Having achieved its highest value ever on March 5, 2024, precisely at 10:03 a.m. Eastern Time (ET) on Tuesday, the price of bitcoin has declined by more than 11% against the greenback at 3:00 p.m. ET. Currently, bitcoin boasts a global trading volume of .34 billion, contributing to the total 5 billion exchanged throughout the […]
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XRP Price Soars: Analyst Predicts Surge Beyond $200
In spite of a slight adverse trend in the crypto market, XRP has been gradually rising in recent days, fueling positive and bullish predictions from market analysts to unprecedented heights.
XRP Might Rally To New All-Time High Sooner Than Expected
Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism towards XRP, sharing a daring prediction regarding the crypto asset’s future with the community on the social media platform X (formerly Twitter).
According to the crypto expert, XRP might be poised to undergo a significant movement that will send prices to unprecedented heights, where he highlighted that there is a possibility that XRP can rally beyond the 0 price mark.
Marks noted that the digital asset is presently experiencing “another set of higher lows” that are holding. In addition, he pointed out that “another breakout” has taken place in the XRP chart.
As a result of this, XRP could witness “a massive upward movement” to New All-Time highs (ATHs), which Javon Marks expects to commence soon.
The post read:
A 0+ XRP (Ripple) can be possible. Another set of Higher Lows are holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.
The crypto analyst’s analysis aligns with a historical trend that had previously occurred in 2018, sending XRP’s price to its current ATH of .3. Prior to the surge, the token fell from the December 2013 high of .06, creating a bearish declining trendline.
For several years, XRP was below this declining trendline, with two unsuccessful breakout trials during that timeframe. Nonetheless, after failing to break out twice, the coin persisted and managed to break out in 2017.
After this breakout, it increased by over 63,000% to its present all-time high price of .3. Based on Mark’s predictions, it indicates that this precise trend is manifesting right now.
However, some community members have expressed their displeasure with the analyst’s projections. A pseudonymous X user disagreed with Marks saying “It does not make any sense” given the “basic tokenomics” of the crypto asset.
The Crypto Asset Poised For A Move Above .60
Cryptocurrency analyst Ali Martinez has underscored the potential for XRP to move past the .60 price mark. According to his post, Martinez’s position was influenced by the observation made by the Tom DeMark (TD) Sequential.
He stated that the TD Sequential indicator has formed a buying signal on the token’s chart. Consequently, this indicates a possible bullish momentum for XRP to move higher.
He further asserted that if it manages to maintain its weekly close above .57, it could serve as a catalyst for an upswing to .63 or even further, setting his target at .65
As of the time of writing, XRP was trading at .538, demonstrating a decline of 1.39% in the past day. Its market cap is down by 1.42%, while its daily trading volume is up by over 4%, according to CoinMarketCap.
Beyond Bitcoin: Ripple CEO Says Approval of Multiple Crypto ETFs ‘Inevitable’ — Embraces Idea of Spot XRP ETF
Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot exchange-traded funds (ETFs) based on crypto tokens other than bitcoin. “I think it’s inevitable that there’ll be multiple ETFs around different tokens,” he stressed, noting that Ripple would welcome an XRP ETF. “In my opinion, it makes these markets […]
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Coinbase Vaults Beyond 1 Million Bitcoin Mark, Stash Valued Over $52 Billion
On Friday, Feb. 16, 2024, bitcoin’s value hovered between ,850 to ,350, with onchain insights from Arkham Intelligence revealing that the Nasdaq-listed crypto exchange giant, Coinbase, now possesses over 1 million bitcoin. Based on the current market prices, the stash secured by the San Francisco-headquartered firm is valued at just above billion. Coinbase Outshines […]
Bitcoin News
Bullish on Bitcoin: Global Survey Respondents Anticipate BTC Price Spike to $60K and Beyond in 2024
A recent international survey by Bitget has illuminated the crypto market’s hopeful perspective, drawing insights from close to 10,000 individuals across areas such as West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin America. More than half of the participants globally anticipate that bitcoin prices will hover between ,000 and ,000 during the halving period (around April 2024), while 30% foresee the price exceeding the ,000 mark.
Bitget Survey Shows High Optimism Among Crypto Investors
Bitget’s latest survey shared with Bitcoin.com News, uncovers a robust conviction in bitcoin’s capacity to outdo its previous peak by 2024, with 84% of investors foreseeing substantial growth preceding the forthcoming halving occurrence. The approach adopted by Bitget for this survey facilitated a thorough grasp of the worldwide investor sentiment regarding crypto assets.
