Bitcoin has just hit $40,000 in price as crypto markets appear to rebound in mid-March 2022. The $40,000 crypto price is a key bullish indicator for Bitcoin. The world's largest cryptocurrency has hovered around the $39,000 mark for most of March.
Ethereum is also making impressive gains as news of the important Merge event gathers steam. If successful, Ethereum's shift to a new consensus mechanism could mean reduced gas fees, faster processing times, and reduced environmental impact for crypto's second-biggest coin.
But new projects are also gathering pace with new mechanisms to make money in crypto – many of them unrelated to crypto price movements. EverGrow Coin is a top rewards token that's made exciting metaverse announcements in 2022.
Current price: $40,5000
Expert Bitcoin investor Benjamin Cowen suggested this week that another price is likely, given past data. Bitcoin has repeatedly grown as soon as its price falls below an analytical marker called the bear market support line. Bitcoin is in this territory right now, meaning it wouldn't be a surprise for BTC to stay above $40,000 and beyond
Current price: $2,7000
Ethereum is crypto's second-biggest token with a market cap of over $300 billion. ETH is up an impressive 5% in the last 24 hours as of March 16, following important news of technical developments.
Ethereum faced slow transaction speeds and high processing costs last summer, as activity overwhelmed its proof-of-work consensus mechanism. Ethereum functions like Bitcoin, with miners competing to record transactions on the blockchain for token rewards. But proof-of-work is costly and energy-intensive, spurning Ethereum's founders onto the idea of shifting to a new consensus mechanism called proof of stake.
The Merge is the event when the Ethereum network moves permanently to proof of stake. It will take place before mid-2022. But attention is growing after the Merge successfully took place on the Kiln testnet on March 15. This is the 'final public testnet' before Ethereum transitions and a major boost for investors.
EverGrow Coin is a new crypto token with a new focus: passive income from crypto. The project has paid out over $35 million in stablecoin rewards to investors since starting up in September 2021. Based on the Binance Smart Chain, EverGrow Coin already makes use of a blockchain system that's faster, cheaper, and far more energy-efficient than Ethereum or Bitcoin.
EverGrow Coin will roll out the first of many applications this month, with Crator seeking to attract content creators to crypto. Crator will allow content creators to set subscription tiers for their content, charge for live streams, and also interact for free with users on the social media platform. Crator will charge a 5% commission on transactions, far below OnlyFans' 20% commission and Patreon's 9-12% cut.
Next in the sights for EverGrow Coin is a partnership with VR technology to create the world's first crypto exchange, NFT marketplace, and play-to-earn gaming arcade in the metaverse. The Abstract will roll out mid-2022 with plans for merging with EverGrow Coin's ecosystem before the end of the year.
All profits from EverGrow Coin's ecosystem will be used to either buy back EGC tokens and drive up the price, or directly paid out as BUSD rewards. The positive volume means EverGrow Coin should not depend on price fluctuations to pay passive income to investors.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.