Litecoin (LTC/USD) price halved during the summer; what next?

• Litecoin’s price halved in less than three months
• Buying the dip is risky despite a small head and shoulders pattern forming
• The dollar’s rally needs to stop for coins like Litecoin to reverse fortunes

The US dollar registered one of the biggest rallies ever during summer. For example, it gained against the EUR for eleven consecutive weeks – the first time ever! 

It wasn’t only the EUR that the dollar strengthened against. In fact, it was a broad-based dollar strength, as it squeezed everything in its way higher. 

That means cryptocurrencies, too. 

Some of the cryptocurrencies fared better than others. For example, Bitcoin still holds close to its 2023 highs, moving in a horizontal consolidation for months. 

However, some other coins did not perform so well. Litecoin (LTC/USD) is one of them, as its price halved during the summer months. It was trading at $115 in July, only to drop to $60 in less than two months. 

Such volatility is not unusual in the cryptocurrency space. But the speed of the decline (or the speed of the dollar’s strength) is so fast that it takes a lot of nerves and courage to buy such a dip. 

Litecoin chart by TradingView

LTC/USD forms a small inverse head and shoulders pattern

A head and shoulders pattern signals a reversal. When it forms during a bearish trend, it signals a potential bullish reversal. 

The head of the pattern pierced through the $60 level before bouncing. It is enough for the pattern to respect the rules, but is it enough to reverse such a powerful bearish trend seen during the summer months? 

All in all, the main conclusion after nine months into the trading year is that Litecoin couldn’t hold above $100. If it doesn’t build energy to try again, the path of least resistance remains the downside. 

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Solana (SOL) breaks above key level but can bulls take advantage?

• Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month.
• Can bulls take advantage of positive sentiment for Solana to break higher?

Solana price has reached a key technical level, with the 24-hour upside to $20.50 retesting a 10-day high that’s an area of a previous support and resistance. With nearly 4% increase in the past 24 hours, Solana is outperforming all the top ten cryptocurrencies by market cap except XRP.

Bitcoin is back below $27k after latest SEC delays of decisions on multiple spot ETF applications, including that of BlackRock. Ethereum, buoyed by news of listing of the Valkyrie ETH futures ETF to near $1,700, has bounced lower too even as whales position themselves for a likely upswing.

What’s the outlook for Solana, an altcoin with a market cap of $8.3 billion? 

SOL price: what next for bulls?

SOL price’s uptick today comes as SOL bulls plot to stay above an ascending trendline support that’s anchored at the December 2022 buffer zone around $9.60.

As can be seen on the daily chart below, Solana has bounced higher (not perfect) off the positive trendline. The price action follows this week’s breakout from the downtrend line marked by the decline from July 2023 peak of $32.40.

Solana price outlook on the daily chart. Source: TradingView

Earlier today crypto trader Bluntz highlighted the potential for an inverse Head & Shoulder pattern. The pattern’s neckline is $20.30 and the 50-day exponential moving average provides the immediate supply zone $20.22. 

Holding at or above these levels is crucial to the bulls short term plans, an outlook supported by the daily Relative Strength Index (RSI) in an upsloping view above the neutral  mark.

The flipside of the above scenario is Solana price breaking lower beyond the $18.80 demand zone. Increased sell-side liquidity in this area could push SOL to around $17.60. From here, bulls may rely on the likely support near $14.50.

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Memeinator Announced: Taking on the Meme Coin Market With a $1 Billion Vision

London, United Kingdom, September 29th, 2023, Chainwire

Having already raised $500K in less than 48 hours, Memeinator has already stormed through to stage 3 of its presale, on its relentless mission to redefine the meme coin sector.

The project’s grand vision was born from the frustration of seeing relentless false promises and overhyped coins, that were endless parodies of each other replete with nonsensical messaging. These have made investors forget much of the fun and magic that once existed in the meme coin space.

With its groundbreaking AI-driven game, blossoming community, and out-of-this-world prize offerings like a trip to space with Virgin Galactic, there’s never been a meme coin like it.

Drawing on a certain timeless ’90s action movie, Memeinator is here to right these wrongs. This revolutionary project is building a solid and dynamic community of meme coin fans from the ground up. A community who shares in its vision and are ready to bring trust back into meme coins.

The Memeinator ‘resistance’ is already off to a flying start with over 20,000 people having already joined on Twitter to follow the launch and vibrant discussions ongoing in both the Telegram and Discord communities.

To ensure the project’s credibility and security, Memeinator has been audited by Solid Proof. Solid Proof has been auditing new blockchain projects since 2020. Based in Germany – the auditor focuses on assessing project protocols, reliability, smart contracts and KYC assessments for crypto projects. This puts Memeinator alongside high-profile audits for projects including UNCX, Shopping.io and ZyberSwap.

Memeinator is available to buy now on the official website.

Tokenomics and roadmap

The MMTR Tokenomics have a total supply of 1 billion tokens, with a generous percentage allocated to community engagement for competition and marketing pools to support the presale, and a further 5% for exchange liquidity provision. The token will be deflationary, with the team enacting a burn mechanism as needed to maintain the price. Take a look at Memeinator’s whitepaper to see the full vision.

The whitepaper shows the project split into four meticulously planned phases. This will see the project move from inception in Phase 1 (team formation, blockchain and smart contract development & marketing launch) all the way to the presale completion that outlines CEX listings and the Memeinator game launch.

Within also lies an outline for a staking program and NFT launch, details of which will be announced during the course of the presale.

The final objective, stated as “Gain no.1 market cap amongst meme coins” forms an integral part of the team’s ambition: tongue-in-cheek but daring and determined. This will form a core part of the project’s branding and ethos.

Meme Warfare: A game-changer

Memeinator will launch ‘Meme Warfare’ next year. Powered by AI, this shoot-em-up game blends the chaos of battle with the absurdity of the memesphere. It allows players to step into the Memeinator’s virtual chassis to take part in humor-infused clashes as it blasts rival meme coin characters into oblivion.

The coins represented in the game will be in line with their real-world relevance. Meme Warfare’s backend “Memescanner” AI will be simultaneously scanning the Web and feeding data into the game. This adds an extra layer of engagement and realism. If a meme coin is performing poorly on the market, it’s the gamer’s job to obliterate it.

Redefining the meme coin space by going to space

Memeinator is offering the trip of a lifetime to one lucky prize winner, with a trip to space aboard Virgin Galactic. Hosted on Gleam, Memeinator is showing its competitors that it doesn’t mess around when rewarding its community.

Beyond first prize, the project will release exclusive NFTs during its presale. While details remain top secret at this stage, the NFTs serve to further strengthen and grow the community whilst providing a tangible virtual identity to this groundbreaking meme coin.

Having already raised $500K in less than 48 hours, the Memeinator presale is already on its third stage. However with the presale ongoing and less than $100K before it hits stage 4, users can still get involved and win this gargantuan prize.

About Memeinator

Memeinator is the antidote to the hundreds of throwaway meme coins that lack any legitimate utility. With its deflationary token, engaged community, expertly crafted NFT collection, and AI-powered video game, it offers real innovation instead of just hype. Its purpose is to eclipse its rival meme coins. And, on the way, deliver strong returns to its community via both trading its MMTR coin and staking.

For more information and to buy Memeinator (MMTR) visit the website.

• Website
• Whitepaper
• Socials

 

Contact

Memeinator
Memeinator team
pr@memeinator.com

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Gemini to halt services in the Netherlands due to regulatory challenges

• Regulatory compliance issues have forced Gemini to suspend Dutch operations.
• Gemini is a New York-based cryptocurrency exchange.
• Gemini’s decision follows a similar move by Binance, which also ceased its activities in the Netherlands.

