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  • Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution

    Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution

    Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution
    • Binance Labs invests in BounceBit for Bitcoin restaking and CeDeFi innovations.
    • BounceBit integrates CeFi and DeFi empowering BTC beyond traditional value storage.
    • BounceBit’s dual-token system enhances security, transparency, and network utility for Bitcoin.

    In a strategic move aimed at expanding the utility of Bitcoin, Binance Labs, the venture capital and incubation arm of Binance, has announced its investment in BounceBit.

    This collaboration signals a significant step towards redefining Bitcoin’s role beyond traditional storage, leveraging innovative approaches like Bitcoin restaking and CeDeFi protocols.

    BounceBit empowering Bitcoin with CeDeFi integration

    BounceBit emerges as a groundbreaking initiative, spearheading the evolution of Bitcoin’s role in the digital ecosystem. It introduces pioneering concepts such as Bitcoin restaking and the fusion of centralized finance (CeFi) and decentralized finance (DeFi) principles.

    At its core, BounceBit emphasizes asset-driven empowerment for Bitcoin, refraining from altering the underlying Bitcoin blockchain. By seamlessly integrating strategies like funding rate arbitrage and on-chain certificates issuance, the platform transforms Bitcoin into a dynamic force within the ecosystem.

    Led by a team with diverse expertise spanning decentralized finance, traditional finance, and Layer 1 blockchain technology, BounceBit prioritizes security and transparency.

    Through regulated custody and Multi-Party Computation (MPC), alongside innovative solutions like Mirror X and off-exchange settlement (OES), BounceBit’s platform ensures a secure environment for Bitcoin engagement in yield-generating activities.

    BounceBit’s Bitcoin restaking initiative

    A key innovation introduced by BounceBit is its unique Proof of Stake (PoS) Layer 1 ecosystem. This ecosystem incentivizes validators to stake both BounceBit tokens and BTC, fortifying network security and directly involving BTC in network operations.

    Through restaking Bitcoin across multiple systems like oracles and bridges, BounceBit aims to enhance the security and operational efficiency of the network.

    The platform’s commitment to developing a robust restaking infrastructure is evident, as it leverages a dual-token system and a combination of CeFi and DeFi frameworks.

    By providing a secure and transparent environment, BounceBit empowers BTC holders to explore new avenues for yield generation across various networks.

    With a focus on innovation, security, and transparency, BounceBit is poised to revolutionize the landscape of Bitcoin restaking and CeDeFi, paving the way for enhanced utility and accessibility in the digital asset space.

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  • SAGA token price prediction; Bitbot follows in its footsteps

    SAGA token price prediction; Bitbot follows in its footsteps

    • Saga Protocol sees surge post-mainnet launch with SAGA token trading volumes surpassing $1 billion.
    • Binance expands support for the SAGA token across multiple products, boosting accessibility and liquidity.
    • Bitbot’s $BITBOT presale raises over $2 million, with tokens currently priced at $0.0148.

    In recent months, the cryptocurrency market has witnessed significant developments with the emergence of groundbreaking projects like Saga Protocol and Bitbot.

    These initiatives are reshaping the landscape of blockchain technology and trading, offering innovative solutions to users worldwide.

    350+ projects already integrated on Saga

    Since the launch of its mainnet on April 9, Saga Protocol has demonstrated remarkable performance within the blockchain ecosystem.

    With its focus on supporting various applications, especially in gaming, Saga has attracted widespread attention from both developers and investors.

    The protocol’s mainnet debut saw the integration of over 350 projects, highlighting its potential to revolutionize decentralized applications.

    Moreover, Saga’s strategic partnerships with industry leaders such as Polygon and Avalanche further solidify its position as a frontrunner in the blockchain space.

    Binance lists SAGA token on multiple products

    Binance, the world’s largest cryptocurrency exchange, has recently expanded its support for Saga across multiple products.

    By listing Saga on various platforms including Binance Earn, Convert, Margin, and Futures, Binance aims to provide its vast user base with seamless access to Saga’s ecosystem and trading functionalities.

