Boba Guys is a popular US tea retailer that operates in California and New York.Solana Foundation recently invested $100,000 into Boba Guys.Boba Guys has now tapped Solana for its loyalty rewards program.Solana has been chosen by popular US tea retailer Boba Guys for its loyalty rewards program just a day after Solana unveiled the flagship, security-conscious, crypto-first Android device Saga.Saga makes it easy and secure to self-custody digital assets and removes the friction associated with digital assets. It also features a Seed Vault, which makes it a hardware wallet. It is now available to customers who pre-ordered and will be available starting on May 8 for new orders.Boba Guys loyalty rewards program powered by SolanaThe popular tea retail chain selling bubble tea opened in 2011 and is seeking to further deepen its community and give back to its customers through its Web3 rewards initiative. The initiative will utilise Solana’s high-speed, low-cost network to integrate non-fungible tokens (NFTs) and token-gated experiences to help boost consumer engagement.The choice of Solana comes after the Solana Foundation invested $100,000 into Boba Guys.The co-founder of Boba Guys, Bin Chen, in an interview with popular a popular media outlet, said:“People that come into our stores may not know a single thing about Web3, Solana, blockchain, or any of those things, just the same way that people that come into Boba Guys may not know anything about boba. We have that same approach with how we’re doing Web3.”On the side of Solana, the head of commerce business development at the Solana Foundation while commenting about the selection by Boba Guys said:“Their vision for the future of cafes and retail is a model that could become the standard in the years to come. This collaboration will show how loyalty programs can be improved for both customers and retailers and create a path for other organizations to follow.”Boba Guys is not the first retailer to embrace Web3 loyalty programs to deepen customer relations. In December 2022, Starbucks launched the beta of its Odyssey program to offer gamified Web3 experience to its customers.Solana price reactionThe news has not had much impact on the price of Solana’s native token SOL.At press time, the price of SOL had dropped by about 1.50% to trade at $24.43.The post US-based drink retailer Boba Guys taps Solana for loyalty rewards program appeared first on CoinJournal.

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While Ethereum is the primary home of NFT collections, Solana NFTs have steadily increased in popularity since 2021. However, recent developments in the ecosystem have led some to wonder how Solana price predictions have changed over the past few weeks. Meanwhile, rising star Metacade has attracted considerable attention after selling out in presale and securing exchange listings with some big names.Metacade Price Holds Strong After Uniswap ListingIn April, Metacade successfully listed its tokens on Uniswap. The price of MCADE has managed to hold firm; it’s currently sitting at $0.022. This means that anyone who purchased MCADE tokens at the start of their presale has made 10% returns so far, and the excitement around Metacade doesn’t seem to be slowing down. Metacade was able to fill its entire $250 million token staking pool in under 5 hours. Considering the continued interest shown by investors, Metacade’s price prediction seems set to soar.Solana (SOL) Sees Mixed Signals Following NFT Collection DepartureSolana is one of the leading Ethereum competitors highly regarded for its lightning-fast transaction speeds and low costs and has been tipped as the next up-and-coming NFT chain in recent months. Analysts pointed out that Solana is one of the most inexpensive chains to release NFTs on, costing around $30 to deploy smart contracts vs. Ethereum’s as much as $5,000. Despite this, two of the most notable Solana NFTs, DeGods and y00ts, recently completed a migration to Ethereum in a massive blow to the ecosystem. Developers of the two projects cite restricted growth in the Solana NFTs ecosystem as one of the primary causes for the migration. Consequently, the number of users buying Solana NFTs has dropped around -15% over the past month, with total transactions falling almost -10%, according to CryptoSlam. There is, however, good news for Solana’s NFT ecosystem. In the past few days, the Solana Foundation announced that it would introduce state compression, a move that would make minting NFTS on the Solana chain  2,400-24,000x cheaper than its uncompressed counterparts. This would reduce the cost of storing 1 million Solana NFTs from $24,000 to around $110 and make NFT minting more accessible. Solana (SOL) Price PredictionWith the potential for this cost-cutting measure to drive Solana’s long-term adoption in the NFT space, Solana’s price predictions have been relatively bullish lately, despite the negative short-term news. SOL is currently worth around $20. Less optimistic Solana price predictions see SOL retesting the $46-48 area this year, which would still represent over 100% returns from today’s prices.More bullish Solana price predictions think it could move up to the $86 mark, while some expect SOL to reach $130 by the end of 2023. In either scenario, today’s investors could bag at least 4x gains.Metacade (MCADE) Wows Investors With an Impressive Roadmap<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=23">Metacade</a> is a groundbreaking play-to-earn (P2E) platform that aims to establish itself as a one-stop community hub for the GameFi sector. After recently raising over $16.35m and appreciating 10% during its presale, savvy investors have turned their attention to Metacade’s upcoming exchange listings on Bitmart (April) and MEXC (May). Sales of MCADE on Uniswap are doing well, benefiting from early investors jumping in early to benefit before the first two centralized exchange listings.The platform’s vision is to provide a vibrant space for gamers, developers, and crypto enthusiasts to come together and explore the ever-expanding world of blockchain gaming. Metacade offers various tools and features to help creators and entrepreneurs get ahead in P2E, including dedicated sub-forums for discussing the latest tips, a review system for identifying top-tier games, and alpha shared by GameFi professionals.At the core of Metacade’s ecosystem is the MCADE token, a multi-purpose utility token that offers…

