Connect with us

Market

HMSTR, CATI on Binance Launchpool and More

Published

on


This week in the crypto sphere brings exciting updates: Binance Launchpool introduces HMSTR and CATI, Ripple’s RLUSD might be limited to institutional investors, and significant legal developments involving Ripple and the SEC.

Additionally, a notable debate among presidential candidates on crypto policies and updates from the gaming platform Snek.fun offer a broader perspective on the current market climate.

Binance Launchpool Welcomes HMSTR and CATI

Binance’s Launchpool platform welcomed Hamster Kombat (HMSTR) and Catizen (CATI), marking significant additions that offer users new staking opportunities. On September 12, Binance announced that Hamster Kombat would become the 58th project on its Launchpool. 

Hamster Kombat is a tap-to-earn game built on the Telegram mini-app platform. It provides a unique gaming experience in which players simulate crypto exchange CEOs in competitive battles. Hamster Kombat has a total token supply of 100,000,000,000 HMSTR, with 3% allocated for Launchpool token rewards. 

Read more: What Is Hamster Kombat?

Users can stake Binance Coin (BNB) and First Digital USD (FDUSD) to receive HMSTR airdrops over three days starting September 23, 2024, at 00:00 UTC. Binance plans to list HMSTR on September 26, 2024, at 12:00 UTC, opening trading with HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY pairs.

Following the HMSTR announcement, Binance revealed on September 13 that Catizen would be the 59th project on its Launchpool. Catizen is a cat-themed gaming bot built on the Telegram mini-app platform.

Since its inception six months ago, Catizen has attracted 34 million players and boasts over two million active on-chain users. The project reports an 800,000-paying user base and an average revenue per paying user of $33.

Catizen has a total and maximum token supply of 1,000,000,000 CATI, with 9% allocated for Launchpool token rewards. Users can stake BNB and FDUSD to receive CATI airdrops over four days starting September 16, 2024, at 00:00 UTC. Binance will list CATI on September 20, 2024, at 10:00 UTC, with trading pairs CATI/USDT, CATI/BNB, CATI/FDUSD, and CATI/TRY.

3 Much-Anticipated Upcoming Airdrops and TGE in TON Ecosystem

The Open Network (TON) has generated excitement with its airdrop initiatives. This September, TON is hosting several token generation events (TGE) and airdrops.

First, Catizen, one of TON’s key projects, is set to have its token, CATI, listed on major exchanges such as OKX, KuCoin, Bybit, and Gate.io starting September 20. Launched six months ago, Catizen has attracted 34 million players, with over two million active on-chain participants and 800,000 paying users, averaging $33 in revenue per paying user.

Next on the list is Hamster Kombat, another notable project that will hold its TGE and airdrop on September 26. Exchanges like Bitfinex, Bybit, and OKX will list the HMSTR token. However, the community has expressed concerns about the lack of clarity regarding airdrop criteria.

“The community is eager to participate, but the constant introduction of new games and features has caused confusion and overwhelm,” an X user said.

The CATS project also plans a TGE and airdrop this month, though the exact date remains unspecified. With more than 20 million users, CATS aims to reward Telegram users based on account age and activity level, with all Telegram users eligible to participate. A dedicated bot will assess user statistics to determine token allocation, and additional tokens can be earned through a referral system and minor tasks.

Ripple’s Chief Technology Officer, David Schwartz, confirmed on September 8 that the upcoming RLUSD stablecoin would likely be available exclusively to institutional investors. In a social media exchange, Schwartz responded to an XRP user who suggested that RLUSD should be limited to large financial institutions to prevent misuse in illegal activities such as money laundering. He compared RLUSD to existing stablecoins like USDC and USDT, noting that individual investors typically cannot purchase these stablecoins directly from their issuers. 

“Probably only ever be available directly to institutions. Can you get USDC from Circle or USDT from Tether, because I can’t.” Schwartz stated.

In a separate but related development, the US Securities and Exchange Commission (SEC) dropped its claims against Ripple executives Brad Garlinghouse and Chris Larsen. This action has sparked rumors of an appeal, especially since Ripple proposed to deposit 111% of the financial judgment into a bank account, presumably to ensure a pause in the case.

A former SEC regional director, Marc Fagel, provided insights into the potential appeal. He emphasized Ripple’s systematic sales rather than debating XRP’s classification as a security.

“If [the SEC chooses to] appeal, it will likely be over whether the programmatic sales constituted securities sales,” Fagel explained.

Furthermore, he clarified that the Court of Appeals could address this issue without deciding whether XRP is a security, as it remains a peripheral matter. Legal expert Bill Morgan also commented on the case, assuring XRP holders that the core judgment—that XRP is not a security—should stand firm despite potential legal maneuvering.

Cardano’s Network Activity Surges with Meme Coin Launchpad Snek.fun

Charles Hoskinson, the founder of Cardano, praised Snek.fun, a meme coin launchpad, for significantly increasing the network’s activity. On September 6, Snek.fun announced a record daily transaction volume for Cardano. This marked the highest 24-hour decentralized exchange (DEX) trading activity in the blockchain’s history.

Launched on September 5, Snek.fun is a meme coin launchpad created by SNEK and Splash, a DEX on Cardano. The platform allows users to create tokens for a fee of 25 ADA.

Once 75% of a token’s supply is purchased, and the market cap reaches 42,069 ADA, a bonding curve is triggered, adding 25% of the supply to a liquidity pool on Splash DEX. Liquidity provider (LP) tokens are then burned to prevent the team from withdrawing liquidity.

Snek.fun initially faced challenges due to high user demand and network congestion. However, it was able to optimize its platform quickly. Within the first 24 hours, over 2,000 tokens were created, and trading volume exceeded 5 million ADA.

Regardless of the achievement, some analysts express concerns about the platform’s long-term viability. They stress the need for additional features, such as creator royalties and messaging systems, to ensure sustained success.

Presidential Debate Omits Crypto Discussion, Impacting PolitiFi Coins

This week also witnessed the first presidential debate between Vice President Kamala Harris and former President Donald Trump. Despite the mounting anticipation, the debate apparently ended without any mention of cryptocurrencies, leaving many crypto enthusiasts disappointed. Instead, the debate focused on topics such as the economy, immigration, and foreign policy. 

However, the absence of discussions on crypto had immediate repercussions on the market. Following the debate, the crypto market reacted sharply, particularly affecting meme coins associated with politics—known as PolitiFi. 

BeInCrypto reported that the total market capitalization of PolitiFi meme coins fell by 8.7% post-debate. Moreover, some Trump-linked meme coins suffered significant declines. For instance, MAGA (TRUMP) dropped by 10%, while MAGA Hat (MAGA) plummeted by 22.5%.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

PolitiFi Meme Coins Market Capitalization
PolitiFi Meme Coins Market Capitalization Post-Debate. Source: CoinGecko

Conversely, the Kamala Horris (KAMA), a meme coin related to Kamala Harris, surged by 7.3%.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Market

Ethereum whales get active as ETH retraces gains, buying the dip and this presale token under $0.08

Published

on

By


Large holders in the Ethereum (ETH) community, Whales, are silently acquiring ETH while it gives back its recent gains. Amid this, a fresh presale token valued at less than $0.08, Rexas Finance (RXS), is drawing interest from investors. Targeting the huge real-world asset market, Rexas Finance is creating waves with special characteristics.

Rexas Finance: Targeting the Real-World Asset Market

Rexas Finance is targeting a relatively untapped market in cryptocurrency: real-world asset (RWA) tokenization. Using the blockchain, this creative platform lets users invest in commodities, gold, and real estate, among other things. With just one click, investors can own a fraction of a high-value asset, such as a piece of real estate, anywhere in the world.

The Rexas Finance presale is gathering pace right now. Over 72 hours, it raised around $450,000 during its first stage. This success suggests growing investor faith in its goal. Now in its second phase, the presale has already gathered over $811,208 with the RXS token valued at $0.04, which many analysts are arguing could prove to be a steal.

Rexas Finance offers its customers several features. By locking down their RXS tokens, investors can generate passive income using staking and yield farming. The Launchpad on the platform provides funds for creative ideas, therefore enabling startups to gain traction. 

The Rexas QuickMint Bot also simplifies token creation by letting users mint fresh tokens straight via Discord and Telegram messaging systems. This opens token development to a larger audience, therefore promoting diversity in the crypto scene.

The Rexas ecosystem transcends tokenization. Its AI Shield guarantees better security for smart contracts, ensuring the dependability and safety of transactions. Using several blockchain networks, the platform also incorporates a Multi-Chain Yield Optimizer through Rexas Treasury, therefore maximizing profits for investors. 

Rexas Finance aims to close the gap between the blockchain world and tangible assets by using developing technologies such as blockchain, artificial intelligence, and DeFi. Given that a number of experts estimate a 7,800% increase in the next bull run, Rexas Finance could prove itself to be a good option for both novice and seasoned crypto investors.

Whales Are Accumulating ETH Amid Market Shifts

The largest holders of Ethereum, sometimes referred to as whales, have been progressively adding more ETH, particularly during dips. Data from on-chain monitoring firm IntoTheBlock indicates that these whales currently hold around 43% of Ethereum’s active supply. Their accumulation has been continuous since 2019; it quickened in early 2023, particularly following Ethereum’s Shanghai upgrade, which allowed the staked Ether to be withdrawn.

The current whale activity points to calculated market movement. Whales are buying the dip as Ethereum pulls back some of its past increases this year. With a 1.4% rise against Bitcoin’s 33.6% rise in 2024, Ethereum has notably lagged behind. Still, the steady whale accumulation points to long-term Ethereum potential optimism.

Cryptocurrency analyst Benjamin Cowen noted that Ethereum’s monthly candles have been reflecting its 2016 performance. Should this trend persist, Ethereum may climb by 2025. Still, it’s important to keep in mind that the crypto market is volatile, and past performance might not ensure present outcomes.

The RXS Token Presale 

Rexas Finance’s token distribution is meant to help the community and propel the expansion of the ecology. There are one billion RXS coins. 42.5% of these tokens are made available in the presale, giving early adopters lots of possibilities. Staking rewards, liquidity, marketing, and team incentives account for the rest, thereby maintaining a sustainable and balanced environment.

How to Participate in the Rexas Finance Presale

  1. Go to the official Rexas Finance website to get comprehensive knowledge regarding the presale and token.
  2. Click the “Join Presale” or comparable button to link your crypto wallet—such as MetaMask or Trust Wallet—to the platform.
  3. Choose the investment amount you wish to make. In Stage 2, the price of each RXS token is $0.04.
  4. Check the specifics and verify the transaction in your wallet. Then, make sure you have enough ETH or another supported Bitcoin for the gas expenses.
  5. Your RXS Tokens will be delivered to your wallet once the transaction is verified.

Participating in the Rexas Finance presale helps you join a creative platform with great future expansion potential. Are you all set to engage in the Rexas Finance ecosystem?

Conclusion 

As the market fluctuates, Ethereum whales are deliberately gathering to show their belief in ETH’s long-term viability. Rexas Finance, meanwhile, gains momentum in its presale phases by providing a unique investment opportunity through real-world asset tokenization. Joining early offers investors the opportunity to access the current low prices, and holds out the possibility of huge returns for early investors after the RXS token is launched.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance



Source link

Continue Reading

Market

Can Binance Coin (BNB) Price Break $600

Published

on

By


Binance Coin (BNB) holders have waited several months for the altcoin to reclaim the $600 price mark. The increased demand it currently enjoys suggests that this milestone could be achieved sooner rather than later.

However, sentiment among its futures traders has turned bearish as they begin to bet against a sustained price rally. 

Binance Coin Sees Higher Demand for Short Positions

Binance Coin’s price has risen by 3% in the past 24 hours, reflecting the broader market upswing following the US Federal Reserve’s first interest rate cut since March 2020.

