Monat: August 2024

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Poodlana presale ends in under 72 hours: Should you buy?

  • Poodlana will end its presale on August 16, with token listing on DEX within an hour.
  • Sentiment is rising again as investors target a potential investment opportunity.

Poodlana is one of the new dog-themed tokens to surge ahead of a crucial inflation report on Wednesday. 

The potential for the CPI data to swing the U.S Federal Reserve into action for a rate cut in coming months has the markets in a positive mood. Bitcoin’s surge to above $61,000 has buoyed the broader market, while traders eyeing the bull market are flocking to potentially biggest presale gem of the year – Poodlana (POODL).

Investors eye CPI release

Despite the news that BitGo moved $2 billion worth BTC from Mt. Gox on Tuesday, the benchmark cryptocurrency has remained near the psychologically important price level of $60k. The surge to $61k comes as investors target further indications that the Fed will cut rates.

Experts have largely shared this view, which has traders in position for a potential rally.

According to QCP Capital, investors are likely to pay closer attention to inflation numbers, with this adding to the overall Fed sentiment.

“This week’s inflation data will be key for the markets,” Sylvia Jablonski, chief executive officer of Defiance ETFs told CNBC’s Squawk Box. “If the market gets the sense that rates are going to be cut, we can end up with a positive year, but probably some volatility for the next month or two.”

As noted, cryptocurrencies have climbed in the past 24 hours as Bitcoin edged above $61k and Ethereum broke above $2.6k. Crypto analysts suggest the top cryptocurrencies could be on the path to greater gains, and the recent dip might have provided a crucial buying opportunity.

Poodlana: Buy ahead of presale closing?

Solana meme coin’s market has increased 5.4% to over $6.62 billion. While a fraction of the $2.2 trillion global market cap, these assets have the potential to explode.

Poodlana, which launched its 30-day presale in July, is less than three days away from listing on DEX and potentially one of the top tier crypto exchanges.

The project that combines meme traction in Asia and fashion debuted in presale at the price of $0.02. In just over 27 days, POODL has gone viral with price now at $0.0539 and total amount raised in presale surpassing $7 million.

At the end of stage 10, Poodlana will list on Raydium and possibly one of the major exchanges with the listing price at $0.06.

If cryptocurrencies rally further, Poodlana could mirror top Solana meme coins Bonk, dogwifhat and Popcat that went parabolic after launch. POODL will go live on DEX on Aug. 16 and the next two days or so may be the best time to buy Poodlana.

To find out what sets Poodlana apart, visit the official website.

The post Poodlana presale ends in under 72 hours: Should you buy? appeared first on CoinJournal.

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Coinbase expands crypto services to Hawaii following a regulatory shift

  • Coinbase expands services to Hawaii after regulatory changes ease restrictions.
  • Hawaii residents can now buy, sell, and stake crypto with up to 12% APY on Coinbase.
  • Coinbase still faces legal pushback from the SEC over the disclosure of regulatory documents.

Coinbase has announced the expansion of its services to Hawaii, granting residents access to a broad range of digital asset management options.

This comes on the heels of significant regulatory changes by Hawaii’s Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI), which have opened new avenues for cryptocurrency businesses in the state.

Hawaii’s stringent regulations

For years, Hawaii’s stringent regulations have made it difficult for crypto exchanges to operate within its borders.

A particularly challenging requirement was the mandate for exchanges to maintain cash reserves equal to the value of digital assets held by customers, effectively deterring many businesses from entering the Hawaiian market.

However, recent adjustments, as part of the Hawaii Digital Currency Innovation Lab pilot program, have relaxed these restrictions, allowing companies like Coinbase to establish a foothold in the state.

Hawaiian residents can now use Coinbase

With this regulatory easing, Hawaiian residents can now use Coinbase’s platform and mobile app to engage in the buying, selling, and management of cryptocurrencies.

In addition to these services, users can participate in crypto staking, earning up to 12% annual percentage yield (APY) on select digital assets.

This marks a significant shift for Hawaii, where the interest in cryptocurrencies has been growing, yet opportunities were previously limited due to the state’s tough regulations.

For Coinbase, its entry into Hawaii not only expands its user base but also highlights the state’s commitment to fostering innovation in the digital currency space even as the exchange battles with the US SEC concerning the disclosure of documents related to the application of securities laws to digital assets.

The post Coinbase expands crypto services to Hawaii following a regulatory shift appeared first on CoinJournal.

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Tether invests $3 million in Kem to bolster USDT adoption

  • Tether announces $3 million strategic investment in Kem app to boost adoption of its stablecoin USDT.
  • Kem’s partnership helps Tether’s commitment to financial inclusion across the globe, Tether CEO Paolo Ardoino said.

Tether, the leading stablecoin issuer, is eyeing fresh market penetration with a strategic investment in money transfer and financial management platform Kem.

According to an Aug. 13 announcement, the $3 million investment in Kem app will see the platform add USDT for its users, prompting the stablecoin’s adoption in the Middle East.

“This investment reinforces Tether’s commitment to promoting financial inclusion and stability. We believe that everyone should have the means to protect their families and businesses against inflation while enjoying unrestricted access to financial services,” Tether CEO Paolo Ardoino, said. “Our investment in Kem App is a testament to this belief, as the platform provides tools that simplify access to the financial system, perfectly aligning with our mission to advance financial freedom for all.”

Crypto adoption growing in MENA region

Kem and Tether’s collaboration comes amid growing crypto adoption in the Middle East and North Africa (MENA) region, with this being the sixth largest crypto economy in the world. Combined, the region accounts for an approximately $389.8 billion in on-chain value – a 7.2% total of global volume from July 2022 to June 2023.

Dubai and Abu Dhabi are some of the top destinations for crypto in the region.

Tether recently announced it hit a record $5.2 billion in profit from the first half of 2024, and has vowed to fight a ‘shake down” litigation from Celsius. Ardoino said in a statement that the legal battle is about setting an “example for bad actors.”

The post Tether invests $3 million in Kem to bolster USDT adoption appeared first on CoinJournal.