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Circle CEO Jeremy Allaire Praised Brasil Crypto Industry

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Jeremy Allaire, CEO of Circle, the issuer of the USDC stablecoin, announced new partnerships with industry giants during his visit to Brazil.

Allaire noted that the adoption of cryptocurrencies and stablecoins is still in its early stages.

Circle Officially Enters Brazil, BTG Pactual Will Issue USDC

During his visit to Brazil, Circle’s chairman signed a partnership with BTG Pactual. This means one of Latin America’s largest investment banks will now offer USDC to the market through the local banking system.

“BTG will be our direct liquidity partner for the minting [registration within the blockchain] of USDC 24 hours a day, seven days a week. This means that on a retail and institutional level, companies and investors will be able to almost instantly issue and receive USDC in Brazil using the real in the local banking system,” Allaire said.

The executive with over two decades of experience stated that the partnership with BTG “represents a tremendous milestone.”

“We are still in the early stages and at the beginning of the wider use of digital dollars, we are at the beginning of the wider use of blockchain in the financial system,” he stated.

Read more: Top 12 Crypto Companies to Watch in 2024

Allaire told a small group of journalists in São Paulo that he is certainly excited to see wider adoption by end users. He expressed enthusiasm about the growing number of financial institutions, fintechs, and payment companies gaining access to this infrastructure in Brazil. While these partnerships are important, he noted that Brazil has a much larger overall number of financial institutions and fintechs.

“We want to grow this and I think now we have the real infrastructure, the financial infrastructure, we have the key partners that can really grow this. I think it’s really the beginning and it’s about enabling, you enable thousands of institutions here in Brazil to be able to use this infrastructure,” Circle CEO commented.

BTG CEO Roberto Sallouti stated during the Circle meeting that blockchain is likely the future path for the institutional and financial systems. Jeremy Allaire echoed this sentiment in his discussion with reporters. The CEO highlighted the success of the Central Bank’s PIX system, which now has over 160 million users. He noted that Brazil, with leaders like Roberto Campos Neto, has a progressive approach to advancing financial technology and initiatives like Drex.

“We are committed to making a positive impact on the Brazilian market and partnering with key stakeholders to enable companies to participate in the global economy more easily and efficiently. There are many powerful opportunities on the horizon when Brazil’s advanced fintech ecosystem converges with the world’s most accessible dollar platform,” Circle co-founder said.

Brazil Will Become a Major Crypto Player

Jeremy Allaire explained that Circle initially launched USDC in Singapore due to strong Asian demand. Nevertheless, he now sees Brazil as a major global player.

“People know that Asia is a huge hub for this activity, but when we look at other markets, we look at Brazil,” he stated.

According to Allaire, the proactive stance of Brazilian regulators, such as the Central Bank, has attracted Circle’s attention. Besides partnering with BTG, Circle has also teamed up with Nubank and Mercado Bitcoin.

When asked if the United States lags behind Brazil in digital currency adoption, Jeremy Allaire noted that the US has the largest financial system in the world and the most to lose from inaction. However, he also mentioned that the US government might prefer to wait “until things are more developed before taking the next steps.”

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

“This is a slow-moving trend. But at the same time, there has been a particular environment around fintech innovation. And I consider Circle to be one of them. They were built under an American regulatory regime, and so there has been a lot of progress,” Allaire noted.

Regarding the US presidential race, Jeremy Allaire mentioned Donald Trump, noting that the Republican candidate often supports cryptocurrencies. Circle CEO also pointed out that Trump opposes the digital dollar (CBDC).

“Regardless of who wins the presidential election in the United States, we’re going to see more constructive, bipartisan work to regulate the sector. There may be some differences of opinion here or there, but I think the general direction is, regardless, towards good regulation,” he concluded.

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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JASMY Price Up 14% as Golden Cross Fuels Bullish Momentum

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JasmyCoin (JASMY) price has risen 14% in the last seven days, and its market cap is approaching $1.6 billion. The recent rally has been fueled by multiple golden crosses, signaling strong bullish momentum, while the Ichimoku Cloud setup remains positive.

