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On Thursday, Grayscale saw massive outflows of $598.9 million. Market watchers have anticipated the $10 billion milestone for quite some time for BlackRock. The spot Bitcoin ETF market was boosted as of February 29th’s trading closure by the enormous inflows recorded by the offering associated with the top investment asset management company, BlackRock, iShares Bitcoin Trust (IBIT). On Thursday, Grayscale saw massive outflows of $598.9 million, which, if not mitigated, would have caused a major fall in the spot Bitcoin ETF market. In contrast, BlackRock’s IBIT saw inflows of $604 million, more than offsetting the effects of GBTC’s precipitous decline. Moreover, all of the spot Bitcoin ETFs saw very little total net inflows. All things considered, the net inflows reached around $92 million. It is worth mentioning that Grayscale saw its second-largest GBTC outflow on Thursday, after the approval of its Bitcoin ETF by the U.S SEC and those of other issuers. Massive Milestone in Short Time Genesis is said to have sold off $1.3 billion worth of GBTC after gaining court approval, which may have contributed to the outflow. Inflows like the one for BlackRock show that institutional investors are still keen on getting a piece of the Bitcoin action, regardless of sentiment. The market leader’s AUM has crossed $10 billion in the very short time. Market watchers have anticipated the $10 billion milestone for quite some time, particularly when taking into account the inflows that BlackRock witnesses every day. The price of bitcoin has been surging ahead of the highly anticipated halving event in April. At the time of writing, Bitcoin was trading at $61,301, up 20.94% in the last 7 days as per CoinMarketCap. Several analysts are confident that the price will cross the all-time high of $69,000 in upcoming weeks. Highlighted Crypto News Today: Nigerian Government Slaps $10 Billion Fine on Binance
Historical data suggests that no Bitcoin cycle has peaked without experiencing significant double-digit corrections. These downturns, while daunting, have historically presented lucrative ‘buy-the-dip’ opportunities for investors. As Bitcoin continues its ascent, with its price hovering above $62,000, the anticipation of a potential correction looms large, offering a window into the cyclical nature of cryptocurrency markets. Market Maturity And Correction Patterns Seasoned investor CryptoJelleNL recently shared a post on X earlier today pointing towards an imminent correction in the 20-25% range for Bitcoin. Based on cycle analysis, this predicted dip indicates a potential drop to the $46,500 range, earmarking an opportunity for investors to bolster their positions in the leading crypto. This perspective gains further credence when examining the diminishing severity of corrections as the market matures; the 2016-2017 Bitcoin cycle was characterized by seven substantial corrections, with an average pullback of 32%, significantly impacting investor sentiment and portfolio values. In the subsequent cycle that propelled BTC to its current all-time high of $69,000, the market conditions were considerably more lenient for bullish investors: experiencing five downturns, the average decline was limited to 24%. Fast forward to the present cycle, and the landscape appears somewhat different. With only four notable corrections recorded so far and an average pullback of 21%, Bitcoin should see a notable pullback, though not as harsh as previous ones. This indicates the market’s growing maturity. Additionally, this evolution suggests that while corrections remain a staple of the Bitcoin experience, their capacity to deter the asset’s long-term trajectory diminishes. Navigating Bitcoin Upcoming Corrections The potential correction for Bitcoin, as indicated by CryptoJelleNL is echoed by other market observers. Galaxy Digital Holdings CEO Michael Novogratz has also highlighted the possibility of a temporary dip, attributing it to factors such as excessive leverage among younger investors. Despite these forecasts, Bitcoin’s current momentum remains strong, with recent price action showing a near 2% increase in the past 24 hours, underscoring the asset’s sturdy appeal. In addition to speculative analysis, real-world examples of investor success stories provide tangible evidence of Bitcoin’s enduring allure. A notable instance is a smart whale who, per lookonchain analytics, invested $1.39 billion in Bitcoin in July 2022 at an average price of $21,629 per BTC. With BTC price now surging past the $62,000 mark, this investor’s unrealized profit is a testament to the strategic potential of timely market entry and the value of patience in the face of volatility. Featured image from Unpslah, Chart from TradingView
BlackRock, the world’s largest asset manager, announced the iShares Bitcoin Trust ETF (IBIT39) launch in Brazil on Thursday. Starting today, Friday, March 1, shares of this index fund, which tracks the spot price of Bitcoin (BTC), will be traded on the Brazilian Commodities and Futures Exchange, known as B3. BlackRock Launches IBIT39 Bitcoin ETF In Brazil Karina Saade, president of BlackRock in Brazil, highlighted the company’s commitment to providing high-quality access vehicles to investors in the digital asset market. She stated: Felipe Gonçalves, Superintendent of Interest and Currency Products at B3 discussed the growth of the listed crypto market in Brazil. He noted that the market, which started in 2021, now has 13 ETFs with total assets of R$2.5 billion, or about $505 million. While the market experienced fluctuations in its early years, it reached an eye-catching daily trading volume of R$30 million reais ($6.6 million) by the end of last year, according to local media reports in Brazil. Gonçalves mentioned that investors in crypto ETFs include institutional investors, such as funds, and individual investors, with a current number of 170,000. Liquidity in the market is provided by non-residents investing in B3 as a whole. IBIT39 will reportedly have a management fee of 0.25%, with a one-year waiver that reduces the fee to 0.12% once the fund reaches its first $5 billion in assets under management (AUM). The product will be made available to the general public, allowing broader participation in the Bitcoin market. $7.5B Net Inflow In Bitcoin ETFs Since Launch In The US BlackRock’s IBIT (iShares Bitcoin Trust) ETF has emerged as a notable player in the US ETF race, countering a significant