Monat: August 2023

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Shiba Inu price prediction as Chancer’s presale approaches $1.3M

Key takeaways

  • Shiba Inu is up by more than 30% over the last 30 days, outperforming other major cryptocurrencies.

  • Chancer’s presale is now closing in on the $1.3 million mark. 

Shiba Inu has outperformed the other major cryptocurrencies over the past 30 days and could be set to surge higher ahead of the Shibarium launch.

Chancer’s presale continues to move according to plan, with more than $1.2 million raised so far in the current stage.

SHIB rallies ahead of Shibarium launch

SHIB, the native token of the Shiba Inu ecosystem, is up by more than 30% over the last month. The rally makes it the best performer amongst the top 20 cryptocurrencies by market cap during that period.

At press time, the price of Shiba Inu stands at $0.00001006 per token. The rally can be attributed to the upcoming Shibarium launch. The Shibarium launch is expected to take place over the next few days or weeks. 

Shibarium is Shiba Inu’s upcoming layer-2 blockchain network built on Ethereum. The blockchain is expected to transform Shiba Inu, a memecoin, into a complete ecosystem.

SHIB could rally higher and likely hit a one-year high of $0.00014 once Shibarium launches. 

What is Chancer?

While Shiba Inu has been rallying, the broader market has been stagnant. However, that hasn’t affected Chancer’s presale. Chancer is a web3 project designed to decentralise the betting ecosystem. 

Chancer is a web3 peer-to-peer (P2P) custom betting platform that allows users to place bets on a wide range of events, including custom-made ones. The bets can be live-streamed to ensure transparency. Chancer will operate as a completely decentralised online gaming platform.

Chancer’s platform wants to improve the services offered by traditional sports and casino betting platforms. Chancer users can bet on any event, even ones they make up themselves. 

The funds from the presale rounds would be channelled towards building Chancer’s decentralised P2P betting platform. The Chancer platform will come with some exciting features, including betting markets in real-time and based on user interests, social media connections, and expertise. 

Users can set up their custom P2P betting markets, allowing other users to bet on their events and games. 

Chancer’s second presale closes in on $1.3 million

Chancer is currently in its second presale stage, and it has raised more than 60% of the required funds. So far, the team is close to generating $1.3 million in the second stage. 

There will be 12 presale events, with a combined target of $15 million. In the second stage, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the third presale round.

CHANCER will power so many activities on the platform. By holding the token, users can create custom P2P betting events on the Chancer platform. Users can also participate in markets launched by others. 

With the CHANCER token, users can create, participate in, and profit from their predictive markets. 

The CHANCER token can be purchased via the official Chancer website. Simply connect any supported wallets to the presale link. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

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

Should you buy CHANCER tokens now?

Presale is perhaps the best time to invest in Web3 projects. During this period, the project is only accessible to a limited number of investors, and prices are usually discounted. 

Chancer could become a leading Web3 project thanks to its effort of trying to decentralise the betting ecosystem. If it succeeds, Chancer could gain massive adoption over the coming months and years.

If the adoption level rises, CHANCER’s price could experience a massive surge, and early investors could benefit. 

The post Shiba Inu price prediction as Chancer’s presale approaches $1.3M appeared first on CoinJournal.

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Hong Kong crypto platform HKVAX receives approval-in-principle from SFC

  • HKVAX has moved closer to becoming only the third platform to receive a VATP licence in Hong Kong.
  • This is after it obtained an approval-in-principle from the Hong Kong Securities and Futures Commission (SFC)
  • The SFC website lists OSL and Hashkey as only two VATP licensed companies.

Hong Kong Virtual Asset Exchange (HKVAX) has received a notice of approval-in-principle from the Hong Kong Securities and Futures Commission (SFC).

A press release from HKVAX noted that the approval will see the platform become only the third virtual asset trading platform (VATP) to be licensed by the SFC.

“We are delighted to have received approval-in-principle from the SFC and look forward to creating a safe and trusted environment for investors in one of the world’s largest and most dynamic financial centres,” said Dr. Anthony Ng, co-founder and CEO of HKVAX.

According to HKVAX, a final approval from the regulator will allow the company to provide regulated activities identified as Type 1 (securities offerings) and Type 7 (automated trading services) to customers. HKVAX will offer three core products to users once the regulatory process is done – an OTC brokerage, an institutional-grade exchange platform, and custody solution.

