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| TOP 
| #TOP
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| TOP Price: | $0.000431 | | Volume: | $56.7 K | | All Time High: | $0.036 | | Market Cap: | $1.7 M |
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| Circulating Supply: | 3,908,271,105 |
| Exchanges: | 1
| | Total Supply: | 3,908,271,105 |
| Markets: | 1
| | Max Supply: | 20,000,000,000 |
| Pairs: | 1
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The price of #TOP today is $0.000431 USD.
The lowest TOP price for this period was $0, the highest was $0.000431, and the current live price for one TOP coin is $0.00043126.
The all-time high TOP coin price was $0.036.
Use our custom price calculator to see the hypothetical price of TOP with market cap of BTC or other crypto coins. |
The code for TOP crypto currency is also #TOP.
TOP is 5.1 years old. |
The current market capitalization for TOP is $1,685,497.
TOP is ranked #1256 out of all coins, by market cap (and other factors). |
There is a modest volume of trading today on #TOP.
Today's 24-hour trading volume across all exchanges for TOP is $56,693. |
| The circulating supply of TOP is 3,908,271,105 coins, which is 20% of the maximum coin supply. |
TOP has very limited pairings with other cryptocurrencies, but has at least 1 pairing and is listed on at least 1 crypto exchange.
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| Note that there are multiple coins that share the code #TOP, and you can view them on our TOP disambiguation page. |
TOP Network Bi-Weekly Report: March 08 — March 21, 2023
TOP Network Bi-Weekly Report: March 08 — March 21, 2023 - — Technology Progress - 1. The core functions of TOP ID are web2 multi-factor authentication, which mainly involves using email, password, and other methods to log in and manage accounts, and the integration of Ethereum EIP-4337. It is expected that the technical implementation of this integration will take 2–3 weeks. 2. The integration of the TOP NFR (NFT+rights) specification and TOP DEX is expected to be completed in 3 weeks. Currently, the DEX contract code needs to be modified to support NFR transactions. 3. The integration of the overall structure mainly refers to TOP DEX, TOP NFR, NFT, TOP cross-chain, and TOP ID. It is expected that this integration will be completed successfully in the middle of Q2. 4. TOP Mainnet 1.11.0, which includes security and functional enhancements, has been released, and most nodes have been successfully upgraded. The Mainnet is currently functioning normally. 5. The stability and performance of TOP Mainnet 1.12.0 have been significantly improved. The development work has been completed, and final acceptance is currently being carried out. It is expected to be released in mid-April. — Updates on Swapping BSC or HECO TOP for Native TOP - The conversion of BSC/HECO TOP to Native TOP is currently in progress. If you meet the conditions, please register using the form, and we will process the requests in order. doc... 
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TOP Network Bi-Weekly Report: February 22— March 07, 2023
Technology Progress - 1. The definition of TOP ID and the TOP Payment API Specification have been completed. TOP ID is used to unify the account system of applications within the ecosystem and the mainnet, while the TOP Payment API unifies the method of TOP Payment and purchase within the ecosystem. 2. The preparation of the TOP NFR RFC3721 Specification and sample code has been completed and is expected to be officially submitted to the Ethereum community for review by mid-March. 3. Security hardening and function enhancement of the TOP Mainnet version 1.11.0 have been completed and preparations for deployment are expected to be finished by mid-March. 4. The TOP Mainnet version 1.12.0 demo has verified an improvement in TPS of more than 20%, and it is expected that all development work will be completed by the end of March. — Updates on Swapping BSC or HECO TOP for Native TOP - We have started the work successively in the past week; please check your email or Telegram for updates in a timely manner. The following are the qualifications for the swap: 1. All TOP users who purchased from MDEX before August 6, 2022, will be eligible for a 1:1 swap of their TOP native token. Purchases of TOP made after this date will not be eligible to participate in this swap. 2. Buyback is still available for users who purchased between 8/6–8/13. Please fill out your information in the form: docs.google.com If you are involved with...
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TOP Network Bi-Weekly Report: February 8— February 21, 2023
Technology Progress - 1. The NFR equity trading products in the TOP ecosystem have completed phased results: the App has completed the communication work with the TOP cross-chain bridge. 2. The transformation design of the TOP DEX economic model has reached an agreement, and this transformation is aimed at the needs of ecological applications. The relevant tasks are expected to be completed in Q1. 3. The security and function enhancement version of TOP mainnet 1.11.0 has been developed and accepted. Deployment is expected to be completed by mid-March. 4. The TOP mainnet version 1.12.0 has been developed. This version will achieve more than 20% optimization of TPS. — 🙌Updates on Natvie TOP Staking - — TOP Mainnet staking is available now!. — Staking, voting, withdrawing, redemption, and claiming the earnings are all working fine in HiWallet or Topia wallet now. TOP voters can freely choose advance nodes to vote on the mainnet and receive rewards from mainnet. 👉Get HiWallet Android version from: www.hiwallet.org ✔Topia supports mainnet staking in the Chrome browser on the computer, and you can visit the TOP mainnet staking on a computer via: top.topstaking.io 👉Get Topia wallet from: chrome.google.com — 📣Swap BSC or HECO TOP for Native TOP - The native TOP can now be traded on Huobi Global. Based on TOP ecological development needs, we prefer all TOP users to have native ones. Hereby...
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TOP Network Updates: January 11- February 07, 2023
We apologize for not delivering the bi-weekly report on time last month. And we will ensure that information is delivered on time in 2023. — Technology Progress: - 1. The TOP mainnet version 1.9.0 performance optimization has been released and most nodes have been successfully upgraded. The mainnet is operating normally. 2. The TOP mainnet version 1.10.0 infrastructure iteration has completed testing and acceptance and will be released along with version 1.11.0, as the release window was missed due to the holiday. 3. The security and functional improvement of the TOP mainnet version 1.11.0 is expected to be developed on February 15th and will be released with version 1.10.0 at the end of the month. 4. The transformation and iteration of the TOP DEX and related economic models will commence next week after resource reallocation. — Information Update - The TOP team is currently strengthening the security of the Dapp interface which affects the earning withdrawal and vote withdrawal on the ERC20 staking Dapp. Earning withdrawal and staking in HiWallet and Topia wallets are also partially affected. However, native TOP that has been staked in the mainnet can vote and withdraw freely. The TOP team will complete the security reinforcement of the Dapp side as soon as possible and make it available. Thank you for your understanding!, The roadmap of 2023 depends on several cooperated teams, and the TOP team is making pro...
