Hamster Kombat fails to excite meme community

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

The popular token based on the Ton blockchain posted extreme market volatility, falling by as much as 30% in less than 5 days. The steep drop came after the recent launch and airdrop, which encouraged users to cash out their tokens and swiftly increased selling pressure.

HMSTR, currently trading at $0.0068, is in a consolidation phase but still raises concerns about its market’s stability and potential future price changes.

Price action indicates a possible breakdown as the price movement oscillates horizontally between resistance and support. Furthermore, a downward trend in the price of Hamster Kombat could be caused by the growing selling pressure.

The lower bound of the range, $0.006500, which has been challenged multiple times, is where price action indicates immediate support.

In addition, a lot of players complained about the airdrop. Even though 2.3 million players were barred from Hamster Kombat before the airdrop, a significant number of people still participated, greatly reducing the payouts.

Shortly after Binance announced HMSTR’s initial listing, Hamster Kombat revealed that the token’s futures trading had begun.
It was possible to trade with up to 75x leverage, according to Hamster Kombat on X.

A declining price coupled with increasing volume is a sign of strength for the downward pressure on the token, which is negative. Should this persist, the price may drop even further.

Meanwhile, a spike in the token’s derivatives volume was observed, according to Coinglass statistics. This noteworthy increase suggests that HMSTR is the subject of much speculation. Rising interest in futures combined with declining pricing, affirms a bearish indication, just like the spot volume.

Circle hopeful on European Crypto Industry

Posted on September 27, 2024September 27, 2024 by Olumide Adesina

Patrick Hansen, director of European strategy at Circle, prophesied tremendous developments in the EU’s cryptocurrency and stablecoin markets by the end of next year.
Hansen at the European Blockchain Convention in Barcelona mentioned the expectations of the developments of the structure of the crypto market of the European Union.

This growth will primarily be fueled by the upcoming Bloc’s Markets in Crypto-Assets Regulation, particularly, Hansen said during a panel discussion ‘What is Going on Behind the Scenes – Post MiCA?’.

The crypto censorship policy of the EU was revised mainly because of MiCA: the fundamental cavities for the regime, the authorities, and the sparse issuance of authorities concerning digital assets are detailed.

Hansen revealed that the MiCA compliance and obtaining regulatory approval wasn’t easy. For example, the USDC issuer directly dealt with the regulators for as long as twenty-four months until they were granted authorization.

Circle applied for its Electronic Money Institution license in France and obtained acceptance by the French banking authority, the Autorité de Contrôle Prudentiel et de Résolution.

CEO Jeremy Allaire strengthened the company’s position in Europe, aiming for an initial public offering in the United States, . The company moved its worldwide headquarters to the center of New York City as part of a plan to go public. In the One World Trade Center, Circle has a new office next to some of the largest names on Wall Street, including Goldman Sachs.

US government seizes crypto domains connected to Russian money laundering

Posted on September 27, 2024September 27, 2024 by Olumide Adesina

The US Department of Justice has taken control of three cryptocurrency exchanges and domains that enabled over $800 million in illegal transactions related to Russian money laundering schemes. The US government acquired sixteen domains, including PM2BTC, Cryptex, and UAPS amid a judge’s approval.

A government notification stating the site has been seized due to criminal conduct will appear to everyone who opens those domains.

The US Department of Justice (DOJ) prosecuted two Russian nationals in a statement released on September 26 for allegedly taking millions of dollars from a massive money laundering scheme that was based on a global network of cyber criminals.

The DOJ accused Russian national Sergey Ivanov, also known as “Taleon,” of running several money laundering businesses for hackers, including ransomware organizations and darknet drug traffickers, based on previously disclosed court records.

Between July 2013 and August 2024, Ivanov is accused of creating and running the Russian payment and exchange systems UAPS, PinPays, and PM2BTC to handle over $1.15 billion in transactions using digital assets for money laundering.

It was discovered that Cryptex, another cryptocurrency exchange connected to money laundering, had enabled transactions totaling $1.4 billion, of which 31% were linked to illegal activity.

The domains “Cryptex.net” and “Cryptex. one” were taken by US authorities. According to reports, these websites let individuals register for accounts anonymously and without complying with know-your-customer regulations.
Deputy Attorney General Lisa Monaco stated, “We shut down Cryptex, an illegal cryptocurrency exchange, and recovered millions of dollars in cryptocurrency working with our Dutch partners.”

Timur Shakhmametov, a Russian national, was also charged with running Joker’s Stash, one of the biggest carding websites ever, which offered credit and debit card details that had been stolen. Similar to Ivanov, Shakhmametov is suspected of advertising on multiple cybercrime forums Joker’s Stash website as well as his pilfered credit card information.

A press release stated that a blockchain examination found that roughly 32% of all Bitcoins on these exchanges were able linked to illegal activities. Approximately $4.7 million came via darknet drug markets, over $8.8 million was utilized for ransomware payments, and over $158 million in Bitcoin was linked to fraud.

