Kraken Secures Significant Funding for Global Expansion
Crypto exchange Kraken has revealed its valuation has reached $20 billion following an $800 million funding round aimed at supporting the exchange’s global expansion initiatives. The funding rounds have bolstered Kraken's position in the competitive cryptocurrency market.
In addition to securing substantial capital, Kraken announced an $200 million investment from Citadel Securities. The US market-making firm will also provide Kraken with valuable expertise on critical areas such as risk management, liquidity provision, and market structure insights. This strategic partnership is expected to enhance Kraken's operational capabilities and resilience.
Other notable backers in the funding rounds included DRW Venture Capital and Jane Street, further underscoring the confidence investors have in Kraken's growth strategy.
While Kraken already operates in numerous countries, the exchange's primary objective with this funding is to expand its presence significantly into the Asia Pacific, Latin America, Europe, and the Middle East regions.
Market Sentiment Boosted by Bitcoin's Recovery
The cryptocurrency market experienced a bullish sentiment this week, largely driven by Bitcoin's recovery to $92,000 after a dip towards $89,000 the previous day. This upward movement has reignited optimism among investors.
Altcoins, including Ethereum, also followed Bitcoin's upward trajectory, contributing to a renewed appetite for crypto assets within the community.
Key Crypto Updates and Price Predictions
DeepSnitch AI: Utility-Centric AI Presale Surpasses $555K
DeepSnitch AI, a prominent AI project in the presale space, has successfully raised over $555,000 amidst a generally fearful market. This achievement highlights the growing interest in AI-driven cryptocurrency solutions.
The project aims to empower retail traders by providing actionable analytics and accurate predictions. DeepSnitch AI achieves this by integrating five autonomous AI agents into a single intelligence layer. This system is designed to accurately predict sentiment shifts, track whale movements, identify FUD storms, and deliver the latest alpha news.
Each AI agent within the DeepSnitch AI suite has a distinct role, allowing users to evaluate tokens for rug pull risks or assess their upside potential. The project's utility extends to users from various market niches, including the memecoin market.
Analysts and traders are predicting a potential 100x surge for the DSNT token after its launch, citing the broad growth potential of AI coins. An investment of $200 at the current entry price of $0.02381 could potentially yield an ROI of $20,000 if the 100x prediction materializes.
Dogecoin Price Prediction: Can DOGE Regain its September Peak?
As of November 18, Dogecoin was trading around the $0.1550 level, showing a slight 1% increase over the past 24 hours. Despite this modest recovery, speculative assets have experienced dampened performance this month, which has impacted Dogecoin's momentum.
For Dogecoin to initiate a full breakout, it must overcome the 20-day Exponential Moving Average (EMA) at $0.17. The immediate target following this resistance is $0.19. Projections suggest that by the end of the year, particularly if news emerges about Dogecoin ETFs, the price could surge towards $0.29. However, failure to move above $0.17 could lead to a price decline back to $0.14.
Uniswap Price Prediction: Will UNI Extend its Bullish Momentum?
Uniswap (UNI) experienced a significant pump towards the $7.7 area on November 18, followed by a correction to approximately $7.2. Despite this dip, UNI is expected to recover swiftly.
Recent price predictions indicate that UNI could climb towards $6.9, a pivotal demand zone that might trigger another rally towards the key resistance level of $8.1. Closing above $8.6 could further extend the upward momentum, potentially reaching $10.3. Some analysts believe that an anticipated Christmas rally, coupled with favorable macroeconomic factors and positive crypto news, could push UNI to $20.
Market Outlook and Investment Opportunities
If the market continues on its current trajectory, a full recovery may be possible later in November. Both UNI and DOGE are expected to conclude the year on a strong note. However, their potential upside is considered significantly less than that of DeepSnitch AI, which has the potential for substantial 100x gains, a feat rarely achievable with major cryptocurrencies without substantial investment.
With strong fundamentals and consistent presale performance, DeepSnitch AI is positioned as a potential breakout cryptocurrency. Participating in the DeepSnitch AI presale is presented as an opportunity to end November positively.
Frequently Asked Questions
What is the biggest crypto news this week?
Kraken's valuation reaching $20 billion and Bitcoin's rebound to $92,000 were the dominant headlines on November 18. Additionally, DeepSnitch AI's presale surpassing $555,000 has garnered significant attention due to its projected 100x potential.
Why is Kraken suddenly worth $20B?
Kraken achieved this valuation after securing $800 million across two funding rounds, which included a $200 million investment from Citadel Securities. This capital infusion is intended to fuel global expansion into regions like APAC, LATAM, Europe, and the Middle East.
Why is DeepSnitch AI trending in the latest crypto news?
DeepSnitch AI has trended due to its successful presale, raising over $553,000 despite market uncertainty. Its advanced five-agent AI analytics system is designed to identify market sentiment shifts, track large holder activity, detect FUD storms, and assess rug-pull risks, offering valuable insights to traders.