Catégorie : Crypto News

Prominent exchange listings often ignite massive price surges for lesser-known tokens, especially during a bull market.

South Korean crypto exchange giant Upbit’s announcement to list MOCA Network (MOCA), for one, has had a dramatic effect on its market performance.

Whale Moves Millions in MOCA

After Upbit announced the listing of MOCA, its price surge prompted two wallets, likely linked to the same whale, to deposit 9.5 million MOCA tokens worth $3.55 million to Bybit.

If these tokens are fully sold at the current price levels, the whale stands to make an impressive profit of $2.55 million, highlighting the significant market impact and profit potential tied to strategic token movements following major exchange listings, according to data compiled by Lookonchain.

Over the past 24 hours alone, MOCA has experienced a whopping 160% rally, briefly reaching $0.426 before stabilizing near $0.22. This price surge was accompanied by an astonishing 7,500% increase in trading volume, which now stands at $1.32 billion, and a market capitalization spike of over 205% to $341.61 million.

As per the official update, Upbit launched Korean Won, Bitcoin (BTC), and USDT trading pairs for MOCA. For the uninitiated, MOCA is the utility and governance token of a decentralized ecosystem called Mocaverse, which is a flagship project of the Hong Kong-based Web3 giant Animoca Brands Group.

$10M Funding Round For Mocaverse

Beyond its market performance, Animoca Brands recently announced a $10 million funding round for Mocaverse. The funding, supported by major investors like OKX Ventures, CMCC Global, and HongShan, is aimed at expanding Mocaverse’s interoperable infrastructure for consumer crypto adoption.

With MOCA’s fully diluted valuation at $1 billion, Animoca said that it is strategically building the Realm Network to advance Web3 interoperability and digital property rights. Mocaverse’s rapid growth is evident in initiatives like the Moca ID, which has already registered over 1.79 million IDs and fostered partnerships with prominent platforms such as Pixels, Trust Wallet, and OKX Wallet. Future collaborations with high-profile partners like the TON Foundation and Anime Foundation aim to onboard millions of users to the Moca Network.

[PRESS RELEASE – Kingstown, St. Vincent and the Grenadines, December 16th, 2024]

ECM Coin leverages blockchain to advance transparency, security, and smooth cross-border transactions in e-commerce. Its integration with Androverse adds innovative features like virtual real estate and secure, transparent payment systems for a more decentralized world.

The eCommerce Coin (ECM) incorporates blockchain technology into the online business environment, paving the way for advancements in cryptocurrency within e-commerce. By merging technology with business, ECM aims to foster a safer and more decentralized digital ecosystem.

Key Takeaways:

1. Works to transform e-commerce with secure, transparent blockchain-based transactions.
2. Enhances global trade efficiency through reduced costs and delays.
3. Drives virtual real estate integration with Androverse metaverse partnerships.
4. Empowers users with governance, staking rewards, and ecosystem utilities.

What eCommerce Coin (ECM) is

eCommerce Coin (ECM) is a blockchain-based cryptocurrency designed to enhance the e-commerce sector. It provides secure, transparent, and efficient digital transactions for global use.

Built on the Ethereum platform, ECM addresses critical challenges such as payment inefficiencies, fraud, and trust issues in digital commerce. With advancements in blockchain technology, ECM is positioned to support innovations in decentralized finance (DeFi) and virtual economies.

Key Features of eCommerce Coin (ECM)

ECM Coin distinguishes itself with innovative features tailored to the needs of e-commerce and beyond. Key differentiators include:

1. Smart Contracts for Fraud Prevention: Contract operations are only facilitated when specific agreed conditions have been satisfied, which minimizes instances of fraud.
2. Transparent Payments: Through seamless integration, ECM Coin simplifies the buying and selling of products by ensuring that each transaction is secure, verifiable, and traceable.
3. Cross-Border Efficiency: It is a fast and inexpensive way of making international payments, thus eradicating hitches that characterize cross–border transactions.
4. Discounts on Fees: ECM Token holders enjoy reduced transaction costs across its ecosystem, making it attractive for frequent users.
5. Integration with Metaverse: Collaborating with Androverse, ECM supports digital real estate ownership and virtual economic development, boosting token utility.