    This move underscores Binance’s recognition of Saga’s potential and its commitment to offering innovative opportunities to users.

    SAGA token price prediction

    The SAGA token has witnessed an impressive 30% surge in price backed by over $1 billion in trading volume since its debut.

    The token debuted at $5.71 and has hit an all-time high (ATH) of $7.89. The token has seen extraordinary trading volumes and a surge in Futures Open Interest (OI), indicating robust market demand and investor confidence.

    Analysts project continued price appreciation, with targets set at $8.00 and $10.00.

    As investors eye potential gains, the SAGA token remains poised for further upside, supported by strong market fundamentals and increasing demand.

    Bitbot: revolutionizing trading:

    As Saga Protocol and its native token SAGA make waves within the crypto space, Bitbot, a non-custodial Telegram trading bot, is also attracting investors’ attention as it revolutionizes the trading landscape with its institutional-grade tools and secure platform.

    By integrating with self-custodial wallets and employing advanced security measures like KnightSafe, Bitbot ensures the safety of users’ assets while providing access to sophisticated trading functionalities.

    At the heart of the Bitbot project lies its native token $BITBOT, which is an integral part of Bitbot’s platform. It offers holders exclusive benefits such as revenue sharing and governance participation.

    The $BITBOT token is currently in the presale stage and it has garnered significant traction, raising over $2.1 million to date.

    With the current price of $0.0148 per $BITBOT token, investors have the opportunity to participate in Bitbot’s growth journey at a favourable entry point. As Bitbot progresses through its presale stages, investors can expect incremental price increases, reflecting the project’s expanding reach and market potential. For instance, in the next presale stage, the price is expected to rise to $0.0155.

    To participate in the $BITBOT presale, visit the official Bitbot presale website.

    Conclusion

    Saga Protocol and Bitbot represent two innovative ventures driving forward the evolution of blockchain technology and trading.

    With their disruptive capabilities and commitment to delivering value to users, these projects are poised to shape the future of decentralized finance and trading ecosystems and are potential opportunities for crypto investors.

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  • Wirex Token (WXT) surges on partnerships and integrations ahead of WPAY launch

    Wirex Token (WXT) surges on partnerships and integrations ahead of WPAY launch

    • In the past month, WXT token has surged by more than 55%.
    • At press time, Wirex Token (WXT) was trading at $0.008041.
    • Investors are looking forward to the WPAY official launch; Wirex opened early access to WPay in January.

    Wirex Token (WXT) has experienced a significant surge in value fueled by strategic partnerships, integrations, and anticipation surrounding the imminent launch of WPAY, Wirex’s decentralized payment network.

    With a focus on empowering users through self-custody and seamless crypto transactions, Wirex has positioned itself at the forefront of the evolving digital finance landscape.

    Wirex expanding utility and reach

    Wirex Token (WXT) has emerged as a unique multi-blockchain cryptocurrency, powering Wirex’s X-tras rewards program and seamlessly integrating with the new wave of decentralized finance (DeFi) ecosystems.

    Built on both the Stellar Network and Ethereum blockchain, WXT offers maximum speed, efficiency, and flexibility for users seeking direct control over their assets.

    Wirex customers are rewarded with WXT for their loyalty, earning up to 4% back on purchases made using Wirex cards and up to 12% annually on their WXT account balances through the Savings Bonus feature. This incentive structure not only encourages engagement with the Wirex platform but also fosters participation in the growing DeFi landscape.

    Anticipation builds with WPAY launch imminent

    Wirex opened early access to WPay in January this year, and the Wirex Token price has surged by more than 70% since then.

    With the official launch of the WPAY imminent, the excitement is pulpable among early investors and WXT holders.

    In a nutshell, WPAY promises to revolutionize the way users interact with cryptocurrencies by offering a decentralized payment network that empowers individuals with self-custody and direct control over their assets.

    Utilizing Polygon CDK’s cutting-edge technology and Gateway FM’s IP providing service, WPAY aims to provide a seamless and secure payment experience, accepted by over 50 million merchants in more than 200 countries. With security being a top priority, every transaction made through WPAY is ensured to be smooth and safe, instilling confidence in users as they embrace the future of finance.

