Monat: April 2024

• Shiba Inu (SHIB) reportedly dominated trading volume on India’s largest crypto exchange WazirX in March.
• KangaMoon offers presale participants a chance to earn KANG before its game and NFT launch.
• The project is currently in stage 5 of its presale and has raised over $4 million.

Shiba Inu (SHIB) topped the list of most traded tokens on India-based crypto exchange WazirX in March, according to a news update the exchange shared via X. 

Meanwhile, new meme coin project KangaMoon (KANG) has surpassed the $4 million mark in its presale.

Shiba Inu leads in trading volume on India’s WazirX

According to a post on X, SHIB topped monthly trading volumes for March, surpassing Bitcoin (BTC) and top meme coins Pepe (PEPE), Floki (FLOKI) and Dogecoin (DOGE).

Trading volume soaring in India is a reflection of the token’s strength, particularly with meme coins dominating amid a shift to long-term outlook rather than speculative hype.

As one of the top meme projects, Shiba Inu is looking to go beyond the meme tag. 

The Shiba Inu team has targeted this growth with the launch of the DEX platform ShibaSwap and layer-2 chain Shibarium. There’s great traction for the token amid overall positivity around the meme coin ecosystem.

While the price of SHIB, the second-largest meme coin by market cap behind Dogecoin, has decreased this past week, it remains one of the top trending tokens. SHIB price is up 3% in the past 24 hours and is also green against BTC and ETH.

KangaMoon (KANG) project gains traction amid meme craze

KangaMoon is a new meme coin that integrates the best of SocialFi and play-to-earn. The virtual immersive world of a kangaroo boxing adventure and NFTs mean KangaMoon’s design has two of the hottest trends in the market.

The access to the P2E game and NFTs are thus top features that put KangaMoon in the mix for best altcoins to buy in the market today.

But more than this, it’s the offering of real utility and value to its token holders right from when one joins the presale that sets this project apart in a flooded crypto presale market.

Unlike many meme coin projects, KangaMoon goes beyond being community-driven to offer in-game assets that make monetization of gaming time of real benefit to KANG holders.

The project has a total supply of 1 billion tokens, 60% of which (600 million) are available in presale. Another 150 million are for in-game rewards, while staking and buybacks will account for 100k and 50k respectively.

Should you buy KangaMoon as presale hits $4 million?

Currently in stage 5, total amount raised has crossed the $4 million mark, with price rising from $0.005 to $0.0196. The price remains relatively at extremely bargain levels, suggesting buying now could be a huge opportunity.

In particular, this is an outlook likely to strengthen as experts predict continued growth for meme coins. Also notable is the estimated growth for the global play-to-earn and NFT game market, with research showing a potential spike from $3.6 billion at a CAGR of 21.3% to 2028.

With KangaMoon, meme culture meets the benefits of P2E and SocialFi, with anyone able to earn KANG tokens by taking part in various gameplay challenges.

If they are not engaging in epic battles, token holders can tap into the top fighters’ potential by placing bets.  KANG rewards are available weekly, monthly and quarterly.

The excitement around this project has seen the KangaMoon presale gain massive popularity. Investors who may have missed Shiba Inu, Pepe, Floki and recently dogwifhat, are increasingly betting on KANG. 

Learn more about KangaMoon here.

The post Shiba Inu tops trading on WazirX as KangaMoon presale hits $4 million appeared first on CoinJournal.

• Algotech presale has raised more than $3.6 million as market turns attention to the AI-powered trading platform.
• Cryptocurrency prices fell as stocks dipped amid dip in investor confidence in interest rate cuts this year.
• Bitcoin also dipped as the US government sold a huge chunk of Silk Road BTC.

Cryptocurrencies saw a slight dip as rising yields and fresh signals for interest rate hikes dented investor confidence across the market.

Bitcoin, which fell below $65k late Tuesday, is looking to steady ship above $66k while new crypto project Algotech (ALGT) continues to capture market attention.

Crypto market looks to steady after sharp declines

Bitcoin (BTC) led the broader crypto market in sharp declines on Tuesday as stocks also fell amid fresh investor uncertainty.

BTC touched lows of $65k and Ethereum fell to $3,220 as Dow Jones Industrial closed lower. Crypto and stocks saw the decrease as Treasury yields rose and gold jumped by 10%. Notable comments by Fed officials about interest rates likely remaining higher for longer triggered the sell-off.

Also triggering the downside action was news of the US government’s sale of over $130 million worth of BTC linked to Silk Road. Although the US notified the public of this sale in January this year, Bitcoin price still reacted negatively to the development.

However, Bitcoin is back above $66,500 and Ethereum is above $3,340. Experts say the weakness remains but strong demand amid BTC halving, spot ETFs and other catalysts are key factors going forward.

According to analysts at QCP, institutional adoption of crypto is just getting started, a scenario that will drive BTC higher.

Algotech captures market attention

New innovations have hit the crypto market amid greater adoption, with the decentralised finance (DeFi) among those to see a huge turnaround amid bull market projections.

The trading space is also heating up, particularly with traders looking to tap into the benefits of non-custodial and algorithmic trading. Algotech, a new DeFi platform offering AI-powered trading solutions, aims to redefine this space.

The Algotech whitepaper describes a platform designed to expand investor reach with advanced algorithmic trading strategies. The protocol leverages AI and machine learning to create a solution that is data-driven.

Automation helps minimise trading biases that largely come with emotional aspects. It also features trading signals and other top tools that users can tap into to stay on top of the trading market.

Algotech presale: ALGT token sale accelerates

Algotech recently launched the presale for its native token ALGT. The token will offer utility and governance functionality, with holders benefitting from added perks such as discounts and share of platform revenue.

With more than $3.6 million raised this new DeFi platform could stand out as one of the projects to watch.

ALGT is currently available in presale at $0.08 and could explode if market conditions and overall project growth align.

Interested in learning more about Algotech? Check out the project’s whitepaper or visit their website.

The post Algotech presale accelerates as crypto market steadies appeared first on CoinJournal.

• TRON Foundation and Justin Sun lead other co-accused to challenge SEC’s jurisdiction in lawsuit.
• The defendants argue SEC lacks authority over foreign conduct and they seek dismissal.
• The defendants have filed a motion invoking the major questions doctrine.

The TRON Foundation, led by founder Justin Sun, has filed a motion to dismiss a lawsuit brought by the U.S. Securities and Exchange Commission (SEC).

In the motion, the defendants argue that SEC’s attempt to extend U.S. securities laws to predominantly foreign conduct lacks legal grounds. They emphasize that SEC’s regulatory reach does not extend worldwide, especially concerning activities conducted outside the United States.

The defendants, including TRON Foundation, Tron founder Justin Sun, BitTorrent Foundation, and Rainberry, assert that the SEC’s claims lack merit and should be dismissed.

Despite Rainberry’s California registration, the defendants argue that the SEC’s pursuit of claims lacks fair notice and raises concerns about regulatory overreach. Rainberry, while not contesting the court’s jurisdiction, seeks dismissal on grounds unrelated to jurisdiction, highlighting the lack of specificity in the SEC’s allegations.

Invoking the major questions doctrine

Furthermore, the defendants invoke the major questions doctrine to challenge the SEC’s regulatory authority in the digital asset market. They argue that the SEC’s expansive regulatory actions lack clear congressional authorization, thereby warranting dismissal of the case.

This legal precedent, aimed at curbing government overreach, underscores the defendants’ concerns regarding the SEC’s regulatory overreach and its implications for the global digital asset market.

The motion to dismiss the lawsuit highlights the defendants’ stance against the SEC’s allegations of selling and airdropping unregistered securities, fraud, and market manipulation. The TRON Foundation and Justin Sun maintain that the SEC’s claims fail to demonstrate jurisdiction and raise broader questions about regulatory authority and fair notice in the evolving landscape of digital assets and blockchain technology.

By challenging the SEC’s jurisdiction and regulatory authority, the TRON Foundation and Justin Sun signal a broader debate surrounding the global reach of securities laws and the evolving regulatory framework for digital assets.

With the outcome of the lawsuit poised to impact the regulatory landscape for digital assets, stakeholders await further developments in this high-profile case.

The post TRON Foundation and Justin Sun claim SEC lack jurisdiction over foreign defendants appeared first on CoinJournal.