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

TokenTalk Staff

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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

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

TokenTalk Staff

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Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

Shiba Inu (SHIB) is currently eyeing a recovery surge as it slides into the oversold region, with one market analyst predicting an imminent rise to $0.0001.

The recent market bloodbath claimed many lives, and Shiba Inu was one of them. In particular, the Crypto Basic confirmed that the turmoil, which analyst Mike Deutscher attributed to “altcoin dispersion,” led to a loss of $137 billion in the combined market capitalization of the top 125 altcoins in two weeks.

Specifically, Shiba Inu lost $4.21 billion in valuation during this period, as its market cap fell to $10 billion. This is due to a fall from a high of $0.00002633 on June 5 to the current value of $0.00001820, representing a massive collapse of 31% in just two weeks.

Shiba Inu now extremely oversold

Although this decline has left many investors in a losing position, some technical indicators have slipped into bullish regions. For example, the Shiba Inu Relative Strength Index (RSI) has since fallen to an all-time low of 15, according to the market. data from CryptoQuant.

Shiba Inu RSI oversold CryptoQuantShiba Inu RSI oversold | CryptoQuant

This extremely low value indicates that SHIB is significantly oversold. This low RSI value suggests that selling pressure is very high and Shiba Inu may be undervalued. The current position of the RSI is generally interpreted as a potential buying opportunity, with market analysts expecting a price reversal or rebound soon.

With Shiba Inu Eyeing a recovery from recent lows, market participants are increasing their holdings in anticipation. Santiment data shows that small investors holding between 100,000 and 1 million tokens purchased 2 billion SHIB this month, while large whales holding at least 1 trillion SHIB accumulated nearly 500 billion tokens .

Shiba Inu addresses Santiment 4Shiba Inu addresses Santiment 4Shiba Inu Addresses | Feeling

An imminent recovery

Interestingly, market analyst Sam_TCR predicted this rally in a previous TradingView. analysis. The analysis was carried out when Shiba Inu had not fallen to this level, trading at $0.000022. With SHIB now below the $0.00002 level, the analyst’s projection of a resistance point at $0.00002320 remains valid.

According to him, if Shiba Inu manages to cross the $0.00002320 level, its next resistance will be at $0.00002550. He predicted that a push above the $0.00002550 roadblock would pave the way for an imminent rally towards the coveted $0.0001 price. Michael, another analyst, also waits a rally to the $0.0001 level.

Meanwhile, at its current price of $0.00001820, SHIB faces more formidable resistance on the way to $0.0001. The token must first break through the psychological $0.00002 level before using it as a launchpad for significant upside.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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Altcoins

Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

TokenTalk Staff

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Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

BitMEX Co-Founder Arthur Hayes Increases His Bullish Sentiment on Dogecoin (DOGE) and Pendle (PENDLE) despite the sudden slowdown in crypto.

Hayes tell its 524,900 followers on social media platform

“I love this choppy downward trend in shitcoin prices. I add PENDLE and DOGE to my bags.

DOGE is trading at $0.12 at the time of writing, up more than 2% in the last 24 hours. Meanwhile, PENDLE is trading at $5.65 at the time of writing, up almost 13% on the day.

Hayes, who is also an advisor to the Pendle project, was recently spotted will lock $8.4 million worth of PENDLE tokens until September 5 this year.

PENDLE, the platform’s native token, can be used to earn rewards by those who provide liquidity to the protocol. The PENDLE token lock can last up to two years and allows users to vote on governance proposals while earning 3% of all yield accrued by its Yield Bearing Tokens (YT).

Another project that Hayes said he is optimistic about is Ethereum (ETH) competitor Aptos (APT). Hayes predicted that the Aptos layer 1 (L1) smart contract blockchain will surpass Solana (GROUND) this market cycle in one to three years.

Aptos is trading at $6.81 at the time of writing, up more than 2% in the last 24 hours.

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Altcoins

The ALTcoin market has an incomplete impulse cycle

TokenTalk Staff

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The ALTcoin market has an incomplete impulse cycle

https://news.google.com/./articles/CBMiXWh0dHBzOi8vd3d3LmJhcmNoYXJ0LmNvbS9zdG9yeS9uZXdzLzI2OTM3NDcyL2FsdGNvaW4tbWFya2V0LWhhcy1hbi1pbmNvbXBsZXRlLWltcHVsc2l2ZS1je WNsZdIBAA?hl=en-US&gl=US&ceid=US%3Aen

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Is the crypto market ready to explode?

TokenTalk Staff

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Is the crypto market ready to explode?

The price of Bitcoin seems to have found its footing and is starting to rise again after a recent decline. Crypto trading expert Michael van de Poppe is among those supporting the argument that Bitcoin has reached its lowest point and is now on an upward trajectory. This change also has a positive impact on other cryptocurrencies.

Here’s an overview of current trends in the cryptocurrency market!

Recent Bitcoin Performance

Nowadays, Bitcoin is trading at $66,155. Recently, its price has been fluctuating between $63,000 and $65,000, indicating that it may have reached its lowest level. According to Michael van de Poppe, this range likely marked the lowest point for Bitcoin, which is now expected to rise further.

Bitcoin Market Indicators

The 1-day candlestick chart for Bitcoin/USD now shows a large green candle, signaling bullish momentum for Bitcoin. This is a positive sign that the price of Bitcoin is starting to rise from its recent low.

Impact on Altcoins

As the price of Bitcoin increases, other cryptocurrencies also see their performance improve. On June 6, 2024, the altcoin market capitalization peaked at $1.39 trillion. Today, June 20, 2024, it stands at $1.21 trillion, which is an improvement from yesterday’s $1.18 trillion. This suggests a recovery in the altcoin market alongside the resurgence of Bitcoin.

Bitcoin Dominance and Recent Movements

The dominance of Bitcoin The value is currently at 51.8%, close to its 6-month high of 52.47% reached on June 18, 2024. Earlier this month, on June 5, the price of Bitcoin was above $71,000. Since then, it has continued to decline, with a current opening price of around $64,915. Over the past 30 days, the price of Bitcoin has fallen by 6.9%. Over the last 7 days it has changed by -2.5%, but over the last 24 hours it has increased by 1.4%.

In conclusion, the fall in the price of Bitcoin seems to have stopped and it is now starting to rise again. This upward trend is also benefiting other cryptocurrencies, suggesting a positive change in overall market sentiment. The recovery in altcoin market capitalization further underlines this optimistic outlook.

Bitcoin’s rebound could signal a further surge in the crypto market, pointing to a more optimistic future for cryptocurrency traders and investors.

Read also: MicroStrategy Completes $800 Million Convertible Note Offering, Acquires 11.9K Bitcoin for $786 Million

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Copyright © 2024 TOKENTALK.TOP. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.