Category Archives: Cryptocurrency
Marijuana Banking, Cryptocurrency Regulation May Be Combined Into Single Bill – PYMNTS.com
Proposed rules for marijuana banking and cryptocurrency regulation may be combined into a single bill.
The legislation has not been finalized, but there have been talks in the U.S. Congress about combining a cannabis bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, and a stablecoin measure, Marijuana MomentreportedSunday (April 14).
Senate Majority Leader Chuck Schumer (D-NY) has said that he aims to pass legislation to safeguard cannabis banking and achieve that in the weeks and months ahead, according to the report.
The SAFER Banking Bill has been awaiting action by the Senate since being passed by the Senate Committee on Banking, Housing and Urban Affairs in September 2023, Seeking AlphareportedMonday (April 15).
The bill could impact a number of multistate operators and cannabis exchange-traded funds (ETFs), according to the report.
It was reported April 1 that while more than half of all Americans live in a state that has legalized marijuana, banks wont work withcannabis sellersbecause the drug is still illegal under federal law.
As a result, legitimate cannabis businesses still find themselves wondering what to do with all their cash, as it is nearly impossible for them to accept payments in anything other than cash.
While the U.S. House has passed a bipartisan bill that would make it easier for cannabis companies to find banking services, the Senate has never voted on its version. However, that vote could come this year.
Some saw a possible opening of the door to more cohesive payments systems in the sector in August 2023, when U.S. health officials recommended easingrestrictions on cannabisand reclassifying it as a Schedule III drug under the Controlled Substances Act.
Currently, cannabis is classified as a Schedule I substance, which implies a high risk of abuse and no accepted medical use. If cannabis were to be reclassified as a Schedule III drug, it would be seen as less dangerous and could be obtained legally with a prescription.
As an indicator of the size of potential business payments, the business-to-business (B2B) cannabis platform LeafLinkreported that it passed the $1 billion transaction mark in September 2022 with its payment solutions and expected more growth.
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Marijuana Banking, Cryptocurrency Regulation May Be Combined Into Single Bill - PYMNTS.com
Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving – Investopedia
Key Takeaways
Bitcoin (BTCUSD) traded flat while spot bitcoin exchange-traded funds (ETFs), which have been driving up bitcoin demand and consequently its price, experienced a rare week of net outflows as the markets geared up for the halving event later this week.
Uniswap Labs received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Monad Labs raised $225 million from Paradigm and others.
Last week, U.S. spot bitcoin ETFs experienced net outflows, a rare occurrence that has only happened three times since these funds were introduced in January.
Between April 8 and April 12, the category, which comprises 11 funds, reported a loss of about $83 million in assets, according to data from BitMEX Research. This represents a significant swing from the previous week's net inflows of $485 million. Despite this setback, spot bitcoin ETFs have amassed $12.5 billion in net positive inflows since they were launched.
Notably, the Grayscale Bitcoin Trust ETF (GBTC) continued to post a decline, with $767 million exiting the fund last week alone. In contrast, other leading funds such as BlackRocks iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) brought in $487 million and $90 million, respectively, but these gains were insufficient to counterbalance the substantial outflows from GBTC.
Demand generated by spot bitcoin ETFs has been credited for the recent rally in bitcoin prices, and it is also considered a key differentiator for the upcoming bitcoin halving versus prior instances.
Decentralized crypto exchange Uniswap last week disclosed receiving a Wells notice from the SEC, indicating impending enforcement actions.
This led to a sharp drop in the price of Uniswap's native token, UNI, falling from above $11 before the news broke to under $8. Uniswap Labs CEO Hayden Adams shared his disappointment and readiness to contest the charges on X. Wells notices serve as preliminary alerts about potential regulatory charges and often precede formal enforcement actions.