outflow from Grayscale’s Bitcoin Trust (GBTC). BitMEX research data shows that on February 29, 2024, positive flows amounted to $92 million for the day. Notably, BlackRock and GBTC offset each other, experiencing $600 million in opposite directions. The data shows that since the ETFs began trading on January 11, 2024, there has been an impressive net inflow of $7.5 billion. The overall holdings of spot funds, which directly hold Bitcoin, stood at 776,464 BTC (equivalent to $47.7 billion) on Friday morning, according to BitMEX Research. It’s essential to consider that the total BTC supply currently in circulation is 19.64 million, with a maximum limit of 21 million. With this context, the fact that the ETFs have secured 4% of the total BTC supply is a significant milestone. It demonstrates the growing demand for Bitcoin among investors utilizing these index funds to gain exposure to the cryptocurrency. BTC continues to consolidate above the $62,000 mark, rising 1.3% in the past 24 hours. Featured image from Shutterstock, chart from
As Bitcoin (BTC) is currently in a bull run, eclipsing the $60,000 mark once again, the spotlight has turned to ADA performance in comparison. With a history that mirrors Ethereum’s (ETH) early days, ADA’s journey through the market’s ups and downs has prompted a closer examination of its potential trajectory. The eighth-largest cryptocurrency by market cap, ADA has seen its fair share of highs and lows, with a recent uptick in price sparking both interest and speculation about its future. Particularly, Cardano’s current trading level, lingering below the highs of the March-April 2021 bull run, has raised eyebrows, especially when juxtaposed with Bitcoin’s bullish momentum. During the last peak period when BTC hit $60,000, ADA traded above $1. Yet, as Bitcoin revisits its former glory, ADA’s valuation stands around $0.6, presenting a curious case for analysis. Dan Gambardello, a crypto analyst have drawn parallels between ADA’s price action and Ethereum’s historical performance, suggesting that ADA may be on the cusp of a “significant breakout”, akin to ETH’s journey post-2017. ADA Historical Echoes With Ethereum Dan Gambardello’s comparison of ADA to Ethereum’s past trajectory sheds light on the developmental parallels and market behavior between the two cryptocurrencies. Gambardello points out that ADA’s entry into the market towards the tail end of the 2017 bull run placed it in a different starting position than ETH. Despite this, both currencies achieved notable highs during that period. The subsequent bear market phases for both ADA and ETH were marked by substantial corrections and periods of foundational development, crucial for their long-term viability, according to Gambardello. The analyst added that the emergence of Decentralized Finance (DeFi) projects on both platforms, with Uniswap for ETH and SundaeSwap for ADA, underscores the parallel paths of “innovation and growth.” This historical perspective suggests that ADA’s current position and 78% dip from its peak might not be as dire as it appears. Instead, it could indicate a maturing phase that precedes significant growth, much like Ethereum experienced after its initial setbacks. The comparison offers a hopeful outlook for ADA, positioning it as a digital asset with the potential to recover and surpass its previous highs as it follows in Ethereum’s footsteps. Cardano’s Potential Unfolding Crypto analysts Trend Rider and Ali’s recent analysis has also amplified the optimism surrounding Cardano’s future. Trend Rider’s alert on a potential new all-time high for ADA, backed by a significant increase in the Trend Strength Indicator, echoes the sentiment of a pending rally reminiscent of ADA’s climb to $3.6. Furthermore, Ali’s projection of ADA hitting $8 in the upcoming bull run, based on a breakout pattern in the weekly price charts, adds to the growing consensus of Cardano’s untapped potential. Featured image from Unpslah, Chart from TradingView
Cardano (ADA) is currently riding on the back of a 14% gain in the past seven days, allowing the cryptocurrency to break past the $0.70 price level for the first time since May 2022. According to crypto exchange Changelly, Cardano is poised to continue on this price growth and break over $1, $10, and $100 in the coming years and decades. Changelly Predicts Exponential Cardano Price Growth Cardano is one of the biggest cryptocurrencies by market cap with a cap of over $23.5 billion. Although ADA has since retraced some of its gains earlier in the week and is now trading below $0.77, it ended February with a 35% gain amidst a wider inflow of money into the crypto market. Current fundamentals have prompted experts to forecast a continued price surge in March. According to Changelly’s prediction, ADA will continue on this price growth to make a steadfast breakout above $0.70 and end the month at a maximum of $0.751. Notably, analysts at the exchange also looked at future price points for ADA, predicting very bullish prices. In its prediction, the exchange noted ADA would break over $10 in 2030. With the cryptocurrency now trading at $0.66, this would mean a 1,400% growth from the current price level. Looking further into the future, Changelly expects this price growth to continue into the next decade, allowing ADA to eventually break over $165 by 2040 and end the year around $600. How Feasible Is This Bullish Prediction? Cardano has had its fair share of ups and downs in the past few years. Recently, the blockchain network saw a 90% jump in the creation of new wallet addresses, indicating increased network activity and interest in the network. However, the blockchain has also been subjected to negative remarks, with multiple reports hinting that Cardano’s network activity has been nothing but fabrications. Particularly, a recent report termed ADA as a dead coin. Despite this, some holders and experts remain optimistic. For ADA to cross over $10 and $100 per coin, mainstream adoption needs to happen. As the crypto industry, which is spearheaded by Bitcoin, becomes more mainstream, Cardano is poised to benefit from greater adoption. While $165 per ADA sounds overly optimistic now, if Cardano can achieve its ambitious goals, gain mainstream interest and adoption, and attract institutional investment from traditional investors, that price target may not be so unrealistic after all. At the same time, this isn’t impossible, as ADA has delivered over 3,000% profit for its holders in the past.
