Blackrock's Bitcoin ETF Sees Large Inflows; Binance Coin and Meme Moguls Soars
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January 26, 2024 08:45 AM Central Standard Time
Blackrock's Bitcoin ETF has caught the eye of investors, witnessing a large inflow of $272 million. On the other hand, two top altcoins to watch, Binance Coin and Meme Moguls, are experiencing an uptick in their prices.
Blackrock Sees Inflows Of $272M
BlackRock's iShares Bitcoin Trust (IBIT) is seeing significant gains. This is BlackRock's first Bitcoin ETF that is quickly becoming popular.
On its seventh day of trading, it had seen $272 million in deposits. This huge influx is very different from the $600 million that left Grayscale's GBTC on the same day. Rachel Aguirre, Head of iShares U.S. Products at BlackRock, discussed the inflows.
Aguirre told Bloomberg that IBIT has many clients, such as individual and self-directed investors. According to her, some were ready to put money in from the start. She added that BlackRock was excited for buyers to look into this new type of asset.
Binance Coin (BNB) Pumps 10% in the Past Month
Binance Coin (BNB), the native token of the Binance exchange, has seen a 10.2% price surge in the past month. Data from CoinMarketCap revealed that Binance Coin price has been trading between $265.09 and $337.43 during this period.
Meanwhile, the Binance Coin price prediction sentiment appears bullish. 20 of the altcoin's technical analysis indicators are bullish, while just nine are bearish. In the case of upward price movement, there is a resistance near $298. The next resistance is at $305.
A decisive break above $305 might boost prices. In this situation, the altcoin may reach $320. A close above the $320 barrier could lead to a bigger move towards $335. However, Binance Coin could fall to support at $290 and, even then, $285 if it fails to break the $305 resistance.
Meme Coin Bull Season Coming, the Best Time To Check Out Meme Moguls (MGLS)
Analysts have revealed that a meme coin bull season is coming as investors' interest in meme coins reignites. One network that has caught the fever is Avalanche. The Avalanche Foundation is investing in meme coins via its "Culture Catalyst" fund. This is part of its plan to financially support and buy Avalanche-based memecoins.
Analysts have picked one meme coin to lead the next meme coin rally: Meme Moguls. Meme Moguls' play-to-earn approach has attracted a lot of interest. Consider playing games and collecting rewards for your efforts. The platform also lays emphasis on community building. It is about interacting with others, competing, and growing together rather than simply playing.
The project is a platform where you can meet new people and share your gaming experiences. NFTs provide a completely new element to the gaming experience. These digital assets have a high value and play an essential role in the game's economy. It adds to the gameplay's appeal and rewards.
The new ICO is also about teaching, namely on trading. Trading tournaments and other interactive tools allow you to hone your trading skills so you will become a good trader. Considering all these benefits, it is not at all surprising that analysts are very positive towards Meme Moguls, which at the moment trades for $0.0036 per coin. For those who seek huge profits, this is the new ICO to join.
Conclusion
A significant amount of interest is being shown towards Blackrock's Bitcoin ETF, and Binance Coin would also enjoy much attention in the long run as its prices keep skyrocketing. While meme coins are dominating the market once again, the likes of Meme Moguls that bring utility are among the top altcoins to watch.
To date, the ROI for the investors who invested early in Meme Moguls has hit an impressive 90%. You could be among the next crop of investors to make huge profits by visiting Meme Moguls and signing up for the presale.
Meme Moguls and all cryptocurrencies are subject to significant price fluctuations and volatility. Investing in or holding Meme Moguls tokens carries substantial risks, including the potential for total loss. Past performance should not be considered indicative of future results.
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