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Let’s dive into Altcoin Season and explore the rising stars here. Altcoins in Action! As meme coins take a backseat, altcoins like Ethereum (ETH), XRP, Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) are gaining momentum. Investors are reshuffling the crypto deck, seeking speculative assets beyond Bitcoin. As Bitcoin’s influence fades on meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), altcoins are taking center stage. Ethereum has crossed the crucial $4,000 milestone, joined by Ripple (XRP), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK). Litecoin (LTC), Stellar (XLM), and Near Protocol (NEAR) are also making gains, driven by anticipation for the Nvidia 2024 GTC Conference. Market observers, like @CryptoTony_, foresee a shift from meme coins to promising altcoins. The Wealth Effect Matt Hougan, CIO of Bitwise, explains the classic “wealth effect” at play. Crypto investors, pleased with Bitcoin profits, are now exploring greater returns in altcoins. Wealth is shifting from Bitcoin to altcoins, making them more popular. Historically, once Bitcoin breaks its all-time high (ATH), Altcoin Season follows within 2-3 weeks. The Total Altcoin Marketcap has surpassed $1 trillion, eyeing the ATH at $1.7 trillion. This Altcoin Season might differ due to the unique dynamics of the current bull market. Santiment’s insights reveal a shift, with Bitcoin reaching new highs and significant capital inflows through Spot Bitcoin ETFs. Altcoins gain attention amidst a growing total crypto market capitalization and trading volume. Mega Breakout Scenario Bitcoin’s rally, fueled by institutional investment after Spot BTC ETF approval in January, could extend the altcoin season, altering market dynamics. #HotTrends #AltSeason

Let’s dive into Altcoin Season and explore the rising stars here.

Altcoins in Action!

As meme coins take a backseat, altcoins like Ethereum (ETH), XRP, Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) are gaining momentum. Investors are reshuffling the crypto deck, seeking speculative assets beyond Bitcoin.

As Bitcoin’s influence fades on meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), altcoins are taking center stage. Ethereum has crossed the crucial $4,000 milestone, joined by Ripple (XRP), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK).

Litecoin (LTC), Stellar (XLM), and Near Protocol (NEAR) are also making gains, driven by anticipation for the Nvidia 2024 GTC Conference. Market observers, like @CryptoTony_, foresee a shift from meme coins to promising altcoins.

The Wealth Effect

Matt Hougan, CIO of Bitwise, explains the classic “wealth effect” at play. Crypto investors, pleased with Bitcoin profits, are now exploring greater returns in altcoins. Wealth is shifting from Bitcoin to altcoins, making them more popular. Historically, once Bitcoin breaks its all-time high (ATH), Altcoin Season follows within 2-3 weeks. The Total Altcoin Marketcap has surpassed $1 trillion, eyeing the ATH at $1.7 trillion.

This Altcoin Season might differ due to the unique dynamics of the current bull market. Santiment’s insights reveal a shift, with Bitcoin reaching new highs and significant capital inflows through Spot Bitcoin ETFs. Altcoins gain attention amidst a growing total crypto market capitalization and trading volume.

Mega Breakout Scenario

Bitcoin’s rally, fueled by institutional investment after Spot BTC ETF approval in January, could extend the altcoin season, altering market dynamics.

