The post Alert! Meme Coin Pump and Dump? Insiders Earn $4M, Trader Loses $1M appeared first on Coinpedia Fintech News

In the volatile world of cryptocurrencies, some believe meme coins are the best way to make easy money. Today on August 9, 2024, an on-chain analytic firm Lookonchain shared a post on X (previously Twitter) revealing that five insider wallets have made over $4 million from a newly created meme coin. Meanwhile, another trader lost nearly $1 million at the same time in the same token as its price crash.

Five insiders made $4 million with new meme coin

According to lookonchain, these five insiders created a new wallet following the launch of this new meme coin and withdrew funds from Coinbase and Bybit.

5 Insider Wallets Earned Over $4M on $RTR in Just 6 Hours!$RTR is a new #MEMEcoin created 6 hours ago.5 wallets spent ~5,580 $SOL($882K) to buy 104.64M $RTR the first time $RTR opened trading, and sold 92.77M $RTR for 31,994 $SOL($5.05M), making 26,414 $SOL($4.17M).These 5… pic.twitter.com/oAEZFeYE39

— Lookonchain (@lookonchain) August 8, 2024

After creating the wallets, these insiders spent 5,580 Solana (SOL) worth $882,000 to buy 104.64 million RTR meme coins in open trading. They then sold 92.77 million RTR coins for 31,994 SOL worth $5.05 million. In a short period, these five insider wallets made over $4.17 million.

Pump and dump in a new meme coin?

Whereas, another trader in FOMO lost 5,687 SOL worth $898,500 in the same meme coin in just 4 hours, as shared by Lookonchain. According to the report, this trader spent 5,800 SOL worth $916,400 to buy 7.2 million RTR meme coins at the highest price and sold them all for just 113.3 SOL worth $18,000, as the price crashed. This resulted in a loss of nearly $898,500.

Please don't #FOMO buy #MEMEcoins!This guy lost 5,687 $SOL($898.5K) on $RTR in just 4 hours!He spent 5,800 $SOL($916.4K) to buy 7.2M $RTR at the highest price point due to #FOMO, and sold all for only 113.3 $SOL($18K) after the price crashed, losing $SOL($898.5K)!… pic.twitter.com/d5j4l3KgqS

— Lookonchain (@lookonchain) August 8, 2024

It looks like these insiders pumped the price of meme tokens, and once traders began participating they dumped all the tokens they had bought in open trading at a higher price. 

More likely, there is a high possibility that this meme coin was created solely for the pump and dump scheme. While lookonchain does not mention this in his posts, the current situation suggests it resembles a typical pump-and-dump case. 

Traders attention, please

Investors and traders need to understand that meme coins are not an easy way to make money in the crypto industry. There are many blue-chip cryptocurrencies are there with high market cap such as Bitcoin (BTC), Ethereum (ETH), and  Solana (SOL). Make sure to invest only in top cryptocurrencies or in projects where institutions or whales like Micheal Syalor, Arthur Hayes, or Justin Sun are involved. 

The post Hamster Kombat Signals about Massive Airdrop ; Game Receives New Updates appeared first on Coinpedia Fintech News

Hamster Kombat has finally updated the Airdrop section in their tap to earn telegram app. The Hamster community has been waiting to know the date of airdrop for a very long time. Does this update mean we are close to see the promised biggest airdrop of all times, let’s explore.

New Updates inside application

In the airdrop option, Hamster Kombat has added a section called “Points”. They have shown a lot of criteria that are integral parts of the airdrop. In an X post, the team has talked about this update. According to them, the list of items that appear in the points sections will play a vital role in the token distribution.

Source : X Hamster Kombat Token Distribution 

From what we can see in this new section, every task users perform in the game will convert into points. However, instead of points, the options only shows “TBA” (To Be Announced). According to the update, every item will play a vital role in deciding how much airdrop every player will get. 

Source : Hamster Kombat Game

As of now, there are only six items in airdrop, these are Passive Income – Profit per hour, Earn tasks – daily collection and watching Hamster’s YouTube videos, Friends-Your referral list, Achievements, telegram subscription and Keys that can be collected by playing minigames from the playground as well as solving daily puzzles. As per the announcement, more options will be added to this list soon.

Source : Hamster Kombat Game Buzz in the community

This latest update has caused huge buzz in the community and everyone is waiting for the announcement of the airdrop date. However, there is another group of Hamster players who are worried about the referral part. A lot of people in X have posted their concerns regarding this. According to them, if referrals play a role in determining the airdrop, influencers creating content for Hamster Kombat will take a major portion of it. There has been no response from the Hamster team for this question as of now.

Looking Ahead

A few days ago, Binance added $HMSTR on their website. This made the community think if the token generation event for this Hamster game is right around the corner, however people are still waiting for any update. The latest update inside the game has raised their hopes once again. Team is not providing any information about the TGE or the Airdrop. The only thing players can do right now is improve their passive income in the game and perform daily tasks.

Also Read : TonCoin Listed on Binance ; Claims 8th Position on CoinMarketCap!

The post TonCoin Listed on Binance ; Claims 8th Position on CoinMarketCap! appeared first on Coinpedia Fintech News

TONCOIN has finally been listed on the largest crypto exchange Binance today at UTC 10. With this announcement hitting the internet, TonCoin surged by 14%. This is one of the most awaited listings. This will bring huge volume for Binance and will serve the asset to new pairs of eyes.

Binance Announcement

Binance made this post from their official X handle just 4 hours before the listing of TonCoin. This caused a huge buzz in the crypto community. Crypto enthusiasts appreciated and welcomed this listing. This is the second big news for this crypto after its partnership with Trust wallet around 10 days ago.

Source : X The Listing

At UTC 10, Binance listed TonCoin. As of now, only deposits are available and withdrawals will be open tomorrow. Users can deposit a minimun of 0.00000001 Ton. Deposits are only available via Ton network and require the users to enter Tonmemo. Users must use “Tonmemo” when depositing Ton to their Binance wallet.

Ton is listed in the pairs of BTC,USDT,FDUSD and TRY for spot trading and for Perpetual Futures, it is only available with the pair of USDT.

Source : Binance Marketplace

Right after the announcement of this listing, Ton witnessed a huge surge in accumulation. The trading volume has increased by 230% and its market cap is up by 15.32%. This asset was trading at around $2 in February and now it is at $6.19. 

