Bitcoin has once more surpassed its previous highest point of ,210, established on March 5, 2024, as documented by Bitstamp. Currently, the digital currency holds steady above the ,000 mark, having outdone its prior peak and ascended to ,184 per coin. New Peaks: Bitcoin Tops ,000 While Ethereum Briefly Crosses ,000 The value of bitcoin […]
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Will BTC Price Break ATH in March? Green Bitcoin’s Presale Approaches $2 Million Milestone
The crypto market is witnessing a remarkable rally once again. While meme coins like DOGE, SHIB, PEPE, and BONK have been stealing the spotlight with their massive price pumps, Bitcoin has also put on an impressive performance, surging 5% today and breaking through the crucial ,000 area ahead of the highly anticipated Bitcoin halving event […]
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Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%
The stablecoin sector experienced a .26 billion expansion within the last eight days, climbing from 0.82 billion to 4.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the five. Stablecoin Economy Rises 2.31% in […]
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Value Locked in Defi Nears $100 Billion Milestone Amidst Broad Market Uptick and Lido Dominance
Five days ago, the total value locked (TVL) in decentralized finance (defi) protocols exceeded the billion mark, and since that point, it has expanded by an additional .66 billion. As it hovers above the billion threshold, the TVL is approaching the 0 billion milestone, a figure not observed since before the collapse of […]
Bitcoin News
TRON Hits 95 Million Addresses Milestone, Will This Help Price?
On-chain data shows the total number of addresses on the TRON network has exceeded the 95 million mark, a major milestone for the blockchain.
TRON Addresses Carrying A Balance Have Broken The 95 Million Mark
According to data from the market intelligence platform IntoTheBlock, TRON has far left behind other layer 1 networks like Cardano and Avalanche regarding its address growth.
Here, the analytics firm has used the total number of addresses on the blockchain carrying some non-zero balance to keep track of this network growth.
When these addresses with a balance go up, it means that either fresh investors are joining the network or old holders are returning. Either way, such a trend can be a positive sign for any cryptocurrency, as it suggests that some net adoption of the blockchain is going on.
On the other hand, a decline in the metric implies some investors have decided to clear out their wallets, a potential sign that they have decided to leave the network behind.
Now, here is a chart that shows the trend in the total addresses with a balance for TRON over the past few years:
As displayed in the above graph, the total number of TRON addresses with a balance has been rising for a while now and has recently hit a new record of more than 95 million.
“Quite an impressive number, considering other layer 1 networks like Cardano and Avalanche have fewer than 10 million addresses,” notes IntoTheBlock. “Layer 1” blockchains handle transactions and security independently, without being dependent on other networks.
Given the pace at which the TRON network has seen addresses open up, it would appear that users have been preferring the blockchain to some of the other layer 1 networks.
Now, what this adoption might imply for the price of TRX can be complicated. The chart shows that adoption has been up for the asset for years, but this hasn’t exactly translated into its price.
One thing that’s usually certain about adoption is that it provides a solid foundation for the network and is a good sign that the asset will be around in the long term.
TRX Price
The cryptocurrency sector as a whole has been racing up recently, with Bitcoin leading the charge with its returns of 20% over the past week. TRON, however, has lagged behind the market, mustering only 3% profits in the same period.
The chart below shows that the coin is currently trading around the .14 level.
Regarding the market cap, TRX is currently the eleventh-ranked cryptocurrency. However, if the coin continues to be weaker than its competitors, it might slip down the list, as Chainlink (LINK), the twelfth largest coin, is currently closing the gap with its stronger returns.
Ethereum Price Grinds Higher, Will ETH Bulls Be Able to Hit $3K Milestone?
Ethereum price is showing positive signs above the ,850 support. ETH eyes more gains and might surge toward the ,000 resistance zone.
- Ethereum is slowly moving higher above the ,800 support zone.
- The price is trading above ,850 and the 100-hourly Simple Moving Average.
- There is a key bullish trend line forming with support at ,910 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move up toward the ,000 resistance zone.
Ethereum Price Remains Supported
Ethereum price remained well-bid and slowly moved higher above the ,850 level. ETH even cleared the ,920 resistance zone and outperformed Bitcoin.
However, there was no test of the ,000 resistance zone. A new multi-week high is formed near ,984 and the price is now consolidating gains. Ether is stable near the 23.6% Fib retracement level of the recent wave from the ,723 swing low to the ,984 high.
