Binance Square
LIVE
CryptoPotato
@CryptoPotato_official
Established in 2016, CryptoPotato is attracting millions monthly visitors and always insisting on high-end news, editorials and educational guides.
Following
Followers
Liked
Shared
All Content
LIVE
--
Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? Popular Analyst Chips inTL;DR Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases of 30% and 10%, respectively, with analysts predicting further growth. Key factors possibly contributing to Shiba Inu’s future rally are the token burn rate and advancements related to the L2 scaling solution Shibarium. The cryptocurrency sector has rebounded in the past week, with two of the best-performing assets being Dogecoin (DOGE) and Shiba Inu (SHIB). The largest meme coins by market capitalization are up 30% and 10% on a 7-day scale, respectively. According to some analysts the upswing is nowhere near its end and might lead to new peaks in the near future. Such a bullish statement was presented by the popular X user Rekt Capital. The trader suggested that DOGE has ended its “macro downtrend” and begun a new “macro uptrend.” Rekt Capital believes closing above the $0.20 at the end of March might fuel a rally towards the $0.30 mark (a valuation unseen since October 2021). Dogecoin’s price surge coincided with the increase of some important metrics related to its ecosystem. As CryptoPotato reported, aggregated daily volume (where each transaction is larger than $100K) jumped by nearly 100%, whereas daily active addresses spiked by 13%. According to IntoTheBlock, nearly 90% of all DOGE holders are currently sitting on paper profits. The trends were much different in September last year when almost 60% of Dogecoin investors were underwater. The analyst touched upon SHIB, too, predicting a rise to almost a new all-time high should the asset’s price surpass the major resistance level of $0.000033285. “Retest was successful. SHIB history is repeating itself,” Rekt Capital argued.  The meme coin’s rally is in tune with the increase of its burning mechanism. Yesterday (March 28), the SHIB burn rate exploded by 1,200%, resulting in over 51 million tokens destroyed.  Another factor that could fuel a Shiba Inu uptrend is the further advancement of the layer-2 blockchain solution Shibarium. Earlier this month, total transactions on the network surpassed the 400 million mark. Those willing to learn more about the feature and how it can foster the development of the meme coin, feel free to watch our dedicated video below: The post Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? Popular Analyst Chips in appeared first on CryptoPotato.

Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? Popular Analyst Chips in

TL;DR

Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases of 30% and 10%, respectively, with analysts predicting further growth.

Key factors possibly contributing to Shiba Inu’s future rally are the token burn rate and advancements related to the L2 scaling solution Shibarium.

The cryptocurrency sector has rebounded in the past week, with two of the best-performing assets being Dogecoin (DOGE) and Shiba Inu (SHIB). The largest meme coins by market capitalization are up 30% and 10% on a 7-day scale, respectively.

According to some analysts the upswing is nowhere near its end and might lead to new peaks in the near future. Such a bullish statement was presented by the popular X user Rekt Capital.

The trader suggested that DOGE has ended its “macro downtrend” and begun a new “macro uptrend.” Rekt Capital believes closing above the $0.20 at the end of March might fuel a rally towards the $0.30 mark (a valuation unseen since October 2021).

Dogecoin’s price surge coincided with the increase of some important metrics related to its ecosystem. As CryptoPotato reported, aggregated daily volume (where each transaction is larger than $100K) jumped by nearly 100%, whereas daily active addresses spiked by 13%.

According to IntoTheBlock, nearly 90% of all DOGE holders are currently sitting on paper profits. The trends were much different in September last year when almost 60% of Dogecoin investors were underwater.

The analyst touched upon SHIB, too, predicting a rise to almost a new all-time high should the asset’s price surpass the major resistance level of $0.000033285. “Retest was successful. SHIB history is repeating itself,” Rekt Capital argued. 

The meme coin’s rally is in tune with the increase of its burning mechanism. Yesterday (March 28), the SHIB burn rate exploded by 1,200%, resulting in over 51 million tokens destroyed. 

Another factor that could fuel a Shiba Inu uptrend is the further advancement of the layer-2 blockchain solution Shibarium. Earlier this month, total transactions on the network surpassed the 400 million mark. Those willing to learn more about the feature and how it can foster the development of the meme coin, feel free to watch our dedicated video below:

The post Are Dogecoin (DOGE) and Shiba Inu (SHIB) Poised for Further Gains? Popular Analyst Chips in appeared first on CryptoPotato.
Bitcoin Wobbly At $70K, Dogecoin’s Rise Above $0.2 Continues (Market Watch)Bitcoin went as high as $71,700 yesterday but failed to overcome the $72,000 level and has returned to around $70,000 as of now. Most altcoins are also quieter today, with red dominating almost all charts. DOGE and BNB, though, are well in the green. BTC Retraces to $70K The past five days or so went a lot better than the previous week when Bitcoin slumped hard by over ten grand to a low of under $61,000. It recovered some of the losses last weekend and went on the offensive on Monday and Tuesday. Wednesday saw another leg up that resulted in BTC jumping to a 15-day high of $71,700. However, the bears intercepted the move and pushed the cryptocurrency south hard. In a matter of hours, the asset fell by over three grand to just over $68,000. Nevertheless, it quickly started recovering the lost ground and spiked to $71,500 once again yesterday. The scenario repeated, though, and Bitcoin couldn’t go any further. The rejection has been less violent, at least for now, and BTC currently trades at around $70,000. It’s worth noting that there are signs of upcoming volatility today and during the weekend. Its market capitalization has slipped to $1.375 trillion on CoinGecko, and its dominance over the altcoins has retraced slightly to 49.7%. BTCUSD. Source: TradingView DOGE Keeps Rolling The largest meme coin went on a massive roll yesterday as it surpassed $0.2 and reached $0.23 intraday for the first time in over three years. Despite retracing slightly since then, DOGE is still 5% up on a 24-hour scale and sits north of $0.21. Bitcoin Cash was the other notable gainer yesterday. Just a few days ahead of its second halving, BCH is up by 3% again today and trades above $580. Binance Coin is also in the green from the larger-cap alts. In contrast, ETH, SOL, XRP, ADA, AVAX, TON, SHIB, DOT, and LINK have all retraced by somewhere between 1% and 3%. The total crypto market cap has retraced by about $30 billion and is down to $2.770 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post Bitcoin Wobbly at $70K, Dogecoin’s Rise Above $0.2 Continues (Market Watch) appeared first on CryptoPotato.

Bitcoin Wobbly At $70K, Dogecoin’s Rise Above $0.2 Continues (Market Watch)

Bitcoin went as high as $71,700 yesterday but failed to overcome the $72,000 level and has returned to around $70,000 as of now.

Most altcoins are also quieter today, with red dominating almost all charts. DOGE and BNB, though, are well in the green.

BTC Retraces to $70K

The past five days or so went a lot better than the previous week when Bitcoin slumped hard by over ten grand to a low of under $61,000. It recovered some of the losses last weekend and went on the offensive on Monday and Tuesday.

Wednesday saw another leg up that resulted in BTC jumping to a 15-day high of $71,700. However, the bears intercepted the move and pushed the cryptocurrency south hard. In a matter of hours, the asset fell by over three grand to just over $68,000.

Nevertheless, it quickly started recovering the lost ground and spiked to $71,500 once again yesterday. The scenario repeated, though, and Bitcoin couldn’t go any further. The rejection has been less violent, at least for now, and BTC currently trades at around $70,000. It’s worth noting that there are signs of upcoming volatility today and during the weekend.

Its market capitalization has slipped to $1.375 trillion on CoinGecko, and its dominance over the altcoins has retraced slightly to 49.7%.

BTCUSD. Source: TradingView DOGE Keeps Rolling

The largest meme coin went on a massive roll yesterday as it surpassed $0.2 and reached $0.23 intraday for the first time in over three years. Despite retracing slightly since then, DOGE is still 5% up on a 24-hour scale and sits north of $0.21.

Bitcoin Cash was the other notable gainer yesterday. Just a few days ahead of its second halving, BCH is up by 3% again today and trades above $580. Binance Coin is also in the green from the larger-cap alts.

In contrast, ETH, SOL, XRP, ADA, AVAX, TON, SHIB, DOT, and LINK have all retraced by somewhere between 1% and 3%.

The total crypto market cap has retraced by about $30 billion and is down to $2.770 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

The post Bitcoin Wobbly at $70K, Dogecoin’s Rise Above $0.2 Continues (Market Watch) appeared first on CryptoPotato.
Fed Rate Cuts Hold the Key to Decoding Bitcoin’s Cyclical Behavior, Analyst SuggestsOn March 28, Into The Cryptoverse CEO Benjamin Cowen postulated whether the current Bitcoin market cycle is normal or a “left-translated” one, where the peak occurs earlier than usual. Bitcoin has already notched up a new all-time high and it is still three weeks to go until the halving. This has introduced the possibility of this cycle peak coming much earlier than previous ones, which happened in the year following the halving event. Fed Rate Cut Influence If Bitcoin markets pull back after any Federal Reserve rate cuts, it could put it back on track with prior cycles, potentially peaking in 2025. However, if there is no significant correction or consolidation period, it could suggest a left-translated peak. I think the answer to whether this #BTC market cycle is a normal one or left-translated will depend on how the market reacts to rate cuts in a few months. Thread — Benjamin Cowen (@intocryptoverse) March 28, 2024 The Fed kept rates the same at 5.5% during its last meeting on March 20, which initiated a lot of immediate volatility. Its next policy and rate decision meeting is in May, but 95.8% of observers think it will remain unchanged again, according to the CME FedWatch Tool. Cowen compared the price action in 2013 and 2021, with blow-off tops in April followed by another top in November. He suggested that a similar pattern in this cycle could indicate a left-translated cycle. “If BTC gets a correction after rate cuts arrive that lasts through Q4 (meaning no new mania phase in Q4), then I think we could get a standard cycle peak in the post-halving year.” Comparing the current cycle’s returns to post-halving years, he noted that if the peak is translated one year ahead, 2023’s returns may resemble post-halving years. Ultimately, this bull market cycle will be dependent on Bitcoin’s reaction after rate cuts arrive later this year, he said. “I would suspect that the market finally cools off after April,” he said before concluding, “Then this summer the debate will be around if the market picks back up again in Q4 or if we have to wait until 2025 for another move.” Cycle Comparisons On-chain analytics platform Glassnode also made some comparisons to previous market cycles. By both duration and distance from the April 2021 peak, the market is in a near identical spot to December 2020, relative to the 2018-21 cycle, it noted. If we index the #Bitcoin price performance (black) since the April 2021 ATH (where we argue bear market sentiment set in), we can see a remarkable similarity to the prior cycle (blue). By both duration and distance from the April 2021 peak, the market is in a near identical… pic.twitter.com/mOGfSF6apG — glassnode (@glassnode) March 28, 2024 The post Fed Rate Cuts Hold the Key to Decoding Bitcoin’s Cyclical Behavior, Analyst Suggests appeared first on CryptoPotato.

