Day: October 10, 2023

Billionaire hedge fund manager Paul Tudor Jones picks Bitcoin over stocks

Paul Tudor Jones expects a recession in the first quarter of 2024.
He also expects the Israel-Palestine war to make stocks less attractive.
Bitcoin has a history of doing well in the midst of political uncertainty.

Bitcoin is still down 13% versus its year-to-date high but Paul Tudor Jones remains bullish as ever on the world’s largest cryptocurrency.

Paul Tudor Jones expects BTC to do well in a recession

The billionaire hedge fund manager is constructive on Bitcoin primarily because he sees a recession ahead. The Founder of Tudor Investment also expects the Israel-Palestine war to make stocks less attractive.

Ongoing conflict in the Middle East has already claimed close to 2,000 lives. According to Paul Tudor Jones:

I think Bitcoin and Gold take on a larger percentage of your portfolio than historically they would because of a challenging political time in the U.S. and geopolitical situation.

Bitcoin has a history of performing well in the midst of political uncertainty – be it related to the Ukraine war or the recent elections in Turkey.

Why else is the billionaire constructive on Bitcoin?

On CNBC’s “Squawk Box”, Paul Tudor Jones said the inverted yield curve was a signal of a recession ahead that he believes will materialise in the first quarter of 2024.

The billionaire hedge fund manager first invested in Bitcoin at the start of the pandemic and holds some of it to date.

He’s bullish on the cryptocurrency also because of a decline in the U.S. fiscal position. At 122%, the debt-to-GDP in the United States is currently at its worse since the World War II.

Last month, U.S. lawmakers urged the Securities & Exchange Commission to “immediately” approve applications for a Spot Bitcoin ETF. Plus, total supply of the cryptocurrency is scheduled to halve in April of 2024. Both these events could translate to a rally in BTC as well.

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Monero (XMR) price forms a symmetrical triangle pattern

Monero price moved sideways in the past few days as the recent rally faded. The coin retreated to a low of $152.18, a few points below this week’s high of $157.16. It has risen by more than 12% from the lowest point in September. 

Monero, like other cryptocurrencies, are reacting to the ongoing war in Israel, which started on Saturday. The fear is that this war will push energy prices higher, forcing the Federal Reserve to continue hiking rates in the coming months. 

The price of Brent rose to $87.40 while West Texas Intermediate (WTI) soared to $85.60. Natural gas has also risen in the past few days. The next key catalyst for Monero and other cryptocurrencies will be the upcoming FOMC minutes scheduled for Wednesday.

These minutes will provide more information on the last meeting and provide more color on what to expect in the next meeting. The other important data to watch will be the upcoming US consumer price index (CPI) data. 

Economists expect the data to show that the country’s inflation jumped by 3.6% in September. Monero is also reacting to the falling US bond yields, with the 30-year yield falling to 4.8%.

Monero price forecast

The daily chart shows that the XMR crypto price has been in a tight range in the past few weeks. Along the way, the coin has formed a symmetrical triangle pattern, which is nearing its confluence level.

Monero has moved slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has drifted upwards. It has also risen slightly above the key resistance at $149.6, the highest point on August 22nd and September 15th.

Therefore, the outlook for the coin is neutral for now.  The key support and resistance levels to watch will be at $140 and $163. 

How to buy Monero

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

AVATrade

Ava Financial Ltd operates the AvaFX and AvaTrade forex brands and all business associated with them. The company has a branch office in Dublin, Ireland, which enabled it to get an operational license from the Irish authorities.

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Reserve Bank of Zimbabwe launches gold-backed digital token ZiG

RBZ has launched a gold-backed ZiG digital token to address currency instability and inflation.
ZiG offers a stable and versatile investment option, gaining investor interest.
Investors have purchased 350kg of gold through ZiG, signalling a shift from the US dollar.

The Reserve Bank of Zimbabwe (RBZ) has officially launched the Zimbabwe Gold (ZiG) digital token, backed by physical gold reserves, to address currency instability and rising inflation in the country.

