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Solana Explodes by 30 in a Week Factors Behind The Move Suggest SOL Could Go Crazy In March

Solana Explodes by 30% in a Week — Factors Behind The Move Suggest SOL Could Go Crazy In March

By Georgi Farfarov – March 3, 2024

The crypto market has been on its toes as Solana has seen an explosive surge of over 30% in just one week, reaching its 23-month high. The impressive rally has sparked confidence and curiosity within the crypto community, prompting a closer examination of the factors driving Solana’s recent ascent.

Today, we delve into the factors behind Solana’s remarkable surge and explore the crucial question: Can Solana sustain this momentum?

As of March 3, SOL is trading at $130.69, marking an impressive 34.2% gain over the past seven days. Despite being the fifth-largest cryptocurrency, Solana has moved closer to its competitor, BNB. The surge raises questions about the sustainability of this momentum and whether Solana can continue outperforming its competitors.

Factors Fueling Solana’s Rally

Multiple factors contribute to Solana’s recent surge. Price momentum, market conditions, recent news, supply and demand, and others all come into play.

The performance of Solana meme coins, including BONK and WIF, adds an intriguing layer to the narrative. BONK has surged by 115%, while WIF has rallied an impressive 268% in the past week.

Solana’s Total Value Locked (TVL) and NFT Dominance

We turn to Solana’s Total Value Locked (TVL) in smart contracts to see if SOL’s surge is sustainable. With SOL playing a crucial role in decentralized applications (DApps), a higher TVL signifies increased user engagement and demand for Solana-based DApps. Data from Solana shows that its TVL is at the highest level since November 2022.

Solana’s strong presence in the NFT marketplace further distinguishes it from competitors. With a weekly volume of $7.9 billion, Solana’s dominance in the NFT space is clear. And it contributes to its overall utility, potentially attracting a broader user base.

Can Solana Sustain the Momentum?

While Solana’s recent surge is undoubtedly impressive, the crypto market remains dynamic and subject to various influences. Market conditions, sentiment shifts, and fundamental indicators signal Solana could very likely sustain its outperformance against competitors in March.

As we analyze the factors behind this impressive move, the crucial question lingers: Can Solana maintain its momentum in the ever-changing crypto landscape? The coming days will likely determine whether Solana’s surge is a short-term phenomenon or the beginning of a sustained upward trajectory.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Georgi Farfarov and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Solana On A Roll: Crypto Analyst Predicts Push To 600

Solana On A Roll: Crypto Analyst Predicts Push To $600

February 29, 2024 – 16:00 EST

Like almost every other crypto token in the market, Solana (SOL) is enjoying a rally of its own, rising to nearly $125 in the last 24 hours. Interestingly, this looks like only the beginning of good things to come for the crypto token, as crypto analyst Hansolar predicts that it could run massively in this bull cycle.

SOL To Rise To $600

Hansolar mentioned in an X (formerly Twitter) post that SOL will rise to $600. This “fun” target was laid on the premise that SOL could be the new ETH this cycle. Assuming this is the case, the analyst expects SOL to take off later than BTC and ETH. This is because ETH took off when BTC broke into all-time highs (ATHs) during the last bull run.

Therefore, SOL, following a similar trajectory to ETH in the last cycle, might not take off until BTC and ETH break into ATHs. Hansolar suggested that SOL’s takeoff will be sparked by retail, stating that there will be a time when these investors buy into the crypto token “as the high beta catch-up play.”

Hansolar also offered more evidence to suggest that SOL is likely to replicate ETH’s run in the last bull cycle. He stated that the crypto token was currently at around 50% from its ATH, similar to how ETH was around the 50% mark as BTC was nearing its ATH in the last cycle. Meanwhile, Hansolar offered “fun” targets for Bitcoin and Ethereum, stating they will hit $150,000 and $10,000 in this bull cycle.

Interestingly, Hansolar’s $600 price prediction for Solana looks very conservative compared to Crypto YouTuber Jake Gagain’s prediction that SOL will hit $750. The analyst stated that the crypto token will hit this price level by next year.

