Day: November 10, 2023

Solana price hits 17-month high above $54: What next for SOL?

Solana price rose to $54 on Friday, its highest level since May 2022.
SOL has outperformed top altcoins as positive catalysts aid bulls’ push, with price up 40% this past week and 138% over 30 days.
How far can Solana price rise? Data suggests further upside is possible.

Solana continued its outperformance on Friday with another huge green candle as price rose 24% to climb to highs of $54. The cryptocurrency’s value has jumped more than 40% this past week and an impressive 138% over the last 30 days.

According to data from CoinGecko, Solana price has increased by 220% in the past year – reclaiming levels it traded at before the collapse of crypto exchange FTX.

Solana price breaks above $54

Despite recent sell-off pressure, bulls have managed to push SOL price to its highest level since May 2022.

The breakout to this 17-month high comes after buyers regained control at the critical $30 level, with this allowing for further upside to $38. A retest and fresh impetus allowed for this week’s parabolic move to $50.

Solana price chart. Source:TradingView

According to crypto data and market intelligence platform Santiment, Solana’s gains are accompanied by a major spike in crowd discussions about the coin.
While funding rates have flipped higher, they are yet to enter the danger zone. Can SOL see more gains? 

📈 #Solana has now surpassed $54 for the first time since May, 2022. Discussion rates on $SOL have again spiked, indicating the mainstream crowd recognizes the asset’s decoupling from other assets. Funding rates are high, but not in a ‘danger zone’ yet. https://t.co/Tl9jlAsOx5 pic.twitter.com/sG97sCU9Br

— Santiment (@santimentfeed) November 10, 2023

As highlighted earlier, Ethereum, Solana and other altcoins exploded today after news that BlackRock had filed for a spot Ethereum ETF.

Also playing a role in the price surge was this week’s comments by Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). Gensler noted during an interview with CNBC that plans to revive FTX could work if those looking to do so adhered to the law.

Gensler’s comments came at a time when reports indicated that entities looking to reboot the bankrupt exchange had come down to a final shortlist of three companies. It includes Bullish, a digital assets platform founded by a former New York Exchange executive.

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Whale transferred 4.4 trillion SHIB, bearish? InQubeta dominates the ICO space

A recent development that has caught the attention of the crypto community is the transfer of 4.4 trillion Shiba Inu (SHIB), valued at about $35 million. 

This transfer was probably a sale, and it might be the start of a larger selling spree. As a result, investors and traders are bearish and have been positioning themselves accordingly. Meanwhile, InQubeta (QUBE), a new project on the initial coin offering list, is dominating the ICO space following unprecedented demand.

In this article, we will explore the possibility of a drop in the price of Shiba Inu. In addition to this, we will cover what makes InQubeta unique and why it is experiencing a strong wave of interest.

InQubeta (QUBE): a formidable force in the ICO scene

Investors can’t seem to get enough of the new DeFi project, InQubeta (QUBE), which is aiming to reshape the AI sector. It has been a major player in the ICO market, raising over $4.5 million, which has led to it being touted as one of the best ICOs. 

While the focus has been on the advancement of AI and its continuous transformation of the world, AI startups are struggling to thrive in the competitive market. The good news is that InQubeta is seeking to reshape the fundraising landscape of the AI market. This has been the primary appeal of this project, with investors confident in its imminent adoption and growth potential.

The new fundraising model to be introduced by InQubeta will allow AI startups to raise funds via cryptocurrency. To source capital, AI startups will create investment opportunities and represent them as non-fungible NFTs. These will be equity-based and divided into bits, thereby allowing investors to own stakes in lucrative AI ventures. With this move, investors will become early backers of promising projects, which will position them for substantial returns.

This project is in the fifth stage of its presale and costs just $0.0161 per token. Analysts predict its value will rise by 3,000% in 2023, positioning it as one of the best new crypto to invest in. If you wish to become an early adopter of this innovative project, simply click on the link below.