The demand for spot Bitcoin exchange-traded funds (ETFs) has surged since their recent approval on January 10, with BlackRock’s IBIT Bitcoin ETF leading the way. This ETF has reached impressive milestones in less than two months, attracting significant investor interest and opening doors for various market participants to invest in the largest cryptocurrency directly. As institutional and retail investors flock to these new investment vehicles, market experts predict a bullish trend and anticipate a potential price surge. Bitcoin ETF Frenzy According to Bloomberg ETF expert Eric Balchunas, BlackRock’s IBIT Bitcoin ETF has quickly joined the esteemed “$10 billion club,” reaching the milestone faster than any other ETF, including Grayscale’s Bitcoin Trust (GBTC), noting that only 152 ETFs out of 3,400 have crossed the threshold. Balchunas notes that IBIT’s ascent to this club was primarily driven by significant inflows, which accounted for 78% of its assets under management (AUM). This reflects the growing appetite for Bitcoin exposure among investors seeking diversified and regulated investment options. In particular, the current trajectory of the ETF market paints a picture of resilience and bullish sentiment in the market. Equity ETF flows, and leveraged trading levels are positive indicators, although they have not yet reached the euphoria seen in 2021, Balchunas notes. However, Bloomberg’s new BI ETF Greed/Fear Indicator, which incorporates various inputs, highlights the optimistic outlook shared by ETF investors, as seen in the chart below. On this matter, crypto analyst “On-Chain College” went to social media X (formerly Twitter) to emphasize the significant demand for Bitcoin as evidenced by its rapid departure from exchanges. In its analysis, On-Chain College highlights that Bitcoin ETFs buy approximately ten times the daily amount of BTC mined. At the same time, the upcoming halving event will further reduce the mining supply. The analyst predicts when demand will exceed available supply, leading to potential upward price pressure. Highest Monthly Close Since 2021 Bitcoin’s recent market performance has caught the attention of wealth manager Caleb Franzen, who highlights the significance of the highest monthly close since October 2021. Franzen further emphasizes the bullish momentum by pointing out that the 36-month Williams%R Oscillator has closed above the overbought level for only the fourth time in history. Historical data reveals impressive returns following such signals, indicating the potential for substantial gains in the coming months. Additionally, Franzen notes the changing dynamics of the market, with increased institutional participation and the ease of retail onboarding through ETFs. Franzen presents a compelling case for the bullish nature of overbought signals, urging market participants to view them as momentum indicators rather than signals to fade. Previous instances of overbought signals have resulted in significant Bitcoin price appreciation: February 2013: +3,900% in 9 months December 2016: +1,900% in 12 months November 2020: +260% in 12 months While acknowledging diminishing returns in each cycle, Franzen highlights the unprecedented level of institutional participation and the ease of retail access through ETFs. Even if Bitcoin were to match the +260% gain from the November 2020 signal, it would reach a price of $180,000, surpassing Franzen’s minimum cycle target of $175,000. Ultimately, Franzen notes that bull markets are typically characterized by a rising ETHBTC ratio and a falling BTC.D (Bitcoin dominance). While these characteristics have yet to manifest fully, Franzen suggests that a multi-quarter rally in the broader cryptocurrency market may be on the horizon. Featured image from Shutterstock, chart from
Oliver Michel, founder and CEO of German-based venture capitalist firm Tokentus Investment AG, has given a bullish price prediction for the XRP price. According to him, XRP could hit $10 soon enough. XRP Price To $10 Is Just The Beginning Michel mentioned during an interview with Der Aktionär, a leading German finance magazine, that he expects XRP to rise to between $5 and $10 in the first wave of its parabolic move to the upside. Interestingly, he added that XRP would eventually hit three to four figures and didn’t seem worried about XRP’s current price action. Meanwhile, Michel revealed that he is invested in the XRP tokens as he has them both in his family office and with his company, Tokentus. The same applies to Ripple shares, which he stated he purchased through an SPV (Special Purpose Vehicle). Michel is no stranger to the XRP ecosystem, considering that his company partnered with Ripple last year in an effort to grow and increase the adoption of the XRP Ledger (XRPL). During the interview, Michel also offered his thoughts on Ripple as a “professional company” and sounded so bullish on what the crypto firm was building with its Payment service. He used the opportunity to elaborate further on how Ripple was simplifying cross-border transactions with the help of the XRPL and XRP tokens. Ripple is known to settle these transactions through its blockchain, with XRP serving as the utility token, and these XRP tokens are then converted to the fiat currency of the recipient’s choice. XRP To Become The “World Reserve Bridge Currency” Michel stated that XRP could become the “world reserve bridge currency” once countries implement their CBDCs (Central Bank Digital Currency). Ripple’s XRPL is already being touted as the go-to chain for CBDC settlements. The crypto firm had also revealed that they were already actively working with more than 20 Central banks on CBDC initiatives. The Tokentus founder also believes it won’t be long before other Central banks fall back on Ripple to help them implement their CBDCs. He noted that the pressure was piling up on these banks to act now to avoid an impending economic collapse. XRP is expected to play an integral role when this all happens. Ripple’s XRPL also looks set to act as the intermediary between all these CBDCs when the time comes. Bitcoinist once reported how the network’s clawback feature boosts the prospects of CBDCs being implemented on it. At the time of writing, XRP is trading at around $0.58, down over 1% in the last 24 hours, according to data from CoinMarketCap.
The crypto market has shown an incredible performance over the past week. Bitcoin has sustained momentum and risen above the $60,000 level, reaching $64,000. The levels reached at the end of February have suggested to many investors that March could be an even more impressive month for the current bullish rally. However, no prediction is set in stone, as many factors could swing investors’ sentiments and move the trends in the opposite direction. At the moment, the crypto market seems to have taken a small pause to catch its breath. Crypto Market Momentarily Slows Down The global crypto market reached a significant milestone for this bullish run a few days ago. As reported, the total crypto market cap hit $2T on February 27, an accomplishment not seen since April 2022. As March begins, the market cap for the crypto market sits at $2.3 trillion, representing a 17.97% surge in the 7-day timeframe. This growth has surpassed the level established in early 2022 and potentially clears the path to the $2.4 trillion mark seen in December 2021. Nonetheless, the market rise seemingly slowed down momentarily. The current market cap of $2.31 trillion represents a modest 1.32% decrease over the last day, according to CoinMarketCap data. Similarly, the total crypto market trading volume was around $127.9 billion at writing time, registering a significant 35.77% drop from yesterday. The data shows that Bitcoin and Ether have faced over 40% market activity decrease compared to the trading volume registered 24 hours ago. Similarly, some of the largest memecoins showed a slowdown in performance. As the list below shows, Dogecoin (DOGE) registered a 5.9% price drop on the last day. Likewise, Shiba Inu’s (SHIB) price decreased by 5.8% in the same timeframe. On the contrary, Solana (SOL) performed better on the last day than the top ten cryptocurrencies, registering a 4.1% price surge. SOL’s $134 price places it alongside DOGE as the best-performing cryptocurrencies among the top ten in the last seven. Among the largest gainers on the last day, PEPE reversed yesterday’s 12% price drop after registering a 10.9% growth during the past 24 hours. Similarly, the dog-themed memecoins dogwifhat (WIF) and (BONK) registered a price increase of 20,66% and 6.65%, respectively. Bitcoin And Ether Remain Strong Amid The Market Volatility Some analysts expect a significant halving-related drop in Bitcoin’s price. Meanwhile, the King of crypto has shown strong resistance above a massive support wall, as crypto analyst Ali Martinez suggests. Over 1 million addresses are buying over 671,000 BTC within the $60,000 and $62,000 price range. Which, according to the analyst, highlights a strong investor confidence. This confidence could be a crucial support level and a cushion against a future price drop. At writing time, the flagship cryptocurrency trades at around $62,052.71, which only accounts for a 1% decrease from the day before. BTC has increased over 21.8% in the last week, and it’s only 10.34% lower than its all-time high (ATH) of $69,000 registered in November 2021. Likewise, it’s worth noting that Ether (ETH) has been showing a robust performance in the past few days amid the volatile crypto market. Maintaining its price range in the past 24 hours, the ‘king of altcoins’ registered only a 1.8% price decrease from yesterday. ETH currently trades at $3,411.88, representing a notable 16.2% rise in the past week.
