Powell’s Influence on Bitcoin Halving Read CoinChapter.com on Google News

NOIDA (CoinChapter.com)—Federal Reserve Chair Jerome Powell’s influence on Bitcoin and the halving event coming up could have a ripple effect for investors. Powell has signaled that the policy-making body will likely maintain higher interest rates for longer than anticipated.

The halving event reduces the reward for mining new Bitcoin blocks by half, traditionally triggering a surge in Bitcoin’s price due to a decrease in supply. However, Powell’s commitment to high rates to combat persistent inflation poses a nuanced challenge to this expected bull run and Powell’s influence on the Bitcoin halving event may be felt in a multitude of ways.

Moreover, the general market consensus on Bitcoin price action post-halving remains milder than usual, owing to several bearish cues working against the token.

Interest Rates’ Influence on Bitcoin Halving

The Fed chair stated that the central bank could keep rates steady for “as long as needed.”

Higher interest rates benefit ‘safer‘ assets such as US Treasury bonds, attracting investors away from riskier assets like cryptocurrencies. With Powell indicating a continuation of high rates to address inflation concerns, the impact of the upcoming halving event could be muted.

The US economy’s robust performance, marked by strong job growth and retail sales, suggests it might withstand higher interest rates without significant downturns. As such, the previous predictions of three rate cuts in 2024 seem a distant dream now.

BTC price drop after Powell’s announcement could be bad for Bitcoin halving impact.

The economic strength, however, complicates the Federal Reserve‘s approach to controlling inflation, potentially leading to a prolonged period of higher rates. For Bitcoin, this could mean a dampened halving effect as the general investment climate favors less volatile assets.

Furthermore, several experts, including Arthur Hayes, have warned of a negative price action following the Bitcoin halving. This could make traders more cautious before entering the market.

While Jerome Powell’s stance on maintaining the current interest rates might not ‘kill‘ the Bitcoin halving excitement, it certainly introduces complex dynamics into the market. The interplay between Federal Reserve policies and the Bitcoin halving event could cause investors to be cautious.

BTC Price Plummets Following Powell’s Announcement

Meanwhile, after Powell’s announcement, the BTC price dropped below $60,000 for the first time since Feb. 2024. The long lower wicks on the recent daily price candles highlight the presence of bulls in the market, yet the BTC price has not started a rally.

The price action suggests that traders wait for the halving event to impact the market before entering it. On April 17, BTC started the day positively. The token reached a high near $64,600 before plummeting nearly 8% following Powell’s rain on the Bitcoin halving parade.

BTCUSD daily price chart with RSI. Source: Tradingview.com

The downtrend in BTC price is evidence of the impact of the Fed’s rate cut decision on the token’s price action. If Bitcoin price continues to decline, the token might drop to the 100-day EMA (blue wave) support near $58,000.

A breach of the immediate support level would mean Bitcoin price testing the support near $52,200 before recovering.

The RSI for Bitcoin remained comfortably neutral, at 39.39, leaving bulls plenty of room to rally before the momentum oscillator becomes overbought.

If traders can ignore Powell’s announcement and its potential impact on Bitcoin halving, the token will likely start rallying. In that context, the 20-day EMA (red wave) forms the first crucial resistance for the token near $66,300.

Breaking and consolidating above the immediate resistance could help BTC’s price rally to the resistance near $72,500.

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World Chain Unveiled

NAIROBI (Coinchapter.com) – Worldcoin, the identity-focused cryptocurrency startup founded by OpenAI CEO Sam Altman, has taken a significant step forward in its mission to “prioritize human users” with the launch of its new blockchain network, World Chain.

A snippet of Worldcoin post on X

Announced on April 17, 2024, World Chain aims to enhance efficiency, scalability, and real-world utility in Web3 applications. Worldcoin has rapidly expanded, creating over 10 million World IDs and completing 75 million transactions across 160 countries. The project has now unveiled its dedicated blockchain network to support this growth.

Blockspace for All Humans

The new World Chain network is poised to address the challenges faced by the broader Ethereum ecosystem. Worldcoin’s transactions currently account for around 44% of the OP Mainnet’s activity, often exceeding 80% during spikes. This has highlighted the need for a dedicated network to accommodate the project’s scalable growth.

According to Worldcoin, “World Chain is designed first and foremost to significantly increase capacity so new people can continue to join at scale, and existing users can enjoy faster, cheaper, and more reliable transactions.”

The integration of Worldcoin’s “Proof of Personhood” technology is a key feature of World Chain. This allows users to anonymously verify their addresses as real humans, ensuring that bots and automated transactions do not dominate the network’s resources. This, in turn, helps to maintain a healthy ecosystem and prioritize the needs of the everyday user.

The network will support both ETH and the WLD token for fee payment. This means verified Worldcoin users can immediately utilize their WLD grants for their chosen apps.

WLD/USD 1-day price chart. Source: CoinGenko

Worldcoin (WLD) is currently trading at $4.81, showing a 3.78% increase in the last 24 hours. This positive momentum comes shortly after the announcement of World Chain, the company’s new human-centric blockchain designed to boost efficiency and real-world Web3 applications. The news appears to have outweighed the impact of an earlier fine levied by Argentina against the company.

World Chain: Enhancing Human-Centric Blockchain Access

Tiago Sada, the head of operations at Worldcoin, explained the unique approach of World Chain. He emphasized the network’s human-centric focus, differentiating it from typical L2 solutions and the broader Ethereum ecosystem by prioritizing human users over bots. This prioritization addresses the common problem of bot congestion, which often sidelines human transactions.

“Typically, every account competes for block space, and since bots can operate faster and bid higher, human transactions often get sidelined,”

Sada noted.

In the coming months, Worldcoin plans to release a developer preview of World Chain, with a full launch expected later this summer. As the project continues to innovate and scale, the new blockchain network promises to empower human-centric applications and drive the broader adoption of Web3 technologies.

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MEW and WLD See Market Action

NAIROBI (Coinchapter.com) – Both MEW and WLD are trading with losses today. However, Cats in Dog (MEW) has begun to see some recovery following its listing on a major cryptocurrency exchange. OKX’s announcement of support for MEW sparked a surge in the token’s price initially. This news comes after MEW experienced a significant price drop during the recent Bitcoin correction, fueling the token’s rebound.

MEW Price Plummets, Whale Takes Advantage

During the latest Bitcoin correction, MEW experienced a significant price drop of over 52%, plummeting from $0.00402 to as low as $0.00189 over the weekend. However, a savvy whale recognized the opportunity and seized the moment, purchasing a staggering 479.6 million MEW on Sunday.

MEW/USD 1-day price chart. Source: TradingView

As MEW hovers around the $0.0061 price point, investors are advised to watch for a break below the rising wedge and the 0.618 Fib level to confirm a bearish outlook. A sustained move above these levels may negate the bearish scenario, possibly pushing prices towards the $0.00846719, a 1.618 Fib extension level.

Despite the volatility, MEW has managed to maintain its position. It is currently trading at $0.006152 and has a market capitalization of $546,811,102, ranking it as the 124th largest cryptocurrency.

Cats in Dog (MEW), a popular meme-inspired cryptocurrency, saw a remarkable price surge after being listed on one of the largest crypto exchanges, OKX. The announcement of the listing on Monday led to a 38.22% jump in MEW’s price before it retraced to the support zone of $0.00450 by the end of the day.

World Coin (WLD) Faces Legal Scrutiny in Argentina

Meanwhile, World Coin (WLD), the token associated with the Worldcoin protocol, has experienced a 4% decline within the past 24 hours, currently trading at $4.82. This price movement comes amid increasing legal scrutiny facing the Worldcoin project in recent months, particularly in Argentina.

Worldcoin (WLD) faces $1M fine by Argentina

Consumer protection organizations in Buenos Aires have found inconsistencies in Worldcoin’s handling of biometric data collected from local citizens. These include clauses in contracts that allow the company to suspend services without issuing refunds, thereby infringing upon consumer rights. Additionally, Worldcoin has been accused of failing to issue any statements prohibiting minors from registering on its platform.

As a result, Worldcoin is now facing a fine of over $1 million in Buenos Aires for allegedly incorporating unfair terms into its contracts, violating Argentina’s National Consumer Protection Law.

