Connect with us

24/7 Cryptocurrency News

Coinbase Reveals Plan To List Solana’s Moo Deng, Price Surges 70%

Published

2 days ago

on


Coinbase, a leading crypto exchange, has announced its plan to list Moo Deng (MOODENG), a meme coin on the Solana network, as part of its asset expansion strategy. This decision underscores Coinbase’s commitment to offering a diverse range of digital assets, providing traders with broader opportunities for engagement in the cryptocurrency ecosystem.

Moo Deng Price Surges 70% Following Coinbase Listing Plan

Following Coinbase announcement, Moo Deng (MOODENG) experienced a remarkable 70.31% surge in price within 24 hours, reaching $0.6123. The sharp increase reflects a boost in market enthusiasm, likely spurred by Coinbase’s influence as a major trading platform.

The trading activity surrounding Moo Deng also experienced a notable uptick. Within the same 24-hour period, the token’s trading volume rose by 400%, reaching $751 million. This rise indicates heightened investor interest and a wave of activity among traders.

However, it is essential to note that while the exchange has included Moo Deng in its roadmap, trading and transfers for the token are not supported until the official listing is announced. This practice ensures compliance with regulatory and technical preparations required for asset integration.

The Moo Deng meme coin operates on the Solana blockchain, a network known for its efficiency and scalability. Simultaneously, the top exchange also included QCAD, an ERC-20 token from the Ethereum blockchain, in its roadmap.

Experimental Label and Asset Hub Standards

More so, Coinbase recently introduced an Experimental label, which may apply to newly listed assets, including Moo Deng. This label indicates assets that are in the early stages of adoption or testing, providing transparency to users about the nature of the assets.

In line with its Asset Hub initiative, Coinbase aims to list every asset that meets its legal, compliance, and technical security standards. These criteria are focused on the integrity of the platform rather than the market capitalization or popularity of the tokens. 

Last month, FLOKI price rallied after being added to the top exchange listing roadmap, reaching a five-month high. The inclusion sparked increased interest among traders, with the token gaining 12% in 24 hours and nearly doubling over the week. 

Most recently, the Solana meme coin price soared 26% following its listing on the Asian crypto exchange OKX.

At press time, Moo Deng (MOODENG) price experienced a slight decline but remained strong, trading at $0.5402. The token has maintained significant gains following the announcement, with a 50% increase in price over the last 24 hours.

 

✓ Share:

Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

24/7 Cryptocurrency News

John Deaton Highlights 4 Key Actions New US SEC Must Take

Published

2 hours ago

on

December 5, 2024

By


Pro-XRP lawyer John Deaton has outlined four key reforms he believes the incoming U.S. Securities and Exchange Commission (SEC) Chair, Paul Atkins, must implement to improve crypto regulation. Deaton, a strong critic of the SEC leadership under Gary Gensler, called for changes to make the agency more transparent toward the crypto industry.

John Deaton Urges Immediate Reforms at SEC, Calls for Action from Paul Atkins

In a recent blog post on X, John Deaton emphasized the urgent need for reform at the SEC, particularly under the leadership of Paul Atkins. Deaton called on Atkins to take decisive action on Day 1, starting with the firing of individuals involved in the Debt Box fiasco. 

He pointed to the necessity of removing officials who had engaged in misconduct under Gensler’s leadership. Deaton stressed that if Atkins doesn’t take immediate steps to replace certain SEC personnel, it would indicate he was not the right choice for the role.

The Pro-XRP lawyer stated,

“If Paul Atkins doesn’t fire, or at least demote, certain individuals and completely dismantle – that is, do away with – the crypto unit, he’s not the right pick. Period!”

Deaton also highlighted the importance of reshaping the SEC’s leadership to better align with a pro-crypto agenda. He argued that Paul Atkins should not inherit the appointments made by Gensler, stating that a fresh perspective was needed. 

This includes appointing individuals who can foster a balanced regulatory environment that supports innovation while protecting investors. Deaton’s comments reflect a broader desire for a leadership change within the agency, particularly after Gensler’s tenure.

However, earlier on, the XRP lawyer expressed support for the new SEC Chair, Paul Atkins, praising his pro-crypto stance and commitment to reducing regulatory burdens. Deaton emphasized that Atkins’ leadership would restore balance and transparency to the SEC

Crypto Unit Dissolution Proposal

In his call for reform, John Deaton advocated for the complete disbandment of the SEC’s crypto unit. He argued that the existence of a separate crypto unit was unnecessary and that the SEC should instead operate a general fraud unit that handles all types of fraud. Deaton emphasized that this change would streamline regulatory efforts and prevent overreach by the agency.

Deaton also suggested that Paul Atkins make clear on Day 1 that decentralized finance (DeFi) and self-custody should not fall under the SEC’s jurisdiction. 

