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  • Bitcoin reaches new all-time high of above $106,000

    Bitcoin reaches new all-time high of above $106,000

    Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024
    • Bitcoin hit $106,400 in the early hours of December 16
    • Crypto trader believes the next three to four weeks are going to be significant for Bitcoin if history repeats
    • Investors believe Bitcoin reaching $120,000 by the end of 2024 is achievable

    Bitcoin set a new all-time high above $106,000 following news that President-elect Donald Trump is considering plans to create a US Bitcoin strategic reserve.

    In the early hours of December 16, Bitcoin topped more than $106,400, according to data from CoinMarketCap.

    Bitcoin reaches over $106,000, setting a new all-time high. Source: CoinMarketCap

    At the time of publishing, Bitcoin has retraced slightly to $104,700. Over the past year, the world’s largest crypto asset has risen nearly 148% in value. Bitcoin’s previous high was set on December 5, hitting close to $104,000.

    News of Bitcoin’s rally comes as Trump announced he’s considering creating a US Bitcoin strategic reserve similar to its oil reserve. Speaking to CNBC last week, Trump said:

    “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead.”

    In relation to a question about whether the US will create a Bitcoin strategic reserve, Trump said: “Yes, I think so.”

    In a post on X, Ash Crypto wrote: “Bitcoin is breaking out. If history repeats, the next 3-4 weeks are going to be massive.”

    Crypto-friendly administration

    The incoming Trump administration is seen as more crypto friendly compared to Biden’s team.

    During his campaign, Trump promised to make America the “crypto capital of the planet.” Since winning the US election, his team has already made significant appointments, many of whom are crypto-friendly.

    Last week, Trump appointed Paul Atkins as the next Chair of the US Securities and Exchange Commission (SEC). He will be replacing Gary Gensler who is stepping down on January 20, 2025.

    Trump also named David Sacks as the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.” In November, Trump announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

    Speaking to the BBC, Peter McGuire from trading platform XM.com, said:

    “The Bitcoin rally since the election has been parabolic and the FOMO – or fear of missing out – rally is gathering momentum. Many investors believe $120,000 is achievable by the end of the year and then in 2025 there’s talk of greater than $150,000 by mid-year.”

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  • Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility
    • Bitcoin’s network difficulty hits a record high of 90.67 trillion as of August 2, 2024.
    • Bitcoin’s hash rate reached a record 677 EH/s on July 27th, boosting network security.
    • Bitcoin’s RSI at 44 suggests potentially oversold conditions; the price may test $58,000

    Bitcoin has set a new record for network difficulty, reaching 90.67 trillion on August 2, 2024 according to data on CoinWarz.

    This milestone represents a significant rebound following three months of declining difficulty, signalling renewed confidence among miners in the cryptocurrency’s network.

    The increased difficulty implies that mining new Bitcoin blocks now requires more computational power, potentially driving up operational costs and influencing Bitcoin’s future supply and pricing dynamics.

    Bitcoin’s hashrate also hit an all-time high

    On July 27th, Bitcoin’s hashrate surged to a record 677 EH/s, reflecting a robust and secure network infrastructure. This peak suggests intensified competition among miners and strengthens the network’s resilience against potential security threats.

    A high hashrate not only indicates increased mining activity but also has the potential to positively impact Bitcoin’s price by boosting investor confidence.

    BTC price under increased bear pressure

    Currently, Bitcoin is trading at $63,103.42, showing a 0.17% increase over the past 24 hours. The cryptocurrency has been fluctuating between $62,248 and $65,593, suggesting a mild recovery trajectory despite recent volatility.

    If this trend continues, Bitcoin may avoid the $62,000 resistance level, potentially paving the way for new highs.

    However, the Relative Strength Index (RSI) for Bitcoin is at 44.64, indicating that the cryptocurrency is approaching oversold conditions.

    Bitcoin price

    A declining RSI points to diminishing bullish momentum, and if bearish forces intensify, Bitcoin might test its next support level at $58,000. Further declines could follow if market pressure persists.

    Overall, Bitcoin’s rising network difficulty and hashrate highlight a strengthened and competitive mining environment. These factors are essential for evaluating the network’s health and security as Bitcoin navigates through ongoing price volatility.

