Kategorie: Bitcoin News

• Binance Labs invests in BounceBit for Bitcoin restaking and CeDeFi innovations.
• BounceBit integrates CeFi and DeFi empowering BTC beyond traditional value storage.
• BounceBit’s dual-token system enhances security, transparency, and network utility for Bitcoin.

In a strategic move aimed at expanding the utility of Bitcoin, Binance Labs, the venture capital and incubation arm of Binance, has announced its investment in BounceBit.

This collaboration signals a significant step towards redefining Bitcoin’s role beyond traditional storage, leveraging innovative approaches like Bitcoin restaking and CeDeFi protocols.

BounceBit empowering Bitcoin with CeDeFi integration

BounceBit emerges as a groundbreaking initiative, spearheading the evolution of Bitcoin’s role in the digital ecosystem. It introduces pioneering concepts such as Bitcoin restaking and the fusion of centralized finance (CeFi) and decentralized finance (DeFi) principles.

At its core, BounceBit emphasizes asset-driven empowerment for Bitcoin, refraining from altering the underlying Bitcoin blockchain. By seamlessly integrating strategies like funding rate arbitrage and on-chain certificates issuance, the platform transforms Bitcoin into a dynamic force within the ecosystem.

Led by a team with diverse expertise spanning decentralized finance, traditional finance, and Layer 1 blockchain technology, BounceBit prioritizes security and transparency.

Through regulated custody and Multi-Party Computation (MPC), alongside innovative solutions like Mirror X and off-exchange settlement (OES), BounceBit’s platform ensures a secure environment for Bitcoin engagement in yield-generating activities.

BounceBit’s Bitcoin restaking initiative

A key innovation introduced by BounceBit is its unique Proof of Stake (PoS) Layer 1 ecosystem. This ecosystem incentivizes validators to stake both BounceBit tokens and BTC, fortifying network security and directly involving BTC in network operations.

Through restaking Bitcoin across multiple systems like oracles and bridges, BounceBit aims to enhance the security and operational efficiency of the network.

The platform’s commitment to developing a robust restaking infrastructure is evident, as it leverages a dual-token system and a combination of CeFi and DeFi frameworks.

By providing a secure and transparent environment, BounceBit empowers BTC holders to explore new avenues for yield generation across various networks.

With a focus on innovation, security, and transparency, BounceBit is poised to revolutionize the landscape of Bitcoin restaking and CeDeFi, paving the way for enhanced utility and accessibility in the digital asset space.

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• Bitcoin price forecast points to a possible $82,000.
• Ten days remain to the much anticipated Bitcoin halving event.
• Kangamoon, a new meme coin, has raised over $4M in its ongoing presale taking advantage of the crypto hype created by Bitcoin’s price surge

Bitcoin (BTC) has been making significant waves in the cryptocurrency market, with its price breaching the $72,000 mark again today.

BTC’s price surge comes amidst a backdrop of growing optimism and speculation surrounding the future trajectory of the leading cryptocurrency as new coins like Kanagamoon come up.

Analysts have been closely monitoring Bitcoin’s price movements, offering forecasts and insights into where it might head next.

Bitcoin price forecast

In recent months, Bitcoin has defied expectations, rallying from lows of $15,000 at the end of 2022 to its current highs. This remarkable price surge has sparked wild speculation among traders and investors, with some predicting that Bitcoin could be in for its biggest month ever.

However, despite the bullish momentum, there are lingering concerns among some market participants, including Federal Reserve officials like Neel Kashkari, who have expressed worries about Bitcoin’s price volatility.

At its current price of $72,354, Bitcoin (BTC) has more than doubled its price since the end of 2023. At first, the rally was pegged on the approval of spot Bitcoin ETFs by the U.S. SEC. The impact of the ETFs was so strong especially following the outflow of BTC from crypto exchanges as the ETFs took up much of the bitcoins from the market creating a supply crunch.

Additionally, factors such as the upcoming Bitcoin halving event and increased institutional interest in the cryptocurrency market have also been potential catalysts for driving BTC’s price appreciation.

But even as the BTC price appreciates, analysts have been skeptical with some pointing out that Bitcoin’s price could experience a pullback in the near term, potentially revisiting levels around $60,000 before rallying back to its recent peak of $73,777 or even higher.

While this pattern of pre-halving dips is not uncommon in Bitcoin’s price history, and it is often followed by a continuation of the primary uptrend, it seems Bitcoin has already hit bottom in its recent pullback and is now prepared to set a new all-time high (ATH), as we enter the halving eve.

