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💵💵 Leading Colombian bank launches crypto exchange and peso stablecoin Colombia’s largest bank, Bancolombia, has entered the crypto business by launching a crypto exchange called Wenia. The crypto platform aims to on-board 60,000 users in its first year and compete with Binance and Bitso. Along with a crypto exchange, the Colombian bank also launched a stablecoin called “COPW,” which is pegged to the Colombian peso. The stablecoin will act as an onboarding solution for exchange users. Apart from the COPW stable coin, Weina will allow the trading of Bitcoin $63,009, Ether  $3,037, USD Coin USDC$1.00 and Polygon’s MATIC$0.7030. To access Weina, traders must be Colombian nationals residing in the country. The banking giant aims to consolidate the high usage of cryptocurrency in Colombia by catering to both amateur and experienced crypto traders through its platform. Colombia ranks third among Latin American countries in crypto adoption, according to the 2023 Global Crypto Adoption Index from Chainalysis. $BTC $SOL $BNB #ai #eth‬ #altcoins #BlackRock

💵💵 Leading Colombian bank launches crypto exchange and peso stablecoin

Colombia’s largest bank, Bancolombia, has entered the crypto business by launching a crypto exchange called Wenia. The crypto platform aims to on-board 60,000 users in its first year and compete with Binance and Bitso.

Along with a crypto exchange, the Colombian bank also launched a stablecoin called “COPW,” which is pegged to the Colombian peso.

The stablecoin will act as an onboarding solution for exchange users. Apart from the COPW stable coin, Weina will allow the trading of Bitcoin $63,009, Ether  $3,037, USD Coin USDC$1.00 and Polygon’s MATIC$0.7030. To access Weina, traders must be Colombian nationals residing in the country.

The banking giant aims to consolidate the high usage of cryptocurrency in Colombia by catering to both amateur and experienced crypto traders through its platform.

Colombia ranks third among Latin American countries in crypto adoption, according to the 2023 Global Crypto Adoption Index from Chainalysis.




$BTC $SOL $BNB

#ai #eth‬

#altcoins #BlackRock

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Beercoin BEER Analysis and Prediction Solana’s low fees and fast throughput have made it the ideal network to create new cryptocurrencies, making it easy for meme coin creators.  A recent report revealed, there were nearly half a million ( 455,000) tokens were created on the Solana blockchain. This is the highest for any blockchain to date. Solana network seems to be replicating the scenario of the Ethereum ICO phase in 2017. Amid all this, there released a new memecoin on the Solana network, Beercoin (BEER) with a presale of collecting 30,000 SOL. BEER at the time of writing is $0.00044, has moved 163% up in the weekly frame and 330% up in a month, and shows a bullish trend ahead. There is not much chart data available to retract any historical performance, but in the 4hr chart BEER/USDT chart, a parabolic growth can be seen. BEER has very low support at $0.00022, at a 50% drop, a resistance of $0.00046, and an upper level of $0.0005, its ATH.  The Volume oscillator moving alongside the price is an indicator of the price moving according to both buyer and seller sentiment. But the Money Flow Index( MFI) at 79 shows the asset might be moving into overbought territory. Is It good to buy BEER now?  BEER is a meme coin, that is poised to move along with the trend. Look at terms like Liquidity, listing scenario, and the overall market trend, BEER can be a go-to crypto.  Things to look up is the critical zone of $0.0003 and $0.0002, if the price is pulled back to trade into this range, it is uncertain of the direction. Any shoot-up aboce the $0.00046 will either create a sideways trading zone or jump to break into new ATH. 
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📢🤯 Bitcoin Open Interest Hits New All-Time High Bitcoin open interest has hit a new all-time high peak of $37.66 billion.  Open interest refers to the total dollar amount of outstanding Bitcoin futures or options contracts.  Options traders are eyeing a new record peak According to a recent report by Bloomberg, options with a strike price of $75,000 have managed to accumulate the most open interest due to traders anticipating a major rally.  Options with a strike price of a whopping $100,000 also rank high by open interest. This indicates strong bullish sentiment among Bitcoin traders.  The world's largest cryptocurrency is currently trading at  $71,203 after peaking at $71,756 earlier this year.    Mike Novogratz has repeatedly predicted that the flagship cryptocurrency could potentially surpass the $100,000 level. However, the bulls have to pull off a breakout above the make-it-or-break-it $73,000 level in the near future for this to happen.  Meanwhile, Bitcoin exchange-traded funds have recorded their 18th consecutive day of inflows. On Thursday, these products received $215 million in fresh money. Despite the fact BlackRock's IBIT managed to record $800 million worth of inflows just over the past week alone, prominent ETF analyst Nate Geraci believes that institutional investors have just started: "Not a view on price, but I believe advisors & inst’l investors are only just beginning to show up," Geraci said on the X social media network. $BTC #Binance55thProject(IO) #TopCoinsJune2024 #ETFvsBTC #altcoins #bitcoin
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📢🛑🛑Bitcoin Could Lift to $83K in the Coming Days🛑 Bitcoin (BTC) may be setting up for a rise to $83,000 as it completes a major bullish price pattern on the daily chart, according to technical analysis by 10x Research. A price move above $72,000 would confirm a breakout from an inverted head-and-shoulders pattern, characterized by three price troughs, with the middle one being the deepest. It is only a matter of time until bitcoin makes a new all-time high. The head-and-shoulders formation suggests a rally towards 83,000 soon, with the resistance line likely broken within the next few days. The ideal time for this resistance to break is either today, Friday, June 7, or next week, Wednesday, June 12," Markus Thielen, founder of 10x Research, said in a note shared with CoinDesk. According to technical analysis theory, the inverted head-and-shoulders pattern usually forms after a downtrend and reverses the trend upwards after a breakout. The pattern rarely appears in an upward-trending market, signaling a bullish continuation. The breakout above $72,000 hinges on the U.S. nonfarm payrolls data scheduled for release on Friday at 12:30 UTC. $BTC #TopCoinsJune2024 #Binance55thProject(IO) #ETHETFsApproved #FIT21 #altcoins
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⛔ Shiba Inu burn rate soars 3900%  ⛔ Over the past few months, many new memecoins have entered the fold and have gained significant traction in terms of popularity. Despite new tokens gaining a large chunk of the market share, Shiba Inu[SHIB] continued to see growth. One of the reasons for the same would be Shiba Inu’s burn rate. SHIB BURNS The recent surge in Shiba Inu’s burn rate has caused a stir in the cryptocurrency community. This burning process removes SHIB tokens from circulation, potentially leading to a decrease in overall supply. Notably, the burn rate rose by a staggering 3900% within a 24-hour period, with a significant contribution of 4.03 million burned tokens coming from a single wallet address. This community effort, alongside smaller burns from other members, has significantly reduced the circulating supply of SHIB. How is SHIB doing? In terms of price, SHIB was trading at $0.0000253. Over the last 24 hours, the price of SHIB had declined by 1.60%. The price moved sideways for the most part despite growing whale accumulation. Over the past three months, the SHIB price has shown multiple lower lows and lower highs indicative of a bearish trend. SHIB’s recent sideways movement did not allude to a possible reversal in the future. In terms of network growth, there was a decline observed. This implied that new addresses were losing interest in SHIB. If this trend continues and new users fail to be attracted to SHIB, it could further cause problems for the SHIB token and result in a decline in price. $SHIB #ETHETFsApproved #Binance55thProject(IO) #BnbAth #TopCoinsJune2024 #altcoins
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Why the Bitcoin Price is Down Today? ⛔ The cryptocurrency market has taken a significant downturn today, with Bitcoin falling below its $71,000 support level to $68,500, and Ethereum dropping to $3,600. The global crypto market cap has decreased by 2.60% to $2.55 trillion, while total market volume surged by 42.17% to $106.43 billion. Meanwhile, many are wondering what’s the key reason behind the sudden market drop. Reasons Behind the Market Decline The recent release of the U.S. Employment Situation Summary Report has played a significant role in this downturn. The U.S. Employment Situation Summary Report revealed that 272,000 jobs were added in May, surpassing expectations.  The unemployment rate also increased slightly from 3.9% to 4.0%, presenting mixed signals about the economy’s health. Although the data shows a different trend, Markus Thielen, head of research at 10x Research, believes the employment report isn’t the main reason for the crypto market drop. However, the crypto sold off at the end of Friday without any obvious reason causing the bitcoin price to fall. Stronger Dollar, Weaker Crypto Adding to the complexity, the U.S. Dollar Index (DXY) has strengthened, meaning the dollar is gaining value against other currencies. A stronger dollar often leads investors to move away from riskier assets like cryptocurrencies like Bitcoin, causing their value to drop. The combination of a strong dollar and potential interest rate hikes has led to a bearish sentiment in the crypto market. Investors are pulling back from riskier assets, resulting in the recent market decline. What’s Next for Crypto? A weaker employment report could lead to lower interest rates, potentially boosting Bitcoin to new highs. Markus Thielen mentioned that if the upcoming Consumer Price Index (CPI) report shows inflation at 3.3% or lower, Bitcoin could reach new all-time highs. As the market reacts to these economic signals, it’s crucial to keep an eye on future central bank announcements and economic reports for further clues on market direction. $BTC
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