Market expert Lark Davis has recently taken to social media to assert that the much-anticipated altcoin season is far from over despite short-term corrections and challenges the broader crypto market faces. Davis believes that significant opportunities lie ahead for altcoins, particularly as their total market capitalization (excluding Bitcoin and Ethereum) hovers around $1.05 trillion. Key Factors For Impending Altcoin Season The expert points out that the current altcoin market cap is nearing its previous high of $1.13 trillion from November 2021. He recalls a similar scenario from February 2021, when the altcoin market cap tested the highs from January 2018 before breaking through. This breakout resulted in an impressive surge from $360 billion in February 2021 to $1.13 trillion by November 2021—an increase of over 200%. Davis firmly believes that once the altcoin market cap surpasses the $1.13 trillion threshold again, we could witness one of the largest altcoin seasons in the history of cryptocurrency. Related Reading: Whales Snap Up 30 Million XRP As Ripple Launches Its RLUSD Stablecoin Several key factors contribute to Davis’s optimism regarding the impending altcoin surge: Bitcoin’s Performance: Currently at all-time highs, the Bitcoin price strength often catalyzes interest in altcoins. Political Transition: With Donald Trump set to take office in just 34 days, market sentiment may shift favorably towards cryptocurrencies. Global Rate Cuts: Central banks worldwide are reducing interest rates, which typically increases liquidity in the market. Increased Capital Investment: An influx of cheap capital is making its way into the cryptocurrency space, setting the stage for potential growth. Risk-On Environment: The current market conditions are among the strongest for risk-on assets, creating an ideal backdrop for altcoin investment. Rally Anticipated As Bitcoin Dominance Rises Echoing Davis’s sentiments, crypto analyst Miles Deutscher emphasizes that the real altcoin season has yet to commence. He points to compelling historical evidence suggesting that alt-seasons are not mere coincidences but rather distinct seasonal phenomena backed by statistical patterns. Historically, Ethereum (ETH) has shown impressive returns from January to May, often outperforming Bitcoin during this period. During these months, Ethereum averages about 28% monthly returns, compared to a mere 3% for the rest of the year. Related Reading: MicroStrategy’s Bankruptcy Risk: CEO Warns Bitcoin Must Drop To $16,500 To Trigger Collapse In addition, the analyst asserts that the current environment is particularly favorable for this rotation, as Ethereum has historically outperformed Bitcoin by approximately 20% per month during alt-seasons. As Bitcoin’s performance strengthens, so too does the likelihood of capital flowing into Ethereum and other altcoins. This rotation is already observable in the recent surge in Bitcoin dominance, which has mirrored patterns seen in previous alt-seasons around 2017 and 2021. At the time of writing, ETH, the largest altcoin on the market, is trading at $3,686, down 4.4% over the 24-hour period and nearly 6% over the week. Featured image from DALL-E, chart from TradingView.com
The Nigerian Economic and Financial Crimes Commission (EFCC) recently arrested 792 suspects involved in crypto romance scams. Scams Traced to Foreign Kingpins The Nigerian anti-graft body, the Economic and Financial Crimes Commission (EFCC), recently arrested 792 suspects implicated in crypto romance scams. The arrests followed a raid on a building believed to be a hub
Speculation is rising that MicroStrategy may temporarily halt Bitcoin ( BTC ) purchases in January due to a rumored blackout period affecting the issuance of shares or convertible debt. These blackout periods, often self-imposed by publicly traded companies, restrict certain financial activities to comply with regulations or avoid the appearance of impropriety. According to a venture capitalist, Executive Chairman Michael Saylor faces restrictions in January that could prevent him from issuing convertible debt to finance additional Bitcoin purchases. This news has sparked concern among investors who follow MicroStrategy’s aggressive Bitcoin buying strategy. Some analysts speculate the blackout could be linked to insider trading regulations, as many companies impose restrictions following fiscal quarter closings, lasting up to a month and ending shortly after earnings announcements. Others suggest the restrictions may apply only to “at-the-market” (ATM) share sales rather than convertible debt issuance. A theory connecting the potential pause to MicroStrategy’s recent inclusion in the NASDAQ 100 index on December 23 has also gained traction. Internal recommendations may have prompted this move. MicroStrategy is expected to announce its next earnings report between February 3 and 5, 2025. Analysts believe a blackout period could span all of January or begin around mid-month. Some argue that the impact of such a blackout is overstated, as the company has previously demonstrated a commitment to regulatory transparency through regular 8K filings and press releases. Currently, MicroStrategy holds $46.02 billion worth of Bitcoin , with an unrealized profit of over $18.9 billion. In December alone, the company reportedly purchased over $3 billion worth of BTC at prices exceeding $100,000, reflecting its bullish stance on the cryptocurrency. Bitcoin’s strong performance this year has significantly boosted MicroStrategy’s stock price, with MSTR shares up 460% year-to-date . This surge has elevated the company into the top 100 publicly traded firms in the US. Following its addition to the NASDAQ 100 , MicroStrategy is rumored to be a contender for the S&P 500 index next year. Despite potential short-term restrictions, the company’s massive Bitcoin holdings and strong market performance underscore its unwavering faith in the cryptocurrency’s long-term potential.
