Forget Shiba Inu: Electric Capital Says Polkadot Is Hot in 2024
Meme coins like Shiba Inu (SHIB), Bonk Inu (BONK), and Pepe Coin (PEPE) are there for investors when a 45% gain in Bitcoin price (annualized, that’s like earning 540% ROI for a month) just isn’t a big or fast enough profit.
These coins have posted some truly degenerate levels of profit from commensurate levels of risk. Furthermore, they have on-ramped young investors to Bitcoin, the stock market, and global finance.
SHIB Gained 26% in Feb (BTC Gained 45%)
Shiba Inu has made enormous strides to transform from an L2 meme coin to a full-fledged Web 3.0 ecosystem. The Shibarium provides SHIB holders a way to swap, yield, lend, borrow, govern, leverage, limit, and build with their dog-themed ERC20.
As a result of the developers’ and communities’ efforts, even though SHIB price under-performed BTC in February, daily active transactions are surging. Meanwhile, the network has “burned” 41% of the SHIB supply in under a year. Devs added the burn feature in Apr. 2023.
SHIB was quick to pick up in the past few days, though, soaring in value in line with the rest of the meme coin market and performing better than BTC in March (so far).
And yet, Electric Capital is touting Polkadot’s DOT as a crypto to watch in the coming cycle.
Growth in Developers
Electric Capital, a Palo Alto venture capital firm for early-stage cryptocurrency companies, ran across a large number of DOT projects in compiling the company’s latest blockchain developer report.
Shiba Inu has a developer team, but the amount of development is still so early that the DeFi meme coin did not appear in the report. Meanwhile, the number of full-time developers devoted to the DOT ecosystem more than tripled in three years. Now, it has the third-largest army of full-time devs after Ethereum and Bitcoin.
Growth in developer and app activity on this Layer-1 Web 3.0 platform may not be reflected in Polkadot price, with BTC and ETH stealing the spotlight so far in 2024.
Polkadot (DOT) tokens gained 25% in average crypto exchange prices in February and gained a total of 32% in the past month according to CoinGecko.
Analyst Says Dogecoin Will Do ‘Crazy Numbers’ This Cycle, Updates Outlook on Solana and One DOGE Rival
A closely followed trader in the crypto space says that Dogecoin (DOGE) is likely going to print sizeable gains once a proper bull market kicks off.
The pseudonymous trader known as Altcoin Sherpa tells his 209,000 followers on the social media platform X that while it may not be the most original investment thesis, DOGE is still a high-probability opportunity for getting several multiples on your capital.
“It’s not a very creative or fast trade but DOGE is eventually going to do crazy numbers this cycle. It won’t outperform other memes given its MC (market cap) but you probably make 4x your money if you buy and sell on the giga pump. Buy now and go into a coma and sell when this moons.”
Altcoin Sherpa’s chart suggests that Dogecoin faces a major breakout level past the $0.18 mark. At time of writing, DOGE is trading at $0.164, up over 24% in the last 24 hours.
Looking at Ethereum (ETH) rival Solana (SOL), the trader says that SOL’s recent price action is somewhat underwhelming in a shorter-term time frame, but he remains bullish from a longer-term perspective.
“SOL: to be honest, these aren’t the best candle closes + I want to see some strong follow-up in the next few days.
Failing to do so would probably mean another move back within that $100-120 trading range. Overall, not really sure where this one goes in the midterm but I’m still bullish high timeframe.”
At time of writing, SOL is trading at $129.
Meanwhile, the trader says Dogecoin rival Bonk (BONK) is presenting opportunities at the moment. Given that it’s lagging behind other memecoins like dogwifhat (WIF) and Pepe (PEPE), Altcoin Sherpa says BONK has a good chance of catching up soon.
“BONK: this is a good coin to buy right now. It’s still lagging WIF and PEPE.
