In the dynamic world of cryptocurrency, Pepe Coin (PEPE) has emerged as a standout performer.
This weekend, it was in the limelight alongside giants like Bitcoin (BTC) and Ether (ETH), with both experiencing significant price increases.
BTC continued its streak of setting new all-time highs, while ETH crossed the $4,000 mark for the first time in two years.
PEPE also joined this upward trend, reaching a new all-time high, prompting large holders to secure profits.
Launched in April of the previous year, the frog-themed PEPE quickly became a prominent figure in the memecoin market, rivalling others like BONK and various Solana-based memecoins.
Despite a period of reduced attention, the recent market bull run has seen PEPE’s value soar, capitalizing on the positive market sentiment.
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
A significant transaction highlighted by Lookonchain involved a whale profiting over 431% in just two weeks, withdrawing over 1 trillion PEPE tokens from Binance in three separate moves before the price surge, culminating in an impressive $8.13 million gain from an initial $1.7 million investment in PEPE tokens.
This series of transactions underscored the substantial profits being made in the memecoin sector.
This surge in PEPE’s value is part of a broader resurgence in memecoin interest, with PEPE itself seeing an 800% increase in its value over the past month.
This has elevated it to the third largest memecoin by market capitalization, at $3.85 billion, reflecting a robust growth in trading volume and market activity.
Despite a slight dip from its all-time high, the community remains optimistic about PEPE’s position as a leading memecoin in this bull run, underscoring the continued fascination and confidence in the potential of memecoins within the cryptocurrency market.
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On March 13, just before the Wall Street trading session commenced, Bitcoin achieved a new milestone in price discovery, demonstrating a bullish edge over selling pressures.
This achievement was recorded with Bitcoin reaching unprecedented highs of $73,679 on Bitstamp, as per data provided by Cointelegraph Markets Pro and TradingView.
Following a slight pause in its upward momentum the previous day, where Bitcoin stabilized near $72,000 and momentarily dipped by $4,000, it swiftly rebounded, mirroring the early week’s market dynamics that initially restricted gains due to resistance.
According to CoinGlass, resistance at $73,800 briefly capped further advances. However, the path towards $80,000 appeared largely unobstructed, a sentiment supported by minimal liquidation levels.
Jelle, a renowned trader, noted on X (formerly Twitter), “Bitcoin wiped out overleveraged longs, retested the 2021 cycle high & then bounced back to $72,000,” indicating a positive outlook for continued upward movement.
Tedtalksmacro, a financial analyst, highlighted the significant surge in institutional investments surpassing previous records, even considering the introduction of new spot Bitcoin ETFs in the United States.
READ MORE: Grayscale Proposes New Bitcoin Mini Trust to Offer Tax-Efficient Investment Option
He shared with his X audience, “Fund inflows like we have never seen before. It makes 2020 look small… price will continue to catch up over the coming months,” suggesting a steady ascent towards $100,000.
He cautioned that historically, a peak in these inflows often signals a critical juncture to exit the market within the following 2-3 months.
Record-breaking inflows were observed in the ETF sector, with a notable $1 billion of net contributions recorded on March 12. BlackRock’s iShares Bitcoin Trust was at the forefront of this influx.
BitMEX Research highlighted, “A record 14,706 BTC inflow on 12 March 2024,” underscoring the significant demand.
This influx represents a substantial fraction of Bitcoin’s newly-mined supply in 2024, estimated at around 65,500 BTC.
As of March 13, the combined holdings of the two largest ETFs, managed by BlackRock and Fidelity Investments, amounted to over 330,000 BTC.
This figure is quintuple the quantity of Bitcoin mined during the same period, illustrating the massive scale of institutional participation in the cryptocurrency market.
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2024 is off to a roaring start for the cryptocurrency market, with Bitcoin breaking the $72,000 barrier. In this buoyant market context, Web3 and its bubbling ecosystem are attracting all eyes. Investors are on the lookout for the nuggets that will make tomorrow’s headlines.
Token sales and launchpads, the nugget hunt is on!
A veritable breeding ground for innovative projects, token sales (Initial Coin Offerings or Initial Token Offerings) and launchpads are enjoying a spectacular resurgence in popularity. These stepping stones for crypto startups offer seasoned investors a golden opportunity to unearth future gems of this ever-changing universe.
Discover 5 high-potential projects, from decentralized finance, to gaming, that are likely to make a splash in the crypto community in 2024. Fasten your seatbelts, as we take you on a tour of tomorrow’s nuggets!
Ago, the all-in-one DeFi platform
Ago is an innovative DeFi platform that aims to democratize decentralized finance by offering a wide range of services within a single user-friendly application.
With Ago, users can access interest-bearing savings accounts, obtain crypto loans, carry out fiat currency transactions and benefit from advanced trading tools. All with an experience comparable to that of online banks, but in a truly decentralized way.
The AGO token is at the heart of the ecosystem, enabling decentralized governance of the platform, while offering its holders a return of 80% of the costs generated by all its services! With a limited issue of 300 million tokens and deflationary mechanisms, $AGO offers solid tokenomics to support Ago’s growth.
Supported by an experienced team, strategic partnerships and a successful $9 million fundraising campaign, Ago has what it takes to become a key player in decentralized finance. This is confirmed by its impressive 1000% growth in its user base by 2024.
For all those who wish to take advantage of the unique opportunities offered by the DeFi, Ago is definitely a platform to keep an eye on. With its ICO which will soon be coming to an end, only a few days left to secure your chips and take part in the adventure.
Trakx, revolutionizing Crypto-Index Trading
Trakx revolutionizes crypto-index trading by offering themed Crypto Trading Indices (CTIs) and customized solutions.
Registered with AMF (Autorité des Marchés Financiers in France), Trakx makes it easy to invest in baskets of cryptos with a single click such as cryptos for staking, the Metaverse, NFT collections, etc.
The platform offers many advantages, including:
- 24/7 access to CTIs
- Automatic portfolio rebalancing
- Rigorous component selection
- Optimized risk management
- Reduced costs
In addition, to reinforce its expertise and accessibility, Trakx has forged strategic partnerships with renowned players such as Lumrisk, MSCI and Vinter.
Recently, Trakx has launched three risk-adjusted ITCs (Curator, Balanced and Growth), which have performed well since their launch. Finally, a new Staking product category has been introduced, offering investors an opportunity to optimize their returns.
The platform is experiencing increasing adoption, with more than 1500 active users and several million dollars exchanged.
At the heart of the ecosystem Trakx is the $TRKX token, which offers its holders a range of advantages, such as :
- Discounts on trading fees
- Attractive referral programs
- Active participation in platform governance
- And much more…
Trakx has already raised $3 million and is aiming for a further $500,000 through several private rounds available to investors. A unique opportunity to take part in the adventure of a leader in the crypto-index trading industry.
Ouinex, transparency is the watchword
Ouinex stands as a beacon of transparency, setting the standard in the crypto exchange landscape.
Established in Paris in 2022, Ouinex caters to active traders, offering a transparent, fair, and secure platform with competitive transaction fees. Boasting a team with a wealth of experience in traditional finance, Ouinex defied market odds, securing nearly $4.5 million during the 2023 bear market.
What sets Ouinex apart is its unique proposition of allowing users to trade both cryptocurrencies and traditional assets through a single account. The $OUIX utility token, strategically designed, hints at a promising future for the platform, aiming to reach 75,000 users by mid-2025.
With recent success in obtaining a Polish license, Ouinex continues its journey towards regulatory compliance, with plans for further licensing in the pipeline. The team is diligently working on expanding its regulatory approvals both in Europe and Globally, ensuring a seamless and compliant trading experience.
