DOGE Futures Settlements Hit $32.90 Million – What Does this Mean for AltSignals?

Audy Castañeda
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DOGE Futures Settlements Hit $32.90 Million – What Does this Mean for AltSignals?

Futures that track the popular Dogecoin cryptocurrency gained $32.90 million in settlements. Dogecoin price increased by more than 25.76%. AltSignals has gained popularity as it enables trading signals and analysis for Binance Futures.

AltSignals is a project that provides new opportunities for many traders on a global scale, by introducing numerous technologies, including Machine Learning (ML), Artificial Intelligence (AI), Natural Language Processing (NLP), and Advanced Sentiment Analysis, to allow them an extra level of functionality. It is also leading the way in AI-powered algorithms.

Some of the most significant features behind AltSignals include a fully automated trading capability that operates 24/7 and provides users with a high level of accuracy and allows them to manage their risk. There is also an advanced sentiment analysis, above mentioned, which allows users to get trading signals and analysis for Binance Futures, Forex, and Tradingview Algos.

ASI is the native cryptocurrency behind the platform, the membership currency for the ecosystem, which can be used to access numerous AI-related services across the platform.

Twitter Changes Logo to Shiba Inu – Effect on Cryptofutures

As is known, this Monday, Twitter changed the blue bird logo on the home page and the loading screen of the website with an image of the Shiba Inu dog. This caused many to associate the image with the Dogecoin cryptocurrency, after which the market underwent a huge turnaround.

Specifically, futures that track the popular Dogecoin cryptocurrency saw a liquidation of $32.90 million within 24 hours of this change, a move not commonly seen, as Coinglass explained. Longs, back bets, shorts, and best lays were affected almost equally. Of those, longs experienced $14.41 million in liquidation, while shorts experienced $18.49 million. The number of unsettled futures contracts increased to $580 million.

The event, while only limited to users geographically located in Europe or the United States, showcased the overall appeal and usefulness of futures trading, where AltSignals can provide a lot of value.

It is clear that the Blockchain space has seen a high level of utility. The most recent event of Dogecoin futures liquidations reaching $32.90 million is an indication that a large market is in place and that cryptocurrency enthusiasts are here to stay, even despite a bearish start to the year.

ASI Token as Solid Investment Opportunity

Not only will the ASI token power the artificial intelligence capabilities of the revolutionary AltSignals algorithm, but it also has the ability to develop a suite of tools and insights, all of which implement Natural Language Processing (NLP) and sentiment analysis.

Many factors must be taken into account, including how much investors believe in the future of artificial intelligence (AI) and the tools that use it, to how much future trading of futures or other markets may occur.

With the growing interest in AI and the general appeal of trading cryptocurrencies due to their volatility, getting the right predictions can benefit millions of traders around the world, increasing the overall appeal and utility of AltSignals. As more traders and investors begin to accumulate ASI, its utility and value will increase.

By Audy Castaneda

Elon Musk Changes Twitter’s Logo with that of the Dogecoin Cryptocurrency and Its Value Mounts

Marina Meza
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<strong>Elon Musk Changes Twitter’s Logo with that of the Dogecoin Cryptocurrency and Its Value Mounts</strong>

The American billionaire Elon Musk Twitter’s owner has driven his latest eccentric maneuver replacing the social network’s famous Blue Bird logo with a drawing of a dog. But it is not just any dog; it is the Dogecoin logo, a cryptocurrency that was born as a joke in 2013, but whose value has come to exceed 40 billion dollars.

This change is added to the list of eccentricities shown by Musk since he took control of Twitter -in February when he changed the network’s algorithm so that his personal account publications were seen more often; the Tesla founder posted on his Twitter profile a screenshot of a conversation with another user of the social network last year, in which the latter invited him to buy Twitter and change the logo for the image of the dog.” As promised,” he accompanied the text of the image, thus confirming that this change was not due to a hack.

Markets Reaction to this unexpected Change

The markets’ reaction to this unusual change reflects well the volatility of the crypto world as the digital currency went from trading at seven cents around 6.00 pm this Monday to soaring more than 30%, up to 10 cents at 9.00 pm.

The momentum continued this Tuesday, and by mid-morning, the cryptocurrency was advancing more than 27%. With this advance, the cryptocurrency has seen an increase in its value by more than 35% in the last seven days.

However, the unprecedented rise in the currency’s price began hours before the logo was changed, with movements of tens of millions of dollars by large portfolios controlled by large holders. This unusual flow has raised suspicions that behind this phenomenon there is a speculative movement that goes beyond a market reaction to a logo change in the social network.

Musk’s unexpected Maneuvers

This is not the first time, Musk has shaken the markets with a move on social networks, as he caused the dogecoin to skyrocket after a tweet in early 2021, “One word: Doge”. For this kind of maneuvering, the billionaire was sued in June last year by dogecoin investors, they ask him for $258 billion for having created a pyramid scheme to skyrocket the price of the currency. Musk requested last Friday that the indictment be dismissed, according to Reuters.

Dogecoin, created by software engineers Billy Markus and Jackson Palmer, is based on the Doge meme, which became popular in late 2013 and depicts a Shiba Inu dog that has as a sole prerogative being a fun alternative to Bitcoin, the cryptocurrency quickly gained followers, and its total value reached $48 billion in April 2021, after soaring 180%.

Although there have been recent financial events such as the failure of Silicon Valley Bank and the Credit Suisse bailout, they have brought digital currencies back to investors’ consideration.

Bitcoin has been revalued by around 70% so far this year on the idea that rates will rise more slowly, and it has shown to be the best-performing asset to this point in 2023.

By Marina Meza

Stacks [STX] Gains New Investor Attention: Will Its Uptrend Last?

Audy Castañeda
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<strong>Stacks [STX] Gains New Investor Attention: Will Its Uptrend Last?</strong>

Stacks’ social metrics increased, leading to a price hike. Buyers and sellers are in a heated bit for control.

As a new week begins, investors have taken note of assets that have not received attention in the past seven days. Stacks [STX], the Bitcoin [BTC] layer for smart contracts, was one such token, as noted by LunarCrush.

According to the social intelligence provider for the crypto industry, social interactions, mentions, and dominance of Stacks increased by more than 100% in the last 24 hours. This walk meant that community interaction, discussion, and traction were at significantly high levels from a social viewpoint.

It should be remembered that STX is the native cryptocurrency used to power the Stacks Blockchain, and it is currently the 67th largest cryptocurrency by market capitalization. STX tokens are used to pay transaction fees and the STX cryptocurrency is also frequently traded by members of the Stacks community.

Combat between the Nos and the Yes

Although the rise had dimmed somewhat, the sentiment around the token was trending upwards. An in-depth evaluation of LunarCrush showed that bullish sentiment had increased by 95%, between April 2 and today.

However, the average bearish sentiment also had a similar trend. The metric specifically looked at posts suggesting cynicism over time. Thus, STX was still subject to a negative image, despite its 316% price increase in 90 days.

STX rode with the expectations of the bulls, rising 3.82% in the last 24 hours. According to the daily chart, the 20 EMA, which had crossed the 50 EMA on January 23, held the same position today. This stance implied that traders were bullish on STX and that the cryptocurrency had the potential to establish a new uptrend.

Additionally, the moving average convergence divergence (MACD) showed a different trend than the EMAs. The MACD condition, so far, showed the orange dynamic lines rising above the blue ones. Another notable part of the MACD trend was how it crossed the signal line to the downward path. Therefore, this could serve as a confirmation of the corresponding downtrend.

TVL Riding the Downtrend

In addition to its price action, there has been a significant change in the Total Value Locked (TVL) of Stacks. The TVL measures the number of unique smart contract deposits in a protocol. As of March 25, Stacks’ TVL was on a rapid increase. Content publisher Emperor Osmo tweeted the following:

“Despite losing 22% for the week, $STX TVL is still smashing all-time highs. The Nakamoto upgrade should take @Stacks to the next level.”

However, since March 26, the value has dropped significantly, reaching a low of $25.5 million. This decrease implies that Stacks was beginning to lack usability among investors. Furthermore, these participants were no longer willing to lock up assets in the contracts linked to the project.

Apparently, however, STX was still a top choice for traders, mainly in part due to its 230% volume increase in 24 hours. Such a high rate meant that a lot of buying and selling was going on with the token at the time this news broke.

