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  • Bitcoin Pepe emerges as a possible go to altcoin as crypto market bleeds

    Bitcoin Pepe emerges as a possible go to altcoin as crypto market bleeds

    Bitcoin Pepe emerges as a possible go to altcoin as crypto market bleeds

    • The crypto market has crashed, losing $1.01 billion in liquidations.
    • Bitcoin (BTC) has plunged below $84k while altcoins like ETH and SOL have slumped 15-20%
    • Bitcoin Pepe’s presale offers a compelling alternative with the price set to rise from $0.0255 to $0.0268 in next presale stage.

    The crypto market is reeling from a brutal wave of liquidations. Over $1 billion in leveraged positions have vanished in the last 24 hours, according to Coinglass data.

    The liquidations have hit traders hard across major exchanges. Bitcoin alone accounted for $396.16 million in wiped-out positions. Ethereum saw $209.58 million evaporate, and Solana’s liquidations reached $70.55 million. Even meme coins weren’t spared—Dogecoin saw over $20 million in liquidations.

    The crypto market erased gains made earlier this week

    Bitcoin (BTC) has plummeted below $84,000 gain, shedding nearly 10% of its value in a single day. The tumble has reversed its rally past $95,000 earlier this week. It has hit an intraday low of $82,467.24 before stabilizing slightly above $83k.

    Ethereum (ETH) followed suit, diving 15% to $2,089, while altcoins like Solana (SOL) and XRP cratered by 20% and 18%, respectively. Cardano (ADA) also plunged 25% to $0.7998 as a majority of the other altcoins bore the blunt of the bloodbath.

    Meme coins were not spared either. Shiba Inu (SHIB) and Pepe Coin (PEPE) have dropped 13% and 18%, respectively, while Sonic (S) and Trump-backed tokens have shed 23% to 25,% respectively. It seems the high-risk corner of the market faced unrelenting exits as fear gripped traders.

    Notably, the crypto market carnage mirrors a broader market slump, with the global crypto market cap tumbling 10% to $2.76 trillion.

    What is causing the crypto market to drop?

    Investors blame CME futures gaps and thinning liquidity for the sudden crypto market drop. Analysts point to liquidity gaps and leveraged bets gone wrong as the culprits.

    Trump’s talk of a strategic crypto reserve couldn’t shield the market from broader economic tremors; the selloff has erased gains sparked by optimism over President Donald Trump’s pro-crypto moves.

    Besides the liquidity gaps, economic factors are also to blame for the crypto crash. Trump’s new 25% tariffs on imports from Canada and Mexico have sparked trade tensions.

    Canada and Mexico supply a third of US goods, and the tariffs threaten growth and stoke inflation fears.

    Following the introduction of the tariffs, American stocks also tanked alongside crypto, with the Dow Jones falling 650 points. The VIX index also jumped to 22, signaling rising market panic.

    Historically, cryptocurrencies falter when fear dominates, pushing investors to the sidelines.

    Bitcoin Pepe emerges as a haven for crypto investors

    Amid this chaos, Bitcoin Pepe stands out as a bold contender. Pitched as the “World’s Only Bitcoin Meme ICO,” blending Bitcoin’s durability with meme coin flair, the project aims to build a Meme Layer-2 for Bitcoin, promising instant transactions and ultra-low fees. Its PEP-20 standard lets users launch memecoins on Bitcoin’s blockchain.

    Unlike the currently bleeding altcoins and memecoins, Bitcoin Pepe is currently in its presale stages, which are structured to ensure the price rises with each presale stage progression.

    The presale is gaining traction despite the market rout. Currently in stage 5 of 30, the presale has raised $3,690,133. The current price sits at $0.0255 and is set to rise to $0.0268 in the next stage.

    The project’s smart contract has already been audited by SolidProof, offering a glimmer of credibility in a sea of uncertainty.

    Interested investors can connect wallets and buy in, betting on its vision of “Solana on Bitcoin” as a lifeline. The project’s whitepaper and roadmap pitch a future where meme coins thrive on the “only chain that will live forever.”

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  • IoTeX, Bitcoin and Solana surge as Pullix emerges as a unique hybrid DeFi exchange

    IoTeX, Bitcoin and Solana surge as Pullix emerges as a unique hybrid DeFi exchange

    IOTX logo on a mobile phone screen
    • IoTeX’s IOTX token is up 163%, driven by an on-chain metrics surge.
    • Pullix’s ongoing presale raises $1.4M; platform introduces innovative “Trade-to-Earn” model.
    • Solana hits a 19-month peak above $102, surpassing XRP in market cap ranking.

    While IoTeX, Bitcoin, and Solana witnessed considerable gains in the past few weeks, a new hybrid DeFi exchange Pullix is making waves with its PLX token presale.

    Read along as we explore the recent market movements as we head into 2024 and the promising features of Pullix, currently in its presale stage.

