The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

Intermediate

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Traders seem to expect BTC’s momentum could slow down a bit after the price hit over $97,000.

Positive sentiment has continued to fuel the cryptocurrency market as the expectation of further institutional adoption of 

 keeps growing. Options trading of BlackRock’s Spot Bitcoin ETF IBIT 

 with a bang, attracting almost $2 billion on the first day of trading. The hope of more spot ETF derivatives to change the market structure with additional institutional money onboarding crypto is high.

, we explored the possibility of the market being overleveraged, which could be painful if the current leverage unwinds. Data from CryptoQuant shows that the estimated leverage of the current BTC markets has reached another YTD high.

Derivatives data on Bybit shows that traders seem to expect that BTC’s momentum could slow down a bit after the price hit over $97,000, and are focusing more on downside protection.

Figure 1: Bitcoin estimated leverage ratio at 0.23. Source: CryptoQuant

BTC Options Open Interest Returns to Previous High While Perps Are Catching Up

Derivatives traders have been actively participating in BTC markets as 

 on Bybit has surged to over $3 billion, on par with the previous high on Nov 14, 2024. Although the options OI has increased, it still hasn’t surged above the previous high. At the time, BTC’s price had already jumped to over $97,000. If the OI doesn’t follow suit and break above the previous high in the coming days, this could be a sign that the market could become a bit exhausted — something for all market participants to be aware of.

Figure 2: Daily open interest for BTC options on Bybit. Source: Bybit

 have also seen increased open interest in recent days. Perpetuals have been among the most favorable products for day traders and short-term speculators. Rising open interest could indicate that more traders are looking for short-term profit, which could bring additional volatility to the market. 

Figure 3: Daily open interest for BTCUSDT Perpetuals on Bybit. Source: Bybit

Dec 27, 2024 remains the most popular expiration date for BTC Options on Bybit, with most of the open interest there. Within that expiration, $120,000 calls had the most OI, and $100,000 calls accumulated the second-largest OI. 

Figure 4: Open interest by strike for BTC Options with a Dec 27, 2024 expiration. Source: Bybit

Meanwhile, the market’s optimism that BTC will hit $100,000 by the end of the year seems to support the current price momentum. Shorter-dated options could show that traders are also looking for downside protection. The Bybit 

 page shows that BTC Options with a Nov 29, 2024 expiration have a strong 24-hour inflow to $90,000 puts. This could indicate that some traders are also anticipating some degree of price correction by the end of the month. 

Figure 5: 24-hour volume by strike for BTC Options with a Nov 29, 2024 expiration on Bybit. Source: Bybit

 for BTC Options on Bybit also indicates a possible downside protection in play among options traders. A smirk skew, or left skew, is a skew curve that’s steeper on one side (the left side) than the other. Traditionally, a smirk skew curve could mean that traders have been protecting their portfolios against a possible declining market. At the time of this writing (Nov 21, 2024), BTC Options contracts on Bybit with Nov 29, 2024 and Dec 27, 2024 expirations have both shown a smirk skew. However, this doesn’t necessarily mean traders are bearish on the price, and could just be part of the trading strategy. For example, traders could set up collars by buying out-of-the-money (OTM) puts and selling OTM calls simultaneously, so that they can profit in case BTC’s price drops, gain upside exposure and potentially offset the cost of buying the puts. 

Figure 6: Implied volatility of BTC Options with Nov 29, 2024 and Dec 27, 2024 expirations. Source: Bybit

The current BTC leverage trading may be complex, but tells a revealing narrative about market sentiment. The divergence between high leverage and increased hedging activities also reminds us that market dynamics are rarely straightforward, and adopting a 

 seems increasingly important in this diverse market.

: Investing in cryptocurrencies and their derivatives involves substantial risk of loss, and isn’t suitable for every investor. This article provides facts for educational purposes only, and does not represent any financial advice. Prior to making any investment decisions, please ensure you fully understand the risks involved and seek independent advice if necessary. Our customer support team is available to assist you with any inquiries.

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Learn From Smart Money: BTC’s Leverage Remains High as Traders Hedge Against Downside Risks

Altcoins

Crypto

A collector's must-have, Omi crypto is looking to change up the NFT space with VeVe and limited edition digital collectibles.

If you ever collected trading cards, comics or toys as a kid, collectibles from series like Pokémon or Star Wars probably bring back fond memories. These days, an increasing number of people covet digital collectibles, with the virtual goods market 

 project ECOMI has gained popularity for its ability to allow users to acquire digital collectibles and manage them easily with a smartphone or online device. This article takes a close-up look at ECOMI and its native token, OMI.

A Singapore-based technology company in the digital collectibles space, ECOMI comprises two components: an app-based marketplace called 

 (formerly known as ECOMI Collect) and the 

VeVe, ECOMI’s blockchain-based digital collectibles marketplace, allows users to share and buy collectibles across the social network service. The VeVe marketplace is accessible via the 

, with which users can buy and own premium digital collectibles produced by brands like Warner Bros., DC Comics and Cartoon Network. 

Through the app’s marketplace, users can acquire both common collectibles, such as digital artworks, and rare ones, such as limited-edition weaponry. Users can exchange collectibles via their smartphones within the VeVe community.

