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Cryptocurrency Price Today: Bitcoin Remains Stable At $49,000, PYTH Becomes Top Gainer

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Cryptocurrency Price Today: Bitcoin Remains Stable At $49,000, PYTH Becomes Top Gainer

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to remain stable within the $49,000 range early Tuesday. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor losses across the board. The PYTH token emerged as the biggest gainer of the lot, with a 24-hour jump of over 15 percent. BEAM, which was the biggest gainer yesterday, became the biggest loser, with a 24-hour dip of over 7 percent. 

The global crypto market cap stood at $1.85 trillion at the time of writing, registering a 24-hour dip of 0.94 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $49,468.81, registering a 24-hour dip of 0.87 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 42.79 lakh.

Ethereum (ETH) Price Today

ETH price stood at $2,630.87, marking a 24-hour dip of 0.60 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.29 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 1.19 percent, as per CoinMarketCap data, currently priced at $0.08102. As per WazirX, Dogecoin price in India stood at Rs 7.

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Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 4.25 percent. At the time of writing, it was trading at $68.98. LTC price in India stood at Rs 6,000.

Ripple (XRP) Price Today

XRP price stood at $0.5247, seeing a 24-hour loss of 1.11 percent. As per WazirX, Ripple price stood at Rs 45.50.

Solana (SOL) Price Today

Solana price stood at $111.60, marking a 24-hour dip of 1.82 percent. As per WazirX, SOL price in India stood at Rs 9,505.43. 

Top Crypto Gainers Today (February 14)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Pyth Network (PYTH)

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Price: $0.6732
24-hour gain: 15.04 percent

Blur (BLUR)

Price: $0.6945
24-hour gain: 9.10 percent

Stacks (STX)

Price: $2.13
24-hour gain: 7.92 percent

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Akash Network (AKT)

Price: $3.47
24-hour gain: 6.63 percent

VeChain (VET)

Price: $0.03324
24-hour gain: 5.63 percent

Top Crypto Losers Today (February 14)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

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Beam (BEAM)

Price: $0.02756
24-hour loss: 7.23 percent

Astar (ASTR)

Price: $0.1787
24-hour loss: 4.76 percent

SATS (1000SATS)

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Price: $0.0004515
24-hour loss: 4.63 percent

Injective (INJ)

Price: $34.52
24-hour loss: 4.50 percent

Ronin (RON)

Price: $2.61
24-hour loss: 4.37 percent

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What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Following the release of January’s US CPI data, which indicated a higher-than-anticipated 3.1% annual inflation rate, Bitcoin is currently consolidating. Despite a dip to $48,000, it has bounced back to $49,500, showcasing a bullish trend. If Bitcoin maintains levels above $49,000 this week, the potential for growth to $50,000 and beyond is likely; otherwise, a correction within the $46,000-$48,000 range might occur.”

CoinSwitch Markets Desk noted, “After crossing $50k early yesterday for a brief period of time, BTC corrected for about 2.5% due to the US CPI data for January where CPI print came higher than expected. The January report showed 3.1% year-on-year inflation as compared to the expectation of 2.9% which directly had an impact on the chances of rate cuts in May. Market participants now see a 34% chance of a rate cut as compared to 51% before this data became public. Since $50k is a major psychological resistance, it would be interesting to see whether BTC corrects further down. On the other hand, as crypto fear and greed hit its highest levels since Nov 2021, we are seeing the crypto market rally. In altcoin news, SOL(-1.89%) briefly overtook BNB as the 4th largest crypto by market cap, with its market being in touching distance of $50 billion. If BTC continues the rally or even starts consolidating near the current price levels, we could see great gains in fundamentally solid altcoins.”

