TronWeekly

Crypto World News

You are here: Home / Archives for Aditya

Aditya

Cardano’s Rise to Prominence: Analyst Charts ADA’s Superiority to ETH

by

The recent run of noteworthy successes for Cardano has analysts feeling optimistic. Prominent cryptocurrency expert Sebastian, often known as “Ssebi,” quickly offered a fresh viewpoint by outlining why ADA is superior than Ethereum. The most recent results from Messari show that Cardano’s Total Value Locked (TVL) increased by 693% YoY and 166% QoQ (quarter over quarter).

Similarly, the value of Cardano’s stablecoin increased by 673% YoY and 37% QoQ. Furthermore, during the past several days, ADA has seen a notable increase in the number of fresh wallet creations.

Ssebi started by highlighting the differences between Cardano and Ethereum, emphasizing how ADA charges less to traders than Ethereum, which has expensive gas fees. Additionally, Ssebi emphasized how easy it is to stake or unstake Cardano with a single click, in contrast to Ethereum where assets might be locked under smart contracts for extended periods of time, limiting user freedom.

Ssebi highlighted the ADA’s dependability by pointing out that, unlike ETH, users can execute transactions even when their ADA is staked. Ssebi also emphasized Cardano’s most recent Total Value Locked (TVL) figures, which show a discernible rise. He also mentioned ADA’s steady rise in NFT ecosystems, especially in Metaverse and play-to-earn (P2E) game projects.

As per Messari’s report, the price of ADA grew by 127.2% QoQ, surpassing the 53.8% gain in the cryptocurrency market as a whole. The report’s conclusion discussed how, overall, ADA has seen improvements in all of its major industries and domains.

Cardano Witnesses Surge in New Wallet Activity

Specifically, there was a noticeable increase in acceptance and interest in the Cardano network as evidenced by the daily count of new ADA wallets, which increased from 1,706 on February 22 to 3,219 by February 24. This increase is in line with ADA’s current price of $0.5861, which is up 1.6% against the dollar and 1.4% in relation to Bitcoin. Its 24-hour range is $0.581 to $0.5996. A growing amount of interest and faith in ADA’s future may be seen in the increasing number of wallets. Even though the number of new ADA wallets has recently increased, it’s important to consider this growth in the context of the ADA network’s larger patterns.

Remarkably, the number of new wallets created each day is still below the record high of 5,414 new wallets in a single day on February 2. Still, there are around 4.6 million Cardano wallets in circulation overall, and delegated wallets—those that actively participate in the network’s proof-of-stake consensus mechanism—number more than 1.3 million. This continuous expansion shows that the Cardano ecosystem has a strong and stable base, even in the face of shifting market conditions.

BitForex Exit Scam Unveiled: $55.6M Missing from Customer Funds

by

Bitforex, a cryptocurrency exchange based in Hong Kong, has stopped accepting withdrawals for at least three days without stating why. Approximately $56 million in cryptocurrency had been taken out of the exchange’s wallets before the halt.

BitForex
BitForex Exit Scam Unveiled: $55.6M Missing from Customer Funds 2

BitForex Under Fire for Alleged $55.6M Exit Scam

Blockchain expert ZachXBT raised concerns about activities on the BitForex cryptocurrency exchange on February 26 in an X post, suggesting that the platform may have been exit scammed. The investigation claims that on February 23, the exchange removed cryptocurrency valued at about $56.5 million from its hot wallets. ZachXBT continued, “The exchange stopped accepting withdrawals after that unusual withdrawal without providing an official explanation.

Since May 2023, there have been no updates to the exchange’s X account. Users of Bitforex are experiencing issues with their accounts on its official Telegram channel. These issues range from the dashboard not displaying any assets to the inability to access their accounts. A number of consumers say that they are unable to visit the company’s website and share the pop-up screen.

BitForex had a change of leadership in January following the resignation of CEO Jason Luo. Although Luo wrote in a blog post that he was confident in the ability of the new leadership team, the circumstances surrounding his leaving have sparked rumors in light of current developments. ZachXBT pointed out that the situation is made even more dire by the fact that the exchange still possesses a sizable amount of OMI and TRB tokens. ZachXBT has pinpointed particular wallets associated with this activity and advises keeping an eye out for any updates.

Based on market capitalization, Bitforex was one of the top cryptocurrency exchanges in the world in September 2023. It was exchanging almost $2.6 billion worth of cryptocurrency per day. CoinMarketCap does not currently offer real-time Bitforex data. Bitforex was charged by Japan’s Financial Services Agency (FSA) in April 2023 with breaking the country’s fund settlement regulations. The FSA and a few other platforms claim that the exchange has been operating in the nation without the required registration.

Since its founding in 2018, BitForex has received a lot of complaints from users, most relating to account bans that were purportedly caused by KYC requirements. The exchange has not made any public statements about the current events as of the time of publication.

Ethereum Whales Pull $64 Million From Exchanges as Prices Soar

by

According to estimates from Lookonchain, cryptocurrency whales have taken out over $64 million worth of Ethereum (ETH) from key exchanges in a noteworthy show of confidence in the platform. This noteworthy activity and the notable spike in the price of ETH coincide, generating more attention and speculative activity in the cryptocurrency market. According to Lookonchain, a sizable portion of ETH has been moved from exchanges to safer storage options. The Ethereum address 0x8B94 made a notable withdrawal of 14,632 ETH from Binance, which is estimated to be worth $45.5 million. These funds have been actively staked over the last six days, as opposed to sitting inert.

In addition, the examination revealed the appearance of two fresh whale wallets, which combined transferred 6,000 ETH, or $18.7 million, from Kraken to unidentified locations in the last 48 hours. This pattern indicates that large investors are becoming more inclined to acquire big amounts of Ethereum outside of exchange platforms.

These significant transactions take place in opposition to the current state of the Ethereum market, where the price of the cryptocurrency is $3,059, up 1.37% in the last day and impressively up 38.26% in the last month. Furthermore, during the same 24-hour period, Ethereum’s trading volume increased by 9.77% to $13,810,498,210, indicating increased activity and interest in the cryptocurrency market.

Massive Ethereum Whale Investments

On Sunday, February 24th, the price of Ethereum (ETH) spiked up to over $3,050, marking a new milestone for 2024 and stoking hopes for another bullish rise in the coming week. After Bitcoin ETFs were made available for weekly trading on February 23, on-chain data suggests that crypto whale investors are now paying more attention to ETH.

Unusually for the market, Ethereum has drawn more interest from investors than Bitcoin, surpassing the top cryptocurrency by more than 8% in the last week. According to recent patterns among cryptocurrency whales, ETH values are expected to surpass those of BTC in the following week. On a particular cryptocurrency network, the quantity of coins kept in the biggest wallets is displayed in Santiment’s Supply Held by Top Addresses chart. Notably, on Friday, February 23rd, the top 1,000 ETH wallets amassed a combined balance of 69.51 million ETH. But these top Ethereum holdings added 170,000 ETH over the weekend, bringing their totals as of Sunday, February 25th, to 69.68 million ETH.

The whale wallets, which are currently valued at $3,040 per coin, have made almost $514 million in investments in the past 48 hours. Prices rise when the biggest participants in an ecosystem make significant purchases in a brief amount of time.

Shiba Inu (SHIB) Continues Global Expansion: 1,200 Merchants in 25 Countries Onboarded

by

One of the most well-liked cryptocurrencies available is Shiba Inu (SHIB). SHIB has seen a notable increase in adoption in the little more than three years since its introduction. The most recent Apcopay integration with CoinPayments could expand the asset’s potential.

Apcopay has been integrated into CoinPayments’ platform, enabling customers to pay using cryptocurrency for goods and services. One cryptocurrency that users can use for payments is Shiba Inu (SHIB). More than 1,200 businesses from 25 countries use the site. The innovation may cause SHIB adoption to soar.

Shiba Inu
Shiba Inu (SHIB) Continues Global Expansion: 1,200 Merchants in 25 Countries Onboarded 6

The fact that SHIB clients now have access to 1200 merchants is a good development, but the asset’s price hasn’t been able to accelerate. SHIB has dropped by more than 29% since February 2023, 2.2% in the daily charts, and 4.3% in the weekly charts. Shiba Inu (SHIB) might reach $0.00001003 on February 26, 2024, according to CoinCodex.