Gemini, one of the leading cryptocurrency exchanges based in New York, has revealed plans to temporarily suspend its cryptocurrency services in the Netherlands.

The exchange has attributed this decision to its inability to meet the stringent regulatory requirements set by the Dutch financial authority, De Nederlandsche Bank (DNB).

In a letter addressed to its Dutch user base, Gemini urged customers to withdraw their assets or transfer them to alternative wallet addresses. The suspension of services is scheduled to take effect on November 17, 2023, in compliance with regulatory obligations imposed by the DNB.

Gemini to re-enter the Dutch market after compliance

Despite the suspension of its operations in the Netherlands, Gemini expressed its commitment to re-enter the Dutch market once it has successfully aligned its operations with the new regulatory framework governing crypto assets. The reference to compliance with the Markets in Crypto Assets (MiCA) suggests that Gemini is considering adapting to the EU-wide regulatory framework, aiming to standardize requirements for cryptocurrency companies across the European Union.

To facilitate a smooth transition for its users, Gemini recommended Bitvavo, a licensed Dutch cryptocurrency exchange that is registered with DNB. Founded in 2018, Bitvavo is a member of the Dutch Association of Bitcoin Companies, providing a compliant alternative for Dutch crypto enthusiasts.

Crypto exchanges leaving the Netherlands

Gemini’s decision follows a similar move by global cryptocurrency giant Binance, which ceased its activities in the Netherlands earlier in the summer of 2023 due to regulatory approval challenges. This highlights the increasingly complex landscape that cryptocurrency exchanges face in meeting regulatory requirements in Europe.

As of now, the Netherlands has registered 37 virtual asset providers, including prominent platforms such as eToro, Coinbase, Crypto.com, and BitPay. Coinbase was however fined $3.6 million in January 2023 for non-compliance. These providers operate within the regulatory framework established by the DNB, underscoring the significance of regulatory compliance for cryptocurrency businesses in the Dutch market.

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Bitcoin could rally towards $28k as Shiba Memu’s presale approaches $3.5m

Key takeaways

• Bitcoin is trading above the $27k level once again and could reach the $28k region soon.

• Shiba Memu’s presale is now closing in on the $3.5 million mark.

The cryptocurrency market is having a positive end to the week, with prices of most coins and tokens in the green zone. Bitcoin could be heading towards the $28k level soon as market sentiment improves.

Furthermore, Shiba Memu’s presale is now closing in on the $3.5 million milestone as more investors troop into the project.

Bitcoin could surge towards the $28k level soon

The cryptocurrency market is ending the week in a positive manner, with the prices of most coins and tokens currently up by more than 2%. Bitcoin has added more than 2% to its value in the last 24 hours. At press time, the price of Bitcoin stands at $27,094.

The positive performance comes as oil prices and US Treasury yields recorded a dip in prices, resulting in a weaker US Dollar. If the trend should continue, Bitcoin could see its price rally higher and reach the next major resistance level above $28k in the coming days. 

What is Shiba Memu?

Shiba Memu has been gaining interest from investors over the past few months thanks to its unique proposition. This Web3 project seeks to combine the powers of blockchain technology and artificial intelligence to make it easier for individuals and entities to carry out market campaigns.

In their whitepaper, the team explained that Shiba Memu can handle a wide range of marketing activities, including content creation, marketing, social media advertisement, and creative advertisement. 

Since Ahiba Memu will be AI-powered, the software can work 24/7, finding the best creative adverts, consuming them and generating superior content marketing. 

By launching as a meme token, Shiba Memu is riding the popularity wave of meme coin projects in recent years. This is strengthened by the fact that within two years, meme coins saw their market caps grow from practically $0 to $20 billion in 2022. 

Shiba Memu is differentiating itself from other meme coins by serving as more than just a speculation tool. Shiba Memu is launching with real-world use cases and would allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. 

The Shiba Memu project will be available to users on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale closes in on the $3.5m milestone

The broader crypto market is currently bullish, and Shiba Memu is not left out as its presale looks set to hit a new milestone. The presale has been going on for three months now, and the team has raised more than $3.4 million. 

The funds generated via the presale would be used to develop some of Shiba Memu’s products and services. The Shiba Memu AI technology will be the primary product of this project. 

In their whitepaper, the team said the platform would come with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

It is hard to predict Shiba Memu’s price in the medium to long term since the project is still in its presale stage. At the moment, 1 SHMU = 0.030475 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.030700 USDT per token in a few hours. 

At the beginning of the presale, SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu today?

Shiba Memu could become one of the leading meme token projects thanks to the utility it intends to offer users. By combining AI and blockchain technologies, Shiba Memu could gain massive adoption in the marketing world. 

The project is still in its early stages, making its token a discount for investors. With the right level of adoption, SHMU’s price could rally over the next few months and years.

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Chancer presale keeps momentum, but how attractive is the P2P betting platform token?

• Chancer nears presale sellout in stage 3 as amounts raised surpass $2.39 million.

• Investors are attracted to Chancer’s decentralised betting feature

• Chancer could rise by up to 10x in the future as P2P betting grows

Betting has, for a long time, been centralised. Bookmakers control the platforms and decide betting rules and odds. However, this is changing with blockchain, with the idea of giving betting control to wagers. Chancer endeavours to become the world’s first decentralised platform for bettors. Users can set betting events and create rules and odds for successful bets. The decentralisation has attracted investors, who have accumulated over $2.39 million tokens in presale.

How does Chancer work?

Chancer covers two betting mechanisms: conventional betting and social betting. Conventional betting is for known events like football, basketball, marathons, etc. It is akin to traditional betting but with a touch of blockchain.

Social betting has been the most innovative feature of Chancer. This is where users bet against their peers in uncommon or private events. Let’s look at it in a hypothetical scenario:

Assume you have a local marathon that is barely known outside your area. You don’t expect such an event to feature on your usual betting platform. But you want to bet on the event with a friend, say Marathoner A or B wins it. Both of you hold contrary opinions. 

So, you can create a secure P2P market via Chancer and bet on the outcome. The winnings are secured through the blockchain platform. You can do so for several other social events with anyone, regardless of where they are. 

With social betting, Chancer opens up endless opportunities for day-to-day occurrences. This allows Chancer to open new ways to bet and grow. Users also have fun betting on their preferred social events. 

Is Chancer attractive?

Chancer could be attractive to speculators and investors. Chancer token powers a real-world use case, betting, which has increased rapidly in the past decade. As the platform attracts users, the value of Chancer could skyrocket, benefiting the speculators. The hot-selling presale gives a glimpse of the post-listing potential for the token. 

An exciting prospect of passive income generation also makes Chancer attractive to investors. Chancer rewards users for creating custom P2P markets and sharing the platform. The features make the platform attractive beyond betting, which could fuel the demand and price for the token.

Chancer is also built by its community. Users can participate in the platform growth by allocating some of their tokens through a staking feature. Investors who stake their tokens earn yields to supplement their passive incomes. 

Stage 3 presale nears sellout, with token rising to $0.013 

Chancer opened the presale at a bargain price of $0.01, which quickly sold out. The price entered the second stage at $0.011, selling out on solid demand. In the third stage, the price of Chancer is $0.012, with investors still showing interest. The stage is almost done, which will pave the way for the next price increase to $0.013.

At the end of the presale, early investors will get more valued tokens than they bought. This means investing in the token at its earlier stage offers a better opportunity. Investors could also look at the listing roadmap, which sets the token debut on exchanges in Q3 2023. As the token is listed, the price could embark on an upward trajectory as it unlocks more demand.

What is the price potential of Chancer in 2023?

Early indications of demand suggest that Chancer could rise by strong margins after getting listed. A clear project roadmap and betting momentum give Chancer a strong price potential.

