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Solana Network Activity Surpassed Ethereum #sol

Reported by Cointelegraph, Solana network activity surpassed Ethereum over the weekend amid a scramble for Solana-based memecoins — causing the network to struggle to keep up.

On March 16, Solana’s total trading volume soared past Ethereum, reaching $3.52 billion and beating out the daily volume on the Ethereum network by more than $1.1 billion, per DefiLlama.

However, the Solana network struggled to keep up with the influx of activity, with many users across X complaining about frequent instances of failed or missing transactions.

According to Solana Validator data, cited by pseudonymous user “Dagnum” on X, Solana’s ping time ran between 20 and 40 seconds at 8 pm UTC on March 16, resulting in approximately 50% of transactions failing for around 20 minutes.
The huge uptick in Solana network activity was driven by an outsized appetite for new memecoins. On March 14, degens began piling into a new memecoin called Book of Meme (BOME), which rallied from near-zero to a market capitalization of $1.45 billion in just 56 hours.

Another memecoin dubbed “$NAP” (NAP) also garnered significant attention from traders, rallying from a market cap of around $20 million to over $330 million in less than 18 hours.

Analyst: "Bears are getting stronger in Bitcoin! The decline in BTC may continue to this level! "#ETH #SHIB #BTC #DOGE
The leading cryptocurrency, Bitcoin (BTC), gave back its gains in the last week with the correction it experienced in the last 24 hours, falling from $ 73,000 to $ 65,800.

Similar declines were experienced in Ethereum (ETH), BNB and XRP, while meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB), which have been popular recently, also fell.

While analysts stated that the selling pressure was behind these decreases, they said that the February PPI data coming in above expectations doubled the rate of decline.

At this point, analysts are also divided. While some analysts think that the correction will be short-lived, some analysts think that the correction may deepen further.

Speaking to Coindesk, FxPro senior market analyst Alex Kuptsikevich warned investors by predicting that more losses could occur in the coming weeks before the Bitcoin price recovers.
Bitcoin continues to trade at $67,553 at the time of writing.

*This is not investment advice.

Bitcoin Mining Difficulty Reaches New High as Investors Anticipate Halving Event.#BTC
Bitcoin mining difficulty reached a new historical peak on March 14th with 83.95 trillion hashes. The new difficulty level was set on the same day as the all-time high Bitcoin price of $73,835, amid increasing investor sentiment before the Bitcoin halving event in April. Mining difficulty is a measure of how difficult it is to mine Bitcoin, which involves solving cryptographic puzzles that increase or decrease in complexity depending on the number of miners in the network.
What’s Happening on the Bitcoin Front?
Bitcoin, on February 29th, reached a new difficulty level of 83.95T hash, a 5.8% increase compared to the previous measure of 79.35T hash. With a speed of 613.94 exahash (EH/s) per second, there was a 1.96% increase from the previous cycle’s 602.14 EH/s.
As previously discussed, mining difficulty surpassed 80T on February 15th, just over a month before the February 29th update, which saw no decrease. According to BTC.com’s predictions, the next difficulty adjustment set for March 27th is expected to see a slight increase to 84.17T.
Meanwhile, Bitcoin’s price movement continued its upward momentum, benefiting miners. Mining rewards rose to $78.89 million on March 11th, surpassing the previous high reward level of $74.4 million set in October 2021. This occurred as Bitcoin reached a level of $72,953 before retreating to $69,655 on March 12th.

The March 14th movement showed a retreat immediately following a surge to a new ATH-like level; the day’s rally led Bitcoin to rise to $73,835 before falling to $69,813.Bitcoin and the Halving Process
Cryptocurrency sector analysts and experts have linked Bitcoin’s steady growth throughout the fourth quarter of 2023 and its continuation into the first quarter of 2024 to the halving event planned for mid-April.
Halving is a period when the block reward for Bitcoin mining will be halved from 6.25 Bitcoin to 3.125 Bitcoin. The first halving occurred on November 28, 2014, reducing rewards from 50 Bitcoin to 25 Bitcoin.

Price PEPE Soars to Print New ATH, Memecoin Still Hot Following Bitcoin's Steps
#pepe #BTC

Price PEPE Soars to Print New ATH

Crypto Intelligence reports that, Pepe Coin has joined this incredible trend by hitting a new all-time high (ATH), a development that prompted large holders to start securing their profits.

Launched in April of the previous year, the frog-themed PEPE quickly created a niche for itself in the competitive memecoin market, challenging other leading names such as BONK and various Solana-based memecoins.

Despite experiencing a period where it received less attention, PEPE's value soared during the most recent market rally, benefiting from the overall positive market sentiment that boosted many cryptocurrencies.

A notable highlight in PEPE's recent journey was a significant transaction identified by Lookonchain, where a whale achieved gains of over 431 percent in just two weeks.

This individual withdrew more than 1 trillion PEPE tokens from Binance in three separate moves before the price spike, generating an impressive profit of US$8.13 million from an initial investment of US$1.7 million in PEPE tokens.

These transactions underscore the potential for substantial gains in the memecoin sector and illustrate the shrewd maneuvering of some investors adept at navigating the volatile crypto market.

This surge in PEPE's value indicates a broader resurgence of interest in memecoins. Over the past month, PEPE itself has seen its value increase by 800 percent, pushing it to become the third largest memecoin by market capitalization, at US 3.85 billion.

This growth reflects a strong increase in trading volume and market activity, highlighting the rising popularity of these tokens and growing investor interest in memecoins.

Bitcoin, Ethereum, Dogecoin Drop Amid Hotter-Than-Expected CPI Data: Analyst Says The Next Key Level For King Crypto Is 83K
#BTC #ETH✅ #DOGE🔥🔥
Major cryptocurrencies took a slight breather on Tuesday evening amidst a sudden surge of volatility in the cryptocurrency market.
Matrixport, a crypto investment services firm, observed in its Tuesday market update that the rally of Bitcoin was displaying indications of waning momentum.

“We have been bullish on bitcoin since the end of January, but the risk-reward analysis favors a period of consolidation,” Matrixport analysts said. “This bull market still has legs, but the divergence between a declining RSI and still high Bitcoin prices could signal that Bitcoin needs to consolidate before rallying again.

Bitcoin Price Poised for Potential Growth Following Stability#BTC #xrp #CIN
Surge and Dip: Raca Coin’s Market Trajectory
Raca Coin experienced a 330% upsurge within two weeks post-February 26th, only to witness a downturn starting March 11th. Should the price of Raca Coin slip below a critical threshold, we may see a swift plunge mirroring its previous rise. A concurrent dip in Bitcoin could exacerbate Raca Coin’s downturn, while sellers cashing out could further expedite the decline.

CEEK Coin: Fluctuating Volumes and Investor Interest
CEEK Coin’s trade volume on Turkish exchanges has diminished to $172 million. Despite its ranking at 44th in trade volume, the coin currently sees relatively low interest from Turkish investors. This could be due to the heightened attention other altcoins have garnered with their recent spikes in value. CEEK Coin’s price has retracted from its peak and could be headed towards lower support levels in the near term.

Floki Coin’s Price Outlook Amid Market Turbulence
Floki Coin, fresh off its peak, is attracting buyers at its current level. Although the descent hasn’t accelerated, the onset of selling pressure could trigger a sharp price drop. Conversely, a successful bull run requires the coin to break through its recent peak, setting the stage for higher price targets.

XRP Coin Reacts to Market Withdrawals
XRP Coin’s price experienced a temporary increase following significant withdrawals from Binance. The inability to maintain this climb has resulted in a price correction. Continued selling could see further declines, although XRP Coin presently holds above critical support levels, suggesting a potential for stability.

