Monat: Februar 2024

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Bitcoin’s surge to $46.5k sees Stacks and Bitbot soar: What’s next?

  • Stacks (STX) price rose more than 20% to hit highs of $1.87 as Bitcoin hit $46.5k.
  • Bitbot presale surpassed $480k and was eyeing the $500k milestone.
  • Here’s what Bitcoin’s big move suggests for Bitbot, the world’s first non-custodial Telegram trading bot.

The total crypto market cap rose more than 4% to above $1.8 trillion as Bitcoin price spiked past the $46k resistance level on Friday. As the “OG crypto” hit the paces once more, Stacks edged higher amid a double digit surge. Meanwhile, a new wave continued to swell in the shape of the viral presale of crypto token Bitbot.

Stacks (STX) soars as BTC rallies to $46.5k

A new injection of volatility on Thursday saw Bitcoin’s price surge past the $45k level to reach highs of $46,500 across major crypto exchanges. As the flagship crypto pushed higher to target its fifth straight green candle on the daily time frame, Stacks price spiked more than 20% to reach highs of $1.87.

While the gains for STX came as BTC rallied amid upcoming halving sentiment, there’s also been growing adoption across the Bitcoin Layer 2 space. Stacks has seen this via Stacking DAO, which has hit a new TVL milestone of over $35 million.

In an X post, the Stacks team says this is equivalent to having more than 20 million STX tokens unlocked, “ready to fuel the Stacks DeFi ecosystem.”

Analysts have opined that the $800 billion Bitcoin ecosystem is ripe for investors to explore and Stacks could be one of the big players in this quest. As a Bitcoin L2, Stacks enables smart contracts and decentralised apps to come to Bitcoin, leveraging the benchmark blockchain platform’s security.

If Bitcoin sees the anticipated upside, STX price could benefit from its catalysts to target a new peak beyond the $3.39 reached in December 2021.

Bitbot: Bitcoin’s rally cements BITBOT presale momentum

Bitbot is the first non-custodial trading app on Telegram. It’s a huge deal in the sector given recent incidents involving Unibot and Banana Gun – two of the trading bots to see massive traction following their launch.

Other than its MPC custody technology, which is backed by Knightsafe, Bitbot offers access to several institutional-grade tools and feature. While trading, users will have assets in the cold wallets – removing that immediate risk that custodial platforms run by holding onto users’ assets.

Bitbot enhances this focus on security and user safety with its anti-MEV and anti-rug platform solutions. As a trader, you want to know that your trades are not open to MEV bots. You also want 24/7 monitoring against potential scams and rug pulls. Bitbot’s robust security approach provides for this and much more.

As for the trading tools, the gem scanner and sniping tool stand out for what a trader can achieve with them. For instance, one can quickly identify and snipe profitable trades or snap a real presale gem just in time to get the maximum alpha.

Bitbot’s utility token BITBOT offers access to these features as well as a revenue-sharing model that gives a share of all daily revenue to holders. Passive income doesn’t get better than this.

Should you buy Bitbot given the current crypto market outlook?

Crypto trading continues to evolve as the market adopts new technology features, and the use of trading bots is just one such development. Trading solutions on Telegram are also another of the key advances.

Unibot, Banana Gun and PAAL AI are some of the current top trading bots on Telegram. Early adopters of these tokens locked in massive gains. However, none offer the non-custodial feature or advanced, institutional-grade trading tools that have Bitbot standing out.

Also, from an investment point of view, traders may fancy the potential for BITBOT to explode amid its anticipated dominance and Bitcoin’s halving-driven bull rally.  Investors with this outlook are finding the presale potentially more appealing – the likely reason Bitbot presale has stormed to close to $500k in amount raised in just over three weeks.

If you are wondering where you can learn more about this project, join the presale and read their whitepaper.

The post Bitcoin’s surge to $46.5k sees Stacks and Bitbot soar: What’s next? appeared first on CoinJournal.

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Ethereum pumps after Ark Invest and 21Shares’ spot Ethereum ETF application amendment

  • ETH price surged post-Ark Invest, 21Shares ETF amendment.
  • Amendment aligns spot ETH ETF with cash creation and redemption model akin to spot Bitcoin ETFs.
  • The introduction of ETH staking in amended filing remains uncertain pending regulatory approval.