Analysts have earmarked up to a 10x increase in value after the token is listed. The prediction is realistic, although the gains could occur in the medium to long term on platform use. In 2023, investors could settle for up to three-digit percentages as speculations intensify.

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Kresus teams up with Collectibles.com as preferred crypto wallet partner

• Collectibles.com is gearing up for its much-anticipated launch.
• Collectibles.com is a Web3 collectibles marketplace that allows collectors to buy, sell, and trade assets.
• Kresus Collectibles.com partnership makes Kresus the preferred wallet solution for Collectibles.com collectibles.

In a strategic move set to reshape the world of collectibles and blockchain technology, leading app developer Kresus has announced its partnership with Collectibles.com, a Web3 collectibles marketplace that is set to launch in October.

Kresus, renowned for its secure and user-friendly crypto wallet, has been designated as the preferred crypto wallet solution by Collectibles.com. This partnership will be pivotal in Collectibles.com’s mission to revolutionize the global collectibles industry through blockchain innovation.

Collectibles.com to launch in October

Collectibles.com is slated for an October launch and is poised to become the world’s first Web3 community and marketplace tailored to collectors and their diverse interests. Collectors signing up for this platform can create a Kresus wallet during registration, providing a secure avenue for managing their digital assets.

Collectibles.com aims to establish new industry standards by offering a dynamic platform for buying, selling, and trading collectibles while fostering a sense of community among enthusiasts. It aims to provide an engaging and transparent user experience for those with a passion for sports cards, comics, or signed memorabilia.

Kresus aligns seamlessly with this vision, ensuring that user assets and transactions are handled with the utmost security and convenience.

Bridging the gap between traditional and Web3

Kresus, often dubbed a SuperApp, bridges the gap between traditional and Web3 worlds. Serving consumers and institutions, it functions as a versatile crypto wallet and a portal to the wonders of Web3. What sets it apart is its commitment to security, employing an advanced account recovery mechanism within a non-custodial framework.

Kresus grants users secure access to decentralized applications, providing a familiar interface to explore the benefits of Web3 technology. As Collectibles.com’s preferred wallet provider, Kresus is ideally positioned to introduce collectors to the exciting realm of Web3.

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Crypto price prediction: Memeainator (MMTR), Chainlink, WorldCoin

• Memeainator raised more than $300k a few days after starting its token sale.

• WorldCoin token surged as the developers increased their focus on emerging markets.

• Chainlink gained traction as demand for its tokenizatioon products rose.

Cryptocurrency prices had a strong performance this week as they defied the gravity we saw in other assets like stocks and bonds. Bitcoin price jumped to over $27,000 even as the Russell 2000 index moved to the bear market. In all, the total market cap of cryptocurrencies jumped to over $1.07 trillion. This article looks at some of the top cryptocurrencies to watch, including WorldCoin, Memeainator, and Chainlink. 

Memeainator analysis

Memeainator (MMTR) was one of the top breakout stars in the crypto industry this week. The developers launched a highly successful token sale on Wednesday, which has raised more than $391k from investors around the world. The token is going for $ 0.011 and is set to continue rising throughout the token sale. It can be bought using ETH, USDT, and USDC.

Memeainator aims to be the biggest meme coin launch this year. For one, unlike other meme coins that lack utility, Memeainator will have genuine utility. For example, the token will provide holders with access and perks when they launch new products like the Memeainator Game and MemeScanner. 

Most importantly, Memeainator will also embrace artificial intelligence (AI), the fastest-growing technology in the world. Just this week, Amazon invested $4 billion in Anthropic, a company that has built a generative AI project. Memeainator will use AI to automate its marketing with the goal of reaching as many people as possible. 

Also, Memeainator is also in the meme coin industry that has created many wealthy people in the past few years. There are countless Shiba Inu, Dogecoin, and Pepe millionaires today. You can read Memeainator white paper here and buy the token here.

WorldCoin price prediction

WorldCoin’s WLD token did well this week as it jumped to a high of $1.90, the highest level since August 10th. The token’s rally was mostly because of the overall crypto rally that we saw during the week.

WorldCoin also rallied after the developers announced plans to expand the network to the emerging markets. It has now signed up more than 2.32 million people using the Orb device, mostly in the developing and EM markets. It is also gaining some traction in some developed countries, especially Portugal, where 1% of the population has signed in,

The 4H chart shows that the WorldCoin price jumped to a high of $1.90, the highest level since August. It has moved above the 25-period and 50-period moving averages. Along the way, the coin has formed a rising wedge pattern. In price action analysis, this is one of the most bearish patterns in the market.

Therefore, there is a likelihood that the token will have a bearish breakout as sellers target the next key support at $1.60.

Chainlink price prediction

Chainlink was one of the top-performing major cryptocurrencies this week as demand for tokenization continued. The LINK token jumped to a high of $8, the highest level since July this year. At its peak, it was up by more than 40% from the lowest level this month. 

Chainlink is being supported by strong fundamentals and the 50-day and 25-day moving averages. It has also formed an ascending channel shown in black while the Relative Strength Index (RSI) has pointed downwards. Therefore, I suspect that the LINK price will retreat slightly during the weekend as investors take profits. This view could see it drop to the key support at $7.50.

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Memeinator (MMTR) reign begins with $200k presale in hours

• The Memeinator (MMTR) has stormed past $200k a day after presale launch as sub-par memes scramble.
• Targeting meme coin dominance, the Memeinator seeks to leverage blockchain and AI to seek and destroy all the weak meme coins.
• MMTR will be available on cryptocurrency exchanges and trading platforms at the end of the presale.

As the broader crypto market slowdown seen over the past few weeks continues to impact altcoins, on-chain data has shown one notable feature of memecoins – a significant drop in trader interest.

Although Dogecoin, Shiba Inu and Pepe account for the most discussion rates, it appears investor attention is shifting to new projects in this space – and few look primed for the show as is the Memeinator (MMTR).

$200k presale milestone marks start of Meme “Terminator” reign

Less than a day after its presale went live, the Memeinator has raised over $237,000 from global investors.

The first stage, which had the native MMTR token priced at $0.01, quickly sold out as meme coin hunters allocated over $200,000 to the project. MMTR’s price is now up to $0.011 in stage two of the presale, and with interest skyrocketing, could be jumping to $0.012 within no time.

In terms of tokenomics, the whitepaper details a total supply of 1 billion MMTR, 65% of which will be available to early bird gem hunters via the presale. Interestingly, the team has planned an incremental distribution of presale tokens, giving a chance to those that might miss the early stages of MMTR token sale.

What is the Memeinator?

The Memeinator is a new meme coin that descends to the dystopian world of worthless meme replicas with one mission – to seek out and destroy the weak coins ruining the market. It’s a critical mission in an industry that has over 500 meme coins, most of them useless imitations of some of the top picks such as DOGE, SHIB and PEPE. 

Leveraging blockchain and artificial intelligence, the Memeinator will bring the era of chaos to a close with judgement for every sub-par meme token. 

As it renders judgement to the smaller coins, the Memeinator will look to tap into an innovative AI-powered marketing tool to target the $1 billion market cap. The next goal will be to build momentum towards challenging meme world top coins, but that will happen once the small dogs and frogs are out of the way.

Memeinator’s roadmap to dominance

To achieve its mission, the Memeinator will seek milestones as highlighted on its roadmap. Currently, the presale is part of phase 1 of the new era that includes blockchain development and community building.

As it charts the course of its expedition, the Memenaitor’s phase 2 will involve the unleashing of the terminator via launch of MMTR on popular exchanges and DEXs. Key partnerships will be sought to add to the traction, with staking and NFTs launch to follow. 

In stage 3, the Memeinator will be ready to search and destroy weak memes through the launch of Memescanner and the Memeinator game: Warfare. These products bring real utility to the ecosystem.

