The cryptocurrency market has grappled with heightened volatility during the second week of April 2024. Unsurprisingly, renowned cryptos such as Ethena (ENA), dogwifhat (WIF), and CORE witnessed a price dip. Although analysts maintain a bullish forecast on these cryptos, Algotech (ALGT) emerges as the best upcoming ICO, leveraging cutting-edge risk-management tactics to protect investments. Let’s dive into the prospects.
Ethena (ENA) Rolls Out Monthly Custodian Attestations for USDe
Ethena (ENA), the backbone of the stablecoin USDe, has taken a significant step towards enhancing transparency. On April 16, 2024, Ethena (ENA) announced that every affiliated depositary will provide attestation reports.
For context, the reports prove that the assets supporting USDe are securely held in non-exchange settings. Institutional-grade custodial services back these measures. Importantly, these reports will now be publicly accessible on Ethena’s (ENA) governance forum on a monthly basis.
The distribution of these reports is not just a one-time effort but a commitment to provide stakeholders with regular and detailed updates. These reports will comprehensively detail the nature and storage location of the assets supporting Ethena’s (ENA) stablecoin.
Meanwhile, on-chain metrics indicate that Ethena (ENA) declined by 21% in the second week of April, reaching as low as $0.95. Analysts reveal that Ethena’s (ENA) price action is attributed to heightened price correction.
On the other hand, market forecasts predict that Ethena (ENA) can surge to $1.4 by Q3 as the protocol attracts more users through its commitment to transparency and innovation.
Crypto Trader Profits Off dogwifhat’s (WIF) Market Decline
The crypto market witnessed a massive slump over the second week of April 2024, with most leading altcoins plunging by more than 10%. According to experts, Bitcoin’s (BTC) unprecedented decline to $62,000 caused a massive wave of volatility, with meme coins such as dogwifhat (WIF) dropping by 14% to reach $2.62.
Despite the market downturn, an astute trader seized a significant profit opportunity. On April 16, LookOnChain, an on-chain analytics platform, reported that a whale investor sold a massive 1.22 million dogwifhat tokens for 3.13 million USDC at $2.56 per WIF coin immediately after the market crash.
The whale initially amassed a significant dogwifhat position by purchasing 8.67 million WIF tokens. Notably, the whale purchased the WIF tokens at an average price of $0.15 between December 28, 2023, and January 12, 2024. As dogwifhat’s (WIF) value soared, the whale cashed in on the profits, selling off 1.67 million WIF tokens at an average price of $1.93 on January 23 and April 13.
Moreover, the whale still holds a substantial 7 million WIF tokens, valued at an impressive $18.88 million. Overall, the trader has realized an incredible $20.78 million in profits from their dogwifhat (WIF) transactions.
Meanwhile, analysts predict that dogwifhat (WIF) can skyrocket to $4.5 by Q3 as Bitcoin (BTC) is expected to rebound to $70,000 in the coming weeks. The bullish price forecast is also linked to dogwifhat’s (WIF) forthcoming partnerships and upgrades, cementing dogwifhat (WIF) as one of the best coins to buy now.
Investor Interest Shifts Toward Algotech (ALGT) Amid Massive Presale Momentum
Amid the crypto market’s recent downturn, investors are searching for a profitable crypto trading platform that optimizes returns while minimizing risks. Fortunately, Algotech (ALGT) is the new presale crypto that utilizes algorithmic strategies to empower traders to navigate the complex crypto market efficiently.
Algotech’s (ALGT) trading tactics involve thorough data analysis and quantitative research. By utilizing both historical and real-time market data, these strategies can make well-informed trading decisions based on objective and evidence-backed analysis.
As the best presale token, Algotech (ALGT) collaborates with top cryptocurrency exchanges, offering traders effortless connectivity and access to an extensive array of trading pairs. These integrations empower traders to execute trades directly from Algotech’s (ALGT) platform, simplifying the trading experience and reducing execution delays.
Here’s the best part: Algotech (ALGT) has marked a notable step in its presale journey by advancing to Stage 3 of its public presale. Additionally, the decentralized blockchain network has introduced an enticing giveaway program, offering attractive rewards such as a crypto finance kit, crypto education, an iPad, and an iPhone.
ALGT tokens are currently valued at $0.08, but industry experts predict that once the presale ends, they will surge by 87.5% to $0.15.
CORE Unveils Collaboration With Web3 Solutions Provider
On April 9, ZAN, a platform known for its Web3 security solutions, revealed a new partnership with CORE. As per CORE’s announcement, the partnership aims to establish a secure and decentralized environment for dApps operating on CORE’s protocol. Notably, this collaboration also intends to bolster decentralization in the Asia-Pacific region.
Interestingly, the announcement follows the rapid expansion of CORE’s blockchain network. For context, Core Foundation recently unveiled the Wizard Gallery, an innovative NFT marketplace designed for seamless trading and minting of NFTs.
According to experts, CORE’s partnership with ZAN is expected to fuel the platform’s growth and potentially attract more users to the network. Although the strategic partnership made headlines, CORE plunged by 2.1% in the second week of April, reaching $2.33.
Analysts reveal that increased market volatility negatively influenced CORE’s price action. However, CORE is expected to surge to $4 by Q3 as the network gears up for several network enhancements in the coming months.
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