Despite a strong March, crypto fundraising dropped 23% in Q1 2024 compared to Q4 2023.

Early-stage crypto deals surged 73% in Q1, suggesting investor interest in new projects.

Eigen Labs and HashKey Group led fundraising in Q1 with $100 million each.

Messari, a prominent source of insight into the crypto market, has revealed a 23% decrease in fundraising for crypto projects quarter-over-quarter. Messari noted that this decline is primarily attributed to an exceptional month of fundraising in Q4 last year, spearheaded by Bitcoin miners.

Although March’s fundraising volume was remarkable, it failed to match the figures generated in November 2023. Consequently, the overall fundraising volume at the end of the first quarter of 2024 represents a 23% drop from the previous quarter.

Source: Messari

According to the chart accompanying Messari’s update, the total number of deals in March exceeded 280, with the total amount surpassing the $1.2 billion threshold. These figures significantly defeat those recorded in February and January. 

For instance, fundraising in February was under $750 million, though deal counts surpassed 200. In January, approximately $1 billion in crypto fundraising volume was documented, with deal counts of lower than 200. These figures imply that February was the worst-performing month regarding fundraising volume for the just-concluded quarter.

Notably, similar metrics are observable in October and December 2023. November was the outlier, as it saw a staggering $2 billion in fundraising volume. The November figure made the numbers for Q1 2024 pale in comparison, as a cumulative $2.98 billion was realized compared to about $3.87 billion in Q4 2023.

Meanwhile, the data analytics firm highlighted a significant surge in early-stage deals for Q1 2024. In particular, Messari reported Messari a remarkable 73% increase in volume for early-stage deals and a 53% rise in deal count quarter-over-quarter. 

According to the intelligence platform, this trend underscores a bullish appetite for new opportunities in the market.

Notably, Eigen Labs and HashKey Group led the fundraising funds for Q1 2024, with $100 million each, followed by Optimism, with $89 million.

The post March Crypto Fundraising Hits $1.2B, But Q1 Still Registers 23% Dip appeared first on Coin Edition.

A strong community is a reason memecoins like WIF and FLOKI might continue to perform well.

Increasing development within the AI space has made participants bullish on FET, and others.

TradFi’s involvement in the tokenization of assets has validated the bullish thesis for RWA tokens.

Many narratives have gained the attention of market participants this cycle. But not all of them have stayed relevant for a long period. However, there are three that have remained on the lips of investors and traders alike which are meme coins, AI, and Real World Assets (RWAs).

But these sectors did not just pop out as there are reasons investors are bullish on them. In this piece, Coin Edition explains why all three may outperform other sectors and why participants have stuck their guts with them.

Memecoins

For memecoins, the strength of the community is one reason investors have kept them close. In 2021, a strong and loyal community helped Dogecoin (DOGE) and Shiba Inu (SHIB) hit mind-blowing heights.

In this cycle, the community of a meme coin like dogwifhat (WIF) ensures that the price produces incredible gains. According to CoinMarketCap, the total market cap of memecoins has grown to an incredible $59.12 billion.

If the cryptocurrencies sustain the momentum that they’ve shown since the beginning of the year, then the market cap could cross $100 billion before the bull market ends. Other memecoins to watch out for apart from WIF are Floki (FLOKI), Pepe (PEPE), and  Bonk (BONK).

AI Coins 

The buzz around Artificial Intelligence globally is a major reason AI-themed tokens have put up incredible performance since 2023. However, it does not seem like the hype will end soon. 

For instance, the trio of SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) recently announced plans for a merge. If or when the community approves this proposal, the price of AI tokens might skyrocket again.

Besides that, another factor that could fuel the price increase is the series of AI conferences scheduled for later in the year. Historically, conferences like this trigger buying pressure, and in the coming months, it might not be any different.

At press time, the AI category of tokens was worth $38.38 billion. Going forward, the value could be higher especially as the price had undergone a significant correction within the last few weeks.

Real World Assets (RWAs)

Real World Assets is another narrative that seems like it won’t just go away, and there are reasons attached to it. For some time, traditional institutions have been tokenizing some of their funds. This was further validated by BlackRock’s $100 million commitment to tokenized projects built on Ethereum (ETH).

Currently, the market cap of this category is about $52.48 billion. But with the emergence of tokens like Ondo (ONDO) and Mantra (OM), that figure may jump anytime soon. These, and more, are many reasons investors have remained bullish on these three narratives.

The post The Next Big Thing? Why Investors Are Bullish on Memecoins, AI, & RWAs appeared first on Coin Edition.

The Spot Bitcoin Market recorded a net inflow of $203 million on April 3, surpassing $12.6 billion in total net inflow.

BlackRock’s IBIT leads the charge with a net inflow of $308 million and a total net inflow of $14.77 billion.

Grayscale’s GBTC marks a net outflow of $198 million, with its total net outflow exceeding $15.5 billion.

In an astounding turn of events, the net inflow of the Spot Bitcoin ETF market has surpassed $12.6 billion, with an average inflow of $213.8 million. Prominent crypto analyst Crypto Rover, in his recent X update, revealed that the Bitcoin ETF market saw an astounding inflow of $203 million on April 5, marking 4 consecutive days of net inflows.

💥BREAKING: The Spot #Bitcoin ETF inflow yesterday was: +$203,000,000 pic.twitter.com/qFVpBwfEHF

— Crypto Rover (@rovercrc) April 6, 2024

Colin Wu, a Chinese crypto journalist, has shed light on SoSoValue’s data, providing details on the remarkable inflow of Bitcoin ETFs. Leading the charge is BlackRock’s IBIT, with a net inflow of nearly $308 million on the day. With this notable addition of inflows, BlackRock currently boasts a total historical net inflows of $14.77 billion.

Source: SoSoValue

Fidelity’s FBTC is also not far behind, with a net inflow of $83.02 million marked on April 5. The cumulative net inflow of FBTC, as per SoSoValue, is $7.96 billion.

On the third spot is Bitwise’s BITB, boasting a net inflow of $7.39 million. Reportedly, BITB has experienced a total net inflow of $1.66 billion since its launch.

Contrastingly, Grayscale’s GBTC has recorded a net outflow of $198 million on the same day. Thus, Grayscale maintains its negative inflows, marking a total net outflow of $15.5 billion.

Meanwhile, Bitcoin is trading below the previous all-time of $69k despite a slight increase of 1.65% over the last day. As of press time, Bitcoin is priced at $68,052, marking a 2.58% increase over the last month but a 2.84% decline in the last week. With a market cap of $1,338,505,091,878, Bitcoin maintains its top position in the crypto market. 

The post Breaking: Spot Bitcoin ETFs Mark 4 Consecutive Days of Net Inflows  appeared first on Coin Edition.

