November: Bitcoin’s continued surge, regulatory changes, AI growth, Oraichain’s advancements, and a wave of market optimism
Get up-to-date with the latest trends in crypto, Bitcoin, AI, and beyond. Oraichain's "Market Insights'' series delivers a monthly snapshot of the hottest narratives shaping the blockchain space. Dive into November's market news and discover what's driving innovation.
Major News
Trump Presidency Fuels Crypto Optimism
Bitcoin soared 8.5% on election night, hitting an all-time high of $75,395 as Donald Trump’s victory fueled market optimism. Altcoins joined the rally, with Dogecoin jumping 30% and Ethereum rising 9%. Trump’s pro-crypto stance, including promises to defend Bitcoin mining and fire SEC Chair Gary Gensler, has reignited investor confidence. Experts predict fewer regulatory hurdles and the potential for crypto-friendly legislation. (Source: Bankrate)
Interest Rate Cuts Continue as Inflation Cools
The Federal Reserve cut its benchmark interest rate by another 25 basis points, bringing it to a range of 4.50% to 4.75%. This follows a 50-bps cut in September as the Fed shifts from two years of rate hikes to easing monetary policy. The cuts aim to stimulate the economy, with inflation cooling to 2.4%, closer to the Fed’s 2% target. Fed Chair Jerome Powell hinted at further cuts before 2025 if current trends continue, with rates projected to fall to 3.4% by the end of 2025. (Source: CNBC)
The DOGE Initiative: Trump’s Bold Bid to Reform Government
President-elect Donald Trump announced the Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, to slash federal spending by $2 trillion. Critics doubt its feasibility, citing Congress’s budget control and Musk’s conflicts of interest due to federal contracts. While DOGE aims for bold reforms, its unofficial status and lack of government expertise raise questions about its effectiveness. (Source: CBS News)
FTX Plans to Begin Paying Back Customers and Creditors by 2025
FTX aims to start repaying customers and creditors by Spring 2025, with plans to finalize its reorganization in early January 2025. After filing for bankruptcy in November 2022, the exchange hopes to reimburse affected parties based on the crypto market’s 2022 cash value. With $14.5 billion to $16.3 billion available from liquidated assets, FTX expects to cover its $11 billion debt to creditors and customers. (Source: Morningstar)
South Korea Investigates Upbit for 600K KYC Violations
South Korea’s Financial Intelligence Unit (FIU) is investigating Upbit for up to 600,000 alleged KYC violations, which could result in fines of $71,500 per case and jeopardize its business license renewal.
The violations include allowing customers to use blurred IDs during account registration, breaching the country’s strict crypto regulations. This probe follows an earlier anti-monopoly investigation into Upbit’s close ties with K-Bank, which has a significant exposure to crypto assets. (Source: CoinTelegraph)
Mastercard and JPMorgan Partner for Blockchain-Powered Cross-Border Payments
Mastercard’s Multi-Token Network (MTN) has partnered with JPMorgan’s rebranded Kinexys Digital Payments (formerly JPM Coin) to enhance B2B cross-border payments. The collaboration aims to provide faster settlements, greater transparency, and reduced time zone friction for mutual customers.
By integrating their platforms through a single API, the partnership streamlines global payment processes. This marks a significant step in leveraging blockchain technology for seamless business transactions, reflecting both companies' commitment to advancing digital asset ecosystems. (Source: CoinDesk)
Putin Signs New Tax Code for Digital Currency Activities
Russian President Vladimir Putin has signed a law establishing a tax framework for cryptocurrency mining and transactions. The law recognizes digital currencies as property and exempts mining and sales from VAT but imposes income taxes on trading: 13% for earnings up to 2.4 million rubles and 15% above that. Corporate entities face a 25% tax starting next year. Mining operators must report to authorities or face fines. Russia, a major player in crypto mining, expects to collect up to $2 billion annually under the new rules. (Source: The Moscow Times)
BTC in November
Bitcoin experienced a remarkable rally in November, surging 37% to reach a new all-time high of $96,500. The victory of a pro-crypto president and a wave of institutional adoption fueled the market's bullish sentiment. Despite a brief pause in late November, Bitcoin's overall upward trajectory remained intact. (Source: Various)
AI in November
Real-Time Insights into AI Agents with Cookie DAO’s Latest Launch
Cookie DAO has launched Cookie.fun, a platform to track the real-time performance of AI agents across blockchain and social media metrics. It evaluates agents like GOAT and ZEROBRO using metrics like market cap, social engagement, and token holder growth, with a unique “mindshare” ranking for market influence.
The platform aims to bring transparency to the fast-growing AI agent ecosystem, supporting better investor decisions and driving long-term credibility for AI-driven blockchain projects. (Source: CryptoSlate)
Nvidia Crowned World’s Biggest Company
Nvidia has overtaken Apple as the highest-valued company globally, with a market capitalization of $3.43 trillion, surpassing Apple's $3.38 trillion. The chipmaker’s shares rose 2.9%, fueled by its dominance in AI technology, which powers generative AI systems like OpenAI’s ChatGPT and Google’s Gemini. Nvidia’s value now exceeds that of Amazon and Meta combined. (Source: The Economics Times)
Oraichain in November
New Features Now Live on Scanium!
Scanium is rolling out exciting new features to enhance your Cosmos experience. Users can now easily stake, unstake, and redelegate across 115+ Cosmos networks. Thanks to Scanium's integration, everyone can now explore a wide range of staking opportunities and effortlessly stake with OWallet’s node across multiple networks—all in just a few clicks.
The addition of a real-time transaction board keeps you up-to-date with the latest updates, while portfolio tracking allows you to conveniently view and calculate your token values. Additionally, the new contract search feature enables users to explore detailed contract information and initiate contracts effortlessly. Visit https://scanium.io and https://owallet.io/staking to explore these updates and level up your blockchain journey today!
Confidential Computing and TEEs: What Are They?
Confidential Computing uses Trusted Execution Environments (TEEs) to securely process sensitive data. TEEs provide a protected space within a CPU, ensuring that data remains secure during processing, even if the device is compromised. This is essential for applications like Private Intelligence, where data is analyzed without exposing its contents. Oraichain uses TEEs, specifically Intel’s SGX, to safeguard data in Kubernetes clusters, providing isolation, encryption, and a reduced trusted computing base for enhanced security.
Read the full article at: Link
Oraichain’s GPU Staking: Revenue Growth & APR Update
The success of Oraichain’s AI-powered dApps and increased demand for GPU resources have led to a significant update in GPU staking rewards. Starting November 25, the GPU staking APR will increase from 4% to 7.5%, reflecting the ecosystem’s growing revenue and encouraging more ORAI holders to stake.
Oraichain’s robust GPU infrastructure, featuring 2,000 VRAM GPUs, powers thriving AI applications like Distilled AI and Cupiee, which have driven a near-doubling of revenue in October. This adjustment boosts the total staking APR to 23.5%, rewarding participants while strengthening the network for future growth.
Learn more at https://hub.orai.io.
Wrapping up
November brought exciting developments across the crypto market, with Bitcoin setting all-time highs and blockchain innovations capturing global attention. AI continued to shine with platforms like Cookie DAO revolutionizing how investors track AI agents. Oraichain celebrated significant milestones, including boosted GPU staking rewards, new tools for Scanium, and expanding AI applications, solidifying its role as a frontrunner in this dynamic space.
Explore these advancements and join Oraichain’s thriving ecosystem today! Don’t forget to stay tuned for more exciting updates!