Worldcoin price chart. Source: CoinGenko

Beyond the legal challenges, the overall market correction has also impacted WLD’s performance. CoinGecko data reveals that WLD’s trading volume in the last 24 hours amounts to $319,113,250, indicating a decrease of 7.10% compared to the previous day. Additionally, WLD has witnessed a significant decline of over 58% from its all-time high of $11.74, which reached March 10.

In conclusion, the cryptocurrency market continues to be a dynamic and constantly evolving landscape, with both MEW and WLD experiencing notable price fluctuations and legal developments in recent times. As the industry matures, investors and enthusiasts will need to monitor the per closely.

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Bitcoin’s Bearish Cues Likely to Dash Hopes of a Rally Read CoinChapter.com on Google News

NOIDA (CoinChapter.com)— Bitcoin’s upcoming halving is the talk of the town, but Bitcoin’s bearish cues could upset traders’ predictions. Halving events have historically been a strong bullish cue for BTC price, and with the recent Bitcoin ATH still fresh in the market’s memory, traders anticipate a massive uptrend. However, a trifecta of indicators may point otherwise.

In a market where fortunes hang on fickle sentiment swings, Bitcoin’s halving might not result in the immediate rally that traders hoped for. Geopolitical, macroeconomic, and technical, the BTC price might be facing the complete trifecta of bearish cues.

The bearish cues in store for BTC might force the token to consolidate or even undergo a significant correction, according to crypto analysis X account ‘Stockmoney Lizards.’

The Crest of the Bearish Wave

A complex tapestry of interconnected bearish indicators could spell doom for Bitcoin prices.

Recent CPI data showed an uptick in core retail sales figures, signaling a resurgence of inflation. This could lead the Federal Reserve to consider interest rate hikes—a traditional pressure point for asset prices, including Bitcoin.

Analysts speculate that the rising CPI data could delay Fed rate cuts.

Moreover, BitMEX founder Arthur Hayes suggested to traders that the immediate effects of the halving might be negative. Hayes bases his argument on the idea that when most market participants expect a specific outcome, the opposite often happens due to market dynamics.

Additionally, geopolitical tensions between Iran and Israel inject a layer of unpredictability that historically precedes market downturns. Analysts speculated that the Iran-Israel tensions were responsible for the April 12 market crash, though the crash was likely more about the US tax season.

Stockmoney analysts noted that Iran’s attack on Israel last week did create tension in the market. However, the market has not “fully priced in” a possible counterattack from Israel. If (and when) that happens, the market is likely to drop.

Bitcoin’s Bearish Technicals And Cooling Institutional Interest

Stockmoney Lizard highlighted more of Bitcoin’s bearish cues in the cryptocurrency’s price charts.

BTC price has validated the triple-top technical pattern.

BTC price has formed a triple-top pattern that signals a formidable resistance level Bitcoin is struggling to break. Furthermore, Bitcoin price is also facing declining price momentum, evident from the lower highs on the Relative Strength Index (RSI).

Additionally, a broken and retested neckline of the triple top pattern highlights the bearish pressure challenging the Bitcoin price.

BTC has formed the Wykoff Distribution pattern

Furthermore, the current chart configuration mirrors a classic Wyckoff distribution pattern. This technical setup identifies potential price reversals and continuation through key phases of accumulation and distribution, hinting at a potential further downside.

A downtrend below the pattern’s support could drop the BTC price to around $50,000.

Moreover, a decline in inflows into Spot Bitcoin ETFs reflects institutional investors’ caution, suggesting the market participants are preparing for potential future market dips and setting a somber tone for Bitcoin’s short and medium-term outlook.

Bitcoin Price Still Has Some Bullish Beacons On The Horizon

Yet, all is not lost. Ironically, halving remains the strongest bullish cue for the BTC token. Historically, the halving event has thrice heralded significant upswings in value. Additionally, Bitcoin has a history of resilience, bouncing back from previous lows to achieve new highs.

Meanwhile, the OG crypto token has formed a bullish technical setup called the ‘Bull Flag pattern.’

Bull flags consist of a flag pole formed after a near-vertical rise in the crypto token’s prices. Assets in a strong uptrend often form the pattern.

BTC price formed a bullish pattern with a 61% upside target. Source: Tradingview.com

A period of consolidation succeeding the steep uptrend forms the flag of the pattern. Despite the strong vertical rally, the asset price does not drop as bulls maintain the buying pressure. As a result, the breakout from the flag pattern often results in a powerful uptrend.

The pattern is completed when the price breaks out of the flag area, continuing the previous upward trend. Traders calculate the price target of the breakout by adding the length of the flag pole to the breakout price level.

According to the rules of technical analysis, if the pattern is confirmed, the BTC price might rally over 61% to reach the theoretical price target near $101,400.

Moreover, the recent ETF approval in Hong Kong hints at a growing institutional and retail acceptance that could lead to increased demand.

Although big players are currently cautious, their interest in Bitcoin may not have waned completely, as evident from recent whale accumulations. These bullish signals, set against the backdrop of Bitcoin’s enduring narrative, might offer hope to those looking past the immediate turbulence.

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The crypto market has entered a period of uncertainty, with many established coins experiencing a recent downturn. Leading players like Binance Coin (BNB) and Solana (SOL) haven’t been spared, witnessing significant price drops. 

However, in the middle of this market downturn, ETFSwap (ETFS), a new token, is still living up to its hype and recording impressive gains, which could provide crypto investors with massive returns on their investments. 

Binance Coin’s (BNB) Future Remains Uncertain

Binance Coin (BNB) is a major player in the cryptocurrency market, offering users more than just discounted trading fees on the largest crypto exchange by market share, Binance. Binance Coin’s (BNB) utility, deflationary mechanism, and role in the Binance Smart Chain (BSC) decentralized governance have all contributed to its growth and success. However, Binance Coin (BNB) has encountered some stumbling blocks lately. 

One of the biggest challenges Binance Coin (BNB) faced recently was the increased regulatory scrutiny surrounding the Binance crypto exchange. Concerns about anti-money laundering (AML) and know-your-customer (KYC) compliance have disturbed the exchange in recent months. 

This has led to investigations and fines from regulatory bodies in various countries, including Nigeria.  Crypto investors are understandably worried about the potential impact of these regulatory hurdles on Binance’s operations and, by extension, the value of Binance Coin (BNB).

Solana (SOL) On A Downward Trend

Solana’s (SOL) price has recently been on a significant downward trend, with double-digit losses this past week. Data from CoinMarketCap shows that the crypto token is down over 23% in the last seven days.  

This decline is due to the congestion issues that Solana’s network is currently facing. Earlier in April, Solana (SOL) experienced massive network congestion, causing about 75% of transactions on the network to fail. This caused a huge disruption in the blockchain’s operations, raising concerns among crypto investors and the broader crypto community. 

The network congestion has also raised concerns about Solana experiencing another network outage sooner rather than later. With such negative developments surrounding the Solana (SOL) ecosystem, the possibility of a bullish recovery is uncertain at the moment. 

ETFSwap (ETFS) Continues Bullish Run

ETFSwap (ETFS) has continued its bullish run despite this market downturn, which is why it is gaining so much attention from crypto investors. Due to its bullish momentum, demand for ETFSwap (ETFS) has skyrocketed in recent times, with over 18.5 million tokens sold so far in stage 1 of the token’s presale.

With Binance Coin (BNB) and Solana (SOL) experiencing constant price fluctuations and various issues, all eyes are now on ETFSwap (ETFS), which is on its way to becoming one of the year’s best performers, doing better than many older cryptocurrencies. 

ETFS’ bullish outlook has been partly attributed to ETFSwap’s offerings. The Decentralized Finance (DeFi) platform aims to bridge the gap between traditional finance (TradFi) and DeFi. It allows users to trade exchange-traded funds (ETFs) on-chain, meaning they can enjoy the security and transparency which blockchain technology provides. 

Furthermore, ETFSwap (ETFS) adopts a permissionless approach by eliminating know-your-customer (KYC) requirements on the platform. This means users can sign up and start looking into investment opportunities without lengthy verification processes or intrusive paperwork.  This streamlined approach is excellent for those who value their privacy and prefer a faster onboarding experience, further contributing to the platform’s appeal.

