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Crypto Market Leap: BlockDAG Lies Ahead of Monero & Notcoin By 1300% Growth in Coin Value Extending Lucrative Income Source

By
TI Partners
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0

While Notcoin’s 10% rise during token burns and an incentive plan highlights its growth, Monero’s 16% weekly gain emphasises its commitment to transaction privacy. Despite these notable developments, their surges pale compared to BlockDAG’s remarkable 1300% growth.

BlockDAG‘s innovative approach, combining blockchain security with Directed Acyclic Graph (DAG) technology, has significantly boosted its transaction capacity and network efficiency. This has driven substantial investment, raising $54.9 million and positioning BlockDAG as a leader in the crypto market. With expert predictions targeting $10 by 2025, BlockDAG stands out as the best crypto to invest in for 2024.

Notcoin Climbs 10% with Token Burn and Incentive Plan

Notcoin has seen a 10% increase in value following a recent token burn and the announcement of a $4.2 million incentive plan. This growth reflects strategic moves to reduce the total supply and incentivise ecosystem participation. The token burn aims to enhance scarcity, while the incentive plan seeks to attract more users and developers. This measured approach highlights Notcoin’s commitment to long-term value creation without resorting to overhyped promotional tactics.

Monero (XMR) Sees Weekly Gain, Eyes Bigger Mark

Founded in 2014, Monero is a notable player in the cryptocurrency landscape, driven by its CryptoNote system prioritising privacy. Monero (XMR) has experienced a 16% spike in its weekly charts, raising its value to $178. Known for its strong emphasis on transaction privacy, Monero maintains a significant market capitalisation. Monero’s performance shows resilience with this trade activity despite broader market trends. Experts predict that Monero could reach $200 in the bull market.

BlockDAG Gains 1300% Surge Amid Mining Popularity

BlockDAG has seen an impressive 1300% growth, gaining popularity for innovative advanced technology. By merging blockchain security with the speed of Directed Acyclic Graph (DAG) technology, BlockDAG significantly enhances transaction capacity and network throughput. This innovative structure has made BlockDAG an attractive choice for crypto enthusiasts seeking efficiency and scalability.

BlockDAG’s crypto mining machines are Central to this success, which offer lucrative passive income opportunities. The X series includes the X10, X30, and X100 miners, designed for various scales and efficiency levels. The X10, with a 100 MH/s hash rate, is perfect for beginners, yielding up to 200 BDAG daily. The X30, offering 280 GH/s, caters to more experienced miners, while the X100, boasting a 2 TH/s hash rate, is ideal for large-scale operations, producing up to 2000 BDAG daily. These miners facilitate significant passive income and offer easy resale options, enhancing the financial appeal.

Since its launch, BlockDAG’s coin price has surged to $0.014, marking a dramatic 1300% increase. This growth is fueled by the robust performance of its mining operations and strong backing from the cryptocurrency community. As of the latest Batch 19, BlockDAG has raised $54.9 million, highlighting the growing investor confidence.

BlockDAG’s target price of $0.05 per coin at launch suggests vast investment opportunities. BlockDAG’s ongoing expansion and technological advancements position it as a leader in the crypto market. Predictions indicate that BlockDAG could reach $10 by 2025, reflecting its significant growth potential and market leadership.

Final Words

Notcoin’s strategic moves and Monero’s privacy-focused surge highlight their market impact. However, BlockDAG stands out with its 1300% growth, marking $54.9M presale success, driven by innovative mining capabilities and robust investor confidence. Unlike other coins, BlockDAG’s unique blend of blockchain security and DAG technology offers unparalleled efficiency and scalability. With promising price predictions of reaching $10 by 2025 and substantial passive income opportunities from its X mining series, BlockDAG emerges as the top choice for crypto investors seeking high returns and market leadership.

Join the BlockDAG Presale Now:

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetwork

Discord: https://discord.gg/Q7BxghMVyu

Investors Shift to BlockDAG’s $54.9M Presale—Is Chainlink and Dogwifhat’s Time Up?

By
TI Partners
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0

June 2024 reveals a vibrant investment landscape in cryptocurrency, showcasing changing investor interests and varying asset performances. Despite an optimistic outlook for Chainlink due to a potential price rise, BlockDAG has drawn significant attention following its impactful Keynote 2 from the moon.

