A new Deutsche Bank survey found that over half of respondents expect cryptocurrencies to become an important asset class and a method of payment. In addition, 10% of respondents expect the price of bitcoin to be above ,000 by year-end. Deutsche Bank’s Crypto Survey A recent Deutsche Bank survey of over 3,600 consumers, published this […]
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Donk.Meme Set to Conclude $DONKM Token Presale: Here’s a Chance to Become an Early Contributor Before Raydium Listing
PRESS RELEASE. Donk.Meme is excited to announce the final phase of the $DONKM token Presale which ends on friday 12th April 2024, offering early contributors and meme coin degens on Solana an exclusive opportunity to become one of the early holders of the Donk.Meme token by participating in the $DONKM token presale. The Presale is […]
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Dogwifhat Rises to Become the Third-Largest Meme Coin by Market Valuation
This week, the crypto asset dogwifhat (WIF), a meme coin, ascended to the third-highest valuation among all meme tokens. In the last day, WIF appreciated by 17% against the U.S. dollar and saw a 435% increase over the past 30 days. WIF Surpasses Major Competitors, Securing Third Spot Among Meme Coins In the recent week, […]
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Forget Dogecoin, Shiba Inu Set To Become The Top Dog: Expert Predicts $100 Billion Market Cap
Shiba Inu, the meme coin sensation, is making headlines once again. With its sights set on a major achievement – a staggering 0 billion market cap – Shiba Inu has captured the attention of the crypto community.
This audacious ambition has been fueled by data from IntoTheBlock, shedding light on the coin’s potential. Additionally, renowned investor Jake Gagain has made a bold prediction, further igniting excitement within the crypto community.
$SHIB Will Be The First 100 Billion MC Memecoin. pic.twitter.com/YogeSb2E7q
— JAKE (@JakeGagain) March 15, 2024
Shiba Inu: Growing Interest, Volatile Trading
According to analysis from IntoTheBlock, SHIB has witnessed a surge in the number of addresses holding the token. This surge indicates a growing interest and adoption of Shiba Inu among retail investors, who are eager to partake in the meme coin revolution.
Moreover, there has been a notable increase in the number of large transactions involving Shiba Inu tokens, suggesting institutional investors and whales are actively engaging with the coin.
IntoTheBlock’s data reveals a concentration of wealth among the top holders of Shiba Inu. Approximately 50% of the total supply is held by the top 100 addresses, indicating the potential influence these large holders may have on the market dynamics and price movements of Shiba Inu. This concentration of wealth can play a significant role in shaping the future trajectory of the coin.
Trading activity surrounding the memecoin has also been a focal point of the analysis. The data highlights the volatility of Shiba Inu’s trading volume, with periods of intense fluctuations followed by relative stability. This volatility can be attributed to various factors, including market sentiment, news events, and overall market conditions.
SHIB 0 Billion Milestone
In the midst of this excitement, renowned investor Jake Gagain has made a bold prediction: He firmly believes that Shiba Inu has the potential to surpass Dogecoin and reach a remarkable 0 billion market cap. This prediction has sparked both enthusiasm and skepticism, as the rivalry between Shiba Inu and Dogecoin intensifies.
Taking all these factors into account, the journey towards the billion-dollar market cap for Shiba Inu is not without its challenges. While the recent surge in market cap and the accumulation by large holders are positive indicators, the volatility and concentration of wealth present potential risks that need to be navigated.
Nevertheless, the resilience and determination exhibited by the memecoin, coupled with the growing interest from retail and institutional investors, provide a strong foundation for its pursuit of the 0 billion milestone.
Shiba Inu’s quest for a 0 billion market cap represents a paradigm shift in the world of meme coins. Backed by data from IntoTheBlock, which highlights growing adoption, concentration of wealth, and trading activity, as well as the bold prediction from Jake Gagain, SHIB has positioned itself as a formidable contender in the cryptoverse.
Featured image from Pixabay, chart from TradingView
CEO Of German VC Firm Predicts XRP To Become ‘World Reserve Bridge Currency’
Oliver Michel, CEO of Tokentus Investment AG, has made a bold assertion in the latest episode of Crypto Talk – a series produced for German television in collaboration with Der Aktionaer, regarding the future role of Ripple and XRP. Michel, leading one of Germany’s prominent venture capital firms, provided a deep dive into the operational excellence of Ripple Labs and the transformative potential of XRP within the financial sector.
Ripple IPO And XRP Price Expectations
Michel praised Ripple Labs for its professional management and strategic direction, aiming for a major initial public offering (IPO). He stressed the importance of Ripple’s approach to solving the inefficiencies of cross-border payments, distinguishing between the company’s operational framework and the utility of XRP.
“Ripple is a professional company […] It’s not a foundation where some people get together and say we’re going to do something. It’s a professional company with the ambition of a fairly large IPO,” Michel stated, emphasizing the solid foundation upon which Ripple builds its services.