The SEC's concerns centered on allegations of Uniswap operating as both an unregistered securities broker and exchange, Uniswap executives Mary-Catherine Lader and Marvin Ammori clarified at a press conference, according to CoinDesk. The specifics of whether UNI itself might be classified as a security weren't clear from the notice. Ammori referenced a favorable recent court decision for Coinbase, which he sees as a positive indicator for Uniswap's defense against similar charges.
Monad Labs has secured $225 million in a funding round led by Paradigm, enabling the company to expand its team and advance the development of its blockchain, which is designed to contend with Ethereum.
This financial backing aims to transition Monad's test version of its blockchain into a full production stage. Its Layer 1 blockchain maintains compatibility with the Ethereum Virtual Machine (EVM). According to Monad's announcement on Substack, the EVM processes more than 96% of all investments in decentralized finance (DeFi).
While Ethereum is currently limited to processing fewer than 20 transactions per second, Monad's newly operational testnet, launched in March, demonstrates a capacity to handle approximately 10,000 transactions per second. This significant increase in transaction throughput is part of a broader trend in the crypto community, which sees various entities, including both Layer 1 and Layer 2 solutions, striving to enhance DeFi's efficiency. Monad's approach incorporates parallel execution to significantly boost performance across the protocol.
This round of funding also attracted investments from several notable firms, including Electric Capital, Castle Island Ventures, Animoca Ventures, Coinbase Ventures, and CoinFund, underscoring broad industry support for Monad's technology.
All eyes are on the anticipated bitcoin halving this week, as the fourth iteration of the scheduled decrease in the cryptocurrency's issuance rate is expected to take place by the end of the month.
Halving, which occurs after every 210,000 blocks, or roughly every four years, cuts the pace of new bitcoin mined and halves miner incentives.
While previous halvings have led to bull runs for bitcoin in the past, multiple industry reports have indicated the spot bitcoin ETF market may have a bigger impact on the cryptocurrency's supply-and-demand dynamics at this point.
Despite the upcoming decline in bitcoin-denominated revenue for miners, it's possible miners could enjoy an increase in revenue in dollar terms due to the potential for a bitcoin price run-up combined with the developments of Ordinals and various Layer 2 networks.
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Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving - Investopedia
Schumer And Key House Lawmakers Discuss Merging Marijuana Banking Bill With Cryptocurrency Reform – Marijuana Moment
Bipartisan congressional lawmakers from the House and Senate are discussing the possibility of combining cyptocurrency regulation legislation with a marijuana banking bill.
Senate Majority Leader Chuck Schumer (D-NY) raised the topic with House Financial Services Committee Chairman Patrick McHenry (R-CA) and Ranking Member Maxine Waters (D-CA) on Thursday, a source familiar with the conversation confirmed with Marijuana Moment.
The legislation has yet to be finalized, but the prospect of merging the Secure and Fair Enforcement Regulation (SAFER) Banking Act with the stablecoin measure comes amid heightened expectations about the Senate moving the cannabis bill as a standalone, months after it cleared committee.
Politico reported that the package under consideration could potentially be attached to a Federal Aviation Administration reauthorization bill that needs to pass before May 10.
Schumer recently reiterated his intent to pass legislation to safeguard cannabis banking as part of a busy agenda that he hopes to achieve in the weeks and months ahead, though he again stressed the need for bipartisan cooperation.
He also recently asked people toshow their support for the SAFER Banking Act by signing a petitionas he steps up his push for the legislation. A poll released last month by the American Bankers Association (ABA) shows that roughly three out of five Americanssupport allowing marijuana industry access to the banking system.
Rep. Nancy Mace (R-SC) said last week that that if Republicans want to keep the House, they should pass the marijuana banking bill, arguing that there are votes to approve it.
Schumer told Marijuana Moment last month thatthe bill remains a very high priority for the Senate, and members are having very productive bicameral talks to reach a final agreement.
Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they dont miss any developments. Learn more about our marijuana bill tracker and become a supporter on Patreon to get access.
