Day: January 8, 2024

Injective (INJ) eyes new all-time high as Bitcoin surges to $46k

Injective (INJ) price has surged 14% in the past 24 hours as bulls crossed above $40. 
INJ is targeting a new all-time high above $44, with the gains coming amid a new upside for Bitcoin that saw BTC soar to $46k.

An infusion of fresh impetus has seen the price of Injective (INJ) rise sharply. As most altcoins looked to spark into life after Bitcoin rose above $45k, Injective’s native token was trading more than 14% up over the past 24 hours. Trading volume has jumped 61% in the same period to over $439 million.

Meanwhile, Bitcoin price was trading near the $46k level, up 4% in 24 hours. BTC reached highs of $46,165 on crypto exchange Bitstamp as Bitcoin ETF sentiment ramped up.

INJ price soars ahead of major token unlock

While the upside faces a hurdle near the all-time high of $44.57 reached on December 24, 2023, there’s a potential impactful event set for the next few days. 

According to data shared by tokenomics insights platform Token Unlocks, Injective is headed for its final token unlock.

The notable event will activate on January 21, 2024, with 3.66 million INJ worth about $152 million (at current prices) unlocked. This will see Injective’s total circulating supply bumped to the total supply of 100 million INJ. The unlocked coins will account for about 4.3% of the cryptocurrency’s circulating supply.

🚨 Final Cliff Unlocks Alert 🚨

Mark your calendars for January 21, 2024$INJ will be fully unlocked (100%)

Get ready for the massive cliff unlocks.
🪙 3.66 m tokens
💰 132.4 m dollars
🌀 4.35% of cir. supply

Allocations:
– Advisors: $12.04 m
– Team: $120.37 m$INJ was… pic.twitter.com/EYCyv4hsuC

— Token Unlocks (@Token_Unlocks) January 7, 2024

As the Injective ecosystem braces for the significant influx of tokens, traders are also likely to keep an eye on overall market sentiment. This is because there’s a broader bullish outlook as the industry anticipates the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC).

Although price is likely to drop as the new supply injects downside pressure, INJ could benefit from a rallying market. Target price levels amid potential price discovery will include $100 in the short term. On the flipside, INJ could face a retest of primary support below $20.

At the time of writing, Injective changed hands around $42.21 – just over 5% off its ATH.

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Bit24.cash faces backlash after reports of KYC data breach

Bit24.cash, an Iranian exchange, faces KYC data breach affecting 230K users.
Research uncovers misconfiguration, exposing passports, IDs, and credit cards.
Conflicting claims between Cybernews and Bit24.cash prompt user concerns.

Bit24.cash, a prominent Iranian cryptocurrency exchange, is under scrutiny following reports of a significant security breach.

Cybernews researchers uncovered a misconfiguration in the platform’s cloud storage system, leading to unauthorized access and exposing sensitive Know Your Customer (KYC) data of nearly 230,000 users. The incident raises concerns about user data protection in the cryptocurrency industry, as conflicting narratives emerge between the research findings and Bit24.cash’s official response.

Passports, IDs, and credit cards info compromised

The research by Cybernews exposed a misconfiguration in the exchange’s cloud storage system, providing unauthorized access to KYC data.

The compromised information includes passports, IDs, credit cards, and written consent to regulations for approximately 230,000 users. This breach underscores the vulnerability of user data and prompts users to question the safety of their personal information.

Conflicting claims and reassurances

In response to Cybernews’ allegations, Bit24.cash spokesperson and security engineer Hossein Amini refuted the claims, stating the report was inaccurate and misleading. Amini asserted that there was no evidence of a data breach or unauthorized access to user information.

Contrary to the research findings, Amini confidently declared the security and integrity of the MinIO instance and cloud storage containers, emphasizing their commitment to user security.

Ramin Moradi, the Bit24.cash CTO, also stated on X that Cybernews has not given any evidence on the security breach and as such he cannot I can’t confirm their claim.

Unfortunately Cybernews has spread this article without giving any evidence to us. As https://t.co/uz9oRkpVgH‘s CTO I can’t confirm their claim.

