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Binance Alpha Listing and CZ Spark 200% Rally In MUBARAK Coin

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MUBARAK coin has seen a dramatic surge in price, with its market capitalization skyrocketing to $200 million in just 48 hours. 

This unexpected rally is largely attributed to two major players in the cryptocurrency industry: Binance and its former CEO, Changpeng Zhao (CZ). Their involvement has significantly impacted MUBARAK’s growth, drawing both media attention and investor interest.

MUBARAK Finds Sudden Support

The recent price surge of MUBARAK can be traced back to Binance founder CZ’s influence. As reported by Lookonchain, CZ exchanged 1 BNB for 20,150 MUBARAK, valued at $600 at the time. This event, combined with the token’s listing on Binance Alpha, ignited an exceptional rally.

Binance Alpha’s listing is crucial, as coins that make it to this platform are often more likely to be listed on Binance’s main exchange, a major driver of interest for traders.

CZ's MUBARAK Transaction.
CZ’s MUBARAK Transaction. Source: Lookonchain

While CZ’s involvement in MUBARAK sparked considerable hype, he made sure to deflect the attention away from himself by clarifying the situation in a tweet.

“People give me too much credit. I didn’t have any magic for any of the wonderful things happening. It’s builders building for years. I know only a handful of words in Arabic, but I am happy that I may have “inspired” millions of people to learn a few words, too,” tweeted CZ.

Nonetheless, his interaction with the meme coin caught the eye of many investors, and the token’s price surged as a result. This combination of Binance Alpha’s endorsement and CZ’s engagement led to a massive rally.

Since its launch, MUBARAK has consistently experienced bullish momentum, as indicated by the Relative Strength Index (RSI). Currently, the coin is in the overbought zone, a typical scenario for assets that are experiencing hype-driven price increases. 

However, this strong upward trend is likely to continue for a while. Such momentum is crucial for newly launched tokens to gain market traction. The continued bullish behavior from investors reflects optimism, but this will need to be sustained by further market action and backing to avoid a rapid decline.

MUBARAK RSI
MUBARAK RSI. Source: TradingView

MUBARAK Price Shoots Up 200%

MUBARAK’s price has risen nearly 200% in the past 48 hours, reaching $0.206. It also achieved an all-time high (ATH) of $0.221, but this peak may not hold for long. With the current market enthusiasm, the ATH is likely to be breached soon as the altcoin pushes for higher levels.

Given that MUBARAK’s rally is largely driven by hype, it’s difficult to predict its future trajectory with certainty. However, traders are optimistic and may expect the token to reach as high as $0.500. This level could take some time to hit, but it represents the target for many investors.

MUBARAK Price Analysis.
MUBARAK Price Analysis. Source: TradingView

That said, if the bullish momentum fades and investors begin to realize the meme coin lacks fundamental value, MUBARAK’s price could sharply decline. In such a scenario, it could fall back to $0.149 or lower, possibly reaching $0.108. This would invalidate the current bullish outlook, causing a significant drop in price and investor confidence.

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.



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Burwick Files Lawsuit Against Meteora and Other LIBRA Backers

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New York-based legal firm Burwick Law filed a class action lawsuit against the main parties involved in LIBRA, the Argentinian meme coin scandal. The lawsuit specifically targets KIP, Meteora, and Kelsier, but not President Javier Milei.

Over the past few months, the firm has filed several lawsuits against meme coin projects. It alleges serious financial misconduct from all these parties.

A LIBRA Lawsuit in New York

Given the firm’s recent actions, Burwick Law seems to be in a legal war against meme coin scammers. In December, it filed a suit against Hawk Tuah’s promoters. A month later, it sued Pump.fun, accusing the platform of IP violations.

Yesterday, Burwick filed another class-action lawsuit, this time centered around the LIBRA meme coin.

“Tonight, our firm filed a class action complaint in the Supreme Court of New York on behalf of our client. We allege that Kelsier, KIP, Meteora, and related parties orchestrated an unfair token launch (LIBRA), allegedly misleading purchasers and harming retail investors,” the firm claimed via social media.

The LIBRA launch in February turned into a massive fiasco, and this lawsuit joins active investigations and arrest warrants levied upon the principal actors.