The SEC lawsuit against Terraform Labs and Do Kwon is nearing its conclusion, with closing arguments scheduled for this Friday.

Allegations include fraudulent activities resulting in a $60 billion investor loss in Terra-LUNA stablecoin.

After evidence and closing arguments, preliminary jury instructions will be replaced with detailed ones.

The U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and its co-founder, Do Kwon, is nearing its conclusion as the jury trial approaches its final stages. As reported by Reuters on April 5, closing arguments from the legal representatives of Terraform Labs and Do Kwon will be presented this Friday. 

The trial’s main points are allegations that Terraform and Kwon engaged in fraudulent activities. Thus, SEC claims that these dealings ultimately led to the collapse of their stablecoin, causing investors to lose $60 billion Terra-LUNA in 2022.

Throughout the proceedings, both sides have presented their respective evidence and arguments, aiming to sway the jury’s decision. As the trial draws to a close, these closing statements will provide one last opportunity for each party to summarize their case and persuade the jury.

The U.S. Securities and Exchange Commission (SEC) labeled accusations of deceit against the Singapore-based company and its co-founder, Kwon. SEC claims that Terra-USD’s boss deceived investors regarding the stability of TerraUSD, a stablecoin intended to maintain a value of $1. The commission has also accused the company of falsely asserting that Terraform blockchain’s integration into a Korean mobile payment app called Chai.

During the trial that began on March 25, attorneys representing Terraform and Kwon contended that the SEC misinterpreted statements and relied on witnesses incentivized by potential whistleblower rewards. The regulator actively seeks civil financial penalties and industry bans against Kwon and Terraform.

Kwon was apprehended in Montenegro in March 2023 and remained absent from the trial. However, the U.S. and South Korea, Kwon’s home country, have pursued his extradition on criminal charges. The co-founder was the brain behind the design of TerraUSD and Luna, a token tied to the TerraUSD.

The U.S. Securities and Exchange Commission estimates investor losses at more than $40 billion across both tokens. This loss occurred when TerraUSD failed to maintain its $1 peg in May 2022. 

As a result, several cryptocurrencies, including Bitcoin, witnessed a downtrend. This downward pressure expanded into the broader crypto market, resulting in multiple company bankruptcies in 2022.

According to the SEC, Kwon and Terraform Labs partnered with a third party to move significant quantities of TerraUSD to pump its price when the stablecoin dipped from its $1 peg in May 2021. Kwon purportedly attributed the rebound to TerraUSD’s algorithmic reliability, per the regulator’s assertions.

Furthermore, the SEC alleged that Kwon and Terraform misrepresented Terraform’s blockchain as the underlying technology facilitating transactions between consumers and merchants on the Chai payment app.

In the ongoing trial legal proceedings, Judge Rakoff briefed the jury on the case brought forth by SEC against Terraform Labs and Do Kwon. Following the conclusion of all evidence and closing arguments from both sides, the initial preliminary instructions given to the jury will be replaced by more detailed instructions.

During the trial, Brian Curran, Terraform Labs’ former head of communications, took the stand as a witness against the company. The former Terraform insider revealed insights into its alleged deceptive activities by the company and his former boss.

The post SEC vs. TerraLabs: Defense Presents Final Arguments to Jury in Do Kwon Case appeared first on Coin Edition.

Solana recently experienced transaction failures across 75% of transactions.

Team Lead Matt Sorg responded that the failure was not a bug but a feature of user protection.

Matt details the types of transaction results, pouring more light into the prevailing issues.

Solana’s network congestion and failed transactions have created a buzz in the community recently. Responding to the matter, Matt Sorg, the Tech and Product Lead at Solana, shared an article positing that a failed transaction is not a “bug” but a “feature of user protection.”

https://t.co/bsVVfaiGWG

— Matt Sorg 🍨 (@tamgros) April 5, 2024

Solana recently experienced transaction issues, with around 75% of transactions reportedly failed. According to a recent X post shared by Colin Wu, a Chinese crypto reporter on Wu Blockchain, the Solana network has been confronting delayed or failed transactions. Reportedly, the core issue is based on a QUIC implementation and an Agave client implementation.

Phantom shows that the Solana network is currently experiencing congestion and users' transactions may fail or be delayed. The core issue relates to a QUIC implementation, and the behavior of the Agave validator client on Solana when asked to process a large number of requests.… https://t.co/KuutKBbB0B

— Wu Blockchain (@WuBlockchain) April 6, 2024

Sorg asserted that the prevailing issues aren’t a matter of failed transactions. Ensuring that there are “known solutions” for the issue, he added, “

“Transaction reliability is incredibly important and the current status is unacceptable. The implication that there is a fundamental flaw in the network is incorrect. Solana is a highly efficient protocol that hasn’t nearly hit its scaling ceiling. This particular issue doesn’t hit the transaction processing part of the protocol and isn’t an issue of failed transactions.”

Unveiling the real connotation of the word “failure,” Sorg explained that a transaction failure is “an application-level functionality.”  Though the transactions are entitled as failed, they do not imply the protocol’s inability to process the logic or load.  He added, “When a transaction fails, the network is protecting consumers and users by checking the conditions of a transaction.”

Further, Sorg elaborated on the transaction results, which could be either “executed” or “dropped.” The execution level is marked when the transaction is included in a block, and the fee is paid. There are two subcategories for the level: Executed Successful and Executed but failed. When there is no error in the transaction, it is executed successfully, and if it returns an error, it is executed but failed.

Commenting on Solana’s recently reported transaction failures, Sorg referred to the result as “dropped.” He added that the troubles can arise when “any of the conditions in the transaction logic aren’t met.”

The post Solana’s Team Lead Ensures “Known Solutions” for Transaction Failures appeared first on Coin Edition.

ZA Bank in Hong Kong is discussing establishing cash reserve accounts with potential stablecoin issuers.

A ZA Bank executive disclosed engaging with about eight prospective corporate clients exploring stablecoins.

The HKMA has initiated accepting applications for trials concerning stablecoin issuance.

ZA Bank in Hong Kong is currently in discussions with potential stablecoin issuers regarding establishing accounts for the cash reserves supporting these tokens. Details of this development were captured by Bloomberg, citing Devon Sin, General Manager of Business Banking & Lending at ZA Bank.

Devon Sin revealed that the digital bank is engaging with approximately five to eight prospective corporate clients, both existing and new, who are exploring the possibility of launching stablecoins. Upon official admission to a regulatory sandbox by the Hong Kong Monetary Authority (HKMA), these clients will be provided with fiat reserve accounts.