By Audy Castaneda

Cryptocurrencies with Best Projections for April 2023

Audy Castañeda
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<strong>Cryptocurrencies with Best Projections for April 2023</strong>

Ethereum (ETH) PancakeSwap (CAKE) and iExec RLC (RLC) will undergo network upgrades. EOS will launch its Ethereum Virtual Machine. IoTex (IOTX) hard fork is coming up soon.

BeInCrypto offers an analysis of the best-projected cryptocurrencies for April 2023, as well as developments surrounding their respective projects.

The top 5 altcoins to watch out for in the crypto market during the month of April 2023 are as follows: Ethereum (ETH), PancakeSwap (CAKE), and iExec RLC (RLC) will launch network upgrades.

In another vein, EOS will launch its Ethereum Virtual Machine (EVM), while IoTeX (IOTX) will experience a hard fork.

Below are the details.

Ethereum (ETH): Shapella Update Release

The Shapella update is expected on the Ethereum network in epoch 194048, scheduled for April 12. It will allow validators to withdraw their staking from the Beacon Chain back to the execution layer. This could cause a large amount of ETH to become unblocked.

Ethereum’s price movement looks decidedly bullish as the price has risen rapidly since March 10, and recaptured the $1,700 support area on March 17, successfully validating it as support 10 days later. On the other hand, the daily RSI broke its bearish divergence trend line and moved above 50.

If the increase continues, the price of ETH could move toward $2,000. However, a close below $1,700 will undo the bullish structure, causing a drop to the support of $1,450.

PancakeSwap (CAKE) v3: Release in April

The launch is scheduled for the first week of April. Early supporters will receive a share of the $135,000 airdrop that comes with it. V3 will offer better trading fees, yield farming, and improved liquidity provision.

If the utility token goes up or down, it could determine the future trend in the crypto market. A break would likely cause a drop to $3.20, while a move upwards could cause a rally to $4.70.

iExec RLC (RLC): Release Update v8

The update is expected to be faster and massively scalable, allowing for a large number of computations on large files. The RLC price drifted below the $1.55 horizontal area on March 10, though it rallied shortly thereafter.

If the current rise continues, the RLC price could move to the $2.55 resistance area. However, if the price of the cryptocurrency closes below $1.55, it could drop to the ascending support line at $1.20.

EOS: Launch of the Ethereum Virtual Machine (EVM)

The EVM, which is scheduled to launch on April 14, will boast over 800 swaps per second, immediately making it the highest-performing EVM available.

The EOS price has been following a descending resistance line since August 2022. If it breaks, it could quickly move to the next resistance at $1.50. However, if the altcoin’s price is rejected again, a drop to the short-term ascending support line at $0.96 could follow.

(IOTX): Hard Fork Implementation

The IoTeX hard fork is expected to be released today, April 4. It will fire at block height 22,991,401. The IOTX price bounced off the $0.022 horizontal support area on March 10, rising ever since.

 If the bullish move continues, the price could rally to the descending long-term resistance line at $0.030. If, on the contrary, the digital currency closes below $0.022, it could fall to a new all-time low.

By Audy Castaneda

Cryptocurrencies Stagnant in Spain: Value of Operations Falls by 6%

Audy Castañeda
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<strong>Cryptocurrencies Stagnant in Spain: Value of Operations Falls by 6%</strong>

According to EAE Business School, the value of the transactions fell to 368 million euros in 2022.

A study published this Monday by EAE Business School indicates that the cryptocurrency sector slowed down in 2022. This has occurred after strong growth in the sector in 2020 worldwide, with a rise of 478%, followed by an increase of 45% in 2021.

The cryptocurrency market, says the report, entitled “The fintech industry, new trends in the financial sector”, has fallen by 6% in Spain, with 368 million euros in value of operations carried out in 2022. Said stagnation extended to other European countries, such as Germany, France, and the Netherlands, in the same percentages; meanwhile, in Russia, the use of digital currencies has fallen by 10%.

In non-European countries, however, between 2021 and 2022, the value of these transactions increased by 40% in Vietnam, followed by Brazil (37%, Mexico (34%), Indonesia (32%), and India (30%). Other statistics suggest that the leaders in the cryptocurrency market were the US, India, Japan, the United Kingdom, and South Korea.

