The journey for the cryptocurrency Shiba Inu (SHIB) towards a potential price of 2.5 cents has been filled with challenges and fluctuations.
Recently, the crypto market experienced a surge of enthusiasm that temporarily boosted several tokens, including Shiba Inu.
However, this optimism quickly waned as the market downturn took over, leading to a significant decrease in SHIB’s value.
Currently, Shiba Inu is priced at $0.00002259, reflecting an 8.14% drop over the past week and a stark 32% decline from its price 60 days ago.
Despite the enthusiasm of SHIB supporters for a substantial increase to $0.025, the path to reaching such a milestone appears increasingly difficult.
Amidst these market uncertainties, the analytics platform Telegaon has provided some insights into SHIB’s future price movements.
According to their analysis, Shiba Inu might achieve the $0.025 mark between the years 2035 and 2040.
Starting from its current price, SHIB would need to undergo a massive rally of 110,568% to reach this target.
This ambitious growth forecast is not unfounded considering Shiba Inu’s historical performance.
In January 2021, SHIB was trading at a mere $0.00000001, as per data from CoinMarketCap.
By October of the same year, the cryptocurrency had surged to its all-time high of $0.00008845, marking an impressive 884,400% increase.
This historical precedent suggests that a 110,568% rally is within the realm of possibility for Shiba Inu.
In their forecast, Telegaon anticipates that SHIB will eliminate three leading zeros from its price to hit the $0.025 mark in about 16 years.
This view is corroborated by analysts at the cryptocurrency exchange Changelly, who also support a 2040 timeline for Shiba Inu to reach this price threshold.
As the crypto community watches these developments, the potential for Shiba Inu to replicate its past explosive growth remains a topic of keen interest and speculation.
The consensus among experts seems to lean towards a long-term horizon for SHIB to achieve these ambitious goals.
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Bitcoin‘s annual volatility has recently dipped below that of top tech stocks like Tesla, Meta, and Nvidia, positioning it closer to a more mature and stable asset class.
As of May 11, the 1-year realized volatility of Bitcoin was approximately 44.88%, which is lower than the over 50% seen in these major tech stocks.
This marks a significant shift from Bitcoin’s earlier days when its volatility exceeded 200%, reflecting the usual traits of a new asset class experiencing high capital inflows.
The decreasing volatility signifies Bitcoin’s evolution, as Fidelity Investments reports.
Notably, Bitcoin showed lower volatility compared to 33 out of approximately 500 S&P 500 index companies.
A pivotal observation made in October 2023 highlighted that “Bitcoin was actually less volatile than 92 of the S&P 500 stocks in October of 2023 when using the 90-day realized historical volatility figures.
Some of these names are also large-cap and mega-cap stocks.” This suggests a growing stability relative to significant market players.
Bitcoin’s stability trajectory mirrors that of gold in its early years, which initially faced high volatility followed by gradual stabilization.
Gold, after its decoupling from the U.S. dollar in 1971, saw its volatility soar above 80 in the 1970s, nearly double that of Bitcoin’s in April 2024.
However, as gold settled into an established asset class, its volatility lessened, paralleling Bitcoin’s current path toward integration into the broader financial landscape.
Recent comparisons further underscore Bitcoin’s maturation.
Its current volatility is around 44% at price levels above $60,000, significantly lower than the 80% noted three years prior when prices were similar.
Fidelity researcher Zack Wainwright explains the implications, stating, “Bitcoin was nearly half as volatile in 2024 at $60,000 when compared with 2021.
When putting this all together, a thesis pointing toward a growing acceptance of Bitcoin due to potential maturation begins to emerge.”
The reduction in volatility has often preceded substantial price surges, indicating an increase in investor confidence and accumulation behavior.
This pattern was observed in December 2023, when Bitcoin’s reduced volatility of about 43% was followed by a 75% price increase, driven by demand for spot Bitcoin ETFs in the U.S., which had attracted $11.68 billion by May 11.
Looking ahead, significant investment inflows are expected from major institutional players, including sovereign wealth funds and pension funds, engaging with Bitcoin ETFs.
BlackRock’s Robert Mitchnick and independent market analyst Scott Melker suggest that the growing institutional involvement, driven by Bitcoin’s newfound stability, could propel its price to between $100,000 and $150,000.
Melker emphasizes the importance of patience, noting, “The massive institutional flood of money that will drive bitcoin to all-time highs.”
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OKX Ventures, a Crypto and Web3 investment fund, recently backed the action role-playing game Blade of God X, developed by Void Labs.
The game, which is still in early access, introduces a novel “play to train” feature.
This feature enables gamers to influence the training of an artificial intelligence (AI) model through their gameplay.
In a press release, OKX Ventures described this innovative concept as a fusion of “advanced AI agents with blockchain technology,” allowing players to directly train their AI agents as they play the game.
However, specifics about the AI models and the exact mechanisms by which gameplay aids in their training remain vague.
Inquiries made by Cointelegraph to OKX Ventures and Void Labs regarding these details have not yet been answered.
Blade of God X aligns itself with the “Souls-like” genre, recognized for its intricate action sequences, and is currently available for download on the Epic Game Store.
While the game itself is free, engaging with its blockchain components may necessitate payments or wallet interactions.
These blockchain features include functionalities that integrate with Immutable X and Ethereum Virtual Machine chains, as noted in the Epic Games Store’s FAQ section.
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Players interested in the game’s Web3 aspects can utilize tools like MetaMask, GameStop, Venly, Coinbase Wallet, Magic Link, or Immutable Passport to trade and customize their gaming experience.
According to the press release, the Blade of God series has amassed over six million downloads to date, with Blade of God X itself securing $6 million in funding.
The game’s partnership network includes notable investors such as Delphi Ventures, BreederDAO, and Eden Holdings among others.
Tnise, the founder of Void Labs, expressed gratitude for the support from OKX Ventures, noting, “This partnership will provide us with the necessary resources and guidance to continue innovating, broaden our horizons and deliver exceptional gaming experiences to players worldwide.”
Blade of God X represents a blending of traditional gaming with the emerging technologies of AI and blockchain, offering players both a rich gaming experience and an opportunity to partake in the development of AI through interactive gameplay.
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MAGA Shiba Inu (MAGASHIB) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
MAGA Shiba Inu (MAGASHIB), a new Solana memecoin that was launched today, is poised to explode over 13,000% in price in the coming days.
This is because MAGASHIB has announced its first centralized exchange listing, which will be on MEXC – one of the largest exchanges in the world.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, MAGA Shiba Inu can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and MAGA Shiba Inu could become the next viral memecoin.
MAGA Shiba Inu launched with over $7,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy MAGA Shiba Inu on Raydium or Jupiter ahead of the MEXC listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for MAGA Shiba Inu by entering its contract address – 73mqxPkM9P59GeudJ2DT8i2v94QfLkfVVbfQnU2DTP5r – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MAGASHIB.
Bitcoin‘s trajectory is mirroring its post-2016 halving event, with current analyses suggesting a potential local bottom and future peaks reaching up to $350,000 in this cycle, as observed by cryptocurrency traders.
Rekt Capital, a pseudonymous crypto trader, noted in a May 11 post on X (formerly Twitter) that Bitcoin’s pattern closely follows its 2016 behavior.
“Bitcoin has repeated 2016 history perfectly, offering a downside wick below the bottom of its current re-accumulation range within a three-week window after the Halving,” Rekt Capital stated.
At this stage in the cycle, the reaccumulation range is defined as any price under $61,081. Presently, Bitcoin’s trading price slightly lags this benchmark at $60,901, based on CoinMarketCap data.
Rekt also pointed out that Bitcoin is in the last “pre-halving retrace” phase, which in 2016 led to a significant 48% price increase six months later, reaching $973 by December 30.
Despite the current prices, Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, sees a promising outlook based on the price drawdown from the all-time high (ATH) chart.
This chart tracks the decline from Bitcoin’s highest price point to its lowest within a certain period.
Peterson stated, “Based on adoption and prior drawdowns, we can guesstimate that the peak value of this cycle would be between $175,000 – $350,000 in the next 9 months.”
He anticipates the bull market concluding by January 2025.
Additionally, another indicator, the daily 100 moving average, is being closely watched by analysts.
This average, which forecasts long-term Bitcoin price trends, is calculated by summing up the last 100 days’ prices and dividing by 100.
According to Daan Crypto traders, this indicates that Bitcoin might be near its local bottom.
In their May 11 post, they drew comparisons to a similar trend observed following the approval of 11 spot Bitcoin exchange-traded funds in January.
A subsequent 32% price rise to $51,730 by February 25 supported their analysis.
Daan Crypto traders concluded with a cautious optimism: “Support until it isn’t, but bulls need to put in some work.”
This sentiment underscores the dynamic and speculative nature of Bitcoin’s market movements, hinging on both historical patterns and evolving market conditions.
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Since its launch, the Runes protocol has witnessed a notable drop in activity.
Introduced by Casey Rodarmor, the creator of Ordinals, Runes enables the creation of fungible tokens on the Bitcoin blockchain.
Despite an initial surge in interest, recent weeks have seen a slowdown, with a significant reduction in both new mints and wallet interactions since May 10.
Data from Dune Analytics highlights a steady decline in the protocol’s fee revenue.