During an interview, Sin highlighted the diverse applications of stablecoins, ranging from wholesale and retail markets to tokenization and overseas remittance solutions. “We are keen to explore how to put them into real-world use with the potential issuers,” the bank executive added.

Devon Sin mentioned that ZA Bank will contemplate offering custody services for virtual assets, including stablecoins, and will explore the necessary infrastructure requirements.

Following a notable presentation to the Web3 sector by ZA Bank, addressing grievances regarding limited banking services, Sin stated that the bank has facilitated transfers exceeding $1 billion from over 100 Web3 clients. Meanwhile, as of 2022, the eight virtual banks licensed in Hong Kong have reported losses in their annual reports. However, according to Sin, ZA Bank aims to achieve break-even status this year.

Notably, Hong Kong is actively striving to cultivate a digital asset hub to revive its status as a prominent financial center. Recently, the city granted licenses to its inaugural cryptocurrency trading platforms under updated regulations. Last December, Hong Kong regulators disclosed their readiness to list spot crypto exchange-traded funds (ETFs). 

Also, the HKMA is formulating a framework tailored for stablecoins pegged 1:1 to fiat currencies, typically supported by cash and bond reserves. Since last month, the HKMA has initiated accepting applications for trials concerning stablecoin issuance. As of April 3, no projects had commenced.

The post ZA Bank Explores Providing Hong Kong Accounts for Stablecoin Issuers appeared first on Coin Edition.

An analyst said BTC had formed solid support on the 4-hour chart.

Another analyst encouraged his followers to stack more altcoins or meme coins.

The 50 EMA crossed the 200 EMA on the BTC daily chart, suggesting a rise toward $75,000.

Crypto analyst Ali Martinez posted on X, saying that Bitcoin (BTC) had formidable support on the 4-hour chart that could prevent it from dropping. According to him, this support might ensure that the price rebounds from the recent lows.

However, he also mentioned that if BTC does not break through the 200 EMA, then the value of the coin might decrease.

The 200EMA on the #Bitcoin four-hour chart has been formidable support. Since early February, it has prevented #BTC from dropping further. For this reason, I'm paying close attention to this level because if it holds, it guarantees a rebound, but if it breaks as it did in… pic.twitter.com/cnfruT9wUJ

— Ali (@ali_charts) April 2, 2024

However, another analyst with the handle SlumDOGEMillionaire told his followers not to put a lot of money into Bitcoin. According to him, the coin might not be able to produce high returns as it has done in previous cycles.

SlumDOGEMillionaire then added that altcoins like Solana (SOL), and Avalanche (AVAX) could provide greater returns. Besides these cryptocurrencies, the analyst also encouraged his followers to keep an eye on meme coins. 

Some of the meme coins he mentioned include dogwifhat (WIF), Pepe (PEPE), and BRETT on Base. At press time, Bitcoin’s price was $66,887. But before the recent decline, the value climbed above $69,000.

I don’t know who needs to hear this but if you want to make some serious money this bull run do not buy #Bitcoin Seriously – you might 3X at best.If #BTC goes go $200K, that’s about as much as you’re going to get, best bull case scenario it goes to $250K 🤷🏼‍♂️Still only a 3.5X…

— SlumDOGE Millionaire (@ProTheDoge) April 5, 2024

Bitcoin Price Analysis

From a technical perspective, the daily chart showed that Bitcoin showed bullish potential. This was evident in the trend shown by the Exponential Moving Average (EMA). As of this writing,  the 50 EMA (blue) had crossed over the 200 EMA (orange).

However, if BTC falls below $63,279, the price drops below $57.105. On the other hand, if Bitcoin sustains its momentum at a higher level, the price might extend toward $70,000. In a highly bullish case, the value of Bitcoin might climb past $75,000.

BTC/USD Daily Chart (Source: TradingView)

Meanwhile, traders might need to be careful as volatility around the coin might surge. Should this be the case, BTC might experience massive price fluctuations which could either capitulate the value or drive it higher.

In conclusion, the opinion that PEPE, WIF, SOL, and some other altcoins might outperform Bitcoin could be valid considering the difference in market cap.

The post Bitcoin or Not: Analysts Reveal Different Long-Term Predictions appeared first on Coin Edition.

According to ARKHAM report, Bitcoin total value currently stands at $20,183,095.86, with a recent decline of $55.56K, likely reflecting minor day-to-day fluctuations. Notably, Bitcoin constitutes a significant portion of this portfolio, with holdings totaling 300.348 BTC valued at $20.18M, as each Bitcoin is priced at $67,199.00, down $185.00 from its previous value. 

Source: ARKHAM 

Alongside this insight, BlackRock’s IBIT Bitcoin ETF experienced a notable surge in inflows on Wednesday, reflecting a positive shift in sentiment within the cryptocurrency market.

The influx of $113 million marked a turnaround from Monday’s net outflows of $85.7 million, primarily driven by Grayscale’s GBTC. The slowdown in GBTC outflows, totaling $75.1 million on Wednesday, contributed significantly to this reversal.

Farside data reveals a total net inflow of $12.2 billion, with Fidelity’s FBTC leading with $116.7 million, followed by Blackrock’s IBIT with $42 million, and Bitwise’s BTIB recording $23 million in inflows. Other ETFs witnessed relatively modest inflows, each adding less than $4 million. This resurgence in inflows contrasts sharply with the earlier part of the week, underscoring the dynamic nature of cryptocurrency investment.

The easing of outflows from Grayscale’s GBTC ETF is particularly noteworthy, with Wednesday’s figure marking its lowest since February 26. This positive development follows a period of significant selling pressure triggered by Genesis Global Holdco LLC’s potential sale of 35.9 million GBTC shares, valued at around $2 billion. Genesis received permission from the U.S. Bankruptcy Court for the Southern District of New York to proceed with the sale on February 14.

One distinguishing factor among the various ETFs is the fee structure, with GBTC charging a higher fee of 1.5% for its spot Bitcoin ETF compared to FBTC and IBIT, which charge 0.25%. Despite outflows and complaints, GBTC appears unlikely to lower its fee in the near term.

Equity mutual funds have seen $3.5T of outflows in past 10yrs yet their assets has jumped by $6T to reach $14T bc stocks up 280% in that time. This prob the best eg of the "bull market subsidy" there is and why $GBTC likely not motivated to lower fee despite outflows/complaints pic.twitter.com/z47TFeqmVq

— Eric Balchunas (@EricBalchunas) April 3, 2024

Bloomberg ETF analyst Eric Balchunas attributes this to the bullish market conditions, likening it to the situation with equity mutual funds, which have seen significant outflows but have continued to increase in assets due to overall market performance.

The post BlackRock’s IBIT Bitcoin ETF Sees Surging Inflows As GBTC Outflows Ease appeared first on Coin Edition.

