The post Ripple vs SEC : Brad Garlinghouse Is Bullish on Ripple’s Win in XRP Lawsuit appeared first on Coinpedia Fintech News Ripple CEO Brad Garlinghouse recently shared insights on various touch points related to Ripple vs SEC. Starting from the ongoing SEC lawsuit, crypto market predictions, and potential Black Swan events. He expressed confidence in Ripple’s stance against the SEC, emphasizing the importance of fighting for clarity in regulations. Garlinghouse predicts that the SEC will ultimately lose the lawsuit, despite their attempts to settle and portray Ripple negatively. CEO Calls for a “Black Swan” Event in Midst of Lawsuit According to Garlinghouse, the crypto market could hit a market value of $5 trillion by the end of the year. He suggests long-term investments instead of trade, which could lead to an increase in the price of XRP as the lawsuit’s effects wear off. Garlinghouse also thinks that the industry will have unexpected events, or “black swans,” but he doesn’t say what they might be. He says that the SEC might start to look more closely at Tether, which could have big effects. Brad Garlinghouse also predicts that crypto will drive swing state voters away from Democrats as a political issue in the U.S. Democrats fail to comprehend that Senator Elizabeth Warren is “leading them off a cliff.” Legal Insight However, in terms of legal proceedings, lawyer James Murphy suggests that Judge Torres might dismiss the SEC’s disgorgement argument. Additionally, Ripple could leverage the court’s ruling in the Binance lawsuit to counter the SEC’s claims regarding their stablecoin plans. Ripple’s Stance on ETH and XRP Status Notably, with the XRP case nearing its end, there is wide speculation on XRP and ETH’s status, and the market is split on what will happen to these top coins. However, Ripple and Garlinghouse have consistently defended XRP’s non-security status, maintaining a strong stance over the years. Recently, Garlinghouse reiterated this view and made comments that would resonate with crypto enthusiasts and investors. In addition to asserting that XRP and ETH are not securities, Garlinghouse criticized SEC Chair Gary Gensler, labeling him as an “unethical human being.” This criticism likely stems from Gensler’s negative remarks about the crypto industry, which have been perceived as unfair by many investors. The Ripple vs. SEC is at its final stage, and a lot is at stake. Do you think this will be XRP’s moment, or will SEC win this crypto battle? Tell us your views.
The post Grayscale Halts Ethereum ETF Plans, Sparking Price Drop and Surge in Ethereum Classic, TRON Trading appeared first on Coinpedia Fintech News Ethereum holders are apoplectic after Grayscale abruptly shelved its Ethereum ETF application. Oddly enough, the development came weeks before the United States Securities and Exchange Commission’s ruling. This caused Ethereum prices to tank. Consequently, the development caused a spike in Ethereum Classic and TRON. Read up on Grayscale’s Ethereum ETF withdrawal and its effect on the crypto trading market below. Grayscale shelves Ethereum ETF plans; Ethereum tanks Grayscale withdrew its Ethereum ETF application. Ethereum prices plummeted below $3,000 in the wake of the news. The downturn simultaneously triggered an influx into Ethereum Classic. Ethereum suffers from a serious lack of interest as a speculative asset. The action is moving to other L1s like Solana and Avalanche. Ethereum has largely underperformed relative to Bitcoin and other L1s. ETH moonboys, be forewarned. A good number of Ethereum holders are selling off their holdings and reinvesting into projects like Raboo. No one predicts Ethereum to breach all-time highs in 2024 anymore. Ethereum Classic pumps after Grayscale Ethereum ETF withdrawal Ethereum Classic outperformed Ethereum last week. Notably, Ethereum Classic turned in a 8% gain in the past week. The increase came in the wake of Grayscale shelving its Ethereum ETF application. Oddly enough, Grayscale is heavily invested in the original Proof-of-Work smart contract platform. Ethereum Classic has drawn blockchain purists who believe in blockchain immutability by maintaining the original Ethereum ledger. Ethereum Classic could serve as a “backup” to Ethereum should the latter experience a black swan event threatening its viability. Ethereum Classic could be a good dark horse bet for intrepid investors this year. TRON sustaining value even under SEC threat TRON has held up remarkably well even as it remains under the gun of regulation, facing lawsuits from the US SEC. TRON prices have retained their value between the $0.10 to $0.13 range, trading at $0.1228 as of press time. That’s not too far from TRON’s all-time high of $0.30, making TRON a good bet to retest its ATH, if not record a new one should the overall crypto trading sentiment pick up again in 2024. The final word The hype of any “flippening” surrounding Ethereum has all but completely dissipated, exposing the very little actual use Ethereum receives. That’s not to mention the lack of speculative interest from short-term holders. Ethereum is overvalued relative to other L1 coins, and Grayscale’s abrupt withdrawal of its Ethereum ETF is an indictment of the lack of interest in such a product. Meanwhile, Ethereum Classic and TRON have lesser price appreciation upside for crypto trading considering their respective massive billion-dollar market caps. The smart money, instead, is betting on projects like Raboo, whose innovative AI-enabled SocialFi features blended with meme coin appeal have drawn over $1 million entering Stage 3 of its highly-awaited presale launch. With $RABT presale prices available at just $0.0042, early adopters can still reap a handsome 233% in presale token increases before the road to 100x opens upon listing. With exclusive NFT and merch drops, and a post-to-earn mechanic to support the growth of its user base, Raboo has a legitimate shot at 100x this year. You can participate in the Raboo presale here. Telegram: https://t.me/RabootokenPortal Twitter: https://twitter.com/Raboo_Official
International consultancy firm Forensic Risk Alliance will reportedly closely oversee all compliance activities of cryptocurrency exchange Binance for the next three years.