Senate Banking Committee Chairman Sherrod Brown (D-OH) also said last month thatpassing the SAFER Banking Act off the floor is a high priority.However, he also recently said in a separate interview thatadvancing the legislation is complicated by current House dynamics.
House Majority Whip Tom Emmer (R-MN) separately said during a recent American Bankers Association (ABA) summit that he wants to see the SAFER Banking Act move.
He said that, for whatever reason, the federal government has been slow to act on the incremental reform that he supports even though he doesnt identify as a marijuana guy.
One key factor thats kept the bill from the Senate floor is disagreement over mostly non-cannabis provisions dealing with broader banking regulations, primarily those contained in Section 10 of the legislation.
Bicameral negotiations have been ongoing, however, and recent reporting suggests that a final deal could be just over the horizon.
The Democratic Senate sponsor of the SAFER Banking Act, Sen. Jeff Merkley (D-OR), told Marijuana Moment last month that the legislation is gaining momentum as lawmakers work to bring it to the floor and pass it this year.
The office of the Republican SAFER Banking prime sponsor, Sen. Steve Daines (R-MT), separately told Marijuana Moment that conversations have been productive and Senator Daines is working to get the bill across the finish line.
At the close of the first half of the 118th Congress in December, Schumer said in a floor speech that lawmakers would hit the ground running in 2024, aiming tobuild on bipartisan progress on several key issues, including marijuana banking reformthough he noted it wont be easy.
Biden, Harris And Top DOJ Official Promote Marijuana Pardons While Commemorating Second Chance Month
Photo courtesy of Mike Latimer.
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RANAEX Secures US MSB Registration: Elevating Trust and Compliance in Cryptocurrency Trading – AccessWire
POMPANO BEACH, FL / ACCESSWIRE / April 15, 2024 / In a significant stride towards reshaping the landscape of financial technologies, RANAEX, heralded as a premier cryptocurrency exchange in the USA, has proudly announced its official registration with the United States Money Service Business (MSB). This pivotal achievement not only highlights RANAEX staunch commitment to regulatory compliance and transparency but also sets a new benchmark in the ever-evolving domain of digital assets.
Upholding Regulatory Compliance and Transparency
The attainment of MSB registration is a testament to RANAEX dedication to operating within the frameworks set by regulatory authorities, thereby offering a fortified and transparent platform for cryptocurrency trading and investment. This compliance ensures that RANAEX aligns with the highest standards of security and reliability, fostering trust among users and stakeholders in the dynamic cryptocurrency market.
Reinforcing the Digital Asset Ecosystem
RANAEX's successful MSB registration is not merely a compliance milestone; it is a transformative step forward in enhancing the cryptocurrency landscape. By navigating the intricacies of regulatory requirements, RANAEX positions itself as an influential force in advancing the digital asset ecosystem. This strategic move not only reinforces its stature as a leading cryptocurrency exchange but also contributes to the broader acceptance and integration of digital currencies in the mainstream financial system.
RANAEX: A Platform of Excellence and Innovation
At the core of RANAEX's philosophy is the unwavering commitment to innovation and excellence. The exchange prides itself on creating a robust and secure trading environment, underscored by an ethos of regulatory compliance and user-centricity. As a beacon of trust and reliability, RANAEX is poised to drive forward the agenda of safe, transparent, and efficient cryptocurrency trading across the United States.
Inviting the Future of Cryptocurrency Technology
RANAEX extends an open invitation to enthusiasts and the public at large to partake in the next wave of cryptocurrency technology. By achieving MSB registration, RANAEX not only ensures compliance with US financial regulations but also beckons a future where digital assets are embraced as a legitimate and integral part of the financial ecosystem. The platform's dedication to fostering a safe and decentralized trading space is a clarion call to those who wish to join in the forefront of financial innovation.