Shiba Inu (SHIB): growing bearish sentiment

Shiba Inu (SHIB) is a key player in the cryptocurrency space, ranking among the top altcoins. It is one of the tokens to popularize the meme coin niche, making it pivotal to the crypto space. In addition to this, it is the second most popular meme coin in the overall crypto market, which shows its dominance. Ultimately, the meme ecosystem is incomplete without mentioning Shiba Inu, which also happens to be one of the best cryptos to invest in.

However, there appears to be a growing trend of large-volume investors, popularly called whales, selling their Shiba Inu holdings. According to the Whale Alert crypto tracker, there was a massive transfer of SHIB recently. The transaction involved 4.4 trillion Shiba Inu tokens, worth approximately $35 million. This transfer was likely a sale or a whale splitting their holdings between several wallets. Regardless, it has resulted in bearish sentiment among investors.

Nevertheless, confidence is expected to improve in the coming weeks. Therefore, Shiba Inu is one of the altcoins to watch in the coming weeks.

Conclusion

While Shiba Inu faces bearish pressure following the growing trend of whales selling their holdings, InQubeta has become a key player in the ICO market. It recently raised a whopping $4.5 million in its ongoing presale and is seeing a wave of investor interest.

For more information about the InQubeta presale, visit InQubeta PresaleJoin The InQubeta Communities.

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Crypto exchange Poloniex hacked for over $100 million

Poloniex has been hacked, with over $100 million in crypto stolen.
Tron founder Justin Sun confirmed the hack, noting a 5% white hat bounty for the hacker.

Cryptocurrency exchange Poloniex has reportedly been hacked for over $100 million after its hot wallets were compromised.

According to data by on-chain data platform Lookonchain, the hacker has moved stolen assets to wallets on Ethereum and Tron as they attempt to cash out the loot.

Poloniex Hacker is selling stolen assets on #Ethereum for $ETH and stolen assets on #Tron Network for $TRX.

Stay safe! #poloniexhackerhttps://t.co/RFi9PHpbyphttps://t.co/6BlwKUOHG5 pic.twitter.com/G6ETnc3Q1M

— Lookonchain (@lookonchain) November 10, 2023

Tron founder confirms hack, offers 5% bounty

Tron founder Justin Sun confirmed the hack in a post on X, adding that the platform was offering a 5% white hat bounty to the hacker.

Sun also said blockchain security platforms were helping to investigate the hack incident. The bounty will stand for up to 7 days before law enforcement are involved. On what happens to impacted user funds, Sun said the exchange was in a healthy financial position and would reimburse all victims.

“Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds,” he noted.

We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023

The attack on Poloniex comes less than two months after another Justin Sun crypto exchange, Huobi, was drained of crypto assets.

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UBS joins HSBC in offering crypto futures ETFs to wealthy clients in Hong Kong

UBS joins the crypto trend in Hong Kong, following HSBC’s lead.
HSBC currently offers Bitcoin and Ethereum ETFs in Hong Kong.
Hong Kong regulators are considering retail access to crypto ETFs, highlighting growing interest from traditional financial players.

Swiss multinational investment bank UBS Group is set to enable select high-net-worth clients in Hong Kong to trade crypto-linked exchange-traded funds (ETFs).

The move is aimed at keeping pace with its competitor, HSBC, which has already incorporated three crypto-related futures ETFs on its investment platform in the city. The authorized ETFs, including Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, have received the green light from Hong Kong’s Securities and Futures Commission.

UBS following in HSBC’s footsteps

The largest bank in Hong Kong, HSBC, has long been a participant in the crypto market. It recently announced that it would start offering Bitcoin and Ethereum ETFs in Hong Kong.

The strategic move by UBS underscores the growing importance of cryptocurrencies in the financial sector and reflects the increasing demand from high-net-worth individuals for exposure to digital assets.

