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18 Top Big Data Tools and Technologies to Know About in 2024 – TechTarget

The world of big data is only getting bigger: Organizations of all stripes are producing more data, in various forms, year after year. The ever-increasing volume and variety of data is driving companies to invest more in big data tools and technologies as they look to use all that data to improve operations, better understand customers, deliver products faster and gain other business benefits through analytics applications.

Enterprise data leaders have a multitude of choices on big data technologies, with numerous commercial products available to help organizations implement a full range of data-driven analytics initiatives -- from real-time reporting to machine learning applications.

In addition, there are many open source big data tools, some of which are also offered in commercial versions or as part of big data platforms and managed services. Here are 18 popular open source tools and technologies for managing and analyzing big data, listed in alphabetical order with a summary of their key features and capabilities. The tools were chosen based on information from sources such as Capterra, G2 and Gartner as well as vendor websites.

Airflow is a workflow management platform for scheduling and running complex data pipelines in big data systems. It enables data engineers and other users to ensure that each task in a workflow is executed in the designated order and has access to the required system resources. Airflow is also promoted as easy to use: Workflows are created in the Python programming language, and it can be used for building machine learning models, transferring data and various other purposes.

The platform originated at Airbnb in late 2014 and was officially announced as an open source technology in mid-2015; it joined the Apache Software Foundation's incubator program the following year and became an Apache top-level project in 2019. Airflow also includes the following key features:

Databricks Inc., a software vendor founded by the creators of the Spark processing engine, developed Delta Lake and then open sourced the Spark-based technology in 2019 through the Linux Foundation. The company describes Delta Lake as "an open format storage layer that delivers reliability, security and performance on your data lake for both streaming and batch operations."

Delta Lake doesn't replace data lakes; rather, it's designed to sit on top of them and create a single home for structured, semistructured and unstructured data, eliminating data silos that can stymie big data applications. Furthermore, using Delta Lake can help prevent data corruption, enable faster queries, increase data freshness and support compliance efforts, according to Databricks. The technology also comes with the following features:

The Apache Drill website describes it as "a low latency distributed query engine for large-scale datasets, including structured and semi-structured/nested data." Drill can scale across thousands of cluster nodes and is capable of querying petabytes of data by using SQL and standard connectivity APIs.

Designed for exploring sets of big data, Drill layers on top of multiple data sources, enabling users to query a wide range of data in different formats, from Hadoop sequence files and server logs to NoSQL databases and cloud object storage. It can also do the following:

Druid is a real-time analytics database that delivers low latency for queries, high concurrency, multi-tenant capabilities and instant visibility into streaming data. Multiple end users can query the data stored in Druid at the same time with no impact on performance, according to its proponents.

Written in Java and created in 2011, Druid became an Apache technology in 2018. It's generally considered a high-performance alternative to traditional data warehouses that's best suited to event-driven data. Like a data warehouse, it uses column-oriented storage and can load files in batch mode. But it also incorporates features from search systems and time series databases, including the following:

Another Apache open source technology, Flink is a stream processing framework for distributed, high-performing and always-available applications. It supports stateful computations over both bounded and unbounded data streams and can be used for batch, graph and iterative processing.

One of the main benefits touted by Flink's proponents is its speed: It can process millions of events in real time for low latency and high throughput. Flink, which is designed to run in all common cluster environments, also includes the following features:

A distributed framework for storing data and running applications on clusters of commodity hardware, Hadoop was developed as a pioneering big data technology to help handle the growing volumes of structured, unstructured and semistructured data. First released in 2006, it was almost synonymous with big data early on; it has since been partially eclipsed by other technologies but is still widely used.

Hadoop has four primary components:

Initially, Hadoop was limited to running MapReduce batch applications. The addition of YARN in 2013 opened it up to other processing engines and use cases, but the framework is still closely associated with MapReduce. The broader Apache Hadoop ecosystem also includes various big data tools and additional frameworks for processing, managing and analyzing big data.

Hive is SQL-based data warehouse infrastructure software for reading, writing and managing large data sets in distributed storage environments. It was created by Facebook but then open sourced to Apache, which continues to develop and maintain the technology.

Hive runs on top of Hadoop and is used to process structured data; more specifically, it's used for data summarization and analysis, as well as for querying large amounts of data. Although it can't be used for online transaction processing, real-time updates, and queries or jobs that require low-latency data retrieval, Hive is described by its developers as scalable, fast and flexible.

