PRESS RELEASE. Excitement is brewing in the heart of Asia as Hong Kong regulators pave the way for a new era of innovation with the recent approval of spot Bitcoin exchange-traded funds (ETFs). This groundbreaking development underscores Hong Kong’s commitment to becoming a regulated hub for Bitcoin. At the same time, the Bitcoin Conference is […]
Bitcoin News
Yala’s Strategic Roadmap Unveiled: Bring Bitcoin Liquidity Across Blockchain With a Meta-Yield Stablecoin
PRESS RELEASE. [Singapore, Mar 22, 2024] Yala, a project that enables the seamless transfer of Bitcoin liquidity through a meta yield stablecoin, is thrilled to announce a comprehensive brand upgrade. This reflects our commitment to making Bitcoin liquidity universally accessible across blockchain ecosystems, enhancing DeFi liquidity efficiency. The upgrade includes a refreshed branding message, a […]
Bitcoin News
Pepe Coin Soars Over 250% – Will March Bring More Surprises?
There are lots of surprises during the bull season. Occasionally, during a bull run, coins that have been falling or thought to be dead can rise again, and tokens with defective models can self-correct. In the instance of Pepe Coin (PEPE), which was thought to have lost value and utility but has recently gained attention and is amassing a large number, this is the situation.
With Bitcoin getting close to its peak price and the market rallying, the cryptocurrency space is a flurry of activity. Memes have particularly profited from this renaissance because of their widespread popularity and low cost, which draw in a diverse range of investors.
Pepe Coin Climbs Amid Increased Memecoin Interest
Pepe Coin has stood out in this surge of interest, coming in third place in the meme coin rankings, only behind Shiba Inu (SHIB) and Dogecoin (DOGE). This rise suggests that investors are becoming more interested.
PEPE had a very diverse trajectory and became a billion-dollar asset at periods when there was speculation of a huge trend reversal. The market cap rise of the memecoins was increasing dramatically.
The weekly and daily chart patterns, when analyzed, show consistent growth that might perhaps reach new heights. February saw the start of Pepe’s value climb, which culminated in a 200% spike in just one week.
Today, Pepe reached a top of .0000041, and registered an impressive 255% rally in the weekly timeframe. The coin’s performance was equally notable in the 24-hour timescale, with a nearly 50% gain. The weekly chart shows Pepe’s value is still above the critical resistance level, indicating that the market is confident and that there may be further rises ahead.
The bulls will regain momentum and challenge the price’s upper resistance level of .00000315 if the market pushes the price above the barrier level of .00000280. Additionally, if the bulls maintain their hold on the market, it will rise further and get ready to test its upper boundary of .00000350.
Meme Coin Profits Up
In the meantime, a scenario of note occurred when six prominent wallets made trades and sold approximately 2 trillion $PEPE coins between them. Sales for the transaction totaled about .37 million, while profits came close to an astounding million. Token exchanges of this size demonstrate the extent of market activity around $PEPE during this upswing.
Although lacking the technological sophistication of Ethereum, its merits reside in its active participation by the community and the capacity for social media to go ubiquitous.
Similar to other meme coins, Pepe Coin is subject to significant fluctuations in value due to celebrity endorsements and community sentiment. This renders it a potentially lucrative investment opportunity for individuals adept at navigating the tumultuous realm of internet meme culture.
With Pepe Coin experiencing a remarkable 250% surge, all eyes are on what March holds for this unpredictable cryptocurrency. As investors eagerly anticipate further developments, the question lingers: Will Pepe Coin continue to defy expectations and unveil more surprises in the coming month?
Featured image from Pexels, chart from TradingView.com
Dogecoin Stuck In Limbo: Will Valentine’s Day Bring Love (And Price Gains)?
Dogecoin (DOGE), the meme-driven cryptocurrency, remains confined within a narrow trading range of .075-.088 since the beginning of 2024, leaving investors grappling with its future trajectory. While activity has dwindled compared to early 2023, a significant portion of DOGE addresses remain profitable, fueling cautious optimism.