— Ramin Moradi (@sudoramin) January 8, 2024

Bit24.cash also stated that after “careful investigation, our technical team found the claims to be false and misleading.” They also went ahead to give a number of reasons through a thread of X (formerly Twitter) supporting their conclusion.

Impact on the Iranian crypto market

Bit24.cash, alongside other Iranian crypto exchanges, has been a significant contributor to the country’s crypto market. In 2022, these platforms accounted for 12% of all funds flowing to Iranian exchanges.

The reported security breach not only raises concerns for individual users but also highlights potential repercussions for the broader cryptocurrency ecosystem in Iran. Users are now urged to seek clarification from Bit24.cash support amid the conflicting narratives.

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Lark Davis Sees Ethereum (ETH) to $10,000; Cardano (ADA) and Rebel Satoshi ($RBLZ) Prepare for Rally

Renowned Crypto YouTuber Lark Davis recently took to social media to express his bullish sentiment on Ethereum. He firmly believes that Ethereum will eventually soar to a staggering $10,000. Such a price tag would signify a remarkable 321.52% increase from its current value of $2,370. 

While Davis didn’t specify a timeline, his confidence underscores the growing optimism surrounding Ethereum’s future prospects.

Recent Milestones for Ethereum and Bitcoin

On-chain data from Santiment reveals that both Ethereum and Bitcoin are approaching new milestones. Ethereum is now just 1.6% away from its highest value since 11 May 2023. Meanwhile, Bitcoin is within a 2.9% range of its peak value since April 6 of last year. These near highs suggest a renewed bullish sentiment for the crypto market leaders.

Further insights from crypto analyst Michaël van de Poppe suggest that Bitcoin may soon enter a range-bound phase post-ETF approval. However, this could pave the way for Ethereum to make significant strides, potentially surging past $3,000.

In-Depth Analysis Highlights Ethereum’s Strengths

A recent blog post by crypto researchers Qiao Wang and Dan McArdle delves into Ethereum’s unique position in the crypto landscape. Drawing parallels with Bitcoin’s status as “digital gold” and Solana’s efficiency, they underscore Ethereum’s distinctive advantages. The Lindy effect, which posits that the longevity of a technology signifies its continued relevance, is particularly relevant to Ethereum, given its nearly decade-long presence and resilience.

The duo also emphasizes Ethereum’s regulatory edge, notably its ETH futures contract on the CME, a privilege shared only with Bitcoin. This has instilled a level of confidence among regulators, particularly the SEC, distinguishing Ethereum from other cryptocurrencies.

Additionally, Ethereum’s strategic alliance with Coinbase via the Base rollup positions it advantageously in the compliant DeFi space. Post-EIP1559 and the Merge, Ethereum’s ‘real yield’ feature has become a magnet for institutional investors seeking crypto-based yields.

Cardano’s Market Movement

Shifting focus to Cardano, one of the top altcoins that has been consolidating in the $0.600 to $0.650 range. Despite facing a supply zone hurdle between $0.631 to $0.678, Cardano’s price action indicates persistent buying interest. While there’s potential for a short-term retracement, especially if the price breaches the uptrend line, the overall sentiment remains positive.

A Closer Look at Rebel Satoshi

While Ethereum and Cardano continue to make waves, another crypto to watch is Rebel Satoshi ($RBLZ). With an impressive presale of over 96 million $RBLZ and having raised $1.3 million, the project is gaining traction. 

Built on Ethereum, Rebel Satoshi stands out for its robust security measures, having undergone thorough auditing by Source Hat. This is one of the many reasons why many top crypto analysts regard it as one of the best meme coins.  As the presale edges closer to $2 million, now might be the opportune moment for investors to consider this promising venture.

In conclusion, the crypto landscape is rife with opportunities and predictions. While Ethereum’s potential ascent to $10,000 excites many, altcoins like Cardano and Rebel Satoshi also present unique investment avenues. For those looking for which crypto to buy today for the long-term, Bitcoin is almost a sure bet. However, as always, due diligence and staying informed are paramount in navigating this dynamic market.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

The post Lark Davis Sees Ethereum (ETH) to $10,000; Cardano (ADA) and Rebel Satoshi ($RBLZ) Prepare for Rally appeared first on CoinJournal.

