Bitcoin adoption is soaring across sectors, emerging as a standard in the sports industry. Demonstrating this trend, a UFC winner has requested his bonus to be paid in Bitcoin, underscoring the cryptocurrency’s increasing prominence within the sports sector. 

Bitcoin Becomes Price Of Choice For UFC Winner

Brazilian professional Mixed Martial Artist (MMA) and UFC 300 winner, Renato Moicano took to X (formerly Twitter) on April 14, to demand that his $300,000 bonus should be paid in Bitcoin. The declaration came as a pleasant surprise to crypto enthusiasts under the comment, as many supported his new stance on the world’s most popular cryptocurrency. 

Related Reading: Market Expert Reveals Why Solana Price Is Poised To Go Higher

On Saturday, April 13, Moicano knocked out American MMA, Jalin Turner at UFC 300, achieving his third consecutive win. Following this victorious match, Moicano took the mic to give a quick but powerful speech.

The UFC winner expressed his love for America, emphasizing his admiration for the Constitution and the fundamental right of freedom of speech protected by the First Amendment. He passionately recommended that anyone who truly loved their country should study the teachings of Ludwig Von Mises, an American Austrian school economist known for his book, ‘The Six Lessons of the Austrian Economic School.’
The Six Lessons of Mises is a compilation of the author’s perspectives on inflation, capitalism, socialism, interventionism, foreign investment and politics. Moicano has encouraged people to read this book, suggesting that understanding its economic principles could contribute significantly to the development and prosperity of the nation.
Interestingly, the Six Lessons of Mises is also a book considered by many as a cornerstone for understanding Bitcoin. The lessons offer valuable insights into addressing modern economic challenges, some of which Bitcoin effectively addresses today. 

As a digital asset perceived to be the ultimate digital store of value, Bitcoin could serve as a hedge against economic inflation, providing investors with a safe place to preserve their wealth amidst economic turmoil. The cryptocurrency was also previously seen as a leading indicator of inflation, suggesting that Bitcoin could be used to track inflationary movements. 

The Rise Of Crypto In Sports Sector

Since its inception, cryptocurrencies have been growing rapidly in different sectors, providing solutions to the limitations of traditional finance systems. This rapid expansion not only underscores the growing adoption and acceptance of Bitcoin and other cryptocurrencies across diverse sectors but also highlights the increasing interest among athletes and sports organizations. 

Related Reading: Shiba Inu Sell Pressure Is Dropping – Here’s What It Means For Price

While Moicano showed support for Bitcoin by requesting for his bonus to be paid in the popular cryptocurrency, Vechain, a smart contract-compatible blockchain, landed a $100 million five-year heavyweight partnership with the UFC on April 13.

Additionally, earlier in 2022, the mixed martial arts company announced that it would be paying its fighter’s bonuses in cryptocurrencies. These developments effectively highlight the rise of cryptocurrencies in the sports sector, extending beyond UFC to include other sports like football, NBA and more. 

BTC price reclaims $66,000 | Source: BTCUSD on Tradingview.com

Featured image from Bitcoin News, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: bitcoinBitcoin newsbitcoin pricebtcBTC newsbtc pricebtcusd

Bitcoin Rebounds After Nearing Cost Basis Of Short-Term Whales

Bitcoin has found a rebound back above the $66,000 mark following a drop towards the on-chain cost basis of the short-term holder whales.

Bitcoin Drawdown Had Nearly Put Short-Term Whales Under Pressure

As pointed out by an analyst in a CryptoQuant Quicktake post, BTC’s price had neared the Realized Price of the short-term holder whales during the recent drop, but had still managed to remain above the level.
The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the cost basis (that is, the acquisition price) of the average investor in the Bitcoin market.

Related Reading: PEPE Preparing For A 54% Move? Analyst Thinks So

When the spot price of the cryptocurrency is trading above this level, it means that the investors as a whole are in a state of unrealized profits right now. On the other hand, it being under implies the overall market is carrying losses.
In the context of the current discussion, the Realized Price of the entire Bitcoin market isn’t of interest, but that of only a part of it: the short-term holder (STH) whales.
The STHs refer to the BTC investors who bought their coins within the past 155 days, while the whales are categorized as entities holding greater than 1,000 BTC. As such, the STH whales would refer to the large investors who bought during the last five months.