Zimbabwe has grappled with currency instability and soaring inflation for over a decade. After hyperinflation rendered the local currency nearly worthless in 2009, the nation adopted the US dollar as its official currency. However, in 2019, Zimbabwe reintroduced its own currency, only to face renewed currency volatility.

ZiG: Gold-backed cryptocurrency

In April 2023, the RBZ introduced the concept of the Zimbabwe Gold (ZiG) digital token, underpinned by physical gold reserves held in the central bank. The primary objective of this initiative is to provide a stable and valuable investment avenue for local investors, encouraging them to shift their focus from the US dollar to national assets.

ZiG tokens can be stored in e-gold wallets or e-gold cards, offering a convenient and versatile payment method for users. These digital tokens are tradable for both peer-to-peer and business transactions.

Investors’ response

The RBZ reported that the value of ZiG tokens varies depending on the weight of the gold reserve, with options ranging from 0.1 ounce to 1 ounce. As of September 28, 2023, investors had purchased the equivalent of 17.65 kilograms of gold in ZiG, utilizing both Zimbabwean and American dollars. Approximately 350 kilograms of gold have been sold through this innovative digital token since its introduction.

The issuance of gold-backed digital tokens aims to expand the array of value-preserving instruments available in the Zimbabwean economy, enhance the divisibility of investment options, and increase accessibility for the general public.

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Der transformative Einfluss der Blockchain-Technologie auf iGaming

Die Blockchain-Technologie sorgt durch den Einsatz von Zufallszahlengeneratoren für faires Spielen.
Der globale Online-Glücksspielmarkt wurde im Jahr 2022 auf 63,53 Mrd. $ geschätzt.
Der Online-Glücksspielmarkt wird laut Daten von Statista im Jahr 2023 voraussichtlich 95,05 Mrd. $ erreichen.

Die Welt des Online-Gamings, oft als iGaming bezeichnet, hat dank der Integration der Blockchain-Technologie eine bemerkenswerte Entwicklung durchgemacht.

Die Blockchain-Technologie, die für ihren dezentralen Charakter gepriesen wird, hat Online-Transaktionen im iGaming-Sektor revolutioniert. Dieser Wandel beginnt mit der grundlegenden Umstellung von traditionellen Zahlungsmethoden auf Kryptowährungen, die das Spielen inklusiver als je zuvor gemacht hat.

Sichere Online-Transaktionen

Eine der Hauptstärken der Blockchain-Technologie ist ihre beispiellose Sicherheit. Finanztransaktionen, die auf der Blockchain durchgeführt werden, sind praktisch unempfindlich gegen Hacking, Abfangen oder Umgehen durch böswillige Akteure.

In der Welt des iGaming, in der finanziell viel auf dem Spiel steht, ist dies ein Game-Changer. Ein- und Auszahlungen sind nicht nur schnell, sondern auch immun gegen die Kontrolle traditioneller Bankinstitute. Dieses Sicherheitsniveau ist besonders attraktiv für Spieler, die makellose Kontoauszüge aufbewahren möchten.

Neben der Sicherheit fallen bei Blockchain-Transaktionen in der Regel nur minimale bis gar keine Gebühren an, insbesondere wenn Kryptowährungen verwendet werden. Traditionelle Zahlungsmethoden hingegen sind oft mit hohen Transaktionsgebühren verbunden. Diese kostensparende Funktion ist ein großer Segen für iGaming-Enthusiasten.

Anonymität

Die Privatsphäre der Spieler ist ein weiterer überzeugender Vorteil von Blockchain-gestützten Transaktionen. Bei der Verwendung von Kryptowährungen für Spiele müssen die Spieler keine sensiblen Informationen wie Passwörter, Codes oder OTPs mehr preisgeben, wie dies im traditionellen Bankwesen oft erforderlich ist. Das bedeutet, dass Sie weniger Risiken ausgesetzt sind, die von Betrügern und Betrügern ausgehen.

Darüber hinaus betonen Blockchain-Protokolle die Anonymität als Mittel, um Geldwäsche zu verhindern und die Finanzinformationen der Spieler zu schützen. Mit diesen Maßnahmen können die Spieler ihr Spielerlebnis beruhigt genießen, da sie wissen, dass ihre Identität und ihre Finanzen geschützt sind.