Crypto regulation framework in Hong Kong

Hong Kong’s crypto regulatory landscape is evolving to accommodate the rising interest in cryptocurrencies. The Securities and Futures Commission (SFC) is reportedly contemplating granting retail access to spot ETFs directly investing in cryptocurrency.

Julia Leung, the CEO of the SFC, highlighted the regulator’s openness to proposals utilizing innovative technology to enhance efficiency and customer experience. Recent updates from the SFC include broader investor engagement in crypto ETFs, with a knowledge test requirement for virtual assets for most clients, while exempting institutional investors and qualified corporate professional investors.

In June, Hong Kong officially implemented its crypto licensing regime for virtual asset trading platforms. This regulatory step paved the way for licensed exchanges like HashKey and OSL to offer retail trading services.

The inclusion of major financial institutions like UBS and HSBC in Hong Kong’s crypto market reflects a broader trend of traditional financial players acknowledging and participating in the digital asset space.

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Forecasting the next crypto wave: insights on possible investment opportunities (NUGX, AVAX, MATIC)

Avalanche will lay off 12% of its employees despite the ongoing rally of its AVAX token.
Polygon is also suffering from declining NFT sales. Yet, Polygon’s MATIC token has maintained its bullish performance.
NuggetRush (NUGX) offers the opportunity to win gold and other financial rewards via its play-to-earn mining adventure.

NFT sales have slumped in the past few weeks. Yet Polygon has remained bullish because of its zkEVM. In contrast, Avalanche has confirmed it would lay off 12% of its workforce, largely due to the effects of the bear market.

Still, a project called NuggetRush (NUGX) is pulling investors from all market sectors. Analysts say NuggetRush’s unique offering to the play-to-earn sector could make NUGX a top ICO project. Will these analysts be proven right? Let us discuss.

NuggetRush bridging DeFi and GameFi through NFT staking

Earning rewards for game activity and enjoying more control over game assets is the goal of GameFi. Yet, very few projects can capture that essence like NuggetRush. The game leverages Ethereum’s blockchain technology and high-end game mechanics to produce an adventurous experience with several rewards.

NuggetRush (NUGX) captures the entire mining experience. Players will dig shafts, build tunnels, and use several soil sampling techniques. Using NuggetRush’s (NUGX) character NFTs, players must start and sustain a booming mining business. 

Furthermore, gamers will make wise investment decisions to ensure their mines stay profitable. Some of the character NFTs will have sharp business skills to aid players in their mining adventure.

Players can enjoy the mining experience alone or in groups. They can also compete against other groups of players in battles, ranked plays, and quests. 

Group rewards are shared after players complete challenges. Rewards include in-game money, NFTs, and improved machinery. Players can trade these rewards for money on NuggetRush’s marketplace.

NuggetRush plans to launch its mining game after its NUGX token is listed. Currently, NuggetRush is in Round 2 of its presale, costing $0.012. By Round 3, NUGX’s value would increase by 8.3% to $0.013. NUGX will then be listed when it reaches $0.020.

Avalanche confirms staff cuts

On November 7, 2023, Avalanche’s CEO and founder, Emin Gun Sirer, confirmed that the company would be laying off 12% of its staff. Avalanche’s CEO pinned the staff cuts on the need to reallocate resources and double down on the growth of its ecosystem.

Avalanche’s staff cuts come amid AVAX’s recent price increase. AVAX was trading at $9.73 on October 1. However, AVAX had risen by 25.4% to $12.21 by November 1. It remained bullish, rising by 7.1% to $13.08 on November 6, a day after Avalanche’s CEO confirmed the employee cuts.

Despite AVAX’s recent rally, Avalanche’s CEO admitted that recent bear markets had affected the network’s development. He further said that while bear markets were difficult to navigate, Avalanche would use available resources to advance its ecosystem. 