Other key features include the following:

HPCC Systems is a big data processing platform developed by LexisNexis before being open sourced in 2011. True to its full name -- High-Performance Computing Cluster Systems -- the technology is, at its core, a cluster of computers built from commodity hardware to process, manage and deliver big data.

A production-ready data lake platform that enables rapid development and data exploration, HPCC Systems includes three main components:

Hudi (pronounced hoodie) is short for Hadoop Upserts Deletes and Incrementals. Another open source technology maintained by Apache, it's used to manage the ingestion and storage of large analytics data sets on Hadoop-compatible file systems, including HDFS and cloud object storage services.

First developed by Uber, Hudi is designed to provide efficient and low-latency data ingestion and data preparation capabilities. Moreover, it includes a data management framework that organizations can use to do the following:

Iceberg is an open table format used to manage data in data lakes, which it does partly by tracking individual data files in tables rather than by tracking directories. Created by Netflix for use with the company's petabyte-sized tables, Iceberg is now an Apache project. According to the project's website, Iceberg typically "is used in production where a single table can contain tens of petabytes of data."

Designed to improve on the standard layouts that exist within tools such as Hive, Presto, Spark and Trino, the Iceberg table format has functions similar to SQL tables in relational databases. However, it also accommodates multiple engines operating on the same data set. Other notable features include the following:

Kafka is a distributed event streaming platform that, according to Apache, is used by more than 80% of Fortune 100 companies and thousands of other organizations for high-performance data pipelines, streaming analytics, data integration and mission-critical applications. In simpler terms, Kafka is a framework for storing, reading and analyzing streaming data.

The technology decouples data streams and systems, holding the data streams so they can then be used elsewhere. It runs in a distributed environment and uses a high-performance TCP network protocol to communicate with systems and applications. Kafka was created by LinkedIn before being passed on to Apache in 2011.

The following are some of the key components in Kafka:

Kylin is a distributed data warehouse and analytics platform for big data. It provides an online analytical processing (OLAP) engine designed to support extremely large data sets. Because Kylin is built on top of other Apache technologies -- including Hadoop, Hive, Parquet and Spark -- it can easily scale to handle those large data loads, according to its backers.

It's also fast, delivering query responses measured in milliseconds. In addition, Kylin provides an ANSI SQL interface for multidimensional analysis of big data and integrates with Tableau, Microsoft Power BI and other BI tools. Kylin was initially developed by eBay, which contributed it as an open source technology in 2014; it became a top-level project within Apache the following year. Other features it provides include the following:

Pinot is a real-time distributed OLAP data store built to support low-latency querying by analytics users. Its design enables horizontal scaling to deliver that low latency even with large data sets and high throughput. To provide the promised performance, Pinot stores data in a columnar format and uses various indexing techniques to filter, aggregate and group data. In addition, configuration changes can be done dynamically without affecting query performance or data availability.

According to Apache, Pinot can handle trillions of records overall while ingesting millions of data events and processing thousands of queries per second. The system has a fault-tolerant architecture with no single point of failure and assumes all stored data is immutable, although it also works with mutable data. Started in 2013 as an internal project at LinkedIn, Pinot was open sourced in 2015 and became an Apache top-level project in 2021.

The following features are also part of Pinot:

Formerly known as PrestoDB, this open source SQL query engine can simultaneously handle both fast queries and large data volumes in distributed data sets. Presto is optimized for low-latency interactive querying and it scales to support analytics applications across multiple petabytes of data in data warehouses and other repositories.

Development of Presto began at Facebook in 2012. When its creators left the company in 2018, the technology split into two branches: PrestoDB, which was still led by Facebook, and PrestoSQL, which the original developers launched. That continued until December 2020, when PrestoSQL was renamed Trino and PrestoDB reverted to the Presto name. The Presto open source project is now overseen by the Presto Foundation, which was set up as part of the Linux Foundation in 2019.

Presto also includes the following features:

Samza is a distributed stream processing system that was built by LinkedIn and is now an open source project managed by Apache. According to the project website, Samza enables users to build stateful applications that can do real-time processing of data from Kafka, HDFS and other sources.

The system can run on top of Hadoop YARN or Kubernetes and also offers a standalone deployment option. The Samza site says it can handle "several terabytes" of state data, with low latency and high throughput for fast data analysis. Via a unified API, it can also use the same code written for data streaming jobs to run batch applications. Other features include the following:

Apache Spark is an in-memory data processing and analytics engine that can run on clusters managed by Hadoop YARN, Mesos and Kubernetes or in a standalone mode. It enables large-scale data transformations and analysis and can be used for both batch and streaming applications, as well as machine learning and graph processing use cases. That's all supported by the following set of built-in modules and libraries:

Data can be accessed from various sources, including HDFS, relational and NoSQL databases, and flat-file data sets. Spark also supports various file formats and offers a diverse set of APIs for developers.

