Kategorie: Crypto News

• Mina’s surge was fueled by Upbit’s listing and KRW pairing.
• Bluzelle surge is fuelled by whale accumulation and gaming activity in GAMMA 4.
• The Conflux surge is fuelled by its expansion efforts in the UAE.

In a whirlwind of market activity, three cryptocurrencies – Mina (MINA), Bluzelle (BLZ), and Conflux (CFX) – have recently experienced significant double-digit surges in their token prices.

This extraordinary growth is closely tied to their involvement in the rapidly expanding world of Web3, each capitalizing on different aspects of the decentralized web.

Mina rides high on Upbit listing and Korean expansion

Mina Protocol’s native token, MINA, has surged by an astounding 81.25% in the past 24 hours to trade at $0.7487 at the time of writing.

This remarkable growth came hot on the heels of Upbit’s announcement that it would introduce a Korean won (KRW) trading pair for MINA.

Upbit, South Korea’s largest cryptocurrency exchange, carries significant influence, and the introduction of a KRW pairing has sparked a buying frenzy among local and global traders. The new trading pair simplifies the process for Korean traders, eliminating the need to first convert their local currency, thereby making MINA more accessible.

Bluzelle’s BLZ rises on whale accumulation

Bluzelle (BLZ) is on the rise, experiencing a 28.36% surge in the past 24 hours. The project positions itself as a decentralized storage network designed to serve the creator economy.

Bluzelle offers secure, censorship-resistant, and highly available data storage services, tailored to the needs of artists, musicians, scientists, publishers, and developers. With a focus on data storage, file storage, and oracles, Bluzelle’s services are well-suited for the emerging NFT and DeFi sectors.

The BLZ token’s price boost can be attributed to increased whale accumulation and increased gaming activity in GAMMA 4, the Crypto Sci-Fi Epic powered by Bluzelle.

🌐 Introducing the #Bluzelle BCAP— Battalion Command Ambassador Program

A program for contributors passionate about driving Bluzelle’s community growth, adoption & greater awareness!

🔥Are you ready to get in?

✅ Join Discord to get started: https://t.co/pe0aRos4eF pic.twitter.com/pAkaD9y5Yv

— Bluzelle (@BluzelleHQ) October 18, 2023

The rise in demand for BLZ tokens within the GAMMA 4 gaming ecosystem has played a pivotal role in the token’s rally.

As BLZ is used for in-game activities, purchases, and exclusive features, it has seen an uptick in utility. Additionally, speculation among cryptocurrency traders and investors has intensified due to the association with the popular gaming platform, further bolstering BLZ’s price.

Conflux Network price rises on UAE expansion

Conflux Network’s native token, CFX, has also seen notable growth, with a 23.18% price increase in 24 hours.

The blockchain platform, which focuses on scalability, decentralization, and security, recently announced its expansion in the United Arab Emirates (UAE). This development follows a dialogue with His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, which recently announced a free zone for digital assets.

Last week, our Co-founder & CTO, Ming @spark_ren , and Global BD Lead, Dora @realdora_eth, had an engaging dialogue with His Highness Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.

We’re excited to support digital and virtual asset initiatives in RAK and are eager to leverage… pic.twitter.com/qwtpO5Xi6T

— Conflux Network Official (@Conflux_Network) October 23, 2023

Conflux will partner with NewTribe Capital, which aims to support digital and virtual asset initiatives in the UAE and expand Conflux Network’s presence in the Asian markets.

🚀 A giant leap towards fostering #Web3 adoption and innovation within the #UAE and beyond!

🌍 Honored to have @NewTribeCap by our side, assisting us in expanding our footprint in the UAE through meaningful partnerships, regulatory engagements, and local project support.

🤝… https://t.co/QnzjgOHnvX

— Conflux Network Official (@Conflux_Network) October 23, 2023

Prior to the UAE-triggered price surge, conflux has been making waves within the crypto market for its collaboration with China Telecom to debut the first on-chain interaction with Blockchain SIM cards.

Conclusion

These remarkable price surges highlight the growing interest in Web3 technologies and their diverse applications.

As the Web3 ecosystem continues to expand, cryptocurrencies like MINA, BLZ, and CFX find themselves at the forefront of innovation, offering solutions to various challenges and tapping into emerging markets.

The post Web3 traction drives Mina, Bluzelle, Conflux tokens’ double-digit surges appeared first on CoinJournal.

• Bitcoin products saw $55.3 million in inflows, short bitcoin products recorded $1.7 million.
• BTC price rose to highs above $35k amid speculation around a spot Bitcoin ETF.
• In altcoins, Solana (SOL) saw inflows of $15.5 million but Ethereum saw $7.4 million in outflows.

Crypto products have registered institutional inflows for a fourth consecutive week, with Bitcoin seeing the most inflows amid its recent price spike. Today, the leading digital asset saw its price rise sharply to above $35k, suggesting the trend is likely to continue as sentiment slowly shifts towards a solid bullish outlook.

$66 million in inflows last week

It appears institutional appetite for crypto investment products is hitting new levels as more people pour money into crypto funds. A report by digital asset manager CoinShares shows that cryptocurrencies are on a four-week streak of inflows, with Bitcoin accounting for the largest share of that with 84%.

While Bitcoin products recorded $55.3 million in inflows, short bitcoin products saw $1.7 million. According to James Butterfill, the head of research at CoinShares, it’s a scenario that suggests “short sellers are losing confidence.”

Solana (SOL), which has seen bullish strength since breaking above $20, also recorded significant inflows with $15.5 million. This continues a trajectory that sees inflows into the altcoin account for 47% of the category’s assets under management (AuM) year-to-date. Meanwhile, Ethereum saw $7.4 million in outflows this past week.

