The Brazilian tax department report said that the country’s Tether (USDT) trading volume proliferated since 2021. Tether stands out among other stablecoins and has surpassed the volume of Bitcoin (BTC) during the same period.

“Among the stablecoins, the cryptocurrency called Tether stands out, which in the period observed by the tax authorities was traded at an accumulated level of more than R$271 billion, almost double the volume of Bitcoin in the same period (more than R$151 billion).”

According to data from Brazil’s revenue service agency, 80% of cryptocurrency transactions in the country are related to USDT. This makes it the most traded digital asset so far in 2023.

“Considering only partial data from 2023, 80% of the reported cryptocurrency movement is related to USDT,” the report revealed. Interestingly, the trading volume of the stablecoin has exceeded last year’s sum of all other cryptos traded.

The trend complements the recent warning from the International Monetary Fund (IMF). It noted that stablecoins “could potentially replace official currencies and significantly impact countries’ monetary policies,” especially in developing economies.

The Receita Federal do Brasil, has been tracking the growth in stablecoin using sophisticated techniques like AI and network analysis. The report says that the tool has just gained new functionality designed to represent relationships between operators.

Amid high inflation and steady devaluation of the Brazilian real, citizens have tripled the traded volume of stablecoins since 2021.

The tax authority previously reported that between January and November 2021, locals traded $11.4 billion in stablecoins. The trading volume was almost triple the total traded in 2020.

Brazil’s rising inflation is one of the factors that drove the phenomenon of stablecoin purchases. The country saw an inflation rate of 10.06% in 2021, the highest level since 2015.

Another reason is that Brazilians are forced to pay tax on financial operations – IOF in Portuguese – while acquiring foreign currency. The tax is however not applicable to stablecoins.

The USDT prevalence in Brazil contrasts with other Latin American nations like Argentina, where Maker’s DAI has received more attention.

The Russian FSB, the nation’s intelligence service, has charged a man suspected of donating crypto to Ukraine’s military with high treason.

The man, named Alexander Vechirko (54), was arrested by the FSB (Federal Security Service) in June this year – and, following a several months-long investigation, has now been formally charged with “high treason.”

In April this year, President Vladimir Putin signed a decree raising the penalty for treason-related offenses to life imprisonment.

Per Tass, Vechirko was born in the Ukrainian city of Vinnytsia, but is now a resident of the Khabarovsk Territory with Russian citizenship.

Vechirko is the first Russian to be formally charged with sending crypto donations to the Armed Forces of Ukraine.

The Ukrainian military has been appealing for token donations from international crypto holders since shortly after the start of the conflict.

Law enforcement agencies confirmed that Moscow’s Lefortovo Court also denied Vechirko bail, and ruled that he must remain in custody in the Lefortovo pre-trial detention center for a further three months ahead of his trial.

The FSB believes that Vechirko “used cryptocurrency” to “make transfers of his personal funds through third parties living in Ukraine.”

Will Russian Court Convict ‘Ukraine Crypto Donor’ of High Treason?

Vechirko was described as “an employee of Daltransugol,” a coal-producing company that has been hit with a raft of Western-led sanctions.

The coins were allegedly traced to “a [wallet] belonging to a foreign charitable foundation” and were allegedly used to “purchase unmanned aerial vehicles, thermal imaging sights, ammunition, and medical uniforms.”

The FSB says it is still its “operational search activities” and “investigation” into the case are ongoing, a suggestion that further details about the donation remain unknown.

It is significant, however, that Vechirko has been transferred to Moscow to face charges – a suggestion, perhaps, that the government intends to make an example of him.

But Vechirko may not be the last Russian to face similar crypto-related treason charges: Earlier this month, a notable social media influencer nicknamed Bitmama was arrested on fraud charges in Moscow.

In the ensuing investigation, the influencer (real name Valeria Fedyakina) was accused of stealing her clients’ money and sending it to Ukraine-based charities.

Fedyakina’s legal team denies that she sent money to the Ukrainian military, instead claiming that she supports Russia’s “special military operation” and actually wants to donate funds to the Russian armed forces.

Earlier this year, the mega-bank Sberbank claimed that over $5 million worth of crypto had been sent from Russian wallets to Ukraine-based recipients since the start of the conflict.

