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Last updated: February 19, 2024 03:37 EST | 3 min read

Solana (SOL) continues to prove that it is the best coin to invest in today as it rises through the ranks in the crypto market, surpassing Binance Coin (BNB). Meanwhile, Algotech (ALGT) has become a favorite presale crypto.

Learn why Solana (SOL) has bypassed Binance Coin (BNB) and Algotech (ALGT) is leading the presale coins list.

On February 6, 2024, Solana (SOL) faced its first outage of the year that lasted five hours. Validators and developers got to work immediately looking for the problem and creating a solution. Despite the challenge, SOL crypto price surged from $95.55 to $101.24 the following day.

Having overcome this challenge, SOL crypto price surged between February 7 and February 14, moving from $101.24 to $116.98. The price surge was attributed to a rise in transactions, TVL on DeFi projects, and a surge in demand, causing a rise in market capitalization that saw Solana (SOL) surpass Binance Coin (BNB) for the number 4 position in the market.

Based on this information, investors are optimistic that SOL crypto price will keep rising. In the derivative markets, investors display their confidence in Solana (SOL) by investing up to $1 billion in Solana (SOL) options. Investors are optimistic it will keep rising and return favorable results.

Moreover, market experts suggest a bullish sentiment for Solana (SOL) and opine upward momentum and buyer dominance for the token, as per technical analysis. Consequently, Solana (SOL) price projections anticipate it will rise to $120 in February.

On January 31, 2024, BNB Chain, a Binance blockchain network powered by Binance Coin (BNB), announced its strategic plan for 2024, indicating a consolidation of its ecosystem to focus on DeFi, gaming, and artificial intelligence projects for the year. Following the announcement, BNB coin price fell from $307 to $300 the next day.

However, between February 7 and February 14, the market turned bullish, allowing BNB coin price to rise from $302 to $334. In this period, Binance Coin (BNB) investors returned to the market, increasing demand for BNB as shown by the rising traded volumes. Despite the rising Binance Coin (BNB) price, Solana (SOL) surpassed its market cap, pushing it to the fifth position in the crypto market.

Despite the fall in rankings, Binance Coin (BNB) investors are optimistic that BNB coin price will keep rising as long as the market performs well. Furthermore, as Binance Coins (BNB) Chain strategy gets implemented, it will attract more projects, transactions, and value, increasing its price.

Experts suggest a bullish sentiment for Binance Coin (BNB) and predict it will rise to $350 by the end of February.

Algorithmic trading is a profitable endeavor requiring traders to gain specialized knowledge, experience, and the right tools. Algotech (ALGT), a decentralized trading platform, is an advanced, blockchain-based algorithmic trading tool for all traders, beginners, and experts.

Algotech (ALGT) stands out for its openness and incorporation of machine learning. Consequently, it automates trading strategies, ensuring traders earn profit consistently. An integral skill traders need to profit is market data analysis. Algotech (ALGT) condenses complex market information to deliver precise insights, enabling accurate and speedy decision-making.Moreover, Algotech (ALGT) incorporates robust risk mitigation strategies, ensuring traders manage their capital and grow it as they learn to navigate the platform.

Algotech (ALGT) offers ALGT, its native token, in a public presale. Initially, a private sale raised $1.1 million in two days, setting it up for success as a presale crypto. With the presale in Stage 1, Algotech (ALGT) is valued at $0.04 and will rise by 50% to reach $0.06 in the next stage.

Moreover, Algotech (ALGT) entices investors with iPhones, tablets, and Apple watches that traders can access the platform from. Investors who heed the call and buy Algotech (ALGT) now can anticipate a 275% gain at the end of the presale when it reaches the $0.15 launch price.Follow these links to learn more about Algotech (ALGT) presale.

Visit Algotech Presale

Join The Algotech Community

Excerpt from:
Solana (SOL) Surpasses Binance Coin (BNB) As Fourth Largest Cryptocurrency Algotech (ALGT) Projects Amazing ... - Cryptonews

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Hawaii opens its doors to Cryptocurrency Trading, embracing the digital financial frontier - KITV Honolulu

Last updated: February 19, 2024 00:47 EST | 2 min read

South Koreas ruling People Power Party is advocating for a two-year postponement of the taxation on gains from cryptocurrency investments.

