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FTX’s Alameda Research drops lawsuit against Grayscale

  • Alameda Research, an affiliate of bankrupt crypto exchange FTX has dropped its case against Grayscale.
  • The lawsuit’s dismissal comes as Grayscale’s GBTC sees huge outflows following SEC’s spot Bitcoin ETF approval.

Alameda Research, the collapsed crypto trading arm of bankrupt cryptocurrency exchange FTX, has dropped its lawsuit against Grayscale Investments. Reuters highlighted Alameda Research’s move to drop the case in a report on Monday.

Alameda Research drops Grayscale lawsuit

The FTX affiliate filed its lawsuit against Grayscale in March 2023 and alleged that the GBTC issuer had enriched itself at the expense of its shareholders.

Alameda Research’s lawsuit came before Grayscale’s eventual victory over the US Securities and Exchange Commission (SEC), with the legal milestone setting in motion the events that led to SEC’s approval of several spot Bitcoin ETFs, including Grayscale’s Bitcoin Trust (GBTC).

With the approval and conversion of GBTC into a spot ETF, Grayscale investors have been able to redeem their shares. In its lawsuit, Alameda claimed that the digital asset manager, which also seeks to convert its Ethereum Trust (ETHE) into a spot Ethereum ETF, charged high fees and wasn’t allowing redemptions.

The approval of GBTC as a spot Bitcoin ETF has addressed the redemptions issue, with Grayscale seeing a massive outflow since GBTC began trading on January 11, 2024. On Monday, the company reportedly sent 15,308 BTC worth over $623 million to Coinbase Prime.

With over 63,000 BTC sold since, one of the likely sellers could be the FTX estate, given it has offloaded several assets in the past few weeks.

Bitcoin price has struggled amid the BTC dump, reaching lows of $40,367 on Monday, January 22, 2024.

The post FTX’s Alameda Research drops lawsuit against Grayscale appeared first on CoinJournal.

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$1 Launch price Option2Trade (O2T) Gains Influx of dYdX and Polygon Investors

  • Option2Trade (O2T) is a new AI and Web3 social trading platform for crypto, Forex, stocks and commoditities.
  • The O2T presale is gaining momentum as investors eyeing best tokens under $1 flock to its presale.
  • dYdX and Polygon are also showing bullish signs, but investors are showing great confidence in O2T.

Crypto investors are turning to new crypto gems as they look to ride the most of the upcoming bull market. Option2Trade (O2T), an AI-driven social trading platform currently in its presale phase, stands out as one of the top tokens under $1 in the market. 

Is this altcoin set to challenge coins such as dYdX (DYDX) and Polygon (MATIC)?. Here’s more about Option2Trade.

Option2Trade: The new AI social trading platform set to dominate market

Amid the growing crypto investing market, new platform Option2Trade (O2T) is looking to bring a new age where traders can tap into the power of artificial intelligence (AI) to power their investing experiences.

A licensed trading platform, Option2Trade allows users to leverage AI and Web3 social trading algorithms, integrating cryptocurrency with the robust technology that powers markets across FX, stocks, and commodities among others.

The project’s launch of its O2T token presale is one more step as the platform seeks to dominate the leverage and margin trade. The O2T token is the native utility token that will allow holders to participate in the governance of the Option2Trade ecosystem.

Holders will also tap into the token’s integration as a transactional currency, accessing opportunities not just across decentralized finance (DeFi), but also gaming. Staking and an NFT marketplace are also key features of this platform.

dYdX and Polygon: MATIC and DYDX outlook

Option2Trade’s is well-positioned as one of the top platforms set to disrupt the traditional exchange and trading market ecosystem via AI and Web3. Could O2T be a more appealing buy today compared to dYdX and Polygon? A look at what Polygon (MATIC) and dYdX (DYDX) are first.

Polygon stands out as an Ethereum scaling solution, with its technology key to the ecosystem across standalone chains, Optimistic Rollups and ZK Rollup chains among other applications.

dYdX (DYDX) is the native token of dYdX Chain, a decentralized exchange (DEX) protocol that briefly overtook Uniswap as the largest DEX by 24-hour trading volume. As of January 22, dYdX Chain was seeing a significant bump in its DEX volumes (dYdX v4 is second behind Uniswap v3, while dYdX is fourth).

What’s the market outlook for MATIC and DYDX?

MATIC price remains in a downtrend since hitting its all-time high in December 2021. The token is poised at $0.77, down 23% in the past year and more than 73% off its ATH. 

DYDX meanwhile trades around $2.86, down from its December 2023 peak above $3.73.

For investors looking for a potentially profitable investment in 2024, both Polygon and dYdX could be good buys under $1 and under $5 respectively. But investors seeking even greater opportunities in the presale market are flocking to Option2Trade’s O2T presale.

Is Option2Trade (O2T) the best altcoin under $1 to buy today?

Option2Trade’s potential to disrupt the market is showing as O2T presale attracts massive attention from across the cryptocurrency space.