About RANAEX
RANAEX stands at the forefront of the cryptocurrency trading landscape, prioritizing regulatory compliance and security to provide a safe and dynamic trading environment. With the MSB license marking a significant milestone, RANAEX distinguishes itself as a market leader, offering reliable financial services and pioneering tools in the digital asset exchange sector. The platform's commitment to security and innovation paves the way for a new era of cryptocurrency trading.
Conclusion
RANAEX's official registration with the US Money Service Business (MSB) underscores its commitment to upholding the highest standards of regulatory compliance and transparency in the cryptocurrency trading sphere. By setting a new precedent in the industry, RANAEX reaffirms its position as a trusted and forward-thinking exchange, dedicated to enhancing the security and integrity of digital asset transactions. As RANAEX continues to navigate the complexities of the cryptocurrency market, it remains steadfast in its mission to provide a safe, compliant, and innovative trading platform for its users.
Media Information
For additional information and media inquiries, please contact:
Name: Ethan Carter Organization: RANAEX Website: https://ranaex.com Website: https://h5.ranaex.com/ Email: [emailprotected] Address: 817 West Sample Road, Pompano Beach, FLORIDA 33064 IGhttps://www.instagram.com/ranaex_official/ Twitterhttps://twitter.com/RANAEX_Official
Disclaimer
As a committed entity in the cryptocurrency trading space, RANAEX underscores the importance of a secure and decentralized trading environment. Nonetheless, it's crucial for investors to recognize that digital currency trading is not devoid of risks, including potential market volatility and losses. RANAEX encourages all users to undertake comprehensive research and possibly seek financial advice before engaging in investment decisions, acknowledging and understanding the inherent risks involved.
SOURCE: RANAEX
Cryptocurrency: Top 3 Coins to Watch This Week – Watcher Guru
The cryptocurrency market underwent a slight correction over the weekend, with the global market cap falling to $2.48 trillion. The correction could be due to high inflation numbers in the US and escalating global conflicts between Iran and Israel.
However, we may witness a market rebound, with Bitcoins (BTC) halving right around the corner. Lets look at three crypto assets to watch this week.
Bitcoin (BTC):
Bitcoin (BTC) is the current market leader, and other assets are following in its footsteps. BTC has fallen 6.2% in the weekly charts, and its price hovers just over $65k. However, BTC will undergo its next halving cycle later this month. Many consider halvings bullish as they reduce the supply of an asset. There is a possibility that BTC will rebound from its current slump and reclaim its all-time high of $73,737, which it attained in March of this year.
Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In Q2 2024
Furthermore, if inflation in the US cools down, we may see a further price appreciation. The latest Iranian attack on Israel has further strained global economics. If the conflict comes to an end, the markets may recover faster.
Toncoin (TON):
While other assets faced a price correction, TON continued to rally. The cryptocurrency is up by 16.4% in the daily charts and nearly 31% in the weekly. TON has also overtaken Dogecoin (DOGE) as the 9th largest cryptocurrency by market cap.
Also Read: Top 3 US Stocks To Watch in April 2024
TONs latest rally could be due to positive ecosystem news. The asset may continue to surge over the next few weeks, especially given BTCs halving later this month.
dogwifhat (WIF):
WIF is another cryptocurrency that witnessed a massive rally in the last 24 hours. The popular memecoin is up by 14.3% in the daily charts and 20.2% over the previous month. However, the cryptocurrency is down by 17.8% in the weekly charts and over 30% in the 14 day charts.
According to CoinCodex, WIF will continue to rally over the next few weeks, hitting $5.48 on May 1, 2024.
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Cryptocurrency: Top 3 Coins to Watch This Week - Watcher Guru
3 Cryptocurrency Meme Coins Set To Surge 200% Post Bitcoin Halving – Watcher Guru
The current cryptocurrency domain is buzzing with excitement as the event of Bitcoin Halving nears hard and fast. The Halving frenzy is fueling investor sentiment, with traders betting big on which crypto token will benefit the most out of the sporadic fund spread.