Transparenz und Fairplay

Die transparenzfördernden Funktionen der Blockchain haben auch in der iGaming-Branche unauslöschliche Spuren hinterlassen und stellen sicher, dass Fairness und Integrität gewahrt bleiben.

Im Mittelpunkt dieser Transformation steht die Smart-Contract-Funktion, die der Blockchain-Technologie innewohnt. Smart Contracts sind selbstausführende Vereinbarungen, die als Computerprogramme auf der Blockchain kodiert sind. Diese Verträge automatisieren Transaktionen auf der Grundlage vordefinierter Bedingungen und eliminieren so die Möglichkeit der Manipulation durch skrupellose Akteure.

Im Bereich des iGaming führt dies zu einem transparenten und manipulationssicheren System für Einzahlungen, Abhebungen und Auszahlungen. Die Aufzeichnungen werden akribisch geführt, wodurch das Potenzial für betrügerische Aktivitäten verringert wird. Die Spieler können die Fairness der Spielergebnisse unabhängig überprüfen und so sicherstellen, dass die Quoten nicht unfair gegen sie gestapelt werden.

Eine der vielleicht wichtigsten Auswirkungen der Blockchain im iGaming ist die Einführung von Fairness. Herkömmliche Online-Casinos bieten großartige Sportwetten-Möglichkeiten. Der berüchtigte “Hausvorteil” lässt die Spieler jedoch oft im Nachteil. Die Blockchain-Technologie, die von Zufallszahlengeneratoren (RNG) unterstützt wird, hat jedoch die Wettbewerbsbedingungen angeglichen.

Der RNG stellt sicher, dass die Ergebnisse von Spielen wie Video Poker, Spielautomaten, Blackjack und Roulette wirklich zufällig und daher fair sind.

Die Manipulationssicherheit der Blockchain-Technologie erstreckt sich auch auf Spielergebnisse, was es für Dritte extrem schwierig macht, die Ergebnisse zu manipulieren. Auch wenn sich einige Online-Casino-Plattformen nicht vollständig auf RNG verlassen, können Spieler die Fairness dieser Spiele dennoch durch externe Prüfer überprüfen.

Schlussfolgerung

Die Integration von Kryptowährungen und Blockchain-Technologie hat einen tiefgreifenden und positiven Einfluss auf die iGaming-Branche. Diese Transformation hat nicht nur die Sicherheit, den Datenschutz und die Transparenz verbessert, sondern auch eine neue Ära der Fairness im Glücksspiel eingeläutet.

Der Einsatz der Blockchain-Technologie hat es iGaming-Unternehmen ermöglicht, ihre Reichweite zu vergrößern und ein globales Publikum anzusprechen, wodurch die Einschränkungen herkömmlicher Zahlungsmethoden beseitigt werden. Infolgedessen können Spieler weltweit die Vorteile der Blockchain-Technologie genießen und ihre Spielerlebnisse sicherer, transparenter und lohnender als je zuvor gestalten. 

Der iGaming-Markt, der im Jahr 2022 auf 63,53 Milliarden US-Dollar geschätzt wurde, wird laut Daten von Statista im Jahr 2023 voraussichtlich 95,05 Milliarden US-Dollar erreichen  . Mit zunehmender Akzeptanz von Kryptowährungen und Blockchain wird erwartet, dass der Wert in den kommenden Jahren nur noch weiter steigen wird.

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Memeinator’s stage three presale nears completion: Should you buy now?

Key takeaways

Memeinator’s stage three presale will soon be over as the team has raised over $660k of the $693k required.

The influx of investors comes despite the current uncertainty in the broader crypto market.

The cryptocurrency market has been underperforming since the start of the week, with prices of most coins and tokens in the red zone. However, that hasn’t halted Memeinator’s presale as its stage three now nears competition. 