Binance enforces strict KYC requirements for sub-accounts to boost compliance.

Unverified sub-accounts risk losing Binance Link Program access.

Communication solely with Exchange Link holders underscores user responsibility.

In a recent update, Binance has introduced stringent identity verification requirements for all its sub-accounts under the Binance Link Program, aiming to enhance compliance standards. According to the update, the exchange has been imposing restrictions on sub-accounts that lack the necessary Know Your Customer (KYC) documentation since March 20, 2024. 

Binance Exchange Link: Mandatory Identity Verification (KYC) Requirementshttps://t.co/dtZzWa0xhQ

— Binance Announcement (@BNAnnouncement) April 5, 2024

Moreover, the firm explained that on May 20, 2024, unverified sub-account holders will face full access restrictions and lose the ability to use Binance Link Program services. Concurrently, the updated policy mandates that Exchange Link account holders integrate with the Link-KYC module to ensure all sub-accounts comply with enhanced standards. 

This includes providing detailed information on behalf of their sub-account holders, such as Source of Funds, Source of Wealth, and Proof of Address. Emphasizing the importance of complete and accurate user information for successful onboarding, Binance asserted that it will directly communicate with Exchange Link account holders only and will not be responsible for communicating with sub-account users.

Additionally, Binance may request a Politically Exposed Persons (PEP) Declaration to further scrutinize sub-account holders for compliance purposes. Sub-accounts with incomplete KYC information will face various restrictions, including limitations on deposits, spot trading, futures trading, and margin trading.

In some cases, funds may be frozen and access to sub-accounts restricted for legal and compliance reasons. Binance has also set an administrative fee for the appeal process regarding misplaced deposits, emphasizing the need for Exchange Link account holders to keep their sub-account users informed.

The announcement wraps up by mentioning that access restrictions could apply if Binance Exchange Link account holders are unreachable, unresponsive, or uncooperative. As a result, Exchange Link account holders might see their accounts downgraded to corporate status, with unused sub-accounts being removed.

The post Binance Implements Mandatory KYC for Sub-Accounts in Compliance Push appeared first on Coin Edition.

Chief legal officer Amanda Tuminelli said crypto may need the Supreme Court’s intervention.

The view comes amid two district judges issuing conflicting crypto asset classification rulings.

Pundits suggest a higher court could reverse the XRP victory ruling.

Participants in the crypto market continue to clamor for clear crypto rules from U.S. regulators, particularly from the SEC, infamous for charging crypto firms with violating federal security laws.

A significant breakthrough emerged when U.S. District Judge Analisa Torres ruled against the SEC in July 2023 that XRP is not a security. However, the SEC recently secured a victory over crypto exchange Coinbase regarding how crypto assets may classify as security.

In particular, U.S. District Judge Katherine Failla sided with the SEC by ruling that tokens sold on exchanges like Coinbase qualify as investment contracts. Meanwhile, Judge Torres rejected this view in the XRP case. She ruled that such transactions occur through blind bid/ask trades and, hence, do not classify as investment contracts.

Will Crypto Have to go to the Supreme Court For Clarity?Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, joins me to discuss this and more. @amandatums WATCH ▶️ https://t.co/MDHkmszE7YTopics:– #DeFi Education Fund's Mission – Suing the #SEC over the Beba… pic.twitter.com/wX7eQlgDTH

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) April 4, 2024

These opposing rulings from two federal courts in the United States have sparked speculations that a higher court could reverse the XRP victory ruling. Charles Gasparino, a senior correspondent at FOX Business Network, recently raised this possibility, citing securities lawyers. However, other prominent legal figures in the community keenly contested the view.

Accordingly, these uncertainties have led to speculation that the crypto industry may have to move up to the U.S. Supreme Court to get clarity on how to categorize crypto assets. Amanda Tuminelli, the Chief Legal Officer at the DeFi Education Fund, weighed in on the discussion in a podcast with Tony Edward.

According to Tuminelli, the issue is likely headed for the Supreme Court. She pointed out that if the Fifth Circuit Court of Appeals diverges from the Second Circuit’s decision, it would create a circuit split. In such a scenario, the Supreme Court typically resolves the split. 

Moreover, the legal expert explained that the quickest route for the cases to reach the Supreme Court would be if appeals occur in different regions and yield conflicting outcomes. Such a development makes it imperative for the Supreme Court to intervene and provide a definitive ruling.

The post Will Crypto Have to Go to The Supreme Court For Clarity? appeared first on Coin Edition.

W was on the verge of forming a bullish flag, indicating that the price might rise to $1.80 in 2024.

By 2026, the price of the token is expected to hit $6.45 but might be bearish in 2027.

In 2030, W’s price might have surpassed $10.50 and probably hit $11.87.

Many new projects have been springing up in 2024, and Wormhole is one of them. Though the project started development a long time ago, it was able to build a loyal community and rewarded the early users recently.

In this article, Coin Edition discusses the potential of W and the price predictions from 2024 to 2030.

Table of contents

Wormhole (W) Real Time Market Status

What is Wormhole?

W Current Market Status

Wormhole (W) Price Analysis

Wormhole (W) Price Analysis- Bollinger Bands

Wormhole (W) Price Analysis- Relative Strength Index (RSI)

Wormhole (W) Price Analysis- Moving Average Convergence Divergence

Wormhole (W) Price Prediction 2024

Wormhole (W) Price Prediction- Resistance and Support Levels

Wormhole (W) Price Prediction 2025

Wormhole (W) Price Prediction 2026

Wormhole (W) Price Prediction 2027

Wormhole (W) Price Prediction 2028

Wormhole (W) Price Prediction 2029

Wormhole (W) Price Prediction 2030

Wormhole (W) Price Prediction 2040

Wormhole (W) Price Prediction 2050

Conclusion

FAQ

Wormhole (W) Real Time Market Status

HTTP Request Failed... Error: file_get_contents(https://api.tokenncoin.com/coins/info?name=w): Failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found What is Wormhole?

Wormhole is a project built to power multichain applications. Beyond this feature, the project gives developers access to liquidity while users of over 20 blockchains can participate in governance, trade DeFi, and own NFTs with the network.

Big firms like Uniswap and stablecoin issuer Circle trust Wormhole as the platform has helped in facilitating cross-chain transactions worth billions of dollars.

W Current Market Status

Wormhole’s price as of this writing was $0.97, representing a 29.75 % decrease since the project launched. The price decline could be linked to the profit-taking from eligible recipients of the W airdrop.

Like the price, the trading volume of the cryptocurrency also fell. At the time of writing, W’s 24-hour trading had decreased by 58% to hit $720.56 million. The market cap, on the other hand, was $1.75 billion and was ranked 64th by CoinMarketCap.

