Economist and gold bug Peter Schiff has warned that high inflation will return with a vengeance and significant Fed rate hikes will be necessary. He also criticized JPMorgan CEO Jamie Dimon for downplaying the severity of the U.S. economic situation. However, he conceded that Dimon’s perspective is “a lot closer to being right than most […]
PRESS RELEASE. In an unprecedented demonstration of community support and market confidence, DOP (Data Ownership Protocol) has successfully raised $162 million through its recent token sale. This remarkable achievement not only underscores DOP’s innovative approach to data ownership but also positions it among the top 10 token sales in the history of cryptocurrency. DOP’s journey […]
Amidst the recent market retracement, notable crypto enthusiast and YouTuber Jeremy DaVinci has sparked optimism in the Bitcoin community. DaVinci’s analysis revolves around a technical indicator, the Bollinger Bands, suggesting a potential rally in Bitcoin’s price trajectory. Where Are We Headed To? According to DaVinci, Bitcoin has closed above the upper Bollinger Bands indicator for two consecutive months, a pattern that historically preceded significant price surges. Drawing from past occurrences, DaVinci hints at the possibility of Bitcoin’s price doubling within three months following this setup. Related Reading: Beyond Halving: Expert Predicts Bitcoin To Soar Above $200,000 With Surprising Catalyst DaVinci, renowned for his early adoption of Bitcoin and emotional support for the cryptocurrency, has positioned himself as a prominent figure within the crypto space. With his latest forecast, DaVinci projects Bitcoin’s price to surpass $130,000 within the next three months potentially. This bullish prediction aligns with similar sentiments echoed by other market experts, further supporting optimism among Bitcoin investors. Things are looking very interesting now. Bitcoin just closed two months above the upper Bollinger Band! Historical data shows that whenever this happens, Bitcoin’s price has doubled within three months. pic.twitter.com/jmMpcVzGew — Davinci Jeremie (@Davincij15) April 9, 2024 Macroeconomic Factors To Drive Bitcoin Rise Adding to Bitcoin’s bullish sentiment, prominent investor Dan Tapiero has voiced his optimistic outlook for the leading cryptocurrency. Tapiero, known for his investment insights and founding roles in Gold Bullion International and 10T Holdings, highlighted a significant macroeconomic factor that drives Bitcoin’s potential ascent. According to Tapiero, the observed correlation in the market points to concerns regarding “monetary debasement” fueled by a substantial increase in the Treasury market over the past five years. Tapiero’s bullish stance centers on the unique scarcity of Bitcoin as a digital asset, emphasizing its potential to outperform traditional assets like gold. Most remarkable macro correlation break I’ve seen in some time. Suggests extreme concern about monetary debasement driven by 60% Treasury mkt increase past 5yrs. Theme not yet widely subscribed. Bullish #GOLD and more so when rates drop. Vaults #Bitcoin to 200k+ 🚀 🚀 pic.twitter.com/muI1CNtN0h — Dan Tapiero (@DTAPCAP) April 8, 2024 While acknowledging the favorable prospects for gold in such a scenario, Tapiero remains particularly bullish on Bitcoin’s future price trajectory. His forecast hints at the possibility of Bitcoin surpassing the $200,000 mark, offering investors an opportunity for substantial gains in digital gold. Related Reading: Bitcoin’s Recovery Rally: Breaking Through This Level Is Key To Bullish Momentum – Analyst The asset has demonstrated resilience amid these speculations and predictions regarding BTC’s possible price rally in the coming months. While Bitcoin has plunged nearly 5% in the past 24 hours, it has traded above $69,000 at the time of writing. Featured image from Unsplash, Chart from TradingView
Venture Capital (VC) firm Paradigm is leading a substantial $225 million funding round for a new Layer 1 (L1) network, that aims to compete with the Ethereum (ETH) blockchain. Other notable participants include VC firms Electric Capital and Greenoaks. According to a recent Fortune Magazine report, Monad Labs, the company behind the blockchain project, aims to compete with established players such as Solana (SOL) and Ethereum and the Layer 1 blockchain protocol Sui (SUI). Monad’s Rebuilt Ethereum Blockchain Per the report, Monad’s initiative is to rebuild the Ethereum blockchain from the ground up, while retaining the ability to execute smart contracts. The project aims to achieve faster transaction speeds, handle higher volumes, and offer lower costs compared to existing networks. Notably, Monad ensures compatibility with Ethereum’s programming infrastructure, known as the Ethereum Virtual Machine (EVM). This compatibility allows developers to port applications built for Ethereum, ensuring a fluid transition to the new blockchain. Related Reading: Is Bitcoin Headed For A Crash? Analysts Cite Possible Downtrend Keone Hon, the founder of Monad, stated in an exclusive interview with Fortune that the company has dedicated approximately two years to developing its blockchain solution. Hon noted that Monad Labs stands out by fully supporting the EVM bytecode standard. Developers use this standard to create decentralized applications (dApps) on platforms such as Ethereum, Polygon, Avalanche, Binance Smart Chain, and Optimism. According to Avichal Garg, managing partner of Electric Capital, nearly 90% of developers working across various crypto ecosystems focus exclusively on EVM chains. This statistic, highlighted in a recent report by Electric Capital, demonstrates the significant appeal of EVM compatibility. Although Monad does not undergo a complete redesign of its programming language like some other blockchains, it still benefits from the widespread usage and familiarity of the EVM. Blockchain-Powered Exchanges? According to the report, Monad plans to launch its mainnet by the end of the year and expects to launch a testnet in the coming months. The company, which currently employs around 30 people, is also looking to launch a native token, although details of its launch alongside the mainnet have not been disclosed. While Keone Hon emphasized the pursuit of mainstream adoption, he pointed out that Monad’s initial use case is likely to be “high-frequency” trading activity, drawing on his own experience at Jump Trading, a data and research-driven trading firm. Hon emphasized the need for a highly performant blockchain to enable exchanges on the scale of Nasdaq or Chicago Mercantil Exchange (CME), which process millions to billions of transactions daily. Related Reading: Bitcoin To $150,000 Is “Programmed” With Halving Approaching: Analyst Lastly, Hon also highlighted the potential for a blockchain with high transaction capacity and low fees to enable various applications, such as gaming. He cited examples where blockchain-based games, such as RuneScape, require frequent updates of player statistics, necessitating low-cost and fast transactions on the blockchain. At the time of writing, ETH was trading at $3,497, down nearly 5% in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com
Runs off ETH network just wondering if anyone can give me insight if this is a good project submitted by /u/Ukrainian_Stonks [link] [comments]
The applications for spot ethereum exchange-traded funds (ETFs) face a potential rejection in May when the U.S. Securities and Exchange Commission (SEC) reaches its deadline for decisions, according to Vaneck’s CEO. His firm is one of the applicants seeking approval for a spot ether ETF. “Right now, pins are dropping as far as Ethereum is […]
submitted by /u/solomonsatoshi [link] [comments]
Curious as to why the supply of Ethereum on exchange has been gradually getting higher. The supply on exchange (as a percentage of total supply) bottomed out at roughly 8% in November 2023 and has gradually increased to 10%+. (I used Santiment Sanbase for these stats). I’m bullish on Ethereum and curious as to why…
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I'm trying to transfer about 70 dollars worth of avax into eth, but the gas fees are sooo expensive like 30-50 dollars… Is there anyway round this or not? submitted by /u/Pandafour20 [link] [comments]
Shiba Inu (SHIB) could be on the brink of a price recovery following a bullish reversal in critical on-chain metrics. This also includes the burn rate, with a recent development showing a sustained increase in the number of SHIB tokens burned. Shiba Inu Demand Looks To Be On The Rise There has been an increase in Shiba Inu whale activity these past few days. On-chain data shows the transfer of 1.7 trillion SHIB to a Robinhood-linked wallet. Transferring such an amount to a centralized exchange will usually raise fears about an incoming dump on the market, but that doesn’t look to be the case this time around. Related Reading: Expert Maps Out Timeline For The XRP Price To Cross $1,000 Instead, Robinhood looks to be accumulating as many SHIB tokens as possible to meet customers’ demand. This also seems to be the case with Binance, the largest crypto exchange by market share, which recently transferred over 464 billion SHIB from one of its wallets to another. These large transactions also come at a time when Bitcoinist recently reported a Shiba Inu whale that spent $19 million to purchase 692 billion SHIB. This whale in question also looks to be holding for the long term as they immediately transferred their SHIB holdings to a non-custodial wallet for safekeeping. The increase in whale activity presents a bullish outlook for the Shiba Inu ecosystem, which could aid the meme coin’s price recovery. SHIB had previously experienced a price dip thanks in part to multiple on-chain metrics, which turned red last week. One of those metrics included the number of large transactions on the network, which Bitcoinist reported had declined by over 10%. Shiba Inu’s Burn Rate Increases By Over 1,200% Data from the burn tracking website Shibburn shows that SHIB’s burn rate has surged by 1287% in the last 24 hours, with 135 million tokens burnt during this period. Furthermore, there has been a sustained increase in these SHIB burns, with the burn rate rising by 129% in the last seven days. Related Reading: Skybridge CEO Says Bitcoin Can Reach Half Of Gold Market, How Much Will BTC Be? This is significant considering these token burns’ impact on SHIB’s price. The sustained increase in the SHIB burns is also undoubtedly a welcome development, considering the decline these past few weeks. Interestingly, the SHIB community has pulled this off while Shibarium’s daily transactions continue to lag. However, activity on the layer-2 network is expected to pick up soon as the Shiba Inu team actively promotes it. Decentralized Exchange (DEX) WoofSwap also recently announced that they have introduced the SHIB -314 token protocol on Shibarium, which could also help drive up the number of transactions on the network. At the time of writing, SHIB is trading at around $0.00002884, up in the last 24 hours according to data from CoinMarketCap. SHIB price holding $0.000028 | Source: SHIBUSDT on Tradingview.com Featured image from Finbold, chart from Tradingview.com