<strong>Toronto, Canada, April 14th, 2023, Chainwire</strong><a href="https://confluxnetwork.org/">Conflux</a>, the only regulatory-compliant blockchain in China, has proposed deploying Uniswap v3 on its network alongside CNH (offshore Chinese Yuan) stable currency, and joining the Curve Wars with its mainnet token CFX bridged to Ethereum mainnet, known as eCFX. This proposal comes after <a href="https://www.binance.com/en/amp/support/announcement/67822fd9c9c24275af4d90aef4688479">Binance’s announcement</a> that it will support Conflux Network’s (CFX) mainnet integration. The hope is to attract more initiatives, establish liquidity pools to facilitate the exchange of CFX tokens, and implement incentives that promote liquidity, ultimately increasing the network’s worth and usage.By deploying Uniswap v3 on Conflux eSpace, the Uniswap community gains access to a wider range of trading opportunities with both USD- and CNHC-based pairs. This development is particularly timely in light of regulatory restrictions facing USD-based stablecoins. Furthermore, projects operating in currencies other than USD will benefit greatly from this deployment, especially Asian projects that can now use CNH for settlements without worrying about currency fluctuations.Conflux has opted to participate in a highly intricate Defi ecosystem in parallel, with the aim of drawing the attention of ETH DeFi players. Conflux’s cross-chained <a href="https://twitter.com/search?q=%24CFX">$CFX</a> on Ethereum, <a href="https://twitter.com/search?q=%24eCFX">$eCFX</a>, offers a liquidity pair with ETH on Curve. Following an on-chain vote by the Curve DAO, the Curve pool (eCFX-ETH) has been officially approved and added to the Curve Gauge. You can find the vote results here: <a href="https://dao.curve.fi/vote/ownership/312">https://dao.curve.fi/vote/ownership/312</a>.Furthermore, the aforementioned pool is now available for staking on Conflux, enabling DeFi users to operate deeper within the Curve ecosystem. While Curve has been deployed on several other networks before, none of these networks initially launched a pool on Curve (Ethereum) prior to welcoming Curve on their platform. Conflux’s choice to do so indicates their efforts to establish contact with the Curve community while on Ethereum and offer a new Curve pool for Asian DeFi projects before a possible launch of Curve on Conflux eSpace.The intersection of US and EU regulatory barriers on blockchain and the recent supportive regulations on blockchain in Hong Kong emphasize how crucial the Chinese market is for the development of Web3 projects.Over 84% of global blockchain applications have been submitted in China, dwarfing submissions in the UK (11%) and the US (14%), which confirms that China represents one of the most innovative markets in Web3.“By integrating eCFX with the Curve ecosystem, our team aims to demonstrate a strong commitment to robust DeFi,” says Christian Oertel, Global Expansion Manager. “As Uniswap prepares to launch on Conflux, more tokens developed by Asia-based teams will be incentivized to build bridges into this burgeoning ecosystem. Once Conflux reaches an appropriate scale, our team plans to natively deploy Curve Finance, bringing the efficient stablecoin AMM-giant to Asia’s own DeFi-centric blockchain.”<strong>About Conflux Network</strong><a href="https://confluxnetwork.org/">Conflux</a> is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.ContactMelissa Tirey, melissa@shift6studios.comThe…

As the world of cryptocurrencies continues to evolve rapidly, investors are constantly looking for the next big opportunity. Ethereum has long been regarded as a stalwart in the industry, but analysts working on Ethereum price prediction reports for 2023 have raised questions about its future growth potential.In contrast, Metacade, a new and ambitious GameFi project, continues to capture the attention of investors with a successful launch on Uniswap in early April. Crypto investment groups are increasingly focused on understanding the factors contributing to the poor Ethereum price predictions for 2023 and exploring why Metacade may emerge as a more lucrative crypto investment in the coming months.Why do Ethereum’s price predictions look slightly subdued?Ethereum’s undeniable influence on the blockchain landscape cannot be understated. Still, concerns about scalability, transaction fees, and long-term network upgrades have left some investors uncertain about its future price performance.While the layer-1 giant remains a clear market leader in the public permissionless blockchain sector, the price of ETH may see significant challenges if it cannot capture an increasingly significant chunk of the enterprise use cases expected during the coming years.Does Metacade (MCADE) have what it takes to outperform the Ethereum (ETH) price?Investing in Ethereum has undoubtedly been a lucrative endeavour for many early adopters. Still, as the market matures and competition heats up, market challengers are beginning to emerge for ETH investors, which has many looking elsewhere to maximize their returns.As the GameFi revolution unfolds, the massive and well-established gaming industry is poised to witness a significant influx of users flocking to projects like Metacade, driven by the desire to earn income while indulging in their favourite pastime. Metacade’s comprehensive and diverse game offerings set it apart from competitors that primarily focus on a single gameplay experience, providing it with a significant advantage in terms of market capitalization. With Metacade at the centre of the GameFi movement, this alone shows that the consensus is that MCADE is likely to be a much stronger crypto investment choice than ETH over the coming years.What is Metacade?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=28">Metacade</a> is an ambitious project seeking to disrupt the gaming landscape by constructing the world’s most extensive play-to-earn (P2E) arcade. With a clear focus on providing an unparalleled gaming experience, Metacade aims to attract a diverse audience of gamers, fueling the growing GameFi movement by creating a very attractive ecosystem for gamers to engage with.By offering a wide array of gaming genres, Metacade intends to cater to a vast audience, and the enormous existing gaming community means that the total addressable market (TAM) that Metcade aims to capture is astronomical in size. The platform also incentivizes community contributions and engagement, creating an ecosystem where users are rewarded for their input and activities and ensuring that the user retention levels seen are unparalleled.The MCADE token is the project’s native currency, presenting a promising investment opportunity for those looking to capitalize on the emerging GameFi sector. As the platform gains traction and the user base expands, the demand for MCADE is expected to grow due to the high level of utility the token holds within the Metacade ecosystem.How does Metacade work?At the core of Metacade’s ecosystem lies its groundbreaking P2E arcade, enabling gamers to earn income while enjoying their favorite games. The MCADE token serves as the primary currency within the platform, facilitating value exchange and powering the rewards system.Metacade’s comprehensive approach also includes rewards for non-gaming activities which means that there is the constant improvement of the user experience through this incentivization. The platform…

