<h2>Surging Valuations and Strategic Distribution</h2>The ME Foundation's announcement of a $312 million ME token airdrop has shaken the crypto space, with pre-market prices spiking 233% to $2.76 per token.&nbsp;<figure class="image"><img alt="whales market.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/whales_market_eea991b9f9.png"><figcaption>Source: Whales Market</figcaption></figure>The airdrop involves 125 million ME tokens, accounting for 12.5% of the total 1 billion supply, immediately drawing comparisons to some of the largest&nbsp;<a href="https://coin360.com/glossary/airdrop">airdrops</a> in crypto history.&nbsp;<div class="raw-html-embed"><blockquote class="twitter-tweet">ME Foundation is excited to share the tokenomics for <a href="https://twitter.com/search?q=%24ME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ME</a>. This tokenomics post covers the following: - The next phase era of innovation in crypto is all onchain. <a href="https://twitter.com/search?q=%24ME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ME</a> has been adopted by Magic Eden, the top multi-chain, multi-asset onchain trading platform - Magic Eden is the #1…— $ME (@MEFndn) <a href="https://twitter.com/MEFndn/status/1858555794393846016?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>This distribution highlights Magic Eden’s intention to fortify user loyalty by integrating token incentives into daily platform interactions. CEO Jack Lu&nbsp;<a href="https://x.com/0xLeoInRio/status/1858558591814214069">underscored</a> the strategic focus on community engagement, aiming to reward users for consistent activity on the marketplace.With a capped supply of 1 billion ME tokens, the&nbsp;<a href="https://coin360.com/glossary/tokenomics">tokenomics</a> split is meticulous: 50.2% reserved for the community and ecosystem development, while 49.8% is allocated for contributors and strategic partners. The initial airdrop mirrors similar initiatives like Tensor’s 15% allocation but surpasses competitors like&nbsp;<a href="https://coin360.com/coin/jupiter-space-station-jup">Jupiter</a>, which distributed only 10%. To sustain engagement, an additional 225 million tokens will be gradually distributed over the next four years, fostering long-term loyalty among active participants.<figure class="image"><img alt="token allocation.jpeg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/token_allocation_250a5f9ba0.jpeg"><figcaption>Source: ME Foundation</figcaption></figure>Pre-market trading momentum has been formidable, with ME tokens achieving a circulating&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> projection of $362.5 million. This positions the token among the top 20 airdrops ever, bolstered by Magic Eden’s dominance in the&nbsp;<a href="https://coin360.com/nft">NFT</a> market. Over the past six months, the platform has commanded a&nbsp;<a href="https://tiexo.com/analytics?activeMetric=blockchain%20marketplaces&amp;blockchain=ALL">33% market share</a>, generating a staggering $1.12 billion in trading volume. Weekly trading value saw a dramatic 517% surge ahead of the token’s public listing, signaling robust demand and community anticipation.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Community Concerns and Allocation Disputes</h2>Despite the impressive figures, the airdrop has sparked significant controversy within the&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> community. Critics have voiced concerns that the distribution disproportionately benefits Magic Eden’s&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> ecosystem users, sidelining long-time supporters from Solana.&nbsp;These complaints resonate deeply, with some accusing Magic Eden of betraying its original community that played a crucial role in its growth. Detractors argue that the token allocation unfairly rewards Bitcoin users who, allegedly according to Magic Eden team members, contributed more in transaction fees.<figure class="image image_resized" style="width:85.62%;"><img alt="tweet_1858660809540284432_20241120_020455_via_10015_io_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1858660809540284432_20241120_020455_via_10015_io_11zon_82d12c329b.jpg"><figcaption>Source: X</figcaption></figure>Tiff, a Magic Eden team member, quickly countered the arguments, urging for calm. She clarified that the controversial graphic depicted Magic Eden's trading volume by network, unrelated to airdrop allocations.<figure class="image image_resized" style="width:85.37%;"><img alt="tweet_1858689782001324482_20241120_020907_via_10015_io_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1858689782001324482_20241120_020907_via_10015_io_11zon_8b4b34c975.jpg"><figcaption>Source: X</figcaption></figure>Adding to the discontent, questions persist about the conversion of Magic Eden’s loyalty points, known as Diamonds, into ME tokens. Prominent&nbsp;<a href="https://coin360.com/glossary/web3-companies-projects">Web3</a> influencer DFarmer criticized the lack of transparency around conversion rates and the timeline for claims. This ambiguity has fueled speculation and dissatisfaction, leaving many loyal users in limbo as they await further details.<div class="raw-html-embed"><blockquote class="twitter-tweet">Maaaan you guys are really dragging this out. Date for TGE. Diamonds to <a href="https://twitter.com/search?q=%24ME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ME</a> conversion rates. Distribution between ecosystems. Rune allo. You know this is what people wanna know, enough with the self incensing and announcement of announcements. You know I’m a big supporter,… <a href="https://t.co/8oTkCbp0t0">https://t.co/8oTkCbp0t0</a>— DFarmer (@OGDfarmer) <a href="https://twitter.com/OGDfarmer/status/1858585905667166264?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>Magic Eden has promised an eligibility checker tool to help users ascertain their token allocations, but no date has been confirmed for the Token Generation Event (TGE). Meanwhile, the platform continues its expansion, integrating with multiple blockchains, including Solana, Bitcoin, and&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>, as well as four additional networks. The overarching goal remains clear: to solidify its position as a premier multi-chain NFT marketplace and a leader in the emerging BitcoinFi sector.This article has been refined and enhanced by ChatGPT.