Naturally, the Realized Price of this group would indicate the average whale buying price over the past five months (and this price would obviously have to be one the cryptocurrency had traded at on some occasion inside this timeframe).
Now, here is a chart that shows the trend in the Bitcoin Realized Price for the STH whales over the last decade:

The value of the metric appears to have shot up in recent months | Source: CryptoQuant

From the graph, it’s visible that the Realized Price of the STH whales has rapidly climbed alongside the sharp rally Bitcoin has gone through this year. This makes sense, as the STHs represent the new hands coming into the market, who would have to buy at higher prices as the asset’s surge would continue.
Not only that, but the STHs who age past the 155 days mark (that is, those who bought at the relatively low prices) exit out of the cohort, thus raising the average even further.
The group that these matured investors advance to is known as the long-term holder (LTH) cohort. In the same chart, the quant has also attached the data for the Realized Price of the LTH whales as well.
It would appear that these veteran whales have their cost basis at just $21,500, meaning that these investors would be getting some big rewards for their patience. In contrast, the STH whales have their Realized Price at $60,700.

Related Reading: Dogecoin Usurped: These Memecoins Overtake DOGE In Active Trader Count

During Bitcoin’s recent drawdown, the asset had come close to retesting this mark. Such retests have historically lead to reactions in the market and during bull runs, this reaction has often appeared in the form of buying. This may be why the cryptocurrency found its rebound near the $60,700 level.

BTC Price

With its latest rebound, Bitcoin has so far managed to recover back towards the $66,500 level.

Looks like the price of the coin has made some recovery from its recent drop | Source: BTCUSD on TradingView

Featured image from Thomas Kelley on Unsplash.com, CryptoQuant.com, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: bitcoinBitcoin Cost-BasisBitcoin Realized PriceBitcoin Rebound

Toncoin Defies Market Turmoil, Surges 25% To Tally All-Time High – Details

Toncoin (TON) has defied recent market turbulence, reaching a new milestone with its price surging to an all-time high of $7.0. This nearly 25% increase has propelled Toncoin to become the eighth largest cryptocurrency by market cap, surpassing Dogecoin (DOGE) with a market cap of nearly $25 billion.

Source: CoinMarketCap

Related Reading: Dogwifhat To The Vet! Meme Coin Needs Medical Attention After Price Plunge — Analyst

Toncoin: Powered By Strategic Partnership

Toncoin’s recent momentum can be attributed in part to its partnership with HashKey, which has bolstered investor confidence. Since March, Toncoin has sustained considerable momentum, witnessing a surge of approximately 35% in the past week and a remarkable 136% increase over the past month.

Technical Indicators Signal Potential Growth

Technical analysis indicates a bullish trajectory for Toncoin, with its price following an ascending channel pattern. Despite brief downward movements, strong buying activity near the support line suggests resilience among investors.

TON weekly price action. Source: CoinMarketCap

Analysts predict a potential breakthrough of the $7.50 resistance line, potentially paving the way for a rally towards $10. Both moving averages are trending upwards, and the Relative Strength Index (RSI) remains positive, signaling favorable conditions for buyers.
Toncoin has had a significant and rapid increase in value since the beginning of the year. The year-to-date (YTD) growth of this entity stands at 205%, surpassing the growth of Bitcoin (BTC) which is recorded at 57%.

Catalysts Behind TON’s Growth

There are numerous driving forces behind Toncoin’s explosive growth. Its distinct technology aids in the scalability of decentralized services constructed upon it, and its tight relationship with Telegram serves as an additional catalyst for its expansion.

Bitcoin is now trading at $66.274. Chart: TradingView

All told, the Toncoin ecosystem is home to a large number of aspirational users who have contributed to the development of a tight-knit community that powers and encourages network innovations.

Telegram’s Influence Adds Momentum

The influence of messaging app Telegram has also contributed to Toncoin’s momentum. Rumors of Telegram’s impending IPO and plans to integrate Toncoin into its platform have heightened investor optimism.

Telegram’s CEO, Pavel Durov, recently disclosed the company’s receipt of offers totaling $30 billion, further fueling excitement. Additionally, Telegram’s decision to introduce advertisements within its channels, with rewards distributed in Toncoin, underscores the platform’s commitment to cryptocurrency integration.

