Our experts analyzed the market situation and told us how it might change in the coming week for Bitcoin
Last week was a good week for bitcoin. Since the beginning of last week, the price recovered by 9.43% to $67,280. And from the weekly low of $60,187 - by 10.7%. The main drivers for the U.S. dollar and risk assets were a rally in GameStop (GME) shares. As well as April inflation data and related expectations for Fed action.
Upcoming important events this week
In the week from May 20 to 26, protocols of the May meeting of the American Central Bank (May 22) will be published. And market participants will probably be able to better understand the prospects of its monetary policy. The publication of the protocol is important for determining the course of the Fed's current policy and the prospects for raising or lowering the interest rate in the US.
Possible scenarios of Bitcoin price development
The week ended on a positive note, and bitcoin, which traded at the beginning of the last week just above $61,000. Bitcoin gained 8% on the back of encouraging data on the state of the U.S. economy.
The main news of the economic calendar of the past week was the publication of data on inflation in the United States. In April it decreased from 3.5% to 3.4% year-on-year. This gave investors hope that the trend would reverse and the U.S. Federal Reserve would soon reach its 2% target. Investors agree that the key rate will start to decline in the second half of the year. In turn, the reduction of the key rate will return the market participants' appetite for risk and increase the attractiveness of risky assets.
On May 15, immediately after the news of lower inflation in the U.S. bitcoin made a sharp jump of almost $2,000 - from $62,700 to $64,300 in a matter of minutes. This shows that inflation and the key rate in the U.S. are now the dominant factors. And affecting the mood of trading participants in the crypto market.
Simultaneously with the sharp rise in the bitcoin rate, the stock market's interest in bitcoin spot ETFs returned. By the end of last week, the daily trading volume of this instrument on U.S. stock exchanges exceeded $5.6 billion. Such volume has not been observed since March 24.
The main economic news of the next week will be the speeches of representatives of the U.S. Federal Reserve System. And which, without any doubt, will touch upon the issue of the regulator's monetary policy. Traders are also waiting for the publication of the minutes of the Fed's meeting, which took place in early May.
As usual, there are several scenarios. The most probable ones are further growth and movement to $68,500 or correction to $64,500. A fall to $60 thousand is still possible. But in the nearest week it is unlikely because of general enthusiasm of market participants after positive news about decrease of consumer prices growth rates in the USA. $BTC
#BTC🔥🔥🔥🔥🔥 #btcupdates2024

For the first time in years, bitcoin miners are in no hurry to sell their mined coins after halving them
Bitcoin miners have moved to accumulate coins after the fourth halving. Our experts recorded in early March one of the longest periods of reduced pressure from miners. And similar to what was observed at the bitcoin price of $16 thousand in January 2023. Pressure on the bitcoin price from miners has been falling for 14 consecutive days. Against the backdrop of growing inflows into spot bitcoin-ETFs and the increasing likelihood of a Fed rate cut in the fourth quarter. Bitcoin miners are now apparently building up their holdings of the cryptocurrency. In order to sell it off at a more favorable price.
CryptoQuant founder Ki Yang Ju noted significant changes in the revenue streams of miners due to the development of applications on the bitcoin network. According to his data, 7% of total revenue streams for miners now consists of transaction fees on the network, up from 1% just two years ago.
This change has been seen consistently over the past four weeks, and therefore has the potential to strengthen the fundamentals of the network, the CryptoQuant executive wrote.
According to experts at Fidelity Digital, the digital assets division within one of the world's leading investment firms, Fidelity Investments. Right now, pressure to sell the first cryptocurrency could come from long-term bitcoin holders. That is, those who have held the cryptocurrency for more than 155 days. The company's April report mentions that 99% of long-term holders of the first cryptocurrency were in profit. Since the beginning of the year, the price of bitcoin has increased by 46%, for a year's growth of 120%. And that, according to experts, may encourage investors to lock in profits, thus causing a correction in the cryptocurrency market.
$BTC #BTC🔥🔥🔥🔥🔥 #btcmining

Our analysts claim a new rate of return is forming in cryptocurrency mining after Bitcoin's fourth halving of Bitcoin
Bitcoin miners have started to feel the effects of halving - their income has fallen to a new low. After April 20, their main source of income was halved and they are forced to adapt to the new market conditions.
Halving is a planned and programmed event in the bitcoin code. New bitcoins are created by miners whose computers perform complex calculations. And who validate transactions in a public registry - the blockchain. These transactions are packaged into blocks, and the miners compete with each other to see exactly who finalizes a new block of transactions.
When a block of transactions is finalized by a miner, that miner receives the newly issued bitcoins in the form of what is known as a block reward. The size of this reward was halved once again on April 20 - from 6.25 to 3.125 BTC.
Bitcoin miner profits are made up of two factors
The first is this a fixed fee for adding new transaction blocks to the blockchain. And from commissions for processing user transactions. The first source was scheduled to halve after the April 20 halving. And the second one kept at an atypically high level until the beginning of May. But also decreased already in the first days of May.
The size of commissions depends not on the amount, but on the size of the transaction data in bytes. Space in one transaction block is limited, and the higher the demand for it, the higher the commissions increase. With the advent of the Ordinals and Runes protocols (analogs of NFT for bitcoin), it became possible to add media files to transactions. This had a big impact on the total size of transactions. And, as a consequence, on the commissions received by miners for their processing.
The Runes protocol was launched at the same time as bitcoin halving; it can be used to issue collections of tokens, around which a speculative frenzy immediately arose. In an attempt to promote the transaction to the "anniversary" block numbered 840 thousand. And on which the halving took place, users paid inflated fees - more than $100 for transferring bitcoins and thousands of dollars for issuing ("mint") tokens of BRC-20 and Runes format. It is believed that tokens from the first blocks after halving may hold more value for speculators and collectors in the future.
Such an effect did not last long. By early May, total revenue from block rewards and commissions had already fallen to a new low of $26.3 million, according to Blockchain.com. Before the halving, miners were earning an average of about $60 million per day.
The wallet data of the largest mining pools is public. And that's why analytics services can track miners' income in real time. Public mining companies also send monthly financial reports to regulators, which are publicly available.
Halving logically reduced the number of bitcoins mined as well
Canadian mining company Hut 8 has reported. The company reported that in April it mined 36% fewer coins than the month before - 148 BTC compared to 234 BTC in March. According to The Miner Mag, Hut 8 dismantled more than 25,000 mining devices in April to minimize the downtime of unprofitable equipment.
The record bitcoin appreciation in March gave miners a significant income. And which they used to buy equipment or new capacities. For example, the American Bitfarms announced that it will spend $240 million to buy more efficient equipment. In order to adapt to the effects of halving. Marathon Digital, the largest U.S. mining company, spent more than $200 million to purchase data centers to house its equipment.
Our experts note that after halving, the average cost of mining one bitcoin will rise to $53 thousand. The founder of the analytical platform CryptoQuant, Ki Yong Ju, wrote that bitcoin needs to stay above $80 thousand. In order for mining on the most popular devices to remain profitable in the current environment. $BTC
#BTC #bitcoinhalving