Source : TradingView What to Expect

According to experts, TonCoin is on the path to become a huge crypto. It has already claimed position 8 on coinmarketcap and after its listing on Binance, more and more crypto exchanges will try to enlist it. Ton is now available to a vast 10 Million active users of Binance. All the hard work of the Ton team is paying off and soon this token will cross the $10 mark.

The post PEPE Price Could Surge 50%, Key Factors to Watch appeared first on Coinpedia Fintech News

On August 8, 2024, the overall cryptocurrency market is looking bullish, as top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have experienced a massive upside rally. Amid this uptrend, Pepe (PEPE) the world’s third biggest meme coin is gaining significant attention from the crypto community as its chart looks super bullish. 

PEPE’s bullish chart 

Additionally, PEPE’s bullish chart is also being shared by crypto experts. Recently, a prominent trader made a post on X (Previously Twitter) noting that back in April 2024, PEPE experienced a remarkable upside rally following the breakout of a consolidation zone after its price decline. A similar kind of consolidation has been observed in PEPE’s chart after the recent decline.

Bottoms take time to form.Look at $PEPE back in April before the incredible run to an all-time high, and see it took several days to form a proper bottom before starting to rise.In moments like this, it's important not to be shaken out and to hold on until the next pump! pic.twitter.com/jEFz3j2dvg

— Sjuul | AltCryptoGems (@AltCryptoGems) August 7, 2024

He noted that we may see a similar kind of rally once this consolidation area breaks. 

PEPE price performance

At press time, PEPE is trading near $0.0000081 and has experienced a price surge of over 7% in the last 24 hours. Despite this impressive price surge, PEPE’s trading volume declined by 11% during the same period. This decline in trading volume might indicate fear and lower participation from traders.

As of now, PEPE’s open interest (OI) is increasing. In the last 4-hours, its OI has increased by 8%, and over the last 24 hours, it is up by 3%, according to an on-chain analytic firm CoinGlass. 

PEPE price prediction 

According to expert technical analysis, PEPE is at a crucial resistance level of $0.0000084, near the 200 Exponential Moving Average (EMA) on a daily time frame. Additionally, it has been consolidating within a tight range for four consecutive days, between $0.0000069 and $0.00000822 levels. 

Source: Trading View

If PEPE gives a breakout of both the consolidation zone and the resistance level, there is a high chance it could soar 50% to the $0.0000126 level or even higher in the coming days.

Currently, most cryptocurrencies are experiencing major breakouts and have seen remarkable upside moves since the market crash. However, PEPE remains in a consolidation zone, which is a positive sign for a potential upcoming rally. 

Major liquidation level

As of now, the PEPE’s major consolidation zone is at near $0.0000077 on the lower side and $0.00000848 on the upper side.

If it gives a breakout and soars to the $0.00000848 level, nearly $860K worth of short positions will be liquidated. Conversely, if PEPE’s price falls below the $0.0000077 level, nearly $5 million of long positions will be liquidated. This higher leverage on the long side indicates that bulls are controlling the situation, while the short seller looks exhausted. 

The post XRP Price Surges 20% – Best Cryptos to Buy as Market Recovers appeared first on Coinpedia Fintech News

XRP is surging ahead amid a victory in its near four-year lawsuit. Traders now have regulatory certainty on XRP and other crypto assets, laying the way for increased liquidity inflows.

XRP Soars on “Big Win For Ripple”

Ripple Labs, the company behind XRP, has won its lawsuit.

After a lengthy legal battle with the United States Securities and Exchange Commission (SEC), the court slashed the regulators’ demand by 94%.

In the lawsuit, Judge Torres ruled that Ripple Labs must pay $125 million in civil penalties, a fraction of the $2 billion the SEC demanded.

Pro-XRP lawyer Jeremy Hogan regards this as a “big win for Ripple.”

IT'S OVER! The SEC v Ripple case has been quite a journey – thanks for sharing it with me.$125 Million penalty and a GENERIC injunction Order.This is a BIG win for Ripple, no doubt about it. Have a Wonderful Day! https://t.co/hCZZYsMl7E pic.twitter.com/7uuuwsx0Dw

— Jeremy Hogan (@attorneyjeremy1) August 7, 2024

Judge Torres also ruled XRP as not security in 2023, which, combined with the recent verdict, paints a vivid picture of the regulatory landscape for crypto assets.

Regardless of your opinion on $XRP…It never gets old watching @GaryGensler & SEC lose another crypto case.•Ripple forced to pay $125M instead of $2B•Judge rules that XRP is not a security pic.twitter.com/CMLmwBQINl

— Luke Martin (@VentureCoinist) August 7, 2024

Liquidity immediately began flowing into XRP, which is trading at $0.61. It is up 18% today, at breakeven this week, and up 40% this month.

XRP has a $34 billion market cap and a $5.4 billion 24-hour trading volume, up 267% today.

Now that XRP has regulatory certainty, it has a better chance of gaining traction with its use case: becoming the cross-border payment solution for banks and institutions.

This is happening as the broader crypto market recovers after a flash crash in August.

As such, everything is lining up for big gains across the board.

Let’s explore five other cryptos to buy now.

Pepe Unchained

Pepe Unchained blends the high-octane allure of meme coins with the cutting-edge utility of an Ethereum layer 2.

The project is also in its presale, allowing investors to buy in early.

It’s building a home for meme coins, with the spirit of the iconic Pepe the Frog meme at its heart.

The chain promises lower fees and 100x faster speeds than the Ethereum main network. Moreover, investors can stake their tokens and generate much bigger rewards.

Staking is live and currently provides a 254% APY. Comparatively, Ethereum staking offers a 7% APY.

The Pepe Unchained presale is ongoing and has raised over $7.6 million so far. That signals strong community support and hints at price gains once it launches on exchanges.

Traders can buy $PEPU for $0.0089461, but this price will increase throughout the presale. The next uptick is in one day.

Solana

Investors have been going crazy for Solana recently. This all comes down to its price performance against Ethereum. 

While Ethereum has lost 23% of its value in the past week, Solana is down just 8%.

Investors deem this a show of strength on Solana’s part, which they think could be a sign of things to come.

Solana has also shown strength against BNB coin, recently overtaking it to become the fourth-most valuable cryptocurrency (third excluding USDT).

As such, analyst Lord Crypto speculates that Solana will hit $1K and calls this cycle a “bull run for Solana.”

First it was $SOL flipping $BNB to claim a spot in the top 4 crypto tokens by marketcap.Now $SOL hit a new ATH on the $SOL/$ETH pair for the first time since March 2024.If you had any doubts about this cycle being a bullrun for @Solana, debunk it and get onboard.Clearly… pic.twitter.com/Ev6fdgQ4SH

— Lord Crypto (@lordcrypto__) August 8, 2024

Currently, SOL is trading at $153.79. It’s up 0.5% today, down 8% this week, and up 8% this month. It holds a $71 billion market cap and a $5.2 billion 24-hour trading volume, down 4.8%.

Base Dawgz

While traders debate which layer 1 coin to invest in, a new meme coin is emerging and uniting everyone.

Base Dawgz is a multichain meme coin available on Solana, Ethereum, BSC, Base, and Avalanche.

No matter if you’re a SOL or ETH maxi, you can invest in Base Dawgz.

The meme coin sector is valued at $40 billion, and Base Dawgz has exposure to all the top on-chain markets.

But that’s not all.

It also boasts a staking mechanism and a refer-and-earn scheme, rewarding community members while adding to the project’s long-term potential.

There’s much to be excited about, and right now, investors can buy $DAWGZ at presale. It has raised $2.8 million so far.

The current Base Dawgz presale price is $0.007414, but this will rise in four days.

Pepe

Pepe is the iconic Ethereum-based joke token that kickstarted the meme coin mania in 2023.

Now, Pepe is the third most valuable meme coin, sitting behind Dogecoin and Shiba Inu.

With a 600% gain in the past year, it has significantly outperformed its two more established counterparts.

Per CoinGecko data, Dogecoin is up 36% this year, and Shiba Inu is up 48%.

Evidently, the market favors Pepe, and as prices recover, its momentum will only get stronger.

Traders’ fascination with Pepe is also reflected by its trading volume to market cap ratio.

It holds a $3.3 billion market cap and a $913 million 24-hour trading volume. Such high trading volume compared to its market cap indicates a lot of interest.

Currently, Pepe is trading at $0.000007849, down 3.7% today, 25% this week, and 13% this month.

Given it has been a strong performer this year, its current discount could be a solid buying opportunity for traders.

Helium

Regarding strong performers, Helium is leading the way this week with a 7% rally. 

While not much, this makes it the best-performing top 100 crypto.

Given the macroeconomic jitters at the start of the week, its 7% week-on-week increase is impressive.

Helium is a DePIN cryptocurrency offering a wireless infrastructure network that provides internet connectivity. 

The project has recently made some exciting developments, like partnering with T-Mobile and upgrading its network scalability with the Solana blockchain.

And because HNT is a Solana ecosystem token, it will likely continue to rise should SOL keep showing strength.

Currently, HNT is trading at $5.07, up 2% today, 7.5% this week, and 61% this month.

It holds a $815 million market cap and a $14 million 24-hour trading volume.

The post Trending Multichain Meme Coin Base Dawgz Raises $2.8M in ICO – Is This the Next Shiba Inu? appeared first on Coinpedia Fintech News

Meme coins are thriving, and Base Dawgz ($DAWGZ) is setting the pace as its presale raises $2.8 million. 

But with several distinct advantages over other projects, $DAWGZ’s early success may be a glimpse of things to come.

Shiba Inu is trading downwards against new memes – will Base Dawgz steal its throne?

If there’s one thing that traders have made clear this cycle, it’s that they prefer new meme coins.

Unlike the last cycle, traders will happily rotate from meme to meme, hoping to catch the pumps and avoid the dumps.

As such, we’re seeing a lot of new meme coins enter the market and absolutely skyrocket.

Indeed, Dogwifhat, Pepe, and Bonk are some of the first to come to mind.

But others, like Dog (Runes), Brett, Popcat, and Neiro Ethereum, have also provided huge gains.

And check this:

At the same time, legacy meme coins have heavily underperformed.

If you invested $10K in Pepe one year ago, you’d now be sitting on over $70K.

And if you put it in Dogwifhat at the beginning of 2024, it would be worth $100K.

But that same $10K invested in Shiba Inu would be worth just $14K.

Evidently, the market favours meme coins that bring something fresh.

And right now, according to Etherescan, Shiba Inu has over 1.4 million holders. 

Many are likely disgruntled about missing such massive meme coin gains on newer projects.

This is where Base Dawgz comes in.

It’s a Shiba Inu-themed meme coin with unique innovations unlike anything else on the market.

Combining the iconic Shiba Inu meme with cutting-edge blockchain technology, the project is brewing a storm.

Base Dawgz: the chain hopping dog with staking and refer-and-earn

Shiba Inu has over 1.4 million holders on Ethereum alone. 

And the meme coins that have outperformed it this year have also been tethered to a single blockchain.

But that’s not the case for Base Dawgz.

This new meme coin has harnessed multichain technology to launch on Ethereum, Base, Solana, BSC, and Avalanche.

That’s five of crypto’s hottest smart contract-enabled blockchains.

Bridging the gap between the often ideologically fragmented blockchain communities, Base Dawgz hopes to unify the crypto industry under one light-hearted meme coin banner.

Picture this: the massive Ethereum, Solana, and Base communities unite.

Imagine the parabolic gains that would follow. 

It’s unlike anything we’ve seen before, but that’s not the only reason Base Dawgz stands out.

Launching on multiple blockchains is a clear attempt to grow the community, and the team is building on this with huge rewards.

It’s taking a two-pronged approach.

First off is staking. Holders can lock their tokens up in the project’s smart contract to generate passive income.

Currently, staking provides a 934% APY, but this will decrease over time.

Also, the team has launched a “refer-and-earn” scheme, enabling community members to generate points by referring others to the presale.

These points make them eligible for an airdrop at the end of the presale. The more they earn, the more $DAWGZ they can receive.

All of this has drawn massive attention from traders.

ClayBro says the project “will make millionaires.”

In addition to praising Base Dawgz’s utility, he also nodded to its current low price.

“The largest of gains are always seen in the smallest of market caps,” he said.

Meme coins are stealing the show as crypto prices recover

Asset prices have started recovering after a flash crash affecting global financial markets on Monday.