Related Reading: XRP Poised For Takeoff: Analysts Predict Huge Gains After Bitcoin Halving

Toncoin’s surge represents a significant development in the cryptocurrency landscape. As the cryptocurrency continues to challenge established players and forge strategic partnerships, investors are reminded of the inherent volatility in the market.
Even though Toncoin’s present path looks good, it is still important to be careful with risks. As people keep an eye on what’s going on, Toncoin’s path to continued growth stays a central issue in the world of digital assets, which is always changing.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: altcoinscryptotelegramTONToncoin

BTC Stable Above $70K, Top Altcoins to Explode Following the Halving Event

The upcoming halving event for Bitcoin (BTC), scheduled for April 19th, can potentially trigger a prolonged surge in the prices of altcoins. Historical analysis of past BTC halvings reveals a significant decrease in BTC’s dominance within 12 to 18 months post-halving, often accompanied by a surge in altcoin values. This means that making preparations now is the best way to profit from the upcoming changes, which is why this article will cover top altcoins poised to explode after the halving event, so let’s get to work!

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Top 7 Altcoins Poised to Explode After the Halving Event

Bitcoin is currently in a good position, hovering around $70k, and Bitcoin Halving is a major event that crypto enthusiasts wait for with excitement. The Bitcoin Halving marks a pivotal event happening once every four years. Following each Halving, the difficulty of mining BTC rises as the mining reward is halved. Historical data from the three previous halvings indicates a notable decrease in Bitcoin’s dominance, coinciding with a rapid ascent in the market capitalization of altcoins in the months post-adjustment of mining difficulty. These are the altcoins to focus on now:

1. Dogeverse ($DOGEVERSE)
2. Slothana ($SLOTH)
3. 99Bitcoins ($99BTC)
4. 5th Scape (5SCAPE)
5. Dogecoin 20 (DOGE20)
6. Sponge V2 ($SPONGE)
7. Poodl Inu ($POODL)

Take a closer look at these cryptos and add them to your portfolio in time!

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1. Dogeverse ($DOGEVERSE) – Crypto Paving the Way to Multi-Blockchain Innovation

Dogeverse is one of the newest meme coins embracing a dog theme we all know and love. However, it comes with a unique space theme and multi-blockchain innovation this time. It operates across diverse blockchain networks like Ethereum, BNB Chain, Polygon, Base, Avalanche, and Solana. This groundbreaking feature ensures investors can effortlessly access and utilize $DOGEVERSE regardless of their preferred crypto ecosystem, simplifying the entire investing process.
Meanwhile, $DOGEVERSE also delivers tangible financial rewards since investors can stake their tokens and earn passive rewards, with additional “community incentives” on the horizon. Presently, staking $DOGEVERSE tokens yields an impressive 327% annual return, offering an enticing prospect for early adopters.
With over $3 million raised within days, it’s evident that this meme coin holds vast potential for imminent growth, particularly amid the buzz surrounding the upcoming Bitcoin Halving event scheduled for April 19th. This altcoin has enormous potential to explode in the near future, so secure your portion before its value skyrockets!

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2. Slothana ($SLOTH) – Meme Coin Opening The World of Possibilities with Crypto Investing

Solana tokens have become increasingly popular lately, and Slothana is emerging as the latest sensation within the Solana ecosystem, attracting enormous attention from investors. The project centers around a sloth at its core, which instantly introduces something new and fresh. It introduces the new concept that it is possible to transition from a 9-5 job to crypto investing and living the best life.
Slothana’s presale buzz positions it as a contender for the next 100x coin, having already surpassed the presale achievements of Book of Meme and Slerf. Leveraging Solana’s technical capabilities, the project boasts quicker transaction speeds and reduced fees in contrast to Ethereum.
Backed by the robust infrastructure of the Solana blockchain and bolstered by a dedicated community, Slothana stands poised to carve a significant niche within the meme coin landscape. The fact that more than $10 million has been raised so far proves its potential to explode, so make sure you add it to your portfolio in time!

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3. 99Bitcoins ($99BTC) – Unique Altcoin Introducing Learn2Earn Mechanism

99Bitcoins, a renowned platform with a dedicated cryptocurrency community, is introducing an innovative Learn-to-Earn system fueled by its native token, $99BTC. Through interactive learning modules, quizzes, and engaging experiences, users can accumulate $99BTC tokens while enhancing their cryptocurrency knowledge.
Advanced training courses, trading webinars, and VIP community groups will be offered, all with one goal—to demystify crypto investing and welcome new investors. The $99BTC token offers holders various perks, including staking rewards, exclusive trading resources, and access to a vibrant community of crypto enthusiasts. As the demand for crypto education rises and the potential for a post-halving bull market looms, 99Bitcoins is poised for substantial growth.
Undoubtedly, an increasing number of people will want to engage in crypto investing, and investing in $99BTC can be beneficial in many ways. This project will evolve fast as more people seek guidance, so make sure you join as early as possible and profit from all the useful features it offers!

