Kategorie: Crypto Markets

• Binance says new guidance on stablecoins has made it untenable to continue operating in the country.
• New rules required exchanges to seek approval before allowing their customers to buy or deposit stablecoins.
• The exchange says it will continue to engage regulators even if it doesn’t agree with new guidance.

Binance, the world’s largest crypto exchange by trading volume, has announced its exit from Canada.

The crypto platform revealed its move on Friday, noting that the decision was down to new guidelines that make the Canadian market “no longer tenable” for its operations.

“We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” the exchange said in a tweeted statement.

The crypto exchange giant said it had “put off this decision as long as [it] could to explore other reasonable avenues to protect [its] Canadian users.” However, it’s joining other platforms to withdraw from the market after the latest regulatory move.

“While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework,” Binance wrote.

The question of regulatory clarity

Binance is a major crypto industry player that has sought regulatory approval in most of the jurisdictions that it offers its services. It has also been one of the main advocates of more regulatory clarity across the globe. 

But its decision to exit Canada comes a few months after the Canadian Securities Administrators (CSA) outlined new guidance regarding stablecoins.

The February communication had asked crypto trading platforms operating in the country to seek approval before allowing customers to use stablecoins on their platforms. This included buying or depositing stablecoins, a requirement that meant further due diligence checks for exchanges amid the tightening regulatory scrutiny.

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• Digitoads is currently in the presale stage.
• PEPE has been the talk of the town over the last couple of after it got listed by Binance.
• 2023 has seen newly launched meme coins register staggering price movements.

Many analysts are calling 2023 the year of meme coins. The market has seen new meme coins surpass popular meme tokens like Shiba Inu (SHIB) and Pepe (PEPE) in popularity and soaring to meteoric heights.

One of the new trending meme coins is DigiToads (TOADS), an Ethereum-based meme token that was launched earlier this year. The meme coin has garnered a lot of praise for its unique economic design where users can access multiple options to bring home passive income. Its community-centric approach paves the way for community members to play a key role in the platform’s growth and development.

DigiToads: A trendsetter in the meme coin sector

DigiToads has been developed by using a hybrid model that leverages the strength of different cryptocurrencies. So, with one single platform, you can stake NFTs, play Web 3.0 games, enter giveaways, bag prizes, crypto tokens as rewards, trade cryptocurrencies and participate in trading competitions. 

The platform has developed a native token called TOADS which would facilitate all transactions and financial purposes on the network. Built on the ERC-20 protocol, the DigiToads team would maintain a store of 585 million TOADS tokens. Of the supply, around 69.2% of it would be set aside for presale and giving out rewards. 

Another reason why DigiToads has been in the news is because of its presale process. Comprising 10 stages, DigiToads’ presale process has been a stellar success till now and its fifth stage ‘Lillypad 5’ is currently in progress. 

DigiToads balances gameplay, rewards, and the storyline to create an exciting Web 3.0 game that will have players hooked to it in minutes. 

In the game, players will be facing each other in a Metaverse swamp and will try to bag the highest scores in the season. To defeat the enemy, players can seek help from digital creatures called ‘DigiToad’ who have special abilities. Players can also secure training equipment, food, and potions for DigiToads. They will have to pay for both the items as well as the DigiToad using the TOADS tokens. Those interested can participate in the DigiToads presale here.

Here’s why analysts are bullish on Shiba Inu

Shiba Inu is among the top cryptocurrencies that have managed to maintain their hold over the market despite being launched years back. The meme coin has rolled out a native token called SHIB which is the main crypto token on the network. It is based on memes inspired by a Japanese breed of dog. 

Apart from SHIB, the Shiba Inu team has also launched two other cryptocurrencies – BONE and LEASH. While BONE is a governance token that helps Shiba Inu community members to participate in the decision-making process, LEASH is an exclusive token for dedicated community members who have been associated with the platform. 

Given its popularity, analysts feel that the SHIB token might soar higher in 2023 and they expect it to stay in the bullish zone for now.

PEPE is likely to make further gains

PEPE is inspired by the popular internet cartoon ‘Pepe, the Frog’ and its native token is PEPE. It is the medium of exchange on the network and has a deflationary model, which means its supply is intentionally kept low to curb fluctuating prices. 

Another key advantage associated with Pepe is that token holders don’t have to pay any transaction fee. The ‘no tax’ policy has helped it ramp up its reach. As per market trends, the meme coin has witnessed a lot of ups and downs over the past few weeks. 

