Kategorie: Crypto Analysis

Key takeaways

• Bitcoin has lost 3% of its value and is trading below $60k once again. 
• Poodlana’s native token is now live on the MEXC exchange after its presale has been concluded.

BTC could drop below $59k as Mt.Gox moves more bitcoins

Bitcoin is underperforming again following a positive start to the week. The world’s leading cryptocurrency by market cap is trading below $60k after losing 3% of its value in the last 24 hours.

At press time, the price of Bitcoin stands at $59,409 and could dip lower if the bears remain in control. The bearish performance comes after Mt.Gox moved over $700 million worth of bitcoins to an unknown wallet. Traders are anticipating more selloff in the market as Mt.Gox distributes more bitcoins to its creditors. 

What is Poodlana?

The broader market is bearish, but the adoption of cryptocurrencies continues to pick up pace, both among retail and institutional investors. 

Poodlana is one of the projects that is gaining traction among investors. It is a Solana-based meme coin focused on introducing the glamor of high fashion to the crypto world. 

By focusing on promoting the ethos of community while providing utility to users, Poodlana could become one of the leading dog-themed meme coins in the world. The team will leverage Poodlana’s popularity in Japan, Korea, and China to build a strong community for this project.

Poodlana’s token now live on MEXC

The Poodlana presale has officially ended, with $8 million raised during the event. The project didn’t waste time getting its token listed on a centralised cryptocurrency exchange.

MEXC, a leading crypto exchange, announced earlier this week that POODL, Poodlana’s native token, is now live on its trading platform. Currently, only the POODL/USDT pair is live on MEXC, but the crypto exchange could list more pairs, such as POODL/BTC and POODL/ETH, in the coming weeks or months. 

Poodlana allocates 50% of the total supply to presale

Poodlana didn’t adopt a lock-up period, which means its tokens are now available to investors. Per their tokenomics, Poodlana will have 1  billion POODL tokens, with 50% going presale. 

The remaining 50% will be divided among marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). 

Poodlana’s team kept their promise and unlocked 100% of their tokens immediately after the presale. The unsold tokens would be burned, ensuring the token’s deflation. 

Should you buy POODL as it lists on exchanges?

If you missed buying the Poodlana tokens during the presale, you can still purchase them from crypto exchanges. At the moment, POODL is only available on MEXC but could be listed on other exchanges soon. 

Meme coins have become a crucial part of the cryptocurrency ecosystem, with several having a market cap of $1 billion or more. With POODL still in its early days, this could be the perfect opportunity to invest in the project.

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• AC Milan has signed Bitpanda as its premium crypto trading partner for 2024/25.
• The partnership includes branding coverage at the San Siro stadium; the deal value is undisclosed.
• This trend reflects a broader move by sports teams to partner with web3 companies.

AC Milan has announced a new sponsorship agreement with Bitpanda, marking a notable shift towards the web3 sector for the prestigious football club. The 2024/25 season will see Bitpanda, a leading crypto trading platform, become the premium sponsorship partner and official crypto trading partner of AC Milan. 

The partnership will feature prominent branding coverage across the iconic San Siro stadium, although the financial details of the deal have not been disclosed.

High-visibility branding opportunities for Bitpanda

AC Milan’s new deal with Bitpanda is part of this evolving landscape, as sports teams explore new revenue streams and innovative partnerships. 

The deal provides Bitpanda with high-visibility branding opportunities at the San Siro, enhancing the exchange’s profile in the global sports arena. This move not only aligns AC Milan with cutting-edge technology but also places Bitpanda at the forefront of crypto-related sports sponsorships.

The collaboration between AC Milan and Bitpanda reflects a broader trend within the sports industry, where professional teams in Europe and North America are increasingly seeking sponsorships from web3 companies. 

A growing number of professional sports teams in Europe and North America are keen to court sponsorships from companies in the web3 sector, whether that company happens to be a crypto exchange or a crypto casino site, a broker or a p2p platform. Teams are turning to these partnerships to tap into the growing digital economy and engage with tech-savvy audiences who are invested in the future of cryptocurrency and blockchain technology.

Similar moves by other football clubs

AC Milan is joining a growing list of clubs that have embraced crypto and web3 sponsorships. 

