In the rapidly evolving world of digital finance, M20 Chain stands out as a beacon of innovation. This pioneering blockchain platform is not just keeping pace with the times; its setting the pace, redefining how we think about transactions, assets, and the very fabric of economic exchange with its native cryptocurrency, MCoin.

M20 Chain emerges as a robust Web3 ecosystem that seamlessly integrates blockchain technology into everyday life. This platform isnt just another blockchain solution; its a comprehensive approach designed to enhance the utility, accessibility, and efficiency of digital transactions globally. With a strong emphasis on decentralization, transparency, and security, M20 Chain is forging a path toward a decentralized financial future that empowers users and developers alike.

At the heart of this innovative platform is MCoin, M20 Chains native token. MCoin is more than just a digital currency; it is the cornerstone of the M20 ecosystem, facilitating not only transactions but also serving as a vital element in maintaining and operating the network. Users can employ MCoin for a variety of functions, such as payment processing, executing smart contracts, and participating in governance through voting on protocol changesa testament to the tokens integral role in the platforms operations.

MCoin is listed on several top-tier cryptocurrency exchanges, including LBank, MEXC, and Coinstore, ensuring it is accessible to a global audience. This widespread availability supports MCoins potential for increased adoption and integration into the broader ecosystem of digital finance. Notably, MCoins community is particularly strong in Asia and Europe and continues to expand globally, reflecting its growing relevance and adoption in the international markets.

Security is paramount in the digital currency world, and M20 Chain excels in this area. The platform is fortified with advanced encryption technologies and a rigorous security protocol that includes regular audits and updates. Significantly, M20 Chain has undergone a comprehensive Certik audit, affirming its security measures and bolstering user confidence. Additionally, M20 Chain has demonstrated exceptional scalability, capable of handling increasing loads through its innovative design and architecture, ensuring that it can grow without compromising speed or user experience.

As M20 Chain continues to evolve and expand, it remains dedicated to its mission of making blockchain technology accessible and beneficial for a wide range of applications. From individual users seeking a secure space to perform transactions to developers creating the next generation of decentralized applications, M20 Chain provides a solid foundation for a future where blockchain technology is an integral part of our digital lives.

The future of blockchain looks bright with M20 Chain and MCoin. As more people and enterprises recognize the potential of this powerful technology, M20 Chain is poised to lead the way, making digital transactions more secure, efficient, and accessible to everyone, everywhere.

Whether you are a seasoned investor, a blockchain enthusiast, or simply curious about the future of technology, keeping an eye on M20 Chain and its developments with MCoin might give you a glimpse into the future of finance and technology. Join the revolution and be part of a community that is shaping the world of tomorrow, today.

https://m.lbank.com/trade/mcoin_usdt

https://www.mexc.com/exchange/MCOIN_USDT

https://m20chain.com

https://skynet.certik.com/projects/m20

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Visit link:

M20 Chain and MCoin: Pioneering the Future of Cryptocurrency - NewsBTC

The cryptocurrency market underwent a correction over the weekend, with the global market cap falling to $2.48 trillion. The price dip could be due to Irans attack on Israel, which has impacted global economics. Furthermore, rising inflation in the US has also led to investors becoming weary of risky assets, such as crypto.

However, with Bitcoins (BTC) halving just around the corner, we may witness a rebound in the crypto markets.

Bitcoin (BTC):

BTC has faced a 4.9% correction in the weekly charts, with prices falling to around $66.4k. However, with the asset undergoing its next halving cycle later this month, we may witness a sudden rally.

Also Read: Cryptocurrency: Top 3 Coins To Watch Out for in April for Maximum Profits

According to CoinCodex, BTC will hit a new all-time high of $74,621 on Apr. 20, 2024. Reaching $74,621 from current levels would translate to a growth of about 12.31%.

Furthermore, CoinCodex predicts BTC to continue surging over the next few weeks. The platform anticipates the cryptocurrency to hit $85,986 by mid-May 2024. Reaching $85,986 from current levels would translate to a growth of about 29.4%.

Toncoin (TON):

TON is one of the best-performing cryptocurrencies right now. The asset is up by 10.2% in the daily charts, 28.2% in the weekly charts, 34.5% in the 14-day charts, and 85.6% over the previous month. TONs recent surge could be due to positive ecosystem developments within the project. The asset recently overtook Dogecoin (DOGE) as the 9th largest cryptocurrency by market cap.

Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In Q2 2024

Although TON recently hit an all-time high of $7.63 on Apr. 11, CoinCodex anticipates the asset to hit a new high this week. The platform predicts TON to hit $7.94 on Apr. 18, 2024. Furthermore, CoinCodex expects TOn to continue surging over the next few weeks, hitting $23.86 on May 13, 2024.

dogwifhat (WIF):

WIF is another cryptocurrency that is expected to hit an all-time high soon. The asset recently hit a new high of $4.83 on Mar. 31, 2024. However, according to CoinCodex, WIF could hit a new high next week. According to the platform, WIF could surge to $4.87 on Apr. 28, 2024.

Furthermore, CoinCodex anticipates the cryptocurrency to continue surging over the next few weeks, hitting $10.29 on May 13, 2024.

View original post here:

Cryptocurrency: 3 Coins That Could Hit All-Time Highs This Week - Watcher Guru

XM does not provide services to residents of the United States of America.

XM does not provide services to residents of the United States of America.

At XM we offer Ultra Low Micro and Ultra Low Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions.

We offer a range of over 50 currency pairs and CFDs on precious metals, energies, equity indices and individual stocks with the most competitive spreads and with the no rejection of orders and no re-quotes execution of XM.

Risk Warning: Trading on margin products involves a high level of risk.

Access the global markets instantly with the XM MT4 or MT5 trading platforms.

Start trading the instruments of your choice on the XM MT4 and MT5, available for both PC and MAC. Alternatively, you may also want to try out the XM WebTrader, instantly accessible from your browser.

In addition, our fully-fledged platforms for mobile devices compatible with both MT4 and MT5 make it easy to access and trade on your account from your smartphone or tablet. You can choose your favorite mobile or desktop platform from the list.

Risk Warning: Trading on margin products involves a high level of risk.

Access the global markets instantly with the XM MT4 or MT5 trading platforms.

Our Research and Education center offers daily updates on all the major trading sessions along with multiple daily briefings on all critical market events which daily shape the global markets.

Manned by 20 multilingual market professionals we present a diversified educational knowledge base to empower our customers with a competitive advantage.

Risk Warning: Trading on margin products involves a high level of risk.

Access the global markets instantly with the XM MT4 or MT5 trading platforms.

XM sets high standards to its services because quality is just as decisive for us as for our clients. We believe that versatile financial services require versatility in thinking and a unified policy of business principles.

Our mission is to keep pace with global market demands and approach our clients investment goals with an open mind.

Risk Warning: Trading on margin products involves a high level of risk.

Access the global markets instantly with the XM MT4 or MT5 trading platforms.

Reuters

Apr 18, 2024 at 7:16 pm GMT

April 18 (Reuters) -

Source text : https://tinyurl.com/yc39vmpf

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain nor should it be considered as containing financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an as-is basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Unfortunately, the product or service youre trying to access isnt available in your country.

What would you like to do?

Id like to view this content despite not being eligible to open an account.

