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The Memeinator outlook amid MicroStrategy’s $60M unrealized BTC gain

  • The Memeinator presale has raised nearly $820k within weeks of its launch and is seeing huge interest.
  • This article looks at MicroStrategy’s Bitcoin investment amid BTC price resurgence
  • What does this mean for crypto and for investors looking to tap into new opportunities?

MicroStrategy is reportedly sitting on $60 million in unrealized gains from its haul of Bitcoin (BTC). Despite the crypto market’s bearish flip over the past two years, the business intelligence company continued to buy rather than fold and sell its holdings. The recent purchase of more than $147 million worth of BTC illustrated the firm’s long term bet on the asset.

Despite the bear market’s brutal impact on businesses, MicroStrategy’s approach suggests long term investors could reap big from their crypto investments.

Could this outlook also apply to diversified bets on promising altcoins, one of which could be the Memeinator (MMTR)?

Why MicroStrategy’s Bitcoin bet could pay off big

In September, when MicroStrategy founder and CEO Michael Saylor announced the firm’s latest Bitcoin purchase, he noted that they hodled 158,245 BTC acquired at $4.68 billion. The average buy price was $29,582, while the benchmark crypto traded around $27k at the time.

BTC/USD is down significantly from its all-time highs of $69k. However, the surge above $30k that comes after a brutal downturn illustrates the likely benefit of resilience for investors. 

Investors will know that the crypto ecosystem’s wild price fluctuations do pose a risk to any portfolio. Yet, what the $60 million unrealized gains for MicroStrategy show is that this could easily jump into hundreds of millions of dollars. That is, if BTC price goes parabolic as anticipated in the next bull cycle.

Analysts have predicted that Bitcoin price could rally to a new all-time high above $100k if a spot Bitcoin ETF is approved and coincides with the upcoming rewards halving event. Further adoption amid mainstream investment could propel the coin’s value higher in the long term. It’s what MicroStrategy appears to be betting on and one strategy that realizes the obvious risks also come with great potential.

Although Bitcoin stands out within the crypto space, a number of altcoins have emerged as top long term investment bets, with investors positioning themselves amid the bull market predictions. Among the new projects is the Memeinator (MMTR).

What is Memeinator?

Imagine a crypto world where all puny meme tokens are a thing of the past, and only real value tokens are thriving amid game-changing utility to the community. That’s the outlook of Memeinator (MMTR), a new project looking to rid the meme world of worthless meme coins as it redefines the investment space.

In its whitepaper, the project defines an ecosystem that leverages artificial intelligence (AI) to bring value to holders of the native MMTR token.

With the market already a crowded space, the Memeinator seeks to distinguish itself via its tokenomics, staking, NFT, and game features – with its Meme Warfare game an addition that will disrupt the hype-driven and largely speculative meme coin investing space.

The Memeinator – an investment outlook

It’s Memeinator’s innovative approach to crypto memes that has the crypto community buzzing as evidenced by the participation in the ongoing MMTR presale. 

Notably, not all projects that have promised to take on Dogecoin, Shiba Inu and other top meme coins in the past have managed to dislodge them. But Memeinator is built differently and its revolution is getting stronger with each early bid in the presale.

Currently, the MMTR token is priced at $0.0118, having jumped from the initial $0.01. In the next stage of the presale, the Memeinator price will increase to $0.0125, before rising throughout the 29 presale stages to hit $0.049. From the current value, this increase would amount to about 315% gains by the time the tokens hit the first trading platform.

The price could explode with further demand, driven by the launch of various products such as the aforementioned P2E game. 

Like other tokens, profit taking from presale investors could inform a sudden short term dip. But as MicroStrategy continues to illustrate with its hodl strategy, taking a long term bet on the token could pay off, particularly if Memeinator hits the targeted $1 billion market cap.

Do you want to find out more about the Memeinator? Visit the official presale page.

The post The Memeinator outlook amid MicroStrategy’s $60M unrealized BTC gain appeared first on CoinJournal.