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How to Use Topia Wallet to Stake Native TOP on a PC
Topia officially supports TOP mainnet Staking! First of all, the Topia wallet is a decentralized plug-in wallet. You can use it through the Chrome browser, and it can also be found directly in the Chrome web store. Like Metamask, your assets are under your control, so please remember your mnemonic phrase! The first step is to install the Topia wallet in the Chrome browser. Search Topia in the Chrome web store. Then click it to finish the installation. After the installation is complete, it will appear in the upper right corner of the browser. Topia link：chrome.google.com In the second part, click the Topia wallet, and you can choose to create or import the wallet address. If you already have the address, you can click log in button to import the TOP address; If the address has not been generated, a new TOP address can be generated in the Topia wallet. Remind again, please remember your mnemonic phrases! The third step is to click on the link: top.topstaking.io to enter TOP Network native staking page. The Topia and TOP Network Staking pages will be automatically connected. We will find that there are different advance nodes on the interface, and you can choose different nodes to participate in voting to obtain mainnet rewards. Finally, you can click the stake button in the middle to participate in the operation. You can select the suitable staking amount and staking period. Generally speaking, the longer the staking pe...
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TOP Network Bi-Weekly Report: December 27, 2022 — January 10, 2023
TOP Network Bi-Weekly Report: December 27, 2022 — January 10, 2023 - — Technology Progress - 1. The TOP mainnet version 1.9.0 has completed all tests. This version is mainly a performance-optimized version. It’s now officially launched. 2. TOP mainnet 1.10.0 plans to complete the code Freeze milestone in mid-January, and complete the deployment by the end of January. This version is an iterative version of the infrastructure. 3. The core part of the NFT cross-chain infrastructure has been developed, and the official version of the corresponding DApp is under development and is planned to be released with version 1.11.0. 4. The transformation and iteration of TOP DEX and related economic models have stagnated due to resource issues and are planned to be restarted in February. — Important Notice - Topia Wallet officially supports TOP Mainnet Staking! TOP holders can use the Topia plug-in wallet in Chrome on the PC to join TOP Staking. Topia Wallet is a decentralized plug-in wallet. Like Metamask, crypto assets are controlled by users themselves. Topia currently supports the TOP chain and the Filecoin chain, and users can manage the assets of these two chains on a computer. As one of TOP Network’s ecological wallets, Topia will provide more support for TOP ecology and users in the future. To join TOP Staking on PC, please visit TOP Staking — Mainnet Updates - The version of TOP mainnet 1.9.0 has l...
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TOP Network Bi-Weekly Report: December 7- December 20, 2022
Technology Progress - 1. The TOP mainnet version 1.9.0 has completed the scheduled performance optimization goals, and all functions have been tested; however, due to the impact of COVID-19, testing and development have encountered bottlenecks. It is expected that the release of version 1.9.0 will be delayed by 1–2 weeks. 2. The third phase of the development of the NFT cross-chain infrastructure has been completed, and the self-test of the overall function has been completed. The acceptance is expected to be completed around January 23, including functional and safety acceptance. 3. TOP main network ecological infrastructure version 1.10.0, most tasks are carried out according to the scheduled schedule. Due to resource constraints, the progress of TOP DEX is delayed, and the release of the version is expected to be postponed to around February 2023. — TOP Swap supporting: - TOP supports swap to the mainnet on mobile and computer. Participate in the main network to become a node or a voter and enjoy benefits more easily. The almost negligible gas fee on the mainnet helps you freely vote and withdraw votes. 1. Please use HiWallet on the mobile terminal. Find the application “TOP Swap” in HiWallet, and follow the prompts for corresponding mapping. 2. Please use MetaMask on the computer side. 👆swap.topnetwork.org and link the Little Fox wallet address for corresponding mapping. Remarks: Please prepare the TOP m...
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TOP Network Bi-Weekly Report: November 23- December 6, 2022
Technology Progress - 1. The TOP mainnet version 1.8.0 has been released. This version is not a mandatory upgrade version, and the mainnet is operating normally. Version 1.8.0 mainly enhances network security. 2. The technical docking between the TOP main network and Huobi Global has been completed, and the integration test, stress test and security verification of both parties have been completed. Huobi has officially supported the TOP Native Token. 3. The second phase of the development of NFT cross-chain infrastructure has been completed. The second stage mainly includes the review and rectification of security and test cases. The next step is to improve all functions and logic based on security guidelines. 4. The version 1.9.0 of the TOP mainnet is a performance-enhanced version, which has achieved phased optimization results in terms of real-time performance and TPS, but there is still a gap from the expected results. The release time of version 1.9.0 is expected to be delayed by about 1 week than originally planned. — Important activity - Huobi will be launching the TOP Trading Contest. Trade TOP in our event to win awesome rewards! Join TOP Trading Contest to Share 42,600,000 TOP Event period: 12:00 (UTC) on Dec 5, 2022–12:00 (UTC) on Dec 12, 2022 More details： Trade to share 42,600,000 TOP! Huobi to launch TOP(TOP Network) Trading Contest on Dec 5-Huobi-Official Huobi Website — TOP Swap supporting: -...
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Win 42,600,000TOP, Join Native TOP Trading Contest in Huobi Global
Win 42,600,000 TOP, Join Native TOP Trading Contest in Huobi Global - Huobi will be launching the TOP Trading Contest. Trade TOP in our event to win awesome rewards! — Join TOP Trading Contest to Share 42,600,000 TOP. — Event period: 12:00 (UTC) on Dec 5, 2022–12:00 (UTC) on Dec 12, 2022 — Event Rules:. — 👆By going to the event page, you register for our event automatically. Participants who fail to visit the event page can not get any rewards from the event. 👆Participants who trade TOP spot trading pairs during the event period are eligible to share the 42,600,000 TOP prize pool based on their spot trading volumes. — Rewards:. — — Risk Reminder:. — Huobi reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.The above is for information purposes only. Huobi makes no recommendations or guarantees in respect of any virtual assets, products, or promotions on this platform. Trading virtual assets and digital asset derivatives come with high risk due to high price volatility. Please fully understand all the risks and make prudent decisions before trading. For more details, please read the Risk Reminder. 👆Click here to deposit TOP: www.huobi.com 👆Click here to trade TOP: www.huobi.com — About TOP Network. — TOP Network is mainly committed to providing services for mass...
