Kategorie: Ethereum News

Last week, a massive amount of ETH was moved from several cryptocurrency exchanges sparking speculations of an oncoming bull run for one of the best cryptocurrencies to buy. At the same time, the market has been rife with interest in the new ICO crypto $GFOX, a token that is expected to redefine the meme coin industry.

Join us as we dig deeper into the recent $ETH withdrawals and what they mean for the second-largest cryptocurrency by market cap as well as why and how $GFOX contributes to the vast meme coin industry.

The meme coins battle

The battle of the memes has been going on for quite some time. This segment of the crypto industry is rife with competition as new meme coins keep coming up every day. One of the latest additions to this space is $GFOX, a coin that is destined to revolutionize the meme coin industry.

$GFOX is more than just a meme coin, although it draws inspiration from popular and successful meme coins like $DOGE, $SHIB, and $PEPE, $GFOX goes over and above to offer utility to its uses, making it a way better option.

Unlike run-of-the-mill meme coins, $GFOX offers a comprehensive ecosystem comprised of play-to-earn gaming, staking, merchandise, and NFTs. All this while also upholding meme culture and its fun aspects that lure in investors.

The utility that $GFOX offers is one of the main reasons investors consider it one of the best cryptocurrencies to buy. For example, the core of the Galaxy Fox ecosystem is the play-to-earn web-3 runner game. This game provides players with thrilling gameplay that is not only entertaining but pays off. Players who end the gaming season at the top of the leaderboard receive in-game currencies that they can exchange for $GFOX tokens.

The staking platform, on the other hand, allows loyal investors to stake their tokens in exchange for regular payments in the form of $GFOX. The $GFOX ecosystem features a stargate that collects 2% of every transaction to form a pool of funds that is used to reward loyal investors.

Although utility is a great feature to have, every investor’s ultimate goal is to make a profit. The $GFOX team realizes this which is why they have set up the presale to keep rewarding early investors.  With each presale stage, the price increases slightly, allowing investors to make some profits before launch.

The token burn feature also helps with the value of $GFOX. By introducing a deflationary aspect to the coin, the token burn feature enhances the intrinsic value of the coin to investors, making it one of the best cryptocurrencies to buy.

ETH withdrawals spike: rally incoming?

ETH has shown little action in the previous weeks. It is currently trading at $$2,470.18 a 6.8% increase in the past weeks. However, a quick look at on-chain data reveals a bullish sentiment among investors. Data from IntoTheBlock, an on-chain analytics company shows that traders have withdrawn a whopping $500 million from centralized exchanges in recent days. In the past months alone, over $1.2 billion worth of $ETH has been withdrawn from crypto exchanges.

With the recent withdrawals, the exchange reserves for $ETH are dwindling, creating a sense of scarcity in the market. With scarcity and increased demand, there is likely to be a spike in the price of $ETH. This prediction is backed up by the upcoming Dencum upgrade which is scheduled for March 13.  The upgrade will introduce a sharding technique known as proto-dank sharding, which creates more space on Ethereum layer-2 solutions, hence reducing the costs of these solutions.

Conclusion

A $ETH gears up for a spectacular bull run, and $GFOX is preparing to revolutionize the meme coin industry by introducing an array of unique features and unapparelled utility, $GFOX hopes to not only change up the meme coin sector but also become one of the best cryptocurrencies to buy to secure maximum returns in the coming bull market.

To learn more about $GFOX, visit Galaxy Fox presale or join the Community.

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• Crypto analyst Michael van de Poppe has predicted that Arbitrum will rise to $3.
• Daily new addresses on the Ethereum network will be increased in 2024.
• NuggetRush is at the last stage of its token presale, and investors are currently looking forward to its launch.

Top crypto analyst Michael van de Poppe has made a bullish prediction for Arbitrum, projecting a rise of 120% to $3.00. In other news, the Ethereum network has seen a notable uptick in daily new addresses in 2024. 

Meanwhile, NuggetRush has entered the final stage of its crypto ICO presale, with investors awaiting its official launch.

NuggetRush (NUGX) at the last presale phase

NuggetRush (NUGX) is making waves in its blockchain ICO stage, standing out as a fun meme coin that introduces users to play-to-earn gaming. On this platform, players get to enjoy a thrilling mining game where they can make money while having fun.