In addition, Ripple CEO Brad Garlinghouse expressed strong support for the new US SEC Chair. Garlinghouse echoed John Deaton’s sentiments regarding the need for clearer regulations and less hostility toward the crypto industry.

✓ Share:

Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

Fed Chair Jerome Powell Compares Bitcoin To Gold

Published

6 hours ago

on

December 4, 2024

By


Federal Reserve Chairman Jerome Powell has broken silence on the broad comparison between Bitcoin, Gold and the US Dollar. Speaking at the Dealbook Summit, he revealed that Bitcoin is a speculative asset that has a closer correlation to Gold rather than the US Dollar.

Settling the Bitcoin Versus Gold Feud

The Fed Chair shared his take on this analogy while speaking with CNBC’s Andrew Ross Sorkin. His statements directly address Bitcoin proponents who believe the coin could displace the US Dollar. Rather than the tag it along USD, Jerome Powell said BTC’s major competitor is gold and not the greenback.

This statement is stirring a debate in the broader market on what this means for the strategic Bitcoin reserve plan President-elect Donald Trump is nursing.

This is a developing story, please check back for updates!!!

 

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

Top Analyst Confirms Altcoin Season, What’s Next for XRP, SOL, HBAR, and SHIB?

Published

16 hours ago

on

December 4, 2024

By


The crypto market cap hits a new all-time high (ATH) today, surpassing the $3.50 trillion landmark. The Altcoin Season Index by platforms including Blockchain Center and CoinMarketCap indicated the market has entered altcoin season, with confirmation from one of the top analysts Markus Thielen, CEO of 10x Research. With Bitcoin price in consolidation mode, crypto such as HBAR, XLM, XRP, SUI, ALGO, and OM have led the rally in the last 3 months. Bitcoin dominance has dropped to 53.80% today.

Altcoin Season Driving Rally in XRP, SOL, HBAR, SHIB

The crypto market is witnessing a FOMO and panic simultaneously, reports 10x Research on December 4. Top analyst Markus Thielen confirmed that altcoin season has priced-in and the trend will sustain and potentially expand trading opportunities.

Besides, several altcoins have climbed in the altcoin season rally after Bitcoin retraced from the $99,700 range. BTC price now exchanged hands at $96K. HBAR has recorded an over 600% rally, XLM and XRP followed with over 500% and 400% price growth in the last 90 days.

Notably, the Altcoin Season Index has hit 86 today, signaling a massive sentiment towards further gains in altcoins. Markus Thielen expects the demand for crypto tokens will likely continue until Donald Trump’s inauguration in January.

Altcoin season indexAltcoin season index
Altcoin Season Index. Source: Blockchaincenter

South Korea Driving the Altcoin Season

According to 10x Research, retail-focused trading volumes in South Korean crypto market have surged immensely. In the past 24 hours, it surged to almost $34 billion, marking the highest level. This comes as South Korean President Yoon Suk Yeol declared emergency martial law. He now faces impeachment for his decision.

Ripple (XRP) led the trading volume, followed by Dogecoin (DOGE), Stellar (XLM), Ethereum Name Service (ENS), Hedera (HBAR), and Shiba Inu (SHIB). These high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends.

What’s Ahead For XRP, SOL, HBAR, and SHIB?

The market rotation for Ripple XRP surge shows no signs of slowing down, said Markus Thielen. He added that the rally stands out as “one of the most extraordinary developments in the crypto market this year.”

Further, XRP market cap has now surpassed $150 billion to become the third-largest crypto. This explosive move followed a breakout from a long-term triangle pattern, catalyzed by the U.S. election.

XRP priceXRP price
Source: 10x Research

As altcoin season has arrived, Ethereum and Solana are likely to drive the crypto market again. However, the current trends indicate rotation to XRP and other breakout crypto.

Ethereum price will gradually surpass the $4000 level if it breaks above $3800 resistance. On the other hand, Solana price will rally toward $400 and $600, as per crypto analysts.

HBAR price trades at $0.329, down 5% in the last 24 hours. The trading volume has decreased by 33% amid profit booking by traders. However, traders are bullish on Hedera amid multiple partnerships and developments amid altcoin season. HBAR price is anticipated to hit $0.57 next year.

Shiba Inu price jumped 4% in last 24 hours, with the price currently trading at $0.00003039. The trading volumes on both spot and derivatives market have surged in the last 24 hours.

Shiba Inu lead developer Shytoshi Kusama spotlighted upcoming dog-themed meme coin SHIFU coin launch. He also hinted at the TREAT token launch near Christmas. The developments could further trigger a rally in SHIB prices.

✓ Share:

Varinder Singh

Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon