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Ripple CEO Revives XRP Vs. Ethereum Debate: Can XRP Rise Again?
In an interview, Ripple CEO Brad Garlinghouse recalled a time when XRP’s market capitalization surpassed Ethereum’s, ranking second only to Bitcoin. He leveraged this historical moment to underscore XRP’s strong standing in the crypto market, implying that XRP would eventually secure an ETF listing, mirroring Ethereum and Bitcoin.
CoinMarketCap data confirms this historical feat. On January 7, 2018, XRP boasted a market cap of $130 billion, eclipsing Ethereum’s $111 billion. At that time, XRP traded at $3.30. However, XRP’s fortunes have since reversed, with its current rank at seventh and a price of $0.52.
$XRP
#Binance #Xrp🔥🔥 #XRPUSDT🚨 #XRPVSSEC #XRPnews
In an interview, Ripple CEO Brad Garlinghouse recalled a time when XRP’s market capitalization surpassed Ethereum’s, ranking second only to Bitcoin. He leveraged this historical moment to underscore XRP’s strong standing in the crypto market, implying that XRP would eventually secure an ETF listing, mirroring Ethereum and Bitcoin.
CoinMarketCap data confirms this historical feat. On January 7, 2018, XRP boasted a market cap of $130 billion, eclipsing Ethereum’s $111 billion. At that time, XRP traded at $3.30. However, XRP’s fortunes have since reversed, with its current rank at seventh and a price of $0.52.
$XRP
#Binance #Xrp🔥🔥 #XRPUSDT🚨 #XRPVSSEC #XRPnews
LIVE
CoinEdition
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Ripple CEO Revives XRP Vs. Ethereum Debate: Can XRP Rise Again?
Ripple’s CEO recently reflected on when XRP overtook Ethereum in market cap.
Brad Garlinghouse used this history to argue that XRP would eventually secure an ETF.
Zach Rector believes the reference suggests a belief that XRP could once again overtake Ethereum.
In an interview, Ripple CEO Brad Garlinghouse recalled a time when XRP’s market capitalization surpassed Ethereum’s, ranking second only to Bitcoin. He leveraged this historical moment to underscore XRP’s strong standing in the crypto market, implying that XRP would eventually secure an ETF listing, mirroring Ethereum and Bitcoin.
CoinMarketCap data confirms this historical feat. On January 7, 2018, XRP boasted a market cap of $130 billion, eclipsing Ethereum’s $111 billion. At that time, XRP traded at $3.30. However, XRP’s fortunes have since reversed, with its current rank at seventh and a price of $0.52.
Garlinghouse further hinted that XRP’s pre-SEC scrutiny value outweighed Ethereum’s. This implies the SEC’s actions may have disproportionately disadvantaged XRP while benefiting Ethereum.
Community commentator Zach Rector interpreted Garlinghouse’s comments as a sign of belief in XRP’s ability to reclaim dominance over Ethereum. “Would he keep bringing this up if it wasn’t going to happen again?” Rector questioned.
However, pro-XRP lawyer Bill Morgan offered a counterpoint. While acknowledging the debatable impact of the SEC’s “free pass” speech on Ethereum, Morgan argued that XRP achieved a more significant legal victory. He highlighted a US federal court order classifying XRP itself as not a security.
That may be so, but then XRP obtained something superior to the speech of a senior SEC official. It obtained an order of the court that the token itself is not a security. 11 months later and the XRP price is barely above what it was before that judgement even though the whole… https://t.co/XuDcUJVs6q
— bill morgan (@Belisarius2020) June 5, 2024
Despite this legal win, Morgan noted that XRP’s price remained virtually unchanged 11 months later, even amidst a broader market bull run. He cautioned against attributing the disparity in price performance between XRP and Ethereum solely to the SEC’s actions.
The post Ripple CEO Revives XRP vs. Ethereum Debate: Can XRP Rise Again? appeared first on Coin Edition.
Brad Garlinghouse used this history to argue that XRP would eventually secure an ETF.
Zach Rector believes the reference suggests a belief that XRP could once again overtake Ethereum.
In an interview, Ripple CEO Brad Garlinghouse recalled a time when XRP’s market capitalization surpassed Ethereum’s, ranking second only to Bitcoin. He leveraged this historical moment to underscore XRP’s strong standing in the crypto market, implying that XRP would eventually secure an ETF listing, mirroring Ethereum and Bitcoin.
CoinMarketCap data confirms this historical feat. On January 7, 2018, XRP boasted a market cap of $130 billion, eclipsing Ethereum’s $111 billion. At that time, XRP traded at $3.30. However, XRP’s fortunes have since reversed, with its current rank at seventh and a price of $0.52.
Garlinghouse further hinted that XRP’s pre-SEC scrutiny value outweighed Ethereum’s. This implies the SEC’s actions may have disproportionately disadvantaged XRP while benefiting Ethereum.
Community commentator Zach Rector interpreted Garlinghouse’s comments as a sign of belief in XRP’s ability to reclaim dominance over Ethereum. “Would he keep bringing this up if it wasn’t going to happen again?” Rector questioned.
However, pro-XRP lawyer Bill Morgan offered a counterpoint. While acknowledging the debatable impact of the SEC’s “free pass” speech on Ethereum, Morgan argued that XRP achieved a more significant legal victory. He highlighted a US federal court order classifying XRP itself as not a security.
That may be so, but then XRP obtained something superior to the speech of a senior SEC official. It obtained an order of the court that the token itself is not a security. 11 months later and the XRP price is barely above what it was before that judgement even though the whole… https://t.co/XuDcUJVs6q
— bill morgan (@Belisarius2020) June 5, 2024
Despite this legal win, Morgan noted that XRP’s price remained virtually unchanged 11 months later, even amidst a broader market bull run. He cautioned against attributing the disparity in price performance between XRP and Ethereum solely to the SEC’s actions.
The post Ripple CEO Revives XRP vs. Ethereum Debate: Can XRP Rise Again? appeared first on Coin Edition.
How Do You Identify and Avoid Airdrop Scams?
Token distribution via airdrops has grown in popularity as a marketing tactic for cryptocurrency projects in the past several years. Unfortunately, the number of airdrop scammers has skyrocketed alongside the popularity of airdrops.
Airdrop scams are going to be defined, illustrated, and most importantly discussed in this post, along with ways to avoid falling victim to them and losing your cryptocurrency holdings.
$BTC $ETH $BNB
#Binance #Airdrop #BTC☀️ #AirdropBinance
Token distribution via airdrops has grown in popularity as a marketing tactic for cryptocurrency projects in the past several years. Unfortunately, the number of airdrop scammers has skyrocketed alongside the popularity of airdrops.