However, BBTrend has turned negative, suggesting that selling pressure could increase in the near term. Whether JASMY continues its surge or faces a pullback will depend on how it reacts to key resistance and support levels in the coming days.

JASMY BBTrend Is Now Negative, Down From 6.37 Yesterday

JASMY BBTrend is currently at -4.36, dropping sharply from 6.37 just a day ago.

This rapid decline indicates a significant shift in momentum, suggesting that bearish pressure has increased over the past few hours.

JASMY BBTrend.
JASMY BBTrend. Source: TradingView.

BBTrend is a trend strength indicator derived from Bollinger Bands, which measures price momentum relative to its volatility range. A positive BBTrend indicates bullish momentum, while a negative reading suggests increasing bearish pressure.

With JASMY BBTrend turning more negative, it signals that sellers are gaining control, which could lead to further price declines unless buying pressure increases.

JASMY Ichimoku Cloud Shows a Bullish Setup

The Ichimoku Cloud chart for JASMY shows a strong bullish breakout, with the price moving well above the cloud (Kumo). The Tenkan-sen (blue line) is also above the Kijun-sen (red line), reinforcing short-term bullish momentum.

The Chikou Span (green lagging line) is far above the past price action, confirming that the trend has strong upside pressure. However, the future cloud is still red, meaning that some resistance could emerge if price retraces.

JASMY Ichimoku Cloud.
JASMY Ichimoku Cloud. Source: TradingView.

Despite this strong move, the price has now consolidated after its breakout, and the Tenkan-sen has been acting as short-term support. If the price remains above the cloud, the bullish trend could continue, but a move back into the cloud might indicate a period of consolidation or weakening momentum.

The cloud ahead is turning green, suggesting that if buyers maintain control, the trend could stay intact. The next few candles will be crucial in determining whether JASMY continues its upward trajectory or faces a correction.

JASMY Price Prediction: Will the Surge Continue?

JASMY chart shows its EMA lines formed multiple golden crosses in the last few days, signaling strong bullish momentum. Another golden cross could form soon, which may push JASMY toward its next resistance at $0.036.

If that level is broken, further upside could take JASMY to $0.041, reinforcing its bullish trend, especially if the narrative around DePIN recovers a good momentum.

JASMY Price Analysis.
JASMY Price Analysis. Source: TradingView.

However, BBTrend suggests that the trend could be at risk of reversing. If selling pressure increases, the altcoin could test the support at $0.031, and if that level fails, a drop to $0.029 could follow.

A stronger downtrend could push the price as low as $0.025, making the next moves critical for determining whether the bullish trend can continue.

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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Las Vegas Sphere Denies Involvement with Dogwifhat

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Dogwifhat’s price dropped nearly 10% in one hour after the Vegas Sphere denied any deal with the meme coin. A crowdfunding campaign raised around $700,000 to put WIF on the Sphere, but this never materialized.

Developers claim that they conducted negotiations through an intermediary due to their non-corporate structure, but this statement may be totally fraudulent.

Did Dogwifhat Lie About Partnership with Las Vegas Sphere?

It’s been a challenging new year for the popular dog-themed Solana meme coin. The token’s price began dropping in November and hasn’t quite recovered. Although a few speed bumps have periodically interrupted this decline, the downward trend is inexorable.

Today, new reports denying any partnership between Dogwifhat and the Vegas Sphere caused the meme coin’s price to plunge nearly 10%.

“We have never had a deal with Dogwifhat, and our agency at the time only had one very preliminary conversation early last year. There was and is no plan for Dogwifhat to appear on the Exosphere, and we are distressed they are using our name for fraudulent purposes,” a Vegas Sphere representative claimed in an interview.

Initially, it may seem strange that the Vegas Sphere has such an impact on Dogwifhat’s price. However, a crowdfunding campaign from early 2024 promised that WIF would appear on the Sphere and raised over $700,000.

Earlier this week, developers teased a Sphere launch, saying they would post dates “as soon as we are allowed to share.”

It appears this was a complete fabrication. Earlier in the week, WIF surged 34% after the Vegas Sphere tease but quickly dropped when the deal never materialized.

Now that the Sphere has accused WIF developers of misinformation, these price wobbles turned into an immediate 10% drop.