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  • DeFi’s TVL reaches $100B with Bitcoin boost, high expectations for Cardano’s AI competitor

    DeFi’s TVL reaches $100B with Bitcoin boost, high expectations for Cardano’s AI competitor

    It’s just three months into 2024 and it’s still raining records in the crypto sector. The latest one came on March 9, 2024, after the global value of DeFi protocols crossed $100 billion as the rising demand for Bitcoin (BTC) fueled interest in top cryptos to invest in. 

    Bitcoin has been growing impressively since the launch of BTC ETFs in the US after a landmark decision from the country’s regulators.

    There’s reason to cheer in the altcoin space too. Altcoin holders are in good spirits after InQubeta (QUBE) recently made waves with its positive price action. 

    The QUBE token has left analysts impressed with its presale gains. With its cryptocurrency ICO raising more than $11.9 million so far, some investors see it as a potential competitor for Cardano (ADA). 

    InQubeta: helping AI startups rise higher

    InQubeta is a crypto-based crowdfunding platform for AI projects. The Ethereum-powered platform connects AI innovators with a community of investors, mentors, and financial experts, and helps them scale their business.  

    People can participate in the process by purchasing its QUBE token and buying NFTs that represent the projects. Once the transaction is processed, the funds are transferred to the startup and the buyer gets to own a share in the former’s equity. 

    Besides fundraising, InQubeta helps startups scale their projects through mentorship and marketing support. The platform connects innovators with an extensive network of professionals. Some of these professionals include veterans who come with years of experience and can guide startups through the challenges of the AI industry. 

    The vibrant community can also help them with brand strategy and marketing their projects. To maintain a distinctive brand presence, startups can leverage InQubeta’s social media channels. 

    Rated as one of the best altcoins for 2023, the QUBE token has to thank its deflationary model for its popularity. The model contracts the token supply when the markets are in red. 

    The reduced supply allows the price to stay stable and demand to rise. The advantage helps the token retain its audience and even draw more crypto users. If there is any increase in token supply during such a time, it’s checked by burning the additional tokens. 

    The InQubeta team has created an ambitious roadmap for the platform and its longevity. As per the plan, several new initiatives in store will enhance the platform’s brand presence. 

    The first among such initiatives is a staking dApp for crypto users that will also boost blockchain growth. The team is also looking to get the QUBE token listed on a centralized exchange so that more people can explore its USPs. 

     

    Bitcoin has become eighth most valuable asset in the world

    Bitcoin is a top-notch cryptocurrency that supports high-speed and secure online transactions. As investing in BTC ETFs reaches new highs, its native token BTC has become among the highest-grossing assets globally.

    The BTC token’s growth has helped the crypto market attract more people. In March, the global value of DeFi protocols reached $100 billion due to a Bitcoin-led rally.

    In a related development, Bitcoin’s market capitalization reached $1.42 trillion, making it the eighth most valuable asset globally.

    Cardano to partner with Dubai police

    Cardano is a public blockchain that’s powered by the Ouroboros protocol. The evidence-based methodology behind the protocol gives Cardano leverage over new altcoins. The open-source platform supports seamless dApp deployment with its scalability. Its native token is ADA and it’s used for various transactional purposes on the blockchain. 

    It recently unveiled its ‘SuperNode’ feature that aims to ramp up smart contracts operations through a more efficient and scalable ecosystem. 

    The blockchain has been in the news due to its collaboration with the Dubai police. According to reports, the Dubai police department will be joining hands with the Cardano Foundation to leverage blockchain to improve its data security measures. 

    Conclusion

    Apart from driving financial inclusion, Bitcoin, InQubeta, and Cardano have emerged as popular options for increasing generational wealth. With their sustained growth, these tokens are fast outperforming other asset categories and analysts are recommending them for long-term holdings.

    The uptick in these coins’ popularity comes after a slew of new initiatives that have expanded their scope. For Bitcoin, the ETF mania unlocked a major growth surge. In the case of Cardano, its lightweight consensus and collaborations have bolstered its market presence. 

