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Litecoin eyes the $70 mark as Chancer’s stage two presale nears $2m

Key takeaways

  • Litecoin is one of the best performers among the top 20 cryptocurrencies by market cap over the last seven days.

  • Chancer’s stage two presale is closing in on the $2m mark as more investors enter the project.

The cryptocurrency market has been performing well over the last few days. LTC, the native coin of the Litecoin blockchain, is one of the best performers, adding more than 10% to its value over the past seven days.  

Chancer’s presale continues to gather steam, with nearly $2 million raised in the second round of the presale. 

Litecoin eyes the $70 mark

Bulls have been in control of the cryptocurrency market over the past few days. The prices of most coins and tokens are trading in the green zone. Litecoin’s LTC is one of the best performers amongst the top 20 cryptocurrencies by market cap.

The coin has added 12% to its value over the last seven days, outperforming other major cryptocurrencies, including Bitcoin, Ether, Polkadot, Solana, Cardano, and XRP.

At press time, the price of Litecoin stands at $$67 and could reach the $70 mark if the bulls remain in control of the market. 

What is Chancer?

As the broader crypto market continues to rally higher, some presale projects continue to set new records. Chancer is one of the presales that continues to perform well.

Chancer is a Web3 project designed to decentralise the betting ecosystem. The team is developing a web3 peer-to-peer (P2P) custom betting platform that allows users to place bets on a wide range of events, including custom-made ones. 

In addition to being a blockchain project, users can live-stream bets on the Chancer platform to ensure maximum transparency. Chancer seeks to improve the current services offered by traditional sports and casino betting platforms. 

The platform would eliminate some of the restrictions regarding events users can bet on. Chancer users can bet on any event, even ones they make up themselves. 

At the moment, Chancer is still in its presale stage and has raised millions of dollars so far. The funds from the numerous presale rounds would be used in building Chancer’s decentralised P2P betting platform. 

The Chancer platform will have some exciting features, including betting markets in real-time and based on user interests, social media connections, and expertise. Furtehrmore, hancer users can launch custom P2P betting markets, allowing other users to bet on their events and games. 

Chancer’s second presale closes in on $2 million

The Chancer team wants to raise $2.5 million from its second presale stage and has so far raised $1.99 million. 

The team revealed that there would be 12 presale events, with a combined target of $15 million. In this current presale stage, CHANCER, the native token of the ecosystem, is sold for $0.011 per token, with the price set to increase to $0.012 in the third presale round.

CHANCER will power several activities in the Chancer ecosystem. With the token, users can create custom P2P betting events on the platform and can also bet on markets created by others. 

Currently, CHANCER is not listed on crypto exchanges. The token can be purchased via the official Chancer website. Purchasing CHANCER tokens is easy as it requires investors to simply connect any supported wallets to the presale link. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

Visit the Chancer website to get more information about the presale. 

Should you buy CHANCER tokens today?

The presale stage is usually the best time to invest in a Web3 project. At the moment, CHANCER is going for $0.011, and its price will increase to $0.012 in the third presale stage.

Investors who invested in projects during the presale stage have historically made more profits than those who came in later on. This is because, during the presale stage, the tokens can only be purchased by a limited number of investors.

Chancer could become an interesting project if it gains the right level of adoption. Millions of people could be interested in the decentralized betting ecosystem, and Chancer could be a leader in this sector. 

The post Litecoin eyes the $70 mark as Chancer’s stage two presale nears $2m appeared first on CoinJournal.

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Bitcoin bounces from support ahead of the Fed’s decision

  • Bitcoin found support at $25k (again)
  • YTD performance remains impressive
  • A dovish Fed may trigger even more strength

Cryptocurrency investors may have been disappointed by the lack of volatility during the summer months—after all, Bitcoin, the leading cryptocurrency, only consolidated levels. 

But one should keep in mind that Bitcoin rallied strongly in 2023. It returned over 61% in the trading year, and the bias remains bullish. 

The bullish perspective is even more obvious if one looks at the yearly returns of Bitcoin. Since 2010, only in three years did Bitcoin deliver negative returns. 

