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#Write2earn #Jito Surpasses $1.3 Billion Milestone: Exploring #Restaking Protocols on #Solana #RestakingSolana $JTO $SOL Jito, a liquid staking pool operating on the Solana blockchain, has recently achieved a significant milestone by surpassing a total value locked (TVL) of 10 million Solana (SOL). At Solana's current price of $132.11, this amounts to a remarkable $1.32 billion. This achievement not only solidifies Jito's presence within the Solana ecosystem but also reflects a growing interest in the platform. Jito's foray into Restaking Protocols While Jito had previously reached a higher TVL in fiat, approximately $1.86 billion, on April 1, it's important to note that these figures are subject to the volatile nature of cryptocurrency values. If Solana were to revisit its peak price of $208 earlier this year, Jito's TVL could potentially surge to around $2.08 billion, setting a new record for the platform. Amidst this financial growth, there's speculation within the crypto community that Jito is exploring a new avenue—restaking protocols. Sources close to the project suggest that Jito is actively working towards enhancing Solana's capabilities by integrating restaking services. However, these reports have not been officially confirmed by Jito's team. Restaking has emerged as a significant trend in the decentralized finance (DeFi) space. According to CoinGecko data, the "Restaking" category boasts a cumulative market capitalization of $8.64 billion as of the latest update. EigenLayer, a project that popularized this trend, currently holds a TVL of $14.65 billion as of May 2, based on DefiLlama data. Given the potential of restaking, it's plausible that Solana's developers are considering introducing this feature to their network. Picasso is currently the existing restaking protocol in Solana, allowing the staking of SOL and various receipt tokens from SOL staking platforms.

#Write2earn #Jito Surpasses $1.3 Billion Milestone: Exploring #Restaking Protocols on #Solana #RestakingSolana

$JTO $SOL

Jito, a liquid staking pool operating on the Solana blockchain, has recently achieved a significant milestone by surpassing a total value locked (TVL) of 10 million Solana (SOL). At Solana's current price of $132.11, this amounts to a remarkable $1.32 billion.

This achievement not only solidifies Jito's presence within the Solana ecosystem but also reflects a growing interest in the platform.

Jito's foray into Restaking Protocols

While Jito had previously reached a higher TVL in fiat, approximately $1.86 billion, on April 1, it's important to note that these figures are subject to the volatile nature of cryptocurrency values.

If Solana were to revisit its peak price of $208 earlier this year, Jito's TVL could potentially surge to around $2.08 billion, setting a new record for the platform.

Amidst this financial growth, there's speculation within the crypto community that Jito is exploring a new avenue—restaking protocols. Sources close to the project suggest that Jito is actively working towards enhancing Solana's capabilities by integrating restaking services. However, these reports have not been officially confirmed by Jito's team.

Restaking has emerged as a significant trend in the decentralized finance (DeFi) space. According to CoinGecko data, the "Restaking" category boasts a cumulative market capitalization of $8.64 billion as of the latest update.

EigenLayer, a project that popularized this trend, currently holds a TVL of $14.65 billion as of May 2, based on DefiLlama data.

Given the potential of restaking, it's plausible that Solana's developers are considering introducing this feature to their network. Picasso is currently the existing restaking protocol in Solana, allowing the staking of SOL and various receipt tokens from SOL staking platforms.

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#Write2earn #Bitcoin Eyes $67,000 Resistance Amidst Bullish Reversal #BitcoinPriceAnalysis #BullishMay #BTC🔥🔥🔥🔥🔥 $BTC Bitcoin has recently broken its downtrend and is eyeing the challenge of surpassing resistance at $64,000. If this current upward momentum persists and the breakthrough occurs, the next target for Bitcoin could be $67,000. The risk of Bitcoin losing its bullish trend line seems to have diminished, at least for the time being. The possibility of a continuation of the rally from the recent low of $56,600 remains viable. However, the medium-term outlook remains uncertain, with the potential outcomes ranging from a return to previous highs, a prolonged period of sideways movement, or merely a temporary bounce before revisiting lower levels. At the $63,000 level, Bitcoin has found new support, especially evident on the shorter 4-hourly time frame. A successful retest of the downward trend line indicates a favorable outlook for further upward movement, with $67,000 presenting a significant target for this upward push. Yet, breaking through the $66,000 resistance may prove challenging. On the weekly time frame, Bitcoin appears to be holding firm at the $63,000 support level, reinforced by a substantial wick down to $56,800. Moreover, the resistance around $66,000 aligns with the weekly candle close during the peak of the 2021 bull market, suggesting formidable resistance. However, concerns arise when examining the 2-monthly chart, which paints a less optimistic picture for Bitcoin's future. The previous 2-month candle closed below the $61,000 resistance, accompanied by a towering wick above it, indicating significant selling pressure that pushed the price below resistance. Despite these bearish signals, the ongoing short-term rally on the weekly time frame persists. It remains to be seen how far Bitcoin's price can climb before the impact of the concerning candle pattern fully manifests in the current bull market.
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#Write2earn #Jupiter #DEX Integrates Clone Protocol: Simplifying Non-Native Asset Trading on Solana #Solanaecosystem #solana $JUP Using the Clone Protocol, traders now have the ability to exchange non-native assets on Solana without resorting to bridges. Jupiter, Solana's leading decentralized exchange (DEX) aggregator by 24-hour trading volume, announced today its integration of the Clone Protocol, facilitating the trading of non-native Solana tokens. Now, users can easily trade assets like Dogecoin, Arbitrum, Optimism, SUI, or BNB without the need for bridging, with additional assets slated for inclusion in the near future. A post by the Clone Protocol suggests that soon, the entirety of the crypto market will be accessible on Solana. This integration eliminates the necessity for bridging services, as users can directly utilize the Clone Protocol, which employs clAssets as wrapped versions of tokens from other chains, designed to mirror the price movements of their original counterparts. Following today's integration, Jupiter's native JUP token experienced a 5% surge to $1.12, with a market capitalization just over $1.5 billion. Despite this increase, it remains 44% below its peak of $2 on January 31st. The integration aims to bolster the Jupiter exchange's reach, already demonstrating significant success within the Solana network. According to DefiLlama, Jupiter leads DEX aggregators with a 24-hour trading volume of $800 million, followed by DODO with $152 million and 1inch with $139 million. Jupiter's website highlights substantial trading volumes, with over $174 billion traded to date. While impressive, this activity has seen a decline since its peak in February, with April recording only $5 billion in trades compared to February's $47 billion and March's $35 billion. Although Clone Protocol currently exhibits modest metrics according to DefiLlama, with a total value locked (TVL) of approximately $670,000, its integration into the Jupiter ecosystem is poised to drive significant growth.
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#Write2earn #Polkadot #DOT PRICE ANALYSIS: HOLDING STRONG ABOVE $7 AMIDST MARKET FLUCTUATIONS #Altcoins #Dot........ $DOT Polkadot (DOT) has experienced a slight 4% dip in its price within the last 24 hours. Nevertheless, despite this decline, DOT has managed to maintain its position above the critical $7 mark. Over the past week, despite the recent downturn, DOT has surged by nearly 9%, prompting analysts to forecast a significant price surge in the near term. Polkadot (DOT) Holds Firm at $7 DOT has witnessed significant activity since April 30th, when its price plummeted to $6.06 during a highly volatile trading session. However, DOT bounced back, reclaiming its support level at $6.40 and closing the session at $6.42. Subsequently, DOT made a robust recovery, climbing by 7.48% to reach $6.90. Despite its efforts, DOT struggled to breach the $7 mark due to the 20-day SMA acting as formidable resistance. Yet, on Thursday, DOT successfully surpassed both the 20-day SMA and the 200-day SMA, reaching $7.29 as buyers drove the price higher. In the following sessions, DOT experienced slight declines of 0.55% and 1.66%, slipping back below the 200-day SMA. Nonetheless, it managed to hold above $7, settling at $7.13. Sunday saw a resurgence in buyer activity, pushing DOT up by 2.52% to $7.31. Despite this positive movement, the start of the current week saw DOT back in the red, dropping to $7.13 and falling below the 200-day SMA. However, with the 20-day SMA providing strong support at $7, DOT has regained momentum during the current session and is presently trading at $7.17. What Lies Ahead for Polkadot (DOT)? Looking ahead, the 20-day SMA serves as robust support at $7, attracting buyers to the market. In the immediate term, DOT faces resistance at $7.24, attributed to the 200-day SMA. Any substantial upward movement would necessitate breaking through this resistance level first. If DOT manages to surpass the 200-day SMA, it could test resistance at $8.
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#Write2earn #BITCOIN OPTIONS MARKET REFLECTS BULLISH SENTIMENT: ANALYSTS EYE $100K TARGET #BitcoinOptions #BitcoinPrice #BTC🔥🔥🔥🔥🔥 $BTC The surge in active bitcoin call contracts outweighs puts, signaling a bullish market sentiment. Options traders are eyeing a potential rise to $100,000 this year, especially after Federal Reserve Chairman Jerome Powell's comments last Wednesday, which spurred a 12% jump in BTC to $63,470. This optimism is reflected in increased demand for call options targeting new highs, potentially surpassing $75,000 and reaching $100,000. QCP Capital notes bullish momentum in volatility and rates post-Friday rebound, with positive BTC risk reversals and rising demand for September expiry $75,000 and $100,000 calls. Paradigm, an OTC trading network, observes a similar trend, highlighting increased interest in out-of-the-money calls. Deribit data shows substantial commitments to $100,000 strike call options, with over $688 million in total notional open interest, the highest among all listed options. With more than 150,000 active call option contracts worth $9.5 billion, bullish sentiment prevails, supported by both fundamental and technical analysis. Analysts foresee further upside potential for Bitcoin, especially amid factors like the U.S. election cycle and ongoing deficit spending. Swissblock Insights anticipates a defensive stance for the dollar index, favoring risk assets like cryptocurrencies. Elliot wave analysis suggests a potential rise to $92,000, reinforcing the bullish outlook.
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#Write2earn #Bitcoin Price Resurgence: Navigating Market Sentiments and Technical Trends #BTC🔥🔥🔥🔥🔥 $BTC #BitcoinPrice As we entered the latter part of last week, there was significant buying activity driving up the price of $BTC, defying expectations of a larger correction for the leading cryptocurrency. Starting from a low of $56,600 last Wednesday, Bitcoin's bull market has reignited, with the price now exceeding $64,000. Emotions have been on a rollercoaster ride for investors and traders, transitioning from despair when Bitcoin dipped to $56,600, to euphoria as it climbs above $65,000. This wide range of sentiments reflects the volatility inherent in trading the premier cryptocurrency. Even renowned trader Peter Brandt expressed uncertainty on April 30, suggesting concerns about Bitcoin's failure to surpass previous highs despite factors like halving and ETFs. However, in more recent posts, Brandt seems to have shifted his stance, emphasizing Bitcoin's role as a long-term hold compared to other cryptocurrencies. Examining the daily chart, it's evident that Bitcoin narrowly held onto the $59,000 support level, with a daily candle barely avoiding a close below it. Friday saw a sharp upward movement, pushing the price above the support level towards relative safety. The resistance at $64,000 may now serve as support, with Bitcoin's price potentially confirming this shift. Additionally, the downward trend has been broken, raising the possibility of Bitcoin forming a bullish W pattern. Taking a broader perspective on the weekly timeframe, Bitcoin's rebound from what appears to be the bottom of its correction is remarkable. A massive buying wick, dwarfing previous corrections, propelled the price up by over $8,000 in just five days. Furthermore, the stochastic RSI on the weekly timeframe is poised to cross up from the bottom in the coming days, signaling significant upward momentum. This suggests a potential resurgence of the Bitcoin bull market.
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