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Will Cardano, Pioneering AI Meme Icon Raboo Or Ondo Be Crowned August’s Top Performer?

By
TI Partners
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0

It’s the month of August and the question is which coin will be crowned the best performer in the month between Cardano, Raboo ($RABT) or Ondo. While Cardano and Ondo are currently trading red, things could possibly turn around before the end of the month. Raboo, however, has already proven that only good things can happen. Although the AI meme coin is yet to launch it has already provided a means to earn. Its growth is another proof of great possibilities. Raboo can potentially be placed among the top cryptocurrencies of 2024 if it continues in this direction.

Cardano starts the month with a price drop

Over the previous four months, Cardano (ADA) has seen a significant decrease. From its peak in March, its price had fallen to a low of $0.4479 by April, and then by 18% more to its current price of $0.374. This precipitous drop demonstrates the persistently pessimistic market attitude. Cardano has recently seen some improvement, but it is still well below its previous highs. The increasing negative funding rates indicate that top trading platforms such as OKX and Binance are still under significant selling pressure. These rates imply that the trend is still bearish.

Technical indicators, meanwhile, show Cardano’s future prospects poorly. The price has fallen 2.82%, and there is a chance that price drops will continue if nothing changes. Cardano price is trading below the 200-day and 50-day exponential moving averages (EMA), exhibiting a sequence of lower highs and lows. The critical support level is approximately $0.30. Should bears have the upper hand, ADA might drop to its annual low of $0.3165 and from its ranking in the top 20 cryptocurrencies of 2024.

Ondo continues on a downward trend

In the past, Ondo’s yield-generating stablecoin, USDY, and lending platform, Flux Finance, have drawn in investors and holders. Ondo gained recognition in the cryptocurrency sector by expanding access to interest in cryptocurrencies through financing and stablecoin offerings.

Nevertheless, despite the current surge in interest in DeFi, the price of the Ondo cryptocurrency coin has dropped by 7.3% over the last week and 8.75% in the last 24 hours. Ondo is now trading at $0.8743. Analysts claim that from the beginning of June, Ondo price charts have displayed a slide beneath descending resistance, which culminated in a $0.86 low earlier this month and led Ondo to break out of the $0.95 horizontal area.

Raboo’s potential ROI attracts more investors

Raboo has been the most talked-about meme coin in the cryptocurrency space. Raboo is a  new meme coin that seeks to unite knowledgeable cryptocurrency investors as well as crypto newbies. Its objective is to build a community where meme coin enthusiasts can profit from their content and receive incentives for participating in various activities. The community is designed to help you network with industry experts to gain knowledge about the meme sector, making it a great place for beginners to begin their crypto journey.

Raboo has enormous value. This presale cryptocurrency’s starting value was $0.003, which has greatly increased since, as $RABT tokens now sell for $0.0048 in the 4th stage of its presale. This price will increase even further post launch. Experts estimate that the coin’s price will rise by 233% during its current presale, demonstrating the enormous potential of this coin.

There are now over 3,000 Raboo token holders, and more than $2 million has been raised. It is predicted that this coin will soon lead the meme coin market and place among the top 20, and there are many indicators in favor of this assertion.

Conclusion

Several coins are in the race to be crowned August’s top performer, these include Cardano and Ondo. While they are both popular coins, on the top of the list right now is Raboo, a new meme coin still in its presale. Now is the ideal time to purchase this coin. It is guaranteed to provide a superior return on investment compared to many other options.

 

You can participate in the Raboo presale here:

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

Traders Lose All Hope in Dogecoin (DOGE) and Ethena (ENA): Capital Shifting to AI Token Algotech

By
TI Partners
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0

In recent market developments, traders are rapidly losing confidence in Dogecoin (DOGE) and Ethena (ENA) as both cryptocurrencies experience significant declines. The shift in investor sentiment is driven by concerns over long-term viability and lackluster performance.

Meanwhile, capital is increasingly being redirected towards Algotech, a promising AI token showing robust growth and innovative potential. This transition marks a notable trend in the crypto landscape, reflecting a preference for more technologically advanced and reliable assets.

In this article, we will discuss the factors influencing this shift and what it means for the future.

Dogecoin price struggles amid consolidation, Signals potential rebound

The struggle for the price of Dogecoin (DOGE) has continued as the meme coin consolidates alongside the broader market. Despite this, there are signals hinting at a potential rebound.

According to data from IntoTheBlock, 75% of Dogecoin (DOGE) holders are in profit at current price levels. It’s astonishing to see that a majority of holders have avoided losses during a period lacking major movements for the coin. This is a major bullish signal, revealing that the overall situation is not too bleak.