Web3 Sports Fantasy Manager Maincard.io is Breaking into Esports with Big-Name Partnerships

Irvine, United States, January 8th, 2024, Chainwire

Maincard.io, a cutting-edge Web3 sports fantasy manager focusing on sports event prediction and earning rewards by playing, has officially entered the esports arena. This significant move was marked by the formalization of a contract with Community Gaming, a platform for hosting eSports tournaments, and the signing of an ambassador agreement with B8, a prominent Ukrainian eSports organization founded by Danil “Dendi” Ishutin.

Maincard’s Full-Fledged Presence in Esports

In 2024, Maincard.io aims to allocate up to $500,000 to engage with the world of esports, with the clear objective of establishing a notable and influential presence in the industry. A contract was recently formalized with Community Gaming, a platform that specializes in hosting esports tournaments. Maincard.io intends to host three Dota 2 tournaments for Tier 1 and Tier 2 teams, along with a significant tournament in Los Angeles towards the end of 2024.

Nikki Elise, the Global Event Ops Manager of Community Gaming, said: “Community Gaming is excited to partner with Maincard, marking a new era in the world of Dota2 events. Together, we are set to deliver a series of tournaments that promise high-caliber competitive action, new technologies, and an engaging experience for both players and fans.”

Ambassador Agreement with B8: A Strategic Move

The agreement with B8, founded by the famous Danil “Dendi” Ishutin, is a strategic move for Maincard.io. Dendi is a Dota 2 champion, an influential esports figure, and an accomplished streamer; Dendi’s contributions have left an indelible mark on the esports community. B8, known for its focus on Dota 2 and Counter-Strike, ended 2023 on a high note with its performance in the Dota 2 EPL Season 14 tournament. This strategic alliance positions Maincard.io to leverage Dendi’s influential presence and the collective achievements and prowess of his entire team, creating a dynamic partnership that extends beyond ordinary sponsorship.

Valerii Makovetskii, CEO of Maincard.io, Reflects on the Partnership: “We are happy to support promising teams with great leaders. B8 is an excellent partner to spread the word about Maincard’s mission, which is Blockchain mass adoption among the most crowded and growing industry — Gaming.”

Dendi, Founder of B8, Shares His Thoughts: “B8 is thrilled to partner with Maincard.io. This partnership opens exciting avenues for engagement and offers a cutting-edge platform to bring gaming and blockchain technology closer. We’re eager to embark on this journey with Maincard.io, pushing the boundaries of gaming and tech together.”

Looking Ahead: Celebrity Partnerships and Special Game Cards

In addition, Maincard.io has ambitious plans to collaborate with renowned celebrities from the esports world, thereby expanding the roster of ambassadors. Furthermore, the company intends to create a special collection of game cards featuring all esteemed ambassadors.

Users should stay tuned, as Maincard.io promises more excitement, innovation, and advancements at the crossroads of esports and Web3 technologies. The goal of Maincard.io is to increase engagement within the esports community in Web3. These strategic agreements are designed to establish Maincard.io as the center of attraction in the esports community, providing a unique and technologically advanced experience for fans.

About Maincard.io

Maincard.io is a Web3 sports fantasy manager that allows users to potentially earn by playing. Using a free-to-play model, Maincard.io is dedicated to introducing Web3 concepts to audiences through engaging and enjoyable experiences. The platform extends its development into various sports areas for predictions, including esports, NBA, Football (English Premier League, La Liga, Bundesliga, Serie A, Ligue 1, etc.), NFL, NHL, MMA, MLB, Cricket, etc.

For more information users are invited to follow Maincard.io on:

Website
Twitter
Discord
Telegram
Medium

 

Contact

CEO
Valerii Makovetskii
Maincard.io
hello@maincard.io

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BTC retests $45k as BlackRock, VanEck, Bitwise file low ETF fees

Monday has seen a flurry of final filings from issuers eyeing approval to list spot Bitcoin exchange-traded funds (ETFs). After BlackRock, VanEck and Ark/21Shares submitted their final changes with low fees, Bitwise intensified the “fee war” with a 0.24% fee rate.

