As cryptocurrencies redefine the financial landscape, Ethereum and TON tokens are seeing significant activity in the market. While Ethereum faces scalability issues that impact its market position, TON token leverages strategic partnerships to increase its market capitalization ranking. In these changes, BlockDAG It stands out with its strong roadmap and upcoming X1 mobile mining application, making cryptocurrency mining more accessible and efficient, potentially positioning it as a viable player with notable market impact by 2025.
Ethereum price crash and Bitcoin’s shadow
The 10x Research report raised concerns about fundamental issues affecting Ethereum’s ecosystem and Bitcoin, given the close correlation. Ethereum, once considered revolutionary for banking, now struggles with scalability issues, while Bitcoin is establishing itself as the digital standard. The high correlation, with an R-squared of 95%, suggests that Ethereum’s difficulties may hinder Bitcoin’s ability to attract fiat investment.
Moreover, the price of Ethereum plummeted, which was further exacerbated by the liquidation of FTX and hackers’ money laundering through Tornado Cash. Currently below the crucial $3,132.80 level, the outlook for Ethereum is bearish, with the pair likely to fall to $2,905.30 unless it rebounds past this pivotal point.
Additionally, bankrupt FTX accelerated its Ethereum sales, liquidating more than $12 million this week. Large-scale hacks involving Poloniex and Kronos Research resulted in large amounts of ETH being moved to Tornado Cash for laundering, highlighting ongoing security concerns in the cryptocurrency sector.
TON’s $21 valuation path
Turning into another major player, the TON token entered the top 10 cryptocurrency tokens by market capitalization. TON’s rise has been driven by its integration with Telegram, active community engagement, and the prospect of a Telegram IPO in March 2024, with its price increasing 170% this year. A favorable technical setup means additional potential profits.
Specifically, the price of TON formed a ‘bull pennant’, indicating the possibility of the upward trend continuing. This pattern, indicated by converging trend lines and low volume, could push the price up 256% to around $21 if supported by increased volume.
However, the price of TON fell slightly on May 6 due to recent profit taking. The 20-day EMA is critical to maintaining a bullish trajectory and with RSI at a neutral 53.6, there is room to grow towards resistance at $6.4 and potentially $7.
BlockDAG’s X1 app for efficient, on-the-go mining
By switching to BlockDAG, the company successfully raised over $25.4 million in funding. Cryptocurrency Pre-sale, is targeting a $600 million target, backed by a detailed roadmap and early-stage development, including P2P engine and Ethereum Virtual Machine compatibility. With the upcoming release of the X1 mobile mining application, designed to make cryptocurrency mining more efficient and user-friendly, BlockDAG is set to redefine the mining landscape. The app allows users to mine BDAG coins without consuming battery or data, making mining on the go possible.
In the next phase, expansion of the platform will continue with the development of BlockDAG Scan, the second step of the roadmap, which will increase network visibility and engagement through features such as a user-friendly dashboard and support for NFT contracts. Meanwhile, the third phase introduces the X1 Miner application, which integrates a recommendation system and competitive leaderboards to encourage community participation and improve transaction management.
Looking ahead, BlockDAG’s strong strategy and technological advancements are expected to attract additional investments, as the beta version of the X1 application is expected to be released soon. This strategy is consistent with the goal of making cryptocurrency mining accessible and attractive, offering the potential for significant profits with prices expected to rise to $10 by 2025.
last call
While Ethereum struggles with scalability issues and the TON token seeks further market integration, the introduction of BlockDAG’s X1 mobile mining application promises to improve the accessibility and efficiency of mining practices. BlockDAG’s comprehensive approach could redefine user engagement and profitability in the cryptocurrency mining sector as we move towards a bright future with potentially significant returns.
Join the BlockDAG presale now:
Website: https://blockdag.network
Pre-sale: https://purchase.blockdag.network
telegram: https://t.me/blockDAGnetworkOfficial
Dissension: https://discord.gg/Q7BxghMVyu
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