Essentially, Burwick accuses several parties involved with LIBRA of “deceptive, manipulative, and fundamentally unfair” conduct. These people artificially inflated the token’s price and then caused a collapse—otherwise known as pump-and-dump.

Surprisingly, the suit does not name Argentine President Javier Milei as a defendant. In addition to being a significant political figure, Milei also downplayed his direct connections to the debacle.

Instead of targeting him, Burwick’s lawsuit is going after the private companies that directly facilitated the LIBRA launch: KIT, Meteora, and Kelsier.

“The complaint details how, according to our allegations, one-sided liquidity pools were used to artificially inflate LIBRA’s price. We further allege that approximately 85% of supply was withheld at launch, enabling insiders to profit while everyday buyers bore the losses,” Burwick Law stated.

Who Were the Culprits Behind the LIBRA Scandal?

The initial name behind the LIBRA meme coin launch was KIP Protocol, a Web3 AI base layer. However, the firm completely distanced itself from any rug pull allegations.

KIP claimed that it did not launch or profit from LIBRA and that it was only asked “to assist in managing the project’s financing initiative.” The other firms, however, have much clearer connections.

Meteora, a decentralized crypto exchange, was thoroughly involved in LIBRA. The company’s co-founder resigned in the immediate aftermath but maintained his innocence.

Notably, Meteora’s reputation was already damaged by the TRUMP meme coin. This small exchange was the first platform to host the token, which increased its TVL by over 300% in days to over $1.9 billion.

Kelsier Ventures, LIBRA’s market maker, seems especially vulnerable to lawsuits. In a shocking interview, CEO Hayden Davis defended his actions, admitting to past scams and claiming he did nothing out of the ordinary.

Davis was in talks to launch a similar meme coin with the Nigerian government and was recently tied to a Wolf of Wall Street-themed meme coin. It’s no wonder that Davis, of all the names involved with the whole scandal, is the only person with an active arrest warrant against him.

Additionally, data engineer Fernando Molina alleged that these parties tried to launch two other Argentina-centric tokens before LIBRA. A few telltale fingerprints connect it with ARG and MILEI, such as shared wallets, liquidity pools, and timing. Molina suggested that LIBRA’s creators could’ve created these assets as test coins, but isn’t certain.

Assets Possibly Launched By LIBRA Team
Assets Possibly Launched By LIBRA Team. Source: Fernando Molina

There are quite a few unanswered questions about the whole LIBRA scandal, and it’s unclear how they’ll play into the lawsuit. Hopefully, investigations can help clear up some of the biggest mysteries.

After all, political meme coin schemes like this can damage the reputation of the whole industry. So, the current lawsuit from Burwick might be in everyone’s best interest.

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.



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3 Crypto Smart Money Wallets Are Dumping Fast This March

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Smart Money wallets have been aggressively offloading TRUMP, BNKR, and PWEASE in the last seven days, raising red flags for these trending tokens. TRUMP has faced the heaviest pressure, with over $380,000 in net outflows, as its price remains stuck in a sharp downtrend.

BNKR, despite posting strong weekly gains, has also seen large traders liquidating their positions, signaling potential profit-taking. Meanwhile, PWEASE is experiencing similar bearish flows as larger wallets continue to trim exposure despite the recent buzz around the meme coin.

TRUMP

TRUMP has been under significant selling pressure, trading below $18 for the past 30 days, with its price declining by nearly 43% over that period.

This steep correction has coincided with notable smart money activity, as key wallets have been heavily exiting their positions. In the last seven days alone, smart money wallets sold $382,660 worth of TRUMP while only buying $1,240, resulting in a sharp net outflow of $381,420.

This imbalance suggests that larger, more informed investors are losing confidence in TRUMP’s short-term prospects, contributing to the downward momentum.

TRUMP Price Analysis.
TRUMP Price Analysis. Source: TradingView.

If this corrective trend persists, TRUMP could fall further and retest its next key support level, $9.54. Failure to hold this level may expose the asset to deeper losses.

However, if TRUMP manages to reverse its current bearish trend and regain bullish momentum, it could attempt to challenge resistance at $12.51.

A successful breakout above this level may open the door for a move towards $13.88. If buying pressure strengthens further, TRUMP could rally back up to $17.75, reclaiming levels closer to where it was trading before the recent downturn.