This is after BlackRock set its fee at 0.30% and VanEck and Ark/21Shares at 0.25%. Last week, Fidelity had filed its amended S-1 to show a 0.39% fee. Today’s filing by Bitwise also highlighted a 6-month waiver that means it starts at 0.00%. Meanwhile, BlackRock has indicated a waiver to 0.20%.

Bloomberg ETF analyst James Seyffart shared the update below showing the state of play in terms of what different issuers are proposing.

WOW: This morning was wild for #Bitcoin ETF filers. Here’s the state of play on the fee war front. Lowest long term fee is @BitwiseInvest at 0.24% followed closely by @vaneck_us at 0.25%. But we also have fee waivers on 3 for 6 months down to 0.0%. Plus BlackRock waiver to 0.20% pic.twitter.com/8bfhtFHOfH

— James Seyffart (@JSeyff) January 8, 2024

Bitcoin price jumps as “fee war” erupts

Eric Balchunas, a senior ETF analyst at Bloomberg had earlier commented on the potential for the price war, or “ETF terrordome” intensifying ahead of approval. Are crypto exchanges going to lower their own fees in the wake of this move? 

The analyst suggests they may have to do it before it’s “too late.”

Balchunas also commented on Grayscale Investments’ fee rate that has dropped from 2% to 1.5%, noting the crypto firm’s considerably higher fee could see financial advisors pick the “sub 40 bps” rates offered by the traditional finance heavyweights.

Wow, Grayscale totally defying Terrordome (which they are not natives of) which usually doesn’t work out well but maybe they can afford to given their massive embedded aum and volume. Hard to imagine advisor (where the big money is) picking a 1.5% ETF when others sub 40bps. https://t.co/T60yz3hlXh

— Eric Balchunas (@EricBalchunas) January 8, 2024

Bitcoin price has jumped 1.5% in the past hour to trade above $45,000 as attention turns to the SEC. Most analysts say the go ahead for exchanges to list the ETFs could be given by Wednesday, January 11.

The nod, coming at the beginning of a year expected to be big for the bulls, could see BTC price surpass $50k in coming days. Predictions for this cycle is that Bitcoin could hit $100k or more.

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Honduras’ Próspera Zone recognizes Bitcoin as an official unit of account

Próspera Zone in Honduras officially recognizes Bitcoin as a unit of account, expanding financial freedom.
Acting manager Jorge Colindres leads the initiative, emphasizing the right to financial flexibility.
Despite temporary limitations, entities opting for Bitcoin can calculate tax obligations internally.

In a significant development, the Próspera Special Economic Zone (SEZ) in Roatan, Honduras, has officially recognized Bitcoin (BTC) as a unit of account, further solidifying its commitment to financial innovation.

This move comes less than two years after the region embraced Bitcoin as a legal tender, demonstrating a progressive stance toward the integration of cryptocurrencies into the traditional financial system.

Aiming for financial freedom

Jorge Colindres, the acting manager and tax commissioner of Próspera Zone for Employment and Economic Development (ZEDE), spearheaded this initiative, aiming to provide greater financial flexibility to residents and businesses operating within the SEZ. Colindres, in a January 7 announcement on X, emphasized the belief in the right to financial and monetary freedom, asserting that individuals should be free to conduct transactions, manage accounting, and report taxes in the currency of their choice.

En @ProsperaZEDE creemos en el derecho a la libertad financiera y la libertad monetaria. Las personas deben ser libres de realizar transacciones, llevar su contabilidad y reportar impuestos en la moneda de su libre elección. #Honduras #BTC https://t.co/nlaFLtheRL

— Jorge Colindres (@GeorgeColindres) January 7, 2024

While the decision has been celebrated for its potential to enhance financial freedom, Colindres acknowledged certain temporary limitations. The “Final BTC Tax Payment Procedure” is currently on hold due to technological challenges with the eGovernance system and external regulatory obstacles. Despite this, entities opting for Bitcoin will calculate tax obligations using BTC internally, reporting them to Próspera ZEDE in either US dollars or the Honduras lempira.

