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Will Izuchukwu

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Bitcoin Surges To $70K Amidst Major Accumulation, Mixed Signals Ahead

Bitcoin surprised traders yesterday with a sudden surge to $70,000, catching many off guard. This ascent coincided with one of the largest accumulation days for Bitcoin stakeholders in recent memory. On Sunday alone, wallets holding between 10 and 10,000 BTC accumulated a total of 51,959 Bitcoin. This significant accumulation represents 0.263% of the entire available supply in just one day. https://twitter.com/santimentfeed/status/1772295815421362413?t=2LQ_YWxL7frGnc94PqHjRw&s=19 As the halving on April 19th approaches, it's expected that these wallets will continue to grow, potentially boosting the overall market caps across the cryptocurrency landscape. However, it's crucial that this accumulation doesn't come at the expense of large holders of stablecoins like USDT and USDC. These reserves, often referred to as "dry powder," are essential for maintaining the ability to quickly swap for more cryptocurrency when opportunities arise. Bitcoin Could Break Resistance Soon Following This Pattern Analysts, such […]

Will Izuchukwu March 26, 2024

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Chainlink’s Cross-Chain Interoperability Protocol Sees Record Growth And Integrations

Chainlink's Cross-Chain Interoperability Protocol (CCIP) has experienced substantial growth in recent months, with key metrics reaching record highs in March.  The protocol has captured over $207,000 in fees and accepted 48,000 requests this month alone, marking significant milestones in its development.  https://twitter.com/WuBlockchain/status/1772090010906624174?t=3Zrqf7XbbZDVLDEA43aEwg&s=19 Currently, the CCIP's capture fee surpasses $470,000, with the cumulative number of requests exceeding 81,000, indicating strong demand and adoption within the blockchain ecosystem. Notably, Chainlink has expanded its reach through integrations with various blockchain networks, including Arbitrum, Avalanche (AVAX), Binance Smart Chain (BNBCHAIN), Ethereum, Fantom, Optimism, and Polygon.  https://twitter.com/chainlink/status/1772019888325828836?t=7_NVgHOGdQj-ctrQsoR3EA&s=19 This expansion includes partnerships with prominent projects such as Cakepiexyz, FungifyNFT, Micro3io, OpenOceanGlobal, slashtoken_io, StakeDAOHQ, swellnetworkio, thestandard_io, and UniLend_Finance, further enhancing the interoperability and functionality of the Chainlink ecosystem. Avalanche Partnership With Chainlink Leads Go Price Increase On Both Altcoins In a significant development, Avalanche (AVAX) and Chainlink […]

Will Izuchukwu March 25, 2024

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DAO Maker Surges As PUNDU Launches: A Look At Recent Developments

The cryptocurrency market is abuzz with activity, particularly for DAO Maker, a pioneering decentralized autonomous organization (DAO) platform.  As of the latest update, DAO's token is trading at $2.5, marking a significant 14% surge amidst what appears to be a bearish trend in the wider crypto market. This surge is accompanied by a robust 24-hour trading volume of $76.2 million, as reported by CoinMarketCap. The recent uptick in DAO's price can be largely attributed to the launch of PUNDU, a new venture introduced by DAO Maker. The unveiling of PUNDU has generated considerable excitement within the crypto community, leading to heightened interest in DAO's token. PUNDU's sale has commenced on DAO Pad, providing users with the opportunity to participate by contributing USDT on the Binance Smart Chain (BSC). Within a mere 12 hours since the launch, the PUNDU sale has […]

Will Izuchukwu March 23, 2024

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BlackRock Launches Tokenized Asset Fund On Ethereum Network

In a significant move for the crypto industry, BlackRock has debuted its tokenized asset fund on the Ethereum network and solidified its commitment to asset tokenization by investing in Securitize, a leading company in the field. The fund, represented by the blockchain-based BUIDL token, boasts full backing from cash, U.S. Treasuries, and repurchase agreements.  https://twitter.com/WuBlockchain/status/1770620850842350024?t=wfsUZnUCDtuJ4f2_XZqfHg&s=19 Moreover, it promises to distribute daily earnings to token holders via the blockchain, marking a pioneering step in traditional finance's integration with blockchain technology. Paul Grewal, Coinbase's chief legal officer, weighed in on Ethereum's regulatory status, asserting that ETH should be classified as a commodity rather than a security. This stance aligns with the SEC's long-standing position and has been reinforced by unanimous rulings from the CFTC and federal courts.  https://twitter.com/iampaulgrewal/status/1770594620969501035?t=BWRmrhg73hHDaZJVRNGMtA&s=19 Grewal's comments come amidst anticipation surrounding the approval of an Ethereum Exchange-Traded Product (ETP) […]

Will Izuchukwu March 21, 2024

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Crypto Market Sees Modest Recovery Amidst Bearish Trends

After a sluggish start to the trading week, the cryptocurrency market has shown signs of a slight rebound today across various assets, providing a glimmer of optimism for traders and investors alike. Recent on-chain reports have shed light on the movements of smart money players within the market, particularly in response to the recent pullback. Notably, a group of investors who capitalized on the liquidation of $PEPE tokens on March 1, generating a profit of $3.49 million, appears to be strategically positioning themselves for future opportunities amidst the market downturn. https://twitter.com/ai_9684xtpa/status/1770330044067398078?t=4V-cst0a4mnxAOQsSx1Lnw&s=19 Over the past six hours, this cohort of savvy investors has executed a series of asset transfers totaling more than $3.38 million from the popular exchange platform Binance. Notably, this transaction marks the first involvement of this address in transactions involving $CAKE tokens, indicating a potential diversification strategy or […]

Will Izuchukwu March 20, 2024

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Base Surpasses 1 Million Active Addresses, Leads Ethereum Layer 2s

March 16th marked a significant milestone for Base as it reached over 1 million active addresses, securing its position as the top Ethereum Layer 2 solution. This achievement underscores the platform's growing prominence within the Ethereum ecosystem. https://twitter.com/intotheblock/status/1770002932286493018?t=nw8_5JPJZegNVCcPGBx5zA&s=19 The recent Ethereum EIP-4844 upgrade played a crucial role in enhancing Layer 2 transactions, resulting in a substantial reduction in transaction costs. Both Arb and Base experienced a remarkable 80-90% reduction in fees, making transactions more affordable and accessible to users. https://twitter.com/0xmurloc/status/1770126451993415847?t=1G-0HkttBkdY-hTtuTUkfA&s=19 About 60% Reduction In Fees Recorded Following the Dencun upgrade, daily transactions on Coinbase Ethereum L2 network Base surged to an impressive 2 million, marking a substantial increase from the previous figure of around 440,000 transactions per day. This surge in transaction volume can be attributed to the significant reduction in fees, which plummeted by 60%. https://twitter.com/CryptoLycus/status/1770095293520036220?t=mbq2yrUtRnpfVZNLLkeBKg&s=19 With its growing […]

Will Izuchukwu March 19, 2024

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Ethereum Faces Volatility Amidst Speculation On ETF Approval

In recent trading sessions, Ethereum ($ETH) experienced a notable price drop of over 10% from its peak of $4,000. However, despite this downturn, a significant majority of Ethereum holders, approximately 89%, remain in a profitable position.  As investors assess the potential for Ethereum's price to rebound towards the $4,000 range, on-chain data highlights a key level of resistance around $3,700. At this price point, nearly 991,000 addresses collectively hold 4.35 million $ETH, indicating a substantial volume of potential selling activity. https://twitter.com/intotheblock/status/1769668513302552704?t=BHzl0ncbnZKZECj1-eFLYg&s=19 Amidst this market volatility, speculation surrounding the approval of a Spot Ethereum ETF continues to capture investor attention. A financial agent at Standard Chartered has expressed optimism regarding the potential approval of such an ETF by May 2024. This approval, if granted, could introduce an estimated $45 billion in inflows into the Ethereum ecosystem. May 23 Decision Date In […]

Will Izuchukwu March 18, 2024

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Cryptocurrency Activity Surges Across Various Metrics; AI Tokens Gain Traction

As the cryptocurrency market experiences heightened volatility at the end of the week, several assets are exhibiting significantly increased network activity compared to their usual levels over the past three months. https://twitter.com/santimentfeed/status/1768785848538128808?t=jQs5YLATvS3CRNS-n0_6Fg&s=19 According to the Asset Activity Matrix on the santiment feed, certain cryptocurrencies are leading in various categories: Active Addresses: Notable assets in this category include $CVC, $KNC, and $LRC, indicating a surge in user engagement and interaction within these networks. Network Growth: $CVC, $KNC, and $LRC are also prominent in network growth, suggesting an expansion of their respective ecosystems and user bases. Whale Transactions: Assets like $CVC, $CVX, and $KNC are witnessing increased activity from large investors or "whales," potentially influencing market dynamics. $100K-$1M Wallet Accumulation: $CVC, $CVX, and $USDT are attracting accumulation by wallets with significant holdings, signaling confidence or strategic positioning by large investors. Social Dominance: […]

Will Izuchukwu March 16, 2024

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Algorand Network Sees Surge in Active Users With Over 175K Active Users Amidst Node Reward Criteria Update

The Algorand network experienced a remarkable surge in active users, reaching over 175,000 individuals on a single day. This surge represents a significant increase compared to the year-to-date average of approximately 40,000 users. Notably, the last time Algorand witnessed such high user activity was back in December 2023. https://twitter.com/intotheblock/status/1768306983931703431?t=5Y13_6TOlEjKY_cNTFewXw&s=19 This uptick in user engagement coincides with a pivotal update in the network's node reward criteria. Algorand has implemented a minimum requirement of 30,000 ALGO for nodes to qualify for earning rewards.  https://twitter.com/TxnLab/status/1768403605860560937?t=NOHpcHALEGRgt4DiIVAAEw&s=19 The rationale behind this criterion is to ensure that only committed and dedicated participants are involved in running nodes. By maintaining a threshold, the network aims to uphold its core principles of speed, sustainability, and reliability. However, while this measure enhances the quality of node operators, it also introduces a barrier to entry, limiting participation to individuals or […]

Will Izuchukwu March 16, 2024

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Arbitrum Gas Fee Reductions Set To Lower Transaction Costs Amid Dencun Upgrade

In an exciting development for the Ethereum ecosystem, gas fee reductions are scheduled to take effect on March 18, offering significant relief to developers utilizing the Arbitrum Layer 2 (L2) solution. This initiative, implemented in conjunction with the Dencun upgrade, promises to slash layer-2 transaction costs by a factor of ten, marking a notable advancement in scalability and affordability. https://twitter.com/arbitrum/status/1768360258161017082?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 The Offchain Labs group recently deployed an update to ArbOS, known as Atlas, as part of the effort to enhance the efficiency of data transfer between Layer 2 and the Ethereum mainnet. One key feature of this upgrade is the introduction of support for binary big objects (blob) transactions, aimed at reducing the cost associated with transferring data. https://twitter.com/arbitrum/status/1768306107318178061?t=kxU8BY8GxAFFfb6LBh3CQQ&s=19 Despite these positive developments, the value of Layer 2 tokens has continued to experience a decline, with a 4.5% decrease observed […]

Will Izuchukwu March 15, 2024

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