The post PEPE Price on the Verge of a 3x Rally: Here Are the Potential High Levels appeared first on Coinpedia Fintech News Leading frog-themed meme coin, Pepe (PEPE) rallied more than 17 percent on Tuesday during the early New York session to trade around $0.00000773. The mid-cap meme coin, with a fully diluted valuation of around $3.25 billion at the time of this report, recorded a 40 percent spike in trading volume in the past 24 hours. Why Is Pepe Price Surging? Following the Bitcoin halving last weekend, more investors have been diversifying their crypto investments into speculative assets led by meme coins. According to market data provided by Coingecko, the total market cap for top meme coins surged by around 6 percent to about $58.3 billion. Top meme coins led by Pepe, Floki, and Bonk among others surged nearly 20 percent. Meanwhile, Coinbase International announced its 1000PEPE-PERP market is fully available for trading following the recent listing. The recognition of Pepe by Coinbase is a major milestone that will expose the meme coin to a wider global market. Our 1000PEPE-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. pic.twitter.com/hO32wARVFu— Coinbase International Exchange (@CoinbaseIntExch) April 23, 2024 PEPE Price Rally Following today’s spike, Pepe’s price attempts to break out of a recent correction towards a new all-time high. According to a popular crypto analyst, Captain Faibik, PEPE price is well positioned for another 2-3X rally in the coming weeks. Notably, Pepe is already in price discovery mode on the weekly time frame following the bullish breakout earlier this year. $PEPE #PEPE Looks Pretty Solid for Another 2-3x Bullish Rally. pic.twitter.com/1Y4DRvWLWg— Captain Faibik (@CryptoFaibik) April 23, 2024 However, Pepe’s price must consistently close above the daily falling logarithmic trend to invalidate further correction in the near term. However, the next crypto market phase will be decided by Bitcoin’s price action, as it has been in major bull cycles.
Investors are still gauging macroeconomic factors, one observer said.
The post SEC Delays Decision on Ethereum ETFs: What’s Next for Grayscale? appeared first on Coinpedia Fintech News The U.S. Securities and Exchange Commission (SEC) is still delaying its definitive ruling on the proposals for Ethereum-based Exchange Traded Funds (ETFs) even after a month of extension. As the SEC’s deadline to decide on Ethereum ETFs looms on May 23rd, the atmosphere is filled with anxiety and speculations, particularly concerning major player Grayscale Investments’ efforts to transition its Ethereum Trust into a spot ETF. Re Eth ETF approval, we are holding the line at 25% odds altho tbh it is a very pessimistic 25%. The lack of engagement seems to be purposeful vs procrastination. No positive signs/intel anywhere you look. Personally hope they do approve it but it just ain't looking good. https://t.co/nuBdCDE18L— Eric Balchunas (@EricBalchunas) March 25, 2024 “It’s not looking very promising” “As has been widely reported, the consensus is that because there has been little to no meaningful engagement from SEC staff on the issuers’ applications, that they will ultimately deny on May 23rd,” Fox Business journalist Eleanor Terrett revealed on X. This sentiment underscores a broader uncertainty and prevalent skepticism among crypto community members about the SEC’s pending decision. Last month, Bloomberg ETF analyst Eric Balchunas said there’s “a very pessimistic 25%” chance of approval of Spot Ethereum ETFs. Terret reported, “It’s not looking very promising,” one issuer expressed, while another pointed out that necessary conversations have not occurred at this critical juncture. Also Read : Ethereum Spot Premium Reaches Highest Level Since October 2023 Says Top Analyst Grayscale Updates S-3 Form Within an hour and a half of Eleanor Terret’s insider tweet, Grayscale Investments published a press release announcing a significant step in the process of getting Ethereum ETFs approved. “Today, we filed a registration statement on Form S-3 to register shares of Grayscale Ethereum Trust (OTCQX: $ETHE) under the Securities Act of 1933. This is another important step toward uplifting ETHE as an ETF,” the press release declared. The firm’s filing of Form S-3, coupled with an earlier Form 19b-4 submitted by NYSE Arca, aims to transform its Ethereum Trust into a spot ETF. The filing has yet to be made available for public view. Further, Grayscale emphasized that the shares will soon be sold only by means of a prospectus. Read More : Grayscale Submits New Proposal for Spot Ethereum ETF: Unpacking the Ethereum Mini Trust What’s Next? Despite these concerns, some remain hopeful, clinging to the similarities between the Ethereum ETFs and previously proposed Bitcoin ETFs and betting on the quick resolution of staking-related issues. With only a month left before the SEC’s decision, the negative stigma prevailing is least likely to surge Ether prices, the opposite of what happened before Bitcoin ETFs were approved.
