Cryptocurrency
Bitcoin Cash Jumps 27% in a Week as Bitcoin Minetrix Also Gains Pace
![](https://letizo.com/wp-content/uploads/2024/04/bitcoin-cash-jumps-27-in-a-week-as-bitcoin-minetrix-alsogains-pace_660d4c36c75a2.jpeg)
Bitcoin Cash has outperformed the market this week, pumping 27% to $616 after touching highs of $646 yesterday.
Meanwhile, the new ICO Bitcoin Minetrix is also gaining pace as its total raise nears the $13 million mark.
Bitcoin Cash Price Surges but Analysts Anticipate Further Gains in the Pipeline
Despite a resoundingly bullish performance this week, traders predict more upside ahead for the leading Bitcoin fork, Bitcoin Cash.
With a price of $616, Bitcoin Cash’s current market cap is $12.1 billion, and its 24-hour trading volume is $1.2 billion.
Its volume experienced a spectacular surge yesterday, up 281% from Monday. This illustrates a wave of interest flooding in ahead of its halving, set to occur in just two days.
The upcoming halving has shone the spotlight on the project, with market commentators analyzing its value and potential.
“Bitcoin Cash is what Bitcoin intended to be, both a medium of exchange and a store of value,” said Shortsqueeze20 in a recent analysis.
The commentator cited a graph displaying Bitcoin’s block size relative to its transaction fees since its inception in 2009.
It shows that Bitcoin transaction fees stayed low as Bitcoin’s block size grew but only increased once the blocks hit the 1MB cap. Shortsqueeze20 argues that Bitcoin Cash’s bigger block size makes it a more suitable medium of exchange and therefore superior to Bitcoin.
Indeed, a similar bullish sentiment can be felt in pricing data, with Bitcoin up 138% this year while Bitcoin Cash is up 398%.
Yet, analysts expect Bitcoin Cash’s bullish trajectory to continue, with L1 or Nothing anticipating a move toward $11K this market cycle. The analyst noted a macro trend line resistance break out and used the Fibonacci Retracement tool to predict how far it could go.
Meanwhile, Mr Kun noted the same macro trendline resistance breakout and speculated, “You will soon see a price of $3000.”
However, Bitcoin Cash is not the only crypto anticipated to outperform the market leader in the coming months. Another hot contender is Bitcoin Minetrix, a trending presale that has raised nearly $13 million.
Revolutionary Stake-to-Mine Protocol Bitcoin Minetrix is Backed to Explode
Experience the next generation of Bitcoin mining with the new Bitcoin Minetrix platform.
“Earn Bitcoin and see massive capital gains by buying and staking $BTCMTX,” Said ClayBro in a recent YouTube video.
Meanwhile, Jacob Bury speculated the project could 100x after its presale.
Adding to the excitement, top media outlets like Bitcoin Magazine, Cointelegraph, Business Insider, BeInCrypto, and many others have already featured the project.
Bitcoin Minetrix’s early success stems from its revolutionary use case, ushering in a novel version of cloud mining built around ease-of-use decentralization, and transparency.
Users simply stake $BTCMTX for mining credits, which they can burn to earn a share of the cloud mining pool rewards.
This simplistic concept makes Bitcoin mining accessible to the masses, something previously unheard of. What’s more, the decentralized and transparent nature of $BTCMTX negates the risk of cloud mining scams, which have historically suppressed the industry’s potential.
In addition to real BTC rewards, stakers will receive supplementary $BTCMTX. They can garner a 55% APY, but this will decrease as the staking pool grows.
Further incentivizing early adopters, the presale price will incrementally increase throughout the campaign, meaning the current price of $0.0144 is on a first-come, first-served basis.
Visit Bitcoin Minetrix Presale
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Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
![](https://letizo.com/wp-content/uploads/2024/09/top-10-solana-sol-ecosystem-projects-by-developmentactivity_66dc47b18afea.jpeg)
TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
![](https://letizo.com/wp-content/uploads/2024/09/these-altcoins-bleed-out-as-bitcoin-btc-price-fell-by-4kin-hours-weekend-watch_66dc47b73b311.jpeg)
Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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