Monat: April 2023

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Ether price closes in on $2k following the Shanghai upgrade

Key takeaways

  • The Ethereum network completed the Shanghai upgrade on Wednesday, allowing users to unstake their ETH coins.

  • ETH is up by more than 6% in the last 24 hours and is now trading close to the $2k level for the first time this year.

  • Ether is outperforming the other major cryptocurrencies.

Ethereum network completes the Shanghai upgrade

The Ethereum network has completed its long-awaited Shanghai upgrade, ushering in an era of staking withdrawals on the blockchain. 

The Shanghai hard fork was completed at 22:27 UTC and finalised at about 22:42 UTC. The Ethereum community considers the upgrade a huge milestone as it completes Ethereum’s migration to a proof-of-stake protocol. 

Thanks to the Shanghai upgrade, Ethereum users can now unstake their ETH coins on the blockchain. During the Shapella Mainnet Watch Party hosted by Ethereum Cat Herders, Vitalik Buterin, the co-founder of the Ethereum blockchain, revealed that the hardest and fastest parts of the Ethereum protocol’s transition are basically over. 

He added that the Ethereum network will now be focusing on scaling (enabling faster transactions) following this upgrade. Buterin stated that;

“If we don’t fix scaling before the next bull run, we know people are going to be stuck paying $500 transactions. If, on the other hand, we don’t have Verkle Trees before the next bull run, well, things might suck, but you know, it’s a much smaller problem than, you know, $500 transactions, right?”

Ether closes in on the $2k psychological level

Ether, the native coin of the Ethereum network, has been rallying following the Shanghai upgrade. ETH is up by more than 6% in the last 24 hours and is closing in on the $2k level.

At press time, the price of Ethereum stands at $1,983, the highest it has reached since August 2022. The technical indicators show that ETH could rally higher in the near term.

ETH/USDT Chart By TradingView

 

The MACD line is within the positive region, indicating that the bulls are currently in charge of the Ethereum market. The RSI of 74 also shows that Ether could enter the oversold region in the near term.

If the bullish trend continues, ETH could break past the $2,031 resistance level over the next few hours. In the event of an extended rally, ETH could trade above the $2,160 level for the first time since May 2022.

Where to buy Ethereum now

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Warren Buffett still sees bitcoin as a ‘gambling token’

  • Bitcoin is up again following the U.S. inflation data on Wednesday.
  • Warren Buffett reiterates that BTC doesn’t have any intrinsic value.
  • BTC is currently up a whopping 80% since the start of the year.

Bitcoin has climbed a whopping 80% since the start of the year but the “Oracle of Omaha” is still not convinced that it’s an investable asset.

Buffett reiterates his view on Bitcoin

Legendary investor Warren Buffett continues to see the bitcoin as “rat poison squared”. Spending money on it, he reiterated today, is more akin to gambling than investment.

Bitcoin is a gambling token and it doesn’t have any intrinsic value, but that doesn’t stop people from wanting to play the roulette wheel.

Buffett is one of the most notable critics of cryptocurrencies at large.

Interestingly, though, his conglomerate Berkshire Hathaway increased its stake just a day earlier in Sumitomo Corp despite the Japanese trading company’s affiliations with Ripple.

Bitcoin is up after the U.S. inflation data today

Bitcoin is trading comfortably above the $30,000 level on Wednesday following the update from the U.S. Bureau of Labour Statistics which confirmed that inflation continued to ease in March.

And Buffett agreed that there’s no telling when the upside will exhaust. On CNBC’s “Squawk Box”, he said:

That’s predicting when speculation will end, when gambling instinct will go away, when more people would want to get out. If I were good at that, I’d make a lot of money in different things.

Remember that the total supply of bitcoin is scheduled to have in April or May of next year – an event that’s historically unlocked more upside in BTC.

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AVAX price outlook: key indicator points to new momentum

  • AVAX is trading around $18.44 and could rally to $30 with fresh upside momentum.
  • On-chain data shows a jump in social volume and sentiment, suggestng uptick in retail activity.
  • Avalanche recorded a 62% jump in daily active users last week.

Avalanche price is up 1.5% at the time of writing, and just over 14% in the past one month. 

While the token of this Ethereum competitor has not seen a major price uptick compared to some of the top coins by market cap, on-chain data suggests a fresh catalyst is likely to see AVAX/USD soar.

Avalanche (AVAX) price- on-chain metrics signal bullish outlook

Avalanche, according to one on-chain metric, is flashing signals of a new upward momentum. Santiment, in a brief assessment of the Avalanche social volumes indicator, says current sentiment for this coin has been higher than when AVAX price rose to its year-to-date highs of $21 in February.

The increase in social volume as well as positive weighted sentiment for Avalanche during the latest pullback provides for a bullish outlook for the cryptocurrency, Santiment noted.

According to the on-chain data platform, AVAX/USD saw “minimal social volume and sentiments were stagnant,” during the run to $21. The difference between then and now is clear in terms of the sharp increase in these metrics.

As such, Avalanche is poised for a potential uptick in retail buying, an outlook that could spell a period of sustained gains for the tokens.

“This is an interesting trend, as social volumes have significantly increased, suggesting a potential leading indicator that will be picked up by retail segment in price movement in coming near future,” Santiment noted as it commented on the price movement of AVAX.

