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Bitbot Presale Enters Final Stage As $4.3M Raise Target Approaches

Published

1 month ago

May 29, 2024

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Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions.

Bitbot, a new AI Telegram trading bot, has raised $3.9+ million after reaching stage 15 of its presale.

This strong momentum comes on the back of a comprehensive rebrand, including a new website and a greater focus on AI tools. And with Bitbot already raising 3X more in presale than its competition, there’s a lot for investors to be excited about.

Adjacency to the crypto-AI nexus has proven to be a boon for standout tokens during this bull run, and Bitbot will look to replicate the price action of similar projects with this deepening of its AI features such as the Gem Scanner.

Bitbot’s AI deployment appeals particularly to retail traders, a huge demographic that remains vital to the crypto market. Intelligent on-chain analysis tools give everyday traders access to institutional-grade insights, built into a Telegram interface to ensure accessibility for all.

Bitbot currently boasts a community of 100k+, with around 80k followers on X, 25k+ on Telegram, and more across other channels including Reddit and Discord.

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

Bitbot occupies crypto’s growth sectors

AI blockchain tokens have been the stars of the 2024 bull run so far, at press time registering a $40 billion market cap, according to CoinGecko. Investment titan VanEck predicts that AI blockchain solutions will generate yearly revenue of more than $10 billion by 2030, signaling a strong expectation of growth.

Bitbot has a foot in another flourishing sector, too. Telegram trading bots have taken the market by storm since their inception in 2023, with a total of over $23 billion in trades being processed across all platforms.

The Telegram bot sector is valued, at press time, around the $1.5 billion mark, according to CoinMarketCap, and has been described as “crypto’s new cash cow.” With the current leader, BONKbot, heavily associated with the BONK token, there is even more potential for users to be onboarded due to the current trend of mainstream crypto adoption via meme coins.

Product Advisor, Andrew Jacobs, said:

“Bitbot is the perfect companion for those entering the crypto market for the first time, as well as traders who have seen it all. The proprietary AI gives users unmatched trading power in the palm of their hand, making high-level strategies accessible to everyone – and our industry-leading security makes sure investors stay safe in what can feel like a daunting environment.”

Bitbot iterates on first-generation Telegram bots in several areas, giving users a more capable product that arguably presents a stronger investment case.

The aforementioned Gem Scanner searches for undervalued tokens, allowing traders to optimize trade placement and strategy. An exclusive Alpha List delivers calls that help users find gems first, allowing them to beat the masses to the next huge opportunities.

Security is another area in which Bitbot excels: it’s the world’s first non-custodial Telegram bot, a new feature that fully protects against exploits and hacks. This is achieved using wallet solution partner KnightSafe to ensure users retain ownership of their coins until trade settlement is complete.

Anti-MEV and anti-rug pull protection round out Bitbot’s security arsenal, automatically blocking trades that show signs of fraudulent activity and preventing slippage from eating away at profits. This allows new market entrants to finally trade with peace of mind.

The BITBOT token explained

BITBOT, the token behind the trading platform, has its own set of benefits. Holders receive 50% of revenue generated from trading fees and get exclusive access to community groups where traders share investment opportunities and trading strategies.

Demand elsewhere in the Telegram bot sector has been clearly demonstrated since its birth in 2023. Banana Gun, for example, surged by 10x between October and April despite suffering a bug at launch – a problem Bitbot protects against with its Solid Proof audit and extensive security measures.

Meanwhile, BONKbot offers a “less refined” trading experience and is limited to Solana alone, yet the BONK token boasts a $1.6 billion market cap. Bitbot will operate across multiple chains with an advanced, AI-infused feature set, suggesting it has the potential to achieve even more.

After the presale, the BITBOT token will be listed on DEXs, at which point the market will decide the price of this AI token.

About Bitbot

Bitbot is a new AI 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 wallet, Your assets.” To this end, the project has partnered with Knightsafe to deliver the world’s first non-custodial telegram trading bot, mitigating counterparty risk and reinforcing this with anti-MEV and anti-rug technology.

For more information and to buy Bitbot (BITBOT), visit: Official Website | Whitepaper | Socials

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This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Bitcoin Price Struggles to Reclaim $70K: Will the Bulls Prevail?

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XRP Price Moves To Break Out Of 7-Year Accumulation, Analyst Highlights Possible 1,200% Rally

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Market

XRP Price Maintains Support Level: What It Means For The Bulls

Published

54 mins ago

July 2, 2024

admin

XRP price climbed higher and tested the $0.4840 resistance zone. The price corrected gains but the bulls are able to protect the $0.4750 support.

XRP price is eyeing an upside break above the $0.4840 resistance zone.
The price is now trading above $0.4720 and the 100-hourly Simple Moving Average.
There is a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might gain bullish momentum if there is a close above the $0.4840 resistance.

XRP Price Corrects Gains

XRP price started a decent upward move above the $0.4740 resistance like Bitcoin and Ethereum. The bulls were able to push the price above $0.480. However, the bears were active near the $0.4840 resistance zone.

A high was formed at $0.4839 and the price recently started a downside correction. There was a move below the $0.4800 and $0.4780 levels. The price even spiked below the 50% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high.

It is now trading above $0.4740 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair.