The OECD’s policy paper highlights AI’s potential to reshape G7 tourism, enhancing sustainability and visitor experiences while addressing risks.
Binance’s launch of its SOL liquid staking token, BNSOL, has marked a significant milestone, amassing $1 billion in Total Value Locked (TVL) in just three months. As of now, BNSOL
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The cryptocurrency market is no stranger to ambitious predictions, with XRP often at the forefront of bold forecasts. Some suggest it could reach extraordinary price levels such as $100, $300, or even $500 . However, these projections raise important questions about feasibility, especially considering XRP’s circulating supply of over 57 billion tokens and the market capitalization required for such milestones. XRP’s Track Record XRP has previously demonstrated its potential for explosive growth. During 2017, it surged from fractions of a cent to an all-time high of $3.84 in early 2018. This unprecedented increase brought massive returns to early investors, solidifying its reputation as a high-reward investment. Many current holders hope for a repeat of such a rally, particularly as the market is experiencing a massive resurgence. Top analysts believe XRP can repeat this remarkable performance . Some analysts also have higher expectations, with many triple-digit targets projected for the digital asset. For example, financial expert Armando Pantoja recently claimed that a $100 price point might be within reach due to a recent breakout from a 7-year consolidation. Market Capitalization and Feasibility XRP’s current circulating supply and market conditions present significant challenges to reaching such lofty price targets. Trading at $2.49 with a supply of 57.18 billion tokens, XRP’s market cap stands at $142.44 billion. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 If XRP reaches its all-time high of $3.84 with its current circulating supply, its market cap will become $219.57 billion. If it hits $5 as a prominent analyst recently predicted , that would put its market cap at $285.9 billion. If it breaks into double-digit territory by hitting $10, the digital asset would have a market cap of $571.8 billion, surpassing Ethereum’s current market cap of $463.7 billion. However, more ambitious targets like $100 or beyond require far greater capital inflows. A $100 XRP price translates to a staggering $5.7 trillion market cap, exceeding the entire cryptocurrency market valuation of $3.64 trillion. Achieving $300 would necessitate a $17.155 trillion valuation, nearly matching gold’s market capitalization of $17.9 trillion. At $500, XRP’s market cap would skyrocket to $28.59 trillion. Can XRP Reach These Targets? Given the current market landscape, the likelihood of XRP reaching $100, $300, or $500 in the near term is minimal without transformative shifts in adoption or global financial systems. More modest goals, such as $5 or $10, appear far more achievable based on historical growth trends and potential future demand. However, platforms like Changelly have set long-term projections for XRP, expecting the asset to cross $300 by 2040, and $500 by 2050. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post With Current Circulating Supply, Can XRP to Hit $100, $300, or $500? Details appeared first on Times Tabloid .
Matt Hougan predicts Ethereum will exceed Solana by 2025. Layer-2 technology enhances Ethereum's scalability and usability. Continue Reading: Matt Hougan Predicts Ethereum Will Surpass Solana by 2025 The post Matt Hougan Predicts Ethereum Will Surpass Solana by 2025 appeared first on COINTURK NEWS .
Bitcoin’s recent price surge has driven up mining equipment costs, with Shenzhen's Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike.
Bitcoin’s recent price surge has driven up mining equipment costs, with Shenzhen’s Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike. According to a report by Wen Wei Po , the price of the Antminer S21 335T, a mining device, has now reached $5,600, or around RMB 40,700, climbing up by 30% compared to last year’s price of $3836.19, which comes to 28,000 RMB. There is even much higher demand for the Antminer S21 XP, a raw mining device with water-cooling facilities, which has continued to cause stockouts on Bitmain’s official website . Huaqiangbei merchants report a surge in bulk orders, with buyers from Russia, the U.S., and Canada purchasing hundreds or thousands of units. This demand is driven by Bitcoin’s ( BTC ) growing price, which has caused mining businesses to become more lucrative even with the inflated costs of equipment. You might also like: Bitcoin price may see a harsh reversal after Fed decision Hong Kong has become an important export hub The 2021 ban on cryptocurrency mining in China resulted in mining machine transactions being redirected through Hong Kong due to Hong Kong’s free-trade environment and ease of logistics. Merchants in Shenzhen said most of the new mining equipment is exported through Hong Kong, capitalizing on its status as a way station for international trade. Cross-border logistics services can deliver mining machines to Hong Kong on the same day, and the machines are then sent to domestic and foreign air and sea transports. You might also like: HashKey Global’s HSK soars to ATH, signaling rising market interest In the $100K to $108K range, BTC mining difficulty reached an all-time high. The mining difficulty adjustment at block height 874,944, around 1:33 UTC on Dec. 16, increased 4.43% and achieved an all-time high of 108.52 trillion, according to TheMinerMag . According to data from Hashrate Index , the network’s average hashrate in the last 14 days hit 771 EH/s while the seven-day moving average stood above 800 EH/s. This record hashing difficulty and fall in hash price reflects the macro impact of BTC’s price increase on mining economics. It confirms the claimed hardware shortages and price surges and also provides insight into global competition among miners. Although mining-related activities are explicitly banned in any form by mainland China, the legal framework in Hong Kong permits the sale and export of mining hardware, giving merchants an outlet to satisfy this global demand. Read more: Crypto miner migration could give Russia control over 18% of bitcoin hashrate