Delving into the specifics of Ripple’s value proposition, Michel elaborated on the inefficiencies of traditional banking transactions across borders, highlighting the advantages of using XRP as a bridge currency.
He detailed, “You give it to the bank, exchange these euros for XRPs, put them on the ledger, i.e., on the blockchain, very quickly and without major costs […] This means that XRP is the bridge currency, XRP Ledger is the blockchain, the bridge and the liquidity pool.” This process, according to Michel, stands as a testament to Ripple’s innovative approach to leveraging blockchain technology for real-world financial operations.
Michel also shared insights into his investment strategy regarding XRP, noting his expectations for the cryptocurrency’s value. When queried when he plans to sell, he remarked, “I’ll think about it when it’s at . So, from now on, a tenfold increase. At , I think that would be super good.” These comments not only reveal Michel’s bullish outlook on XRP but also his nuanced understanding of the cryptocurrency’s market dynamics.
Michel further disclosed his dual investment in Ripple, holding both XRP coins and shares in Ripple Labs through Tokentus Investment AG and his family office. This strategic positioning underscores his confidence in Ripple’s dual offerings and his belief in their long-term potential.
“I have XRP coins, both in my family office and in Tokentus Investment AG. However, we also got involved in Ripple shares very early on, both via Tokentus and via the family office, via a preliminary company, via an SPV, a special purpose vehicle,” Michel elaborated, indicating a comprehensive investment approach towards the Ripple ecosystem.
German CEO Sees XRP As Global Currency Standard
Addressing the future of digital finance, Michel underscored the significance of XRP and Ripple’s On-Demand Liquidity (ODL) service in the evolving landscape of Central Bank Digital Currencies (CBDCs). He posited that Ripple’s infrastructure could become central to global financial systems, facilitating seamless and efficient transactions between central banks.
“This is actually the most exciting question […] If the banks work together via the backend, Ripple’s bridge technology is central, everything revolves around it,” Michel stated, highlighting Ripple’s potential to revolutionize financial transactions at a global scale.
Despite acknowledging the competitive landscape, including initiatives like the JP Morgan Coin, Michel’s confidence in Ripple’s unique value proposition remains unshaken. He concluded with a compelling vision for Ripple’s future, “If time plays in Ripple’s favor, then Ripple may well become the world reserve bridge currency.”
At press time, XRP traded at .57769 after being rejected at the 0.5 Fibonacci level once again.
ECB Economists: Bitcoin Fails to Become Global Decentralized Digital Currency, BTC’s Fair Value Is Still Zero
The European Central Bank (ECB) has published a blog post claiming that “bitcoin has failed to fulfill its original promise to become a global decentralized digital currency.” The ECB economists who authored the post added that bitcoin’s fair value is still zero and bitcoin transactions are “still inconvenient, slow, and costly.” Moreover, they asserted that […]
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Arbitrum (ARB) Faces Potential Selling Pressure As 1 Billion Tokens Become Unlocked In March
Arbitrum, the cryptocurrency network designed as a scalability solution for the Ethereum blockchain, has recently experienced a notable price correction, resulting in a drop in its native token, ARB. Over the past 24 hours, the token’s value dipped to .84, marking a retracement of 5%.
As February draws to a close, attention is now turning to the potential downside price action expected in March as a substantial number of ARB tokens are set to be unlocked.
Major Unlock Event Looms For Arbitrum
According to a recent announcement on X (formerly Twitter), more than 1.11 billion ARB tokens, estimated at .24 billion, are scheduled to be released on March 16, 2024.
This unlocking event signifies the beginning of a four-year phased unlocking process, which will gradually release a certain number of tokens every four weeks until 2027.
The total number of tokens in circulation for Arbitrum currently stands at 1.275 billion, meaning the unlock will release an equivalent of 87% of the circulating supply, nearly quadrupling it to 2.375 billion tokens.
Token unlocks, especially when they exceed the average daily trading volume, can act as bearish catalysts for token prices as they introduce additional liquidity into the market. This influx of tokens can create inflationary pressures, leading to increased volatility and speculative trading.
However, to fully understand the potential impact on ARB, it is crucial to examine historical data that sheds light on the token’s price performance following previous unlocks.
According to Token Unlocks data, there has been only one cliff unlock event for ARB tokens in the past. Analyzing the price impact that followed this unlock provides valuable insights.
On the first day after the unlock, the price of ARB experienced a 3% increase, indicating positive market sentiment and initial demand. Subsequently, the token’s price gradually declined, reaching a low of -21% approximately 21 days after the unlock event.
However, at around the 25-day mark, the price began to recover significantly, skyrocketing by 19% above the unlock-day level.
These historical patterns suggest that while ARB may face initial downward pressure following the upcoming unlock, there is a potential for recovery and positive price movement in the following weeks. Nevertheless, it is important to note that market conditions and investor sentiment can vary, and past performance may not necessarily indicate future outcomes.