Rajagopal Menon, Vice President, WazirX, said, “On Wednesday, Bitcoin (BTC) dipped below $50,000 in response to a US inflation report that exceeded expectations, affecting projections for interest-rate cuts. The leading cryptocurrency faced a 2% downturn, sliding from an initial $50,000 to $48,700, rebounding to $49,600 afterward. In contrast, SOL exhibited increased resilience, achieving a gain of over 1%. Analysts urged vigilance concerning market optimism, highlighting that the inflation data hindered Bitcoin’s rally shortly after surpassing the $50,000 threshold on Monday.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin fell below $49,000 after the release of stronger-than-expected US CPI data, dampening expectations of a rate cut. With US government bond yields and the rising dollar index, Bitcoin has faced selling pressure along with stocks and gold. However, the withdrawal may be short-lived. Spot inflows into Bitcoin ETFs remain strong, suggesting sustainable demand despite macroeconomic uncertainties. Additionally, with the upcoming supply halving and the continued influx of spot ETFs, bullish sentiment remains. Options data indicated rising investor optimism, while potential safe-haven demand amid concerns over US regional banks could further support bitcoin. Thus, declines are seen as buying opportunities, with a retest of the all-time highs at $69,000 likely in the near future.”

Shivam Thakral, CEO of BuyUcoin, said, “The Crypto market experienced a slight correction as Bitcoin made a pull back to $49,000 level. The next few days could see a decrease in Bitcoin Dominance and the start of a bullish trend for Ethereum and Altcoins. At the same time the Bitcoin ETF inflows have continued to increase making the demand for Bitcoin 10x more than the supply coming from miners. We may witness a continuation of the bullish trend until the halving in April this year.” 

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CoinDCX Research Team told ABP Live, “In the last 24 hours, the release of US CPI data showing 3.1% versus the forecasted 2.9% caused BTC to drop by almost $2000 to the $48,000 level. However, it managed to recover slightly. This drop also impacted altcoins, which fell by more than 5%, with some recovering afterward. Additionally, NASDAQ experienced a decline of more than 1.5%. Technically, BTC saw a daily bearish candle close after eight consecutive days of green candle closes. While this isn’t necessarily a sign of reversal yet, BTC needs to maintain its position above $49,000 and clear the $51,850 level. On the other hand, ETH/BTC bounced back from its support level, suggesting that we may see ETH outperforming BTC for the next few days.”

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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Leveraging Artificial Intelligence to Revolutionize Efficiency in Cryptocurrency Staking

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Leveraging Artificial Intelligence to Revolutionize Efficiency in Cryptocurrency Staking

Miami, FL, June 27, 2024 (GLOBE NEWSWIRE) — CryptoHeap, a leading name in the cryptocurrency staking industry, is excited to announce its latest innovation: AI-driven crypto staking. By leveraging cutting-edge artificial intelligence, CryptoHeap aims to revolutionize efficiency and profitability in cryptocurrency staking, setting a new standard for the industry. This groundbreaking technology is poised to enhance user experience, optimize returns, and solidify CryptoHeap’s position as one of the best crypto staking platforms available.

Salvage Warwick, CEO of CryptoHeap, highlighted the transformative potential of AI in crypto staking. “The integration of AI into our staking platform is a significant milestone for CryptoHeap. This advancement allows us to provide users with more efficient, accurate, and profitable staking opportunities. We believe AI-driven staking will be a game-changer, not just for our platform, but for the entire industry,” Warwick stated.

Enhancing Efficiency with AI

Artificial intelligence offers numerous benefits for crypto staking platforms. By employing machine learning algorithms and predictive analytics, CryptoHeap can process vast amounts of market data in real-time. This capability enables the platform to make informed decisions, optimize staking strategies, and maximize returns for users. The AI-driven approach also improves risk management, providing investors with a more secure and stable staking experience.

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“Our AI-driven platform continuously learns and adapts to market conditions. This means our users benefit from the most current strategies and insights, making their staking experience more rewarding and secure,” Warwick explained.

Comprehensive Staking Packages

CryptoHeap’s AI-driven platform offers a range of staking packages tailored to various investment goals. These packages include some of the best crypto staking coins, positioning CryptoHeap as a top choice for those looking to invest in the best crypto to stake in 2024. By providing options with daily rewards, capital return, and significant referral bonuses, CryptoHeap ensures a diverse range of opportunities for investors.