Id like to visit the website of Trading.com, another entity of the group which is a registered Retail Foreign Exchange Dealer with the Commodities Futures Trading Commission and a member of the National Futures Association.

By choosing either option, I confirm that my decision to proceed was made independently, at my own initiative and no solicitation or recommendation has been made by XM or any other entity within the group.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.

Please enter your contact information. If you already have an XM account, please state your account ID so that our support team can provide you with the best service possible.

Here is the original post:

US DOJ: Man Convicted For $110 Mln Scheme In Dept's First Cryptocurrency Open-Market Manipulation Case - XM

A group of bipartisan United States senators have introduced legislation to tackle cryptos alleged role in terrorism financing. Meanwhile, Kazakhstan has blocked 980 unlicensed crypto exchanges in 2023 and started nine investigations into illegal exchange operations and money laundering, and former Binance CEO Changpeng CZ Zhao has been ordered to remain in the United States until his sentencing in February.

Republican and Democratic lawmakers in the United States Senate have introduced legislation to counter cryptos alleged role in financing terrorism.

On Dec. 7, Senators Jack Reed, Mark Warner, Mike Rounds and Mitt Romney announced the introduction of the Terrorism Financing Prevention Act. The bill aims to expand sanctions to include parties funding designated terrorist organizations with crypto or fiat.

Senator Rounds said:

The bill would also allow the U.S. Treasury to prohibit any transaction with a foreign digital asset transaction facilitator thats under sanctions.

In October, the Treasury sanctioned a Gaza-based crypto operator with alleged ties to Hamas.

In 2023, Kazakhstans Financial Monitoring Agency (FMA) blocked access to almost a thousand crypto exchanges serving the countrys citizens without proper registration.

According to a Dec. 7 press release published on the governments website, the FMA denied access to 980 illegal platforms in 2023. It also launched nine investigations into illegal exchange operations and money laundering.

The Digital Assets Law, enacted in February 2023, prohibits creating and trading digital currencies and cryptocurrency exchange activities unless a national license is obtained.

The list of unlicensed exchanges blocked includes some major international platforms. In November, it was revealed that Kazakh citizens could not access the Coinbase website after an order from the Ministry of Culture and Information blocked it.

To date, Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit and Xignal&MT have been approved to operate in the country.

Binance founder CZ has been ordered to stay in the United States until his sentencing in February, with a federal judge determining theres too much of a flight risk if the former exchange CEO is allowed to return to the United Arab Emirates.

On Dec. 7, Seattle District Court Judge Richard Jones ordered Zhao to stay in the U.S. until his Feb. 23, 2024 sentencing date.

The defendant has enormous wealth and property abroad, and no ties to the United States, Judge Jones wrote, agreeing with earlier arguments from federal prosecutors who said they would not be able to secure his return if Zhao decided not to return to the United States.

His family resides in the UAE and it appears that he has favored status in the UAE. Under these circumstances the Court finds that the defendant has not established by clear and convincing evidence that he is not likely to flee if he returns to the UAE, Judge Jones added.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

View post:

Here's what happened in crypto today - Cointelegraph

Argentinas government will offer a flexible tax rate and legitimize the usage of cryptocurrency assets within the country, irrespective of location or origin.

President of Argentina Javier Milei proposed the bill as part of a broader set of economic and political reforms. The crypto community has responded positively to Mileis election in November, given his endorsement of Bitcoin (BTC) during his campaign. However, the bill, which includes numerous reforms, has quickly sparked controversy and protests since its introduction on Tuesday.

Under the proposed framework, cryptocurrencies and various assets, from liquid cash to real estate, fall under a new regularization plan. This plan offers incentives for early disclosure of such assets. Specifically, Argentinians declaring their cryptocurrency assets by March 31 will benefit from a low tax rate of 5%. This rate, however, will escalate up to 15% by Nov. 30.

This move comes after the Argentine governments earlier decision to recognize Bitcoin for contractual agreements. Diana Modino, Argentinas Minister of Foreign Relations and International Commerce, announced this month that Bitcoin and other digital currencies are now considered valid for legal contracts nationwide.

See the rest here:

Argentinan president advocates for cryptocurrency declaration in reform bill - crypto.news

The bounceback of Bitcoin and its fellow digital assets was a major storyline in 2023, leading many to wonder: Is the crypto winter over?

Indeed, the trial of former FTX CEO and co-founder Sam Bankman-Fried, the head of the collapsed cryptocurrency exchange, drew plenty of attention to the digital asset space.

At one point, FTX had a value of more than $32 billion. However, by November 2022, FTX had collapsed, and a month later, Bankman-Fried was arrested in the Bahamas, charged with seven counts of wire fraud, securities fraud, and money laundering, and extradited to the U.S. to face his charges.

Be a smarter, better informed investor.

Save up to 74%

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

On November 2, 2023, a federal jury in a Manhattan courthouse found Bankman-Fried guilty on all seven counts. The former crypto icon faces up to 110 years in prison. His sentencing is scheduled for March 28, 2024.

"It's a warning, this case, to every single fraudster out there who thinks that they're untouchable or that their crimes are too complex for us to catch or that they're too powerful for us to prosecute or that they could try to talk their way out of it when they get caught," said Damian Williams, the U.S. attorney for the Southern District of New York, as reported by NBC News. "Those folks should think again."

In the lead-up to FTX's collapse, cryptocurrencies were in high demand on Wall Street, with Bitcoin hitting an all-time high of $68,569 in November 2021. Shortly after that, demand fell off a cliff and prices plummeted. And in late 2021 or early 2022, what is described as a "crypto winter" began.

A crypto winter is loosely defined as an extended period when cryptocurrency prices move lower, combined with a decrease in overall trading volume. They can last months or even years. In that regard, they're not unlike bear markets for stocks.

Unlike a recession, customarily defined by economists as two consecutive quarters of negative GDP (gross domestic product), cryptocurrencies have no specific definition. Therefore, every person's idea of when and what constitutes a crypto winter differs.

The first crypto winter began in February 2011 when Bitcoin dropped by 40% from $1.06 to 67 cents. The next one didn't happen until 2014, when the price of Bitcoin dropped from a high of more than $1,200 entering the year to a low of $180 by January 2015.

However, the term crypto winter only came into common usage in 2018, after 2017's big run from $900 to $20,000, a 2,122% gain over 12 months, to fall back to $3,180 by December 2018.

During 2017's irrational exuberance, publicly traded mainstream companies were changing their names to include the words blockchain or crypto, while others completely pivoted their business models to catch the crypto craze, similar to what occurred during the dot-com bubble in late 1999 and early 2000.

The most recent crypto winter occurred over 13 months, from the all-time Bitcoin high of $68,569 in November 2021 to a December 2022 bottom of below $17,000, a 75% decline.

In the most recent crypto winter in 2022, rampant inflation from a post-pandemic world required the Federal Reserve to raise interest rates to dampen the economy, slowing demand and lowering prices.

It began raising the federal funds rate in March 2022, ultimately boosting the federal funds rate 11 times through July 2023, from 0.25%-0.50% to 5.25% to 5.5%%, the highest level in 22 years.

As a result, investors sold their risk-on assets such as crypto and stock, sending prices of both much lower by the end of 2022. It didn't help crypto prices that two cryptocurrencies, Luna and TerraUSD, collapsed in May 2022, followed by bankruptcies by crypto lenders Voyager Digital and Celsius Network. And FTX's bankruptcy in November 2022 put the nail in the proverbial coffin.