Bitcoin Soars to Record Heights While Altcoins Lag Behind #ETH✅ #CHZ #Solana🚀 #BTC.😉. #RACA
Solana’s Market Position Challenge
Solana, a major Ethereum rival in terms of market capitalization, is struggling to regain its position from Binance Coin (BNB). With only a modest increase compared to BNB’s 25% weekly gain, Solana needs an additional $12 billion in market value to reclaim its standing. Price movements indicate that surpassing the $156 mark could lead to targeting higher peaks at $177 and $200, with the ultimate high at $256 in sight.
Chiliz Eyes Higher Price Points
Chiliz (CHZ), another cryptocurrency actively pursued for gains, faces resistance at $0.167. To trigger a more robust rally and hit price points between $0.2 and $0.27, closures above $0.17 are critical. A sustained position over the resistance level of the parallel channel suggests that the rally could persist.

RACA Attracts Turkish Investors
RACA coin, after tripling in value within three weeks, has captured significant interest from Turkish investors. As it revisits levels not seen in 665 days, further increases could occur with closures above $0.00071. The coin’s trajectory hints at long-term aspirations, with potential tests at $0.00087 and $0.00115 if Bitcoin continues to provide favorable market conditions.

CEEK’s Speculative Surge
CEEK coin, known for its speculative nature, also enjoys considerable attention from Turkish investors. Following Bitcoin’s lead, CEEK has shed a zero in its price, pointing to optimistic targets at $0.124 and $0.141. In case of a downturn, $0.083 and $0.057 emerge as significant support levels to watch.

Tether (USDT) Announces The Next Altcoin Network It Will Run On
Tether (USDT), the world's largest stablecoin by market value, will be available on the mobile-focused layer-1 platform Celo. This integration aims to improve cross-border payments and peer-to-peer transactions, especially in developing regions.

Currently migrating from a standalone blockchain to a new layer-2 on top of Ethereum, Celo is a mobile-first network that claims to offer multiple stable assets to users worldwide. However, it primarily targets emerging markets.

The integration of USDT into Celo will expand the uses of fixed assets currently available in Celo.

Related News: Bad News for Ethereum Spot ETFs from Bloomberg Analysts: They Announced Updated Approval Estimates #ETHETF

A forum focused on the Celo community will propose the use of USDT as a transaction fee currency. This move is expected to make transactions within decentralized applications (dApps) more efficient.

Tether CEO Paolo Ardoino expressed his excitement about the integration. “The integration of Tether USDT into the Celo platform built for the real world will be a significant step forward in our mission. By leveraging Celo's unique capabilities, we can further increase the usability and accessibility of Tether for millions of people,” he said.

*This is not investment advice.

Continue Reading: Tether (USDT) Announces The Next Altcoin Network It Will Run On

FLOKI Continues to Dominate, Memecoin Beats Bitcoin in Popularity #Flokii
In a remarkable surge, FLOKI has once again shattered records, crossing an ecosystem Total Value Locked (TVL) milestone of $756 million. This achievement comes just two days after the crypto set a previous record of $658 million, showcasing its rapid growth and strong fundamentals.
What makes this accomplishment even more significant is that FLOKI’s TVL now exceeds the combined TVL of major memecoins, including PEPE, WIF, BONK, DOGE, and SHIB. This highlights FLOKI’s unique position, leveraging both meme appeal and utility.

Adding to its recent token burn milestone, FLOKI reports burning over $3.2 million worth of FLOKI tokens additionally in the past week. This perpetual deflation is driven by robust utility demand, setting FLOKI apart from other meme coins like DOGE, PEPE, SHIB, BONK, and WIF.
The key contributors to these burns are the Floki Staking Program, with a 5-20% early unstake penalty fee, this program perpetually burns $FLOKI tokens when stakers choose to unstake early. In addition, the FlokiFi Locker DeFi Crypto Protocol, this protocol buys and burns FLOKI tokens for every successful transaction on the Ethereum and Binance Smart Chain networks.
While FLOKI proudly embraces its memecoin origins, the focus on strong utility and fundamentals sets it apart. This approach positions FLOKI for dominance in the competitive cryptocurrency space, aligning with its goal of becoming the world’s most known and used cryptocurrency.$FLOKI

Bitcoin Miners Gear Up for Reward Cut
Strategizing for Survival and Profit
Analyst Daniel Gray advises miners to keep their operations robust by maintaining hash rates, managing energy consumption, and enduring network competition. The report encourages miners to be proactive in their approach, optimizing hashrate efficiency, sourcing affordable energy, and investing in infrastructure upgrades.

