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BlackRock’s spot Bitcoin ETF hits a new record trading volume: Will crypto trading volume soar higher?

Key takeaways

  • BlackRock’s spot Bitcoin ETF achieved a trading volume of $1.3 billion for the second consecutive day.

  • BTC touched $57k as Bitbot’s presale approaches $750k

BlackRock’s IBIT trading volume soars higher

Bitcoin has been performing excellently since the start of the week, thanks to BlackRock’s IBIT and other spot Bitcoin ETFs. 

BlackRock’s IBIT recorded a trading volume of $1.3 billion for the second consecutive day. The ETF recorded a trading volume of $1.35 billion on Tuesday, surpassing the $1.3 billion reported on Monday. 

The positive performance also means that BlackRock’s IBIT was the fifth most traded among all U.S.-listed ETFs during the morning hours. The record numbers from spot Bitcoin ETFs continue to show an increasing appetite for Bitcoin by institutional investors.

The rising trading volume could also spill into the crypto market and this is where projects like Bitbot could offer excellent use cases to traders and investors. 

What is Bitbot?

To understand its value proposition to traders, we first have to know what Bitbot is and what it offers. 

Bitbot is a Web3 project that seeks to provide excellent services to cryptocurrency traders. It is a Telegram trading bot that allows traders to gain access to some exciting features that would help them with their cryptocurrency trading journey. 

What makes Bitbot unique is that it is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. The project is leveraging Telegram’s position as a leading social media platform for crypto users.

The team explained that the Bitbot tool will come with several high-end features designed to help traders grow their trading features. These features are usually available for institutional investors but, Bitbot will make it easy for retail traders to use. 

As the trading volume in the crypto market rises, Bitbot will seek to gain massive adoption in the market. Bitbot could provide services to retail and institutional traders in the cryptocurrency market. 

Bitbot’s unique trading features

Bitbot is a Telegram trading tool that will focus on offering tech-savvy features to ease the trading process for users. Per their whitepaper, the development team is working on some features to help traders grow their trading portfolios. 

Bitbot will focus primarily on security. It will leverage the Knightsafe feature to offer a self-custody solution, mitigating the typical risks associated with Telegram trading. Furthermore, Bitbot is also working on deploying its anti-MEV and anti-rug solutions for users to protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

In addition, Bitbot will integrate an ultra-flexible wallet management powered by non-custodial API technology to provide an added layer of security.

To help new traders navigate the market and gain expertise, Bitbot will also launch a copy trading feature. This feature allows novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale approaches $750k

The Bitbot presale is progressing excellently and it is currently in its fourth stage. So far, Bitbot has raised $736k of the required $862 for this stage. 

The growing funding rate shows that Bitbot is attracting interest from investors. Currently, the $BITBOT token is going for $0.0116 but is set to increase to $0.0122 once the fifth round commences.

In its whitepaper, the Bitbot development team clarified that they would hold 20% of the total token supply and would use it to fund ongoing development. Furthermore, 14% of the total token supply is allocated to marketing & CEX listings. Also, another 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Could Bitbot’s token soar higher after presale?

Traditionally, cryptocurrency prices tend to soar higher after presale, after getting listed on cryptocurrency exchanges. So far, Bitbot’s presale is going excellently and its token could rally higher once it gets listed on CEX and DEXs.

With the right level of adoption, Bitbot could be one of the biggest winners in this bull cycle. The project could take advantage of the rising trading volume spurred by the Bitcoin halving and other external factors in the market. 

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Strike expands Bitcoin services to Africa

  • Strike expands Bitcoin services to Africa, addressing financial challenges.
  • Introduction of Strike Africa offers Bitcoin-based solutions in nations with high inflation.
  • The move signifies Strike’s commitment to global financial inclusion and innovation.

Strike, the Bitcoin-focused payments application, is making waves as it extends its full suite of services to the African continent, marking a strategic move to address financial challenges faced by many nations.

In a recent blog post, Jack Mallers, the CEO and founder of Strike, announced the launch of “Strike Africa,” reaching countries including Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia, with plans for further expansion.

Unlocking financial innovation in Africa

Strike’s foray into Africa signifies the company’s commitment to leveraging blockchain technology to provide accessible and efficient financial solutions. With countries on the continent grappling with high inflation rates and devaluing currencies, Strike Africa aims to empower individuals to navigate these challenges by offering services such as buying and selling Bitcoin (BTC) and Tether’s dollar stablecoin (USDT), local fiat currency on-ramps and off-ramps, and global payments utilizing Bitcoin’s Lightning network.

Cryptocurrency adoption in Africa has been on the rise, with Nigeria, the largest market on the continent, experiencing heightened interest. As the Nigerian naira recently plummeted by almost 50% against the U.S. dollar, people are turning to digital assets as a hedge against local currency devaluation. Strike Africa recognizes the immense opportunities for financial innovation and economic freedom on the continent.