Like stocks, crypto winters are often (but not always) caused by bad news, whether self-inflicted wounds such as a security breach or hack, reduced interest from institutional investors, unsettling economic news such as what happened in 2022, or increased regulatory overview.

Over the long haul, these are all signs of a healthy marketplace that adjusts to current market, economic, and regulatory conditions.

With Bankman-Fried set to go to prison for a long time in the first half of 2024, the industry can finally look ahead rather than in the rearview mirror.

Positive signs that the latest crypto winter could be over include Bitcoin gaining roughly 150% in 2023, higher weekly inflows of crypto investment funds much like how you'd look at mutual fund and ETF net inflows and outflows and institutional money getting back into the crypto space by offering mainstream digital assets from the likes of BlackRock, Mastercard, etc.

However, some crypto industry professionals suggest that the latest crypto winter won't be over until spot Bitcoin ETFs and spot Ethereum ETFs are approved for sale in the U.S. markets.

"That's the floodgate for large portfolios to allocate 50 basis points of their holdings to Bitcoin," said Greg Magadini, director of derivatives at Amberdata, as reported by Decrypt. "To me, that would be the catalyst to essentially open up ... the end of crypto winter."

Just as there is no specific definition of a crypto winter, there is no rule to indicate when one has ended. As a relatively new asset class, that comes with the territory.

Continued here:

Is the Crypto Winter Over? - Kiplinger's Personal Finance

Internet Computer (ICP) is currently one of the best-performing cryptocurrencies in the market. The token has rallied by 14.9% in the last 24 hours, over 73% in the weekly charts, and over 204% in the previous month. Moreover, ICP has overtaken Shiba Inus (SHIB) market cap and is currently the 16th largest crypto project.

According to CoinMarketCap data, ICPs market cap has surged by 14.48%, while its 24-hour trade volume has risen by over 102%.

Also read: Top 3 Cryptocurrencies Under $2 That Could Reach $25 in 2024

Crypto analysis firm Santiment notes that currently, long positions dominate ICPs open interest. The firm further stated that if FOMO (Fear Of Missing Out) stays away, the cryptocurrency could continue to rise.

ICP had a lackluster performance for most of 2023, and the asset only began to rally in mid-December.

According to a recent post by Santiment, ICP was among the top coins in terms of development activity. The surge in developmental activities may be behind the latest price spike for the cryptocurrency.

Despite the recent gains, there is a chance that ICP will face a downward correction. According to Santiment, the cryptocurrencys Relative Strength Index (RSI) surged from 66 on Dec. 30, 2023 to 76.7 on Jan. 3, 2024. For ICP to continue its bullish momentum, it requires its RSI to remain below 65.

Also Read: Top 3 Cryptocurrencies Under $1 That May Explode in 2024

However, there is also a possibility that the project continues to surge in terms of developmental activity, thereby continuing its bullish momentum. Moreover, the asset is down by over 97% from its all-time high of $700.65, which it attained in May 2021, over two years ago. Hence, there is still a lot of room for growth.

See the original post here:

This Cryptocurrency Rallied 200% And Overtook Shiba Inu - Watcher Guru

Vladimir Vladimirov

Cryptocurrency-focused stocks are on the rise after Bitcoin (BTC-USD) reaches its highest levels since April 2022.

On Tuesday, Bitcoin (BTC-USD) surged to a peak of $45.5K, reflecting an almost 7% increase.

The anticipation of the U.S. Securities and Exchange Commission granting approval for a spot Bitcoin ETF as early as January 10 is fueling this rally.

Notably, Coinbase (NASDAQ:COIN) shares rose by 3%, MicroStrategy (NASDAQ:MSTR) saw an 8% increase, Riot Platforms (NASDAQ:RIOT) surged by 9%, CleanSpark (NASDAQ:CLSK) climbed by 11%, and Marathon Digital (NASDAQ:MARA) soared by over 12%, respectively. Additionally, Bitfarms (NASDAQ:BITF) witnessed a notable 11% increase, HIVE Digital (NASDAQ:HIVE) rose by 12%, TeraWulf (NASDAQ:WULF) jumped by 17%, and Bit Digital (NASDAQ:BTBT) recorded a 9.7% gain.

Concurrently, other major cryptocurrencies are also seeing positive movement, with Ethereum (ETH-USD), the leading altcoin by market cap, rising by 4% to $2.4K, followed by a 3% growth in Dogecoin USD (DOGE-USD).

Read more from the original source:

Cryptocurrency-linked stocks rally as Bitcoin surpasses the $45K milestone - Seeking Alpha

Investing.com - XRP was trading at $0.51772 by 07:10 (12:10 GMT) on the Investing.com Index on Wednesday, down 18.06% on the day. It was the largest one-day percentage loss since November 9, 2022.

The move downwards pushed XRP's market cap down to $33.46332B, or 1.98% of the total cryptocurrency market cap. At its highest, XRP's market cap was $83.44071B.

XRP had traded in a range of $0.51772 to $0.63917 in the previous twenty-four hours.

Over the past seven days, XRP has seen a stagnation in value, as it only moved 1.52%. The volume of XRP traded in the twenty-four hours to time of writing was $1.40463B or 1.92% of the total volume of all cryptocurrencies. It has traded in a range of $0.5177 to $0.6569 in the past 7 days.

At its current price, XRP is still down 84.26% from its all-time high of $3.29 set on January 4, 2018.

Bitcoin was last at $40,888.3 on the Investing.com Index, down 6.59% on the day.

Ethereum was trading at $2,127.25 on the Investing.com Index, a loss of 7.56%.

Bitcoin's market cap was last at $857.41562B or 50.80% of the total cryptocurrency market cap, while Ethereum's market cap totaled $277.61190B or 16.45% of the total cryptocurrency market value.

Visit link:

XRP Falls 18% In Selloff By Investing.com - Investing.com

In a significant move by the Directorate of Enforcement (ED), Nitin Gaur, the brother-in-law of Ajay Bhardwaj, has been arrested in connection with a massive cryptocurrency scam.

This arrest is part of an ongoing investigation into a Rs 6,606 crore fraud involving M/s Variable Tech Pte Ltd and its promoters, known for the GainBitcoin Ponzi scheme.

Crucial Steps in Money Laundering Probe

The EDs action, falling under the Prevention of Money Laundering Act (PMLA), comes after a series of FIRs filed by Maharashtra Police and Delhi Police.

These complaints have unraveled a sophisticated scheme, where investors were allegedly duped of large Bitcoin sums, with promises of high monthly returns.

The funds, supposedly for Bitcoin mining operations, were misused, with the perpetrators accused of hiding these assets in untraceable online wallets.

Moreover, the EDs investigation has revealed Nitin Gaurs active role in this elaborate scam. He is accused of receiving and concealing criminal proceeds in his cryptocurrency account on Binance, linked to Ajay Bhardwajs wallet.

Following a search operation at Gaurs residence on December 29, he was brought to Mumbai and presented before the PMLA Special Judge, with custody granted until January 6, 2024.

This development marks a critical phase in the investigation, as the ED also targets hawala operators and crypto traders linked to the scam.