The ETFSwap (ETFS) token provides added benefits for its holders, making it more appealing to crypto investors. By holding the token, crypto investors can enjoy passive income from staking rewards and ETFSwap’s revenue-sharing program among ETFS holders. 

ETFSwap’s (ETFS) bullish momentum isn’t slowing down anytime soon, and this is evident in the fact that its price is expected to double in stage 2 of the presale. That is why it is best for investors to get in now, with each token still selling at a giveaway price of 0.00854, before it increases to $0.01831. 

For more information about the ETFS Presale:

Visit ETFSwap PresaleJoin The ETFSwap Community

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Railgun Denies Ties to North Korea

NAIROBI (Coinchapter.com) – Crypto privacy protocol Railgun denies ties to North Korea and other U.S.-sanctioned entities to launder cryptocurrency. The protocol’s founders argue that its zero-knowledge-based technology prevents such misuse and that the allegations lack evidence.

Source: Railgun

Railgun’s denial of ties to sanctioned entities approaches a significant milestone, with its total volume nearing the $1 billion mark. The protocol’s rise in prominence has been bolstered by a recent endorsement from Ethereum co-founder Vitalik Buterin, who praised and defended the privacy-focused platform.

Railgun’s Zero-Knowledge Approach Shields Users’ Privacy

Railgun, founded in January 2021, utilizes zero-knowledge (ZK) cryptography to protect wallet balances, transaction histories, and details. This technology allows users to interact with decentralized applications (DApps) on Ethereum and other supported chains while maintaining their privacy. This technology has led blockchain security firm Elliptic to label Railgun as a “prime alternative to Tornado Cash” after the U.S. government imposed sanctions on the crypto mixer.

In response to the FBI’s allegations that North Korean cyber attackers used Railgun to launder more than $60 million worth of Ether from the 2022 Harmony Bridge heist, the protocol’s team has firmly denied the claims, calling them “false reporting.”

Company’s Growing Prominence Supported by Buterin

Railgun’s dedication to strong privacy-enhancing technologies is evident in its performance metrics across different blockchain ecosystems, according to Dune Analytics data. As of April 2024, the Total Value Locked (TVL) on Railgun’s Ethereum protocol stands at an impressive $25.58 million. This growth is bolstered by an increasing volume of transactions, with the platform approaching a total volume of $962.81 million.

Source: X

Recent attention from Ethereum co-founder Vitalik Buterin has further bolstered the protocol’s growth. On April 15, Buterin transferred 100 ETH, worth approximately $325,000, to Railgun, highlighting his support for the privacy-focused platform. This action boosted the native token (RAIL), increasing its price by 86.3% in the last week. It is now trading at $1.18.

RAIL/USD 1-day price chart. Source: CoinGenko

Despite recent developments, Railgun’s native token, RAIL, is currently trading at $1.17, reflecting a 12.88% decrease over the past day. Despite this decline, the overall market capitalization stands strong at $67.2 million, ranking it #2624 globally. The trading volume has surged by 88.65% in the last 24 hours, reaching $2.11 million.

In conclusion, Railgun denies ties and any involvement with North Korea and other sanctioned entities. Above all, its growing prominence and support from figures like Vitalik Buterin suggest that its privacy-focused approach is gaining traction in the DeFi space.

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Bitcoin’s next halving event which is scheduled for April 2024 the rewards of miners will be cut down from 6.25 BTC to 3.125. This event will affect the supply-demand and income of miners. On the other side, Bittensor is a decentralized A.I. network built on the Bitcoin blockchain, faces stiff competition from Borroe Finance ($ROE); a new DeFi AI-driven project.

>>BUY $ROE TOKENS NOW<<

Anticipation Ahead of Bitcoin Halving

Bitcoin’s halving event is just a few days away and investors and all cryptocurrency lovers who are closely monitoring this event are trying to predict the long-term path of this digital asset. While mining on the Bitcoin network, the halving takes place.

Usually after four years, the reward to miners for validating transactions decreases. Traditionally, it has been linked with increased volatility, which often accompanies the market price movements of Bitcoin. For example, the activities of big investors, who are usually termed as “whales,” who have increased their Bitcoin holdings in the past couple of days.

The halving attracts many whales as they purposefully set themselves up in advance, in anticipation of possible price spikes caused by the scarcity of new Bitcoin production. Their actions thus are a message of confidence in Bitcoin’s fundamental properties and its possibility to become a storehouse of value during worldwide economic problems.

The major factor pivotal for Bitcoin’s price after this halving will be the upsurge in demand from the group of investors who possess massive holdings, who are known as whales.

A phenomenon known as “transactional economics” has emerged whereby the long-term holders have now aggregated about seven times more Bitcoin than the new supply of Bitcoin entering circulation every month.

Compared to the previous periods when halving had a stronger implication on the price of Bitcoin than it used to, it may be less evident during this period due to the current wide gap between the monthly demand from the long-term holders (HODLers) and the supply created in the same duration.

Moreover, the general emission of Bitcoin declined to 4% of the whole of the available supply, reduced in contrast to before the previous halving period.

Borroe Finance ($ROE) Gains Momentum 

Borroe Finance’s ($ROE) fusion of AI and NFT technology has gathered a lot of crypto investors in its presale stage. Running on the Polygon blockchain, Borroe Finance ($ROE) sets itself apart with a funding structure that provides NFTs secured against future income, which enables fast fund-raising for businesses and creators in the Web3 ecosystem.

At the core of Borroe Finance ($ROE), is the marketplace for NFTs, where the creators have an opportunity to monetize future earnings. Unlike other digital assets that are subject to downward pressure, $ROE appreciates in value, bringing reliable income to investors.

Placing itself as a trailblazing AI fundraising marketplace within the Web3 realm, $ROE by Borroe Finance plans to transform fundraising processes by offering transparent and hassle-free financing for every Web3 user and entrepreneur.

The native currency, $ROE, gives the token holders privileges. Its exceptional rise, from $0.010 to $0.020 during the presale stage, demonstrates investors’ trust. The ongoing final presale stage for $ROE is priced at $0.020, and the launch price will be $0.025.

$ROE is a deflationary token that leverages scarcity and gradual value appreciation while attracting the Buy-and-Hodl investors. Under the competent leadership of Maxim Prishchepo and Michael Price, Borroe Finance ($ROE) remains dedicated to achieving its goals.

Unlike hype-driven coin offerings, Borroe Finance is focused on transparency; BlockAudit is the platform where smart contracts are audited. Equipped with a positive view for the future, the $ROE cryptocurrency community anticipates more growth in the establishment of the Borroe Finance ($ROE) final presale stage just before listing on the best top crypto exchanges.

Learn more about Borroe Finance ($ROE) here:Visit Borroe Finance Presale | Join The Telegram Group | Follow Borroe Finance on Twitter

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Bitcoin (BTC) fell precipitously over the weekend, hitting lows of $61,800 before recovering to around $65,000. The immediate cause of the dip was unclear; however, there are speculations that lower buying liquidity led to lower pricing. InQubeta (QUBE), the new artificial intelligence (AI) backed crypto, has triggered high anticipation among investors for its presale thanks to its massive presale sellout and price growth, threatening to outshine Chainlink (LINK) in the long run.

InQubeta’s platform will allow AI tech startups to pool capital by minting investment opportunities into trending NFTs (non-fungible tokens), providing QUBE holders equitable access to such innovative ventures. This project is also projected to grow considerably this year as its price has risen 300% since its highly recommended presale started. The following sections detail the potential of InQubeta doubling in value as a rival to Chainlink, and Bitcoin’s price dip this weekend.

InQubeta (QUBE) Nears The End Of Its Token Presale

InQubeta, a new project built on the Ethereum (ETH) blockchain, aims to enable AI-powered startups to raise funds and democratize AI investments. InQubeta will let individuals invest in projects they believe in, fostering an ecosystem that benefits all participants. Its native QUBE token is deflationary, with its supply gradually reduced through mechanisms like token burning or redistribution. This tokenomics model is designed to benefit QUBE holders and create a sustainable ecosystem.

The platform offers a user-friendly interface, a rewarding NFT marketplace, and an ambitious roadmap outlining plans such as a launchpad, a swapping protocol, and an educational academy for crypto enthusiasts. The trending NFTs in the marketplace represent accessible fractions of investment opportunities in the AI startups available to interested investors, catering to individuals with varying financial capacities. Other key features of InQubeta are its security commitment, staking rewards, and voting rights for token holders.

