The Runes-based meme token DOG•GO•TO•THE•MOON, initiated by Leonidas, the founder of Ord.io, has reached a new pinnacle in its journey. It has ascended to become the 8th-largest meme coin by market capitalization. The token, which combines the fun of a meme coin with the trust of Bitcoin and the efficiency of the Runes protocol, has […]
Bitcoin News
Coingecko Study: Low-Float Cryptocurrencies Make up 21.3% of Top 300 by Market Capitalization
According to the findings of a Coingecko study, low-float cryptos currently account for 21.3% of the top 300 cryptos by market capitalization. The four cryptos with the lowest float are worldcoin (WLD), cheelee (CHEEL), starknet (STRK), and saga (SAGA) which were all launched in 2023 or 2024. However, among the top 300 cryptos, 74 have […]
Bitcoin News
ERC-404 Sector Plunges: Market Capitalization Drops By 29% In 24 Hours
Surprisingly, the newly introduced Ethereum (ETH) token standard, ERC-404, made an impressive debut in the crypto market, outperforming many other digital assets.
However, as Bitcoin (BTC), the dominant cryptocurrency, began to rally, investors swiftly shifted their focus to the king of crypto. Consequently, this shift led to notable price drops and market capitalization declines across the ERC-404 ecosystem and its associated tokens.
From Skyrocketing Surges To Sharp Corrections
According to data from CoinGecko, the ERC-404 sector has experienced a significant decline, with an overall market capitalization drop of 29% in the past 24 hours.
Key tokens within this sector, including PANDORA, DeFrogs, RUG, Froggy Friends, and Crystal, have all witnessed substantial price decreases. PANDORA, which had garnered attention and speculation, surged by a staggering 12,000% within a week.
Opening at 0 on February 3, 2024, its value skyrocketed to over ,000 per token by February 9, 2024. However, it dropped by 38% from its all-time high (ATH) in just 24 hours.
On the other hand, Crystal suffered the most significant losses, with its price plummeting by 28.4% and trading volume declining by over 35%. These figures indicate a stark decline in market activity for the token. Currently, Crystal is down more than 51% from its ATH of 2.74, exemplifying the inherent volatility of the ERC-404 sector.
Following closely behind, Froggy Friends experienced a 16% drop in trading volume and an 81% decrease in price from its peak of 3. CoinGecko data reveals that Froggy Friends currently trades at 0 per token.
But what are the ERC-404 token standards? And what is causing the price and market capitalization to drop?
Navigating The ERC-404 Ecosystem
Ethereum, known for its smart contract platform, has been a breeding ground for various token standards. While ERC-20 and ERC-721 gained widespread adoption for fungible and non-fungible tokens (NFTs), a new contender emerged: ERC-404.
Named after the popular website error code “404,” ERC-404 introduces the concept of “semi-fungibility” to Ethereum. It combines the divisibility of ERC-20 tokens with the uniqueness of ERC-721 tokens, bridging the gap between these two types.
ERC-404 tokens are associated with specific NFTs, allowing fractional transfers of linked NFTs. Full ownership results in minting the linked NFT to the holder’s wallet, while fractional transfers trigger the burning of the associated NFT. New NFTs are automatically minted when sufficient fractions are accumulated to form a complete token.
DN-404 Prepares To Challenge ERC-404’s Dominance?
According to a recent report by The Block, transaction fees increased as ERC-404 tokens gained traction, prompting developers to work on an alternative implementation called Divisible NFT (DN-404).
This new standard aims to optimize code and reduce transaction fees, addressing the rising costs associated with ERC-404 tokens. The DN-404 implementation is set to be released soon, potentially alleviating network congestion caused by the influx of ERC-404 tokens.
While there were initial discussions between the Pandora team, the creators of ERC-404, and the developers working on DN-404, the two groups did not reach an agreement and are not collaborating, according to the report.
This introduces uncertainty for traders and investors who navigate between supporting the original ERC-404 or the upcoming DN-404 implementation.
