Month: November 2023

Injective surges after latest burn auction and OKX listing

Injective (INJ) price surged by nearly 10% as it hit an intraday high of $18.24.
The gains came as OKX added support for INJ on its spot markets and the community burned more than $65k worth of INJ.
INJ price is just 28% off its all-time high of $24.89 reached in April 2021.

Injective (INJ) price surged on Thursday as positive catalysts helped bulls break above recent resistance levels. The INJ token reached intraday highs of $18.24, soaring nearly double digits on the day as buyers pushed for the all-time high above $20.

OKX lists INJ, burn auction continues

OKX added support for Injective (INJ) on November 30, opening deposits for INJ/USDT at 6 am UTC. The token opened for spot trading at 10 am UTC.

The Injective team also announced that the community burned $65,000 worth of tokens (3,986.52 INJ), adding to the weekly burns that have been carried out every Wednesday since mainnet launch in 2021. The weekly burn accounts for 60% of all dApps fees.

3/ Yesterday, over $65,000 worth of $INJ was burned 🔥 pic.twitter.com/b59ZKHlx0c

— Injective 🥷 (@Injective_) November 30, 2023

With today’s gains, which came after the latest burn action and listing of INJ for spot trading by crypto exchange OKX, its likely further upside could bring the ATH of $24.89 reached in April 2021 into view. That price is now just 28% away, going by the price of $18.06 at the time of writing.

Injective has soared more than 18% in the past week and 37% over the past month. The price of the layer-1 blockchain’s native token has skyrocketed 940% since hitting new lows a year ago. Trading volume rose 56% in the past 24 hours to over $128 million.

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On-chain debt securities marketplace Obligate launches on Base

On-chain debt securities marketplace Obligate launches on Base
Obligate is a Swiss-regulated on-chain bonds platform, while Base is an Ethereum layer-2 scaling platform launched by Coinbase.
Deployment on Base will help with institutional adoption of on-chain debt securities, Obligate’s head of partnerships said in an announcement.

Obligate, a Swiss-regulated blockchain marketplace for capital markets, has deployed on Base, the Ethereum layer-2 scaling solution launched by Coinbase.

In an announcement published on Thursday, Obligate termed the development as a significant milestone in the quest to promote adoption of on-chain debt securities to more users. 

Obligate is now live on Base! A monumental step for on-chain debt capital markets, powered by @BuildOnBase, @Coinbase‘s Ethereum Layer 2 incubation. https://t.co/8K3fa3aQfA

— Obligate (@obligatecom) November 30, 2023

With demand for on-chain bonds on the rise across the DeFi market, today’s launch is a key step that will see more institutional investors adopt blockchain-native assets.

Base’s commitment to creating a more open financial system aligns closely with our vision of fostering institutional engagement in on-chain capital markets,” said Matthias Wyss, the head of strategic partnerships at Obligate.

Noting that deploying on Base will give more institutions the tools and infrastructure they need to participate in on-chain debt capital markets, Wyss added:

Our deployment on Base exemplifies a shared vision to surmount the barriers confronting institutions, offering them a secure and efficient portal to engage with on-chain debt products. Make no mistake, this represents a paradigm shift in the integration of blockchain technology into institutional finance.”

Base launched in early August and has seen considerable growth since, with revenue recently surpassing $10 million. The L2’s monthly active user count has also been impressive, with over 1 million on average.

Obligate raised $8.5 million in its seed funding round, with backers including Earlybird, Blockchange Ventures, SIX Fintech Ventures and Circle Ventures.

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IOTA targets $0.30 after bullish DLT news as investors diversify with Everlodge (ELDG)

IOTA broke above a key level after news of the $100 million DLT foundation.
Everlodge presale price has risen to $0.025 and is projected to hit $0.035 by the time it launches.
By the time ELDG launches on major exchanges, its value could be 280% higher than the initial price of $0.01

The price of IOTA (IOTA) soared to above $0.28, its highest level since early October 2022. Meanwhile, positive sentiment across the crypto market has seeped into Everlodge (ELDG). With bullish momentum likely to push IOTA and other crypto prices higher, is this the time to diversify portfolios?

