The meme coin market has recently exploded in both value and trading volume. Data from CoinGecko suggests that the market has reached a market cap of $63.3 billion, and a trading volume of $4.8 billion. As a result, it's clear that traders and investors looking to diversify their holdings are now jumping into memecoins in order to get the maximum ROI that they can.
Ethereum co-founder Vitalik Buterin discusses PoW's centralization issues. Buterin supports his view with data showing miner control in PoW. Continue Reading: Ethereum’s Shift from PoW to PoS Sparks Debate
While sales of non-fungible tokens (NFTs) have declined by over 38% in the past 30 days compared to the previous month, NFTs minted on the Bitcoin blockchain have dominated, accounting for more than 44% of sales. Statistics from the last 30 days reveal that four of the top five best-selling NFT collections all stem from
DTCC has announced it will not allocate any collateral or offer loans for ETFs with exposure to Bitcoin or other cryptocurrencies.
The cryptocurrency world is abuzz with speculation after a deep learning model projected a dramatic price increase for Bitcoin (BTC) within the next month. However, despite the AI’s bullish outlook, financial experts urge investors to approach the prediction with a healthy dose of skepticism. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Bitcoin Price Stagnant, But AI Model Foresees Bright Future For the past week, Bitcoin has been stuck in a holding pattern, hovering stubbornly around the $64,000 mark. This lack of volatility has left many investors scratching their heads, unsure of the market’s next move. But a deep learning model developed by CryptoQuant, a leading blockchain analytics platform, has thrown a curveball into the mix. Source: CryptoQuant The model, trained on a massive dataset of historical price movements and on-chain activity, predicts a significant price surge for Bitcoin in the coming weeks. According to the analysis, Bitcoin could break past the $77,000 barrier within the next 30 days, marking a new all-time high (ATH). Bullish Metrics Support AI’s Vision While the AI’s prediction is certainly eye-catching, some analysts are taking a wait-and-see approach. They point to several bullish metrics that seem to align with the model’s forecast. The network-to-value (NVT) ratio, a metric used to gauge an asset’s relative valuation, has dipped significantly, suggesting Bitcoin might be undervalued. Source: Alternative.me Additionally, exchange reserves have been dropping, indicating a decrease in selling pressure. These factors, coupled with the model’s prediction, paint a potentially optimistic picture for Bitcoin’s immediate future. However, a lurking shadow of uncertainty remains. The Fear and Greed Index, a measure of investor sentiment in the cryptocurrency market, currently sits firmly in “greed” territory. Historically, periods of extreme greed have often been followed by market corrections. This raises concerns that the current price stagnation might not be a prelude to a surge, but rather a sign of an overheated market ripe for a pullback. Bitcoin is now trading at $62.850. Chart: TradingView Stalemate Before Potential Breakout? Technical analysis of Bitcoin’s daily chart reveals further complexities. The price has repeatedly failed to breach its 20-day Simple Moving Average (SMA), a key indicator of short-term momentum. Both the Chaikin Money Flow (CMF) and Relative Strength Index (RSI) are hovering sideways, suggesting a lack of clear direction in the market. These indicators imply that investors might be in for a few more days of sluggish price movement before a potential breakout, either upwards or downwards, occurs. Related Reading: Analysts Call It: XRP Primed For A 700% Surge – Details A Calculated Gamble The deep learning model’s prediction offers a glimmer of hope for Bitcoin bulls, but it’s crucial to remember that AI forecasts are not infallible. The confluence of bullish metrics certainly adds weight to the model’s argument, but the ever-present risk of a market correction fueled by greed cannot be ignored. Featured image from Pixabay, chart from TradingView
Solana (SOL) stablecoin dominance teased despite network congestion
Republic First Bank has officially been seized by U.S. regulators, making a big blow to the regional banking sector. This decision by the Pennsylvania Department of Banking and Securities came after the bank, based in Philadelphia, pulled out of import funding discussions with a group of investors. The Federal Deposit Insurance Corp (FDIC) has appointed
Dogwifhat's unexpected 60% crash surprises holders, while KangaMoon's presale nears $5 million, attracting significant attention from investors and whales alike#sponsored
Solana Co-founder Raj Gokal recently took a firm stance against the skepticism surrounding meme coins. Moreover, slyly targeted Ethereum founder Vitalik Buterin while defending meme coin projects. Also, he attached Buterin’s picture to the post to make his stance bold and clear. Solana Co-Founder Takes Aim At Vitalik Buterin In a post on X, Gokal The post Solana Co-Founder Mocks Vitalik Buterin, Defends Meme Coin Frenzy appeared first on CoinGape .
The closure of Republic First Bank by US regulators has reverberated throughout the financial sector, marking the nation’s inaugural bank failure of 2024. This seismic event has not only shaken investor confidence but also sparked a newfound interest in cryptocurrencies. Observers keenly note a potential shift in sentiment towards digital assets following the announcement, with The post Bitcoin Shines Amid Republic First Bank Crisis, What Next? appeared first on CoinGape .