Big Bank Enters the Crypto Game: JPMorgan Launches Blockchain-Based Deposit Token
The Bitcoin price has a long history of responding to changes in the banking industry. A recent development on September 8th suggests that JPMorgan, a prominent financial institution, is preparing to make a significant impact on digital finance. According to a recent Bloomberg report, the bank is on the verge of completing a groundbreaking blockchain-based deposit token, pending approval from U.S. regulators.
Finally Blockchain in Banking: A New Start!
In contrast to stablecoins issued by non-bank entities, JPMorgan’s new token will be introduced by a traditional depository institution. This token will complement JPM Coin, which is currently limited to transactions within the bank itself. However, the new token will enable transactions not only within JPMorgan but also with other financial institutions, particularly for settlements involving tokenized securities.
Done and Dusted!
Following a successful pilot project with the Monetary Authority of Singapore last year, this breakthrough demonstrates substantial progress. The token, like JPM Coin, will enforce strict compliance, including thorough customer verification and anti-fraud measures. JPMorgan’s foray into blockchain-based deposit tokens is a significant milestone, not just for the bank, but for the wider financial industry. Subject to regulatory approval, this innovation stands to revolutionize cross-border transactions.
“The past few years have been a tipping point for institutional DeFi, where even the largest banks are adopting this technology,” said Monica Long, President of Ripple.
JP Morgan’s new system alongside the existing XRP payment system has raised questions. Some believe it may be impacted by regulatory issues, allowing the SEC to allow new crypto players while retaining Ripple.
Also Read: JPMorgan: Spot Bitcoin ETFs Won’t Live Up to the Hype; Here’s Why
Crypto to Get A Boost
Historically, crises in the banking sector have had a positive impact on most cryptocurrencies. These crises tend to bolster confidence in digital assets, as investors explore stablecoins as alternative investments. The encouraging news is that institutions like JPMorgan opening the doors to blockchain technology will likely bolster the crypto market. As an example, Bitcoin experienced a surge from $27,000 to over $28,000 on March 19 due to an issue involving Credit Suisse.
Ripple XRP Enters Testing Phase with Financial Powerhouse Western Union
Western Union, the financial giant, is stepping into the world of cryptocurrencies. CEO Hikmet Ersek revealed that the company has its eyes locked on Ripple’s blockchain technology and XRP. So, why is one of the world’s oldest money transfer companies suddenly all about crypto? Simple, it’s the future!
Ripple and Western Union
Ripple isn’t a newbie in the blockchain game. So, when the company confirmed its tie-up with Western Union, they knew exactly what they were doing. Ripple’s statement was clear: “We’ve been testing different products with Western Union for a while.” One of these is the much-hyped xRapid, a solution designed to integrate XRP into payment systems. That’s right, you could soon send money as fast as you send a text!
What Makes Ripple’s XRP So Special?
If you don’t know about XRP, here’s the scoop. Ripple’s CEO, Brad Garlinghouse, said that sending money with XRP is super fast and super cheap. It’s way faster than Bitcoin and costs almost nothing!
It’s not just Western Union. Even the Saudi Arabian Monetary Authority has inked a deal to bring Ripple’s blockchain software, XCurrent, to its banks. Everyone wants a piece of the crypto pie.
The crypto market is nothing if not volatile. Remember January 2018? XRP was the star of the show, hitting an all-time high of $3.84. Flash forward, and it’s hovering around $0.52. But here’s the thing: With power players like Western Union boarding the Ripple train, we could see another XRP boom.
Rencom Network is making headlines by enabling crypto-only payments for their rental services. This daring move, using their native token RNT, led to a skyrocketing value—surging over 1,000% in just a matter of days. Could this be a sign that the age of crypto is really here?
Western Union teaming up with Ripple is big news. It shows that old-school money companies and new digital money can work together. And with other companies like Rencom Network making waves, it’s an exciting time for everyone interested in money and technology.
Investment Banker Declarant Enters the Ring in Ripple-SEC Battle
Judge Analisa Torres has approved the appearance of an investment banker declarant in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
Andrew A. Kunsak, of the law firm Sidley Austin LLP, has been approved to appear as an investment banker declarant in the case, according to recent court filings.
The announcement reads, “Andrew A. Kunsak of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, a member of this Court in good standing, hereby respectfully enters an appearance for Investment Banker Declarant in the above-captioned action.”
Who Is This Investment Banker Declarant?
In legal terms, a declarant is a person who makes a formal statement or declaration. In this context, Andrew A. Kunsak, an investment banker declarant, is appointed to ensure that certain confidential details are safeguarded.
What’s So Important About Confidential Information?
Investment banking involves dealing with massive amounts of financial information, including transactions, business strategies, client data, and more. Some of this information might be a part of the ongoing Ripple vs SEC case which needs to be kept private. Now, Andrew’s job is to make sure that it happens!