The percentage price change in some major cryptocurrencies is stronger than that of bitcoin
Bitcoin continues to trade in a narrow range at $62-64 thousand, but some of the largest cryptocurrencies by capitalization show more noticeable growth dynamics.
The growth leader among the top 20 largest crypto assets is NEAR. This is a native token of the blockchain platform NEAR Protocol. Among the tokens of ecosystem blockchains or so-called first-level networks, positive dynamics is also observed in BNB of the BNB Chain network from Binance exchange and TRX - a native token of the Tron ecosystem.
Cryptocurrency aggregators refer to the group of tokens of Layer 1 (L1) blockchain coins. And which serve as the underlying infrastructure for applications, tokens and protocols. These include Ethereum, Solana, Cardano or TON, among others.
Of the other tokens in the category, entrepreneur Justin Sun's Tron blockchain token TRX showed growth. TRX rose almost 10% over the week with a capitalization of $10.5 billion.
Other Tier 1 networks from the top 20 in terms of capitalization, such as Solana, Cardano and Avalanche, generally follow the dynamics of bitcoin or fall in value even more actively. Solana, Cardano and Avalanche blockchain tokens lost about 5% during the week.
Our experts note that the largest price drop among ecosystem blockchain tokens is observed in TON - the coin has fallen in price by 15% over the past week. It reached $7.2 before Pavel Durov's speech at the cryptoconference in Dubai. And after the speech of the Telegram founder, the token systematically fell in price. As of April 29, Toncoin is trading at $5.2.

#BTC🌪️ #Solana’

The crypto market is full of platforms that make Airdrop for active users. Our experts tell you how to identify a promising project based on three criteria
Airdrop has become an extremely popular trend in the cryptocurrency market. On the one hand, users are migrating en masse to second-tier networks in the expectation of hunting for future Airdrops there. On the other hand, projects everywhere announce the release and distribution of tokens in advance in order to attract the audience.
Thus, the market is in a hype, which greatly disperses the attention of users. Previously, there were only a few projects on the public ear, for the manifestation of activity in which you should expect a solid distribution of tokens. Now, since money and time are limited. And there are a lot of options - we have to choose which Airdrop is really worth hunting for.
The first and foremost criterion in selecting a project is the amount of investment involved in that project
There are several reasons for this. First, the presence of large financial injections indicates a potentially high valuation of the project in the future. This directly affects the rate of the future token and, consequently, the size of the eirdrop in terms of dollars.
Secondly, the presence of large investors is also a kind of guarantor that there are no fraudsters behind the platform. As a rule, investment funds do know where they put their money. The identities of the developers are known, where they live, where they are registered. This significantly reduces the risk that the founders of the project will be able to misappropriate the assets of users and hide with them. Since in this case it will be easier for the police to find them.
Third, significant investment is a resource for both creating a good product and organizing a successful marketing campaign.
It is especially good when the investors are well-known large investment funds. For example, such as Binance Labs, Blockchain Capital, a16z and others. These are titans of the crypto market who know their business and usually support projects at the development stage and beyond.
Second criterion is the number of users and competition in this Aridrop
The presence of large investments and big names among investors is not enough. At least because the project may fail and not pay off. But another reason could also be "overfarming". When there are too many users hunting for a giveaway. And the allocation of tokens for each may turn out to be too small.
So, if you have chosen a few projects with good investments. Then you should check them for the number of users chasing the future Airdrop. Or check what you need to do to get at least into the first 50% of the user rating.
To do this is not so easy, projects do not always give transparent information on this matter. So you have to look for it in roundabout ways. Here are two options:
Today, many projects have introduced a points system, on the basis of which future tokens will be distributed. As a rule, the project publishes a rating of users by the number of points they have accumulated. Having analyzed this rating, you can estimate what you will need to do to get ahead of most of your competitors.
If, say, to get into the top 20-30% of users will require a huge effort - probably, the project is "overfarmed", and it is not worth spending time and money on it. And vice versa: the easier and cheaper it is to gain points and move higher in the ranking. The greater the potential of the airdrop size specifically for you.
Another example: the derivatives platform Satori.
Despite the huge number of users, get into the first 10 thousand by rating. And it is enough to invest on the platform a couple of thousand dollars for a few weeks.
In the second option and when working in the networks of the second level, the analytical platform Dune will help you. It allows you to see statistics on different blockchains for all wallets. You can find out how much users have invested. And how many transactions they made and for how much, how many days and months they were active.
Based on this information, you can figure out what you need to do to outperform most of your competitors in terms of activity. Our experts recommend trying to get at least into the first 30% of the rating. It is likely that those who are not in the top 50% will be left without an Airdrop or receive a low allocation.
Third criterion is the time the project has been in existence and the expected time to Airdrop
We have selected a few projects with large investments - then we have weeded out those with large competition - now we need to understand how long we have left to wait for a potential Airdrop. If there is a high probability that the distribution will be in a month or two, it is better to skip this project for two reasons.
First, you risk not having enough months of activity to get an eirdrop.
Secondly, even if you know that airdrop is a month away and the snapshot hasn't been made yet - it's still debatable to stop on this project. You'll be way behind in points from early users and won't have time to gain much allocation. Therefore, it only makes sense to participate in such giveaways if there are no alternatives. It is better to strive to join the project at an early stage.
Conclusions
It is not easy to find interesting projects with good airdrop potential, but it is not so difficult. Yes, you need to spend time, gather statistics and analyze them. But this is the job of an " airdrop hunter", and it is important to do it. It will help you avoid an extremely unpleasant situation. And in which you will not only waste money and time on an empty project. And you'll also miss out on another good giveaway.
Of course, you can do simpler and focus on airdrop, which are known to everyone. This is also a working solution: if a huge community is hunting for a particular giveaway, it's for a reason. However, by following the masses and Influencers, you are more likely to arrive at an "overfarmed" project and later than others.
Your main task is to find a project with good investments, enter it before the majority. And when it becomes famous - move to the next potential airdrop.
#Airdrop‬⁩s #Airdrop_Opportunity