    Meanwhile, InQubeta has been riding high after its AI-centric platform and presale success took the world by storm.

    These tokens sport cutting-edge security frameworks and consensus protocols that boost investors’ confidence in their potential.

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  • $TIA Eyes Further Gains as $GFOX Presale Reaches Over $2.3 Million

    $TIA Eyes Further Gains as $GFOX Presale Reaches Over $2.3 Million

    $GFOX progress piques crypto enthusiasts’ interests, as $TIA eyes continued price pump

    If you’re looking for good investments, $TIA could be a good crypto to buy now. The token impressed with its year-end run, and the momentum has extended to the new year. $TIA is looking to keep up its run, and its future outlook suggests it could be one of the best cryptos to invest in. $TIA isn’t the only impressive altcoin currently. 

    The new presale meme coin, $GFOX, is also having a good run, surpassing $2.3 million on presale. Both altcoins are profitable investments this year. 

    Galaxy Fox ($GFOX): Fox-themed Hybrid Meme Coin With Excellent Utility 

    Galaxy Fox is an Ethereum-based meme ecosystem where users can play, earn, and have fun. The crypto project is dedicated to providing users with fun and income-earning opportunities. Galaxy Fox will leverage meme appeal and features to create fun, while its web3 game, runner, will be the basic earning medium in the ecosystem. The Runner game is P2E, and users can enjoy the thrill of playing against each other while earning. 

    You can also earn on Galaxy Fox by staking the $GFOX token. Staking rewards come from the crypto project’s Stargate – the central hub for allocating residual earnings to staked tokens. Stargate is funded by automatically adding 2% of every transaction’s total value. It facilitates ecosystem replenishment and fuels committed $GFOX token holders’ passion. Staking $GFOX tokens makes you eligible to receive a proportional share of Stargate’s rewards periodically. This satisfactory incentivizing gives users compelling reasons to HODL the $GFOX tokens. 

    Minting and trading Galaxy Fox NFTs is another feasible way of benefiting from the crypto project. Galaxy Fox is releasing about 3000 of its coolest NFTs during its ongoing presale, and you can mint them directly on Galaxy Fox’s official website and trade them on popular NFTs trading platforms. The NFTs will have a high possibility to increase in value rapidly, making them buys or assets to keep for anyone. They’ll play a vital role in improving players’ chances of winning their games while equally being an item of value that can be traded for real money in the Galaxy Fox NFTs marketplace. 

    Players can get other game-enhancing digital items in the marketplace, leveraging the $GFOX token to complete transactions. The hybrid meme-GameFi token is billed for a high-value increase in the coming months. This makes potentially a must-own crypto asset either via winning the platform’s web3 game, staking, or joining the presale. The Galaxy Fox presale has been on for a while, and it’s gradually nearing its end, making it a good crypto to buy now before its retail launch. 

    Currently, the token 6th presale is rounding up out of the proposed 10. Over 80% of the available 3.5 billion presale tokens have been sold, indicating limited time to join the presale. $GFOX presale price is considered the lowest value it will ever be at, and investors can expect a value rise with stage progression. Hence, the earlier the entry, the lower the purchase price and the higher the potential profit margin. You should join now. 

    >>BUY $GFOX TOKENS<<

    Celestia ($TIA) Price Outlook 

    Celestia is a modular blockchain that supports easy deployment of blockchains with reduced overhead. This makes it a welcome protocol by most developers. It scales by rethinking blockchain architecture from scratch and decouples execution from consensus by leveraging new primitive data availability sampling. 

    The network doesn’t impose settlement or execution constraints. This allows blockchain developers and builders to define their settlement and execution environments, enabling them to access new and unrealized possibilities. 

    $TIA functions as the platform’s native currency. It is one of the top altcoins to own currently due to its bullish momentum. The crypto yielded about 29% in the last 24 hours, bringing its 7-day return to over 35% increase. $TIA trades around $15.70 – $16.68 currently, indicating a sharp surge from its initial $12 market price. The cryptocurrency looks poised for a $20 run, making it part of the top 10 altcoins to consider currently. Analysts believe $TIA upward momentum could last a while, and the market shows a strong bullish sentiment too. 

