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Cardano Surges Over 8% as Crypto Prices Rebound, Bitcoin Minetrix Also Makes Gains

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Cryptocurrency prices are rebounding today after a rough couple of weeks for the digital asset market.

Cardano’s native ADA token is one of the day’s biggest gainers, surging over 8% in the last 24 hours to the $0.528 level.

In terms of under-the-radar tokens, Bitcoin Minetrix (BTCMTX) leads the charge and continues to see gains during its limited-time presale phase.

Bullish Momentum Returns as Cardano Surges Above 50-Day EMA

ADA has closed in the green for four days in a row, marking the token’s best run of form since early December.

The four bullish closes have taken ADA to its highest value since January 16 – just before the price fell by 16%.

ADA’s stellar run has also seen it breach the 50-day exponential moving average (EMA), suggesting that the medium-term trend has flipped definitively.

Now, Cardano bulls will be looking toward the $0.55 level as an upside target.

If that level can be broken, the next crucial resistance zone is located around $0.60, where ADA spiked to on January 11.

Fuelling ADA’s climb over the past 24 hours is a remarkable 74% jump in spot trading volumes, now at over $530 million.

This makes ADA the 13th most-traded cryptocurrency globally.

With the momentum showing no signs of slowing down, this week is shaping up to be a positive one for Cardano holders.

Major Investors Accumulate ADA as Sentiment Shifts

Dan Gambardello, the founder of CryptoCapitalVenture, made an intriguing point on Twitter regarding Cardano’s prospects.

Gambardello believes after years of thoughtful development, Cardano now has a robust system in place – one that boasts security, stability, decentralization, and interoperability.

This strong base is enabling an expansion into DeFi and allowing Cardano to support a variety of use cases.

As Gambardello notes, if Cardano can scale effectively, it may outplace other blockchains because of its solid infrastructure.

In addition, some ADA whales seem to agree with this promising outlook.

According to an article from FXStreet, major holder wallets containing between 100,000 and 100 million ADA tokens have increased significantly over the past eight months.

This indicates strong and sustained accumulation by long-term, influential investors.

Between the technical advantages, real-world utility, and vote of confidence from crypto whales, Cardano is waking up from a period of stagnation.

Due to this, there’s a growing belief amongst ADA bulls that 2024 could be a positive year for the token.

Bitcoin Minetrix Ignites Huge Presale Hype with Innovative Stake-to-Mine Model

As momentum builds behind Cardano’s recent price surge, another crypto project is gaining steam.

Bitcoin Minetrix (BTCMTX) has raised over $9.8 million in its ongoing presale, indicating strong investor interest in its groundbreaking use case.

The project aims to transform cloud crypto mining by introducing a “Stake-to-Mine” mechanism powered by smart contracts.

This allows users to stake BTCMTX tokens to receive cloud mining credits, which can be burned for hash power.

By eliminating the need for expensive hardware or technical skills, Bitcoin Minetrix seeks to make mining accessible to anyone.

The total supply of BTCMTX is capped at 4 billion, with up to 77.5% of these tokens made available to early buyers.

BTCMTX holders can also stake their tokens to generate estimated rewards of 68% per year, creating two pathways to potential passive income.

Security is also a priority for Bitcoin Minetrix’s team, given that Coinsult has audited the project’s smart contracts.

All of these factors have helped lift Bitcoin Minetrix into the limelight, with the project now drawing enormous attention from retail traders.

Over 19,700 people now follow Bitcoin Minetrix on Twitter, while 13,100 actively participate in the project’s Telegram channel.

With momentum returning to the crypto market in the final week of January, Bitcoin Minetrix could be primed to capitalize.

Visit Bitcoin Minetrix Presale

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.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Cryptocurrency

Shiba Inu (SHIB) Outperforms Bitcoin and Dogecoin on This Front: Details

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TL;DR

  • SHIB tops some trading charts for April, surpassing BTC, DOGE, and ETH, showcasing its consistent popularity among traders.
  • Analysts like Ali Martinez and Rekt Capital anticipate a potential Shiba Inu bull run, with buy orders placed and bullish predictions suggesting triple-digit price increases.

SHIB’s Solid Achievement

Shiba Inu continues to make the headlines by registering substantial price spikes and achieving numerous advancements. 

For example, it topped WazirX’s ranking as the most-traded cryptocurrency for April, leaving Bitcoin (BTC), Dogecoin (DOGE), Pepe (PEPE), and Ethereum (ETH) behind.

This is not the first time the meme coin has topped that ranking. It was the most-traded digital currency on WazirX’s platform in March, surpassing BTC, PEPE, FLOKI, and DOGE. Recall that SHIB was the second-most traded cryptocurrency on the trading venue for 2023.

It is worth mentioning that WazirX is among the leading Indian cryptocurrency exchanges, with over 6 million registered users and monthly trading volume equaling billions of dollars. It is part of the Binance group and serves clients in more than 180 countries.

Recent SHIB Price Predictions

The meme coin’s price has been flashing green for the past few days, with some analysts suggesting that a more substantial rally could be on the horizon. One example is the X user Ali Martinez, who admitted placing buy orders, hoping for a 300% surge.

