BlockDAG Announces Swiss Foundation Plans After Raising $67M, While Avalanche Price Drops & BNB Investor Worries Rise

August 20, 2024
·
4 min read

This is a Crypto Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

The market crash has deepened since the beginning of August, with leading cryptos struggling to recover. Avalanche price predictions suggest further drops, while BNB investors are distressed by massive outflows from the previous week.

However, there's a bright spot in the crypto world, BlockDAG. The project’s CEO recently announced the establishment of a foundation in Switzerland, aimed at ensuring BlockDAG’s growth and stability. This move has sparked significant interest, leading to impressive presale numbers, with over $67 million raised so far.

  Avalanche Price Predictions Show a Drop Between $19.2 and $14.37

Avalanche (AVAX) has been facing challenging conditions, with its price nearing the $19.6 support level. The trend has remained bearish, reflecting broader market sentiments as Bitcoin struggles to stay above $60k. Recent attempts to rally have faltered, with a bounce to $22.8 met by strong resistance.

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The daily RSI remains below neutral, indicating continued downward momentum, while the On-Balance Volume (OBV) shows declining demand. Given these indicators, the Avalanche (AVAX) Price Prediction suggests further declines could be on the horizon, with potential targets at $19.2 and $14.37. The futures market also lacks optimism, as both Open Interest and funding rates have declined, aligning with the overall bearish sentiment.

  BNB Investors Alarmed by $1.2 Million Outflows

Recent trends have shown that BNB Investors are facing significant challenges. A report from CoinShares highlights that while many digital assets attracted inflows after last Monday’s market crash, BNB was an exception, recording an outflow of $1.2 million. This outflow mirrors the bearish sentiment surrounding BNB, as its value plummeted to $404.30 during the flash crash.

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Currently, the altcoin trades at $508, down from its recent peak of $535. Moreover, the BNB ecosystem has seen a decline in development activity, a key indicator of a blockchain's growth. If this trend continues, the bearish outlook could push BNB's price down to $479.10, unless a shift in momentum allows bulls to regain control and drive the price higher.

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  BlockDAG Launches a Swiss Foundation For Unmatched Stability

BlockDAG is taking a significant step forward by establishing its foundation in Switzerland, a country known for its robust financial regulations and legal framework. In a recent interview, CEO Antony Turner emphasized the importance of this move, explaining that the foundation will serve as a secure base for BlockDAG’s ecosystem.

He noted, “This will be used to hold the funds for the future good of the community. Importantly, these funds belong to the community, so none of the team or founders will have access to the funds.” 

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This decision highlights BlockDAG’s commitment to transparency and long-term stability. The project has gained substantial attention with over $67 million raised in its presale. The upcoming transition from batch 22 to batch 23, with prices increasing, shows strong momentum.

Setting up the foundation in Switzerland strengthens the legal and financial security of BlockDAG, ensuring that it remains a trusted and reliable player in the crypto market for years to come. BlockDAG is currently priced at $0.017 per coin, experiencing a rapid sellout with swift batch progression.

  Final Words

As the dark clouds of the market crash loom over crypto traders, casting shadows of uncertainty and unease, BNB investors face dropping prices and massive outflows, while Avalanche price predictions point downward. During this turmoil, BlockDAG offers a sigh of relief.

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With the upcoming foundation set to protect and grow its ecosystem, BlockDAG shields crypto holders with promising returns and ensures their assets remain valuable and profitable. This move has solidified BlockDAG's position as a trusted name in the market, leading to substantial presale figures that have soared beyond $67 million.

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Invest in the BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu 

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.

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