    Besides the much anticipated WPAY official launch, another factor behind the WXT price surge is the tapping of ZeroFox by Wirex to tackle dark web and money mule accounts. Also, last month, Wirex adopted cutting-edge policy management solution from Corlytics for growth.

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  • Bitcoin (BTC) price prediction as it breaches $72k

    Bitcoin (BTC) price prediction as it breaches $72k

    • Bitcoin price forecast points to a possible $82,000.
    • Ten days remain to the much anticipated Bitcoin halving event.
    • Kangamoon, a new meme coin, has raised over $4M in its ongoing presale taking advantage of the crypto hype created by Bitcoin’s price surge

    Bitcoin (BTC) has been making significant waves in the cryptocurrency market, with its price breaching the $72,000 mark again today.

    BTC’s price surge comes amidst a backdrop of growing optimism and speculation surrounding the future trajectory of the leading cryptocurrency as new coins like Kanagamoon come up.

    Analysts have been closely monitoring Bitcoin’s price movements, offering forecasts and insights into where it might head next.

    Bitcoin price forecast

    In recent months, Bitcoin has defied expectations, rallying from lows of $15,000 at the end of 2022 to its current highs. This remarkable price surge has sparked wild speculation among traders and investors, with some predicting that Bitcoin could be in for its biggest month ever.

    However, despite the bullish momentum, there are lingering concerns among some market participants, including Federal Reserve officials like Neel Kashkari, who have expressed worries about Bitcoin’s price volatility.

    At its current price of $72,354, Bitcoin (BTC) has more than doubled its price since the end of 2023. At first, the rally was pegged on the approval of spot Bitcoin ETFs by the U.S. SEC. The impact of the ETFs was so strong especially following the outflow of BTC from crypto exchanges as the ETFs took up much of the bitcoins from the market creating a supply crunch.

    Additionally, factors such as the upcoming Bitcoin halving event and increased institutional interest in the cryptocurrency market have also been potential catalysts for driving BTC’s price appreciation.

    But even as the BTC price appreciates, analysts have been skeptical with some pointing out that Bitcoin’s price could experience a pullback in the near term, potentially revisiting levels around $60,000 before rallying back to its recent peak of $73,777 or even higher.

    While this pattern of pre-halving dips is not uncommon in Bitcoin’s price history, and it is often followed by a continuation of the primary uptrend, it seems Bitcoin has already hit bottom in its recent pullback and is now prepared to set a new all-time high (ATH), as we enter the halving eve.

    As depicted by Thomas on X, Bitcoin’s halving event has always spurred BTC to register new highs

    According to Jelle’s Bitcoin price prediction, BTC could easily hit $82,000 if it successfully breaks through the current wedge.

    Kangamoon: SocialFi and Play-to-Earn merge

    As Bitcoin prespare for pre-halving cycle, Kangamoon is emerging as a notable project that aims to revolutionize the way users interact with memes and earn rewards.

    Kangamoon is building a vibrant community of meme enthusiasts while integrating elements of SocialFi and Play-to-Earn (P2E).

    At the heart of the Kangamoon project is its native token $KANG,which iscurrentlyin the presale stage.

    The platform offers users the opportunity to engage in various activities, including assembling champions, participating in epic battles, and betting on favorite fighters to earn $KANG tokens and exclusive rewards.

    $KANG is an ERC-20 token on the Ethereum blockchain, with a maximum supply of 1 billion tokens. Users can claim their $KANG tokens following the conclusion of the presale event, with details about the token claim process available on the Kangamoon website, social media channels, newsletter, and Telegram community.

    Kangamoon’s unique social-fi model incentivizes active participation, with users competing in weekly, monthly, and quarterly challenges to earn $KANG and other rewards.

    Kangamoon presale

    In the ongoing Kangamoon presale, the project has raised an impressive amount, totaling $4,384,434.039.

    With 15.3% of the tokens already sold, there is still 84.7% remaining for potential investors to participate in the presale event.

