Circle, the issuer of the widely used stablecoin USDC, has recently introduced a feature enabling the transfer of shares from the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) into USDC.
This development was officially announced on April 11, highlighting a new smart contract functionality designed to facilitate these transactions.
This smart contract capability allows for the seamless exchange of BUIDL shares for USDC directly on the secondary market.
The company promises a “near-instant” process for converting BUIDL into USDC, making this service available to investors around the clock.
BUIDL, which launched in March 2024, is a pioneering tokenized fund by BlackRock that exists on the Ethereum blockchain.
It provides U.S. dollar yields by tokenizing investments, primarily in U.S. Treasury bills.
As an ERC-20 token, BUIDL is part of a new breed of digital liquidity funds that leverage blockchain technology for enhanced accessibility and efficiency.
This initiative marks BlackRock’s first foray into tokenized funds, though the firm is already a significant player in the cryptocurrency space.
It operates the rapidly growing spot Bitcoin exchange-traded fund (ETF) in the U.S. and manages the iShares Bitcoin Trust (IBIT), one of the earliest spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission. As of April 10, IBIT holds 266,580 BTC, valued at approximately $18.5 billion.
Circle’s co-founder and CEO, Jeremy Allaire, commented on the broader implications of such technological advancements in finance.
“Tokenizing assets is but one important dimension of solving investor pain points. USDC enables investors to move out of tokenized assets at speed, lowering costs and removing friction,” Allaire explained.
The collaboration between Circle and BlackRock is not new; it dates back to 2022 when Circle began allocating part of its USDC reserves to the Circle Reserve Fund, managed by BlackRock Advisors.
This fund, a registered Rule 2a-7 government money market fund, primarily invests in cash and short-dated U.S. Treasuries, maintaining a portfolio mix of about 20% cash and 80% short-duration U.S. Treasuries.
This partnership underscores a continued trend of integrating traditional financial assets with innovative cryptocurrency solutions, further bridging the gap between conventional finance and blockchain technology.
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As inflation persists and government deficits remain unsustainable, store of value assets like Bitcoin continue to gain traction, according to Zach Pandl, Grayscale’s managing director of research.
Pandl highlighted to Cointelegraph the correlation between ongoing fiscal pressures and the appeal of cryptocurrencies.
“We expect persistent inflation and unsustainable budget deficits to contribute to continued demand for store of value assets, like Bitcoin,” he explained.
The economic landscape, marked by high inflation rates, means that the Federal Reserve is unlikely to lower interest rates in the near future, Pandl suggested.
Despite this, he remains optimistic about the future of cryptocurrencies, pointing to factors such as Bitcoin’s upcoming halving event, scheduled for April 20, along with increasing economic growth and broader crypto adoption, as potential catalysts for price increases.
“The Fed won’t be able to cut rates for a while with core inflation this high, but booming nominal growth, the Bitcoin halving and adoption trends like tokenization should create a supportive environment for crypto markets,” he stated.
In March, inflation rose by 0.4% month-on-month and 3.5% year-over-year, slightly above the forecasts from a Dow Jones economists survey, which anticipated a monthly increase of 0.3% and an annual rise of 3.4%.
The persistent high inflation has led many experts, including Pandl, to anticipate delays in any potential reduction of interest rates by the Fed.
This sentiment was echoed by Ernst & Young chief economist Greg Daco, who, in an interview with Yahoo Finance, noted that elevated inflation rates would compel policymakers to maintain a higher-for-longer monetary policy stance.
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Despite the challenges, Pandl sees a silver lining for cryptocurrencies over the long term.
He acknowledged that rising real interest rates might temporarily dampen crypto enthusiasm but underscored the enduring demand for store-of-value assets.
From a broader perspective, the real interest rate for 10-year terms experienced a notable increase, jumping 19% from the previous month to 1.934.
Historical data shows that significant spikes in the 10-year real interest rate often lead investors towards less volatile options like bonds and term deposits, impacting Bitcoin prices negatively.
For instance, a 52.35% surge in the 10-year real interest rate from December 2017 to January 2018 correlated with a significant 28% drop in Bitcoin’s price during the same period.
