Wemade says Tangled features an AI-based verification system to enhance safety for the Web3 live chat users.Users can accumulate time points and swap them for utility tokens like WEMIX.Wemade is making giant steps in bridging traditional gaming to Web3 and blockchain.Wemade, a leading South Korean based gaming and blockchain company, has today launched the new Talk to Earn (T2E) decentralised application dubbed Tangled on its DAO and NFT Platform NILE.The popular video game developer, whose The Legend of Mir title is one of the biggest gaming hits, shared the news via a press release on Monday. According to Wemade, the Web3 live chat dApp uses AI-based AI-based verification to ban fake gender accounts or profiles. The artificial intelligence helps to ensure dApp users enjoy the highest standards of safety and chat experiences, the firm noted.Live chat and earn pointsTangled users will have an opportunity to chat with others across the globe. The chat application has a built-in mechanism that allows users to earn time points as other users accept their chat offer.Accumulated points are then saved in native Tangled NFT called Tangled Timepieces. The NFTs are in three grades – Luxury, High-End, and Zenith. A user can fuse same grade NFTs to achieve a higher grade NFT. Higher graded pieces mean more time points and longer live chat times.Users can also exchange time points for TIPO, a utility token that one can then swap for other digital assets such as WEMIX.Microsoft-backed Wemade has been aggressive in its blockchain and Web3 strategy since CoinJournal reported on the firm’s “blockchain facelift” for Legend of Mir in 2020. The company recently partnered decentralised warehousing provider Space and Time to help power its blockchain gaming platform WEMIX PLAY. The collaboration will see Wemade help the next wave of GameFi development, Wemade announced.The UNI token also rallied last July when Wemade announced it would add liquidity to Uniswap. The Korean game developer’s interest via the WEMIX/USDC pool on Uniswap V3 saw huge volume spikes, aiding the uptick in UNI price.The post Wemade launches Web3 live chat app Tangled on NFT platform NILE appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/ZQOd3Fi

Chiliz price drifted sideways on Monday as the price of key fan token dropped sharply. The CHZ token was trading at $0.1297, where it has been in the past few days. This price is about 37% above the lowest level this year and ~26% above March’s low.Fan token prices retreatChiliz is a leading platform in the blockchain industry. It is a unique platform in the entertainment and sports industry. Its primary platform is known as Socios, which helps people trade fan tokens of some of the biggest teams in the world.Chiliz also provides a smart contract platform that makes it possible for teams to build fan tokens.Today, data compiled by Fan Market Cap shows that there are 82 fan tokens that have a combined market cap of more than $382 million.In most periods, Chiliz tends to do well when fan tokens are rising. In the past few days, some fan tokens have done well, with OG’s token jumping by over 257%. Other top fan tokens like Manchester City and Alpine have risen by 16% and 51%, respectively in the past 7 days.However, most of these tokens are some of the worst performers in the past 24 hours. OG price has dropped by 20% in the past 24 hours while Alpine, Arsenal, Inter Milan, and Atletico Madrid have dropped by double-digits in the same period. Another reason why the CHZ price is struggling is that the overall volume has dropped in the past few days. The token’s volume jumped to a high of 319.85 million on April 8, the highest level since February 22. This volume has dropped to ~83 million on Monday. Chiliz price predictionMediaSo, is it worth it buy Chiliz? The daily chart shows that the CHZ price has been in a tight range in the past few days. This price is consolidating at the 50-day and 25-day moving averages. It has moved above the ascending trendline that connects the lowest level since June last year. The Relative Strength Index (RSI) has moved below the key level at 60.Therefore, the token will likely remain in this range for a while and then retest the ascending trendline at $0.10. A move above the key resistance at $0.1432 will invalidate the bearish view.How to buy ChilizeToroeToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.Buy CHZ with eToro today Disclaimer Binance.USBinance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.Buy CHZ with Binance.US todayThe post Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/frjcE0P

South Korean exchange GDAC reported the hack early Monday.The exchange said the hackers stole nearly 61 BTC, 350.5 ETH, 10 million WEMIX tokens and 220,000 USDT.On-chain data shows the hacker has swapped USDT for ETH and sent 461 ETH to a crypto mixer.Crypto news out of South Korea is that hackers stole nearly $13 million from the crypto exchange GDAC. The exchange reported that the incident occurred on Sunday.According to the exchange’s security update, the hackers transfered roughly 61 bitcoin, 350 ether, 10 million WEMIX tokens and 220,000 USDT from its hot wallet.In total, the hack left GDAC with a $13 million or so hole in stolen crypto, with the lost funds accounting for 23% of the exchange’s total custodial holdings.As a result of the hack, GDAC suspended its wallet system, pausing deposits and withdrawals. The exchange also announced it had reported the hack to the South Korea police, requesting for a cyber investigation.Hacker sends 461 ETH to Tornado CashGDAC said the assets were taken from its hot wallet, with the hackers transferring the coins to an unknown crypto wallet. While GDAC says its working with Korean security experts and authorities in a bid to recover the funds, crypto market intelligence firm Arkham reports the hacker has swapped the USDT into ETH. The blockchain intelligence platform revealed on Monday that the attacker had already sent approximately 461 ETH to the crypto mixing platform Tornado Cash.The post South Korean crypto exchange GDAC hacked for $13 million appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/8FxcD0J

KBW analyst now rates Block stock at market perform.Steven Kwok still sees upside in “SQ” to $75 a share.Block shares are currently down over 25% year-to-date.Shares of Block Inc (NYSE: SQ) are trading down this morning after a KBW analyst downgraded the crypto company citing several “small risks”.Block Stock could still climb to $75Steven Kwok now rates the San Francisco-headquartered firm behind Cash App at “market perform”. His lowered price target of $75, though, still suggests about a 10% upside on its previous close.The analyst finds Block stock a bit less attractive now that multiple risks are piling against it. His research note reads:This big items revolve around rising competition within acquiring, and potential for regulatory scrutiny within its Cash App segment.In February, Block Inc reported weaker-than-expected earnings for its fourth financial quarter.Hindenburg has a short position in Block IncKwok is not convinced that the company’s income from instant deposit fees or unregulated interchange are very dependable. Rising competition, he said in his research note, could also weigh on take rates, volume growth, and profitability.Strength in its seller business is rooted in its in-store offering, and as more goods are sold online, this could shift purchase volume to marketplaces and eCommerce focused platforms like Shopify.Last month, short seller Hindenburg Research also took aim at the crypto company, alleging that its Cash App has a lot of fake/duplicate accounts, many of which were involved in criminal activities.Year-to-date, Block stock is down more than 25% at writing.The post KBW downgraded Block stock on Monday: find out why appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/lVrOabR

Solana is a top blockchain network and its native SOL token ranks among the largest by market cap.SOL on-chain staking is now supported on Crypto.com.Investors can earn rewards of up to 5% when they stake SOL on Crypto.com.Solana on-chain staking is now available on Crypto.com, a leading cryptocurrency exchange based in Singapore.An announcement from the exchange on Monday revealed that Crypto.com now supports SOL on-chain staking. According to the crypto platform, SOL holders can now earn more SOL rewards when they stake on Crypto.com, with up to 5% APR.There are also no fixed terms or minimum staking amount, the exchange announced via the Crypto.com Institutional Twitter account.All about efficiency and performance? You’re gonna love this. SOL is now available for on-chain staking on the https://t.co/A7lhUEyoao Exchange. Earn more #SOL rewards when you stake now! https://t.co/w5IWWkOtqC⬆️Up to 5% APR
🚫No fixed terms
🤏No min. staking amount@solana pic.twitter.com/QGJFFBps1c— Crypto.com Institutional (@Cryptocom_Insto) April 10, 2023Solana among best crypto assets for stakingCrypto staking platforms are crypto exchanges, brokers, or apps that allow users to earn rewards on their crypto assets by making it possible for them to lock the tokens in wallets or staking pools for a reward that comes after a set period.The staking process allows proof-of-stake blockchains to use staked coins to support and secure the network – which is different from the mining process of proof-of-work blockchains like Bitcoin.Solana is the third-largest crypto asset by staking market cap, behind only Ethereum and Cardano. However, according to the latest on-chain data for staking, the Solana network boasts the largest market share when it comes to staking reward ratio.Staking ratio refers to the percentage count of tokens eligible for staking that are being staked, and Solana’s ratio is currently at over 71%.In comparison, Ethereum, which transitioned to a proof-of-stake consensus mechanism in September 2022 via the Merge, only has staked ETH at 15.64%. Ethereum staking was introduced in December 2020 with the Beacon Chain genesis.Cardano and Cosmos have about 67% of tokens eligible for staking.The post Solana on-chain staking now on crypto exchange Crypto.com appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/F41gCMZ

Bitcoin price has broken above $29k, testing the $29,300 zone.On-chain data shows BTC holders are increasingly betting long on the asset.A macro sentiment indicator suggests Bitcoin price is poised for a parabolic move.Bitcoin rose more than 4% on Monday to break above $29,300 again, with data showing the gains come amid a rising count of BTC holders.The week ahead is expected to be huge for the market in terms of the economic data releases. But even as the broader market awaits the US consumer price index report, Santiment says most trader in the Bitcoin market are increasingly looking at the asset as a long-term bet.💰 There is a rising rate of #Bitcoin #hodlers as traders seem to have become increasingly content in keeping their bags unmoved for the long-term. We saw a similar trend from January, 2021 through April, 2021 when $BTC rose above $64k for the first time. https://t.co/xrwNhcqVLo pic.twitter.com/wYFBsx6Css— Santiment (@santimentfeed) April 9, 2023It’s a trend likely to buoy a new upside momentum for bulls.Bitcoin price indicator in focus – the aSOPRAccording to Bitcoin analyst Ali on Twitter, BTC is primed for a parabolic ride given the outlook of one of Bitcoin’s macro market sentiment indicators.In a price forecast he shared as BTC entered last weekend in a tight range around $28k, the analyst pointed to the Adjusted Spent Output Profit Ratio (aSOPR). The potential movement is still in play as Bitcoin crossed above $29k again on Monday.“Another Bitcoin indicator hints at explosive growth! Historically, aSORP (90d) below 1 signals a bear market, & above 1 signals a bull market. In 2015, 2019 & 2020, it led to 6,110%, 150%, & 579% gains. aSORP recently moved above 1, suggesting $BTC readies to go parabolic,” the analyst noted.BTC/USD currently trades around $29,200 and bulls will want to have the stubborn supply zone at $30k locked up with a major breakout performance. If not, the consolidation seen in the past several weeks and a possible dip below the range is likely.The post Bitcoin retests $29,300 as key metric signals parabolic BTC move appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/L0JnITQ

New York, US, April 10th, 2023, ChainwireBabylon x NYC, an exhibition of more than 100 physical and digital artworks, will take place in New York City on April 12-13, 2023. The exhibition, set up by <a href="https://babylon.art/">Babylon</a> — a Web3 gallery specializing in primary sales of NFT editions — will showcase works by the project’s 30 Founding Artists, well-known for their impact on the NFT art space.Also featuring, as highlights exclusive to <a href="https://www.eventbrite.com/e/open-day-babylon-x-nyc-tickets-601424164867?utm_source=press&utm_medium=release&utm_campaign=BabylonNYC">the exhibition</a>, are works by prominent Armenian artist Tigran Tsitoghdzyan, whose debut drop on Ethereum will be hosted on Babylon, and — for the first time on public display — the personal collection of Babylon founder Paruyr Shahbazyan.<a href="https://coinjournal.net/wp-content/uploads/2023/04/Tigran_Tsitoghdzyan_Self_Isolation_IV_1681072703tvvX6f589y.jpeg">Media</a>Babylon’s Founding Artists include mainstream creators like Rik Oostenbroek, who, in a 20-year career, has worked with the likes of Mercedes-Benz, Apple, and Nike; Archan Nair, whose work has been featured in Rolling Stone and Vogue, and Terrell Jones, whose gangster film-inspired pieces have been auctioned at Sotheby’s.<a href="https://coinjournal.net/wp-content/uploads/2023/04/Rik_Oostenbroek_The_Indecisive_11_1681072802rN2csVp550.jpeg">Media</a>The team and Founding Artists will be on hand to showcase this new NFT platform, which intends to become the home of NFT Editions, at the opening night on April 12. Babylon x NYC will then open to the public on April 13.Babylon is a passion project of founder Shahbazyan. He has dubbed it his ikigai — a Japanese concept that means ‘your reason for being.’ Shahbazyan is considered one of the largest and most followed independent NFT collectors, whose collection is estimated at around 4,000 ETH and features rare and valuable pieces such as a 3D Glass Hoodie Punk, a Spiral Fidenza, and a Red Ringer.He explains the significance of the Babylon x NYC exhibition:“Art has always occupied a special part of me, but I wanted to make an impact in the space rather than remain purely a collector.”“The emergence of NFTs has offered an opportunity to change and democratize the art world as much as printmaking did in the 18th century. Babylon is bringing in new sales mechanisms based around editions which will create an art world that is fairly distributed and open for all.”Tickets for the Babylon x NYC public exhibition are available <a href="https://www.eventbrite.com/e/open-day-babylon-x-nyc-tickets-601424164867?utm_source=press&utm_medium=release&utm_campaign=BabylonNYC">here</a>, and the exhibition booklet can be viewed <a href="https://issuu.com/babylonart/docs/babylon_booklet_pdf_with_works_compressed">here</a>.To enquire about attending the <a href="https://www.eventbrite.com/e/591335318857">private opening night</a> event as a media representative, please email mia@babylon.art. [image 1] Tigran Tsitoghdzyan, Self Isolation IV (2021), on display at Babylon x NYC[image 2] Rik Oostenbroek, The Indecisive (2023), NFT, on display at Babylon x NYCAbout BabylonLaunched in January 2023, Babylon is a Web3 gallery specializing in primary sales of NFT editions, created and run by a consortium of Founding Artists and collectors. Our vision is to make selling and collecting art accessible to all, amplifying the inherently democratic medium that editions are via a flexible listing model and diverse sales mechanics.<a href="https://babylon.art/">Website</a> | <a href="https://twitter.com/0xBabylon">Twitter</a><a href="https://coinjournal.net/wp-content/uploads/2023/04/babylon_logo_-_horizontal_1681071968llZ1d5troc.jpg">Media</a>ContactHead of Comms, Mia Agova, Babylon, mia@babylon.artThe post <a href="https://coinjournal.net/news/nft-and-traditional-artists-descend-on-new-york-for-babylon-art-exhibition/">NFT and Traditional Artists Descend on New York for Babylon Art Exhibition</a> appeared first…

Key takeawaysMetaMask has introduced a new feature that allows users to purchase cryptocurrencies with fiat currencies. The wallet wants to make it easier for users to purchase cryptocurrencies directly on its platform. MetaMask has included payment options like debit or credit cards, PayPal, bank transfers and instant ACH.MetaMask launches a fiat purchase feature Cryptocurrency wallet and decentralised application (DApp) provider MetaMask announced on Monday, April 10th, that it had launched a new feature that would allow its users to purchase cryptocurrencies with fiat currencies directly from its Portfolio Dapp.According to MetaMask, the move is designed to make it easier for users to purchase crypto with fiat currency. MetaMask’s new “Buy Crypto” feature enables its users to buy numerous cryptocurrencies using various payment methods, including debit or credit cards, PayPal, bank transfers, and instant ACH (Automated Clearing House). The wallet provider revealed that the service would be rolled out to users in 189 countries and will offer more than 90 tokens across eight networks, including Fantom, Celo, Ethereum, Arbitrum, BNBChain, Polygon, Optimism, and Avalanche. MetaMask users would be required to connect their wallets to the Portfolio Dapp to click on the “Buy” button in the MetaMask extension wallet to access this feature. This will allow users to select their region, payment option, the token, and the network they want to purchase on. MetaMask’s new feature works with locationAccording to MetaMask, the new feature takes into account various factors, like the user’s location and local regulations, to provide a customised payment quotation. Users are then redirected to a third-party provider’s website to complete the transaction, and the funds are deposited directly into the user’s MetaMask wallet afterward. MetaMask has been partnering with companies to make it easier for users to purchase cryptocurrencies. Last month, MetaMask partnered with MoonPay to enable direct crypto purchases in Nigeria.Also in March, MetaMask Institutional partnered with Allnodes, Blockdaemon and Kiln to launch a staking service for institutional investors. Companies and institutional investors are able to access a wide range of staking services provided by ConsenSys Staking Allnodes, Blockdaemon and Kiln.The post MetaMask introduces a new fiat purchase function for cryptocurrency appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/WgRYo0X

Tokyo, Japan, April 7th, 2023, ChainwireThe Japan Virtual and Crypto Assets Exchange Association (JVCEA)’s Green List dramatically speeds up the token listing on member exchanges, accelerating adoptionAstar Network, a smart contracts platform for multichain, officially announces the listing of its native ASTR token on Huobi Japan, which has now become the third crypto exchange in Japan to list ASTR after Bitbank and GMO Coin. Following this listing, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) has registered the ASTR token on its ‘Green List.’The JVCEA, a group of 31 crypto exchanges, introduced the Green List to speed up the listing on Japanese exchanges and boost crypto adoption in Japan. Previously, the JVCEA member exchanges had to go through a sluggish screening process for listing any cryptocurrency. The assets on the Green List aren’t subject to the screening process as they have already been rigorously screened by three or more member exchanges.Sota Watanabe, Founder of Astar Network, said, “Given that Astar has a significant presence in Japan and a lot of enterprises are entering Web3 with Astar, joining the Green List is a huge step not only for us but also for Japanese companies. It makes it much faster to list ASTR on other Japanese exchanges. We continue to work with regulators to utilize ASTR in Japan faster.”The ASTR token made it to the Green List after satisfying all the four requirements of the JVCEA:Handled by 3 or more member exchangesHandled by at least one exchange for over 6 monthsCrypto assets for which the JVCEA hasn’t set any incidental conditions for its handlingOther crypto assets for which there is no reason why the Association considers it inappropriate to be included in this listOn Huobi Japan, users will be able to buy ASTR using the Japanese Yen starting April 12th. Traders and investors buying ASTR on Huobi Japan will be able to transfer the token to any supported wallet they want.Astar Network is the go-to blockchain for developers and enterprises interested in exploring the Japanese Web3 space. It’s also the first public blockchain from the country to be listed there despite Japan’s strict listing regulations. Astar’s native token ASTR is registered as a cryptocurrency, not a security, by the Japanese government.About Astar NetworkAstar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging (XCM) and a cross-virtual machine (XVM). Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for their code and the dApps they build.One of the first parachains to come to the Polkadot ecosystem, Astar is a vibrant network that is supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.For more information, visit: Website | Twitter | Discord | Telegram | GitHub | RedditContactMaarten Henskens, press@astar.networkThe post Astar Network’s ASTR Token Registered on JVCEA’s ‘Green List’ After Listing on Huobi Japan appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/kp01mrt

<strong>Tokyo, Japan, April 11th, 2023, Chainwire</strong>TemDAO is a world heritage project that seeks to protect and preserve cultural assets through donations and democracy. The project, powered by the $TEM token, ensures the long-term sustainability of global cultural sites.Recently, TemDAO has made notable donations for preservation efforts in Ukraine, Turkey, and other regions worldwide. These actions aim to help communities preserve their existence and their global heritage.The team underlines the importance of recognizing the significance of preserving the world’s shared cultural history. TemDAO aims to positively impact global culture through its unique strategy and solutions.<strong>The Team’s Strategy for World Heritage and Cultural Assets Protection</strong>TemDAO has an innovative strategy for protecting world heritage and cultural assets. The project intends to empower individuals and organizations to stimulate projects that preserve these important resources.As a current initiative, the TemDAO team is working with Ninna-ji temple, one of the temples in Kyoto, Japan.There are many temples in Kyoto, but they have the problem of aging and need to be repaired or rebuilt. Ninna-ji Temple and TemDAO are working together to attempt to reconstruct the temple through donations.The project relies on transparent transactions in which all expenses are recorded on-chain, making corruption impossible and allowing for offering special utilities to collaborators who agree with their aims.The proposed utility is the right to stay in a special part of the temple. That room has an important historical significance, where an old emperor used to live. Wouldn’t it be historic to be able to stay in the same room and experience the same feelings?TemDAO is exploring the possibility of connecting the world of Buddhism at Ninna-ji Temple with the reality of their DAO to achieve sustainable protection and restoration of Ninna-ji Temple.<strong>A System Fueled by Democracy and the $TEM Token</strong>TemDAO is a platform that utilizes blockchain technology to facilitate the protection and maintenance of global heritage sites. It features two forms of democratic governance: off-chain voting, known as ‘soft’ governance, and on-chain voting.The $TEM token serves as the fuel for this system, with multiple use cases:It allows holders to lock $TEM. The operation enables the community to govern fundraising proposals and decide fund allocation.It enables the community to pay commission fees for IP-NFT trading.Staking $TEM creates a pool for fundraising and project reviews.Depositing $TEM allows users to become nodes that review projects while deterring cheating.The $TEM token distribution aims to provide incentives for all stakeholders in a democratic manner. Specifically, most of the tokens (62%) go to the ecosystem. This includes participants in World Heritage or cultural asset protection and funds for equipment and repairs.Additionally, 14% of the tokens help the team push its marketing efforts. The same quantity (14%) goes to developing the platform and its supporting services. The remaining 10% is in the hands of TemDAO stakeholders, such as the team, investors, prospective employees, and strategic partners.TemDAO’s decentralized governance mechanism preserves world history by balancing token utility and fund allocation.<strong>The Project’s Recent Donations for World Heritage Preservation</strong>The TEM project team has recently donated to several organizations to support the people and communities affected by global events. All of these donations were made from $TEM profits.In particular, they have donated funds to aid Ukraine following the Russian invasion of 2022. The team donated for relief efforts after an earthquake hit Turkey in February 2023. The team has contributed to NPOs and NGOs such as “Save the Children,” “Binance Charity,” and others through these donations.The project’s mission is to make sure that the world’s heritage is preserved and protected. In such a context, donations…

It is the first time the Bitcoin price is above $30,000 since June last year.The surge comes after a one-month consolidation around $28K.Analysts had set a support level at $25,000 and a resistance level at $30,000.Bitcoin price surged above $30,100 early Monday and has been above that level for the better part of the morning. It hit a daily high of $30,160.48 but was trading at $30,126 at press time.It is the first time since June 2022 that Bitcoin has hit $30,000, thus cementing the Bull Run that the cryptocurrency started at the beginning of the year.What pushed Bitcoin price above $30,000The BTC price has surged by more than 46% over the last few months rising to a ten-month level.Several analysts had predicted that Bitcoin would regain its $30,000 price tag as traders wait for the United States Consumer Price Index (CPI) report on April 12. The CPI is expected to give insight into the Federal Reserve’s battle against inflation.The Crypto Fear and Greed Index has remained within the “Greed” region for the last week, with the latest update putting the score at 68 out of a possible 100. The Crypto Fear and Greed Index numerically present the “emotions and sentiments” toward the cryptocurrency market and Bitcoin.The 68 Crypto Fear and Greed Index score is the highest Bitcoin has ever scored since it scored 66 on November 16, 2021, which was just days after Bitcoin hit its all-time high above $69,000.However, despite the Crypto Fear and Greed Index score being high, a majority of technical indicators still point to a strong bullish trend which points to a possible long-term bull run over the next days.The post Bitcoin surges above $30,100: here are the driving factors appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/sLQx2KM

Solana price has made a strong bullish comeback in the past few days as investors focus on the great crypto comeback. SOL jumped to a high of $22.60, the highest level since March 23 of this year. It has soared by over 30% from the lowest level in March.Crypto comeback continuesIt is worth noting that Solana’s comeback has coincided with the return of the raging bull in the crypto industry. Overnight, Bitcoin surged above $30,000, as we wrote in this article.The main driving force for this crypto rally is the feeling that the Federal Reserve is about to end its hiking cycle. Analysts believe that the bank will hike interest rates by 25 basis points in May and then maintain them at an elevated level for a while.Some analysts expect that the bank will then start cutting interest rates later this year or in 2024. As a result, the change in monetary policy will send more people back to risky assets like cryptocurrencies and stocks.The other reason why Solana and other cryptocurrencies are rising is the upcoming bank earnings season that will start on Friday. Expectations are that many large banks like Bank of America and JP Morgan had a good quarter as deposits rose.However, for many regional banks, there is a likelihood that their businesses slowed after the collapse of Silicon Valley Bank and Signature Bank. During the banking crisis, we saw cryptocurrencies and gold do well as traders took them as safe havens.Meanwhile, Solana seems to be gaining traction in the past few weeks. The most recent big news was that Render Network decided to migrate to the network. This is a notable event since Render is one of the top projects in the industry. Helium, a blockchain broadband project has also moved to Solana.Solana’s DeFi ecosystem is also recovering. Its total value locked (TVL) in DeFi has risen to S14.1 million from its year-to-date low of S11.8 million.Solana price predictionMediaThe 4H chart shows that the SOL price has been in a bullish trend in the past few days. It managed to move above the important resistance at $21.66, the highest point since March 30th. The coin has jumped above the 25-period an 50-period moving averages while the MACD has jumped above the neutral point.Therefore, there is a likelihood that the coin will continue rising as buyers target the next resistance level at $25.How to buy SolanaeToroeToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.Buy SOL with eToro today Disclaimer PublicPublic is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.Buy SOL with Public today Disclaimer The post Here’s why Solana price just made a bullish breakout appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/g6jxRGW

Conflux price spiked 15% after Binance announced support for the CFX mainnet.The CFX outlook on the 4-hour chart shows price recently broke out of a symmetrical pattern.The RSI is trending in overbought territory, which could see CFX price fall.Conflux price is up nearly 15% today after the cryptocurrency’s massive network activity in recent weeks. The coin’s sharp gains add to a bullish outlook for a coin that experienced a parabolic increase in the value of the native CFX token.After trading to lows of $0.029 in late January following the brutal 2022 bear market, CFX price rose to top $0.47 in March. While prices have recently been sideways as the broader market waded in negative sentiment, the latest upside coincides with a major boost for the coin from crypto exchange Binance.CFX/USD is also rallying at a time the crypto market cap has jumped over 4% in the past 24 hours amid Bitcoin price breaking above $30,000. Major altcoins rallied on Tuesday as Ethereum broke above $1,900 as ETH bulls eyed the psychological $2,000 level ahead of the highly anticipated Shanghai upgrade.Why CFX price jumped 15% todayConflux is a top layer 1 blockchain platform that’s regulatory compliant in China. The platform has recently made huge steps in its development roadmap, signaling further network growth with key partnerships, including with China Telecom, DeFi protocols platform dForce, and blockchain game platform Samurai.On Tuesday, the world’s largest cryptocurrency exchange by trading volume Binance announced it would support Conflux’s mainnet integration. With the support, Binance will add deposits and withdrawals for the CFX tokens. Users can access the tokens through Conflux eSpace, Conflux Core Space and the BNB Smart Chain.CFX reacted to the Binance news with a sharp price increase. CFX price predictionConflux price recently broke out of a symmetrical triangle pattern. However, the sharp rise to the multi-week highs of $0.45, sellers appear to be returning as the 4-hour RSI suggests CFX is overbought.MediaConflux price movement on the 4-hour chart. Source: TradingViewThe 4-hour MACD indicator shows bulls remain in a strong position though and likely selling pressure as investors take profits could see CFX/USD rely on a new support level at the previous hurdle of the symmetrical triangle resistance trendline.In the short term, a bullish outlook for Conflux price will remain in place if buyers consolidate gains above $0.42. If not, then bears can target fresh moves below $0.40, with $0.36 providing the primary support level.The post Conflux price prediction: CFX outlook after 15% spike today appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/FD7omaM

Potomac Falls, United States, April 11th, 2023, ChainwireAsh Environmental DAO has announced the dates of its token sale. The event will run from April 17 to May 7, giving participants the chance to purchase the Ash token and become part of a global ecosystem committed to funding high-impact innovations to address real-world challenges.The Ash Environmental DAO is a solution platform that seeks to address global challenges such as access to financing for environmentally-friendly innovations, environmental degradation, job losses, diminishing economic development, and poverty. The Ash token is a digital asset within the Ash Environmental DAO ecosystem that is registered in the United States and aims to tackle these pressing issues through active engagement and collaboration with the global community.Born out of the need to find alternative solutions for funding high-impact initiatives, Ash is a governance token and unit of an exchange that operates as a BEP20 on BNB Smart Chain. Its creators conceived the idea as they struggled to commercialize innovations for coal ash recycling and greenhouse gas emissions capture. They faced numerous hurdles in raising capital and encountered stakeholders who dismissed their passion for environmental improvement and local, regional, national and global economic development initiatives.The Ash team is driven by the belief that the environmental challenges faced by today’s generation must inspire a collective desire to make a lasting difference. They invite the global community to join them in their journey by offering encouragement, support, and active participation.Visit www.ashtoken.io to join the Ash team as they strive to restore the health of the global environment while creating jobs or email the team directly at: staff@ashtoken.ioAbout Ash TokenAsh Token avails to the global community, a platform that has the demonstrated ability to foster environmental accountability, business and project financing and job creation. It is a project that has true utility and purpose and which stands to readily translate the benefits of blockchain to the ordinary person. The Ash Token additionally serves as a common platform around which, the global community can rally to deal with the pressing environmental and economic challenges of our time.ContactCEO, Ato Andoh, Ash Environmental DAO/Ash Token, staff@ashtoken.ioThe post Ash Environmental DAO Announces Ash Token Sale to Champion Social Good appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/4mPr3pz

AltSignals has announced a presale for the utility token ASI that unlocks next-gen AI trading insightsThe popular platform has more than 52,000 users and boasts incredible reviewsThe ASI presale looks set to be one of the best investment opportunities of 2023The crypto world seems to have found a favored method to exchange ideas, having chosen instant messenger service Telegram for its communication needs. It often means that the earliest chance to spot top-notch crypto presale opportunities is across the application.Investors paying attention are currently witnessing the wave of excitement rippling across Telegram due to the upcoming AltSignals crypto presale announcement. Many within the space see the presale as a rare opportunity to glean huge profits thanks to the project’s strong proposition and important ability to leverage its huge community of users. AltSignals boasts more than 50,000 crypto traders among its user base and has built its extensive community on the strength of its product offerings. This established base, alongside a heavily discounted presale on a token backed by a hugely successful product, are solid reasons contributing to the excitement, with ASI in future enabling access to ActualizeAI — the next evolution in premium signals.What is AltSignals?<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_investmentopportunity&utm_content=as_members_launch&utm_id=93">AltSignals</a> has built its reputation on providing extremely high-quality trading signals across daily crypto trades, Binance futures, Forex, CFD and shares. Perhaps the clearest indicator of just how strongly its customer base values the user experience is AltSignals’ Trustpilot rating, with over 500 ‘Excellent’ ratings and an overall rating of 4.9/5.Having built up a devoted community of more than 50,000 users since its launch in 2017, AltSignals has established itself as a leader in helping all levels of traders make profits every day with incredible results thanks to guidance from the platform.AltSignals is building an indicator tool known as ActualizeAI, which will be using advanced AI leveraging natural language processing and sentiment analysis to constantly scan the markets to find machine-learning-driven trading opportunities. These can then be communicated as rapidly as possible to traders, giving them a vital edge on the competition and allowing them to maximize their profits as a result.The signal success rates speak for themselves, with AltSignals technology delivering a 70-83% success rate on ETH and BTC trades. This success rate is critical proof explaining the huge popularity of the platform and means that the ASI presale is likely destined for similar success.How does AltSignals work? AltSignals leverages both fundamental analysis and technical analysis in order to provide a complete data set to the advanced algorithms used to identify trades. With the addition of machine learning, its pattern recognition will be virtually unrivaled, helping drive the massive successes seen to date.The current technology, AltAlgo™, has provided incredible results for traders and has solidified the position of AltSignals as a market leader in profit-maximizing trading signals across a range of different markets. This has enabled countless traders to beat the competition and get the most out of their trades.This proven technology has served more than 3,700 crucial signals to traders, and with learning materials and coaching to support traders of all levels, AltSignals may be one of the largest collaborations of accomplished crypto traders out there — hence the excitement for the next stage of product development.The ASI presale also marks the launch of the ActualizeAI Club, where token holders can use their ASI tokens to sign up to receive exclusive beta access to all new releases. Offering a valuable outlet, the group serves to keep savvy traders ahead of the markets. Joining and participating in the group also provides users with…

Key TakeawaysBitcoin has broken $30,000 for the first time since June 2022Volatility is also at its highest point since JuneLiquidity is the lowest it has been all year, meaning less is needed to move Bitcoin up (and down)45% of stablecoins have fled exchanges in last four months, with market depth has not recovered from Alameda bankruptcy in NovemberInterest rate forecasts have flipped, providing positive impetus as market bets tight monetary policy is coming to an endLow liquidity and positive interest rate expectations have kicked Bitcoin up past $30KWeek ahead brings data on inflation, Fed minutes and earnings, and Bitcoin could move violently again depending on how it shakes outThrow a mask on and stay beyond a 2-metre radius, because it feels like 2021 again. At least, looking at the cryptocurrency market, that is. <a href="https://coinjournal.net/bitcoin/">Bitcoin</a> has turned back the years to rally to its highest price since last summer, despite the economy feeling like it’s falling down all around us. $30,000 has officially been breached. Not only is the price at its highest point in ten months, but the volatility and profits have also ramped up to the highest points since before the house of cards all came down, while the supply on the market is dwindling.But why? And will all this continue or will Bitcoin fall back down to Earth? Let’s dig into the data to see if there is an answer. PriceFirst, what makes the headlines pop: the price.  Bitcoin breached $30,000 Monday evening for the first time since June 2022. To refresh the memory, that was the week of the Celsius crash, the crypto lender announcing on June 12th 2022 that it was suspending withdrawals, having been caught up in the LUNA contagion. Billions of customer assets were locked, and the Bitcoin price spiralled downwards, dropping below $30,000, and then $20,000, in the days afterwards. Monday was the first time it has taken back the $30,000 mark. The key to this resurgence? Interest rate forecasts, primarily (but not just interest rates…as we will get into in the next section). The forecast of the future path of interest rates has completely flipped in the last month or so, providing impetus for this leg up in Bitcoin as the market bets that we are finally ready to pivot off the aggressive hiking of rates that has been ongoing since last April. Last year’s transition to a new paradigm of tight monetary policy signalled an abrupt end to the decade-long bull market across financial markets, pulling risk assets down in price across the board. Crypto didn’t help its case with several scandals along the way – LUNA, Celsius and FTX to name a few – but the macro conditions have certainly not been kind either, with the Nasdaq shedding a third of its value last year, its worst return since 2008. But following the banking collapse, the market is betting that the Fed simply cannot continue with the interest rate forecasts going forward. The below chart shows interest rate expectations for the July meeting – the right side shows the forecast from six weeks ago, which has completely flipped compared to the forecast today (purple bars on the left). Volatility But it’s not just the price that is rising. Volatility is also at its highest point since it picked up following the collapse of Celsius last June. The below chart shows this, and then we will see why this is not a coincidence that it is coinciding with a relentless price rise. The elevated volatility is a direct consequence of the liquidity being so low. I crafted together a deep dive on this <a href="https://coinjournal.net/news/45-of-stablecoin-balance-has-left-crypto-exchanges-in-4-months-but-where-has-all-the-money-gone-a-deep-dive/">two weeks ago</a>, but liquidity in cryptocurrency markets is as low as it has been all year. 45% of the stablecoin balance on exchanges has fled in the last four months, with the resultant balance the lowest since October 2021. This is matched by market depth dropping down too, yet to recover from the evaporation of Alameda…

Investors have long been attracted to the crypto markets for their innate profitability. In fact, cryptocurrency is the most lucrative asset class ever to exist, owing to the speculative nature of blockchain technology and its disruptive capabilities.The AltSignals crypto platform has long been helping traders maximize investment returns through automated trading signals. As the crypto platform expands, it is expected to revolutionize the process of trading thanks to an AI-powered toolkit that forecasts crypto market volatility.Crypto platform AltSignals is making great strides in the field of automated tradingAutomated trading signals have attracted significant interest over recent years, as algorithmic tools such as AltAlgo™ have helped traders of all skill levels maximize investment returns. JP Morgan reported in 2020 that more than 60% of trades worth over $10 million were executed by automated trading tools and recently stated that <a href="https://www.bloomberg.com/news/articles/2023-02-01/traders-see-ai-technology-shaping-their-future-jpmorgan-finds">AI could disrupt the financial markets</a>.AltAlgo™ is the proprietary trading tool released by AltSignals, a crypto platform expanding its blockchain offering to include a new automated trading protocol that is powered by artificial intelligence. Automated trading tools can help institutional and retail investors by condensing complex data into a single buy or sell signal with unrivaled accuracy. AltSignals’ token ASI is now available during its presale. ASI was initially made available at $0.012 and is scheduled to rise to $0.02274 by the final stage of investment. The token will power the crypto platform’s new blockchain services, including a new-and-improved automated trading tool called ActualizeAI.What is AltSignals?<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_currentevents&news&utm_content=as_members_launch&utm_id=98">AltSignals</a> has shared profitable trading signals with 50,000 community members since it launched in 2017. The crypto platform is specially designed to help traders navigate market volatility – AltAlgo™ has consistently had over 70% accuracy since it first launched and helped traders who matched its trades to 10x their portfolio in 19 separate months.The crypto platform’s new automated trading stack, ActualizeAI, is expected to further optimize the accuracy rate of AltSignals’ existing tools. ActualizeAI leverages machine learning capabilities to continually improve the frequency and accuracy of automated trading signals, which could revolutionize how people trade the crypto markets.ActualizeAI is set to analyze vast amounts of market data, including sentiment levels, and provides automated trading signals directly to its users. AltSignals has a proven track record for success that goes back over 5 years, which has led to great excitement surrounding the project’s new AI-based development.How does ASI work?<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_currentevents&news&utm_content=as_members_launch&utm_id=98">The ASI token</a> is used to provide access to ActualizeAI. Holders can also stake ASI tokens on the AltSignals platform to earn a passive yield on their long-term investment. They can also vote on governance proposals for new community-led initiatives.Token holders will also gain access to the  AI Members Club, providing a host of new benefits for the crypto platform’s users. Among these benefits are early-stage crypto investment opportunities, where traders can buy into up-and-coming Web3 projects during their earliest fundraising rounds.The AI Members Club will also host trading tournaments where traders can compete for the chance to win significant crypto prizes. The club will also allow members to test out new automated trading tools before they are officially released, which can help give users an advantage over other market participants.Can ASI reach…

Andreessen Horowitz (a16z) has released its second edition of the State of Crypto report.According to the venture capital firm, the crypto industry has steadily grown over the years, even as prices flactuate.a16z has also unveiled the “State of Crypto Index,” a tool to help track the health of the crypto industry.Andreessen Horowitz (a16z), a leading venture capital firm that backs some of the best projects in the emerging technologies industry, has released its latest “State of Crypto report”.The Silicon Valley based VC giant says in the report that the cryptocurrency sector is healthier than what the prevailing market prices suggest.The report also notes that cryptocurrency prices have been characterised by periods of massive gains and then crypto winters. Commeting on this, a16z researchers Daren Matsuoka, Eddy Lazzarin, Robert Hackett and Stephanie Zinn wrote:“In the period marked by our now-annual State of Crypto report, it would be easy for a casual observer to overlook the rapid progress the crypto industry is making. Major infrastructure improvements like The Merge – a momentous achievement in decentralized and open source development – simply don’t make headlines as often as high-profile bankruptcies, busts, and flameouts.”Crypto “healthier” than the story prices tella16z’s second report comes after a period of turbulence for crypto in 2022, with the collapse of cryptocurrency exchange FTX the low point for the industry in terms of its impact as a setback.Crypto prices tumbled towards the end of the year before making a decent recovery in the first quarter of 2023. Of this aspect, the Andreessen Horowitz report says it is easy to miss the point when it comes to overall development across the industry.In particular, the researchers highlight Web3 technology at the latest intersection of this trajectory.“Our 2023 report aims to address the imbalance between the noise of fleeting price movements – and the data that tracks the signals that matter, including the durable progress of web3 technology. Overall, the report reflects a healthier industry than market prices may indicate, and a steady cycle of development, product launches, and ongoing innovation,” the report states.a16z also announced the “State of Crypto Index,” which it says is an interactive tool that will help people “track the health of the crypto industry.” According to the VC firm, the tool focuses on innovation and technological advances, rather than on the financial aspect of the industry.The index will provide a nuanced measure of what crypto development entails, looking at 14 industry metrics, including total verified smart contracts, active addresses, DEX volume, transacting wallets and active developers among others.The post Crypto industry “healthier” than what market prices indicate: a16z report appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/Bt3Z6b5

BTC rising 50% has produced a recovery in the crypto marketAltSignals (ASI) is a highly promising new token launchASI should outperform BTC percentage rise over the coming months and yearsAfter some significant movements in the crypto markets, the Bitcoin price prediction forecasts further upside. However, experts suggest that AltSignals’ new token, ASI, should outperform the Bitcoin price prediction in percentage terms before the end of the year.<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_priceprediction&utm_content=as_members_launch&utm_id=104">AltSignals</a> is an industry-grade trading platform that is expanding its blockchain offering. Here’s why it could be the highest-performing project of its kind in 2023 and beyond.AltSignals is launching during a widespread market recoveryThe Bitcoin price prediction has flipped bullish after some promising price action at the beginning of 2023. BTC has risen over 50% from its recent lows and has been driving a recovery in the crypto market.After many altcoins fell over 90%, the BTC recovery has produced widespread gains across the crypto market. This comes at a time when AltSignals, a highly successful crypto trading community, is launching its crypto presale event.The ASI token has a high potential for future returns, especially as the crypto market recovers following a positive Bitcoin price prediction. A BTC recovery typically signals the beginning of bullish crypto market movements, and ASI is well-positioned to benefit over the coming months and years.What is Bitcoin?Bitcoin (BTC) is the first blockchain-based cryptocurrency. The Bitcoin blockchain uses a <a href="https://www.forbes.com/advisor/investing/cryptocurrency/proof-of-work/">proof-of-work</a> protocol to achieve consensus in a distributed computer network. This process is highly complex by design, and the economic costs of overriding the consensus mechanism make attacking the BTC network practically impossible.Since it was first launched in 2009, BTC has become the largest cryptocurrency by market capitalization and has been adopted by governments and financial institutions worldwide. The rate of progress for the Bitcoin price prediction is a testament to its innate scarcity – there will only ever be 21 million BTC, which means that constantly rising demand is destined to push the price upwards.Bitcoin price prediction: Can BTC reach over $30,000 in 2023?The Bitcoin price prediction for 2023 targets $30,000 as a key level. If BTC can break through resistance at $29,000, then it is likely to reach $30,000 and above before the end of the year.What is AltSignals?<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_priceprediction&utm_content=as_members_launch&utm_id=104">AltSignals</a> is one of the largest crypto market trading communities in Web3. The platform has consistently provided profitable trading signals to its users since 2017 and has an impressive track record for success. For example, the Binance Futures Report for Feb 2023 has shown a win rate of 90%.The project is now expanding its offering and will introduce several useful features to its community of crypto market traders. The ASI token, which is being released at $0.012 during the presale, is integral to this development.How will the ecosystem utilize ASI?The ASI token will give holders exclusive access to premium trading signals in the crypto market using ActualizeAI. ActualizeAI is a groundbreaking AI-powered development tool that combines several leading technologies with crypto market data. After analyzing a wide variety of different indicators, ActualizeAI will generate profitable trading signals on a consistent basis.ASI can be used to access the AI Members Club. This premium offering will grant early participation in AltSignals’ new trading tools. With massive profits already being made through AltSignals’ AI tools, this feature can give traders a real edge in the…

The temporary halt is planned to take only one hour.The halt is related to tomorrow’s Ethereum Shapella upgrade.The affected tokens are mainly ERC-20 tokens.Seychelles-based crypto exchange OKX has announced it will be temporarily suspending deposits and withdrawals of ETH, ARB, OP, and ERC-20 tokens because of the upcoming Ethereum Shapella upgrade.The Shapella upgrade is scheduled to take place on April 12at epoch 194,048 at approximately 10:27 PM (UTC)The temporary deposit and withdrawal haltOKX said that deposits and withdrawals of the said tokens will be temporarily suspended on the crypto exchange for about one hour on April 12, 2023, at 9:30 p.m. UTC. The suspension will be in force until the Shapella upgrade is completed.Besides, OKX Interoperability platform Wanchain said that its WanBridge frontend would be temporarily inaccessible starting at 10 PM UTC on April 12. Binance will also temporarily suspend deposits and withdrawals of ETH, OP, ARB and ERC-20 tokens via the Ethereum, Optimism, and Arbitrum networks, starting on April 12 at 10:20 PM (UTC).Ethereum Shapella upgrade“Shapella” is a derived upgrade name (Shanghai + Capella) to suggest two layers of the blockchain are being upgraded simultaneously. It is the first Ethereum network upgrade since The Merge upgrade.The Shanghai upgrade will deploy changes to the Execution Layer while the Capella upgrade will bring some spec changes to the Consensus Layer. The upgrade will deploy EIP-4895 on the Execution clients to allow for the Withdrawal of staked ETH for Ethereum validators along with three other EIPs deployed on the mainnet.The post OKX to temporarily halt deposits and withdrawals of some tokens on April 12 appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/r2gdcP9

H.C. Wainwright reiterates CleanSpark Inc its top pick for 2023.Analyst Mike Colonnese explained why in a research note today.CleanSpark stock is already up more than 50% for the year.Shares of CleanSpark Inc (NASDAQ: CLSK) are up nearly 15% this morning after an H.C. Wainwright analyst named the bitcoin miner his top pick for 2023.CleanSpark stock could quadruple from hereOn Tuesday, Mike Colonnese reiterated his “buy” rating on the crypto company and said its shares could climb to $12 – about a 300% upside from here.The bullish call on Clean Spark stock arrives only hours after it revealed to have bought 45,000 new Antminer S19 XPs from Bitmain for about $145 million.CLSK secured machines for a very attractive $23/TH, the lowest we’ve seen for these rigs, and 12% below the going rate for high efficiency ASICs based on Luxor’s Bitcoin ASIC Price Index.With this purchase, the analyst added, CleanSpark will be able to improve its hash rate to 16 EH/s in line with the company’s year-end target.CleanSpark stock is significantly undervaluedCleanSpark is expected to report its Q2 financial results next month. Consensus is for it to lose 37 cents a share this quarter versus 5 cents of EPS a year ago.For the year, CleanSpark stock is up more than 50% at writing. Still, Colonnese is convinced that it’s significantly undervalued. His research note reads:It’s trading at 46% discount to peers on market cap to deployed hash rate, which we view as unwarranted. Today’s announcement should give investors more visibility and conviction into CLSK.In terms of fleet efficiency, CleanSpark is ahead of everyone else in the industry following today’s deal with Bitmain, the analyst concluded.The post Bitcoin miner stock CleanSpark has upside to $12, analyst says appeared first on CoinJournal.

via CoinJournal: Latest Bitcoin, Ethereum & Crypto News https://ift.tt/F9EW48H