Meme domination comes in stage 4 of the roadmap where the world is now rid of all the unworthy memes. The market cap of this token is forecast to have grown to $1 billion, with MMTR listing on the world’s largest crypto exchanges marking the beginning of judgement for the current market’s meme coin big fish.

Learn more by visiting the project’s website or you can join the presale here to buy Memeinator (MMTR). 

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Crypto.com to become the preferred exchange of PayPal USD (PYUSD)

TL;DR

• Crypto.com has entered into a strategic partnership with PayPal and Paxos.

• The partnership will see Crypto.com become the primary cryptocurrency exchange of PayPal’s PYUSD stablecoin.

Crypto.com partners with Paxos and PayPal

Cryptocurrency exchange Cypto.com announced in a press release on Thursday, September 28th, that it has partnered with PayPal and Paxos. The primary goal of the partnership is to make Crypto.com the preferred PayPal USD (PYUSD) exchange.

Crypto.com has already listed the PYUSD stablecoin on its platform, and it is available to both retail and institutional investors. The cryptocurrency exchange also has the deepest liquidity for PYUSD trading pairs globally.

While commenting on this latest cryptocurrency news, Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships, Crypto.com, said,

“PayPal has been a true pioneer in the digital commerce evolution, and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier. Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.”

Crypto.com and PayPal expand their partnership

This latest development comes a few weeks after PayPal announced the launch of its PYUSD stablecoin. PYUSD is an Ethereum-based stablecoin, is pegged to the US Dollar and is currently available to PayPal users in the United States.

Crypto.com added that this partnership deepens its relationship with PayPal. The two entities’ previous partnerships allowed customers to use PayPal to top up the Crypto.com Visa Card. 

PayPal has been expanding its presence in the cryptocurrency market. Earlier this month, the payment giant launched a crypto-for-USD conversion service, making it easier for its users to convert their cryptocurrencies to USD and vice versa. 

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Hedera (HBAR/USD) technical analysis as it struggles at support

• Hedera struggles at dynamic support
• If the US dollar weakens and Hedera fails to follow, it suggests internal problems
• Bulls may want to see a daily close above $0.07

Bitcoin rallied at the start of 2023 and triggered similar rallies in all corners of the cryptocurrency market. Even less known and popular projects, such as Hedera, benefited from Bitcoin’s bullish breakout. 

HBAR/USD surged from $0.04 to $0.1 in less than three months. It appeared like only the sky was the limit, but reality settled in slowly. 

Fast forward several months, and Hedera gave back all of its gains. Moreover, it is unable to bounce convincingly, as all rallies are sold. 

Currently, it sits on dynamic support and struggles to hold above. With the US dollar rallying across the board, will HBAR/USD bounce from dynamic support?

Hedera chart by TradingView

The bullish case for Hedera

Bulls have a case as long as HBAR/USD holds above the dynamic support area seen in black on the chart above. 

The daily chart also reveals strong resistance at the $0.06 – $0.07 area. A daily close above there, especially above $0.07, would reinforce the bullish case. 

For that to happen, the US dollar must turn. It rallied over the summer months, and now that September ends, it may turn. In fact, it is the only option for Hedera to make a bullish reversal, given that the dollar was in the driving seat all year. 

The bearish case for Hedera

On the flip side, a drop below dynamic support might suggest internal problems. That is particularly the case if the dollar weakens while Hedera fails to rally. 

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Heavy Competitor for Pokémon GO? A New Game, SpaceCatch, Enters the Augmented Reality Mobile Gaming Market!

The market for mobile games with augmented reality (AR) support has been dominated for several years by the well-known game Pokémon GO. 

In its time, it was a groundbreaking and unique game that attracted millions of players and created a global sensation. However, technology is advancing by leaps and bounds, and Pokémon GO no longer holds the unassailable position it once did. A brand-new mobile game, SpaceCatch, is now entering the market.

SpaceCatch, the new augmented reality mobile game

Like Pokémon GO,SpaceCatch also supports augmented reality. It is a mobile game set in the future when aliens invade planet Earth. 

However, it’s important to mention that unlike Pokémon GO, SpaceCatch fully integrates new advanced technologies such as blockchain and NFTs. These technologies may seem irrelevant to some, but the opposite is true. Thanks to blockchain and NFTs, SpaceCatch becomes a game that surpasses Pokémon GO in all aspects, along with other “traditional” Web 2.0 games.

Have you ever dreamed of earning money by playing a game? Or earning through physical activity? With SpaceCatch, it’s possible! The game implements play-to-earn and move-to-earn gaming concepts, allowing you to profit from both playing the game and your physical activity.

It’s also important to note that the game has an open in-game economy. This means that players own in-game items. In a classic game like Pokémon GO, for example, you don’t actually own anything, and the game has exclusive rights to modify, change, or delete in-game items, characters, or entire accounts. If you want to sell items or accounts in such games, perhaps due to a lack of time, your account is automatically blocked or frozen.

On the other hand, in SpaceCatch, nothing like that is prohibited. This opens up space for an entirely new category of players – so-called investment players. This group of people plays the game with the prospect of profit or investment. SpaceCatch is preparing various rare NFT items for them, which will generate passive income in various forms for their owners. Furthermore, the game redistributes earnings from various microtransactions back to the players, creating a sustainable “Web 3.0” concept.

SpaceCatch has been in active development for over a year, with its official launch expected by the end of this year. It is anticipated that this game will be a major attraction for players who favor AR games. The launch of its own gaming token, $CATCH, is currently in the works, and rare and limited NFT items are already available, which will have limited usability within the game.

You can follow their activity on the official SpaceCatch website, as well as on platforms such as Telegram, Discord, Twitter, YouTube, Instagram, Medium, or CoinMarketCap.

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Stellar (XLM/USD) fails at $0.2; attention turns to previous support

• $0.2 proves to be strong resistance for Stellar
• The US dollar’s strength is responsible for Stellar’s weakness
• Support in the triple bottom area might not hold if the market gets there

The US dollar surged during the summer, putting pressure on equities and fiat currencies. It also pressured the cryptocurrency market, as a higher dollar pressured crypto prices to their lows. 

One example is Stellar (XLM/USD). The bounce during summer to $0.2 seemed to be a reaction to a triple bottom formed earlier. However, it was just a spike in an otherwise bearish trend. 

Bearish market rallies are violent and often lead traders to believe that a sharp reversal might be in the cards. But frequently, they are nothing but spikes. 

In other words, for Stellar to keep rallying above $0.2, the dollar should give up its summer gains. 

Stellar chart by TradingView

How can the dollar turn bearish?

In several ways. 

One is that bond yields come down, and bond prices come up. The massive selloff in the bond market seen recently led to a surge in the demand for greenbacks. 

Another is a consolidation or even a reversal in crude oil prices. Oil rallied over 38% during the summer, triggering lower equity prices, which in turn translated into a strong dollar. 

Finally, the Federal Reserve. While no rate cuts are in the pipeline anytime soon, the central bank’s message is important. 

So far, the Fed prefers to be in the wait-and-see camp. Uncertainty is key, and the balance sheet keeps shrinking. 

Coming back to Stellar, the inability to break above $0.2 resistance might send the price back to support in the area where the triple bottom formed. If that is the case, support is unlikely to hold. 

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Shiba Memu resilient as Nasdaq 100, Russell 2000, bonds plunge

• American stocks continued their sell-off this week as risks rose.

• Cryptocurrencies have proven resilient despite the challenging environment.

• Shiba Memu token sale has accelerated recently. 

It has been a sea of red in the financial market this week as the fear and greed index plunged to the lowest level in months and the US dollar index (DXY) surged to $106.7. The closely watched iShares 20 Plus Year Treasury Bond ETF (TLT) has plunged to the lowest point since 2014. It has fallen by over 17% from the highest point this year.