Terra Classic, colloquially known as LUNC, is currently trading at an impressive $0.000065. In the past 24 hours, this cryptocurrency has witnessed a slight dip of 0.25%, but has surged over 12% in the last 7 days underscoring.

According to CoinMarketCap, Terra Classic has secured its position at #94, boasting a substantial market capitalization of approximately $375 million . In terms of supply metrics, the market is awash with a staggering nearly 5.7 trillion LUNC coins in circulation.

However, details regarding its maximum supply remain shrouded in mystery. Witnessing an impressive surge of 12% over the past week, LUNC’s performance has turned heads and reignited the age-old debate: Is the sell-off truly behind us?

Here’s our take on the Terra Luna Classic price prediction and the dynamics at play.

Terra Luna Classic Price Prediction

Analyzing the daily chart reveals pivotal price levels that traders and investors should keep a close watch on. The pivot point for Terra Classic is precariously set at $0.00006721.

Notably, this isn’t just a random figure; it’s the 50% Fibonacci retracement level and also corresponds to the triple top pattern, a crucial technical indicator.

Moving upwards, the cryptocurrency encounters its first resistance at $0.00007033, synonymous with the 61.8% Fibonacci level. Beyond that, traders should keep an eye on the resistance level set at $0.00007464.

On the flip side, if Terra Classic were to face bearish pressures, its immediate support is established at $0.00006423, marking the 38.2% Fibonacci retracement level.

Deeper supports can be identified at $0.00006059 and then at $0.00005449.

Delving into other technical indicators, the Relative Strength Index (RSI) stands at 64. This is a clear indication of bullish sentiment.

For the uninitiated, an RSI reading above 70 typically signals an overbought condition, whereas anything below 30 suggests a potential oversold scenario.

Given Terra Classic’s RSI is comfortably seated at 64, it leans toward a bullish sentiment.

Summing Up

In conclusion, the overall trend for Terra Classic appears to be bullish as long as the price remains above the critical $0.00006059 mark. Conversely, slipping below this level might invite bearish tendencies.

Given the current market dynamics and technical indicators, Terra Classic might test the resistance level of $0.00007033 in the upcoming days.

As always, it’s imperative for traders and investors to stay informed and tread wisely in this volatile crypto landscape.

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Meme Kombat Presale Slice Through $850K

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^{Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.}

Billionaire investor Mark Cuban has stressed the need for a “grandma-friendly” crypto application that would attract widespread adoption.

In a recent episode of Wired’s “Tech Support,” Cuban, known for his role on “Shark Tank” and as the owner of the Dallas Mavericks, discussed various topics, including some challenges the crypto space faces.

He highlighted the common association of crypto with speculation, noting that its true potential lies in creating new applications that enhance convenience and efficiency.

The billionaire also mentioned the need for a “grandma-friendly” application that would attract widespread adoption.

He drew a parallel to the iPhone, which gained significant traction when popular apps like Instagram and Snapchat became available.

Cuban suggested that crypto is still waiting for its defining application that appeals to the masses.

“Think back to the iPhone. It came out in 2007, but it wasn’t until the best apps like Instagram and Snapchat and Facebook went mobile, that the App Store and the iPhone really took off. Crypto is still waiting for its Instagram moment.”

Regarding non-fungible tokens (NFTs), Cuban argued that the market is currently underperforming.

However, he drew comparisons to other industries, such as the internet stock market crash, when companies like Amazon and Microsoft experienced significant setbacks before rebounding.

“I’m not gonna tell you what you should or shouldn’t do, other than to say with NFTs, the best time to buy is when you’re a collector and you love the NFT,” he said.

Cuban Talks Wealth and Taxes

During the interview, Cuban also shared his insights on wealth, taxes, and the potential of cryptocurrencies.

For one, the billionaire emphasized the role of luck in achieving billionaire status, stating that luck plays a significant part in the journey to extreme wealth.

He debunked the notion that billionaires can easily replicate their success, highlighting the importance of fortunate circumstances in their achievements.

Expressing a strong belief in the responsibility of the super-rich, Cuban advocated for billionaires to pay higher taxes.

He acknowledged the contributions of the country and the infrastructure that enables success, emphasizing that paying taxes is a patriotic duty.

According to Cuban, wealth should be accompanied by a willingness to contribute to the betterment of society.

When asked how he would make money from scratch with limited resources, Cuban emphasized his sales skills.

