Detroit will become the largest city in the U.S. to start accepting cryptocurrencies for tax and fee payments. This option will be available in mid-2025, implemented through a platform by PayPal.

Notably, residents in three states — Colorado, Utah, and Louisiana — already have the option to make government payments in cryptocurrency.

As of November 12, 2024, Bitcoin (BTC) has appreciated by over 111% year-to-date, while MicroStrategy's (MSTR) stock has surged by approximately 438% in the same period.

Tonhub Launches Visa Debit Card for Its Users

Tonhub, a non-custodial wallet for storing and using the TON cryptocurrency, continues to expand the possibilities of Web3!

Users can now apply for a Visa card directly within the app, linked to their TON or USDt balance, and make payments seamlessly via Apple Pay and Google Pay.

At Tonhub, your account isn't just a bank record but a smart contract connected to your wallet on the TON blockchain. You own your funds and manage them directly, elevating your crypto wallet to the level of a neobank.

Key Benefits of the New Card from @tonhub:

▪️ Registration in just a few minutes — quick KYC procedure.
▪️ Minimal fees — only 1.5% per transaction.
▪️ Global payments — all the advantages of a fiat debit card (including SEPA and SWIFT transfers).
The project was realized in collaboration with the Holders platform, specializing in issuing non-custodial cards.

Currently, the service is available only to users with a European ID.

By 2025, there are plans to expand card availability to users in CIS countries, Latin America, and the Middle East, as well as integrate the service with wallets like TrustWallet, TonKeeper, and MyTonWallet.

Try out Tonhub and discover the possibilities of Web3 payments.

⚡️ Coin of the Day by Market Sentiment -
Hyper GPT $HGPT

$HGPT

Crypto Exchange Upbit May Face Fines Worth Billions of Dollars

On November 14, South Korea's regulatory authority conducted an on-site inspection of the exchange, required for the renewal of Upbit's license. During the inspection, it was discovered that between 500,000 and 600,000 instances involved unreadable documents provided by users for verification on the platform. This indicates that the exchange failed to ensure its active clients provided their real names.

Under local laws, a fine of up to 100 million Korean won ($71,700) can be imposed for each violation of customer identification obligations. Considering the potential 600,000 violations, Upbit could face fines amounting to $43 billion.

All identified violations will now undergo a thorough review, and the financial regulator's subsequent conclusions may impact not only the final amount of the fines but also Upbit's ability to continue its business operations.

BTC reserves on centralized exchanges continue to decline and are now at their lowest levels since November 2018, according to CryptoQuant data.

CryptoQuant: Retail investors are returning to the crypto market! BTC transactions of $100k or more have hit a 3-year high!

More than 60 publicly traded companies have already adopted a Bitcoin strategy — and the number of such small private companies is estimated to be in the thousands.

Today, the Bitcoin Industrial Complex broke its record, reaching a volume of $50 billion (for context, this is equivalent to the ADV of the entire UK stock market).

$MSTR alone accounted for $32 billion.

$MSTU and $MSTX combined reached $6 billion (which is more than all spot BTC ETFs that also saw an increase).

Trump's Company May Launch a Cryptocurrency Payment Service

Donald Trump's Trump Media & Technology Group has filed a trademark application for a service called TruthFi, which it describes as "a platform for cryptocurrency payments, financial custodial services, and digital asset trading." Trump Media also owns Trump's social network, Truth Social.

On Monday, the Financial Times reported that Trump Media is in talks to acquire the cryptocurrency platform Bakkt, which offers services for digital asset trading.

As of now, neither company has made any public statements.

According to the NUPL sentiment indicator, long-term BTC holders are starting to show signs of growing greed! Historically, such behavior suggests that BTC may need another 8–11 months to reach its peak. If the trend continues, the potential BTC peak could occur between June and September 2025, experts say.

CryptoQuant: Retail investors in #Bitcoin are not experiencing FOMO yet.

In 2013, Pantera Capital CEO Dan Morehead wrote a letter that became a symbol of confidence in Bitcoin (BTC) despite its volatility.

On May 28, 2013, $20 million could buy 156,000 BTC, but by July 5 of the same year, the same amount could purchase 308,000 BTC due to a price drop. At that time, Morehead stated:

"I plan to buy 30,000 BTC at the current price of $65 per coin this weekend."

Pantera Capital later earned over 1,000x returns on its early Bitcoin investments. However, even successful investors like Morehead didn’t hold onto the full amount until Bitcoin’s peak values. Had he kept all his BTC, his net worth would have exceeded $27 billion. However, most of the portfolio was sold off a few years later, and as of 2023, Morehead's personal wealth is estimated to be less than $1 billion.

Volatility proved to be a challenging test, even for professionals.

The combined market capitalization of public Bitcoin mining companies has surpassed $40 billion, nearly doubling since April 2024. However, despite the more than twofold increase in the price of the leading cryptocurrency this year, the overall revenue of miners is at the same level as in May 2024 (or December 2023), which could pose a problem in the future.

The April halving halved the rate of new Bitcoin creation, significantly reducing miners' revenue. The situation is further complicated by the fact that the total computational power used in Bitcoin mining has risen to 762 EH/s (exahashes per second), making it even harder to mine Bitcoin while overall revenue has already decreased.

Of the 25 public mining company stocks, only 10 have shown positive growth since the beginning of the year. According to Hashrateindex, which tracks miner stocks, the prices of 15 companies have fallen, with declines ranging from 7% to 72%. Seven companies have managed to show an increase in stock value, from 16% to 56%. Only three companies have shown more significant price growth: Iris Energy +82%, Hut 8 Mining +125%, and TeraWulf +216%.

XRP from Ripple continues to rise. The token has gained nearly 40% in 24 hours and is trading above $2.6 — the highest level since 2018. Over the past month, XRP has increased in price fivefold.

According to Coinglass, the short liquidation volume for XRP exceeded $50 million over the past 24 hours.

The U.S. is experiencing a real memecoin frenzy

1️⃣ Fox Business invited a crypto influencer who talked on air about joke cryptocurrencies as investment tools.

2️⃣ But the most intriguing part — American congressmen are now joining the game. Recently, it was revealed that Congressman Mike Collins invested around $30,000 in 2 memecoins.

Welcome to a reality where memecoins are a genuine financial trend.

The US Treasury released a report on crypto:

It highlights the significant growth of the cryptocurrency sector as a whole.
So far, crypto adoption among consumers is limited to "investment purposes".
Blockchain technology is gradually being integrated into the financial system.
The primary use case for BTC is "store of value," similar to gold.

DOGE is in an active "to the moon" phase with a final target of $18 in this cycle, according to technical analysis experts.

Cryptorank: recently announced airdrops.

As the statistics show, you need to buy Bitcoin 500 days before the halving, hold it, do nothing, and then sell it 500 days after the halving.