Although Runes continues to generate substantial daily fees on the Bitcoin blockchain, exceeding $1 million only twice in the last 12 days signals a declining trend.
“Although Runes still earns hundreds of thousands of dollars daily in fees on the Bitcoin blockchain, the total fees have only surpassed $1 million twice in the last 12 days,” noted a Dune Analytics dashboard.
The protocol was launched on April 20, coinciding with the latest Bitcoin halving event, and led to a frenzy among investors.
This frenzy was reflected in the Bitcoin network’s transaction fees, with Bitcoin miners earning a record-breaking $135 million in the first week following the Runes launch.
“The launch of Runes triggered a frenzy among investors, leading to a surge in transaction fees and a record-breaking windfall for Bitcoin miners, with over $135 million generated in fees during the first week alone,” reported Dune Analytics.
Initially, Runes-related transactions dominated the Bitcoin network, constituting the majority of the activity until April 24.
READ MORE: Grayscale Bitcoin Trust Struggles with Investor Outflows Despite May Influx
At its peak on April 23, Runes accounted for 81.3% of the transactions on the network.
However, the transaction share associated with Runes began to dwindle consistently over the following nine days, hitting a low by May 2. It briefly recovered, commanding over 60% of the transaction share on May 4 and 5.
Amid these developments, the mining community experienced fluctuating earnings, particularly after the Bitcoin halving when their revenues fell to below $30 million per day in May.
Despite the challenges, Runes has shown potential for significant market success. According to Magic Eden, several Rune collections have already achieved market capitalizations in the hundreds of millions.
Rodarmor recently teased further innovations at an Ordinals event in Hong Kong, hinting at an upcoming audioreactive generative art project, underscoring the continued potential and evolving nature of the Runes protocol.
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Jenny Johnson, the President and CEO of Franklin Templeton, a substantial financial entity managing assets worth $1.6 trillion, shared her insights on blockchain technology and its benefits during her interview with Bloomberg anchor David Westland at the 27th Annual Milken Institute Global Conference in California.
Johnson’s discussion covered various innovations, including tokenization and generative artificial intelligence, emphasizing her firm’s forward-looking approach in these areas.
During the interview, Johnson expressed her enthusiasm for blockchain.
She detailed an experiment conducted by Franklin Templeton, where they processed account records using both traditional methods and blockchain technology over six to eight months.
The experiment yielded encouraging results. “We were astonished by how much less costly it was to run it on blockchain,” Johnson revealed.
She predicted a significant shift in financial products to blockchain, citing its efficiency and the potential to reduce the substantial costs associated with data verification across different systems.
“It’s a very efficient technology, and we think it’s going to open up a lot of new investment opportunities. And, honestly, eventually, I think ETF and mutual funds are all going to be on blockchain,” she said.
Highlighting the practical applications of blockchain, Johnson referred to pop superstar Rhianna’s use of nonfungible tokens (NFTs).
Rhianna issued 300 NFTs, which allowed owners to earn a fraction of the royalties from one of her songs through a smart contract.
This example underscores blockchain’s ability to diversify investment opportunities and streamline data consistency.
“In the case of blockchain,” Johnson noted, “there’s only one source of truth.”
The conversation also touched on the topic of generative artificial intelligence. Johnson acknowledged the dual nature of generative AI technologies, likening it to “kind of like the kid who gets an ‘A’ in English and an ‘F’ in math.”
Despite the challenges, she remains optimistic about the potential applications of AI in finance. Johnson highlighted a collaboration between Franklin Templeton and Microsoft to develop an AI-powered sales assistant, illustrating the firm’s commitment to leveraging AI technology.
She also praised the potential of AI-driven translation services to overcome language barriers within the financial sector, hinting at the expansive future of AI in improving accessibility and efficiency in financial services.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Storm Trade, a decentralized derivatives trading platform built on the TON blockchain, is set to launch its native utility token, $STORM, in May or June of this year. The platform, which boasts direct integration with Telegram, aims to attract the next 10 million DeFi users by offering a user-friendly and highly accessible trading experience.
With a leverage of up to x50, Storm Trade offers a diverse range of synthetic assets, including popular cryptocurrencies, FOREX, equity, and precious metals. The platform has witnessed a remarkable trading volume of $8,749,409 in the last 24 hours.
The $STORM token launch is highly anticipated, with only approximately 4% of the total supply of 1B being made available for sale. Holders of the platform’s Market Makers NFT, which currently has a floor price of around $1,600, will have the opportunity to purchase the token first at a fixed minimum price.
The token offers significant utility, with staking and liquidity buffering. The total value locked (TVL) in the platform currently stands at $11,198,846.