On the upside, the price is facing resistance near the $0.480 level. The first major resistance is near the $0.4840 level. The next key resistance could be $0.4880. A clear move above the $0.4880 resistance might send the price toward the $0.5050 resistance.

The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance.

More Losses?

If XRP fails to clear the $0.4840 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4765 level and the trend line.

The next major support is at $0.4740, the 61.8% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high, and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4740 level, the price might continue to decline toward the $0.4640 support in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now just below the 50 level.

Major Support Levels – $0.4765 and $0.4740.

Major Resistance Levels – $0.4800 and $0.4840.

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Market

The Rise of Liquid Staking on Solana: Key Insights

Published

2 hours ago

July 2, 2024

admin

Solana, the fifth-largest crypto asset by market size and the third-largest proof-of-stake (POS) network, saw its liquid staking ratio rise by 1.76% quarter-over-quarter.

According to DefiLlama, over $54 billion worth of crypto assets are staked across liquid staking platforms. Liquid staking, unlike traditional staking, lets users earn extra yield and retain liquidity with a derivative token for DeFi.

The Rise of Liquid Staking on Solana

Data from Dune Analytics shows over 23 million SOL, valued at over $3.6 billion, staked on liquid staking platforms. Solana has a higher staking ratio than Ethereum, around 60%, but only 6% of staked SOL is in liquid staking. This indicates untapped potential in Solana’s liquid staking sector, as well as potential growth opportunities.

Read more: What Is Liquid Staking in Crypto?

Solana Liquid Staking Ratio. Source: Dune Analytics

Solana’s two-day unbonding period, shorter than many other blockchains, might also impact the popularity of liquid staking. Konstantin Boyko-Romanovsky, founder and CEO of Allnodes, explains how this can be an advantage over other blockchains like Polkadot or Ethereum.

“Since Solana’s unbonding period is only two days, liquid staking might not be as popular as blockchains with unbonding periods of 2-3 weeks. In the context of staking, the unbonding period is when staked assets are unlocked and available for use after a user decides to unstake them,” Boyko-Romanovsky, told BeInCrypto.

Platforms like Sanctum and Jito Labs are also driving the liquid staking boom on Solana. According to researcher and analyst Tom Wan, Sanctum lowered the barrier of entry and is helping projects build their own liquid staking tokens (LSTs) and scale.

Jito currently has about 91,000 Solana investors staking on the platform, with an APR of over 8% and over 10.6 million SOL staked.

“Sanctum is able to take the torch. The launch of INF, Sanctum Router, and Sanctum Reserve, has lowered the barrier to entry, buklding foundation of a Cambrain explosion of the liquid staking sector on Solana,” Wan shared in a post.

Solana Dominance of Liquid Staking Token. Source: Dune Analytics

Boyko-Romanosvky also highlights the influence emerging trends like re-staking can have on liquid staking’s growth in Solana.

“Emerging technologies like re-staking can potentially influence the development and adoption of liquid staking on Solana and similar blockchains. By providing continuous liquidity, increasing yield opportunities, and offering greater flexibility, re-staking can enhance the attractiveness of liquid staking even on platforms with short unbonding periods like Solana. However, ensuring the security and reliability of these technologies, alongside effective market and liquidity management, will be crucial for their success and widespread adoption,” Boyko-Romanosvky shared.

As liquid staking continues to grow in popularity, Solana could benefit from increased user participation and enhanced network security. So far, two major filings for a Solana ETF have been made in the US. If liquid staking popularity continues to grow, it can give Solana a competitive advantage and attract investment firms.

Disclaimer

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Market

Bitcoin Price Challenge: Can It Break Through and Resume Climbing?

Published

3 hours ago

July 2, 2024

admin

Bitcoin price recovered and tested the $63,650 resistance zone. BTC is now consolidating gains and might make another attempt to surpass $63,650.

Bitcoin started a decent increase above the $62,500 and $63,000 levels.
The price is trading above $62,250 and the 100 hourly Simple moving average.
There is a connecting bullish trend line forming with support at $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might gain bullish momentum if it clears the $63,650 resistance zone.

Bitcoin Price Holds Ground

Bitcoin price started a decent upward move above the $61,200 zone. BTC was able to clear the $62,000 and $63,000 resistance levels to move into a short-term positive zone.

However, the bears took a stand near the $63,650 zone. A high was formed at $63,798 and the price recently corrected some gains. There was a move below the $63,200 level. The price tested the 23.6% Fib retracement level of the upward move from the $59,950 swing low to the $63,798 high.

Bitcoin price is now trading above $62,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $62,800 on the hourly chart of the BTC/USD pair.

If there is another increase, the price could face resistance near the $63,250 level. The first key resistance is near the $63,650 level. The next key resistance could be $64,000. A clear move above the $64,000 resistance might start a steady increase and send the price higher.

In the stated case, the price could rise and test the $65,000 resistance. Any more gains might send BTC toward the $66,500 resistance in the near term.

Are Dips Supported In BTC?

If Bitcoin fails to climb above the $63,650 resistance zone, it could slowly move down. Immediate support on the downside is near the $62,800 level and the trend line.

The first major support is $62,200. The next support is now forming near $61,800 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the upward move from the $59,950 swing low to the $63,798 high. Any more losses might send the price toward the $60,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $62,800, followed by $61,800.

Major Resistance Levels – $63,650, and $64,000.

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