HKVAX to join OSL and Hashkey as third VATP licence

 HKVAX’s approval-in-principle could see it join OSL and Hashkey as the third licensed VATP in Hong Kong. Details on the SFC website show that OSL received the first digital assets broker licence in December 2020, while Hashkey was licensed in November 2022. 

The path to approval for HKVAX comes on the back of the Hong Kong government’s push to bring into operation a new crypto framework for the virtual asset industry.

Among the changes has been the requirement that registered institutions and banks extend services to SFC-licensed crypto platforms. Firms seeking to offer virtual assets are also obligated to apply for appropriate licences before providing these services.

Sam Fok, co-founder and COO at HKVAX said they welcome the new changes meant to provide regulatory clarity for the industry in Hong Kong. He added:

“Over the last two years, we have worked very closely with the government and other stakeholders to strengthen regulations. We welcome the changes proposed recently by the SFC that open up virtual assets to a wider community while providing investors of all types with the transparency, reliability and protection they expect. The changes also signal Hong Kong’s intent to become a global virtual asset hub.”

On August 7, the SFC published a warning to VATPs that are yet to get properly licensed not to mislead users, particularly through statements published in relation to “their intention to apply for licences.” 

According to the regulator, such announcements are likely to “give the public a false sense of assurance” that the VATP is compliant with SFC regulations.

The post Hong Kong crypto platform HKVAX receives approval-in-principle from SFC appeared first on CoinJournal.

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Is Cardano a ghost chain? No. Just extremely overvalued

  • Cardano has been criticized as one of the biggest ghost chains in the industry.

  • But its metrics shows that its network activity is doing well.

Cardano, one of the most popular blockchains, is also a highly controversial one as concerns about its ecosystem growth remain. Some crypto watchers believe that it is a highly overvalued project while others argue it is a ghost chain. 

Is Cardano a ghost chain?

A ghost chain is defined as a crypto project that has nothing going on in its ecosystem. And there are so many such chains in the crypto industry. Some of the top ghost chains are Kadena, Velas, and XDS Network among others.

Cardano, on the other hand, cannot be defined as a ghost chain because its ecosystem is growing. For example, its DeFi ecosystem is thriving even as the crypto winter continues. Data compiled by DeFi Llama shows that Cardano’s TVL has jumped to $227 million, making it the 14th biggest chain in the world.

In ADA terms, Cardano’s TVL has jumped to an all-time high of over 750 million ADA coins. This growth has been driven by the rising number of DeFi protocols in Cardano and the performance of platforms like MuesliSwap, MinSwap, SundaeSwap, and Indigo.

Further, Cardano also has many users. As shown below, the network is averaging over 30k daily users. Most ghost chains rarely have any users.

Cardano is also active in the NFT industry. Data by CryptoSlam shows that the total sales of Cardano NFTs in the past 24 hours totaled $277k, making it the eighth biggest player in the industry after Ethereum, Polygon, Mythos, Immutable X, BNB Chain, and Bitcoin.

Cardano’s valuation is stretched

Therefore, we can conclude without a doubt that Cardano is not a ghost chain. Instead, I believe that Cardano is just highly overvalued. According to CoinMarketCap, Cardano is valued at over $10 billion. At its peak, it was valued at over $90 billion. 

Despite the drawdown, it is hard to explain this valuation since $10 billion is a lot of money. Its valuation means that Cardano is valued higher than American Airlines, Lazard, and Moelis. 

The biggest challenge is that the ecosystem is getting highly competitive. Most of this competition is coming from layer-2 networks like Arbitrum, Polygon, Base, and Optimism among others.

Cardano has also failed to attract the biggest players in industries like tokenization, stablecoins, and DeFi. Instead, big players like AAVE, Uniswap, and PancakeSwap have moved to L2 networks.

How to buy Cardano

The post Is Cardano a ghost chain? No. Just extremely overvalued appeared first on CoinJournal.

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Shiba Inu price prediction amid intensifying Shiba Memu competition

  • Shiba Inu is expected to rise higher if it breaks above $0.00001.
  • Shiba Inu is facing stiff competition from new Shiba-themed meme coins like Shiba Memu.
  • Shiba Memu has raised over $1.7 million in its ongoing token presale.

The value of Shiba Inu (SHIB) has surged by 32% over the past 30 days, offering meme coins traders and investors a reason to smile. This upward momentum is not solely due to prevailing positive sentiment in the crypto market. There are a number of other factors main among them being the upcoming Shibarium, an innovative layer-2 scaling solution that distinguishes itself with unique attributes.

Besides its arch-rival, Dogecoin (DOGE), Shiba Inu has also been facing steep competition from newcomer meme coins like PEPE and Shiba Memu (SHMU), which is currently in the presale phase. So let’s delve into what the future holds for SHIB amid this competition.

Shiba Inu facing a major resistance at $0.00001

At press time, SHIB’s trading price, according to information from CoinGecko, was $0.00000998. SHIB has demonstrated a rising trend of 19 % in the last seven days. The token has today continued with the bull trend gaining 1% at the time of writing.

Prior to today’s price surge, SHIB on Wednesday, experienced a huge rise of 5.75%, reaching $0.00001005.This upward trend fits with a recovery pattern that started two days ago after hitting a low of $0.0000947.

SHIB price prediction

SHIB’s price has remained well above the 50-day and 200-day Moving Average lines, reflecting the market’s active buyer activity. The bullish pressure on the market is further increased by the MACD line crossing above the signal line, although the RSI is moving closer to the overbought zone.

Nevertheless, for Shiba Inu to make good its bullish potential, it has to beat the resistance at $0.00001 which is further supported by the 200-day MA, creating a strong counterforce to the upward trend of SHIB.

While SHIB might have some trouble breaking through the $0.00001 level and could drop much lower to the area around the 50-day MA, any significant surge above this price level might push SHIB to new highs in the near future.

Shiba Inu vs Shiba Memu

While the hype around Shiba Inu has increased in the recent past as the community awaits the launch of Shibarium, a new artificial intelligence (AI) powered meme coin by the name of Shiba Memu is giving Shiba Inu some steep competition.

Shiba Memu combines meme coins’ concept of building a strong and passionate community around a common idea with artificial intelligence. Shiba Memu incorporates cutting-edge artificial intelligence (AI) technology, promoting itself not just as a crypto-token for entertainment but also as an innovator offering practical utility in the digital sphere and luring Shiba Inu whales.

The Shiba Memu community is expanding, and the coin is swiftly rising to the top of the meme tokens market. Besides its growing community, its innovative approach to meme coins is grabbing people’s interest and luring in investors from all over the world as evident in the amount it has managed to rise in its token presale in about a month.

In addition to all the good features, SHMU’s price continues to rise throughout the presale. At the time of writing, one SHMU token was going for 0.019450 USDT with the next price rise expected to take place in 6 hours’ time. Those interested in participating in the Shiba Memu presale can purchase SHMU tokens here.

The post Shiba Inu price prediction amid intensifying Shiba Memu competition appeared first on CoinJournal.

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Bittrex agrees to settle $24M in SEC lawsuit, doesn’t accept or decline allegations

  • Bittrex was charged in April by the SEC for selling unregistered securities.
  • Besides Bittrex, Coinbase and Binance are also facing similar charges.
  • Although Bittrex agreed to pay the $24 million, it has not mentioned anything to do with accepting or denying the SEC allegations.

The US-based cryptocurrency exchange Bittrex has agreed to settle $24 million with the US Securities and Exchange Commission (SEC) in the lawsuit where the SEC accused the exchange of offering unregistered securities to US investors. The SEC has today confirmed the payment in a tweet.

The exchange, however, has not agreed to nor rejected the SEC allegations of offering unregistered securities.

SEC’s allegations against Bittrex

The US SEC had filed a lawsuit against Bittrex and its former CEO, William Shihara, in April for selling unregistered securities. The SEC also claimed that the exchange’s foreign subsidiary, Bittrex Global GmbH, has failed to register as a national securities exchange.

Bittrex is not the only cryptocurrency under siege by the SEC. Binance and Coinbase are also facing similar charges. However, both Binance and Coinbase have vowed to fight till the end. Coinbase, which is a listed public company says that the SEC is contradicted since it knew about the exchanges dealing when the company applied to be listed as a public company.

However, the court is yet to approve the settlement and a Bitterx spokesperson said that they would comment more about the settlement once the court approves the agreement

The post Bittrex agrees to settle $24M in SEC lawsuit, doesn’t accept or decline allegations appeared first on CoinJournal.