Day: October 20, 2023

Ferrari adds BTC, ETH, XRP to payment options; ADA, DOGE & QUBE ready for a jump

The high-octane world of luxury cars has always been a hotbed for innovation, not just in design and performance, but also in the realm of customer experience and payment methods. On October 14, Ferrari, the iconic luxury carmaker, took a leap into the future by accepting crypto payments

As we witness the impact of this move, there’s a new ICO in the crypto arena that’s been steadily garnering attention and redefining how we invest in AI technology startups – InQubeta ($QUBE).

InQubeta ($QUBE) – a gateway to AI investments

In a world increasingly driven by Artificial Intelligence, startups are often at the intersection of breakthrough innovations and immense growth potential. However, channelling investments into these ventures has been a challenge that often deterred potential investors. InQubeta is on a mission to revolutionize this space.

Providing a robust platform for fractional investment in AI startups, InQubeta introduces QUBE tokens as the bridge connecting potential investors with promising startups. These startups, in their quest for funds, create some of the coolest NFTs representing either rewards or equity. These NFTs are then available for purchase by investors using QUBE tokens, creating a symbiotic relationship where startups acquire necessary capital, and investors enjoy the returns and benefits based on their NFT holdings.

More than just another crypto to buy, QUBE is also a deflationary ERC20 coin, with an in-built burn mechanism. Moreover, as a governance token, QUBE is not just a passive investment. It grants its holders the power to shape the platform’s future, making decisions, proposing changes, and voting on pivotal aspects of InQubeta’s journey.

Ensuring security and trust, InQubeta has received a positive audit from Hacken and a KYC verification from BlockAudit. With an ongoing presale that has already raked in over $3.7 million, the platform’s roadmap hints at a future filled with expansion; one that will make QUBE the best crypto investment of this decade.

You can now buy a Ferrari with Crypto

As reported by Reuters on Oct. 14, Ferrari has now opened the gates for its clientele to purchase luxury cars using the best cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Partnering with BitPay as its payment processor, this iconic brand ensures a seamless transaction experience for its customers. 

Regardless of whether a client chooses to pay with traditional currency or cryptocurrency, there will be no difference in prices, fees, or surcharges. While the offering currently caters to U.S. customers, Ferrari also has its eyes set on the European market.

The rising tide: ADA, DOGE & QUBE

With the increasing integration of cryptocurrencies in mainstream industries, top altcoins like ADA Cardano (ADA), Dogecoin (DOGE), and InQubeta (QUBE ) are poised for significant market movements. As businesses and consumers alike become more crypto-savvy, these tokens, backed by robust projects and utilities, are likely to see a surge in demand and valuation.

Cryptocurrencies are no longer the outliers; they’re rapidly becoming the norm. As we stand at this juncture, it’s not just about the cars we drive or the tokens we invest in; it’s about the future we’re collectively crafting. Pioneering platforms like InQubeta highlight the evolving narrative of the modern financial landscape. 

To take part in the InQubeta project you can visit InQubeta Presale and join The InQubeta Communities.

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Tether plans to start publishing real-time reserve reports in 2024

Tether is planning to introduce real-time reserve data reporting by 2024.
Tether currently updates its reserve data daily and issues monthly and quarterly reports,
According to its Q2 attestation Tether reserves had an excess of $3.3 billion.

Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), is gearing up to enhance the transparency of its operations by updating the frequency of releasing reserve data reports.

According to Paolo Ardoino, Tether’s Chief Technical Officer and the upcoming CEO, the company is planning to initiate real-time publication of reserve data by the year 2024.

Transparency of Tether’s reserves

The move comes in response to ongoing concerns about the transparency of Tether’s reserves, which is essential for maintaining trust in the stablecoin. Currently, Tether publishes and updates its reserve data at least once a day. In addition to daily updates, the company also issues monthly reserve reports and quarterly reserve reviews.

In Tether’s latest Q2 attestation, performed by accounting firm BDO, it was revealed that the company had bolstered its excess reserves by $850 million, bringing the total excess reserves to a substantial $3.3 billion. Furthermore, the report disclosed that Tether had approximately $72 billion worth of indirect exposure to United States Treasuries held by money market funds, with US Treasuries collateralizing its overnight repurchase agreements.

Real-time reserve reporting

This commitment to real-time reporting is a significant step toward ensuring the stability and reliability of Tether in the cryptocurrency market. The move will provide users and investors with immediate and up-to-date information on the assets underpinning the stablecoin, thereby addressing previous criticisms and increasing credibility.

Tether’s efforts to enhance transparency align with the broader objectives of creating a trustworthy environment for stablecoin users and investors.

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Litecoin (LTC) spikes as Bitcoin hits $30k

Litecoin price jumped 4% to above $64 on Friday morning.
LTC was up as positive sentiment permeated the altcoin market amid Bitcoin’s rally to $30k.

Litecoin (LTC) rose more than 4% early on Friday amid a positive reaction across the altcoin market to Bitcoin’s fresh spike to $30k. LTC traded to intraday highs of $64 across major exchanges, with daily trading volume hitting $370 million as buyers pushed the total crypto market cap to over $1.17 trillion.

Why is Litecoin price up today?

Although a bullish picture has looked increasingly possible with metrics such as Litecoin hashrate jumping to new highs, one of the likely catalysts could be the increased crowd noise on the probability of a spot Bitcoin ETF hitting the market sooner than anticipated. 

Recent developments involving potential ETF issuers and the US Securities and Exchange Commission (SEC) have added to the growing belief that the first spot ETF is a matter of when and not if. A court ruling on the Grayscale ETF today is one of the things on the crypto events watchlist for today.

That has Bitcoin price poised for takeoff, and as quant trader Charles Edwards pointed out on X today, the flagship cryptocurrency’s positive outlook is enhanced by the several key metrics in this cycle.

A list of Bitcoin firsts this cycle:

– Hash Rate growth actually increased in bear market
– Record 76.2% of supply held by long-term holders
– Governments mining it
– Lightning Network hits $150M+
– You can buy a burger at McDonalds with it

— Charles Edwards (@caprioleio) October 20, 2023

Other catalysts for LTC price today could be the regulation news related to SEC dropping charges against Ripple executives. The SEC sued Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen when it filed a lawsuit against the San-Francisco-based company in December 2020. The agency’s charges against the two were dismissed on Thursday, with the trial scheduled for April next year now not happening.

LTC looks to have pumped amid a similar reaction across the altcoin market. While Litecoin’s modest gains are dwarfed by the colossal returns for some of the best performing altcoins today – including Solana and Bitcoin SV – the bullish flip has analysts pointing to a potential retest of the psychological $100 level if upward momentum holds.

BTC breaking higher on further positivity could see Litecoin push for year-to-date highs before a bull market sets in a parabolic rally.

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Bitget’s Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

Victoria, Seychelles, October 20th, 2023, Chainwire

Key Takeaways:

Irrespective of the decline in the market, Bitget recorded one of the highest increases in market share, rising to 9.43% in September
BGB token became one of the Top 5 platform tokens by market cap and the number of BGB holders kept increasing and reached 354,472 in Q3
Bitget unveiled its expansion plans into the Middle East region
Bitget launched the US$100 million EmpowerX Fund to support the development of its Web3 ecosystem

Bitget, top crypto derivatives and copy trading platform, has released its quarterly Transparency Report highlighting the major achievements of the platform for Q3 of 2023. The report emphasizes the platform’s remarkable performance during a challenging market period and showcases the exceptional growth of its native token, BGB.

In Q3 2023, the overall industry faced a gloomy market situation. According to CCData’s report, the spot trading volume on centralized exchanges is US$1.33 trillion, and the derivative trading volume is US$4.8 trillion, decreasing by 22% and 23% respectively. In September, the combined spot and derivatives trading volume on centralized exchanges fell for the third consecutive month, dropping 20.3% to US$1.67 trillion. Irrespective of the decline, Bitget recorded one of the highest increases in market share, rising to 9.43%.

Factors contributing towards this growth include Bitget’s native token BGB’s exceptional performance this year. BGB outperformed most platform tokens as the Top 5 platform tokens by market cap. The price rose from US$0.18 at the beginning of the year to a quarterly high of US$0.4927 in September.

“The exceptional performance of BGB reflects Bitget’s strong commitment to accelerating crypto adoption with its DeFi and CeFi products in the ecosystem. We are dedicated to providing our users with innovative and secure trading solutions, and the growth of BGB is the result of trust and support of our growing community,” said Gracy Chen, Managing Director at Bitget.

The anticipation surrounding the relaunch of the system’s launchpad led to an extraordinary surge, pushing its value to an all-time high of US$0.5152 in February. The holders of BGB kept increasing and reached 354,472 in Q3 while the volume of BGB traded in the last three months reached over US$1.3 billion.

The overall Bitget ecosystem performance has been stable through the market turbulence. Bitget’s Protection Fund consistently exceeded US$300 million past quarter. In July, its worth peaked at US$368 million, representing the highest level attained that month. This provides an extra security layer to users’ funds besides Bitget’s over 200% Proof-of-Reserves ratio.

Bitget partnered up with multiple industry stakeholders to bring simplicity and convenience to crypto tax reporting, portfolio management, and trading automation, and introduce better data offerings. This includes collaborations with Cointracking, Coinstats, CCData, Koinly, 3commas, Cobo Superloop, and more.

Bitget constantly leads initiatives aligning with its vision of creating a more equitable future where crypto evolution reforms finance. In Q3 Bitget, implemented its latest rebranding initiative, and focused on strengthening its position as a leader in innovative trading products.

Bitget also emphasized its expansion plans into the Middle East region. Among the countries the exchange is exploring are Bahrain and the UAE, including the crypto-friendly emirates of Dubai, Abu Dhabi, and Ras Al Khaimah.

In Q3 September, Bitget launched its US$100M EmpowerX Fund dedicated to fostering the platform’s ecosystem development. This strategic fund is tailored to explore investment opportunities in regional exchanges, data analytics firms, media organizations, and other entities contributing to the platform’s growth trajectory.

Celebrating its fifth anniversary, Bitget hosted the momentous EmpowerX Summit in Singapore, a flagship event that brought together nearly 1900 esteemed guests, featuring over 247 distinguished speakers and partners. The summit served as a platform for engaging in discussions on the transformative potential of crypto and web3 ecosystems. Notable keynote speakers such as Tim Draper, Haseeb Qureshi, and Justin Sun emphasized the platform’s continued commitment to empowering the crypto community.

With its quarterly reports, Bitget aims to establish industry gold standards for transparency and trustworthiness. As it continues to lead innovation and create a more inclusive financial future for all, Bitget demonstrates an uncompromising commitment to security and reliability.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Bitget Wallet, the web3 arm of Bitget, is a decentralized multi-chain digital wallet supporting 250,000+ cryptocurrencies across 90+ chains, enabling exploration of DEX, DeFi, NFT, and metaverse. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

For media inquiries, please contact: media@bitget.com

 

Contact

Global PR Manager
Rachel Cheung
Bitget
media@bitget.com

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MX TOKEN (MX) price prediction amid a positive crypto market sentiment

MX Token (MX) has surged from $0.0118 to $2.8564, fueled by a deflationary.
MEXC has announced the launch of Ethereum Expres and FDV Labs on its Kickstarter platform.
There is generally positive sentiment throughout the entire crypto market.