The InQubeta presale has attracted over $13.6 million in investments across ten stages, edging nearer to its imminent listing on Uniswap. Before InQubeta’s DeFi coin price increases to $0.0308 on its launch, a limited amount of tokens are still available for grabs at $0.028 in the remaining short period. There are already over 970 million QUBE tokens in circulation, showing the heightened interest in the project and contributing to the expectation of the price doubling once the project gets listed on top exchanges.

Visit InQubeta Website

Bitcoin (BTC) Liquidates Nearly $900 Million As Price Dips

Bitcoin’s DeFi coin price reverted to levels as low as $65,000 during the opening hours of the New York session on Friday, which surprised many traders. Bitcoin then saw over $881 million in total liquidations, composed of $784 million in long positions and about $97 million in short positions. Although the price showed signs of recovery and later dipped to a weekend low of around $61,800, BTC now trades around the $65,000 level.

Coming about a week before the Bitcoin halving event, the downswing could probably be a good buy opportunity for the late bulls, those who resisted FOMO when it was surging in March, and those who had written themselves off as sidelined when BTC ascended past the $69,000 threshold. Notably, FXStreet analysis suggests that BTC may be due for a recovery later, as multiple technical indicators lean in favor of the bears. 

Chainlink (LINK) On A 23% Weekly Correction

Chainlink seems stuck in a bearish continuation pattern that could result in a considerable decline. Due to broader market conditions, Chainlink’s price is likely falling lower daily, and the crypto’s bulls are not particularly optimistic either, which could result in LINK failing any potential recovery. Active addresses on the network have hit a new low after declining for the past couple of days. 

In the past few days, Chainlink recorded the lowest number of transactions on its network since October 2023, according to BeInCrypto data. LINK is down by nearly 23% in a 7-day frame and about 35% in the past month.

Conclusion

Bitcoin showed a notable decline over the weekend, and many await to see if there’ll be a possible comeback before it halves on April 22. InQubeta is challenging established blockchain platforms like Chainlink as it’s all about making AI cryptocurrency investment more inclusive and dynamic, and that’s an exciting prospect for the future. With the growing mainstream adoption of AI technology, InQubeta is a recommended presale for doubling gains. Visit the website below and purchase your tokens at a discounted price now, remembering to use the promo code ‘QUBE15’ to get a 15% bonus.

Visit InQubeta WebsiteJoin The InQubeta Communities

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London, UK, April 17th, 2024, Chainwire

Aark announces the successful completion of its Seed Round funding, attracting investment from leading industry pioneers, including HashKey Capital, Arrington Capital, Cypher Capital, Morningstar Ventures, IVC, and Metavest.

This follows its Pre-Seed in the second quarter of 2023, impressively led by Delphi Digital, with participation from OKX Ventures and Big Brain Holdings.

Aark is a 1000x perpetual DEX set to revolutionize the DeFi space by leveraging LRT assets to bolster liquidity for perpetual traders.

With the new investment, Aark will grow its team to develop more scalable liquidity, targeting the substantial $10 billion TVL market and enabling unparalleled high-leverage trading of up to 1000x for long-tail assets.

“Aark is shaping a future where perpetual DEXs surpass their centralized counterparts. To achieve this, Aark is introducing DeFi innovations that are absent in CeFi. Over the past two years, Aark has been meticulously developing a hyperscalable and diverse system. With the support of our new investors and believers, we aim to propel the on-chain derivatives industry to new heights,” said Eden, CEO of Aark.

“Aark’s innovative exchange model, diverse composability, and tradfi-focused team position it for significant market growth. HashKey Capital is excited to support Aark’s mission to revolutionize the perp dex landscape. We look forward to witnessing Aark’s continued growth and success in the years to come.” said Stanely Wu, Investment Professional of Hashkey Capital

“With growing adoption rates and bullish market trends, the industry needs more projects focusing on scalable and advanced trading solutions that can serve the needs of both retail and institutional investors. With Aark at the forefront of LRTfi and being one of the leading perpetual DEXs on Arbitrum, we are thrilled to be part of this round and continue supporting the team in growing within the DeFi landscape.” said Danilo S. Carlucci, Founder and CEO of Morningstar Ventures

About Aark:

Aark is a pioneering Leverage-Everything Perpetual DEX that taps into DeFi’s most liquid sector: LRT. Aark provides delta-neutral yields for LRTs, which in return provide liquidity for traders. Aark’s scalable infrastructure, capable of delivering CEX-level liquidity, allows up to 1000x leverage for long-tail assets. Aark embodies security, scalability, and liquidity, leading the forefront of DeFi innovations.

Contacts

MarketingOceanAARKOcean@aark.digitalMarketingNJAARKNinja@aark.digital

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Zug, Switzerland, April 17th, 2024, Chainwire

Anomaly, announces the launch of the first AI-powered zero-gas Layer-3 gaming platform leveraging a play-to-airdrop mechanism targeting Telegram’s 900 million daily active users. Powered by Arbitrum Orbit and using Gelato’s Rollup-as-a-Service (RaaS), Anomaly’s new Layer-3 is set to redefine the gaming industry empowering developers to create immersive decentralized gaming experiences with unprecedented speed leveraging AI-enabled Game Engine, while completely abstracting away blockchain complexities.

Anomaly streamlines blockchain gaming UX with Account Abstraction enabling user onboarding via social platforms and leveraging SocialFi for game monetization. At the core of the new gaming Layer-3 sits the Anomaly SDK, which enables advanced AI functionalities like AI-driven matchmaking, decision-making, player model training, automated quest creation, and asset generation in Web3 gaming. This aims to help reduce developer time, address cost challenges of AI integration, and significantly improve user engagement and experience within the Anomaly gaming ecosystem.

“With Anomaly, we’re not just launching another gaming platform; we’re pioneering a new paradigm in Web3 gaming, that will fundamentally alter the blockchain gaming industry,” said Long Do, Founder of Anomaly. “Anomaly Layer-3 will function as a decentralized game layer with a native AI tech stack, promoting interoperability and platform experience.”

Leveraging Arbitrum Anytrust DAC technology, Anomaly Layer-3 Orbit chain inherits a fast, secure, and scalable execution environment, boasting a 250ms block time with near-instant transaction finality, processing thousands of transactions per second, standing out as one of the fastest EVM Layer-3 rollups on the market. The chain will feature a native gas token $nom that will secure smooth navigation between gaming realms.

“Anomaly’s implementation of the Arbitrum Orbit tech stack addresses fundamental issues encountered by blockchain games,” said Cooper Midroni, Product Manager at Offchain Labs. “The Anomaly Layer-3 ecosystem enables on-chain games to offer the same level of enjoyment and seamless experience as traditional games.”

The chain operates with a gasless user experience designed to provide a web2-like user experience gameplay. It launches with Gelato’s industry-standard web3 services, Gelato Relayers, Web3 Functions, and VRF. These services enable a fully automated, immersive gaming experience and provide a verified source of on-chain randomness for fair gameplay. The chain will also come out-of-box equipped with key infrastructure like the Blockscout block explorer providing easy access to block, transaction, and address data and canonical bridge UI serviced by Gelato.

“Anomaly came to us asking for a future-proof gaming platform that supports millions of users,” explained Hilmar Orth, Founder of Gelato. “We created a gaming-centric, fully-serviced, auto-scalable Layer-3 infrastructure that enables Anomaly to attract community and liquidity – ultimately supporting distribution.”

Anomaly Layer-3 will also leverage Gelato’s latest Node-Sale-as-a-Service solution to enhance its rollup security by selling verifier node licences and enabling community participation in securing Anomaly’s infrastructure. Anomaly’s launch will feature a private sale of AI-based Node NFTs to early supporters on Telegram, underlining the platform’s focus on a community-driven ecosystem. Furthermore, Anomaly will make it easier for all users to operate their node with cloud based subscriptions that they can run by paying monthly directly inside telegram.

Anomaly is poised to revolutionize web3 gaming by engaging with Telegram, Discord, and Farcaster communities. This approach meets users where they are, providing in-platform gaming experiences that bypass onboarding challenges, abstract away blockchain complexities, and offer experiences on par with web2 games.

