Blockchain

Crypto Hiring Surged 80% in 2024—But Will It Continue in 2025?

Casey3 weeks ago3 weeks ago04 mins

The cryptocurrency job market saw a massive 80% increase in hiring in 2024 compared to the previous year, highlighting the industry’s rapid expansion. However, hiring slowed slightly in the fourth quarter, with 788 new jobs added in Q4 2024, down from 902 in Q3. According to Dragonfly Capital’s head of talent, Zackary Skelly, hiring trends followed a typical seasonal dip, as many candidates were focused on networking rather than actively job hunting. But despite this slowdown, interest in Web3 careers remains strong, with more professionals considering a transition from traditional tech (Web2) to blockchain-based industries. Web2 Talent Testing Web3, But Many Remain Hesitant One of the biggest challenges in hiring remains convincing Web2 engineers to fully transition into Web3 roles. While many are curious about blockchain opportunities, Skelly noted that they are “harder to convert” due to concerns about job stability, early-stage risk, and the volatility of the crypto industry. Meanwhile, non-tech professionals impacted by layoffs in the traditional finance and tech sectors are actively seeking jobs in the blockchain space. Regulatory shifts in the U.S. and abroad are also driving an increased demand for compliance, legal, and recruitment professionals. Hiring Trends: Legal & Compliance Jobs See Strong Growth While overall hiring slowed in Q4, legal and compliance roles saw a surge as crypto firms prepared for new regulations and long-term growth. With the crypto industry moving toward greater regulatory clarity, companies are securing top talent to navigate the evolving landscape. Looking ahead, Skelly emphasized three key areas for hiring growth in 2025: What’s Next for Crypto Hiring? While the momentum for crypto hiring is strong, companies must refine their hiring strategies, especially for non-tech roles and token-based compensation models. As regulatory clarity improves and the industry continues to mature, crypto hiring is likely to remain a hot sector in 2025—especially for those with expertise in compliance, AI, and blockchain development.

Pi Network Defies Market Downturn, Surges 22% Amid Controversy

Casey3 weeks ago3 weeks ago04 mins

Pi Network is making headlines again, this time for its unexpected 22% price surge in the last 24 hours, despite the broader crypto market showing signs of weakness. Currently trading at $1.90, Pi is just 10% below its all-time high of $2.10, which was set during its February 20 launch. The 24-hour trading volume has also soared past $700 million, signaling strong market activity. Technical Outlook: Bullish Momentum Holding Strong From a technical standpoint, Pi Network’s price movement suggests continued bullish momentum. The token has been trading well above its 25-period Exponential Moving Average (EMA) at $1.64, indicating strong short-term support. Prior to the breakout, Pi consolidated between $1.50 and $1.70 from February 24 to early February 26. With rising trading volume, the next resistance level is anticipated around $2.00. For this momentum to continue, the price needs to stay above $1.70 with sustained volume. If Pi experiences a pullback, key support levels to watch are $1.64 (25 EMA) and $1.50. Market Cap Controversy: Top 15 or Misleading Hype? Pi Network’s self-reported market cap has now surpassed $12 billion, which would theoretically place it within the top 15 cryptocurrencies by market capitalization. However, skepticism remains, as major tracking platforms like CoinMarketCap and CoinGecko have omitted Pi from their rankings due to a lack of independent verification. Criticism and Listing Speculation While Pi Network’s community continues to rally behind the project, it has not been without controversy. Critics have labeled it a pyramid scheme, with Bybit CEO Ben Zhou openly calling it a scam targeting the elderly. Additionally, Binance’s community vote on listing Pi Network has drawn backlash. Blockchain journalist Colin Wu has warned that Binance prioritizing user registrations and traffic could undermine its reputation by listing a project as controversial as Pi. As of February 22, Binance confirmed that the community vote had received 86% support for listing Pi, but the final decision is still pending. The voting period closes tomorrow, February 27, at 23:59 UTC, and if Pi secures a listing, it could serve as a major catalyst for further price movement. Final Thoughts: Hype or Long-Term Growth? Pi Network continues to polarize the crypto space. On one hand, its accessibility and strong community support have fueled massive adoption, but on the other, its market legitimacy remains questionable. With Binance’s decision looming, Pi’s price could either see another leg up or face a sharp correction depending on the outcome.

