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BlockDAG Raises $13.2M with V2 Whitepaper as Bitwise Seeks Spot Ethereum ETF Approval while Coinbase Enters Dogecoin Futures

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BlockDAG is steering the blockchain revolution with its remarkable $13.2 million raised following the release of its V2 whitepaper. It is capturing the industry’s focus with its innovative approach and robust growth potential. On the other hand, Bitwise is making strategic moves to gain approval for a Spot Ethereum ETF, indicating a maturing market and institutional interest in crypto assets. 

Meanwhile, Coinbase is diversifying its offerings by entering the Dogecoin futures market, showcasing the expanding landscape of cryptocurrency investment options. These developments highlight a dynamic period in the crypto sector, with BlockDAG’s significant presale success at the heart of this transformative phase.

Bitwise Pursues Spot Ethereum ETF Application

Bitwise has taken a bold step by filing for a Spot Ethereum ETF with the US SEC. Unlike some competitors, Bitwise’s application doesn’t include provisions for staking. Filed on March 28th, the application includes essential documents such as S-1 and Form 19b-4, paving the way for public security offerings and stock exchange rule changes, respectively.

Eight other applicants, including major players like Grayscale and BlackRock, await the SEC’s decision along with Bitwise. However, the review process faces complexities due to an ongoing investigation into whether Ethereum qualifies as a security, resulting in repeated delays in decisions on similar spot Ethereum ETF applications.

Coinbase Ventures into Dogecoin Futures

Coinbase is poised to introduce Dogecoin futures, featuring contracts sized at 5,000 DOGE to be settled in USD. This move underscores Dogecoin’s evolution from a mere meme coin to a significant contender in the cryptocurrency arena, propelled by its widespread popularity and active community engagement.

Despite a slight price dip, DOGE has witnessed a notable 43% increase in trading volume. Analysts speculate that DOGE could be on the cusp of a major bull run, buoyed by factors such as the impending Bitcoin halving and potential announcements from influential figures like Elon Musk regarding the X payment network.

Recent developments in Dogecoin mining have seen a surge in miner participation, leading to heightened competition and increased block mining difficulty. This surge underscores the enduring interest and activity surrounding Dogecoin, underscoring its resilience amidst market fluctuations.

BlockDAG Becomes Top Altcoin for 2024

BlockDAG (BDAG) burst onto the crypto scene with an impressive $1 million raised within the first 24 hours of its presale. Currently, BlockDAG has secured over $13.2 million and has set its sights on reaching a $600 million fundraising target by the end of 2024.

At the core of BlockDAG lies a robust and efficient network capable of confirming transactions at a remarkable rate of up to 15,000 transactions per second, making it the fastest Proof-of-Work (PoW) network in existence. However, this impressive speed doesn’t come at the expense of security, as BlockDAG operates on an advanced hybrid security mechanism.

In addition to speed and security, BlockDAG places a strong emphasis on environmental sustainability. To this end, the platform has unveiled the X-series, a range of mining rigs designed to minimise energy consumption while maximising mining output. Depending on the model, these miners have the potential to generate up to $100 daily in mining revenue.

With the recent release of its whitepaper V2, analysts predict that BlockDAG could be the next 20,000x gem, positioning it as the top altcoin to watch for in 2024. With BlockDAG gaining significant traction, its prospects for substantial appreciation appear promising, offering investors an enticing opportunity for the future.

The Last Call

Bitwise’s application for a spot Ethereum ETF adds to the growing anticipation surrounding regulatory approval, while Coinbase’s venture into Dogecoin futures underscores the coin’s growing significance in the crypto space. Meanwhile, BlockDAG’s remarkable fundraising success positions it as a promising contender for substantial returns in the coming years. Embark on the BlockDAG Presale Journey Now! Join the movement towards a transformative era in cryptocurrency investment!

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