Well-known Silicon Valley investor Tim Draper is even more optimistic about Bitcoin's prospects, predicting that its value will increase 30 times. Draper expressed his firm belief in Bitcoin's dominance as a global currency in an interview in November. When the price of Bitcoin exceeded $90,000, he predicted that Bitcoin could rise 30 times to nearly $3 million. He explained: "Bitcoin will be the currency of the future. I don't know if it will be in five years, ten years or when. But one day you will be able to buy food with Bitcoin, clothes with Bitcoin, shelter with Bitcoin, pay taxes with Bitcoin." He also reflected on his predictions for Bitcoin: "My first prediction was in 2014 when Bitcoin was at $180. I said it would go to $10,000 in three years. Sure enough, by the end of 2017, Bitcoin was at $10,000. Since then, I haven't been as prescient. I thought Bitcoin would be $250,000 by 2022, and I guess I was three years late with my prediction." He attributed the delay to "a weak government stance that only regulates new technologies instead of encouraging them." Draper expressed enthusiasm for the potential impact of the incoming Trump administration on the private sector. He noted that Trump's election had a significant impact on the cryptocurrency landscape. (Bitcoin.com)

According to Odaily, Solana's co-founder, Toly, recently expressed his views on the need for a national XRP reserve. In a post on platform X, Toly highlighted the potential benefits of establishing such a reserve, suggesting that it could play a significant role in the broader financial ecosystem. Toly's statement comes amid ongoing discussions about the role of digital currencies in national economies. As cryptocurrencies continue to gain traction globally, the idea of integrating them into national reserves is becoming a topic of interest for many financial experts and policymakers. XRP, known for its fast transaction speeds and low costs, is often considered a viable option for such reserves. The proposal for a national XRP reserve reflects a growing recognition of the importance of digital assets in modern financial systems. As countries explore ways to incorporate cryptocurrencies into their economic frameworks, the conversation around national reserves is likely to intensify. Toly's comments add to the ongoing dialogue about the future of digital currencies and their potential impact on global finance.

Bitwise CEO Hunter Horsley wrote on X: "Now is the time to cultivate an abundance mindset in the cryptocurrency field. The bear market breeds zero-sum thinking, where one party profits by taking a share from others as the pie shrinks. But as of November this year, the total market value of cryptocurrencies has now exceeded the previous high of $3 trillion in November 2021. The market is entering a period where the pie is getting bigger and bigger, and it's time to change your mindset. The winning mentality at this stage is to encourage maximizing the pie, increasing the number of participants, treating participants well, and supporting the team to maximize their potential and advantages. If all this happens, you'll do well. I'm excited about the return to growth and abundance."

Solana co-founder Toly said in a post on X: “We need a national XRP reserve.”

Infinite Market Cap data shows that XRP's market value surpasses TotalEnergies, and its ranking among global assets has risen by 39 places, currently ranking 144th. Data shows that the current XRP market value is 131.46 billion US dollars, with a 24-hour increase of 19.12% and a weekly increase of 62.37%; TotalEnergies' market value is 131.29 billion US dollars.

According to BlockBeats, recent data from TradingView indicates a decline in Bitcoin's market dominance, which has fallen to 56.75%. This marks a decrease of 8.15% from its peak during the current bull market on November 21, when it stood at 61.78%. In addition, since November 5, the total market capitalization of cryptocurrencies excluding Bitcoin (TOTAL2) has experienced a significant upward trend. After reaching a low of $856.1 billion on November 5, the market has surged approximately 70%, currently standing at $1.46 trillion. This increase highlights the growing interest and investment in alternative cryptocurrencies as the market continues to evolve.

According to Odaily, leading Bitcoin mining company MARA's mining pool, known as MARA Pool, achieved a significant milestone in November by mining 820 BTC, marking the highest output since January. Network data reveals that during November (UTC time), MARA Pool successfully mined 254 Bitcoin blocks, earning 793.7 BTC from block subsidies and an additional 26.7 BTC from transaction fees. This notable increase in monthly production is partly attributed to reduced operational uptime earlier this year. In November, the average hash rate of the Bitcoin network was recorded at 731 EH/s. MARA Pool's block production suggests an actual hash rate of 42.7 EH/s, indicating that the company installed additional mining machines during the month. This development is significant as MARA had reported an operational capacity of 40.2 EH/s at the end of October, highlighting the expansion of their mining capabilities.

Coinglass data shows that the open interest of XRP futures contracts across the network is 1.739 billion ETH, equivalent to US$4.051 billion, a record high, with a 24-hour increase of 20.34%. Among them, the open interest of Bybit XRP contracts is 548 million XRP (approximately US$1.277 billion), ranking first, with a 24-hour increase of 19.13%.

According to PANews, Japanese cryptocurrency exchange DMM Bitcoin is set to shut down its operations and sell its assets to a subsidiary of the SBI Group. This decision marks a significant shift in the Japanese cryptocurrency market, as DMM Bitcoin has been a notable player in the industry. The move comes amid increasing regulatory scrutiny and evolving market dynamics in the cryptocurrency sector. The acquisition by the SBI Group subsidiary is expected to consolidate its position in the market, leveraging DMM Bitcoin's existing infrastructure and customer base. This strategic move aligns with SBI Group's broader ambitions to expand its footprint in the digital asset space. The transition is anticipated to be seamless for existing DMM Bitcoin users, as the SBI subsidiary plans to integrate the platform's services into its operations. This development highlights the ongoing consolidation trend within the cryptocurrency industry, as larger financial institutions seek to strengthen their presence by acquiring established platforms. The closure of DMM Bitcoin underscores the challenges faced by smaller exchanges in navigating the complex regulatory landscape and maintaining competitive advantage in a rapidly evolving market.

Catch up on this week’s biggest crypto and NFT gaming news and find some weekend reads in our latest roundup. source: https://decrypt.co/294068/this-week-crypto-games-axie-infinity-layoffs-w-coin

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