This event propelled its presale success to an impressive $54.9 million, with over 11.9 billion coins sold and more than 8,177 miners involved. Meanwhile, Dogwifhat faces a prolonged downtrend, making a market recovery increasingly unlikely. Amid these changes, BlockDAG stands out as the top choice for investors seeking high returns.

Evaluating Chainlink’s Future Prospects

Chainlink supporters are optimistic, anticipating a potential market breakout within the next month. Despite challenging market conditions, the outlook for LINK remains positive. Analysts are closely monitoring metrics like the Relative Strength Index (RSI) and social media engagement to predict the next trend, which could be bullish. The growing number of active Chainlink addresses highlights a positive market sentiment.

Chainlink’s reputation for reliable and secure decentralized oracle services boosts its appeal. Additionally, its partnerships with major corporations like Google and Oracle strengthen its market position. These factors suggest that the upcoming month could be crucial for Chainlink’s growth.

Dogwifhat Faces Persistent Market Challenges

Dogwifhat (WIF), a meme coin on Solana, is experiencing a continuous decline, with many investors pulling out of long positions and avoiding new shorts. Recent weeks have seen a sharp drop in Dogwifhat’s value, negatively affecting its overall market capitalization. Despite an increase in trading volume, sentiment remains largely bearish, as indicated by falling RSI levels and decreasing open interest. Analysts remain cautious, predicting further declines unless a market reversal occurs.

BlockDAG’s Impressive Performance After Moon Keynote

BlockDAG’s recent Moon Keynote marked a significant milestone, setting the stage for future advancements and strategies. The presentation outlined several initiatives, including the launch of the X1 mobile miner app and comprehensive global marketing campaigns, positioning BlockDAG at the forefront of blockchain innovation.

This event led to the sale of $54.9 million worth of coins up to batch 19, covering over 11.9 billion coins and generating $3.4 million from more than 8,177 miners. Currently, BlockDAG’s coin price stands at $0.014, a 1300% increase from its starting price of $0.001, with projections to reach $0.05 soon. BlockDAG’s commitment to innovation is evident in their continuous technological upgrades, including 58 development releases and enhancements to the DAG architecture and proof-of-work consensus model.

The introduction of the X10 miner, a compact yet powerful device capable of producing up to 200 BDAG daily with a 100 MH/s hash rate, highlights BlockDAG’s focus on innovation. Initially priced at $10, this device, along with upcoming improvements to the blockchain explorer for better transaction and asset balance visibility, continues to attract investor interest.

Final Say

As June 2024 unfolds, the cryptocurrency market presents various challenges and opportunities. While Chainlink might see a temporary price increase, the ongoing bearish trends around Dogwifhat highlight the obstacles investors face. Conversely, BlockDAG’s remarkable presale success, driven by its latest keynote and ongoing innovation, positions it as a premier investment opportunity in the cryptocurrency market.

 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Mid-Year 2024 Crypto and Memecoins Trading Review

By
Paul Ugbede Godwin
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2

The Crypto and memecoins Trading in June 2024 presented a dynamic and intriguing landscape for investors and enthusiasts alike. As we delve into the mid-year analysis, the market has shown resilience and volatility, indicative of the cryptocurrency domain’s inherent nature.

June has historically been a pivotal month for crypto markets, and 2024 is no exception. With Bitcoin (BTC) prices recovering and Ethereum (ETH) gaining ground, the market sentiment appears cautiously optimistic. The U.S. Securities and Exchange Commission’s unexpected rule change allowing the creation of spot Ethereum exchange-traded funds (ETFs) has been a significant catalyst, fueling investor interest and market momentum.

The approval of the first spot bitcoin ETFs earlier in the year had already set a positive tone, attracting substantial institutional investment. However, regulatory scrutiny continues to intensify, with crypto exchanges and their executives under the spotlight. This has created a dual narrative of opportunity and caution that investors must navigate.