Buying the dip seems to have worked every time, even though the dips were quite scary. 

Will the Fed’s decision boost Bitcoin?

Tomorrow, the Federal Reserve of the United States (Fed) is expected to hold the funds rate steady. As always, the details in the FOMC Statement and the press conference will move markets. 

Higher inflation than the Fed’s target was the main cause of rising interest rates. Now that inflation comes down from its highest levels, the Fed may feel comfortable that it will reach the target in a timely manner. 

Therefore, a dovish Fed would trigger weakness in the US dollar and strength for Bitcoin. 

The technical picture also favors more Bitcoin strength. The market bounced twice from $25k and now trades above $27k. A dovish Fed would send Bitcoin back to the $30k resistance area with big chances to move even higher. 

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Shiba Memu, Hifi finance, and Bitcoin price prediction

  • $26,500 level holds the potential to serve as a pivotal point for Bitcoin price.
  • According to market analysts, Hifi Finance could hit the highest price of $1.0.
  • At press time, one Shiba Memu (SHMU) coin was going for 0.028225 USDT.

The crypto market is once again on a bull cycle after a brief bear market that saw Bitcoin briefly drop below $25,000. As the crypto market rallies a number of cryptocurrencies among them Hifi Finance, Bitcoin, and Shiba Memu are trending.

Shiba Memu, a new cryptocurrency project is riding the meme coins and artificial intelligence wave. Alhough its first target is to contend the top position among meme coins, the coin will most likely be among the top cryptocurrencies by the end of 2023 going by the way investors are trooping to the project.

Shiba Memu is currently in the presale phase and it has already raised $2,931,352.80. Besides using AI to market itself, the price of Shiba Memu (SHMU) beeps adjusting upwards every few hours, which could be a great proposition for investors.

Bitcoin price prediction

Upon conducting a thorough technical analysis of Bitcoin’s current position, it reveals a prudent inclination towards a bearish trend. At present, Bitcoin finds itself positioned slightly above the $26,500 support level, which was once a formidable resistance. It maintains a relatively stable position just above the $26,800 resistance, indicative of a potential formation of a double-top pattern.

Bitcoin price chart

An important feature to note is the presence of a descending trend line at approximately $26,750, which could act as a restraining factor for Bitcoin’s upward trajectory. Should Bitcoin manage to breach this trend line, it may set its sights on the $27,000 level. Beyond this threshold, the $27,600 level looms as a significant resistance, and surpassing it could potentially open the path towards the coveted $28,000 milestone.

Conversely, if Bitcoin fails to overcome the $26,750 trend line, it might retrace its steps towards $26,600 or, in a more bearish scenario, revisit the $26,000 support level. Such a retracement could trigger heightened selling pressure, potentially leading to a decline in price to around $25,250.

Importantly, various technical indicators, including the 50-day exponential moving average and the relative strength index, signal the possibility of a forthcoming bullish momentum. Investors should maintain a vigilant watch on the $26,500 level, as it holds the potential to serve as a pivotal point. Prices surpassing this level could indicate favorable buying signals, while prices below it might suggest a tendency towards sell signals.

Looking ahead to the upcoming week, several pivotal economic events are poised to exert influence on Bitcoin’s price dynamics, given the cryptocurrency’s correlation with macroeconomic factors. On Wednesday, September 20th, all eyes will be on the Federal Reserve as it releases its Federal Funds Rate, which is presently set at 5.50%. Simultaneously, market observers will eagerly anticipate the FOMC Economic Projections, FOMC Statement, and the ensuing FOMC Press Conference scheduled for 18:30. The stance adopted by the Federal Reserve, whether dovish or hawkish, can potentially trigger significant volatility in traditional markets, a phenomenon that often cascades into the cryptocurrency market.

Moving to Thursday, September 21st, this day will bring forth Unemployment Claims data, with analysts predicting a slight increase to 222,000 from the previous figure of 220,000.

Concluding the week on Friday, September 22nd, we will witness the release of the Flash Manufacturing PMI and Flash Services PMI, projected to be at 47.9 and 50.8, respectively. These indices offer valuable insights into the overall economic health and, if they deviate significantly from expectations, they can indirectly influence Bitcoin’s price by affecting market sentiment.

Hifi finance price prediction

Hifi Finance (HIFI) experienced a sharp decline in price following an impressive seven-day rally that had long been anticipated by token holders, ending a period of extended consolidation. This surge and subsequent drop occurred while Bitcoin (BTC) prices remained relatively stable, leaving the broader market yearning for a catalyst. In the midst of this, analysts suggest that the current environment is conducive for investing in alternative cryptocurrencies (altcoins).

Hifi Finance’s price exhibited substantial volatility during this period. Over the past week, Hifi Finance (HIFI) witnessed an astounding 362% surge against the Tether (USDT) stablecoin on the Binance Exchange, concluding the trading session on September 16 at $2.320. This surge followed its breach of the psychologically significant $2.5000 level, reaching an intraday peak of $2.635.

The sudden rise in Hifi Finance’s price was closely linked to a significant surge in trading volume on the Korean exchange Upbit. Upbit Korea accounted for approximately 65% of the total trading volume for the asset on that Saturday, with Wu Blockchain reporting a remarkable 208% increase in trading volume. It was noted that Upbit led the way in spot trading, accumulating up to $717 million in trading volume over the previous 24 hours. However, the price experienced a substantial decline of around 40% within the last day, triggered by Binance’s introduction of the HIFI perpetual contract.

Notably, there was a noteworthy discrepancy between the prices of HIFI in the futures market and the spot market. HIFI futures were trading at a -40% premium compared to spot prices, a rare and perplexing phenomenon that raises concerns about the dynamics of Hifi Finance’s price.

A perpetual contract, similar to a futures contract, is a derivative instrument but lacks an expiration date. It represents an agreement between two parties to buy or sell an asset at a fixed price without a specified expiry date. This allows traders to speculate on the asset’s value using leverage without the need to worry about their contracts expiring. While perpetual contracts offer the potential for amplified profits, they also carry the risk of rapid liquidation of traders’ positions if the asset’s price experiences a significant drop.

The decline in HIFI’s price on Binance following the introduction of the perpetual contract can be attributed to several factors. Perpetual contracts provide increased liquidity, tighter spreads, and resistance to market manipulation, making them an attractive choice. It’s worth noting that Korean traders have been associated with pump-and-dump practices in the past. CryptoQuant CEO Ki Young Ju pointed out that this behavior may be influenced by the region’s strict capital controls, which limit arbitrage opportunities between global exchanges.

The post Shiba Memu, Hifi finance, and Bitcoin price prediction appeared first on CoinJournal.

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US court denies SEC request to look into Binance US

  • A US District Judge has rejected SEC’s request for an inspection of Binance US documents.
  • Binance US stood firm on its stance calling the regulatory watchdog’s request “overboard”.
  • SEC’s request sought access to documentation and communication with the exchange’s custodial service providers.

Binance US, the American branch of the world’s largest cryptocurrency exchange, Binance, achieved a significant victory today amidst ongoing scrutiny. The exchange has been under intense scrutiny ever since the US Securities and Exchange Commission (SEC) initiated a lawsuit against it. This situation led to a decline in trading volume and the departure of key executives from the company.

The SEC’s request for an investigation into the exchange, was denied earlier today by the court.

What is the SEC investigating Binance US for?

The SEC’s argument hinged on the assertion that Ceffu, a custody platform, was, in reality, an entity associated with Binance. Furthermore, the SEC alleged that this entity was employed to transfer funds of US customers out of the country, thereby violating a prior agreement between Binance US and the SEC. The commission specifically sought access to the exchange’s records and communications with its wallet custody service providers. According to a tweet from Adam Cochran, the SEC’s filing stated:

“However, even with this limited discovery, it has become apparent that Binance U.S. (referred to as “BAM”) has not provided a credible explanation for its crypto asset wallet custody arrangements. Furthermore, Binance Holdings Limited (“BHL” or “Binance”) and its alleged relationship with a Binance-affiliated entity named ‘Ceffu’ regarding the custody of Customer Assets have continued to be a source of conflicting information provided to the SEC.”

In response to these developments, the cryptocurrency exchange argued that the SEC’s request was overly intrusive and burdensome.

Ultimately, US District Judge Zia Faruqui rejected the SEC’s request for an inspection. However, the court required Binance US to furnish additional documentation and expressed doubts about the exchange’s ability to maintain control over its assets.

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Chancer presale at the $2M mark as expectations of Fed’s rate pause boosts Bitcoin

  • Chancer has raised $1.99 million in a presale

  • The presale could benefit from improved crypto sentiment as BTC recovers to $27K

  • Chancer carries a more than 10x gain in the future.

Chancer has raised over $1.99 million in a presale welcoming the first decentralised betting platform. With betting one of the fastest-growing sectors, the prospect of taking it to blockchain has excited investors. This comes when cryptocurrencies undergo consolidations following market turbulence. Bitcoin has recovered above $27,000, giving hopes of a potential resurgence. The cryptocurrency had previously slipped to below $25,000. The recoveries in the leading crypto could boost the sentiment for risk-on assets, benefiting Chancer. 

Why Bitcoin is rising this week

Bitcoin is up more than 7% over the past week, thanks to improving market sentiment. The sentiment reflects expectations that the Fed will pause rate hikes during the September 20 meeting.

Investors have based their expectations on the September 13 inflation, which showed cooling prices. Although the consumer price index increased 3.7% in August from 3.5% in July, the annual core CPI dropped. The core CPI, which measures inflation less volatile food and energy, increased 4.3% from the previous 4.5%.

The falling prices provide hope that the US is headed for the Fed’s target inflation rate of 2%. This could provide the impetus for the US central bank to pause rates. A less hawkish Fed is considered positive for risk-on assets, which could boost Bitcoin and altcoins. 

The role of Chancer in the crypto ecosystem

Chancer is a revolutionary blockchain that aims to change how betting occurs. Presently, betting is conducted on centralised marketplaces. The bookmakers or owners of such marketplaces determine the betting events.

With Chancer, the role of intermediaries in betting is eliminated. Betting occurs in a virtual blockchain ecosystem, which is in the hands of the users. In other words, users create peer-to-peer betting markets and set their own rules and odds.

Wagers invite friends, family, acquaintances, and fans to their betting market. They can also join P2P markets created by others and participate in blockchain-based prediction. 

Chancer carries a lot of flexibility as users can create P2P markets from multiple events. Users can create a Chancer market, from mainstream betting events to social activities. The ability to develop a P2P market from almost any event expands the scope of betting. This allows Chancer to grow and capture a considerable market niche in the fast-growing betting sector. 

What is Chancer token, and what value does it carry

Chancer token or $CHANCER is the token that will run the blockchain P2P betting platform. Users get rewarded with the token for successful winnings and predictions.

CHANCER derives value from the popularity of the Chancer ecosystem. The more users join and participate in P2P betting, the more the token’s demand and price are unlocked. The prospect makes CHANCER an exciting token since betting is a demanded service. 

Chancer token isn’t restricted to betting only. Users are rewarded with the token for creating the P2P betting markets. The aim is to incentivise more users to engage in market-making activities and grow the platform. Market-making rewards make a substantial investment case for Chancer beyond betting. 

Staking will also be a passive income-generating strategy for Chancer users. Users can stake the native token to facilitate the platform’s growth and earn yields. For sustainability, users get discounted fees when they create or join P2P markets. Additional rewards are earned by sharing the Chancer platform. 

Chancer price prediction in 2023 and 2024

Chancer gears for listing on Uniswap and other CEXs in Q3 2023. The price could start to pick up when the token is available on exchanges. Investors have earmarked up to a 1,000% increase for the token when listed. 

In this prediction, a prudential 100% or more is preferable as a sustainable price gain. The forecast is based on the fact that the Chancer platform will launch later in Q4 2023 and early 2024. 

A 10x increase is preferred in 2024 when Chancer’s demand stems from the use of its platform. In the long term, gains could exceed the 10x estimates as Chancer attracts more usage.

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