Dogecoin (DOGE), the largest meme coin in terms of market capitalization, always enjoys strong support from its community. The increasing holder profitability will eventually give more confidence to Dogecoin (DOGE) holders. It may also encourage more traders to jump on the Dogecoin (DOGE) bandwagon, potentially leading to significant profits.

Most importantly, this metric highlights that Dogecoin (DOGE) is in a broader bullish trend despite the ongoing consolidation period. The meme coin has not entered a bearish run as it is still holding well above key support levels. The current stagnant phase is a result of broader volatility in the crypto market.

Dogecoin price outlook

As of this writing, Dogecoin (DOGE) is trading at $0.1211, after a dip of 3.94% in the last 24 hours. It appears to be facing strong resistance at the $0.127 level, having faced rejection from this price zone several times recently. However, the overall outlook remains not too bearish.

Dogecoin (DOGE) has seen a surge of 10.77% in its trading volume over the last 24 hours, currently standing at the $675.66 million level. This rising volume reflects growing participation from traders. Rising trading activity often indicates confidence in the market, suggesting that the Dogecoin price may rebound amid strong support from traders.

Ethena (ENA) faces resistance at $0.40 as market volatility persists

Ethena (ENA) fell 14%, hitting resistance and raising concerns about its future. After recovering 50% from a July low of $0.34, ENA faced resistance on July 24, prompting a downturn to $0.40. This level is crucial for determining Ethena (ENA)’s trajectory.

Ethena (ENA) Labs’ upcoming USDe rewards program on Bybit offers up to 20% APR, potentially boosting Ethena (ENA) demand as USDe’s utility and adoption grow. Ethena (ENA)’s TVL has surpassed $3.6 billion, indicating significant DeFi growth.

Ethena (ENA)’s price analysis shows a bearish trend with a potential for bullish reversal if support at $0.40 holds. A bullish scenario could see Ethena (ENA) reaching $0.70, while a bearish scenario might lead to a decline towards $0.25. The outcome hinges on price action at $0.40.

Traders shift focus to Algotech as Dogecoin and Ethena falter

As traders lose hope in Dogecoin (DOGE) and Ethena (ENA), they are shifting their capital to the promising AI token Algotech.

Algotech is an innovative project nearing the end of its presale phase, aiming to revolutionize crypto trading by leveraging cutting-edge algorithms, artificial intelligence, and machine learning.

The Algotech (ALGT) presale has successfully secured an impressive $9.8 million. With the presale drawing to a close, excitement mounts among early supporters and potential investors.

BitMart, a well-known cryptocurrency exchange, recently boosted the project’s credibility by announcing its intention to add Algotech (ALGT) to its listings. This move is expected to enhance the token’s market presence and liquidity, further increasing optimism about the project’s future success.

Algotech (ALGT) stands out due to its significant investment in cutting-edge hardware. With $1.2 million earmarked for the purchase of H100 GPUs, the company aims to boost the speed, accuracy, and overall capabilities of its AI-driven trading system.

For more details about Algotech:

Visit Algotech Presale

Join The Algotech Community

3 Altcoins Investors Are Betting On Amid Saylor’s Bitcoin Forecast: EOS, Celestia and DTX Exchange

By
TI Partners
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0

Michael Saylor, the CEO of MicroStrategy, is a huge Bitcoin maximalist. At the 2024 Bitcoin 2024 in Nashville, he suggested BTC’s market cap could reach $280 trillion by 2045. In a recent post on X (formerly Twitter), he predicted the flagship crypto would hit $13 million or $49 million in a base or bull scenario.

Inspired by this forecast, the altcoins investors are betting big on are EOS (EOS), Celestia (TIA) and DTX Exchange (DTX). These cryptocurrencies are compelling for both the short and long term, which explains why they are top picks.

DTX Exchange (DTX): A New Altcoin With Immense Potential

DTX Exchange (DTX), a low-cap gem and an up-and-coming crypto, kicks off this list. Its potential is largely unmatched given its novelty, ahead of top altcoins like EOS and Celestia. The presale is ongoing and currently in the second round, presenting investors with the opportunity to become early adopters.

A token is competitively priced at $0.04, with its low entry point representing one of its appeals. Industry experts are optimistic about its future adoption and project a significant 100x upswing after its market debut. This partly explains the presale frenzy, with $1.2 million raised so far.

One of the key factors expected to propel its growth is its potential transformation of the global trading market. It stands at the crossroads between TradFi and DeFi as a hybrid trading platform—a blend of the best elements of CEX and DEX. Users can trade a variety of asset classes and enjoy up to 1,000x leverage without KYC requirements.

