Trump announces Whitelist for New World Liberty Financial Crypto Project

Posted on October 1, 2024 by Olumide Adesina

Former President Donald Trump declared that qualified people can join the World Liberty Financial (WLF) whitelist. Speaking to his 91 million fans on X, he described it as their “opportunity to participate in this momentous occasion.”

According to the World Liberty Financial website, the Trump family decentralized finance (defi) project’s know-your-customer (KYC) process has begun. The Trump defi project, which will include a currency named the WLFI token and have 63% of it available to the public under the U.S. Securities and Exchange Commission’s Regulation D guidelines, was first detailed in mid-September.

On Sept. 30, Trump reached out to his X fans, announcing that WLF whitelisting had begun. “This time, with cryptocurrency, I’ll make America great again,” declared Trump. “[World Liberty Financial] intends to assist in establishing America as the global center of cryptocurrency! Officially, the whitelist for qualified individuals is now open; here is your opportunity on this momentous occasion.”

Website visitors are instructed to start the KYC procedure after selecting whether they live in the United States or abroad. To be verified, users must connect their Web3 wallet, which acts as their KYC identifier.

Access to further details about WLF is restricted to those who successfully fulfill the KYC procedure. According to national surveys and prediction markets, Trump and Democratic nominee Kamala Harris for president in 2024 are now in a close battle. Trump stated that he became interested in cryptocurrency after starting his non-fungible token (NFT) initiative and noticed how many purchases people made with cryptocurrency.

Bitcoin Up 20% in 3 Weeks: Will BTC Bulls Break $70,000?

Posted on September 30, 2024 by Dalmas Ngetich

Bitcoin edged higher by the end of last week before flat-lining over the weekend and dropping earlier today. Even though prices are down, the breakout above $66,000 was massive for the coin. Technically, the upside momentum remains and traders may find entries on dips. If anything, as long as prices are also within last week’s range, assuming there is a correction towards the $60,000 zone, buyers will still have the upper hand. The first target would be $70,000 and the all-important resistance at $72,000 in the coming days.

Traders are confident, expecting prices to tear even higher in the coming sessions. As things stand, Bitcoin is up nearly 20%, rising from September lows. After the sideways chop of the weekend and the drop on the last day, the coin is flat on the last day and week. Meanwhile, the average trading volume is relatively low, at $21 billion.

The following Bitcoin trending news events are worth watching:

Despite the Bitcoin mining and trading ban, Chinese pools still control over 55% of the hash rate. Even so, since 2021, American pools have been gnawing market share and asserting their dominance.
With prices rising, community sentiment is increasingly bullish on the world’s most valuable coin. Over 60% of voters, according to CoinMarketCap, are bullish, expecting prices to rise.

Bitcoin Price Analysis

[[BTC/USD]] is firm at spot rates.

Although there is a cool-off and prices are down, every low might offer entries for aggressive traders.

The immediate support lies at $63,000, or September 26 lows.

On the flip side, the first target would be the psychological resistance at $70,000.

If bulls press on, building on gains of September 26, Bitcoin may fly to $72,000 and even all-time highs of nearly $74,000.

Ethereum Floats Higher, Institutions Stacking ETH: When Will Bulls Break $2,800?

Posted on September 30, 2024 by Dalmas Ngetich

Ethereum, following Bitcoin and other top altcoins, is firm at press time. After days of lower lows, the recovery in September is impressive. Still, it remains to be seen whether buyers have what it takes to breach $2,800, confirming the gains of last week. For the uptrend to continue, the leg up must be with rising trading volume, affirming the presence of buyers. This development will affirm the broader shift in market sentiment that may build a strong base for even more gains in Q4 2024. Already, there are net inflows to spot ETFs, a signal that institutions may be turning risk-on.

Traders are confident of what lies ahead. Still, Ethereum is flat when writing, looking at the performance over the last day and week. Even though the coin is higher, the average trading volume is also low, at around $13 billion. If anything, traders should be on the sidelines, waiting for a clean trend definition.

Holders are closely monitoring the following trending Ethereum news:

Although ETH prices are firm, an ICO participant is actively sending coins to Kraken. The address bought each coin for $0.31 and has since sent over 12,000 ETH worth over $31 million for possible liquidation.
Spot Ethereum ETFs continue to see institutional demand. As of September 27, trackers show investors bought $58 million worth of shares directly backed by ETH. This positive net flow is despite massive outflows from Grayscale’s ETHE.

Ethereum Price Analysis

[[ETH/USD]] is steady when writing.

The immediate resistance is $2,800, while support is at around $2,400.

Traders can consider longs on dips, targeting the resistance level and later $3,000 if Ethereum bulls push on.

Even if ETH falls from spot rates, the September range will define the bullish trend.

The only time this outlook will be invalid, signaling weakness, is if Ethereum drops below $2,200.

If the breakout is with rising volume, the coin may slip to as low as August lows of $2,100 and, later, $1,800.

XRP Explodes Above $0.60: Over 85% of Ripple Traders Bullish, $0.74 Incoming?