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4. 5th Scape (5SCAPE) – Redefining Gaming with Hyper-Realistic Experiences and Blockchain Power

In the cryptocurrency market, a promising new project focused on virtual reality (VR) and gaming experiences is generating significant interest. This Ethereum-based platform called 5th Scape recently surpassed the $5 million mark in its ICO, sparking speculation about its potential as a major player in the VR crypto arena.
5th Scape sets out to create an ambitious gaming platform that seamlessly integrates the virtual and decentralized realms. At its foundation lies a rich library of immersive VR games spanning genres such as MMA, cricket, soccer, archery, and more. As outlined in 5th Scape’s whitepaper, the project is in the process of developing its own VR headset and ergonomic gaming chairs to fully immerse players in their 3D environments.
Early previews of these environments showcase hyper-realistic graphics and intuitive gameplay designed to tap into the burgeoning VR gaming market. However, what truly distinguishes 5th Scape is its decentralized approach. The platform features a creator marketplace where developers can create, publish, and monetize their VR experiences utilizing the native 5SCAPE token. This presents an enticing opportunity for developers and investors, which could foster a thriving ecosystem of user-generated VR content, so make sure you explore this attractive opportunity in time!

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5. Dogecoin 20 (DOGE20) – Elevating Meme Coin Standards with Ethereum Smart Contracts

Dogecoin20 is a very interesting meme coin that immediately captivates with its compelling concept, emerging as the natural progression of Dogecoin within the Ethereum ecosystem. Offering improved flexibility for token management and transactions, it embraces a fixed supply model while opening doors to enticing passive income avenues. It has also garnered attention from whales, showcasing an ERC-20-based token striving to expand upon the legacy of its predecessor, Dogecoin.
Distinguishing itself, DOGE20 adopts an environmentally conscious proof-of-stake consensus mechanism, diverging from traditional mining methods to alleviate concerns regarding carbon emissions. A pivotal aspect of DOGE20 lies in its fixed maximum circulating supply, capped at 140 billion tokens, which differs from Dogecoin’s infinite supply. This adjustment aims to mitigate potential inflation, a contentious issue among Dogecoin enthusiasts.
DOGE20’s enriched features and novel staking infrastructure promise passive income opportunities for investors, so it’s no wonder it easily raised $10 million in its presale in a short period of time. There is now a last chance to buy, so make sure you use this opportunity wisely!

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6. Sponge V2 ($SPONGE) – Meme Coin Embracing Play2Earn utility

Sponge V2 marks the evolution of the renowned $SPONGE token, which made waves last year despite challenging market conditions. This improved token brings advanced features and enhancements to refine user experience and optimize protocol efficiency.
With a strong emphasis on innovation, Sponge V2 has caught the attention of crypto investors who are looking for the next altcoin to explode. The Play-to-Earn feature allows skilled players to immerse themselves in the game, showcasing their abilities and earning tokens as rewards for their prowess. What adds to the allure is the availability of both a free version for users to explore the game and a paid version for those seeking deeper engagement and the opportunity to earn while playing.
Since its inception, the price of $SPONGE has skyrocketed by over 7200%, and this upward trajectory is anticipated to continue in the foreseeable future, positioning it as one of the top altcoins to acquire before the Halving Event occurs!

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7. Poodl Inu ($POODL) – Provocative Meme Coin Aiming to Bring New Utility

Poodl Inu, a daring newcomer in the meme coin arena, has rapidly attracted the attention of crypto enthusiasts, broadening its appeal. The fervor surrounding Poodl Inu continues to escalate as more individuals uncover $POODL and its expanding presence among the plethora of dog-themed meme coins in the market.
Investors who acquire the $POODL token can promptly participate in staking activities and enjoy earning rewards while delving into meme-related pursuits. It is one of the most attractive altcoins expected to explode after the Halving Event, especially since its presale already concluded. It will be listed on Uniswap on April 15th, which is adding to the overall excitement.

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Conclusion

This year is different for the crypto market in so many ways. After a few difficult years for crypto investors, optimism and many earning opportunities are finally here. The scarcity that the Bitcoin halving will bring will surely positively impact altcoins, which is why adding $DOGEVERSE, $SLOTH, $99BTC, 5SCAPE, DOGE20, $SPONGE, and $POODL to your portfolio can be a game changer. Make sure you keep them on your radar and profit from their expected price rise!
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.