FTX Creditors Set to Receive Triple Payouts as Estate Recovers $7.3 Billion: Matrixport Report Reveals
FTX is the biggest fall in the crypto industry and so is the impact. But what is more complicated is the recovery process that met with severe setbacks in past. FTX, the crypto exchange currently going through a complex bankruptcy process, has seen the expected payouts to creditors triple in value over the course of this year. The anticipated recovery for FTX creditors has reached an average of 37 cents on the dollar, compared to just over 10 cents at the start of 2023, according to data from crypto services provider Matrixport.
Does FTX’s $7.3B Recovery Revive a Lost Empire?
It is quite astonishing that this recovery expectation can be attributed to FTX’s successful efforts to recover and reclaim assets under the leadership of John Ray III, a Wall Street bankruptcy lawyer. Additionally, FTX reported that it had managed to marshal $7.3 billion worth of assets, including $3.4 billion in cryptocurrencies, $1.1 billion in cash, and $200 million in real estate.
Will investors believe FTX 2.0 resurgence even if they regain the amount?
Matrixport said that while the FTX recovery process is nearly complete, a $2.1 billion claim against Binance and a $700 million lawsuit from investment firm K5 could increase creditor payouts. On the top FTX’s $500 million stake in AI startup Anthropic may expand due to Amazon’s proposed investment. However, FTX’s strategic Anthropic stake considerations add spice to the story. FTX’s financial picture is complicated by the possibility of large gains, which could change its direction.
FTX 2.0’s unprecedented opportunity
Nevertheless, the anticipated resurgence of the FTX exchange, often referred to as “FTX 2.0,” could also hold promise for creditors. Successful recapitalization of an exchange has been achieved before, with creditors becoming equity owners, potentially benefiting claims holders. Experts also suggest that to resolve its bankruptcy, FTX could potentially conduct an IPO using Anthropic Tokens distributed to creditors.
It is worth noting that, the growing optimism regarding asset recovery has generated significant demand for FTX creditor claims in over-the-counter markets. Distressed asset investors are actively seeking FTX claims, with the claims market seeing a surge in activity, making FTX claims one of the most sought-after assets in the bankruptcy claims market.
A Ray of Hope for Creditors?
In the ongoing process, FTX’s bankruptcy case has been described as one of the messiest in U.S. history, with founder and CEO Sam Bankman-Fried facing a criminal trial next week. Despite the complexity of the case, the improved recovery expectations have fueled interest in FTX claims among investors. This development is a positive sign for FTX creditors, as they anticipate higher payouts than previously expected.
Making a sharp recovery over the past few weeks, the ALGO price is signaling a trend reversal. Moreover, the uptrend reclaims many significant price levels that support the prolonged uptrend theory in Algorand prices.
However, the current market price of Algorand is extremely far from its all-time high with the threat of a sudden supply inflow.
Check out our ALGO price prediction for 2023-2030 now to see what the future holds for Algorand!
The 17% recovery rally in ALGO price breaks the long-forming descending triangle in the daily chart. Moreover, the uptrend surpasses the 50-day EMA by a mark, but the prices must be sustained to confirm the breakout.
The ALGO price is currently trading at $0.1012, slightly above the psychological mark of $0.10, with an intraday fall of 0.78%. Moreover, the 4.72% jump forming a bullish engulfing candle yesterday adds brownie points to the breakout theory.
With the 50-day EMA breakout signaling a major trend reversal opportunity for Alogrand, the sideline buyers are ready to enter the game. Moreover, the recent spike breaks multiple previous spikes, which reflects the strong underlying bullish sentiments.
RSI indicator: The RSI line is moving higher above the halfway line, which resonates with the increasing bullish momentum.
MACD indicator: With the MACD and signal lines rising higher, the indicator is projecting a bullish trend for ALGO price.
Will ALGO Price Sustain Above $0.10?
The bulls can find tremendous uptrend momentum if ALGO price sustains above the $0.10 crucial mark. Moreover, the triangle breakout supports the uptrend possibility, increasing the chances of skyrocketing this week.
If the prices sustain above $0.10, the uptrend can reach higher to the $0.14 mark.
On the other hand, if the price fails to sustain, it could start a new downtrend. Traders can expect the Algorand price to find a new low of $0.081.
Amidst the recent bustling market, Bitcoin price demonstrated a notable 2.74% surge last Tuesday. This uptick has further emboldened the bullish momentum, thrusting Bitcoin price past the $26,600 threshold, marking an impressive 5.88% increase over the past week.
Yet, the weekend witnessed a slight deceleration in trading volume, hinting at a subdued bearish sentiment, mirrored by the appearance of a few doji red candles.
As we enter new week, Bitcoin price refuses to bow down, marching on with an intraday surge of 0.51%. At present, it’s trading hands at $26,670, forming an optimistic bullish candle, mitigating the minor pullback seen over the weekend.
A close inspection of the 50 and 200-day EMAs reveals a looming convergence, flagging potential for a death cross. Concurrently, an impending resistance trendline hovers just above the interplay of the EMAs as the next bearish hurdle for Bitcoin price.
Contrary to the daily chart, the technical 4-hour chart shows the high possibility of a golden crossover with the recent recovery. The consolidation zone of Bitcoin price is pinned between $26,274 and $26,730. A breakout in either direction will fuel Bitcoin’s next big move.
However, the upside breakout is ready to face the opposition from the resistance trendline and the EMAs.
Relative Strength Index: The daily RSI presents a bullish front as it bounces above the halfway line.
MACD: MACD and signal lines maintain a positive trend with rising bullish histograms.
Therefore, the momentum indicators display a bullish point of view.
Where is the Bitcoin Price Heading?
With multiple lower price rejection candles, the bullish breakout possibility increases for the Bitcoin price trend. Considering the range breakout rally surpasses the resistance trendline breakout, the BTC price can reach the $30,000 mark.
On the bottom side, a breakdown below $26,274 can lead to a nosedive to $25,600 or $24,900.
As most traders know, the cryptocurrency market is often marked by volatility, with tokens experiencing both highs and lows. But Cardano (ADA), Polkadot (DOT), and Everlodge (ELDG) – these tokens stand out as potential game-changers. This article dives into these three prominent projects and explores the potential for a bullish upswing.
Cardano (ADA): Showing Bullish Signs
Cardano (ADA) has long been a darling of the crypto community due to its unique approach to blockchain technology. With its focus on sustainability, Cardano has established itself as a robust smart contract platform. Despite recent market fluctuations, Cardano has shown resilience, and many experts believe a bullish reversal is on the horizon.
In recent Cardano news, the project lover named ADA Whale shared that the year-over-year inflation of ADA is decreasing. Currently, at epoch 435, this metric stands at 3.6%, a significant reduction over time.
This decline in inflation aligns with Cardano’s long-term commitment to sound tokenomics, making it an attractive choice for investors seeking sustainability. Due to these reasons, market analysts predict that the Cardano price will reach $0.37 by the end of 2023.
Polkadot (DOT) is another project with immense potential. To clarify, the Polkadot parachain model allows multiple blockchains to operate together, fostering collaboration and scalability.
Recently, the migration of NFL Rivals to the Polkadot network has marked a significant milestone. The game recently achieved an all-time high in daily active users, reflecting Polkadot’s blockchain infrastructure’s growing interest and adoption.
This expansion of real-world use cases within the Polkadot ecosystem demonstrates its capacity to support innovative projects and attract a broader user base. Therefore, experts in the field forecast the Polkadot crypto price will reach $6.64 by December 2023.
Everlodge (ELDG): Set To Experience a Massive Surge
Everlodge (ELDG) is an upcoming blockchain project to revolutionize the real estate market. It offers a decentralized marketplace for property owners and travelers, eliminating intermediaries and reducing costs.
Moreover, this decentralized marketplace will digitize and mint high-end villas and hotels into NFTs, which are then fractionalized. As a result, it opens up the real estate market to everyone, not just those with high incomes. Now, anyone can become a fractional owner of a property on the blockchain for just $100. Plus, once the property value increases, so will the NFT price.
Additionally, real estate investments are known for their illiquidity. It can take months or even years to sell a property. Everlodge introduces liquidity to the market by allowing users to trade real estate-backed NFTs on secondary markets. This means that investors can buy and sell their real estate holdings quickly, providing a new level of liquidity.
The imminent launch of Everlodge presents an opportunity for early investors to get in on the ground floor. Moreover, if the ELDG native token manages to secure a listing on Uniswap or a Tier-1 CEX, it could see a substantial 30x pump. Currently, one ELDG token costs only $0.016 as it is in Stage 2 of its presale – a 60% rise from its starting price.
Find out more about the Everlodge (ELDG) Presale
In the first half of September, Ripple’s $XRP embarked on a bearish rally, while Hedera ($HBAR) exhibited a similar scenario by declining substantially during the same time. As experts investigate both coins’ downtrends, all eyes are set on Domini.art ($DOMI), a promising beginner cryptocurrency set to deliver massive gains.
