Day: April 1, 2024

Tether now the seventh-largest Bitcoin (BTC) holder

Tether recently committed 15% of its net profit to Bitcoin investments.
On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2.94B.
Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

Tether, the leading issuer of USDT, has emerged as the seventh-largest holder of Bitcoin (BTC) after a strategic acquisition of 8,888 BTC on March 31, valued at $618 million.

The latest purchase substantially bolstered Tether’s Bitcoin holdings, bringing the total to 75,354 BTC. The acquisition, executed at an average price of $30,305 per BTC, has proven to be astute, with the market value now standing at $5.2 billion.

CoinStats data indicates an impressive 128% increase in the value of bitcoins in the wallet that made the latest BTC acquisition, translating to an unrealized profit of $2.94 billion.

Tether’s strategic Bitcoin acquisition

Tether’s decision to secure a substantial amount of Bitcoin comes at a time when institutional interest in the leading cryptocurrency has surged.

Fueled by the approval of United States spot Bitcoin ETFs and anticipation surrounding the Bitcoin halving, Tether’s move reflects a strategic response to the evolving landscape of digital assets.

Tether’s ascent to becoming a major Bitcoin holder underscores its commitment to diversifying the backing assets of its stablecoins.

With a declared intention to allocate 15% of its net profit towards Bitcoin investments, Tether aims to strengthen its position within the cryptocurrency market and further solidify its role as a key player in the digital asset space.

This strategic move not only elevates Tether’s standing within the cryptocurrency community but also highlights the growing importance of Bitcoin as a core asset in institutional investment portfolios.

As Bitcoin continues to gain traction as a store of value and an investment asset, Tether’s strategic investment strategy underscores its vision to remain at the forefront of innovation and disruption in the evolving landscape of finance and technology.

The post Tether now the seventh-largest Bitcoin (BTC) holder appeared first on CoinJournal.

Bitget lists Ethena (ENA) Ethereum-based Synthetic Dollar Protocol on Launchpool

Victoria, Seychelles, April 1st, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the listing of Ethena (ENA) token, the governance token for Ethena, which is the protocol for the synthetic crypto-native dollar. The token is available on Launchpool, where users can stake BGB and USDT to farm ENA.

As a synthetic dollar protocol built on Ethereum, Ethena provides a crypto-native solution for money without relying on traditional banking system infrastructure. Ethena’s synthetic dollar called USDe is the first censorship-resistant, scalable, and stable achieved by delta-hedging staked Ethereum collateral. USDe is fully backed transparently onchain and free to compose throughout DeFi. USDe peg stability is ensured through the use of delta hedging derivatives positions against protocol-held collateral.

On release, Ethena’s users will be able to access external AMM pools to acquire or sell USDe with stablecoin collateral such as USDT or USDC. The mechanism backing USDe will enable the first “Internet Bond” that will sit alongside the synthetic dollar, offering a crypto-native, yield-bearing, dollar-denominated savings instrument, derived from staked Ethereum returns and the funding and basis spread available in perpetual and futures markets.

Bitget Launchpool enables users to stake and earn tokens with user-friendly terms and conditions. By staking BGB or other coins into the Launchpool, users have the chance to earn free airdrops, earnings, and access to a substantial prize pool. The estimated ROI is available for viewing on the Launchpool page with the flexibility to withdraw staked assets into the broader DeFi ecosystem with Bitget Wallet.

Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, the platform is now one of the top 10 crypto spot trading platforms with over 700 coins and 800 pairs, including tokens from trending DeFi sectors. In 2023 alone, the platform added over 350 new listings, further diversifying investment options for users. Meanwhile, Bitget Wallet supports over 100 mainnets and 250,000+ tokens. Its on-chain trading function Bitget Swap enables cross-chain trading between nearly 30 mainnets.

To participate in Ethena Launchpool, visit – https://www.bitget.com/support/articles/12560603807489

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

 

Contact

Bitget
PR Team
media@bitget.com

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Core DAO’s CORE surges 200%: here’s what’s driving the price rally

CORE DAO’s token, CORE, sees a 67% surge reaching $2.75.
Several institutional investment funds have shown interest in CORE.
Technical indicators signal a bullish trend for CORE, despite the high RSI suggesting potential overvaluation.

The price of Core DAO’s native token, CORE, has experienced a staggering surge of over 200% within a week, capturing the attention of cryptocurrency investors.

This surge prompts an investigation into the factors fueling CORE’s rapid growth and its implications for the broader cryptocurrency industry.

CORE price performance

CORE DAO operates as an L1 blockchain supporting Ethereum Virtual Machine (EVM), enabling the execution of Ethereum smart contracts and decentralized applications (dApps). Its native token is referred to as CORE.

