2024-1-21 05:39 |
The crypto market braces for a potential rally as Bitcoin’s (BTC) hash rate hits all-time peaks of more than 500 exahashes/second. Surges in this metric indicate investor confidence and possible price upswings.
#bitcoin hashrate hit all time high…How big is 500 Exahash/sec? Let's start with number of zeros in it.
How many do you think it has?
Price of bitcoin correlates with the hashrate. Bullish! pic.twitter.com/QbwYTusWr3
The hash-rate uptick has triggered enthusiasm among participants, and Cardano’s (ADA) increased development activity presents ADA as a perfect candidate for price surges. Further, self-custodial trading bot BitBot (BITBOT) sees success early as its presale debuts, raising over $264K within four days.
BTC’s surged hash rateThe significant increase in the Bitcoin hash rate has multiple effects on the blockchain. First and foremost, it improved network security as it translates to increased computational power needed to tamper with blockchain data.
That substantially reduces cases of cyber-attacks. Meanwhile, a massive hash rate demonstrates a stable and dependable platform, boosting confidence in BTC as a longer-term investment tool.
BitBot: first-of-a-kind non-custodial trading botBitBot is a new telegram-based trading bot that launched its much-awaited presale early this week, 17 January). Meanwhile, the project draws investor interest, attracting over $264K in funds four days after arriving in the market.
While Telegram could have multiple trading apps, Bitbot changes the course, presenting the world’s first-of-a-kind no-custodial trading bot for crypto investors. Moreover, the project wants to alleviate fraudulent cases with heightened security.
The MPC Custody allows traders to remain in control over the tokens with a keyless management protocol. Also, the anti-rug functionality alleviates exit scam cases.
Bitbot uses BITBOT as its native coin. That altcoin has massive benefits for its holders, including a share of the platform’s profits and electrifying airdrops.
Innovative solutions such as non-custodial offerings, amplified security, and AI-centered tools will likely attract enormous players to Bitbot, fueling the project’s success. BITBOT trades at $0.0105 (at this writing) and will likely fly to record heights in 2024.
Cardano flourishes with significant network developmentsAltcoin Cardano dominates crypto trends early in 2024 due to multiple developments and significant updates. IOG’s recent weekly report highlights various advancements and projects, reflecting the network’s expanding ecosystem.
#Cardano Weekly development report – January 19, 2024 pic.twitter.com/fanHFC3Kpt
— Cardano Feed ($ADA) (@CardanoFeed) January 19, 2024Cardano platform has seen 157 new projects launched, whereas 1,319 remain under development. Also, Plutus version 1 scripts stand at 6,332, while V2 scripts hover at 17,531. Notably, the ADA blockchain has processed 83.4 million transactions (cumulatively), highlighting massive participation and activity.
ADA exhibited a positive momentum at press time, up 2% within the previous day to $0.5145. the upside stance shows investor confidence in the project’s ongoing developments.
Significant strides as 2024 begins position Cardano as a vital player within the ever-changing crypto landscape. Enthusiasts will likely monitor these developments while benefiting from ADA’s projected growth.
You can find more information about Bitbot’s flourishing ecosystem on its website.
The post Cardano, Bitbot reflect steady momentum as Bitcoin (BTC) hash rate touches all-time highs appeared first on Invezz
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