Following the latest CPI data release, Bitcoin also saw a slight decrease, with prices dipping 2.5% on April 10, as per data from Cointelegraph Markets Pro and TradingView.
Currently, Bitcoin stands at $70,640, according to CoinMarketCap. Crypto analyst Matthew Hyland recently noted an ascending triangle formation on Bitcoin’s chart, suggesting a new resistance level above $71,500, with the price peaking at $72,329 on April 8.
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Crypto.com’s branch in Dubai, CRO DAX Middle East FZE, has recently achieved a significant regulatory milestone by obtaining full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA).
This landmark approval, announced on April 9, marks the first time a cryptocurrency exchange has been authorized to handle fiat transactions within the United Arab Emirates (UAE).
This development follows the initial licensing phase, where Crypto.com met all pre-operational requirements set by VARA since the virtual asset service provider license was issued in November 2023.
With this new operational status, Crypto.com plans to launch its exchange services specifically aimed at institutional investors, alongside qualified retail investors.
The platform will offer a variety of financial services, including spot trading, staking, brokerage, and Over-The-Counter (OTC) trading, focusing on settlements for specific markets.
Eric Anziani, Crypto.com’s president and COO, highlighted the significance of this achievement, stating, “Being the first global crypto operator operational with fiat in the UAE is a significant milestone and reflects our dedication to working closely with regulators to advance the industry responsibly.”
He also emphasized the importance of the upcoming institutional services exchange as a key driver for the company’s growth in the region.
Stuart Isted, Crypto.com’s general manager for the Middle East and Africa, reiterated the company’s commitment to regulatory compliance and responsible industry advancement in partnership with VARA.
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Founded in Hong Kong in 2016 and now headquartered in Singapore, Crypto.com has been actively expanding its international presence.
This includes efforts to navigate the evolving regulatory landscape in Europe, highlighted by the anticipated impact of the Markets in Crypto-Assets Regulation (MiCA) on the expansion of major crypto exchanges.
Furthermore, Crypto.com has engaged in strategic partnerships, such as its collaboration with Latin America’s largest investment bank to support the BTG Dol stablecoin, and its initiative to launch a cryptocurrency trading app in South Korea.
Despite its achievements, Crypto.com has faced regulatory challenges, including a fine from the Dutch central bank for registration issues, which the exchange contested while continuing its operations in The Netherlands.
This series of strategic moves and regulatory navigations underscores Crypto.com’s ambitious efforts to solidify its position in the global cryptocurrency market.
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Over the past week, Bitcoin Cash (BCH) experienced a significant decline in both open interest (OI) and price following its halving event on April 4.
Data from CoinGlass reveals that as of April 12, BCH’s OI was $378.3 million, a sharp 47% fall from its pre-halving peak of $708.5 million.
This reduction in OI was accompanied by a 13% decrease in BCH’s market price, according to figures from CoinMarketCap.
A significant portion of this drop occurred on April 10, with BCH losing 7.51% of its value within just three hours after fluctuating between $676 and $691 for four days.
This downturn contrasts starkly with the aftermath of BCH’s first halving in 2020, which saw the cryptocurrency gain 4.7% in value and a 10% increase in OI, totaling $73.86 million.
At that time, Bitcoin Cash was not yet three years old and was generating debate over its utility, primarily due to its lower transaction costs and reduced energy requirements for block verification.
Recent dynamics in cryptocurrency communities have also seen notable developments.
READ MORE: Bitcoin Slips Below $70,000 Amid ETF Outflows and Market Uncertainty, Traders Hold onto Targets
On March 18, Blockstream CEO Adam Back made a public appeal to Roger Ver, a prominent early Bitcoin proponent who later became a major advocate for Bitcoin Cash, via an X post.
Back’s post read: “Join the f*cking party @rogerkver It’s just warming up. you know you want to. you don’t have to go it alone, be the prodigal son and return.”
Ver, often referred to as “Bitcoin Jesus,” has been a vocal supporter of Bitcoin Cash, arguing that it more faithfully represents Satoshi Nakamoto’s original vision for Bitcoin and is better suited as both a store of value and a currency due to its lower fees.
Meanwhile, the broader Bitcoin market is also seeing significant activity, with investors positioning themselves ahead of Bitcoin’s upcoming halving.
