Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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PEPE surges as Arthur Hayes bets on meme coin

  • PEPE’s price shot up 14% as meme coins rose, with Floki and Shiba Inu among the top gainers
  • The price of Pepe increased as Arthur Hayes withdrew $250,000 in PEPE from Binance
  • Hayes is also touting Mother Iggy (MOTHER) and Mog Coin (MOG)

Pepe’s (PEPE) price spiked more than 14% in 24 hours as the meme coin reacted upwards to a massive bet from Arthur Hayes, the former BitMEX CEO.

The uptick follows recent gains for PEPE alongside dogwifhat and Sei.

At the time of writing, the frog-themed meme coin was trading at $0.00001047, having deleted one zero as prices reached intraday highs of $0.00001071. Pepe’s trading volume rose 34% to over $1.3 billion.

These gains, followed closely behind Bitcoin’s rise to $65k and top altcoins seeking to mirror it, have seen PEPE rank among the top gainers on the day in the top 100 by market cap category.

Pepe price chart on CoinMarketCap showing sharp surge on September 27, 2024

Pepe’s market cap was $4.4 billion, up 14% in 24 hours. In terms of top gainers in the 100 largest coins by market cap, PEPE ranked behind Wormhole (W), whose price had increased by 17% to $0.32.

Floki (FLOKI), another flying meme coin, rose 14% while Shiba Inu (SHIB) also outpaced most altcoins with a 13% upside in the past 24 hours.

PEPE’s price soars amid Arthur Hayes bullish bet

The meme coin market is abuzz, with Solana-based baby hippo meme Moo Deng (MOODENG) outperforming all top 500 coins by market cap. However, many of the other meme coins are also seeing decent gains as traders bet on further upside momentum.

Crypto analyst Rekt Capital pointed to PEPE having broken its downtrend with the latest price rally.

PEPE has attracted the attention of Hayes who’s recently increased his bullish bet on Aethir (ATH), a decentralized cloud infrastructure platform for gaming and artificial intelligence.

As well as adding to his ATH position with another $1.5 million purchase on Friday, Hayes bought $250,000 worth of PEPE. The crypto investor and entrepreneur acquired the meme coins on crypto exchange Binance.

Other than PEPE, Hayes also recently talked about Mother Iggy (MOTHER) and Mog Coin (MOG).

The post PEPE surges as Arthur Hayes bets on meme coin appeared first on CoinJournal.

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Mark Cuban voices interest in becoming the next SEC chair

  • Mark Cuban claims that Gensler is “awful” for crypto and all businesses
  • Cuban highlighted Harris’s promise to advance technologies such as AI and blockchain
  • Lawyer John Deaton said Cuban would be a “breath of fresh air” unlike the “lawlessness of Gary Gensler” as head of the SEC

Billionaire entrepreneur Mark Cuban has said he’d be interested in becoming the chair of the US Securities and Exchange Commission (SEC) if Kamala Harris becomes the next President of the White House.

Speaking on Fox News in an interview with Neil Caputo, the Dallas Mavericks owner was asked whether he’d be interested in positions such as the Treasury Secretary or the Commerce Secretary under a Harris administration.

The crypto friendly billionaire responded by saying:

“Head of the SEC. That’s the job I would take.”

He added that he’d be open to working as the head of the Department of Health and Human Services (HHS), “but somebody needs to replace Gary Gensler” who is the SEC’s chair.

Cuban continued by highlighting Harris’s promise to advance technologies such as artificial intelligence and blockchain. Earlier this week, Harris delivered – what are believed to be her first – crypto-positive remarks at a New York fundraiser.

During her speech, she said under her administration, she would “encourage innovative technologies like AI and digital assets.”

However, when pushed further by Caputo about potentially replacing Gensler, Cuban said “bottom line, he’s awful, particularly for crypto and for businesses in general.”

A blight on technology

Cuban hasn’t been one to shy away from criticizing Gensler and the SEC’s policies and regulatory approach to crypto companies.

Recently, the entrepreneur took to X, commenting on Rep. Richie Torres’s post, where the head of the SEC claimed that NFTs were securities.

In an earlier message on the social media site, Cuban argued that Gensler was “a blight on the technology community.”

For many, Gensler has taken a hard-line approach to crypto companies, often labeling them as securities and taking legal action against those that supposedly violate securities laws. It it this lack of clarity that is putting a damper on the industry’s growth in the US.

Some think that if Cuban were to replace Gensler, he’d be a “breath of fresh air” unlike the “lawlessness of Gary Gensler,” as stated by John Deaton, a lawyer and entrepreneur. To help advance the space with more regulatory clarity, many in the space will be waiting to see who will next be the head of the SEC.

