Monat: November 2023

• TerraClassicUSD is up 290% amid a positive ecosystem outlook.
• Memeinator is a new AI meme token currently priced at $0.014 and in presale.
• Could the MMTR beat USTC to $1?

TerraClassicUSD (USTC) is a token on the rise. In the past week, USTC price surged 290%, with the upside coming amid multiple positive catalysts. Meanwhile, the meme coin Memeinator continues to grind through its presale – currently in stage 7 with over $1.6 million raised.

USTC is priced at $0.05 today. Will it reach $1 in 2024? Or will the Memeinator’s MMTR that’s expected to hit a final presale price of $0.049 beat it to the coveted level?

What is TerraClassicUSD and why is its price rising?

TerraClassicUSD (USTC) is one of the tokens to see significant price uptick this past week. The token’s impressive 290% spike saw its value reach $0.07. The upward momentum pushed its price to highest level since June 2022.

Developments in the Terra ecosystem and recent news, including the listing of LUNC Binance futures, have buoyed buyers. USTC is also now tradable against the Turkish Lira (TRY) and the First Digital USD (FDUSD) stablecoin, adding to the potential for further upward pressure.

LUNC burning is another factor likely to prove positive for USTC and analysts see a break above $0.1 as likely to propel USTC towards $1. This is the level the original UST token fell from when it massively depegged in May 2022.

While a complete flip in outlook could see TerraClassicUSD price climb the charts, could the Memeinator have a better run during the bull market?

What is the Memeinator?

The meme coin market is quickly saturating with new projects – spurred by the astronomical gains posted by tokens such as Pepe, Bonk and Memecoin. But as industry players have pointed out, many of the tokens hitting the market are nothing short of scams and poor-quality copycats of Dogecoin and such.

Memeinator (MMTR) is looking to change that outlook. Not only is it laser-focused on destroying all the weak meme coins, it comes equipped with real utility. 

Staking, NFTs and play-to-earn ecosystem are all etched in the Memeinator roadmap. There’s also the $250k Virgin Galactic giveaway that has seen over 600k entries.

The project is designed to utilise artificial intelligence tools to scan the market for subpar projects. This will see the Memescanner bring a gamified assault to worthless meme tokens via the Meme Warfare game. As players annihilate the low-quality memecoin variants, the Memeinator will rise in market cap. The target is $1 billion before going after the big dogs and frogs.

Excitement around this project has seen investors allocate more than $1.6 million to its presale.

Could the Memeinator reach $1 ahead of the USTC?

The meme market in crypto is now worth over $20 billion. Meanwhile, serious projects are popping up to replace bogus ones. What’s likely is that the next Dogecoin, Shiba Inu or Floki may not be far from hitting the market.

With a target of $1 billion in market cap value, the Memeinator looks to be one of the top contenders for the bull market’s new gem. Combining AI and crypto, and offering real value to the community could be a huge catalyst when MMTR hits the exchanges after its 29-stage presale.

By then, the token’s price is expected to have reached $0.049, offering potential gains of 250% on tokens purchased at current presale price of $0.014. If FOMO kicks in across the crypto market in 2024, the MMTR price could reach $0.1. A rally to $0.5 and then $1 going into 2025 might be possible.

However, the crypto market is largely unpredictable as are other markets. Whether MMTR beats USTC to the $1 level could depend on market conditions and other token specific catalysts. But it could be a good long-term bet.

Learn more or join the presale here.

The post This token is up 290% this week, but could the Memeinator beat it to $1 in 2024? appeared first on CoinJournal.

• Philippines’ SEC initiates measures to block access to Binance.
• Former Binance CEO, Changpeng Zhao, recently stepped down and pleaded guilty in the US.
• The Philippines’ SEC advises Filipino users to withdraw investments from Binance within three months.

The Philippines’ Securities and Exchange Commission (SEC) has set in motion measures to restrict access to Binance, the world’s largest cryptocurrency exchange.

This move follows the recent resignation of Binance’s CEO, who pleaded guilty to breaching US anti-money laundering laws. Changpeng Zhao has also resigned from the Binance.US board.

Binance accused of unregistered operations

The Philippines’ SEC asserts that Binance, the crypto giant, is operating without proper registration and lacks the required license to offer securities in the Philippines. The regulatory body has issued an advisory, outlining the removal of access within three months to allow Filipino users ample time to withdraw their investments.

In its advisory, the Philippines’ SEC has urged major online platforms, including Google and Meta, to cease displaying advertisements from Binance within the Philippines. Simultaneously, the SEC warns individuals involved in promoting or convincing others to invest in the platform that they may face criminal liability.

The move by the Philippines’ regulatory body comes days after the former Binance CEO Changpeng Zhao stepped down after pleading guilty to deliberately causing the exchange to fail in maintaining an effective anti-money laundering program.

This development underscores the escalating regulatory scrutiny faced by cryptocurrency exchanges worldwide, as authorities aim to establish robust frameworks to ensure compliance with financial regulations. The SEC’s decisive actions aim to uphold regulatory standards and protect investors within the rapidly evolving landscape of digital assets.

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• IOTA continues strategic expansion with first DLT Foundation in the UAE’
• The IOTA Foundation will allocate $100 million to the initiative.
• IOTA price was rallying after the news, up 50% at the time of writing.

IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).

The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26.

IOTA Foundation allocates $100 million to initiative

Per today’s announcement, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protocol.

The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.

On what this means for IOTA’s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:

“The IOTA Foundation’s support from ADGM and our partnership with UAE authorities is about more than global expansion. It’s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation’s technology and governance.”

IOTA’s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.

Today, stablecoin issuer Paxos announced it had secured two in-principle approvals from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.

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