Bitcoin

Crypto’s Long-Tail Disruptive Trends

Published

7 months ago

19 June, 2024

The first half of 2024 began a new cycle of crypto adoption. The long-awaited approval of Bitcoin ETFs was a decisive factor for this new cycle, along with the strong price dynamics that led bitcoin to reach a new all-time high. This not only pushed Bitcoin back to the door of institutional adoption, but also positioned the market for another potential bull market cycle.

These cycles have been marked not only by the introduction of new projects, from Bittensor and ZKSync, to Bonk and Dogwifhat, but also by the strong appreciation in the prices of many digital assets. With a higher beta compared to bitcoin, assets of various sizes and sectors often experience greater volatility, reflecting investor expectations for higher returns.

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Several trends are shaping the altcoin market in 2024, which means a focus on innovation, sustainability, and exploring new use cases is driving growth among altcoins.

Re-staking has emerged as a notable vertical for this new cycle, which involves continually staking rewards earned from staking tokens, increasing returns over time. Projects such as EigenLayer (EIGEN), EtherFi (ETHFI) and Renzo (REZ) have implemented mechanisms that incentivize users to resume their staking rewards, thus increasing their participation in the network and contributing to its security and stability.

Altcoins are increasingly adopting Layer2 scaling solutions such as Optimistic Rollups, zkRollups, and side-chains to improve transaction speeds and reduce fees. Projects in this category include Arbitrum (ARB), Optimism (OP), Polygon (MATIC), Starknet (STRK), among many others. This trend aims to improve the user experience and attract more users to these project platforms.

Interoperability between blockchain networks is also a growing trend. Some projects are collaborating and building bridges to enable asset transfers and communication between different blockchains. This trend aims to create a more interconnected and efficient blockchain ecosystem rather than many different isolated blockchains. Examples of such projects include Axelar (AXL), Across (ACX) and Stargate (STG).

With the emergence of Layer 2 solutions and interoperability, modular blockchains represent the next phase in the evolution of digital assets. With their adaptable and customizable design, they offer a flexible framework where developers can connect modules such as consensus mechanisms, token standards, and governance models. Blockchains like Celestia (TIA) and Dymension (DYM) are using this modularity to increase scalability, interoperability, and security.

The story continues

Parallelized Ethereum Virtual Machines (EVMs) divide the execution of smart contracts into parallel tasks, leveraging the power of multiple nodes simultaneously. The most popular parallelized EVMs such as Sei (SEI), Canto (CANTO), Nomad, and NeonEVM (NEON) are trying to do this by processing transactions off-chain and then aggregating them back into the Ethereum mainnet. This approach dramatically improves transaction throughput and reduces latency, addressing Ethereum’s historical limitations.

Current crypto market prices seem to indicate that a bull market is underway, mega caps may still have room to grow before smaller coins outperform the rest of the market. However, this phase may not be far away, and once it begins, being under-positioned may be difficult and potentially costly, especially as institutional adoption grows and the need to generate alpha increases.

Note: The opinions expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

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Bitcoin Struggles Against $64,515 Support Level, Can It Hold or Will Bears Prevail?

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SatoshiTimes Staff

We are the editorial team of SatoshiTimes, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on SatoshiTimes, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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