cryptocurrency
ZetaChain Price Prediction | Is ZETA a Good Investment?
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3 months agoon
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adminIn early August, the native token of ZetaChain experienced quite a rollercoaster ride.
On August 5, 2024, it dropped to a new all-time low of $0.3448. However, six days later, it surged over 50% to $0.7524 following the listing of ZETA tokens on Coinbase.
As of August 16, the token is trading at approximately $0.56, still well below its all-time high of $2.85 reached in February 2024. What’s next for ZETA? Will it surpass its previous high, and if so, when might that happen? Check out our ZetaChain price prediction for 2024-2030.
What is ZetaChain and what are its goals
ZetaChain is a public blockchain that supports Omnichain functionality, universal smart contracts, and messaging between any blockchain. It aims to create a seamless, multi-chain crypto environment where users and developers can easily move between blockchains, taking advantage of their unique features — like payments, DeFi, liquidity, gaming, art, performance, security, and privacy.
ZETA coin: what is it and how is it used
The ZetaChain native token, ZETA, is used to pay for gas fees on the network. ZETA also underpins cross-chain transfers, exchanges, messaging, and security within ZetaChain.
What are the expectations for ZETA in the near term and beyond?
ZetaChain crypto price prediction: short-term outlook
According to CoinCodex’s ZetaChain coin price prediction, ZETA’s price is expected to increase by 226.21%, potentially hitting $1.868596 by September 15, 2024.
As of August 16, 2024, the overall sentiment for the ZetaChain price forecast remains bearish, with 4 technical analysis indicators showing bullish signals and 18 indicating bearish trends.
ZetaChain price prediction 2024
DigitalCoinPrice, drawing from insights from investors and market experts, suggests that ZetaChain might soon surpass its old high of $2.85 and settle between $1.15 and $1.23 in 2024.
According to CoinCodex’s projections for ZetaChain, ZETA is forecasted to trade between $0.572827 and $2.97 in 2024. If it reaches the upper end of this range, ZETA could see an increase of 377.05%.
Wallet Investor’s ZETA price prediction is not so optimistic. The resource anticipates that by the end of 2024, this token could achieve a maximum price of $0.08065.
ZetaChain price prediction 2025
According to DigitalCoinPrice’s ZetaChain price prediction for 2025, the price of ZETA could fluctuate between $1.20 and $1.41, with the most likely value stabilizing around $1.33 by year’s end.
CoinCodex’s forecast for 2025 is consistent with its prediction for 2024.
Wallet Investor expects that by the end of 2025, ZETA could potentially trade at only $0.0777.
ZetaChain price prediction 2030
DigitalCoinPrice’s forecasts and technical analysis project that ZETA’s price could reach a new high of $3.77 or $4.01 by the end of 2030. The years between 2024 and 2030 are set to be pivotal for ZetaChain’s growth.
According to CoinCodex’s ZetaChain price prediction for 2030, ZETA’s price could range from $1.425203 to $2.31.
Should you invest in ZETA?
The future value of ZetaChain coin depends on various factors, including market trends and investor sentiment. While there are times when the price might seem poised to rise, the market’s unpredictability means it could also decline. Deciding whether to invest in ZETA should hinge on your personal comfort with risk and investment objectives. Whether you’re considering investing or holding back, take your time to weigh the risks involved.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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Bitcoin
BlackRock’s IBIT records largest outflow day as Bitcoin ETFs log third consecutive day of outflows
Published
4 hours agoon
November 6, 2024By
adminOn Nov. 5, BlackRock’s spot Bitcoin exchange-traded fund, BITB, recorded its largest net outflow day since inception, with $44.2 million leaving the fund.
Since its launch in January, BlackRock’s BITB has experienced only six days of outflows, with the previous largest single-day outflow of $36.9 million on May 1.
According to data from Farside Investors, the 12 spot Bitcoin ETFs recorded a net outflow of $116.8 million on Nov. 5, extending their outflow streak to three consecutive trading days. However, these outflows were significantly lower than the $541.1 million recorded on Nov. 4, which marked the second-largest outflow day for these investment products.
Across the sector, outflows were dominated by Fidelity’s FBTC, which saw $68.2 million withdrawn, leading the day’s redemptions. Other funds also posted notable outflows, including ARK Invest and 21Shares’ ARKB, which saw $12.5 million in redemptions, Franklin Templeton’s EZBC with $6 million, VanEck’s HODL with $3.9 million, and Valkyrie’s BRRR, which reported $1.3 million in net outflows.