There is also a key bullish trend line forming with support at ,910 on the hourly chart of ETH/USD. Ethereum is now trading above ,850 and the 100-hourly Simple Moving Average.
Immediate resistance on the upside is near the ,940 level. The first major resistance is near the ,985 level. The next major resistance is near ,000, above which the price might rise and test the ,050 resistance zone.
Source: ETHUSD on TradingView.com
If the bulls push the price above the ,050 resistance, Ether could even rally toward the ,120 resistance. In the stated case, the price could rise toward the ,250 level in the near term. Any more gains might call for a test of ,350.
Downside Correction In ETH?
If Ethereum fails to clear the ,940 resistance, it could start a downside correction. Initial support on the downside is near the ,910 level and the trend line zone.
The next key support could be the ,850 zone or 50% Fib retracement level of the recent wave from the ,723 swing low to the ,984 high. A clear move below the ,850 support might send the price toward ,840 or the 100-hourly Simple Moving Average. The main support could be ,780. Any more losses might send the price toward the ,720 level in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – ,850
Major Resistance Level – ,940
Bitcoin Soars Past $49K, Eyes $50K Milestone Amid Global Trading Frenzy
Bitcoin’s spot market value leaped over the K threshold on Monday, breaking free from its initial trading confines of the day. The leading digital currency by market cap swiftly reached ,000, marking a 3.7% increase over the past day and a notable 15.6% rise throughout the week. Bitcoin Breaks K Barrier, Bulls Seek to Tackle […]
Bitcoin News
Bitcoin Price Nears $50,000 Milestone Again With 91% Of Addresses Now In Profit
Bitcoin is edging closer to the ,000 mark after a week of extreme bullish price action, a level not seen since December 2021. Amidst this price surge, the number of Bitcoin addresses in profit has now crossed over 90%.
According to data from IntoTheBlock, 91% of Bitcoin addresses are currently profitable. This means the vast majority of holders and investors have an incentive to continue holding, particularly as the next halving for Bitcoin miners approaches.
91% Of Bitcoin Addresses Now In Profit As Price Nears ,000
Bitcoin has had an eventful week in terms of price action. The world’s largest crypto recently grew by 14.4% to reach ,500 on February 11, its highest point in 26 months. This price spike, although highly welcome, seemed to have taken most investors by surprise considering it was coming off four weeks of unimpressive action after the debut of spot Bitcoin ETFs in the US.
Notably, IntoTheBlock’s “Global In/Out of the Money” profitability metric shows that the total number of addresses in profit is now at 46.87 million addresses, representing 90.53% of the total addresses. At the same time, 3.44 million addresses representing 6.64% are still posting losses, while 1.46 million addresses representing 2.83% of the total addresses are at the money or break-even point.
Similarly, IntoTheBlock’s “In/Out of the Money Around Price” metric which follows addresses that bought between ,919.92 and ,413.77, shows that a majority (83.17%) of addresses are in profit. This is a hugely bullish signal and shows that the majority of Bitcoin holders are well in the money. As the price continues climbing as the crypto approaches the ,000 mark, more and more addresses are likely to move into profit.
Bitcoin Set To Keep Shining
With over 90% of Bitcoin addresses now in profit and the price nearing ,000, it’s clear this bull run still has room to run. The bullish action last week saw BTC closing over ,000 on the weekly timeframe for the first time in the current market cycle.
BitMEX Research recently reported that spot Bitcoin ETFs now have over billion worth of BTC under management. There is a high probability that the price of the top coin continue to surge if the activity surrounding these exchange-traded funds (ETFs) continues at this pace.
Bitcoin ETF Flow – 9th Feb
All data out. Strong day at 1.5m of net inflow
Invesco had an outflow, the first non-GBTC product to have an outflow day pic.twitter.com/UCFDVAaKD3
— BitMEX Research (@BitMEXResearch) February 10, 2024
Another catalyst for a sustained price increase is the upcoming halving. Historically, Bitcoin bull runs leading up to each halving have always trended up and gone parabolic after the halving event. A similar trend could see the crypto asset reaching ,000 before the next halving in April and 0,000 before the end of the year.
Featured image from Adobe Stock, chart from TradingView
Ethereum Staking Reaches Historic Milestone As ETH Price Barrels Past $2,400
Ethereum staking has been ramping up despite the poor performance of the ETH price over the past year. Liquid staking protocols such as Lido Finance have continued to see the amount of ETH being staked rise, and as a result of this continued interest in staking ETH, the total amount of supply that has been locked so far has reached a new all-time high.