BankrCoin (BNKR)

BNKR has surged by 19% over the past week, positioning itself as one of the top-performing AI coins and one of the most talked-about assets on the Base chain.

This recent rally has drawn significant attention, helping BNKR stand out in a competitive market. However, despite the price increase, smart money wallets have shown mixed behavior—while they purchased $75,700 worth of BNKR in the last seven days, they also offloaded $213,730, resulting in a net outflow of $138,000.

This suggests that although BNKR is trending, larger investors may be capitalizing on the recent rally to secure profits.

BNKR Price Analysis.
BNKR Price Analysis. Source: TradingView.

If this selling pressure persists, BNKR could lose its recent momentum and slip below key support levels at $0.00019 or even $0.00018, marking its lowest levels since mid-February.

On the other hand, if BNKR manages to reignite the bullish sentiment that fueled last week’s gains, it could retest resistance at $0.000225.

A breakout above this level could pave the way for a further move toward $0.000282, signaling a strong continuation of its upward trend.

PWEASE

PWEASE, a Solana meme coin satirizing US Vice President JD Vance, has been drawing attention amid volatile market conditions.

Over the past seven days, smart money wallets have shown a bearish stance. They purchased $166,720 worth of PWEASE but sold $291,000 in the same period, resulting in a net outflow of $124,320.

This suggests that while the token has gained some traction, larger investors are currently leaning towards reducing their exposure, adding selling pressure to the coin.

PWEASE Price Analysis.
PWEASE Price Analysis. Source: TradingView.

If this corrective trend continues, PWEASE could move lower and test the key support at $0.0125. If that level fails to hold, a deeper decline toward $0.0059 may follow.

However, should PWEASE manage to attract renewed buying interest and reverse the downtrend, it could push up to challenge resistance at $0.0295.

A breakout above this level could open the door for further upside toward $0.040, signaling a potential shift back to bullish momentum for the meme coin.

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.



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Bitcoin ETF Issuers Purchase Over $40 Million in BTC

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As the Bitcoin ETF market is seeing inflows again, the issuers are purchasing BTC in huge volumes. Fidelity and ARK Invest, two of the leading issuers, acquired more than $40 million in Bitcoin since yesterday.

Rumors also suggested that BlackRock, the largest ETF issuer, made similar purchases, yet these remain unverified. Overall, the fresh acquisitions from asset managers could contribute to a much-needed bullish narrative for the market.

Will Bitcoin ETFs Influence a New Bullish Cycle?

After weeks of consistent ETF outflows, the market is starting to pick up again. On Monday, US spot Bitcoin ETFs saw $274 million in net inflow—the largest daily inflow since February 28.

Meanwhile, blockchain analytics platform Arkham claimed that BlackRock is also making large BTC purchases.

“ARKHAM ALERT: BlackRock is buying $40 Million BTC. BlackRock is buying. Fidelity is buying. Ark is buying,” the firm stated via social media.

However, despite these claims, the on-chain data does not match up. Fidelity and ARK Investments both acquired large amounts of BTC today, posting inflow transactions of $41.16 million.

Both ETF issuers had other Bitcoin inflows, but BlackRock’s on-chain data actually shows a net decrease in BTC holdings.

fidelity bitcoin etf
Fidelity Purchasing More Bitcoin. Source: Arkham

These other leading ETF issuers have indeed been purchasing Bitcoin, as independent verification can clearly show. ETF analyst Shaun Edmondson claimed that they bought 665 BTC last Friday and 3,261 BTC on Monday.

Bitcoin’s price has been highly volatile, which might be adding to confusion regarding the ETF market. Last week, the issuer’s collective holdings fell below Satoshi’s wallet, a milestone they passed three months ago.

However, it looks like institutional investors are regaining the confidence to enter the market, as most Bitcoin ETFs have turned green this week.

BTC ETF One-Day Inflows
BTC ETF One-Day Inflows. Source: SoSo Value

Overall, institutional investors have been a key influence on Bitcoin’s market movement for the past year. If net inflow remains positive in the ETF market, it could help create a much-needed bullish narrative in the face of today’s bearish sentiment.

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.



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