Day: June 14, 2024

Rebound To End 1-Day Bearish Move?

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Despite the dominant bearish trend in the market, the well-known meme-based cryptocurrency Dogecoin (DOGE) is making an effort to recover. This unanticipated upward trend occurs even though sentiment and general market conditions are still primarily negative. Traders and investors are keeping a careful eye on the situation as DOGE attempts to make up some lost ground, trying to decipher what this possible turnaround might mean. Several factors could be driving this attempt at recovery, including market reactions to news events, changes in investor sentiment, or technical indicators signaling oversold conditions.…

Hunters On-Chain Revolutionizes Blockchain Gaming with NFT Integration

Hunters On-Chain, a blockchain-based battle royale game, is making waves in the gaming world by offering players true asset ownership through non-fungible tokens (NFTs), according to immutable.com. Enter the Hunting Grounds In Hunters On-Chain, players take on the role of elite Hunters tasked with capturing mythical creatures. Each playable Hunter is an NFT, which can be acquired through initial minting, the marketplace, or summoning. With 40 unique classes, players must strategically collect the right Hunters and choose their battles wisely to succeed. The game features…

MicroStrategy ‘building the world’s largest bitcoin company,’ Bernstein says

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MicroStrategy can run another 80% from here thanks to its aggressive bitcoin buying strategy, according to Bernstein. The Wall Street firm initiated research coverage of MicroStrategy on Thursday before the market opened with an outperform rating and a $2,890 price target. That implies upside of another 80% based on the stock’s Wednesday close of $1603.67. By early trading Friday, MicroStrategy was already up 138% year-to-date, morre than double bitcoin’s roughly 57% advance in the same period. “Since August 2020, MSTR has transformed from a small software company to the largest…

MicroStrategy upsizes convertible offering to $700m to buy Bitcoin

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MicroStrategy has revealed the pricing of its convertible senior notes offering of $700 million. The announcement comes a day after the company outlined an initial $500 million offering, with this latest press release noting an upsize to $700 million aggregate principal amount of notes. MicroStrategy expects the offering to close on June 17, 2024. “The notes will be unsecured, senior obligations of MicroStrategy, and will bear interest at a rate of 2.25% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December…

Red Alert For Polkadot (DOT): Double-Digit Drop Sparks Investor Fears

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Polkadot (DOT), the self-proclaimed “King of Interoperability” and once a darling of 2021’s bull run, is currently trading around $6.42, a far cry from its November 2021 peak of nearly $60. A flicker of optimism about DOT remains despite the general bearish outlook, as technical analysis points to a potential price turnaround in the horizon. Falling Wedge Hints At Bullish Breakout Technical analysts are a breed known for their fascination with squiggly lines and cryptic patterns. However, for some Polkadot investors, these lines might hold the key to future gains.…

Chinese public telecom provider Coolpad Group allocates $13.5m to buy Bitcoin mining rigs

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Shenzhen-headquartered telecommunications equipment company Coolpad Group has announced the purchase of $13.5 million worth of crypto mining rigs. Coolpad Group, a public Chinese telecom provider listed on the Hong Kong Stock Exchange, said in a regulatory filing it has allocated over HK$106 million (around $13.5 million) to purchase Bitcoin mining rigs as the firm now “actively pursues opportunities in web 3.0 digital currency business.” As per the document, Coolpad plans to acquire 2,700 crypto mining rigs from Hong Kong-based JingYun Intelligent Technology Limited, with deployment slated for North America. The…

Bitcoin (BTC) Price Struggles Near $67,000 as Cryptos Lag Behind Stocks

Bitcoin will hit $1 million within 10 years, brokerage company Bernstein said while setting a massive price target for MicroStrategy. BTC, the largest and oldest crypto asset, could reach a cycle-high of $200,000 by 2025 en route to the 2033 forecast. The firm also initiated coverage for Michael Saylor’s MicroStrategy (MSTR), the biggest corporate owner of bitcoin, setting a price target of $2,890 per share with an outperform rating. That would translate to an almost 100% rally for the stock, which closed Thursday at $1,480. Source