The move is seen as a potential campaign promise for the upcoming general election scheduled for April.

The party aims to prioritize establishing a comprehensive regulatory framework for cryptocurrencies before implementing taxation measures.

According to local media outlet Herald Business Daily, the right-wing party intends to propose a new set of regulations addressing the crypto industry in the upcoming term.

By focusing on regulatory measures first, the party aims to delay the implementation of the crypto gains tax, which is currently slated to take effect in January 2025.

This proposed delay would push the tax plan to start in 2027.

As part of its election campaign strategy, the ruling party is considering introducing a bill that encompasses essential elements for potential crypto regulations.

These regulations may include requirements for crypto custody providers and guidelines for token listing.

If implemented, these regulations would supplement South Koreas initial set of crypto regulations set to become effective in July.

The People Power Party plans to finalize its core election promises by the end of the month.

In a recent development, a representative from South Koreas Ministry of Economy and Finance suggested that the countrys legislative body should discuss the possibility of abolishing income tax on crypto assets.

This suggestion aligns with the current administrations initiative to scrap the planned tax on financial investments, including stocks and funds.

However, the People Power Party does not ostensibly explore a complete abolition of the proposed cryptocurrency taxation, as reported by Herald.

Alongside advocating for a tax delay, the party also aims to harmonize the cryptocurrency tax threshold with that of stocks.

Currently, the tax plan imposes a 22% tax rate on crypto gains exceeding 2.5 million Korean won (approximately $1,875).

In contrast, gains from stocks are only taxed when they surpass 50 million won.

In December last year, South Korea announced that high-ranking public officials will be required to disclose their cryptocurrency holdings starting next year.

At the time, the countrys personnel ministry said this proactive approach was intended to address potential conflicts of interest and promote integrity within the public sector.

By mandating disclosure of cryptocurrency holdings, the government aims to ensure that public officials maintain the highest ethical standards and avoid any potential conflicts that may arise from their involvement in the crypto market.

The requirement would apply to high-ranking officials across various government agencies and departments.

These officials will be obligated to report their cryptocurrency holdings, including details of the assets they own and the respective amounts.

Meanwhile, Lee Bok-hyun, South Koreas head of the Financial Supervisory Service, aims to visit the United States later and discuss the crypto industry with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler.

Specifically, the official is set to speak with Gensler regarding spot Bitcoin ETFs.

More:
South Korea's Ruling Party Seeks to Delay Crypto Tax Law - Cryptonews

Hedera Hashgraphs native cryptocurrency, HBAR, has been making headlines recently as it recorded a new all-time high (ATH) for the year, experiencing a remarkable 9.89% increase in value. This surge in price has captured the attention of both investors and enthusiasts alike, especially considering the turbulent journey HBAR has undergone over the past year. As the market eagerly watches the bullish momentum of HBAR, the question on everyones mind is whether this rally will persist.

To comprehend the significance of HBARs recent performance, its essential to understand its role within the broader ecosystem of Hedera Hashgraph. HBAR serves as both a general-purpose cryptocurrency and the utility token of the Hedera network, powering transactions and applications within the platform. Hedera Hashgraph itself is a cryptocurrency network designed to facilitate transactions and deploy applications, overseen by a group of businesses. Its unique feature lies in its patented algorithm, the hashgraph, which boasts superior transaction processing capabilities compared to traditional blockchains.

To gauge HBARs potential, its essential to understand its price history and reactions to past market events. While past performance doesnt guarantee future results, it does offer valuable insights.

In its early days, Hedera Hashgraph (HBAR) maintained a stable price between $0.01 and $0.08, reflecting its steady development and the slow growth of its community. However, the year 2021 brought significant volatility to HBARs price.

At the beginning of 2021, HBAR experienced a surge, rising from $0.03 to nearly $0.45 by mid-March, riding the wave of a broader cryptocurrency market boom. However, this upward momentum was short-lived as the price began to decline in April, in line with the overall market downturn, reaching a low of $0.1559 by July 21st.

