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The possibility of hosting Bitcoin NFTs on Stacks pushed STX price to new yearly highs, but there are concerns on whether the bullish thesis becomes reality. Stacks is one of the first blockchains to enable a way for minting Bitcoin (BTC) Ordinals, which puts it in an excellent position to benefit from the hype. However, Ordinals have invoked an issue from the past where Bitcoin maximalist ideologies will be tested if the NFTs lead to network congestion. On top of that, Stacks has yet to deliver all the functionalities required to support an NFT trading ecosystem and it faces competition from projects in other blockchain ecosystems. The fundamental and technical analysis of the project suggests that the price surge might have reached overbought conditions and may correct in the near term. Ordinals development is unpredictable for now The recent focus on inscribing NFTs on the Bitcoin network peaked in the last month after Casey Rodarmor inscribed an Ordinal on Jan. 29. While the trend...

A well-known trader says that one of the hottest altcoins on the crypto market may have more room to grow. Cantering Clark, a fake trader, says that Stacks (STX), a project meant to make Bitcoin (BTC) more useful, could be due for a short squeeze because there is so much open interest in the coin. The trader tells his 161,000 Twitter followers that STX, which is already up 217% in the last 30 days, is probably due for a squeeze to the upside, but notes that high open interest hasn’t always meant legs up. “STX funding is -.21 on Bybit right now. First line of thinking might be that since OI [open interest] is up aggressively with this it is due for a squeeze. Same logic with APT (Aptos) occurred but the ridiculous funding marked the high. Sellers ate all buying, no squeeze came. Worst case scenario whoever is selling loses their average price. So breaking $1 would be pretty bad.” At the time of writing, STX is trading at $0.92, which is a ...

ChatGPT and other similar chatbot platforms have been revolutionizing the technology space. Thanks to the launch of OpenAI’s bot in Q4 last year, artificial intelligence [AI] continues to be one of the most discussed and searched topics on the Internet. Source: Google Trends Also Read: China To Block ChatGPT Integration: Claims AI Spreads Propaganda Tencent sets up dev team to work on ChatGPT variant Tapping on the trend, several companies from the technology space have been stepping up, with Tencent being the latest organization. Citing two unnamed sources, a recent Reuters report brought to light that the Shenzhen-based Chinese multinational technology and entertainment conglomerate has “set up a development team to work on a ChatGPT -like chatbot.” Reuters’ sources were reportedly unauthorized to speak to the media and thus refused to be identified. However, they revealed, The product, to be called “HunyuanAide”, will inco...

Cointelegraph analyst and writer Marcel Pechman explains how the U.S. Dollar Index (DXY) impacts cryptocurrencies. The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity. In the show’s inaugural episode airing today, Pechman discusses the impact of the U.S. Dollar Index (DXY) on crypto currencies and how the inflation-protected bonds exchange-traded fund (ETF) provides a much better estimate of traditional markets’ demand for fixed income. Viewers will learn how a strong United States Dollar is not necessarily positive for the U.S., what is an inverse correlation, and why analysts believe a more robust DXY is inherently bearish for crypto currencies.  The analyst invites viewers to experiment with the Treasury Inflation-Protected Securities (TIPS) ET...

Alchemy Pay has partnered with Conflux Network , a permissionless Layer 1 blockchain that links decentralized economies across countries and protocols, to provide a simple fiat on-ramp to its ecosystem. By allowing users to buy cryptocurrency using their local fiat currencies, the on-ramp payment solution raises the Conflux ecosystem’s level of mainstream acceptance for both novices and seasoned users. Alchemy Pay will assist Conflux in growing worldwide and broadening its global reach through this partnership. The payment gateway for Alchemy Pay accepts payments made with Visa and MasterCard in 173 different countries, as well as numerous local transfers and well-liked mobile wallets in developing markets. The ramp supported by 300+ fiat payment channels lets buying and selling crypto with domestic local currencies as simple as any other ordinary online payment, with high conversion rates, cheap fees, and quick, simple KYC. About Conflux Conflux is a permissionless Layer 1 block...

