Compass Point analyst Chris Allen on Tuesday has downgraded cryptocurrency trading platform Voyager Digital (OTCQX:VYGVF) to Neutral from Buy given broader headwinds in the decentralized space. Specifically, Allen pointed to prospects for increased regulatory scrutiny for crypto-focused firms, "particularly for those companies that offer lending products," he wrote in a note. As a result, the analyst has lowered 2023 EPS estimate to C$0.39 ($0.30) from C$0.53. He also cut his price target to C$8 from C$14, representing a 3.5x enterprise value/revenue multiple in 2022. Meanwhile, shares of VYGVF are rising in afternoon trading, as bitcoin (BTC-USD +2.9%) manages to hold modest gains over $30K. Earlier this week, (May 16) Voyager Digital Q3 earnings reflected user growth, but transaction revenue slid.
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4 Top Most Profiting Solana Meme Coins During This Halving
Today marks the last day before the 4th Bitcoin halving, which will cut the block reward from 6.25 to 3.125 BTC. As predicted by many, the crypto market has already gone through a correction zone. As a result, the majority of cryptocurrencies lost their current gains and entered a downward trend. However, today, the crypto The post 4 Top Most Profiting Solana Meme Coins During This Halving appeared first on CoinGape .
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Coin Center Asserts Stablecoin Bill Threatens Free Speech Rights
The digital currency advocacy group Coin Center has strongly opposed the Lummis-Gillibrand Payment Stablecoin Act, saying it ‘would impermissibly infringe upon constitutional rights.’ The bipartisan bill, which has the support of Senators Kirsten Gillibrand and Cynthia Lummis, is meant to regulate the payment of stablecoins. The lobbying group Coin Center claims the bill’s prohibition on The post Coin Center Asserts Stablecoin Bill Threatens Free Speech Rights appeared first on CoinGape .
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BlockDAG’s 30,000x ROI Outshines XRP & Uniswap Price
BlockDAG Takes Center Stage as Moon-Based Keynote Teaser Boosts Presale to $18.5M, Amid XRP & Uniswap’s Bearish Price Outlook As the XRP’s price struggles to sustain recovery and Uniswap (UNI) experiences significant price fluctuations, BlockDAG (BDAG) is making significant strides in the presale arena. Following the success of the first
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Bitcoin Accumulation: You Won’t Believe How Much BTC Holders Have Bought Since The Crash
Bitcoin holders have again reaffirmed their faith in the flagship crypto despite its recent price declines. This follows recent data showing that Bitcoin accumulation addresses recorded a new all-time high (ATH) amidst the current market downward trend. Accumulation Addresses Record New All-Time High Of Bitcoin Inflows Data from the on-chain analytics platform CryptoQuant shows that over 27,700 BTC was transferred into accumulation addresses between April 16 and 17. This is a new all-time high (ATH) for these addresses in terms of their daily Bitcoin inflows. Related Reading: Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’ Before now, the highest amount of BTC sent to these addresses in a day stood at 25,500, recorded on March 23 earlier this year. Interestingly, the March 23 record came just about a month after Bitcoin inflows into accumulation addresses hit an all-time high (ATH) of 25,300 BTC on February 21. Accumulation addresses are wallets with no outgoing transactions and have a balance of over 10 BTC. Accounts belonging to centralized exchanges and Bitcoin Miners are excluded from this category. Meanwhile, these addresses must have received two incoming transactions, with the most recent occurring within the last seven years. These addresses can be considered the most bullish on Bitcoin, and the growing accumulation trend from these wallets shows how much faith these long-term holders have in the flagship crypto. Furthermore, they are also believed to be positioning themselves ahead of the bull run, as BTC may never drop to these price levels once it comes into full force. Meanwhile, CryptoQuant’s CEO, Ki Young Ju, also highlighted the significance of this development, noting that on-chain accumulation has remained “very active” even as the demand for Spot Bitcoin ETFs has stagnated for four weeks. This suggests that Bitcoin bulls could help shore up the demand gap left open by these ETFs. BTC Price Shows Strength Bitcoin dropped below the $60,000 support level following reports about Israel’s retaliatory attack on Iran. However, the flagship crypto showed strength as it quickly rebounded above the $60,000 price mark. This is significant considering how much Bitcoin and the broader crypto market declined rapidly following Iran’s attack against Israel on April 13. Related Reading: XRP Whales Are On The Move Again, But Are They Bullish Or Bearish? Furthermore, the quick price recovery also suggests that Bitcoin has established strong support around the $60,000 price range and could be set for a parabolic move to the upside once this period of consolidation is over. Crypto analyst Crypto Rover also recently commented on Bitcoin’s future trajectory, stating that the crypto token will come out with a “banger” soon enough. At the time of writing, Bitcoin is trading at around $62,000, up in the last 24 hours according to data from CoinMarketCap. BTC price recovers above $64,000 | Source: BTCUSD on Tradingview.com Featured image from Crypto News, chart from Tradingview.com
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Bitcoin halving: Is Michael Saylor offloading MicroStrategy shares to buy BTC?
Michael Saylor, the Executive Chairman of MicroStrategy (MSTR) has sold 370,000 shares of the business intelligence firm, according to recent filings. The sale amounts to over $370 million and the executive’s Class A holdings are now down to 30,000 shares, as on Thursday. Saylor offloads MSTR, market participants speculate it is for Bitcoin purchases In
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