Fed Rate Cuts Hold the Key to Decoding Bitcoin’s Cyclical Behavior, Analyst Suggests

On March 28, Into The Cryptoverse CEO Benjamin Cowen postulated whether the current Bitcoin market cycle is normal or a “left-translated” one, where the peak occurs earlier than usual.

Bitcoin has already notched up a new all-time high and it is still three weeks to go until the halving.

This has introduced the possibility of this cycle peak coming much earlier than previous ones, which happened in the year following the halving event.

Fed Rate Cut Influence

If Bitcoin markets pull back after any Federal Reserve rate cuts, it could put it back on track with prior cycles, potentially peaking in 2025. However, if there is no significant correction or consolidation period, it could suggest a left-translated peak.

I think the answer to whether this #BTC market cycle is a normal one or left-translated will depend on how the market reacts to rate cuts in a few months.

Thread

— Benjamin Cowen (@intocryptoverse) March 28, 2024

The Fed kept rates the same at 5.5% during its last meeting on March 20, which initiated a lot of immediate volatility. Its next policy and rate decision meeting is in May, but 95.8% of observers think it will remain unchanged again, according to the CME FedWatch Tool.

Cowen compared the price action in 2013 and 2021, with blow-off tops in April followed by another top in November. He suggested that a similar pattern in this cycle could indicate a left-translated cycle.

“If BTC gets a correction after rate cuts arrive that lasts through Q4 (meaning no new mania phase in Q4), then I think we could get a standard cycle peak in the post-halving year.”

Comparing the current cycle’s returns to post-halving years, he noted that if the peak is translated one year ahead, 2023’s returns may resemble post-halving years.

Ultimately, this bull market cycle will be dependent on Bitcoin’s reaction after rate cuts arrive later this year, he said.

“I would suspect that the market finally cools off after April,” he said before concluding, “Then this summer the debate will be around if the market picks back up again in Q4 or if we have to wait until 2025 for another move.”

Cycle Comparisons

On-chain analytics platform Glassnode also made some comparisons to previous market cycles.

By both duration and distance from the April 2021 peak, the market is in a near identical spot to December 2020, relative to the 2018-21 cycle, it noted.

If we index the #Bitcoin price performance (black) since the April 2021 ATH (where we argue bear market sentiment set in), we can see a remarkable similarity to the prior cycle (blue).

By both duration and distance from the April 2021 peak, the market is in a near identical… pic.twitter.com/mOGfSF6apG

— glassnode (@glassnode) March 28, 2024

The post Fed Rate Cuts Hold the Key to Decoding Bitcoin’s Cyclical Behavior, Analyst Suggests appeared first on CryptoPotato.
A Whopping $15B in Crypto Options Are About to Expire, Will Markets React? March 29 is an end-of-quarter Bitcoin options expiry event, and it is a big one. There are approximately 135,250 BTC options contracts expiring today. The notional value of today’s big batch of Bitcoin derivatives is a whopping $9.74 billion, making it the largest expiration event so far this year, according to Deribit. Bitcoin Options Expiry The put/call ratio for today’s huge tranche is 0.85, meaning there are slightly more long contracts being sold than shorts. There are more than a billion dollars in open interest (OI) at the $65,000 and $70,000 strike prices, with the latter being closer than current spot prices. Bulls appear to be dominating the derivatives markets with almost a billion dollars in OI at much higher strike prices, including $75,000 and even $100,000. OI refers to the number or value of contracts that are still open and have yet to be settled. Bitcoin OI by expiry. Source: Deribit Crypto derivatives tooling provider Greeks Live reported the total value of crypto options for today’s expiry event. With the big quarterly delivery and $15 billion of crypto options pending, “market participants are ramping up to move their positions, with BTC calls continuing to be the absolute workhorse of the move,” it stated. It also noted that the $70,000 strike price “is very hotly contested,” with the call currently holding the second-largest options contract. Deribit reports it as being slightly larger than the $65,000 strike price for calls. With the big quarterly delivery and $15bn of options pending, market participants are ramping up to move their positions, with BTC calls continuing to be the absolute workhorse of the move. Today’s Block trades were dominated by 6-8Bps sfm, with dozens of Bps sfm not uncommon, a… pic.twitter.com/BOr0kvTCYF — Greeks.live (@GreeksLive) March 28, 2024 In addition to the massive batch of Bitcoin contracts, around 1.58 million Ethereum options contracts will also expire on March 29. These have a notional value of around $5.67 billion and a put/call ratio of 0.63, which means more calls than puts expiring today. Strike prices at $4,000 and $3,000 have a lot of OI, with the former being the greater notional value, which is around $700 million. Crypto Market Impact Spot markets are not usually impacted by derivatives expiration, but today’s event is a large one, so there could be some additional volatility. Total capitalization is up 2% on the day, reaching $2.77 trillion during the Asian trading session on Friday morning. Bitcoin has been hovering at resistance of just over $70,000 for the best part of the past 24 hours, where it remains. Ethereum prices were trading around the $3,500 area, where they have been for the past 18 hours. The post A Whopping $15B in Crypto Options Are About to Expire, Will Markets React?  appeared first on CryptoPotato.

A Whopping $15B in Crypto Options Are About to Expire, Will Markets React? 

March 29 is an end-of-quarter Bitcoin options expiry event, and it is a big one. There are approximately 135,250 BTC options contracts expiring today.

The notional value of today’s big batch of Bitcoin derivatives is a whopping $9.74 billion, making it the largest expiration event so far this year, according to Deribit.

Bitcoin Options Expiry

The put/call ratio for today’s huge tranche is 0.85, meaning there are slightly more long contracts being sold than shorts. There are more than a billion dollars in open interest (OI) at the $65,000 and $70,000 strike prices, with the latter being closer than current spot prices.

Bulls appear to be dominating the derivatives markets with almost a billion dollars in OI at much higher strike prices, including $75,000 and even $100,000.

OI refers to the number or value of contracts that are still open and have yet to be settled.

Bitcoin OI by expiry. Source: Deribit

Crypto derivatives tooling provider Greeks Live reported the total value of crypto options for today’s expiry event.

With the big quarterly delivery and $15 billion of crypto options pending, “market participants are ramping up to move their positions, with BTC calls continuing to be the absolute workhorse of the move,” it stated.

It also noted that the $70,000 strike price “is very hotly contested,” with the call currently holding the second-largest options contract. Deribit reports it as being slightly larger than the $65,000 strike price for calls.

With the big quarterly delivery and $15bn of options pending, market participants are ramping up to move their positions, with BTC calls continuing to be the absolute workhorse of the move. Today’s Block trades were dominated by 6-8Bps sfm, with dozens of Bps sfm not uncommon, a… pic.twitter.com/BOr0kvTCYF

— Greeks.live (@GreeksLive) March 28, 2024

In addition to the massive batch of Bitcoin contracts, around 1.58 million Ethereum options contracts will also expire on March 29. These have a notional value of around $5.67 billion and a put/call ratio of 0.63, which means more calls than puts expiring today.

Strike prices at $4,000 and $3,000 have a lot of OI, with the former being the greater notional value, which is around $700 million.

Crypto Market Impact

Spot markets are not usually impacted by derivatives expiration, but today’s event is a large one, so there could be some additional volatility.

Total capitalization is up 2% on the day, reaching $2.77 trillion during the Asian trading session on Friday morning.

Bitcoin has been hovering at resistance of just over $70,000 for the best part of the past 24 hours, where it remains.

Ethereum prices were trading around the $3,500 area, where they have been for the past 18 hours.

The post A Whopping $15B in Crypto Options Are About to Expire, Will Markets React?  appeared first on CryptoPotato.
Solana (SOL) Price Prediction: Is $300 Possible After the Bitcoin Halving? (Analyst)The host of Coin Bureau, Guy Turner, tells his two million followers on YouTube that SOL might be on a potential 35% – 45% breakout above the $300 mark. Turner’s bullish outlook is based on promising weekly and monthly charts throughout the beginning of 2024. According to him, SOL is looking “incredibly bullish” on both timeframes, facing stiff resistance at the $300 mark. Can SOL Reach $300 After the Bitcoin Halving? The analyst paired SOL against Bitcoin to showcase an even more bullish chart, given that BTC pairs demonstrate an altcoin’s strength. Moreover, Turner highlighted that the Bitcoin halving is nearing, and the market expects that this event will catapult BTC to new heights. “Given that Bitcoin’s halving is just around the corner, it’s likely that BTC’s price will rally. That means a 35 to 45% gain in SOL versus BTC would bring it above the $300 milestone.” Turner emphasized that SOL’s price will be heavily influenced by the development of four upcoming milestones, as per the Solana Foundation’s updated roadmap. These milestones include the release of token extensions, the launch of new validator clients like Firedancer, more institutional support, and developer engagement. Solana TVL Reaches New ATH Solana has surpassed $4.6 in total value locked across its diverse ecosystem of decentralized applications (dApps), according to data from DefiLlama. The surge comes amid a new inflow of users partially driven by the meme coin mania, of which several Solana-based such tokens have experienced substantial gains through the week. As CryptoPotato reported, another important reason for Solana’s price and TVL increase can be attributed to the overall bullish sentiment coming from retailers and institutional investors alike. The post Solana (SOL) Price Prediction: Is $300 Possible After the Bitcoin Halving? (Analyst) appeared first on CryptoPotato.

Solana (SOL) Price Prediction: Is $300 Possible After the Bitcoin Halving? (Analyst)

The host of Coin Bureau, Guy Turner, tells his two million followers on YouTube that SOL might be on a potential 35% – 45% breakout above the $300 mark.

Turner’s bullish outlook is based on promising weekly and monthly charts throughout the beginning of 2024. According to him, SOL is looking “incredibly bullish” on both timeframes, facing stiff resistance at the $300 mark.

Can SOL Reach $300 After the Bitcoin Halving?

The analyst paired SOL against Bitcoin to showcase an even more bullish chart, given that BTC pairs demonstrate an altcoin’s strength.

Moreover, Turner highlighted that the Bitcoin halving is nearing, and the market expects that this event will catapult BTC to new heights.

“Given that Bitcoin’s halving is just around the corner, it’s likely that BTC’s price will rally. That means a 35 to 45% gain in SOL versus BTC would bring it above the $300 milestone.”

Turner emphasized that SOL’s price will be heavily influenced by the development of four upcoming milestones, as per the Solana Foundation’s updated roadmap. These milestones include the release of token extensions, the launch of new validator clients like Firedancer, more institutional support, and developer engagement.

Solana TVL Reaches New ATH

Solana has surpassed $4.6 in total value locked across its diverse ecosystem of decentralized applications (dApps), according to data from DefiLlama.

The surge comes amid a new inflow of users partially driven by the meme coin mania, of which several Solana-based such tokens have experienced substantial gains through the week.

As CryptoPotato reported, another important reason for Solana’s price and TVL increase can be attributed to the overall bullish sentiment coming from retailers and institutional investors alike.

The post Solana (SOL) Price Prediction: Is $300 Possible After the Bitcoin Halving? (Analyst) appeared first on CryptoPotato.
British Columbia Courts Target Quadriga CX Exec’s Wealth OriginsThe province of British Columbia is taking proactive steps in its battle against financial crime, with the latest move targeting Michael Patry, the co-founder of the defunct Canadian largest crypto exchange, Quadriga CX. Mike Farnworth, Minister of Public Safety and Solicitor General, announced the filing of a third unexplained wealth order (UWO) with the British Columbia Supreme Court, aimed at seizing assets potentially linked to criminal activity. If successful, the order could lead to the forfeiture of assets worth $250,200 in cash, 45 gold bars, luxury watches, and expensive jewelry, Farnworth said in the press release dated March 27. Farnworth also emphasized that the focus isn’t just on flashy assets like gold bars and luxury goods; it’s about disrupting the financial incentives of criminal enterprises. By targeting ill-gotten gains, authorities aim to strip criminals of their resources and prevent further harm to victims. “We will continue to take the assets from unlawful activity and redirect the proceeds of crime to much-needed victim services programs and crime prevention initiatives, such as the anti-hate grants to communities announced on Feb. 15, 2024.” Quadriga CX, once considered Canada’s largest cryptocurrency exchange, experienced a collapse in 2019. The platform shut down its operations and subsequently declared bankruptcy. The CEO and founder of the company, Gerald William Cotten, mysteriously passed away in 2018 during a trip to India. Following his demise, it was discovered that he owed around $190 million in crypto to 115,000 customers that either went missing or remained inaccessible, as Cotten was the sole holder of the passwords to offline cold wallets. In March 2022, Netflix released a documentary named “Trust No One: The Hunt for the Crypto King.” The post British Columbia Courts Target Quadriga CX Exec’s Wealth Origins appeared first on CryptoPotato.

British Columbia Courts Target Quadriga CX Exec’s Wealth Origins

The province of British Columbia is taking proactive steps in its battle against financial crime, with the latest move targeting Michael Patry, the co-founder of the defunct Canadian largest crypto exchange, Quadriga CX.

Mike Farnworth, Minister of Public Safety and Solicitor General, announced the filing of a third unexplained wealth order (UWO) with the British Columbia Supreme Court, aimed at seizing assets potentially linked to criminal activity.

If successful, the order could lead to the forfeiture of assets worth $250,200 in cash, 45 gold bars, luxury watches, and expensive jewelry, Farnworth said in the press release dated March 27.

Farnworth also emphasized that the focus isn’t just on flashy assets like gold bars and luxury goods; it’s about disrupting the financial incentives of criminal enterprises.

By targeting ill-gotten gains, authorities aim to strip criminals of their resources and prevent further harm to victims.

“We will continue to take the assets from unlawful activity and redirect the proceeds of crime to much-needed victim services programs and crime prevention initiatives, such as the anti-hate grants to communities announced on Feb. 15, 2024.”

Quadriga CX, once considered Canada’s largest cryptocurrency exchange, experienced a collapse in 2019. The platform shut down its operations and subsequently declared bankruptcy.

The CEO and founder of the company, Gerald William Cotten, mysteriously passed away in 2018 during a trip to India.

Following his demise, it was discovered that he owed around $190 million in crypto to 115,000 customers that either went missing or remained inaccessible, as Cotten was the sole holder of the passwords to offline cold wallets.

In March 2022, Netflix released a documentary named “Trust No One: The Hunt for the Crypto King.”

The post British Columbia Courts Target Quadriga CX Exec’s Wealth Origins appeared first on CryptoPotato.
USDT Transaction Volume Soars on TRON DAO, Hits 2 Million DailyThere has been a remarkable surge in USDT transactions within the TRON ecosystem via TronDAO, showing a substantial increase since early February, now averaging over two million transactions daily. According to the latest data compiled by IntotheBlock, the surge brings the transaction volume close to the peak observed in January 2023. USDT Transaction Volume Soars on TRON DAO For the uninitiated, TRON DAO is a decentralized autonomous organization connected to a blockchain ecosystem. USDT, complying with the TRC-20 token standard on TRON, allows transfers using various non-custodial wallets like TronLink, Trust Wallet, and MetaMask. TRON’s popularity for stablecoin transfers, particularly with USDT TRC-20 tokens, stems from its scalability advantage over Ethereum, resulting in comparatively lower on-chain fees. With its higher throughput capacity, the TRON network supports intensive projects without the significant “gas” requirements associated with Ethereum, making it an increasingly favored platform for such transactions. USDT transactions on @trondao have been on a notable upswing since early February, now averaging over 2 million transactions daily. With this increase, the number of transactions is approaching the peak witnessed in January 2023. pic.twitter.com/BErBb17I04 — IntoTheBlock (@intotheblock) March 27, 2024 However, Tether, being a controversial entity in the eyes of several law enforcement agencies, has also brought its stablecoin, USDT, under scrutiny. Recent reports, including a United Nations study earlier this year, suggest a rising trend of money laundering and fraudulent activities in Southeast Asia utilizing USDT for payments and fund transfers, particularly via its TRC-20 protocol. However, Justin Sun and TRON DAO have refuted these allegations, with the latter stating active collaboration with on-chain forensic partners to share transaction-related information and dismiss such claims. USDT Expansion Despite the intense scrutiny and backlash, USDT has grown significantly in tandem with market recovery. The stablecoin broke above a milestone of $100 billion market cap earlier this month. In terms of expansion, Tether recently announced the launch of USDT on the Celo blockchain, making it the 15 network to accommodate the leading stablecoin, after Ethereum, TRON, Polygon, Avalanche, and Algorand, among others. Meanwhile, Tether has intensified its efforts to focus on artificial intelligence (AI) this year. Key areas of focus include the development of open-source, multimodal AI products to establish new industry benchmarks. Additionally, the crypto firm intends to collaborate with various entities to integrate AI solutions into market-oriented products, addressing real-world challenges. The post USDT Transaction Volume Soars on TRON DAO, Hits 2 Million Daily appeared first on CryptoPotato.

USDT Transaction Volume Soars on TRON DAO, Hits 2 Million Daily

There has been a remarkable surge in USDT transactions within the TRON ecosystem via TronDAO, showing a substantial increase since early February, now averaging over two million transactions daily.

According to the latest data compiled by IntotheBlock, the surge brings the transaction volume close to the peak observed in January 2023.

USDT Transaction Volume Soars on TRON DAO

For the uninitiated, TRON DAO is a decentralized autonomous organization connected to a blockchain ecosystem. USDT, complying with the TRC-20 token standard on TRON, allows transfers using various non-custodial wallets like TronLink, Trust Wallet, and MetaMask.

TRON’s popularity for stablecoin transfers, particularly with USDT TRC-20 tokens, stems from its scalability advantage over Ethereum, resulting in comparatively lower on-chain fees.

With its higher throughput capacity, the TRON network supports intensive projects without the significant “gas” requirements associated with Ethereum, making it an increasingly favored platform for such transactions.

USDT transactions on @trondao have been on a notable upswing since early February, now averaging over 2 million transactions daily. With this increase, the number of transactions is approaching the peak witnessed in January 2023. pic.twitter.com/BErBb17I04

— IntoTheBlock (@intotheblock) March 27, 2024

However, Tether, being a controversial entity in the eyes of several law enforcement agencies, has also brought its stablecoin, USDT, under scrutiny.

Recent reports, including a United Nations study earlier this year, suggest a rising trend of money laundering and fraudulent activities in Southeast Asia utilizing USDT for payments and fund transfers, particularly via its TRC-20 protocol.

However, Justin Sun and TRON DAO have refuted these allegations, with the latter stating active collaboration with on-chain forensic partners to share transaction-related information and dismiss such claims.

USDT Expansion

Despite the intense scrutiny and backlash, USDT has grown significantly in tandem with market recovery. The stablecoin broke above a milestone of $100 billion market cap earlier this month.

In terms of expansion, Tether recently announced the launch of USDT on the Celo blockchain, making it the 15 network to accommodate the leading stablecoin, after Ethereum, TRON, Polygon, Avalanche, and Algorand, among others.

Meanwhile, Tether has intensified its efforts to focus on artificial intelligence (AI) this year. Key areas of focus include the development of open-source, multimodal AI products to establish new industry benchmarks. Additionally, the crypto firm intends to collaborate with various entities to integrate AI solutions into market-oriented products, addressing real-world challenges.

The post USDT Transaction Volume Soars on TRON DAO, Hits 2 Million Daily appeared first on CryptoPotato.
Ethereum Hits 1 Million Validators Prompting Community ConcernsThe Ethereum network has reached a noteworthy milestone by attaining one million validators. Based on data from the Dune Analytics dashboard developed by Hildobby, the quantity of ETH staked has risen to 32 million, with an approximate value of $114 billion at current market rates. This figure accounts for 26% of the total Ethereum supply. Ethereum’s New Milestone The data also reveals that around 30% of the staked ETH is attributed to Lido, a liquid staking platform designed for PoS cryptocurrencies. Staking pools like Lido have become immensely popular among users, enabling individuals with smaller amounts of ETH to pool their assets and participate in the staking process. Over 1 million Ethereum validators pic.twitter.com/5Rlc6uB8EC — Evan Van Ness (@evan_van_ness) March 27, 2024 Validators play an important role in maintaining the security and integrity of the Ethereum blockchain. They monitor the network for suspicious or malicious activities, such as attempts to double-spend ETH. Participation in Ethereum’s proposal and validation process requires validators to stake a minimum of 32 ETH. In return, they are rewarded with a portion of ETH as an incentive. By participating in the proposal and validation of transactions within the network, validators contribute to the overall consensus mechanism of Ethereum. Concerns Rise as Validator Numbers Surge While the increasing number of validators signals enhanced security for Ethereum, some within the community have raised concerns about potential downsides. Venture investor Evan Van Ness expressed concern over the saturation of staking, suggesting there might already be an excess of staked ETH. Similarly, Gabriel Weide warned about the increased likelihood of failed transactions and operational challenges that come with a high number of validators. Peter Kim, head of engineering at Coinbase Wallet, acknowledged the growth in the number of validators but pointed out that the current count might be inflated due to the 32 ETH staking requirement. However, he hinted at potential adjustments to this requirement in the future. Responding to concerns about network centralization, Ethereum co-founder Vitalik Buterin proposed a solution to enhance decentralization. In a recent blog post, he suggested penalizing validators in proportion to their average failure rate, aiming to mitigate the advantage of larger ETH stakers over smaller ones. He theorized that individual validators with large holdings could potentially influence multiple identities, increasing the impact of any mistakes made. Buterin also highlighted the risk of correlated failures within validator clusters, such as staking pools, which share infrastructure and are more susceptible to synchronized disruptions. The post Ethereum Hits 1 Million Validators Prompting Community Concerns appeared first on CryptoPotato.

Ethereum Hits 1 Million Validators Prompting Community Concerns

The Ethereum network has reached a noteworthy milestone by attaining one million validators.

Based on data from the Dune Analytics dashboard developed by Hildobby, the quantity of ETH staked has risen to 32 million, with an approximate value of $114 billion at current market rates. This figure accounts for 26% of the total Ethereum supply.

Ethereum’s New Milestone

The data also reveals that around 30% of the staked ETH is attributed to Lido, a liquid staking platform designed for PoS cryptocurrencies.

Staking pools like Lido have become immensely popular among users, enabling individuals with smaller amounts of ETH to pool their assets and participate in the staking process.

Over 1 million Ethereum validators

pic.twitter.com/5Rlc6uB8EC

— Evan Van Ness (@evan_van_ness) March 27, 2024

Validators play an important role in maintaining the security and integrity of the Ethereum blockchain. They monitor the network for suspicious or malicious activities, such as attempts to double-spend ETH.

Participation in Ethereum’s proposal and validation process requires validators to stake a minimum of 32 ETH. In return, they are rewarded with a portion of ETH as an incentive. By participating in the proposal and validation of transactions within the network, validators contribute to the overall consensus mechanism of Ethereum.

Concerns Rise as Validator Numbers Surge

While the increasing number of validators signals enhanced security for Ethereum, some within the community have raised concerns about potential downsides.

Venture investor Evan Van Ness expressed concern over the saturation of staking, suggesting there might already be an excess of staked ETH. Similarly, Gabriel Weide warned about the increased likelihood of failed transactions and operational challenges that come with a high number of validators.

Peter Kim, head of engineering at Coinbase Wallet, acknowledged the growth in the number of validators but pointed out that the current count might be inflated due to the 32 ETH staking requirement. However, he hinted at potential adjustments to this requirement in the future.

Responding to concerns about network centralization, Ethereum co-founder Vitalik Buterin proposed a solution to enhance decentralization. In a recent blog post, he suggested penalizing validators in proportion to their average failure rate, aiming to mitigate the advantage of larger ETH stakers over smaller ones.

He theorized that individual validators with large holdings could potentially influence multiple identities, increasing the impact of any mistakes made. Buterin also highlighted the risk of correlated failures within validator clusters, such as staking pools, which share infrastructure and are more susceptible to synchronized disruptions.

The post Ethereum Hits 1 Million Validators Prompting Community Concerns appeared first on CryptoPotato.
Ripple (XRP) Bashed By Forbes: Cardano’s Charles Hoskinson RespondsTL;DR Forbes labeled Ripple’s blockchain as ineffective and its token as purely speculative, questioning its utility and market value. Charles Hoskinson and crypto supporters defended Ripple, making jokes with the media company’s report. Forbes Takes Aim at Ripple (XRP) The global media company Forbes recently published a report called “The Rise of Crypto’s Billion Dollar Zombies,” which touched upon numerous cryptocurrency protocols. It paid special attention to Ripple (the company behind the XRP token) and provided detailed information about its early days. “To fund their ambitious project, executives at the company created 100 billion XRP tokens and sold $1.4 billion worth to the public. In early 2018, at the height of the first wave of crypto euphoria, XRP was trading with a market value of $132 billion, giving cofounder and executive chairman Chris Larsen a net worth of $8 billion.” However, Forbes claimed that Ripple failed to meet its goal to improve the global financial network in the following years. The media company went even further, calling Ripple’s blockchain “useless.”  “In terms of global money flows, not much is going on at Ripple Labs today, and few expect it ever to disrupt the Belgian banking cooperative known as SWIFT, which facilitates $5 trillion in interbank transfers every day. It’s largely useless, but the XRP token still sports a market value of $36 billion, making it the sixth-most valuable cryptocurrency,” the report reads. Forbes’ bashing manifest did not stop here, describing Ripple and numerous other blockchains as “crypto zombies.” It also argued that the company’s native token – XRP – has “no purpose other than speculation.” Hoskinson’s Reaction One person who opposed Forbes’ report is Cardano’s founder, Charles Hoskinson. He jokingly mentioned that all cryptocurrency protocols mentioned by the media (most importantly Ripple, Algorand, Tezos, Bitcoin Cash, and Stellar) are “zombies,” but “it’s because we got all the brain.” Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes. I guess it’s because we got all the ! pic.twitter.com/nwKbf7R4Pb — Charles Hoskinson (@IOHK_Charles) March 27, 2024 Numerous X users agreed with Hoskinson’s stance, calling Forbes’ report “a joke of an article.” It is worth noting that the media company has not always been that hostile toward the cryptocurrency industry. Earlier this month, it presented a list of the top 10 digital assets people should focus their attention on, with XRP being one of those.   The post Ripple (XRP) Bashed by Forbes: Cardano’s Charles Hoskinson Responds appeared first on CryptoPotato.

Ripple (XRP) Bashed By Forbes: Cardano’s Charles Hoskinson Responds

TL;DR

Forbes labeled Ripple’s blockchain as ineffective and its token as purely speculative, questioning its utility and market value.

Charles Hoskinson and crypto supporters defended Ripple, making jokes with the media company’s report.

Forbes Takes Aim at Ripple (XRP)

The global media company Forbes recently published a report called “The Rise of Crypto’s Billion Dollar Zombies,” which touched upon numerous cryptocurrency protocols. It paid special attention to Ripple (the company behind the XRP token) and provided detailed information about its early days.

“To fund their ambitious project, executives at the company created 100 billion XRP tokens and sold $1.4 billion worth to the public. In early 2018, at the height of the first wave of crypto euphoria, XRP was trading with a market value of $132 billion, giving cofounder and executive chairman Chris Larsen a net worth of $8 billion.”

However, Forbes claimed that Ripple failed to meet its goal to improve the global financial network in the following years. The media company went even further, calling Ripple’s blockchain “useless.” 

“In terms of global money flows, not much is going on at Ripple Labs today, and few expect it ever to disrupt the Belgian banking cooperative known as SWIFT, which facilitates $5 trillion in interbank transfers every day. It’s largely useless, but the XRP token still sports a market value of $36 billion, making it the sixth-most valuable cryptocurrency,” the report reads.

Forbes’ bashing manifest did not stop here, describing Ripple and numerous other blockchains as “crypto zombies.” It also argued that the company’s native token – XRP – has “no purpose other than speculation.”

Hoskinson’s Reaction

One person who opposed Forbes’ report is Cardano’s founder, Charles Hoskinson. He jokingly mentioned that all cryptocurrency protocols mentioned by the media (most importantly Ripple, Algorand, Tezos, Bitcoin Cash, and Stellar) are “zombies,” but “it’s because we got all the brain.”

Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes.

I guess it’s because we got all the ! pic.twitter.com/nwKbf7R4Pb

— Charles Hoskinson (@IOHK_Charles) March 27, 2024

Numerous X users agreed with Hoskinson’s stance, calling Forbes’ report “a joke of an article.” It is worth noting that the media company has not always been that hostile toward the cryptocurrency industry. Earlier this month, it presented a list of the top 10 digital assets people should focus their attention on, with XRP being one of those.

 

The post Ripple (XRP) Bashed by Forbes: Cardano’s Charles Hoskinson Responds appeared first on CryptoPotato.
Here’s Why Bitcoin ETF Flows Will Continue for Years, According to Bitwise CIOMatt Hougan, the CIO of the crypto index fund and asset management firm Bitwise, believes inflows into spot Bitcoin exchange-traded funds (ETFs) will continue for years as more investors and institutions adopt the products. In a tweet detailing his experiences during a 20-day road trip, Hougan said he met financial advisors who have already allocated 3% of their client’s portfolios to Bitcoin ETFs and those who have not nursed the thoughts at all, showing a gap in the adoption pace of the products. Bitcoin ETF Inflows Are Long-Term Hougan also engaged with national account platforms approving Bitcoin ETF investments later this month and others looking to do so in mid-2025. He said his discoveries indicated that the inflows the ETF market has experienced in the past two months are not a one-time thing but part of long-term sustained demand. “After my time on the road, I’m convinced that the latter is the case. That’s because there is a massive dispersion in the pace of adoption of bitcoin ETFs,” Hougan stated. The Bitwise CIO insisted that the situation of most professional investors, who are currently unable to buy Bitcoin ETFs, would change in the next couple of years as they conduct a series of individual due diligence processes. In addition, Hougan said the ramp-up of inflows into Bitcoin ETFs would be shorter than gold ETFs, which saw inflows built over their first seven years in the market. Market analysts think the former could surpass the latter within months if high inflows persist. 3%, The New 1%? Interestingly, Hougan claimed that 3% is the new 1% in Bitcoin investment allocation. He explained that in his six years of speaking with professional investors about Bitcoin, the talks revolved around a 1% allocation. However, that has changed, as almost every wealth market investor he met on his road trip mentioned a 3% allocation as the ideal standard. “The primary reason imho is that the launch of ETFs has de-risked the downside of bitcoin. Before, people were worried bitcoin could go to zero. In that world, a 1% allocation is all you can stomach. But if “going to zero” is off the table, 3% or 5% starts to make more sense,” Hougan added. Meanwhile, Hougan discovered that the demand for Bitcoin ETFs from U.K. investors is far behind the surge in the U.S. The post Here’s Why Bitcoin ETF Flows Will Continue for Years, According to Bitwise CIO appeared first on CryptoPotato.

Here’s Why Bitcoin ETF Flows Will Continue for Years, According to Bitwise CIO

Matt Hougan, the CIO of the crypto index fund and asset management firm Bitwise, believes inflows into spot Bitcoin exchange-traded funds (ETFs) will continue for years as more investors and institutions adopt the products.

In a tweet detailing his experiences during a 20-day road trip, Hougan said he met financial advisors who have already allocated 3% of their client’s portfolios to Bitcoin ETFs and those who have not nursed the thoughts at all, showing a gap in the adoption pace of the products.

Bitcoin ETF Inflows Are Long-Term

Hougan also engaged with national account platforms approving Bitcoin ETF investments later this month and others looking to do so in mid-2025. He said his discoveries indicated that the inflows the ETF market has experienced in the past two months are not a one-time thing but part of long-term sustained demand.

“After my time on the road, I’m convinced that the latter is the case. That’s because there is a massive dispersion in the pace of adoption of bitcoin ETFs,” Hougan stated.

The Bitwise CIO insisted that the situation of most professional investors, who are currently unable to buy Bitcoin ETFs, would change in the next couple of years as they conduct a series of individual due diligence processes.

In addition, Hougan said the ramp-up of inflows into Bitcoin ETFs would be shorter than gold ETFs, which saw inflows built over their first seven years in the market. Market analysts think the former could surpass the latter within months if high inflows persist.

3%, The New 1%?

Interestingly, Hougan claimed that 3% is the new 1% in Bitcoin investment allocation. He explained that in his six years of speaking with professional investors about Bitcoin, the talks revolved around a 1% allocation. However, that has changed, as almost every wealth market investor he met on his road trip mentioned a 3% allocation as the ideal standard.

“The primary reason imho is that the launch of ETFs has de-risked the downside of bitcoin. Before, people were worried bitcoin could go to zero. In that world, a 1% allocation is all you can stomach. But if “going to zero” is off the table, 3% or 5% starts to make more sense,” Hougan added.

Meanwhile, Hougan discovered that the demand for Bitcoin ETFs from U.K. investors is far behind the surge in the U.S.

The post Here’s Why Bitcoin ETF Flows Will Continue for Years, According to Bitwise CIO appeared first on CryptoPotato.
Vitalik Explains Ethereum’s Next Steps After Dencun UpgradeBlobs have officially come to Ethereum through its latest “Dencun” hard fork, making it far cheaper to transact on the network’s layer 2 (L2) blockchains. So what’s next? In a blog post published on Thursday, Ethereum co-founder Vitalik Buterin outlined how he expects Ethereum to scale for mass adoption, emphasizing a shift in developmental focus to L2s. Vitalik’s View On Ethereum Layer 2s According to Vitalik, the newly implemented EIP 4844 (aka “blobs”) marked a “zero to one” milestone for Ethereum scaling, after which all remaining scaling improvements will be “incremental” by comparison. The upgrade creates dedicated data availability space – or “blobspace” – on Ethereum’s base layer where layer 2 networks can post batched transactions for a much lower cost than previously allowed. Networks poised to benefit from the upgrade include Polygon, Arbitrum, and Optimism, among others With blobs in effect, one of Ethereum’s next goals may be to implement “data availability sampling,” a more efficient method for verifying blobs that could help greatly increase the network’s blobspace. These could allow blobs to process roughly 1.33 megabytes of data per second. “From here on, data availability sampling can be introduced and blob count can be increased behind the scenes, all without any involvement from users or applications,” wrote Vitalik. The next scaling goals, he claimed, will be to increase blob capacity and improve on existing L2s, both of which carry minimal need for a hard fork. To improve L2s, the developer recommends reducing transaction sizes using data compression, using L1s for security more sparingly, and scaling rollups internally. He also pushed for a true shift towards decentralization with L2s whose code can only be modified by security councils under rare circumstances. Ethereum’s Next Ten Years With blobs released and rising adoption of L2s underway, Vitalik stressed that developers must begin developing protocols that meet the standards of the current decade – not the last. “We no longer have any excuse,” he wrote. “Today, we have all the tools we’ll need, and indeed most of the tools we’ll ever have, to build applications that are simultaneously cypherpunk and user-friendly. And so we should go out and do it.” Vitalik is still a proponent of developing more advanced features on Ethereum’s base layer, enabling more simplicity and reducing bug risk on layer 2 networks. In recent weeks, Vitalik has proposed multiple ways to help decentralize Ethereum staking away from large staking providers. These include creating new, more accessible tiers of staking through “rainbow staking,” and imposing harsher financial penalties on staking whales. The post Vitalik Explains Ethereum’s Next Steps After Dencun Upgrade appeared first on CryptoPotato.

Vitalik Explains Ethereum’s Next Steps After Dencun Upgrade

Blobs have officially come to Ethereum through its latest “Dencun” hard fork, making it far cheaper to transact on the network’s layer 2 (L2) blockchains. So what’s next?

In a blog post published on Thursday, Ethereum co-founder Vitalik Buterin outlined how he expects Ethereum to scale for mass adoption, emphasizing a shift in developmental focus to L2s.

Vitalik’s View On Ethereum Layer 2s

According to Vitalik, the newly implemented EIP 4844 (aka “blobs”) marked a “zero to one” milestone for Ethereum scaling, after which all remaining scaling improvements will be “incremental” by comparison.

The upgrade creates dedicated data availability space – or “blobspace” – on Ethereum’s base layer where layer 2 networks can post batched transactions for a much lower cost than previously allowed. Networks poised to benefit from the upgrade include Polygon, Arbitrum, and Optimism, among others

With blobs in effect, one of Ethereum’s next goals may be to implement “data availability sampling,” a more efficient method for verifying blobs that could help greatly increase the network’s blobspace. These could allow blobs to process roughly 1.33 megabytes of data per second.

“From here on, data availability sampling can be introduced and blob count can be increased behind the scenes, all without any involvement from users or applications,” wrote Vitalik.

The next scaling goals, he claimed, will be to increase blob capacity and improve on existing L2s, both of which carry minimal need for a hard fork.

To improve L2s, the developer recommends reducing transaction sizes using data compression, using L1s for security more sparingly, and scaling rollups internally. He also pushed for a true shift towards decentralization with L2s whose code can only be modified by security councils under rare circumstances.

Ethereum’s Next Ten Years

With blobs released and rising adoption of L2s underway, Vitalik stressed that developers must begin developing protocols that meet the standards of the current decade – not the last.

“We no longer have any excuse,” he wrote. “Today, we have all the tools we’ll need, and indeed most of the tools we’ll ever have, to build applications that are simultaneously cypherpunk and user-friendly. And so we should go out and do it.”

Vitalik is still a proponent of developing more advanced features on Ethereum’s base layer, enabling more simplicity and reducing bug risk on layer 2 networks.

In recent weeks, Vitalik has proposed multiple ways to help decentralize Ethereum staking away from large staking providers. These include creating new, more accessible tiers of staking through “rainbow staking,” and imposing harsher financial penalties on staking whales.

The post Vitalik Explains Ethereum’s Next Steps After Dencun Upgrade appeared first on CryptoPotato.
Shiba Inu (SHIB) Team With Crucial Warning to Its CommunityTL;DR Shibarium’s LUCIE issued a warning to the Shiba Inu community about fraud, advising caution with suspicious links offering unexpected rewards. Despite potential scams, SHIB’s value increased by 18% weekly amid effective token burns and Shibarium’s advancements. Shibarium’s Marketing Strategist, using the X handle LUCIE, advised the Shiba Inu community to be utterly careful when clicking suspicious links from prominent individuals or entities “announcing unexpected rewards.” The SHIB official alerted that those links most probably come from hacked accounts, saying people should refrain from connecting their wallets to dubious websites. Last month, LUCIE warned the community to beware of potential scams related to SHEboshi NFTs. The digital art was a huge success with all 20,000 collectibles sold out in less than three hours after the conclusion of the second phase of the minting process. Shiba Inu is among the most trending cryptocurrencies due to its volatile price and huge number of holders, which might explain why scammers frequently target the community. Currently, SHIB trades at approximately $0.0000321, an 18% increase on a weekly scale. Its rise could be attributed to the successful execution of the burning mechanism and the advancement of the layer-2 blockchain solution Shibarium. As CryptoPotato reported today, the burn rate skyrocketed by 1,200%, resulting in over 50 million tokens destroyed. For its part, Shibarium blasted through another huge milestone at the start of March, surpassing 400 million in terms of total transactions. Those willing to learn more about the layer-2 scaling solution and how it aims to elevate Shiba Inu above its rivals, please take a look at our dedicated video below: The post Shiba Inu (SHIB) Team With Crucial Warning to Its Community appeared first on CryptoPotato.

Shiba Inu (SHIB) Team With Crucial Warning to Its Community

TL;DR

Shibarium’s LUCIE issued a warning to the Shiba Inu community about fraud, advising caution with suspicious links offering unexpected rewards.

Despite potential scams, SHIB’s value increased by 18% weekly amid effective token burns and Shibarium’s advancements.

Shibarium’s Marketing Strategist, using the X handle LUCIE, advised the Shiba Inu community to be utterly careful when clicking suspicious links from prominent individuals or entities “announcing unexpected rewards.”

The SHIB official alerted that those links most probably come from hacked accounts, saying people should refrain from connecting their wallets to dubious websites.

Last month, LUCIE warned the community to beware of potential scams related to SHEboshi NFTs. The digital art was a huge success with all 20,000 collectibles sold out in less than three hours after the conclusion of the second phase of the minting process.

Shiba Inu is among the most trending cryptocurrencies due to its volatile price and huge number of holders, which might explain why scammers frequently target the community.

Currently, SHIB trades at approximately $0.0000321, an 18% increase on a weekly scale. Its rise could be attributed to the successful execution of the burning mechanism and the advancement of the layer-2 blockchain solution Shibarium.

As CryptoPotato reported today, the burn rate skyrocketed by 1,200%, resulting in over 50 million tokens destroyed. For its part, Shibarium blasted through another huge milestone at the start of March, surpassing 400 million in terms of total transactions.

Those willing to learn more about the layer-2 scaling solution and how it aims to elevate Shiba Inu above its rivals, please take a look at our dedicated video below:

The post Shiba Inu (SHIB) Team With Crucial Warning to Its Community appeared first on CryptoPotato.
Former FTX Chief Sam Bankman-Fried Sentenced to 25 Years in PrisonSam Bankman-Fried a.k.a SBF, the founder and former CEO of defunct crypto exchange FTX, has received a sentence of 300 months or 25 years in total, with 240 months initially and an additional 60 months consecutively. The sentencing hearing unfolded on the 26th story of the federal courthouse in downtown Manhattan, where just months prior, a jury unanimously convicted the former crypto executive on all seven criminal charges. Pre-Sentencing Statements Prior to the sentencing, Judge Lewis. A. Kaplan found Bankman-Fried guilty of perjury during his trial testimony, stating that the disgraced former crypto mogul falsely claimed ignorance of Alameda’s use of FTX customer deposits before 2022. The judge also concluded that Bankman-Fried engaged in witness tampering by communicating with the former FTX general counsel before being remanded into custody. Judge Kaplan rejected the defense’s argument concerning loss, both legally and factually. He dismissed the defense’s assertion that customers and creditors would be fully reimbursed, deeming it misleading as it equated loss solely with the dollar volume in the bankruptcy case. According to updates from Matthew Lee, the founder of a non-profit organization, Inner City Press, Judge Kaplan’s figures, investors lost $1.7 billion to investors, Alameda lenders lost $1.3 billion to Alameda lenders, and FTX customers lost a staggering $8 billion. While addressing the court directly, Bankman-Fried issued an apology but state prosecutor Nicolas Roos presented a contrasting view, asserting that FTX was founded on “pervasive criminality.” Similarly, Judge Kaplan viewed the proceedings as a “performance.” While acknowledging Bankman-Fried’s refusal to admit guilt, the judge recognized his persistence and “marketing” skills and agreed with Roos that Bankman-Fried’s narrative was evident, pointing out his ability to continue promoting his story to the media despite legal proceedings. Post FTX Collapse FTX’s collapse in early November 2022 was triggered after a CoinDesk bombshell report that revealed that its sister trading firm, Alameda Research, heavily relied on speculative crypto tokens for its valuation. Concerns over the dubious financial practice, in addition to the close relationship between FTX and Alameda, led to a surge of customer withdrawals, leading both entities into bankruptcy. This event rattled the already volatile crypto market, causing losses of billions. A month later, the US government filed civil and criminal charges against the former CEO and other top executives for misappropriating over $8 billion in customer deposits, fabricating financial statements, and orchestrating an insolvency. Bankman-Fried was then extradited from The Bahamas to the U.S., tried in October 2023, and convicted in November 2023 on criminal charges, except for one dropped charge in July 2023. The post Former FTX Chief Sam Bankman-Fried Sentenced to 25 Years in Prison appeared first on CryptoPotato.

Former FTX Chief Sam Bankman-Fried Sentenced to 25 Years in Prison

Sam Bankman-Fried a.k.a SBF, the founder and former CEO of defunct crypto exchange FTX, has received a sentence of 300 months or 25 years in total, with 240 months initially and an additional 60 months consecutively.

The sentencing hearing unfolded on the 26th story of the federal courthouse in downtown Manhattan, where just months prior, a jury unanimously convicted the former crypto executive on all seven criminal charges.

Pre-Sentencing Statements

Prior to the sentencing, Judge Lewis. A. Kaplan found Bankman-Fried guilty of perjury during his trial testimony, stating that the disgraced former crypto mogul falsely claimed ignorance of Alameda’s use of FTX customer deposits before 2022.

The judge also concluded that Bankman-Fried engaged in witness tampering by communicating with the former FTX general counsel before being remanded into custody. Judge Kaplan rejected the defense’s argument concerning loss, both legally and factually. He dismissed the defense’s assertion that customers and creditors would be fully reimbursed, deeming it misleading as it equated loss solely with the dollar volume in the bankruptcy case.

According to updates from Matthew Lee, the founder of a non-profit organization, Inner City Press, Judge Kaplan’s figures, investors lost $1.7 billion to investors, Alameda lenders lost $1.3 billion to Alameda lenders, and FTX customers lost a staggering $8 billion.

While addressing the court directly, Bankman-Fried issued an apology but state prosecutor Nicolas Roos presented a contrasting view, asserting that FTX was founded on “pervasive criminality.”

Similarly, Judge Kaplan viewed the proceedings as a “performance.” While acknowledging Bankman-Fried’s refusal to admit guilt, the judge recognized his persistence and “marketing” skills and agreed with Roos that Bankman-Fried’s narrative was evident, pointing out his ability to continue promoting his story to the media despite legal proceedings.

Post FTX Collapse

FTX’s collapse in early November 2022 was triggered after a CoinDesk bombshell report that revealed that its sister trading firm, Alameda Research, heavily relied on speculative crypto tokens for its valuation. Concerns over the dubious financial practice, in addition to the close relationship between FTX and Alameda, led to a surge of customer withdrawals, leading both entities into bankruptcy.

This event rattled the already volatile crypto market, causing losses of billions. A month later, the US government filed civil and criminal charges against the former CEO and other top executives for misappropriating over $8 billion in customer deposits, fabricating financial statements, and orchestrating an insolvency.

Bankman-Fried was then extradited from The Bahamas to the U.S., tried in October 2023, and convicted in November 2023 on criminal charges, except for one dropped charge in July 2023.

The post Former FTX Chief Sam Bankman-Fried Sentenced to 25 Years in Prison appeared first on CryptoPotato.
4 Days Ahead of Halving: Bitcoin Cash Price Soars Alongside BCH Open InterestFour days ahead of the halving of the Bitcoin Cash (BCH) network, the cryptocurrency has recorded significant gains, and open interest in the asset’s derivatives products has more than tripled, placing it on the radar of crypto community members. Data from CoinMarketCap shows BCH has rallied over 15% in 24 hours and 33% in the past week. Bitcoin Cash open interest, per data on CoinGlass, has soared from $213 million recorded last week to $706 million presently, indicating growing bullish sentiment among traders prior to the halving event. Bitcoin Cash Halving in Four Days Bitcoin Cash was created in 2017 as the first hard-forked version of Bitcoin. The network is expected to deliver cost-effective transactions following the enlargement of its blocks to incorporate a larger number. The upcoming halving is Bitcoin Cash’s second, with the first in 2020, and there is a lot of speculation about the event’s effect on its network and token. Halving is a mechanism built into the blockchain code that slashes the reward for mining blocks by 50%. Like Bitcoin, Bitcoin Cash’s halving occurs every four years or after 210,000 blocks, lowering the rate at which BCH is produced and the amount of new supply. With a capped total supply of 21 million, BCH combats inflation through the halving. At the time of writing, the Bitcoin Cash halving is four days and 941 blocks away. By the time the event is over on April 4, block rewards for the network will be reduced from 6.25 BCH to 3.125 BCH. Notably, Bitcoin’s halving is 23 days away. Rising Interest in BCH The surge in Bitcoin Cash open interest indicates an uptick in leveraged bets and expectations of high price volatility before and after the halving. Analysts have predicted that the asset could rally from its current trading level of $568 to $600 by April 1 and $2,000 in the coming months as more capital flows into the ecosystem. Moreover, the largest American crypto exchange, Coinbase, is looking to launch monthly cash-settled and margin futures contracts for BCH on April 1, providing an avenue for inflows into the network. Meanwhile, the upcoming halving has doubled Bitcoin Cash’s hashrate in the past three months, making mining operations for the asset 0.2% to 0.4% more profitable than Bitcoin mining. The post 4 Days Ahead of Halving: Bitcoin Cash Price Soars Alongside BCH Open Interest appeared first on CryptoPotato.

4 Days Ahead of Halving: Bitcoin Cash Price Soars Alongside BCH Open Interest

Four days ahead of the halving of the Bitcoin Cash (BCH) network, the cryptocurrency has recorded significant gains, and open interest in the asset’s derivatives products has more than tripled, placing it on the radar of crypto community members.

Data from CoinMarketCap shows BCH has rallied over 15% in 24 hours and 33% in the past week. Bitcoin Cash open interest, per data on CoinGlass, has soared from $213 million recorded last week to $706 million presently, indicating growing bullish sentiment among traders prior to the halving event.

Bitcoin Cash Halving in Four Days

Bitcoin Cash was created in 2017 as the first hard-forked version of Bitcoin. The network is expected to deliver cost-effective transactions following the enlargement of its blocks to incorporate a larger number.

The upcoming halving is Bitcoin Cash’s second, with the first in 2020, and there is a lot of speculation about the event’s effect on its network and token.

Halving is a mechanism built into the blockchain code that slashes the reward for mining blocks by 50%. Like Bitcoin, Bitcoin Cash’s halving occurs every four years or after 210,000 blocks, lowering the rate at which BCH is produced and the amount of new supply. With a capped total supply of 21 million, BCH combats inflation through the halving.

At the time of writing, the Bitcoin Cash halving is four days and 941 blocks away. By the time the event is over on April 4, block rewards for the network will be reduced from 6.25 BCH to 3.125 BCH. Notably, Bitcoin’s halving is 23 days away.

Rising Interest in BCH

The surge in Bitcoin Cash open interest indicates an uptick in leveraged bets and expectations of high price volatility before and after the halving. Analysts have predicted that the asset could rally from its current trading level of $568 to $600 by April 1 and $2,000 in the coming months as more capital flows into the ecosystem.

Moreover, the largest American crypto exchange, Coinbase, is looking to launch monthly cash-settled and margin futures contracts for BCH on April 1, providing an avenue for inflows into the network.

Meanwhile, the upcoming halving has doubled Bitcoin Cash’s hashrate in the past three months, making mining operations for the asset 0.2% to 0.4% more profitable than Bitcoin mining.

The post 4 Days Ahead of Halving: Bitcoin Cash Price Soars Alongside BCH Open Interest appeared first on CryptoPotato.
Ethereum ‘Blobs’ Unleash Activity Reminiscent of Bitcoin Ordinals’ Early DaysSimilar to the early stages of Bitcoin Ordinals, Ethereum users are creating inscriptions with the help of ‘blobs,’ which were introduced to the network as part of its Dencun upgrade on March 13. This week saw the highest proportion of inscriptions among all blob postings, surpassing usage on Ethereum Layer 2 networks. Ethereum Blobs Spark Flurry of Activity According to data on Dune Analytics by a pseudonymous user ‘Hildobby,’ 2,437 blob inscriptions were recorded on March 27, which, interestingly, accounted for almost 23% of the daily blob postings. This level of activity even eclipsed prominent Ethereum Layer 2 options like Arbitrum, Optimism, Base, and Linea. The concept of blob-carrying transactions was first introduced by EIP-4844. It was a crucial upgrade within Ethereum that aimed to slash transaction expenses, particularly on Layer 2 networks, while at the same time improving scalability via Proto-Danksharding. Similar to Bitcoin Ordinals, where data is associated with the smallest unit of BTC, blobs essentially allow for the inclusion of data in Ethereum transactions. This is done without compromising block processing time and aligns with Ethereum’s ongoing efforts to optimize transaction costs on Layer-2 networks, a goal highlighted by the introduction of EIP-4844. Enter ‘BlobScriptions’ Another breakthrough for the Ethereum ecosystem came in the form of the ‘BlobScriptions,’ which was introduced by the Ethscriptions protocol on March 27. BlobScriptions enable users to directly inscribe different forms of data onto blobs, ranging from JPEGs to text. This approach has sparked a flurry of activity. In fact, BlobScriptions witnessed a surge in popularity within hours of its introduction, driving blob fees to unprecedented levels. Gas fees for blobs skyrocketed above 500 gwei, according to data from ‘ultra sound money,’ which was indicative of increased demand for this new method of data storage. Despite the initial fee surge, BlobScriptions has attracted huge adoption, clocking in over 4,500 inscriptions since its introduction. Users are leveraging this technology to mint small pieces of text and images onto blobs. It is important to note that blob data is stored on Ethereum nodes for approximately 18 days, after which it is removed from the network. However, the Ethscriptions indexer ensures indefinite storage of data in a bid to reduce concerns about data retention. The post Ethereum ‘Blobs’ Unleash Activity Reminiscent of Bitcoin Ordinals’ Early Days appeared first on CryptoPotato.

Ethereum ‘Blobs’ Unleash Activity Reminiscent of Bitcoin Ordinals’ Early Days

Similar to the early stages of Bitcoin Ordinals, Ethereum users are creating inscriptions with the help of ‘blobs,’ which were introduced to the network as part of its Dencun upgrade on March 13.

This week saw the highest proportion of inscriptions among all blob postings, surpassing usage on Ethereum Layer 2 networks.

Ethereum Blobs Spark Flurry of Activity

According to data on Dune Analytics by a pseudonymous user ‘Hildobby,’ 2,437 blob inscriptions were recorded on March 27, which, interestingly, accounted for almost 23% of the daily blob postings. This level of activity even eclipsed prominent Ethereum Layer 2 options like Arbitrum, Optimism, Base, and Linea.

The concept of blob-carrying transactions was first introduced by EIP-4844. It was a crucial upgrade within Ethereum that aimed to slash transaction expenses, particularly on Layer 2 networks, while at the same time improving scalability via Proto-Danksharding.

Similar to Bitcoin Ordinals, where data is associated with the smallest unit of BTC, blobs essentially allow for the inclusion of data in Ethereum transactions. This is done without compromising block processing time and aligns with Ethereum’s ongoing efforts to optimize transaction costs on Layer-2 networks, a goal highlighted by the introduction of EIP-4844.

Enter ‘BlobScriptions’

Another breakthrough for the Ethereum ecosystem came in the form of the ‘BlobScriptions,’ which was introduced by the Ethscriptions protocol on March 27. BlobScriptions enable users to directly inscribe different forms of data onto blobs, ranging from JPEGs to text. This approach has sparked a flurry of activity.

In fact, BlobScriptions witnessed a surge in popularity within hours of its introduction, driving blob fees to unprecedented levels. Gas fees for blobs skyrocketed above 500 gwei, according to data from ‘ultra sound money,’ which was indicative of increased demand for this new method of data storage.

Despite the initial fee surge, BlobScriptions has attracted huge adoption, clocking in over 4,500 inscriptions since its introduction. Users are leveraging this technology to mint small pieces of text and images onto blobs.

It is important to note that blob data is stored on Ethereum nodes for approximately 18 days, after which it is removed from the network. However, the Ethscriptions indexer ensures indefinite storage of data in a bid to reduce concerns about data retention.

The post Ethereum ‘Blobs’ Unleash Activity Reminiscent of Bitcoin Ordinals’ Early Days appeared first on CryptoPotato.
Why Is the Dogecoin (DOGE) Price Up Today?Dogecoin is showing strength and appears determined to make new yearly highs. In the following, we take a look at a few technical indicators that might provide some insights into why DOGE’s price is up today. Key Support levels: $0.13 Key Resistance levels: $0.21, $0.31 1. New Yearly High Imminent Buyers came in strong at the 13 cents support. Since then, the price entered a sustained uptrend that seems ready to test the key resistance at 21 cents. If successful, DOGE will make a new yearly high. That could unleash even more buying pressure. Chart by TradingView 2. Buyers Rush to the Key Resistance Sellers are absent and unable to stop this rally. DOGE took full advantage of this opportunity and appears determined to break the 21 cents resistance. The momentum is also strong and continuation of this price action is likely. Chart by TradingView 3. MACD Bullish Cross Confirmed This week, the daily MACD has crossed on the bullish side. The histogram is making higher highs, and by the looks of it, this rally could only be starting. This is promising and sellers may only appear much later once the price approaches 30 cents if the current resistance falls. Chart by TradingView The post Why is the Dogecoin (DOGE) Price Up Today? appeared first on CryptoPotato.

Why Is the Dogecoin (DOGE) Price Up Today?

Dogecoin is showing strength and appears determined to make new yearly highs. In the following, we take a look at a few technical indicators that might provide some insights into why DOGE’s price is up today.

Key Support levels: $0.13

Key Resistance levels: $0.21, $0.31

1. New Yearly High Imminent

Buyers came in strong at the 13 cents support. Since then, the price entered a sustained uptrend that seems ready to test the key resistance at 21 cents. If successful, DOGE will make a new yearly high. That could unleash even more buying pressure.

Chart by TradingView 2. Buyers Rush to the Key Resistance

Sellers are absent and unable to stop this rally. DOGE took full advantage of this opportunity and appears determined to break the 21 cents resistance. The momentum is also strong and continuation of this price action is likely.

Chart by TradingView 3. MACD Bullish Cross Confirmed

This week, the daily MACD has crossed on the bullish side. The histogram is making higher highs, and by the looks of it, this rally could only be starting. This is promising and sellers may only appear much later once the price approaches 30 cents if the current resistance falls.

Chart by TradingView

The post Why is the Dogecoin (DOGE) Price Up Today? appeared first on CryptoPotato.
BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is the Fastest-Growing ETFIn a recent interview on FOX Business, BlackRock CEO Larry Fink shared his insights on the potential for an Ethereum exchange-traded fund (ETF) amidst regulatory scrutiny. Despite concerns over a possible designation of Ethereum as a security by the U.S. Securities and Exchange Commission (SEC), Fink expressed confidence in the feasibility of launching such an ETF. SEC’s Stance on Ethereum Raises Doubts BlackRock and several other ETF providers have submitted applications for a spot Ethereum ETF to the SEC. However, there are doubts regarding the agency’s approval of these ETFs as the May deadline approaches. When asked about the SEC’s stance on ETH possibly being classified as a security, Fink refrained from providing detailed commentary but remained optimistic. “But I don’t think that designation is going to be too deleterious,” Fink stated, suggesting that such a designation wouldn’t necessarily hinder the creation of spot Ethereum ETFs. It was recently disclosed that the SEC is exploring the classification of Ethereum as a security and has issued subpoenas to three companies for details regarding the Ethereum Foundation, a Swiss nonprofit important to the growth and advancement of the blockchain. This development has raised concerns about the possibility of launching an Ethereum ETF in the United States. On the other hand, analysts in the field are sharing differing opinions. Bloomberg’s ETF experts James Seyffart and Eric Balchunas have voiced doubts, pointing to the SEC’s minimal interaction with filings as worrisome. However, Craig Salm has countered this argument, suggesting that the SEC’s lack of engagement shouldn’t necessarily signal the approval outcome. Fink Bullish on Bitcoin Despite these challenges, Fink remains optimistic about Ethereum’s and Bitcoin’s long-term prospects. BlackRock is not only pursuing an Ethereum ETF but also operates one of the most successful spot Bitcoin funds, the iShares Bitcoin Fund (IBIT), which has amassed over $17 billion in assets under management since its approval in January. BlackRock CEO Larry Fink says the $IBIT Spot #Bitcoin #ETF is the fastest growing ETF in history pic.twitter.com/NOsDlFgROi — Simon Dixon (@SimonDixonTwitt) March 27, 2024 IBIT is the “fastest-growing ETF in the history of ETFs,” Fink stated on Fox Business. He also said he is “very bullish on the long-term viability of Bitcoin. We’re creating now a market that has more liquidity, more transparency, and I’m pleasantly surprised and would have never predicted it before we filed it that we were going to see this type of retail demand,” he added. The post BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is The Fastest-Growing ETF appeared first on CryptoPotato.

BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is the Fastest-Growing ETF

In a recent interview on FOX Business, BlackRock CEO Larry Fink shared his insights on the potential for an Ethereum exchange-traded fund (ETF) amidst regulatory scrutiny.

Despite concerns over a possible designation of Ethereum as a security by the U.S. Securities and Exchange Commission (SEC), Fink expressed confidence in the feasibility of launching such an ETF.

SEC’s Stance on Ethereum Raises Doubts

BlackRock and several other ETF providers have submitted applications for a spot Ethereum ETF to the SEC. However, there are doubts regarding the agency’s approval of these ETFs as the May deadline approaches.

When asked about the SEC’s stance on ETH possibly being classified as a security, Fink refrained from providing detailed commentary but remained optimistic. “But I don’t think that designation is going to be too deleterious,” Fink stated, suggesting that such a designation wouldn’t necessarily hinder the creation of spot Ethereum ETFs.

It was recently disclosed that the SEC is exploring the classification of Ethereum as a security and has issued subpoenas to three companies for details regarding the Ethereum Foundation, a Swiss nonprofit important to the growth and advancement of the blockchain. This development has raised concerns about the possibility of launching an Ethereum ETF in the United States.

On the other hand, analysts in the field are sharing differing opinions. Bloomberg’s ETF experts James Seyffart and Eric Balchunas have voiced doubts, pointing to the SEC’s minimal interaction with filings as worrisome. However, Craig Salm has countered this argument, suggesting that the SEC’s lack of engagement shouldn’t necessarily signal the approval outcome.

Fink Bullish on Bitcoin

Despite these challenges, Fink remains optimistic about Ethereum’s and Bitcoin’s long-term prospects. BlackRock is not only pursuing an Ethereum ETF but also operates one of the most successful spot Bitcoin funds, the iShares Bitcoin Fund (IBIT), which has amassed over $17 billion in assets under management since its approval in January.

BlackRock CEO Larry Fink says the $IBIT Spot #Bitcoin #ETF is the fastest growing ETF in history pic.twitter.com/NOsDlFgROi

— Simon Dixon (@SimonDixonTwitt) March 27, 2024

IBIT is the “fastest-growing ETF in the history of ETFs,” Fink stated on Fox Business. He also said he is “very bullish on the long-term viability of Bitcoin. We’re creating now a market that has more liquidity, more transparency, and I’m pleasantly surprised and would have never predicted it before we filed it that we were going to see this type of retail demand,” he added.

The post BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is The Fastest-Growing ETF appeared first on CryptoPotato.
Important for Dogecoin: This Metric Jumps By Almost 100% Amid DOGE Price RallyTL;DR Dogecoin’s price surged past $0.20, with market cap nearing $30 billion, driven by increased trading volume and active addresses. The rally coincides with speculative whale movements and endorsements from public figures like Elon Musk. Dogecoin (DOGE) – often cited as the first meme coin – currently stands out as one of the market’s best performers. Its price has spiked by over 30% on a weekly scale, surpassing the $0.20 mark for the first time since December 2021. DOGE’s market capitalization inches toward the $30 billion level, making it the ninth biggest cryptocurrency. DOGE Price, Source: CoinGecko Key indicators related to the asset’s ecosystem have taken off, too. According to IntoTheBlock, aggregated daily volume (where each transaction is larger than $100K) has jumped by nearly 100%. Daily active addresses are also on the rise, registering a 13% increase. DOGE trading volume for the past 24 hours has been impressive. CoinGecko’s data shows that the figure has climbed to $5.5 billion, thus surpassing Solana’s SOL ($4.1 billion) and Ripple’s XRP ($1.9 billion). Dogecoin’s latest rally coincides with a slight resurgence of the cryptocurrency market and increased activity from whales. As CryptoPotato reported, a mysterious person (or entity) recently transferred more than 1 billion DOGE (worth over $200 million at current rates) to an unknown wallet.  The move triggered speculation within the crypto community, with many members trying to guess who this whale might be. Some suggestions even pointed out to Tesla’s CEO Elon Musk, an outspoken proponent of the memecoin and a HODLer. Not long ago, the world’s richest man said the EV giant may accept DOGE as a payment method “at some point.” Musk also promised to continue supporting the token, adding “Dogecoin to the moon.” The post Important for Dogecoin: This Metric Jumps by Almost 100% Amid DOGE Price Rally appeared first on CryptoPotato.

Important for Dogecoin: This Metric Jumps By Almost 100% Amid DOGE Price Rally

TL;DR

Dogecoin’s price surged past $0.20, with market cap nearing $30 billion, driven by increased trading volume and active addresses.

The rally coincides with speculative whale movements and endorsements from public figures like Elon Musk.

Dogecoin (DOGE) – often cited as the first meme coin – currently stands out as one of the market’s best performers.

Its price has spiked by over 30% on a weekly scale, surpassing the $0.20 mark for the first time since December 2021. DOGE’s market capitalization inches toward the $30 billion level, making it the ninth biggest cryptocurrency.

DOGE Price, Source: CoinGecko

Key indicators related to the asset’s ecosystem have taken off, too. According to IntoTheBlock, aggregated daily volume (where each transaction is larger than $100K) has jumped by nearly 100%. Daily active addresses are also on the rise, registering a 13% increase.

DOGE trading volume for the past 24 hours has been impressive. CoinGecko’s data shows that the figure has climbed to $5.5 billion, thus surpassing Solana’s SOL ($4.1 billion) and Ripple’s XRP ($1.9 billion).

Dogecoin’s latest rally coincides with a slight resurgence of the cryptocurrency market and increased activity from whales. As CryptoPotato reported, a mysterious person (or entity) recently transferred more than 1 billion DOGE (worth over $200 million at current rates) to an unknown wallet. 

The move triggered speculation within the crypto community, with many members trying to guess who this whale might be. Some suggestions even pointed out to Tesla’s CEO Elon Musk, an outspoken proponent of the memecoin and a HODLer.

Not long ago, the world’s richest man said the EV giant may accept DOGE as a payment method “at some point.” Musk also promised to continue supporting the token, adding “Dogecoin to the moon.”

The post Important for Dogecoin: This Metric Jumps by Almost 100% Amid DOGE Price Rally appeared first on CryptoPotato.
Dogecoin (DOGE) Explodes 10% Daily, Bitcoin (BTC) Reclaims $70K (Market Watch)Bitcoin slumped hard yesterday and dropped below $69,000, but the bulls have taken charge since then, and the asset now stands well above $70,000. While most alternative coins are slightly in the green, DOGE and BCH have gone on a tear with double-digit price gains overnight. BTC Goes Above $70K Last week was quite negative for the largest cryptocurrency, in which it fell to under $61,000 at one point and was down to $62,500 on Friday. The weekend finally saw a recovery attempt but BTC was stopped at $66,000. It wasn’t until Monday that the asset started actually charting meaningful increases and soared to $70,000. More gains came on Tuesday and Wednesday that culminated in jumping to almost $72,000 yesterday. However, the cryptocurrency failed to overcome that level, and the subsequent rejection pushed it south by over three grand to $68,500. The landscape now is quite different, and Bitcoin has returned to over $70,500 as the community’s anticipation for a $100,000 price tag grows stronger. Its market capitalization has increased overnight but still stands below $1.4 trillion. Its dominance over the alts remains stagnant at just under 50% on CG. BTCUSD. Source: TradingView DOGE, BCH Go Up Most altcoins were in a retrace mode yesterday but have managed to erase a large portion of the losses today. Binance Coin, Ripple, Toncoin, and Chainlink have increased by somewhere between 1% and 3%. Ethereum, SOL, ADA, and DOT are also in the green but in a more modest fashion. Shiba Inu has gained over 4% overnight, but its increase is trumped by its older and larger brother – Dogecoin. DOGE has jumped by over 10% in a day and sits above $0.2. Bitcoin Cash is the other notable gainer from the larger-cap alts. Just days ahead of its next halving, BCH has soared by 13% to over $550. The cumulative market cap of all crypto assets has increased by about $50 billion overnight but still stands below $2.8 trillion. Cryptocurrency Market Overview. Source: Quantify Crypto The post Dogecoin (DOGE) Explodes 10% Daily, Bitcoin (BTC) Reclaims $70K (Market Watch) appeared first on CryptoPotato.

Dogecoin (DOGE) Explodes 10% Daily, Bitcoin (BTC) Reclaims $70K (Market Watch)

Bitcoin slumped hard yesterday and dropped below $69,000, but the bulls have taken charge since then, and the asset now stands well above $70,000.

While most alternative coins are slightly in the green, DOGE and BCH have gone on a tear with double-digit price gains overnight.

BTC Goes Above $70K

Last week was quite negative for the largest cryptocurrency, in which it fell to under $61,000 at one point and was down to $62,500 on Friday. The weekend finally saw a recovery attempt but BTC was stopped at $66,000.

It wasn’t until Monday that the asset started actually charting meaningful increases and soared to $70,000. More gains came on Tuesday and Wednesday that culminated in jumping to almost $72,000 yesterday.

However, the cryptocurrency failed to overcome that level, and the subsequent rejection pushed it south by over three grand to $68,500. The landscape now is quite different, and Bitcoin has returned to over $70,500 as the community’s anticipation for a $100,000 price tag grows stronger.

Its market capitalization has increased overnight but still stands below $1.4 trillion. Its dominance over the alts remains stagnant at just under 50% on CG.

BTCUSD. Source: TradingView DOGE, BCH Go Up

Most altcoins were in a retrace mode yesterday but have managed to erase a large portion of the losses today. Binance Coin, Ripple, Toncoin, and Chainlink have increased by somewhere between 1% and 3%. Ethereum, SOL, ADA, and DOT are also in the green but in a more modest fashion.

Shiba Inu has gained over 4% overnight, but its increase is trumped by its older and larger brother – Dogecoin. DOGE has jumped by over 10% in a day and sits above $0.2.

Bitcoin Cash is the other notable gainer from the larger-cap alts. Just days ahead of its next halving, BCH has soared by 13% to over $550.

The cumulative market cap of all crypto assets has increased by about $50 billion overnight but still stands below $2.8 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto

The post Dogecoin (DOGE) Explodes 10% Daily, Bitcoin (BTC) Reclaims $70K (Market Watch) appeared first on CryptoPotato.
Shiba Inu Burn Rate Explodes By 1,200%: Is SHIB Poised for a Bull Run?TL;DR Shiba Inu’s burning rate increased significantly by over 1,000%, as part of efforts to decrease its supply and enhance value. SHIB’s price is up 17% weekly, possibly bolstered by numerous factors such as the advancement of Shibarium. The popular meme coin – Shiba Inu – has once again witnessed a substantial number of tokens removed from its total circulating supply. Latest data shows that the burn rate soared by 1,200% in the past 24 hours, resulting in over 51 million assets being destroyed. This represents approximately 30% of all the assets sent to a null address in the last seven days. Shiba Inu has a maximum supply of 999,982,363,413,352 tokens, and the burning mechanism is one way to make the meme coin scarcer and potentially more valuable in time.  The process is rather complicated and includes both manual and automatic burns. Those willing to learn more about it can read our detailed guide here. Not long ago, the team behind Shiba Inu introduced “a transformative token mechanism” to automate the entire system. It is worth mentioning that SHIB has been among the best-performing cryptocurrencies as of late, with its price rising by 17% in the last week (per CoinGecko’s data). SHIB Price, Source: CoinGecko Another factor possibly contributing to a Shiba Inu rally is the further advancement of Shibarium. The layer-2 scaling solution, launched in August last year, keeps blasting through important milestones. Earlier this month, total transactions on the network exceeded the 400 million mark, whereas total blocks are just south of 4 million.  Shibarium is designed to foster the growth and development of the Shiba Inu ecosystem and elevate the meme coin above its rivals. It aims to reduce transaction fees and improve speed. Those willing to learn more about the feature, feel free to watch our dedicated video below: The post Shiba Inu Burn Rate Explodes by 1,200%: Is SHIB Poised for a Bull Run? appeared first on CryptoPotato.

Shiba Inu Burn Rate Explodes By 1,200%: Is SHIB Poised for a Bull Run?

TL;DR

Shiba Inu’s burning rate increased significantly by over 1,000%, as part of efforts to decrease its supply and enhance value.

SHIB’s price is up 17% weekly, possibly bolstered by numerous factors such as the advancement of Shibarium.

The popular meme coin – Shiba Inu – has once again witnessed a substantial number of tokens removed from its total circulating supply.

Latest data shows that the burn rate soared by 1,200% in the past 24 hours, resulting in over 51 million assets being destroyed. This represents approximately 30% of all the assets sent to a null address in the last seven days.

Shiba Inu has a maximum supply of 999,982,363,413,352 tokens, and the burning mechanism is one way to make the meme coin scarcer and potentially more valuable in time. 

The process is rather complicated and includes both manual and automatic burns. Those willing to learn more about it can read our detailed guide here. Not long ago, the team behind Shiba Inu introduced “a transformative token mechanism” to automate the entire system.

It is worth mentioning that SHIB has been among the best-performing cryptocurrencies as of late, with its price rising by 17% in the last week (per CoinGecko’s data).

SHIB Price, Source: CoinGecko

Another factor possibly contributing to a Shiba Inu rally is the further advancement of Shibarium. The layer-2 scaling solution, launched in August last year, keeps blasting through important milestones.

Earlier this month, total transactions on the network exceeded the 400 million mark, whereas total blocks are just south of 4 million. 

Shibarium is designed to foster the growth and development of the Shiba Inu ecosystem and elevate the meme coin above its rivals. It aims to reduce transaction fees and improve speed. Those willing to learn more about the feature, feel free to watch our dedicated video below:

The post Shiba Inu Burn Rate Explodes by 1,200%: Is SHIB Poised for a Bull Run? appeared first on CryptoPotato.

Latest News

--
View More
Sitemap
Cookie Preferences
Platform T&Cs