Robot in a blockchain hub [ME token]_11zon.webp

ME Foundation Announces $312M Airdrop for Magic Eden Users, Solana Community Divides

<h2>New Product Offers 19.55% APY</h2><a href="https://coin360.com/review/binance">Binance</a>’s latest product,&nbsp;<a href="https://www.binance.com/en/futures/bfusd">BFUSD</a>, has stirred the crypto waters with its eye-popping annual percentage yield (APY) of 19.55%. Marketed as a reward-bearing asset rather than a stablecoin, BFUSD has a total supply cap of 20 million tokens. Its design defies convention by offering users daily rewards without the need for staking or locking funds, functioning within a collateralization framework boasting a 105.54% ratio.&nbsp;Unlike traditional&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a>, BFUSD is not pegged to any fiat currency, operating instead as a margin trading product tied to&nbsp;<a href="https://coin360.com/glossary/futures-contracts">futures</a> trading. To access these benefits, users must meet specific criteria based on their VIP level within the Binance ecosystem, further emphasizing exclusivity.<figure class="image"><img alt="binance bfusd.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/binance_bfusd_723cb87f22.jpg"><figcaption>Source: Binance</figcaption></figure>The initial announcement drew immediate comparisons to the infamous&nbsp;<a href="https://coin360.com/coin/terra-luna">Terra</a> ecosystem, which collapsed spectacularly in 2022. Terraform Labs’&nbsp;<a href="https://coin360.com/coin/terra-classic-usd-ustc">UST</a> once promised a 20% yield through its Anchor Protocol before its value nosedived, wiping out $18 billion in&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market capitalization</a> in a matter of weeks.&nbsp;Binance’s move to roll out BFUSD brought a sense of déjà vu, with skeptics quick to point out the eerie parallels. Prominent figures in the crypto community, including pseudonymous trader RunnerXBT, raised questions about the sustainability of such high yields without transparent mechanisms. Others, like the user Zoomerfied on X, reignited debates by questioning the legitimacy of this offering, prompting Binance to clarify its stance.<figure class="image"><img alt="runnerxbt.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/runnerxbt_48dd04f9e7.png"><figcaption>Source: RunnerXBT/ X</figcaption></figure>Binance broke its silence,&nbsp;<a href="https://x.com/BinanceHelpDesk/status/1858613807494688975">categorically stating</a> that BFUSD is neither launched nor intended to be classified as a stablecoin. Instead, the platform positioned it as a reward-focused instrument aimed at futures traders, distancing itself from the failed algorithmic stablecoin models.&nbsp;<figure class="image"><img alt="binance clarification.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/binance_clarification_98d38cd2f0.png"><figcaption>Source: Binance/ X</figcaption></figure>This clarification came as a crucial step to mitigate concerns, but lingering doubts about the long-term viability of the product persist. Comments such as “Are we the yield?” reflect broader apprehensions about Ponzi-like dynamics, where returns depend heavily on continuous user inflows.<figure class="image"><img alt="token dispatch.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/token_dispatch_6944de0388.png"><figcaption>Source: Token Dispatch/ X</figcaption></figure>Historically, Binance has faced scrutiny for its stablecoin ventures. The exchange’s&nbsp;<a href="https://coin360.com/coin/binance-usd-busd">BUSD</a>, issued by Paxos and once a cornerstone of its ecosystem, saw its&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> shrink from $16 billion to under $3 billion following regulatory challenges in 2023. This backdrop adds a layer of complexity to the BFUSD rollout, especially as U.S. regulators like the SEC intensify their oversight of high-yield products.The crypto market remains on edge, with questions about the sustainability and transparency of BFUSD’s promised returns still unanswered. Whether Binance’s latest innovation will fortify its position in the derivatives market or become another cautionary tale in crypto’s high-yield saga depends largely on how well it can address these concerns moving forward.This article has been refined and enhanced by ChatGPT.

