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.

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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.

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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.

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Key takeawaysEthereum’s Shanghai upgrade is slated for April 12thFor the first time, users will be able to unstake their ETHThere is currently 17.7 million ETH locked up, equivalent to 15% of the entire supplySome users have had their ETH locked up since December 2020, when it traded at Ethereum has its next major event lined up, referred to as the Shanghai upgrade. But what actually is it? And when is it going to happen?Well, the when is the easiest part. After much anticipation, the event is slated to occur Wednesday (April 12th). As for what it is, the headline development is that staked ETH will finally be able to be unstaked and sold. Since the Merge upgrade went live in September 2022, Ethereum has been a proof-of-stake blockchain. However, staked Ethereum has still been locked up…until now. Once the Shanghai upgrade goes live, users are free to do what they wish with their ETH. While the Merge only took place seven months ago, stakers had been locking up their ETH in the staking contract long before. Staking actually opened in November 2020, with the Merge repeatedly delayed until finally taking place in September. How much Ethereum will be released?Finally, the Merge went live in September, but the full transition to proof-of-stake was not yet completed. This means the ETH locked up has continued to grow and today there is 17.7 million ETH locked up, translating to <a href="https://coinjournal.net/news/15-of-the-ethereum-supply-is-about-to-be-released-ethereum-shanghai-upgrade-imminent/">15%</a> of the entire supply. It has been a long wait for some investors. The price of Ethereum was below $400 in December 2020, before going bananas in 2021 as the crypto boom send prices vertical. It climbed as high as $4,800, only to crash down below $1,000 again as prices cratered during the bear of market. And through all this time, the ETH has just been…there. Locked up and restricted from sale. Liquid staking derivativesAlthough investors did have options. Many utilised liquid staking derivatives, which means that they received tokens in lieu of their staked ETH. They could then trade these tokens, which because they will be redeemable for ETH once unlocked, theoretically (and largely in practice, too) traded pretty close to 1:1 with ETH. So while the previous chart paints a rollercoaster of emotions as ETH skyrocketed during the pandemic boom before freefalling back down, not all investors were forced to ride that rollercoaster. Will there be sale pressure on ETH?The presence of staking derivatives means that the event will be less climatic, at least in terms of sell pressure. However, it remains true that ETH will still be easier to sell, and there is nothing to say that investors won’t withdraw and sell their ETH directly once they can. Then again, there is nothing to say this <em>will </em>happen either. Like many things in markets, it comes back to the concept of being “priced in”. This event is not a surprise, and hence the pressure will likely not be heavy in either direction. Of course, a bit of irrationality is not exactly rare in crypto markets, so perhaps there will be some movement. But again, this is a move which has been coming for a long time – it just formally has a date now. Macro environment will hold the keyWhile the event is key for the fundamentals and long-term future of Ethereum, when looking at the price action specifically, macro remains the most pivotal factor, and the reason that crypto prices have surged upwards thus far in 2023. ETH will continue to trade in line with the wider market. This in turn depends largely on the future path of interest rates and the sentiment in financial markets. 2023 has thus far seen a complete flip in expectations of interest rates, with the market pricing in an end to the uber-tight monetary policy which has been in place for the last year. This has helped propel crypto prices north, with Ethereum up 58% this year. However, price is impossible to forecast, especially in the short-term. But looking beyond the number…

El Salvador was the first country to pass Bitcoin as a legal tender.El Salvador‘s Legislative Assembly established a framework for the country to issue Bitcoin-backed bonds.Bitfinex is the first international crypto exchange to be approved under El Salvador’s new Digital Assets Issuance Law.Bitfinex Securities El Salvador, the Bitfinex branch in El Salvador, has become the world’s first international cryptocurrency exchange to receive approval and get licensed as a Digital Asset Service Provider under El Salvador’s ground-breaking new Digital Assets Issuance Law (“Ley de Emisión de Activos Digitales”).Bitfinex received the new license from El Salvador’s National Digital Asset Commission and it marks a significant milestone for the crypto exchange. It is a step in Bitfinex’s long-term strategy to deliver financial freedom and inclusion to communities and countries around the world, as outlined in the Bitfinex Freedom Manifesto.The Chief Technology Officer of the Bitfinex group commenting on the new license said:“We are delighted to be the first company to be awarded this license. It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime. It means that a whole range of entities, from small companies to governments, can raise capital in a regulated environment, and tap into a class of investors that are extremely comfortable with crypto assets and tokenized securities, which represents a market of over $1 trillion with a peak of $3 trillion.”The new crypto law in El SalvadorThe new Digital Asset Issuance Law in El Salvador was passed by El Salvador’s National Congress in January 2023 and it aims to foster increased financial innovation and growth in the Central American country.The new El Salvador crypto laws established a framework for the country to issue Bitcoin-backed bonds, which are also referred to as “Volcano Bonds”.The post Bitfinex gets license to operate under El Salvador’s new crypto Law appeared first on CoinJournal.

