Rich Dad Poor Dad author Robert Kiyosaki has revealed that he purchased 60 bitcoins at ,000 each and continues to buy more bitcoin every month. He explained that the crypto represents “rules-based money,” contrasting it with government fiat money, which he describes as “debt-based.” Kiyosaki emphasized that rules-based money increases wealth, while debt-based money diminishes […]
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Penguiana Reports New Milestones As PENGU Presale Hits Soft Cap, Teases Play-to-Earn Game Trailer Next Month
PRESS RELEASE. Penguiana (PENGU), a novel penguin-themed meme coin, is making significant waves within the cryptocurrency and Solana meme community. With its presale already raising over 1500 SOL, Penguiana is positioning itself as the next popular meme coin on the Solana blockchain. Penguiana (PENGU) Presale is Up and Running The Penguiana presale showcases the strength […]
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As TRUMP Coin Surges Over 100% in a Month, Trump’s Crypto Wallet Swells in Value
Over the past week, the meme coin known as maga (TRUMP) has increased by more than 45% against the U.S. dollar, and over the past day, the TRUMP token has climbed more than 7%. Statistics reveal that this rise in value has boosted former U.S. President Donald Trump’s cryptocurrency holdings, with his stash of TRUMP […]
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Crypto Analyst Shares Top AI Altcoin Investments This Month
In an analysis of the current landscape at the nexus of artificial intelligence and altcoins, crypto analyst Prithvir (@Prithvir12) recently shared insights via X that highlight both the opportunities and pitfalls in the AI coin market this month. His analysis covers upcoming AI catalysts, their impact on specific tokens, and personal investment recommendations, shedding light on the nuanced strategies required in this volatile segment.
In-Depth Look At The AI Crypto Market
Prithvir underlines a series of significant events in the AI space that are anticipated to directly impact the crypto markets. He first points to NVIDIA’s earnings announcement scheduled for May 22nd, emphasizing NVIDIA’s pivotal role in AI technology, which could have cascading effects on AI-centric cryptocurrencies.
Further stirring the market is the buzz around OpenAI’s GPT-4oT. Moreover, Prithvir discusses the influence of major tech conferences focused on AI advancements, notably Google’s I/O conference and Apple’s emphasis on AI at its upcoming Worldwide Developers Conference (WWDC). He predicts these events are poised to introduce new AI initiatives that could impact crypto markets.
In his post, Prithvir also analyzes several tokens that have responded differently to these AI catalysts. He describes WLD, associated with OpenAI through Sam Altman, which experienced a 20% drop in price last week, a typical “sell the news” reaction post the GPT-4o announcement. He expresses concerns about WLD’s “ridiculous tokenomics” and the risks posed by potential coordinated short squeezes, advising traders to approach with caution.
Prithvir also touches upon OLAS, which, despite losing some visibility since its peak in 2023, remains active on the Gnosis chain and could be poised for a comeback depending on market conditions and developments within its platform, according to the analyst.
The token SPEC, however, has shown significant volatility, skyrocketing from to and then retracting to within two weeks. Prithvir critiques its high fully diluted valuation (FDV) close to billion, warning of the speculative nature and the inherent risks of engaging with such a volatile asset.
Lastly, he addresses the group of ASI tokens FET, AGIX and OCEAN, representing the Super Intelligence Alliance, noting that their once-leading positions in AI-driven market rallies have dwindled. According to Prithvir, these tokens are currently overvalued, with limited upside potential, indicating a saturated market state for these assets.
Prithvir’s Top Altcoin Picks
Navigating through the complexities of the AI coin market, Prithvir shares his preferred investment strategies and picks. He highlights Render (RNDR) as a favorable choice, especially leading up to NVIDIA’s earnings and Apple’s WWDC, due to its direct ties to their technologies and expected feature enhancements which might boost its value.
“NVIDIA due to comparisons of GPU networks and Apple due to the rendering software they have built that Apple always features at different keynotes. Hence, I think this could be a good swing trade leading up to WWDC Time period – 3 weeks,” the analyst stated.
AR is Prithvir’s “biggest AI coin holding currently.” The project is praised by him for its pivot to AI functionalities with the AO Computer and robust team. The presence of AR on Tier-1 exchanges and its substantial backing makes it a “no-brainer” for a medium-term hold.
He also mentions NEAR, albeit with a smaller investment footprint due to the perceived limited upside. “Smaller position than AR due to more limited upside. But could become one of the consensus AI trades of this cycle due to its brand value, good liquidity and innovations in other sectors such as Chain Abstraction,” Prithvir wrote via X.
At press time, RNDR traded at .1089.
Block Is Buying Bitcoin Every Month for Its Balance Sheet
Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around […]
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Bitcoin Milestone Ahead? Analyst Forecasts New Peak This Month
In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert and enthusiast, has emerged with an optimistic outlook for Bitcoin (BTC) foreseeable future trajectory, predicting that the crypto asset could rise to a new all-time high before this current month closes.
Bitcoin To Reach New All-Time High In May
Faibik’s analysis, which is based on his in-depth knowledge of cryptocurrency dynamics and a sharp eye for market trends, explores the possibility of a large short-term rise in Bitcoin. According to the analyst, Bitcoin is at a key junction currently testing the daily Moving Average 100 (MA100) level once more after recovering from it in the past.
Historically, the crypto asset has found considerable support at the 100MA level. Should BTC recover from this point on, Captain Faibik anticipates a significant rise on the upside in the upcoming days. Thus, he expects the digital asset to reach a new all-time high within the month.
The post read:
Last time, BTC bounced back from the daily MA100, and now it is testing it again. If it bounces back from here, we can expect a Bullish Rally in the coming days. New All the High could be incoming this month
The crypto analyst noted Bitcoin’s price action in the daily timeframe also suggests that a bullish rise is on the horizon. Faibik stated that on the daily timeframe chart, BTC is still moving above the major trendline and inside the green box indicated in his chart. As a result, the analyst expects BTC to undergo a quick comeback.
Related Reading: If History Repeats, This Is How Bitcoin Price Will Perform In The Next 6 Months
Another notable finding from Captain Faibik is that the daily Relative Strength Index (RSI) has been drifting below a trendline that has been in place for some months. Although this might indicate a brief waning of positive momentum, Faibik interprets it as a sign of an impending price recovery for Bitcoin. Given that BTC is still moving inside the bullish flag pattern, the expert anticipates a bounce back towards ,000 in the upcoming days.
0,000 Price Target For BTC
Captain Faibik’s most bullish target for BTC recently is the 0,000 price mark. Last week, Faibik pointed out key narratives that could catalyze Bitcoin’s price to 0,000 in the coming months.
According to the expert, the presence of bullish investors in the market was the reason why BTC was trying to make a comeback in the previous week. Thus, for a significant price increase to 0,000, these investors must retake the crucial resistance level of ,000.
Furthermore, Faibik highlighted that BTC Bulls have solidly secured the weekly Exponential Moving Average (EMA) 10 following the October 2017 Descending Channel breakout. Due to this, the crypto analyst is setting 0,000 as the digital asset’s next price target.
Following a decrease of more than 13% over the previous 7 days, the price of Bitcoin is currently trading at ,701. In the last day, its market cap has plummeted by over 6%, while its trading volume has increased by about 61%.
Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month
Toncoin, of the TON network, has captured the attention of the cryptocurrency community as its Total Value Locked (TVL) surpasses a staggering 8 million, marking a historic milestone. This meteoric rise, reported by DefiLlama, showcases an almost threefold increase in just one month and a jaw-dropping tenfold surge over the course of a year. As of the latest update, TON’s TVL stands firm at slightly over 6 million, underscoring its growing prominence in the decentralized finance (DeFi) landscape.
Unprecedented Growth And Leading Projects
Within the TON ecosystem, standout performers in TVL include the Tonstakers liquid staking protocol and the STON.fi decentralized exchange. Together, these projects boast a combined total value of locked assets exceeding 3 million.
Toncoin Surges As Market Dynamics Shift
Amidst the flurry of activity, Toncoin emerges as the darling of the crypto market, experiencing a remarkable surge in value. Over the past month, Toncoin has skyrocketed by over 60%, propelling it to new all-time highs multiple times throughout April. Currently trading at around .25, Toncoin’s ascent shows no signs of slowing down.
Speculation And Partnership Buzz
Fueling Toncoin’s ascent are rumors swirling within the crypto community regarding a potential partnership between the TON Society developer community and HumanCode, an AI development firm. While details remain scarce, speculation abounds, with many anticipating a major announcement that could further propel Toncoin’s price up.
