Pakistan considers rupee-backed stablecoin to boost financial access

PANews reported on November 9th that, according to Crypto.news, CryptoSlam data shows that NFT market transaction volume fell 9.22% to $85.31 million in the past week. The number of NFT buyers dropped 96.75% to 20,349; the number of sellers decreased by 95.05% to only 23,241. The number of NFT transactions decreased 4.21% to 1,405,561. Ethereum network transaction volume reached $33.42 million, down 14.97% from the previous week. Base network transaction volume reached $7.25 million, down 27.35%. Mythos Chain network transaction volume reached $7 million, down 11.3%. This week's high-value deals include: CryptoPunks #8295 sold for $196,275.14 (54.69 ETH). CryptoPunks #5361 sold for $173,369.70 (45 ETH). CryptoPunks #5295 sold for $165,743.73 (49.99 ETH). CryptoPunks #9537 sold for $160,023.86 (41.5 ETH). CryptoPunks #2845 sold for $151,059.23 (39 ETH).

XRP burn rate surges over 60%, signaling renewed network momentum. Price rebounds above $2.30, restoring market confidence after corrections. ETF anticipation fuels optimism for XRP’s potential trillion-dollar valuation. The XRP market witnessed a remarkable turnaround following a period of intense sell-offs that shook investor confidence. After days of price weakness, XRP has regained strength, recording a sharp increase in both value and network activity. According to data from the on-chain analytics platform XRPSCAN, XRP’s burn rate soared by 60.87% within the last 24 hours, signaling renewed momentum across the network. This sudden spike lifted the number of XRP tokens burned as fees from 667 to 1,073, showing an impressive resurgence in transactional activity. Consequently, the growing number of transactions and higher fees have restored optimism among traders who view the metric as a sign of network health and market strength. Also Read: U.S. Shutdown Extends Beyond a Month, Raising Fears of Economic Fallout and Crypto Uncertainty XRP Price Rebounds as Market Confidence Builds Following its dip to $2.16 during the latest correction phase, XRP quickly rebounded above $2.30, posting a daily gain of 5.24%. The sharp reversal caught market watchers’ attention as it marked a critical point in XRP’s recovery after several days of bearish pressure. The improved sentiment aligns closely with the increased burn rate, further reinforcing the idea that network activity often mirrors price movement in the XRP ecosystem. Besides, the renewed buying momentum has stirred discussions about the next potential rally, especially with speculation growing around the proposed XRP exchange-traded funds. Analysts believe that the approval of these ETFs could attract more than $1 billion in inflows, driving stronger institutional participation. Growing Speculation Around ETF Inflows and Market Expansion Moreover, experts suggest that if substantial inflows lead to the withdrawal of around 4.95 billion XRP from circulation, the asset’s market capitalization could expand dramatically. Projections indicate that XRP’s valuation might rise from approximately $150 billion to nearly $1 trillion if these conditions align favorably. Hence, the combination of rising burn rates, strengthening prices, and heightened investor anticipation has positioned XRP at a crucial point. The community now watches closely as developments surrounding ETF approval and market sentiment could determine whether this momentum turns into a longer-term rally. Also Read: Coinbase Adds BNB Chain-Based Aster Token to Listing Road Map The post XRP Burn Rate Jumps Over 60% as Network Activity Surges and Price Recovers appeared first on 36Crypto.

PANews reported on November 9th that Charles Edwards, co-founder of Capriole Investments, shared a chart on the X platform showing the on-chain selling activity of Bitcoin OG holders (those who have held Bitcoin for seven years or more). In the chart, orange represents a sell-off of $100 million, and red represents a sell-off of $500 million. Charles Edwards stated that Bitcoin OGs are cashing out, and this sell-off began in November 2024 and will intensify in 2025.