Bitcoin and other major altcoins underperform

Bitcoin, the world’s leading cryptocurrency by market cap, has been underperforming since the start of the week. It has lost 1% of its value over the last 24 hours and could record further losses. At press time, the price of Bitcoin stands at $27,695.

BTC has rejected the $28 level multiple times in recent days, and the ongoing geopolitical crisis in the Middle East is set to increase the market’s volatility in the short term.

What is Memeinator?

The market’s volatility hasn’t negatively affected Memeinator’s ongoing presale. Memeinator is an exciting Web3 project that is attracting interest from investors. The project seeks to take advantage of the meme coin movement to provide users with numerous utilities. 

Memeinator seeks to destroy worthless memes, ensuring that there is a higher level of quality content available to users. The crypto space comprises of thousands of meme token projects with no real-world utility. 

Memeinator is setting itself apart from the rest by offering users numerous utilities. The platform will leverage AI technology to identify worthless memes, allowing users to know them and steer clear of them. With the right level of adoption, the Memeinator team wants the token to reach a billion-dollar market cap. They have already published a detailed roadmap that shows how they intend to achieve their objectives. 

The Memeinator presale launched roughly a week ago, and it’s already in its third stage. In the first presale stage, the MMTR was sold for $0.01, but it has been increased to $0.0112 in the current stage. The price will rise to $0.0485 by the end of the presale, giving early investors a whopping 132% ROI at listing. 

The development team are also working on the Memeinator game, which will be launched once the presale comes to an end. 

Memeinator’s stage three presale nears completion

The Memeinator presale will round up its stage three less than two weeks after its launch. The team has so far raised over $660k and will achieve its target of $693k in the current round over the coming hours or days. 

Investors can buy the Memeinator token (MMTR) using ETH, USDT and USDC stablecoins. At the moment, the token is available to users on the Ethereum and BNChain blockchains. 

Purchasing the token is simple, as users only need to connect any of the supported wallets to the Memeinator website and buy the tokens using ETH, USDT and USDC coins. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale attracting investors?

The project’s real-world use case is one of the Memeinator continues to attract investors. MMTR is the native token of the ecosystem and will power several activities on the platform. 

With its product, Memeinator could gain massive adoption from degens, crypto natives, and speculators. Its use case goes even beyond the crypto space, as content creators could use its services to gain access to quality memes. 

Memeinator is set to use AI to analyse and evaluate memes across the internet, identifying lower-quality memes to replace or destroy them. The team has also put in place excellent tokenomics, which provides value for the holders and ecosystem participants. 

The MMTR has some excellent features, such as deflationary mechanisms and rewards for holders. The team has allocated 20% of the tokens for marketing, CEX listing and liquidity. 

Is the Memeinator a worthy investment opportunity? 

Memeinator could be an excellent meme project with the right level of adoption. If that happens, then early investors would be the biggest winners. Memeinator’s real-world use case makes it an exciting meme project. 

As a meme coin that is leveraging AI, Memeinator could provide excellent value to investors over the coming months and years. If Memeinator reaches a billion-dollar market cap, early investors would be the biggest winners. The meme token ecosystem continues to grow and recently reached an all-time high of $36 billion, up by the $0 the market was worth four years ago.

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Suspicious $1.6M NFT purchase raises money laundering concerns

Anonymous $1.6 million NFT purchase triggers the cryptocurrency community’s suspicions.
The previous sale at a much lower price raises questions of foul play.
Tornado Cash’s involvement adds to concerns due to its history of anonymizing transactions.

In a surprising turn of events, an anonymous user on the OpenSea marketplace recently purchased a CrypToadz non-fungible token (NFT) for an astonishing $1.6 million. The NFT, representing “a small, warty, amphibious creature,” is one of 6,969 units created by the pseudonymous digital artist Gremplin.

This purchase has triggered speculation within the cryptocurrency community, with some questioning the legitimacy of the transaction.

Unusual price surge

The CrypToadz NFT in question had a previous sale price of 0.95 ETH (approximately $1,600). However, it was acquired by an anonymous buyer for 1,055 Wrapped Ethereum (wETH), equivalent to $1.6 million, causing eyebrows to rise among market observers.