Here’s a look at IOTA’s potential price performance as well as why fractional investments on the blockchain are one of the hottest trends today – with Everlodge positioned to be the main player in the fast-rising property investment sector.

IOTA’s key DLT Foundation launch

IOTA (IOTA) is a distributed ledger, whose native coin is used as a unit of transaction. While it runs a peer-to-peer network, it’s not a blockchain. Its distributed ledger is called Tangle, and utilizes the Directed Acyclic Graph (DAG) technology.

Although the network has lagged since its early break into the ecosystem, recent bullish developments are putting analysts on the watch and investors interested. 

This includes the unveiling of ShimmerEVM, the Ethereum-compatible blockchain that supports smart contracts and allows for dApps not possible on IOTA to be deployed on the mainnet.

The latest bullish news came on November 29, when the IOTA Foundation announced it had secured registration for an ecosystem foundation. The IOTA Ecosystem DLT Foundation is the first of such in Abu Dhabi and will support growth and adoption of IOTA in the Middle East and North Africa (MENA).

This venture is to be powered by a $100 million funding paid for in the native tokens. Can this news help the price?

IOTA price prediction – can bulls retest $0.30

IOTA has pared some of the gains seen on Wednesday, trading to around $0.23. However, the native token of the permissionless distributed ledger technology platform remains above the key technical level of $0.20 after printing vertical gains of over 50%.

IOTA price on the weekly chart

With the foundation set to use IOTA tokens in its operations and quest to grow the DLT ecosystem, the likely scenario has the digital asset coming under increased buying pressure.

If bulls hold above $0.20, a rebound to intraday highs could set this token perfectly for a retest of $0.30. Above this, the first major resistance area could be at $0.36, a rejection point in June and August 2022.

But despite this outlook, IOTA is still in a long-term downtrend. The coin’s value has not hit a bullish trend since nosediving from highs of $2.00 in August 2021. The all-time high was $5.25, reached in December 2017.

Everlodge – fractional real estate investment on the blockchain

The world of investment is growing fast, and nowhere more so than in the realm of blockchain technology. Everlodge seeks to bring this reality to crypto investors with the first property marketplace for fractional ownership of homes, hotels and luxury villas.

Leveraging blockchain, timeshare and non-fungible token (NFT) technology, this platform brings “AirBnb”-style investment onto Web3.

For instance, a luxury villa in an upmarket location can be digitized, with titles and deeds secured on the blockchain via smart contracts. Then an NFT of the property is minted and fractionalized to allow small purchases for investors. These will be possible via the ELDG token.

When this project launches, it will include a marketplace, Launchpad, and lending platform.

Everlodge (ELDG) price projected to rise 280% during presale

Everlodge’s innovative project could be a massive opportunity with the global real estate market estimated at over $280 trillion and the hospitality industry alone at more than $4.5 trillion (as of 2022).

ELDG is an Ethereum-based token that will be the payment currency of the Everlodge ecosystem. It will have a total fixed supply of 800 million tokens. Holders will enjoy bonuses, discounts on trading fees and staking rewards. The project also promises to offer a complete package in terms of what an investor can enjoy, and the presale shows.

There will be a total of 480 million tokens on offer in the presale, with the fundraising target at $12 million.

Having launched with the initial price of $0.01, the value of the token has increased 150% to $0.025. This price is projected to reach $0.035, potentially offering 280% in returns to early birds. These are however only paper gains as investors will only claim their tokens when the project officially launches.

Learn more about Everlodge (ELDG) here.

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Sui surpasses $150M in TVL, showcasing blistering DeFi momentum

Grand Cayman, Cayman Islands, November 30th, 2023, Chainwire

Sui, the pioneering Layer 1 blockchain and smart contract platform created by the technology team that emerged from Meta’s Diem Blockchain project, has accelerated beyond expectations in just over six months since its mainnet launch, surpassing $150 million in Total Value Locked (TVL) according to leading DeFi aggregator DefiLlama. This key milestone, which currently places Sui within the top 20 blockchains in TVL, signifies a growing DeFi ecosystem backed by a deep pool of developer talent and a community that is strengthening by the day.

In addition to its TVL trajectory, which is up over 500% since the start of September, the Sui Network has surged past $100 million in bridged stablecoins. Sui has also surpassed Bitcoin in total historical on-chain transaction count, affirming its capacity for scalability and efficiency, and underscoring the blockchain’s ability to facilitate seamless, secure, and lightning-fast transactions.

The ability to process a high volume of transactions while maintaining peak network performance has supported this DeFi growth, as Sui recently set a new record for the most transactions processed in a single day by any blockchain ever.

“Sui’s rapid ascension reflects both the growing demand for its unique, native technology and a vibrant community that is fueling the growth and adoption of the Sui Network,” said Greg Siourounis, Managing Director of the Sui Foundation. “To reach this level of adoption within months of the network’s mainnet launch is remarkable and bodes extremely well for the future of this burgeoning DeFi ecosystem.”

This level of growth is further supported by a robust network of independent DeFi projects adding value and utility for the community. For example, Cetus, a leading DEX and concentrated liquidity protocol within the Sui ecosystem, also recently achieved a significant feat by surpassing $1 billion in total transaction volume. This accomplishment underscores the depth and decentralization of the Sui Network’s DeFi landscape.

Builders on Sui are also prioritizing relationships and collaborations across the globe, as evidenced by the recent partnership announcement with technology incubator Hub71. With roots in Abu Dhabi, the UAE’s capital, and a large investment base, Hub71 supports over 260 startups, and has committed to introducing UAE-based startups to the Sui ecosystem.

Sui’s ascendancy makes it a growing force in the industry as Web3 braces itself for what many expect to be a period of high growth. With its object-centric model and unparalleled scalability, Sui’s potential for mass adoption arises from its simplicity for developers and rapid transaction processing for broader use cases.

Builders, users, and organizations alike can learn more about the network by visiting https://sui.io.

 

Contact

Sui Foundation
media@sui.io

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This token is up 290% this week, but could the Memeinator beat it to $1 in 2024?

TerraClassicUSD is up 290% amid a positive ecosystem outlook.
Memeinator is a new AI meme token currently priced at $0.014 and in presale.
Could the MMTR beat USTC to $1?

TerraClassicUSD (USTC) is a token on the rise. In the past week, USTC price surged 290%, with the upside coming amid multiple positive catalysts. Meanwhile, the meme coin Memeinator continues to grind through its presale – currently in stage 7 with over $1.6 million raised.

USTC is priced at $0.05 today. Will it reach $1 in 2024? Or will the Memeinator’s MMTR that’s expected to hit a final presale price of $0.049 beat it to the coveted level?

What is TerraClassicUSD and why is its price rising?

TerraClassicUSD (USTC) is one of the tokens to see significant price uptick this past week. The token’s impressive 290% spike saw its value reach $0.07. The upward momentum pushed its price to highest level since June 2022.

Developments in the Terra ecosystem and recent news, including the listing of LUNC Binance futures, have buoyed buyers. USTC is also now tradable against the Turkish Lira (TRY) and the First Digital USD (FDUSD) stablecoin, adding to the potential for further upward pressure.

LUNC burning is another factor likely to prove positive for USTC and analysts see a break above $0.1 as likely to propel USTC towards $1. This is the level the original UST token fell from when it massively depegged in May 2022.

While a complete flip in outlook could see TerraClassicUSD price climb the charts, could the Memeinator have a better run during the bull market?

What is the Memeinator?

The meme coin market is quickly saturating with new projects – spurred by the astronomical gains posted by tokens such as Pepe, Bonk and Memecoin. But as industry players have pointed out, many of the tokens hitting the market are nothing short of scams and poor-quality copycats of Dogecoin and such.

Memeinator (MMTR) is looking to change that outlook. Not only is it laser-focused on destroying all the weak meme coins, it comes equipped with real utility. 