SEC Seeks Appeal Against Judge Torres’ Ruling
The SEC has filed a motion for an interlocutory appeal against Judge Torres’s ruling, which stated that programmatic sales of XRP are not securities under the Howey Test. The securities regulator is also seeking a halt on further proceedings until the court resolves its concerns.
Ripple’s chief legal officer, Stuart Alderoty, has clarified that the SEC is merely requesting the court’s permission to file an appeal, not actively appealing the decision on XRP as a security.
Market Reactions and the XRP Price
News of the latest development saw a slight dip in XRP price, falling 3% in the last 24 hours to trade at $0.60. However, the optimistic sentiment still prevails among crypto enthusiasts, who are eagerly watching the unfolding legal drama.
Binance Enters Japan and launches Binance Japan with the Astar token listed!
Binance, a prominent cryptocurrency exchange, has made its official entry into the Japanese market with the launch of its subsidiary, Binance Japan. This move is in line with the company’s growth strategy and aligns with Astar Network’s goals. Binance Japan has set a new record by offering access to 34 virtual currencies, surpassing other local exchanges in Japan. This wide range of options is expected to attract a diverse group of investors and traders in the country. CZ, the CEO of Binance, has praised Japan’s progressive approach to the Web3 regulatory environment. The recent listing of Astar’s native token, ASTR, on Binance Japan is expected to contribute to its success.
Uwerx Presale Investors Bullish on Launch Prospects as $WERX Token Presale Enters Stage 5
Uwerx is an innovative decentralized freelance services marketplace that brings the best aspects of web3 technology to the gig economy. The Uwerx protocol, currently in its Stage 5 Presale Phase, intends to challenge industry giants Upwork and Freelancer.com by creating a decentralized alternative.
In doing so, Uwerx will do away with the excessive fees and other inefficiencies of its centralized competitors, appealing to freelancers who appreciate a decentralized approach to the gig economy.
Community-Driven Uwerx (WERX) Approach Increasing Presale Demand
The future of freelancing is decentralized, which is what exactly the Uwerx protocol delivers. Uwerx enables freelancers to take control of their careers by allowing them to earn more and find more quality and like-minded clients.
And, through discussions between its highly-engaged, devoted community and Uwerx developers, the protocol has shown how collaboration has led to major changes to the protocol to benefit everyone over the long term.
For instance, due to the high demand for $WERX tokens driven by its presale and presale bonuses, the presale token allocation was increased to 57% of the total $WERX supply from 45%.
As of press time, $WERX is currently available at $0.05245 per token, with a hefty 15% presale bonus. These generous incentives won’t last long, however, so you need to get into action quickly.
Uwerx (WERX) Platform Boasting Significantly Better Features for Freelancing
Uwerx prides itself on launching a product that offers real utility while prioritizing the safety of platform and user funds. In line with this, Uwerx has received complete audits from leading names in the crypto industry, like InterFi Network and Solidproof, besides provisionally agreeing to a development team token allocation lock after the Uwerx presale is completed.
Based on discussions with the community, the Uwerx development team will slash platform fees from 5% to 1%. This is a stark contrast to platforms like Upwork, which charge anywhere from a 10% to 20% commission on freelancer earnings.
Essentially, Uwerx will enable freelancers to earn more not only from freelance gigs, but also with unique protocol features like yield-generating vaults where users can store $WERX tokens for passive income.
Uwerx has since previewed its revolutionary platform with its Alpha version for presale investors and has successfully completed its test airdrop for $WERX tokens. Each registered presale investor confirmed their wallets by receiving a $WERX token airdrop, demonstrating how the development team has consistently delivered on their promises.
Uwerx (WERX) Redefining the Freelance Marketplace
Current freelance platforms are often criticized for their high platform fees, excessively-priced access to premium features, and long payment delays. But as the gig economy grows, the freelance marketplaces definitely need more decentralized solutions that give the power back to the users instead of concentrating it all on the existing platforms.
That’s exactly what Uwerx will deliver. Uwerx will be the first full-featured and decentralized freelance marketplace to compete with the likes of Upwork, driven by its expert team’s keen insight and experience within the gig economy.
Presales are always the most opportune time to invest in promising crypto projects, and Uwerx is among the hottest ones in 2023. To mark the occasion of Uwerx, there will be a special 12.50% bonus offered on purchases of WERX, in addition to the existing 15% bonus. This limited-time offer will conclude at 23:59 UTC today. Currently, WERX is priced at $0.05645.
Bitcoin Enters The $28K Region Due To Low Buying Pressure – Will Bulls Take Charge Now?
After a series of days stuck under the $30K line, Bitcoin has finally shown a clear trend, though it’s not the one bulls were hoping for. Bitcoin slipped below its monthly support of $29K, and it didn’t stop there, continuing to slide down to the $28.8K mark. This severe bearish swing led to a massive market liquidation today. However, analysts are viewing this as a prime opportunity to go long on Bitcoin’s price, with the aim of pushing it back up to $30K.
Bitcoin Records Massive Liquidation
Bitcoin experienced a drop today following a report by the Wall Street Journal that Binance’s CEO, Changpeng “CZ” Zhao, allegedly indicated in a private discussion that the cryptocurrency exchange’s affiliates had engaged in wash trading a few years back. Additionally, warnings from Chinese policymakers about a challenging economic recovery, without the promise of substantial stimulus, also contributed to the decline.
Moreover, Bitcoin took the spotlight as funds tracking BTC reported outflows amounting to $13M. Meanwhile, products shorting Bitcoin continued to see outflows for the 13th consecutive week, totalling $5.5M. According to a report by CoinShares today, investors are beginning to prefer Ethereum over Bitcoin, as evidenced by the $6.6M of inflows into Ethereum.
According to Coinglass’s total liquidation chart, there was a significant surge today following the drop in BTC price to $29K. Both short and call holders experienced heavy liquidations, but long positions were the most affected, with the total amount surpassing $41 million.
Conversely, put positions experienced a minor decrease in liquidation to $3 million. However, it’s worth noting that sellers had previously liquidated $10 million worth of holdings profitably when the BTC price nearly reached $30.1K.
What’s Next For BTC Price?
Bitcoin has been consistently trading below the 20-day exponential moving average and created more distance today by dropping below the $29.5K level. However, a silver lining is that the bears failed to drive the price below $28,700.
This indicates that the bulls are still in the game, purchasing at every slight drop. The bears’ repeated inability to drag the BTC price lower could potentially draw in buyers.
If the price surpasses the 20-day EMA, it might surge toward the immediate resistance at $30,200. A breakthrough above the $30,500 zone could pave the way for a potential rally to $31,800.
Conversely, if the price drops and falls below $28.3K, it would signal a spike in bearish confidence. The price could then tumble toward the support level of $26,700.
The moving averages on the four-hour chart are declining, and the relative strength index (RSI) has dropped to the overselling region, suggesting that the price may continue to witness volatility.
Shiba Inu News: New Whale Enters Top 50 with 2.4T SHIB Tokens from Binance
Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has recently seen a surge of attention in the financial markets. One of the major highlights in this uptick of activity is the appearance of a new entrant into the SHIB whale club, making a staggering purchase in a single transaction.
A New Whale Dives In
The mysterious player emerged in the crypto space, seizing nearly $19 million worth of SHIB in a single transaction. A staggering 2.41 trillion SHIB, originating from a wallet connected to Binance US 2, was snapped up by the newcomer, catapulting them into the top tier of SHIB holders. This single investment has positioned them as the 34th largest SHIB holder.
This introduction marks the second such occurrence in less than a week, indicating an increasing trend of large-scale interest in cryptocurrency. Despite this, the price point of $0.000008 continues to be a contentious battleground between bullish investors and skeptical bears.
The Battle of the Bulls and Bears
Although the bulls have made significant strides, the bears seem to hold the upper hand, as evident from the abundance of red clusters marking the sellers’ strong presence. The current value of SHIB stands at $0.000007856, having risen slightly by 1.45% over the last 24 hours.
In a closer look at Shiba Inu’s performance, it is evident that cryptocurrency is lodged between a rock and a hard place. The contention between the forces of supply and demand has rendered SHIB stuck in a price range of $0.000007 and $0.0000084 since late June.
Despite the prevailing struggle, SHIB’s trajectory might shift upwards if it breaks past the $0.0000084 mark. This could trigger a new wave of bullish momentum, potentially propelling the SHIB price to breach the $0.000010 barrier, effectively knocking off a zero from its current price.
Golteum Enters Chainlink To Revolutionize Metals Tokenization
Golteum, a groundbreaking platform at the intersection of precious metals and cryptocurrency trading, has joined the Chainlink BUILD program. A move that promises to reshape the landscape of digital asset tokenization.
This effort aims to leverage Chainlink’s industry-leading technology and Golteum’s innovative approach to empower users with a secure, transparent, and efficient solution for trading and owning precious metals on the blockchain.
By exploring the depth and significance of this announcement, we can uncover the potential impact it will have on the future of the tokenized precious metals industry. Also, there’s the opportunity to be early enough and join Golteum’s ecosystem.
Golteum Seeks To Merge The Best Of Chainlink To Its Ecosystem
Golteum and Chainlink share a common vision of merging the inherent value of precious metals with the transformative potential of blockchain technology. Golteum’s unique platform facilitates the creation of tokenized assets backed by verified, audited, and insured physical precious metals.