EOS (EOS): Rally Past $1 in the Near Term

EOS (EOS) is an open-source blockchain platform. It prioritizes high performance, security, flexibility and developer experience, which makes it a favorite destination for projects. Its almost fee-less transactions further add to its appeal, hinting at massive future adoption.

Given the significant decline from its all-time high (ATH) of $22.89 registered in 2018 (over 90%), the EOS price is in an attractive buy zone. It can only go up from here, with investors doubling down as a result.

According to a popular EOS price prediction, it will reclaim its peak price at the peak of this bull run. In the near term, a jump past $1 is anticipated before the end of quarter three, placing EOS crypto on the list of best coins to invest in.

Celestia (TIA): $30 Before the Year’s End

Celestia (TIA) is a modular blockchain network that allows, with minimal overhead, the deployment of blockchains. It doesn’t impose any execution or settlement constraints, which unlocks new, unrealized possibilities for developers and builders.

It had an impressive first quarter, like most cryptocurrencies, registering an all-time high of $20.91 in February. While there has been a significant decline from its peak price, it presents a good entry point for investors. Analysts predict a rally past $30 before the year’s end, making Celestia crypto an altcoin to watch.

Besides its near-term outlook, a jump past $100 isn’t out of the question next year. The growing adoption of the Celestia blockchain, not to mention its vibrant community, will undoubtedly set it up for massive growth.

Conclusion

The three altcoins that investors have been stacking up amid Michael Saylor’s bullish BTC forecast are EOS, Celestia and DTX Exchange. Their unique value proposition and future adoption paint a promising picture, making them must-have coins. For an opportunity to become an early member of a vibrant community while also positioning for substantial gains, we recommend checking out the DTX presale.

Visit the official DTX Exchange (DTX) website  for the latest updates and information.

Nigeria’s Currency in Circulation Reaches Historic High at N4.05trn: Economists Finger PoS Operation

By
Samuel Nwite
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0

Nigeria’s economy is witnessing an unprecedented surge in the currency in circulation (CIC), which reached an all-time high of N4.05 trillion in June 2024, according to the latest data from the Central Bank of Nigeria (CBN). This represents a significant 56% increase from N2.6 trillion in the same month last year, marking the first time Nigeria’s CIC has exceeded the N4 trillion mark.

The CIC comprises the currency outside the banking system and the vault cash of banks. This surge has been particularly notable, with a month-on-month (MoM) growth rate of 2%, from N3.65 trillion recorded in May 2024. Notably, about 94% of the currency in circulation is reportedly outside the banking system, as cash outside banks hit a new high of N3.79 trillion. The currency outside banks has more than quadrupled over the past year, a situation attributed to the growing PoS operations.

What the Data is Saying

The data from the CBN provides a comprehensive overview of the trend:

In January 2024, Nigeria’s currency in circulation was N3.65 trillion, a 163% increase from N1.39 trillion in January 2023. The currency outside banks similarly increased by 314%, from N792.18 billion in January 2023 to N3.28 trillion in January 2024.

February 2024 saw a continuation of this trend, with currency in circulation climbing by 276% to N3.69 trillion, compared to N982.1 billion in February of the previous year. The currency outside banks reached N3.41 trillion, a 304.7% rise from N843.31 billion in February 2023.

In March 2024, the currency in circulation rose to N3.87 trillion, up from N1.68 trillion in the same month of 2023, indicating a year-on-year growth of 129.8%. The currency outside banks increased to N3.63 trillion from N1.45 trillion in March 2023, a 151.1% rise.

The trend continued into April 2024, with the currency in circulation increasing to N3.92 trillion, a 64.9% year-on-year rise from N2.38 trillion in April 2023. The currency outside banks also saw an increase, reaching N3.61 trillion from N2.08 trillion the previous year, a 73.4% growth.

May 2024 followed suit with the currency in circulation reaching N3.97 trillion, a 56.9% increase from N2.53 trillion in the previous year. The currency outside banks rose to N3.71 trillion from N2.18 trillion in May 2023, marking a 70.4% growth.

June 2024 marked a historic milestone as the currency in circulation surpassed N4 trillion for the first time, reaching N4.05 trillion. The currency outside banks also saw an increase, reaching a new high of N3.79 trillion from N2.26 trillion in the same month of the previous year, representing a 67.5% rise.

These figures highlight the continued expansion in liquidity and a shift in the cash circulation method.