Between Solana And Ethereum

Crypto analyst Santiago Santos once echoed similar sentiments to Hansolar when he drew a comparison between Solana and Ethereum, noting that the former is going through what the latter did during the ICO boom. He, however, suggested that Solana would perform way better than Ethereum, as it is seeing “meaningful usage and growth,” unlike Ethereum then.

Santos further asserted that Solana would “converge on Ethereum faster than most believe.” Solana, commonly referred to as the “Ethereum Killer,” has indeed been on the heels of Ethereum as of late. Solana even once surpassed Ethereum in 7-day DEX (decentralized exchange) volume.

The tremendous rise in Solana’s network activity is believed to be one of the factors driving SOL’s price and what could push it to hit the $600 mark and possibly $750, like Gagain predicted.

At the time of writing, SOL is trading at around $124, up over 13% in the last 24 hours, according to data from CoinMarketCap.

The original article was posted on Tradingview.com/News.

Article reposted on Markethive by Jeffrey Sloe

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Tim Moseley

Fidelity Exec Details How Bitcoin Will Capture a Quarter of Gold’s Monetary Marke

Fidelity Exec Details How Bitcoin Will Capture a Quarter of Gold's Monetary Market

By Olivia Brooke – March 1, 2024

According to Jurrien Timmer, the Director of Global Macro at Fidelity, a leading digital asset investment firm, Bitcoin can tap into the monetary market of gold. In a series of posts shared to X, formerly Twitter, the Fidelity's executive detailed his thoughts on Bitcoin's potential market share vs gold.

Sharing a recent chart depicting the value of monetary gold, share of gold held by central banks and private investors as a monetary asset (as opposed to jewellery or industrial uses).

Estimating that the share of monetary gold is around 40% of total above-ground gold, the Fidelity executive is convinced that Bitcoin will “eventually capture around a quarter of the monetary gold market.” He added, “At 40%, monetary gold is currently worth around $6 trillion, while Bitcoin is worth $1 trillion.”

Historically, Bitcoin's market position has been consistently compared to that of gold. Institutional players have previously branded Bitcoin as digital gold.

Interestingly, Bitcoin has outperformed gold on previous occasions. Last year, Bitcoin recorded a 50% spike in value, beating the broader stock market, including gold trading 47% below Bitcoin's value.

In 2023, Bitcoin outperformed Gold by 10x, and this bullish performance is setting the tone for 2024, with market experts being largely positive.

Jurrien Timmer: Future Bitcoin halving will not have a strong impact on the asset's price

Regarding the next Bitcoin halving, Timmer shared another chart that illustrates what he expects to be diminishing returns from future halving.

While the Bitcoin halving in 2012 resulted in a decrease in supply from 2.7 million to 1.3 million, and the Bitcoin halving in 2016 took supply from 1.3 million to 656 thousand, Timmer is certain that the upcoming halving will not have as much impact on price as previous halvings did, particularly when incremental supply goes from 160 coins to 80 to 40.

As he further explained;

“In 2012 Bitcoin's outstanding supply was 50% of its eventual supply, in 2016 it was 75%, and in 2070 it will be 99.9977%. It's easy to imagine the power of a halving in 2016. It seems unlikely to me that future halvings will be as impactful when there are fewer coins to mine.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Bitcoin Pops Above 62000 For First Time Since November 2021 As Market Enters Extreme Greed Territory

Bitcoin Pops Above $62,000 For First Time Since November 2021 As Market Enters Extreme Greed Territory

By Brenda Ngari – February 28, 2024

Bitcoin broke past the mythical bar of $62,000 on Wednesday for the first time in more than two years after rising by 9.9% over the past 24 hours.

At press time, BTC was trading for $62,308, and the Crypto Fear and Greed index shows the crypto market has delved into the extreme greed phase. The alpha cryptocurrency is up over 20.2% on the weekly chart, 45.7% during the past 30 days, and an eye-popping 155% growth over the last 12 months, according to CoinGecko data.

The last time Bitcoin traded above $62,000 was on Nov. 12, 2021, before BTC plunged into correction mode, erasing 66% of its value to change hands at $19,300 at the start of April 2022.