Currently, Bitcoin’s OI is at $34.89 billion, showing a substantial increase compared to the levels seen prior to the May 2020 halving.
These shifts in Bitcoin and Bitcoin Cash reflect broader trends and sentiments in the cryptocurrency landscape, influencing market dynamics and community interactions as key events unfold.
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In 2024, XRP has underperformed compared to Bitcoin, experiencing a decline of approximately 2.5% year-to-date (YTD), while Bitcoin has surged by 60% over the same period.
Consequently, the XRP/BTC exchange rate has fallen by 40% YTD.
Despite this, there are emerging signs of recovery for XRP as the Bitcoin halving approaches, supported by several bullish indicators that may enhance its performance post-event.
Historically, XRP has shown a pattern of excelling relative to Bitcoin around halving times.
For example, following the third Bitcoin halving in May 2020, the XRP/BTC pair surged over 100%.
A similar trend was observed around the second halving in July 2016 when the pair increased by 85%.
These trends suggest a positive outlook for XRP after the forthcoming halving scheduled for April 19.
The observed gains in the XRP/BTC pair are largely attributed to a decrease in Bitcoin’s market dominance post-halving, prompting traders to shift investments from Bitcoin to altcoins—a phenomenon often referred to as “altseason.”
Altcoins like XRP can potentially offer substantial short-term gains owing to their smaller market caps and higher volatility compared to Bitcoin.
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From a technical perspective, XRP/BTC has been following a falling wedge pattern since February, which is characterized by its price fluctuating within a space defined by two descending, converging trendlines.
This pattern is generally seen as a bullish reversal indicator, suggesting an upward move once the price breaks above the upper trendline.
For XRP, the breakout target for April/May is projected at 0.00001022 BTC, which represents an increase of about 16.75% from current levels.
Looking further ahead, XRP’s weekly price target against Bitcoin by June 2024 is set to hit its 50-week Exponential Moving Average (EMA) at 0.00001449 BTC.
This target marks a significant 70% rise from its current price. Traders have consistently focused on this 50-week EMA as a bullish target following the previous Bitcoin halvings.
Additionally, XRP is witnessing a notable accumulation phase among its largest investors.
Since early March, there has been a marked increase in the number of entities holding over 1 million XRP tokens.
From April, the number of holders possessing at least 100,000 XRP tokens has also started to rise, indicating a growing bullish sentiment among whales in anticipation of the Bitcoin halving.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Ethereum‘s forthcoming Pectra upgrade, anticipated for late 2024 or early 2025, is set to significantly enhance the functionality and user experience of crypto wallets.
The Ethereum Improvement Proposal (EIP) 3074, integral to this update, was recently approved and will enable standard crypto wallets to operate similarly to smart contracts.
The core functionality of EIP-3074 will allow standard externally owned accounts (EOAs), such as those used in MetaMask wallets, to execute operations typical of smart contracts.
This includes transaction bundling, which permits a single signature for multiple transactions, and sponsored transactions, allowing a wallet to allocate funds for use by another entity.
This mimics the account abstraction introduced in ERC-4337.
However, the upgrade is not without its concerns.
An anonymous developer from DefiLlama, known as 0xngmi, highlighted on social media platform X on April 11, the potential risks associated with EIP-3074.
“Now it’ll be possible to fully drain an address (all tokens, all NFTs, all DeFi positions…) with only one bad signature,” 0xngmi stated.
Despite these security issues, Harrison Leggio, co-founder of Gaslite, acknowledged that mishaps are common, noting on X, “people will always find a way to lose their money.”
He further commented on the misuse of private keys: “People literally GIVE THEIR PRIVATE KEYS TO TRADING BOTS.”
Laurence Day, a software engineer, pointed out the utility of the EIP in enabling sponsored transactions.
This feature is particularly beneficial as it allows the storage of assets in wallets that do not hold Ether, with the sponsoring of gas fees managed through a controlling contract.
Additional capabilities introduced by EIP-3074 include a social recovery feature, which eliminates the need for traditional seed phrases by implementing new operational commands, AUTH and AUTHCALL.
As explained by an anonymous Web3 adviser, Cygaar, on X, AUTH is used for verifying signatures and actions, and AUTHCALL allows for interaction with the target contracts using the originator’s address instead of the message sender’s.