Shiba Inu
Shiba Inu (SHIB) Continues Global Expansion: 1,200 Merchants in 25 Countries Onboarded 7

The platform does not, however, expect pricing to hold. SHIB might soon get back the zero it erased. Changelly expects Shiba Inu (SHIB) to do similarly as well. The platform states that while SHIB might remove a zero over the weekend, prices might not hold. Changelly believes SHIB will return to zero the following week.

On another note, Mysterious Giant Grabs up 293 Billion Shiba Inu (SHIB) in Surprise Move

Shiba Inu (SHIB) Stunner: 293 Billion Tokens Acquired by Enigmatic Entity

In the past 24 hours, an unidentified large whale has unexpectedly surfaced on the Shiba Inu token scene. Around 14 hours ago, address “0xEa74” got more than 293 billion Shiba Inu (SHIB), or $2.84 million, from address “0x5aA,” according to Etherscan. The destination address is brand-new, has never been used for a transaction, and only has SHIB as its only asset.

Shiba Inu
Shiba Inu (SHIB) Continues Global Expansion: 1,200 Merchants in 25 Countries Onboarded 8

It will become clear in the coming days by following this address if the transfer of Shiba Inu tokens to this wallet is the result of a calculated action by an unidentified major player or something else. Ultimately, though, this wallet has received more SHIB inflows than any other over the past 24 hours.

This whale is not alone, though, in its curiosity in SHIB. Trading volumes for the well-known cryptocurrency with meme influences have increased by more than 9.5% to $120.66 million during the last day, according to CoinMarketCap. This suggests that more market players are becoming interested in SHIB trading, which will provide more liquidity to the market and likely lead to an increase in volatility.

Shiba Inu’s Trajectory: Analyzing the Long-Term Potential for SHIB to Hit 50 Cents

by

Shiba Inu ventures into a new realm of innovation and exploration as it emerges as one of the pioneering entities to trial the DN404 standard. This novel hybrid token standard aims to amalgamate the most favorable attributes of both fungible and non-fungible tokens (NFTs). Reflecting on its initial purpose, Shiba Inu expresses its enthusiasm as it embarks on the experimental testing phase of the DN404 standards.

“Years ago, ShibToken marked the beginning of an adventure, pushing us beyond the boundaries of decentralization,” it said in a tweet.

According to Shiba Inu, this momentous DN404 experiment heralds a daring move into the future. At $0.000009831, Shiba Inu is attempting to remove its fifth zero from the charts. Approximately 1.3 million token holders exist globally, with the bulk having taken an entry position in late 2021 and 2022. Since then, only a small percentage of investors have made money with SHIB, with over 60% of them sitting on losses. Investors who want to see Shiba Inu reach $0.01 and $1 are having their patience tested by the current unfavorable price situation.

Shiba Inu Price Prognosis

The main constraint is the amount of SHIB that is currently in circulation; if the meme coin hits the $0.50 barrier, its market valuation would approach $294.5 trillion. It’s crucial to recognize that this circumstance can change significantly in the future. There is an argument that the increasing use of the Shibarium Layer 2 network, which burns SHIB tokens with every transaction, could result in a significant increase in the amount of SHIB in circulation. This is what CoinCodex’s long-term price projection indicates.

Shiba Inu
Shiba Inu's Trajectory: Analyzing the Long-Term Potential for SHIB to Hit 50 Cents 10

According to prominent on-chain metrics and price prediction company CoinCodex, a high of $0.000401 is predicted for Shiba Inu in 2050. The long-term 2050 price forecast states that SHIB will only be able to remove two zeros between now and 2050. Furthermore, that would represent an increase in return on investment (ROI) of around 4,000% from now through the following 26 years. SHIB’s long-term 2050 price prognosis does not indicate that it will reach $0.50. Estimates suggest that SHIB may not even hit the $0.01 milestone in the next 25 years, much less 50 Cents.

In conclusion, there is not much data to support the theory that Shiba Inu’s price will drop to 50 cents based only on burn rate. However, SHIB’s potential as an investment vehicle may potentially be strengthened by the SHIB burn. It seems improbable that Shiba Inu would achieve its long-term objective of 50 cents by 2050. According to estimates, SHIB will not reach $0.50 in 2050, but rather $0.000401.