Engaging nearly 10,000 people from diverse regions, the study offered a broad perspective on the anticipated future value of bitcoin (BTC) and the crypto market at large. This varied group of participants highlights the extensive enthusiasm and hope placed in digital currencies as a legitimate investment option, mirroring a global agreement on the likelihood of significant market expansion.
The Bitget study on the impact of Bitcoin’s halving “provides valuable insights into the evolving landscape of cryptocurrency investment,” Gracy Chen, Bitget’s managing director remarked. “The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the bitcoin market.”
The survey’s results underscore a dominant belief among investors in bitcoin’s journey towards new price highs. With the anticipation of the fourth reward halving event as a pivotal juncture, the majority view this occasion as a critical turning point for the premier cryptocurrency, potentially propelling it to unprecedented levels.
Such optimism is supported by historical patterns, where previous halvings have triggered notable market surges, solidifying the positive expectations held by the survey’s contributors. Beyond optimistic forecasts for bitcoin’s pricing, the survey also illuminated investment trends, with 70% of respondents aiming to bolster their crypto asset holdings in the coming year.
This intention is particularly pronounced among individuals from MENA and East Europe, showing a more pronounced eagerness to augment their investments in digital currencies. Bitget’s survey additionally highlights a “short-term cautious, long-term optimistic” outlook among investors from Western Europe.
What do you think about Bitget’s global survey? Let us know what you think about this subject in the comments section below.
Animoca Brands’ Darewise Entertainment, Creator of Life Beyond, Announces Strategic Partnership With DFZ Labs, Creator of Deadfellaz
PRESS RELEASE. Darewise Entertainment (“Darewise”), a subsidiary of Animoca Brands and the visionary force behind the Life Beyond gaming destination, announced today a strategic partnership with DFZ Labs, creator of the world-renowned Web3 brand Deadfellaz.
Darewise and DFZ Labs have entered into partnership to support each other’s growth by sharing their expertise in Web3 with each other through an advisory framework as well as expanding their respective communities of Web3 players.
The Deadfellaz community, affectionately known as the Horde, is highly active in the streaming and content creation ecosystem, utilizing their Streamingfellaz (animated rigged avatars created by Hologram Labs) to showcase streamers’ gameplay from Web2 and Web3 on platforms including Twitch and YouTube.
Under the partnership, the streamers’ avatars and content will be utilized to showcase their offerings from Life Beyond, such as the upcoming BOTS game, and the Alpha and Beta versions of Life Beyond that will be available in Q2 and Q4 2024, respectively. For details please visit playlifebeyond.com.
To celebrate the partnership, Darewise has acquired three Deadfellaz PFP NFTs and 50 Packs of NFTs of an upcoming Deadfellaz Trading Card Game which will be used for community battles and engagement.
Betty, CEO of DFZ Labs (Deadfellaz), said: “Collaboration is one of the foundational cornerstones of Web3, and it is a huge honor to envision something new and build it alongside such visionary peers as Darewise and Animoca Brands. The exchange of value between our companies means we each benefit from our respective expertise, which grows the entire ecosystem and pushes what we build forward, together. Huge thank you to the Darewise team!”
Benjamin Charbit, CEO of Darewise Entertainment, commented: “The Deadfellaz brand is one of the most recognized IPs in the Web3 space thanks not only to its strong visual identity but also to the values it represents and its strong commitment to gaming and the empowerment of its community. We are looking forward to our working closely together and sharing each other’s expertise.”
-End-
About Darewise Entertainment
Darewise Entertainment, a subsidiary of Animoca Brands, is a Web3 game technology company founded by veterans of the AAA games industry that is currently developing the sci-fi MMO Life Beyond. Core team includes Benjamin Charbit (Game Director, Assassin’s Creed IV: Black Flag), Marc Albinet (Game Director, Assassin’s Creed Unity and Dying Light 2), Christian Bravery (Art Director, Black & White, and the Fable series), Samuel Kahn (Tech Lead, Ubisoft’s Snowdrop Engine and Crytek’s Cryengine) and Vincent Marty (Head of Marketing, Ubisoft EMEA _ VP ESL Gaming). Darewise Entertainment is a multicultural team with offices in Paris, Barcelona, and London. The company strongly believes in the positive power of online video games to create meaningful, interactive, and social experiences. For more information, visit https://darewise.com.