ECOMI views digital collectibles as a new class of assets, offering intellectual property owners access to new revenue streams within the digital landscape. Gaming, digital streaming and in-app purchases have become multi-billion-dollar markets. In response to rising consumer demand, ECOMI is looking to provide users with an all-in-one digital platform that’s secure and economical. 

Native to ECOMI, OMI tokens are used as a medium of exchange in the ECOMI crypto ecosystem. Users can buy, sell and trade their digital collectables on the VeVe platform with OMI tokens. OMI also helps keep track of ownership by recording every transaction.

When a transaction with the OMI token is confirmed on the VeVe app, the immutable 

 is stored publicly. Maintaining a record of the digital collectables helps eliminate disagreements regarding ownership or illegitimate items. Veve users can also verify their OMI transactions using the 

The OMI token is a utility token that’s the designated medium of exchange on the VeVe marketplace. Users can interact with fandoms of popular franchises like Star Wars or Pokémon by buying licensed 2D and 3D digital models and artwork. Users can also stake their OMI coins to gain access to exclusive premium features like 

OMI had an initial coin supply of 750 billion, of which 20% were made available as part of the initial OMI sale to fund the project. The first round of funding involved a hard cap of 1500 BTC worth of OMI coins exchanged on BitForex. At that time, the value of BTC was between $6,000 and $8,000, but is currently over $60,000.

At present, the supply of OMI coins stands at 166.2 billion. The VeVe platform holds 290.7 billion OMI (about 40%) as a reserve for in-app purchases. 

 holds approximately 42.2 billion OMI, in the event of project liquidation.

, 20% of the total OMI supply goes to ECOMI business development, and 20% to its board members and advisors. Since the initial launch of the VeVe ecosystem, over 103 billion OMI tokens have been removed from the supply. This token burn reduced the initial token supply of OMI to less than 647 billion units.

OMI has been listed on various crypto exchanges. However, unlike other mainstream cryptocurrencies such as BTC, users cannot purchase it directly with fiat money. Instead, OMI tokens must be acquired by first buying ETH from a fiat-to-crypto exchange, and then transferring it to an exchange that supports OMI trading.

Here are several ways you can buy the OMI token:

Online wallets, also known as hot wallets, can be accessed via a web browser. Users must trust the platform to manage their OMI tokens for them. Online wallets are ideal for storing small amounts of OMI tokens or executing regular trades. It’s important to pick a service that has a good reputation and strong security and data protection measures in place.

Software wallets are not the most secure storage method, but they are easier to use than hardware wallets. Even inexperienced users will be able to easily download a software wallet onto their smartphone or computer. Software wallets are ideal for users who need to store fewer OMI coins and access them more regularly.

Hardware wallets, also known as cold wallets (e.g., Trezor or Ledger), are ideal for safe offline storage and backup of your crypto coins. However, they’re usually more expensive and less user-friendly than software wallets. Hardware wallet/cold wallet solutions are better for experienced users who need to store large amounts of OMI coins.

ECOMI also has its own cold wallet called the 

, which is waterproof, slightly foldable, and comes in the shape of a regular credit card for convenient access. Though it doesn’t connect to the internet, the ECOMI wallet can be wirelessly connected to your devices. Moreover, its robust “restore and loss” function ensures that your digital assets remain safe even if your wallet breaks or gets lost.

At the time of this writing, OMI has a 24-hour trading volume of over $5 million, with the price of one token at 

, putting it at #213 on CoinMarketCap’s rankings. It has a circulating supply of about 166 billion and a maximum supply of over 646 billion.

 has been analyzing the daily values of OMI for the last six months to evaluate its potential return on investment (ROI) in 2021. The value of cryptocurrencies usually follows a wave pattern, as the demand changes based on technological improvements, blockchain collaborations, and acceptance or rejection of crypto by governments or corporations. The OMI token hit its 

, but if it follows the same wave pattern as other cryptocurrencies, there is a possibility that it may soon reattain its 

, OMI has a safety rank of 4.3 out of 10, placing it at #177 on a list of 4,138 assets. With an expected return of +142.1%, the Omi price prediction stands at $0.016. The dominant factor in determining OMI ranking is user votes.

VeVe aims to replace physical art vaults and galleries with customizable virtual showrooms similar to a video game. The AR feature can also be used via your mobile device to enhance visual manipulation of digital collectibles.

A user can import NFTs with other assets, scale them, rotate them and then create unique imagery for a collection by capturing a photo. This imagery can be traded with other collectors, whereby each party gains 

VeVe’s simplicity and ease of use ensure that it reaches a wide audience: anyone can use it, not just the young and tech-savvy. Given its many selling points, OMI’s value is likely to increase with time.

The NFT/digital collectible space is growing quickly with a correspondingly steady increase in demand. ECOMI has a powerful ecosystem and boasts large ownership of NFTs. Due to partnerships with major brands, ECOMI is able to mint NFTs that are widely sought-after, for collectors to collect all the digital collectibles they want. The platform’s secure wallet has also become a strong competitor to existing software and hardware wallet solutions. 

However, ECOMI does grapple with a few issues. For example, OMI tokens can be traded for gems (a marketplace currency), but not vice versa — which locks any money you put into the app. The token also lacks utility, as at the moment it can only be used to purchase NFTs. If ECOMI’s development team can resolve these problems, it could solidify its place as one of the best projects in the crypto market.

OMI Crypto (OMI): The Future of Digital Collectibles

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