Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Beware of fake FLOKI tokens on Solana and Base, Floki Inu warns

  • Floki Inu team warns about “fake” claims that FLOKI tokens are on Solana and Base chains.
  • According to the meme coin project, the native token is olnly tradable on ETH and BNB Chain.

The lates Floki news relates to a warning the meme coin’s team issued this weekend.

Specifically, the crypto community should be careful as there are scams claiming the FLOKI tokens are on Solana and Base, Floki Inu wrote in a social media post.

In a post on the official Floki Inu X account, the meme coin notified its users and the broader crypto community to be wary of such as they are “false and attempts to deceive.”

“It has come to our attention that there are scams claiming Floki has a token on Base or Solana,” the Floki Inu team posted. “Please note: $FLOKI is ONLY tradeable on the $BNB and $ETH chains,” they added.

The project shared the correct contract addresses on Ethereum and BNB Chain, with the ETH as 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e and the BNB address as 0xfb5b838b6cfeedc2873ab27866079ac55363d37e.

Users should be keen not to fall victim of these schemes, and “always verify information from official sources.”

Floki Inu’s warning comes as the crypto market witnesses an explosion in meme coins on Solana and Base. Also happening is a proliferation of scams targeting unsuspecting cryptocurrency enthusiasts and traders, one of which is malicious links to fake tokens.

Floki’s key roadmap

The project launched its ambitious crypto roadmap in March this year.

The highlight milestones include a trading bot, FLOKI-powered bank accounts, domain name, Floki staking as a service and the Valhalla mainnet.

Floki has already achieved some of these milestones among other strategic marketing initiatives. 

Meanwhile, the FLOKI price reached a new all-time high in early June before nosediving as the meme coin market cooled its rally.

FLOKI is currently the fifth-largest meme coin by market cap with $1.6 billion, behind dogwifhat, Pepe, Shiba Inu and Dogecoin.

The post Beware of fake FLOKI tokens on Solana and Base, Floki Inu warns appeared first on CoinJournal.

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Dogecoin, Shiba Inu volume slumps as Solciety token sale thrives

Meme coins have done well in the past few months, with most of them outperforming the likes of Bitcoin, Ethereum, and Solana. Tokens like Floki Inu, Dogwifhat, and Pepe have all jumped by more than 300% this year while most big coins have jumped by less than 100%. 

Dogecoin and Shiba Inu lose momentum

There are signs that most traders are focusing on newer meme coins as the biggest ones lose momentum. 

A good example is looking at the performance of pioneer tokens like Dogecoin and Shiba Inu. The two tokens have jumped by over 20% and 30%, respectively while most newer tokens like Dogwifhat and Pepe have more than doubled.

The other way to look at this is their daily trading volume. Data by CoinMarketCap shows that the volume of Dogecoin in the past 24 hours stood at over $288 million while Shiba Inu stood at more than $115 million. These are small numbers considering that these tokens have a market cap of over $17 billion and $9.9 billion.

In contrast, Pepe’s volume in the past 24 hours stood at over $356 million while Dogwifhat had $326 million. The two’s market cap stands at over $4.5 billion and $1.9 billion, respectively. 

Other smaller tokens like Floki, Bonk, and Mog Coin are also seeing higher volume than Dogecoin and Shiba Inu. 

Solciety is doing well

This performance is happening at a time when Solciety’s token sale is doing well. Recent data shows that the Solciety network has raised over $556k in less than a month, meaning that investors are bullish about the network.

Solciety is an upcoming token that hopes to become a leading player in the meme coin industry. Specifically, the developers hope that it will become the leading political meme coin because of its neutrality. 

That is unlike other politically biased tokens like TRUMP and JEO Boden that are biased. Instead, its standout feature, the meme coin generator allows users to create their own memes, share them on social, and then be rewarded. 

The developers are hoping that funds raised in the presale will help them build the biggest meme coin platform in the industry. As part of its tokenomics, Solciety will have 10 billion tokens, 30% of which will be through its token sale and 20% will be used in marketing. The rest of the funds will go to Treasury, Liquidity, and Development.

Solciety joins other networks that have raised millions of dollars in token sales this year. Bitcoin Dogs raised over $13 million in a token sale while BitBot raised over $6 million. You can buy the Solciety token here.

The post Dogecoin, Shiba Inu volume slumps as Solciety token sale thrives appeared first on CoinJournal.

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Coinbase files for LINK, SHIB, AVAX, XLM, and DOT futures

  • Coinbase files with CFTC to list futures for five altcoins.
  • The five altcoins futures include DOT, SHIB, XLM, AVAX, and LINK.
  • Trading for these futures to begin on or after July 15, 2024.

Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to list futures for five popular altcoins: Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink (LINK).

According to a release by Coinbase, these new futures products are set to start trading on or after July 15, 2024.

Coinbase seeks to expand its product suite

The addition of these futures is a significant step for Coinbase as it seeks to enhance its product suite and provide its users with more versatile trading options.

Futures contracts are financial derivatives that obligate the buyer to purchase, or the seller to sell, an asset at a predetermined future date and price. This allows traders to speculate on the future price movements of these altcoins with reduced upfront capital requirements compared to spot trading.

Coinbase emphasized the benefits of this expansion stating:

“With the addition of AVAX, LINK, DOT, XLM, and SHIB, our participants and their clients gain more access points to manage risk, speculate on price movements, and participate in the cryptoeconomy with reduced upfront capital requirements. This expansion not only diversifies our product suite but can also enhance our users’ overall trading experience.”

Among the five tokens, Avalanche (AVAX) holds the largest market capitalization, valued at $11.1 billion, followed by Shiba Inu (SHIB) with a market capitalization of $10.1 billion.

By introducing futures for these specific tokens, Coinbase is positioning itself to attract a broader range of traders and investors. The new futures products are expected to provide additional tools for market participants to hedge their investments and capitalize on the volatility of the cryptocurrency market.

Coinbase’s move underscores its commitment to innovation and growth within the rapidly evolving digital asset space, ensuring that it remains at the forefront of the industry.

The post Coinbase files for LINK, SHIB, AVAX, XLM, and DOT futures appeared first on CoinJournal.

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Europe’s MiCA will take effect on Sunday, ushering in a new age of transparent crypto regulation

  • The Markets in Crypto-Assets (MiCA) regulation is a legislative framework established by the European Union to regulate crypto assets and related services within the region.
  • MiCA was adopted by the European Parliament in 2023 and will come into effect on Sunday, although not all at once.

MiCA provides regulatory clarity to the entire digital assets market across the Eurozone, making Europe one of the first Western countries to implement a clear framework that crypto exchanges, digital assets companies, and stablecoin issuers can adopt to remain compliant.

The framework aims to protect European investors from the fraud and risks plaguing the crypto markets while fostering innovation, economic competitiveness, and the interest of the Eurozone.

MiCA pushes for innovation in its stipulations around stablecoins, which will allow Euro-denominated stablecoins to replace the dollar-denominated variant. Under the new rules, stablecoins will be treated as electronic money, subjecting issuers to the same levels of compliance as traditional banks and money transmitters, including a 1:1 redemption to the Euro.

While the framework pushes for bold reforms, it also emphasizes protecting the European investor by mandating digital service providers obtain licenses as either digital asset service providers (DASP), virtual asset service providers (VASP), or crypto asset service providers (CASP).

Global stablecoins are not allowed under MiCA, and stablecoins pegged to other cryptocurrencies must primarily comply with European e-money licensing requirements. This would entail abiding by prudential, financial-crime compliance, and other rules.

To boost job and economic growth, licensed entities must maintain a local presence within the EU, which will serve as a base for their European operations.

While MiCA is a step forward, it is not without fault. Some of its faults include the cost of compliance, which could be burdensome on smaller crypto exchanges and service providers, vague (virtually non-existent) stipulations around decentralised finance, and a lack of flexibility in some stipulations, like those around stablecoins.

The post Europe’s MiCA will take effect on Sunday, ushering in a new age of transparent crypto regulation appeared first on CoinJournal.

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SEC files lawsuit against Consensys

  • The US Securities and Exchange Commission (SEC) has sued Consensys.
  • SEC filed its lawsuit against the company on Friday, alleging unregistered broker dealer and offer of unregistered securities.

The US Securities and Exchange Commission (SEC) has sued Consensys, the Ethereum developer and software provider.

On Friday, June 28, the SEC filed a lawsuit against the company alleging Consensys has operated an unregistered broker dealer and offered unregistered securities. The regulator’s complaint is also about MetaMasks services – crypto swaps and staking.

“Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities, thereby depriving investors of crucial protections that those laws afford,” the SEC alleged in the filing.

SEC highlights Lido, Rocket Pool staking

The SEC notes in the complaint filed at the United States District Court Eastern District Of New York that the MetaMask Swaps service has operated since October 2020, while Consensys has offered staking programs via the crypto wallet and platform since January 2023.

“By its conduct as an unregistered broker, Consensys has collected over $250 million in fees,” the SEC argues.

The lawsuit mentions Polygon (MATIC), Chiliz (CHZ), the Sandbox (SAND), Mana (MANA), and Luna (LUNA) as some of the securities.

SEC alleges that Lido (LDO) and Rocket Pool (RPL) staking programs are “investment contracts and, therefore, securities.”

According to the regulator, investors using the protocols expect profits with this coming from Lido and Rocket Pool’s managerial efforts. But Lido and Rocket Pool have both not registered with the SEC.

Today’s news comes a few days after Consensys said the SEC had ended its investigation into Ethereum 2.0. Consensys sued the regulator in April seeking clarification over Ethereum.

Notably, SEC approved spot Ethereum ETFs in May.

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