Analysts expect the PEPE token to register another bullish rally as a sizable number of whales are still sitting in big positions.

Conclusion 

Going by the fact that meme coins like Shiba Inu and PEPE have demonstrated their ability to drive gains in the market, analysts believe DigiToads will also perform well over the long term. 

DigiToads’ dynamic economic framework and multiple utilities can help a community member diversify a portfolio while building a sustained source of passive income.

The post DigiToads utility sets itself apart from Shiba Inu and Pepe as meme coins demand grows appeared first on CoinJournal.

• Texas lawmakers vote to add digital currency to the state’s Bill of Rights.
• The move grants citizens the right to possess, retain and utilize digital currencies.
• The bill HJR 146 to amend the Bill of Rights was introduced by State Representative Giovani Capriglione.

Texas legislators have voted to amend the state’s Bill of Rights to add digital currency to allow individuals to possess, retain and utilize digital currencies like Bitcoin (BTC).

The lawmakers voted in favour of the amendment by a large margin, possibly hinting at the general feeling among the lawmakers about digital currencies. 139 lawmakers voted in favour with only two voting against.

Bill HJR 146

The amendment was contained in a bill titled Bill HJR 146, which was introduced by State Representative Giovani Capriglione. According to the bill, individuals have the right to use a mutually agreed upon medium of exchange that includes digital currencies, coins, cash, scrip, or bullion, for contracting goods and services and trading.

The bill contains a stamen that reads:

“No government shall prohibit or hinder the ownership or holding of any form or quantity of money or other currency.”

Texas Bill of Rights

The Texas Bill of Rights protects essential rights like freedom of speech, religion and press similar to the US Bill of Rights.

However, the Texas Bill of Rights also includes specific clauses pertaining to Texas, such as the right to a prompt trial and the right to possess and carry weapons for self-defence.

Commenting on the development, the Texas Constitutional Enforcement group said that the inclusion of digital currencies in the Texas Bill of Rights is crucial in safeguarding Texans’ financial privacy.

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Key takeaways

• Metacade reached an all-time high of $0.045 earlier this month but is now down by nearly 50% from that point.

• The broader crypto market is undergoing a correction, and this could present a good buying opportunity for investors.

• MCADE will be listing on more crypto exchanges before the end of the year. 

Metacade’s price has done well since going public last month. It surged to a high of $0.045 earlier this month after it was listed on the BitMart, Uniswap, and MEXC cryptocurrency exchanges.

However, it has lost nearly 40% of its value since then as the broader cryptocurrency market began its bearish move. With the MCADE price now low and the broader crypto market currently underperforming, is this a good opportunity for investors to invest in the project? 

Does Metacade offer a great investment opportunity?

One of the best times to invest in financial assets is during a market correction. By investing during a bear market or a correction, investors set themselves up nicely to make excellent returns.

The broader cryptocurrency market has been underperforming since the start of the month. Bitcoin has lost more than 10% of its value over the past seven days and is struggling to maintain its price above $26k.

The poor performance of Bitcoin and other major cryptocurrencies has affected the prices of other cryptocurrencies, including Metacade.

MCADE rose to an all-time high of $0.045 earlier this month after it was listed on the MEXC cryptocurrency exchange. However, since then, MCADE has lost nearly 50% of its value as the market undergoes a correction.

At press time, the price of MCADE stands at $0.02225. The decline in the prices of cryptocurrencies, including Metacade, could serve as an excellent opportunity for investors to enter the market.

Those who didn’t invest in Metacade during its pre-sale could take up this opportunity, as the token is now trading close to its presale price. Furthermore, existing investors could take advantage of the current market conditions to purchase more MCADE tokens.

What is Metacade?

To determine if Metacade could be a good project to buy, investors need to know what Metacade is about.

Metacade is a web3 project that is powered by the Ethereum blockchain. The project seeks to improve the existing play-to-earn (P2E) ecosystem by making it possible for users to enjoy new web3 experiences. 

The Metacade development team is working to have a project that empowers users to play, connect, build, and earn seamlessly. The project also plans to transition into a decentralised autonomous organisation (DAO) by 2024, granting token holders control over the ecosystem. 

After raising $16 million in its presale stage, the Metacade development team is already working to launch some of its products. 

Since it went public last month, MCADE, the native token of the ecosystem, has already been listed on the Uniswap, BitMart, and MEXC crypto exchanges. This means that the MCADE token is available to millions of investors globally.

The team also plans to list the token on several other leading cryptocurrency exchanges before the end of the year. 

Will Metacade reach $0.1 by the end of 2023?

MCADE reached its all-time high price of $0.045 earlier this month. However, it has dipped by roughly 50% since then as the broader crypto market is undergoing a correction.

The events of the past few weeks have shown that MCADE’s performance is affected by the fundamentals of the broader cryptocurrency market. 

For MCADE to reach $0.1 by the end of the year, the development team will need to roll out some of their products.

In addition to that, the fundamentals of the broader cryptocurrency market will have to be bullish, as that could allow MCADE to rally to the $0.1 psychological level by the end of the year.

Finally, the Metacade team might also need to make MCADE available on other leading cryptocurrency exchanges. By listing MCADE on other top crypto exchanges, the token could be available to more people, and this could push its price higher in the medium term. 

Is Metacade worth buying now?

As an investor, one of the best times to invest in assets is when they are undergoing a correction. The broader crypto market is undergoing a correction at the moment, and this could be a good time to load on your investment.

After rallying to the $0.045 all-time high, MCADE is now trading close to the presale price of $0.02, and this could present an excellent buying opportunity for investors. 

MCADE will launch on more cryptocurrency exchanges before the end of the year, making it available to millions of investors globally.

Furthermore, the launch of Metacade products over the next few months could increase the platform’s utility and, ultimately, the value of the MCADE token. 

The post Metacade drops to $0.02225: Is this the right time to buy more MCADE tokens? appeared first on CoinJournal.

• Microsoft incorporated GPT-4 into its Bing search engine earlier this year.
• Google has announced it is rolling out generative AI to its core search engine.
• AltSignals is developing an AI-based algorithm for generating trading signals.

AltSignals AI-based trading signals algorithm seems to come at the right time as big tech companies flock to artificial intelligence technology. Earlier this year, Microsoft incorporated OpenAI’s GPT-4 into its Bing search engine shortly after investing heavily in the OpenAI Company.

The GPT-4 is a product of the same company that launched the now very popular ChatGPT. It is a large multimodal model that can imitate prose, audio, video, or art produced by a human and it can solve written problems or generate original text or images. It is basically the fourth generation of OpenAI’s foundation model.

Google to incorporate AI in its Search engine

Following in the footsteps of its main competitor, Google yesterday announced that it is rolling out generative artificial intelligence (AI) to its core search engine.

Google search engine is one of the most popular search engines around the globe and the incorporation of AI is expected to revolutionize the search engine experience. Google’s parent company Alphabet said, “Search Generative Experience – which will be part of Google – will craft responses to open-ended queries.”

However, the system is currently in the experimental phase and will first only be available to a limited number of users.

AltSignals’ AI project

AltSignals has become popular for providing quality trading signals since its launch in 2017. The platform provides signals to over 50,000 Telegram members and its trading signal service has earned a 4.8 out of 5-star rating on Trustpilot.

The AI project is aimed at upgrading the platform’s signal-generating service after its early success. The AltSignals team wants to integrate artificial intelligence, natural language processing, machine learning, and advanced sentiment analysis in signal generation.

The new AltSignals’ AI-powered trading platform, dubbed ActualizeAI, will be powered by a native cryptocurrency called ASI, which will be the unit of membership in ActualizeAI, with holders being able to vote on the governance of the platform.

At the moment, AltSignals is conducting a presale of the ASI token. The presale is in its second stage, which at press time was 67.67% sold out. Interested crypto investors can participate in the presale here.

What the AI hype means for the ASI Cryptocurrency

Going by the success that ChatGPT has had since its launch towards the end of 2022, AltSignals’ ActualizeAI project is poised for a similar uptake and the quick sell-out of the first AltSignals’ presale stage, the BETA stage, is already a testament that investors have confidence in the ActualizeAI project.

Besides, AI technology is only in its initial stages seeing that big tech companies are currently working on workable solutions, with most of the AI products being in their testing stages including the recently announced incorporation of AI into the Google Search Engine.

This means that the end of the current ASI presale could well coincide with a matured AI market, which could spur its popularity higher notwithstanding that the AltSignals already have a sizeable number of customers that use its services even without the existence of native cryptocurrency.

Besides offering holders a membership opportunity to the new ActualizeAI, the ASI token will also offer AltSignals users an opportunity to make additional revenue from trading the token once it is listed on centralized cryptocurrency exchanges.

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