But its biggest calling card is speed: Spark's developers claim it can perform up to 100 times faster than traditional counterpart MapReduce on batch jobs when processing in memory. As a result, Spark has become the top choice for many batch applications in big data environments, while also functioning as a general-purpose engine. First developed at the University of California, Berkeley, and now maintained by Apache, it can also process on disk when data sets are too large to fit into the available memory.

Another Apache open source technology, Storm is a distributed real-time computation system that's designed to reliably process unbounded streams of data. According to the project website, it can be used for applications that include real-time analytics, online machine learning and continuous computation, as well as extract, transform and load jobs.

Storm clusters are akin to Hadoop ones, but applications continue to run on an ongoing basis unless they're stopped. The system is fault-tolerant and guarantees that data will be processed. In addition, the Apache Storm site says it can be used with any programming language, message queueing system and database. Storm also includes the following elements:

As mentioned above, Trino is one of the two branches of the Presto query engine. Known as PrestoSQL until it was rebranded in December 2020, Trino "runs at ludicrous speed," in the words of the Trino Software Foundation. That group, which oversees Trino's development, was originally formed in 2019 as the Presto Software Foundation; its name was also changed as part of the rebranding.

Trino enables users to query data regardless of where it's stored, with support for natively running queries in Hadoop and other data repositories. Like Presto, Trino also is designed for the following:

NoSQL databases are another major type of big data technology. They break with conventional SQL-based relational database design by supporting flexible schemas, which makes them well suited for handling huge volumes of all types of data -- particularly unstructured and semistructured data that isn't a good fit for the strict schemas used in relational systems.

NoSQL software emerged in the late 2000s to help address the increasing amounts of diverse data that organizations were generating, collecting and looking to analyze as part of big data initiatives. Since then, NoSQL databases have been widely adopted and are now used in enterprises across industries. Many are open source technologies that are also offered in commercial versions by vendors, while some are proprietary products controlled by a single vendor.

In addition, NoSQL databases themselves come in various types that support different big data applications. These are the four major NoSQL categories, with examples of the available technologies in each one:

Multimodel databases have also been created with support for different NoSQL approaches, as well as SQL in some cases; MarkLogic Server and Microsoft's Azure Cosmos DB are examples. Many other NoSQL vendors have added multimodel support to their databases. For example, Couchbase Server now supports key-value pairs, and Redis offers document and graph database modules.

Mary K. Pratt is an award-winning freelance journalist with a focus on covering enterprise IT and cybersecurity management.

Editor's note: This unranked list is based on web research of big data tools that cover a diverse range of capabilities and features. Our research included data from respected research firms, including Gartner and Capterra, as well as vendor websites.

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Bitcoin developer Jimmy Song likens Ordinals to pump and dump altcoin scams – CryptoSlate

Bitcoin developer Jimmy Song, known for his maximalist views, expressed skepticism toward the Ordinals protocol, likening it to a run-of-the-mill altcoin scam.

Songs comments come amid growing discussions in the Bitcoin community about the Ordinals protocol, which was introduced in early 2023 and has since sparked debate over its impact on the Bitcoin network.

According to Song, Ordinals is essentially an altcoin scam that cleverly uses the Bitcoin branding to deceive people.

He argued that by building on top of the Bitcoin network and adopting the narrative around sound money and self-sovereignty typically associated with the flagship crypto, Ordinals has exploited Bitcoins name recognition to appear legitimate and credible.

According to Song:

Thats why ordinals and BRC-20 are becoming more popular. Theres little chance of escaping the shitcoin moniker by releasing a token on Ethereum or Solana now. The gulf between Bitcoin and altcoins is too wide and crossing that chasm, to scam newbies has become that much harder.

Song argued that peeling back the layers of the Ordinals movement reveals a similar pump and dump nature to that of altcoins, which focus on token peddling and speculation rather than advancing Bitcoins mission of economic freedom.

Songs stance is part of a broader debate within the Bitcoin community regarding the direction and use of the network. While he adopts a purist approach, warning users not to be deceived by Ordinals and urging the community to expose the protocol as a scam, others within the community see benefits in Ordinals.