Airdrop scams are going to be defined, illustrated, and most importantly discussed in this post, along with ways to avoid falling victim to them and losing your cryptocurrency holdings.
$BTC $ETH $BNB
#Binance #Airdrop #BTC☀️ #AirdropBinance
LIVEdailyabay
--
How Do You Identify and Avoid Airdrop Scams?
Token distribution via airdrops has grown in popularity as a marketing tactic for cryptocurrency projects in the past several years. Unfortunately, the number of airdrop scammers has skyrocketed alongside the popularity of airdrops.
Airdrop scams are going to be defined, illustrated, and most importantly discussed in this post, along with ways to avoid falling victim to them and losing your cryptocurrency holdings.
How Do Airdrop Scams Work?
False promises of "airdrops," or free tokens or coins, are a common tactic in frauds aimed at cryptocurrency consumers. These schemes take advantage of people's naiveté about cryptocurrency by offering free tokens in the hopes that they will connect their wallets to malicious websites, send money to fraudsters, or provide personal information.
Phishing is the most common method used in airdrop frauds, which are designed to trick consumers into visiting corrupt websites.
Here are a few typical approaches
Scammers use social media, email, and chat platforms to promote phishing websites that seem like real airdrops. Con artists use these tactics to trick users into giving up sensitive information or linking their cryptocurrency wallets.
Put simply, users are enticed to participate in the airdrop in exchange for free tokens. Scammers may seek for private keys, wallet addresses, or personal information from people who show interest in the airdrop. Rather than getting tokens, victims can find that their wallets are empty or have been hijacked.
Scammers make themselves appear to be well-known cryptocurrency exchanges or influencers in order to establish credibility and convince victims to take part in fake airdrops. Scammers may even hack into legal accounts in order to take advantage of the followers of those accounts.
A Guide to Recognizing Airdrop Scams
When analyzing the possibility of airdrops, the following are some warning signs to keep an eye out for:
Airdrops that offer extravagant profits or returns without any effort or investment on your side should be avoided. These airdrops make claims that are not feasible.Suspicious requests: If an airdrop requires you to link your wallet to a website or to reveal sensitive information such as private keys, recovery phrases, or personal details, you should conduct yourself with extreme caution.Lack of transparency: Airdrop projects that do not have clear documentation, whitepapers, or members of the team who have a good reputation should be carefully examined.Phishing attempts: Be on the lookout for all types of phishing techniques, such as bogus websites, emails, and social media profiles that impersonate reputable projects or influencers.
What You Should Do to Avoid Airdrop Scams
Make sure you know the project's goals, team members, and background thoroughly before joining any airdrop. Find out if the airdrop is authentic by looking into it on official platforms including the project website, social media, and trustworthy cryptocurrency forums.
Your private keys, recovery phrases, and any other sensitive information should never be divulged to anyone you do not trust. True airdrops don't necessitate that kind of data to take part. Always exercise caution when asked for personal information; such requests might be phishing efforts.
Ensure that airdrop announcements and marketing are legitimate by verifying their legitimacy through official channels.
Keep yourself updated on the latest airdrop scam strategies and be on the lookout for any hazards. Maintain a level of expertise in cryptocurrency by keeping up with the newest news and learning how to safeguard your assets.
Notify the appropriate authorities, such as cryptocurrency exchanges, regulatory bodies, or law enforcement agencies, if you come across a suspected airdrop scam or fraudulent behavior with the intention of obtaining cryptocurrency. You can mitigate the risk of further harm to yourself and others in the community by promptly reporting any frauds that you encounter.
#Airdrops #AirdropsScams #AirdropGuide
--
Disclaimer: The information provided herein is offered "as is" for illustrative and informational purposes only, with no representation or warranty whatsoever. This information is not intended to vouch for financial, legal, or other professional advice, nor does it endorse the purchase of any particular product or service.
Airdrop scams are going to be defined, illustrated, and most importantly discussed in this post, along with ways to avoid falling victim to them and losing your cryptocurrency holdings.
How Do Airdrop Scams Work?
False promises of "airdrops," or free tokens or coins, are a common tactic in frauds aimed at cryptocurrency consumers. These schemes take advantage of people's naiveté about cryptocurrency by offering free tokens in the hopes that they will connect their wallets to malicious websites, send money to fraudsters, or provide personal information.
Phishing is the most common method used in airdrop frauds, which are designed to trick consumers into visiting corrupt websites.
Here are a few typical approaches
Scammers use social media, email, and chat platforms to promote phishing websites that seem like real airdrops. Con artists use these tactics to trick users into giving up sensitive information or linking their cryptocurrency wallets.
Put simply, users are enticed to participate in the airdrop in exchange for free tokens. Scammers may seek for private keys, wallet addresses, or personal information from people who show interest in the airdrop. Rather than getting tokens, victims can find that their wallets are empty or have been hijacked.
Scammers make themselves appear to be well-known cryptocurrency exchanges or influencers in order to establish credibility and convince victims to take part in fake airdrops. Scammers may even hack into legal accounts in order to take advantage of the followers of those accounts.
A Guide to Recognizing Airdrop Scams
When analyzing the possibility of airdrops, the following are some warning signs to keep an eye out for:
Airdrops that offer extravagant profits or returns without any effort or investment on your side should be avoided. These airdrops make claims that are not feasible.Suspicious requests: If an airdrop requires you to link your wallet to a website or to reveal sensitive information such as private keys, recovery phrases, or personal details, you should conduct yourself with extreme caution.Lack of transparency: Airdrop projects that do not have clear documentation, whitepapers, or members of the team who have a good reputation should be carefully examined.Phishing attempts: Be on the lookout for all types of phishing techniques, such as bogus websites, emails, and social media profiles that impersonate reputable projects or influencers.
What You Should Do to Avoid Airdrop Scams
Make sure you know the project's goals, team members, and background thoroughly before joining any airdrop. Find out if the airdrop is authentic by looking into it on official platforms including the project website, social media, and trustworthy cryptocurrency forums.
Your private keys, recovery phrases, and any other sensitive information should never be divulged to anyone you do not trust. True airdrops don't necessitate that kind of data to take part. Always exercise caution when asked for personal information; such requests might be phishing efforts.
Ensure that airdrop announcements and marketing are legitimate by verifying their legitimacy through official channels.
Keep yourself updated on the latest airdrop scam strategies and be on the lookout for any hazards. Maintain a level of expertise in cryptocurrency by keeping up with the newest news and learning how to safeguard your assets.
Notify the appropriate authorities, such as cryptocurrency exchanges, regulatory bodies, or law enforcement agencies, if you come across a suspected airdrop scam or fraudulent behavior with the intention of obtaining cryptocurrency. You can mitigate the risk of further harm to yourself and others in the community by promptly reporting any frauds that you encounter.
#Airdrops #AirdropsScams #AirdropGuide
--
Disclaimer: The information provided herein is offered "as is" for illustrative and informational purposes only, with no representation or warranty whatsoever. This information is not intended to vouch for financial, legal, or other professional advice, nor does it endorse the purchase of any particular product or service.
Six Things to Watch This Week As Bitcoin’s Price Inches Toward 69K
This is the last week of employment data before the June 12 Federal Reserve meeting kicks off.
Investors will examine several economic reports that will be incorporated into the Fed’s future policy considerations. Friday’s crucial job market reports will be one to watch.
Crypto markets have gone through the weekend with very little movement either way for most digital assets.
Economic Events June 3-7
Monday will see May’s ISM Manufacturing PMI (Purchasing Managers’ Index) report which shows business conditions in the U.S. manufacturing sector.
$BTC
#Binance #BTC☀️ #BTC🌪️ #btcupdates #BTC☀
This is the last week of employment data before the June 12 Federal Reserve meeting kicks off.
Investors will examine several economic reports that will be incorporated into the Fed’s future policy considerations. Friday’s crucial job market reports will be one to watch.
Crypto markets have gone through the weekend with very little movement either way for most digital assets.
Economic Events June 3-7
Monday will see May’s ISM Manufacturing PMI (Purchasing Managers’ Index) report which shows business conditions in the U.S. manufacturing sector.
$BTC
#Binance #BTC☀️ #BTC🌪️ #btcupdates #BTC☀
LIVECryptoPotato
--
Six Things to Watch This Week As Bitcoin’s Price Inches Toward $69K
This is the last week of employment data before the June 12 Federal Reserve meeting kicks off.
Investors will examine several economic reports that will be incorporated into the Fed’s future policy considerations. Friday’s crucial job market reports will be one to watch.
Crypto markets have gone through the weekend with very little movement either way for most digital assets.
Economic Events June 3-7
Monday will see May’s ISM Manufacturing PMI (Purchasing Managers’ Index) report which shows business conditions in the U.S. manufacturing sector.
This data is considered a reliable leading indicator for assessing the state of the U.S. economy and can be used to help anticipate changing economic trends.
The services sector may be considered more important as it contributes over 70% of the U.S. GDP. On Wednesday, the May ISM Services PMI will be released, which will also serve as a leading indicator of changes in economic conditions.
Key Events This Week:
1. ISM Manufacturing PMI data – Monday
2. JOLTs Job Openings data – Tuesday
3. ADP Nonfarm Employment data – Wednesday
4. ISM Non-Manufacturing PMI data – Wednesday
5. May S&P Global Services PMI data – Wednesday
6. May Jobs Report – Friday
It’s all…
— The Kobeissi Letter (@KobeissiLetter) June 2, 2024
Friday’s Payrolls and Unemployment reports from the Labor Department’s Bureau of Labor Statistics provide the number of new jobs created during the previous month, along with the percentage of active employment seekers.
These are the most significant reports of the week as policymakers follow these figures which are strongly associated with the overall health of the economy. The Fed also pays close attention to the labor market changes when determining its policy decisions.
“It will be key to see whether the US labor market continues cooling,” commented Global Macro Investor before adding:
“Wall Street analysts expect 180,000 new jobs to be added and the unemployment rate to stay at 3.9%. Meanwhile, revised US labor market data already points to a recession.”
Crypto Market Outlook
It is unlikely that this week’s employment and economic reports will have much of an impact on crypto markets, which are more closely affected by CPI inflation reports.
Total market capitalization hasn’t moved much over the past few days and remains at $2.68 trillion.
However, Bitcoin prices started to move upwards during the Monday morning Asian trading session, adding 1.4% on the day to reach $68,619 at the time of writing. It has remained tightly rangebound since it failed to top $70,000 again in late May.
Ethereum had recovered minor losses to return to $3,800 and the altcoins were mostly flat aside from Toncoin which added 10% over the past 24 hours.
The post Six Things to Watch This Week as Bitcoin’s Price Inches Toward $69K appeared first on CryptoPotato.
Investors will examine several economic reports that will be incorporated into the Fed’s future policy considerations. Friday’s crucial job market reports will be one to watch.
Crypto markets have gone through the weekend with very little movement either way for most digital assets.
Economic Events June 3-7
Monday will see May’s ISM Manufacturing PMI (Purchasing Managers’ Index) report which shows business conditions in the U.S. manufacturing sector.
This data is considered a reliable leading indicator for assessing the state of the U.S. economy and can be used to help anticipate changing economic trends.
The services sector may be considered more important as it contributes over 70% of the U.S. GDP. On Wednesday, the May ISM Services PMI will be released, which will also serve as a leading indicator of changes in economic conditions.
Key Events This Week:
1. ISM Manufacturing PMI data – Monday
2. JOLTs Job Openings data – Tuesday
3. ADP Nonfarm Employment data – Wednesday
4. ISM Non-Manufacturing PMI data – Wednesday
5. May S&P Global Services PMI data – Wednesday
6. May Jobs Report – Friday
It’s all…
— The Kobeissi Letter (@KobeissiLetter) June 2, 2024
Friday’s Payrolls and Unemployment reports from the Labor Department’s Bureau of Labor Statistics provide the number of new jobs created during the previous month, along with the percentage of active employment seekers.
These are the most significant reports of the week as policymakers follow these figures which are strongly associated with the overall health of the economy. The Fed also pays close attention to the labor market changes when determining its policy decisions.
“It will be key to see whether the US labor market continues cooling,” commented Global Macro Investor before adding:
“Wall Street analysts expect 180,000 new jobs to be added and the unemployment rate to stay at 3.9%. Meanwhile, revised US labor market data already points to a recession.”
Crypto Market Outlook
It is unlikely that this week’s employment and economic reports will have much of an impact on crypto markets, which are more closely affected by CPI inflation reports.
Total market capitalization hasn’t moved much over the past few days and remains at $2.68 trillion.
However, Bitcoin prices started to move upwards during the Monday morning Asian trading session, adding 1.4% on the day to reach $68,619 at the time of writing. It has remained tightly rangebound since it failed to top $70,000 again in late May.
Ethereum had recovered minor losses to return to $3,800 and the altcoins were mostly flat aside from Toncoin which added 10% over the past 24 hours.
The post Six Things to Watch This Week as Bitcoin’s Price Inches Toward $69K appeared first on CryptoPotato.
