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Tag: Token

  • Former NYC mayor backed token tumbles on Solana amid liquidity fears

    Former NYC mayor backed token tumbles on Solana amid liquidity fears

    Former NYC mayor-backed NYC token tumbles on Solana amid liquidity fears

    • Some crypto community members accused the project team of removing liquidity, sparking rug pull fears.
    • Rune flagged data suggesting $3.4 million was drained from the token’s liquidity pool.
    • Bubblemaps showed $2.5 million in USDC removed near the peak, with $900,000 not returned after partial additions.

    Former New York City Mayor Eric Adams has launched a Solana-based meme coin that he said is aimed at fighting antisemitism and supporting the next phase of innovation in the city.

    The token, called the New York City token (NYC), was announced in a Jan. 13 post on X and quickly went live for trading on the Solana decentralised exchange Jupiter.

    In the post, Adams shared a link to the token’s official website and said the project was built to fight the spread of antisemitism and anti-Americanism across the US and New York City.

    The NYC token initially saw strong momentum after it began trading.

    It rallied to a high of $0.58 and briefly reached a market cap of $580 million, according to DEXScreener data.

    Liquidity movements trigger rug pull allegations

    As the price fell, accusations surfaced online that the team behind the token may have removed liquidity, adding to fears of a potential rug pull.

    Crypto analyst Rune flagged data indicating that at least $3.4 million had been drained from the token’s liquidity pool.

    Separately, analytics posted by Bubblemaps suggested that a wallet linked to the token’s deployer removed $2.5 million in USDC liquidity when the token was trading near its peak.

    After the price had already plunged by more than 60%, about $1.5 million in USDC was added back.

    Still, roughly $900,000 was not returned, which further fuelled suspicion among some community members and investors.

    The allegations have not been confirmed, but the timing and size of the liquidity movements quickly became a central focus of discussion.

    Team cites TWAP strategy to manage volatility

    In response to the concerns, the NYC token X account released a statement claiming the project is using Time-Weighted Average Price (TWAP) mechanisms to manage price stability.

    The account said funds were being added to the liquidity pool gradually to reduce the risk of further disruption after the initial volatility seen during the launch.

    Despite that explanation, the episode has kept attention on how liquidity is handled for newly launched meme coins, especially when trading activity accelerates rapidly across decentralised markets.

    Website details token split and proposed use cases

    While the token’s official website offers limited detail about the project’s long-term direction, Adams said in a Fox Business interview that proceeds from the NYC token would go toward nonprofits focused on raising awareness about antisemitism and anti-Americanism through educational campaigns.

    Other proposed use cases include funding blockchain and crypto education, along with scholarships for students in underserved communities.

    Adams officially stepped down as mayor on Jan. 1, after being replaced by Zohran Mamdani.

    During his time in office, he was one of the most outspoken political figures in support of cryptocurrency.

    His initiatives included converting his first three paychecks into Bitcoin and Ethereum, creating the Office of Digital Assets and Blockchain Technology, and launching the NYC Blockchain Plan to encourage responsible innovation and attract Web3 businesses.

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  • Story Protocol’s IP token surges 22%, outpacing top altcoins: check forecast

    Story Protocol’s IP token surges 22%, outpacing top altcoins: check forecast

    Story Price Pumps

    • Story traded at lows of around $2.12 on Monday but has since staged a sharp recovery.
    • IP rose to above $2.65, with trading volume spiking over 400% to $198 million.
    • Buyers may ride bullish sentiment to target $3 or higher.

    IP, the native token of the Story Protocol, has outperformed top altcoins in the past 24 hours.

    At the time of writing, the token’s price had pumped by more than 22% to its highest level since early December 2025.

    Other coins seeing notable gains include Monero, Canton and Aerodrome Finance. Ethereum targets $3,500 as price holds key level.

    Story is a layer-1 blockchain project focused on tokenizing and making intellectual property programmable for creators in the AI era, leading this pack.

    Its gains come amid broader upside moves for privacy-focused altcoins, and the IP price was up amid a more than 400% increase in daily trading volume.

    IP price breaks above $2.50 on mega volume

    As noted, the Story token has experienced a breakout moment.

    But as its price decisively broke above the $2.50 level, buyers did so on a significantly higher 24-hour trading volume.

    With bulls breaching $2.10,  the asset soared to above $2.65. Data showed trading volume exploded by more than 450% to $198 million.