Ethereum’s native token, ether (ETH), experienced a surge in price, reaching $2,457 before retracing to the current price of $2,424, after news of amendments to the joint spot Ethereum exchange-traded fund (ETF) application by Ark Invest and 21Shares.

Ethereum (ETH) price chart

 

The news was another positive development for the Ethereum ecosystem after the Dencun upgrade was successfully deployed on the Holesky testnet.

Amendment to spot Ethereum ETF application

Ark Invest and 21Shares filed an amendment to their joint application for a spot Ethereum ETF, signalling significant updates in their approach.

The amended S-1 filing introduces a cash creation and redemption policy, mirroring the structure of recently approved spot Bitcoin ETFs. This adjustment aims to streamline the creation process, with authorized participants restricted to cash creations and redemptions, excluding in-kind transactions involving ETH.

The move aligns with regulatory expectations and operational efficiency, reflecting the SEC’s preference for cash-based methods seen in spot Bitcoin ETF approvals.

Additionally, the amended filing introduces the possibility of Ethereum staking, with plans to stake ether tokens from the Trust’s Cold Vault Balance. Staking could potentially generate rewards, treated as income, although it carries a risk of loss. However, uncertainty looms over the inclusion of staking in the final proposal, as indicated by bracketed sections in the filing. Bloomberg ETF analyst James Seyffart remains sceptical, suggesting that the SEC might not permit staking in spot Ethereum ETFs.

Market reaction and expectations

The news of Ark Invest and 21Shares amending their spot Ethereum ETF application has stirred mixed reactions among investors and industry observers. While it marks a positive development for spot Ethereum ETFs, expectations regarding approval vary.

With the SEC’s deadline looming on May 23 for a decision on a spot Ethereum ETF, analysts differ in their predictions. Polymarket reports 43% odds of a May approval, while Seyffart suggests a 60% chance. Standard Chartered Bank is very positive of an approval in May, contrasting with TD Cowen’s expectation of no approval in 2024.

Despite the uncertainty surrounding regulatory approval, Ethereum’s price surge indicates investor optimism and interest in the potential launch of a spot Ethereum ETF. Stakeholders eagerly await further developments in the ETH ETF space, closely monitoring regulatory decisions and industry dynamics.

The post Ethereum pumps after Ark Invest and 21Shares’ spot Ethereum ETF application amendment appeared first on CoinJournal.

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Montenegro Court of Appeal revokes Do Kwon’s extradition again

  • Montenegro Court revokes Do Kwon’s extradition, citing procedural violations.
  • Former Terra CFO Han Chang-joon extradited to South Korea after Montenegro sentence.
  • US SEC trial postponed, hinting at legal manoeuvres amidst extradition proceedings.

In a significant turn of events, the Court of Appeals in Montenegro has revoked the decision to extradite Do Kwon, the co-founder of Terra, to South Korea and the United States. This decision follows a series of legal battles and extradition attempts stemming from charges related to the collapse of Terra’s stablecoin. It follows a similar decision by the Appellate Court of Montenegro in November 2023 before the Montenegrin High Court upheld Do Kown’s extradition request for a second time in December.

Meanwhile, Kwon’s former CFO, Han Chang-joon, has been extradited to South Korea, facing potential life imprisonment.

Extraditing Do Kwon incomprehensible

In granting Do Kwon’s second appeal against extradition the Court of Appeal cited significant violations of criminal procedure provisions. The appellate court ruled that the decision to extradite Kwon was incomprehensible and failed to properly handle extradition requests from South Korea and the United States.

The appellate court clarified that extradition decisions should be made by the courts, not the Minister of Justice, as per the Law on International Legal Assistance in Criminal Matters. This decision marks a crucial development in Kwon’s fight against extradition, providing hope for a fair trial and due process.

The case has now been returned to the court of first instance for retrial, indicating a potential reprieve for Kwon in his legal battle.

Former Terra CFO extradited to South Korea

While Kwon’s extradition battle continues, his former CFO, Han Chang-joon, has been extradited to South Korea after serving a prison sentence in Montenegro. 

