![Bitcoin Records Surge In Retail Investors – Is A Price Rebound On?](/image/66810274357c1.jpg)
According to data from CoinMarketCap, the price of Bitcoin declined by 5.25% in the past week falling below the $60,000 mark. This price dip adds to the string of negative performances in the last month during which BTC has lost 9.88% of its value. However, Bitcoin has recently seen an increase in buying interest despite its recent price dips and popular notions that the maiden cryptocurrency is bound to remain in a consolidation state for now. Prominent crypto analyst Ali Martinez has now stated another development that characterizes the resilient interest in Bitcoin amidst its current overall bearish trend. Related Reading: Analyst Identifies Bitcoin Liquidity Pools You Should Be Aware Of Going Into July Retail BTC Investors Return In Numbers: Incoming Price Rally? In an X post on Saturday, Martinez reported that the number of new Bitcoin (BTC) addresses reached 352,124 on Friday. This figure marks the highest level since April and breaks a downtrend that has persisted since November 2023. Based on this data, the crypto analyst announced a resurgence in the number of retail Bitcoin investors indicating renewed interest from key players in the market. For context, retail investors refer to individual investors who trade assets for their personal accounts. They typically trade in smaller quantities than organizations but are quite important for market stability and liquidity. Generally, a rise in retail investors represents an increase in the token’s demand due to an influx of new participants to the market which can subsequently translate into a rise in market price. Furthermore, this surge in new addresses can be interpreted as a positive signal stating that individuals have disposable income and are willing to invest in speculative assets like Bitcoin. Finally, retail investors can also serve as a barometer for market sentiment with their increased activity indicating a broader bullish sentiment on Bitcoin’s future in the market. Interestingly, Bitcoin’s price already saw a slight increase of 0.92% on Saturday, briefly surpassing the $61,000 mark. However, it is still too early to determine if this price bounce could trigger a market rebound for the most valuable cryptocurrency. Related Reading: Is The Bitcoin Price Correction Over? Here’s The Support Level To Watch Bitcoin Price Overview At the time of writing, Bitcoin is trading at $60,884, as it continues to move within the $60,100 to $63,200 range. The token’s daily trading volume has decreased by 49.16% and is now valued at $12.7 billion. If Bitcoin bulls can generate sufficient buying pressure to break out of this sideways movement, the asset could potentially return to $67,000. Conversely, if the coin experiences a price breakdown, it could fall as low as $40,000. Featured image from The Defiant, chart from Tradingview
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Cryptocurrencies Show Mixed Performance Despite BTC Rise
![Meme coins continue to grow despite market volatility. SHIB and PEPE show mixed performance amid BTC rise. Continue Reading: Cryptocurrencies Show Mixed Performance Despite BTC Rise](/image/668369afe4a2d.jpg)
Meme coins continue to grow despite market volatility. SHIB and PEPE show mixed performance amid BTC rise. Continue Reading: Cryptocurrencies Show Mixed Performance Despite BTC Rise NewsBTC
![The recent report released by the Polkadot Treasury for the first half of 2024 has raised concerns over an impending funding crisis. The report indicates that the Treasury’s assets, spread across multiple chains, have become increasingly complex and challenging to manage effectively. Decentralized finance (DeFi) researcher DeFi Ignas has analyzed the report, highlighting the Treasury’s limited runway of approximately two years at the current burn rate of $87 million every six months. Funding Concerns Mount For Polkadot Polkadot’s expenditure during the first half of 2024 paints a worrying picture. An extensive outreach program accounted for $37 million, aiming to attract new users, developers, and businesses. Additional expenses included $10 million on ads/sponsorships, $4.4 million on influencers, and $4 million on digital ads. Surprisingly, despite such expenditures, Polkadot’s visibility on social media platforms, including “Platform X,” remained notably low. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows The Treasury spent a total of $86 million in the past six months, managing $245 million (38 million DOT) in assets, with $188 million (29 million DOT) in liquid form. The burn rate indicates that the Treasury may face bankruptcy in less than two years. Polkadot’s token supply experiences a 10% annual growth, primarily fueling staking rewards. With a $10 billion market cap, stakers receive $1 billion per year, which significantly affects network security costs. However, a proposal to reduce inflation was rejected by 57% of the stakeholders, further compounding the Treasury’s financial challenges. New Governance Model The report reveals that direct fee revenue remains marginal for Polkadot. In 2023-H2, Polkadot generated 300,000 DOT through fees during a short-lived inscription campaign. Under regular conditions, fee revenue stabilizes at around 20,000 DOT per quarter. On the expense side, the report highlights a 2.4x increase in DOT spending compared to 2023-H2. Ambitious