After successfully selling out its presale and attracting thousands of investors, GameFi crypto project Metacade is now beginning to offer its MCADE token on major crypto exchanges. But what is Metacade, and why could it be one of the best GameFi crypto investments in 2023?What is Metacade (MCADE)?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=32">Metacade</a> is an up-and-coming project designed to be the ultimate hub for play-to-earn (P2E) gaming enthusiasts, developers, and crypto investors. It brings together the GameFi crypto community in an all-in-one ecosystem, providing a place to connect, discuss, and engage with the latest games, trends, and opportunities in the rapidly evolving P2E space. Metacade will soon offer players everything they need to find their edge in the P2E arena, with spaces for reading the latest GameFi alpha shared by industry veterans, sub-forums for discussing specific titles, and a comprehensive review system to find the games worth playing. It will leverage the benefits of blockchain technology to reward players for their contributions to the platform, create a pay-to-play virtual arcade, and even create a decentralized funding scheme known as Metagrants. What is in Metacade’s Future?In April, Metacade listed its MCADE token on the Uniswap exchange, where the price of MCADE tokens has continued to gain interest and value. The tokens listed on Uniswap at $0.22, a 10% increase over its final presale price. Those who bought tokens right when Metacade’s presale started could already have made an impressive 150% return on their investments.Metacade token holders could be in for an exciting future as the Web3 gaming industry is set to grow exponentially in the coming years. If the gaming industry grows by 10X as experts predict, the value of MCADE tokens could easily hit $2 by 2027.
Additionally, Metacade’s roadmap includes listings on the Bitmart and MEXC exchanges later in April and May, which will only drive the price higher. Many expect that, once word gets out, Metacade will quickly climb the ranks to become one of 2023’s best GameFi crypto investments. 7 Reasons Metacade (MCADE) Might Be One of the Best GameFi Crypto Investments in 2023So what exactly could drive Metacade to the status of “best GameFi crypto investment?”Community-Driven EcosystemMetacade’s focus on building a solid and engaged community offers a unique value proposition for investors. Community-based projects are much more likely to succeed than those without a strong fanbase – just look at Shiba Inu for a good example. They benefit heavily from the network effect, which should drive thousands of new users to Metacade’s platform. Metagrant ProgramThis innovative funding scheme allows MCADE holders to vote on and direct financing from the platform’s treasury to the most promising P2E games. By supporting the best developers and projects, Metacade can become a hotbed for the next generation of blockbuster games. Each game is to be hosted in the platform’s virtual arcade, meaning a smash hit could propel Metacade into the spotlight. Expanding Job OpportunitiesMetacade’s job board, launching in 2024, will connect users with gaming and Web3 companies for casual and full-time work opportunities. Some of these roles will use the platform’s native testing environment, where users can earn MCADE for offering feedback on new P2E titles. This feature adds an extra layer of value for the community and vastly differentiates Metacade from other GameFi crypto projects.DAO Governance Metacade plans to transition into a decentralized autonomous organization (DAO) in 2024, giving MCADE holders a direct say in critical decisions and platform governance. This move towards decentralization further strengthens the project’s long-term sustainability and encourages MCADE holders to work together to better the platform. Emphasis on SecurityMetacade is certified by Certik, one of the crypto investment industry’s leading auditors.…

Uniswap V3 recorded a 208% jump in liquidity in Q1.Coinbase and Binance saw declines of – 6.35% and -13.4% respectively amid regulatory pressures.The depeg of USDC and collapse of Silicon Valley Bank also highlighted the pressure events in the quarter.<a href="https://coinjournal.net/uniswap/">Uniswap</a>, the largest decentralised exchange (DEX) platform, recorded a significant boost in liquidity during the first three months of 2023, compared to major centralised exchange (CEX) platforms <a href="https://coinjournal.net/exchanges/binance/">Binance</a> and <a href="https://coinjournal.net/exchanges/coinbase/">Coinbase</a>.Other insights from a new market <a href="https://ccdata.io/reports/q2-2023-outlook-report">report</a> include Bitcoin dominance rising to above 45%, Ethereum continuing its dominance in the DeFi space and Tether (USDT) accounting for over 60% of stablecoin transactions in the quarter.Get the inside scoop on 2023 Q2 with our Outlook Report on macro trends, inflation & digital assets.✔️ <a href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a>'s market dominance rises to 45.2%, highest since April 2021✔️ <a href="https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw">$ETH</a> dominates DeFi, TVL rises 52% to $76.8bn, market share increases to 72%✔️ Centralised exchange…— CCData (@CCData_io) <a href="https://twitter.com/CCData_io/status/1646830748580683780?ref_src=twsrc%5Etfw">April 14, 2023</a>CCData: impact of regulatory pressures on liquidityThe market outlook report by CCData highlights how market liquidity suffered from regulatory pressure in Q1, with the impact being on reduced liquidity for the world’s largest CEX platforms.The first quarter was littered with various enforcement actions, lawsuits and settlements involving crypto exchanges. Coinbase reached a $100 million settlement with the NYDFS in February before <a href="https://coinjournal.net/news/coinbase-ceo-says-secs-notice-wasnt-entirely-unexpected/">receiving a Wells Notice</a> from the SEC in March, while Binance was sued by the CFTC in March.Other landmark regulatory pressure events in the quarter involved Gemini, Kraken, KuCoin and CoinEx, and further market uncertainty as the stablecoin <a href="https://coinjournal.net/news/circle-says-3-3b-of-usdc-reserves-stuck-at-silicon-valley-bank/">USDC briefly depegged</a> sucking liquidity from centralised exchanges.Unswap V3 saw a 208% jump in liquidity as CEX platforms registered declinesComparing ETH liquidity on <a href="https://coinjournal.net/news/tag/uniswap/">Uniswap</a> to that of Binance and Coinbase during the quarter for instance, shows Uniswap V3’s liquidity increased substantially. CCData, in their 2023 Quarter 2 Outlook Report, found that Uniswap V3 recorded an impressive 208% surge in liquidity.Meanwhile, Coinbase and Binance registered declines of – 6.35% and -13.4% respectively. According to CCData, the boost in liquidity for the DEX platform can be attributed to prevailing market conditions that saw participants try to capitalise on USDC’s depeg by pushing liquidity into pools like the ETH-USDC.On-chain data shows a noteworthy drop in the 1% market depth for the top trading pairs BTC-USD and BTC-USDT. Liquidity declined to its lowest level for USD and USDT on 26 March as the impact of the collapse of Silvergate Bank, <a href="https://coinjournal.net/news/new-york-banking-authorities-shut-down-crypto-friendly-signature-bank/">Signature Bank</a> and Silicon Valley Bank (SVB) hit the crypto industry.CCData researchers also note that low liquidity and trading volumes had a noticeable impact on centralised exchange reserves. Uncertainty saw exchange reserves fall to the lowest level since 2020, before seeing a slight improvement in March, according to the report.The post <a href="https://coinjournal.net/news/uniswap-v3-liquidity-grew-208-in-q1-as-coinbase-and-binance-saw-declines-ccdata-report/">Uniswap V3 liquidity grew 208% in Q1 as Coinbase and Binance saw declines: CCData report</a> appeared…