Ordinals were launched earlier in the year at a value of roughly $25, but the token crashed in the weeks after to around $5. However, the token has more than 10x from its bottom over the past few months and is currently trading between $75 to $80.

MicroStrategy chair Michael Saylor recently praised the protocol for its potential to attract talent and creativity away from rival blockchains. Others in the industry have echoed his sentiment and are generally optimistic about the protocols future.

Additionally, proponents argue that Ordinals has been beneficial for BTC miners, as the protocol has generated substantial extra fees since it went live, thereby reinvigorating mining operations and incentivizing network security.

The controversy around Ordinals is part of a larger discussion about the future of Bitcoin and the challenges of balancing evolving demands on the network. The debate touches on key principles of Bitcoin, such as being an open and permissionless network, and the necessity of maintaining these principles while also adapting to new developments and use cases.

The discussions around Ordinals and the potential implications for the Bitcoin network have also led to speculation about a possible Bitcoin fork in 2024.

The possibility of a fork has been fueled by concerns over network congestion, block space limitations, and rising transaction fees. The debate is indicative of the growing divide within the community and highlights the challenges of reaching a consensus in a decentralized ecosystem.

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AVAX price premature rally could send the altcoin to $55 this week – FXStreet

Avalanche (AVAX) price is rising rapidly with renewed bullish momentum in 2024. This move comes after a sell-off on the last day of 2023. With sustained buying pressure, AVAX is likely to continue its ascent.

Read more:AVAXprice could rally another 20% before it overheats

AVAX price has increased 12% between January 1 and the current trading level of $43. This ascent comes in the first trading week of 2024 and likely has more legs to it due to the sell-off on December 31. This move collected the liquidity resting below the December 19 swing low of $38.

One of the common bull rally continuation identifiers seen in altcoins is a sweep of the previous low and production of a higher high. Hence, the recent rally seems to hint at more gains in the near future for Avalanche token holders.

Going forward, investors can expect AVAX price to enter a resistance zone extending from $51 to $56. This move, from the current level of $43 to $55 would constitute a 27% move.

Supporting this bullish thesis is a reset of the previously overbought Relative Strength Index (RSI) at the mean level of 50.

AVAX/USDT 1-day chart

While AVAXs technical picture shows a restart of the bull rally, investors need to be careful if the token fails to post a higher high above $49. This move would be the first sign of weakness. If this development is coupled with a lower low below $37, it will invalidate the bullish thesis.

In such a case, AVAX price could fall back into the weekly imbalance, which extends from $31 to $22. This would imply a 16% fall from current price levels.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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Ethereum-Based Altcoin Plummets Nearly 78% After Team Deposits Into Coinbase: On-Chain Data – The Daily Hodl

An Ethereum (ETH)-based altcoin collapsed in value after the projects team members moved thousands of tokens to the crypto exchange Coinbase, according to on-chain data.

The blockchain data tracker Lookonchain says that the decentralized oracle protocol Tellor Tributes (TRB) went on a parabolic rally before a sudden massive correction, causing the liquidation of tens of millions of dollars.

Says Lookonchain,

In the past 24 hours, TRB soared to $600 [on December 31st] and then plummeted to $137, causing $68 million of assets to be liquidated, making it the most liquidated token.

Lookonchain noticed Tellor team members moved thousands of TRB onto the top US exchange Coinbase after the price surge and right before the price collapse.

We noticed that the Tellor team deposited 4,211 TRB ($2.4 million) after the price of TRB skyrocketed.

TRB has since recovered some of its losses and is trading for $183.64 at time of writing, up about 18% in the last 24 hours.

In November, crypto analytics firm Santiment noticed that deep-pocketed TRB holders were aggressively adding to their holdings. At that time, wealthy traders who owned between 1,000 to 100,000 TRB added 15% of the total supply to their holdings over a seven-week period for a total of 46% of the assets total supply. The buying spree came as TRBs value jumped from under $15 in September to $134.

Generated Image: DALLE3

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Ethereum-Based Altcoin Plummets Nearly 78% After Team Deposits Into Coinbase: On-Chain Data - The Daily Hodl

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These Industry Experts Shared Their Top Altcoins for 2024 – BeInCrypto

The cryptocurrency market constantly evolves, with altcoins often stealing the spotlight from their well-known counterpart, Bitcoin. As one ventures into 2024, experts in the field have identified several altcoins that hold significant potential.

Miles Deutscher and Michal van de Poppe, two renowned voices in the crypto industry, have shared their insights, highlighting the top contenders for the year.