25% Of All ETH Are Now Staked
In an interesting turn of events, the total percentage of ETH supply that is being staked has crossed the 25% mark. This was made public by Lido Finance, which shared a screenshot of a Dune Analytics dashboard showing that it has touched the 25% mark.
Looking at the Dune Analytics dashboard, it shows that this figure continues to climb following this, with 25.08% of the total ETH supply now staked. This figure is facilitated by a total of 924,023 Ethereum validators that are currently running on the network.
Net flows have also gone against expectations and have been positive since the Shanghai upgrade. This upgrade allowed stakers to be able to finally withdraw their staked ETH. But rather than withdrawals happening en masse, more ETH has flowed into staking contracts.
Dune’s data shows that over 10 million ETH have flowed into staking contracts since the Shanghai upgrade. Currently, there are over 30.14 million ETH in total staked so far, and this figure seems to be rising fast.
Lido Dominates Ethereum Staking
Of the total 30.14 million ETH figure that has been staked so far, a large percentage are currently being staked through the Lido platform, as the Dune Analytics platform accounts for 31.52% of all staked ETH. This solidifies Lido’s position as the largest Ethereum staking platform, with over 297,000 validators on the protocol.
Coinbase follows behind Lido, accounting for 14.4% of the total ETH staked with more than 136,000 validators. This means that together, Coinbase and Lido Finance currently control 45% of the staked ETH market, giving them a head start over others.
Binance, another crypto exchange, is in third place, with 4.3% of all staked ETH and 41,000 validates. Kiln, Figment, and Rocket Pool control the 4th, 5th, and 6th positions, respectively, controlling between 2.8% and 3.3% of the total staked ETH.
Looking at the rewards so far, Ethereum stakers have made quite a lot since the initiative began. The total ETH earned so far by Lido stakers has crossed 467,000 ETH, with 259,000 ETH earned on Coinbase, and 139,000 ETH earned by Binance stakers.
The ETH price has also turned bullish during this time, beating the resistance at ,400. It is up 2.22% in the last day, with 7% gains in the last week, according to data from CoinMarketCap.
Another $2.5m Max Win on Bitcasino as It Celebrates 10-Year Milestone
PRESS RELEASE. February 7th, 2024, London, UK — The huge, max win prize dropped on Gates of Bitcasino, an exclusive game from Pragmatic Play created for Bitcasino players. Gates of Bitcasino is based on the classic slot title Gates of Olympus.
Lightning Strikes Twice
This latest win comes hot on the heels of a million record jackpot that was won on Bitcasino’s sister site, Sportsbet.io. That jackpot was the largest to ever be won on an online slot, and the lucky player was able to withdraw their winnings quickly and securely in less than 90 seconds.
Jacqueline Neo, Head of Bitcasino stated:
“What a way to celebrate ten years of Bitcasino! We couldn’t be happier to see this max win landing on an exclusive game that can’t be played anywhere else. A huge congratulations to the lucky player, and all those who won big prizes over the past year. We’re looking forward to more winners, and the next decade of game-changing action here at Bitcasino.”
Both Bitcasino and Sportsbet.io are quickly building a reputation as the places to win the biggest online casino jackpots. In 2023, an incredible 14 big wins in excess of million were won by Bitcasino players.
Watch a replay of the winning spin here.
10 Years and No Sign of Slowing
The timing of the .5 million max win couldn’t have been better, as Bitcasino marks ten years since it changed the game by launching as the world’s first licensed crypto casino back in 2014.
Since then, Bitcasino has built a reputation as the most trusted and fun place to play – with much more to come in 2024.
About Bitcasino
Founded in 2014 as part of the Yolo Group, Bitcasino is an award-winning crypto casino. With a VIP program that combines globe-spanning events and impeccable day-to-day service, Bitcasino is the go-to choice for premium crypto casino experiences. Players reap the crypto benefits with withdrawal times averaging 1.5 minutes (the fastest in the industry) and cutting-edge security measures.
Pioneering the way for original, fair rewards, Bitcasino has a custom-built loyalty program that offers exclusive privileges, cashback and free spins. Award-winning promotional features like the Bitcoin Predictor and the Casino Boost enhance players’ experience. Bitcasino offers over 4,000 slots and table games from the industry’s most renowned providers – including the exclusive Bombay Live and Bitcasino slot games.
For more information, please visit the official Bitcasino website.
Media Contact
Contact Name: Claudia Lama
Contact Email: press@yolo.com
Bitcasino is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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.