Bitcoin Halving, an event intended to cut Bitcoin miners rewards in half is dubbed crucial in many ways. The event plays a pivotal role in keeping the Bitcoin rarity element in check, which in turn, keeps the allure and value of Bitcoin intact. Similarly, Halving events are often accompanied by modest price fluctuations that may trigger a fund transition from BTC to other crypto tokens.
Apart from leading altcoins, the meme tokens are also sitting in the queue, awaiting the influx to sweep them over in its wake. Here are our top three cryptocurrency meme tokens that may explode post-Bitcoin Halving.
The Solana-inspired meme coin DogWifHat is leading the latest crypto bull season by becoming investors favorite token to explore and interact with. The token has recently been listed by OKx, primarily due to its rising popularity and surge that has been driving its price to hit new price milestones.
Per Coincodex, post-Bitcoin Halving, investor sentiment could suddenly pivot to $WIF, driven by its robust meme coin structure and historic price data. $WIF has always projected an array of positive price spikes while encountering minor downswings and dips in its price. Per CoinCodex, WIF is expected to surge 239% post-May 12, trading at an all-time high of $9. This could mean investors can triple their profits if they continue to hold and explore WIF for a longer duration.
According to our current Dogwifhat price prediction, the price of Dogwifhat is predicted to rise by 231.55% and reach $9.93 by May 15, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Dogwifhat recorded 14/30 (47%) green days with 21.38% price volatility over the last 30 days.
The all-time investor favorite, Shiba Inu, has been basking in the positive price sentiment since its launch in August 2020. The token was one of the leading tokens to have amassed a fan base, rooting for its robust price surge and hike. With the event of Bitcoin halving on cards, the user sentiment towards Shiba Inu is now stronger than ever.
Per Coincodex, Shiba Inu may experience a massive fund injection, which could catapult its price to hit a new high. The platform predicts SHIB to surge by 227% and trade at $0.00007214 by May 15.
According to our current Shiba Inu price prediction, the price of Shiba Inu may rise by 227.07% and reach $0.00007214 by May 15, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Shiba Inu recorded 14/30 (47%) green days with 7.17% price volatility over the last 30 days.
The frog-inspired meme coin Pepe soon became a cult Web3 sensation in 2024. The token embraced the bullish cycle phase of the market, leading its price to document significant price hikes. The token is currently sitting at $0.000005551, up 1.68% in the last 24 hours.
Per CoinCodex, Pepe may surge past the usual price threshold post-Bitcoin halving. The platform expects Pepe to breach past 220% and trade at a new price milestone of $0.00001768.
Also Read: Cryptocurrency: Top 3 Coins To Buy for 5X Profit In April
The price of Pepe Coin is predicted to rise by 230.95% and reach $0.00001768 by May 15, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Pepe Coin recorded 14/30 (47%) green days with 9.81% price volatility over the last 30 days.
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3 Cryptocurrency Meme Coins Set To Surge 200% Post Bitcoin Halving - Watcher Guru
Cryptocurrency: 3 Coins To Buy Amidst The Market Dip – Watcher Guru
The cryptocurrency market has experienced a significant dip in recent days, largely attributed to the ongoing conflict between Israel and Iran. With prices plummeting, many investors wonder which coins offer the best opportunities for growth and recovery.
Among the sea of digital assets, three coins stand out as potential buys amidst the market downturn: Solana, Ethereum, and Shiba Inu.
Solana, currently trading at $153, has seen a 15% decline in the last seven days. Despite this drop, the high-performance blockchain platform remains a promising investment opportunity.
Solanas unique proof-of-history consensus mechanism allows for incredibly fast transaction speeds and low fees, making it an attractive option for developers and users alike. As more projects adopt the Solana ecosystem, the coins value is expected to recover and potentially surpass its previous highs.
