Day: January 24, 2024

Synthetix deploys first perpetuals protocol on Base

Synthetix’s deployment of V3 Perps on Base allows developers on the Ethereum L2 blockchain to create and launch their own crypto perpetuals products.
V3 Perps on Base will help Synthetix generate more trading volume for its perps across the Ethereum ecosystem.

Synthetix (SNX), a decentralized marketplace for crypto derivatives and real-world assets, has deployed the V3 of its perpetuals contracts protocol on Base. 

In an announcement on Wednesday, the platform said Perps V3 will offer developers direct access to the product solutions and liquidity needed when launching crypto perps.

Synthetix targets increased trading in Ethereum ecosystem

The deployment of Perps V3 makes Synthetix the first protocol to bring a major perpetuals contracts product to the Ethereum Layer-2 blockchain, the platform said in a press release.

With this launch, both Base and Coinbase ecosystem traders now have an easier way of experimenting with Synthetix-powered exchanges. These include Kwenta, Polynomial, and dHEDGE and the soon-to-launch perpetuals futures exchange Infinex.

Kain Warwick, founder of Synthetix, commented:

“Most crypto activity is not leveraging the decentralized technology we’ve built. Base serves as a gateway for the millions of Coinbase users. By deploying Synthetix Andromeda to Base, we aim to generate increased trading volume for Synthetix perps across the Ethereum ecosystem.”

According to the Synthetix team, Perps V3 aims at improving the experience of both traders and developers, with key features enabling this including use of alternative collateral for liquidity providers. While collateral has so far been limited to Synthetix’s native SNX token, V3 on Base adds USDC.

There’s also sUSD, sETH, sBTC, as well as other approved spot synthetic assets.

USDC’s introduction as collateral provides new opportunities for liquidity providers. It also adds to the overall flexibility traders on Synthetix will enjoy, while helping to curb SNX inflation. Cross margin capabilities, composable account management and deterministic settlements are also key improvements in V3.

The post Synthetix deploys first perpetuals protocol on Base appeared first on CoinJournal.

Algotech Presale Raised $1.1 Million In 2 Days And is Transforming the DeFi Landscape

London, United Kingdom, January 24th, 2024, Chainwire

Algotech (ALGT) is revolutionizing cryptocurrency trading with its advanced decentralized algorithmic trading platform, disrupting traditional manual trading methods. By utilizing cutting-edge algorithms and blockchain technology, Algotech ensures transparency, immutability, and security, overcoming the limitations of manual trading. Its platform is tailored for the dynamic realm of cryptocurrency trading, executing precise investment strategies.

In the world of algorithmic trading, Algotech (ALGT) stands out by leveraging data-driven analysis, complex algorithms, and automation, mitigating the impact of human intuition and emotions. This shift towards algorithmic trading, powered by machine learning and artificial intelligence, positions Algotech (ALGT) to capitalize on opportunities in rapidly growing markets, especially in cryptocurrencies.

The Algotech platform brings a myriad of benefits, ushering in a new era of trading efficiency. Algotech’s (ALGT) automation eliminates manual execution, reducing human biases and timing-related risks. With a strong emphasis on risk management and an advanced technical infrastructure, Algotech (ALGT) ensures a seamless and reliable trading experience for its users and investors.

Distinguishing itself with decentralized operations and advanced technologies, Algotech (ALGT) continuously improves its strategies. Offering a diverse range of algorithmic trading strategies tailored to various market conditions, Algotech allows users to align strategies with their risk tolerance and preferences. The platform’s robust technical infrastructure handles high trading volumes, delivering exceptional execution speed and minimizing downtime.

Emphasizing risk management, Algotech (ALGT) prioritizes the protection of users’ capital through careful risk assessment, position sizing, and portfolio diversification. By addressing challenges in traditional manual trading, Algotech’s algorithmic strategies provide advantages in data-driven decision-making, rapid execution, and scalability.

Algotech’s innovative approach to algorithmic trading represents a significant leap forward in the cryptocurrency trading space. By democratizing advanced trading capabilities and emphasizing efficiency, objectivity, and risk management, Algotech positions itself as one of the top DeFi projects and a leader in revolutionizing how traders engage in cryptocurrency markets.

ALGT Token: The ERC-20 Standard Token of Algotech

The ERC-20 token known as ALGT, resides on Algotech’s decentralized algorithmic crypto trading platform. Those who invest in ALGT early receive secure voting governance rights, partial ownership of the software, and a share in profits through dividends.

The ALGT token proceeds drive research and development in strategies such as hedging and mean reversion. Accompanied by a 30% performance fee from users benefiting from Algotech’s algorithms. ALGT investors will be eligible for passive and residual income opportunities through Algotech’s advanced technology.

Algotech (ALGT) Presale Details

The journey of Algotech’s (ALGT) public presale begins with an ALGT token priced at $0.04 in Stage 1. This presale came following the private seed sale, which saw Algotech raise $1.1 million in just two days of sale and over 55 million ALGT tokens sold.

With over 43.75 million ALGT tokens to be sold, Algotech kickstarted its public presale, opening the floor for investors to purchase the ALGT token on the Ethereum network (ERC-20).

About Algotech:

Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of trading. With its advanced algorithms and machine learning capabilities, Algotech empowers traders to navigate the complex markets with efficiency, precision, and accuracy.

Visit Algotech Presale

Join The Algotech Community

 

Contact

Mr
Algotech
Algotech Solutions
algotechsolutionsio@gmail.com
+447765968246

The post Algotech Presale Raised $1.1 Million In 2 Days And is Transforming the DeFi Landscape appeared first on CoinJournal.

Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit

MANTA, SUI, and PLX defy market downturn, showcasing resilience amid Bitcoin’s decline.
Manta Network surges on Bithumb listing and successful airdrop, capturing investor interest.
Pullix’s PLX presale gains momentum, offering an innovative “Trade-to-Earn” concept.

In the midst of a crypto market downturn triggered by Bitcoin’s recent price decline, some altcoins are defying the trend and experiencing significant growth. Manta Network (MANTA), Sui (SUI), and Pullix (PLX) have emerged as standout performers, showcasing resilience amid the broader market challenges.

Read along as we delve into the reasons behind Bitcoin’s slump and explore the notable rises of MANTA, SUI, and the ongoing presale of PLX.

Bitcoin’s decline and crypto market plunge

As Bitcoin faces increased volatility, the entire crypto market has witnessed a notable downturn. Bitcoin briefly dropped leading to millions in liquidations. Although BTC price has regained $40,000, the recent decline in Bitcoin’s price, coupled with broader market uncertainties, led to double-digit losses for various altcoins.

Investors are grappling with the impact of these market movements, which have contributed to a cautious sentiment and a temporary loss of support for many cryptocurrencies.

Manta Network (MANTA): defying the odds

Amid the crypto market turmoil, Manta Network (MANTA) stands out with a remarkable surge. Recent positive developments, including a listing on Bithumb and a successful airdrop for early supporters, have contributed to MANTA’s significant price increase. The token has seen a 30% surge in a single day.

MANTA price chart

The token’s resilience in the face of market challenges positions it as a noteworthy player in the decentralized finance (DeFi) landscape, garnering attention from investors seeking alternatives. Surprisingly, Manta’s surge comes against the backdrop of a major DDoS attack.

SUI token: a rising star

SUI, another altcoin in focus, has experienced notable growth despite the broader market uncertainties. The recent achievement of surpassing Bitcoin in Total Locked Value (TVL) following the approval of a spot Bitcoin ETF has propelled SUI into the spotlight.

With a surge of over 8% in the last 24 hours and more than 70% in the last 30 days, SUI is capturing the interest of investors looking for promising opportunities beyond the traditional crypto heavyweights.

SUI price chart

Pullix (PLX): shaping the future of crypto trading

Pullix, an innovative player in the crypto space, is currently in its presale stage, challenging the status quo of traditional exchanges. PLX, the native token of the Pullix ecosystem currently in its presale stage, introduces a novel concept of “Trade-to-Earn,” enabling users to earn rewards from the platform’s daily revenues.

The platform’s hybrid approach, combining the strengths of centralized and decentralized exchanges, aims to address liquidity issues and provide a comprehensive trading experience.

The PLX presale is gaining momentum and attracting investors in droves. As of the latest update, Pullix has raised $4,364,732, with a remaining supply of 15.1%. In the current presale stage, the PLX token is going for $0.08, with a price increase expected in a couple of days.

The presale, scheduled to progress through stages, offers users the opportunity to participate in the early growth phases of the platform. With a fixed supply of 200,000,000 PLX tokens and a strategic allocation across presale, rewards, team, exchange listings, and marketing, Pullix aims to create a robust and sustainable ecosystem.

Conclusion

In a crypto market characterized by fluctuations, Manta Network (MANTA), SUI, and Pullix (PLX) emerge as notable players exhibiting resilience and growth.

While Bitcoin’s recent decline has created a challenging environment, these altcoins showcase the dynamism and diversity within the crypto space. As investors navigate uncertainties, the unique features and positive developments surrounding MANTA, SUI, and Pullix contribute to their standing as intriguing options in the evolving landscape of digital assets.

The post Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit appeared first on CoinJournal.

Nexo seeks $3 billion in damages from Bulgaria over aborted investigation

Nexo says the investigations tarnished its reputation and hampered its growth.
Bulgarian authorities dropped the Nexo case in December 2023, citing a lack of evidence.

In one of today’s biggest cryptocurrency news, Nexo, a leading crypto lender that is reportedly seeking $3 billion in damages from Bulgaria.

Specifically, as Reuters reported on Wednesday, Nexo AG, a Swiss arm of Nexo Capital, says last year’s aborted criminal investigation completely destroyed the company’s expansion plans, including a potential US listing.

Nexo files for arbitration with ICSID

Nexo, in a filing with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), says Bulgaria’s investigation tainted its reputation. It also wrecked shareholder value.

As CoinJournal highlighted in December 2023, the Bulgarian prosecutor’s office announced a termination of the criminal investigations against Nexo and four of its executives, citing a lack of evidence.

The prosecution’s move followed nearly a year of investigations, with police having raided Nexo’s offices in the country’s capital Sofia in January 2023. Among the allegations levelled against the crypto lender and its top executives were money laundering, computer fraud and unauthorised banking activities.

Despite the dropped case, Nexo contends the damage from the raids and allegations was immense. It filed for arbitration with the ICSID on January 18. Reuters reports that Bulgaria’s finance ministry has acknowledged receipt of an arbitration request from the ICSID.

While officials say an inter-departmental committee will review this request and propose next steps, this does not constitute an “admission as to the substance of any claims or as an acceptance of any arbitral jurisdiction.”

ICSID, based in Washington, USA, is an international arbitration institution that handles disputes between countries and international investors. Some of the countries ordered to pay significant damages to companies include Pakistan, Ecuador, and Venezuela.

The post Nexo seeks $3 billion in damages from Bulgaria over aborted investigation appeared first on CoinJournal.

These altcoins are poised for growth amid recent Bitcoin decline causing $83M liquidations

Bitcoin’s recent dip below $40,000 triggered $83 million in liquidations.
Cardano (ADA) stands resilient, leading in development and boasting a diverse ecosystem.
Optimism (OP) gains momentum with the rising adoption of L2 solutions.

The cryptocurrency market is navigating turbulent waters as Bitcoin’s recent price decline triggered nearly $83 million in liquidations. The impact of this downturn is reverberating across the crypto space, presenting challenges but also opportunities for certain altcoins.

However, amid this chaos, altcoins like Cardano (ADA), Optimism (OP), and the new Memeinator (MMTR) meme coin are positioned for growth.

Bitcoin price decline sparks $83M liquidations

The crypto market witnessed a significant setback as Bitcoin’s price nosedived to $38,555 on Tuesday, triggering a cascade of liquidations totalling $83 million in the futures market.

Analysts attribute this sharp decline to several factors, including the recent approval of spot Bitcoin ETFs by the SEC. Traders, seizing the opportunity for profits, engaged in a sell-off that further fueled the downward trend.

Additionally, experts suggest a connection between the Bitcoin price decline and GBTC redemptions by the bankrupt crypto exchange FTX.

Cardano (ADA) emerges strong amid market downturn

While the broader market faces headwinds, Cardano (ADA) stands out with a surge in development activity, surpassing major players like Ethereum. With a bustling GitHub and a diverse ecosystem comprising 9.45 million projects and 6,332 unique tokens, ADA remains resilient.

Trading within the range of $0.418 to $0.724, ADA’s 10-day Moving Average at $0.504 and 100-day Moving Average at $0.452 provide stability. Despite market challenges, Cardano’s innovative prowess positions it as a potential growth asset, drawing attention with relentless progress.

Optimism (OP) gains momentum amid expanding adoption

Optimism (OP) experiences a notable uptick in value driven by increasing adoption of its layer-2 (L2) solutions. Boasting over 936,000 addresses currently in the money, OP’s sharp focus on crafting efficient and scalable Ethereum solutions is paying off.

Trading between $2.61 and $3.01, with support levels at $2 and $2.4, OP reflects a bullish trend. As the platform’s user base grows and infrastructure solidifies, Optimism remains poised for sustained growth in the competitive landscape of layer-2 solutions.

Memeinator emerging as an intriguing meme coin player

Amid these market fluctuations, Memeinator has emerged as an intriguing player, fueled by AI technology and a disdain for sub-par memes. The MMTR token presale has raised an impressive $3,887,372, nearing the $4 million mark across thirteen stages.

The MMTR token is going for $0.0197 in the current presale stage and is expected to rise to $0.0208 in the next stage. With the current stage more than 90% sold out, investors are angling to have a stake in this intriguing meme coin. If interested in the project, you could as well visit the Memeinator presale website to purchase your share of the MMTR tokens.

Memeinator’s approach involves leveraging AI insights and innovative products like the Memescanner and the Memeinator Game.

Conclusion

While the crypto market grapples with external factors, including the recent Bitcoin price decline and global economic challenges, altcoins like Memeinator (MMTR), Cardano (ADA), and Optimism (OP) could offer an alternative opportunity for crypto investors.

However, as investors explore opportunities, caution is advised, especially in the case of emerging projects like Memeinator, where risks and uncertainties warrant careful consideration.

The post These altcoins are poised for growth amid recent Bitcoin decline causing $83M liquidations appeared first on CoinJournal.

New Non-Custodial Telegram Trading Bot Bitbot Raises $300k In First 72 Hours Of Presale

New York, USA, January 24th, 2024, Chainwire

Within 72 hours of its presale launch on the 17th of January, Bitbot raised an incredible $300,000.

Bitbot aims to lead the market for Telegram trading bots, a rapidly growing segment of the trading app market that has seen a considerable $7 billion in lifetime trading volume.

Telegram trading bots let traders manage a cryptocurrency trading portfolio within Telegram’s app. In practice, this means those investors with heavy telegram usage, which of the 800 million active Telegram users is substantial, no longer need to operate across two applications to manage their trades: an exchange and the Telegram app. Furthermore, Telegram trading bots offer all of the automated trading features seen in exchange apps, bringing the best of two worlds together into one seamless package.

Bitbot’s Technical Product Advisor, Andrew Jacobs, commented: “As we experience a pivotal point in Web3’s evolution, I’m happy to announce Bitbot’s launch. Our mission is to equip retail traders with powerful institution-grade tools in a simple and intuitive trading interface that is backed by robust security. We have a great team and I am looking forward to driving the product’s evolution and meeting the Bitbot community on our regular AMAs, which will be announced on our social channels throughout the presale.”

The Bitbot team is looking to act quickly with a comparatively small $4.3 million raise target, predicting a rapid presale, with prices starting at $0.0100 and ending at $0.0200, potentially offering 100% gains for the early investors prior to the project listing. An additional incentive is the attractive proposition that Bitbot token holders will receive 50% of the company’s profits distributed as a percentage of their holdings once it launches this year.

Bitbot (BITBOT) is available to buy on the official site.

Bitbot’s Push for Mass Market Adoption

Telegram trading bots enhance convenience by enabling users to execute the entire trading process within Telegram, the preferred messaging platform for crypto, bypassing the frequently convoluted user experience associated with exchanges.

Whilst trading volumes on Telegram trading bots have been impressive, it’s obvious that there is still a majority share left in the pie currently dominated by traditional cryptocurrency exchanges. Even Bitspay, consistently ranked among the top 70 exchanges on CMC, has a volume similar to that of all the Telegram trading bots combined. The sheer scale of the opportunity becomes evident in terms of the potential market share, and it’s this kind of potential that’s driving the product and development team and Bitbot to deliver a product suitable for mass adoption.

This is arguably one of the issues with Bitbot’s competitors. Telegram trading bots can be stubbornly complex, with many relying on user commands to operate them. Furthermore, a number of security issues have plagued even the biggest players in the market, leaving a sour taste for some but a potentially very sweet upside for the Bitbot brand.

Bitbot takes both of these issues head-on. Firstly, it gets rid of the need for complex commands by offering an intuitive in-app interface that will be immediately recognisable to exchange users.

Secondly, it offers non-custodial trading, meaning users can integrate Bitbot with their cold wallets and eliminate the uncomfortable need to give up their private keys for the bot’s powerful automated trading features to kick in. This is supported by the brand’s partnership with secure custody technology developer Knightsafe, and is thus far an unprecedented offering in the Telegram trading bot market, a truly unique and innovative approach focusing on institutional-grade asset security.

The bot offers a myriad of advanced features that will appeal to both beginner and advanced traders, from copy trading to automated sniping.

Tokenomics and Presale Roadmap

As per the project’s whitepaper, the Bitbot presale will run through Q1 and see the project list on exchanges in Q2 (unless the presale sells out early, which is possible at the current trajectory).

Allocation details include 30% reserved for the presale, 20% for the development team, 14% earmarked for marketing, 3% for liquidity, 2.3% available to the community (comprising rewards and airdrops), and 10% allocated to a treasury.

The 20% designated for the development team will undergo a 1-year vesting period, ensuring long-term commitment from the team.

Bitbot’s Impressive Journey In the Crypto Market

Unibot and Banana Gun, competing trading bots, swiftly gained prominence, with Unibot’s token price passing $230 in just three months of launch. Investors in Unibot’s presale reportedly saw gains of around 200x, according to a recent CoinDesk article.

Bitbot hopes to follow in their footsteps and its impressive raise has been aided by its community, which rapidly grew over 90K followers on X and over 5100 members on its Telegram within a week of the presale’s announcement. The project is now already in Stage 2, with the token priced at $0.011 and only 9,200,000 tokens left before the price increases by 5% for Stage 3.

Bitbot hopes to attract presale investors on the heels of the recent Bitcoin ETF acceptance and increased trading activity in the cryptocurrency market. This has drawn a significant social following and been picked up by notable crypto publications like Invezz who have already listed Bitbot among their top cryptos for 2024.

About Bitbot

Bitbot is a new Telegram trading bot that aims to put institutional-grade trading tools in the hands of retail users, to enable them to trade using a variety of advanced features including sniping and copy trading.

Audited by Solid Proof, Bitbot focuses on security and follows the motto, “your keys, your assets.” To this end the project has partnered with Knightsafe to deliver the world’s first non-custodial telegram trading bot, mitigating against counterparty risk and reinforcing this with anti-MEV and anti-rug technology.

For more information and to buy Bitbot (BITBOT) users can visit Bitbot’s website.

Website
Whitepaper
Socials

 

Contact

CEO
Bitbot
pr@bitbot.com

The post New Non-Custodial Telegram Trading Bot Bitbot Raises $300k In First 72 Hours Of Presale appeared first on CoinJournal.

Appeals court orders an independent scrutiny of FTX bankruptcy

The federal appeals court in Philadelphia ordered that an independent examiner be appointed to scrutinize the FTX collapse.
Bankruptcy court judge John Dorsey had earlier denied the trustee’s request.

A federal appeals court has ordered following a three-judge bench decision that an independent examiner should scrutinize FTX’s bankruptcy case.

Federal court orders for appointment of an examiner in FTX case

The Associated Press reported on Tuesday that the appeals court in Philadelphia has reversed an earlier ruling denying a US bankruptcy trustee’s request for an independent examiner. US bankruptcy judge John Dorsey dismissed the trustee’s request in February last year.

Judge Dorsey had agreed with FTX’s argument that an examiner’s involvement would only duplicate what new CEO John Ray III, federal agencies and the committee of unsecured creditors was doing. 

FTX also argued that having an independent examiner was too costly.

But in its ruling last Friday, the appeals court agreed with the bankruptcy trustee’s position that FTX’s collapse, which followed allegations of massive fraud, warrants an independent review rather than rely on an internal investigation.

Judge Luis Felipe Restrepo, writing for the appeals court panel, noted that the trustee’s case raised “straightforward issues” and that the bankruptcy code provides for an independent examiner’s appointment.

An examiner, judge Restrepo said, will make public all findings. Debtor or creditors’ committees do not have such an obligation.

FTX filed for bankruptcy in November 2022 and its founder and former CEO Sam Bankman-Fried is awaiting sentencing after he was found guilty on all charges, including fraud. The sentencing is scheduled for March 2024. 

Earlier this month, US prosecutors hinted at not pursuing a second trial for Bankman-Fried.

The post Appeals court orders an independent scrutiny of FTX bankruptcy appeared first on CoinJournal.

Ethereum Classic, Blur, and Rebel Satoshi: experts share their price predictions for early 2024

Experts are bullish on Blur (BLUR) in 2024, predicting a surge for the DeFi coin price to 2.3500 by the end of the first quarter.
Price predictions for Ethereum Classic (ETC) inspire hope among investors.
Top ICO experts advise investors to get in on Rebel Satoshi ($RBLZ) for the best ROI.

According to crypto market experts, the recent Bull Run suggests that investors in top crypto coins may find success in a few projects, such as Rebel Satoshi, as well as certain top DeFi projects, such as Blur and Ethereum Classic. 

Let’s look at what sets $RBLZ apart from the crowd of altcoins, like BLUR, ETC, as one of the best cryptos to buy in early 2024. 

Analysts predict a significant uptick for BLUR

As of December 18, OKX’s NFT platform outperformed the 24-hour trading volume of Blur, a well-known NFT marketplace. However, two weeks later, the Blur marketplace has recovered, accruing more volume to claim second spot among the NFT marketplaces in terms of volume. 

Following these developments, the value of BLUR has risen. The value of Blur on December 18 was $0.4324. Since then, the BLUR token price has risen to $0.6664 on January 19, indicating a 54.12% increase. Experts are pleased with these developments and have predicted that the price will rise further to $2.3500 by the end of the first quarter.

On the contrary, in their price forecasts, some other BLUR analysts have cited price volatility as the reason why BLUR will decline in value to $0.1600 by the end of the first quarter. 

ETC surges after the dissolving of ETHW Dev team

Recent news reports from the Ethereum Classic ecosystem claim that the Ethereum Proof of Work’s main development team was dissolved on December 19 to transition to community governance. This has translated to a proposal for a similar action for Ethereum Classic. 

The value of ETC on December 19 was $19.71. In the two weeks since then, the DeFi coin price has risen to $24.75 on January 19, indicating a 25.57% increase in ETC’s valuation.

Regarding the ETC price prediction, experts on Ethereum Classic have expressed satisfaction over these developments and have predicted that the value of ETC will see a further rise to $40.00 by the end of March.

Conversely, some other analysts of Ethereum Classic have cited the lack of partnerships in the Ethereum Classic ecosystem as the reason why ETC could decline in value to $15.50 by the end of March.

Rebel Satoshi (RBLZ) continues to rise in presale

Rebel Satoshi has distinguished itself as an interesting investment option among a sea of cryptocurrency meme currencies. This meme coin, inspired by Satoshi Nakamoto and Guy Fawkes, has piqued investors’ interest even in the pre-sale stage. Rebel Satoshi’s native token, $RBLZ, aims to usher in a new era of decentralization. Its goal is to create a community that allows underdogs to collectively oppose centralized systems.

Rebel Satoshi‘s native coin, $RBLZ, has set presale records as the Early Bird Round 1 and Rebels Round 2 sold out completely in 10 and 15 days, respectively. Additionally, in the just finished Citizens Round 3, $RBLZ traded for $0.020. Over 120 million $RBLZ tokens have been sold thus far, with the Monarchs Round 4 of the Rebel Satoshi presale currently underway, seeing $RBLZ valued at $0.022.

This pricing provides a 120% ROI for those who bought $RBLZ at the $0.010 Early Bird Round price. When $RBLZ reaches its listing price of $0.025 in February, it will reward early investors with a 150% ROI. 

For the latest updates and more information, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

The post Ethereum Classic, Blur, and Rebel Satoshi: experts share their price predictions for early 2024 appeared first on CoinJournal.

Bitcoin slips below $40k as Bitbot’s presale surpasses $300k

Key takeaways

Bitcoin has declined below the $40k level for the first time in nearly two months.

Bitbot’s presale has raised more than $300k a week after its launch.

Bitcoin’s selling pressure continues as BTC dips below $40k

Bitcoin, the world’s number one cryptocurrency by market cap, has been underperforming over the last few days. It is down by more than 20% since the spot Bitcoin exchange-traded funds (ETFs) were approved two weeks ago.

At press time, the price of Bitcoin stands at $39,761, down by roughly 1% in the last 24 hours. Despite the current bearish trend, market participants still expect the bull market to launch in full force this year.

The Bitcoin halving is barely three months away and it usually signals the beginning of a Bull Run. If the bullish cycle commences this year, Bitcoin and altcoins could record massive gains in the coming months. 

What is Bitbot? 

The current bearish trend in the market hasn’t put a dent in the Bitbot presale. It has been a week since the Bitbot presale began and it has already crossed an important milestone. 

The rising demand for Bitbot’s token can be attributed to its unique value proposition in the market. Bitbot is a Telegram trading bot that puts the power in the hands of the user. It is a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. 

Bitbot provides an innovative way of trading as it leverages Telegram’s position as one of the leading social media platforms for crypto users. 

Per the development team, Bitbot will provide numerous powerful features to help traders grow their trading portfolios. The features would be institutional-grade, granting them access to world-class trading functions.

The Bitbot team comprises individuals with vast experience in various fields including traditional finance and blockchain. With Bitcoin expected to reach new highs in the coming months, trading volume will skyrocket in the crypto market if that happens. 

Bitbot’s trading innovations

Bitbot is working to develop excellent trading tools for traders. With the right level of adoption, its native token could become one of the biggest winners in the bull cycle. 

An exciting aspect of Bitbot is that the tool prioritises security. According to the team, Bitbot will work with Knightsafe to offer a self-custody solution. Thus, mitigating the typical risks associated with Telegram trading.

Part of the funds raised from the presale will be directed towards the development of anti-MEV and anti-rug solutions for users to protect their assets. These features would enable traders to protect themselves from bots artificially pumping transaction costs and block scam projects.

BitBot uses an ultra-flexible wallet management fuelled by non-custodial API technology. The trading tool also uses the open-source smart contract wallet to provide a way superior security level for the non-custodial solution to users.

Bitbot is working on a copy trading feature that would allow investors to copy the trades of the strongest performing wallets based on on-chain activities; predicted to be one of the most popular aspects of the product.

Bitbot raises over $300k in a week

The Bitbot presale is moving on excellently. The team has raised more than $300k a week after the presale began. The presale is currently in its second stage and the team is close to reaching the $410,000 target set for this round. 

The new milestone of $300k shows that Bitbot is gaining fast adoption within the cryptocurrency space. The $BITBOT token is going for $0.0105 in the current presale round and will increase to $0.011 once the third round commences. 

Per the whitepaper, 20% of tokens will be held by the Bitbot development team to fund ongoing development. 14% to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Could Bitbot be a top performer in 2024? 

The US SEC has already approved spot Bitcoin ETFs and the Bitcoin halving is 89 days away. These catalysts could help push Bitcoin’s price to a new all-time high this year and the broader crypto market could benefit.

The Bull Run could favour low-cap gems and Bitbot could be one of the biggest winners. Bitbot is putting in the work to become an excellent project for cryptocurrency traders.

The post Bitcoin slips below $40k as Bitbot’s presale surpasses $300k appeared first on CoinJournal.


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