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Swap ERC-20 TOP to Native TOP as Soon as Possible
It is exciting to announce HuobiGlobal will support native TOP trading very soon. During this process, deposit and withdrawal will be closed. After the token swap is completed, the trading competition will be live. Stay tuned! 👉Meanwhile, please withdraw ERC20-TOP if your staking expired, and complete the swap process: Step 1: Cancel your votes from the node. Step 2: Withdraw your staking TOP. Step 3: Swap TOP from ERC-20 to native one. Please refer to the detailed tutorial from TOP Doc👇 developers.topnetwork.org 📍TOP Swap supporting: 1. Swap TOP on your phone with HiWallet. Find ‘TOP Swap’ in HiWallet to complete this process. 2. Swap TOP on PC with Metamask. *Open TOP Swap website: swap.topnetwork.org How to get a native TOP address? 1. Get it from HiWallet: www.hiwallet.org Enter your email address and the system will send you the APK. 2. Get it from Topia plug-in wallet. Open Chrome on your desktop and install Topia from the below link: chrome.google.com — 👇About TOP Network - TOP Network is mainly committed to providing services for massive ordinary users, satisfying high-demand user experience, supporting cost-sensitive large-scale real business, and is the blockchain infrastructure of the Internet of Value. Businesses such as Web3.0, GameFi, and Metaverse, which are very sensitive to transaction throughput, transaction confirmation speed, transaction fees, and user experience, are the core busi...
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 | Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Ex...
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB's collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are investigating the collapse of Silicon Valley Bank.Report Says Investigations Into Silicon Valley Bank's Collapse Include Stock Sales by Senior Executives
SVB Financial Group, the parent company of Silicon Valley Bank, and its CEO Greg Becker and CFO Daniel Beck have been named in a lawsuit, according to reports on March 13th. Reuters reported that the proposed class action accuses the bank and senior executives of hiding the potential harm that rising interest rates could cause to the now-failed financial institution. The class action was filed in federal court in San Jose, California, and is led by Chandra Vanipenta, who is representing SVB shareholders.
Silicon Valley Bank was placed into receivership by the Federal Deposit Insurance Corporation (FDIC) on Friday. On Sunday, the U.S. Federal Reserve, FDIC, and Treasury announced that all depositors would be reimbursed. The FDIC then converted SVB into a bridge bank under its control and opened the financial institution to depositors on Monday. The lawsuit against SVB seeks unspecified damages for shareholders, and Vanipenta contends th...
|  | Blockchain Retail Market Size to Top Over $2 Billion by 2028 — Stu...
According to Fortune Business Insights, the global blockchain retail market size is expected to surge from the $172.2 million recorded in 2021 to over $2 billion by 2028. Both the demand for the product by end-users as well as the growing use of the technology in supply chain management are expected to sustain the market's projected compound annual growth rate (CAGR) of 42.8%. Inherent Benefits of Blockchain
The value of the global blockchain retail market size is expected to grow from the $172.2 million recorded in 2021 to over $2 billion by 2028, a study by the market research firm Fortune Business Insights has found. In a report titled 'Blockchain in Retail Market Forecast, 2023-2028,' the research firm also revealed that the CAGR during this period is expected to top 42.8%.
According to a part of the research firm's March 10 press statement highlighting the likely drivers of demand for the technology, Fortune Business Insights analysts argue that the 'surging demand for the product from end-users such as retail as well as [the] supply chain is expected to navigate the demand for [a] solution in retail.'
Expanding on why the technology is increasingly favored by businesses in the blockchain retail sector, the report points to the technology’s inherent benefits such as improved efficiency and increased transparency.
'The integration of blockchain technology in the retail sector offers numerous benefits such as secure, cost-effective, and swift payment processing throu...
|  | Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins
The cryptocurrency industry is known for its explosive trends where a group of projects takes for the sky, outperforming the rest of the market considerably.
There’s been a few of these already in 2023, but one that stands out seems to be a trend related to projects that have been working on solutions based on Artificial Intelligence.
A closer look at AI-related crypto projects reveals that a whole lot of them have vastly outperformed the rest of the industry, multiplying their value by a considerable factor.
The following takes a closer look at the reasons this happened, what provoked it, and what are some of the best-known crypto projects associated with it.
Let’s dive in.
Quick Navigation
What is Artificial Intelligence (AI)?
The ChatGPT Mania
Tech Giants Spend Big Bucks
The Crypto Trend
Top 5 AI Cryptocurrencies
What is Artificial Intelligence (AI)?
First, artificial intelligence is not a new phenomenon in the world of technology. It’s also important to note that there is no consensus on the definition of AI, which makes it challenging to pinpoint a single-sided use case.
Many consider AI to be a particularly critical piece of technology with transformative properties and the potential to change our society.
In Layman’s terms, artificial intelligence is the simulation of human intelligence processes by computer systems or other types of machines. There are multiple applications, including expert systems, machine vision, machine learning, spee...
|  | FLOKI Enters Top 100 Following 15% Daily Surge: Market Watch
The untypical lack of any volatility continues for bitcoin as the cryptocurrency keeps trading around $22,400.
The altcoins are in a similar state, with little-to-no movements from most larger caps. FLOKI has taken advantage and has popped into the top 100 after a massive daily surge.
Will Bitcoin Finally Move Today?
Last Friday saw a massive price plunge from bitcoin that drove it from over $23,400 to just below $22,000 in minutes as the Silvegate issues intensified. However, that was the last piece of price volatility for the cryptocurrency for the next several days.
The weekend was somewhat expectedly calm as the trading volumes had declined. Nevertheless, Monday didn't produce any large price movements either, as BTC traded in a tight range between $22,300 and $22,600.
All that could change later today when Fed Chair Jerome Powell is scheduled to testify in front of Congress about the central bank's monetary policy. Given the history between the Fed's interest rate hikes and BTC's price volatility, it's safe to assume that there would be some fluctuations today and, in fact, during the rest of the week as there're more events and announcements coming from the US.
BTCUSD. Source: TradingView
FLOKI Enters Top 100
Most alternative coins have remained stuck in the same position as the past few days as well. Minor daily gains are evident from Ethereum, Binance Coin, Ripple, Dogecoin, Shiba Inu, and Tron. Polygon has increased the most from the top 10, following a 2.5% daily ju...
|  | Redemption and Reshuffling: BUSD's Exit From Top 10 Cryptocurrencies Sha...
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten cryptocurrencies by market valuation have changed since the redemptions. Presently, there are only two stablecoins in the top ten standings, and the Okx exchange token, OKB, has joined the pack.2023 Records Changes in the Top 10 Cryptocurrencies by Market Capitalization
Every year, the top ten cryptocurrencies by market capitalization change significantly, such as last year when three stablecoins entered the top ten for the first time. Additionally, the number of proof-of-work (PoW) cryptocurrencies in the top ten fell to two tokens last year (BTC, DOGE), and that remains the case today.
In the 21 days since BUSD was removed from the top ten standings, the top ten cryptocurrency competitors have changed. For example, there are now only two stablecoins in the group, including tether (USDT), the third-largest cryptocurrency by market capitalization, and usd coin (USDC), the fifth-largest crypto in terms of market valuation.
