Kategorie: Crypto News

• Celestia (TIA) price rose 22%, Aptos (APT) and Stacks (STX) saw 14% and 11% in upside swings respectively.
• Altcoins are flipping higher as Bitcoin looks to bounce amid spot Bitcoin ETF related news and speculation.

With Bitcoin price looking for swift recovery from the flash crash that decimated markets on Wednesday, several altcoins appear poised to take a greater lead. Celestia (TIA), Aptos (APT) and Stacks (STX) are all up double digits in the past 24 hours.

TIA, APT and STX among top gainers today

Celestia’s price was up 22%, Aptos 14% and Stacks 11% at the time of writing on Thursday morning. The altcoins were seeing double-digit gains as the anticipated approval of the first spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) continued to drive the overall market sentiment.

Analysts have over the past several weeks predicted that a positive outcome from the SEC regarding spot Bitcoin ETFs could catalyse a notable upside in the crypto market. On January 4, the market was looking to bounce off speculation that the regulator was likely to reject proposals before it.

Fox Business reporter Eleanor Terret noted on Wednesday that the SEC had met with various stock exchanges as it looks to finalise comments on form 19b-4s that spot ETF issuers have submitted. 

Elsewhere, speculation is that the regulator could give a nod to applicants including BlackRock, Fidelity, Ark Invest/21 Shares and Grayscale as soon as Friday, January 5. As CoinJournal highlighted earlier today, investment banking giant Goldman Sachs is said to be in talks with BlackRock to become an authorised participant.

Bitcoin price has gained nearly 2% in the past 24 hours to trade above $43,400.

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• Huobi Korea implements upgrades and restrains some services for improved exchange.
• Huobi Korea to terminate local virtual asset services on Jan 29 due to industry concerns.
• Recent changes in ownership and proof of reserves showcase resilience and commitment.

In a strategic move, Huobi Korea has announced the termination of its local virtual asset trading services. As per the official notice on its website, the termination is scheduled for January 29, underscoring concerns about the current industry environment.

This decision is attributed to the evolving industry landscape and is part of the exchange’s broader initiatives for brand renewal and system upgrades.

Huobi Korea’s termination

This bold move aligns with the exchange’s proactive measures to adapt to changing market dynamics. Huobi Korea has not only restricted some services but is also undergoing brand renewal and system upgrades, signalling its commitment to offering enhanced virtual asset exchange services.

The company, expressing gratitude to its loyal customers, emphasized its regret for discontinuing services to those who have been patrons for an extended period. However, amidst this transition, Huobi Korea reassures its users that it will continue to support the withdrawal of assets without any disruption. Customers are encouraged to withdraw their holdings in both Korean Won (KRW) and virtual assets.

This termination announcement comes on the heels of significant changes within Huobi Korea. In the preceding year, the exchange had already taken steps to operate independently from its parent company, Huobi Global. Chairman Cho Kook-bong acquired majority shares, marking a distinct shift in ownership.

Huobi Korea’s decision to terminate virtual asset trading services also follows the publication of a “proof of reserves,” showcasing a robust reserve ratio of 101%. This move, perhaps prompted by industry concerns surrounding crypto firms’ solvency, occurred shortly after the collapse of the FTX crypto exchange.

Looking forward, Huobi Korea plans to re-enter the market through new blockchain business models and services. The exchange’s resilience and adaptability in response to industry challenges demonstrate a strategic approach to sustaining its position in the ever-evolving cryptocurrency landscape.

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• Fetch.ai eyes upside bounce as Indonesia’s largest exchange adds FET
• FET daily trading volume spikes 47% as price reclaims support above $0.60.
• A broader bullish market could see FET break to $1 and target new all-time high.

Fetch.ai (FET) price was down 9% on Thursday as the declines across the crypto market saw most coins pare gains seen in the last week of December and early January.

But while FET traded at lows of $0.65, the token’s listing on Indonesia’s largest crypto exchange and an expected uptick across crypto could see bulls target a notable bounce towards the crucial $1 level.

Fetch.ai price outlook

After gaining more than 40% in the past month as price reached highs of $0.78, FET gains in the last 30 days are down to 28%. The token is in the red over the past fortnight. 

However, Fetch.ai remains in a strong position given the bullish sentiment surrounding crypto and the expected buoyance from the 2024 AI narrative.

Short-term, the listing of FET on INDODAX (the largest cryptocurrency exchange in Indonesia), could add to recent retail interest in the project.

On January 4, INDODAX added FET/IDR, and the listing coincided with an uptick in trading volume for Fetch.ai (FET). According to data from CoinGecko, over $171 million worth of FET had been traded in the last 24 hours as of Thursday morning. This represented a 48% increase.

The jump in daily volume comes as FET price looks to hold above the key $0.60 area. The token has retested this as support and fresh accumulation here could see buyers target $0.80.

If the resistance zone flips into support, a bounce to $1 could open FET/USD to a potential spike amid price discovery. The all-time high for Fetch.ai price is $1.17, reached in September 2021.

The post Fetch.ai (FET) reclaims key support amid fresh accumulation appeared first on CoinJournal.

Key takeaways

• Dogecoin and Shiba Inu have lost more than 10% of their values over the last 24 hours.

• Memeinator’s presale has now officially crossed the $2.8 million mark.

The crypto market recorded a huge selloff on Wednesday, with Bitcoin retesting the $40k level before bouncing back above $42k. Meanwhile, leading meme coins Dogecoin and Shiba Inu also recorded massive losses yesterday. 

Dogecoin and Shiba Inu record huge losses

Bitcoin and altcoins are experiencing a poor start to the year. After rallying to the $45k level on Monday, its highest level since April 2022, Bitcoin lost nearly 10% of its value on Wednesday to briefly trade around the $40k region. 

Bitcoin’s poor performance also reflected in leading meme coins Dogecoin and Shiba Inu. The two leading meme coins have lost more than 10% of their values over the last 24 hours. At press time, the price of Dogecoin stands at $0.08256 while SHIB is trading at $0.000009576 per token. 

With these meme coins all underperforming at the moment, it might be a great opportunity for investors to load up on the meme bags. 

What is Memeinator?

For investors interested in meme coins, Memeinator could be one of the projects to consider. It is a meme project that seeks to help content creators generate better content. 

It will help content creators change how they use memes to relate with their audiences. Memeinator will leverage the hype around meme coins by providing users with numerous use cases.

The primary goal of the project is to target and destroy worthless memes, ensuring that there is a higher level of quality content available to users. 

While we have thousands of meme tokens out there, not many of them provide real-world use cases to their users. Memeinator will be one of the few meme coins that offer value to their users and stakeholders. 

According to the whitepaper, Memeinator will use AI  to identify worthless memes, allowing users to know them and steer clear of them. The team also has 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. 

The Memeinator presale is currently in its eleventh stage and has raised more than $2.8 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 $2.8 million

The Memeinator presale is growing and attracting more investors. The eleventh presale stage will soon be completed and the team has raised more than $2.8 million so far. 

Its 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. 

To purchase the MMTR token, users can simply connect any of the supported wallets to the Memeinator website. 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 growing rapidly?

The Memeinator presale is growing rapidly thanks to the project’s immense potential. The value proposition it offers to users and stakeholders is immense and it could become one of the leading meme coins in the world. 

The Memeinator project 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. 

To enable it to serve users, Memeinator 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. 

Its native MMTR token offers various incentives to the 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? 

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 in the medium to long term. 

Its use of AI and blockchain technology could allow Memeinator to offer excellent value to users and stakeholders. At the moment, its MMTR token is still in presale and could record a massive value increase once it gets listed on centralized and decentralized exchanges.

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