Bitcoin’s ongoing rally appears to have been driven by a notable increase in institutional interest following the historic launch of U.S.-based spot BTC exchange-traded funds in mid-January. The new nine spot market Bitcoin ETFs registered combined trading volumes of over $2 billion for the second consecutive day on Wednesday. These funds have been a roaring success as investors previously unable to get exposure to Bitcoin in an easy and regulated manner flock to the sector. Collectively, the nine ETFs currently hold over $44 billion in assets.

$100K Possible By Halving?

The Crypto Fear and Greed index, an indicator that measures the overall crypto market investor sentiment on a scale of 1 to 100, recently rose to 82 as Bitcoin rallied. The market is in a state of “extreme greed” for the first time since 2021, highlighting an extremely bullish sentiment among investors as many expect BTC to cross its previous all-time high of $69,000 in the coming days.

Adding fuel to the fire is the much-awaited Bitcoin halving event, which is just 50 days away. Past halvings have led to significant price increases, as the mining rewards are slashed by half, effectively lowering the inflation rate of new Bitcoins entering the market by 50%.

Interestingly, Blockstream CEO Adam Back is confident that the Bitcoin price will hit the $100,000 mark before the pivotal halving event. He cited catalysts such as the liquidation of leveraged shorts, the shift in investor sentiment, and the rocketing buying pressure from ETFs triggering an explosive bull run for Bitcoin.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Veteran Trader Raises Bitcoin Price Forecast To 200000 As BTC Surges Past 56000

Veteran Trader Raises Bitcoin Price Forecast To $200,000 As BTC Surges Past $56,000

By Newton Gitonga – February 27, 2024

Bitcoin, the world’s largest cryptocurrency by market capitalization, has been on a tear this week, surpassing $56,000 for the first time since December 2021. The digital asset started the week on a high note, with its significant uptick on Monday continuing into Tuesday. This rise came despite a decline in the S&P 500, indicating that Bitcoin may be shedding its reliance on traditional equities markets.

The rise in Bitcoin’s price resulted in multiple short liquidations, with data from Coinglass showing that in the past 24 hours, 81,388 traders were liquidated, resulting in a total of $363 million. Notably, $280 million of these liquidations were for short orders.

Meanwhile, despite some indications that the price may be overstretched, particularly on the RSI indicator, the latest pump has ignited a wave of optimism among experts that Bitcoin could continue to rise.

On Tuesday, veteran trader Peter Brandt wrote on X that the thrust above the upper boundary of the 15-month channel has led him to raise his price forecast for the current bull market cycle, which is scheduled to end in August or September 2025, from $120,000 to $200,000.

However, Brandt also noted that he would use laser eyes on social media as a contrary indicator, stating that “Too many laser eyes will be the KOD” (kill on delivery).

The phrase “laser eyes” refers to the trend of crypto enthusiasts, particularly on Twitter, changing their profile pictures to include laser eyes as a way of expressing their bullish outlook on Bitcoin. Brandt’s statement that he will use this trend as a contrary indicator suggests that an increase in the number of people adopting laser eyes on their social media pictures could be a bearish signal.

Other analysts are also optimistic about Bitcoin’s price rising. Seasoned analyst Gert van Lagen wrote that the current parabolic trajectory of Bitcoin since November 2021 indicates that it is on track to hit $200,000 “soon”, suggesting it may reach those levels even before the April halving.

He also noted that the correlation between Bitcoin and the S&P 500 has been strong since the end of 2021. Bitcoin’s price has surged significantly beyond the previous bear market’s 78.6% Fibonacci retracement level.

Meanwhile, on-chain data suggests that whales have been accumulating Bitcoin. According to data from Cryptoquant, new whales are accumulating Bitcoin and are now sitting on a 38% unrealized profit. The realized price for a 30-day active whale cohort is $40,500, indicating that these whales are holding onto their Bitcoin for the long term.

At press time, BTC was trading at $56,511, reflecting a 10.90% surge in the past 24 hours, according to CoinMarketCap.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Bitcoin Leaps Past 54000 Barrier For First Time Since 2021: Will It Crack 60000 This Week

Bitcoin Leaps Past $54,000 Barrier For First Time Since 2021: Will It Crack $60,000 This Week?

By Brenda Ngari – February 26, 2024

Bitcoin jumped above $54,000 on Monday, reaching its highest level in over two years — sparking speculations about a potential return to its lifetime high prices.

Ether (ETH), the market’s second-largest digital coin, also surged by around 3.2%, hitting $3,177 amid a crypto-wide market recovery.

Bitcoin’s Bullish Run

Back in 2021, the world’s largest cryptocurrency, Bitcoin (BTC), flew past $53,000 per coin for the first time in history. After dropping by around 74% from its all-time high in the Terra-powered crisis of 2022, the crypto had a lot of ground to make up. But today, BTC finally roared past the $53,000 level once again.

The price of the flagship cryptocurrency was hovering at $54,452 at press time, according to data from CoinGecko. That’s a 5.0% gain from yesterday and a 2.8% increase from last week.

Bitcoin began the month sitting at just above $42,000 and steadily posted gains until it topped $50K on Feb. 12. This was the first time that BTC had surged above $50,000 since December 2021.

Since then, however, the premier crypto hasn’t made any notable price moves. It had been holding steady above the $50K zone for roughly 14 days now but has mostly been trading between the $51,000 and $52,000 range lately before the rally on Monday.

This jump is mainly attributed to rising investor interest, specifically via spot exchange-traded funds (ETFs), which have seen substantial inflows. The spot BTC investment vehicles saw nearly $5 billion in net inflow since their debut on Jan. 11, spotlighting the shifting investor preference towards regulated and easily accessible products for crypto exposure.

Can Bitcoin Touch $100,000 This Year?

Despite the ongoing pump, the price of Bitcoin is still 22.7% below the $69,044 all-time high registered in Nov. 2021. However, the longer the ETF inflow persists, the higher the chance of a supply shock propelling Bitcoin above $60,000 in the near term.

Moreover, Bitcoin is expected to undergo the halving event around April 20. The halving programmatically happens every four years and slashes the BTC rewards given to miners for securing the network by 50% to ward off inflation. This means fewer new BTC will be minted after the halving, subsequently slowing the supply expansion. Market pundits predict that the skyrocketing demand for BTC following the Bitcoin ETF launch coupled with the upcoming supply crunch resulting from the halving could send BTC to six digits in no time.

Standard Chartered Bank analysts think BTC is set to reach $100,000 before the end of 2024. Bitcoin’s upcoming halving will be one of the catalysts for the price upside.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Trump Softens His Stance On Bitcoin: I Can Live With It One Way Or The Other’

Trump Softens His Stance On Bitcoin: ‘I Can Live With It One Way Or The Other’

By Brenda Ngari – February 23, 2024

Former United States President Donald Trump seems to have softened his view on Bitcoin, marking a notable deviation from his previous hardline stance. Despite maintaining his preference for the US dollar in a Wednesday interview, the Republican front-runner acknowledged the dominant cryptocurrency’s growing popularity and demand.

Bitcoin Has “Taken On A Life Of Its Own”

Back in 2019, while still in office, Donald Trump publicly asserted he was “not a fan of Bitcoin and other cryptocurrencies”, arguing that they are “not money” and their value is based on “thin air.” He also reportedly ordered the treasury secretary to “go after Bitcoin” and also called the top crypto a scam in another Fox interview. Let’s also not forget that Trump’s administration was known for its efforts to stonewall spot Bitcoin ETFs and attempted to ban self-hosted wallets.

Since then, he seems to have eased his stance. Speaking to Fox News during a town hall event in South Carolina on Wednesday alongside South Carolina Senator Tim Scott, Trump observed that “many people are embracing” Bitcoin and that as more people want to pay with BTC, he can “live with it one way or the other.”

He followed his comments by talking about plans to regulate the crypto sector. “It’s taken [on] a life of its own,” the former president stated. “You probably have to do some regulation.

Some crypto observers attributed the change in tune to pro-Bitcoin Vivek Ramaswamy, a former Republican candidate who supported Trump after dropping out of the White House race earlier this year. Ramaswamy has been both a champion of the cryptocurrency industry and against the launch of central bank digital currencies (CBDCs). In other words, Trump’s U-turn is likely politically motivated to garner more votes from the growing cryptosphere ahead of the 2024 presidential election.

Trump’s softer stance on Bitcoin doesn’t necessarily mean that he is now anti-dollar, however. “I’ve always liked one currency. I call it a currency. I like the dollar,” he explained.

Trump believes CBDCs are dangerous and promised to “never allow” the Federal Reserve to create a digital dollar if reelected.

Meanwhile, his biggest competitor, Joe Biden, is skeptical of Bitcoin and cryptocurrencies in general. Biden previously proposed several measures to rein in crypto, including a 30% tax on crypto mining operations and releasing a scathing report bashing crypto for “ignorance of basic economic principles.”

With that being said, the Securities and Exchange Commission (SEC) gave the regulatory nod in January to the first spot BTC ETFs in the U.S.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Reddit Joins Crypto Club New IPO Filing Reveals Treasury Exposure To Bitcoin Ether and MATIC

Reddit Joins Crypto Club, New IPO Filing Reveals Treasury Exposure To Bitcoin, Ether, and MATIC

By Brenda Ngari – February 23, 2024

Social media platform Reddit has made headlines with its decision to invest part of its excess cash in Bitcoin (BTC) and Ethereum (ETH), as revealed in a Feb. 22 S-1 filing with the Securities and Exchange Commission (SEC). The crypto investments make Reddit one of the few companies that hold crypto assets in their balance sheets alongside the likes of Elon Musk’s EV maker, Tesla, and Michael Saylor’s MicroStrategy.

Crypto Exposure

Reddit has officially filed to go public on the New York Stock Exchange under the ticker RDDT.

In a filing for an initial public offering (IPO), the firm disclosed that it has invested its excess cash reserves in crypto assets, including Bitcoin (BTC) and Ether (ETH), and has also acquired Polygon’s MATIC to pay for virtual goods. The social media giant said it may continue this strategy in the future.

Reddit indicated that BTC and ETH were the only cryptocurrencies held in the company’s treasury as of Dec. 31, 2023. It did not reveal how many tokens it holds but said the amounts are “immaterial.”

“The net carrying value of our cryptocurrencies, which consisted primarily of Bitcoin and Ether, as well as all related cryptocurrency activity, was immaterial for the periods presented,” Reddit wrote.

Moreover, the firm said it holds these cryptocurrencies so that its engineering and product teams can use them for specific applications.

Reddit’s Blockchain Experimentation

In the S-1 filing, Reddit said it has been “experiment[ing] with blockchain technology”.

The firm also said it sees some huge potential in cryptocurrencies and blockchain-based technologies but isn’t sure whether adoption by businesses and users will continue:

“While we believe cryptocurrencies and blockchain technology have significant potential, the popularity and prevalence of cryptocurrencies is a relatively recent trend, and whether cryptocurrencies and blockchain technology will continue to be adopted by consumers and businesses in the long term is uncertain.”

Reddit has cozied up to the crypto asset space in the past: In 2020, the platform launched Moons and Bricks — tokens running on Ethereum’s blockchain. Those who contributed to the cryptocurrency section of the social media site could receive Moons or Bricks as rewards and spend them for specific benefits. But Reddit pulled the plug on the blockchain-based reward service in November, citing problems with scalability and regulation.

While the social community platform reported roughly $804 million in sales in 2023, a decent 20.5% year-on-year increase, profitability remains somewhat of a pipe dream with a net loss of $91 million. The San Francisco-headquartered firm expects to commence trading on the NYSE in March.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Cardano’s Charles Hoskinson Warns of Centralization Risks in the Crypto Industry

Cardano’s Charles Hoskinson Warns of Centralization Risks in the Crypto Industry

By Newton Gitonga – February 22, 2024

Charles Hoskinson, the founder of Cardano, has issued a stark warning about the dangers of centralization in the cryptocurrency industry.

Speaking during a live broadcast titled “Legacy is Eating Crypto” on Monday, Hoskinson cautioned that the growing influence of a small number of powerful actors could undermine the core principles of cryptocurrency, such as decentralization, privacy, and equality.