The intense competition for resources among miners requires innovation to stay ahead. Fidelity notes that the immediate aftermath of halving will be challenging, demanding miners have financial reserves to buffer the reduced income.

The report remains optimistic about the Bitcoin network’s resilience, citing the introduction of new protocol layers that could expand use cases and user base. Despite historical exits of less competitive miners after halvings, the sector has shown robust recovery and growth in participation and hashrate.

Market Predictions and Miner Sentiments
JPMorgan analysts have spotlighted the halving’s potential pressure on Bitcoin prices, suggesting a possible decline to $42,000. They note that production costs, historically a price baseline, could double post-halving, impacting miner competition and the network’s hashrate. However, Luxor’s marketing director, Alessandro Cecere, believes a Bitcoin price increase to $100,000 could offset the halving’s effect on miners’ profits.

Bitcoin Miners Invest Over $1 Billion in Equipment Purchase #BTC.😉.
Bitcoin Miners Navigate Bullish Market Trends
Survival Mode Activation: Bitcoin miners have re-entered survival mode, propelled by the prevailing bullish trend in Bitcoin’s market. The launch of the Spot Bitcoin ETF in January ignited substantial price surges for Bitcoin, catapulting it from below the $45k level to surpass $45k immediately after the ETF’s introduction.
Rising Price Trajectory: With the increasing acceptance of ETFs and anticipation surrounding the upcoming Bitcoin halving, the price of BTC began an upward trajectory. It swiftly surpassed significant milestones, including $50k and $60k, ultimately reaching a new all-time high of $70k recently.
Current Market Status: Presently trading at $68,684, Bitcoin exhibits a 24-hour increase of 1.94% and a weekly surge of 12.23%. These figures underscore the ongoing bullish momentum in the Bitcoin market, driving renewed activity among miners seeking to capitalize on the price surge.
Mining Companies Invest Billions in Specialized Computers
According to data from TheMinerMag, leading mining companies have collectively ordered approximately $1 billion worth of specialized computers since February 2023. Notably, CleanSpark Inc. and Riot Platforms emerged as the top spenders, allocating $473 million and $415 million, respectively, for these purchases.

DOT & LTC Join Kelexo (KLXO) Presale Mania: Ethereum ETH Predicts 20X Growth In Lending Sensation
Polkadot (DOT) Coming Alive in March
As the crypto sector continues to grow, Polkadot (DOT) looks set to leave its mark beyond 2025. With its constant push for further development, its growing community’s ever increasing support and an unambiguous development vision, Polkadot (DOT) is on track to achieve its goals of charting a new path for blockchain technology. Polkadot (DOT) is likely to continue on the path of innovation and growth that Bitcoin’s (BTC) launch first set it on and promised to remain a major player within the crypto ecosystem. As of March 9th, Polkadot (DOT) was trading at $10.72, recording a 24-hour gain of 3.6% and a weekly gain of 20%.
Litecoin (LTC) Gains a Bit of a Pump in March
Impressive gains have been witnessed by Litecoin (LTC) as it embarked on a remarkable rally, with its monthly price range showing an impressive 28.4%% increase, reaching between $68.2 and $88.75 where it was trading at press time. Despite the impressive run, Litecoin (LTC) has cooled off to begin the second week of March, recording a 1.7% loss last week.
Kelexo (KLXO) Presale Launch Resonates with Ethereum (ETH) Holders
Ethereum (ETH) whales are making big moves as a spate of interest in the leading smart contract platform has it flirting with $4,000. As of March 9th, ETH was trading at $3,934, recording a 15% gain last week. One of the projects Ethereum whales are rolling their profits into is Kelexo (KLXO), one of the most promising DeFi projects in a long time.

