Hey, frenz! Today is April 20. So, it means it’s Doge Day! 🐕 Woof! It might be a coincidence, but today, Elon Musk’s Starship rocket was relaunched (not so well).
Now, let’s get to more about the interesting topics, which we have diligently created for you:
- What is occurring with the BTC price?
- What’s the PEPE phenomenon?
- US regulation pushes crypto offshore;
- Polymesh is now on Binance. Why would it be beneficial?
- Ripple (XRP) has a chance to double in price;
- How to participate in the free mint project, Wootch;
- And a chance for you to win ETH!
And here’s a quick compilation of the top news stories to keep you updated:
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- EU lawmakers voted in favor of the Markets in Crypto Authority (MiCA), which could usher in a new era of cryptocurrency regulation across the board. They also voted in favor of a law that would require cryptocurrency operators to identify their customers (KYC).
- The Call of Duty developers will release the Kaidro game on the blockchain ImmutableX this year.
- The SUI mainnet will be launched on May 3.
- The company a16z has announced its own Layer 2 solution called Magi. The product was developed in the Rust programming language to improve the OP Stack ecosystem.
- Binance has become a node operator on Polymesh and will launch POLYX stacking by the end of this week.
- Lookonchain: a wallet that was last active on December 19, 2013, woke up and moved all of its 2,071.5 BTC (worth about $61 million).
- Elon Musk is threatening a lawsuit against Microsoft. He claims that the company illegally collected Twitter data and used the information to resell and train AI language models, in particular for ChatGPT.
- Regulators and the U.S. government reached an agreement to sell $1 billion worth of Voyager assets to the Binance US exchange.
- EigenPhi: the PEPE and WOJAK meme coins have become the most popular trading objects on the Ethereum network after WETH, USDC, and USDT in the past week.
🧐 What is happening to the Bitcoin price?
Today repeats yesterday’s negative scenario of profit-taking by the big players, and as a consequence, there is a dump in the Bitcoin price.
- This morning, in just one hour, someone sold about $2.1 billion worth of Bitcoin futures:
- Yesterday, after the BTC drop, the price stabilized at $29k. But after this massive sell-off, Bitcoin’s price rebounded back to $28k, bringing the cumulative volume of liquidations during the day to over $300 million. Binance recorded the largest amount of liquidations at $49.9 million.
- The total capitalization of the cryptocurrency market fell below the $1.3 trillion mark, dropping 5% in 24 hours. Bitcoin lost more than $20 billion of its capitalization in the past three days.
📍 U.S. regulation pushes crypto offshore
The United Arab Emirates will begin accepting license applications from cryptocurrency companies wishing to operate in the country. Dubai officials also add that they are discussing close cooperation with Hong Kong on virtual assets.
Hong Kong has previously become a leading crypto offshore that has already welcomed crypto companies from around the world, licensing them and giving them access to the banking system. Yesterday, U.S. senators criticized the SEC chairman, blaming him for the exodus of crypto companies from the U.S. because of inconsistent regulation.
Coinbase is running front-page ads in the Financial Times in the US in a desperate attempt to draw attention to the problems of crypto businesses in the US that are forced to flee to other countries.
🐸 Two important facts about PEPE
The crypto space has seen a sudden surge in the popularity of the new #PEPE token. The coin, created four days ago under the name PEPE, reached a market capitalization of $150 million and has grown 250% in the last 24 hours. Technically, PEPE has grown 110,000% since its launch on Sunday.
- An interesting method of promotion has been chosen: a viral story of a simple trader who allegedly turned an initial $250 in four days into millions of dollars is circulating in the crypto community, and it is fueling interest in the token among the crowd. No evidence of the colorful story has been found; most likely, the story is advanced marketing. However, Twitter has even more fantastic stories of people making money from #PEPE.
- Huge premine: most of the token supply is concentrated in just six wallets, each containing #PEPE > $1 million. This level of centralization is troubling because the owners of these wallets can greatly influence the price of the token. It has been observed that these #PEPE holders received their tokens almost simultaneously, just four days ago. This unusual coordination raises questions about possible market manipulation and the presence of insiders.
 🔔 Short-term speculation on #POLYX
Binance becomes a node operator on Polymesh and will allow #POLYX tokens to be placed through its platform (not only listing but also staking) by the end of this week. So far, the price of #POLYX has jumped 30% in the last 24 hours; however, the main growth is expected when Polymesh launches on Binance soon.
Polymesh is a blockchain that distributes tokenized security assets that are fully legal for investment.
 🔔 Ripple (XRP) could double in price
Ripple is a cryptocurrency payment system platform focused on non-refundable currency exchange transactions. XRP is a cryptocurrency used by Ripple.
Although XRP is not highly appreciated among true cryptomaniacs, the token has been showing growth lately. P_S_trade analysts expect XRP to double in value. However, if certain conditions are met, XRP buyers could keep the price above $0.44-0.45, which would push it to $0.75-0.78.
 🔔 Wootch’s raffles
Wootch is a free mint project with 3 stages of reveal. Additional utilities will be announced closer to the mining date.
- Supply: 796
- Mint price: Free
- No overlocks
- Connect wallet
- Connect Discord
- Connect Twitter
- Follow: The New ERA NFT, Wootch, Nenachtosmotret, Ten1Sion, Degen Penna, Tangerine NFT, ONEONE.HK, 10000 NFT Club
- Like and retweet Wootch’s tweet.
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We’ll get through anything, guys! To the moon!