Schlagwort: crypto business

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Crypto price outlook: Bitcoin, Maker, Shiba Memu

  • Bitcoin (BTC) and Ether (ETH) broke higher today, trading above $26,650 and $1,620.
  • Maker (MKR) hit a yearly high near $1,470 amid fresh buy pressure.
  • Meanwhile, Shiba Memu has raised over $3.3 million in its presale as SHMU price jumps to $0.030025. 

Cryptocurrency’s total market cap was up 1.3% on Wednesday morning, with the top coins Bitcoin (BTC) and Ether (ETH) breaking above $26,650 and $1,620 respectively.

The uptick in crypto prices came as the industry looked past SEC’s latest delay of a spot Bitcoin ETF and Chase Bank’s ban on crypto payments for its UK customers. Digital asset prices were also ticking higher as US futures rose after Tuesday’s brutal sell-off that saw the Dow Jones Industrial Average book its biggest single-day loss since March.

Here is the price prediction for Bitcoin (BTC) and Maker (MKR), and an overview of the new crypto project Shiba Memu (SHMU).

What is Shiba Memu?

Shiba Memu is the new kid on the block in the meme coin neighbourhood. Its a new project that sits at the intersection of crypto and artificial intelligence (AI), bringing a novel approach to market traction that’s so crucial to meme coin adoption.

Unlike most meme tokens that gain traction in the community thanks to human effort, Shiba Memu looks to leverage the power of AI to create a marketing powerhouse. AI will do all the heavy duty work needed to sustain interest in the coin, and reward holders of the native token SHMU for their input and feedback.

Learn more here.

Bitcoin price prediction

Bitcoin has not moved much in the past week, down 1.6% as of writing as investor jitters suppressed buyers amid the uncertainty that gripped the market after Fed’s recent “higher for longer” interest rates outlook.

With regulation still a big talking point, analysts have predicted a potential setback for bulls before prices steadily climb with a new bull cycle. In the short term, the upcoming $3 billion options expiry on September 29 could provide fresh fuel for downward pressure. At $26,770 at the time of writing, BTC suggests new attempts at the key $28,300 zone are possible. However, a flip in sentiment in the risk asset market could mean a retest of support around $25k. The $20k area is a target for the bears.

Maker price prediction

Maker has outperformed most top altcoins in the past week, with MKR up nearly 10% in the past 24 hours. The cryptocurrency is trading above $1,450, the highest price level in a year that came after a breakout above the key horizontal resistance line of $1,250.

Bullish indicators strewn all over the MKR charts suggest an upside to above $1,600 is possible. However, an unexpected turn of events resulting in downside momentum could mean retreat to support around $1,350.

Shiba Memu price prediction: Will SHMU reach $1 in 2024?

Shiba Memu does not trade in the secondary market yet, given the token is still in presale. However, with interest in this meme coin rocketing amid a broader optimism for the AI space, it is possible the price of SHMU could skyrocket when trading goes live on major exchanges.

At the moment, investors who bought Shiba Memu at the first stage presale price of $0.011125 have watched the value rise more than 169%. This is because of SHMU token price having jumped to $0.030025 as investors have poured over $3.3 million into this promising project.

What price factors could help Shiba Memu?

Shiba Memu’s roadmap highlights Q1, 2024 for the launch of its revolutionary AI dashboard, while strategic partnerships and ecosystem development will continue in the second quarter.

In Q3, 2024, Shiba Memu will explode on global exchanges, bringing demand for SHMU to a whole new level. If the coin lives to the hype that currently surrounds it, and mirrors explosive entries into the market such as seen with Pepe (PEPE) and other coins, the fourth quarter could be a great period for SHMU holders.

A final presale price of $0.0379 suggests upside momentum amid FOMO buying ahead of crypto’s expected bull market could quickly push SHMU to the $0.05 and then $0.1 levels. That could see targets at 50 cents and the $1 come into view.

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Bitcoin Cash price prediction as the crypto betting economy expands

  • Bitcoin Cash (BCH) remains resilient, trading at $231.43 from a recent low of $203.
  • The BCH price surge is pegged on Bitcoin’s performance and ETF hopes.
  • BCH’s technical analysis indicates a symmetrical triangle pattern, hinting at an imminent price move.

Cryptocurrency enthusiasts and investors are closely monitoring the price movements of Bitcoin Cash (BCH) as it continues to show resilience in a volatile market. Additionally, the blockchain-based social betting platform, Chancer, is making waves with its upcoming presale.

In this article, we will delve into the current state of BCH and explore the innovative features of Chancer, a revolutionary decentralized betting platform currently in its token presale phase.

