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Sead Fadilpašić
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Sead Fadilpašić
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In crypto news today:
- Crypto market is green today
- Analyst Warns Dogecoin Faces Tough Q2
- Tabit Insurance Raises $40 Million in Bitcoin
- Argo Blockchain Announces CEO and Director
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Crypto market is green today
The crypto market is back to green.
The global cryptocurrency market capitalization is up 1.1% over the past 24 hours, currently standing at $2.97 trillion.
At the time of writing, the daily crypto trading volume is $86.9 billion. It remains at a lower level than recorded over the past few months.
Only ten of the top 100 coins per market cap are red today. Entangle (NTGL) and Pi Network (PI) saw the highest decreases. They’re down 8% and 5.7% at the time of writing, trading at $0.001467 and $0.9444, respectively. The rest of the red list is down up to 2.5% per coin.
The best performers in this category are Render (RENDER), Sonic (S), and Avalanche (AVAX). These three saw double-digit increases of 14.4%, 12.4%, and 11.3%, respectively.
As for the top 10 coins, only one coin is red today. Tron (TRX) is down 2.5% to the price of $0.2283.
At the same time, the biggest gainer in this category is Solana (SOL), with a 7.1% increase to $143. It’s followed by Ethereum (ETH)’s 3.6% rise to $2,081.
Meanwhile, Bitcoin (BTC) appreciated 3%, currently trading at $87,316.
Analyst Warns Dogecoin Faces Tough Q2
Dogecoin (DOGE) has seen modest gains, but the broader crypto market volatility suggests a cautious outlook for the second quarter, says Fei Chen, Founder and CEO of the investment research platform Intellectia AI.
The technical chart on the weekly timeframe shows a bullish engulfing pattern, Chen says in an email. This signals strong momentum favoring buyers. However, the crypto market is highly volatile.
“While technical patterns are encouraging, they don’t account for external factors like regulatory changes and macroeconomic shifts that can significantly impact prices,” Chen opines.
At the time of writing, DOGE is trading at $0.17604. According to Intellectia.AI’s prediction, the coin will likely face a potential decline of -11.28% in the coming weeks. Therefore, the price would drop to the $0.155 range by early April.
Dogecoin sentiment is currently bearish, and the Fear & Greed Index turned to fear Therefore, the short-term bearish outlook aligns with broader market sentiment indicators, the comment states.
As for the key technical levels, Chen lists the support zones at $0.1726, $0.1691, and $0.1667, as well as the resistance levels at $0.1785, $0.1809, and $0.1844.
“Cryptocurrencies like Dogecoin offer exciting opportunities but come with significant risks,” says Chen. “It’s crucial for investors to balance their portfolios and not rely solely on speculative assets.”
Tabit Insurance Raises $40 Million in Bitcoin
Tabit Insurance, a Class 2 insurer licensed by the Barbados Financial Services Commission (FSC), announced the capitalization of its $40 million insurance facility, funded 100% by BTC. This is an industry first, says the press release shared with Cryptonews.
Notably, the $40 million in capital is verifiable on the blockchain in the manner of proof-of-reserves. This means that the regulators and auditors can constantly verify the funding in real time.
Therefore, this is “a distinctive and novel approach to transparency for the insurance industry” that exceeds quarterly disclosures typical of legacy insurers, the team says.
Tabit’s use of BTC offers a new source of capital for the insurance industry. The capital is held in BTC, while the insurance policies and premiums are denominated in USD.
The press release adds that, in addition to its proprietary capital deployment strategies in the insurance market, Tabit is organized as a segregated cell company.
This allows for additional cells to be formed to capitalize on “attractive returns in the insurance industry.” Subsequently, it enables Tabit to offer USD returns to other BTC holders via their own segregated cells.
Argo Blockchain Announces CEO and Director
London-based Bitcoin mining company Argo Blockchain has appointed Justin Nolan as Chief Executive Officer and Director.
According to the press release, Nolan was Chief Executive Officer at the digital infrastructure company Arkon Energy, as well as Chief Growth Officer at Argo. He helped expand the company’s operations, including the development of the Helios project.
Furthermore, prior to these positions, Nolan co-founded and led DPN LLC, which was part of the initial development of the Helios project before its acquisition by Argo Blockchain in March 2021, the team notes.
Furthermore, Argo has awarded 22,250,000 performance share units relating to its ordinary shares (PSUs) to Nolan. The PSUs vest over a three-year period, with the first vesting occurring twelve months from the date of grant.
Argo’s chairman Matthew Shaw commented that Nolan’s “industry expertise, strategic vision, and leadership in scaling mining operations, including his previous contributions to the Helios project, make him the ideal leader for our next phase of growth.”
Nolan added that he’ll work closely with the Board and stakeholders to “drive innovation, enhance efficiency, and create sustainable value for shareholders.”
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