Day: February 27, 2024

Bitcoin NFTs cross $100m trading volume on Magic Eden in February

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Bitcoin NFTs on Magic Eden have seen their best month yet for fees and trading volume amid sustained interest in the leading cryptocurrency from industry participants and Wall Street. Magic Eden’s Bitcoin NFT market peaked this month with over $100 million in trading volume transacted by digital collectibles traders, per a Dune Analytics dashboard provided by pseudonymous contributor Sealaunch.  The $2 million in fees paid for buying and selling Bitcoin NFTs on Magic Eden also set a record high on the platform. There were more than 45,000 buyers on the…

MATIC Price Prediction: Imminent Rally to $1.20?

On Feb. 26, MATIC’s price crossed $1.05 for the first time in 2024; the steady rise in Polygon network activity in correlation to the defi market boom suggests more bullish action could follow.  Layer-2 networks like Polygon (MATIC) and Optimism (OP) have been on a tear in recent weeks as investors pile billions of dollars into Ethereum (ETH) leading defi protocols. Defi market boom driving MATIC price rally Amid widespread expectations of Fed rate cuts, investors are increasingly switching focus towards risk assets. As the S&P 500 soared to historic…

Theta Network Leads Crypto Rally With 60% Gain: Here’s Why

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Theta Network (THETA), a platform for decentralized video delivery and edge computing, has seen its price skyrocket by 60% in the past 24 hours. This surge has propelled THETA to become the top gainer across the entire spectrum of the top 100 cryptocurrencies. The rally can be attributed to a confluence of factors, notably the anticipation surrounding the upcoming launch of Theta EdgeCloud in the next quarter, a broader crypto market uplift led by Bitcoin and a bullish chart setup for THETA. EdgeCloud Launch Sparks Growth Catalyst At the heart…

Binance Labs invests in PoS Bitcoin staking protocol Babylon Chain

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Binance Labs, the venture capital and incubation wing of Binance, has announced a strategic investment in Babylon, an innovative Bitcoin staking protocol.  Babylon introduces a unique approach to staking Bitcoin directly on Proof of Stake (PoS) blockchains, allowing users to earn yields without relying on intermediaries like third-party custodians, bridge technologies, or wrapping services. This method offers PoS chains slashable economic security while providing Bitcoin holders a more fluid process for unbonding stakes, thus improving liquidity. Binance Labs has recently intensified its investment activities in the staking and re-staking domains,…

Why This Could Be A Signal To Sell

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On-chain data shows the Bitcoin supply in profit has reached levels that led to some tops in the past, like the peak of the April 2019 rally. Bitcoin Supply In Profit Has Shot Up Following BTC’s Latest Run As pointed out by an analyst in a CryptoQuant Quicktake post, Bitcoin supply in profit has hit very high levels after the asset’s latest rally. The “supply in profit” here refers to a metric that measures the percentage of the total circulating BTC supply that’s currently carrying some amount of unrealized gain.…

MSTR Is a Timely Play on BTC Halving; Initiate at Buy: Benchmark

MicroStrategy (MSTR) has a unique business model based on the acquisition and holding of bitcoin (BTC), which represents the majority of the software company’s valuation, investment banking firm Benchmark said in a Tuesday research report initiating coverage of the stock. Benchmark has a buy rating on the shares with a $990 price target. MicroStrategy added about 8% to $860.75 in early trading on Tuesday. “We believe the boost in demand for bitcoin resulting from the launch of multiple spot bitcoin ETFs, combined with the reduced pace of supply resulting from…

Exploring the Capabilities of the Cross Finance Ecosystem

Cross Finance is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of banking and blockchain. CrossFi seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular […] Source CryptoX Portal