Leading cryptocurrency trading platform Gate.io announced Bone token listing with a USDT pairing on Friday. Bone will be listed on Gate.io on Feb. 24, 2023, and it will be open for trading at 4:00 AM UTC. The exchange has over 10 million registered users, which is a step forward for the token’s adoption. The token climbed to a high of $2.05 after the listing announcement. Also Read: Shiba Inu: Investment of $3,400 Turns Into $1.55 Billion in 14 Months 🎉 https://t.co/8kWqgEeplL New Listing: $BONE @Shibtoken 🍖 Trading Pair: $BONE / $USDT 🍖 Trading Starts: 04:00 AM, Feb 24 (UTC) 👉 Trade: https://t.co/EZuHoyt6Se Details: https://t.co/gwCjlxKH9z #Gateio #Newlisting #BONE pic.twitter.com/h7rI8J3xxY — Gate.io (@gate_io) February 24, 2023 Also Read: Exclusive: ‘I’ll Cry When Shiba Inu Reaches $0.01′ Shiba Inu’s Bone Token: How High Can It Go? Source – Unsplash Bone is steadily doubling in price s...

Shiba Inu (SHIB) has made gains of up to 2.3% in the last 24 hours. Investors and fans alike are keeping their eyes on SHIB’s price as the project’s layer-2 network, Shibarium, is nearing launch. The popular canine-themed cryptocurrency is currently facing resistance at around $0.00001384, with support at about $0.00001258. Moreover, the token has formed a symmetrical triangle on the 4-hour chart. This could signal a breakout for the asset and test its resistance at the $0.00001517 level. If SHIB can end a candle above $0.00001355, we may see a breakout rally soon. Source: SHIB/USDT Chart By Trading View Furthermore, SHIB whales continue to buy the token, which may also contribute to an increased price. The 6th biggest Shiba Inu (SHIB) holder recently purchased $1.21 million worth of tokens. Source: Etherscan.io The purchase was made after Binance announced a partnership with Ingenico to offer cryptocurrency payments in France. SHIB is also one of the permitted t...

Over the last couple of days, Shiba Inu’s Bone was making quite some news. The hype around Shibarium came as a big boost to Bone . The asset not only surged in terms of price, but its market value also increased. This further led to the community looking at the other token in the SHIB ecosystem, Leash. Despite the numerous updates from the Shiba Inu network, Leash witnessed minimal price movements. At press time, the asset was trading for $656.18 with a 2.67% daily drop. This dip came after the asset rose to a high of $689.58. Additionally, the market cap of Leash was $70,566,863, and it was ranked no. 2704 on CoinMarketCap. Despite being priced the highest among the other assets in the Shiba Inu ecosystem, the market cap of SHIB and Bone were higher than Leash. Just yesterday, Bone entered the coveted top 100 yesterday. This was after Shytoshi Kusama, the lead developer of Shiba Inu, shared a post about Shibarium. Source As seen in the above image, Bone ’s ma...

The Friendsies NFT collection responded to accusations it was behind a $5 million rug pull after announcing a “pause” of the project. Nonfungible token (NFT) collection Friendsies has refuted claims it is “ abandoning ” its NFT project following a tsunami of “rug pull” accusations aimed at its founders. On Feb. 21, the founders behind the NFT project told its Twitter followers that it was putting a “pause” on Friendsies and “all future digital goods” for the time being, citing market challenges. Around 40 minutes later, the Twitter account was deleted, while the account of Friendswithyou, who developed the project, was made private — sparking rumors that the founders had “rugged” for about $5 million. With the $5.3m @friendsies_ai hard rug earlier today it remains unclear how the funds could’ve possibly been spent. There have been no announcements since September, no community treasury, and no P2E game. The team blames “market volatility” as their rationale. pic.twitter.com/FM8ytum4U...

Join Our Telegram channel to stay up to date on breaking news coverage Gate token (GT) price started a rally southward in early November as bears took charge of the market. The bearish takeover sent the price down around 40.18% to the $3.0 level. However, on New Year’s Eve, bulls found a U-turn and used it to change the fate of GT investors. Every trading session since then has been defined by bulls putting in the work to regain all the ground lost in the last two months of 2022. The 2023 bull run was briefly interrupted when bears attempted a resurgence on February 3. After a week of bearish sentiment, bulls finally took over on February 10, sending the price up 23%. This price action has led to the appearance of a Cup and Handle chart pattern on the Daily chart (see below), indicating a bullish outlook aiming for higher levels. However, the price has escaped this technical formation with a projected return to the $6.91 level last tested around April. At the time of writ...

Even though the economy as a whole is struggling and regulators are cracking down on crypto, Bitcoin has reached a new high for 2023. The price of Bitcoin (BTC) is now $25,000, which is a new high for 2023. The price of Bitcoin has been going up for most of January, so this is a big deal. According to data from CoinGecko, the last time Bitcoin’s price was around $25,000 was around the middle of June 2022. It was on its way down to between $19,000 and $21,000, where it stayed for a few months. The price of BTC has increased double digits over the last 24 hours to reach the $25,000 milestone. The FTX crisis, which happened in November, caused the price of BTC to drop a lot, and on November 10, 2022, it hit a low of $15,742. The price started to go up quickly in early January, when the price of BTC went up for 14 days in a row, from Jan. 4 to Jan. 17. This daily green candle streak was the second longest in the 14-year history of the cryptocurrency. T...

As a result of FTX’s downfall, Binance CEO Changpeng Zhao (CZ) advised consumers to invest in cryptocurrencies if they had “cash that you don’t need for a long time.” Due to severe market volatility and unpredictability, Binance CEO Changpeng “CZ” Zhao has strongly warned cash-strapped and novice investors to refrain from trading cryptocurrencies. On a Nov. 14 “Ask Me Anything” Twitter space held by Binance and moderated by Zhao, the CEO recommended that novice investors wait out the volatile moment rather than jeopardising necessary living costs funds. “You should not invest in crypto if you’re using money that you need for next week or next month, you should only be using discretionary cash that you don’t need for a long time, like maybe a couple of years.” Zhao encouraged novice investors and traders to pause before allocating money to the market in the near future, even if they had the necessary f...

A 24-hour transition will take place on March 27, when the Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. Communications protocol Helium Network has set March 27 as the date for its migration to the Solana blockchain and deployment of oracles as it seeks to improve scalability and reliability. According to a Feb. 17 blog post, the transition will take place over 24 hours on March 27, during which time the current Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. A working group of community volunteers is being formed to oversee the migration process. Helium’s team stated: "This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET."  ATTENTION! The Helium Network is officially migrating to @solana on March 27th! Are you ready? Ensure that you...

The Nigerian crypto payment gateway Fluidcoins was recently bought for an undisclosed sum by Blockfinex, in a deal which the former’s CEO Lanre Adenowo described as an “acquihire deal.” Blockfinex reportedly said it will leverage the acquisition to launch its own platform known as Blockpay. Scaling Blockfinex’s Crypto Payment Processing Business The Nigerian crypto payment gateway, Fluidcoins, was recently acquired for an undisclosed sum by the Seychelles-registered crypto exchange company Blockfinex. According to a Techcabal report, Blockfinex’s acquisition of a 100% stake in the Nigerian firm came some 18 months after Fluidcoins’ last capital raise of $150,000. Commenting on the acquisition that was facilitated by Dan Holdings Limited, Blockfinex founder and CEO Danny Oyekan reportedly said: This acquisition was driven by a decision to venture into wallet as a service business and crypto payment processing and scale it across the world. Blockfinex reported...

The cryptocurrency market cap has been rising since the beginning of this year. Thanks to its 38.51% rise, its reading reflected a value of $1.04 trillion at press time. As shown below, one of the longest green candles was registered earlier this week. Crypto Total Market Cap by TradingView Also Read: UK’s FCA to ‘Disrupt’ Illegal Cryptocurrency ATMs Bitcoin, Ethereum, and other top cryptocurrency assets clinched local peaks a day back. The market’s largest asset was trading at a six-month high yesterday. A slight correction did materialize recently. Nevertheless, the assets are still hovering around their August high levels. Parallelly, they’ve also been trading above all crucial exponential moving averages on the daily timeframe, bringing to light another sign of strength. At press time, Bitcoin was trading at $23.64k. Ethereum, on the other hand, Ethereum was priced at $1.65k. BTC/USDT, ETH/USDT by TradingView Also Read: Will Bitcoin Cross $30,000 by March 2...