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As Starknet Lists on Binance, Could Meme Kombat Follow After Hitting $10m Presale Target?

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Yesterday, Starknet (STRK), the layer-2 scaling solution for Ethereum, was listed on Binance and immediately hit a $2.4 billion market cap.

As one of the most talked-about Ethereum scaling solutions, Starknet’s listing signals the growing adoption of layer-2 technologies.

With meme coins also driving interest in the market, could Meme Kombat (MK) be next to attain a Binance listing after hitting its $10m presale target?

Starknet Trading Volumes Explode Past $1.6bn After Binance Debut

Starknet’s listing on Binance featured multiple spot trading pairs, including against USDT, BTC, FDUSD, and TRY.

Deposits opened at 12:00 UTC, with withdrawals and trading beginning at 13:00 UTC.

Almost immediately, trading volumes for STRK rocketed and have hit $1.6 billion since the token went live.

Starknet’s developers used various methods for token distribution, including airdrops and eligibility programs.

The Starknet Foundation distributed over 700 million STRK tokens out of 900 million set aside, with recipients including those who helped secure Ethereum and contribute to Starknet’s open-source ecosystem.

Additional community rebates and initiatives are planned going forward.

However, due to regulation, distributions of STRK were not available to those based in the US.

With solid tokenomics and strong community backing, Starknet seems poised for further growth.

STRK’s price has dipped 47% since yesterday’s peak, yet given that the token is still less than 24 hours old, volatility is to be expected as the market finds its footing.

The Features Behind Starknet’s Goal of Becoming the Go-To Ethereum Scaling Solution

Starknet operates as a validity rollup, processing Ethereum transactions off-chain before submitting cryptographic proofs to the mainnet.

This reduces congestion on Ethereum, enabling faster and cheaper transactions.

Starknet uses “STARK proofs” to aid with this setup, which provide solid long-term security compared to other protocols.

Additionally, Starknet introduces Cairo, a purpose-built programming language for writing STARK-proving computations more easily.

Unlike some layer-2 scaling solutions, Starknet remains fully permissionless and decentralized.

This gives developers flexibility similar to building directly on the Ethereum mainnet while still benefiting from Starknet’s massive scaling capabilities.

With an ability to handle 500 transactions per second (TPS) currently and the goal of reaching millions per second, Starknet aims to provide the scale needed to support mainstream use of dApps and digital services.

If Starknet can leverage the ongoing hype around its Binance launch, there’s a belief among some crypto community members that it could be the go-to scaling solution for Ethereum.

Meme Kombat Hits $10m Funding Target, But Will MK List on Binance Next?

With Starknet listed on Binance, attention now turns to other emerging projects that could follow a similar trajectory.

One potential candidate is Meme Kombat, which has taken the crypto world by storm with its unique combination of memes, staking, and gambling.

Having reached its $10 million presale funding goal, the native MK token seems primed for a major exchange listing soon.

Unlike many meme coins, Meme Kombat distinguishes itself through innovative features like AI-powered battles between popular meme characters and generous staking rewards up to 99% APY.

This combination of game elements and passive income is designed to create a thriving community and deliver long-term success.

Additionally, Meme Kombat has already attained endorsements from leading crypto YouTubers and analysts, suggesting strong faith in its potential.

For example, YouTuber Michael Wrubel told his 310,000 subscribers that it could be the “next 100x gaming meme crypto.”

With Meme Kombat’s presale funding target achieved, interested investors have one final chance to buy MK tokens for $0.279 before the exchange listings occur.

There’s now a countdown timer on the official Meme Kombat website, showing the number of days remaining before MK trading goes live.

No specific exchanges have yet been announced for the initial listing.

However, early investors in the Meme Kombat Telegram channel have begun to speculate that Binance, or another Tier-1 platform, could be lined up to support the first official MK trading pair.

With just 13 days to go before MK goes live, all eyes are on this trending token to see how it performs on the open market.

Visit Meme Kombat Presale

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Over $500M Ethereum (ETH) Left CEXs as Market Prepares for Impulsive Move: Data

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Data from IntoTheBlock revealed that investors withdrew approximately half a billion ETH from centralized exchanges last week, the highest the asset has seen since February.

$500M ETH Leaves CEXs

The withdrawal of large amounts of ETH from centralized exchanges signals investor confidence in the long-term price trajectory of the asset. Market participants usually withdraw their cryptocurrencies from centralized trading platforms to hold the assets in their private wallets or cold storage in anticipation of higher prices.

Such large withdrawals have been considered an indicator of bullish sentiment and holding attitude among investors. Most of the time, ETH has recorded substantial gains in the weeks following large withdrawals from exchanges.

Anticipation for higher ETH prices could be attributed to the approval of spot Ethereum exchange-traded funds (ETFs) in Hong Kong and the just-completed Bitcoin halving event, which has historically triggered bull rallies across the market.

With huge amounts of ETH leaving exchanges, supply could decline on such trading platforms and high demand from large entities like the spot ETF issuers could propel the digital asset’s price upwards, per the laws of economics.

Futures Market Poised for Impulsive Move

While investors reduce their ETH holdings on centralized exchanges, the Ethereum Futures market shows that it is on the brink of a resurgence of long or short positions. A CryptoQuant Quicktake by pseudonymous analyst Shayan disclosed that the Ethereum market may be on the verge of a fresh and impulsive move either northwards or southwards.

Shayan explained that futures market sentiment significantly impacts price movements because the intensity of long and short positions, as well as the possibility of large liquidations, acts as a catalyst for volatility. This sentiment can be determined by the state of open interest, which indicates the number of open perpetual futures contracts across several cryptocurrency exchanges.

Notably, open interest in Ethereum declined during ether’s recent plunge to $2,900 amid escalated tensions in the Middle East. The fall suggested a pipedown of activities in the futures market.

“Consequently, the market appears poised for the resurgence of either long or short positions, potentially initiating a fresh and decisive market movement in either direction,” Shayan said.

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ChatGPT Gives Post-Halving Bitcoin Price Outlook, What About 99Bitcoins Token?

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The Bitcoin halving event has come and gone, leaving investors wondering what’s next for the world’s largest cryptocurrency.

However, in an exciting twist, the AI model ChatGPT has weighed in with its analysis – and provided a post-halving price prediction for BTC.

Bitcoin Shows Signs of Life After Halving Event

Bitcoin is showing signs of life after a bearish period last week.

The coin is now trading at $65,860, up over 4% since the halving and 10% from Friday’s lows.

This price point marks Bitcoin’s highest value in over a week as it tests dynamic resistance at the 20-day exponential moving average (EMA) on the daily chart.

Some technical analysts are also eyeing the potential formation of a huge bull flag pattern that could lead to further upside.

Bitcoin’s upswing has been accompanied by a surge in trading activity, with spot volumes up around 14% over the past 24 hours.

The increase in activity has also resulted in over $51 million worth of short positions being liquidated.

All in all, with Bitcoin’s price action heating up following the halving, traders and investors are watching to see if this could be the start of the next bull run.

ChatGPT Paints Bullish Picture on Bitcoin’s Future

According to ChatGPT’s analysis, Bitcoin’s post-halving price prospects look decidedly bullish.

ChatGPT believes several key factors could come together to fuel significant upside for the flagship crypto in the weeks ahead.

Chief among them is the potential for even more institutional adoption as big-money players continue to embrace Bitcoin as a legitimate asset class.

The AI model also cited Bitcoin’s growing status as a hedge against economic uncertainty in traditional markets.

With heightened geopolitical tensions and inflation concerns, everyday investors may flock to decentralized assets like BTC throughout 2024.

Finally, ChatGPT pointed to the role that ongoing technological advancements within Bitcoin’s ecosystem could play.

Improvements to scalability, and even new ideas like Runes, could enhance the network’s utility going forward.

Considering this potential convergence of positive forces, ChatGPT sees Bitcoin hitting the $100,000 mark in the near to medium-term.