Miles Deutschers top five picks encompass a variety of altcoins, each with unique strengths and potential growth catalysts. Starting with Arbitrum (ARB) and Optimism (OP), Deutscher emphasized their link to the upcoming Ethereum EIP-4844 upgrade, which promises reduced fees and enhanced competitiveness.

According to Deutscher, this network update could lead to increased adoption and a spike in their value.

The EIP-4844 upgrade is set to reduce fees on Ethereum layer 2s by order of magnitude If you were paying $2 for an LP deposit on Arbitrum, now you might only be paying 5 to 10 cents. So its definitely going to be an adoption Cctalyst for layer 2s because it makes them cheaper and more competitive to use, Deutscher emphasized.

dYdX (DYDX), another of Deutschers choices, stands out for its role in the decentralized exchange (DEX) narrative. Its impending move to its own chain on Cosmos (ATOM) and strong fee generation capacity, totaling $36 million over the past 180 days, positions it as a lucrative investment option.

I believe in the ethos of decentralization, and having a bonafide decentralized solution to trading, I think is extremely valuable in the crypto economy. Its not something weve fully seen yet, but I think out of all of the dexes dYdX is one that is most bullish, Deutscher added.

Read more: How To Make Money With Cryptocurrency: Top 4 Ways In 2024

Celestia (TIA) is the third pick, praised for its modular blockchain structure that allows various components, like layer 2 solutions and other blockchains, to stack on top. According to Deutscher, this flexibility has attracted many new applications and deployments.

Thorchain (RUNE) is Deutschers fourth choice, lauded for its unique mechanism in facilitating cross-chain liquidity. It is a decentralized solution for directly swapping assets like Ethereum and Bitcoin, a feature increasingly in demand.

RUNE, in a way, is a reflexive or a leveraged bet on a bull market. If theres a major bull market and you know that Bitcoin and Ethereum, and other assets are going to explode, you know that RUNE, in order for the application to work, it also needs to readjust higher in price so its a super reflexive mechanism, Deutscher explained.

Lastly, Frax Share (FXS) tops Deutschers list. With its multi-faceted approach, including a lending protocol, an upcoming layer 2 chain, and a strong team behind it, Frax Share is a comprehensive investment in the DeFi space.

Michal van de Poppe took a different approach. He focused on both established and emerging altcoins to avoid unnecessary risks.

I dont believe into getting into very small altcoins to maximize the risk. I think compounding your returns and having a proper strategy is going to benefit in the long run. Otherwisem I would go to a to a casino take the roulette table have luck there and then just continue moving on, Poppe said.

Ethereum (ETH) leads his list, not just for its potential to outperform Bitcoin but also due to expected developments like a spot Ethereum ETF and its deflationary Proof-of-Stake (POS) system. Poppe explained that Ethereum is undervalued, but it has the potential to provide a higher return in the coming period.

The fact that Ethereum against Bitcoin is currently bottoming out, and also, the first quarter of the year is usually a period where Ethereum is doing really well. All those arguments combined are probably going to give me an actual investment thesis to look at ethereum as the first altcoin to look at, Poppe affirmed.

Arbitrum and Optimism, also on Poppes radar, are recognized for their promising trends and potential high returns as part of the Ethereum ecosystem. He suggested a dollar-cost averaging strategy for these assets, considering their current market positions.

Chainlink (LINK) is another key player in Poppes portfolio, valued for its role in the DeFi, RWA, and NFT sectors and potential for a rebound after a prolonged bear market.

I think that DeFi is probably cornered and added with RWA and NFTs is going to do really well in the upcoming cyle So I want to capture that by being positioned into something that most likely is going to be important for the entire ecosystem. Thats why I choose for Chainlink, Poppe said.

Read more: Chainlink (LINK) Price Prediction 2024/2025/2030

Finally, Sui (SUI), an emerging project, rounds out Poppes list. Sui represents an investment in the competitive landscape against Ethereum. According to Poppe, it could mirror the successful trajectory of projects like Phantom and Avalanche in 2021.

These expert insights paint a diverse picture of the altcoin market for 2024. Subsequently highlighting projects that stand out for their technological innovations and for their strategic positioning in the crypto economy. Investors looking to diversify their portfolios may consider these altcoins recommendations. Indeed, each offer a unique blend of potential and performance in cryptocurrency market.

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.

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3 Under The Radar Altcoins Expected To Hit $100 Before The Bitcoin Halving – NewsBTC

With the Bitcoin halving expected to happen today, crypto enthusiasts are already starting to take positions in various altcoins. Among these, there are a number of coins that have shown a lot of promise when it comes to reaching the $100 price mark and this report takes a look at three.

