The "Wild West" of Cryptocurrency Trading - cyptoranking.com

2024-05-05

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Major Resistance Levels – $27,400, $27,500, and $28,500.Analyst Van de Poppe Says Bitcoin Uptrend is Coming, Sets the Critical Levels Out of those who remain in Web3, Wyatt asks, “how many of them are going to be good games?” The "Wild West" of Cryptocurrency TradingOther financial exchanges have explored the use of blockchain technology to enhance their efficiency, however HKEX clarified to Blockworks that its system is not based on blockchain, in contrast to an earlier document on its website, which the spokesperson explained was outdated. Ethereum is considered the second largest cryptocurrency by volume, after Bitcoin. Several big names are listed as founding members of the Enterprise Ethereum Alliance (EEA), including Microsoft, Intel, and JP Morgan Chase.

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The CryptoNight algorithm’s creation is fascinating and recalls the origin of Bitcoin. Its creator — who goes by the fictitious name of Nicolas van Saberhagen — disappeared, just like the famous Satoshi Nakamoto. We are working on publishing source for metamask users to obtain their key if they have not already. The issue appears to be with Netlify, but we are still working through it. https://t.co/uYGxJkzGfj Buy Ethereum Online With Debit or Credit CardStark also questioned the effectiveness of the defence strategy in light of some of the previous confessions of SBF about his fake image in public. Subsequently, ETH’s price could attempt to challenge the $1,755 barrier as well. In an extremely bullish scenario, ETH could soar to as high as $1,880 in the coming couple of weeks.

