Bitcoin
Bitcoin Network and BlockDAG Among Top “Crypto Gainers” of the Year
BlockDAG Network
London, United Kingdom, May 9, 2024 (GLOBE NEWSWIRE) — The year 2024 has proven to be an exceptional year for the cryptocurrency market. The introduction of Bitcoin ETFs in the United States generated a wave of positive sentiment across the industry, boosting not just Bitcoin but virtually the entire spectrum of crypto assets.
As we navigate this dynamic landscape, we aim to highlight the year’s top “crypto-winners” – the fastest growing cryptocurrency assets in 2024. By identifying these projects, we provide insights into which digital assets have demonstrated the most robust growth to date in the year and the names that investors should pay attention to in the coming months.
Among these featured artists are the iconic Bitcoin and the more recent BlockDAG Networka rising star in the blockchain space, positioned as one of the most traded and influential coins in the industry today.
Top “crypto earners” in 2024 – Bitcoin in first place
Bitcoin, the original cryptocurrency, has long been hailed as the “gold standard” of digital assets. Its journey from obscurity to mainstream adoption has been nothing short of remarkable. In 2024, Bitcoin reached new heights, also driven by the introduction of Bitcoin ETFs in the United States. This opened the floodgates for institutional investors, injecting new capital into the crypto market and driving prices to unprecedented levels.
March witnessed Bitcoin reaching its highest peak as prices rose to $73,500. This historic milestone highlighted Bitcoin’s resilience and enduring appeal as a store of value and hedge against inflation. The event was also punctuated by the April halving, a recurring phenomenon incorporated into the Bitcoin protocol that reduces the rate of creation of new coins. This scarcity mechanism has historically fueled price surges, leading many analysts to speculate about Bitcoin’s future trajectory.
Looking ahead, analysts predict that Bitcoin could reach $100,000 by September 2024, driven by a confluence of factors including growing institutional adoption, the proximity of the US presidential election, decreasing supply and increasing general acceptance. This bullish sentiment has energized the crypto community and propelled Bitcoin once again to the forefront of global financial discussions.
BlockDAG Network comes in second place
Amid this scenario of Bitcoin’s rise, BlockDAG Network stood out as one of the best performers of the year. Leveraging its innovative architecture and strategic market presence, BlockDAG Network has captured the imagination and attention of a global cross-section of digital investors. With its focus on scalability, security and democracy, BlockDAG Network gained prominence in the sector that has now positioned it among the biggest earners of the year.
The story continues
This position and title was obtained through a series of notable achievements and milestones achieved by the project in just a short span of time. BlockDAG Network’s growth trajectory has been impressive, marked by a steady expansion of its user base and global audience.
This increased interest and adoption has translated into tangible results, with BlockDAG Network pre-sales recently surpassing the $24 million mark in funds raised. This substantial inflow of capital is a testament to the project’s solid fundamentals, as well as investors’ confidence in its vision and execution.
Additionally, BlockDAG Network’s strategic approach to community engagement and outreach has further boosted its growth and visibility. Through active participation in industry events, strategic partnerships, and targeted marketing efforts, BlockDAG has effectively expanded its reach and solidified its position as a leader in the blockchain and mobile mining space. The project’s commitment to transparency and frequent updates has fostered trust and enthusiasm among its growing global community, which further drives adoption and usage of its platform.
In terms of innovation, BlockDAG Network continues to push the boundaries of what is possible in blockchain technology, introducing new features and solutions that address real-world challenges. Whether improving scalability, improving transaction speeds, or strengthening security measures, the BlockDAG Network remains at the forefront of innovation, driving progress and shaping the future of decentralized finance. The project’s dedication to continuous research and technical development ensures that it remains ahead of the curve, anticipating and adapting to emerging trends and opportunities in the rapidly evolving crypto landscape.
Looking ahead, BlockDAG Network is poised for even greater success as it continues to execute on its ambitious roadmap and vision. With a growing, global community of supporters, a robust infrastructure, and a clear focus on delivering value to users, BlockDAG Network is well positioned to sustain its momentum and solidify its position as a top performer in the crypto market. As the project continues to gain traction and recognition as one of the top performers in the digital finance space, investors and stakeholders can look forward to an exciting journey of growth, innovation, and passive prosperity with the BlockDAG Network.
