More good news is filling up the crypto space, thanks to the improving market situations. Despite the predictions for a massive market crash, traders have witnessed some crypto bull runs in many assets. Currently, things look a bit good in the crypto market, and traders only hope things get better in the long run.
With an improved market situation, Bitcoin prices and altcoins are increasing steadily. Also, altcoins like Cardano are seeing massive improvements as their holders move long-term. When cryptocurrency holders go long-term, it only shows their faith in the cryptocurrency. So in this article, we will share with you some of the bullish news you should be aware of this week.
Half of Cardano (ADA) Holders Goes Long-term
One of the latest good news, especially for the Cardano community, is that new data shows most of the cryptocurrency holders are long-term investors. A recent study in the crypto project shows that more than half of Cardano investors have been holding their assets for more than one year. This is excellent news for the Cardano community as it shows that more people are getting interested in the project. In return, it would positively affect the price of Cardano (ADA).
With the fluctuations Cardano has witnessed in recent times, it would be a bit of a fresh breath to see its investors making long-term investments in the project. These long-term investments give stability to Cardano and ensure that its price does not go downhill. Also, the increase of long-term investors in the Cardano project would attract more investors. At the time of writing, Cardano is currently reflecting the long-term investments being made on it. In the past month, it has increased by a whopping 25.69% to stand at $0.38.
Coinbase to Integrate Bitcoin Lightning Network
The CEO of Coinbase, Brian Armstrong, in a new tweet, has provided a positive update saying his crypto exchange would soon be integrating the Bitcoin Lightning Network. The Lightning Network is a layer two solution created to help the Bitcoin blockchain with its scalability issues. According to the CEO of Coinbase, he likes the idea of the Lightning network and might integrate it into his exchange in the future.
However, Coinbase's CEO didn't give a particular date for when this would happen. But it has brought a lot of positivity to the Bitcoin community. Many of them say that it would be phenomenal to see that actually happen.
Bitcoin Miners to be Protected in Arkansas
A new bill has been passed in the state of Arkansas that will regulate the Bitcoin mining industry in the state. Despite being a regulatory bill, it has some of the best packages for Bitcoin miners in the state, as it will protect them from unnecessary and discriminatory taxes. Senator Joshua Bryant initially proposed the hill on 30th April. The process of passing the bill is pretty fast, and it is now waiting on the governor's office for final approval.
According to the bill, it profiles Bitcoin miners as data centers. This means that the rules and regulations of data centers should apply to Bitcoin miners. This is a good regulation for Bitcoin miners as it will prevent discriminatory treatment from government agencies. However, they would still pay the same taxes paid by data centers and ensure they use the electricity at the proper rate. This good news could potentially affect Bitcoin price positively because of its huge implications.
Bitcoin Price Expected to Move Above $30k
Crypto traders are currently holding on to their positions as they expect Bitcoin price to move beyond $30k. After starting the year very well, Bitcoin has been playing a slow but consistent game as it tries to break the $30k level. The cryptocurrency is currently trading a little above $28k.
However, new data shows that many traders are already bracing for a huge Bitcoin bullish run in the upcoming weeks. But things would be a little different in this particular move. Other major altcoins are also joining in the race for a bullish market. Altcoins such as AAVE, ADA, and XLM are making massive moves in the crypto market in recent weeks. This could be the basis of the next Bitcoin bull run. Analysts predict that once Bitcoin starts another major bull run, it will move beyond the $30k level.