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Digital Currency Group Names Subsidiary To Promote Bittensor

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4 months ago

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Crypto venture capital firm Digital Currency Group (DCG) is looking to promote the development of Bittensor (TAO), a decentralized Artificial Intelligence (AI) protocol. The firm aims to achieve this goal through Yuma Group. This outfit will join its list of subsidiaries, including Grayscale Investments.

The Major Bittensor Catch

As the companies announced, Yuma is dedicated to driving development on Bittensor. It hopes to empower developers to create, train, and access AI. The DCG founder and CEO Barry Silbert will also lead the new subsidiary in driving its vision to promote AI and crypto integration.

Although the Digital Currency Group first invested in Bittensor in 2021, its relationship has grown deeper since then. The firm said it named Yuma to conform with Bittensor’s “Yuma Consensus” protocol. This smart contract protocol makes it possible to incentivize creator’s participation with the TAO, a token known to weather geopolitical storms.

Through Bittensor, innovators can create Subnets, a marketplace for unique AI/ML services including but not limited to data storage. As a functioning ecosystem, the protocol hosts both miners and validators. While the former contributes computational power to protocol, the latter asseses contibution quality and shares the rewards.

Yuma Group has created an early subnet incubator program from which it can help firms looking to create new AI-focused solutions. Thus far, it has partnered with  Sturdy, Masa and Infinite Games. The Yuma subnet program entered the limelight in collaboration with Foundry.

Notably, Barry Silbert said he considers the innovations around Bittensor to the early days of crypto.

Digital Currency Group in The Crypto World

DCG is known as one of the biggest crypto project investors in the industry. While the crypto winter took a toll on the firm through Genesis, it has remained largely operational.

Grayscale Investments played a crucial role in bringing spot Bitcoin ETF products into the market. While its Bitcoin ETF and Ethereum ETF products are less popular considering their regular outflows, they are still a favorite of top institutional investors.

As reported earlier, the Michigan Pension Fund disclosed its exposure to Grayscale’s Ethereum  ETF products. Digital Currency Group has weathered enough storms over the past years and Silbert reiterated his confidence in helping Bittensor “transform our the world with open access to intelligence.”

 

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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MUBARAK Coin Price Soars 22% Amid This Binance Announcement, What’s Next?

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1 hour ago

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March 17, 2025

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MUBARAK coin emerged as the latest hot buzz of the crypto sector, securing a prominent mark on traders’ and investors’ radars amid Binance founder CZ’s involvement in the meme coin. CZ recently hinted that he is Mubarak, a shilling cryptic move that sent shockwaves across the meme crypto industry. Now, with the crypto exchange titan itself revealing plans to launch a perpetual contract for the token, market sentiments over the crypto’s price prospects have turned highly bullish.

Notably, MUBARAK price is currently up 22% intraday in the wake of Changpeng Zhao spotlighting the token, further escorted by the CEX’s futures listing.

Mubarak Coin Gains Traction As It Secures Binance Listing

According to an official announcement dated March 17, Binance futures is launching a MUBARAKUSDT perpetual contract today at 13:30 UTC. The platform’s colossal user base remains primed to enjoy up to 25x leverage trading the new token.

This announcement by one of the top crypto exchanges ignited optimistic waves, paving the way for further investor interaction with the new asset. As market participants look to capitalize on emerging opportunities, a gush of money inflow into this meme token remains anticipated.

In turn, bullish market sentiments about MUBARAK coin’s price prevail across the broader market.

Is Binance’s CZ Mubarak?

CoinMarketCap’s data about this new token reveals that “CZ just subtly acknowledged that he’s Mubarak,” a cryptic move that sparked market discussions globally. On the other hand, a recent CoinGape report spotlights that CZ also bought $600 worth of the new meme coin, sparking a market frenzy.

When coupled with Binance’s futures listing, these developments add an extra layer of market optimism to the new token.

What’s More In The Listing Announcement?

Apart from enhanced trading support for MUBARAK coin, the crypto exchange behemoth unveiled Bubblemap’s (BMTUSDT) perpetual contract with up to 25x leverage. This announcement triggered 43% gains in the asset, reaching $0.1289, as indicated by the intraday trading chart.

MUBARAK Price Surges Over 20%

As of press time, MUBARAK price witnessed a 22% pump and exchanged hands at $0.09902. Notably, the coin hit an intraday peak of $0.1458, which was in sync with Binance’s announcement. Further, traders reacted positively to the abovementioned developments, as signaled by a 120% increase in the asset’s intraday trading volume to $165.45 million.

More Support From Binance?

Simultaneously, it’s noteworthy that in a previous announcement on Binance Alpha, the crypto exchange revealed support for the Mubarak coin. Binance Alpha is a platform featuring tokens that can be potentially considered for listings on the exchange moving ahead.

Overall, traders and investors anticipate potential gains in this newly launched token amid rising market demand and interest.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Price Mirrors Gold’s 1970 Rally – A Six-Figure BTC Target of $250k Next?

Published

7 hours ago

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March 17, 2025

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Years after its inception, growing adoption and price rallies, Bitcoin gained the tag of the ‘digital gold.’ However, other than the name, there wasn’t much similarity until recently, as it began following the gold’s historical bull run pattern from the 1970s. With BTC trading at $83.2k and Gold near $3k, the parallel pattern between the two assets cannot be ignored.