Profitable Addresses Offer Glimmer Of Hope
Approximately 60% of DOGE addresses, totaling roughly 1.34 million, currently hold their tokens at a profit, implying they bought at lower prices. This data, gathered by blockchain analytics firm IntoTheBlock, suggests underlying bullish sentiment despite declining market engagement.
Technical Support And Resistance Levels
Analysts highlight key support levels around .077-.079, where a large number of investors entered the market. This zone could act as a buying floor, preventing further price depreciation.
However, breaching this support could trigger a dip to .07, offering potential entry points for bargain-seeking investors. Conversely, overcoming the .088 resistance level could pave the way for a price climb towards .094.
Dwindling Activity Raises Concerns
A closer look at network activity paints a less rosy picture. Both transaction volume and whale activity, signifying large-scale investments, have decreased significantly, indicating reduced trading interest. This lack of enthusiasm could hamper Dogecoin’s upward momentum.
#Dogecoin is experiencing a decrease in transaction volume and whale transaction count, which typically indicates lower trading activity. This could be a sign that fewer people are buying, selling, or transferring #DOGE, possibly due to reduced interest or confidence in it! pic.twitter.com/SiKNxx4FhN
— Ali (@ali_charts) February 12, 2024
Technical analysis reveals a stalemate between the 50-day Exponential Moving Average (EMA) acting as support and a falling trendline acting as resistance. This pattern signals a lack of clear direction in the near term. Flipping the trendline to support could be a positive indicator, but achieving that requires renewed buying pressure.
Valentine’s Day Prediction Offers Modest Hope
Crypto exchange Changelly offers a moderate prediction for Valentine’s Day, forecasting a 1.12% price increase to .082591. While this could bring temporary cheer to DOGE holders, it also underlines the currency’s sensitivity to market sentiment and overall volatility.
Dogecoin: Long-Term Concerns Linger
Meanwhile, Dogecoin’s recent fall from the top 10 cryptocurrency rankings raises concerns about its long-term viability. Unlike competitors offering real-world applications, DOGE primarily relies on celebrity endorsements and internet trends. This raises questions about its ability to compete in the rapidly evolving crypto landscape.
The future of Dogecoin remains uncertain. While a short-term price rise is possible, concerns about its utility and competitive edge compared to other projects persist. Investors should approach DOGE with caution and conduct thorough research before making any investment decisions. Remember, price predictions are merely educated guesses, and the cryptocurrency market remains inherently unpredictable.
Featured image from Pexels, chart from TradingView
Payu Coin Looks To Bring Meme Coins Together In One, Ultimate Platform
PRESS RELEASE. Payu Coin ($PAYU) aims to become the premier platform bringing together meme coins on the Binance Smart Chain (BSC). Its strategic features set it apart in the competitive market which is often highly volatile and unpredictable with plenty of participants.
What Makes Payu Coin Stand Out?
Firstly, there is the efficiency of BSC. Payu Coin leverages the speed and cost-effectiveness of the Binance Smart Chain, ensuring rapid transactions and minimal fees, establishing it as a go-to platform for crypto enthusiasts.
Another standout characteristic when it comes to Payu Coin is the absence of tax deductions and transaction fees for buying and selling. This user-centric approach enhances the overall experience, making Payu Coin an advantageous choice for traders. Moreover, the platform’s extensive community presence on X, Telegram, Instagram, and TikTok not only fosters a sense of belonging but also showcases the project’s reliability and potential for future success.
Forging A Path To Success
Also, drawing inspiration from successful ventures such as $DOGE in 2020, $SHIB in 2021, $PEPE in 2022, and the ‘Bonk’ meme coins craze last year, Payu Coin aims to forge its own path to success in the financial realm throughout 2024. With a well-defined vision, Payu Coin has set specific targets going forward. The primary goal is to boost its market value to an ambitious level of .00000006048 by removing at least two zeros. Following this, the second milestone involves a targeted increase in the average price to .0000009072.