Metafight, MMA in the age of blockchain
MetaFight shakes up the blockchain gaming industry by offering an unprecedented immersive experience in the world of mixed martial arts (MMA). Thanks to its cutting-edge technology, MetaFight bridges the gap between the virtual world of fighter cards and real athletes in the sport of MMA, offering a resolutely innovative gaming experience.
By taking part in epic clashes and daring challenges, players have the chance to win tempting rewards and see the value of their cards soar on the market.
The potential of MetaFight recently attracted the attention of Animoca Brands, a heavyweight in the blockchain gaming industry. This providential investment will enable MetaFight to step up a gear by accelerating the development of its platform and launching an improved version of the game as early as 2024.
This new version of MetaFight game promises an unprecedented MMA gaming experience, featuring a Management Card Game (card management game). Players will be able to discover all-new features and enjoy an optimized user experience, for total immersion in the world of mixed martial arts.
With its innovative concept, its strategic partnership with Animoca Brands and its ability to meet the growing demand for blockchain-based games, MetaFight has what it takes to establish itself as a major player in this rapidly expanding market. MMA fans and enthusiasts of blockchain games have plenty to look forward to when they discover the new version of MetaFight in 2024.
MyLovely Planet, playfully saving the planet
Sponsored by Ubisoft and Unity, MyLovely Planet revolutionizes gaming by skilfully combining entertainment and environmental commitment. The concept is simple but effective: every ecological action carried out in the game (planting a tree, cleaning up waste) is reproduced in the real world.
Already boasting a community of 20,000 monthly players, MyLovely Planet is aiming for 100 million users by 2030. Its objective: plant 1 billion trees, clean up the oceans and save endangered species.
The game won the Unity For Humanity award for its positive impact. With 3 million euros raised and the support of renowned investors, the project has plenty to appeal to eco-friendly gamers.
To finance its development and increase its visibility, My Lovely Planet is currently selling $MLC tokens. Given the potential and scope of the project, it is highly likely that the price of this token will soar in the coming months.
Conclusion:
From a next-generation exchange platform to an eco-friendly video game, from DeFi to the sports metaverse, Web3 projects continue to push the boundaries of innovation. Although they involve a degree of risk inherent in crypto-investment, these new players could well make their mark in 2024. Provided, as always, that you invest with discernment and a long-term vision. Only time will tell which will come out on top.
Grayscale, a leading investment manager, has announced its intention to launch a smaller version of its Grayscale Bitcoin Trust, known as GBTC, through a new product dubbed the “mini” trust.
This new offering, aiming for a listing under the ticker symbol “BTC,” was introduced to the United States Securities and Exchange Commission (SEC) via an S-1 form on March 11.
Upon SEC approval, the Grayscale Bitcoin Mini Trust plans to make its debut on the New York Stock Exchange, operating independently from the original GBTC fund.
This innovative trust is designed to distribute shares to current GBTC investors, with an additional contribution of Bitcoin from GBTC itself, although the exact amount remains unspecified.
One of the main goals of this new trust is to provide GBTC shareholders with a tax-efficient method to gain exposure to Bitcoin.
Bloomberg ETF analyst James Seyffart elaborated on the benefits via a March 12 X post, stating, “There is no fee disclosed yet or what % of $GBTC will spin off but pretty sure this will be a non-taxable event for a chunk of those shares to get into a cheaper and cost-competitive product.”
READ MORE: Bitcoin ETFs Will Hold Over 10% of BTC Supply By Q3
The timing of Grayscale’s filing coincides with Bitcoin reaching a record-breaking high of $71,415 on March 11, following Ether’s significant milestone of surpassing the $4,000 mark earlier in the month.
In response to the flourishing cryptocurrency market, asset manager VanEck announced a fee waiver for its Bitcoin Trust ETF, applying to the first $1.5 billion in funds through March 31, 2025, underscoring the competitive environment in the ETF space.
The broader ETF market is also witnessing significant activity, with U.S. spot Bitcoin ETFs achieving a historic $10 billion in daily trading volume on March 5.
This surge in activity surpasses the previous record set just a week earlier.
