Altcoin
BounceBit Price Soars 40%, Will The Rally Continue?
The BounceBit price surged more than 40% today, catching the attention of the market participants. Although no specific recent events have triggered this spike, the broader market rally seems to have played a role. In addition, some other recent developments surrounding BounceBit (BB) may have also helped bolster the investors’ confidence.
Why Is BounceBit Price Soaring?
The recent surge in the BounceBit price has left many investors wondering about the potential reasons behind it. While no specific developments were noted today, it seems that the project’s recent unveiling of its roadmap has fueled market confidence.
For context, BounceBit recently announced its roadmap to democratize high-yield Bitcoin investing by merging centralized and decentralized finance (DeFi). According to a Medium blog post, BounceBit aims to blend the liquidity of centralized exchanges with decentralized infrastructure for Bitcoin without altering its core technology.
Meanwhile, BounceBit plans to enhance its BounceBit Chain, a proof-of-stake layer-1 chain secured by validators staking both Bitcoin and BounceBit’s native token BB. In addition, the startup plans to optimize the Ethereum Virtual Machine (EVM) execution layer to improve node performance.
In addition, other improvements include developing a shared security client module for other projects to utilize BounceBit’s liquidity. To achieve that, it plans to construct a new mempool module for higher transaction throughput, and refactoring the communication layer between EVM and Cosmos SDK.
Besides, BounceBit also aims to introduce the Fixed Earn product, offering fixed income for Bitcoin and dollar assets, akin to traditional crypto lending. Simultaneously, it also announced launching BounceClub, enabling users to create their own centralized and decentralized finance (DeFi) products using BounceBit’s widget.
Also Read: Vitalik Buterin Proposes First Block On Ethereum Layer 2 Taiko With Optimistic Note
Price & Performance Amid Binance Support
Binance Labs, the venture arm of Binance, announced its investment in BounceBit in April, signaling strong institutional support. In addition, Binance incorporated BounceBit (BB) into its ecosystem, including features like Simple Earn, Buy Crypto, Convert, Margin, Futures, and Auto-Invest in mid-May.
Meanwhile, this integration provides users with unprecedented accessibility and flexibility in managing their digital assets, contributing to the recent price rally. Notably, the project’s ambitious roadmap and strong backing from Binance have positioned it as a notable player in the crypto market. Investors are watching closely to see if BounceBit can maintain its upward trajectory and fulfill its ambitious plans.
However, given the key developments mentioned in the roadmap, and Binance’s increasing focus towards the project, several experts are bullish towards the crypto.
As of writing, the BouceBit price was up 42.31% and exchanged hands at $0.4792, while its one-day trading volume rocketed 98.4% to $203.08 million. Over the last 24 hours, the crypto has touched a 24-hour high of $0.489, while noting a monthly gain of around 50%.
Also Read: Solana Price Falls Below $170, What’s Next?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Meme coins themed after celebrity Andrew Tate might be making a comeback alongside the wider digital asset market. Crypto assets look to offset double-digit losses picked up in the last seven days as sentiments hit a new low not recorded in months. Meme coins also tumbled following the market sell-off with multiple categories trading at new lows.
Andrew Tate tokens were not an exception to the negative trading this month although signs of positives are seen today. The crypto recovery means total assets are now worth $2.09 billion, this is a drop from $2.6 trillion last month. Celebrity meme coins on the other hand declined before a 12% upswing today taking its market cap to $44.5 million.
Andrew Tate Meme Coins
Meme coins themed after Andrew Tate have recorded upticks today. RNT saw the largest gains including the wider celebrity meme coin bracket with a 14.2% gain. The asset’s price trades at 0.007277 after weekly numbers soared improved to 6% wiping out month-to-date exits. Daily volumes also pointed north soaring to $1.7 million.
Similarly, Top G saw 2.5% inflows in the last 24 hours with its price at $0.000825. The market correction is depicted in longer-term numbers as weekly figures remain in the red zone. This week, Top G fell 28% wiping out a significant chunk of gains. In the last two weeks, the asset plunged over 50%.