“While the most recent inflows are likely linked to excitement over a spot bitcoin ETF launch in the US, they are relatively low in comparison to June announcements, suggesting more caution from investors this time round,” Butterfill wrote in the report.

Nonetheless, speculation over a potential spot Bitcoin ETF triggered BTC’s sharp spike to its 17-month high above $35k early Tuesday. This momentum could take BTC higher and signal a bullish flip that develops into a raging bull market.

The post Crypto sees $66M in institutional inflows amid Bitcoin spike appeared first on CoinJournal.

• Bitcoin (BTC) price rose sharply to $35k, its highest price since May 2022.
• The skyrocketing prices came as new speculation about a spot Bitcoin ETF approval hit the market.
• Analysts say BTC could break to $40k or higher.

Bitcoin price skyrocketed early Tuesday to hit highs of $35k for the first time in 17 months. The BTC price’s sudden surge began late Monday when fresh news hit the market regarding the imminent approval of a spot Bitcoin ETF.

Bitcoin skyrockets to $35k

Unlike the previous ETF-triggered spike that faded just as quickly after it was the news was proved to be fake, this time BTC/USD smashed past the robust resistance at $32,800. The pump above this hurdle invalidated a bearish signal as the bellwether crypto asset to above $35k for the first time since early May, 2022.

Analysts are predicting further gains to $40k if bulls hold prices above the $31k level. This outlook could indicate strength for bulls and set up BTC for another explosive rally should the SEC make the formal announcement of a spot ETF approval.

Crypto analyst Michael van de Poppe commented in a post on X:

“#Bitcoin did hold above $30,200 and started breaking the yearly high. Quite surprised with this strength, but that’s what you get pre-ETF approval. As long as we stay above $31K, everything is all right and we’ll see $40K this year. Times are good. Buy the dips.”

Another analyst, the YouTuber Crypto Rover, says a breakout for BTC above the resistance line of a key triangle pattern could see it rally to highs of $48k.

The price target of this #Bitcoin breakout is $48,000 🚀 pic.twitter.com/rtaD637Jhm

— Crypto Rover (@rovercrc) October 24, 2023

Latest on spot Bitcoin ETF approval

As noted above, BTC price went vertical on fresh expectations of a spot Bitcoin ETF approval by the US Securities and Exchange Commission (SEC). On Monday, iShares Bitcoin Trust, which is by the $9 trillion asset manager BlackRock, was listed on the Depository Trust and Clearing Corporation (DTCC) website, highlighted with the ticker $IBTC.

Eric Balchunas, a senior ETF analyst at Bloomberg says this is all “part of the process of bringing ETF to market.”

The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Again all part of the process of bringing ETF to market.. h/t @martypartymusic pic.twitter.com/8PQP3h2yW0

— Eric Balchunas (@EricBalchunas) October 23, 2023

While the SEC has yet to official approve any proposal, speculation is that this listing gives a nod to the potential approval. Also notable has been the SEC’s acknowledgement of the Grayscale filing for conversion of its GBTC to a spot Bitcoin ETF, paving the way for a possible listing.

The post Bitcoin price skyrockets to $35k on fresh spot ETF news appeared first on CoinJournal.

• Investor FOMO drives Shiba Memu to $4 million presale
• What makes Shiba Memu unique compared to other meme tokens?
• Is Shiba Memu a good investment?

Shiba Memu extended its presale after an initial offering saw massive demand from an excited community. Now with cryoto in bullish mood and the presale extension nearing a close, the fear of missing out on what could be a great investment opportunity is driving new interest. 

Shiba Memu presale near $4 million

While speculation on what Shiba Memu can achieve is likely behind part of the early enthusiasm about this project, most of it could be down to what makes it unique from other meme tokens.

Global investors keen to diversify their portfolios with this token have poured millions into the project via the Shiba Memu (SHMU) presale. Having launched for an initial 60 day period in July, the Shiba Memu team moved to extend the offering to October 31. 

The new timeline has accorded interested investors an opportunity to buy SHMU.

As of today, the countdown to the presale is down to seven days. Evidently, FOMO has kicked in and as the programmed daily price increases move towards the final offer price of $0.0379, the total amount raised could be well above the $4 million mark.

Data on the official presale page shows investors have allocated $3,996,517 to SHMU positions.

Why could Shiba Memu be a good investment?

As a new meme token, Shiba Memu looks to tap into the power of blockchain and artificial intelligence to create a unique crypto project. The whitepaper outlines how it seeks to leverage AI to create a marketing powerhouse and self-sufficient ecosystem.

Unlike other tokens that rely on hype generated by influencers and celebrities to gain traction, Shiba Memu will create its own 24/7 marketing machine, underpinned by its AI dashboard. Analysts say this outlook has the capacity to see the native SHMU token eventually overtake leading meme coins in the market.

This possibility begins when Shiba Memu’s presale ends and SHMU begins to list on some of the world’s largest cryptocurrency exchanges. According to the roadmap, this is expected to roll out in the first quarter of 2024, with BitMart already snapped as the first CEX partner.

Key Shiba Memu developments lined up

As the trading support unlocks token utility and helps bulls push higher amid price discovery, the AI marketing tool will launch in the following quarter. Machine learning, launch of the AI dashboard and integration with decentralised applications (dApps) will follow as the market moves deeper into the expected bull market period.

Community engagement via these developments could put SHMU in the mix as likely revelations among the next bull cycle gems. The FOMO currently being witnessed will only intensify as investors recall the staggering gains tokens like Shiba Inu and Pepe notched during their respective market debuts.

It means taking a bid during the presale could offer the best route to better returns should the Shiba Memu token rally.

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