As the 2024 bull run gains momentum, investors are on the lookout for cryptocurrencies with the potential for significant growth. This selection highlights four promising picks that could multiply wealth during this exciting phase of the market.

TRUE Token: Revolutionizing Crypto in iGaming for Unprecedented Gains

TRUE token (TFT) is a new GameFi project that aims to surpass the success of the once-popular Notcoin. TFT is currently available through an exclusive NFT Token Offering (NTO), offering early adopters the opportunity to significantly boost their investment. The NFTs distributed contain a portion of TRUE tokens, ranging from 100 to 500,000 TFT, at substantial discounts. The NTO ensures that your allocation is 100% guaranteed, secure, and manageable. Additionally, NFT holders gain exclusive TRUE membership and entry into a prize draw for $330,000 in extra tokens, 10 ETH, status cards, merch, and tokenized partner gifts.

TRUE, with six years of experience in game and blockchain development and significant backing of over $3.45M raised, led by SoftSwiss, is well-positioned in the iGaming sector. With more than 4M active players and 16,000 third-party games interested in its blockchain service, TRUE has remained profitable even in challenging markets, setting a strong foundation for TFT post-token generation event. As TRUE’s value is expected to benefit from the activity within the upcoming TRUE World iGaming metaverse, set to attract millions of users, now is the ideal time to secure your TFT allocation before it takes off.

NEAR Protocol: Performance and Outlook

NEAR Protocol has experienced fluctuations recently, with a current price range between $6.73 and $7.98. While it dipped by almost 8% in the past week, it has risen by over 50% in the last month and more than 500% over the past six months. The price movements of NEAR appear mixed, with periods of rapid growth followed by smaller changes.

The near resistance at $8.67 could pose a challenge, but with sufficient momentum, NEAR could aim for the higher resistance at $9.91. Conversely, if it experiences a decline, it may find support at $6.18 or even lower at $4.93. The mixed outlook suggests that NEAR’s price may experience both upward and downward movements in the near future.

Avalanche: Trends and Price Prediction

Avalanche (AVAX) has witnessed significant price swings over the last six months, surging by 341.12%. While it climbed 9.08% last month, it dropped by 13.05% last week. Currently trading between $51.34 and $58.12, AVAX appears to be in a corrective phase, with the RSI indicating a neutral stance, suggesting that the price may not move sharply in either direction soon.

Looking ahead, there is potential for growth if AVAX surpasses the near resistance at $62.13, with further gains possible if it breaks the higher resistance at $68.91. However, if buying pressure subsides, the price could fall to the nearest support at $48.57 or even the lower support at $41.79. The high Stochastic value at 84.48 indicates a possible consolidation phase. AVAX’s recent price movements suggest that it may continue to experience fluctuations in the short term.

Solana: Price Range and Prediction

Solana’s price has been fluctuating recently, ranging between $187.30 and $210.62. While it saw a slight dip of 0.46% in the past week, it has surged by 39.08% over the last month and an impressive 691.63% over the past six months. Currently, the price movements appear corrective, with the Relative Strength Index indicating a balance between buyers and sellers.

Looking ahead, SOL has the potential for growth, with the nearest resistance level at $218.61. If it breaks through, the next target could be $241.93. On the downside, SOL is likely to find support near $171.97 and then at $148.65. The mixed signals from Stochastic (42.10) and MACD (-0.89) suggest a cautious approach.

Conclusion

While NEAR, AVAX, and SOL show potential for upside, they may not match the short-term potential of other options. The standout choice is the TRUE token (TFT), which is poised for significant growth in the iGaming metaverse. TFT’s innovative NFT Token Offering provides unique investment opportunities, and its solid foundation sets it up for success in the upcoming bull run.

Featured Image: Freepik

Please See Disclaimer

Ripple’s Chief Legal Officer, Stuart Alderoty, has delivered a scathing critique of Gurbir Grewal, the Director of Enforcement at the Securities and Exchange Commission (SEC), regarding comments made about the compliance efforts within the crypto industry.

During a recent SEC event, Grewal suggested that the burgeoning crypto sector was employing various tactics to circumvent regulatory oversight, such as relocating or registering in different jurisdictions. He also addressed concerns regarding the SEC’s regulatory approach, refuting allegations of overreach and exceeding its regulatory mandate.

Alderoty, however, highlighted the inconsistencies in Grewal’s remarks, pointing out instances where the SEC had potentially overstepped its bounds and abused its authority. He specifically mentioned the DebtBox sanctions for “gross abuse of power,” a Ripple judge’s criticism for lacking “faithful allegiance to the law,” and the “arbitrary and capricious” ruling in the Grayscale case.

Moreover, Alderoty criticized the SEC’s erratic application of the Howey test, a standard used to determine whether certain transactions qualify as investment contracts. He noted that the SEC’s guidance on the Howey test, still present on its website, fluctuates arbitrarily, leading to confusion and inconsistency within the industry.