One of the authors of the study, EAE Business School professor and Director of the Master in Management & STEM Dorina Nicoara-Popescu, explains what happened in the following terms:

“There have been several key elements in the evolution of the cryptocurrency and the Blockchain sector in the last year. The first has been the fall of Bitcoin, the dominant cryptocurrency, from $47,300 to $23,600 in 2022, which affected the entire market; secondly, the bankruptcy of the FTX exchange decreased confidence in this market because it had been one of the main cryptocurrency exchange providers, and it collapsed in November last year.”

Digital Payment Growth

The study, which analyzes the evolution of the fintech sector, also addresses the development of digital payment, which includes all companies that offer payment services through electronic devices without the need for a bank card, such as mobile payment, contactless, QR codes, or Click2Pay. In this sense, Spain ranked 13th in the world in 2022 by the volume of transactions carried out through digital payment, with a total of 70 million euros in 2022.

In fact, the report notes, “high interest” in integrated payments has continued to grow throughout 2022, covering a wide range of industries, from retail and e-commerce to gaming and shared mobility services.

Other Fintech Trends

EAE Business School points out that fintech companies offer a variety of financial services ranging from payments and electronic transfers to loans, financing, investment management, insurance, or cryptocurrencies. “Through the use of technology and access to information about potential customers, the business model employed by fintech allows the creation of more personalized products at a lower cost and, consequently, greater efficiency,” the study analyzes.

In alternative financing, crowdfunding is one of the most popular instruments. At the end of 2022, the countries that led the crowdfunding market by transaction value were the US (410 million euros) and Japan (146 million euros). Spain occupies the 12th position with 7.8 million euros.

By Audy Castaneda

Bitcoin as King of the First Year Quarter in Worldwide Markets

Marina Meza
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<strong>Bitcoin as King of the First Year Quarter in Worldwide Markets</strong>

No one would believe if someone had said in projections for 2023 that at this point in the year, the first cryptocurrency on the market would lead the global advances, above indicators and ETFs, but conditions and investors have made it possible for it to become the King of financial markets worldwide.

Bitcoin as a “Safe Haven”

Bitcoin as a “safe haven” is one of the premises that have marked these first three months of the year in the financial markets, which, on account by banks, and against all expectations, have boosted Bitcoin to the top of the quarterly revaluations, in its best performance since June 2022, with an advance that has reached no less than $29,100 per asset.

The reasons have been already analyzed throughout these three months that have sounded truthfully good for Bitcoin and among the major cryptoassets. It has accomplished presence in the market, because one of the factors of its improvement is that, facing the fear unleashed since last March 10th, it has strengthened against the most volatile virtual currencies in which investors have less confidence.

A change that has also clearly been favored by factors such as lower earnings expectations in other areas, and by a Federal Reserve that, on account of the financial sector, has lifted its foot off the accelerator in rate hikes, which has greatly favored the asset.

The first quarter was very productive for Bitcoin with gains of more than 21%, in comparison with other indicators and assets such as gold.

Premium Strength Indicators prepared by Investment Strategies showed that Bitcoin has gone from neutral to strong, with medium-term remaining strong and even a very strong long-term, so, this means that its value will possibly continue to rise. In terms of trading, it needs to start breaking resistances and buying on supports, while the accumulation of excesses and low figures are seen as the present risk it holds.

Bitcoin in a Strong Position and Gaining Ground among Cryptocurrencies

In this sense, Cathie Wood one of Bitcoin’s loyal defenders has pointed out on YouTube that Bitcoin’s position now has once again made it continues to show its role as a stock of value, in its cryptographic mode, that its price will grow continuously, in what she also considers to be exponential in the future.

In recent days, venture capitalist Tim Draper has also been in favor of Bitcoin and has stressed that its price will reach $250,000 because he considers it one of the most important events in the markets. He has predicted that it could reach that price as early as June of this year, but now he says he is extending the possibility a little further.

What is clear is that Bitcoin is now in a strong position, as opposed to the negative drag that came with the FTX stock market collapse. It is a bet that many understand by what is known as “alternative money”.

As a closing statement, Bitcoin is gaining ground again among cryptocurrencies since its growth represents a presence of 44. 6% of the total values that now quantity to 1.23 billion dollars on a global basis.

By Marina Meza

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