A standout feature of Storm Trade is its direct integration with Telegram, making it the first perpetual decentralized exchange accessible within the popular messaging app. Users can trade a diverse range of assets including cryptocurrencies, forex, stocks, and commodities while receiving real-time updates, all without leaving Telegram. The platform prioritizes user safety through a non-custodial model and isolated margin trading to limit potential losses. Additionally, Storm Trade incorporates gamification elements like NFTs, avatars, and trading competitions to enhance the user experience.
Storm Trade has formed partnerships with notable organizations such as Gotbit, Cointelegraph, and ToncoinFund, further strengthening its position in the DeFi space. The project has also attracted significant interest from investors, with investment rounds being oversubscribed three times.
The platform’s long-term vision includes becoming the most widely adopted decentralized leveraged trading platform, governed by the $STORM token and generating revenue for distribution through a staking pool.
The seamless integration with Telegram sets Storm Trade apart from traditional on-chain platforms, offering users real-time notifications, direct access to the Telegram wallet, and rewards for traders and liquidity providers.
Token distribution:
- IDO: 4,2%
- Community & Ecosystem: 30%
- Investors: 17,9%
- Advisors: 5%
- Liquidity: 10%
- Team: 15%
- Airdrop: 3,5%
- Treasury: 14,4%
Storm Trade’s launch plan consists of four phases, with the public testnet and open beta phases already completed or in progress. The Market Makers NFT phase is currently underway, offering users the chance to acquire unique NFTs that grant whitelist access for the token launch. The final phase, the Token Generation Event (TGE), is estimated to take place in June 2024, with the token being launched on several leading launchpad platforms.
With its innovative approach to derivatives trading, strong partnerships, and a utility-focused token, Storm Trade is well-positioned to make a significant impact in the DeFi space. As the platform continues to grow and attract users, the upcoming $STORM token launch presents a unique opportunity for investors and traders alike.
MAGA Shiba Inu (MAGASHIB) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
MAGA Shiba Inu (MAGASHIB), a new Solana memecoin that was launched today, is poised to explode over 13,000% in price in the coming days.
This is because MAGASHIB has announced its first centralized exchange listing, which will be on MEXC – one of the largest exchanges in the world.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, MAGA Shiba Inu can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and MAGA Shiba Inu could become the next viral memecoin.
MAGA Shiba Inu launched with over $7,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy MAGA Shiba Inu on Raydium or Jupiter ahead of the MEXC listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for MAGA Shiba Inu by entering its contract address – 73mqxPkM9P59GeudJ2DT8i2v94QfLkfVVbfQnU2DTP5r – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MAGASHIB.
The United States Securities and Exchange Commission (SEC) has rejected Coinbase’s request for an interlocutory appeal in their ongoing legal dispute, citing manipulation of the appeal’s question to fit legal criteria under 28 U.S.C. § 1292(b).
The SEC articulated this in a filing with the U.S. District Court for the Southern District of New York on May 10, stating, “Coinbase’s attempts to manipulate the question for appeal to shoehorn it into a certifiable question under 28 U.S.C. § 1292(b) are self-defeating.”
The core of the dispute revolves around Coinbase’s dissatisfaction with the Howey test, which the SEC uses to determine whether an offering qualifies as a security.
The SEC’s filing reiterates Coinbase’s antagonism towards the test and existing securities regulations, suggesting that Coinbase structured its business to avoid compliance costs, summarized by the SEC’s remark, “Coinbase just does not like the answer.
Having made the weather, Coinbase cannot now complain that it is raining.”
On April 12, Coinbase filed for the appeal, challenging the notion that an investment contract necessitates a post-sale obligation.
This led to a debate over whether this forms a controlling question—a significant legal query that could influence the lawsuit’s outcome.
The SEC opposes this appeal, arguing that Coinbase has failed to present a consistent interpretation of what constitutes a “contractual undertaking.”
The agency emphasized that no court in the past 80 years has required such post-sale obligations.
According to the SEC, “Coinbase remains unable to advance a single, coherent version of this theory, which it now claims presents a controlling question.”
Moreover, the SEC believes that Coinbase’s proposal of a new legal test and disagreement with the court’s previous decision do not justify the certification of an appeal.
The filing states, “Interlocutory review is not warranted simply because Coinbase proposes a new legal test and disagrees with the Court’s rejection of that test.”
The SEC initiated legal action against Coinbase in June 2023, accusing the exchange of violating federal securities laws by listing 13 tokens it claims are securities.
Coinbase maintains that the transactions on its platform do not fall under securities regulations—a stance directly opposed by the SEC, which considers some of these transactions to constitute “investment contracts” under federal law, as noted in court documents dated March 27.
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