Tron surged by 10.5% despite prevailing market downturns, showcasing resilience.

The cryptocurrency rebounded from a significant support level following Bitcoin’s fourth halving event.

Tron’s network witnessed a substantial uptick in activity, with daily active addresses increasing by 37% in a month.

Amidst a backdrop of market downturns, Tron (TRX) has recently made headlines with an impressive surge of 10.5%. 

Tron’s recent price movements have been anything but static. While the cryptocurrency has experienced a downward trend over the past months, resulting in a significant decrease in value, it found solid ground following Bitcoin’s fourth halving. Rebounding from the crucial $0.105 level, Tron surged to $0.115, fueled by renewed buying activities, signaling renewed investor confidence.

Beyond the realm of price fluctuations, Tron’s network activity has been on the rise. Data from IntoTheBlock reveals a substantial uptick, with daily active addresses climbing to 2.27 million, marking a notable 37% increase from the previous month. This surge in activity reflects a growing engagement within the Tron ecosystem, suggesting potential stability and further valuation growth for TRX.

Tron‘s recent surge not only challenges prevailing market conditions but also hints at its potential to break through resistance levels. The increase in active addresses highlights the strengthening of community support and engagement, bolstering Tron’s position in the cryptocurrency landscape. Looking ahead, potential price targets post-breakout could see Tron aiming for $0.12 and then $0.144, solidifying its bullish outlook. 

In conclusion, Tron’s ability to withstand broader market challenges, coupled with its rising network activity and potential for overcoming resistance levels, positions TRX for continued strong performance in the cryptocurrency market.

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TRON (TRX) Price Analysis Aug Week 3 to 4

The post TRON Defies Market Downturn, Surges Over 10%: What’s Behind It? appeared first on Crypto News Land.

Analyst projects XRP’s price to reach $1.4 by the middle of this year, fueled by historical data.

Despite optimistic forecasts, skepticism arises due to recent lackluster price action and resistance at the $0.55 level.

Ripple’s legal battles with the SEC and scrutiny over transactions with Tether contribute to XRP’s subdued market performance.

An analyst’s bold projection suggests that XRP could soar to $1.4 by mid-year, igniting hope among investors and traders alike.

#XRP Imitating 2021 – Move: Blue Section: The current trajectory suggests a possible reach of $1.4 by June-July, a key target. The price range between ($1.2 – $1.8) is a plausible target. Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.… pic.twitter.com/BMUJSbb5GQ

— EGRAG CRYPTO (@egragcrypto) April 25, 2024

Drawing parallels from its remarkable performance in 2021, this forecast hinges on historical data and market movements reminiscent of previous bullish cycles. However, amidst this optimism, cautionary flags are raised, reminding stakeholders of the speculative nature inherent in cryptocurrency investments.

While one analyst paints a picture of upward momentum, another voice echoes with skepticism. Highlighting recent lackluster price actions and persistent resistance at the $0.55 threshold, doubts linger in the air, casting shadows on XRP’s potential ascent.

Recent trading data reveals a subdued price trajectory, currently hovering at $0.520, with subtle fluctuations observed over recent weeks. This modest decline could be attributed to Ripple’s ongoing legal battles with the SEC, compounded by scrutiny over transactions involving Tether (USDT).

The legal saga unfolds as Ripple’s defense team challenges the SEC’s punitive stance, advocating for a more equitable resolution. However, regulatory uncertainties loom large, underscoring the importance of monitoring external factors that influence XRP’s price dynamics.

As investors navigate these turbulent waters, cautious optimism is advised. The crypto landscape remains volatile, subject to sudden shifts driven by both technical and regulatory developments. Amidst the uncertainty, XRP retains its allure, beckoning attention with the promise of significant returns tempered by the realities of the evolving market ecosystem.

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The post XRP: Top Analyst Predicts $1.4 Price Surge by Mid-Year appeared first on Crypto News Land.

BNB’s price has surged by 18.4% following a constructive pullback, outperforming the broader market.

The 27th quarterly BNB burn removed 1,944,452.51 BNB from circulation, reinforcing deflationary measures.

The impending breakout from the pennant pattern hints at a potential rally toward $775, contingent on market dynamics.

After experiencing a constructive pullback, the price of BNB is displaying promising signs of a potential breakout from a pennant formation. 

Despite the broader market’s sluggish behavior post-Bitcoin Halving, BNB has managed to outperform, marking a notable rally from its recent low on April 17th. Currently trading at $607, the altcoin has surged by 18.4%, indicating a resurgence in buying momentum.

The impending breakout from the pennant pattern offers a glimmer of opportunity for investors eyeing a target of $700. This technical setup, often observed in established uptrends, serves as a breather for buyers to regain bullish momentum. With BNB’s short-term trajectory showcasing lateral movement amidst converging trendlines, the stage is set for a potential upward surge.

Adding to the optimism is the recent completion of the 27th quarterly BNB burn, orchestrated by the BNB Foundation. A staggering 1,944,452.51 BNB has been removed from circulation, amounting to an estimated value of $1.17 billion. This strategic move underscores the foundation’s commitment to deflationary mechanisms within BNB’s tokenomics, aligning with the protocol’s recalibration every quarter to match ecosystem growth and BNB’s performance.

As BNB’s price approaches the upper boundary of the pennant pattern, a successful breakout could signal the continuation of its prevailing rally, potentially setting a course toward $775. However, the outcome hinges on market dynamics, with a sustained supply pressure potentially leading to a reversal from the overhead trendline. Such a scenario could extend the consolidation trend for a few days to weeks, influencing the likelihood of BNB’s recovery to $650 by month-end, contingent upon a triangle breakout this week.

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BNB Price Rally Continues With Record-Breaking 4M User Surge

BNB Technical Analysis Reveals Surprising Patterns: Is Price Surge Imminent?

The post BNB’s Price Soars: Breakout Imminent from Pennant Pattern appeared first on Crypto News Land.

FBI warns against using non-MSB registered crypto services

Non-compliance could lead to asset loss during law enforcement actions

Check crypto service registration via the FinCEN tool for safety

The U.S. Federal Bureau of Investigation has issued a warning to Americans today about the risks of using cryptocurrency services that are not registered as Money Services Businesses (MSBs). The advisory, released through the FBI’s Internet Crime Complaint Center (IC3), stresses the importance of compliance with federal anti-money laundering regulations.