Demand for BNB has surged since the beginning of the month, with its price now at $557.11, marking a 14% increase over the last 13 days. However, futures traders remain skeptical about the rally’s longevity, as many continue to favor short positions.

According to Santiment, BNB’s funding rate — used to keep futures contracts aligned with the spot price — has been negative for the past three days, currently sitting at -0.001%.

Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know

bnb funding rate
BNB Funding Rate. Source: Santiment

A negative funding rate indicates short-term pessimism, with more traders betting on a price decline than on a rally. However, BNB’s price has risen in the face of these bearish bets, leading to the liquidation of many short positions.

Short liquidations occur when traders betting on a price drop are forced to buy back the asset at a higher price to cover their losses, as the price moves against their expectations. When BNB’s price surged beyond a certain level, traders with short positions were compelled to exit to minimize losses.

Since September 16, BNB short liquidations have totaled $1.3 million, according to Coinglass.

bnb total liquidations
BNB Total Liquidations. Source: Coinglass

BNB Price Prediction: Altcoin Is Poised for More

BNB’s moving average convergence/divergence (MACD) indicator suggests the potential for continued upward momentum. The MACD line (blue) currently sits above both the signal line (orange) and the zero line, indicating strong bullish sentiment and the likelihood of a sustained uptrend.

If buying pressure continues, BNB could rally toward the $592.30 resistance level. A break above this level would set the coin on track to target $637.80.

Read more: Binance Coin (BNB) Price Prediction 2024/2025/2030

bnb price prediction
BNB Price Analysis. Source: TradingView

However, if profit-taking begins, the bullish outlook could be reversed, with BNB’s price possibly dropping to find support at $466.60

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

This Is How Whale Activity Can Cause XRP to Rally 30%

Published

on

By


XRP price has been trading within an ascending triangle pattern, a technical setup that suggests a significant breakout is on the horizon. This pattern could send the altcoin’s price up by as much as 28.9%. 

Key market players, known as whales, have been fueling this potential surge by accumulating large amounts of XRP, signaling confidence in an upward price movement.

XRP Whales Contribute Considerably

Whale activity has surged in recent days, with large holders significantly increasing their positions. Specifically, addresses holding between 10 million and 100 million XRP tokens have collectively purchased 200 million XRP, valued at over $116 million. This accumulation points to a rising belief in the asset’s bullish potential.

The increased whale activity is an indicator of market confidence, as such holders typically buy when they anticipate a price rally. Their recent purchases suggest that the coming weeks could see XRP break out of its current pattern, giving momentum to the cryptocurrency and offering investors notable gains.

Read more: XRP ETF Explained: What It Is and How It Works

XRP Whale Holdings.
XRP Whale Holdings. Source: Santiment

Analyzing XRP’s macro momentum, the MVRV (Market Value to Realized Value) Long/Short Difference reveals an interesting shift. This metric helps gauge investor profit-taking conditions.

Negative values often mean that short-term holders are profiting, while positive values indicate long-term investors are in the green. The latter is the case with XRP.

However, at present, the profits for long-term holders are not substantial. As a result, these investors are unlikely to sell soon, waiting instead for larger returns. This holding pattern supports the potential for a bullish breakout in the near future.

XRP Long/Short Difference.
XRP Long/Short Difference. Source: Santiment

XRP Price Prediction: Profits Ahead

XRP is moving within an ascending triangle, a bullish formation that forecasts a 28.9% rise upon a successful breakout. If this occurs, XRP’s price could surge to $0.76, offering strong returns for investors.

For the breakout to materialize, XRP must first surpass the resistance at $0.64 and establish it as a new support level. While whale activity suggests this is achievable, maintaining momentum above this threshold remains a challenge.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

XRP Price Analysis.
XRP Price Analysis. Source: TradingView

Should XRP fail to breach the $0.64 barrier, it may continue consolidating between $0.56 and $0.64, delaying a price rally and dampening investor expectations.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io