While just a hypothetical forecast, this bullish target does align with Bitcoin’s historical pattern of setting new all-time highs after previous halvings.

Which Other Coins Does ChatGPT Think Could Surge?

While ChatGPT appears optimistic about Bitcoin’s upside potential, the AI model also offered insights on under-the-radar cryptos that could surge.

One project that seems to have caught ChatGPT’s attention is 99Bitcoins Token (99BTC) – which has raised over $650,000 since its presale kicked off.

ChatGPT Believes “Learn-to-Earn” Premise Could Lead to Gains for 99BTC

99Bitcoins Token represents 99Bitcoins’ ambitious move to integrate crypto learning with blockchain-based rewards.

Through interactive modules, quizzes, and tutorials, users can earn 99BTC tokens simply by engaging with educational content.

According to 99Bitcoins Token’s whitepaper, it will also enable access to premium courses, expert trading signals, community channels, and more – creating an entire ecosystem focused on crypto education.

But what does ChatGPT think about 99Bitcoins Token’s prospects once it lists on exchanges?

According to ChatGPT’s analysis, 99BTC could be poised for significant price appreciation given its groundbreaking “Learn-to-Earn” premise and well-designed tokenomics.

ChatGPT highlighted the token’s unique value proposition of rewarding users for learning as a major bullish catalyst.

This novel concept could attract a “broad user base” eager to enhance their crypto knowledge.

The AI model was also optimistic about 99BTC’s integration with Bitcoin’s new BRC-20 token standard.

This standard unlocks new utility through NFTs and other digital assets built on the Bitcoin blockchain – and ChatGPT believes 99Bitcoins Token’s adoption of BRC-20 could further boost its price potential.

Considering these factors and the sustainable tokenomics setup, ChatGPT offered up some lofty price targets.

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Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Bitcoin Layer 2 Tokens Outperform BTC Post-Halving

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Bitcoin layer 2 solution tokens have demonstrated superior performance to BTC following the highly anticipated halving of the mining reward on the blockchain.

Since the event, these tokens have surged by 5% to 20%, outpacing the top crypto by market cap.

Stacks (STX) Takes Center Stage

According to CoinGecko data, the market cap for Bitcoin layer 2 solutions is $4.3 billion, marking a 5.6% increase in the past 24 hours. Meanwhile, the trading volume is $184 million.

Stacks (STX), a Bitcoin layer 2 solution, has been among the top-performing cryptocurrencies in the past 24 hours, according to CoinGecko data. The STX token has surged almost 20% to $2.87 since the halving event.

Bitcoin, on the other hand, has not experienced significant growth. The token is up slightly over 4.5% to $66,046 since the halving event, 1.7% over the last 24 hours, and down 0.8% over the last 7 days.

Bitcoin’s price saw significant volatility last week, dropping from over $66,800 to below $60,000. However, it has since recovered.

Other layer 2 tokens, such as Elastos’ ELA token and SatoshiVM’s SAVM, have also experienced gains of 11% and 5%, respectively, since the halving.

Other altcoins have observed slight daily gains, except for TON, which has experienced a significant double-digit decline despite Tether’s announcement of expanding to the TON blockchain.

Notably, Bitcoin layer 2 solutions address blockchain scalability and transaction speed limitations. These projects operate on the Bitcoin blockchain, offering scalability by processing transactions off the main chain.

Bitcoin Fees Surge

On April 20, when the halving occurred and the Runes protocol launched, Bitcoin transaction fees reached an average of $128.45, according to ycharts data. This figure is over six times higher than the average fee rate the day prior and approximately double the previous record set three years ago.

The fee surge can be attributed to the launch of the Runes protocol, which enables users to “etch” and mint tokens on the Bitcoin blockchain. The introduction of Runes prompted speculators to rush into minting tokens and trading meme coins, leading to increased transaction activity and, subsequently, higher transaction costs.

Notably, the fees have since come down, and the transaction fees dropped to $34.8 on April 21. Meanwhile, according to data from Ord.io, the total number of Runes inscriptions on the Bitcoin blockchain has already reached 3,700.

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