Seizing opportunities amidst economic turbulence

Strike’s expansion aligns with a broader trend where Bitcoin and stablecoins are increasingly sought after for savings and remittances in developing countries facing financial instability. The introduction of Strike Africa comes as a response to the specific needs of African nations, providing them with tools to save and build wealth in an environment marked by economic uncertainties.

The move not only caters to the demand for cryptocurrency solutions but also underscores the company’s commitment to being a global player, extending its reach beyond the initial markets in the U.S. and El Salvador. Strike’s approach of offering cost-effective and rapid transactions through Bitcoin’s Lightning network positions it as a potential game-changer in the financial landscape of African nations facing inflation and currency devaluation.

As Strike enters these new markets, it is poised to contribute to the ongoing narrative of financial inclusion, providing individuals in Africa with the means to navigate economic challenges and explore innovative avenues for wealth creation.

The journey into Africa is not just a strategic expansion for Strike but a step towards fostering economic empowerment in regions that stand to benefit significantly from the intersection of technology and finance.

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PEPE jumps 54% to lead meme coins as cryptocurrencies rally

  • PEPE price rose more than 50% to lead top meme coins Dogecoin and Shiba Inu.
  • The frog-themed meme token is now above Solana-based Bonk in market cap.

Pepe (PEPE) has had the most bullish reaction to Bitcoin’s massive spike on Monday.

The meme coin, which had taken a backseat as Solana-based meme tokens stole the show in late 2023, has overtaken Bonk (BONK) into third spot among largest meme coins by market cap.

PEPE is outpacing Dogecoin (DOGE) and Shiba Inu (SHIB), the top two meme coins that have posted 24-hour gains of 12% and 14% respectively.

Pepe (PEPE): Is the frog token back?

Dogwifhat (WIF) and Floki (FLOKI) have registered 43% and 35% each in the past 24 hours, still off Pepe’s big move.

PEPE has gained as on-chain metrics suggest a resurgence for the frog meme. In the past week, the token’s holders count has increased from 155,735 on February 24 to over 157,600 on February 27. New holder have increased by nearly 2,000 in just three days.

Interest in the meme coin is also likely down to whale activity, with large accounts holding between $100,000 and $1 million in PEPE showing aggressive buying. Also notably, PEPE is among the tokens Robinhood Crypto recently added for availability in select jurisdictions in the EU.

Binance and a few other top exchanges have also highlighted PEPE, with Binance running a 700,000 PEPE promotion in its Simple Earn program.

Pepe (PEPE) currently trades around $0.0000002488.

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After the Bonk and Floki rally, is Memeinator the next big thing?

Cryptocurrencies continued outperforming other asset classes in the past 12 months as the industry faced numerous tailwinds. Some of these important events were the approval of the first spot Bitcoin ETFs and the rising inflows from institutional investors. Also, there seems to be robust demand for token sales, as evidenced by Memeinator, which has raised over $5 million from investors.

Meme coin tokens have surged

As a result, the total market cap of all digital currencies has surged to over $2.25 trillion, with Bitcoin having a dominant role in the industry. Other big coins like Solana, BNB, Tron, and Avalanche have also done well.

Beneath the surface, several meme coins like Bonk, Floki Inu, Dogecoin, and Pepe have seen robust demand. Data shows that the total market cap of all meme coins has jumped to over $27 billion. Most of these tokens have almost doubled this year. 

There are three main reasons why meme coins have surged this year. First, there are signs that investors have embraced a risk-on sentiment in the market. For example, in addition to cryptocurrencies, key American indices like the S&P 500 and Nasdaq 100 sit at their all-time highs.

Second, the stock and crypto fear and greed index have jumped to the extreme greed zone. In most periods, meme coins do well when a sense of greed is spreading in the market. This happens as investors embrace the so-called animal spirits.

Finally, meme coins have jumped because of the crucial role of retail traders in the market these days. Recent data shows that these traders are causing big moves in both crypto and the stock market.

For example, small companies like Bit Brother and Mullen Automotive have seen robust volume even though they have weak fundamentals. The same is happening in the crypto industry because of these meme coins’ low prices. For example, with just $50, one can buy hundreds of Bonk or Pepe coins.

Memeinator may be the next big thing

Therefore, if you missed the spectacular surge of key meme coins like Pepe and Bonk, Memeinator may be one to consider (not financial advise). 

Memeinator is an upcoming cryptocurrency that has successfully raised over $5 million in its token sale in the past few months. 

The platform aims to conquer the crypto industry by targeting three key industries: gaming, meme coin, and artificial intelligence. 

As its name suggests, and as you can read in this white paper, Memeinator aims to become a leading player in the meme coin industry. It will do that by using the power of its large community of thousands of token buyers.

It also has some AI features at a time when this technology is thriving as evidenced by the strong performance of Nvidia, Arm Holdings, and Soundhound. Most AI tokens like SingularityNET, Fetch.ai, and The Graph have all surged recently. 

