Day: December 26, 2023

Crypto highlights this week: Shiba Memu presale, SEC deadline for Bitcoin ETF amendments

Shiba Memu on the cusp of market debut as SEC sets deadline for ETF amendments.
The SHMU presale ends on December 30, 2023, with debut on crypto exchanges to follow.
The SEC has asked spot Bitcoin ETF applicants to submit final changes by December 29, 2023.

The crypto market is eyeing what could be a 2024 bonanza, with bullish sentiment around the SEC’s potential approval for a spot Bitcoin ETF the leading catalyst. Alongside a few attractively poised altcoins is Shiba Memu, a presale token that’s on the cusp of its market debut.

Here’s a highlight of the latest crypto news likely to be key this week. Also assess Shiba Memu presale, now down to just three days.

SEC sets Dec. 29 deadline for spot Bitcoin ETF amendments

The anticipation for a first spot Bitcoin exchange-traded fund (ETF) for the US market is set to rise further this week. This is after it emerged that the Securities and Exchange Commission (SEC) has asked all applicants seeking to list the ETF to file amendments to their filings by December 29, 2023.

SEC’s reported deadline for applicants comes after the regulator held multiple meetings with various firms looking to offer spot Bitcoin ETFs last week.

At least two companies were reportedly asked to submit final changes to their appplications by the stated date. Participants during the last meeting with the SEC were told that any applicant that fails to file final amendements by this Friday should not expect to be among the “first wave” of potential approvals.

Confirming the date for final amendments to all S-1s by Friday the 29th. The @SECGov has told issuers that applications that are fully finished and filed by Friday will be considered in the first wave. Anyone who is not will not be considered. In addition, the filings cannot…

— Eleanor Terrett (@EleanorTerrett) December 24, 2023

While the crypto market buzz has cooled amid the holiday trading lull and as Mt.Gox reportedly begins to repay some of its creditors, the overall outlook is that Bitcoin is poised for a prolonged dose of upside pressure.

The altcoin market is similarly poised, and investors out to unlock the next bull cycle gem are betting big on low cap bargain tokens.

Shiba Memu: On the cusp of presale success

Meme tokens have exploded onto the scene in recent months, with resurgences for Dogecoin and Shiba Inu paled by the explosive surge for Solana-based Bonk (BONK). But with the market in the mood for a longer bull rally catalysed by Bitcoin ETFs and halving, investors keen on tapping into the potential of Shiba Memu are flocking to its presale.

The project, which outlines a new artificial intelligence powered meme coin with real-world utility, is now just three days to the presale close. As of December 27, 2023, investors have allocated over $4.8 million into SHMU to support the project’s development.

After the presale, Shiba Memu is expected to make its market debut on top crypto exchanges, likely entering the market during the forecast upward trajectory in Q1, 2024. The unique AI-powered marketing dashboard, staking program and integration with decentralised applications (dApps) is also outlined on the roadmap.

SHMU is currently priced at $0.05028 and could be one of the top meme coins to buy given its potential to redefine how meme-inspired crypto projects gain long term traction. Rather than rely on hype, Shiba Memu will be a self-sufficient marketing machine, capable of challenging the top tokens such as Dogecoin and Shiba Inu.

To check out Shiba Memu’s features and tokenomics, read their whitepaper. You can also join the presale.

The post Crypto highlights this week: Shiba Memu presale, SEC deadline for Bitcoin ETF amendments appeared first on CoinJournal.

If BONK can 10x, Solana phones will be worth $7000; meanwhile GFOX heads for $2 million

Crypto has shocked the world yet again, and as open interest heats up, it is clear that risk-on market participants will thrive in the coming two years. Speculative appetite is up, and following the Bitcoin (BTC) Spot ETF approval anticipation, a dramatic industry repricing will occur.

According to many, anybody who bought a Solana (SOL) Saga, which recently sold out in the US, should HODL the phone! If Bonk (BONK) can 10X the Solana phones will be worth $7,000. But the real top crypto to buy now is Galaxy Fox ($GFOX), which heads for $2 million and promises one of the best price discovery phases of any token in 2024.

Saga sales turnaround: a strange success story

Saga, a mobile phone released by Solana, was the first piece of hardware created by a layer one blockchain. Although sales were dismal and founder Anatoly even backpedalled on the product, stating it was an experiment in a podcast, the enormous surge of $BONK has breathed new life into the market. 

Each phone comes loaded with an airdrop of 30 million $BONK, and if Bonk can 10x, the Solana phones will be worth nearly $7,000. Not bad for a phone that costs $599! The rampant increase in BONK’s valuation has single-handedly reversed the fortune of the Saga and driven the phone from a lack of sales to being sold out. A secondary market has even emerged, with people paying thousands of dollars for new, unopened Sagas.