About Anomaly

Anomaly is an avant-garde AI gaming studio and Layer 3 blockchain innovator poised to redefine gaming by merging Web3 with SocialFi and utilizing AI to create immersive experiences. Anomaly is at the forefront of gaming evolution, focusing on harnessing AI and blockchain synergies. The studio is dedicated to rapid game development and deployment, community engagement via social platforms, and innovative approaches to gaming, setting new benchmarks in interactive entertainment.

About The Arbitrum Foundation

The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and community with secure scaling for Ethereum. Introduced in March 2023, Arbitrum Orbit is a permissionless path for launching customizable dedicated L2 and L3 Orbit chains using Arbitrum technology. Arbitrum Orbit enables features such as custom gas tokens, dedicated throughput, customizable permissions, interoperability, and more by leveraging its secure, scalable, and cost-efficient blockchain scaling technology. More than 25 Orbit chains have been officially announced, and an additional 50+ are in active development to date.

About Gelato

Gelato is an all-in-one Ethereum Rollup as a Service Platform built without limits. Designed to be super-fast, incredibly secure, and infinitely scalable, Gelato Rollups allow anyone to build and deploy their fully serviced Layer 2 and Layer 3 chains natively integrated with industry-standard Web3 tools and services launching a production-ready web3 development environment with one click.

Contact

Head of MarketingElla JonasGelato Digital GmbHpress@gelato.digital

The post Introducing Anomaly: AI-Powered Layer 3 for Gaming powered by Arbitrum Orbit, built on Gelato RaaS appeared first on CoinChapter.

Key Takeaways:

Bitcoin price is consolidating gains below the $70,000 resistance.

BTC/USD is still holding gains above a crucial parabolic curve with support at $60,000 on the weekly chart.

The price must stay above $60,000 to avoid a major bearish break.

Bitcoin Price Sets Up For A Bullish Streak Read CoinChapter.com on Google News

Bitcoin price is struggling to start a fresh increase above $70,000. However, BTC/USD is still holding the key uptrend support at $60,000.

Bitcoin Price Holds Uptrend Support

After trading to a new all-time high at $73,666, Bitcoin price started a downside correction. There was a drop of over $10,000 and the price declined below the $65,000 support. It even dragged many cryptocurrencies into the red zone, including Ethereum, Solana, XRP, BNB, and DOGE.

The last three weekly candles suggest BTC is struggling to start a fresh increase above the $68,000 and $70,000 resistance levels. However, it is still holding gains above a crucial parabolic curve with support at $60,000 on the weekly chart and trading well above the 50-week simple moving average (blue).

Bitcoin price weekly chart | Source: BTC/USD on TradingView.com

The current price action indicates that Bitcoin price might continue to consolidate below the $70,000 resistance zone. There could be a couple of nasty drops, but the bulls might remain active near the $60,000 support zone.

Immediate support is seen near the $62,000 level. The first major support is near the $61,200 level. The main uptrend support is now forming near the parabolic curve at $60,000. It is close to the 23.6% Fib retracement level of the key increase from the $15,487 swing low to the $73,666 high.

A downside break and a weekly close below the parabolic curve might spark a major bearish move. In the stated case, BTC might correct lower toward the $50,000 support zone.

The next major support could be $44,500 or the 50% Fib retracement level of the key increase from the $15,487 swing low to the $73,666 high, below which the bears might push the price toward the 50-week simple moving average (blue) at $38,000.

Another Increase In BTC?

Conversely, Bitcoin price might stay above the $60,000 support and start another increase. On the upside, BTC is facing resistance near the $67,000 level.

The first major resistance is near the $68,000 level. The main breakout zone now sits at $70,000. A close above the $70,000 resistance could initiate a steady increase. In the stated case, the bulls could aim for a new all-time high above $73,500. The next stop for them might be $75,000.

Overall, Bitcoin is showing a few bearish signs below the $68,000 and $70,000 levels. However, BTC could start another increase unless there is a weekly close below $60,000.

The post Bitcoin Price Prediction – Why BTC Bulls Need Not To Worry Just Yet appeared first on CoinChapter.

Can Elon Musk Dump His Bitcoin Amid Tesla Tornadoes?

YEREVAN (CoinChapter.com) — Tesla’s recent layoffs and the ensuing stock market response have raised pressing questions about the company’s financial strategies and asset management. With Tesla’s stock price experiencing a significant downturn, investors and analysts closely watch its Bitcoin holdings/ This cryptocurrency, once a bold investment, may now play a crucial role in Tesla’s financial strategy.

Tesla’s Bitcoin Playbook: A Mixed Financial Forte

Tesla’s initial $1.5 billion Bitcoin investment in February 2021 came when the cryptocurrency was priced at around $36,000. This move was part of a broader trend of tech companies diversifying into digital currencies.

The company sold about 85% of its holdings by mid-2022, reaping substantial profits but also sparking debate about the volatility and liquidity of such assets. For instance, in the first quarter of 2021, Tesla sold Bitcoin valued at $272 million, representing a staggering 93% of that period’s free cash flows. Similarly, in Q2 2022, a 73% reduction in free cash flows was observed alongside significant Bitcoin sales.

Elon Musk and Tesla’s Bitcoin Holdings Valued at $385M – Radar Tweet Snapshot

The remaining 9,720 BTC, valued at approximately $63,166 each as of April 16, 2024, represent a significant part of Tesla’s reserve assets.

BTC/USD weekly price chart ft. Source: TradingView Financial Stability and Remaining Holdings

Tesla’s approach to Bitcoin has evolved from aggressive investment to a conservative holding strategy. With Tesla’s free cash flows strengthening in 2023, reaching $2.1 billion in Q4 and totaling $4.4 billion for the year, the need to sell Bitcoin for liquidity has diminished. This financial recovery may influence Elon Musk’s decision to hold onto the remaining Bitcoin, betting on future value increases rather than cashing out during a high.

Tesla free cash flows performance by quarter. Source: Statista From Financial Strategy to Financial Cushion

While Tesla’s grip on its Bitcoin hoard may suggest a gambit for future windfalls, it also reflects a strategic cushion against operational costs and market unpredictability. The decision to hold or sell transcends mere financial calculus—it’s a statement of confidence in Bitcoin’s enduring value.

Tesla Q4 FY23 Financial Overview – App Economy Insights Twitter Update

Elon Musk and Tesla stand at a crossroads where each decision on asset management could significantly impact the company’s financial health. The remaining Bitcoin holdings are not just a reminder of past investment risks but a potential key to financial stability. How Tesla manages these assets amid ongoing financial adjustments will be a defining aspect of its strategy in 2024. The coming months will be critical, as they could dictate strategic shifts in Tesla’s asset management.

The post Can Elon Musk Dump His Bitcoin Amid Tesla Tornadoes? appeared first on CoinChapter.

Majuro, Marsall Island, April 17th, 2024, Chainwire

OSEAN DAO is advancing rapidly: With company registration on the horizon, the organization is preparing to acquire its first boat and has announced a 5 million $OSEAN commemorative airdrop scheduled for May.

The project has attracted a diverse team of skilled professionals and achieved significant milestones in a short time.

Having reached a $2 million market cap last month, OSEAN DAO has now successfully gathered half of the funds needed for its first boat, setting the stage for the forthcoming milestone of company registration.

Pioneering the Fusion of Yachting and Cryptocurrency

Founded by a professional yachting team, OSEAN DAO is pioneering the integration of the yachting industry—valued at over $9.38 billion in 2023—with the cryptocurrency sector, representing the first Real World Asset (RWA) bridge of its kind.

Leveraging the extensive experience of its founders who currently manage a successful yachting charter and training business, the team has crafted a detailed business plan that spans from boat management to cryptocurrency marketing.

As the completion of the company registration approaches, the project is moving closer to acquiring its first boat and achieving its goal of generating potential revenue through a variety of maritime activities for the DAO.

“With the BTC halving approaching and our ongoing marketing efforts, it’s just a matter of time before we secure the remaining funds to buy our first asset. Once sailing in the Mediterranean Sea bearing the OSEAN DAO brand, it’ll prove our concept and be a major turning point for the project, our DAO members and our holders.” said Christos TSAFAROGLOU, Founder of OSEAN DAO

Company Registration Sets Stage for Industry Entry

Expected to be completed by the end of the month, the company registration is a critical advancement for OSEAN DAO. By formally establishing the entity and identifying key management members, this registration ensures accountability and transparency, addressing common concerns within the cryptocurrency ecosystem about the risks of scams by anonymous entities.