With its “Satoshi Plus” consensus mechanism, CORE combines delegated Bitcoin mining hash with delegated Proof-of-Stake (DPoS) for security. CORE serves as both the utility token and governance token of the Core network, facilitating various functions such as paying transaction fees, staking on the Core network, and participating in on-chain governance.

CORE’s recent price surge has astonished market observers, with the token’s value soaring by an impressive 67.25% in just one day, reaching $2.75.

CORE price chart

 

This surge has propelled CORE to the 54th position in market cap rankings, showcasing its significant market influence. Moreover, trading volume for CORE has surged by 148.07% in the last day alone, indicating heightened investor engagement and liquidity in the market.

CORE’s supply dynamics reveal that 875,161,702 tokens are currently in circulation, representing approximately 41.67% of its total supply of 2.1 billion tokens. With a fully diluted market cap of $5.78 billion, CORE’s potential market reach is substantial, enhancing investor confidence and interest in the project.

Technical indicators further support the bullish sentiment surrounding CORE. Exponential moving averages (EMAs) for 50, 100, and 200 days signal a bullish trend, acting as crucial support levels for price movements.

The MACD line indicates a positive sentiment, strengthening the bullish momentum for CORE. However, the high RSI suggests that the asset may be overvalued, potentially leading to significant price fluctuations.

Why is the CORE price rallying?

The recent surge in CORE’s price can be attributed to various factors, notably the endorsement from Coretoshis Lab. This endorsement highlighted the involvement of over 100 crypto institutional investment funds planning to purchase and hold CORE in the current year, instilling confidence in investors and attracting attention to the project.

💥Explosive News🔥

An anonymous person who does not want to reveal his name is preparing to push the price of #CORE to $100 before #Bitcoin halving.

The credibility of the news is very high. It is expected that 100+ crypto institutional investment funds will buy & hold $COREpic.twitter.com/zeE6R761lL

— Coretoshis🔸Lab (@Coretoshis_Org) March 29, 2024

Coretoshis Lab’s optimism about CORE’s future trajectory, coupled with references to “going to the Moon” and promising prospects for CoreDAO in 2024, has fueled FOMO among investors eager to capitalize on its upward momentum.

The Core Chain x Multibit/Bitstable: Core Journey Campaign also kicked off today (April 1, 2024) further fuelling the positive sentiment around CORE cryptocurrency. 

The Core Chain x @Multibit_Bridge x @bssbstable Core Journey Campaign is now live.

Join for a chance to win prizes 🎁

All you need to do is complete the tasks on @taskonxyz👇https://t.co/ExOI4h1rHW pic.twitter.com/ww0FgHUnOs

— Core DAO 🔶 (@Coredao_Org) April 1, 2024

The post Core DAO’s CORE surges 200%: here’s what’s driving the price rally appeared first on CoinJournal.

Bitfarms mines less BTC in March despite expanding its mining Fleet

Bitfarms mined 286 BTC in March, down from 300 in February.
Bitfarms’ fleet upgrade aims for 21 EH/s and 21w/TH efficiency.
Bitfarms sold 284 BTC increasing treasury holdings to 806 BTC.

Bitfarms Ltd. (BITF), a prominent global Bitcoin mining company, experienced a slight dip in its Bitcoin (BTC) production for the month of March 2024, despite its ongoing efforts to expand and upgrade its mining fleet.

Bitfarms mined a total of 286 BTC in March 2024, down from the 300 BTC mined in February.

This decline in production can be attributed to various factors, including participation in grid-stabilizing curtailment programs and power plant maintenance activities in Argentina.

Additionally, a temporarily lower average operating EH/s and a 4.8% increase in network difficulty compared to the previous month also contributed to the decrease in BTC production.

Bitfarms’ fleet upgrade and expansion plan

Despite the decrease in BTC production, Bitfarms seems to be very committed to enhancing its mining capabilities.

The company has been actively pursuing its fleet upgrade and expansion plan, aiming to reach 21 EH/s and 21w/TH in 2024.

To achieve this goal, Bitfarms has made significant investments, including the purchase of 28,000 Bitmain T21 miners, along with additional S21 miners and S21 hydro miners.

These acquisitions are part of Bitfarms’ strategy to improve operational efficiency and capitalize on the potential for increased mining margins amid rising Bitcoin prices.

Current financial standing and future outlook of Bitfarms

Bitfarms sold 284 out of the 286 BTC earned in March, generating total proceeds of $19.2 million.

Furthermore, Bitfarms increased its BTC treasury holdings to 806, valued at $56.7 million, and held Synthetic HODL™ of 85 long-dated BTC call options, along with $66 million in cash, resulting in total liquidity of $123 million.

Looking ahead, Bitfarms remains optimistic about its growth prospects.

The company is set to participate in several upcoming conferences and events, including DigitalABC’s First Annual Canadian Crypto Asset and Blockchain Policy Conference and the Bitcoin Policy Summit.