He explained that he would seek a sales job and strive to become the best salesperson in the industry.

Cuban also discussed the potential business opportunities presented by technologies like Alexa and language models such as ChatGPT.

He suggested that individuals could leverage their knowledge of these technologies to provide services and training to others.

For example, teaching people how to optimize the use of Alexa in their homes or guiding businesses in utilizing ChatGPT for their operations.

“So if you just get involved and stay ahead, you’re gonna be the person in demand, selling your services on how to prompt ChatGPT to help a business, or even to tutor kids on how to best use it for school.”

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Hot new crypto sensation Chimpzee is moving toward the end of its presale. It has raised $1.7M out of its presale goal already. The token’s high relevance in the meme coin and sustainability markets has led to a surge in presale traffic over the last few days.

Each Presale Goal is Accompanied by a Donation

Chimpzee aims to accomplish predetermined objectives on completing new presale milestones as an illustration of its commitment to wildlife conservation.

For example, the project has contributed to reforesting the Brazilian rainforest with the planting of 1200 trees, donated $15,000 to the conservation of a last herd of desert-adapted elephants, and planted 20,000 trees in Guatemala.

On reaching its last presale milestone, Chimpzee announced a donation to aid the forgotten animals in war-torn Ukraine.

CONGRATULATIONS!
CHIMPZEE ACHIEVES ANOTHER RAISE GOAL!

Chimpzee is going to make a donation to the Forgotten Animals to help save these forgotten animals from war torn Ukraine and burn another 1 Billion tokens tomorrow dropping the total supply to 36 Billion tokens!

The… pic.twitter.com/VmBixxrpZ8

— Official Chimpzee Project (@RealChimpzee) October 22, 2023

While donations are dedicated to the larger good, each milestone is also accompanied by a token burn to benefit early investors. For example, the last presale milestone led to the burning of 1 billion tokens, effectively reducing the total supply to 36 billion tokens.

It is a part of Chimpzee’s ongoing effort to decrease the total supply of CHMPZ tokens. The burning mechanism is geared towards supporting favorable price dynamics for early investors.

The Fully Operational Chimpzee Shop Will Open Soon

A few days back, the Chimpzee Shop opened for exploration. It currently displays a variety of products like t-shirts, tank tops, and mugs that feature impactful messages that promote wildlife conservation and climate action.

With merchandise, Chimpzee aims to build a community of eco-conscious users and allows them to showcase their dedication to a greener future. The current version of the Chimpzee Shop is the first phase of a two-part opening.

In this current phase, the functionality is limited to browsing the diverse merchandise on the website and creating personalized shop accounts. The purchase functionality is disabled as of now. But after quality control tests and final negotiations with the payment provider, the fully operational shop will go live where users can buy Chimpzee gear and earn CHMPZ tokens as rewards.

Wildlife Conservation With a Blockchain Twist

Chimpzee demonstrates a deep commitment to the cause of wildlife conservation and revolutionizes the domain by introducing crypto incentivization and blockchain tokenization into the equation.

It has designated a portion of its profits to support legitimate environmental endeavors, partnering with organizations like WILD Foundation, Rainforest Rescue, The Giving Block, and One Tree Planted to name a few.

The executed initiatives as mentioned above have outpaced their planned roadmap.

As Chimpzee achieves new milestones in its ongoing presale, which has now exceeded the $1.7 million mark, the project will continue to contribute to more meaningful initiatives.

Another key pillar of Chimpzee is its reward system. In addition to staking, users can earn money from the platform by engaging with shop2earn, play2earn, or trade2earn platforms. They empower users to earn and track rewards.

One of these three platforms is the Chimpzee Shop. Within this ecosystem, users have multiple avenues to earn rewards beyond shopping, including participation in the Play-to-Earn and Trade-to-Earn sectors.

Environmentally conscious users can generate extra income while actively contributing to the conservation of our planet with Chimpzee. Chimpzee’s NFT marketplace is currently under development.

Crafted to Combat Volatility

Chimpzee has launched staking and burning mechanisms to ensure the stability of its value appreciation even in the face of frequent market ups and downs. It is designed to encourage NFT Passport holders by offering the prospect of rewards. While burning gradually reduces the token supply.

Both enable early investors to maximize their benefits as the project continues to grow.

