Table of Contents
- Bitcoin NFT Sales Surge Past $870 Million
- Presale Rally for Meme Moguls (MGLS)
- Ethereum (ETH) Price Prediction in Q1 2024
Today, we look at Bitcoin's surprise emergence as the go-to platform for NFTs, Ethereum's recent price spike, and how Meme Moguls (MGLS) has reached another new all-time high during an ongoing presale event. Let's dive into the details.
Bitcoin's rise as the NFT platform of choice is a surprising turn of events. The leading cryptocurrency has always been seen as digital gold, with limited use cases beyond being a store of value.
So, when it came to NFTs, Solana was the obvious choice due to its smart contract capabilities and low transaction costs. However, recent data from CryptoSlam shows that Bitcoin's monthly NFT sales have surpassed $870 million, compared to Solana's $330 million in the same period.
Technically speaking, Bitcoin NFTs are not actually non-fungible tokens but rather a new concept known as Bitcoin Ordinals. Invented by Casey Rodarmor in 2022, Ordinals are inscriptions on an individual Bitcoin satoshi. Inscriptions can be text, videos, images, and even music.
The biggest Bitcoin Ordinal project is Ordinal Punks, with a current floor price of 1.75 BTC. However, some in the community believe that Ordinal Punks is just a derivative project of the original Punks project on the Ethereum chain. Another popular Bitcoin Ordinals project is NodeMonkes with a current floor of 0.225 BTC.
Meme Moguls redefines the play-to-earn landscape by blending the quirky world of memes with the high rewards of stock trading. This platform offers entertainment, educational insights into stock trading, and rewards at every turn.
Players are greeted with $100,000 in virtual funds to kickstart their trading journey, allowing them to learn the ins and outs of stock trading through a fun, gamified experience. The main goal of the game is to become the ultimate meme mogul and top the Wealth Leaderboard.
Meme Moguls offers a range of competitive formats, including public tournaments that allow players to compete against the wider community, customizable private tournaments, intense one-on-one duels, and the challenging "Beat the Market" mode, where players aim to outperform real-world financial indices.
The MGLS token offers real utility via staking rewards, governance participation, and access to special platform features. Currently, during the ongoing presale event, these tokens are available for $0.0027 after a 42% gain since the presale began.
Analysts note that the MGLS price is set to keep rising throughout the presale, so there's a chance for new participants to jump on before the next all-time high. These analysts also highlight that the memecoin market is worth more than $20 billion, so capturing even a fraction of this market could mean massive profits for early investors.
The Ethereum price has been sluggish compared to most big altcoins in the past 12 months. However, the leading layer-1 is up 2.50% in the last 30 days after breaking above the $2,130 resistance level. The $2,400 level remains the final resistance before Ethereum can attempt to break the all-time high.
While 2023 was Solana's year in the spotlight, 2024 could be a big year for Ethereum. The blockchain platform is in the process of upgrading to EIP-4844, which will introduce proto-danksharding for reduced fees and increased scalability.
There is also the possibility of a spot in Ethereum ETF this year. The SEC has until May 2024 to approve or deny applications from some of the biggest wealth managers in the world, including VanEck and Blackrock. Such a product could bring trillions of new capital into the Ethereum ecosystem and push its price to new heights.
Multiple analysts have an Ethereum price target of $10,000 by the end of 2024. The Q1 price of Ethereum largely depends on the approval of the potential Bitcoin ETFs this January, but the $3,000 level is a good target if Ethereum can finally surpass $2,400.
For more information about the Meme Moguls (MGLS) presale follow the link below:
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