With its ongoing fleet expansion efforts and a focus on operational efficiency, Bitfarms is well-positioned to navigate the evolving cryptocurrency landscape and capitalize on opportunities in the market.

By diligently expanding its mining fleet and adapting to market conditions, Bitfarms continues to solidify its position as a key player in the Bitcoin mining industry.

The post Bitfarms mines less BTC in March despite expanding its mining Fleet appeared first on CoinJournal.

Thailand’s Bitkub laying the ground for its IPO

Bitkub, Thailand’s top crypto exchange, plans IPO in 2025 to boost its profile and raise funds.
IPO preparation includes hiring advisors.
Bitkub eyes global expansion amidst rising competition & regulatory scrutiny.

Bitkub Capital Group Holdings, the parent company of Bitkub Online, Thailand’s largest cryptocurrency exchange, is laying the groundwork for a monumental step forward — their Initial Public Offering (IPO) slated for 2025.

CEO Jirayut Srupsrisopa, also known as Topp, has indicated that the IPO aims to elevate Bitkub’s presence and secure vital funding for future endeavours.

Bitkub is currently in the process of enlisting financial advisors to facilitate the IPO listing, reflecting a strategic move towards enhancing its market standing amidst intensifying competition.

Bitkub Online, the exchange platform, is valued at approximately $165 million, a figure expected to surge as trading volumes surpass previous records. The company’s commitment to expansion extends beyond Thailand, with plans to explore listing opportunities in global financial hubs like Hong Kong, signalling ambitions for broader market penetration and enhanced visibility.

Bitkub’s proactive approach underscores its determination to navigate evolving market dynamics while capitalizing on emerging opportunities in the crypto landscape.

Navigating challenges amidst growth trajectory

Despite its promising trajectory, Bitkub faces challenges on multiple fronts.

The emergence of competitors such as Binance Thailand poses a formidable threat, intensifying the battle for market dominance. Moreover, regulatory scrutiny and setbacks such as the cancellation of a potential acquisition deal with Siam Commercial Bank (SCB) in 2022 underscore the complexities inherent in Bitkub’s journey towards sustained growth.

Nonetheless, Bitkub remains undeterred in its pursuit of market leadership and innovation. The exchange’s recent trading volume, exemplified by approximately $81.5 million in spot trading within 24 hours, reflects its active participation and influence in the crypto market.

With meticulous planning and strategic initiatives, Bitkub aims to leverage its IPO as a catalyst for transformative growth, solidifying its position as a prominent player in the global cryptocurrency landscape.

The post Thailand’s Bitkub laying the ground for its IPO appeared first on CoinJournal.

Race to $1: can Dogecoin reach the magic mark before rival?

Dogecoin (DOGE) recently saw a 15.15% rise, prompting promising price forecasts.
Rebel Satoshi ($RECQ) remains some analysts’ top pick for the best coin to invest in.
Some forecasts suggest the $RECQ token could be set to surge by 85%.

Rebel Satoshi has established itself as a promising cryptocurrency project joining the league of top altcoins like Dogecoin (DOGE). The two altcoins – $RECQ and DOGE – have received bullish forecasts from top crypto experts who believe they could be among the best cryptos to invest in at the moment. 

Let’s delve into the reasons behind these expert recommendations.

DOGE could surge to $1 despite Mishaboar warning 

The Dogecoin community has once again found itself under the spotlight, receiving a major warning aimed at ensuring the security of data and coins. Mishaboar, a vocal member of the Dogecoin community, took to X on March 8 to caution users against interacting with the dogechain website. This alert stemmed from allegations of suspicious activity and potential security vulnerabilities associated with dogechain.com.

Contrary to the expectations of Dogecoin experts, the value of DOGE has experienced a significant improvement since this warning. DOGE’s value rose from $0.165 on March 8 to $0.190 on March 27, representing a remarkable 15.15% surge. This positive trajectory has fueled optimism within the larger expert community, with predictions suggesting that DOGE’s value could soar to $1 by May.

However, not all analysts share this bullish sentiment about Dogecoin. Some have voiced their disagreement with this assessment, citing DOGE’s historical price patterns as one of the primary reasons behind their stance. These analysts believe that DOGE will instead witness a decline, with its value potentially dropping to around $0.145 by April.

Rebel Satoshi’s $RECQ token Soars in fresh presale

Rebel Satoshi continues to experience a meteoric rise, fueled by its core ethos of decentralization and community empowerment. The project aims to reshape the financial paradigm by cultivating a decentralized ecosystem driven by the collective power of its community members.

At the heart of the Rebel Satoshi ecosystem lies a robust dual-token economic model designed to grow alongside the community. The lifeblood of this ecosystem is the Rebel Satoshi OG Token, $RBLZ. Now officially listed on decentralized exchanges, $RBLZ is a community-driven meme coin that symbolizes revolt, unity, and decentralization.

Complementing the $RBLZ token is the everyday utility token, $RECQ, which will support all transactions, purchases, fees, and rewards within the ecosystem. As the Rebel Satoshi ecosystem continues to expand with multiple levels and components, $RECQ’s 3-billion supply ensures liquidity, rewards community involvement, and drives growth within this vast decentralized world.

The perfect synergy between $RBLZ and $RECQ exemplifies the essence of the Rebel Satoshi movement: resistance, togetherness, and the power of decentralized action. Together, these two tokens create a revolutionary crypto experience that is rich, engaging, and extremely rewarding, embodying the spirit of the Rebel Satoshi ethos.

For those who missed out on the historic $RBLZ presale, the presale price of $RECQ at $0.002 presents a highly affordable opportunity. Secure your investment at the best price before $RECQ rises by 85% and reaches $0.0037 by the next round of its presale

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

The post Race to $1: can Dogecoin reach the magic mark before rival? appeared first on CoinJournal.

Dogecoin payment for Tesla hint by Elon Musk causes a stir among meme coin prices

Elon Musk is optimistic about Dogecoin payments for purchasing Tesla cars.
NuggetRush price rises to $0.019 per token in the launchpad presale round.
Analysts believe meme coin prices could soar this year.

Elon Musk, the CEO of Tesla Inc., has been a big fan of Dogecoin (DOGE) for a while. He started talking about it back in 2019, saying he thought it was a pretty cool cryptocurrency. 

Back then, not many people knew about Dogecoin. It took a bit of time and some more posts from Musk, along with a big increase in cryptocurrency prices, for Dogecoin to become popular. Musk has recently mentioned that you can buy Tesla merchandise with Dogecoin. This makes it seem like Tesla might start letting people use Dogecoin to buy cars too, since it already has a system for dealing with Dogecoin transactions.

Then we also have a few Dogecoin variants in the meme coin market which are showing great progress this year. One notable name that stands out is NuggetRush (NUGX), which some analysts consider a heavyweight against other memecoins. While all meme coin prices have increased this year, it is worth noting that investing in real-world utility coins gives you an added advantage.

Dogecoin seems to be the preferred cryptocurrency for Elon Musk

This crypto coin went viral, making some people rich and getting a lot of attention in the news. In 2021, Dogecoin reached its highest price ever, hitting $0.7376. Even though it dropped after that, it’s starting to become a top altcoin again in 2024. There’s more to know about how Tesla deals with cryptocurrency. In 2021, Musk and Tesla started letting people pay for Tesla cars with Bitcoin, but they stopped doing it a few months later. Musk said it was because of environmental issues.

He said, “Tesla isn’t letting people buy cars with Bitcoin anymore. We’re worried about how much fossil fuels are being used to mine Bitcoin and do transactions, especially coal, which is the dirtiest kind of fuel.” This is important because Dogecoin is based on Bitcoin and uses a lot of the same technology. That means Dogecoin also uses a lot of energy, even though it’s not as much as Bitcoin. This might be something Musk thinks about when he’s deciding whether Tesla should start taking Dogecoin payments again.

Even though Tesla stopped taking Bitcoin payments before, Musk’s recent comments about Dogecoin made the market happy. Dogecoin price went up by 15% this month. It’ll be interesting to see if Musk decides to look more into Dogecoin and if you’ll be able to buy a Tesla with it in the future. One thing is sure it has entered the preferred altcoin list for 2024.

NuggetRush offers real-world utility on its platform

Nugget Rush is the latest entrant in the world of meme coins that offers real-world features to their investors. First of all, it has a P2E gaming model that gives you a chance to earn real money by playing online games. It has already raised $3.5 million worth of investment from keen investors in the presale rounds. Some analysts believe it could be the best crypto investment for those who are interested in online gaming and NFT items.

The online NuggetRush marketplace has various trending NFT collections for you. You can stake these collections to get an extra 20% returns every year. So, if you are looking for the best NFT to buy right now, then it might be worth analyzing NuggetRush. The gaming characters will mesmerize you with their features and playing activities. Moreover, you won’t have to pay any online taxes to buy or sell the NUGX tokens. This way you can save some money that you pay on other platforms.

It is also giving a helping hand to miners living in the underdeveloped nations. This way, it is contributing to a social cause that needs attention. It is an altcoin to watch out for a reasonable price of $0.019 with excellent functionalities. 

Conclusion

As Elon Musk continues showing his dedicated support for Dogecoin, it is evident that one day you will be able to buy a Tesla car with the crypto coin. 

Other meme coins have soared in value after this announcement, and the biggest beneficiary could NuggetRush which has seen investors flock to its presale.

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