Although Elon Musks influence across the Fintech scene is undeniable, his relevance stretches further than that. Going even further is the billionaires significance within the crypto community. In previous times, a single tweet or comment from the Tesla CEO has sent prices of assets surging through the roof. This time is no different, as a tweet made by Elon Musk seems to have triggered the bulls of a certain altcoin yet again.

It all started when Elon Musk took to Twitter to respond to a popular bot. The interaction has since fueled a notable conversation around the asset in question. Additionally, the altcoin linked to the interaction has soared significantly.

The Explain This Bob bot currently uses artificial intelligence, particularly OpenAI, to help curious users find answers and break down complex questions. Twitter users typically tag the account asking it to answer questions about a variety of topics. Explain This Bob has been known to respond with some of the most comprehensive responses.

The bot recently chimed into an ongoing conversation pertaining to Elon Musks claims that Twitters data was sold to third parties.

Im open to ideas, but ripping off the Twitter database, demonetizing it (removing ads), and then selling our data to others isnt a winning solution, Musk said, in response to a Twitter user who critiqued the platforms refusal to pay Twitter APIs fees. The bot went ahead to make Elon Musks response even more concise and straightforward.

Twitter does not want to sell their database and the idea of taking away ads is not a good way to make money. The bot tweeted. Elon Musk followed up with a reply saying I love Bob.

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As a result of the interaction, BOB, the official project of the ExplainThisBob has recorded a significant surge in price value. The asset skyrocketed by more than 1000 percent within the last week. The memecoin rose to an all-time high of $1, before losing momentum. At the time of this report, Bob is trading at a price of $0.9997.

The new development comes at an interesting time for the memecoin community, which has seen the rise of newbies such as Pepe (PEPE) take over the market recently. Although key players like Max Keiser, a popular Bitcoin proponent referred to the asset as an unregistered security, the asset has still managed to outperform rival memecoins like Dogecoin (DOGE), Shiba Inu (SHIB) and Floki Inu (FLOKI) in trading volume.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Twitter's Elon Musk Endorses Altcoin with 1000% Surge in a Week - Crypto News Flash

Binance Exchange, the largest digital currency trading platform, is sitting at the forefront of innovations in the Web3.0 ecosystem as it has pledged support for the Sui Mainnet launch scheduled for May 3. As contained in an announcement from the trading behemoth, it revealed it will be launching the SUI token on the Binance Launchpool, a move that is set to grant every BNB and TUSD holder an opportunity to deposit their tokens and farm SUI.

The SUI token will be the 33rd project supported on the Binance Launchpool and the exchange noted that the landing page for SUI is programmed to go live 4 hours before the Launchpool will commence.

The clamor over SUI has been on for more than a year. Being the brainchild of the Mysten Labs, most of which are Meta Alumni that worked on the Libra/Diem project, the projections that the Sui protocol will outrank existing protocols in existence with respect to crucial metrics is high.

The signs are already very promising for Sui, both as a blockchain network and as a cryptocurrency. Tests conducted leading to the launch have shown that the protocol can permit as high as 300,000 Transactions Per Second (TPS), a figure that many existing projects are unable to boast of.

Besides this, the total number of potential innovators queuing up to be a part of the Sui ecosystem is growing by the day. One of the crucial signs is Binance pledging support for the network, even before its listing. While the Binance support is a very significant one considering its millions of users, other known exchanges including OKX and KuCoin are also supporting the Sui mainnet launch through the listing of the native token.

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Thus far this year, the blockchain ecosystem has recorded a mix of highs and lows with the bankruptcy of some entities of Genesis casting doubts on the future performance of the industry. However, we have seen a broader resilience with some impressive tokens, especially memecoins, fueling the renewed vigor that the industry has not seen since the early days of Shiba Inu.

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One such digital token that is listed is PEPE. This coin has effectively turned an investment of $245 into 6 digits figures, creating millionaires in a matter of days. The industry has a very high hope for SUI with the expectation that the cryptocurrency will also print a very massive upsurge following its listing by the top exchanges that are on track for the listing.

Sui has utility and it has both the backing of top venture capital firms in the industry as well as that of the consumers. Time will show how well the project will fare in line with existing Layer-1 competitors.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Binance to list this new innovative altcoin: Is it the next Pepe? - Crypto News Flash

Top 5 altcoins to watch in the crypto market in May 2023: Avalanche (AVAX) will hold its second annual summit in Barcelona between May 3 and 5. Vechain (VET) will release a mobile wallet upgrade, while Lido DAO (LDO) and eCash (XEC) will undergo a network upgrade. Gala (GALA) will issue a token drop.

The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). Below, 5 altcoins that have positive developments lined up in May are analyzed in order to assess their potential.

The second Avalanche summit will be held between May 3 and 5. It will feature more than 300 speakers and have over 125-panel sessions with various blockchain topics.

The summit could provide a much-needed boost to the AVAX price, which has fallen under a descending resistance line since the beginning of February.

The price also deviated above the resistance line (red icon) in the middle of April before falling below it afterward. Now, the altcoin price is trading at an ascending support line (dashed) that has been in place since the beginning of the year.

Combined with the resistance line, this creates a symmetrical triangle, which is considered a neutral pattern. Therefore, it suggests that both a breakout and breakdown are possible.

The digital asset could move to the $21.50 resistance area if a breakout occurs. However, if a breakdown occurs, a decrease to $15 could be on the cards.

The launch of GALA(v2) will be on May 15. This upgrade will bring various new improvements, such as enhanced burn and security mechanisms. All GALA(v1) holders will receive the new token in a 1:1 drop, after which the GALA (v1) token will no longer be supported.

