Schlagwort: crypto business

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Core DAO’s CORE surges 200%: here’s what’s driving the price rally

  • CORE DAO’s token, CORE, sees a 67% surge reaching $2.75.
  • Several institutional investment funds have shown interest in CORE.
  • Technical indicators signal a bullish trend for CORE, despite the high RSI suggesting potential overvaluation.

The price of Core DAO’s native token, CORE, has experienced a staggering surge of over 200% within a week, capturing the attention of cryptocurrency investors.

This surge prompts an investigation into the factors fueling CORE’s rapid growth and its implications for the broader cryptocurrency industry.

CORE price performance

CORE DAO operates as an L1 blockchain supporting Ethereum Virtual Machine (EVM), enabling the execution of Ethereum smart contracts and decentralized applications (dApps). Its native token is referred to as CORE.

With its “Satoshi Plus” consensus mechanism, CORE combines delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS) for security. CORE serves as both the utility token and governance token of the Core network, facilitating various functions such as paying transaction fees, staking on the Core network, and participating in on-chain governance.

CORE’s recent price surge has astonished market observers, with the token’s value soaring by an impressive 67.25% in just one day, reaching $2.75.

CORE price chart

 

This surge has propelled CORE to the 54th position in market cap rankings, showcasing its significant market influence. Moreover, trading volume for CORE has surged by 148.07% in the last day alone, indicating heightened investor engagement and liquidity in the market.

CORE’s supply dynamics reveal that 875,161,702 tokens are currently in circulation, representing approximately 41.67% of its total supply of 2.1 billion tokens. With a fully diluted market cap of $5.78 billion, CORE’s potential market reach is substantial, enhancing investor confidence and interest in the project.

Technical indicators further support the bullish sentiment surrounding CORE. Exponential moving averages (EMAs) for 50, 100, and 200 days signal a bullish trend, acting as crucial support levels for price movements.

The MACD line indicates a positive sentiment, strengthening the bullish momentum for CORE. However, the high RSI suggests that the asset may be overvalued, potentially leading to significant price fluctuations.

Why is the CORE price rallying?

The recent surge in CORE’s price can be attributed to various factors, notably the endorsement from Coretoshis Lab. This endorsement highlighted the involvement of over 100 crypto institutional investment funds planning to purchase and hold CORE in the current year, instilling confidence in investors and attracting attention to the project.

Coretoshis Lab’s optimism about CORE’s future trajectory, coupled with references to “going to the Moon” and promising prospects for CoreDAO in 2024, has fueled FOMO among investors eager to capitalize on its upward momentum.

The Core Chain x Multibit/Bitstable: Core Journey Campaign also kicked off today (April 1, 2024) further fuelling the positive sentiment around CORE cryptocurrency. 

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Algotech’s third presale round commences, with over $3.5m raised so far

Key takeaways

  • Algotech has concluded its second presale round, with more than $3.5 million raised so far. 

  • The project seeks to provide AI solutions to the fast-paced world of cryptocurrency trading.

The Algotecth presale has been moving smoothly and it recently set another important milestone. Investment in the project continues to grow as the broader cryptocurrency market looks to surge higher in the coming weeks. 

What is Algotech?

To understand why investors are buying into Algotech, you need to understand what the project is and the solution it offers to users. 

Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading. According to their whitepaper, Algotech’s platform comes with advanced algorithms and machine learning features, helping traders to navigate the complex crypto markets efficiently, precisely, and accurately.

The project is introducing AI to the cryptocurrency trading space. With Algotech, traders won’t deal with the limitations and challenges associated with manual trading as it has a robust infrastructure and sophisticated trading strategies.

Algotech’s algorithms are fast, smart, and accurate, ensuring that traders get to execute precise and consistent investment strategies.

Why should traders use Algotech?

The cryptocurrency market has been bullish since the start of the year, with the total market cap now approaching $3 trillion. As more retail and institutional investors enter the market, traders need to have an edge to enable them to take advantage of the growing capital. This is where Algotech comes in.

The Algotech platform’s advanced algorithms analyze assets across over 1000 unique data points to identify the next breakout opportunities. Its algorithms also ensure that traders can make split-second entry decisions for high-precision trading.

However, a major feature that sets Algotech apart from other trading platforms is the risk-taking measures it has in place. Algotech reduces risk for traders by monitoring market funding levels, availability, liquidity, and spread. The AI-based trailing stops also ensure that traders manage their risk better and protect their trading capital. 

Algotech leverages AI to enable traders to identify arbitrage opportunities in different asset pairs and take automated entries. In addition to that, Algoecth offers users access to several trading tools including trading strategies, community resources, and trading education. 

Why is Algotech attracting investors?

The Algotech presale is now in its third stage, with 2.5% of the tokens earmarked for this stage already sold. Overall, 89,483,947 ALGT tokens have been sold, amounting to $3,579,357.880.

The impressive numbers recorded by Algotech can be attributed to the project’s strong potential. The team revealed that there would be a total supply of 350 million ALGT tokens. 10% of the tokens have been allocated to R&D and funding for testing, durability and performance on the current and new algorithms. 

10% of the total token supply has been allocated for support in promotion and bounty to partners. The founders will hold on to only 7% of the total supply while the team gets a 3% allocation. Finally, 70% of the total token supply is available for public sale (including marketing).

ALGT is an ERC-20 token and is set to offer holders a reward system that incentivises long-term investment and engagement. Token holders will also have governance rights within the Algotech ecosystem. 

Should you buy the ALGT token now?

The Algotech third presale round has begun, which means that the token now goes for $0.08. So far, the project has raised more than $3.5 million in less than a month. 

