The crypto industry has suffered a lot of criticism in its 13-year history. Yet, more and more individuals, institutions, and governments keep getting involved with the highly volatile industry.

Despite the scary fall of Sam Bankman-Fried and his FTX empire, gigantic financial institutions are entering the crypto market.

BlackRock, the biggest custodian bank in the world, and other titans of finance like Goldman Sachs are looking to grow rather than contract in the cryptocurrency space.

According to a report by Bloomberg, these financial institutions are pushing ahead with projects in the blockchain space. They’re expanding offerings in tokenization and are actively looking into crypto custody.

A person familiar with the situation at BlackRock mentioned that teams at BlackRock will continue to investigate the use of digital assets in capital-markets offerings. BlackRock is also focusing on Stablecoins, permission (or private) blockchain, tokenization, and crypto assets.

BlackRock also partnered with Coinbase Global Inc. in 2022. The duo signed an agreement to make it simpler for institutional investors to handle and trade Bitcoin, Ethereum, and other cryptocurrencies.

Per Bloomberg, a BlackRock official declined to comment on the company’s continued efforts.

Goldman Sachs is also not far behind in its expansion plans. The $1.55 trillion financial institution also unveiled its crypto assets platform in November, last year. It’s their expectation that customers will utilize the technology to create financial instruments from digital assets, such as real estate.

Goldman Sachs has also been involved in other activities within the crypto industry. Last year, Goldman Sachs partnered with Societe Generale SA and Banco Santander SA to issue a digital bond for the European Investment Bank using blockchain technology.

According to Mathew McDermott, Goldman’s global head of digital assets: “Using this technology allows us to transform the risk profile of a trade,” he said.

It’s not a pipe dream, there is real value.

In addition, seven traders work for Goldman Sach to deal in cash-settled cryptocurrency contracts for its customers.

The cryptocurrency desk was reopened during the 2021 cryptocurrency rally. It enables customers like investment funds and trading companies to purchase and sell cryptocurrency futures, non-deliverable forwards, and cash-settled options. It also gives them the option to go short or long on some exchange-traded products via the prime business.

Will the crypto industry see more investments?

The crypto industry has changed the narrative of finance through blockchain, smart contracts, Dapps, and non-fungible tokens.

The underlying technology of cryptocurrency, blockchain technology, also has tremendous use cases that exceed the financial industry. These use cases have been responsible for the explosion in crypto adoption.

The current applications of blockchain technology and smart contracts suggest that more investments are incoming. Companies and industries looking to streamline processes, and increase security, speed, and transparency will have little to no option from blockchain in the future.

Der Beitrag BREAKING: $10T BlackRock, $1.55T Goldman Sachs to widely expand Bitcoin, ETH and crypto offerings erschien zuerst auf Crypto News Flash.

• Pentoshi has also predicted that blockchain scaling solutions like Polygon (MATIC) and smart contract protocol Avalanche (AVAX) are set for massive surges.

The crypto market has stabilized a little with Bitcoin trading at stagering $23k. In the last seven days, investors have gained about 1 percent profit on their Bitcoin investment. According to some price prediction platforms, Bitcoin is in a bearish mode as current sentiment has hit a huge low.

According to some experts, investors could make a profit off altcoins as most of them are poised for an incredible run. Pseudonymous analyst Pentoshi with 671,300 followers on Twitter predicted the Bitcoin bull market last year. Pentoshi has also predicted that blockchain scaling solutions like Polygon (MATIC) and smart contract protocol Avalanche (AVAX) are set for massive surges. He believes that these assets look bullish and could surge toward a key resistance level.

Matic is currently trading at $1.12 and is up by 10 percent in the last seven days. AVAX is also trading at $20 and is up by 13 percent in the last seven days.

This one the most important and historical spot on the chart is $1.30. Think that is a great place to focus on the next major move. If able to close three-day [chart]+ above that, then we go into the previous range. Reject and back to the local lows shown.

Pentoshi predicts that AVAX is likely to see a 36 percent surge. 

AVAX prediction could be influenced by the partnership

This prediction could be facilitated by the recent partnership agreement between Amazon Web Services (AWS) and Ava Labs. The partnership is meant to assist individuals to launch and manage nodes on the Avalanche. In addition, it seeks to make the network more stronger and flexible for developers. As part of the deal, AWS will support Avalanche’s infrastructure and decentralized application (dApp) ecosystem, and also deploy one-click nodes using its marketplace. 

John Wu, president of Ava Labs said:

For us, this means, a lot of things. We have over 500 applications on the chain and we would love to give them a better experience now we have a real partnership that we can direct to the Activate program. On top of that, our users are always looking for a better experience. The one-click node is an incredible way to do it.

AVAX is still 85 percent down from its all-time high of $144. In the last 30 days, it has surged by 82 percent. Crypto predicting platform Bitnation predicts that AVAX could hit a minimum of $24 this year and a maximum of $36. 

Pentoshi wrote:

So Amazon comes to crypto, partners with AVAX, and then announces an NFT [non-fungible token] initiative, (but not confirmed if with Avax). They are making moves. Think this can run to $28 in the next month or so.

Interestingly, he believes Ethereum should not be ignored as it could pull up a big surprise. According to him, the ETH/BTC is setting up for a rally. He presented a chart that hints that the asset could hit ($1,677) for ETH/BTC. Ethereum is currently trading at $1,580.91. 

Der Beitrag Expert predicts massive rally for this altcoin and Ethereum to outperform Bitcoin – Report erschien zuerst auf Crypto News Flash.

Our data shows that investors have taken a step back with a majority of cryptocurrencies’ prices stagnating. Bitcoin which is the trendsetter has failed to break the $23,000 resistance level triggering speculation that it will retract and test recent supports. Despite prices stalling, network development and technological developments are still ongoing painting a bullish picture for a number of projects.

In this week’s CNF brief, we take a look at some of the most intriguing developments.

Massive cash for Bitcoin price uptrends comes from US institutions

A report early this week revealed that institutional investors play a key role in Bitcoin price uptrends. Although a majority of mainstream institutions are wary of cryptocurrencies, firms like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are notably heavily invested in cryptocurrency. Matrixport’s head of research and strategy, Markus Thielen confirmed that the bulk of the buying momentum that is pushing the price of Bitcoin upward is being fueled by the hoard of institutional investors pumping cash into the industry.

As these investors increase, it’s expected that prices will continue to rise. Additionally, regulators will be under massive pressure to introduce clear regulations that could further increase adoption. It’s further intriguing as recent data shows the Bitcoin Network processed more transaction value than Visa and Mastercard last year and is expected to surpass this in 2023…Read More

XRP price ‘in the thousands’ after Ripple vs. SEC case is settled

Speculation continues to grow around the XRP price. Earlier this month, Ripple CEO Brad Garlinghouse revealed that he expects the Ripple vs. SEC case will be settled in the first half of the year. With Ripple pegged to win, investors and analysts expect prices to rally. This especially after the advances in the XRPLedger from the last two years and the growth of the ecosystem will add to XRP price growth. Furthermore, some of the leading crypto exchanges that previously delisted XRP on their platform will rush to relist the digital asset.

Source: Travis Wolfe

However, Brad Garlinghouse-led company is treading on a very cautious path as any form of settlement without legally defining the status of the XRP coin can stir up another lawsuit sometime in the future… Read More

At the time of press, XRP is exchanging for $0.4109. The digital asset has been trading sideways for the last 7 days. With a record of $3.84 as the all-time high reached 5 years ago, the token is still a long way from its ATH.

Developers confirm billions of SHIB will be burned with Shibarium

Amid the tanking SHIB burn rate, lead developer Shytoshi Kusama assures an uptick in burn rate with the Shibarium release. The eagerly awaited  Layer-2 scalability network is set to launch soon and will offer a major boost to the SHIB token. Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be burnt with the release of the Layer 2 platform Shibarium.

As per the MVRV-Z score indicator, the SHIB price is largely undervalued even now and holds the potential to rally another 75 percent two months from now…Read More

Samsung taps VeChain for intelligent ship data application

VeChain has continued to garner traction and receive major recognition. In the latest development, Samsung has tapped the leading blockchain for the deployment of its intelligent ship data application. With support from the World-leading certification authority DNV, Samsung Heavy Industries, the first Korean shipbuilding firm to take this step, has successfully deployed its “Intelligent Ship Network Security Application ” on the Vechain network.