Forex Signals Brief September 27: Can the PCE Inflation Save the USD?

Posted on September 27, 2024September 26, 2024 by Skerdian Meta

Yesterday started with the Swiss National Bank meeting which delivered the third rate cut of 25 basis points, while some were expecting a 50 bps rate cut. That helped the CHF somewhat, with USD/CHF ending 50 pips lower, while USD/JPY ended higher. However, the USD declined against yet most other major currencies, as rumours grew that China is coming up with the second part of the plan, the fiscal stimulus to help the economy which helped risk sentiment.

Continue reading “Forex Signals Brief September 27: Can the PCE Inflation Save the USD?” →

Bitcoin Erupts As Bulls Breach $65,000: Up Next All-Time Highs?

Posted on September 27, 2024 by Dalmas Ngetich

Bitcoin is up when writing, breaking above local resistance and trading beyond $65,000. The bull bar of September 26 has decent volume and is wide-ranging. Most importantly, there is engagement, and by the end of yesterday, prices were trading above the resistance established in the first half of this week. Technically, buyers are back in the equation. If buyers press on, riding on improving crypto sentiment, there is a high probability of prices soaring above $70,000 in the coming sessions. Of note is that the shifting monetary policy across the globe is a net positive for Bitcoin and crypto assets.

Traders are bullish, as is evident in the daily chart. The welcomed expansion of September 26 saw Bitcoin break above $65,000. As it is, Bitcoin is up nearly 3% in the past day and week. Meanwhile, the average trading volume is rising, soaring above $37 billion.

The following trending Bitcoin news events are worth watching:

Rising crypto and Bitcoin prices also mean all spot Bitcoin ETFs issued in the United States are trading at new September highs. As the demand for the underlying asset increases, share prices will also increase in tandem.
The spike above Bitcoin stretched Coinbase, briefly forcing the exchange offline. Often, glitches in the exchange happen when crypto, and especially Bitcoin prices, are pumping.

Bitcoin Price Analysis

[[BTC/USD]] is firm at press time.

As things are, the coin is within a bullish breakout formation.

Aggressive traders can double down, buying on dips.

How Bitcoin closes by today’s close will shape the medium term, building the base for a retest of $70,000 or higher.

Looking at the surging engagement and the wide-ranging bar of September 26, the probability of Bitcoin finally close above $72,000 for the first time in over three months is highly likely.

The ultimate target for traders is $74,000 or March highs.

Ethereum Targets $2,800, BlackRock Now Controls Over 350,000 ETH

Posted on September 27, 2024 by Dalmas Ngetich

Ethereum is firm at press time. Although there are hints of strength, the coin is within the range of the first half of the week. Resistance is emerging at around $2,700. If this level is taken out this week, the probability of ETH soaring above $2,800 will be elevated. Technically, buyers are in charge, especially following the close above $2,400. From the candlestick arrangement in the daily chart, a solid base for an eventual retest of $3,000 is being established. Accordingly, aggressive traders might choose to consider longs and accumulating.

There is confidence that Ethereum will follow Bitcoin and break above $2,800. However, this largely depends on how prices react at this week’s highs. If there is confirmation of gains for the better part of this week, ETH may come on top. Thus far, the coin is steady on the last day but up 4% over the past week. At the same time, engagement is rising. The average trading volume stands above $16 billion in the previous 24 hours.

As prices recover, traders should closely monitor the following Ethereum news events:

Despite surging crypto prices, the sentiment among traders, looking at the CMC sentiment poll, is bearish. Over 70% of market participants are net bearish on the second most valuable coin.
Amid rising crypto prices, it is emerging that BlackRock is rapidly buying ETH and BTC, increasing their holdings. On the last day, the global asset manager bought 2,420 ETH, pushing their total holdings to over 350,000 ETH.

Ethereum Price Analysis

[[ETH/USD]] is bullish at press time, and buyers remain in control for the better part of this week.

The breakout above $2,400 was crucial in setting the ball rolling.

With sellers giving up and ETH bull momentum building up steam, there might be opportunities to consider longs.

Every dip above $2,400 may offer entries for immediate targets at $2,800.

Notice that bars are along the upper BB and above the 20-day moving average—pointing to strength.

Any unexpected dump below $2,500 will question whether bulls have what it takes to lift the coin above $3,000.

XRP Shines Even As RLUSD Launch Expected In 2 Months: When Will Ripple Hit $0.74?

Posted on September 27, 2024 by Dalmas Ngetich

XRP is shining at press time. Even though bulls are yet to shake this week’s weakness and break above $0.60, and thus the consolidation, there is hope that XRP will triumph. The immediate target for traders expecting a lift-off should be 2024 highs of around $0.74. Nonetheless, patience should be crucial as this trend develops. How prices close by the end of the day will be critical in shaping the short to medium-term formation. The local support remains at the $0.55 and $0.57 region.