Notably, the pundit highlighted the rapid growth of stablecoins, such as Tether (USDT) and USD Coin (USDC), which now account for approximately 70% of all on-chain transaction volume. According to Hoskinson, these stablecoins, backed by traditional assets, are subject to the regulations of their jurisdictions and central issuers, creating potential vulnerabilities and centralization risks.

“USDT and USDC…are asset backed which means that there’s a central issuer. There is a company who is regulated in a jurisdiction subject to that jurisdiction’s rules and regulations, and whatever that jurisdiction wants to put upon that company, permissive or otherwise, they are subject to it cannot get out of it,” said Hoskinson.

In contrast, Hoskinson advocated for algorithmic stablecoins, which are not backed by traditional assets and operate decentralised. Notably, algorithmic stablecoins, such as DAI, maintain their value through algorithms and smart contracts without relying on a central issuer or traditional assets. However, the crypto market has been cautious since the TerraUSD (UST) de-pegging incident in May 2022, which raised concerns about their safety and caused a ripple effect on the broader crypto market.

Despite the risks, algorithmic stablecoins offer advantages such as decentralization, autonomy, and potentially higher yields. Developers have thus been improving their design and functionality, positioning them as a potentially significant force in the cryptocurrency market.

Hoskinson also criticized the increasing power of a small number of Legacy actors, including centralized exchanges, regulated institutions, and ETF holders like BlackRock, who control a significant portion of the value flow in the cryptocurrency market. He argued that these entities have the power to decide the future of cryptocurrency projects, as they can influence listings, liquidity, and regulatory compliance.

“As more of these Legacy actors come in, they’ll acquire more and more of the supply. They already have a fifth of what Satoshi has,” Hoskinson added. “10 Legacy regulated institutions control the vast majority of your value flow and also get to decide the future of all of these projects.”

That said, Hoskinson emphasized the importance of preserving the core values of cryptocurrency, including freedom of association, commerce, and expression, and the need to resist the encroachment of legacy actors in the industry. He further urged the community to remain vigilant and to consider the long-term consequences of centralization and the potential erosion of the core values of the cryptocurrency movement.

Notably, Hoskinson has consistently advocated for decentralization, even as Cardano continues to receive improvements aimed at promoting security, scalability, and sustainability while empowering users and developers with greater control and autonomy.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

XRP Solana Cardano Shiba Inu Making Up for Lost Time as Big Whale Transaction Spikes Pop Up

XRP, Solana, Cardano, Shiba Inu Making Up for Lost Time as Big Whale Transaction Spikes Pop Up

By Brian Njuguna – February 19, 2024

As the crypto market continues to enjoy notable bullish momentum, altcoins are riding on this wave thanks to heightened whale transactions.

Taking on X (formerly Twitter), leading on-chain metrics provider Santiment acknowledged, “While Bitcoin profits are being distributed to various altcoins, several are showing signs of drawing whale interest.”

Therefore, Injective (INJ) and Basic Attention Token (BAT) have led the altcoin race as whales show soaring interest on the foundation of factors like their notable use cases.

For instance, INJ is revolutionizing the decentralized finance (DeFi) sector by enabling Web3 members to stake for rewards and approve proposals for protocol upgrades, among others.

Are Altcoins Eyeing Hype Cycles?

With Bitcoin recently breaching the $52,000 level, altcoins are eyeing this bullish run after several weeks of retracement.

Leading crypto analyst Rekt Capital acknowledged, “With the Bitcoin rally in progress, it’s a matter of time before that money flows into Altcoins. Altcoins are getting ready.”


Source: RektCapital

Therefore, this analysis suggests that altcoins might be gearing up for hype cycles that could increase prices.

Some top altcoins, such as Ethereum (ETH), have been leading the altcoin rally, given that the second-largest cryptocurrency based on market value is edging closer to the psychological price of $3,000.

ETH was up by 12.5% in the past week to hit $2,935 at the time of writing, according to CoinGecko data.

Therefore, altcoin bulls are not relenting on their quest to scale heights, with Solana (SOL), XRP, Shiba Inu (SHIB) and Cardano (ADA) recently recording massive gains after making a major U-turn.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brian Njuguna and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley