Altcoins

Block’s Bitcoin Mining Access Initiative: A Potential Boost for Top Altcoins

Published

3 months ago

8 May, 2024

Block's Bitcoin Mining Access Initiative: A Potential Boost for Top Altcoins

The bulk payment company, led by Jack Dorsey, plans to expand Bitcoin mining efforts. The platform aims to contribute to this goal by developing a comprehensive mining system to increase accessibility. Block is particularly interested in solving challenges such as expensive rigs and unpredictable deliveries by offering easy-to-use mining chips and systems.

Additionally, the plan extends to decentralizing mining hardware and improving user experience, thus also supporting renewable energy mining projects. This strategic move is poised to improve the stability and security of the Bitcoin network – a big step forward in attracting more investors to Bitcoin through stronger infrastructure and increased confidence in the market.

As traders and institutional investors eagerly await this important trend in the crypto market, there are opportunities for savvy investors to capitalize on top altcoins like KangaMoon (KANG), Bitcoin (BTC), Chainlink (LINK) , Floki (FLOKI) and Gala (GALA). These altcoins not only represent promising investment options, but are also pioneers in the evolving cryptocurrency landscape.

The Best Altcoins to Buy This Year to Prepare for Bitcoin’s Bullish Influence

The increase in Bitcoin mining ambitions is indeed a huge step to attract substantial growth of Bitcoin itself and altcoins in the market. Either way, these are the top crypto picks that will prove indomitable in the face of this year’s volatility, but will instead capitalize on Bitcoin’s potential growth.

KangaMoon (KANG)

Creating a distinguished reputation in the meme coin market, KangaMoon (KANG) has gained popularity. During the fifth presale stage, the project sold more than 70% of the presale tokens and raised almost $6 million throughout the presale campaign, while aiming to reach the funding milestone of 7 million dollars before the end of the campaign.

This impressive performance is also evident in the native price of the KANG token, which increased by 290% from an initial $0.005 to $0.0196 at the current stage. Interestingly, there are speculations that it will reach $0.5 before the third quarter of this year. At the same time, this prediction is largely based on the planned listing of the KANG token on leading exchanges in the crypto market this year.

At a fundamental level, KangaMoon is focused on the play-to-earn industry, which is expected to reach over $15 billion by 2030. KangaMoon also plans to launch an immersive ecosystem dubbed “Kangaverse” in which users will use KANG tokens as support. The game’s main currency, making it easy to purchase, upgrade, and participate in battle contests.

The KangaMoon token already stands out for its community-focused strategy since it offers free tokens to active members who comment and share its posts on social networks. Finally, its recent collaboration with RaidSharkBot, a community engagement platform, is poised to attract even more members while immersing them in a more enjoyable experience within the KangaMoon ecosystem, with cash prizes at earn.

Bitcoin (BTC)

The positive contribution to Bitcoin mining efforts by Block Payment will definitely increase mining activity, which in turn could affect Bitcoin network dynamics like hash rate and mining difficulty. Additionally, positive sentiments around Block’s decision could boost investor confidence in Bitcoin (BTC), which could potentially increase demand and positively impact market dynamics.

Bitcoin, being the pioneer and most well-known cryptocurrency, is often referred to as digital gold. Its growth potential lies in the continued adoption of the native BTC token as an inflation hedge, store of valuable assets, and increasing acceptance in traditional financial and investment portfolios.

Therefore, such developments, like the one mentioned earlier, can contribute to the ecosystem surrounding Bitcoin, shaping market sentiments and influencing its long-term trajectory. Although the price of the token saw a significant decline to around $61,000 after reaching its ATH above $71,000, the market is still highly anticipating a new valuation of BTC this year.

Chain link (LINK)

Chainlink is a decentralized oracle network that connects smart contracts to real-world data. The platform notably allows smart contracts to interact securely with external data sources. As Chainlink Price holds a nearly 80% gain over the past year, it maintains a bullish outlook and could end up allowing the token to recover from its monthly and weekly loss. Getting above $20 this year was a significant achievement for Chainlink, so we can expect to see more gains this year given the time remaining and given its stronghold among the top altcoins.

In a nutshell, Chainlink’s incredible growth potential this year stems from its crucial role in creating applications in the DeFi market, NFTs, and various other blockchain use cases. As this can potentially drive demand for its services and tokens, Chainlink also expects to become an ardent follower of Bitcoin’s influence.

Floki Inu (FLOKI)

Floki Inu (FLOKI) is a meme-inspired cryptocurrency that has gained popularity due to its community nature and marketing efforts. It has a strong social media presence and attracts traders interested in meme coins. In the last year alone, FLOKI coin was able to rise by over 1,500% and reach a maximum resistance price of $0.0030. Now that Floki Price is facing a notable decline, it still manages to reflect a 336% increase since the start of the year.

Either way, its potential for success will come from attention, support and adoption of its NFT and gameplay metaverse named “Valhalla”. Although volatility, market sentiment, and speculative trends in the coin market may influence Floki more, the token is still bound to generate huge profits as long as Bitcoin regains momentum.

Gala (GALA)

Gala (GALAG) is a blockchain platform focused on gaming and NFTs, offering tools for developers to create and monetize games and virtual assets. The current booming gaming industry and the growing adoption of blockchain and NFTs within gaming ecosystems is a factor that could propel Gala’s growth this year. THE Gala prize has already started trending this year, reaching a significant rise above $0.075 at one point.

Currently, the Gala token has begun a further decline, even below its weekly and monthly support, but its ecosystem and other partnerships with game developers could potentially drive demand for its token usage as the platform expands. form develops. Fortunately, Gala was able to accelerate this year after a long stagnation in prices. This means it has the potential to be among the best cryptos to buy this year.

What are the chances of KangaMoon taking over the Meme Coin market?

KangaMoon is indeed a sight to behold, especially in the coin space. The meme coin market only hosts a few tokens with use cases, let alone the availability of tokens with more incentives and utility like KangaMoon.

The metaverse-like P2E platform offered by KangaMoon, coupled with its various SocialFi features that have never been seen among meme coins, is more than enough to shake up and possibly topple the majority of meme coin giants like Digecoin and Shiba Inu, this year.

Discover the exciting opportunities of the KangaMoon (KANG) presale today!

Website: https://Kangamoon.com/

Join our Telegram community: https://t.me/Kangamoonofficial

Fuente

Altcoins

Best Altcoins for the Next Bull Cycle: Santiment’s Recommendations

Published

4 hours ago

27 July, 2024

TokenTalk Staff

Best Altcoins for the Next Bull Cycle: Santiment’s Recommendations

As Bitcoin (BTC) approached the $67,000 mark on Friday, the altcoin market, led by Ethereum (ETH)has shown strong bullish signals. Many altcoins are reaching the peak of a multi-week consolidation phase that began earlier this year. On-chain data also indicates that institutional investors have been actively buying crypto assets, preparing for the next phase of the bull market.

Additionally, several altcoins have recently retested the bullish breakout of the overall downtrend. With Bitcoin dominance set to decline, focusing on the altcoin market could be a smart move to maximize returns.

Expert advice: What should you pay attention to?

According to market intelligence platform Santiment, investors should keep an eye on the average trading returns of different assets.

After critically analyzing market data, Santiment believes that Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.

Meanwhile, Santiment pointed out that Toncoin (TONNE), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk to maximize profits in the planned alternative season.

Market Outlook: Volatility Ahead?

With the Federal Open Market Committee (FOMC) expected to deliver its policy statements next week, increased volatility in the cryptocurrency market is likely. Furthermore, historical data suggests that August could bring a bearish trend for the sector.

Despite this, the cryptocurrency market is expected to turn bullish again in the fourth quarter, driven by the US elections and anticipated interest rate cuts.

Invest smart. The future of cryptocurrencies is bright.

Fuente

Altcoins

Analyst Says Ethereum-Based Altcoin “Looks Strong As Hell,” Outlines Path Ahead For Bitcoin And Solana

Published

5 hours ago

27 July, 2024

TokenTalk Staff

Analyst Says Ethereum-Based Altcoin “Looks Strong As Hell,” Outlines Path Ahead For Bitcoin And Solana

A widely followed crypto analyst and trader believes a memecoin is headed for the next leg higher.

Pseudonymous crypto trader Altcoin Sherpa tell his 216,400 followers on the social media platform X that Pepe (PEPE) market fundamentals appear solid.

“PEPE: I never got a chance to add $0.00001111, but I’m still in it. He seems pretty strong. I’m still a big fan of memes in general.”

Source: Altcoin Sherpa/X

Pepe is trading at $0.00001128 at the time of writing, down 8% in the last 24 hours.

Then the analyst said Ethereum (ETH) rival of Solana (GROUND) has greater upside potential due to network activity.

“SOL: Go long on Solana. Why? Because SOL memes continue to take off and everyone is denominated in Solana. Being in the trenches of crap money really helps you understand this stuff better. I expect a pullback soon, but this would be the bottom to buy in my opinion.”

Source: Altcoin Sherpa/X

Looking at the analyst’s chart, he suggests that SOL could eventually reach $205.

Solana is trading at $166 at the time of writing, down 6.7% in the past 24 hours.