However, the SEC’s lack of communication regarding Ether-based ETFs has led to skepticism about their approval.
Senior Bloomberg ETF analyst Eric Balchunas expressed concerns about the prospects for Ether ETFs, noting, “The main thing is the fact that we’re 73 days from the final deadline, and there’s been no contact or comments from the SEC to the issuers.
“That’s not a good sign.”
This silence casts doubt on the potential approval of Ether-based ETFs by May, reflecting the regulatory uncertainties surrounding cryptocurrency investments.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Lookonchain, a crypto surveillance platform, has disclosed concerning updates about the notorious Bitrue Drainer, an address linked to a significant security breach.
The entity behind a massive $23.5 million theft from Bitrue Exchange last year has made a considerable transaction, selling cryptocurrencies.
“The #Bitrue Drainer sold 4,207 $ETH for 16.34M $DAI at $3,885 8 hours ago.#BitrueDrainer stole $23.5M assets on April 14, 2023, including: 137,000 $QNT($17M) 46.4M $GALA($2M) 172.55B $SHIB($1.91M) 756M $HOT($1.54M) 318 $ETH($640K) 310,071 $MATIC($352K) Then sold 137,000 $QNT”
In a recent event, Lookonchain reported that the Bitrue Drainer exchanged 4,207 ETH for $16.34 million in DAI stablecoins, averaging $3,885 per ETH.
This move comes after the April 14, 2023, breach, where the hacker amassed a fortune in various cryptocurrencies, including 137,000 Quant (QNT), 46.4 million Gala (GALA), 172.55 billion Shiba Inu (SHIB), 756 million Holo (HOT), 318 ETH, and 310,051 Polygon (MATIC).
Post-theft activities saw the hacker actively selling stolen assets. Following the breach, 137,000 QNT were sold, fetching $14.74 million in Ethereum, which led to a more than 9% drop in QNT’s price within a few hours.
Subsequent sales included 46.4 million GALA for $1.86 million, 22.55 billion SHIB for $236K, and 310,071 MATIC for $343K.
These transactions were primarily converted into Ethereum.
Despite these sales, the Bitrue Drainer still possesses a substantial amount of digital assets, including 4,650 Ethereum, 150 billion SHIB, and 756 million HOT.
The combined value of these holdings is approximately $17.68 million, $4.7 million, and $2.9 million, respectively.
The original theft’s value was around $23.5 million, but due to recent market gains, the remaining assets’ value has significantly increased, surpassing the initial amount stolen.
This development suggests that the Bitrue Drainer continues to hold a fortune far exceeding the value of the originally stolen funds, despite the large-scale liquidations that have taken place.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Shiba Inu ($SHIB) has had a relatively modest week by its standards, posting a gain of just 2.64% over the last 7 days as it currently trades around the $0.000033 mark.
However, over the last 30 days, it is 247% up and has outperformed most rival cryptocurrencies, including Dogecoin ($DOGE).
Meanwhile, Zap Protocol ($ZAP), which was launched back in 2018, has enjoyed a rally of around 110% over the last 7 days – and it’s poised to breach the $0.01 barrier in the coming days or even just hours.
Despite its recent rally, Zap’s token still just has a market cap of less than $2 million and it would deliver a 100x return if it were to return to its all-time high.
Shiba Inu and Zap Protocol Price Prediction
Despite SHIB encountering some resistance and trading somewhat sideways for the last week, the memecoin is in a good position to capitalize on growing interest in the crypto space and breach the $0.00004 mark sometime in March.
In the longer term, we expect SHIB to at least recover to its all-time high – which would deliver a 100% return at the current entry price.
ZAP token, on the other hand, is well positioned to rally as high as the $0.02 mark before the end of March, delivering a circa 150% return on investment at the current entry price of circa $0.0075.
By the end of 2024, we expect Zap Protocol’s token to be trading between $0.20 and $0.45, although this is contingent on Bitcoin continuing to enjoy a strong run, buoyed by the recent approval of spot Bitcoin ETFs in the US.