In its initial phases, Payu Coin also aims to achieve a market value ranging between million and million. This initial success is seen as a crucial stepping stone towards the coin’s overarching objective of reaching a market value of 0 million. This milestone signifies substantial growth and widespread recognition within the cryptocurrency sphere. As Payu Coin navigates its path, these strategic goals underscore its dedication to making a lasting impact in the evolving landscape of digital currencies.
Is It Safe?
One of the most crucial aspects of any crypto-oriented platform is that of security. Hacks and digital exploits of various kinds are unfortunately commonplace in this burgeoning industry, which is precisely why Payu Coin has taken the bold step of relinquishing ownership, a move designed to secure the future by preventing the creation of new Payu Coins. This commitment to stability and predictability aims to instill confidence among investors.
In addition, with 80% of its total supply permanently locked on PancakeSwap, Payu Coin actively mitigates risks associated with rugpulls, ensuring a secure environment for investors. The platform’s unwavering commitment to security is further highlighted by its 100% trust rating from independent auditing organizations such as Tokensniffer, Quick Intel, Safu, Goplus, and Certik. The completion of KYC verification further solidifies its credibility. Apart from being available on PancakeSwap, $PAYU can also be bought via the MEXC and Bitget exchanges.
What Else Does Payu Coin Offer?
Payu Coin aims to break new ground in the crypto landscape through its innovative applications and ambitious objectives. Serving as a trailblazer in the industry, Payu Coin introduces a Web3-based transfer platform that facilitates seamless cross-border transactions globally. This platform supports a range of wallets, including PayPal, Zelle, Venmo, Skrill, EnPara, and Beem. Notably, PayPayu extends its versatility by accommodating 350 different cryptocurrency wallets, providing users with the flexibility to engage in transactions with a diverse array of cryptocurrencies.
Also, PayPayu collaborates with major meme coins, enabling users to effortlessly make transfers if they hold these coins in their wallets. The innovation continues with the beta testing of the PayPayu App for mobile payment systems, aiming to become the first meme coin facilitating mobile payments and integrating cryptocurrencies into daily transactions.
Looking ahead, Payu Coin has set ambitious goals for itself, aiming to achieve over 300,000 holders and a million market cap by 2024. Plans include listings on major exchanges such as KuCoin, Bybit, Binance, and Coinbase, as well as expanding its social media community to 1 million followers and forging global collaborations with social media companies. The project has allocated a 0,000 budget for advertising and promotion in 2024.
About Payu Coin
Payu Coin emerges as a distinguished player amidst today’s ever-changing crypto landscape dominated by derivative tokens such as $PEPE, $DOGE, $FLOKI, $PITBULL, $QUACK, $HAMSTER, and $SHIBA. Having observed the transient prominence of Inu-themed tokens, Payu Coin now seeks to ascend as the definitive sovereign of the memetic coin realm.
In a deliberate departure from prevailing trends, Payu Coin has been strategically introduced without a presale, ensuring transparency and equitable distribution. With the elimination of taxes alongside the burning of the liquidity pool, $PAYU stands as a coin designed to serve the collective interests of its community, perpetually.
Headquartered in Palo Alto, California, Payu Coin holds a cryptocurrency payment and transfer license in California, with intentions to secure licenses in several other states. Beyond its financial scope, the project also ventures into game development, seeking collaborations with major gaming companies to broaden the utility and reach of Payu Coin.
Ultimately,this distinctive memecoin encapsulates an inclusive opportunity for all participants, making it a compelling choice in the vibrant landscape of memecoins. Fueled by the sheer force of memetic influence, $PAYU beckons as a guiding beacon for enthusiasts.
For more detailed information and to explore Payu Coin, please visit the official website as well as its various social media channels for regular updates.
Social Links
Certik Audit;
https://skynet.certik.com/projects/payu
Payu Twitter;
Payu Instagram;
https://www.instagram.com/payu.coin/
Payu TikTok;
https://www.tiktok.com/@payu.coin
Payu Telegram;
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Peter Schiff Expects Spot Bitcoin ETFs to Bring Speculator Sell-Off, Minimal Institutional Demand
Economist and gold bug Peter Schiff expects the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) to be a nonevent. The crypto skeptic explained that there is “really no need for a bitcoin ETF, as you can buy and store bitcoin yourself for free.” He predicted: “There will be minimal investor demand and the speculators who bought on the news will likely sell on the fact.”
