Monat: Februar 2024

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Pangolin (PNG) price prediction after 234% surge in a day amid Bitcoin Dogs frenzy

  • Pangolin (PNG) surged 234% in 24 hours, hitting $0.31.
  • Technical indicators hint at short-term correction, but bullish momentum persists.
  • Bitcoin Dogs presale raises $4,241 in slightly over a week.

Pangolin (PNG), the native governance token of the Pangolin DEX, has experienced an unprecedented surge, catapulting to multi-month highs amidst a frenzy surrounding a new canine-themed NFT project called Bitcoin Dogs that’s conducting the first of its kind ICO on the Bitcoin blockchain.

The PNG token soared by an astonishing 234% in just 24 hours, reaching highs of $0.31 as trading volume skyrocketed by a staggering 5500% as we had highlighted in our earlier news coverage.

Pangolin (PNG) price chart

 

Pangolin (PNG) price: a thrilling rally

Pangolin’s remarkable price surge marks a significant milestone for the multi-chain DEX platform, which has been gaining traction amidst the backdrop of Bitcoin’s battle to maintain the $50,000 level. The surge in PNG price is a testament to the growing enthusiasm among investors for decentralized finance (DeFi) projects, particularly those driven by community initiatives.

Pangolin’s native token, PNG, has not only seen an extraordinary uptick in price but also in its trading volume. Within a day, the 24-hour trading volume catapulted by an astonishing 5500%, soaring to over $4.7 million. This surge propelled the Pangolin market cap to over $54 million, doubling within a mere 24 hours.

PNG, being 100% distributed to the community without team, advisor, or investor allocations, has attracted a wave of interest, resulting in a substantial increase in daily trading volume.

The recent price explosion for PNG is a departure from its struggles to breach the $0.12 mark since December. It indicates a renewed activity and optimism within the community-driven project, which has been further fueled by a new team taking the reins and outlining an ambitious roadmap for Pangolin’s comeback.

Pangolin price prediction

As PNG continues its upward trajectory, investors eagerly anticipate its future movements. Technical indicators on the 4-hour chart suggest a potential correction in the short term, with the Relative Strength Index (RSI) indicating a cooling of buying pressure. However, the RSI line remains comfortably above its Simple Moving Average (SMA) line, suggesting that buyers still hold strength, leaving room for further upward movement.

Should PNG manage to close the daily candle above the $0.19895 resistance level, it may establish a strong foundation for continued growth in the following 72 hours. Analysts predict that the Pangolin price could go as high as $0.4 by the end of next week if the token maintains the current bullish momentum.

However, failure to overcome this resistance level could lead to a retracement towards the immediate support at $0.13500, potentially pushing the price back into a previous sideways channel.

Bitcoin Dogs frenzy and 0DOG presale

Amidst the excitement surrounding Pangolin’s surge, the crypto community finds itself captivated by the allure of Bitcoin Dogs, an innovative project at the forefront of the blockchain revolution. Bitcoin Dogs offers a unique blend of crypto and canine companionship, where dog lovers and crypto enthusiasts converge to trade, collect, and engage in a barking-good time.

At the heart of the Bitcoin Dogs ecosystem lies the Dogaverse, a virtual playground where users can immerse themselves in a world of playful interactions and rewarding opportunities. The 10k Ordinals NFT Club adds an extra layer of excitement, allowing users to collect and trade unique digital assets within the Dogaverse.

Currently, Bitcoin Dogs is hosting the 0DOG presale, the first-ever ICO on the Bitcoin blockchain. With prices climbing every 3 days, early adopters have the opportunity to secure their piece of the Bitcoin Dog pie at a favourable rate. The presale has already raised a staggering $4,241,493.33, with investors eagerly anticipating the next stage price of $0.0251.

To participate in the Bitcoin Dogs ICO, visit the Bitcoin Dogs website to purchase a share of the 810 million 0DOG tokens available for the presale.

The post Pangolin (PNG) price prediction after 234% surge in a day amid Bitcoin Dogs frenzy appeared first on CoinJournal.

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Gauntlet ends Aave partnership over DAO governance disputes

  • Gauntlet terminates 4-year partnership with Aave due to DAO governance challenges.
  • Gauntlet was Aave’s Risk Steward.
  • Aave now faces the task of finding a new Risk Steward after Gauntlet withdraws.

In an announcement made by Gauntlet co-founder John Morrow in an Aave forum post, Gauntlet, a prominent blockchain risk management firm, has terminated its four-year partnership with Aave, the leading decentralized lending platform managed by Aave Companies that recently rebranded into Avara.  