When coins consolidate like this and the leaders are still going, you can easily buy this right now…”
At time of writing, BONK is worth $0.000034, up nearly 50% in the past day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Bitcoin Price Breaks Above $65,000, Here Are The Factors Behind It
Bitcoin has just broken above the $65,000 level. Here’s a possible reason that may be contributing to this fresh bullish momentum in the asset.
Bitcoin Has Edged Further Closer To A New High With Its Latest Break
After consolidating near the $62,000 mark for a few days, Bitcoin has finally witnessed some uptrend in the past day, as it has not only returned back to the earlier high of $64,000, but also smashed past it to claim the $65,000 level.
The chart below reveals how cryptocurrency has performed in the last few days:
With its returns of more than 5% inside the 24 hours, Bitcoin is among the best performers in the market, with only Cardano (ADA) and Dogecoin (DOGE) outperforming it inside the top 10 coins by market cap list.
Following this rally, BTC has now arrived back at the top observed in April 2021 and is now only a 6% rise away from hitting the $69,000 all-time high set in November 2021.
Now, one question that’s bound to be on the minds of investors would be: what’s driving this latest surge in the asset? Naturally, there are always several reasons factoring into a rally like this, but a major one would be institutional buying pressure.
BTC Coinbase Premium Gap Has Been Positive Recently
As explained by CryptoQuant Netherlands community manager Maartunn in a post on X, the BTC Coinbase Premium Gap remained positive through the weekend.
The “Coinbase Premium Gap” is an indicator that keeps track of the difference between the Bitcoin prices listed on Coinbase (USD pair) and Binance (USDT pair). This metric’s value can tell us about the difference between the buying (or selling) behaviors on the two platforms.
The below chart shows what the indicator looked like over the weekend:
From the graph, it’s apparent that the Bitcoin Coinbase Premium Gap had turned positive in the last few days of February and remained so in the starting days of this month. Positive values suggest that the BTC price listed on Coinbase has been higher than that on Binance.
The former exchange is known to be the preferred platform of the US-based institutional entities, while the latter hosts global traffic. This would mean that a positive premium can suggest a stronger buying pressure from the American whales.
It’s visible in the chart that the high Coinbase Premium coincided with BTC’s initial surge above $60,000 at the end of last month, implying that these institutional investors played a role.
This weekend also saw high values of the indicator, which may be the reason why Bitcoin has seen its latest rally. Given the pattern, the Coinbase Premium Gap could be to keep an eye on in the coming days, as the large American traders continuing to buy could be a sign that BTC is ready to go higher.
FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL – Details
Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin’s value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%.
FLOKI Tallies An Impressive 336% Weekly Gain
However, it is the weekly timeframe that has truly astounded market observers, as FLOKI recorded an impressive rally of 336%. This surge in price comes on the heels of a community-backed proposal to burn 2% of the token’s supply.
The proposal to burn tokens was met with overwhelming support from the community, with nearly 90% of votes favoring the initiative. The top voter staked a staggering 117 billion tokens, demonstrating the belief in the long-term security and stability of the Floki project.
IT’S OFFICIAL: FLOKI DAO PASSES VOTE TO BURN 190,918,585,431.84 FLOKI TOKENS
The #Floki DAO has voted in favor of burning 190,918,585,431.84 $FLOKI tokens. At the current market value, this is worth over $24 MILLION.
The burn event is scheduled to take place after a seven-day period, and its purpose is to minimize the risks associated with token exploitation and dumping, thereby ensuring the project’s sustainability.
Social Media Buzz And Positive Sentiment
An investigation by NewsBTC has revealed a surge in social media mentions for Floki Inu in recent days, indicating the continued popularity of the meme coin within the cryptocurrency community.
Moreover, a rise in weighted sentiment suggests that positive views towards the token prevail at the time of writing. This growing social media buzz and optimistic sentiment have played a role in attracting attention to Floki Inu and contributing to its meteoric rise in value.