Meanwhile, the small-cap Russell 2000 index, has moved into a correction zone by plunging by over 12% from its peak this year. Other assets like commodities have also retreated as investors remain concerned about the next action by the Federal Reserve. The Fed has committed to hike interest rates to 5.7%, raising concerns about defaults and a recession. 

Cryptocurrency prices have remained quite resilient in the past few weeks. Bitcoin has remained above $26,000 while the total market cap of all digital coins has remained above $1 trillion. Other coins like Chainlink, Tron, and Terra Luna have been relatively resilient in this period.

Shiba Memu token sale continues

Meanwhile, Shiba Memu’s token sale has continued firing on all cylinders. The developers have raised over $3.36 million in the past few weeks, making it one of the most successful token sales this year. 

Shiba Memu’s sale gained steam this week after Amazon made a $4 billion investment in Anthropic, a new company in the generative AI industry. The company has launched Claude, a new platform similar to ChatGPT that aims to become a leading player in generative AI. It can answer long and complex questions with ease.

Amazon’s investment in Anthropic is important for Shiba Memu since the project has AI features. For starters, Shiba Memu aims to become a leading player in the meme coin and AI space. As a meme coin, the project seeks to become a viable alternative to Shiba Inu, one of the biggest meme coins in the world.

As part of its strategy to create utility, Shiba Memu will incorporate artificial intelligence features in its ecosystem. Initially, these features will be about automated marketing. It will use technologies like neural language processing and regression modes in all this. You can buy Shiba Memu token here.

Is Shiba Memu a good investment?

Shiba Memu has proven quite resilient in the past few weeks as concerns in the crypto and stock market have continued. It has continued raising huge sums of money from global investors. Most of these early adapters hope that their little investment will make them Shiba Memu millionaires.

Recently, we saw a few people become Pepe millionaires. We have also seen Shiba Inu and Bonk millionaires in the past few years. Therefore, because of Shiba Memu’s popularity in the presale, there is a likelihood that it will also create many wealthy people.

However, like all assets, especially cryptocurrencies, there are always risks. Recently, we have seen many hot cryptocurrencies like Zilliqa and Hedera Hashgraph plunge. Therefore, you should have proper risk management strategy and invest funds you are comfortable to lose.

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Riot Platforms stock price analysis: Here comes the death cross

Riot Platforms (NASDAQ: RIOT) stock price continued its sell-off even as Bitcoin and other cryptocurrencies held steady. The shares plunged to a low of $8.90 on Tuesday, the lowest level since April 6th. It has retreated by more than 56% from its highest point this year, meaning it is in a deep bear zone.

Bitcoin is holding really well

Riot Platforms is a major company in the Bitcoin mining industry. The company runs some of the biggest mining rigs in the world. For example, its Rockdale facility is the biggest mining and hosting facility in North America. It has a deployed hash rate of 10.7 EH/s. 

Riot Platforms and other mining companies like Marathon Digital, Cipher Mining, and Argo Blockchain tend to do well when Bitcoin price is rising. This explains why the shares jumped to a high of over $20.6  when Bitcoin surged to the year-to-date high of $32,000.

Therefore, it is quite surprising that the Riot Platforms share price has plunged even as Bitcoin has done well in the past few weeks. Bitcoin has remained above $26,200 even as the fear and greed index has dropped to the extreme fear zone of 25. The Dow Jones, Nasdaq 100, and S&P 500 have also slipped sharply recently.

I believe that Riot Platforms and Marathon Digital are good speculative buys. For one, I believe that Bitcoin will be much higher than where it is today. Bitcoin halving is coming in 2024, which will likely push its price higher.

Further, I suspect that the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF. Besides, the leading applicants are some of the biggest companies in the industry like Blackrock, Fidelity, and WisdomTree.

Most importantly, Bitcoin has held quite well even as the Federal Reserve has hiked interest rates to the highest point in more than two decades.

Riot Platforms stock price forecast

The daily chart shows that the RIOT share price has been in a strong bearish trend in the past few months. It recently crashed below the key support at $14.45, the highest point in April this year.  The stock has dropped below the key support at $10.07, the lowest point on August 25th. 

Most importantly, the 50-day and 200-day weighted moving averages (WMA) are about to form a death cross. Therefore, the stock will likely remain underwater for a while. If this happens, the next level to watch will be at $8.

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ICC taps Near Foundation for a Web3 fan app for 2023 Cricket World Cup

• The new Cricket World Cup Web3 fan app aims at boosting Web3 adoption in sports.
• The app introduces prediction games, allowing fans to earn points for accurate match predictions.
• This partnership highlights ICC’s commitment to blockchain-based applications.

The International Cricket Council (ICC) is set to embrace the world of Web3 technology by teaming up with the Near Foundation to introduce a blockchain-powered fan engagement app for the highly anticipated 2023 Cricket World Cup in India.

The ICC’s foray into the Web3 realm began with the creation of FanCraze, a non-fungible token (NFT) platform in 2022. FanCraze allowed cricket enthusiasts to own NFTs that represented iconic moments from past ICC tournaments. This platform laid the foundation for the upcoming Web3 fan engagement app.

Innovative features for Cricket Aficionados

The new Web3 fan app promises an array of exciting features to enhance fan engagement. Fans will be able to participate in prediction games, where they make strategic selections for tournament matches.

These predictions will earn them points, reflecting the accuracy of their choices compared to the actual match outcomes. These points will contribute to leaderboards and unlock rewards, making the Cricket World Cup experience even more immersive.

Interoperability and Near Foundation’s role

The choice of Near Foundation as a partner is no accident. Near’s Blockchain Operating System offers invaluable interoperability with other blockchain networks. This seamless integration enables the Web3 fan app to interact effectively with diverse blockchain ecosystems, enhancing its utility and reach.

Beyond fan engagement, this partnership seeks to showcase the potential of blockchain technology in the world of sports.

By collaborating with one of the most popular sports on the Indian subcontinent, the ICC aims to demonstrate the real-world applications of blockchain and Web3 technology. With India’s Cricket World Cup hosting, this is a prime opportunity to illustrate the power of blockchain technology to a massive audience.

The partnership between the ICC and Near Foundation is not a short-term endeavour. It extends until December 2025, indicating a sustained commitment to explore and develop Web3 applications that enhance the cricket experience for fans around the world.

2023 Cricket World Cup timelines

The 2023 Cricket World Cup is just around the corner, commencing on October 5 and culminating with the final match on November 19. Cricket enthusiasts and tech aficionados alike can look forward to an exciting blend of sports and blockchain technology during this global sporting extravaganza.

ICC’s collaboration with the Near Foundation to introduce a Web3 fan app for the Cricket World Cup signals a significant step towards integrating blockchain technology into the realm of sports, with a focus on enriching fan engagement and showcasing the transformative potential of Web3. Cricket fans worldwide can anticipate an immersive and interactive experience during this cricketing spectacle.

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Crypto price outlook: Bitcoin, Maker, Shiba Memu

• Bitcoin (BTC) and Ether (ETH) broke higher today, trading above $26,650 and $1,620.
• Maker (MKR) hit a yearly high near $1,470 amid fresh buy pressure.
• Meanwhile, Shiba Memu has raised over $3.3 million in its presale as SHMU price jumps to $0.030025. 

Cryptocurrency’s total market cap was up 1.3% on Wednesday morning, with the top coins Bitcoin (BTC) and Ether (ETH) breaking above $26,650 and $1,620 respectively.

The uptick in crypto prices came as the industry looked past SEC’s latest delay of a spot Bitcoin ETF and Chase Bank’s ban on crypto payments for its UK customers. Digital asset prices were also ticking higher as US futures rose after Tuesday’s brutal sell-off that saw the Dow Jones Industrial Average book its biggest single-day loss since March.

