Kategorie: Crypto News

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Is the Grayscale Bitcoin Trust (GBTC) stock a good buy now?

  • The Grayscale Bitcoin Trust has jumped by over 168% from December lows.

  • The trust is hoping for Bitcoin to have a bullish breakout above the YTD high.

The Grayscale Bitcoin Trust (GBTC) stock price has moved sideways in the past few days as Bitcoin remained stuck at $30,000. GBTC was trading at $20, the highest level since June last year. It has jumped by more than 168% from the lowest level in December.

Bitcoin consolidation continues

The Grayscale Bitcoin Trust is the biggest fund in the cryptocurrency industry. It has over $18.9 billion of assets under management (AUM). Over the years, the fund has jumped by more than 19,200% since its inception.

Grayscale Bitcoin Trust stores its assets in an offline cold wallet with Coinbase Custody Trust. Most companies that have filed for Bitcoin ETFs have also selected Coinbase as the custodian of the funds.

GBTC creators have filed to convert the GBTC fund into an exchange-traded fund (ETF). Indeed, the company has sued the Securities and Exchange Commission (SEC) in a case that could change the industry. 

A ruling in favor of the company will open the possibility for other companies like Blackrock and Invesco to launch their spot ETFs. 

GBTC is widely known for its massive discount to its assets, The market price per share stands at $19.81 compared to its holdings per share of $22. This discount has been narrowing in the past few weeks.

The next key important catalyst for the GBTC stock price will be Bitcoin’s price action. Bitcoin has remained stuck slightly above the key support level at $30,000. Therefore, if Bitcoin rebounds, there is a likelihood that the Grayscale Bitcoin Trust will continue rising as well.

GBTC stock price forecast

The daily chart shows that the GBTC share price has been in a strong bullish trend in the past few days. It has managed to move above the important resistance point at $18.53, the highest level on April 10th. 

The Grayscale Bitcoin Trust stock price has moved above the 50-day and 100-day exponential moving averages (EMA). Further, the Relative Strength Index (RSI) has moved slightly below the overbought level to 69. GBTC’s volume has moved downwards.

Therefore, there is a likelihood that the GBTC price will continue rising as buyers target the next key resistance level at $25. A drop below the support at $18.53 will invalidate the bullish view.

The post Is the Grayscale Bitcoin Trust (GBTC) stock a good buy now? appeared first on CoinJournal.

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Crypto investment products hit 3-week streak of inflows

  • Bitcoin inflows over last week was $133 million, compared to Ethereum’s $2.9 million.
  • Total inflows into crypto asset products was $136 million, with this the third consecutive week of inflows.
  • Altcoins such as XRP, Solana, Polygon, Litecoin and Aave saw minor inflows.

Inflows into crypto investment products was $136 million this past week as the confidence in the digital assets investment space continued to build momentum.

According to data from crypto asset management firm CoinShares, last week marks the third consecutive week of inflows. With investors putting over $470 million into various crypto products, the 3-week period has resulted in a full correction of the outflows recorded over the previous nine weeks.

CoinShares’ report highlighting the digital asset investment market puts the year-to-date flows at a net positive of $231 million.

Bitcoin saw $133 in inflows

With Bitcoin mostly bullish in the past few weeks, institutional investors’ focus has largely been predominantly on Bitcoin products. That is explained by the inflows of $133 million for Bitcoin over the week, masively dwarfing Ethereum’s $2.9 million. Short-bitcoin products indeed saw outflows of $1.8 million to reinforce this perspective.

Leading altcoins such as XRP, Solana, Polygon, Litecoin and Aave recorded minor inflows. Even then, the signal is investors have a mostly positive outlook for the flagship crypto asset compared to altcoins.

Bullish crypto market after BlackRock ETF filing

This has come at a time when sentiment across the broader crypto market has largely flipped bullish and spot prices ticked up for most cryptocurrencies.

Numerous spot Bitcoin ETF proposals, led by top asset manager BlackRock, helped bulls push to new YTD levels. [Read more]

However, the uptick in inflows has come amid reduced trading turnover. The past week had a total investment products volume of $ 1 billion, compared to an average of $2.5 billion over the two weeks prior. Per CoinShares, low volumes seen over the week are likely due to seasonal effects – a scenario typically observed between July and August.