    The surge reflects strong bullish momentum, and IP could extend its upward trajectory toward the $3 mark. Bulls see the level as a psychological barrier and a breakout might allow for new gains.

    From a technical perspective, the token trades above the 50-day Exponential Moving Average (EMA) at $2.31, providing solid support for further advances.

    If broader top cryptocurrencies flip decisively positive, IP could see additional rally potential.

    Story IP Chart
    Story price chart by TradingView

    However, the Relative Strength Index (RSI) on the daily chart stands at 73 and in the overbought zone.

    This suggests a potential retreat as profit-taking emerges. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows indecisiveness, with the histogram showing increased weakness.

    Story gains as Monero leads top altcoins higher

    As the chart below shows, IP has posted impressive gains today.

    The fresh bullish wave to highs of $2.65, with the token pumping more than 22% in 24 hours, aligned with notable upticks for several other cryptocurrencies.

    Monero (XMR) led privacy coins higher as XMR price hovered near $600 in a strong rally.

    As the coin gathered pace, coins that had dumped in recent sessions, including Zcash (ZEC), also rose. The token is looking to ignore developer turmoil to recover and was up 5% to above $410.

    Monero and Zcash remain top privacy coins, but with regulatory scrutiny, such as Dubai’s ban, putting the tokens into the spotlight.

     

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  • Sky token slides over 5% as altcoin weakness deepens

    Sky token slides over 5% as altcoin weakness deepens

    Bitcoin Cash Bull Vs Bear

    • Sky token price dropped over 5% as altcoins struggled.
    • The token could fall further amid broader market weakness.
    • Anchorage Digital has reportedly transferred over 69 million SKY tokens.

    Sky (SKY), the governance asset of the decentralized Sky Protocol (formerly MakerDAO), has dropped by over 5% in the past 24 hours as major cryptocurrencies face downward pressure.

    After renewed uptrends in early 2026, Bitcoin has retreated to support at $90,000, Ethereum to $3,000 and XRP to around $2.15.

    Increased trading volume as the token faces significant downward pressure suggests there could be further downside movement.

    SKY price falls amid large token transfer

    SKY’s price declining nearly 6% to trade near $0.056 is a drop that aligns with a broader altcoin market weakness observed on Friday.

    Sky Price Chart
    Sky price chart by TradingView

    The token’s struggles come as profit-taking adds to risk-off sentiment.

    For Sky, sellers have been on top since prices fell from highs of $0.096 in July 2025.

    Bears even tested the support levels around $0.041 in November.

    Recent gains saw buyers top $0.068, but things have looked tough on the upside across the cryptocurrency market, and SKY is following a similar trajectory.

    On Jan. 9, the price decline happened as onchain data showed that Anchorage Digital, a prominent institutional crypto custodian and federally chartered bank, had moved over 69 million SKY tokens.

    This significant on-chain transfer is likely a repositioning for custody services, institutional allocation, or other strategic purposes.

    However, such large transfers often trigger heightened selling activity.

    What next for SKY price?

    Technical indicators on the daily chart point to continued downside risk for SKY in the near term.

    The Relative Strength Index (RSI) is hovering in the mid-40s, suggesting weakening momentum and leaving room for a further slide toward oversold conditions.

    At the same time, the Moving Average Convergence Divergence (MACD) remains bearish, with the MACD line below the signal line and a negative histogram.

    Despite the recent decline of roughly 9% over the past week, some investors remain constructive on the token’s longer-term outlook.

    Supportive factors cited include ongoing token buybacks funded by protocol revenue and signs of growing real-world usage.

    Data also shows that annualised SKY repurchases have risen sharply alongside a jump in revenue, placing the project among the top-ranked protocols by buyback activity.

    While Hyperliquid leads the group, Sky ranks second, ahead of names such as Pump.fun, TRON and Solana.

    The positive fundamentals may provide a boost that could see bulls counter macro-driven headwinds.

    If bulls take control, bullish price targets include $0.080 and $0.10. Conversely, bears might eye $0.050 and $0.037 lows.

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  • Plume token gains 8% as Coinbase adds trading support

    Plume token gains 8% as Coinbase adds trading support

    PLUME Token

    • Coinbase has listed Plume, an EVM-compatible Layer 1 blockchain for tokenizing real-world assets.
    • PLUME rose 8% as Bitcoin (BTC) oscillated between $90,000 and $92,000 amid lack of significant momentum. 
    • Other altcoins, including Hype (HYPE) and Cronos (CRO), are trading higher despite overall caution.

