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Furrever Token

New York, NY, April 12, 2024 (GLOBE NEWSWIRE) -- The cryptocurrency market continues to evolve with significant movements in key digital currencies, including Bitcoin (BTC), Ethereum (ETH), and the emergingFurrever Token (FURR). This article provides a detailed analysis of these cryptocurrencies, highlighting their current market positions, underlying value propositions, and potential future directions.

Bitcoin's Market Value: A Comparative Analysis

On April 10, 2024, the value of a single bitcoin reached an impressive milestone, exceeding $70,000, with a specific value of $70,665. The total circulation of bitcoin at this time was over 19.68 million, culminating in a market capitalization exceeding $1.39 trillion. This marks a significant increase from the previous year, where the market cap was around $472 billion with approximately 19.35 million bitcoins in circulation.

To understand the proportion of global wealth represented by bitcoin, it's crucial to consider the overall monetary wealth. According to calculations by Credit Suisse, global wealth was estimated at $454.4 trillion by the end of 2022. Assuming a steady growth rate, the total global wealth by 2024 would be around $469.8 trillion, placing bitcoin at 0.3% of this figure.

Gold has traditionally been seen as the ultimate safe-haven asset. With an estimated 244,000 tons of gold discovered to date and a price per ounce of $2,334.90 as of April 10, 2024, the total value of all gold amounted to approximately $18.23 trillion. In this context, bitcoin's total value represented about 7.6% of the total value of all gold.

While bitcoin is the most well-known cryptocurrency, it is far from the only one. Including other major cryptocurrencies like Litecoin, Monero, and Ethereum, the total market cap for cryptocurrencies was around $2.6 trillion as of April 10, 2024. This constituted roughly 0.56% of the total global money supply.

Cryptocurrencies, including bitcoin, are known for their volatility, liquidity issues, and susceptibility to price manipulation. Potential investors are advised to thoroughly understand the risks associated with these digital assets.

Bitcoin, as a pioneering cryptocurrency, occupies a unique position in the global financial ecosystem. Its comparison to traditional assets like gold highlights its growing relevance and potential as a store of value, despite constituting a small fraction of the world's total monetary wealth. As the digital currency landscape evolves, bitcoin continues to be a significant player, reflecting broader trends in the move towards virtual assets.

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Ethereum's Price Recovery: A Path to $3,600

Ethereum has shown resilience by holding above the crucial $3,400 support zone, indicating a possible recovery from recent losses. However, to sustain an upward trajectory in the near term, it must breach the $3,600 mark.

The digital currency witnessed a downturn, dipping below the $3,500 threshold and momentarily breaching the $3,450 support level. Ethereum found its lowest point at $3,408 before initiating a recovery, paralleling Bitcoin's upward movement. This recovery saw Ethereum surpass the $3,500 resistance, reaching the 50% Fibonacci retracement level from its previous high of $3,726 to its low of $3,408. Additionally, Ethereum managed to break through a downward trend line on the ETH/USD hourly chart, signaling a potential reversal of the bearish trend.

Ethereum currently hovers around the $3,500 mark, closely aligned with the 100-hourly Simple Moving Average, suggesting a balanced market sentiment. Immediate resistance is identified near $3,600, correlating with the 61.8% Fibonacci retracement level from the recent high to low swing.

Should Ethereum overcome the $3,650 resistance, it might target the $3,725 level, setting the stage for a possible move towards $3,780. A decisive break above $3,800 could catalyze a bullish momentum, possibly propelling the price to the $3,880 zone and, in an optimistic scenario, to the $4,000 mark.

Conversely, failure to surpass the $3,600 resistance could trigger a new round of selling. Immediate support is found near $3,520, with significant support at the $3,500 and $3,400 levels. A breach below $3,400 might lead to a decline towards $3,320, and further losses could potentially push the price down to $3,240.

Furrever Token: A Charming Alternative in the Cryptocurrency World

In the dynamic realm of cryptocurrency,Furrever Token (FURR)is making waves as an innovative alternative to the more traditional altcoins. Standing out with a unique blend of charm and community spirit, FURR is distinguishing itself amidst giants like Solana (SOL) and Ethereum (ETH).

What sets Furrever Token apart is its commitment to adding a touch of charisma to the crypto industry. Moving beyond mere transactions and functionalities, FURR captures the hearts of its users with enchanting digital cat imagery, offering an enjoyable and lighthearted experience. This not only differentiates FURR from its counterparts but also fosters a sense of community and collective enjoyment among its enthusiasts.

At its heart, Furrever Token prioritizes creating a welcoming and inclusive community. The introduction of cat-themed visuals, stickers, and emojis into its platform not only enhances user engagement but also promotes a sense of unity and camaraderie among its members. This focus on community building is a cornerstone of FURR's strategy, making it more than just a cryptocurrency but a shared experience.

Furrever Token's approach to token distribution is equally impressive, with about 9 billion tokens in total supply. A significant 65% of these tokens are allocated for a presale, aimed at ensuring a broad and fair distribution. Additionally, locking 10% of the total supply for a year underscores the team's dedication to the project's longevity and the trust of its community.

The market has responded favorably to Furrever Token, with over $720,000 raised within a month of its launch. This remarkable feat underscores FURR's growing appeal and its viability as an investment in the crypto market. With its price currently at $0.00048, Furrever Token demonstrates a steadily increasing value, attracting the attention of investors and cryptocurrency enthusiasts alike.

Furrever Token (FURR) presents a compelling case for those looking for an alternative in the cryptocurrency space. Through its unique charm, strong community focus, and thoughtful tokenomics, FURR is carving out a niche for itself against competitors like Solana and Ethereum. As it continues to build momentum, Furrever Token stands as a testament to the potential of innovative and engaging approaches in the world of digital currencies.

Wrapping Up

The cryptocurrency market remains a dynamic and complex ecosystem, with Bitcoin and Ethereum continuing to dominate the landscape, while new entrants like Furrever Token offer fresh perspectives and opportunities. As these digital currencies evolve, they reflect broader trends towards virtual assets and the increasing integration of cryptocurrencies into the global financial system. Investors and enthusiasts alike are advised to stay informed and consider the unique characteristics and potential of each cryptocurrency. The future of the cryptocurrency market holds both challenges and opportunities, with innovation and community engagement at the heart of its growth and sustainability.

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Disclaimer:The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

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The Latest in Crypto: A Spotlight on Bitcoin (BTC), Ethereum (ETH), and Furrever Token Today - Yahoo Finance

Ethereum, the second-largest cryptocurrency by market capitalization, has faced a turbulent period, with its price plummeting to levels not seen in nearly three years against Bitcoin.

However, amidst this market volatility, a fascinating trend has emerged deep-pocketed investors, often referred to as whales, have been strategically accumulating Ethereum.

The recent price drop has been significant, with Ethereums value against Bitcoin (ETH/BTC) falling to around 0.048 BTC, a level last witnessed in May 2021.

Despite this decline, several key technical indicators are flashing bullish signals, and some analysts are anticipating potential gains ahead for the ETH/BTC pair.

One notable whale, identified as 0x435, seized the opportunity to acquire a substantial amount of Ethereum during the price dip. With a staggering investment of 70 million USDC, this whale acquired 23,790 ETH when Ethereum hit nearly $2,930.

However, this wasnt a spur-of-the-moment decision; rather, it was part of a calculated strategy that unfolded over several days, involving significant transactions and withdrawals from both centralized exchanges like Binance and decentralized exchanges.

On-chain analytics firms, such as Spot On Chain and Lookonchain, have provided insights into the scale and timing of these whale transactions, revealing a broader pattern of strategic accumulation amidst the market turbulence.

These whales arent acting alone; theyre part of a wider trend that suggests institutional players or sophisticated investors are positioning themselves strategically in anticipation of future market movements.

The broader context of Ethereums price movement adds another layer to this unfolding saga. Ethereums decline over three consecutive days, from highs of $3,617 to lows of $2,850 on April 13, underscores the volatility and uncertainty gripping the cryptocurrency market.

However, amidst the stormy seas, Ethereum managed to make a slight recovery, climbing back up to $3,107 at the time of writing, albeit still down 6.05% in the last 24 hours.

Hong Kong has set new precedents as the first jurisdiction to permit trading in Bitcoin and Ethereum cash exchange-traded funds (ETFs).

The Securities and Futures Commission (SFC) of Hong Kong has granted permission to several prominent financial corporations, including China Asset Management, Bosera Capital, and HashKey Capital Limited, to establish these ETFs.