Chimpzee just burned another 1 Billion tokens dropping the total supply to 36 Billion now!

We are going to announce our next raise goal this week and will put together a new press release to announce this achievement!

The Chimpzee Army united once again to help these… pic.twitter.com/mgUF2y5js4

— Official Chimpzee Project (@RealChimpzee) October 22, 2023

Limited Time to Acquire the Tokens

There are two core investment options on Chimpzee. The first of these is Chimpzee crypto tokens, which are used as payment and rewards within the ecosystem. The next is the Chimpzee NFT passports, which increase the earning potential of holders across the shop2earn, play2earn, and trade2earn platforms.

The presale of Chimpzee is in its last phase now. It will sell out in a few days, having raised $1.7M already. Early investors can grab attractive bonuses (up to 4X) and discounts during the presale.

To calculate the cost of your presale purchase, taking the bonus into account, please visit https://chimpzee.io/calculate.

Once the presale is over, the token will prove to be an expensive purchase as Chimpzee’s meme coin elements can trigger its initial price action, anywhere from 10X to 12X.

Amidst the tumult of global markets reacting to the Israel-Hamas conflict, Bitcoin stands resilient. As of Saturday, the premier cryptocurrency is trading at $34,126, marking a modest increase of nearly 0.10%. This stability in the face of geopolitical unrest emphasizes Bitcoin’s growing role as a potential hedge against traditional market volatility.

Further bolstering its position, the US SEC, under the leadership of Chair Gary Gensler, is currently reviewing applications for 8–10 spot Bitcoin ETFs.

As investors and enthusiasts worldwide keenly observe these unfolding events, many are asking: where is BTC heading next? This Bitcoin price prediction aims to address that very question.

Geopolitical Unrest: How the Israel-Hamas Conflict Influences Global Sentiment

As Israeli ground forces escalate their operations, the intensity of Israel’s shelling of Gaza, particularly in the northern sector, continues to rise. The UN General Assembly, in a non-binding resolution, has called for a humanitarian ceasefire in Gaza.

Health and humanitarian organizations express deep concern for the well-being of Palestinians in the Gaza Strip, as the area faces a near-total communication blackout.

Negotiations between Israel and Hamas, facilitated by Qatar, are reportedly progressing and have reached an advanced stage. Since October 7, over 7,326 Palestinians have tragically lost their lives due to Israeli strikes, while more than 1,400 have perished from Hamas attacks on Israel.

Israel-Hamas war live: Israel unleashes ‘pure horror’ on Gaza Strip | Israel-Palestine conflict News | Al Jazeera https://t.co/XwuQAlpwOE

— Joel Cardwell (@joel_cardwell) October 28, 2023

In light of these significant global events, Bitcoin’s price appears to be experiencing a boost, with BTC’s value increasing in response to the unfolding situation.

As the geopolitical landscape becomes more tumultuous, many are exploring investment alternatives as a safeguard, contributing to the rise in Bitcoin’s price.

Spotlight on Cryptocurrency: SEC’s Gensler Announces Review of 8-10 Bitcoin ETF Applications

SEC Chairman Gary Gensler recently disclosed that the U.S. Securities and Exchange Commission (SEC) is in the process of reviewing between eight to ten applications for Bitcoin exchange-traded funds (ETFs).

Notably, the SEC has given the green light to ETFs linked to Bitcoin futures contracts but has held back from endorsing a spot Bitcoin ETF.

Breaking: SEC Chair Gary Gensler Reveals 8-10 #Bitcoin  ETF Applications Filings

The SEC May Approve #Bitcoin ETFs Soon!

1⃣Breaking News:

SEC Chairman Gary Gensler just dropped a bombshell about there are 8-10 #Bitcoin ETF applications on the SEC’s desk, and… pic.twitter.com/Xw8UWN65Ss

— FortuneNodeOfficial (@Fortunenode_) October 28, 2023

Elaborating on the deliberation surrounding these Bitcoin ETFs, Gensler indicated that the decisions would involve the participation of the five-member commission.

Despite the applications having varied submission dates, Gensler refrained from forecasting the outcomes and did not specify a timeline for decisions.

MUST WATCH: #GaryGensler Drops a Bombshell on #BitcoinETF

SEC Chair Today: “Yes, that’s right. We didn’t appeal last week. We are reviewing all the applications for ETF products. When approved, it will trade on Stock Exchanges”

With 8-10 filings under consideration,… pic.twitter.com/iYV3g6mCyO

— Good Morning Crypto (@3TGMCrypto) October 18, 2023

While Gensler did not enumerate the specific eight to ten Bitcoin ETF applications under SEC scrutiny, available public records reveal that there are a total of twelve such applications awaiting review.

Among these, applications from prominent firms such as ARK Investment Management, Grayscale, Bitwise, Fidelity, VanEck, and Invesco stand out.

Initial market reactions to the news hinted at a surge in optimism, with speculations of potential upticks in Bitcoin ETF approvals.

Bitcoin Price Prediction

Bitcoin’s key point is at $33,920, marking the 23.6% Fibonacci retracement level. The immediate upper resistance is at $35,185, followed by $36,100 and $36,975. Conversely, the primary support stands at $33,130, with further supports at $32,460 and $31,825.

The RSI, a measure of price movement speed, stands at 60, hinting at a mild bullish sentiment. The Stochastic Oscillator shows a high 92.327, suggesting potential overbought conditions and a possible price correction.

The ADX(14) gives a strong buy signal at 62, while the ATR(14) highlights significant volatility at 1288.

The 50 EMA, reflecting an average of the last 50 days with emphasis on recent prices, is at $33,760, indicating a short-term bullish outlook.

In summary, Bitcoin remains bullish above $33,920. If it drops below this, selling might intensify. In the near future, Bitcoin could challenge the $35,185 resistance.

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Crypto exchange Gemini has initiated a lawsuit against digital asset lender Genesis in an attempt to gain control over $1.6 billion worth of Grayscale Bitcoin Trust shares.

The lawsuit, filed on Friday in the U.S. Bankruptcy Court Southern District of New York, aims to recover the shares to repay clients of Gemini’s Earn program.

Gemini and Genesis have been embroiled in a dispute since last year when Genesis served as a primary lending partner for Gemini’s Earn product.

The Earn program allowed customers to earn returns on their cryptocurrency holdings. However, following the collapse of major crypto exchange FTX and the subsequent industry-wide turmoil, Genesis halted withdrawals, leaving Earn customers uncertain about the fate of their funds.

Gemini aims to retrieve the funds and fulfill its obligations to its clients.

The lawsuit highlights that the collateral, which now amounts to nearly $1.6 billion, would fully secure and satisfy the claims of all Earn users.

The main hurdle in this process, according to Gemini, is Genesis.

In a blog post addressing the lawsuit, Gemini stated that Genesis is obstructing the effort to compensate Earn users and attempting to divert the value to other creditor groups.

Genesis is a company under the umbrella of Digital Currency Group (DCG), which also controls the Grayscale Bitcoin Trust, the world’s largest Bitcoin fund.

“Genesis has repeatedly taken actions to harm Earn users and to hinder and delay Earn users’ recovery of their digital assets,” the lawsuit alleged.

“It is time to resolve these issues so that Genesis may move forward with a reasonable plan of reorganization and Gemini may distribute the proceeds of the collateral to Earn users.”

Genesis Global, a subsidiary of DCG, filed for bankruptcy in January and recently announced the cessation of all operations.

Last month, the New York Attorney General’s office sued DCG, Genesis Global Capital, and Gemini Trust, alleging that the companies defrauded customers of $1.1 billion.

Gemini Trust, founded by Cameron and Tyler Winklevoss, prominent figures in the crypto space, has accused DCG CEO Barry Silbert of employing “bad faith stall tactics” to delay a resolution in the ongoing dispute.

Over the past week, the crypto market experienced significant fluctuations. Meme coins, such as PEPE coin , took center stage and reached a market cap of 500, nearly doubling its value.

PEPE, after a meteoric rise influenced by pivotal events like a massive token burn and the market’s shifting focus from Bitcoin Spot ETFs, saw its value nearly double.

Pepecoin doubles to $500M market cap as memecoin fever steals Bitcoin’s ETF thunder. Memecoin PEPE has doubled in value to reach a $500 million market cap, as memecoin fever continues to steal the spotlight from Bitcoin and other major cryptocurrencies. pic.twitter.com/PPLpVoWAIl

— Verna Aguilar (@AguilarVer16223) October 27, 2023

However, as the euphoria waned and the market recalibrated, PEPE, alongside other meme coins such as Dogecoin and Shiba Inu, experienced a sharp decline.