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AltSignals (ASI) investor uptake increases: stage 2 of the presale 50% sold out

  • So far, the AltSignals presale has raised $1,124,969.8875.
  • At the current stage, one ASI token is going for $0.01875.
  • Stage 2 of the presale is 50% sold out less than 10 days after it was started.

The AltSignals presale is gaining steam amid the increased artificial intelligence (AI) hype. While the first two presale stages (Beta sale and Stage 1) took slightly longer to sell out, Stage 2 seems it could sell out in a week’s time.

The price of the new AltSignals’ ASI token has been rising across the presale stages and it has so far increased by 56.25%. At the start of the presale, the ASI token was worth $0.01200 and it is now worth $0.01875.

AltSignals AI initiative

AltSignals has become a market leader in the trading platform industry and is currently attracting a lot of attention from the cryptocurrency technology industry. Since its launch in 2017, AltSignals has established a reputable name for itself and amassed a sizable user base of more than 50,000 devoted members.

AltSignals’ initial trading tool AltAlgoTM has been key in assisting traders looking to identify opportunities with the accuracy required for maximum profits. However, it is not resting on its laurels but rather making strides with the introduction of a game-changing AI innovation dubbed ActualizeAI that will be powered by ASI cryptocurrency.

ActualizeAI is designed as a modern trading platform that seamlessly integrates artificial intelligence and blockchain technology to expand the functionality of AltSignals’ already top-notch trading tools. Machine learning is what makes ActualizeAI unique because it enables the system to quickly analyse a vast amount of market data, including investor sentiment and numerous indicators vital for predicting price movements.

ActualizeAI promises to be a game-changer by offering traders, regardless of their level of experience, precise and timely trading signals to maximise their investment returns.

Why invest in the new ASI cryptocurrency?

The ASI tokens will allow holders access to the ActualizeAI toolkit, which will be at the cutting edge of trading technology, once it is released. This is like having an all-access pass to a collection of cutting-edge tools and intriguing possibilities.

Additionally, AltSignals’s DeFi services are accessible through ASI tokens. These consist of staking opportunities, giving users the chance to receive rewards for using the network, and encouraging long-term holding. By participating in governance proposals through voting, ASI token holders can also have a say in the platform’s future direction, ensuring a decentralised and community-driven approach to decision-making.

The ASI token also offers exclusive access to the AI Members Club which offers even greater opportunities for the ASI token holders. This elite club is a unique community for astute and discriminating traders and investors, not just a regular neighbourhood. Members have exclusive access to early-stage investment opportunities in crypto technology projects, giving them a head start on potentially game-changing endeavours. Another essential component of this club is access to new tokens during presales and private sales.

The AI Members Club also serves as a hub for social interaction and competitive online trading tournaments where members can test their trading prowess and compete for sizable cryptocurrency prizes. Being able to test and use AltSignals’ most cutting-edge trading tools before they are made available to the general public is probably one of the most coveted benefits of being a member of the AI Members Club. Members are able to stay on the cutting edge and in the know thanks to this exclusive access.

The post AltSignals (ASI) investor uptake increases: stage 2 of the presale 50% sold out appeared first on CoinJournal.

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Binance adds Arkham (ARKM) to launchpad

  • Binance has announced Arkham (ARKM) as the 32nd project in the Binance Lanchpad.
  • A snaphot of BNB balances will be taken on July 11 to July 17.
  • BNB, the native Binance coin, surged more than 3% to trade at highs of $243.

Binance has added Arkham (ARKM) to the Binance Launchpad, the 32nd project whose token sale the crypto behemoth has supported.

The price of BNB, the native Binance coin, surged more than 3% early Monday to trade at highs of $243.

Binance Launchpad adds Arkham (ARKM)

In a notice published Monday, Binance said the ARKM sale will be by subscription format. A snapshot for BNB balances starts at 00:00 (UTC) on July 11 to July 17, 2023 at 00:00 (UTC).

The ARKM token sale on the Launchpad will have a hard cap of $2.5 million, with each user limited to 300,000 ARKM or $15,000. Binance Launchpad has been allocated 50 million ARKM tokens, which is about 5% of the total Arkham supply of 1 billion.

The public sale price for ARKM is $0.05.

Arkham launches intel markeplace

Today’s news that Arkham is the 32nd Binance Launchpad project coincided with another big announcement from the on-chain analytics platform.

This because Arkham also announced its Arkham Intel Exchange, dubbed the “world’s first on-chain intelligence marketplace.” It is expected to go live on July 18.  