According to the FBI’s recent statement, consumers should exercise caution and verify that any cryptocurrency money-transmitting service adheres to the necessary legal requirements, including collecting Know Your Customer (KYC) information. KYC protocols typically require collecting personal details such as name, date of birth, and address to help prevent illegal activities. The FBI highlighted the availability of a FinCEN tool that allows users to check whether a business is registered as an MSB, thus confirming its legitimacy.

FBI warns Americans not to use #crypto services from firms that are not registered as Money Services Businesses (MSBs) under federal law…Coinbase + Kraken appear in the US Financial Crimes Enforcement Network (FinCEN) tool provided to check for registered providers. pic.twitter.com/PGCvziukZM

— myTradeSignals (@mytradesignals) April 25, 2024

Moreover, the statement noted that engaging with unregistered services could lead to complications, including potential financial disruptions during law enforcement actions. Such services might also inadvertently be involved in illegal transactions, increasing the risk for users whose assets could become entangled in criminal investigations.

The FBI advises against using any crypto service that fails to request essential KYC information before facilitating transactions. They warn that such neglect could indicate non-compliance with federal laws, posing significant risks to users, including losing access to funds during crackdowns on these services.

This guidance comes in response to recent law enforcement operations targeting non-compliant cryptocurrency services, underscoring the ongoing efforts to safeguard the financial system and protect consumers from potential fraud and other illegal activities associated with unregistered crypto money transmitters.

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The post FBI Cautions on Unregistered Crypto Money Transmitting Services appeared first on Crypto News Land.

SEC delays decision on Bitcoin ETF options to solicit public feedback.

Multiple exchanges propose options trading on Bitcoin ETFs.

Approval of 11 spot bitcoin ETFs precedes SEC’s consideration of options trading.

The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision-making process regarding trading options on spot Bitcoin ETFs. The agency has highlighted the necessity of public opinion to shape the future rules that will govern these financial products.

Multiple prominent exchanges, including Cboe Exchange, BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC, and NYSE American LLC, have proposed introducing options trading on these innovative ETFs. 

In response, the SEC’s recent filing has set a period for public commentary ending in 21 days, with an additional 14 days allowed for rebuttal comments.

Community Feedback and Regulatory Considerations

As part of the regulatory review process, the SEC is particularly interested in whether these Bitcoin ETF options should be regulated similarly to stock options. Specific queries have been raised about whether the same position limits applied to stocks should also cover these ETF options and if the market supply of Bitcoin should influence these limits.

#SEC delays decision and opens comment period on whether or not to allow options trading on spot #Bitcoin ETFs.#Bitcoin #BTC #Crypto #LQR #LaqiraProtocol pic.twitter.com/YPnlVbKJUs

— TOBTC (@_TOBTC) April 25, 2024

In recent months, the idea of enabling options trading on bitcoin ETFs has gathered some support, with proponents arguing that such moves would allow investors better mechanisms for hedging and risk management. This perspective was supported by previous public comments filed with the SEC.

Meanwhile, the SEC’s approval of 11 spot Bitcoin ETFs earlier in January marked a significant development, attracting substantial investment inflows totaling over $12 billion. The transition towards options trading on these ETFs seems logical in the maturing cryptocurrency market, echoing previous regulatory paths taken with other commodities, such as gold.

The SEC’s call for public input represents a crucial step in carefully expanding financial products tied to digital assets, ensuring that regulatory frameworks keep pace with market innovations. 

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The post SEC Postpones Decision on Bitcoin ETF Options Trading, Seeks Public Insight appeared first on Crypto News Land.

As the cryptocurrency landscape evolves, three distinct narratives emerge, each painting a unique picture of the current state of the market. With Bitcoin (BTC) seeing intensified competition, Ethereum (ETH) facing critical decisions, and Furrever Token (FURR) captivating users with its whimsical charm, the crypto sphere is alive with excitement and anticipation. Let’s delve into each of these compelling stories to gain insight into the ever-changing dynamics of the digital asset world.

Bitcoin (BTC) Battle Heats Up!

The battle is intensifying in the leading cryptocurrency Bitcoin (BTC). In Bitcoin (BTC), where buyers and sellers are constantly at odds, the rise following the Halving has given way to a downturn. Bitcoin (BTC) tested $67,070 yesterday before reversing course and showing a downward trend, currently trading at $64,280.

The leading cryptocurrency Bitcoin (BTC) experienced a rise to $67,000 after testing the $60,000 support before the Halving. After testing $67,070 yesterday, Bitcoin (BTC) saw a sharp decline, closing the day at $64,289 with a 3.20% drop. Today, Bitcoin (BTC) has been trading sideways and is currently at $64,280. Upon examining the daily chart, we see that Bitcoin (BTC) has remained at the EMA55 support for two days and continues to trade in this range. For Bitcoin (BTC) to resume its upward trajectory, it needs daily closes above $65,750. Target prices for daily closes above $65,750 are $69,000-$71,000 and $73,000 respectively. It should be noted that increased selling pressure could occur with daily closes below EMA55 at $64,226. In the event of increased selling pressure, the first support levels are $60,000 and the EMA100 at $69,599.

Ethereum (ETH) on the Verge of a Major Decision

With a market capitalization of $384.86 billion, Ethereum (ETH), the second-ranked cryptocurrency behind Bitcoin (BTC), accompanied Bitcoin (BTC) in its rise following the Bitcoin (BTC) Halving. However, Ethereum (ETH) took a break from its ascent influenced by the sharp sell-off in Bitcoin (BTC) yesterday, closing the day at $3,139.5 with a 2.50% drop. Starting slightly positive today, Ethereum (ETH) is currently trading at $3,156.3 with a 0.54% increase.

With a market capitalization of $384.86 billion, Ethereum (ETH) is the second-ranked cryptocurrency behind Bitcoin (BTC). Following the Bitcoin (BTC) Halving, Ethereum (ETH) surged from $2,858 to $3,293.1 before encountering selling pressure. Ethereum (ETH) closed the day at $3,139.5 with a 2.50% drop. Starting the day with a slight increase, Ethereum (ETH) is currently trading at $3,156.3 with a 0.54% increase. Upon examining the daily chart, we see that Ethereum (ETH) is trapped between the EMA5 and EMA100. For Ethereum (ETH) to resume its upward trajectory, it needs daily closes above $3,250, while the first support levels in the event of potential downturns are the EMA100 at $3,092.1 and the horizontal support at $2,858.