A relatively new entrant into the top ten cryptocurrencies by market capitalization is polygon (MATIC), currently the tenth largest digital token by valuation. The day before Paxos announced it would no longer mint BUSD, MATIC was the tenth largest cryptocurrency by market capitalization, with an $11.55 billion market ca...
|  | NFT Sales Dip by 32% in the Last Week, Ordinals Squeeze Into Top 10 Coll...
After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week.NFT Sales Decline Following February Spike in Digital Collectible Purchases
During the past seven days, NFT sales totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, sales volume decreased by 32.32%, and NFT transactions fell 91% compared to the previous week. Ethereum dominated the market, capturing $148.56 million or 79.78% of the total. However, sales of ETH-based NFTs decreased by 37.78% compared to last week. Solana (SOL) NFT sales increased by 12.93% this week, reaching $17 million, and Polygon recorded just over $6 million in sales, a decrease of 17.34% from the previous week.
The top five NFT collections in terms of sales this week are all Ethereum-based. The best-selling collection over the past seven days was MG Land, with just over $10 million in sales, an increase of 25.49% compared to last week. The second best-selling NFT collection is Momoguro Holoself with $8,848,317 in sales, followed by Sewer Pass, which generated $7,268,598 in sales over the last seven days. The NFT collections Bored Ape Yacht Club ($6.2M) and Otherdeed ($5.35M) follow MG Land, Momoguro Holoself, and Sewer Pass.
Interestingly, Bitcoin-based NFTs, or Ordinal inscriptions, ha...
|  | A Top Italian Football Club is Taking Payments in This Cryptocurrency
AS Roma – a top Italian soccer club – is now accepting payment in DigitalBits (XDB), the self-described “leading blockchain for brands.”
Payments will be taken across five of the club’s flagship retail stores, including Via del Corso, Piazza Colonna, Ottaviano, Porta di Roma, and Fan zone at Stadio Olimpico.
AS Roma Accepts Crypto
Per a press release shared with CryptoPotato, customers will be able to use DigitalBits to purchase branded AS Roma merchandise.
Payments can be made through the AstraX mobile wallet by scanning a QR code, at which point payments are processed within a few seconds, and customers are given cash-back through XDB. They are processed by the DigitalBits blockchain, and Coinbar pay processing provides additional support.
“This is a big step for the DigitalBits community as we look to drive the adoption of crypto and Web3,” said Daniele Mensi, Managing Director at DigitalBits Foundation. “As one of the premier football clubs in the world with millions of fans worldwide, it is the perfect next step in this product-focused partnership to provide a consumer-friendly onboarding experience to the next generation of web3 users.”
Making crypto payments mainstream is an ongoing challenge for many businesses and brands as they attempt to foster cryptocurrency adoption beyond mere speculation. Economics experts – including central bankers – have often criticized Bitcoin and other cryptos f...
|  | FTX Top Executive Pleads Guilty to Fraud
Nishad Singh – the former head of engineering at bankrupt crypto exchange giant FTX – pleaded guilty to six criminal charges related to his activity with the firm during a court hearing on Tuesday.
The ex- executive’s crimes include wire fraud, conspiracy to commit wire fraud, conspiracy to commit money laundering, and violation of campaign finance laws.
Another Guilty FTX Executive
The plea, reported by Reuters, was accepted by U.S. District Judge Lewis Kaplan and is the next in a list of similar guilty admissions from fellow higher-ups in Sam Bankman-Fried’s crypto empire. Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to multiple charges related to a years-long fraud scheme at FTX in December.
Word began to spread that Singh was planning a guilty plea earlier this month, as part of a plea deal with federal prosecutors. This followed the executive’s entrance into a proffer session with the SDNY attorney’s office in January – a semi-formal discussion in which Singh had limited immunity, and where the court could determine if he had useful information related to the case.
After determining that he could assist, Singh would then be granted the opportunity for a plea deal – whereby a defendant pleads guilty and agrees to cooperate with prosecutors in return for a lesser sentence.
Singh's involvement with the alleged FTX fraud appears steep: After moving from Alameda ...
|  | BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decreas...
After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market capitalization, slipping below dogecoin's valuation with a market cap of around $11.12 billion, compared to the meme coin's $11.24 billion.BUSD Redemption: Almost $5 Billion Worth of Stablecoins Removed from Circulation in 12 Days
Since Paxos announced on Feb. 13, 2023, that it would no longer issue the dollar-pegged crypto asset BUSD, nearly $5 billion worth of BUSD stablecoins have been redeemed. At the time of the announcement, there were approximately 16.1 billion BUSD coins in circulation, but today there are around 11,129,348,406 BUSD circulating. Throughout the past 12 days and the redemption of 4.98 billion BUSD, the dollar-pegged crypto asset has remained at parity with the U.S. dollar.
On Feb. 25, 2023, Binance's reserve portfolio showed that the crypto exchange held $9.01 billion in BUSD. Globally, BUSD had a 24-hour trade volume of around $6.84 billion, with Binance being the most active BUSD exchange, according to coingecko.com stats. The majority of BUSD trades were paired with the stablecoin tether (USDT), while the Turkish lira still accounted for 2.80% of all BUSD trades on Saturday.
Currently, out of the $1.1 trillion crypto economy, BUSD accounts for 1.007% of the aggregate value. That dominance has decreased significantly ov...
|  | Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst f...
This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the 'top catalyst' that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a key ingredient to force the U.S. Federal Reserve to pivot its stance is 'a sharp drop in the stock market.”Mike McGlone Shares March Outlook for Precious Metals and Cryptocurrencies
Gold and silver prices were lower this past week, with gold close to dropping below the $1,800-per-ounce range and silver clinging just above the $20-per-ounce range. The global cryptocurrency market capitalization today is $1.08 trillion, a decrease of around 1.57% over the last day. Earlier this week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March predictions concerning assets like commodities, precious metals, equities, and bitcoin. Regarding bitcoin, McGlone questions whether the recent rally was hollow or an enduring recovery.
The Bloomberg analyst noted that 'cryptos have never faced a U.S. recession, Fed tightening, and the bitcoin 50-week moving average below the 200-week.' McGlone detailed that at some point, most risk assets will bottom, but with the U.S. central bank still in tightening mode, most markets have bounced. 'Bitcoin's 50-week moving average has never crossed below its 200-week level amid the Fed's tightening, and the crypto has bounced to this line in the sand at about ...
|  | Federal Judge Rules NBA Top Shot NFTs May Be Considered Unregistered Sec...
