Schlagwort: crypto business

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PEPE eyes bounce amid Binance.US listing, whale accumulation

  • PEPE is seeing increased whale accumulation as price bounces near key level.
  • The meme coin could explode amid further buy-side pressure as Binance.US lists token.

Pepe (PEPE) has recorded a notable increase in price amid bullish momentum. However, bulls could see another huge move as the surge in whale activity points to long term positioning.

Per market data, the meme coin’s holder composition had a net inflow of 580 billion PEPE and an outflow  of 534 billion PEPE on Dec.3. As the market trends indicate  Pepe whale accumulation, this outlook suggests a potential impact on price as buying pressure mounts.

PEPE whale activity

According to Lookonchain, PEPE whales continue to accumulate the meme coin. This comes even as some long term holders take profits.

While a whale deposited 356.2 billion tokens worth $7.3 million to Kraken, recording a return profit of 31x, others have quickly gobbled up the meme coins from the market.

Over the last 20 days, one whale went on an accumulation spree. Per Lookonchain data shared on X, the whale withdrew about 337 billion Pepe tokens worth nearly $7 million at the time from Binance. This happened as PEPE price jumped alongside the broader meme market. The sector is one of the few that rode the “Trump trade” narrative to record notable upticks.

According to IntoTheBlock data, Pepe has seen a decline in the number of large transactions by 3% in the past week. However, the number of addresses in profit has increased to 83%, with those out of the money at only 1%. Holders at the money currently count at over 54.8k addresses, or 15.6% of total holders.

Pepe price eyes bullish flip amid Binance listing

Binance.US will list PEPE for trading on Dec. 5. The news has coincided with a flip in the meme coin’s price. Here’s the exchange’s announcement.

In terms of price, PEPE has maintained a consolidation range of $0.00001919 – $0.00002109 in the past 24 hours. The token’s value has jumped 14% in the past week, 152% in the past month and over 1,500% in the past year.

The meme coin, which is the third largest in the market behind Shiba Inu and Dogecoin, has a market cap of $8.69 billion. The 24-hour trading volume has jumped 9% to over $4.2 billion.

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South Korea crypto volume hit record $34 billion: Here’s why

  • South Korea saw crypto trading volumes spike to $34 billion in 24 hours amid the president’s martial law order.
  • The unrest and political chaos catalysed a panic among crypto traders, pushing 24-hour volume to record highs.

South Korea’s brief martial law order saw the crypto trading volume in the country surge to its highest level ever with over $34 billion traded in 24 hours on Dec. 3.

President Yoon Suk-yeol declared an emergency curfew on Tuesday amid a wave of unrest, spooking traders as martial law came into effect.

This saw the leading cryptocurrency exchanges in the country register a massive surge in spot trading volume. Per market data sampling the top five exchanges in the country, trading volumes rose to more than $34 across Upbit, Bithumb, Coinone, Korbit and Gopax.

Why the martial law?

President Yoon Suk Yeol said the situation forced him to take that drastic measure of declaring emergency curfew due to the growing “anti-state” stance by the opposition.

He called their actions posing a threat to national security and freedom. Soldiers pouring onto the streets and chaos at parliament as lawmakers scrambled to undo the events with a vote is part of why panic hit traders.

Crypto price reaction

In the brief period that the curfew lasted, traders rushed to sell assets. The panic did not just lead to the significant surge in crypto trading volume, it also impacted the broader cryptocurrency market.

Bitcoin struggled further with the sell-wall below the $100k level and top altcoins shed recent gains. For instance, XRP pared gains from its latest high above $2.80 as prices retreated to lows of $2.40 before posting a slight recovery as of writing. Ethereum price also shed gains from highs above $3,732 to near $3,540.

President Yoon’s decision has since been reversed and heavily criticised, amid further political unrest. The martial law order could see the South Korean president impeached, observers say.

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Grayscale files for a Solana ETF: What does this mean for iDEGEN?