Intel Exchange will bring to the marketplace an intel-to-earn economy, allowing for anonymous buying and selling of on-chain intelligence on any crypto wallet address. The new platform will be powered by smart contracts and involve buyers placing bounties for intel.

“Anyone can post a bounty seeking some on-chain information, by locking funds to request information on crypto addresses or entities. These bounties can then be fulfilled by ‘bounty hunters’ – blockchain researchers or sleuths, who will exchange intelligence in return for the payment,” Arkham wrote.

According to the Arkham team, demand for on-chain analysis continues to increase, particularly from traders, investors, researchers, journalists, and protocols.

The post Binance adds Arkham (ARKM) to launchpad appeared first on CoinJournal.

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Chancer presale accelerates as Binance CEO CZ makes a huge prediction on crypto

  • Chancer seeks to introduce a P2P betting model.

  • Chancer’s presale has accelerated, with over half of the tokens sold in the first stage.

  • The token could hit three-digit or four-digit percentage price increases in 2023.

When will cryptocurrencies resume a bullish trend after a down-beaten 2022 and 2023? Binance CEO Changpeng Zhao (CZ) thinks 2025 could be the likely year. And while investors may feel this might be a little bit far after expecting the bull market later in 2023 and 2024, the interest in crypto keeps growing. Investors are banking on newly launched tokens that can defy the bear market. Chancer, a blockchain-based predictive markets application, has been attracting investors. Investors have bought at least $615,560 worth of tokens in less than a month since the presale launched.

CZ predicts a bull market in 2025

In a recent AMA Twitter session, CZ told his followers that 2025 could be the probable year for a sustained Bitcoin bull market. According to CZ, the Bitcoin halving event in 2024 will likely catalyse the bullishness. 

The Binance CEO pointed out that historical bull price movements in Bitcoin have followed the halving cycles. If history is to repeat itself, Bitcoin is set for a bullish surge in 2025, with the cryptocurrency’s price seen as a barometer for the rest of the sector. Notable halving events propelling Bitcoin’s price were in 2012 and 2016, and CZ projects a repeat after the halving event in 2024. 

CZ’s insights underline growing sentiments that Bitcoin is set for a bullish market after the price recently attempted to break above the $30,000 barrier. Investors have been hopeful of a likely bull run over the next couple of months. 

Nonetheless, macroeconomic concerns are yet to clear, meaning that a potential bull market could occur in or over a year. With this, investors could be looking for opportunities in newly launched projects to capture initial momentums before the bullish market. Chancer could be benefiting from this sentiment, given the fast-selling presale.

What is Chancer, and how does it work?

Chancer is a blockchain-enabled peer-to-peer (P2P) betting platform. As the name suggests, the platform lets users bet with friends, colleagues, and other participants via custom markets. Chancer works quite simply.

Users create P2P markets to predict the outcome of key events, processes, episodes, and many more. Unlike traditional betting, whose betting markets and odds are fixed by the bookmakers, Chancer allows users to determine what they want to bet on. 

Users also place odds and rules which guide the betting and claiming of winnings. All these are enabled via a secure decentralised platform powered by Binance Smart Chain.

CHANCER will be the token to run the Chancer project. Users earn CHANCER by winning on successful predictions, creating Chancer markets, or sharing the platform with others. The token will also be available for staking, allowing investors to earn passive income by committing their holdings to the growth of the platform.

CHANCER prediction in 2023

Chancer is only starting, and a huge prediction for 2023 could be overambitious. However, the project is attracting global interest, which could propel it to higher value. 

With the price of CHANCER at 0.01 BUSD in the first stage of the presale, the value could rise by triple digits before the end of 2023. The prediction is based on the fact that CHANCER will start listing in the third quarter of 2023, starting on Uniswap, giving it a chance to rise in value. 

Although tokens have risen by 10x after listing, which would also be realistic for CHANCER, such increases could be limited for 2023. That’s because product development is still ongoing, with huge value increases possible in 2024.

Is it the right time to buy CHANCER?

There is no right time to buy Chancer. Nonetheless, investors are better off buying now when the price is low for a higher return-to-risk ratio. The token’s price will rise in the next presales, meaning buying now could be the right idea for investors.

The post Chancer presale accelerates as Binance CEO CZ makes a huge prediction on crypto appeared first on CoinJournal.