Both SHIB and ZAP are attractive tokens to buy in the current bull market, and it would be wise to simultaneously allocate capital to both of these tokens – plus Bitcoin – to give your portfolio a degree of balance.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The London Stock Exchange (LSE) is gearing up to broaden its financial product offerings by incorporating crypto exchange-traded notes (ETNs) for Bitcoin and Ether.
This significant development is set to unfold in the second quarter of 2024, with the LSE poised to start receiving applications for these novel ETNs.
The announcement made on March 11 delineates a strategic move towards embracing the burgeoning realm of cryptocurrency within the established frameworks of traditional financial markets.
The LSE has outlined specific criteria for the admission of crypto ETNs in its recently published Crypto ETN Admission Factsheet.
Although an exact commencement date for accepting applications has not been disclosed, the exchange has made clear its requirements.
For an ETN to be considered, it must be physically backed by Bitcoin or Ether and refrain from leveraging.
A critical stipulation is the transparent availability of the market price or value of the underlying crypto asset.
Furthermore, the crypto assets backing the ETNs must be securely stored, preferably in cold wallets, and the custodians of these assets must comply with Anti-Money Laundering legislation from the UK, EU, Switzerland, or the US.
READ MORE: Grayscale and Coinbase Meet with SEC to Push for Spot Ether ETFs
ETNs, defined by the exchange as debt securities linked to an underlying asset, offer investors an opportunity to engage with the performance of cryptocurrencies within regulated trading hours.
This method presents a less direct approach compared to exchange-traded funds (ETFs), with ETNs being backed by issuer’s credit rather than a collective pool of assets, and is viewed as a softer alternative for those seeking exposure to crypto assets.
Parallel to the LSE’s initiative, the UK’s Financial Conduct Authority (FCA) has also indicated a willingness to accommodate Recognised Investment Exchanges (RIEs) wishing to establish market segments for crypto-backed ETNs, albeit restricted to professional investors.
This category encompasses authorized or regulated credit institutions and investment firms.
The FCA emphasizes the need for stringent controls to safeguard investors and mandates adherence to the UK’s listing regime, including ongoing disclosure and the provision of prospectuses.
Despite this openness towards institutional engagement with crypto-backed ETNs, the FCA maintains a cautious stance towards retail investors, citing the high-risk nature of cryptoassets.
The authority has reiterated its position that such investments are not suitable for the retail market, warning of the potential for total loss and underscoring the largely unregulated status of cryptoassets.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Elon Musk announced the decision to open source xAI’s artificial intelligence model, Grok, amid a growing lawsuit with OpenAI, a rival AI chatbot developer.
Musk’s announcement on X on March 11 reveals Grok will become open source starting this week, though he provided no further details on the move.
This decision was met with positive feedback on X, where one user suggested OpenAI should follow suit, prompting Musk to criticize OpenAI as “a lie.”
The backdrop to Musk’s announcement is a lawsuit he filed on February 29 against OpenAI, accusing it of breaching the founding agreement by partnering with Microsoft, which had invested nearly $3 billion into OpenAI by the end of 2023.
Musk’s legal action seeks to compel OpenAI to adhere to its original open-source and non-profit commitments, aimed at developing artificial general intelligence (AGI) for humanity’s benefit.
This move comes amid escalating tensions marked by OpenAI transitioning into a profit-driven entity, a change Musk initially appeared to support based on emails released by OpenAI executives after the lawsuit.
Further complicating the scenario, OpenAI reinstated Sam Altman as a board member following a brief dismissal, acknowledging the instability his absence caused within the company.
Musk’s push for making Grok open source echoes his lawsuit’s plea for a return to open-source AGI development for global benefit.
Grok, developed by Musk’s xAI, stands out as it integrates with the X social media platform, providing real-time information access and handling sensitive topics often avoided by other AI systems.
To interact with Grok, users need a verified X account. Performance-wise, Grok is positioned between OpenAI’s ChatGPT-3.5 and the more advanced ChatGPT-4, showcasing its competitive edge in the AI landscape.
