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Bitcoin price is struggling to flip $48,000 to support, but the steady protocol developments taking place in DeFi projects could lead to further upside from DOT, LUNA, ATOM and FTT.
The analogy appeared in anticipation that Bitcoin could post a 2017-like bull run, in which the price rose by more than 1,900%.
Bitcoin will always be the boss, but the real innovative and groundbreaking developments are happening in layer-2 solutions, DAOs, NFTs with utility and the emerging Metaverse.
The rush to so-called safe-haven cryptocurrency appears despite concerns that the Federal Reserve would taper its $120 billion a month asset purchasing program.
Smart contract capabilities are rendering old-school megalithic crypto projects obsolete as blockchains evolve beyond just being a medium of exchange.
Analysts highlight the formation of a bull flag on the Bitcoin chart and suggest that the price could continue to consolidate until a major catalyst moves the market.
Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking.
Here’s how savvy traders booked front-row seats for last week’s 50% rally from LUNA and RAY.
AVAX price soared to a record high as heavy inflows enter the protocol through its cross-chain bridge and institutional investors pledge $230 million in funding for the rapidly expanding Avalanche…