The MoonRiver (MOVR) token has been one that has flown under the radar for quite a while now. This has to do with the fact that the price of the altcoin fell from its all-time high of $485 to as low as $5 earlier in 2023. However, this has not eradicated the bullish narrative for the asset.

So far, as the crypto market has recovered, the MOVR token has seen one of the most significant rallies. In the days leading up to Christmas, the price would go from around $6 to as high as $44 in a couple of days, notching 700% gains during this time.

Since then, the price has since retraced and fallen around 50%. But with the price still holding above $20, it shows a lot of promise for the coin. Given its low supply of around 11 million coins and a tendency to rise quickly in a short time, MoonRiver is one of the coins poised to break the $100 mark.

The Litecoin price rallied tremendously in 2023 leading up to its halving and was among some of the best-performing altcoins. However, once the halving was completed, the LTC price would crumble and fall into a slow and steady decline. However, this has changed as the coins price has begun to pick up steam once again.

With the Bitcoin reversal, the Litecoin price is on the up once again, briefly crossing $75 in the early house of Tuesday. The altcoin, which is often referred to as the digital silver, could be poised to see firmer rallies, especially as the Bitcoin halving draws closer, which is often a catalyst for the bull market. If this continues, then LTC could easily cross $100.

Just like Solana (SOL), the Avalanche network has undergone an awakening that has brought investors back to the chain. As a result, the AVAX price has rallied, going from its 2023 low of around $9 to as high as $47 in December 2023.

As the new year rolled around, the Avalanche network has continued to enjoy attention from crypto investors and this has helped it maintain its bullish momentum. Just like MoonRiver (MOVR) and Litceoin (LTC), Avalanche (AVAX) is another token expected to cross the $100 mark.

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Why Ethereum is a top altcoin pick for Q1 2024 – AMBCrypto News

Ethereum [ETH] could be one of the best performers of this years first quarter, according to a recent revelation by Michal van de Poppe. The founder of MN Trading noted that altcoins would outperform Bitcoin [BTC] in Q1.

However, that was not the main reason he opined that ETH would lead the charge.

Instead, he focused on the ETF filings involving Bitcoin and Ethereum. In defense of his opinion, the analyst mentioned that the optimism around an Ethereum spot ETF would have a positive impact.

van de Poppe did not exclusively address what impact the Bitcoin spot ETF could have on ETH. Instead, he said,

My thesis is that Ethereum is likely going to outperform Bitcoin in the upcoming period and thats why I want to allocate more towards ETH. Spot Ethereum ETF after the approval of the Bitcoin ETF is one of the examples.

However, it is important to mention that the U.S. SEC has pushed its decision regarding the Ethereum ETF to May. Furthermore, many analysts believe that a decision in favor of Bitcoin will happen in January.

At press time, ETHs value was $2,425, marking a bullish start to the year. Indications from the daily chart showed that buyers were able to take advantage of the sellers exhaustion at $2,272.

This was also instrumental to the flight above the $2,375 resistance level.

For the mid to long-term potential, the Exponential Moving Average (EMA) showed that ETH might be undervalued. As of this writing, the 50 EMA (blue) had jumped above the 200 EMA (yellow).

This position is a sign that a major uptrend could be established much later.

Some time ago, AMBCrypto discussed how ETH could hit $2,500. At press time, the altcoin showed signals of moving closer to that point. However, the Average Directional Index (ADX) needs to trend higher to confirm the bias.

The ADX (yellow), as of this writing, was 15.67. If the reading hits 25 or above, it could support the +DMI (green) rise and help ETH hit $2,500 within a short period.

Another metric that AMBCrypto considers vital to ETHs potential is the Pi Cycle Top. The Pi Cycle Top shows when a cryptocurrency becomes significantly overheated.

In this instance, the 111 SMA (green) reaches the level of the 350 SMA (purple).

But, an analysis of Glassnodes data showed that the 111 SMA was far below the 350 SMA. This means that Ethereum is not yet close to its top.

Realistic or not, heres ETHs market cap in BTCs terms

A further assessment of the metric at press time showed that the 111 SMA was at $1,921. On the other hand, the 350 SMA was at $3,631. This implied that ETH has the potential to hit $3,631 in a few months if all goes well.

But if the altcoin does not attain that height, $1,921 could be a good support level. Apart from Ethereum, van de Poppe also asked his followers to keep an eye on Chainlink [LINK], Arbitrum [ARB], and Optimism [OP].

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Top Altcoins To Buy January 2: SEI, LDO, ARB – CoinGape

Sei Network (SEI), Lido DAO (LDO), and Arbitrum altcoins start 2024 style, achieving double-digit gains ahead of the spot BTC ETF approval.

Published 7 hours agoUpdated 8 hours ago

The altcoin season is beckoning, according to the latest insights by crypto analyst, Rekt Capital. In a post on X, the widely followed trader while highlighting with the help of a chart, reckoned that every time Altcoin Market Cap performed two historic retests successfully, there was a likelihood for a third retest followed in the weeks afterward.

From the chart as shown in the tweet below, the blue level is expected to act as a springboard to phenomenal highs.

As for investors contemplating exposure to selected altcoins, they may need to consider some tokens that sustained a bullish thesis in the last quarter of 2023 and are still bullish at the start of the New Year, for instance, Sei Network (SEI), Lido DAO (LDO) and Arbitrum (ARB).

If the prevailing technical structure keeps getting stronger across the board, it would be a good time to include these altcoins in the crypto portfolio.

The crypto community is looking forward to the Securities and Exchange Commission (SEC) greenlighting the first spot Bitcoin exchange-traded funds (ETFs) in the US.

A fresh influx of money, especially from institutional investors is expected following the approval likely before January 10. As demand for Bitcoin increases, the price of the largest cryptocurrency will likely explode above $50,000 and start closing the distance to $60,000.

This bullish outlook inBitcoin pricewould also positively impact the prices of many altcoins, hence the need to expand the crypto portfolio beyond BTC andEthereum.

Recommended for you:Bloomberg Analyst: Spot Bitcoin ETF Approvals To Begin By End Of 2023?

The meme coin frenzy is surprising investors in 2024, withSei Networksoaring by 16% to $0.75. According to experts in the market, holders of the token SEI are benefiting the most from the narrative of a parallelized EVM.

The token has in the last week increased by a staggering 71%, spreading FOMO among investors and traders.

EVM refers to an Ethereum Virtual Machine, which is a virtual computer that allows and supports the deployment of smart contracts and other applications.

A parallelized EVM refers to a blockchain process that achieves high scalability by supporting multiple transactions on the network at the same time.

Sei is emerging as the biggest winner among such blockchains amid the attention tokens like Solana (SOL) and Avalanche (AVAX) are receiving. Strengthening on-chain metrics suggests that Sei Network is growing rapidly having achieved a market cap of $1.8 billion since its launch in August.

Higher support at $0.7 would signal the continuation of the uptrend for gains above the coveted $1. FOMO might continue to drive Sei price, especially with the optimism surrounding the ETF.

LDO, the token native to the leading liquid staking protocol, Lido DAO is leaving no stones unturned as it gains ground rallying 20% in a week to $2.97.

Amid the criticism Lido DAO is getting regarding its swelling share of Ethereum staking, the project stands out as one of the most influential blockchain platforms of 2023.

As a liquidity staking protocol, Lido allows ETH holders to lock their coins in a smart contract, but still access liquidity via another token. This unique position is the platforms selling point, allowing users to stay liquid in the dynamic crypto market.

Meanwhile, those interested in purchasing LDO should consider entering new positions above $3 considering the token has recently been rejected by a seller congestion at $3.2.

Failure to close the day above $3 might trigger a minor sell-off to allow buyers to collect more liquidity before resuming the uptrend. Gains above this level could propel Lido to the all-time high of $7.3, data byCoinGeckoshows.

Arbitrum priceis unlikely to slow down the uptrend backed by FOMO, especially now that resistance at $1.8 has been tested, but not successfully. The hype surrounding the spot BTC ETF approval this January could see ARB price explode beyond the immediate hurdles at $1.8 and $2.

The uptrend has been backed by the Moving Average Convergence Divergence (MACD) indicator, which dons a buy signal.

Therefore, by heeding the call to buy ARB, investors could provide the momentum to keep the uptrend going into a price discovery mode, considering the previous all-time high of $1.83.

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Top Altcoins To Buy January 2: SEI, LDO, ARB - CoinGape

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Bitcoin Ordinals Rejected as Altcoin Scam by Jimmy Song – DailyCoin

The advent of Ordinals in early 2023 has reinvigorated the Bitcoin network, bringing new use cases and additional mining fees. Yet Bitcoin maximalists continue to push back against the controversial protocol, arguing that the BTC network should focus only on monetary transactions.

