Bitcoin Rally Far From Over, Per Glassnode Cofounders; SHIB Lead Teases SHIB Army With Update, Charles Hoskinson Dispels Rumors of Leaving Cardano: Crypto News Digest by U.Today
Here are the top three news stories over the past day presented to you by U.Today.
Bitcoin (BTC) rally far from over, say Glassnode cofounders
After revisiting its all-time high of $69,000, Bitcoin succumbed to its mercurious nature and dropped to lows of $62,000. However, the king crypto has managed to recover from the fall and bounced back to the $67,000 price mark, to the great relief of many BTC investors. According to a recent X post by Glassnode cofounders (@Negentropic_), this recent drop in the Bitcoin price was not a random event, but an ABC-correction, which "retested the former consolidation triangle." In their opinion, the retest and the significance of the $59,000-62,000 range indicate that the market may be about to embark on a V-shaped recovery that will take it to new highs. At the moment of writing, Bitcoin is trading at $67,037, per CoinMarketCap.
Gamza KhanzadaevShiba Inu (SHIB) expecting something big, teased update excites community
Shiba Inu lead Shytoshi Kusama has recently been very vocal about the updates his project's ecosystem is potentially facing. One of them is a projection that Shiba Inu's valuation could reach $100 billion in the long term, which followed after SHIB's market cap surpassed $13 billion. The surge in market value helped SHIB enter the top 10 largest cryptocurrencies, pushing Avalanche down to 11th place. Additionally, earlier this week, Kusama announced the launch of Shib Name Service (SNS) in partnership with D3. Another most recent update from the SHIB lead dated March 6 is his X post, in which he stated that he has been in meetings, "talking to the other side of the world," discussing the upcoming announcement and release of an important SHIB-themed service/product. It seems that with this multitude of announcements, Kusama is aiming to complement the SHIB token's price rally.
Tomiwabold OlajideCharles Hoskinson will not leave Cardano and IOHK
During a recent discussion on X platform, Cardano founder Charles Hoskinson addressed a concerned user asking whether it is true that he is leaving Cardano for another project, Midnight, or shifting to a multi-chain approach. The founder dispelled the rumors of his departure with a firm and direct "no," stating that "the hundreds of IOG engineers and scientists working on Cardano every day can confirm that." With this statement, Hoskinson reaffirmed his commitment to Cardano and put an end to rumors concerning Midnight, a new data protection-focused blockchain that aims to safeguard sensitive commercial and personal data, ensuring fundamental freedoms for developers, companies and individuals.
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