About Life Beyond
Life Beyond is a gaming metaverse where players embark on a journey to build a new civilization on Planet Dolos. In this sci-fi world powered by a player-driven tokenized economy, player-citizens can decide who they want to become and the role they want to play in Life Beyond’s complex and many-layered society. Developed and published by Darewise Entertainment, a subsidiary of Animoca Brands, the project embraces the open metaverse philosophy to create immersive experiences with an emphasis on true ownership and interoperability.
Website | Discord | Instagram | X (Twitter)
About DFZ Labs and Deadfellaz
DFZ Labs is a Web3 company pioneering the convergence of blockchain technology with storytelling, art and entertainment to create products and experiences that redefine the relationship between community and brand. Founded in 2021, DFZ Labs has a focus on digital identity, creator empowerment and embracing evolving technology. DFZ includes Deadfellaz, DFZ Gaming, and the upcoming TCG, codenamed ‘RIP TCG’. Deadfellaz has an active and vibrant community in Web3 and beyond – championing diversity, pop culture and progressive innovation. DFZ is led by award-winning co-founders Betty, and Psych – who bring their extensive background in creative production at a AAA level, community building, UX, UI and more to this partnership.
Website | Discord | Instagram | Twitter
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP
, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, Gryfyn, and Azarus. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more. For more information visit www.animocabrands.com or follow on X (Twitter) or Facebook.
CONTACT
Darewise Entertainment: Timothee@darewise.com
DFZ Labs: betty@deadfellaz.io
Animoca Brands: press@animocabrands.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Franklin Templeton Eyes Broad Crypto Expansion Beyond Bitcoin, Foresees More ETP Filings
Franklin Templeton’s Head of Digital Assets, Sandy Kaul, foresees an increase in filings following the recent approval of 11 new spot bitcoin exchange-traded funds. Kaul highlighted that the firm, managing .5 trillion in assets, recognizes the “potential of this whole crypto domain.”
Franklin Templeton Sets Sights on Expanding Crypto Horizons
On social media this past week, the investment management giant Franklin Templeton discussed ethereum (ETH) and solana (SOL) in a series of tweets about crypto and blockchain technology. The company just launched its spot bitcoin exchange-traded fund (ETF) and presently the fund commands 1,160 BTC worth around million. In an interview with Bloomberg’s Kailey Leinz and Sonali Basak, the asset manager’s digital assets sector chief Sandy Kaul said the firm expects more filings to come.
“We see the potential of this whole crypto domain,” Kaul said. “So we will continue to evolve our product range and continue to offer our investors more opportunities to access this innovation and capture the beta of what we call this new protocol economy.” When queried about Franklin Templeton’s inclination towards ethereum (ETH), Kaul did not specify. However, she indicated that the public should expect additional exchange-traded product (ETP) filings from the asset management company. “You can anticipate that you will see more filings from us at some point,” she said.
“There are many coins with large market caps and why just stop with just bitcoin?” Kaul remarked. “I mean there are other opportunities and they are different opportunities. Ethereum is another asset in the crypto domain that offers a slightly different value proposition than bitcoin because it’s more of an app development platform and it fosters its own ecosystem. So that’s a slightly different investment proposition than bitcoin.” The Franklin Templeton executive added:
In all portfolio theory, it is better to have multiple assets in a portfolio rather than a single-asset portfolio. So it would not be reasonable to expect that bitcoin is going to be the only asset that moves into vehicles that make it easier for investors to put money into this space.
The Bloomberg show hosts also inquired with Kaul regarding BTC’s categorization, likening it to a commodity similar to gold. “I think there’s some truth to that because there’s this digital scarcity programmed into Bitcoin where you only get 21 million coins ever going to be created. And you can track every one of those coins through a decentralized process, so no one can control that supply. So I think there’s some good analogies that can be drawn to the gold situation.”
Kaul wrapped up the discussion by touching on BTC’s volatility, observing that the digital asset’s price swings bear a resemblance to those in the commodities market. “I think that the volatility that you see in bitcoin markets is often similar to the volatility that you will see in commodity markets,” Kaul remarked. Responsible trading firms like Franklin Templeton know how to handle that type of volatility, and we get into these markets every day on behalf of our investors. I think that this is a great opportunity for them and there’s a lot they can relate to with this investment, even if they don’t understand bitcoin.”
