Monat: September 2023

Veröffentlicht am

Coinbase expands futures trading services globally

  • Coinbase International Exchange has received regulatory approval.
  • The approval underscores the company’s commitment to global expansion.
  • Coinbase’s CEO continues to advocate for regulatory clarity.

Coinbase, a leading cryptocurrency platform, has achieved a significant milestone by gaining regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading services to retail customers outside the United States.

This development marks a strategic move to expand Coinbase’s global presence in the cryptocurrency market.

Global futures market dominance

The global futures market plays a pivotal role in the cryptocurrency ecosystem, accounting for nearly 80% of the total crypto market. It facilitates leveraged transactions and derivatives trading, which often contribute to market volatility.

With this approval, Coinbase International Exchange aims to tap into the immense trading activity in the crypto derivatives space.

Crypto derivatives transactions reached an impressive $1.85 trillion worldwide in July, as reported by research firm CCData. This data underscores the growing demand for futures and derivatives trading, making it a crucial component of the crypto industry.

Coinbase CEO advocates for regulatory clarity

Coinbase’s move to expand its services outside the United States comes amidst increasing regulatory scrutiny and uncertainty within the cryptocurrency industry. Coinbase CEO Brian Armstrong has been vocal about the need for clear and consistent regulatory frameworks in the United States.

Armstrong expressed frustration with US regulators and hinted at the possibility of relocating the company if regulatory conditions do not improve. He cited the lack of transparent rules as a hindrance to the industry’s growth and stability. Clear regulations, he believes, are vital for both the industry’s success and investor confidence.

The post Coinbase expands futures trading services globally appeared first on CoinJournal.

Veröffentlicht am

Bitcoin price sits at inflation point; RSI indicates more upside

  • Bitcoin price remains resilient despite the US dollar’s strength
  • A bullish divergence with the RSI supports Bitcoin’s price action
  • The horizontal consolidation might be part of a bullish flag pattern

This is the last trading week of Q3 2023, and investors already have plans for the last quarter of the year. Bets are made both ways of the dollar, especially since September brought such a strong rally. 

For instance, EUR/USD traded today below 1.05, as the bearish trend from 1.12 continued. Most of the decline was in September. 

Investors bought the dollar and dumped stocks. After all, the Fed is still restrictive and talks hawkish. 

But in all this strong dollar environment, there is one market that, surprisingly, was (relatively) stable. 

Bitcoin. 

Bitcoin chart by TradingView

Bullish divergence with the RSI supports Bitcoin’s bullish case

Bitcoin rallied at the start of 2023, jumping from below $17k to above $30k in April. But after that, a horizontal consolidation started, and Bitcoin couldn’t rally anymore. 

However, by staying relatively flat and holding on to most of its gains, Bitcoin shows strength not seen in other markets. When the US dollar rallied, Bitcoin held the ground all this time, albeit it did correct a bit from the yearly highs. 

A quick look at the Relative Strength Index (RSI) reveals a bullish divergence that formed recently. It supports the bullish case for Bitcoin, and now all eyes are on the upper edge of the horizontal channel. 

Speaking of the channel, it may be part of a bullish flag formation. If that is the case, a bullish breakout should be followed by a measured move equal to the rally seen at the start of the year. 

The post Bitcoin price sits at inflation point; RSI indicates more upside appeared first on CoinJournal.

Veröffentlicht am

Memeinator (MMTR) reign begins with $200k presale in hours

  • The Memeinator (MMTR) has stormed past $200k a day after presale launch as sub-par memes scramble.
  • Targeting meme coin dominance, the Memeinator seeks to leverage blockchain and AI to seek and destroy all the weak meme coins.
  • MMTR will be available on cryptocurrency exchanges and trading platforms at the end of the presale.

As the broader crypto market slowdown seen over the past few weeks continues to impact altcoins, on-chain data has shown one notable feature of memecoins – a significant drop in trader interest.

Although Dogecoin, Shiba Inu and Pepe account for the most discussion rates, it appears investor attention is shifting to new projects in this space – and few look primed for the show as is the Memeinator (MMTR).

$200k presale milestone marks start of Meme “Terminator” reign

Less than a day after its presale went live, the Memeinator has raised over $237,000 from global investors.

The first stage, which had the native MMTR token priced at $0.01, quickly sold out as meme coin hunters allocated over $200,000 to the project. MMTR’s price is now up to $0.011 in stage two of the presale, and with interest skyrocketing, could be jumping to $0.012 within no time.

In terms of tokenomics, the whitepaper details a total supply of 1 billion MMTR, 65% of which will be available to early bird gem hunters via the presale. Interestingly, the team has planned an incremental distribution of presale tokens, giving a chance to those that might miss the early stages of MMTR token sale.

What is the Memeinator?

The Memeinator is a new meme coin that descends to the dystopian world of worthless meme replicas with one mission – to seek out and destroy the weak coins ruining the market. It’s a critical mission in an industry that has over 500 meme coins, most of them useless imitations of some of the top picks such as DOGE, SHIB and PEPE. 

Leveraging blockchain and artificial intelligence, the Memeinator will bring the era of chaos to a close with judgement for every sub-par meme token. 

As it renders judgement to the smaller coins, the Memeinator will look to tap into an innovative AI-powered marketing tool to target the $1 billion market cap. The next goal will be to build momentum towards challenging meme world top coins, but that will happen once the small dogs and frogs are out of the way.

Memeinator’s roadmap to dominance

To achieve its mission, the Memeinator will seek milestones as highlighted on its roadmap. Currently, the presale is part of phase 1 of the new era that includes blockchain development and community building.

As it charts the course of its expedition, the Memenaitor’s phase 2 will involve the unleashing of the terminator via launch of MMTR on popular exchanges and DEXs. Key partnerships will be sought to add to the traction, with staking and NFTs launch to follow. 

In stage 3, the Memeinator will be ready to search and destroy weak memes through the launch of Memescanner and the Memeinator game: Warfare. These products bring real utility to the ecosystem.

Meme domination comes in stage 4 of the roadmap where the world is now rid of all the unworthy memes. The market cap of this token is forecast to have grown to $1 billion, with MMTR listing on the world’s largest crypto exchanges marking the beginning of judgement for the current market’s meme coin big fish.

Learn more by visiting the project’s website or you can join the presale here to buy Memeinator (MMTR). 

The post Memeinator (MMTR) reign begins with $200k presale in hours appeared first on CoinJournal.

Veröffentlicht am

Cosmos (ATOM/USD) outlook: bearish while below $15

  • Cosmos gave up all of its 2023 gains and some more
  • The $15 level acts as a pivotal one
  • The bias remains bearish while trading below resistance

Many cryptocurrency investors were thrilled to see Bitcoin and most cryptocurrencies rallying at the start of 2023. It was supposed to be the start of a new bullish market. 

But some cryptocurrencies, especially the leading ones, hold onto most of their gains. For instance, Bitcoin’s price is still relatively close to its 2023 highs. 

However, this is not the case for smaller projects in the cryptocurrency market. Most of them erased the 2023 gains and some more. 

One example is Cosmos (ATOM/USD). It met resistance at the $15 area and then lost more than 50% of its value, erasing all 2023 gains and keeps diving. 

Cosmos chart by TradingView

The daily chart shows a bearish picture while below $15

In 2021, Cosmos reached $45. It failed at the level twice, putting a double top pattern that marked its historically high levels. 

That was the first bearish sign pointing to what was about to follow. 

Next, the market formed a reversal triangle. When it appears at the top of a bullish trend, it implies that a complex correction might have ended. Most of the time, such corrections are fully retraced. Hence, the break below $25 in the first half of 2022 should not have surprised anyone. 

Finally, the most recent price action is not encouraging either. The constant failure at $15, which proves to be strong resistance, keeps a bearish bias on Cosmos. Only a daily close above would shift the bias from bearish to bullish. 

The post Cosmos (ATOM/USD) outlook: bearish while below $15 appeared first on CoinJournal.