Robot balancing crypto wheel in pastel desert [crypto wheel]

Robot balancing crypto wheel in pastel desert [crypto wheel]_11zon.webp

Binance Clarifies High-Yield Bet BFUSD Debate Amid Market Concerns

<h2>Bitfinex and Kraken Gear Up for USDQ, EURQ Listings</h2>Quantoz, a Netherlands-based fintech firm, is set to&nbsp;<a href="https://www.prnewswire.co.uk/news-releases/quantoz-payments-issues-euro-and-us-dollar-stablecoins-receives-backing-from-major-crypto-asset-firms-302307632.html">launch</a> two MiCA-compliant&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a>, USDQ and EURQ, with listings on&nbsp;<a href="https://coin360.com/exchange/bitfinex">Bitfinex</a> and&nbsp;<a href="https://coin360.com/exchange/kraken">Kraken</a> beginning November 21. These&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>-based tokens are fully backed by fiat currencies and adhere to the rigorous standards outlined by the European Economic Area (EEA).&nbsp;The launch coincides with the final phase of the Markets in Crypto Assets (MiCA) regulatory framework, slated for full implementation in December, marking a pivotal moment for the European stablecoin market.The project is underpinned by an undisclosed funding round from&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a>, Kraken, and Fabric Ventures, signaling robust institutional backing. Tether, the world’s largest stablecoin issuer, has invested heavily in Quantoz as part of its strategic expansion into regulated digital assets.&nbsp;This move highlights the growing importance of compliance in the rapidly evolving crypto space. Quantoz operates as an electronic money institution (EMI) under the supervision of De Nederlandsche Bank (DNB), reinforcing its credibility in the financial sector.Arnoud Star Busmann, CEO of Quantoz Payments, emphasized the significance of MiCA’s regulatory framework in fostering trust and transparency in digital assets.&nbsp;“As the world of payments becomes more digital, having well-regulated, transparent, and fully backed stablecoins is critical to enabling faster, cheaper, and more secure settlements within the world’s largest single market,” Busmann said. His statement underscores the broader implications of MiCA, which aims to position the European market as a global leader in digital asset regulation.While Tether's involvement strengthens Quantoz’s venture, its own&nbsp;<a href="https://coin360.com/coin/tether-usdt">USDT</a> stablecoin has yet to secure a MiCA license. This regulatory uncertainty could lead to USDT’s delisting in the EEA by the end of 2024. By backing Quantoz, Tether may be hedging against this risk, ensuring a foothold in the European market regardless of USDT’s regulatory fate.Quantoz's latest offering builds on the success of its Euro-backed stablecoin, EURD, which operates on the&nbsp;<a href="https://coin360.com/coin/algorand-algo">Algorand</a> blockchain. EURD supports a wide range of applications, from e-commerce and peer-to-peer payments to&nbsp;<a href="https://coin360.com/glossary/web3-companies-projects">Web3</a> and metaverse integrations. It also facilitates asset tokenization and low-cost settlements, enhancing its utility across various financial ecosystems.The introduction of USDQ and EURQ expands Quantoz’s portfolio of MiCA-aligned assets, designed to provide compliant liquidity for cryptocurrency exchanges and electronic money transfers. As the European Union sets new global standards for digital assets, these developments reflect the region’s commitment to regulatory excellence and innovation in the stablecoin sector.This article has been refined and enhanced by ChatGPT.