The game is packed with different challenges, with the coolest NFT rewards up for grabs. Also, players get to run their own mining gigs in NuggetRush, making smart moves and learning more about business management.

Those players who have top-notch equipment have higher chances to win bigger prizes. So, players are advised to upgrade their equipment as they play. NuggetRush also allows players to team up. So, you can join forces with others to search for minerals and carry out other mining challenges.

Meanwhile, the current price of NuggetRush’s NUGX is $0.018, a 20% pump from the previous round. This is the last round of this presale. Smart investors are already getting in and doubling down on their investment before the presale ends.

Analysts are already projecting 50x returns for investors who join now. So, jumping into the NuggetRush presale now is a smart move if you want to grow your assets as this DeFi project expands.

Arbitrum (ARB) likely to rise to $3 

Renowned cryptocurrency analyst Michael van de Poppe is confident that Arbitrum (ARB) could soon attain his earlier forecast of a 120% increase, reaching the $3.00 level. This optimism follows a downturn in the Arbitrum price after an initial 55% surge to its ATH of $2.39 last month.

In a post on X, Poppe pointed out that the recent 35% decrease in Arbitrum’s price might signify the end of bearish trends. With the altcoin price now steady, he believes a rebound in Ethereum’s price could greatly increase Arbitrum’s worth.

Meanwhile, the Arbitrum price chart indicates that the coin is now trading in accordance with analyst expectations. Arbitrum’s price has risen 11.3% and 9.4% over the last 14 and 7 days, respectively, according to CoinMarketCap.

Ethereum (ETH) new addresses continue to grow 

Ethereum (ETH) has steadily increased its usage in 2024, establishing itself as the second-largest cryptocurrency by market capitalization. Interestingly, the number of new Ethereum addresses has increased during 2024. 

Etherscan data shows that the network generated around 3.54 million new addresses in 2024. The daily growth rate of unique Ethereum addresses in 2024 averaged 95,570, with a significant increase of 96,145 addresses on February 6th alone.

The increased number of new addresses could be attributed to a variety of things, including the prospective spot Ethereum ETF and the Decun update. The Decun update promises to lower network transaction expenses by 90%. 

Meanwhile, the ETH price has ranged between $2,264.19 and $2,442.97, with a 7.0% weekly price pump.

Final Thoughts 

Several altcoins are again trading in the green, following a dismal phase in January. FOMO has increased in the market as investors look for promising cryptocurrencies. 

One altcoin on their list is NuggetRush’s NUGX token, which has soared over 80% in recent weeks. Analysts expect NuggetRush to climb like Arbitrum after its inception.

The post Arbitrum to Skyrocket 120%, Ethereum’s new daily addresses increases, NuggetRush enters last presale stage appeared first on CoinJournal.

• 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.

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.

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Key takeaways

• Ether is outperforming Bitcoin and a few other major cryptocurrencies after adding more than 2% to its value.

• Bitbot’s presale is now in the third stage and the team has raised nearly $450k.

Ether outperforms Bitcoin 

Ether, the second-largest cryptocurrency by market cap, has been performing well over the last 24 hours. The coin is up by more than 2% during that period. At press time, the price of Ether stands at $2,362 per coin. 

Ether is currently outperforming Bitcoin and a host of other leading cryptocurrencies. Bitcoin is now eyeing the $43,500 mark as the market begins to soar higher. 

What is Bitbot? 

Market conditions have begun to improve and more investors are looking for quality projects to invest in. One of the projects that could become a leader in the market is Bitbot. 

Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. Bitbot is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. 

According to their whitepaper, Bitbot intends to provide an innovative way of trading as it leverages Telegram’s position as a leading social media platform for crypto users. 

The team also revealed that Bitbot will provide users with high-end features to help them grow their trading portfolios. Some of these features are institutional grade, granting them access to world-class trading functions.

Bitbot will leverage the rising trading volume in the crypto market to gain massive adoption in the coming months and years. 

Bitbot brings technological innovation to traders

Bitbot intends to bring technological innovations that would benefit traders. The development team is working on some exciting tools that would make the trading process easier for its users. 

One of Bitbot’s key features is that it prioritises security. According to the team, Bitbot will leverage Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

The team will use some of the funds raised from the presale to develop 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.