Some analysts say the recent employee cuts could dampen AVAX’s growth prospects.  They further conclude that AVAX could fall by 22.8% to $10.09 due to disappointment around Avalanche’s workforce reduction. AVAX might not be a good crypto to buy now because of its expected market drop.

Polygon (MATIC) shows resilience despite slump in NFT sale

NFT sales on Polygon (MATIC), one of the most popular NFT projects, have declined since January. Data from OpenSea showed that Polygon NFT sales dropped from $109.12 million in January to $4.5 million in October. However, despite the falling NFT sales, Polygon’s market performance increased.

MATIC was trading at $0.524 on September 30. By October 31, MATIC had risen by 21.3% to $0.636. MATIC maintained its bullish momentum, increasing by 15.5% to $0.735 on November 6.

Polygon’s (MATIC) increasing performance amidst its declining NFT sales could be due to the adoption of its zkEVM scaling solutions. On November 4, one of Polygon’s co-founders revealed that its zkEVM had completed 7 million transactions. 

Furthermore, Polygon’s (MATIC) team has planned big upgrades to its zkEVM. Analysts conclude that the growing popularity of Polygon’s zkEVM could boost MATIC by 11.9% to $0.823.

For more information about the NuggetRush presale, visit the NuggetRush Presale Website.

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JPMorgan enhances JPM Coin with a programmable payments feature

JPMorgan introduces programmable payments for JPM Coin users.
Clients can now automate payments based on preset conditions.
The move aims to enhance flexibility and responsiveness in transactions.

In a strategic move to adapt to the evolving landscape of 24×7 crypto payments infrastructure, JPMorgan has introduced a new feature for users of its blockchain-based settlement token, JPM Coin.

Clients can now leverage programmable payments, allowing them to automate transactions based on preset conditions rather than relying on standing orders for payments to occur at predetermined times.

Adapting to crypto market dynamics

Traditionally, JPMorgan clients had to set standing orders for payments to take place at specific times, limiting their ability to respond dynamically to market events. With the introduction of programmable payments, users can now program their accounts to initiate payments when relevant criteria are met. This includes scenarios such as covering overdue payments or addressing margin calls.

In an email announcement, the bank stated that the “new feature helps clients to respond dynamically to events, which is ever more important as 24×7 payment infrastructure proliferates, and responding to volatility becomes vital.”

The JPM Coin milestone for JPMorgan

JPM Coin, introduced in 2020 to facilitate institutional clients in making wholesale payments on a blockchain, recently achieved a milestone by handling $1 billion in transactions daily. However, this amount represents only a fraction of the $10 trillion that JPMorgan moves on a daily basis.

The addition of programmable payments to JPM Coin aligns with the broader industry trend of incorporating blockchain technology and increasing automation to enhance efficiency and responsiveness in financial transactions.

As the financial giant continues to explore innovative solutions, the move reflects a commitment to staying at the forefront of technological advancements in the financial sector.

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Ether surpasses $2,100 as Shiba Memu’s presale approaches $4.5M

Key takeaways

Ether has crossed the $2,100 level for the first time in months as the crypto market continues to rally.

Shiba Memu’s presale is now closing in on the $4.5 million mark.

The cryptocurrency market has been on a bullish run over the past few days, with the prices of most coins up by over 5%. Ether is one of the best performers in the market and is now trading above the $2,100 level.

Shiba Memu continues to set new milestones for its presale and will soon reach the $4.5 million mark

Ether hits the $2k mark 

Ether, the second-largest cryptocurrency by market cap, is trading above the $2,100 level for the first time in months. The rally comes as the broader cryptocurrency market recorded excellent gains over the last few days.

The positive performance also comes after the BlackRock iShares Ethereum Trust was registered in Delaware earlier this week. Investors are optimistic that the world’s biggest asset management firm will file for a spot Ether ETF soon.

What is Shiba Memu?

