Should you buy Block stock on a boost to bitcoin revenue in Q1?

  • Block didn’t see an impairment loss on its bitcoin holdings in Q1.
  • Analysts at KeyBanc continue to see upside in its shares to $85.
  • Block stock is currently down about 5.0% versus the start of 2023.

Block Inc says it did not see an impairment loss related to its bitcoin hoard in the first financial quarter. Shares are trading up in extended hours.

Bitcoin price recovery helped

The surge in BTC this year pushed the fintech company’s bitcoin revenue in Q1 to $2.16 billion – up 18% sequentially and a whopping 25% versus the same quarter last year.

Gross profit from bitcoin holdings also increased 43% versus the previous quarter, as per its letter to shareholders. Block generated $770 million of total gross profit in its recently concluded quarter – up 16% on a year-over-year basis.

The fair value of its position in bitcoin was $229 million as of March 31st versus the original purchase price of $220 million.

Year-to-date, Block stock is down about 5.0% at writing.

Should you buy Block stock now?

Block ended the quarter with 20 million monthly active users on “Cash Card” – up 34%. Earlier this week, K33 analyst Vetle Lunde noted the similarity in how bitcoin is performing this year and how it recovered after the bear market of 2018-2019.

If it continued on the same trajectory, he added, bitcoin could be worth as much as $45,000 in the coming weeks which could be a significant benefit to Block Inc both in terms of its financial performance as well as the share price.

Those interested in buying Block stock today should also know that analysts at KeyBanc continue to see upside in it to $85 – up roughly 40% from here.

Other notable bulls of the financial technology company include Cathie Wood – the Founder and Chief Executive of Ark Invest.

The post Should you buy Block stock on a boost to bitcoin revenue in Q1? appeared first on CoinJournal.

WOO price surged by 12% today: can it hit $0.3500 soon?

Key takeaways

  • WOO is the best-performing cryptocurrency amongst the top 100 by market cap today.

  • The rally comes as Woo Network listed new perpetual products and revamped its community ambassador programme.

  • WOO could be eyeing the $0.3500 psychological level following its recent rally.

WOO price stands at $0.2893, up by more than 12% today

WOO, the native token of the Woo Network, is the best performer amongst the top 100 cryptocurrencies by market cap today. The token is up by more than 12% in the last 24 hours.

At press time, the price of WOO stands at $0.2883 and could rally higher in the near term.

The rally comes as the WOO Network listed the SUI perpetual token with zero fees on its platform. This latest cryptocurrency news means that traders on WOO can start trading SUI futures.

In addition to that, the Woo Network recently revamped WOO Force, its community ambassador programme. The revamp is designed to extend the reach of WOO’s growth initiatives.

These latest developments could be the major catalysts behind WOO’s ongoing rally.

Could WOO reach the $0.3500 psychological level soon?

WOO has been performing well in recent days and could be on its way to reaching new highs. At press time, WOO is trading above the $0.28 level.

If the rally continues, WOO could reach the $0.3500 psychological level for the first time since April 19.

The fundamental conditions of the broader cryptocurrency market could also help WOO rally toward that price. 

Despite its recent positive performance, WOO remains 88% down from the all-time high of $2.4807 it achieved in November 2021. 

The post WOO price surged by 12% today: can it hit $0.3500 soon? appeared first on CoinJournal.

AltSignals (ASI) price outlook as AI hype sends AI-based tokens through the roof

  • AltSignals is a financial markets trading signals service provider and it is working on an AI-based algorithm.
  • AltSignals is currently conducting the presale of its new AI-based native token ASI.
  • The ASI presale is currently in the second phase.

The hype around artificial intelligence (AI) technology has found its way into the crypto world and AI-based cryptocurrencies are seeing quite a boom buoyed by the AI hype.

Most of the AI-based cryptocurrencies are relatively new and were launched after the launch of OpenAI’s AI-based chatbot ChatGPT. Over the last seven days, most of these tokens have seen a triple-figure price rise. Omax Coin (OMAX) has raised by 108%, Forta (FORT) by 106%, and ChainGPT (CGPT) by 59%, just to mention the top three AI-based crypto gainers over the last seven days.

AltSignals’ AI-based project prospects

Since its launch in 2017, AltSignals has grown popular for providing quality trading signals to over 50,000 Telegram members. Its trading signal service has earned a 4.8 out of 5-star rating on Trustpilot.

Currently, the AltSignals team wants is working on upgrading its signal-generating service after its early success. The team is seeking to integrate artificial intelligence, natural language processing, machine learning, and advanced sentiment analysis in signal generation.

The new AI-powered trading platform, dubbed ActualizeAI, will be powered by the ASI cryptocurrency, which will be the unit of membership in ActualizeAI, with holders being able to vote on the governance of the platform.

AltSignals is currently conducting the presale of the ASI token and it is now at the second stage of the presale which at press time was 65.08 % sold out. Interested crypto investors can participate in the presale here.

Going by the success that ChatGPT has had since its launch towards the end of 2022, AltSignals’ ActualizeAI project could also receive a significant uptake. The quick sell-out of the first AltSignals’ presale stage, the BETA stage, is already a testament that investors have confidence in the ActualizeAI project.

Should I buy the ASI token?

Well, the cryptocurrency market is extremely volatile and it can be quite a risky investment. Nevertheless, people have taken advantage of the crypto price movements and earned a good amount of money.

Although the ASI token is still new in the market, its price has been on the rise since the start of the presale. In the BETA stage, it was selling at $0.01200. It has increased by 25% to the current price of $0.015.

According to the schedule provided by AltSignals on its official website, the ASI is expected to continue rising in the remaining presale stages. It is projected to sell at $0.02274 at the end of the presale.

AtlSignals (ASI) price outlook after presale ends

AltSignals has already earned itself a reputation within the trading signals service market, which is a good proponent for the ASI token. Investors at least know they are investing in a trusted company which has been in the market for the past five years.

The price of ASI could skyrocket just like its AI-based cryptocurrency peers once ActualizeAI goes live and starts attracting active users. Also, the ASI token is scheduled for listing on Uniswap and several other centralized exchanges once the presale is concluded; something that could further add impetus to the price surge.

The post AltSignals (ASI) price outlook as AI hype sends AI-based tokens through the roof appeared first on CoinJournal.

Dogecoin and DigiToads leading the charge as meme coins disrupt the crypto market

  • DigiToads is currently conducting a presale of its native token, TOADS.
  • At press time, the current presale stage Lilypad 5 was 83.84% sold out.
  • A single TOADS token is currently going for $0.024.

Meme coins might have taken their sweet time to enter the crypto hall of fame, but there’s no denying that they still have a long way to go. Inspired by viral internet memes, meme coins are edging ahead to establish themselves as a quality mainstream financial instrument. 

Take the example of Dogecoin or even DigiToads, which has raised more than $2.2 million in just four presale stages. 

Built on the Ethereum network, DigiToads has been garnering a lot of attention with its next-generation features that combine the utility of different cryptocurrencies. The hybrid model enables users to earn a passive income.

DigiToads: Unravelling the full potential of DeFi

DigiToads is an upcoming meme coin that offers stake-to-earn and play-to-earn features on its platform. Its native token is TOADs which can be used to access all its features. DigiToads’ unique DeFi model makes it an ideal option for those interested in learning all about cryptocurrency trading for beginners.

You can stake tokens or trade them, participate in Web 3.0 games to win rewards, enter giveaways worth $150,000, and even stand a chance to win daily and weekly prizes. For those interested, the TOADS token has been released on presale. 

With 10 stages in all, the presale process is currently in its fifth phase ‘Lillypad 5’. You can participate in the presale here.