Colindres assured that once these challenges are addressed, businesses can directly report and settle tax dues in BTC to Próspera ZEDE.

For businesses interested in adopting Bitcoin as their primary currency, a formal request must be submitted to Próspera’s tax committee within 30 days of the relevant tax period. This request should reference an approved cryptocurrency exchange, such as Coinbase or Kraken, emphasizing the SEZ’s commitment to ensuring compliance and legitimacy in the adoption process.

Próspera ZEDE zone in Roatan Island

Próspera ZEDE, launched in May 2020 on the northern island of Roatan, continues to position itself as one of the most competitive special regimes in Latin America. With over $100 million received in its three-year tenure and the creation of more than 3,000 jobs across the country, Próspera stands as a testament to Honduras’ commitment to embracing innovative financial solutions.

This move follows in the footsteps of El Salvador, Honduras’ neighbouring country, which made history by adopting BTC as legal tender in 2021. As Próspera ZEDE pioneers the recognition of Bitcoin as a unit of account, it sets a precedent for other regions considering similar measures to embrace the ever-evolving landscape of digital currencies.

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Memeinator price prediction as Bitcoin, crypto eye big week

As Bitcoin price looks to break higher amid spot Bitcoin ETF sentiment, analysts are bullish on altcoins.
Memeinator (MMTR) is also well-positioned as its presale attracts more investors.
The MMTR price could explode amid the bull market.

While altcoins have struggled amid Bitcoin’s resilience near the $44k area, the overall outlook is that the market is poised for a parabolic move. 

Memeinator, the meme coin that has stirred investor attention amid a strong presale showing, could be one of the tokens to explode amid a thrilling bull market.

Here’s its price outlook ahead of a likely market-defining week for crypto in 2024 and beyond.

Analysts are bullish on altcoins

According to one analyst, the big crypto event this week remains the anticipated approval of spot Bitcoin ETFs – the first such approval in the US. 

ETF experts have put the chances of approval as high as 90%, with this likely to increase given recent engagements between the US Securities and Exchange Commission (SEC) and issuers. These include BlackRock, which reportedly has $2 billion in investment funds ready for the ETF roll out.

Alistair Milne, the CIO of Altana Digital Currency Fund, shared his view of the ETF outlook via X on Monday, January 8. With this the final day for S-1 filings, Milne suggests a SEC vote or decision on Wednesday, January 11 could see spot Bitcoin ETF trading in the US roll out on Thursday or Friday.

If approval is the SEC’s decision and a nod to one or more the outcome, BTC price could erupt significantly. 

Analyst Michael van de Poppe says bullish traction will shift to alts after the ETF approval. Ethereum, predicted to surpass the previous all-time highs of $4,800 could lead the altcoin market.

Elsewhere, the overall injection of upward momentum will accelerate presale projects, with a few breakout tokens standing out as the expected bull market strengthens.

Is this the outlook for Memeinator (MMTR)?

Memeinator is a new meme crypto utilizing AI – which combined with its genuine utility proposition, has it poised for potential dominance of the meme coin space.

A presale for the native token MMTR has quickly become one of the most-talked about across the crypto community, particularly on X (formerly Twitter). After registering a slow start in the first 8 stages of the sale, the MMTR token sale raced through three more stages in just over two weeks.

At $3.1 million out of an expected $3.2 million in stage 11, this show of investor confidence suggests the potential for post-presale price growth is increasing. The funds will go to the project’s development, with the official launch across top exchanges helping drive liquidity and adoption.

This could position Memeinator well ahead of the many worthless meme tokens, whose lack of utility is a major downside.

At current presale price of $0.0186, MMTR has the potential to return 65% when the presale ends and tokens are available to holders.

With analysts predicting major gains for altcoins and meme coins having outperformed in recent months, Memeinator stands a good chance of establishing itself as a major player in the meme coin space.  The price of the native token could therefore explode as the market cap rises towards the targeted $1 billion mark.

Get more on this project, including its play-to-earn game and staking, from their whitepaper. Meanwhile, the presale is accessible here.

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