While the US Securities and Exchange Commission (SEC) is currently reviewing similar applications, Hong Kong has taken the lead in this space.

The rest is here:

Ethereum Whales Go on a Buying Spree as ETH Price Drops - Blockonomi

Singapore,August 27,2021/AlexaBlockchain/ L2 Labs Foundation, the high-profile software engineering team behind flagship Ethereum-based decentralized exchanges (DEXes), solidifies its stance as a prominent scaling infrastructure provider. Now it intensifies the research and development efforts addressing the one-stop payment solution for businesses and individuals.

Seasoned blockchain developers from L2 Labs have shared the details of their new product, L2.Cash. It is going to allow decentralized applications and end users to harness leading L2 scaling techniques of the Ethereum (ETH) universe, zk-proofs.

The new product will be integrated with major Ethereum-based decentralized trading platforms and open to the whole blockchain ecosystem: no previous expertise in blockchain programming will be required to utilize L2.Cash.

Due to revolutionary resource-efficiency of zk-proofs, all Layer 2 transactions in L2 Labs solutions are 100% free. L2.Cash can also be used free of charge that reaffirms L2 Labs strategy of further expanding feeless scaling solutions worldwide.

Technically, L2.Cash should be referred to as a payment protocol for lightning-fast, low-latency retail transactions. Thus, it is the first out-of-the-box solution for retail users and merchants developed by L2 Labs. The launch of L2.Cash will finally give a proper spin to real-world zk-proofs adoption flywheel.

L2.Cash facilitates nearly-instant value transfers as zk-proofs infrastructure allows very low transactional latency and full consistency of L1/L2 status. It ensures maximum capability of 1,000 txs per second for all ERC-20 tokens.

Thus, using L2.Cash can save users businesses and wallets from the congestion and fee spikes of mainstream blockchains like Ethereum (ETH) and Binance Smart Chain (BSC). As covered by U.Today previously, within the periods of maximum network overload, fees on Ethereum-based DEXes like Uniswap (UNI) can spike over $250 per one swap.

L2.Cash boasts resource-efficient airdrop functionality: all Ethereum-based tokens can be distributed through its instruments free of charge. L2.Cash can airdrop tokens to 10 users every second. This feature is a crucial one for early-stage teams with tokens as it allows to save on infrastructure costs while airdropping assets to first adopters.

Also, the L2 Labs team is actively researching opportunities for zk-rollups technology to get connected to Ethereum Virtual Machine, also dubbed EVM, a decentralized computer behind Ethereum and a number of similar blockchains like Binance Smart Chain (BSC), Huobi Eco Chain (HECO), OKEx Chain (OEC), Polygon Network (MATIC), and so on.

Once deployed, L2.Cash protocol will be able to expand on every EMV-compatible chain. This, in turn, will open massive opportunities for its user base boost.

SOURCE L2.Cash

This Post L2 Labs Foundation Explores L2.Cash Protocol to Bring Zk-Proofs to Payment Tools first appeared on https://www.prnewswire.com/.

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Hong Kong Pioneers Bitcoin and Ethereum ETFs in the Asian Market - AlexaBlockchain

In the cryptocurrency world, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) remain three of the most-watched tokens for good reason. Unfortunately, onlookers have seen mostly downside price action over the weekend. Since market close on Friday, these three top digital assets have sunk 4.2%, 2.5% and 11.2%, respectively, as of 12:45 p.m. ET on Monday.

An initial sharp decline was seen in all three tokens in early Saturday trading, in line with the reported escalation of the ongoing conflict between Iran and Israel. While each of these three tokens has made up some of this weekend's initial losses, it's clear that cryptocurrency is not immune from the geopolitical forces driving capital in and out of assets in times of uncertainty.

These moves are also significant because they come ahead of this week's expected Bitcoin halving, in which block rewards for miners will be cut in half. Typically, previous halvings have resulted in a booming price, which has bled into other crypto assets as well.

But given the anticipation around this rise, as well as capital inflows into spot Bitcoin ETFs, some investors appear to be betting that much of this rally might have already taken place, leading to caution heading into this key catalyst.

Let's dive into some other key factors to consider when it comes to these three top tokens and their price action today.

Bitcoin's move is perhaps most important to watch, as the largest cryptocurrency in the world heads into its latest halving, expected to take place on or about April 20. We'll have to see how the network responds, and how investors value the network as its inflation rate is halved yet again.