A federal judge, Victor Marrero, ruled on Wednesday that the NBA Top Shot non-fungible tokens (NFTs) issued by Dapper Labs may meet the requirements to be considered an unregistered security. The case arose in 2021 when an NBA Top Shot collector sued Dapper Labs, claiming that the NBA Top Shot NFTs, known as 'Moments” issued via the Flow blockchain, are securities.Judge’s Ruling Allows Friel v. Dapper Labs Case to Continue
United States District Court judge Victor Marrero agreed with the plaintiffs who filed a lawsuit against Dapper Labs on Feb. 22, 2023, noting that NBA Top Shot NFTs could plausibly be unregistered securities in the eyes of the law. On May 13, 2021, Jeeun Friel sued Dapper Labs for selling Top Shot NFTs without registering with the U.S. Securities and Exchange Commission (SEC). Dapper Labs attempted to get the court to dismiss the case, but Marrero denied the company's motion.
Marrero's ruling simply allows the case to continue based on the judge's opinion that NBA Top Shot NFTs may be considered a security. Marrero said the ruling does not apply to the sale and distribution of FLOW, the Flow blockchain's native crypto asset. However, the Howey Test was applied to the NBA Top Shot 'Moments' NFTs, and the Howey analysis is what supports the judge's decision.
'Although the literal word ‘profit’ is not included in any of the tweets, the ‘rocket ship’ emoji, ‘stock chart’ emoji, and ‘money bags’ emoji o...
|  | NBA Top Shots NFTs Might Be Securities, Rules Federal Judge in Dapper La...
Dapper Labs will be forced to face a lawsuit from the Securities and Exchange Commission (SEC) alleging that the NFT Top Shot NFT Moments on its platform are unregistered securities, following a judge’s refusal to dismiss the case on Wednesday.
United States District Court Judge Victor Marrero ruled that such NFTs may plausibly qualify as securities under the Howey Test.
Are NFTs Securities?
Per Marreno’s ruling, part of what makes the SEC’s allegations “facially plausible” is that the NFTs in question circulate on the Flow blockchain – a private network developed and maintained by Dapper. Without Dapper’s efforts, such NFTs would theoretically have no value, ticking the final prong of the Howey Test requiring another party’s efforts to uphold an investment’s value.
“The economic realities and technological interplay between FLOW, the Flow blockchain, and Moments, as alleged by Plaintiffs, are what supports the Court’s conclusions,” read the filing.
The Howey Test is a legal standard used since the 1930s for determining what assets constitute securities. It is often invoked by the SEC today when making rulings pertaining to cryptocurrencies and NFTs, of which the agency’s chairman – Gary Gensler – believes a vast majority are securities.
Howey requires that an investment be made in a common enterprise, with an expectation of profits based on the efforts of others. The f...
|  | Paraguay to Become Top Bitcoin Mining Hub in Latam According to Insight ...
Paraguay, one of the smallest countries in Latam, has the conditions needed to become the next Bitcoin mining hub in the region, according to mining insight group Hashrate Index. The company notes there are many elements in favor of Paraguay, including the abundance of clean hydroelectric power sources. However, the stance that the government has taken toward cryptocurrency mining could slow this growth process.
Paraguay Has All the Elements to Become a Bitcoin Mining Power in Latam, According to Insight Group
Paraguay, a country not especially known for its crypto affiliations, is now being considered one of the most attractive destinations in Latam for bitcoin miners. According to mining insight company Hashrate Index, the country presents a series of benefits that could help it become one of the biggest cryptocurrency hubs in the region.
The first advantage that Paraguay has over other countries in the area, and what made it an attractive location for miners after the Chinese miner exodus, is the abundance of clean, cheap hydroelectric power, that can be used to build large bitcoin mining operations. Most of this power comes from the Itaipu Dam, with Paraguayans reportedly consuming only about 10% of the power produced.
While most of this energy gets exported to neighboring countries, it can be sourced to power big mining operations in the future, according to the group.
Some Disadvantages
Hashrate Index says there are currently two different disadvantages of choos...
|  | Metaverse, AI, and Liquid Staking Tokens Lead Year-to-Date Crypto Asset ...
In 2023, the leading crypto assets, such as bitcoin and ethereum, have captured decent gains. Bitcoin has increased 17.2% over the last 30 days, and ethereum has risen 9.3% in the same timeframe. However, year-to-date statistics show that bitcoin is down 38.3%, and ethereum has lost 39.3% against the U.S. dollar. The following presents a look at 12 crypto assets that have increased in value during the last 12 months.12 Crypto Assets With Year-to-Date Gains Against the Greenback
Crypto assets rebounded in 2023 and are faring much better than they were last year. Out of the top 125 cryptocurrencies in terms of the largest market capitalizations, only 9.6%, or 12 digital currencies, have seen year-to-date gains. The leader among the 12 crypto assets is the native token to the Binance Smart Chain (BSC) game Cyberdragon. The token, called binary x (BNX), has gained 613% against the U.S. dollar since this day last year. BNX is followed by the artificial intelligence cryptoasset singularity net (AGIX), which has gained 277% year-to-date.
AGIX is followed by the Okx exchange token OKB, which has seen an increase of around 169% over the last year. OKB is followed by trust wallet token (TWT), as TWT has gained 162.34% against the U.S. dollar in 12 months. Two tokens associated with liquid staking protocols follow TWT. Lido dao (LDO) has increased by 116%, and rocket pool (RPL) has climbed 80% over the past year. The AI crypto token fetch.ai (FET) rose 30.26%, and quant network (QNT) j...
|  | Is Joe Biden's Pick for Top Economic Adviser Good or Bad for Crypto?
The President of the United States - Joe Biden - will reportedly appoint Lael Brainard (Vice Chair of the Federal Reserve) as his top economic adviser.
The latter is a critic of cryptocurrencies, arguing they could undermine America's financial stability. On the other hand, she is a proponent of a digital dollar that would be highly centralized and monitored by the authorities.
Anti-Crypto Position
According to a Bloomberg coverage, President Biden will soon name Lael Brainard as his top financial adviser. She previously worked at the White House, serving as a Deputy Director of the National Economic Council (NEC) under President Bill Clinton. Brainard was also nominated as a Fed Governor in 2014 by Barack Obama.
The Democrat is known as an opponent of cryptocurrencies, opining that bank involvement in the asset class could cause monetary chaos. She believes a potential crash of the digital asset market could resonate in the financial sector.
Brainard expressed concerns about Decentralized Finance (DeFi), saying the new technology could be a catalyst for possible illicit activities:
'The permissionless exchange of assets and tools that obscure the source of funds not only facilitate evasion, but also increase the risk of theft, hacks, and ransom attacks.'
Lael Brainard, Source: Fox Business
Pro-CBDC
At the same time, Biden's future economic adviser is fond of the creation of a digital dollar. She announced that America's central bank was working on s...
|  | Nigerian City of Lagos Among the World's Top 20 Crypto Hub Cities &mdash...
