China to Launch Bitcoin Reserve? These Altcoins Could Soar as The Nation Plans to Lift Crypto Ban

Monicah W

The post China to Launch Bitcoin Reserve? These Altcoins Could Soar as The Nation Plans to Lift Crypto Ban appeared first on Coinpedia Fintech News

China is making moves that could impact the entire cryptocurrency market. There are reports suggesting that the country is considering launching a strategic Bitcoin reserve and may soon lift its crypto ban. This has created buzz, especially for altcoins tied to Chinese blockchain projects, as they stand to benefit from the country’s growing interest in digital assets. Hashkey CEO recently said, “I think there is the possibility the mainland China government will reconsider their stance towards the crypto and Web3 industry.”

China’s Shift Toward Crypto

China’s push into cryptocurrency seems driven by its desire to compete with the U.S. and strengthen its position globally. As more countries embrace digital currencies, China wants to lead the way in crypto and blockchain technology.

Experts believe that when China lifts its crypto ban, a significant amount of money will flow into Chinese tokens. Analyst Tracer explains, “In a positive scenario, their liquidity will first flow into China-related tokens,” potentially sparking a rally in altcoins connected to Chinese blockchain projects. This presents a great opportunity for investors to get ahead of the curve.

Top Chinese Altcoins to Watch

Aethir (ATH) – A project focused on building decentralized GPU computing infrastructure. With a market cap of $275.77M, it’s one to watch as liquidity pours into China-related tokens.

Zilliqa (ZIL) – A high-speed blockchain designed for scalability, Zilliqa is ready to take off when China’s crypto ban is lifted. It has a market cap of $257.15M and is set to benefit from increased demand.

Neo (NEO) – Known as the “Chinese Ethereum,” Neo is one of the country’s most established blockchains. With a market cap of $578.91M, Neo could see growth as China’s crypto industry expands.

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Bitcoin Price Regains $91k After Seven Weeks: Top Reason Bulls are Ruling the Crypto Market

Bitcoin Price Prediction for Today BTC Recovering Despite Mantra Rug-Pull

The post Bitcoin Price Regains $91k After Seven Weeks: Top Reason Bulls are Ruling the Crypto Market appeared first on Coinpedia Fintech News

  • The Bitcoin’s fear and greed index surged from 37%, representing fear, to 47%, indicating neutral, in the last 24 hours.
  • Technical and fundamental analysis suggest the crypto market will gain bullish momentum ahead.

Bitcoin (BTC) price led the wider altcoin market in recording gains in the past 24 hours. For the first time since the March 4 selloff, Bitcoin price rallied over 5 percent in the past 24 hours to trade above $91.3k on Tuesday during the mid-North American session. 

The wider altcoin market signaled bullish sentiment, thus the total crypto market cap gained over 3 percent to hover about $2.95 trillion at the time of this writing. Following the heightened volatility, more than $348 million was liquidated from the crypto-leveraged market, mostly involving short traders.

Forecasted Behind Bitcoin and Crypto Pump Today

Renewed Demand from Whale Investors

As gold price rallied to a new all-time high of about $3.5k/oz earlier on Tuesday, on-chain data shows whale investors have shifted focus on Bitcoin and selective altcoins. The renewed demand for Bitcoin and the altcoin market, by whale investors, significantly catalyzed bullish sentiment. 

Notably, the U.S. spot BTC ETF issuers recorded a net cash inflow of more than $381 million, possibly signaling an end to a longstanding dry spell.

Rising Open Interest (OI)

According to market data from Coinglass, the total crypto Open Futures (OI) increased by about 13 percent in the last 24 hours to hover about $120 billion. Bitcoin’s OI surged by over 16 percent in the past 24 hours to hover around $69 billion at the time of this writing.

Macroeconomic Tailwinds

The wider crypto market gained a bullish outlook on Tuesday, partially catalyzed by notable gains in major stock indexes. The Dow, S&P 500, and the NASDAQ indexes had gained at least 2 percent during the mid New York trading session.

The improving negotiations of the global trade war played a crucial role in the bullish outlook.

What Next?

From a technical analysis standpoint, BTC price is well positioned to rally towards a new all-time high in the near future. According to Standard Chartered’s Geoff Kendrick in a note to investors on Tuesday, BTC price could rally to a new all-time high if concerns over the Federal Reserve’s independence persist.

The post Bitcoin Price Regains $91k After Seven Weeks: Top Reason Bulls are Ruling the Crypto Market appeared first on Coinpedia Fintech News
The Bitcoin’s fear and greed index surged from 37%, representing fear, to 47%, indicating neutral, in the last 24 hours. Technical and fundamental analysis suggest the crypto market will gain bullish momentum ahead. Bitcoin (BTC) price led the wider altcoin market in recording gains in the past 24 hours. For the first time since the …

Trump Family is Reportedly Launching a Crypto Game Inspired by Monopoly

Donald Trump’s broader circle and business avenue is reportedly planning to launch a crypto game based on Monopoly this month. Trump is a longtime fan of the game, launching an officially licensed spinoff in 1989.

Bill Zanker, who helped Trump launch NFTs and his TRUMP meme coin, is spearheading development. However, the community response is skeptical, as very little information about the crypto element is public.

Trump Is Launching a Crypto Monopoly Spinoff

The intersection of blockchain and gaming has a wide variety of uses, from Tap-to-Earn tokens to NFT use cases and more. A surprising addition to this space is coming soon, as a new report claims that Trump’s family will launch a crypto game loosely based on Monopoly soon.

The exact details are somewhat hazy, but reporters have managed to identify a few key facts. This Monopoly game is being spearheaded by Bill Zanker, a longtime Trump associate who worked with him to launch his NFTs in 2023 and was also involved in the TRUMP token.

It’s unclear when the two renewed their partnership, but the game is set to release this month. Anonymous sources claimed that players will earn in-game cash, which is presumably where the crypto element comes in.

Both developers quoted directly compared this game to Monopoly, and its rules will likely match up. Further reports suggest that Zanker is looking to buy the IP rights for the 1980s Trump Monopoly spinoff board game.

trump monopoly game
Trump 80s Board Game. Source: Vox

In other words, this IP question could present a possible difficulty if Monopoly’s owners don’t license another spinoff to Trump. Even if the crypto game doesn’t bear any Monopoly branding, Hasbro could sue if the gameplay is substantially similar.

So far, the online crypto community’s response has been incredulous. Users called Trump’s crypto-themed Monopoly spinoff a “joke,” an attempt to “max extract” value from his supporters, and called developers “the largest manipulators ever.”

Even if retail investors have potential upside, there seems to be a narrow window for gains.

“Are we about to witness another Trump family rug? Apparently, Trump’s a big fan of Monopoly. Zanker claims it’s not a MONOPOLY GO! clone — but confirmed the game is real and set to launch end of April. Incoming circus or giga pump?” said one user.

It’s difficult to determine the potential impact of this game on crypto, as we have basically no information about its tokenomics. For example, in Monopoly, users have to spend in-game currency to play.

Will that be a major component of Trump’s version? Will the in-game currency include the TRUMP meme coin? How will users extract value? These details will likely remain unanswered until an official announcement.

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