Bitcoin hits $56k, its highest stage since November 2021: Are we seeing $60k quickly?

Key takeaways

• BTC rallied by practically 10% on Monday to achieve the $56k stage for the primary time since November 2021.

• Bitcoin Canines’ presale is formally closing in on the $5 million milestone.

Bitcoin eyes the $60k resistance stage after hitting $56k

The cryptocurrency market started the week bullishly, with Bitcoin including practically 10% to its worth on Monday. Due to its rally, BTC reached $56,740, its highest stage since November 2021. 

At press time, the value of Bitcoin stands at $55,850, up by greater than 8% within the final 24 hours. Due to the latest rally, Bitcoin’s market cap has now crossed the $1.1 trillion mark for the primary time in over two years.

The world’s main cryptocurrency by market cap shall be eyeing the following resistance stage at $60k if the bulls stay in management. 

What’s Bitcoin Canines?

With Bitcoin rallying, it’s not shocking that different Bitcoin-related initiatives are additionally experiencing optimistic performances. One such challenge is Bitcoin Canines. 

Bitcoin Canines is a novel challenge that’s launching on the Bitcoin community and is looking for to leverage the blockchain’s energy to offer utility to its customers. It’s the first BRC-20 token ICO on the Bitcoin community.

In accordance with their whitepaper, Bitcoin Canines seeks to supply buyers an thrilling worth proposition by combining the fundamental options of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 tradition. With this, buyers and customers will get pleasure from an immersive expertise once they have interaction with the Bitcoin Canines challenge.

Bitcoin Canines’ ICO comes barely a couple of weeks after the launch of spot Bitcoin ETFs within the US. The spot Bitcoin ETFs launched by BlackRock, Constancy, and others are raking in file numbers as extra buyers purchase into the Bitcoin dream. On Monday, Bitcoin spot ETF buying and selling quantity reached a brand new top of $2.4 billion. 

Moreover, the Bitcoin halving is barely two months away and is an thrilling occasion that occurs each 4 years. All these contribute to the particular nature of Bitcoin Canines’ ICO out there. 

Often, most presales within the crypto market have been ERC-20 and BNB tokens. Nonetheless, Bitcoin Canines is setting a brand new development by introducing $0DOG, its native token, as a novel BRC-20 ICO for buyers on the Bitcoin blockchain. 

Bitcoin Canines presale approaches $5m

The Bitcoin Canines presale has already raised greater than $4.8 million roughly three weeks after it was launched. Thus, indicating rising curiosity amongst buyers for this challenge and its token. 

Per the whitepaper, there can be 900 million $0DOG tokens minted. Traders would even have entry to an unique NFT assortment and an immersive gaming ecosystem harking back to in style titles like Axie Infinity and Tamagotchi.

The staff revealed that the presale will solely run for a month and is already leveraging the rarity and novelty of BRC-20 to draw buyers.

Whereas the tokens shall be minted on BRC-20, buyers will purchase the tokens on ERC-20. They are going to present a BTC pockets handle and obtain $0DOG tokens after paying with ERC-20 tokens. You possibly can pay for the $0DOG token utilizing ETH, USDT and USDC stablecoins.

Click on right here to be taught extra in regards to the Bitcoin Canines presale.

Do you have to put money into the Bitcoin Canines challenge as BTC rallies greater?

The cryptocurrency market has been bullish because the begin of the yr and BTC is taking the lead. Traders are already on the lookout for new and thrilling initiatives and Bitcoin Canines may very well be one of many initiatives that’s attracting curiosity. 

Bitcoin is rallying in the meanwhile and initiatives associated to BTC may file huge beneficial properties within the coming months and years. With the appropriate stage of adoption, $0DOG may turn into one of many gems of this Bull Run. 

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