Bitcoin DeFi to Eclipse Ethereum and Solana!

Charles Hoskinson predicts Bitcoin DeFi will surpass other blockchain DeFi systems in the next few years.

Author

Danielle du Toit
November 29, 2024

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Here's what we've got for you today:

  • Hoskinson Predicts Bitcoin DeFi Will Surpass Ethereum and Solana

  • XRP Outperforms Crypto Majors as Japan Yen Strength Signals Bitcoin Trouble

  • Ether ETFs are Beating Their Counterparts Amid Recent ETH Rally

  • Ex-Binance Employee Sues UK Exchange, Alleging Bribery: Report

Bitcoin DeFi is gaining momentum, and Cardano founder Charles Hoskinson predicts it will surpass other blockchain DeFi systems in the next few years.

  • Charles Hoskinson is very confident in Bitcoin's DeFi ecosystem, and predicted it will outpace all other blockchain-based DeFi systems in two to three years.

  • Hoskinson admires Bitcoin's evolution, and described it as an "awakened giant" that is now “four times the size of Solana and Ethereum combined.”

  • Due to the increased government interest and investment inflows, Hoskinson believes Bitcoin's price could climb to $250,000–$500,000 in the next 12 to 24 months.

XRP’s price rose by more than 5% in the past 24 hours to drive gains among the top cryptos.

  • BTC traded above $96,000 on Friday morning, which was a decent rise from Thursday's low of $93,500. Ethereum (ETH), Solana (SOL), and BNB saw little change.

  • The yen briefly crossed 150 against the U.S. dollar amid expectations of a December rate hike by the Bank of Japan.

  • An analysis earlier this week signaled that Bitcoin's bullish run has weakened, and with the Aussie dollar/Yen exchange rate dropping, it could suggest a risk-off mood that may affect BTC.

Spot Ethereum ETFs racked up $224.9 million in net inflows over the past four trading days.

  • Spot Ether ETFs attracted $224.9 million in net inflows from Nov. 22-27, which was much higher than the spot Bitcoin ETFs that saw $35.2 million flowing in during the same period.

  • Ether's price surged by close to 8% over the past week, and reached over $3,590, thanks to positive market sentiment.

  • Ethereum's Tornado Cash court victory and speculation that crypto advocate Paul Atkins may replace Gary Gensler at the SEC contributed to the increased investor confidence.

A former senior employee at Binance filed a lawsuit against the crypto exchange’s UK arm, and made a number of allegations including bribery and unfair dismissal.

  • Former Binance employee Amrita Srivastava filed a lawsuit in the UK, and alleged that a colleague solicited bribes from a customer and that she was dismissed a month after reporting the issue in April of 2023.

  • A Binance spokesperson stated the alleged bribe was already known to the company and claimed Srivastava was terminated for "poor performance."

  • In the UK, unfair dismissal claims can result in compensation up to $150,000, while whistleblower cases may lead to unlimited awards if they are actually successful.

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