With properties worth Rs 69 crore already attached and the main accused still at large, the case continues to unfold, showcasing the EDs commitment to combating financial crimes in the burgeoning digital currency space.

Also Read: Indian Regulators Freeze Rs 3.4 Crore in Morris Coin Crypto Case

Read more:

ED arrests Nitin Gaur in Rs 6,606 crore cryptocurrency scam - Crypto Times

Investing.com - Cardano was trading at $0.5187 by 07:14 (12:14 GMT) on the Investing.com Index on Wednesday, down 17.04% on the day. It was the largest one-day percentage loss since May 11, 2022.

The move downwards pushed Cardano's market cap down to $21.1343B, or 1.25% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $94.8001B.

Cardano had traded in a range of $0.5013 to $0.6185 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a drop in value, as it lost 2.32%. The volume of Cardano traded in the twenty-four hours to time of writing was $558.4998M or 0.76% of the total volume of all cryptocurrencies. It has traded in a range of $0.5013 to $0.6760 in the past 7 days.

At its current price, Cardano is still down 83.26% from its all-time high of $3.10 set on September 2, 2021.

Bitcoin was last at $41,629.2 on the Investing.com Index, down 6.59% on the day.

Ethereum was trading at $2,163.69 on the Investing.com Index, a loss of 7.56%.

Bitcoin's market cap was last at $857.4156B or 50.80% of the total cryptocurrency market cap, while Ethereum's market cap totaled $277.6119B or 16.45% of the total cryptocurrency market value.

Follow this link:

Cardano Falls 17% In Bearish Trade By Investing.com - Investing.com

Crypto platform Orbit Chain said it is working with the Korean National Police Agency and Korea Internet & Security Agency (KISA) to address a cyberattack that led to the theft of more than $81 million worth of cryptocurrency.

On the night of New Year's Eve, Orbit Chain confirmed that they began to see unauthorized transactions on their platform involving several cryptocurrencies including U.S.-dollar-pegged coins USDC and USDT as well as ETH and others.

Orbit Chains platform supports communication between different blockchain networks. The company hired blockchain security company ChainLight to lead the investigation.

Other blockchain research companies, including CertiK and PeckShield, pegged the losses at around $81.5 million, with $30 million taken in USDT and $10 million in USDC.

Orbit Chain team has developed a system for investigation support and cause analysis with the Korean National Police Agency and KISA (Korea Internet & Security Agency), enabling a more proactive and comprehensive investigation approach. Furthermore, we are also discussing close cooperation with domestic and foreign law enforcement agencies, they said in a notice on Tuesday.

In order to resolve this issue, the Orbit Chain team will utilize all available methods to track down the hackers and recover the funds. We sincerely request that all members of the Orbit Chain community and the Web3 ecosystem help spread this information as widely as possible.

They asked other global cryptocurrency exchanges to freeze the stolen assets and warned customers to be wary of scams related to potential repayment of lost funds.

The company noted that it has tried to communicate with the attackers, sending them multiple messages on Monday. It is unclear if the hackers have responded, and the company did not respond to requests for comment about their communications with those behind the incident.

Orbit Chain, which is based in South Korea, added that it is looking into the possibility that the attack was launched by hackers based in North Korea whose government has been implicated in dozens of the largest crypto thefts over the last three years.

PeckShield noted that including the funds stolen from Orbit Chain, nearly $100 million was taken from crypto platforms in December 2023.

U.S. officials say North Korean hackers have stolen over $2 billion worth of cryptocurrency to help fund the North Korean governments activities including its weapons of mass destruction and ballistic missile programs.

Recorded Future

Intelligence Cloud.

No previous article

No new articles

Jonathan Greig is a Breaking News Reporter at Recorded Future News. Jonathan has worked across the globe as a journalist since 2014. Before moving back to New York City, he worked for news outlets in South Africa, Jordan and Cambodia. He previously covered cybersecurity at ZDNet and TechRepublic.

Originally posted here:

Korean National Police Agency investigating $81 million crypto theft from Orbit Chain - The Record from Recorded Future News

Cryptocurrency payments offer small businesses a strategic avenue for growth. This article provides essential tips to navigate the complexities of adoption, empowering businesses with insights for cost-effective transactions and global expansion. Join us on this exploration of the unique opportunities presented by integrating digital currencies into small business operations.

Before venturing into the realm of cryptocurrencies, its imperative to gain a comprehensive understanding of the underlying technology and the diverse range of cryptocurrencies available. Equip yourself and your team with knowledge about blockchain, smart contracts, and popular cryptocurrencies like Bitcoin and Ethereum. This foundational knowledge will serve as a solid basis for informed decision-making.

Selecting a trustworthy cryptocurrency payment processor is paramount. These processors act as intermediaries, facilitating smooth transactions by converting cryptocurrencies into traditional fiat currency. Options like BitPay, CoinGate, and Coinify offer user-friendly solutions tailored for businesses of all sizes, providing seamless integration for both online and physical store transactions.

While Bitcoin is the poster child of cryptocurrencies, consider diversifying the range of cryptocurrencies your business accepts. Embrace popular altcoins and stablecoins to cater to a broader audience. This not only expands your potential customer base but also helps mitigate risks associated with the volatility of specific cryptocurrencies.

Security should be a top priority in the world of cryptocurrency. Implementing strong security measures, including encryption, secure wallets, and two-factor authentication, is non-negotiable. Regularly update your software, conduct security audits, and educate your staff on recognizing and preventing potential security threats.

Cryptocurrency adoption is a collaborative effort. Educate your customers about the benefits of paying with cryptocurrencies, such as lower transaction fees, faster transactions, and increased privacy. Providing educational materials on your website, in-store, or through social media channels can demystify the process for your clientele.

Rather than diving headfirst into cryptocurrency payments, consider starting with a small-scale implementation. Begin by accepting one or two popular cryptocurrencies and gradually scale your operations based on customer response and operational efficiency. This phased approach allows you to identify and address challenges before full-scale implementation.

Cryptocurrency regulations vary across jurisdictions. Stay abreast of the legal landscape regarding cryptocurrency transactions in your region. Compliance with local laws and regulations is crucial for the sustained success of cryptocurrency adoption. Engage with legal experts to navigate this evolving regulatory environment.

Encourage customers to use cryptocurrencies by offering incentives such as discounts, loyalty programs, or exclusive deals for crypto transactions. Incentives can be a powerful motivator for both customers and businesses to embrace the advantages of digital currencies.

The cryptocurrency space is dynamic and continually evolving. Stay informed about technological advancements and industry trends. Regularly assess and upgrade your payment systems to incorporate the latest technologies, ensuring your business remains at the forefront of innovation.

If navigating the complexities of cryptocurrency adoption seems daunting, consider seeking professional guidance. Engage with consultants or advisors experienced in cryptocurrency adoption for businesses. Their insights can streamline the process and provide tailored recommendations based on your business model and objectives.

The adoption of cryptocurrency payments represents a strategic move for small businesses looking to embrace the future of finance. By educating yourself and your team, choosing reliable payment processors, prioritizing security, and fostering customer education, you can successfully integrate cryptocurrencies into your business operations. With careful planning and strategic implementation, small businesses can harness the benefits of this transformative financial technology, paving the way for growth, innovation, and increased resilience in the digital economy

Join our WhatsApp and Telegram Community to Get Regular Top Tech Updates

See original here:

Tips for Small Businesses Adopting Cryptocurrency Payments - Analytics Insight

Bitcoin SV, BitTorrent, and Internet Computer topped todays cryptocurrency charts with impressive gains.

Bitcoin SV (BSV), a hard fork token from Bitcoin, has climbed 30% today and over 80% in the past week. This remarkable growth in BSVs value is largely attributed to heightened activity from Korean traders. A significant increase in trading volume on Upbit, South Koreas largest crypto exchange, has been a key driver.

Statistics show Bitcoin SVs trading volume on Upbit reaching a dominant 66.8%, with a value exceeding $503 million. This trading frenzy has propelled Bitcoin SVs market cap to $1.7 billion, with an overall trading volume soaring to $753.5 million.

Last night when I went to bed BSV went up from $50 to $52. I actually dreamed that it went up to $60. Then woke up to find it did!
This is the highest BSV has been since May 2022! pic.twitter.com/uEDhZdP4gg

— Randy ??? ?2??0??2??4?? ?????????? (@Bitc01nSV2024) December 27, 2023

The BitTorrent (BTT) token has recorded an 8% increase today. This uptick is linked to the growing trading volume within the Tron network, which has recently witnessed nearly $1 billion in trading activity over 24 hours. The rise in BitTorrent tokens value over the past month indicates a growing interest in decentralized file-sharing platforms and their associated cryptocurrencies.

Surprisingly, AI token Internet Computer (ICP) has made significant daily gains. The token, aiming to revolutionize web decentralization, has also seen a nearly 10% increase in its value today.

As a decentralized platform, ICP is designed to enable secure, trustless, and rapid network operations, appealing to a wide user base. ICP serves as the networks operational currency, facilitating development fees for programmers and governance tools to ensure network stability.

See the rest here:

Bitcoin SV surges 30%, BTT and ICP emerge as top cryptocurrency gainers - crypto.news

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing Rights

WASHINGTON, Dec 5 (Reuters) - The cryptocurrency industry was on track to hit a new record for federal lobbying spending, after a year in which firms scrambled to repair their reputations and advance friendly legislation, according to data provided to Reuters by nonprofit research group OpenSecrets.

Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year's spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Last year, companies including FTX spent nearly $22 million on lobbying in total.

Coinbase (COIN.O), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates Crypto.com, the Blockchain Association and Binance Holdings.

Our goal is to engage directly with policymakers, build relationships and bridge the education gap to build a commonsense regulatory framework," said Kristin Smith, CEO of the Blockchain Association, in a statement.

Crypto companies have been expanding in Washington, in part to try to mend their reputations following a string of scandals last year, including the collapse of FTX, whose former CEO Sam Bankman-Fried had been a familiar presence in Washington. He was found guilty of fraud last month by a jury in a Manhattan federal court.

Crypto firms have also been trying to combat growing regulatory scrutiny, especially from the U.S. Securities and Exchange Commission which says the industry has been flouting its rules. Lobbying escalated after the SEC sued Coinbase and Binance in June for allegedly failing to register tokens, claims they deny.

The industry has also been pushing the SEC to approve a spot bitcoin exchange-traded fund (ETF), which would open up the world's largest cryptocurrency to millions more investors. Optimism that the agency will green-light the product after losing to a key court on the matter in the summer helped drive bitcoin to a 20-month high on Monday.

Crypto companies have also been trying to advance friendly legislation in the House of Representatives and scored a victory in July when a congressional committee in that chamber passed two major bills that lobbyists say would help provide clarity over which existing financial rules apply to crypto companies.

Although those bills have yet to advance further, crypto lobbyists are not letting up. Coinbase, which in September launched a grassroots advocacy campaign, is continuing its push with more lawmaker meetings in coming weeks, a spokesperson said.

Binance and Crypto.com did not respond to requests for comment.

Reporting by Hannah Lang in Washington; Editing by Michelle Price and Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

Hannah Lang covers financial technology and cryptocurrency, including the businesses that drive the industry and policy developments that govern the sector. Hannah previously worked at American Banker where she covered bank regulation and the Federal Reserve. She graduated from the University of Maryland, College Park and lives in Washington, DC.

Continue reading here:

US crypto industry lobby spending on track for new record in 2023 - Reuters

The year 2022 has been very tough for all the cryptocurrencies including Bitcoin and Ethereum and also for crypto enthusiasts. The largest cryptocurrency in the world, BTC has lost approximately 65% of its market value in the entire last year. Crypto enthusiasts were caught off guard by a series of unpredictable events such as the Terra Luna crash, FTX fall, macroeconomic conditions and Binance guilty plea.

The start of this year 2023 was strong for the cryptocurrencies as the crypto world was showing signs of recovery. Bitcoin even rose an average of 0.39 in the month of July at around $31,000. The crypto world is showing immense recovery as of Oct., Nov. and Dec. has BTC rising at good levels. As of Nov. 05, 2023, BTC is at $41,772, market capitalization at $817.02. billion and market volume at $37.35 billion. Bitcoin rises high as expected.

Featured Partner

Welcome Bonus On First Deposit:

Get $30 in your verified trading account on your first deposit.

Variety:

Trade CFDs in crypto, forex, stocks, metals, commodities & more!

Intuitive & Cheap:

Designed for traders of all levels, from beginners to professionals.

Grow Your Passive Income

250+ cryptoassets available

Why Uphold

Just $1 minimum deposit

Fees

Enjoy 0% bank deposit & withdrawal fees*

Please invest carefully, your capital is at risk

Post the psychological threshold of the $31,000 mark, Bitcoin has yet again started showing a bearish trend and trading below $30K levels. The worlds largest cryptocurrency, BTC, which was on the path of recovery had added on up to the monthly benefit of almost 15%, according to the latest charts retrieved by CoinMarketCap and is now trading at its highest level since May 2022 at $41,754.

BTC seems under slim pressure as inflation continues to be a crucial issue in emerging economies such as the U.S. and the UK, and as anticipated the U.S. Federal Reserve hiked the interest rates with a 25-basis point to tackle inflation issues. As per experts, the major resistance is seen near the $29,800 level and the next major resistance is at the $30,400 level.

This is not the first time that BTC is under pressure. Bitcoin had seen a major fall that pushed the cryptocurrency below the $26,000 level, a three-month low, when the U.S. Securities and Exchange Commission sued one of the leading cryptocurrency exchanges in the world, Binance and its founder and chief executive officer, Changpeng Zhao (CZ).

The SEC blamed crypto exchange Binance for creating separate entities as Binance.com and Binance US, as segments of an elaborate scheme to evade U.S. federal securities laws. It has also alleged that a firm owned by its founder CZ, had been involved in artificially growing the trading volume of crypto assets, listed on its Binance U.S. platform.

Cryptocurrency experts believe that if BTC sticks to its level of $30,000, then it could bounce back likely from here and now is leading at $41,737 as of Dec. 05, 2023.

In April 2023, the top cryptocurrency Bitcoin touched the key resistance of $30,000 level, for the first time since June 10, 2022 and then started dipping below till $26,000 level and now hassupremely raised at $41,737 after May 2022. Crypto experts believe Bitcoin must stick to the $31,000 level and more to touch the level of $60,000 by the end of the year 2023.