Focus on Ethereum Staking

Ethereum remains a focal point for many investors, and CryptoHeap’s AI-driven platform offers some of the best ethereum staking platforms available. The platform’s advanced AI capabilities provide enhanced insights and strategies for staking Ethereum, ensuring users can maximize their returns safely and efficiently.

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Warwick emphasized the benefits of Ethereum staking on the platform. “Ethereum staking is a cornerstone of our offerings. Our AI technology provides users with the best possible strategies for staking Ethereum, addressing common concerns such as ‘is staking ethereum a good idea’ and ‘is staking ethereum safe.’ With our platform, users can stake Ethereum with confidence and achieve superior returns,” he said.

Comprehensive Staking Packages

CryptoHeap offers a diverse range of staking packages, each tailored to meet various investment needs. These packages include options for some of the best crypto staking coins, making CryptoHeap one of the best crypto staking platforms in the market. Investors can choose from staking options that offer daily rewards, capital return, and significant referral bonuses.

Warwick emphasized the platform’s commitment to providing the best staking crypto options, particularly highlighting Ethereum staking. “Ethereum staking remains one of the most popular choices among our users. We offer some of the best ethereum staking platforms, ensuring that our users can stake their ETH safely and profitably. For those asking ‘is staking ethereum a good idea’ and ‘is staking ethereum safe,’ we provide robust solutions that address these concerns,” he explained.

Strategic Monitoring and Future Plans

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As the crypto market evolves, CryptoHeap remains committed to innovation and user satisfaction. The platform continuously enhances its AI capabilities to ensure users can navigate the complexities of the crypto market effectively.

“We are continuously improving our AI algorithms and expanding our offerings to meet the needs of our users. Our focus on innovation and excellence ensures CryptoHeap remains at the forefront of the crypto staking industry,” Warwick concluded.

With the introduction of AI-driven crypto staking, CryptoHeap is set to revolutionize the industry. The platform’s commitment to leveraging cutting-edge technology, providing comprehensive staking packages, and ensuring security and education positions it as a leader in the crypto staking space.

Investors and crypto enthusiasts are encouraged to explore the AI-driven staking packages and other features available on CryptoHeap’s platform. For more information about CryptoHeap’s services and upcoming enhancements, visit the official website at https://cryptoheap.com/.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency & securities.

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Crypto Capital: How Cryptocurrency is Transforming Venture Capital Funding

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Crypto Capital: How Cryptocurrency is Transforming Venture Capital Funding

When the mainstream financial world started embracing cryptocurrency, it created a digital revolutionary force that has been prevalent in the past decade and continues to do so.

Since 2009, digital currencies have grown exponentially in both adoption and market value. Powered by the blockchain, these decentralized assets promise transparency, security, and the potential for financial inclusion on a global scale.

Traditionally, venture capital (VC) funding has been the lifeblood of startups, providing the necessary financial support and strategic guidance to help nascent companies grow. Venture capitalists typically invest in early-stage companies in exchange for equity, aiming for significant returns as these companies succeed. However, this process is often lengthy, complex, and accessible primarily to those within established financial networks.

Cryptocurrency is now transforming this landscape, offering new, innovative ways for startups to raise capital. We will explore how cryptocurrency is reshaping venture capital funding, the benefits and challenges it brings, and what the future holds for this dynamic intersection of finance and technology.

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The Rise of Crypto Capital

Initial Coin Offerings (ICOs)

One of the most significant developments in crypto capital has been the advent of Initial Coin Offerings (ICOs). An ICO is a fundraising method where startups issue their own cryptocurrency tokens in exchange for established cryptocurrencies like Bitcoin or Ethereum. This approach allows companies to bypass traditional financial intermediaries, accessing capital directly from a global pool of investors.

