Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana (SOL) is expected to surge past $200, Render (RNDR) aims for new highs above $10, and Rebel Satoshi (RBLZ) continues to be a top pick for substantial returns.

With the market slowly recovering experts have picked the leading cryptos to buy to give your portfolios a boost. Two of their picks are the top crypto coins, Solana (SOL) and Render (RNDR). The third token on their list is the recently launched Rebel Satoshi (RBLZ). Let’s dig into what makes SOL, RNDR, and RBLZ the top altcoins for boosting profits. 

You might also like: Rebel Satoshi’s RECQ presale heats up; BNB and SOL target return to ATH

Solana continues to accumulate 

In 2024, the Solana token will be one of the best altcoins for its investors. However, as the market dropped on April 12, the Solana token also went down with it. The Solana price dipped by 28.4% from $174.57 on April 12 to $124.87 on April 14. Since then, the Solana token has reversed its downtrend and has been in an accumulation with a small rise. 

The Solana token was trading at $146.86 on April 25 with a surge of 17.6%. A major reason behind the Solana accumulation was its continued ecosystem growth. For instance, on April 24, the Tokero Crypto Exchange announced its integration with Solana. 

Due to such developments, experts anticipate a breakout for Solana is imminent. They predict that the Solana token will soon rise above $200 and beyond.

You might also like: Rebel Satoshi emerges as SOL, LINK investors’ choice as halving excitement ends

Render trades sideways after making a sharp recovery 

The Render token initially dropped to $6.83 on April 14 as the market faced high volatility. However, the Render token price sharply recovered to $9.38 on April 15, with a surge of 37.3%. Since then, the Render token has shown resilience and has been trading sideways with a small dip. 

As of April 25, the Render token was trading at $8.41 with a drop of 10.3%. Amid this subdued price action, the Render network continued its path toward expansion. The voting for RNP-012: Render Network Wizard for Maxon Cinema 4D was officially closed on April 24. 

As a result, experts have a bullish outlook for the Render token price in the coming months. They predict that the Render price will soar past $10 and make new highs. 

You might also like: SOL, SHIB shines post-halving as investors eye Rebel Satoshi Arcade

Rebel Satoshi solidifies its position 

The Rebel Satoshi project is built on the Ethereum network and inspired by Guy Fawkes and Satoshi Nakamoto. It is led by its Recusant community members and is designed to bring a decentralized revolution. Rebel Satoshi aims to challenge centralized market forces and take back control from the elites. 

Rebel Satoshi is not just a meme coin project but has a vast ecosystem revolving around the RBLZ and the RECQ tokens. While RBLZ is the OG meme coin, the RECQ token is the utility and gas token for Rebel Satoshi. Rebel Satoshi aspires to grow to a $100 million market cap and has made the RBLZ and RECQ contracts public. 

The RBLZ presale generated 150% returns for its investors before it was listed for trading on Uniswap and Coinstore. The RBLZ token is in price discovery right now amid a volatile market after surging 1,500% on March 6 to $0.400. As a result, experts foresee another surge in the RBLZ token once the market recovers. Moreover, the RECQ presale with  237.8% returns is currently underway.

To learn more, visit the official Rebel Satoshi website or contact Rebel Red via Telegram.

Read more: Solana and Cardano dip as Rebel Satoshi’s presale excites market

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

A Japan-based Akita dog society has started issuing digital pedigree certificates on a blockchain network in a bid to enhance convenience and authenticity for dog owners.

The Akita Inu Preservation Society, a Japan-based dog society, has embraced blockchain technology to issue digital pedigree certificates for the prized Akita dog breed in an effort to combat forgery and streamline administrative processes.

According to a report from Japan Today, the initiative is developed in collaboration with the local IT firm called Meta Akita Inc. and U.S.-based Heirloom Inc., the society aims to enhance authenticity and convenience for dog owners.

In a commentary to the media outlet, a spokesperson for the Odate-based dog society said the decision to utilize blockchain came after its overseas membership increased from about 300 people in 2022 to around 500 in 2023. Coupled with the rapid expansion, reports of forged pedigree documents in China prompted the adoption of blockchain.

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“In addition to the convenience of digitalization, we hope that owners will also have peace of mind in knowing that their dog is purebred.”

Society board member Yuki Shoji

Now, the dog society wants to address logistical hurdles by digitizing document management during transit. The revamped issuance process, accessible through the society’s website and a dedicated smartphone app, is expected to make certificate delivery faster and reassure owners about their dogs’ pedigrees.

The capability of blockchain to transparently track transactions has been considered one of its fundamental use cases for quite some time. In 2021, India’s Maharashtra, one of the most industrialized states in the country, adopted LegitDoc, an Ethereum blockchain-powered system developed by Bangalore-based tech company Crossforge Solutions Pvt Ltd, to issue digital diploma certificates in a move aimed to combat certificate forgery cases.

Read more: Iconic dog photo from Dogwifhat meme coin sells at auction for $25k as NFT

Tron founder Justin Sun has voiced his doubts about the likelihood of a spot Ethereum exchange-traded fund (ETF) being approved in the upcoming month.

The crypto mogul’s latest prediction echoes a similar opinion from multiple analysts, who also expect the Securities and Exchange Commission (SEC) to reject applications for spot Ether ETFs from multiple issuers.

In an April 28 X post, Sun weighed in on the subject, adding:

“The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto. But we’ve always been here, haven’t we?”

According to a Reuters report, U.S. financial firms do not expect spot Ethereum ETF approval to happen in May, citing discouraging meetings with the watchdog in recent weeks.

So far, Blackrock, VanEck, ARK Investment Management, and six other issuers have filed with the SEC to list spot Ethereum ETFs. The SEC is required to make decisions on VanEck’s and ARK’s files, which are first in line, by May 23 and May 24, respectively, according to the report.

You might also like: Franklin Templeton’s Ethereum ETF hits DTCC, hopes for SEC approval

However, the prospects for these spot Ethereum ETFs being approved by the SEC appear to differ from those for spot Bitcoin ETFs, which were approved in January.

In March, Bloomberg ETF analyst Eric Balchunas assessed the likelihood of a spot Ether ETF being approved in May at about 35%. He pointed out that the SEC’s approach was less proactive than that for the Bitcoin ETF applications.

Meanwhile, Sun is no stranger to dealing with the Securities and Exchange Commission. The SEC recently sued Sun on claims of fraud, market manipulation, and airdropping unregistered securities.

According to the SEC lawsuit, Sun and the aforementioned crypto businesses violated federal securities laws by offering and selling unregistered securities such as Tronix (TRX) and BitTorrent (BTT).

In updated court filings, the SEC claims that the Tron founder “travelled extensively” to the U.S. throughout “his work on behalf of the Tron Foundation, the BitTorrent Foundation, and/or Rainberry.”

Sun holds approximately $1 billion in assets in multiple wallets linked to him, with the $280 million USDD algorithmic stablecoin being his largest holding, according to Arkham’s data.

Read more: Justin Sun and crypto Twitter react to SEC’s recent crusade

Australia gears up for a crypto boom as the country’s largest securities exchange is poised to list its first spot-Bitcoin ETFs by the end of 2024.

Australian Securities Exchange (ASX) is anticipated to greenlight the first spot Bitcoin exchange-traded funds (ETFs) for the main board by the end of 2024, following the previous approvals of such financial products in the U.S. and Hong Kong.

According to a Bloomberg report, at least several issuers are already working on launching their products on ASX, including BetaShares, VanEck, and DigitalX. However, a specific timeline for the approval of spot crypto ETFs is yet to be clarified, as a spokesperson for ASX said the exchange is still engaged with multiple issuers on the matter.

Founded in 1987, ASX has an average daily turnover of AUD $4.685 billion (~$3 billion) and a market capitalization of around AUD $2.6 trillion (~$1.7 trillion), making it one of the world’s top 20 listed exchange groups, and the largest in the southern hemisphere.

