Author: Benjamin Lee
An under-the-radar altcoin witnessed a mild jump in price on Thursday after the venture capital giant Andreessen Horowitz (a16z) announced it was investing $55 million in the token. Ali Yahya, a general partner at a16z crypto, announced the investment in ZRO, the native token of the omnichain interoperability protocol LayerZero. LayerZero aims to move data across blockchains and support “censorship-resistant messages and permissionless development through immutable smart contracts.” Yahya notes the a16z investment has a three-year lockup. ZRO was trading around $2.33 prior to the announcement and surged to a high of $2.54 around 90 minutes later. The 208th-ranked crypto…
The native asset of a Bitcoin (BTC)-focused decentralized finance (DeFi) project defied the crypto market doldrums and skyrocketed by more than 55% this week. Threshold Network powers tBTC, a decentralized wrapped Bitcoin that can be used throughout DeFi ecosystems. The project’s native token, T, is trading at $0.0223 at time of writing, up from $0.0143 one week ago. The 236th-ranked crypto asset by market cap is also up nearly 48% in the past 24 hours alone. T’s price surge largely materialized after Threshold Network announced on Thursday that it planned to restructure its decentralized autonomous organization (DAO) to reduce annual…
Crypto investor and billionaire Barry Silbert says there’s one digital asset play that he thinks will be the “next big investment theme” for the asset class. In a new interview with Raoul Pal on the Real Vision YouTube channel, Silbert says that he’s created a new venture called Yuma, which exclusively focuses on Bittensor (TAO), a decentralized blockchain-based network built for a global, collaborative marketplace for artificial intelligence (AI). Says the Digital Currency Group (DCG) CEO, “I started looking across the whole decentralized AI space and started digging in on Bittensor, and I very quickly came to the conclusion that…
A low-cap altcoin is up after the world’s top crypto exchange platform by volume announced the listing of perpetual futures for it. In a new announcement, Binance says it will launch support for Bitcoin (BTC) decentralized finance (DeFi)-focused platform Lorenzo Protocol (BANK) to Binance Futures. Binance’s announcement came on the same day as BANK’s official launch on the BNB Chain. News of the addition sent BANK flying as the digital asset went from a low of $0.03 on April 18th – its launch day – to a peak of $0.057 just a few hours later. The token has since retraced…
A closely followed crypto strategist and trader believes that the time for altcoins to shine is close at hand. Pseudonymous analyst TechDev tells his 520,200 followers on the social media platform X that two macroeconomic factors are flashing bullish for altcoins based on historical precedent. The trader shares a chart suggesting that altcoins tend to explode whenever global liquidity surges and the business cycle bottoms out. Global liquidity refers to the amount of money sloshing in the world’s financial system, while the business cycle tracks the rise and fall of economic activity over time. Says TechDev, “Altcoins don’t run until…
Former Goldman Sachs executive Raoul Pal believes that one Solana (SOL) competitor looks to be in a position for a massive breakout. Pal tells his 1.1 million followers on the social media platform X that the Tom DeMark (TD) Sequential Indicator is flashing bullish for the layer-1 platform Sui (SUI). Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles. He also suggests that SUI is on the verge of breaking out of a downward channel, a bearish pattern indicating that the asset…
Alex Thorn, head of research at the crypto investment giant Galaxy Digital, believes the US government will add Bitcoin (BTC) to the Strategic Bitcoin Reserve (SBR). In an appearance on Bloomberg Crypto, Thorn predicts that in addition to the Bitcoin the US government holds from confiscations, the world’s largest economy will also purchase BTC to add to the SBR in 2025. “In March, they had the establishment of the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile Executive Order… …which specifically prohibited the government from selling Bitcoin and ordered the [Departments of] Commerce and Treasury to find out…
South Korean crypto exchange Upbit has announced a new listing for an altcoin on Sui (SUI), triggering explosive price action. According to a new announcement, Upbit is supporting DeepBook (DEEP) for trading over the Sui network on its platform starting Tuesday. The DeepBook project is a decentralized central limit order book (CLOB), which is what exchanges use to facilitate buying and selling between traders by recording bids and offers. Says the project, “Built as a permissionless central limit order book, DeepBook works as a neutral trading floor with a set of built-in mechanisms to enable DeFi (decentralized finance) on Sui.…
A crypto trader says a mid-cap altcoin flying under the radar looks primed to repeat Chainlink’s (LINK) blistering rally during the 2020 bull cycle. Pseudonymous analyst Inmortal tells his 231,800 followers on the social media platform X that he’s bullish on the native asset of the layer-2 scaling solution Mantle (MNT). According to Inmortal, MNT appears to be mirroring Chainlink’s consolidation from 2019 to 2020, which preceded LINK’s ascent from a low of $1.36 to a high of $53 – a whopping 3,797% explosion. “MNT gives me early LINK vibes. Many people think the bull market is over, but there…
Flare (FLR), Bittensor (TAO) and Ondo Finance (ONDO) are top gainers with between 17% and 28% spikes in 24 hours. Altcoins have soared amid broader market’s reaction to US President Donald Trump’s tariff pause. Bitcoin (BTC) is looking for support above $80k. Flare, Bittensor and Ondo Finance are among top gainers in the cryptocurrency market’s top 100 by market cap. The altcoins, which have soared between 17% and 28% in the past 24 hours, have benefitted from the broader market’s reaction to US president Donald Trump’s tariff pause. Notably, FLR, TAO and ONDO are rising as Bitcoin (BTC) seeks a…