Despite the positive news, the altcoin broke down from an ascending support line on April 25. Previously, the line had been in place since the beginning of the year. Such breakdowns usually mean that the previous trend has come to an end.

If the drop continues, the closest support area will be at $0.031. On the other hand, if the GALA price reclaims the support line, it could increase to the next resistance at $0.049.

The eCash network will undergo a major upgrade on May 15. The upgrade will include numerous features, such as removing the chained transactions limit and moving miner funds out of consensus rules.

Similarly to AVAX, the XEC price trades inside a symmetrical triangle considered a neutral pattern. If it breaks down, the next closest support will be at $0.000026. However, if a breakout ensues, the next resistance will be at $0.000033.

Lido DAO is expected to release its new mainnet upgrade in the middle of May. While this is a positive development, the price action shows bearish signs. The LDO price is struggling to initiate a bounce at the $2 horizontal support area. Additionally, it has created a head and shoulders, which is considered a bearish pattern.

If the altcoin breaks down from the $2 area, it could fall to $1.30. This bearish forecast will be invalid if LDO bounces instead and breaks out from its descending resistance line. In that case, the price can increase to $2.80.

The VechainThor mobile wallet upgrade will take place on May 4. This may provide a much-needed boost to the VET price, which struggles to initiate a rally from the $0.022 support area. Besides being a horizontal support area, this is also the 0.618 Fib retracement support level.

If it is successful, an increase to $0.027 can follow. However, a breakdown from it can lead to a fall toward the $0.020 support area.

For BeInCryptos latest crypto market analysis,click here.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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5 Promising Altcoins to Follow in May 2023 - BeInCrypto

After registering a profitable YTD, the Bitcoin market could soon lead the entire altcoin industry to a fresh bear season. For the second time since January 1, a daily candlestick closed below the 50 moving average. Interestingly, a head and shoulder formation is on the verge of confirming on the daily time frame, which means more downtrends on the lower time frames are highly plausible in the coming weeks.

Moreover, Bitcoin balances on top centralized exchanges including Binance, Coinbase Pro, and Bitfinex have increased with more than 56.4k units in the past 30 days. Historically, an increase in Bitcoin balance on centralized exchanges leads to an imminent sell-off.

According to a famous crypto trader on Twitter under the pseudonyms Crypto Feras, the crypto bears have the upper hand on a short-term basis. Analyzing Bitcoins weekly chart, the analyst noted that unless the instrument reclaims $29.3k, $24.5k is his next buy entry level.

Nevertheless, the analyst highlighted that most of the gains have been registered in the crypto market. As a result, Crypto Feras forecasted the next major altcoin season will kick in between Dec 2023 and May 2024. In this regard, the analyst insinuates that Bitcoins halving will play a major role, which is expected to take place in April next year.

Also Read: Top Analyst Predicts More Downfall for Bitcoin (BTC) Price: Will it Drop Below $27,000?

This is not bs, its well calculated based on macro charts/Cycles length/Fed policy/borrowing Rates/On-Chain data, the analyst noted. Adding that Ethereum price targets during the next cycle will be between $7600~11800$.

Nonetheless, the analyst indicated that 2024 is the most likely period for the next altcoin season to kick in based on historical data.

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Altcoin Season To Kick-in Between Dec 2023 and May 2024 Heres Why - Coinpedia Fintech News

BeInCrypto looks at five altcoins that increased the most in this weeks crypto market, specifically from April 21 to 28.

The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These bullish altcoins have stolen the crypto news and cryptocurrency market spotlight this week as the biggest gainers:

The RNDR price broke out from the $2.15 horizontal resistance area on April 26, reaching a new yearly high of $2.55 two days later. Due to the lack of overhead resistance, the price action suggests that the upward movement can accelerate further.

If it does, the next closest resistance area will be at $3.80.

However, if the rally loses momentum, RNDR could fall back to the $2.15 horizontal area, which is now expected to provide support.

The CRO price has increased alongside an ascending support line since the beginning of the year. More recently, it bounced at the line on April 24 (green icon).

The price successfully broke out from the $0.073 resistance area on April 27. Now, the area is expected to provide support.

If the increase continues, CRO could reach the next resistance at $0.086. However, if the rally loses steam, CRO could drop to the $0.073 area, which is now expected to provide support.

The INJ price has increased inside an ascending parallel channel since the beginning of the year. An ascending parallel channel is a type of corrective pattern in which the price bounces between two parallel lines before eventually breaking down most of the time.

However, the fact that the price keeps trading in the upper portion of the channel by bouncing at its midline (green icon) makes a breakout slightly more likely.

If the price gets rejected at the channels resistance line, it could fall to the midline again. However, if a breakout above the resistance line transpires, an increase to $15 could follow.

The EGLD price has decreased under a descending resistance line since Feb. 13. More recently, EGLD made a breakout attempt on April 27.

However, that was unsuccessful, and the price created a long upper wick. This is a bearish signal since it means that the buyers were not able to sustain the price. Rather, sellers took over and pushed it down.

If a breakout occurs, EGLD could increase to $50. However, if the line causes another rejection, a drop to $38 will be on the cards.

Concluding the list of bullish altcoins this week, Woo Netrowrk wraps up the list. Similarly to INJ, the WOO price has traded inside an ascending parallel channel since the beginning of the year.

The price was rejected by the channels resistance line on April 15 and has fallen since.

However, WOO bounced at the $0.26 horizontal support area on April 24 (green icon) and began an upward movement.

If the increase continues, WOO can reach the channels resistance line at $0.36. However, if the rally loses momentum, WOO could fall to the $0.26 area again.

For BeInCryptos latest crypto market analysis,click here.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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Top 5 Bullish Altcoins That Dominated This Week - BeInCrypto