Economists Raise Alarms Over PoS Operations and Cash Hoarding

Financial experts have expressed deep concerns over this rising trend of cash hoarding, which is largely attributed to the proliferation of Point-of-Sale (PoS) services. While these services have made financial transactions more accessible, especially in remote and underserved areas, they have also led to a significant portion of the country’s cash flow being held outside traditional banking systems.

The convenience of PoS transactions has inadvertently contributed to the growing issue of empty ATMs, forcing more people to withdraw cash from these terminals rather than banks.

“POS can’t take over function of cash deposits and withdrawal from licensed commercial and microfinance banks. Come on!! Is this even a debate? Are we so debased in expectations of service that licensed trillion naira banks with billions of naira investment in retail branches and ATMs have no cash but a chap with an umbrella down the street has cash?” Economist, Kalu Aja, lamented.

Compounding The Inflationary Pressures

The implications of this cash hoarding have become concerning especially as Nigeria’s ongoing battle with inflation intensifies. The headline inflation rate soared from 33.95% in May 2024 to 34.19% in June, a stark increase from the 22.79% rate recorded in June 2023. The month-on-month increase of 0.17 percentage points from May 2024’s 2.14% rate to June’s 2.31% highlights the persistent upward pressure on prices.

Against this backdrop, economists warn that the high levels of currency in circulation, particularly outside the banking system, could see inflationary pressures thickening in the coming months. This situation is especially concerning given the current economic conditions, where the Monetary Policy Committee (MPC) has been increasing the MPR as part of measures aimed at controlling inflation.

With inflationary pressures gaining momentum, analysts warn that Nigeria may see a further increase in inflation rates if the growth in money supply is not matched by a corresponding increase in production. This, they warn, will further erode purchasing power and impact the cost of living, particularly for lower-income households.

There are growing calls for strategic policy responses as the economic headwinds escalate. Financial experts suggest that addressing the root causes of cash hoarding and improving the efficiency of cash flow within the economy are crucial steps. This includes enhancing the infrastructure and reliability of traditional banking services, as well as promoting digital financial inclusion to reduce the reliance on physical cash.

Flutterwave Gains Ground in Ghana with Enhanced Payment Service Provider License

By
Ojukwu Emmanuel
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0

Flutterwave, a leading payments technology company, has recently been granted a Payment Service Provider license (Enhanced Category) by the Bank of Ghana.

The milestone marks a significant expansion of Flutterwave’s operations in Africa, enabling the company to offer a comprehensive suite of payment services directly within, and through Ghana.

Ghana presents an exciting market for Flutterwave’s innovative solutions. With a stable democracy, a tech-savvy youth population, and a high mobile internet penetration rate of 71%, Ghana is well positioned for rapid digital adoption. The country’s digital payments market is projected to reach $7 billion in 2024, with an anticipated growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028.

For potential customers in Ghana, Flutterwave’s license translates to more seamless and secure money transfers across the country. Businesses will benefit from direct collection and payout services, automated invoicing, payment links, and a checkout solution that supports multiple payment methods including cards, mobile money, and bank transfers.

Commenting on the license approval, Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave said,

“When we started this journey, our goal was to unite the fragmented payment infrastructure in Africa, and securing this license in Ghana brings us a step closer to achieving that mission. At Flutterwave, we are committed to using our platform to promote economic growth to the nation, while also providing unparalleled service to all our prospective customers in Ghana and in the diaspora “

The Payment Service Provider license (Enhanced Category) allows Flutterwave to operate without the need for third-party services, streamlining payment processes for businesses and customers alike. The Enhanced Category license further empowers Flutterwave to support other licensed fintech companies in Ghana by providing essential payment services, ultimately promoting a more integrated and efficient financial ecosystem.

Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, said,

“We are grateful to the Bank of Ghana for their trust and support in granting us this license. This milestone highlights our commitment to regulatory compliance and delivering secure, reliable payment solutions. We are excited to contribute to Ghana’s dynamic business ecosystem and support the financial inclusion of Ghanaians, both locally and globally.”

About Flutterwave
Flutterwave is the leading payments technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API). Flutterwave has processed over 630M transactions in excess of USD $31B and serves more than 1.5m businesses, including customers like Uber, Air Peace, Bamboo, PiggyVest, and others. The company’s key advantage is connecting businesses to various local and international payment types to enable them to expand globally.

It also enables cross-border transactions from the diaspora to African countries via its SendApp product. Flutterwave processes payments via multiple payment modes, including local and international cards, mobile wallets, bank transfers, and Google Pay. The company has an infrastructure reach in 34 African countries.

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