Robot shaking hands on a bridge made of fiat notes

Robot shaking hands on a bridge made of fiat notes_11zon.webp

Quantoz Launches MiCA-Compliant Stablecoins with Tether Funding Amid Regulatory Shift

<h2>Bitcoin Consolidates Above $90K as Funds Surge</h2>Crypto funds continue their winning streak, pulling in $2.2 billion in fresh inflows over the past week, according to&nbsp;<a href="https://blog.coinshares.com/volume-209-digital-asset-fund-flows-weekly-report-da70460ee4f3">CoinShares</a>. Heavyweights like BlackRock, Bitwise, Fidelity, Grayscale, and ProShares played a key role in driving year-to-date (YTD) inflows to an unprecedented $33.5 billion. This surge coincided with&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> smashing past $93,000, pushing the total assets under management (AUM) for these funds to a record $138 billion.The bullish momentum reflects a mix of favorable monetary conditions and the Republican sweep in the recent U.S. elections, noted CoinShares Head of Research James Butterfill in his latest report.&nbsp;<figure class="image image_resized" style="width:90.39%;"><img alt="coinshares digital investment fund report.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/coinshares_digital_investment_fund_report_d14063c2ca.png"><figcaption>Source: CoinShares</figcaption></figure>Despite this, the week was a tale of two halves. An impressive $3 billion in inflows poured in during the first half, but the latter half saw $866 million in outflows as Bitcoin’s price cooled post all-time highs.U.S.-based funds continued to dominate, contributing $2.21 billion in net inflows. Other regions also posted gains, albeit on a smaller scale, with Hong Kong pulling in $27 million, Australia $18 million, and Canada $13 million. On the flip side, Sweden and Germany witnessed outflows of $58 million and $6.8 million, respectively, as local investors opted to take profits.Bitcoin remained the top choice for investors, raking in $1.48 billion in global inflows. Notably, the spike in Bitcoin’s value also drove $49 million into short-Bitcoin products, reflecting a strategic hedge. The U.S. spot Bitcoin ETFs captured $1.8 billion of the week’s inflows, though this was tempered by $640.3 million in outflows towards the end of the week.<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> products, often overshadowed by Bitcoin, saw a resurgence. Net inflows reached $646 million, or 5% of their AUM, marking a significant turnaround. Butterfill attributed this to renewed optimism around Ethereum’s future, spurred by Justin Drake’s&nbsp;<a href="https://coin360.com/coin/beam-beamx">Beam</a> Chain upgrade proposal and post-election sentiment. U.S. spot Ethereum ETFs alone drew in $515.3 million, their strongest week since launching in July.As Bitcoin consolidates above $90,000, analysts remain optimistic. BRN’s Valentin Fournier noted the cryptocurrency’s resilience amid a 40% rally since Trump’s election. With technical indicators pointing to continued accumulation and no immediate reversal in sight, Bitcoin appears poised for its next breakout.<figure class="image"><img alt="chart.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/chart_c1df7c4810.png"></figure>This article has been refined and enhanced by ChatGPT.