Careem Pay, the UAE-based digital wallet and fintech platform within the Careem Everything App, has expanded its international remittance services to include ‘Faster Payments’ to the United Kingdom for residents of the UAE. Careem Pay enables customers and business owners to manage their money, settle bills, and make seamless transactions both within and beyond the app. The Careem Pay international remittance service to India and Pakistan has been adopted by expats across the UAE. It revealed that one customer sent over $90,000 in remittances to Pakistan throughout 2023. The new UK remittance service enables customers in the UAE to send money to UK bank accounts in a matter of minutes using just the recipient bank account number and sort code, or the IBAN. Approximately 240,000 British expats resided in the UAE as of 2023, while the UK received over $2.9billion from the UAE in less than one year. With competitive foreign exchange rates, customers can transfer up to AED45,000 (~£9,900) in a single transaction and up to AED135,000 (~£29,700) monthly. Mohammad El Saadi, VP of Careem Pay Mohammad El Saadi, VP of Careem Pay, commented: “Careem Pay’s purpose is to simplify and increase access to financial services for people across the region. We were thrilled to see our remittance services to Pakistan and India enable so many of our customers and Captains in the UAE to send money back home within minutes, and we are excited to now extend this service to another significant segment of the UAE population with near-instant money transfers to the UK.” “Our UK remittance service will be particularly helpful for anyone who makes consistent transfers to the UK, be it to support families back home, make mortgage payments or contribute to other personal investments.” The post Careem Expands Remittance Services to the UK for UAE Residents appeared first on The Fintech Times.
The post Grayscale Submits New Proposal for Spot Ethereum ETF: Unpacking the Ethereum Mini Trust appeared first on Coinpedia Fintech News In a significant move that could reshape the current negative stigma prevailing about the unlikely approval of spot Ethereum ETFs by the US SEC, Grayscale Investments has officially announced its submission of an S-1 filing for the Grayscale Ethereum Mini Trust, on April 23, 2024. Detailed Breakdown of the Proposed Ethereum Mini Trust Grayscale’s proposal involves the creation of the Grayscale Ethereum Mini Trust, to be listed on the NYSE Arca under the proposed ticker “ETH,” contingent upon necessary regulatory consents. The company stated in its press release that “Grayscale recently submitted a registration statement on Form S-1 for a new spot Ethereum ETF called Grayscale Ethereum Mini Trust.” The initiative also includes an Information Statement on Schedule 14C relating to the Grayscale Ethereum Trust (ETHE), detailing the mechanics of how the new ETF would be seeded through a spin-off. Specifically, a designated portion of Ether underlying ETHE shares would be used to establish the Grayscale Ethereum Mini Trust, with shares distributed pro rata to ETHE’s shareholders. Craig Salm, Grayscale’s Chief Legal Officer, elaborated on the process: “Shares of ETH would be distributed proportionally to ETHE shareholders, so that ETHE shareholders maintain their same exposure to Ether – though spread between two products, ETHE and ETH, instead of just ETHE.” Rationale Dual Ethereum ETFs The launch of two distinct Ethereum ETFs by Grayscale is part of a broader strategy to diversify product offerings and meet varied investor needs and interests. The proposed Grayscale Ethereum Mini Trust, with its lower fee structure, aims to attract investors with a buy-and-hold strategy, especially those looking to incorporate Ethereum into their brokerage or retirement accounts. On the other hand, the existing Grayscale Ethereum Trust is noted for its liquidity and established track record, characteristics highly valued by many U.S. investors and capital allocators. Update on the SEC’s Decision on ETH ETFs One month out from the @SECGov’s deadline to either approve or deny the $ETH spot ETFs. Today, the SEC delayed making decisions on applications from @FTI_US and @Grayscale. As has been widely reported, the consensus is that because there has been little to no meaningful…— Eleanor Terrett (@EleanorTerrett) April 23, 2024 Approval from the Securities and Exchange Commission (SEC) is approaching its deadline in late May 2024 for deciding on similar Ethereum ETF applications by Grayscale, Franklin Templeton and BlackRock. Fox Business’s Eleanor Terrett recently noted, “Issuers say it is not looking very promising,” sharing the lack of meetings between SEC officials and issuers. Meanwhile, Salm explained, “Before spot Ethereum ETFs are allowed to list and trade on national exchanges in the United States, their registration statements must be declared effective and other regulatory requirements must be approved.” Investors currently holding ETHE shares need not take any action to prepare for the proposed spin-off. If approved, the process will automatically seed the creation of the new Grayscale Ethereum Mini Trust, distributing new ETH shares to investors seamlessly. As the deadline for the SEC’s decision on Ethereum ETFs nears, Grayscale’s proactive submission of the Form S-1 for its Ethereum Mini Trust underscores a strategic attempt to navigate the complex regulatory environment. This proposal could potentially influence the broader context of cryptocurrency ETFs in the U.S., where regulatory hesitance has often slowed the expansion of such financial products.