Crypto platforms like Solana or Tron have always attracted developers for their ability to enable the building of decentralized applications. Being top scalable platforms, while many blockchain technologies haven’t been able to address the issue of scalability, SOL and TRX are among the networks that will make more progress in the next month. On the other hand, the altcoin space has been on a development spree in recent years, as revolutionary projects like BlockDAG are causing awe with amazingly successful presales and disruptive identities, inviting the attention of investors and miners. Pushd Presale Invites Investors’ Interest In recent months, Pushd has achieved significant milestones and drawn a remarkable level of investment to its presale. As a fully decentralized e-commerce platform, Pushd simplifies transactions for investors, allowing them to bypass the KYC requirements that platforms like Amazon or Ebay enforce. With these advantages, Pushd is poised to become a leading altcoin for investors starting in March and throughout the year. Is Solana Poised for a Breakthrough? Solana, a prominent name since the early days of the cryptocurrency industry, has yet to reach its peak performance in recent years. Despite its reputation for high-speed, secure, and scalable transactions—capable of processing 40,000 transactions per second at minimal costs—Solana now faces the challenge of maximizing its value. With indicators suggesting a potential surge to $150 by March, the question remains whether this advanced network can achieve its full potential within the year. BlockDAG: The Altcoin Sensation The crypto community is always on the lookout for the next lucrative investment opportunity. Enter BlockDAG, the latest altcoin sensation that promises a new era of mining and investment strategies. By offering Dedicated Miner Units, Trade Miners, the convenience of mobile mining, and a strategic approach to coin investment, BlockDAG appeals to a wide range of investors. This approach not only solidifies its market presence but also opens avenues for generating passive income through user-friendly mining experiences via the BlockDAG x1 mobile app and the X-Series mining devices for home use. This innovative network merges the Proof-of-Work (PoW) consensus mechanism with Directed Acyclic Graph (DAG) technology, prioritizing both security and innovation. As a result, BDAG appeals to miners and investors alike, advocating for a secure and decentralized cryptocurrency ecosystem. With the presale now in its second batch and $2 million already raised in a matter of weeks, BDAG’s ambition to secure $600 million by year-end is deemed achievable by experts, given its current growth trajectory. $2 Million Giveaway to Celebrate Community Support To express gratitude for the swift and widespread support from its community, BDAG has unveiled a $2 million mega giveaway for 50 fortunate community members. Participants are encouraged to engage with BlockDAG’s social media platforms, submit their wallet addresses, and complete various quests to enhance their chances of winning. Inviting friends to join offers additional entries, further enriching the community’s engagement with the brand. Website Presale Telegram Discord Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
In recent months, the government’s position on the exchange has been rather clear. The government had already arrested officials from Binance. Binance, a cryptocurrency exchange, has been fined $10 billion by the Nigerian government for making money via “illegal transactions,” according to Bayo Onanuga, a special advisor to President Bola Tinubu. In a Friday interview with the BBC, Onanuga revealed the monetary fine. In recent months, the government’s position on the exchange has been rather clear. In fact, just this week, the government intended to come down heavily on unpaid taxes from unregistered exchanges, and it had already arrested officials from Binance. Ongoing Crisis Binance has had a rough few months. A lengthy U.S probe led to heavy penalties and a leadership transition at Binance after years of scrutiny. A different nation has levied a hefty financial fine on it now. In an interview with the BBC, the special assistant to President Tinubu said that Binance had been fined $10 billion by the Nigerian government. The nation is calling out the exchange, saying that it made money off of “illegal transactions.” Onanuga stated: Since the Naira’s depreciation versus the US dollar has reached new lows, Nigeria is now experiencing a currency crisis. Even before his interview with the BBC, Onanuga had been demanding that Binance explain his views on the cryptocurrency exchange’s impact on the Nigerian economy. Highlighted Crypto News Today: Bybit’s Monthly Fiat Cashback Splash: Rewards for Both New and Seasoned Users
The TEAMZ Web3/AI Summit is scheduled to be held over two days from April 13th to 14th, 2024, at Toranomon Hills in Tokyo, Japan. The summit will attract over 5,000 participants from Japan and the international Web3 industry to discuss the construction and development of the Web3 ecosystem. Summary of the 2024 Japanese Web3 Market Features/Key Points In 2024, the Japanese market will introduce an official stablecoin The key word for the Japanese Web3 market in 2024 is “stablecoin”. The Japanese government’s Financial Services Agency (FSA) is preparing to approve an official Japanese stablecoin. Currently, several Japanese banks and technology giants, including Circle+SBI, GMO Trust, Mitsubishi Bank+Progmat+Ginco, are positioning themselves in the Japanese stablecoin market. With the introduction of the official Japanese stablecoin, this significant move not only solves the conversion issue between domestic fiat currency and digital cryptocurrencies but also greatly enhances the depth of cooperation between the Japanese Web3 industry and the international Web3 market. Changes in the tax system for corporations and individuals holding digital cryptocurrencies To prevent the outflow of excellent Japanese Web3 entrepreneurs and businesses, and to attract outstanding global Web3 companies to the Japanese market, the Japanese government abolished the tax on digital cryptocurrency valuation based on market value at the end of the period for corporate entities holding digital cryptocurrencies on December 22, 2023. At the same time, the government introduced a reduction in the income tax rate for corporations and individuals holding digital cryptocurrencies The country with the most digital cryptocurrency exchange licenses issued in the world As of now, there are 30 cryptocurrency exchanges in the Japanese market that have been issued trading