Finally, the analyst said that Bitcoin (Bitcoin) appears to be in an uptrend but could retest the $63,000 level.

“BTC: Price still looks pretty strong to me. If you really want a dip to get in, look for $63,000 around the 200 four-hour exponential moving average (EMA). For now, things should continue in my opinion.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $64,596, down nearly 2% in the past 24 hours.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated image: DALLE3

Fuente

Altcoins

XRP, ADA, and Other Altcoins to Accumulate Ahead of Trump’s Nashville Speech

Published

6 hours ago

27 July, 2024

TokenTalk Staff

XRP, ADA, and Other Altcoins to Accumulate Ahead of Trump's Nashville Speech

Bitcoin has recovered most of its losses from the week as traders eagerly await former U.S. President Donald Trump’s appearance at the Bitcoin 2024 conference in Nashville, Tennessee. Interestingly, Bitcoin gained over 1% today as Trump appears to have changed his stance on digital currencies this election cycle.

Analysts Buzz About Altcoins said that this week, crypto whales have been quietly accumulating several altcoins, showing confidence in their short-term potential despite recent performance declines. Here are the top altcoins:

Arbitration:

Current price: $0.72

Whale activity:Despite its significant decline since the start of the year, Arbitrum has seen an 87% increase in net inflow from large holders over the past week. This suggests that whales believe in the token’s long-term potential. Arbitrum, a Layer 2 scaling solution for Ethereum, aims to improve transaction speeds and reduce costs on the Ethereum network. The recent accumulation of whales could indicate confidence in its technology and future adoption.

XRP:

Current price: $0.59

Whale activity:According to Santiment, the number of addresses holding between 100 million and 1 billion XRP tokens has increased since July 23. This shows that the supply has increased from 38% to 40%, which is a sign of growing confidence among large holders. XRP has benefited from recent legal victories and market sentiment, making it an attractive option for whales.

Cardan:

Current price: $0.41

Whale activity:Cardano saw a staggering 10,878% increase in large holder inflows in a single day, surpassing the 5 billion mark. This indicates a significant level of confidence among whales in ADA’s recovery potential. Cardano’s recent upgrades and continued development have been positively received by the market, contributing to its attractiveness.

Chain link

Current price: $13.55

Whale activity: Chainlink recently integrated its Cross-Chain Interoperability Protocol (CCIP) with TrueFi on the Ethereum and Arbitrum blockchain platforms. TrueFi, backed by Coinbase and Chainlink, provides transparent and real-time financial data, improving the decentralized finance (DeFi) ecosystem. This integration could drive increased adoption and usage of Chainlink, making it a popular choice among whales.

Fuente

Altcoins

Ethereum (ETH) ETF Fails to Spark Altcoin Season, Market Rebounds Above $1 Trillion

Published

7 hours ago

27 July, 2024

TokenTalk Staff

The rebound in altcoin market cap to $1 trillion slightly changes the positive dynamics for the much-anticipated altcoin season in Q3 2024.

Bulls took control of today’s session, pushing the total cryptocurrency market cap to $2.39 trillion, up 4% in 24 hours at press time. Total trading volume stands at $82.2 billion, up 4.4% in 24 hours, at the time of writing.

The Ethereum ETF was supposed to be the flagship of the altcoin season, but the response so far suggests nothing in its favor.

Altcoin market cap is moving in a flag pattern, a steady rise above $1.56T could trigger the altcoin rally and lead to the altcoin season with favorable market conditions.

Ethereum ETF Potential Stabilizes

The Ethereum ETF got off to a strong start with $1 billion in trading volume on its first day with massive inflows and outflows. This activity attracted a lot of money to Ethereum but failed to circulate among other altcoins.

With the launch of Ethereum, market sentiments were poised to trigger the altcoin season, but the cooling volume of the ETH ETF and the distributed interest in the BTC ETF could not muster enough power.

While the price of Ethereum (ETH) is yet to react, experts predict that the price will see a massive surge between $4,000 and $7,000. At the time of writing, ETH is trading at $3,271 with a 24-hour growth of 3.08%.

Altcoin Season Indicator Kills All Hopes.

The required demand for the altcoin season has not been met by the cryptocurrency markets and this can be seen in the Altseason Season Index indicator which is below the threshold of 25.

A push above 75 will mark the start of altcoin season.

Source Blockchain Center

Furthermore, analyzing the performance of the top 50 assets in 90 days shows that only 11 of them have outperformed BTC.

To kick off the official altcoin season, at least 75% of assets must outperform Bitcoin.

An increase in inflows and the return of investors in September and October could potentially trigger the altcoin season we have all been waiting for.

Fuente