Cardano (ADA) Skyrockets 27% in Key Metric to Become Market Outlier.

Cardano's ADA skyrocketed over 27% in its trading volume, a key metric for determining investors' sentiment. With this uptick, ADA now stands as an exception to other top cryptocurrencies currently experiencing declines in their prices.

ADA isolated from other top cryptos.

Per data from CoinMarketCap, ADA displayed a price increase of 1.4% in the past 24 hours, to trade at $0.3952. The market capitalization increased by a similar percentage to $14 billion, while the trading volume surged to $331 million.

ADA's substantial price increase is in stark contrast to other cryptocurrencies on the market. For instance, Bitcoin (BTC), the leading cryptocurrency, decreased by over 1% in the past day to trade at $60,868. Over the past week, BTC experienced a decrease of 5.2%. The trading volume, however, increased by a nominal 0.3%, a stark contrast from ADA's 27% increase.

Similarly, Ethereum (ETH), the second- largest cryptocurrency, is trading at $3,392, representing a 1.68% decrease in the past day, and a 2.8% decrease in the past week. The trading volume declined by 7% to $11 billion, with the market cap pegged at $407 billion.

Why ADA is standing out.

The recent uptick in ADA's price and key metrics can be attributed to Cardano's ecosystem expansion plans. Chief among them is the recent establishment of an interim Constitutional Committee, as announced by Cardano's founder, Charles Hoskinson, in a YouTube video.

With the establishment of the new committee, ADA holders now have a say in Cardano's governance, This announcement has sparked enthusiasm from the Cardano community, fueling increases in ADA's price.

Moreover, Cardano has recently gained traction among institutional investors, which may be contributing to the rise in trading volumes. Additionally, the Cardano ecosystem recently boosted its connectivity through an integration with the Inter-Blockchain Communication protocol.

92 Million XRP Withdrawn From Binance as Price Jumps – What's Happening?

According to recent tweets published by the popular blockchain sleuth Whale Alert, which follows large cryptocurrency transfers, over the last 24 hours, there have been four massive XRP transfers as almost 160 million XRP coins exchanged hands.

These enormous transactions happened while the price of the seventh largest cryptocurrency, XRP, staged a mild 3% surge overnight.

156 million XRP on move as whales activate.

The above-mentioned source of data detected four impressive crypto transactions that moved large XRP chunks. Two of them were withdrawals witnessed by the Binance exchange - 43,894,329 XRP evaluated at $20,860,666 and 48,270,270 XRP worth $23,055,620.

Both transfers were made to anonymous blockchain addresses. The first transaction happened roughly 22 hours ago, and the second one occurred almost five hours ago, according to Whale Alert. The Bithomp XRP explorer revealed that both XRP lumps were moved to crypto wallets linked to Binance.

Ripple giant shovels 64 million XRP.

Aside from that, the crypto tracker noticed 32,710,000 XRP getting moved to the largest Latin America-based exchange, Bitso, and 31,185,000 XRP moved to Bitstamp. These transactions carried the fiat equivalents of $15,466,399 and $14,742,502.

As for the other two XRP transfers, they were made from wallets linked to the Ripple cryptocurrency decacorn. Bitstamp and Bitso are among the crypto exchanges that collaborate with Ripple on its system of transnational payments that used to be known as On-Demand Liquidity in the past and not so long ago was rebranded as Ripple Payments.

Ripple building its stablecoin.

Currently, Ripple is working on its own U.S. dollar-backed stablecoin. There is currently a $150 billion stablecoin market out there, and the crypto decacorn certainly wants a piece of that pie. Within four years, it is expected to surge as high as $2.8-$3 trillion.

Long-Term Bitcoin (BTC) Holders Sell off $10 Billion in May.

Long-term Bitcoin (BTC) holders have sold off approximately $10 billion worth of BTC in May 2024, according to data from blockchain analytics firm Into TheBlock. This massive sell-off, which amounts to around 160,000 BTC, marks a notable trend in the behavior of long-term investors.

This sale of BTC shows a substantial shift in market dynamics. Historically, long-term holders are known for their tendency to retain their assets through market fluctuations, contributing to the overall stability of the BTC price. The decision by these holders to liquidate such a significant portion of their holdings indicates a change in sentiment.

However, June has seen a deceleration in
the sell-off, with long-term holders
offloading an additional 40,000 BTC.
Although this is significantly less than the volume sold in May, it still shows a
continued trend of liquidation among long-term investors.

Market impact and price movement.

The cumulative effect of these sales has contributed to the overall bearish sentiment on the market. It has had a pronounced impact on Bitcoin's price. Over the past 30 days, Bitcoin's price has slumped by 10.03%, reflecting the market's reaction to the increased selling pressure. As of now, Bitcoin is trading at $61,343, a noticeable decline from its previous levels.

Several factors could be influencing long- term holders to liquidate their BTC. Given Bitcoin's substantial appreciation over the past few years, long-term holders might be capitalizing on their gains. Many of these investors acquired BTC at significantly lower prices, and the current levels offer an attractive opportunity to realize profits.

Broader economic trends, such as interest rate changes, inflation concerns and geopolitical events, can also impact investor behavior. Long-term holders might be reallocating their portfolios in response to these macroeconomic shifts. However, the sustained sell-off by long-term holders raises questions about the future trajectory of the Bitcoin price.

600 Million Shiba Inu (SHIB) Mystery Stuns Major Exchange: What Happened?

Last week was rather negative for popular meme cryptocurrency Shiba Inu (SHIB). The price did not experience a significant drawdown, but it did not see any positive developments either. In addition, the SHIB price remains below the key resistance level of $0.0000183 per token.

It seems that there are no buyers for this popular meme cryptocurrency. However, at least one unknown major player in the Shib a Inu token was spotted this week.

As revealed by Arkham data, the address "0x9d9f" withdrew 593.26 million SHIB, equivalent to $10.32 million, from major Japanese exchange Coinone. These were the first and only transactions made by the owner of this address.

Could this wallet be connected to Coinone itself? It is an open question. There is no reliable evidence. In addition, some strange transactions took place on the wallet, such as swaps of meme cryptocurrencies, not SHIB, to Uniswap. Such activity is not typical for hot wallets of crypto exchanges with turnover in the tens of millions of dollars.

Discarding theories that this is an exchange wallet opens up a more interesting field of reasoning.

For example, is the withdrawal a consequence of more than $10 million worth of SHIB purchases by this whale? What are their expectations for the price of the popular meme cryptocurrency, and will this trigger a new wave of Shiba Inu token purchases?

#IntroToCopytrading

Solana (SOL) Skyrockets by 800%, Surpassing BTC, ETH in Yearly Gains.

In an astonishing display of growth, Solana (SOL) has surged by an incredible 800% over the past year, outpacing major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). According to CoinGecko data, Solana is currently up 803% since the last year.

Ethereum has surpassed Bitcoin within this time frame as final approvals for funds focusing on the token are near. Notably, ETH has increased by 51% since the start of the year, outpacing Bitcoin's 45% increase.

Bitcoin's performance is beginning to be overshadowed by Ethereum and Solana tokens, as interest in U.S. cryptocurrency exchange-traded funds swings to the two crypto assets. Bitcoin stole the spotlight with an impressive rise at the start of 2024 after the first U.S. spot ETFs for the largest digital asset went live in January.

The ETF-driven optimism spurred Bitcoin to a record of $73,798 in March, but demand and price have since cooled.

Solana climbs on ETF optimism.

Solana recently saw its greatest gain in almost a month when VanEck, an exchange-traded fund provider, filed for a cryptocurrency-based product.

Following the submission of documentation to the Securities and Exchange Commission (SEC), the SOL token soared by up to 11%, the most since late May.

VanEck, one of the first to launch spot Bitcoin exchange-traded funds (ETFs) in the United States, filed for a new Solana ETF on Thursday. The new fund, called the VanEck Solana Trust, will be the first Solana ETF to be filed in the United States.

VanEck's Solana ETF filing comes weeks after the SEC approved the debut of spot Ether (ETH) ETFs in the United States on May 23, 2024.

At the time of writing, SOL was up 4.92% in the last 24 hours to the last 24 hours to $145.69 and ranks as the fifth-biggest cryptocurrency by market cap, according to CoinGecko data.

#IntroToCopytrading

SHIB Price Prediction for June 27.

SHIB/USD.

The price of SHIB has increased by 0.52% since yesterday.

On the hourly chart, the rate of SHIB has made a false breakout of the local resistance of $0.00001764. If the daily bar closes far from it, there is a chance to see a correction to the $0.00001720 zone by tomorrow.

On the bigger time frame, the price has once again bounced back from the support level of $0.00001696. It is too early to think about an upward move; however, if the candle closes far from the bottom line, one can expect sideways trading in the range of $0.00001750-$0.000018.

From the midterm point of view, one should pay attention to the weekly bar's closure in terms of the $0.00001696 level.

If it happens far from it, buyers might face a bounce back to the $0.000019 zone.

SHIB is trading at $0.00001737 at press time.

DOGE Price Prediction for June 27.

DOGE/USD.

The price of DOGE has fallen by 0.52% over the last 24 hours.

Despite today's fall, the rate of DOGE is looking bullish on the hourly chart. One should pay attention to the nearest resistance level of $0.1238. If the daily bar closes above it, the upward move may continue to the $0.1270 area.

On the bigger time frame, the price is far from the main levels. However, if the rise continues to $0.1292, the accumulated energy might be enough for a breakout, followed by a move to the $0.1320 zone.

A less positive picture can be seen on the weekly chart. The volume has declined, which means none of the sides is ready for a sharp move.

In regard, consolidation in the zone of $0.12-$0.1350 is the more likely scenario until the end of the month.

DOGE is trading at $0.1249 at press time.

Bitcoin Boom: Over 1 Million Addresses Now Own 1 BTC.

In a significant milestone on the cryptocurrency market, the number of Bitc oin addresses holding more than one BTC has surpassed one million.

According to a recent report by Into TheBlo ck, there are currently 1,010,777 such addresses, marking a notable achievement in the Bitcoin ecosystem.

Into TheBlock, a blockchain analytics platform, highlighted this milestone in a chart that illustrates the growing trend of individuals and entities accumulating Bitcoin to reach wholecoiner status. The term "wholecoiner" refers to those who hold at least one whole Bitcoin, a status increasingly sought after by investors.

The data shows a clear long-term trend: more and more people are striving to become wholecoiners.

This trend reflects the broader adoption and confidence in Bitcoin as a store of value and an investment asset. The increasing number of wholecoiners is a testament to the growing belief in Bitcoin's potential for long-term growth and stability.

Into TheBlock's analysis indicates that this upward trend is not a short-term phenomenon but a sustained movement. Over the years, as Bitcoin has matured, the number of addresses holding at least one BTC has steadily increased.

What this implies.

The achievement of over one million wholecoiners is particularly significant in the context of Bitcoin's limited supply. With only 21 million Bitcoins ever to be mined, holding even one Bitcoin becomes increasingly valuable as demand continues to rise. This scarcity factor further underscores the importance of the wholecoiner milestone.

Bitcoin has fallen roughly 17% since reaching an all-time high of nearly $74,000 in mid-March on rising optimism about the approval of U.S. exchange-traded funds to directly hold the original cryptocurrency.
At the time of writing, Bitcoin had risen
0.04% in the previous 24 hours to $61,592.
Adding to the melancholy on the markets is
shifting expectations of U.S. interest rate
cuts, which has reduced demand for the most risky assets.

Major Investment Firm Moves $65.59 Million in Ethereum (ETH).

Paradigm Capital has moved a substantial amount of Ethereum (ETH) to the institutional-grade custody platform Anchorage Digital, per data from Arkham. At precisely 8:53 a.m. UTC+8 today, Paradigm Capital, identified by the address 0×11...c3cD, deposited 19,504 ETH, valued at approximately $65.59 million, into Anchorage Digital.

This transaction marks a notable occurrence in Paradigm's recent activity. Over the past three months, the firm has established a pattern of depositing Ethereum into Anchorage during the latter half of each month. However, today's deposit is exceptional for two reasons: it is the second deposit this month and the largest single deposit Paradigm has made in the past three months.

The movement of such a large volume of ETH by Paradigm Capital shows the firm's strategic approach to asset management and security. Anchorage Digital, known for its robust security measures and institutional-grade custody services, has become a preferred platform for major financial players seeking to safeguard their digital assets.

This significant deposit may also highlight Paradigm's growing confidence in the stability and potential of Ethereum as a valuable asset. It also reveals that the broader trend of institutional investors is gravitating toward reliable custody solutions to manage and protect their holdings.

Ethereum sees rising institutional confidence.

The recent deposit by Paradigm Capital aligns with a growing trend of institutional interest in Ethereum. As the second-largest cryptocurrency by market capitalization, ETH has attracted considerable attention from traders due to its diverse use cases, including DeFi, smart contracts and more.

Institutions like Paradigm Capital play a key role in legitimizing and stabilizing the market. Their involvement not only brings substantial capital into the ecosystem but also enhances market confidence.

Shiba Inu (SHIB) Price May Skyrocket in July If This Comes True.

One of the most popular meme cryptocurrencies, Shiba Inu (SHIB), has come to the end of the first month of summer with its worst result since May 2022. At the end of June, the price of SHIB fell by more than 33%, reaching a value of $0.000017.

However, this month is coming to an end and we need to move forward, so it is time to look at the price history to see what July might have in store for Shiba Inu.

There is indeed reason for optimism in the SHIB community in July, as the median profitability of the Shiba Inu token in the second month of summer is 11.8%, according to data from CryptoRank.

In fact, the last few Julys were green for SHIB, as the price added just 11.8% in 2023 and 13.4% in 2022. Yes, 2021 - the year the meme cryptocurrency emerged - was pretty painful, with the price falling nearly 30%, but that came after nearly five times the growth in the previous three months, so the correction was not the worst.

By comparison, June has never been positive for Shiba Inu and, as you can see, history has repeated itself in 2024.

Does this mean that SHIB is guaranteed to rise next month? No. Is price history a good benchmark? Yes.

Of course, the only thing that is certain on the cryptocurrency market is that nothing is certain. However, as you can see, historical trends for the SHIB price can still offer a certain angle on what to expect, and one should not ignore them.

Cardano (ADA) Faces Further Decline, $0.3389 Support Under Threat.

Cardano (ADA) is currently experiencing a downward trend, with its price approaching the crucial support level of $0.3389. The cryptocurrency market has been under significant bearish pressure, and ADA is no exception.

This decline is fueled by a mix of macroeconomic factors, market sentiment, and technical indicators pointing to continued weakness. As Cardano nears this critical support level, investors and traders are closely monitoring its performance to determine if it can hold the line or if further declines are imminent. The $0.3389 level is now a key focus for the market, potentially shaping ADA's short-term future.

With the help of technical indicators, this analysis focuses on analyzing Cardano's current price action and its impact on the asset's future focusing on the 4-hour and the 1-day timeframe.

Presently, the market capitalization of Cardano is over $13 billion, with a trading volume of over $252 million. The cryptocurrency price is currently down by 2.94%, trading at roughly $0.3786. Despite a 2.91% decrease in market capitalization, there has been a 10.38% increase in trading volume in the past day.

Review Of Recent Market Performance Of Cardano.

Currently, the price of ÀDA is actively bearish trading below the 100-day Simple Moving Average (SMA) in the 4- hour timeframe. Due to this Cardano is beginning to decline towards the $0.3389 support after a failed upward attempt. With this current price action, it can be suggested that ADA's bearish trend may likely extend.

Also, the Relative Strength Index (RSI) confirms that the price of ADA may extend its decline toward the $0.3389 support zone as the signal line of the indicator has dropped below 50% and is heading towards the oversold zone.

Meanwhile, on the 1-day chart, ADA's price is trading below the 100-day SMA dropping towards the $0.3389 support level with strong bearish momentum after short-term upward recovering.

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Cardano Meme Coin Crashes 96% in Hour After ADA Creator Says This.