When it comes to the supply, data showed that it has a total and maximum supply of 10 billion tokens. However, only 1.80 billion were in circulation. W is available on many exchanges including Binance, OKX, Gate.io, and Bybit. You can also find the token on other exchanges besides these four.

Wormhole (W) Price Analysis

To predict W might be challenging because it only launched a few days ago. However, that does not mean that technical indicators cannot identify certain trends the token might display. Therefore, this section will give an in-depth analysis of W’s short-term price action. Also, you will learn about the price predictions from 2024 to 2030.

Wormhole (W) Price Analysis- Bollinger Bands

The Bollinger Bands (BB) on the W/USD 1-hour timeframe showed that volatility around the token has started to increase. Previously, the band contracted. However, the recent expansion showed that W might have to deal with significant price swings in the coming days.

From a bullish perspective, W’s price might hit $1.23. On the other hand, a bearish forecast places the price at $0.91.

W/USD 1-Hour Chart (Source: TradingView) Wormhole (W) Price Analysis- Relative Strength Index (RSI)

Indications from the Relative Strength Index (RSI) showed that W  was oversold on April 4 as the reading fell below 30.00. But at press time, it seemed that bulls had come to the token’s rescue as the RSI reading increased.

However, the momentum was not yet completely bullish as it was still below the neutral area. If buying pressure increases, then bulls might completely take charge of the momentum and W’s price might recover.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Analysis- Moving Average Convergence Divergence

The 30-minute chart showed that the Moving Average Convergence Divergence (MACD) was positive. However, the short and long EMA were below the zero midpoint, indicating that W had not exited the claws of bears yet.

Despite the indications, the MACD showed that W has the potential to bounce. If the EMAs climb toward the positive region, then the bullish bias might be validated. If not the bearish momentum might continue for some time.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Prediction 2024

According to the 1-hour chart, W had formed a descending channel, indicating high selling pressure. However, exhaustion might soon appear and sellers might lose hold of the momentum. 

If this happens, W might break out and form a bullish flag. Should this be the case and buying pressure increases, the price of the token might climb toward $1.80 in the short term.

A look at the Awesome Oscillator (AO) showed that the reading was negative. However, green bars on the indicator suggested that a bounce could be close. For 2024, W’s price is expected to recover from the lows, and by the end of the year, it could rise to $3.85.

W/USD 1-Hour Chart (Source: TradingView) Wormhole (W) Price Prediction- Resistance and Support Levels

On April 3, W faced rejection as it attempted to hit $1.60. As a result of that, the price fell as low as $0.95. However, bulls considered this spot as an ideal value to build support. Although the action has not yielded a notable result, it is unlikely for W to decline below $0.90.

On the upside, the token might face resistance at $1.24 if the price swings upwards. If successfully breached, the price might jump toward $1.80. But that would depend on the resistance at $1.59. Failure to break through the overhead resistance might send W back below $1.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Prediction 2025

By 2025, Wormhole is expected to be a top 50 project. If this is the case, the price of the token might increase and probably hit $4.50.

Wormhole (W) Price Prediction 2026

Wormhole boasts of a loyal community since it was in the Testnet stage. As it stands, it does not seem like the community would leave the project behind. Should this be the situation, there might be a surge in the adoption of W in 2025 which could place its price prediction at $6.45 in 2026.

Wormhole (W) Price Prediction 2027

By 2027, the price of W might slow down its bullish trajectory. However, that does mean that it would go lower than the value of 2024. Therefore, the price prediction for 2027 could be $2.80.

Wormhole (W) Price Prediction 2028

2028 is projected to be a bullish year for the crypto ecosystem at large. As a result, the prices of tokens like W might surge. As such, the price might hit $8 in 2028.

Wormhole (W) Price Prediction 2029

In 2029, the blockchain Wormhole interacts with might have surpassed the current number. Hence, the number of new addresses buying W might increase. This places the price prediction at $10.50.

Wormhole (W) Price Prediction 2030

In 2030, W’s price could rally very high. Several factors could drive this hike, including increased volume in tokens bridged on the network and capital inflow. Thus, the price could hit $11.87 in 2030.

Wormhole (W) Price Prediction 2040

The price of W is expected to remain in the double-digit region by 2040. While there could be a correction leading to the year, it is projected that the value could end up at $14.39.

Minimum Price  Average Price Maximum Price $9.36 $12.04 $14.39

Wormhole (W) Price Prediction 2050

By 2050, cryptocurrency should have gained massive traction and adoption across nations. Hence, the price prediction for W could be around $18.74.

Minimum Price  Average Price Maximum Price $13.38 $14.25 $18.74

Conclusion

In conclusion, W seems like a project that would attract a lot of users depsite its recent drawdown. As mentioned earlier, the token is still in the price discovery stage. Once the selling pressure settles, then buyers and sellers will decide on the particular trend for the token. In the long run, W’s price might jump but to profit from its, you need to find a good entry.

FAQ

What is W?

W is the native cryptocurrency of Wormhole, a platform that powers multichain applications.

How do you buy W?

You can buy W by going to different exchanges like Bitget, Binance, Gate.io, or Bybit.

Is W a good investment?

W can be a good investment even though it’s still early days. One of the reasons for this is because it grants users access to bridge between a lot of blockchains. Hence, demand for the token might increase, and this might push the price higher.

What is W’s all-time high?

W’s all-time high was $1.59 on April 4, 2024.

Will W reach $5 soon?

W can reach $5. But it is uncertain if the token will hit the price soon. However, if the hype around the project before it was launched stays the same or improves, then W can hit $5 within some months.

What is the maximum supply of W?

The maximum supply of W is 10 billion tokens.

Will W surpass its current ATH?

Yes, W can surpass its current ATH as it seems to be in the price discovery stage. Once, the airdrop addresses stop selling, the price of the token might consolidate for a while before a rally might begin.

What is the lowest price of W?

The lowest price of W was $0.95 on April 5, 2024.

Who is the founder of W?

The founder of Wormhole is Robinson Burkey.

Which year was W launched?

W was launched in 2024.

How do I store W?

You can store W on a crypto wallet depending on the blockchain you utilize. You can also store the tokens on exchanges where you buy them.

What will be the price of W in 2024?

W’s price might be $3.85 by December 2024.

What will be the price of W in 2025?

It is expected that W hit $4.50 in 2025.

What will be the price of W in 2026?

In 2026, W’s price could be $6.45.

What will be the price of W in 2027?

By 2027, W’s price is expected to undergo a correction that could drive the price down to $2.80.

What will be the price of W in 2028?

In 2028, W’s price might be $8.

What will be the price of W in 2029?

The price of W is expected to hit $10.50 in 2029.