The growth of TON price coincided with the public expansion of the messenger. Our experts assessed the prospects for a cryptocurrency ecosystem with its support
The cryptocurrency Toncoin (TON) has secured its place in the top ten largest crypto assets by capitalization. And at the same time taking the ninth line of the CoinMarketCap rating between Dogecoin and Cardano. The price of the coin has grown two and a half times in the past month. The growth of its rate was greatly accelerated after the release of an interview of the founder and owner of Telegram Pavel Durov to the Financial Times. And in which he said that the messenger received a preliminary valuation of $ 30 billion before a possible IPO.
In the sensational interview with Tucker Carlson, Durov mentioned that he had "several hundred million in dollars and bitcoins" 10 years ago. And he "didn't do anything with them" because Telegram was "never about money" for him. Earlier, Durov said that of all cryptocurrencies he only holds Bitcoin and Toncoin.
Cryptocurrencies in Telegram
Formally, Telegram has nothing to do with projects in the TON ecosystem. And for which Toncoin serves as the main currency. But the messenger team is obviously supporting the developers. The messenger interface includes a cryptocurrency wallet that supports only bitcoin, USDT stablecoin and Toncoin itself. In it, you can also activate an additional Ton Space wallet. And which serves to interact with online projects operating on the TON blockchain. And tokens and NFTs issued on this blockchain.
On April 19, Durov is scheduled to make an announcement at the Token2049 cryptocurrency conference in Dubai together with Paolo Ardoino, the head of Tether, a USDT steiblcoin issuing company. Officially, the topic of the speech was not advertised. But in thematic Telegram channels and chats, the probable launch of USDT in the TON network is widely discussed.
Possible difficulties for the growth of the Ton ecosystem
The main difficulty that awaits TON is related to the market's transition into the inevitable phase of correction. The bulk of the audience today are "newcomers looking for an easy profit". And the cryptozyme crisis will hit such people the hardest, our experts believe. Indirectly, there are also risks from the U.S. Department of Justice, which may provoke new proceedings against Telegram. Especially since the precedent already exists in the legal field of the country and transferring it to a new token will be easier from the point of view of the law.
Possible difficulties may be related to excessive attention of regulators, primarily the US and the EU. Formally, Toncoin may fit the definition of an investment contract. And be considered as a security by the US SEC. In Europe, MiCA legislation comes into full force this year, and how European regulators will classify Toncoin is still unclear.
Another potential problem is abuse by criminal elements. This point will be especially relevant if the TON blockchain is used to issue stablecoins. For example, the Tron network (the most popular of those on which USDT operates) has already been accused of aiding and abetting terrorists. According to the U.S. authorities, Tron is used by them even more than bitcoin - it is the stablecoins that are used first and foremost.
 #tonusdt #TONCOİN

Ethereum, the second most capitalized cryptocurrency, showed the most significant growth since the beginning of April
Our experts, believe the rise of the second cryptocurrency is due to the market's wait for the US Securities and Exchange Commission (SEC) to approve spot exchange traded funds (ETF) on Ethereum.
According to unconfirmed reports, Ethereum ETF issuers held a meeting with SEC officials. This information comes from the co-founder of hedge fund Parataxis Capital. And which specializes in digital assets, Edward Chin and has not yet received official confirmation.
Following the debut of a group of bitcoin spot ETFs in the U.S., several management companies, including BlackRock, Fidelity. And Ark Invest, have filed applications with the SEC to create spot ETFs on Ethereum. The regulator could approve such funds as early as May this year. And according to estimates from S&P Global and ETF market analysts at Bloomberg.
Analysts at brokerage Bernstein published a report estimating the probability of Ethereum-ETF approval before May at approximately 50%.
However, on March 20, the SEC postponed the deadlines for reviewing ETF launch applications from asset managers Ark 21 Shares. And Hashdex to May 24 and May 30, respectively. And after that, Bloomberg analyst James Seyffarth said the chances of an Ethereum-based exchange-traded fund being approved in May have diminished significantly.
According to Jeffrey Kendrick, head of currency and digital assets research at Standard Chartered, the price of ETH could rise to $4k on expectations of Ethereum-based spot exchange-traded funds (ETFs) approval.
While bitcoin is recognized as a commodity in the U.S., the Ethereum cryptocurrency wants to be recognized as a security.
In March, the SEC launched an investigation into ETH. And demanded documents from the Ethhereum Foundation, a non-profit organization associated with the cryptocurrency.
The reason for the investigation was the transition of the Ethereum blockchain to a staking mechanism instead of mining. Many of the crypto-assets, the issuance of which is carried out by staking (proof-of-stake algorithm), have already been equated to unregistered securities in June 2023 in lawsuits against major crypto exchanges. $ETH
#ETH🔥🔥🔥