Staking, NFTs and play-to-earn ecosystem are all etched in the Memeinator roadmap. There’s also the $250k Virgin Galactic giveaway that has seen over 600k entries.

The project is designed to utilise artificial intelligence tools to scan the market for subpar projects. This will see the Memescanner bring a gamified assault to worthless meme tokens via the Meme Warfare game. As players annihilate the low-quality memecoin variants, the Memeinator will rise in market cap. The target is $1 billion before going after the big dogs and frogs.

Excitement around this project has seen investors allocate more than $1.6 million to its presale.

Could the Memeinator reach $1 ahead of the USTC?

The meme market in crypto is now worth over $20 billion. Meanwhile, serious projects are popping up to replace bogus ones. What’s likely is that the next Dogecoin, Shiba Inu or Floki may not be far from hitting the market.

With a target of $1 billion in market cap value, the Memeinator looks to be one of the top contenders for the bull market’s new gem. Combining AI and crypto, and offering real value to the community could be a huge catalyst when MMTR hits the exchanges after its 29-stage presale.

By then, the token’s price is expected to have reached $0.049, offering potential gains of 250% on tokens purchased at current presale price of $0.014. If FOMO kicks in across the crypto market in 2024, the MMTR price could reach $0.1. A rally to $0.5 and then $1 going into 2025 might be possible.

However, the crypto market is largely unpredictable as are other markets. Whether MMTR beats USTC to the $1 level could depend on market conditions and other token specific catalysts. But it could be a good long-term bet.

Learn more or join the presale here.

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Alchemy Pay expands crypto payment options in Europe and the UK

Alchemy Pay has integrated Euro Instant solution, SEPA Instant, and Faster Payments
SEPA Instant enables European users to buy up to 5,000 euros in cryptocurrency.
Faster Payments in the UK accommodates transfers of up to 5,000 British pounds.

Cryptocurrency payment platform Alchemy Pay has bolstered its payment infrastructure, introducing new deposit options across Europe and the United Kingdom.

The platform has integrated the Euro Instant solution, Single Euro Payments Area (SEPA) Instant, and Faster Payments in the UK to simplify crypto transactions for users in 30 European countries and the UK, with swift processing times and defined transaction limits.

Enhanced accessibility and transaction flexibility

The move by Alchemy Pay to integrate the various on-ramps in Europe and the UK is a significant strides in expanding its payment options, to offer enhanced deposit channels in Europe and the United Kingdom.

With the addition of the Euro Instant solution, SEPA Instant, and Faster Payments, Alchemy Pay aims to streamline the process of purchasing cryptocurrencies like Bitcoin for its European user base.

European users of Alchemy Pay can now seamlessly engage in cryptocurrency transactions with the introduction of SEPA Instant and Faster Payments. SEPA Instant allows users to buy up to 5,000 euros ($5,460) in cryptocurrency, while Faster Payments in the UK accommodates transfers of up to 5,000 British pounds ($6,320). These transaction limits are designed to cater to varying user preferences and financial needs.

Alchemy Pay’s global expansion

Alchemy Pay’s recent move to support SEPA Instant and Faster Payments in Europe aligns with its overarching strategy of broadening its payment network.

The platform, already supporting 300 fiat payment channels across 173 countries, is actively expanding its services globally.

In addition to SEPA Instant and Faster Payments, Alchemy Pay continues to bolster its support for various local payment channels, including the Polish Blik payment system, Bancontact, Skrill, and others. This diversity provides users with multiple options, ensuring flexibility in choosing their preferred payment methods.

To uphold regulatory standards, Alchemy Pay emphasizes the completion of Know Your Customer (KYC) checks for users in the European markets. This commitment to compliance aligns with the company’s strategy of obtaining licenses in various regions, including recent acquisitions in the United States, Indonesia, and Lithuania.

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Shiba Memu hits $4.6M in presale, but is SHMU worth buying?

Meme coins have shown a resurgence in recent weeks as AI tokens surge.
Shiba Memu presale has raised over $4.6 million with 29 days to the final offer date.
Could this be the opportune moment to buy SHMU?