Gauntlet’s decision, attributed to governance challenges within Aave’s decentralized autonomous organization (DAO), marks the end of a collaboration aimed at enhancing the safety and efficiency of the platform.

DAO governance disputes

Gauntlet’s role as a Risk Steward for Aave involved monitoring and analyzing protocol parameters to ensure the platform’s security.

However, according to Gauntlet co-founder John Morrow, navigating the inconsistent guidelines and objectives of Aave’s largest stakeholders became increasingly difficult over the past year. Despite Gauntlet’s efforts to contribute to Aave’s growth, the partnership was ultimately dissolved due to unresolved governance issues within the DAO structure.

Implications for Aave 

As one of the largest decentralized lending platforms, Aave relies on its community of token holders to make crucial decisions through voting. The termination of Gauntlet’s partnership underscores the challenges inherent in decentralized governance, particularly in managing expectations and aligning objectives among stakeholders.

With Gauntlet withdrawing from its role as Risk Steward, Aave now faces the task of finding a suitable replacement to fulfil its risk management needs.

The announcement has elicited varied reactions within the Aave community, with some expressing disappointment at the breakdown of trust between Aave and Gauntlet. Ernesto Boado, Aave’s former CTO, voiced concerns over the termination of the partnership midway through its engagement.

The development prompts reflection on how DAOs and their partners collaborate, negotiate, and manage expectations in the rapidly evolving DeFi ecosystem. Moving forward, stakeholders may seek to establish clearer communication channels and governance frameworks to prevent similar disputes and ensure the long-term sustainability of decentralized platforms like Aave.

The post Gauntlet ends Aave partnership over DAO governance disputes appeared first on CoinJournal.

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Siacoin (SC) spikes to 2-year high amid boost in investor confidence

  • Siacoin (SC) price rose to above $0.02, its highest level since December 2021.
  • SC, the native token of decentralized cloud storage platform Sia, was up 55% in the past week and 120% up over the past two weeks.

Siacoin (SC) rose to its highest level since December 2021, breaking above $0.02 to mark a two-year high.

SC, the native token of decentralized cloud storage platform Sia, was among top performers on Friday. With SC/USD changing hands near the intraday highs, the double-digit gains pushed Siacoin’s market cap to above $1 billion. Per CoinMarketCap, Siacoin ranked 70 among largest cryptocurrencies by market cap at the time of writing.

Today’s gains have pushed the weekly upside for the altcoin to 55%, while it’s 120% up over the past two weeks.

Why is Siacoin price up today?

Siacoin’s gains, which put it among top gainers on the day alongside Avalanche DEX platform Pangolin (PNG), comes amid renewed confidence in the future of the project.

A recent update from the Siacoin Foundation injected optimism within the Sia community. According to the platform’s February 2024 update, there’s a lot in the pipeline for the Sia network.

Key milestones set to enhance network stability and performance include an upcoming hardfork dubbed Utreexo. The implementation for the hardfork as set in the RHP4 aims at enhancing network scalability and efficiency.

As SC price rose, the amount of short liquidations increased. According to data from Coinglass, the last 24 hours had seen a total of over $64k in shorts liquidated.

Meanwhile, Open Interest has increased 21% to $12.77 million amid the buy pressure.

The post Siacoin (SC) spikes to 2-year high amid boost in investor confidence appeared first on CoinJournal.

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Pangolin (PNG) soars, 24-hour volume up staggering 5500%

  • Pangolin, a multi-chain DEX platform, has surged to multi-month highs.
  • PNG price reached highs of $0.31 as new team outlined comeback roadmap for the DEX

Pangolin (PNG), an Avalanche decentralized exchange (DEX) platform, is experiencing a price uptick as major altcoins struggle amid Bitcoin’s battle to keep the $50,000 level.

PNG is the native governance token of the Pangolin DEX. It is 100% distributed to the community with no team, advisors or investor allocations. The multi-chain DEX platform launched on Avalanche in 2021.

Pangolin (PNG) price soars

PNG rose more than 200% on Friday to trade at highs of $0.31 as 24-hour trading volume jumped to over $4.7 million. The surge in daily trading volume over the past day represents a staggering 5,500% increase, according to data from CoinMarketCap.

The Pangolin market cap has jumped to over $54 million, doubling over the past 24 hours.

Why is Pangolin price skyrocketing?

Gains for PNG price almost entirely constitute this past week’s upside, with the token having struggled to break above $0.12 since December.  

As well as the price, there’s been a rise in activity for the community-driven project. DeFiLlama shows a slight pick in TVL to $31.34 million. Pangolin’s sudden price surge comes as the DEX platform’s new team announced a roadmap aimed at returning it to its “former glory.”

Part of this roadmap includes the unveiling of a new UI/UX, introduction of new pools, token listings and a PangoVerse – a social media platform earmarked for rollout within a year.

Pangolin also announced support for BridgeSwap, bringing asset swaps across Ethereum, Avalanche and Binance Smart Chain to the platform.

The post Pangolin (PNG) soars, 24-hour volume up staggering 5500% appeared first on CoinJournal.

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Reddit adds Bitcoin and Ethereum as retail interest in crypto fuels Bitbot’s presale

  • Reddit investment underlines growing retail interest in crypto.
  • Bitbot empowers retail traders with institutional-grade technology.
  • BITBOT presale has accelerated amid bullish crypto expectations.

Social platform Reddit has been allocating its excess cash to Bitcoin (BTC) and Ethereum (ETH). The revelation came after an initial public filing with the US, sending huge expectations in crypto markets. The cryptocurrency news favours Bitbot.  Bitbot’s presale, which has been in high demand, surged past $672,000 on rising demand. Optimism is that Bitbot might ride the retail interest in digital assets to attain unparalleled success.

Bitbot: The first self-custodial trading bot ignites bullish expectations

Telegram trading bots have been on the rise lately. Their ability to enable seamless buying, selling, and managing of crypto assets makes them preferable to many. As of today, the cumulative trading volume on Telegram bots has exceeded $9 billion. The volumes are not by accident.

Telegram trading bots like Bitbot pull retail and institutional investors alike. This has enabled them to have a high demand, fueling price rallies whenever they are launched.

Since launching a presale, Bitbot has drawn huge predictions as the first self-custodial trading bot. It should be recalled that successful trading bot tokens like Banana Gun and Unibot have suffered exploits. The exploit emanated from their security measures, in which users do not control their private keys and funds.

Bitbot’s bullish predictions emerge from the popularity of trading bots and its superior security measures. With a self-custodial feature, users have total control of their funds through ownership of private keys. Investors wary of the predecessors’ vulnerabilities are excited that this token fills a crucial gap and need. 

In addition to being self-custodial, vulnerability at Bitbot is prevented through continuous monitoring. The project’s security is enhanced with anti-EV Bots that continually block potential attackers. This is complemented with anti-rug features. The improved security cements Bitbot as the best Telegram trading bot, as exploits are kept at bay. 

Reddit’s investment in BTC and ETH fuels retail crypto frenzy

Reddit is a platform popular with retail traders. Notably, events like the GameStop mania and AMC stock surge were fueled by retail frenzy on Reddit. The interest in crypto, thus, elicits favourable reactions among retail investors keen on the platform’s crypto endeavours.

Although the investment amounts are stated as “immaterial,” it highlighted a belief in crypto and its future. Reddit believes blockchain and crypto carry huge potential, hinting at further exploration of the sectors. The social media giant also said it is exploring Ether and Polygon as a form of payment for some virtual goods.

Coincidentally, Bitbot stands to benefit as Reddit explores crypto. Bitbot is coined from a simple logic that retail investors need the tools and resources to succeed in trading. The platform offers institutional-grade technology and resources that retail investors lack. The aim is to equip them with the know-how in crypto markets, making the platform attractive. Reddit users, comprising the majority of the retail cohort, stand to gain the most. This sets Bitbot for potential speculation, demand, and price discovery.

BITBOT: Multiple utility token for highly profitable crypto trading

Bitbot is ready to supercharge investors’ earnings. The project is hyped for its attractive perks that include airdrops for token holders. As investors look forward to these airdrops, the platform will see increased inflows and growth.

Investors have also rushed to acquire BITBOT on presale to benefit from its revenue share program. This is where token holders are rewarded with a share of the fees charged. As the platform grows, investors benefit from increased allocations. This utility adds to a rise in the number of investors buying BITBOT for passive income.

BITBOT has also been attractive to novice investors. The platform features a copy trading function. You can copy the trades of experienced traders and learn from them. Coupled with various tools to learn about trading, novice investors face low barriers of entry. The enormous promise draws investors eager for a share of the token before it debuts on exchanges.

Should you invest in Bitbot in presale?

Bitbot’s presale occurs in just 15 stages and is currently in the 4th stage. 20,000,000 are offered, with each price stage marked with a 5% token price increase. Early presale investors benefit from the attractively priced tokens, and potential value increases after listing.

To learn more and purchase BITBOT tokens, visit the official website.

The post Reddit adds Bitcoin and Ethereum as retail interest in crypto fuels Bitbot’s presale appeared first on CoinJournal.