As we reflect on the year’s top crypto winners, it is clear that Bitcoin and the BlockDAG Network stand out as good examples of success and resilience in the digital finance industry. With Bitcoin leading the charge towards $100,000 and the BlockDAG Network paving its own path to prominence, the future of cryptocurrency has never looked brighter.
Read about BlockDAG pre-sale:
Website: https://blockdag.network
Pre sale: https://purchase.blockdag.network
Telegram:https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. It is highly recommended that you practice due diligence, including consulting with a professional financial advisor, before investing or trading cryptocurrencies and securities.
CONTACT: Brown Williams support (at) blockdag.network
Bitcoin
Bitcoin (BTC), Stocks Bleed as China’s Surprise Rate Cut Signals Panic, Treasury Yield Curve Steepens
Risk assets fell on Thursday as China’s second rate cut in a week raised concerns of instability in the world’s second-largest economy.
Bitcoin (BTC)the leading cryptocurrency by market cap, is down nearly 2% since midnight UTC to around $64,000 and ether (ETH) fell more than 5%, dragging the broader altcoin market lower. The CoinDesk 20 Index (CD20), a measure of the broader cryptocurrency market, lost 4.6% in 24 hours.
In equity markets, Germany’s DAX, France’s CAC and the euro zone’s Euro Stoxx 50 all fell more than 1.5%, and futures linked to the tech-heavy Nasdaq 100 were down slightly after the index’s 3% drop on Wednesday, according to the data source. Investing.com.
On Thursday morning, the People’s Bank of China (PBoC) announced a surprise, cut outside the schedule in its one-year medium-term lending rate to 2.3% from 2.5%, injecting 200 billion yuan ($27.5 billion) of liquidity into the market. That is the biggest reduction since 2020.
The movement, together with similar reductions in other lending rates earlier this week shows the urgency among policymakers to sustain growth after their recent third plenary offered little hope of a boost. Data released earlier this month showed China’s economy expanded 4.7% in the second quarter at an annualized pace, much weaker than the 5.1% estimated and slower than the 5.3% in the first quarter.
“Equity futures are flat after yesterday’s bloody session that shook sentiment across asset classes,” Ilan Solot, senior global strategist at Marex Solutions, said in a note shared with CoinDesk. “The PBoC’s decision to cut rates in a surprise move has only added to the sense of panic.” Marex Solutions, a division of global financial platform Marex, specializes in creating and distributing custom derivatives products and issuing structured products tied to cryptocurrencies.
Solot noted the continued “steepening of the US Treasury yield curve” as a threat to risk assets including cryptocurrencies, echoing CoinDesk Reports since the beginning of this month.
The yield curve steepens when the difference between longer-duration and shorter-duration bond yields widens. This month, the spread between 10-year and two-year Treasury yields widened by 20 basis points to -0.12 basis points (bps), mainly due to stickier 10-year yields.
“For me, the biggest concern is the shape of the US yield curve, which continues to steepen. The 2- and 10-year curve is not only -12 bps inverted, compared to -50 bps last month. The recent moves have been led by the rise in back-end [10y] yields and lower-than-expected decline in yields,” Solot said.
That’s a sign that markets expect the Fed to cut rates but see tighter inflation and expansionary fiscal policy as growing risks, Solot said.
Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.
Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.
Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.
July 24, 2024, 5:30 p.m.
Updated July 24, 2024, 5:35 p.m.
(Benjamin Cheng/Unsplash)
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Bitcoin
India to Release Crypto Policy Position by September After Consultations with Stakeholders: Report
“The policy position is how one consults with relevant stakeholders, so it’s to go out in public and say here’s a discussion paper, these are the issues and then stakeholders will give their views,” said Seth, who is the Secretary for Economic Affairs. “A cross-ministerial group is currently looking at a broader policy on cryptocurrencies. We hope to release the discussion paper before September.”
Ether, the second-largest token, fueled a slide in digital assets after a stock rout spread unease across global markets.
Ether fell about 6%, the most in three weeks, and was trading at $3,188 as of 6:45 a.m. Thursday in London. Market leader Bitcoin fell about 3% to $64,260.
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