licenses by the government. All exchanges, especially those in the coin listing sector, follow the regulations of the JVCEA and the Japanese Financial Services Agency (FSA). However, starting from the fiscal year 2024, every operating cryptocurrency exchange will have one to two slots for conducting IEOs and listing mechanisms for global high-quality Web3 projects. At the same time, the entire industry’s coin listing cycle and costs are significantly decreasing. The Country with the Most Institutional Participation in the Web3 Industry Globally While there is no exact number indicating how many institutions have entered the Web3 market in Japan, the current market is active with major Japanese corporations such as SBI, GMO, DMM, Softbank, NTT Docomo, KDDI, MUFG, SMBC, Sony, NEC, Fujitsu, JAL, INPEX, MATSUDA, JR Kyushu, Hakuhodo, Casio, Tokyo Energy, etc., all laying out their Web3 business segments. NTT Docomo is set to release its own digital cryptocurrency wallet product in 2024, which means these corporations are not just superficially participating in the Web3 industry but are already in the stage of deploying products and service lines. IP as a Natural Advantage for the Growth of Japan’s Web3 Market Japan is a global powerhouse in top IP. A vast array of anime and other IPs provide strong content support for the NFT, gaming, and metaverse project development within the Web3 industry. IP is also a unique natural advantage for the Japanese market in developing the Web3 industry. A Large Community and Group Foundation Compared to other global markets, Japan is undoubtedly one of the most active markets for the Web3 community and groups globally. The Bitflyer exchange and Coincheck exchange alone have about 2.5 million registered users each. The activity level of the Japanese community and groups in domains such as blockchain gaming, NFTs, DeFi, X to Earn, mining, Staking, etc., is also very high. Overall, the Japanese Web3 market in 2024 is undoubtedly one of the most watched markets in the global Web3 arena. The TEAMZ Web3/AI Summit also hopes to send more information and signals about the Japanese market to the global Web3 market through this conference. Meanwhile, through keynote speeches, roundtable forums, VIP closed meetings, conference exchanges, project exhibitions, and peripheral activities, the summit aims to provide participants with various opportunities for in-depth exchanges, hoping that we can together build a new global Web3 ecosystem under the new market environment. Highlights of the Conference: 120 TOP industry keynote speakers 100+ official summit VCs 89 booths 100+ official summit communities 100+ official summit media partners 450+ summit specially invited industry TOP KOLs (Key Opinion Leaders) 5000+ summit participants Up to now, a total of 178 institutions and projects have been confirmed as co-organizers, sponsors, VC partners, community partners, and media partners attending this conference. [/URL] [/URL] [/URL] For more information on the conference partners, please visit the conference homepage: Partial list of conference keynote speakers: The TEAMZ 2024 conference will be held at the International Conference Center on the 4th and 5th floors of Toranomon Hills. The 5th floor will primarily serve as the main stage for keynote speeches and project exhibition area. It will also provide spaces for television stations, media partners, and KOL interviews and live broadcasts. The 4th floor will mainly offer spaces for conference VIPs, keynote speakers, and sponsor representatives for private meetings and networking. [/URL] [/URL] The timing of the conference coincides with one week before the Bitcoin halving period. Additionally, April is the peak season for cherry blossoms in Tokyo, making it an ideal time for the event. The conference aims to gather more industry colleagues in Tokyo to celebrate the start of the next new cycle in the industry. Contact us Official conference website TEAMZ official Twitter Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
Adam Cochran, a partner and professor, is bullish about OP, the native token of Optimism, the layer-2 scaling solution for Ethereum. Taking to X, Cochran is convinced OP is undervalued, pointing to the significance of Coinbase and the brand it has created over the years as a crypto exchange and investor in multiple products. In 2023, Coinbase backed the development of Base, a layer-2 scaling solution for Ethereum that uses Optimism infrastructure for its optimistic roll-up. OP Will Rocket Because Of CoinBase And Base In coming up with this assessment, the investor highlights Coinbase’s vast user base and ability to drive retail adoption towards Base potentially. And, as aforementioned, since Base uses Optimism, the expected adoption spike will significantly boost OP from current spot levels. Cochran argues that the “power of discoverability” associated with Coinbase, a brand that facilitates billions of dollars in daily trading, will be crucial to Optimism’s success. This is particularly relevant when looking at OP prices when writing. When writing, OP is stable but up 220% from October lows. The token has been trending higher, benefiting from the broader crypto rally. Even so, though in an uptrend, OP has not reclaimed 2023 highs of around $4.2. To drive the point home, Cochran compares how the BNB Chain blew up in the number of active users. In the last bull run, the chain had an active decentralized finance (DeFi) and non-fungible token (NFT) ecosystem. The BNB Chain’s popularity and soft landing is because the smart contracts platform is associated with Binance, the world’s largest cryptocurrency exchange. Further to the point, the success of Solana, the partner argues, lends its success to the now-defunct FTX. At its peak, FTX injected billions to fund the development of Solana. It was also actively involved in financing some of Solana’s active protocols. The Great Convergence Of Supportive Events Presently, Coinbase is streamlining its operations, recently stopping support for Bitcoin, Litecoin, and other UTXO tokens via Coinbase Commerce. Their focus is on Ethereum-compatible tokens, which could provide hints that Coinbase Commerce might soon be integrated into Base. From the protocol level, Ethereum plans to implement upgrades to make transacting on layer-2 platforms even cheaper. The Dencun Upgrade is scheduled for March and will see Ethereum enhance as part of its long-term scaling roadmap. L2Beat data on March 1 shows that Optimism has a total value locked (TVL) of $7.8 billion, roughly half that of Arbitrum. Meanwhile, Base has been rising up the rankings, commanding a TVL of approximately $1 billion.
Shiba Inu (SHIB) Marketing Lead, Lucie, has highlighted a move that could see the SHIB token make a 2,100% gain if history were to repeat itself. There is also the belief that the meme coin could even go on to enjoy a higher gain this time around, considering initiatives that have been put in place to increase its value. SHIB To Replicate 2021 Run? Lucie mentioned in an X (formerly Twitter) post that SHIB surged by 800% in 2021 without any burns and hinted at something similar happening this year. Interestingly, the 800% gain Lucie referred to is way more than that (over 2,100%). Meanwhile, she highlighted how token burns and stead demand could contribute to such a parabolic move this time. Indeed, the token burns carried out so far by the SHIB community has so far sparked price surges for SHIB at different times. As such, SHIB can be expected to experience more moves to the upside even as more token burns are carried out. These token burns will also increase as Shibarium gains wider adoption. As Lucie noted, demand for the SHIB token is also essential, as token burns do not work in isolation. For the meme coin’s value to rise significantly, there needs to be an increased demand for it even as it becomes more scarce. Lucie seemed optimistic that SHIB could replicate this 2021 run as she added that the meme coin is “poised for growth and waits for no one.” More Than Just A Meme Coin Last year, the Shiba Inu team made a statement with the launch of the layer-2 network Shibarium, revealing their intentions to make SHIB more than just a meme coin. So far, they have done a great job, as the Shibarium launch has added more utility for the crypto token and caused its demand to rise. SHIB’s status as being more than just a meme coin is even more significant when one considers how Ripple’s CEO Brad Garlinghouse had, during the 2024 World Economic Forum (WEF), criticized Dogecoin (DOGE) for not providing any real-life utility. While such a statement is not necessarily true about DOGE, it, however, puts SHIB on a higher pedestal, considering how much it has achieved since Shibarium launched last year. The team is also not slowing down, as they have a lot planned for 2024. The SHIB ecosystem is undoubtedly growing, and the meme coin is at the helm of all of it. At the time of writing, SHIB is trading at around $0.00001282, down almost 8% in the last 24 hours, according to data from CoinMarketCap.
On-chain data shows Bitcoin currently has a thick supply wall between the $60,300 and $62,155 levels that may prevent the asset from falling lower. A Large Amount Of Bitcoin Was Bought Near Current Prices As explained by analyst Ali in a new post on X, BTC has a major support wall just below it right now. In on-chain analysis, the strength of support and resistance levels is gauged through the amount of Bitcoin that the investors bought at them. The chart below shows how the distribution of the investor cost basis has looked like for BTC across the price ranges near the current spot value: Here, the size of the dot represents the number of tokens that the addresses bought between the corresponding price levels. From the graph, it’s apparent that the $60,300 to $62,100 range has a particularly high density of coins right now. Most of the price levels in this range lie just below the current spot price of the cryptocurrency, meaning that the investors who bought here would be making some profit, albeit only a slight one. Generally, when the price retests the cost basis of such investors who were in profit prior to the retest (meaning that the price has approached their cost basis from above), a buying reaction may be produced by these addresses. This is because holders like these may have reason to believe that if they were able to get into profits before, they might be able to do so again in the near future, so they may just accumulate on this “dip.” Such a reaction can naturally provide support to the cryptocurrency. The scale of this support, however, is naturally not anything significant if only a few investors bought at the level to begin with. Narrow ranges that are thick with addresses, on the other hand, might just prove to be a source of noticeable support. In the aforementioned price range near the current spot price, one million addresses acquired a total of about 671,000 BTC. “This accumulation zone highlights strong investor confidence and could serve as a crucial level of support for BTC, potentially cushioning against further drops,” notes the analyst. While the price ranges under the current price are heavy with coins, it’s visible in the chart that this isn’t the case for the ranges above. Just like how supply wallets below can be a source of support, they can instead act as resistance when above. The fact that the supply walls above are quite thin suggests that there wouldn’t be too many investors waiting to quickly exit at their break-even, and thus, selling pressure due to them should be low. That said, it doesn’t mean there isn’t any impedance at all. Bitcoin is approaching all-time highs at this point, meaning that the vast majority of the supply is in profit. At these levels, mass selling for harvesting these gains can be the main challenge preventing the run from continuing. BTC Price At present, Bitcoin is trading around the $62,000 level, meaning that it’s right on the edge of the major support wall.
XRP witnessed an uptick this week moving closer to its 2024 high, but several trends have been cited by crypto analysts that could drive the token even higher in the coming months. XRP Poised For A Positive Upward Trajectory Crypto Egrag, a well-known cryptocurrency expert and trader, has shared his latest insights on the price action of XRP with the community on the social media platform X (formerly Twitter). His analysis came in light of the general correction witnessed in the crypto market a few days back. Egrag’s latest predictions delve into XRP’s potential to reach a new all-time high in the upcoming months or bull cycle. According to the analyst, XRP is presently demonstrating momentum to surpass a bullish cross in the short term. He anticipates this to happen within the year, putting his target around April and August. Crypto Egrag has pointed out two historical instances which he dubbed Cycle 1 and 2 that suggest XRP could reach an unprecedented within the aforementioned timeframe. While drawing parallels to these historical trends, Egrag noted that the first cycle, which sent XRP to its peak, took around 280 days to reach the level after making a bullish cross. Meanwhile, the second cycle took XRP about 140 days to reach the same price level after forming the cross. Consequently, the expert is extending his analysis to a comparable timeframe and duration from these data points. Thus, he has identified precisely the dates between April 8 and August 26 in which his forecast could be realized. Hitherto, Egrag has urged the crypto community to remain unwavering and keep a watchful eye on these two dates, marking a significant day for the crypto asset. Egrag’s X post was part of a previous analysis he made in August last year. In the post, the expert noted that the asset has formed a bullish cross, which usually ignites its price. However, Egrag believes that one does not have to be a Technical Analyst (TA) to identify this action. Specifically, the bullish cross was formed by the “constant struggle” of the 21 weekly Exponential Moving Average (EMA) and the 100 Moving Average (MA). Projected Time For The Token To Reach The $0.9 Threshold Dark Defender, another crypto analyst, has pinpointed a timeframe for XRP to reach the $0.9 price mark. According to Dark Defender, the token arrived at several support levels and began to form a third (3rd) wave. The wave was formed as a result of the altcoin reaching the mid-level Orange Resistance. Defender anticipates the coin to range between $0.7707 and $0.9191 between March 10 and 13 this year. Furthermore, he has predicted a price target of $0.6462 by March 1. Nonetheless, taking into account XRP’s wary advances in recent times, Defender’s forecast seems to be very lofty.