According to the findings of a study by Recap, the crypto asset management firm, the Nigerian city of Lagos is ranked among the world's top 20 crypto hub cities. Besides Lagos, five more African cities, namely the Angolan city of Luanda, Nigeria's Ibadan, and three South African cities — Cape Town, Johannesburg and Pretoria — feature among the 50 top-ranked crypto hub cities.Lagos Among Cities With Most People 'Working in Crypto-Based Jobs'
According to the findings of a recent study by Recap, a crypto asset management firm, the Nigerian city of Lagos is the only African city that features on its list of top 20 crypto hub cities. With a total score of 261.2 points, Lagos is only outranked by 13 major cities out of the over 200 'most populated cities in the world' that were surveyed.
As shown by the study findings, while the city has one of the lowest figures for crypto-related events held or the number of installed bitcoin automated teller machines (ATMs), it nonetheless boasts the highest (45%) proportion of crypto holders relative to the population size. In addition, the data shows that Lagos ranks among cities with the highest numbers of individuals 'working in crypto-based jobs.' Only London, Dubai, New York City, Singapore, Los Angeles, and Paris have more people working on such crypto-related jobs.
While Lagos — one of Africa’s most populous cities — is among the top 20 crypto hub cities, Ibadan, a city in southwest Nigeria, is ranked 24th ...
|  | Law Firm Subpoenas FTX Co-Founder, Top Executives, and Former Alameda CE...
On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the 'Alameda Loan Agreement' between Alameda Ventures and Voyager, as well as other important documents. Additionally, Voyager Digital has subpoenaed former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and former FTX head of product and investor relations Ramnik Arora.Law Firm Kirkland & Ellis Requests Documentation for Proposed FTX-Voyager Deal
Kirkland & Ellis, the law firm representing the now-bankrupt crypto lender Voyager Digital, has sent a subpoena to former FTX and Alameda staff including Sam Bankman-Fried, Caroline Ellison, Gary Wang, and Ramnik Arora. The lawyers are requesting that the parties produce all documentation and communications associated with the Voyager deal between Alameda Ventures and West Realm Shire Inc., also known as FTX.
Prior to FTX's collapse, FTX and Bankman-Fried insisted that the crypto exchange would help Voyager's customers obtain liquidity in July 2022. Bankman-Fried tweeted that he was 'happy to do what we can to get liquidity to Voyager's customers' and published a press release on PR Newswire detailing how FTX would help the insolvent crypto firm. After the statement from Bankman-Fried and FTX, reports emerged that FTX would purchase Voyager and its assets for $1.4 billion.
However, on October 14, ...
|  | Market Strategist Predicts Gold Will Be the Top Performer in 2023 Over C...
Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview published Thursday, Soloway emphasized his belief that 'gold will be the best performer' this year and stated that the U.S. Federal Reserve will not cut rates until a 'massively nasty recession' occurs.Gold to Outperform Major Assets in 2023: Strategist Gareth Soloway's Market Prediction
Many analysts, market strategists, and economists are making predictions about asset prices and performances in 2023. Some predict that gold and cryptocurrencies will perform well, while others expect less favorable outcomes.
On Jan. 27, 2023, in an interview published Thursday, Kitco News Anchor and Producer David Lin spoke with Gareth Soloway, president of inthemoneystocks.com, about the outlook for gold and cryptocurrencies such as bitcoin (BTC). Soloway expressed a firm belief in gold's performance this year and told Lin that it will outperform most major assets.
'I still think gold will be the best performer [this year],' Soloway said to the host. 'You can't get away from the fact that the Fed is now keeping interest rates where they are. They're probably going to tighten a little bit more, but the bottom line is they're not going to be looking to cut until we see a massively nasty recession,' the market strategist added.
The financial analyst Soloway is not alone in his belief that gold prices will surge this ...
|  | Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland'...
During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland's MANA and The Sandbox's SAND rising 92-150% against the greenback.Metaverse Crypto Assets Outshine Bitcoin and Ethereum
Metaverse crypto assets have outperformed both bitcoin (BTC) and ethereum (ETH), the leading crypto asset and top smart contract token, respectively. In the past month, Decentraland's MANA token has been the top performer, rising 150% against the U.S. dollar. Over the last two weeks, MANA climbed 7.3%, and in the past seven days, it rose 2.9%. On January 31, 2023, a single MANA was trading for $0.716 to $0.755 per unit.
The Sandbox's SAND metaverse token has increased 92% in the past 30 days and has risen 5% in the last two weeks. However, despite the 30-day increase, seven-day metrics show a 7.5% decrease in SAND. On Tuesday, SAND was trading at a 24-hour spot price of $0.710 to $0.741 per unit. Another top-performing metaverse token this past month was Axie Infinity's AXS, which has risen 80% higher than the previous month. In the last two weeks, AXS has climbed 21.5%, but it has fallen 11.4% in the last week. On Tuesday, AXS was trading at a price of $10.55 to $11.23 per coin.
Following Axie Infinity's AXS increase in value over the past month, the Apecoin project's APE token has rise...
|  | Top 5 GameFi Cryptos To Watch This February
With so many sharp twists and turns happening in the blockchain and crypto space, the GameFi space is getting robust now more than ever. Evidently, experts say that 2023 is the 'build phase' for GameFi and it is set to explode in the next couple of months.
Considerably, blockchain games are seen to have doubled since last year. In fact, in 2021, blockchain games were able to amass as much as $476 million in revenues. The year 2022 was also a phenomenal year for the play-to-earn (P2E) industry.
Here Are The Top 5 GameFi Cryptos To Watch This Year
Avalanche (AVAX)
Avalanche is known for its scalability and security. It’s also a winner in terms of customer experience compared to other blockchain platforms. It is an open-source platform that allows users to build and release their very own decentralized applications (dApps).
It clearly tops the list when it comes to the platform of choice due to its smooth, speedy, and secure transactions which also increases the demand for AVAX tokens.
At the time of writing, AVAX is trading at $19.55, up 8.3% in the last seven days, data from Coingecko shows.
Metacade (MCADE)
Metacade has an obvious edge being the first-of-its-kind metaverse arcade ever built on top of the Ethereum blockchain.
It has a massive P2E potential. Its goal is to ultimately morph into a decentralized autonomous organization (DAO) which will start in the Q2 of this year and end in Q4 of 2024.
With the strong roadmap and long-term potential of Metacade, a...
|  | Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa's T...