Cryptocurrency Focus: 3 Coins with Potential Momentum in March

by

Following a tumultuous 2023, the cryptocurrency market appears to be on the upswing. The bitcoin industry seems to be rebounding after a turbulent 2023. The US Securities and Exchange Commission (SEC) recently approved the listing of eleven distinct firms, including major players in the market like Fidelity and BlackRock, as spot Bitcoin exchange-traded funds (ETFs).

It makes sense that retail investors’ interest in cryptocurrencies has increased in light of this SEC permission. Emerging competitors like Solana and Injective are vying for a piece of the digital market, even if well-established players like Bitcoin and Ether are anticipated to continue being important parts of investment portfolios.

It’s a good idea to examine current patterns and look for any possible upswings in the upcoming month as we approach March 2024. Three prominent coins—XRP, Ethereum, and Bitcoin—emerge as leaders, each expected to make big moves.

Crypto Market Insight

Bitcoin

The original cryptocurrency, Bitcoin, is still at the top of the market thanks to its strong infrastructure and broad user base.Bitcoin, the most established and well-liked cryptocurrency token available, was the catalyst for the whole industry. Since its modest start in 2009, it has reached incredible heights and attracted the interest of corporations, investors, and the media. The network is secured by Proof of Work consensus and is utilized as an alternative to cash payments. Every transaction is recorded on a blockchain, and miners are rewarded for validating each block of transactions. At $51,565.06, Bitcoin has a market capitalization of more than $1 trillion. Furthermore, the stability of Bitcoin and its attractiveness to institutional investors highlight its growing potential.

XRP

The price of ripple, commonly referred to as XRP, rose sharply in 2021 but fell sharply in 2022. One XRP coin was worth 0.54 US dollars as of February 25, 2024. In contrast, XRP failed to hit the milestone that Ethereum’s price proceeded to surpass in terms of all-time highs. Remarkably, unlike most other cryptocurrencies that saw their price increases in late 2020, XRP’s happened very late, mostly in early 2021. These increases came after Ripple was the target of a legal complaint filed by the US Securities and Exchange Commission (SEC) in November 2020, which precipitated a sharp decline in the price of XRP from approximately 0.70 to 0.20 USD.

XRP distinguishes itself from other cryptocurrencies by its practical use case and emphasis on enabling real-time, cross-border payments. XRP, with a market value of about $30 billion and a current price of $0.5452, is known for its low transaction costs, scalability, and speedy underlying technology called the XRP Ledger.

Ethereum

Despite not reaching its lowest known price, Ethereum’s price trajectory suggests that the cryptocurrency had much less value in 2022 compared to late 2021. Ethereum’s price increased in 2021 for completely different causes than that of Bitcoin (BTC). Notably, Ethereum gained notoriety when the world’s most expensive NFT—a digital artwork—sold for more than 38,000 ETH, or 69.3 million USD. Ethereum’s price increase was sparked by technological improvements that caused traders to become very excited, in contrast to Bitcoin, whose price spike was driven by the IPO of the largest U.S. crypto trader, Coinbase. Ethereum is a platform that powers the non-fungible token (NFT) and decentralized finance (DeFi) industries. It is well known for its smart contract capabilities.

Ethereum, which is currently valued at $3,000 and has a $357 billion market capitalization, promises better scalability and energy efficiency when it moves to a proof-of-stake consensus process with Ethereum 2.0.

Ethereum is also well-positioned for expansion, with a big upgrade in the works and an ETH ETF expected in the first quarter. This revolutionary update might cause significant price movement, solidifying Ethereum’s position as a leading innovator in the blockchain space.

Shiba Inu Price Prediction for February 29, 2024 by Machine Learning Algorithm

by

On February 19, there were more than 360 million network transactions overall, with a daily spike to 3 million. At the start of the month, there were more than 1.3 million wallet addresses and more than 3 million total blocks.

Launched in August of last year, Shibarium seeks to improve speed and lower transaction fees in order to meet the demands of the Shiba Inu ecosystem. According to some experts, the price of Shiba Inu’s could rise as a result of additional advancements in shibarium. The meme coin profited from the recent surge in the cryptocurrency market, although not to the same extent as other alternative coins.