#HotTrends #AltSeason

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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The year 2024 looks promising for cryptocurrencies because of two important things. First, there's a chance that Bitcoin spot ETFs might get approved, attracting big investors. Second, there's the Bitcoin Halving, which happens every few years and is scheduled for April 2024. This event could change how much Bitcoin is around, affecting its price. With these two events, 2024 could be an exciting year for the crypto market. The outlook for 2024 appears cautiously optimistic. Analysts expect a continued rise in institutional investment, with Bitcoin and Ethereum ETFs expected. The shift towards Web 3 applications and the growth in Layer 2 solutions, especially for Ethereum, are seen as positive developments. Macroeconomic factors and regulatory changes will influence the markets. Looking ahead to 2024, there is considerable excitement within the crypto community. High expectations surround the approaching Bitcoin halving event, coupled with notable developments in the decentralised finance (DeFi) arena. Additionally, the potential approvals of Spot ETF applications filed by institutional investors are key events to watch out for. #HotTrends #2024
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What is Binance Launchpool？ Binance Launchpool allows users to acquire new token rewards by staking BNB, BUSD, and other tokens on the platform. How to access Launchpool? 1. Log in to your Binance account and click the navigation button - [Launchpad]. Then, scroll down to find [Launchpool] and the list of available and completed projects. You can also access Launchpool by clicking [Finance] - [Binance Earn]. Scroll down and click [View More] under [Launchpool]. How to participate in a new project? Let’s take Flamingo (FLM) as an example. On the Launchpool page, you can see the available staking options for farming FLM. For example, [Flamingo BNB] means that you can stake BNB to farm FLM. Click [Stake Now] to participate. Here you can see the project reward information and the estimated annual percentage yield (APY). [My Funds] shows your staked assets. [Available] shows the available balance for staking in your Spot Wallet. If you do not hold any BNB, you can click [Buy BNB]. You can then click [Stake] to stake BNB to farm FLM. Your assets can be redeemed any time by clicking [Redeem]. To view your staking records, click [Staking History]. [My Rewards] shows your unclaimed earned rewards, which are updated every hour. You can click [Claim Rewards] to claim the earned tokens to your Spot Wallet any time you wish. To view the claimed rewards or distribution history, click [Claim History]. Stake your idle assets today to farm new tokens! #HotTrends #Binance
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In a recent shift of perspective, Bloomberg analysts have significantly lowered the forecast for the approval of a spot Ethereum exchange-traded fund (ETF) by May — setting the probability at a mere 35%. According to Eric Balchunas, the odds are down sharply from previous estimates, which ranged between 60% and 70%. The revision reflects growing skepticism about the regulatory green light for Ethereum ETFs, contrasting the previously more optimistic stance. The caution among analysts follows recent discussions between Coinbase, Grayscale, and the SEC regarding the potential conversion of Grayscale’s Ethereum Trust into an ETF. While such meetings might usually indicate a positive trajectory, the absence of subsequent SEC commentary has tempered expectations. Balchunas and other analysts — including James Seyffart and Eleanor Terret — said that there is a distinct lack of activity in the regulatory circles despite the deadline being two months away. In contrast, there was a flurry of activity among the SEC and spot Bitcoin ETF issuers for more than 10 weeks before the applications were approved. Despite these lowered expectations, some industry observers like Variant Fund’s Chief Legal Officer, Jake Chervinsky, remain cautiously optimistic, suggesting that the upcoming weeks could provide clearer signals about the SEC’s direction. However, he also raised concerns that the SEC may treat Ethereum like a security and would be unwilling to approve the applications without judicial intervention. Let's see. #HotTrends #ETF
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Crypto Expert Reveals Why Bitcoin Could Hit $200,000 By April A crypto analyst has forecasted Bitcoin’s price to surge to unprecedented highs ahead of the 2024 Bitcoin halving event scheduled for April. The cryptocurrency has already been experiencing significant gains, surpassing its previous all-time high to trade above $70,000. In a recent X post, crypto analyst, Gert van Lagen provided a compelling narrative supporting Bitcoin’s bullish trajectory leading up to the halving event in April 2024. Sharing a price chart illustrating Bitcoin’s recent bullish movements, Lagen revealed that the cryptocurrency surge to new all-time highs. As a result of this massive rallying trend, the analyst confidently expressed his belief that a move to $200,000 before the halving cycle in April is becoming more plausible. Traditionally, the Bitcoin halving marks an event where the rewards for mining new blocks are cut by half, leading to a subsequent reduction in the cryptocurrency’s supply and contributing to a sustainable increase in its value. The highly regarded four-year event is usually accompanied by a significant bull run for Bitcoin and other cryptocurrencies within the market. Contrary to historical patterns indicating that the Bitcoin bull run typically aligns with the halving event, the cryptocurrency has been experiencing unprecedented gains in anticipation of the halving, leading analysts to consider the possibility of an even larger price jump during the event. The cryptocurrency’s achievement of a new all-time high before the halving stands as an extraordinary occurrence, underscoring the immense demand and growing popularity of Bitcoin in the crypto space. Including Lagen, other analysts have predicted bullish outcomes for Bitcoin ahead of the halving event. According to crypto analyst, “The Bitcoin Therapist,” on X, Bitcoin is expected to rise to $100,000 by April. Additionally, a steady rise to new all-time highs at $75,000 is expected to occur before the halving, as stated by another crypto analyst. #HotTrends #BTC
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What is the Bitcoin Halving? Every four years, on the halving day, the amount of new Bitcoins created gets cut in half. This means that when Bitcoin halves, the reward given to the contributors securing the network is reduced by 50%, directly impacting the rate at which new Bitcoins are introduced into circulation. This is what we're referring to as the halving day. At the beginning of 2020, 12.5 new Bitcoins were added to the network every 10 minutes via virtual "mining." In May, that amount was halved to 6.25. In ~April 2024, it will drop again to around 3.125 — and the process will continue until all 21 million coins have been mined (which estimates say should happen around the year 2140). This process, coded into the Bitcoin protocol by Satoshi Nakamoto, the creator of Bitcoin, is a way to limit the total supply of Bitcoin, increasing its scarcity. What happens when Bitcoin Halves? When Bitcoin undergoes a halving, the number of new Bitcoins that are made gets cut in half. Said differently, there's a 50% reduction in the reward miners receive for validating transactions and adding them to the blockchain. This event is coded into the Bitcoin protocol and occurs approximately every four years or after 210,000 blocks. Why is the Bitcoin Halving important? When Bitcoin halves, the reward given to the contributors securing the network is reduced by 50%, directly impacting the rate at which new Bitcoins are introduced into circulation. And because there are only 21 million bitcoins and the halving makes fewer of them, the halving contributes to making bitcoins more scarce. This inherent scarcity, combined with the historic increase in demand after the previous halving events, fosters a sense of digital rarity that could lead to potential upward pressure on prices. #HotTrends #Halving
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