Our experts analyzed situation on the crypto market and told how the price of Bitcoin can change
The week of March 25-31 was relatively quiet. The following key factors influenced the crypto market. This is the dynamics of the U.S. dollar, stock indices and futures on them. As well as data on inflation in the U.S., measured by the PCE index, as well as the speech of the head of the Federal Reserve Jerome Powell. News about the accusations against the KuCoin exchange caused concerns and led to a massive outflow of funds from the platform. But it did not have a strong impact on the market either and Bitcoin.
Last week's analysis
On March 25, bitcoin showed a strong growth of 3.97% and closed at $69,880 per coin. This rise occurred after the bulls were able to overcome an important resistance level at $65,430 on Sunday. And that marked the break of the local downtrend.
On March 26, the BTC/USDT pair rose 0.15% to $69,988, hitting an intraday high of $71,561. Buyers took a pause, retreating to $69,280.
March 27 saw increased volatility. The BTC/USDT pair fell 0.74% to $69,469 after a failed attempt to break above $71,769. The price slipped 5% to $68,359, but did not go below this level.
On March 28, the BTC/USDT pair rose 1.89% to $70,780. The price touched $71,500 three times. But it failed to move higher because of the S&P 500 futures drawdown before the close of trading.
On March 29, trading on the BTC/USDT pair ended with a 1.31% decline to $69,850. Despite the buyers' attempts to develop upward dynamics, they failed to hold the gained positions. During the U.S. session, the bitcoin rate fell to $69,000.
As on this day the exchanges of the USA and Europe were closed due to Easter holidays. The cryptocurrency market was deprived of the guidelines set by traditional markets. The pressure on prices could be exerted by the published data on inflation in the United States. As well as the speech of the Chairman of the Federal Reserve Jerome Powell.
By the time the trading closed, the bitcoin price recovered to $69,850. And remaining within a four-day sideways trend with a range of $68,350 - $71,550 (the maximum of the week was $71,769).
U.S. inflation data and a speech by Federal Reserve Chairman Jerome Powell
According to the released figures, inflation in the US, as measured by the change in the price index of personal consumption expenditures (PCE). And rose to 2.5% year-on-year in February. The core PCE price index also showed an increase. These data were in line with expectations. However, they did appear to have put some pressure on the market. As traditional exchanges were down, it was mostly bitcoin that reacted.
Rising inflation and Jerome Powell's words about the need to keep rates high could mean the following. That the Federal Reserve will be cautious about changing rates. Market conditions and new employment data will be key factors for future Fed decisions between April 1 and April 7.
Important events expected this week and possible BTC price changes
This week will be full of publication of important macroeconomic indicators. Therefore, we should expect increased volatility in all markets. On April 3, Jerome Powell will make another speech.
Currently, bitcoin is in a sideways with a range of about 5% or $3450. The technical picture remains on the side of buyers. The only potential negative factor could be the strengthening of the dollar after the long weekend.
Possible technical resistance levels could be $72,650 and $73,800. According to BitRiver estimates, on the sellers' side, $65,800 and $60,800 levels are the targets.
Our experts note that issuers of nine new spot bitcoin-ETFs. Which were launched on January 11, currently own more than 500 thousand BTC worth $35.2 billion at the current exchange rate. The first place by number of coins in the vault is occupied by BlackRock with about 250 thousand BTC. And in second place is Fidelity with about 150k BTC, and the top three is rounded out by Bitwise with 50k BTC. Before the upcoming halving, the demand for bitcoin remains high. And therefore, the support from institutional investors will remain for a long time.
$BTC
#BTC、

Investors are not in a hurry to part with their $BTC at current prices, our experts explain the reasons why
The average value of transactions on the BTC blockchain has decreased significantly from its 2021 peak. And recorded during the bull market. About it writes CoinDesk citing reports from experts.
"There are very few funds moving within the blockchain. And that is a sign of low liquidity and unwillingness of investors to sell their cryptocurrencies." This is also what Blockware Solutions analysts wrote in a newsletter "No one wants to sell," the experts added.
According to data from analytics company Glassnode, the average bitcoin transfer volume over the past two weeks was less than $200,000. In 2021, during the cryptocurrency market bull market, this figure often exceeded $1 million.
Experts attribute the decline in transaction volume to the concentration of spot market trading in exchange-traded funds (ETFs). In addition, other market indicators indicate that the share of bitcoins. Which have not moved online in three to five years, continues to grow. And long-term holders are in no hurry to sell their assets, expecting further growth in the BTC rate.
Prospects for BTC price growth
Our experts note that Blockware analysts predict. That in the coming months the price of bitcoin can grow to six-digit values. And the historical maximum may exceed $150 thousand.
Strong price growth will catalyze a sharp increase in transaction volume. Investors will start taking previously purchased coins to exchanges for sale, increasing the liquidity of supply - according to Blockware analysts.
The low volume of network transactions at the moment indicates that the market lacks sellers. Who are ready to part with cryptocurrency at the current price.
#BTC

Solana has surpassed Bitcoin in growth since the beginning of the year and is second only to the regular cryptocurrency market leaders in terms of cryptocurrency market share
The rate of native blockchain token Solana (SOL) on March 18 reached its highest since December 2021, momentarily reaching $209+ on the Binance exchange when paired with the Tether USD (USDT) stablecoin.
The capitalization of SOL, according to CoinMarketCap, reached an all-time high of $89.4 billion. And that made the token the fourth largest crypto asset after bitcoin (BTC), Ethereum (ETH) and the USDT stablecoin. SOL's previous capitalization high was $77.9 billion in November 2021.
Solana's price has risen more than 100% since the beginning of the year. But the token is trading below its all-time high at $250, reached in November 2021 during the peak of the crypto market.
New Solana Records
On March 18, the SOL token overtook the BNB cryptocurrency from the Binance exchange in terms of capitalization, which had long been ranked fourth in the Coinmarketcap rankings.
Search queries for the word "Solana" reached the index of 100. And that is an absolute record in the five-year history of the cryptocurrency. The previous peak was recorded in early September 2021 - then the value of search activity was 84. Experts attribute the surge of interest in Solana to the SOL price exceeding the $200 mark.
Benjamin Stani, director of business development at Matrixport analytical company, linked the growth of SOL price to active trading of memcoins issued on the Solana blockchain.
Over the weekend, Solana surpassed Ethereum in trading volume due to increased interest in Solana-based memcoins. Trading volume on SOL reached $3.52 billion on March 16, according to data from DefiLlama. And that's $1.1 billion more than the daily trading volume on Ethereum. However, the increase in activity has taken a toll on the network.
Our experts predict the coin to update the historic high, provided the rally in the cryptocurrency market continues. And expansion of the Solana blockchain application ecosystem. $SOL
#Solana🚀 #SOLmemecoins

Kaiko analysts note that the rate at which wallets with balances over $1 million are appearing is still below the previous Bitcoin bull market cycle
As the bitcoin exchange rate rises, an average of about 1,500 new "millionaire wallets" appear every day. And that hold $1 million or more worth of cryptocurrency. However, this figure is still lower than during the 2021 bull market, data provided by analytics platform Kaiko.
Transaction data on cryptocurrency wallets Bitcoin is public. But it is not possible to establish their belonging to a specific owner. Kaiko tools do not take into account the addresses of exchanges and other major crypto services.
The highest number of new wallets containing more than $1 million in bitcoins. And since the beginning of the year - 1,691 - was recorded on March 1. In 2020-2021, more than 4,000 wallets with a balance of about $1 million and more than 2,000 wallets with more than $10 million appeared every day.
In 2021, the crypto market was swept by a wave of retail investors eager to capitalize on the wave of excitement. However, in 2023, large investors behaved more cautiously. And sold their assets as bitcoin hit new highs, Kaiko writes.
Our experts note that the slower pace may also be due to the fact that the inflow of new capital has not yet gained momentum. And investors are storing their assets with trustees rather than in their personal wallets.
$BTC
#Bitcoin(BTC) #TrendingTopic:

A whole list of cryptocurrencies from the memecoins category have risen in price by hundreds of percent over the past month
Bitcoin has risen in price about one and a half times in the last month, so that its price has exceeded $66 thousand. But several well-known cryptocurrencies from the list of memecoins have overtaken the first cryptocurrency in terms of growth rates and brought their investors hundreds of percent of profit.
In the last 24 hours alone, the largest memecoins by capitalization have risen in price by tens of percent, according to CoinMarketCap. Among them, Pepe (PEPE), Bonk (BONK) and DogeCoin (DOGE) were the leaders of growth, adding 60%, 50% and 20% respectively.
Memecoins often grow significantly in value after Bitcoin and Ethereum rallies, and traders redistribute profits into altcoins.
The trigger for the rise in the price of memecoins may have been the soaring price of the PEPE token.
This happened after Binance, the world's leading cryptocurrency exchange, launched a promotion with an opportunity to get PEPE tokens as a reward.
Over the past seven days, PEPE has increased in value by 376%, and over the past month the coin has risen by 632%. The trading volume of the token on exchanges has increased by 100% in the last 24 hours and reached $3 billion.
This time, the growth of memecoins coincided with another wave of popularity of DOGE, which almost doubled in price in one week. The capitalization of the asset reached $24 billion. Dogecoin is in the top ten leaders in terms of market capitalization according to CoinMarketcap.
The Shiba Inu memecoin (SHIB), inspired by the Shiba Inu dog breed, was in the growth leaders, adding 30% in the last 24 hours. A mechanism to reduce the number of tokens in circulation continues to support its price. Earlier this month, the development team announced that more than 643 million SHIB tokens were burned during February.
Despite the risk of high volatility, some large platforms, such as Solana, see memecoins as a way to expand their ecosystem and interact with users.
On March 4, for example, the Bonk memecoin (BONK) rose in price by 56%. Over the past six months, the price of this cryptocurrency has increased by thousands of percent largely due to the integration of the token into the Saga smartphone from Solana developers. And whose owners could claim a free BONK token giveaway.
The current rise in the cryptocurrency's price coincided with the announcement of the BONK token development fund's partnership with Revolut, the largest licensed fintech company. And serving over 38 million customers across Europe. Floki Inu, a meme cryptocurrency inspired by Ilon Musk's dog, has broken into the top ten in terms of growth.
In the last seven days, the price of the FLOKI token has increased by 326%. Floki developers decided to pour oil on the fire by announcing in late February the burning of 2% of the total volume of tokens, which amounts to almost 200 billion FLOKI. Token burning is often considered by analysts as a factor that favors token value. New memcoins launching in late 2023, before the start of a bullish period in the crypto market, are generating notable returns for early investors.
New memecoins launching in late 2023, ahead of a bullish period in the crypto market, are generating notable returns for early investors.
The Solana blockchain-based token WIF has become one of the top altcoins in terms of growth over the past week. And having risen in value by nearly 400%. The growth was largely fueled by the token's addition to leading US brokerage platform Robinhood.
Our experts note that In late February, analytics platform Lokonchain reported on a trader who made almost $1 million on WIF. Back in November 2023, he bought 2.58 million WIF for $310 in the Solana cryptocurrency. On February 27, the price of WIF rose to $0.57, and the value of the coins owned by the trader reached approximately $1.4 million. Thus, his profit from investing in the WIF token was 4500%. $PEPE
#MemeCoinHunt #PEPE‏

The Uniswap proposal involves distributing a portion of the commissions. And which it charges from exchange pool liquidity providers to the UNI token holders involved in managing the protocol
The management token of leading decentralized exchange Uniswap (UNI) rose 70% in just an hour and a half on February 24. And reaching the maximum since April 2022. This happened after the developers suggested sharing the service's revenue with token holders.
The UNI token is the management token of Uniswap, the largest decentralized cryptocurrency exchange by capitalization. Its holders can participate in the management of the protocol through voting on various community proposals. Right now, the UNI token is trading at $10. But trading volumes dropped by more than 50% a day after the initiative appeared. The total value of blockchain assets on Uniswap exceeds $5 billion.
Uniswap Foundation announced a new motivational strategy for UNI token holders. The company plans to distribute commissions from protocol transactions to UNI token holders. And actively participating in the protocol management process. Key parameters related to commissions will continue to be controlled by the Uniswap Foundation itself.
Devin Walsh, executive director of the Uniswap Foundation, said the proposal aims to incentivize active delegation (of votes). And which will lead to the long-term success and sustainability of the protocol.
This isn't the first time the idea itself has been brought up for discussion, but this is the time when it could actually be implemented. According to Blockworks analyst Matt Feibach, it is unlikely that the Uniswap Foundation would have taken such a step without carefully assessing the sentiments of the largest token holders.
The idea of sharing profits with token holders immediately resonated with other projects. Following Uniswap, the Frax Finance protocol team is going to put a proposal to the community to vote on the distribution of the protocol's revenues among the holders of the project's derivative tokens. Following the publication that Frax plans to follow Uniswap's lead, the FXS token reacted with a short-term rise of 16%.
Our experts also note that the founder of the largest NFT platform Blur and the new blockchain ecosystem Blast under the pseudonym Pacman is also interested in the implementation of a user reward mechanism. And like Uniswap: he stated that the Blur community should follow their lead. The Blur token reacted to the publication by growing by more than 10%.
$UNI #UniswapFoundation #UNI

Historical data on market cycles and the value of one of the major technical indicators may indicate further Bitcoin appreciation
Bitcoin could surpass the all-time high of $69,000 by the time of the fourth halving, scheduled for the second half of April. About it writes CoinDesk.
Technical indicators
Based on data from the relative strength index (RSI) indicator, which measures the speed and change in prices, Markus Tillen suggested an acceleration of bitcoin's uptrend.
A week ago, bitcoin's 14-day RSI exceeded the 80 mark for the first time since December. According to 10X Research, 12 out of 14 times in the past when the RSI exceeded the 70 mark. That bitcoin price rose an average of 54% over the next 60 days.
"It's worth noting that the previous time this signal appeared, the bitcoin price was at $48k. When considering an average return of 54% over 60 days, bitcoin could rise to the $74,600 level," noted Markis Tillen of 10X Research.
The bitcoin price is at $52k, as of February 20, which is 25% above the price level at the beginning of the year and 207% above the low reached in November 2022. Bitcoin quotes are just 28% below the all-time high of $69k. And with that, the supply of coins will decrease as a result of the upcoming halving.
The second reason is Market Cyclicality
Our experts note that as previous cycles have shown. Which are related to bitcoin halving, the bottom of bitcoin price often comes 12-16 months before the halving. And then a period of growth follows, both before the event itself and for a year afterward. In the previous three cycles, bitcoin prices rose more than 30% in the eight weeks before the halving.
Based on historical data, bitcoin rises an average of 32% in the 60 days before the halving. "By the time of the halving or even earlier, the value of BTC could be approaching a record high of $69,000," CoinDesk quoted Marcus Tillen as saying.
The assumptions of other cryptocurrency market analysts coincide with the predictions of 10X Research. Analysts of the trading company QCP Capital published a note for investors. And in which they allowed the possibility of BTC exceeding the historical maximum already by the end of March. In their opinion, the price of digital currency will depend on the inflow of funds into exchange-traded funds (ETFs) and accumulation of options to buy bitcoin with strike prices of $60-80 thousand.
According to the calculations of another analytical company - CryptoQuant, the price of the first cryptocurrency can grow to $112 thousand. And if the current trend of inflow of funds into exchange-traded funds ( ETF) for BTC continues.
$BTC
#TrendingTopic #BTC‬

Open interest in BTC futures close to record high in November 2021
Open Interest (Open Interest) futures trading on bitcoin (BTC) exceeded $21 billion. And is approaching the record of $24 billion, recorded in mid-November 2021. And when bitcoin cost $65 thousand, writes CoinDesk with reference to data from the analytical service Coinglass.
In traditional trading under the open interest (Open Interest) is understood as the total number of purchase orders. Which are available at the time of market opening. In futures and options trading, Open Interest is the total number of contracts outstanding at a given point in time. This includes futures contracts that have not yet been exercised, have not yet expired, or have not been settled by delivery of the underlying assets.
Open interest serves as a metric for assessing the level of involvement of market participants in a particular futures contract. An active growth in open interest combined with an increase in the price of the asset may indicate an active upward movement.
The rise in interest in futures has coincided with the BTC price rising more than 25% over the past three weeks. And driven mainly by large-scale investments in spot bitcoin ETFs in the US.
The overall credit load in the market remains low. And that reduces the risk of price collapse and high volatility due to forced closure of long or short positions due to lack of collateral. According to CryptoQuant, bitcoin's leverage ratio recently increased slightly from 0.18 to 0.20, but is still far from last year's levels.
Our experts note that  Open interest in bitcoin-denominated futures currently stands at 430,500 bitcoins. And that is well below the October 2022 peak of 660,000 bitcoins, according to CoinGlass data. $BTC

#BTCFuture #BTCBULISH

Bitcoin and Ethereum showed growth for the first time after a sharp drop in late January
The bitcoin (BTC) exchange rate rose by 4% on February 8. And rising at the moment to $44,733 in a pair to the Tether USD (USDT) stablecoin on the Binance exchange. Our experts note that BTC last traded above $44,000 on January 24.
The second largest cryptocurrency Ethereum (ETH) also updated its two-week high at $2.44 thousand, adding more than 3% to its price over the day. The current year's high for Ethereum was reached on January 12 at $2719 amid investors' expectations of U.S. regulators' approval of spot ETFs for Ethereum. And applications for which were submitted by BlackRock, Grayscale and Fidelity Investments.
Now the jump in the price of ETH also came amid the filing of an updated joint ETF application from 21 Shares and Ark Invest, managed by Katie Wood. The document, in particular, updated data on the redemption mechanism for units of the future ETF. And information about the possibility of placing the fund's coins in staking in external services.
The latter fact caused a sharp growth of tokens of staking services. Thus, the rate of LDO token from the largest staking service Lido jumped by 7% at the moment. And when news of Ark Invest's updated bid hit the terminals. LDO is among the top 40 largest crypto assets by capitalization with a market cap of over $2.5 billion. According to the official website, Lido hosts $23 billion worth of ETH coins at the current exchange rate.
Other coins from the top 10 by capitalization also rose in price over the past 24 hours. The Solana (SOL) token rose more than 6% over the day, while BNB from Binance, Cardano (ADA), Dogecoin (DOGE) and Ripple's XRP rose in price by 3 to 9%.
$BTC
#BTC #ETH