Schiff Throws Cold Water on Spot Bitcoin ETF
Peter Schiff, chief economist at Euro Pacific Asset Management and founder of Schiff Gold, expressed his view on the expected approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in a series of posts on social media platform X this week. The first deadline this year for the SEC to approve a spot bitcoin ETF is Jan. 10 for a joint proposal from Cathie Wood’s Ark Invest and 21shares.
“Be careful what you wish for,” Schiff wrote on X Tuesday. “The promise of a U.S.-listed spot bitcoin ETF has been supporting the bitcoin price and speculative demand for years. Once the ETFs are launched and the highly anticipated institutional and other new investor demand does not show up, look out below!” The gold bug added:
There is really no need for a bitcoin ETF, as you can buy and store bitcoin yourself for free. What’s the point of owning it in an ETF anyway?
Following a 7% plunge in bitcoin’s price fueled by a rumor that the SEC will continue to reject spot bitcoin ETF applications this month, Schiff doubled down with another post on X Wednesday. “As I warned, it’s likely that the bitcoin ETF will not be a ‘buy the rumor, sell the news’ event, but a ‘buy the rumor, sell the rumor of the news’ event. Those who wait for the actual news to sell their bitcoin may discover that there are very few speculators left to buy!” he cautioned.
Schiff does not expect institutional investors to flock to spot bitcoin ETFs. Sharing his predictions on Dec. 20, the economist wrote:
The introduction of a spot bitcoin ETF will prove to be a non event. It will be historically insignificant. There will be minimal investor demand and the speculators who bought on the news will likely sell on the fact.
Meanwhile, many people believe spot bitcoin ETF approvals by the SEC will boost the price of bitcoin. Vaneck’s director of digital assets strategy said people tend to underestimate the long-term impact of spot bitcoin ETFs. Ark Invest CEO Cathie Wood expects a significant boost in the price of BTC, and Galaxy Digital CEO Mike Novogratz believes the price will climb considerably. Moreover, venture capitalist Tim Draper has doubled down on his 0,000 prediction for bitcoin this year.
What do you think about Peter Schiff’s spot bitcoin ETF predictions? Let us know in the comments section below.
Bitcoin Spot ETF Will Bring $70 Billion In New Money To Trigger Price Rally – Glassnode
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally.
Bitcoin Spot ETF Set To Ignite New Inflows
Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about .5 billion flowing into Bitcoin from increased demand from institutional investors.
Glassnode bases its analysis on the assumption that substantial portions of capital invested in the stocks, bonds, and gold market might shift toward Bitcoin investments. The blockchain analytics firm has stated that this influx of new capital could have a huge effect on the Bitcoin market, potentially driving its price to greater levels.
“Based on these assumptions, we estimate approximately .6 billion could flow into Bitcoin from the combined stock and bond ETFs, and about .9 billion from the gold market, totaling around .5 billion in potential new capital influx,” Glassnode stated.
It added:
“This significant infusion of new capital could have a considerable impact on Bitcoin’s market, potentially driving up its price as it gains broader acceptance and becomes integrated into more traditional investment portfolios.”
Bitcoin Futures And Altcoins Soar On BTC ETF Hype
Glassnode has extended its analysis to examine how Spot Bitcoin ETF applications are influencing Chicago Mercantile Exchange (CME) Bitcoin futures and various altcoins.
The blockchain analytics firm has stated that the recent crypto market recovery has been driven by the surrounding anticipation of Spot Bitcoin ETF potential approval by the United States Securities and Exchange Commission (SEC).
“The market’s upward trajectory was largely driven by the anticipation of Spot BTC ETF approvals, with market movements significantly influenced by updates on filings from major financial entities like Invesco and BlackRock,” Glassnode stated.
