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  • SIGN price rallies 80% as top crypto exchanges add token

    SIGN price rallies 80% as top crypto exchanges add token

    • Sign (SIGN) price has jumped more than 80% amid multiple exchange listings, including on South Korea’s largest crypto exchange.
    • Upbit plans to list SIGN trading pairs for Korean won, Bitcoin and Tether (USDT).
    • Profit taking could derail Sign price momentum.

    Sign (SIGN) is up more than 80% in the past 24 hours, skyrocketing as multiple exchanges and trading platforms list the token.

    As of writing, the SIGN token traded near $0.13, up 85% and likely to rally further following its listing on Upbit, the largest cryptocurrency exchange in South Korea.

    Market buzz as Sign surges

    Sign is an omni-chain attestation protocol designed to power on-chain claims for identity, ownership, and credentials.

    The Sign Protocol, which operates across multiple blockchains, aims to make attestation technology more accessible and user-friendly, embedding it into everyday digital interactions.

    With services like Token Table for on-chain token distribution, EthSign for web3 signing, and the Sign Protocol for omni-chain attestation.

    Meanwhile, the Sign (SIGN) token is the platform’s native token, used for gas fees, staking and airdrop rewards.

    SIGN token’s remarkable price rally comes as Upbit, South Korea’s largest cryptocurrency exchange, announced the listing of the token.

    It joins other platforms, including Bitget, Bitrue and Gate.io in adding support for the token.

    The hype amid these developments have seen Sign’s token price jump sharply.

    Upbit plans to list SIGN with Korean won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs.

    Upbit said in a notice that deposits/withdrawals will open three hours after the announcement.

    However, the exchange did not provide an exact listing time for the token.

    Why does Upbit listing matter?

    South Korea is a major hub for crypto trading, and Upbit’s dominant position in the market has given SIGN a significant boost.

    The exchange’s decision to support SIGN reflects growing confidence in the project’s potential, especially given the fact that South Korean investors have historically shown massive enthusiasm for digital assets. Its listing of the token could help push prices higher.

    Notably, the trading volume of Sign (SIGN) has reached over $658 million, representing a staggering 1,462,136% increase in 24 hours.

    CoinGecko analysts indicate the spike signals a sharp rise in sentiment and market activity.

    Analysts are optimistic about its short-term trajectory, given the heightened trading volume and market interest.

    Price discovery may see buyers extend beyond $0.13, with momentum continuation benefiting from overall market performance.

    However, monitoring of whale activity could be key as is the fact that a reversal amid profit taking may be equally sharp and painful.

     

     

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  • Thumzup to add Bitcoin payments for gig economy workers

    Thumzup to add Bitcoin payments for gig economy workers

    • Thumzup will soon pay its gig workers via Bitcoin.
    • The Nasdaq-listed media and marketing firm recently added BTC as a treasury asset.

    Thumzup, the media marketing company that recently adopted a Bitcoin (BTC) strategy with a $1 million purchase, has announced plans to add crypto payments for gig economy workers.

    In a Nov. 19 announcement, Thumzup Media Corporation said it planned to soon add Bitcoin to its gig economy workers. The publicly-traded company will offer this option via its Account Specialist Program (ASP). It’s a move that expands on the marketing solutions provider’s businesses that allows its clients to pay cash to fans via Venmo and PayPal.

    This latest move also adds to the growing adoption of cryptocurrency payments, particularly in the gig economy.

    For its feature, Thumzup will leverage top crypto platforms like Coinbase to integrate BTC into its payout system.

    “We’re thrilled to empower the gig economy with the option of Bitcoin payments, especially in tech-forward areas like Los Angeles and South Florida,” Robert Steele, chief executive officer of Thumzup, said in a statement.

    “This initiative offers them faster transactions, lower fees, and more financial privacy. Plus, with Bitcoin’s growing acceptance, they can easily use their earnings for daily expenses or as a potential investment,” Steele added.

    Thumzup plans to roll out the ASP feature with crypto payments from January 2025. While the new model is expected to see greater traction, Thumzup will continue to support traditional bank payments for those that prefer the existing options.

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  • Bitcoin shrimps add record BTC to their holdings in November

    Bitcoin shrimps add record BTC to their holdings in November

    • Bitcoin price plummeting after FTX’s implosion in November provided shrimps – people with less than 1 BTC an opportunity to add to their balances at low prices.
    • According to new on-chain data tracking shrimp holdings, the cohort bought 96.2k more BTC in the 30 days after FTX collapsed.
    • The cohort’s holdings saw an all-time balance increase in the month and currently hold roughly 6.3% of bitcoin supply at 1.21 million.

    Despite the continued selling across the crypto market over the past month, Bitcoin ‘shrimps’ – wallets holding less than one BTC – have added massively to their overall balances since the FTX’s implosion.

    According to the latest data compiled by crypto exchange Bitfinex, investors have sold Bitcoin at a loss over the past 30 days as contagion fears and other macro factors combined to sink sentiment. But amid the widespread selling, there has been a significant accumulation drive from both shrimps and ‘crabs’ – wallets with up to 10 bitcoin.

    Analysis of the on-chain balances of these two cohorts suggest that a portion of small retail investors have indeed been unfazed by the negative sentiment and jitters around FTX. Simply, wallets with less than 10 BTC have used the downturn in prices to buy Bitcoin.

    Shrimps added 96.2k BTC since early November

    As some investors panic-sold after the shocking news of FTX’s collapse, a few people took the opportunity to buy low. In November, Bitcoin price fell sharply below $20,000 and went all the way to levels beneath $16,000.

    Weak hands sold as hodlers took advantage. And according to the Bitfinex report, its not just whales who might have seized on the prevailing sell-off. 

    Shrimps buying the dip managed to add more than 96,000 bitcoins to their wallet balances. In fact, data puts it down to 96.2k BTC that shrimps bought since FTX collapsed, with the purchases accounting for an all-time high increase in the cohort’s wallet balances.

    According to the statistic, shrimps now hold more than 1.21 million bitcoins to account for roughly 6.3% of the benchmark cryptocurrency’s circulating supply. 

    As of writing, on-chain data sows the circulating supply of Bitcoin is 19.23 million coins, while addresses richer than $1 stand at nearly 34 million.

    Wallets with less than 10 BTC also buy the dip

    Crab, as noted above, are wallets that hold less than 10 bitcoins. Data by Glassnode shows that this cohort bought 191.6k BTC in the 30 days after FTX’s collapse. The group’ net position change during this period saw total balance also swell at an all-time high increase, with the month higher than in July 2022 when crabs bought 126k BTC following the May/June turmoil.

    So what does this statistics reveal? According to the report, its likely retail investors are breaking from past behaviour of heavily selling during bear cycles.

    Investor bullishness on Bitcoin is thus a mark of the new wave of resilience even as the market stares at potentially more pain with Bitcoin price poised near $17,000.

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