In order to reduce the chances of information alteration when data is shared with ships and other off-shore tools on the recovering end, VeChain serves as a security solution for shipping companies, shipyards, and other bodies involved…Read More

ShimmerEVM finally launching as $MIOTA remains top 10 crypto for most active developer ecosystems

IOTA and its staging network Shimmer also made headlines during the week for various developments. For starters, ShimmerNet’s lead contributor noted that while close, they are not rushing to launch the ShimmerEVM citing the risks of the network going down.  Since the launch of the Shimmer network last year, the team has been working on the launch of the ShimmerEVM chain which is compatible with the Ethereum Virtual Machine (EVM).

The team at ShimmerEVM had been testing several UX improvements which include incorporating convenience functions such as using Shimmer to pay gas directly for L1-L2 transfers.This revelation follows a report that showed that IOTA is among the top 10 most active developer ecosystems. With Shimmer, IOTA could climb even higher as more developers join the ecosystem…Read More

Der Beitrag CNF Brief: 5 of biggest stories this week- Ripple, Shiba Inu, VeChain, IOTA and Bitcoin erschien zuerst auf Crypto News Flash.

The United States Senate is likely on track to get a new resolution that will help advance the acceptance of Bitcoin (BTC) on Capitol Hill. The new initiative dubbed ACCEPT Resolution was introduced by Senator Ted Cruz and it is an acronym for Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution.

Should the resolution become law, it will pave the way for vending machines, and food vendors on Capitol Hill to accept Bitcoin as a medium of payment. The government will also be able to form contracts with food vendors who are more favorably disposed to digital currencies. As the Resolution is not necessarily a full-fledged Bill, its impact, if adopted cannot have any influence outside of the Capitol. The resolution reads:

A concurrent resolution requiring the Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives to contract with food service contractors and vending machine contractors for the Capitol Complex that accept cryptocurrency, and for other purposes.

There are a number of grey areas with respect to concurrent resolution. While it is generally known that Bitcoin is the most popular digital currency and the proposal may specifically be more linked to it, the resolution did not specifically point out which digital currency it will support and which it will not.

₿REAKING: New U.S. Senate bill would require all restaurants, cafes, and vending machines on Capitol Hill to accept #bitcoin payments pic.twitter.com/coZD72NN1I

— Documenting ₿itcoin 📄 (@DocumentingBTC) January 27, 2023

As detailed by the resolution, other vendors on Capitol hill including the gift shops will also be permitted to accept payment in crypto if the resolution is passed, extending the overall utility of the nascent asset class for lawmakers.

Bitcoin and Crypto imbalance in the US Senate

The United States is one country in which the stance of Bitcoin and cryptocurrencies is much under a lot of dispute. While there are several regulators that lays claim to the provision of oversight on the burgeoning industry, there is neither a specific nor an encompassing regulation that guides the crypto ecosystem.

Lawmakers on Capitol Hill are even more divisive on the subject of cryptocurrencies. While a handful of Senators including Ted Cruz and Cynthia Lummis are pro-crypto advocates, others like Elizabeth Warren are vocal critics of the digital currency and industry in general.

While the core aim of the Concurrent Resolution remains largely unknown, the move might come in handy to give the US Senate members a first-hand understanding of the operating model of these nascent asset classes. This way, they will be well-equipped in terms of knowledge of what it takes to expand the regulatory allowance for the industry as a whole.

The attempt to regulate Bitcoin and crypto by both the US Senate and the House of Representatives has been a very volatile subject. The industry was riled up when the government wanted to tax all Virtual Assets Service Providers (VASPs) to fund the $1 trillion infrastructure Bill introduced by President Joe Biden when he assumed office.

Some terms in the Bill had to be altered after much wrangling to exclude some VASPs like crypto miners whose involvement in the space is not focused on direct interactions with customers.

Der Beitrag New U.S. Senate bill requires all restaurants, cafes and vending machines to accept Bitcoin payments erschien zuerst auf Crypto News Flash.

Following the recent market selloff, two prominent personalities in the cryptocurrency community have given insights into where they believe the market is headed.

For Ethereum (ETH), current prices are primed to potentially surge and are likely to be sustained, after the commencement of the upcoming Ethereum Shanghai upgrade scheduled for March, according to Weiss Crypto ratings.

#Bitcoin market cap dominance cools down, signaling a potential #altcoin rally. Keep an eye on #Ethereum's Shanghai upgrade in March for potential price pressure. #crypto

— Weiss Crypto (@WeissCrypto) January 24, 2023

Bitcoin is also similarly expected to increase in the weeks ahead. Cryptocurrency analyst Kaleo is extremely bullish and has taken to Twitter to express his positive sentiments.

I've never been so bullish on Bitcoin in my life for a window of what I think will happen over the next several weeks than I am right now.

— K A L E O (@CryptoKaleo) January 25, 2023

I don’t think this rally leads to new ATHs (more likely top out and distribute in the $40K – $45K range for a couple of months before retracing back to the mid to high $20Ks later this year), but I really think it’s about to accelerate rapidly.”ded.

Mirroring his sentiments, Ki Young Ju, the CEO of Cryptoquant claims that Bitcoin has entered an early bullish phase.

He further stated that the Market Capitalization versus Realized Capitalization (MVRV) on-chain indicator shows that investors are still underwater, and very unlikely to sell their Bitcoins. Any recorded sale at this time from investors might be due to bankruptcy or coins that have been seized by the government, he remarked. He explained.

Of course Bitcoin still has contagion & macro risks, and we may see more bankruptcies, M&As, and capitulations in the next few months. But, from an on-chain perspective, $BTC whales haven’t moved Bitcoins despite the recent price surge. The market might have yet to reach its target.

Crypto market turns red, causing Bitcoin and Ethereum to shed prices

Bitcoin and Ethereum, despite having a positive run for the most part of January 2023, have dipped below newly attained price levels following a recent market sell-off. A massive crypto sell-off took place in the cryptocurrency market this week, with over $27 billion exiting the market within the last 24hrs.

The selloff was reflected in the market, with Bitcoin and the majority of altcoins slipping below newly attained price levels. Bitcoin has since lost stamina, to now trade at a press time price of $22,994.

Bitcoin has also lost $5.33 billion in market cap. Going from $436.03 billion to $441.36 billion. The decline has also interrupted Bitcoin’s attempt at testing $24,000, as the asset had just hit an ATH of $23,722 before the selloff.

Just like Bitcoin, Ethereum (ETH) had shaved off some of its price value. After managing to clutch $1,632 for the first time since November 2022, ETH’s market cap lost almost 5% in value. ETH is trading at $1,606 at the time of this report.

Der Beitrag Is the current Bitcoin and Ethereum pump sustainable? Experts weigh in erschien zuerst auf Crypto News Flash.

Bitcoin’s (BTC) price is constantly in the crosshairs of almost every trader in the digital currency ecosystem. The largest market capitalization digital asset is also being given the biggest attention in the market by the big money buyers or institutional investors.

According to a report from CoinTelegraph, Matrixport’s head of research and strategy, Markus Thielen confirmed that the bulk of the buying momentum that is pushing the price of Bitcoin upward is being fueled by the hoard of institutional investors pumping cash into the industry.

The claims are not unfounded as firms like MicroStrategy Incorporated, Block Inc, and Paypal Holdings Inc are notably heavily invested in cryptocurrency. While the institutional investors betting on Bitcoin are not confined to those that are publicly listed, many of those investing in the nascent asset class are almost unknown as a result of the fact that they do not make their filings public.

Per the CoinTelegraph report, data insights from Matrixport show that if an asset that trades 24 hours performs well during US trading hours, then it is the institutional investors that are fueling such growth. On the other hand, if an asset that trades round the clock outperforms during Asian trading hours, then it is being fueled by buying activities from Asian retail investors.

While the United States institutions have the money to move the market, Asian retail investors have the number to cause a change but there is a bigger tilt in the performance of Bitcoin that showed it is being driven by US corporate buyers.

