Day: October 16, 2023

Bitcoin vs Gold: Bernstein analyst Gautam Chhugani picks a side

Bernstein analyst says Bitcoin is more attractive than gold.
Gautam Chhugani explained why in a research note today.
Bitcoin is currently down about 10% versus its YTD high.

Gold has a history of doing well in a recession – but this time Bitcoin is an even better investment, as per a Bernstein analyst.

Bitcoin has a history of outperforming gold

Gautam Chhugani continues to see the world’s largest cryptocurrency as the ‘safe haven’ since it has performed about five times better than gold since 2018.

At 1.8%, he agreed that Bitcoin inflation is comparable to gold inflation for now but said “skeptics miss that every four years, [the former’s] inflation halves”.

The total supply of Bitcoin is scheduled to halve in May of 2024. Historically, that event has resulted in significant price appreciation.

Last week, billionaire hedge fund manager Paul Tudor Jones also said Bitcoin was a better investment than stocks in the current environment (read more).

Spot Bitcoin ETF will unlock significant demand

Gautam Chhugani is convinced that capital will flow into Bitcoin further as fears of recession continue to swell.

The Bernstein analyst dubs the cryptocurrency a better investment than gold also because it is at a “fairly early stage of institutional adoption”. Significant demand will unlock once the Securities & Exchange Commission approves the first U.S. Spot Bitcoin ETF, he added.

Bitcoin currently has a market cap that’s not even 5.0% versus that of Gold.

BTC soared materially this morning following a report that the regulator has approved iShares Spot Bitcoin ETF. But the news was later confirmed as fake and resulted in a sharp pullback that brought Bitcoin back to around the $28,000 level.

The post Bitcoin vs Gold: Bernstein analyst Gautam Chhugani picks a side appeared first on CoinJournal.

Bitcoin SV (BSV), Bitcoin Cash (BCH) Pops as BTC ETF Hopes Rise

Bitcoin SV and Bitcoin Cash prices were among the top-performing currencies on Monday as a sense of hope returned in the crypto market. BSV jumped by more than 13% to $38.27 while Bitcoin Cash jumped to $228.64. Other top-performing cryptocurrencies were Solana and Stacks.

The main catalyst for the rally was the ongoing hopes that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF. These hopes were amplified by the decision by the SEC to move on without appealing the Grayscale lawsuit.

BCH and BSV prices jumped after a false report by Cointelegraph suggested that the SEC had expected iShares Bitcoin Trust. That report pushed Bitcoin to almost $30,000 and then it retreated shortly afterwards.

Bitcoin Cash and Bitcoin SV also jumped as a sense of optimism continued in the market. Move was exemplified by the strong performance of American equities. The Nasdaq 100 index jumped by more than 1.10% while the S&P 500 and Dow Jones jumped by over 1%. Historically, cryptocurrencies tend to do well when stocks are rising.

Still, the risk for BSV and BCH is that it is still too early to determine whether the SEC will approve Bitcoin ETF. If it does, these coins will rise because it will raise the possibility of companies filing for their separate ETFs.

The other risk for these cryptocurrencies is that inflation expectations have been rising in the past few weeks. The implication is that the Fed will maintain a hawksh tone in the coming months. 

The post Bitcoin SV (BSV), Bitcoin Cash (BCH) Pops as BTC ETF Hopes Rise appeared first on CoinJournal.

Fake spot Bitcoin ETF approval news pushes BTC to $30k

Bitcoin spikes to highs of $30k amid fake spot ETF news.
BlackRock has confirmed its spot Bitcoin ETF application remains under review.
Over $130 million shorts were liquidated as the price of Bitcoin shot to near $30k on Monday

A relatively quiet crypto market sparked into a frenzy for a few minutes on Monday as news spread that the Securities and Exchange Commission (SEC) had approved the first Bitcoin ETF.

