Numerous accounts have recently revealed that shortly after the darknet market (DNM) Incognito apparently conducted an ‘exit scam,’ its operators have now informed their clients and merchants they are facing extortion. The team behind Incognito claims possession of crypto asset transaction logs and archived conversations from its users, warning that this information will be leaked […]
It seems like the whole concept of layer 2 chains should really be taking off as a viable solution for the smaller investor or help to push towards realistic use and utility of the ecosystem as a whole. With Gas fees being pretty unusable for small retail investors (me) that have some experience and want…
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Hi! When talking Ethereum gas fees in this sub, I explained it as some kind of "tax" the user has to pay in order to operate in a economic area (= make transactions). This is an over-simplification and this analogy is not perfect, but that's not my point. It made me think about another…
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Ki Young Ju, the founder of CryptoQuant, a crypto analytics platform, predicts a severe Bitcoin “sell-side liquidity crisis” in the next six months. In this event, the founder thinks that not only will prices erupt to new levels, surpassing expectations, but the crisis will likely lead to a market disruption. Bitcoin Records New All-Time Highs Bitcoin is trading at around new all-time highs following sharp price gains on March 11. The coin roared to print new all-time highs of $72,800 before cooling off to spot levels. Even though the upside momentum has waned as prices move horizontally when writing, the uptrend remains. Accordingly, more traders expect BTC to ease above yesterday’s highs as bulls target seven digits at $100,000. If bulls break above this psychological number, technical and fundamental analysts say it will be a crucial inflection point for Bitcoin. Related Reading: Crypto Institutional Investors Are Frontrunning Retail As Inflows Reach Record Highs The founder expects Bitcoin prices to explode in the next six months primarily because of two factors. The first, Ju notes, is the massive influx of demand from institutions via spot Bitcoin exchange-traded funds (ETFs). So far, analysts have linked the current upswing in Bitcoin to institutional demand. Last week, Ju observed a net inflow of over 30,000 BTC. This means that institutions are taking away more coins from circulation at an unprecedented level, contributing to scarcity. Institutions and wealthy individuals can gain exposure to BTC through spot ETFs without necessarily owning it directly. Beyond this, the concern lies in the limited number of coins held across centralized exchanges and known entities, especially miners. The founder estimates that exchanges and miners own roughly 3 million BTC. Ju explains in the post that entities in the United States hold 1.5 million BTC. BTC Scarcity Crisis Expected The founder notes that rising demand from spot ETFs and a constrained supply will create a “sell-side liquidity crisis” within six months. This scenario could lead to a situation where there aren’t enough sellers to meet the high buyer demand, further lifting prices to fresh levels. Related Reading: Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days The Bitcoin network will slash miner rewards by half in April from the current 6.125 BTC. Because of this, BTC’s emissions will drop, meaning only small amounts of coins will be released into circulation, further worsening the situation. As such, if the current level of demand remains and institutions continue to double down, the expected scarcity crisis may likely cause a major disruption in the market, benefiting coin holders. Feature image from DALLE, chart from TradingView
About 2 percent of total Bitcoin is now tied up in spot ETFs. What would become of long-term price trajectory when they own 30-40 percent of all BTC? Does it reach its ceiling from thereon out? Retail money will be too small to make a dent in prices at that point in relative terms. Because…
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Grayscale has revealed the submission of an S-1 form to the U.S. Securities and Exchange Commission (SEC) for the launch of a new, smaller version of its popular Grayscale Bitcoin Trust (GBTC). This initiative is designed to provide shareholders with exposure to bitcoin, reduced fees and potential tax benefits. Grayscale Unveils Bitcoin Mini Trust With […]
Hi, I'm new in cryptocurrency, I'm discovering this world. I bought about 140 ETH at 2,700$ average price from Coinbase some months ago and I got offered to stake on Coinbase, is this a good solution? I recently moved my ETH to a decentralized wallet (MetaMask) because I heard its not good to keep in…
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Crypto analyst Michaël van de Poppe recently cast a spotlight on two altcoins poised to significantly impact the Web 3.0 ecosystem. In a detailed exposition shared on X (formerly Twitter), Van de Poppe introduced “modular blockchains” and “DePin” as emerging concepts set to redefine the crypto landscape. Emphasizing the need for tangible use cases, Van de Poppe stated, “I’m advocating for investing into projects that fulfill actual use cases. Hence why I’m not that much focused on projects within the Gaming, Metaverse, NFT or Meme space, […] I’d rather want to focus on projects that have an actual use case within the financial Web 3.0 ecosystem.” Crypto + Web 3.0: Modular Blockchains The conversation around scalability and efficiency in blockchain has led to the emergence of modular blockchains, according to Van de Poppe. He described modular blockchains as “a solution from the previous cycle,” aiming to address the high transaction fees and scalability challenges that have hampered platforms like Ethereum. “Remember the high gas fees we were paying during the bull run on Ethereum? Yes, that’s where Layer 2’s and modular blockchains started to come from as a potential solution for this problem,” Van de Poppe explained. By splitting traditional processes handled by a single layer, modular blockchains promise a substantial improvement in transactions per second, addressing the core scalability trilemma of decentralization, scalability, and security without compromising on any. Spotlight On TIA And CQT Among the projects leading the charge in this new era, Celestia (TIA) and Covalent (CQT) emerged as favorites of Van de Poppe. Related Reading: Crypto Analyst Unveils 7 Memecoins To Turn $1,000 Into $1 Million TIA, according to Van de Poppe, stands out as a frontrunner in the modular blockchain space. “One of my favorites is TIA, which enhances the potential of modular blockchains,” Van de Poppe states, underscoring the project’s ambition to redefine scalability and efficiency in blockchain technology. Covalent, in particular, is praised for its comprehensive toolkits for developers, which include Block Explorer Kits named GoldRush and analytics dashboards like Increment. “Covalent aims to build on the DePIN ecosystem, which means decentralized physical infrastructure networks, essentially laying the foundational layer of the entire financial Web 3.0 Ecosystem,” Van de Poppe remarked. Delving deeper into Covalent’s contributions, Van de Poppe highlighted the project’s ambition to secure a structured dataset from over 215 blockchains and integrate AI through the analysis of 100 billion transactions. This integration is aimed at fostering AI consumption, training, and product development. Related Reading: Crypto Analyst Identifies 8 Altcoins To Turn $1,000 Into $1 Million “Promoting decentralized indexing, Covalent enhances network resilience and reduces reliance on central entities,” he noted, underscoring the project’s commitment to decentralization. Furthermore, the activation of a Revenue Fee Switch connected to the Premium API since February signifies Covalent’s economic model’s maturity and its efforts to achieve complete Ethereum Virtual Machine (EVM) state data retrievability. Price Analyses The CQT price rose above the 20- and 100-week EMA in mid-February, generating bullish momentum. The price is now targeting the 0.236 Fibonacci retracement level at $0.53 on the 1-week chart. However, it is worth noting that the price is still around 80% away from its all-time high despite the bullish sentiment in the crypto market. For Celestia (TIA), the situation looks quite different. The price is only 20% below its all-time high and is trading above the 0.236 Fibonacci retracement level on the 1-day chart. Featured image from Shutterstock, chart from TradingView.com