Overall, the introduction of ERC-404 brought excitement and volatility to the crypto market. While semi-fungibility and fractional transfers of linked NFTs hold promise, challenges such as rising transaction fees and the emergence of DN-404 have impacted the ERC-404 ecosystem.
Traders and investors now face the dilemma of choosing between the original implementation and the upcoming alternative. As the market evolves, it will be interesting to see how the ERC-404 sector adapts and whether it can regain stability and investor confidence.
Featured image from Shutterstock, chart from TradingView.com
Bitcoin Taps $44,000, Surpassing Meta and Berkshire Hathaway in Market Capitalization
On Tuesday, bitcoin’s price soared past the ,000 mark, peaking at ,011 per unit. In the last month, the leading cryptocurrency by market capitalization has seen a surge exceeding 24%, and 17% in just the past two weeks.
BTC Breaks Through K Barrier, Reaching Peak Levels Since Pre-Terra Crash
This week, bitcoin has been on a remarkable ascent, escalating 14% against the U.S. dollar. On December 5, Tuesday, BTC achieved a zenith of ,011 at 12:15 p.m. Eastern Time. Currently, BTC’s trading volume stands at .68 billion, a figure that is twice as high as the previous day’s. The trading range for bitcoin during the day fluctuated from ,453 to a little over ,000.
The value of BTC hasn’t reached these heights since April 6, 2022, before the Terra market collapse. Despite a trading volume of billion, BTC’s dominant trading pairs are USDT, FDUSD, USD, USDC, and KRW. Today’s top exchanges for global BTC trading volume include major platforms like Binance, Kraken, Coinbase, and Bitfinex.
BTC’s trading volume on Tuesday ranks second, trailing only behind the stablecoin tether (USDT). The recent surge in crypto prices has led to the liquidation of 0 million in shorts over the last 24 hours. Of these, approximately .34 million originated from bitcoin (BTC) short positions. The ascendancy of this crypto asset has propelled its market dominance to 51.3% amidst a combined value of over .65 trillion across more than 10,000 assets.
Moreover, bitcoin has eclipsed the market capitalization of Meta, following its overtaking of Berkshire Hathaway’s total valuation. This latest price increase positions BTC as the ninth-largest asset in terms of market valuation, a list that includes companies, precious metals, and exchange-traded funds.
What do you think about bitcoin tapping the K mark on Tuesday? Let us know what you think in the comments section below.
DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization
Makerdao’s DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to .304 billion. DAI’s market valuation on Friday, June 16, 2023, is approximately .394 billion, but the number of circulating DAI has decreased by 5.7% since last month.
Stablecoin Rankings Shuffle: DAI Ascends to Third-Largest Stablecoin Position
In May 2022, terra usd (UST), now known as terra usd classic (USTC), decoupled from its parity, causing its value to plummet by over 98%. As a result, BUSD emerged as the third-largest stablecoin asset. Additionally, the stablecoin token issued by Paxos held a position among the top ten largest crypto assets by market valuation for several months, until February 13, 2023, when the New York Department of Financial Services (NYDFS) instructed the company to halt the minting of BUSD.
Since then, a substantial amount of BUSD has been redeemed, with data indicating that approximately 11.8 billion BUSD has been burned following the NYDFS order. However, up until this week, or around June 15, 2023, BUSD continued to hold its position as the third-largest stablecoin. Today, that is no longer the case, as DAI has officially taken its place as the third-largest dollar-pegged token, boasting a market valuation of .394 billion.
BUSD‘s present market valuation is approximately .304 billion, which is approximately ,993,165 lower than DAI‘s market valuation. Furthermore, DAI distinguishes itself from the two largest existing stablecoins, USDT and USDC, as it requires collateral to be locked up in order to generate new DAI tokens.
The project is also characterized by over-collateralization, necessitating additional collateral for minting DAI, and redeeming DAI involves returning DAI tokens to receive the underlying collateral. In contrast, Tether and Circle act as central issuers for USDT and USDC, backing the tokens with collateral held by the issuers.