What will be the price of W in 2030?

By 2030, W’s price could be $11.87.

What will be the price of W in 2040?

The price of W could be $14.39 by 2040.

What will be the price of W in 2050?

W is expected to hit $18.74 in 2050.

The post Wormhole (W) Price Prediction 2024-2030: Will W Price Hit $5 Soon? appeared first on Coin Edition.

Bitcoin shows muted volatility, hinting at a possible stagnation phase.

A breakout above $70K could redefine Bitcoin’s market outlook.

A shift in Bitcoin supply dynamics signals a move toward speculation.

Bitcoin (BTC) has recently demonstrated a noteworthy consolidation, with its price oscillating between $69K and $64K over a week, marking a period of muted volatility. This change contrasts with its usual high volatility, hinting at a stagnation phase even though Bitcoin is traditionally seen as a high-growth asset.

Market observers and crypto enthusiasts have kept a close eye on Bitcoin’s movements, especially as the cryptocurrency hovers near key resistance levels. Insights from Captain Faibik, a notable figure in the crypto space, suggest that Bitcoin is on the cusp of a potential breakout, provided it can surpass the $70K resistance mark. 

$BTC is Bouncing back Nicely but still Consolidating within the Triangle. Bulls must Clear the 70k Resistance area to Confirm the upside Breakout.#Crypto #Bitcoin #BTC pic.twitter.com/NxAz8Y1ktq

— Captain Faibik (@CryptoFaibik) April 5, 2024

This perspective aligns with the broader anticipation of an increase in volatility, which could redefine the current market outlook. A recent Glassnode report sheds light on the underpinnings of this trend, adding a layer of depth to the analysis of Bitcoin’s market position. It highlights a key shift in the Bitcoin supply dynamic, as evidenced by on-chain data.

Notably, the report reveals the reactivation of dormant Bitcoin supply after a period of unparalleled tightness, offering key insights into the cryptocurrency’s market behavior. The gap between Long-Term Holder (LTH) supply and Short-Term Holder (STH) supply is narrowing, a phenomenon typically observed as prices ascend and unrealized gains entice LTHs to sell.

Bitcoin Supply Dynamic: Long/Short-Term Holder (Source: Glassnode)

Since December 2023, LTH supply has markedly decreased, dropping by 900,000 BTC from a peak of 14.91 million BTC. Notably, outflows from the GBTC trust account for approximately one-third of this reduction, equating to around 286,000 BTC. 

Meanwhile, STH supply has swelled by 1.121 million BTC, not only absorbing the distributed LTH supply but also adding an extra 121,000 BTC from secondary market acquisitions through exchanges.

This shift from long-term holding to more speculative behavior indicates a changing landscape within the Bitcoin ecosystem. The report’s analysis of the ratio between LTH and STH supplies further corroborates this transition, signaling a broader trend towards distribution, profit-taking, and speculation during macro up-trends.

The post Bitcoin Rally in Sight with Potential Break Above $70K Despite Volatility Dip appeared first on Coin Edition.

PlanB has predicted that Bitcoin will reach $100,000 in 2024.

According to PlanB, BTC’s target for the next bull run is $500,000.

The analyst showed that Bitcoin S2F, Market Cycle, and RSI suggest an exponential growth path for BTC.

Renowned cryptocurrency analyst identified as PlanB on social media has predicted that Bitcoin would reach $100,000 in 2024. In a recently uploaded video, the analyst noted that Bitcoin could climb above the projected price, considering the flagship crypto’s recent trend.

Using the Bitcoin Stock-to-Flow Model (S2F), PlanB revealed that there would be a steep rise for BTC after breaking above the recently achieved all-time high (ATH). He showed that the target for the upcoming bull run following the next Bitcoin halving is $500,000. However, he clarified the rise would be gradual due to the cryptocurrency’s growth pattern.

According to PlanB, achieving the full potential of a bull run takes several months. He used Bitcoin’s historical data to show that a halving-influenced rally could take over a year. Hence, he predicts that Bitcoin will establish its next top in 2025 and could be higher than the projected $500,000.

Continuing his analysis, PlanB showed that the Bitcoin market is in the early stages of the next bull cycle. Compared with the previous bull cycles, he noted this trend would continue for about one year. However, he highlighted that there will be increased volatility along the line, with multiple retracements characterizing the bull run.

PlanB employed the RSI indicator, showing that Bitcoin’s behavior in this bull cycle differs from previous ones. He noted that the RSI is at its highest pre-halving level ever, suggesting there would not be characteristic pre-halving diminishing returns this time.

The renowned analyst thinks Bitcoin will stay on an exponential return growth path, aligning with the S2F Model. According to PlanB, Bitcoin’s behavior between April and May would provide a significant indicator ahead of the bull run. He thinks the RSI level at the point when the bull run sets in would provide crucial information on how the trend would develop.

The post Bitcoin Targets $500K in the Upcoming Bull Run: Crypto Analyst appeared first on Coin Edition.

Two unknown wallets withdraw 304 million DOGE from Binance, totaling $53 million.

April sees a surge in large DOGE transactions across major exchanges.

Nearly 995.3 million DOGE moved in recent transactions, worth over $173 million.

In a recent development by blockchain analytics firm Whale Alert, an enormous transaction involving Dogecoin (DOGE) has caught the attention of the cryptocurrency community. Data indicates that two unknown wallets withdrew 304,588,737 DOGE from the Binance exchange. This transfer, valued at approximately $53,125,088, indicates significant activity within the DOGE market. The transaction, noted for its efficiency and low cost, incurred a mere fee of 0.20484458 DOGE, equivalent to $0.03.

This event is part of a broader trend of increased activity by cryptocurrency whales, particularly involving major exchanges such as Coinbase and Robinhood. Whale Alert’s analysis reveals that, since the beginning of April, there has been a noticeable uptick in large DOGE transactions. Cumulatively, 396.4 million DOGE were moved in relation to Robinhood, and 294.4 million DOGE were associated with Coinbase transactions. Together with the recent Binance withdrawal, these transactions total nearly 995.3 million DOGE, amounting to $173,596,045.

🚨 🚨 234,684,280 #DOGE (43,614,248 USD) transferred from unknown wallet to #Coinbasehttps://t.co/SfHYecm4dj

— Whale Alert (@whale_alert) April 2, 2024

The surge in DOGE transactions comes amid a volatile period for the cryptocurrency. Over the past 24 hours, the price of Dogecoin has experienced a significant decline, dropping more than 5% from $0.1872. This downturn is part of a larger trend, with DOGE losing over 24.3% of its value since March 27, when it reached a local high of $0.2289. As of press time, the dog-themed memecoin is being traded at a rate of $0.1704 with 24-hour highs and lows of $0.1881 and $0.1706, respectively.