As depicted by Thomas on X, Bitcoin’s halving event has always spurred BTC to register new highs

Who needs to see this? #Bitcoin pic.twitter.com/oE6BBX2pGn

— Thomas | heyapollo.com (@thomas_fahrer) April 8, 2024

According to Jelle’s Bitcoin price prediction, BTC could easily hit $82,000 if it successfully breaks through the current wedge.

#Bitcoin is breaking out from the bullish pennant! 👀

We’re looking at a target of $82,000 from here. 📈 pic.twitter.com/2SYiYxtHAW

— Jelle (@CryptoJelleNL) April 8, 2024

Kangamoon: SocialFi and Play-to-Earn merge

As Bitcoin prespare for pre-halving cycle, Kangamoon is emerging as a notable project that aims to revolutionize the way users interact with memes and earn rewards.

Kangamoon is building a vibrant community of meme enthusiasts while integrating elements of SocialFi and Play-to-Earn (P2E).

At the heart of the Kangamoon project is its native token $KANG,which iscurrentlyin the presale stage.

The platform offers users the opportunity to engage in various activities, including assembling champions, participating in epic battles, and betting on favorite fighters to earn $KANG tokens and exclusive rewards.

$KANG is an ERC-20 token on the Ethereum blockchain, with a maximum supply of 1 billion tokens. Users can claim their $KANG tokens following the conclusion of the presale event, with details about the token claim process available on the Kangamoon website, social media channels, newsletter, and Telegram community.

Kangamoon’s unique social-fi model incentivizes active participation, with users competing in weekly, monthly, and quarterly challenges to earn $KANG and other rewards.

Kangamoon presale

In the ongoing Kangamoon presale, the project has raised an impressive amount, totaling $4,384,434.039.

With 15.3% of the tokens already sold, there is still 84.7% remaining for potential investors to participate in the presale event.

The current presale stage offers a 10% bonus on all purchases, providing an attractive opportunity for early supporters to acquire $KANG tokens at a favorable price point of $0.0196 per token.

The presale phase is a crucial step in Kangamoon’s journey, as it enables the project to secure funding and build momentum ahead of its official launch. As the project progresses through its roadmap milestones, including the development of the Kangamoon Play-to-Earn Arcade and the launch of the Kangamoon P2E website and app, investors and enthusiasts are eagerly anticipating the next stages of Kangamoon’s evolution.

Conclusion

Bitcoin’s price continues to capture the attention of the cryptocurrency market, with forecasts suggesting further upside potential. And at the same time, Kangamoon is carving out its niche in the industry, offering a unique blend of meme culture, social finance, and play-to-earn mechanics to create an engaging and rewarding experience for users.

As both Bitcoin and Kangamoon navigate their respective paths, investors and enthusiasts remain vigilant, eager to seize opportunities and navigate the ever-changing landscape of the cryptocurrency market.

The post Bitcoin (BTC) price prediction after breaching $72k appeared first on CoinJournal.

• Coinbase’s partnership with Lightspark for Bitcoin Lightning Network integration enhances transaction efficiency.
• Lightspark’s advanced technology streamlines Lightning Network access, offering low-cost BTC transfers.
• The collaboration empowers Coinbase with reliable, scalable node infrastructure, driving global financial innovation.

Coinbase, a leading cryptocurrency exchange, has announced a strategic partnership with Lightspark to integrate the Bitcoin Lightning Network.

The collaboration aims to revolutionize the way users conduct Bitcoin (BTC) transactions, offering them enhanced speed and cost-efficiency.

Lightspark, in an exclusive blog post, revealed the culmination of their efforts spanning nearly two years to refine their platform as the premier gateway to the Lightning Network. With Coinbase onboard, clients can now enjoy seamless access to low-cost and almost real-time BTC transfers.

Lightspark’s advanced technology, including its AI-driven smart engine “Lightspark Predict,” optimizes liquidity and routing for maximum efficiency.

Coinbase to retain control over Lightning signing keys

Through Lightspark’s remote-key validation implementation, Coinbase retains control over Lightning signing keys while Lightspark manages the node infrastructure. This ensures a reliable, scalable, and fully optimized node infrastructure for Coinbase users.

Shan Aggarwal, Coinbase’s VP of Corporate & Business Development, expressed confidence in establishing a global financial ecosystem prioritizing efficiency and speed.

