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Bitcoin eyes the $60k level as Tequila’s fair launch commences today

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Key takeaways

  • Bitcoin traded above $59k earlier today and could reach the $60k psychological level soon.
  • Tequila’s presale commences today as investors eye the next Solana meme coin.

Bitcoin targets $60k

The cryptocurrency market suffered huge losses last week but is slowly recovering. Bitcoin, the leading digital currency by market cap, briefly touched the $59,200 level earlier and now trades at $59,003 per coin. 

The major catalyst behind this positive performance is the increased inflow in spot Bitcoin exchange-traded funds (ETFs) in the United States. Furthermore, the US Federal Reserve chairman Jerome Powell also discussed the possibility of interest rate cuts this year while addressing the Congress on Tuesday. 

Tequila (JULIO)’s presale commences today

Tequila’s presale launch coincides with this week’s market recovery, with institutional investors pouring funds into spot Bitcoin ETFs and other asset classes. The $JULIO token will launch on the Solana blockchain thanks to the network’s speed, transparency, and other unique qualities.

According to the development team, Tequila is Mexico’s gift to the world from the agave fields of Jalisco. Its $JULIO harmonises the unending fun of tequila-fueled nights with the upside of a memecoin. With $JULION, investors will own a token combining tequila’s allure, one of the world’s most popular distilled liquors, with the excitement of meme coins.

The project has several stages, with the first phase launching today. The phases are Agave Plating, Distillation, Aging, and Bottling. Each phase contains milestones that the team intends to achieve. 

The various Tequila phases

As stated above, Tequila (JULIO) has several phases, with the first phase launching today. Tequila seeks to establish a strong foundation within the crypto community and get listed on CoinMarketCap and CoinGecko. 

The Agave Plating includes the $JULIO fair launch (which commences today), marketing push, and listing on CoinMarketCap and CoinGecko. In the distillation stage, $JULIO will be listed on centralised cryptocurrency exchanges. However, the team is yet to reveal the crypto exchanges its token will initially launch. 

The Aging phase of Tequila’s roadmap includes listing on tier-1 centralised exchanges and its Tequila-themed parties. Bottling is the last phase and comprises Tequila’s Meme utility, the launch of $JULIO on Layer-3, and the creation of Tequila spirit with payments exclusively made in $JULIO. 

In terms of tokenomics, there would be a total of 100 million $JULIO tokens. 90% of the tokens would be available for public acquisition and the remaining 10% for marketing activities. The initial liquidity and starting price will be decided at a later date. 

Tequila’s launch comes at a time when there is high interest in meme coins, especially Solana-based meme coins. With its unique value proposition, Tequila could quickly become one of the leading meme coins on the Solana blockchain. 

Read more about the Tequila project here

Is $JULIO worth your investment?

The best time to buy tokens at a discount price is during their presale. With the explosion of meme coins, this could be the perfect opportunity to buy $JULIO tokens at a low price. 

Tequila wants to become a leading meme coin by introducing a fresh perspective with its thematic approach. With the right level of adoption in the market, $JULIO could be amongst the top winners in the current bull cycle.



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CFTC’s Crypto Market Overhaul Under New Chair Brian Quintenz

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Brian Quintenz, the incoming Chair of the US CFTC (Commodity Futures Trading Commission), has begun meeting with Capitol Hill lawmakers before his nomination hearing.

On Monday, Quintenz met with Senator Chuck Grassley (R-IA) to discuss key regulatory issues, including the CFTC’s role in overseeing crypto spot markets.

CFTC Targets Crypto Spot Market After Derivatives

Brian Quintenz met with Republican Senator from Iowa Chuck Grassley to discuss another element in the CFTC’s crypto market structure regulation agenda. This time, the focus is on crypto spot markets.

“It was wonderful to meet with you Chuck Grassley and discuss your leadership on whistleblower issues as well as the future of the agency,” Quintenz stated.

Grassley also commented on their discussion. He highlighted the CFTC Whistleblower Protection Program for spot crypto markets as part of the agenda. Notably, Grassley is a member of the Senate AG Committee, the legislative body overseeing the CFTC.

Eleanor Terrett, host of the Crypto America podcast, indicated that the Senate AG Committee will have a significant role in part of the CFTC’s crypto regulation agenda. Specifically, it would have an outsized say in whether the CFTC could gain expanded jurisdiction over crypto spot markets.

The meeting comes as the CFTC moves closer to expanding its role in crypto regulation. US President Donald Trump tapped Quintenz, a former executive at venture capital firm Andreessen Horowitz (a16z), to lead the agency.

His appointment is part of Trump’s broader plans to reshape crypto oversight. This could potentially give the CFTC greater authority over digital asset markets.