Further insights from Coinglass highlight the impact of these market movements on DOGE’s trading dynamics. The platform noted a 5.81% decrease in open interest for Dogecoin, alongside a 13.52% reduction in trading volume. 

These indicators suggest a bearish outlook for DOGE, with decreased market activity and dwindling investor interest. The current trend raises questions about Dogecoin’s potential to reach the $1 mark, a milestone long anticipated by supporters of the meme-inspired cryptocurrency.

The post Binance Witnesses Massive DOGE Transfer: Market Impact Ahead? appeared first on Coin Edition.

Whale Alert has spotted a significant transaction at the Tether Treasury.

According to Paolo Ardoino, the recently minted assets represent an inventory replenishment on the Ethereum Network.

A Tether user noted that balance in large transactions highlights the importance of mindful resource management.

Whale Alert, the popular wallet tracker, has spotted significant transactions on Tether Treasury. In two recent posts, Whale Alert shared that 100 million USDT had been transferred from Bitfinex to Tether Treasury earlier today.

🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,008,750 USD) transferred from #Bitfinex to Tether Treasuryhttps://t.co/gtMvu4nUry

— Whale Alert (@whale_alert) April 5, 2024

In a separate post, Whale Alert noted that the Tether Treasury also minted 1 billion USDT today. Responding to the latter, Tether CEO Paolo Ardoino noted that the recently minted assets represent an inventory replenishment on the Ethereum Network.

According to Ardoino, the replenishment is an authorized but not issued transaction. He further explained that the minted amount would be used as inventory for the next period of issuance requests and chain swaps.

Tether’s market cap increased by 0.46% in the last 24 hours, reaching $106.62 billion, according to CoinmarketCap. Tether’s circulating supply was 106.6 billion USDT, with a total supply rising to 109.94 billion USDT at the time of writing.

PSA: 1B USDt inventory replenish on Ethereum Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.

— Paolo Ardoino 🍐 (@paoloardoino) April 5, 2024

A user responding to Whale Alert’s post on the transfer from Bitfinex to Tether Treasury showed optimism about the transaction. According to him, balance in large transactions highlights the importance of mindful resource management. He believes such actions are fundamental in shaping the shared Tether ecosystem.

A crypto trader responding to the same post clarified that the alert does not imply Tether is “mindlessly printing” digital tokens. According to him, the action is about people depositing enough crypto so that their balance sheet allows a print.

Tether is the most used stablecoin, with a market capitalization that ranks 3rd among all the cryptocurrencies. 

The post Whale Alert Spots Significant Transactions Involving Tether Treasury appeared first on Coin Edition.

Ripple’s plan to introduce stablecoin brings along scepticism over integration with XRP in payments.

Bill Morgan questions the necessity of combining stablecoin with XRP in crypto-enabled payments.

Ripple aims to bridge traditional finance and crypto through stablecoin launch on XRP Ledger.

Famous Attorney and key figure in the digital asset world, Bill Morgan, has publicly questioned Ripple CEO Brad  Garlinghouse’s announcement regarding the company’s forthcoming stablecoin launch.

You say you will use the new stablecoin together with XRP in crypto enabled payments. I have assumed XRP was sufficient of itself as a bridge in payments so how are they used together or why do they need to be used together. Are they options to use as the payment bridge and… https://t.co/PLdB4H3cUE

— bill morgan (@Belisarius2020) April 4, 2024

Yesterday, Ripple had announced its intention to introduce a stablecoin pegged 1:1 to the USD, to be hosted on the XRP Ledger and Ethereum. The decision came in response to the flourishing stablecoin market, which is valued at around $150 billion, with projections indicating exponential growth to exceed $2.8 trillion by 2028.

The controversy started when Morgan responded to Garlinghouse’s tweet, applauding Ripple’s initiative to bridge traditional finance with the crypto sphere through the introduction of a stablecoin.

Morgan raised critical inquiries about the necessity of integrating the stablecoin with XRP, which is Ripple's native cryptocurrency, in crypto-enabled payments.

Morgan's tweet hinted at concerns within the community regarding Ripple's strategic move.

"You say you will use the new stablecoin together with XRP in crypto enabled payments. I have assumed XRP was sufficient of itself as a bridge in payments so how are they used together or why do they need to be used together. Are they options to use as the payment bridge and customers choose one or the other?"

Garlinghouse's initial tweet outlined Ripple's rationale behind the stablecoin launch which was focused on the company's experience, its regulatory compliance and the global network coverage as foundational pillars for advancing crypto-enabled payments using both XRP and the forthcoming stablecoin.

The post Crypto Community Divided Over Ripple’s Plan to Introduce Stablecoin appeared first on Coin Edition.

Charles Hoskinson believes a make-believe agenda is ongoing in the crypto industry.

Hoskinson thinks some characters in the crypto space create decoy activities to promote certain projects.

The Cardano founder believes some people create those events to cause outrage in the Cardano ecosystem

Cardano founder Charles Hoskinson believes a make-believe agenda is ongoing in the crypto industry. In a recently uploaded video, Hoskinson argued that some characters in the crypto space create decoy activities to promote some selected projects. According to him, those characters do so while pretending the activities reflect the situation in the crypto industry. 

Crypto Kayfabe https://t.co/KANFSS0WjT

— Charles Hoskinson (@IOHK_Charles) April 4, 2024

Hoskinson cited the exclusion of entrepreneurs in the Cardano ecosystem in a recent poll, claiming that the intent was to create momentum for particular people and projects. He considered the poll and other similar activities “Kayfabe.” Hoskinson thinks they are staged and do not represent the actual situation in the crypto industry.

In connection to Cardano, Hoskinson thinks some people create those events to cause outrage in the Cardano ecosystem. He noted that the Kayfabe could cause unsuspecting users to panic and fall into a Fear Uncertainty, and Doubt (FUD) situation.

Despite the absurdity of the observed crypto Kayfabe, Hoskinson told the Cardano community he would gladly create a social space for people to learn about the network based on their desire. He noted that Cardano, as an ecosystem, is far beyond the competitive issues portrayed in the crypto space. 

The Cardano founder highlighted some cross-chain activities happening on the Layer-1 blockchain. He thinks the value that Cardano creates is enough to attract users to the blockchain network, noting the project does not need to do Kayfabe to get some attention.

Hoskinson emphasized the importance of governance in the crypto space, noting the depth of discourse required for it. According to him, governance requires good communication, foresight, compromise, and consent. However, he thinks the crypto space tends to be shallow over the subject, especially during the bull market.

He noted that Cardano is one of the few communities with the capability for true governance in the crypto space. According to him, the Cardano community can inspire and lead the rest of the industry in this department.