However, TME fell 2.9% today declining sentiments in Andrew Tate-themed tokens. TME trades at $0.0002281 and remains in the red zone for the last 30 days.
Will Prices Recover?
While RNT and Top G gained momentum, TME declined leading to shaky sentiments. The crypto asset rebound following US job data points to increased activities in the last 24 hours. As Bitcoin price and ETF inflows record upticks, altcoins and meme tokens will follow suit recovering losses from the market correction. Meme coins themed after Andrew Tate are tipped to follow the market trend with bulls expecting inflows.
Also Read: PEPE, WIF, And These Meme Coins Recovers, Where Others Failed
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a groundbreaking move, the enigmatic Shiba Inu project lead, Shytoshi Kusama, has confirmed his next destination: Mumbai, India. This announcement follows his electrifying appearance at the IVS Conference in Kyoto, Japan. During his Kyoto visit, Kusma captivated the Shiba Inu community, also known as the SHIB Army, as he made his first-ever public appearance.
Shytoshi Kusama Confirms Another Public Apperance
As Shiba Inu lead developer, Shytoshi Kusama, announced his visit to India, the country’s SHIB community got excited. After the success of the recent Kyoto event, a similar frenzy could be witnessed along Mumbai’s shores. In a post on X, Kusama wrote, “Thank you, Kyoto! Great event @IVS_Official ! Next stop… Mumbai!”
Earlier, Kusama’s appearance at the Shiba Inu booth in Kyoto, as he previously hinted on his social media, was met with tremendous enthusiasm. The Shiba Inu lead was dressed in a black haori samurai ensemble and a Batman-style mask. Hence, he maintained his pseudonymous identity while engaging with the Shib Army and other crypto enthusiasts.
Moreover, the event was marked by photos and videos going viral within the Shiba Inu community, amplifying the excitement around the project. Furthermore, Lucie, Shiba Inu’s marketing lead, expressed her delight at this historic moment. She spotlighted highlighting the enthusiasm of the Japanese Shib Army.
In her tweet, she thanked the community and shared a photo of Kusama alongside a Japanese politician, emphasizing the significance of the encounter. In addition, a prominent Shib Inu community member from Japan, shared videos from the event. The videos showcased Kusama interacting with participants at the Shiba Inu booth.
Moreover, another video showed him shaking hands and signing a participant’s cap, further solidifying his connection with the community. Additionally, WeCreate3, a student community of Japanese Web3 enthusiasts, also documented their meeting with Kusama. They also expressed hopes for a future partnership with the Shiba Inu network.
Also Read: Shiba Inu Coin Surges As 360M SHIB Burnt Over The Week, More Steam Left?
Will Kusama Continue Meeting The SHIB Army?
Despite some skepticism regarding whether it was truly Kusama under the costume in Japan, the SHIB Army’s loyalty remains unwavering. The community eagerly anticipates future developments in the Shiba Inu project and Kusama’s contributions to the broader crypto ecosystem.
Moreover, Kusama’s visit to India is expected to be a significant milestone for the Shiba Inu project. It indicates a strategic move to engage with the global SHIB Army. The Indian crypto community, known for its vibrancy and enthusiasm, is likely to provide a warm reception to Kusama.
The event in Mumbai is anticipated to feature interactive sessions. In addition, it could also witness discussions on future projects, and perhaps more revelations about Shiba Inu’s roadmap. However, the actual details of the event are still under wraps.
Whilst, this announcement hints at further public appearances for Kusama for interacting with the SHIB Army. Earlier, the Kyoto meet was expected to be one-off-its-kind. However, with the revelation of a similar event in India, the Shiba Inu community is optimistic on Kusama’s continued global visits.
Also Read: Why Meme Coins Are Pumping Today?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Terra Classic Foundation announced on X that the staking ratio for Terra Classic (LUNC) has surpassed 15%. Moreover, the amount of staked Terra Luna Classic has exceeded 1 trillion tokens. Furthermore, the significant LUNC token burns by Binance have also added to the growing optimism around the crypto’s performance.
