Monat: Januar 2024

• Injective (INJ) price has surged 14% in the past 24 hours as bulls crossed above $40. 
• INJ is targeting a new all-time high above $44, with the gains coming amid a new upside for Bitcoin that saw BTC soar to $46k.

An infusion of fresh impetus has seen the price of Injective (INJ) rise sharply. As most altcoins looked to spark into life after Bitcoin rose above $45k, Injective’s native token was trading more than 14% up over the past 24 hours. Trading volume has jumped 61% in the same period to over $439 million.

Meanwhile, Bitcoin price was trading near the $46k level, up 4% in 24 hours. BTC reached highs of $46,165 on crypto exchange Bitstamp as Bitcoin ETF sentiment ramped up.

INJ price soars ahead of major token unlock

While the upside faces a hurdle near the all-time high of $44.57 reached on December 24, 2023, there’s a potential impactful event set for the next few days. 

According to data shared by tokenomics insights platform Token Unlocks, Injective is headed for its final token unlock.

The notable event will activate on January 21, 2024, with 3.66 million INJ worth about $152 million (at current prices) unlocked. This will see Injective’s total circulating supply bumped to the total supply of 100 million INJ. The unlocked coins will account for about 4.3% of the cryptocurrency’s circulating supply.

🚨 Final Cliff Unlocks Alert 🚨

Mark your calendars for January 21, 2024$INJ will be fully unlocked (100%)

Get ready for the massive cliff unlocks.
🪙 3.66 m tokens
💰 132.4 m dollars
🌀 4.35% of cir. supply

Allocations:
– Advisors: $12.04 m
– Team: $120.37 m$INJ was… pic.twitter.com/EYCyv4hsuC

— Token Unlocks (@Token_Unlocks) January 7, 2024

As the Injective ecosystem braces for the significant influx of tokens, traders are also likely to keep an eye on overall market sentiment. This is because there’s a broader bullish outlook as the industry anticipates the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC).

Although price is likely to drop as the new supply injects downside pressure, INJ could benefit from a rallying market. Target price levels amid potential price discovery will include $100 in the short term. On the flipside, INJ could face a retest of primary support below $20.

At the time of writing, Injective changed hands around $42.21 – just over 5% off its ATH.

The post Injective (INJ) eyes new all-time high as Bitcoin surges to $46k appeared first on CoinJournal.

• Bit24.cash, an Iranian exchange, faces KYC data breach affecting 230K users.
• Research uncovers misconfiguration, exposing passports, IDs, and credit cards.
• Conflicting claims between Cybernews and Bit24.cash prompt user concerns.

Bit24.cash, a prominent Iranian cryptocurrency exchange, is under scrutiny following reports of a significant security breach.

Cybernews researchers uncovered a misconfiguration in the platform’s cloud storage system, leading to unauthorized access and exposing sensitive Know Your Customer (KYC) data of nearly 230,000 users. The incident raises concerns about user data protection in the cryptocurrency industry, as conflicting narratives emerge between the research findings and Bit24.cash’s official response.

Passports, IDs, and credit cards info compromised

The research by Cybernews exposed a misconfiguration in the exchange’s cloud storage system, providing unauthorized access to KYC data.

The compromised information includes passports, IDs, credit cards, and written consent to regulations for approximately 230,000 users. This breach underscores the vulnerability of user data and prompts users to question the safety of their personal information.

Conflicting claims and reassurances

In response to Cybernews’ allegations, Bit24.cash spokesperson and security engineer Hossein Amini refuted the claims, stating the report was inaccurate and misleading. Amini asserted that there was no evidence of a data breach or unauthorized access to user information.

Contrary to the research findings, Amini confidently declared the security and integrity of the MinIO instance and cloud storage containers, emphasizing their commitment to user security.

Ramin Moradi, the Bit24.cash CTO, also stated on X that Cybernews has not given any evidence on the security breach and as such he cannot I can’t confirm their claim.

Unfortunately Cybernews has spread this article without giving any evidence to us. As https://t.co/uz9oRkpVgH’s CTO I can’t confirm their claim.

— Ramin Moradi (@sudoramin) January 8, 2024

Bit24.cash also stated that after “careful investigation, our technical team found the claims to be false and misleading.” They also went ahead to give a number of reasons through a thread of X (formerly Twitter) supporting their conclusion.

Impact on the Iranian crypto market

Bit24.cash, alongside other Iranian crypto exchanges, has been a significant contributor to the country’s crypto market. In 2022, these platforms accounted for 12% of all funds flowing to Iranian exchanges.

The reported security breach not only raises concerns for individual users but also highlights potential repercussions for the broader cryptocurrency ecosystem in Iran. Users are now urged to seek clarification from Bit24.cash support amid the conflicting narratives.

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Monday has seen a flurry of final filings from issuers eyeing approval to list spot Bitcoin exchange-traded funds (ETFs). After BlackRock, VanEck and Ark/21Shares submitted their final changes with low fees, Bitwise intensified the “fee war” with a 0.24% fee rate.

This is after BlackRock set its fee at 0.30% and VanEck and Ark/21Shares at 0.25%. Last week, Fidelity had filed its amended S-1 to show a 0.39% fee. Today’s filing by Bitwise also highlighted a 6-month waiver that means it starts at 0.00%. Meanwhile, BlackRock has indicated a waiver to 0.20%.

Bloomberg ETF analyst James Seyffart shared the update below showing the state of play in terms of what different issuers are proposing.

WOW: This morning was wild for #Bitcoin ETF filers. Here’s the state of play on the fee war front. Lowest long term fee is @BitwiseInvest at 0.24% followed closely by @vaneck_us at 0.25%. But we also have fee waivers on 3 for 6 months down to 0.0%. Plus BlackRock waiver to 0.20% pic.twitter.com/8bfhtFHOfH

— James Seyffart (@JSeyff) January 8, 2024

Bitcoin price jumps as “fee war” erupts

Eric Balchunas, a senior ETF analyst at Bloomberg had earlier commented on the potential for the price war, or “ETF terrordome” intensifying ahead of approval. Are crypto exchanges going to lower their own fees in the wake of this move? 

The analyst suggests they may have to do it before it’s “too late.”

Balchunas also commented on Grayscale Investments’ fee rate that has dropped from 2% to 1.5%, noting the crypto firm’s considerably higher fee could see financial advisors pick the “sub 40 bps” rates offered by the traditional finance heavyweights.

Wow, Grayscale totally defying Terrordome (which they are not natives of) which usually doesn’t work out well but maybe they can afford to given their massive embedded aum and volume. Hard to imagine advisor (where the big money is) picking a 1.5% ETF when others sub 40bps. https://t.co/T60yz3hlXh

— Eric Balchunas (@EricBalchunas) January 8, 2024

Bitcoin price has jumped 1.5% in the past hour to trade above $45,000 as attention turns to the SEC. Most analysts say the go ahead for exchanges to list the ETFs could be given by Wednesday, January 11.

The nod, coming at the beginning of a year expected to be big for the bulls, could see BTC price surpass $50k in coming days. Predictions for this cycle is that Bitcoin could hit $100k or more.

The post BTC retests $45k as BlackRock, VanEck, Bitwise file low ETF fees appeared first on CoinJournal.

• As Bitcoin price looks to break higher amid spot Bitcoin ETF sentiment, analysts are bullish on altcoins.
• Memeinator (MMTR) is also well-positioned as its presale attracts more investors.
• The MMTR price could explode amid the bull market.

While altcoins have struggled amid Bitcoin’s resilience near the $44k area, the overall outlook is that the market is poised for a parabolic move. 

Memeinator, the meme coin that has stirred investor attention amid a strong presale showing, could be one of the tokens to explode amid a thrilling bull market.

Here’s its price outlook ahead of a likely market-defining week for crypto in 2024 and beyond.

Analysts are bullish on altcoins

According to one analyst, the big crypto event this week remains the anticipated approval of spot Bitcoin ETFs – the first such approval in the US. 

ETF experts have put the chances of approval as high as 90%, with this likely to increase given recent engagements between the US Securities and Exchange Commission (SEC) and issuers. These include BlackRock, which reportedly has $2 billion in investment funds ready for the ETF roll out.

Alistair Milne, the CIO of Altana Digital Currency Fund, shared his view of the ETF outlook via X on Monday, January 8. With this the final day for S-1 filings, Milne suggests a SEC vote or decision on Wednesday, January 11 could see spot Bitcoin ETF trading in the US roll out on Thursday or Friday.

If approval is the SEC’s decision and a nod to one or more the outcome, BTC price could erupt significantly. 

Analyst Michael van de Poppe says bullish traction will shift to alts after the ETF approval. Ethereum, predicted to surpass the previous all-time highs of $4,800 could lead the altcoin market.

Elsewhere, the overall injection of upward momentum will accelerate presale projects, with a few breakout tokens standing out as the expected bull market strengthens.

Is this the outlook for Memeinator (MMTR)?

Memeinator is a new meme crypto utilizing AI – which combined with its genuine utility proposition, has it poised for potential dominance of the meme coin space.

A presale for the native token MMTR has quickly become one of the most-talked about across the crypto community, particularly on X (formerly Twitter). After registering a slow start in the first 8 stages of the sale, the MMTR token sale raced through three more stages in just over two weeks.

At $3.1 million out of an expected $3.2 million in stage 11, this show of investor confidence suggests the potential for post-presale price growth is increasing. The funds will go to the project’s development, with the official launch across top exchanges helping drive liquidity and adoption.

This could position Memeinator well ahead of the many worthless meme tokens, whose lack of utility is a major downside.

At current presale price of $0.0186, MMTR has the potential to return 65% when the presale ends and tokens are available to holders.

With analysts predicting major gains for altcoins and meme coins having outperformed in recent months, Memeinator stands a good chance of establishing itself as a major player in the meme coin space.  The price of the native token could therefore explode as the market cap rises towards the targeted $1 billion mark.

Get more on this project, including its play-to-earn game and staking, from their whitepaper. Meanwhile, the presale is accessible here.

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