In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa's top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank of Ghana data, one greenback buys around 10.36 units of the local currency. The Cedi's Short-Lived Resurgence
After ending 2022 as one of the world’s worst-performing currencies, the Ghanaian currency is already one of two in Sub-Saharan Africa's top 15 currencies that depreciated by double-digit figures within the first 17 days of the new year, a report has said. The Egyptian pound, which depreciated by 16.5% during the same period, is the only currency among Sub-Saharan Africa’s top 15 that has depreciated faster than the cedi.
Although the Ghanaian cedi’s year-to-date 12.7% drop is still lower than that of the whole of 2022 (38.86%), the latest depreciation suggests that the currency’s resurgence that started in late 2022 has dissipated.
As reported by Bitcoin.com News in mid-December 2022, the cedi rallied from around GHS14:$1 to under 9:1 in just four days. The currency’s revival had been fueled by reports suggesting the Ghanaian government had secured a $3 billion loan from the International Monetary Fund (IMF). Ghana needs the loan to help it stabilize its economy.
In addition to the IMF loan package, Ghana, one of Africa’s top gold producers, hopes ...
|  | Cardano (ADA) Appears In Top Trending Crypto List, Surpassing BTC
Weeks have gone by, and the crypto market is still seeing a bullish trend, and the dubbed ‘mini bull run’ for the ongoing market movement is beginning to look more prominent. Altcoins such as Cardano (ADA) have moved significantly in price breaking multiple resistance and climbing higher highs while ignoring a retrace.
In today’s news, ADA has once again proven its potential to be small but mighty as the token appeared in the top trending crypto list on the crypto analytics platform StockTwits, surpassing Bitcoin (BTC), which comes second below ADA.
ADA Obtains First Position In Top Trending Crypto List
In a series of tweets shared by StockTwits, the crypto analytics platform ranked ADA as the most trending cryptocurrency on the platform, noting; “Cardano is also trending #1 on Stocktwits!.” At the time, ADA had a trading price of $0.3774, up by 11%, and a change of $0.0382.
Aside from its position on StockTwits, ADA still appears to have significant potential as it still ranks higher on other platforms such CoinGecko and Coinmarketcap, competing with the other big dogs like Bitcoin (BTC), Ethereum (ETH), and the rest.
CoinGecko and Coinmarketcap rank ADA as the eighth cryptocurrency with the highest market capitalization, having a 1.2% dominance in the global crypto market cap. Notably, ranking second below ADA on StockTwits was BTC having a trading price of $23,195, up by 8.47% at the time, with a change of $1,810.42.
Other c...
|  | Bitcoin Short Squeeze May Reach $30,000, Top Crypto Trader Predicts
As Bitcoin breaks out of the $21k level, many crypto analysts have begun projecting further rallies for the asset. One of the famous crypto strategists, Crypto Kaleo, recently gave a high price prediction for the world’s largest cryptocurrency.
Addressing his over 550,000 followers on Twitter, Kaleo says BTC is preparing for a rally to $30,000. Bitcoin last saw $30,000 during the bear market in June 2022. However, the crypto strategist believes there would be fluctuations as Bitcoin targets $30,000, albeit his bullish stance.
In his words, the market should expect more falls before Bitcoin reaches $30,000. According to Kaleo, there would be some lows beneath $20k, which would trigger lower positions before Bitcoin can be ready for the short squeeze.
A short squeeze occurs when crypto traders borrow assets at a particular price, hoping to sell them lower and keep the difference. These traders often use overleverage short positions in the futures market. However, the traders would have no choice but to buy the borrowed assets as price propulsion pushes against them, sparking more rallies as market makers take out their liquidity to keep the momentum.
Kaleo is confident that the short squeeze is approaching since the BTC price has already jumped above 23% within seven days.
Bitcoin Rally Could Signal Increased Volatility
BTC has witnessed several bullish indicators since the beginning of 2023, bringing it to a year-high of over $21,000. Bitcoin’s bullish...
|  | XRP Transactions Skyrocket In Australian Top Exchanges
Ripple has reached a new milestone in Australia with its native token, XRP, recording the highest trading volumes on exchanges. With this, Ripple now dominates Australian crypto exchanges as the XRP community anticipates a final court ruling in the lawsuit with the U.S. SEC (Securities And Exchange Commission).
The news came from Financial Review, an Australian media outlet shared on Twitter by Neil Smith, Ripple’s partner engineer, and Aussie firm, Blockchain Australia.
Ripple now dominates Australian crypto exchange volumes #XRP https://t.co/yaeFIqsNIn
— Neil Smith (@nsmithau) January 18, 2023
Reason For XRP Performance In Australia
According to the report, Ripple’s cross-border remittance payment (ODL) use case adoption gets the credit for this achievement. Ripple on-demand liquidity makes XRP suitable for cross-border payments as it helps customers access liquidity using this token.
XRP itself serves as a bridge token between fiat currencies. It allows users to make payments in local currency at the payment destination within seconds, hence the name, on-demand liquidity.
Following the report's details, Ripple's native coin contributed to 62% of the trading volumes on the BTC Market, a Melbourne-based exchange. It also accounted for 82% of the Independent Reserve Exchange over the past day.
CEO of BTC Markets Caroline Bowler said her crypto exchange is a Ripple on-demand (ODL) liquidity partner in Australia. That explains XRP's dominance in...
|  | Solana (SOL) Outperforms Top Coins With 28% Gains On Weekly Chart
Solana (SOL) recovered from the slight pullback yesterday, even when the general crypto market cap dropped today. SOL which has been on an uptrend in the past week saw a 28.44% increase during this time. This increase might be due to combined economic factors and Solana's growing utility among crypto users.
What Is Driving The Price Of Solana? The Solana network is enjoying more attention from the increased crypto awareness and adoption among individual and institutional investors. Cardano (ADA), Which Is The Better Investment In 2023?
The SOL network provides developers access and a framework to build DApps on its blockchain. For instance, Phantom, a crypto wallet, is hosted on the Solana blockchain. The wallet supports decentralized finance, staking, and NFT transactions for Solana users.
Also, SolanaMobile, on Twitter, announced its intention to launch Solana Mobile Stack and Saga phones. The mobile phone will bring the Solana blockchain to the fingertips of users. Users are keen on the launch of the device, slated for this early this year.
Additionally, as an altcoin, Solana correlates to bitcoin in price action. So, Bitcoin's recent rally and other economic factors might be influencing SOL's price.
The macroeconomic factors affecting SOL price include a low Consumer Price Index (CPI) value for December 2022. The CPI notes the overall change in consumer prices in a specific timeframe. These factors combined could be responsible for SOL's price surge in the pa...
|  | Bitcoin Price Could Top In Short Term, Why Dips Might Be Attractive
Bitcoin price is still struggling to clear the $21,500 resistance zone. BTC could correct further lower if there is a clear move below the $20,500 support zone.