Its gain over the last two weeks has been roughly 10%, and over the last month, it has been a moderate 3%. 37% of holders are benefitting at the current pricing, according to IntoTheBlock, which claims that the latest increase has changed trends. On the other hand, in September of last year, almost 90% of Shiba Inu investors saw a loss. Though the value of SHIB has fluctuated over the last several months, the Shiba Inu community is still devoted to their favorite cryptocurrency.

Shiba Inu Price Calculated via Advanced Machine Learning Algorithm

The price of Shiba Inu (SHIB) by the end of this month is predicted by machine learning and artificial intelligence (AI) algorithms to be cautiously optimistic, even if most cryptocurrency market assets head into the new week remaining mostly unsure of which direction their prices could move next.
According to the most recent data gathered by Finbold on February 5, the sophisticated algorithms used by the cryptocurrency and stock monitoring portal CoinCodex specifically forecast a minor upswing for Shiba Inu, having placed its price at $0.000009363 on February 29, 2024.

Shiba Inu
Shiba Inu Price Prediction for February 29, 2024 by Machine Learning Algorithm 13

In fact, the machine learning algorithm’s forecasts, which were derived from Shiba Inu’s past price fluctuations and additional factors, would indicate a gain of 4.46% from the stock’s price at the time of publication.

As of right now, SHIB’s price is $0.000008963. This represents a 0.74% loss over the last day and a 0.23% loss over the previous seven days, totaling a 6.47% loss on its monthly chart, based on the most recent data. Additionally, the 7-day technical analysis (TA) sentiment gauges on TradingView, a website that provides analytics on the finance and cryptocurrency sectors, indicate a degree of bearishness regarding SHIB.

Shiba Inu
Shiba Inu Price Prediction for February 29, 2024 by Machine Learning Algorithm 14

Their summary indicates a “sell” at 9, based on moving averages (MA) that indicate a “sell” at 8 and oscillators that are in the “neutral” zone at 9. In conclusion, it’s possible that Shiba Inu will end up costing the amount predicted by the computer algorithms.

Stellar (XLM) Emerges as Competitor with Introduction of Smart Contracts

by

The bullish price trend of the leading altcoins in the cryptocurrency market is a key indication of an alt season. Notably, the price value of Stellar (XLM) is experiencing a notable performance. In recent weeks, the Stellar (XLM) coin has had difficulty trading above $0.12. Nonetheless, the token’s price value has stabilized since the recent upward move.

To put things in perspective, market statistics indicate that the Stellar price performance during the last week was close to 4%, and over the last 30 days, it was 5%. As of now, the price of XLM has stabilized over $0.116. Over the past week, there has been an improvement in the XLM trading volume.

Stellar (XLM) Surpasses XRP with the Introduction of Smart Contract Functionality

A major turning point in the development of Stellar (XLM) has been reached with the deployment of the Protocol 20 upgrade on its mainnet. With the introduction of Soroban smart contract functionality, XLM is now positioned as a blockchain that can support both decentralized apps (dApps) and smart contracts. Stellar was first intended to be used for payments, but it has since grown to be capable of much more, especially in the context of the decentralized finance (DeFi) ecosystem.

This calculated move fits in with the way Web3 and blockchain technology are developing, which might help XLM take a bigger chunk of the cryptocurrency market—which is presently dominated by Cardano (ADA).

Stellar’s playing field has suddenly shifted since it can now contend with established blockchain networks for a portion of the Decentralized Finance (DeFi) user population. Since XLM was initially intended as a payment system, it poses a serious threat to Ripple Labs in the realm of monetary settlements.

Even if a smart contract is activated on the mainnet, decentralized apps can not surface for a while. Code stability testing, or Phase 0 of the Soroban rollout, was initiated by the upgrade. Applications can now begin to deploy, and Soroban contract transactions will be enhanced in Phase 1.

Phase 2 will see complete user-ready and constant development of smart contract capacity to enhance scalability. A precise release schedule for these phases has not been disclosed by the Stellar network, yet.

Bitcoin, Gold, or $1 Million USD Sought by Former UK Prime Minister

by

Breaking news is that even politicians want Bitcoin as a form of payment these days. The curtain is occasionally lifted, allowing the public to see behind closed doors into the inner workings of the system of power. Tucker Carlson told Glenn Beck earlier today about his struggles to persuade former UK Prime Minister Boris Johnson to give an interview where they could talk about Ukraine and Tucker’s recent trip to Russia. It was a little but meaningful piercing of the veil. It appears that Boris has been playing hard to get and that in exchange for an interview, Tucker needs to give him $1 million in US dollars, gold, or Bitcoin (BTC).