While the Matrixport research lent a good insight, that existing holders of Bitcoin like Tesla chose not to sell its remaining BTC has also injected some price stability into the market as a whole.

Bitcoin price and institutional investor buying, a good or bad trend?

While everyone that invests in Bitcoin or any risk asset is out to make a profit from their holdings through price growth, institutional investors make use of their shareholder’s money to fund the purchase of the asset, a situation that makes their dumping season a very profound and unexpected one.

The stability in the price of Bitcoin is best driven when small scaled HODLers sell off as compared to a huge selloff by institutional investors who typically have a larger unit under their custody. Corporate investors are prone to sell off their assets as Tesla did to over 75% of its Bitcoin holdings when it looked like it will not meet its financial aspirations sometime in 2022.

Corporate buyers typically use Bitcoin as a safety net to cushion against the effect of the likely slump in the broader financial ecosystem. This makes the continuous accumulation a risky trend for individual buyers who may not have a time-tested strategy to hedge their bets in order not to be caught up in the snare of erratic selling pressures from corporate investors.

Der Beitrag Massive cash for Bitcoin price uptrends comes from US institutions – Is it a bull trap or sustainable erschien zuerst auf Crypto News Flash.

A crypto technical analyst, “Game of Trades,” has highlighted six strong on-chain metrics to keep Bitcoin’s hopes alive. According to the analyst, they signal a “generational buying opportunity” for market players.

This update comes shortly after Bitcoin witnessed the largest liquidation of short positions in 24 hours since August 2021.

Accumulation trend score, Entry-adjusted dormancy flow, Reserve risk, Realized price, MVRV Z-score, and Puell multiple were all featured in the metrics analyst GoT broke.

Bitcoin’s accumulation trend score shows that large institutions and whales have been deeply accumulating Bitcoin since the FTX saga. The last time deep accumulations like this happened during the 2018 and 2020 bottoms.

Bitcoin: 6 on-chain metrics calling for a generational long-term buying opportunity

A thread 🧵

— Game of Trades (@GameofTrades_) January 23, 2023

The metrics also show that investors’ confidence level is at an all-time high. In his own words, “at levels never seen before in Bitcoin’s entire history.” This is captured in the reverse risk metric that assesses the confidence of long-term holders in relation to Bitcoin’s current price.

Analysts like Gaah also believe that the current Bitcoin setup shows a strong short and long-term buying opportunity. Bitcoin entered a ranging market on Jan 20 and has lingered on around a major support at $22,300 and a resistance zone at $23,400.

Ranging markets usually denote an indecisive market and traders are often cautious to wait for the price to break out. This is either through a major support zone or a resistance zone to decide where the market will head next.

Around $20k was a major resistance zone Bitcoin had to convert to support to show bullish signs. It crossed that on Jan 20 and converted the $20k range to its bottom. The next major point according to Analyst Gaah is the $24k zone. Should Bitcoin break out through the $23k zone and convert the $24k zone to another floor, a rally is inevitable.

Bitcoin’s price performance

Bitcoin suffered a terrible decline in 2022. The asset declined by a whopping 60 percent. As a result, Bitcoin lost billions in its global market capitalization since hitting new price levels in 2021.

Cryptocurrency has been showing signs of recovery amidst all the crashes and saga that saturated the crypto market in 2022. Around 37-40 percent is the recorded range Bitcoin has recovered in Jan 2023 alone, showing strong bullish signs.

Crypto proponents like Tim Draper also hold very optimistic views on Bitcoin’s price performance in 2023. The billionaire and venture capitalist believe that Bitcoin will cross the $250,000 Mark before the end of 2023.

One of his reasons comes from a strong belief that more women will be involved in crypto transactions since 80 percent of women control retail spending and only 1 out 7 wallets are currently held by women.

Der Beitrag Bitcoin is a ‘generational buying opportunity’ as this onchain metrics flash – Analysts take erschien zuerst auf Crypto News Flash.

Brian Armstrong, the CEO of Coinbase Cryptocurrency exchange, has spoken on the need for the leaders of Brazil and Argentina to consider Bitcoin as a common cryptocurrency, following the announcement that both presidents are working towards creating a common currency.

