Daily Archives: March 21, 2024

Crypto market climbs: GRT Price 56% explodes CRO poised for break out

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Cornos CRO and The Graph GRT are showed as promising altcoins with huge price climbs.The US Fed holding interest rates slowly with potential cuts in 2024 is seen as positive for crypto investment.

The total crypto market cap rised 10% to 2.65 trillion dollar with Bitcoin climbing 7.6% and Ethereum 10%.

The cryptocurrency market Ethereum ETH and Bitcoin BTC is balanced for huge rally in near future.

Over the past 24 hours leading up to Thursday London session, the cryptocurrency market cap rised by 10 percent to $2.65 trilion.

Bitcoin climbed by 7.6 percent regaining the $67k mark and triggering over $318 million in crypto liquidations.

Cronos

Cronos an exchange based altcoin compatible with Ethereum ecosystem is experiencing stages of its second bull run.

CRO price has showed higher spikes and falls show an upward trend. Midterm target set around 50 cents, CRO is poised to overcome opposition around 18 cents in near future show opportunities for investors.

Causes for Crypto Rebound

The latest shift in monetary policy by Bank of Japan is have a mega impact on the cryptocurrency market with investors turning towards quality investments.

GRT price against the USD is balance to rally towards $1.2 in near future. The RSI has surpassed the 70 level, showing bullish momentum.

THe US Federal Reserve made a decision to control its interest rate between 5.50 and 5.25 percent. US dollar inflation economist are forecasting 3 interest rate down during latter half of this year.

Altcoin market is balance to follow suit showing chances. Layer one L1 projects and leading DeFi based tokens are drawing attention as investment targets.

 

Who is the lady behind Solana Hit Meme Coin Donald Tremp

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TREMP was minted on Feb 28 at first price of few fractions of penny. It has run to highs of 63 cents and sits at 2 cents on Wednesday giving the tokens a market capitalization of $22 million. Nearly 20,000 individual hold token.

Original create behind the project leave after it release selling their holding when the project was in its infancy.

Community members like of B and other took reins shortly after leading to whats famous called a community takeover in crypto circles.

B a woman who is from UK and works in tech marketing view the fought for token value between these coins as a blockchain election.

She said ” I think that having a crypto election at same time as real life election is something that is never really done before in crypto space”.

Political finance PoliFi meme coins from TRUMP to TREMP are deep in red but the lady running the show at latter who goes by handle B is still having fun.
A plethora of politician themed meme coins have minted on Solana and all have some liking to Spoderman meme poorly drawn version of Spiderman on MS Paint that pays homage to Dolan a version of Donald Duck with attitude error with misspelled names.
TREMP is not the only Trump themed PoliFi token, MAGA on Ethereum which has mega market cap and held in former President official wallet.
B is a Trump supporter the project is not about partisan conviction but memes, community and having fun. B believes Trump has support of crypto community because of opposition to Democrat tax policy.
Meme coins like BODEN and TREMP have been minted on Solana and price of SOL has spike 60% more than last month.
3fn B partner in TREMP project explain these memes tokens use Solana due to its low transaction fees, community and rapid speeds.
Ethereum would not work due to its high fees genesis of Solana and its competitors in first place.
B and 3fn added that these critics are missing the major point. Yes it seems silly but PoliFi coins now have a market cap of $220 million.
This is crypto so it is reasonable to create a category trading on names of politicians and worth hundred of millions of dollars.

Dogecoin rises 18% on DOGE Future hopes Bitcoin reaches $68K

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Crypto markets experienced volatility overnight as bitcoin and ether tumbled before recovering to trade 15% higher than their Wednesday lows.

Crypto markets down then climbed as regulatory headwinds and macroeconomic factors played their hand in a rollercoaster 24 hours.

Emotions changed after US Federal Reserve Chair Jerome Powell FOMC speech leading to a spike in BTC, ETH and other mega tokens particularly those of 2 layer platforms and meme coins.

Wednesday fall was due to profit taking from previous week rally and flush of leverage bets on inflated prices with few traders suggesting technical downfall.

The inherent volatility of crypto market was on display overnight as bitcoin BTC and ether ETH downfall, then recovered to trade as much as 15% ris above Wednesday fall.

Tokens of layer 2 platforms or blockchains based on Ethereum led as sector with average spike of 25% in past 24 hours.

ETH and BTC spike as much as 11% in past 24 hours. Solana’s SOL Cardano’s ADA and BNB Chain’s BNB added as much as 8%.

Meme coins followed with a 16% jump.

Dogecoin DOGE climber 18% after March 7 filing from prominent crypto exchange. Few traders think the move as possible precursor to spot DOGE exchange traded fund ETF.

Singapore based trading firm QCP Capital added that buying was led by spot transactions a better reflection of demand than futures led trading which is more speculative.

On Wednesday markets slip in early Asian hours amid profit taking from previous weeks rally and flush of levered bets on high prices.

Overall capitalization down 15% in past week.

Market reversed later in the day after US Federal Reserve Chair Jerome Powell FOMC speech hit a dovish tone.

The central bank keep its outlook for 3 rate cuts this year despite hotter than expected inflation figures.

Terraform Labs Do Kwon lost appeal against South Korea Extradition

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A court in the Balkan country of Montenegro has rejected the appeal of cryptocurrency firm Terraform Labs. Co founder Do Kwon to block his extradition to South Korea where he will face several criminal charges.

Do Kwon is going to South Korea to face fraud charges related to Terra Luna crash. A montenegro court rejected his lawyers appeal to not extradite him on Wednesday. The Terraform Labs co founder is sought by US authorities.

He faces fraud charges in South Korea related to The Terra Luna collapse which wiped out estimated $60 billion in 2022.

Both South Korea and US have petitioned for Kwon extradition.

Its official Montenegro authorities will extradite Terraform Labs co founder Do Kwon to South Korea.

The court decision will be sent to the US authorities but it will not postpone the extradition. This decision is ultimate and defendant will be extradited to South Korea.

Kwon lawyer said

” We are satisfied with the decision of the Appellate Court which show that principle of the rule of law is respected, unlike other state bodies that participated in this extradition procedure. ”

The US sought Kwon extradition for securities fraud and charges but Kwon lawyer appealed a court ruling to send him there.

Montenegro lawmakers determined South Korea request came first and ruled to send him to his home country.

Kwon was arrested last March on a tarmac in Montenegro for possession of fake Costa Rican passport.

Kwon pleaded not guilty to charges of attempting to travel with false documents but the court found the businessman guilty and sentenced him to 4 months in prison in Montenegro.