In recent times, the cryptocurrency market has experienced a wave of positive sentiment, with several tokens and projects showing remarkable growth. MX Token (MX), the native cryptocurrency of the MEXC exchange, has not been an exception. The token’s price has seen significant movement, and in this article, we will analyze the factors behind its recent surge.

Why MX TOKEN price is surging?

MX Token (MX) has been on a notable upward trajectory, defying market trends. The token, which began trading at $0.0118, is now surging, with the current price resting at $2.8564. What’s driving this remarkable increase?

One crucial factor is the deflationary mechanism associated with MX Token. MEXC, the exchange behind MX, allocates a portion of the trading fees collected to buy back and burn tokens, thereby reducing the overall supply. This approach can contribute to scarcity, which, in turn, often bolsters the token’s value.

Additionally, MX Token is intricately tied to the MEXC ecosystem, offering holders unique privileges, including voting rights, priority participation in activities, and more. The connection between MX Token and the exchange’s success has fueled investor confidence, further driving the token’s price up.

Furthermore, the positive sentiment in the cryptocurrency market, along with the addition of new projects to MEXC Kickstarter, and the innovative developments and strategic initiatives by MEXC have contributed to the surge in MX Token’s price.

Projects coming to MEXC Kickstarter

MEXC’s commitment to fostering innovation and supporting promising blockchain projects is evident in its Kickstarter platform. Recent announcements have revealed that two noteworthy projects, Ethereum Expres (ETE) and FDV Labs, are making their way to MEXC Kickstarter.

.@EthereumExpres,who is building an L1 network, is coming to #MEXCKickstarter 🚀

🗳️Vote with $MX to share massive airdrops
📈 $ETE/USDT trading: Oct 21, 10:00 (UTC)

Details: https://t.co/Lv0Cx5ZyKN pic.twitter.com/9ucq0Ctc3h

— MEXC (@MEXC_Official) October 20, 2023

 

.@FDV_Labs, an innovative financial platform aims to bridge the gap between traditional finance and DeFi, is coming to #MEXCKickstarter 🚀

🗳️Vote with $MX to share massive airdrops
📈 $FDV/USDT trading: Oct 21, 12:00 (UTC)

Details: https://t.co/04OO0Zs40B pic.twitter.com/I4VKI0EEZX

— MEXC (@MEXC_Official) October 20, 2023

Participants in the MEXCFutures Carnival voted with MX Tokens to support these projects’ launch. Ethereum Expres, an L1 network, and FDV Labs, an innovative financial platform bridging traditional finance and DeFi, are set to join the MEXC ecosystem.

The inclusion of these projects on MEXC Kickstarter is a testament to the exchange’s dedication to nurturing promising blockchain ventures and providing its community with exciting opportunities for engagement.

Recent MEXC developments

In addition to the introduction of new projects, MEXC has seen significant developments in recent years. In 2022, the exchange achieved numerous milestones, including the launch of the world’s first Blue-chip NFT Index, becoming the volume leader in leveraged ETF trading, and securing the number one spot in perpetual futures liquidity.

These accomplishments have helped strengthen MEXC’s position in the cryptocurrency market and contributed to the overall growth and success of MX Token (MX). Furthermore, MEXC’s commitment to continuous improvement and innovation is evident in features like the Quick Commit Button, designed to enhance user experience.

MX TOKEN price prediction

Looking ahead, what can we anticipate for MX Token’s price? The growth and achievements of MX Token and MEXC in 2022 provide a strong foundation for future success. With a growing user base, a daily high of $2.96, and a circulating supply of 100 million MX tokens, MX is well-positioned for further growth.

The MX 2.0 proposal, including the “Buy-Back and Burn” program, demonstrates a commitment to maintaining controlled and optimal token distribution, which can contribute to long-term stability and value appreciation.

With MX Token’s recent surge to $2.8522 and a 25% increase in MX Token holders, there is room for optimism. The token’s utility within the MEXC ecosystem and the community’s active participation in its development suggest a positive outlook.

The bullish trend is further supported by an MA crossover and a bullish MACD signal. If the current daily candlestick closes above $2.85, the token could attempt reaching $3, before the end of the week.

However, traders should be cautious of a possible pullback as the market lets off pressure after the marathon Bull Run. A pullback could see the MX token price drop to within $2.60 before taking its next step.

A glimpse into another crypto project making headwinds

While our focus has been primarily on MX Token and MEXC, it’s worth mentioning another project, Memeinator. This project positions itself as the “meme coin to rule them all,” and it’s generated significant interest in the crypto community.

Memeinator introduces the MMTR token and is currently in the midst of a presale. The project aims to become a dominant meme coin, offering genuine utility, AI-driven insights, and a roadmap that spells out its mission to eliminate sub-par memes.

The Memeinator presale progress has seen the project raise $810,440 raised out of a $948,275 goal, indicating strong community support. This impressive progress adds to the general crypto market sentiment as investors show support for upcoming projects.

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Crypto rally adds $46 billion to global market cap: here’s why prices are up

Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k.
Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours.
Ethereum and XRP have also spiked, above $1,600 and $0.52 respectively as ETF talk and Ripple news buoy markets.

The global cryptocurrency market capitalization is up 4.6% to above $1.17 trillion, with about $46.5 billion added to the crypto market cap in the past 24 hours. The global 24-hour trading volume was about $88 billion, according to data from market aggregator CoinGecko.

Why are crypto prices rising?

A spike in crypto prices today is the reason behind the uptick in the total cryptocurrency market cap. As can be seen in the heatmap below, the upward trend for Bitcoin (BTC) and across the altcoin market, has fueled the jump in total market cap.

Crypto market heatmap. Source: Coin360

The injection of volatility in the sector is likely the flip in sentiment amid increased speculation on developments around approval for a Bitcoin ETF. While the recent “fake news” on the topic saw Bitcoin and alts give up gains made in a crazy rally on Monday, the upward move towards the $30k level is on again.

Bitcoin rose to a new high of $29,961 early Friday, spiking towards levels seen on Monday when the benchmark crypto asset touched the $30k mark. BTC price was up more than 5% in the past 24 hours and nearly 12% in the past week, and some analysts are predicting the beginning of a bull market rally.

One #Bitcoin is back to $30,000.

The low is in, the bear market is over. It’s 2015/2016 all over again.

— Michaël van de Poppe (@CryptoMichNL) October 20, 2023

The gains come as market experts and crypto analysts point to the growing probability of a Bitcoin ETF. Developments such as BlackRock and other asset managers update their filings to align with SEC feedback.

XRP rallies amid Ripple news

Other than the Bitcoin ETF train, another positive catalyst for today’s market performance could be the news that the SEC has dropped its charges against two top Ripple executives. The case was dismissed on Thursday after the regulator and Ripple reportedly agreed to end the matter.

XRP price rallied to above $0.52, while positivity across the market saw Ethereum break above $1,600.  Solana led the top 10 altcoins, spiking to above $27 with a 24-hour rally of 12%.

The post Crypto rally adds $46 billion to global market cap: here’s why prices are up appeared first on CoinJournal.

Bitcoin SV price prediction as it climbs 71% in 24 hours

BSV surged 71% in 24 hours on positive sentiment and ETF anticipation.
Shiba Memu (SHMU) gains traction for its AI-driven marketing and interactive dashboard.
Bitcoin’s outlook remains promising with expected ETF approval but demands a cautious approach.

Bitcoin SV (BSV) has witnessed a remarkable surge, with its price climbing an astounding 71% in just 24 hours. This meteoric rise in BSV’s value has caught the attention of both crypto enthusiasts and investors.

In this article, we’ll delve into the factors contributing to this surge and explore The Bitcoin SV price prediction. We will also touch upon an intriguing newcomer in the crypto world, Shiba Memu, currently in the midst of an exciting presale.

