Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

Bitcoin ETF may be a ‘limited’ benefit for Coinbase stock: Barclays

  • Mike Novogratz expects SEC to approve a Spot Bitcoin ETF this year.
  • Barclays analyst does not expect that to be a huge benefit for Coinbase.
  • Coinbase stock is currently down over 30% versus its year-to-date high.

Mike Novogratz – the Chief Executive of Galaxy Investment Partners expects the Securities & Exchange Commission to approve a Spot Bitcoin ETF by the end of this year.

Here’s what Mike Novogratz said today on CNBC

Last week, the U.S. regulator refrained from appealing a court’s ruling that said it did not have sufficient reason to block Grayscale from converting its flagship trust to an exchange-traded fund.

Note that Galaxy itself has filed for a Spot Bitcoin ETF in collaboration with Invesco. On CNBC’s “Squawk Box”, Novogratz said today:

Dialogue with SEC is heading in right direction. It is no longer talking how Bitcoin works. It’s just a recognised macro asset and that’s a huge psychological shift.

The billionaire investor expects a positive news on the ETF front to lead the market higher. Still, Barclays is not entirely convinced that it will be a material catalyst for Coinbase Global Inc.

Barclays analyst shares his view on Coinbase stock

Analyst Benjamin Budish told clients in a research note today on Wednesday that approval of a Spot Bitcoin ETF will likely be a “limited” benefit for Coinbase.

It is not clear how successful ETF launches would translate into a meaningful P&L benefit for Coinbase despite it being an integral service provider.

He agreed that the Nasdaq-listed firm will serve as custodian for four BTC exchange-traded funds (at least) but said it is unlikely to earn significant custodial and prime brokerage fees.

Barclays has an “underweight” rating on Coinbase stock with a price target of $70 that suggests another 6.0% downside from here. Earlier this week, Cathie Wood – the Founder of Ark Invest also took a positive tone on a Spot Bitcoin ETF approval.

The post Bitcoin ETF may be a ‘limited’ benefit for Coinbase stock: Barclays appeared first on CoinJournal.

Veröffentlicht am

Peter Schiff is wrong about Bitcoin

Peter Schiff, the Chief Market Strategist at Euro Pacific Asset Management, is one of the most respected people in finance. He has been right on so many things in the past, including the pace of interest rates, US government debt, and the ongoing risks in the market. I share most of his concerns.

One area I disagree with Schiff is on his Bitcoin outlook. For a long time, Schiff has advocated against Bitcoin, which he believes that has no value. Instead, Schiff, who also runs a gold company called Schiff Gold, has advocated for gold.

Gold has done well over years. It has moved from $35 in 1970s to almost $2,000 today and he expects it to continue soaring over the years. He cites the soaring government debt and the rising accumulation by central banks like those in Russia, Turkey, and Chiba.

While gold is a good asset, the reality is that it has not been a good investment in the past decade. Gold has jumped by almost 220% since November 2006 while the S&P 500 index has jumped by almost 400%. Including dividends, the index has done much better.

Bitcoin has also done better than gold by far. While BTC has dropped sharply from its all-time high, it has still beaten gold in the past few years. Bitcoin has risen by almost 400% in the past 5 years while gold is up by just 63%.

Peter Schiff argues that Bitcoin has no real value and that it is only bought by speculators. This is wrong. While there are many speculators in the crypto space, the reality is that many large investors have held it for years. MicroStrategy has held Bitcoin for three years now while the average holding period was over 3 years.

It is also worth noting that gold has no real use in the industrial space. Instead, many buyers do so because it is a store of value. This explains why gold is mostly bought by investors and central banks.

Events of the past few years are a good proof that Bitcoin is a real asset. For one, the coin survived the Mt. Gox collapse, the Covid-19 pandemic, and the current phase of stagflation. It is also surviving when interest rates have jumped to the highest level in 22 years. 

All this means that Bitcoin has real value, which explains why companies like Blackrock and Invesco are seeking to launch an ETF. In a statement this week, Blackrock’s CEO noted that the company was seeing strong demand from international investors.

How to buy Bitcoin

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

Buy BTC with eToro today

Skilling

Skilling is a regulated Forex and CFD broker that allows traders to access 800+ financial instruments, including 10 popular cryptocurrency CFDs with competitive pricing and fast execution time. Skilling offers a selection of trading platforms, including the proprietary Skilling Trader and popular, industry renown cTrader and MetaTrader 4 platforms, which can suit the needs of customers with different levels of trading experience.

Buy BTC with Skilling today

The post Peter Schiff is wrong about Bitcoin appeared first on CoinJournal.