Rekt Capital and crypto content creator Jake Gagain also outlined bullish predictions recently. The former envisioned a triple-digit price increase, whereas the latter argued that “fading” Shiba Inu “is a major mistake.” 

The resurgence of Shiba Inu‘s burn rate and the development of the layer-2 blockchain solution – Shibarium – are two major factors that could positively impact the asset’s value. As CryptoPotato reported, over 81 million tokens were destroyed in the last 24 hours, while the network underwent two essential upgrades.

 

 

 

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BTCC Exchange Launches World Trading Competition with Record-breaking 10M USDT in Prize Pools

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[PRESS RELEASE – Vilnius, Lithuania, May 6th, 2024]

BTCC Exchange, the world’s longest-serving cryptocurrency platform, announces the BTCC World Trading Competition (BWTC) 2024 kickoff, featuring an unprecedented prize pool of 10 million USDT. This global competition, organized into three main categories, invites participants worldwide, underlining BTCC’s commitment to inclusivity and diversity in cryptocurrency trading.

The competition’s categories—individual trading, copy trading, and referral competition—are designed to accommodate traders of all skill levels and preferences. The individual trading competition, already open for registration, features a significant shared prize pool of 1.4 million USDT, offering participants the chance to earn up to 26,700 USDT monthly.

As in the copy trading competition segment, participants are divided into two groups: lead traders and copy traders. Lead traders compete for a 50,000 USDT prize pool based on their lead trading performance, while copy traders vie for 30,000 USDT, with rankings determined by their copy trading volume.

In addition to the typical trading formats above, BTCC stands out by including a referral competition. This encourages existing users to introduce new traders to the platform, with a prize pool of 65,000 USDT awarded monthly based on the referred traders’ volume and the number of new users brought in.

Alex, Head of Operations at BTCC, shared his excitement about the launch: “Our competitions reflect our dedication to inclusivity. We offer diverse contests ranging from solo trading to copy trading, and reward those who expand our community through referrals.”

The BWTC 2024 will introduce more categories of trading competitions, providing users with exciting opportunities to win from the extensive prize pools.

This year, BTCC continues to demonstrate its dedication to making crypto trading more accessible through various rewarding campaigns. Their recent Bitcoin halving campaign celebrated the platform’s observation of its fourth Bitcoin halving since its inception, distributing significant rewards to participants.

Now entering its 13th year, BTCC remains focused on expanding its campaign offerings to attract both novice and seasoned traders, maintaining its prominence in the crypto exchange industry.

About BTCC

Established in 2011, BTCC is one of the world’s most established cryptocurrency exchanges. Its mission is to make cryptocurrency trading accessible and reliable for everyone, continually adapting and innovating to meet traders’ needs across the globe.

Website: https://www.btcc.com 

Twitter: https://twitter.com/BTCCexchange

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DOGE Skyrockets After Tesla Adds Dogecoin аs Payment Method

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Tesla, the renowned electric car manufacturer led by Elon Musk, has officially integrated Dogecoin (DOGE) as a payment option on its website.

This month, DOGE has surged over 35%, with the Tesla announcement significantly fueling its rise.

Tesla Integrates DOGE Payments

Tesla has officially embraced Dogecoin, with the payment page updated to feature the OG meme coin. The addition specifies that DOGE can only be used to pay for select products, including merchandise within the online Tesla Shop.

The first response in the FAQs section instructs users to search for the Dogecoin symbol next to the “order” button for eligible products. According to the support page, individuals interested in making a purchase on the Tesla shop using Dogecoin must first own a “Dogecoin wallet.”

A disclaimer also states, “It is the responsibility of the purchaser to ensure that Dogecoin is transferred to Tesla’s Dogecoin wallet accurately.”

Following the announcement, Dogecoin surged by 21% to $0.1685, presently trading at $0.1672, marking a 4% increase in the last 24 hours, indicative of the market’s favorable response to Tesla’s adoption of the cryptocurrency for payments.

Meanwhile, analysts suggest that DOGE is on a bullish path. Various indicators related to the Dogecoin ecosystem have seen notable increases. Over the past three months, the number of non-empty DOGE wallets has surged by 13.8%.

The aggregate daily volume for transactions exceeding $100,000 has nearly reached $1.5 billion, marking a 12% rise compared to figures observed on May 1.

Daily active addresses have experienced a 20% increase, surpassing 66,000. As of May 4, Dogecoin stood out as one of the top performers with a 6% increase doubling down on its bull run.

Tesla’s History with DOGE

This isn’t the first time Elon Musk’s companies have dabbled in cryptocurrency payments. Elon Musk had previously stated that Tesla would start accepting Dogecoin as payment for some of its merchandise.

In January 2022, Tesla began accepting Dogecoin as an experiment, offering various company merchandise for DOGE, such as the Tesla Cyberwhistle and the “Giga Texas” belt buckle. Following suit, SpaceX, another Musk-led company, also embraced Dogecoin payments.

Fast forward to March 2024, during Musk’s visit to the Giga factory in Berlin, where he hinted at implementing Dogecoin payments for Tesla’s electric cars. Musk’s statement caused a 10% price surge in DOGE immediately after.

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