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#DogeCoin 🚀Dogecoin Network Expands with Over 890K New Addresses Dogecoin has seen significant network growth and user engagement, influenced by unique integrations and potential payment platform adoption. Network Expansion: Dogecoin's network is enjoying a surge with an astounding 890,000 new addresses in just one week, including a remarkable day that saw over 247,000 new entries. This burst in network growth coincides with broader market attention and a spike in network activity, indicating a lively engagement from the new cohort of users. New User Engagement: A promising 86% of the new Dogecoin address owners are actively participating in transactions, signifying not just a growth in numbers but genuine use of the network. Such activity is a testament to Dogecoin's increasing traction among cryptocurrency enthusiasts. Factors Driving Growth: The growing interest in Dogecoin, marked by the integration of Doom via 'Doginals', mirrors Bitcoin's Ordinals, allowing for unique data inscriptions. Additionally, the potential integration of Dogecoin for payments on Elon Musk's X platform has added to the positive speculation, creating a buzz around the 'meme' coin that once began as a joke but is now vying for a serious position in the crypto market.

#DogeCoin

🚀Dogecoin Network Expands with Over 890K New Addresses

Dogecoin has seen significant network growth and user engagement, influenced by unique integrations and potential payment platform adoption.

Network Expansion:

Dogecoin's network is enjoying a surge with an astounding 890,000 new addresses in just one week, including a remarkable day that saw over 247,000 new entries. This burst in network growth coincides with broader market attention and a spike in network activity, indicating a lively engagement from the new cohort of users.

New User Engagement:

A promising 86% of the new Dogecoin address owners are actively participating in transactions, signifying not just a growth in numbers but genuine use of the network. Such activity is a testament to Dogecoin's increasing traction among cryptocurrency enthusiasts.

Factors Driving Growth:

The growing interest in Dogecoin, marked by the integration of Doom via 'Doginals', mirrors Bitcoin's Ordinals, allowing for unique data inscriptions. Additionally, the potential integration of Dogecoin for payments on Elon Musk's X platform has added to the positive speculation, creating a buzz around the 'meme' coin that once began as a joke but is now vying for a serious position in the crypto market.

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#BTC #Halving2024 🚀The Halving Phenomenon: Bitcoin's Built-in Scarcity Mechanism 🚀 The article provides an insight into the Bitcoin halving event, its impact on miners and market dynamics, and the evolving nature of Bitcoin investment and valuation. Understanding Bitcoin Halving: With the advent of a new exchange-traded fund (ETF) and Bitcoin's price rebounding towards $50,000, the focus shifts to the anticipated mid-April Bitcoin halving. Occurring every four years after 210,000 blocks, the halving reduces miner rewards, thus upholding Bitcoin's scarcity by curbing the influx of new coins into circulation. Historically, these events have buoyed Bitcoin’s value, as they underscore the cryptocurrency's scarcity and lure fresh investment to the sector. Halving Impact on Market Dynamics: Examining the halving's impact from 2010 to 2024, data from CoinDesk reveals a narrowed distribution of Bitcoin returns and a market evolving from a niche interest to an institutionally-recognized asset. This maturity leads to diminishing returns and volatility over subsequent halvings, suggesting investors temper their expectations, as past performance does not guarantee future results. The Miner's Perspective: Halving directly influences Bitcoin miners by slicing block rewards, prompting potential industrial consolidation due to heightened competition and cost pressures. Over time, as the finite supply cap of 21 million Bitcoins is reached, mining will pivot to transaction fee-based revenues. Moreover, the advent of supporting crypto innovations offers additional revenue avenues for miners in this evolving landscape.
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#BTC #ProfitPotential 🚀Bitcoin's Supply in Profit Nears 95% Mark: A Top Signal? 🚀 Bitcoin's supply in profit is nearing 95%, a level that often signals a potential peak in market value. Understanding Bitcoin's Supply in Profit: Recent on-chain data indicates that the percentage of Bitcoin supply in profit is nearing the critical 95% mark amidst the latest price rally. This threshold is often viewed as a potential signal for the asset reaching a peak in value. The Percent Supply in Profit metric evaluates the proportion of Bitcoin that has unrealized gains by examining the blockchain history and comparing past transaction prices with the current spot price. Historical Trends and Indicators: An increase in the Percent Supply in Profit, as seen in a provided chart, generally aligns with price surges for Bitcoin. Notably, during this uptrend, Bitcoin's price approached $49,000 before a slight pullback. The chart highlights zones where past market behaviors have been indicative of potential tops and bottoms for the cryptocurrency. Market Implications: Holding a high percentage of supply in profit could suggest that many investors may soon sell to realize their gains, potentially resulting in a market top. Conversely, when the indicator is below 50%, it suggests that the market has fewer investors with profits to take, often signaling a bottom. With Bitcoin's Percent Supply in Profit approaching the 95% mark, there is speculation that the currency might be at a local top, especially considering the price has recently corrected to around $47,900.
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