The investment information, comments, and recommendations provided here are not within the scope of investment consultancy. Investment consultancy services are provided on a personalized basis, taking into account individuals’ risk and return preferences. The content, comments, and recommendations provided here, which are in no way directive, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making investment decisions solely based on the information provided here may not yield results consistent with your expectations.

Crafting a Whimsical Crypto Experience: The Enduring Appeal of Furrever Token (FURR)

In the midst of market volatility, Furrever Token (FURR) stands tall as a symbol of resilience, navigating the uncertainties with unwavering momentum. Unlike its peers in the cryptocurrency realm, FURR brings a breath of fresh air, infusing the space with a delightful touch of cuteness. Departing from the usual seriousness of blockchain ventures, FURR offers users a charming and endearing journey, tapping into the universal charm of adorable felines.

At its core, FURR is on a mission to create a heartwarming crypto ecosystem, where users unite in a community centered around shared joy and a penchant for the lighter side of digital assets. The project strives to foster connections and camaraderie, transcending the conventional boundaries of blockchain utility.

Setting itself apart, FURR adorns a user-friendly platform with irresistible cat imagery, featuring cute stickers, emojis, and visuals that enhance the overall experience. This playful approach not only distinguishes FURR but also creates a unique and enjoyable environment for its community.

With a strategic tokenomics plan, FURR allocates 65% during the presale, reserves 25% for decentralized exchanges (DEXs), and locks 10% for the team to ensure long-term viability. This transparent token allocation, coupled with a focus on security and compliance, instills confidence among investors and users.

Despite market fluctuations, FURR has achieved significant milestones, raising over $1 million within just two months of its presale launch. This remarkable feat underscores investor interest and confidence in the project’s vision. As FURR prepares for its official launch on DEX PancakeSwap, it prioritizes security and compliance, conducting audits and implementing safety measures for all users.

Amidst market turbulence, FURR’s organic growth and active community engagement testify to its resilience and potential. With nearly 4,000 members on its Telegram channel, FURR’s community-driven ethos shines, navigating through market challenges while striving for success.

Currently priced at $0.000648, Furrever Token invites enthusiasts to explore its vibrant world and join its lively community at furrevertoken.com. For inquiries or support, reach out to the official support channel at support@furrevertoken.com.Discover the Most Exclusive Presale Opportunity of 2024 Now:Furrever Token Official Website  |   Visit Furrever Token Presale Join Official Telegram Group       |   Follow Official X Account

The post Enhancing Your Crypto Portfolio: Insights into Bitcoin, Ethereum, and Furrever Token (FURR)’s Presale Appeal appeared first on Crypto News Land.

Ethereum’s spot premium reaches peak since October 2023, signaling heightened investor interest.

Analysis suggests factors like positive news and price expectations drive Ethereum’s spot premium.

Ethereum’s spot premium surge aligns with a strengthening price, boosting confidence among investors.

The crypto realm is once again buzzing with excitement as Ethereum (ETH), a titan in the digital currency domain, witnesses a surge in its spot premium, marking a milestone not seen since October 2023. This surge signals a positive turn for crypto enthusiasts, promising lucrative opportunities in the ever-volatile market.

According to insights from esteemed crypto analyst Daan Crypto Trades, Ethereum’s spot premium has skyrocketed, reaching its zenith since October last year. The spot premium, a metric gauging the variance between Ethereum’s spot exchange price and its futures exchange price, serves as a barometer of demand in the market. With Ethereum’s spot premium soaring, it’s evident that the appetite for this digital asset is on the rise.

$ETH Spot premium the biggest it has been since October last year.Meanwhile, price is about 2x higher so that shows some solid progress.Move up -> Consolidate -> Data reset -> Repeat pic.twitter.com/wPe0ffAH01

— Daan Crypto Trades (@DaanCrypto) April 23, 2024

The surge in spot premium can be attributed to a myriad of factors, including a surge in investor interest, favorable news surrounding Ethereum, and bullish expectations regarding its future trajectory. Despite the market’s ebbs and flows, Ethereum’s resilience shines through, with its current trading price pegged at $3,206 and a daily trading volume of $10.57 billion, boasting a market capitalization of $392 billion.

This upward momentum not only underscores Ethereum’s resilience but also instills confidence in investors and traders alike. The alignment of spot premium surge with a strengthening price paints a promising picture for Ethereum’s future trajectory. Such developments serve as a beacon of hope for Ethereum holders, hinting at a bullish trend on the horizon.

While spot premium captures the spotlight, Ethereum Open Interest emerges as another crucial indicator. Despite trading at relatively subdued levels recently, Ethereum Open Interest has mirrored Ethereum’s price movements. The correlation suggests that as Open Interest surges, Ethereum’s price tends to follow suit, highlighting the interplay between market activity and asset valuation.

The confluence of Ethereum’s spot premium surge, price resilience, and Open Interest dynamics paints a rosy picture for the Ethereum ecosystem. Amidst the positivity, scrutiny of Ethereum’s Open Interest levels beckons, offering insights into potential market volatility.

As Ethereum continues its upward trajectory, propelled by a surge in spot premium and bolstered by market resilience, the future looks promising for crypto aficionados. With Ethereum poised to maintain its upward momentum, investors stand to reap the rewards of this burgeoning digital frontier.

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The post How Does Ethereum’s Spot Premium Surge Impact Investors? appeared first on Crypto News Land.

Glassnode analysts foresee Bitcoin’s price soaring to $72,000, citing strong support at the 50-day EMA.

Short-term EMA signals buying trend, long-term indicates selling, crucial for market assessment.

Investors advised to seize short-term BTC dips amid broader bullish trend for maximum gains.

The recent roller-coaster ride of Bitcoin’s price has left many investors anxious, but according to Glassnode analysts, there’s a silver lining on the horizon. In their latest analysis, these experts shed light on the potential rebound of the world’s leading cryptocurrency, projecting a staggering surge to $72,000.

Key to this optimistic outlook is the 50-day Exponential Moving Average (EMA), currently positioned at $62,000, which Glassnode identifies as a pivotal support level. This EMA serves as a crucial indicator of market sentiment, suggesting robust buying activity and instilling confidence among investors.