The cryptocurrency market is always ripe with opportunities, and for investors seeking substantial returns, three coins priced below $0.01 are gaining attention for their potential to surge 100X or more in the second quarter of 2024. Shiba Inu (Shiba Inu), BEFE, and PEPE are among these affordable options that have sparked excitement in the crypto community. Shiba Inu (SHIB) Shiba Inu, often referred to as the “Dogecoin killer,” has already made waves in crypto space. Despite starting as a meme coin, Shiba Inu has evolved into a serious contender. The ShibaSwap decentralized exchange and the launch of Shibarium contribute to its growth potential. With an engaged community and ongoing developments, experts suggest that Shiba Inu could see a significant boost, potentially reaching a 100X increase in Q2 of this year. The Shiba Inu ecosystem is not limited to Shibarium; it also includes other tokens like Leash and Bone. These additional tokens add diversity to the ecosystem, offering unique utility and use cases. As the Shiba Inu community continues to grow and the ecosystem expands, the interconnected nature of these tokens could contribute to a positive feedback loop, driving up the value of Shiba Inu. Market analysts and cryptocurrency experts are closely monitoring the overall sentiment surrounding Shiba Inu, noting the potential for positive price action in the coming months. The coin’s community-driven approach and the passionate support it has garnered on social media platforms contribute to its appeal, fostering a sense of unity among investors. While the cryptocurrency market is inherently volatile and subject to sudden fluctuations, the bullish outlook for Shiba Inu in Q2 this year is rooted in tangible developments within its ecosystem. BEFE Introducing BEFE, a compelling contender in the cryptocurrency landscape. Distinguishing itself as a community-driven project, BEFE places a strong emphasis on inclusivity and active participation. What sets BEFE apart from many other tokens is its avoidance of taxes and presales. One of the distinctive features of the self-proclaimed ‘ultimate meme king’ is its integration with the BRISE community, offering BRISE holders the opportunity to earn BEFE through staking. This innovative approach has garnered significant support and generated anticipation within the crypto community for BEFE. As of the latest assessment, BEFE is currently priced at $0.0004144, indicating a strategic position for potential exponential growth. With its affordability and promising technology, meme coin emerges as an intriguing investment prospect. Some analysts even forecast a remarkable 100X surge in the second quarter of the current year for BEFE. The combination of the BEFE’s inherent potential, utility, and the buzz generated within meme communities places it on the radar for unprecedented returns. In some projections, the meme coin is anticipated to outperform leading counterparts like Shiba Inu. The possibility of witnessing 100X price surges in the near future positions the token as a formidable rival to Shiba Inu and other prominent meme coins, offering investors a unique opportunity in the dynamic cryptocurrency market. PEPE In a significant development, Pepe has witnessed an impressive surge of 147% over the last 7 days, culminating in a 10-month peak on February 27th. This surge has propelled Pepe to outshine its rivals establishing itself as the third-largest meme coin based on market capitalization, exceeding the $1 billion mark. Additionally, the trading volume for Pepe surged by 80%, reaching $1.39 billion during the same period. Amidst the recent bull run, PEPE looks poised to continue the momentum. The impact of this rally is evident in short positions, with Coinglass reporting the liquidation of approximately $4.04 million in shorts within this timeframe. The resurgence of meme coins, exemplified by Pepe’s performance, aligns with the broader recovery observed in the overall cryptocurrency market. This recovery is notably influenced by Bitcoin’s recent rally, surpassing the $57,000 mark, a level not witnessed since November 2021. The positive momentum has not only favored Pepe but has also ignited renewed enthusiasm across the entire meme coin sector. The remarkable surge in PEPE value can also be credited to the current excitement surrounding Ethereum’s breakthrough past the psychological barrier of $3,000. Consequently, altcoins associated with ETH such as PEPE are experiencing a significant uptick. Conclusion: In conclusion, the potential for substantial returns in the cryptocurrency market is evident in the projected growth of Shiba Inu (Shiba Inu), BEFE, and PEPE. These coins, priced below $0.01, are poised for significant surges in Q2 2024. Their unique features, community-driven approach, and integration with broader ecosystems contribute to their appeal. Find Out More Here: Website: Telegram: Twitter: Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.
Clone, which is a game-changer open-source protocol for trading non-native tokens on the Solana blockchain, has announced the public mainnet debut of Clone Markets and Clone Liquidity. With the debut of March 1st, Clone’s novel “cloned assets” (clAssets) will make it easier to create extremely liquid markets for non-native assets, giving Solana users access to a more smooth, effective, and convenient trading environment. The goal of Clone is to enable users to trade a variety of non-native tokens on the Solana blockchain with ease, using its cheap fees and quick transaction processing. Despite having one of the busiest DeFi ecosystems, Solana does not have a stable spot trading environment since users are hesitant to provide liquidity to trading pools that bridge assets, particularly for tokens that are not native to the platform. By bringing non-native assets to Solana in the form of its cutting-edge clAssets—unique, cloned versions of pre-existing on-chain assets—hosted on the Clone protocol, Clone seeks to address this problem. It’s a cutting-edge system for trading non-native tokens where liquidity providers may benefit from the unmatched adaptability of Clone’s cutting-edge Comet Liquidity System to enable smooth trading of clAssets with minimal slippage and deep liquidity. Within the Clone protocol, each of the two user interfaces—Clone Markets and Clone Liquidity—has a specific function. While Clone Liquidity gives liquidity providers access to the cutting-edge and very effective Comet Liquidity System, which offers leveraged, cross-margin liquidity pools with just USDC as collateral, Clone Markets is the decentralized trading platform where users may buy and sell clAssets. LPs are able to concurrently provide liquidity to each Clone pool using a single source of USDC collateral. The distinctive arrangement of Clone’s liquidity pools, based on the notion of clAssets, renders them at least twice as capital-efficient as those of any rival AMM. The core values of Clone, which combine the principles of effectiveness, inclusiveness, and usability to produce an integrated platform with high liquidity and minimal capital needs, are embodied by Clone Markets and Clone Liquidity. With the help of these developments, Clone will be able to expand swiftly to a wide variety of on-chain, non-native assets on a single exchange. On February 1st, Clone released its private mainnet product. The initial clAssets on Clone, clARB and clOP, allowed network tokens from Optimism and Arbitrum to be traded with deep liquidity on Solana for the first time. Along with making these clAssets publicly accessible tomorrow, Clone will also be publishing a brand-new token called cloned SUI (clSUI). The first market on Solana where users may exchange SUI tokens is the clSUI pool. Clone is able to quickly generate markets for new clAssets because of the very effective Comet Liquidity System. This allows traders to benefit from a greater variety of trading options on Solana, therefore boosting its DeFi environment and growing its community. The ability for traders to manage their whole portfolio on a single platform on the Solana blockchain and take advantage of speedier, less expensive transactions is one of Clone’s key advantages. Liquidity providers will have chances to profit significantly from Clone in the meantime. In the end, Clone will allow users to trade the tokens they are most comfortable with and significantly expand Solana’s token variety. A significant turning point for the firm, Clone’s mainnet debut ushers in a new age of scaled cloned asset trading on the Solana blockchain with never-before-seen deep liquidity.
