Kategorie: Crypto News

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Spot Ethereum ETFs approval likely on May 23: Standard Chartered

  • Standard Chartered Bank says the SEC could approve spot Ethereum ETFs on May 23, the final deadline for applications currently before the regulator.
  • Ethereum price could surge to over $4,000 by then, the bank said in a report.

The US Securities and Exchange Commission (SEC) is likely to give a nod to the first spot Ethereum ETF in May, the Standard Chartered Bank said in a report on Tuesday.

In particular, the bank’s analysts see the regulator approving the ETH spot ETFs on May 23. According to the bank’s note shared with clients and reported on by The Block, the May date is the final deadline for applications before the SEC.

“We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs,” Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, said.

ETH price could surge to $4,000

The SEC recently delayed spot Ethereum ETF applications for BlackRock and Fidelity. However, should the regulator approve the ETF proposals before it, the price of Ethereum could skyrocket. In the lead up to the approval, Standard Chartered sees a potential spike to $4,000.

“If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then.”

Bitcoin price rallied following BlackRock’s spot Bitcoin ETF application, surging from around $25k to hit a a high of $49k. While prices are back to lows of $43k, after rebounding from around $38.6k last week, the market is bullish as the next BTC halving approaches.

Ethereum surged after BlackRock filed for a spot ETH ETF in November, reaching highs above $2,700. The leading altcoin’s price is currently near $2,375, up 3% in the past hour as the altcoin market looks to bounce alongside the benchmark cryptocurrency.

The post Spot Ethereum ETFs approval likely on May 23: Standard Chartered appeared first on CoinJournal.

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Binance Labs invests in Ethereum liquid restaking protocol Puffer

  • Binance Labs has invested an undisclosed amount in Ethereum restaking protocol Puffer.
  • Puffer Finance will use these funds to develop its Layer 2 network and to bring ETH staking and restaking rwards to BNB Chain users.
  • Binance Labs on Monday, January 29, denied claims it had participated in a $15 million funding round for SkyArk Chronicles.

Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has made a strategic investment in Puffer Finance, a decentralised liquid restaking protocol on EigenLayer.

Although Binance Labs hasn’t disclosed the invested amount, it revealed in its announcement that Puffer will use the investment to develop its open-source technologies. 

Today’s announcement comes a day after Binance Labs released a statement distancing itself from claims that it had led a $15 million funding round for gaming platform SkyArk Chronicles.

Puffer to use investment on its L2 and restaking rewards

One of the project areas to see funding from the investment will be Puffer’s actively validated services (AVSs) on a Layer 2 network. Puffer will run its upcoming L2 as an AVS on EigenLayer AVS, Binance Labs said on Tuesday.

“As Puffer continues to develop, our unique approach, supported by collaborations with eminent researchers, elevates validator profitability, contributing to Ethereum’s decentralization and securing its infrastructure with EigenLayer,” Amir Forouzani, founder of Puffer, said in a statement.

“We are incredibly excited about laying a robust foundation for the future of decentralized trust, ensuring a resilient and thriving ecosystem for years to come,” Forouzani added.

Also set to receive a boost from Binance’s venture arm is Puffer’s liquid restaking technology that will see the protocol’s native liquid restaking token go live on the BNB Chain. The target here is to bring ETH staking and restaking rewards to users on the BNB Chain.

Puffer has previously received investment funding from various venture firms, both during its pre-seed and seed round. Among investors in the protocol’s $5.5 million seed round were Lemniscap, Lightspeed Faction, Brevan Howard Digital, Animoca Ventures, Canonical Crypto and Bankless Ventures.

The project also secured a grant from the Ethereum Foundation for its first innovation – a remote signing tool dubbed Secure-Signer. Validators on the Ethereum network can tap into this tool to reduce risk of slashing.