The #Crypto Bull Market Continues. "OTHERS" follows Crypto excl. the largest 10 Cryptos. Observe that we in early 2021 had a strong correction. We believe that was a wave 4.We now have a similar strong decline. More upside is coming. This index and our Fibonacci levels… pic.twitter.com/qKtIOSXneP

— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) April 22, 2024

Crucially, Glassnode’s analysis distinguishes between short-term and long-term EMAs, offering valuable insights into market dynamics. While the short-term EMA signals a buying trend, the long-term EMA hints at a selling trend, providing a nuanced understanding of current conditions.

Despite recent volatility, Bitcoin’s market appears to be stabilizing after a remarkable 92% surge over six weeks. For investors navigating this landscape, Glassnode’s founders advocate a strategic approach, advising to seize short-term dips as prime buying opportunities.

This recommendation holds particular relevance amidst the ongoing consolidation phase within Bitcoin’s broader bullish trajectory. By adopting a calculated strategy, investors can position themselves advantageously to capitalize on the anticipated price rebound.

As of April 24, Bitcoin was trading at $66,673, marking a modest increase of 0.76% over the previous day and a noteworthy gain of 4.80% over the week. These figures align closely with Glassnode’s analytical insights, reinforcing confidence in their projections.

Beyond Bitcoin, Glassnode’s analysis extends to the broader crypto market, highlighting intriguing trends and patterns. Notably, they point to the potential of “OTHERS,” cryptocurrencies beyond the top 10, indicating a strong uptrend with promising growth prospects.

This assessment comes amidst heightened volatility following the recent Bitcoin Halving event, which saw miner block subsidy rewards halved. Drawing parallels with previous market cycles, Glassnode identifies the current phase as a consolidation period, poised to precede a resumption of the upward trend.

Glassnode’s analysis offers a beacon of hope for Bitcoin and the wider crypto industry. Despite challenges and uncertainties, their insights underscore the resilience and potential of digital assets. As investors navigate this ever-evolving landscape, strategic decisions guided by expert analysis can pave the way for future success.

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The post Bitcoin’s Future: Glassnode Analysts’ Bold $72,000 Price Prediction appeared first on Crypto News Land.

zug, SWITZERLAND, April 25th, 2024, Chainwire

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Onramps from fiat to crypto have historically been one of the biggest pain points with regard to DeFi accessibility. Thanks to the tireless builders who identified this issue early on, and have been working with regulators, credit card issuers and other payment infrastructure providers, the high barriers to crypto entry are about to be a thing of the past. 

In November of last year, Velocity Labs began talks with Ramp, the leading onramp infrastructure provider for web3. The objective was simple: maximize Asset Hub’s accessibility, and to get it to its full potential. 

Asset Hub is a system parachain considered the “home base” of assets in the Polkadot blockspace ecosystem. It enables the creation, management, and use of assets in the Polkadot network. As a system parachain, it has a trusted relationship with the Polkadot Relay Chain, allowing for porting of DOT from the Relay Chain to Asset Hub. Asset Hub is crucial for the emission of tokens similar to ERC-20 (the Ethereum standard powering DeFi on that chain) and the imminent and future resurgence of DeFi on Polkadot. However, Asset Hub has many constraints, particularly around UX and DevEx. Recognizing the potential of Asset Hub and its importance, Velocity has been working tirelessly to address these limitations.

Ramp is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries with a streamlined and smooth experience in converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more. 

About Velocity Labs

Velocity Labs is a DeFi and infrastructure development company founded with the objective of transforming the Polkadot blockspace ecosystem into a thriving hub for DeFi innovation. A team formed by Polkadot veterans and DeFi experts, Velocity Labs is committed to building critical market infrastructure and tooling to unlock Polkadot’s full potential.

More information on velocitylabs.org

Velocity Labs actively searching for builders to join us in creating the most efficient and resilient ecosystem for DeFi on Polkadot. If you think this is you, please get in touch with us through this form.

Contact

ops leadMARIA PAULA FERNANDEZVelocity Labs AGmp@velocitylabs.org

The post Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support appeared first on Crypto News Land.

Ondo Finance integrates real assets and blockchain, offering inclusive financial solutions.

MANTRA prioritizes security, compliance, and innovation, backed by significant funding.

Pendle pioneers yield trading with impressive milestones, attracting DeFi enthusiasts.

In the dynamic realm of digital finance, the landscape of crypto assets expands beyond the traditional giants like Bitcoin and Ethereum. Real world assets (RWA), tethered to tangible assets, emerge as a beacon of stability in the volatile crypto market. Here, we unveil the top 5 real world crypto assets based on their robust market capitalization.

1. Ondo (ONDO) – Market Cap: $1.2 Billion

Ondo Finance pioneers the fusion of real assets with blockchain technology, democratizing access to financial services. Collaborating with Noble, Ondo brings tokenized US Treasury offerings to the Cosmos ecosystem, promising a yield of 5.2%.

2. MANTRA (OM) – Market Cap: $611.7 Million

MANTRA, a security-focused Layer-1 blockchain, secures institutional trust with its compliance-driven approach. Backed by a substantial $11 million funding round, MANTRA embarks on fostering blockchain innovation with a new incubation program at the Dubai World Trade Center.

3. Pendle (PENDLE) – Market Cap: $592.4 Million

Pioneering yield trading, Pendle creates a dynamic ecosystem for yield-generating tokens. With a total value locked (TVL) of $4 billion and a recent trading volume surge to $10 billion, Pendle solidifies its position as a premier platform for DeFi enthusiasts.

4. XDC Network (XDC) – Market Cap: $537.2 Million

Formerly known as XinFin Network, XDC Network combines the strengths of public and private blockchains. With a focus on efficient financial services, XDC Network bridges the gap between transparency and security in the digital finance landscape.

5. Polymesh (POLYX) – Market Cap: $493 Million

Polymesh stands as an institutional-grade blockchain, redefining the realm of regulated assets. Introducing Polymesh Private at the Digital Asset Summit 2024, the platform pioneers advancements in governance, compliance, and confidentiality.

As investors seek stability and innovation in the crypto sphere, these 5 real world crypto assets present compelling opportunities for growth and diversification.

As the crypto industry continues to evolve, real world crypto assets are poised to play a pivotal role in bridging traditional finance with blockchain technology. With increasing adoption and regulatory clarity, the future holds promise for real world assets to reshape the financial landscape, offering new avenues for investment and economic empowerment.

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The post Top 5 Real World Crypto Assets Defining Market Cap Success appeared first on Crypto News Land.