StarkDeFi announces the closing 10 days of their innovative ReGenesis campaign—A Blend of Traditional Leaderboard and Gamification StarkDeFi, a leading provider of DeFi solutions built on StarkNet, is entering the final stretch of their standout ReGenesis campaign. The campaign deviates from the current market trend, featuring a gamified twist to the traditional leaderboard approach. The project hints at entering a new phase, stating “After this, ReGenesis goes into intermission – a mission of its own,” signifying exciting developments are on the horizon. As a project poised to launch one of StarkNet’s initial tokens, users have been staying active, accumulating Regenesis Cores, exchangeable for $SDC, StarkDeFi’s native token. StarkDeFi strives to be the ultimate destination for all things DeFi on Starknet. Although it’s still in its infancy, having launched on mainnet in December 2023, the project is gaining significant momentum. Notably, Brian D Evans, a serial entrepreneur and marketing maestro, recently joined as an advisor. Moreover, the project enjoys visual contributions from an undisclosed artist who also played a significant role in designing projects for the Al Wasl Dome in Dubai and Vivid Festival in Sydney, Australia. “StarkDeFi is building an entire suite of DeFi solutions. Whilst we currently offer an AMM (automated market maker) and soon to launch Liquidity Locker, we have an array of products, such as StarkPad, the only native launchpad on Starknet, Limit Orders and Synergy Pools (a zero loss, prize savings protocol). We are also set to launch a few more products, which can be integrated into our current offerings to increase user experience, however, we have to leave something to the imagination” commented their COO. The team comprises global talent with a collective experience of over 20 years. Led by four co-founders, each boasting unique expertise in web3, they are proud of their diverse team. Moreover, StarkDeFi collaborates with a plethora of esteemed partners such as Chainlink Build, Seedify, Trireme Trading, Labs, among others. To learn more about StarkDeFi, please visit here About StarkDeFi StarkDeFi is a permissionless and trustless hub of comprehensive Defi solutions built to leverage ZK-Rollup on StarkNet’s L2 over Ethereum. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
The future of the XRP price has been a hot topic of contention among crypto analysts for a while now. Most of these analyses focus on the possible movements of the price as the bull market unfolds, as well as possible price targets. In the same vein, crypto analyst CryptoBull has presented their own bull case for the altcoin, giving the most realistic price targets. Long Time Price Channel Shows Realistic Price In the analyst CryptoBull posted on X (formerly Twitter), he shows the historical price movement of the altcoin going as far back as 2014. The analyst uses this to deduce the possible trajectory of the XRP price in the coming months using the XRP price channel. According to CryptoBull, using this data, the most realistic price for the altcoin currently sits somewhere between $13 and $39. ”The long-term price channel shows the most realistic #XRP price between $13 and $39 in the coming months!” CryptoBull stated. While the lower end of this channel of $13 was more realistic, the upper end of $39 has drawn criticism from the community. In response to CryptoBull’s prediction, another X user, Ben McClymans, said it was “crazy talk.” This is because for XRP’s price to reach $39 per coin, then its market cap would have to be larger than that of Ethereum, which is currently the second-largest cryptocurrency in the market. However, other community members jumped to the defense of XRP, reminding Ben that the market cap of XRP had actually flipped Ethereum before. Given this, they believe that it is possible that it will end up flipping to Ethereum once again. XRP Price Performance Worries Investors The XRP price performance over the last few years has worried investors because while other altcoins were hitting new all-time highs, XRP continued to struggle. However, this is understandable given that the United States Securities and Exchange Commission (SEC) sued Ripple in 2020, which adversely affected XRP’s performance. The XRP price had crashed off the back of the announcement alone and did not recover as well as expected. There is a light at the end of the tunnel, though, as the lawsuit with the SEC seems to be coming to an end. The court looks to be leaning toward a settlement, which would put an end to the case once and for all. To get an idea of what could happen with the XRP price when the lawsuit is over, we can take a look at what happened when Ripple secured a partial victory over the SEC in 2023. After Judge Analisa Torres declared that XRP programmatic sales did not qualify as securities, XRP jumped more than 60% in a single day. The lawsuit is currently the biggest hindrance to the XRP price performance, and expectations are that the price will surge once it’s over. If it does so, then CryptoBull’s prediction could end up playing out.
One of the top three cryptocurrency exchanges in the world by volume, Bybit, has released the Fiat Cashback Splash for March for both new and seasoned customers who make fiat deposits. Every month during the first week, any of Bybit’s 20 million users that contribute fiat will get rewards. New users will get up to $10 in fee reimbursement when they deposit $100 using fiat or a one-click purchase. Those who have previously deposited $500 or more via Bybit will get a $5 refund. Bybit expands the potential for investment by adding a $30 Buy Crypto Coupon to the mix for those who deposit $5,000 or more. This endeavor honors both recent and long-standing members of the Bybit community. The “Fiat Cashback Splash” is a component of Bybit’s commitment to serve as the global Crypto Ark, paving the path for the future financial system and providing easy opportunities for participation for everybody. Indeed, Bybit will be a reliable companion for all cryptocurrency users, including beginners, enabling them to navigate the crypto terrain.