The price of a new meme coin on Cardano, RIO, collapsed over 96% in one hour today. As always on the crypto market, such painful price performance has a dramatic justification, and this time it was a comment from blockchain founder Charles Hoskinson on social media.

But let's start at the beginning.

Memes take over Cardano.

In recent weeks, Cardano has formed a
new narrative, with a meme cryptocurrency on hand with the
emergence of Nike. This meme coin, based on the image and named after the pig belonging to Cardano founder Charles Hos
kinson, quickly gained popularity, multi-
million dollar capitalization and, as it happens, created a whole wave of similar
cryptocurrencies.

Interestingly, most of these projects are based on the images of pets of Hoskinson, who with his posts has given Nike a lot of attention. This is how the RIO token was born, using the image of a parrot that the Cardano founder posted in 2021.

"Daisy is her name"

A Cardano enthusiast asked Hoskinson what he thought of the coin, to which he replied that the parrot's real name was Daisy. Due to the irrelevance of the name Rio, this meme cryptocurrency was subjected to a sell-off and, as a result, its price collapsed by more than 96%.

Now, the price of the token has recovered some of that decline, but whether it will be able to return to previous levels in public perception remains a big question.

Notcoin (NOT) Skyrockets 66% in Volume: Here's Why.

Notcoin (NOT) is generating buzz on the market with notable gains today. As of writing this article, the token has surged 8.72% to $0.01571. Notably, this prominent price jump comes amid the ongoing consolidation on the broader crypto market.

In addition, the 24-hour trading volume of Notcoin has skyrocketed 66.21% to $559.3 million. This rising trading activity indicates the bullish investor sentiment regarding the coin. But the most important thing is that the NOT price has been performing well in the past few weeks.

In fact, the coin has surged 212.19% over the last 30 days. This huge price jump shows how Notcoin has outperformed other major cryptocurrencies on the market during this period. Remarkably, today's surge suggests that NOT is not slowing down, and it may sustain its upward momentum.

Major development for Notcoin.

Notcoin, a play-to-earn token on TON (The Open Network), has also witnessed major developments in the recent past. Today's Notcoin price surge comes on the heels of an important update from the team behind the coin.

On June 25, the Notcoin team announced a massive burn event for the coin, as $3 million worth of NOT were sent to dead wallets. This burn event was a strategic development as the team is aiming to optimize the tokenomics of NOT along with the overall ecosystem.

In the same announcement, the Notcoin team revealed that it is initiating an incentive program for its users. It was conveyed that about $4.2 million will be given as an incentive to Notcoin Explore's Gold and Platinum users.

In light of these events, traders appear to be very optimistic about NOT's prospects.
The latest surge in price, along with trading
volume, shows that the community is
supporting the coin. It is likely that the NOT
price will benefit from it and sustain its
rally.

Dogecoin (DOGE) Can Skyrocket 10x to $1 If This Happens.

Dogecoin's performance throughout 2024 was not the most exciting thing to watch. The original meme coin has been gradually losing value, without showing any signs of an upcoming volatility surge. However, things may still turn out positively for DOGΕ.

Generally speaking, those who claim that DOGE is uninteresting are correct. It has been trending downward or sideways for about nine and a half years. There was a run that pumped over 30,000% and another that pumped roughly 6,000% from the lows in other years.

Since the previous all-time high, there has been sideways movement that is comparable to past patterns. Generally Dogecoin takes eight to nine months to start a significant pump following a Bitcoin halving. Given that the most recent Bitcoin halving was only two months ago, a significant breakthrough for DOGE might not happen until December or early February.

The bullish trend that is currently in place may break lower, and prices may retrace to the 8-10 cent range. A few months before Dogecoin gained popularity and experienced notable gains in August 2020, there was a trend break of this kind, with a roughly 30% decline and retracement.

Dogecoin has been trailing wider meme coin market movements for quite some time, but it is important to take past cycles into account. Dogecoin appears to be preparing for a significant breakthrough based on its historical trend. There is still a good chance that DOGE will reach $1 or $2, even though there is not much excitement right now.

Keeping an eye on the broader market and meme coin sector is the key here. Dogecoin has been consistently running upward when memes become popular again. If we are lucky enough, we will see the continuation of the same trend.