What do you think about the interview with Franklin Templeton’s digital assets lead Sandy Kaul and her comments? Share your thoughts and opinions about this subject in the comments section below.
PlanB’s Market Cycle Analysis: Bitcoin Gears Up For Skyrocketing Beyond $100,000
In a recent post that echoes his previous analysis, the renowned Stock-2-Flow (S2F) model creator, PlanB, highlighted a pivotal phase transition in the Bitcoin market. However, it may remain unrecognized by many.
Reflecting on his analysis from January of the previous year, PlanB recalled his declaration that the bear market phase had ended and an accumulation phase had commenced. Despite this, many at the time were still anticipating a fall to a Bitcoin price of ,000.
Consequently, even as the analyst’s model signals a phase transition for Bitcoin, skepticism may still cloud the perception of many in the market.
Bitcoin Enters A Phase Transition, Poised For Rally
Despite the market movement, PlanB’s Bitcoin Market Cycle Model chart indicates that the flagship cryptocurrency has been in an accumulation stage. This critical period of consolidation began in early January last year, according to PlanB, aligning with the analyst’s earlier assertion that the bear market had concluded at that time.
The accumulation phase is typically marked by increased buying activity, often by long-term investors or ‘whales,’ laying the groundwork for future price surges.
PlanB’s analysis, shared earlier last year, suggests that Bitcoin had bottomed out in November 2022, with a low of ,500. The analyst posits that the trajectory for Bitcoin is set for substantial growth leading up to the 2024 halving and the ensuing bull market in 2025.
The best thing about this bitcoin market cycle model is that only a few will believe it when it detects a phase transition. For example, when I tweeted on Jan 12 that the bear market (green) was over and the accumulation phase (blue) had begun, many were still calling for 10k. https://t.co/V74Y8VYCVo pic.twitter.com/l2uuFaVr14
— PlanB (@100trillionUSD) January 16, 2024
PlanB forecasted in the post shared last January that Bitcoin’s value would trade above ,000 post-halving and even reach or surpass the 0,000 mark in the bull market in 2025.
Further Surge Ahead
The bullish sentiment is further echoed by PlanB’s recent predictions, including a pre-halving surge, a rally following the approval of spot Bitcoin exchange-traded funds (ETFs), and a monumental peak anticipated in the coming years.
His YouTube video outlines a short-term forecast of Bitcoin soaring beyond ,000 leading up to the April halving.
Peering into the future, the creator of the S2F model, PlanB, anticipates that BTC will surpass its previous highest value, potentially achieving a price point of 0,000 within the year. This forecast further gains credibility with the recent approval of spot Bitcoin ETFs in the United States by the US Securities and Exchange Commission (SEC).
PlanB’s long-term vision for Bitcoin is even more audacious, projecting a climb to 2,000 by 2025. This forecast is underpinned by the analyst’s Stock-to-Flow (S2F) model.
I expect k bitcoin at halving, 0k in 2024, 2k in 2025:https://t.co/TSo7TpNfzb pic.twitter.com/mQaXM5Qabb
— PlanB (@100trillionUSD) January 10, 2024
The model suggests a future where BTC transcends its current status to become a dominant digital store of value, potentially reshaping the traditional financial landscape.
Featured image from Unsplash, Chart from TradingView
Bitcoin’s Ordinal Inscriptions Soar Beyond 55 Million, Achieving Third Highest Daily Record
Following the weekend, the tally of Ordinal inscriptions on the Bitcoin blockchain surpassed 55 million. Notably, on Jan. 13, 2024, the blockchain witnessed its third-highest day of inscriptions, settling an impressive 477,751 inscription-based transactions on Saturday. Additionally, from the inception of the first inscription in December 2022, bitcoin miners have amassed 6 million worth of bitcoin, capitalizing on this growing trend.
Miners Net 6 Million From 55 Million Inscriptions
From Dec. 28, 2023, to Jan. 12, 2024, the pace of daily Ordinal inscriptions on the Bitcoin blockchain moderately decelerated. However, a surge occurred on Saturday, Jan. 13, marking a record-breaking number of daily inscriptions. This date became the third-largest in terms of inscriptions, with an impressive 477,751 added to the blockchain. That day, approximately 652,483 transactions were processed, with inscriptions comprising a notable 73.22% of all miner-confirmed transfers.