This provides investors with a secure and transparent investment opportunity. Supported by Chainlink, a leading provider of decentralized oracle networks, Golteum aims to enhance its platform’s capabilities, particularly in terms of pricing data accuracy, real-time validation, and security.
Golteum is built on the robust Ethereum blockchain infrastructure, ensuring the highest level of security and transparency for investors.
Its technology guarantees the integrity of blockchain transactions by leveraging advanced cryptographic techniques, providing users with peace of mind and protecting their investments from fraudulent activities
Golteum’s Market Outlook As The Platform Launches
Golteum’s goal is to encourage the wider market’s adoption of physical investments in precious metals on the blockchain. The potential to bring real-world assets on-chain has grown in recent years and Golteum is a cutting-edge solution leading the charge to mainstream gold investing. Your investment is digitalized and safeguarded on the blockchain, so you no longer need to worry about safely keeping large gold bars in a vault.
Trading on Golteum’s marketplace NFTs, which place a heavy emphasis on user experience and transparency, allows customers genuine digital ownership of actual gold or silver bars. The actual bar that corresponds to each NFT is kept in a safe vault after purchase. Your legal title and evidence of ownership are represented by the NFT.
Supported by Fireblocks, a top-tier infrastructure provider, Golteum places utmost importance on the security and integrity of its ecosystem.
The platform’s Smart Contract has also undergone rigorous auditing and approval by Certik, a renowned blockchain security firm, ensuring a robust and trustworthy foundation. Certik has also doxxed and awarded silver badges to six of the team members.
Check the links below to learn more and join the Golteum community:
Bitcoin Enters Beast Mode as it Heads Toward $30K! Will BTC Spot ETF Applications Fuel Further Rally?
Bitcoin has once again captured the attention of investors and enthusiasts. The leading crypto asset is making a roaring comeback, entering what can only be described as “beast mode” as it surges toward the $30,000 mark. The question on everyone’s mind is whether the ongoing rally will receive a further boost from spot ETF applications to surpass the $30K level or witness a severe plunge from bears.
Bitcoin Investors Turn Greedy
Bitcoin’s price experienced a remarkable overnight rally, fueled by a wave of spot ETF applications from industry giants like Invesco and WisdomTree. This surge in applications has not only injected renewed optimism but has also provided a significant sentiment boost to the crypto market.
Recent data reveals a notable shift in Bitcoin investor sentiment, with greed making a comeback for the first time since May. The surge in Bitcoin’s price, surpassing the $29,000 mark, has propelled the current sentiment to a value of 59 on the Bitcoin Fear & Greed Index. This indicates that a significant majority of investors are currently driven by a sentiment of greed.
According to a report by Kaiko, BTC trading volume among US investors has experienced a significant surge, increasing by 44% compared to its January figures. This shift in Bitcoin trading volume indicates a renewed interest in BTC and a tendency to move away from altcoins.
The implications of this trend are evident in the differing performances of Bitcoin and altcoins. While Bitcoin has enjoyed an impressive rally, altcoins have not experienced the same level of upside. Consequently, it is reasonable to assume that the majority of the current rally will be concentrated on Bitcoin, suggesting the potential for further upward movement from this point onwards.
Is BTC Price Ready For $30K?
After establishing a solid support base above the pivotal $26,800 level, the price of Bitcoin embarked on a new rally, successfully surpassing the resistance zone at $28,400 and then surpassing the $29K mark.
This breakthrough opened the path for a sustained upward movement, carrying the price beyond the $29.5K mark. In fact, it even reached a high of $29,637, and it is currently preparing for another boost toward $30K.
As of writing, BTC price trades at $29,440, surging over 10% in the last 24 hours. The bulls are presently creating significant buying pressure, potentially intensifying the ongoing trend and propelling the price of BTC to test and validate a bullish rally above the 23.6% Fibonacci level from its current price.
If the price surges past the crucial level at $30,134, Bitcoin will continue to head toward its next resistance at $31,338. However, bears are expected to bring significant selling pressure above $30K to prevent any new rally. A rejection near the $30K level will send the BTC price to $27.5K.
Tidex Enters a New Era: Initiating Operations in Joseon
Taking a monumental stride towards the future, Tidex, a prominent player in the global cryptocurrency exchange landscape, declares its plans to establish a subsidiary in Joseon, the world’s first cyber nation-state recognized by international law. This move catapults Tidex into the vanguard of the digital revolution, reflecting its commitment to Joseon’s mission of fostering a dynamic space for trailblazing ideas and next-generation technologies.
“Tidex has always championed innovation in the crypto sphere,” shared Eric Ma, Tidex’s CEO.
“Our decision to enter Joseon represents more than a tactical initiative; it embodies our faith in the endless potential of this digital realm. We’re thrilled to join a community resonating with our vision for the future of cryptocurrencies.”
Joseon, by its revolutionary concept of citizenship and dedication to creating a borderless ecosystem conducive to technological advancements, offers a unique opportunity for progressive enterprises like Tidex. Having a footprint in Joseon enables Tidex to operate within a regulatory framework designed to stimulate growth and spur innovation.
Alongside this, Tidex has announced the listing of Joseon’s national fiat currency, the Joseon Mun (JSM), on its platform. JSM is the first unbannable cryptocurrency in the world. This listing not only fortifies the collaboration between Tidex and Joseon but also extends access for Tidex’s users to a distinct and potentially lucrative new asset.
These strategic strides by Tidex underpin its position as a pioneer in the crypto industry. By initiating operations in Joseon and introducing the nation’s currency, Tidex is not merely aligning with Joseon’s ethos but also blazing a trail for the broader industry. It’s a compelling testament to Tidex’s proactive stance and its steadfast dedication to sculpting the future of the cryptocurrency realm.
Moreover, with Joseon’s innovative business registration process, entrepreneurs can establish their corporations as smart contract tokenized entities within Joseon’s jurisdiction. These business tokens, similar to stocks, can be listed on Tidex, providing an exciting opportunity for emerging businesses and contributing to the evolution of financial markets.
For more details about Tidex’s ground-breaking venture in Joseon, please visit http://www.tidex.com
About Tidex:
Tidex is an internationally acclaimed cryptocurrency exchange known for surpassing traditional norms in the crypto arena. With a strong emphasis on innovation and growth, Tidex ceaselessly ventures into new domains to offer its users an unmatched trading experience. This pursuit of excellence has cemented Tidex’s standing as a credible leader in the crypto ecosystem.
Bitcoin Enters Crucial Levels; Is More Bearish Trend Possible for the BTC Price?
Bitcoin price has been surging ever since the beginning of 2023, and despite a couple of bearish pullbacks, it has maintained its strength. The recent upswing displayed the bull’s confidence and self-assured of elevating the price beyond the crucial resistance. Now that the price has landed in one of the crucial zones, a significant drop may also make its way out.
Each time, the BTC price visited these zones, it faced a decent rejection, dragging the price down by nearly $1000. Therefore, it is now believed that the price may rise again towards the same resistance and encounter crucial levels, which may turn out to be pretty decisive.
The BTC price has again been stuck in the parallel channel and accumulated heavily before entering the crucial resistance area. Moreover, before, breaking out of the previous highs, one can expect to witness sharp red candlesticks pointing towards the south. if we witness a correction at these levels, then a steep downfall toward the $24,000 area could be more feasible.
Therefore, it is more important now to keep a close watch on the resistance area as Bitcoin volatility is expected to spike heavily within these regions. If in case, the bulls fail to hold their strength, then a massive downpour could be imminent which may extend the narrow consolidation for some more time ahead.
What’s Next for Cardano Price As Djed, an Algorithmic Stablecoin, Enters the Market?
Cardano’s Djed is live! It hits the mainnet at times when most of them have been undergoing frightful days. Meanwhile, the launch did offer a notable push to the ADA price but it was only a short-lived rally that appears to have settled.
The token has been attempting rigorously to slice through the crucial $0.4 resistance levels but is constantly failing to do so. However, the rally continues to trade in an ascending trend, indicating that it is confident of reviving a bullish trend.
The ADA price has been trading below the 200-day MA levels since the beginning of 2022 and has never attempted to test these levels. However, since the beginning of 2023, the price has inflated and raised close to MA levels. Woefully, the price has been facing constant hindrances at these levels, but bulls appear to be poised to keep up the momentum of the rally and reach the desired target at the earliest.
Cardano Active Address See Notable Swing
However, the bears may certainly not hold the dominance for a long time as the market participants have intensified their activity on the platform. The Daily Active Address(DAA) that tracks the number of addresses contacting the platform is maintaining a notable upswing.
Presently, the levels have rebounded from the bottom at around 52K and raised beyond 85.5K, and heading towards 100K. In the meantime, the ADA price also maintained a significant upswing. With the jump in the DAA, the transaction volume also spiked, indicating the shift of focus of the market participants over the platform.
Another indicator that is pointing toward a giant price action is the MVRV ratio trending within the negative levels for quite a long time. The MVRV ratio is the comparison between the market value to its realized value that further determines whether the token is undervalued or overvalued.
Presently, the MVRV ratio has been trading within the negative levels for quite a long time, hence indicating the traders accumulating the tokens constantly as the ADA price, currently is undervalued.
Collectively, Cardano’s price appears to have been preparing for a notable rally, where-in the rally may catch up, regardless of whether the bullish market sentiments prevail within the market or not. Therefore, after accumulating some strength, the ADA bulls are believed to uplift the price beyond the pivotal resistance soon.
Snowfall Protocol enters the DeFi market, giving Lido DAO and Bitcoin Cash a run for their Money!
Snowfall Protocol (SNW) has recently made its debut in the DeFi space and has since been grabbing eyeballs for its incredible performance. Analysts and investors have now started questioning whether Lido (LDO) and Bitcoin Cash (BCH) even stand a chance against this debutante.
Let’s take a closer look at what Lido (LDO), Bitcoin Cash (BCH), and Snowfall Protocol (SNW) bring to the table.
What is Lido DAO (LDO)
Lido DAO (LDO) is designed to be a liquid staking solution for Ethereum, through which users can stake ETH tokens with no minimum deposits or infrastructure maintenance. The staking rewards from these deposits can be used without lock-ups across the DeFi ecosystem. The Lido DAO builds liquid staking services and is responsible for governing the direction of Lido.
The native utility token of Lido DAO is LDO, which is used to grant DAO governance rights, manage fee parameters and distribution, and govern the addition and removal of Lido DAO node operators.
What is Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a decentralized peer-to-peer electronic cash system that enables swift payments with high transaction capacity (big blocks), privacy, and micro fees. Bitcoin Cash (BCH) blocks can go up to 32 MB, thus ensuring faster and less expensive verification of BCH transactions even as the network keeps growing.
BCH is the native token of the Bitcoin Cash (BCH) system. Users can make Bitcoin Cash (BCH) payments directly from one person to another, just like physical money, but without any interference from centralized payment processors or banks.
What is Snowfall Protocol (SNW)
The Snowfall Protocol (SNW) is a multi-chain interoperability protocol that enables secure cross-chain transactions and asset transfers between blockchains. It is built for fungible and non-fungible tokens. The mission of the Snowfall Protocol (SNW) is to enable simple and secure participation for everyone in the DeFi and cryptocurrency ecosystem.
The Snowfall Protocol dApp allows users to swap assets across EVM and non-EVM compatible chains, thus enabling communication with all blockchains.
The governance token of the Snowfall Protocol is SNW that gives users the right to vote on improvement proposals within the Snowfall DAO. SNW also serves as a utility token, giving users access to fee discounts on snowfall bridges and entry to weekly or monthly raffles.
Which token shows more potential? LDO, BCH, or SNW?
Lido DAO (LDO) reached its all-time high price of $11 on 16th November 2022. Today, a year later, the price of Lido DAO (LDO) has dropped drastically to $1.22—a reflection of the declining interest in Lido DAO’s offerings.
Bitcoin Cash (BCH) reached its all-time high price of $4,355.62 on 20th November 2017. Today, five years since then, the price of BCH has dropped to $102.60.
SNW was launched as the governance and utility token of the Snowfall Protocol, with 95,000,000 SNW tokens available at $0.005 per coin in the first presale stage. SNW increased by 80%, reaching a price point of $0.009 and eventually going as high as $0.015 by the end of the first presale stage.
On 2nd November 2022, SNW entered its second presale stage, selling at $0.025. This success of SNW in the first two stages is predicted to remain consistent in the third (last) stage, too. Based on customer purchasing behavior, the SNW price is expected to touch $0.075 by the end of the token’s last presale stage.
The Snowfall Protocol may be a newcomer in the DeFi space, but the numbers don’t lie!
In contrast to the declining performance of Lido DAO (LDO) and Bitcoin Cash (BCH), the Snowfall Protocol (SNW) is only showing positive growth, both in terms of token price and buyer sentiment. With the price point still affordable and the protocol giving away up to 5 million tokens, now is the best time to buy into the success of the Snowfall Protocol.
Learn more about Snowfall Protocol (SNW):
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
XRP Price Enters Final Capitulation Phase, This is When it May Hit an ATH Above $4
The bulls are slowly turning in favour of XRP as the asset has been withstanding huge bearish pressure for quite a long time. The asset is among the cryptos which failed to mark a new high during the recent rally and hence the market sentiments are expected to coil up in the favour of the asset shortly.
Considering the long-term, weekly chart, the XRP price is again heading lower to test the crucial trend line for the first time in the last 4 years. Previously, the price tested these levels and surged extremely high with a rebound to mark highs above $3.5. Now, when a similar price movement is expected to occur, a rebound may raise the price above $4 to mark new highs.
It has to be noticed that the XRP price had dropped to the lowest FIB levels at 0, and after a brief consolidation, the prices rose remarkably. However, similar price movements have been noticed as the price is again heading towards the lower FIB levels. Therefore, following a bearish trend, the XRP price is expected to drop hard and reach the trend line, somewhere in the first few days of 2023.