Oh geez this doesn’t look good. A Cryptoadz NFT sells for $1,660,000 (1,055 ETH).

There were $41,500 in fees paid to OpenSea which makes me think it was a fat-finger error.

The floor price for the Toadz is 0.5 ETH.

ht @gangnam_eth pic.twitter.com/h8bPTCj2la

— NFTstats.eth (@punk9059) October 9, 2023

The significant price difference between the two transactions has led to scepticism and suspicions of potential foul play.

Money laundering concerns

Adding to the intrigue, the purchase was made using a digital wallet that had previously been involved in a chain of transactions anonymized by the Ethereum coin mixing service known as Tornado Cash, which allows users to obscure the origin of their cryptocurrency holdings, making it challenging to trace the source of the funds involved in this high-value NFT transaction.

Tornado Cash has gained notoriety for its popularity among scammers seeking to launder funds. In August 2023, the United States Office of Foreign Assets Control (OFAC) imposed sanctions on Tornado Cash for its alleged involvement in laundering crime proceeds, although these sanctions did not completely halt the service’s usage.

The significant price difference in the CrypToadz NFT purchase coupled with the use of Tornado Cash for anonymization has cast a shadow of suspicion over the transaction. There are questions about whether the purchase of the CrypToadz NFT was a legitimate acquisition or part of a larger scheme to launder funds.

While the use of Tornado Cash in this transaction suggests a potential attempt to obfuscate the source of the funds involved, whether it was an innocent mistake or a more sinister attempt at money laundering remains to be seen.

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The transformative impact of blockchain technology on iGaming

Blockchain technology ensures fair gaming through the use of Random Number Generators.
The global online gambling market size was valued at $63.53bn in 2022.
The online gambling market is projected to reach $95.05bn in 2023 according to data by Statista.

The world of online gaming, often referred to as iGaming, has undergone a remarkable evolution thanks to the integration of blockchain technology.

Blockchain technology, hailed for its decentralized nature, has revolutionized online transactions in the iGaming sector. This transformation begins with the fundamental shift from traditional payment methods to cryptocurrencies, which has made gaming more inclusive than ever before.

Secure online transactions

One of the primary strengths of blockchain technology is its unparalleled security. Financial transactions conducted on the blockchain are virtually impervious to hacking, interception, or bypassing by malicious actors.

In the world of iGaming, where financial stakes are high, this is a game-changer. Deposits and withdrawals are not only swift but also immune to the control of traditional banking institutions. This level of security is particularly appealing to players who wish to maintain pristine bank statements.

In addition to security, blockchain transactions typically incur minimal to zero fees, especially when cryptocurrencies are used. Traditional payment methods, on the other hand, often involve hefty transaction fees. This cost-saving feature is a significant boon for iGaming enthusiasts.

Anonymity

The privacy of players is another compelling advantage of blockchain-powered transactions. When using cryptocurrencies for gaming, players no longer need to divulge sensitive information such as passwords, codes, or OTPs as is often required in traditional banking. This means less exposure to the risks posed by scammers and fraudsters.

Furthermore, blockchain protocols emphasize anonymity as a means to deter money laundering and safeguard players’ financial information. With these measures in place, players can enjoy their gaming experience with peace of mind, knowing their identity and finances are protected.

Transparency and fair play

Blockchain’s transparency-enhancing features have also left an indelible mark on the iGaming industry, ensuring that fairness and integrity are upheld.

At the heart of this transformation is the smart contract feature inherent to blockchain technology. Smart contracts are self-executing agreements encoded as computer programs on the blockchain. These contracts automate transactions based on predefined conditions, thus eliminating the possibility of tampering by unscrupulous actors.

In the realm of iGaming, this translates into a transparent and tamper-proof system for deposits, withdrawals, and payouts. Records are meticulously maintained, reducing the potential for fraudulent activities. Players can independently verify the fairness of game outcomes, assuring them that the odds are not unfairly stacked against them.

