Cloud Hosting

price edged slightly lower Monday, giving up the weekends slight gains as the overall crypto market steadies.

The premier cryptocurrency declined by 0.34% in the past 24 hours to $65,764.8 by 06:16 am ET (11:16 GMT). It had risen as high as $66,914 on Sunday.

On Wednesday last week, Bitcoin jumped back above the $70,000 mark before pulling back on the day and continuing lower for the rest of the week. The weekend saw a slight push higher, but so far on Monday, Bitcoin has pushed slightly lower.

With the Federal Reserve now projecting only one rate cut for the remainder of 2024, risk-driven assets like crypto have been pressured. Higher rates generally provide a headwind for the sector by keeping liquidity levels low, while also driving USD strength.

As a result, Bitcoin has moved lower since Thursday.

Federal Reserve policymakers said there has been modest further progress toward its 2% inflation objective.

At the press conference, Federal Reserve Chair Jerome Powell said the central bank doesnt yet have the confidence to lower rates despite inflation having eased from peak levels. On the other hand, Powell said no one has rate hikes as their base case.

Beyond Bitcoin, most major altcoins also fell slightly on Monday morning.

World no.2 token Ether declined by 0.37% to $3,496.77, while ADA is down almost 1%. However, XRP has climbed 2.3%, while SOL has gained 1.4% so far on Monday. Among meme tokens, DOGE declined 0.9% and SHIB fell 2.3%.

Continued here:
Bitcoin price today: Edges below $66k as crypto market mixed By Investing.com - Investing.com

Read More..

Meme coins are best known in the crypto market to lift up the mood and sentiment of the investors especially when the overall market is a bit choppy or moving sideways.

So, if you are a fan of meme coins, then you may not want to miss out on the newly-launched PEPE coin, which has set up an unprecedented example by witnessing a crazy rally of almost 7,000% since its launch in April 2023. Currently, PEPE coin has a market capitalization of over $5 billion, which it hit in just a month of its launch.

Lets dig deep into how this frog-faced PEPE has become the talk of the town within no time and how it entered the markets top 100 cryptocurrencies, soaring overnight.

Featured Partners

Legacy

Over 1 Million Investors Trust Mudrex for Their Crypto Investments

Security

Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets

Fees

Enjoy zero crypto deposit fees and industry's best fee rates.

Multiple Award-Winning Broker

Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker - ForexExpo Dubai October 2022 & more

Best-In-Class for Offering of Investments

Trade 26,000+ assets with no minimum deposit

Customer Support

24/7 dedicated support & easy to sign up

Please invest carefully, your capital is at risk

PEPE coin is just like another meme coin which does not hold any fundamental and intrinsic value and has no utility. In fact, it is regarded as the most memeable meme coin built on the Ethereum blockchain and works as an ERC token.

PEPE coin does not have a formal team or any roadmap. It has been just casually created as a tribute to popular internet meme character known as PEPE the Frog which gained popularity in the early 2000s.

Even with no fundamentals, PEPE has been able to enter the top 100 cryptocurrencies by market cap in just two weeks of its launch and presently ranking at number 70 position as per crypto website CoinMarketCap. PEPE coin first started trading on April 15, 2023 at a price of around $0.000000001 and now one PEPE coin is equivalent to $ 0.0000014, at the time of writing.

According to PEPEs official website, PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.

On the contrary, PEPE has been designed to capitalize on the popularity of meme coins such as Dogecoin, Shiba Inu and others. Thats why PEPE coin is much like Doegcoin and Shiba Inu, the only difference is that the latter are dog-based coins and PEPE is a frog-based one.

PEPE Coin uses a deflationary mechanism in which a small percentage of tokens gets burnt with each transaction. This mechanism helps to create scarcity and also increase the value of the left tokens over a period of time.

Moreover, it uses a redistribution system in which a portion of every transaction is shared amongst the existing token holders which helps them to gather user engagement and long-term investments.

The way PEPE has come to existence is still unknown. It did not use any of the methods such as initial coin offering (ICO), presale or airdrop to distribute its tokens rather entirely dependent on the popularity of PEPE the Frog meme, to gain interest from the potential investors.

It is to be noted that PEPE has no connection to the main creator of PEPE the Frog meme, Matt Furie, rather the identity of its creators is still unknown. All that we know, PEPE was launched towards the middle of April 2023.

The information about the team and its creators is scarce, but PEPE has successfully reaped a lot of attention via social media platforms such as Twitter and Telegram, and within no time could foster a community around the meme coin. In just a few days of its launch, PEPE already has more than 290,000 followers on Twitter.

PEPE entered like a boom in the crypto world and has shook the meme coin world totally by surprise. It surpassed its $1 billion market capitalization in a very short span of just 20 days. With such a super extraordinary entry, PEPE surged by a whopping 7,000% within a matter of just 17 days and rocked the crypto meme coin industry.

Interestingly, April was an amazing month for PEPE, and it is quite evident by the google search data. The Google Trend score for PEPE coin rose from three to 100 from the week of April 9, 2023 to the week of May 15, where the value 100 depicts the peak popularity for a specific keyword search on google.

Google Trend Score for PEPEcoin Over Past 30 days

At one time on May 5, 2023, PEPE coin reached its peak at $0.000004354, along with an astonishing market cap of $1.87 billion, depicting a meteoric rise. One important factor which contributed in moving the price of PEPE coin drastically, is its listing on several leading cryptocurrency exchanges, including Binance, Uniswap, KuCoin, OKX, Huobi, Gate.io, and MEXC.

PEPE Coin Price Chart Over Past One Month

Presently, PEPE price has plummeted drastically as it has experienced a decline of more than 60% since its all-time high, with more than 3% decrease in the last 24 hours at the time of writing, which raises the question Should we even consider this coin?

There is no doubt that crypto enthusiasts have all the reasons to consider PEPE coin as the next potential meme coin due to its massive entry and unexpected popularity. PEPE has been able to impress the whole crypto market by its amazing performance since its launch and has shown that it can anytime compete with the top major meme coins at par.

It is natural that crypto investors might be thinking to pump big time in PEPE due to its immense popularity and to turn their fortune overnight. But, if we closely look at the graphs and know that memes can turn into a joke anytime, thus investors must not be carried away by PEPEs temporary popularity and fame as its hype can be over anytime soon.

Financial experts strongly believe that one should not forget that PEPE Coin is intended purely for entertainment purposes and it contains no intrinsic value and therefore there should be no expectation of financial return at all. Moreover, PEPE is a fairly new project with almost negligible price history for reference, therefore it might be risky to put your hard money into it. Still, if anyone really wishes to invest in crypto coins then it is better to go for mainstream coins such as Bitcoin and Ethereum, which should only constitute 5% of your total financial portfolio.

Well, if you still prefer to go with the flow and follow the trend by trying your luck in PEPE, then following are steps which would help you in purchasing PEPE coin via crypto exchanges, where it is available:

Featured Partners

Legacy

Over 1 Million Investors Trust Mudrex for Their Crypto Investments

Security

Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets

Fees

Enjoy zero crypto deposit fees and industry's best fee rates.

Multiple Award-Winning Broker

Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker - ForexExpo Dubai October 2022 & more

Best-In-Class for Offering of Investments

Trade 26,000+ assets with no minimum deposit

Customer Support

24/7 dedicated support & easy to sign up

Please invest carefully, your capital is at risk

Detailed Article: How To Buy PEPE Coin In India

Frog-faced PEPE is one of the best examples of rise to fame which have surely changed the fortunes of many by making bumper profits for them. But, if you have missed the bus, then the chances of catching it again seems slim as no one can predict what happens next in the crypto space.

PEPE, which surpassed its much popular counterparts, Dogecoin and ShibaInu within no time, has made both critics and huge fan following over the past one month.

There are many who already got lucky, while the others are curious to know what lies next for PEPE. With the rise in number of holders, daily trading volume and the following on social media channels, experts believe that there is still a lot of potential left in PEPE which might show its another bullish momentum.

However, the situation of PEPE is similar to that of a frog, which is half dipped in water and the other half is still out and looking for much better opportunities.

Like other meme coins, PEPE has no solid foundation and strong intrinsic values, thus, many fear that this rally might not sustain for long. And, literally no one knows how long the upside momentum will continue for PEPE, before the bears step in.

Explore Our Top Cryptocurrency Picks

Learn More About Cryptocurrency

Crypto Buying Guides

See the rest here:
Why Is Pepe Coin Rising Forbes Advisor INDIA - Forbes

Read More..

Key Takeaways

The results of the recent European Union parliamentary elections may change the EUs approach to digital assets and cryptocurrencies. While the center-right European Peoples Party (EPP) maintained its position as the strongest political force, the surge of far-right and conservative parties has added a new layer of complexity to the regulatory landscape for crypto and blockchain technology.

The new European Parliaments diverse composition means that the implementation and potential adjustments to key frameworks like the Markets in Crypto Assets (MiCA) regulation will be closely watched. With factions ranging from crypto-skeptic populists to innovation-friendly centrists, the legislative process governing the future of digital finance in the EU is poised for vigorous debate.

The recent election proved to be a resounding victory for the far-right across the European Union, while proving disastrous for liberal and green parties. However, the center-right European Peoples Party (EPP), led by European Commission President, Ursula von der Leyen, maintained its position as the strongest political group in the European Parliament.The EPP consolidated its position as the largest bloc in the 720-seat chamber, gaining eight seats compared to the 2019 elections, for a total of 182 seats.

The far-right Identity and Democracy (ID) group, led by Frances Marine Le Pen, saw a significant boost, securing 58 seats an increase of nive from five years prior. Furthermore, the European Conservatives and Reformists (ECR), led by Italys Prime Minister, Giorgia Meloni, also made gains, winning four more seats than in the previous election.

Overall, non-aligned parties, encompassing a variety of right and left-wing groups outside the established political blocs, gained ground, winning 99 seats a 37-seat increase since 2019.

Among the losers, the center-left Progressive Alliance of Socialists and Democrats (S&D) lost four seats but remained the second-largest bloc with 135 seats. However, they fell to second place in major countries like Spain, where they had previously been the leading party in 2019. The liberal Renew Europe (RE) group faced a substantial setback, losing 22 seats. This led to a new election in France, as announced by the President, Emmanuel Macron.

Finally, the Greens, who had achieved significant gains in the 2019 elections, also suffered a major defeat, losing 19 seats.

The stance on cryptocurrencies and blockchain technology among major political groups in the European Parliament is varied, reflecting their broader ideological perspectives.

The European Peoples Party (EPP), holding 186 seats, is optimistic about the potential of blockchain and digital currencies. They advocate for robust regulatory frameworks to prevent misuse while fostering innovation. The EPP supports the current MiCA regulation and proposes future adjustments, especially for NFTs. Additionally, the party favors a relaxed tax policy for crypto and explores blockchain applications beyond financial services.

Renew Europe, a centrist group with 79 seats, champions a proactive, innovation-friendly approach to blockchain and digital assets. They support the development of a digital euro to maintain EU competitiveness and advocate for a European digital identity to streamline processes and enhance trust in digital transactions.

The European Conservatives and Reformists Group (ECR), which holds 73 seats, sees blockchain and cryptocurrencies as tools for economic growth but stresses the need for stringent anti-money laundering measures. They are skeptical about the digital euro and favor existing payment solutions instead.

Volt Europa, which won five seats and plans to join Renew Europe, is a pro-European federalist party that advocates integrating cryptocurrencies into the financial system. It supports the introduction of a digital euro and harmonized European investment regulations.

The Progressive Alliance of Socialists and Democrats (S&D), with 135 seats, is cautiously optimistic about blockchain and cryptocurrencies. It emphasizes strict regulations to prevent fraud and supports the idea of a digital euro to enhance monetary policy and consumer protection.

The Identity and Democracy (ID) group, with 58 seats, lacks a unified stance on digital currencies. However, member parties like Germanys AfD oppose the digital euro, viewing it as a threat to individual freedom and privacy. Marine Le Pen of Frances National Rally favors strict regulation over an outright ban on cryptocurrencies.

The Greens/European Free Alliance (Greens/EFA), with 53 seats, takes a cautious stance on blockchain. While they recognize its potential for transparency and sustainability, they are concerned about the environmental impact of energy-intensive cryptocurrencies. They support exploring a digital euro aligned with sustainability goals.

The Left in the European Parliament (GUE/NGL), holding 36 seats, is critical of cryptocurrencies. This is due to concerns over illicit activities and economic inequality. They advocate for a digital euro to enhance public control over the monetary system and support strict regulatory measures.

The European Christian Political Movement (ECPM), with four seats, supports technological progress that respects human dignity and fundamental rights. It is cautious about privacy and anonymity concerns related to digital wallets and eIDs. However, it has not established a detailed policy on cryptocurrencies.

While views on cryptocurrencies and blockchain technology vary among these groups, the general trend is to balance innovation with regulation. The aim is to ensure consumer protection and financial stability.

Given the European Parliaments diverse composition, debates and potential adjustments to frameworks like the Markets in Crypto Assets (MiCA) regulation are expected after the EU Parliament has regulated artificial intelligence with the EU AI Act. The presence of far-right and conservative parties adds complexity, with some factions being skeptical of the digital euro and prioritizing stringent Anti-Money Laundering measures. Meanwhile, smaller groups like the Greens and the Left emphasize environmental concerns and social justice in digital finance.

The outcomes of the EU elections play a crucial role in shaping the blocs legislation. Particularly in implementing the MiCA framework. The strengthening of populist parties could impact regulatory stances. And it may potentially result in stricter controls or more supportive policies.

Several parliamentary committees cover issues relevant to the digital finance sector. Among them are the Committee on Economic and Monetary Affairs (ECON), the Committee on Industry, Research and Energy (ITRE), the Committee on the Internal Market and Consumer Protection (IMCO), the Committee on Civil Liberties, Justice and Home Affairs (LIBE), and the Committee on Legal Affairs (JURI). ECON is the most active in the digital assets and crypto space.

The composition of the European Parliament and its committees is crucial to the future of digital assets and crypto policy. Members of the European Parliament play a significant role in shaping and adopting legislation. The European Parliaments diverse political landscape will influence the legislative landscape for digital assets and cryptocurrencies. The elections are crucial for determining the pace and direction of the implementation of the MiCA regulation. Varying perspectives from different political groups will definitely shape the future of digital finance in the EU.

Was this Article helpful? Yes No

Visit link:
New EU Parliament Elected: What's The Future For Cryptocurrency In Europe? - CCN.com

Read More..