DigiToads game

DigiToads game is based in a metaverse swamp where players have to show their skills by defeating their competitors with the help of DigiToads. These digital creatures have unusual abilities like strength or a special trait that can up a player’s game. Players can use TOADS tokens to acquire food, potions, and exercise equipment for their DigiToads.

When the season ends, the players occupying the top 25% of the positions on the scoreboard are rewarded with TOADS tokens. As far as staking goes, there are ample opportunities to stake NFTs on DigiToads. The longer the period of staking, the higher the rewards that you will earn. The staking pool comprises 2% of the annual profits rakes by the project.

The DigiToads team has laid out a community-centric roadmap for its future growth. These plans include donating 2.5% of the annual profits to organizations involved in the preservation of rainforests and replanting trees.

The organizations that would get these donations would be picked out by the community members. Moreover, the team would be launching an online learning facility to offer sessions on cryptocurrencies and the DigiToads network. To access these sessions, one would have to own at least three TOADS NFTs.

Dogecoin has a new patron: Sean Ono Lennon

Dogecoin is one of the most-traded meme coins and its symbol briefly replaced Twitter’s iconic blue bird symbol. It draws inspiration from a Japanese dog breed and its meme coin’s native token is DOGE.

Dogecoin was initially rolled out as a hard fork of Litecoin and the meme coin recently made waves internationally after former Beatles singer John Lennon’s son Sean Ono Lennon announced that he is now following Dogecoin founder Billy Markus on Twitter. He had earlier also extended his support to Bitcoin in a tweet.

What are analysts saying about DigiToads?

DigiToads has become a sensation within the crypto space and especially among the meme coins. If it continues on the same track, DigiToads could be among the meme coins that are going to shine in 2023.

The major reasons behind TOADS’ popularity include its higher growth potential and the diversity it offers users when it comes to earning passive income. By choosing between various opportunities, users can look forward to building a respectable means of residual income.

The post Dogecoin and DigiToads leading the charge as meme coins disrupt the crypto market appeared first on CoinJournal.

Litecoin creator Charlie Lee shares huge prediction for LTC price

  • Litecoin creator Charlie is bullish on the LTC price.
  • In a Twitter thread on Tuesday, Lee said he sees the cryptocurrency as having lots of potential.
  • He noted that Litecoin was fairly launched and has had over 11 years of zero downtime.

Litecoin (LTC) creator Charlie Lee says he sees the cryptocurrency as having value even as its price remains a fraction of Bitcoin (BTC), the pioneer asset that inspired what is often dubbed digital silver.

In a tweet posted early Tuesday, Lee highlighted what he says are undeniable pointers to Litecoin’s key strengths. He sees Litecoin price gaining against Bitcoin.

It’s hard to deny there is value in Litecoin, a coin that has low fees, is protocol-compatible with Bitcoin, has the same game theoretical attack surfaces as Bitcoin, is secured with its own set of ASIC miners, is fairly launched, and has 11.5 years of history with zero downtime,” Lee noted.

Charlie Lee is bullish on Litecoin price

Sharing his price outlook for LTC, Lee said he expects the digital silver to rally to new highs. He notes that the current market values Litecoin around 1% of Bitcoin, which is “accurate.” However, with “a ton of potential”, the altcoin could rally to 10% of BTC.

Lee says the cryptocurrency’s higher throughput, scalability, better fungibility and privacy are key features that could aid the coin’s price.

According to him, going to 0.0125 BTC in the next bull cycle is possible. On the downside, the LTC creator gives a Litecoin price prediction of 0.0025 LTC/BTC.

Litecoin traded at around $89 on Tuesday 2 May 2023, roughly 2% up on the day against the US dollar. Meanwhile, it was changing hands at 0.00307886 BTC, with the LTC/BTC pair just 0.1% in the green. 

While Litecoin price reached its all-time high above $410 in May 2021, its gains paled in comparison to Bitcoin’s rally to its all-time peak above $69,000.

The post Litecoin creator Charlie Lee shares huge prediction for LTC price appeared first on CoinJournal.