Perhaps one of the most significant impacts of blockchain in iGaming is the introduction of fairness. Conventional online casinos offer great sports betting opportunities. However, the notorious “house advantage” often leaves players at a disadvantage. However, blockchain technology, supported by Random Number Generators (RNG), has levelled the playing field.

The RNG ensures that the outcomes of games like video poker, slots, blackjack, and roulette are genuinely random and, therefore, fair.

The tamper-resistant nature of blockchain technology extends to gaming outcomes, making it extremely difficult for third parties to manipulate results. While some online Casino may not fully rely on RNG, players can still verify the fairness of these games through third-party auditors.

Conclusion

The integration of cryptocurrencies and blockchain technology has had a profound and positive impact on the iGaming industry. This transformation has not only enhanced security, privacy, and transparency but has also ushered in a new era of fairness in gaming.

The use of blockchain technology has allowed iGaming companies to expand their reach and cater to a global audience, eliminating the restrictions imposed by traditional payment methods. As a result, players worldwide can enjoy the benefits of blockchain technology, making their gaming experiences more secure, transparent, and rewarding than ever before. 

The iGaming market, which was valued at $63.53 billion in 2022 is projected to reach $95.05 billion in 2023 according to data by Statista. With increasing crypto and blockchain adoption, the value is only expected to grow further in the coming years.

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Bitcoin’s dominance level now above 50% as altcoins underperform

Key takeaways

Bitcoin’s market dominance now stands above 50% as Ether and other major altcoins underperform.

The broader crypto market is currently bearish due to the geopolitical uncertainty in the Middle East.

Bitcoin’s market dominance now stands at 50.3%

Bitcoin, the world’s leading cryptocurrency by market cap, has seen its market dominance increase in recent years. BTC’s market dominance now stands at 50.3%, a three-month high for the cryptocurrency.

This latest cryptocurrency news comes as Ether and other major cryptocurrencies have underperformed in recent days. Ether has seen its market dominance decline from 19% to around 17% over the last few months. 

Ether’s market dominance has been declining despite the Ethereum Merge upgrade going live a few months ago. Ether has underperformed compared to Bitcoin since Ethereum transitioned into a proof-of-stake protocol. 

Altcoins have been facing massive pressure from sellers in recent days. However, analysts believe that Bitcoin held its support above $27k.

If Bitcoin breaks past the $28k resistance level, it might rally above the $30k level in the near term.

Altcoins might face further selling pressure in the short term if the current trend is sustained. BNB and XRP have maintained their market dominance level of around 3% and 25%, respectively, over the past six months. 

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Ordswap loses control of its website, urges users to recover keys

Ordswap has experienced a security breach that has led to phishing risks for users’ private keys and assets.
An online tool has been introduced for MetaMask users to recover private keys.
The incident underscores security concerns in crypto.

In a recent crypto hack incident, Ordswap, a prominent marketplace for Bitcoin Ordinals, has fallen victim to a significant security breach that has made it lose control of its website. The platform’s website was compromised leading to potential risks for users.

Ordswap users were met with a distressing situation as the compromised website directed them to a phishing link. This deceptive link aimed to trick users into revealing their private keys and other sensitive information, posing a severe threat to their cryptocurrency assets.

Recovery tool introduced amid the chaos

In response to the security breach, Ordswap acted swiftly by providing an online tool designed to assist users who had logged into the platform through MetaMask.

Source for metamask users to obtain key is now available below. You are able to import(hex) to Unisat. https://t.co/oETb7h7sA0 https://t.co/NGaaLiNNwW

— Ordswap (@ordswap) October 10, 2023

This tool is meant to aid affected users in recovering their Ordswap private keys, allowing them to securely migrate their assets to other service providers.

Ordswap blames Netlify for the glitch

Ordswap placed the blame for the security incident on Netlify, a company specializing in website development and hosting services.

We are working on publishing source for metamask users to obtain their key if they have not already. The issue appears to be with Netlify, but we are still working through it. https://t.co/uYGxJkzGfj

— Ordswap (@ordswap) October 9, 2023

While the exact nature of the breach and its connection to Netlify remains under investigation, it highlights the vulnerabilities associated with relying on third-party service providers in the digital landscape.