Switzerland’s Crypto Investment Landscape: A Growing Hub for Digital Finance

Casey3 weeks ago3 weeks ago05 mins

Switzerland has long been at the forefront of financial innovation, and its approach to cryptocurrency is no different. Dubbed “Crypto Nation,” the country has built a reputation as a global leader in blockchain and digital asset adoption. With clear regulations, institutional support, and a thriving ecosystem centered around Zug’s Crypto Valley, Switzerland has positioned itself as one of the most crypto-friendly jurisdictions in the world. Crypto Valley’s Booming Ecosystem At the heart of Switzerland’s crypto expansion is Crypto Valley, a blockchain hub in Zug that continues to attract high-profile companies and investors. By the end of 2024, the region’s total valuation had surged to $593 billion, with 17 blockchain companies reaching unicorn status (valued at over $1 billion each). The influx of venture capital and institutional investments has cemented Switzerland’s reputation as a prime destination for blockchain innovation. Additionally, the country has become a hotspot for crypto venture funding, securing $586 million in investments across 56 deals last year, accounting for nearly 30% of all blockchain funding in Europe. Major projects like Ethereum, Cardano, and Polkadot have also set up their bases in Zug, further reinforcing Switzerland’s dominance in the digital asset space. Swiss Banks Leading Crypto Adoption Unlike many global financial institutions that remain hesitant about crypto, Swiss banks have fully embraced digital assets, offering innovative services that bridge the gap between traditional finance and blockchain technology: With more than 60% of Swiss banks now developing crypto services, Switzerland’s financial institutions are rapidly integrating blockchain solutions into mainstream banking. The Future of Swiss Crypto Regulations Switzerland’s progressive approach to regulation has provided a stable and transparent environment for crypto businesses. The Swiss Financial Market Supervisory Authority (FINMA) continues to refine regulations to support industry growth while ensuring compliance and security. One of the most anticipated developments is a proposal to add Bitcoin to the Swiss National Bank’s reserves. If implemented, this could significantly boost Bitcoin’s legitimacy as a financial asset and strengthen Switzerland’s role as a leader in global digital finance. Final Thoughts: A Bright Future for Crypto in Switzerland With continued institutional adoption, regulatory clarity, and an expanding blockchain ecosystem, Switzerland is well on its way to solidifying its status as the world’s premier crypto hub. As more banks and financial institutions integrate digital assets, the country’s influence in the blockchain space will only continue to grow. For investors and businesses looking to enter the crypto market with confidence, Switzerland remains one of the most attractive destinations for digital asset innovation.

India’s Crypto Market Set to Exceed $15 Billion by 2035 Despite Regulatory Hurdles

Casey3 weeks ago3 weeks ago04 mins

India’s cryptocurrency market is experiencing rapid growth, with trading volumes nearly doubling in Q4 2024 to reach $1.9 billion. Despite strict taxation policies and regulatory uncertainty, the sector continues to thrive, particularly in smaller cities where people are turning to crypto as an alternative income source. A recent Reuters report highlights how job stagnation has driven an increasing number of individuals towards digital assets. Jaipur and Pune have emerged as crypto trading hotspots, thanks to a surge in retail investment and educational awareness around blockchain technology. Global Factors Driving India’s Crypto Boom Beyond domestic factors, global trends have also played a role in India’s crypto surge. The election of pro-crypto U.S. President Donald Trump has sparked renewed global enthusiasm for digital assets. Edul Patel, co-founder of Mudrex, observed: “There is a lot of curiosity at the ground level… especially with Trump becoming U.S. president and the entire flavor of crypto changing worldwide.” This renewed interest has even led to U.S.-based crypto exchanges looking to re-enter the Indian market. Kraken, which was previously banned in 2024, is reportedly planning a comeback, while Coinbase is also considering a return after exiting the country in 2023. Crypto’s Growth in India Despite High Taxes and Unclear Regulations India’s crypto market is projected to surpass $15 billion by 2035, despite major challenges: ✔ 30% tax on crypto gains – One of the highest in the world, discouraging some investors.✔ Lack of a clear regulatory framework – No new laws have been introduced, and crypto is not classified under existing securities rules.✔ Regulatory ambiguity – It remains unclear which government body has oversight over digital assets. Kush Wadhwa, a partner at Grant Thornton Bharat, believes that India’s young, tech-savvy population will continue driving adoption, making the country one of the biggest crypto markets in the world. Rising Crypto Scams Pose Security Challenges While India’s crypto adoption is on the rise, fraudulent activities are also increasing, raising concerns over investor safety. The Enforcement Directorate (ED) recently busted a ₹600-crore crypto scam.Indian national Chirag Tomar was indicted in the U.S. for defrauding victims of $20 million through fake exchanges.Investigators found that ₹15 crore (~$1.7 million) was funneled to Tomar and his family. As scams rise, regulators face a delicate balancing act—promoting innovation while ensuring investor protection. What’s Next for India’s Crypto Market? With retail investment surging, U.S. exchanges returning, and government policies still unclear, India’s crypto market is at a crossroads. The country has the potential to become a global crypto leader, but much depends on how regulations evolve.