    The cryptocurrency market remains cautious despite notable gains for tokens such as Plume (PLUME), which has climbed 8% following Coinbase’s listing.

    As Plume’s upward trajectory stands out amid a generally cautious market landscape, investors have also noted price movements for Zcash, Ondo, and Cronos, among others.

    Meanwhile, major cryptocurrencies are showing mixed performances, with Bitcoin poised near $90,000.

    Coinbase lists Plume (PLUME)

    Coinbase, one of the world’s leading cryptocurrency exchanges, has announced the launch of spot trading for Plume (PLUME) and Jupiter (JUPITER).

    The listings go live on December 9, 2025.

    Per the exchange, the opening of the PLUME-USD and JUPITER-USD trading pairs is scheduled for 9 AM PT or later.

    This will be contingent on the pairs meeting liquidity conditions and availability in supported regions.

    Coinbase’s listing has bolstered Plume and highlights the US crypto exchange behemoth’s commitment to expanding its offerings to include innovative blockchain projects.

    Plume’s focus is on RWA tokenization, while Jupiter is a leading Solana-based DEX aggregator.

    Availability via Coinbase could help attract significant trading interest for PLUME and JUP.

    Notably, it’s likely to enhance the tokens’ liquidity and accessibility for institutional and retail investors alike.

    PLUME price jumps 8% on listing news; Can bulls go higher?

    As noted, the news of Coinbase’s support propelled PLUME’s price by 8% to above $0.022.

    Gains for the token came as the broader crypto market held its breath amid Bitcoin’s flirting with the $90,000 mark.

    BTC has swung around $90k and $92k on low-volume moves, while altcoins have remained largely subdued.

    As the Fear & Greed Index hangs at 22 and indicates extreme Fear, Ethereum, BNB, XRP, and Solana have also touched key support areas.

    Despite this slight bearish sentiment, PLUME’s rally aligns with other top movers.

    This includes ONDO’s rise as news of the SEC ending its probe filtered through.

    Bittensor (TAO) is also eyeing gains ahead of its halving while privacy coins Zcash and Dash continue to record winnings.

    For PLUME, the critical question is whether bulls can sustain this momentum.

    The immediate outlook requires that the token maintains support above $0.020 to pave the way for further gains.

    However, a drop below this mark might signal a shift to bearish trading.

    PLUME hit its all-time low of $0.018 on October 11, 2025.

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  • FUSE token regains momentum after SEC issues no-action letter to the Solana DePIN project

    FUSE token regains momentum after SEC issues no-action letter to the Solana DePIN project

    SEC issues no-action letter to FUSE token

    • SEC clears FUSE token as a non-security, providing regulatory clarity.
    • FUSE token rewards network participation and green energy actions, not profits.
    • Market shows renewed momentum, boosting FUSE token price outlook.

    The US Securities and Exchange Commission (SEC) issued a no-action letter to Fuse, a Solana-based decentralised physical infrastructure network (DePIN) project, providing the token with rare regulatory clarity.

    This development has sparked optimism on the FUSE token’s potential, highlighting its utility-driven design and positioning it as a notable example of how blockchain projects can navigate US securities regulations.

    SEC clears Fuse

    Fuse Crypto submitted a formal request to the SEC’s Division of Corporation Finance on November 19, seeking confirmation that it could continue offering its FUSE token without triggering enforcement action.

    In its response, the SEC confirmed it would not recommend enforcement, based on the specific facts and circumstances described by Fuse.

    This no-action letter, while conditional, marks a significant milestone for the project, as such regulatory guidance is rare in the crypto space.

    Notably, the SEC decision signals a shift under Paul Atkins’ leadership toward a more practical and balanced approach to token oversight, contrasting with the more stringent policies of previous administrations.

    Unlike speculative tokens, the FUSE token is designed for participation and network utility.

    It functions as a reward for users maintaining Fuse’s distributed infrastructure rather than as an investment vehicle.

    Holders earn tokens through active engagement, such as contributing to the network’s Solana-based operations, installing solar panels, or using electric vehicle chargers.

    By linking token rewards to tangible, energy-focused activities, Fuse has structured FUSE as a consumptive asset that aligns with regulatory expectations, reducing the risk of it being classified as a security under US law.