With Bitcoin re-emerging as a trusted store of value amid geopolitical tensions, the question on everyone’s mind is: What’s next for PEPE and its fellow meme coins?

This Pepe price prediction aims to unravel the intricate dynamics at play and forecast the potential trajectory of these digital assets.

Factors Driving the Memecoin Surge

Several events influenced this growth pattern. Notably, the PEPE team’s decision to burn approximately 7 trillion tokens played a significant role, reducing the coin’s supply and likely driving up its value.

BURN BABY BURN 6.9 TRILLION $PEPE TOKENS BURNED BY THE TEAM #UPONLY pic.twitter.com/QWtoas4g3N

— Addison (@MrPepeWorldwide) October 24, 2023

Additionally, as the hype around the Bitcoin Spot ETF started to wane, the crypto market’s focus pivoted to memecoins.

Elon Musk’s recent announcement about incorporating various payment methods into his platform, X, further stirred the market.

TLDR:
– Elon Musk’s X is setting ambitious plans to introduce full payment and financial services by the end of 2024.
– Dogecoin (DOGE) is sparking considerable interest among crypto enthusiasts and investors as a potential payment method on X.

— Discover Crypto (@DiscoverCrypto_) October 27, 2023

If X integrates Dogecoin as a payment option, it could have profound implications for both the platform and the cryptocurrency.

Furthermore, Pepe Coin is currently trending at the top on CoinMarketCap, indicating significant upside potential for PEPE.

Comparison with Other Cryptocurrencies

Over the past week, meme-based coins such as Shiba Inu, Dogecoin, Pepe Coin, and Floki Inu have outshined industry giants like Bitcoin and Ether.

The appeal of these more speculative assets led to a significant surge in the value of meme coins, including Pepe and Dogecoin.

For instance, Shiba Inu notched impressive gains of +11.5%, achieving new price milestones. However, this uptrend proved to be short-lived.

As the market adjusted, prices of meme coins began to fall, triggering a sell-off. Pepe Coin, in particular, dropped by over 10%.

Bitcoin’s Rally Amid Geopolitical Unrest

In the wake of recent corrections in meme coin values, Bitcoin has experienced a resurgence. This revival is largely linked to the ongoing conflict between Israel and Palestine.

This trend accentuates the growing belief among investors that Bitcoin serves as a dependable store of value in turbulent geopolitical situations.

As an increasing number of investors seek out perceived safe havens, Bitcoin’s price has climbed, instigating a shift in the meme coin landscape.

It’s noteworthy that while FLOKIUSDT showcased significant gains, both Pepe Coin and Dogecoin reported minor setbacks over the past 24 hours. Such developments further reinforce Bitcoin’s stature as a premier cryptocurrency.

For those closely watching the crypto market trends, be sure to check out our recent article on Bitcoin price prediction. Get the latest insights on BTC’s potential trajectory.

Current Market Statistics

• Pepe Coin: With a market cap of $506.03 million , it’s currently priced at $0.00000112 (PEPE/USD). Over the past 24 hours, it has declined by 1.25%.
• Dogecoin: Valued at $0.068818 (DOGE/USD) with a market cap of $9.74 billion. It has seen nearly 2.75% correction in the last 24 hours.
• Shiba Inu: Holding a market cap of over $4.50 billion and priced at $0.000008.

Pepe Price Prediction

At the close of the trading session on October 27, PEPE was trading at a price of $0.00000112. Over the last 24 hours, the digital asset experienced moderate fluctuations.

Key Price Levels: The daily chart showcases pivot points crucial for traders to monitor. PEPE’s immediate resistance stands at $0.000001371, followed by subsequent resistances at $0.000001594 and $0.000001792.

On the downside, the coin’s immediate support level is at $0.000000905, with further support seen at $0.000000764 and $0.000000602.

Overall Trend: Bullish as long as PEPE remains above the $0.000001124 mark; below this, the sentiment could turn bearish.  

Given its recent bullish momentum, PEPE might soon test the resistance at $0.00000137 in the coming days. Traders should monitor this level closely.

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Meme Kombat Presale Smashes $800K

Discover Meme Kombat, a pioneering venture merging the sentimental allure of retro gaming, memetics, and GambleFi within a decentralized Web3 framework.

