New data from market intelligence firm Santiment hints at a potential correction for popular dog-themed memecoins Dogecoin (DOGE) and Shiba Inu (SHIB). The cryptocurrency analytics platform said in a new thread on social media platform According to Santiment, traders are flocking to DOGE and SHIB due to fear of missing out (FOMO), which could cause the altcoins to print local highs. “As people anticipate Bitcoin’s imminent $70,000 outflow, traders are doubling down on the highly leveraged speculative meme coin, with discussion rates reaching their highest level in five months. Meanwhile, layer 2 like Arbitrum and Optimism are being ignored. Speculative…
Author: Crypto Flexs
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Darius Varu October 16, 2024 13:02 Take a look at the potential impact of the 2024 US presidential election on cryptocurrency markets, as analyzed by Bitwise Investments. Understand the key questions investors should consider this political season. The upcoming 2024 US presidential election is expected to have a significant impact on the cryptocurrency sector, according to a recent analysis by Bitwise Investments. As the political season heats up, investors are keenly watching how the election results could impact the digital asset landscape. Political Impact on Cryptocurrency Regulation Regulatory clarity remains a top concern for…
YouTuber Coffeezilla is going back and forth over Andrew Tate’s transition from cryptocurrency commentator to meme coin promoter. The YouTuber, whose real name is Stephen Findeisen, previously ran a clip of Tate describing himself as a cryptocurrency skeptic. Coffeezilla also cited a quote in which Tate appears to have no interest in releasing coins or exploiting fans. “I love cryptocurrency Twitter. Because cryptocurrency Twitter is full of the biggest corrupt losers on the planet.” Tate once said that cryptocurrencies provide “zero” benefit to society. See below. “Cryptocurrency is the only scenario where you can make a lot of money while…
In a new blog post titled “Possible Futures of the Ethereum Protocol, Part 2: The Surge,” Ethereum co-founder Vitalik Buterin describes Ethereum’s transaction processing capacity across Layer 1. It outlined an ambitious roadmap that aims to scale beyond 100,000 transactions per second (TPS). (L1) and layer 2 (L2) solutions. Known as “The Surge,” the plan seeks to improve scalability while maintaining decentralization and security. Buterin began by reflecting on Ethereum’s initial scaling strategy, which included sharding and layer 2 protocols such as state channels and plasma. He wrote that initially, Ethereum had two expansion strategies on its roadmap. It refers…
According to analysts, SOL could rebound amid the new memecoin craze on the chain. However, SOL was in a key near-term supply zone at press time. Will it be erased? New memecoin speculation Solana (SUN) It can increase the long-term value of altcoins. Ryan Watkins, co-founder of cryptocurrency VC firm Syncracy Capital and former Messari researcher, argued that Solana’s memecoin moat could boost its upside, citing the recent craze surrounding the AI-generated GOAT token. that stated, “I don’t really care if memecoins are a new religion or if AI agents actually start an on-chain cult. All I know is that…
Yorg Healer October 16, 2024 13:42 The Ethereum Foundation’s 2024 Translatathon saw a 50% increase in contributors, translating 2.53 million words into 70 languages, expanding Ethereum’s global reach. The Ethereum Foundation has successfully concluded its 2024 Translatathon, achieving an important milestone in its mission to make Ethereum content accessible in multiple languages. According to the Ethereum Foundation Blog, this year’s event saw 327 contributors translate 2.53 million words into 70 languages. Understanding the Translatathon Translatathon is an annual translation competition aimed at increasing the availability of non-English Ethereum content. Open to anyone who is…
Tether’s US dollar-denominated stablecoin has surpassed $120 billion in market capitalization for the first time, signaling a potential cryptocurrency rally.The USDt (USDT) of Tether, the world’s largest stablecoin, surpassed $120 billion on October 20, according to the Tether website, which provides real-time updates on stablecoin supply.Tether tokens are in circulation. Source: Tether.toStablecoins are the main gateway between the worlds of fiat and digital assets. Increasing stablecoin supply is often used as a signal to predict an upcoming bull rally. This is because it suggests that investors are investing in stablecoins before investing in cryptocurrencies.An increase in USDT supply could help…
Bitcoin (BTC) will “come back into the spotlight,” according to a new analysis, as BTC price gains catch up with U.S. stocks.Caleb Franzen, founder of financial research resource Cubic Analytics, saw the potential for a surge in the price of BTC in his latest blog post on October 19th.“Highly Effective” BTC Pricing Tool Calls for ProfitsAs the S&P 500 repeats its all-time highs, Bitcoin should recover to match the recent performance of U.S. stocks.The writing may be on the wall for Franzen comparing BTC/USD to the Invesco S&P 500 Equal Weight ETF (RSP).“Comparatively, Bitcoin generated no new ATH compared to…
Over the past week, Bitcoin (BTC) has been gaining attention from investors from all walks of life. From short-term traders to institutional players. This can be seen in the strong performance of the spot Bitcoin ETF last week. Likewise, the Bitcoin derivatives market appears to be witnessing an increase in risk-taking behavior by traders, as evidenced by recent on-chain data. The Bitcoin market has now entered the ‘danger zone’ — what’s happening? Leverage is a tool that allows traders to control significant positions with relatively small amounts of capital. Although leverage helps traders and investors increase their potential returns, it…
Jessie A. Ellis October 16, 2024 15:30 Paxos is introducing the Wrapped Lift Dollar (wUSDL) to the Injective (INJ) network, providing users with a stablecoin that can earn yields on government bonds and enhance DeFi interactions. According to the Injective Blog, Paxos South America has officially launched Wrapped Lift Dollar (wUSDL), a high-yield stablecoin on the Injective (INJ) network. This new addition allows users to leverage stablecoins across Injective’s decentralized finance (DeFi) protocols while also benefiting from yield returns. Stablecoin that produces returns wUSDL is a wrapped version of the Lift Dollar (USDL) designed…