As the crypto market recovers from the fallout of Silicon Valley Bank and other failures, traders realize the value proposition of cryptocurrencies like ASI and Dogecoin. With the <a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_priceprediction&utm_content=as_presale%20_1&utm_id=120">ongoing ASI presale</a>, there is a lot of excitement around the potential of this token in the impending bull market. Continue reading for a deep dive into the differences between ASI and Dogecoin and a Dogecoin price prediction for the crypto bull market that is just starting.Why is Everyone Getting Excited About ASI?AltSignals has an impressive track record of providing traders with accurate and timely signals to guide their investments. The ASI utility token presale is expected to raise funds that will enable the company to improve its already impressive capabilities even further.The improvements include the development of AltSignals’ new ActualizeAI feature, which will enable traders to have even more sophisticated, AI-driven algorithms and tools. Traders have been impressed with AltSignals’ capabilities in the past, and they’re excited about the improvements that will be enabled by the funds raised in <a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_priceprediction&utm_content=as_presale%20_1&utm_id=120">the ASI presale</a>.What is AltSignals?<a href="https://token.altsignals.io/?utm_source=media&utm_medium=https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_priceprediction&utm_content=as_presale%20_1&utm_id=120">AltSignals</a> is a platform that provides traders with signals, indicators, and other tools that they can use to guide their investments in the crypto market. The platform offers a range of features, including AltAlgo™, which uses advanced algorithms to identify trading opportunities in real time. AltSignals also provides educational resources, including webinars and tutorials, to help traders learn more about the market and improve their skills.How will AltSignals Use Artificial Intelligence (AI)?AltSignals will use AI to develop algorithms that can analyze market data and identify trading opportunities in real time. The company plans to use the funds raised in the ASI presale to develop ever more advanced AI-based features, such as ActualizeAI. ActualizeAI will enable traders to customize their trading strategies based on a range of criteria, including risk tolerance, investment goals, and market conditions.Another upcoming feature of AltSignals is the AI Members Club, which will only be open to holders of ASI tokens. This is effectively a VIP version of AltSignals, and it allows users to gain early access to new features based on various developments in the AI space.According to AltSignals, traders who use the platform have seen impressive returns, with their crypto trading tips achieving an average 64% success rate.What Does the Return of the Bull Market Mean for the ASI Price?The return of the bull market is likely to bring many new traders into the crypto market. These traders will seek guidance in their investments, which is bullish for platforms like AltSignals. ASI is used on the AltSignals platform as a utility token, meaning that traders need to hold ASI to access the platform’s features fully. As more traders come to AltSignals, the demand for ASI will increase, which will also drive up the token’s price.In the aftermath of the ASI presale, this native token will become an integral part of the AltSignals platform. The token is required to access certain features of the service, such as the AI Members Club, and those who hold more ASI tokens will have access to much more functionality on AltSignals.What is the Dogecoin Price Prediction for 2023?It’s challenging to make an optimistic Dogecoin price prediction because there isn’t much reason for it to exist outside of people having fun with…

Many traders spend plenty of time worrying about trading strategies, but portfolio management is equally important. Without proper management, your investments could end up in hot water with substantial losses.A lot of this comes down to due diligence and human error, as the crypto market can be a tricky place to navigate. However, this doesn’t always have to be the case, as <a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_investmentopportunity&utm_content=as_presale%20_1&utm_id=125">AltSignals</a> aims to support investors’ trading calls with the help of stellar analysis and AI.Why AltSignals’ ASI token is an excellent investment opportunityYou don’t have to worry about <a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_investmentopportunity&utm_content=as_presale%20_1&utm_id=125">investment opportunities</a> and upside potential regarding the ASI token. Currently, traders can take advantage of AltAlgo™, which considers 34 different signal filters. Their signals are known for delivering a 64% success rate, and they plan to increase this number with the help of new technology.The ASI token’s roadmap looks bright, especially considering the future implementation of its new artificial intelligence layer, ActualizeAI, which is in development. Not only will this tech do wonders for trading signals, but it’ll make portfolio management much easier for everyday traders.The multi-step process of AltSignals’ ActualizeAI algorithm will include the following:Machine learningNatural language processing (NLP)Predictive modelingSentiment AnalysisReinforcement learningThis process is paramount for the success of ActualizeAI, and it’ll come with much higher success rates for AltSignals’ trading signals.How the ASI token may rise by 2,100%That number might be hard to believe, but it’s entirely possible. AltSignals is still working through its presale, but many investors and analysts consider them one of the best investments of 2023. It’s pretty clear why, as they offer promising benefits and technology for traders, and their price is projected to skyrocket throughout the year, according to some analysts.Several industry experts feel that AltSignals’ ActualizeAI algorithm could be groundbreaking for the industry and generate substantial investor interest. Some analysts believe the ASI token could jump by roughly <a href="https://cryptonews.net/editorial/investments/altsignals-price-prediction-investors-flock-to-altsignals-asi-token-presale-as-crypto-market-takes-off/">2,100%</a>, which would land the token at around $0.50. Considering how affordable ASI is in the presale, investors may feel that taking a chance on it is a pretty good gamble. AltSignals is currently very useful in helping with portfolio management and will be even more so after the new AI developments are integrated into the system via ActualizeAI. Taking advantage of <a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_investmentopportunity&utm_content=as_presale%20_1&utm_id=125">the ASI presale</a> is your best approach, as waiting will only limit your chance at a steep return.What is the ASI token, and how does it work?It’s good to dive into what sets it apart from other cryptocurrencies. The primary purpose of the token is to give token holders access to the AltSignals AI Ecosystem. However, many ASI tokens you hold will directly correlate to how much access you have to this ecosystem.The token utility is one of the most significant selling points, as ASI has numerous benefits for traders. You can find a brief list of what the token’s utility has to offer below.ActualizeAI: An AI stack aimed at supercharging the performance of their algorithmAI-powered products: A suite of AI-powered products for ASI token holdersAI Members Club: Accrue ASI tokens for contributing to product development and morePresale opportunities: Offers opportunities…

Veteran crypto-critic Warren Buffett has entered crypto news again as his investment firm Berkshire Hathaway holds onto its $1.5 billion investment in Brazilian fintech giant Nubank.Despite this holding, Warren Buffett released his annual letter outlining three reasons he believes crypto “will come to a very bad ending.” With trading signals platform AltSignals announcing the presale event for its native ASI coin, Buffett might indeed be skeptical of it, but  crypto investors might disagree – instead marking ASI as one of the best cryptos to invest in now.Warren Buffett’s three reasons why crypto will die.While it’s difficult to square Warren Buffett’s dismissal of crypto with Nubank continuing to allocate 1% of its net assets to Bitcoin (BTC), the veteran remains consistent in his mistrust of crypto. His recent annual letter outlined three reasons he’s against it:Crypto has no unique value – Buffett prefers stocks in corporations that provide tangible cash flow and production.He doesn’t believe crypto counts as money – Buffett has long contested BTC value, stating, “it does not meet the test of a currency. It is not a durable means of exchange, not a store of value.”He doesn’t understand crypto – Buffett has admitted to not knowing much about crypto, hence not taking a trading position.Crypto investors have disavowed Buffett’s advice on crypto for many years and continue to do so, with vast markets flourishing despite his statements. With AltSignals’ ASI presale generating momentum on trading forums and Telegram groups, here’s why many believe it’s one of the best cryptos to invest in this year.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_presale%20_1&utm_id=130">AltSignals</a> is already one of the world’s leading providers of trading signals, building a community of more than 50,000 since launching in 2017. Its market-leading AltAlgo™ trading indicator tool has helped investors maximize profits on various financial trades, from daily crypto trades to Binance futures, from FOREX to CFD.The success of AltSignals trading intel is illustrated by users increasing their holdings by 10X in Binance futures trading in 19 out of 32 months. Now, the platform is turning to artificial intelligence to enhance its outputs and create even better signals for its membership, using its ActualizeAI trading stack.Actualize AI uses several AI technologies to take its already solid outputs and improve accuracy and quality. Its machine learning employs regressive pattern recognition to signals, allowing a rules-based logic to be applied, resulting in much better predictions. Meanwhile, predictive modeling applies historical trading data trends to the outputs, enabling more accurate predictions based on how markets have performed in the past. Once reinforcement learning is used on the final results, ActualizeAI’s signals further provide its community with a fully balanced risk/reward ratio on every trade.How does ASI work?The ASI token release will support the development of the ActualizeAI trading stack alongside supporting the entire AltSignals ecosystem. ASI will be used as the medium of exchange on AltSignals, enabling transactions and unlocking valuable access to help investors on their trading journeys.All ASI coin holders immediately unlock access to ActualizeAI-powered signals while also having the opportunity to join the AI Members Club. These members will be able to gain crypto rewards for beta testing new features and products while benefiting from exclusive access to the most exciting and lucrative private presale and public sale opportunities.As well as delivering excellent utility to coin holders, the ASI coin also looks to become a valuable governance coin, providing all holders with voting rights to determine the future direction of AltSignals.How high can ASI go in 2023?Investors are incredibly excited by the potential of the ASI coin, mainly due to its early…

Scott Melker says crypto won’t achieve mainstream adoption by trying to explain dank sharding and SHA-256, and trashing other coins.The Wolf Of All Streets believes mainstream adoption is being impacted by the approach being taken by the crypto community.Crypto leaders disparaging each other and trashing rival projects doesn’t help, he recently tweeted.Scott Melker, a crypto investor and trader and author of the crypto publication The Wolf Den Newsletter, says the crypto community isn’t going about the push for mainstream adoption the right way.Crypto should try to meet user where their needs areAccording to Melker, aka “The Wolf Of All Streets” on Twitter, what crypto needs to do is cut out unnecessary terminology when putting out the crypto message to the masses. He believes meeting the common user where “their wants and needs exist” could help a lot with promoting overall adoption.“Mainstream adoption won’t come with attempting to explain dank sharding and sha-256,” he recently tweeted, noting that taking this route is impacting the desired goal. “There’s a reason people ignore us,” he added.Jeff Garzik, one of the early Bitcoin believers, agreed with Melker’s assessment. It's all "plumbing."Crypto wins when average people can use our technology without ever having to know or understand esoteric concepts such as sharding or hashing.Plumbing is not exciting or cool to most people. It's something that silently Just Works.— Ser Jeff Garzik (@jgarzik) April 14, 2023Crypto leaders need to do better, The Wolf Of All Streets opined.“One of the biggest problems the crypto community has is that its leaders often talk down to the mainstream audience or speak in terminology that is over the average person’s head. We need to simplify the messaging for the masses and meet them where their wants and needs exist.”On what else the community needs to work on as it looks to help the next wave of adoption across everyday users, Melker believes trashing other projects is not one of the avenues.“Imagine having the opportunity to go on mainstream media and extol the virtues of bitcoin but instead railing about your hate for Ethereum or shitcoins instead,” he observed.His message has been echoed by many on Crypto Twitter. One such comment was from Jahon Jamali, the CEO of American Crypto Academy, who believes explaining “the value proposition more than the technology,” will definitely ring a bell with many people.I’ve been saying this from day one.– Avoid technologically intimating language;
– Explain the value proposition more than the technology;
– Scrap the condescension.This is a belief system in its totality.Preach in the vernacular of the flock you’re trying to convert.— Jahon Jamali 😎🇺🇸 (@JahonJamali) April 13, 2023The post Scott Melker: crypto has to meet users where their needs are appeared first on CoinJournal.

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Scott Melker shares his view on Bitcoin and Ethereum.He also discussed ETH’s recent Shanghai upgrade.BTC and ETH are currently up about 80% for the year.Both Bitcoin as well as Ethereum have pushed hard to the upside in recent sessions – leaving investors wondering which of the two is a better investment.Pro says BTC and ETH are separate assetsInterestingly, though, crypto specialist Scott Melker doesn’t see it fair to compare the two since they’re more like apple and oranges. Speaking with Yahoo Finance Live, he said:I view Bitcoin as digital gold. Store of value, flight to safety. Ethereum is more of a tech investment. It’s internet of value. So, you can love one or both. You don’t have to choose.Part of the reason for the ongoing surge in Bitcoin and Ethereum may have been the monthly CPI print that confirmed inflation was still well above the Fed’s 2.0% target in March.Both BTC and ETH are currently up about 80% for the year.Melker’s take on Ethereum’s Shanghai upgradeEthereum, in particular, has been in news since last month because of its so-called Shanghai upgrade that enabled holders to unstake the assets for the first time.Discussing the hard fork on Yahoo Finance Live, Melker who hosts “The Wolf of All Streets” podcast said:It’s a huge development for ETH, major step in right direction. There hasn’t been huge demand to withdraw. There are a lot of people actually waiting to deposit. We’re seeing net inflows.Also recently, Ethereum co-founder Vitalik Buterin reiterated the need to fix scaling issues before the next bull run.The post Bitcoin vs Ethereum: which one is a better investment? appeared first on CoinJournal.

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Bitcoin’s YTD performance exceeds 80%Investors were betting on a pennant formation in March The 28k level invalidates the bullish formationBitcoin price bounced from the 2022 lows right from the start of 2023. It rallied more than 80% just a few months.But Bitcoin YTD performance is in danger if the market is not strong enough to push even higher. Investors bought Bitcoin in March and in the first half of April, hoping that Bitcoin price would reach the measured move of a pennant formation.A pennant is a bullish continuation pattern. It is made of a consolidation that takes the form of a triangle, and before the consolidation, the market must rally.It did.MediaBitcoin chart by TradingViewA similar rally should follow after the bullish breakout from the triangle. Moreover, the price should reach the measured move, seen above in orange, in about the same time it took the market to rally until the triangle’s formation.28k is the line in the sand for the pennantA pennant signals “more of the same.” Because it is a bullish pattern, it signals more upside.But its “beauty” is that it allows traders to incorporate the time element into the analysis. Whenever this is possible, traders have a competitive advantage. Not only do they have an idea about where the price should go, but also when it should reach that level.The more time passes without the market reaching the measured move, the more likely it is that the pattern will be invalidated. Such an invalidation would occur if the price drops below the 28k area.Summing up, Bitcoin’s YTD performance is in danger as time is ticking. A failure to hold above 30k brings the 28k invalidation level into focus.The post Bitcoin’s YTD performance in danger should this pennant fail appeared first on CoinJournal.

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Injective Protocol’s token has been one of the best performers this year.Oscillators like the RSI and Stochastic have become extremely overbought.INJ, Injective Protocol’s native token, has continued soaring in the past few months as demand for the <a href="https://coinjournal.net/learn/what-is-defi/">DeFi</a>-focused network jumped. The token rose to a high of $9.67, the highest point since February 7 of this year. In all, the token has jumped by more than 736% from the lowest level in December. Why is Injective Protocol is soaringInjective Protocol is a fast-growing platform that aims to change the finance industry. It is one of the few protocols that is designed to disrupt the financial sector. It does this by creating a platform where developers can build quality dApps in the financial industry. The platform has low transaction costs and faster speeds.There are several reasons why the INJ crypto price has been in a strong bullish trend. First, the developers are now running a hackathon that is seeing tens of developers submit their projects. Winners will receive both funding and mentorship from a team of experienced venture capital firms.The other important Injective news is that it will now be possible to liquid stake INJ tokens. Liquid staking is a technology that makes it possible for people to stake their tokens in an easy and decentralized manner. With liquid staking, users can withdraw their tokens before the maturity period. This staking is being made possible by Stride, a leading <a href="https://coinjournal.net/lido-dao/">Lido DAO</a> alternative for the Cosmos ecosystem. It has over $25 million in total value locked (TVL).The vote of liquid staking has <a href="https://www.mintscan.io/injective/proposals/220">attracted</a> 57% of token holders, with more than 99% of voters being in the affirmative. Injective has an APY of 16.2% this year while the number of bonded tokens has risen to over 35.2 million tokens.The most recent INJ news was a new proposal that will help it amplify liquid staking by incentivizing stINJ pool on Astroport.<a href="https://twitter.com/AltcoinPsycho/status/1647664708256690177">https://twitter.com/AltcoinPsycho/status/1647664708256690177</a>INJ price prediction<a href="https://media.igms.io/2023/03/17/1681735480460-81ebe1bc-56f2-4643-93e6-37c7c8aca454.png">Media</a>The daily chart shows that the INJ price has been in a strong bullish trend in the past few months. As it rose, the token managed to move above the key psychological levels of $8, $6, and $5. It has also jumped above all moving averages.However, oscillators show that the token has become extremely overbought. Therefore, at this stage, a risk/reward analysis mean that it is a bit risky to invest in the token for now. As a result, there is a likelihood that it will pull back and retest the key support level at $4.91, which is about 46% below the current level.How to buy InjectiveKuCoinKucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.<a href="/visit/kucoin-crypto?guid=MTM2OTE5&component=simple-table&language=en&country=US&state=VA&position=1&totalPositions=2">Buy INJ with KuCoin today</a>WazirxWazirX is India's largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.<a href="/visit/wazirx-crypto?guid=MTM2OTE5&component=simple-table&language=en&country=US&state=VA&position=2&totalPositions=2">Buy INJ with Wazirx today</a>The post <a href="https://coinjournal.net/news/heres-why-inj-price-has-soared-and-why-it-could-dip-by-46/">Here’s why INJ price has soared and why it could dip by 46%</a> appeared first on <a href="https://coinjournal.net">CoinJournal</a>.

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At press time, the price of Kyber Network Crystal v2 (KNC) had dropped 2.26% today.Kyber’s Elastic product’s TVL has plunged to $61 million yesterday.Kyber Network has advised liquidity providers to withdraw fundsThe Kyber Network Crystal v2 (KNC) took a hit today after Decentralized finance (DeFi) Kyber Network advised its liquidity providers to withdraw funds citing market vulnerability. The token had dropped by more than 2% at the time of writing.The protocol advised its KyberSwap Elastic product liquidity providers to withdraw funds after finding a potential vulnerability. Kyber confirmed the potential vulnerability via a tweet although it noted that no product has been affected and no funds have been lost so far.KyberSwap Elastic TVL dropsOn Sunday, Kyber Network’s KyberSwap Elastic product had $108 million in total value locked (TVL). However, that figure had dropped to about $30.88 million on Monday according to DefiLlama.The news comes at a time when vulnerabilities and exploits have become rife across the DeFi space. The most recent hack includes the $196 million Euler Finance hack, the $23 million Bitrue exchange hack, and the recent Yearn Finance hack.In 2022, Kyber Network was also hit with a $265,000 exploit.The post Kyber Network price dips after withdrawal alert appeared first on CoinJournal.

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The Securities and Exchange Commission (SEC) has sued Bittrex and a former CEO over the exchange’s offering of unregistered securities.SEC’s complaint alleges the platform offered securities in tokens such as DASH, OMG and ALGO.Bitcoin and crypto dipped on Monday after the news, with BTC price breaking below $30,000.The Securities and Exchange Commission (SEC) has sued Bittrex, one of the world’s largest and oldest cryptocurrency exchanges. In charges announced on Monday, the SEC said it had also sued Bittrex co-founder and ex-CEO William Shihara and highlighted various tokens it claims are securities, including Dash.SEC filed the complaint in the US District Court for the Western District of Washington.The cryptocurrency market was trading lower on Monday morning following the Bittrex news, with Bitcoin price dipping below $30,000. Ethereum price was just above $2,080 at the time of writing, with the total crypto market cap down 2.9% to $1.3 trillion. SEC charges Bittrex for operating unregistered exchangeThe SEC says in its complaint that Bittrex has operated illegally, offering securities to users since 2014 yet it hadn’t properly registered.  Specifically, the US watchdog holds that Bittrex is an unregistered securities exchange, broker, and clearing agency.The charges are also against Bittrex’s foreign affiliate, Bittrex Global GmbH. The entities failed to register their exchange operation, which shared an order book.“Bittrex and Bittrex Global should have registered as an exchange because they brought together, using a shared order book, the orders for securities of multiple buyers and sellers using established, non-discretionary methods under which such orders interacted, and the buyers and sellers entering such orders agreed to the terms of a trade,” the regulator said in a press release.Assets named as securities in the complaint include Dash (DASH), OMG Network (OMG), Algorand (ALGO), TokenCard (TKN). The regulator also highlighted MANA as one of the “securities” listed for trading on the exchange.News of the SEC’s lawsuit against Bittrex comes days after the agency issued Coinbase with a Wells Notice and is part of a growing list of cases against crypto companies. Other platforms that have faced charges or settled with the regulator in 2023 include Kraken, Gemini and CoinEx.The post SEC sues crypto exchange Bittrex and its ex-CEO appeared first on CoinJournal.

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The new decentralized exchange will offer peer-to-peer cross-chain swaps.The DEX will not depend on any intermediaries.The exchange combines privacy, resilience, and cross-chain compatibility.Sovereignty and privacy maximizing currency Decred (DCR/USD) has today launched the latest version of its decentralized exchange.The new version of decentralized exchange DCRDEX 0.6 will use a combination of privacy, resilience, and cross-chain compatibility to offer direct peer-to-peer cross-chain swaps without any kind of intermediaries, solving key problems around privacy and security. This makes it the first exchange to offer direct P2P swaps without using intermediaries.New features introduced on DCRDEX 0.6The most prominent new feature on DCRDEX 0.6 is the introduction of USDC and Ethereum. Users will have access to direct layer 1 atomic swaps without the need for an intermediary, utility token, or third-party arbitration.When swapping from an asset like BTC, the funds are locked in a native contract of the user’s creation that is never spendable by a third party, only the swap participants.In addition, the DEX offers P2P swaps between Ethereum and other layer 1 chains like Decred and Bitcoin among others without the use of centralized pools or crypto wallets.All the features on DCRDEX 0.6 ensure users maintain full custody of their funds throughout the swapping process.The new version of the exchange also introduces native wallets for Bitcoin Cash and Litecoin. Just like the Bitcoin and Decred wallets previously available on the exchange, the two newly added wallets are built on the privacy-preserving light wallet technology introduced by BIP157/158 and transact directly on P2P networks, providing a high level of privacy and security while keeping the system requirements and sync times reasonable.The DCRDEX 0.6 also eliminates the previous one-time registration fee and replaced it with time-locked fidelity bonds. Instead of completely parting with some funds when registering, users will now lock up funds on-chain for a certain amount of time after which the bond expires and the user redeems it.The post Decred launches DCRDEX 0.6, the latest version of its decentralized exchange appeared first on CoinJournal.

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Dash price outlook after SEC lists tokens as securities in complaint against Bittrex.DASH/USD traded nearly 6% lower on Monday, with the 24 hour losses coming after the SEC news.Cryptocurrencies were also down after Bitcoin and Ethereum retreated from recent highs.The prices of Dash (DASH) and Algorand (ALGO) traded lower as the SEC’s complaint against cryptocurrency exchange Bittrex listed the tokens among others as securities.DASH price was down 5.8% on Monday afternoon (around 1:15 pm ET) as it traded near $58.19.Dash price outlook- why is DASH down?As CoinJournal reported earlier, the SEC claims that Dash, Algorand, OMG Network, TokenCard and Naga investors had reason to expect profits for their investment. As such, the tokens should have been registered as securities. The regulator has charged Bittrex and its former CEO William Shihara for violating US securities laws.Amid recent buy pressure, DASH/USD had traded from lows of $54 on 12 April to hit highs of $62. It was the token’s highest price since 24 March 2023 when it traded above $63,However, with news of the SEC’s complaint against Bittrex, Dash has retreated from intraday peaks. The dip sees DASH down more than 96% from its all-time high of $1,493 reached in 2017. During the last bull market, the price of Dash rose to $444.The DASH market today did not just suffer from the news from the SEC. Earlier in the day, the broader crypto market had shed some of recently accumulated gains as a correction materialized. This after Bitcoin retreated from its recent pump to above $31,000 and altcoins that had briefly thrived in the wake of Ethereum’s breakout to above $2,100 also cooled off.While the view is bullish, Bitcoin price prediction suggests a retest of $28,800 as support is possible. In that case, a further dip for DASH could happen and see the price of the privacy-centric token head towards $54. The Dash daily RSI indicator is dipping downwards near the 50 mark, while the MACD is showing weakness after last week’s strong move.The post Dash price prediction: Here’s why DASH is down today appeared first on CoinJournal.

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CME group says demand from clients has increased amid the heightened market volatility.The marketplace plans to expand expiries for its standard and micro-sized BTC and Ether options contracts.Approval would see the derivatives platform make the changes on 22 May, 2023.Derivatives marketplace CME Group is seeking to expand its options expiries for Bitcoin and Ethereum, according to an announcement published today, 17 April 2023.The platform, which says the plans are subject to regulatory approval, indicates that the plan is to have its suite of crypto options for BTC and ETH contracts expiries be available every business week day – Monday to Friday.Currently, expiries for micro-sized options on the two crypto futures are available on Monday, Wednesday and Friday. The CME also offers monthly and quarterly expiries for BTC and ETH options on its futures contracts.If approved, the company will look to have the new expiries available beginning 22 May.Client demand for BTC and ETH productsGiovanni Vicioso, CME Group Global Head of Cryptocurrency Products said the goal is to have market participants access options contracts that offer “greater precision and versatility” for managing short-term Bitcoin and Ethereum price risk.“Against a backdrop of heightened market volatility in the digital asset sector, we continue to see clients turn to a trusted, regulated venue like CME Group for reliable and efficient cryptocurrency risk management products,” Vicioso added.CME Group has seen an increase in demand for Bitcoin and Ethereum futures and options. The top two assets by market cap are also the two best cryptocurrencies for crypto derivatives trading. The bitcoin’s numbers in Q1, 2023 for CME achieved a notional of over $3 billion, a record in terms of daily average. The marketplace also saw a record BTC options contracts of 2,357 traded on 22 March 22. Open interest rose to an all-time high of 14,700 contracts on 31 March and could soar further amid a long-term bullish Bitcoin price prediction, particularly going into the next halving.The all-time high for Ether options contracts was 311 on 22 February, while OI hit a record 1,800 contracts on 24 March.The post CME to expand Bitcoin and Ether options expiries in May appeared first on CoinJournal.

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Bitcoin price has dropped below $30,000 to currently trade near $29,480.Crypto analyst Rekt Capital says BTC price could retest $28,800 and establish it as a major support area.BTC price bounced above $31,000 last week, having struggled to break past the anticipated buffer zone.Bitcoin is trading around $29,479, about 3% down in the past 24 hours and now just 4% up in the past seven days. After trading to highs above $3,100 and then retreating to current levels, the market might have to brace for a retest of $28,800.That’s today’s Bitcoin price prediction as shared by crypto analyst Rekt Capital.  Bitcoin price at key area, with possible dip to $28,800Following a retracement to lows of $15,500 in the aftermath of the FTX debacle market rout, Bitcoin price saw a decent flip in 2023. An upswing off the post-death cross retracement of the bear market saw BTC recover more than 80%.According to Rekt Capital, the rally to $30,000 area had BTC trending at an area that has previously acted as a stubborn resistance as well as support zone on the monthly chart. Bulls managed to breach the supply wall last week, but the $28,800 was equally resolute and despite a decent weekly close above the zone, a fresh dip to the level is likely.Such a retest might be what buyers need to solidify it as a demand reload area. Rekt says a successful retest of the level could reenergize bulls for another upward move.#BTC enjoys a solid Weekly Close above ~$28800 support (orange)If this current dip is to get deeper, it would be entirely healthy for $BTC to retest ~28800After all, that level was a multi-week resistance and now may have the chance to become support#Crypto #Bitcoin https://t.co/ZUMHMa7ukR pic.twitter.com/PCAzaIkAvV— Rekt Capital (@rektcapital) April 17, 2023The post Bitcoin price prediction: Analyst says BTC is poised for a retest of $28,800 appeared first on CoinJournal.

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Bitcoin mining stocks declined in line with the bitcoin price today.U.S. dollar strength pushed BTC under $30,000 again on Monday.DXY climbed today on the back of Empire State Manufacturing data.Shares of the bitcoin mining companies ended down on Monday as “BTC” – the asset they mine and hold returned to the sub $30,000 level again.Why did the bitcoin price slip today?One of the primary reasons behind weakness in the bitcoin price today was the U.S. Dollar Index that moved to the upside. BTC tends to be inversely related to the USD since it was created as a substitute for fiat currencies.That leaves us to wonder why did the U.S. dollar gain strength on Monday in the first place? The answer lies in Empire State Manufacturing data that confirmed factory activity in New York clawed back in April for the first time since late last year.A few of the notable bitcoin mining stocks that closed in the red today include Riot Platforms, Bitfarms, and Hut 8 Mining Corp.Is bitcoin still in a bear market?Now, let’s look at it in another way. Simply put, the monthly business activity survey suggests the U.S. economy is keeping resilient in the face of the Fed’s aggressive rate hikes.That creates at least some room for the central bank to lift rates further to tame inflation which was still at 5.0% in March. It’s significant because the world’s largest cryptocurrency performed poorly last year amidst rising interest rates.Nonetheless, there’s reason to not read too much into the drop in BTC today, including the recent bank failures that could make the Federal Reserve revisit its hawkish stance. According to FxPro analyst Alex Kuptsikevich:Technically, bitcoin has already proven the end of the bear market by securing above key moving averages and steadily retreating from the bottom.The post Why did bitcoin mining stocks end down on Monday? appeared first on CoinJournal.

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Bitcoin mining stocks declined in line with the bitcoin price today.U.S. dollar strength pushed BTC under $30,000 again on Monday.DXY climbed today on the back of Empire State Manufacturing data.Shares of the bitcoin mining companies ended down on Monday as “BTC” – the asset they mine and hold returned to the sub $30,000 level again.Why did the bitcoin price slip today?One of the primary reasons behind weakness in the bitcoin price today was the U.S. Dollar Index that moved to the upside. BTC tends to be inversely related to the USD since it was created as a substitute for fiat currencies.That leaves us to wonder why did the U.S. dollar gain strength on Monday in the first place? The answer lies in Empire State Manufacturing data that confirmed factory activity in New York clawed back in April for the first time since late last year.A few of the notable bitcoin mining stocks that closed in the red today include Riot Platforms, Bitfarms, and Hut 8 Mining Corp.Is bitcoin still in a bear market?Now, let’s look at it in another way. Simply put, the monthly business activity survey suggests the U.S. economy is keeping resilient in the face of the Fed’s aggressive rate hikes.That creates at least some room for the central bank to lift rates further to tame inflation which was still at 5.0% in March. It’s significant because the world’s largest cryptocurrency performed poorly last year amidst rising interest rates.Nonetheless, there’s reason to not read too much into the drop in BTC today, including the recent bank failures that could make the Federal Reserve revisit its hawkish stance. According to FxPro analyst Alex Kuptsikevich:Technically, bitcoin has already proven the end of the bear market by securing above key moving averages and steadily retreating from the bottom.The post Why did bitcoin mining stocks end down on Monday? appeared first on CoinJournal.

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