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M2 crypto exchange to allow UAE residents to trade crypto using bank accounts

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M2 crypto exchange to allow UAE residents to trade crypto using bank accounts
  • M2 enables UAE residents to trade BTC and ETH directly with bank accounts.
  • Integration supports dirham deposits, withdrawals, and market-responsive trading.
  • UAE has strict regulations to ensure consumer protection and market transparency.

In a significant development for the digital asset market in the United Arab Emirates (UAE), M2, a prominent crypto exchange, has announced that UAE residents can now buy and sell Bitcoin (BTC) and Ethereum (ETH) directly using their bank accounts.

This new integration facilitates the direct conversion of UAE dirhams into BTC and ETH through M2’s spot market, marking a milestone in the accessibility of virtual assets in the region.

M2 users can seamlessly convert dirhams into BTC and ETH and vice versa

In an announcement shared with Cointelegraph, the M2 exchange highlighted that the new feature will enable users to convert dirhams into Bitcoin and Ether seamlessly through the trading pairs listed on M2’s spot markets.

Additionally, the platform supports the deposit and withdrawal of dirhams, offering users greater flexibility in managing their assets.

The M2 team emphasized that this integration would enable users to “swiftly adapt to market changes,” allowing them to easily convert their local currency into crypto.

This is particularly beneficial for everyday investors who may not be fully immersed in the complexities of the trading environment.

According to M2, the higher levels of familiarity and significant trading volumes of BTC and ETH make these cryptocurrencies ideal entry points for new investors looking to enter the digital asset space.

UAE has the strictest regulatory framework globally

Regulated by the UAE government, which is known for its stringent consumer protection measures, this move reflects the country’s commitment to safeguarding its residents in the evolving crypto landscape.

The UAE has established a reputation for having one of the strictest regulatory frameworks globally, prioritizing consumer protection. In 2022, Dubai’s Virtual Asset Regulatory Authority (VARA) mandated greater transparency in crypto advertisements to better protect consumers.

Moreover, in 2023, the UAE introduced a federal law aimed at preventing fraud in the crypto market, imposing fines of up to 10 million AED ($2.7 million) for violations.

Commenting on the integration, Kimmel, an executive at M2, noted that the ADGM’s licensing process was demanding due to its high standards for multilateral trading facility permits. However, he affirmed that this rigorous due diligence ensures that licensed platforms meet the country’s security and transparency standards, thereby fostering trust among UAE users.

Despite the challenges associated with the licensing process, the UAE continues to be a strategic region for the crypto industry.

Favourable tax policies, access to global markets, and a safe environment for innovation make the UAE an attractive destination for crypto businesses.

This new development by M2 is set to further enhance the accessibility and appeal of virtual assets in the UAE, making it easier for residents to participate in the burgeoning crypto market.



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Ethereum Could Be Set To Explore New Highs As On-Chain Metrics Light Up

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Este artículo también está disponible en español.

On-chain data shows metrics related to network activity have spiked for Ethereum recently, something that could pave way for a further rally.

Ethereum Transaction Volume & Whale Transfer Count Have Spiked Recently

According to data from the on-chain analytics firm Santiment, Ethereum has seen an uplift in two activity-related metrics. The indicators in question are the Transaction Volume and the Whale Transaction Count.

The first of these, the “Transaction Volume,” keeps track of the total amount of the cryptocurrency (in USD) that users on the ETH network are shifting across the network with their transactions.

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When the value of this metric is high, it means the ETH blockchain is processing the transfer of a large number of coins right now. Such a trend suggests the investors actively invest in asset trading.

On the other hand, the low indicator implies the interest in the cryptocurrency may currently be low as the holders are only moving around a low amount of ETH.

Now, here is a chart that shows the trend in the Transaction Volume for Ethereum over the last few months:

Ethereum Volume
The value of the metric appears to have been quite high in recent days | Source: Santiment on X

As displayed in the above graph, the Ethereum Transaction Volume has registered a sharp surge recently, implying interest in the asset has increased alongside the price rally.

This could be considered a constructive development for the cryptocurrency, as an increasing network activity is generally required for rallies to be sustainable.

In the past, some price moves have kicked off sharply, but the Transaction Volume didn’t register much of an increase at the same time. Such moves generally died out before long.

The chart also contains the data for the other metric of relevance here, the “Whale Transaction Count.” This indicator measures the total amount of ETH transfers valued at more than $100,000.

Transactions of this scale are assumed to be coming from the whale entities, so the Whale Transaction Count reflects the activity level of the big-money investors.

From the graph, it’s apparent that this indicator has also spiked for Ethereum recently, which implies that the recent increase in the volume isn’t just a sign of interest from the smaller investors but also the humongous hands.

Naturally, it’s impossible to say based off these indicators alone, whether the investors are buying or selling, as all types of transactions look the same from their view. Because ETH has seen a sharp rally recently, this activity has probably been for accumulation so far.

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The analytics firm explains,

Expect any growth from Bitcoin, during this bull run, to see profits redistribute into Ethereum and potentially push it toward its own all-time high while its network activity looks very healthy.

ETH Price

After observing a surge of more than 27% over the last seven days, Ethereum has broken beyond the $3,150 level.