The popularity of the BEFE coin has been getting better with every passing day and gradually becoming the best meme coin option to invest in. This is because the price has been growing incredibly well in the past weeks and it is expected that this growth will keep holding for the next months. Many crypto speculators have been showing optimism about the future of the meme coin with some professional crypto speculators now calling it the “king of meme coin”. 

It makes sense to see all this growing interest in the BEFE meme coin because of the ROI investors have been getting in the last 6 weeks and the future potential it is currently showing to do better. But, the question on the lips of most crypto enthusiasts is “What is fueling the optimism for BEFE coin price growth?” A couple of factors are currently contributing to the optimism, but the major factor that most speculators are talking about is community engagement.

In this article, we will attempt to talk about how the BEFE Community has been driving a change in the meme coin market and placing it ahead of everyone else. We will also look into other factors you need to know about the meme coin that could be seeing the meme coin cross the $1 mark in the coming weeks.

BEFE Community as an Agent of Growth in the Meme Coin Market

The BEFE community is a topic every crypto trader, investor, and speculator has been talking about in the last few months since the launch of the BEFE coin. This is a community that is posing to be unrelenting in its drive to see the BEFE coin become the king of all other meme coins. From Twitter to Discord, through WhatsApp to Facebook, there has been growing praise for BEFE, and this is primarily driven by the continuously expanding BEFE coin community. 

The community has also been drawing inspiration from the BEFE coin team that keeps engaging the community with humor content to keep it active. These two reliance on each other have been a catalyst driving the price of BEFE up in the past months till now and looking like something that could overtake every other project on the Blockchain.

A Future Growth that is Secured with Growing Reach

The BEFE coin is reaching everyone across diverse demographics through different exchanges. Using other exchanges to reach more uses is a technique that has been seen in BEFE crossing boundaries and increasing demand for the last 6 weeks. 

The BEFE coin team is currently working on getting the BEFE coin listed on more exchanges which could see the meme coin price grow even better in the future.

Learn more about the project from the BEFE coin official website.

The post What’s Fueling the Optimism for BEFE Coin Price Growth? appeared first on Crypto News Land.

Samourai Wallet’s co-founders face charges including money laundering conspiracy, with possible prison terms of up to 20 years.

Authorities allege the service processed over $2 billion in illicit transactions, leading to its legal troubles.

The crackdown signals tighter U.S. regulations on crypto operations, reflecting a broader trend toward transparency and compliance.

Samourai Wallet, a prominent cryptocurrency mixer, is at the centre of a legal storm as U.S. authorities have arrested its co-founders, Keonne Rodriguez and William Hill. The charges include conspiracy to commit money laundering and operating an unlicensed money-transmitting business. 

Arrested in Pennsylvania and Portugal, Samourai Wallet CEO Keonne Rodriguez and Chief Technology Officer William Hill are each charged with one count of conspiracy to commit money laundering, which carries a maximum 20-year prison sentence, and one count of conspiracy to operate an unlicensed money-transmitting business, which carries a maximum five-year prison sentence.

U.S. federal prosecutors on Wednesday charged coin mixer Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering. Rodriguez was arrested in Pennsylvania; Hill was arrested in Portugal and is expected to be extradited to the…

— Wu Blockchain (@WuBlockchain) April 25, 2024

The crackdown on Samourai Wallet follows accusations that the service processed over $2 billion in illicit transactions and facilitated more than $100 million in money laundering. These transactions reportedly included funds from dark web markets and various fraud schemes. The U.S. Department of Justice, the Internal Revenue Service, and the Federal Bureau of Investigation led the inquiry.

The immediate consequences for Samourai Wallet included the seizure of its servers in Iceland and a prohibition on app downloads from the Google Play Store, impacting its more than 100,000 users.

Regulatory Response and Future Implications

This incident is part of a broader regulatory tightening around cryptocurrency operations in the U.S. The Treasury Department’s Office of Foreign Asset Control previously sanctioned another crypto mixer, Blender.io, and later included Tornado Cash in its list of Specially Designated Nationals. These actions highlight the government’s increasing scrutiny of crypto platforms, especially those that may obscure the financial trails of potentially illicit funds.

In addition to legal actions against individual operators, the Financial Crimes Enforcement Network proposed recognizing crypto mixers as a primary concern in money laundering. This proposal came after various security concerns, including international conflicts and cyberattacks. 

The case against Samourai Wallet signals potential shifts in how digital financial services are governed in the U.S. Moving forward, the crypto industry may see increased demands for transparency and compliance, reshaping the landscape for all digital finance operators.

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Bitgert Coin has been seeing a massive increase in its price continuously regardless of the happenings in the crypto market. It is known that it’s exchange expansion has just taken place and this has led to the awareness of its features to a broader audience in the crypto space.

However, experts are still looking at it as they see a price growth in its coin. They have forecasted it to surge high in its price this week. This is a pointer that investors will now rush in to get hold of it so as to be a part of its price rally. 

Bitgert coin as we know is one of the emerging cryptocurrencies of today and is rapidly gaining popularity for a variety of reasons. recollecting its imaginative technique for the blockchain innovation, perpetual climb in income among investors.

Experts predict an unavoidable rise in the value of the coin as a result of Bitgert exchange rogress, which has clearly stood out in the marketplace. 

Bitgert Coin Continues Its Unending Rise

Investors that purchased the Bitgert crypto could have taken the best action in 2024. The project’s price has been rising in recent months, according to news about it. Bitgert keeps demonstrating a bullish signal and this is what we will see in the coming weeks as experts have analyzed.

Numerous investors looking to purchase altcoins with demonstrated utility have been strongly enticed by news of the Bitgert exchange expansion that has led to its price surge. In 2022, fresh insight about the expansion of a concentrated trade and a blockchain without gas fees further impelled this crypto’s promotion and moved investors to purchase it.

As we hear insight about their send off, expect consistent benefits for investors who purchased the bitgert coin early. When this revolutionary cryptocurrency with no gas costs reaches new heights, it will be big news for many. However, the news will be about profits for crypto investors.

BITGERT Coin Looking To  A Growth In Price 

Bitgert Coin is spreading the word about itself in the crypto space as its commitment to advancements and improvement keeps on being its drive. It is continually molding itself for a seriously enduring convention or blockchain framework in the crypto space. This has continuously boosted investors’ enthusiasm for Bitgert Coin’s potential outcomes in the long run.

