Monat: Juli 2024

Veröffentlicht am

Germany still holds $2.2B worth of Bitcoin as Tequila (JULIO) presale draws closer

Key takeaways

  • Germany still holds more than $2 billion worth of bitcoins.
  • Tequila’s presale will commence soon as the project looks to become a leading Solana meme coin.

German government still holds over $2 billion worth of bitcoins

The cryptocurrency market has underperformed over the last seven days, thanks to the movement of bitcoins by the German government and the now-defunct Mt.Gox crypto exchange.

The potential selling pressure saw Bitcoin lose roughly 9% of its value over the last seven days. However, data obtained from Arkham Intelligence revealed that Germany still holds 29,286 BTC worth $2.2 billion.

Germany has been running down its coin stash since mid-June. Further dumping of its bitcoins into the market could negatively affect Bitcoin’s price in the short term. 

Tequila (JULIO) to debut as a Solana meme coin

Solana has become home to some of the leading meme coins in the world thanks to the blockchain’s speed, transparency, and other unique qualities.

Tequila is set to become the latest Solana-based meme coin and looks to provide unique utility to investors and traders. 

Tequila is Mexico’s gift to the world from the agave fields of Jalisco. Its native token, $JULIO harmonises the unending fun of tequila-fueled nights with the upside of a memecoin.

$JULIO is set to launch on July 10 on the Solana blockchain and distinguishes itself by combining the allure of tequila, one of the world’s most popular distilled liquors, with the excitement of meme coins.

According to their roadmap, there are various stages to the project, including Agave Plating, Distillation, Aging, and Bottling. Each phase contains milestones that the team intends to achieve. 

JULIO tokenomics

Tequila is presenting investors with a unique tokenomics. The project seeks to establish a strong foundation within the crypto community and get listed on CoinMarketCap and CoinGecko. 

In the distillation stage, $JULIO will be listed on centralised cryptocurrency exchanges. However, the team is yet to reveal the crypto exchanges its token will initially launch. Tequila has a total supply of 100 million tokens, with the project emphasising fairness through a fair launch model. In this model, 90% of tokens are available for public acquisition, with only 10% allocated to marketing. The initial liquidity and starting price will be decided at a later date. 

The Aging phase of Tequila’s roadmap includes listing on tier-1 centralised exchanges and its Tequila-themed parties. Finally, the Bottling phase comprises its Meme utility, the launch of $JULIO on Layer-3, and the creation of Tequila spirit with payments exclusively made in $JULIO. 

Tequila seeks to leverage the high interest in meme coins at the moment to launch an exciting project. Thanks to its unique value proposition, Tequila could quickly become one of the leading meme coins on the Solana blockchain. 

Read more about the Tequila project here. 

Should you buy $JULIO during presale?

The Tequila presale could be the perfect opportunity to buy $JULIO tokens at a discount price. The project is leveraging the high interest in meme coins to become a favourite amongst investors. 

Tequila is set to introduce a fresh perspective with its thematic approach and this could gain massive adoption in the market. If it does, early investors would be amongst the top winners in the current bull cycle.

The post Germany still holds $2.2B worth of Bitcoin as Tequila (JULIO) presale draws closer appeared first on CoinJournal.

Veröffentlicht am

LiquiTrade faces sanctions as Canada cracks down on unregistered crypto exchanges

  • LiquiTrade faces sanctions for illegal operations under Canada’s Securities Act.
  • BCSC found LiquiTrade enabled unregistered trading of crypto derivatives.
  • Four exchanges have been banned amid the heightened Canada’s crackdown.

LiquiTrade, operator of the Latoken crypto exchange, faces impending sanctions for violating the Canada’s Securities Act.

The British Columbia Securities Commission (BCSC) has found LiquiTrade guilty of operating an illegal exchange, highlighting ongoing efforts to enforce compliance within the burgeoning digital asset sector.

LiquiTrade not registered in Canada despite having a 1.5M users

LiquiTrade came under scrutiny after processing an estimated $300 million in daily transactions for its 1.5 million user base, despite never registering under Canada’s Securities Act.

The BCSC panel determined that LiquiTrade facilitated trading of contractual rights related to crypto assets, which are classified as derivatives investments under Canadian law. This classification mandates registration with the BCSC before engaging in such activities, a requirement LiquiTrade failed to meet.

The investigation revealed that LiquiTrade operated as an unauthorized exchange in British Columbia, where no recognized exchange or clearing agency operated under its name.

This finding underscores the commission’s commitment to maintaining regulatory oversight and protecting investors from potential risks associated with unregistered trading platforms.

Four crypto exchanges already banned in Canada

Canada’s regulatory approach towards cryptocurrencies has been increasingly stringent, with four crypto exchanges already banned, including Catalyx, KuCoin, Poloniex, and xt.com.

Meanwhile, fifteen licensed trading platforms, such as Bitbuy, Coinbase, and Fidelity, are authorized to operate within the region, complying with stringent regulatory requirements.

The upcoming sanctions against LiquiTrade, set to be finalized by August 14, 2024, could range from monetary penalties to a complete ban on its services.

LiquiTrade’s enforcement action serves as a stark reminder of the consequences for non-compliance with securities laws.

The post LiquiTrade faces sanctions as Canada cracks down on unregistered crypto exchanges appeared first on CoinJournal.

Veröffentlicht am

Traders eye the next Solana meme coin: Tequila (JULIO)

  • Solana meme coins have done well and gained market share this year.

  • Developers have turned to Solana because of its faster speeds and low costs.

  • Tequila (JULIO) hopes to become the next big thing in the meme coin industry.

Solana meme coins have done well this year as they became the biggest competitors to Ethereum ones like Pepe and Shiba Inu. Dogwifhat (WIF) has become the fourth-biggest meme coin in the world while Bonk and Book of Meme have continued to gain market share. 

More Solana meme coins are being launched to take advantage of this trend. One of the most anticipated ones is known as Tequila (JULIO), whose fair launch will happen on July 10th. 

Why Solana meme coins have done well

Solana meme coins have become the best-performing assets in the crypto industry this year. That happened as Solana became the best alternative to Ethereum’s ecosystem. 

There are three main reasons for this. First, Solana is known for its quicker transaction speeds compared to Ethereum and BNB Chain. Solana can handle over 2,000 transactions per second (TPS) while Ethereum handles less than 50. 

Second, Solana is known for its scalability sincer it is designed to scale with Moore’s Law, which implies that it does well as the computing industry improves. 

Third, Solana has substantially lower costs than Ethereum and other popular layer-1 networks. It handles many transactions for just cents. A good example of this is in its total fees this year. While Ethereum has collected over $1.4 billion in fees this year, Solana has made less than $300 million.

Further, there is a lot of hype surrounding the success of Solana dApps this year. For example, decentralized exchanges (DEX) like Raydium, Jupiter, and Orca have constantly moved into the top ten of the biggest DEX networks in the industry. Also, Solana meme coins have made more headlines this year.

Tequila hopes to be a key Solana meme coin

The past few weeks have seen several drink-related tokens on Solana’s ecosystem. Beercoin and Water did not do well as insiders dumped the tokens shortly after launch, leading to substantially losses. 

Tequila, which is a popular drink that originated from Mexico, hopes that it will become the biggest drink-themed token on Solana’s ecosystem. This is notable because of the role that tequila plays in the drinks industry. In 2023, Mexico shipped over 400 million liters and made over $32 billion in revenue.

Tequila will not have a typical token sale. Instead, it will have a fair launch on July 10th. A fair launch is where all tokens are issued instantly. After that, the developers hope to launch its marketing push and listings on key platforms like CoinMarketCap and CoinGecko.

This process will be followed by the listings on key centralized exchanges and the launch of tequila-themed parties. In the future, the developers will work to launch the utility features of the JULIO token, including its layer 3 networks. You can learn about Tequila (JULIO) here.

The post Traders eye the next Solana meme coin: Tequila (JULIO) appeared first on CoinJournal.

Veröffentlicht am

Could Poodlana become the next big meme coin?

  • Cryptocurrency prices have retreated sharply in the past few weeks. 

  • Bitcoin has crashed below $60,000 and formed a double-top pattern.

  • Poodlana aims to become the next big thing in the crypto industry.

The crypto industry has faced substantial headwinds in the past few weeks. Bitcoin has moved to a bear market while most tokens have dropped by double digits from their highest levels this year. Despite this price action, there are signs that Poodlana, an upcoming Solana meme coin will be the next big thing in the crypto industry.

Why cryptocurrencies have dropped

There are a few reasons why Bitcoin and other altcoins have dropped recently. First, we have had no major news in the industry since April when the Bitcoin halving happened. As a result, there have been fears that a new crypto winter is happening, which explains why the fear and greed index has moved to the fear zone. 

Second, the Securities and Exchange Commission (SEC) is yet to approve a spot Ethereum ETF, which is seen as an important catalyst for the industry. Still, there are signs that the agency will do this approval in the next few months. 

Third, these coins have jumped amid supply and demand dynamics. Bitcoin supply has reduced sharply in the past few months because of the halving event. However, there are signs that supply increased from other areas. For example, the German government has continued depositing coins in exchanges, which happens before liquidation. 

Further, Mt. Gox has continued to move coins to wallets. Altogether, the German government and Mt.Gox could bring Bitcoin worth billions of dollars to the market. In a statement last week, Justin Sun offered to buy Bitcoins from the German government though it is unclear whether it will accept the offer.

There are other reasons why this crash has happened. Technically, Bitcoin has formed a double-top pattern, which is a popular bearish sign.

The case for Poodlana

Despite these issues, there are signs that Poodlana, an upcoming Solana meme coin, will be the next big thing in the crypto industry. 

Poodlana, which is derived from the term poodle, a popular Japanese dog breed, aim to be the Solana alternative to other dog meme coins like Floki, Dogecoin, and Shiba Inu.

The developers will start its 30-day token sale on July 17th, which will be followed by a DEX listing. Unlike other token sales, Poodlana’s sale will move to Raydium and other Solana DEX platforms 60 minutes after the sale ends. 

There are a few reasons why Poodlana could be a big meme coin. First, there are signs that dog-themed tokens are doing well. Recently, a token known as Billy, has accumulated a market cap of over $117 million. 

Myro, another Solana meme coin, has had over $109 million in market cap while Brett and Dogwifhat are valued at  $1.17 billion and $4 billion, respectively.

Poodlana will likely join them because of poodles popularity in key Asian markets like South Korea, Japan, and China. 

Further, the developers are planning numerous activities to boost its value. Some of these growth strategies are a marketing blitz, a staking platform, and exclusive airdrops to holders. You can learn more about Poodlana here.

The post Could Poodlana become the next big meme coin? appeared first on CoinJournal.