He explained in his tweet, that Bitcoin is a digital currency worth considering, and added that Bitcoin is a promising long-term candidate for both countries.

Wonder if they would consider moving to Bitcoin – that would probably be the right long term bet https://t.co/6EKJdwcSnO

— Brian Armstrong (@brian_armstrong) January 23, 2023

Bitcoin’s limited supply and rapid adoption by many investors and institutions are some factors that spotlight its global value.

Bitcoin has also been the most valued cryptocurrency by market capitalization over the last 5 years. The demand for the benchmark cryptocurrency has grown tremendously within that time and resulted in its value topping every other existing cryptocurrency.

Bitcoin has also been tagged by many prominent financial figures, including the likes of Paul Tudor and Tim Draper, as the only cryptocurrency with intrinsic value.

However, in contrast, investment strategist and economist Raoul Paul has pushed against Brian Armstrong’s suggestions, explaining that Bitcoin’s intense volatility would do more harm than good.

Currently no one can have a national currency with 100% volatility that declines 65% in the down part of the business cycle and rises 10x in the up cycle. Businesses struggle to plan or hedge that.

he said in a response tweet.

Argentina and Brazil’s Presidents to use a common currency to boost South America’s economy

Argentina and Brazil have opened up about their joint economic goals. Both countries are now embarking on a mission to push for the use of their local currencies. Existing monetary policies will also be adjusted in an attempt to bypass exchange barriers.

The President of the Argentine Republic, Alberto Fernandez, and Luiz Inacio Lula da Silva, the President of Brazil, disclosed these plans in a jointly written article, published on the Argentine website Perfil.

They also spoke on the need for a common currency that has the capacity to tighten economic growth across South America. The article added.

We also decided to advance discussions on a common South American currency that can be used for both financial and commercial flows, reducing costs, operations and our external vulnerability,

Prior to both President’s decisions, Fernando Haddad and Gabriel Galipolo, Brazil’s current finance minister and his executive secretary, had first pitched for the need for a common currency in 2022.

Plans are now in motion for both leaders to discuss in an upcoming summit that will be held in Buenos Aires. The creation of another brand new currency “sur” meaning “south”, will also be discussed, as a tool to further trading within the South American regions, and also aid in the reduction of Brazil’s dependence on the United States dollars.

Der Beitrag Coinbase CEO: Brazil and Argentina to create new currency, should move to Bitcoin erschien zuerst auf Crypto News Flash.

One of the defining characteristics of investments in some crypto projects is their potential to produce a very massive return on investment. From Bitcoin (BTC) to Dogecoin (DOGE), and even Solana (SOL), the majority of cryptocurrencies are up by massive percentages despite the current outlook in the broader digital currency ecosystem.

In a recent tweet, a crypto expert with the user name Miles Deutscher, the most progressive digital tokens have not even been launched yet. He shared a list of the top 13 protocols that will yield likely yield a 50 – 100 growth trend to mimic a similar trend like Solana and Polygon (MATIC).

— LAYER 1s —

1. @SuiNetwork

Sui is a high performance L1 which uses the Move programming language.

It was founded by former FaceBook engineers, who worked on the now defunct Diem project.

Here's all you need to know: https://t.co/ExRQ6WHK4J

— Miles Deutscher (@milesdeutscher) January 22, 2023

Deutscher’s top 13 Protocols

The number one project on Deutscher’s list is the Sui Network, a high-performance L1 which uses the Move programming language. The protocol was founded by 5 former Meta engineers who once worked on the tech giant’s Libra/Diem project. 

The Sui Network has been under development for quite some time and it recently released its Testnet Wave 2 upgrade in readiness for its yet-to-be-announced full launch. The technological prowess of the Sui Network can be likened in part to that of Aptos which also utilizes the same Move programming language.

With speed, large memory, and expressiveness amongst the features highlighted by Deutscher, Sui Network is on track to hit a ready market when it finally launches.

