Crypto markets are sprouting back in the green, after enduring several gruesome days, following Bitcoin’s retracement from its 11-month high above $31,000. Fear spread across the market, as analysts predicted a possible return to $22,000 while forecasting much bigger declines for altcoins.<\/p>\n
Meanwhile, Bitcoin price is back above $29,000<\/a> on Wednesday despite growing uncertainty in connection to First Republic Bank in the United States.<\/p>\n As per the data provided by CoinGecko<\/a>, BTC climbed to an intraday high of $29,173 earlier in the day before pulling back to trade at $28,970 in the European session.<\/p>\n The largest crypto is up nearly 6% in 24 hours after rebounding from critical support strengthened by the 50-day Exponential Moving Average (EMA).<\/p>\n On-chain data from Santiment<\/a> attributes BTC’s rebound to rising social dominance, which often occurs when the market is gripped in euphoria – fear in this case.<\/p>\n “With #Bitcoin continuing to stay relatively flat while #altcoins fall, the percentage of discussions revolving around $BTC remains well above average. Generally, high social dominance for Bitcoin happens during market euphoria or (in this case) fear. Prices can rebound quickly,” Santiment said via Twitter.<\/p>\n San Francisco-based First Republic Bank shares plunged on Wednesday as markets opened following a dismal performance, as seen in the company’s quarterly report.<\/p>\n The bank has been hanging on a loose thread following more than-expected withdrawals surpassing $100 billion in March, which sparked fears of bankruptcy.<\/p>\n The banking sector in the US is barely out of the woods, considering three banks collapsed last month. Unexpectedly, cryptos remain stable during the crisis, with Bitcoin and Ethereum exhibiting stellar performances.<\/p>\n While the Bitcoin rally may not clear the industry and the market as safe for investment, investors like Arthur Hayes, BitMEX CEO believes digital assets can serve as a hedge against the conventional banking system.<\/p>\n “Everyone is going to take an ‘L’ unless they get some crypto or some gold—some hard asset that’s outside of the traditional banking system,” Hayes said in a statement.<\/p>\n For that reason, InsideBitcoins.com<\/a> is introducing to you some of the best-performing crypto presales<\/a> of 2023 which investors are capitalizing on to diversify their portfolios.<\/p>\n The tokens listed here are not only new projects, they are providing Web3 solutions to some of the world’s most challenging problems like climate change.<\/p>\n By offering the tokens in the presale, LHINU, DLANCE, and ECOTERRA have the potential to rally after debuting on exchanges just like other projects that the InsideBitcoins.com team<\/a> has reviewed in the past, including Tamadoge (TAMA), FightOut (FGHT) and IMPT (IMPT).<\/p>\n Render Token (RNDR) bulls are finally off the hook after unanimously defending support at $0.64, a move that allowed them to push for the resumption of the uptrend. RNDR is now trading at $2.32 following a 28% bullish move.<\/p>\n The ongoing surge in the value of RNDR can be attributed to a successful vote by the community on RNP-002 and RNP-003. These two votes were crucial for the network’s overall architecture.<\/p>\n With the adoption of RNP-002, Render Foundation can now proceed with introducing the BME model on the Solana blockchain.<\/p>\n Unlike Ethereum, Solana boasts high processing speeds, which enables thousands of transactions to be carried out per second, and a transaction cost of less than $0.01.<\/p>\n Render aims to leverage these features to help users work more efficiently and save on transaction costs.<\/p>\n On the other hand, the RNP-003 vote allows the Render Foundation to acquire and allocate resources to help scale the ecosystem. Moving forward, these votes will be updated to “Approved” and included in the roadmap.<\/p>\n The RNP voting process for RNP-002 and RNP-003 has officially come to an end!<\/p>\n Here are the results and what they mean for the future of the Render Network.🧵<\/p>\n — The Render Network (@rendernetwork) April 26, 2023<\/a><\/p><\/blockquote>\nRender Token Blasts 28% To $2.4<\/h2>\n
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