Memecoins

Largest BlackRock Bitcoin ETF RoaringKitty Fuels Meme Coins

Published

6 months ago

3 June, 2024

TokenTalk Staff

Largest BlackRock Bitcoin ETF RoaringKitty Fuels Meme Coins

Key takeaways

Blackrock’s IBIT has overtaken Grayscale’s GBTC as the largest Bitcoin ETF on the market.
President Joe Biden vetoed a bill that would have made it easier for traditional banks to serve as custodians of crypto assets on behalf of their customers.
Japanese crypto exchange DMM Bitcoin was hacked for approximately $308 million worth of bitcoin.
This week, all eyes are on meme coins, as infamous Reddit user Keith Gill returned to trading GameStop.

Bitcoin (BTC) briefly crossed $70,000 on Monday after spending most of last week below that mark. However, it was BlackRock’s iShares Bitcoin Trust (I BITE) which made headlines after the reversal of Grayscale Bitcoin Trust (GBTC) as the largest spot Bitcoin exchange-traded fund (ETF) in terms of assets.

Additionally, US President Joe Biden vetoed a crypto bill passed by both houses of Congress and a Japanese crypto exchange was hacked for over $300 million worth of bitcoin. Meanwhile, Keith Gill, the man behind the meme-stock frenzy in 2021, fueled a rally of certain meme coins with its latest bet.

Blackrock’s IBIT is now the largest Bitcoin ETF

Just over four months after it began trading on January 11, BlackRock’s Bitcoin ETF has become the largest Bitcoin Spot ETF by assets, surpassing Grayscale’s GBTC for the top spot. At the end of May, IBIT’s assets stood at $19.5 billion while GBTC’s assets stood at $19.385 billion.

GBTC is the oldest fund, with Bitcoin investments converted to ETFs when the U.S. Securities and Exchange Commission authorized spot Bitcoin ETFs earlier this year. At that time, GBTC’s assets exceeded $24 billion.

However, as soon as other comparable products began trading, investors withdrew large sums of money from GBTC, resulting in net outflows of approximately $17.9 billion since January 11. In contrast, BlackRock’s IBIT reported substantial inflows, bringing in approximately $16.6 billion. this year, according to Farside Investors.

The fee disparity between Grayscale’s ETF and other Bitcoin ETFs from Blackrock, Fidelity and others played a crucial role in the competition Grayscale’s fund faced. For example, GBTC charges a 1.5% fee, while IBIT incurs a 0.25% fee. In particular, gray levels plans to soon launch an alternative spot Bitcoin ETF offering with lower fees under the BTC ticker.

President Biden Vetoes Crypto Bill

President Biden, as expected, vetoed a bill to repeal the SEC’s special regulations for crypto asset custodians. This SEC policy could pose significant challenges to traditional financial companies seeking to offer cryptocurrency custody services.

The White House had previously signaled its intention to veto the legislation. In a statement, President Biden expressed a desire to establish a balanced regulatory framework for digital assets under the authority of existing regulatory agencies.

According to Axios, critics noted that the deadline for Congress to review the SEC’s procedural actions under the Administrative Procedure Act had expired, and they argued that the policy did not constitute a rule, a point disputed by the Government Accountability Office.

Professional banking organizations have urged the president to support removing the rule, saying it would make cryptocurrency custody services prohibitive for traditional financial firms, ultimately disadvantaging their customers.

This move by the Biden White House follows a perceived reversal in crypto policy when various ether spot ETF deposits were approved late last month by the SEC after assuming that a rejection of these financial products was imminent.

Former President Donald Trump also reversed his initial stance on bitcoin and other crypto assets, going so far as to make a campaign promise to free the operator of the online market Silk Road, Ross Ulbricht, from prison. Ulbricht is serving a life sentence for operating a platform where illegal drugs and other illicit items were purchased using Bitcoin.

Over $300 million stolen from Japanese crypto exchange

On Friday, Japanese crypto exchange DMM Bitcoin announced a hack or “unauthorized leak” in which 4,502.9 bitcoins, valued at approximately 48.2 million yen, were stolen. This equates to approximately $308 million worth of bitcoins.

DMM Bitcoin assured its customers that their bitcoin deposits would be fully matched by purchases backed by its group companies, although no timeline was provided. The theft took place at 1:26 p.m. Tokyo time, coinciding with a transaction of 4,502 bitcoins seen on Bitcoin. blockchain.

In response, the exchange halted crypto withdrawals, spot market purchases, and new leveraged trading positions, while delaying yen-denominated withdrawals. DMM Bitcoin said further updates would be shared in a later announcement. According to blockchain analytics provider Elliptic, this incident ranks as the eighth largest cryptocurrency exchange hack in history and the largest since the $477 million theft from FTX in late 2022.

What to expect in the markets this week

A speculative surge has driven up the prices of some meme tokens and GameStop (GME) stocks Monday just hours after famed retail trader Keith Gill, famous for the 2021 GME short squeeze, revealed his latest bet on the stock. Using his alias “DeepF—ingValue” on Reddit, Gill shared his GME options positions on the r/Superstonk subreddit, revealing bets worth more than $115 million in stocks and $65 million in call options expiring on June 21.

Gill also passes by Kitty Roaring on YouTube and its most recent viral post sparked a rally, with cat-themed meme tokens such as POPCAT and MOG. Meanwhile, unrelated GME piece of money on the Solana network soared around 200%. Gill’s social media activity previously sparked similar rallies in Mayhighlighting his significant influence and impact on the market since his first GameStop analysis in 2019, which resulted in the January 2021 short squeeze.

While bitcoin has seen a sustained bull market throughout the year, the so-called altseason, referring to a rally in altcoins or non-bitcoin tokens, has yet to materialize. However, the frenzy around meme tokens shows that there is still plenty of speculation in the crypto market outside of bitcoin. Of course, it is worth noting that trading small-cap tokens in the crypto market often amounts to nothing more than a game of chance.

Fuente

Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

4 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

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Fuente

Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

4 months ago

1 August, 2024

TokenTalk Staff

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings

August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.

The viral power of memecoins

Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.

Shiba Inu: riding the wave of popularity

Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.

Ecosystem expansion

THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.

Balancing humor and professionalism

Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.

Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.

Expanding Reach and Adoption

Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.

Why August is the month to invest

As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.

Conclusion: Don’t miss the benefits

Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.

For more information on the Mpeppe presale (MPEPE):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

4 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.

As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.

The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.

Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.

Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.

Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.

Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.

In the world of meme coins, when it rains, it rains.

Edited by Stacy Elliott.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

4 months ago

1 August, 2024

TokenTalk Staff

Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD

A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.

Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.

“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $66,236.

According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.

Source: Altcoin Sherpa/X

Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.

Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.

Source: Altcoin Sherpa/X

POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.

Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.

“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”

Source: Altcoin Sherpa/X

WIF is trading at $2.27 at the time of writing.

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