The popularity of ICOs peaked around 2017 and 2018, with numerous startups raising substantial funds quickly. This method democratized access to investment opportunities, enabling a wider range of participants to support innovative projects. One example is Tim Draper, a rich and well-known crypto enthusiast that backed several ICOs (Tezos and Bancor). However, it is not a fairy-tale world and the lack of regulation and oversight led to several high-profile scams and failures, highlighting the need for more robust frameworks and some regulation.

Security Token Offerings (STOs) and Initial Exchange Offerings (IEOs)

In response to the challenges faced by ICOs, newer methods such as Security Token Offerings (STOs) and Initial Exchange Offerings (IEOs) have emerged. STOs involve the issuance of tokens that are backed by real-world assets and comply with existing securities regulations, providing more security and legitimacy to investors. IEOs, on the other hand, are conducted through the most trusted central exchanges for Bitcoin and other cryptocurrencies, offering a more controlled and secure fundraising environment. These exchanges vet projects before listing their tokens, adding an extra layer of credibility and protection for investors.

These developments in crypto capital illustrate a shift towards more regulated and secure methods of fundraising, balancing innovation with investor protection.

Benefits of Crypto Funding for Startups

Accessibility and Inclusivity

Crypto funding democratizes investment, allowing global participation beyond traditional venture capital constraints. Startups can attract a diverse range of investors, including those typically excluded from financial markets.

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Speed and Efficiency

Crypto funding processes, such as ICOs, STOs, and IEOs, are much faster than traditional VC rounds, enabling startups to quickly secure capital and accelerate their growth without lengthy delays.

Liquidity and Tokenization

Tokenizing assets via blockchain offers immediate liquidity and fractional ownership. This allows investors to trade tokens on exchanges and access high-value projects, providing flexibility and early exit opportunities.

Challenges and Risks

Regulatory Uncertainty

The regulatory environment for cryptocurrencies is inconsistent, with some regions embracing them and others imposing strict regulations. Startups must navigate these complexities carefully to ensure compliance.

Security and Fraud

The decentralized nature of cryptocurrencies can lead to security vulnerabilities and fraud. Startups need robust security measures and transparent practices to protect investors and build trust.

Market Volatility

Cryptocurrencies are highly volatile, posing risks for startups dependent on crypto capital. Effective financial planning and converting to stable assets can help manage this volatility.

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Case Studies

Successful Crypto-Funded Startups

Several startups have successfully leveraged crypto capital to fuel their growth and innovation. One notable example is Filecoin, a decentralized storage network that raised over $250 million through an ICO in 2017. Filecoin’s innovative approach to data storage and its use of blockchain technology attracted significant interest from the crypto community, enabling it to secure substantial funding quickly.

Another success story is EOS, a blockchain platform for decentralized applications (dApps). EOS raised a staggering $4 billion through a year-long ICO, making it one of the most successful crypto fundraising campaigns to date. The funds have been instrumental in the development and scaling of the EOS platform, which aims to provide high-performance and scalable solutions for dApp developers.

Lessons Learned

These case studies offer valuable lessons for other startups considering crypto funding. Firstly, having a clear, compelling vision and a well-defined use case for blockchain technology can attract significant interest and investment. Transparency and strong communication with potential investors are also crucial in building trust and credibility. Moreover, navigating the regulatory landscape effectively and ensuring compliance can help mitigate legal risks and enhance the legitimacy of the fundraising efforts.

By examining these success stories, other startups can glean insights into best practices and strategies for leveraging crypto capital to achieve their business objectives.

The Future of Venture Capital and Cryptocurrency

Integration of Crypto in Traditional VC

Traditional venture capital firms are increasingly recognizing the potential of cryptocurrency and blockchain technology. Some are integrating these technologies into their investment strategies and portfolios. By participating in ICOs, STOs, and IEOs, traditional VCs can diversify their investments and gain exposure to innovative blockchain projects. Additionally, many VCs are exploring hybrid models that combine traditional equity investments with token-based fundraising, offering a new blend of financing options for startups.