This update follows the recent Dencun update that reduced layer-2 transaction fees and precedes another planned project known as the “Purge,” discussed by Ethereum co-founder Vitalik Buterin.
This next phase aims to streamline the network by eliminating outdated and excess data.
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Flying Shiba Inu is a newly launched memecoin, and it has the potential to create a new wave of crypto millionaires.
Flying Shiba Inu (FLYSHIB) is poised to rally 7,000% before Tuesday, ahead of an announcement that the new memecoin will be listed on MEXC.
This will be Flying Shiba Inu’s first centralized exchange listing, with it currently only trading on Solana decentralized exchanges, such as Raydium.
The CEX listing will give Flying Shiba Inu (FLYSHIB) exposure to tens of millions of new investors, so the announcement will be a major bullish catalyst for FLYSHIB’s price action.
It is currently trading at $0.00000535, giving Flying Shiba Inu (contract address: BEU7zWb6AC2SyKR1pAQU8aTj9AFuodxWSkScStJtSWDF) a market cap of just around $4,300.
This means the token has massive upside potential, and it could turn a few thousand dollars into millions once the MEXC listing and other listings on centralized exchanges are announced.
It’s therefore not surprising that many early investors of Shiba Inu (SHIB) – who made astronomical returns by buying their coins early – are also choosing to invest in FLYSHIB, particularly before its first CEX listing is officially announced.
Specifically, FLYSHIB’s market cap is set to grow to $250,000 before the end of next week, meaning that a $500 investment would turn into over $60,000.
And, even after these huge gains, FLYSHIB will have plenty more upside potential, with it forecast to reach a $5 million market cap by mid-May.
Flying Shiba Inu (FLYSHIB) was launched today, and this dog-themed coins is set to deliver astronomical returns to investors who purchase in the first few days.
Queen Kitty Coin (KITQUE) has been consolidating around the $0.000006 mark, after yesterday reaching a high of $0.000034.
The memecoin, which was launched yesterday, is preparing to rally 600% and return to its all-time high, and then targeting another 1,200% in gains before the end of April.
KITQUE (contract address: F6LdtNP9zThSuCwdweAGqngC9XufhDfMYjFio3mWZT9e) currently has a market cap of just $28,000, so when it reaches a $500,000 market cap within a few weeks, investors who buy in now can generate almost 2,000% returns.
And after this, Queen Kitty Coin will still have plenty more potential to rally, so it has a chance of turning early investors into millionaires, as Shiba Inu (SHIB) did.
Meanwhile, Flying Shiba Inu (FLYSHIB) – another dog-themed memecoin – launched today, and it’s currently 111% up.
However, with its market cap still under the $10,000 mark, FLYSHIB (contract address: BEU7zWb6AC2SyKR1pAQU8aTj9AFuodxWSkScStJtSWDF) offers truly astronomical gains for investors who buy their tokens while its market cap is low.
Both of these newly launched memecoins currently trade on decentralized exchanges, like Jupiter and Raydium, but centralized exchange listings are planned in the coming weeks.
These additional listings will cause the price of these tokens to skyrocket, as tens of millions of new traders get access to them and will pour funds in.
When investing in new memecoins, it’s best to invest in several different coins and build a portfolio, to increase your chances investing in the next SHIB or PEPE.
And there’s no doubt that both KITQUE and FLYSHIB should be a part of your memecoin portfolio if you’re looking for huge gains.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The talk in the crypto world is about the Bitcoin halving, which is anticipated to occur on April 19th, 2024. This happening might be a possible cause for an altcoin rally. History shows us that after halving, there has been a significant reduction in dominance by Bitcoin and typically this results in rising altcoin market caps. The upcoming halving of Bitcoin could result in a 50% reduction in mining rewards, making mining more difficult and potentially reducing the market power of Bitcoin. Similar events have seen a decline within 12 to 18 months after previous halvings.
The diminishing dominance of Bitcoin creates space for altcoins to experience increased capital rotation, much like what happened during past cycles. Following the adjustments made to mining rewards in both 2016 and 2020, there was a notable increase experienced by altcoin market caps many months after these halving events. This pattern strengthens the idea of growing interest towards altcoins after halvings.