However, the recovery path is lengthy, as BTC is still down almost 40%, from its all-time high. At the start of the year, Bitcoin plunged below the level of $20,000. But due factors such as the deepening banking crisis in the U.S., the weakening of the dollar index and cooling inflation have been able to bring back Bitcoin and other digital currencies to lead the path of resistance. So, it is not wrong to say that the recent U.S. financial crisis has increased the appetite for cryptocurrencies.

While the future of Bitcoin is unknown, retail investors are required to be very cautious about each and every move of Bitcoin, as it has been a tumultuous year for Bitcoin. Bitcoiners should not forget the fact that the currency is still trading low at almost 40% from its all-time high. The reason behind this volatility can be attributed to the macroeconomic conditions in countries including the U.S. and the UK.

Moreover, Indias stance on cryptocurrencies continues to be firm with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act. In a specific gazette notification, the Union Finance Ministry of India stated that all the transactions related to digital assets or virtual currency would fall under the purview of the Prevention of Money Laundering Act (PMLA).

On the face of it, the new development may appear damaging to the cryptocurrency community in India. On the ground, the move has been praised by the industry at large as this is a step towards regulating this space, where in the absence of regulators, the enforcement agencies will straight up take recourse to any discrepancies.

One of the other reasons why crypto experts are hopeful about Bitcoin is that, in the coming year 2024, will be a year for Bitcoins halving event. The Bitcoin halving event happens every four years in which BTC rewards to its miners are cut by 50%, (the miners payout will be reduced to 3.125 BTC). This event is usually viewed as positive for Bitcoins price, as it helps in contracting supply. Historically, halving has been seen as a great sign for bringing momentum to Bitcoins price.

Bitcoin Halving History

In the above table, we can see that past Bitcoin halving events have been able to establish long-term bullish drivers for Bitcoins price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC, being a decentralized cryptocurrency, cant be printed by any central banks or governments and thus Bitcoins total supply is limited.

Moreover, Bitcoin Whales, large investors have started accumulating Bitcoin once again. According to data from on-chain aggregator Santiment, the large Bitcoin whales are holding a range from 1,000-10,000 BTC in their wallets, showcasing that investors have been filling up their wallets with a lot of Bitcoins, which might reflect recovery signs in the price of Bitcoin.

We all are aware that Bitcoin has rallied 80% plus more since the start of this year. With massive and unanticipated gains, it has surely surpassed several other major assets and set huge returns for those who have bought Bitcoin at dips.

The crypto industry is excited to witness the new peak of BTC and hoping for more. Marshall Beard, chief strategy officer at crypto exchange Gemini, believes Bitcoin to break its all-time highs this year. He even said, $100,000 price figure is an interesting number if bitcoin gets to its previous record high of near $69,000.

If Bitcoin really happens to touch this magical figure, then it has to showcase an upside of 270% to reach at $1 lakh level.

Paolo Ardoino, chief technology officer at Tether also has a positive view on Bitcoin. He said BTC could retest its all-time high of around $69,000.

Nonetheless, the year 2023 seems to be a decent year for Bitcoin advocates, who always tend to consider it as a digital gold or safe-haven investment that can offer traders attractive returns in times of mayhem. It was a major boost for BTC in hopes that the U.S. Federal Reserves might reduce the chances of more aggressively increasing interest rates.

Bitcoin enthusiasts always have too positive and at times not possible predictions for their favorite cryptocurrency. And, after this mini-bull run, many discussions are happening around the worlds largest digital coin, BTC, the crypto coin could even witness a level of $10 lakh by 2025.

This hypothetical and notable figure of $10 lakh has been rolled by several well-known personalities in the crypto world. Recently, Standard Chartered, one of the leading British Multinational Banks raised its prediction price for the BTC ranging from $1,00,000 to $1,20,000 by the end of the year 2024 in one of its most recent research reports citing more profit to BTC miners. The MNC bank forecast BTC to reach $50,000 by the end of this current year.

The Chinese-Canadian Bitcoin entrepreneur and CEO of crypto firm, JAN3, Samson Mow, believes that the cryptocurrency will reach $1 million in the next five years. With several such wild guesses, Balaji Srinivasan, an investor and the former technology chief at Coinbase, took a bet that BTC could reach $10 lakh or more in just 90 days.

Srinivasan made this strong statement by merely believing that as the world goes into the stage of hyperinflation, the value of the dollar will get weak due to which the people will start buying more and more BTC. The term Hyperinflation means an extreme increase in the price of goods and services over a period of time.

On the other hand, cryptocurrency experts believe BTC might touch $10 lakh in the coming years, but not that soon and predicting this level in the year 2023 or in just 90 days is just not possible.

Marshall Beard stated Bitcoin to be a million dollars in 90 days, some crazy things are happening in the world, which we dont want, he said, however, that it might take 10 years to reach anywhere close to this extreme prediction.

(The Bearish View)

There are different sets of investors too, large institutions and corporates who hold an opposite view (bearish) on Bitcoin and have a strong opinion that Bitcoin might fall shortly. They believe that this rally is a major bull trap rather than a bull run. Global investor, Mark Mobius, the billionaire founder of Mobius Capital Partners, predicted a huge fall in 2022 and even said that Bitcoin can go down to the $10,000 range.

The same is predicted by another investor, Matthew Sigel, head of digital assets research at VanEck, a global investment manager who sees BTC drop to $12,000 levels, mentioning higher energy prices.

On the other hand, global bank Standard Chartereds prediction on Bitcoin is super surprising. They predicted that BTC would fall to $5,000 levels in the current year 2023.

Crypto experts believe that the rising hikes and tighter monetary policy will not allow BTC to rebound sharply in the coming future. As in this kind of unpredicted market, traders will not choose to invest or buy risky assets like Bitcoin. And, those investors who have been holding BTC, might sell it, creating undue pressure on the crypto markets again.

Featured Partner

Welcome Bonus On First Deposit:

Get $30 in your verified trading account on your first deposit.

Variety:

Trade CFDs in crypto, forex, stocks, metals, commodities & more!

Intuitive & Cheap:

Designed for traders of all levels, from beginners to professionals.

Grow Your Passive Income

250+ cryptoassets available

Why Uphold

Just $1 minimum deposit

Fees

Enjoy 0% bank deposit & withdrawal fees*

Among the myriad predictions on Bitcoin, the bottom line remains that Bitcoin has seen several downfalls and has emerged stronger than before each time. Its resilient nature instills a belief of sorts in the minds of crypto enthusiasts who find value in investing in decentralized currencies. Whether Bitcoin soars higher or turns to dust is something only time can tell, and trading Bitcoin should be done with full awareness your investment will not necessarily give you the anticipated returns.

Read more:

Bitcoin Price Prediction: Can Bitcoin Reach $1000000 by 2025? Forbes Advisor INDIA - Forbes

Key Takeaways

A group of cryptocurrency-focused stocks have racked up notable price surges in the last year, handily outpacing the growth of the "Magnificent 7," a collection of widely held leading technology firms.

The tech giants have been credited with lifting the markets this year, particularly by capitalizing on growing interest in generative artificial intelligence (AI) and large language models (LLMs). However, the resurgence in cryptocurrency has fueled some of the fastest-growing stock prices amid renewed hope that a bitcoin exchange-traded fund will be approved.