    Utility-driven token model

    The SEC highlighted that FUSE token holders do not expect profits from Fuse’s managerial efforts, and the token does not grant ownership, dividends, or voting rights.

    This utility-driven framework allows participants to redeem tokens for benefits such as energy bill discounts, priority access to home electrification upgrades, or carbon-offset programs.

    By emphasising real-world use cases and sustainable energy participation, Fuse has created a model where blockchain technology directly incentivises environmentally conscious behaviour.

    The token’s scalability ensures it can grow alongside the project’s broader green energy initiatives, reinforcing its role as a functional, consumptive asset rather than a speculative instrument.

    The approval has resonated across the DePIN sector, a space valued at over $24 billion, as it provides a blueprint for other infrastructure-driven blockchain projects.

    Fuse’s approach demonstrates how decentralised networks can effectively integrate tokenised rewards with practical utility, offering both financial and environmental value to participants.

    Market impact and FUSE token price outlook

    Following the announcement, the FUSE token has shown signs of regaining momentum in trading markets.

    Current figures indicate that the token trades around $0.0077, with a market capitalisation of approximately $2.4 million and total value locked exceeding $68 million.

    Over the past year, the token experienced a significant decline from its all-time high of $2.13 in January 2022, but the SEC’s no-action letter has injected renewed confidence among investors.

    Looking ahead, Fuse’s strengthened regulatory position, combined with its utility-oriented model, could positively influence the FUSE token price outlook over the medium term.

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  • Lisk (LSK) token price has soared 62%: here’s what is fueling the rally

    Lisk (LSK) token price has soared 62%: here’s what is fueling the rally

    Lisk (LSK) token price has soared 62%

    • The Lisk (LSK) token has surged 62% amid altcoin rotation and ecosystem growth.
    • The key support lies at $0.2574, while the immediate resistance lies between $0.3372 and $0.4591.
    • The breakout has coincided with a dramatic surge in Lisk open interest.

    Lisk (LSK) has captured the attention of crypto investors today as the token experienced a remarkable 62.6% surge in just 24 hours.

    The sudden rally has pushed LSK to new short-term highs, outpacing a broadly flat cryptocurrency market.

    Analysts are pointing to a combination of technical triggers, ecosystem developments, and market rotation that are fueling renewed optimism in the once-sleepy token.

    Explosive breakout drives market attention

    Lisk (LSK) has broken out of a descending wedge pattern that had constrained its price since July.

    In a single trading session, the token rocketed from $0.18 to an intraday high of $0.42, generating significant trading volumes.

    The breakout coincided with a dramatic 258% surge in open interest, with $38.9 million added in just four hours.

    However, a slightly negative funding rate of -1.96% intensified short liquidations, triggering $1.6 million worth of forced exits across major derivatives markets.

    Market rotation and ecosystem growth

    The LSK rally is also closely tied to broader market dynamics, where Bitcoin dominance has fallen to 59.3%, signalling a rotation of capital into high-growth altcoins.

    Lisk (LSK) benefited from this flow, seeing its 24-hour trading volume surge by over 5,500% to $237 million.

    Investors appear to be favouring LSK as a promising, undervalued token amid muted Bitcoin volatility.

    Further bolstering sentiment, Lisk’s ecosystem has shown meaningful development with the launch of a $15 million EMpower Fund supporting Web3 startups across Africa, LATAM, and Asia, while DeFi integrations like Gearbox Protocol have expanded LSK’s lending and borrowing utilities.

    The Lisk Network has also migrated to the Optimism Superchain, bringing its app ecosystem in line with other OP stack chains like Base.

    These developments enhance Lisk’s credibility and long-term growth prospects, attracting speculative capital and encouraging active trading in the short term.

    Lisk (LSK) token price outlook

    The LSK token has demonstrated a remarkable ability to rebound even after extended periods of decline, and recent developments in Web3 applications and derivatives trading have reignited investor interest.

    A blend of technical momentum, ecosystem growth, and capital rotation into altcoins underpins a cautiously optimistic outlook for Lisk (LSK) in the near term.

    If the Lisk price can maintain levels above $0.32, the token may target the $0.42–$0.45 range, signalling continued bullish momentum.

    However, traders should remain vigilant, as sharp rallies like this often experience short-term retracements, especially seeing that the RSI is already in the oversold region.

    The key levels around $0.345 and $0.402 will be crucial in shaping market sentiment, and sustained trading volumes above $200 million per day would further reinforce the breakout.

    From a technical perspective, LSK needs to stay above $0.2574 to support its upward trajectory.

    Lisk (LSK) token price analysis
    Lisk (LSK) token price chart | Source: CoinMarketCap

    Breaking through the first major resistance at $0.3372 could pave the way toward $0.4591, with a potential third resistance level at $0.5629 if bullish conditions persist.

    But on the downside, a breach below $0.2574 may expose the token to a deeper correction, with the next support level at $0.1891 serving as a critical floor for buyers, according to CoinLore.

    Overall, the Lisk (LSK) token price reflects a delicate balance between renewed optimism and short-term caution.

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  • ZKsync price jumps above $0.06 with 87% weekly gains amid major token utility overhaul

    ZKsync price jumps above $0.06 with 87% weekly gains amid major token utility overhaul

    ZKsync Price Gains

    • ZKsync price gained by 11% and hit a high of $0.068.
    • Gains came as bulls hold steady and weekly uptick climbs to 87% amid Atlas upgrade.
    • ZKsync has also received endorsement from Ethereum co-founder Vitalik Buterin.

    ZKsync surged by more than 11% in intraday gains on November 5, 2025 to hit highs above $0.068 as upbeat sentiment held.

    With key announcements regarding major enhancements to ZK token utility, the altcoin’s price has extended gains to over 87% in the past week.

    Renewed interest in the token has also come amid a key boost by Ethereum co-founder Vitalik Buterin.

    ZKsync price extends weekly gains to 87%

    Despite a widespread downturn in the cryptocurrency market, ZKsync’s ZK token has demonstrated impressive strength.

    Bulls defied the crash to reach new highs of $0.068, with an 11% price increase that also boasted a 21% spike in daily trading volume for ZK.

    Per CoinMarketCap, ZKsync’s daily volume hit an impressive $499 million over the past 24 hours.

    Like Aster, Bitget Token and Hyperliquid, ZK Bulls are showing resilience. It trades near $0.061, off intraday highs but still above session lows of $0.049.

    Analysts suggest that ZK’s ability to hold steady as trading volumes remain elevated may allow bulls to target $0.10, a level last seen in March.

    Notably, ZK has traded in a downtrend since rejecting highs of $0.26 in early December, 24..

    ZKsync token to get major utility overhaul

    The catalyst behind ZK’s recent rally looks to be the community’s reaction to a proposed upgrade that seeks a comprehensive overhaul of ZK token utility.

    Atlas upgrade brings this possibility, a major enhancement set to amplify the ZK token’s functionality.

    By expanding the token’s use cases, the upgrade aims to create a more robust economic model, where ZK serves not only as a governance tool but also as a conduit for value accrual from off-chain activities.

    “This proposal presents a high-level direction for $ZK token utility,” said Alex Gluchowski, founder of ZKsync and CEO of Matter Labs.

    He elaborated on the strategic intent, noting that the changes are designed to unify on-chain and off-chain value flows.

    “Under this proposal, value generated from such enterprise components would flow into the same governance-controlled mechanism as on-chain value. In practice, this means establishing structures through which licensing-based revenue can return to the network and enter the same ZK buyback and allocation pathways, preserving a single unified economic loop,” the ZKsync co-founder noted.

    Also buoying ZKsync price this past week has been a recent endorsement from Ethereum co-founder Vitalik Buterin.

    Buterin’s public support has added significant credibility, emphasizing the protocol’s alignment with Ethereum’s scaling vision and its potential to drive mass adoption.

    The Ethereum co-founder has long advocated for zero-knowledge technology, which is ZKsync’s focus.

    As the ecosystem matures, stakeholders anticipate increased DeFi activity.

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  • ai16z gains as Binance announces AI16Z to ELIZAOS token swap

    ai16z gains as Binance announces AI16Z to ELIZAOS token swap

    ai16z-price-gains

    • AI16Z price has spiked more than 11% in the past 24 hours to hit $0.069.
    • Gains come amid Binance support for AI16Z to ELIZAOS token swap.
    • ElizaOS is an AI project that rebranded from ai16z in January.

    AI16Z price is up by more than 11% in the past 24 hours and currently ranks among the altcoins defying broader cryptocurrency market downside pressure.

    In the last 24 hours, altcoins such as Zcash and GHOST have gained as the privacy-coin narrative persists.

    ai16z has also gained and is among the digital tokens that are looking to thrive on the back of major network support.