In the shifting market scenario, some altcoins could attract significant attention and investment. Tokens like Sandbox (SAND), Chiliz (CHZ), Mina (MINA), and EOS (EOS) are anticipated to experience substantial growth in 2024. These cryptocurrencies are gaining popularity not just for speculative purposes but also due to their special use in areas like gaming, NFTs, and metaverse. This is appealing to both experienced persons who are interested in crypto investments and those who are new to this aspect of finance. The changing nature of the crypto world, thanks to Bitcoin’s halving, suggests that these altcoins may not only benefit from money being redistributed but also establish new norms within their respective sectors. This signifies an exciting year ahead for enthusiasts of altcoins.
Ride The Wave of Innovation with ScapesMania
The introduction of a new crypto project is usually met with very cautious optimism. But when its numerous past sales and token generation event (TGE) are a huge success, it all seems like the first step on a path full of growth potential. ScapesMania, the groundbreaking casual gaming project, has a lot to show for its unstoppable hype.
$MANIA has stepped into PancakeSwap, a decentralized exchange on the Binance Smart Chain network known for its extensive user base and liquidity. The debut trading day proved to be impressive. The token price demonstrated resilience, indicating robust tokenomics and promising prospects for the project. Unlike short-term ICOs, ScapesMania has proven itself to be a serious venture within a thriving market.
Just let the numbers speak for themselves:
- Holder count: 18.41K
- 24-hour trading volume: $2.25M
- Over 2,535 buys and 1,651 sells
ScapesMania also topped DEXTools’ Hot Pairs list right away after its debut.
This project started out with a presale event that garnered an incredible $6.125 million. The fact that it attracted over 60,000 followers across different social media networks and a vast number of holders is even more remarkable. This strong support and funding demonstrate how appealing and promising the project is to a wide audience. A real breakthrough might be just around the corner, so it would be a waste not to grab $MANIA tokens before they skyrocket.
The launch of liquidity pairings including MANIA/WBNB and MANIA/USDT marked the beginning of active trading. The demand from the community led to USDT becoming the main source of liquidity.
Why get involved with ScapesMania now that it’s listed? First, $MANIA tokenomics are balanced, with a cliff and vesting system helping maintain stability. Second, ScapesMania incentivizes community members through its staking program, rewarding commitment with extra tokens. Third, through DAO governance, community members can vote on ecosystem development decisions. Finally, ScapesMania continuously expands token utility, offering more benefits to $MANIA holders.
With a strong plan for promoting the project after listing, its success might keep up the record-breaking pace after its debut. The team’s dedication to long-term development and prominence in the cryptocurrency industry is shown by their impressive marketing efforts — 75K+ average monthly traffic is no joke.
Additional upsides that may be among the biggest deciding factors are:
- The project’s smart contract has been approved by BlockSafu. Holders may rest certain that the project’s infrastructure is reliable and up to par thanks to this endorsement.
- Enthusiastic support from numerous notable crypto influencers. It lends legitimacy and affirms ScapesMania’s status as one of the promising new projects.
- Experienced team. Innovating and executing a project successfully requires a team of seasoned specialists. This project is in a strong position to overcome any obstacles and take advantage of opportunities.
- Bright future. The project has come a long way, but it still has a long way to go. There are tentative plans to list on a centralized exchange (CEX), which will provide access to more markets and more liquidity.
Everything about ScapesMania was carefully designed to facilitate major growth potential. From successful, well-publicized sales to its advantageous alliances, seasoned staff, and strategic positioning in the casual gaming niche – it looks poised for big things.
Choosing ScapesMania right now, post-TGE, offers early access, exclusive benefits, diversification, lower competition within a dynamic niche, and, more importantly, a potentially perfectly-timed entry point. The coin’s stable post-listing price and strong initial support, coupled with an influx of newcomers, indicate long-term confidence, so it might be the time to make your decision.
Sandbox (SAND): A Virtual Real Estate Boom?
Sandbox (SAND), an NFT-based platform, is finding its place in the blockchain gaming and metaverse sector. It competes with other platforms such as Decentraland and Axie Infinity. This show of strength shows not only gamers but also marketers and developers are being drawn to it too; thus showing that the ecosystem is strong and growing well. The platform’s market presence benefits from a variety of applications – ranging from gaming to virtual real estate – which keep attracting interest in the wider digital assets market.