We can see that numerous factors appear to support the positive trend of Bitgert coin. The exchange upgrade’s features and utilities, in addition to the recognition it will bring. This is a telling point that the week will be bullish for bitgert coin.

Conclusion 

Bitgert’s coin has been forecasted by experts to see a massive growth in its price. This is very much feasible seeing the development it has achieved in its exchange in the past weeks. It’s best for investors to take a hold of this opportunity and invest now.

Check out their website for more info.

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Planet-X launches a unique treasure hunter shooter on Immutable zkEVM.

Backed by Polygon, the game merges F2P gameplay with real-world prizes.

Partnerships with influencers, 250k sign-ups for upcoming global launch.

Planet-X, an innovative gaming studio, is gearing up to unveil its latest creation on Immutable zkEVM, with power backing from Polygon. Founded in 2019, the studio secured $4.5 million in private funding, laying the groundwork for its highly anticipated free-to-play (F2P) mobile treasure hunter shooter.

@play_planetx is set to launch on Immutable zkEVM, powered by @0xPolygon! In 2019, their studio was privately funded with $4.5M in anticipation of their F2P mobile treasure hunter shooter. Their team is filled with Sandbox, EA, Disney, and Unity talent.… pic.twitter.com/FRjugIX0ET

— Immutable (@Immutable) April 24, 2024

The team at Planet-X boasts a wealth of talent from renowned companies such as Sandbox, EA, Disney, and Unity, bringing a wealth of expertise to their latest venture. Their upcoming game offers a unique twist, combining F2P gameplay with real-world prizes through live events known as ‘Hunts.’

This groundbreaking concept merges the digital and physical realms, promising players an experience unlike any other. With a commitment to innovation, Planet-X has chosen to build its platform on Immutable, leveraging its cutting-edge technology and Web3 vision.

Already making waves in the gaming community, Planet-X’s closed beta has attracted a staggering 250,000 early sign-ups. The studio has also forged partnerships with influential gamers, including the likes of Faze Blaze, with more high-profile collaborations in the pipeline for their global launch.

Commenting on the partnership with Immutable, Planet-X’s Founder and CEO, James, expressed confidence in the decision. “Deciding to partner with Immutable became the obvious choice. Great tech, amazing team, and a Web3 vision that aligns deeply with my team and our mission ahead. Let’s do this,” James remarked, highlighting the shared vision driving the collaboration.

As anticipation mounts for the official launch of Planet-X’s treasure hunter shooter, gamers worldwide eagerly await the opportunity to immerse themselves in this groundbreaking gaming experience, where digital entertainment meets real-world rewards.

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The post Powered by Polygon, Planet-X Is Set to Launch on Immutable zkEVM, GameFi Narrative Bullish appeared first on Crypto News Land.

The cryptocurrency market has the potential to reach a tremendous point this year as some coins have the possibility of having high values in April. This article aims to explore the potential value appreciation of prominent cryptocurrencies including Solana (SOL), Retik Finance (RETIK), and Shiba Inu (SHIB). The insights provided herein will serve as a guide for investors making decisions in April.

Solana (SOL); a coin for opportunity 

Solana (SOL) emerged as a blockchain platform in March 2022, tailored to support smart contracts and decentralized applications (dApps) with remarkable efficiency. Positioned as a blockchain with widespread utility, Solana caters to various use cases including banking, non-fungible tokens (NFTs), payments, and gaming, leveraging its high-speed network. With an ethos of openness, decentralization, and interoperability, Solana operates as a unified global state system. While Solana has recently gained significant traction and acceptance, it is not a nascent cryptocurrency. Investors have been drawn to its rapid ascent, which has shed light on the project’s exceptional functionality and user-friendliness. Technical analysis projects the 2024 Solana price to fluctuate between a minimum of $1.53 and a maximum of $43.18, with an anticipated average trade price of approximately $87.89. Cryptocurrency experts forecast an average Solana price of $412.18 in April 2024, considering the cryptocurrency’s value trajectory since the beginning of 2023. Expected price ranges lie between $189.46 and $634.89, showcasing both potential lows and highs for the cryptocurrency.

Redefining DeFi: Retik Finance’s Journey Towards Market Dominance

Retik Finance (RETIK) emerges as a formidable contender poised to surpass competitors like Solana and Shiba Inu within the ever-evolving cryptocurrency landscape, thanks to its distinctive features embedded within the decentralized financial ecosystem. Despite the dynamic fluctuations in cryptocurrency market rates, Retik Finance stands out with its unique attributes, positioning itself for success across various domains. Leveraging its innovative solutions, Retik Finance aims to address the evolving needs of customers in the digital economy, capitalizing on its strengths to navigate through market changes adeptly. With groundbreaking solutions reshaping the decentralized finance sector, Retik Finance assumes a leading role as the demand for decentralized financial services burgeons. The recent conclusion of Retik Finance’s presale rounds witnessed a surge in whale wallets and investor interest, underscoring significant trust and confidence in the project. Raising an impressive $32.05 million during its presale phase underscores the widespread acceptance and conviction in Retik Finance’s vision, setting it apart from other contenders in the cryptocurrency realm. Given Retik’s distinctive attributes and market acceptance, analysts and experts foresee substantial growth potential for Retik Finance post-launch, with optimistic projections for 2024. Anticipated price targets ranging from $10 to $50 per token indicate a growth trajectory exceeding 20,000% post-launch, positioning Retik Finance as a formidable competitor against other cryptocurrencies by April 2, 2024.

Unleashing Shiba Inu (SHIB): The Rise of the ‘Dogecoin Killer’ in Cryptocurrency

Shiba Inu, a cryptocurrency that burst onto the crypto scene in 2020 as a mere meme coin, often dubbed the “Dogecoin Killer,” draws inspiration from its predecessor, Dogecoin, which gained immense popularity after its introduction in 2013. Shiba Inu was conceived as a playful parody of Dogecoin, leveraging the momentum of the meme cryptocurrency phenomenon. The ShibArmy, Shiba Inu’s dedicated community, fuels its resilience and influence within the crypto sphere. With an active and committed base, the ShibArmy continually advocates for SHIB, driving interest and potentially sparking price surges. Furthermore, concerted efforts by developers to fortify the ecosystem underscore its advancement. Initiatives like token burning and the establishment of ShibaSwap, a Decentralized Exchange (DEX), exemplify a strategic approach toward long-term sustainability and value generation. Token burning mechanisms not only reduce the total supply but also signify a commitment to cultivating a resilient ecosystem. These strategic manoeuvres position SHIB as a significant player in the cryptocurrency landscape, signalling maturity within the Shiba Inu ecosystem and paving the way for broader acceptance and sustained growth in the future.