Meme Kombat’s core is its enthralling battleground where characters, representing distinct crypto communities, face off in intense duels.

Participants can wager on these animated clashes, forecasting results and potentially garnering substantial returns.

The USDT raised is nearing its $1,000,000 target, currently standing at $816K. Each MK token is priced at $0.1667.

Make your move now. With only 5 days remaining before an anticipated price hike, now is the time to engage.

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^{Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.}

TLDR

• NuggetRush (NUGX) combines real-world gold mining, cryptocurrency, and digital gaming to form an immersive P2E platform.
• Dogecoin (DOGE) has experienced a roller coaster in 2023, but it has finally started rising amid Bitcoin’s (BTC) abrupt surge.
• For most of 2023, Shiba Inu (SHIB) faced persistent bearish trends despite the launch of Shibarium.

NuggetRush (NUGX) redefines the crypto space by combining real-world gold mining, gaming, and cryptocurrency, forming an engaging Play-to-Earn (P2E) platform. On the other hand, Dogecoin (DOGE) maintains its status as the biggest meme coin amid price volatility and market challenges.

Meanwhile, Shiba Inu (SHIB) struggles despite the introduction of Shibarium. Can NuggetRush challenge Dogecoin and Shiba Inu’s dominance in the meme coin space? Let’s find out.

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NuggetRush (NUGX) Pioneers a Play-to-Earn Model with Real-World Impact

NuggetRush (NUGX) integrates real-world gold mining, cryptocurrency, and digital gaming to create an engaging Play-to-Earn (P2E) platform.

This groundbreaking NuggetRush (NUGX) fusion establishes a space where players enjoy an immersive gaming experience and actively contribute to supporting artisanal miners in less-developed nations.

Interestingly, the top altcoins find advanced ways to surpass traditional boundaries. On that note, NuggetRush (NUGX) is leading in this space, and its massive tokenomics highlights its investment charm.

Out of the 500 million NUGX tokens in total supply, strategic allocations are planned to promote ecosystem growth, with significant portions reserved for marketing, partnerships, and ecosystem rewards.

In the world of meme coins, NuggetRush (NUGX) stands out by offering the potential for real-world change, combining the appeal of gaming with a noble social mission. NuggetRush (NUGX) goes beyond digital wealth pursuance and channels crypto enthusiasm toward a greater good.

Each in-game action on NuggetRush brings players nearer to tangible rewards and has a meaningful impact on the livelihoods of artisanal miners. Hence, NUGX showcases how blockchain technology can extend beyond traditional digital confines.

The ongoing presale is thriving, with over 14.4 million NUGX tokens sold at 0.01 USDT each in Stage 1, highlighting growing investor confidence in NuggetRush’s vision. The upcoming rise to 0.012 USDT on November 3, 2023, enhances NuggetRush’s (NUGX) investment appeal, making it the best crypto investment today.

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Dogecoin (DOGE) Turns Bullish as the Crypto Market Awakens

A recent biography about Elon Musk revealed his extensive involvement with Dogecoin (DOGE), which helped support the coin’s price.

Despite the recent media focus on the meme coin industry, especially Dogecoin (DOGE), the sector shrunk significantly in its overall value in 2023. This decline was proven by the $2 billion losses incurred by Dogecoin (DOGE).

Interestingly, Dogecoin (DOGE) began 2023 with a $10.83 billion market cap, which declined to $8.37 billion by October 18. Yet, it retained its status as the biggest meme coin project, despite a $2.46 billion loss in market capitalization.

Analysis shows that Dogecoin (DOGE) remained confined within a trading range for a few weeks, lacking the catalyst required to break free in a sluggish cryptocurrency market.

Nonetheless, October 23 marked a potential turning point as cryptos surged, led by Bitcoin’s (BTC) massive surge above $34,000. Dogecoin (DOGE) was among the top gainers and recovered some losses recorded earlier in the year.

On October 24, Dogecoin (DOGE) was trading at $0.0656. Analysts expect Dogecoin (DOGE) to rise to $0.0725 by the end of 2023, supported by a strong bullish trend in the entire crypto market. Hence, DOGE is a good crypto to buy today.