Sandbox (SAND) is keeping a careful equilibrium in its trading worth. The token has shown ups and downs, fluctuating from a lower support mark of $0.6503 to a higher resistance point of $0.8090.
In the future, Sandbox (SAND) has a chance to grow significantly. It is possible because it keeps on spreading its presence in gaming and metaverse areas. If the platform continues to develop and draw more users, there are forecasts that say the price could possibly go up to $1.133 by the end of 2024. But this hopeful situation depends greatly on successful introduction of planned improvements as well as ongoing fascination with NFTs and metaverse uses among people. On the other hand, if the platform encounters problems or does not make use of its updates in a way that investors find satisfactory, then the price might go back to about $0.610. The expected trading price that takes into account both positive and negative views could settle around $0.902 on average.
Chiliz (CHZ): Revolutionizing Fan Engagement
Chiliz (CHZ) has made a name for itself in the sports and entertainment industries by using blockchain technology in a new way to involve fans. The platform’s capacity to combine cryptocurrency with sports enthusiasm has drawn many users, leading it into important market positions. Even though there are some ups and downs, Chiliz (CHZ) continues showing strong performance which shows its ability to endure difficulties while having potential for continuous expansion.
The trading value of Chiliz (CHZ) is now around $0.147, showing a slight rise from its recent low point. The market has observed Chiliz (CHZ) holding support levels well above the yearly lows, which indicates that there exists strong backing from investors and an enduring interest in this coin. Having gone through different market cycles, it seems like Chiliz (CHZ) is standing steadily with its ups and downs handled smoothly – showing stability even in fluctuating cryptocurrency markets.
Chiliz (CHZ) has a good future because it is in a special place within the cryptocurrency fields related to sports and entertainment. The year 2024 might see its value increase, with prices possibly going up to $0.30. If the platform keeps growing its collaborations and improving technology, top price goals for next year could go higher still – they might potentially hit $0.42 by 2025 and $0.51 by 2026. Overall, these predictions show a positive outlook for Chiliz (CHZ). However, it is important to consider the effects of market competition and regulatory difficulties that may influence the growth path. The imaginative application of fan tokens and continuous advancement suggest a hopeful future for Chiliz (CHZ).
Mina (MINA): The Lightweight Blockchain Revolution
Mina (MINA) is unique in its claim as the “world’s lightest blockchain,” a quality that makes it different from other digital currencies. This feature keeps Mina (MINA) size constant even as more transactions occur, making it highly scalable and easy to access. This characteristic of Mina (MINA) has drawn interest within the blockchain community. At present, one unit of Mina (MINA) trades at approximately $1.28 with an increase just under 7% over last week’s period.
Mina (MINA) has shown good performance lately, as its price recovered from a low point and then kept increasing at a steady rate. The token’s ability to maintain its place in the market during times of ups and downs demonstrates strong trust from investors as well as usefulness within the blockchain industry.
The future of Mina (MINA) looks promising, as some forecasts say its price might even go up to $2.76 by the end of 2024. If it keeps being the only blockchain that is very small, Mina (MINA) could attract more value and perhaps even reach a price of $13.24 by 2030. These positive predictions depend on people continuing to use it and more generally, lightweight blockchain solutions becoming widely accepted. Yet, similar to all other cryptocurrencies, Mina (MINA) is not completely free from difficulties. It can still be influenced by market instability and competition forces that might affect the direction of its price.
EOS (EOS): Pioneering Decentralized Applications
EOS (EOS) has made its mark in the cryptocurrency market through its concentration on decentralized applications. The technological framework of this digital currency, which puts emphasis on scalability and ease for users, has helped it stay competitive. Even though it experienced some ups and downs before, the feeling of people in today’s market towards EOS (EOS) is hopeful but careful. The token is trading at about $1.11 now.
EOS (EOS) price actions have shown a combination of difficulties and rebounds. The token has seen significant ups and downs, yet it is still common in numerous crypto asset collections because its potential lies within the sphere of decentralized applications. The current direction shows a steadying or even slightly growing path for prices.