Bitcoin mining and infrastructure company Riot Platforms Inc. (RIOT) has seen its shares skyrocket 364% in the year, while virtual currency exchange Coinbase Global's (COIN) stock has climbed 325% in the same time frame. Blockchain ecosystem and crypto mining company Marathon Digital Holdings Inc. (MARA) has surged by 378%. MicroStrategy Inc. (MSTR), a cloud services and mobile software company that has invested heavily in Bitcoin in recent years, is up 306%.

Investopedia

Key to the crypto-firm rally has been a broader increase in cryptocurrency prices in the last year. Bitcoin was trading at around $44,000 on Friday, up from below $17,000 at the start of the year.

Crypto skeptics had entered short positions against firms like Riot Platforms and Marathon Digital. These companies' stocks may have rallied both because of investors forced to buy to cover as well as new long positions from investors hoping to capitalize on the hot crypto market.

The Magnificent 7 comprises some of the largest mega-cap tech firms: Apple Inc. (AAPL), Amazon.com Inc. (AMZN), Microsoft Corp. (MSFT), Meta Platforms Inc. (META), Google parent Alphabet Inc. (GOOGL), Tesla Inc. (TSLA), and Nvidia Corp. (NVDA).

These companies, with already massive valuations, have experienced surging share prices in the past 12 months after declines throughout 2022. Still, none of the Magnificent 7 stocks have matched the performance of the four crypto-focused firms.

The best-performing Magnificent 7 companies this year are Nvidia and Meta, which have risen by 232% and 164%, respectively. Generative artificial intelligence (AI) projects drove demand for Nvidia's graphics processing units (GPUs), tripling revenue year-over-year in the most recent quarter reported. Meta has outperformed analyst earnings expectations, trimmed costs, and raised guidance in recent quarters.

The Magnificent 7 largely comprises some of the largest companies in the world, so comparing it to smaller, more focused companies with much smaller market capitalizations can be tricky. However, the stock price often reflects demand and is less reliant on the size of companies.

While Nvidia and Meta come closest to the gains of the hottest-trading crypto companies, most other big-name tech stocks have produced rallies that seem paltry by comparison. Amazon has climbed by 71% in the last year, and Microsoft by 56%. The lowest-performing Magnificent 7 companies are Apple, with a 56% stock increase, and Google, rising 52% year-to-date.

See the original post here:

These 4 Crypto-Related Stocks Beat Magnificent 7 Tech Returns So Far This Year - Investopedia

As adoption of cryptocurrencies like Bitcoin and blockchain technology accelerates, oversight from financial authorities and governments worldwide intensifies in tandem. But in contrast to previous eras where regulators could often ignore crypto as a niche curiosity, today its integration into wider economic and financial systems demands serious policy attention.

In this comprehensive analysis, we will examine the rapidly evolving regulatory landscape for cryptocurrencies and blockchain-based applications across key jurisdictions in 2023 and beyond. Well explore likely policy priorities, points of contention, philosophical divides, and geopolitical implications that promise to shape oversight.

By reviewing existing proposals under consideration and case studies of previous regulatory actions, we can better understand the motivations, risks, and potential opportunities regulation presents for cryptocurrency as it graduates fully from the fringe into the mainstream.

The sheer growth in cryptocurrency use now requires regulators pay attention as adoption indicators explode:

Clearly cryptocurrency has progressed beyond obscurity into an asset class demanding oversight policy balancing risks as adoption permeates every sector. Avoidance is not pragmatic given irreversible momentum. The focus turns to forging solutions. Well examine regional priorities next.

Read more:

Navigating the Complex Cryptocurrency Regulatory Landscape Ahead in 2023 and 2024 - Medium

Source: AdobeStock

While United States federal policymakers look to implement cryptocurrency and blockchain regulations, state-led organizations are taking initiatives to ensure that policy focused on cryptocurrency and blockchain adoption pass within the U.S. This is important to consider given that federal U.S. policymakers continue to remain divided on policy focused on cryptocurrency and blockchain technology usage.

Dominic Folino, president of the Pennsylvania Blockchain Coalition a non-profit organization made up of blockchain allies, users and providers told Cryptonews that legislation isnt coming out of the United States Congress fast enough. Given this, States now have the opportunity to enact policies that may eventually be pushed to the federal level.

In order to drive state legislation, Folino explained that the Pennsylvania Blockchain Coalition joined forces with The U.S. Blockchain Coalition (USBC). USBC was created in June 2021, when thirty U.S. states initially came together to enable blockchain and crypto policies.

Arry Yu, chair of The Washington Technology Industry Association Cascadia Blockchain Council a founding member of USBC told Cryptonews that there are currently forty-six states within USBC that are working closely on crafting legislation. We aim to have all fifty states as part of this coalition in the next several weeks, said Yu.

Yu explained that USBC was created with the goal of driving and conducting policy analysis, development and advocacy around blockchain technology and cryptocurrency at the State level. She said:

Its important for states to drive advocacy and clarity, because the states are the best laboratories for democracy. We are far more nimble than the federal level. We are also closer to the ones that hold the mandate of the people, being hyperlocal and working at the grassroots level.

Yu further noted the importance of U.S. states working together to help enable legislation. Prior to USBC, we saw crypto-friendly states like Wyoming, Florida and Texas not communicating with each other, creating silos in legislation. This was no better than what we are currently seeing at the federal level. States working together enables the sharing of best practices to breed legislation that may pass within all states and even at a federal level, she remarked.

To put these points in perspective, Folino explained that the Pennsylvania Blockchain Coalition recently spoke with the Pennsylvania State legislature in regards to passing a bill similar to New Yorks BitLicense regulation. The BitLicense Bill grants permission for crypto companies to legally operate in the state of New York. This would make Pennsylvania pro-business when it comes to crypto companies planning to get started here, he said. Folino also mentioned that he has been in touch with a number of Pennsylvania House Representatives to help them understand the benefits around blockchain and cryptocurrency policies.

Mike Cabell, a legislator for the State of Pennsylvania, told Cryptonews that both USBC and the Pennsylvania Blockchain Coalition have served as fantastic resources for education and connecting with other State legislators to develop technology and digital asset policy. He said:

The biggest thing to keep in mind here is education. Ive been reading and learning about blockchain technology and cryptocurrency for years, but its very complex. These organizations have been helpful for educating my constituents and colleagues.

Ongoing industry education remains extremely important, as Cabell shared that he is currently working on introducing a Blockchain Basics Act within the State of Pennsylvania. This act will ensure that Pennsylvania has a regulatory structure that will encourage the industry and protect consumers, Cabell explained. While this bill is new to Pennsylvania, Cabell added that Pennsylvania has utilized policy from other pro-crypto and blockchain states to help craft the document.

While Pennsylvania is focused on driving business to the area, Yu mentioned that Washington State and the Cascadia region in general which includes Oregon, Washington and British Columbia remain driven on blockchain legislation. We want objectives in place to make the Pacific Northwest the best place to work and live, while embracing emerging technologies like blockchain. This involves using new technologies for things such as portable medical records, and a regional economic visa to help grow the workforce and make it easier for workers to move around the region, she explained.

Similar to the goals Yu described, Jaime Minor, chief advocate for the California Blockchain Advocacy Coalition an organization committed to educating legislators and regulators about blockchain technology and a USBC member told Cryptonews that she believes blockchain technology can solve problems lawmakers and their constituents are currently facing. Each state has unique problems and priorities based on their needs. The California Blockchain Advocacy Coalition looks forward to working with the legislature in 2024 on ways that blockchain technology can help streamline data, for instance, to clear backlogs that get in the way of building affordable housing, she said.