Bitcoin price soared more than 10% within no time as major crypto news accounts on X seized on the news, with BTC rising to $30,000 on crypto exchange Coinbase. This was Bitcoin’s highest level since August 9.

Spot Bitcoin ETF approval was ‘fake’

First, Fox Business reporter Eleanor Terret posted on her X account that BlackRock’s iShares Bitcoin ETF had not been approved. She cited a statement from the $9 trillion asset manager that indeed its “application is still under review.” 

Bloomberg and the Wall Street Journal have also quoted statements from BlackRock to the effect that the said ETF application remains under review. The SEC has also confirmed the reports were false. 

🚨NEW: The @SECGov has confirmed that the reporting by @Cointelegraph was incorrect. https://t.co/vpnZCXzh6o

— Eleanor Terrett (@EleanorTerrett) October 16, 2023

The SEC has recently delayed decision on all applications for spot Bitcoin EFTs before it. The regulator however did not appeal a court decision in favour of Grayscale over the conversion of GBTC to a spot ETF. As such, the market’s reaction over the weekend and early morning had benefited from sentiment that chances of a Bitcoin ETF approval were high.

Other than the GBTC to spot ETF countdown, the crypto market has had great anticipation for the other proposals that include BlackRock and Fidelity. For one, the product is expected to offer greater exposure to BTC for traditional investors – with this resulting in the influx of capital into the market. Experts say that the next bull market could benefit significantly from this.

Could this explain the reaction to today’s news? First posted on an X account of a crypto publication, the claim spread like wildfire, attracting massive buyside pressure. While the post has been debunked as fake news, could it have been a leak that jumped the gun?

Meanwhile, Cointelegraph has apologized for the “tweet” and is reportedly conducting an internal investigation as to what happened.

We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF.

An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is…

— Cointelegraph (@Cointelegraph) October 16, 2023

Over $100 million liquidated

Just as Bitcoin had spiked amid online circulation of the fake news, its price fell sharply soon after as more confirmed reports highlighted this to be fake news. Total liquidations jumped more than 280% in the past 24 hours.

More than $100 million shorts were liquidated as Bitcoin prices soared amid the news. According to data from Coinglass, the hour that saw BTC hit $30k had more than $112 million total liquidations. There were over $78 million shorts and $34 million longs liquidated, including over $64 million for BTC.

The post Fake spot Bitcoin ETF approval news pushes BTC to $30k appeared first on CoinJournal.

Tether freezes 32 addresses linked to terrorism in Israel and Ukraine

Key takeaways

Stablecoin issuer Tether has frozen over 30 crypto addresses linked to terrorism and warfare in Ukraine and Israel.

The crypto addresses held over $800k collectively.

Tether freezes crypto addresses linked to warfare in Ukraine and Israel

Tether, the issuer of the USDT stablecoin, announced in a blog post on Monday that it has frozen 32 addresses linked to terrorism and warfare in Israel and Ukraine.

The company confirmed that it has been working with Israel’s National Bureau for Counter-Terror Financing (NBCTF) to fight cryptocurrency-funded terrorism and warfare. 

Freezing the addresses means that the wallet users won’t be able to send USDT until the freeze is lifted. According to Tether, the 32 wallets held $873,118in USDT. Tether added that,

“To date, Tether has aided 31 agencies worldwide with investigations across 19 jurisdictions, freezing a total of $835 million in assets mostly associated with theft (blockchain and exchange hacks) with a minor portion to other crimes.”

The company added that it has partnered with countries, including the United States, Brazil, Singapore, Philippines, Germany, South Korea, Norway, Canada, Israel, India, the UK and Ukraine, to fight terrorism and warfare funding. 

Tether CEO Paolo Ardoino pointed out that,

“Tether remains committed to promoting responsible blockchain technology use and standing as a robust defence against cybercrime. We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity.”

This latest cryptocurrency news comes a week after Binance helped Israeli police seize Hamas-linked crypto wallets after a surprise attack by the terrorist organisation quickly turned into war. 

In November 2022, Tether froze $46 million worth of USDT stablecoins following a law enforcement request regarding an FTX wallet during the exchange’s collapse.

The post Tether freezes 32 addresses linked to terrorism in Israel and Ukraine appeared first on CoinJournal.

MT Tower Elevates the Metaverse Experience: Listed on MEXC Exchange and Redefining Engagement, Authenticity, and Inclusivity

Madrit, Spain, October 16th, 2023, Chainwire

 

The metaverse is ablaze with excitement and innovation, and standing tall at the forefront of this digital revolution is none other than MT Tower.

MT Tower is poised to transform the influencer and social media landscape into a vibrant and immersive wonderland. With a commitment to cutting-edge innovation, MT Tower aims to deliver an unparalleled experience that captivates and delights.

A New Era of Engagement

MT Tower, or Meta Tower, isn’t just any run-of-the-mill metaverse platform; it’s a lifestyle and gaming sensation. At its core, it’s all about redefining how influencers connect with their audiences and how social media comes to life in this immersive digital universe.

Authenticity Unleashed

MT Tower’s unique feature that sets it apart from the rest is its unwavering dedication to authenticity. Unlike other metaverse platforms that rely solely on avatars and artificial environments, MT Tower introduces the groundbreaking concept of “Real-World Bridges.” It’s like teleporting to real-world locations that have been scanned, and for influencers, this opens doors to a world of exciting possibilities. Influencers can now take their followers on a journey that feels more genuine and relatable than ever before.

Creating Unique Experiences

In MT Tower, influencers become the ultimate creators. Influencers are given a blank canvas to craft experiences that go beyond traditional social media boundaries. The platform’s immersive nature lets Influencers host events, interact with fans, and create unique virtual spaces for their audiences. For example, a concert on the peak of a digital mountain or a Q&A session in a meticulously replicated historic landmark. MT Tower empowers influencers to bring their creative visions to life like never before.

Empowering Creators and Influencers

In the ever-evolving metaverse, Gen Z and creators are all about self-expression. Traditional social media platforms often limit avatar customization options, stifling creators’ authenticity online. MT Tower addresses this issue by offering a dedicated space for creators to design, showcase, and trade virtual assets. This not only empowers influencers to create avatars that truly reflect their identities but also provides a unique avenue for content creation that resonates deeply with their audiences.

Privacy and Security

As influencers and users venture through the metaverse, concerns about privacy and security take center stage. MT Tower has taken a proactive approach to address these concerns, ensuring influencers can confidently engage with their followers. With the perfect blend of immersive experiences and robust privacy measures, MT Tower is setting the gold standard for secure interactions in the metaverse.

Governance and Inclusivity

Navigating the intricate metaverse landscape requires effective governance, given its decentralized structures and diverse participants. MT Tower is committed to establishing fair and transparent rules, providing a stable environment for influencers to thrive. Furthermore, the platform prioritizes inclusivity, ensuring that everyone can participate, regardless of their background or resources. This commitment broadens the reach of influencers and fosters diverse and engaged audiences.

The MT Token

MT Tower isn’t just about influencers and creators; The MT token, the heartbeat of this metaverse, is gearing up to make a splash as it gets listed on prestigious cryptocurrency exchanges, including Kanga.Exchange and MEXC. MT token will be listed on the MEXC exchange on October 18th. This exciting development opens up new avenues for influencers and users to explore the metaverse’s economic potential, further expanding their presence and opportunities.

Xsolla – metaverse contractor

Another exciting news is that Xsolla is all set to be the contractor for the entire MT Tower metaverse. The contract has been signed, and the parties have marked the first beta release for April 2024. What’s even more thrilling is that Xsolla and MT Tower are inviting 50 lucky beta testers as they eagerly seek feedback from their community. It’s all about inclusivity and innovation, and MT Tower looks forward with anticipation to the future.