Dogwifhat (WIF) Price Performance
Dogwifhat (WIF) Price Performance. Source: BeInCrypto

The meme coin’s team, for its part, has fervently denied any foul play. In a recent social media post, it claimed that Dogwifhat organizers have been in “ongoing negotiations” with Vegas Sphere representatives.

They claim to have acted through an intermediary since they don’t have a formal corporate structure. They also promised to refund the $700,000 crowdfunded assets if the deal falls through.

“If, by any chance, the plan is not executed, then the contract will be voided and contributions will be returned. There has been no intent to mislead any parties,” Dogwifhat posted on X (formerly Twitter).

Of course, this statement could be a complete lie. Appalling meme coin schemes have risen dramatically since Trump launched his own token, bringing in huge numbers of complete newcomers.

However, If the Dogwifhat team made up a story about the Vegas Sphere to hype up their own meme coin, it’d be far from the worst scam in today’s crypto industry.

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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Exploring 3 Hot New Cryptos: VVV, JELLYJELLY, and PKIN

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Three new cryptos, Venice Token (VVV), jelly-my-jelly (JELLYJELLY), and Pumpkin Fun (PKIN), have gained attention this week. VVV, launched by ShapeShift founder Erik Voorhees, powers a privacy-focused AI assistant and has over 43,000 holders.

JELLYJELLY, created by Venmo co-founder Iqram Magdon-Ismail, is tied to a new social media app and reached a $74 million market cap in under two days. PKIN, the native token of the Pumpkin Fun launchpad, is seeing rapid adoption, with over 53,000 daily transactions and strong demand for Solana-based meme coin launches.

Venice Token (VVV)

VVV is the native token of Venice AI, an artificial intelligence assistant focused on privacy and uncensored interactions. It was created by Erik Voorhees, the founder of ShapeShift, a well-known DeFi platform.

VVV Price Chart and Market Data.
VVV Price Chart and Market Data. Source: Dexscreener.

Initially airdropped to early users, VVV is now available on the Base chain, and it was among Base’s biggest new cryptos launched recently. While its price saw an initial surge, it has since dropped significantly. Despite this decline, the token has over 43,000 holders and a market cap of around $167 million.

VVV’s RSI is currently at 35.6, indicating that it is approaching oversold territory. An RSI below 30 is generally seen as oversold, meaning a reversal could be near if buyers step in. However, if selling pressure continues, Venice Token could see further declines before stabilizing.

jelly-my-jelly (JELLYJELLY)

JELLYJELLY is the native coin of the Jelly-Jelly app, a social platform introducing a new “conversational” media format for recording, editing, and sharing. It was launched by Iqram Magdon-Ismail, the co-founder of Venmo, first on Pumpfun before graduating to Raydium.

JELLYJELLY Price Chart and Market Data.
JELLYJELLY Price Chart and Market Data. Source: Dexscreener.

In less than two days, JELLYJELLY gained over 47,000 holders, with a daily volume of $753,000 and 3,100 transactions. Its market cap is already close to $77 million, showing strong initial interest despite relatively low transaction activity.

While still a new coin, its connection to Venmo’s co-founder could attract more users and investors over time. The fact that JELLYJELLY is tied to a real product also strengthens its potential, as projects with actual utility often sustain long-term interest better than purely speculative tokens.

PUMPKIN (PKIN)

Pumpkin Fun is a newly launched Solana-based launchpad for new cryptos that aims to compete with PumpFun. To attract new projects, it offers features like ultra-fast coin launches, live streaming, rewards unlocking, and on-platform staking.

PKIN Price Chart and Market Data.
PKIN Price Chart and Market Data. Source: Dexscreener.

The platform has quickly gained traction, reaching nearly 17,500 holders with a market cap of $26.7 million. With over 53,000 daily transactions, engagement on Pumpkin Fun is already strong, signaling a growing interest in its ecosystem.

Pumpkin Fun’s RSI is currently at 65, indicating that it’s approaching overbought territory but still has room to run if the momentum continues. If the platform can successfully attract meme coin launches at scale, demand for PKIN could push its price even higher in the coming weeks.

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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