Notably, Tottenham Hotspur recently announced Kraken, a major cryptocurrency exchange, as its new sleeve sponsor. This partnership underscores the increasing acceptance and integration of digital currency companies into mainstream sports. 

Furthermore, Crypto.com has secured a multi-year sponsorship deal with the UEFA Champions League, a deal that insiders speculate could be worth hundreds of millions of dollars. 

These agreements highlight a significant shift in how sports organizations are leveraging the digital economy to enhance their brand value and reach.

As sports teams like AC Milan and Tottenham Hotspur align themselves with web3 companies, they not only open up new revenue channels but also connect with a demographic that is deeply engaged with the digital and financial technologies shaping the future. 

The AC Milan-Bitpanda deal is a prime example of how traditional sports institutions are innovating and adapting to the evolving landscape of global sponsorships and partnerships.

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Cryptocurrency prices were on edge on Saturday, continuing a consolidation pattern that has been going on in the past few weeks. Bitcoin was trading at $59,000 on Saturday, where it has been stuck this week. Other cryptocurrencies like Cardano, Solana, and BNB tokens have also wavered as the industry has had no major news.

Bitcoin Dogs listing ahead

The next major thing to watch in the cryptocurrency industry will be Bitcoin Dog’s exchange listing after what the developers have said was a difficult phase. 

Bitcoin Dogs is a new cryptocurrency that completed one of the most successful token sales this year as the developers raised over $13 million. 

Its fame happened because it styled itself as the first initial coin offering (ICO) on the Bitcoin network.

In a recent statement, the developers noted that the coin will now list officially on August 21st. Initially, it will list on three exchanges, including Gate.io, MEXC, and Unisat. Other decentralized and centralized exchanges are expected to list the token.

Analysts are optimistic that the token will do well after listing because of its strong fundamentals. In addition to having a cool name, the developers have a good roadmap to create value for the holders. 

For example, they plan to launch an NFT collection with 10,000 NFTs that people can buy, hold, and even trade easily. They also plan to create a Bitcoin Dogs Club Marketplace that will charge a modest fee of 0.5%. These fees will flow back to Bitcoin Dog holders. 

Bitcoin Dogs outlook

We believe that the Bitcoin Dogs token will have some short-term volatility after getting listed in major exchanges. This is a normal part of the process since many holders tend to sell their tokens after listing. 

Also, the volatility will happen because of the current state of the market where most coins are falling. Bitcoin has failed to move above the important point at $60,000 while the market cap of all tokens have moved downwards.

In the long term, however, the Bitcoin Dogs token price will likely continue doing well since it faces numerous catalysts.

First, there are signs that the Federal Reserve will start cutting interest rates in September since the US economy is softening. In most cases, cryptocurrencies tend to do well when the Fed is cutting rates.

Second, Bitcoin Dogs is a highly popular cryptocurrency since it raised over $13 million in just a month. This means that the token might have significant hype as we have seen with other meme coins like Pepe and Bonk.

Third, Bitcoin Dogs could benefit as Bitcoin moves from the current accumulation phase to a rebound. Remember, the monthly chart shows that Bitcoin has formed a cup and handle chart pattern on the monthly chart. In most cases, this pattern leads to more upside. You can learn more about Bitcoin Dogs here.

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The Grand Palais in Paris, a prominent venue for the 2024 Summer Olympics, has become the latest victim of a high-profile cyberattack. Hackers infiltrated the venue’s digital infrastructure, demanding a significant ransom in cryptocurrency. This incident not only underscores the persistent cybersecurity threats but also highlights the increasing use of cryptocurrencies in cybercrime.

The cyberattack occurred at the beginning of August 2024, targeting the Grand Palais, which hosted several high-profile Olympic events. According to reports, the attackers gained access to sensitive financial data and threatened to release this information unless their demands for a cryptocurrency ransom were met​.

Cybersecurity Challenges & The Role of Crypto

This attack on the Olympic venue brings to light the ongoing cybersecurity challenges faced by major international events. With the world watching, the stakes are incredibly high. The attackers were essentially playing a high-stakes game, akin to a digital blackjack, where they bet on the swift response and compliance of their targets to secure the cryptocurrency ransom.

Cryptocurrencies have become a preferred medium for ransom payments due to their pseudonymous nature. The ability to transfer large sums of money quickly and with relative anonymity makes cryptocurrencies an attractive option for cybercriminals. This incident is a stark reminder of the dual-edged sword that cryptocurrencies represent – while they offer numerous benefits for legitimate users, they also provide tools for malicious actors​.

Response and Mitigation

In response to the attack, the organizing committee of the Paris 2024 Olympics worked closely with cybersecurity experts and law enforcement agencies to contain the breach and mitigate further damage. The compromised systems were secured and measures were put in place to protect other vulnerable infrastructure from similar attacks.

Furthermore, this incident is expected to prompt a reevaluation of cybersecurity measures at large-scale events. It emphasizes the need for robust, proactive security protocols and the importance of staying ahead of evolving cyber threats.

Broader Implications

The cyberattack on the Grand Palais is not an isolated incident but part of a broader trend of increasing cyber threats targeting high-profile events and institutions. It serves as a wake-up call for organizers of major events worldwide to prioritize cybersecurity and to prepare for potential threats that could disrupt operations and compromise sensitive information.

Demanding cryptocurrency ransom is a stark reminder of the vulnerabilities that exist in today’s digital landscape. As cryptocurrencies continue to gain prominence, they also attract the attention of cybercriminals looking to exploit their unique properties. This incident underscores the urgent need for enhanced cybersecurity measures to protect against such high-stakes digital threats, ensuring the safety and integrity of global events like the Olympics.

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Poodlana, the fast-growing Solana meme coin, is set to list on Raydium, on Friday after running one of the most successful token sales of the year. 

Poodlana token listing is nearing

With four hours to go, the developers have raised over $7.9 million from investors, a figure that could top $8 million.

Poodlana, unlike other cryptocurrencies that spend months before listing in exchanges, will start trading almost immediately after the sale ends. Precisely, it will start trading on Raydium, just one hour after that. 

Raydium has grown into the most popular Solana DEX. Data by DeFi Llama shows that the network has over $910 million assets in the ecosystem. At the same time, it has handled over $2.7 billion worth of transactions in the last 7 day and is continuing to gain market share. 

Raydium is not the only exchange that is expected to list Poodlana. MEXC, one of the biggest crypto exchanges in the world, has pledged to list the token on August 19th while the developers have hinted that a major tier 1 exchange – most likely Binance or OKX – will list it on August 23rd.

Listing the Poodlana token is just the beginning of what is expected to be a long journey to make the POODL token one of the biggest meme coins in the world. After its launch, the developers will continue marketing the token in a bid to make it the most popular asset in crypto. 

The next phase will involve building the ecosystem, such as introducing staking, where users can earn returns. They will also launch more airdrops and bonuses to reward long-term holders. 

The ecosystem growth is important in the meme coin industry, which is often short-term. Just this year, many meme coins like MOTHER, DADDY, and WATER surged, attracted buyers, and have now imploded.

Poodlana’s appeal

Poodlana hopes to change the short-term nature of meme coins. As part of its appeal, the developers have named it after Poodle, a highly popular Japanese dog that often sells for more money than other brands like Shiba Inu and Floki.

At the same time, it is a luxury brand that sees itself as Hermes, the most popular brand among the elite. While most luxury brand stocks like Kering and Burberry have slumped, Hermes stock has risen to the highest point on record.

There are other reasons to be bullish on Poodlana now that cryptocurrencies are retreating and the sentiment has waned. In a statement, Miles Deutscher, a popular crypto analyst, hinted that this boring phase could be a form of accumulation and that cryptocurrencies could bounce back soon.

We’re entering the apathy/time capitulation phase again.

In the last 2 weeks:

• Crypto YT views are down ~-30%
• Coinbase app ranking is down from #159 to #502
• Trading volume is down -21% (Binance)

Strap in. Things are getting boooooooring.

— Miles Deutscher (@milesdeutscher) August 14, 2024

The main catalyst for these coins will be the upcoming Federal Reserve interest rate cuts, the end of the summer season, and the end of the American election. You can buy the POODL token here.

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