Chang-joon, arrested alongside Kwon in March 2023 while attempting to leave the country, now faces potential life imprisonment in South Korea. His extradition underscores the severity of the legal consequences tied to the Terra-LUNA crisis, which rocked the crypto market with a staggering $60 billion collapse.

In parallel, the postponement of the civil trial brought by the US Securities and Exchange Commission (SEC) against Terraform Labs and Kwon hints at ongoing legal manoeuvres. The delay is likely aimed at facilitating Kwon’s extradition from Montenegro, signalling the complex interplay between legal jurisdictions and regulatory actions.

As Do Kwon’s extradition battle unfolds, the outcome remains uncertain. However, these recent developments underscore the high stakes involved for Kwon, Terra and the broader cryptocurrency industry amidst heightened regulatory scrutiny and legal challenges.

The post Montenegro Court of Appeal revokes Do Kwon’s extradition again appeared first on CoinJournal.

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Ronin Outpaces Solana to Grab Top 3 Daily Active Users; This GameFi Token Will Dominate Industry

If you’re tuned into the crypto scene, you might have heard the buzz surrounding Ronin lately. Ronin has surged ahead, surpassing Solana to claim a spot in the top three for daily active users. Meanwhile, Galaxy Fox is emerging as a formidable contender in the GameFi space, poised to dominate the industry with its innovative approach. 

Let’s delve deeper into these exciting developments and explore why Galaxy Fox is considered one of the best ICO by many, presenting an unparalleled investment opportunity this year. 

Ronin Outpaces Solana to Grab Top 3 Position of Daily Active Users

Ronin is making waves in the cryptocurrency world, swiftly outpacing Solana to secure a coveted spot in the top three list for daily active users. Just recently, Binance announced the listing of $RON trading pairs, sending excitement rippling through the community. The surge in interest saw $RON hitting highs of around $3.51, nearing its previous peak of $4.29 back in January 2022.

The surge in activity of this good crypto to buy coincided with a significant uptick in daily active users on the Ethereum sidechain, specifically tailored for gaming purposes. However, the initial excitement was short-lived as profit-taking ensued, causing $RON’s price to retreat by nearly 20% within hours. Despite this, the Ronin Network remains a pivotal player in the blockchain gaming sphere and much of the lost ground has already been regained.

Designed by Sky Mavis, the creators of the immensely popular Axie Infinity, the Ronin Network was crafted to address the scalability issues plaguing gaming applications on traditional blockchains like Ethereum. Through a hybrid Proof-of-Authority and Delegated Proof-of-Stake consensus model, Ronin ensures rapid validation of transactions while upholding decentralization principles.

What sets Ronin apart is its singular focus on meeting the demands of high-volume gaming applications. In 2021 alone, Ronin processed a staggering 15% of all NFT trading volume, showcasing its prowess in handling the needs of gaming ecosystems.

$GFOX: The GameFi Token That Will Dominate the Industry 

Galaxy Fox is a rising star in the world of cryptocurrencies, securing a spot in the best upcoming ICO list of many investors and analysts. Unlike traditional meme coins that offer little beyond hype, Galaxy Fox blends GameFi elements with a playful nod to meme culture, creating a unique and enticing investment opportunity.

Galaxy Fox breathes new life into the meme ecosystem by introducing innovative features that combine gaming with financial incentives. With a Web3 endless runner game backed by NFTs already in place, the project plans to expand its gaming offerings in the future, promising a diverse and engaging experience for users.

But Galaxy Fox isn’t just about fun and games—it’s also a sound investment. With a 6% buy-and-sell tax policy, revenues generated from transactions are used to fund staking rewards and maintain a marketplace for trading the coolest NFT assets and digital items. This ensures a steady flow of funds to support the project’s development and reward its community members.

As Galaxy Fox gears up for its next presale stage, now might be the perfect time to get involved, as the current stage offers $GFOX at a discounted rate of $0.00198. With over $3.2 million already raised and 98% of the tokens for Stage 7 already sold, things are heating up fast. Don’t miss out on this opportunity to join a project poised for success in the burgeoning GameFi space.