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Hut 8 eyes AI push with launch of GPU-as-a-service program

  • Hut 8 has laaunched its GPU-as-a-service business to tap into the AI growth potential.
  • The Bitcoin miner said it partnered with Hewlett Packard Enterprise and AdvizeX to launch the 1,000 Nvidia H100 GPUs cluster.
  • Hut 8 eyes revenue diversification and long term growth with this AI bet.

Hut 8, an energy infrastructure provider and top Bitcoin miner, has announced that its GPU-as-a-service vertical is live.

The GPU cluster, according to a Hut 8 announcement on Sept. 26, consists of several HPE supercomputers, all powered by 1,000 Nvidia H100 GPUs. The launch follows a partnership between Hewlett Packard Enterprise and information technology firm AdvizeX.

Hut 8 eyeing AI push

Per the press release, Hut 8 subsidiary Highrise AI will host the GPU-as-a-service business, with a 5-year deal in place for revenue sharing and infrastructure payments.

The arrangement sees Hut 8 diversify its operations further, and now includes a compute layer that spans artificial intelligence, Bitcoin mining and cloud services.

“Consistent with our commitment to disciplined capital allocation, we believe a thoughtfully structured AI compute business will be accretive both financially and strategically and drive topline growth, revenue diversification, and long-term value creation, “Hut 8 chief executive officer Asher Genoot said.

A new next-gen mining chip

Hut 8’s launch of the new business vertical comes a few days after the miner announced the launch of U3S21EXPH, a new ASIC miner with direct liquid-to-chip (DLC) cooling.

The miner partnered with leading crypto mining chip maker BITMAIN to develop this new ASIC mining chip. Hut 8 plans to deploy the new model in the second quarter of 2025 via an approximately 15 exahashes per second hosting deployment.

Initial deployment of the 15 EH/s will push Hut 8’s hashrate by about 81%, while the miner expects a possible 20 EH/s of self-mining.

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US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

  • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under current regulations.
  • SEC plans new regulations for DeFi and trading systems to protect investors.
  • Crypto firms, including Coinbase, push back against expanding regulatory scope.

In recent statements, SEC Chairman Gary Gensler has firmly reiterated that Bitcoin is classified as a non-security under existing SEC regulations. His comments came during an interview on CNBC’s “Squawk Box.”

Gensler emphasized the importance of regulatory clarity, insisting that while many firms have benefitted from the public’s growing interest in cryptocurrencies, they often resist the regulations designed to ensure market integrity.

In the interview, Gensler noted that the SEC’s role is to foster trust in the market, stating, “Innovations do not develop in the long term unless they also build trust.” He referenced the significant losses and bankruptcies that have occurred in the crypto space, underscoring the necessity of having regulations in place to protect investors.

Despite Gensler’s reaffirmation regarding Bitcoin, he acknowledged the discontent among crypto firms concerning regulatory frameworks. He highlighted that many industry stakeholders argue against the existence of such regulations, which he attributes to their discomfort with the enforcement actions taken by the SEC.

Notably, Gensler’s remarks follow the recent eToro settlement, which confirmed that Bitcoin (BTC), along with Bitcoin Cash (BCH) and Ethereum (ETH), are not considered securities.

SEC’s trading systems proposal

Earlier Gary Gensler while testifying before the US House Financial Services Committee discussed the SEC’s proposal to mandate alternative trading systems to choose whether to register as national securities exchanges or to register as broker-dealers and comply with additional requirements under proposed Regulation ATS depending on their activities and trading volume. This proposal aims to close regulatory gaps among trading platforms, ensuring compliance with rules intended to prevent unfair trading practices.

However, the proposed regulations have met significant push-back from digital-asset firms, including Coinbase, which argue that the definition of an exchange could inadvertently include DeFi platforms, complicating their compliance.

As the SEC continues to navigate the complex landscape of cryptocurrency regulation, Gensler reiterated the agency’s commitment to fostering a transparent market.

With no timeline set for final decisions on the trading systems proposal, the SEC remains open to considering applications from exchanges seeking to offer central clearing for the US Treasury market, which is projected to expand significantly under new rules.

The post US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules appeared first on CoinJournal.

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Cryptocurrency: Top 2 Coins to Buy Today if You Missed Out on Shiba Inu (SHIB) and Dogecoin (DOGE)

Those who missed out on Shiba Inu and Dogecoin coins when there was a quick surge may have felt as though the likelihood of such riches in the market has come and gone. However, do not fret because the market never disappoints and it is always open for business. Two projects (Rexas Finance (RXS), and Toncoin (TON)) in the crypto market are emerging as the ones to watch and make the most of the next big surge. Let’s see how these two coins might be the ones to keep your eyes on and purchase today.

Rexas Finance (RXS): An Innovative Approach to Tokenize Real-Life Assets

Rexas Finance (RXS) is consistently ranked among the top projects in the decentralized finance (DeFi) and tokenization spaces. Rexas was established on the principle of the Real-world Asset (RWA) token and sought to transform the sectors of the economy involved in finance and blockchain into one seamless system. This platform will enable the easy and fast conversion of physical assets such as real estate, works of art, and commodities, as well as intellectual property rights into digital assets.At present, Rexas Finance is in the third stage of presale where tokens are offered at $0.05 per token, this being stage 3 after successfully raising $1.25 million in stage 2 presale. The presale has gained more publicity on account of its previous sales. Those who bought into Stage 1 at $0.03 have already made a return of 66% and that price is set to increase further as the project picks up.

Why Invest in Rexas Finance?

Real World Asset Tokenization: Rexas Finance is allowing new market opportunities for the physical and nonphysical assets being tokenized. With fractional ownership at the most minimal level, many investors may invest in areas that have been considered difficult to invest in such as real estate or art as the assets can be represented by blockchain-based digital coins.

Decentralized and Transparent: The application of blockchain enhances security and transparency levels that conventional financial institutions could hardly encore. A Stating Smart contract creates a situation where a transaction is carried out only in the manner that it was envisioned which lowers the fraud risks associated with it and makes asset movement simpler.

Broad Use Cases: Rexas Finance is multi-purpose in this regard. It caters to fundraising for new projects, community-governed tokens, event organization, and management in addition to partial ownership to mention but a few of its applications. This ability to be multi-functional helps it distinguish itself from most single-use tokens.Rexas’ presale shows signs of strengthening the cornerstone of the project. Intercontinental Exchange now thinks it will launch at $ 0.20. Meaning, those who buy into this early stage may watch their investments grow by 500x making this attractive for anyone looking to ride the next wave.

Toncoin (TON): Future blockchain model

Toncoin (TON) is another token that’s steadily establishing itself in the global cryptocurrency market with new functionalities coming into play thanks to the concept of scalability. For the reader’s orientation, Toncoin is a native currency supporting The Open Network (TON), a blockchain seeking to provide high-speed transactions, decentralized apps, and other services.TON is a reasonable blockchain network since it does not have a high proneness to solve problems of network cost and scalability that are typical of many blockchains today, most especially Ethereum. Due to its design that incorporates multi-layer consensus, the network can support several million transactions per second (TPS), thus ranking as one of the most effective and fastest-accessed blockchain-based platforms.

Why Invest in Toncoin?

Telegram Support: Although Telegram was unable to pursue the project due to regulatory constraints, Toncoin bears the trademark and has managed to obtain popularity inside the Telegram community and even more. It even has a base on social networking since it has a messaging app installed compulsorily to help its members which are 500 million in number.

Scalability and Speed: This is why it is a multi-paper scalable blockchain platform emerging as a promise for dApps, payments, and DeFi projects. It is great against giants such as Ethereum because of the faster transaction Ls and low fees.

DeFi and NFTs: Not only is TON looking at scalability, but it is also intending to play an active role in the DeFi and NFT ecosystems. Toncoin is emerging as a threat to ETH, Solana, and other major players with quick transactions and less expensive gas fees.

Although, Toncoin has been gaining equal steam with regards to the likes of Bitcoin Cash that say they can lower transaction speed and cost, which is a beefy sell point for people who want to keep an investment without utilizing it for the distractive purposes of a repository.

Conclusion

If you regret missing out on Shiba Inu and Dogecoin then don’t stress—you still have another opportunity to grab the next turning point in the cryptocurrency space. 

Rexas Finance (RXS) and Toncoin (TON) are two projects that are set to grow tremendously on the launch day. Rexas is at the presale 3 stage at $0.05 with a great likelihood of surging once it’s launched owing to its unique platform that helps in tokenizing real-world assets. On the other hand, Toncoin is aiming to become one of the leaders in the DeFi and blockchain industry with its highly extensible network.

These two projects are in the very early stages so you have an opportunity to get in them at the beginning and be among the beneficiaries when the projects mature. As always, be prudent and conduct research and analysis of risks, but Rexas Finance and Toncoin are good options for those who want to enter the world of cryptocurrency.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post Cryptocurrency: Top 2 Coins to Buy Today if You Missed Out on Shiba Inu (SHIB) and Dogecoin (DOGE) appeared first on CoinJournal.