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10x Research: Are Ethereum and Bitcoin Good Investments? BlockDAG X1 mobile mining app attracts attention during the TON token surge
As cryptocurrencies redefine financial landscapes, Ethereum and TON tokens show significant activity in the market. Ethereum faces scalability challenges impacting its market position, while the TON token leverages strategic partnerships to climb the market cap rankings. In the midst of these fluctuations, BlockDAG stands out with its solid roadmap and upcoming X1 mobile mining application, positioning itself as a substantial player in making cryptocurrency mining more accessible and efficient, potentially leading to a notable market impact by 2025.
The collapse of Ethereum prices and the shadow on Bitcoin
The 10x Research report raised concerns about Ethereum’s underlying issues impacting its ecosystem and Bitcoin, given their close correlation. Once considered revolutionary for banking, Ethereum now struggles with scalability issues, while Bitcoin represents the digital gold standard. Their high correlation, with an R-squared of 95%, suggests that Ethereum’s difficulties could hinder Bitcoin’s ability to attract fiat investment.
Additionally, the price of Ethereum has plummeted, made worse by the liquidation of FTX and hackers laundering money via Tornado Cash. Currently below the critical level of $3,132.80, Ethereum’s outlook is bearish with a potential drop to $2,905.30 unless it rebounds above this crucial point.
Additionally, bankrupt FTX has accelerated its Ethereum sales, liquidating more than $12 million this week. Significant hacks involving Poloniex and Kronos Research saw large amounts of ETH moved to Tornado Cash for laundering, underscoring persistent security issues in the cryptocurrency industry.
TON’s path to a $21 valuation
Moving on to another major player, the TON token has entered the top 10 crypto tokens by market capitalization. TON’s rise, fueled by its integration with Telegram, active community involvement and the prospect of a Telegram IPO in March 2024, has led to a 170% price increase this year. A favorable technical setup suggests further potential gains.
Specifically, the price of TON has formed a “bullish pennant,” indicating a possible continuation of its upward trend. This pattern, characterized by converging trend lines and lower trading volume, could push the price up 256% to around $21 if supported by increased volume.
However, recent profit-taking slightly decreased the price of TON on May 6. The 20-day EMA is key to maintaining the bullish trajectory, and with the RSI at a neutral level of 53.6, there is room for growth towards the resistance at $6.4 and potentially $7.
BlockDAG’s X1 app for efficient, on-the-go mining
By moving to BlockDAG, the company has successfully raised over $25.4 million cryptocurrency presale, which is targeting a $600 million goal, supported by its detailed roadmap and early-stage developments, including a P2P engine and Ethereum virtual machine compatibility. The upcoming launch of the X1 mobile mining application, designed to make cryptocurrency mining more efficient and easier to use, positions BlockDAG to redefine the mining landscape. This app will allow users to mine BDAG coins without consuming battery or data, making it easy to mine on the go.
In the next phase, the platform’s expansion continues with the development of BlockDAG Scan in the second phase of the roadmap, improving network visibility and engagement through an intuitive dashboard and features such as NFT contract support. Meanwhile, the third phase introduces the X1 Miner application, which integrates a referral system and competitive leaderboards to encourage community participation and improve transaction management.
Looking ahead, with the upcoming beta release of the X1 application, BlockDAG’s solid strategy and technological advancements are set to attract further investment. This strategy is in line with the goal of making cryptocurrency mining accessible and engaging, offering potential substantial returns with an expected price increase of up to $10 by 2025.
The last call
As Ethereum struggles with scalability and the TON token seeks further market consolidation, BlockDAG’s introduction of the X1 mobile mining application promises to improve the accessibility and efficiency of mining practices. As it progresses towards a bright future characterized by potential substantial returns, BlockDAG’s comprehensive approach could redefine user engagement and profitability in the cryptocurrency mining industry.
Join the BlockDAG presale now:
Website: https://blockdag.network
Pre-sale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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