e& life, the business pillar of technology and investment group e&, has joined the Dubai FinTech Summit, organised by Dubai International Financial Centre (DIFC), the global financial centre in the MEASA region. As the latest âPowered Byâ sponsor of the Dubai FinTech Summit (DFS), e& life explained it is dedicated to supporting innovative and future-thinking businesses across the globe. The partnership sets the stage for the second edition of DFS, empowering start-ups and entrepreneurs with the tools, resources, and networks needed to ensure growth. Leveraging emerging technologies, e& life offers fintech, entertainment, retail, and mobility services through its smart platforms and apps. The e& fintech arm, e& money, has become known for its user-friendly mobile financial services, as well as its position as the UAEâs fastest-growing issuer of Mastercard debit cards. Khalifa Al Shamsi, CEO of e& life Khalifa Al Shamsi, chief executive officer at e& life, discussed the firmâs ambitions in the area, in light of the sponsorship: âThe Middle East is at the forefront of a major transformation in financial services delivery, driven by technology shifting from traditional to innovative solutions. As a pioneer in the regionâs flourishing fintech sector, e& is driven by a bold vision to lead this change. âThrough strategic partnerships, we aim to fast-track progress and take the regionâs fintech potential to new heights. This partnership represents a valuable opportunity for both e& and its fintech portfolio under the business pillar e& life to collectively imagine new possibilities, inspire breakthrough ideas, and catalyse impactful innovations. âBy bringing together the talent and resources within our ecosystems, we can accelerate the journey toward a future where financial services truly empower people across societies. We also look forward to contributing our expertise to shaping discussions that will steer the direction of the industry and play a role in realising the UAEâs aspiration to become a global hub for financial innovation.â âThe path to true innovation lies in collaborationâ The Dubai FinTech Summit, scheduled for 6 and 7 May 2024, at Madinat Jumeirah, Dubai, expects to see a gathering of over 8,000 decision-makers, over 300 thought leaders, as well as over 200 exhibitors showcasing cutting-edge technologies. Mohammad Alblooshi, CEO of the DIFC Innovation Hub Mohammad Alblooshi, chief executive officer at DIFC Innovation Hub, also commented: âThe path to true innovation lies in collaboration and the Dubai FinTech Summit strives to bring together global leaders, innovators and disruptive start-ups to shape the future of finance. âThe alliance between the summit and e& life demonstrates our mutual commitment to fostering a dynamic fintech ecosystem to strengthen Dubaiâs existing reputation as a leading business destination. Transforming challenges into opportunities, our goal is to create the most advanced, inclusive and technologically empowered financial community.â DFS has aligned its second edition with the Dubai Economic Agenda (D33) to position Dubai as a top four global financial hub by 2033, by encouraging cross-border collaboration and innovation. It presents a opportunity to explore emerging fintech trends and their potential to drive financial progress in the MEASA region. The post e& life Becomes Latest Powered By Sponsor for Dubai FinTech Summit appeared first on The Fintech Times.
The post Baseâs Breakthrough: How Coinbaseâs Layer-2 Network Surged to $4 Billion in TVL appeared first on Coinpedia Fintech News Base, Coinbaseâs Layer-2 network, shocked the crypto market last week with a surge in its total value locked (TVL), exceeding $4 billion for the first time. Interestingly, This week it has become a significant contributor to the companyâs profits, estimated at $26 million in net profit since its launch in July 2023. Baseâs robust transaction volumes and fees, driven by project listings and high demand, have boosted its growth, with transactions comprising over 60% of all Ethereum activity in Q3 2023. Baseâs Profitable Journey According to the coinShares report, the surge in gas fees on Base due to high demand has led to strong earnings for Coinbase, with 85% of the profits going to Coinbase and 15% to competitor Optimism. This growth has positioned Base as a formidable player in the Layer-2 space, eating into the market share of competitors like Arbitrum and Optimism. VanEck analysts predict a $1 trillion market cap for layer-2 scaling ecosystems by 2030. Coinbase plans to further innovate the Base platform by allowing users to store their USDC balance within the network, enhancing efficiency and security while reducing fees and settlement times. Competition from OKXâs X Layer However, Coinbase now faces new competition from OKX, which recently launched its Ethereum-based Layer-2 scaling network, X Layer. X Layer, built using Polygonâs CDK and incorporating zero-knowledge proofs, offers users faster and more cost-effective transactions compared to Ethereumâs mainnet. With the introduction of X Layer, OKX enters direct competition with Coinbaseâs Base, adding further dynamism to the Layer-2 ecosystem. In comparing Base with Layer X, one notable difference is Layer Xâs integration of zero-knowledge (ZK) proofs into its architecture. This cryptographic feature allows for the verification of statements without disclosing the actual statements, a key aspect of Polygonâs updated design. This move underscores Polygonâs aim for improved interoperability among various blockchain networks. Current Optimism Based on data from L2Beat, Base is currently ranked third in terms of total value locked (TVL), just behind Arbitrum One and ahead of Optimism. At the time of this writing, Base has $5.29 billion in TVL and 14.17% of the market.
The post Bitcoin Price to Drop More Before Hitting New High Post Halving appeared first on Coinpedia Fintech News As cryptocurrency enthusiasts prepare for the TOKEN2049 event in Dubai amid heavy flooding, Bitcoinâs (BTC) price has continued to signal midterm weaknesses. According to the latest market data, the flagship coin has slipped around 3 percent in the last 24 hours to trade at about $62,366 on Wednesday during the early New York session. Furthermore, the cryptocurrency market recorded minor outflows of about $126 million last week, fueled by the GBTCâs daily selloffs. With the fourth Bitcoin halving less than three days from happening, overall crypto volatility is expected to remain high. Bitcoin Halving Impact The heightened demand for Bitcoin from institutional investors will worsen the demand vs supply shock after the upcoming halving. According to a popular crypto analyst alias PlanB, all Bitcoin price increases will again be around the halving impact. As a result, the crypto analyst has set a price target of at least $100k by the end of this year and over $300k in 2025. Bearish Outlook Before Rebound #Bitcoin is experiencing normal correction as it always did every halving month in preparation for cycle top.Currently, it is displaying the kind of Wyckoff re-accumulation range it did in Dec 2023 that led to $73k in 2024.1/5 pic.twitter.com/mBAfjr27ITâ Mikybull Crypto (@MikybullCrypto) April 17, 2024 According to a reputable crypto analyst alias Mikybull Crypto, Bitcoin price is likely to retest the support level of around $59k in the coming weeks before rebounding to a new high. Moreover, the daily Bitcoinâs Relative Strength Index (RSI) has been forming a bearish divergence amid the ongoing horizontal consolidation. The crypto analyst noted that Bitcoinâs Open Interest (OI), and funding rate have been at lower levels since the beginning of the year. With a possible $2.2 billion crypto liquidation if Bitcoin price drops to $57k, the crypto analyst is confident of a strong bullish implosion after the halving event.
Financial inclusion and fostering financial empowerment in Southeast Asia are hot topics for speakers at Money20/20 ASIA in Bangkok.