Will Bonk become retrospectively the best crypto to buy in 2023? For those early enough, certainly, but memecoins have a pre-ordained life cycle, and when Tier 1 centralized exchanges list them (Binance and Coinbase), the trade is already over. For those that missed $BONK, the top crypto to buy now and the next big opportunity is $GFOX.

Galaxy Fox ($GFOX) aims at $2 million next step $5 million

Galaxy Fox continues raising and has blown past its competitors when it comes to funding. Steadily closing in on $2 million and with $5 million as the next target, the natural question is just how high this P2E token can go. Early momentum paints a wonderfully accurate picture of future performance and judged on this metric, $GFOX is the top crypto to invest in before the end of 2023.

This play-to-earn token is expanding the boundaries of what it means to be a P2E project. Instead of just the top-ranked players earning rewards, Galaxy Fox has enabled the entire community to earn thanks to its introduction of staking rewards. 

Beyond this, the ecosystem provides novel ways for skilled market actors to generate profit, including an NFT marketplace. NFTs grant in-game stat bonuses, and logic dictates that as the prize pool for its runner game grows larger, the floor price of NFTs will climb as the stat boosts they confer grow more valuable. Mint an NFT early and flip it as the prize pool climbs? Could it be the best meta-trade within this cosmic ecosystem?

Analysts have already forecast 100x gains in 2024, citing the protocol’s intricate taxation system, which funds staking payouts, the liquidity pool, and the Treasury. Taxes funding staking rewards means no long-term inflation. Tokenomics are deflationary, allowing value to accrue steadily over time. The Treasury funds ecosystem development initiatives, meaning more activity will equate to more new users, and a flywheel will activate. 

Closing thoughts: memecoins & P2E tokens primed to explode in 2024

The meta in the last quarter of 2023 has certainly been memecoins, and Bonk’s outrageous performance offers testament to this statement. Heading into 2024 this trend will remain intact, and GameFi is expected to become another dominant market vertical. 

To learn more about $GFOX, visit Galaxy Fox Presale or join the Community.

The post If BONK can 10x, Solana phones will be worth $7000; meanwhile GFOX heads for $2 million appeared first on CoinJournal.

Mt. Gox creditors receiving long-awaited repayments

Mt. Gox creditors confirm Japanese Yen refunds via PayPal after a decade-long wait.
Mt. Gox’s 2014 collapse, losing 950,000 Bitcoins, triggered years of legal battles.
The extended repayment timeline could influence 2024 market dynamics.

After a decade of anticipation, creditors of the infamous Mt. Gox Bitcoin exchange are finally receiving repayments for their locked-up funds. Recent reports on social media, particularly Reddit, suggest that Mt. Gox has initiated the distribution of Japanese Yen-denominated refunds through PayPal. This comes a few months after Mt.Gox hinted at making BTC payouts before the end of 2023.

The development marks a significant development in one of the largest cryptocurrency exchange collapses, where approximately 950,000 Bitcoins worth $450 million vanished in 2014, leaving creditors in limbo for years.

A decade-long wait

On December 25, users on the mtgoxinsolvency Reddit page shared their experiences of receiving Japanese Yen-denominated refunds via PayPal. Among them, Free-end254 posted a screenshot of a PayPal receipt, confirming the receipt of funds. Another user, initially sceptical, later verified the legitimacy of the payment in their PayPal account.

This development follows an announcement in late November by Mt. Gox trustee Nobuaki Kobayashi, revealing plans to initiate repayments in cash in 2023, with expectations of ongoing payments throughout 2024.

While official confirmation from Mt. Gox is still pending, these user reports suggest a significant step forward in compensating affected creditors.

Mt. Gox’s complex history of loss and legal battles

In February 2014, Mt. Gox, once among the largest Bitcoin exchanges, faced a catastrophic event, losing around 950,000 Bitcoins, valued at $450 million. The exchange’s claim of an additional 100,000 missing Bitcoins further exacerbated the crisis. The exact reasons behind the theft remain unclear, but a combination of poor security measures and potential insider involvement was suspected.

The loss had a profound impact on Mt. Gox’s creditors, who deposited their Bitcoins with the expectation of easy withdrawals. However, the exchange’s collapse left these funds trapped for almost a decade.

Creditors resorted to legal actions against Mt. Gox and its former CEO, Mark Karpeles, in an attempt to recover their losses.

Mt. Gox repayment process

In late November, Mt. Gox creditors received an email from trustee Nobuaki Kobayashi, outlining the plan to initiate repayments. The distribution process involves utilizing funds from asset sales and recovered Bitcoin. Although the repayment timeline extends into 2024 due to varying processing times, this marks a significant stride toward closing the chapter on a complex and protracted legal battle.

The extended repayment period may potentially impact the Bitcoin market, as creditors, finally gaining access to their assets, could choose to sell or exchange their crypto holdings. With the court allowing an extension until October 31, 2024, Mt. Gox creditors are now on the cusp of reclaiming a portion of their long-lost investments.

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