Day: February 2, 2024

Dogecoin Adoption Rate Touches New ATH, But Why Is This AI Bearish On DOGE Price?

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  DOGE The Dogecoin network is on a roll after a particularly disappointing performance leading up to the end of January. Usage on the network is beginning to pick up once more after the price made its way above $0.08. New adoption saw the highest spikes, as almost 1 million new DOGE wallets were created in a 7-day period. 890,000 New Dogecoin Wallets In One Week According to data from the on-chain analytics platform, IntoTheBlock, the number of new addresses created on the Dogecoin network spiked significantly in the last…

If ZK Is The ‘End Game,’ Is Polygon (MATIC) Ready For $3?

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With zero knowledge (ZK) proofs expected to be a game changer for blockchain scaling, Polygon may be on the brink of a major rally. Taking to X on February 2, crypto market commentator Polynya, asserts that ZK technology is the “endgame” as its “1,000x efficiency upside is irresistible for networks.” Will “ZK” Technology Be The “End Game”? This forecast on ZK adoption is massive for Polygon and its native token, MATIC, which has been under significant selling pressure in the past few trading months. As it is, Polygon Labs, the developer of…

353k Non Farm Payrolls Jump Could Trigger Crypto Market Rally

The global crypto market capitalization rebounded above the $1.6 trillion milestone on Feb. 2 as the latest non-farm payrolls figures cast doubt on U.S. Fed Chief, Jerome Powell’s recent comments.  The job figures in the latest non-farm payrolls report suggest crypto bulls could position for positive price action.   Powell’s comments send crypto prices into $90 billion tailspin  On Feb. 1, the global crypto market capitalization dipped toward the $1.5 trillion area. This came barely 48 hours after Powell made controversial statements suggesting postponing rate cuts beyond March 2024, as widely…

Real World Asset (RWA) Tokenization Is Fake News

There’s some truth to this little white lie, but the absolute truth is while tokenization, by itself, does not solve liquidity or legality problems when it comes to private assets, it also introduces new challenges. RWA tokenization advocates conveniently side-step this issue, and it’s easy for them to do so since most of the co-called real world assets being tokenized are simple debt or collateral instruments that are not held to the same compliance and reporting standards as regulated securities.  Source

Price Set To Retest $20 Next?

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Chainlink has shot up over 12% to break $18 during the past day. A retest of the on-chain resistance wall at $20 could be next. Chainlink Has Outperformed Market With Its 12% Rally The past 24 hours have been green for most of the cryptocurrency sector, but the positive returns have been small for most of the market, with Bitcoin, the largest digital asset, only seeing profits of 1%. Chainlink, however, has separated from the crowd during this period, rallying around 12%. The chart below shows how the coin has…

Analyst Predicts Price Rally To $22

Despite the XRP price’s recent decline, Crypto analyst Egrag Crypto has provided a reason to believe that this presents the perfect opportunity to accumulate more of the token rather than lose conviction in its potential.  XRP On Its Way To $22 Soon? Egrag recently hinted in an X (formerly Twitter) post that XRP could rise to $22 soon enough. The accompanying chart he shared showed that the crypto token will hit this price level if it follows the green route, which the analyst has constantly alluded to. In an X…

Binance Exchange Slapped With a Lawsuit in New York by Victims of October 7 Hamas Attack on Israel: Report

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The world’s largest crypto exchange platform by volume is reportedly being sued in New York by the victims of the October 7th Hamas attack on Israel. According to a new report by ABC News, Binance is being sued by the families of the victims for allegedly providing the terrorist group with a funding mechanism. The lawsuit, which was filed earlier this week by an American woman freed from Gaza and the families of two men killed during the October 7th attack, accuses Binance of processing numerous transactions for Hamas between…

Bitcoin ETF sees net inflow of $38.4m, BlackRock outpaces Grayscale

Bitcoin ETFs experienced a net inflow of $38.4 million on Feb. 1, marking the fifth consecutive day of such inflows.  Grayscale’s Bitcoin Trust ETF (GBTC) also saw a significant net outflow of $182 million. In contrast, the collective net inflow for the remaining nine ETFs in the sector, excluding Grayscale, amounted to $220 million. BlackRock’s iShares Bitcoin Trust (IBIT) outperformed Grayscale Investments’ GBTC in trading volume. This event marks a first for BlackRock since the introduction of spot Bitcoin ETFs in the U.S. on Jan. 11. During the first three…

This Bullish Pattern Signals An Imminent Price Surge

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Market analysts have recently observed a notable pattern in Bitcoin price chart, potentially signaling a shift in the market trend. Jake Wujastyk, a prominent market analyst, has particularly pointed out the emergence of an inverse head and shoulders pattern on Bitcoin’s daily candle chart. This pattern, coupled with Bitcoin’s closing price above a significant “volume shelf” signals an imminent upward trajectory for Bitcoin. Bitcoin Surge On The Horizon In technical analysis, an inverse head and shoulders pattern is traditionally interpreted as a bullish signal. It is characterized by two lower…