The on-chain analysis firm revealed that the growing optimism in Spot Bitcoin ETFs has caused a notable increase in Bitcoin futures on CME. According to the blockchain intelligence provider, CME Bitcoin futures rose to an all-time high of 27.8%, exceeding Binance for the first time since the start of the crypto bear market.
Various other altcoins like Ethereum and Solana also experienced staggering price increases. Solana surged by 79.05%, and Ethereum’s price is presently above the 00 mark.
The most notable increase caused by the ongoing hype on Spot Bitcoin ETFs was seen in Bitcoin. BTC surged above ,000 as the optimism of regulator approvals for the first Spot Bitcoin ETF spread.
Additionally, institutional engagement in open interest in Bitcoin call options also rose by .3 billion, marking an 80% increase to surpass .7 billion. These recent spikes in investor demand and crypto prices have signaled a potential bullish trajectory for the maturing crypto market.
Featured image from Pexels
Dogecoin Jumps 10%, But This Signal Could Bring Rally To A Stop
Dogecoin has seen a rise of about 10% during the past day, but longs are piling up on the futures market, which may be something to keep an eye on.
Dogecoin Funding Rate Attains Highly Positive Values After Rally
As explained by the on-chain analytics firm Santiment, DOGE traders are betting on the price rise to continue as long positions are being opened on the futures market.
The indicator of interest here is the “Binance funding rate,” which keeps track of the periodic fee that Dogecoin futures contract holders on Binance are exchanging with each other right now.
When the value of this metric is positive, it means the long investors are paying a premium to the short ones in order to hold onto their current positions. Such a trend implies the majority of the market holds a bullish sentiment.
On the other hand, negative values imply a bearish mentality is the dominant force in the sector as the DOGE short traders are outweighing the longs at the moment.
Now, here is a chart that shows the trend in the Dogecoin Binance funding rate over the past month:
As displayed in the above graph, the Dogecoin funding rate on Binance has turned highly positive recently as the latest rise in the meme coin’s price has taken place.
This implies that speculators have jumped onto the opportunity and are betting on the price rise to continue. Since the longs have started piling up in this latest futures mania, the asset has only continued to trend up, suggesting that the bets of these traders have paid off so far.
However, if history is anything to go by, the market being heavily long dominated has generally not ended well for DOGE. From the chart, it’s visible that similar spikes in the Binance funding rate coincided with local tops in the cryptocurrency during the last few weeks.
The reason why such a pattern may exist is that as the futures market accumulates long positions, the chances of a long squeeze taking place become significant.
A “squeeze” refers to an event where a sudden swing in the price unleashes a cascade of liquidations on the sector. This cascade of liquidations only makes the swing sharper, thus extending the rally/crash (depending on which side of the market is taking the brunt).
When longs are much more in number, such a waterfall of liquidations is naturally easier on their side as compared to the shorts. Thus, while Dogecoin is riding on some sharp momentum right now, any pullback might result in a long squeeze, which could lead to the asset registering a notable drawdown.
DOGE Price
Following the latest rally, Dogecoin has surged towards the .087 level for the first time since April.
Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court
In a recent speech at the DC Fintech Week conference, Ripple CEO Brad Garlinghouse addressed the company’s regulatory hurdles. He expressed his views on the cryptocurrency landscape in the United States.
Ripple CEO Warns Of US Risking Market Share Loss
According to a Fortune Magazine report, Garlinghouse acknowledged during his speech that despite Ripple’s success in court against the SEC, some US banks must be more cautious about engaging meaningfully with cryptocurrencies.
Garlinghouse attributed this reluctance to the perception that the US government and the Office of the Comptroller of the Currency (OCC) are “hostile to the crypto industry.”
While Ripple’s court victory in July was seen as a positive development, Garlinghouse believes that the SEC’s overall approach, coupled with Chairman Gary Gensler’s characterization of crypto as the “Wild West,” is hindering the industry’s growth in the US.
Garlinghouse emphasized that while the US has hostility towards crypto, other countries actively welcome crypto companies and investments by providing clear regulatory policies.
As a result, the US risks losing its market share and failing to capitalize on its early advantage in the crypto space. Garlinghouse expressed his belief that the US can still become a leader in the industry but highlighted the urgency for clear and constructive regulatory frameworks to be established.
CEO Vows To Escalate Legal Battle With SEC To Supreme Court
Given the challenges faced in the US, Garlinghouse announced that Ripple would continue to expand its operations in other countries. He revealed that 80% of Ripple’s hiring in the current year will be conducted outside of the US, reflecting the company’s need to operate in more favorable regulatory environments.
Garlinghouse emphasized the importance of creating a hospitable environment for innovation and growth, suggesting that the current hostility in the US hinders Ripple’s ability to operate effectively within the country.
During the conference, Garlinghouse expressed his willingness to escalate Ripple’s legal battle with the SEC to the Supreme Court.
Garlinghouse stated that Ripple is prepared to pursue legal avenues until a resolution is reached. This firm stance underscores Ripple’s commitment to addressing regulatory uncertainties surrounding XRP.
Brad Garlinghouse’s remarks at the DC Fintech Week conference shed light on the ongoing regulatory challenges faced by Ripple and the wider cryptocurrency industry in the United States.
Despite recent court victories, Ripple encounters obstacles due to perceived hostility and a lack of clear policy guidance. Garlinghouse’s readiness to escalate the legal battle to the Supreme Court demonstrates Ripple’s determination to seek a resolution and establish a constructive regulatory framework.
As Ripple expands its operations globally, the hope remains that the US will adopt more welcoming and supportive regulations to foster innovation and maintain its competitive edge in the evolving cryptocurrency landscape.
As of the current market update, XRP is trading at .6902, indicating sideways price movement over the past 24 hours. However, in the fourteen-day timeframe, the token has experienced a notable gain of 13%.
Featured image from Shutterstock, chart from TradingView.com
Buenos Aires to Bring Blockchain-Based Digital ID to Millions of Citizens
The city of Buenos Aires has announced that it will roll out a blockchain-based, privacy-focused digital ID wallet starting in October. The Quarkid project, previously known as Tangoid, will allow its users to download a “self-sovereign” wallet to hold their birth and marriage certificates, with more digital documents to be added later this year.
Buenos Aires to Roll Out Blockchain-Based ID Program
The City of Buenos Aires government announced the deployment of a digital, blockchain-based “self-sovereign” ID project for its citizens. The wallet, called Quarkid, formerly known as Tangoid and scheduled to be operating by last January, will supposedly allow its users to exert full ownership of their data, granting only trusted and permissioned third parties access.
The Quarkid wallet will use Zksync Era, a zero-knowledge (ZK) Ethereum L2 (Layer 2) protocol, as its base, allowing the use of this kind of mathematical proof for privacy and confidentiality purposes. Quarkid was co-created by Extrimian, an Argentine institutionally focused blockchain services company, which aims to extend this service to the whole country.
On the significance of this move, Extrimian CEO Guillermo Villanueva stated:
This is a monumental step towards a safer and more efficient future for government services in Latin America. Quarkid creates a closer relationship between a government and its citizens while also bringing digital identity practices and security standards to Latin America.
Document Availability and Future
The first phase of the rollout of Quarkid will start in October, with the government of Buenos Aires allowing citizens to claim basic documents, including birth and marriage certificates. However, later this year, in November, citizens of Buenos Aires will be able to claim documents like proof-of-income and academic verification using their Quarkid wallets. At the end of this year, the government will design a roadmap to expand its services to more than 2.5 million citizens.
Diego Fernandez, Secretary of Innovation of Buenos Aires and one of the supporters behind the idea of digital identity, explained that with this innovation, the city would “set the standard for how other countries in the region should use blockchain technology for the benefit of their people.”
Furthermore, Quarkid hopes to extend its implementation to all 45 million citizens in Argentina eventually. From there, it aims to use this experience as a launchpad for a potential collaboration with the market in Latin America.
What do you think about Quarkid and the adoption of digital identity in Buenos Aires? Tell us in the comments section below.