Bitcoin struggled to clear the $21,500 resistance zone and corrected lower. The price is trading below $21,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down below the $20,650 and $20,500 support levels. Bitcoin Price Starts Downside Correction
Bitcoin price failed to clear the key hurdle near the $21,500 resistance zone. BTC started a downside correction from the $21,639 swing high. It traded below the $21,500 and $21,250 levels.
There was a break below a key bullish trend line with support near $21,150 on the hourly chart of the BTC/USD pair. The price even broke the $20,800 support zone. A low is formed near $20,395 and the price is now showing a few bearish signs.
Bitcoin price is now trading below $21,000 and the 100 hourly simple moving average. It is consolidating above the 23.6% Fib retracement level of the recent decline from the $21,639 swing high to $20,395 low.
An immediate resistance is near the $20,850 level. The next major resistance is near the $21,080 zone. It is near the 50% Fib retracement level of the recent decline from the $21,639 swing high to $20,395 low, above which the price might gain bullish momentum.
Source: BTCUSD on ...
|  | Bitcoin Price Spike May Push Rally To This Amount, Top Analyst Predicts
The recent surge in the price of Bitcoin has revived hope in crypto assets. To this point, pseudonymous crypto analyst Cheds stated that a massive rally might not be far-fetched for BTC soon.
The crypto market struggled with rising inflation rates and other negative factors in 2022. However, in 2023, BTC has picked up positive price momentum, with some investors believing the worst days are over. Ched's prediction is bullish on the performance of BTC in the future.
$BTC visual of this potential bull thesis on daily https://t.co/eUfkmAOx5N pic.twitter.com/UVOCTjctZl
— Cheds (Trading Quotes) (@BigCheds) January 14, 2023
Cheds on Twitter gave his forecast on the BTC price based on his technical analysis. He stated that Bitcoin might see a bullish reversal. In his words, above $18,200 opens up the possibility of an inverse head and shoulders complex, multiple shoulders and head with neck base at $25,500.
His optimistic forecast has Bitcoin soaring up to the $37,000 level, which will be a 76% increase from its current value. He suggested that fear of missing out (FOMO) will drive more traders to chase BTC rallies.
Bitcoin also closed above its 200-day moving average. Ched labeled this move a sign of BTC's strength. He believes the altcoins will also spark to life once Bitcoin and Ethereum slow down to consolidate their positions.
Tim Draper, a BTC bull, was more optimistic about the price movement of Bitcoin. His analysis predicted that Bitcoin would be worth $250,00...
|  | MANA Soared 75% This Week, Entering The Top 100
According to CoinMarketCap’s data, Decentraland's native token, MANA, has gained 17.59% in the last 24 hours, following the stellar performance of metaverse tokens since the start of the new year. MANA is one of the top 100 cryptocurrencies and has grown by 95% in the last month. In addition, it has been in the green for 14 of the previous 16 days.
What Pushed MANA To The Sky? At the time of writing, MANA is trading at $0.6887. Since last week, the token's price has increased by approximately 70%, bringing its market capitalization to $1,2 million. As investor opinion in the crypto markets has improved in response to positive macroeconomic news, smaller market cap cryptocurrencies have outperformed their larger competitors.
#mana pump was inevitable, @decentraland is the platform of the future. NOW pic.twitter.com/x2LLJrCWO1
— jasonx.eth (@DCLjasonx) January 15, 2023
The recent U.S. economic data is also why the increase in MANA price. According to data released last week, US inflation has been trending downward over the past few months. From its all-time high of 9.1% in 2022 down to 6.5% in December of that year, the Bureau of Labor Statistics reports a dramatic decline in the consumer price index (CPI) for the United States.
The U.S. Federal Reserve (Fed) has been hiking interest rates to bring down inflation. This data suggest their efforts are working, and the market is feeling more optimistic as the chances of a monetary policy pivot are increasing, a...
|  | NFT Sales Drop 59% in Second Week of 2023; Ethereum Dominates Top 20 Blo...
Non-fungible token (NFT) sales have dropped significantly in contrast to the seven days prior, as NFT sales are down 59.35% this week. During the past seven days, $208.68 million in NFT sales were recorded, with $157.20 stemming from the Ethereum blockchain. The top-selling NFT collection this past week was the Bored Ape Yacht Club (BAYC), with $16.69 million in sales, equating to 7.998% of the $208 million in sales this week.Ethereum and Solana Lead NFT Sales Among Top 20 Blockchains Amid Lower Digital Collectible Sales This Week
During the first week of 2023, NFT sales were up 26% compared to the final week of 2022. However, on Sunday, Jan. 15, 2023, sales were down 59.35% from the previous week. Of the top 20 blockchains that issue NFTs, Ethereum accounted for 75.33% of the sales recorded between Jan. 8 and Jan. 15, 2023.
Solana held the second-largest position in terms of NFT sales, with 18.04% of the week's total sales, or $37.66 million. Ethereum and Solana were followed by Immutable X, Binance Coin (BNB), and Cardano as the top five chains in terms of this week's NFT sales data.
The top five NFT collections this week in terms of total sales include the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, Art Blocks, and Bored Ape Kennel Club. These are followed by Otherdeed, Sorare, The Captainz, Beanz, and Mutant Hound Collars.
According to data from nftpricefloor.com, the BAYC collection had the highest floor value in terms of NFT floor values on Sunda...
|  | Cardano Follows Bullish Sentiment, Why ADA Could Become Top 3 Coin
Cardano (ADA) follows the market's general sentiment and records positive price action on a low timeframe. The cryptocurrency has been trading heavily since the sector took another dive into its current levels, but there is light at the of the tunnel.
Cardano (ADA) trades at $0.32, with a 12% rally in the last 24 hours. Over the previous week, the token records a 29% profit and stands as the best-performing crypto asset for this period. Other cryptocurrencies in the top 10 are seeing similar price action.
Cardano Will Take Over Higher Spots In Top 10 By Market Cap
According to a pseudonym Cardano bull, the cryptocurrency is underpriced. The token has suffered along with other risks on assets due to tighter macroeconomic conditions. Despite the downside trend, ADA remained one of the largest cryptocurrencies by market capitalization.
Cardano first entered this ranking in late 2021, at the high of the previous crypto bullish cycle. At that time, the company behind its development introduced a series of improvements and rollout smart contract capabilities on the platform.
These improvements made Cardano compatible with decentralized finance (DeFi) applications and took it to the top of several metrics, including monthly contributions from developers. The ADA ecosystem bloomed.
Two weeks ago, as NewsBTC reported, there was another spike in Cardano's on-chain activity. These metrics support ADA's bullish thesis as they hint at seller exhaustion following ...
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