Crypto Boom in India’s Smaller Cities as Job Market Struggles

Casey3 weeks ago3 weeks ago04 mins

The cryptocurrency wave is surging across India’s smaller cities, as more people turn to digital assets as an alternative income source amid rising unemployment and tightening financial regulations. A recent Reuters report highlights that the government’s crackdown on derivatives trading—with higher taxes and stricter compliance—has pushed many traders toward crypto markets. Crypto Trading Surges in India’s Non-Metro Cities The trend is most visible outside major metropolitan areas. According to CoinSwitch, seven out of ten cities with the highest crypto activity in 2024 are non-metro regions. This suggests that crypto adoption is no longer limited to major financial hubs like Mumbai, Delhi, or Bangalore. Data from CoinGecko supports this shift, showing that between October and December, trading volume for Bitcoin (BTC) and Ethereum (ETH) surged to $1.9 billion, reflecting a strong demand for digital assets. Pro-Crypto Sentiment Boosted by Global Events One key driver of this trend is the growing global mainstream acceptance of crypto, particularly following the U.S. presidential election. Analysts believe that the election of a pro-crypto leader, Donald Trump, has renewed confidence in digital assets worldwide. Edul Patel, co-founder of Indian crypto exchange Mudrex, noted: “Especially with Trump becoming the U.S. president and the entire flavor of crypto changing the world over.” India’s Crypto Market Could Grow to $15 Billion by 2035 Despite regulatory uncertainty, scams, and India’s 30% tax on crypto profits, the country’s crypto sector is still on track for massive growth. Chainalysis predicts that India’s crypto market will expand from $2.5 billion to $15 billion by 2035. The shift toward digital assets is also being fueled by economic factors, particularly unemployment, which has reached multi-year highs. With fewer job opportunities, people in smaller cities are looking for alternative ways to earn income, and crypto trading is emerging as a preferred option. Balaji Srihari, VP at CoinSwitch, noted: “Growth is now being driven by non-metro cities. That’s true for the stock world, and it’s true for crypto.” Regulatory Uncertainty Poses Risks While India’s crypto adoption is growing rapidly, a lack of clear regulations leaves investors vulnerable. The 2024 WazirX hack, where $235 million was stolen, serves as a stark reminder of these risks. Even after nine months, affected users remain entangled in legal battles, with no clear resolution in sight. Without stronger regulatory safeguards, the future of India’s crypto sector remains uncertain. However, with rising adoption in smaller cities, increasing global momentum, and more traders entering the space, India is set to become a key player in the evolving crypto landscape.