Currently in stage 1, the project has sold over 38 million O2T tokens. Early adopters have so far allocated more than $215 million to O2T as they look to take advantage of the current presale price of $0.007. The attractively low price and the potential for Option2Trade to take the crypto market by storm makes joining the presale today a great chance.

Given this outlook, O2T could be one of the best under $1 tokens to buy in 2024. 

Learn more about Option2Trade here.

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Coinbase-backed Ondo Finance opens Asia Pacific office, ONDO token up 73%

  • Ondo Finance, backed by Coinbase, expands into Asia Pacific, capitalizing on 73% weekly ONDO token surge.
  • Company opens its first APAC office and appoints Ashwin Khosa as VP for Business Development in the region.
  • The strategic move aligns with Ondo’s dominant position in tokenized securities, targeting APAC’s digital asset fervour.

Ondo Finance, a prominent US-based issuer of tokenized securities backed by Coinbase, is making headlines with its strategic expansion into the Asia Pacific region.

This move comes amidst a remarkable 73% weekly surge in the value of its ONDO token, showcasing the platform’s growing influence. The company’s entry into the dynamic APAC market is set to capitalize on the region’s fervent interest in digital assets, fueled by a thriving crypto community and evolving regulatory frameworks.

Ondo Finance’s footprint in Asia Pacific

While officially announcing its strategic expansion into Asia Pacific, Ondo Finance also announced the inauguration of its first office in the Asia Pacific region, marking a calculated move to tap into the escalating enthusiasm for digital assets.

While the specific location remains undisclosed, the company’s founder and CEO, Nathan Allman, expressed his enthusiasm for the expansion. He highlighted the active and rapidly growing crypto community in the Asia Pacific, emphasizing the appeal of Ondo’s tokenized exposure to U.S. assets.

To spearhead this strategic move, Ondo Finance has enlisted the expertise of Ashwin Khosa as the Vice President of Business Development for Asia Pacific. Khosa, with a decade of institutional business development experience in Hong Kong, brings valuable insights into the nuances of on-chain finance and the Asia Pacific market.

This expansion aligns seamlessly with Ondo’s existing dominance in the tokenized securities realm, boasting nearly 40% of the global market share. The platform’s three main tokenized products—OUSG, OMMF, and USDY—enable global investors to access key US-based asset classes in a tokenized format.

ONDO token price movement

The expansion into Asia Pacific comes on the heels of a remarkable 73% weekly increase in the value of Ondo Finance’s ONDO token. At press time, ONDO was trading at $0.2812, up 3% in 24 hours.

ONDO price chart

 

This surge reflects growing confidence and interest in the platform and its tokenized offerings.

Ondo Finance has been actively shaping its future landscape with strategic collaborations. Notably, partnerships with Mantle Network and Solana have gained attention, emphasizing the collaborative efforts to bring USDY to their respective blockchain networks.

Additionally, the Ondo Foundation’s recent announcements, including a points program and a proposal to unlock the ONDO token, further underline the platform’s commitment to advancing on-chain finance and expanding its global influence.

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DOGE could slip below $0.080: Will the bulls regain control soon?

Key takeaways

  • Dogecoin has been underperforming over the last few days and could drop below the $0.080 region soon.

  • Memeinator’s presale is now in its 13th stage and has raised close to $4 million.

The cryptocurrency market has been bearish since the spot Bitcoin exchange-traded funds (ETFs) were approved. Dogecoin is currently struggling to stay above the $0.080 region and could dip further in the coming hours or days.

Despite that, the Memeinator presale continues to surge ahead and is close to setting a new milestone. 

DOGE underperforms and could drop below $0.08

Dogecoin, the leading meme coin in the world, has been underperforming over the past few days. It has lost more than 3% of its value over the weekend and could experience a further dip in the short term.

At press time, the price of DOGE stands at $0.0838 per coin. The bearish performance comes as the broader crypto market has been experiencing selling pressure since the spot Bitcoin ETFs were approved in the United States.

What is Memeinator?

Despite the current bearish trend in the market, investors continue to pour funds into new and exciting projects. Memeinator remains one of the beneficiaries as its presale continues to attract more investors. 

Memeinator is a Web3 project that is working to make content creation better for people within the crypto space and beyond. Per the team, the goal of the project is to destroy worthless memes on the internet and promote the use of quality ones. 

The development team seek to push the project to reach a billion-dollar market cap, with its various products and features striving for adoption. Memeinator will leverage AI technology and blockchain to identify worthless memes, allowing investors to know and avoid them. 

Currently, Memeinator is in its presale stage and has raised more than $4 million from the public over the last few months. Its native token, MMTR, began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early investors an amazing 132% ROI once it gets listed on crypto exchanges. 

Once the presale stages are completed, the team will organise a Memeinator game where players will get a chance to eliminate enemy memes and win some exciting prizes. 

Why has Memeinator’s presale raised so much?

The Memeinator presale is close to hitting a new milestone despite the current bearish trend in the market. This is thanks to its excellent and unique value proposition. With the right level of adoption, Memeinator would be used by degens, crypto natives, speculators, and content creators. 

According to the development team, Memeinator will use AI to analyse and evaluate memes on the internet, identifying lower-quality memes to replace or “destroy. With Memeinator, content creators will have access to high-quality memes instead of the mediocre ones currently littering the internet. 

The team have also incentivized the MMTR token in a bid to make it very attractive to investors. The first incentive is a reward for token holders. Secondly, MMTR has deflationary mechanisms which would help increase the token price as total supply decreases. Furthermore, 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

Click here to read more about the Memeinator presale.

Is the Memeinator token a good buy? 

Memeinator could prove to be an excellent project if the development team go through with their plans. If that happens, MMTR’s price could surge higher in the coming months and years.

During the first stage, MMTR was sold at $0.01 per token and it now goes for $0.0197. The price will increase to $0.0208 once the presale enters stage 14.

So far, the Memeinator team has raised $3.847 million and is close to achieving the $4.025 million target it set for the current presale stage. 

MMTR’s value could soar higher in the coming months and years once the token gets listed on cryptocurrency exchanges. 

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$115M Liquidated in 1 Hour as Crypto Market Plunges; $GFOX Presale Hits New All-Time High

The crypto market hasn’t had the best start to 2024. This has affected many altcoins, and investors are confused about the best cryptos to invest in. Reports show that the market experienced $115m liquidation in an hour, further decreasing the market’s total value. However, some altcoins still show positive prospects amidst this challenging period. 

Experts believe they may improve holders’ portfolios in the long run. Galaxy Fox is one of these altcoins. The new meme coin presale keeps progressing regardless of the market state. $GFOX recently hit a new high, sending optimism to existing adopters. New investors now scramble to join the meme coin’s presale. 

Galaxy Fox: Profit-yielding ICO Amidst Crypto Market Plunge 

Galaxy Fox is a trending presale meme coin with excellent prospects. The new token is gradually becoming prominent, with investors seeing it as one of the best cryptos to invest in currently. 

$GFOX aims to be a market success. It will achieve this by entering the crypto landscape with features and functionalities that position it for top performance. The fox-themed meme coin will have P2E functionality while maintaining its meme culture. 

Galaxy Fox could be amongst the few successful crypto projects to combine meme and P2E functionalities. The meme coin’s own will be different because of strong community backing, developers’ dedication, and utility beyond its ecosystem. $GFOX thrive won’t be localized. Instead, it will spread across web3 space, making it a significant token to every stakeholder in the space. 

The Galaxy Fox’s ecosystem P2E mechanics will see $GFOX rival top gaming tokens like MANA, AXS, SAND, and GALA. $GFOX aims for a better performance than these tokens had in the previous year, and it looks set to achieve it. Despite the crypto market plunge, analysts believe the GameFi sector will improve drastically this year. Hence, the prediction that $GFOX could be the next P2E sensation is seemingly likely. 

$GFOX facilitates the P2E game in its ecosystem. It’s used to purchase boosters and NFTs to improve gameplay and serve as a reward for top performers. Ecosystem members can also earn passive income by staking $GFOX token. Outside of its ecosystem, $GFOX is expected to be a payment option, a reward, and a token of value. The booming meme coin is deflationary, meaning that it will experience periodic token reduction. This will contribute to $GFOX value appreciation. 

$GFOX initial coin offering (ICO) is among the best currently, yielding over $2.7 million. It is set to hit a $3 million high soon and could end above $7 million. The exciting thing about the ICO is the value of the $GFOX presale token. 

The value is currently at a considerably low point, but has a high possibility of skyrocketing when it enters the retail phase. However, the periodic increase in this value indicates that the profit margin may keep reducing with every delay. Investors are urged to be proactive. 

Celestia ($TIA): Another Altcoin Weathering Current Market Storm

$TIA is another cryptocurrency that can help investors escape the effect of this liquidation. The altcoin has been impressive, with over 20% return in the past week. While its recent run has been on a downtrend, analysts believe it’s still one of the best cryptos to invest in at the moment. 

The price of $TIA set a $20.26 all-time high a few days ago and hopes to return to the price level and beyond soon. The cryptocurrency is hovering around $19.00-$20.00 price point, with current support around $18.20. 

Experts believe that $TIA is another option that can help investors get through this plunge. The crypto displays high profitability and strong resistance to the bear pressure. $TIA is expected to gain momentum again, and investors can have something to cheer about when it does. A finish above $50 by year-end looks possible, according to analysis by keen observers. 

Conclusion 

The crypto market liquidation is clearly having negative effects on the market. With many altcoins declining over the past few days, the buzzing $GFOX presale and $TIA look like the best cryptos to invest in now. Galaxy Fox presale presents an excellent profit-making opportunity amidst this market uncertainty, and smart investors are well-positioned to take full advantage.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

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