For the future, EOS (EOS) could have interesting growth possibilities, especially in the changing area of decentralized applications. In 2024, a prediction says that its price might be anywhere from $0.65 to $1.82 which indicates possible increase due to market acceptance and technological progressions over the time period mentioned above. By 2030 this could rise even higher at around $5.62 up until approximately $8.10 because more people are using it and there will continue being new developments made for it as well (Bencic, 2021). On the other hand, for the optimistic projections to come true, EOS (EOS) needs to handle tough competition in the blockchain field and keep up with its technological advantage.
Conclusion
As the Bitcoin halving approaches on April 19th, 2024, the cryptocurrency community is buzzing with anticipation of a potential altcoin rally, similar to previous cycles where Bitcoin’s dominance waned post-halving, benefiting altcoins. Historical patterns have shown that altcoin market caps tend to surge following the halving events, as seen in 2016 and 2020. This expected reduction in Bitcoin’s mining rewards and the consequent difficulty increase could decrease its market dominance again, setting the stage for substantial capital inflows into altcoins. This backdrop supports the growing interest in altcoins as investors look to diversify beyond Bitcoin in anticipation of these cyclical market shifts.
In light of this shifting landscape, several altcoins such as Sandbox (SAND), Chiliz (CHZ), Mina (MINA), and EOS (EOS) are forecasted to see significant appreciation in 2024. These tokens are gaining traction not only for speculative purposes but also for their unique roles in burgeoning fields like gaming, NFTs, and the metaverse. As the crypto environment evolves with Bitcoin’s halving, these altcoins are expected not only to benefit from a redistribution of capital but also to set new industry standards, making 2024 a potentially exciting year for altcoin enthusiasts and new market entrants alike.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of our site, nor is it intended to be used as legal, tax, investment, or financial advice.
Shiba Inu has recently launched the latest issue of ‘The Shib’ Magazine, causing a stir in the cryptocurrency community.
This release not only reinforces Shiba Inu’s status as a significant cultural force in the crypto world but also boosts optimism for cryptocurrencies like SHIB, DEGEN, and the new entrant Raboo, which is currently valued at $0.0036 in its presale.
Originally perceived as a mere Dogecoin competitor, Shiba Inu has since developed an extensive ecosystem that includes non-fungible tokens (NFTs), the ShibaSwap decentralized exchange, and now a dedicated magazine.
‘The Shib’ delves into the nuances of cryptocurrency culture with articles providing insights, stories, and predictions that may influence the digital currency landscape.
This initiative not only enhances SHIB’s brand but also invigorates its community, which is keen to see how the magazine will extend Shiba Inu’s influence.
Introduced in January 2024, the DEGEN token is a part of the Farcaster ecosystem, an ERC-20 token that has gained attention for monetizing social interactions.
Users earn DEGEN tokens through quality content contributions, effectively turning online engagement into measurable financial value.
READ MORE: Pepe Coin’s Bullish Pennant Pattern Signals Potential Uptick Amidst Cryptocurrency Market Surge
DEGEN has been termed a ‘social currency’ due to its system that acknowledges and rewards unique user contributions.
Furthermore, DEGEN has expanded by launching a layer-3 network called the DEGEN chain, led by Jacek Trociński.
This chain focuses on customization and community feedback, enhancing its prospects as a platform for developing interactive applications and games with the DEGEN token serving as the native gas token.
Meanwhile, Raboo is making waves in its presale phase with its AI-enhanced features and dynamic ecosystem aimed at transforming meme culture through Social-Fi and AI technology.
With its initial coin offering (ICO), Raboo is quickly becoming a focal point for investors and enthusiasts, projected by analysts to potentially achieve a 100x growth post-launch.
The optimism generated by ‘The Shib’ Magazine has highlighted the potential of emerging tokens such as DEGEN and Raboo.
DEGEN’s unique model for valuing online interactions and Raboo’s innovative integration of AI in meme culture are positioning them as potential breakthroughs in the crypto market.
For investors who missed out on the Shiba Inu price surge, Raboo presents an enticing opportunity for potentially significant returns.
The evolving crypto landscape underscores the importance of innovation, community involvement, and active engagement, with Raboo poised to potentially dominate this space.
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