Kategorie: Crypto News

• SEC’s approval of spot Ethereum ETFs could ignite the real-world assets (RWA) market.
• Analysts say this outlook will push ONDO and TOKEN prices higher?
• Bitbot token is emerging a top target for Telegram bot traders.

TokenFi (TOKEN) price rose 10% to reach $0.13 while Ondo (ONDO) surged more than 13% to hit a new all-time high of $1.15. Key to the positivity around these two tokens is anticipation around a new growth trajectory in the real-world asset (RWA) market.  

Also on analysts’ lists of bullish sectors is the Telegram trading app ecosystem. New project Bitbot (BITBOT) is showing remarkable presale performance to suggest it could be one to watch.

Here’s the price outlook for these three tokens.

TokenFi and Ondo could be biggest winners of ETH ETF approval

On Friday, technical analyst Shelby aka Crypto Newton, pointed out that one of the biggest winners following the Ethereum ETFs approval could be the real-world assets (RWA) space.

Top of the list of projects likely to outperform amid the anticipated adoption wave are TokenFi and Ondo Finance.  

“The RWA sector seems to be the biggest winner of the $ETH ETF approval today, with $TOKEN and $ONDO showing impressive strength shortly after the approval! I expect TokenFi to dominate even more in the coming weeks alongside the entire RWA sector as BlackRock CEO Larry Fink goes on national TV to talk about how the ETH ETF will accelerate #tokenization,” Shelby opined.

Both tokens have surged double-digits in the past 24 hours, with ONDO up 17% and TOKEN currently soaring by 14%.

The ETF sentiment and RWA narrative have pushed ONDO to a new all-time high, with price hitting $1.15 earlier in the day. If bulls take control and push higher, Ondo price could target more gains price discovery.

Meanwhile, TOKEN price has reached a four-week high of $0.13. This opens up a potential breakout to the all-time high of $0.24 reached in March.

The TokenFi team is upbeat on the next era for tokenization, a topic that BlackRock CEO Larry Fink has expounded on severally.

What is Bitbot?

Bitbot is a new project looking to dominate by offering the world’s first non-custodial trading bot on Telegram. This puts focus on the security of users’ assets as they trade on the world’s largest instant messaging app.

For traders, Bitbot promises more than access to all the top institutional-grade trading tools and AI-powered features.

The whitepaper describes a secure trading interface backed by the self-custody solution of Knightsafe, as well as anti-rug and anti-MEV protection – aspects that set the new bot apart from current apps.

Bitbot price prediction as presale reaches final stages

TOKEN and ONDO price gains in the past 24 hours come as the crypto market welcomes SEC’s approval of spot Ethereum ETFs.

In a week that also saw US lawmakers pass key crypto bills amid bipartisan strengthening, the market is extremely abuzz. The outlook for the industry has analysts taking bullish stances on projects that could benefit most from the regulatory clarity emerging in the US.

Bitbot looks set to be one of those to watch as the crypto trading market grows.

As it moves towards its launch, Bitbot offers early adopters a chance to get the native BITBOT token at heavily discounted prices.

Currently, the presale is at $0.0189 per token. The final stage will see Bitbot price increase to $0.02 before the listing on top exchanges potentially catalyses an explosive market debut.

Learn more here.

The post TokenFi and ONDO soar amid bullish predictions for RWA tokens appeared first on CoinJournal.

• OKX withdraws VASP license application in Hong Kong.
• The exchange will cease trading services by May 31.
• Users can withdraw funds until August 31.

OKX has announced the withdrawal of its Virtual Asset Service Provider (VASP) license application in Hong Kong.

The exchange stated in its website that “After careful consideration of our business strategy, we’ve decided to withdraw OKX HK’s VASP license application at this time.”

By withdrawing from Hng Kong, the exchange, ranked as the third largest globally by trading volume, follows a similar path taken by other major applicants like Huobi Hong Kong earlier this month.

OKX to cease Hong Kong operations from May 31

Effective May 31, 2024, OKX will cease providing centralized crypto asset trading services to Hong Kong residents.

This decision, described as a strategic reassessment by the company, emphasizes a shift in business priorities amid a challenging regulatory environment. Despite this move, OKX assures that customer funds will remain safe and that users will retain the ability to withdraw their assets.

The move aligns with a growing trend as multiple exchanges reevaluate their operations in Hong Kong due to stringent regulatory frameworks and slow approval processes by the Securities and Futures Commission (SFC). Notably, the SFC has only approved two exchanges since 2022, highlighting the rigorous standards in place.

From June 1, 2024, OKX will only support withdrawal transactions in Hong Kong, advising users against making deposits as these might not be automatically credited post-deadline.

Open orders remaining after May 31 will be automatically canceled, and the funds will be returned to users’ accounts. Customers are encouraged to withdraw their assets by August 31, 2024, after which direct withdrawals or transfers will no longer be possible.

The exchange’s Web3 services, including self-hosted wallets, will continue to operate normally in Hong Kong, allowing users to maintain decentralized financial activities without interruption.

In the meantime, OKX’s customer support team remains available to assist users during this transition.

The post OKX withdraws VASP license application in Hong Kong appeared first on CoinJournal.

• Kabosu, the Shiba Inu behind Dogecoin (DOGE) has passed away at age 18.
• Dogecoin’s price fell over 5% to $0.1535 following the news of Kabosu’s death.
• Kabosu’s legacy endures through Dogecoin’s charitable impact and community tributes.

In a poignant moment for the cryptocurrency community, Kabosu, the Shiba Inu dog that inspired the iconic Dogecoin (DOGE) meme, has passed away at the age of 18.

The news, announced by her owner Atsuko Sato on May 24, 2024, has reverberated across the globe, sparking a wave of condolences and reflections on Kabosu’s remarkable impact on internet culture and the crypto world.

From a shelter dog to the face of a viral crypto sensation

Kabosu’s journey from a shelter dog to the face of a viral sensation began in 2010 when Sato posted photos of her newly adopted pet online.

One image, capturing Kabosu’s skeptical yet curious expression, quickly went viral, giving birth to the “Doge” meme.

Accompanied by humorous, broken English phrases, this meme became a staple of internet humor and eventually the official logo of Dogecoin (DOGE) cryptocurrency.

Over the years, Dogecoin has transcended its meme origins, contributing to various philanthropic causes, such as funding clean water projects and sponsoring the Jamaican bobsled team and Kabosu’s image became a symbol of these efforts, reinforcing the positive social impact of the Dogecoin community.

Impact on Dogecoin (DOGE) price

The death of Kabosu has not only evoked emotional responses but has also influenced the financial markets specifically the crypto market.

Following the announcement, Dogecoin’s price dipped over 5%, trading at $0.1535. Although it has slightly recovered, Dogecoin (DOGE) price was still about 3% down at $0.1627.

Shiba Inu (SHIB), another Shiba inu-themed meme coin, also experienced a similar downturn, dropping 5.5% to $0.00002422 highlighting the deep connection between the sentiment surrounding Kabosu and the performance of related cryptocurrencies.

Amid the DOGE price decline following Kobosu’s death data from IntoTheBlock reveales a surge in large DOGE transactions, with the value of significant trades more than doubling to $3.01 billion within 24 hours.

Additionally, a dormant Dogecoin whale holding 893,303 DOGE became active after a decade, transferring a portion of their holdings to Binance.

Dogecoin community moan Kobosu’s lose

The Dogecoin community has been vocal in their tributes. The official Dogecoin account on X acknowledged Kabosu’s profound global impact, describing her as a source of happiness and limitless love.

Today Kabosu, our community’s shared friend and inspiration, peacefully passed in the arms of her person. The impact this one dog has made across the world is immeasurable.

She was a being who knew only happiness and limitless love.

Please keep her spirit and her family in…

— Dogecoin (@dogecoin) May 24, 2024

Many in the Web3 community including Kabosu’s owner have also shared their condolences, underscoring Kabosu’s role in fostering a lighthearted and charitable spirit within the crypto sector.

On November 2nd 15 years ago, we welcomed Kabosu to our family.
I still remember her on the first day she came home. She was scared, sitting in the corner of the room, motionless and silent. She simply stared at me with those big round eyes. pic.twitter.com/4miYReNemr

— かぼすママ (@kabosumama) November 4, 2023

Kabosu’s farewell party is scheduled for May 26 in Narita City, Japan.

As the world bids adieu to this beloved Shiba Inu, her spirit and the joy she brought will undoubtedly continue to inspire and shape the digital landscape for years to come.

The post Dogecoin (DOGE) price takes a bow as Shiba Inu Kabosu dies appeared first on CoinJournal.

• Ripple CEO hints at potential XRP ETFs following Ethereum ETF approvals by SEC.
• Brad Garlinghouse’s endorsement aligns with his optimistic outlook for XRP in 2024.
• Regulatory challenges and Ripple’s SEC lawsuit impact the timing of potential XRP ETFs.

Ripple CEO Brad Garlinghouse has indirectly hinted that XRP could be the next cryptocurrency to see the launch of exchange-traded funds (ETFs).

This follows the recent approval of eight spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).

Spot XRP ETF prospects post Ethereum ETFs approval

Garlinghouse’s subtle nod to the possibility of XRP ETFs came via his reaction on X (formerly Twitter) to a comment on his post celebrating the US SEC’s approval of all Ethereum ETF applications. Among the approved ether ETF applications were those from prominent financial entities such as BlackRock, Grayscale, VanEck, and Fidelity.

Describing the week’s events as “momentous” for the crypto industry, Garlinghouse likened the SEC’s approvals and the passing of the FIT21 crypto bill to a “hell freezes over” scenario, a sentiment that resonated with many in the community, who have long anticipated similar advancements for their favored cryptocurrency.

Earlier on in an interview in February, Garlinghouse had expressed his belief that an XRP spot ETF was inevitable.

He emphasized the importance of such an investment product for diversification purposes but refrained from committing to a specific timeline, citing regulatory uncertainties as a major factor.

When questioned about potential collaborations with asset managers like BlackRock for an XRP ETF, Garlinghouse remained non-committal, acknowledging the complexities involved.

Ripple legal battles standing in the way of an ETF approval

Despite Garlinghouse’s enthusiasm, the path to an XRP ETF is fraught with challenges.

The ongoing lawsuit between Ripple and the SEC, which has accused Ripple of selling unregistered securities, remains a significant hurdle. The outcome of this legal battle will likely play a crucial role in determining the feasibility and timing of an XRP ETF.

While Ripple CEO is optimistic of an EXP ETF approval, Bloomberg ETF analyst James Seyffart suggested that Solana (SOL) might be a more probable candidate than XRP.

Seyffart argued that Solana’s market position and broader appeal make it a strong contender, though he cautioned that a Solana ETF might not materialize until 2026, contingent upon regulatory developments and the establishment of a CFTC-regulated futures market.

I’m sorry you’re simple minded. Ill dumb it down for you.

Based on current regulatory framework I don’t think Solana will be in an ETF for multiple years. Likely beyond 2026 at earliest.

But Congress can theoretically accelerate that timeline.

— James Seyffart (@JSeyff) May 22, 2024

While no other crypto ETF applications have been made so far, the approval of Ethereum spot ETFs and the legislative advancements marked by the FIT21 crypto bill signify significant progress for the cryptocurrency sector.

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