Bitcoin SV soars: a 71% price surge

In recent hours, Bitcoin SV has experienced an astonishing price surge. At the time of writing, the cryptocurrency is trading at $53.89, marking a substantial 71% increase over the past 24 hours. This surge has positioned Bitcoin SV among the top-performing assets in the crypto market.

This remarkable price movement has drawn significant attention to BSV, raising questions about the driving forces behind this impressive surge.

What’s behind the surge in Bitcoin SV price?

The surge in Bitcoin SV’s price can be attributed to several factors:

Market Sentiment: Positive sentiment has been permeating the cryptocurrency market, primarily influenced by the anticipation of the approval of a Bitcoin Exchange Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). This optimism has spilled over to altcoins like Bitcoin SV, as investors seek opportunities for growth.
Resurgence of Bitcoin: Bitcoin’s recent price gains have contributed to the overall bullish sentiment in the market. As Bitcoin continues to perform well, it positively influences the prices of other cryptocurrencies, including Bitcoin SV.

Bitcoin SV price prediction

While Bitcoin SV’s recent surge is impressive, what about Bitcoin’s future price movement?

The cryptocurrency market is abuzz with speculation, primarily fueled by the potential approval of a Bitcoin ETF by the SEC. The sentiment has been further bolstered by the SEC’s decision not to appeal the Grayscale lawsuit.

If the agency proceeds to approve a Bitcoin Spot ETF, it is expected to trigger a substantial wave of institutional investment in the United States. This could have a profound impact on the price of Bitcoin and other cryptocurrencies.

The current Bitcoin SV bullish trend started on October 16 coinciding with an MA crossover. Adding to the MA crossover, the past three daily candlesticks have also formed a “Three White Soldiers,” further solidifying the bullish trend.

The moving average convergence divergence (MACD) indicator is also signalling a Bull Run

If the current daily candlestick closes above $54, Bitcoin SV could attempt going for $60 before the end of the week.

However, there could be a pullback as the market tries to let off the selling pressure accumulated over the past three bullish days. If this occurs, the token could see a drop to the resistance at $40.

It’s important to note that cryptocurrency markets are highly volatile and subject to rapid price fluctuations. While the optimism is palpable, investors should approach the market with caution, conduct their own research, and be aware of the associated risks.

A unique meme token rises with the Bitcoin SV surge

As Bitcoin SV and the entire crypto market rise after the fake news of a Bitcoin ETF approval by the SEC, a new AI-powered meme coin called Shiba Memu is also gaining traction in the crypto space.

Shiba Memu (SHMU) is a unique meme token with self-sufficient marketing capabilities driven by AI technology. It is currently in the midst of a presale, which has generated significant interest. It’s important to note that this newcomer is challenging the status quo in crypto marketing.

Shiba Memu stands out as a pioneering project in the crypto space, thanks to its cutting-edge AI technology that powers its marketing capabilities. Unlike other meme tokens that rely on human teams for marketing efforts, Shiba Memu takes a different approach. It autonomously creates marketing strategies, generates PR content, and promotes itself across various forums and social networks.

The AI technology behind Shiba Memu generates a staggering amount of content, disseminating it through press releases and marketing materials on forums and social media platforms. The AI system also monitors and analyzes the performance of its marketing campaigns, making real-time adjustments to optimize results. Moreover, it offers users the unique opportunity to interact with a robot meme dog marketing genius through an AI-powered dashboard. This innovation has captured the imagination of investors and crypto enthusiasts alike.

In conclusion, Bitcoin SV’s recent price surge, Shiba Memu’s innovative marketing approach, and Bitcoin’s promising outlook are capturing the attention of the cryptocurrency community. With positive market sentiment and the potential approval of a Bitcoin ETF, the crypto space continues to be a focal point for investors seeking opportunities in this dynamic and ever-evolving landscape.

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