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.

You might also like: Custodia Bank claps back against court ruling, wants Fed master account

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. 

You might also like: Wasabi Wallet developer zkSNACKs blocks access for US users

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.

You might also like: Hong Kong’s custodian Hex Trust seeks new funding amid rising appetite for crypto

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.  

You might also like: Altcoin Sherpa remains bullish for BTC, while Dogwifhat, KangaMoon surge

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.

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

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.  

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

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.

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.

You might also like: BNY Mellon invests in Bitcoin ETFs as institutional interest grows

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

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

With a luminary investor’s tweet predicting a 2024 bull run, Koala Coin (KLC) is generating buzz in the crypto world. 

In its presale stage, priced attractively at $0.014, Koala Coin is turning heads and is poised for remarkable growth. Its community-first approach propels it ahead, outshining even stalwarts like Cardano (ADA) and leaving others like Flow (FLOW) behind. 

You might also like: Koala Coin rises alongside Bitcoin Cash and Injective Protocol

The enigmatic appeal of Koala Coin

Koala Coin isn’t just another cryptocurrency. It’s a fusion of fun, finance and fraternity, all built on a stable and inviting blockchain foundation. This digital sensation comes with the promise of governance rights, staking rewards and an arsenal of memes that bring not just a financial incentive but a wealth of happiness, setting the stage for a financial escapade unlike any other.

In a sea of digital tokens, Koala Coin forges its path with a mission centered around joy and collective progress. It moves beyond mere transactions to weave narratives of joy, belonging and shared success.

Carving a niche: Cardano’s role in the crypto ecosystem

Cardano is celebrated for its groundbreaking proof-of-stake (PoS) protocol, which was built with an eye on scalability, interoperability, and sustainability of the blockchain. It’s more than a digital currency. It’s a technological scaffolding capable of supporting the financial apps, smart contracts and decentralized apps we use every day around the world.

Yet the recent journey of Cardano has been a rollercoaster, with its value at $0.59 showing a modest rise of 1.95% this week against a monthly slide of -21.79%. This fluctuation places it in stark contrast to the ascending trajectory and allure of newer entrants like Koala Coin, putting Cardano at a crossroads of challenge and opportunity in the vibrant crypto market.

Flow: A conduit between the tangible and digital realms

Flow presents itself as a nimble, decentralized blockchain tailored for the next wave of games, applications and the digital assets that fuel them. Flow (FLOW) is crafted to be scalable and developer-friendly, clearing the path for user-centric dApps and digital collectibles.

Yet the market posture of Flow seems hesitant, with its price at $1.20, marking a -1.23% dip over the past week and a more pronounced -26.61% over the last month. 

This tepid movement casts Flow into a lull, especially when juxtaposed with the vibrant growth and community enthusiasm for Koala Coin and the strides made by Toncoin among the traditional crypto behemoths like Cardano.

You might also like: Koala Coin stands resolute as Aptos falters and Injective climbs

A fresh horizon with Koala Coin

In the ever-mutable universe of digital currency, Koala Coin emerges as a lighthouse of potential, offering not just a token but an invitation to a community, a narrative and a journey ladened with delight. 

As the likes of Cardano and Flow weather their seas of change, Koala Coin stands out with its unique charm and the vibrant promise of a shared adventure. 

This is an opportunity to be part of something unique, a convergence of memes and money in a symphony of joy.

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

You might also like: Koala Coin outshines BCH and ALGO amid market downturns

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.

Ethereum and Solana’s investors are latching onto the Pushd presale in droves as it aims to disrupt e-commerce. The presale is now in stage 6. 

The U.S. SEC has yet again shown a lack of enthusiasm for the approval of Grayscale’s petition for an Ethereum ETF. 

On the other hand, Solana faces rejection at critical resistance levels after experiencing a significant decline prior to Bitcoin’s halving. Meanwhile, both Ethereum and Solana back Pushd’s bold move to disrupt e-commerce in stage 6 of its presale.

To make online retail much more convenient for users, Pushd utilizes blockchain technology to solve the common problems faced by traditional e-commerce platforms. Notably, a lot of crypto enthusiasts are making moves to secure their slots in the Pushd presale even as they anticipate substantial returns in the coming months.

You might also like: Global investors choose Pushd presale despite Fetch.Ai surge

Spot Ethereum ETF proposal sees further delay

The Securities and Exchange Commission of the United States has deferred deciding on Grayscale’s petition for an Ethereum ETF. The review time was extended by the SEC to June 23. Grayscale approved the conversion of its current Ethereum Trust into a spot Ethereum ETF in October by submitting Form 19b-4 to NYSE Arca. Grayscale changed its Bitcoin Trust into a spot Bitcoin ETF in January.

The SEC’s decision to postpone is also supported by the issues and modifications being thought through concerning the plan. The SEC has also delayed similar applications from other asset managers. In response to the SEC’s most recent move, Grayscale has improved its application yet again. In compliance with the U.S. Securities Act, the company filed Form S-3 to continue its operations in relation to the Ethereum ETF offering.

You might also like: Pushd draws interest from Ripple and Monero holders

Solana price analysis

After rising more than tenfold from $17 in September 2023 to $210 in March 2024, Solana touched $116.0 last week and encountered selling pressure at $210. Solana recovered after Bitcoin’s halving and tested the resistance at EMA21. The altcoin recently opened trading above the EMA21 but was unable to sustain above the $160 barrier; as a result, it is currently trading at $158.

According to daily chart analysis, Solana needs daily closures over $157 to start climbing higher. Solana’s first target price zones are $164.50 and $174.31, assuming daily closures above $157. Daily closings below the $151.24 EMA5 support level, nevertheless, can re-increase selling pressure. If selling pressure picks up again, $140.82 and the EMA100 at $139.31 are the first support levels.

Investors back Pushd’s bold move to disrupt e-commerce 

Pushd has the potential to completely transform the online marketplace by solving the common problems that shoppers and sellers on sites like Amazon and eBay encounter. Additionally, sellers may have delays in obtaining funds because PayPal holds payments for up to 90 days following a transaction, and buyers are subject to stringent KYC procedures. Users may instantaneously buy, sell, and auction items without going through KYC checks.

Pushd offers significantly cheaper fees than traditional marketplaces, and its instantaneous deposits and withdrawals eliminate the need to wait several days for payments. 

In addition to the possibility of making substantial profits, presale investors receive a revenue share of platform fees based on the number of tokens they own. With a price of $0.144 per token and being at Stage 6 of their presale, Pushd tokens present a strong investment opportunity.

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

Read more: Pushd Stage 6 presale attracts Ethereum and Bitcoin holders

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.

Movement Labs, a San Francisco-based blockchain developer, raised $38 million in a Series A funding round led by Polychain Capital. 

The funding is expected to support its mission to integrate Facebook’s Move Virtual Machine into Ethereum (ETH). This would address vulnerabilities in smart contracts and improve transaction speed, the company stated.

The funding round attracted investments from well-known venture capital firms like Hack VC, Placeholder, Figment Capital, Bankless Ventures, OKX Ventures, and Aptos Labs, among others.

According to Movement Labs, between 2022 and 2023, the Ethereum ecosystem experienced losses totaling more than $5.4 billion due to smart contract exploits.

The startup’s Move-EVM product is designed to prevent such attacks by allowing developers to deploy code that undergoes real-time verification, effectively blocking attack vectors like reentrancy. 

Move is a Rust-based programming language developed by Facebook for its Diem blockchain crypto payment project, which was discontinued in 2022.

It was designed to work on any platform and provides a framework for writing secure smart contracts used in cryptocurrencies, non-fungible tokens (NFTs), and decentralized applications (apps).

You might also like: BNY Mellon invests in Bitcoin ETFs as institutional interest grows

Movement Labs’ Busy Year

Movement Labs has been promoting the adoption of Move since securing a $3.4 million pre-seed round in September 2023.

Key contributors to the fund included Varys Capital, the Avalanche Fund by Blizzard, dao5, Borderless Capital, and others within the Wormhole developer ecosystem.

Angel investors who participated include Chandler Song, Ryan Fang, and Stanley Wu from Ankr, as well as George Lampeth from dao5, and Calvin Liu from Eigenlayer.

The money from the pre-seed round was also meant to introduce the Movement SDK, a tool aimed at making it easier to create secure and high-performing Move environments for established blockchains.

Additionally, earlier this year, Movement Labs partnered with Covalent (CQT), a multichain indexer with integration across 225 chains, to bring real-time data indexing and deployment tools, including Covalent’s Unified API and GoldRush Kit, into the Movement ecosystem. 

Covalent’s Unified API offers seamless access to real-time and historical blockchain data, making it a vital tool for AI in web3. The GoldRush Kit enhances the user experience by providing a user-friendly interface for accessing and visualizing historical blockchain data within the Movement Labs ecosystem.

Read more: Yuga Labs CEO announces layoffs, focusing on ‘getting back to roots’

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

If there’s one thing to count on in the blockchain world, it is the support that is never something to count on.

You might also like: What does crypto’s growth mean for the future of DAOs? | Opinion

While it may seem like we’re entering a bull market filled with substantial institutional investment thanks to ETFs and real-world asset (RWA) tokenization, any blockchain veteran would be correct in feeling a tinge of anxiety. After all, it’s easy to remember the corporate exodus from crypto and blockchain as a whole during the last bear market.

That trepidation also extends to corporate equity and venture capital, which saw cash flow grind to a halt as VCs reined in their big-ticket blockchain investments. There has been some slight turnaround recently as institutional investors seem more committed. However, the feeling of the bottom falling out at any moment still lingers.

Looking inward

While external investment in the blockchain ecosystem may seem precarious, it’s not the only avenue for worthwhile projects to find backing and support for their development. In fact, the blockchain industry has a long history of internal support to help give talented developers and innovative projects a platform.

Most often, we can see this kind of internal support happen through smaller investments, grant programs, or big names in crypto acting as catalyst investors in projects building on their network. In some cases, a simple retweet can make a difference in a project’s progress.

Internal investment—whether through capital injections or non-monetary support like accelerator programs or mentorship schemes—succeeds in the blockchain space due to the industry’s inherent community aspect. When slogans like “we’re all gonna make it” and open-source development are ingrained in blockchain and web3 culture, it translates into material support that’s less common in traditional industries.

Likewise, emphasizing internal growth opportunities untethers blockchain development and progress from external capital and interest fluctuations. If progress can happen independently from whether or not VCs are feeling bearish on crypto, it demonstrates how resilient the industry can be when operating on its own terms.

Aside from accelerators in investments, however, you also have larger projects conducting grassroots work to build cooperation, knowledge, and cross-sector collaboration throughout the blockchain ecosystem.

For instance, The Coreum Development Fund recently bulked up its workshop program across universities in North America to encourage students across any discipline to learn about blockchain technology and foster a collaborative atmosphere. This initiative also coincides with the enterprise-focused Layer-1 closing the third edition of its grant program for projects building new solutions and tools on its Coreum blockchain network.

Through its grant program, which includes eight projects spanning a diverse range of sectors and applications using Coreum as a basis, and its higher education initiatives to build bridges between faculties—the network is just one example of how industry power players can foster collaboration and early-stage support for other projects.

If successful blockchain networks continue embodying this mentality towards knowledge-sharing, incubation, and development—there is a well of untapped potential for innovative projects.

It also shows developers that there are alternative pathways to shore up support that don’t rely on external benefactors to keep the industry moving forward. So, although robust institutional interest in blockchain is undoubtedly encouraging, projects should know that it’s not their only opportunity to grow.

Read more: Institutions have forced crypto to grow up, and that’s a good thing | Opinion

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

Crypto startups secured over $90 billion in funding by February 2024, with over 230 deals and almost $1.3 billion in the year’s start. Venture capitalists mainly funded decentralized finance, infrastructure, blockchain gaming, NFT, and web3 projects.

You might also like: A loyal community has brought web3 together, but now it is killing it | Opinion

However, only a tiny part of the funding was allocated to crypto financial services in 2024. It contrasts greatly with previous years, particularly in 2021’s bull market, when this sector accounted for a substantial portion of VC’s investments.

Despite this recent trend, I believe investors shouldn’t overlook the cryptocurrency financial services landscape. On the contrary, it is a market they should pay closer attention to, especially since it is positioned well to become one of the most attractive sectors for crypto VC investments in the coming years.

Why crypto financial services deserve so much more

The crypto financial services sector’s relative lag in funding this year can be attributed to several factors, drawing insights from the broader financial and technological landscape. Firstly, crypto financial services involve a lot of rules and regulations, which can be tricky to navigate. This area is closely watched by governments and agencies, making it a bit of a high-wire act compared to more free-wheeling sectors like blockchain gaming or NFTs. The uncertainty about what new rules might come into play can make investors nervous.

Then, there’s the allure of the new and shiny. Projects that let people trade digital art or play blockchain-based games are easy to get excited about. They are cool, they are in the headlines, and they promise a whole new world of digital ownership and fun. Compared to these, the financial services sector might seem a bit old-fashioned.

But here is the thing: crypto financial services play a crucial role in the digital asset industry. In fact, they are the backbone that supports everything else in the cryptocurrency world. Without them, it would be hard to buy, sell, or do anything with cryptocurrencies safely and securely. This sector is all about making sure people can use their coins without a hitch, offering essential services like paying with digital assets, keeping them safe, and even helping businesses use crypto.

Investing in this sector might not seem as glamorous as buying the next hot NFT, but it holds tremendous potential. As crypto becomes integrated into daily finance, its supporting services will be in higher demand. Despite its current funding state, it’s a long-term play.

Focus, don’t overlook it

Investors and VCs should monitor the crypto financial services sector for several good reasons. First, as I mentioned earlier, it is the backbone of the digital asset world, including critical solutions like exchanges, payment products, and cryptocurrency management. As the crypto market grows, these services become more important, offering investors a solid opportunity.

Second, the rules around cryptocurrencies are starting to become more apparent. This development is good news because it makes the crypto financial services sector less risky and more attractive to investors. Companies that know how to work with these rules could do really well.

Third, big players are becoming interested in crypto, and large institutions are starting to gain exposure to the asset class through exchange-traded funds. As institutional clients need this sector’s financial services, it could translate into more business and growth for companies in this space.

Finally, there’s a lot of room for new and innovative ideas in crypto financial services. Thus, investors have the chance to support companies that could disrupt traditional finance and grow big.

Returning to the spotlight

To attract more investment, the sector’s projects should show they play by the book. They should make it clear they follow all the rules and keep their customers’ assets safe. This makes investors more comfortable putting their money in.

Crypto financial service companies also need to clearly explain what they do, why it’s needed, and how it can grow to help investors see the potential for big returns. Simultaneously, having a rockstar team with expertise in both finance and technology can make a significant difference. For investors, it shows that the company can handle the complex crypto world.

Moreover, crypto financial service firms that can work well with traditional finance and tech companies might have a better chance at success. It showcases how serious they are and whether they can fit into the broader TradFi world.

Focusing on these areas could make the crypto financial services sector more appealing to investors, helping it grow and become an even more critical part of the financial industry.

A well-positioned sector for future crypto VC funding

Given the current trends and developments, it is likely that cryptocurrency financial services will attract more investments in the next two to three years.

One of the reasons I’m optimistic about the sector’s future is that more and more big companies want to get into crypto. They need safe and reliable services to help them do this, which could mean more business for digital asset financial companies.

Also, as the government clarifies the rules around crypto, people will be more comfortable investing in it. Thus, it could bring more money into cryptocurrency financial services.

Improved technology is enhancing crypto financial services, attracting investors seeking innovative opportunities. Companies now offer crypto-insurance, payments, and loans, which could drive even more investments. The growing use of crypto raises the need for supporting financial services, potentially leading to increased sector investments.

With big companies getting involved, clearer rules, better tech, more services, and growing crypto adoption, the digital asset industry’s financial services sector could become a hot spot for VC investments in the next couple of years.

Read more: Investors must protect themselves from hidden defi costs in 2024 | Opinion

Author: Eugene Krasicki

Eugene Krasicki is the founder and CEO of neobank Keytom, one bank for all digital assets. An impact entrepreneur with over 15 years of expertise, he has paved his path through various industries, from manufacturing and fine wine to real estate and banking. Beyond his entrepreneurial pursuits, Eugene has a deep interest in alternative investments, recognizing their potential in diversifying portfolios and generating long-term returns.

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

For the second time in the crypto market history, memecoins spearhead the new bull run while demonstrating unprecedented growth. Some slam meme tokens for having “zero value” and being harmful to the industry, but others praise them for engaging communities and attracting new users to crypto. Meanwhile, the latest memecoin boom has sparked a surge in transaction volume in web3 wallets, defining new leaders in the crypto storage landscape. 

You might also like: Memecoins are transforming digital marketing | Opinion

Regardless of what anyone thinks about the value of memecoins, their influence on the crypto market right now is hard to overstate.

The new rise of dog coins

The soar of meme tokens marks the emerging bull run. By the end of March 2024, the capitalization of top meme coins reached $80 billion, which is close to the all-time highs seen during the previous rally in 2021. At the time of writing, the total value has corrected to nearly $55 billion.

The top memecoins by market cap are Dogecoin and Shiba Inu, well-known from previous alt seasons, but new leaders have also popped up. Among them are BONK, “The Dog Coin of the People,” and Book of Meme (BOME)—a Solana-based token that skyrocketed 457 times since its listing on Binance on March 16, only to plummet by 50% later.

Another leader in the race is Dogwifhat (WIF), also based on Solana. As the token has gained 22X since January, its supporters managed to raise 690,000 USDC to showcase the project’s mascot at Sphere in Las Vegas.

WIF on Sphere in Las Vegas | Source: Dogwifhat How the current meme rally is different 

Analysts note how “weird” the current rally is compared to previous market cycles. Zach Rynes, the community liaison at Chainlink, points out that the market skipped several stages—liquidity shifted from Bitcoin directly into memecoins, bypassing several intermediate steps such as Ethereum and other high-cap coins.

The market capitalization of memecoins has already approached its all-time high level of 2021. But this time, this is perhaps only the beginning of the rally—the Bitcoin halving hasn’t even happened yet, while market peaks typically occur within one year after the event.

Web3 wallet activity spikes 

We are now witnessing a sharp increase in the crypto wallets’ transaction volume, which can be at least partially attributed to the memecoin frenzy. Among the top five web3 wallets, one saw growth of 18% in weekly active users, while two others experienced an increase of almost 50%.

Source: Dune

What stands out is the transaction count: the weekly figures in two wallets have surpassed those of MetaMask, one of the most widely used web3 wallets that gained recognition in previous market cycles. Leading the list is Bitget Wallet—a solution by a crypto exchange Bitget that acquired the BitKeep wallet last year and has been developing it under its own brand since then. The wallet recently listed trading pairs with BOME and BONK, which could have contributed to the surge in transaction volume.

Another chart clarifies how the web3 landscape has changed in recent months and weeks: the percentage of transactions processed by MetaMask dropped from 100% to nearly 19%, giving way to new players.

Data: Dune “Think twice before calling it stupid”: what experts say about memecoins  

Market experts have directly opposite opinions on memecoins. Among those articulating a popular point of view is Franklin Templeton, an American trillion-dollar asset management firm. The company notes that meme coins have appealed to many traders due to low fees and the potential for quick profits. Experts warn that tokens originating from internet memes “have no inherent value or utility.” “Meme coins harm the crypto industry,” adds Ki Joung Ju, the founder and CEO of the blockchain analytics firm CryptoQuant. He continues:

“It’s frustrating to see billion-dollar-cap meme coins overshadow hardworking teams building legit products to advance this industry. Easy money can’t drive industry-wide progress.”

However, many market participants argue for the opposite. It’s crucial to think twice before labeling memecoins as “stupid and valueless” since they can benefit blockchain ecosystems by attracting new users and developers, says crypto entrepreneur Arthur Hayes.

Memecoins will remain a vital part of the crypto industry and potentially evolve into a new asset class, believes Maartje Bus, VP of research at Messari. They “inadvertently” introduce newcomers to web3 basics, including decentralized exchanges and crypto wallets, and bring people together in the blockchain space.

The evolution of memecoins

Like many crypto phenomena, memecoins have the potential to evolve and become more than just a tool for short-term gain. Vitalik Buterin suggests that meme tokens can contribute positively to society, serving as tools for funding public projects.

Whatever memecoins may become in the future, they are transforming the market right now. In the current market phase, meme tokens drive up the value of L1 chain coins such as Ethereum and Solana and reshape the web3 wallet leaderboard. The upcoming rally will show further changes that meme coins will bring to the crypto market.

Read more: From Hollywood to HODL: how celebrity adoption is spurring the growth of memecoins

Author: Mary Pedler

Mary Pedler is a seasoned communication expert and founder of INPUT Communications Agency, with over seven years of experience in GR and PR. Her expertise has significantly contributed to the success of over 50 tech projects, enhancing their organic media presence and aiding in raising over $500 million. Mary’s proficiency in global media relations, tailored communication strategies, and deep understanding of web3, blockchain, and the MENA market positions her as a leader in her field. Mary is a regular speaker and moderator at industry events, and her agency in Dubai specializes in creating effective communication strategies for tech projects worldwide.