    The current presale stage offers a 10% bonus on all purchases, providing an attractive opportunity for early supporters to acquire $KANG tokens at a favorable price point of $0.0196 per token.

    The presale phase is a crucial step in Kangamoon’s journey, as it enables the project to secure funding and build momentum ahead of its official launch. As the project progresses through its roadmap milestones, including the development of the Kangamoon Play-to-Earn Arcade and the launch of the Kangamoon P2E website and app, investors and enthusiasts are eagerly anticipating the next stages of Kangamoon’s evolution.

    Conclusion

    Bitcoin’s price continues to capture the attention of the cryptocurrency market, with forecasts suggesting further upside potential. And at the same time, Kangamoon is carving out its niche in the industry, offering a unique blend of meme culture, social finance, and play-to-earn mechanics to create an engaging and rewarding experience for users.

    As both Bitcoin and Kangamoon navigate their respective paths, investors and enthusiasts remain vigilant, eager to seize opportunities and navigate the ever-changing landscape of the cryptocurrency market.

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  • Dogwifhat (WIF) price forecast amid pullback as Algotech’s ALGT token presale nears $4M

    Dogwifhat (WIF) price forecast amid pullback as Algotech’s ALGT token presale nears $4M

    • Dogwifhat (WIF) price dips 14.35% to $3.31 in a day; however, still 51% higher than a month ago.
    • WIF price is projected to surge to $4.2 if it holds the current support level.
    • Algotech’s $ALGT presale raises $3.7M; token priced at 0.08 tether.

    Dogwifhat (WIF) has experienced a significant price pullback causing concern among investors.

    As WIF retraces, investors are turning to new crypto projects like Algotech that are offering investment opportunities with their presale stages.

    Dogwifhat (WIF) price pullback causes concern

    Dogwifhat (WIF) has faced a notable downturn, with its price plummeting by 14% within a day, marking the largest single-day price drop over the past seven days.

    At present, the token is trading at $3.31, marking a substantial decline from its peak of $4.8189 reached on March 31, 2024.

    Despite this pullback, Dogwifhat’s price remains 51% higher than a month ago, showcasing its overall growth trajectory although investors are starting to get worried about what the future holds.

    Dogwifhat price prediction

    There are mixed sentiments regarding Dogwifhat’s (WIF) price forecast.

    While the recent pullback has dampened hopes of the token reclaiming its $4 mark soon, some analysts remain optimistic about its long-term trajectory.

    With the broader crypto market undergoing consolidation ahead of the Bitcoin halving, there’s potential for WIF to regain momentum and surpass the $4 threshold again.

    Some analysts like Pando believe it is just a matter of time before WIF regains its bullish trend, especially seeing that the RSI indicator is almost at its bottom.

    According to Zer0, the WIF token is sitting in an interesting position and if it holds the $3.5 support level, it could easily hit $4.2 soon.

    However, bears persist, there are fears that the once very popular Solana-based memecoin could drop to around $2 in the next few days.

    Algotech: redefining crypto trading

    Algotech emerges as a leading player in the crypto trading sphere, offering a cutting-edge decentralized algorithmic trading platform.

    Powered by advanced algorithms and machine learning capabilities, Algotech empowers traders to navigate complex markets with efficiency and precision.

    The platform’s native token, $ALGT, serves as a gateway for investors to participate in Algotech’s ecosystem and benefit from its innovative trading solutions.

    The $ALGT token plays a crucial role in Algotech’s ecosystem, providing investors with voting governance rights and ownership stakes in the platform. Moreover, early investors in $ALGT stand to receive dividends from the profits generated by Algotech’s trading strategies, which encompass futuristic approaches such as hedging and mean reversion.

    This unique model incentivizes investor participation and aligns interests towards the platform’s growth and success.

    Algotech presale

    Investors have shown significant interest in the ongoing Algotech presale, with the total raised amounting to $3,723,875.680 so far.

    The presale presents an opportunity for investors to acquire $ALGT tokens at the current stage price of 0.08 tether, with the price set to increase to 0.10 tether in the next stage.

