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3 tokens watch as crypto eyes bounce: PYTH, TIA, MMTR

  • Pyth Network (PYTH) and Celestia (TIA) have seen decent traction and could rally in 2024.
  • Memeinator is blazing through its presale, currently at $3.7 million as investors eye potential meme coin gains.

While the year is having a somewhat slow start given the excitement amid the build up to the spot ETFs approvals in the US, experts continue to opine that this could be a breakout year.

This has the overall sentiment mostly bullish, with the crypto market eyeing potential tailwinds such as the upcoming Bitcoin halving and further regulatory clarity. The long term impact of inflows via ETFs is also another factor providing impetus as traders position themselves across the market.

It’s with this view that Pyth Network (PYTH) and Celestia (TIA) are seeing significant investor attention. Meanwhile, presale token Memeinator (MMTR) could present an attractive meme coin for a diversified portfolio.

Memeinator (MMTR): Presale offers opportunity

While many meme coins face market oblivion for lack of utility or outright worthlessness, the Memeinator (MMTR) comes ready and loaded for a hostile takeover. The project uses blockchain and artificial intelligence (AI) to bring a gamified ecosystem to the meme coin world.

With staking and NFTs also part of the utility on offer, the Memeinator stands out from many meme coins struggling to hold onto hype-driven gains. Its growing community, the presence of a great team, clear roadmap and tokenomics add to the overall serious outlook that Memeinator projects.

As it eyes a race to the $1 billion market cap upon its trading debut in coming months, Memeinator will destroy all weak meme tokens. Currently, the presale, which has reached stage 13 and raised over $3.7 million, offers a great opportunity for an early bid.

MMTR price is $0.0197 and will jump to $0.0208 in the next stage, before hitting $0.0292 in the last presale stage. There’s a chance this token could explode after its presale, potentially challenging Shiba Inu and Dogecoin for the top meme coin spot.

Pyth Network (PYTH): Growing oracle ecosystem

Pyth Network (PYTH) is a blockchain oracle system for real-time market data. The platform, which gained remarkable traction amid impressive airdrops and exchange listings in recent months, is quickly growing into a force in the market.

The Pyth network’s scaling capacity sees it provide over 400 price feeds, with data from blockchains, crypto exchanges and market makers among others. These providers tap into smart contracts to contribute real-time price feeds for crypto, ETFs, equities, FX pairs and commodities.

More than 90 market providers currently publish data on Pyth, including Binance, Cboe, and Jane Street.

With the growth trajectory, it’s possible the price of PYTH could rise amid other favourable market conditions. There’s an opportunity to position for these gains given PYTH reached an all-time high of $0.5487 in November 2023.

At current prices, it’s about 35% down. However, this altcoin has seen a decent upside since January 10 when it traded below $0.23.

Celestia (TIA): Specialized rollup chains

Celestia price rose sharply after its mainnet beta launch in October and when crypto exchange Binance listed the modular data network’s native token.  

The blockchain’s traction comes amid massive airdrops for its TIA tokens and increased integration as projects seek to leverage its technology for practical flexibility, interoperability and scalability. As more networks tap into Celestia’s specialized rollup chains technology, amid a boost for altcoins, TIA could be one of the top coins to watch in the coming year or so.

TIA’s all-time high is $20.16, reached just this week – on January 15, 2024. According to CoinGecko data, the current price of $18.20 is about 779% above the all-time low of $2.08 hit on October 31, 2023.

Celestia ranks 34th among largest cryptocurrencies by market cap, with $2.8 billion. It could climb the charts should the upside momentum solidify in coming months.

If you are an investor looking for an opportunity in the market, do your own due diligence on the three tokens above. For Memeinator (MMTR), you can check their presale page.

The post 3 tokens watch as crypto eyes bounce: PYTH, TIA, MMTR appeared first on CoinJournal.

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PEPE crashes as SUI pumps 40%; GFOX headed for $5M target

2024 began with many speculations about general market performance. While the global crypto market awaited the approval of the SEC on Bitcoin ETF, another central talking point in crypto circles was the rise and fall of memecoins. 

Top on the list of memecoins that made a wave in 2023 was the $PEPE. However, the coin could not sustain its momentum of interest and price in the months that followed its launch. Another major controversy with the $PEPE was the PEPE coin 2.0. 

While investors were still trying to wrap their heads around the “imposter” new coin, memecoins like $SUI and $GFOX were announced. Both coins had promising price prospects for early holders, which they have maintained into 2024.

In this piece, we dissect the highs and lows of Pepecoin, the potentials of the new Pepe coin, and the current interest with $SUI and $GFOX. Take a look.

