Day: March 20, 2024

Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target for March

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Polkadot (DOT) is gaining positive momentum and could be poised for a significant price surge, according to crypto analysts. Michaël van de Poppe, an expert in the field, has identified encouraging market dynamics for Polkadot, suggesting a potential upward trajectory in the next few days or weeks. Polkadot Analyst Insights: Promising Momentum Polkadot on the USDT pair showed a regular pattern of higher highs and lower lows, according to Van de Poppe, suggesting an increase in bullish momentum. He also pointed out that Polkadot’s Bitcoin pair is still around a…

QCP Capital predicts a larger bull run post-Bitcoin halving

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Crypto asset trading firm QCP Capital predicts Bitcoin to reach a new all-time high post-halving, driven by the wider liquidity rotation.   According to the firm’s latest market update, Bitcoin ETF inflows hit a peak on March 12, with over $1 billion entering the market. However, a subsequent decline in net inflows and a significant outflow of $326.2 million—the largest to date—led to a sharp drop in Bitcoin’s price to $60,770, before it recovered to over $63,000. Bitcoin’s daily trading volume has declined by 8% today, indicating a potential slowdown in…

DeFi Technologies’ Subsidiary Valour Inc. Reaches a Record of $C838 Million in AUM

Assets Under Management Growth: Valour has experienced a significant rise in its AUM, reaching a record of C$838 million. This represents an increase of 19.8% since February 28th and builds upon a 57.8% growth from January 2, 2024. Surging Demand for Regulated Digital Asset Products: The surge in AUM highlights robust demand for Valour’s comprehensive suite of regulated exchange-traded digital asset products. This indicates the effectiveness of the company’s strategy in aligning offerings with investor interests. Recently launched ETPs include Valour Internet Computer (ICP), Valour Ripple (XRP), and Valour Binance…

Mysten Labs Technology Prototype on Sui Provides First Proof of Elastic Blockchain Scaling – Blockchain News, Opinion, TV and Jobs

Palo Alto, California, March 20th, 2024, Chainwire Pilotfish, a prototype Sui extension, was able to grow smart contract execution throughput in direct proportion to the number of machines used. Mysten Labs, a team of leading distributed systems, programming languages, and cryptography experts and originators of the Sui Network, today announced a landmark achievement in scaling blockchain capacity. During testing and development in a Sui blockchain environment, Pilotfish, a prototype Sui extension, increased throughput by 8x when backed by 8 machines, successfully illustrating the possibility of linear scaling. Notably, the latency…

Bitcoin Supply On Exchanges Hit 4-Year Low, But Why Is Price Crashing?

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Certain Bitcoin fundamentals suggest the flagship crypto token is well primed for further growth in this bull market. However, its recent price decline has sparked concerns about the reason for this downward trend despite everything pointing to a sustained upward movement.  Bitcoin Supply On Exchanges Hit 4-Year Low Data from the on-chain analysis platform CryptoQuant highlighted that the supply of Bitcoin on exchanges has seen nearly a 40% drop in 4 years and is reducing ahead of the Bitcoin halving. This underscores the bullish sentiment around the Bitcoin ecosystem as…

STX price jumps amid market downturn following Nakamoto upgrade approval

Bitcoin layer 2 network Stacks (STX) was trending on Google after the network’s Nakamoto upgrade received widespread approval.  According to the Stacks Foundation, the upgrade was approved by every voter who had Stacked STX, and 99.98% of the votes cast by those who were not stackers supported the proposal as well.  As a result of this community endorsement, the Nakamoto Testnet is slated to go live on March 25, 2024. The next two phases are already scheduled for April 15–29 for the Nakamoto Mainnet (Instantiated) and May 15–29 for the…

Bitcoin’s Drop Below $62K Is the Biggest Single-Day Loss Since FTX’s Collapse

Bitcoin’s (BTC) price correction gathered pace Tuesday as the U.S.-listed spot exchange-traded funds (ETFs) fell out of favor. The leading cryptocurrency by market value fell over 8% to under $62,000, data from charting platform TradingView shows. That’s the biggest single-day percentage (UTC) decline since Nov. 9, 2022. That day, prices tanked over 14% as Sam Bankman Fried’s FTX, formerly the third largest crypto exchange, went bankrupt. Bitcoin’s latest price slide has been catalyzed by several factors, including outflows from the spot ETFs, according to trader and economist Alex Kruger. Provisional…