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Key takeawaysA Hong Kong regulator has revealed that DeFi projects could be subject to regulatory requirements.The SFC said DeFi activities fall within the scope of the Securities and Futures Ordinance.Hong Kong’s new licensing regime for digital asset trading platforms takes effect in June 2023DeFi projects could face regulatory requirements in Hong KongKeith Choy, interim head of intermediaries at Hong Kong’s Securities and Futures Commission (SFC), revealed on Wednesday, April 12th, that decentralised finance (DeFi) projects could face licencing requirements and regulation in the country. According to the SFC, DeFi activities fall within the scope of the Securities and Futures Ordinance and will be subject to the same regulatory requirements as traditional finance (TradFi). Choy mentioned this while speaking at the Web3 Festival in Hong Kong. This latest cryptocurrency news comes after the United States and France recently published reports on DeFi regulation. Choy’s speech doesn’t come as a surprise, as the SFC has previously pointed out that the DeFi ecosystem is in need of regulation. However, the regulatory agency is yet to lay out its plans on how to properly regulate the ecosystem. Choy said;“Providing automated trading services is a regulated activity under the SFO. If a decentralized platform allows trading in virtual assets, which constitutes securities or futures as defined under the SFO, the platform and operators are required to have a Type 7 license.”Collective investment schemes also need authorisationThe SFC pointed out that authorisation requirements are also necessary when companies wish to offer a collective investment scheme to the public in Hong KongAccording to Choy, DeFi presents regulatory agencies with issues, including financial stability and limited transparency, resulting from a lack of data and unregulated firms and activities. He also discussed market integrity issues like price oracle manipulation, front-running transactions and investor protection concerns.Hong Kong is one of the leading crypto hubs in the world. In February, Interactive Brokers launched its crypto trading services in Hong Kong. Hong Kong’s new licensing regime for digital asset trading platforms is set to come into effect in June 2023.The post DeFi projects could face regulatory requirements, says Hong Kong regulator appeared first on CoinJournal.

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The cryptocurrency market remains resilient despite a wave of bad news in 2022Bitcoin trades above $30k, up 80% YTDHODL seems to be the secret of Bitcoin’s success as Bitcoin hoarding in personal wallets rises2022 has been a terrible bear market for cryptocurrency investors since November 2021. Bitcoin, the leading cryptocurrency, dropped from $69k to $15.5k in a matter of months.Other cryptocurrencies followed.Over the last year, the industry was hit by a wave of negative news. Just think of the FTX collapse, which turns out to be the largest fraud in recent history.Also, the $2 trillion bear market was the largest in the (relatively short) cryptocurrency market’s history. Moreover, multiple crypto lender bankruptcies have been announced.Finally, over 300 lawsuits and regulation cases scared investors away.Yet, the market bounced. It is incredibly resilient, rewarding investors believing in it. For instance, Bitcoin trades above $30k, up +80% YTD.Bitcoin hoarding in personal wallets is a positive signRecent research from the Bank of America shows positive developments for the cryptocurrency industry. HODL seems to be the secret of Bitcoin’s success. According to the research, hoarding in personal digital asset wallets increased after Bitcoin’s price jumped above $30k.MediaThis is nothing short of impressive, considering that Bitcoin was released less than two decades ago. To put it into context, one Bitcoin was priced at 5 cents in 2010.It tells much about the cryptocurrency market’s volatility and that booms, busts, mania, and despair are the norm.The post Should you invest in cryptocurrencies as they bounced from the 2022 lows? appeared first on CoinJournal.