Robot vaults through financial gears in glowing pastel landscape_11zon.webp

Crypto Funds Add $2.2 Billion in a Week, Setting Record YTD Inflows and AUM

<h2>MicroStrategy's Bitcoin Reserves Outpace Major Corporations in Treasury Holdings</h2>MicroStrategy has successfully transitioned its financial strategy by amassing approximately $26 billion in&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a>,&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-11-16/microstrategy-s-26-billion-bitcoin-cache-is-larger-than-ibm-nike-cash-holdings">surpassing corporate giants</a> like IBM, Nike, and Johnson &amp; Johnson in cash reserves. Since beginning this strategy in 2020, the company has achieved $13.4 billion in unrealized gains and significantly enhanced its market position.&nbsp;<figure class="image image_resized" style="width:85.51%;"><img alt="MicroStrategy’s Treasury.webp" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Micro_Strategy_s_Treasury_b6b82f3ac9.webp"><figcaption>MicroStrategy’s Treasury. Source: Bloomberg</figcaption></figure>Currently holding 279,240&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>, purchased at an average cost of $42,888, MicroStrategy's stock has surged over 2,500%, mirroring Bitcoin's 700% price increase. The firm intends to raise $42 billion to further increase its Bitcoin holdings, aiming to become a trillion-dollar Bitcoin-centric entity in the corporate landscape.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Solana Surpasses Global Giants in Market Cap, Hits Record High Against Ethereum</h2>As of November 17, 2024, data from 8marketcap reported that&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> reached a&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market capitalization</a> of $108.78 billion,&nbsp;<a href="https://8marketcap.com/?page=2">surpassing global giants</a> like Intel and Boeing, and ranked as the 175th largest asset globally. Additionally, Solana achieved a new all-time high against&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>, with the&nbsp;<a href="https://coin360.com/coin/solana-sol">SOL</a>/<a href="https://coin360.com/coin/ethereum-eth">ETH</a> exchange rate peaking at 0.07686, reflecting a 24-hour increase of 7.12%.&nbsp;<figure class="image"><img alt="SOLETH_2024-11-17_20-38-23.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/SOLETH_2024_11_17_20_38_23_d9e6814b9b.png"><figcaption>SOL/ETH chart on TradingView.</figcaption></figure>This rise underscores Solana’s growing dominance and investor confidence in the cryptocurrency landscape. Solana’s robust market performance highlights its potential as a leading blockchain platform, signifying its critical role in the evolving digital finance ecosystem.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BONK Tops WIF in Market Cap, Targets 1 Trillion Token Burn by December</h2>On November 17,&nbsp;<a href="https://coin360.com/coin/bonk-bonk">BONK</a> surged 16%, surpassing&nbsp;<a href="https://coin360.com/coin/dogwifhat-wif">WIF</a> in&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> at $3.9 billion. High trading volumes on&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a> ($384 million) and other platforms reflect growing interest. The token, launched post-<a href="https://coin360.com/coin/ftx-token-ftt">FTX</a> collapse, benefits from Solana's ecosystem support and a low-unit bias.&nbsp;<figure class="image"><img alt="bonk flips wif in market cap.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/bonk_flips_wif_in_market_cap_b7fb6ed848.png"></figure>BonkDAO&nbsp;<a href="https://twitter.com/bonk_inu/status/1857465407801798732">burned 100 billion tokens</a> and aims to burn 1 trillion by December 24 in its "BURNmas" event, reducing supply to boost value. Technical patterns hint at further growth, with traders&nbsp;<a href="https://twitter.com/iamkadense/status/1857867667170013253">eyeing</a> its $3.9 billion market cap as undervalued compared to&nbsp;<a href="https://coin360.com/coin/dogecoin-doge">DOGE</a> and&nbsp;<a href="https://coin360.com/coin/shiba-inu-shib">SHIB</a>, emphasizing room for significant appreciation amid deflationary pressures.This article has been refined and enhanced by ChatGPT.

Robot burning BONK tokens, fiery pastel canyon scene

Robot burning BONK tokens, fiery pastel canyon scene_11zon.webp

The Flippening in Full Swing: Solana, BONK, MicroStrategy Outperform Major Players

As highlighted in our <a href="https://coin360.com/news/stocks-crypto-bear-market-relief-rally" target="_blank">daily crypto update yesterday</a>, markets appeared set for a relief rally, the inklings of which we started seeing today.

