A new cat meme coin has been going parabolic in the last 24 hours, blasting up over 1,500%. BONGOCAT was last trading in the mid-$0.26s, up nearly 400x versus its initial listing price across decentralized exchanges on Thursday of around $0.00065. The BSC Chain-based meme coin says on its website that it has one goal; “to create a strong community of diamond hands who will all prosper from the project’s success”.... Read More: BONGOCAT Coin Price Prediction as Coin Blasts Up 1500% in 24 Hours – What's Going On?
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HashKey To Cease Deposits and Withdrawals From Binance Wallet Address
Hong Kong cryptocurrency exchange HashKey has announced May 10, 2024, as the deadline to stop the transfer of digital assets to and from leading trading platform Binance. No More Deposits From Binance Wallets The decision came on the premise of a new policy change on HashKey, per the memo that was addressed to users of The post HashKey To Cease Deposits and Withdrawals From Binance Wallet Address appeared first on CoinGape .
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Internet Computer Teases Latest Evolution In AI Smart Contract Engine
Barely one month after talking about the introduction of the world’s first blockchain-based Artificial Intelligence (AI) represented on a smart contract, Internet Computer (ICP) has now hinted at a major evolution in the pursuit. Internet Computer Is Advancing AI Smart Contract Capabilities In an X post, ICP founder Dominic Williams highlighted a massive acceleration of The post Internet Computer Teases Latest Evolution In AI Smart Contract Engine appeared first on CoinGape .
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Grayscale Bitcoin ETF Faces $1.6B Outflows as Bitcoin Halving Nears
As the Bitcoin halving event approaches, Grayscale’s spot Bitcoin ETF (GBTC) has reported substantial capital withdrawals. In the past five days alone, investors have withdrawn $89.9 million, a net outflow of $1.6 billion since January. This is indicative of growing investor sentiment in the broader market. However, despite having the first-mover advantage in the Bitcoin The post Grayscale Bitcoin ETF Faces $1.6B Outflows as Bitcoin Halving Nears appeared first on CoinGape .
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Shiba Inu Price Analysis: Will Bitcoin’s Post-Halving Rally Push SHIB to $0.00004
Shiba Inu Price: Shiba Inu, the second-largest meme cryptocurrency, projected a sluggish price action this week, following the lead of Bitcoin’s pre-halving consolidation. As shown in the below chart, the daily chart projected alternate green and red in short bodies reflects no clear dominance among bulls or bears. However, an analysis of the daily chart The post Shiba Inu Price Analysis: Will Bitcoin’s Post-Halving Rally Push SHIB to $0.00004 appeared first on CoinGape .
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Why Does Solana Outperform The Market?
Solana (SOL), nicknamed the ETH killer and an institutional investor favorite asset is known for making a significant rebound in the crypto market. Like other cryptocurrencies, Solana recorded outflows last week due to geopolitical tensions as investors withdrew funds from risky assets. Solana trades at $144, a 5.2% increase in the last 24 hours lowering The post Why Does Solana Outperform The Market? appeared first on CoinGape .
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DeFi Platform Hacked for at Least $1,900,000 and Possibly More on Ethereum and Arbitrum Blockchains
A decentralized finance (DeFI) protocol has been hacked to the tune of millions of dollars over the Ethereum (ETH) and Arbitrum (ARB) blockchains. In a new announcement, cybersecurity firm Cyvers says that DeFi platform Hedgey Finance has been breached by bad actors who took at least $1.9 million worth of funds that were converted to The post DeFi Platform Hacked for at Least $1,900,000 and Possibly More on Ethereum and Arbitrum Blockchains appeared first on The Daily Hodl .
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Telegram to Tokenize Emojis and Stickers on TON Blockchain
Telegram, the widely used messaging service, has announced its commitment to The Open Network (TON) blockchain, revealing plans to tokenize emojis and stickers. This step denotes a more comprehensive engagement in blockchain technology, with the goal of forming an interactive and financially inclusive platform. Tokenization of Digital Assets At the Token2049 conference held in Dubai, The post Telegram to Tokenize Emojis and Stickers on TON Blockchain appeared first on CoinGape .
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Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook
The highly anticipated Bitcoin Halving event is close, bringing with it heightened expectations regarding the long-term impact on the Bitcoin price. There are concerns, however, that this quadrennial event may already be priced in, as Bitcoin recently reached an unprecedented all-time high of $73,700 on March 14. This surge broke the pattern of previous Halvings, where Bitcoin had never surpassed its previous ATH before the event. However, historical data reveals significant price increases in the year following previous Halvings. Experts Predict Delayed Bitcoin Halving Price Impact Analysts argue that the compounding impact of reduced issuance takes several months to materialize, suggesting that the Halving itself may not prompt a significant rally before or immediately after the event. Deutsche Bank analysts share this sentiment, highlighting that substantial price increases have typically occurred in the run-up to previous Halvings rather than immediately after them. Related Reading: Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold? Another factor to consider is the increased production costs for Bitcoin miners resulting from the Halving. As the mining reward decreases, participating in the mining process becomes less profitable. This has historically led to a decline in the hashrate, the total computational power used for Bitcoin mining. JPMorgan analysts predict that production costs could rise to an average of $42,000 after the Halving. One JPMorgan analyst wrote, “This estimate is also the level we envisage Bitcoin prices drifting towards once Bitcoin-Halving-induced euphoria subsides after April.” While these factors may influence short-term price movement, historical data reveals that the price of Bitcoin has experienced significant increases in the year following previous Halvings. The respective price gains for the three previous halvings were 8,760%, 2,570%, and 594%. However, it’s important to note that each successive halving has a diminishing impact on the new supply of Bitcoin. Mining Industry Shake-Up In the mining sector, Halving could lead to significant revenue losses, estimated to be around $10 billion annually. According to Fortune, publicly traded miners have taken measures to increase their resilience, diversify their offerings, and optimize their operations. However, mining stocks have faced challenges, with some experiencing significant declines. While larger miners may undergo a period of adjustment, smaller miners and pools may be pushed offline. This could result in a wider market share for the surviving miners. Experts at private asset management firm Bernstein expect the mining industry to consolidate, with “smaller and less efficient players” potentially selling assets to raise capital and shore up their balance sheets. The increased market dominance of the surviving miners is expected to be profitable over the long term, especially with the continued structural demand for Bitcoin from ETFs. Timing The Bitcoin Bull Market Peak Cryptocurrency analyst Rekt Capital has provided insights into the potential timing of Bitcoin’s bull market peak based on historical Halving cycles and the current acceleration seen in the market. According to Rekt Capital, Bitcoin has traditionally reached its peak in the bull market approximately 518-546 days after the Halving event. However, the current cycle has shown signs of unprecedented acceleration, with Bitcoin surpassing previous all-time highs roughly 260 days ahead of historical norms. Nonetheless, the recent “pre-Halving retrace” has slowed down the cycle by around 30 days and counting. Related Reading: The Next Dogecoin? Top Trader Points To This Memecoin Taking into account this accelerated perspective, if Bitcoin’s bull market peak is measured from the moment it breaks its old all-time high, it may occur 266-315 days later. As Bitcoin achieved new all-time highs in March, this suggests a potential bull market peak in December 2024 or February 2025, according to Rekt’s analysis. Both perspectives carry significance throughout the cycle, especially if the acceleration trend persists. However, prolonged retracements or consolidation periods can slow down the cycle, potentially pushing the anticipated bull market peak further into the future. At the time of writing, BTC was trading at $64,300, up from the $59,000 mark reached in the early hours of Friday. Featured image from Shutterstock, chart from TradingView.com
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