BTC stays above $30k, AltSignals secures $1M.
The AltSignals token sale has raised over $1 million as it approaches its target.
Bitcoin’s value has remained relatively stable above $30,000, despite increasing risks in the industry.
The price of Bitcoin has remained stable above $30,000 as the recent momentum slows down. As of Tuesday, it was trading at $30,230, just below the year-to-date high of $31,413. Nevertheless, it is still 21% higher than its lowest level in June and 95% higher than its 2022 low. At the same time, the first phase of the AltSignals token sale is coming to an end.
Bitcoin is outperforming stocks
Bitcoin and many other altcoins have outperformed American stocks and other assets this year, despite ongoing regulatory risks. The coin has risen by more than 80% in 2023, bringing its total market cap to over $587 billion.
Other financial assets have risen at a slower pace than crypto. For example, while the price of gold reached an all-time high this year, it has only risen by less than 10% this year. American indices like the Nasdaq 100 and S&P 500 have risen by about 15% and 35%, respectively.
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Bitcoin has shown remarkable resilience despite the recent troubles in the crypto industry. In May of last year, Terra and its ecosystem crashed, leading to the collapse of other companies like Voyager Digital, Three Arrows, and Celsius.
In November, the industry experienced the collapse of FTX, a leading exchange that was valued at over $30 billion. Following the collapse, crypto investors lost over $8 billion.
And this year, the Securities and Exchange Commission (SEC) decided to sue Coinbase and Binance, the two biggest players in the industry. The SEC made several allegations, including accusations that the two were offering unregulated products to American customers.
Therefore, the performance of Bitcoin indicates that cryptocurrencies are incredibly resilient. In fact, Jerome Powell, the head of the Federal Reserve, believes that Bitcoin has a lot of staying power.
AltSignals token sale continues
This resilience explains why several companies have managed to raise millions of dollars this year. Earlier this year, Metacade raised over $16 million from investors. Its developers are building a gaming platform that will compete with the likes of Decentraland and Sandbox.
AltSignals has raised over $1 million in its highly successful token sale. As seen here, the developers have sold 95.23% of all available ASI tokens. They have raised over $1.028 million in the first phase of the sale, with each token selling at $0.015. The developers plan to increase the price by 25% in the next phase of the sale.
AltSignals is a company that aims to use artificial intelligence to disrupt the financial services industry. The developers hope to improve their service by incorporating AI into their already-profitable platform.
After the first phase, the developers will launch the second phase of the token sale. According to their white paper, the developers will work on their new AI platform and list the token in key centralized and decentralized exchanges.