Altcoin
Bitcoin Analyst Who Predicted Market Crash Says This Altcoin Will See A 20,000x Hike In 2 Months
As Bitcoin (BTC) teeters between a bull run or a market crash, investors are staying alert and diversifying their portfolios. This heightened caution has fueled fresh discussions in the altcoin market, particularly following a bold prediction from a Bitcoin analyst who accurately predicted a market crash in the past. With a lofty 20,000x target now set for a new altcoin, ETFSwap (ETFS), many are investing heavily in the hopes of realizing gains from the projected price surge.
ETFSwap (ETFS) Attracts Highly Positive Predictions Due to Its Spectacular DeFi Potential
ETFSwap (ETFS) has emerged as one of the most promising crypto presales of 2024, already predicted to deliver over 20,000x profits, according to a Bitcoin analyst who predicted the previous Bitcoin (BTC) market crash. The newly-launched presale will offer the ETFS altcoin, which provides access to ETFSwap’s diverse portfolio of tokenized Exchange Traded Fund (ETF). Through ETFSwap (ETFS), users will be able to purchase, and trade tokenized ETF assets at all times.
Having been audited by CyberScope, a prominent blockchain audit firm, ETFSwap (ETFS) displays its commitment to delivering top-notch security and efficiency. The team behind the innovative platform has also completed a KYC verification process with SolidProof, improving users’ confidence in its security.
Investors of ETFSwap’s native token, ETFS, are in for more benefits as the token grants users privilege to trade the ETF with lower fees and discounted prices. Additionally, token holders receive monthly airdrops, 36% passive income from its staking pool, early access to newly-listed ETFs, an exclusive right to vote on the platform’s governance, as well as a whopping 87% APR yield from staking ETFS token.
As of this moment, ETFSwap (ETFS) is pulling in fresh attention as news of its beta platform launch makes headlines. This beta platform, which has undergone back-end testing and series of UI tests, is set to gain more traction following its debut. Phase 1 of the beta platform will allow users to explore ETFSwap’s staking mechanisms, liquidity pools, ETF prices and swapping features. On the other hand, Phase 2 will offer users access to ETFSwap’s AI trading tools like ETF screeners, trackers and filters.
Bitcoin Analyst Sees A 20,000X Growth For ETFSwap’s Altcoin, ETFS
After predicting the last market crash where Bitcoin (BTC) experienced a massive price drop, this Bitcoin analyst has dropped another prediction for ETFSwap’s native altcoin, ETFS.
According to the Bitcoin analyst, the new ETFS altcoin could experience a 20,000x growth in just two months, setting it up for the upcoming bull market. While this represents 900% growth, investors are forced to consider the possibility of this prediction coming true due to the Bitcoin analyst’s accurate forecast of the 2022 Bitcoin (BTC) market crash.
With the forecast of the Bitcoin (BTC) market crash in mind, investors are taking advantage of the ETFS altcoin’s lower price during its ongoing presale. The price of the altcoin is trading as low as $0.03846. As a result, the Bitcoin analyst urges investors to join the ETFS presale before its final stage ends. Bolstered by his accurate market crash forecast, the Bitcoin analyst has expressed confidence that in two months, the ETFS altcoin will realize as much gain as Bitcoin (BTC) did during the 2020 bull market.
Wrapping Up
With over $4.3 million raised during its presale, ETFSwap (ETFS) has attracted a massive number of investors eager to capitalize on its potential, ranking as a top altcoin choice amidst Bitcoin (BTC) price volatility. The presale has sold over 600 million of ETFS tokens, and has already granted early investors a potential ROI of up to 350%. With the final presale stage here, investors are encouraged to secure their positions in this altcoin before its next 20,000X boost.
For more information about the ETFS Presale:
Dogecoin whales are on a buying spree, despite the DOGE noting a retreat today, sparking speculations in the market. A top crypto market expert highlights that the DOGE whales have accumulated over $55 million of the top meme coins in the last 24 hours, indicating the growing confidence of the investors. Having said that, many in the digital assets space, especially the meme coin sector, anticipate a breakout ahead for the crypto.
Dogecoin Whales Bags Millions Sparking Optimism
The top meme coins have noted a strong rally over the past few days amid a positive sentiment hovering in the broader crypto market. Amid this, Dogecoin whales have accumulated millions of tokens, showcasing their increasing confidence in the market.
According to a recent X post by the prominent crypto market expert, Ali Martinez, the DOGE whales have bagged 140 million coins from yesterday only. The transfers, valued at around $56 million, have sparked discussions in the market over further rally in the meme coin’s price.
Besides, another report from Lookonchain showed that a Dogecoin whale has dumped all his SPX holdings to add DOGE to his holdings this week. According to the report, the whale has dumped 10.6 million SPX for $6.2 million, making a profit of around $920K. Following that, he has spent $6.2 million to buy 13.95 million Dogecoin, valued at around $4.88 million currently.
This massive accumulation has resulted him a loss of around $1.33 million. Despite that, it showcases the growing confidence of the investor towards the meme coin’s future trajectory.
DOGE To Hit $3 Next?
Apart from the Dogecoin whales, it appears many are now shifting their focus toward the digital assets space, especially the meme coins segment. Notably, interest rose after Elon Musk was appointed to the Department Of Government Efficiency (D.O.G.E.) to cut the excess Federal spending.