FLOKI Total Value Locked Soars
Meanwhile, Floki has reached a noteworthy accomplishment. Total Value Locked (TVL) across its ecosystem goods has exceeded $400 million. This accomplishment follows the cryptocurrency’s all-time high of $366 million, which showed its quick rise and investor appeal.
FLOKI CROSSES RECORD $400M IN TVL#Floki has just crossed $400M in TVL across two of its key ecosystem products, hours after it hit an ATH of $366 million:
As the crypto market continues to evolve, all eyes remain on Floki Inu and its future trajectory. Market participants eagerly await the outcome of the token burn event and closely monitor the impact of social media trends and cautionary indicators on the coin’s price.
The coming days will shed more light on whether Floki Inu can sustain its current momentum or if a correction is on the horizon.
Floki Inu’s recent surge in price, driven by overwhelming community support for a token burn proposal, has captured widespread attention. The coin’s popularity on social media and positive sentiment within the cryptocurrency community further contribute to its rise.
Featured image from Pexels, chart from TradingView
Energy Trading Platform SunContract Introduces First NFT-Powered Solar Panels Marketplace
The Slovenian energy trading platform – SunContract – launched the first NFT marketplace for solar panels, enabling direct earnings or energy consumption from tokenized solar farms.
The project leverages blockchain to democratize renewable energy access, allowing holders to manage their energy assets easily.
According to a press release shared with CryptoPotato, the entity has introduced the world’s first non-fungible token marketplace for real-world solar panels. Users will be able to directly benefit from those panels by earning from them or for personal consumption at home or in their businesses.
SunContract made the announcement during the Crypto Expo Europe conference held in Bucharest, Romania, showing how blockchain technology can be employed to empower the clean energy sector. SunContract’s inaugural tokenized solar farm is located in the Slovenian village of Višnje at a facility with a peak power of 517 kW.
The NFTs represent a distinguished panel at the farm. The initiative is backed by people who are committed to the green future of the planet and are eager to support the development of the renewable energy niche.
The entity explained that the first step of the initiative includes generating energy from the underlying solar panel, which will later be sold on users’ behalf in return for SNC tokens. Those assets will be automatically credited to their wallets once operational and maintenance fees are deducted.
NFT holders will be allowed to use the energy in countries where SunContract owns permits or licenses, such as Slovenia, Estonia, Croatia, and more to come. The step aims to democratize renewable energy and make it accessible to everyone.
NFTs of that type can be purchased and sold at any time in the aforementioned marketplace. In addition, holders can manage the generated energy by their “Personal Power Plant” from a smartphone.
Speaking on the matter was SunContract’s co-founder and CIO, Gregor Novak, who said:
“The addition of an NFT marketplace is set to further this reach, making our services globally accessible. The blockchain’s role in our platform is not just a technological foundation; it’s a gateway to expanding our community and enhancing the user experience on a global scale,” he added.
Meme Coin Madness: These Popular Meme Coins Explode to New All-Time Highs
PEPE and BONK achieve unprecedented highs amid a broader meme coin market boom.
Dogwifhat (WIF) sees extraordinary growth, gaining significant support from major exchanges and industry leaders.
BONK and PEPE Reach New Peaks
The frenzy surrounding the meme coin sector seems nowhere near its end, with the niche’s market capitalization surging above the $50 billion mark (per CoinGecko’s data). Leading assets of that type, including Dogecoin (DOGE) and Shiba Inu (SHIB), have charted impressive gains in the past few days, but others have exploded to new all-time high prices.
Such is the case with the frog-themed Pepe Coin (PEPE) and the Solana-based Bonk Inu (BONK). The former is currently the third largest meme coin with a market cap of over $2.7 billion. Its price sits at an ATH after a whopping 370% rally on a weekly scale and 600% in a month.
BONK is the fourth biggest meme coin with a market capitalization of more than $2 billion. Its valuation has exploded by nearly 60% in the past 24 hours, tapping an unprecedented peak of approximately $0.00003435.
What About WIF?
