Schlagwort: blockchain markets

• Rocket Pool (RPL) price jumped more than 30% to break above $12.50 on Monday.
• The surge follows an announcement of support for RPL perpetual contracts on Binance Futures.

Rocket Pool (RPL) price rocketed as the crypto market reacted to the latest market news around the decentralised Ethereum (ETH) liquid staking protocol.

The staking feature allows ETH holders to tap into their holdings for a chance to earn yield. The staked Rocket Pool ETH token rETH allows users to stake and earn rewards with as little as 0.1 ETH.

Rocket Pool surges amid Binance listing

RPL rose sharply to highs of $12.58 across major digital asset exchanges after the world’s largest crypto exchange announced the listing of Rocket Pool perpetual futures contracts.

According to Binance, the launch USD-Margined RPL perpetual contract expands the trading options users have. Binance Futures is set to offer RPLUSDT contract starting from 12:30 UTC on September 9, 2024. Traders will have access to up to 75x leverage for the Rocket Pool futures, the exchange noted.

Earlier in the day, RPL price had struggled to below $10, with the last time the cryptocurrency traded above this level being a brief surge to $10.07 on Sept. 6. Gains in the past 24 hours have RPL price retesting a critical downtrend line.

As the chart above shows, a descending channel has been in place since the last week of August.

Rocket Pool’s price traded within the range since dropping from near $16 on Aug. 23. This negative outlook followed RPL’s decline from highs of $32 in mid-June.

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• Binance’s subsidiary in Indonesia, Tokocrypto, has acquired the key crypto asset trader license in the country.
• Tokocrypto obtained the license from the Commidity Futures Trading Regulatory Agency (Bappebti).
• Binance CEO Richard Teng says the exchange will continue to support the Indonesia-based subsidiary.

Binance subsidiary Tokocrypto has secured regulatory approval as a Physical Crypto Asset Trader (PFAK) from Indonesian regulator Commidity Futures Trading Regulatory Agency (Bappebti).

In an announcement on September 9, Tokocrypto revealed the milestone comes after a rigorous licensing process dating back to 2019 when the cryptocurrency exchange first received a nod as a Prospective Phyisical Crypto Asset Trader (CPFAK).

PFAK approval sees Tokocrypto become the third digital assets exchange in Indonesia to secure this crucial license.

“We are proud of this achievement to become the third exchange to receive PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers,” Yudhono Rawis, CEO of Tokocrypto, said.

Binance to support Tokocrypto further

The license also means that the platform now fully meets all regulatory requirements for crypto exchanges in Indonesia, Binance said in a blog post.

Commenting on the milestone, Binance CEO Richard Teng said approval means Tokocrypto has strengthened its standing as a crypto trading provider in Indonesia.

Binance, which acquired Tokocrypto in 2020, will also continue to support the exchange amid its quest to drive Web3 adoption in the region, Teng noted.

Congrats to @Tokocrypto, a part of the #Binance group, for securing a full license in Indonesia! 👏

Excited to continue supporting Tokocrypto in its mission to drive Web3 growth in the region.https://t.co/R9DhIFcO5b

— Richard Teng (@_RichardTeng) September 9, 2024

Tokocrypto’s growing market size has come as cryptocurrency benefits from a broader regulatory clarity in Indonesia.

While the government envisions a stricter framework for the sector, its largely positive approach is helping industry players. It’s this environment that has seen Tokocrypto grow its user base to over 4.5 million amid increase in monthly average volume – up 138% year-to-date.

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As major cryptocurrencies struggle, savvy investors know there’s an opportunity to buy low. While accumulating sats is undoubtedly a great move, the possibility of hitting a gem has traders and investors scouring the market.

Poodlana (POODL), a newly-launched cryptocurrency that captured the attention of meme enthusiasts and fashion-centric investors alike, stands out as one of the Solana meme coins that could offer a huge opportunity.

More on the project below.

Crypto losses and the likely opportunity

The current market pain isn’t the first time crypto traders are underwater on most positions. It’s also unlikely the last time many top projects will see a bounce to previous highs or surge to new highs.