Crucial Bullish Bitcoin Statement Issued by Trader Willy Woo.

Savvy cryptocurrency trader and entrepreneur Willy Woo has taken to the X social media platform (widely famous as Twitter in the not-so-distant past) to talk Bitcoin and reveal the rough date when he expects BTC to soar 10x from now.

Willy Woo makes bullish Bitcoin statement.

Woo started his tweet, saying that the
financial world has finally started to believe that Bitcoin is a "fast emerging asset
class." As this awareness has dawned on
Wall Street now, Woo reminded the
cryptocurrency community that asset
classes are usually evaluated at tens of
trillions of U.S. dollars.

This means, Woo continues, that if BTC is believed to be that now, its price should skyrocket 10x from the current level. According to the same concept, Bitcoin is likely to rival the U.S. dollar in size and become a reserve asset.

As to the question when this is likely to happen to Bitcoin, Willy Woo tweeted: “I'd say when we into the range of 25-40% world adoption." That is, he added, in the 2030s.

"Bitcoin hits 'Banana Zone'": Robert Kiyosaki.

In a recent tweet, financial expert and Bitcoiner Robert Kiyosaki stated that the world's leading digital currency, Bitcoin, is entering "the Banana Zone" now. Here, he quoted former Goldman Sachs executive and investor Raoul Pal.

Kiyosaki explained that entering "the Banana Zone" means "to go ballistic" or create a "sine curve," and people start regretting that they did not accumulate Bitcoin when the price was lower or regret not buying more of it. Kiyosaki admitted that several years ago, it was Raoul Pal that persuaded him to start investing in BTC, and he bought 30 BTC when the crypto was trading roughly at $6,000.

3 Underdog Altcoins Turning $100 Into $100,000 By December.

Discover three underdog altcoins with the potential to turn $100 into $100,000 by December. Learn about these high- reward investment opportunities and fatten your wallet.

1. Underdog Altcoins - Maga Hat (MAGA).

Maga Hat is a politifi token inspired by Donald Trump's hat. The token came out in March and has been performing rather well, often influenced by Trump's activities.

The current market cap of MAGA price sits at $150 million, giving it ample room to move higher. In the craziness of the last bull run, Shiba Inu rose from peanuts to hit over $40 billion market cap, and in this bull run, the numbers may come in much higher.

MAGA price hovered around $0.000371 at press time, representing a 28% increase in the last 24 hours.

2. Notcoin (NOT).

Notcoin is a pioneer in its niche and due to that, has the potential to hit unprecedented high prices. The project was launched in March as a part of the TON blockchain, kickstarting the season of Tap-2-Earn games.
Leveraging the massive Telegram userbase, Notcoin quickly amassed over 35 million active users on their mini-app and subsequently became one of the most successful launches in 2024.

Notcoin has a total market cap of $1.6 billion, providing room for a 1000X run which would place it at a $1 trillion market cap.

NOT price traded at $0.0163 at press time, a 15% increase in the past 24 hours.

3. Underdog Altcoins – Turbo (TURBO)

Turbo is one of the most unique
altcoins in the crypto industry that was
built by ChatGPT. The creator used
prompts on the OpenAI chatbot and
followed the responses. The initial plan was to create a token and launch it
without spending more than $69.
Initially, it worked, but sniper bots
immediately drained the tiny liquidity
once the smart contract launched. The
community came together, contributing to the liquidity pool, and hence, Turbo was born.

Turbo's current market cap is $355 million with all tokens in circulation.

5 Reasons Why Ethereum (ETH) Is Much Stronger Than Bitcoin (BTC) Right Now.

Ethereum's price performance certainly
raises some serious questions, as the
second-biggest cryptocurrency on the
market is clearly losing momentum and is unlikely to gain enough traction for a
bounce right now. But fundamentally, it has
at least five reasons to recover sooner
than expected.

Mt. Gox does not have any ETH.

The imminent risk of a massive sell-off from Mt. Gox is one of the major factors weighing on Bitcoin. The trustee of the defunct exchange is scheduled to return a sizable portion of Bitcoin to creditors, which may intensify selling pressure. Due to this, Ethereum has a clear advantage over BTC, which might enter the market and lower its price.

