Notcoin Faces Instability Amid Profit-Taking, While Bitcoin ETFs See Record Inflows and BlockDAG Keynote 2 Fuels Significant Market Growth

Crypto's viral meme coin, Notcoin, is back in the red after a recent rally. Sellers are trimming the 302% gain, leaving bulls struggling.

Crypto’s viral meme coin, Notcoin, faced a downturn on Monday as sellers trimmed the token’s recent 302% gain, leaving bulls struggling to sustain the rally amid a broader market downturn.

Notcoin soared to a new all-time high of $0.02836 during the recent rally, with investors who bought at a low of $0.004611 seeing gains of over 300%. However, the token experienced a 120% increase in value and a 12% decrease during the correction.

Notcoin hovered at $0.02116 amid the market downturn, with the technical structure hinting at the downtrend continuing. Investors appeared to have shifted toward more established meme coins, which spiked in double digits.

During the downturn, Floki hit a new all-time high with a 17% surge, while a rebound from the 38.2% Fibonacci retracement level could pique interest in Notcoin again, potentially pushing it to a new high above $0.03. However, if sellers pushed below this level, the token’s decline might worsen.

Bitcoin (BTC) exchange-traded funds (ETFs) experienced substantial inflows of $488.1 million last week, according to Farside data, marking 17 consecutive trading days of inflows and tying the record for the longest streak. Over the past two days, inflows have surged to an impressive $1.4 billion.

Leading the inflows was Fidelity’s FBTC with an impressive $220.6 million, bringing its total net inflow to a staggering $9.6 billion. Following closely was BlackRock’s IBIT ETF with $155.4 million, reaching a total inflow of $17.1 billion.

Meanwhile, ARK’s ARKB ETF saw $71.4 million in inflows, increasing its total to $2.7 billion, and Bitwise’s BITB ETF recorded an $18.5 million inflow, reaching a total of $2.1 billion. Despite an inflow of $14.6 million, Grayscale’s GBTC continues to face a total net outflow of $17.9 billion. Overall, Bitcoin ETFs have seen cumulative inflows of $15.3 billion.

BlockDAG’s Keynote 2 has boosted interest in the project by presenting several significant technological advancements. The keynote, streamed from the ‘moon’, showcased BlockDAG’s unique method that combines a Proof-of-Work (PoW) consensus mechanism with a Directed Acyclic Graph (DAG) structure. This mix eliminates slow processing times by letting many transactions confirm at once and making things scale up a lot. The DAG Formation algorithm and a Low Code/No Code approach further simplify development, enabling more people to participate and innovate.

The keynote also highlighted the extensive development updates that are released on a daily basis by BlockDAG. These ‘Dev Updates’, detail daily progress and released weekly, demonstrate BlockDAG’s commitment to transparency and continuous improvement.

Earlier BlockDAG had shared more technical details regarding its project in its Whitepaper V2. The Dagpaper introduced efficient transaction processing, boasting speeds of up to 15,000 transactions per second (TPS). Fast processing and cheap fees make users happy and facilitate a high volume of transactions efficiently. BlockDAG’s robust security and swift transaction ensure security against malicious activities.

All these developments and BlockDAG’s innovative tech has led to significant interest in the presale, raising over $500,000 daily and collecting $49.5 million in under 18 batches. Starting at Batch 1 with a price of $0.001, the BlockDAG presale has now advanced to Batch 18, priced at $0.0122, reflecting an impressive growth of 1120%.

News source：https://www.kdj.com/cryptocurrencies-news/articles/notcoin-instability-profit-bitcoin-etfs-record-inflows-blockdag-keynote-fuels-market-growth.html

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