The post Mike Novogratz: Meme Coins Dominating with $60 Billion Market Cap appeared first on Coinpedia Fintech News

Mike Novogratz is bullish on meme coins, predicting their long-term survival and believing that these assets are now a part of the economy. The Galaxy Digital CEO noted that people are making fortunes from meme coin investments. He wrote on X, stating that meme coins have become the cornerstone of the crypto economy, whether or not people are fans of them. According to Galaxy Digital’s estimation, the meme coin market is now close to $60 billion, with DOGE, SHIB, and PEPE dominating. Notably, Shiba Inu has its own Domain Name Service and a layer 2 scaling solution.

The post Terra Luna Classic (LUNC) Price Faces a Steep Uphill Ahead Following Historical US SEC Settlement  appeared first on Coinpedia Fintech News

The Terra Luna Classic (LUNC) community has undergone a challenging period since the 2022 market capitulation, which wiped out over $30 billion in a single week. The historical fall of UST logarithmic stablecoins has haunted the Terra LUNC ecosystem despite rebranding to refreshed products in the recent past. 

Moreover, the leadership of Do Kwon has largely been questioned, more so with regard to customer protection measures. Additionally, more blockchains and web3 projects have emerged in the last two years, which have implemented better customer protection measures.

Terra Ecosystem Pays Hefty Fines

According to US SEC filings, Terraform Labs and Do Kwon agreed to pay a lump sum of $4.47 billion in fines after reaching a settlement with the agency. In addition to the fines, Kwon is expected to pay about $204 million to ensure the Terraform investors are reimbursed in the ongoing bankruptcy proceedings. 

As part of the settlement with the US SEC, Kwon agreed to never hold a leadership position while the company was forced to never undertake any crypto trading operations.

What Next for LUNC Price Action

From a technical standpoint, LUNC’s price against the US dollar is at a critical juncture that could lead to further losses ahead. The small-cap altcoin, with a fully diluted valuation of about $591 million and a daily average traded volume of around $38 million, has never recovered from the 2022 chronicles. 

The altcoin has continued to consolidate in a macro triangular pattern, despite the notable network developments. Already, the altcoin has lost the support of the weekly 50 Moving Average (MA) and the Relative Strength Index (RSI) has struggled to rally above the 50 basis point level.

Can Burns Save the Day?

In addition to periodic on-chain burns, the Terra LUNC community has pushed for more burns to bolster bullish prospects. Earlier this month, Binance burned 1.35 billion LUNC, thus cumulative having burned around 60 billion. 

Meanwhile, the Terra LUNC community approved a 256 million, worth about $30k, spend for development works earlier this week.

The post AI Coins Pumping As Fetch.ai, Injective, WienerAI See Gains appeared first on Coinpedia Fintech News

AI coins have resurfaced as one of crypto’s top-performing asset classes today, with projects like Fetch.ai and Injective booking solid gains. Meanwhile, the new presale AI project WienerAI is also showing bullish momentum, with its total raise approaching $6 million.

AI Cryptos Boom as Market Selloff Halts

The crypto market has found its footing after a week of selling pressure, providing AI coins with bullish momentum.

Following Fed chair Jerome Powell’s enlightening words at Wednesday’s FOMC meeting, the crypto market has seen a 0.4% uptick.

However, all eyes are on AI cryptocurrencies, with CoinMarketCap reporting the sector’s valuation has jumped by 3.3% today.

This comes as chip manufacturer Nvidia continues to gain pace in the stock market. It is currently trading at an all-time high (ATH) and up 38.5% this month.

AI agent-focused cryptocurrency Fetch.ai has enjoyed a 6% rise today, recovering some losses from the recent market-wide selloff.

Meanwhile, the DeFi-focused blockchain, Injective Protocol, which leans on AI to improve market efficiency and optimize decision-making processes, has posted a 12% gain today.

Injective has remained sheltered from crypto’s recent selloff, up 34% this month.

Other large-cap AI cryptocurrencies have also made strong gains today. Currently, Render is up 6%, Bittensor is up 6%, and SingularityNET is up 4%.

In a recent analysis, Crypto Vikings predicted that Fetch.ai will continue to trend upward, noting it is approximately 50% of its ATH, which presents good value for new buyers.

$FET – AI Blue-chip coin and AI sector has still a lot of potential growth– Already corrected more than 50% which is a juicy dip and proven to be a very profitable strategy to buy trendy Blue-chip coin at 50% discount– Merge very soon to ASI (bottom event)I bought lots of… pic.twitter.com/9XqUte5aLp

— Crypto Vikings (@CryptoVikings07) June 12, 2024

In reply to a comment on the tweet, the analyst suggested Fetch.ai could see up to 20x gains this cycle.

Moving to Injective, Altcoin Miyagi hailed it as having “one of the most bullish charts in crypto right now” and suggests it is going “so much higher.”

$INJ This has to be one of the most bullish charts in crypto right now, I mean how can it not be?Smashed ATH first try through bear/start of bullmarket… retraced and tested ATH for 3 months and now we're seeing signs of the move up… WHEN $BTC IS BEARISH?Going so… pic.twitter.com/GAYwyNU1P2

— Altcoin Miyagi (@AltcoinMiyagi) June 12, 2024

Indeed, the outsized performance of AI coins against other cryptocurrencies reflects the unwavering interest in AI technology, which has been ramping up since the launch of OpenAI’s ChatGPT in 2022.

With that, new AI cryptocurrencies like WienerAI have a favourable launch environment thanks to their low valuations in a rapidly growing sector.

WienerAI Presale Nears $6M – Is This the Next 10X AI Coin?

While tapping into the enthralling market dynamics of AI cryptocurrencies, WienerAI also holds exposure to the meme coin niche, with its AI technology masked behind a dog-themed facade.

This juncture has drawn significant attention to the project, enabling its presale to skyrocket in notoriety.

WienerAI’s central proposition is an AI-enhanced trading bot that helps users make better trading decisions.

They can ask questions or outline criteria, and the bot will scour the market for the best trading opportunities.

And it doesn’t stop there. Once it finds a suitable cryptocurrency, users can take advantage of its instant, fee-free, MEV-resistant, and noob-friendly trade execution. This means no more long wait times or getting front-run by MEV bots when buying crypto on-chain.

Leading analysts have rallied behind this cutting-edge use case, with the Crypto News YouTube channel suggesting that it has 100x potential.

The project also offers a staking layer that rewards users for locking up their tokens. They can currently earn a 201% APY, but this will decrease as the staking pool grows.

At the same time, the WienerAI presale price will gradually increase throughout the campaign.

With that in mind, prospective investors would be well-suited to get in as early as possible and secure the most value.

The post Tesla Shareholders Approve Elon Musk’s Historic $56 Billion Pay Deal appeared first on Coinpedia Fintech News

Tesla shareholders showed tremendous support as they strongly voted in favor of Elon Musk’s $56 billion pay package and the relocation of the company’s legal headquarters to Texas. Musk expressed gratitude for the shareholders’ support despite the legal challenges. Notably, it is the largest pay deal in U.S. corporate history, which the Tesla board believes should be awarded to Musk for achieving specific market value, revenue, and profitability milestones. A Delaware judge had previously criticized the board, citing the amount as ‘unfathomable’ and pointing out the failure to ensure proper shareholder consent.

The post Ethereum is mirroring Bitcoin’s price action: Is this a good news or bad news? appeared first on Coinpedia Fintech News

Analyst Josh of Crypto World said that the Bitcoin price is now flashing a new short-term signal that requires attention and Ethereum is rejecting key resistance after bouncing from key support. As soon as the new CPI numbers were released, showing 3.3% year-over-year inflation, Bitcoin saw a quick pump in price.

This was followed by the Federal Reserve’s meeting, where they decided to keep interest rates unchanged. However, the Fed hinted at fewer rate cuts later this year, potentially only one instead of the two to three cuts many expected. This led to a “buy the rumor, sell the news” scenario: the bullish CPI numbers caused an initial pump, but the Fed’s more cautious stance on rate cuts led to a retracement of those gains.

What’s next for Bitcoin?

The analyst noted that the recent events negatively impacted Bitcoin’s price. Currently, the Bitcoin charts show a period of consolidation in the short term, while maintaining a larger bullish trend on longer time frames. 

Additionally, Bitcoin is forming an inverse Head and Shoulders pattern, a bullish indicator, contingent on breaking above the $71.7K to $74K resistance levels. The potential target for this breakout is around $86K to $87K. 

Support for Bitcoin is currently at $67K to $68K, with resistance between $72K and $74K, leading to a neutral outlook while the price remains in this range. 

What’s next for Ethereum?

The analyst then said that in the short term, Ethereum recently bounced off the 38.2% Fibonacci level of support, around $3,480, on the logarithmic settings. Below this level, the 50% retracement support is at approximately $3,340, and the golden pocket support lies between $3,170 and $3,220.

On the 8-hour ETH to USD chart, Ethereum’s price mirrored Bitcoin’s action by bouncing from around $3,450 but is now facing resistance at the golden pocket area, between $3,600 and $3,650. If ETH breaks above $3,650 with confirmed candle closes, further resistance is expected between $3,800 and $3,900.

What’s next for Solana?

Moving on to Solana, he said that the coin is showing similar price action to Ethereum. Solana has bounced almost perfectly from the support area between $140 and $144, specifically around $145. It is now encountering strong resistance at $160, which has been a significant level of support and resistance in the past. If Solana breaks and closes above $160, the next resistance zone is between $170 and $175. However, as long as Solana remains between this support and resistance, it is likely to continue trading in a choppy sideways range in the short term. 

The post Play-to-Earn Meme Coin Project PlayDoge Raises $4M in Trending Presale  appeared first on Coinpedia Fintech News

PlayDoge ($PLAY) is a new cryptocurrency that has taken the market by storm after raising $4 million in its opening three weeks of presale.

This milestone comes as the team launches staking on Ethereum, in addition to its original staking on BNB Smart Chain. 

The latter remains PlayDoge’s primary residence, with its Play-to-Earn (P2E) game set to launch there.

PlayDoge is a remake of the hit 1990s Tamagotchi game, featuring the iconic Doge meme as its mascot. 6 of the top 10 biggest meme coins by market cap are inspired by the meme, which reflects PlayDoge’s entrenchment within crypto meme coin culture.

The PlayDoge game offers a fun and immersive gaming experience where users care for their 8-bit pet to earn rewards.

For those seeking to capitalize on the project’s potentially massive upside ahead of the game launch, the PlayDoge presale offers an opportunity to get in from the ground floor.

Currently available at $0.00507, this might be the last chance to buy at such a low price.

Incremental price hikes are built into the PlayDoge presale, and the token’s inherent utility and meme coin allure indicate a continuous flow of demand once it hits the open market.

The next presale price hike will occur in one day or when the total raise hits $4.6 million.

Meme coins and gaming are on fire.

Meme coins and gaming projects have enjoyed unwavering success recently, and now, PlayDoge wants to take a piece of the action.

The meme coin narrative is seriously heating up, with many leading players outpacing their more conservative counterparts.

For perspective, BTC is up 11% this month, while Pepe is up 50%, Bonk is up 21%, and Brett is up over 300%.

And it’s not just “pure” meme coins that outperform, either. For instance, P2E meme coin-hybrid Floki has jumped 40% this month and an eye-watering 895% this year.

Floki is developing a P2E game called Valhalla, pitting it against PlayDoge in the P2E meme coin domain. However, Floki’s market cap is $2 billion, reflecting the substantial growth potential for $PLAY.

Adding to the excitement, the gaming market is set to expand in the coming years. A report from Precedence Research expects it to climb to a $655 billion valuation by 2033.

One of the industry’s latest innovations is P2E gaming, which redistributes value to players. Currently, the sector sits at an $11.8 billion market cap, according to CoinGecko.

Retrofitting Tamagotchi with modern P2E functionality

PlayDoge is far from your average meme coin. It intertwines the nostalgic allure of Tamagotchi with cutting-edge P2E dynamics to establish a captivating ecosystem underpinned by value.

Tamagotchi sold over 82 million units, so there’s a huge pool of people who will be delighted to relive their childhood lore while earning crypto rewards.

By interacting with their pets, players will rack up XP points, which pushes them up the project’s leaderboard and enables them to earn more $PLAY tokens.

PlayDoge also dials down the original game’s notorious difficulty, providing a more accessible and enjoyable experience for all participants.

Another way to earn $PLAY is through staking. The staking mechanism is live and currently offers 217% APY for Ethereum users and 87% APY for BNB users.

While appealing to fans of the original game, PlayDoge’s P2E twist enables players to monetize their experience, creating a favourable juncture within the crypto gaming and meme coin domains.

PlayDoge is exposed to three hot crypto sectors

Given its position at the intersection of meme coins, P2E, and the gaming remake niches, PlayDoge has plenty of room to grow.

Last year was deemed the golden age for gaming remakes, driven by nostalgia and tech advancements. And that’s not to mention sales of gaming remakes almost doubling between 2018 and 2020.

Combining this with contemporary technology trends like meme coins and P2E, the breadth of PlayDoge’s potential becomes all too apparent.

As such, analysts are highly bullish on the new presale. For example, Jacob Bury provided a price prediction, suggesting the project could 10x.

Others have taken it even further, with the Crypto News YouTube channel speculating the project holds 100x potential.

Be first in line to PlayDoge’s Tamagotchi-inspired game with $PLAY

As mentioned, the PlayDoge platform is currently under development, but the high-octane presale provides early exposure to the project.

50% of the token’s total supply is allocated to the presale, with the remaining 50% going towards community rewards, liquidity, marketing, project funds, and staking.

Given that PlayDoge’s primary blockchain is BNB Smart Chain, the project’s early success could well catch the eye of Binance’s listing team. It would not be the first time Binance lists a meme coin early.

The exchange-listed Book of Meme within two days of its launch, which skyrocketed its market cap to over $1 billion.

PlayDoge has also been audited by Solid Proof, a third-party blockchain security firm, attesting to the project’s robustness and transparency.

Take advantage of the low PlayDoge presale price. Follow the project on X or join its Telegram to keep updated. Alternatively, visit its website to buy and stake tokens.

The post UWU Lend Hit with Second Attack in a Row, Losses Reach Upto $3.7 Million appeared first on Coinpedia Fintech News

UWU lend, a defi lending protocol, has become the latest victim of a hacker attack two times in a row. According to the We 3 security firm Cyvers alerts, the hacker applied the same hack method as the previous one, targeting UWU lends liquidity pools. The stolen assets, nearly $3.7 million, were converted to ETH and stored at the hacker’s address. This comes days after UWU lend suffered a $20 million hack due to Oracle price manipulation by the same hacker.

The post Shiboon Dual Meme Coin Mania Begins Limited Presale Offer – Get Ready for Dual Meme Coin Explosion! appeared first on Coinpedia Fintech News

Thursday, June 13, 2024 –Shiboon, The World’s First Dual Meme Coin that is keeping crypto hunters on their toes, kicks off its presale today. The secret sauce? The exceptional presale offer time is unannounced. Will it be the shortest presale and quickest launch in the meme coin history? The interest in this meme world-changing coin is like no other.

Don’t Miss Out: The Shiboon Presale is Here!

In response to the overwhelming demand, Shiboon has announced the opening of its first (And maybe the last?) pre-sale round, extending an invitation to those brave enough to seize this opportunity.

This is your golden ticket to join a groundbreaking venture from the very beginning. With unprecedented interest and an unpredictable presale window, the rush is on to secure your place in the next big crypto phenomenon. The team is keeping everyone on their toes—will the impulsive Shi lead to an early close, or will Boon stretch this adventure longer? Get in now and find out!

Shiboon’s Premier Launch: Discover the $SHI and $BOON Excitement

With its pre-sale opening for an unspecified time, ‘memeheads’ are eagerly snapping up Shiboon Coins. This fervor is setting the crypto community ablaze, with everyone scrambling to secure their share of $SHI and $BOON’s dual power.

Even though it hasn’t officially started yet, Shiboon has already stood out among many meme coins because of its smart market strategy, super active community, and big plans for marketing.

Traversing the Meme Coin Landscape

The emergence of Shiboon comes at a time when the meme coin sector is witnessing a shift towards multi-chain strategies, utilizing both the Solana and Ethereum blockchains for their respective advantages. This transition is partly influenced by the limitations observed in single-chain tokens like PepeCoin (PEPE), which, despite its previous success and a peak market cap of $3.4 billion, now competes with the dynamism of Shiboon’s dual-chain offering. Ethereum meme coin holders are diversifying their portfolios and heavily investing in Solana-based tokens, and vice versa.

Just think about how much the first meme dog gained, followed by the first meme cat and the first frog. Now, the time is ripe for dual meme coins, and Shiboon is leading the charge.

Huge Airdrop Expected

Shiboon’s airdrop is shrouded in mystery, with the team not officially revealing the size. However, observing their commitment and strategy, the community can expect something huge. This strategy aims to attract attention, ensure active participation, and provide potential rewards for Shiboon Token holders. Coupled with focused marketing efforts, this approach underscores the team’s ambition to leave a lasting impact in the meme coin space, promising exciting developments and rewards for participants.

Tokenomics: Transparent and Fair

Shiboon’s tokenomics reveal a supply of 1,000,000,000 $SHBN. Key points include:

– No taxes: Ensuring transparency and fairness.

– LP Tokens Burn: To maintain value and stability.

– Contract Ownership Renounced: A dedication to an honest and fair launch, with no secret taxes or team tokens.

How to Buy Shiboon Coins?

To participate in the Shiboon Pre-sale, traders will need to use both Solana-compatible wallets such as Phantom or Ethereum-compatible wallets such as MetaMask.

Then, using SOL or ETH tokens, users can swap for SHIBOON via the Shiboon website.

Join the Shiboon community on X (Twitter) to stay tuned with the latest news and updates.

GET SHIBOON HERE

The post MicroStrategy Announces $650M Note Redemption – Convert Now or Miss Out! appeared first on Coinpedia Fintech News

MicroStrategy Incorporated has announced through a press release today that it intends to fully redeem its 0.750% Convertible Senior Notes due 2025, valued at $650 million. However, note holders have the option to convert their notes into shares of MicroStrategy’s (MSTR) Class A common stock before the scheduled redemption date.

Redemption Details

According to the press release, the redemption is scheduled for July 15, 2024. The redemption price will be 100% of the principal amount plus any accrued and unpaid interest up to the redemption date. 

MicroStrategy to Redeem $650M of 2025 Convertible Notes and Settle All Conversion Requests in Shares $MSTR https://t.co/FPCck6pU9d

— Michael Saylor (@saylor) June 13, 2024

Investors can convert their notes at a rate of 2.5126 shares per $1,000 principal amount, reflecting a conversion price of $397.99 per share. This conversion option remains open until 5:00 p.m., New York City time, on July 11, 2024. 

However, note holders have the option to convert their notes into shares of MicroStrategy’s Class A common stock before the redemption date. MicroStrategy has chosen to fulfill its conversion obligation entirely in shares, along with cash for any fractional shares.

Procedures for Conversion

To convert their notes, holders must follow the procedures outlined in the indenture governing the Notes. This includes electronic presentation and surrender through the facilities of the Depository Trust Company (DTC).

Additionally, this announcement does not serve as an offer to buy or sell any Notes and is not applicable in jurisdictions where such offers or sales are unlawful.

The post Taiwan Forms Industry Association for Crypto Self-Regulation appeared first on Coinpedia Fintech News

Taiwan has taken a step towards self-regulation today by officially establishing an industry association. Under government guidelines, the association is required to formulate self-supervisory rules. The CEO and founder of BitoPro will chair the association. Crypto service providers must comply with the AML laws introduced by the Financial Supervisory Commission in July 2021. Twenty-four crypto firms registered with the FSC for anti-money laundering compliance have joined the Taiwan Virtual Asset Service Provider Association. This is a crucial step for Taiwan to enhance its oversight of crypto trading platforms.

The post Coinbase Highlights Decline in US Crypto Talent, Calls for Regulatory Clarity appeared first on Coinpedia Fintech News

Coinbase has recently raised concerns over the declining crypto talent in the US, emphasizing the importance of regulatory certainty to ensure the retention of skilled individuals in the country. After surveying top corporations, the survey of Fortune 500 companies revealed a 14-point drop in the developer share over the past five years, despite an increase in the number of top companies moving on-chain. As of May 2024, only 26% of crypto developers are US-based. The survey highlighted that the lack of skilled developers significantly impacts companies’ ability to leverage blockchain technology fully. Leaders call for clear regulatory guidelines to foster innovation and attract and retain talent in the US.

The post Meta Platforms to Fire 50 Vice Presidents in Cost-Cutting Strategy appeared first on Coinpedia Fintech News

To streamline its operations and reduce costs, Meta Platforms is planning to fire 50 Vice Presidents. This move is part of its larger plan to create a leaner and more efficient company. Some of Meta’s strategic tenets are reducing management layers, focusing on high-value projects, investing in new AI tools and technologies, and optimizing engineering ratios. Notably, Meta plans to spend $35-40 billion by 2024 on AI and their Reality Labs metaverse division, which is $5 billion more than its initial projection.

The post Can Solana v1.18.15 Upgrade Ignite a Meme Frenzy? Dogwifhat, BONK, and DTX Exchange Show Explosive Potential appeared first on Coinpedia Fintech News

The recent upgrade of Solana (SOL) to version 1.18.15 has sparked interest among investors and enthusiasts. This upgrade promises enhanced stability and performance, potentially setting the stage for meme-based cryptocurrencies like Dogwifhat (WIF) and Bonk (BONK) to take off. 

In the meantime, DTX Exchange’s powerful presale is gaining momentum with cutting-edge blockchain technology. In the past 24 hours, it has climbed above $30,000, gaining high attention from investors and crypto whales.

How Does Solana v1.18.15 Upgrade Address Network Stability?

Solana (SOL) new Mainnet Beta 1.18.15 brings multiple improvements to enhance network performance and stability. This update introduces an optional central scheduler feature designed to address performance bottlenecks during periods of network congestion.

According to Solana Beach, a website tracking validator statistics, approximately 38% of the network’s validators have already upgraded to this latest version.

Bonk (BONK) Price Projections and Analysis

Bonk (BONK) has quickly gained a reputation within the crowded meme coin market for its low transaction fees and high-speed transactions. As for its weekly forecast, the memecoin had a price dip of 16.71% over the past seven days, bringing its price to $0.00002859 with a $1.94B market cap and a $377M trading volume in the past 24 hours.

With an RSI of 46.30, BONK is currently under moderate selling pressure. Yet, its community-driven appeal and the ongoing developments on the Solana blockchain might soon reverse this trend, potentially leading to a huge rebound.

Dogwifhat (WIF) Loses Investors’ Confidence After Price Decline

As a Solana-based token, Dogwifhat (WIF) will benefit from the network’s latest upgrades, which enhance transaction efficiency and scalability – crucial factors for sustaining its large-scale meme transactions and interactive community engagements. Currently priced at $2.67, WIF has experienced a noticeable decline of 22.88% over the last week.

However, with a $2.6 billion market cap and $402 million trading volume, WIF’s RSI at 41.49 indicates that WIF might be undervalued, presenting a potential buying opportunity for investors. Given Solana’s enhancements and the growing trend of meme coins in the crypto sphere, WIF could see an upswing as both traders capitalize on its lower prices to build positions.

DTX Exchange (DTX) Presale Bags $30,000 In A Single Day

As meme-centric tokens eye the Solana upgrade, the DTX Exchange (DTX) is making huge movements in terms of single-day raise in the presale stage. DTX is designed to combine the reliability of traditional financial platforms with the efficiency of blockchain technology.

It is a comprehensive trading solution that caters to a broad spectrum of traders, from novices to seasoned professionals. With over $693,000 raised in its presale to date, and tokens currently selling at $0.04, set to increase to $0.06 in the next round, DTX is gearing up for explosive growth.

DTX Exchange Dominates With High-Tech Blockchain Technology

DTX Exchange’s intuitive user interface simplifies the complexity of crypto trading, making it accessible to a wider audience. With a massive fundraising achievement in both private and public rounds, DTX is well-positioned to enhance its offerings, potentially making it a hub for trading traditional cryptos like Solana, BONK, WIF, and a variety of other digital assets.

Solana’s upgrade integration suggests a bullish future for DTX, as it stands at the crossroads of traditional trading virtues and modern-day crypto innovations. As the market experiences Solana’s upgrade, traders are expected to see a meme frenzy. Investors are closely monitoring these platforms for higher gains and benefits.

Learn more: 

Visit DTX Presale

Read Whitepaper

Join The DTX Community

The post Sell Trade Triggered for This Memecoin: Can ShibArmy Lift the Shiba Inu Price Above Bearish Heat? appeared first on Coinpedia Fintech News

In times when the Bitcoin price is displaying less strength, the markets have begun to consolidate. Besides, the memecoins are also plunging with a decent margin, suggesting thick bearish clouds hover over the crypto space, including Shiba Inu (SHIB). The latest price action has dragged the popular memecoin close to the pivotal support zone, which could be the last point of defence above $0.00002. 

After the latest sell-off, the trade set-up has slightly changed in favour of the bears as the sell-signals have been haunting the SHIB price rally. In the first few days of March, the platform witnessed a massive rise in buying pressure, which caused a 300% jump in the price. Unfortunately, a huge sell-off triggered that dragged the levels by more than 40%. While market participants expect a strong rebound, a bearish continuation may be imminent. 

The current trade set of Shiba Inu indicates the price is all set to test the local lows below $0.000019, as it did a few weeks ago. The RSI is heading towards the lower threshold without any bearish divergence. Besides, the Ichimoku cloud just turned bearish as the conversion line and the base line underwent a bearish crossover. Therefore, after a brief consolidation, the SHIB price is expected to break down into the key support zone between $0.00002107 and $0.00002157. 

As the price breaks down the range, it may drop to the local support levels at $0.0000188, but a rebound may not be expected in the near future. The technicals suggest the volume may remain consolidated within a range which could slash the volatility of the token. This could compel the price to remain accumulated within a range and once the price surges back within the pattern, a breakout beyond the resistance at $0.000025 may be imminent. 

The post Dormant Ethereum Whale Reactivates as Ethereum Spot ETF Approval Triggers Rally, ERC-20 Presale Makes History appeared first on Coinpedia Fintech News

The cryptocurrency world is abuzz with excitement as a dormant Ethereum investor has suddenly roared back to life, coinciding with a remarkable surge in price following the landmark approval of the Ethereum spot ETF. 

This groundbreaking move has been hailed as a major breakthrough, paving the way for widespread adoption and institutional investment in the cryptocurrency space. 

Meanwhile, a certain coin’s presale has made history, shattering records and cementing its place in the cryptocurrency hall of fame. As the market continues to hum with anticipation, all eyes are fixed on Ethereum, eagerly awaiting its next move. 

It’s clear that the approval of the Ethereum spot ETF has opened up a whole new world of possibilities for the cryptocurrency space – and we can’t wait to see what happens next!

Here we will look at the approval of the Ethereum spot ETF and the amazing presale of ERC-20.

Ethereum price drops but whale activity surges after spot ETF approval

The price of Ethereum (ETH) has been declining, falling below 3600 and losing 5.89% in the last seven days. But in spite of this decline in price, Ethereum whale activity has increased dramatically since the Ethereum spot ETF was approved. 

The number of Ethereum addresses holding 10,000 or more ETH has climbed by 3% over the past three weeks, according to cryptocurrency expert Ali Martinez, suggesting a notable uptick in purchasing demand.

Technical experts think Ethereum (ETH) is ready for a possible rally, and the approval of the Ethereum spot ETF has been a significant milestone.  The cryptocurrency recently broke through its consolidation pattern resistance, spurred by the Ethereum spot ETF approval news on May 20th. 

Analyst RLinda notes that ETH is currently forming a consolidation pattern with the potential for an upward breakout, targeting the $3,830-$3,950 resistance.

The introduction of Ethereum spot ETFs has resulted in huge price gains for altcoins, like ETFSwap (ETFS), which experienced tremendous growth during presale rounds.

The introduction of the Ethereum spot ETF is estimated to pour billions into the ETH ecosystem within the first year, with ETFSwap ideally positioned to gain from this influx of capital. The Ethereum spot ETF has been a game changer, and its market impact is only now beginning to be seen.

Ethereum price analysis

Ethereum is now priced at $3,526.8, with a 24-hour trading volume of $15.46 billion and a market value of $422.30 billion. The 24-hour low is $3,435.71, and the high is $3,544.58.

Ethereum’s price has fallen below $3,500, showing investors’ cautious stance. The 24-hour change is -0.59%, while the seven-day change is -7.6%. A dovish approach from the US Federal Reserve might contribute to an upward trend for Ethereum, whilst a hawkish posture could result in more selling pressure.

ALGT: The amazing ERC-20 high-demand presale

Algotech uses cutting-edge AI technology to create an intuitive platform that breaks down the hurdles associated with algorithmic trading. Imagine a society in which these advanced tools are accessible to everyone, with no prerequisite knowledge. This is made possible by Algotech.

Thanks to its amazing ALGT presale, which earned an astounding $6.4M, the decentralized network has attracted a large user base. As the token moves through the Bonus Stage at $0.08, investors in Stage 2 also profited 100%. In its next phase, ALGT is anticipated to grow to $0.10, a 25% increase from its current price.

Analysts believe that ALGT will rise significantly—maybe even more than 1200%—after it launches on the major market, making it one of the best cryptocurrencies to purchase right now.

For more details about Algotech:

Visit Algotech Presale

Join The Algotech Community

The post Binance Partners with Macao Judiciary Police To Strengthen Law Enforcement appeared first on Coinpedia Fintech News

Binance, a leading cryptocurrency exchange, has joined hands with the Macao Judiciary Police to pioneer an in-person law enforcement training program, marking a significant milestone in its global cooperation with law enforcement agencies.

Over 40 representatives from the Macao Judiciary Police’s Criminal Investigation Department and Gaming-related and Economic Crimes Investigation Department participated in the training session. With this Binance aims to boost security in blockchain and digital realms, hosting training programs globally.

Macao Training Initiative

The training session, held at the Macao Judiciary Police College on May 21, featured Carlos Mak, a specialist from Binance’s investigation team, as the lead instructor. 

Mak shared invaluable insights into the investigation of blockchain and virtual asset-related crimes, shedding light on Binance’s collaborative efforts with law enforcement agencies worldwide.

BINANCE BLOG: Binance Partners With Macao Judiciary Police For First In-Person Law Enforcement Training币安战略: 币安与澳门司法警察局合作开展首次现场执法培训https://t.co/pz57Uxcl6z$FOR

— 方程式新闻 BWEnews (@bwenews) June 13, 2024

A spokesperson from the Macao Judiciary Police expressed gratitude for Binance’s initiative, recognizing its significant contribution to strengthening crime prevention strategies and equipping our officers with essential skills to combat digital-age criminal activities effectively.

Carlos Mak also praised the collaboration, highlighting Binance’s firm commitment to combating financial crime. He stated, “We’re honored to partner with Macao law enforcement officers, aiming to share knowledge and foster cooperation in safeguarding users and ensuring online financial security.”

Binance Groundbreaking Commitment 

Earlier this year, Binance’s CEO, stated in their 200M user milestone AMA session, pin-pointed about partnering with governments for crypto awareness. Binance is committed to enhancing security in the blockchain and digital realms. 

Through global training programs, Binance equips law enforcement with blockchain expertise.

Global Efforts to Combat Financial Crime

The Macao training initiative is part of Binance’s broader commitment to collaborating with law enforcement agencies worldwide. In 2023, Binance organized over 120 online and offline law enforcement training sessions globally. 

Last month, it hosted the inaugural online Law Enforcement Training Day, attracting participation from over 1,300 officers worldwide.

These efforts underscore the global law enforcement community’s growing focus on virtual asset-related crimes, highlighting the significance of collaborative initiatives in safeguarding the Web3 ecosystem.

The post Does Ripple Approach the End of Its Battle With the SEC? Garlinghouse Thinks So! appeared first on Coinpedia Fintech News

Ripple, the San Francisco-based blockchain company, is nearing the conclusion of its prolonged legal dispute with the US Securities and Exchange Commission. According to CEO Brand Garlinghouse, the end is in sight, with a humorous reference to September 21 as ‘the end of summer.’

The Ongoing Battle Between Ripple and SEC

Ripple’s conflict with the SEC revolves around classifying and selling its cryptocurrency, XRP. The SEC alleges that Ripple’s sale of XRP constitutes an unregistered securities offering and seeks fines and penalties amounting to $2 billion. U.S. District Judge Analisa Torres previously ruled that Ripple’s sale of XRP worth $728.9 million to sophisticated investors was unlawful.

Ripple’s Stance and Actions on the SEC Legal Battle  

Ripple maintains that XRP is a cryptocurrency, not a security, and has been vigorously defending this position. Recently, the company filed a motion to seal certain documents to protect sensitive business information. While the SEC agreed to some of these requests, it contested others. 

Chief Technology Officer David Schwartz emphasised that Ripple’s global business remains robust despite the US regulatory challenges. He highlighted the more manageable regulatory environment outside the US as a positive factor for the company.

Impact the SEC Legal Battle on XRP and the Crypto Market 

The outcome of this tug-of-war between the SEC and the blockchain company could significantly impact not only Ripple but the broader cryptocurrency market. Regulatory clarity for XRP might set a precedent for other cryptocurrencies, influencing future legal and regulatory approaches.

Currently, XRP is trading at $0.48, down from $0.62 at the beginning of the year. The cryptocurrency has experienced significant volatility, with its price peaking at $0.72 in mid-March before declining again.

As Ripple approaches the final stages of its legal battle with the SEC, its implications are substantial for the company and the cryptocurrency market. The resolution of this case could pave the way for clearer regulatory guidelines, potentially benefiting the entire Web3, Blockchain and Crypto sector.

The post Has AI Boom Restored As RNDR And FET Price Record Huge Gains? appeared first on Coinpedia Fintech News

The crypto market continues to display increased price volatility with top altcoins displaying significant price fluctuations in their respective portfolios. Moreover, following the release of the CPI data, the market experienced a bullish price action.

Moreover, top Artificial Intelligence (AI) tokens such as Render and Fetch.ai recorded a bullish jump in their respective portfolios after trading under a bearish sentiment for about a month. This gives its investors a sign of relief and a high possibility of positive price action in the coming time.

Let’s go as, in this article, we have covered the market analysis and short-term price targets of Render (RNDR) and Fetch.ai (FET) crypto tokens.

Render Token On The Verge Of Testing Its Important Resistance Level:

The RNDR price has displayed a negative price action by recording a correction of 16.37% within the past seven days and 14.82% over the past 30 days. However, the altcoin has regained momentum and has recorded a jump of approximately 5% within the past day.

TradingView: RNDR/ USDT

The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, indicating increased price action for the altcoin in the crypto space. However, the averages constantly decline, suggesting a mixed sentiment for this week’s RNDR coin price.

If the bulls push the Render price above the resistance level of $9.450, the AI token will move toward its upper resistance level of $11760 in the coming time. Conversely, if the bears overpowered the bulls, the Render crypto will plunge toward its crucial support level of $7.325 this month.

Fetch.AI Records A Bullish Bounce Back:

The FET price displayed a bullish price action by adding approximately 6% to its portfolio within the past day. Notably, the altcoin had recorded a correction of 23.10% within the past seven days and 21.15% over the past 30 days.

TradingView: FET/ USDT

With a trading price of $1.638, a circulating supply of 848,193,896 FET tokens, and a market cap of $1.385 Billion, the Fetch.ai price has successfully claimed the 64th spot in the list of top 100 cryptocurrencies by market cap.

The RSI continues to hover close to its oversold range, indicating a weak price action for the Artificial Intelligence (AI) token in the crypto market. Furthermore, the average displays a constant decline, indicating a negative price sentiment for the FET coin price.

If the bulls regain momentum, the Fetch.AI price will prepare to retest its upper resistance level of $2.369. Negatively, if the bears continue to dominate the market, the FET crypto will plunge toward its crucial support level of $1.285.

The post Telegram’s Toncoin Blockchain Outperforms Ethereum In Daily Active Addresses! appeared first on Coinpedia Fintech News

According to the latest on-chain reports, Telegram’s Toncoin blockchain has outperformed the Ethereum blockchain in terms of daily active addresses for 10 out of 12 days this month. This further highlights an increase in the investor’s interest towards the adoption of the Toncoin blockchain when compared to the Ethereum chain. Positively, on 3rd June, the Toncoin blockchain achieved a new milestone by recording 568,300 active users.

The post El Salvador Now Holds 5,779 Bitcoins With Over 473 Coins Mined Since 2021 appeared first on Coinpedia Fintech News

The Republic of El Salvador has grown into a major financial hub in Central America, fueled by its Bitcoin (BTC) adoption plan. After steering the country out of a security crisis in the first term, El Salvador’s President Nayib Bukele was overwhelmingly supported in the recently concluded election. 

El Salvador Bitcoin Holdings Grows Exponentially 

Since El Salvador adopted Bitcoin (BTC) alongside the United States dollar in 2021, the country has accumulated more than 5,779 BTCs, worth about $390.5 million. The country has accumulated more Bitcoins through different sources, including its citizenship program, mining operations, and daily acquisitions.

Earlier this year, El Salvador introduced its Freedom Visa program, which will welcome 5,000 highly skilled individuals with free passports. Notably, the country’s visa program has accepted Bitcoin and USDT payments.

As for the mining operations, El Salvador has obtained more than 473 BTCs, worth over $31 million, since 2021. The country has been using its volcanic geothermal power to mine Bitcoins, thus providing a clean energy solution.

Earlier this year, President Bukele announced that the country would be purchasing 1 Bitcoin per day. 

Meanwhile, the country has significantly improved its infrastructure, including school renovations, roads, and security, to attract more investors. Moreover, it has a Bitcoin Bond that significantly helps run its operations. 

Market Implications 

The palpable gains in Bitcoin in the past year have helped El Salvador’s Gross Domestic Product (GDP) increase significantly. Moreover, more institutional investors worldwide are embracing Bitcoin as an asset class.

Consequently, cryptocurrency liquidity will gradually improve in the coming years as more countries follow El Salvador’s example.