Also read: 4 Meme Coins To Watch As Bitcoin (BTC) Reclaims $70,000
Ethereum, the second-largest cryptocurrency by market capitalization, is trading at $3,200, down 10% in the last seven days. ETH, which is the backbone of the decentralized finance (DeFi) movement and home to countless decentralized applications (dApps), remains a solid long-term investment.
With the anticipation of an ETH ETF approval, ETH could likely surge in the light of such an event.
Also read: Dogecoin: DOGE Price Prediction During Bitcoin Halving
Shiba Inu, the popular meme coin, is currently trading at $0.0000236, having experienced a 19% drop in the last seven days. Despite its origins as a lighthearted alternative to Dogecoin, Shiba Inu has garnered a dedicated community and has seen significant adoption.
As one of the oldest and second largest meme coins, Shiba Inu presents an opportunity for investors looking to capitalize on the potential of meme-based cryptocurrencies.
Also read: Shiba Inu: AI Forecasts SHIB Price For April 15, 2024
Geopolitical tensions between Israel and Iran have fueled the recent market dip, leaving many investors uncertain about the future of cryptocurrencies. However, it is important to remember that market fluctuations are a natural part of the crypto landscape, and periods of downturn often present unique opportunities for growth.
By carefully considering the fundamentals and potential of coins like Solana, Ethereum, and Shiba Inu, investors can make informed decisions and position themselves for long-term success. As always, it is crucial to conduct thorough research and invest responsibly, taking into account ones individual financial goals and risk tolerance.
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Cryptocurrency: 3 Coins To Buy Amidst The Market Dip - Watcher Guru
Cryptocurrency: 3 Coins That Could Hit All-Time Highs This Week – Watcher Guru
The cryptocurrency market underwent a correction over the weekend, with the global market cap falling to $2.48 trillion. The price dip could be due to Irans attack on Israel, which has impacted global economics. Furthermore, rising inflation in the US has also led to investors becoming weary of risky assets, such as crypto.
However, with Bitcoins (BTC) halving just around the corner, we may witness a rebound in the crypto markets.
Bitcoin (BTC):
BTC has faced a 4.9% correction in the weekly charts, with prices falling to around $66.4k. However, with the asset undergoing its next halving cycle later this month, we may witness a sudden rally.
Also Read: Cryptocurrency: Top 3 Coins To Watch Out for in April for Maximum Profits
According to CoinCodex, BTC will hit a new all-time high of $74,621 on Apr. 20, 2024. Reaching $74,621 from current levels would translate to a growth of about 12.31%.
Furthermore, CoinCodex predicts BTC to continue surging over the next few weeks. The platform anticipates the cryptocurrency to hit $85,986 by mid-May 2024. Reaching $85,986 from current levels would translate to a growth of about 29.4%.
Toncoin (TON):
TON is one of the best-performing cryptocurrencies right now. The asset is up by 10.2% in the daily charts, 28.2% in the weekly charts, 34.5% in the 14-day charts, and 85.6% over the previous month. TONs recent surge could be due to positive ecosystem developments within the project. The asset recently overtook Dogecoin (DOGE) as the 9th largest cryptocurrency by market cap.
Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In Q2 2024
Although TON recently hit an all-time high of $7.63 on Apr. 11, CoinCodex anticipates the asset to hit a new high this week. The platform predicts TON to hit $7.94 on Apr. 18, 2024. Furthermore, CoinCodex expects TOn to continue surging over the next few weeks, hitting $23.86 on May 13, 2024.
dogwifhat (WIF):
WIF is another cryptocurrency that is expected to hit an all-time high soon. The asset recently hit a new high of $4.83 on Mar. 31, 2024. However, according to CoinCodex, WIF could hit a new high next week. According to the platform, WIF could surge to $4.87 on Apr. 28, 2024.
Furthermore, CoinCodex anticipates the cryptocurrency to continue surging over the next few weeks, hitting $10.29 on May 13, 2024.
