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TRUMP Defies Market Correction With Double-Digit Surge, BTC Falls by $2K (Market Watch)

Following a few consecutive days of charting gains and multi-week peaks, bitcoin’s price movements have finally reversed, and the asset has corrected by around two grand. Most altcoins have followed suit, aside from TRUMP, which exploded after it became known that the top 220 holders will have a special dinner with the US president. BTC Rally Halts The past week was quite sluggish for BTC, as the asset spent most of the time in a tight range between $83,000 and $86,000. All attempts for a breakout in either direction were halted in their tracks. The weekend was similar, with little to no actual price moves. The situation started to change on Monday morning when BTC finally broke above the upper boundary and jumped above $87,000. After a brief correction, it went on the offensive once again on Tuesday by surging past $90,000 for the first time since early March. The gains continued on Wednesday when bitcoin added another four grand and exceeded $94,000 to mark a new multi-week peak. However, after jumping by almost ten grand within a few days and $20,000 since the low on April 7 and 9, BTC, perhaps expectedly, started to lose some ground. As of now, the asset trades around $92,000 after losing just over two grand since the local peak. Its market cap has retraced to $1.825 trillion on CG, but its dominance over the alts is well above 61% on CG. BTCUSD. Source: TradingView TRUMP Shoots Up The biggest news in the cryptocurrency space yesterday came from the US president’s team as the Official Trump (TRUMP) website stated that the top 220 holders of the meme coin will attend a special dinner with the POTUS. Naturally, the asset’s price skyrocketed as investors rushed to buy it . On a daily scale, TRUMP is up by nearly 30% but it went even higher yesterday. In contrast, most other altcoins have turned red today. XRP, DOGE, HBAR, and PEPE lead the pack from the larger-cap alts, while IMX has lost the most value from the mid-caps. The total crypto market cap has lost around $80 billion since yesterday’s peak to under $2.970 trillion. Cryptocurrency Market Overview. Source: QuantifyCrypto The post TRUMP Defies Market Correction With Double-Digit Surge, BTC Falls by $2K (Market Watch) appeared first on CryptoPotato . CoinOtag

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Cardano (ADA) Founder Criticizes Ethereum (ETH) "Gave It 15 Years!"

Although Ethereum (ETH) is currently far from its 2021 ATH of close to $5,000 and has recently attracted attention with its weak performance, it continues to be the second largest cryptocurrency in the market with its strong stance for years. While ETH is struggling with many rival altcoins in this process, many names say that it will not survive. Finally, one of them was Cardano founder Charles Hoskinson. Cardano founder likened Ethereum to BlackBerry in a recent AMA session, claiming that it could disappear within 15 years. Charles Hoskinson likened Ethereum to the smartphone manufacturer Blackberry, which once perished due to the success of Apple`s iPhone. Hoskinson, who is also one of the Ethereum co-founders, said the Ethereum Foundation (EF) did three things wrong. First, Ethereum has the wrong protocols, according to Hoskinson. “They have the wrong accounting model, they have the wrong virtual machine, they have the wrong consensus model. The current protocol that Ethereum uses for proof of stake is wrong,” Hoskinson said. Secondly, he criticized Ethereum Layer-2s and argued that these projects are taking away Ethereum’s economy and main chain activity. Describing L2s as a parasite for ETH, the Cardano founder said, “L2s will continue to suck all the alpha from the main chain. L2s will eventually stop fighting and it will become increasingly difficult for Vitalik to keep them together.” Finally, Hoskinson noted that the Ethereum Foundation lacks a robust on-chain governance system that would be needed to effectively address the issues he cited. For all these reasons, Hoskinson claimed that users will eventually migrate to other platforms and Ethereum will not survive the next 10 to 15 years. *This is not investment advice. Continue Reading: Cardano (ADA) Founder Criticizes Ethereum (ETH) "Gave It 15 Years!" CoinOtag