In September 2021, HBAR witnessed a resurgence, reaching an all-time high of $0.57. This spike was fueled in part by growing interest in non-fungible tokens (NFTs) and the announcement by the Hedera Governing Council to allocate $5 billion in HBAR for ecosystem development. Despite this peak, the year ended with extreme volatility, with HBAR closing at nearly $0.3.

The year 2022 brought further challenges for HBAR, with fluctuations in early 2022 seeing the price reach $0.33 before struggling to maintain this level, often hovering below $0.3. The de-pegging of UST and the collapse of LUNA in May, followed by issues faced by Celsius Network in June, added further pressure to the price, leading to lows of $0.075 and $0.058, respectively.

While there was a brief surge in September due to expectations surrounding a potential listing on Coinbase, the eventual listing in October did not have a significant impact on the price. The year ended on a low note with the collapse of the FTX exchange in late 2022, resulting in a market crash that dragged HBARs price down to around $0.036.

The collapse of Silvergate Bank further dampened sentiment, but HBAR eventually gained momentum, forming an ascending channel pattern, indicating a potential gradual uptrend with higher highs and lows. Recently, HBAR has found support around the $0.057-0.06 level, with a breach below this potentially indicating a stronger bearish trend.

HBAR has experienced significant price fluctuations over the years, ranging from steady growth to extreme volatility. While past performance is not indicative of future results, understanding HBARs price history provides valuable context for assessing its potential course in the future.

Today, the price of HBAR stands at $0.09443, marking an all-time high for the year, compared to its starting point. This surge in price is accompanied by a significant increase in trading volume, which has risen by 150% over the past 24 hours, reaching $136,978,601. In the same timeframe, HBAR has experienced a notable increase of 10.26%.

In the current rankings on CoinMarketCap, HBAR holds the 37th position, reflecting its growing prominence in the cryptocurrency market. This surge in price and trading volume has propelled HBARs market capitalization to $3,190,561,329, marking an 11% increase in just one day.

HBAR boasts a circulating supply of 33,678,813,527 coins, with a maximum supply capped at 50,000,000,000 coins. Notably, HBAR reached its all-time high of $0.5701 on September 16, 2021, before experiencing a decrease of 83.31% compared to its current price.

Over the past week, HBAR has exhibited bullish momentum, with a notable increase of 22% in price. Looking back over the past year, HBAR has seen an overall increase of 6.24%, indicating its steady growth and resilience in the cryptocurrency market.

A detailed technical analysis offers insights into the current sentiment surrounding HBAR. While moving averages suggest a bullish outlook, with prices trading above various moving averages indicating upward momentum, oscillators provide a more detailed perspective. While some indicators signal overbought conditions, others remain neutral, contributing to a mixed sentiment among analysts.

In a bullish scenario, key resistance levels to watch are at 0.0967, representing the upper limit channel, followed by 0.1015, which marks a pivot high, and 0.1326.

On the flip side, in a bearish scenario, crucial support levels include 0.085, aligned with the 800 exponential moving average (EMA), 0.077 associated with the 50 EMA, and 0.0683 linked with the 200 EMA.

Looking ahead, analysts provide varying forecasts for HBARs price trajectory. Short-term predictions suggest a potential rise to $0.2 by the end of 2024, driven by ongoing network improvements and market recovery. By 2025, further advancements and market growth could propel HBARs value to around $0.33, with long-term projections envisioning highs of approximately $0.7 by 2030. However, these forecasts are subject to market dynamics and technological developments within the ecosystem.

HBARs recent price surge signals a significant milestone for the cryptocurrency, but the sustainability of this rally remains uncertain. While technical indicators provide valuable insights into current market sentiment, predicting future price movements requires careful analysis and consideration of various factors. As HBAR continues its journey within the volatile cryptocurrency landscape, investors and enthusiasts alike will closely monitor its performance, eagerly awaiting further developments and milestones.

Continued here:
Hbar Price : Hbar Smashed New ATH , Will The Rally Continue To $1 ? - CoinGape