The short form of the department, resembling the ticker of Dogecoin, has sparked interest among investors. Besides, Musk has actively voiced his support for DOGE previously on the X platform, which has also fueled interest among investors.
However, despite the positive sentiment, the crypto market today retreated with Bitcoin price also witnessing a pullback from its ATH. Besides, several other top altcoins and meme coins have also faced pressure, as witnessed by the recent performances of the coins.
As of writing, DOGE price today was down over 6% and exchanged hands at $0.3726, while its one-day trading volume fell 31% to $14.88. Over the last 24 hours, the leading meme coin has touched a high of $0.4147. Notably, the crypto has touched a weekly gain of 89%, while in the last 30 days, it added about 200%.
However, Dogecoin Futures Open Interest fell more than 3% today, indicating the subsiding risk-bet appetite of the investors. Despite that, a recent Dogecoin price analysis hints at a possible rally for the crypto $3, sparking market interest.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: 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.
In an effort to fuel market optimism, the leading crypto exchange Binance revealed an important update, sparking phenomenal gains in DEGEN price. A public announcement on Friday revealed that the crypto exchange is launching a perpetual contract for the mentioned crypto, sparking market discussions over its future price action. Meanwhile, traders also appear to have reacted positively to the listing announcement, as the coin’s intraday trading volume surged over 100%.
DEGEN Price Rallies On Binance Announcement
As per an official Binance announcement dated November 15, the crypto exchange is adding a DEGENUSDT (USD-Margined) perpetual contract today at 11:30 UTC. The announcement revealed that users on the platform remain poised to enjoy 75x leverage trading the asset.
Meanwhile, the exchange also plans to support Multi-Assets Mode for the crypto, offering enhanced flexibility and risk management for users. Further, the capped funding rate set by the exchange was at +2.00% / -2.00%. However, the leading crypto exchange also added that it could make potential changes in the contract ahead based on market risk conditions. These potential changes encompass adjustments in the funding fee, tick size, maximum leverage, initial margin, or maintenance margin requirements.
Nevertheless, the announcement appears to have set off optimistic waves for the token across the industry as DEGEN price rocketed amid a bull market.
DEGEN Soars 46%
At the time of reporting, DEGEN price surged 46% to trade at $0.02981. The coin’s intraday low and high were $0.01983 and $0.03272, respectively. Notably, intraday trading volume for the crypto soared 137% to $411.77 million. This bullish trajectory aligns with the aforementioned listing announcement.
Further, in light of the perpetual contract launch, the token’s futures OI witnessed gains worth 43% to $37.58 million. Moreover, the derivatives volume witnessed a 153% uptick to $125.94 million. Overall, this data showcases heightened investor increase in the asset.
In another similar chronicle, CoinGape Media reported recently that Sudeng (HIPPO) price skyrocketed following its perpetual contract launch on the same exchange. Notably, the token rallied 127% to date in the aftermath. This past chronicle has ignited substantial optimism over DEGEN price ahead. Crypto market enthusiasts continue to extensively eye the token for further gains ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: 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.
Upbit, the leading South Korean crypto exchange, is under investigation for KYC violations during its license renewal process. The Financial Intelligence Unit (FIU) discovered over 500,000 cases of improper customer verification.
The violations have raised concerns about money laundering risks. The exchange’s ability to renew its license is now in jeopardy. Authorities are closely examining the full extent of the issue and its potential impact on the exchange future.
Major KYC Violations Found During Upbit License Renewal Process
Since the South Korea regulators, the Financial Intelligence Unit (FIU), started inspecting Upbit business license renewal applications in August, they’ve uncovered troubling violations. The KYC (Know Your Customer) process, a crucial measure to prevent money laundering, has reportedly been poorly executed.
According to a report by MK, over 500,000 accounts were flagged for failing to meet proper verification standards. These issues were primarily caused by blurred identification documents, which were submitted by users but still accepted. This raises concerns about Upbit’s commitment to maintaining regulatory standards.
The number of suspicious cases continues to grow as investigations proceed. The blurry IDs submitted by users, often with illegible names and registration numbers, were processed without proper verification. Such lapses not only undermine the integrity of the exchange’s KYC system but also leave the platform vulnerable to criminal activity. As the FIU delves deeper, the focus will be on how these violations will affect the platform’s future and its business license renewal.
The ongoing review will ultimately determine if Upbit’s license renewal is at risk, with potential fines and severe repercussions depending on the findings.
Regulatory Landscape and Future Outlook
The exchange is facing mounting pressure as its KYC violations threaten its license renewal. This scrutiny comes after Upbit faced an investigation for its dominant market position and ties to K-Bank, which further complicates its regulatory landscape. The ongoing investigation highlights the risks associated with unchecked growth in the crypto sector, leading to potential market instability.
In addition to the exchange’s ongoing issues, Radiant Capital (RDNT) is facing a trading suspension by the South Korea Digital Asset Exchange Association (DAXA). This move comes after the exchange failed to address security concerns following a recent breach.
DAXA has decided to halt RDNT trading, aiming to safeguard investors until the security issues are resolved. This action underscores the growing regulatory oversight in South Korea, where exchanges are facing heightened scrutiny to ensure compliance with financial regulations and protect users.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: 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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