Kategorie: Crypto Analysis

Cryptocurrency prices ended the week on a high note as Bitcoin pared back most of their Monday losses. In a remarkable feat, the coin rose from about $49,000 to over $60,000 while Solana and Sui jumped to $153 and $0.9422. 

Poodlana is the new kid on the block

While the focus among investors was on top cryptocurrencies like Bitcoin, Solana, and Ether, many savvy traders were eying Poodlana.

Poodlana is an upcoming meme coin that describes itself as the Hermes of crypto. In the past decade, Hermes has become the most advanced luxury brand, helped by the management’s approach to engineer shortages. It is not uncommon for the company’s Birkin bag to sell for over $100,000. 

Poodlana also aiming to become a better version of meme coins. It is named after Poodle, a highly popular dog in Asia. In some instances, Poodle dogs are more expensive than Shiba Inu and Floki dogs.

These characteristics explain why the Poodlana meme coin is selling like hot cake. Data on its website shows that Poodlana has raised over $6.3 million from investors in less than a month, making it one of the top-selling tokens in the market.

Its performance has been notable because it happened at a time when Bitcoin and most tokens remain in a deep market. Just this week, the crypto fear and greed index moved to the greed zone for a while. In most cases, token sales don’t do well when cryptocurrencies are falling.

Poodlana will start trading on August 16

Poodlana buyers hope that the token will continue doing well after it start trading on August 16th. If this happens, it could mint new millionaires as we saw with other meme coins that moved from nowhere to become multi-million entities. 

Dogecoin has a market cap of over $15 billion while Dogwifhat and Brett are worth $1.79 billion and $963 million. Investors who sacrificed a few thousand dollars are now sitting on millions as thes tokens have outperformed the market. 

Poodlana is unlike most meme coins. Its token sale will end on August 16th and then the crypto will start trading 60 minutes after that. This is unlike other tokens that remain unavailable to traders for months after the token sale ends.

Also, the token’s price is already rising in its presale. It was trading at $0.0499 and the next stage will push it to $0.053. As such, if you invest $100 in it now, you will receive 2,004 POODL tokens. When the price rises to $0.053, the same amount will buy 1,886 tokens, a big difference. 

Other factors could push the Poodlana token higher when it starts trading. The Fed will be the most important of these as it is expected to start cutting interest rates in September because the American economy is slowing. 

As we saw in 2021, meme coins like Shiba Inu and Floki surged as the Federal Reserve slashed interest rates because of the pandemic. You can buy the Poodlana token sale here.

The post Poodlana: time is running out to buy the hottest token of 2024 appeared first on CoinJournal.

Cryptocurrency prices have staged a strong comeback this week as concerns about the Japanese yen comeback faded. After tumbling sharply on Monday, most of them have bounced back by double digits. Bitcoin has jumped from $49,000 to $62,000 while the combined market cap of all coins rose to over $2.1 trillion. 

These coins rebounded as DTX Exchange, an upcoming hybrid platform, continued its token sale, raising over $1.2 million. 

Bitcoin and altcoins have recovered

Bitcoin and most altcoins rallied on Friday as sentiment improved and as the fear and greed index rose from the fear zone to neutral. Sui, the Binance-backed token, was one of the top gainers as it jumped by over 27% in the last 24 hours. 

Helium, the Solana DEX, jumped by 20% while Celestia TIA rose by over 18%. Other top-performing tokens were meme coins like Brett, Pepe, and Jasmy. Ethena, Injective, and Stacks were among the other top gainers.

This rebound happened as investors bought the dip in these cryptocurrencies, which they believe became highly undervalued. Also, it happened as other assets like stocks bounced back. Indeed, some indices like the Dow Jones, S&P 500, and Nasdaq 100 pared most of the Monday losses. 

Technically, these assets crawled back as investors identified a highly bullish hammer pattern on Bitcoin’s daily chart. It also formed a bullish falling wedge chart pattern, which often results in a bullish breakout. 

Additionally, these tokens rose because of the rising hopes that the Federal Reserve will cut interest rates as soon as in July.

DTX Exchange token sale is thriving

Meanwhile, investors are now focusing on a brand-new hybrid exchange that promises better features than the existing platforms like Uniswap, dYdX, and Raydium.

DTX has already raised over $1.2 million, and the tokens are selling fast as investors take advantage of the low price of USDT 0.04. In the next stage, the token’s price will rise to 0.06 USDT. This means that a person who spends $10,000 today would receive 250,000 tokens. The same amount will buy 166,666 tokens when it rises to $0.06. 

The estimated launch price will be $0.12, meaning that the trader who buys the token now, will have assets worth $30,000 on launch day. 

DTX aims to be a better exchange than most crypto platforms for several reasons. First, in addition to crypto, users will be able to trade other assets like forex, stocks, and commodities. As such, one will not need to have several exchanges or brokerages. 

DTX will also solve the liquidity challenge that most exchanges face by using distributed liquidity pools, which aggregate liquidity from different sources, creating a better platform with lower fees. 

Most importantly, DTX users will be assured of their safety by focusing on a non-custodial model. This means that users will maintain their keys and wallets when trading. You can buy the DTX token here.

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• Poodlana is slightly over a week away from its first exchange listing. 
• The bulls keen on buying the dip in major cryptos have an equally large appetite for meme coins.
• XRP has been up by 18.53% over the past 24 hours following the favorable ruling on Wednesday.

 

After cryptos’ Black Monday, bulls have been keen on buying the dip, something that has yielded the observed rebound. It is these same bulls that are looking to lock in gains in the latest viral project, Poodlana. 

Notably, the easing fear, coupled with the ruling by a federal judge on Wednesday, has also seen XRP rise by 18.53% over the past 24 hours. 

Ripple’s favorable ruling

On Wednesday, federal judge Analisa Torres ordered Ripple Labs Inc. to pay a fine of $125 million for violating securities law. This is significantly below the $900 million in civil penalties and $1 billion disgorgement & prejudgment interest sought by SEC. 

The unsuccessful attempt by the commission to appeal the ruling, and the subsequent publishing of the judgment, saw XRP trade in the green for the third day in a row. The bulls are striving to sustain it above $0.60000 after dropping below it a week ago. 

https://x.com/attorneyjeremy1/status/1821281782324719876

The verdict is important for Ripple and other altcoins like Solana and Polkadot. For one, it means that there are higher chances that the SEC will start receiving and ultimately approve more Exchange Traded Funds (ETFs).

Poodlana token listing approaches

Meanwhile, enthusiasts of meme coins are eagerly awaiting the end of Poodlana’s presale and its subsequent listing on Raydium. The outstanding hype surrounding the project positions it to be the biggest Solana listing of 2024, possibly even outperforming Dogecoin. 

Just 10 days after the meme coin launch that went viral across Asia and beyond, it raised over $3 million in its presale. With 8 more days to go, this figure has risen to $5.6 million as of the time of writing. 

This one-of-a-kind traction is founded on several aspects. To begin with, the poodle-inspired project is a combination of two sectors with a major global appeal; cryptocurrency and fashion. Hence the presentation of the meme coin as the “Hermes of Crypto”.

Hype and facts alike,  meme coin investors and the overall crypto community have one question driving their decision; if Poodlana can achieve this in less than 30 days, how much more will it be worth upon hitting the market. 

Interestingly, some tokens have been subject to a lock-up period of several months or even a year. This is quite different from Poodlana whose first exchange listing will be on 16th August at 12:00 PM UTC – just 60 minutes after the end of its presale. 

As such, it’s a brainer – this is the apt time to purchase POODL tokens at a major discount. Its current price as indicated on its website is $0.0458. In about two days, the next stage price will be at $0.0499 and will continue rising every 72 hours to a listing price of $0.060. This means that those who buy at the current price will already have significant gains locked in when it hits the markets.  You can buy the POODL token here.

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• SOL is among the well-recovered assets, but it’s not out of the woods yet.
• 10 days ahead of the end of its presale, POODL has raised over $5 million. 
• Bitcoin seems set for a dead cat bounce.

As the markets stabilize, Solana has emerged as one of the top crypto gainers in Tuesday’s session. Meanwhile, one of the meme coins under the Solana network, Poodlana, has already raised over $5 million – 10 days ahead of its presale end. With its viral traction, it gives a one-of-a-kind opportunity for lovers of meme coins to earn heftily from modest investments. 

SOL not out of the woods yet

Solana, the fifth largest cryptocurrency, extended its gains on Tuesday after the huge bearish wave that swept across markets at the beginning of the week. After dropping to a five-month low at $110.47 on Sunday, it rose back above the $150 mark on Tuesday. 

As at the time of writing, it was trading at $152.12; equating to a 9.15% increase over a span of 24 hours. At the same time, its market cap and volume was at $70.9 billion and $ 5.5 billion respectively. 

The close to 40% gain recorded over the past two days comes amid the heightened discussions regarding SOL ETF(exchange-traded fund). Granted, the natural recovery phenomenon across markets has also contributed to the rally.   

With regards to the  SOL ETF, there is heightened optimism that it will likely be the 3rd spot token availed to investors after BTC and ETH. 

A look at the chart below shows SOL is not out of the woods yet. On the one hand, it formed a bullish hammer candlestick on Sunday. However, it is still trading below the 20 and 50-day EMAs. 

As the markets stabilizes, the region of 140 will likely be a steady support level in the ensuing sessions. However, it will likely face substantial resistance around 159.47. As such, the crypto may remain within the aforementioned range in the short term. Success in breaking that barrier will then have the bulls eyeing the next resistance level of 170.05. 

Poodlana already past the $5 million mark with 10 more days to go

Increased interest in the SOL blockchain has seen meme coins within the network record substantial gains.In the past 24 hours, HahaYes, Ginnan The Cat, and YAWN have risen by 225.4%, 117.9%, and 170.2% respectively. 

There are these meme coins, and then there is Poodlana, the “Hermes of Crypto”. POODL has captured the attention of the fashion-savvy populace and the constantly growing number of crypto enthusiasts. Seeing that the two industries are enormous sectors expected to continue growing, the poodle-themed meme coin might just be the biggest Solana listing yet. 

At the moment, Shiba Inu and Dogecoin and the dominating dogs in the crypto market. However, the love for crypto and the fashion-centric poodle places POODL on the right path for dominance. 

Since launching its presale on 17th July, this largely talked-about coin has raised $5.50 million. So heightened is the hype that in just 10 days after the launch of its presale, it raised over $3 million. The one-month presale is set to end on 16th August. 

As indicated on the project’s website, the current price is $0.0458 and is expected to rise to $0.0499 in its next stage. At the set listing price of $0.060, there is a huge opportunity for investors to make big bucks before and once it goes live on the trading market.

Indeed, the meme coin market has a huge return potential despite the associated risks. Based on its viral traction, a modest investment on POODL can yield immense returns. 

Bitcoin likely in a dead cat bounce situation

BTC dropped below the psychological level of $50,000 on 5th August for the first time since 14th February. While it has since recouped some of those losses, it lacks enough momentum to break the previously steady support zone of $57,500. 

A look at the technicals shows the possibility of a dead cat bounce. With an RSI of 33, it will likely make temporary gains before embarking on a downtrend. 

As the markets stabilize, it may gather enough momentum to push past the $60,000 mark. However, to reverse the current downtrend, it will need to move past the 50-day EMA at $62,880. 

 

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

• UK online casino sector to grow from $6.47B to $7.10B annually by 2029
• UK leads globally in online casino revenue, surpassing the US in 2024
• Cryptocurrency adoption boosts UK online casino growth and user engagement.

The online casino industry in the United Kingdom is set to experience significant growth over the next five years. Currently generating an impressive $6.47 billion annually, market projections indicate that this figure will rise to $7.10 billion a year by 2029. 

This growth underscores the dynamic and evolving nature of the UK’s online gambling sector, which remains a global leader in terms of revenue.

Current online casino market performance

The UK’s online casino market is not only thriving but also outpacing other nations. With a projected revenue of $6.47 billion in 2024, the country has the highest-earning online casino sector globally. 

It surpasses the United States, which, despite its larger population, is expected to generate slightly less revenue at $6.29 billion in the same year. 

The key to this success lies in the UK’s higher user penetration rate of 17.4%, compared to the US’s 9.4%, and a significantly higher average revenue per user (ARPU). UK players spend approximately $0.63k annually, more than double the US ARPU of $380.50.

Factors driving the growth of online casinos in Britain

Several factors contribute to the robust performance and future growth of the British online casino industry. A significant driver is the growing adoption of cryptocurrencies by crypto casino sites. 

A crypto casino site with cryptocurrencies incorporated into the platform’s payment and withdrawals system offers enhanced security, anonymity, and faster transaction times, which appeal to many casino users. This technological adoption is making online gambling more accessible and attractive to a broader audience.

Additionally, the convenience and tax-free nature of online gambling in the UK are compelling factors. The shift towards online platforms, accelerated by the COVID-19 pandemic, has remained strong even as traditional gambling venues reopened. 

The ease of access from home, coupled with a wide array of gaming options, continues to draw more users to online casinos.

Cultural and regulatory influence

The cultural acceptance of gambling in the UK, supported by a long history of betting on events like horse races and the national lottery, also plays a crucial role. 

According to YouGov’s Global Gambling Profiles data, nearly half of UK online gamblers spend more than £5 monthly on fantasy sports and sports bets. The diversity in gambling preferences, spanning slot machines, casino games, and bingo, reflects a deeply ingrained gambling culture.

Regulatory frameworks established by the United Kingdom Gambling Commission (UKGC) have provided a secure environment for online gambling. These regulations ensure fair play, consumer protection, and the integrity of the gambling industry. 

Despite these stringent measures, challenges such as addiction, bankruptcy, and fraud persist. The UK government has introduced measures like levies on individual stakes for online slot machines and increased funding for treatment systems to address these issues. 

Advocacy for further measures, including slower spin speeds and affordability checks, continues.

The rise of non-GamStop casinos

Another emerging trend is the rise of non-GamStop casinos. These platforms operate outside the jurisdiction of the UKGC, providing an alternative for players seeking to bypass the restrictions of GamStop, the UK’s national online self-exclusion scheme. 

While these casinos offer greater flexibility, they also pose significant regulatory and safety risks. Players must exercise caution, ensuring they engage with reputable platforms that prioritize security and fairness.

Future outlook

The future of the UK’s online casino market looks promising. With an expected annual growth rate (CAGR) of 1.88% from 2024 to 2029, the market is projected to reach $7.10 billion by 2029. 

The number of users is also expected to grow, reaching 12.4 million by 2029, with a slight increase in user penetration to 17.9%.

This growth trajectory highlights the UK’s position as a global leader in the online gambling industry. The combination of cultural acceptance, advanced regulatory frameworks, and technological adoption, including cryptocurrencies, positions the UK’s online casino market for continued success. 

As the industry evolves, it will be crucial to balance growth with responsible gambling practices, ensuring a sustainable and secure environment for all players.

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