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Cryptocurrency Poised for Mega Boom in Trillion-Dollar Market by 2024

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Cryptocurrency Poised for Mega Boom in Trillion-Dollar Market by 2024

The year 2024 could very well be remembered as the year of cryptocurrencies, at least that’s the speculation circulating in the world buzzing with number-crunchers and digital money enthusiasts. Despite the unpredictable highs and lows that have become a hallmark of this burgeoning market, 2024 boasts the potential to be a transformative year for cryptocurrencies, thriving in a trillion-dollar market that’s mounted a staggering growth of 102.01% year over year.

The contours of the crypto industry are undergoing considerable shifts with potentially monumental regulatory changes coming into play. For instance, the implementation of the Crypto-Assets Regulation and the amended Transfer of Funds Regulation (TFR) in the European Union could significantly reshape the crypto industry norms.

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One does need to consider the stability and growth of cryptocurrencies relies heavily on the results of ongoing deliberations regarding these regulations. Essential, thus, is the understanding of how these changes could potentially shape trading.

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In April that year, the event known as ‘the halving’ occurred, an incident slashing block rewards for miners to a mere 3.125 BTC. While it may not have created the expected thunderous echoes in the crypto circles, it’s noteworthy. Past halving events saw Bitcoin’s price surge by an eye-popping 5500% after the first, 1250% after the second and 700% in the third. Whilst it’s too premature to measure the impact of the recent ‘halving,’ it holds immense potential.

Furthermore, the sprawling iGaming industry, poised to reach a market value of $23.03 billion in 2024, could help tip 2024 in favor of being a pivotal year for crypto. Crypto casinos drawing attention with their heightened security, privacy, and remarkably speedy transactions are contributing heavily to the industry’s unprecedented growth. Evocatively, a plethora of online casinos are embracing cryptocurrencies, a move echoing the desires of gamers and gamblers for independence and the creation of revolutionary gaming experiences.

Innovations such as the Lightning Network have made digital currencies more applicable in real-world use. Advanced developments like scalability upgrades and social Web3 platforms for uncensored communications are unfolding. Yet, looming are concerns over a potential overdrive of innovation leading to alienation of mainstream users.

Reliable signs point to the discernable surge in institutional interest in crypto. Bitcoin Exchange Traded Funds (ETFs) and the seven-figure investments from major financial juggernauts have resonated in the market, especially during the first quarter of 2024. This trend is anticipated to spill over into the rest of the year, with Bitcoin spot ETFs predicted to be one of the biggest investments of 2024, prompting a heightened level of trust and interaction between crypto markets and exchanges.

As it stands, 2024 is viewed as a year of immense relevance for cryptocurrencies highlighted by a much-anticipated crypto explosion. However, lingering roadblocks pose a formidable challenge. Regulations must find the right equilibrium, technology should be accessible to the general public, and mass adoption by institutions and consumers alike is imperative.

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Whether 2024 will witness the crowning of crypto as the undisputed transformative force or merely add another chapter to its volatile narrative remains suspended in speculation.

The crypto landscape is ever-evolving, teeming with suspense and drama. So, fasten your seatbelts, crypto aficionados, the rollercoaster ride that is 2024, is only just beginning.

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NoOnes Unveils New Gift Card Marketplace: Seamlessly Sell and Buy Gift Card for Cryptocurrency

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NoOnes Unveils New Gift Card Marketplace: Seamlessly Sell and Buy Gift Card for Cryptocurrency

NoOnes Launches New Gift Card Marketplace

With the ability to sell gift card for cryptocurrency, we’re providing users with new financial opportunities and freedom”

— Ray Youssef, CEO at NoOnes

HONG KONG, CHINA, June 24, 2024 /EINPresswire.com/ — NoOnes, the leading financial communication super app, is excited to announce the launch of its new Gift Card Marketplace. This revolutionary platform allows users to effortlessly sell gift card and buy gift card, converting them into cryptocurrency and maximizing their value.

“With the ability to sell gift card for cryptocurrency, we’re providing users with new financial opportunities and freedom,” said Ray Youssef, CEO at NoOnes.

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Whether it’s selling an Amazon gift card or buying an Apple gift card, users can now transform their unused cards into valuable cryptocurrencies with ease. The new Gift Card Marketplace by NoOnes enables individuals to fully leverage their gift card balances while entering the world of digital assets.

“NoOnes is committed to financial empowerment globally, and our Gift Card Marketplace is a reflection of that mission,” stated Ray Youssef, CEO at NoOnes. “By allowing users to sell and buy gift card for cryptocurrency, we’re paving the way for greater financial independence and access.”

The NoOnes app provides users with a comprehensive suite of features, including access to a global conversation platform, a diverse marketplace with over 250 payment methods, and peer-to-peer payment capabilities — all supported by a secure Crypto wallet.

“We envision a future where financial access is universal and inclusive,” added Ray Youssef. “With NoOnes, users can embrace the benefits of cryptocurrencies, trade seamlessly, and contribute to a more equitable global financial landscape.”

Join NoOnes today and turn your unused gift card into crypto assets. Visit www.noones.com to learn more and download the app.

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About NoOnes:

NoOnes is a financial communication super app dedicated to integrating individuals into the global financial system. With a mission to empower the Global South and foster financial inclusion, NoOnes offers users access to a diverse marketplace, peer-to-peer payments, and a secure Bitcoin wallet.