Crypto Market Bleeds as Trump’s Tariff Threat Shakes Investors

Casey3 weeks ago3 weeks ago03 mins

The cryptocurrency market is experiencing a sharp downturn, with XRP, Solana (SOL), and Ethereum (ETH) leading the sell-off after President Donald Trump reaffirmed his plan to impose 25% tariffs on Canada and Mexico. The announcement has added to market uncertainty, causing widespread liquidations and significant outflows from crypto investment products. Solana Faces Double Pressure: Meme Coin Deadline & Money Laundering Links Solana is among the hardest hit, plunging over 12% in the past 24 hours. While broader market conditions contributed to the decline, additional pressure came from a deadline for meme coin activity on its blockchain. Adding fuel to the fire, crypto investigator ZachXBT revealed that multiple meme coins launched on Solana’s Pumpfun platform are linked to organizations allegedly laundering stolen funds for North Korea’s Lazarus Group. These revelations have further dampened investor confidence in Solana’s ecosystem. XRP Drops Nearly 13% Following Trump’s Tariff Reaffirmation Ripple’s XRP has plunged almost 13%, reacting sharply to Trump’s statement that the tariffs on Canada and Mexico will proceed in March as planned. Despite earlier attempts at negotiation, both nations have failed to reach an agreement with the U.S. government, forcing investors to reassess risk exposure in the crypto market. Market-Wide Sell-Off Wipes Out $250 Billion The market-wide fear caused Bitcoin (BTC) to dip below $92,000, leading to an 8% drop in total cryptocurrency market capitalization, erasing nearly $250 billion in value. According to Coinglass data, liquidations have surged, with nearly $1 billion in futures contracts wiped out, primarily from Bitcoin, Ethereum, and Solana. Bitcoin ETF Outflows Signal Institutional Uncertainty Adding to the negative sentiment, Bitcoin ETFs recorded $571 million in outflows last week—the second consecutive week of losses since the start of the year. According to CoinShares’ weekly ETF report, investors are pulling money out due to growing macroeconomic concerns, including the new tariffs and expectations surrounding Federal Reserve policies. Is the Market Bottoming or Just Getting Started? With fear gripping the market, many investors are watching key levels for potential rebounds. Will Bitcoin hold above $90,000? Will Solana and XRP find support, or is more pain ahead?

Crypto Market in Fear Mode: Sentiment Hits Lowest Level Since 2024

Casey3 weeks ago3 weeks ago02 mins

The Crypto Fear & Greed Index has plunged into “Extreme Fear” territory, dropping from 49 to 25 in just 24 hours—its lowest level since September 2024. This sharp decline reflects growing uncertainty as the market reels from a mix of macro pressures, major sell-offs, and security concerns. What’s Driving the Market Panic? Massive Sell-Offs – Ethereum (ETH) is down 10%, Solana (SOL) has dropped 14%, and Bitcoin (BTC) has fallen below $93,000. The broader market downturn has triggered nearly $1 billion in liquidations, wiping out overleveraged long positions. Bitcoin ETF Outflows – Over $1 billion has exited Bitcoin ETFs in the last two weeks, signaling reduced institutional confidence. Open interest in crypto futures has also dropped by 5% to $108 billion, reflecting lower risk appetite. Macroeconomic Uncertainty – Investors are on edge after Trump’s announcement of 25% tariffs on Canada and Mexico, raising fears of economic slowdowns. Meanwhile, higher-than-expected inflation data has fueled concerns that the Fed may delay rate cuts, keeping borrowing costs high. ByBit Hack Fallout – The $1.4 billion ByBit hack, one of the biggest exchange breaches in history, has further rattled investors. Although ByBit has covered the losses, the hack has reignited concerns over crypto exchange security, adding to the market’s overall bearish tone. Market Outlook: A Maturing Industry or a Warning Sign? Despite the negative sentiment, analysts point out that the current market reaction is more measured than past crises, such as the FTX collapse in 2022. This suggests that while fear is high, the industry is growing more resilient and better equipped to handle market downturns.

WallStreetBulls Sparks XRP Surge – Is a Breakout Coming?

Casey3 weeks ago3 weeks ago03 mins

The power of social media in the crypto market was on full display when a simple tweet from WallStreetBulls (@w_thejazz) set off a wave of excitement among XRP traders. The post, which read “True – 100% it will happen “, lacked details but was enough to send XRP’s price surging from $0.65 to $0.72 in just 30 minutes. The immediate reaction was a massive 45% jump in trading volume, with over 1.2 billion XRP traded in the same timeframe. This surge highlights how quickly sentiment can shift in the cryptocurrency market—especially for assets like XRP, which are known for their speculative appeal. XRP Trading Metrics Show Bullish Momentum 📊 XRP/USD Open Interest – Increased from 500 million to 650 million XRP, signaling stronger bullish sentiment.XRP/BTC Pair Movement – Gained 2% against Bitcoin, climbing from 0.000015 BTC to 0.0000153 BTC.Volatility Index Surge – Spiked from 60 to 85, reflecting rising uncertainty and market activity. Technical Indicators Confirm Strength RSI (Relative Strength Index) – Jumped from 60 to 75, pushing into overbought territory.MACD (Moving Average Convergence Divergence) – Flipped bullish, signaling potential upside momentum.Active Addresses – Increased 10% to 220,000, showing higher network participation.Average Transaction Size – Rose from 1,500 XRP to 2,000 XRP, indicating larger trades. AI Trading and Market Manipulation? Interestingly, AI-driven trading bots, which account for around 30% of trading volume, likely played a role in amplifying the price movement. These bots react to trending sentiment, meaning a viral tweet like this could have triggered algorithmic buying, accelerating the rally. Is XRP Ready for a Breakout? With resistance at $0.72 now tested, traders are eyeing a potential breakout if XRP can sustain this momentum. If the $0.72-$0.75 range is cleared, analysts suggest XRP could push toward $0.80 and beyond in the near future.