Here is the price prediction for Bitcoin (BTC) and Maker (MKR), and an overview of the new crypto project Shiba Memu (SHMU).

What is Shiba Memu?

Shiba Memu is the new kid on the block in the meme coin neighbourhood. Its a new project that sits at the intersection of crypto and artificial intelligence (AI), bringing a novel approach to market traction that’s so crucial to meme coin adoption.

Unlike most meme tokens that gain traction in the community thanks to human effort, Shiba Memu looks to leverage the power of AI to create a marketing powerhouse. AI will do all the heavy duty work needed to sustain interest in the coin, and reward holders of the native token SHMU for their input and feedback.

Learn more here.

Bitcoin price prediction

Bitcoin has not moved much in the past week, down 1.6% as of writing as investor jitters suppressed buyers amid the uncertainty that gripped the market after Fed’s recent “higher for longer” interest rates outlook.

With regulation still a big talking point, analysts have predicted a potential setback for bulls before prices steadily climb with a new bull cycle. In the short term, the upcoming $3 billion options expiry on September 29 could provide fresh fuel for downward pressure. At $26,770 at the time of writing, BTC suggests new attempts at the key $28,300 zone are possible. However, a flip in sentiment in the risk asset market could mean a retest of support around $25k. The $20k area is a target for the bears.

Maker price prediction

Maker has outperformed most top altcoins in the past week, with MKR up nearly 10% in the past 24 hours. The cryptocurrency is trading above $1,450, the highest price level in a year that came after a breakout above the key horizontal resistance line of $1,250.

Bullish indicators strewn all over the MKR charts suggest an upside to above $1,600 is possible. However, an unexpected turn of events resulting in downside momentum could mean retreat to support around $1,350.

Shiba Memu price prediction: Will SHMU reach $1 in 2024?

Shiba Memu does not trade in the secondary market yet, given the token is still in presale. However, with interest in this meme coin rocketing amid a broader optimism for the AI space, it is possible the price of SHMU could skyrocket when trading goes live on major exchanges.

At the moment, investors who bought Shiba Memu at the first stage presale price of $0.011125 have watched the value rise more than 169%. This is because of SHMU token price having jumped to $0.030025 as investors have poured over $3.3 million into this promising project.

What price factors could help Shiba Memu?

Shiba Memu’s roadmap highlights Q1, 2024 for the launch of its revolutionary AI dashboard, while strategic partnerships and ecosystem development will continue in the second quarter.

In Q3, 2024, Shiba Memu will explode on global exchanges, bringing demand for SHMU to a whole new level. If the coin lives to the hype that currently surrounds it, and mirrors explosive entries into the market such as seen with Pepe (PEPE) and other coins, the fourth quarter could be a great period for SHMU holders.

A final presale price of $0.0379 suggests upside momentum amid FOMO buying ahead of crypto’s expected bull market could quickly push SHMU to the $0.05 and then $0.1 levels. That could see targets at 50 cents and the $1 come into view.

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Bitcoin Cash price prediction as the crypto betting economy expands

• Bitcoin Cash (BCH) remains resilient, trading at $231.43 from a recent low of $203.
• The BCH price surge is pegged on Bitcoin’s performance and ETF hopes.
• BCH’s technical analysis indicates a symmetrical triangle pattern, hinting at an imminent price move.

Cryptocurrency enthusiasts and investors are closely monitoring the price movements of Bitcoin Cash (BCH) as it continues to show resilience in a volatile market. Additionally, the blockchain-based social betting platform, Chancer, is making waves with its upcoming presale.

In this article, we will delve into the current state of BCH and explore the innovative features of Chancer, a revolutionary decentralized betting platform currently in its token presale phase.

Bitcoin Cash price analysis

Bitcoin Cash (BCH) has exhibited remarkable stability despite recent turmoil in the financial markets.

At press time, BCH was trading at $230.91, up 8.58% over the last 24 hours. This is a notable rebound from this month’s low of $180 and it has intrigued many investors, especially as traditional assets like stocks and bonds experience significant fluctuations.

Bitcoin Cash price chart

 

It’s essential to note that Bitcoin (BTC) plays a pivotal role in BCH’s performance. On that note, BTC has managed to maintain a price above $26,000, even as the market sentiment has shifted towards fear, with the fear and greed index plummeting to 34. The optimism surrounding the potential approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) has contributed to the buoyancy in Bitcoin’s price. If approved, this could pave the way for other cryptocurrencies, including BCH, to seek ETF applications.

However, there are looming risks in the crypto industry, with the Federal Reserve taking a hawkish stance due to stubbornly high inflation. Recent data indicates that inflation surged to 3.7% in August. Such macroeconomic factors can impact the broader cryptocurrency market, including BCH.

Bitcoin Cash price forecast

A technical analysis of BCH on the daily chart reveals an intriguing pattern: a symmetrical triangle. This pattern is characterized by two converging trend lines and typically indicates an imminent breakout or breakdown.

Currently, Bitcoin Cash (BCH) has positioned itself above both the 25-day and 50-day moving averages, which is seen as a positive sign. Additionally, it hovers around the 50% Fibonacci Retracement level, suggesting a balanced market sentiment. The Moving Average Convergence Divergence (MACD) has crossed above the neutral point, indicating bullish momentum.

In the event of a bullish breakout, the key resistance level to monitor is $240. On the flip side, the support level stands at $180. Traders and investors are closely eyeing these levels as BCH appears poised for a decisive price move.

CHANCER token offering an alternative to the likes of BCH

While BCH and BTC are common digital assets to most crypto investors, a new token namely CHANCER, is making waves as its presale hit $2,354,540.

One CHANCER token is currently going for $0.012 but is expected to rise to $0.013 in the next presale stage, which is a great proposition for those yearning to acquire the new gaming token.

How does Chancer work?

In the world of blockchain and cryptocurrency, innovation continues to drive the evolution of various industries. Chancer is an exciting project that exemplifies this spirit. This blockchain-based platform is dedicated to social betting, allowing users to create and participate in unique and imaginative bets.

Chancer encourages users to engage in social betting, where they can craft their bets and invite others to join in. This dynamic approach aims to transform traditional betting into a community-driven and interactive experience.

Chancer offers an array of betting opportunities, from predicting the winners of esports tournaments to speculating on whether a favourite band will release a new album. This diversity caters to a broad spectrum of interests, making it an inclusive platform for all.

The platform incorporates live streaming, enabling users to create bets and initiate live streams for others in the Chancer community to join. This real-time interaction enhances the overall betting experience.

Chancer operates on a decentralized and transparent blockchain, ensuring fairness and openness in all betting activities. Users can have confidence in the integrity of the platform.

Conclusion

As the cryptocurrency market remains dynamic, Bitcoin Cash (BCH) stands out with its recent price resilience. Technical analysis indicates that BCH could be on the verge of a significant price move, with $240 as a key resistance level to watch. However, macroeconomic factors, particularly the Federal Reserve’s monetary policy, introduce potential risks.

In parallel, Chancer’s innovative approach to social betting has captured the attention of the crypto community. With its focus on user engagement, diverse betting options, live streaming, and blockchain transparency, Chancer aims to revolutionize the world of betting.

Investors and enthusiasts alike are keeping a close eye on both Bitcoin Cash and Chancer, as they represent exciting opportunities and developments in the cryptocurrency space. It’s essential to conduct thorough research and stay informed to make informed decisions in this ever-evolving landscape.