Aihan Chiang
NoOnes
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Crypto insider turns $3,300 into $1.69 million in 15 days

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Crypto insider turns $3,300 into $1.69 million in 15 days

A crypto insider made over $1.68 million of realized profits in 15 days, trading in the Solana (SOL) ecosystem. The cryptocurrency trader spent 23 SOL, worth $3,300, to buy two meme coins and sold all his positions for 11,229 SOL, valued at above $1.69 million.

Notably, Lookonchain classified this trader as a crypto insider, considering the purchases were immediately after the tokens’ liquidity pools launch. The platform reported this recent accomplishment in a post on X on June 22, tracking on-chain data from multiple addresses. 

How did the crypto insider make over $1.68 million in profits trading two meme coins on Solana?

Overall, this crypto insider used 7.1 SOL and 16 SOL to buy HULK and GUNIT, respectively. 

First, multiple addresses acquired 190.2 million HULK with $1,200 worth of Solana and held them through 15 days. These addresses sold the entire position for 5,760.7 SOL, worth $974,200—an 810x gain over the initial investment.

HULK/SOL on Raydium. Source: Lookonchain

For GUNIT, the insider spent 16 SOL, worth $2,100, to buy 366.92 million of the crypto. Eight hours later, the meme coin token experienced a massive surge, and the trader sold all his stack. This trade resulted in 5,475.5 SOL, worth $719,800, for a 343x increase in his holdings.

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GUNIT/SOL on Raydium. Source: Lookonchain

Later, the insider consolidated his profits in the crypto wallet address ‘4uh969’. From the now-acquired 11,229 SOL, the address sent 3,070 SOL to a Kraken address, likely to realize this profit in fiat.

The dangers of insiders and crypto traders speculating on meme coins

This is another example of how crypto insiders often take advantage of retail by creating and launching meme coins and money-grab schemes. They benefit from information asymmetry and the hype of a market that insists on gambling with poor fundamental digital assets.

This mentality aligns with the “Greater Fool Theory,” which suggests that profits can be made by buying overvalued assets and selling them to a “greater fool.”

Cryptocurrencies are inherently volatile and present considerable risks for traders, investors, and users, even with solid and usable projects. However, trading meme coins adds another layer of risks that will often drain money from many to a few insiders.

For this reason, investors should avoid these schemes and look for a cryptocurrency‘s fundamentals, cautiously researching supply and demand properties. Recent data reported by Finbold suggests the trend is shifting away from meme coins and into better-fundamented projects.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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19 Million Chainlink Tokens Transferred To Exchanges – More Downside For LINK Price?

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19 Million Chainlink Tokens Transferred To Exchanges – More Downside For LINK Price?

The cryptocurrency market witnessed severe bearish pressure over the past week, and the price of Chainlink (LINK) wasn’t an exception. The altcoin has continued to struggle with its torrid form, losing nearly 10% of its value in the last seven days.

Interestingly, the bears seem to still be in control at the moment, with the latest on-chain revelation suggesting that there might be further downside for the LINK price over the next few days.

Are Chainlink Investors Offloading Their Assets?

Popular crypto analyst Ali Martinez revealed in a post on the X platform that huge amounts of the Chainlink token have made their way to centralized exchanges in the past day. This on-chain observation is based on Santiment’s “Supply on Exchanges” metric, which tracks the amount of a particular cryptocurrency being held on centralized exchanges.

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When this metric’s value increases, it implies that investors are making more deposits than withdrawals of a cryptocurrency (Chainlink, in this case) into centralized exchanges. A decrease in the metric’s value, on the other hand, indicates that holders are moving their coins out of the trading platforms.

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Source: Ali_charts/X

According to data from Santiment, more than 18.77 million LINK (worth roughly $256.2 million) were transferred to cryptocurrency exchanges in the past day. This substantial transfer represents one of the largest single-day movements for the Chainlink token in recent months. 

Interestingly, a report from SpotOnChain revealed that 21 million tokens were unlocked from Chainlink’s non-circulating supply contracts on Friday, June 21. Specifically, the contract transferred 2.25 LINK tokens were sent to the multi-sig wallet 0xD50f

More notably, 18.25 million LINK tokens were sent to Binance, the world’s largest cryptocurrency exchange. This significant token unlock presents a case of supply inflation, which can impact the value of the token especially if a sell-off occurs.

Moreover, these fund movements can precipitate an increase in market volatility and possibly lead to price fluctuations. Given the magnitude and destination of these transfers, there is a greater likelihood of increased selling pressure, which can drive down the price of LINK. 

Is A Return To $12 On The Cards?

As of this writing, the price of Chainlink is barely holding above $13.6, having declined by more than 3% in the past day. Meanwhile, the altcoin slumped 9% from about $15 to $13.5 over the past week, according to data from CoinGecko.

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If the recent selling pressure continues, then further decline might be on the horizon for LINK’s price. This could see the cryptocurrency make a return to around the $12 price zone for the first time in more than a month.

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Nevertheless, the Chainlink token ranks amongst the top 20 largest cryptocurrencies in the sector, with a market capitalization of over $8.27 billion.

Chainlink
Chainlink price at $13.6 on the daily timeframe | Source: LINKUSDT chart on TradingView

Featured image from Binance Academy, chart from TradingView

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