Samuel Armes, president of the Florida Blockchain Business Association a non-profit organization promoting blockchain and cryptocurrency innovation and a member of USBC further told Cryptonews that Florida has already passed a number of crypto-friendly bills with the help of USBC. He believes these pieces of legislation may even influence the federal government in the future. He said:

We currently have a Bitcoin Kiosk Bill, a Digital Gold Bill, and an Anti-SEC/Pro DAO Bill. We also have about 3-4 appropriations from the State that are pushing to fund different programs.

According to Cabell, there is a good chance that State level policy will eventually influence Federal policy. He said:

I think the best thing States can do currently is push common sense legislation and policy that will responsibly allow this industry to grow and thrive. Im hoping to reach out to Congress to let them know what is being accomplished and how policy from a Federal perspective can line up with these initiatives. We are testing everything in the States to get it right before we get Federal policy.

While blockchain and cryptocurrency innovation on a state level is notable, there are a number of challenges that may hamper adoption. For instance, Folino believes that a lack of education among state policymakers may result in delayed passing of legislation. State legislators have several committees trying to absorb information, but do not have robust staff like members of Congress. We also need to demonstrate that blockchain and cryptocurrency innovation is bipartisan, he said.

Echoing Folino, Minor believes that a large knowledge gap remains for state legislators. Legislators often equate blockchain technology with Sam Bankman-Fried and the collapse of FTX. Yet the potential for blockchain technology is infinite, she remarked. In order to solve this knowledge gap, Minor explained that much of the advocacy her organization does is around education and breaking down misconceptions associated with blockchain.

Armes pointed out that coordination is key to driving innovation in large states like Florida. However, he noted that Floridas multiple epicenters, each with their own draws and pulls, can often create internal competition. He said:

This makes an organized message sometimes much harder, as the pace in which Floridas web3 scene is growing is faster than can be politically organized. This is why we put a lot of effort into supporting local meetups around the state, to get the community plugged into the larger community.

Yet Armes believes that States ultimately provide a number of benefits when it comes to implementing crypto and blockchain legislation. States can be aggressive and push the boundaries on legislation, especially when congress is in a bipartisan deadlock, he said. Armes further noted that States can ban federal initiatives that would potentially harm the web3 and blockchain communities in those regions. For instance, we were able to ban central bank digital currencies in Florida, Armes said.

In addition to State accomplishments, Folino mentioned that overall USBC aims to draft legislation that will be adopted by each and every state. If we can come up with model legislation that applies for all state levels, then maybe this will help drive federal legislation.

Enter your email for our Free Daily Newsletter

A quick 3min read about today's crypto news!

Read more here:

US States Collaborate to Drive Blockchain and Cryptocurrency Adoption - Cryptonews

As the crypto market prepares for a potential bull run in 2024, several key narratives look set to shape the investment landscape.

The impending launch of a spot Bitcoin ETF, the continued evolution of Bitcoin mining, and the ever-present popularity of meme coins are all poised to drive significant growth in the market.

This article explores new cryptocurrencies that are well-positioned to capitalize on these trends and potentially outperform big hitters like Bitcoin and Ethereum.

The long-awaited approval of a spot Bitcoin ETF in the US is one of the most anticipated events in the crypto market.

A spot Bitcoin ETF would be backed by physical Bitcoin providing investors with direct exposure to the asset.

The potential approval of a spot Bitcoin ETF in the US has fueled speculation about its impact on BTCs price and the overall adoption of cryptocurrencies.

According to estimates from Galaxy Digital, the addressable market size of one of these ETFs could be a whopping $14 trillion after just one year.

Amid this anticipation, a new project called Bitcoin ETF Token (BTCETF) has emerged, aiming to capitalize on the buzz.

This ERC-20 token allows investors to speculate on an ETF launchs potential impacts on the market.

Bitcoin ETF Tokens whitepaper outlines ambitious plans to burn 25% of the total token supply in five stages based on developments in the ETF approval process.

Notably, the final 5% burn will only be activated when Bitcoin hits $100,000.

This burn mechanism is designed to incentivize investors to hold BTCETF long-term.

While BTCETF isnt directly affiliated with any ETF applicants, its clearly tapping into the buzz around one of these funds being approved.

Early investors can buy BTCETF tokens through the ongoing presale, which has now raised almost $3 million.

Visit Bitcoin ETF Token Presale

The growth of Bitcoin mining is another key narrative that could shape the crypto market in 2024.

Following last years crypto winter and the drop in mining profitability, many miners were forced to shut down their operations due to the high costs.

However, now that Bitcoins price has recovered, the sector is witnessing a wave of interest from investors.

With the ongoing advancements in mining technology and the availability of renewable energy sources, mining is becoming more efficient and environmentally friendly.

According to a Data Bridge Market Research report, the global crypto mining market could grow at a CAGR of 7.8% between now and 2029.

One new crypto project looking to take advantage of this growth is Bitcoin Minetrix (BTCMTX), which aims to provide a first-of-its-kind Stake-to-Mine platform for crypto investors.

By staking BTCMTX, Bitcoin Minetrixs native token, crypto users will receive mining credits which can then be exchanged for cloud mining power.

The Stake-to-Mine process requires no expensive hardware or technical expertise, making it accessible to anyone.

Users can even lock up their BTCMTX tokens in the staking pool and earn yields of 120% per year.

As the demand for Bitcoin mining services rises, particularly ahead of the 2024 halving event, Bitcoin Minetrix seems poised to capitalize on the opportunity.

Investors can buy BTCMTX tokens through the projects presale phase for $0.012 during the current stage.

Visit Bitcoin Minetrix Presale

The final narrative that could shape the crypto market in 2024 is the enduring popularity of meme coins, which have consistently captured the crypto communitys attention.

These coins often generate significant buzz and attract a passionate following even without use cases.

A prime example was Pepe (PEPE) earlier this year, which soared over 3,000% in a matter of days due to social media hype.

PEPEs surge proved once again what meme coins are capable of, prompting a wave of copycat tokens to emerge and attempt to match its gains.

However, one new token that seeks to carve out its own space in the meme coin market is Meme Kombat (MK), a gaming ecosystem built on the Ethereum blockchain.

In Meme Kombats ecosystem, users can watch AI-powered battles between iconic meme coin characters like Pepe the Frog and Wojak.

To enhance the experience, Meme Kombat also introduces a wagering system where users can bet on the outcome of battles using MK, the projects native token.

Complementing this wagering system is a staking mechanism that allows users to lock up their MK tokens and earn yields of 323% per year.

Meme Kombat is also in its presale phase, although early investors can buy MK tokens before their Uniswap debut for $0.225.

Visit Meme Kombat Presale

Disclaimer: The above article is sponsored content; its written by a third party. CryptoPotato doesnt endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

The project in the above article is not related to Bitcoin or to a Bitcoin ETF. Its a completely different token.

Readers are also advised to read CryptoPotatosfull disclaimer.

Original post:

Competing with Bitcoin and Ethereum: This New Cryptocurrency Fits the 2024 Bull Market Narrative - CryptoPotato