Our experts analyzed the market situation and told how it may change this week for Bitcoin and the market as a whole
During the period from January 22 to January 28, the Bitcoin price showed high volatility. During the week, Bitcoin traded in a wide range from $38,555 to $42,246.
On Monday, January 22, the price fell below the $40k mark, reaching $39,480. The drop was caused by the active outflow of funds from Grayscale's bitcoin-ETF amid the endorsement of competing products.
On Tuesday, January 23, the Bitcoin price fell to a low of $38,555. And that led to a wave of liquidations in the futures market. The outflow from Grayscale continued to exert pressure.
On January 24 and 25, quotations consolidated in the range of $39,484 - $40,555 with multidirectional dynamics. High volatility remained on the market. Market participants were waiting for some new portion of positive news.
On Friday, January 26, at the end of the day, the BTC/USD pair rose by 4.66% to $41,823. Buyers managed to stop the collapse of the crypto market. After a 13-day drop of 21% from the January 11 high of $48,969, the price recovered 9.57% to $42,246. They have reversed the drop for January 22, and this is a positive for the whole market.
Reasons for the fall in the price of  Bitcoin
Bitcoin's downward correction has been largely attributed to redemptions in Grayscale Bitcoin Trust (GBTC). Before GBTC was converted into an ETF on January 11. And it was one of the few ways for U.S. investors to access BTC without owning the underlying cryptocurrency. After the long-awaited approval on Jan. 10, investors took the opportunity to sell their GBTC units, locking in profits on their trades. This meant an exit from the cryptocurrency market, hence the downward pressure on the bitcoin price. Outflows from the fund totaled nearly $4 billion.
The price bounced off the $38,555 support. The recovery accelerated after JPMorgan said that the peak of GBTC sales is mostly over. The upward correction intensified from the European session with the decline in the dollar index. The outflow of funds from the Grayscale trust slowed down, which led to an easing of pressure on the cryptocurrency.
BlackRock's iShares Bitcoin ETF iShares (IBIT) has had a significant impact on the cryptocurrency investment industry. In just 10 days after the fund's launch, the company has accumulated $1,982,095,794 or 49952.32570 BTC (from a report from BlackRock's website) in assets under management (AUM) after the fund's launch and market cap. The amount indicates a lot of interest among investors. At the current exchange rate, it is already over $2 billion.
When the price correction will end
Cautious investors have now taken a wait-and-see attitude. As this is only the first upward wave after the market collapse. Then sellers will check buyers once again. And how ready they are to defend the $38,555 level and raise the rate to $69k for Bitcoin by the halving, which will take place around April 20.
BitRiver predicts that the decline phase will end on February 10. Then we can test the level of $50 thousand. In order to support the bullish trend from the low of $24,901 from September 11, 2023. The higher the buyers drive the price, the less likely it is to update the $38,555 support.
There is great news for buyers now - a pin-bar is forming on the weekly chart - a green body with a long lower shadow. Our experts remind that the fall from $48,969 started with such an inverted candle. And this is a bid for growth up to $45 thousand.
Important events of this week
The economic calendar is quite full of important data. January 30 will see the release of Eurozone GDP data for the fourth quarter. January 31 will see the release of China's manufacturing PMI for January. And oil inventory reports from the American Petroleum Institute and the U.S. Department of Energy, the U.S. Federal Reserve meeting and J. Powell's press conference. On February 1, the States will publish the index of business activity in the manufacturing sector. And on February 2 - a report on the employment market (unemployment, new jobs, average hourly earnings). And also the consumer sentiment index from the University of Michigan for January.
As for the Federal Reserve's next moves, CME Group's FedWatch tool predicts a rate hike at next Wednesday's (Jan. 31) Fed meeting with a 96.7% probability. Votes in March are split, but the probability of a cut in May is estimated at around 87%.
$BTC #BTC #etf

Our experts analyzed the market situation and told us how it may change this week and what will be the price of Bitcoin
In the past week, Bitcoin's dynamics were determined primarily by the external background - the U.S. dollar, stock indicators and decisions of crypto market regulators.
After a sharp drop on January 12, Bitcoin price consolidated in the range of $41,500 - $43,500 for five days. On January 16, a local maximum was reached at $43,578. However, the excitement around the launch of the bitcoin-ETF in the US did not lead to sustained growth.
The pressure remained amid the strengthening of the dollar. And the negative dynamics of stock indices and continued outflows from the Grayscale fund. From January 11-17 alone, $1.624 billion was withdrawn from Grayscale.
On January 18, the SEC postponed its decision on Ethereum-ETF launch applications until March 5. This disappointed investors and triggered a resumption of the downgrade. On the day, BTC dropped to $40,630, and at the end of the day, it lost 3.4%, dropping to $41,327.
On Friday, January 18, the BTC/USD pair closed with growth. The price rose by 0.80%, to $41,659. At the beginning of the U.S. session, the bitcoin exchange rate was declining to $40,280. Sellers tried to pass the support of $40,500, but failed. Buyers were supported by two factors: the decline in the dollar index and the growth of stock indices. By the close of the day, the price went into the plus side. At the same time, all 11 bitcoin-ETFs showed growth of about 2%.
Despite Friday's decline, the US Dollar Index (DXY) ended the week in the plus on the back of rising US bond yields. And lower probability of rate cuts in March and May. According to the CME FedWatch Tool, the probability of interest rate cuts in March and May is 46% and 51%, respectively, compared to 76.9% and 17% as of Jan. 12.
Bitcoin price
Bitcoin is at $40,600+ at the time of writing this review. Our experts note that the price may trade above the key support of $40,500 until February 6. The downward movement from $48,969 to $40,280 has a three-wave formation. This means that the price may return to the level of $44,300 by January 23. A return to it would not be a signal to buy bitcoin. The probability of the price dropping to $38,500 by February 10 is more than 75%.
Buyers needed to go above $50k before January 8. Now it is necessary to form a bridgehead for a new rally before the halving in April. Trading volumes on spot bitcoin-ETFs are not bad. But the outflows from the Grayscale fund are very large, which makes many investors nervous.
If the trading range of $40,000 - $44,500 with an upward bias is maintained until February 10. Then the probability of a drop to $38,500 will be greatly reduced. According to BitRiver's forecasts, buyers need to pass the $44,500 level. In order to level out the "bearish" sentiment. We follow the news on ETFs, the dynamics of the dollar index and the S&P 500.
Among the key events in the week that may affect the dynamics of the dollar and cryptocurrencies: the publication of data on U.S. GDP (January 25) and U.S. inflation (January 26). Bitcoin belongs to the class of risky assets, so it is sensitive to the value of DXY. $BTC
#BTC-ETF #BTC