The post Why Toncoin (TON) Price is Surging? appeared first on Coinpedia Fintech News Interestingly, after breaking a long consolidation, Toncoin has shown its strength since January. Price has risen 272% since then, reaching $7.5 highs. This has created significant buying pressure, keeping the token on an uptrend when the larger tokens are bearish. Will Ton go higher than this? If so, can we expect an all-time high in the double digits this month? The price of Toncoin increased by a staggering 250% in less than two months, from late February to early April. TON boasts a market cap exceeding $24 billion, marking a remarkable 200% rise since the beginning of the year. Here are some key factors pumping this bullish momentum for TON’s remarkable performance Pantera Capital’s Significant Investment Pantera Capital, a prominent venture capital firm, boosted TON’s expectations with over $4 billion investment in TON and its ecosystem. While the exact investment amount remains undisclosed, Pantera’s confidence in TON’s potential is evident, particularly considering its collaboration with Telegram, boasting 900 million users, potentially positioning TON as one of the most widely-used blockchain networks globally. Rise of Notcoin Next up which made a buzz in TON’s network is the upcoming launch of Notcoin’s $NOT token, scheduled in less than a week and already listed on major exchanges like Binance, has generated significant buzz. Notcoin, an interactive game based on Telegram, will utilize the TON blockchain for its token. With nearly 35 million users engaging in the game, the anticipation surrounding Notcoin has contributed to the overall excitement surrounding the TON ecosystem, potentially influencing TON’s recent surge. Support from Telegram’s Founder, Pavel Durov A million-dollar partnership boosting confidence in TON. Pavel Durov, the founder of Telegram, has been increasingly vocal about the Ton ecosystem, particularly during his appearance at Dubai’s Token2049 event. Durov’s announcements regarding the integration of Ton within Telegram, including features like tokenizing stickers and emojis, have bolstered investor confidence in the relationship between Ton and Telegram, potentially driving TON’s recent uptrend. TON’s Current Market Snapshot Looking at TON’s price the projections are bullish. Toncoin recently experienced a healthy correction, reaching a 50% retracement, indicating strong buyer dominance in the market. Its breakout from a wedge pattern suggests the correction’s end, with trading volume up 84% to $778.6 million. Notably, Toncoin’s recovery aligns with the broader cryptocurrency market trend, with a 44% gain within two weeks. The breakout from the pattern’s trendline signals a potential rally, targeting $9.23 and $22.5. Key resistance levels are at $7.67, $10, and $15, while technical indicators show a shift to bullish sentiment. What do you think will TON hit a new ATH in May?
The post Why the Ethereum (ETH) Price Has Been Plunging After the Dencun Upgrade: Has the Token Become Inflationary? appeared first on Coinpedia Fintech News The latest Ethereum hard fork, Dencun, went live on March 13, 2024, and was deployed on the mainnet to reduce rising transaction fees. The fees have been significantly reduced while the platform’s scalability has increased, but the price appears to have had no positive impact. The ETH price faced rejection shortly after the upgrade, resulting in a steep bearish trend that has continued to this day. This has compelled the market participants to think about whether the upgrade has been a major reason for Ethereum’s downfall! The Ethereum blockchain was unable to facilitate a large number of transactions, which created congestion, resulting in a longer processing time and huge transaction fees. However, it was believed that the upgrade could help the platform achieve stability, which may further boost the ETH price. However, the recent findings do point towards the token becoming inflationary again, having become deflationary after the merger. Rise in the Total Supply The Ethereum total supply, which was rising at a greater pace, was slashed hard soon after the merger as the platform transitioned from the PoW to the PoS consensus mechanism. After the recent upgrade, there has been a rise in the total supply. This supply decline accelerated when more transaction fees were being burned. Translation Fee Reduced While Total Transaction Increased The main aim of the merger was to make Ethereum an ultrasound money, which was on track displaying a slight reduction in total supply. However, after the Dencun upgrade, the transaction fees and the ETH burn rate dropped. Unfortunately, this has led to an increase in supply, which is feared to make the asset inflationary. A Steep Rise in the New Issuance The recent on-chain reading shows that the Decun upgrade has reversed the impact of the merger on the platform. Ethereum’s transaction fees from network activity have been dropping but with a jump in user activity. The new supply is now growing at the fastest daily rate since the merger, as fees plummeted as a consequence of the Dencun upgrade. These could be a few potential reasons why the Ethereum (ETH) price has remained under bearish heat despite the bullish events. Besides, a delay in the spot Ethereum ETF may inversely impact the price, which is believed to fall to the $2500–$2700 range.
