The Bitcoin price is fighting its way back above $62,500 and is likely to close the current trading week strongly. Because profit-taking remains restrained. On a weekly basis, Bitcoin pumped by around 20 percent and is already approaching its high at the start of the new week. The momentum should continue to work in favor of Bitcoin. Investors are also likely to closely monitor trading in ETFs that will resume tomorrow.
But other crypto news has also recently moved the markets, so informed investors could take a look at the crypto news review.
Bitcoin Rally & FOMO
Today, the Bitcoin price ends the trading week at a high level by holding steady above the $62,000 mark. Looking to the medium-term future and especially to March, shortly before the Bitcoin halving, expectations of a possible all-time high are increasing. Because tomorrow the Bitcoin spot ETFs will most likely generate significant net inflow again. Above all, the decreasing availability of Bitcoins in over-the-counter (OTC) trading, where asset managers prefer to buy for spot ETFs, underlines this trend. Because the asset managers will now have to buy their BTC on the spot market. This sets up the next bullish week for Bitcoin – possibly with an attack on the ATH.
Next meme coin season starts
Meme coins have recently experienced increasing popularity. Here it was Dogecoin, Shiba Inu and, last but not least, Pepe Coin in particular that recorded enormous price gains, while new players like dogwifhat and Floki are also causing a stir in the top 100 of the crypto market. Without a doubt, the next meme coin season is back.
These coins, often without direct utility, attract speculative investments and reflect many crypto enthusiasts’ dream of getting rich quickly. Despite the superficiality of these phenomena, the increasing acceptance of meme coins is becoming clear – sustainable opportunities will once again arise in March 2024 to benefit from the viral dynamics and growing public interest.
While the highly capitalized meme coins have done well recently, it could now be worth taking a look at Meme Kombat.
Projects like Meme Kombat, which offers speculative investors attractive conditions for entry at a fixed price before its stock market debut, represent the potential of smaller, up-and-coming coins. Meme Kombat creates a gaming ecosystem that not only promises entertainment, but also offers the chance for significant increases in value. Staking rewards, viral potential, meme battles and much more characterize Meme Kombat. With public trading starting in just two days, early adopters need to hurry.
Uniswap launches new DeFi hype
The leading decentralized exchange Uniswap also recently shocked the market in a positive way. The DEX is planning a revolutionary innovation by allowing its users to directly share in the income from network transaction fees. This venture could redefine the rules of the game for investments in the DeFi space and puts pressure on competitors to develop similar innovations. Because UNI becomes a kind of dividend token. However, the upcoming implementation also carries the potential for regulatory disputes, particularly with the SEC. Previously, the possible uses for UNI tokens were limited, but the planned upgrade is intended to increase the value of the token through additional earning opportunities.
The strategic realignment aims to reward token holders for their active participation in the protocol and decentralize the governance structure. UNI should therefore be worth a closer look and could at the same time generate widespread DeFi hype.
The launch of Uniswap v4, scheduled for the third quarter of 2024, confirms Uniswap’s role as a pioneer in the DeFi sector-
The initiative, which provides for direct financial participation from the community in the protocol successes, could fundamentally change the appeal of DeFi tokens and lead to wider adoption. Maybe we are now experiencing the next DeFi summer?
AI cryptos show strength: Scotty the AI explodes to $1.5 million
In 2024, AI-based cryptocurrencies will continue their massive rise, fueled by the fascination with technological breakthroughs in artificial intelligence. Real-world companies like Nvidia and OpenAI are also contributing.
This development is reflected in the growing demand that is bringing cryptocurrencies with concrete application benefits into focus. AI cryptos are likely to continue to hype in the current market phase – for example, Fetch.ai (FET) rose by around 62 percent in just one week. But with a market capitalization of around $1.5 billion, there still seems to be a massive upside.
New AI cryptos are also sometimes worth a look here. An example of this dynamic is the Presale of Scotty the AI, who wants to improve security in the blockchain space. By using highly developed algorithms, Scotty the AI aims to detect and prevent fraud attempts at an early stage, which should make trading cryptocurrencies safer. With enticing staking returns of currently around 90 percent APY, the project attracts investors who want to participate in the financial benefits. The meme branding seems designed for viral hype.
To the Scotty the AI Presale
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