ECM Coin Tokenomics

• Token Name: eCommerce Coin (ECM)
• Blockchain Standard: Ethereum (ERC-20)
• Total Supply: 200 million tokens
• Burn Mechanism: 100 million tokens to be burned
• Distribution: 50% Pre-Sale and ICO, 40% Founding Team, 10% Angel Investors
• ICO Status: Phase 1 of 5 ICO is running from October 24, 2024, on MyCoinPoll Launchpad (limited quantity).
• Utility: Governance, staking, payments, transaction fee discounts

ECM Coin and Androverse: Advancing Virtual Economies

Androverse is a blockchain-based metaverse that integrates virtual real estate ownership, offering new possibilities for participation in the digital economy. Users can buy, sell, and interact with virtual properties, opening new revenue possibilities and digital experiences.

Androverse enhances ECM Coin’s utility and market value through innovative integration. Key ways include:

1. Primary Currency: ECM Tokens are used for all transactions within the Androverse metaverse.
2. Virtual Property Ownership: Users depend on ECM for buying, selling, and managing digital real estate.
3. Increased Demand: Growing adoption in the metaverse drives consistent demand for eCommerce Coin (ECM).
4. Expanding Ecosystem: Androverse adds new use cases, boosting ECM Coin’s functionality and value.

The ECM Ecosystem: Unlocking New Opportunities Beyond Androverse

The ECM Coin ecosystem provides an array of arrays in the form of platforms to take on blockchain integration beyond e-commerce. Through innovation establishment, smooth trading experiences, and offer of earning possibilities, eCommerce Coin (ECM) drives meaningful advancements in the crypto market. Here’s how eCommerce Coin delivers value across its ecosystem:

• MyCoinPoll: The Crypto Launchpad: MyCoinPoll empowers blockchain developers to fund their projects through ICOs and ITOs, driving innovation in the ECM ecosystem.
• bCoinMart: Centralized Trading Hub: bCoinMart simplifies crypto trading with secure transactions and discounted fees for ECM holders, making it a convenient choice for active traders.
• MarketsTerminal: Multi-Trading Powerhouse: MarketsTerminal streamlines access to forex, stock, and crypto trading, with ECM Tokens at its core for smooth financial operations.
• CryptoCoinEarning: Staking for Rewards: CryptoCoinEarning offers ECM holders the chance to stake tokens, get rewards, and support network security while growing their assets.

Key Advantages of ECM Coin for E-Commerce and Beyond

ECM Coin enhances e-commerce and crypto by offering secure, efficient, and transparent financial solutions. Here are the key benefits:

• Payment Security: Transactions are fraud-resistant and encrypted, working to ensure safety for businesses and shoppers alike.
• Global Transaction Efficiency: Fast and low-cost international payments make cross-border trade seamless.
• Cost-Effective Operations: Lower fees on platforms like bCoinMart save money for users and increase cost efficiency for businesses.
• Transparent Financial Ecosystem: Blockchain keeps transactions clear and verifiable, building trust.
• Rewards Through Staking: Staking ECM Tokens enables users to receive regular incentives.
• Multi-Platform Integration: Powers diverse uses, from e-commerce to virtual worlds.
• Governance Power: Stakeholders influence ecosystem decisions through voting.
• Advanced Blockchain Features: Smart contracts automate and optimize processes, boosting efficiency.

ECM Coin’s Market Potential: Capitalizing on the E-Commerce and Crypto Bubble

The global e-commerce industry is expected to exceed $60.62 trillion by 2034, highlighting the need for solutions to issues like fraud, transparency, and payment inefficiencies. ECM Coin addresses these problems by offering a fast, transparent, and scalable blockchain platform, making it a strong contender in the growing cryptocurrency market.

ECM Coin’s Role in Digital Economies

ECM Coin enhances e-commerce and crypto with blockchain solutions that prioritize security and transparency. It streamlines global transactions, mitigates fraud, and facilitates virtual real estate within Androverse. Backed by robust tokenomics, staking opportunities, and a growing ecosystem, ECM Coin is positioned to contribute significantly to the future of digital economies.

About ECM Coin

ECM Coin, founded in 2022 by BigBull Capital, is designed to transform the e-commerce and cryptocurrency landscapes. With a focus on addressing challenges like fraud, inefficient payments, and transparency, ECM Coin leverages blockchain technology to create a secure, fast, and efficient ecosystem. Offering features like staking incentives, virtual asset integration, and scalable solutions, ECM Coin empowers businesses and users to thrive in the evolving digital economy while driving innovation in global commerce.

For More Information:

Website | Telegram | X profile

TL;DR

• The exchange will increase collateral ratios for six altcoins, including PNUT, starting December 17.
• The squirrel-themed meme coin surged in value after its initial Binance listing and sparked widespread interest due to its backing from prominent people like Elon Musk.

The Involved Assets

The world’s leading cryptocurrency exchange will update the collateral ratio for numerous altcoins under Portfolio Margin from December 17. The effort will be completed within approximately one hour and affect the following assets: Peanut the Squirrel (PNUT), 1MBABYDOGE (1MBABYDOGE), Eigenlayer (EIGEN), Reserve Rights (RSR), Movement (MOVE), and Magic Eden (ME).

The collateral ratios of the aforementioned tokens will be raised by 10% each. PNUT’s ratio will be increased from 35% to 45%, while all others will be lifted from 10% to 20%.

“Collateral ratio will affect the Unified Maintenance Margin Ratio (uniMMR). Users should monitor uniMMR closely to avoid any potential liquidation or losses that may result from the change of collateral ratio,” the company warned. 

The collateral ratio represents the amount of assets required to secure a loan or maintain an open position. It is usually expressed as a percentage and compares the value of the collateral to the borrowed capital. A higher ratio provides greater assurance to the lender, increasing the chances of recovering funds even if the market heads south.

Binance and PNUT

The exchange initially embraced the squirrel-themed meme coin in mid-November, listing it with a seed tag. The move was one of the factors fueling a massive price increase for the asset. 

A few days later, the firm doubled down on its support, adding the trading pairs PNUT/BRL and PNUT/EUR to its Binance Spot program. 

To the uninitiated ones, Peanut the Squirrel saw the light of day at the start of November. It is inspired by a pet squirrel named Peanut, which reportedly bit a Department of Environmental Conservation (DEC) worker during a seizure operation and was later euthanized to test for rabies.

Its death sparked significant controversy, with many arguing that the action was unnecessary, as the animal had been living indoors for years without any signs of illness. Among the critics was Elon Musk, who called the move a “government overreach” and claimed that “Donald Trump would save the squirrels.”

The huge interest in PNUT (along with other elements) drove a significant price surge, allowing some early investors to make millions by strategically timing their entries and exits. If you’re curious about how one trader transformed a $17 investment in the meme coin into over $3 million, check out our dedicated video below:

Bitcoin (BTC) could hit a peak of $290,000 in early 2026 if it repeats the price action seen during the 2017 bull run, according to the latest edition of the “Bitfinex Alpha” report.

The projection is based on historical price patterns during bull cycles, institutional adoption, and key technical indicators.

Following its bear market low in November 2022, Bitcoin rebounded strongly with a 155.5% gain in 2023. The momentum carried into 2024, with BTC trading between $55,000 and $70,000 for most of the year and posting a 143% year-to-date gain.

The current bull cycle began in mid-to-late 2023, bolstered by anticipation of Bitcoin’s 2024 halving event, which historically precedes a bullish year.

Additionally, the report attributes the strength of this cycle to institutional buying pressure and the launch of spot Bitcoin exchange-traded funds (ETFs) in the US, which have provided consistent demand and limited the scale and duration of market corrections.

Cycle patterns

In the 2017 cycle, Bitcoin’s largest correction was 33.2%, while the 2020 cycle saw a 27.1% drawdown. In the current cycle, corrections have been more contained due to growing institutional interest, further enhancing market stability.

A key tool for predicting Bitcoin’s price peaks, the Pi Cycle Top Indicator, has historically marked cycle highs with remarkable accuracy. The indicator tracks the relationship between the 111-day moving average (111DMA) and a multiple of the 350-day moving average (350DMAx2).

In prior cycles, when the 111DMA crosses above the 350DMAx2, Bitcoin has typically reached a significant price peak. The report highlighted that this crossover could occur as early as June 29, 2025, if the 2021 cycle pattern repeats or as late as Jan. 28, 2026, in a scenario mirroring the 2017 extended cycle.

Price projections

Based on historical performance, Bitcoin has peaked significantly above its moving averages during bull runs. In 2017, it traded three times the value of its moving averages at its peak. However, returns have diminished as BTC matures, suggesting more conservative price projections.

According to Bitfinex, if Bitcoin follows the 2021 trajectory, it could increase 40% above its moving averages and reach a price of around $339,000.

However, considering the subdued returns, Bitcoin may rise 15% to 20% above its moving averages, placing its peak in the $160,000 to $200,000 range by mid-2025. Meanwhile, in the less likely event that the 2017 cycle repeats, Bitcoin could peak at approximately $290,000 by early 2026. 

While historical indicators suggest the most likely scenario is a peak between $160,000 and $290,000, the path to these heights will depend on market maturity, ETF adoption, and broader macroeconomic conditions, the report said.

Mentioned in this article

The Federal Court of Australia has imposed an $8 million fine on Bit Trade, the operator of the cryptocurrency exchange Kraken in the country, for offering an unapproved margin lending product to local customers.

The penalty follows allegations by the Australian Securities and Investments Commission (ASIC) that the firm violated financial regulations by failing to assess customer suitability for the product.

Legal Implications

The credit facility, which enabled users to leverage borrowed funds as investments backed by digital assets like Bitcoin or national currencies as collateral, was issued without a Target Market Determination (TMD).

A TMD ensures that financial offerings are appropriately targeted to consumers based on their needs and circumstances. ASIC argued that Bit Trade offered the product to more than 1,100 Australian clients without this document in place.

Between October 2021 and August 2023, 1,163 customers paid over $12 million in fees and interest for the product, with the total number of users likely higher as it remained available until August 2024.

Justice John Nicholas, who delivered the penalty decision, emphasized the severity of Bit Trade’s rule-breaking, stating they were “serious and motivated by a desire to maximize revenue.” He criticized the company for not addressing compliance issues until the regulator raised concerns, calling its system “seriously deficient.”

The financial watchdog reported that people lost a combined $7.85 million due to the product, with one investor losing nearly $6.3 million. On top of the fine, Bit Trade was ordered to cover ASIC’s legal costs.

Regulatory Implications and Industry Reactions

ASIC Chair Joe Longo described the ruling as a pivotal decision that shows the importance of TMDs in protecting consumers from harmful financial offerings.

Longo stated, “This significant outcome is a reminder for digital asset firms to consider their regulatory compliance obligations.” He added that many virtual currency products fall under existing laws and must be designed and marketed responsibly to safeguard Australian investors.

Meanwhile, a Kraken spokesperson expressed disappointment with the court’s ruling, calling for tailored cryptocurrency legislation to address the regulatory uncertainty facing the sector.

The company previously criticized the existing rules after the court ruled against Bit Trade in September, stating that the judgment revealed inefficiencies in the country’s crypto regulations. Kraken voiced support for updates to current laws but raised concerns about delays in implementing such changes.

The Australian regulator recently began consultations with the crypto industry to refine its approach. The body is seeking input on updates to its digital asset guidance, including clarifying when such assets fall under current rules.

Meanwhile, opposition treasury and financial services spokesperson Luke Howarth accused the government of leaving the sector in “regulatory limbo.” He argued that ASIC’s actions risk preempting comprehensive legislative reforms, potentially slowing growth in the Australian crypto market.