proposals and larger ask sizes contributed to this significant spending surge. Although the average DOT price rose, resulting in more value per DOT, concerns about the Treasury’s usage are mounting within the ecosystem. Related Reading: Dogecoin Could Eclipse $1 Mark This Bull Run, Predicts Analyst To address these challenges, Polkadot is moving towards a more structured approach. Executive bodies, such as bounties and collectives, are emerging to assume departmental roles within the ecosystem. These bodies are responsible for security, data research, core functionality development, network operation, marketing, and business development activities. The key question now is how to establish effective structures quickly to guide Polkadot toward success. The solution, according to the blockchain’s treasury, is to delegate more responsibility to these executive bodies. These bodies are made up of competent individuals who evaluate new proposals and deliver value. Collectives, similar to subDAOs, have OpenGov capabilities and sub-treasuries to facilitate their work. By leveraging these executive bodies, Polkadot can outsource operational issues and mundane tasks, allowing OpenGov stakeholders to focus on making critical decisions. The effectiveness and performance of the executive bodies are evaluated, and budget allocations are negotiated with OpenGov based on the results. At the time of writing, DOT is trading at $6.35, representing a price recovery of nearly 4% in the 24-hour time frame. However, the 17th largest cryptocurrency by market cap is still down 10% over the past month. Featured image from DALL-E, chart from TradingView.com](/image/66835947e5523.jpg)
Polkadot Treasury Faces Impending Funding Crisis: Limited To 24 Months Before Exhaustion
The recent report released by the Polkadot Treasury for the first half of 2024 has raised concerns over an impending funding crisis. The report indicates that the Treasury’s assets, spread across multiple chains, have become increasingly complex and challenging to manage effectively. Decentralized finance (DeFi) researcher DeFi Ignas has analyzed the report, highlighting the Treasury’s limited runway of approximately two years at the current burn rate of $87 million every six months. Funding Concerns Mount For Polkadot Polkadot’s expenditure during the first half of 2024 paints a worrying picture. An extensive outreach program accounted for $37 million, aiming to attract new users, developers, and businesses. Additional expenses included $10 million on ads/sponsorships, $4.4 million on influencers, and $4 million on digital ads. Surprisingly, despite such expenditures, Polkadot’s visibility on social media platforms, including “Platform X,” remained notably low. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows The Treasury spent a total of $86 million in the past six months, managing $245 million (38 million DOT) in assets, with $188 million (29 million DOT) in liquid form. The burn rate indicates that the Treasury may face bankruptcy in less than two years. Polkadot’s token supply experiences a 10% annual growth, primarily fueling staking rewards. With a $10 billion market cap, stakers receive $1 billion per year, which significantly affects network security costs. However, a proposal to reduce inflation was rejected by 57% of the stakeholders, further compounding the Treasury’s financial challenges. New Governance Model The report reveals that direct fee revenue remains marginal for Polkadot. In 2023-H2, Polkadot generated 300,000 DOT through fees during a short-lived inscription campaign. Under regular conditions, fee revenue stabilizes at around 20,000 DOT per quarter. On the expense side, the report highlights a 2.4x increase in DOT spending compared to 2023-H2. Ambitious proposals and larger ask sizes contributed to this significant spending surge. Although the average DOT price rose, resulting in more value per DOT, concerns about the Treasury’s usage are mounting within the ecosystem. Related Reading: Dogecoin Could Eclipse $1 Mark This Bull Run, Predicts Analyst To address these challenges, Polkadot is moving towards a more structured approach. Executive bodies, such as bounties and collectives, are emerging to assume departmental roles within the ecosystem. These bodies are responsible for security, data research, core functionality development, network operation, marketing, and business development activities. The key question now is how to establish effective structures quickly to guide Polkadot toward success. The solution, according to the blockchain’s treasury, is to delegate more responsibility to these executive bodies. These bodies are made up of competent individuals who evaluate new proposals and deliver value. Collectives, similar to subDAOs, have OpenGov capabilities and sub-treasuries to facilitate their work. By leveraging these executive bodies, Polkadot can outsource operational issues and mundane tasks, allowing OpenGov stakeholders to focus on making critical decisions. The effectiveness and performance of the executive bodies are evaluated, and budget allocations are negotiated with OpenGov based on the results. At the time of writing, DOT is trading at $6.35, representing a price recovery of nearly 4% in the 24-hour time frame. However, the 17th largest cryptocurrency by market cap is still down 10% over the past month. Featured image from DALL-E, chart from TradingView.com NewsBTC