Source / Sam Cooling x TheDigitalArtistAs Uptober takes grip of on-chain markets, crypto prices are surging, and the latest token to skyrocket is DAI Reflections (DRS) - which exploded +25,000% in an over-night moonshot.The unlikely surge comes as market interest was galvanised by this young projects' promise of reflecting the DAI stablecoin on Pulsechain - alongside an upcoming PulseChain is a full-state hard fork of Ethereum, and stealth-launched DRS offers a demand-side pressure for the DAI token - every time a DRS token transacts a 2% fee is applied; his fee is used to buy DAI stablecoin which is then distributed to token holders.DRS Price Analysis: Will DAI-Buy Mechanism Drive DAI Reflections to New Heights?Amid the dramatic upside move, DAI Reflections is currently trading at a market price of $0.053713 (representing a 24-hour change of +1,703%).This comes following the explosive stealth launch at 15:00 yesterday, which surprised all with an initial +6,000% move in the first 4-hours - despite no marketing.DEXtools / DRS USDOvernight price action saw DRS push up a further 54% from here to hit an all-time high at $0.055565 - bringing returns for early-backers to an eye-watering +25,000%.With DRS price action now in localized retracement, all eyes are on the $0.05375 support level - which has so far seen a well-defended consolidation mounted by 561 steadfast bag-holders.The electric move was fuelled by an influx of more than $667k in 24-hour trading volume, which has seen DRS already surge to a $727k market cap.DAI Reflections has an upside move targeting a return to the all-time high at $0.055565 (possible +50.7% move from here), and downside risk standing at lower support around $0.05285 (potential -22.39%).DEXtools / DRS USDThis leaves DRS with a risk: reward ratio of 2.26 on the short-time frame - a strong entry with decent upside potential as buy pressure remains strong representing 63% of transactions over the past hour.But while on-chain traders continue to play with out-sized risk, smart money are flocking to an emerging meme coin project that aims to gamify crypto community rivalries.Meme Kombat Surges to +$400K Raised as Crypto Community Rivalries Heat UpSource / Meme KombatMeet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform - with $411,731 raised in less than two weeks.So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?The essence of Meme Kombat lies in its captivating arena aiming to tap into deeply tribal crypto communities - with a novel approach to gamifying inter-community rivalries.Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there's no shortage of action, and Season 2 is already on the horizon for December 2023.The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable - every battle is a new experience, ensuring players stay engaged.Gamified Staking Rewards Could Fuel Dramatic Growth for Meme KombatMeme Kombat's commitment to transparency and trust is evident through initiatives like the impending security audit of their smart contract.The findings of this audit will soon be public, a move that many projects shy away from.The founder and project lead, Matt Whiteman, isn't an unknown entity in the crypto space.His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.When so many projects hide behind the veil of anonymity, Whiteman's open profile and the project's physical address in Amsterdam offer an extra layer of trustworthiness.Source / Meme KombatThe tokenomics of Meme Kombat is also an appealing factor for potential investors - Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena - this dual functionality – earning while gaming – sets Meme Kombat apart.Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.For those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss - so, don't be left behind (stay tuned with the MK Telegram).Embrace the future of meme-based gaming and betting with Meme Kombat.Buy Meme Kombat HereDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.Crypto Experts are Accumulating This New Bitcoin Project Before it Lists on Exchanges – Here's Why Last month, as reported by U.Today, Ripple also moved tens of millions of XRP to Bitstamp, and once, Whale Alert also detected a transaction made to the Bitso exchange. Overall, Ripple has transferred 119,000,000 XRP worth $59,199,878. About Virtual Currency, Cryptocurrency, and Digital AssetsThe Financial Conduct Authority (FCA) of the United Kingdom has placed restrictions on peer-to-peer lending platform Rebuildingsociety, the firm with which crypto exchange Binance partnered for compliance with the regulator’s marketing regime. In an Oct. 10 notice, the FCA said Rebuildingsociety was not authorized to “approve the content of any financial promotion for a Qualifying Cryptoasset for communication by an unauthorised person” and needed to withdraw any existing approvals. The notice suggested that Binance may no longer have a U.K. partner in compliance with the FCA’s marketing requirements, which went into effect on Oct. 8. The regulator warned Rebuildingsociety to notify any client — presumably including Binance — that it was “not permitted to approve the content of any Financial Promotion for a Qualifying Cryptoasset,” withdraw any ads offering to approve financial promotions and confirm its compliance to the FCA in writing. Binance aimed to use Rebuildingsociety to allow its U.K. users to view the exchange’s products and services through a localized domain, as the exchange is not registered with the FCA.Related: Binance tight-lipped on projects funded by $1B crypto recovery fundThe FCA’s restrictions came less than seven days after Binance’s announcement of a partnership with Rebuildingsociety, allowing the exchange to market spot trading, nonfungible tokens and other products and services to U.K. users. Under the FCA’s regime, the crypto exchange said it would no longer offer referral bonuses and gift cards.The marketing regime, which took effect on Oct. 8, was aimed at requiring firms, including crypto companies, to provide “clear, fair and not misleading” ads or risk criminal charges. The FCA added that certain companies could receive approval for a January 2024 deadline amid uncertainty surrounding the rules, but it’s unclear whether Binance planned to pursue this extension. Companies, including OKX and MoonPay, have already announced they plan to comply with the FCA rules. Magazine: Blockchain detectives: Mt. Gox collapse saw birth of Chainalysis Source: TradingViewDogecoin has remained largely flat in the past 24 hours, with its current price of $0.061189 representing a 1% drop in the past week.This means it remains below its 50-day exponential moving average (which stands at $0.0635), a sign that the meme token is struggling to regain momentum and is currently being oversold.This is confirmed by the fact that DOGE is also 4% down in the last 30 days and also 6% down in the past year, with the token struggling to find enough positive news to boost its price.But with some analysts expecting a market-wide rally towards the end of the year, and with DOGE also waiting hopefully on Twitter payments, the token could easily rise again in the near future.Dogecoin Price Prediction as DOGE Attempts to Climb Above 50-day EMA – Can Momentum Be Regained?DOGE's chart continues to look very unpromising at the moment, even if its oversold status would normally imply an incoming rebound.Source: TradingViewFor one, DOGE's relative strength index (purple) has been below 50 – or even 40 – for the last month and a half, and it currently remains close to 40, in a sign that buyers still don't seem interested in acquiring some on the cheap.Likewise, its 50-day EMA (yellow) continues to fall further below its 200-day average (blue), which in combination with the fact that current price is below both would imply a serious loss of momentum and support.Indeed, DOGE's support level (green) has inched downwards over the past month or so, meaning that it may not have actually finished dropping in the short- and medium-term.The coin could therefore sink below $0.060 in the next few days, and potentially drop even further unless the wider market becomes a little more positive and buoyant.The problem with DOGE at the moment is that it lacks any positive narrative, with no recent bullish news to note and no new developments.As such, the market is having a hard time trying to get excited about the coin, which seems to be relying almost solely on the possibility of integration with X (formerly Twitter) for any upwards movement.And while Elon Musk's love for DOGE means that Dogecoin payments on X can never be ruled out, it's likely that it would take a long time for such a thing to happen, if it ever does.For this reason, DOGE is likely to continue sliding for as long as the wider cryptocurrency market remains in a relative slump, which is currently being caused by rising bond yields (which makes stocks and more speculative assets less attractive).The meme token is likely to fall to $0.0550 or thereabouts before picking up again, with a return to more bullish conditions at the end of the year potentially lifting it back up to $0.070.New Meme Tokens With High PotentialTraders may prefer to leave DOGE aside for the time being and look at newer meme tokens with more potential for market-beating gains.Of course, it can be hard to pick which new meme coins are likely to be successful, yet one way of gauging this is to look at presales, with tokens that raise substantial amounts likely to have a larger following going forward.One new coin that fits this profile is Meme Kombat (MK), a new gaming platform that offers users the chance to earn rewards betting on AI-generated meme battles.The platform's presale has already raised over $325,000, which is impressive in that the sale has been open for only a couple of weeks.This suggests that investors are already being won over by Meme Kombat's primary feature, which is that it will use artificial intelligence to generate battles between meme characters, which users can place bets on.Users can do this by staking the platform's native token, MK, which will also be used to pay out rewards for successful bets.And given that Meme Kombat is based on the Ethereum blockchain, bets will be made using smart contracts, making payouts transparent and instant.Given just how popular meme coins have been in 2023, a platform which promises to stage meme battles is likely to attract plenty of interest, as hinted at by the presale's success in raising money.As a token, MK will have a hard cap of 12 million, with 50% of this supply going to the presale and another 30% going towards battle and staking rewards.This distribution should ensure a high level of community involvement with Meme Kombat, with investors able to join the presale by visiting its official website and connecting their wallets.1 MK will cost $1.667 for the entire sale, which will end once it raises $10 million, at which point the promising new token will list on exchanges.Visit Meme Kombat NowDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.XRP Price Prediction as XRP Seeks to Breach $0.55 Level – Is the Path to $1 by End of 2023 Clear?

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