The registration will enable the company to function as a legal entity that represents the DAO, allowing access to credit accounts, contract-making capabilities, and other essential functions, thus positioning OSEAN DAO for its formal entry into the yachting industry.

Unlocking Partnership Opportunities

The Limited Liability Company (LLC) registration enhances OSEAN DAO’s ability to form strategic partnerships within the yachting industry. This registration facilitates collaboration with established yacht charter companies, manufacturers, or brokers, aiding in the acquisition of vessels for OSEAN DAO’s fleet and improving the efficiency and reliability of its maritime activities.

Such partnerships are crucial for diversifying offerings and creating multiple income streams. As part of its expansion plans, the team aims to enhance yachting services through an online store that accepts both fiat and cryptocurrency payments. This store will feature a variety of products and services from OSEAN DAO and its partners, including cruise bookings, yacht furnishings, and exclusive OSEAN DAO merchandise.

“We’re about to open up a significant gateway between the crypto and yachting industries. Many innovative mechanisms can be leveraged to enhance each industry through the other and we are about to explore all of them!” explained Christos TSAFAROGLOU.

5 Million $OSEAN Airdrop Announcement

In celebration of its achievements and in recognition of the unwavering support from its community since its launch on April 30, 2023, OSEAN DAO is planning a 5 million $OSEAN airdrop in May 2024.

Carefully designed to offer a fair opportunity to all participants, this initiative is in line with OSEAN DAO’s overarching goal of reducing barriers to entry in the yachting market, enabling more individuals to engage with this expanding industry.

“The airdrop is designed to reward our holders and loyal community members with significant benefits, while attracting new participants with exciting incentives. Our aim is to unite the entire community in celebration of OSEAN DAO’s success with a lively and inclusive event.” said Eric FOURNIER, Head Marketing Advisor at OSEAN DAO.

Participants can try to increase their chances of receiving rewards by joining OSEAN DAO’s social media channels and exploring opportunities within the project.

For further updates and information about the upcoming airdrop, users can refer to OSEAN DAO’s official communication channels. 

About OSEAN DAO

OSEAN DAO is the first Multichain Real World Asset (RWA) cryptocurrency project designed to invest in Yachting. Deployed on both the Ethereum (ETH) and Binance Smart Chain (BSC) networks, OSEAN DAO aims to democratise the yachting industry sector by leveraging blockchain technology.

$OSEAN holders can already benefit from rewards for staking without any lock-in or vesting period, using the OSEAN DAO staking platform.

OSEAN DAO Official links

Contact

FounderChristos TsafaroglouOSEAN DAOinfo@osean.online

The post OSEAN DAO Celebrates Company Registration Milestone and Announces an Upcoming 5 Million $OSEAN Airdrop appeared first on CoinChapter.

Bitcoin whales are buying BTC despite price crash Read CoinChapter.com on Google News

NOIDA (CoinChapter.com) — During the recent crypto market crash, Bitcoin (BTC) dropped below $61,000 for a while before recovering. Despite the price dip, Bitcoin whales continued buying BTC tokens to add to their coffers.

The behavior highlights the market confidence in the BTC’s long-term value while indicating a disconnect between whale activities and short-term market fluctuations. A key reason for the rally could be the anticipation of the upcoming Bitcoin halving.

Whale Accumulation Amid Market Volatility

As the Bitcoin ecosystem prepares for another halving event, the response from whale holders has been decidedly bullish. Data from Santiment, a leading provider of on-chain insights, reveals significant buying activity.

Per a post by Santiment, BTC whales controlling wallets holding between 100 to 1,000 BTC added an additional 43,489 coins, amounting to approximately $2.75 billion since March 1. The tier’s activities indicate optimism, as these mid-tier investors are often considered the most reactive to market changes.

Crypto market downtrends did not affect Bitcoin whales’ buying spree. Source: Santiment

More substantial investors, holding between 1,000 to 10,000 BTC, accumulated 80,544 coins valued at around $5.10 billion in the same timeframe.

The largest players in the Bitcoin market, managing wallets with 10,000 to 100,000 BTC, added a significant 91,732 coins to their portfolios, valued at approximately $5.80 billion.

The recent buying spree by the group of the largest BTC whales (the blue whales, maybe?) suggests market participants believe in Bitcoin as a store of value.

However, the buying spree by Bitcoin whales paints a pattern of significant stakeholders ‘buying the dip.’

Though the move could help cushion the market against further downturns and stabilize prices over time, a significant rally post-halving could result in some profit booking. Yet, it is likely that the selling pressure was more likely to come from the smaller fishes and maybe the sharks.

The contrast between the bearish sentiment in the Spot Bitcoin ETF markets, where demand has declined, and the bullish stance of Bitcoin whales is particularly notable.

Furthermore, these movements occur at a time when Bitcoin’s dominance in the cryptocurrency market has reached a three-year high, now representing nearly 55% of the total $2.4 trillion market cap of all virtual currencies.

Bitcoin Dominance Index daily performance chart. Source: TradingView Bitcoin Price In Holding Pattern Ahead Of Halving

Meanwhile, Bitcoin prices remained in a holding pattern following the recent market crash. The long lower wicks on the recent daily price candles highlight the presence of bulls in the market, yet the BTC price has not started a rally.

The price action suggests that traders are waiting for the halving event to have its impact on the market before entering it. Bulls fought back from a daily low near $61,650 on April 16 to close the day with 0.6% gains.

The rally seems to be continuing on April 17, with the token reaching a high near $64,370 after a 1.5% spike in prices.

BTCUSD daily price chart with RSI. Source: Tradingview.com

The 20-day EMA (red wave) forms the first crucial resistance for the token near $67,000. Breaking and consolidating above the immediate resistance could help BTC’s price rally to the resistance near $71,250.

However, if the optimism of Bitcoin whales does not spread, BTC price could face a drop to the support near $61,500. A breach of the immediate support level would mean Bitcoin price testing the support near $57,400 before recovering.

The RSI for Bitcoin remained comfortably neutral at a score of 42.96, leaving bulls plenty of room to rally before the momentum oscillator becomes overbought.

The post Bitcoin Whales Do Not Give a Damn About Latest BTC Price Crash appeared first on CoinChapter.

Chicago, United States, April 17th, 2024, Chainwire

Liquid Mercury, a leading crypto trading technology provider, announced today that it is providing a request for quote (RFQ) platform to GFO-X, the UK’s first regulated and centrally cleared trading venue dedicated to digital assets derivatives. Institutional traders will be able to source deep liquidity for trading listed options and futures contracts in large trade sizes that can be transacted as single-leg or complex, multi-leg strategies.

Liquid Mercury’s institutional-grade platform combined with GFO-X’s regulated derivatives marketplace provides a secure and efficient trading environment for institutional trading firms and professional investors. This technology allows market participants to manage digital asset exposure and hedge underlying portfolio risks.

Liquidity providers can provide two-sided quotes in response to RFQs generated by hedge funds, asset managers, and other buy-side participants initiated from Liquid Mercury’s professional-grade trading interface or FIX and web socket APIs. Trades will print on GFO-X’s exchange and be cleared through a GFO-X general clearing member at LCH SA, LCH Group’s continental Europe clearing house and part of the largest and most sophisticated clearing services in financial markets. Brokers will also use Liquid Mercury’s platform to intermediate trades between buyers and sellers in order to cross-block trades on GFO-X’s exchange and conduct other sell-side trading workflows.

“Looking at the equity derivatives market, where the growth in number of options exchanges has fueled the growth in trading participants, added more liquidity in the market, and driven record volumes of contracts traded, I see GFO-X’s entrance into crypto derivatives as a key development for a more vibrant exchange landscape. This is a prime opportunity to grow the entire crypto options market,” said Liquid Mercury CEO, Tony Saliba. “In addition to providing the technology solution that will power GFO-X’s block liquidity network, Liquid Mercury will be operating as a strategic partner, introducing our clients and broad network of traditional market players as new participants to GFO-X’s exchange.”