BTC surged by approximately 5.2% in the past 24 hours, sending the price to $20,300 at the time of writing, whereas ETH followed BTC in the upward trend, rising 4.7% in the past 24 hours, pushing the price to close to $1,400.

<img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Coin360_7_808c8ce7ec.png" alt="Coin360 (7).png" />

On the flip side, DXY finally found some resistance after surging for 12 days straight to break recent highs. Currently sitting at 113.88, a corrective phase for DXY will help crypto find some relief.

S&amp;P 500 also seems to be finding its feet above 3,673 and steadily rising. We will have to wait and see whether another higher high gets rejected by this trend line or we push through to a new range. Bulls will be looking toward the 4,000 level for a reaction.

<img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/spx_27_55c52e8de3.png" alt="spx 27.png" />
SPX Price Chart. source TradingView

<h2 id="top-altcoin-gainers-and-losers">Top altcoin gainers and losers</h2>

<h3 id="gainers">Gainers</h3>

<a href="https://coin360.com/coin/uniswap-uni" target="_blank">Uniswap UNI</a> (+14.11%)
<a href="https://coin360.com/coin/gmt-stepn-gmt" target="_blank">Stepn GMT</a> (+12.65%)
<a href="https://coin360.com/coin/maker-mkr" target="_blank">Maker MKR</a> (+10.52%)

<h3 id="losers">Losers</h3>

<a href="https://coin360.com/coin/terra-classic-lunc" target="_blank">Terra Classic LUNC</a> (-10.84%)
<a href="https://coin360.com/coin/chain-xcn" target="_blank">Chain XCN</a> (-1.51%)
<a href="https://coin360.com/coin/cosmos-atom" target="_blank">Cosmos ATOM</a> (-1.41%)

<h2 id="btc-technical-analysis">BTC Technical Analysis</h2>

<a href="https://coin360.com/coin/bitcoin-btc" target="_blank">Bitcoin price</a> caught traders off guard and broke out of its range reclaiming $20,000 and above. $20,500 serves as the immediate resistance but if the price breaks through we could see a minimum of $21,500-$22,000 sooner rather than later.

<img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/btc_27_656a8a0ec3.png" alt="btc 27.png" />

<h2 id="eth-technical-analysis">ETH Technical Analysis</h2>

Ethereum is forming soft support on ETH/BTC, the success of that support will be judged on the price action seen on <a href="https://coin360.com/coin/ethereum-eth" target="_blank">ETH/USDT</a> pair.

If Ethereum breaks $1,560 and breaks this lower high trend line we can expect a clean move to $1,800. Otherwise Ethereum will most likely head back and test support at $1,250.

<img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/eth_27_9567f409f0.png" alt="eth 27.png" />

<h2 id="coin360-daily-digest">Coin360 Daily Digest</h2>

Here&rsquo;s a quick rundown of the major crypto market news from today.

<img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/dailydiguestsp27_d381e9081b.jpg" alt="dailydiguestsp27.jpg" />

For more daily updates and news, follow us on <a href="https://twitter.com/COIN360com" target="_blank">Twitter</a>.

Disclaimer: None of the information here constitutes financial advice and market participants are advised to conduct their own research since cryptocurrencies are speculative assets with considerable risks.

BTC and ETH catch brief break after oversold conditions

Top altcoin gainers and losers

Gainers

Losers

BTC Technical Analysis

ETH Technical Analysis

Coin360 Daily Digest

Latest News @Coin360

ME Foundation Announces $312M Airdrop for Magic Eden Users, Solana Community Divides

Binance Clarifies High-Yield Bet BFUSD Debate Amid Market Concerns

Quantoz Launches MiCA-Compliant Stablecoins with Tether Funding Amid Regulatory Shift

Crypto Funds Add $2.2 Billion in a Week, Setting Record YTD Inflows and AUM

The Flippening in Full Swing: Solana, BONK, MicroStrategy Outperform Major Players