JASMY Price Surge Between 7,000% and 12,000%
● JASMY price could surge by over 7,000% to 12,000% in the coming months.
● Analyst says this is possible due to the assets technical setup.
● The project’s Apple collaboration via Japan’s My Number Card fuels bullish sentiment.
JasmyCoin’s (JASMY) steady rise over the past week keeps the token in a steady and bullish traction to the top. The trigger to this bullish surge may have been the collaboration announcement between JASMY and Apple via Japan’s My Number Card feature, but the continued momentum comes from the altcoins bullish community.
$JASMY
#Binance #JASMY #JASMY/USDT #Jasmyusdt⚠️⚠️ #Web3
● JASMY price could surge by over 7,000% to 12,000% in the coming months.
● Analyst says this is possible due to the assets technical setup.
● The project’s Apple collaboration via Japan’s My Number Card fuels bullish sentiment.
JasmyCoin’s (JASMY) steady rise over the past week keeps the token in a steady and bullish traction to the top. The trigger to this bullish surge may have been the collaboration announcement between JASMY and Apple via Japan’s My Number Card feature, but the continued momentum comes from the altcoins bullish community.
$JASMY
#Binance #JASMY #JASMY/USDT #Jasmyusdt⚠️⚠️ #Web3
LIVECryptoNewsLand
--
JASMY Price Surge Between 7,000% and 12,000% Is Already Underway According to JasmyCoin’s Technic...
JASMY price could surge by over 7,000% to 12,000% in the coming months.
Analyst says this is possible due to the assets technical setup.
The project’s Apple collaboration via Japan’s My Number Card fuels bullish sentiment.
JasmyCoin’s (JASMY) steady rise over the past week keeps the token in a steady and bullish traction to the top. The trigger to this bullish surge may have been the collaboration announcement between JASMY and Apple via Japan’s My Number Card feature, but the continued momentum comes from the altcoins bullish community.
This paired with the altcoin’s particular technical setup has placed the asset for a nice and smooth upward price projection. According to one analyst, the price of JASMY can pull another 71x or even a 120x price surge in the coming golden bull run phase.
In detail, the analyst shares his first observation. Here, he marks how JASMY’s price made over 1,180% since the analysis he made earlier on. He marks the trajectory of the coin from $0.003 to $0.04. To add on, he says his bullish prediction for the asset to hit $2.9 is still very much in play.
$JASMY (JasmyCoin)'s price made an over +1,180% move since the attached analysis, from ≈$0.003125 to $0.040115, and "The Path to $2.90+" REMAINS !This particular technical setup can imply another near 71X (Over +7,000%) and the process looks more than underway."First they… https://t.co/7Vkm4x1LAq pic.twitter.com/H1izdFD7wZ
— JAVON MARKS (@JavonTM1) June 3, 2024
He notes how this price action comes from a particular technical setup which could bring about another surge of over 7,000% for the token. In fact, the analyst believes this movement is already underway. When the analyst made this prediction back in October 2023, he expected a 906x for JASMY.
$JASMY (JasmyCoin) has entered yet another EXTREME CONTINUATION and can overall be in pursuit of the $4.47842 target level as sizable price breakouts hold!This can result in another +12,000% upside or, a >120X… https://t.co/kH3xYIKo5a pic.twitter.com/XpLNoKri6Q
— JAVON MARKS (@JavonTM1) June 1, 2024
Coming back to JASMY present price action, the same analyst releases a new statement confirming that JASMY price has entered yet another ‘extreme continuation’ and believes the overall pursuit for a $4.478 price target breakout is in motion. He concludes by stating that JASMY price could see over 12,000% upside in the coming golden bull run phase.
According to CoinMarketCap analytics, the asset known as the Bitcoin of Japan, JasmyCoin (JASMY) price stands at $0.034 with a total market cap of $1,682,058,505 at a 24 hour trading volume of $448,727,175 which is up by over 20% and rising.
Read Also
Will JASMY Surpass the $1 Mark in 2024? Insights into JasmyCoin’s Future Growth
JasmyCoin (JASMY) Skyrockets: Apple Partnership Speculation Sparks $1 Price Target
JASMY Glowing Forecast: From Humble Gains to a Staggering $0.0893 in 2024
JASMY Price Pumped by Over 20% in Last 24 Hours Following Apple Collaboration via Japan’s My Number Card, Can JasmyCoin Break $1 Before August?
Jasmy Pump Unstoppable, Surges Over 25% and Counting in 24 Hours
The post JASMY Price Surge Between 7,000% and 12,000% Is Already Underway According to JasmyCoin’s Technical Setup appeared first on Crypto News Land.
Analyst says this is possible due to the assets technical setup.
The project’s Apple collaboration via Japan’s My Number Card fuels bullish sentiment.
JasmyCoin’s (JASMY) steady rise over the past week keeps the token in a steady and bullish traction to the top. The trigger to this bullish surge may have been the collaboration announcement between JASMY and Apple via Japan’s My Number Card feature, but the continued momentum comes from the altcoins bullish community.
This paired with the altcoin’s particular technical setup has placed the asset for a nice and smooth upward price projection. According to one analyst, the price of JASMY can pull another 71x or even a 120x price surge in the coming golden bull run phase.
In detail, the analyst shares his first observation. Here, he marks how JASMY’s price made over 1,180% since the analysis he made earlier on. He marks the trajectory of the coin from $0.003 to $0.04. To add on, he says his bullish prediction for the asset to hit $2.9 is still very much in play.
$JASMY (JasmyCoin)'s price made an over +1,180% move since the attached analysis, from ≈$0.003125 to $0.040115, and "The Path to $2.90+" REMAINS !This particular technical setup can imply another near 71X (Over +7,000%) and the process looks more than underway."First they… https://t.co/7Vkm4x1LAq pic.twitter.com/H1izdFD7wZ
— JAVON MARKS (@JavonTM1) June 3, 2024
He notes how this price action comes from a particular technical setup which could bring about another surge of over 7,000% for the token. In fact, the analyst believes this movement is already underway. When the analyst made this prediction back in October 2023, he expected a 906x for JASMY.
$JASMY (JasmyCoin) has entered yet another EXTREME CONTINUATION and can overall be in pursuit of the $4.47842 target level as sizable price breakouts hold!This can result in another +12,000% upside or, a >120X… https://t.co/kH3xYIKo5a pic.twitter.com/XpLNoKri6Q
— JAVON MARKS (@JavonTM1) June 1, 2024
Coming back to JASMY present price action, the same analyst releases a new statement confirming that JASMY price has entered yet another ‘extreme continuation’ and believes the overall pursuit for a $4.478 price target breakout is in motion. He concludes by stating that JASMY price could see over 12,000% upside in the coming golden bull run phase.
According to CoinMarketCap analytics, the asset known as the Bitcoin of Japan, JasmyCoin (JASMY) price stands at $0.034 with a total market cap of $1,682,058,505 at a 24 hour trading volume of $448,727,175 which is up by over 20% and rising.
Read Also
Will JASMY Surpass the $1 Mark in 2024? Insights into JasmyCoin’s Future Growth
JasmyCoin (JASMY) Skyrockets: Apple Partnership Speculation Sparks $1 Price Target
JASMY Glowing Forecast: From Humble Gains to a Staggering $0.0893 in 2024
JASMY Price Pumped by Over 20% in Last 24 Hours Following Apple Collaboration via Japan’s My Number Card, Can JasmyCoin Break $1 Before August?
Jasmy Pump Unstoppable, Surges Over 25% and Counting in 24 Hours
The post JASMY Price Surge Between 7,000% and 12,000% Is Already Underway According to JasmyCoin’s Technical Setup appeared first on Crypto News Land.
Lihat asli
LIVECoinstages
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Here’s Shiba Inu (SHIB) Likely Price If Bitcoin Hits $500,000
The cryptocurrency market is a dynamic landscape, where the price movements of established players like Bitcoin (BTC) can have a ripple effect on altcoins like Shiba Inu (SHIB). This article explores the theoretical scenario of a $500,000 Bitcoin and its potential impact on Shiba Inu’s price.
Bitcoin’s Dominating Influence
Bitcoin holds a unique position within the digital asset ecosystem. Its price movements are often seen as a bellwether for the broader market. During previous bull runs, Bitcoin’s surges to new highs preceded similar rallies in altcoins.
Analysts anticipate a similar trend in the current cycle, with an altcoin season (a period of outperformance by altcoins relative to Bitcoin) expected to follow Bitcoin’s peak.
Predicting the Bitcoin Peak
Determining Bitcoin’s peak price for this cycle is an ongoing debate. While it surpassed the previous cycle’s peak in March 2024, reaching $73,000, many analysts believe there’s room for further growth.
Industry figures like Mike Novogratz and Robert Kiyosaki project a $100,000 target, while others like Richard Teng and Standard Chartered are more conservative with a $150,000 estimate.
Raoul Pal raises the bar to $250,000, and Cathie Wood’s Ark Invest takes an ambitious leap, forecasting a $1 million Bitcoin within the next six years. Even Jack Dorsey, former CEO of Twitter, aligns with the million-dollar prediction.
While Bitcoin’s influence is undeniable, it doesn’t dictate the exact movements of altcoins like Shiba Inu. However, by analyzing market capitalization and historical trends, we can make an educated guess about SHIB’s potential price under the hypothetical scenario of a $500,000 Bitcoin.
Projecting Shiba Inu’s Price
Let’s assume Bitcoin reaches $500,000. This would translate to a significant increase in its market cap, from its current $1.330 trillion to a staggering $9.85 trillion
If Shiba Inu were to experience a proportional rise in market cap mirroring Bitcoin’s projected growth (650.7%), its market capitalization would surge from its current $14.3 billion to a noteworthy $93 billion.
With this hypothetical market cap, we can estimate a theoretical price for SHIB. Currently, Shiba Inu has a circulating supply of approximately 589 trillion tokens and its price hovers around $0.000024. To reach the projected $93 billion market cap, the price per SHIB would need to adjust to $0.000166
It’s crucial to acknowledge the highly speculative nature of these projections. The cryptocurrency market is known for its volatility, and several factors can significantly influence SHIB’s price beyond Bitcoin’s movements. Technological advancements, regulatory decisions, and overall market sentiment can all play a role in shaping Shiba Inu’s price trajectory.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#ShibaInu #SHIB
Bitcoin’s Dominating Influence
Bitcoin holds a unique position within the digital asset ecosystem. Its price movements are often seen as a bellwether for the broader market. During previous bull runs, Bitcoin’s surges to new highs preceded similar rallies in altcoins.
Analysts anticipate a similar trend in the current cycle, with an altcoin season (a period of outperformance by altcoins relative to Bitcoin) expected to follow Bitcoin’s peak.
Predicting the Bitcoin Peak
Determining Bitcoin’s peak price for this cycle is an ongoing debate. While it surpassed the previous cycle’s peak in March 2024, reaching $73,000, many analysts believe there’s room for further growth.
Industry figures like Mike Novogratz and Robert Kiyosaki project a $100,000 target, while others like Richard Teng and Standard Chartered are more conservative with a $150,000 estimate.
Raoul Pal raises the bar to $250,000, and Cathie Wood’s Ark Invest takes an ambitious leap, forecasting a $1 million Bitcoin within the next six years. Even Jack Dorsey, former CEO of Twitter, aligns with the million-dollar prediction.
While Bitcoin’s influence is undeniable, it doesn’t dictate the exact movements of altcoins like Shiba Inu. However, by analyzing market capitalization and historical trends, we can make an educated guess about SHIB’s potential price under the hypothetical scenario of a $500,000 Bitcoin.
Projecting Shiba Inu’s Price
Let’s assume Bitcoin reaches $500,000. This would translate to a significant increase in its market cap, from its current $1.330 trillion to a staggering $9.85 trillion
If Shiba Inu were to experience a proportional rise in market cap mirroring Bitcoin’s projected growth (650.7%), its market capitalization would surge from its current $14.3 billion to a noteworthy $93 billion.
With this hypothetical market cap, we can estimate a theoretical price for SHIB. Currently, Shiba Inu has a circulating supply of approximately 589 trillion tokens and its price hovers around $0.000024. To reach the projected $93 billion market cap, the price per SHIB would need to adjust to $0.000166
It’s crucial to acknowledge the highly speculative nature of these projections. The cryptocurrency market is known for its volatility, and several factors can significantly influence SHIB’s price beyond Bitcoin’s movements. Technological advancements, regulatory decisions, and overall market sentiment can all play a role in shaping Shiba Inu’s price trajectory.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#ShibaInu #SHIB
Lihat asli
LIVEBSCDaily
--
Lista - Second listing on Binance Megadrop - Everything you need to know
Let’s explore Lista - an Open-source liquidity protocol designed to facilitate earning yields on collateralized crypto assets as well as enable borrowing through its decentralized stablecoin
#MegadropLista #Megadrop
I. Lista Overview:
1) Lista DAO Description:
Lista DAO is an innovative open-source liquidity protocol designed to facilitate earning yields on collateralized crypto assets and to enable borrowing through its decentralized stablecoin, lisUSD, also known as a "Destablecoin." By leveraging and expanding upon the proven MakerDAO model, Lista DAO aims to create a decentralized, unbiased, collateral-backed stablecoin ecosystem.
2) $LISTA key feature:
a. Hybrid Stability Model:
Algorithmic models & collateralized were combined to balance Stability & ScalabilityAvoid purely custodial / Algorithmic stablecoins which can lead to project pitfalls
b) Capital Efficiency:
With their special “Collateral Debt Positions” they manage to solve the capital efficiency problem of over-collateralized stablecoinsThis allows users to use leverage in a more effective way
c) MakerDAO functionality:
The makerDAO-proven mechanism will be used to support collateral-backed stablecoin issuance as well as managementThis will create a robust & Decentralized governance structure
d) Decentralized liquidity:
ListaDao Liquidity Providers (LPs) enhance liquidity to prevent issues like frozen funds and value loss
e) Yield-Bearing Assets:
Allow user to earn yields from their collateralized assetsProof-of-stake rewards for additional earnings
Our thoughts: Lista DAO presents a hybrid robust approach by integrating the benefits of collateralized and algorithmic stablecoins while mitigating risks all while being transparent with said risks. Through Liquid Staking & MakerDAO mechanisms its have enhanced capital efficiency, and allowed easy and effective asset leverage & yield generation Lista Dao has also been developed by seasonal DeFi & Smart contract experts, they focus on practical rewards from Proof-of-Stake & Yield-Bearing assets, which can lead Lista a potential token to look into in the coming bullrush
II. Use cases Lista DAO:
Lista DAO:
Collateralise BNB. Borrow lisUSD Farm lisUSDRepay the loan (lisUSD + borrowing interest (currently set at 0%). Withdraw collateralClaim reward in Lista for borrowing lisUSD (coming soon) Participate in protocol governance, using LISTA tokens (coming soon)
$LISTA:
Governance: LISTA token holders can vote on protocol’s governance decisions.Protocol Incentivization: Users can earn LISTA tokens as rewards when they borrow lisUSD against collaterals or do liquidity farming in lisUSD and slisBNB pools.Voting gauge: users can lock their LISTA tokens as veLISTA and vote for the collaterals that they want to use to mint lisUSD and the liquidity pools that they want to provide LP with higher emissions.Fee sharing: Users who lock their LISTA for veLISTA will also be eligible for fee sharing.Major Components:BNB liquid staking token slisBNBDecentralized stablecoin lisUSD
III. Price Prediction:
Let's gather other projects that are related to Staking/Restaking Protocol, $ETHFI $REZ, the average market cap of these projects is around $340M. We think $LISTA will be around this market cap of $250M - $300M
Initial Circulating Supply When listed on Binance of $LISTA is 23% ( 230M $LISTA), therefore, the price of $LISTA could be around 1.09-1.30$
IV. How to Join the Megadrop:
1) First, you need a Binance Account.
If you don't have a Binance account, register via the below link to get a 20% discount trading fee 👇
REGISTER HERE
2) How to be eligible for Megadrop:
KYC on #BinanceUsers in Campaign RegionsParticipate in Megadrop Campaigns
There are 2 ways to participate (Recommend: Joining Both)
2.1 Staking BNB
Go to your Binance App on PhoneFind Megadrop, Scroll down to "Lock BNB" Section.The more $BNB + the longer you lock, the more score you get.
CLICK HERE to start locking your BNB NOW
2.2 Complete Web3 Quest 1: “Stake 0.01 BNB in the ListaDAO DApp”
Step 1: Funding your wallet with BNB
Log in to your Binance app and click on the “Wallets” section. Go to “Web3”.
To fund your wallet, click on “receive”. If you are transferring funds from your Binance account, click on “transfer in”.
Select the Coin to transfer, which will be BNB in this case, and choose the BNB smart chain (BEP-20) network to transfer your funds through.
Select the amount of BNB that you would like to transfer into your Binance Web3 wallet, and click withdraw. Note: To qualify for Lista DAO’s “The Drop” campaign, a minimum of 0.01 BNB is required to be liquid staked into slisBNB.
Step 2: Liquid staking BNB into slisBNB on Lista DAO
Once your wallet has been funded with BNB, the next step is to liquid stake your BNB into slisBNB on Lista DAO.Head over to the “Discover” section.
Search for “Lista DAO” in the search bar, and click on Lista DAO.
You will be redirected to Lista DAO’s landing page in the app. Connect your Binance Web3 wallet, and click on “Stake”.
Input the amount of BNB you would like to liquid stake on Lista. Remember to leave some BNB behind for gas!
Confirm the transaction, and a notification will appear once your BNB has been liquid staked on Lista DAO.
Step 3: How to Withdrawing/Unstaking BNB on Lisa DAO
To unstake BNB on Lista DAO, navigate to the Lista DAO page by following the instructions given in step 2. (from instructions 1 to 4).
Connect your Binance Web3 Wallet and click on “Stake BNB”.
Head over to the unstaking section by clicking on the “unstake”, input the amount of BNB you would like to withdraw/unstake, and confirm the transaction. Take note: There will be a 7-15 day unstaking period.
Once the withdrawal transaction has been confirmed, you can monitor the status of your withdrawal under the “withdrawal section” here.
Once the transaction has been confirmed, you are done!
CLICK HERE to participate in Lista Megadrop NOW!
#MegadropLista #Megadrop
I. Lista Overview:
1) Lista DAO Description:
Lista DAO is an innovative open-source liquidity protocol designed to facilitate earning yields on collateralized crypto assets and to enable borrowing through its decentralized stablecoin, lisUSD, also known as a "Destablecoin." By leveraging and expanding upon the proven MakerDAO model, Lista DAO aims to create a decentralized, unbiased, collateral-backed stablecoin ecosystem.
