On Nov.11, MV Global, a Web3 investing firm, told Cointelegraph that investors expect cryptocurrency’s bull run to continue into 2025 and peak in the second half of the year.
Citing a survey of 77 large cryptocurrency investors, MV said, “Nearly half of investors anticipate a market top in the second half of 2025.” The survey included venture firms, hedge funds and high-net-worth individuals.
“This seems to be a very popular opinion and, therefore, very likely priced into markets,” noted Tom Dunleavy, a managing partner at MV Global.
Coinbase stock breaks $300 for the first time since 2021
On Nov 11, the shares of the cryptocurrency exchange Coinbase Inc. (COIN) surged more than 20%, pushing the stock past $300 for the first time since 2021.
As per Cointelegraph Research, United States crypto stocks are seeing massive gains after Donald Trump’s victory in the presidential election, as many believe his win will benefit the industry.
Michale Miller, an equities researcher at Morningstar Inc., said in a Nov. 7 research note that, “We see Coinbase as a beneficiary of the election results as the firm has been struggling with regulatory pressure from the SEC, with the firm actively fighting the agency in court.”
“With the incoming Donald Trump administration expected to be more favorable to the cryptocurrency industry, the firm’s staking business will face less regulatory pressure,” Miller said.
“Less directly, a more permissive approach to cryptocurrency will likely provide a tailwind to cryptocurrency prices.”
Coinbase’s CEO, Brian Armstrong, said in a Nov. 6 article on the X platform, “Crypto got the full-throated support of the winning presidential candidate,”
On Oct. 30, Coinbase reported revenues of $1.2 billion in the third quarter of 2024 and profits of $75 million.
Growing DeFi on Bitcoin: Rooch Network joins Cointelegraph Accelerator
It is announced by the Cointelegraph that Rooch Network, a blockchain project building a native application layer for the Bitcoin ecosystem, has joined the Cointelegraph Accelerator program.
Bitcoin (BTC), originally envisioned as an alternative payment system or digital cash, has seen its value surge dramatically over the years, transforming it into a highly attractive investment asset. As a result, Bitcoin today is primarily used for transactions and investments.
However, its growing role as a store of value has highlighted certain technical limitations, particularly in supporting decentralized applications (DApps). While blockchains like Ethereum have adapted to support DApps and smart contracts, Bitcoin’s impact on decentralized finance (DeFi) has been limited, mainly due to its lack of built-in smart contract functionality.