The integration signifies a significant stride towards achieving this goal, opening doors to a multitude of payment-related use cases facilitated by Lightspark’s innovative solutions.

Coinbase’s decision to integrate the Lightning Network comes at a time when Bitcoin’s scalability and transaction speed have become critical concerns. With transaction fees on the primary network rising, the Lightning Network offers a promising solution to alleviate congestion and reduce costs.

The move aligns with Coinbase CEO Brian Armstrong’s vision, who previously highlighted the potential of Lightning Network integration.

Founded in 2022 by David Marcus, Lightspark has garnered support from key industry players and investors, positioning itself as a frontrunner in Lightning Network solutions. The partnership with Coinbase further solidifies its standing in the market.

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• Nexo leads 35+ crypto giants in a push for a Bitcoin emoji.
• The ‘Bitcoin Deserves an Emoji’ movement gains traction globally.
• The movement has surpassed 10,000 endorsements.

In a groundbreaking move, Nexo, alongside over 35 major crypto organizations, is spearheading a campaign to establish a Bitcoin emoji.

This initiative aims to solidify Bitcoin’s cultural and technological significance and has already garnered significant traction within the crypto community.

Push for a Bitcoin emoji gains momentum

The ‘Bitcoin Deserves an Emoji’ movement, backed by industry leaders such as Kraken, Brave, and Polygon, is swiftly gaining momentum.

Within just one week, the petition to the Unicode Consortium amassed over 10,000 endorsements, signalling widespread support for the cause. With the goal set at 50,000 signatures, the initiative highlights the unity and strength of the global crypto community.

The push for a Bitcoin emoji reflects the cryptocurrency’s growing prominence and market dominance. Kosta Kantchev, Co-founder & Executive Chairman of Nexo, emphasized the necessity of a universal symbol for Bitcoin, given its significant impact on the global economy and its ever-expanding user base.

Why are organizations pushing for a Bitcoin emoji?

The initiative marks a significant moment in cryptocurrency history, coinciding with Bitcoin’s new all-time highs and the anticipation surrounding the fourth Bitcoin halving.

With over 170 million community members worldwide represented by the participating crypto organizations, the campaign underscores the collective effort to cement the legacy of Bitcoin in the digital landscape.

The quest for a Bitcoin emoji parallels previous endeavours by mainstream brands like Taco Bell and Tinder, demonstrating the crypto community’s commitment to advocacy and innovation. By leveraging social-economic advocacy, the ‘Bitcoin Deserves an Emoji’ movement aims to overcome the absence of a dedicated Bitcoin symbol on digital platforms.

Nexo, recognized as the world’s leading digital assets institution, is at the forefront of driving crypto innovation and through initiatives like Nexo Ventures and the ‘Bitcoin Deserves an Emoji’ campaign, Nexo continues to push boundaries and shape the future of finance.

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• Tether recently committed 15% of its net profit to Bitcoin investments.
• On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2.94B.
• Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

Tether, the leading issuer of USDT, has emerged as the seventh-largest holder of Bitcoin (BTC) after a strategic acquisition of 8,888 BTC on March 31, valued at $618 million.

The latest purchase substantially bolstered Tether’s Bitcoin holdings, bringing the total to 75,354 BTC. The acquisition, executed at an average price of $30,305 per BTC, has proven to be astute, with the market value now standing at $5.2 billion.

CoinStats data indicates an impressive 128% increase in the value of bitcoins in the wallet that made the latest BTC acquisition, translating to an unrealized profit of $2.94 billion.

Tether’s strategic Bitcoin acquisition

Tether’s decision to secure a substantial amount of Bitcoin comes at a time when institutional interest in the leading cryptocurrency has surged.

Fueled by the approval of United States spot Bitcoin ETFs and anticipation surrounding the Bitcoin halving, Tether’s move reflects a strategic response to the evolving landscape of digital assets.

Tether’s ascent to becoming a major Bitcoin holder underscores its commitment to diversifying the backing assets of its stablecoins.

With a declared intention to allocate 15% of its net profit towards Bitcoin investments, Tether aims to strengthen its position within the cryptocurrency market and further solidify its role as a key player in the digital asset space.

This strategic move not only elevates Tether’s standing within the cryptocurrency community but also highlights the growing importance of Bitcoin as a core asset in institutional investment portfolios.

As Bitcoin continues to gain traction as a store of value and an investment asset, Tether’s strategic investment strategy underscores its vision to remain at the forefront of innovation and disruption in the evolving landscape of finance and technology.

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