The highly popular crypto asset Bitcoin recently surpassed the $10 billion trading volume mark over the weekend.
The digital currency, which commands about a 40% market share in the crypto industry, is believed to be playing a critical role in the current bullish market trend.
At the time of writing, the most widely held crypto’s trading volume is around $13 billion, an increase that many experts believe could help the entire crypto market back to its winning ways.
The current situation has also sparked a lot of interest in Love Hate Inu, the newbie cryptocurrency project. This project offers users the chance to vote and earn rewards from trending meme polls.
Will Bitcoin Catalyst a Bull Market?
First launched in January of 2009, Bitcoin was created by an unknown individual or group of people operating under the name Satoshi Nakamoto.
At present, Bitcoin has a market value of $27,635.34, with a 1.13% rise within the past 24 hours, suggesting that it is in a bullish streak.
The well-known cryptocurrency tops the global crypto ranking chart with a live market cap of over 500 Billion USD.
Its technicals demonstrate a 50-day moving average of $26,984.58 and a 200-day moving average of $21,000, both signs of a positive trend.
The Relative Strength Index (RSI) of 60.19 reveals the virtual asset is in the underbought zone.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows the orange signal line above the blue trendline, which indicates a strong sell signal.
Bitcoin’s Role in Growing the Crypto Industry
Since its inception, Bitcoin has been the major player in the world of cryptocurrencies. With more than 40% of the market share, the crypto asset has been a driving force in terms of overall market sentiment and trends.
The virtual currency has also enabled the growth of an entire ecosystem, which has recently achieved an impressive $2 trillion market cap.
Given the various utilities that cryptocurrencies now provide, new projects are emerging to solve real-world issues. Love Hate Inu is one such example.
Unique Vote-to-Earn Platform
Love Hate Inu is a decentralized token platform based on the Ethereum blockchain. It has already raised more than $5.7 million in its presale.
Early investors have been jumping on board with the ERC-20 token, which can be purchased for as little as $0.000125.
The project is averaging $120,000 in sales per day. It is appealing to many users as it offers a fun way to interact with crypto coins as they vote on topics such as celebrity favorites, policies, and even fiscal matters.
The Love Hate Inu platform also allows users to participate in polls either sponsored by Web3 or traditional companies, with rewards ranging from NFTs to metaverse-themed assets.
The platform is seeking to disrupt the $3.2 billion online survey market, particularly by attracting a younger audience who is often missing in the feedback ecosystem.
It provides a secure space for individuals to make their voices heard and become part of a community that values their opinions. Moreover, the blockchain infrastructure eliminates any potential for manipulation or corruption.
One of the main features that sets Love Hate Inu apart from other meme coins such as DOGE is its focus on providing real value for long-term holders. This is because it offers a deflationary token framework.
Only 10 billion tokens will ever exist, with 90% of them being made available to the public, while the remaining 10% will be held by the team.
With rumors of a tier-1 exchange listing in the near future, Love Hate Inu is likely to be a favorite with crypto investors. To celebrate, the team has also launched a campaign giveaway worth $10,000.
Visit Love Hate Inu Now
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com