Altcoin
Binance Adds New Trading Pairs for Notcoin and Dogwifhat
Binance has expanded its trading options by introducing new trading pairs for Notcoin (NOT) and Dogwifhat (WIF). From tomorrow, Notcoin will be traded for the Brazil Real (BRL) and Dogwifhat for the Euro (EUR).
Binance Adds Notcoin and Dogwifhat Trading Pairs
Binance is still adding new trading pairs and now offers Notcoin and Dogwifhat for trading. Notcoin started its journey as a Telegram game on the TON blockchain and became widely popular due to the tap-to-earn mining system. Initially met with skepticism, it has since expanded, reaching $1.8 billion in market capitalization and $1 billion in trading volume.
Another meme coin that has also performed well is Dogwifhat, a Solana-based token depicting a Shiba Inu dog wearing a hat. Dogwifhat was launched in November 2023, and within no time, its price went from almost zero to $4.88. The token now has a market capitalization of $2.76 billion and a trading volume of $500 million. These new pairs, available for trading in BRL and EUR, show the importance of the tokens in the market as they bring liquidity and convenience for traders.
By listing popular tokens like Notcoin and Dogwifhat, Binance wants to attract more trading volume and generate more revenues through trading fees. These pairs are evidence of Binance’s efforts to diversify its platform and enhance its clients’ trading experience.
Besides the new trading pairs, Binance will also offer trading bot services for Notcoin and Dogwifhat. These bots will also help improve the trading experience by providing automated trading options to users so they can manage their trades. Nevertheless, traders from several countries, such as the United States, Canada, and the Netherlands, cannot trade these pairs because of regional restrictions.
Users need to verify their accounts to trade these new pairs. This measure enhances compliance with legal frameworks and the safety of trading activities on the platform. Through these measures, Binance seeks to ensure that its trading platform is secure and complies with the law.
Dogwifhat Price Surges by 11%
Following the announcement, the market has reacted positively to the news. The price of WIF increased by 11% and is currently trading at $2.75. Despite this price increase, the trading volume for WIF has decreased by 6.09%, indicating a potential bearish trend in the market. Traders have established a support level at $2.42 and a resistance level at $2.90, highlighting the volatility in the WIF market.
Similarly, NOT has seen a price increase of over 20%, currently trading at $0.01858. The highs and lows for Notcoin are $0.015 and $0.01905, respectively. These price movements reflect the market’s response to Binance’s announcement and the growing interest in these tokens.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Charles Hoskinson, a prominent figure in the blockchain industry and founder of Cardano (ADA), has expressed concerns about the current U.S. administration’s approach to cryptocurrency. He argues that the upcoming elections present a critical opportunity for the cryptocurrency community to use their votes strategically to steer policy.
Charles Hoskinson Blasts Biden’s Crypto Regulatory Approach
Charles Hoskinson has been outspoken about the detrimental effects of President Joe Biden‘s policies on the cryptocurrency sector. He highlights the administration’s support for the Securities and Exchange Commission’s (SEC) aggressive regulatory tactics, which he terms “regulation by enforcement.” Charles Hoskinson says this approach has stifled innovation and contributed to significant job losses within the burgeoning trillion-dollar industry.
Charles Hoskinson advises that US voters must vote wisely if they want a better future. The blockchain debate has spilled over into politics.#Cardano $ADA pic.twitter.com/L17dtazfXZ
— Cardanians (CRDN) (@Cardanians_io) July 1, 2024
Moreover, he is critical of the lack of a Democratic primary, suggesting it could have exposed what he perceives as Biden’s declining competence. Hoskinson’s critique extends to a broader disappointment with the media’s portrayal of the situation, which he feels fails to hold the administration accountable for these perceived missteps.
Read also: What Does the US Marshals Service Gain from Partnering with Coinbase
Crypto Leaders Seek More Favorable Regulations
Other key players in the blockchain arena, including Messari CEO Ryan Selkis and the Winklevoss twins, support Hoskinson’s viewpoint and are dissatisfied with the current regulatory environment. Similarly, CEOs from major companies like Coinbase and Ripple (XRP) have transformed the crypto lobby into a significant political force, illustrating the industry’s growing readiness to influence policy directly.
Additionally, Anthony Scaramucci, a well-known figure in the investment and crypto sectors, offered only a tepid endorsement of Biden, preferring this to the unpredictability of former President Trump’s administration. These leaders and Hoskinson are pushing for more favorable regulatory conditions for the cryptocurrency industry to thrive.