    IoTeX: bridging physical and digital realms

    IoTeX (IOTX), the native token of the IoTeX network, a decentralized platform facilitating machine-to-machine interactions, has experienced a remarkable surge. The token has gained 109.27% in the last month to trade at $0.05255 at the time of writing. It is trading 162.93% higher over the past year, making it among the very few cryptocurrencies to sustain a bullish trend.

    IOTX price chart

     

    Recent on-chain metrics reveal a surge of over 90% in IoTeX’s native token, IOTX, within the past week. A notable catalyst for this breakout is the platform’s increased activity and adoption, exemplified by processing over 1 million transactions in a single day on December 19th.

    IoTeX’s innovative hardware integration in security and oracle sectors, including products like Ucam home security cameras and Pebble data oracles, is capturing the attention of investors.

    Bitcoin hits $44K

    Bitcoin (BTC), the pioneering cryptocurrency, hit a daily high of $44,075.15 for the first time in over a year. 

    Bitcoin price chart

    While the asset experienced some retracement, the overall trajectory remains positive buoyed by the high anticipations of a spot Bitcoin ETF approval by January 10 and the upcoming Bitcoin halving event. 

    In a review of 2023, Kaiko Research stated that “Bitcoin is set to close the year as one of the best-performing assets, up more than 160% and outperforming all major traditional assets even in risk-adjusted terms,” second only to semiconductor giant Nvidia.

    Solana’s soaring success

    Solana, a high-performance blockchain platform, has outshone other larger-cap altcoins, reaching a 19-month peak above $102. The SOL token price has surged by 765.76% in the past year joining the likes of IoTeX for a consistent bullish surge throughout the year.

    Solana price chart

     

    This surge has propelled SOL to surpass XRP as the fifth-largest cryptocurrency. Other notable gainers in the market include Avalanche (AVAX) and Polkadot (DOT), both experiencing significant price increases.

    Pullix: redefining crypto trading with a hybrid approach

    While the larger crypto market surges towards 2024, Pullix, is set to redefine crypto trading with its innovative hybrid exchange. Combining the strengths of centralized and decentralized exchanges, Pullix introduces a unique “Trade-to-Earn” concept through its native token $PLX.

    The PLX token presale has seen substantial interest, raising $1,387,783 with 85.4% of tokens already sold.

    Investors holding PLX tokens enjoy various benefits, including passive income through staking, trading fee discounts of up to 60%, and exclusive rewards derived from the platform’s daily revenue.

    Should you invest in Pullix? Evaluating the prospects

    As Pullix gains momentum in its presale, investors may wonder whether it’s a worthwhile addition to their portfolios. Maybe the platform’s commitment to transparency, a crypto deposit-only system, and no KYC requirements could be a consideration when thinking about whether or not to invest in it.

    In addition, staking PLX offers a chance for users to earn passive income, and the innovative buy-back and burn mechanism creates scarcity, potentially driving up token value.

    However, as with any investment, investors must conduct thorough research, considering the risks and rewards involved especially with the highly volatile cryptocurrency market.

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  • Shiba Inu BONE Emerges as the Most Used Smart Contract

    Shiba Inu BONE Emerges as the Most Used Smart Contract

    Shiba Inu (SHIB) is unquestionably highly well-liked among whales, particularly whales of Ethereum (ETH). Few crypto assets have the capacity to establish themselves as household names. This alternative currency has perhaps made the most noise since 2021 and has risen to the top of the cryptocurrency field.

    The market capitalization of Shiba Inu once matched that of Dogecoin (DOGE). However, recently, cryptocurrency has fallen farther behind DOGE.

    According to statistics from CoinMarketCap, SHIB, which has a market worth of $5.5 billion, is ranked 15th among all digital currencies. At the time of publication, it had spiked 1.1% in value over the previous day and was trading at $0.00001007.

    It is not just SHIB, the entire SHIB ecosystem has been gaining whale attention. As per the data from WhaleStats, the SHIB governance token has emerged as one of the most used smart contracts among Ethereum whales.

    As per the data, BONE has surfaced as the most used smart contract among the top 500 ETH whales. At the time of writing, BONE is trading at $0.9843 with a 5.23% spike in price in the last 24 hours. The exact reason for the price hike is unknown as there haven’t been any major announcements regarding BONE.

    ETH whales love to hold Shiba Inu

    Data from WhaleStats also reveals that SHIB is the top-held token among the top 2,000 ETH whales. $124,490,426 worth of SHIB is currently being held by these whales. SHIB is followed by MKR, LOCUS, BIT, and UNI.

    In a comparison of the holdings of the top 100 ETH whales, SHIB ranks fifth with $1,215,530 worth of SHIB. SHIB has been having one of its best years, not in terms of price, but in development. However, the team is and has been working on several projects. One of the recent ones that were out is the Shiba Eternity game, which was a hit.



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