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Predictions and Trends

The intersection of venture capital and cryptocurrency is poised to evolve further, driven by technological advancements and regulatory developments. One major trend is the growing adoption of decentralized finance (DeFi) platforms, which leverage blockchain technology to offer financial services without intermediaries. These platforms are creating new opportunities for startups to raise capital and for investors to access a broader range of investment options.

Another significant trend is the increasing tokenization of real-world assets, such as real estate, art, and commodities. This trend is expanding the scope of crypto capital beyond purely digital assets, enabling startups to attract investments from a wider audience. Furthermore, as regulatory frameworks mature, we can expect greater clarity and security for both startups and investors, fostering a more stable and trustworthy environment for crypto fundraising.

The integration of blockchain technology into various industries is likely to drive further innovation and investment, reshaping the venture capital landscape. As more traditional financial institutions embrace cryptocurrency, the lines between traditional and crypto funding will continue to blur, creating a more dynamic and inclusive ecosystem for startups.

Conclusion

Cryptocurrency is undeniably transforming the landscape of venture capital funding. From ICOs to regulated methods like STOs and IEOs, crypto capital offers startups innovative ways to raise funds with greater accessibility, speed, and liquidity.

However, this frontier comes with challenges such as regulatory uncertainty, security concerns, and market volatility. Learning from successful crypto-funded startups can provide valuable insights for others.

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As traditional VC firms increasingly adopt cryptocurrency and blockchain technology, and as regulatory frameworks evolve, the future of venture capital will become more dynamic and inclusive. The convergence of traditional and crypto funding models will open new opportunities and reshape the financial landscape.

Ultimately,while the path of crypto capital is still developing, its potential to revolutionize venture capital funding is evident. Startups and investors must stay informed, adaptable, and vigilant in navigating this complex terrain.

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Crypto Price Today: Bitcoin holds above $60k but down 1.5%. Ethereum, BNB, Solana, Dogecoin, others fall up to 4%

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Bitcoin traded with weakness on Thursday amid selling pressure though it managed to hold on above the $60,000 mark. World’s most expensive crypto asset was in a consolidation mode as inflows in BTC ETF’s salvaged some pride. It was trading at $60,659.83 around 12 pm India time, down by 1.5%. Other major crypto coins also traded with a negative bias. Among them were Etehreum, BNB, Solana, XRP and Dogecoin, Cardano and Shiba Inu which were down by up to 4% around this time.

Altcoins Tron, Avalanche and Toncoin were trading in the green and gained up to 1.2%.

Source: CoinMarketCap

Selling pressure in BTC has decreased amid heightened trading activity with majority of orders on exchanges being floated by buyers according to Taker Buy-Sell Ratio which is now above 1, Vikram Subburaj, CEO, Giottus Crypto Platform, said, adding that crypto’s Fear & Greed Index has rebounded to 40 after hitting a yearly low of 30 on Tuesday.

BTC surged to $62,322 supported by inflows of $31 million in US spot bitcoin ETFs, which offset recent outflows, Sathvik Vishwanath, Co-Founder & CEO, Unocoin said. The crypto market witnessed another session of volatility as BTC slipped below the $61,000 level due to heavy liquidations on defi platforms, Shivam Thakral, CEO of BuyUcoin observed. Citing data from Coinglass, Thakral said that Bitcoin spot ETFs saw an inflow of $31 million on Tuesday, ending a seven-day streak of outflows. “This shows that institutional buying is on the higher side. The bullish sentiment is expected to continue on Friday as bitcoin (BTC) options worth $6.68 billion and ether (ETH) options worth $3.5 billion are set to expire on the Deribit, a crypto derivatives exchange,” he opined.On the performance of other cryptos, Vishwanath of Unocoin highlighted BlackRock’s IBIT exceeding $1 billion in trading volume, signaling strong institutional interest.

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On the outlook of BTC, he said that despite the positive trading, the ebbs and flows of the GBTC market were putting pressure on BTC. He sees resistance at $63,440 while support at $60,620. Technical indicators such as RSI at 45 and 50-day EMA at $61,960 suggest a cautious outlook below $62,510, he opined.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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