The fact that Bitcoin did not rise on increased Iran-Israel tensions suggests that investors are continuing to view it more as a risk asset and less as a hedge against uncertainty. We'll have to see if this narrative shifts, particularly if some response from Israel is seen in the coming days.

Ethereum's move, while negative, has been the strongest of the three over the weekend. This is likely due to news that the Securities and Exchange Commission (SEC) has approved applications from three Chinese companies to list Bitcoin and Ethereum spot ETFs in Hong Kong.

No official report from the SEC has been released, but this could signal that a spot Ethereum ETF approval in the U.S. is likely to be seen in short order. For now, overarching macro concerns appear to be stealing the spotlight from this otherwise positive catalyst. I would expect Ethereum to continue to outperform its fellow large-cap tokens in the coming weeks, as investors price this catalyst in.

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Dogecoin's double-digit move lower over the weekend once again exemplifies this token's nature as a high-risk and high-leverage bet on momentum within the crypto space. A lack of any meaningful rhetoric from Elon Musk (and negative sentiment building around Tesla and its recent layoffs and full self-driving announcements) have investors seemingly looking for other options in the crypto realm right now.

Certainly, there are a number of bullish catalysts that could take these three top tokens higher this week. The Bitcoin halving and the reported approvals of spot Ethereum ETFs should be broadly bullish for the top two cryptos by market capitalization (and Dogecoin by default).

The thing is, uncertainty remains high right now, and investors remain on edge waiting to see if we're heading into yet another war. The feeling in financial markets is glum right now, meaning these catalysts could be overshadowed by this overarching sentiment, at least in the short term.

It will be interesting to see how these top tokens perform next weekend, as additional news arises around the two aforementioned key catalysts every crypto investor is watching right now.

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Chris MacDonald has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Tesla. The Motley Fool has a disclosure policy.

Why Bitcoin, Ethereum, and Dogecoin Slipped Over the Weekend was originally published by The Motley Fool

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Why Bitcoin, Ethereum, and Dogecoin Slipped Over the Weekend - Yahoo Finance

Built using the Polygon Chain Development Kit (CDK), X Layer utilizes zero-knowledge proofs to improve privacy and scalability.

Crypto exchange OKXannounced an Ethereum layer-2 network, X Layer. With this layer-2 solution, users can reportedly connect to Ethereum's expansive network, enhancing scalability, privacy, and accessibility within the blockchain industry.

Let's take a closer look at X Layer.

X Layer is a ZK rollup solution that leverages the power of zero-knowledge proofs (ZK proofs) through the Polygon Chain Development Kit (CDK).

As perreports, this framework empowers developers to construct blockchains rooted in ZK proofs, thereby fortifying privacy measures while amplifying scalability. By leveraging ZK proofs, developers can execute transactions securely without revealing sensitive information, fostering a more confidential and efficient ecosystem.

One of X Layer's defining features is its integration with both the OKX and Ethereum communities. This symbiotic relationship facilitates fluid interaction between users, enhancing collaboration and innovation across the global blockchain landscape.

With X Layer serving as a vital bridge, users can navigate between OKX's robust platform and Ethereum's expansive network, unlocking a myriad of opportunities for growth and exploration.

X Layer reportedly boasts 100% compatibility with the Ethereum Virtual Machine (EVM), streamlining the deployment process for developers. This compatibility ensures that existing Ethereum smart contracts can be seamlessly migrated to X Layer, minimizing friction and maximizing efficiency.

Built upon the Polygon CDK, X Layer reportedly offers near-instant finality, unified liquidity, and independent data availability.

X Layer provides a fertile ground for developers to cultivate and deploy ZK-powered DApps, according to the OKX team. With X Layer, developers can explore their creativity and drive change within the blockchain landscape via token swaps, staking, or other smart contract applications.

As a portal to Web3, X Layer can be accessed through the OKX Wallet. Users can move funds between OKX and X Layer using the native token, OKB.

Over 50 decentralized applications were deployed in the first week after the protocol launched its testnet last November. An array of Web3 and DeFi apps, including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap, are already taking advantage of Layer 2 networks.

Worth noting, OKX has over 50 million global users and a trading volume second only to Binance.

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OKX's New Ethereum Layer-2: What is X Layer? - BSC NEWS