Another popular meme coin that has recently made waves is dogwifhat (WIF). The token was trading at under $0.01 in mid-December (by the time of its launch), which represents an astonishing 17,000% increase compared to the $1.73 witnessed today (March 4). WIF’s price was even higher yesterday, tapping an ATH of around $1.77.
The coin’s value has been positively impacted by leading cryptocurrency exchanges that have decided to introduce trading services with it lately. Such examples are Binance, Coinbase, Bybit, Kucoin, and more. As CryptoPotato recently reported, the investment platform Robinhood also embraced WIF.
In addition, the Solana-based meme coin received support from prominent names in the sector. BitMEX’s co-founder Arthur Hayes recently posted a chart of the asset’s massive price rally on X, whereas the crypto trader Bluntz thinks WIF might flip PEPE or BONK in the near future.
As of the moment, dealing with some of the trending meme coins might appear as a gold mine for investors. Nonetheless, they should keep in mind that the asset class could be quite dangerous due to its infamous volatility. Those willing to dive deeper and find out the most significant risks, please check our video below:
Bitgert Coin Soars by 50% in Just One Week: Is a Major Bull Run on the Horizon?
The recent increase in cryptocurrency prices saw major currencies like Bitcoin rise up to 20%, another increase was seen in the hidden gem cryptocurrency Bitgert which increased by 50% at the same time this huge increase has made everyone wonder if another great bull run is on it or a beautiful horizon.
Price of various coins this week
Bitcoin rose 20% last week opening at $51,470 on February 25, 2024 and closing at $62,321 on March 3, 2024. This increase was primarily due to recording a rise of $612 million by the Bitcoin ETF of Ethereum opened at $3,108 and closed at $3,446. One of the pumps among many other major cryptocurrencies was Solana which gained 25%.
What happened to Bitgert?
Bitgert shot up by an astounding 50%, in the same time frame shaking up the crypto market and making everyone know what is so special about this new kid on the block.
The answer is simply the pace of development. Bigert has been dubbed the “Solana Killer” because of its ability to launch new tools quickly and offer a high transaction speed along with near-zero gas fee transactions.
The Bitgert’s BRISE coin surged from $0.0000001421 to $0.0000002008 in 7 days giving investors a return of about 50% in the time frame. This surge has investors being bullish on the coin and speculating a larger surge in the coming weeks.
What’s next for Bitgert?
Coinmarketcap, a foremost crypto analysis authority, has given an aggressive forecast for Bitgert’s price in the future. These estimates indicate that there could be at least a 167% and as much as 169% increase from the current price which suggests massive gains for future investors. Furthermore, the Bitgert team launched various other products like BRISE Wallet, Bitgert Audits, Bitgert Swap, and BRISE Staking that could be good indicators of how fast the team is growing.
The recent surge in cryptocurrency prices has seen some coins blow up to their all-time high and give its investors returns of 20% in just a week. Bitgert on the other hand has been able to pump up to 50% of its value in the same time frame. The coin dubbed the “Solana Killer” offers near-zero gas fees with rapid development that make investors wonder if a major bull run is on the horizon.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Bitcoin Jumps Past $65K, Shiba Inu and Dogecoin Soar by 25% Daily (Market Watch)
Bitcoin had a quiet weekend in which its price stood primarily around the $62,000 level, but the bulls went on the offensive once again as Monday came and pushed the asset to a new multi-year peak of over $65,000.
Dogecoin and Shiba Inu have soared as well, but their meme coin rival Pepe has outperformed the rest of the larger-cap alts with a massive daily surge.
BTC Soars to $65K
Last Monday began on a similar note as this one when Bitcoin skyrocketed from around $51,000 to $55,000 and even further during the late US trading hours. Tuesday saw even more gains, as did Wednesday. BTC’s rally culminated in a price surge to $64,000, which became its highest price tag since late 2021.
Despite a brief retracement during the week, Bitcoin still closed February with the biggest monthly gain in its history. The next few days, though, including the weekend, were a lot less volatile, and BTC remained stuck at around $62,000.
