After hitting an all-time high of $69,000 earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) is moving sideways. Some on-chain metrics show that long-term BTC holders are booking profits for the first time in six months and are starting to distribute their coins. Judging by the market movements, it seems that investor interest is shifting to cryptocurrencies other than BTC. we have cryptocoin.com We have compiled altcoin projects that are pregnant with important developments in our article. Today is an important day for 5 altcoins. Let’s look at the details together…
There have been important developments affecting the market in recent days.
There have been important developments affecting the market in recent days. Rumors that Chinese real estate giant Evergrande went bankrupt weighed on the markets. On Friday, November 12, the US Securities and Exchange Commission (SEC) announced that it has rejected the spot Bitcoin exchange-traded fund (ETF) offered by VanEck. This ETF is a product that tries to follow the spot movement of the BTC price. The ETF application was rejected by the SEC on the grounds of possible manipulation in the Bitcoin market.
VanEck’s spot Bitcoin ETF application was first filed in March by the CBOE BZX Exchange. The U.S. SEC also said that VanEck had not done enough to provide confidence that it could prevent fraudulent trading to protect investors. Bitcoin price is still trading up 5% since the beginning of November and is trading up about 10% on monthly charts. Although the charts show that long-term holders are profiting from this price, the inventor of the stock-to-flow model, PlanB, is confident that the BTC price can reach $98K by the end of November.
Today is a critical day for 5 altcoins!
However, the mixed outlook in BTC is also leading investors to altcoins, according to some commentators, despite the positive forecasts. Today, there are cryptocurrencies that will make significant developments. Today is an important day for 5 altcoins, here are the details:
- Boson Protocol (BOSON) may make an important partnership announcement.
- IRISnet (IRIS) will do the Hub 1.2 mainnet upgrade.
- Polkacity (POLC) will hold a coin burning event.
- Diamond Boyz Coin (DBZ) will be listed on the XT.COM exchange today.
- Electra Protocol (XEP) will hold a coin burning event.
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