ByBit Hack: Crypto Industry Reacts to the Largest Exchange Breach in History

Casey3 weeks ago3 weeks ago03 mins

The crypto world was thrown into turmoil after ByBit suffered a massive $1.5 billion hack, marking one of the biggest security breaches in exchange history. As industry experts assess the fallout, key figures like Binance co-founder Changpeng Zhao (CZ), Ledger, and Fireblocks have weighed in on what went wrong and how future breaches can be prevented. How Did the Hack Happen? According to CZ, the ByBit exploit—along with other recent hacks on exchanges like Phemex and WazirX—points to a vulnerability in multisig wallets. These wallets require multiple approvals for transactions, but in this case, hackers disguised their malicious transfer as a routine transaction, tricking authorized signers into approving the theft. CZ’s Warning: “There is a pattern where hackers steal large amounts of crypto from multi-sig cold storage solutions.” He urged exchanges to rethink their reliance on multisig security. Ledger Calls for ‘Clear Signing’ to Prevent Blind Transactions Hardware wallet developer Ledger echoed CZ’s concerns, emphasizing that ‘Blind Signing’ may have played a role in the hack. This process allows transactions to be approved without displaying full details, making it easier for attackers to slip through unnoticed. ✅ Ledger’s Solution? ‘Clear Signing’, which ensures transaction details are fully visible before approval, reducing the risk of hidden malicious activity. Fireblocks Suggests MPC Wallets & Off-Exchange Settlement Another major response came from Fireblocks, a Web3 security firm that suggested two key security improvements: 🔹 Multi-Party Computation (MPC) Wallets: Instead of requiring multiple signatures, MPC wallets split a wallet’s private key among several independent parties, preventing a single compromised input from leading to a full breach. 🔹 Off-Exchange Settlement: Fireblocks encouraged keeping customer funds in segregated accounts rather than directly on exchanges, reducing exposure to large-scale hacks. What’s Next for Crypto Exchange Security? With ByBit now investigating the breach and vowing to return customer assets, this incident has triggered discussions about how the industry can evolve to prevent future attacks. Will exchanges finally move away from multisig wallets?Will ‘Clear Signing’ become the new industry standard?Are MPC wallets the next big thing in crypto security?

Hong Kong and Singapore Lead the Race to Become Asia’s Crypto Hubs

Casey3 weeks ago3 weeks ago04 mins

As the global crypto market gains momentum, Hong Kong and Singapore are emerging as the frontrunners in Asia’s push to establish themselves as major digital asset hubs. With Bitcoin recently nearing $110,000, governments worldwide are seeking to tap into the renewed enthusiasm for crypto. Hong Kong’s Approach: Attracting Liquidity and Expanding Offerings Hong Kong regulators have made it clear that liquidity is key to strengthening the city’s position in the global crypto market. Officials are exploring ways to attract institutional and retail investors, including introducing riskier crypto products like derivatives and margin financing. 📌 Hong Kong’s Centralized Exchanges Surge: In the first half of 2024, centralized exchanges in the city received $26.6 billion—almost triple the previous year and nearly double Singapore’s $13.5 billion. 📌 New Regulations on the Horizon: The Securities and Futures Commission (SFC) is considering expanded rules for custody services, staking, and over-the-counter (OTC) trading, aiming to create a robust but business-friendly regulatory environment. 📌 China’s Crypto Ban, But Hong Kong’s Blessing? While mainland China has maintained its ban on crypto since 2021, Hong Kong continues to play a key role as China’s financial gateway, with many industry insiders believing the city’s pro-crypto stance aligns with Beijing’s broader financial strategy. Singapore’s Early Lead in Digital Asset Regulation Singapore has been one step ahead in establishing a regulated framework for digital assets, issuing 30 Major Payment Institution licenses to firms dealing in digital tokens. The Monetary Authority of Singapore (MAS) has actively engaged with global financial institutions to explore asset tokenization through initiatives like Project Guardian. 📌 Project Guardian’s Impact: This initiative, launched in 2022, brought together regulators and major banks to explore blockchain-based financial instruments, solidifying Singapore’s reputation as a leader in regulated crypto innovation. 📌 Regulatory Balance: Unlike Hong Kong’s approach of expanding financial products, Singapore has focused on early and clear regulation, ensuring businesses operate within a stable and predictable legal framework. Challenges and Competition in the Region While both cities are racing ahead, they also face challenges:Hong Kong’s strict licensing process has led to eight pending applicants and 13 withdrawals, as companies struggle to meet compliance requirements.Singapore’s licensing process, while structured, limits riskier products, which may slow institutional inflows compared to Hong Kong’s aggressive push for global liquidity.Dubai is emerging as a major competitor, attracting businesses with its pro-business policies and tax incentives.