What this means is that while most crypto assets continue to sink amid bearish pain, the long term view is that a recovery will happen. Bitcoin and Ethereum are top of analysts’ projections amid increased investor demand with the launch of spot exchange-traded funds. Other altcoins are also likely to bounce sharply if market conditions and catalysts align.

According to analysts at Santiment, this includes Toncoin – which has tanked 31% since news of Telegram CEO Pavel Durov’s arrest in France.  Per the Santiment analysis, traders looking for profitable deals may want to check out altcoins that have sun significantly. Such projects offer a relatively “less risky” buy opportunity.

This outlook also applies to new breakout coins, which might see a significant spike in buying activity once markets begin to rally.

What is Poodlana?

Poodlana (POODL) raised $8 million in a 30-day presale that went viral in Asia. After going live on Raydium within 60 minutes of presale closing, the project has quickly landed on crypto exchanges MEXC and BingX. POODL is also listed on CoinMarketCap and CoinGecko.

While these milestones are notable, what might set Poodlana apart from other meme coins on Solana? The potential to attract not just crypto traders, but the fashion-centric community is a plus for the new dog-themed meme coin.

As the crème de la crème of the meme fashion world, Poodlana has an upper hand over the other canine-themed tokens.

Does Poodlana offer a buying opportunity?

The advantages of having launched on the DEX and CEX platforms as indicated in the roadmap has added to community confidence. A lot of the meme coin attention is thus shifting from political tokens or PolitiFi to those with growth potential beyond the US election cycle.

Poodlana is seeing this outlook play out as the POODL token gains while most political tokens are down. If the project’s roadmap milestones such as partnerships with top industry platforms as well as in the fashion world pan out, it could be a foundation for further adoption.

Despite this bullish outlook, its worth noting that crypto and meme coins in particular are volatile and risky assets. Due diligence is always critical.

To learn more or have a glimpse into what Poodlana is, start here.

The post Poodlana investors eye more returns amid buying opportunity appeared first on CoinJournal.

• Mark Karpeles to launch EllipX crypto exchange in Europe.
• EllipX will comply with EU MiCA regulations, offering a crypto-only platform at launch.
• Former Mt. Gox users will get a 50% trading fee discount tied to NFTs as a goodwill gesture.

Mark Karpeles, the former CEO of the infamous Mt. Gox exchange, is set to launch a new cryptocurrency exchange, EllipX, this September in Poland.

The 39-year-old entrepreneur is determined to re-enter the crypto world with a platform designed to prioritize transparency, security, and user-friendliness, aiming to help newcomers navigate the complex world of digital assets.

According to a statement issued on X, Karpeles says that he is launching EllipX Exchange to “show that exchanges can be more secure and transparent.”

Mark Karpeles targets European users with EllipX

EllipX will initially serve European users, with plans to expand globally. The exchange will start as a crypto-only platform, with the potential to add banking and fiat services later.

Karpeles has emphasized that EllipX will fully comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), reflecting a strong commitment to regulatory adherence in an industry where compliance is often a contentious issue.

Karpeles plans to implement regular third-party audits and involve third-party clearing houses like BitGo to ensure secure and transparent transactions.

Notably, EllipX will compartmentalize its operations, drawing inspiration from the New York Stock Exchange’s structure. This innovative approach will see the exchange divided into different entities, with a broker side dealing with customers, a matching side handling trades, and a storage side responsible for storing crypto and fiat.

This structure aims to eliminate the opacity that often plagues smaller exchanges, distinguishing EllipX from its competitors.

50% discount on trading fees for former Mt. Gox users

In a bid to rebuild trust with those affected by the Mt. Gox collapse, Karpeles is offering a 50% discount on trading fees at EllipX for former Mt. Gox users.

This discount is tied to non-fungible tokens (NFTs), dubbed ‘MtGoxNFT,’ released for Mt. Gox users a few years ago. While only a small number of the million affected users have claimed these NFTs, Karpeles hopes this gesture will help him reconnect with the community.

Karpeles will serve as the Chief Technical Officer of EllipX, overseeing all technical aspects of the exchange which aims to aims to set a new standard for transparency and security.

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