But before we discuss $DOMI and why it might be a good crypto, let’s look at $XRP and $HBAR to determine the best coin to invest in.
$XRP Fails to Impress Investors
On August 24, XRP Ledger had crossed over 82 million ledgers, reaching a significant usage milestone for the Ripple ecosystem. Experts speculated that this news might cause $XRP’s value to surge by boosting investor confidence and interest in the token.
However, despite the positive predictions, $XRP failed to realize the expected gains. Between August 24 and September 10, its value dipped by 5.3% from $27.8 billion to $26.6 billion. Investors might attribute the recent downtrend to a broader negative crypto sentiment because the SEC delayed its decision on Bitcoin and Ethereum ETFs.
Although $XRP struggled to surge, investors are still hopeful for a bullish movement in the future. As of September 10, some of $XRP’s monthly indicators, especially Momentum 10 and SMA 10, were positive, signaling a possible bullish price reversal.
While $XRP failed to show bullish action $DOMI is set to grow exponentially throughout its presale.
Domini.art ($DOMI) Investors Set to Benefit from 633% Gains Following Presale
Besides democratizing access to blue chip art, Domini.art also offers consultation to its users. Domini.art carries out in-depth market analysis to offer users personalized recommendations about the best NFTs to buy to help them meet their investment goals.
Apart from providing enticing perks to its users, Domini.art further incentivizes its token holders with exclusive perks such as special discounts on Domini.art’s transaction fees and tiered memberships. In addition to providing token holders with these exclusive privileges, Domini.art is set to grow remarkably throughout its presale.
As of September 10, 2023, $DOMI had progressed to the Beta Stage of its presale. Therefore, investing in $DOMI now can benefit from a 633% surge from $0.0021 to $0.0154 when the presale concludes. Furthermore, if you want the maximum returns on your investment, use the promo code “DOMI10” to get a 10% bonus.
While $DOMI is set to register massive gains, $HBAR embarked on a bearish rally.
Hedera ($HBAR) Struggles to Gain Traction
On September 5, 2023, Hedera sparked investor’s curiosity by crossing the transaction count of 20 billion. Experts speculated that this news might boost investor confidence and help $HBAR to embark on a bullish rally.
However, Hedera failed to initiate a bull run. Between September 5 and 10, the $HBAR price dropped by 2.9% from $0.0488 to $0.0474. Investors might attribute the recent downtrend to surging competition between the top altcoins and a negative crypto sentiment due to the SEC’s delayed decision on Bitcoin ETFs.
However, investors remain optimistic about Hedera’s future despite the negative $HBAR price movement. As of September 10, 2023, some of Hedera’s monthly indicators signaled a “Buy” position, indicating that the $HBAR coin might exhibit bullish movement in the coming days.
Learn more about $DOMI here:
Is crypto entangled in an ego war, what’s happening with SEC’s legal setbacks, the recent cases are a huge cause of worry for investors and big institutions who are afraid to enter the regulatory muddle. At this time, Gary Gensler’s call is larger than expected; the meeting may make key choices.
Get insight by diving in.
Gensler to Testify Before Two Congress Panels
Notably, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is set to appear before two congressional committees in September 2023. Although the official announcement does not say that the cryptocurrency market would be the main topic of discussion, it is likely that it will be the case. This follows the SEC’s recent legal defeats, such as the summary judgment in the XRP action and the success in the Grayscale spot Bitcoin ETF lawsuit.
With the #FireGaryGensler trend growing, the upcoming meeting’s agenda remains uncertain. People are eager to see if it will address crypto and Gensler’s involvement in legal proceedings.
What to Expect in the Meeting?
Gensler’s upcoming hearings will involve the U.S. Senate Banking Committee GOP and the U.S. House Committee on Financial Services Republicans. One key aspect of these hearings is the SEC’s plans regarding the approval of spot Bitcoin ETF applications from companies like BlackRock, Ark Invest, Fidelity, and Bitwise. The meeting is also very crucial as there will be added pressure on the SEC post-Grayscale victory to prove and clarify its stance on these applications. Moreover, Grayscale is aiming to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF.
In this context, Gensler has softened his aggressive take on crypto. Changing his stance from positive to neutral in an interview following the Ripple vs. SEC lawsuit summary judgment. He indicated that the SEC commissioners would make the decision to appeal the court’s ruling collectively, signaling a shift from his previous outspoken approach against crypto businesses.
The crypto wants him to resign only then a fair and transparent regulatory framework can be prevailed.
Impact on Crypto Market
Meanwhile, such events are directly related to crypto movements as they decide the fate of the trending tokens. The price of XRP could potentially rise to $1, building on the recovery that followed Grayscale Investments’ successful appeal against the SEC. The cross-border money remittance token has experienced a 2.8% increase to $0.53, with substantial trading volume and market capitalization. The king crypto BTC also surged to $28k after Grayscale’s SEC victory, but it might dip to $25k again.
Amidst the recent buzz in the crypto space, the Shibarium launch stands out, promising exciting developments for Shiba Inu. What can investors expect from SHIB in the near future? Meanwhile, Watchvestor (WVTR) is launching as one of the most innovative projects in the crypto space.
How Will Shiba Inu (SHIB) React To the Shibarium Launch?
Shibarium is Shiba Inu’s layer-2 scaling solution designed to be more scalable and cost-effective than Ethereum. After months of expectations, the mainnet of Shibarium has finally launched. But what should investors expect from Shiba Inu?
The mainnet of Shibarium will allow Shiba Inu users to seamlessly transfer their tokens between Ethereum and the layer 2 network. In addition, it will support the development and deployment of various decentralized applications (DApps) built on Shibarium.
With this, crypto experts have predicted that the price of Shiba Inu could increase as more DApps are launch. However, at the time of this writing, the Shiba Inu coin is down by 8.9% in the last 24 hours and now trades at $0.000008428.
ShibaSwap, a decentralized exchange; ShibaNet, a decentralized social network; and ShibaArt, a platform for digital art are all in development now. When these projects launch, experts have predicted that the Shiba Inu price could rally to a high of over $0.00001500 this year.
Watchvestor: Your Access To Own Fractional Luxury Watches
Although the crypto market has been bearish, Watchvestor (WVTR), a new project has been growing in popularity due to its unique use case. Watchvestor is a new marketplace that allows users to invest in fractional ownership of luxury watches using NFT.
The NFT fractional ownership enables multiple investors to own a share of an asset, in this case, luxury watches, without having to buy the whole thing. Using this fractional ownership Watchvestor reduces the entry barrier to entry from thousands of dollars to just $10.
In addition, because it increases the liquidity of high-value assets through more investors, Watchvestor has been poised to reach new heights. Watchvestor aims to revolutionize how luxury watches are bought, sold, and invested forever.
The Watchvestor project has laid down a clear vision of what it could achieve and is backed by a strong team. The project’s presale has just started. It allows investors to get in early on what might be the next big thing in crypto. At the time of this writing, its utility token, WVTR, trades at $0.03 and is about to reach highs of $0.1 at launch.
Find out more about the Watchvestor (WVTR) Presale Today:
Telegram Community: https://t.me/WatchvestorOfficial
The post KuCoin is Set to Introduce Mandatory KYC Procedures for All Users! appeared first on Coinpedia Fintech News
KuCoin, a leading cryptocurrency exchange, is set to introduce mandatory identity verification procedures known as Know Your Customer (KYC). The platform announced that all users will be required to complete the KYC process to access certain parts of the exchange. KuCoin has cited the need to comply with global regulatory requirements and protect users from potential hacking attempts and fraud. The personal information will also assist the exchange in improving its customer support services. The mandatory verification process will be rolled out gradually, and users will be given enough time to complete it.
Top Altcoins To Watch Next Week: Ripple (XRP), Litecoin (LTC) And Binance Coin (BNB) Prices Set For An Upswing
The crypto market recently survived July’s CPI data, leaving Bitcoin to consolidate near the $29.5K mark. The SEC’s recent delay on spot BTC ETF applications has left investors with no choice but to invest in altcoins. Over the last week, meme coins dominated the market with Shiba Inu (SHIB) leading the momentum. However, altcoins like Ripple’s XRP, Litecoin (LTC), and Binance Coin (BNB) are set to capture attention next week.
Altcoin Season Is Coming, Predicts Expert
In the last three weeks, the daily altcoin market cap has been hovering around $230 billion. For the h&s pattern to complete, it needs to surpass the $300 billion mark, said a prominent analyst Olszewicz.
Olszewicz noted a potential triple bottom or inverted head-and-shoulders in the altcoin market cap but remains skeptical about the pattern amidst this consolidation. He’s waiting for a move above $300 billion. The current chart suggests two outcomes: either the market cap decreases, negating the inverse head-and-shoulders pattern or it exceeds $300 billion, indicating the start of an altcoin surge.
Ripple (XRP) Price Analysis
XRP retreated from the 50-day EMA at $0.65, suggesting that bears are attempting to make this a resistance point. Currently, XRP price is consolidating between EMA lines, signifying that buyers are preparing for a storm next week.
The critical support to monitor is the $0.6 level. If this support breaks, selling pressure might intensify, pushing the XRP price towards the $0.56 mark.
Alternatively, if the price surges from the 50-day EMA, it might stabilize and hover between these averages for a while. A successful rise and settling above $0.67 would hint at a bullish trend, potentially leading to a recovery rally to $0.73.
Litecoin (LTC) Price Analysis
Litecoin (LTC) is facing challenges to initiate a rebound from its bearish zone. However, buyers are successfully defending the immediate $82.5 support level, signifying a robust recovery rally next week. Nevertheless, the declining EMA trend lines and the RSI level trading near the midline suggest a bearish pressure on the price chart.
If the LTC price falls and consistently remains below $81, it would indicate a renewal of the bearish trend. Following that, the supports to watch are at $79, then $75.
On the flip side, bulls might be preparing for a breakout above $85. If the market’s bulls drive the price past this level, it could indicate the commencement of a more potent recovery, potentially reaching $95—a point where intense selling pressure from bears might emerge again.
Binance Coin (BNB) Price Analysis
BNB price has triggered a robust recovery rally in the last few hours, aiming to gain its old momentum. Bulls bought heavily near the low of $238.
If the BNB price declines to the triangle’s support line, a surge in selling activity might occur. It’s crucial to monitor this level as a descent below this point could initiate the next downward phase towards $228, where the bulls are anticipated to capitalize on the dip.
If the breaks above the triangle pattern next week, the price might trigger solid purchases. This momentum might push BNB toward $260.
The cryptocurrency community was sent into a flurry of speculation after a fake announcement from the U.S. Securities and Exchange Commission (SEC) claimed that the commission had decided not to appeal the Ripple case. The fabricated news spread like wildfire across various online platforms, leaving investors and enthusiasts questioning the authenticity of the information.
Legal Experts Clarify Situation After Fake SEC Posting
In response to the confusion, Jeremy Hogan, a respected lawyer at Hogan & Hogan, took to Twitter to clarify the situation. Hogan’s tweet debunked the fake SEC posting, stating unequivocally, “This SEC posting is fake.” The attorney’s intervention aimed to provide some clarity amid the misinformation that had been circulating.
The fabricated news initially hinted at a significant development in the ongoing legal battle between the SEC and Ripple Labs. The alleged decision not to appeal the case raised questions about the potential implications for the broader cryptocurrency landscape, particularly considering the prominent position of Ripple’s XRP in the market.
Jeremy Hogan, known for his insights and analyses on legal matters related to cryptocurrencies, took the opportunity to share his perspective on the situation. In his tweet, Hogan acknowledged the fraudulent nature of the announcement while also providing valuable insights into the possible course of action the SEC might take.
Hogan hinted that if the SEC were to file an interlocutory appeal, it could potentially happen within the current week. His informed response served to reassure the community that, despite the false announcement, there are legitimate legal processes and timelines that should be considered.
Nevertheless, there have been rumors that the SEC might soon appeal regarding the Ripple lawsuit, as they seem to be clearly unhappy with the judge’s early decision.
Coinbase Global Inc. has made headlines once again. This time, the world’s leading crypto exchange is making waves with its intention to buy back a portion of its junk bonds. The move comes as Bitcoin, the reigning monarch of cryptocurrencies, flirts with its highest valuation for 2023.
Understanding the Numbers
Bitcoin, with its heart-thumping volatility, recently touched a notable price of $31,386 in July, a commendable ascent from its previous year. At the close of trading on Monday, the crypto giant was valued at $29,204. Amid this optimistic backdrop, Coinbase is eyeing a redemption of its 3.625% notes due October 2031. Investors holding these bonds could find themselves pocketing between $615 and $645 for every $1,000 of the principal amount.
The bond market has responded favorably to this turn of events. The debt in focus has rallied to 62 cents on the dollar, showcasing a resilient recovery from its all-time low of 52 cents back in November.
Why Are Companies Buying Back Debt?
It’s not just Coinbase in the buyback arena. Rising interest rates are nudging corporate entities to repurchase debt, especially since refinancing is becoming an increasingly costly affair. Recent moves by Warner Bros Discovery Inc. and Verizon Communications Inc. underscore the growing trend. The former plans to reclaim bonds worth $2.7 billion maturing between December 2023 and June 2024. Meanwhile, Verizon is gearing up for a staggering $1.5 billion bond buyback, stretching the maturity dates between 2024 and 2036.
The Bigger Picture: Speculation & The Role of SEC
The market is rife with speculation on the real motives behind the SEC’s critical stance towards crypto giants like Binance and Coinbase. Some argue that the heart of the matter may revolve around liquidity. With the U.S. government rolling out an impressive $170 billion in bond offerings this week and more in the pipeline, questions arise. Is the liquidity crunch pushing the government’s hand to get these exchanges to invest in junk bonds?
Lately, Cardano has been experiencing a decline in price value, raising concerns among investors. Meanwhile, amidst this changing landscape, Borroe has emerged as a novel and promising addition to the Web3 ecosystem.
This article will explore Borroe’s unique features and how it provides a solution for businesses and creators seeking funding. Additionally, we will explore the current state of Cardano’s DeFi and how it compares to the rising potential of Borroe.
Borroe Set for Stage 1 of Presale: Time to Buy?
Borroe has recently emerged as a standout player in the fast-paced world of cryptocurrency. With a focus on leveraging cutting-edge AI and blockchain technology, Borroe’s unique funding marketplace connects content creators, businesses, investors, crypto enthusiasts, and other Web3 participants.
Through the platform, users can use future earnings from invoices, royalties, and subscriptions to raise immediate funds. An innovative aspect of Borroe’s approach is using non-fungible tokens (NFTs) to represent outstanding, recurring or future revenues, making it easy for businesses to raise funds by selling these NFTs at a discounted price within the Borroe marketplace.
One of the key benefits of choosing Borroe is the platform’s comprehensive understanding of various business models and unique challenges. With Borroe, entrepreneurs can maintain ownership and control over their ventures while gaining access to much-needed additional funding.
Furthermore, the platform’s acceptance of various payment methods, including major cryptocurrencies, attracts many investors and crypto enthusiasts, fostering a diverse and engaged community.
Initially launched at an affordable price of $0.01 for the native token, $ROE, the presale has already gained substantial traction. The stage rapidly sold out and has advanced to the first presale stage, marking a 25% price increase.
Over 30% of tokens have already been sold in a matter of days, creating hype in the investing community. As Borroe proves its potential in the Web3 landscape, now could be the perfect time to consider participating in its presale and become part of the future of decentralized finance.
To top it all off, $ROE will increase by 50% in the next stage and is predicted to reach 300% returns by the end of all eight presale stages, delivering hefty potential returns to early investors.
Cardano’s DeFi Is Rapidly Shrinking
In the burgeoning DeFi landscape, Cardano has recently faced some challenges. Since being hit by the SEC in June, ADA has been surrounded by bearish sentiment.
Also, the declining daily trading volumes signalled a lack of enthusiasm among ADA investors ahead of the anticipated Mithril upgrade, which enhanced the network’s efficiency and expanded its application capabilities.
The Mithril upgrade, recently launched, is expected to revive the ADA cryptocurrency in the following period, although the price still struggles at press time.
The Bottom Line
In the ever-changing landscape of DeFi, Cardano’s DeFi ecosystem is experiencing a shrinking phase, as declining trading volumes and price drops have impacted investor sentiment. In contrast, Borroe’s ROE is increasing by leaps and bounds, providing an ideal moment for investors to seize this innovative opportunity.
Overall, Borroe ($ROE) is a promising addition to the Web3 ecosystem. Its innovative marketplace connects creators and businesses with supportive communities of investors seeking higher returns. This innovative community is the first of its kind to help innovative Web3 businesses connect with investors willing to fund their favourite brands.
With its innovative use of NFTs and commitment to transparency, Borroe offers a unique opportunity for investors seeking to be part of the Web3 revolution.
Explore the Borroe ($ROE) Presale:
Bitcoin’s price has surged amidst the ongoing low volatility in the cryptocurrency market. The catalyst behind this remarkable move is none other than software developer firm MicroStrategy, which has just unveiled its ambitious plan to raise up to a staggering $750 million.
But why? Well, the company intends to use the proceeds to buy more Bitcoin, among other purposes, as disclosed in a filing with the U.S. Securities and Exchange Commission late Tuesday.
Intention Behind This Massive Capital Infusion? To Buy More Bitcoin!
MicroStrategy, led by the visionary Chairman Michael Saylor, has been a vocal advocate for Bitcoin, consistently expanding their cryptocurrency portfolio, regardless of market conditions.