Shiba Inu’s Positive Developments in 2023 Help Push SHIB Higher

For most of 2023, Shiba Inu (SHIB) faced persistent bearish trends. Even the August launch of Shibarium failed to boost Shiba Inu (SHIB). It went from a high of $0.00001109 in August to just $0.000006730 in October.

However, more developments are being implemented on Shiba Inu’s (SHIB) network. On October 23, Shiba Inu (SHIB) witnessed the permanent destruction of over 137 million coins, marking a 372% surge in the burn rate, coinciding with a favorable price momentum.

As per Shibburn data, the recent token burn pushes the total destroyed Shiba Inu (SHIB) tokens to over 410 trillion.

Elsewhere, lead developer Ryoshi Kusama said on October 23 that Shiba Inu’s (SHIB) team is working on major upgrades. While there is no official confirmation on which network upgrades to expect, Shiba Inu (SHIB) was positively affected.

On October 24, SHIB was trading at $0.000007342. Moreover, analysts expect Shiba Inu (SHIB) to trade at $0.000007955 by the end of 2023, supported by developments on its network.

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US regulators are finally discussing the subject of fiat-backed digital assets, popularly known as stablecoins.

According to Federal Reserve Vice Chair for Supervision Michael Barr, it’s imperative that stablecoins also fall under the supervisory oversight of the government.

Presenting his idea at a Washington DC-hosted conference, Barr stated unequivocally that the ability of a stablecoin to be pegged to any government-issued currency makes it private money.

Furthermore, these digitized fiat currencies serve as means of payment and value storage mechanisms, meaning they are borrowing the trust of the central bank.

Barr, who was appointed by President Biden as the Federal Reserve’s top bank cop, has argued that stablecoins must be regulated in light of these strong indicators.

Expanding on his stance, he noted that it is essential for stablecoins to be subject to a proper prudential financial framework to avoid posing risks to financial stability or the integrity of payment systems.

“We also have provided proper guidance to the banks that we supervise on how they should engage with their supervisors when considering use of these products,” Barr added.

Barr’s remarks tie into the growing belief amongst US regulators on the need for a strong handle on the crypto space.

In recent years, calls for appropriate oversight of the fast-growing decentralized economy have echoed through the walls of Washington DC. However, stablecoins have been the least considered.

So far this year, the Feds, which serves as the US equivalent of a central bank, has taken a more cursory look at the potential impact a privately controlled digitized sovereign currency could have on the economy.

To that end, the Federal Reserve launched a new set of guardrails specifically targeted at crypto assets and stablecoins in August this year.

In its set of rules, the Feds announced the launch of a new program codenamed SR 23-7, which stands for its Novel Activities Supervision Program.

In this new setting, the Feds said it seeks to enhance the supervision of novel technologies utilized by banking institutions under its purview.

These novel technologies targeted crypto assets, blockchain technology, and complex, technology-driven partnerships with non-banking entities to deliver financial services to customers.

Regarding the objectives of the SR 23-7 program, the central bank specified that it would be risk-focused and complementary to existing supervisory guidelines designed to regulate banking activities.

In a related press release, the Federal Reserve stated that banks would not be stopped from participating in stablecoin activities.

However, they would be required to prove to the nation’s lender of last resort that the appropriate safety guards are in place before commencing.

A CBDC Decision Not Yet Made

Barr, who serves as the Vice Chair for Supervision, also touched on the age-long quest for a central bank digital currency (CBDC) in his address.

He stated that the central bank is currently consulting with a broad range of experts on the most robust and appropriate emerging technology that would support a sovereign-backed digital currency.

This research is focused on end-to-end system architecture, security, verification, and tokenization models for CBDCs. However, he stated that no unanimous decision had been made on whether a CBDC should be issued.

The Fed official, however, stated that the decision ultimately lies with the US Congress and White House.

While the US has been reluctant to kickstart a CBDC program, its European counterpart is going full thrust with plans for a digital Euro.

The euro is key to our European unity. A digital euro, existing alongside cash, would future-proof our currency. It would be safe, easy to use and free of charge.

While the decision whether to issue a digital euro will be taken later, we’re now launching the preparation phase. pic.twitter.com/fs81p7otVW

— Christine Lagarde (@Lagarde) October 19, 2023

According to an October 19 tweet on X (formerly Twitter) by European Central Bank (ECB) head Christine Lagarde, the governing council of the ECB has given the green light to kickstart the preparation phase.