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Bybit and DMCC launch $100k hackathon to fuel Web3 innovation in Dubai

• Bybit and DMCC have unveiled a $100,000 “Web3 Unleashed” hackathon.
• The hackathon focuses on AI, gaming, and blockchain security.
• The partnership aims to boost crypto adoption in Dubai and includes Bybit’s AED 500,000 investment in 15 DMCC crypto startups.

In a move set to ignite Dubai’s crypto landscape, global crypto exchange Bybit and the Dubai Multi Commodity Centre (DMCC) have joined forces to launch the “Web3 Unleashed: Crypto Innovation Challenge” hackathon.

This exciting hackathon boasts a substantial $100,000 prize pool and comes as part of their ongoing partnership to accelerate crypto adoption in Dubai.

Fostering Web3 innovation in Dubai

Bybit, which entered Dubai in 2022, and DMCC have been making waves since forming a strategic partnership in June 2023. Bybit’s commitment to the cause is evident through its contribution of AED 500,000 to 15 crypto startups within the DMCC crypto ecosystem.

Their collaboration symbolizes a milestone as Bybit takes its place as the official Ecosystem Partner for the DMCC Crypto Centre, a vibrant hub for crypto and Web3 businesses to thrive and innovate.

The Web3 Unleashed: Crypto Innovation Challenge hackathon

Scheduled for November 22, 2023, the “Web3 Unleashed: Crypto Innovation Challenge” is set to become the largest of its kind in the MENA region.

With a laser focus on artificial intelligence, gaming, and blockchain security, the hackathon aims to inspire and empower the next generation of crypto innovators.

Registration for the event was open from September 26 to October 26, 2023, welcoming projects from diverse domains, including Blockchain Infrastructure, AI, DeFi, NFTs, Metaverse, Crypto Gaming, Sustainable Blockchain Solutions, and more.

Ben Zhou, co-founder and CEO of Bybit, emphasized the significance of the hackathon in Dubai’s evolving crypto landscape, dubbing Bybit the “Crypto Ark” ready to support DMCC Crypto Centre members in realizing their dreams. This initiative is not just about financial support; it goes beyond offering mentorship and fostering an atmosphere for young talent to flourish.

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BREAKING: Binance exits Russia, sells business to CommEX

• Binance fully exits Russia with sale of business to CommEX.
• Transition will last a year, the exchange said in an announcement on Wednesday, September 27.

Binance has announced its exit from Russia, with its business sold to newly formed cryptocurrency exchange CommEX.

An announcement on Wednesday stated that the exit comes after an agreement that sees it sell “the entirety of its Russia business” to the CommEX team.

Binance fully exits Russian market

While it did not disclose any financial details, Binance noted in the announcement that the off-boarding process will last one year. 

According to Binance, its deal with CommEX is unlike others that international companies struck in the wake of Russia’s invasion of Ukraine and the launch of sanctions by EU and the US. It’s a full exit.

“Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,” the exchange wrote.

Binance, which has faced multiple regulatory hurdles including a US Department of Justice investigation around activities in Russia, has assured all customers in the country that their assets are safe.

“As we look toward the future, we recognise that operating in Russia is not compatible with Binance’s compliance strategy,” Binance’s chief compliance officer Noah Perlman said in a statement. He added:

“We remain confident in the long-term growth of the Web3 industry around the world and will focus our energy on the 100+ other countries in which we operate.”

Binance CEO Changpeng Zhao says the company will do everything to ensure a “smooth transition.”

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Nomura Bank’s Laser Digital receives approval for operations in Abu Dhabi

Key takeaways

• Laser Digital has become the latest digital asset firm to receive approval to operate in Abu Dhabi.

• The firm is owned by Japanese banking giant Nomura Bank. 

Laser Digital can now operate in Abu Dhabi

Laser Digital, the digital assets arm of Japan’s Nomura Bank, has received in-principal approval to provide broker-dealer services and asset/fund management services in Abu Dhabi.

#ADGM is proud to announce that @LaserDigital_ has received an In-Principle Approval (IPA) from the ADGM Financial Services Regulatory Authority (FSRA) for its virtual asset management services, further establishing it as a leading global hub for digital assets.… pic.twitter.com/CmvkP4wumO

— Abu Dhabi Global Market (@ADGlobalMarket) September 26, 2023

The approval was granted by the Abu Dhabi Global Market (ADGM), allowing Laser Digital to offer numerous services to users in the region. 

This latest cryptocurrency news means that Laser Digital stands a chance to receive full Financial Services Permission to operate in the region upon meeting the conditions specified in the current approval. However, the conditions to be met were not specified in the announcement.

While commenting on this latest development, Laser Digital CEO Jez Mohideen said of the ADGM said;

“Their comprehensive and clear regulatory framework is creating a global hub for digital assets that we are delighted to be joining.”

The ADGM continues to attract more companies around the world as it is an international financial free zone within Abu Dhabi, the capital of the United Arab Emirates (UAE).

The financial free zone occupies nearly 15 square kilometres across two islands and comprises a registration authority, regulatory authority and a court. 

Crypto companies continue to gain approval in Abu Dhabi

Laser Digital’s approval comes roughly three weeks after Standard Chartered-backed Zodia Markets received its approval to serve as a crypto broker in Abu Dhabi.

In June last year, Binance received in-principal approval to operate in the ADGM. the cryptocurrency exchange also received Financial Services Permission in November. Other companies that have received ADGM approval include Kraken, UAE-based M2 and Bahrain-based Rain. 

Laser Digital’s approval came after the firm received an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). The firm also launched its Bitcoin Adoption Fund last month. 

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SEC delays decision on ARK Invest Bitcoin ETF

• The SEC has delayed its decision on the ARK 21Shares Bitcoin ETF decision to early 2024.
• Also delayed is the Global X Bitcoin Trust application.
• Analysts expect the regulator to delay other proposals amid the likelihood of a US government shutdown.

The Securities and Exchange Commission (SEC) has yet again delayed a decision on the ARK 21Shares Bitcoin ETF application, pushing this to early 2024. The SEC also delayed the Global X Bitcoin Trust application to November 21.

News of the delays has elicited various reactions from the crypto industry, with many observing that the regulator will now likely delay all the other applications to next year. Bloomberg ETF analyst James Seyffart shared news of the SEC’s decision on X.

UPDATE: Wow. The SEC just came out SUPER early and delayed the @ARKInvest / @21Shares #Bitcoin ETF filing. This thing wasn't due for a decision until Nov 11.

Also delaying the @GlobalXETFs application which was due Oct 7. pic.twitter.com/7DiBq1h4Ef

— James Seyffart (@JSeyff) September 26, 2023

Other spot ETF applications could be delayed

In a filing detailing the delay, the SEC notes that it needs “sufficient time to consider the proposed rule change.”

But what’s notable about the Commission’s action is that the decision to delay has come much earlier than anticipated – this was not due until November 11. A host of other proposals, including those of BlackRock and Fidelity were due for a decision in mid-October, and the agency’s move appears to suggest they could postpone these too. 

“This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark/21 shares already, we may see delays on all the other filings today too? BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity & Valkyrie [were] all due in mid Oct,” Seyffart opined in a post on X.

A looming US government shutdown makes the likelihood of this scenario unfolding highly possible. It’s one of the things SEC Chair Gary Gensler might have to elaborate on when he appears before the House Committee on Financial Services later today.

No spot Bitcoin ETF yet

The SEC’s notice came a few hours after a group of US lawmakers urged the regulator to “immediately” allow a spot bitcoin ETF. It follows last month’s delay on all the spot bitcoin ETF proposals, and a US court’s decision quashing the regulator’s rejection of the Grayscale Investments’ application to convert its Bitcoin Trust (GBTC) fund to a spot bitcoin ETF.

As CoinJournal highlighted here, August’s decision by the US Court of Appeals for the District of Columbia Circuit granted Grayscale’s petition for a review, with the SEC ordered to reconsider Grayscale’s application.  SEC had 45 days to seek an “en banc” appeal, which puts the deadline for such a move to October 13.

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MicroStrategy’s latest BTC purchase sets Bitcoin price in motion

• Bitcoin is defending the $26k after the recent MicroStrategy’s latest BTC purchase.
• Concerns over the US dollar’s impact on BTC may be overstated by investors.
• Coinbase holds about 5% of the total bitcoin in circulation.

MicroStrategy’s recent acquisition of Bitcoin worth nearly $150 million has made waves in the cryptocurrency market, causing a notable shift in Bitcoin’s price dynamics.

The move was a demonstration of MicroStrategy, a prominent business intelligence firm led by CEO Michael Saylor, of its strong commitment to Bitcoin. The recent Bitcoin purchase sent ripples throughout the cryptocurrency world.

A boost to Bitcoin price

Before MircoStrategy’s BTC acquisition announcement, Bitcoin had briefly dipped below the $26,000 level, around which it has been hovering for a week. However, as soon as news of the purchase became public, Bitcoin price saw a significant upward movement, gaining several hundred dollars in value and hitting a daily high of $26,421.51.

In addition to MicroStrategy’s purchase, China’s Shanghai People’s Court also recently made a significant announcement recognizing Bitcoin as a distinctive digital currency, despite the country’s established ban on cryptocurrencies. This recognition has garnered attention, notably due to Justin Sun, the founder of Tron, drawing attention to the Shanghai No. 2 Intermediate People’s Court’s recent publication, which outlines key characteristics of Bitcoin.

The Shanghai court clearly distinguished Bitcoin from virtual counterparts like Q coins, emphasizing its unique attributes. These include Bitcoin’s scarcity, widespread global acceptance, and intrinsic monetary qualities. This acknowledgement represents a notable departure from China’s traditional classification of cryptocurrencies primarily as speculative investments.

The recognition by the Shanghai People’s Court marks a shift in how Bitcoin is officially perceived within the Chinese legal system. While the ban on cryptocurrencies remains in place in China, this recognition of Bitcoin’s distinct nature as a digital currency signifies a nuanced perspective on its role and significance within the broader financial landscape. It highlights the evolving discourse surrounding cryptocurrencies in China and their potential utility beyond speculation.

Bitcoin’s resilience

Despite the volatility in recent weeks, Bitcoin has shown resilience. Last week, it reached a 20-day high at $27,500, only to experience a drop to $26,400 by the end of the business week, partly influenced by the US Federal Reserve’s latest meeting.

The weekend remained relatively stable, with Bitcoin maintaining a level of around $26,600. However, Monday started on a bearish note, leading to a temporary dip below $26,000.

MicroStrategy’s announcement acted as a catalyst, helping Bitcoin recover from this low point. While MicroStrategy’s continuous accumulation of Bitcoin strengthens the company’s position as a major institutional investor in the cryptocurrency, it also underscores the growing acceptance of Bitcoin as a valuable digital asset.

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Binance partners with MUFG to issue a stablecoin in Japan by end of 2024

Key takeaways

• Binance Japan is exploring the possibility of issuing a stablecoin in Japan by the end of 2024.

• The crypto exchange is working with MUTB, a unit of Japan’s MUFG. 

Binance Japan plans to issue a stablecoin in Japan

Mitsubishi UFJ Trust and Banking Corporation (MUTB) and Binance Japan Inc (Binance Japan) are currently working together to explore the possibility of issuing a stablecoin in Japan. MUTB is a unit of Japanese bank MUFG.

This latest cryptocurrency news comes as Binance looks to strengthen its position in the region after it re-entered the Japanese market. 

The stablecoin will be pegged to fiat currencies, including the Japanese Yen and other foreign currencies.

In November 2022, Binance acquired a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan, marking its re-entry into the Japanese market. 

According to the press release, MUTB is currently leading the development of the “Progmat Coin” platform as an infrastructure for issuing stablecoins per the revised Payments Services Act enforced in June 2023.

The two entities plan to commence stablecoin operations by the end of 2024 after obtaining the necessary regulatory approvals. 

Binance Japan is now operational

This latest development comes roughly a month after Binance Japan began its operations. Binance Japan is currently offering 34 tokens, making it the largest number of tokens offered on any digital exchange in the country.

Takeshi Chino, general manager of Binance Japan, said in the statement,

“Stablecoins have important use cases across the broader financial ecosystem – from a lower-cost and instantaneous cross-border trade settlement for business clients to the facilitation of trading other cryptocurrencies seamlessly for retail investors — stablecoins fill an important financial services need and are crucial for the success of Web 3.0 adoption.” 

Tatsuya Saito, vice president of product of MUTB, added that,

“We believe that the new stablecoin from this collaboration will be a step forward in advancing Web 3.0.”

Binance Japan has indicated that it intends to offer a minimum of 100 tokens on its platform in the coming months.

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MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m

Key takeaways

• Bitcoin continues to trade below $26,500 despite MicroStrategy’s latest BTC purchase.

• Chancer’s stage two presale has now surpassed the $2.2 million mark.

The cryptocurrency market began the week in a bearish mode, with prices of most coins and tokens in the red zone over the last few days. However, that hasn’t halted Chancer’s presale as it continues to hit new milestones.

MicroStrategy purchases 5,445 bitcoins

Michael Saylor’s MicroStrategy has continued its foray into the cryptocurrency market by acquiring more bitcoins. The company announced the purchase of 5,445 bitcoins on Monday for $147.3 million at the average price of $27,053 per coin. MicroStrategy now holds 158,245 bitcoins acquired for a total of $4.68 billion.

Despite MicroStrategy’s acquisition of over 5,000 bitcoins, BTC’s price continues to underperform. At press time, the price of Bitcoin stands at $26,273, up by less than 1% in the last 24 hours. Bitcoin has lost more than 2% of its value over the last seven days. 

What does this mean for Chancer?

MicroStrategy purchasing more bitcoins could serve as an indicator that more institutional investors have faith in the crypto market despite the ongoing bearish trend. Investors could be looking to purchase more cryptocurrencies and invest in exciting projects ahead of the next bullish cycle. 

Chancer could be one of those projects thanks to its exciting prospect. The project is currently in its second presale stage and has now raised more than $2.2 million. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live-stream betting events. The project seeks to decentralise the online betting industry by using blockchain technology. 

When using Chancer, there would be no restriction to betting opportunities for users. This means that users can bet on numerous events beyond the available sports and casino bets. 

The Chancer presale is in its second stage and has raised over $2.2 million of the $2.5 million required. The funds generated from the multiple presale rounds would be used to build Chancer’s decentralised P2P betting platform. 

In their whitepaper, Chancer said its users would have access to numerous features such as betting markets in real-time and based on user interests, social media connections, and expertise. 

Users will also no longer deal with the challenges associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

With Chancer, users can bet on various activities. This means that users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.013 in the next presale stage

Chancer’s second presale stage is close to completion, and the team will move to the next phase. In this current presale stage, the CHANCER token is going for $0.012 USDT

The token price will increase to $0.013 in the third presale round. There would be 12 presale events, with an accumulated target of $15 million. 

According to the team, the CHANCER token will power numerous activities within the ecosystem. CHANCER token holders would be allowed to create and invest in markets within the ecosystem.

In addition to that, token holders can also create, participate in, and profit from their very own predictive markets. 

Interested investors can purchase the CHANCER token using numerous wallets, including Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The crypto market has been bearish in recent days, granting investors more opportunities to invest in quality projects. Investors looking to get into early-stage projects could consider Chancer, thanks to its unique niche. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the coming years. The adoption of the Chancer platform could see its CHANCER token rally higher in the medium to long term. 

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