The post Altcoins Rebound as Bitcoin Gains Strength; TerraClassic (LUNA) & Terra (LUNA) Could Rise By 20% Soon appeared first on Coinpedia Fintech News The crypto markets are consolidating again as Bitcoin price failed to sustain above $67,000, displaying some weakness among the bulls. The selling pressure does not appear to have mounted, but without a rise in the buying volume, it may certainly be possible for the star crypto to sustain above the range. Now that the BTC price is consolidating, altcoins are gaining strength, including popular ones like TerraClassic (LUNC) & Terra (LUNA). Both the sister-tokens are displaying a huge possibility of a bullish breakout, while a bullish close for the day may confirm the trend. TerraClassic (LUNC) Price Analysis The TerraClassic price has been trading within a falling wedge for quite a while, and the recent rebound from the bottom has brought an influx of notable bullish momentum Currently, the price is heading towards the upper resistance but the buying pressure has dropped considerably, which could hamper the pace of the rally RSI is also heading slowly towards the average range, which suggests the token may maintain an ascending consolidation for a while Therefore, the LUNC price is believed to range high and test the upper resistance by this weekend and if bulls display some strength, a breakout could be imminent, which may lead the price towards $0.00012. With this, the possibility of ranging to $0.00015 could be high Otherwise, a rejection may lead towards a sideway accumulation within a range-bound level between $0.00011 and $0.000098 until the next price action Terra (LUNA) Price Analysis The Terra price appears to be extremely bullish, as the price has accomplished a retracement after a pullback The price has formed a double top, which suggested the token could face a bearish pullback and as a result, the crypto faced a 60% drop However, the price has secured within the crucial resistance and the MACD has displayed a bullish crossover, suggesting a bullish continuation Therefore, a price rise to $0.87 may be expected if the bulls display strength in the next few days.
GoCardless, the bank payment company, expanded its partnership with Intuit QuickBooks, a financial management software, with two new launches.
Marking the one-year anniversary of its Singapore office, Trulioo, the identity platform for person and business verification, has revealed that it achieved a 90 per cent business verification rate across the APAC region, including in markets with minimal data availability and multiple languages. Trulioo explained that its commitment to Asia-Pacific (APAC) has proved vital for payments providers, online marketplaces and financial services companies expanding into Europe and North America, as well as for organisations venturing into the region. Trulioo highlighted how its 24/7 implementation support helps APAC-based brands expand into new markets, meet complex regulatory requirements and quickly onboard customers and merchants. It revealed that it has supported one e-commerce platform to quickly verify brands in China and the US, saving more than a week of manual processing time onboarding each business. Meanwhile, a global remittance provider has expanded into 30 markets, including Bangladesh, China, the US, India, Indonesia and the Philippines, with Trulioo support. Its largest market is China, where Trulioo delivers an average match rate of 92 per cent for the provider’s target demographic. Ivan Yang, APAC operations director at Trulioo Ivan Yang, APAC operations director at Trulioo heads the Singapore office and has seen the firm’s global footprint expand under his guidance. He has helped develop strategic alliances with over 400 partners across 50 countries. “Our customers rely on cutting-edge, customised capabilities to meet their full range of verification needs, no matter the region or business type,” he explained. “Our 24/7 implementation support has been instrumental in helping our customers expand and meet regional compliance mandates. The APAC market is dynamic, and we’re proud to be there around the clock with verification guidance that drives measurable growth.” Propelling Trulioo growth across APAC Trulioo also helps APAC organisations navigate complex regulatory obligations while doing business overseas, particularly in markets such as Europe and North America. That support includes automating manual Know Your Business processes, such as mapping cross-border links among businesses and owners. Steve Munford, CEO of Trulioo, discussed the identity platform’s effort in the region: “APAC is pivotal to Trulioo, and Ivan has been a force in driving unprecedented growth throughout the region. In one year, he has assembled an exceptionally dedicated team adept at providing unparalleled support to customers while driving innovation and propelling our growth throughout the region.” Trulioo also offered further examples of how it has supported businesses in the past year: A global e-commerce brand working with Trulioo has identified and verified over one million Chinese businesses and their owners. A payment processor in APAC that onboarded sole proprietorships at scale partnered with Trulioo and has now expanded that verification to Japan, Canada, Australia and the UK. The post Trulioo Celebrates APAC Successes One Year After Opening Singapore Office appeared first on The Fintech Times.