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Monthly trading volume on decentralized exchanges (DEXes) has reached new all-time highs, according to the latest on-chain data. According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest ever on record. The month of November was also an all-time high, according to DefiLlama. Source: DefiLlama Uniswap, Ethereum’s (ETH) biggest DEX, recorded the most amount of volume while Raydium (RAY), the largest DEX on Solana, placed second. Most other chains saw an increase in volume, and DeFI as a sector is growing, perhaps getting a boost from President-elect Donald Trump who has ostensibly given a nod of approval to the sector by launching his own platform – World Liberty Financial (WLFI). The incoming president’s project says that its main mission is to spread US dollar-pegged stablecoins and the concept of DeFi throughout the world. According to World Liberty Financial, stablecoins are the crux of DeFi, and its...

The wider cryptocurrency market has retraced downward after December 17 saw Bitcoin (BTC) reach a new all-time high (ATH) price of approximately $106,490. Following the high, the price of BTC retreated to roughly $94,000, before a failed retesting of the $100,000 mark. Prices subsequently crashed below $93,000 but had recovered to $95,256 by press time, with year-to-date (YTD) returns at 126.67%. While broad consensus states that this is just a temporary consolidation period before the market-wide rally continues, even temporary drops have a way of intensifying bearish sentiment. With short sellers having reaped significant rewards from this latest move to the downside, they have doubled down on their bets — in a move that leaves space for potential short squeezes. To identify potential short-squeeze opportunities for January 2025, Finbold retrieved derivatives data from CoinGlass to select two cryptocurrencies that both exhibit high short volume and possess the potential ...

Cryptocurrencies have become a popular investment choice, offering diverse opportunities beyond traditional financial markets. With thousands of digital assets available, investors might have a hard time selecting top cryptocurrencies for investment. InsideBitcoins explores some of the best cryptocurrencies to invest in right now , based on current performance, growth potential, and market sentiment, aiding market participants ni their search. Best Cryptocurrencies to Invest in Right Now Dogecoin is priced at $0.3243, showing a 2.25% increase in the last 24 hours. Meanwhile, FLOCK is gaining momentum, having secured $8 million so far in its ongoing presale, which concludes in 23 days. LUNC is currently exchanging hands at $0.000112, marking a 3.09% rise over the past week. In other news, Russia has implemented a ban on cryptocurrency mining in ten major regions, effective until 2031. Russian media outlets reported that the decision stems from concerns about the substantial ener...

As the cryptocurrency market hovers around a $2 trillion valuation, October’s historically bullish trend is fueling optimism among investors. This period of market correction sets the stage for a possible upward trend, with predictions suggesting significant growth ahead. With the market poised for potential breakout phases, it’s an ideal time to explore promising investment opportunities. This article delves into three intriguing coins that have shown notable price action and potential, offering insights into their current performance and future prospects. GateToken (GT) In the current market landscape, GateToken stands out as a potential option for investors. This token, linked to GateChain—a public blockchain dedicated to digital asset transfers and safety—has shown consistent growth. Since last October, its value has more than doubled, reflecting a solid upward trend. GateToken’s performance is impressive considering its history and market behavior,...