The new trends in crypto today see NFT as the leader for November, TYMIO founder Georgii Verbitskii who has predicted that Bitcoin would be at $180,000 by 2025 end, and Alexey Pertsev, the developer of the cryptocurrency mixing protocol Tornado Cash, who will still be in jail as he waits for his trial.
NFT sales hit $158 million monthly
Non-fungible tokens (NFTs) managed to keep a quite stable weekly sales volume even though there was a slight drop as compared to the rise of last week. On November 24th, the NFT data tracker CryptoSlam pointed out that digital collectibles had a very good seven days as they generated a sales volume of approximately $158 million during the last seven days. The data demonstrates a 12.7% decrease when the week before, digital collectibles had $181 million in weekly sales volume.
In spite of the slowdown, the weekly volume is still far beyond its record at the beginning of November. From Nov. 4 to 10, NFTs had a weekly sales volume of only $93 million, which was a 69% increase from the beginning of the month. Ethereum kept its place as the top winner for weekly NFT sales volume. The network had $49 million of sales, a 25.9% decline if compared to the previous week. Bitcoin was second with $43 million in sales, which was a 29% decrease.
The Solana network retained its position as the third highest in sales volume for digital collectibles. The network reported $23.9 million of weekly sales, a 9% fall from the previous week. Furthermore, Polygon, Mythos Chain, Immutable and BNB Chain altogether have a sales volume of $35.8 million for the week.
TYMIO founder forecasts $180,000 Bitcoin by 2025
Through his TYMIO decentralized finance platform, Georgii Verbitskii predicts that the price of Bitcoin will reach $180,000 by the end of 2025. According to him, in a statement to Cointelegraph, Verbitskii expects to see Bitcoin reach a minimum $100K level before the end of the upcoming year and perhaps even $120K at the turn of the next century when the Trump administration assumes office in January 25, 2024. Before the one who will take the office of the president on the day that is the 25th of Jan is sworn in the White House.
Verbitskii has also stated that supply-side issues will be the main thing that is going to be the reason why Bitcoin’s volatility would be extremely high. But, he says, the supply shock that would happen might be the reason for the price to trend upward. The measure from the CryptoQuant, Bitcoin exchange reserve which is a tool of the number of Bitcoin being circulated on exchanges – has decreased and rages at a multi-year low.
Bitcoin Surges Past $38,000 Amid Market Optimism
Bitcoin outperformed all its peers today as it surpassed $38,000 and thus, confirmed that it is the main asset among the cryptocurrencies. This is the result of the inflow of institutional money into the market which, according to Bloomberg, is being channeled through a number of major banks and financial companies that are considering the introduction of one or more Bitcoin-backed ETFs. Bitcoin’s price movement, analysts argue, is an indication of the rising confidence.
The asset’s potential as a hedge instrumental against the inflation and economic problems that are spreading globally. Nevertheless, a bit of precaution is necessary as volatility. The market still is a big problem, the market should not go unguarded. Additionally, the specialists suggest that, in case of significant macroeconomic shifts such as. Day In Cryptocurrency: A change in the monetary policies of the US Federal Reserve. Bitcoin may respond accordingly, therefore, it is wise to be aware of such events.
Also Read: Here Are My Predictions for Crypto in 2025
Final Thoughts
Today’s events show how the cryptocurrency market continues its constant development. From court rulings and regulatory changes to technological advances and market movements, this is a real hot spot. Whether you are an investor, developer, or just a casual observer.
It is important to be well-informed about the crypto market to navigate this intricate yet exciting field. While the cryptocurrency universe keeps growing up. One thing is definitely true: it will continue to attract attention worldwide, hence, determining the future of finance and technology.
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