    Conclusion 

    $GFOX is one of the top-performing ICOs of 2024 and will likely burst out of the gates running when it hits retail exchanges later this year. $TIA is another good crypto to buy now, though its upside potential is somewhat limited by the profits it’s already seen over the past two months, as early investors will begin adding strong sell pressure. $GFOX’s continuous progress at presale indicates its high potential, and joining it presale could be the best way to potentially highest returns. 

    Learn more about $GFOX here:

    Visit Galaxy Fox Presale | Join the Community

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  • Cryptocurrency Ownership Reaches 49 Million in the U.S

    Cryptocurrency Ownership Reaches 49 Million in the U.S

    • Top 10 countries like the UAE, Vietnam, and Saudi Arabia showcase mainstream cryptocurrency adoption.
    • The U.S. boasts 49 million active cryptocurrency owners.
    • With a 10.30% ownership rate, Ukraine emerges as a crypto hub.

    In a world brimming with a myriad of cryptocurrencies, each vying for attention and market dominance, the global landscape of digital assets is undergoing transformation. Amidst this sea of possibilities, certain countries stand out as key players in the cryptocurrency revolution.

    According to CoinJournal.net, the U.S., with a 14.36% ownership rate, boasts nearly 49 million active participants in the cryptocurrency market.

    Here are the top 10 countries where owning cryptocurrency has become a mainstream phenomenon:

    United Arab Emirates

    With a population of 9.5 million, the United Arab Emirates tops the list with an impressive ownership percentage of 27.67%. Over 2.6 million residents of the UAE have enthusiastically joined the crypto revolution, making it a prominent hub for digital asset enthusiasts.

    Vietnam

    The Southeast Asian nation of Vietnam boasts a population of nearly 99 million, and a remarkable 21.19% of its citizens, totaling over 20.9 million people, have embraced cryptocurrencies. The country’s tech-savvy population has played a pivotal role in driving this surge.

    Saudi Arabia

    In the heart of the Middle East, Saudi Arabia stands out with an ownership percentage of 17.53%. With a population of over 36 million, more than 6.4 million Saudis have ventured into the crypto space, reflecting a growing interest in digital financial assets.

    United States

    Despite its lower ownership percentage of 14.36%, the sheer scale of the United States, with a population exceeding 339 million, means that nearly 49 million Americans are actively involved in the cryptocurrency market. The U.S. remains a powerhouse in the global crypto landscape.

    Singapore

    This vibrant city-state has become a crypto hotspot, with 13.93% of its 6 million residents holding digital assets. Singapore’s reputation as a financial and technological hub has attracted a significant number of crypto enthusiasts, contributing to the global phenomenon.

    Iran

    With a population of 89 million, Iran has seen a substantial 13.46% of its citizens, around 12 million people, diving into the world of cryptocurrencies. Despite regulatory challenges, Iranians have found ways to participate in the global crypto market.

    Philippines

    Boasting a population of over 117 million, the Philippines has witnessed a surge in crypto ownership, with 13.43% of its residents, totaling over 15.7 million people, actively engaging in the digital currency space.

    Ukraine

    With 10.30% of its 36.7 million population owning cryptocurrencies, Ukraine is carving a niche for itself in the global crypto arena. The country’s tech-savvy youth and a growing awareness of digital assets contribute to its rising crypto ownership.

    Venezuela

    Despite economic challenges, Venezuela stands out with a crypto ownership percentage of 10.30%. Nearly 3 million Venezuelans, out of a population of 28.8 million, have turned to cryptocurrencies as an alternative financial solution.

    South Africa

    With a population of over 60 million, South Africa rounds off the top 10 with a solid 10% ownership percentage. Over 6 million South Africans have embraced cryptocurrencies, highlighting the widespread appeal of digital assets on the African continent.

    Max Coupland from CoinJournal commented on the findings: ”The United States, with its substantial population and widespread adoption, remains a formidable force in shaping the trajectory of the global crypto landscape. As individuals continue to explore and invest in digital assets, the findings reflect the enduring allure of cryptocurrencies as a mainstream financial phenomenon.”

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