Historically, presale is the best time to invest in a project as it gives investors access to the tokens at a discount price. With the right level of adoption, ALGT could become an excellent token in the medium to long term.

The Algotech platform presents traders with multiple arbitrage strategies that enable the platform to earn profits by exploiting price discrepancies across several exchanges.

As a token holder, you will be entitled to a certain percentage of platform trading fees. Token holders will also get to participate in governance votes, community proposals, and qualify for potential airdrops in the future. 

Read more about the Algotech presale here.

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Dogecoin rallies by 28% this week: Will other memecoins follow suit?

Key takeaways

  • Dogecoin is the best performer amongst the top 10 cryptocurrencies by market cap this week.

  • Bitcoin Dogs prepares to carry out the biggest NFT mint on Bitcoin following its presale.

DOGE tops $0.20 after this week’s rally

DOGE, the native coin of the Dogecoin ecosystem, is the best performer amongst the top 10 cryptocurrencies by market cap this week. The memecoin rallied by 28% over the last few days, outperforming other major cryptocurrencies/

At press time, the price of Dogecoin stands at $0.2093 as DOGE crosses this mark for the first time since December 2021. With Dogecoin rallying, other memecoins could follow suit. 

Shiba Inu and Pepe have all recorded decent gains in recent days and others could rally higher. 

What is Bitcoin Dogs?

Bitcoin Dogs is a project that is looking to leverage the growth of the Bitcoin blockchain in recent years. It will provide utility to users and is the first BRC-20 token ICO on the Bitcoin network.

According to their whitepaper, Bitcoin Dogs is set to offer investors an exciting value proposition by combining the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture.

Bitcoin Dogs has concluded its ICO and raised nearly $13.5 million. The team is now focused on rolling out its products and listing its token on cryptocurrency exchanges. 

The team announced earlier this week that it is preparing to launch the biggest NFT mint on the Bitcoin network. 

The project could also benefit from the upcoming Bitcoin halving event. The halving event could see BTC rally higher and could benefit projects on the Bitcoin network. With the right level of adoption, Bitcoin Dogs could set the trend that would allow the Bitcoin blockchain to compete with Ethereum and BNBChain in terms of ICOs.

Bitcoin Dogs prepares to list on crypto exchanges

The Bitcoin Dogs presale was concluded a few days ago and the project raised nearly $13.5 million. 

The team will only mint 900 million $0DOG tokens. Furthermore, investors would be granted access to an exclusive NFT collection and an immersive gaming ecosystem.

In this spirit, Bitcoin Dogs is currently preparing for the biggest NFT mint on the Bitcoin network. The next step will also see its $0DOG token get listed on cryptocurrency exchanges. 

Click here to learn more about the recently concluded Bitcoin Dogs presale.

Should you buy the Bitcoin Dogs token once it is listed on exchanges?

The Bitcoin Dogs presale is now over, which means it is impossible to buy the $0DOG token from the official website. The team is preparing to list $0DOG on several crypto exchanges, allowing thousands of investors to have access to the project. 

The crypto market has been bullish since the start of the year and projects with utility like Bitcoin Dogs could record excellent gains in the medium to long term. With the right level of adoption, Bitcoin Dogs could be one of the tokens to soar higher. 

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Bitcoin wallet dormant for 12 years suddenly moves 500 BTC

  • According to on-chain data, a Satoshi era wallet has suddenly moved 500 BTC.
  • The Bitcoin wallet last transacted when the BTC price hovered near $8.

On-chain data shows a Bitcoin wallet that last transacted nearly 12 years ago has suddenly moved all 500 BTC it held.

According to data Lookonchain shared on March 30, the said wallet had been inactive since July 2012.

The last transaction that sent the 500 BTC to the wallet was at a time when Bitcoin price was a mere $8, Lookonchain noted.

While the wallet owner’s identity is unknown, the transfer to new addresses comes as Bitcoin price hovers around $70k. The benchmark cryptocurrency reached a new all-time high this month when it raced above $73k.

At current prices, the transferred coins are worth about $35 million.

In April last year, another Satoshi-ear wallet woke up after a decade of dormancy. The wallet, held 1,128 BTC and had last been active in 2012, transferred 279 BTC. The last transaction from this wallet had been when Bitcoin price was around $12.

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What’s happening to Litecoin price today?

  • Litecoin price reached $110 on Friday, its highest level in over nine months.
  • A popular crypto analyst says the macro downtrend for LTC may be over.

Litecoin (LTC) currently trades around $104. But earlier in the day, LTC price hovered just above $110, its highest level since last July.

LTC price reached an all-time high of $410 in May 2021. While current prices remain way off that peak, Litecoin’s latest bounce sees analysts predict what could be next.

Litecoin touches $110: Is LTC set for vertical gains?

Before LTC soared more than 15% on Friday, bulls had found it hard to break the psychological $100 level.

Now with price hovering above the mark, a popular crypto analyst says Litecoin price could extend gains if bulls achieve a monthly close at $122.  

“$LTC needs to Monthly Close above the orange resistance ($122) & turn it into support like in 2020/2021 (green circle) to build on its recent Macro Downtrend breakout. Monthly Closing above $122 has historically been a recipe for success for #Litecoin uptrends,” Rekt Capital shared via X.

Before the breakout on Friday, Rekt Capital had noted that LTC could consolidate above $94 amid a new macro uptrend.

Litecoin has pumped in recent weeks amid an overall bullish outlook for crypto.

The news that Coinbase was looking to add Litecoin futures trading and CFTC’s reference for LTC as a commodity also added to the positive outlook.

LTC is likely one of the altcoins to watch. Notably, Bitcoin’s potential to explode in coming months amid the halving catalyst is adding to LTC sentiment.

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