In contrast, Biwise’s BITB was the only spot Bitcoin ETF to log net inflows, with $19.3 million entering the fund. Grayscale’s GBTC and several other spot Bitcoin ETFs saw zero flows for the day.
Bitcoin defies ETF outflows, surges to record high
Despite ETF outflows extending for a third day, Bitcoin’s price rose sharply overnight.
CoinGecko data shows Bitcoin (BTC) reaching an unprecedented $75,000 in a potential reaction to election news that former President Donald Trump might be gaining momentum in early voting.
The flagship cryptocurrency later retreated slightly, trading up 8.7% at $74,563 at the time of reporting.
Bitcoin’s performance has remained strong, especially following its previous all-time high of $73,797 set on March 14, though it has mostly traded below $70,000 for much of the year.
While Bitcoin ETFs experienced significant outflows, U.S.-based spot Ethereum ETFs had a quieter day, registering zero net flows on Nov. 5, according to Farside Investors. However, Ethereum (ETH) mirrored Bitcoin’s upward price momentum, gaining 6.7% to trade just above $2,600.
According to CoinGecko data, the global crypto market capitalization increased by 6.6% over the past day, reaching $2.58 trillion.
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Bitcoin
Bitcoin Could Rally to $80,000 on the Eve of US Elections
Published
13 hours agoon
November 5, 2024By
adminBitcoin has experienced wild price swings since Vice President Kamala Harris announced her candidacy for the U.S. Presidential election in July 2024.
The largest cryptocurrency attempted to test its previous all-time high of $73,738 on Oct. 29, 2024, with no success. Traders expect higher volatility closer to elections and in the aftermath of the event. Crypto prediction markets like Polymarket and Kalshi provide insight into crypto traders’ views.
Polymarket sees about $3.21 billion in trading volume as participants wager on the winner of the November elections. Harris’ opponent, former U.S. President Donald Trump, is a clear favorite, with 61.1% bets in his favor, on Polymarket.
Kalshi, a prediction market regulated by the U.S. Commodity Futures Trading Commission places the odds of Trump’s win at 56.8% against Harris’ 43.2%. The betting contract has drawn $234.98 million as of November 5, 2024.
The efficacy of betting markets in predicting a winner in the election remains debatable, however it sheds light on the sentiment among crypto traders.
Trump rallied crypto traders’ support with his pro-crypto approach to regulation, and speech at the Nashville Bitcoin Conference. The former U.S. President shared his plans for a national Bitcoin reserve and proposed making the States a world leader in BTC mining. The former President’s plan is that the U.S. will hold 100% of the Bitcoin in its possession.
Harris’ “Opportunity Agenda for Black Men” is a proposal that reflects the Vice President’s stance on crypto, while much detail is left out, it points at a measured approach to the asset class.
U.S. markets won’t be open late on Tuesday, as states tally votes, however crypto is a major exception and a Trump win could push Bitcoin closer to the $80,000 level according to data from BTC derivatives markets.
Derivatives data points at a run to the range between $60k – $80k
Deribit’s Bitcoin Volatility Index shows a consistent rise in volatility since September 26, 2024, however the metric failed to see a major move like one noted during President Joe Biden’s exit from the Presidential election, in July, and the U.S. markets correction in August.
For the weeks following the elections, data from Deribit exchange highlights the $60,000 to $80,000 range, as the one that collects the peak open interest, or outstanding futures contracts for both bullish and bearish bets of traders.
Bitcoin Spot Exchange Traded Fund inflow data from Farside Investors shows a net outflow of $541.10 million on Nov. 4. This marks the second consecutive day of institutional investors pulling capital from the asset, likely preparing for the volatility in the aftermath of the election.
Combining data from the prediction market and Farside Investors’ BTC ETF flows, it is observed that institutional investors expressed confidence in Bitcoin and increased their capital flow when the odds of a Trump win were higher, nearly 67%, on October 30. Bitcoin ETFs received a net of $893.3 million in inflows on the same day.
In March, (BTC) Bitcoin hit its all-time high of $73,738 in response to the large volume of capital inflow to U.S. based Spot Bitcoin ETFs. At the time of writing, on Tuesday, November 5, Bitcoin hovers around the $69,000 level, less than 10% away from the all-time high.
Technical analysis: Bitcoin eyes rally to new ATH
Key events since July 2024 have aided the price swings observed in Bitcoin. The BTC/USDT daily chart from TradingView shows BTC’s attempt to test its previous all-time high post Harris’s announcement of her proposal for crypto.
Derivatives data highlights the importance of the $60,000 to $80,000 range for Bitcoin price. The asset traded within this range throughout the events since July, with the exception of its August 5 decline to $49,000.
BTC is in a short-term uptrend, starting Aug. 5 and the token could extend its gains, forming higher highs and higher lows, post the eve of the elections, in the aftermath. Bitcoin’s previous all-time high at $73,738 is a key resistance and a successful break past this level could push BTC closer to its $80,000 target.
Bitcoin is still undervalued ahead of the election
Crypto.news talked to experts ti get insights on Bitcoin price.
“With the US Election taking place today, many believe that the price of crypto will be immediately swayed by the candidate who wins, since they have varying stances on the future of digital assets, with Trump historically being more inclusive of digital assets than Harris. While this may be true in the short term, traders should also consider that the price of crypto goes beyond what party directly supports and relies more heavily on policies they will implement around inflation, global political discourse, and the availability of investment opportunities within the digital assets space.”
BingX spokesperson
The BingX executive believes that the current cycle is one of the worst-performing ones, post the Bitcoin halving, leading to the belief that BTC is still undervalued.
“If we look at other market sentiment indicators, crypto-related stocks have been climbing, with MicroStrategy, and Robinhood both up in the month before today’s election. In general, the digital asset community should expect to see the price of digital assets rise solely based on historical indicators.”
“If the elected candidate is supportive of crypto, it could boost market confidence; if not, it could introduce some uncertainty. The uncertainty surrounding the election outcome could trigger market fluctuations. Investors should closely monitor election developments and market reactions and be prepared to manage risks accordingly.”
Ryan Lee, Chief Analyst at Bitget Research
“Politics is a secondary factor, and historical analysis suggests that one or two major catalysts typically drive bull markets.” Thielen explains how it would be absurd, “to assume that when Fed Chair Bernanke maintained low interest rates in 2011, your neighbor suddenly decided to use Bitcoin to buy contraband on the Silk Road exchange,” meaning looking for direct correlation between election outcomes and Bitcoin price reaction may be less than ideal.
Markus Thielen, CEO at 10x Research
The executive argues that the primary driver of the Bitcoin rally is the institutional adoption of BTC, sparked by BlackRock’s application for a Spot BTC ETF earlier this year.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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Blockchain
MANTRA partners with Libre Capital to facilitate tokenized money market funds
Published
1 day agoon
November 5, 2024By
adminLayer-1 blockchain MANTRA and United Arab Emirates-based tokenization platform Libre Capital aim to drive further adoption of tokenized real-world assets
On Nov. 4, MANTRA (OM) and Libre Capital announced a partnership leveraging their combined strengths to offer on-chain funds to MANTRA’s institutional or accredited users.
MANTRA stated that the collaboration would use its purpose-built RWA blockchain along with Libre’s tokenization and issuance capabilities. Together, they aim to provide on-chain access to investment opportunities in hedge funds, money market funds, and private credit funds.
According to details in the announcement, a new integration is what will help eligible institutional investors access the on-chain funds on MANTRA. This will be via Libre’s decentralized applications deployment dubbed “Libre Gateway DeFi dApps”.
Libre deploys this feature on integrated chains, allowing access to top-tier tokenized money market funds and others in a compliant way.
John Patrick Mullin, co-founder and chief executive officer of MANTRA said:
“With the addition of protocols like the Libre Gateway, MANTRA can better equip users with a best-in-class collection of tools to continue to grow the real-world asset economy.”
MANTRA Chain’s integration of Libre Gateway allows various benefits for the L1 platform’s users, including access to treasury management tools. Libre on the other hand will explore the RWA-specific infrastructure that the layer-1 blockchain network offers, Dr. Avtar Sehra, founder and chief executive officer of Libre, noted.
MANTRA Chain launched its mainnet in October and recently partnered with Google Cloud, which is a validator and infrastructure provider. One of the goals of the partnership is to bolster MANTRA’s real-world assets market via an accelerator program.
The RWA accelerator program will go live in the first quarter of next year.
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