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REN price fell to lows of $0.94 after Ren Protocol announced the transfer of all crypto assets to FTX debtor wallet.Ren says all assets will be sent to cold storage wallets belonging to the debtor.FTX/Alameda acquired Ren, a cross chain bridge protocol, in February 2022.The price of REN (REN) fell sharply on Wednesday morning after Ren Protocol announced it would be transferring all of its assets to the FTX debtor’s wallet.As the broader market traded cautiously amid wider anticipation of economic data later in the day, REN holders were spooked into heavy selling. REN price nosedived from above $0.10 to lows of $0.94, shedding nearly 12% of its value against the US dollar.The sharp declines were accompanied by huge sellside volume, with data from CoinGecko showing daily trading volume had spiked by more than 45%.REN price nosedives on major FTX-related Ren announcementRen Protocol is a cross-chain bridge that FTX, through its subsidiary Alameda Research, acquired in February 2022. Following the collapse of the Sam Bankman-Fried led crypto exchange last November, the platform’s assets moved to the debtors’ amid the ongoing bankruptcy proceedings.Now the Ren Protocol team says the FTX “Debtor” has asked them to transfer all crypto assets it holds to cold storage wallets controlled by the debtors. The platform noted that the transfers are meant to help secure the cryptocurrencies ahead of any possible shutdowns of infrastructure and systems related to FTX.pic.twitter.com/KndTzULW5B— Ren (@renprotocol) April 12, 2023Ren will send the cryptocurrency to segregated wallets, with assets moved from bridge protocol stored separately from other assets secured by the Debtor.In December, Ren announced that its v.1.0 remained operational after the FTX/Alameda debacle. However, the team recognised the network could go offline and urged holders of Ren assets to bridge back to the native chains.2) Due to this not being in our control, it is advised for anyone still holding Ren assets to bridge those assets back to their respective native chains.This can be done here: https://t.co/5rq7H5zuV1— Ren (@renprotocol) December 20, 2022While the REN/USD pair has clawed back a little, the token remains vulnerable to further downside. However, buyers are battling to keep the support zone near $0.98. Some REN holders are also looking at the dip as an opportunity to buy low, pointing to the promise of Ren v.2.0.The post REN price dips after major Ren Protocol announcement appeared first on CoinJournal.

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Riot Blockchain stock price has done well this year as Bitcoin prices jump. The shares jumped to a high of $10.62 on Wednesday, the highest point since April last year. In all, the stock has jumped by more than 284% from the lowest point since November last year.Bitcoin price boosts minersThe main catalyst for the strong Riot Blockchain comeback is the strong performance of Bitcoin and other cryptocurrencies. BTC has jumped by more than 80% in 2023, making it one of the best-performing major assets in the world.Like other mining companies, Bitcoin miners do well when cryptocurrencies are rising. And now, analysts believe that crypto prices will continue rising in the coming months. Bullish bets that BTC will retest its all-time high have increased. The main reason for this optimism is the expectation that Fed will change its tune on interest rates. The bank has already hiked by 475 basis points in the past few months and analysts expect that it will hike by 0.25% in May. But the Fed will not hike forever, which explains why the US dollar index and bond yields have slipped.Needham upgrades Riot BlockchainThe other reason why Riot stock price jumped is that analysts have turned bullish on the stock. On Wednesday, analysts at Needham upgraded the stock to $15, which is a 30% upside from the currrent level.  Their previous estimate was $9.The analysts cited the company’s mining data and the fact that Bitcoin has jumped sharply this year.Other analysts have a positive rating on the stock. In March, Cantor Fitzgerald reiterated their outlook for the stock to $10. B.Riley and MKM Partners are also bullish on the stock.Therefore, a combination of higher Bitcoin prices, the potential for rate pause, and increased mine production could push the stock higher. In March, the company’s mine production jumped by 36% on a year-on-year basis.Riot Blockchain stock price forecastMediaThe daily chart shows that the RIOT stock price has done well in the past few days. It managed to move above the key resistance point at $10.52, the highest point on August 11. Most importantly, a golden cross is about to form as the 50-day and 200-day moving averages near their crossover. Therefore, the stock will likely continue rising as buyers target the next reference level at $15.How to buy BitcoineToroeToro 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 BTC 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 BTC with Public today Disclaimer The post Riot Blockchain stock receives an upgrade as golden cross nears appeared first on CoinJournal.

