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BGB price sees uptick after Dragonfly invests $10M in Bitget

  • BGB price rose to highs above $0.42, with current price roughly 20% off all-time highs of $0.51.
  • Dragonfly Capital made a $10 million strategic investment in crypto derivatives exchange Bitget
  • Bitget will use the capital injection to expand its products and promote crypto education.

Bitget Token (BGB) traded higher as the community around the cryptocurrency derivatives exchange Bitget reacted positively to news of a fresh venture capital injection.

BGB price broke to highs of $0.42 after having traded at lows of $0.39 on Monday, with the positive sentiment seeing over $9 million worth of the token traded in the past 24 hours. In terms of price gains, BGB was up 2% and 9% in the past 24 hours and 7 days respectively.

The price of Bitget’s native token, currently above $0.41, is about 2% off the all-time highs above $0.51 reached on 18 February. If sellers take the $0.40 support, BGB could revisit the $0.31 region

Dragonfly invests $10 million in Bitget

Dragonfly, a crypto-focused venture capital firm that invests in projects in the digital assets ecosystem – from seed to series D – announced a $10 million strategic investment in crypto platform Bitget. 

Blockchain data and research platform Nansen highlighted on 4 April that a Dragonfly wallet had received 60,219,900 $BGB (approximately $24 million) a few days ago, suggesting this could be part of the deal.

The investment will support the crypto derivatives exchange’s market and service expansion across the globe, Dragonfly said in a press release. The funds will also go into Bitget’s CSR initiatives as the platform looks to promote crypto education and adoption.

“As the fastest-growing exchange in the past 12 months, this investment is a recognition of our focus on BUIDL in the bear run. Except for the cash inflow, what will benefit us more from the Dragonfly partnership is their crypto savvy and insights. Together, we will be able to discover more growth opportunities and contribute more to the sustainable growth of our industry,” Gracy Chen, the Managing Director of Bitget said.

The investment also comes as Bitget looks to double down on its efforts across spot trading, launchpad, and earning products. 

Bitget recently partnered Space and Time to provide full transparency to its proof of reserves and also has partnerships with soccer star Lionel Messi and Italian football giants Juventus.

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AI platform adds Polygon (MATIC) to predictive forecasting software

  • Vantagepoint AI is a predictive forecasting platform for stocks, Forex and crypto.
  • The US-based platform has added support for Polygon (MATIC).
  • The AI platform says its predictive forecasting boasts accuracy levels of 87%.

Vantagepoint AI, a US-based artificial intelligence platform offering predictive forecasting for stocks, cryptocurrencies and Forex among others, has added support for Polygon. 

MATIC is the native cryptocurrency token of the Ethereum scaling protocol.

AI-powered software increasingly popular

A press release the company published on Wednesday noted that the integration of MATIC to the platform will ensure traders benefit from highly accurate forecasts. AI-powered software is increasingly becoming popular as digital currencies gain mainstream adoption, the firm noted.

And as market trends for crypto assets getting increasingly complex to predict, a degree of higher accuracy could benefit traders keen on the growing market. In this case, Vantagepoint AI says its software’s predictive forecasts boast of up to 87.4% accuracy.

Vantagepoint AI president Lane Mendelsohn commented: 

“Although trading always involves some level of risk, our aim is to empower traders to make well-informed decisions with more confidence through our data-driven forecasts generated by artificial intelligence.”

The post AI platform adds Polygon (MATIC) to predictive forecasting software appeared first on CoinJournal.

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MicroStrategy adds 1,045 BTC to bring Bitcoin stash to 140,000

  • MicroStrategy is the world’s largest public holder of Bitcoin.
  • Documents show the company recently bought another 1,045 BTC for $29.3million, days after purchasing 6,455 BTC for $150 million.
  • MicroStrategy now holds 140,000 bitcoin acquired for $4.17 billion at an average of $29,803.

In MicroStrategy news today, the company has announced the purchase of an additional 1,045 bitcoin acquired for $29.3 million.

The Bitcoin was acquired between March 24, 2023 and April 4, 2023, according to details in the Form 8-K filing on 5 April, with the firm now holding a total of 140,000 BTC.

MicroStrategy buys bitcoin after US government sells 9,861 BTC

MicroStrategy’s latest purchase comes less than two weeks after MicroStrategy founder Michael Saylor announced the business intelligence software firm had acquired 6,455 BTC for $150 million. That purchase was made at an average of $23,238 a coin and saw the world’s largest public holder of Bitcoin bring its total holdings to 138,955 BTC.

On Wednesday, Saylor announced the company had bought the 1,045 BTC at the average price of $28,016 per coin. The US-based company now holds 140,000 BTC acquired for approximately $4.17 billion and at an average price of $29,803 per BTC.

MicroStrategy has added to its bitcoin stash regularly since 2020, with many purchases completed during price dips. This most recent purchase notably happened a few days after the US government sold over $215 million worth of BTC.

As CoinJournal reported last week, the US government said it sold 9,861.17 BTC connected to the closed darknet market Silk Road on 14 March. The US also announced plans to sell an additional 41,490 BTC in four batches throughout 2023, with the total sales amounting to 51,351 bitcoin that was seized James Zhong.

Bitcoin was trading around $28,497 at 9:26 am ET on Wednesday, up 84% year-to-date. The MicroStrategy stock closed near $299 on Tuesday, with MSTR up more than 105% YTD.

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Jasmy price is crawling back: How high can Japan’s Bitcoin go?

Jasmy price drifted upwards on Wednesday as cryptocurrencies attempted to bounce back. The token jumped to a high of $0.0054, the highest point since March 14. It has bounced back by 20% from the lowest point in March.

Latest JasmyCoin news?

The most recent Jasmy news came in earlier this month when the developers announced a list of developers who will receive its grants. The developers received applications of over 100 creators and shortlisted the 6 most promising ones. 

In a statement, the developers noted that JVP Protocol, Clic, Pedao, Metas, Connected2Me, and Mars Search will compete for the funds. These dApps are all diverse. 

For example, Mars Search is a Web3 search engine that provides users with vertical content. It is similar to other popular search engines, with the main difference being that it focuses on crypto content. A search on Trump shows results on associated NFTs.

On the other hand, Pedaoisan NFT mortgage and loan agreement platform uses a mode known as peer-to-pool. The idea is that users can use it to obtain loans by mortgaging their non-fungible tokens. JVP Protocol is a governance aggregator that aims to maximize users’ rewards and aggregate governance behind the JVP token.

The Jasmy grant program hopes to grow the network’s ecosystem as it seeks to compete with other popular chains like Ethereum, Solana, Cardano, and Polkadot. In the past few months, more developers like Algorand and Avalanche has unveiled their grant programs in a bid to grow their networks and attract more developers. Jasmy’s grant program has a cap of $2 million.

According to the grant’s website, most users have voted for JVP Protocol, which has received 10010 upvotes. Clik has just 20 upvotes while the rest have none.

Jasmy Coin price prediction

Jasmy chart by TradingView

The daily chart shows that the Jasmy price has been in a tight range in the past few days. In this period, it has managed to move from a low of $0.0043 to a high of $0.0054. It has managed to move above the 50-period moving average while the Relative Strength Index has drifted upwards. 

Therefore, it seems like Jasmy has botttomed, which will likely see it rise to the next key resistance point at $0.0065. A move below the support at $0.0043 will signal that bears have prevailed. This will in turn push it to the next support at $0.0040.

How to buy JASMY

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy JASMY with Coinbase today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy JASMY with KuCoin today

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