Our experts tell you what you need to know about the Celestia modular blockchain and what's driving demand for its native token
The price of the native blockchain token Celestia (TIA) reached an all-time high of $20 on January 15. In less than three months of its existence, the token has increased in price almost tenfold. And the demand for it continues to be supported by the excitement around new projects in the network ecosystem.
Celestia Labs, the company behind the development of the Celestia blockchain network, raised $55 million in October 2022, led by venture capital firms Bain Capital Crypto and Polychain Capital. Following this investment round, Celestia's project achieved "unicorn" status with a $1 billion valuation.
The venture capital arm of the Coinbase exchange also participated in its funding. And the cryptocurrency arm of major market maker Jump Trading, Mike Novogratz's Galaxy Digital and a number of other venture capitalists and business angels. Prior to that, Celestia developers raised $1.5 million in a seed round in 2021. And in October 2023, the OKX crypto exchange announced its investment in this project.
Modular blockchain
Celestia Labs has been led by Mustafa Al-Bassam. As a 2019 PhD student in Computer Science at University College London, he published a paper titled "LazyLedger". And in which he presented a radical rethinking of the principles of blockchain. He described the possibility of separating the various functions of a distributed ledger. And in particular, how users request data, into separate "application layers". A key benefit of this approach would be to minimize the total amount of resources required to run the underlying blockchain.
Al-Bassam is co-authoring three research papers with Ethereum ecosystem co-founder Vitalik Buterin. In one of his 2022 talks, Buterin presented Celestia as a solution for scaling so-called rollups. These rollups leverage such "second-level" solutions in various forms. Such as Optimism or Arbitrum, and with their help users can make much cheaper and faster transactions than in Ethereum at the base level.
Celestia's primary use case is expected to be offloading the Ethereum blockchain from having to process the massive amount of data being produced by the rapidly growing ecosystem of rollup-based networks. Celestia's solutions further improve the efficiency of the Ethereum core network. while taking over data storage and streamlining transactions. And then further transferring that data to other blockchains to complete transactions.
Technically, the Celestia blockchain is used exclusively for these needs. It does not perform smart contracts or computations, unlike other blockchain networks. Instead, the Celestia model outsources these functions to rollups or other blockchains. And this is a key component of its flexible, modular design. That said, developers building applications on the Celestia network can combine different elements of its infrastructure while keeping them compatible.
Token launch
To use Celestia for data processing, rollup developers conduct a separate type of transaction on the network. And for which they pay a commission in native tokens - TIA. In September 2023, Celestia developers announced the launch of the token and its distribution as an airdrop to early users of the network. And who showed activity and participated in its testing in the early stages.
During the distribution of 60 million tokens TIA distributed to the wallets of 191 thousand qualified participants of the airdrop. And that amounted to about 6% of their total supply of 1 billion units. More than half of the existing tokens are distributed to early investors and developers. And another 140 million TIAs are allocated to fund future project initiatives. A significant portion of these tokens remain locked: early investors will receive tokens in several stages between October 2024 and October 2025, while developers will receive tokens until October 2026.
The token was listed by Binance, OKX, Bybit, KuCoin and other major crypto exchanges on its launch day on November 1, 2023. According to the results of the first day of trading, the price of TIA was fixed at $2.44 with a capitalization of about $344 million.
Less than three months later, in January 2024, the rate of TIA increased almost 10 times. On January 15, the token reached $20, and the size of its capitalization soared to 3 billion, which put TIA in the top 30 largest existing crypto-assets.
Why TIA token rose in price
Airdrop as a tool for attracting users has not only benefited Celestia itself. Developers of several projects that use its blockchain. They also announced the distribution of their own tokens to those who help Celestia to maintain its work, acting as a so-called transaction validator. And with this they provoked even more demand for the TIA token.
The TIA token allows application developers to use Celestia's blockchain without having to deploy their own validator network. Thus, those who act as validators by hosting their own tokens in staking. now play an important role in the ecosystem: they ensure that not only Celestia itself works correctly. But also those networks that rely on it for data availability.
Demand for the TIA token, as well as its price, began to skyrocket after two projects announced at the very beginning of 2024. They announced that they would airdrop their own tokens to all those who hold TIA in staking. The first of which was Saga. And its developers announced the distribution of SAGA tokens among 27 thousand participants in the list of those who until December 1, 2023 held in staking from 23 TIA tokens.
The Dymension project team soon announced plans to distribute 20 million DYM tokens to everyone who held at least 1 TIA in staking. The tokens themselves haven't launched yet. But qualified participants of the distribution are already putting them up for pre-sale on OTC services, where the price of a DYM token reaches almost $5.
Against this background, more and more market participants started buying and placing TIA tokens in staking. And expecting new giveaways from other projects.
Airdrops proved to be an effective marketing tactic for new crypto projects. Projects like Berachain, Monad or Manta, which also rely on the Celestia infrastructure, are expected to launch in 2024. And our experts note that everyone also expects them to distribute tokens. $TIA
#celistia #TIAAnalysis

The U.S. SEC has issued a favorable ruling on the launch of Bitcoin ETF from BlackRock and other companies. These exchange-traded funds are expected to open access to cryptocurrency to a wide range of investors and attract new capital
The US Securities and Exchange Commission (SEC) has approved the launch of 11 exchange-traded funds (ETFs) investing directly in Bitcoin. And will open up access to the largest cryptocurrency in the traditional US financial market and beyond.
The SEC has authorized funds from all applicant companies, including BlacrRock and Fidelity Investments. And to begin trading shares on the New York Stock Exchange (NYSE), NASDAQ and Chicago Board Options Exchange (CBOE) starting Jan. 11.
Why a spot bitcoin ETF is importantVarious exchange traded funds (ETFs). And including gold, have trillions of dollars in assets under management. In the cryptocurrency community, it is widely believed that even a small percentage of this capital can potentially impact the global crypto market. After the approval of spot Bitcoin ETF, the demand for cryptocurrency should increase: buying shares of the funds implies the delivery of bitcoin as an underlying asset, that is, its direct purchase in the market, affecting the rate.
The decision came a day after SEC  X account (formerly Twitter) posted a false message that the agency had approved the ETF. Minutes after the publication appeared, the regulator said the account had been hacked. This led to sharp fluctuations in the bitcoin exchange rate. Which reacted with sharp jumps to each of the statements.
Regulator has been withholding approval to launch ETFs for more than a decade
Our experts note that back in 2013, twin brothers Tyler and Cameron Winklevoss, now owners of the Gemini cryptocurrency exchange, decided to create the first such fund. In June 2023, the world's largest management company BlackRock applied for registration of a bitcoin-ETF.
The ruling in favor of bitcoin funds came after Grayscale Investments scored a key victory over the SEC in court. A federal appeals court overturned the SEC's denial of Grayscale's application to convert its existing bitcoin trust into a full-fledged ETF. The court called the denial "arbitrary and capricious" because SEC officials were unable to make a compelling argument for banning spot funds. Back in 2021, the SEC approved several ETFs. Which allow investors to speculate on bitcoin futures. But the shares of such ETFs have no direct impact on the bitcoin market.
SEC Chairman Gary Gensler emphasized this in a public statement. According to him, it was the Grayscale case that was the tipping point for the regulator to change its rhetoric. Nevertheless, the agency still "does not endorse or support bitcoin itself." Investors, it said, should be wary of the "numerous risks associated with bitcoin and products whose value is tied to the cryptocurrency." $BTC
#etf #BTC