Kelexo (KLXO) is revolutionizing the banking sector by simplifying identification and compliance processes, thereby broadening access to financial markets for a wider range of participants particularly in the multibillion-dollar lending and borrowing sector. This innovative online lending platform, built on blockchain technology, prioritizes security, transparency and decentralized governance. #LTC/USDT

Meme Coins Skyrocket – Shiba Inu, Dogwifhat, And KangaMoon Lead the Charge#SHIBA✅🚀 #WTFsec
Shiba Inu (SHIB) Releases V1.1 of Name Service, SHIB Surges To Top 12
In a recent tweet, Shiba Inu announced the launch of Shib Name Service (SNS), the long-awaited early access to Shib name tokens. The project has already frozen the transfer of current token names to allow a Snapshot that will be used to airdrop the new Shib names.
Meanwhile, the Shiba Inu coin is one of the performing meme coins in the market, as it joined the top 12 cryptos by market cap. Data from CoinMarketCap showed that the price of the meme coin skyrocketed 255.0% to reach a weekly high of $0.00004566 from a low of $0.00001048.
During this period, Shiba Inu’s market cap and trading volume have skyrocketed with the market cap rising as high as $23 billion. The price surge has attracted several investors to the platform, with over 85% of SHIB holders in profit.
Dogwifhat (WIF) Price Skyrockets As It Is Listed on Binance
Binance, the leading global crypto exchange, has revealed its plans to include Dogwifhat (WIF), a meme coin built on the Solana blockchain, in its trading roster. The trading of WIF is scheduled to commence on March 5, 2024, introducing four fresh trading pairs: WIF/USDT, WIF/FDUSD, WIF/BTC, and WIF/TRY.

This move to list WIF on Binance is anticipated to enhance the token’s visibility and liquidity, likely drawing additional investors and traders to the coin. Interestingly, Dogwifhat is one of the best-performing meme coins in the market right now.

Bitcoin Peaks in Five Years as BlackRock Drives Demand #ETFBitcoin #BTC
BlackRock and Bitcoin
The world’s largest asset management company BlackRock filed for a spot Bitcoin ETF in November 2023, and today’s events were predicted 7-8 months ago. The demand is high, and the efforts of a trusted company like BlackRock are increasing confidence in BTC within traditional financial markets.
BlackRock officials have probably been telling themselves for a long time how correct their decision was, looking at volume data. In just two months, BlackRock’s BTC assets rose to 196,065 BTC, surpassing MicroStrategy’s reserve of 193,000 BTC. BlackRock’s leading Bitcoin ETF, IBIT, has seen significant interest from investors since its launch in January, with BTC reserves growing exponentially.
Gold and Bitcoin
ETF expert Nate Geraci looked at the past two months from a different perspective and compared the situation with gold. Geraci highlighted the excitement by pointing out that the demand for nine new spot Bitcoin ETFs in the last two months surpassed the total inflow to all physical gold ETFs in the last five years.
Spot Bitcoin ETF’s volume over two months exceeded $100 billion. On many days, BlackRock’s ETF was among the most sought-after within all US-based ETFs. Since launch day, 4% of the total Bitcoin supply has entered issuer reserves. The supply shortage could deepen under current conditions as only $140 billion worth of Bitcoin remains on centralized crypto exchanges

Solana Soars to $150 Amid Crypto Surge: What’s Behind the Latest Rally?
Solana (SOL) has recently surged past the $150 mark, marking a significant milestone for the cryptocurrency not seen since January 2022.

This surge coincided with Bitcoin smashing through yet another all-time high, surpassing $70,000, and Ethereum reclaiming the $4,000 threshold for the first time since 2021. Despite a brief dip after reaching this milestone, Solana’s price has largely recovered, settling around $150 at the time of reporting.