Conclusion

The cryptocurrency market is expected to develop significantly, and several coins, such as Solana (SOL), Retik Finance, and Shiba Inu, appear to have a major gain in value coming up in April.Retik Finance’s distinctive qualities and Solana’s adaptability set them up for success, while Shiba Inu’s strategic initiatives and committed community bolster its position. These observations offer insightful advice to investors navigating the ever-changing cryptocurrency scene in the upcoming months.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: www.twitter.com/retikfinance

Telegram: www.t.me/retikfinance

The post Solana Price Prediction: Will SOL Hit a New ATH in April? Retik Finance (RETIK) and Shiba Inu (SHIB) to Perform Better in 2024 appeared first on Crypto News Land.

Grayscale persists in seeking SEC approval for Ethereum Spot ETF despite regulatory setbacks.

S3 prospectus filed signals determination to convert Ethereum Trust into a spot ETH ETF.

Grayscale’s proactive moves include Form 19b-4 filing by NYSE Arca, aiming for ETHE listing.

Grayscale, a leading name in crypto asset management, is on a determined journey to secure approval for its Ethereum Spot ETF from the U.S. Securities and Exchange Commission (SEC). Despite facing delays in decision-making, the company remains undeterred, demonstrating a strategic resilience that underscores its commitment to pioneering innovations in the crypto investment landscape.

The recent filing of an S3 prospectus by Grayscale to convert its Ethereum Trust into a spot ETH ETF marks a significant move in the company’s strategy. Unlike other issuers, Grayscale’s Ethereum Trust is already registered with the Commission, streamlining the process and bypassing the need for S-1 filings. This proactive step positions Grayscale with all the necessary documentation for the SEC’s consideration, reflecting the company’s thorough approach to regulatory compliance.

Grayscale files S-3 for spot ether ETF… Issuers clearly aren't throwing in the towel on this. pic.twitter.com/X7To58tdO2

— Nate Geraci (@NateGeraci) April 23, 2024

Furthermore, Grayscale’s efforts extend beyond the Ethereum Spot ETF, with the filing of an S-1 for a mini Ethereum ETF, denoted by the ticker “ETH.” This move follows the company’s earlier filing for a mini Bitcoin ETF, still awaiting SEC approval under the ticker “BTC.” The ambition to diversify investment options underscores Grayscale’s commitment to meeting the evolving needs of investors in the rapidly expanding crypto market.

In parallel, Grayscale is actively pursuing the listing of its Ethereum Trust on the NYSE Arca exchange as an Ethereum Spot ETF. This endeavor includes a Form 19b-4 filing by NYSE Arca, complemented by Grayscale’s Prospectus S-3 filing. If approved, Ethereum Trust shares will trade under the ticker symbol “ETHE,” with the share issuance contingent on the effectiveness of the NYSE Arca application and the registration of the S-3 Prospectus.

However, the SEC’s decision to delay rulings on Grayscale’s applications, along with those of other industry players, reflects a cautious approach to regulating cryptocurrency-based financial products. This delay allows the SEC additional time to assess the potential risks and benefits associated with these products, ensuring thorough consideration before reaching a final decision.

While optimism persists among some observers, citing parallels with the journey of Bitcoin ETFs, others express concerns over unresolved issues, particularly surrounding Ethereum staking. These complexities pose challenges that could potentially hinder approval, prompting a range of speculations and interpretations regarding the SEC’s stance.

Amidst uncertainties, the future of Grayscale in the crypto industry appears promising. If approved, Grayscale’s Ethereum Spot ETF would mark a revolutionary milestone, attracting significant capital inflows into the Ethereum market and further legitimizing cryptocurrency as an investment asset class. Despite challenges and setbacks, Grayscale’s persistence underscores its pivotal role in shaping the future of crypto investment, heralding a new era of possibilities and opportunities for investors worldwide.

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Tangem’s integration of Shiba Inu payments responds to high demand, with 5,000 specialized wallets sold in a year.

Purchasing a Tangem Wallet with SHIB is simplified through NOWPayments, ensuring smooth and secure transactions.

Tangem’s support for Ethereum and BNB Smart Chain networks broadens accessibility for diverse crypto users.

Tangem, a prominent provider of crypto hardware wallets, has announced the addition of Shiba Inu (SHIB) to its list of accepted payment methods. This addition allows customers to purchase the Tangem Wallet using SHIB, enhancing the flexibility of crypto transactions.

Buy Tangem Wallet with crypto We're thrilled to announce that we now support payment in selected cryptocurrencies including BTC, USDT, KAS, SOL, and SHIB.You can now buy a crypto cold wallet with your crypto and securely store your assets in it. More details are in our… pic.twitter.com/QEKsbhYX57

— Tangem (@Tangem) April 23, 2024

The move comes just over a year after Tangem launched a Shiba Inu-themed card-shaped wallet, which caught the interest of the Shiba Inu community. The release led to a swift preorder of 5,000 units. Tangem began distributing these specialized wallets in July 2023, marking a significant milestone in their product offerings.

As an additional gesture, Tangem provided a 10% discount to those who had pre-ordered, compensating for any delays in the shipping process. In a move to further embrace the Shiba Inu ecosystem, Tangem integrated with Shibarium, Shiba Inu’s layer-2 blockchain, in February. 

Easy Steps to Purchase with SHIB

Purchasing a Tangem Wallet using Shiba Inu is easy, users can navigate to Tangem’s official website, select a suitable wallet set, and proceed to payment using the crypto payment option. The process involves entering personal details, selecting Shiba Inu from the available currencies, and completing the transaction via NOWPayments. This system automatically ensures a smooth and secure transaction by converting the total cost into the SHIB equivalent.

Moreover, Tangem supports transactions on the Ethereum and BNB Smart Chain networks, catering to a diverse customer base. This expansion enhances convenience and reinforces Tangem’s commitment to the evolving needs of the global cryptocurrency community.

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The post Tangem Wallet Expands Payment Options to Include Shiba Inu appeared first on Crypto News Land.

Analyst Ash Crypto predicts Bitcoin surge amid bullish market signals.

Bitcoin ETFs launch in Hong Kong, whale accumulation spikes.

Nubank enables Bitcoin withdrawals, Grayscale transfers to Coinbase.