If BTC moves on this bullish pattern, experts believe it could reach the anticipated six-figure $250k target. Let’s discuss the Bitcoin Vs gold trajectory and what this means for investors.

Bitcoin Vs. Gold: Bitcoin Price Mirrors Gold’s 1970s Bullish Pattern

In the mid-1970s, gold experienced a massive breakout after years of price consolidations. At that time, it resulted in exponential growth, and interestingly, Bitcoin went through a similar accumulation phase, followed by a period of consolidation.

More importantly, the Bitcoin Vs Gold chart analysis presents the Bitcoin price in the exact position that gold was before its explosive rally or bull run. Other than that, the major resistance levels have been tested multiple times, signaling an upcoming breakout.

Bitcoin Vs GoldBitcoin Vs Gold

Not to forget, the growing institutional adoption and U.S. Strategic Bitcoin Reserve formations show a similar influx of demand as with gold before its historic surge.  As a result, investors anticipate an exponential rally to a six-figure high of $250k.

If the gold’s trajectory is followed, BTC can break out beyond $100k, as it has already set an ATH at $109k earlier. An extended Bitcoin bull run could push it towards $250k in the upcoming years.

Interestingly, many analysts and trading tools have shared similar Bitcoin price predictions, increasing the credibility of this Bitcoin vs gold pattern.

Bitcoin Price Chart Forms Descending Broadening Wedge, What’s Next?

Although the long trajectory for BTC remains optimistic, the current scenario is in a tough spot. The token currently trades at $83.2k and stands 24% away from its ATH per CoinmarketCap.

Interestingly, the BTC price chart was forming a bullish pennant pattern before but now has turned into a descending broadening wedge per analysts on the 1-hour time frame.

As a result, this indicates the increased volatility and the possibility of the breakout only if it breaks the resistance at $84.1K. The key resistance is $84.1k, so a breakout above this could trigger a rally. In addition, the key support is at $81k, so the maintenance of this level is crucial.

Bullish Pennant turned into Descending Broadening Wedge in 1h TF chart. Bulls need to clear the 84.1k resistance to confirm the breakout. I’m still bullish, says crypto analysts Captain Faibik

Bitcoin price predictionBitcoin price prediction

Interestingly, once the BTC crosses over the resistance, it could hit $86k-$88k in the short term and six figures in the long term.

Conclusion: Bitcoin to Hit Six Figures with Gold’s Bullish Pattern

The Bitcoin price action is similar to gold’s actions in the 1970s, which resulted in one of the biggest rallies. Further continuity of this pattern will result in a breakout. However, this is based on recent stats, so the trajectory may change with upcoming macroeconomic events like the U.S. Fed decision and market performance.

So, investors must cautiously analyze BTC’s trajectory, especially as it is in a descending broadening wedge pattern, where it needs to clear $84.1k to confirm the bullish uptrend.

Frequently Asked Questions (FAQs)

Bitcoin has followed similar price actions as gold did before its 1970s bull run, including accumulation and consolidation phases.

BTC currently trades at $$83.2k after following the descending broadening wedge pattern, pushing it into a temporary downtrend.

The key resistance for BTC lies at $84.1k, and a breakout above this could ensure an uptrend, but a collapse below the key support of $81k could result in a crash.

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Pooja Khardia

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Rebounds Ahead of FOMC, Macro Heat Over?

Published

1 day ago

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March 16, 2025

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The crypto market concluded yet another week, primarily sparking investor optimism with recovering price trajectories. Bitcoin (BTC) price recovered from a $76K low to reach $84K right ahead of the U.S. FOMC next week. Whereas, major-league altcoins also mimicked price gains. The global cryptocurrency market cap again embarked upon a trajectory towards the $3 trillion mark as the week comes to an end.

Mentioned below are some of the top crypto market updates reported by CoinGape Media over the past week.

Crypto Market: Bitcoin Advancements This Week

The flagship crypto has witnessed significant developments over the past seven days, keeping investors optimistic despite price turbulence. Notably, global financial services firm Cantor Fitzgerald launched a $2 billion Bitcoin financing business, partnering with Anchorage Digital and Copper for secure institutional access.

On the other hand, Cathie Wood’s Ark Invest expanded its Bitcoin holdings, accumulating 997 BTC worth $80 million via Coinbase this week.

Also, despite the recent market turmoil, 95% of investors in the U.S. spot Bitcoin ETFs continue to hold onto their holdings. As a result, market watchers continue weighing optimism over long-term price prospects.

It’s also noteworthy that the Singapore Exchange (SGX) is planning to launch Bitcoin futures contracts shortly ahead.

Moreover, Deutsche Boerse’s post-trade unit Clearstream plans to launch Bitcoin & Ethereum custody services by the end of this year. Mentioned above are the top crypto market updates orbiting Bitcoin over the past week.

Are Prices Bracing For Macro Events?

Meanwhile, the broader market shows a recovery-like trend ahead of the U.S. FOMC next week. Set to occur on March 19, the monetary policymaking decision remains much eyed by investors globally.

Market-wide expectations of unchanged interest rates by the U.S. Fed prevail at the moment. Also, the latest U.S. CPI data indicated cooling inflation, offering some support to risk assets. In turn, traders and investors speculate whether a price recovery is possible after the turmoil caused by Donald Trump’s tariff saga.

Global markets, including crypto, took severe heat previously, although recent price actions signal that a recovery and bull cycle continuation might be on the horizon.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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