You might also like: Spot Ethereum ETFs reportedly facing potential SEC denial

In a commentary for Bloomberg, Jamie Hannah, deputy head of investments and capital markets for VanEck Australia, suggested that self-managed superannuation programs, which hold about a quarter of the country’s $2.3 trillion pension market, could emerge as key buyers of spot-crypto funds.

The U.S. Securities and Exchange Commission (SEC) approved multiple spot Bitcoin ETFs in early 2024 for listing on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE, following a decade-long hunt for these products. A few months later, in mid-April, Hong Kong conditionally approved its first spot Bitcoin and Ethereum ETFs, positioning the city to lead Asia as the first to embrace crypto as mainstream investment instruments in the region.

Read more: Indonesia and Australia sign agreement on crypto taxation

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As whispers of Bitcoin’s mythical ‘supercycle’ grow post-halving, Galaxy Fox emerges as a leader in the exploding meme/gamefi market, capturing investor interest with a standout ICO.

The cryptocurrency market thrives on anticipation and speculation. With the Bitcoin halving event already concluded, whispers of a legendary “supercycle” are swirling among investors. But is this a dream or a tangible reality? This article dives into the murmurs of a Bitcoin supercycle and introduces Galaxy Fox, the upcoming ICO project poised to dominate the burgeoning meme/gamefi market.

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Anticipation of a supercycle as Bitcoin halving concludes

Now that the Bitcoin halving event has already come to pass, discussions about the potential for a supercycle have intensified. Halving, a process integral to Bitcoin’s protocol, involves reducing the reward for mining new blocks by approximately half every four years. This event serves to limit the supply of new Bitcoins entering circulation, a factor that historically has had a profound impact on the cryptocurrency market.

Lucie, a member of the Shiba Inu team, recently sparked conversation within the crypto community by suggesting the possibility of a supercycle. Pointing to a chart that illustrates a pattern of asset bottoming and subsequent accumulation, Lucie argues that Bitcoin may be on the cusp of a prolonged bull run. With each halving event historically triggering significant price surges, the reduction in Bitcoin’s supply has become a driving force in the market.

The notion of a supercycle goes beyond the typical boom-and-bust cycles that have characterized Bitcoin’s price history. Instead, it suggests a sustained period of growth and market dominance fueled by a confluence of factors, including increased institutional adoption, mainstream acceptance, and growing investor confidence.

You might also like: $18.5M ARB tokens on the move as GFOX nears launch 

GFOX to dominate meme/gamefi market

While the debate over Bitcoin’s supercycle continues to captivate the crypto community, a new contender has emerged on the scene with the potential to dominate the burgeoning landscape of meme and gamefi tokens – Galaxy Fox.

Redefining the gamefi experience

This new crypto has also rapidly garnered attention within the crypto sphere, positioning itself as a frontrunner in the meme and gamefi market. With a fruitful presale that sold out in record time, raising over $6 million, Galaxy Fox has demonstrated strong investor interest and confidence in its vision.

The project’s integration into the web3 gaming ecosystem and the versatile utility of its ERC20 token have been key factors in its early results. The GFOX token, which saw its price soar by 300% during the presale, has captured the imagination of investors seeking exposure to the rapidly growing gamefi sector.

You might also like: Solana NFT sensation nets $10M, GFOX becomes presale outlier

Tokenomics and utility

Galaxy Fox’s token listing on Uniswap marked the beginning of its journey toward widespread adoption. With a carefully crafted vesting schedule and liquidity pool allocation, the project aims to ensure stability and sustainability in its tokenomics.

Staking opportunities further enhance the value proposition for GFOX holders, offering attractive APY rates and lock-up periods designed to incentivize long-term participation in the ecosystem. As the project continues to expand its offerings and partnerships, the potential for this crypto to deliver substantial returns remains enticing.

Game launch and beyond

Beyond its financial potential, Galaxy Fox is set to disrupt the gaming industry with the launch of its 3D web runner game scheduled for May 11. Combining elements of meme culture and blockchain technology, the game promises to offer an immersive experience for players while further bolstering the utility of the GFOX token.

You might also like: GFOX presale hits $5.5M as SOL targets the $200 level again

Conclusion

The convergence of cryptocurrency and gaming represents a paradigm shift in how we interact with digital assets and entertainment. Whether Bitcoin’s mythical supercycle materializes or not, the rise of projects like Galaxy Fox underscores the transformative potential of blockchain technology.

As investors navigate the ever-evolving landscape of cryptocurrencies and decentralized applications, opportunities abound for those willing to explore new ventures like Galaxy Fox.

To learn more about GFOX, visit the Galaxy Fox presale or join the community.

Read more: GFOX eyes $6 million target as ICP gets steamy

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Legacy Wealth and United Capital Management have invested $20 million in Bitcoin through Fidelity’s ETF, while Borroe Finance raises nearly $4 million by monetizing future earnings via NFTs.

While US Asset Management firms invest over $40.88 million into FBTC to increase BTC portfolio, Borroe Finance (ROE) continues paving its path to become one of the top defi coins. Given its price trajectory and real-life use cases, ROE has emerged as a beacon of hope to investors.

You might also like: Confidence returns for BONK, SHIB, investors; Borroe Finance could record gains

US asset managers bought Bitcoin through Fidelity’s ETF

As per Eric Balchunas’s tweet on April 23, 2024, it is revealed that two different US investment advisors have bought Bitcoin through Fidelity’s ETF. These were Legacy Wealth Asset Management from Minnesota and United Capital Management from Kansas. They put $20 million to FBTC. So now, they have allocated 6% and 5% of their portfolios.

Reports reveal that these US Asset management firms’ allocations have surpassed $17 million which was invested into BlackRock’s ETF and IBIT. Moreover, United Capital Management’s website also posted a banner of “WE’RE COMING FOR YOUR COINS DEGENS.” But it was taken down soon after.

This influx of around $40.88 million investment in FBTC has boosted spot Bitcoin ETF inflows, dominating in April’s second-week outflows.

Despite making remarkable inflows in the spot Bitcoin ETF,  there was barely any impact on the Bitcoin price trend. However, BTC has experienced a noticeable 3.35% surge in the third week of April, trading at around $64,100. 

You might also like: As Shiba Inu and Avalanche falter, investors turn to Borroe Finance 

Borroe Finance attracts investors

Borroe Finance is taking the crypto world by storm. It has emerged as a pioneering force in the CrossFi arena, offering an AI-funding marketplace for avid web3 users and businesses. This approach to crowdfunding has become a stand-out for users as well as investors. 

That’s why Borroe Finance has been making rapid waves in the presale stages. This ongoing presale success has blown investors’ minds.

Borroe Finance’s platform allows web3 players to generate upfront cash. By converting their future earnings into popular NFTs, these players can trade those NFTs in the secondary marketplace. Additionally, the marketplace is streamlined with a P2P ecosystem for trading convenience.

Moreover, Borroe Finance has adopted many unique approaches in its utility token. Some of them are token burn strategies, liquidity lock mechanisms, and many more, which will boost the value of ROE by stirring demands in the market.

For instance, Borroe Finance has already raised $3.97 million by selling over 298 million ROE tokens. This has showcased ROE’s growing optimism in the market. Anyone willing to buy ROE right now can get it at $0.02. 

Once the presale ends, ROE will hit the mainstream market at $0.025. With this price surge, early investors will receive a 150% hike on their investment.

To learn more about Borroe Finance, visit the Borroe Finance Presale, join the Telegram group, or follow Borroe Finance on Twitter.

Read more: SOL, DOGE show modest gains as Borroe Finance steals the spotlight 

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

The top cryptocurrencies to keep an eye on this week include Bitcoin (BTC), Ethereum (ETH), and Pepe (PEPE).

Bitcoin whales taking profits

Bitcoin has seen a decrease in whale activity since March 14. However, a surge in whale transactions could potentially boost BTC prices.

Notably, crypto analyst Lookonchain recently highlighted a significant movement of 1,200 Bitcoin, worth an eye-watering $77.67 million, by a whale into the Kraken exchange. 

A whale deposited 1,200 $BTC ($77.67M) into #Kraken 43 minutes ago.The whale accumulated 24,755 $BTC ($1.68B) at an average price of $68,051 from Mar 1 to Apr 15.Address:bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh pic.twitter.com/fQP33Se1t8

— Lookonchain (@lookonchain) April 26, 2024

According to the analyst, the same whale had accumulated 24,755 BTC valued at $1.68 billion between March 1 and April 15, with an average purchase price of $68,051 per Bitcoin.

Furthermore, data from CryptoQuant shows that exchange inflows from Bitcoin whales have reached their highest level in five months, indicating a possible profit-taking trend among major holders, which analysts feel could lead to a significant price correction in the coming week.

$BTC : Surge in Whale Exchange Inflow“This uptick potentially signifies significant profit-taking by whales amidst the 2024 #Bitcoin bull run.” –By @phi_deltalyticsLink to the full post 👇https://t.co/jWdPEJz7V0

— CryptoQuant.com (@cryptoquant_com) April 26, 2024

Large-scale transactions can exert substantial influence on the crypto market, with Bitcoin whales holding greater sway given the coin’s outsized influence on the broader crypto market, where it has more than 50% dominance.

On the market front, Bitcoin’s price recovery attempts have slowed down, with the asset gaining 1% in the last 24 hours to trade at $63,520 after days of being in the red.

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Ethereum stays green

Altcoins are also facing downward pressure, contributing to a $150 billion decline in the total crypto market cap over the weekend.

Ethereum, after trading close to its support trendline within a symmetric triangle pattern, seems to be sparking bullish sentiment in the market. 

While the ETH token’s price action has corrected by 32% from its yearly high of $4,094, it maintains a positive year-to-date outlook of more than 75%. Additionally, it was pretty much the only high-cap cryptocurrency to stay in the green over the weekend. 

ETH 7-day price chart | Source: CoinGecko

As of now, the coin has continued its good run and is 5.5% higher than it was 24 hours ago. ETH is currently at the highest point it has been in the last 7 days, with analysts on X, including Satoshi Flipper, hinting at an incoming bull run given the coin’s underlying indicators.

$ETH /usdt DAILYYou only see bullish charts this perfect in a bull market. Now study what happened to price the last time RSI was in the mid 30's 🤌🚀connecting the dots now? pic.twitter.com/IFxzPKaSIV

— Satoshi Flipper (@SatoshiFlipper) April 27, 2024

PEPE closes off week in style

Another token that could be worth a closer look in the new week is Pepe. The third-largest meme coin by market cap has had a relatively strong performance since its launch in 2023 and is currently priced at $0.000007459. This is a 7.1% uptick in 24 hours and a nearly 28% increase this week, making it among the top gainers in the last 7 days. However, the current price is still a 4.8% decrease over the previous month.

PEPE 24-hr price chart | Source: CoinGecko

With a $3.1 billion market cap and $648 million 24-hour trading volume, Pepe’s market strength positions it among the top cryptocurrencies to watch. Despite experiencing retracements, the meme coin has shown resilience and could continue its upward trend in the coming weeks, supported by its strong trading volume and market interest.

In summary, Bitcoin, Ethereum, and Pepe are key cryptocurrencies to monitor this week as they navigate through market fluctuations and potential price movements driven by whale activity and market sentiment.

Read more: Beribit in turmoil after Russian officials contemplate crypto exchange ban

A U.S. presidential candidate is hyped about blockchain technology; Bitcoin’s bull run — post halving — appears doubtful; and regulators are expected to deny spot Ethereum ETF approval. Here’s crypto.news’ weekly recap.

RFK Jr. opines about blockchain

During an April 21 rally in Michigan, U.S. presidential candidate Robert F. Kennedy Jr. said that putting the U.S. budget on the blockchain would allow Americans to access any budget item at any time.

Integrating the budget with blockchain technology will significantly increase transparency, he says, adding, “If somebody is spending $16,000 for a toilet seat, everybody’s going to know about it.”

If the proposal comes to fruition, American taxpayers would be able to track where funds are being spent. The idea was well-received by some corners of the cryptocurrency community, with some claiming it would end corruption.

Standard Chartered doubles down

Geoff Kendrick, head of digital assets research at Standard Chartered, remains confident about the market’s capacity to recover by reiterating Standard Chartered’s statement from last month with a price prediction of $150,000 by year’s end.

A skeptical take: Bitcoin’s halving won’t spark a lasting bull run over the next 12 to 18 months, according to analysts at Paris-based Kaiko. Contrary to earlier expectations, the decrease in miners’ rewards from 6.25 BTC to 3.125 BTC may not serve as the primary catalyst for Bitcoin‘s growth, according to a recent research report.

Miners are also losing money. According to data provided by YCharts, the average transaction fee on the Bitcoin network declined by 28% to about $24.99 between April 22 and April 23.

Spot Ethereum ETF prospects

The U.S. Securities and Exchange Commission (SEC) announced a delay in its decision on the application, extending the review period by an additional 45 days to June 11.

Industry heavyweights, including BlackRock, Grayscale, VanEck, Franklin Templeton and ARK Invest, are contenders in the race to secure approval for their own spot in Ether ETFs.

However, the prospects for these Ethereum-based ETFs gaining approval from the SEC appear to be bleak, with one analyst assessing the likelihood of a spot Ether ETF being approved at about 35%.

Watch your wallets

Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill were arrested by U.S. authorities for laundering over $100 million.

Wasabi Wallet developer zkSNACKs is blocking U.S. citizens from accessing its services.

Phoenix Wallet will also cease operations for U.S. residents starting May 3, removing its app from U.S. app stores.

Legal perspectives

Custodia Bank filed a notice of appeal on April 26, challenging a lower court’s decision from March denying its attempt to officially join the U.S. banking system.

Pro-crypto lawyer John Deaton promised to file an amicus brief in support of Coinbase’s motion for an interlocutory appeal.

The SEC is suing a Bitcoin mining company Geosyn, alleging that the firm engaged in an unregistered securities offering, raising over $5.6 million through deceptive practices.

And MetaMask developer Consensys is suing the SEC over what it describes as the agency’s illegal attempt to reframe its constitutional authority to include oversight on Ethereum (ETH), crypto’s second-largest decentralized network. 

Bullish and bearish takes

The spot Bitcoin ETF sector is again in the red zone, experiencing a capital outflow of $217 million on April 25.

BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., is exposed to BTC ETFs offered by BlackRock and Grayscale, underscoring the growing institutional interest in cryptocurrencies.

Ethereum co-creator Vitalik Buterin recently highlighted that the proof of work (PoW) design held drawbacks that misaligned with the network’s long-term vision

Blockchain developer Movement Labs raised $38 million in venture capital; Polychain Capital led the effort. The news comes as VCs continue to express interest in the cryptocurrency sector. In the first quarter, VC volume saw an uptick for the first time since 2022, hovering at around $2.5 billion.

Read more: Beribit in turmoil after Russian officials contemplate crypto exchange ban

Over 50 clients of Russian crypto exchange Beribit attempted to stage a protest at the company’s office in Moscow.

According to reports, the unrest started on April 26 at the Federation Tower, the site of Beribit’s office, with clients clamoring for the return of approximately 400 million rubles, funds they were unable to withdraw for several days. 

The investors have voiced frustration over money being “stuck” during withdrawal processes, contrasting with smooth deposit transactions.

Efforts by Beribit staff to leave through alternative exits were obstructed by the irate investors, prompting police intervention. 

A circulating video on Telegram alleges that instead of cash, disgruntled clients were handed chocolates as a form of redress. 

In Moscow, depositors of the crypto exchange Beribit were given chocolates instead of moneyApproximately $4.3 million of investors' funds are frozen in the accounts of the crypto exchange. Customers have been storming the office for the second day, demanding their money back.… pic.twitter.com/udvlommsOI

— NEXTA (@nexta_tv) April 27, 2024

Mash, a Russian online newspaper, first reported the situation on Telegram.

Gazeta.Ru picked up the story, reporting that exchange employees made promises to refund 50% of investments immediately, with the remaining balance to be reimbursed within one to 15 days. 

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On April 26, Beribit’s official Telegram channel announced that following recent management changes at the exchange, a series of balance sheet discrepancies were discovered, forcing the company to institute a thorough audit process. 

According to the exchange, clients were also required to undergo KYC/AML verification processes, which it claims has caused a temporary backlog of requests for deposits and withdrawals. 

Beribit also clarified that clients who successfully pass the KYC/AML audit and verification will get back unrestricted access to use their accounts.

Amidst this tumultuous episode, a bill has reportedly been tabled in the State Duma proposing a ban on crypto exchange operations. The bill, if passed, would not affect crypto transactions or registered mining entities. Additionally, it includes a prohibition on cryptocurrency advertising.

Conversely, another legislator argued that banning exchanges could jeopardize Russia’s national security, highlighting cryptocurrency’s role in procuring weapons and defense assets from non-Western sources and circumventing sanctions.

Beribit, a registered crypto exchange facilitating ruble-crypto, P2P, USDT, and asset trading, recently underwent law enforcement scrutiny with searches conducted at their offices in March.

This scrutiny coincided with a temporary website outage, reportedly linked to investigations surrounding a terrorist incident at Crocus City Hall.

Read more: Phoenix Wallet halts services for US users amid regulatory uncertainty

Custodia Bank has filed a notice of appeal on April 26, challenging a lower court’s decision from March denying its attempt to officially join the U.S. banking system.

The Cheyenne, Wyoming-based bank is seeking a federal-level appeals court’s review of a decision by Judge Scott Skavdahl, who dismissed Custodia’s request for a Federal Reserve master account in the U.S.

A master account gives banks access to Federal Reserve services (i.e., the Automated Clearing House network for electronic payments).

Additionally, Custodia is appealing a bill of costs submitted by one of the defendants, the Federal Reserve Bank of Kansas City. The bill amounts to $25,728.25 for deposition transcripts.

Custodia argues that the decision on costs should be postponed until after the appeal is concluded, referencing a similar case where costs were not imposed at such an early stage.

On March 29, the court found that Custodia Bank was not entitled to a Fed master account and rejected a writ of mandamus, which would have required the Kansas Fed to deliberate on its application. Custodia’s petition was later dismissed for review.

The court concluded that banks are not legally entitled to master accounts simply because they can apply for them. It also determined that Custodia could not prove that the Federal Reserve Board of Governors made a final decision on the denial.

The court also ruled that it lacked jurisdiction over Custodia’s complaint due to the lack of a final decision.

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Custodia Bank, known for its specialization in crypto services and lack of FDIC insurance, contended that the Federal Reserve’s prolonged delay and eventual denial of its application were arbitrary and violated the Administrative Procedure Act.

The act oversees the processes federal agencies must follow in rule-making and enforcement.

Following the court order, Custodia CEO Caitlin Long told FOX Business that the bank would appeal the decision.

Long also argued that previous decisions have given the Federal Reserve “unfettered discretion” to deny new master accounts and shut current ones. She further stated that Custodia was not the only bank impacted by such a denial of access.

As crypto.news reported earlier, on Nov. 7, Long announced the launch of Custodia’s Bitcoin custody platform after gaining approval from the Wyoming Division of Banking.

The service aims to cater to businesses like fiduciaries and fund managers, enhancing operational efficiency and reducing risk.

Read more: Federal Reserve Board of Governors director urges caution while embracing crypto in banking

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

The fallout from the FTX collapse and the accompanying media circus left unexpected and wide-reaching disruption. Still, the truth is that it expedited the realization that centralized exchanges (CEXs) are broken. How we pick up the pieces will have a long-lasting impact on our industry. It is not the role of regulators to prevent another FTX collapse. 

You might also like: Lessons from 2023: the FTX trial and crisis management for crypto projects | Opinion

Without meaningful change, this new money system will continue to repeat mistakes from the past. Our industry and our emerging technologies must show the world that complaint decentralization is possible.

Compliance is the starting point

The FTX case highlights the risks of neglecting corporate compliance. One big lesson to take away from the FTX case is that better compliance is needed. We have to do a better job of tracking the money. With almost $9 billion of customer funds lost from the troubled exchange, it’s evident that CEXs must be built on a robust framework. This will serve as a foundation of trust and security for industry growth. 

In a post-FTX world, compliance and transparency must be prioritized. The FTX case emphasizes why we need corporate governance, covering cash controls, HR protocols, approval mechanisms, financial reporting, as well as internal and external audits. 

Yet better regulation is just a good start. 

Regulation alone is not enough

Following FTX’s collapse, regulated exchanges quickly began promoting their regulated custodial services. In the United States, regulated CEXs are obligated to segregate customer funds from their own in order to ensure funds are solely used as permitted by their users.   

Regulators have also been increasingly keen on enforcing new rules, yet this doesn’t eliminate significant risks. Traditional finance—despite its strict regulations aiming to prevent centralized failures—has seen repeated instances of risk mismanagement. The collapses of Bear Stearns, Lehman Brothers, and, most recently, Credit Suisse have also spelled the dangers of relying too much on human intervention. 

Regulation alone is not enough. Bad actors can still wreak havoc when they literally control the purse.

Self-custody is the key

So, the other big lesson is self-custody. It is talked about a lot in the industry, but what this means in practice is often disputed. The Bitcoin whitepaper still stands as a reminder of the basics: if you entrust exchanges and other third parties with your private keys, you relinquish control over your money. 

Once billed as a reputable exchange, FTX was considered a well-run, safe destination for crypto transactions. More than that, FTX was something of an industry darling. Yet, the reality was starkly different. A secret backdoor had been established that allowed Alameda Research, the trading firm linked to FTX’s downfall, to withdraw billions of customer funds. While beneficial in bullish markets, Alameda’s excessive leverage significantly magnified losses during downturns. When confronted with margin calls during the crisis, selling off collateral risked substantial value depreciation.

Part of the trauma caused to investors was the swift and unexpected collapse of the world’s second-largest exchange. The industry darling’s fortunes had seen a swift reversal practically overnight. In truth, optics and public perception coupled with FTX’s ludicrous marketing spending meant that the whole world took notice. 

Sadly, these same public optics led customers to mistakenly assume their funds would be shielded from speculative activities like those practiced by Alameda Research. In reality, following  FTX’s bankruptcy, the U.S. Securities and Exchange Commission (SEC) described FTX as providing Alameda Research a “virtually unlimited line of credit,” creating a multibillion-dollar deficit for retail investors in FTX.

The lesson learned was as shocking as it was damaging. Storing cryptocurrencies in any and every centralized exchange is hazardous. This was evidenced by the number of platforms suddenly halting withdrawals with little warning due to fears of a bank run, where everyone runs to a bank to withdraw their funds at once, and the bank, or in this case, centralized exchange, cannot meet the withdrawal demand.

That’s why self-custody matters. Keeping assets under your control is the sole means of mitigating loss risks.  However, in the event of a crypto exchange failure, retail investors should not be fine with accepting only a small portion of their assets years later. They deserve immediate access to 100% of their crypto at all times. Yet, while regulation and compliance are still valuable safeguards for an exchange, newer models are emerging that marry traditional legal funds management controls with self-custody. 

Shifting the paradigm with hybrid models

No amount of regulation will make a financial platform completely immune to failure. Even within regulated exchanges, users give up control of their assets to third parties for safekeeping. However, the means for a paradigm shift already exists. What if there was a way for CEXs to offer 100% self-custodial solutions? 

In recent years, hybrid exchanges have emerged as an answer. Blending the best of CEXs and decentralized exchanges (DEXs) will enable innovation and strengthen asset security. Users can trade directly on-chain without intermediaries. At the same time, traditional institutions can access decentralized finance features while benefiting from CEX security and liquidity. 

More importantly, the hybrid model, with its trustless risk management and self-custody, addresses concerns by relying on code rather than human intervention to manage risk effectively. Hybrid exchanges blend regulatory compliance with decentralized features, allowing users to engage directly with cryptocurrencies in secure wallets via smart contracts. Users also maintain direct control over their funds, bypassing custodians. All these take place within accessible, user-friendly interfaces akin to CEXs. The result is an advanced trading system that mitigates the traditional weaknesses of both CEXs and DEXs, positioning hybrid crypto exchanges as potential game-changers. 

A wake-up call for crypto

As the FTX trial continues to garner attention, it’s worth noting that industries commonly experience such upheavals. Wall Street itself has weathered scandals and challenges similar to those in the crypto space. Think of the Enron Scandal and Bernie Madoff Ponzi Scheme of the early2000s. 

Still, as crypto industry custodians, we must not dismiss this case as a mere glitch. Such scandals tarnish the industry’s reputation, setting us back each time. The crypto industry is still evolving and maturing over time, but there are increasingly better ways forward.

Read more: The fall of FTX: A tale of hubris in the crypto world | Opinion

Author: Hong Yea

Hong Yea is the founder of GRVT, a crypto exchange that offers self-custody. He was previously an executive director at Goldman Sachs and a banking associate at Credit Suisse for over nine years combined.

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

There are a lot of ideas about the use of blockchain technology in real estate. However, a frequently overlooked aspect is the land registry. The bold claim that real estate tokenization will disrupt the industry essentially boils down to securitization via security tokens. Although such ideas hold merit, I found them to be lacking in perspective and not as disruptive as proclaimed. 

You might also like: How lawyers overslept crypto revolution | Opinion

My PhD research was devoted to developing a next-generation land registry system. I introduced the concept of the “title token,” a new class of asset that, unlike security tokens, serves as an actual record of ownership. Blockchain technology, at its core, functions as a type of database. Therefore, instead of maintaining title records in a traditional land registry—whether on paper or electronically—blockchain can manage this more effectively, as I will explain further in this article.

Why not “permissioned”?

To address why the next-generation property registry system should utilize blockchain technology, it is essential to clarify some misconceptions about this technology and then highlight its transformative features.

Firstly, the category of distributed ledger technologies, broadly labeled as “permissioned” and “private” ledgers, does not align with the original definition of blockchains as per rigorous academic standards. More importantly, beyond this terminological distinction, permissioned ledgers cannot guarantee data immutability. And immutability is a critical game-changing feature of the blockchain.

Not every chain of blocks is the blockchain

The method of creating timestamped blocks of data interconnected by hashes was introduced by Haber and Stornetta in 1991. This method does not aim to protect the data but to verify its authenticity, and there is no evidence it was ever referred to as “blockchain.” This term appears to have first emerged among the developers of Bitcoin and its mastermind, Satoshi Nakamoto. Nakamoto’s paper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” proposed using Haber and Stornetta’s method as one of the components of his technology. By combining this with a decentralized consensus mechanism, he devised a method to operate it within a distributed network. This is what gained the term “blockchain.”

Today, with a variety of consensus mechanisms and approaches to distributed ledger creation, blockchain can be defined as a digital ledger with a native unit of account (cryptocurrency) and data storage capabilities. It operates in a distributed network with an open, competitive, decentralized consensus mechanism.

Permissioned cartel DLTs are not immutable

Permissioned distributed ledgers, including private ones as a subset, lack the feature of free open competition. In fact, they represent the opposite; these ledgers operate under the centralized authority of a controlling node or nodes. In collective governance scenarios (involving more than one node), they may employ a decentralized consensus mechanism to some extent, but this only applies within the closed group of member nodes. Effectively, they act as a centralized system for the outside world and resemble a cartel. Therefore, not every chain of blocks constitutes a blockchain, although every blockchain and distributed ledger utilizes the method of block chaining.

These terminological distinctions might seem pedantic and relevant only for theoretical discussions; however, they are crucial for understanding the broader implications. As permissioned ledgers lack the crucial feature of immutability, they cannot guarantee that data will not be altered. The controlling node or nodes, acting as a cartel, have all the privileges of a network administrator, controlling access and potentially altering data by rewriting or even deleting the chain if necessary. From this perspective, it does not fundamentally differ from any other centralized technology. The term “blockchain” is often misapplied to various ledger technologies, creating a false perception of exceptional data security.

The fundamental advantage of blockchain is its ability to ensure data immutability. Immutability means that no one, including those responsible for the registry, can alter past transactions and stored data for any reason. No other feature of the blockchain is decisive for upgrading land registry systems, as no other technology in the history of humankind could ensure this. For instance, Bitcoin has operated without compromises for over 15 years, a claim that no other public system can make. The frequent news of data breaches involving major companies underscores (Google, Facebook, Twitter, Amazon, Visa, Mastercard, you name it) the superior security of blockchain technology.

What does the land registry do?

So, why is it crucial to secure data in publicly accessible digital storage? Let’s first consider the primary function of a land authority. If Alice and Bob execute a title deed and one of them loses or tampers with her document, they might dispute the authenticity of their contract. They need a third party to independently store their document as the source of truth, which is the minimum role of the registry authority in any country. 

Before blockchain, to secure this function, the registry body had to physically maintain the relevant infrastructure, such as an archive building with racks and folders for the paper registry of the past or a data center operating a database with the respective software. Either technology was vulnerable, and data corruption or loss could be irreversible. Thus, it required highly limited access by those who could administer the system and make records. 

Registration meant restricting this function to authorized individuals like registrars or notaries. In contrast, blockchain allows registries to be maintained electronically without such vulnerabilities, enabling practically an unlimited number of users to make direct entries themselves on a blockchain-enabled registry without the threat of crashing the database. This applies only to blockchain, not to permissioned DLTs. The latter, being publicly exposed, would not be able to withstand severe denial-of-service attacks (DDoS) and the like; the loss of data is as much a threat as with other older technologies.

How will blockchain transform real estate transactions and registration?

The old system requires the separation of two acts: committing to a deal and then registering it. In the first act, the parties involved sign their agreement (the title deed). Then, in the second act, they bring it to the registrar to make an official record of their deed in the registry, which serves as the source of truth about who owns what.

In many countries, statute laws establish that the moment of title conveyance is considered to occur when the deed is registered by an official body. The parties are not allowed to make the record in the registry themselves, as explained above, because the centralized technology is simply fragile enough to let that happen. Blockchain represents a game changer because, for the first time in history, it can serve as an impartial source of truth without the oversight of the registry authority. This means that the two separate acts—agreement and registration—can merge into a single blockchain transaction. A transaction executed within the algorithms of a smart contract, once published on the blockchain, serves as a definitive registry record.

Maintaining infrastructure is not the only function of the land authority. Registration in many countries involves more than just recording whatever the parties bring to the land office. It requires verification of the deal, and in some countries, the deal must be examined by a notary. To achieve independence from third parties would mean automating all these functions. Only then can we fully unlock the advantages of programmable relations through smart contracts that enable DAOs, defi, and other facets of the Digital Economy.

The bad news for those who believe in total disintermediation is that we will still need the registrar. It appears there are plenty of situations where a third authoritative party is necessary, such as to resolve disputes (hence, the registrar might need to execute a court ruling), in cases of inheritance, or loss of private keys (crypto wallet), when the owner or successor cannot gain access. The land registry application, which I refer to as Blockchain Estate Registry, needs to be designed in a way that provides administrative access to ensure the rule of law. Yet, I estimate that nine out of ten real estate transactions will not require any direct participation from the land authority, as registration will become a seamless and automatic procedure.

Summary

In summary, traditional land systems cannot fully embrace the innovative potential of the emerging digital economy, with its DAOs, dApps, defi, and so forth, as they are vulnerable and dependent on the supervision of land authorities and other intermediaries, which become bottlenecks for progress. Blockchain technology addresses this by securing data in a decentralized, open public infrastructure, mitigating the risk of irreversible loss in property registries, and paving the way for automating intermediary functions.

The concept of the Blockchain Estate Registry illustrates this shift, proposing a system where most transactions can be automatically verified and registered without human intervention. It is important to note, however, that blockchain does not inherently guarantee immutability; this is contingent upon the network’s scale. Smaller networks may be susceptible to certain types of attacks, whereas larger, more established networks are typically more resilient. Therefore, for public registries, the choice of blockchain should favor those with a longstanding history and substantial community. 

Nevertheless, I advocate for the adoption of a multi-chain system through a cross-blockchain protocol. This approach addresses common concerns related to blockchain technology, such as bandwidth, scalability, transaction speed, and cost, making it a viable solution for public property registries. This topic merits further discussion.

Read more: The crypto industry will only benefit from regulation | Opinion

Author: Oleksii Konashevych

Oleksii Konashevych holds a Ph.D. in Law, Science, & Technology and has been an academic researcher in blockchain technology since 2016. His Ph.D. thesis focused on the tokenization of real estate on the blockchain. In 2021, he was invited to speak at the Australian Senate. The conclusions of his research about a new generation property registry using blockchain were adopted as recommendations by the Senate ‘Fintech’ Select Committee and were presented to the National Cabinet to instigate a blockchain pilot project with the land registry. He is also the author of the YouTube channel “Blockchain State.”

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Check out the analyst’s prediction on XRP as Solana begins to fall and KangaMoon continuously rises.

After a momentous early 2024, where Solana crossed the $200 threshold, the bear effect has finally caught up with the token, taking it down considerably. In the meantime, top crypto analyst Egrag Crypto believes XRP’s next rally could be between 1000% and 3000%.

KangaMoon is also in the top tokens category after raising $5M in the ongoing presale. With its innovative approach, the KANG token is currently one of the best meme coins to buy now.

KangaMoon presale reaches $5m despite market correction.

With Solana and XRP battling the bear trend, KangaMoon is holding out as one of the top meme coins in the market, showcasing an incredible price surge. In what started at a presale price of $0.005, KangaMoon has jumped to $0.0196 within a few weeks, giving early adopters a 290% return on their investment.

Notably, investors are moving en masse to this project, witnessing its historic features of the GameFI and SocialFi meme coin combination. Not only that, investors are showing interest in KangaMoon because of its reward mechanisms. As one of the top meme coins around, Holders of the KANG native token, which is at the 5th stage of the presale, can earn additional tokens through simple social tasks. 

You might also like: Crypto coins to consider ahead of Bitcoin halving: TRX, SOL, KangaMoon

Also, gamers who showcase their skills and win the various weekly, monthly, and quarterly gaming challenges will be rewarded with huge prizes and giveaways. The platform gives spectators a way of earning through betting and predictions. The platform subscribers are currently above 20k, with holders nearing 7k, further strengthening the image of the project.

For interested investors, there is a 10% bonus available when they purchase at this price. Before the end of April, KangaMoon is targeting $7M in presale, which means there is a high scramble to purchase the token. With these exciting opportunities for investors, KangaMoon is one of the best meme coins to buy now for huge profits in the year.

You might also like: Leading analyst favors XRP as KangaMoon dominates the market and SOL drops

Egrag Crypto backs XRP to surge by 1000%-3000%

If the prediction of Egrag Crypto is anything to go by, XRP holders may be set for a massive profit in 2024. In its X post, the crypto analyst remains bullish on the XRP token, providing a cause for optimism in light of the recent price slump. 

Furthermore, Egrag advised investors to hold on to XRP as the buyers begin to rally again for the token. He offers that the buyer’s activities could result in a minimum of 100% increase and, in the best case, a 3000% increase for patient holders at the bull run.

Solana down after a meteoric early 2024

After its massive jump in early 2024 to $200, the prevailing bearish sentiment has caught up with Solana, with the token losing by 16% and 20%, respectively, across the weekly and monthly charts. However, analysts remain unshaken in their belief in the token’s future progression.

Although the Solana price may be currently at a descending level, its status as the 5th largest crypto based on the market cap is a key figure that is swaying investors. On the flip side, this dip provides an opportunity for interested buyers to jump in before it pumps again.

To learn more about this project, visit the KangaMoon presale website or join the community.

You might also like: Dogwifhat shocks holders by crashing 60%; KangaMoon nears $5m in presale attracting whales

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Bonk and Shiba Inu’s recent price action has reignited investors’ confidence in these top crypto coins and revived the meme narrative. Given the improvement in asset prices, Borroe Finance (ROE)  branches off tendencies to print impressive returns.

Let’s determine why investors are confident in these NFT memes.

Revolt app listing Bonk will avail the token to EU users

Revolt App, a cryptocurrency exchange based in Europe, is expanding its digital asset offering with the inclusion of BONK to its crypto roster on April 23. Hence, users in this region can now trade BONK directly on the platform. The addition of BONK to the Revolt App makes it a total of 150 digital assets that are tradable on the exchange.

You might also like: Excitement builds for Ripple’s stablecoin, LTC gain, and Borroe Finance

Revolt App made this strategic move to cater to the ever-growing needs of its user base to interact with different classes of digital assets. This decision will improve users’ overall trading experience and widen their token collection. BONK recorded a significant rally following the announcement, breaking a record price level.

Between April 18 and 22, BONK boosted its market value by 77.8%, rising from $0.00001393 to $0.00002477. Market players grew more optimistic about BONK after its European addendum. They expect the BONK to soar 21.1% to $0.00003000.

You might also like: SOL, DOGE show modest gains as Borroe Finance steals the spotlight

Whale acquires 237 billion Shiba Inu as price jumps

Etherscan.io, a blockchain activity tracker, has spotlighted a whale that acquired 237 billion Shiba Inu tokens on April 22 amid the coin’s rally. The tokens were worth $6.3 million at the time of purchase. The on-chain tracking platform estimated the whale’s net worth at $11.2 million in Ethereum, Shiba Inu, and FTT.

This massive buy-in coincides with an ongoing Shiba Inu market recovery campaign. Per market data, Shiba Inu has increased 23% in the last seven days, leading to the accumulation. This behavior suggests that the investor may be bullish on Shiba Inu, as evidenced by its previous price actions.

The chart shows that Shiba Inu gained 21.6% in market value after soaring from $0.00002205 to $0.00002682 between April 18 and 22. Experts predict that Shiba Inu will continue higher, reaching $0.00003000 in the coming days. This forecast translates to an 11.8% increase in SHIB’s value.

Borroe Finance could see gains

Borroe Finance (ROE) is reportedly bracing to remit considerable gains to investors amid the ongoing market-wide uptick. Having made an impressive move in the last five stages of its presale, Borroe Finance (ROE) holders now anticipate another price surge before its DEX debut. Experts consider ROE’s presale phase the best period to purchase the new ICO coin for juicy gains.

Borroe Finance was developed as a solution to the funding needs of Web3 participants. It uses blockchain and AI to power its funding marketplace for Web3 users to trade future recurring revenues for instant cash payment. Also, Borroe Finance (ROE) tackles traditional finance problems head-on, replacing the system with a decentralized setting that levels up with financial evolution.

Based on the information on its official website, Borroe Finance (ROE) has raised over $3.9 million in presale funding. In parallel, the price jumped 100% from $0.01 to $0.02, doubling investors’ funds. ROE now targets $0.025, a 25% leap from its current price, making it a good crypto to buy.

To learn more about this project, visit the Borroe Finance (ROE) presale website or join the community via Telegram | Twitter

You might also like: As Shiba Inu and Avalanche falter, investors turn to Borroe Finance

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

While some are in the crypto space for the tech, others are for the gains. There is something for everyone, of course. 

If you tilt more towards the latter than the former, the top three altcoins to invest in for early retirement are none other than Bonk, XRP and InQubeta.

These cryptocurrencies are must-haves, buzzing with potential. With the bull market shifting gears and prices set to fly post-Bitcoin halving, these are the best cryptos to buy now for life-changing gains.

InQubeta (QUBE): Staggering upside potential

InQubeta is the best new crypto to invest in for good reasons. After going live on Uniswap and MEXC on the back of an impressive presale, raising a total of $13.6 million in early funding, its price discovery journey commences.

You might also like: XRP faces uncertain future as whales shift focus to Celestia and InQubeta

With interest on the rise, it is an altcoin with unparalleled potential. Experts predict an explosive surge in the coming months, tipping it for a substantial 70x upswing before the end of the year.

Its jump will be primarily fueled by the critical problems it intends to address. Of equal importance, as a blend of AI and crypto—the most bullish narrative—it will ride the AI frenzy, setting it on an adoption path.

By building the first-ever crypto-based crowdfunding platform for AI tech startups it will solve the most pressing challenge within the AI space: fundraising. Going one step further, its custom-built NFT marketplace will democratize access to the AI market, allowing investors to own stakes in AI ventures regardless of their income.

Bonk: The most bullish meme coin?

Bonk, one of the leading memecoins on Solana, is among the best cryptos to invest in. As the first dog-themed cryptocurrency within the Solana ecosystem, its potential is unmatched, and it is set for bullish price actions this year.

Analysts anticipate an explosive surge before the end of the year—one of the best coins to invest in. Besides its memetic appeal as a dog-themed cryptocurrency, investors are attracted to its promise of staggering gains and generational wealth.

Its low entry point makes it even more appealing—a budget-friendly coin and a retail favourite. Without having to break the bank, investors can position themselves for life-changing gains by investing in Bonk. To avoid missing out now is as good a time as any to add BONK to your portfolio.

You might also like: ETH and BONK investors eye InQubeta after debut on Uniswap, MEXC

XRP (XRP): Preparing to explode

XRP is among the best altcoins to invest in despite regulatory uncertainty. The legal tussle with the US SEC continues, although the end is near—if the regulator’s $2 billion penalty demand counts. While it grapples with regulatory challenges, its outlook this year remains positive.

It is expected to skyrocket past $20 in 2024, positioning it as a top crypto to invest in, perhaps ahead of new coins like Starknet, Wormhole and DYM. At its current price, XRP is a steal—a good entry point. One of the most compelling ways to position for massive gains in the crypto space is to ride its huge bullish wave.

It is also worth mentioning that its growing adoption and rising institutional appetite will contribute to its upswing. To ride XRP’s next jump, we recommend adding it to your portfolio now.

Conclusion

The top altcoins to invest in for significant gains and early retirement this year are none other than XRP, Bonk and InQubeta. 

These cryptocurrencies are arguably the most promising and also boast low entry points. As they prepare to skyrocket, we suggest not missing out on their runs.

To learn more about this project, visit the InQubeta presale website.

You might also like: BTC falls; Dogwifhat fears losing $2 support; InQubeta becomes top pick

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Phoenix Wallet, a Bitcoin (BTC) wallet designed for Lightning payments, has announced that it will stop serving U.S. residents on May 3. 

ACINQ, the company behind Phoenix Wallet, plans to remove the app from U.S. app stores, meaning users in the U.S. will no longer be able to access it from the said date. 

On May 3rd, 2024, @PhoenixWallet will be removed from US app stores.Users from the US should empty their wallet:– Settings > Close channels (Android)– Settings > Drain wallet (iOS)We highly recommend *not force-closing* channels, as on-chain fees could be significant.

— Phoenix Wallet (@PhoenixWallet) April 26, 2024

The company has advised its U.S. customers to withdraw their funds without delay. However, it cautioned against force-closing the wallets, as that could lead to higher on-chain fees. 

Instead, the company urged its American iOS users to go to the wallet’s settings page and hit “drain wallet,” Android users are advised to also go to the settings section and hit the “close channels” command to safely empty their wallets.

The official reason for pulling the wallet from U.S. app stores hasn’t been given. However, ACINQ hinted in a tweet that recent U.S. government statements raise doubts about whether self-custodial wallets, Lightning service providers, or even Lightning nodes might be considered Money Services Businesses and face regulation.

Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such.

— ACINQ (@acinq_co) April 26, 2024

The company’s decision comes on the heels of legal action against the creators of Samourai, a Bitcoin mixing wallet. 

Read more: US senators cracking down on crypto use in child abuse trade

On April 24, federal prosecutors in the Southern District of New York announced that they had indicted Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill, accusing them of aiding illegal transactions through Samourai. Per the indictment, Rodriguez faces up to 20 years in prison, while Hill could face up to five years if convicted.

The U.S. Department of Justice alleges that Samourai’s creators allowed over $2 billion in unlawful transactions through the platform, collecting more than $4.5 million in fees since 2015. It also claims that Samourai was marketed as a tool for censorship resistance and facilitating illicit activities.

The arrest of Rodriguez was accompanied by a warning from the FBI to users about ‘operations’ on unregistered crypto firms believed to be money services businesses. This crackdown follows a pattern of U.S. authorities targeting wallets and mixers involved in what they deem to be questionable activities.

The indictments have provoked an outcry from the crypto community, with CryptoQuant CEO Ki Young Ju coming to the defense of Rodriguez and Hill, arguing that privacy protection is a fundamental aspect of Bitcoin. 

Ju compared the situation to punishing the inventor of a knife instead of the one who misuses it, emphasizing that the intent behind using a tool determines its legality.

Read more: British law agency gains enhanced crypto seizure powers

Asset management firm Franklin Templeton has launched its Ethereum exchange-traded fund (ETF), dubbed the “Franklin Ethereum TR Ethereum ETF,” with the ticker code EZET.

The spot Ethereum ETF has been listed on the Depository Trust and Clearing Corporation website, a significant platform for securities transactions in the United States.

The listing on the DTCC’s “Create/Redeem” column indicates that the ETF is now available for creation and redemption, signaling a significant step in its operational rollout.

Franklin Templeton’s Ethereum spot ETF is now listed on DTCC | Source: DTCC

The listing does not imply approval from the U.S. Securities and Exchange Commission (SEC), which is still pending.

Listing on the DTCC website signifies that the ETF has completed certain registration or compliance processes, making it eligible for trading and settlement within the DTCC’s systems.

The final approval, however, hinges on the SEC’s assessment against various regulatory standards.

You might also like: Hong Kong to reportedly approve first Bitcoin, Ethereum ETFs

Franklin Templeton filed a Form S-1 with the SEC in February, seeking to launch a spot Ether (ETH) ETF. If approved, it would be traded as “Franklin Ethereum ETF” on the Chicago Board Options Exchange.

However, in a recent update this April, the SEC announced a delay in its decision on the application, extending the review period by an additional 45 days to June 11.

Industry heavyweights, including BlackRock, Grayscale, VanEck, and ARK Invest, are also contenders in the race to secure approval for their own spot in Ether ETFs.

However, the prospects for these Ethereum-based ETFs gaining approval from the SEC appear to be different from those for spot Bitcoin ETFs, which received the green light in January.

In March, Bloomberg ETF analyst Eric Balchunas assessed the likelihood of a spot Ether ETF being approved in May at about 35%. He pointed out the SEC’s less proactive approach compared to the Bitcoin ETF applications.

Balchunas also mentioned that the SEC Chair Gary Gensler’s views on Ether and his reluctance to define it explicitly as a security could influence the final outcome.

Read more: SEC seeks comments on three spot Ethereum ETF filings, analysts not bullish

Digital assets continue to struggle as the crypto market cap dips 1.28%. It currently hovers at around $2.45 trillion — a 94.5% change one year ago.

In what could be a knock-on effect from the traditional market, which saw the Japanese yen tumble to a 34-year low against the U.S. dollar, leading cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE) all saw their prices drop in the last 24 hours. 

Bitcoin

Per data from CoinMarketCap, Bitcoin is currently priced at $63,284, which is a 2.32% drop from 24 hours ago.

In that period, the number one crypto recorded a trading volume of $22.89 billion, which was the second-highest amount in the last 24 hours.

BTC 24-hr price chart | Source: CoinMarketCap

While Bitcoin’s price is still more than 118% higher than it was at the same point a year ago, it is in the red over several other time frames.

For instance, the current price signifies a 10% dip over 30 days, a 6.7% drop across a fortnight, and a more modest 1.3% loss in the last seven days.

Solana 

On its part, Solana — fifth on the list of the biggest cryptocurrencies by market cap — saw its price go down by more than 4% in 24 hours.

Currently, the coin is changing hands at $137.21 and has a 24-hour trading volume just north of $2.4 billion.

SOL 24-hr price chart | Source: CoinMarketCap

SOL has not fared any better over different time frames either.

The current price represents a 25.6% drop from where it was 30 days ago, per data from CoinGecko.

It also marks a nearly 8% dip across 14 days, as well as a 2.6% loss over 7 days.

You might also like: Altcoin season approaching? Insights from experts amid Bitcoin’s halving aftermath

Ethereum

Ethereum seems to have bucked the general negative trend, albeit rather modestly. At the time of writing, it was trading at about $3,137, which is a 0.23% uptick over the last day.

The slight bump was accompanied by a 24-hour trading volume of $10.26 billion, making ETH the third most traded cryptocurrency after Tether and Bitcoin.

ETH 24-hr price chart | Source: CoinMarketCap

Ethereum’s gains over seven days are more significant, with the current price being a 4% improvement on where it was a week ago.

However, the bearish sentiment that seems to have washed over the crypto market in the last month has not spared ETH either. It has lost more than 12% of its value in that time.

Dogecoin

Dogecoin — the largest meme token — also shed some of its value in the last 24 hours.

The dog-themed coin shed nearly 3% of its price in that time. Trading at about $0.1451, Dogecoin’s value is also more than 30% lower than its level from a month ago.

DOGE 24-hr price chart | Source: CoinMarketCap

Its performance is reflected among other meme coins, including Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB), which are all currently in the red, with losses ranging between 2.82% and 7.87%. 

Read more: Binance burns over $1.17b in BNB tokens

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Dogwifhat’s unexpected 60% crash surprises holders, while KangaMoon’s presale nears $5 million, attracting significant attention from investors and whales alike. 

Recently, the new Solana meme coin, Dogwifhat, suffered an approximately 60% crash from its historic high price. 

Yet, the token still maintains a spot among the top three largest meme coins by market cap. Trying to keep up with its over 1500% yearly rise, the WIF token appears to be on the verge of a possible rebound with a recent 22% sharp increase. 

On the other hand, KangaMoon (KANG) has continued to draw significant whale attention with new presale milestones. Coveted to raise over $6M before the end of April, KangaMoon is set to lead the meme coin market.  

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Dogwifhat (WIF) dropped by 60% but is already pacing up again

The rise of dog-themed cryptocurrencies in the meme coin market demonstrates how trends on the internet can affect the world of finance. One notable example is Dogwifhat, a digital token that has caught the attention of many traders and investors due to its unique theme. On Thursday, Coinbase global exchange revealed in a post on X social media that they are adding perpetual futures linked to Dogwifhat— this signals another catalyst that will bring more attention to $WIF . 

On the 31st of March, the price of WIF reached an ATH of $4.83. However, it began a decline that lasted till April as it went as low as $2.13. This drop was an approximately 60% decrease in valuation due to volatility. However, WIF was still gaining as much trading activity. In the past week, the Dogwifhat token has been priced between $2.14 and $3.43.

Dogwifhat is also currently among the top three largest meme coins by market cap. Still gaining in the past month with a 20.10% rise, Dogwifhat is trying to navigate through its 21% weekly decline as the token maintains an increased rate of trading activity. Dogwifhat token is ultimately a strong contender for riding the bullish wave this year.

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KangaMoon: The new meme coin gem 

Investors have recently taken notice of KangaMoon due to its distinctive features and appealing sub-$1 pricing. The project, currently in its fifth presale stage, has achieved significant milestones that have garnered attention from potential investors and the wider crypto community. 

In its 5th stage presale, KangaMoon has raised up to $5 million in presale funding, with expectations to surpass $6 million by month-end. Consequently, KangaMoon has risen in prominence among top meme coins to buy in 2024, with its token value appreciating from an initial $0.005 to $0.0196, delivering impressive returns of up to 290% for early adopters.

Beyond financial incentives, KangaMoon is constructing a community-driven ecosystem called “Kangaverse.” By integrating elements of Social-Fi and GameFi’s Play-to-Earn (P2E) mechanics, KangaMoon aims to engage users in activities like battle-themed contests and speculative betting. Participants can also create and trade custom in-game characters on a dedicated marketplace alongside the KANG token and other valuable in-game collectibles.

Industry experts and investors eyeing top meme coins in 2024 are optimistic about KangaMoon’s future potential, anticipating a substantial price surge of up to a 1000% increase after it launches. This anticipated growth is expected to attract further interest, particularly upon listing on reputable exchanges and decentralized platforms. 

To learn more about this project, visit the KangaMoon presale website or join the community.  

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Financial services firm Depository Trust and Clearing Corporation (DTCC) has announced it will not allocate any collateral or offer loans for ETFs with exposure to Bitcoin or other cryptocurrencies.

As of April 30, during its annual line-of-credit facility renewal, the DTCC will adjust the collateral values for specific securities, potentially impacting their position values in the collateral monitor.

The statement released on April 26 specified that ETFs and similar investment vehicles with Bitcoin or other cryptocurrencies as underlying assets would see their collateral value reduced to zero.

However, crypto enthusiast K.O. Kryptowaluty, in a post on X, noted that the change pertains only to inter-entity settlements within the line of credit system.

The DTC system, or Depository Trust Company, is a key component of the financial infrastructure of the United States, acting as the central securities depository. DTC is part of a larger organization called the Depository Trust & Clearing Corporation (DTCC) what you write…

— K.O Kryptowaluty (@KO_Kryptowaluty) April 27, 2024

A line of credit is a loan agreement between a financial institution and an individual or company that allows the borrower to withdraw funds up to a predetermined credit limit.

The borrower can use these funds as needed and normally pays interest only on the amount borrowed. 

According to Kryptowaluty, the use of cryptocurrency ETFs for lending and as collateral in brokerage activities would likely continue unaffected, dependent on the risk tolerance of individual brokers.

While the DTCC has expressed opposition to cryptocurrency ETFs, other established players have not. Goldman Sachs clients have begun to re-enter the cryptocurrency market in 2024, fueled by fresh enthusiasm following the launch of spot Bitcoin ETFs. 

Since their introduction, these ETFs have attracted substantial institutional interest, amassing over $12.5 billion in assets under management within three months.

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In February, the ten Bitcoin ETFs approved in the U.S. on Jan. 11 accounted for an estimated 75% of new Bitcoin investments. 

Despite this surge, recent weeks have seen a decline in inflows. Farside Investors reported a net outflow of $218 million from spot Bitcoin ETFs on April 25, following a $120 million outflow the previous day.

Meanwhile, on April 25, the U.S. Securities and Exchange Commission (SEC) once again delayed its decision on applications for spot Bitcoin ETF options. The regulatory body is extending the deadline and calling for public comments within the next 21 days and rebuttals in 35 days.

The agency has questioned whether options on spot Bitcoin ETFs should follow the same rules as stocks.

Several exchanges, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC, and NYSE American LLC, have applied to offer options trading on these ETFs.

In addition, the SEC has deferred decisions on Grayscale and Bitwise’s applications to introduce Bitcoin options ETFs, setting the next review date for May 29.

Read more: Spot Ethereum ETFs reportedly facing potential SEC denial