Looking at the performance metrics, Bitcoin’s price trajectory in May, reaching as high as $72,000 before settling below $68,200, reflects a 5.9% gain for the month and an impressive 60% year-to-date increase, apparently at the end of June it fell below $62,000. Ethereum’s performance is equally noteworthy, with a 17.1% rise in May and a 64.1% increase for the year so far. Among the top ten cryptocurrencies by market capitalization, ChainLink (LINK) and Cardano (ADA) have shown divergent paths, with LINK gaining 29% and ADA experiencing a slight decline of 1.8%.

June saw the emergence of several new memecoins, each with its unique appeal and community backing. Among these, Ben the Dog (BENDOG), neversol (NEVER), and GameStop (GME) were notable for their significant potential for gains. BENDOG, inspired by the character from the mobile app “Talking Tom,” saw an impressive price increase, leveraging the high-speed, low-cost Solana blockchain and exploring zkBridge technology for secure inter-blockchain communication.

NEVER, with its community-driven narrative and anti-marketing stance, also made waves in the market. Its mantra, “Never say $never and never sell never,” resonated with a community focused on independence and critical thinking.

The memecoin market is not without its risks, however. Volatility is a hallmark of this asset class, and while the potential for high returns is alluring, it comes with the possibility of equally significant losses. Investors are always reminded that due diligence and risk assessment are crucial before making any investment decisions.

Looking ahead, the second half of 2024 presents several factors that could influence the crypto market. The Federal Reserve’s progress on inflation and potential interest rate cuts, the ongoing scrutiny of crypto exchanges and their executives, and the institutional interest in spot bitcoin ETPs are all pivotal elements that could shape the market’s trajectory.

For those looking to invest in cryptocurrencies and memecoins, the current landscape presents both opportunities and challenges. It is essential to conduct thorough research and consider the potential risks and rewards. The market’s volatility can lead to significant gains but also substantial losses, so a cautious and informed approach is advisable.

The crypto trading outlook for June 2024 reflects a market that is maturing yet still holds many uncertainties. The developments over the past month have set the stage for what could be an exciting second half of the year for cryptocurrencies. As always, staying informed and vigilant will be key for anyone participating in this dynamic market.

Nigeria’s Capital Importation Records 210.16% increase, Surges to $3.37bn in Q1 2024

By
Samuel Nwite
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0

Nigeria has witnessed a remarkable surge in capital importation, recording an impressive 210.16% increase in the first quarter of 2024, according to the latest report from the Nigerian Bureau of Statistics (NBS).

This jump, from $1.08 billion in the last quarter of 2023 to $3.37 billion in the period under review, has caught the attention of both local and international economic observers. According to the NBS capital importation report, this figure also represents a 198.06% rise compared to the corresponding quarter in 2023.

Capital Importation Breakdown

The surge in capital imports is predominantly driven by Portfolio Investment, which accounted for $2.07 billion, representing 61.48% of the total. Other Investments followed with $1.18 billion (34.99%), while Foreign Direct Investment (FDI) trailed with a modest $119.18 million, making up just 3.53% of the total capital importation in Q1 2024.

The Banking sector emerged as the most attractive, pulling in $2.06 billion, or 61.24% of total capital imports. The Trading sector garnered $494.93 million (14.66%), and the Production/Manufacturing sector received $191.92 million (5.68%). Among financial institutions, Stanbic IBTC led the charge with $399 million in capital import inflow, surpassing its full-year total of $384 million in 2023.

Sources and Destinations of Capital

The United Kingdom topped the list of sources for capital importation, contributing $1.81 billion, or 53.49% of the total. This was followed by the Republic of South Africa, which brought in $580 million (17.25%), and the Cayman Islands, with $190 million (5.52%).

Lagos State stood out as the prime destination for these capital inflows, attracting $2.78 billion, which is 82.42% of the total. Abuja (FCT) followed with $590 million (17.58%), while Ekiti State recorded a nominal $0.01 million. Interestingly, only three out of Nigeria’s 36 states, along with the FCT, recorded any capital imports during this period, leaving a significant portion of the country with zero capital inflows in the first quarter.

Financial Institutions Leading the Charge

Stanbic IBTC Bank Plc emerged as the top recipient of capital importation, receiving $1.26 billion, or 37.24% of the total. Citibank Nigeria Limited and Rand Merchant Bank Plc followed, with $0.55 billion (16.22%) and $530 million (15.66%), respectively.