This recent upswing follows a pattern of market resurgence, with Solana’s value rebounding alongside other major cryptocurrencies. In December, Solana had breached the $120 mark before experiencing a period of stagnation. However, recent weeks have seen renewed momentum, driving Solana’s price upward.

While Solana’s current price remains significantly below its peak of nearly $260 in November 2021, the cryptocurrency’s recent surge is fueled by several factors. Notably, the growing popularity of decentralized finance (DeFi) trading has contributed to Solana’s rise. Additionally, the emergence of Solana-based meme coins has added to the cryptocurrency’s appeal, riding the wave of crypto hype. #Solana🚀 #ETH✅

Gaming Giant Ubisoft Embraces Blockchain Technology As Node Validator In XPLA Ecosystem
Ubisoft, a renowned video game developer and publisher, has announced its participation as a node validator in the XPLA ecosystem, demonstrating its intention to explore blockchain technology.

According to the March 7 announcement, Ubisoft’s participation in the ecosystem aligns with its focus on innovation through its Strategic Innovation Lab, which aims to anticipate future trends and capitalize on opportunities presented by “cutting-edge” technologies.
Related Reading: BREAKING: Ethereum (ETH) Breaks Two-Year Price Record, Surging Above $4,000
As the announcement notes, the partnership between Ubisoft and XPLA is particularly promising in the gaming industry. Ubisoft’s participation as a validator in the ecosystem is expected to generate “synergies” and contribute to the validation process.

In addition, Ubisoft will actively participate in decisions regarding governance proposals to strengthen the XPLA network further. Leveraging Ubisoft’s expertise in video game creation, the collaboration is expected to mark an important achievement in blockchain networks and the expansion of the Web3 gaming sector.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Paul Kim, the team lead of XPLA, expressed enthusiasm about Ubisoft’s involvement, emphasizing the shared goal of creating a “more transparent” and “trustworthy” Web3 ecosystem. The collaboration aims to deliver an appealing gaming experience to players worldwide. Kim further stated:

We are thrilled to welcome Ubisoft as an XPLA validator. Together, we will cooperate to create a more transparent and trustworthy Web3 ecosystem, striving to provide an attractive gaming experience to players worldwide

Ethereum Accumulation Signals Strong ETH Price Rally Above $4000
Ethereum enthusiasts are celebrating today as the cryptocurrency’s price surges by 5%, edging closer to the $4,000 milestone. This impressive rally is fueled by substantial Ethereum accumulation and positive market sentiment, signalling a potential upward trajectory for ETH.
Besides, the strong accumulation of the second-largest crypto has also sparked discussions over a further rally in Ethereum price in the coming days.

Massive Ethereum Accumulation Boosts Market Confidence
Recent data from the blockchain tracking platform, Spot On Chain, reveals a surge in Ethereum accumulation, providing a strong foundation for the cryptocurrency’s price rally. Over the past few days, wallets associated with Pulse Chain and Pulse X have purchased a staggering amount of ETH, totalling 163,295 ETH worth approximately 620.7 million DAI.

Notably, the blockchain tracking platform, Spot On Chain, reveals significant on-chain ETH purchases linked to Pulse Chain/X wallets. In the latest update, 15,003 ETH were acquired using 59 million DAI today, totalling 163,295 ETH over four days. This marks an average price of $3,801 and an estimated unrealized profit of $24.3M
#ETH✅ #Etherrum

Pepe Coin Takes 100% Of Holders Into The Green: Is A Coinbase Exchange Listing Next? #PEPE‏ $PEPE

What Happened: Binance announced new trading pairs for meme coins, including PEPE/USDC as a trading pair effective Mar.7.

According to LBank Exchange data, Pepe has gained 36,530% since its launch.

IntoTheBlock data shows that 100% of Pepe holders are in profit, while transactions greater than $100,000 have surged to 1,241 transactions on March 5, compared to 566 transactions on Feb.28.

Notably, trading volumes have hit all-time highs with over $3 billion, making Pepe a top 15 token in terms of current trading volumes.