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Singapore, Singapore, April 12th, 2023, ChainwireFamed Developers of Iconic Game Franchises, Mega Man and Tekken to Serve as Inaugural Legends DAO Partners with Their Original IPs, BEASTROID and BRAIN FIGHTER, on a New Platform<a href="https://minnapad.com/">Minnapad</a>, a create-to-earn DAO launchpad and NFT marketplace that provides access to renowned Japanese creators, announced the first two DAOs in a series planned for this year. The inaugural kick-off will be in partnership with two game creators, allowing fans to collaboratively create legendary DAO projects and have ownership of exciting new IPs from their respective heroes. The first DAO will be in partnership with Keiji Inafune, and debut the new IP BEASTROID in video games, comics, anime and physical mediums, in addition to NFT collections. Minnapad will then launch BRAIN FIGHTER, an IP with warriors controlled with brain waves, with Seiichi Ishii who pioneered the 3D fighting game genre through his work on Tekken and Virtua Fighter. Both are scheduled for Q2 2023.Mr. Inafune is best known for giving the Mega Man franchise its distinctive visual style and producing several titles during his tenure at Capcom. Mr. Inafune is utilizing his love of creating new IP to fuel his new project. Mr. Inafune’s DAO aims to offer original characters built around a compelling post-apocalyptic world where humans fight for survival. Mechanized animal creatures called “BEASTROID” are humanity’s only hope to reach a safe haven called Paradise. Minnapad and Mr. Inafune have partnered to breathe new life into the initial BEASTROID NFT collection, inviting existing holders to the DAO membership presale and providing utility in the Minnapad ecosystem in the near future. More information about the presale will be shared soon.<a href="https://coinjournal.net/wp-content/uploads/2023/04/1YmiVQH0WQ9QmQ-MJhSPreA_16812716290viFPHuFaE.jpg">Media</a>BEASTROID logo<a href="https://coinjournal.net/wp-content/uploads/2023/04/1holCI2RxzqfOc0zTpOCj6w_1681271628J0r2l7ZhCR.jpg">Media</a>BEASTROID concept art<a href="https://coinjournal.net/wp-content/uploads/2023/04/1cZQkou6tKadjQkDgFBewYg_1681271628SGHjVRDbw3.jpg">Media</a>BEASTROID Team A“Minnapad is doing something new with Japanese content, bringing together the power of many opinions united as one,” said Keiji Inafune, creator of BEASTROID. “It is the perfect platform for BEASTROID to come to life. It’s not simply a game, but we will keep developing it in different ways, together with fellow DAO members. In addition to BEASTROID, I have high hopes many new IPs will be born from this DAO.”<em>Keiji Inafune interview</em>BRAIN FIGHTER is the brainchild of Mr. Ishii, the visionary designer who laid the foundation for modern fighting games through his works including multiple Tekken and Tobal titles, and as co-creator of Virtua Fighter. Mr. Ishii brings his traditional fighting game legacy to a fresh new platform with his next original IP. In this world, small robots called Brain Fighters controlled by people’s brain waves are all the rage. Each person becomes the protagonist of this world, controlling their own Brain Fighters, and battle against others in a tag team style for victory.<a href="https://coinjournal.net/wp-content/uploads/2023/04/1bQUtphxYcJEx_g2Rnu_q2A_1681271628Zg3gNKgyXz.jpg">Media</a>BRAIN FIGHTER logo<a href="https://coinjournal.net/wp-content/uploads/2023/04/11laGkA4ELSgFTlzmMcI63g_1681271628qxU2TaEsM0.jpg">Media</a>BRAIN FIGHTER concept artBRAIN FIGHTER demo movie1BRAIN FIGHTER demo movie2“I’ve been yearning to collaborate with a group of like-minded individuals and enjoy the process of creating games together once again,” said Seiichi Ishii, creator of BRAIN FIGHTER. “The emergence of Web3 and DAO got me excited about the possibility of taking on projects in a different way than before. The BRAIN FIGHTER IP I have envisioned is something that I could never achieve alone, so I hope to work with the Minnapad community — which we call ‘Minna-san’ — to create a truly special new…

At press time, WiFi Map (WIFI) token was trading at $0.07858, up 15.04% in 24 hours.WiFi Map offers participate-to-earn allowing users to earn tokens for adding hotspots, verifying credentials, and running speed tests.The WIFI token has today been listed on three major crypto exchanges in a week.WIFI token, the native token of WiFi hotspot platform WiFi Map, has been surging since Tuesday mainly because of the listing on the cryptocurrency exchange Huobi.WIFI deposits on the exchange started on Tuesday prior to its listing on Wednesday. Huobi traders will be able to trade the WIFI/USDT pair starting today.The Hobi listing is the third huge listing for the token in one week, following OKX and Gate.io listings.What is WiFi Map?WiFi Map is a WiFi hotspot blockchain platform that is powered by the WIFI token, which is an ERC-20 token on Polygon Network.The platform offers a variety of products including an in-app wallet and participate-to-earn opportunities allowing users to earn tokens for adding hotspots, verifying credentials, and running speed tests.It also offers an eSIM cashback allowing users to purchase eSIM data and receive 3–5% instant cashback in WIFI tokens. Users also receive a 15–20% token cashback reward for redeeming $WIFI tokens for eSIM data.WiFi Map also offers Hold-to-earn where users earn eSIM data for holding WIFI tokens.There is also a WiFi Map DAO that allows the WiFi Map community can decide on the best way to grow the ecosystem.The post WIFI token price surging buoyed by major exchange listing appeared first on CoinJournal.