As the New Year rang in, Bitcoin expert Jimmy Song waded into the debate by firmly nailing his colors to the maximalist mast, warning users that Ordinals is an altcoin scam masquerading under the BTC name.

Song believes that Ordinals is essentially an altcoin scam that uses Bitcoin branding to deceive people. By building on top of the BTC network and even co-opting the narrative around sound money and self-sovereignty used by veteran Bitcoiners, Ordinals has exploited Bitcoins name recognition to seem legitimate and credible, according to Song.

The Bitcoin expert contends that peeling back the layers of the Ordinals movement reveals the same pump and dump nature of altcoins, which focuses on peddling tokens and rousing speculation rather than advancing Bitcoins mission to create economic freedom.

Song called on the Bitcoin community to take action instead of hoping that Ordinals will fade away. He urged users to quicken the failure of Ordinals by relentlessly exposing the protocol for the scam that it is.

While Song has adopted a purist stance, others within the Bitcoin community have voiced their approval of Ordinals based on the protocols numerous benefits.

Although Ordinals has its detractors, there are also many supporters of the protocol within the Bitcoin community. MicroStrategy chair Michael Saylor recently praised the knock-on effects of attracting talent and creativity away from rival blockchains as developers move to Bitcoin to work on new use cases.

Similarly, Ordinals has also delivered a windfall for BTC miners, who have generated over $225 million in extra fees since the protocol went live. This supplemental revenue stream has reinvigorated many miners, keeping operations running profitably while motivating them to keep securing the network.

Bitcoin aims to be an open, permissionless network that anyone can use and build on. However, following Songs line of thinking to its logical conclusion is to restrict and censor Bitcoin transactions, which would make BTC no better than legacy finance, highlighting the nuance required to balance evolving demands on the BTC network.

Read more about the division stoked by Bitcoin Ordinals here:Bitcoin Civil War: Core Dev Proposes Plan to Kill Ordinals

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Bitcoin Ordinals Rejected as Altcoin Scam by Jimmy Song - DailyCoin

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Bitcoin Author Accuses Ordinals of Being "Pump and Dump" – CCN.com

Utilizing Bitcoins Reputation

Jimmy Song claims that the Ordinals protocol is, effectively, an altcoin scam, subtly capitalizing on the Bitcoin brand to mislead individuals.

He suggested that Ordinals, by being built upon the Bitcoin network and embracing the principles of sound money and self-sovereignty usually linked with BTC, has leveraged Bitcoins fame to gain a facade of legitimacy and trustworthiness.

Song said:

Thats why ordinals and BRC-20 are becoming more popular. Theres little chance of escaping the shitcoin moniker by releasing a token on Ethereum or Solana now. The gulf between Bitcoin and altcoins is too wide and crossing that chasm, to scam newbies has become that much harder.

Song maintained that a closer examination of the Ordinals movement uncovers characteristics akin to the pump and dump tactics typical of altcoins. These tactics prioritize token trading and speculative activities over furthering Bitcoins objective of promoting economic independence.

This perspective from Song reflects a larger debate within the Bitcoin community about the networks future and its applications. While he holds a purist viewpoint, cautioning users against being misled by Ordinals and advocating for the community to unmask the protocol as fraudulent, other members of the community perceive potential advantages in Ordinals.

Launched in early 2023 at approximately $25, the value of Ordinals tokens sharply dropped to about $5 shortly after. Nevertheless, in the following months, the token has witnessed a recovery, increasing more than tenfold from its lowest point, currently fluctuating between $75 and $80.

Michael Saylor, Chairman of MicroStrategy, recently commended the protocol for its capacity to draw talent and innovation from competing blockchains. This sentiment is echoed by others in the industry.

Advocates of Ordinals argue that it has been advantageous for Bitcoin miners. Since its inception, the protocol has generated significant additional fees, thus revitalizing mining activities and fostering enhanced network security.

The ongoing debate over Ordinals is part of a broader conversation concerning Bitcoins future. This debate revolves around core Bitcoin principles, such as its opennature, and the challenge of preserving these values while also embracing new uses and advancements.

Discussions about Ordinals and their potential impact on the Bitcoin network have sparked speculation about a potential Bitcoin fork in 2024.

This stems from concerns regarding network congestion, limitations on block space, and escalating transaction fees. The debate underlines a deepening rift within the Bitcoin community and demostrates the difficulties in achieving consensus within a decentralized system.

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Bitcoin Author Accuses Ordinals of Being "Pump and Dump" - CCN.com

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