    With a minimum purchase requirement of $25, investors of all levels can participate in Algotech’s vision of revolutionizing trading through cutting-edge technology. The presale accepts various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and others.

    Conclusion

    As Dogwifhat (WIF) navigates through the current price retracement, investors remain optimistic about its long-term prospects, buoyed by positive price predictions and market dynamics.

    Concurrently, Algotech’s $ALGT token presale continues to gather momentum, offering investors an opportunity to participate in the future of algorithmic trading.

    With both entities poised for growth and innovation, the crypto landscape awaits exciting developments in the coming months.

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  • Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    • Coinbase’s partnership with Lightspark for Bitcoin Lightning Network integration enhances transaction efficiency.
    • Lightspark’s advanced technology streamlines Lightning Network access, offering low-cost BTC transfers.
    • The collaboration empowers Coinbase with reliable, scalable node infrastructure, driving global financial innovation.

    Coinbase, a leading cryptocurrency exchange, has announced a strategic partnership with Lightspark to integrate the Bitcoin Lightning Network.

    The collaboration aims to revolutionize the way users conduct Bitcoin (BTC) transactions, offering them enhanced speed and cost-efficiency.

    Lightspark, in an exclusive blog post, revealed the culmination of their efforts spanning nearly two years to refine their platform as the premier gateway to the Lightning Network. With Coinbase onboard, clients can now enjoy seamless access to low-cost and almost real-time BTC transfers.

    Lightspark’s advanced technology, including its AI-driven smart engine “Lightspark Predict,” optimizes liquidity and routing for maximum efficiency.

    Coinbase to retain control over Lightning signing keys

    Through Lightspark’s remote-key validation implementation, Coinbase retains control over Lightning signing keys while Lightspark manages the node infrastructure. This ensures a reliable, scalable, and fully optimized node infrastructure for Coinbase users.

    Shan Aggarwal, Coinbase’s VP of Corporate & Business Development, expressed confidence in establishing a global financial ecosystem prioritizing efficiency and speed.

    The integration signifies a significant stride towards achieving this goal, opening doors to a multitude of payment-related use cases facilitated by Lightspark’s innovative solutions.

    Coinbase’s decision to integrate the Lightning Network comes at a time when Bitcoin’s scalability and transaction speed have become critical concerns. With transaction fees on the primary network rising, the Lightning Network offers a promising solution to alleviate congestion and reduce costs.

    The move aligns with Coinbase CEO Brian Armstrong’s vision, who previously highlighted the potential of Lightning Network integration.

    Founded in 2022 by David Marcus, Lightspark has garnered support from key industry players and investors, positioning itself as a frontrunner in Lightning Network solutions. The partnership with Coinbase further solidifies its standing in the market.

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  • Nexo leads 35+ crypto giants in push for Bitcoin emoji

    • Nexo leads 35+ crypto giants in a push for a Bitcoin emoji.
    • The ‘Bitcoin Deserves an Emoji’ movement gains traction globally.
    • The movement has surpassed 10,000 endorsements.

    In a groundbreaking move, Nexo, alongside over 35 major crypto organizations, is spearheading a campaign to establish a Bitcoin emoji.

    This initiative aims to solidify Bitcoin’s cultural and technological significance and has already garnered significant traction within the crypto community.

    Push for a Bitcoin emoji gains momentum

    The ‘Bitcoin Deserves an Emoji’ movement, backed by industry leaders such as Kraken, Brave, and Polygon, is swiftly gaining momentum.

    Within just one week, the petition to the Unicode Consortium amassed over 10,000 endorsements, signalling widespread support for the cause. With the goal set at 50,000 signatures, the initiative highlights the unity and strength of the global crypto community.

    The push for a Bitcoin emoji reflects the cryptocurrency’s growing prominence and market dominance. Kosta Kantchev, Co-founder & Executive Chairman of Nexo, emphasized the necessity of a universal symbol for Bitcoin, given its significant impact on the global economy and its ever-expanding user base.

    Why are organizations pushing for a Bitcoin emoji?

