Arweave, Ethena, THORChain rises as BitBot token sale thrives

Cryptocurrency prices bounced back after Bitcoin’s software went through its fourth halving on Friday and as geopolitical risks faded. Bitcoin jumped to over $64,000 while Arweave (AR), Ethena (ENA), and THORChain (RUNE) prices soared by double-digits. 

Cryptocurrencies outperformed technology stocks, which continued their deep sell-off. The closely-watched Nasdaq 100 index crashed by over 300 points as the Nvidia stock plunged by over 10%. The S&P 500 index dropped by almost 1%. 

Meanwhile, BitBot, the fast-growing cryptocurrency continued its token sale, as it raised over $2.6 million.

Altcoins have rebounded

Most altcoins jumped sharply on Saturday morning. Arweave rose for three straight days to $28.95, higher than this week’s low of $21.53. 

Ethena, on the other hand, rose above the important resistance point at $1 even as concerns about its stablecoins continued. Some investors are worried that the high-yielding USDe stablecoin could de-peg as Terra Luna USD did in 2022.

There are also concerns that a new proposed stablecoin law in the US could ban it in the country. The Lummis-Gillibrand law, if passed, will ban all unbacked stablecoins in the country.

THORChain, on the other hand, continued rising as the volume in its exchange stabilised. The exchange handled cryptocurrencies worth over $228 million, making it the 15th biggest DEX in the world.

The other top-performing altcoins on Saturday morning were Internet Computer, Sei, ORDI, Sui, and Fetch.ai.

It is unclear whether this rebound will continue considering that there are substantial interest rate risks. Analysts believe that the Federal Reserve will continue holding interest rates at an elevated level for longer.

BitBot token sale continues

Meanwhile, BitBot continued its token sale this week. Data on its website shows that the developers have now raised over $2.6 million in the past few weeks. The $BITBOT token was trading at $0.0163 in stage 11 of the sale and is set to increase to $0.017.

For beginners, BitBot is an upcoming company that aims to become the next big thigh in the Telegram bot market. It will be a decentralised platform where $BITBOT token holders will have a role in its decision-making.

The bot will be created using technical indicators and advanced artificial intelligence (AI) tools. As a result, the developers hope that it will be more accurate in making crypto predictions than other bots.

For users, there will be other benefits of using the bot. First, it will be a non-custodial bot, meaning that the developers will not have access to users funds. Second, as you will find in this white paper, holders will have exclusive access to features and presales. Third, they will take part in revenue sharing, where $BITBOT holders will receive a portion of their sales. You can buy the BitBot token here.

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