Key takeaways

  • On Tuesday, NYSE Arca filed a form on behalf of Grayscale Investments for a spot Solana ETF.
  • iDEGEN’s pre-market auction has surpassed the $2 million mark/

Grayscale files for a spot Solana ETF

NYSE Arca, the New York Stock Exchange’s exchange-traded product platform, filed a form for a spot Solana ETF on behalf of Grayscale Investments. The exchange filed a 19b-4 form on Tuesday for the Grayscale Solana Trust. This indicates that the firm wants the SEC to approve a rule change. 

Several companies, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, have filed with the SEC to list Solana ETFs.

What is iDEGEN?

The launch of spot Solana ETFs will benefit projects in the Solana ecosystem. One promising project on the blockchain is iDEGEN. This project focuses on the bulging AI and memecoin ecosystems. 

iDEGEN is a sentient degenerate AI memelord. According to the development team, iDEGEN learns, evolves, and adapts based on what the community feeds it on X. Basically, the tool is powered by AI, raised by degens.

It will launch as a memecoin thanks to the fast-growing nature of projects in this space. Meme coins have a combined market cap of over $45 billion and are expected to grow larger in the coming months and years. 

iDEGEN as a tool evolves via interactions on X. According to the development team, users feed the tool their data through tweets, tags, and comments. iDEGEN absorbs that post and adds it to its knowledge base; that’s how it learns.

Furthermore, iDEGEN posts on X every 60 minutes and can generate and post memes. The team pointed out that everything iDEGEN posts is driven by its AI and what it learns from its community, with no human intervention.

iDEGEN’s pre-market auction hits $2m

iDEGEN is currently undertaking a presale for its native token, $IDGN, to raise funds to finance its products and services. According to its official website, iDEGEN has raised over $2 million roughly a week after commencing the pre-market auction. 

According to the team, the pre-market auction leverages an unconventional method to attract more investors. iDEGEN’s presale price adjusts every five minutes based on market activity. If an investor purchases $IDGN tokens within five minutes, the price remains steady for the next period. However, if purchases occur consecutively, $IDGN’s price rises by 5%. Finally, if no one buys the tokens within five minutes, the price drops by 5%.

The pre-market auction will last until January 1, 2025, before the token lists on cryptocurrency exchanges.

Should you invest in the iDEGEN project?

iDEGEN is an interesting project that combines AI and meme coins. It could become one of the leading meme coin projects on the Solana blockchain.

According to the team,$IDGN has a live pre-market listing price on its website, allowing investors to accurately track the token’s progress ahead of its launch on trading platforms. 

Investing in iDEGEN during its presale could be an excellent opportunity for investors to buy the tokens at a discount before they list on major cryptocurrency exchanges.

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Crypto price predictions: HBAR, iDEGEN, Bitcoin


Bitcoin Price Holds Steady Amid a Probable US Selloff 

BTC/USD has been trading steadily above $90,000 for two weeks now; missing the all-important mark of $100,000 by less than 5 dollars on 22nd November. Even with the range-bound trading, the bullish trend persists. In fact, according to CoinMarketCap, greed continues to define the crypto market space. This week, the index is at an extreme greed level of 80 compared to last month’s neutral of 55. 

Even with the bullish trend, investors appear to be somewhat cautious. Bitcoin price has dropped by over 2% since the start of the weekend. 

As highlighted on sosovalue, BTC ETFs had daily net inflows of $353 million as of 2nd December. Of this number, BlackRock contributed $338 million with Grayscale and VanEck recording outflows of $28 million and $10 million respectively. 

The caution has further been heightened by the US government’s move to transfer Bitcoin worth $1.92 billion to a new address. While the intention is unclear, there are speculations over a possible selloff. In the recent past, countries like Bhutan and Germany have made huge selloffs of their BTC holdings. 

iDEGEN: The Viral AI Experiment Garners Over 100,000% in Gains Ahead of its Launch

In recent years, cat and dog-themed meme coins have redefined the crypto space. While they are still a crucial part of the market, there is a new widely-hyped entrant; AI meme coins. 

At the center of this buzz is iDEGEN, an advanced AI agent born on X and shaped by the cryptocurrency community. So intense is its hype that its auction has already raised over $1 million and yielded gains of over 100800% to the early adopters. Interestingly, it is still at the experiment stage.