Finally, Memeinator will create utility by introducing a game in the ecosystem. This is a big thing since analysts believe that the blockchain gaming industry will be worth billions of dollars in the next decade.

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Cardano unveils Plutus V3 to empower developers 5 days to Pullix presale end

  • Cardano introduces Plutus V3 engine, enhancing smart contract functionalities
  • Cardano (DA) price has surged following the launch of the new engine.
  • PLX token presale coming to an end, with $8,242,734 raised.

Cardano, a leading Proof-of-Stake (PoS) blockchain, has unveiled its highly anticipated Plutus V3 engine, aiming to revolutionize smart contract functionalities and drive developer innovation.

At the same time, Pullix, a new DeFi protocol, is gearing up for the listing of its PLX token on two exchanges once the presale comes to an end.

Cardano’s Plutus V3 Engine

The Plutus V3 engine, introduced by Cardano, is a significant upgrade poised to enhance performance and functionality on its PoS network. The engine is designed to augment smart contract capabilities and is set to drive intrigue among developers seeking advanced blockchain solutions.

The newly launched Plutus V3 engine brings forth enhanced cryptographic capabilities, including optimal algorithm usage, Ethereum porting ability, and sidechain bridging. Notably, the introduction of Sum of Products (SOPs), an efficient data coding method, aims to optimize script size and boost smart contract execution speed on Cardano.

Charles Hoskinson, the founder of Cardano, has expressed optimism about the monumental steps Plutus V3 will bring to the protocol. With a focus on interoperability with other blockchains, Cardano anticipates increased adoption, governance support, and overall network scalability.

Cardano (ADA) price reaction

The unveiling of Plutus V3 has not only sparked excitement among developers but has also led to a surge in the price of ADA, Cardano’s native cryptocurrency. On February 25, ADA witnessed a notable 24% price gain, currently trading at $0.623 with a 4.88% increase in the last 24 hours.

The broader spot Bitcoin ETF hype and sentiments surrounding Cardano Plutus V3 have contributed to this positive movement.

Pullix: innovative ‘Trade-to-Earn’ platform

While Cardano pushes the boundaries of blockchain technology, Pullix emerges on the scene as a new DeFi protocol, introducing a hybrid exchange with a unique proposition — “Trade-to-Earn.” 

At the core of Pullix’s ecosystem is the native token, $PLX, empowering the community to earn a portion of the daily revenues generated by the exchange.

Pullix goes beyond traditional trading platforms by rewarding traders who hold $PLX tokens. A percentage of the daily revenues is used to purchase $PLX tokens from the open market and burn them, effectively reducing the token supply while increasing demand. This mechanism encourages users to hold $PLX, providing them with passive income, trading discounts, and exclusive rewards.

Pullix stands out with a no KYC (Know Your Customer) requirement for its traders. This crypto deposit-only system for payments eliminates the need for extensive documentation, providing a seamless experience for deposits, withdrawals, and trading conditions, including leverage of up to 1000:1.

Pullix emphasizes security with a smart contract that has successfully passed a security audit from Interfi Network. The team plans to lock the liquidity pool for 24 months after the launch, mitigating the risk of a rug pull. The roadmap outlines development plans, including presale launch, license acquisition, and the launch of PLX on various crypto exchanges including UniSwap and BitMart.

PLX token presale

Pullix is currently in the midst of the presale phase of the PLX token, offering an opportunity for early investors to secure its native token at a discounted rate. Currently in the last state christened ‘Bonus Round,’ the price is $0.14 per PLX token. 

Notably, the presale has already raised an impressive $8,242,734, with 86.6% of the total tokens already sold.

Once the presale comes to an end, investors can anticipate the listing of PLX on UniSwap on March 4, 2024, followed by a listing on BitMart on March 7, 2024. Pullix’s decision to list on both decentralized and centralized exchanges demonstrates its commitment to providing diverse trading options for the community.

To participate in the PLX token presale, visit the official Pullix website to purchase the amount of tokens you want.

Pullix token burning and revenue allocation

Pullix plans to buy back and burn PLX tokens, reducing the circulating supply and potentially increasing token value. The buy-back strategy involves allocating a percentage of net revenue, ranging from 10% on forex revenue to 30% on daily Multiples revenue.

PLX holders will have the opportunity to stake PLX tokens in Pullix’s market-making liquidity pool to earn a passive income, with interest rates ranging from 8% to 18% per annum. The interest rate is determined by the lock-up timeframe and withdrawal frequency chosen by the staker.

Conclusion

Cardano’s Plutus V3 and Pullix’s innovative “Trade-to-Earn” platform with the PLX token offer crypto investors a variety of investment opportunities.

Nevertheless, owing to the volatile nature of the cryptocurrency market, investors should exercise due diligence when investing.

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