DAI’s minting and redeeming activity has leaned more towards the redemption side in recent times, resulting in a significant decrease in the number of stablecoins since February 2022. During that period, DAI‘s market valuation was approximately .8 billion, but today it has decreased by 55.16%. In the past month, BUSD has experienced a 22.5% reduction, while DAI’s circulating supply has dropped by 5.7%.
What are your thoughts on the rise of DAI as the third-largest stablecoin and the decline of BUSD? Share your thoughts and opinions about this subject in the comments section below.
Lido’s Staked Ethereum Token STETH Reaches $10.3B Market Capitalization, Ranks Ninth by Market Valuation
With the crypto economy experiencing significant gains over the past week and the price of ethereum rising 11.9%, the market capitalization of Lido’s staked ether has increased to .3 billion. This recent increase has propelled the token’s overall market valuation to the ninth-largest position, according to the crypto market capitalization aggregation website coingecko.com.
Lido Finance’s TVL Dominates Defi with a 21.59% Share
The value of liquid staking tokens associated with ethereum (ETH) has increased significantly over the last week following ether’s 11.9% gains against the U.S. dollar. In particular, Lido’s staked ethereum token, STETH, now has a market capitalization above the billion range, reaching .36 billion on Monday, March 20, 2023. According to coingecko statistics, STETH’s market valuation now ranks ninth, with dogecoin’s (DOGE) market capitalization holding the tenth position.
Above STETH is the market valuation of polygon (MATIC) at .42 billion. Currently, there is a circulating supply of around 5.8 million STETH, and over the past 24 hours, the token has recorded .35 million in global trades. The most active exchanges dealing with STETH on Monday are Bybit, Gate.io, and Huobi. STETH has gained 12.4% this week and 4.6% over the past 30 days.
Currently, Lido Finance’s website estimates that STETH stakers are receiving around a 5.9% annual percentage rate (APR) by staking the token. At the time of writing, Lido is the largest decentralized finance (defi) protocol out of the .01 billion total value locked (TVL) on Monday. Lido’s TVL accounts for 21.59% of the entire amount of value locked in defi. In the last seven days, defillama.com statistics show that Lido’s TVL has increased by 8.9%, and over 30 days, it has grown by 17.07%.
Defillama.com explains that on Monday, 7.83 million ETH worth .98 billion is staked in liquid staking protocols today. Lido’s STETH represents 74.51% of the aggregate. Coinbase’s Wrapped Ether token protocol has .1 billion in total value locked, or 1.16 million Ethereum. It is the second-largest liquid staking project in terms of TVL.
While STETH is shown on coingecko.com as the ninth-largest coin by market cap, this is not the case with other crypto market aggregation sites like coinmarketcap.com. Because it’s a synthetic version of Ether, some crypto market aggregation sites do not include STETH in the top ten, despite its capitalization size.
What are your thoughts on the increasing market capitalization of STETH and its role in the growing liquid staking ecosystem? Do you think STETH will continue to climb up the rankings of the top cryptocurrencies? Share your thoughts about this subject in the comments section below.
IVHIMPROM – Russia’s Oldest Chemical Producer With Leading Market Capitalization Launches Pilot Project With Credits Blockchain Platform
On September 20, the Credits blockchain platform project and one of the oldest Russian enterprises in the chemical industry, JSC IVHIMPROM, entered into a partnership agreement and announced the launch of a pilot project on the automation of the management of supply and product sales. The process of tracking the supply chain of raw materials and finished products are to be implemented using the software solutions of the Credits public blockchain platform.
The solution agreed upon by Credits and IVHIMPROM will allow for providing substantial control and automation of the delivery of products at all stages of the production process, which will largely ensure complete transparency of transactions and reduce transaction costs. The implementation of blockchain solutions will also make the database on shipments, deliveries, and operations fully immutable and tamper-proof, thus significantly increasing confidence and trust among suppliers, contractors and buyers. The use of the Credits blockchain basis will facilitate the supply chain process and will allow all parties to it to verify the quality of the services and products.