As opposed to the usual presale, iDEGEN has chosen a different path; a dynamic auction. To start with, the total IDGN tokens are 11,111,111,111 with the auction being divided into 5-minute intervals.This means that every time there are consecutive buys within a span of 5 minutes, its price rises by 5%. If no bid is placed within two 5-minute periods, the price drops by 5%. 

At the end of the auction, IDGN launching price will be 10% higher than the final price at the auction. At that point, all unsold tokens will be destroyed.  

In addition to this pricing-based excitement, its freeness has further contributed to iDEGEN going viral. Unlike centralized companies like OpenAI, iDEGEN has no guard rails. In fact, the only applicable rule for this AI agent is that it has to post on Crypto Twitter(CT) after every 60 minutes. Between one post and the next, it internalizes the information availed to it by the crypto degens.

This is exactly what the savvy investors are banking on; securing some IDGN tokens before its value skyrockets. Different groups within the CT space will strive to control this AI agent. This push and pull is bound to intestify its virality with the investors being the ultimate beneficiaries. 

Besides, the program’s unconstrained nature means that it can evolve in different ways. This includes trading the existing assets or even creating its own. With this infinite potential, the market’s focus is set to remain on iDEGEN for a long time. You can buy the iDEGEN token here.

HBAR’s Surges to a 35-Month High Amid Heightened FOMO

Hedera Hashgraph

Hedera Hashgraph (HBAR) has been trading in the green for five consecutive weeks, hitting a level last recorded in January 2022 on 3rd December. Over the span of those five weeks, the crypto has been up by more than 700%. 

As at the time of writing, its market cap stood at $12.49 billion, up by 17%. Besides, its trading volumes were up by 61% over the past 24 hours at $7.55 billion.

The hype around this token has more traders fearing to miss out on a profitable opportunity. As a result, an increasing number of investors are accumulating the HBAR tokens. In fact, 

 

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Donald Trump selects pro-crypto Paul Atkins to be the next US SEC chair

  • Trump picks Paul Atkins, a pro-crypto libertarian, for the SEC chair role.
  • Atkins is expected to provide clearer crypto regulations.
  • Senate confirmation is needed, although Trump could pursue a recess appointment.

President-elect Donald Trump has selected Paul Atkins, a staunch advocate for the crypto industry, to serve as the next chair of the US Securities and Exchange Commission (SEC) once Gary Gensler steps down in January 2025.

This move marks a significant step in fulfilling Trump’s campaign promises to reshape the regulatory landscape for digital finance and bring clarity to cryptocurrency rules.

Atkins’s pro-crypto stance

Atkins, who served as an SEC commissioner under President George W. Bush, is well-known for his libertarian views and has earned respect within conservative legal circles.

Since leaving the SEC, Atkins has been an outspoken supporter of the crypto industry, particularly in his role as co-chair of the Token Alliance at the Digital Chamber of Commerce. In addition, Atkins has advised digital finance companies on regulatory compliance as the founder of Potomak Global Partners, a consultancy he established in 2009.

The crypto market expects a turnaround under Trump’s leadership

The selection of Atkins comes as Trump aims to provide clearer guidelines for the cryptocurrency market, which has long been frustrated by SEC chair Gary Gensler’s approach.

Under Gensler’s leadership, the SEC was criticized for pursuing enforcement actions against crypto companies without establishing clear regulatory frameworks. This led to widespread discontent within the crypto industry, with many calling for a more transparent and collaborative approach.

Gensler has, however, announced his resignation, effective January 20, when Trump is set to take office, creating room for fresh leadership at the SEC.

During his campaign rallies, Trump promised to make the US a “world capital” for crypto and has committed to replacing Gensler to help establish clearer rules for the industry. He also proposed the creation of an advisory council to focus on crypto policy and suggested a national Bitcoin strategic reserve.

The selection of Atkins signals a strong push towards crypto-friendly regulations, a move that is likely to be welcomed by the industry, especially after years of uncertainty.

Although there are reports that Atkins is reportedly reluctant to accept the role, attention now shifts to The Senate, which will be responsible for confirming or declining Atkins’ appointment, though Trump could choose to make a recess appointment if necessary.

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