Monat: Mai 2023

• Bit Digital share price has been in a strong bullish trend this year.

• It has soared by more than 375% from the lowest level in December.

Bit Digital stock price jumped on Thursday as cryptocurrency prices drifted upwards. BTBT stock has jumped by more than 375% from the lowest level in December, making it one of the best-performing companies in the industry. 

Bit Digital new machines 

Bit Digital is a relatively small Bitcoin mining company with a market cap of over $195 million. It competes with the likes of Marathon Digital and Riot Blockchain among others. The firm also provides Ethereum staking solutions. 

BTBT shares have done well this year, helped by the strong performance of Bitcoin and other cryptocurrencies. In most periods, mining companies have a close correlation with the price of Bitcoin. 

The most recent Bit Digital news is that the company is considering expanding its mining operations in Iceland. The CEO told Wall Street Journal that the firm had acquired another 5,000 machine to diversify its mining operations. 

Like other companies in the cryptocurrency industry, Bit Digital is concerned about the lack of regulatory clarity in the United States. With no explicit regulations, the Securities and Exchange Commission (SEC) and the CFTC have decided to govern by lawsuits. 

At the same time, the Biden administration is considering raising taxes for companies in the industry. A paper by the Treasury Department recommended raising taxes by letting mining companies pay 30% of their total power consumption. 

After launching the new mining machines in Iceland, Bit Digital will generate most of its revenue in the country and in Canada.

The BTBT stock price is also rising because of the performance of Bitcoin prices. BTC jumped to a high of $27,205, higher than this week’s low of $25,500.

Bit Digital stock price forecast 

Turning to the daily chart, we see that the BTBT share price has been in a strong bullish trend in the past few months. It has managed to move above the key resistance level at $2.11, the highest point on July 21st last year. 

Bit Digital has also moved above all moving averages while the Klinger Oscillator has drifted upwards. The momentum oscillator has continued rising. Therefore, the stock will likely continue rising as buyers target the next key resistance point at $3. A drop below the key support level at $2.11 will invalidate the bullish level

The post BTBT stock price outlook as Bit Digital expands in Iceland appeared first on CoinJournal.

• EU regulators have approved MiCA regulations

• MiCA could pave the way for innovative crypto projects to prosper

• MCADE price has retreated, although it could rise 10 times

Europe’s first comprehensive rules for crypto regulation are fast becoming law. Regulators in the region approved the Markets in Crypto-Assets (MiCA) rules on May 16 in what is seen as the first step towards getting crypto into a legal framework. Analysts think MiCA is a good development for crypto and will usher in a new era of quality investments. That comes even as Metacade grows popular among investors. With upcoming regulatory changes, the potential for innovative projects with solid use cases like Metacade to flourish is so high.

The MiCA regulations and what it means for crypto

MiCA rules are expected to be implemented beginning in 2024. It will compel firms that trade, issue, and hold cryptocurrencies, stablecoins, and tokenized assets within the EU to have a licence. According to Sweden’s finance minister Elisabeth Svantesson, MICA will protect the EU citizens who have invested in digital assets. That comes amid recent market events and the susceptibility of crypto to abuse.

Of essence is also the desire of the European authorities to foster innovation and make the crypto-sector attractive. In other words, MiCA doesn’t intend to stifle crypto but promote it. That defeats fears over the potential for regulators to stifle or ban crypto. 

What is Metacade, and why has it been a sensation?

Metacade is a Web 3.0 community hub for gamers. The platform is built on the Ethereum network. Web 3.0 gaming and blockchain enthusiasts can interact, connect, and share exciting experiences and earn through GameFI initiatives. With a fun and exciting virtual hangout for gamers, Metacade also seeks to become the ultimate gateway to the Metaverse world.

Metacade became a sensation when it launched, with its presale selling out quickly, thanks to a strong community of Web 3.0 gamers and investors. In particular, investors are attracted to the gamefi economics of the platform, which seeks to make Metacade a self-sustaining arcade. Investors can speculate on the native token MCADE or stake it for passive income. By owning MCADE, investors have exclusive access to the Metacade platform, including participating in various earnings opportunities.

Some of the features that have made Metacade popular include its Play2Earn, Create2Earn, and Work2Earn opportunities. It means investors can compete in games, contribute to the community hub, and take gig jobs to boost their income base.

To make Metacade self-sustainable, the network has revenue streams from advertising on the platform, job listing, launchpad, and game testing. In the future, Metacade aims to be community-led, with plans to adopt a DAO structure by the second quarter of 2023.

The future of Metacade and how it could benefit from positive regulation

Investors would be excited that Metacade is launching when there are increased calls for regulating the crypto sector. Innovative projects of the kind of Metacade have been longing for this. 

As regulations set in, investors would feel safe investing in novel projects with the potential for long-term success. That’s because regulation would clear the uncertainty that has beset crypto projects. It would set a trend where only projects that make a positive contribution to its investors survive. 

With Metacade regarded as one of the most sustainable Web 3.0 and blockchain projects, investors could reap big in a regulated environment. Coupled with a strong and projected growth of Web 3.0 games, Metacade success could be huge as crypto gathers momentum.

Is it the right idea to invest in Metacade now?

After a successful presale, Metacade is at the stage of listing on exchanges. It has so far been listed on Uniswap, BitMart, and MEXC Global. The listing was met with glamour, with the price more than doubling in value afterwards.

MCADE has now slowed down and traded at $0.022 at press time. Although this price is still higher than its final presale value of $0.020, it is attractive for early investors. As more listings follow, the price of MCADE could explode, with analysts earmarking a 10x increase by the end of 2023.

The post EU’s move to approve MiCA crypto rules could potentially help projects like Metacade appeared first on CoinJournal.