The implementation of blockchain solutions will become a significant competitive advantage for IVHIMPROM and will serve as a great incentive for its further growth in the chemical production market.
The Credits blockchain project is conducting continuous integration on the market of the chemical and oil industries as two more major petrochemical producers of the Russian market will soon be connected to its infrastructure.
The Ivanovo Chemical Plant IVHIMPROM is the oldest enterprise in the chemical industry founded in 1838 by merchant Lepeshkin in the city of Ivanovo. The enterprise has extensive ties with research institutes of the Russian Federation and has a modern developed infrastructure, including an innovation and technology center, production workshops, storage facilities and more.
Credits is an open-source and fully decentralized blockchain software platform operating on the basis of the PoA (Proof of Agreement) algorithm. The platform offers network capacities of up to 1 million transactions per second with transaction processing times at 0.1 seconds and low fees starting from 0.001 USD per transaction.
The post IVHIMPROM – Russia’s Oldest Chemical Producer With Leading Market Capitalization Launches Pilot Project With Credits Blockchain Platform appeared first on NewsBTC.
Litecoin Price Skyrockets Over 30% to $43, LTC Retakes No. 4 Spot by Market Capitalization
Following the recent downturn in the crypto markets, Litecoin (LTC) has skyrocketed nearly 30%, allowing it to claim the fourth spot by market capitalization ahead of EOS and Bitcoin Cash. Today’s market surge has been fueled by Bitcoin’s 8% jump that has sent its price to ,700.
Although Litecoin is showing a significant amount of bullish momentum, analysts note that it does face resistance at around , which may cause it to drop from its current prices.
Litecoin Price Jumps 30%, But LTC Faces Resistance Around Current Price Levels
At the time of writing, Litecoin (LTC) is trading up 30.8% at its current price of .3. LTC is currently trading up significantly from its weekly lows of and is down slightly from its daily highs of .90.
Importantly, analysts claim that despite Litecoin’s major price surge, it does face resistance around , which may prove to be a difficult price level to break decisively through unless the cryptocurrency garners a greater amount of buying pressure.
The Crypto Dog, a popular cryptocurrency analyst on Twitter, noted that he is selling his LTC at , and is waiting to see where it goes next before entering into any new long positions.
“But volume is really quite lacking on this move and a 50% retracement of a falling wedge is already a lot to to [sic] ask for… For now, I’m not looking for longs until further price action. Selling my $LTC here at ,” he explained.
MUCH nicer. But volume is really quite lacking on this move and a 50% retracement of a falling wedge is already a lot to to ask for.
For now, I'm not looking for longs until further price action. Selling my $LTC here at . pic.twitter.com/oLQyRhcSez
— The Crypto Dog
(@TheCryptoDog) February 8, 2019
DonAlt, another popular analyst on Twitter, also noted that LTC/BTC is nearing resistance at 0.015 BTC, which is slightly higher that LTC’s current price of 0.0117 BTC.
“$LTC… Next significant resistance I’m watching is 0.015,” he said.
Imagine not trusting a random Twitter duck with all your money.
I couldn't be like that.
Next significant resistance I'm watching is 0.015. pic.twitter.com/FePX7k5XPd— DonAlt (@CryptoDonAlt) February 8, 2019
Litecoin Price Surge Not Unexpected
As previously reported by NewsBTC, analysts have recently claimed that Litecoin would likely see some major price gains in the near future, with Moon Overlord, another popular cryptocurrency analyst on Twitter, telling his followers on February 3rd that he was targeting around for LTC.
Targeting around for $LTC | $LTCUSD on high TFs pic.twitter.com/ZMJDe1PAc0
— Moon Overlord (@MoonOverlord) February 3, 2019
DonAlt also shared a similar sentiment regarding LTC in early-February, noting that he saw its price action as being “ultra bullish.”