Meanwhile, regulatory developments surrounding crypto have accelerated in recent weeks. The CFTC eased regulatory hurdles for the crypto derivatives market only days ago. The move will enhance market efficiency and attract institutional investors.

Beyond derivatives and spot markets, the CFTC is also exploring other areas of crypto oversight. The agency recently announced plans to host a roundtable discussion on prediction market regulation. It aims to address the regulation of decentralized prediction platforms.

Stablecoins are also on the agency’s radar. The CFTC also revealed a forum to discuss stablecoin regulation and potential risks associated with their widespread adoption.

Additionally, the Federal Deposit Insurance Corporation (FDIC) and the CFTC revoked previous crypto-related guidelines, signaling a shift in regulatory strategy.

Crypto markets can also not rule out the possibility of further collaboration between key agencies in the broader industry. Reports indicate that the US SEC (Securities and Exchange Commission) and the CFTC have discussed reviving a joint advisory committee to coordinate on crypto regulation.

If revived, the committee could serve as a bridge between the agencies. This would address concerns over jurisdictional overlap and streamlining oversight efforts.

As Quintenz prepares for his nomination hearing, his meetings with lawmakers suggest that crypto regulation will be a top priority for the CFTC moving forward.

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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Solana (SOL) Holds Steady After Decline—Breakout or More Downside?

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Solana started a fresh decline below the $132 support zone. SOL price is now consolidating and might struggle to recover above the $126 resistance.

  • SOL price started a recovery wave from the $122 support zone against the US Dollar.
  • The price is now trading below $130 and the 100-hourly simple moving average.
  • There is a key rising channel forming with support at $124 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could start a fresh increase if the bulls clear the $126 zone.

Solana Price Faces Resistance

Solana price started a fresh decline below the $135 and $132 levels, like Bitcoin and Ethereum. SOL even declined below the $125 support level before the bulls appeared.

A low was formed at $122.64 and the price recently started a consolidation phase. There was a minor increase above the $125 level. The price tested the 23.6% Fib retracement level of the downward move from the $140 swing high to the $122 low.

Solana is now trading below $126 and the 100-hourly simple moving average. There is also a key rising channel forming with support at $124 on the hourly chart of the SOL/USD pair.

On the upside, the price is facing resistance near the $126 level. The next major resistance is near the $128 level. The main resistance could be $132 or the 50% Fib retracement level of the downward move from the $140 swing high to the $122 low.

Solana Price

A successful close above the $132 resistance zone could set the pace for another steady increase. The next key resistance is $136. Any more gains might send the price toward the $142 level.

Another Decline in SOL?

If SOL fails to rise above the $128 resistance, it could start another decline. Initial support on the downside is near the $124 zone. The first major support is near the $122 level.

A break below the $122 level might send the price toward the $115 zone. If there is a close below the $115 support, the price could decline toward the $102 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $124 and $122.

Major Resistance Levels – $128 and $132.



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Ethereum Price Faces a Tough Test—Can It Clear the Hurdle?

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Ethereum price started another decline and traded below the $1,850 level. ETH is now consolidating and facing key hurdles near the $1,850 level.

  • Ethereum struggled to continue higher above the $1,980 resistance level.
  • The price is trading below $1,860 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance at $1,810 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must clear the $1,850 and $1,880 resistance levels to start a decent increase.

Ethereum Price Attempts Recovery

Ethereum price failed to continue higher above $2,050 and started another decline, like Bitcoin. ETH declined below the $1,880 and $1,850 support levels.

It tested the $1,765 zone. A low was formed at $1,767 and the price recently started a short-term recovery wave. The price climbed above the $1,800 resistance. There was a move above the 23.6% Fib retracement level of the downward move from the $2,033 swing high to the $1,767 low.

There was also a break above a connecting bearish trend line with resistance at $1,810 on the hourly chart of ETH/USD. Ethereum price is now trading below $1,860 and the 100-hourly Simple Moving Average.

On the upside, the price seems to be facing hurdles near the $1,850 level. The next key resistance is near the $1,860 level. The first major resistance is near the $1,900 level and the 50% Fib retracement level of the downward move from the $2,033 swing high to the $1,767 low.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $1,900 resistance might send the price toward the $2,000 resistance. An upside break above the $2,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,050 resistance zone or even $2,120 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $1,850 resistance, it could start another decline. Initial support on the downside is near the $1,800 level. The first major support sits near the $1,780 zone.

A clear move below the $1,780 support might push the price toward the $1,765 support. Any more losses might send the price toward the $1,710 support level in the near term. The next key support sits at $1,665.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $1,800

Major Resistance Level – $1,850



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