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DigiToads is an exciting new web3 game that lets you collect, nurture and battle Toad NFTs.The DigiToads presale is in the third stage called “Lilypad 3.’Only 3.92% of the current presale stage remains to be claimed.The cryptocurrency world is witnessing yet another explosive presale event with DigiToads (TOADS), a DeFi token whose presale has piqued significant interest among crypto enthusiasts and play-to-earn (P2E) gamers in recent weeks. Like Stepn (GMT) and Aptos (APT), two previous presale success stories, DigiToads has seen a remarkable surge in popularity and investment.The similarities are striking when comparing DigiToads to previous presale success stories such as Stepn (GMT) and Aptos (APT). Just like the two, the DigiToads presale is quickly selling out seeing that its third stage is already 96.08% sold out. You can participate in the presale here.Stepn and Aptos experienced explosive growth during their respective presales, with investors clamouring to get in on the action. Why has DigiToads (TOADS) become so popular?DigiToads (TOADS) aims to bring together the worlds of NFTs, DeFi tokens, and GameFi through its unique platform that allows users to stake their NFTs in exchange for increased rewards while engaging with the platform’s gaming setup.The DigiToads presale event, which is almost coming to an end, offers investors the opportunity to purchase the TOADS altcoin at a low price. At press time, one TOADS token was going for 0.016 USD USDT. So far, the presale has reached Stage 3 of the ten planned stages and has raised a whopping $1 million within weeks.Comparing the DigiToads presale to the Stepn presale?Stepn (GMT) experienced tremendous growth during its presale stage. Stepn is a move-to-earn platform that pays users in either ERC-20 tokens, GMT, or Green Satoshi. Stepn’s presale raked in over $9 million and the price of GMT kept rising throughout the presale period.There are similarities when comparing the TOADS presale with Stepn’s (GMT) presale growth. The numerous elements, including the potential growth in both tokens and the unique features provided by DigiToads (TOADS) and Stepn (GMT), can be blamed for this rapid rise. Plus, they both used similar marketing techniques to draw interest.Comparing Aptos Presale to the DigiToads presaleAptos (APT) is the newest layer one blockchain and it received substantial venture capital backing when it was starting. Many believe this is because it was created by the team responsible for the creation of Meta.Just like the TOADS token price, the price of APT grew significantly throughout its presale which began in October 2022. The Aptos token has experienced substantial growth with its price increasing from $2 to $10 in just a few months.Overall, the DigiToads (TOADS) token growth mirrors that of Aptos making it a cryptocurrency to watch in the coming weeks.Is DigiToads’ TOADS token a good investment?Well, investing in cryptocurrencies comes with a myriad of risks especially since the crypto market is extremely volatile and the fact that there are many scam projects out here.However, despite the many challenges, there are still viable crypto projects that investors can cash in although one has to consider a variety of factors before investing his/her hard-earned money.That said, DigiToads’ TOADS presale could be a good chance for investors to take advantage of the DigiToads projects before it goes mainstream.The TOADS token is a utility-rich token and its price has been rising during the presale. The post DigiToads meteoric presale growth reminiscent of Stepn and Aptos appeared first on CoinJournal.

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AVAX is trading around $18.44 and could rally to $30 with fresh upside momentum.On-chain data shows a jump in social volume and sentiment, suggestng uptick in retail activity.Avalanche recorded a 62% jump in daily active users last week.Avalanche price is up 1.5% at the time of writing, and just over 14% in the past one month. While the token of this Ethereum competitor has not seen a major price uptick compared to some of the top coins by market cap, on-chain data suggests a fresh catalyst is likely to see AVAX/USD soar.Avalanche (AVAX) price- on-chain metrics signal bullish outlookAvalanche, according to one on-chain metric, is flashing signals of a new upward momentum. Santiment, in a brief assessment of the Avalanche social volumes indicator, says current sentiment for this coin has been higher than when AVAX price rose to its year-to-date highs of $21 in February.The increase in social volume as well as positive weighted sentiment for Avalanche during the latest pullback provides for a bullish outlook for the cryptocurrency, Santiment noted.According to the on-chain data platform, AVAX/USD saw “minimal social volume and sentiments were stagnant,” during the run to $21. The difference between then and now is clear in terms of the sharp increase in these metrics.As such, Avalanche is poised for a potential uptick in retail buying, an outlook that could spell a period of sustained gains for the tokens.📈 The latest community insight posted by the #DCXResearch team notes that in February 2023, when the price of #Avalanche reached $21, there was minimal social volume and sentiments were stagnant. However, during the current pullback, there has been a notable increase in both pic.twitter.com/Qb4qD9dt0x— Santiment (@santimentfeed) April 12, 2023“This is an interesting trend, as social volumes have significantly increased, suggesting a potential leading indicator that will be picked up by retail segment in price movement in coming near future,” Santiment noted as it commented on the price movement of AVAX.On 10 April, Web3 platform Token Terminal shared details on Avalanche that showed daily active users on the network had spiked by more than 62% over the past week.Daily active users on @avalancheavax up 62.8% over the past week 📈 pic.twitter.com/dCkoaZuXdP— Token Terminal (@tokenterminal) April 10, 2023Avalanche currently trades around $18.44 and could jump 22% to hit the February peak. The next target would be $30, which would mean a 64% jump from current levels.The post AVAX price outlook: key indicator points to new momentum appeared first on CoinJournal.

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Bitcoin is up again following the U.S. inflation data on Wednesday.Warren Buffett reiterates that BTC doesn’t have any intrinsic value.BTC is currently up a whopping 80% since the start of the year.Bitcoin has climbed a whopping 80% since the start of the year but the “Oracle of Omaha” is still not convinced that it’s an investable asset.Buffett reiterates his view on BitcoinLegendary investor Warren Buffett continues to see the bitcoin as “rat poison squared”. Spending money on it, he reiterated today, is more akin to gambling than investment.Bitcoin is a gambling token and it doesn’t have any intrinsic value, but that doesn’t stop people from wanting to play the roulette wheel.Buffett is one of the most notable critics of cryptocurrencies at large.Interestingly, though, his conglomerate Berkshire Hathaway increased its stake just a day earlier in Sumitomo Corp despite the Japanese trading company’s affiliations with Ripple.Bitcoin is up after the U.S. inflation data todayBitcoin is trading comfortably above the $30,000 level on Wednesday following the update from the U.S. Bureau of Labour Statistics which confirmed that inflation continued to ease in March.And Buffett agreed that there’s no telling when the upside will exhaust. On CNBC’s “Squawk Box”, he said:That’s predicting when speculation will end, when gambling instinct will go away, when more people would want to get out. If I were good at that, I’d make a lot of money in different things.Remember that the total supply of bitcoin is scheduled to have in April or May of next year – an event that’s historically unlocked more upside in BTC.The post Warren Buffett still sees bitcoin as a ‘gambling token’ appeared first on CoinJournal.

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DAIS, a new AI-powered fashion NFT platform that has garnered significant attention and investment since its launch on April 11th. DAIS has already raised more than $100,000 with investors rushing to secure tokens for this viral project. The platform offers users the opportunity to earn income by collecting NFTs and try-on digital fashion. The web3 platform that merges cutting-edge blockchain technology with fashion.The platform’s beta presale of DAIS tokens is currently available at a price of $0.0005, with some experts modeling a 480% increase in price before the final stage begins. The presale will end soon with the IEO to follow afterward.Investors who purchase the DAIS tokens during the beta presale using the promo code GRABDAIS20 will receive a 20% bonus on their tokens. This is a Limited Offer!The digital fashion industry is already worth $500 million and grew by 30% in the last year, and is estimated to reach $4.8 billion by 2031, making it a lucrative market for DAIS to enter. DAIS offers several features that will revolutionize the industry, such as AI-powered design, AR, NFTs, Dex exchange, sustainability, and creator incentives. The platform’s AI-powered design system generates unique and visually appealing fashion designs that cater to various styles and preferences, promoting creativity in fashion design and customization.The use of NFTs on the platform ensures the scarcity, uniqueness, and value of each digital fashion item, offering collectors and investors an alternative to traditional fashion assets. Additionally, focusing on digital fashion reduces the environmental impact of the fashion industry, making it an eco-friendly alternative to traditional fashion consumption.DAIS is also seeking partnerships with luxury brands to conduct sponsored NFT fashion events that will provide merchandise or discounts on NFTs. These partnerships will broaden the reach and appeal of digital fashion and provide additional revenue sources for the platform.DAIS tokens have no vesting period, with almost the entire supply in the hands of the community, ensuring no risk of a rug-pull or scam. The platform’s team has developed robust tokenomics that inspire investor confidence, with 50% of the max 20 billion supply made available in four presale rounds and the final 50% set aside for future Cex exchange listings, burning, marketing, and Dex liquidity.DAIS is poised to revolutionize the digital fashion industry and transform the way we think about fashion and its economic potential.Beginners’ Guide: How to Purchase DAISThe steps below will show beginners how to take part in the DAIS Presale:Step 1 — Download a Crypto WalletInvestors will first need to download a crypto wallet such as MetaMask or Trust Wallet.They are free and can be used either via a browser extension on a PC or via a mobile app.Step 2 — Purchase or Hold ETHInvestors will need to hold some Ethereum (ETH) in their crypto wallet — both to convert into DAIS and to cover Ethereum gas (transaction) fees.ETH can be bought via any trusted crypto exchange or broker and simply transferred into the wallet, or directly on the wallet with both MetaMask and Trust Wallet.Tether (USDT) can also be used to purchase DAIS, but ETH is the simpler choice for beginners as buyers will need to hold some anyway for gas.Step 3 — Connect to DAIS WebsiteOnce ETH (or USDT) is held in the wallet, visit the <a href="https://dais.network/">DAIS website</a> and select ‘Connect Wallet!’That should then allow you to connect and sign in with your crypto wallet.Next, select the relevant ‘Buy With…’ option and input the amount of tokens you wish to purchase or spend (min investment $50, no max) — after confirming, another window will appear where you will need to confirm the ETH gas fee, so leave some over to cover that.Step 4 — Claim DAIS TokensOnce the public presale ends, you’ll be able to claim your purchased DAIS tokens using the claim page. Claim button and updates will be given before the claim goes live with further instructions.Visit <a…

Key takeawaysThe Ethereum network completed the Shanghai upgrade on Wednesday, allowing users to unstake their ETH coins.ETH is up by more than 6% in the last 24 hours and is now trading close to the $2k level for the first time this year.Ether is outperforming the other major cryptocurrencies.Ethereum network completes the Shanghai upgradeThe Ethereum network has completed its long-awaited Shanghai upgrade, ushering in an era of staking withdrawals on the blockchain. The Shanghai hard fork was completed at 22:27 UTC and finalised at about 22:42 UTC. The Ethereum community considers the upgrade a huge milestone as it completes Ethereum’s migration to a proof-of-stake protocol. Thanks to the Shanghai upgrade, Ethereum users can now unstake their ETH coins on the blockchain. During the Shapella Mainnet Watch Party hosted by Ethereum Cat Herders, Vitalik Buterin, the co-founder of the Ethereum blockchain, revealed that the hardest and fastest parts of the Ethereum protocol’s transition are basically over. He added that the Ethereum network will now be focusing on scaling (enabling faster transactions) following this upgrade. Buterin stated that;“If we don’t fix scaling before the next bull run, we know people are going to be stuck paying $500 transactions. If, on the other hand, we don’t have Verkle Trees before the next bull run, well, things might suck, but you know, it’s a much smaller problem than, you know, $500 transactions, right?”Ether closes in on the $2k psychological levelEther, the native coin of the Ethereum network, has been rallying following the Shanghai upgrade. ETH is up by more than 6% in the last 24 hours and is closing in on the $2k level.At press time, the price of Ethereum stands at $1,983, the highest it has reached since August 2022. The technical indicators show that ETH could rally higher in the near term.MediaETH/USDT Chart By TradingView The MACD line is within the positive region, indicating that the bulls are currently in charge of the Ethereum market. The RSI of 74 also shows that Ether could enter the oversold region in the near term.If the bullish trend continues, ETH could break past the $2,031 resistance level over the next few hours. In the event of an extended rally, ETH could trade above the $2,160 level for the first time since May 2022.Where to buy Ethereum noweToroeToro 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 ETH 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 ETH with Public today Disclaimer The post Ether price closes in on $2k following the Shanghai upgrade appeared first on CoinJournal.

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DigiToads presale is 97% sold out in stage 3 as Ethereum price looks to break past the $2,000 mark.Stellar price has also broken higher in the past month, up more than 25%.TOADS is the utility token of the innovative play-to-earn and NFT staking ecosystem DigiToads.Stellar<a href="https://coinjournal.net/ethereum/">Ethereum (ETH)</a> price is poised for a rally above $2,000 after the Shanghai upgrade went live on 12 April. While the top smart contracts blockchain network makes the highly anticipated move, two other coins to watch in the market are <a href="https://coinjournal.net/stellar-lumens/">Stellar (XLM)</a> and <a href="https://digitoads.me/ivz">DigiToads (TOADS)</a>. Both XLM and TOADS are racing to reach the $1 milestone, with bulls hoping for a foothold that could push the tokens even higher.With investors eagerly watching the market, these three are among the <a href="https://coinjournal.net/cryptocurrencies/">best cryptos</a> looking to continue with an upside momentum. This article offers an in-depth outlook at ETH, XLM and TOADS.DigiToads (TOADS): The innovative utility token with P2E gaming and NFT stakingDigiToads (TOADS) stands out from other meme coins as it is more than just a token—it’s a utility token to impact society positively. By engaging in NFT staking, P2E gaming, and holding TOADS tokens, you can enjoy the best NFTs while experiencing thrilling prospects for growth and passive income.DigiToads features an ERC20 token that players can earn and use within the game’s ecosystem. With this, players can purchase new DigiToads, upgrade their existing ones, and access exclusive features and rewards.In the swamp arena, players can utilize the TOADS DeFi token to purchase food, potions, and training equipment to enhance the strength of their DigiToads. The top 25% of players on the leaderboard are rewarded with TOADS tokens after each season, offering players an opportunity to earn actual money as they partake in the game.DigiToads offers some of the best NFTs on the market and rewards its TOADS holders for their loyalty by airdropping 10% of the accumulated funds to them monthly. Also notable is that 2% of every TOADS transaction is allocated to the staking pool to support its NFT staking program.<a href="https://digitoads.me/ivz">>> Buy DigiToads Now <<</a>Ethereum (ETH): The driving force behind DeFi and the $2,000 milestone Ethereum (ETH), which launched in 2015, has grown to become the leading altcoin. The Ethereum market cap is only second to Bitcoin. One of the main strides the blockchain network has enabled the broader crypto industry take is its enabling of a thriving decentralized finance (DeFi) and non-fungible tokens (NFTs) ecosystem. After recent upgrades, ETH has cemented its appeal as one of the best cryptocurrencies to buy for portfolio diversification.Ethereum price has traded under the $2,000 mark this April, and with the community upbeat about its future, its native token is expected to break and maintain fresh momentum above the $2k level incoming weeks.What is expected to drive ETH price is the growing demand for decentralized applications (dApps) on the Ethereum network, as well as the popularity of ERC20 tokens.Stellar (XLM): Revolutionizing cross-border transactions, targeting $1Stellar (XLM) is a decentralized blockchain platform facilitating secure and quick cross-border transactions between different currencies. XLM is currently among the best cryptos because of its low-cost financial services available to all, irrespective of their financial status. Stellar is considered one of the best ICO investments, with the price of XLM forecast to target the $1 mark by end of 2023. What makes Stellar unique is its consensus algorithm that uses the federated Byzantine agreement protocol to enable efficient transaction processing. As adoption rates increase, XLM could become one of the <a href="https://coinjournal.net/news/10-best-cryptocurrencies-to-invest-in-now-what-crypto-to-buy-today-for-the-best-roi-in-2023-and-beyond/">best cryptocurrencies…

Bankrupt FTX has reportedly recovered $7.3 billion in assets.The embattled crypto exchange is considering relaunching in Q2, 2023.FTX is currently embroiled in US Bankruptcy court proceedings.In what could be a dramatic turn of events, the FTX cryptocurrency exchange during Bankruptcy court hearing on Wednesday reported it has recovered $7.3 billion in cash and cryptocurrency assets.The asset recovery shows the exchange has recovered an additional $800 million since January according to the company’s attorney who provided the details during the court hearing.FTX to relaunch in Q2, 2023In yet another positive news for the embattled crypto exchange, the company’s attorney during the court hearing said that the exchange is considering a relaunch in Q2.The FTX collapse remains the biggest and most controversial financial scandal within the crypto space although a number of top executives including its founder and former CEO Sam Bankman-Fried (SBF) are facing trial for their contribution in bringing down what was once the largest cryptocurrency exchange.The collapse sent shockwaves across the entire crypto industry and caused the collapse of several other crypto firms/projects including Celsius and Voyager Digital Ltd. Its relaunch would therefore probably offer some reprieve for its customers who have been waiting for almost half a year now to access their funds.Although the company’s attorney has indicated that the exchange could relaunch this year, it is not yet clear if the company will seek to rebrand or will relaunch as FTX. All eyes remain on the court proceedings after the positive news.The post FTX considering relaunching in Q2 after asset recovery appeared first on CoinJournal.

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