Veröffentlicht am

Shiba Memu’s investment gold rush as the countdown to presale close begins

  • Shiba Memu presale is nearing its conclusion, with 13 days left.

  • The price of Shiba Memu has increased consistently each day on presale.

  • The value of Shiba Memu could be unlocked from post-listing liquidity in Q3 2023.

With millions raised in presale, investors hold high hopes for a new token sensation, Shiba Memu. The meme token has enjoyed a stellar presale, with daily price increases the icing on the cake. Now, FOMO could be gripping investors, as increased buying takes the presale to almost $4 million raised. The presale is on a 13-day countdown to close, after which the token could rise massively on the listing.

About Shiba Memu presale

Shiba Memu (SHMU) opened its presale in July, initially set to be an 8-week process. However, high demand and investor requests prompted the team to extend the presale by another 60 days. The extended presale concludes on October 31st, paving the way for the next step, listing.

Since launching the presale, Shiba Memu has generated value for its early backers. From an initial price of $0.011125, the token is now valued at $0.034750. The gains have been made possible by the project tokenomics. The tokenomics allow the Shiba Memu price to increase automatically daily at 6 PM GMT. The price is expected to rise further within the 13-day window to the end of the presale. 

Once the presale ends, Shiba Memu will be listed on major centralised exchanges. The team has earmarked the last quarter of 2023 as the time for listing. Debuting on the best exchanges is expected to unlock utility and facilitate the price discovery for Shiba Memu.

Why has Shiba Memu attracted such a high demand?

The speculative value of Shiba Memu is huge, considering the amounts raised in presale. This is one of the critical ingredients of meme cryptocurrencies, as their value is driven mainly by hype. However, Shiba Memu’s ability to convince investors of its market potential has got many talking.

Boosting cutting-edge AI technology, Shiba Memu aspires to be a leader in the meme sector. The project uses AI to self-promote on social forums and dominate online chatter. Shiba Memu can write its own social copy and marketing materials using AI. It then self-publishes the content across social media platforms to gain traction.

The AI and marketing prowess make Shiba Memu an ingenious and highly sustainable project. It doesn’t depend on temporary social media hypes to dominate. With this capability, Shiba Memu has been hailed as one of the most innovative meme projects. Investors also earn yields from staking, which lets them commit some tokens to the project’s growth.

Shiba Memu also taps into the power of a dedicated community to achieve success. The project team has allocated 85% of its 1,000,000 tokens in supply for the presale. Once the project is launched, Shiba Memu will engage its community through an AI dashboard. Users can channel their market insights into conversations through the dashboard. They can query the AI and get up-to-date answers on marketing strategies and advertising trends.

Is Shiba Memu worth buying in the presale?

Meme cryptocurrencies always generate FOMO due to the ability to return massively after listing. Reflecting on some of the top meme coins like PEPE, gains have exceeded 10,000%. Others, like meme leader Dogecoin, have hit a market cap that justifiably puts them on the top ten list. 

Shiba Memu carries the same potential owing to the early demand and investor enthusiasm. Investors could see a potential 10x gain or higher if the token replicates the returns of its meme peers.

Shiba Memu is only on a presale, and post-listing gains could be a little distant. The presale has 13 more days to run, with gains made each day. Investing in the presale is advantageous in maximising organic profits. Presale backers will also carry a better chance of riding an uptrend once the token is listed. 

The post Shiba Memu’s investment gold rush as the countdown to presale close begins appeared first on CoinJournal.

Veröffentlicht am

Memeinator leads a meme crypto revolution amid a 132% ROI on presale

  • Memeinator will return by 132% during its 29 presale stages

  • The project has utility in AI, staking, Web 3.0 gaming, and NFTs

  • Memeinator could replicate meme gains, with about a 1,000% surge in potential

What’s the future of meme cryptocurrencies? Undeniably, the meme coin sector has exponentially grown from a market cap of $0 in 2020. In August 2023, cumulative trading of meme tokens peaked at $36 billion. However, the meme sector has not been without controversies. Parody and fake projects have been a thorn to investors. Memeinator promises to clean the sector using cutting-edge AI technology. The project’s token has been on presale, with investors buying over $748,130 in less than 3 weeks.

Is Memeinator the best meme crypto project of 2023?

It is still too early to speculate whether Memeinator will be the best meme coin of 2023. However, there are suggestions it could be the most attractive project.

First, Memeinator is the first of its kind in the meme space. The project’s mission is to destroy pathetic and non-original memes. Memeinator relies on AI capabilities to crawl the web and find weak memes. The aim is to wipe them and only allow the strong ones to survive. The unique utility has made Memeinator the talk of the meme industry, gaining traction and fueling its presale.

Memeinator’s strengths also lie in its genius marketing activities. The team will invest heavily in branding to generate an online frenzy and boost the token’s price. The idea is to dominate the meme crypto space to reach a $1 billion market cap.

The tokenomics also position Memeinator as one of the most attractive tokens of 2023. By the end of a 29-stage presale, which kicked on September 27, the token’s value will have risen by 132%. Investors who bought at its initial $0.01 will be rewarded with tokens worth $0.0485. The return could be one of the highest in crypto at a time when the market is reeling from a bear market.

What factors will drive Memeinator’s price?

The most significant factor that could drive Memeinator price is the AI use. Analysts have earmarked AI as the next iteration, with blockchain as one of the key beneficiaries. Memeinator understands this transformation and is positioning itself for the future. 

Memeinator is also backed by a resistance community of like-minded users. The users, “meme killers,” are spread through the platform’s social pages. Within 20 minutes of the project’s site going live, over 5,000 people joined its Twitter and Telegram pages. Memeinator will bank on the community to hype the project and keep it on its toes to domination.

While the speculation on Memeinator will be a key price driver, future sustainability will depend on utility. To achieve this goal, Memeiantor has several projects lined up. One is a staking feature that will let the community allocate some tokens to the platform for a reward. Staking will unlock liquidity and protect MMTR from downsides when market dynamics are against it. 

Memeinator also gears to launch a game at the end of the presale. Like other Web 3.0 games, this will be crucial to keeping an engaged community and raising MMTR demand. There are also exclusive NFTs, initially for presale buyers, that will unlock MMTR value.

Should you buy Memeinator?

Memeinator carries considerable potential owing to its unique utility and use cases. After achieving a flying start, a gain of 1,000% shouldn’t be wished away. The gains reflect the momentums that meme cryptocurrencies have posted in the past.

Further surges in the price are possible as Memeinator gains worldwide recognition. The team plans to build a worldwide following and eyes listing on tier 1 exchanges. A global footprint will increase not only the speculative but also the utility value of Memeinator. The potential makes MMTR a worthy inclusion on investors’ bucket list.

The post Memeinator leads a meme crypto revolution amid a 132% ROI on presale appeared first on CoinJournal.

Veröffentlicht am

Yuga Labs shifts focus to metaverse project “Otherside” after restructuring

  • Yuga Labs restructures to prioritize “Otherside,” its metaverse project.
  • CEO Alegre highlights the importance of Otherside in Yuga Labs’ strategy.
  • The restructuring aims to secure Yuga Labs’ long-term success, focusing on employee welfare.

In a strategic move to adapt to the rapidly evolving landscape of non-fungible tokens (NFTs) and the metaverse, Yuga Labs, the creative force behind the widely popular Bored Ape Yacht Club (BAYC) NFTs, has successfully completed a comprehensive restructuring.

The company, led by CEO Daniel Alegre, is now gearing up to concentrate its efforts on the development of its metaverse project known as “Otherside.”

Prioritizing Otherside

Yuga Labs’ restructuring initiative, initiated in early October and officially confirmed on October 17, seeks to ensure the company’s longevity and relevance in the dynamic NFT industry. Under Alegre’s leadership, the company aims to refocus its teams and resources on the ambitious venture that is “Otherside.”

Creating an “immersive metaverse” platform, as described by Alegre, is a challenging endeavour that demands both technical and creative ingenuity. However, the Yuga Labs team is committed to the vision of Otherside. Alegre expressed his confidence in this metaverse project, stating, “Otherside is a very important bet for Yuga,” and that making it a centrepiece of their metaverse strategy was an obvious decision.

A coordinated restructuring effort and employee welfare

Yuga Labs co-founder Greg Solano initially disclosed the company’s restructuring on October 6, indicating that changes were necessary to ensure the company’s future success.

While the specific number of employees affected by the restructuring was not disclosed, Solano emphasized that Yuga Labs continues to operate with over 120 employees, focusing on its defined priorities.

In the midst of this transformation, Yuga Labs is actively addressing the well-being of departing team members. The company is providing a comprehensive transition package that includes generous severance, healthcare coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA), and assistance in finding new job opportunities. Alegre reiterated his commitment to treating those leaving the company with the respect and gratitude they deserve.

This strategic shift within Yuga Labs is not only reflective of the challenges in the NFT industry but also aligns with the broader trends in the metaverse space. As the company forges ahead with Otherside, its impact on the rapidly evolving metaverse landscape remains to be seen, making it a development of significant interest within the NFT and blockchain community.

The post Yuga Labs shifts focus to metaverse project “Otherside” after restructuring appeared first on CoinJournal.