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SBINFT launches its NFT marketing platform SBINFT Mits

  • SBINFT Co., Ltd., operator of the largest NFT marketplace in Japan, has launched its NFT marketing platform dubbed SBINFT Mits.
  • The platform will help individuals and global brands tap into the power of NFTs to drive their Web3 marketing strategies.
  • SBINFT initially announced Mits at the 2023 WebX Summit held in Japan in July last year.

SBINFT Co., Ltd.,  has announced that its new NFT marketing platform SBINFT Mits is now available globally, paving the way for the global community and international brands to tap into the benefits of NFTs as they bring Web2 projects to Web3.

The NFT marketplace operator, which pivoted its focus to gaming NFTs in June last year following a partnership and rebrand, said in an announcement that SBINFT Mits targets both individuals as well as big business across the market.

SBINFT Mits will allow companies and social media influencers among others to blend their marketing strategies with digital collectibles as they build customers and communities.

The platform’s launch is SBINFT’s “stride into the NFT information technology revolution,” Ko Jangdeok, CEO of SBINFT, said in a statement. According to Jangdeok, digital transformation is taking over the world and SBINFT is taking major steps to be at the forefront of this change.

”As we usher in a new era of digital collectibles and marketing, we stand resolute in our commitment to being at the center of this monumental shift,” Jangdeok added.

SBINFT Mits to incentivize users

SBINFT (formerly SmartApp) pivoted into the blockchain NFTs space in June last year after it partnered with Oasys blockchain.

That followed a successful footprint in the market following its launch in 2018, particularly after the company unveiled its NFT marketplace in 2021. It’s after joining Japanese giant SBI group that the company rebranded from SmartApp to SBINFT.

SBINFT announced SBINFT Mits at the 2023 WebX Summit, Asia’s biggest Web3 event held in Japan in late July last year.

The platform features functionalities such as event management and NFT analytics tools. It plans to mint for NFT collections and integration with physical merchandise to allow for mainstream adoption across the world.

SBINFT Mits launched its open beta in October 2023, quickly attracting sign ups from 37 Japanese brands, among them Yucho Brewery, Securitize and H.I.S.

The platform supports utility NFTs across blockchain games and e-tickets, and secondary sales of blue-chip NFT art, photography and music. The company will incentivize users on the new platform via a points system, allowing rewards for users who participate in a brands’ marketing initiatives.

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Bitpanda withdraws from the Netherlands amid regulatory compliance concerns

  • Bitpanda ceases operations for Dutch residents.
  • The exchange has cited regulatory compliance concerns for the exit.
  • The decision aligns with the exchange’s commitment to cooperate with local regulators in the Netherlands.

Bitpanda, a leading cryptocurrency exchange platform, has announced its decision to cease operations for Dutch residents due to regulatory compliance issues in the Netherlands.

This move underscores the company’s commitment to adhering to local regulatory frameworks, highlighting the challenges crypto exchanges face amidst evolving legal landscapes. It aligns with the company’s dedication to cooperating with local regulators and ensuring compliance with the latest regulations.

Impact of MiCA Legislation in the EU

The Netherlands, as a member of the European Union, operates within the framework of the Markets in Crypto Asset legislation (MiCA). This legislation enables companies to obtain a single license in one EU country and operate across the entire bloc. However, despite this broader regulatory framework, individual countries within the EU may impose additional requirements, necessitating tailored approaches to compliance.

As Bitpanda navigates the regulatory landscape, the decision to withdraw from the Netherlands highlights the complexities faced by cryptocurrency exchanges operating across multiple jurisdictions. Bitpanda aims to maintain transparency and trust within the evolving crypto ecosystem by prioritising compliance with Dutch regulations.

The company’s proactive approach to regulatory compliance reflects a broader trend within the cryptocurrency industry, where regulatory scrutiny continues to shape market dynamics. As governments worldwide explore regulatory frameworks for digital assets, exchanges like Bitpanda must remain vigilant and adaptable to ensure continued operations within legal boundaries.

Bitpanda reaffirms its commitment to operating responsibly within the evolving regulatory landscape by prioritising adherence to local regulations.

The post Bitpanda withdraws from the Netherlands amid regulatory compliance concerns appeared first on CoinJournal.

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Bitcoin tops $43k once again: Is it time to buy more Memeinator tokens?

Key takeaways

  • Bitcoin is up by 3% in the last 24 hours and is now trading above $43k once again.

  • Memeinator is set to conclude the 13th stage of its presale and has raised nearly $4 million so far. 

Bitcoin now trading above $43k

The cryptocurrency market has been bearish over the last two weeks. However, the trend is changing and Bitcoin has recovered some of its lost value. Bitcoin is up by more than 3% in the last 24 hours and is now trading above the $43k level again.

At press time, the price of Bitcoin stands at $43,365 per coin. Bitcoin’s positive performance has spread across the broader market, with the total cryptocurrency market cap now above $1.65 trillion.

The rally comes as investors expect the US Federal Reserve to maintain its current interest rate. However, if the Fed is to reduce interest rates, BTC and other cryptocurrencies could rally higher in the short term. With the market looking promising, this might be a good opportunity for investors to buy more digital assets. 

What is Memeinator?

Investors who are interested in meme coins could look into Memeinator. It is a meme coin that could become a leader in the space. Memeinator is a meme project designed to help content creators generate better content. 

According to their whitepaper, Memeinator seeks to uphold the culture of quality memes on the internet, ensuring that there is a higher level of quality content available to users. While the crypto space has thousands of meme coins available, only a few offer real-world utility to the users. Memeinator will be one of the few meme coins that offer value to their users and stakeholders. 

Memeinator will leverage AI technology to identify worthless memes on the internet, allowing users to know them and steer clear of them. The Memeinator developers also have strategies in place that would enable Memeinator to reach $1 billion in market cap over the coming years. They have published a detailed roadmap that shows how Memeinator will reach the $1 billion market cap. 

At the moment, Memeinator is still in its presale stage and has raised nearly $4 million so far. In the first presale stage, the MMTR was sold for $0.01 and will rise to $0.0485 by the end of the presale, giving early investors an astonishing 132% ROI at listing. 

Memeinator’s presale raises over $3.9 million

The Memeinator presale is growing and attracting more investors. It is currently in its 13th stage and has raised more than $3.9 million so far. 

The native MMTR token can be purchased using three tokens, ETH, USDT, and USDC. According to the official website, the token is available to users on the Ethereum and BNChain blockchains. 

Furthermore, MMTR can be purchased using a wide range of supported wallets. However, keep in mind that MMTR can only be purchased using ETH, USDT and USDC coins. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale selling rapidly?

The Memeinator presale is selling fast thanks to the project’s unique proposition to the cryptocurrency space. If the development team rolls out its products and services, Memeinator could become one of the leading meme coins in the crypto space. 

Its solutions could find massive utility amongst degens, crypto natives, and speculators. The team believes that Memeinator’s use cases go beyond the crypto space, as content creators could use its services to gain access to quality memes. 

The Memeinator solution will combine AI and blockchain technology. Its AI solution will allow users to analyze and evaluate memes across the internet. This makes it possible to identify lower-quality memes and replace or destroy them. 

Powered by MMTR, Memeinator is set to offer a wide range of incentives to the token holders. The token has deflationary mechanisms and rewards for holders. The team has also allocated 20% of the tokens for marketing, CEX listing and liquidity. 

Will MMTR rally higher? 

At the moment, MMTR is still in presale, which means it is highly unlikely to determine whether it will rally higher or not. However, Memeinator has massive potential and could become one of the leading meme coins in the coming years. The right level of adoption could see Memeinator’s market cap reach $1 billion over the coming years. 

Leveraging AI and blockchain technology could see Memeinator take advantage of the growing popularity of these two technologies. Currently, its MMTR token is still in presale and could record a massive value increase once it gets listed on centralized and decentralized exchanges.

The post Bitcoin tops $43k once again: Is it time to buy more Memeinator tokens? appeared first on CoinJournal.