Interestingly, it coincides with the dates of the final ruling in the Ripple vs SEC case, which may induce significant bullish momentum. Moreover, if the ruling turns in favour of Ripple, the probability of relisting XRP on the US-based exchanges may rise, which may in turn impact the XRP price positively.
However, after reaching the highs, the price is primed to witness a major dump that could engulf more than 80% of the profit gained, pushing the asset into a deep and extended bearish well.
Elon Musk Enters Twitter Headquarters With Sink–’Let That Sink In’
Elon Musk appears to be on track to fulfill a deadline on Friday to finalize his on-again, off-again acquisition of Twitter, averting a court battle over the $44 billion agreement, which he admits is excessively priced.
Musk also updated his Twitter profile to “Chief Twit” and tweeted a video of himself bringing a sink into the social network’s California offices. On Wednesday, he was walking through the office carrying a sink bowl as he awaited the end of his $44 billion takeover transaction on Friday.
“I’m excited about the Twitter situation.” I think it’s an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now,” Musk said during a recent Tesla earnings call.
Musk, who had previously expressed interest in purchasing Twitter, abruptly ended the agreement in July. The Tesla CEO said that by exaggerating the quantity of spam and false bot accounts on its network, Twitter had broken the terms of their mutual purchase agreement. Twitter filed a lawsuit to enforce Musk’s commitment to the contract he signed in April to buy the dominant social media platform after he sought to cancel the deal.
After Musk attempted to back out of the deal in April, a judge had given him until Friday to complete the acquisition. Twitter and Musk have not indicated whether the deal has been finalized. Although Musk made a grand entry at the company’s office, it was unclear at the time of his purchase of Twitter had been completed.
According to a report published last week by The Washington Post, Musk informed potential investors that, should he acquire Twitter, he intends to lay off approximately 75 percent of its 7,500 employees. Documents and unidentified sources familiar with the discussion were mentioned by the news portal.
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Quant Enters Top 30 Crypto, QNT Price Rallies 40% in 7-Days
Quant price witnessed a growth of more than 100% in the past couple of hours to mark new highs at around $213. The asset reached an 18-month high and marked its presence within the top 30 crypto assets as per the market capitalization. Meanwhile, the QNT price with the next leg up is expected to surpass Monero & Cronos which hold a $2.6 billion market cap each.
Will QNT price continue with the current upswing or the bears will take over control over the rally?
Quant is among the cryptos that have decoupled from the rest of the market sentiments and ranged high, recovering the losses incurred during the unfamous crypto crash in May 2022. The price has been ascending for over a month now and hence is expected to undergo another x or 2x jump to hit $300 in the coming days. But how?
Ever since the QNT price marked its bottom below $45 in July, it ignited a parabolic recovery and appears to have accomplished more than 50% of it. On the other hand, the RSI has surged to 86.14 and has been trending within the oversold levels for the past couple of days. Therefore, one can expect the bulls to get exhausted a bit which may drag the price slightly lower, and could be back below $200 for a while.
However, this may cause a catapult action, causing the price to rise above the gained levels and eventually surpass the first barrier at $270.16 by the end of October. Meanwhile, social sentiments are strengthening, supporting the claim of a healthy upswing in the QNT price in the coming days.
As per the data from LunarCrush, Quant price ranked number 1 among all other 3928 altcoins in the crypto space. The past social activity was extremely bullish for the asset as the mentions for the platform raised by more than 43% while the engagements by 64%. Also, the number of social contributors spiked by more than 65%.
In addition to being the number one altcoin, Quant(QNT) price was ranked 76th in terms of weekly performance, 131st in terms of price change, 50th in terms of trading volume, 14th in terms of social volume, and 8th in terms of social score. Therefore, after a minor pullback, the price is believed to regain bullish momentum and propel high.
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Ethereum Officially Enters The PoS Era, MEXC Is The First Exchange To Open ETHW Deposit
At 06:43 (UTC) on Sept. 15, 2022, Ethereum completed its merge at the block height of 15,537,393 and officially switched to the proof-of-stake consensus mechanism. From then on, Ethereum bid farewell to the seven-year proof-of-work (PoW) mini
At the same time, Ethereum had officially hard forked from Ethereum, retaining the PoW consensus. As the network token ETHW of the Ethereum forked chain, it has been actively opened for deposit and trading by various mainstream trading platforms.
At 15:20 on Sept. 15, MEXC opened ETHW deposits, which is the first cryptocurrency trading platform on the entire network to open ETHW deposits. According to the calculation of the ETHW deposit, only 49 blocks are needed to complete the deposit process, which is currently the fastest account deposit speed among trading platforms.
According to CoinGecko data, the real-time price of ETHW is 13.01 Tether (USDT), and the 24-hour trading volume reached $74.05 million. Compared with mainstream trading platforms, the comprehensive indicators of MEXC, FTX and Bybit are among the top three from the perspective of trading volume, depth and price difference. From the trading page of ETHW on MEXC, the absolute value of the price difference between bid buy and ask price is only 0.002, which is the smallest, and the trading volume and depth indicators perform better.
In fact, MEXC is not only the fastest platform to open ETHW deposits within a single day but also the first to announce its support for the Ethereum 2.0 mainnet Merge and the first to list Ethereum’s potential forked chain tokens.
According to MEXC’s announcement, MEXC has been supporting the trading of the “potential forked token ETHW” as early as Aug. 5. Currently, the token can be exchanged for ETHW, the real Ethereum network token. At the same time, the real Ethereum network token ETHW obtained outside the trading platform can also be deposited on MEXC for trading purposes.
It is understood that MEXC is a world-leading user-friendly cryptocurrency trading platform, providing one-stop services for trading spot, leveraged exchange-traded funds (ETFs), perpetual futures, NFT Index, etc. With over 7 million users worldwide, MEXC is also the cryptocurrency trading platform that owns the fastest launch of popular projects on the entire network and the most abundant tradable categories.
Also, according to CoinGecko data, MEXC currently supports more than 1,500 cryptocurrencies for spot trading, more than 120 cryptocurrency futures trading and more than 300 cryptocurrencies for leveraged ETF trading.
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Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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Terra Classic (LUNC) & Terra (LUNA) Price Enters Distribution Phase! What’s Next?
The post Terra Classic (LUNC) & Terra (LUNA) Price Enters Distribution Phase! What’s Next? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
While the crypto space is hopeful for a short-term bounce, the ongoing correction may indicate the resurgence of the bears. Terra (LUNA) price was closer to hitting a double-digit figure and Terra Classic was approaching $0.0006 when the bears quickly jumped in to squeeze the rally.
Presently, both the sister tokens are attempting very hard to regain the bullish trend, but until the markets remain bullish, these tokens could continue to be within the distribution phase.
Terra Classic(LUNC)
- The LUNC price continues to trade within the raising wedge which is generally considered as bearish
- Currently, the price is holding the lower support and may ignite a strong rebound very soon
- The upswing may carry the price back towards the monthly highs close to $0.0006 which may further result in a significant drop ahead
- The price could fall back to the lower support and if the bulls fail to hold, may eventually slice through these levels and plunge below $0.0004 levels.
- However, the price may not remain under $0.0004 for a longer time as the bulls get a good opportunity to get into the game
Terra (LUNA)
- Terra price is manifesting a complete diverse trend as despite being bearish, the asset is trading within a bullish pattern
- The asset has dropped not because the bears extracted their profit, but mainly due to the bulls taking a back-foot as the buying volume has dropped heavily
- Presently, the LUNA price needs to rebound from the lower support and hit the upper resistance, where-in the asset may find itself within a decisive phase
- If the bulls regain their strength, the price may eventually breakout out off the bullish flag to rise above $8
- On the other hand, if the price fails to hold the support, it may drop to the levels between $4 to $5 and ignite a rebound, which appears to be more unlikely at the moment
Bitcoin Enters Its Worst Month! Here’s How BTC Price Might Perform?
Statistically speaking, September was a poor month for the bitcoin market. Investor returns have been negative for the previous four September. The value of the largest cryptocurrency has dropped 20% since August 1. The technical analysis may point to a further fall in September as the trading session for today comes to a conclusion.
Since 2017, September has generally been a poor month for Bitcoin. In the previous five years, the average monthly decline in the price of bitcoin was 8.5%. Crypto analysts, however, think that this year is different since fundamentals and on-chain activity have increased along with adoption because of the price decline.
A market-wide sell-off caused the price of Bitcoin to fall below $21,000. The price of Bitcoin has been inactive for a while. Due to the low percentage of fees in total block rewards, there is less demand on the Bitcoin network. In the past, the BTC has always been oversold and bearish if the proportion of fees in the block reward falls below 3%. The negative cycle typically ends once the indicator rises above 3%.
Traders ought to hold out until the entire block reward goes over 3% in terms of fees. It will signal rising network demand, pointing to possible market strength. The network demand is still minimal, thus the new bull cycle is still some way off. Investors should therefore watch for a bearish rally to indicate a clear positive trend.
What are the Expert Opinions?
The price of Bitcoin at $19.9k, in the opinion of cryptocurrency analyst Michal van de Poppe, may further decline. A $19.5K sweep is anticipated. Additionally, he favors a break of $20.6k at shorter time frames to signal the end of a bullish trend.
Since the majority of cryptocurrencies are trading below their 20-day SMA, the crypto market is weak and stagnant, claims Crypto Birb. For Bitcoin to succeed, a break above the 200-WMA at $23k is necessary.