Bitcoin is dominating crypto news today as analysts argue where the Bitcoin price goes next.
While many predict a Bitcoin capitulation to $14,000, others still call the current Bitcoin price 'as good as it gets'. Despite the current crypto bear market, Ethereum has also hit new highs to be dubbed the leading blockchain in all-time sales volume.
In other crypto news, EverGrow Coin has established itself as the leading stablecoin rewards token. The DeFi newcomer has rewarded $37 million to date to investors.
EverGrow Coin is breaking ground for reflection tokens with $37 million paid to investors to date.
Reflection tokens charge a transaction tax with a percentage distributed to coin holders. While most reflection cryptos reward investors in a native token, EverGrow Coin pays Binance-pegged USD (BUSD).
The EverGrow Coin tax is 14%, with 8% distributed as BUSD, 3% set aside for liquidity, 2% set aside for buyback & burn, and 1% put towards marketing.
Alongside the $37 million BUSD reflections, EverGrow Coin has already burned through 53% of its initial coin supply through the buyback & burn tax. In the next few weeks, EverGrow Coin will drop its own NFT marketplace with all profits destined for more buyback & burn.
Crypto news today carries research suggesting Bitcoin could drop 50% from current levels.
An analyst at CryptoQuant predicted the Bitcoin price will fall to between $14,000 to $21,000 this year. The price prediction was based on Bitcoin's tendency to fall between 80-90% in price following an all-time high.
A Bitcoin price of $14,000 is an 80% drop from the November $69,000 all-time high.
Nevertheless, the analyst VentureFounder suggested Bitcoin is still a great buy. "Buying Bitcoin from this point to the next 6-12 months is as good as it gets. Probably the best 3-year % ROI ever," he said in a Twitter thread.
Many Ethereum killers have come, but none have toppled the smart contract giant.
Ethereum has passed $25 billion in all-time sales volume – far outpacing competitors as the leading blockchain for DeFi and NFT projects. These competitors include Solana, Polygon, Ronin, Waves, Avalanche, BNB Chain, Tezos and more.
Three of the top NFT marketplaces (OpenSea, Rarible, NiftyGateway) all run on the Ethereum blockchain. NFT creators and traders flock to these platforms for increased visibility and higher prices. Ethereum also excels for tight security and data architecture despite its high fees.
As of May 31, the all-time sales volume on Ethereum has reached $27.5 billion.
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