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Cryptocurrency: 3 Coins That Could Hit All-Time Highs This Week - Watcher Guru
Cryptocurrency: Whales Scooped Up These Coins Amidst Market Dip – Watcher Guru
In the wake of a recent cryptocurrency market drop, a fresh wallet has withdrawn $17.43 million worth of coins from Binance. The move, spotted by blockchain analytics firm Lookonchain, suggests that whales are taking advantage of the dip to buy a diverse range of altcoins.
The substantial withdrawal includes a variety of popular coins, with Avalanche (AVAX) leading the pack at 48,922 tokens, worth approximately $1.86 million. Fetch.ai (FET) follows closely, with 621,003 tokens valued at $1.45 million.
Other notable coins in the withdrawal include The Graph (GRT) at 5.14 million tokens ($1.44 million), Polygon (MATIC) at 1.9 million tokens ($1.41 million), and Optimism (OP) at 532,444 tokens ($1.29 million).
Also read: Shiba Inu: This Pattern Suggests A SHIB Surge To $0.000045
The fresh cryptocurrency wallet also bought 135,751 Render Token (RNDR) worth $1.26 million, 174,421 Polkadot (DOT) valued at $1.23 million, and 1.6 million Fantom (FTM) tokens totaling $1.15 million.
Chainlink (LINK) and Dogecoin (DOGE) were also among the altcoins withdrawn, with 68,598 LINK tokens ($993,000) and 5.3 million DOGE ($851,000), respectively.
Lesser-known coins such as Pendle (PENDLE), Gala (GALA), Aavegotchi (GHST), Aevolve (AEVO), and dYdX (DYDX) also saw significant acquisitions, with the fresh wallet accumulating tokens worth between $719,000 and $802,000 for each of these projects. Surprisingly, the wallet also scooped up 124.6 billion Pepe (PEPE) tokens, valued at $681,000.
Also read: Solana (SOL) & Binance Coin (BNB) Price Prediction This Week
The diverse range of coins acquired by the fresh wallet suggests that whales are not only focusing on well-established projects but also seeking potential in newer and lesser-known cryptocurrencies.The recent cryptocurrency market downturn has presented an opportunity for whales to accumulate altcoins at discounted prices.
The substantial withdrawal from Binance by the wallet also highlights the importance of tracking large transactions on major cryptocurrency exchanges. These movements can provide valuable insights into the strategies and sentiments of influential market players.
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Cryptocurrency: Whales Scooped Up These Coins Amidst Market Dip - Watcher Guru
Cryptocurrency Investment Guide – Blockchain Council
With the rise of cryptocurrencies like Bitcoin and Ethereum, more people are becoming interested in investing in digital assets. However, navigating the complex world of cryptocurrency investment can be daunting for beginners. In this comprehensive guide, well explore everything you need to know to get started with cryptocurrency investment, including how to buy cryptocurrencies, store them securely, and trade them effectively.
Before diving into cryptocurrency investment, its essential to understand the basics of how digital assets work and their potential risks and rewards. Cryptocurrencies are decentralized digital currencies that use cryptography for secure transactions and operate independently of any central authority, such as a government or financial institution. While cryptocurrencies offer the potential for high returns, they also come with high volatility and regulatory uncertainty, making them a speculative investment.
The first step in cryptocurrency investment is to acquire digital assets through a cryptocurrency exchange. Heres how to get started:
For those interested in actively trading cryptocurrencies to capitalize on price fluctuations, here are some essential tips to consider:
While cryptocurrency investment offers the potential for high returns, it also comes with significant risks and challenges:
Cryptocurrency investment can be a rewarding venture for those willing to navigate the risks and uncertainties of the digital asset market. By following the tips outlined in this guide and staying informed about market trends and developments, investors can make informed decisions and potentially capitalize on the opportunities presented by cryptocurrencies.
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Cryptocurrency Investment Guide - Blockchain Council