Musk’s latest move signals a significant step towards advocating for open-source principles in AI development, amidst ongoing legal and ethical debates surrounding the future of artificial intelligence.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The Layer-2 blockchain network Arbitrum is gearing up for a significant event on March 16, as it plans to release $2.32 billion worth of Arbitrum (ARB) tokens from vesting.
According to data from Token Unlocks, this release will involve approximately 1.1 billion ARB tokens, constituting about 76% of the token’s current circulating supply.
The breakdown of the distribution includes 673.5 million tokens, valued at roughly $1.41 billion, allocated for the Arbitrum team and advisers.
Additionally, 438.25 million tokens, with an approximate value of $915 million, are earmarked for the project’s investors.
This event is characterized as a “Cliff Unlock,” meaning that all these tokens will be made available at once on the unlock date, without any gradual release leading up to this point.
The impending unlock has stirred discussions within the cryptocurrency community, with expectations of potential price fluctuations for the ARB token.
READ MORE: Grayscale and Coinbase Meet with SEC to Push for Spot Ether ETFs
Some community members are considering short positions against ARB in anticipation of the unlock, while others have opted to sell their holdings beforehand.
In contrast, JJcycles, a crypto influencer on X, offered a more optimistic view by drawing parallels to a similar event with Solana, which saw its token price increase following a token unlock, contrary to common expectations.
The coming week will also see other blockchain projects releasing their vested tokens.
Specifically, on March 13, Aptos is set to unlock about 24 million of its tokens, valued at around $329 million, which represents 6.73% of its current circulating supply, designated for its foundation, community, core contributors, and investors.
Additionally, several other projects, including APE, Flow, CyberConnect, Moonbeam, and Euler, are scheduled to release vested tokens, contributing to a total of approximately $53 million in digital assets.
Consequently, the total value of tokens expected to be unlocked this week amounts to around $2.7 billion, highlighting a significant period of activity within the digital asset market.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The cryptocurrency world is once again abuzz with excitement as Shiba Inu (SHIB), a meme-based digital currency, experiences a surge in its market price, echoing sentiments of a possible repeat of its meteoric rise back in 2021.
Investors are on edge, speculating on a potential resurgence that mirrors the past glory of SHIB’s performance.
In the midst of this growing anticipation, Ali Martinez, a well-regarded cryptocurrency analyst, has brought to light a critical observation in SHIB’s price movement.
Through a meticulous technical analysis, Martinez has pinpointed a symmetrical triangle pattern on SHIB’s four-hour chart.
This pattern is characterized by two converging trendlines, one ascending and the other descending, meeting at a point and is widely recognized in the trading world as a harbinger of a possible price breakout, which could swing in either direction.
This technical formation was identified following a period of heightened price volatility that commenced on March 5th. Such volatility often leads to a phase of consolidation before the market makes a decisive move.
Martinez posits that if SHIB can sustain a closing price above the pivotal resistance level of $0.000038, it could trigger a bullish rally, potentially enhancing its value by up to 40%, aiming for a target price of $0.000052.
Shiba Inu has not only demonstrated a significant increase in its valuation since the beginning of March, with its price more than tripling, but it has also cemented its position as a formidable player in the cryptocurrency arena.
READ MORE: Binance Ban Adversely Impacts Crypto Sphere
As of the latest figures, SHIB trades at $0.00003273 and proudly stands as the 10th largest cryptocurrency by market capitalization, which is currently valued at $19.22 billion.
This remarkable achievement highlights the meme coin’s enduring appeal and market strength.
However, the future for Shiba Inu remains uncertain and highly dependent on several market dynamics.
The investor community is keenly observing SHIB’s price behavior for any signs of the anticipated breakout.
While Martinez’s analysis hints at a bullish journey towards $0.00005, stakeholders must also brace for the inherent volatility that comes with the territory of cryptocurrency investments.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.