DegensDaily

20/04/2024

The US dollar bulldozed all local currencies this month after reaching a new high of 106.27 in the DXY charts. The sudden surge in value comes after global institutional investors flocked toward gold and the US dollar for financial safety. The conflict between Iran and Israel is making the markets worried as an escalation could make the equity markets crash. Therefore, top institutional investors have started moving their funds into the USD, gold assets, Japanese Yen, and the Swiss Franc.

All these four assets are attracting heavy buying sentiments in fear of a crash in the equity and commodity markets. The fears stem after crude oil prices briefly climbed above the 85 mark this week amid the Middle East tensions. Several financial experts predict that if the Iran and Israel conflict escalates, crude oil prices could reach $100 a barrel. This gives the US dollar an added advantage along with gold, as they’re considered safe investments during unexpected market corrections.

Apart from the US dollar and gold, other leading currencies Japanese Yen and Swiss Franc as experiencing a buying spree. “It’s pretty obvious the market is nervous,” said Bank of Singapore currency strategist Moh Siong Sim to Channel New Asia.

Also Read: Where’s De-Dollarization? US Dollar Hammers Other Currencies in 2024

He explained that investors are cautious, as they know something bad has happened, but are worried about the gravity of the situation. “I think markets are at this stage in a flight-to-safety mode. Right now, we’re still in a situation where we know something has happened. But we need to understand the degree of retaliation,” Sim said.

The concerns about not knowing what to expect next are what made investors find a safe haven on the US dollar, gold, Japanese Yen, and Swiss Franc.

19/04/2024

The Polkadot community has proposed a $8.8 million sponsorship deal with Lionel Messi’s Inter Miami football club as the protocol is to amplify its global presence.

The sponsorship would feature Polkadot’s branding on Inter Miami’s training kits for the 2024 and 2025 seasons.

Polkadot Eyes Inter Miami Partnership
The Polkadot community believes the partnership would help the protocol achieve substantial global reach and exposure through the football club and the presence of footballing icon Lionel Messi, as well as help showcase the capabilities of the Polkadot ecosystem through sports-related marketing endeavors. Inter Miami, owned by David Beckham, is one of the leading clubs in the American soccer league and has a prominent presence on social media. The club has garnered significant media attention after signing some of the sport’s biggest names, including Lionel Messi, Sergio Busquets, Jordi Alba, and Luis Suarez.

“NEW: Polkadot $DOT may sponsor Messi’s Inter Miami Football Club for $8.8 million, placing its branding on training kits during the 2024 and 2025 seasons.”

Details Of The Partnership
According to the proposal, the sponsorship would be for the duration of the 2024 and 2025 seasons and would feature Polkadot’s branding on Inter Miami’s training kits. According to the proposal, the training kit partnership with Inter Miami will help make Polkadot a globally recognized brand thanks to the presence of global superstars such as Lionel Messi.

18/04/2024

Investment banking giant Goldman Sachs has warned investors against using past Bitcoin halving cycles to predict the BTC price performance after the coming halving event.

The quadrennial Bitcoin halving will happen in less than two days, and many analysts and investors anticipate that BTC’s price will rally after that, as it has done after past halving cycles.

But Goldman says things might be different this time because of the prevailing macro conditions.

“Caution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions,” it said.

🚨 Bitcoin’s 4th halving is imminent! 🔍 warns not to rely on past trends for future predictions. The macroeconomic landscape has changed, and so might Bitcoin’s price trajectory post-halving. 🚀 Stay informed! pic.twitter.com/NiMTYS843j

— John Bravo () April 17, 2024

During the past halving cycles, demand for risk assets was high as interest rates remained at or below zero in most developed economies. But now US interest rates are at above 5%, with analysts growing more skeptical that rate cuts will happen this year.

With interest rates remaining high, it implied that demand for risk assets such as Bitcoin may be underwhelming compared with previous cycles.

Bitcoin Halving Is A Psychological Reminder Of Capped BTC Supply
Goldman noted that demand for Bitcoin grew after the approval of spot Bitcoin exchange-traded funds (ETFs) in the US in January, and said the Bitcoin price will likely continue to be driven more by the dynamics of supply and demand, and how much continued demand there is for BTC ETFs, than the halving itself.

Still, it added that Bitcoin halving is a “psychological reminder to investors of BTC’s capped supply.”

17/04/2024

Macro guru and ex-Goldman Sachs executive Raoul Pal is revealing that is heavily invested in one Ethereum (ETH) competitor.

Pal says in an appearance on the Bankless YouTube channel that the native token of the layer-1 blockchain Solana (SOL) comprises about four-fifths of his crypto holdings while the rest is in memecoins, digital collectibles and in a digital assets-focused investment vehicle.

“I am 80% SOL. All of my ETH is now NFTs (non-fungible tokens), I have been buying high-end art NFTs.

I then have a bunch of the portfolio in the fund of hedge funds in Exponential Age Asset Management.

And I have 1% in stupid s**t like dogwifhat, Dogecoin and Bonk. Got all of those. But that’s 1%… just to be clear I’ve got like in all of memecoins and everything else, 1% of my portfolio. I am 80% Solana.”

On what convinced him to bet heavily on Solana, the former Goldman Sachs executive says,

“The chart that was a standout in 2022 was the Solana/Ethereum chart. And that was the chart that got me buying Solana and then going all in. Much like I went into Ethereum all in about September 2020. I just did it earlier in Solana.”

Solana is trading at $133 at time of writing, up by over 1,240% from the 2022 closing price of about $9.89.

Over the same period, Ethereum has increased by around 155% from the 2022 closing price of around $1,200 to the current $3,062.

17/04/2024

The crypto market has been in the downtrend in the last few days. This is presenting a great investment opportunity for some while others are in panic. With some great coins at a dip from their usual trading levels, let’s break down the best investments in the market right now.

Are Markets Expected to Recover?
While the crypto market seems to have taken a dip, OGs in the space like GCR have been public about their views stating that this is “a good opportunity to scale into high conviction tokens’. The historic data suggests markets are expected to surge following the Bitcoin halving only a few days away. This has investors in for the long run for meme coins like BEFE among others.

Why Meme Coins?
Meme coins seem to be the play for most investors. The meme coin market has a trading volume of over $8M in the last 24 hours alone and rising degens seem to have made this market worth the watch. A high conviction buy in such a market seems to be the BEFE coin. While some meme coins like DOGE and PEPE have found success, most meme coins today lack a fair launch. BEFE coin caught some hype thanks to its fair launch last year, surging to over 500% in its all-time high of $0.001127. BEFE has partnered up with some great projects in the ecosystem, a major partnership being Bitgert. BEFE is strong in its technicals with a market cap of $19.5M despite the market conditions. The team behind BEFE has also been very engaging as BEFE expands from its presence on the BNB Smart Chain and Ethereum chain to the meme coin favorite chain Solana chain with SBEFE.

Conclusion
The crypto market’s recent dip seems to provide a great opportunity to buy high-conviction coins. With the meme coin market at a market cap of over $46B from the global crypto market of $2.26T, experts are eyeing meme coins like BEFE to lead the charge as the market prepares for some great volatility with the upcoming Bitcoin halving.

17/04/2024

Solana-Bitcoin Connection Could Mean a Turnaround Soon
For the last month, Solana has seen some highs and some lows. Its network had been the main player of March’s Meme Coin Mania event. Many Solana-based meme coins had surged in price, including Dogwifhat (WIF) and Book of Meme (BOME). Yet, network congestion that led to a 75% transaction failure rate hindered its success.

Moreover, Solana (SOL) has not performed as well as many had hoped. A large reason is that Solana correlated with Bitcoin, which has now driven the price of the asset below the $130 mark. In the last 24 hours alone, the value has dropped almost 11%.

That has only multiplied with investors losing confidence in the asset. According to Coinglass data, the Open Interest in the asset dropped from $2.89 over the last several days to $1.84 billion. Yet, the upcoming Bitcoin Halvign event has many optimistic that this could change.

According to BeInCrypto forecasts, the asset could see a continued correction. Specifically, its current 34% downtrend would be combined with a 24% decrease to drop SOL below the $100 mark. In that scenario, the expectation is that the asset would find support, lessening any further decline in value.

Alternatively, support at $120 could set a different course. Specifically, bearish projections could be countered with a price rally to $150 in the cards. With the Bitcoin halving nearing, it may see that support allows SOL to mirror a rally that BTC observes.

15/04/2024

In a recent legal challenge, Coinbase has filed a brief with the Southern District of New York, seeking permission for an interlocutory appeal against the U.S. Securities and Exchange Commission’s expansive interpretation of what constitutes an “investment contract” in digital asset transactions. This pivotal case could set significant precedents for the cryptocurrency industry in the United States.

Coinbase Argues Against SEC’s Broad Interpretation of Investment Contracts
In its latest brief, Coinbase argues that the U.S. Securities and Exchange Commission’s (SEC) application of the term “investment contract” to various cryptocurrency transactions exceeds the legal bounds set by Congress. According to the company’s court filing, this overreach could stifle innovation and place a heavy burden on the digital asset sector, which is a vital part of the modern financial ecosystem. The core of Coinbase‘s argument hinges on the necessity for an “investment contract” to involve explicit contractual obligations post-transaction, which the SEC’s current stance does not seem to require.

The outcome of this appeal could have profound implications across the cryptocurrency landscape. The lack of clarity on regulatory requirements poses challenges to other digital asset companies, potentially leading to inconsistent compliance practices and uneven regulatory enforcement. A decision in favor of Coinbase could lead to a more defined regulatory framework that might encourage innovation while ensuring consumer protection.

The SEC maintains that its approach is justified, based on existing securities laws. However, this interpretation has been met with opposition not only from Coinbase but also from other market participants and legal experts who argue that this broad interpretation could miscategorize many digital assets as securities. This has sparked a broader discussion about the need for updated regulations that specifically address the unique characteristics of digital assets.

15/04/2024

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15/04/2024

The Cat in a Dogs World price has gone ballistic, surging 108% in the last 24 hours to trade at $0.004708 as of 12:42 a.m. EST on a 98% surge in trading volume to $120 million.

Cat In A Dogs World Price Drive The Price Up In A Bull Rally
The MEW price is bouncing back after a period of decline began on April 3. Bulls have found support around $0.001841, helping to push the price upward. The price reached the $0.004975 mark, matching the high on Apr. 11.

Cat In A Dogs World Price Targets Another Bull Rally
The MEW price bulls are determined to push the price upwards, aiming to recover their losses. With support from the technical indicators, the bulls are targeting reclaiming the March 31st high at $0.009288.

However, if the bears intervene, the price could retrace towards the support level of $0.003658, which coincides with the 50 SMA.

Dogeverse: Is This The Next 1000X Gem To Buy Today?
Even as the Cat In A Dogs World price generates upward momentum, investors are shifting their focus to the multi-chain DOGE derivative presale for potentially explosive gains.

The ICO, launched less than a week ago, has already raised more than $4.5 million, prompting YouTube channel Cryptonews to say it might be the next 1000x crypto.

As Doge Day approaches on April 20, the new meme coin continues to attract the attention of crypto investors due to its creative utilization of multiple blockchains and its endearing mascot.

Dogeverse (DOGEVERSE) centres around Cosmo the Doge, who can navigate across different crypto chains, symbolizing unity and creativity within the Doge community.

While Dogeverse pays homage to Dogecoin, it’s not officially affiliated with DOGE. Instead, Dogeverse aims to introduce fresh utility and innovation to the world of meme coins.

13/04/2024

Unveiling Potential: Top Tokens Beyond Bitcoin Halving

In the turbulent seas of cryptocurrency trading, few events stir the waters quite like Bitcoin halvings. Yet, while Bitcoin itself becomes the focal point for many traders during these times, there are traders who set their sights on smaller-cap options, seeking not just waves but tsunamis of profit.

During the previous halving, tokens such as ZAP, AAVE, and LINK showed remarkable growth, with gains reaching heights previously unseen, even surpassing 2000%. With the next Bitcoin halving approaching in less than three weeks, the stage is set for a new, fresh group of tokens to thrive, and these five could be just that.

https://thebittimes.com/5-small-cap-crypto-gems-below-1-with-high-investment-potential-tbt85159.html

12/04/2024

5 Small-Cap Crypto Gems Below $1 with High Investment Potential.
There is no better time to find some gems to invest in than around and before Bitcoin halving. When the market is mostly in the green, some tokens show more potential than others, sometimes even more than Bitcoin itself. Tokens that have surpassed Bitcoin's growth during past halvings were mostly the ones with a small cap. Today, we'll go through five of them that have a price lower than $1 but have the potential to rise significantly.

There is no better time to find some gems to invest in than around and before Bitcoin halving When the market is mostly in the green some tokens show more potential than others sometimes even more than Bitcoin itself Tokens that

12/04/2024

Animoca Brands plans to launch a new non-fungible token (NFT) platform designed to bridge web3 projects in Japan with the global market.

According to an announcement by Animoca Brands, the launchpad will be officially introduced this summer, aiming to support creators and projects in selling their NFTs. The company has designated early May 2024 to reveal the name of the platform.

New NFT Platform to Connect Japan to World
The launchpad is now inviting applicants to submit their web3 projects. Once selected into the program, the platform will also provide “multifaceted support for sales strategies and marketing.”

Founded in 2021, the company’s subsidiary in Japan seeks to serve as an entrance into web3, connecting Japan with the international community by utilizing the extensive network.

Together with over 400 portfolio companies and partners, Animoca Brands could reach more than 700 million users globally.

Animoca Brands Japan facilitates the international growth of Japanese intellectual property and content creators within the web3 space. The company has recently started offering comprehensive support to foreign projects operating in the country.

The targeted content producers and holders include major publishers, brands, education, sports teams, athletes, artists, and game companies.

Animoca Brands Partners with HashKey Exchange
In January, HashKey Exchange and Animoca Brands formalized a strategic partnership to foster joint initiatives and strategic advancements in the realm of virtual assets, including public educational activities on Web3 and the potential listing of specific virtual assets on HashKey Exchange.

“As pioneers in the digital entertainment space, they’re set to elevate the Web3 ecosystem in Asia,” said HashKey in a social media post. “Stay informed about cutting-edge trends and innovations!”

The partnership aims to propel growth and innovation within the digital entertainment sector. Under the terms of the agreement, Animoca Brands would establish an account on HashKey Exchange to underscore their shared dedication to lawful virtual asset trading.

10/04/2024

New Cryptocurrency Releases, Listings, & Presales Today
Dogita intends to promote female empowerment and gender equality with its DOGA token. Meanwhile, 5th Scape is set to transform the VR gaming industry with innovative offerings that promote direct mind-to-mind connections. During its Presale Stage 4, the project has surpassed $4 Million, almost hitting the $5 Million mark.

In other news, Crypto Bulls Suffer $175 Million Liquidations as Bitcoin Dips Below $69,000.

1. Spiderswap (SPDR)
Spiderswap intends to redefine token swapping dynamics. Its mission is to integrate with Solana’s community of builders to create shared prosperity and robust liquidity solutions. The platform allows users to engage in swift and reliable transactions using their preferred custodial extension wallets.

2. Dogita (DOGA)
DOGITA token symbolizes femininity and empowerment in the world of decentralized finance. This token aims to carve out its own niche while upholding the fundamental principles of its predecessor. It also represents a feminine iteration of the beloved Dogecoin.

3. Versity (SITY)
VERSITY Metaverse aims to leverage decentralized technologies to inject transparency into property transactions. This project intends to work towards digitalizing the real estate lifecycle. This revolution should touch everything from transactional exchanges to the signing of deeds.

10/04/2024

Gaming, Stablecoins and Product Innovation Take the Stage at Sui Basecamp, Inaugural Global Conference for the Sui Ecosystem

Sui Basecamp, the inaugural global conference for the Sui ecosystem opened its doors today in Paris, welcoming developers and entrepreneurs from around the world as they celebrate Paris Blockchain Week. A two-day event across two venues, Sui Basecamp features speakers across web2 and web3, spanning industry verticals from payments to gaming to ecommerce to major league sports. A celebration and exploration of the latest developments in web3, attendees are invited to presentations on cryptography from some of the world’s leading technologists, fireside chats on increasing market liquidity, and panels on real-world technological use cases

09/04/2024

6 criptomonedas de menos de 1 dólar a tener en cuenta, según experto
El mercado de las criptomonedas está al borde de un posible repunte, con seis altcoins por debajo de 1 dólar generando interés

El mercado de criptomonedas podría estar al borde de un cambio significativo, preparándose para una ruptura alcista. En este escenario, según análisis de Anna Mugoiri, de Cryptopolitan, 6 altcoins con precios inferiores a 1 dólar están capturando el interés de los inversores por su potencial de ganancias significativas: Cardano (ADA), P**L AI (P**L), XRP, Dogecoin (DOGE), Choise.com y 0x0.ai. Mira el análisis:

https://es.cointelegraph.com/news/6-cryptocurrencies-under-1-to-consider-says-expert

Rodrigo Di Paula Ambrissi 04 Apr 2024 6 criptomonedas de menos de 1 dólar a tener en cuenta, según experto El mercado de las criptomonedas está al borde de un posible repunte, con seis altcoins por debajo de 1 dólar generando interés Análisis El mercado de criptomonedas podría estar al borde ...

09/04/2024

BitMEX co-founder Arthur Hayes said Bitcoin and crypto prices may slump around the time of the Bitcoin halving as US policymakers use a “bag of tricks” to bail out the financial system.

The halving on Apr. 20 will also coincide with a period of tight dollar liquidity with tax payments due from April 15 to May 1, he said in a blog post.

“Given that the halving occurs at a time when dollar liquidity is tighter than usual, it will add propellant to a raging firesale of crypto assets,” he said. “April will experience extreme weakness in risky asset markets.”

— Arthur Hayes April 9, 2024

Bitcoin is back to trading above $70K as the market anticipates the halving, which is less than two weeks away. The Bitcoin Fear & Greed Index is at 80, showing “extreme greed.”

Hayes said the narrative of the Bitcoin halving being a bullish catalyst is “well-entrenched,” but added that past trends show that when the market expects a certain outcome, the opposite tends to happen.

Fed Policies Will Drive Long-Term Gains
The Federal Reserve is surreptitiously printing money “in order to bail out the financial system” and that could trigger gains for cryptocurrencies, gold, and stocks in the long run, Hayes said.

09/04/2024

Bitcoin’s Apr. 20 halving and strong demand from BTC ETFs could give the MicroStrategy share price a substantial boost as the company is well positioned to benefit, said broker Benchmark.

Benchmark increased its price target for MicroStrategy (MSTR) from $990 to $1,875, while also maintaining a buy rating for the company. The elevated target is based on the assumption that BTC will reach $150k by the end of 2025, an increase from an earlier estimate of $125k.

The MSTR price responded positively to the report, surging more than 5% in the last 24 hours to trade at $1,512.99 as of 2:50 a.m. EST.

“While the upcoming bitcoin halving will create a supply shock as the previous ones had, we believe the event’s impact could be magnified by the concurrent demand shock created by the emergence of spot bitcoin exchange-traded funds (ETFs),” said analyst Mark Palmer. “We expect inflows into spot bitcoin ETFs to grow dramatically once institutions begin to invest in them in earnest.”

08/04/2024

A weekly candle close above $69,000 (the top of the previous bull market) means that bitcoin could be ready to rip upwards. A breakout of its bull pennant on Monday could be the beginning of the next huge leg upwards.

A Strong Weekly Close
An extremely important hold above the all-time high of the 2021 bull market can provide bitcoin with the base to move much higher. A strong break of the bull pennant within which the price has been traversing since mid-March, could provide the impetus for the next all-time high, and a move into price discovery for the king of the cryptocurrencies.

$BTC Crashes Through Top Of Bull Pennant

As can be seen in the short term 4-hour chart above, $BTC has just crashed through the top of the bull pennant, and is also looking to break resistance. This resistance is the last before the top at just short of $74,000, so a break here may see the $BTC price surge to $74,000 very quickly.
That said, there could be a small retrace to the top of the triangle at around $70,000 in order to confirm the break. This would be quite a standard move, and one should expect a continuation to the upside once/if this happens.

$BTC Buyers Outmatch The Sellers

Strong buying continues to occur on a daily basis for bitcoin. The Blackrock Spot Bitcoin ETF (IBIT) had a big inflow of more than $309 million on Friday, which more than compensated for the $199 million that was sold out of the Grayscale ETF (GBTC). 
The Blackrock announcement that it was adding five companies to its Bitcoin ETF as Authorised Participants, could also add to the waterfall of money cascading into IBIT. Among these five, Goldman Sachs, Citigroup, and UBS, are certainly not short of funds to enter into the ETF.
The Genesis selling of $2.1 billion from its Grayscale ETF holding is now complete, and the US government sold a further 31800 BTC from its Silk Road confiscations last week, which was also eaten up in short order by the buyers.