    The initiative marks a significant moment in cryptocurrency history, coinciding with Bitcoin’s new all-time highs and the anticipation surrounding the fourth Bitcoin halving.

    With over 170 million community members worldwide represented by the participating crypto organizations, the campaign underscores the collective effort to cement the legacy of Bitcoin in the digital landscape.

    The quest for a Bitcoin emoji parallels previous endeavours by mainstream brands like Taco Bell and Tinder, demonstrating the crypto community’s commitment to advocacy and innovation. By leveraging social-economic advocacy, the ‘Bitcoin Deserves an Emoji’ movement aims to overcome the absence of a dedicated Bitcoin symbol on digital platforms.

    Nexo, recognized as the world’s leading digital assets institution, is at the forefront of driving crypto innovation and through initiatives like Nexo Ventures and the ‘Bitcoin Deserves an Emoji’ campaign, Nexo continues to push boundaries and shape the future of finance.

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  • Tether now the seventh-largest Bitcoin (BTC) holder

    Tether now the seventh-largest Bitcoin (BTC) holder

    • Tether recently committed 15% of its net profit to Bitcoin investments.
    • On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2.94B.
    • Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

    Tether, the leading issuer of USDT, has emerged as the seventh-largest holder of Bitcoin (BTC) after a strategic acquisition of 8,888 BTC on March 31, valued at $618 million.

    The latest purchase substantially bolstered Tether’s Bitcoin holdings, bringing the total to 75,354 BTC. The acquisition, executed at an average price of $30,305 per BTC, has proven to be astute, with the market value now standing at $5.2 billion.

    CoinStats data indicates an impressive 128% increase in the value of bitcoins in the wallet that made the latest BTC acquisition, translating to an unrealized profit of $2.94 billion.

    Tether’s strategic Bitcoin acquisition

    Tether’s decision to secure a substantial amount of Bitcoin comes at a time when institutional interest in the leading cryptocurrency has surged.

    Fueled by the approval of United States spot Bitcoin ETFs and anticipation surrounding the Bitcoin halving, Tether’s move reflects a strategic response to the evolving landscape of digital assets.

    Tether’s ascent to becoming a major Bitcoin holder underscores its commitment to diversifying the backing assets of its stablecoins.

    With a declared intention to allocate 15% of its net profit towards Bitcoin investments, Tether aims to strengthen its position within the cryptocurrency market and further solidify its role as a key player in the digital asset space.

    This strategic move not only elevates Tether’s standing within the cryptocurrency community but also highlights the growing importance of Bitcoin as a core asset in institutional investment portfolios.

    As Bitcoin continues to gain traction as a store of value and an investment asset, Tether’s strategic investment strategy underscores its vision to remain at the forefront of innovation and disruption in the evolving landscape of finance and technology.

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  • Bitfarms mines less BTC in March despite expanding its mining Fleet

    Bitfarms mines less BTC in March despite expanding its mining Fleet

    • Bitfarms mined 286 BTC in March, down from 300 in February.
    • Bitfarms’ fleet upgrade aims for 21 EH/s and 21w/TH efficiency.
    • Bitfarms sold 284 BTC increasing treasury holdings to 806 BTC.

    Bitfarms Ltd. (BITF), a prominent global Bitcoin mining company, experienced a slight dip in its Bitcoin (BTC) production for the month of March 2024, despite its ongoing efforts to expand and upgrade its mining fleet.

    Bitfarms mined a total of 286 BTC in March 2024, down from the 300 BTC mined in February.

    This decline in production can be attributed to various factors, including participation in grid-stabilizing curtailment programs and power plant maintenance activities in Argentina.

    Additionally, a temporarily lower average operating EH/s and a 4.8% increase in network difficulty compared to the previous month also contributed to the decrease in BTC production.

    Bitfarms’ fleet upgrade and expansion plan

    Despite the decrease in BTC production, Bitfarms seems to be very committed to enhancing its mining capabilities.

    The company has been actively pursuing its fleet upgrade and expansion plan, aiming to reach 21 EH/s and 21w/TH in 2024.