Data shows AI tokens have been on the rise in recent weeks, helped by a massive forecast for the sector by leading tech companies. Amid this outlook, is Shiba Memu, whose presale countdown is now down to just 29 days, worth buying?

AI tokens have surged in recent weeks

Artificial intelligence-powered tokens have had a decent run in recent weeks. According to data shared by crypto research and on-chain analytics platform Kaiko, AI-related tokens recorded increased trading volumes in November, hitting a peak of $3 billion.

Trade volume for AI-related tokens has surged since the middle of October, led by $RNDR, $WLD, and $FET. pic.twitter.com/iuR2nMIwsY

— Kaiko (@KaikoData) November 28, 2023

Trading volumes have soared since mid-October, with Render (RNDR) Worldcoin (WLD), Fetch.ai (FET) and SingularityNET (AGIX) accounting for the largest share. While the overall upside flip in crypto prices in November might have helped the AI tokens, the broader bullish sentiment around this topic could have played a role.

Analysts forecast the trend to continue, particularly as major mainstream companies like Nvidia, Microsoft, Amazon and Google bet on the success of AI integration. It’s an outlook likely to see solid crypto AI tokens rally in 2024.

As crypto looks to turn the page amid recent events around Binance and its former CEO Changpeng Zhao, could the positive outlook for AI tokens cascade into new projects looking to break onto the scene? Could Shiba Memu be worth buying ahead of the likely bull market?

Shiba Memu – a new AI meme coin

The Shiba Memu’s potential to dominate the memecoin world could come down to its powerful marketing and utility. With AI and crypto already hot topics in the investment space, what Shiba Memu adds is a solid meme-inspired genius.

Natural language processing, predictive analytics and image/video recognition are some of the tools that Shiba Memu deploys to create an AI dashboard set to run memeworld’s self-sufficient ecosystem. The interactive AI dashboard will be a 24/7 marketing machine capable of self-improvement.

Is Shiba Memu worth buying?

Meme coins have returned to the limelight in recent weeks, thanks to breakout performances for the likes of Memecoin (MEME) and Bonk (BONK). Even those to lose momentum as crypto stalled – Dogecoin, Shiba Inu and Pepe – have recorded positive returns in the past month.

As noted, Shiba Memu is a new AI-powered crypto token currently in presale. The huge interest in AI tokens has seen investors hunting for the next gem take positions in its SHMU presale. The project has so far raised more than $4.6 million and with the presale on for the next 29 days only, now could be the opportune time to buy.

SHMU is currently priced at $0.044425 and will continue to rise throughout, with increases programmed to occur every day at 6 pm GMT. 

If analysts’ predictions for AI, Bitcoin and cryptocurrencies materialize in the next 12-24 months, then buying SHMU before the presale ends could be a big move for any investor. However, it should be noted that projections are not a guarantee of future performance. 

Are you are interested in Shiba Memu? Learn more here.

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Philippines’ SEC to restrict Binance access following CEO’s guilty plea

Philippines’ SEC initiates measures to block access to Binance.
Former Binance CEO, Changpeng Zhao, recently stepped down and pleaded guilty in the US.
The Philippines’ SEC advises Filipino users to withdraw investments from Binance within three months.

The Philippines’ Securities and Exchange Commission (SEC) has set in motion measures to restrict access to Binance, the world’s largest cryptocurrency exchange.

This move follows the recent resignation of Binance’s CEO, who pleaded guilty to breaching US anti-money laundering laws. Changpeng Zhao has also resigned from the Binance.US board.

Binance accused of unregistered operations

The Philippines’ SEC asserts that Binance, the crypto giant, is operating without proper registration and lacks the required license to offer securities in the Philippines. The regulatory body has issued an advisory, outlining the removal of access within three months to allow Filipino users ample time to withdraw their investments.

In its advisory, the Philippines’ SEC has urged major online platforms, including Google and Meta, to cease displaying advertisements from Binance within the Philippines. Simultaneously, the SEC warns individuals involved in promoting or convincing others to invest in the platform that they may face criminal liability.