Renowned bitcoin and crypto analyst Ash Crypto has outlined compelling reasons why the current bull cycle could propel Bitcoin to unprecedented heights. Following his recent insights into Bitcoin’s supply shock effect, Ash Crypto has now shared additional observations that suggest a bullish trajectory for the cryptocurrency market.

In a series of breaking announcements, Ash Crypto highlights significant developments in the crypto space. Firstly, Bitcoin and Ethereum spot exchange-traded funds (ETFs) are set to commence trading in Hong Kong on April 30, signaling massive inflows into the market. Concurrently, Bitfinex’s Bitcoin long positions are skyrocketing, indicating a surge in bullish sentiment among whales.

BREAKINGBRAZIL’S NUBANK HAVE ENABLEDBITCOIN WITHDRAWALS FOR USERS.BULLISH FOR ADOPTION pic.twitter.com/puvJFcm8ms

— Ash Crypto (@Ashcryptoreal) April 24, 2024

Moreover, Brazil’s Nubank has enabled Bitcoin withdrawals for users, signaling increased adoption and mainstream acceptance of cryptocurrencies. Additionally, data reveals that Bitcoin whales holding sizable amounts of BTC have accumulated a staggering 266,000 BTC, valued at $17.8 billion, in just four months. This substantial accumulation by whales underscores a strong bullish momentum in the market.

BREAKING GRAYSCALE HAS TRANSFERRED 2373 BTC WORTH $156 MILLION TO COINBASE pic.twitter.com/YWOOItTU6C

— Ash Crypto (@Ashcryptoreal) April 24, 2024

Furthermore, Grayscale, a prominent digital asset management firm, has transferred a significant amount of Bitcoin to Coinbase, totaling 2373 BTC worth $156 million. These transactions further signify institutional involvement and confidence in Bitcoin’s future prospects.

Ash Crypto remains optimistic amidst these bullish indicators, predicting a new all-time high (ATH) for Bitcoin in the near future. He advises the community to remain patient during correction phases and hold their assets steadfastly, anticipating significant gains in the coming months.

With market sentiment overwhelmingly positive and institutional interest on the rise, Ash Crypto’s insights reinforce the belief in Bitcoin’s potential to reach unprecedented price levels, ushering in a new era of growth and prosperity for cryptocurrency enthusiasts worldwide.

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The post Bitcoin Price Surge Imminent Amidst Bullish Market Signals From Grayscale, Nubank, and Whale Activity appeared first on Crypto News Land.

VeChain’s VeBetterDAO promotes sustainability with diverse initiatives and rewards.

Users engage in eco-friendly actions, earning rewards through VeBetterDAO initiatives.

VeChain fosters sustainable habits with VeBetterDAO, driving positive global impact.

VeChain, a leading blockchain platform, is revolutionizing the way sustainable behavior is rewarded through its VeBetterDAO initiative. Designed to incentivize positive daily decisions, VeBetterDAO offers a range of mini initiatives aimed at creating a big impact on individuals and the environment.

We want to reward people making positive daily decisions for themselves and the world – that’s why we launched our incentive-powered platform, VeBetterDAO!With a unique dApp/DAO structure, it offers ways to improve your personal world in a number of ways. pic.twitter.com/aqTeiRHGUr

— vechain (@vechainofficial) April 24, 2024

At the core of VeBetterDAO is its unique dApp/DAO structure, providing users with various opportunities to enhance their personal world while contributing to global sustainability efforts. To participate, users are encouraged to download the VeWorld wallet, enabling seamless access to VeBetterDAO’s diverse range of dApps.

One such initiative is Mugshot, which encourages users to showcase their reusable coffee mugs, promoting sustainability in daily habits. By submitting a photo, users engage with Mugshot‘s AI barista, earning rewards in the form of B3TR tokens.

Another initiative, Cleanify, incentivizes users to clean up their local environments by placing trash where it belongs. Users can participate through the DailyActions tab or organize community campaigns, fostering collective action for a cleaner world.

The Non Fungible Book Club offers a sustainable alternative to traditional reading methods by streaming audiobook content, reducing waste associated with physical book production. Similarly, the Green Ambassador Challenge gamifies sustainable learning, encouraging users to become advocates for environmental knowledge.

Meanwhile, Vyvo, an integration of blockchain, smartwatches, and AI, empowers users to manage their health effectively while earning rewards for their wellness efforts. With VeBetterDAO, VeChain is making positive contributions with easy daily choices. As VeChain continues to innovate, the possibilities for positive impact are limitless.

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The post VeChain’s VeBetterDAO Encourages Sustainable Behavior with Innovative Initiatives appeared first on Crypto News Land.

SHIB has surged over 2% in the last 24 hours, reaching a trading price of $0.00002618.

SHIB’s burn rate has skyrocketed by approximately 2200% in the same period, eliminating 1.84 million tokens from circulation.

Technical indicators signal a bullish trend for SHIB, with potential resistance at $0.000027 and support at $0.000026.

Technical indicators are signaling a bullish trend for Shiba Inu (SHIB) as the meme coin experiences a surge in market value. Over the last 24 hours, SHIB has witnessed a remarkable increase of over 2%, reaching a trading price of $0.00002618. 

One of the key drivers of this bullish trend is the notable rise in SHIB’s burn rate, which has skyrocketed by approximately 2200% over the past 24 hours. This surge in burn rate, marked by the elimination of 1.84 million SHIB tokens from circulation, has injected enthusiasm among investors and traders within the cryptocurrency sector.

The current market activity suggests a potential for further increases in SHIB‘s value. Technical analysis reveals promising indicators, with the Relative Strength Index (RSI) at a balanced 53, indicating a neutral trend. The Average Directional Index (ADX) stands at 23.54, highlighting the robustness of the current trend.

Furthermore, the Moving Average Convergence Divergence (MACD) signals a bullish phase, with the MACD line surpassing the signal line. An expanding histogram and green candlestick on the chart further affirm positive market sentiment for SHIB in the short term.

SHIB’s price is currently facing resistance at $0.000027, with the potential to break through and reach $0.00005, setting a trajectory toward the sought-after $0.001 mark. However, a decline could bring it down to support levels at $0.000026 or even $0.000025. Increased selling pressure might push its value below $0.000009, indicating a bearish trend for the meme coin.

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Shiba Surges While Whales Fuel Bullish Momentum: What’s Next?

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