In addition, an audit of the MT token has been conducted by Solidproof, and the team is currently in the process of undergoing a Know Your Customer (KYC) procedure.

About MT Tower media

MetaTower was founded in 2021 in response to the growing interest and demand in the metaverse, the upcoming changes in the influencer space as well as the growing need for new sales channels for e-commerce. The company is co-founded by individuals with many years of experience in the blockchain space, who have worked on numerous crypto projects, are associated with cryptocurrency media and have extensive experience in financial markets. The company MetaTower is registered in Estonia.

Website: https://metatower.com

Social Media: https://linktr.ee/metatower

 

Contact

COO
Bartek Juraszek
MetaTower
bartek@metatower.com

The post MT Tower Elevates the Metaverse Experience: Listed on MEXC Exchange and Redefining Engagement, Authenticity, and Inclusivity appeared first on CoinJournal.

Spot Bitcoin ETF a “done deal,” but how does this boost optimism for Shiba Memu?

Analysts have increased their expectations of a spot Bitcoin ETF.

A spot ETF would boost crypto sentiment, benefiting Shiba Memu.

Shiba Memu is a potential 10x investment in 2023.

Analysts are growing anxious over a potential approval of spot Bitcoin ETF. They believe the latest loss of SEC in the Grayscale case increases the odds for a spot ETF. Meanwhile, Shiba Memu’s presale has been in high gear as investors hold high hopes for the upcoming AI token. With over $3.8 million raised in presale, a potential spot Bitcoin ETF approval could be massive for the token. Investors can participate in the SHMU presale by visiting the project’s webpage.

A spot Bitcoin ETF beckoning?

Bloomberg ETF analyst James Seyffart says a spot Bitcoin ETF is a “done deal.” The analyst commented upon reports that the SEC wouldn’t appeal the court decision on Grayscale Bitcoin ETF. The move will pave the way for converting the Grayscale Bitcoin Trust to spot ETF. 

Analysts now believe the market is pricing for a potential greenlight of a spot Bitcoin ETF. Grayscale Bitcoin Trust (GBTC) has been trading at the lowest discount in almost two years. GBTC’s discount to Bitcoin’s net asset value (NAV) fell to 15.87% on October 13. The metric tracks how far an instrument trades from its real value. 

Analysts believe GBTC’s discount will narrow further as markets anticipate the first spot Bitcoin ETF. That comes even as Grayscale prepares to convert its trust product into a spot ETF. 

Crypto optimism to boost Shiba Memu

Shiba Memu has so far exceeded expectations after a fast-selling presale. However, a potential approval of the first spot Bitcoin ETF would add interest in the crypto token. 

A spot Bitcoin ETF would reignite interest in risk-on assets, fueling speculation, especially on Bitcoin. Consequently, meme cryptocurrencies have in the past benefited from improved crypto mood. The sentiment will pave the way for a potential uptake in Shiba Memu ahead and after listing. 

Apart from an improved crypto mood, Shiba Memu could become a challenger in the meme space. AI has been a hot development, with its prospects in Shiba Memu being an attraction so far. 

Unlike its meme peers, Shiba Memu aspires to be one of the most sustainable cryptocurrencies. It uses AI to self-market itself online and generate social frenzy. With meme predecessors suffering from market dips, investors may turn their attention to Shiba Memu. 

How does Shiba Memu work?

Shiba Memu fuses blockchain and AI, seamlessly building a marketing powerhouse. With AI, Shiba Memu taps into natural language processing to spot online mentions. It applies sentiment analysis and machine learning to assess investor perceptions and improve its marketing activities. 

Users will also play a crucial role in Shiba Memu’s growth. The project features an AI dashboard, which is an interaction platform. Users engage with the AI, ask questions, get feedback, and learn about Shiba Memu’s marketing interventions. 

The exciting bit about Shiba Memu is that the AI never gets tired. It learns and improves all the time, day and night. As such, the team believes the project can achieve as much work as 100 marketing agencies combined. 