Shiba Memu is a Web3 project that continues to attract investors within the cryptocurrency space and beyond. The project is combining the powers of blockchain technology and artificial intelligence to make it easier for individuals and entities to carry out market campaigns.

According to the development team, Shiba Memu will have a wide range of use cases for marketers within the crypto space and beyond. Shiba Memu will handle various activities, including content creation, marketing, social media advertisement, and creative advertisement. 

Shiba Memu will leverage AI to identify the best creative adverts and improve on them to provide superior content marketing services to users. 

The project is launching as a meme token as it seeks to take advantage of the recent surge in the popularity of meme coins. Over the last two years, meme coins saw their market caps grow from practically $0 to $35 billion in 2023. 

Shiba Memu differs from thousands of meme coins in the market because it offers users real-world use cases. It would allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. At the moment, the project is available on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale closes in on the $4.5 milestone

The crypto market has been on a rally over the last few weeks, with most coins trading in the green zone. 

Shiba Memu has continued its excellent presale performance, and the team has now raised roughly $4.5 million. 

The team would use the funds to develop its various products and services. The Shiba Memu team has revealed that most of the funds would be used to develop its AI technology. 

Its platform will also have a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

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

Shiba Memu price prediction

Although altcoins have been rallying over the last few weeks, it is hard to accurately predict Shiba Memu’s price in the near term since the project is still in its presale stage. However, at the moment,  1 SHMU = 0.039925 USDT USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.040150 USDT per token in a few hours. 

During the first presale stage, SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu today?

The cryptocurrency market is having an excellent end to the year and investors might be looking at fresh projects to invest their funds in. Shiba Memu has the potential to become one of the top meme projects in the world, thanks to its utility in the market industry. Leveraging AI and blockchain technologies could see Shiba Memu gain massive adoption in the marketing world. 

At the moment, Shiba Memu’s SHMU is going for a discount price as the project is still in its presale stage. The token could experience a massive surge in price once it lists on cryptocurrency exchanges and gains adoption. 

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Bitcoin trades above $37k: Will it reach the $40k psychological level soon?

Key takeaways

Bitcoin is trading above $37k as the broader crypto market rallies higher. 

Memeinator has now raised more than $1.2 million as its presale attracts more investors.

Bitcoin eyes the $40k level

Bitcoin, the world’s leading cryptocurrency by market cap, has been performing well over the last few weeks. It has added more than 7% to its value in the last seven days and the price of Bitcoin currently stands at $37,100 per coin.

The broader cryptocurrency market has also been rallying, with the total crypto market cap now at $1.4 trillion mark. If the bulls remain in control, Bitcoin could test the $40k resistance level in the short term. 

What is Memeinator?

Bitcoin and the other major cryptocurrencies have been rallying since the start of the week. With the market experiencing a rally, investors could be looking at new projects and Memeinator is one to keep an eye on. 

Memeinator is a Web3 project that is riding the meme coin wave and seeks to provide numerous utilities to users. The team focuses on eliminating worthless memes and improving content creation for users. 

Memeinator also wants to become one of the top meme coins in the cryptocurrency space. The project wants to leverage AI technology to identify worthless memes, allowing investors to know them and avoid them. 

The team pointed out that they will be working hard to ensure Memeinator reaches a $1 billion market cap in the medium term and would achieve this via massive adoption of its platform. 

The Memeinator presale is currently in its sixth stage and the team has raised more than $1.2 million. The MMTR price began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early-bird investors a whopping 132% ROI at listing.

Furthermore, the developers will launch a Memeinator game at the presale’s conclusion. The Memeinator game players will get to eliminate enemy memes to win some exciting prizes. 

Why is the Memeinator presale attracting more investors?

Memeinator continues to attract more investors thanks to its unique project proposition. The project is appealing to a wide range of audiences, from degens to crypto natives and speculators, giving it the opportunity to become a hit in the market. 