ARB Price Analysis
In the event of a potential 20% price decline from the current level of .84, ARB may face selling pressure and a lack of demand. To safeguard its current all-time high (ATH) of .4, bulls must defend major support walls.
Forecasting a potential dip to around .44, the next crucial support level for bulls to monitor is .42. This support level would be the last line of defense before a potential further decline to the subsequent support line at .25. If both levels fail to hold, the mark would be at risk, with the last support for bulls at the .102 level.
It is important to note that the token unlock event’s outcome and ARB’s subsequent price action remain uncertain.
Additionally, the crypto market is bracing itself for the Bitcoin (BTC) halving event, which could introduce additional volatility to the overall market as the event draws nearer.
Featured image from Shutterstock, chart from TradingView.com
Torrevieja to Become the First Crypto Friendly City in Spain
Torrevieja, a city of almost 90,000 inhabitants, aims to become one of the first crypto-friendly locations in Spain. The city, in alliance with Apymeco, its merchant association, will incentivize using cryptocurrency as a payment option and give courses for stores interested in learning how to receive and use cryptocurrency. Torrevieja to Incentivize Crypto Adoption Torrevieja, […]
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Bitcoin Has Become World’s ‘Most Popular Investment Asset,’ Says Microstrategy Chairman
Microstrategy’s executive chairman, Michael Saylor, has explained why bitcoin has become “the world’s most popular investment asset.” He noted that following the rebalancing after the launch of spot bitcoin exchange-traded funds (ETFs), the crypto has “found its footing and now people are beginning to realize that there’s 10 times as much demand for bitcoin coming […]
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Will $100,000 Per Bitcoin Become Reality? Top Crypto Visionary Thinks So
A notable figure in the crypto sphere, Blockstream CEO Adam Back, recently highlighted the potential for Bitcoin to rise to 0,000 with a compelling visual metaphor.
Halving To Drive Bitcoin To 0,000
Back, whose work was acknowledged by Satoshi Nakamoto in the Bitcoin whitepaper, posted an image of a car’s side mirror with a text reading “0k BTC.”
Accompanied by the caption “laser ray ’til halving day Bitcoin,” this post has sparked a wave of optimism within the community. The mirror warning image suggests that Bitcoin reaching 0,000 might be closer than it appears, a sentiment echoed by many anticipating the next halving event.
laser ray ’til halving day #bitcoin @CedYoungelman pic.twitter.com/wj1QbNrPQH
— Adam Back (@adam3us) February 5, 2024
Bitcoin halving, a fundamental aspect of its design, is an event that occurs approximately every four years, halving the reward for mining new blocks. This mechanism reduces the rate at which new BTCs are created, effectively limiting the supply and often leading to bullish market sentiment.
Historically, halving events have been precursors to substantial price increases in Bitcoin’s value, as the reduced supply heightens investor demand. The anticipation of these market movements often creates a flurry of activity and speculation, contributing to price volatility in the months leading up to and following a halving.
Crypto analysts and enthusiasts closely watch these cycles, speculating on the potential impacts each halving might have. The consensus is that these events create a scarcity effect, potentially driving up Bitcoin’s value as the supply of new coins diminishes.
Analysts Weigh In On Bitcoin’s Future Trajectory
Amid this backdrop of halving anticipation, several analysts have offered insights into Bitcoin’s future price trajectory. Crypto analyst Michaël van de Poppe has shared his perspective, suggesting that Bitcoin might experience range-bound trading in the coming months.
Van de Poppe predicts a possible climb towards ,000 pre-halving, followed by a consolidation period before a breakout towards a new all-time high in the latter half of 2024.
#Bitcoin stuck in a range, markets are in an equilibrium.
I’d be looking at the range-bound construction for the coming months.
Pre-halving a final run towards K, after that consolidation, before the breakout towards an ATH in Q3/Q4 of 2024. pic.twitter.com/jZznulSiwJ
— Michaël van de Poppe (@CryptoMichNL) February 5, 2024
Similarly, renowned crypto hedge fund manager Charles Edwards of Capriole Investments has put forth an even more ambitious forecast. Edwards anticipates Bitcoin reaching 0,000 in the upcoming year, a prediction aligning with the bullish sentiment prevalent in parts of the crypto community.
If Bitcoin’s post Halving returns are the same as 2020, we are looking at 0K Bitcoin next year.
You might reasonably argue this cycle’s returns are less than 2020.
However, I believe the 2020 cycle performance was mediocre and an outlier. pic.twitter.com/pzOkAd0ORm
— Charles Edwards (@caprioleio) February 5, 2024
However, the current market paints a more tempered picture. Bitcoin has been between ,000 and ,000 over the past week, exhibiting a modest 5.4% increase over the last two weeks. Despite this, the asset’s current price has shown a slight downturn, with a market price hovering around ,657, down by nearly 1% in the past day.
Featured image from Unsplash, chart from TradingView