Pi Network’s Mainnet Goes Live – A Game Changer for Crypto Mining?

Casey3 weeks ago3 weeks ago02 mins

The Pi Network has officially launched its mainnet, marking a major milestone in its journey to make crypto mining accessible to everyone. Unlike traditional cryptocurrencies that require power-hungry mining rigs, Pi Network allows users to mine Pi coins directly from their smartphones—a concept that could reshape how people interact with digital currencies. What Makes Pi Network Different? For years, cryptocurrency mining has been limited to those with expensive hardware and high electricity consumption. Pi Network eliminates these barriers, enabling anyone with a smartphone to participate. This approach democratizes crypto mining, making it more inclusive and accessible. With the mainnet now live, security and decentralization are expected to improve as more users validate transactions, strengthening the network’s reliability. However, the big question remains—can Pi Network achieve widespread adoption and real-world utility? What’s Next for Pi Network? 🔹 Decentralization & Security – More users are now involved in transaction validation, making the network more resilient.🔹 Market Impact – If Pi gains traction, it could challenge traditional cryptocurrencies like Bitcoin and Ethereum in terms of accessibility.🔹 Merchant Adoption – The long-term success of Pi depends on whether businesses and consumers embrace it for real-world transactions. Will Pi Network Become a Mainstream Crypto? With its innovative mining model and growing community, Pi Network has the potential to disrupt the crypto space. But its future hinges on gaining real-world utility—without adoption, even the most promising projects can struggle.

SUI’s 30% Rally and XYZVerse’s $8M Presale Spark Market Optimism

Casey3 weeks ago3 weeks ago03 mins

The crypto market is showing signs of renewed enthusiasm, fueled by SUI’s impressive 30% surge and XYZVerse’s successful $8 million presale. These developments suggest that investor confidence may be returning, potentially setting the stage for broader market momentum. XYZVerse: A Meme Coin With a Competitive Edge XYZVerse isn’t just another meme coin—it’s a sports-driven crypto project that blends the thrill of football, basketball, MMA, and esports with blockchain technology. The project has already earned the title of “Best New Meme Project”, and its growing community believes it could become the Greatest of All Time (G.O.A.T.) in the crypto space. What makes XYZVerse stand out?✅ Strong community backing and a structured roadmap✅ Designed for real engagement, not just speculation✅ Early investors can still buy at $0.0001 before listing✅ Ambitious goal of reaching $0.1—a staggering 99,900% growth potential SUI: Defying Volatility With a Strong Comeback SUI has been battling market fluctuations but still managed to climb 30%, currently trading between $2.87 and $3.70. While the token is down 8.06% over the past week and 25.37% in the last month, its six-month rally of 223.98% highlights its long-term strength. What’s Next for SUI? 🔹 Key Resistance Levels: $4.14 and $4.97 – breaking these could signal further upside🔹 Support Levels to Watch: $2.47 and $1.64 – holding above these may prevent further downside🔹 RSI Nears Overbought Zone: If momentum continues, SUI could see another breakout Final Thoughts With SUI showing resilience and XYZVerse gaining momentum, the crypto market appears to be heating up once again. Whether this marks the start of a new bullish phase or just short-term excitement remains to be seen.