Terra Luna Classic Staking Ratio Surges
According to the latest data from Terra Classic Foundation, over 1.017 trillion LUNC has been staked on the network. At the current price, this Terra Luna Classic staked reserve is valued at $70.15 million. Moreover, the staking ratio has now surged to a high of 15.01% from 14.83% a few days ago.
Earlier, on July 1, Binance, the world’s largest cryptocurrency exchange, burned 1.7 billion LUNC tokens. This marked the 23rd batch of the LUNC burn mechanism. Moreover, Binance has now burned nearly 62 billion LUNC tokens to date. The total LUNC tokens burned by the Terra Luna Classic community have exceeded 125 billion.
In addition, Binance’s continuous support for the Terra Luna Classic revival since 2022 is noteworthy. The exchange’s monthly LUNC burn mechanism significantly contributes to reducing the overall supply. The 23rd burn batch covered the period from May 31 to June 29. It burned a substantial amount of trading fees. Furthermore, Binance alone accounts for over 50% of the total LUNC burned by the community.
Also, the increase in the staking ratio can positively influence the Terra Luna Classic price. Higher staking ratios often indicate strong community confidence and reduced available supply for trading. This can lead to decreased selling pressure and potential price appreciation.
Staking locks up tokens, reducing the circulating supply. With fewer tokens available for trading, demand can push the LUNC price higher. Additionally, increased staking signals long-term commitment from holders, which can attract more investors.
Also Read: Will Terra Classic Price Lose $0.00006 Support Amid Market Sell-off?
What’s Next For LUNC Price?
The crypto market faced supply pressure this week due to the Bitcoin price correction. This was influenced by liquidations from the Mt. Gox exchange and the German government. Moreover, the Bitcoin price plummeted to a four-month low of $53,550. In addition, the bearish momentum spread through the altcoin market, which also impacted Terra Luna Classic.
Thereafter, the LUNC price dropped below its seven-month support level. The Terra Luna Classic correction began in early March when the price fell from $0.00025. By July 5, the price had dropped 73.6% to $0.0000673. However, on Saturday, July 7, LUNC price saw a rebound with over 7% gains, trading at $0.00006898.
This rebound suggests that a further dip to $0.000052 might be avoided. For restricting the downturn, the LUNC price needs to breaks out from $0.00007 and sustains that level. Whilst, the current market cap for LUNC stands at $376.43 billion. Moreover, the reduced token supply owing to token burns by Binance and community staking can also aid in boosting the Terra Luna Classic price.
Also Read: CBN Official Testifies Binance Illegally Operated in Nigeria
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Are Andrew Tate Tokens Recovering Amid Slow July?
Bitcoin Mining Facing Profitability Squeeze
India to Present Union Budget On July 23, Will Crypto Investors Get Tax Relief?
Shiba Inu’s Shytoshi Kusama Confirms India Visit, What Is In Store?
Terra Luna Classic Staking Ratio Hits 15% With 1T LUNC Staked
Paraguay Fights Illegal Miners, and More
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
CFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
TON Foundation’s Plan to Onboard 500 Million Users
Terraform Labs Refuses to Pay $5.3 Billion Fine, Says SEC Has No Evidence
New And Upcoming NFT Projects
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
CFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
TON Foundation’s Plan to Onboard 500 Million Users
Terraform Labs Refuses to Pay $5.3 Billion Fine, Says SEC Has No Evidence
New And Upcoming NFT Projects
-
Blockchain2 months agoHong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
-
Regulation2 months agoCFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
-
Altcoin2 weeks ago
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
-
Market2 weeks ago
TON Foundation’s Plan to Onboard 500 Million Users
-
Regulation2 months agoTerraform Labs Refuses to Pay $5.3 Billion Fine, Says SEC Has No Evidence
-
NFT3 weeks agoNew And Upcoming NFT Projects
-
Market4 weeks agoAvalanche (AVAX) Under Pressure: Prolonged Downtrend Next?
-
Altcoin2 weeks ago2.52 Million Altcoins Are Ruining Crypto’s Future
✓ Share: