Month: February 2024

Bitcoin Set For Positive Performance In Q2 2024: Coinbase Analysts

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Analysts at cryptocurrency exchange Coinbase are backing Bitcoin and the entire crypto market to put up a significantly positive performance in Q2 2024. This development comes as BTC continues its market recovery, gaining by 3.31% in the last week to trade above $43,000.  Downward Pressure On Bitcoin Subsides, Macro Factors To Come Into Play: Analysts In the Coinbase weekly report on Friday, the American exchange’s analysts noted that the market factors that induced downward pressure on Bitcoin were being phased out. This claim is backed by the completion of the…

These Altcoins Are Showing High Social Dominance After Recent Price Swings

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According to crypto intelligence platform Santiment, some altcoins have been enjoying increased attention from investors over the past few days. This comes as the crypto market continues to undergo a positive recovery from its recent slump in the aftermath of the Bitcoin ETF launch. These Altcoins Show Potential For More Profit: Santiment In a post on the X platform, Santiment revealed that three altcoins, including Chainlink (LINK), Immutable X (IMX), and Pyth (PYTH), have become assets of mainstream interest in the past few days.  This revelation is based on their…

Over 890,000 New Addresses Created

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Dogecoin, the meme-inspired cryptocurrency, is experiencing a resurgence in popularity, with key metrics showcasing explosive growth in network activity and user adoption. Dogecoin New Addresses Surge Over the past seven days, a staggering 890,000 new DOGE addresses were created, reflecting an 86% adoption rate as new users engage in their first transactions. This represents a remarkable 1,100% increase in new addresses compared to the previous week, according to on-chain data analyst Ali Martinez. January 29th alone saw a record-breaking 247,240 new addresses created, highlighting the rapid expansion of the Dogecoin…

Bitcoin ‘Bottom Is Not In’, Potential $30K Retest On The Horizon

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Bitcoin (BTC), the largest cryptocurrency by market capitalization, closed January above the $40,000 threshold, signaling positive price action. However, market expert Justin Bennett suggests that Bitcoin’s bottom has yet to be reached.  Bennett’s analysis highlights the possibility of further price declines, with Tether’s stablecoin USDT dominance (USDT.D) chart indicating potential downward movements.  Tether Dominance Signals Concerns For BTC’s Price Bitcoin’s recent price recovery and ability to surpass the $40,000 level have provided optimism among investors. Nevertheless, Bennett believes further price declines could follow a retest of the mid $44,000 range. …

Solana DEXs Outperform Ethereum In Key Metric

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Recent data shows that Solana-based decentralized exchanges (DEXs) have taken Ethereum’s spot in a key metric, creating expectations and positive sentiment for the Solana (SOL) ecosystem. Solana DEXs Outperform Ethereum According to data from DeFiLlama, Solana-based decentralized exchanges (DEXs) have flipped Ethereum in daily trading volume. Over the last 24 hours, Solana’s $1.14 billion trading volume surpasses Ethereum DEX’s $1.133 billion trading volume. This accomplishment occurred for the first time in December of 2023 when Solana’s daily DEX volume reached $1.475 billion, surpassing Ethereum’s $1.164 billion, and hit a growing…

Will Bitcoin Hit $1 Million By 2028? Experts Clash Over Bold Price Prediction

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Tuur Demeester, a Bitcoin evangelist, has recently shared his views on Bitcoin’s potential to reach the $1 million mark by 2028. Demeester’s view on this topic presents a cautious contrast to some of the more bullish predictions in the crypto community. This tempered perspective comes when others, such as Samson Mow, express strong confidence in Bitcoin’s ability to hit this milestone following its next halving. $1 Million Bitcoin By 2028 Is Not Certain Demeester’s skepticism was articulated in response to a post sharing a graph by investor Fred Krueger, which…

Top US Crypto Exchange Coinbase Rolls Out Trading for New Layer-1 Altcoin

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Users of top US crypto exchange Coinbase can now buy, sell and hold the new token of the layer-1 blockchain and smart contract platform ZetaChain (ZETA). Coinbase says it is rolling out support for the altcoin, which launched on February 1st, with the experimental asset label. The exchange gives this mark to tokens that pose certain risks such as price swings and canceled orders because of lower trading volume and availability. ZetaChain is a proof-of-stake blockchain designed to seamlessly enable different blockchain networks to communicate and interact with each other.…

Criminals Behind $2M School Theft Admit Guilt: Crypto Mining Scheme Uncovered

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In recent developments, two California school district officials have admitted guilty to stealing up to $1.8 million and misappropriating electricity to finance and operate a clandestine crypto-mining operation.  The United States Department of Justice (DOJ) disclosed that Jeffrey Menge, former Assistant Superintendent and Chief Business Officer of Patterson Joint Unified School District, and Eric Drabert, the district’s IT Director, pleaded guilty to charges of theft concerning programs receiving federal funds.  Fraudulent Billing Scandal According to the DOJ’s statement, Menge, as Assistant Superintendent, hired Drabert as the school district’s IT director…

Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?

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BNB, the native token of the Binance Smart Chain, experienced a drop on Friday, showing a huge red candlestick after opening at around $305 and moving downward toward $297.93. This downward move began with a rejection at $312.53 on Wednesday, thereby creating resistance at the same level. At the time of writing, the price still shows strong signs of moving downward to its previous support level of $300. If this support level is unable to hold, then the price might continue downward to the next support level at $263.93. But,…

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…