On 10 April, Web3 platform Token Terminal shared details on Avalanche that showed daily active users on the network had spiked by more than 62% over the past week.

Avalanche currently trades around $18.44 and could jump 22% to hit the February peak. The next target would be $30, which would mean a 64% jump from current levels.

The post AVAX price outlook: key indicator points to new momentum appeared first on CoinJournal.

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DigiToads meteoric presale growth reminiscent of Stepn and Aptos

  • DigiToads is an exciting new web3 game that lets you collect, nurture and battle Toad NFTs.
  • The DigiToads presale is in the third stage called “Lilypad 3.’
  • Only 3.92% of the current presale stage remains to be claimed.

The cryptocurrency world is witnessing yet another explosive presale event with DigiToads (TOADS), a DeFi token whose presale has piqued significant interest among crypto enthusiasts and play-to-earn (P2E) gamers in recent weeks. Like Stepn (GMT) and Aptos (APT), two previous presale success stories, DigiToads has seen a remarkable surge in popularity and investment.

The similarities are striking when comparing DigiToads to previous presale success stories such as Stepn (GMT) and Aptos (APT). Just like the two, the DigiToads presale is quickly selling out seeing that its third stage is already 96.08% sold out. You can participate in the presale here.

Stepn and Aptos experienced explosive growth during their respective presales, with investors clamouring to get in on the action. 

Why has DigiToads (TOADS) become so popular?

DigiToads (TOADS) aims to bring together the worlds of NFTs, DeFi tokens, and GameFi through its unique platform that allows users to stake their NFTs in exchange for increased rewards while engaging with the platform’s gaming setup.

The DigiToads presale event, which is almost coming to an end, offers investors the opportunity to purchase the TOADS altcoin at a low price. At press time, one TOADS token was going for 0.016 USD USDT. So far, the presale has reached Stage 3 of the ten planned stages and has raised a whopping $1 million within weeks.

Comparing the DigiToads presale to the Stepn presale?

Stepn (GMT) experienced tremendous growth during its presale stage. 

Stepn is a move-to-earn platform that pays users in either ERC-20 tokens, GMT, or Green Satoshi. Stepn’s presale raked in over $9 million and the price of GMT kept rising throughout the presale period.

There are similarities when comparing the TOADS presale with Stepn’s (GMT) presale growth. The numerous elements, including the potential growth in both tokens and the unique features provided by DigiToads (TOADS) and Stepn (GMT), can be blamed for this rapid rise. Plus, they both used similar marketing techniques to draw interest.

Comparing Aptos Presale to the DigiToads presale

Aptos (APT) is the newest layer one blockchain and it received substantial venture capital backing when it was starting. Many believe this is because it was created by the team responsible for the creation of Meta.

Just like the TOADS token price, the price of APT grew significantly throughout its presale which began in October 2022. The Aptos token has experienced substantial growth with its price increasing from $2 to $10 in just a few months.

Overall, the DigiToads (TOADS) token growth mirrors that of Aptos making it a cryptocurrency to watch in the coming weeks.

Is DigiToads’ TOADS token a good investment?

Well, investing in cryptocurrencies comes with a myriad of risks especially since the crypto market is extremely volatile and the fact that there are many scam projects out here.

However, despite the many challenges, there are still viable crypto projects that investors can cash in although one has to consider a variety of factors before investing his/her hard-earned money.

That said, DigiToads’ TOADS presale could be a good chance for investors to take advantage of the DigiToads projects before it goes mainstream.

The TOADS token is a utility-rich token and its price has been rising during the presale. 

The post DigiToads meteoric presale growth reminiscent of Stepn and Aptos appeared first on CoinJournal.

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WIFI token price surging buoyed by major exchange listing

  • At press time, WiFi Map (WIFI) token was trading at $0.07858, up 15.04% in 24 hours.
  • WiFi Map offers participate-to-earn allowing users to earn tokens for adding hotspots, verifying credentials, and running speed tests.
  • The WIFI token has today been listed on three major crypto exchanges in a week.

WIFI token, the native token of WiFi hotspot platform WiFi Map, has been surging since Tuesday mainly because of the listing on the cryptocurrency exchange Huobi.

WIFI deposits on the exchange started on Tuesday prior to its listing on Wednesday. Huobi traders will be able to trade the WIFI/USDT pair starting today.

The Hobi listing is the third huge listing for the token in one week, following OKX and Gate.io listings.

What is WiFi Map?

WiFi Map is a WiFi hotspot blockchain platform that is powered by the WIFI token, which is an ERC-20 token on Polygon Network.

The platform offers a variety of products including an in-app wallet and participate-to-earn opportunities allowing users to earn tokens for adding hotspots, verifying credentials, and running speed tests.

It also offers an eSIM cashback allowing users to purchase eSIM data and receive 3–5% instant cashback in WIFI tokens. Users also receive a 15–20% token cashback reward for redeeming $WIFI tokens for eSIM data.

WiFi Map also offers Hold-to-earn where users earn eSIM data for holding WIFI tokens.

There is also a WiFi Map DAO that allows the WiFi Map community can decide on the best way to grow the ecosystem.

The post WIFI token price surging buoyed by major exchange listing appeared first on CoinJournal.