    Binance to support AI16Z to ELIZAOS token swap

    One of the likely catalysts for ai16z price in the past 24 hours appears to be Binance’s endorsement of the AI16Z to ELIZAOS token swap.

    The exchange, the world’s largest by trading volume, is set to suspend AI16Z trading on its Binance Alpha platform on November 6, 2025.

    According to details, the brief halt in trading will allow the exchange to facilitate the transition.

    Specifically, Binance will support the token swap at the ratio of 1 AI16Z to 6 ELIZAOS.

    “At 2025-11-06 10:00 (UTC), deposits of AI16Z tokens to Binance Alpha 2.0 Accounts will be suspended. Users should ensure they leave sufficient time for their AI16Z deposits to be fully processed prior to this time. After the event is complete, deposits of AI16Z will no longer be supported,” Binance wrote.

    Trading of the elizaOS (ELIZAOS) token will resume at 2 pm UTC on Nov. 7, with users also able to deposit to their accounts.

    What is ElizaOS?

    ElizaOS began as the memecoin ai16z (AI16Z) inspired by the tech venture capital firm Andreessen Horowitz (a16z).

    However, it has since transitioned to become one of the leading agentic operating systems, rebranding from ai16z to ElizaOS in January 2025.

    The project’s token is issued on Solana’s network and allows for ElizaOS governance, AI agents payments and ecosystem rewards.

    ElizOS leverages decentralized governance via its decentralized autonomous organization model and features AI-driven governance.

    AI16Z price outlook

    The token is also up amid a broader bullish outlook for artificial intelligence-related cryptocurrencies, with AI16Z price up more than 17% this past week.

    Bulls have pushed this token from intraday lows of $0.055 to above $0.069.

    If bullish momentum holds, the altcoin could target October 2025 highs above $0.10.

    AI16Z Price Chart
    AI16Z chart by CoinMarketCap

    Daily volume is up 49% to over $62 million. Meanwhile, AI16Z has a total supply of 1.1 billion tokens, with a market cap of $76.4 million.

    Given, some coins are seeing fresh momentum despite Bitcoin’s crash to lows of $106k on Thursday.

    While the benchmark digital asset has since recovered to around $110,000 in early trading Friday, it is in the red on the day.

    Top alts Ethereum, XRP and Solana are also battling as bulls attempt to reclaim key price zones.

     

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  • Magic Eden’s ME token soars 35%, reclaims $0.60 amid ‘big week ahead’ hype

    Magic Eden’s ME token soars 35%, reclaims $0.60 amid ‘big week ahead’ hype

    Magic Eden Token

    • Magic Eden price soared more than 35% amid a breakout above the key resistance of $0.50.
    • Trading volume jumped 1,280% to over $129 million to signal buying pressure.
    • “A big week” ahead and other potential catalysts could boost ME bulls.

    Magic Eden’s native token, ME, has experienced a significant price surge in the past 24 hours.

    Prices rose to intraday highs above $0.60 for the first time since the October 11 crash, with bulls’ gains coming amid a retest of a key technical barrier.

    As the altcoins rank among the top gainers in the 500 largest cryptocurrencies by market cap, buyers are likely to hold the crucial level and target a new leg up.

    But what could help ME price in the short term?

    Magic Eden among top gainers as price pumps 35%

    Per CoinMarketCap data, Magic Eden’s ME token is one of the standout performers in the cryptocurrency arena today.

    The token’s 35% uptick in the past 24 hours has come amid a robust trading volume of $129 million – the metric is up 1,280% in the past 24 hours.

    This performance has not only outpaced the broader market but also dwarfed top performers such as Pi Network, Virtuals Protocol and Zcash.

    ZEC hovered around $270 on October 24, but was near $350 at the time of writing.

    On the technical front, ME broke above the critical hurdle at $0.50, reaching intraday highs of $0.60.

    While the altcoin is well off its all-time peak above $13.24, bulls have bounced off the all-time low of $0.23.

    ME could retest $0.55 or $0.50 before seizing on an uptick across the market to target the psychological $1 mark.

    RSI at 60 suggests bulls have more room to aim for gains.

    Magic Eden price chart by TradingView

    What could help Magic Eden price higher?

    Several factors appear to have converged to ignite this pump.

    Notably, the official Magic Eden X account issued a cryptic yet bullish proclamation early this morning: “Big week ahead.”