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Reasons Behind the Surge

The dramatic rise in capital imports, particularly in portfolio investments, can be attributed to several key factors. The Central Bank of Nigeria’s (CBN) decision to hike the Monetary Policy Rate (MPR) by 600 basis points and the high returns from Federal Government of Nigeria (FGN) bonds and CBN Treasury bills played a significant role. Investors were drawn to these securities due to their attractive yields, leading to a substantial inflow of short-term capital.

However, the minimal inflow of foreign capital into the real economy through FDI remains a concern. Economist Kalu Aja remarked on the superficial nature of the surge, noting that while the increase in portfolio investments is significant, it does not provide the long-term stability needed for economic resilience.

“But look beyond the headline figure; almost all of the $3b is from short-term investors (Portfolio) seeking the higher yields offered by the Nigerian government (OMO Bills).

“FDI, which is $ flowing to Nigeria to buy tangible assets like land or other assets, is longer-term job inflow and is essentially flat from last year,” he explained.

Aja further emphasized the transient nature of portfolio investments, warning that they can be withdrawn quickly, unlike FDI, which tends to be more stable.

“All inflow is good, but FPI (portfolio) because of its short-term nature, can be pulled out quicker from Nigeria. FDI is more sticky,” he explained, highlighting the risk that quick capital flight poses to the economy.

Considering this argument, the impressive rise in capital importation, though a positive sign in the short term, underscores the need for Nigeria to focus on attracting more stable and long-term investments. To attract and retain FDIs, the government has been advised to create a conducive environment for such investments, moving beyond short-term gains to build a robust and resilient economy through sound fiscal policies.

EU Accuses Meta of Failing to Comply With Antitrust Rules Over Ad-Supported Subscription Service

By
Ojukwu Emmanuel
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0

The European Union (EU), has accused giant tech company Meta, of failing to comply with the Digital Markets Act (DMA) after findings revealed that its ad-supported subscription service, a “pay or consent” model, breached the antitrust rules.

The Commission in its preliminary findings, disclosed that the model forces users to consent to the combination of their data and fails to provide them with a less personalized but equivalent version of Meta’s social networks.

Notably, the Commission takes the preliminary view that Meta’s “pay or consent” advertising model is not compliant with the DMA as it does not meet the requirements.

It highlighted two areas where the model breaches the Anti-trust rules:

  • Does not allow users to opt for a service that uses less of their personal data but is otherwise equivalent to the “personalised ads” based service. 
  • Does not allow users to exercise their right to freely consent to the combination of their personal data.

Recall that Meta introduced the “pay or consent” model in November 2023, whereby EU users of Facebook and Instagram have to choose between two options. The first option which is the subscription for a monthly fee to an ads-free version of these social networks, and the second which is the free-of-charge access to a version of these social networks with personalized ads.

It is worth noting that Meta rolled out this model because they had faced legal issues earlier that same year when the European Data Protection Board (EDPB) issued a binding decision banning the platform’s targeted advertising practices across the EU/EEA.

Meanwhile, in response to the EU’s recent findings, a Meta spokesperson told CNBC that its ad-supported subscription model follows the direction of the highest court in Europe and complies with the DMA.

“We look forward to further constructive dialogue with the European Commission to bring this investigation to a close”, the spokesperson added.

To ensure compliance with the DMA, the EU said that users who do not consent should still get access to an equivalent service that uses less of their data, in this case for the personalization of advertising. Throughout its investigation, the Commission has been coordinating with the relevant data protection authorities.

By sending preliminary findings, the Commission informs Meta of its preliminary view that the company is in breach of the DMA.

Meta now can exercise its rights of defense by examining the documents in the Commission’s investigation file and replying in writing to the Commission’s preliminary findings. The Commission will conclude its investigation within 12 months from the opening of proceedings on 25 March 2024.

In case of non-compliance, the Commission can impose fines of up to 10% of the gatekeeper’s total worldwide turnover. In Meta’s case, if found guilty, it could be fined with a penalty as high as $13.4 billion, based on the company’s 2023 annual earnings numbers.

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