The use of ultra-flexible wallet management fuelled by non-custodial API technology is another security feature available on Bitbot. 

To help traders boost profitability, Bitbot is working on a copy trading feature. This feature will enable traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale surpasses $400k

The Bitbot presale is now in its third stage and is now moving swiftly. The project has raised more than $440k so far and is more than halfway through the $630,000 target. 

The new milestone of $440k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.011 in the current presale round and will increase to $0.0116 once the fourth round commences. 

According to their whitepaper, the Bitbot development team will hold 20% of the total token supply and will use it to fund ongoing development. 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

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

Could Bitbot perform excellently in 2024? 

The cryptocurrency market is expected to rally higher in the coming months thanks to the upcoming Bitcoin halving and other important events. These catalysts could result in a Bull Run over the coming months.

If that happens, BITBOT could become one of the biggest winners in the market. As trading volume in the market increases, BITBOT could also see a spike in adoption if it rolls out its features and solutions. The development team is putting in the work to become an excellent project for cryptocurrency traders.

The post Ether tops $2,350 despite a bearish trend: Will it rally towards $2,500 soon? appeared first on CoinJournal.

Ethereum (ETH) and Binance Coin (BNB) are among the best altcoins in the crypto industry, and investors will always have them in their portfolios. Even though these tokens are currently bullish, they will probably not deliver a triple-digit ROI to investors in 2024. 

As a result, savvy investors turned to a fast-growing crypto token called Borroe Finance ($ROE). Keep reading to see expert opinions and forecasts on these tokens.   

Standard Chartered predicts a May Ethereum Spot ETFs approval

On January 30, analysts at Standard Chartered (one of the world’s leading financial institutions) predicted that the US SEC may approve Ethereum Spot ETFs by May 23. According to Geoff Kendrick (head of Digital Assets Research at SC), Ethereum will likely mirror BTC’s price movement in the weeks leading up to SEC’s approval for BTC Spot ETFs. Therefore, Kendrick predicts that ETH could trade for $4,000 before its approval.

Thanks to this positive Ethereum crypto news, ETH recorded a minor price surge in the last week of January. On January 24, ETH traded for $2,230. A week later, ETH gained 4.89% and sold for $2,336. According to crypto analysts, Ethereum may likely be one of the best crypto investments in 2024 due to landmark activities in the blockchain industry. BTC halving comes in April, and the resulting market volatility will likely push ETH to $3,200.

Binance Coin surges amid groundbreaking partnership

On January 27, Laika AI (one of the world’s best DeFi research platforms) announced a partnership with Binance Coin Greenfield. Binance Coin Greenfield is a sub-chain of the BNB chain built to provide a decentralized data storage system and thriving web3 data economy to the blockchain industry. In other news, Crypto Slam recently revealed that Binance Coin Chain NFT sales shot up by 688% in the last week of January.

Thanks to these favourable ecosystem developments, BNB went bullish in late January. On January 24, BNB traded for $292. Seven days later, BNB gained 4.84% and sold for $307. According to crypto experts, BNB is primed for a price surge in Q1 2024 because retail crypto traders will return to accumulate altcoins during BTC’s halving in April. Therefore, BNB will likely trade for $325 by March 2024.   

Investors back $ROE, presale raises over $2.7M in four stages

Borroe Finance ($ROE) is the world’s first web3 blockchain invoice discounting NFT marketplace. As a decentralized fundraising marketplace, Borroe Finance allows web3 businesses to raise instant cash by minting future earnings into NFTs and selling them to supportive communities at discounted prices. To ensure the safety of the fundraising process, Borroe Finance incorporates AI-risk assessment and efficient payment solutions into its protocol.  

$ROE’s fourth presale stage is ongoing, and the token is selling for $0.019. So far, $ROE has completed 85.7% of its current presale stage, and the platform has raised over $2.7 million. When all presale stages conclude, $ROE will surge to $0.040 and deliver a massive 110.5% ROI to early investors. Furthermore, experts believe $ROE will record quick market acceptance in 2024 and likely trade for $0.190 by the end of the year.  

To learn more about Borroe Finance, visit Borroe Finance Presale, join their  Telegram Group, or follow Borroe Finance on Twitter. 

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