Traders are upbeat, but XRP, considering its volatile and choppy nature, may disappoint. At press time, prices are consolidating. The seventh most valuable coin is steady for now, although trading volume is picking up momentum. Over the past day, it rose to over $1.2 billion.

The following XRP and Ripple news developments should be closely monitored:

RLUSD could debut by the end of the year, depending on regulatory approvals. The stablecoin, which will only serve institutions, is currently in testnet on Ethereum and the XRP Ledger.
Grayscale recently re-launched the XRP Trust. The product, the digital asset manager claims, will serve accredited investors, permitting them to gain exposure to XRP. After launching, XRP prices rose as the odds of a potential spot ETF being approved in the future increased.

XRP Price Analysis

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

As long as prices remain above $0.55 and $0.57, the path of least resistance remains.

A decisive, high volume close above $0.60 could trigger a wave of buying that may see the coin soar to $0.66.

Favorable as this outlook may be, how XRP closes by the end of the day will be crucial in setting the momentum in the medium term.

Hamster Kombat live on Open Network

Posted on September 26, 2024September 26, 2024 by Olumide Adesina

Hamster Kombat, the well-known cryptocurrency game is now accessible on The Open Network (TON) and listed on popular digital exchanges. Players can mine Hamster coins in this unusual game by operating a virtual cryptocurrency trade,

Hamster Kombat has drawn over 300 million players since its inception in March 2024. As a hamster CEO in Hamster Kombat, the objective is to expand your exchange by making marketing investments, obtaining licenses, and introducing new goods.

The game offers a dynamic gameplay experience by fusing strategy with enjoyment. Tokens will be given to gamers on September 26, 2024, during a special airdrop.

The game offers daily promotions where users can upgrade specific goods to gain 5 million free Hamster coins, intended to increase player engagement. A safe and decentralized gaming environment is offered by Hamster Kombat, as 60% of the HMSTR token supply is set aside for airdrops and partnerships with significant players in the cryptocurrency and gaming industries.

HMSTR token will be used as in-game money to purchase skins and evolutions and to avail of premium services like committed support, community resources, or even kits for video game producers.
In addition, users can take part in team games, player versus player (PvP) battles, live events, and unique events if they possess Hamster Kombat HMSTR tokens

Dogwifhat on a rampage, up 30% within a week

Posted on September 26, 2024 by Olumide Adesina

WIF is arguably the most bullish meme token among the top 50 digital assets. Dogwifhat (WIF) is making waves as it has led by about 30% in a week making it attractive for investors looking for high rewards.

The 44th most valuable crypto asset was priced at $2.2 at the time of this publication, after a 10% increase in the past 24 hours. If last week’s price movements of WIF are anything to go by, then the meme coin is at a pivotal market reversal point back to bullish.

Some suggest that such a bullish return is partly because of an increased appetite for high-risk risk. WIF’s breakout of its resistance into its yearly highs amid the dovish stance in global central banks. Price predictions indicate the meme coin could still post additional upsides by the end of next month.

However, some conservative investors are likely to take some profits once WIF gets to the level of resistance that is around $2.2 The recovery of WIF and other meme coins with lower market valuation will increase the firepower in the crypto market

Although setting a new record high in October would be a big hurdle analysts are optimistic that a $3 recovery is feasible. But the WIF price would Astute investors have pointed out, Dogwifhat has shown to be a great gauge of the overall market sentiments. Therefore, WIF’s optimistic comeback may indicate that a larger meme coin bull run is approaching, perhaps resulting in enormous gains from low-cap tokens.

PayPal allows Merchants transact with crypto assets

Posted on September 26, 2024 by Olumide Adesina

PayPal declared that it will start enabling business account holders in the US to purchase, sell, and retain cryptocurrency except New York retailers

The United States-based payment firm In a press release, highlighted that it intends to make cryptocurrency buying, storing, and selling possible for US business accounts. The company says that one of its goals is to make it easier for US-based retailers to access cryptocurrencies.

“We have learned a lot about how consumers want to use their cryptocurrency since we launched the ability for PayPal and Venmo users to buy, sell, and hold cryptocurrency in their wallets,” stated Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal.

The purpose of such capability is to satisfy the increasing demand from business owners for features now offered to customers. Additionally, PayPal announced that business accounts in New York will not be able to utilize this new function upon debut.

Merchants will also find sending and receiving supported assets to and from qualified blockchain addresses simple, to increase operational flexibility,
The payment processor has taken significant steps to increase the availability of digital assets to its clientele Following its announcement that users would be able to purchase and retain cryptocurrency using their accounts in 2020,
Since then, the company has continued to support crypto assets by introducing PayPal USD (PYUSD), a stablecoin backed by the US dollar, accessible on the Ethereum and Solana blockchains.

Additionally, PayPal said that it is allowing US retailers to send cryptocurrency on-chain to wallets that are approved by third parties from an external source. Sending and receiving supported cryptocurrency tokens to and from external blockchain addresses is now possible for owners of PayPal business accounts.