Shiba Inu (SHIB) and XRP are experiencing growth as the market recovers from a turbulent period that previously erased initial gains. Despite demonstrating positive trends, both cryptocurrencies are still prone to short-term fluctuations. In this environment, BlockDAG, a foundational layer 1 project, has attracted significant investment due to its prospective long-term benefits. The project has built investor trust following the introduction of its CEO and a robust team and advisory board with backgrounds in fintech, crypto, blockchain, and elite academic institutions like Harvard. The presale has impressively exceeded $62.5 million, fueled by heightened investor enthusiasm. With such promising indicators, BlockDAG is increasingly regarded as one of the top cryptocurrency investments.
Recent Market Behavior of Shiba Inu (SHIB)
Over the last week, Shiba Inu (SHIB) has seen a notable decrease of 9.33%, highlighting its susceptibility to rapid price changes. A significant increase in the activation of 90-day dormant SHIB tokens, jumping from 47.46 billion to 211.78 billion, has contributed to this drop. This movement suggests that long-term investors are selling their holdings, which exerts negative pressure on the cryptocurrency’s value.
Moreover, the inflow of SHIB tokens into exchanges has exceeded 1 trillion, signaling a strong selling trend as more tokens are being transferred to trading platforms. Presently, the price of SHIB stands at $0.000017, falling below its 20-day and 50-day exponential moving averages (EMAs). This current downward trajectory indicates a potential further decrease to $0.000016 unless it surpasses these average levels. Conversely, a recovery could elevate its value to $0.000021.
Recent Shores Up XRP Partnerships
There’s growing interest in XRP as SBI Holdings explores opportunities in the ETF sector, fueling talks about the likelihood of an XRP ETF. A collaborative endeavor between SBI Holdings, which holds a partnership with Ripple, and Franklin Templeton is on the horizon. They plan to launch a digital asset management firm by year’s end, with SBI Holdings controlling a majority 51% share and Franklin Templeton owning 49%.
Ripple’s Monica Long has expressed her backing for an XRP ETF, pointing out that XRP fulfills essential criteria for such a financial product. On the other hand, industry experts like Nate Geraci argue that the market may not yet be ready for an XRP spot ETF, suggesting that a futures-based ETF should precede it. Additionally, commentators such as The Bearable Bull anticipate record-breaking highs for XRP, propelled by events like its re-inclusion on trading platforms, the introduction of automated market makers (AMMs), and a potential IPO from Ripple.
BlockDAG Reveals All-Star Team
The recent announcement of BlockDAG’s leadership and advisory committee has markedly increased investor enthusiasm. This group of specialists in finance, cryptocurrency, and blockchain is headed by Antony Turner, the CEO and co-founder of SwissOne Capital. Turner’s extensive background spans more than two decades at the helm of various technology enterprises, including positions at SPIRIT Blockchain Capital Inc. and Axona-Analytics. The transparency and trust in the project were further bolstered by their introduction and an upcoming AMA on July 30th.
BlockDAG’s presale has impressively climbed to more than $62.5 million, with a staggering increase of 1540% in its price—from the initial $0.001 to $0.0164 in the 21st batch—highlighting robust investor interest and the project’s promising future. The rapid pace of development demonstrated by the team suggests that BlockDAG is poised to be a formidable competitor in the blockchain arena.
The expertise of Antony Turner in fintech and blockchain, combined with Chief Security Officer Youssef Khaoulaj’s profound knowledge in system security and smart contract auditing further solidifies the project’s standing. The advisory board, with distinguished members like Maurice Herlihy, offers vital strategic insights and support. Herlihy’s extensive experience in theoretical computer science and his involvement with Algorand significantly enrich BlockDAG’s resources. Together, the capable leadership and expert advisory board position BlockDAG as a top contender in the cryptocurrency market for 2024.
Key Insights
In the midst of a market recovery, BlockDAG (BDAG) distinguishes itself with its remarkable presale achievements and robust executive lineup. Following the introduction of its top executives and board members, coupled with a scheduled AMA on July 30th, BDAG’s presale escalated to $62.5 million. This surge represents a 1540% increase in value, climbing from $0.001 to $0.0164 by the 21st batch, positioning it as a prime cryptocurrency investment. In contrast, the volatility of Shiba Inu (SHIB) and the anticipated potential of an XRP ETF make BDAG a comparatively more stable option.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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