The move by the Philippines’ regulatory body comes days after the former Binance CEO Changpeng Zhao stepped down after pleading guilty to deliberately causing the exchange to fail in maintaining an effective anti-money laundering program.

This development underscores the escalating regulatory scrutiny faced by cryptocurrency exchanges worldwide, as authorities aim to establish robust frameworks to ensure compliance with financial regulations. The SEC’s decisive actions aim to uphold regulatory standards and protect investors within the rapidly evolving landscape of digital assets.

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Grayscale updates its Bitcoin ETF application following SEC talks

Grayscale submits an updated filing for its Bitcoin ETF days after engaging in talks with the SEC.
Amendments include a shift in the fee structure from monthly to daily fees.
Grayscale’s ETF proposal involves the conversion of an existing investment fund.

In a move signalling potential progress in the spot Bitcoin exchange-traded fund (ETF) approval process, Grayscale has submitted an updated filing for its spot Bitcoin ETF just days after engaging in talks with the US Securities and Exchange Commission (SEC).

The amended S-3 prospectus reflects feedback from the SEC, showcasing the company’s responsiveness to regulatory discussions.

Grayscale’s amendments to its Bitcoin ETF application

Grayscale’s latest filing on November 22 involves an amended S-3 prospectus, indicating the company’s commitment to meeting SEC requirements.

While Bloomberg ETF analyst James Seyffart suggests that the changes may not be groundbreaking, it highlights Grayscale’s ongoing dialogue with the SEC. Notable adjustments include a modification in the fee structure, shifting from monthly to daily fees. This move, as clarified by a company spokesperson, is a structural enhancement rather than an immediate fee reduction.

The updated filing comes on the heels of a recent meeting between members of the SEC’s Division of Trading and Markets, Grayscale, and the law firm Davis Polk on November 20. The discussions centred on the listing of Grayscale’s proposed ETF on NYSE Arca, with Grayscale’s CEO, Michael Sonnsenhein, actively participating.

Why Grayscale’s ETF proposal stands out

Grayscale’s ETF proposal stands out in the market, involving converting an existing investment vehicle into an ETF. Despite its uniqueness, the SEC’s engagement with Grayscale is seen as a positive indicator for the broader ETF landscape.

Following a court victory earlier this year, the SEC’s obligation to review Grayscale’s application underscores the evolving dynamics of the Bitcoin ETF space.

Meanwhile, Grayscale Bitcoin Trust (GBTC) trades at a discount of -11.86% below its net asset value, adding an intriguing element to the ongoing developments in the crypto investment arena.

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IOTA announces $100 million Ecosystem DLT Foundation in the UAE

IOTA continues strategic expansion with first DLT Foundation in the UAE’
The IOTA Foundation will allocate $100 million to the initiative.
IOTA price was rallying after the news, up 50% at the time of writing.

IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE).

The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26.

IOTA Foundation allocates $100 million to initiative

Per today’s announcement, an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protocol.

The funding will also go towards community-driven projects and regulatory synergy, the IOTA Foundation said. Among initiatives to receive greater attention will be those targeted at IOTA and Shimmer, its staging network.

On what this means for IOTA’s push to align with regulatory developments, IOTA co-founder Dominik Schiener, said:

“The IOTA Foundation’s support from ADGM and our partnership with UAE authorities is about more than global expansion. It’s about ushering in a new era of regulatory synergy in the crypto markets. We want to ensure that we take the right steps toward digital autonomy for everyone, and that means making sure a diversity of communities take an active role in shaping the Foundation’s technology and governance.”

IOTA’s partnership with the ADGM comes as the UAE increasingly becomes an important international crypto destination. As a leading financial center, the country has attracted several blockchain and crypto-related companies.

Today, stablecoin issuer Paxos announced it had secured two in-principle approvals from the Financial Services Regulatory Authority (FSRA). The company is now set to issue stablecoins and provide brokerage and custody services in the ADGM.

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