Kategorie: Crypto Analysis

Daily headlines and news about crypto analysis.

Veröffentlicht am

Poodlana token sale nears $8M ahead of Raydium listing

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.

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.

The post Poodlana token sale nears $8M ahead of Raydium listing appeared first on CoinJournal.

Veröffentlicht am

Poodlana announces MEXC listing as presale surpasses $7 million milestone

Poodlana, a rapidly emerging player in the world of Solana-based memecoins, has announced its upcoming listing on the MEXC exchange, with the listing slated for August 19. This development comes as the token’s highly successful presale draws to a close, set to end on August 16. With only hours remaining, investors are rushing to participate in what is being hailed as one of the most promising opportunities of 2024.

The presale, which has already raised more than $7 million and is still garnering significant attention, is reflective of a broader trend in the crypto market this year: the rapid rise of Solana-based memecoins. These tokens, known for their vibrant communities, high volatility, and potential for high returns, have captured the imagination of retail investors and traders alike.

Among these, Poodlana stands out not just for its timing but also for its robust growth, positioning itself as a leader in this burgeoning market.

With only a short window left, the token is expected to continue its impressive performance, supported by listings on top exchanges like MEXC. The token’s rapid growth is drawing comparisons to other major success stories, leading many to speculate on its long-term potential.

Adding to the excitement is the fact that Poodlana‘s presale has been one of the fastest-moving and most talked-about events in the crypto space this year. The limited time remaining to participate has sparked a sense of urgency among potential buyers, who are weighing the risks and rewards of getting in before the window closes.

The Poodlana team have also revealed that POODL will list on a second exchange on August 23, just a few days after its MEXC listing.

While the details about this second CEX listing are yet to be revealed, there is growing speculation that it could be Binance.

The post Poodlana announces MEXC listing as presale surpasses $7 million milestone appeared first on CoinJournal.

Veröffentlicht am

The rise of neo-banking and its role in banking the underbanked


Emerging nations are the fastest growing regions in crypto adoption and the growing presence of neo-banks plays the biggest role in this growth. Could these innovative platforms be the solution to financial inequalities and the lack of adequate banking services for over one billion people?

As Satoshi once remarked in his now-stopped social messages, “Bitcoin would be convenient for people who don’t have a credit card or don’t want to use the cards they have”. Emerging nations whether in  Africa, Latin America or South East Asia could resonate more truly to this statement than others. Over the past half-decade, the growth of neo-banks in developing countries has caused a revolutionary change in how the populous interact in their economies and a radical change in their financial systems. 

Crucially, the billions of unbanked and underbanked are finally integrated into the global financial systems, despite the lack of efficient banking structures in their respective nations. 

This article will break down how cryptocurrency is benefiting the unbanked (and underbanked) and the role neo-banks play in providing financial services to countries with little hope of having a stable banking infrastructure. The piece further looks at the role developing countries play in growing the crypto ecosystem and various technological advancements in the industry as a result of rapid adoption across Sub-Saharan Africa, Latin America and Southeast Asia regions. 

Financial Inequality in Underserved Economies

According to World Bank reports, over 1.2 billion people across the world are either unbanked or underbanked. Developing countries remain the most affected nations with over 50% of the population having little to no access to solid banking infrastructure or basic financial services such as loaning facilities, savings accounts, etc. 

The advent of blockchain technology and cryptocurrencies sparked a drastic change in the global financial system, providing previously unavailable financial systems to citizens of these nations. The emergence of this decentralized industry is becoming a force in the global financial landscape, redefining traditional currency, transactions, and financial systems. 

Cryptocurrencies, powered by blockchain technology and cryptographic principles, are opening up the financial world to developing nations, allowing previously unbanked and underbanked citizens to participate in the financial ecosystem. These assets have opened up new avenues to transact and store value by giving everyone access to fast and low-cost digital cash that can be spent anywhere. 

The Rise of Neo-Banks and Decentralized Finance (DeFi)

The global financial crisis in 2008 brought rise to several innovations in the industry, majorly the growth of neo-banking. Neo-banks refer to financial technology firms that are redefining how banking services are delivered to consumers, from seamless digital experiences to lower transaction fees and accessibility via smartphones, etc. 

The most prominent form of neo-banking arose in Kenya, with the launch of M-Pesa, a mobile-based financial service that allowed anyone with a SIM card and a phone to send and receive money. Over the years, such innovations have evolved into formidable players in the financial sector, as they revolutionize traditional banking and financial services. 

Recently, decentralized finance (DeFi) apps have come to the fore, providing digital and decentralized alternatives that offer personalised user-centric services that resonate with crypto-savvy consumers. Notwithstanding, crypto exchange apps have sprouted rapidly offering anyone across the world an opportunity to access cryptocurrencies directly on their smartphones. These apps ensure advanced security measures, and seamless integration of fintech solutions, setting them apart from traditional finance services. 

As such, developed countries have been able to join the global financial systems, signifying a paradigm shift in the transformative power of crypto for the modern consumer. 

Crypto Exchanges May Challenge The Status Quo

As alluded to, crypto exchanges are diversifying to wider markets, moving from simple on-ramp and off-ramping business models to becoming neo-banks and challenging the traditional finance system – global, low-cost and very accessible to the unbanked. Crypto adoption is becoming more prominent for the 1.2 billion and financial services and products are more sophisticated and accessible. Could this pose a threat to the traditional banking systems? 

The jury is still out on that but the solutions provided by these “decentralized neo-banks” are having a great effect on emerging nations’ economies – financial inclusion, low-cost remittance fees, and fast and secure transactions have driven the growth of crypto in these economies. 

Boxwind, a digital asset exchange platform set to launch later in the year, brings these solutions to the 1.2 billion who need such services. From trading to lending, saving, trading, and a channel to affordably transfer crypto cryptocurrencies into and around emerging economies.  The exchange is designed with advanced functionalities for new and experienced investors, providing spot and derivatives trading of over 300+ digital assets, on-ramp and off-ramp solutions, staking services, borrowing/lending and much more. 

The platform also features its brainchild, PIP World, a service that aims to empower users via Edutech programs, gamified trading, and AI-powered gaming. PIP Trader, one of the gamefied and educative platforms,  allows users to team up, battle in trading games, and earn rewards on an AI-powered game. 

Looking Ahead

Chainalysis’ 2023 Crypto Report showed that over 40% of the world’s cryptocurrency users reside in lower-middle-income countries (LMICs), with the number growing every year. This impressive growth is heavily influenced by CEXs and the vast services they offer. Regulated crypto exchanges could be the main driver of sustained adoption rates by facilitating neo-banking services to the underbanked. 

Crypto adoption in emerging economies presents a unique opportunity to empower individuals, enhance skills and financial literacy, and provide solutions to financial inequalities. For the industry to really grow, however, several things must be put in place including setting up secure platforms, regulatory compliance, users’ funds protection, easily accessible platforms, and educating the masses on the technology.

 

The post The rise of neo-banking and its role in banking the underbanked appeared first on CoinJournal.

Veröffentlicht am

Crypto price prediction: Sui, Bitcoin, Poodlana

SUI’s bullish momentum has has boosted it to the day’s top gainer among cryptos as Bitcoin struggles to break the crucial zone of $60,000. Meanwhile, Poodlana has meme coin traders at the edge of their chairs with less than 100 hours to go before it hits the public shelves.

SUI is the day’s top gainer

Among the trending cryptocurrencies in the new week is SUI. As at the time of writing, it was the top gainer among cryptocurrencies with its price up by 20.52% in the past 24 hours as indicated by CoinMarketCap. Notably, it has maintained this impressive momentum for days; having risen by 118.82% in the past 7 days.

Bull traders’ optimism has continued to boost the altcoin following Grayscale Investments’ announcement on 7th August. While launching two new investment trusts for Sui (SUI) and Bittensor (TAO) tokens, the firm’s head of product & research, Rayhaneh Sharif-Askary stated, “We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain”.

A look at its daily price chart shows SUI above the 50-day EMA and an RSI of 68. Besides, it has risen past the descending channel; aspects that point to a strong bullish trend. In the short term, it will likely be range-bound between 1.1360 and 0.9710 as bulls gather enough momentum to retest June’s high at 1.1785. On the flipside, a pullback past the aforementioned support level may have it drop to 0.8858 before rallying further.

Poodlana’s pre-sale is in its last 100-hour leg

While SUI has been one of the trending cryptos in recent sessions, a greater hype lies in one of the newest projects – Poodlana. Indeed, with all the facts and excitement around it, it may end up being the biggest Solana listing of 2024; possibly even outperfoming Dogecoin.

With less than 100 hours to go before the presale ends, the project has already raised $6.76 million. In addition to the popularity of meme coins, POODL’s status has largely been boosted by its association with luxury. It is named after the Poodle; a dog breed associated with luxury fashion especially in Asia. Besides, it has packaged itself as The Hermes of Crypto.

Notably, Poodlana buyers are optimistic that it will continue on an uptrend once it starts trading an hour after the end of its presale. Granted, those buying at its current price of $0.0499 already have gains locked with the next stage price set for $0.0539. This means that with a modest investment of $150, you get 3,006 tokens. In the next 20 hours, that will equate to 2,782 tokens; a significant difference, right? You can learn more about Poodlana token here.

Bitcoin struggles around $60,000

While the extreme fear experienced a week ago appears to have eased, the hesitance is still pulpable. As such, Bitcoin is struggling to break past the $60,000 zone in this week’s first trade session.

On a daily chart, it continues to trade below the 25 and 50-day EMAs. This substantiates last week’s outlook of a dead cat bounce. In the short term, the range between 57,121 and 61,925 is worth watching.

 

The post Crypto price prediction: Sui, Bitcoin, Poodlana appeared first on CoinJournal.

Veröffentlicht am

Has crypto’s impact on gaming been truly realised yet?

  • Cryptocurrencies can enhance gaming with fast transactions and privacy benefits
  • Legal ambiguities in South Africa restrict crypto betting despite market growth
  • Global adoption of crypto in gaming is also facing challenges due to volatility and regulation.

The world of gaming is no longer confined to traditional platforms and payment methods. The advent of cryptocurrencies has introduced a new dimension to gaming, particularly online betting, offering a range of benefits and challenges that are reshaping the industry. 

As the integration of crypto into gaming platforms becomes more prevalent, whether its impact has been fully realised is a complex question, especially in regions like South Africa where online gambling is evolving but remains legally ambiguous.

Cryptocurrency’s growing influence in online gaming

Cryptocurrencies have made significant inroads into the gaming industry, offering both operators and players a range of benefits. 

One of the primary advantages is speed. Transactions using cryptocurrencies are often processed within minutes, compared to traditional payment methods like bank transfers or PayPal, which can take several days. This immediacy enhances the gaming experience, particularly for online sports betting and casino games where quick access to funds is crucial.

Another notable advantage is privacy. Crypto transactions do not require users to disclose sensitive personal information, unlike conventional banking methods. This feature appeals to gamers who value anonymity and wish to avoid the scrutiny that can come with traditional financial transactions. 

Additionally, the decentralized nature of cryptocurrencies eliminates the need for intermediaries, which can reduce transaction fees and costs.

Moreover, the volatility of cryptocurrencies presents both risks and opportunities. While price fluctuations can lead to significant gains or losses, savvy gamers might leverage these dynamics to their advantage. This element of investment adds an extra layer of excitement for those who understand the market.

The legal landscape of online betting in South Africa

In South Africa, the legal status of online betting and cryptocurrency usage is complex and somewhat ambiguous. 

The National Gambling Act of 2004 regulates gambling activities in the country but does not explicitly address online betting on games in South Africa. This gap in legislation has led to a situation where online sports betting is legal, but online casinos and other forms of interactive gambling are technically illegal.

Despite the legal uncertainties, South Africa’s online sports betting industry has experienced significant growth. 

In 2020, the market was valued at R3.27 billion, with nearly 50% of South Africans placing sports bets in the previous year. Rugby, cricket, and soccer are among the most popular sports for betting in the country.

By the end of 2024, South Africa’s online sports betting market is projected to hit a market volume of $394.80 million (R7.290 billion) according to data from Statista.

Cryptocurrency betting, however, remains a contentious issue. While it offers numerous benefits, including sizable welcome bonuses and enhanced privacy, it is currently prohibited under South African law. 

The legal framework does not specifically address cryptocurrency gambling, leaving it in a grey area. South African punters are restricted from using digital currencies for betting, despite the growing global trend toward crypto adoption.

The broader global context

Globally, the integration of cryptocurrencies into online gaming and betting platforms is more advanced. Many international platforms accept Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies. 

These platforms offer attractive incentives such as large welcome bonuses and fast transaction speeds, further driving the adoption of digital currencies in gaming.

However, the adoption of crypto in gaming is not without its challenges. Fees associated with cryptocurrency transactions, while generally lower than traditional methods, can still be a concern. 

Additionally, the volatility of digital currencies can result in significant financial risk, making it essential for players to manage their investments carefully.

The lack of comprehensive regulatory frameworks in many regions also poses a challenge. In South Africa, the proposed Remote Gambling Bill aims to address some of these issues by potentially legalizing and regulating online gambling for real money. 

However, as of now, this bill has not been enacted, leaving a gap in the regulation of crypto betting.

Conclusion

The impact of cryptocurrency on the gaming industry is evident, with numerous benefits driving its adoption. However, the full potential of crypto’s impact has yet to be realized, particularly in regions like South Africa where legal and regulatory uncertainties persist. 

As global trends continue to evolve, we will likely see more jurisdictions embracing the integration of cryptocurrencies into online gaming.

For now, the intersection of crypto and gaming remains a dynamic and evolving landscape, with significant potential for future development.

The post Has crypto’s impact on gaming been truly realised yet? appeared first on CoinJournal.