Crypto Policies Key in Upcoming Elections
In response to these ongoing challenges, Charles Hoskinson urges the crypto community to become single-issue voters focusing on cryptocurrency policy in the upcoming elections. This strategy aims to shift the political landscape to support the technological and economic advancements that blockchain technology can offer better.
Earlier criticisms from Charles Hoskinson include a strong rebuke of a memo circulated among Democrat Committee members, poised to influence a significant hearing on digital asset regulation. This instance, among others, fuels his campaign to encourage critical consideration of crypto policies among U.S. voters.
Also Read: Hashdex Combined Bitcoin and Ethereum ETF Acknowledged By US SEC
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana (SOL) has gained traction as crypto assets start the week with slight gains. A look at the market shows crypto prices attempt a breakout after previous losses. At press time, the total market cap grew to $2.31 trillion, a 2.33% increase in the last 24 hours sparking a wider bullish projection.
Assets like Solana outpaced the market in the last attempted rebound as price fluctuations continued. Today, SOL price maintains a lead in weekly gains among the top 10 assets rallying on the heels of previous inflows after two ETF applications. While bulls eye the $150 mark, bears opine that poor sentiments and volatility might make the mark unsustainable.
Solana To Climb?
Solana’s price has moved above other assets in the top 10 cryptos by market cap except for Cardano (ADA). SOL trades at $148.15, a 3.78% increase in the last 24 hours behind only ADA with a 5% rebound. The asset’s growth takes its market cap above $68.5 billion while daily trading volumes jumped a massive 45.8% to $1.89 billion.
The weekly growth of Solana points to a renewed upswing as it notched over 16% gains while monthly figures are still in the red zone. Based on recent on-chain data, market analysts have projected an upward trajectory for the asset.
At the moment, SOL is behind previously hit resistance levels after taking a tumble with the wider market. As a result, a reduced uptick was recorded in Solana meme coins and decentralized finance numbers, bearish traders argue.
Bulls Look To Spot ETF
The recent filing of spot Solana ETFs remains a major driving factor for the asset’s price. This year, ETFs have rallied the crypto market following huge institutional investments in the sector. Spot Bitcoin ETF approval in January changed the dynamics after the asset soared to an all-time high above $73,000. Ethereum products are also expected this summer which also ignited bullish activity. Solana holders point to institutional inflows as a pathway to sustained growth.
Also Read: Dogecoin Price To Attempt $2 With Memecoin Supercycle Says Analyst
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Coinbase Prime has landed a $32.5 million contract with the U.S. Marshals Service (USMS). The partnership mandates Coinbase Prime to custody and manage large-cap digital assets. This collaboration marks a critical step in utilizing blockchain technology for government asset management and reflects a strengthening trust in digital currencies’ viability and security.
Coinbase Prime Secures Major Government Contract
Coinbase Prime will offer advanced trading services and custody solutions, managing the considerable volume of digital assets seized under the US government’s forfeiture programs. The selection of Coinbase for this role followed a thorough competitive evaluation, showcasing its capability to operate securely on a large scale. The agency has emphasized the need for professional, lawful management and disposal of cryptocurrency assets, which must align with the stringent policies of the Department of Justice and USMS.
Moreover, the contract aims to enhance the efficiency of the processes involved in handling digital assets. By consolidating custody and management operations, the USMS intends to improve the administration and liquidation of these assets. The arrangement also supports the diversification of cryptocurrency types that the government can manage and dispose of, broadening the scope of its digital asset capabilities.
Also Read: Circle Bags MiCA’s E-Money License For USDC and EURC
Coinbase Sues U.S. Agencies Amid Challenges
The agreement with the USMS comes when Coinbase has faced significant scrutiny and legal challenges from U.S. regulators, including the Securities and Exchange Commission (SEC). Last year, the SEC filed a lawsuit against Coinbase for operating without proper registration, a case still progressing through the judicial system. Despite these hurdles, Coinbase continues to assert its presence in the digital asset space, recently suing several federal agencies over alleged discriminatory practices against the cryptocurrency sector.
Despite these controversies, Coinbase Prime has demonstrated robust performance in institutional trading. As of the first quarter of 2024, the platform safeguarded assets worth approximately $330 billion and recorded significant institutional trading volume. This ongoing success and the new partnership with the USMS underline growing institutional confidence in Coinbase’s capabilities and cryptocurrency’s legitimacy as a substantial asset class.
Also Read: Metaplanet Boosts Bitcoin Strategy With 10:1 Share Consolidation Amid Key Changes
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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