The post Should You Hold or Sell Ethereum? Expert Insights Ahead of the SECâs ETF Decision appeared first on Coinpedia Fintech News As the deadline for the SECâs decision on spot Ethereum ETFs approaches, investors are questioning whether to hold or sell their Ethereum holdings. Experts weigh in on the potential impact of the expected rejection and its implications for the broader cryptocurrency market. Experts and their Insights Analysts anticipate that the SEC will likely reject spot Ethereum ETF applications by the end of May. Bloomberg ETF analyst Eric Balchunas has revised his approval estimate from 70% to 25%, signaling a bearish sentiment. Similarly, decentralized prediction markets suggest bleak probabilities of approval, with figures as low as 18%. Lark Davisâs Perspective Renowned crypto investor Lark Davis believes that the market has already priced in the anticipated rejection. He states, âAt this stage, I think the rejection is priced in. No one is expecting an approval right now.â Davis emphasizes that while there may be short-term volatility after the announcement, the overall impact on Ethereumâs price is likely minimal. Davis references the efficient-market hypothesis, asserting that current asset prices reflect available information. He notes that an unexpected approval would significantly impact Ethereumâs price more, signaling new demand vectors. Assessing the Impact on Bitcoin and the Broader Market Bitcoin and Ethereum often move in tandem, with a correlation of about 62% as of April 11. Given their substantial market capitalizations, any significant movement in either cryptocurrency can influence the entire crypto ecosystem. While experts anticipate a rejection, they believe it wonât significantly affect Ethereumâs price or the broader market. Davis argues that Ethereumâs performance without an ETF has been robust, citing a 45% year-to-date increase. Long-Term Outlook and ETF Approval Despite the expected rejection, experts foresee eventual approval over the long term. Comparing Ethereumâs utility to Bitcoinâs, analysts highlight Ethereumâs focus on decentralized applications and technological innovation. While the approval timeline remains uncertain, analysts believe it wonât occur in May. Nevertheless, they anticipate no significant price decrease in Ethereum post-rejection. As the SECâs decision on spot Ethereum ETFs looms, investors grapple with whether to sell or hold their Ethereum holdings. Expert opinions suggest that while the rejection may cause short-term volatility, Ethereumâs long-term prospects remain bullish, irrespective of the outcome.
The post Ripple vs. SEC Lawsuit Update: Preparing for April 22nd as Supreme Court Showdown Looms appeared first on Coinpedia Fintech News Amidst regulatory challenges and court disputes, Ripple Labs Inc. continues its legal battle with the U.S. Securities and Exchange Commission (SEC), a conflict that has significant implications for the cryptocurrency landscape. Exploring the Legal Terrain As Ripple and the SEC lock horns over the classification of crypto assets, the debate intensifies over how these digital tokens should be regulated. Speaking at a Columbia Business School event, former SEC litigator Linda Steward hinted that the dispute might eventually escalate to the Supreme Court. Steward delineated the SECâs stance, noting that the agency does not consider tokens themselves as securities but rather their sale and offers. Since yesterday, her view has sparked debates within the crypto and legal communities about the practical implications of such a stance. During a notable exchange, blockchain lawyers questioned the feasibility of the SECâs approach. âBut then what do you register?â asked lawyer Rebecca Rettig. Steward answered that the token, plus âall the stuff around the token,â is the security. âYou canât register all the stuff, but you can register the token.â Lawyer Bill Morgan scrutinized this recent discussion and debate of SEC practices. Counter Thoughts Bill Morgan criticized the SECâs logic, stating, âThe token represents the security. The SECâs ideal outcome is a court accepts its theory that because the token has allegedly no inherent value that any sale must be an investment contract.â Eleanor Terrett, a reporter at Fox Business, detailed in her report on X that starting May 22nd, the SEC is set to dramatically increase transaction fees for public companies, shifting from $8 to $27.80 per every $1 million in transactions. This adjustment, necessitated by a shortfall in budget neutralityâunder-collecting by $50 million last year and $414 million the previous yearâreflects the agencyâs effort to stabilize its financial status. Amidst these regulatory challenges, Ripple prepares for its next legal fight. Stuart Alderoty clarified upcoming deadlines, noting that Ripple will respond to the SECâs penalty requests by April 22, and the SEC will reply by May 6. This timeline marks crucial next steps in a case with legal implications and significant market impacts. On the other hand, Ripple CEO Brad Garlinghouse remains committed to challenging the SECâs claims to the highest courts. Rippleâs resolve is evident as it prepares to respond to the SECâs demands for penalties, with deadlines set for the upcoming weeks.
The post Top Reasons Why Bitcoin Price is Down Today appeared first on Coinpedia Fintech News Bitcoinâs price has been dropping rapidly due to the increasing geopolitical conflict in the Middle East. At the same time, the U.S. economy has proven to be resilient, and this has caused an increase in bets on higher interest rates. This has reduced the marketâs risk appetite, further hurting Bitcoin. The Bitcoin Halving 2024 is just two days away, and there is much speculation about whether the BTC price will crash once again or make a sharp rebound. Here are the top factors contributing to the current market sentiment Assessing the Reasons Behind the Dip The ongoing geopolitical tension is the first reason behind this dip. Recent statements regarding potential conflict between Iran and Israel have rattled markets, leading to panic selling. AshCrypto highlights the possibility of a wider conflict, causing investors to flock to safer assets and dump cryptocurrencies. Secondly, uncertainty prevails over the monetary policy. Powellâs hawkish stance on interest rates has added to market uncertainty. With the Federal Reserve signaling a reluctance to address inflation concerns promptly, investors are adjusting their expectations, impacting Bitcoinâs price trajectory. Thirdly, market greed and leverage is affecting Bitcoinâs price. Retail investorsâ greed and excessive leverage exacerbate market volatility. Despite corrections, the funding rate remains positive, indicating lingering greed among traders. This trend suggests a need for a market reset to alleviate downward pressure. What Next For Bitcoin Price? Ali Martinez emphasizes the importance of the $62,000 support level for Bitcoin. He says, âA breach of this level could trigger further selling pressure, potentially leading to a shift towards the next significant demand area near $51,500.â Conversely, Ali Matinez reclaims that the $66,250 level could signal a resurgence of bullish sentiment. A move above this threshold might rejuvenate the bull run, offering hope for a Bitcoin price recovery. Analysts note that the market remains in a state of greed, with recent readings indicating extreme greed. This sentiment suggests that Bitcoin may need further correction to instill fear and restore balance.
The post Top Altcoins To Buy This Dip For 100x Profits appeared first on Coinpedia Fintech News Cryptocurrency analyst Chump Chang took to his latest analyst and listed altcoins that have experienced significant declines from their all-time highs but present attractive buying opportunities. Here is the list of altcoins for 10x gains in 2024: Cardano: Cardano, currently trading at 45 cents, has witnessed an 85.4% decline from its peak in September 2021. The analyst sees potential for Cardano to achieve significant gains, citing its strong fundamentals and the leadership of Charles Hoskinson, a co-founder of Ethereum. Polkadot: With an 88.2% drop from its all-time high, Polkadot is trading at $6.52. He views Polkadot as a promising project focused on connecting different blockchains, potentially leading to substantial growth during the upcoming bull run. Ethereum Classic: Its price has declined 84% from its peak in May 2021 and is currently at $25.55. He highlighted its attractiveness as a mineable cryptocurrency and speculated on the impact of the Ethereum ETF on its price. Litecoin: Litecoin, trading at $78 and down 81% from its peak, offers a reliable payment system with widespread acceptance. The analyst discussed its low transaction fees and fast transaction speeds, positioning it as a sound investment choice. Sandbox: Sandbox, down 95% from its all-time high, is currently priced at 42 cents. As a gaming-focused cryptocurrency, he sees potential for significant gains, particularly amidst the growing interest in the metaverse and gaming industry. Solana: With a 49.6% drop from its peak, Solana is trading at $131. He praised Solanaâs ecosystem and anticipated substantial growth despite potential challenges. Dogecoin: Dogecoin, down 79.4% from its peak, is currently priced at 15 cents. He highlighted its meme status and widespread popularity, suggesting it could see significant appreciation. Kaspa: Kaspa, trading at 18 cents and down 41.2% from its peak, has caught his attention due to its fast transaction speeds and finite supply, making it a potential long-term investment.