Emirates, one of the largest airlines in the world, and Tap Payments, the online payment gateway, are joining forces in an effort to introduce enhanced convenience, savings, and growth opportunities for small and medium-sized enterprises (SMEs) in the MENA region. Emirates and Tap Payments signed a memorandum of understanding (MoU) during the Arabian Travel Market, an international travel trade show, in Dubai, The partnership will look to combine Tap Payments’ payment products with Emirates’ renowned Business Rewards programme; enabling SMEs to convert their Tap Rewards into Emirates Business Rewards, enhancing their travel experiences and supporting business operations across diverse destinations. Dina Al Herais, vice president of commercial products, business and leisure at Emirates, was joined by Anwar Marafi, head of value-added services at Tap Payments, as both signed the agreement. Marafi shared his enthusiasm about the collaboration and explained the impact he hopes it will have on SMEs in the region: “We are excited and privileged to partner with Emirates, the world’s most iconic airline, to offer our SME customers a seamless way to convert their Tap Rewards into Emirates Business Rewards. “This collaboration empowers our valued customers to grow their businesses through travel opportunities and showcases our commitment to driving innovative products and supporting businesses across the MENA region.” Dina Al Herais; Anwar Marafi; Nabia Sultan, EVP, passenger sales and country management at Emirates, and Ahmed Alwazzan, MD of the UAE at Tap Payments were present at the signing. The initiative offers a simple and quick conversion process, to help small businesses benefit from travel opportunities, and unlock new growth opportunities for them. Both firms aim to reach, engage, and attract Tap’s extensive SME customer base across the region, and enrol these SMEs in the Emirates Business Rewards programme by 2025. From easy online booking management to complimentary enrollment in the Emirates Business Rewards program, SMEs will gain the opportunity to accumulate points on all business travel, potentially providing substantial flexibility and cost savings. The post Emirates and Tap Payments Enhance Travel Experiences and Growth Opportunities for SMEs appeared first on The Fintech Times.
The post U.S. State Department Investigates After Binance Executive Detained in Nigeria appeared first on Coinpedia Fintech News A Binance executive from America was held hostage in Nigeria, facing a bribe demand of $150M. The officer, Tigran Gambaryan, stayed captive for 70 days and was charged with tax evasion and money laundering. His colleague escaped, but he got arrested near Prince Harry and Meghan’s tour location in Nigeria. The US State Department said that they are actively investigating Gambarayan’s case. They are in constant communication with him, his family, and the legal time, states the spokesperson of USSD. They pledge to help him through this prolonged detention, which has caused significant domestic and international concerns. Binance CEO Raises Concerns Over Executive’s Detention Binance CEO, Richard Teng has voiced significant concerns about the safety and legal implications of Gambarayan’s arrest as it occurred under suspicious circumstances. Teng says Gambarayan was invited to Nigeria for a business meeting but was detained by the local authorities as soon as he arrived. Serious questions about the safety of foreign nationals engaging in Nigerian business have sparked amid this event. It pushed for a swift diplomatic resolution to mitigate the risks that international business relations carry with them. Amidst the Gambarayan detention controversy, Binance also had to confront charges of allowing market manipulation on its exchange platform. Initially Wall Street had reported these allegations. However, Binance has strongly denied the charges, stating that the company maintains strict protocols to prevent all kinds of market abuse and was proactive in enforcing its rules. Over the last three years, Binance has successfully terminated the accounts of nearly 355,000 users. They were collectively handling transactions worth over $2.5 trillion and violated its terms of service. IMF Calls for Enhanced Crypto Oversight in Nigeria In a related news, the International Monetary Fund (IMF) has advised the Nigerian authority to create the requirements for registration or licensing for the global crypto exchange platforms that operate within its territory. In fact, this recommendation has followed the 2024 Article IV consultation with Nigeria. It was focussed on strengthening the financial stability of the country. The IMF also highlighted that in order to ensure investor protection and maintain financial order, a strong regulatory framework for the crypto market is an utmost necessity. Also Check Out : Binance CEO Accuses Nigeria of Bribery, Misuse of Power in Crypto Crackdown
The BTC price had successfully reclaimed the $63K yesterday, highlighting an increase in the bullish sentiments. However, the crypto industry has