The company announced officially to sell its stock to Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC. The net proceeds from this offering will be utilized for general corporate purposes, including acquiring more Bitcoin and supporting working capital, subject to market conditions.
However, by selling additional stock, the software company can support its rising Bitcoin holdings. As publicly traded firm MicroStrategy’s stock sales make it easier to raise funds, which should improve its Bitcoin investment.
As of July 31, the company has 152,800 bitcoin, which is currently worth around $4.5 billion. This latest move showcases their unwavering faith in the future of Bitcoin and the transformative potential it holds.
How Crypto Market Reacted to the News?
The market has reacted positively to this momentous announcement, propelling not only Bitcoin’s price higher, but also raising the bar for Ethereum and Dogecoin. The leading cryptocurrency has broken through key resistance levels, gaining momentum and capturing the attention of investors worldwide.
Notably, Bitcoin’s price has surged following the news, breaking through important resistance levels at $29,188, $29,234, and $29,342, turning them into support. The cryptocurrency has also reached a significant barrier at $29,789, which was last seen around June 24.
Overall, MicroStrategy’s bold move is sending ripples through the financial landscape, reaffirming Bitcoin’s status as a viable alternative investment. As more corporations and investors follow suit, the cryptocurrency ecosystem is poised for a potential surge in interest and adoption.
Crypto markets have to the relief of many long-term supporters decoupled from TradFi markets, and the deep correlation, especially observable during the Covid period, has ended. Cryptos now perform independently of traditional equities and have begun breaking out.
Analysts keenly observe the breakout of lower-cap altcoins and new DeFi projects, which they expect to be some the 2023’s top gainers as sentiment heats up. The favourable legal decision for Ripple (XRP) has given another low-cost cross-border solution Stellar (XLM), an uplift, which now aims for $0.20 after a record-breaking surge. And attention remains heavily focused on DigiToads (TOADS), with the presale set to break $7 million.
DigiToads (TOADS) Set to Break $7 Million Presale
DigiToads has raised a staggering $6.5 million throughout its presale, and the innovative mechanisms employed throughout the ICO have undoubtedly played a role in this success. The doxxed team behind TOADS has leveraged a dynamically increasing price, meaning more demand leads to price increases, and the presale has no vesting period.
Several early participants have gained 400% already. Participants in the current 10th stage will purchase $TOADS for just $0.05 and lock in a better price than those who buy after launch.
At launch, $TOADS will trade at $0.055, and at this point, analysts expect the native token to break out into a fierce rally as the payouts from the ecosystem start and the market reprices $TOADS ownership due to capital inflows.
The DigiToads’ ecosystem, The Swamp, features several angles designed to enrich holders. The NFT Staking mechanism allows users to earn income from the protocol’s digital collectibles collection, making them, according to NFT enthusiasts, some of the best NFTs to invest in currently.
Toad-Cade, the play-to-earn game, will let users battle toads in the arena opening up another avenue to generate real cash. All these rewards will be deflationary thanks to the Toad Tax burning 2% of the transaction causing $TOADS to have a down-only total supply. This scarcity should become one of the protocol’s most significant value accrual mechanisms over an extended time frame, leading to bullish predictions forecasting the potential for a 50X before the year closes.
Stellar (XLM) Aims for $0.20
Stellar (XLM) provides an open-source network for the transfers of value. The network contains digital representations of all major fiat currencies, allowing users to send value around the globe within minutes for fractions of a cent.
The premise behind Stellar (XLM) is similar to that of Ripple (XLM), explaining why $XLM has rallied due to $XRP being declared not security. Institutions and governments will be more inclined to use the Stellar (XLM) system now that the regulatory uncertainty has cleared.
The key target for $XLM is $0.20, and analysts forecast it eclipsing this target by the end of Q3. Their price predictions for 2024 forecast Stellar (XLM) trading between $0.25 and $0.31. They cited the requirement of $XLM for all users to transact on the network when deeming Stellar (XLM) one of the altcoins to watch in the coming weeks.
Closing Thoughts: Altcoin Season Begins?
The extensive rally in altcoin price signals the start of a renewed altcoin season. Seasoned crypto investors have already tilted their portfolios heavily towards these smaller caps, and new ICOs like DigiToads have become clear favourites in the current market conditions. Join the TOADS presale today and discover the gains possible for a small cap entering price exploration in bullish market sentiment.
Binance, the world’s largest cryptocurrency exchange, is set to make a grand entrance into the Japanese market with its highly anticipated launch in August. According to local crypto media outlet Coinpost, Binance Japan is gearing up to surpass its domestic rivals by initially offering an impressive array of 34 tokens.
Coinpost’s report also reveals that Binance Japan will mark a momentous milestone by listing its native token, “Build and Build (BNB),” in Japan for the first time. This move is expected to add significant depth and accessibility to the Japanese crypto ecosystem.
In an announcement made on August 1st, Binance divulged crucial details about its services in Japan. The exchange will introduce a “cryptocurrency exchange (spot trading)” that facilitates transactions between users on a trading board and a “cryptocurrency exchange” that displays real-time selling prices, akin to a vending machine.
Binance will not offer leveraged trading initially
It is essential to note that Binance Japan will not be offering leveraged trading initially, a decision prompted by the strict regulatory requirements for obtaining a “Type 1 Financial Instruments Business” license in Japan.
With an impressive lineup of 34 cryptocurrency tokens, Binance Japan is poised to outshine major domestic competitors such as Bitbank, GMO Coin, and Coincheck, which currently handle 30, 26, and 22 tokens, respectively. This market dominance signifies Binance’s determination to position itself as the go-to platform for Japanese traders seeking a diverse and dynamic range of assets.
As Binance founder and chief executive, Changpeng Zhao expressed in a Twitter video in July, re-entering the Japanese market has been a top priority for the exchange. With its extensive token listings and the inclusion of BNB, Binance Japan is expected to become a driving force in promoting cryptocurrency adoption and facilitating seamless trading experiences for Japanese users.
Top Altcoins To Watch Next Week: Litecoin (LTC), Solana (SOL) And Ripple (XRP) Prices Set For Possible Surges
Altcoins are indeed making waves in the crypto market, and the recent activities of Litecoin (LTC), Ripple-affiliated XRP, and Solana (SOL) are clear indicators of this trend. In the past 24 hours, all three have experienced notable gains, signaling a potential shift in the crypto landscape. As Bitcoin’s (BTC) dominance begins to waver, the spotlight is shifting towards these promising altcoins next week, with analysts predicting a notable surge in the price chart.
Altcoins Take Spotlight As BTC Price Consolidates
Despite the Federal Open Market Committee (FOMC) meeting and the anticipated 0.25% rate hike, the crypto market showed little volatility. Ethereum (ETH) and Ripple (XRP) saw modest gains, while Bitcoin remained stable. The market appears to have already factored in these macroeconomic events, returning to regular trading activity post-meeting.
As a result, Bitcoin’s consolidation below $29.5K has paved the way for leading altcoins like LTC, SOL, and XRP to outperform next week.
Litecoin (LTC) Price Analysis
Litecoin price is showing increased volatility in recent weeks as the halving event is set to take place in early August. Litecoin experienced a downturn from the 20-day EMA at $92, dropping below $88. However, bulls defended further decline as the price reversed to the initial resistance zone of $92.
By next week, the price needs to be driven and maintained above $95. This could initially lead to a rise to $106, followed by a potential rally toward the key resistance level at $115.
On the other hand, LTC might decline sharply ahead of the halving event if the price dips and breaches the $87 mark. The LTC price could continue its downward trajectory towards $81.8, a level that may lure buyers.
Solana (SOL) Price Analysis
Solana’s value is currently consolidating near the $25 mark, but it registered a significant gain in the last seven days. The current consolidation may be a sign of a bullish storm ahead as bulls are entering the market.
The market’s bullish investors bought into this dip, and they might soon push the price upward and break the current consolidation. If the SOL price breaks above $26, it will create more buying confidence, potentially sending the price to test crucial resistance at $30. However, the bears are all set to put up a strong fight there.
On the other hand, a decline below $22 will bring a consolidation toward $18-$20.
Ripple (XRP) Price Analysis
Despite XRP’s solid bounce back recently, bulls failed to capitalize on the momentum, indicating a decrease in demand as prices rise.
By next week, the bulls will try to push the price above the 50-day EMA and surpass $0.75. If this happens, it would imply that bulls are taking advantage of the dips to buy. This could result in the price surging toward $0.85.
Conversely, the bears might drive the price below $0.7, thereby gaining dominance. If successful, the XRP price might experience a significant drop to the support of $0.65, potentially increasing the probability of a drop to $0.56.
The world of cryptocurrency investments is constantly evolving, and with each passing day, new opportunities emerge that have the potential to reshape the landscape. As some well-known tokens like Cardano (ADA) and Polkadot (DOT) face challenges and fluctuations, a promising star is rising in the form of Borroe ($ROE).
Institutional investors, renowned for their foresight and strategic vision, are now focusing on this game-changing platform. Let’s explore why Borroe is poised to outpace its competitors and garner great interest from these professional investors.
Borroe: A Platform with a Vision
At the heart of Borroe is a grand vision. The platform integrates cutting-edge technologies and innovative solutions to redefine fundraising and investment opportunities. Its AI-powered risk assessment ensures a secure participant environment, inspiring confidence among investors seeking a safe haven for their capital.
Unlike traditional fundraising methods, Borroe introduces future recurring revenue NFTs, empowering buyers to directly trade and sell with each other on secondary markets, fostering a truly decentralized and peer-to-peer ecosystem.
With streamlined payment solutions and a focus on user-friendly experiences, Borroe sets the stage for a new era in cryptocurrency investments, enticing institutional investors with its potential for significant returns and sustainable growth.
Borroe’s Competitive Edge
As institutional investors seek out the best crypto to buy today for long-term gains, Borroe stands out as a compelling choice for several reasons:
1. Robust Governance with $ROE Tokens: The platform’s governance token, $ROE, grants holders a prominent role in shaping the future of Borroe. This powerful feature allows institutional investors to participate in vital decision-making processes actively and influence the direction of the platform, making $ROE tokens a valuable asset for strategic-minded investors.
2. Premium Features and Priority Support: $ROE token holders enjoy exclusive access to premium features, such as advanced analytics and priority customer support. For institutional investors who value efficiency and prefer a competitive edge, this premium offering can be a significant attraction.
3. Secure and Audited: Top smart contract auditing platform Block Audit has meticulously audited the $ROE token, instilling confidence in institutional investors who prioritize safety and reliability.
4. Incentives for Growth: Borroe incentivizes growth through various reward mechanisms, including invoice buying, selling, and repayment rewards, further enticing institutional investors looking for long-term opportunities.
Institutional Investors’ Interest Soars
The increasing interest of institutional investors in Borroe is a testament to the platform’s potential to revolutionize the crypto investment landscape. With Cardano (ADA) and Polkadot (DOT) facing uncertainties, these seasoned investors seek the next ample opportunity for substantial profits. Borroe’s unique approach and the promise of a peer-to-peer ecosystem have garnered significant attention, leading to an influx of institutional investments.
Join the Future: Borroe’s Unmissable Opportunity
As Borroe ($ROE) continues to attract institutional investors, now is the time for individual investors to join this exciting journey. Don’t miss out on the chance to be part of a revolutionary platform set to outpace its competitors and redefine the rules of cryptocurrency investments.
Embrace Borroe today and position yourself for unparalleled growth and prosperity as the new era of decentralized finance dawns upon us all!
Explore the Borroe ($ROE) Presale:
Meme coins are having a renaissance period at the moment, with tokens like PEPE seeing massive growth. Of course, PEPE has since plummeted, but there are a few other tokens that look like they have more staying power.
Currently, the crypto community is enthusiastically exploring three meme coins, namely Chimpzee (CHMPZ), Evil Pepe Coin (EVILPEPE), and Wall St Memes (WSM). Each of these tokens has distinct value propositions that attract investors for different reasons. Let’s delve into the details of these tokens and why they are crypto tokens with 10x potential in the near future.
Chimpzee is Saving The Planet
Chimpzee (CHMPZ) represents a meaningful initiative that addresses crucial concerns like wildlife preservation and climate change while providing users with passive income opportunities. The project team demonstrates their dedication by allocating 10% of the token supply and a portion of profits to organizations actively working to tackle these urgent challenges. Chimpzee also emphasises raising awareness and funding for conservation projects, as evidenced by their ambassador and community outreach program.
At the heart of the Chimpzee ecosystem lies the Chimpzee shop, serving as a centralized hub offering a wide range of goods and commodities. Additionally, the NFT marketplace enables users to engage in the buying and selling of NFTs, generating passive income through a percentage of the platform’s trading fees.
The Zero Tolerance Game stands out as an engaging element, firmly upholding the principle of environmental protection. In this game, players can earn CHMPZ tokens by achieving specific milestones. To further enhance passive income opportunities, Chimpzee NFT passport holders gain access to exclusive benefits, allowing them to accumulate more CHMPZ tokens. The process of obtaining a Chimpzee NFT passport is outlined in detail below.
Furthermore, Chimpzee has plans to launch a mobile application that utilizes AI technology to create personalized Chimpzee AI avatars. This innovative app will empower users to craft their own unique chimpanzee avatars, available once the presale period concludes.
The presale encompasses a total token supply of 40 billion, and any unsold tokens will be permanently removed from circulation once the presale period concludes. Chimpzee is currently conducting its presale, with the current stage offering the token at a price of $0.000775. Subsequently, the price will increase to $0.00085, and the listing price for the token will be set at $0.00185.
Following the presale, Chimpzee NFT passports will become available, and an important detail to note is that only investors from presale stage 1 will have the exclusive opportunity to purchase the Chimpzee Diamond NFT passports. A whitelist event will be organised explicitly for these investors before the NFT passports are accessible to the general public. If any Diamond NFT passports remain unsold, they will be available for the public to acquire.
Regular NFT passports will also be released after the presale, once again exclusively to presale investors. A whitelist event will be conducted, and if any passports are left unclaimed, the general public will be able to acquire them.
It is crucial to emphasize that participants in the initial round of the presale will be the only ones eligible to obtain the exclusive Chimpzee Diamond NFT passport. When CHMPZ coins are utilized to acquire Chimpzee NFT passports, they will be burned, potentially reducing the overall circulating supply by up to 10%.
Evil Pepe Coin Will Take You To The Dark Side
Evil Pepe Coin (EVILPEPE) stands out with its distinctive style and poses a formidable challenge to other meme coins. The token’s whitepaper reveals its aim to merge the chaotic energy of meme culture with the excitement of financial speculation, leveraging the universal experience of FOMO to cultivate a daring community.
The token’s presale commenced on July 18 and has generated significant excitement. With strong potential to become the next prominent meme coin in the market, EVILPEPE is rapidly gaining viral traction in just one day. The token’s tagline, “Embrace your dark side,” profoundly resonates with the crypto community, offering a clear incentive to surpass the well-known meme coin PEPE. As a result, this presents an excellent opportunity for investors to join the movement of this unique brand of meme coin once again.
In the presale phase, 90% of the total token supply is available for purchase, while the remaining 10% is allocated for liquidity on decentralized exchanges. The current token price is set at $0.000333 and can be acquired using either ETH or USDT. The presale has a hard cap of $1.996 million, and after its conclusion, a liquidity lock will be implemented for a duration of one month.
Upon completion of the presale, the token will be listed on a decentralized exchange, accompanied by extensive marketing campaigns conducted in collaboration with other entities. The team’s ultimate long-term goal is to attain a market capitalization of $100 million.
WSM Has The Best Community
Wall St Memes (WSM) has emerged as a platform and community deeply associated with the GameStop controversy and the Wall Street Bets movement. It ingeniously combines elements of internet culture, meme-based humour, and the financial industry. The primary objective of Wall St Memes is to humorously critique and satirize the traditional financial system while also providing individuals with an opportunity to participate in cryptocurrency investments, focusing on meme coins.
In its essence, Wall St Memes embodies this movement through a tokenized representation, introducing its own cryptocurrency known as the WSM token. By becoming part of the Wall St Memes community and investing in WSM, individuals can not only express their support for the movement but also potentially gain from meme-based cryptocurrencies.
The WSM token is currently in the midst of its presale phase, available at a price of $0.0322. In the subsequent stage, the price will increase to $0.0325. Notably, the project has already raised more than $17.7 million in funds, highlighting the promising success of this well-received initiative.
Those interested in participating can acquire the token using either ETH or USDT, as the WSM team places a strong emphasis on transparency regarding the project’s tokenomics. The presale allocation accounts for 50% of the total token supply, with an additional 30% reserved for community rewards. The remaining 20% is evenly distributed between CEX and DEX liquidity.
These meme tokens are proving to be exceptionally distinctive, making a significant impact on the market and cementing their place as crypto tokens with 10x growth potential. The good news is that their presales of CHMPZ, EVILPEPE, and WSM are all still ongoing, so take the opportunity to get in now before they sell out.
The crypto space is experiencing significant selling pressure as the beginning of the week failed to inculcate bullish momentum. Even though the weekend remained largely sluggish, a bullish week was expected, but the multiple events lined up in the week may have created fear among the market participants. Hence, they tend to fall into FUD, creating notable selling pressure, and causing the Bitcoin price to trigger a fresh bearish move.
Month on month, the impact of the FOMC meeting and the fresh CPI rates have been impacting the crypto space, specifically Bitcoin, to a large extent. The market participants now look at the FOMC MoM to decide the next action plan. Below are some of the reasons that may create significant volatility in the markets.
- FED’s FOMC meeting is expected to be held on Wednesday, where-in they could raise another 25 bps
- After the FED’s aggressiveness, the European Central Bank (ECB) is expected to be more hawkish in its battle against inflation, which is expected to rise another quarter point.
- Moreover, the European inflation reports are also set to surface, which may cause another round of volatility on Friday.
So what may be the impact on Bitcoin’s (BTC) price?
The BTC price has already begun to manifest itself as being under bearish pressure as it struggles to hold above $29,000. Although the prices range significantly above the range, the dropping technicals suggest a trap being laid for the bulls. Additionally, the external factors mentioned above may have begun to create additional negative pressure on the asset.
Hence, a popular analyst, Michael van de Poppe, believes that the BTC price may witness a notable drop before the release of the fresh interest rates.
However, bearish clouds continue to prevail over Bitcoin price as the token has lost crucial support at $30,000. Therefore, now it is believed that the price may drop as low as $27,000 where it may attract fresh liquidity for the next price action.
The United States Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency exchange Coinbase is proceeding, with a date set for both parties to voice their initial arguments. On July 24, Coinbase’s chief legal officer declared that New York judge Katherine Polk Failla had approved the joint request from Coinbase and the SEC. However, the two groups failed to come to an agreement on a deadline for the SEC’s opposition brief, which Judge Failla settled. Coinbase hits pause on asset staking in some states amidst lawsuit scrutiny.
The post Russia approves digital ruble bill, with a pilot set for August 2023! appeared first on Coinpedia Fintech News
Russia has officially approved the digital ruble bill, with the law set to take effect in August 2023. The legislation enables the central bank to launch the first central bank digital currency (CBDC) pilot with real consumers in August. The digital ruble is developed to serve as a payment and money transfer method and will act as the third form of money alongside cash and non-cash rubles. Russian citizens will not be forced to use the CBDC, and it will be a voluntary choice left up to individuals to decide. The digital ruble is not expected to see widespread use in Russia until 2025-2027.
Litecoin (LTC) broke a key technical resistance level on July 18, 2023, after trading sideways for several months. The break above $100 could be a sign that the bulls are in control and that LTC is ready to resume its uptrend.
The $100 level has been a major resistance point for LTC since the start of the year. In February, LTC reached a high of $105.70, but was unable to break through the resistance and fell back to the $80s. However, the recent break above $100 suggests that the bulls are now in control and that LTC could be on its way to new highs.
However, despite this bullish movement DigiToads (TOADS), a memecoin that is in the midst of a highly successful presale, is still likely to outperform Litecoin. At the core of its success is the revolutionary TOAD Economics model, which offers TOADS token holders multiple income streams, making it an extremely attractive investment opportunity.
TOAD Economics, a game-changing feature of DigiToads, introduces various income streams for token holders. Every transaction within the DigiToads ecosystem contributes 2% of TOADS tokens to the staking rewards pool. These rewards are then distributed to staked TOADS NFTs, creating a continuous cycle of value appreciation. By staking their TOADS tokens, investors not only contribute to the ecosystem’s stability but also earn additional rewards, promoting long-term holding and driving scarcity of TOADS tokens.
The integration of Non-Fungible Tokens (NFTs) adds further value to DigiToads. TOADS NFTs represent unique digital assets that can be staked to earn a proportional share of the staking rewards pool. By staking these NFTs, token holders gain increased benefits, including access to the rewards generated within the ecosystem. This combination of staking and NFTs presents an attractive proposition for investors seeking both capital appreciation and ongoing passive income generation.
The introduction of TOAD Economics and NFT staking not only incentivizes investors to hold their TOADS tokens but also creates a self-sustaining ecosystem where token scarcity is perpetuated, driving potential value appreciation. As more users participate in the ecosystem and stake their tokens and NFTs, the staking rewards pool grows, benefiting both early adopters and new investors. This unique economic model enhances the overall sustainability and long-term viability of the DigiToads project, fostering a strong and dedicated community of Toad-ficionados.
Furthermore, the integration of NFTs adds an exciting layer of utility and ownership to the DigiToads ecosystem. Each TOADS NFT represents a digital collectible with its own unique characteristics and attributes. The ability to stake these NFTs not only provides holders with additional rewards but also creates a sense of exclusivity and status within the community. As the ecosystem expands and evolves, the value and desirability of these NFTs are expected to increase, further fueling demand and engagement among DigiToads enthusiasts.
Litecoin, often referred to as the silver to Bitcoin’s gold, has a solid reputation in the market and has recently broken through a key technical resistance level. There are a few factors that could be driving the recent bullish momentum in LTC.
One factor is the upcoming halving event, which is scheduled to take place on August 5, 2023. The halving will reduce the block reward from 12.5 LTC to 6.25 LTC, which could lead to a decrease in the supply of LTC and an increase in its price.
Another factor that could be driving the bullish momentum in LTC is the increasing adoption of the cryptocurrency. LTC is now accepted by a growing number of merchants and exchanges, and it is becoming a more popular choice for payments and other transactions. Additionally, Litecoin’s robust development team and commitment to ongoing improvements make it an attractive investment option for many cryptocurrency enthusiasts.
Overall, the recent break above $100 is a positive sign for LTC. It suggests that the bulls are in control and that the cryptocurrency could be on its way to new highs.
DigiToads (TOADS) is set to perform exceptionally well in the cryptocurrency market. With a highly successful presale raising more than $6.2 million and over 367 million tokens sold (representing approximately 97.6% of the allocated presale tokens), the demand and confidence in this memecoin are evident.
With its groundbreaking TOAD Economics model, coupled with the integration of NFTs, provides investors with multiple income streams and the potential for significant returns, DigiToads is positioned for significant growth and has the potential to outperform even established cryptocurrencies like Litecoin (LTC).
Dogecoin (DOGE), the beloved meme cryptocurrency, could be on the verge of an explosive ascent, hitting a price point of $0.50, according to a popular crypto expert known as Altcoin Sherpa.
Dogecoin’s Potential Rally: A Patient Game
According to Sherpa, this dramatic price surge won’t be an overnight miracle. Investors might have to bide their time, potentially sacrificing the chance to dive into other lucrative investments during the wait.
Sherpa also pointed out that the popularity spotlight might shift to other meme coins such as Shiba Inu (SHIB) and Pepe (PEPE), further complicating DOGE’s ascent.
Breaching Resistance: The EMA Indication
Sherpa’s analysis showcases Dogecoin breaking through resistance markers, specifically the exponential moving averages (EMA). Currently, DOGE appears to be retesting the critical 89-day EMA, signal traders frequently associate with a possible trend reversal. If history repeats itself, DOGE could climb back to $0.50, a price level it last enjoyed in late 2021.
At the time of writing this article, Dogecoin is trading at $0.071, showcasing a positive change of nearly 3% within the last day. However, the meme-based cryptocurrency has an uphill climb.
It is navigating a bullish short-term trend channel but is approaching a formidable long-term resistance mark in the upper $0.07 range. The next immediate resistance level is $0.077.
Elon Musk’s Midas Touch
Another key factor in Dogecoin’s market movements is Elon Musk. DOGE experienced a nearly 4% price surge in mere minutes following a tweet from the Tesla and SpaceX CEO. Musk’s social media mentions have historically impacted DOGE’s price trajectory, suggesting that his influence remains a factor in the coin’s future performance.
Despite the bullish short-term outlook, Dogecoin’s long-term price prediction still leans towards bearish unless it can decisively break past the looming resistance zone. Should it fail to do so, the token might retest its yearly lows. However, if Sherpa’s analysis holds true and patience pays off for the holders, Dogecoin might just surprise the crypto community with a $0.50 price tag.
There’s a thrilling buzz of optimism in the crypto space, with cryptocurrency expert Egrag Crypto forecasting an exciting trajectory for Ripple’s XRP.
A Triumvirate of Crosses – Decoding Egrag’s Analysis
Diving into XRP’s complex data patterns, Egrag Crypto identified three significant price intersections, namely Cross ‘A’, ‘B’, and ‘C’, in the currency’s weekly time frame. Each cross, representing an interaction between the 21 exponential moving average (EMA) and 50 moving average (MA), suggests a bullish momentum and potential skyrocketing of XRP’s price.
Replicating the 230% price surge of Cross ‘A’ from 2015 could push XRP into a crucial price range of $1.3 to $1.4. A successful transition through this critical zone might well put XRP within touching distance of its all-time high (ATH). However, investors should be ready for possible sharp price pullbacks.
Cross ‘B’ forecasts an eye-watering 50,000% price hike, potentially sending XRP’s value soaring to a staggering $200. This pattern, which harks back to 2017’s rally, would require a substantial boost, perhaps with significant adoption news like Bank of America incorporating XRP or BlackRock launching an XRP ETF. Egrag Crypto sees this scenario as highly possible and is bullish on this course, likening it to a trip to the legendary “Valhalla City of gains.”
The final pattern, Cross ‘C’, indicates a potential 777% price jump, which would bring XRP’s value close to $3.7. This situation could put XRP near its previous ATH and in a critical zone. A successful transition might usher XRP into another round of exponential growth.
How XRP is Doing Now
At press time, XRP trades at $0.77. Its price experienced a significant 100% surge in the wake of a landmark legal decision that XRP is not a security. However, this recent success now faces a challenging period of consolidation.
Since Ripple’s legal victory over the SEC, the company has been redoubling its efforts to drive XRP Ledger adoption. The highlight so far has been its participation in a $54 million investment for Futureverse, a metaverse project.
AI is the biggest technology that will define 2023. The mass penetration of ChatGPT is just a preview of what’s coming. Now that people have embraced AI, new projects that explore futuristic technologies are taking over the market.
A Dynamic Sector with Fertile Soil
The AI and Big Data sectors have changed how we understand data processing and utilization. The advanced algorithms and machine learning techniques are perplexing, but they have vast possibilities in everyday life.
They can overhaul a wide range of industries in decision-making, shrewd analysis, and of course, automation. The heap of data that multiplies at an exponential rate will change the way we live and work in the next few years.
According to a new report by CoinMarketCap, the AI and Big Data sector has grown by 323% within the niche. In fact, AI & Big Data is the second-fastest growing crypto sector this year.
While metaverse and virtual reality dominated the crypto market from 2021 to 2022, AI has the spotlight this year. It is one of the most thriving sectors in the crypto space and is poised for further growth in the next few months.
Needless to say, the release of OpenAI’s ChatGPT has catalyzed the trend.
Top AI Cryptos Set to Explode Soon
AI is a game-changer in the crypto sector for many reasons. It can transform our financial and social landscapes, with decentralized transactions of data and value at its core. Crypto projects and investors see AI as fertile soil with plenty of possibilities for growth and expansion.
In this article, we look at two emerging AI projects that have caught the market’s attention and why they are positioned for explosive growth this year.
1. yPredict – AI-Driven Curated Price Predictive Models
yPredict is an AI token that has taken the crypto world by storm, even before the token launch. The presale of YPRED tokens, the native cryptocurrency of yPredict has surged past the $3M mark within days of going live to the astonishment of the market.
The fast-growing traction of the token can be attributed to its underlying AI ecosystem tailored to cater to crypto traders, experts, and quants. Being the only cryptocurrency of the AI-based marketplace, YPRED facilitates access to crypto price predictive models carefully crafted by renowned AI experts, quants, and analysts.
It is dedicated to combating the challenges that traders and investors have to deal with every day to maintain a statistical edge in the highly volatile market.
If we look at the current crypto landscape, we will find that bots and algorithms saturate the market. The saturation has led to unpredictability and influenced the price structures of assets like BTC and ETH.
The situation is worsened by manipulative bots that favour specific assets and investors. yPredict emerges as a reliable solution to the problem, offering a renewed sense of certainty to crypto price predictions by leveraging the expertise of industry analysts and AI developers.
yPredict allows you to make near-accurate predictions, as it grants access to industry expert-driven crypto price predictive models through monthly subscriptions. The payments are made in YPRED tokens, which serve as the driving force behind the ecosystem.
Apart from this, it provides AI Signals, Sentiment Analysis, and 25+ Chart Pattern Recognition.
Being an AI-powered utility token, YPRED is distinct from meme coins like Dogecoin, which solely rely on community strength and hype. Instead, the use cases powered by yPredict’s underlying project architecture make it a more sustainable option for investors with a long-term outlook.
The ongoing presale presents the optimal entry point to the project. It is divided into multiple stages, featuring a gradual price hike as it progresses. This presale allows the community to be part of the project’s growth from its inception.
2. Launchpad XYZ – A Web 3.0 Hub for the Masses
Another AI token to draw massive attention over the last few months is LPX, the native cryptocurrency of Launchpad XYZ.
As its name suggests, the platform ushers in the new era of Web 3.0 by lowering its entry barriers. Whether you’re interested in cryptocurrencies, NFTs, or the metaverse, you will find plenty of valuable data and insights on the platform. Its market relevance lies in the fact that the complexities and jargon prevalent in the crypto market are detrimental to its growth.
They turn away traditional investors and users from entering the market and trying their hands on digital assets. That is not a trend to be encouraged. Despite the advanced technology that Web 3.0 makes use of, it needs to lower the technical barrier to penetrate the masses.
This is where Launchpad XYZ steps in as a bridge between crypto enthusiasts and promising crypto projects. The platform enables more individuals to explore the various opportunities in trading, investment, and play-to-earn using its extensive ecosystem. It consists of an NFT marketplace, a play-to-earn gaming hub, a metaverse experience library, a Web3 wallet, an NFT DEX, and a trading terminal to name a few.
But the standout functionality on Launchpad XYZ is Launchpad Quotient (LPQ) – a singular metric that indicates the risk and reward potential of any Web3 Asset. Derived from a wealth of data, it encompasses 400 data points, such as moving averages, sentiment analysis, and trading volume.
As the market is ever-changing, the LPQ value fluctuates based on the latest data and news available.
The insights and data-driven metrics like LPQ create a more accessible and informed environment for crypto enthusiasts and investors.
Although the growing lack of confidence in the traditional financial system has urged an increasing number of people to explore cryptocurrencies, the market doesn’t respond well to the demand.
With a mission to onboard the next 10 million users to Web 3.0, Launchpad XYZ enhances the overall crypto user experience and educates users about the diverse range of yield opportunities available.
The LPX presale is live. It comes with excellent early-bird discounts that give investors a low entry to the AI coin. The platform promises to play a pivotal role in democratizing access to information and opportunities within the crypto market, but it remains to be seen how efficient it is.
But if you have your eyes set on a meme coin
Meme coins are wildly popular now. They don’t have any underlying utility, but they seize the market with three- to four-digit bull runs. If you want to add a volatile asset to your portfolio, Burn Kenny is the latest meme coin sensation.
“Ever wondered how to set fire to your digital assets in a fun and potentially profitable way? Welcome to Burn Kenny, a token so hilariously volatile, you’ll think you’re in an episode of South Park!”
The project launched a discreet presale on 20 July 2023. Don’t be dispirited if you find it already sold out. The token launch is scheduled for 24 July 2023.
Top Altcoin Picks For Next Week: Ripple (XRP), Litecoin (LTC) And Polygon (MATIC) Prices Set To Capture Attention
Only a few weeks ago, Bitcoin’s market dominance had finally surpassed 50% after a two-year lull, thanks to a wave of applications for spot Bitcoin exchange-traded funds from leading financial institutions. However, following Ripple’s partial win against the SEC, Bitcoin’s dominance has experienced a setback. A sudden increase in altcoin prices led to a temporary dip in Bitcoin’s market dominance, bringing it below the 50% threshold. Amid this, altcoins like XRP, LTC, and MATIC prices are set to explode next week.
A Crucial Week For Altcoin Market
The recent decline in Bitcoin’s market dominance coincides with the growing anticipation within the crypto community for the resurgence of the “altcoin season.” Several altcoins, which the SEC has also claimed to be securities, have seen their prices surge by double digits. This shift in the market is particularly relevant in light of the upcoming focus on Ripple (XRP), Litecoin (LTC), and Polygon (MATIC). As such, the crypto community will be keenly watching these altcoins in the coming week.
Ripple (XRP) Price Analysis
XRP price is currently trading in a bearish zone after facing a heavy selloff yesterday. Analyzing the 4-hour price chart, bears are currently attempting to pull the price below EMA20 to intensify their bearish bets. As of writing, XRP price trades at $0.7, declining over 5.6% from yesterday’s price.
The RSI level has declined from its overbought region and is aiming to decline further, hinting that bulls are losing control and bears may soon take over.
However, a breakout above the $0.77-$0.8 region will bring a surge in buying pressure, and XRP price might again retest bulls’ patience at $0.9 next week.
On the other hand, if the price drops below $0.67, bears might trigger domination and plunge the token to $0.58.
Litecoin (LTC) Price Analysis
The bullish traders successfully maintained their position above the $92 support level despite facing a heavy selloff near $100. This suggests a shift towards a positive sentiment for Litecoin, with traders opting to buy during price dips. The rally has now approached the $95 mark, where it is expected to encounter substantial resistance.
If the buyers manage to hold their ground at the current levels, the chances of breaking above the $100 mark will increase. In such a case, the LTC price pair could aim to retest the crucial resistance level at $106 next week. If this level is surpassed, the price might surge toward the $115 mark.
Polygon (MATIC) Price Analysis
There is currently an attempt by the bears to drag Polygon beneath the EMA20 level, but the bulls are successfully resisting.
This resistance sparked significant purchasing driving the price up to $0.82, just below the target resistance of $0.85-$0.89.
The moving averages are nearing a bearish crossover, and the RSI is approaching the midline, suggesting that the bulls are losing the fight.
In the coming week, the price of MATIC may experience a resurgence around the $0.76 mark, which is likely to instill buying confidence. This upward momentum could potentially reach the $0.9 level, where the bears are expected to mount significant resistance to thwart a rise to $1.
Volatility in the crypto market means that coin values will shift as their corresponding tokens evolve. Such is the case for Balancer (BAL), a unique token currently experiencing a remarkable 80% surge. Balancer is a decentralized exchange (DEX) that functions similarly to Uniswap (UNI), empowering users to create and manage liquidity pools consisting of multiple tokens.
While this cryptocurrency draws investor attention, another token with an immense value proposition and utility is gaining widespread recognition in the market. DigiToads (TOADS) is positioned as an innovative DeFi and meme token that has set its sights on delivering substantial gains. The token’s vision is rooted in the rapidly expanding meme economy and the potential for explosive growth, presenting a promising investment opportunity for those seeking both financial rewards and some fun.
Join us in exploring Balancer’s innovative liquidity management solutions and DigiToads’ ambitious pursuit of growth using trending NFTs.
DigiToads (TOADS): Redefining DeFi and Embracing Memes
The value of the innovative meme token, TOADS, the native coin for DigiToads, a project with gamification and meme elements, is rising, with a massive 400% gain on the horizon. Going from an initial price of $0.00 to $0.047 in its ninth stage, TOADS has already provided early investors with over 370% increase. As the project moves towards mainstream adoption, this price will surely surge, offering even more gains.
DigiToads is currently the best DeFi crypto, offering substantial rewards to eager investors. This exciting project merges some of the most sought-after features in the crypto market to provide holders with an immersive and unforgettable experience. By taking metaverse gaming and infusing it with popular meme culture and trending NFTs, DigiToads sets itself apart, ensuring users can have the best of both worlds while earning rewards.
DigiToads has carved out a unique niche within the crypto space, allowing investors to purchase tokens double as game characters in its metaverse, The Swamp. It is the best DeFi crypto project, offering an innovative approach to DeFi functionality while infusing it with the fun and entertainment associated with memes. This creative blend and robust tokenomics of the project, coupled with a limited supply and a deflationary mechanism, give TOADS tokens the potential for exponential value appreciation.
Balancer (BAL): A Market Surge and the Quest for Opportunity
Balnacer’s DeFi coin price has recently experienced a significant spike, soaring 80% and offering substantial rewards to investors who took advantage of its good utility. This decentralized exchange and automated portfolio manager captivate the attention of investors with their unique approach to liquidity provision. BAL presents an enticing opportunity for diversification and optimization within the ever-fluctuating crypto market.
Balancer offers a unique platform for users to create and manage liquidity pools with multiple tokens. With its innovative approach to liquidity provision, the token provides users flexibility and control over their token portfolios. The platform’s automated portfolio rebalancing feature ensures that token amounts are adjusted automatically to maintain desired allocations whenever the DeFi coin price fluctuates.
By providing liquidity to a Balancer pool, users support the ecosystem for trading cryptocurrencies. In turn, they are rewarded with a part of the trading fee in the form of BAL, the platform’s native token. To operate optimally, Balancer must incentivize both crypto holders who wish to liquidate some of their holdings and traders seeking the best price point for an asset.
As BAL experiences a surge, the emergence of DigiToads has shifted investor focus in the market, drawing attention to its innovative and potentially profitable venture. DigiToads’ fusion of DeFi functionality and meme culture has created a compelling investment opportunity, backed by its robust tokenomics, gamification elements, trending NFTs, and passionate community.
While Balancer showcases the potential for market surges, DigiToads represents a unique proposition that embraces utility and entertainment. Investors looking to explore new horizons within the cryptocurrency landscape should keep a close eye on DigiToads as it sets its sights on remarkable growth and reshapes the intersection of DeFi and memes.
For many people, the best part about the cryptocurrency market is the sheer variety one can explore. There are a wide array of options available, giving crypto enthusiasts ample opportunities to diversify their portfolio and get creative. DigiToads (TOADS) is fast emerging as the best crypto investment of 2023 because of its hybrid DeFi model and unique use cases. Given its phenomenal presale growth, analysts feel that it can potentially even outperform many popular altcoins like Huobi Token, Gate token, and Binance Coin.
DigiToads: Bringing hybrid DeFi solutions to the masses
If you are looking for the best altcoins to buy now, you can’t miss DigiToads. The Ethereum-based crypto platform combines the utility of three tokens — a meme coin, a play-to-earn game, and a stake-to-earn platform — to give its users high-end utility. The combined features mean that users can access multiple options to earn passive income on the same platform — be it staking, trading, winning tokens in Web 3.0 games, entering trading competitions, or prize draws.
The platform has a native token that is the medium of exchange on the network. Called the TOADS token, the native coin is built on the ERC-20 standard of Ethereum. It’s currently in the presale stage and has raised over $5.8 million so far. There is no vesting period, so buyers can acquire their tokens as soon as the transaction is processed.
A notable feature of the TOADS toke is that it is a deflationary coin. In other words, its supply is always kept scarce to minimize price fluctuations. All extra tokens in circulation are burned or destroyed, so that the TOADS toke supply remains limited.
Over the next few months, the DigiToads team will be launching its official merchandise to spread the word about the platform. The proceeds from the sale of the merchandise will be donated to charities working for environmental conservation.
What are analysts saying about Gate Token’s prospects?
GateChain is a public blockchain that facilitates decentralized trading. Its native token is GT and it’s used for various transactional purposes like staking to validate transactions and making payments on the network. With GateChain, users can access an on-chain wallet to manage their digital assets themselves. Plus, it is compatible with Ethereum Virtual Machine, so developers can deploy Ethereum smart contracts on GateChain. The GT token has been witnessing positive price action over the past few weeks. Based on the market data, analysts feel that there is a high chance that the GT token maintains its bullish momentum over the next few months.
Huobi Token says it has addressed the 2021 data breach
Huobi Global is a leading cryptocurrency exchange where you can trade and swap cryptocurrencies. It’s powered by the Ethereum blockchain and its native token is the Huobi Token or HT. The HT token is the medium of exchange on the network. HT token holders can also purchase monthly VIP plans and enjoy exclusive perks and discounts. Its key USP is that it charges a reduced commission for trading operations. The exchange hit the headlines after it stated that it has plugged a significant data breach after which contact details of thousands of Houbi Global users were leaked.
Binance rolls out second NFT series featuring Ronaldo
Binance is a leading crypto exchange and blockchain network. Its native token is BNB and it is the primary cryptocurrency of the network. Binance Coin is among the top crypto coins which have managed to maintain their hold over the market despite being launched years ago. It was recently in the news after it rolled out its second NFT series featuring ace football player Cristiano Ronaldo in July. Called ‘ForeverCR7: The GOAT’, the NFT series features famous goal-scoring moments from Ronaldo’s career.
If you are looking for a good crypto to buy, DigiToads, Huobi Token, Gate Token, and Binance Coin can be dependable projects to choose from. However, if you are looking for a cryptocurrency that yields long-term gains, for many analysts, the right choice would be DigiToads. The platform’s hybrid model opens up a multitude of opportunities for crypto users that they can use to build a steady source of passive income. In the coming months, analysts feel that TOADS tokens can potentially cross 40x in terms of growth.
Prominent cryptocurrency analyst and trader, Michaël van de Poppe, has expressed his bullish outlook on Bitcoin (BTC), forecasting a potential surge in the leading cryptocurrency’s price. He is well known for his substantial following on YouTube and believes Bitcoin has the potential to rally by over 30%, reaching a new high of $41,000 in 2023.
Van de Poppe in his latest Youtube video emphasizes the importance of Bitcoin establishing a clear higher high to sustain its current upward trend. Utilizing the Fibonacci extension tool, which analyzes past corrective movements, he identifies potential price targets. Based on this analysis, he sees a possibility for Bitcoin to rally toward the $41,000 level.
What Next For Bitcoin Price?
He further outlines two potential scenarios for Bitcoin’s next course of action.
In this scenario, Bitcoin surpasses the recent highs of around $31,500, which acts as a critical resistance level. Following the breakout, Bitcoin may experience a temporary pullback and consolidation phase before initiating a new rally. This consolidation allows the market to stabilize and potentially gather more bullish momentum.
Alternatively, Bitcoin could consolidate in the near term without breaking the recent highs. However, after this consolidation phase, Bitcoin may experience a rapid acceleration in the coming months, surpassing previous highs, including the $42,500 level.
“So in that case we can start looking at a rally towards $41,000.”
Presently, Bitcoin is trading at $30,737, and his analysis suggests the potential for significant progress in the cryptocurrency’s price.
Based on the analysis of renowned analyst Michaël van de Poppe, Bitcoin has the potential for a substantial rally, with a projected price target of $41,000. However, the price predictions are speculative and do not guarantee specific results. Investors should exercise caution and evaluate many criteria before investing.