Latest on PEPE

Pepe Coin ($PEPE) is a memecoin built on the Ethereum blockchain that gained popularity after its launch in April 2023. Despite its volatile price, thousands of investors have purchased the coin across major crypto exchanges.

In August 2023, there were general concerns that an “undefined” amount of $PEPE tokens were inexplicably transferred from the project’s wallet to centralized exchanges. This caused a drop in the coin’s price and acceptance. In September, despite reassurances by the Pepe community about the safety of the remaining tokens, the price continued to decline. In October, a new team of advisors was announced, along with the burning of some tokens, to increase the coin’s scarcity and price.

Pepecoin appeared to be back on the right track after these major changes until the arrival of Pepe 2.0. The new Pepe coin is rumoured to have been created by blacklisted individuals from the original Pepe Coin project. Unlike the tax-free original, Pepe 2.0 imposes a 1% transaction tax for marketing, liquidity, and community development, which has naturally limited its acceptance, popularity, and price.

The roadmap of the new Pepe Coin includes vague phases of a coin launch with no plan for community partnerships or listing on Tier 1 exchanges. 

SUI’s 40% price pump

SUI token, backed by Mysten Labs, has made remarkable price progress. $SUI now ranks number 13 among all L-1 blockchains in terms of Total Value Locked (TVL), thus generating a lot of hype for its native token, resulting in its recent price surge.

This isn’t the first time $SUI has made a positive impression in the market. SUI reached its all-time high price on the 2nd of May, 2023, with a 228% increase despite the fluctuations in the macro crypto market.

As of the time of writing this report, $SUI’s price has dropped slightly in the past 24 hours to the $1.30 level, though it’s still clocked an impressive 55% increase over the past week.

While these statistics suggest that $SUI is a good investment, it’s important to know that the token has a relatively low market cap, making it highly volatile,  and notoriously poor tokenomics that caused it to crash by 70% upon its retail exchange launch. After this recent recovery, $SUI may be unable to sustain a further price rally due to large stakeholder sell pressure. Hence, investors have been rotating their profits out of $SUI to alternatives like $GFOX that have bigger upside potential and better tokenomics.

Galaxy Fox (GFOX) presale set to hit $5M

GFOX is one memecoin to watch out for in 2024. The coin has surpassed investors’ expectations in its presale, with over 95% of the stage 6 supply already sold. The project is on track to exceed $5 million in presale records by the end of January 2024, having already raised close to 50% of its target. With its growing price and low risks, analysts have speculated that $GFOX is the next big coin.

At the heart of the Galaxy Fox ecosystem lies an engaging play-to-earn game. This enchanting game is designed to entertain and reward players simultaneously, hence its global popularity. Upon its exchange platform listing, the coin is expected to be among the top 3 memescoins. This is also expected to increase $GFOX’s price by 50x its current presale price.

Final thoughts

2024 has begun on a good note for crypto investors, with the SEC ruling for the official sale and purchase of Bitcoin ETFs. Now, Investors are more optimistic about market trends and prices.

While memecoins like PEPE Coin 2.0 may cast a shadow of doubt on the performance of memecoins in 2024; coins like $SUI and $GFOX are proof that good things await early investors. $SUI has seen over a 40% price pump within the last month, and $GFOX is poised to make 50x its current presale price. With $GFOX’s community and current market cap, this is one coin every investor should consider.

To learn more about $GFOX, you can visit the Galaxy Fox Presale Website or join the Community.

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$2B in dormant Bitcoin (BTC) moved after 5 years: Arkham

  • According to Arkham Intelligence, $2 billion in dormant Bitcoin (BTC) has moved for the first time in five years.
  • What next for Bitcoin as Grayscale also moves 9,000 BTC to a crypto exchange?

Arkham Intelligence has reported the movement of $2 billion worth of dormant Bitcoin (BTC) – also just before the US markets opened today. It’s the first time these coins have moved since 2019.

“$2 BILLION of dormant Bitcoin moved just before the US market opened today, across several linked addresses. The BTC had moved once in 2019, and before that had been dormant since 2013. Historically these Bitcoins have all moved at the same times and dates. They were consolidated today from 49 addresses into 5 new addresses, each now holding between 8K-12K BTC ($380M-$480M per address),” the blockchain security and market intelligence platform posted on X.

Arkham’s report came as BTC battled sell pressure amid the latest movement of Bitcoin linked to Grayscale, the company behind the Bitcoin Trust (GBTC) fund. Grayscale reportedly moved 9,000 BTC worth over $385 million on Tuesday.