Bitcoin Cash price analysis

Bitcoin Cash (BCH) has exhibited remarkable stability despite recent turmoil in the financial markets.

At press time, BCH was trading at $230.91, up 8.58% over the last 24 hours. This is a notable rebound from this month’s low of $180 and it has intrigued many investors, especially as traditional assets like stocks and bonds experience significant fluctuations.

Bitcoin Cash price chart

 

It’s essential to note that Bitcoin (BTC) plays a pivotal role in BCH’s performance. On that note, BTC has managed to maintain a price above $26,000, even as the market sentiment has shifted towards fear, with the fear and greed index plummeting to 34. The optimism surrounding the potential approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) has contributed to the buoyancy in Bitcoin’s price. If approved, this could pave the way for other cryptocurrencies, including BCH, to seek ETF applications.

However, there are looming risks in the crypto industry, with the Federal Reserve taking a hawkish stance due to stubbornly high inflation. Recent data indicates that inflation surged to 3.7% in August. Such macroeconomic factors can impact the broader cryptocurrency market, including BCH.

Bitcoin Cash price forecast

A technical analysis of BCH on the daily chart reveals an intriguing pattern: a symmetrical triangle. This pattern is characterized by two converging trend lines and typically indicates an imminent breakout or breakdown.

Currently, Bitcoin Cash (BCH) has positioned itself above both the 25-day and 50-day moving averages, which is seen as a positive sign. Additionally, it hovers around the 50% Fibonacci Retracement level, suggesting a balanced market sentiment. The Moving Average Convergence Divergence (MACD) has crossed above the neutral point, indicating bullish momentum.

In the event of a bullish breakout, the key resistance level to monitor is $240. On the flip side, the support level stands at $180. Traders and investors are closely eyeing these levels as BCH appears poised for a decisive price move.

CHANCER token offering an alternative to the likes of BCH

While BCH and BTC are common digital assets to most crypto investors, a new token namely CHANCER, is making waves as its presale hit $2,354,540.

One CHANCER token is currently going for $0.012 but is expected to rise to $0.013 in the next presale stage, which is a great proposition for those yearning to acquire the new gaming token.

How does Chancer work?

In the world of blockchain and cryptocurrency, innovation continues to drive the evolution of various industries. Chancer is an exciting project that exemplifies this spirit. This blockchain-based platform is dedicated to social betting, allowing users to create and participate in unique and imaginative bets.

Chancer encourages users to engage in social betting, where they can craft their bets and invite others to join in. This dynamic approach aims to transform traditional betting into a community-driven and interactive experience.

Chancer offers an array of betting opportunities, from predicting the winners of esports tournaments to speculating on whether a favourite band will release a new album. This diversity caters to a broad spectrum of interests, making it an inclusive platform for all.

The platform incorporates live streaming, enabling users to create bets and initiate live streams for others in the Chancer community to join. This real-time interaction enhances the overall betting experience.

Chancer operates on a decentralized and transparent blockchain, ensuring fairness and openness in all betting activities. Users can have confidence in the integrity of the platform.

Conclusion

As the cryptocurrency market remains dynamic, Bitcoin Cash (BCH) stands out with its recent price resilience. Technical analysis indicates that BCH could be on the verge of a significant price move, with $240 as a key resistance level to watch. However, macroeconomic factors, particularly the Federal Reserve’s monetary policy, introduce potential risks.

In parallel, Chancer’s innovative approach to social betting has captured the attention of the crypto community. With its focus on user engagement, diverse betting options, live streaming, and blockchain transparency, Chancer aims to revolutionize the world of betting.

Investors and enthusiasts alike are keeping a close eye on both Bitcoin Cash and Chancer, as they represent exciting opportunities and developments in the cryptocurrency space. It’s essential to conduct thorough research and stay informed to make informed decisions in this ever-evolving landscape.

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BREAKING: Binance exits Russia, sells business to CommEX

  • Binance fully exits Russia with sale of business to CommEX.
  • Transition will last a year, the exchange said in an announcement on Wednesday, September 27.

Binance has announced its exit from Russia, with its business sold to newly formed cryptocurrency exchange CommEX.

An announcement on Wednesday stated that the exit comes after an agreement that sees it sell “the entirety of its Russia business” to the CommEX team.

Binance fully exits Russian market

While it did not disclose any financial details, Binance noted in the announcement that the off-boarding process will last one year. 

According to Binance, its deal with CommEX is unlike others that international companies struck in the wake of Russia’s invasion of Ukraine and the launch of sanctions by EU and the US. It’s a full exit.

“Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,” the exchange wrote.

Binance, which has faced multiple regulatory hurdles including a US Department of Justice investigation around activities in Russia, has assured all customers in the country that their assets are safe.

“As we look toward the future, we recognise that operating in Russia is not compatible with Binance’s compliance strategy,” Binance’s chief compliance officer Noah Perlman said in a statement. He added:

“We remain confident in the long-term growth of the Web3 industry around the world and will focus our energy on the 100+ other countries in which we operate.”

Binance CEO Changpeng Zhao says the company will do everything to ensure a “smooth transition.”

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Nomura Bank’s Laser Digital receives approval for operations in Abu Dhabi

Key takeaways

  • Laser Digital has become the latest digital asset firm to receive approval to operate in Abu Dhabi.

  • The firm is owned by Japanese banking giant Nomura Bank. 

Laser Digital can now operate in Abu Dhabi

Laser Digital, the digital assets arm of Japan’s Nomura Bank, has received in-principal approval to provide broker-dealer services and asset/fund management services in Abu Dhabi.

The approval was granted by the Abu Dhabi Global Market (ADGM), allowing Laser Digital to offer numerous services to users in the region. 

This latest cryptocurrency news means that Laser Digital stands a chance to receive full Financial Services Permission to operate in the region upon meeting the conditions specified in the current approval. However, the conditions to be met were not specified in the announcement.

While commenting on this latest development, Laser Digital CEO Jez Mohideen said of the ADGM said;

“Their comprehensive and clear regulatory framework is creating a global hub for digital assets that we are delighted to be joining.”

The ADGM continues to attract more companies around the world as it is an international financial free zone within Abu Dhabi, the capital of the United Arab Emirates (UAE).

The financial free zone occupies nearly 15 square kilometres across two islands and comprises a registration authority, regulatory authority and a court. 

Crypto companies continue to gain approval in Abu Dhabi

Laser Digital’s approval comes roughly three weeks after Standard Chartered-backed Zodia Markets received its approval to serve as a crypto broker in Abu Dhabi.

In June last year, Binance received in-principal approval to operate in the ADGM. the cryptocurrency exchange also received Financial Services Permission in November. Other companies that have received ADGM approval include Kraken, UAE-based M2 and Bahrain-based Rain. 

Laser Digital’s approval came after the firm received an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). The firm also launched its Bitcoin Adoption Fund last month. 

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SEC delays decision on ARK Invest Bitcoin ETF

  • The SEC has delayed its decision on the ARK 21Shares Bitcoin ETF decision to early 2024.
  • Also delayed is the Global X Bitcoin Trust application.
  • Analysts expect the regulator to delay other proposals amid the likelihood of a US government shutdown.

The Securities and Exchange Commission (SEC) has yet again delayed a decision on the ARK 21Shares Bitcoin ETF application, pushing this to early 2024. The SEC also delayed the Global X Bitcoin Trust application to November 21.

News of the delays has elicited various reactions from the crypto industry, with many observing that the regulator will now likely delay all the other applications to next year. Bloomberg ETF analyst James Seyffart shared news of the SEC’s decision on X.

Other spot ETF applications could be delayed

In a filing detailing the delay, the SEC notes that it needs “sufficient time to consider the proposed rule change.”

But what’s notable about the Commission’s action is that the decision to delay has come much earlier than anticipated – this was not due until November 11. A host of other proposals, including those of BlackRock and Fidelity were due for a decision in mid-October, and the agency’s move appears to suggest they could postpone these too. 

“This may put the hammer down for any hopes of an ETF approval this year? If they went on Ark/21 shares already, we may see delays on all the other filings today too? BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity & Valkyrie [were] all due in mid Oct,” Seyffart opined in a post on X.

A looming US government shutdown makes the likelihood of this scenario unfolding highly possible. It’s one of the things SEC Chair Gary Gensler might have to elaborate on when he appears before the House Committee on Financial Services later today.

No spot Bitcoin ETF yet

The SEC’s notice came a few hours after a group of US lawmakers urged the regulator to “immediately” allow a spot bitcoin ETF. It follows last month’s delay on all the spot bitcoin ETF proposals, and a US court’s decision quashing the regulator’s rejection of the Grayscale Investments’ application to convert its Bitcoin Trust (GBTC) fund to a spot bitcoin ETF.

As CoinJournal highlighted here, August’s decision by the US Court of Appeals for the District of Columbia Circuit granted Grayscale’s petition for a review, with the SEC ordered to reconsider Grayscale’s application.  SEC had 45 days to seek an “en banc” appeal, which puts the deadline for such a move to October 13.

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