The second of the crypto projects tapped for impressive growth is the Sei Network, a Cosmos-built first sector-specific L1 blockchain, specialized for trading to “give exchanges an unfair advantage.” The emergence of Sei Network will benefit from its design as the first order-book-focused L1 blockchain, designed to be faster and more reliable than other types of blockchains.

In addition, the expert tapped Celestia as another top protocol to watch out for. Celestia is a modular network, enabling anyone to easily deploy their own blockchain with minimal overhead. Celestia is building an infrastructure that seeks to empower more builders across the board, and it is this sort of protocol that most venture capital firms are paying attention to as vital for the evolution of crypto.

The other protocols mentioned include Fuel Labs, Quai Network, zkSync, StarkWare, Arbitrum, Hermez, LayerZero, Zeta Blockchain, Quadrata Network, and Drift Protocol. The pick of these projects is based on their inherent technological buildup, as well as the current community enthusiasm they are building across the board.

Contribution of crypto projects to evolution

Many proponents of the digital currency ecosystem and its underlying blockchain technology have argued that the industry is still evolving even though it is more than a decade already. While there has never really been a dearth of innovators in the space, developers are just beginning to showcase how ingenious they can be in helping to fuel the evolution of the broader ecosystem.

While the roles of legacy digital assets like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL) amongst others cannot be over-emphasized, these highlighted upcoming projects can also contribute to the inherent evolution of the digital currency ecosystem.

Der Beitrag The next Solana-like projects which could pump 50 – 100x are ready to be released – Crypto experts take erschien zuerst auf Crypto News Flash.

A recent report has revealed that the popular memecoin Dogecoin (Doge), has emerged as one of the few cryptocurrencies that cut down on its carbon emissions significantly.

According to data from forexsuggest, Dogecoin managed to reduce its carbon footprint by 25% in 2022. All credits goes to Elon Musk, the CEO of Tesla, who is also a well-known Dogecoin proponent over the years.

Musk, who on different occasions, had branded Dogecoin one of the market’s most promising assets, took things a step further, as he made his plans towards making Dogecoin a more “transaction efficient” asset known in 2021.

Working with Doge devs to improve system transaction efficiency. Potentially promising.

— Elon Musk (@elonmusk) May 13, 2021

Thanks to the newly implemented improvements, Dogecoin is now one of the most efficient blockchains on the market. The data also revealed that emissions released in 2021 totaled 1,423, but later declined to 1,063 as of 2022. In the years ahead, we might also continue to see Dogecoin Blockchain record a higher decline in carbon emissions.

Notably, Ethereum and Bitcoin Cash also saw carbon emissions drop by -100 percent and -90 percent respectively. While other chains including Bitcoin, Cardano, Ripple, and Litecoin saw a rise in CO2 emissions, totaling 187%.

Will Dogecoin’s reduced Carbon footprints stir up a price rally?

According to a survey from 2021, 49% of investors claimed to be affected by Bitcoin’s impact on the environment, due to its high carbon emission levels.

The survey surfaced not long after Elon Musk disclosed that Tesla was suspending Bitcoin as a payment option due to energy concerns.

Tesla & Bitcoin pic.twitter.com/YSswJmVZhP

— Elon Musk (@elonmusk) May 12, 2021

Musk would later endorse Dogecoin as a more sustainable option for carrying out transactions. “…The total transaction flow that you do with Dogecoin, like transactions per day, has much higher potential than Bitcoin.” Musk remarked back in 2021.

With Dogecoin’s carbon footprints decreasing by 25 percent, while also being primed for continuous decline in the years to come, Dogecoin presents itself as a more attractive option for investors prioritizing clean energy.

Given that adoption could increase for this reason, Dogecoin’s price might be impacted positively in the future.

It also bears mentioning that Dogecoin might become one of the first cryptocurrency methods integrated into Twitter.

Although shortly after acquiring Twitter, Musk explained that he will be stepping down as the CEO of Twitter, he disclosed that cryptocurrencies might be accepted on the platform in the future. As Musk remains bullish on Dogecoin, the possibility that the memecoin debuts on Twitter is still high.

Der Beitrag Dogecoin carbon emissions down by 25% thanks to new Elon Musk collaboration – Will it drive DOGE price? erschien zuerst auf Crypto News Flash.