2) $LISTA key feature:
a. Hybrid Stability Model:
Algorithmic models & collateralized were combined to balance Stability & ScalabilityAvoid purely custodial / Algorithmic stablecoins which can lead to project pitfalls
b) Capital Efficiency:
With their special “Collateral Debt Positions” they manage to solve the capital efficiency problem of over-collateralized stablecoinsThis allows users to use leverage in a more effective way
c) MakerDAO functionality:
The makerDAO-proven mechanism will be used to support collateral-backed stablecoin issuance as well as managementThis will create a robust & Decentralized governance structure
d) Decentralized liquidity:
ListaDao Liquidity Providers (LPs) enhance liquidity to prevent issues like frozen funds and value loss
e) Yield-Bearing Assets:
Allow user to earn yields from their collateralized assetsProof-of-stake rewards for additional earnings
Our thoughts: Lista DAO presents a hybrid robust approach by integrating the benefits of collateralized and algorithmic stablecoins while mitigating risks all while being transparent with said risks. Through Liquid Staking & MakerDAO mechanisms its have enhanced capital efficiency, and allowed easy and effective asset leverage & yield generation Lista Dao has also been developed by seasonal DeFi & Smart contract experts, they focus on practical rewards from Proof-of-Stake & Yield-Bearing assets, which can lead Lista a potential token to look into in the coming bullrush
II. Use cases Lista DAO:
Lista DAO:
Collateralise BNB. Borrow lisUSD Farm lisUSDRepay the loan (lisUSD + borrowing interest (currently set at 0%). Withdraw collateralClaim reward in Lista for borrowing lisUSD (coming soon) Participate in protocol governance, using LISTA tokens (coming soon)
$LISTA:
Governance: LISTA token holders can vote on protocol’s governance decisions.Protocol Incentivization: Users can earn LISTA tokens as rewards when they borrow lisUSD against collaterals or do liquidity farming in lisUSD and slisBNB pools.Voting gauge: users can lock their LISTA tokens as veLISTA and vote for the collaterals that they want to use to mint lisUSD and the liquidity pools that they want to provide LP with higher emissions.Fee sharing: Users who lock their LISTA for veLISTA will also be eligible for fee sharing.Major Components:BNB liquid staking token slisBNBDecentralized stablecoin lisUSD
III. Price Prediction:
Let's gather other projects that are related to Staking/Restaking Protocol, $ETHFI $REZ, the average market cap of these projects is around $340M. We think $LISTA will be around this market cap of $250M - $300M
Initial Circulating Supply When listed on Binance of $LISTA is 23% ( 230M $LISTA), therefore, the price of $LISTA could be around 1.09-1.30$
IV. How to Join the Megadrop:
1) First, you need a Binance Account.
If you don't have a Binance account, register via the below link to get a 20% discount trading fee 👇
REGISTER HERE
2) How to be eligible for Megadrop:
KYC on #BinanceUsers in Campaign RegionsParticipate in Megadrop Campaigns
There are 2 ways to participate (Recommend: Joining Both)
2.1 Staking BNB
Go to your Binance App on PhoneFind Megadrop, Scroll down to "Lock BNB" Section.The more $BNB + the longer you lock, the more score you get.
CLICK HERE to start locking your BNB NOW
2.2 Complete Web3 Quest 1: “Stake 0.01 BNB in the ListaDAO DApp”
Step 1: Funding your wallet with BNB
Log in to your Binance app and click on the “Wallets” section. Go to “Web3”.
To fund your wallet, click on “receive”. If you are transferring funds from your Binance account, click on “transfer in”.
Select the Coin to transfer, which will be BNB in this case, and choose the BNB smart chain (BEP-20) network to transfer your funds through.
Select the amount of BNB that you would like to transfer into your Binance Web3 wallet, and click withdraw. Note: To qualify for Lista DAO’s “The Drop” campaign, a minimum of 0.01 BNB is required to be liquid staked into slisBNB.
Step 2: Liquid staking BNB into slisBNB on Lista DAO
Once your wallet has been funded with BNB, the next step is to liquid stake your BNB into slisBNB on Lista DAO.Head over to the “Discover” section.
Search for “Lista DAO” in the search bar, and click on Lista DAO.
You will be redirected to Lista DAO’s landing page in the app. Connect your Binance Web3 wallet, and click on “Stake”.
Input the amount of BNB you would like to liquid stake on Lista. Remember to leave some BNB behind for gas!
Confirm the transaction, and a notification will appear once your BNB has been liquid staked on Lista DAO.
Step 3: How to Withdrawing/Unstaking BNB on Lisa DAO
To unstake BNB on Lista DAO, navigate to the Lista DAO page by following the instructions given in step 2. (from instructions 1 to 4).
Connect your Binance Web3 Wallet and click on “Stake BNB”.
Head over to the unstaking section by clicking on the “unstake”, input the amount of BNB you would like to withdraw/unstake, and confirm the transaction. Take note: There will be a 7-15 day unstaking period.
Once the withdrawal transaction has been confirmed, you can monitor the status of your withdrawal under the “withdrawal section” here.
Once the transaction has been confirmed, you are done!
CLICK HERE to participate in Lista Megadrop NOW!
LIVEZyCrypto
--
Ripple’s XRP Price Rocket to $10 Looking Likely in This Scenario Amid $3 Trillion XRP Market Outlook
XRP, the seventh-largest cryptocurrency by market capitalization, has been experiencing a period of sideways trading, with its volatility subdued in recent months.
This comes as the crypto market witnesses a surge in interest, particularly with the rise of meme coin Dogecoin, which has surpassed industry stalwarts like Cardano. Despite the current lull, pundits forecast a significant upturn for XRP in the second half of 2024.
In a recent post on X, analyst Egrag Crypto highlighted the potential for a remarkable surge in XRP’s market capitalization before the end of the year.
“Once XRP Market Capitalization (MC) blasts out of ‘The White Channel,’ we’re looking at a moonshot to a $3T market cap. The mid-point of the channel is $100B, and the high-end reaches $287B. This is where XRP MC will propel like a rocket!” Wrote the pundit, urging the XRP community to stay ready.
On the other hand, Matthew Dixon, CEO of AI-based crypto investment firm Evai, stated he anticipates a minor pullback before a substantial rally in the C wave, cautioning about the pre-terminal nature of triangle patterns in technical analysis.
“XRP rally correlates with solid positivity across most Crypto. But if the triangle interpretation is correct, remember, Triangles are pre-terminal waves followed by an aggressive terminal thrust (C wave).” He stated.
After analyzing a triangle pattern, analyst “JacktheRippler” predicted an end to XRP’s accumulation phase, suggesting a price pump to $5-$10 per XRP. Such a surge would represent approximately a 1,800% increase from current prices.
However, despite these optimistic forecasts, concerns persist regarding Ripple’s token sales. Ripple plans to sell 400 million XRP in June, marking the largest token sale in seven years. With Ripple holding significant XRP reserves, including 40.1 billion in escrow, ongoing sell-offs could negatively impact price movements.
Moreover, the lingering legal battle with the U.S. Securities and Exchange Commission (SEC) has been a persistent drag on XRP’s price for the past four years. While the court ruled last May that XRP is not a security, a potential settlement later this year could boost the cryptocurrency’s value.
At the time of writing, XRP was trading at $0.5195, reflecting a modest 1.26% gain over the past 24 hours. However, trading volume surged by 61.54% during the same period, indicating a renewed interest in the cryptocurrency despite the current price stagnation.
This comes as the crypto market witnesses a surge in interest, particularly with the rise of meme coin Dogecoin, which has surpassed industry stalwarts like Cardano. Despite the current lull, pundits forecast a significant upturn for XRP in the second half of 2024.
In a recent post on X, analyst Egrag Crypto highlighted the potential for a remarkable surge in XRP’s market capitalization before the end of the year.
“Once XRP Market Capitalization (MC) blasts out of ‘The White Channel,’ we’re looking at a moonshot to a $3T market cap. The mid-point of the channel is $100B, and the high-end reaches $287B. This is where XRP MC will propel like a rocket!” Wrote the pundit, urging the XRP community to stay ready.
On the other hand, Matthew Dixon, CEO of AI-based crypto investment firm Evai, stated he anticipates a minor pullback before a substantial rally in the C wave, cautioning about the pre-terminal nature of triangle patterns in technical analysis.
“XRP rally correlates with solid positivity across most Crypto. But if the triangle interpretation is correct, remember, Triangles are pre-terminal waves followed by an aggressive terminal thrust (C wave).” He stated.
After analyzing a triangle pattern, analyst “JacktheRippler” predicted an end to XRP’s accumulation phase, suggesting a price pump to $5-$10 per XRP. Such a surge would represent approximately a 1,800% increase from current prices.
However, despite these optimistic forecasts, concerns persist regarding Ripple’s token sales. Ripple plans to sell 400 million XRP in June, marking the largest token sale in seven years. With Ripple holding significant XRP reserves, including 40.1 billion in escrow, ongoing sell-offs could negatively impact price movements.
Moreover, the lingering legal battle with the U.S. Securities and Exchange Commission (SEC) has been a persistent drag on XRP’s price for the past four years. While the court ruled last May that XRP is not a security, a potential settlement later this year could boost the cryptocurrency’s value.
At the time of writing, XRP was trading at $0.5195, reflecting a modest 1.26% gain over the past 24 hours. However, trading volume surged by 61.54% during the same period, indicating a renewed interest in the cryptocurrency despite the current price stagnation.
LIVECOINCU
--
MiCA Stablecoin Rules Are Strictly Followed By Binance With Latest Updates
Key Points:
Binance will implement the EU's MiCA stablecoin rules on June 30, 2024, requiring regulated stablecoin issuers.
MiCA stablecoin rules aim to enhance market clarity and stability, potentially increasing the adoption of Regulated Stablecoins.
Binance announced its plan to implement the new Markets in Crypto-Assets (MiCA) stablecoin regulations, which will come into effect on June 30, 2024, across the European Economic Area (EEA).
Read more: Understanding Types Of Stablecoins, Their Stability And Value
Binance Adopts EU's MiCA Stablecoin Rules
The significant regulatory framework, developed by the European Union over several years, aims to enhance oversight and consumer protection in the cryptocurrency market.
The MiCA stablecoin rules will mandate that stablecoins be issued and offered to the public only by regulated entities. These will be classified as “Regulated Stablecoins.” Existing stablecoins that do not meet these requirements will be deemed “Unauthorized Stablecoins” and will face certain restrictions.
To comply with these new MiCA stablecoin rules, Binance will implement phased changes to manage the availability of Unauthorized Stablecoins for EEA users, ensuring a smooth transition to Regulated Stablecoins. These changes will commence on June 30, 2024, and will include the following measures:
Binance Convert: The convert function for Unauthorized Stablecoins will switch to a “sell-only” mode. Depending on jurisdictional fiat channel availability, users can sell Unauthorized Stablecoins for other digital assets, Regulated Stablecoins, or fiat currencies. Buying Unauthorized Stablecoins via the Convert function will be disabled.
Spot Trading: Trading pairs involving Unauthorized Stablecoins will remain available until further notice. Trading pairs with Unauthorized and Regulated Stablecoins will coexist during the transition period.
Wallet Services: Custody and wallet services for Unauthorized Stablecoins will continue, allowing users to deposit or withdraw these stablecoins from their Binance wallets.
MiCA's Impact on Cryptocurrency Market
Unless otherwise noted, Binance will impose general restrictions across its entire product suite, preventing users from engaging in new products or services involving Unauthorized Stablecoins from June 30, 2024.
The regulatory update reflects the EU's efforts to bring more clarity and stability to the cryptocurrency market with the MiCA framework. Binance's measures demonstrate its commitment to compliance and user protection within this evolving regulatory landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Binance will implement the EU's MiCA stablecoin rules on June 30, 2024, requiring regulated stablecoin issuers.
MiCA stablecoin rules aim to enhance market clarity and stability, potentially increasing the adoption of Regulated Stablecoins.
Binance announced its plan to implement the new Markets in Crypto-Assets (MiCA) stablecoin regulations, which will come into effect on June 30, 2024, across the European Economic Area (EEA).
Read more: Understanding Types Of Stablecoins, Their Stability And Value
Binance Adopts EU's MiCA Stablecoin Rules
The significant regulatory framework, developed by the European Union over several years, aims to enhance oversight and consumer protection in the cryptocurrency market.
The MiCA stablecoin rules will mandate that stablecoins be issued and offered to the public only by regulated entities. These will be classified as “Regulated Stablecoins.” Existing stablecoins that do not meet these requirements will be deemed “Unauthorized Stablecoins” and will face certain restrictions.
To comply with these new MiCA stablecoin rules, Binance will implement phased changes to manage the availability of Unauthorized Stablecoins for EEA users, ensuring a smooth transition to Regulated Stablecoins. These changes will commence on June 30, 2024, and will include the following measures:
Binance Convert: The convert function for Unauthorized Stablecoins will switch to a “sell-only” mode. Depending on jurisdictional fiat channel availability, users can sell Unauthorized Stablecoins for other digital assets, Regulated Stablecoins, or fiat currencies. Buying Unauthorized Stablecoins via the Convert function will be disabled.
Spot Trading: Trading pairs involving Unauthorized Stablecoins will remain available until further notice. Trading pairs with Unauthorized and Regulated Stablecoins will coexist during the transition period.
Wallet Services: Custody and wallet services for Unauthorized Stablecoins will continue, allowing users to deposit or withdraw these stablecoins from their Binance wallets.
MiCA's Impact on Cryptocurrency Market
Unless otherwise noted, Binance will impose general restrictions across its entire product suite, preventing users from engaging in new products or services involving Unauthorized Stablecoins from June 30, 2024.
The regulatory update reflects the EU's efforts to bring more clarity and stability to the cryptocurrency market with the MiCA framework. Binance's measures demonstrate its commitment to compliance and user protection within this evolving regulatory landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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