Market

Why experts are backing cryptos like Vantard, MEW, and Popcat

Published

6 hours ago

October 25, 2024

admin

Cryptocurrency prices are doing well this year, with most of them outperforming traditional assets like the S&P 500, Nasdaq 100, and the Dow Jones. These indices have all jumped by over 15%, while Bitcoin has risen by almost 60%, and is hovering near its all-time high.

MEW and Popcat tokens are soaring

Cat in a dogs world (MEW) and Popcat (POPCAT) have soared by over 1,000% this year, giving them a market cap of over $1 billion. Analysts believe that these tokens have more upside in the coming months because of their deep liquidity, fear of missing out (FOMO), and their substantial volumes in the spot and futures market.

MEW and Popcat also have positive technicals, with the two of them rising above their short-term and medium-term moving averages. On top of this, there are signs that Bitcoin may be about to have a bullish breakout, which could see it jump to a record high.

It has remained below the key resistance level at $70,000 this week, meaning that it only needs one catalyst to have this breakout. Many experts believe that this rally is possible. For example, analysts at Bernstein have predicted that it will rise above $200,000 in 2025. John Paulson, a billionaire investor, has also expressed optimism in Bitcoin.

A strong Bitcoin breakout would be a positive thing for meme coins like Cat in a dogs world and Popcat. Historically, as we saw earlier this year, meme coins do better than Bitcoin when it makes a bullish breakout.

Vantard may be the next big thing

Crypto analysts and investors are now betting on Vantard, an upcoming meme coin inspired by the success of Vanguard, the second-biggest asset manager in the world with over $7 trillion in assets under management.

Vantard started its pre-sale event this week and has raised $163,000 from global investors in its first stage. The initial price was $0.00010, and will increase across the ten stages, with the next price being $0.00011, a 10% increase.

According to its white paper, 75% of the dedicated treasury funds will be allocated to fundraising. 5 billion tokens went to the pre-seed round, while the ongoing seed fund will have a limit of 40 billion tokens, equivalent to 55.56% of the total. The other 40 billion tokens will go to series A and series B.

Vantard’s key to success is what it calls the first-ever Meme Index Fund (MIF), which aims to give investors access to the best-performing meme coins in a single asset.

The fund will be fully decentralized, with its profits being distributed to holders through the $VTARD token. This fund is inspired by popular Vanguard exchange-traded funds (ETF) like the one tracking the S&P 500 index, which has added over $60 billion in assets this year.

Vatard’s MIF fund will also have a surge pricing model, where investors will pay a 0% fee during periods of low activity and up to 50% during high-peak demand periods. The goal of this fee is to discourage mass redemptions.

The other top benefit is that it will give investors access to the best meme coins in the industry. As such, instead of buying tens tokens hoping to catch the next big thing, an investor in the fund will have access to the best of them. You can learn more about Vantard here.

Share this article

Market

Can This Bitcoin Whale Pattern Drive BTC Price to $71,000?

Published

31 mins ago

October 25, 2024

admin

Bitcoin’s price has recently struggled to close above the $70,000 mark, a critical level needed to gain momentum toward its all-time high. Despite several attempts, BTC has been unable to maintain a solid footing above this barrier, which has slowed the bullish momentum.

However, there are signs that larger holders may be stepping in, which could create the conditions for a renewed push.

Bitcoin Whales Are Driving the Optimism

According to recent data from Santiment, retail traders appear to be offloading Bitcoin, with whales seemingly capitalizing on the dip. This shift in trading behavior is significant, as it suggests that larger players are accumulating BTC while retail traders reduce their holdings. Wallets holding 100 or more BTC have grown by 1.9% over the past two weeks, signaling that whale accumulation is underway.

This uptick in large wallet addresses is a bullish indicator. When whales accumulate, it generally reflects confidence in the asset’s potential for future growth.

“ As the largest key stakeholders in crypto continue to scoop up more coins from dumping retail traders, this historically leads to bullish outcomes,” stated Santiment.

Bitcoin Whale Wallets. Source: Santiment

Bitcoin’s macro momentum is showing strong signs of support, particularly in terms of capital inflows. Net inflows into Bitcoin have accelerated, rising by 3.3%, or approximately $21.8 billion, over the past 30 days. This surge has pushed Bitcoin’s Realized Cap to a new all-time high of over $646 billion, indicating that substantial capital is entering the market.

The rise in Bitcoin’s Realized Cap demonstrates a growing liquidity base across the asset class. This influx of meaningful capital underpins BTC’s price increase, as larger inflows suggest sustained interest from both institutional and retail investors. The heightened liquidity provides a cushion against volatility, reducing the likelihood of sharp sell-offs and supporting the asset’s upward trajectory.

BTC Price Prediction: Aiming High

Bitcoin is currently trading at $67,553, with efforts to close above the $70,000 mark ongoing for the past ten days. Securing $68,248 as support is essential for BTC to move toward the next resistance at $71,367, a level that could determine the path to a new high.

The uptrend line has served as a consistent support, suggesting that a move to this resistance could unfold over the next few weeks. The whale accumulation pattern reinforces this bullish outlook, indicating that a rise in BTC’s price may be on the horizon, regardless of the timeframe.

Bitcoin Price Analysis. Source: TradingView

However, if Bitcoin loses the support of its uptrend line and slips below $65,292 due to macroeconomic factors or profit-taking, the bullish thesis would be invalidated. Such a drop could send Bitcoin to $61,868, marking a potential setback and creating further uncertainty around its price direction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Source link

Market

Wil INJ Join ASI Alliance?

Published

2 hours ago

October 25, 2024

admin

Injective (INJ) may soon join the Artificial Superintelligence Alliance (ASI) group, which comprises Fetch.ai, SingularityNET, and Ocean Protocol.

It comes amid plans to integrate Injective with Fetch.ai to facilitate cross-chain transfers.

Injective and Fetch.ai Integrate For Cross-Chain Transfers

The integration comes after the Fetch.ai community unanimously voted to substitute the inter-blockchain communication (IBC) blockchain interoperability protocol light client for Injective. This move will enable seamless cross-chain transfers between the Fetch.ai mainnet and Injective.

“This upgrade will enhance interoperability, making it easier to transfer assets between networks and strengthening ecosystem integration. In addition to expanding DeFi opportunities, this proposal highlights the stability and strong governance of our community,” one Web3 enthusiast MDCrypto on X noted.

The community also approved a software upgrade proposal for a CUDOS network merger due on October 27. This means that CUDOS will join the Artificial Superintelligence Alliance (FET) on Sunday.

“Both proposals have 100% approval and reached quorum 40 hours after submission,” Fetch.ai noted.

With this unanimity threshold, the decision reportedly marks the highest overwhelmingly supported proposals ever. BeInCrypto reported about this possibility in September, with the alliance due to gain decentralized computing from CUDOS. This will enhance AI efficiency while reducing vulnerabilities.

Additionally, the Injective network corroborated the report about an expected Fetch.ai integration. It indicated that “the official on-chain governance proposal to integrate Fetch and Injective is now live.” Further, the post also alluded to this integration going slightly beyond cross-chain transfers, with INJ tokens likely to join the ASI token alliance as well.

In hindsight, Fetch.ai and Singularity.NET jointly set the foundation for the Artificial Superintelligence Alliance with a $153 million investment in GPU hardware earlier in the year. The alliance’s mission is to provide the computational power required for large-scale AI and machine learning applications.

Bringing Cudos’ global distributed computing network to the mix would introduce more contemporary AI GPUs. As for the potential enlisting of INJ, Injective can deliver an active and efficient trading platform for activities related to artificial intelligence (AI) technologies and other emerging sectors. This could include trading AI-based assets, tokens, or derivatives that represent different aspects of the AI industry.

INJ Price Performance. Source: BeInCrypto

Amidst these developments, BeInCrypto data shows that the INJ token is up by a modest 0.62% on this news, to trade for $20.20 as of this writing.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Source link

Market

Is Dogecoin Price Poised For a Sustained Rally?

Published

3 hours ago

October 25, 2024

admin

Dogecoin (DOGE) price has risen by 27% over the past month, leading meme market gains. Interestingly, despite the double-digit price hike, a key on-chain metric signals that the meme coin remains undervalued, presenting a buying opportunity for market participants.

If demand strengthens, Dogecoin’s price may extend its gains in the near term. Here is why.

Dogecoin Flashes Buy Signal

Dogecoin’s market value to realized value (MVRV) ratio, which measures the overall profitability of all its holders, shows that the altcoin is currently undervalued. This is happening despite the 27% spike in its price over the past month.

As of this writing, the coin’s 60-day MVRV ratio is -8.18%. A negative 60-day MVRV ratio indicates that Dogecoin’s current market price is below its average over the past 60 days.

Negative MVRV ratios historically represent a buying signal. They suggest that the asset is being traded below its historical acquisition cost, thus creating a buying opportunity for traders looking to “buy low” and “sell high.”

Traders have seized upon this bullish indicator, with DOGE’s spot market recording its first net inflow in seven days. According to Coinglass data, the inflow into the meme coin’s market on Friday totals $2 million. This comes after seven consecutive days of spot market net outflows, which exceeded $35 million.

Dogecoin Spot Netflow. Source: Santiment

Spot inflow is a bullish signal. It indicates that investors are confident in Dogecoin’s mid/near-term prospects and are willing to hold it as an asset.

DOGE Price Prediction: This Crucial Support Must Hold

At press time, Dogecoin trades close to the crucial support level of $0.137. With increased inflow into its spot market, bulls are positioned to defend this price point, potentially initiating an uptrend if demand strengthens.

The coin’s bullish sentiment is further supported by its bull-bear power (BBP) indicator, which measures buying and selling pressure in the market. Currently, the BBP sits at 0.0033, suggesting bullish momentum. When this indicator is positive, the bulls control the market.

If bulls maintain their grip, they could drive Dogecoin’s price towards the resistance level at $0.154. A successful breakout above this threshold would allow the meme coin to reach $0.172, a high not seen since May.