    This post, which garnered over 300 likes and widespread speculation within the community, hinted at impending announcements or developments that could further bolster the platform’s growth.

    Such communications from project leads often serve as potent catalysts, drawing in retail traders and amplifying social sentiment.

    ME gains also follow the community cheering of the recent acquisition of Dynamic by Fireblocks, which the platforms announced on October 23.

    As a key user of Dynamic’s developer platform, Magic Eden could benefit significantly from this integration.

    Dynamic powers over 50 million on-chain accounts for industry leaders, including Kraken, Ondo Finance, Magic Eden and zerohash.

    Magic Eden’s seamless user onboarding and embedded wallet functionalities for NFT trading across chains.

    The deal merges Fireblocks’ institutional-grade custody with Dynamic’s agile tools, creating what executives describe as the “first complete custody-to-consumer stack” for on-chain finance.

    Overlaying these platform-specific tailwinds is a broader crypto market rebound.

    While gains in October 2025 remain muted as the macroeconomic environment hit risk-on sentiment, Bitcoin’s climb to $116,000 and Ethereum’s break to $4,200 has bulls excited.

    The big week for crypto includes a potential rally ahead of a Federal Reserve rate cut, the impact of the US-China trade deal and SEC approval for exchange-traded funds.

    The macroeconomic lift could spill over to altcoins like Magic Eden.

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  • Jito’s JTO token rises on a16z’s $50 million investment in Solana staking protocol

    Jito’s JTO token rises on a16z’s $50 million investment in Solana staking protocol

    a16z Invest In Jito

    • Jito’s native token, JTO, jumped 3% intraday on October 16, 2025, following a16z’s $50 million investment.
    • The $50 million investment by Andreessen Horowitz’s crypto arm, acquiring locked JTO tokens, signals strong institutional confidence in Jito’s liquid staking and MEV solutions.
    • The funding will fuel Jito’s Block Assembly Marketplace and node expansion.

    Andreessen Horowitz’s crypto arm has  announced a $50 million investment in Jito, acquiring a substantial allotment of the protocol’s native JTO tokens.

    Jito, an important infrastructure layer on the Solana blockchain, offers liquid staking and maximum extractable value (MEV) extraction.

    a16z investment of $50m in staking protocol

    Andreessen Horowitz’s (a16z) $50 million infusion into Jito marks the venture firm’s largest single commitment to a Solana staking protocol.

    It eventually emphasizes strategic token purchases over traditional equity. In exchange for the investment, a16z received non-circulating JTO tokens, locking them for an extended period.

    Brian Smith, executive director of the Jito Foundation. highlighted the deal’s novelty:

    If you’re accepting long-term alignment where you can’t sell for a while, then there’s traditionally some modest discount associated with that.

    This structure, particularly 16z’s prior $55 million LayerZero and $70 million EigenLayer investments, prioritizes ecosystem growth over quick flips.

    The capital to accelerate Jito’s roadmap, including BAM node expansion.

    Strategically, it aligns a16z with Solana’s high-throughput ethos, where Jito’s MEV tools mitigate front-running risks plaguing other chains.

    This infusion arrives amid a16z’s aggressive crypto pivot, following $4.5 billion in new funds raised earlier in 2025.

    As institutional inflows swell, the deal could herald a staking renaissance, democratizing yields while fortifying blockchain security.

    Jito price outlook

    Jito is currently trading at $1.16, up nearly 3% and has touched highs of $1.19 across major exchanges.

    The gains came amid news of a16z’s investment and reflected trader optimism around the token as institutional validation takes root. Solana’s price rising in the past few weeks also buoyed traders.

    Analysts are linking this rebound to the investment’s timing, coinciding with positive Solana network metrics. This includes a 15% uptick in daily active users and rising decentralized finance volume.

    In terms of the technical outlook for JTO, the daily chart price is near the oversold territory with the Relative Strength Index (RSI) at 35.

    The indecisive market nonetheless has Jito poised above $1 after bulls recovered from lows of $0.33 seen on October 10, 2025.

    Jito price chart by TradingVew

    Other than the technical perspective, regulatory shifts that could impact liquid staking tokens remain a risk.

    However, recent SEC exemptions and broader market downturns indicate a long-term bullish outlook.

    The surge to near $1.20 suggests bulls could eye the $1.50-$1.70 range, above which lie the key targets of $1.85 and $2.56.

    If market conditions align, buyers will target the all-time peak above $5.61 reached in December 2023.

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