Continuing the trend, on Sunday, Jan. 14, 2024, the blockchain saw another substantial 446,783 inscriptions being incorporated into the distributed ledger system. This indicates that, of the 591,806 verified transfers, a substantial 75.49% were inscription-based. Furthermore, following these two record-setting days, the total number of inscriptions impressively exceeded the 55 million threshold this weekend. Among these inscriptions, miners have accumulated a total of 5,750 BTC, valued at 6 million, based on the current BTC exchange rates.
Around .7 million in fees from inscriptions were paid to miners on Jan. 13 and the following day, miners accrued another .94 million. Bitcoin miners are reaping the benefits from fees paid by inscriptions and on Dec. 16, 2023, miners nabbed .9 million in fees. Moreover, the number of inscriptions per block has increased a great deal as minters have learned ways to fit in as many as possible. Data further shows that there are 278,296 recursive inscriptions on the chain as well.
Recursive ordinal inscriptions entail retrieving and incorporating data from existing inscriptions to craft new ones. In the realm of Ordinal inscriptions traded on non-fungible token (NFT) markets, Bitcoin has taken the lead in the past 30 days, boasting 9.53 million in digital collectible sales. Ethereum, previously the frontrunner in NFT blockchain, recorded 1.18 million in sales during the same period. Yet, on a weekly basis, BTC’s lead is marginal, with sales of .68 million, narrowly surpassing Ethereum’s .42 million.
What do you think about Ordinal inscriptions surpassing the 55 million mark and the third highest day of inscriptions on record? Share your thoughts and opinions about this subject in the comments section below.
Looking Deeper: Can ATOM Sustain Its 13% Surge Beyond The Network Buzz?
ATOM has ascended to the summit of network activity within the inter-Blockchain ecosystem. However, upon closer inspection, the narrative surrounding Cosmos unveils a more nuanced story. Despite the accolade of being at the forefront of blockchain network activity, a discerning analysis reveals a dip in actual user engagement and transaction volumes.
Surprisingly, against the backdrop of these statistics, Cosmos has witnessed a remarkable 13% surge in its token price over the past week, prompting a deeper inquiry into the factors propelling its momentum.
Digging Deeper: Beyond Buzzwords
Although Cosmos received accolades for its network activity, the narrative quickly unravels when scrutinizing actual user statistics. Daily Active Addresses and Transactions for ATOM, tracked by Artemis, experienced a noticeable decline, painting a different picture than the headline numbers suggest. Similarly, fees and revenue for the Cosmos network dipped during this period, further dampening the celebratory mood.
Despite the declining activity metrics, ATOM’s price defied the trend, showcasing a 6% gain over the last 24 hours, data from Coingecko shows. This disconnect highlights the influence of factors beyond user engagement, including the broader market bullishness and potentially, speculation fueled by a spike in ATOM’s MVRV ratio, a profitability indicator.
The Power Of Partnerships And Policy: Catalysts For Growth
While the overall market sentiment played a role, key developments within the Cosmos ecosystem also contributed to ATOM’s ascent. The recent merger between Osmosis and UX Chain solidified their foothold within the Cosmos landscape, bolstering cross-chain DeFi capabilities.
Additionally, the Cosmos Hub’s governance decision to reduce ATOM’s inflation rate from 14% to 10% addressed concerns surrounding stability and security, potentially attracting further investment.
Despite the recent rally, ATOM’s technical indicators paint a somewhat cautious picture. The daily chart presents a bearish MACD signal, and the Chaikin Money Flow’s sideways movement suggests a potential extension of the current price consolidation.
The Road Ahead: A Balancing Act
Cosmos faces the challenge of bridging the gap between headline-grabbing network activity metrics and actual user engagement. The recent decline in transactions and addresses raises questions about long-term sustainability. Nevertheless, the ecosystem’s strategic partnerships, focus on DeFi integration, and proactive governance decisions provide promising counterpoints.
As the new year approaches, ATOM’s trajectory will likely hinge on its ability to address user-centric metrics while leveraging its strategic alliances and proactive governance. Whether it can translate its headline dominance into sustained user engagement and price growth remains to be seen.
As Cosmos (ATOM) revels in its recent ascent to the peak of network activity within the inter-blockchain ecosystem, the question looms: can this momentum be sustained beyond the current buzz? The enigma surrounding Cosmos deepens as its 13% surge in value defies conventional metrics, prompting a cautious examination of the factors at play.
Featured image from Shutterstock