The company’s BTC transfers occurred in several batches of 1,000 coins each and totaled over $385 million. Blockchain sleuth Lookonchain noted that Grayscale sent the Coins to Coinbase Prime.

Last week, wallets linked to Grayscale transferred 4K bitcoins to the exchange, per data Lookonchain shared on Friday January 12. These BTC movements have come as outflows from GBTC hit the market following the SEC’s approval of spot Bitcoin ETFs. 

Bitcoin price was poised at $43,071 early afternoon. Are these BTC movements set to inject new sell pressure on the benchmark crypto?

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EU banking watchdog strengthens AML measures for crypto firms

  • EBA extends AML guidelines to CASPs, addressing ML/TF risks in crypto transactions.
  • Guidelines provide risk factors and mitigating measures, urging blockchain analytics use.
  • Interconnected financial sector necessitates guidance for institutions dealing with CASPs.

In a momentous move to combat financial crimes, the European Banking Authority (EBA) has extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to encompass crypto-asset service providers (CASPs).

The new guidelines, effective from December 30, 2024, aim to harmonize anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts across the European Union (EU).

EBA guidance for crypto-asset service providers

The EBA’s latest directive emphasizes the growing risks associated with crypto transactions, underscoring the potential for abuse in terms of money laundering and terrorist financing. CASPs, involved in crypto-asset transfers, face heightened risks due to factors like transaction speed and features that may conceal user identities.

To address these risks, the EBA’s Guidelines provide a comprehensive list of risk factors, guiding CASPs in identifying vulnerabilities in their customer base, products, delivery channels, and geographical locations.

To effectively manage these risks, CASPs are encouraged to adopt mitigating measures, including the use of blockchain analytics tools. The EBA’s approach acknowledges the interconnected nature of the financial sector, extending guidance to other credit and financial institutions with CASPs as customers or exposure to crypto assets. This additional layer of oversight becomes crucial, especially when engaging with non-authorized crypto-asset service providers.

EU’s broader regulatory framework

The EBA’s extension of the ML/TF Risk Factors Guidelines aligns with the EU’s broader regulatory framework, emphasizing a risk-based approach to AML/CFT. The regulatory landscape includes the Markets in Crypto Assets (MiCA) legislation, the Financial Action Task Force (FATF) recommendations, and directives such as (EU) 2015/849 and (EU) 2023/1113.

The guidelines mandate competent authorities to report compliance within two months after translations are published in official EU languages. These initiatives reflect the EU’s commitment to addressing money laundering and terrorist financing risks in the crypto sector, ensuring alignment with international standards.

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Chainlink and Circle join forces for seamless cross-chain USDC transactions

  • Chainlink integrates Circle’s CCTP into CCIP, enhancing USDC for cross-chain DeFi transactions.
  • Developers gain tools for secure USDC transfers with CCTP’s permissionless on-chain utility.
  • CCIP’s advanced risk management features bolster security in decentralized applications.

In a groundbreaking collaboration, decentralized oracle network Chainlink has partnered with Circle to integrate Circle’s Cross-Chain Transfer Protocol (CCTP) into Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

This integration is set to revolutionize how developers build and execute cross-chain transactions involving USDC, a stablecoin gaining prominence in decentralized finance (DeFi).

Unlocking cross-chain potential with CCIP and CCTP

Chainlink and Circle united to enhance the capabilities of USDC for cross-chain transactions, providing developers with powerful tools to build secure applications. With the integration of CCTP into CCIP, the duo opens up new dimensions for decentralized applications (dApps) that require seamless USDC transfers across multiple blockchain networks.

Developers within Chainlink’s extensive blockchain ecosystem now have the means to leverage the advanced risk management features of CCIP. Sergey Nazarov, Co-Founder of Chainlink, expressed his enthusiasm for the role CCIP will play in meeting user requirements for secure and efficient USDC transactions.

Secure and capital-efficient cross-chain transfers

CCTP’s permissionless on-chain utility is a key feature, empowering developers to offer users a secure and capital-efficient method for transferring USDC across diverse blockchain networks. The emphasis on defence-in-depth security infrastructure, including the Risk Management Network and level-5 security measures, addresses the industry’s past challenges related to insecure cross-chain operations.

This integration comes at a crucial time, where decentralized finance (DeFi) is gaining momentum, and interoperability across blockchain networks is becoming increasingly vital. Chainlink and Circle’s partnership represents a significant step towards addressing these industry needs, providing developers with the tools to create applications that facilitate smooth and secure USDC transactions across chains.

The post Chainlink and Circle join forces for seamless cross-chain USDC transactions appeared first on CoinJournal.