Crypto has been no different and is now back on the up, with market leader Bitcoin above $57K after touching lows of $49K.

But it’s meme coins that everyone is talking about.

Brett headed the top gainers on Tuesday with a 45% pump, then it was Dogwifhat and Popcat yesterday, booking 20% and 30% increases.

Today, it’s XRP leading the way, but it’s closely followed by Popcat, which is up 10%.

Like it or not, meme coins continue to outperform the market average.

there couldn't be an easier bet – memes will outperform everythingtardfi bid majors, btc, eth, solct and normies jump the risk curve straight into memes gcr handing you free lunch, don't let your ego get in the way pic.twitter.com/3SLTE5s3FA

— pepeXBT (@pepeXBT) July 22, 2024

And right now, Base Dawgz is powering through its presale, signalling this could be next to explode.

But as the presale advances, the price will go up.

The next increase will occur in four days.

So don’t miss out. Follow Base Dawgz on X or join its Telegram for the latest news. Alternatively, visit its website to buy and stake tokens.

Visit Base Dawgz Presale

The post Putin Signs the Law : Russia To Mine Crypto appeared first on Coinpedia Fintech News

In a significant ruling, the President of Russia, Vladimir Putin, has signed a law on Thursday to legalize crypto in Russia. This bill will enable registered Russian entrepreneurs to mine cryptocurrency. Let’s understand who will be allowed to mine crypto and where they can sell it.

Legalizing of Crypto Mining

BRICS started embracing digital assets in the last few months. Reports suggest that they are even considering creation of a native cryptocurrency. This could be a way to move further from the US dollar. Amidst all this, Russia Parliament has legalized crypto mining.

As per the new law, not everyone is allowed to take part in the mining activity. Only Russian legal entities and registered individual entrepreneurs are permitted. Other individuals can also start crypto mining without even getting into Russian registers, however they can not exceed the energy consumption limit set by the Russian government. 

Introduction of Mining Related Concepts

This crypto mining rule also introduces the concepts of mining pools, mining infrastructure, address identifier and the pool master to Russia. Mining is not recognised as the digital currency issuance but a component of turnover. The mined cryptocurrency and foreign digital assets can be traded on the Russian blockchain platform. However, the central bank of Russia can ban certain assets, if it poses a threat to Russian financial stability.

Russian Government and Crypto

Russia has been facing high losses in international trades due to the western sanctions. In July end, the Russian parliament passed a bill to use crypto as a medium of transaction for off-border trades. Now, the passing of the crypto mining bill brings Russia closer towards utilizing crypto on a big level. This law will come into effect within ten days of publication. According to a report by Russian News Agency, Putin, in an economic meeting with the government, had a discussion about the introduction and utilization of cryptocurrencies. 

Looking ahead

Although Russia has passed pro-crypto bills to allow registered entities to mine crypto and allowed some businesses to use crypto transactions for international trades, domestic use of crypto is still banned. The new crypto bills might be a way for them to open new ways to trade with trade partner countries and build some new connections, however this brings Russia and their partners in the bad eye of western regulations. It would be interesting to see what kind of steps they take once these laws take effect in Russia.

The post XRP Whales Move 113 mln Tokens from Exchanges, Buy Signal? appeared first on Coinpedia Fintech News

As the legal battle between Ripple and the Security Exchange Commission (SEC) concludes after four years, whales’ focus has now shifted to Ripple’s native token XRP.

70 million XRP tokens withdrawn from exchanges 

According to a blockchain transaction tracker Whale Alert, in the last 24 hours, whales have moved a significant over 113 million XRP tokens worth $70 million from centralized exchanges (CEXs) including Binance and Upbit. 

Ripple’s victory might be the potential reason behind this massive token withdrawal and has caused a significant price surge in XRP.

XRP’s open interest 

At press time, XRP is trading near $0.614 and has experienced a price surge of 23% in the last 24 hours. Meanwhile, its trading volume has skyrocketed by 310%, suggesting massive participation during the same period. Additionally, XRP’s open interest (OI) has soared by 51% signaling immense interest from traders and investors. 

XRP price prediction and key levels 

According to expert technical analysis, XRP looks bullish as it is moving above the 200 Exponential Moving Average (EMA) on both daily and 4-hour time frames. The price of assets above the 200 EMA, signals that assets are in an uptrend.

Source: Trading View

Additionally, XRP is at a crucial resistance level near $0.625 and has been consolidating in a tight range for the last 12 hours. If sentiment remains unchanged and XRP gives a breakout of this above resistance level, there is a high chance it could soar to the $0.75 level in the coming days.

XRP’s major liquidation levels

As of now, XRP’s major liquidation levels are at near $0.593 on the lower side and $0.643 on the upper side, according to CoinGlass. If the sentiment remains unchanged and the XRP price rises to the $0.643 level, nearly $32.30 million of short position will be liquidated. Conversely, if sentiment changes and XRP falls to the $0.593 level, nearly $17.72 million of long positions will be liquidated.

Here’s why the crypto market is increasing 

However, the possibility of this breakout is very high, as the overall sentiment looks bullish. Following the opening of the U.S. stock market crypto market turned bullish. Top assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have experienced a price surge of over 6%, 4.5%, and 9%, respectively in the last 24 hours.

The post Nasdaq and NYSE Proposes ETH ETF Options : SEC’s Green Signal is awaited appeared first on Coinpedia Fintech News

Bitcoin and Ether ETFs are no new names for crypto people now. They allow investors to invest in cryptocurrencies without actually buying it. Nasdaq and NYSE have filed proposals to trade options of spot ETH ETF. They filed a proposal of rule change with the SEC to permit the listing and trading of Options of ETH ETF. Let’s understand what these proposals mean for the investors.

The Proposals

On August 6, Nasdaq ISE LLC filed a proposal to allow them to list and trade options of BlackRock’s iShare Ethereum Trust (ETHA). The following day, NYSE Americal LLC also submitted the request for Bitwise ETH ETF, Grayscale Ethereum Trust, the Grayscale Ethereum Mini Trust, and any Trust that holds Ether. The two exchanges propose to amend Rule 915 that provides criteria for underlying securities.

Source : SEC

Nasdaq has submitted a 17 page proposal while the proposal of NYSE has 15 pages. When the SEC approves the proposal, these exchanges can list and start trading of options of ETH ETFs. This will allow the investors to interact with Ether without actually investing in the crypto. Ether ETPs provide investors with cost efficient alternatives that allow a level of participation in the ether market through the securities market

Source : SEC What are Options?

An Option is a derivative of the commodity, that provides the right, but not obligation, to buy-sell an asset like a stock or ETF, at a set price and date. It provides a cost effective medium to increase purchasing power. Institutional investors use these commonly to manage risk. Since Ether is classified as a commodity by SEC, its ETFs are also the same, hence creating ETH ETF Options are possible.

SEC Stance on These Proposals

As these proposals are submitted to SEC for amendment in the rule 915, they will analyze every aspect and possibility before making any decision. Meanwhile the SEC is inviting public comments on these proposals. The public comments on these proposals are due within 21 days. 

According to James Seyffart, ETF analyst at Bloomberg, the final SEC decision from SEC on these proposals should not be expected before next year. He says that the SEC is not a solo decision maker in such cases. Approvals from OCC and CFTC are also required.

Source : X What This Means for ETH and ETH ETFs

Crypto is gaining global adoption and it has reached to a level where institutions have started adding crypto in their books. The launch of Bitcoin and ETH ETFs have seen significant success and allow investors to have exposure with crypto without even directly investing in it. The approval for ETH ETF Options will open doors for even more interested investors with a layer of valuable hedging tools for managing the risks.Everything now depends on OCC, CFTC and SEC and when they give a green signal, this is going to be another achievement for the crypto world.

The post Top Cryptocurrency to Hold for the 2024 Meme Coin Season appeared first on Coinpedia Fintech News

The cryptocurrency market is again active as Bitcoin’s strong recovery injects new energy into the industry. This momentum has sparked interest in various assets, with meme coins, in particular, gaining traction. Among them, MoonTaurus (MNTR) is a promising opportunity for investors. This bull-themed meme coin has demonstrated a strong presale performance and growth trajectory.

MoonTaurus (MNTR) Gains Momentum in Presale, Raises $170,000 in Days

MoonTaurus (MNTR) has rapidly caught the attention of the cryptocurrency community. The presale for this new meme coin has already raised over $170,000, reflecting strong investor confidence. Priced at just $0.005 in Phase 1, MNTR is set to substantially increase to $0.07 at launch, providing early investors with a return of 1400%. This early-bird advantage makes MoonTaurus appealing to those looking to capitalize on the next big meme coin.

MoonTaurus taps into a well-established trend in the meme coin market, combining engaging storytelling with a strong community focus. The project draws from the captivating legend of a celestial bull, symbolizing prosperity and success. While the lore is engaging, the focus remains on MoonTaurus’s financial potential. The coin’s presale is divided into multiple phases, with each phase gradually increasing the token price, driving urgency among investors to act quickly.

Why MoonTaurus is Capturing Investor Interest

Investors are flocking to MoonTaurus not just for its story but for its strategic financial setup. To begin with, the presale structure has a starting price of $0.005 and a planned increase to $0.07 at launch, which ensures huge returns, especially for early buyers. Furthermore, analysts are forecasting a bullish future for MNTR.

Conservative projections hint at a potential rally that could see the token trading above $1 by the end of the year. MoonTaurus is also expected to be among the top gainers of the cycle, with projects of a $1 billion market cap and up to 100x returns. This anticipated growth is bolstered by a well-planned roadmap, which includes listings on both decentralized and centralized exchanges, increasing the token’s visibility and liquidity.

Notably, the project’s marketing efforts also contribute to its growing appeal. MoonTaurus has launched an aggressive campaign that will leverage social media and influencer partnerships to build momentum. Additionally, the coin’s tokenomics—40% allocated to the presale, 30% to marketing, 20% to exchange liquidity, and 10% to community rewards—demonstrate a balanced approach to growth and community engagement.

While other meme coins, such as Pepe and Bonk, have already reached their full potential, MoonTaurus is still relatively new, providing a significant upside. Insiders from these successful tokens are now participating in MoonTaurus’s presale, highlighting the project’s potential. Unlike these earlier tokens, MoonTaurus offers a more structured presale with clear phases and a significant price increase, which could result in even greater returns for early investors.

The Road Ahead for MoonTaurus

As MoonTaurus moves towards its next presale phase, the token’s value is expected to double. This progression shows growing investor confidence and the project’s strategic plans. Following the presale, the token’s price may experience an initial dip due to the usual post-launch correction. However, with ongoing marketing and exchange listings, MNTR is positioned for a steep climb.

Looking ahead to the end of 2024, MoonTaurus is projected to see continued growth, with analyst predictions suggesting a climb above $1. The project’s target of reaching a $1 billion market cap underscores its ambitious goals and potential impact in the meme coin space.

Website: https://moontaurus.com/

Linktree: https://linktr.ee/moontaurus

The post Will BTC Hit $62,500? Peter Brandt’s Bitcoin Price Prediction appeared first on Coinpedia Fintech News

During the ongoing market recovery, veteran trader and chartist Peter Brandt recently made a post on X (previously Twitter) that gathered massive attention from the crypto community.

Peter Brandt’s Bitcoin prediction 

In a post, Brandt predicted that Bitcoin (BTC) the world’s biggest cryptocurrency, could fall to the $40,000 level before the next half of the halving cycle. Despite Brandt’s future prediction, BTC is currently experiencing an impressive upside move and is on the verge of a crucial breakout. 

It will be my honor to record a video today for @RealVision @RaoulGMI to discuss this chart. I believe there is a 50% chance $BTC visits sub-$40k before the last half of the halving plays itself out pic.twitter.com/FJGuYKlvXC

— Peter Brandt (@PeterLBrandt) August 8, 2024

Bitcoin price analysis

At press time, BTC is trading near the $58,200 level and has experienced a price jump of 2% in the last 24 hours. Meanwhile, its trading volume has dropped by 8% during the same period, suggesting potential fear among investors.

Additionally, BTC’s open interest (OI) is gradually increasing as it approaches a crucial resistance level. In the last 4-hour BTC’s OI has increased by 2%, as per an on-chain analytic firm CoinGlass. 