According to Alderoty, the SEC must address these concerns to restore credibility and trust. He urged the regulator to acknowledge and rectify the institutional damage inflicted by its approach to crypto regulation, emphasizing the necessity for enhanced transparency and accountability.

In conclusion, Alderoty emphasized that if the SEC genuinely aims to mend the institutional harm caused during what he termed as a “misguided war on crypto,” it must confront these truths and adopt a more responsible and balanced regulatory stance.

Featured Image: Freepik

Please See Disclaimer

Oppenheimer, a New York-based financial firm, has revised Coinbase’s share price target to $276, marking a notable increase from the previous target of $200, while maintaining its buy rating.

The new price target of $276 represents a roughly 10% surge from Wednesday’s closing share price of Coinbase, which stood at $251.58.

Owen Lau, Executive Director at Oppenheimer, highlighted the ongoing adoption of digital assets, particularly following the approval of spot bitcoin ETFs in January. Lau projected a significant increase in Coinbase’s 1Q24 trading volume, estimating a 95% quarter-on-quarter and 107% year-on-year rise to $300 billion.

Additionally, Lau pointed out the growing liquidity in the space, with USDC’s market capitalization witnessing a 12% uptick between the first quarter of 2024 and the last quarter of 2023.

According to Oppenheimer, the sustained adoption of digital assets and blockchain technology positions Coinbase as a key beneficiary in the cryptocurrency sector over the long term.

Lau emphasized that the upward revision of the price target for Coinbase shares reflects the company’s improved fundamentals and higher trading revenue. Factors such as strong inflows into spot bitcoin ETFs, the halving, and increased retail participation contribute to this growth. However, Lau noted that Coinbase’s Base Layer 2 wasn’t a significant revenue driver factored into the increased target price for the stock.

In pre-market trading on Thursday, Coinbase shares surged by 3.29% to $259.85 as of 8:56 a.m. ET. Since the beginning of the year, the cryptocurrency exchange’s share price has climbed more than 44%.

Featured Image: Unsplash

Please See Disclaimer

PayPal has unveiled a new service allowing its U.S. clients to conduct cross-border money transfers utilizing the company’s PYUSD stablecoin.

Commencing Thursday, users of the company’s international payments service, Xoom, based in the U.S., can convert PYUSD to USD and subsequently send funds to “recipients in approximately 160 countries” without incurring transaction fees, PayPal stated.

Silicon Valley-based payments behemoth PayPal is once again expanding the utility of its PYUSD stablecoin, aiming to facilitate more efficient international transactions.

The move signifies PayPal’s confidence in the market’s appetite for more cost-effective methods of sending international money transfers. Referencing a World Bank report, PayPal noted that the “global average cost of sending $200 is just over 6%.”

In addition to promoting the use of its stablecoin, launched last year, PayPal aims to establish itself as a reputable entity in the realm of digital assets, aligning with the evolving landscape of cryptocurrency adoption worldwide.

Jose Fernandez da Ponte, PayPal’s Senior Vice President of the blockchain, cryptocurrency, and digital currency group, emphasized the significance of enabling U.S. Xoom users to fund cross-border money transfers using PYUSD, furthering the company’s objective of mainstream cryptocurrency adoption.

Amid PayPal’s announcement, the stablecoin market appears to be gaining momentum. Ripple recently disclosed its plans to introduce a stablecoin primarily targeting enterprise clients, foreseeing the stablecoin market potentially reaching $2.8 trillion by 2028.

Presently, Tether’s USDT and Circle’s USDC stablecoins dominate the market in terms of supply, according to data from The Block Data Dashboard.

Featured Image: Megapixl

Please See Disclaimer

Ethena Labs has announced the addition of bitcoin as a backing asset for its USDe synthetic dollar, tapping into the growing enthusiasm for the world’s oldest digital asset among traders.

The decentralized finance (DeFi) protocol stated in a series of updates that anchoring USDe with Bitcoin will facilitate significant scalability, multiplying its capacity by more than 2.5 times and enhancing safety measures for traders. This strategic move arrives as bitcoin derivative markets outshine their ether-based counterparts.

“With Ethena’s scaling trajectory nearing $10 billion, this enhanced backing provides a more resilient foundation, ensuring a safer environment for users,” the protocol remarked, noting that the current supply of USDe is valued at around $2 billion.

Ethena also highlighted Bitcoin’s superior liquidity and duration profile for delta hedging compared to liquid staking tokens as a key factor in the decision to incorporate it as a backing asset.

Previously, USDe was solely supported by staked ether (ETH), as indicated on Ethena Labs’ website. However, heightened trader interest in Bitcoin prompted the protocol’s adjustment.

Ethena noted a substantial surge in bitcoin open interest, which soared by 150% to reach $25 billion over the past year, leading to more than doubling USDe’s scalability potential. In contrast, ether’s open interest grew by 100% to $10 billion during the same period, according to data provided by the protocol.

Bitcoin’s robust demand coincides with its remarkable surge in speculative value, currently trading at $68,384 according to The Block’s price data, marking a 4% increase over the past 24 hours.

Featured Image: Freepik

Please See Disclaimer