A really positive sign is that pay-to-play BTC is becoming widely accepted. The icing on the cake for this specific tale is that Boris Johnson is a member of the political class that has launched a concerted effort over the past fifteen years to portray Bitcoin as the medium of exchange used by drug traffickers and money launderers. It demonstrates that propaganda drenched in pure projection is what the political elite trades in.

They will be the first to demand BTC as payment for themselves and will make every effort to push the average person away from Bitcoin. If he is willing, they will even try to stop him from accessing it altogether.

According to Carlson, the former UK Prime Minister’s advisor got in touch with the journalist and said ‘He will talk to you, but it’s going to cost you a million dollars.’ Carlson stated, ‘He wants a million in U.S. dollars, gold or bitcoin – this just happened yesterday or two days ago!‘

Why Is Bitcoin Preferred?

One of the investments that has performed the best over the past ten years is Bitcoin (BTC). The price of BTC has increased from a low of $0.003 in 2010 to about $69,000 in 2021. Even though the asset’s price has dropped by roughly 25.5% from its peak in 2021, many analysts believe Bitcoin will soon return to its all-time high.

The trading activity of Bitcoin exchange-traded funds (ETFs) surged, making it the busiest day since the ETFs’ January US debut. The volume reached about $2 billion, a record not seen since January 11, 2024, the first trading day. The next round of BTC halving is scheduled for April, which may further increase the asset’s value.

Furthermore, in January, eleven spot Bitcoin (BTC) exchange-traded funds (ETFs) were approved by the US Securities and Exchange Commission (SEC), further solidifying BTC’s standing as a premier asset. Johnson is aware of Bitcoin’s outstanding performance over the last ten years and believes the market will continue on a similar path going forward.

VeChain: VET Integration Prospects Brighten as Leading US Exchange Takes Notice

by

VeChain ($VET), a cryptocurrency that has witnessed a price spike of more than 74% over the previous year, may likely see a big surge of over 3,000% by year-end, according to a well-known cryptocurrency analyst. Martinez’s over 45,000 followers received a message from the analyst on the microblogging network X, formerly known as Twitter.

The article outlined how, if “history repeats itself,” VET may see a bull run to $0.7 per token by November. However, the price needs to climb over $0.054 this week to validate the pattern. Martinez’s analysis reveals that a 595-day trading range preceded and succeeded VeChain’s historic price surge in 2020.

After moving in a range for over 644 days, VET has now broken through a resistance level. As of this writing, it is trading at $0.048, up more than 60% over the previous 30 days.

Lately, VeChain has seen a significant increase in price momentum. VET’s price has increased dramatically, it has gone up 50% in the past week. The main factors driving the rise in cryptocurrency are the growing consumer interest and the recent wave of corporate partnerships.
According to a recent development, VeChain’s enormous popularity and price increase have led US exchange Uphold to consider partnering with the network.

VeChain Partnership Speculation Arises from Uphold’s Head of Research

Head of research at Uphold Martin Hiesboeck talked about a potential VeChain deployment on cards on Twitter. Hiesboeck claims that Uphold has been recording an increase in VET trading activity, which has sparked interest in the token.

VeChain has been “spiking” lately on Uphold, according to Hiesboeck, who highlighted this as a sign of more user engagement on the network. The observation of this phenomenon coincides with VET’s exponentially strong pricing performance. The cryptocurrency has continued to rise, increasing by about 50% from $0.02977 to $0.05085, in that order.

Subsequently, Heisboeck revealed that an arrangement with VET might be imminent.

He continued by highlighting VeChain’s incredible development and the variety of its recent use cases.

VeChain, dubbed a layer 1 blockchain, aims to streamline business administration and supply chain procedures. This involves using distributed ledger technologies to create a steady data flow.
The two tokens that stand out on VeChain are the VET and VTHOR. The second token serves as “gas” to run the platform, whereas the first token is utilized to execute transactions. VET has the potential to be extremely important in “carbon, supply chain, international logistics, incentivized ecosystems, and automobile passports,” according to CoinMarketCap.