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Grayscale Investments adjusts its portfolios, removing ADA from GDLC fund in accordance with index methodology.

Charles Hoskinson reacts to this rebalancing with a “Wall Street give; Wall Street take,” comment

GDLC’s new composition stands as BTC 70.96%, ETH 21.84%, SOL 4.52%, XRP 1.73%, AVAX 0.95%.

In response to Grayscale Investments’ announcement regarding adjustments to its cryptocurrency portfolios, Charles Hoskinson, the founder of Cardano, shared his opinion on the decision to remove Cardano (ADA) from the Grayscale® Digital Large Cap Fund (GDLC). 

Wall Street give; Wall Street take https://t.co/dkyrhHW4WS

— Charles Hoskinson (@IOHK_Charles) April 5, 2024

Grayscale, the world’s largest crypto asset manager, conducted a comprehensive review in accordance with the CoinDesk Large Cap Select Index methodology, leading to the rebalancing of GDLC and the removal of ADA.

Hoskinson’s reaction, “Wall Street give; Wall Street take,” puts lights on the uncertain nature of investment strategies and the fluctuations within the cryptocurrency market. His comment shows the nature of the cryptocurrency and digital asset environment and how it is controlled by Wall Street sometimes.

Effective from April 3, 2024, the revised portfolio composition of GDLC includes Bitcoin (BTC) at 70.96%, Ethereum (ETH) at 21.84%, Solana (SOL) at 4.52%, XRP at 1.73%, and Avalanche (AVAX) at 0.95%. 

Meanwhile, Grayscale’s other funds, such as the Grayscale DeFi Fund (DEFG) and the Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE), have also been readjusted according to their respective index methodologies.

Grayscale has made strategic adjustments to maintain diversified portfolios and optimize fund performance in line with market trends. However, the company has received some comments from the media regarding the lack of updates on its Bitcoin holdings. The latest update from April 1 shared by Lookonchain the on-chain analytics firm, highlights this issue.

The post Charles Hoskinson Reacts to Grayscale Removing ADA from GDLC appeared first on Coin Edition.

Dan Gambardello revealed that 75% of transactions on Solana are currently failing.

Gambardello favored Cardano over Solana, calling it a “top blue chip” blockchain.

An X user highlighted that SOL developers are working on major fixes. 

Crypto enthusiast Dan Gambardello, who is also the founder of Crypto Capital Venture, said that he has used both Solana (SOL) and Cardano (ADA) and prefers the latter in any case.

Around 75% of Solana transactions failing.Let me start by saying to be 100% fair, I was trading a newly launched token the other day on Cardano, and the transactions took longer than I would have liked there as well.All these chains have a ton of progress to be made.While… pic.twitter.com/aSBSzfBqfe

— Dan Gambardello (@cryptorecruitr) April 4, 2024

In a post on social media platform X (formerly known as Twitter), Gambardello pointed out that around 75% of transactions on Solana are failing, adding that he is unable to understand the hype behind the cryptocurrency. 

Gambardello highlighted that he is a Cardano bull but noted that while trading a newly launched coin on the blockchain, transactions took longer than expected. He concluded that blockchains like Solana and Cardano need a lot of improvement. Gambardello said:

“Today I was sitting there using Raydium (Solana DEX) as my transaction just waits there in pending and I really can’t help but wonder what all the Solana hype is about. Essentially, Solana currently has 75% transaction failure while lacking security & decentralization.”

While comparing the situation with Cardano, Gambardello noted that the ADA blockchain is working on multiple scaling solutions and is approaching major milestones. Meanwhile, he doesn’t see similar activity in Solana. The crypto enthusiast called Cardano a “top blue chip” blockchain.

As much as I think that $SOL is the chain for retail this cycle…the experience is fucking brutal lately pic.twitter.com/7pbjddTC6v

— Altcoin Sherpa (@AltcoinSherpa) April 4, 2024

Another crypto community member pointed out on X that using the Solana blockchain has been a “brutal” experience in recent days, with multiple people agreeing in the comments.

dealing with congestion bugs sucks so much more than total liveness failure. the latter is one and done, bug is identified and patched and chain continues. the former has to go through the full release and test pipeline. shipping fast is impossible 😭😭😭

— toly 🇺🇸 (@aeyakovenko) April 5, 2024

A user accepted that using the SOL blockchain is currently not a good experience but added that the developers are working on fixes that will be released soon to make the experience more streamlined and hassle-free.

The post Users Prefer Using Cardano Over Solana Due to Transaction Delays appeared first on Coin Edition.

Shiba Inu emerged as the most traded cryptocurrency on WazirX for March 2024, surpassing Bitcoin and other altcoins.

SHIB’s market capitalization stands at $15.91 billion, placing it 12th among active cryptocurrencies listed on CoinMarketCap.

The current price of SHIB is $0.000027, with support at $0.00002573 and resistance at $0.00002729.

In March 2024, Shiba Inu (SHIB) became the highest-traded cryptocurrency on the Indian exchange WazirX. This attainment represents a significant transition in investor attention, making the memecoin more popular than Bitcoin and other altcoins on the platform.

WazirX’s report released on April 2 also showed that a sizable number of investors chose Shiba Inu, demonstrating its rising demand in the cryptocurrency market.

$SHIB was one of the hottest coins on @WazirXIndia in March! The Shib Army is growing strong in India 🇮🇳 Namaste! #ShibArmy #shib https://t.co/ukASslAssa

— Shib (@Shibtoken) April 2, 2024

SHIB, as a coin that started as a fun competitor to Dogecoin in August 2020, has been growing considerably. At present, Shiba Inu trades at a price of $0.000027 at a $15.91 billion market capitalization. This would make it sit 12th among the 9,406 active cryptocurrencies on CoinMarketCap.

In addition, SHIB has seen a support level of $0.00002573 and a resistance level of $0.00002729 in the past 24 hours. Its all-time high was reached on Oct 28, 2021, which leaves the present price at 69.62% down.

The success of Shiba Inu is not only about its trading volume. The coin ecosystem has grown to include the metaverse ecosystem and the Shibarium blockchain. SHIB domains are for community members. These developments enhance the overall adoption and usage of the memecoin in the digital asset arena.

The demand for cryptocurrency, particularly among Indian investors, is high. In December 2022, SHIB became the most dominant trading volume on WazirX’s platform, with 27% of the first-time crypto users.

Another fascinating item on WazirX’s list of the top-traded cryptocurrencies is Bitcoin, Pepe, FLOKI, and Dogecoin, which depicts the varied interests of crypto investors. Shiba Inu’s rise to the top illustrates its strong market presence and the growing involvement of investors with memecoins in the cryptocurrency industry.

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