“We chose Liquid Mercury as a partner due to the team’s pedigree in building successful technology-focused franchises in traditional markets, combined with a track record of delivering institutional-grade solutions to the professional crypto trading community,” said GFO-X CEO, Arnab Sen. “Our shared vision of a regulated derivatives market that is purpose-built for digital assets using the best market standards and technology from traditional finance underpins what we expect to be a long and very fruitful strategic partnership.”

For more information about Liquid Mercury’s suite of crypto trading technology solutions, users can visit www.liquidmercury.com.

About Liquid Mercury

Liquid Mercury powers professional crypto trading. Liquid Mercury is the #1 choice for sophisticated buy-side and institutional sell-side legacy trading professionals moving into crypto. Institutional grade infrastructure, access to deep liquidity, and best-in-class trading tools and workflow automation; Liquid Mercury was built by professionals for professionals. For more information about Liquid Mercury, visit www.liquidmercury.com.

About GFO-X

Global Futures and Options Ltd (GFO-X) is the UK’s first regulated and centrally cleared trading venue dedicated to digital asset derivatives. UK FCA authorised and regulated, GFO-X is connected to the world’s largest financial institutions and has partnered with leading clearing house LCH SA, solving for counterparty and credit risk.

GFO-X services the significant unmet need of large global institutional participants who require a highly regulated, institutional-grade trading venue for digital asset derivatives.

GFO-X’s mission is to deliver enhanced liquidity, institutional connectivity and risk mitigation through high-performance technology and optimized contract specifications.

Further information can be found at www.gfo-x.com

Contact

Chief Commercial OfficerRyan HansenLiquid Mercuryteam@liquidmercury.com

The post Liquid Mercury Partners with GFO-X to Provide RFQ Platform for Trading Crypto Derivatives appeared first on CoinChapter.

Google to Invest Over 100B in AGI

NAIROBI (Coinchapter.com) – In a recent statement at a TED conference in Canada, Demis Hassabis, CEO of Google DeepMind, made a compelling announcement that Google plans to invest over $100 billion in the development of Artificial General Intelligence (AGI). This declaration comes in response to Microsoft’s “Stargate” initiative, signaling a major commitment from Google to advance AGI technology.

DeepMind CEO image. Source: Unspalsh

Hassabis co-founded DeepMind in 2010, which Google acquired in 2014. He announced at a TED conference in Canada that when questioned about the “Stargate” project, he replied, “We don’t discuss specific numbers, but our investment will exceed that over time.” Above all, this underscores Google’s strong commitment to leading in the competitive AI field.

Microsoft and OpenAI’s Ambitious “Stargate” Project

Reportedly codenamed ‘Stargate,’ this project is a collaboration between Microsoft and OpenAI. They aim to build a $100 billion supercomputer system for training advanced AI models. An anonymous source close to OpenAI CEO Sam Altman revealed that the Stargate project is in the planning stages. The goal is to create a distributed network of computers across the United States.

Moreover, to put the proposed costs into perspective, the world’s most powerful supercomputer, the U.S.-based “Frontier” system, cost approximately $600 million to build. The Stargate project envisions a much more ambitious, multi-phase approach that will ultimately culminate in the creation of a ‘penultimate’ Stargate system.

Google’s Plans to Invest and Its Competitive Edge

Notably, in his remarks, Hassabis highlighted one of Google’s key advantages over its rivals, including Microsoft. He noted that Google’s parent company, Alphabet, has better computing power than its competitors, which is a crucial factor in the race for AGI.

“That’s one of the reasons we teamed up with Google back in 2014, is we knew that in order to get to AGI we would need a lot of compute,” Hassabis said. This emphasizes the importance of access to vast computing resources in the pursuit of artificial general intelligence.

GOOG • NASDAQ Price chart. Source: Google Finance

Notably, on April 16th, 2024, Alphabet’s stock price closed at $156.33 per share. In the trading session following the AGI investment announcement, the stock price has risen slightly, up 0.21% to $156.00 as of the market close. While the increase is modest in the short-term, the overall trend shows investor optimism, with the stock price up over 8% in the past month.

In conclusion, Google commits over $100 billion to AGI technology. Above all, this underscores its ambition to lead in the evolving AI landscape. As AI competition intensifies, expect larger investments and bold initiatives from tech giants.

The post Google to Invest Over $100B in AGI, According to DeepMind CEO appeared first on CoinChapter.

CORE Price Could Rally Higher After Recent Spike Read CoinChapter.com on Google News

NOIDA (CoinChapter.com)— Core DAO’s CORE token bucked the crypto market trend on April 15, rallying over 100% to a daily high near $2.9. However, CORE price pared gains due to profit-booking by bears who were likely following the ‘buy the rumor, sell the news‘ trading pattern.

Certainly, technological updates and partnerships in its ecosystem helped the blockchain platform’s native token rally. Moreover, the Core DAO team expects the recent developments to enhance the functionality and market position of the Core Chain. CORE price recovered strongly from the recent crypto market price crash.

Partnerships And Developments Help Fuel CORE Price Rally

A primary factor contributing to the recent rally was the news of the launch of Colend on April 16. The protocol is a borrowing and lending protocol on the Core Chain ecosystem. Colend leverages the Core Chain’s infrastructure to ensure transaction transparency and security.

Borrowing and lending platform Colend launched on Core Chain.

The protocol features multiple liquidity pools with dynamic interest rates based on supply and demand. Additionally, Colend introduces a flexible collateral system, which could increase user engagement and investment on the platform.

Core Chain partnered with HTX Ventures.

Moreover, another significant development is the partnership between HTX Ventures and the Core Venture Network.

The partnership with HTC would help provide Core Chain developers with strategic assistance, financial support, and advisory services. As such, it could lead to increased development activity, potentially attracting investors to the project.

The launch of Colend enhances liquidity management and user experience on the Core Chain, while the HTX Ventures partnership provides ongoing growth and support for the ecosystem.

Moreover, the upcoming Bitcoin halving might have contributed to the CORE price rally, given that the project recently launched a non-custodial Bitcoin staking service called coreBTC.

Core Chain Token Paints Bullish Setup

Notably, though profit booking pared some of CORE’s gains, the token has formed a bullish technical pattern called the ‘falling wedge,’ which could attract buyers to the market.

CORE price formed a bullish technical pattern with a 219% upside target. (Tradingview.com)

Historically, two converging trend lines create the falling wedge pattern. The pattern occurs when an asset’s price makes lower highs and lower lows steeper than the highs. As such, the pattern usually suggests that an upward reversal is probable.

Traditionally, traders set the price target for this pattern by adding the widest distance between the trend lines at the pattern’s inception to the breakout point.

Notably, when a breakout occurs with significant volume, it indicates a strong market conviction. This enhances the probability that the trend will continue. The high volume breakout is crucial as it confirms the strength and commitment behind the price movement and indicates the breakout is not a fluke.

Above all, according to the rules of technical analysis, if the pattern pans out, CORE price could spike nearly 219% to reach a theoretical price target near $7.4.

The post CORE Price Could Rally Higher After Its Recent 102% Spike— Here’s Why appeared first on CoinChapter.

Bitcoin Price Dip Possible

NAIROBI (Coinchapter.com) – As the Bitcoin (BTC) market navigates a period of volatility, analysts are weighing in on whether an extended Bitcoin price dip is possible, or likely. While some warn of a significant price drop, others argue against the likelihood of a “black swan event.”

Bitcoin, the premier cryptocurrency, might be heading for a downturn, as suggested by analysts examining its technical indicators. This prediction follows a recent spike where BTC nearly reached the $61,000 level. Analyst Mark Cullen recently highlighted the potential for a new drop in the BTC/USD pair, sparking widespread discussion.

$59,000 Bitcoin Price Dip Possible by April 17

According to popular analyst Mark Cullen, the course is set for a final down move that could take Bitcoin to around $59,000 in the coming days. Utilizing the Elliott Wave method, Cullen suggested that this $59,000 price level would put BTC price action at its lowest since late February, representing a drawdown of around 20% from recent all-time highs.

BTC/USD price chart. Source TradingView

After challenging the $61,000 resistance level, a significant rebound in the BTC/USD pair failed to hold, with the cryptocurrency now circling the $62,000 mark as of April 16.