Attempts to drain users’ crypto wallets

Users reported encountering a button on the compromised Ordswap website that attempted to drain their crypto wallets.

Be careful. I tried yesterday and the login with MM was a drainer. Sad. Hope you get control asap.

— $𝕚𝐑 𝐆𝔞DFŁ𝐘 ♛ (@Sir_Gadfly) October 9, 2023

This tactic, known as a wallet-draining scam, is increasingly employed by crypto scammers to illicitly siphon off digital assets. It serves as a stark reminder of the risks associated with interacting with cryptocurrency platforms.

Ordswap affirms user assets unaffected

Despite the security breach, an Ordswap team member on Discord claimed that user’s private keys and assets remained unaffected. However, users were cautioned that their security could be compromised if they continued to engage with the compromised website.

This incident underscores the critical importance of user security in the cryptocurrency space. Vigilance and caution are paramount, as phishing attempts and scams continue to target crypto enthusiasts. At the moment, the Ordswap team is actively working to regain control of its website and restore user confidence in the platform.

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Shiba Memu’s presale nears $3.7m: Should you invest in the project now?

Key takeaways

Shiba Memu’s presale is now close to the $3.7 million mark.

The cryptocurrency market is underperforming due to the ongoing geopolitical crisis in the Middle East.

The cryptocurrency market is off to a rocky start this week, with the prices of most cryptocurrencies down by more than 1%. Despite the current bearish situation, Shiba Memu’s presale continues to hit new milestones.

Bitcoin dips towards 27,500

Bitcoin, the world’s leading cryptocurrency by market cap, has lost 1% of its value over the past 24 hours. At press time, the price of Bitcoin stands at $27,590 per coin. The bearish performance so far this week comes following a geopolitical crisis between Israel and Palestine.

The total cryptocurrency market cap has also dropped to the $1.07 trillion mark. Market analysts expect further volatility in the cryptocurrency market over the coming days. 

What is Shiba Memu?

The ongoing volatility in the crypto market hasn’t dampened interest in Shiba Memu’s presale. The project is now approaching an important milestone and could be achieved in the coming days. 

Shiba Memu is a meme token project that seeks to ease the way people and organisations handle marketing campaigns. The project is leveraging the powers of blockchain and AI technologies to offer real-world value to users. 

At the moment, Shiba Memu is still in its presale stage. However, investors have pledged millions of dollars to the project. The stage two presale has now raised nearly $3.7 million. 

The team explained that it would use blockchain and AI to develop an unstoppable, entirely self-sufficient marketing powerhouse. With Shiba Memu, users can carry out a wide range of marketing activities. 

Shiba Memu will also operate 24/7, thanks to its use of AI. The technology will work all the time to identify ideal creative scenarios and develop excellent marketing campaigns for users.

Its launch as a meme project comes following the rise in the popularity of meme coins over the last three years. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $32 billion in 2023. 

Shiba Memu differs from thousands of other meme projects thanks to the fact that it offers real-world use cases. When using Shiba Memu, the AI helps users develop their marketing strategies, write their PRs, and promote their services and products on relevant forums and various social media platforms.   At the moment, Shiba Memu operates on BNBChain and Ethereum.

Shiba Memu’s presale nears $3.7 million

The cryptocurrency market has been bearish since the start of the week, but the investment in Shiba Memu continues to grow. The project is currently in its stage two presale and has raised $3.692 million so far. At this rate, Shiba Memu could hit the $4 million mark soon.

With the funds obtained from the presale, Shiba Memu will develop its AI technology and a suite of other products. 

Click here to find out more about Shiba Memu’s presale event. 

Should you invest in Shiba Memu right away?

The decision to invest in a project lies with the investor. However, investors should carry out in-depth research about a project before investing in them. Shiba Memu has proven to be a unique meme project and could gain massive adoption in the near term. 

Shiba Memu will help users to handle marketing campaigns with ease. Shiba Memu’s SHMU token could rally higher in the coming months and years once it gets listed on exchanges and gets the right level of adoption.

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