The platform will use AI to analyse and evaluate memes on the internet, identifying lower-quality memes to replace or “destroy. Memeinator is also dedicated to uplifting meme culture and quality.

Holders and network participants will be incentivized on the Memeinator network. The MMTR token has some excellent features, such as deflationary mechanisms and rewards for holders, incentivising the project for holders in the long term. 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

Click here to read more about the Memeinator presale.

Is the Memeinator a good investment? 

The Memeinator project has so far raised over $1.2 million since the presale began. The project is an exciting one for investors thanks to its use of AI technology to provide excellent value to investors in the medium and long term.

The team intends to grow the project to a billion-dollar market, and early investors would record huge profits if that happens. With the right level of adoption, Memeinator could become one of the top meme tokens in the cryptocurrency ecosystem. 

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Bitcoin may hit $50,000 before halving, will Everlodge and Shiba Inu follow suit?

The cryptocurrency market is rife with anticipation and excitement as the community gears up for the next Bitcoin (BTC) halving event. 

While the flagship cryptocurrency continues to set the tone for the market, other tokens like Shiba Inu (SHIB) and Everlodge (ELDG) are poised to join the party. 

This article will explore the factors driving Bitcoin towards a potential $50,000 milestone before its halving and how this upward momentum could positively impact SHIB and ELDG.

Bitcoin (BTC) preparing for a remarkable surge

Bitcoin (BTC) is no stranger to price surges. Recently, prominent crypto analyst Michaël van de Poppe has sparked anticipation by suggesting that Bitcoin could surge to $50,000 before its next halving event. 

This optimism is fueled by bullish indicators, including Bitcoin’s rising network activity. Notably, over 700,000 new addresses joined the Bitcoin network on November 4, as reported by crypto analyst Ali Martinez. 

Not only that, the Bitcoin price even reached $35,902 on November 2 – a level not seen since May 2022. The next Bitcoin halving event, which will occur in April 2024, is historically associated with significant price surges, further contributing to the positive sentiment in the crypto space.

Shiba Inu (SHIB) riding its coattails

When Bitcoin experiences a significant price surge, it tends to trigger positive sentiment across the entire crypto market, including Shiba Inu (SHIB). The rise in Bitcoin’s price could propel Shiba Inu to higher levels as investors seek opportunities beyond the leading cryptocurrency.

In recent Shiba Inu news, the project revealed “The Shib Magazine.” This magazine will offer insights into finance and beyond, demonstrating the project’s commitment to expanding its presence and providing valuable content to its community. 

Due to all these reasons, experts predict that the Shiba Inu coin price could experience significant growth. They foresee its value reaching $0.00001620 before the BTC halving event within Q2 of 2024.

Everlodge (ELDG): a hidden gem to watch

Everlodge (ELDG) will be a unique blockchain-based project to revolutionize the real estate market. With its innovative approach to property ownership and passive income generation, ELDG has the potential to attract a wide range of investors. As Bitcoin’s price soars, the increased interest in the market can lead to greater visibility for hidden gems like ELDG.

This upcoming property marketplace will digitize and mint real-world properties into NFTs, subsequently fractionalizing them to allow investors access to the global real estate market (valued at over $280T). As these properties appreciate, so do the NFTs associated with them, providing an opportunity for users to benefit from property value growth.

Furthermore, Everlodge’s Rewards Club offers an additional avenue for passive income. Members can earn free nightly stays across the platform’s properties, similar to timeshare arrangements, with the option to resell these stays, generating a continuous source of passive income.

But the Club will only be accessible to holders of ELDG native tokens. One ELDG token costs just $0.023 in Stage 6 of its presale. But, demand is high as millions of tokens have been sold already. Additionally, unlike Bitcoin and Shiba Inu – ELDG has a low market cap, meaning it will surge faster. Thus, experts predict a rise to $0.038 before its presale ends. 

For more information about the Everlodge (ELDG) presale, you can visit their website here.

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