Another analyst, Matthew Hyland, has also weighed in on the current pullback, focusing on the upcoming weekly close for insights into its staying power. Hyland noted that BTC/USD has lost the support of its 10-week simple moving average (SMA), which currently lies at $64,130.

“This is highly dependent on how the weekly candle closes,” he wrote. “The last time it tested it, it was a great buying opportunity and never closed below it. The close will be what matters most.”

Market Sentiments and Historical Comparisons

The recent tweet from CryptoJelleNL points out that Bitcoin’s current market pattern mirrors the 2014-2018 cycle. Jelle emphasizes the importance of endurance through the halving event and the turbulent period before reaching all-time highs (ATH), suggesting optimistic prospects beyond current fluctuations.

Bitcoin 2014-2018 and 2021-2025 price chart. Source: TradingView

Historical data and market reactions provide insights into potential future movements when discussing the broader context. During 2019-2020, Bitcoin experienced volatility in response to the Federal Reserve’s rate adjustments, which correlated with significant price movements in Bitcoin’s trading history. Notably, during these periods, Bitcoin managed to rally and accumulate value preemptively before major economic downturns.

CVDD bottom. Source: CryptoQuant

For the current cycle, the community is cautious about equating the unfolding events with a “black swan” like those driven by unforeseen crises in the past. Instead, analysts like binhdangg, using the CVDD (Cumulative Value-Days Destroyed) metric, suggest more tempered expectations. The CVDD metric has historically pinpointed local peaks effectively, and current patterns may suggest a return to a consolidation phase rather than a drastic downturn to CVDD bottom levels.

The post Bitcoin Price Dip Possible as Analysts Eye Key Levels appeared first on CoinChapter.

Crypto is where generational wealth is made, provided you know where to look or the best altcoins to invest in. Generating much buzz is InQubeta (QUBE), an emerging crypto capturing the attention of Litecoin (LTC) and Memecoin (MEME) holders.

This new crypto stands at the intersection of AI and blockchain, representing the best of the world’s most disruptive innovations. The presale is in its final stage, having raised a whopping $13.5 million in early funding and its Uniswap listing is imminent.

On the cusp of taking the crypto world by storm, it has been hailed as the best new crypto to invest in. This explains the frenzy around the presale, with many hoping to become early holders ahead of its explosive market debut and parabolic run.

InQubeta (QUBE): On the Cusp of Explosive Growth

InQubeta (QUBE) represents another shot at generational wealth in the crypto space. Buzzing with potential, it is one of the best cryptos to buy now for good reasons. Besides its bullish narrative as an AI altcoin, its low entry point and significant upside potential make it a must-have crypto.

The presale is nearing its end, as its Uniswap listing is imminent. With a window of opportunity available, you can become an early holder by purchasing it at just $0.028 per token. Analysts’ stance remains bullish, predicting a 70x upturn after its market debut.

Further adding to its appeal are the critical problems it aims to address in the AI sector. It is set to play a crucial role in AI’s future, particularly in the fundraising scene.

Navigating uncharted waters, it will build a crypto-based crowdfunding platform for AI tech startups—the first in the world. This groundbreaking approach will address fundraising challenges, allowing new AI companies to source capital through equity-based NFTs and the QUBE token.

Litecoin (LTC): A Top Altcoin

Litecoin (LTC) is among the market’s top altcoins. It was based on the Bitcoin protocol—a fork—but differs in some key areas like the hashing algorithm, block transaction times and hard cap. It was designed to provide fast, secure and low-cost payments, making it a key player in the crypto space.

Considering Litecoin was released in 2011, it has a longer market presence than new altcoins like Starknet, Wormhole and DYM, not to mention its stellar track record.

As one of the most dominant altcoins, Litecoin is among the best coins to invest in. Rising institutional interest and growing adoption make it all the more bullish, positioning it as a good crypto to buy. However, for more gains, holders have been looking towards new and more promising altcoins.

Memecoin (MEME): Interest Declines

Memecoin (MEME) launched in the final quarter of 2023 and hasn’t looked back since then. It has been riding the meme wave, trading alongside other hot meme tokens like dogwifhat (WIF) and Bonk (BONK), leading dog-themed coins on the Solana blockchain.

After creating an all-time high (ATH) in mid-March, momentum declined. The wider market downturn and the dwindling interest in memes can be attributed to the dip in the value of Memecoin. Nevertheless, it remains one of the best meme coins.

A comeback is on the cards but its upside potential is nonetheless limited. As a result, savvy investors and holders have been looking beyond Memecoin to other 100x gems in their quest to make generational wealth.

Conclusion

Litecoin and Memecoin holders have been showing quite a keen interest in InQubeta due to its explosive upside potential. Serving as the cherry on top is the vital role it will play in the AI sector, placing it on an adoption path. With its market debut fast approaching, you can become an early holder through the link below.

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The post Litecoin (LTC) and Memecoin (MEME) Holders Pursue Significant Gains in New AI Token Presale appeared first on CoinChapter.

Toncoin (TON) started as Telegram’s maiden project. Over the years, the project’s community has spiked following its unrivaled support. Recently, the TON foundation partnered with HaskKey Group to provide on- and off-ramping of cryptocurrency and fiat to Asian users of the wallet service in Telegram. Despite the legal tussle with the SEC, the project’s strong endorsement positions it among the top crypto coins in the market. 

Meanwhile NuggetRush (NUGX), a solid Terra (LUNA) rival, witnesses increased investor interest. NuggetRush prepares for a paradigm-shifting rally with its unique blend of play-to-earn (P2E) gaming, non-fungible tokens (NFTs), and artisanal mining. NuggetRush thrives as one of the best gaming tokens this year because it offers players an adventurous and rewarding gaming experience.

Let’s explore why NuggetRush experiences soaring investor interest.

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NuggetRush (NUGX) Is The New DeFi Crypto Offering Wealth Generating Opportunities 

NuggetRush promotes a vibrant community of meme coin and P2E enthusiasts who seek to expand their holdings. The project intertwines real-world artisanal mining, gold mining, and impact gaming, and top investors display bullish sentiments toward the project. NUGX is the best DeFi project for investors seeking high-utility projects to diversify their portfolios.

NUGX rivals innovative projects like Terra because its upcoming launch could create massive competition among other gaming tokens. The NuggetRush game offers a virtual mining adventure with rewards such as gold. Players can access in-game incentives by participating in battles, tournaments, and ranked plays. NUGX has garnered significant attention among investors and analysts anticipate its meteoric rise once it lists on top exchanges.

Those seeking the best DeFi project for 100x gains are rallying to NuggetRush. With over $3.8 million raised in the ongoing ICO and more than 270 million raised, early backers anticipate massive gains this quarter. This project is one of the top crypto coins in the meme community and that’s why this LUNA rival sees surging investor interest.

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Toncoin (TON) Rallies Global Investors With Its Unique Partnerships

TON Foundation collaborated with HashKey Group to boost the project’s ecosystem by supporting and nurturing innovative projects on the ecosystem. Following the project’s strategic partnership with HashKey, the project experienced a surge of over 1.5%. TON’s bullish momentum presents a promising opportunity for investors seeking fresh initiatives to leverage.

TON’s ecosystem provides mentorship networking opportunities to empower developers and investors on the platform. Despite the project’s stagnated prices and series of price corrections, Toncoin is preparing for a huge rally with its strategic partnerships. 

Terra Luna Classic (LUNC) Draws Investors With Its Secure Platform

 The Terra Luna Classic community has been in a frenzy following the massive decline in the project’s value. This decline follows the project’s poor performance despite the developments on the platform. Due to the project’s bearish trend, LUNC investors look to alternative opportunities like NuggetRush to expand their portfolios. NuggetRush rivals projects like LUNC due to its high growth potential. As the Terra Luna Classic community anticipates a price turnaround, NUGX continues to thrive as a promising opportunity.

Conclusion

NuggetRush is the project whales keep buzzing about because of its attractive features and multiple income-generating potential. NUGX outpaces projects like LUNC because of its solid fundamentals and community support. Despite Toncoin’s strategic partnership, investors look to NUGX for 10x portfolio growth once it lists on top exchanges. 

NuggetRush’s unique gameplay and support for artisanal miners in underdeveloped countries make it one of the best meme coins for long-term investments. Join the NuggetRush community today by participating in its ongoing ICO. Get NuggetRush today!

Visit NuggetRush Presale Website

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