Ethereum Price Chart
The price of the asset appears to have been riding bullish momentum recently | Source: ETHUSDT on TradingView

Featured image from Dall-E, Santiment.net, chart from TradingView.com



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Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs

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Este artículo también está disponible en español.

Ethereum has staged an impressive 35% rally since last Tuesday, marking a bullish breakout as it tests crucial supply levels for the first time since late July. Investor sentiment is increasingly optimistic, driven by a surge in Ethereum’s on-chain activity. 

Key data from IntoTheBlock reveals that transaction volume on Ethereum’s mainnet has reached its highest levels since July, a bullish signal highlighting renewed interest and activity in the network. This surge in volume is often seen as confirmation of a breakout, aligning with expectations from investors who have anticipated a strong rally toward Ethereum’s yearly highs. 

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With momentum building, ETH now stands at a pivotal point: if it can maintain strength above these new levels, the stage may be set for further upside as the broader crypto market rallies alongside Bitcoin. 

The next few days will be crucial for Ethereum as traders watch to see if the bullish sentiment can sustain and propel ETH higher into new price territory.

Ethereum Bullish Trend Begins

Ethereum has entered a new bullish phase after eight months of consistent selling pressure and significant accumulation by smart money. Following a long period of subdued price action, ETH is finally rising, signaling a trend reversal many analysts and investors eagerly awaited. 

Data shared by IntoTheBlock on X shows that Ethereum’s mainnet transaction volume has surged significantly, with nearly $60 billion settled over the past week—the highest level since July. This spike in volume is a clear indicator of renewed market interest, and it suggests that more investors are actively trading and accumulating ETH. 

Ethereum transactions on the mainnet hit $60B in a week
Ethereum transactions on the mainnet hit $60B in a week | Source: IntoTheBlock on X

When transaction volumes rise alongside price increases, it often signals healthy demand and strong market confidence, supporting the likelihood of a sustained bullish trend.

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The next few months are expected to be volatile as speculative interest and trading activity heat up, with many traders positioning for substantial gains. Despite the anticipated price swings, analysts agree that Ethereum’s next major target is its yearly high of $4,000. Breaking this level would confirm Ethereum’s bullish momentum and set the stage for potential new all-time highs, aligning with the broader market’s optimism.

ETH Consolidates Above $3,000 

Ethereum is trading at $3,180, following a recent push to a local high of $3,250. After a strong weekend rally, the price paused, hinting at the need for consolidation before another potential breakout. This period of sideways movement could be essential for ETH to establish support and prepare for further upside, as it allows buyers to gather momentum while absorbing any short-term selling pressure.

ETH consolidates above $3,000
ETH consolidates above $3,000 | Source: ETHUSDT chart on TradingView

Key technical levels show that bullish sentiment is likely to strengthen if ETH maintains its position above $2,950, aligned with the 200-day moving average (MA). Holding this critical support level would signal buyers remain in control, setting up ETH for a potential rally toward $3,500 soon. 

However, it’s also possible that ETH could take a few days to build up the momentum needed for its next substantial move as investors assess the recent rally and consider upcoming catalysts.

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In the meantime, the market appears optimistic, with analysts noting that maintaining levels above the 200-day MA is crucial for confirming the long-term bullish trend. ETH’s consolidation phase could be the foundation for continuing its upward trajectory.

Featured image from Dall-E, chart from TradingView



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Bitcoin breaks $82,000 boosted by Trump’s re-election win

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  • Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week
  • Over the past 30 days, Bitcoin has increased in value by more than 30%
  • Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.12 billion in daily inflows

Bitcoin has hit another record, reaching over $82,000 on Monday, boosted by Donald Trump’s re-election to the White House last week.

According to data from CoinMarketCap, Bitcoin’s value has risen more than 19% in the past seven days and 30% over the past 30 days. Taking to X, Anthony Pompliano, host of the Pomp podcast, said:

“The first pro-Bitcoin President was elected in US history and Bitcoin hit $80,000 within a week. The market is preparing itself.”

While Trump’s win has helped push crypto prices up, many don’t think it’s the sole reason. In response, Sleep Money Maker said: “Think bigger than one week or one event. We’re watching decades of regulatory friction starting to dissolve. When barriers fall, capital flows – that’s just market physics in action.”

Speaking to CoinJournal last week, James Toledano, COO at Unity, a self-custody crypto wallet, said it was “disingenuous” to say the US election directly caused the price increase.

In the long-term, it won’t be the election that moves the crypto market, but “broader macroeconomic events, technological advancements, shifting market sentiment, and factors outside of the next President’s control,” Toldeano explained.

Institutional appetite for Bitcoin is rising

Institutional interest in Bitcoin has also reached new levels, noted by BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) bringing in a record $1.12 billion in daily inflows. This followed BlackRock setting a new record in October when its total assets reached $30 billion in 293 days.

Speaking of the recent price rally, Toledano, said:

“There is clearly heightened confidence in Bitcoin as a key investment vehicle and institutional investors are not only recognizing Bitcoin’s resilience as an asset class but are increasingly allocating capital in response to favorable macroeconomic conditions, including recent rate cuts and political shifts.”

Other coins that are rallying include Ethereum, trading over $3,100, Solana, at $216, and Dogecoin, up nearly 158% in the past month at $0.2877.





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