    To achieve this goal, Bitfarms has made significant investments, including the purchase of 28,000 Bitmain T21 miners, along with additional S21 miners and S21 hydro miners.

    These acquisitions are part of Bitfarms’ strategy to improve operational efficiency and capitalize on the potential for increased mining margins amid rising Bitcoin prices.

    Current financial standing and future outlook of Bitfarms

    Bitfarms sold 284 out of the 286 BTC earned in March, generating total proceeds of $19.2 million.

    Furthermore, Bitfarms increased its BTC treasury holdings to 806, valued at $56.7 million, and held Synthetic HODL™ of 85 long-dated BTC call options, along with $66 million in cash, resulting in total liquidity of $123 million.

    Looking ahead, Bitfarms remains optimistic about its growth prospects.

    The company is set to participate in several upcoming conferences and events, including DigitalABC’s First Annual Canadian Crypto Asset and Blockchain Policy Conference and the Bitcoin Policy Summit.

    With its ongoing fleet expansion efforts and a focus on operational efficiency, Bitfarms is well-positioned to navigate the evolving cryptocurrency landscape and capitalize on opportunities in the market.

    By diligently expanding its mining fleet and adapting to market conditions, Bitfarms continues to solidify its position as a key player in the Bitcoin mining industry.

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  • here’s what’s driving the price rally

    here’s what’s driving the price rally

    • CORE DAO’s token, CORE, sees a 67% surge reaching $2.75.
    • Several institutional investment funds have shown interest in CORE.
    • Technical indicators signal a bullish trend for CORE, despite the high RSI suggesting potential overvaluation.

    The price of Core DAO’s native token, CORE, has experienced a staggering surge of over 200% within a week, capturing the attention of cryptocurrency investors.

    This surge prompts an investigation into the factors fueling CORE’s rapid growth and its implications for the broader cryptocurrency industry.

    CORE price performance

    CORE DAO operates as an L1 blockchain supporting Ethereum Virtual Machine (EVM), enabling the execution of Ethereum smart contracts and decentralized applications (dApps). Its native token is referred to as CORE.

    With its “Satoshi Plus” consensus mechanism, CORE combines delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS) for security. CORE serves as both the utility token and governance token of the Core network, facilitating various functions such as paying transaction fees, staking on the Core network, and participating in on-chain governance.

    CORE’s recent price surge has astonished market observers, with the token’s value soaring by an impressive 67.25% in just one day, reaching $2.75.

    CORE price chart

     

    This surge has propelled CORE to the 54th position in market cap rankings, showcasing its significant market influence. Moreover, trading volume for CORE has surged by 148.07% in the last day alone, indicating heightened investor engagement and liquidity in the market.

    CORE’s supply dynamics reveal that 875,161,702 tokens are currently in circulation, representing approximately 41.67% of its total supply of 2.1 billion tokens. With a fully diluted market cap of $5.78 billion, CORE’s potential market reach is substantial, enhancing investor confidence and interest in the project.

    Technical indicators further support the bullish sentiment surrounding CORE. Exponential moving averages (EMAs) for 50, 100, and 200 days signal a bullish trend, acting as crucial support levels for price movements.

    The MACD line indicates a positive sentiment, strengthening the bullish momentum for CORE. However, the high RSI suggests that the asset may be overvalued, potentially leading to significant price fluctuations.

    Why is the CORE price rallying?

    The recent surge in CORE’s price can be attributed to various factors, notably the endorsement from Coretoshis Lab. This endorsement highlighted the involvement of over 100 crypto institutional investment funds planning to purchase and hold CORE in the current year, instilling confidence in investors and attracting attention to the project.

    Coretoshis Lab’s optimism about CORE’s future trajectory, coupled with references to “going to the Moon” and promising prospects for CoreDAO in 2024, has fueled FOMO among investors eager to capitalize on its upward momentum.

    The Core Chain x Multibit/Bitstable: Core Journey Campaign also kicked off today (April 1, 2024) further fuelling the positive sentiment around CORE cryptocurrency. 

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