Shiba Memu’s prediction in 2023, 2024

A major standout performance of Shiba Memu is its price increases during the presale. The value of the token increases every day at 6 PM GMT. The price dynamics give Shiba Memu momentum, with presale investors benefiting from the surge. 

Shiba Memu carries a huge potential based on the presale demand. Given the history of strong moves in meme tokens, analysts have earmarked SHMU a potential 10x investment. 

A prudential prediction is a 1,000% increase in value after SHMU lists in Q4 2023. In 2024, more project developments could allow Shiba Memu to sustainably increase in value. As a result, gains could be more than 10x, delivering substantial returns to investors.

The post Spot Bitcoin ETF a “done deal,” but how does this boost optimism for Shiba Memu? appeared first on CoinJournal.

Why a Bitcoin rally could mean big business for NUGX as whales continue to diversify

TLDR

Bitcoin’s upcoming pre-halving event has set the tone for a rally.

The International Monetary Fund (IMF) warns of possible inflation in 2024, which can affect Bitcoin’s rally.

Crypto whales seeking ways to diversify their portfolios are looking to NuggetRush for considerable returns.

As the pioneering digital asset, the movements of Bitcoin ($BTC) can sway the entire crypto market, dictating trends and influencing investment strategies. Recently, the crypto community has been abuzz with talk of a Bitcoin rally, which has rekindled the industry’s excitement and curiosity. 

Amidst this Bitcoin resurgence, the intersection of its rally with the trajectory of NuggetRush (NUGX) sets the stage for intriguing exploration by crypto whales. NuggetRush is a meme coin that distinguishes itself through its blend of gaming, real-world impact, and a passionate community. The project stands at the forefront of crypto innovation, using the allure of digital art, including non-fungible tokens (NFTs), in its gaming model. 

In this article, we journey through the ripples created by this Bitcoin resurgence, specifically focusing on how the diversification of these crypto whales can impact top crypto coins like NuggetRush. 

NuggetRush (NUGX): Embracing the GameFi gold rush

NuggetRush is a groundbreaking meme coin, setting itself apart through a captivating gamification approach that promises to redefine the cryptocurrency landscape. This means that, beyond the trading charts and price fluctuations, investors can engage in a dynamic gaming environment and enjoy an interactive experience. It’s an excellent opportunity for early supporters seeking top crypto coins with a real-world impact.

The native token of the cryptocurrency ICO, NUGX, has a total supply of 500 million. With an intriguing tokenomics structure, NuggetRush offers a presale that marks a pivotal step toward realizing the project’s growth. The ICO has an initial DeFi coin price of $0.10 per token and a proposed launch price of $0.020 following the five stages of the presale.

NuggetRush offers a virtual universe that guarantees an unforgettable experience. The project is a revolutionary blend of GameFi and adventure that immerses players in the heart of a virtual gold rush. Every mine you explore and every strategy you craft holds the promise of valuable treasures, making every gaming session a thrilling quest. It’s a place where memes and trending NFTs evolve into tangible value. 

This cryptocurrency ICO doesn’t just stop at providing an immersive gaming experience. It’s built on the Ethereum blockchain, ensuring the highest security and transparency standards. 

The game’s characters, including Maxwell Stoneforge, Marcus “Mack” McAllister, and Amelia “Mia” Gallagher, offer players a dynamic and diverse set of skills and attributes, doubling as collectible non-fungible tokens. Excitement is added to the gameplay with these trending NFTs.

>> Buy NuggetRush Now <<

Bitcoin ($BTC): Opportunities amidst the rally

The recent Bitcoin rally has captured the attention of the cryptocurrency world, sparking intrigue and excitement. This surge in the value of the token’s DeFi coin price is driven by a complex interplay of factors, including its impending pre-halving event and the possibility of a Bitcoin ETF approval. 

With these two factors, a change is definite for the cryptocurrency, although no one can tell which way the rally winds will blow. $BTC could skyrocket in price or decline further, especially following the IMF’s (International Monetary Fund) warning of inflation in 2024.

Cryptocurrency whales, individuals or entities holding substantial amounts of digital assets, have historically been known to wield considerable influence over the market. During bullish phases like the ongoing Bitcoin rally, these whales often diversify their portfolios, seeking new investment opportunities in tokens with incredible features like NUGX. 

This behavior demonstrates faith in the continued growth of the crypto market and suggests a potential flow of capital into smaller tokens. This diversification also introduces a layer of unpredictability as the market landscape evolves, with benefits and challenges awaiting smaller tokens as they navigate the tidal wave of a $BTC rally. 

With crypto whales diversifying to new tokens like NUGX, more growth opportunities are sure to arise for such projects and an influx of investors. These projects could potentially meet their goals quickly while gaining more partnerships.

>> Buy NuggetRush Now <<

Conclusion 

The Bitcoin rally casts its influence far and wide, rippling the cryptocurrency market. As it surges, it illuminates the potential for diversified investments and ushers in fresh opportunities. 

NuggetRush, with its unique blend of gaming, impact, and community, stands poised to navigate these dynamic waters. The synergy between Bitcoin’s resurgence and the innovative approach of NuggetRush hints at a promising journey ahead. 

As the cryptocurrency landscape continues to evolve, one thing remains certain: the interplay of Bitcoin’s rally and tokens like NUGX exemplifies the dynamic nature of the crypto world, offering opportunities for investors and enthusiasts to explore and engage.

Visit NuggetRush Presale Website

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Memeinator price jumps in stage 4 while Australia proposes new crypto licensing

Memeinator presale has entered the fourth stage.

The presale occurs in 29 stages, with the token returning by 132%.

Memeinator carries a 1,000% potential due to strong speculation and utility.

The crypto landscape keeps changing, with new tokens and regulations shaping the future of the sector. In response to the uncontrolled growth of new meme tokens, Memeinator (MMTR) has come to create order. Within a few days of presale, the token raised $703,442, with more investors buying it. Conversely, Australia is endearing itself as a crypto-friendly jurisdiction with new licensing proposals. Are these developments positive?

Australia eyes a new crypto licensing regime for exchanges

Australia’s Treasury has proposed new licensing and custody regulations for crypto asset providers. The latest cryptocurrency news says regulators could issue the draft regulations by 2024. Exchanges will be given 12 months to comply with the new licensing regime. 

The Australian Treasury suggests licensing for exchanges that control more than AUD5 million or $3.15 million in assets. Officials say the move aims “to ensure a level-playing field between traditional and emerging financial intermediaries.”

 The proposals endear Australia as a crypto-friendly nation. The proposed regulations are expected to increase the country’s digital asset certainty and drive adoption. 

Memeinator’s promise of meme domination attracts investors

Many meme investors have a story to tell. Whether it’s catching a parabolic move on Dogecoin or falling foul for a parody coin. Essentially, meme cryptocurrencies have been a double-edged sword. For those that have invested right, gains have been supernormal. The opposite has been true for investors falling to parody memes. 

Memeiantor promises to weed out the bad guys and make the meme investment landscape worthwhile. Boasting to have returned from 2077, Memeinator says its mission is one. Destroy weak, pathetic, and non-original meme tokens from the face of the earth. 

The mission will be accomplished using artificial intelligence. The AI will scan the web and find targets, crushing them to the core. This way, Memeinator will achieve domination, with a clear target to hit a $1 billion market cap. 

Memeinator will also apply clever and intelligent marketing using cutting-edge AI technology. The aim is to ensure everyone is talking about the project, driving hype and FOMO. Memeinator won’t stop there as AI will continually reinvent itself to make the crypto dominate. 

As the presale enters the fourth stage, investors remain as hopeful as they were when the project started. Memeinator token has, too, maintained a positive trajectory, rising at each stage. The token is now valued at $0.0118, representing a gain of 18% for early backers. Evidently, there is much to be made during the 29-stage presale, as the token will rise at every phase. At the conclusion, the token will have returned 132%. 

Memeinator and overall crypto landscape

Memeinator fills a crucial role in the crypto world. It positions itself as a quality project with great potential. Utility has been the key concern for most meme investments.

Apart from harnessing the power of AI, the project will allow the staking of the token. There are also exclusive NFTs for the community and a game to be launched at the end of the presale. 

As regulations catch up with unworthwhile crypto projects, Memeiantor will play a significant role. Increased certainty through regulations will allow Memeinator to generate more trust, unlocking its value. 

Will Memeinator rise by 1,000%

Memeinator will have risen by more than 100% when the presale ends. The gains are controlled through the project’s tokenomics. From here, Memeinator could surprise the markets when the token is listed.

The Memeinator team has a goal to list the token on tier 1 exchanges. AI-enabled marketing and branding will also make the project known worldwide, increasing adoption.

With the prospects, Memeinator’s token value could rise by more than 1,000% after listing. Aside from the speculative value drive, Memeinator could increase due to improved crypto sentiment.

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Upbit receives in-principal approval for MPI License in Singapore

Upbit Singapore secures in-principal approval for an MPI license from the MAS.
The approval allows Upbit to offer regulated digital payment token services under Singapore’s Payment Services Act 2019.
Singapore’s reputation as a cryptocurrency hub is growing rapidly.

Upbit Singapore, a branch of Upbit which is South Korea’s largest cryptocurrency exchange by volume, has received a significant nod from the Monetary Authority of Singapore (MAS). The cryptocurrency exchange has been granted in-principal approval for a Major Payment Institution (MPI) license in the city-state.

This development opens the doors for Upbit to offer regulated digital payment token services in compliance with the Payment Services Act 2019 (PSA).

Upbit Singapore’s major milestone

Upbit Singapore was launched in 2018 and received exempt status from holding a license under the PSA in 2020.

Upbit is making substantial progress in expanding its presence in the cryptocurrency market. The approval by the MAS paves the way for Upbit to provide regulated digital payment token services in accordance with Singapore’s Payment Services Act 2019.

The in-principal approval specifically allows the exchange to continue offering its services to institutional investors while awaiting full license authorization. This initial approval serves as a strategic milestone for Upbit Singapore, emphasizing the exchange’s dedication to establishing a strong presence in the local market.

With this regulatory green light, Upbit Singapore is gearing up to expand its operations and gradually emerge from “stealth mode.”

Singapore’s growing Crypto Hub status

Singapore is increasingly recognized as a prominent hub for the crypto industry, working closely with banks, businesses, and the public to create a favourable environment for cryptocurrencies. The country’s government has been instrumental in establishing Singapore as a leader in the crypto space.

Upbit’s achievement positions it among an exclusive group of 15 crypto firms with full MPI digital payment token service licenses from MAS. Prominent players such as Coinbase and Blockchain.com also received licenses from MAS recently, further solidifying Singapore’s reputation as a cryptocurrency-friendly jurisdiction. Ripple was also been approved by the MAS to operate in the country.

Ripple CEO Brad Garlinghouse praised Singapore for striking a balance between innovation, consumer protection, and responsible growth, highlighting its growing status as a cryptocurrency hub.

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As Pepe struggles to maintain its early 150x boom, is there a new contender to its throne?

TLDR:

Pepe ($PEPE) struggles post-150x boom due to lack of market sustainability and utility.

NuggetRush ($NUGX) emerges with strong tokenomics, real-world utility, and community engagement.

NuggetRush’s innovative approach presents a meaningful, forward-thinking crypto investment opportunity.

Pepe ($PEPE) once soared to staggering heights with a 150x price boom, showcasing the euphoric yet unpredictable nature of the crypto realm. However, as the dust settles, the token finds it hard to maintain its majestic flight, its wings seemingly clipped by the harsh realities of market sustainability and utility demand.

Amidst these tides of change, a new vessel, NuggetRush ($NUGX), sails forth, promising not just a sturdy deck, but a treasure trove of real-world utility and robust tokenomics. 

The ephemeral allure of Pepe ($PEPE) now pales in comparison to robust, utility-driven tokens like NuggetRush ($NUGX), which offer a harmonious blend of financial growth, real-world impact, and community engagement, paving the way for a new era of meaningful crypto investments.

NuggetRush ($NUGX)

NuggetRush ($NUGX) isn’t merely a token; it’s a gateway to an expansive universe where cryptocurrency, gaming, and tangible societal impact coalesce. This Ethereum-based token stands as the pillar of an innovative play-to-earn blockchain game, where every mined virtual gold nugget echoes rewards in the real world, catering to the betterment of artisanal miners in underdeveloped countries. 

NuggetRush’s ecosystem resonates with the ethos of GameFi, nurturing a realm where players can exchange in-game assets for real-world assets like gold and cash.

The tokenomics are meticulously designed to fuel a self-sustaining ecosystem with a total supply of 500,000,000 $NUGX tokens, fostering a community-driven governance model, and an ecosystem that rewards participation. 

The best altcoins bear a hallmark of security and transparency, and NuggetRush is no exception. With a smart contract audit already in the bag, courtesy of SolidProof, and a smart contract that will be renounced post-launch to ensure a trustless and transparent environment, $NUGX sets a high bar. 

The ongoing successful presale, now in Round 1, has already seen over 69,000 $NUGX tokens sold at 0.01 USDT each, with the price poised to increment to 0.012 USDT in the next round, underscoring the burgeoning investor confidence in this venture.

Amid a plethora of choices in the crypto domain, discerning the best altcoins to watch can be a daunting task for both seasoned and novice investors. 

However, NuggetRush ($NUGX) stands out, offering not just a promising financial venture, but a meaningful engagement that resonates with real-world impact. The innovative blend of gaming and blockchain technology it embodies provides a rare, valuable proposition in a market flooded with transient, hype-driven tokens.

The well-structured presale, the transparent and secure framework, and the promise of a community-centric governance model, all contribute to making NuggetRush one of the candidates in the list of the best cryptos to buy now. 

The vision of integrating play-to-earn gaming with a mission to support underprivileged communities showcases a forward-thinking approach, setting a precedent for how cryptocurrencies can transcend digital realms and foster tangible positive change in the societal fabric.

>> Buy NuggetRush Now <<

Pepe ($PEPE)

On the flip side, Pepe’s narrative unfurls as a cautionary tale. The token, once a darling of the crypto community, now wrestles with the ghost of its past glory. The lack of a substantial utility framework and a roadmap to sustain its early boom are the chains dragging it down into the abyss of obsolescence. 

Its journey reflects the path of many meme coins that rocket skywards on the wings of hype but plummet when the fuel of real-world utility runs dry.

In stark contrast, emerging altcoins to watch like NuggetRush ($NUGX) are not mere speculative assets but bearers of a vision that transcends digital numbers, anchoring its value in tangible impact and a thriving, interactive ecosystem.

Conclusion

The juxtaposition of Pepe and NuggetRush unveils a panorama of what the future holds. While Pepe struggles to find its footing amidst a crumbling facade of hype, NuggetRush surges forth on a strong foundation of utility and a promise of real-world impact. 

The robust tokenomics, the innovative intertwining of gaming and blockchain, and the mission to aid underdeveloped communities, places NuggetRush in the spotlight as one of the top new altcoins to watch.

For the discerning investor, tokens like $NUGX don’t merely represent a financial venture but a step towards a realm where cryptocurrency transcends digital boundaries, seeding growth and prosperity in the real world.

Visit NuggetRush Presale Website

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