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Reddit’s r/CryptoCurrency community removes moderators accused of insider trading

  • r/CryptoCurrency removes moderators for MOON token insider trading.
  • Insider trading led to an 85% token price drop, sparking debates.
  • MOON token’s future remains uncertain, with discussions and pending decisions.

In a recent development within the r/CryptoCurrency subreddit, a community of 6.9 million crypto enthusiasts, a group of moderators has been ousted for alleged insider trading of MOON tokens.

This incident has stirred a flurry of discussions within the crypto community, raising questions about fairness, transparency, and regulatory actions.

Moderators removed amid insider trading accusations

Last Tuesday, Reddit announced its decision to terminate the “Community Points” program – a blockchain-based system designed to reward content creators and developers. This program allowed users to earn and spend community points using native tokens like MOON.

However, a significant controversy erupted when it was revealed that some moderators had traded MOON tokens shortly before the official announcement.

Approximately 30 minutes before Reddit’s decision, these moderators reportedly sold 456,353 MOON tokens, valued at $92,000, causing the token’s value to plummet by over 85% to $0.0198.

The gravity of the situation prompted swift action. Reddit’s r/CryptoCurrency community took a decisive step by removing all moderators involved in the insider trading of MOON tokens. This move aimed to address concerns of fairness and integrity within the community.

Future of MOON tokens

The insider trading incident has elicited a range of responses from the crypto community. Some individuals called for regulatory actions against the moderators accused of wrongdoing, emphasizing the need for accountability. Simultaneously, others expressed dissatisfaction with the advance notification given to moderators, arguing that all participants should have been treated equally.

The r/CryptoCurrency subreddit is now actively deliberating the future of MOON tokens.

A proposal put forth by u/mellon98, a core contributor and founder of MoonsDust, is under consideration. Additionally, the community awaits Reddit’s decision on whether to transfer the MOON token contract to the community or a burn address.

In the midst of this turmoil, r/CryptoCurrency asserts its commitment to the MOON community token, emphasizing that “Moons are here to stay.”

The Reddit r/CryptoCurrency community’s actions reflect its dedication to upholding these principles and ensuring the sustained presence of MOON tokens in the crypto space.

The post Reddit’s r/CryptoCurrency community removes moderators accused of insider trading appeared first on CoinJournal.

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Aptos bullish after the anniversary outage, here’s why APT price is rising

  • There has been some substantial in-game activity on the Aptos Arena.
  • There has also been an overall positive sentiment in the cryptocurrency market.
  • The price of Aptos (APT) token has climbed by 21% over the last 7 days.

The Aptos (APT) cryptocurrency has been making headlines with its impressive performance, recently breaking through the $6 mark, and gaining a staggering 21.01% in the past week alone. The token is rising four days after Aptos suffered a five-hour outage. The outage coincided with the same week that Aptos was launched in 2022.

This remarkable price surge has piqued the interest of investors and crypto enthusiasts. But what is driving this extraordinary growth in the Aptos network, and why is it attracting significant attention?

Aptos’s rapid expansion and global presence

Aptos Network has been experiencing rapid expansion, with a notable milestone of 112 nodes operating around the world. These nodes are strategically distributed across 25 different countries and 50 cities, ensuring a resilient and globally accessible network infrastructure.

The increase in the number of nodes plays a crucial role in enhancing the stability and security of the network, attracting more users and developers to participate in the Aptos ecosystem.

In-game activity on Aptos Arena

One factor contributing to Aptos’ remarkable growth is the burgeoning adoption of its online multi-player game platform, the Aptos Arena. The Arena is seeing a surge in activity with over 12,000+ unique players, 67,000+ spawns, and a staggering 150,000+ transactions as of October 23.

The game is sprawling with activity as gamers compete to spawn and earn APT for every kill. There are also over $10,000 in giveaways plus NFTs.

These statistics highlight the robust engagement within the Aptos Arena, indicating its popularity and the thriving in-game ecosystem it offers.

APT price analysis

Aptos (APT) is currently trading at $6.0596 with a market capitalization of $1,491,384,688, securing its position at 33 in the cryptocurrency market.

The trading volume in the last 24 hours reached $455,290,068, ranking Aptos at #12 by volume. With a circulating supply of 246,120,278 APT and a total supply of 1,061,598,542 APT, Aptos demonstrates a healthy token distribution. The fully diluted market cap for APT is estimated at $6,430,581,495.

Notably, Aptos has experienced significant price fluctuations, with its all-time high recorded at $19.90 on January 30, 2023, and an all-time low of $3.09 on December 30, 2022. Despite these fluctuations, the recent bullish trend indicates that Aptos is making strides to reclaim its previous highs.

The post Aptos bullish after the anniversary outage, here’s why APT price is rising appeared first on CoinJournal.

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Bitcoin hints at sell signal after hitting 3-month high

  • Bitcoin price hit $30,369 on Saturday, its highest level since July.
  • While bulls could push higher in coming weeks, the immediate outlook suggests a bearish flip.
  • Crypto analyst Ali points to the TD Sequential indicator as hinting at a sell signal.

Bitcoin price rose to its highest level since July when it broke above $30k to reach highs of $30,369 on Saturday. BTC is indeed looking for its fourth-biggest weekly gains year-to-date.

However, although the benchmark crypto trading around $29,950 at the time of writing, an analyst says further retreat is possible given the potential for a key bearish signal.On the upside, market observers see a flip and weekly candle close above $31k as what bulls need to take control of the prevailing volatility.

BTC price shows sell signal

According to crypto analyst Ali, the potential for a head-and-shoulders pattern for BTC on the daily chart has received greater attention across the market. And in a chart shared on X on October 22, the analyst points to the possibility of the scenario unfolding given a key bearish signal – the TD Sequential indicator.

Other than the sell signal hinted at after BTC price rose over the past several days, the overextended outlook is added to by the daily RSI that has previously triggered notable pullbacks.

“The $BTC daily chart hints at a possible sell signal emerging tomorrow, based on the TD Sequential indicator flashing a green 9 candlestick. Not to mention, the RSI reached 74.21 — a level triggering sharp corrections since March,” Ali wrote on X.

Based on this outlook, the analyst noted:

“An impending price correction appears to be on the horizon unless #BTC manages to clock a daily candlestick close above $31,560.”

A flip lower from the current resistance zone, and confirmation of the H&S pattern could mean a retest of immediate support around $28,492. A slight sell-off could also reignite the bearish target of $25k. 

The flipside could be catalysed by positive ETF news, with buyers targeting a run to the $40k area.

The post Bitcoin hints at sell signal after hitting 3-month high appeared first on CoinJournal.

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Chainlink price: LINK jumps 13% to hit 1-year high

  • Chainlink (LINK) price has surged more than 23% in the past week.
  • On-chain data shows LINK price soared amid whale accumulation.
  • Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.

Chainlink (LINK) price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.

But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.

Why has LINK price been soaring?

Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.

According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.

Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are “many giant whales of $LINK,” including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.

Chainlink price outlook

As well as the 30-day time frame, Chainlink’s native token is up over the past one-year, with its current price a 52-week high. However, while LINK/USD has enjoyed some upside episodes year-to-date, prices were largely constrained below the $8.60 mark. Chainlink also fell to lows of $4.77 in June this year.

Chainlink price on weekly chart. Source. TradingView

On-chain data suggests whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.

Whale activity was also behind LINK’s surge in July. The latest price spike is likely to attract some downside pressure.

“This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit,” Lookonchain posted on X.

While continued whale accumulation portends possible near-term price explosion, its likely the spike to near $10 could come with some sell-off pressure.

The post Chainlink price: LINK jumps 13% to hit 1-year high appeared first on CoinJournal.