Gm
Who’s ready for the big announcement?! pic.twitter.com/1i3dBKVYkG
— TON
(@ton_blockchain) April 18, 2024
Toncoin Overtakes Cardano in Market Capitalization
Meanwhile, Toncoin has surpassed Cardano (ADA) in market capitalization, firmly establishing itself as a force to be reckoned with in the crypto market. With a market capitalization of over billion, Toncoin now holds the coveted 8th position, relegating Cardano to the 11th spot.
Market Analysis And Price Consolidation
Despite its meteoric rise, Toncoin is currently navigating a period of consolidation, with traders and analysts closely monitoring key price levels and volume dynamics. As the cryptocurrency hovers between .50 and .75, both bulls and bears are poised for potential shifts in market sentiment. Crypto trader Paxton emphasizes the importance of volume in determining Toncoin’s trajectory, urging caution amidst the market’s ebbs and flows.
Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout?
As the TON network continues to defy expectations and Toncoin reaches unprecedented heights, all eyes remain fixed on this thriving ecosystem. With its innovative projects, strategic partnerships, and surging value, TON is poised to reshape the future of decentralized finance and redefine the possibilities of the crypto market.
Featured image from Amazon, chart from TradingView
111,000 BTC Move Out Of Exchange Wallets In A Month – Impact On Bitcoin Price?
The Bitcoin price has somewhat slowed down since reaching the unprecedented high of ,000, moving mostly sideways since mid-March. However, with the halving event less than a fortnight away, all eyes will be on the premier cryptocurrency and all that pertains to it over the next couple of weeks.
According to a recent on-chain observation, the BTC supply on exchanges has been on a steady decline over the past few months. This trend has sparked discussions on what this could mean for the Bitcoin price, both in the short and long term.
.55 Billion Transferred Out Of Exchange Wallets In The Past Month
Prominent crypto pundit Ali Martinez took to the X platform to share that a significant amount of Bitcoin has been moved out of crypto exchanges over the past month. The relevant metric here is Glassnode’s Balance on Exchanges, which tracks the total amount of a cryptocurrency (Bitcoin, in this case) held across all exchange addresses.
A decrease in the value of this indicator implies that investors are making more withdrawals than deposits of Bitcoin into centralized exchanges. The metric’s increase, on the other hand, indicates that more BTC is flowing into these exchanges than leaving.
According to Martinez, about 111,000 BTC (worth approximately .55 billion) have been transferred out of known crypto exchange wallets in the past month. Typically, an exodus of funds (of this magnitude) suggests a significant shift in the sentiment of Bitcoin investors.
While the exact rationale behind such a massive movement of Bitcoin remains unclear, the flow of funds from trading platforms suggests a growth in investor confidence. This implies that BTC owners are more interested in holding their assets in the long term rather than selling for short-term gains.
Furthermore, this continuous downward trend in BTC’s balance on exchanges could set the stage for a bullish rally for the Bitcoin price. A sustained drop in the BTC’s supply on centralized exchanges could result in a supply crunch – a scenario where the supply of a particular asset is lower than its demand, leading to a surge in its value.
Another potential bullish catalyst for the Bitcoin price is the upcoming halving event, which is expected to occur on April 18, 2024. With the miners’ rewards slashed in half and the production of Bitcoin slowed, this event is expected to impact the value of BTC positively.
Bitcoin Price At A Glance
As of this writing, the Bitcoin price stands at around ,537, reflecting a 2.7% increase in the last 24 hours.
Mega Whale Moves 2,000 Dormant Bitcoins From 2010 in Third Series of Transfers This Month
On March 1, a well-known colossal whale holding bitcoins from 2010 activated 2,000 dormant bitcoins across 40 transactions in a single block. Just four days afterward, on March 5, this entity once more made waves by transferring 1,000 bitcoins originating from the same year. For the third instance in March, this entity has returned, reallocating […]
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With 1 Month to Go, Bitcoin Halving Poised to Shift Mining Dynamics
Per the most recent data, we are a month away, or precisely 30 days, from the fourth Bitcoin halving event. This significant milestone will cut the mining rewards from 6.25 bitcoins per block to 3.125 bitcoins per block after the halving. The summary below outlines the essentials to grasp the changes occurring during the halving, […]
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