Posted on September 30, 2024 by Dalmas Ngetich

XRP is leading the bullish pack, looking at the performance over the last trading day. At press time, the seventh most valuable is above $0.60, breaking higher in a buy trend continuation formation. Even though there were concerns after the extended consolidation from September 14 to 27, the breakout over the weekend comes as a relief. Technically, traders can consider riding the trend with targets at $0.66. There will be more opportunities above $0.66 if there are even more rapid gains in the coming sessions. Considering this state of affairs, the immediate support will be at around $0.57.

As prices rise, engagement is also trending upward. At press time, XRP is up nearly 10% over the past week as engagement spikes above $2.4 billion. Technically, as prices increase, more traders will position themselves to ride the emerging trend.

Traders are closely watching out for the following XRP and Ripple news:

Rising crypto prices and the rejection of bears over the past two weeks could explain why over 85% of XRP traders are bullish. Only 15%, according to a CMC poll, are bearish on the coin.
Considering its core mission of driving finance and promoting inclusion in a cheap and efficient way, XRP, used by Ripple’s ODL, has been recognized in its remittance role by SWIFT.
XRP Price Analysis

[[XRP/USD]] is trending higher at spot rates.

After days of consolidation, the leg up on September 28 confirms the presence of buyers.

Notice that the leg up is with rising trading volume, pointing to strength and trader interest—an endorsement for bulls.

Accordingly, from the daily chart, every low above $0.57, the primary support, may offer traders an entry.

The first target would be $0.66 and 2024 highs of around $0.74.

Forex Signals Brief September 30: Trading Everything Until NFP Friday

Posted on September 30, 2024September 29, 2024 by Skerdian Meta

Last week the focus was on the US PCE inflation on Friday, which could boost the USD as it continued the decline from the previous week, following the 50 bps FED rate cut. But, the headline and core PCE inflation came below expectations, showing a further slowdown, while earnings also slowed. That increased the chances of a more dovish stance by the Federal Reserve. The report has heightened expectations that the Fed may lower interest rates by as much as 50 basis points at its meeting in November, as US inflationary pressures continue to cool.

Continue reading “Forex Signals Brief September 30: Trading Everything Until NFP Friday” →

Mango token will be destroyed

Posted on September 30, 2024 by Olumide Adesina

The U.S. Securities and Exchange Commission (SEC) settled allegations against Mango DAO, Mango Labs LLC, and Blockworks Foundation because the latter organizations offered unregistered broker services. The MNGO token was purportedly an unregistered security.

The financial watchdog in a press statement highlighted the firm will destroy their MNGO tokens, request that cryptocurrency exchanges stop trading the tokens, and pay $700,000 as part of the settlement, which is still pending court approval.

Acting Chief of the SEC’s Crypto and Cyber Unit Jorge Tenreiro stated that any organization providing “securities-intermediary functions” must register with the SEC or be exempt from doing so.
“Since the beginning of our crypto enforcement program, we have maintained that the term “DAO” does not alter the truth about the people behind a project, the kinds of activities they carry out, or whether or not those activities require registration. Furthermore, using automated or open-source software to facilitate the intermediation of securities does not alter the nature of these operations,” he stated

The settlement was reached a little more than a month after Mango DAO conducted a public vote to decide whether to accept the settlement offer. Earlier this week, the DAO unanimously voted on a settlement deal with the Commodity Futures Trading Commission (CFTC).

Members of the Mango DAO cast votes on ideas using the MNGO governance token. it’s unclear what the project’s future holds without the token.
According to a press release from the SEC, $70 million worth of MNGO tokens were sold by Mango DAO and Blockworks Foundation, which is unrelated to the news and events industry.

Mango DAO, Blockworks Foundation, and Mango Labs are not confirming or rejecting the allegations as part of the settlement.

Moo Deng most valuable token on Pump.Fun

Posted on September 30, 2024 by Olumide Adesina

The recently launched Solana Pump. fun coin, Moo Deng, oscillates near not far from its record high as FOMO kicked in.

Moo Deng, a token with a hippo theme, rose to a record high of $0.35 on Saturday before moderating below the 0.25 cent level on Monday amid sell-offs in the crypto market. It is currently the most valuable token in the Pump. Fun network, with a market value of more than $248 million. About 420.69 billion tokens have already been issued.

Moo Deng is the name of a rare pygmy hippo from Thailand. Even at two months old, she is a social media sensation. Videos of the Khao Kheow Open Zoo in Chonburi have gone viral rapidly. All it took for the Solana community to turn her into a meme coin was that.

According to Solscan data, the holdings have reached 28.4K. The increasing number of holders indicates that traders experienced FOMO, or “fear of missing out,” because of the surge.

Whales gather such tokens as Lookonchain reports that a whale purchased Moo Deng tokens for about $1.6 million.

After the Fed cut interest rates and the Chinese government announced several stimulus measures, investors increased their appetite for risk

The zoo is not the only one benefiting financially from the popularity of the dwarf hippopotamus. The hippopotamus-themed token has proven too irresistible for the cryptocurrency-buying community.

The Khao Kheow Zoo has had thousands of visitors because of Moo Deng, or “bouncing pig” in Thai. In addition, the hippopotamus is widely available thanks to memes on the Internet and constant live feeds from the cage.

Numerous influential crypto people support Moo Deng. As stated by NansenAI’s founder, “Never bet against cuteness.” He parallels the Moo Deng phenomenon and Axie in 2020 and Pudgy in 2022.

Tornado Cash Co-Founder to face trial

Posted on September 29, 2024September 29, 2024 by Olumide Adesina

A US Federal Court has determined that Roman Storm, Tornado Cash’s co-founder, and other top management will have to face trial as their suit dismissal request was denied.

The Ethereum-based crypto mixer’s inventor is accused of laundering over $1 billion by the U.S. Department of Justice.
Roman Storm charges are punishable for a maximum period of 20 years, and these are a few charges not insulated under the First Amendment. The term tornado cash mixer usually refers to an Ethereum-based cryptocurrency mixer.

Storm’s attorneys argued that the Tornado Cash co-founder’s involvement in the crypto mixer and the money taken through was limited to its development, which is a First Amendment activity, and that he is fully prepared to face the charges brought by the US DOJ against him. Still,

Despite Storn’s application for the drop off of the criminal charges has been denied by Southern District of New York (SDNY) District Judge Katherine Polk Failla who reasoned that the reason provided had nothing substantive to offer to overturn the case instituted by the justice department.

The legal matter in question is based on an indictment from August 2023, which claims Tornado Cash carried out $1 billion in money laundering activities, including hundreds of millions of dollars used to fund the Lazarus Group, a state-sponsored hacking group in North Korea.

The organization is well-known for carrying out widespread assaults on the digital asset market, using the stolen cryptocurrencies to finance North Korea’s ballistic missile development.

Storm is accused of conspiring with fellow Tornado Cash co-founder Roman Semenov to run an unauthorized money-transmitting enterprise.
U.S. Attorney Damian Williams stated, “Storm and Semenov knew that they were helping hackers and fraudsters conceal the fruits of their crimes, while publicly claiming to offer a technically sophisticated privacy service.”

Why Market is Bullish on Binance Coin

Posted on September 29, 2024 by Olumide Adesina

Binance Coin maintained its bullish momentum amid Changpeng Zhao’s release, increasing sales of non-fungible tokens, higher volumes on its decentralized exchanges, and solid technical indicators.

The news on Binance’s former CEO has sparked conjecture regarding possible effects on the cryptocurrency market, especially about Binance Coin (BNB), which has increased in value by nearly 7% over the past day.

Even though Zhao is no longer the CEO of Binance, some analysts believe his influence as an investor might help stabilize or even grow the cryptocurrency market.
BNB’s decentralized exchange saw a 52% increase in volume over the previous seven days, reaching $5.2 billion.

BNB has emerged as the third-biggest DEX blockchain, following Ethereum and Solana, which handled $8.45 billion and $6.53 billion in transactions, respectively.

A unique bullish chart pattern that could propel Binance Coin higher has formed. The price of BNB was close to its neckline on Friday.

BNB price may become unstoppable if buying activity and market mood remain strong. It may therefore surpass $652, defying previous pessimistic estimates. The coin would probably rise above significant resistance levels with fresh purchasing momentum, indicating increased confidence.

Additionally, the altcoin has created a mild bullish flag pattern, a well-liked continuation indicator. It also continues to exceed the 50- and 100-day Exponential Moving Averages. Consequently, a break over the crucial resistance level at $615 would signal additional gains and post more upsides to its year-to-date high of $721, around a fifth above the current level.

CZ makes first tweet after release

Posted on September 28, 2024September 28, 2024 by Olumide Adesina

Co-founder and former CEO of Binance, Changpeng Zhao, often known as CZ, served out his four-month sentence on September 27 for neglecting to keep the Binance cryptocurrency exchange’s anti-money laundering program up to date.

When Changpeng Zhao sent out his first tweet, BNB, and a few meme assets reacted positively. Rekindled interest in the crypto market spiked in the early hours of Saturday from the former CEO of Binance’s return to social media. Richard Teng, the CEO of Binance was appointed after CZ resigned from queries regarding Zhao’s involvement

CZ’s return to social media was met with a rapid and enthusiastic response from the community. His tweet received significant attention, demonstrating the industry’s ongoing interest in his viewpoint and upcoming projects.

CZ is still a key shareholder in Binance and holds more than 64% of the company’s total BNB supply.

Richard Teng took over as CEO of Binance when CZ departed the company, and he has maintained that CZ remains a shareholder. However, the plea agreement prohibits CZ from being involved in the administration or running of the world’s most popular crypto exchange.

Certainly, Zhao won’t be going back to Binance. In their plea bargain, submitted on November 21, Binance, the cryptocurrency company, stipulated that Zhao could not have “any present or future involvement in operating or managing” the exchange.