There she goes.
One more resistance to break and then the sky will be clear.
I'm rarely ultra bullish at resistance but when the chart looks that nice it's the way to go. pic.twitter.com/ZaulAblvdT— DonAlt (@CryptoDonAlt) February 2, 2019
Entire Crypto Markets Surge
Although Litecoin is leading the markets, virtually all major cryptocurrencies have climbed today, erasing a significant amount of their recent losses.
At the time of writing, Ethereum is trading up nearly 15% at its current price of 0. Ethereum has strongly respected the 0 mark as a level of support over the past couple of weeks.
XRP is trading up nearly 8% at its current price of .315, up from its recent lows of .28. It is important to note that XRP has historically found support around .28, which will likely continue to act as support over the long-term.
Alex Krüger, a popular cryptocurrency analyst on Twitter, discussed the crypto markets latest surge, noting that the past 20 days of losses have been wiped out in a mere few hours.
20 days of grinning bears wiped out in a few hours. Only in crypto. $BTC + 10%, $ETH + 19%, $LTC +35%.
— Alex Krüger (@Crypto_Macro) February 8, 2019
As the markets head into the weekend, it is likely that traders and investors will gain greater insight into whether or not there is enough buying pressure to sustain today’s upwards momentum.
Featured image from Shutterstock.
The post Litecoin Price Skyrockets Over 30% to , LTC Retakes No. 4 Spot by Market Capitalization appeared first on NewsBTC.
ICO Market 2018 vs 2017 Trends, Capitalization, Localization, Industries, Success Rate
n 2018 encompassed the best and the worst for ICOs Almost 2,300 ICOs ended during the year, fundraising climbed to .75 billion in March but felt to .36 billion in November. Are ICOs dead or just waiting for a new rallyn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Cryptocurrency Market Update: Crypto Capitalization Holding $200 Billion
FOMO Moments
Still no market momentum for Monday, Aurora shoots for the moon, Mixin gets minced.
Monday morning is witnessing virtually no action on crypto markets. They have shown no real movements since the end of last week. Total market capitalization is just over 0 billion and has held that level for the past three days.
Bitcoin is static and has not been able to push towards the next resistance level. BTC is currently trading at ,480, down very slightly from yesterday. Technicals are indicating more bearish momentum which could drop Bitcoin back to below ,400. Ethereum also has not moved and is hovering just about 5 at the time of writing.
Altcoins are mixed, half red half green with very little gains or losses either way at the moment. In the top ten Stellar is up almost 2% to .204 while Bitcoin Cash has made 1.5% to trade at 5. The rest have not moved since yesterday.
The top twenty shows that only Dash has made any real gains and that is just 4%. It is rapidly catching Cardano which is about to drop out of the top ten. Falling back are Tezos and VeChain which have both dropped 2.5% on the day.
There are a few altcoins pumping at the moment and the one at the top is Aurora. AOA has been climbing all week and is up 70% on the day to .036. It has just been listed on KuCoin which is driving today’s momentum;
【Announcement】AOA is listed in KuCoin Plus Trading Area
AOA will launch AOA/USDT trading pair on KuCoin Plus Trading Area at 6PM on September 18, 2018 (UTC+8).#Kucoin #Aurora #AOA pic.twitter.com/6HCMDXQxNl
— AuroraOfficial(AOA) (@AuroraOffic_en) September 17, 2018
Since last Monday Aurora has made 180%. FunFair, PowerLedger and Waltonchain are all up 10-13 percent on the day. At the red end of the table for the top one hundred is Mixin getting minced 17% on the day. GAS and Theta Token are also dropping 7-8 percent over the past 24 hours.
There has been very little change in total crypto market capitalization over the weekend. From a climb to over 4 billion a few hours ago it has dropped back to just over 1 billion which is a fraction below yesterday’s levels. Trade volume is currently low also at just over billion.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Cryptocurrency Market Update: Crypto Capitalization Holding 0 Billion appeared first on NewsBTC.