Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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TRUMP meme coin’s 580% surge stirs market: Is iDEGEN the next gem?

Official Trump (TRUMP), the meme coin of U.S president-elect Donald Trump has stormed the crypto market with a surge to the $6 billion market cap.

Is the meme coin’s spike ahead of Trump’s inauguration a signal for what comes next for Solana and iDEGEN? Latest market reaction for SOL and iDEGEN’s AI agent token IDGN suggests this could be a great buy opportunity.

$TRUMP launches meme coin

US President-elect Donald Trump announced the launch of the Official Trump (TRUMP) token on Friday, Jan 17. Within 24 hours of the unveiling, the meme coin jumped 580% in price movement and hit nearly $6 billion in market cap.

Notably, $TRUMP is a meme coin inspired by the president’s election victory and memorable “Fight, Fight, Fight” call in July 2024 following an assassination attempt. However, investors eyeing opportunities see it as an indicator of the potential wild ride crypto is about to embark on post Trump inauguration.

TRUMP, SOL rally

With Trump’s inauguration on Jan. 20 seen as the start of an exciting era for crypto, many analysts say digital assets could be poised for a major rally in 2025 and beyond.

Official Trump’s website features a disclaimer that the meme coin $TRUMP is “not an investment opportunity nor a security of any type.” But the market has eyes on the potential, which explains the $8.5 billion 24-hour volume.

The $TRUMP token’s rally to an all-time high of $33.87 on Jan. 18 pushed it into the top 30 coins by market cap. Meanwhile, the price of Solana recovered above $250, rising by more than 17% as Bitcoin, Ethereum and XRP pared gains.

SOL traded to highs of $262 at the time of writing, just shy of the all-time high above $263 reached in November. Analysts say SOL price could go parabolic.

Is iDEGEN the next crypto gem?

iDEGEN is an AI agent that’s taken X by storm. With the token IDGN set for exchange debut on February 27, the ongoing presale and countdown offer a chance for enthusiasts to position.

What’s interesting about iDEGEN is its overhaul of the market with a degen raised AI agent. The project has no guardrails and tweets every hour, learning from the degen community as it evolves. It’s a model that has landed the agent into trouble on X, with its unfiltered posts flagged for “violent speech.”

But despite this, the iDEGEN presale has raced to over $17 million raised and over 1.4 billion IDGN sold.

The iDEGEN project recently switched to a stage-based presale model, which means price increases after each stage. Currently, that price is at  $0.011 and will increase to $0.0121 in the next stage and $0.038 in the final presale stage. That means a potential 300% rise before the end of the presale and token launch on exchanges.

Could iDEGEN outpace competing AI agent tokens and outpace TRUMP, SOL in coming months?

Learn more about the project or how to buy here.

The post TRUMP meme coin’s 580% surge stirs market: Is iDEGEN the next gem? appeared first on CoinJournal.

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Crypto.com receives in-principle MiCA licence

  • Crypto.com says the MiCA licence allows the exchange to passport its services across the European Union.
  • The firm joins other crypto companies in securing regulatory approval in the EU, including Circle, Borse Stuttgart Digital, MoonPay and Coinbase.

Crypto.com is set to expand its services and products in the European Union after obtaining the crucial Markets in Crypto Assets (MiCA) approval.

The exchange announced the key regulatory milestone via a news release on Jan. 17.

Crypto.com eyes EU expansion

Having now secured an in-principle license from MiCA in the EU, Crypto.com is now edging closer to full regulatory approval becoming one of the first crypto service providers to achieve this milestone.

The license allows companies to operate across the European trading bloc consisting of 27 nations. Upon approval, Crypto.com will be able to offer a wide range of crypto services through out the jurisdiction.

European Union under a leadership framework which enhances accountancy and transparency in the industry. Commenting the news, President and chief operating officer of Crypto.com Eric Anziani, said:

“We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency, and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the growing confidence in the crypto sector. “

Companies have been pushing towards attaining a crypto asset service provider license under MiCA since 2023 crypto legislation was passed.

Crypto.com joins several other platforms in securing MiCA licences.

These include Boerse Stuttgart Digital, MoonPay, Circle and Coinbase, some of the crypto companies to successfully secure MiCA approval ahead of the regulatory rollout of MiCA in the EU.  Notably, the comprehensive crypto rules came into full effect on December 30, 2024.

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Online gambling market to hit $161B in 5 years, new data reveals

  • Online gambling is projected to hit $161B by 2030.
  • The growth is expected to be driven by tech, the easing of regulations, and the increasing crypto use in the space.
  • The market must however overcome challenges like cyber threats and addiction risks.

In a groundbreaking revelation from the latest gambling market analysis by Research and Markets, the online gambling sector is on track for significant expansion, with projections indicating a valuation of USD 161.32 billion by 2030. 

This growth trajectory, marked by a compound annual growth rate (CAGR) of 10.57%, underscores the digital transformation sweeping through the gambling industry, fueled by technological advancements and shifting regulatory landscapes.

Factors driving the online gambling market growth

At the moment the online gambling market is thriving as a result of several converging factors. Foremost among these is the relentless rise in smartphone adoption and global internet penetration. 

With more people gaining access to high-speed internet and mobile devices, the ease of accessing gambling platforms has never been greater. This has democratized gambling, bringing it to the fingertips of millions who previously might not have engaged with traditional gambling establishments.

Another pivotal driver behind this market boom is the gradual liberalization of online gambling regulations. 

Governments in numerous countries are recognizing the revenue potential of legalizing and regulating online gambling, thereby reducing the stigma and legal barriers that once hindered its growth. This regulatory thaw has not only legitimized the industry but also opened up new markets, particularly in regions previously restricted by stringent gambling laws.

The integration of cutting-edge technologies has also played a crucial role. Virtual Reality (VR) is beginning to offer players immersive casino experiences from the comfort of their homes, while the adoption of cryptocurrencies has revolutionized payment methods in the sector. 

The rise of online crypto casino platforms, where players enjoy the anonymity, security, and speed that digital currencies provide. This technological leap has not only attracted a tech-savvy demographic but also those interested in the novelty and efficiency of crypto transactions.

Looking forward, the report highlights significant opportunities in emerging markets, particularly in Asia and Latin America, where internet usage is skyrocketing. Here, the growth potential is vast, as these regions catch up with digital trends. 

Moreover, ongoing advancements in AI and blockchain technology are poised to further personalize user experiences and ensure transaction transparency and security, respectively.

For businesses in the sector, the path forward involves not just keeping up with but anticipating technological trends. 

There’s a strong recommendation for enhancing data privacy measures to build trust among users, alongside innovative marketing strategies that leverage social media to tap into younger demographics. The ability to adapt to regulatory changes and cultural nuances will also be key to maintaining and expanding market share.

The challenges that could impact growth

While this projected growth is impressive, Research and Markets did identify some potential challenges. 

Cybersecurity remains a paramount concern, with online gambling platforms being prime targets for cybercriminals looking to exploit vulnerabilities for financial gain or to disrupt services. 

However, the growing adoption of cryptocurrency payments by online gambling sites will play an important role in reducing those security risks, since advanced cryptography is a central component of all blockchain-based cryptocurrency solutions. 

The post Online gambling market to hit $161B in 5 years, new data reveals appeared first on CoinJournal.

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US Treasury secretary nominee sees “no reason” for CBDC

  • Scott Bessent believes a CBDC is only for countries that have no other investment alternatives
  • He adds that many countries are only issuing CBDCs “out of necessity”

Scott Bessent, President-elect Donald Trump’s pick for US Treasury Secretary, has said he sees “no reason” for the US to have a central bank digital currency (CBDC).

Bessent was speaking during his nomination hearing in front of the Senate Finance Committee on January 16. The hedge fund manager was responding to questions from Republican Senator Marsha Blackburn about how he would approach discussions regarding a US CBDC.

Answering, Bessent said: “I see no reason for the US to have a central bank digital currency. In my mind, a central bank digital currency is for countries that have no other investment alternatives,” adding that “many of these countries are doing it out of necessity, whereas the US, if you hold US dollars, you can hold a variety of very secure assets.”

Exploring CBDCs

Many countries are already exploring the potential of CBDCs. For instance, in 2022, Brazil’s central bank announced it was launching its CBDC, Drex at the end of 2024.

In August 2023, Russia rolled out the first CBDC pilot, involving 13 banks. A report, at the time, noted that the country’s CBDC would begin to be operational in 2025.

To date, only three countries have launched CBDCs: the Bahamas, Jamaica, and Nigeria.

The US, however, has been hesitant to issue its digital currency. Yet, even though research has gone into the viability of one in the US, Jerome Powell, chair of the US Federal Reserve, stated in 2021 that the department wasn’t planning on launching a CBDC anytime soon.

Powell added that it would be “years rather than months” for the US to develop a digital currency and that they would look at it “very, very carefully.”

Despite this, President Biden signed an executive order, in 2022, actively calling for policies on Bitcoin and other cryptocurrencies, and urgent action in researching and developing a CBDC in the US.

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Switzerland’s PostFinance AG bank introduces Ethereum staking

  • PostFinance AG launches Ethereum staking, expanding its crypto service offerings.
  • The move aligns with rising global crypto adoption and Switzerland’s crypto-friendly stance.
  • The US political shift under Trump is expected to boost crypto market stability and growth.

In a pioneering move that underscores the growing integration of cryptocurrencies into traditional banking, Switzerland’s state-owned PostFinance AG has launched Ethereum staking services.

This move comes at a time when the global financial landscape is witnessing a significant embrace of digital assets, particularly with expectations of a transformative year for cryptocurrencies in 2025.

PostFinance AG’s forays into crypto

PostFinance AG, already known for its progressive steps in the crypto sector, has taken its commitment a step further by allowing its clients to stake Ethereum, thereby participating in the validation of transactions on the Ethereum blockchain and earning additional tokens.

The Ethereum staking initiative reflects the bank’s strategy to expand its cryptocurrency services, building on its introduction of crypto trading and custody services in the previous year.

By offering staking, PostFinance is not only catering to the growing demand from investors looking for passive income through digital assets but is also setting a precedent for how traditional banking can coexist with the decentralized ethos of blockchain technology.

Leveraging the political shift in the US

This move by PostFinance is particularly timely. With the recent political shifts in the United States, where President-elect Donald Trump is set to begin his second nonconsecutive term, there’s a palpable optimism around regulatory changes that could further legitimize and stabilize the crypto market.

Trump, heralded as the first truly pro-crypto president, is expected to influence a more favourable environment for digital currencies, both domestically and internationally.

Moreover, the enthusiasm for cryptocurrencies within Switzerland itself seems to be on an upward trajectory. This is evidenced by recent proposals suggesting that the Swiss National Bank should consider purchasing and holding Bitcoin as part of its strategic reserves.

Such a policy, if implemented, would mark another significant milestone in the acceptance of cryptocurrencies by state institutions, potentially catalyzing further adoption across Europe.

The introduction of staking by PostFinance AG is also a clear indicator of the bank’s vision for the future of finance. By integrating blockchain technology into its operations, PostFinance is not only providing its customers with new investment opportunities but is also preparing for a future where digital assets might play a more central role in the global economy.

The bank’s announcement also hinted at plans to introduce staking for other tokens soon, suggesting a broader strategy to solidify its position in the crypto space.

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