However, the bulls went back at it again once Monday arrived. In a matter of hours earlier today, they pushed the cryptocurrency to a new multi-year high of over $65,000. Thus, BTC came just $4,000 away from its 2021 ATH of $69,000.
As of now, the asset stands inches above that line again, with its market cap nearing $1.3 trillion. Its dominance over the alts has increased by 0.5% in a day and is now above 50% on CoinGecko.
SHIB, DOGE, PEPE on the Rise Again
The past several days have been dominated by meme coins, and this continues to be the case now as well. Pepe has stolen the show once more, with another 65% surge. In fact, the meme coin has entered the top 50 largest cryptocurrencies and tapped a new all-time high earlier today.
BONK follows suit with a 50% increase that has pushed its price to $0.000035. The two largest reps of this cohort of digital assets – Dogecoin and Shiba Inu – have gained 25% and 30%, respectively. As a result, SHIB has come closer to possibly overcoming DOGE as the largest meme coin.
Cardano and Polkadot have also charted impressive gains of around 8-10% overnight. The rest of the larger-cap alts are also in the green but in a more modest fashion.
The total crypto market cap has added over $100 billion overnight to $2.550 trillion on CMC.
Bitcoin (BTC) Bull Run, Shiba Inu (SHIB) Price Explosion, and More: Bits Recap March 4
Bitcoin (BTC) nears $65,000, potentially starting a massive bull run influenced by the upcoming halving event that reduces mining rewards.
Shiba Inu (SHIB) quickly recovered with spectacular gains, becoming one of the top performers with a 180% weekly increase.
Ripple (XRP) is lagging with an 18% weekly increase, but analysts predict a significant surge, expecting it to catch up with bullish market trends.
BTC’s Impressive Performance
The last several days have been highly successful for Bitcoin (BTC), with its price nearing the $65,000 mark for the first time since November 2021. To put things into perspective, the rally in February represented the longest monthly green candle in the asset’s history, whereas the valuation is quite close to the all-time high registered at the end of 2021.
Despite the rapid increase, some experts and important technical indicators suggest this might be just the beginning of a massive bull run that could last in the following months.
One upcoming element worth noting is the Bitcoin halving. The event, scheduled for April next month, will reduce the rate at which new BTC are mined. Currently, miners receive 6.25 BTC for successfully validating a new block on the blockchain, while the reward will be trimmed to 3.125 BTC.
Historically, the halving has been followed by an overall market boom. Those willing to learn more about the event, please check our dedicated video below:
Investors’ shift from exchanges to self-custody methods could also play a role. According to CryptoQuant, BTC exchange netflow has been predominantly negative in the last few weeks, with a huge red candle charted at the beginning of March.
Holding assets in self-custody wallets reduces the immediate selling pressure.
SHIB Takes Center Stage
The popular meme coin – Shiba Inu – was lagging at the end of February when the crypto market, particularly Bitcoin, started booming. Nonetheless, it quickly caught up with the trend, recording spectacular gains in the past few days.
SHIB is currently among the best performers in the meme coin realm and the entire digital asset sector, with its value skyrocketing by 35% on a 24-hour scale and 180% weekly.
Those curious to find out some of the possible reasons behind Shiba Inu’s exponential rise and check the estimation of ChatGPT’s rival Perplexity about a further rally could read our article here.
One cryptocurrency that appears to be lagging behind the biggest gainers is Ripple’s XRP. Its price is up “just” 18% on a weekly scale, currently trading at around $0.64 (per CoinGecko’s data).
However, multiple analysts remain optimistic that the asset will catch up with the bullish trends, expecting substantial increases.
The crypto enthusiast with thousands of followers – Dark Defender – maintained that XRP closed February above a critical resistance level, which signals a possible “monthly breakout.” The analyst predicted a price surge to almost $2 by July this year.
EGRAG CRYPTO agreed with the forecast, advising investors to “stay steady” since XRP seems poised for a “more aggressive and strong upward move” in the following months.
Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee
Top executives from Binance have been summoned to appear before the Nigerian House of Representatives Financial Crimes Committee no later than March 4. Ginger Onwusibe, the committee’s chairperson, has warned of possible repercussions should Binance executives fail to comply with the request. Latest Escalation in the Standoff Between Binance and Nigerian Authorities The Nigerian House […]
Original Post: Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee
Does Vitalik Buterin find memecoins ‘over-invested’ or ‘under-loved’?
Meme coin mania: PEPE tops gainers list with 70% spike
The meme coin market has retained its uptrend, with Pepe (PEPE) leading the latest charge, having registered a massive 70% spike over the past 24 hours to become the biggest gainer among the top 100 crypto assets. Meme coins recorded…
Original Post: Meme coin mania: PEPE tops gainers list with 70% spike
Bitcoin traders raise leverage 300%: Will BTC price finally reach $70k this week?
Revolutionizing Cloud Solutions: Introducing Cloud Binary Server
[PRESS RELEASE – Orleans, France, March 4th, 2024]
Cloud Binary Server unveiled its innovative cloud infrastructure services, designed to provide a cost-efficient and dedicated server solution for both businesses and individuals. Leveraging a Telegram bot, the platform simplifies the purchase of cloud infrastructure, bypassing complex setups and the need for in-depth technical understanding, thus widening its accessibility.
Cloud Binary Server is set to transform the tech landscape with a steadfast commitment to privacy, security, and anonymity. It offers anonymous hosting solutions tailored for decentralized and AI machine learning applications, alongside the CBY token to foster user empowerment and participatory governance.
The company strikes a crucial balance between technological progress and user privacy, delivering a suite of services including web, email hosting, and file storage, all while maintaining stringent privacy and security standards.
A standout feature is the platform’s support for anonymous cryptocurrency transactions, complemented by end-to-end encryption, positioning it as a prime choice for users prioritizing anonymity in cloud services.
Cloud Binary Server enhances user experience with complimentary, round-the-clock technical support, covering installation, configuration, customization, and troubleshooting, to facilitate a smooth user journey.
Cloud Binary (CBY) Token
The CBY token, Cloud Binary’s governance token, enables holders to actively engage with the ecosystem, vote on proposals, access exclusive features, and integrate into the Cloud Binary community.
Benefits for CBY token holders include:
Full access to Cloud Binary’s suite of products.
Discounts on services like web and email hosting, and file storage.
Opportunities to generate passive income through various reward programs.
Advantages from partnerships, including airdrops and staking in liquidity pools for additional rewards.
Cloud Binary Telegram Bot Service
The Cloud Binary Telegram bot presents a valuable solution for purchasing and configuring cloud servers while simultaneously providing management capabilities. Users can initiate a conversation with the bot to procure and customize the appropriate cloud server for their needs. In addition, the bot facilitates the storage, receipt, and transfer of $ETH, $USDT, and $CBY. Its multifaceted capabilities empower users to streamline their cloud server operations with ease and efficiency.
About Cloud Binary Server
Launched in 2024, Cloud Binary Server positions itself as a leading provider of secure, anonymous, and versatile cloud services catering to the hosting and computing needs of both individuals and businesses. Its commitment to affordability, easy access, and exceptional customer service makes it an attractive option for those in search of a user-friendly cloud infrastructure solution.
Revolutionizing Cloud Solutions: Introducing Cloud Binary Server
PRESS RELEASE. Orleans, France, March 1st, 2024, Chainwire. Cloud Binary Server unveiled its innovative cloud infrastructure services, designed to provide a cost-efficient and dedicated server solution for both businesses and individuals. Leveraging a Telegram bot, the platform simplifies the purchase of cloud infrastructure, bypassing complex setups and the need for in-depth technical understanding, thus widening […]
Original Post: Revolutionizing Cloud Solutions: Introducing Cloud Binary Server