German government not selling Ethereum.

Selling pressure on the market has been exacerbated by reports that the German government has been selling off the Bitcoin that has been seized. The recent difficulties of Bitcoin are partly attributable to this action.

On Ethereum, there is no miner sell pressure.

Since the release of Ethereum 2.0, the proof-of-stake (PoS) consensus mechanism has replaced the proof-of-work (PoW) method. That implies that miners for Ethereum will no longer have to sell a lot of ETH in order to pay for their overhead. Nevertheless, in order to cover their costs for things like electricity, Bitcoin miners must constantly sell their Bitcoin.

ETH will also get an ETF.

Ethereum, though not officially confirmed yet, is headed toward becoming its own exchange-traded fund, much like Bitcoin. Institutional investors could be exposed to Ethereum through an exchange-traded fund without having to physically hold the asset, which could raise demand.

Greater supply shock on ETH.

The introduction of a burning mechanism for transaction fees through EIP-1559 has resulted in a significant reduction in the supply of Ethereum. A supply shock could occur for the asset as a result of this mechanism, which lowers the total supply of ETH.

Ethereum for Taxes? Dogecoin Creator Says Yes.

Florida Republican Matt Gaetz introduced a bill on Tuesday to allow federal income taxes to be paid using Bitcoin (BTC). The proposed legislation requires the U.S. Secretary of the Treasury to establish a program facilitating tax payments in BTC. As of now, only Colorado permits the use of cryptocurrency for paying taxes.

The announcement did not pass by the crypto community unnoticed. Billy Markus, co-creator of Dogecoin and known as Shibetoshi Nakamoto, expressed his support for the idea, stating a preference for paying taxes with Ethereum (ETH) instead of converting it to cash. This viewpoint highlights a roiling demand to integrate digital currencies into standard financial transactions.

Gaetz's proposal arrives as cryptocurrencies gain wider acceptance. If enacted, this bill would represent a significant shift in tax payment methods, aligning with the interests of crypto enthusiasts who prefer to use digital assets directly.

Win-win?

Paying taxes with Bitcoin or Ethereum could help taxpayers avoid the complications and potential losses associated with converting crypto to fiat currency at volatile market rates. From another point of view, this option may offer a more straightforward method for handling tax obligations to the government with digital assets.

The progression of this bill will be closely watched by crypto enthusiasts on one side and policymakers on the other, marking a potential step toward broader acceptance and use of digital currencies in one of the biggest financial systems.

Get ready, the launch is approaching! Cryptocurrencies that will rise more than 1000%.

Manta Network is a blockchain project focused on privacy-preserving applications and functionalities within the web3 ecosystem. Here's a breakdown of what they offer:

Modular Blockchain for ZK Apps: Manta Network positions itself as a modular blockchain specifically designed for zero-knowledge (ZK) applications. ZK proofs are cryptographic techniques that allow verification of information without revealing the information itself. This is particularly useful for protecting user privacy in financial transactions and other blockchain interactions.

Manta Pacific: This is the current operational blockchain of Manta Network. It leverages Celestia, a separate blockchain for data storage, and a modified Optimistic Rollup (OP) stack for faster transaction processing. This combination aims to achieve scalability (handling many transactions) with low gas fees (transaction costs).

Focus on dApp development: Manta Network positions itself as a suitable environment for building and deploying decentralized applications (dApps) that utilize ZK technology. Their technology stack, including "Universal Circuits," is designed to streamline this process for developers.

Manta Network today, June 26th, 2024:

Price: The live price of Manta Network (MANTA) is around $1.01 USD.

Performance: It's been a bit of a mixed bag for Manta Network recently. Over the past 24 hours, the price is down slightly (around 0.10%). However, it's up over 28% compared to its all-time low just two days ago on June 24th.

Trading Volume: There's been a decrease in trading activity compared to yesterday. The 24-hour trading volume is around $24.7 million USD, which is down about 41% from the previous day.
Overall, Manta Network seems to be in a period of consolidation after a recent price dip. While trading activity is down, the price has recovered somewhat from its all-time low.