Bitcoin price prediction 

According to expert technical analysis, BTC is at a crucial level and is getting resistance from both a horizontal level and an inclined trendline near $58,400. At this point, there are two possibilities:

Source: Trading View

If the BTC’s 4-hour candle closes above the resistance level of $58,400, there is a high chance it could rise further by 5% to $62,500 near its 200 Exponential Moving Average (EMA). Conversely, if BTC’s 4-hour candle closes below the $56,900 level, there is a significant chance it could decline by 7% to its next channel support level of $52,500. 

Based on the historical data and price momentum, BTC has experienced this resistance level three times in the last 10 days, each time resulting in a price decline. However, short sellers are expecting a similar move this time as well.

Expert comments on Bitcoin

In addition to Bitcoin price prediction, a prominent analyst recently shared a post on X, that the crypto market has returned to an extreme fear zone, potentially offering a prime opportunity to buy Bitcoin. He also added, “Remember, be greedy when others are fearful.”

The post Trump Confirms To Hold Press Conference; Huge Crypto Announcement Coming up? appeared first on Coinpedia Fintech News

Trump Confirms To Hold Press Conference; Huge Crypto Announcement Coming up?

In a latest development, Donald Trump has announced plans of holding a press conference on Thursday, August 8, at his Mar-a-Lago estate. This announcement comes at a crucial moment amidst the 2024 election race, as Vice President Kamala Harris is also seen gaining traction in the odds of winning the election, likely giving a tough fight to Trump, in the race to become the next President.

What Is Trump Going To Announce?

Notably, the Trump family has recently teased major developments in Defi, which makes this announcement of Trump, all the more significant. Trump confirmed the press conference, which was scheduled for 2 P.M. today, on his social media platform, Truth Social. He wrote, “I will be doing a General News Conference at 2:00 P.M. at Mar-a-Lago, Palm Beach. Thank you!”

The post has also sparked speculation about the topics he might address. Some people expect him to target at his opponent, Kamala Harris. 

Donald Trump Jr, on Wednesday hinted at a major upcoming development in the world of crypto and Defi. He tweeted about ‘shaking the crypto world with something HUGE’ stressing Defi to be the future and advised not to get left behind. 

The post had garnered attention in the crypto and political community after remarks fron Eric Trump as well, as he declared his enthusiasm for Defi. Eric Trump also had asked the users to stay tuned for a big announcement. 

Harris Giving A Tough Fight!

Recently, Kamala Harris’ odds of winning the election rose to a new all-time high amid recent support from the crypto industry, according to prediction markets. Polymarket prediction market data shows that Kamala Harris’ odds of winning the presidential election are slowly picking speed. According to the latest bets, the odds for Harris increased by 2% to hit an all-time high of 46% and Donald Trump’s chances dropped by 1% to 52. The recent increase in popularity of Kamala Harris among crypto executives and pro-crypto investors has raised concerns for the crypto community. 

According to a report from Reuters, a little over two weeks ago, Trump’s presidential campaign who had visions of an expansive national strategy that would result in a landslide victory in November, now struggle to blunt a surging Kamala Harris, who swiftly replaced President Joe Biden as the Democratic Party’s presidential candidate last month. According to the report, many sources see Harris as a far tougher opponent than Biden. 

The post Solana Price Achieves New Highs: A Threat to Ethereum’s Reign? appeared first on Coinpedia Fintech News

The Solana (SOL) network has attracted significant hate and attention from the global crypto community in the past. The top-tier layer one (L1) blockchain, with dozens of fast-growing decentralized financial protocols, is laser-focused on dethroning Ethereum (ETH) from its position as the leader in the Web3 ecosystem.

Solana’s SOL has outshined Binance-backed BNB and is currently ranked as the fourth most valuable digital asset by market capitalization. 

According to the latest crypto data, the Solana network has a total value locked (TVL) of about $4.8 billion and a stablecoins market cap of around $3.68 billion. On the other hand, the Ethereum network boasts more than $46 billion in TVL and a stablecoins market cap of nearly $80 billion. 

Peter Brandt on Solana vs Ethereum Battle

In the battle between $SOL and $ETH it was inevitable there would be a clear winner.$ETH – cumbersome, expensive, flawed, claims to be decentralized when its not$SOL – user friendly, great foundation$SOL should gain 100% on $ETH in months ahead pic.twitter.com/UNTYMugQy2

— Peter Brandt (@PeterLBrandt) August 8, 2024

According to veteran trader Peter Brandt, Solana will ultimately outshine the Ethereum network in the long haul. Brandt differed with Vitalik Biterin’s view on Ethereum’s user experience. 

While Buterin recently highlighted that the Ethereum network offers fast, cheap, and secure transactions through its layer two chains, Brandt says the network is cumbersome and not as decentralized as it claims.

“I hear the same crap from $ETH bulls whenever I talk naughty about the item of their adoration — ‘oh, but ETH is fixing this or that or this or that’ Doesn’t it tell you something is wrong that ETH is always needing a fix?. Kind of like U.S.-built autos,” Brandt noted.

Following the recent bullish breakout of the SOL/ETH pair to a new all-time high, Brandt highlighted that Solana is on the cusp of a 100 percent rally against Ethereum in the coming months.

Market Picture

On Wednesday, the Solana ecosystem received a major boost after Brazil approved the first spot SOL ETF. With VamEck pushing a similar product in the US amid improving crypto regulatory standards, experts believe the approval is imminent. 

Meanwhile, the anticipated altseason, triggered by the inevitable macro reversal of Bitcoin dominance, will accelerate the crypto cash rotation and favor Solana more than Ethereum.

The post Pro-XRP Lawyer Bill Morgan Questions Judge’s Ruling on ODL Sales appeared first on Coinpedia Fintech News

Pro-XRP lawyer Bill Morgan recently expressed concerns about Judge Torres’s handling of Ripple’s case against the SEC. Morgan believes the judge’s decisions on XRP sales, especially those related to On-Demand Liquidity (ODL), lack clarity and proper analysis.

Bill Morgan Questions Judge’s Ruling

Bill Morgan notes that Judge Analisa Torres has treated ODL sales of XRP similarly to institutional sales but hasn’t clearly explained why. The judge applied the Howey test to label these sales as investment contracts without providing detailed reasons for her conclusions. 

This is a finding Judge Torres seems to have made merely by inference from the fact that there are continuing ODL sales that use XRP. In the summary judgment decision she just erroneously lumped in ODL sales with other sales of XRP to institutions. There is not in her two major… https://t.co/iyn8D2cS5d

— bill morgan (@Belisarius2020) August 8, 2024

Morgan further argues that Torres’s previous judgments lacked clarity on what features make ODL sales investment contracts, suggesting that critical aspects such as the brief holding period and non-speculative use of XRP were overlooked.

This lack of clarity raises doubts about whether ODL sales truly meet the criteria for investment contracts. Morgan believes the judge’s recent comments hint that she might be reconsidering her previous decisions, possibly acknowledging errors in her past judgments.

Judge’s Recent Response

In her recent judgment, Judge Torres stated that she had only considered “some” features of the ODL sales and acknowledged that the absence of certain features does not necessarily exempt them from being classified as investment contracts. 

Despite this, she did not clarify what aspects of ODL sales might make them investment contracts. Morgan believes this statement indicates a possible error in the judge’s earlier decisions.

Response to Mr. Huber

Morgan’s critique comes after Mr. Huber tweeted that the court’s findings might suggest Ripple could break the law in the future. Huber’s comment mentioned that the court’s decision left room for potential future violations, which could affect how regulators handle the situation going forward.

The post Flare Network Burns 66M FLR Tokens: Could This Be the Turning Point for FLR Price appeared first on Coinpedia Fintech News

Flare (FLR) network, a layer one blockchain that builds decentralized data infrastructure, announced its monthly token burn on Thursday to ensure value addition to the community token holdings. According to the announcement, the Flare network burnt 66,293,390 FLR tokens as part of the 2.1 billion burn program to be distributed until January 2026. 

The Flare team intends to achieve over 2 percent token burn at the end of the program, which will be a huge boost to the long-term holders. According to Hugo Philion, the CEO and co-founder of Flare network, the 2.1 billion FLR token burn, which represents around 40 percent of the original allocation to early investors, will prevent unfair dilution of community holdings.

66,293,390 $FLR burnt.This directly benefits you:"Without this burn, the investors would be able to claim approximately 3x their original allocation through the #FlareDrops, unfairly diluting community holdings."More about the 2.1 billion $FLR burn: https://t.co/eW9U8uZfBr pic.twitter.com/FqUfJ5E6or

— Flare (@FlareNetworks) August 8, 2024

FLR Price Lacks Bullish Sentiments 

Amid the ongoing crypto recovery, led by Bitcoin (BTC), Flare (FLR) price has not registered tangible results. Since the beginning of June 2024, FLR price against the US dollar has dropped over 45 percent to trade around $0.01615 on Thursday. 

The small-cap altcoin, with a fully diluted valuation of about $1.66 billion and a daily average traded volume of around $10 million, has suffered major blows in the last few weeks. Furthermore, FLR price closed last week below the support/resistance level of around $0.0183, which coincides with the 0.786 weekly Fibonacci Retracement.

However, the weekly Relative Strength Index (RSI) has recently approached the 30 percent level, which suggests the digital asset is largely oversold.

From a technical standpoint, the FLR price could register a V-shaped rebound in the near term, especially following the historical ruling in the Ripple vs. SEC case.

Growing Ecosystem 

Flare Rich List Reload: 987K+ Total Accounts. 366K new accounts in ONE month = biggest MoM growth to date. #FlareNetwork #FAssets #FLRRichList2024 pic.twitter.com/rmGEtjz5uO

— DeFi Divvy (@defidivvy) August 7, 2024

The Flare network has grown to a vibrant Web3 ecosystem, with about $9.36 million in total value locked (TVL) from a handful of DeFi projects. Some of the notable DeFi platforms on the Flare network include Kinetic Lending, SparkDEX, and Steer Protocol. 

As a result, the Flare network currently boasts nearly 1 million wallet addresses, with more than 93 million transactions since inception.

The post Vitalik Buterin Clarifies Misunderstandings Over Ethereum’s Technical Update! appeared first on Coinpedia Fintech News

Regarding Ethereum’s upcoming crucial technical update announcement, Vitalik Buterin recently had to clarify some misunderstandings. It was stated in error in a tweet that the M31 binary statelayer of Ethereum was switching from 16 to 32 bits. This was clarified by Buterin, that it was really shifting from 64 bits to 32 bits. This is a significant change which may drastically speed up the proving on the network, leading to better performance. Buterin added “Now you can write reasonably-performant STARK proving code that runs on your GPU, in python!” He also shared the full arithmetization of poseidon in his X post.

The post Arthur Hayes Predicted Second Market Crash?! Best Altcoins Picks to Buy the Dip appeared first on Coinpedia Fintech News

Arthur Hayes, ex-CEO of BitMEX, has hinted at a potential upcoming market crash. Such predictions have traders on edge, eager to know which altcoins could offer the best returns during the dip. This article delves into the top crypto picks poised for growth, providing insight into the potential hidden gems in the market.

CYBRO Attracts Crypto Enthusiasts with Advanced Earning Opportunities, Raising Over $1.6M  

CYBRO is a new DeFi platform that uses the power of artificial intelligence to enhance the opportunities for earning on the Blast blockchain. Being in the early stages, the project has already attracted much attention from crypto enthusiasts who have propelled the presale to the $1.6 million milestone. 

The uniqueness of CYBRO lies in its ability to deliver lucrative yield farming solutions to suit various strategies regardless of the market conditions 

The CYBRO token stands central to the platform, offering high utility. The high demand for CYBRO offerings may consequently fuel the demand for its tokens, currently seen as undervalued crypto assets. Some experts foresee 1200% growth potential which makes CYBRO tokens a must-have crypto for savvy investors.

Benefits for CYBRO Token Holders:

– Competitive staking rewards

– Access to airdrops

– Reduced trading and lending fees

– A robust insurance program within the platform

With only 21% of the total tokens available for this presale and approximately 80 million already sold/ The supply of CYBRO tokens is running out fast, so this is a golden opportunity to secure a stake in a project that’s truly one in a million.

Ondo (ONDO) Poised for Growth Despite Market Hurdles

Ondo (ONDO) has faced some price dips lately, with a current range of $0.54 to $0.94, showing a week’s loss of nearly 23% and a month’s decline of about 19%. However, there’s a strong potential for growth.

The coin’s RSI at 57 suggests it’s not overbought, and its price is supported around $0.39. With resistance levels at $1.19 and $1.59, a break past these could yield upwards of 70% to 120% growth. Given the 220% increase in the past six months, bullish trends seem likely once the current hurdles are crossed. Keep an eye on the $0.72 price for confirmation of an upward move.

Jupiter (JUP) Eyed for Big Gains Despite Market Dip

Jupiter (JUP) is showing resilience amid market volatility, trading between $0.65 and $1.11. The coin recently faced a pullback, down 15.42% in the past week, but still up nearly 28% over the past month and over 73% in the last six months.

Bulls remain hopeful, driven by the token’s ability to stay above key support at $0.48, with eyes on breaking resistance at $1.40. If it surpasses this level, the next target is $1.85, potentially up 50% from current levels. The RSI of 65.40 suggests more room for upward movement, backed by strong short-term and medium-term moving averages. The Bulls are not out yet.

Solana Shows Resilience Amid Market Dip, Eyeing Potential Gains

Solana (SOL) is currently trading between $115 and $177.72, reflecting strong bullish potential despite the recent market dump. The coin’s 1-month price change is nearly 16%, and over the past six months, it’s risen by almost 50%. With the nearest resistance at $217.16, SOL could see significant gains if it breaches this level. RSI at 67.80 suggests it isn’t overbought yet, indicating more room for upward movement.

If momentum continues, Solana could potentially rise by another 20% to 25% in the short term, targeting the next resistance around $279.76, marking substantial growth from current levels. The nearest support at $91.96 provides a safety net, securing the altcoin’s positive trend.

Turbo (TURBO) Poised for Growth as Market Patterns Mimic 2021 Bull Run

Turbo (TURBO) is currently moving between $0.0032 and $0.0053, showing signs that bulls may be stepping back. Despite a recent dip of over 25% in the past week, Turbo has surged over 1166% in six months. The price is nearing its simple moving averages of $0.0041 and $0.0040, suggesting it could rise towards its first resistance level at $0.0067, which would be a solid gain.

With a Relative Strength Index of 54.47 and a bullish MACD, Turbo might break past $0.0088 if market conditions stay positive, potentially achieving a rise in double-digit percentages. Investors should watch for repeat bullish patterns reminiscent of 2021.

Conclusion

ONDO, JUP, SOL, and TURBO have less potential in the short term. However, CYBRO, a technologically advanced DeFi platform, offers investors unparalleled opportunities to maximize their earnings through AI-powered yield aggregation on the Blast blockchain.

With features like lucrative staking rewards, exclusive airdrops, and cashback on purchases, CYBRO ensures a superior user experience characterized by seamless deposits and withdrawals. Emphasizing transparency, compliance, and quality, CYBRO stands out as a promising project with strong interest from crypto whales and influencers.

Site: https://cybro.io

Twitter: https://twitter.com/Cybro_io

Discord: https://discord.gg/xFMGDQPhrB

Telegram: https://t.me/cybro_io

The post Ripple Wins Boost XRP ETF Approval Chance, Eyes $20 Target appeared first on Coinpedia Fintech News

In July, many crypto traders expected a settlement in Ripple’s legal case. Finally, the federal judge has now ordered Ripple to pay $125 million in fines and follow new rules to prevent future legal problems. The court’s decision clarified that XRP itself is not a security. 

This ruling opens the door for the potential approval of a spot XRP ETF, which could be great news for investors.

XRP ETF Is Coming Soon?

Kashif Raza, founder of Bitinning, highlights that Ripple’s recent legal fine was due to its sales of XRP to institutional investors, which were ruled to violate securities laws. Fortunately, the court determined that XRP sales to regular investors did not breach any regulations, offering relief to the XRP community.

XRP sales to institutions were a violation of securities law. Pay $125 million fine.XRP sales to retail was not a violation of securities law.Relief to the XRP community… You can expect XRP ETF applications soon.

— Kashif Raza (@simplykashif) August 8, 2024

With the legal issues surrounding XRP’s retail sales now resolved, excitement is growing about new financial opportunities for cryptocurrency. 

Raza is optimistic that XRP might soon be included in Exchange-Traded Fund (ETF) applications. Such inclusion could open up new investment avenues and significantly boost XRP’s visibility and presence in the financial sector.

Ripple & SEC To Work On XRP ETF

Popular Crypto trader Doctor Profit suggests that Ripple and the SEC might be working on an XRP ETF, predicting approvals for Bitcoin first, then Ethereum, and XRP.

$XRP – The Big Report:Everyone who knows me understands that I'm a major investor in XRP. This report is going to lay out the facts and show you exactly where we’re heading next.XRP is a masterpiece for the long term. If you’re thinking of making a quick buck with day trading… pic.twitter.com/w6ww9uSE6v

— Doctor Profit (@DrProfitCrypto) August 7, 2024

With the lawsuit over, large investors who were previously hesitant can now invest in XRP with confidence. This clarity is expected to positively impact XRP’s market, with signs showing strong growth potential.

XRP missed a bull run in 2021 due to legal challenges, but now, with those issues resolved, the market is set for growth. He predicts that XRP could reach between $16 and $20 within a year. However, in a less optimistic case, the price might be between $4 and $7. 

The post Whale Alert Discloses 60 Million XRP Withdrawal From Upbit! appeared first on Coinpedia Fintech News

Whale Alert has disclosed the latest XRP purchase from a major whale. 60 million XRP were withdrawn from the prominent South Korean exchange Upbit. These XRP coins worth $36.8 million were transferred to an unknown wallet, likely to the whale’s private wallet. XRP has been making waves in the crypto industry today with its massive price rally and some huge developments. XRP is trading at $0.617 after a huge surge of 19.26% in the last 24 hours. In addition, the 24 hour trading volume of XRP has surged 264.20% to $5.38 billion.

The post WazirX To Undo Trades Occurred After Its Withdrawal Freeze On July 18 appeared first on Coinpedia Fintech News

WazirX has announced plans to undo all trades that occurred following its withdrawal freeze on July 18. “All users will have their portfolio balances on the WazirX platform restored to what they were on 18 July, 2024, 1 p.m. IST,” the exchange wrote. The action will be conducted over the next few days. It added that the decision has not been made lightly and aims to protect the integrity of the platform and to facilitate an equitable outcome for users following the abnormality arising from the cyberattack.