Conclusion

Galaxy Fox stands as a beacon of innovation in the world of the best upcoming ICO, offering both entertainment and financial opportunities. With its unique blend of GameFi elements and meme culture, it’s primed to dominate the industry in the coming years. Visit Galaxy Fox’s website and join their community via Telegram to learn more and get involved in this exciting project.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

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Cardano’s ADA plots bullish patterns amid 25% Altsignals ASI staking rewards

  • 28,989,117 out of 30,000,000 ASI tokens have been staked in the 25% staking reward program.
  • The ASI token grants holders Lifetime memberships, AI Members Club, and community-led governance within the AltSignals ecosystem.
  • Cardano (ADA) plots a descending triangle pattern.

In a groundbreaking move, AltSignals, a prominent player in the trading signals arena since 2017, is revolutionizing its services with the ASI token and ActualizeAI. The ASI token’s presale success and the ongoing ASI staking program have garnered attention, promising exclusive access to cutting-edge AI-driven insights.

At the same time, Cardano’s ADA is catching the spotlight, forming bullish patterns that could lead to a 32% rally. Let’s delve into these developments shaping the future of trading.

AltSignals (ASI) token and the ActualizeAI Ecosystem

At the heart of AltSignals’ AI project is the ASI token, which beyond its role as a financial asset, unlocks a world of exclusive benefits within the AltSignals AI Ecosystem.

Investors holding 50,000 tokens or more gain lifetime membership, securing access to both ActualizeAI and the existing AltAlgo signals service.

For ASI token holders, the AI Members Club presents a unique opportunity. It serves as a forum where members contribute ideas, actively participating in the development of new products. This community-led governance ensures that AltSignals stays true to its ethos and continues delivering valuable products vetted by real traders.

AltSignals’s 2024 roadmap

The roadmap for 2024 outlines AltSignals’ strategic plan, emphasizing key milestones across each quarter.

The implementation of ActualizeAI introduces advanced features, leveraging machine learning, predictive modelling, NLP, sentiment analysis, and reinforcement learning. The goal is to enhance the accuracy of signals, with the initial algorithm using regressive pattern recognition to learn market dynamics.

ActualizeAI’s journey includes predictive modelling tests based on historical data, evolving from simple linear regression to more sophisticated models. Time series forecasting models are on the horizon, promising improved accuracy in predicting future asset prices.

AltSignals ASI staking program

AltSignals, with a proven track record and a thriving community of over 50,000 subscribers, has propelled itself into a new era of trading. The introduction of the ASI token and ActualizeAI signifies a strategic move towards enhanced accuracy and real-time analysis in trading signals.

The completion of AltSignals’ presale marked a significant milestone, raising an impressive $1.8 million.

Currently, AltSignals has opened an ASI staking pool with a 25% reward program with a 3-month staking period and 72-hour staking window. So far, 28,989,117 out of the 30,000,000 tokens have already been staked.

The staking program is open for the next 78 days. To participate, visit the official AltSignals Website.

Cardano (ADA): a potential 32% rally beckons

Cardano’s ADA has recently caught the attention of market analysts, particularly Ali Martinez, who identified a Descending Triangle setup on its daily chart. This bullish pattern, if sustained and ADA closes above $0.53, could trigger a parabolic surge with a target of $0.68 – a 32% potential rally.

Cardano stands out among protocols due to its robust ecosystem fundamentals. Real-world applications, such as the Cardano Light Wallet Lace, showcase its commitment to providing practical solutions.

With a dedicated community of developers consistently upgrading the blockchain, Cardano’s current upward trend might herald a significant growth phase.

Are AltSignals (ASI) and Cardano (ADA) good investments?

Considering AltSignals’ proven success and its strategic shift towards AI-driven trading, the ASI token and ActualizeAI present a compelling investment opportunity. The presale success, ongoing staking program, and innovative roadmap allude to a promising future for AltSignals.

On the other hand, Cardano’s ADA, with its strong ecosystem and bullish patterns, raises interest among investors. The potential 32% rally adds to the appeal.

Both AltSignals and Cardano offer unique propositions in their respective domains, attracting attention from traders seeking innovation and growth in the dynamic world of cryptocurrencies.

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