XRP outperformed the broader crypto market from Monday (Mar 18) to Saturday (Mar 23), falling by 1.15% to $0.6117. In contrast, the total crypto market cap was down 6.01% to $2,361 billion.
The Coinbase filing with the CFTC fueled a Wednesday-Thursday rally, reversing losses from Tuesday (Mar 19).
XRP faces several headwinds, including SEC plans to appeal the Programmatic Sales of XRP ruling. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test.
Moreover, XRP benefitted from increased scrutiny of SEC activity within the US digital asset space.
An ongoing investigation into crypto conflicts of interest within the SEC could also unravel SEC plans to appeal the ruling. In 2022, government watchdog Empower Oversight reported possible financial conflicts of interest within the SEC to the Office of Inspector General (OIG).
The OIG is reportedly nearing the end of its investigation. Adverse findings against the SEC could force the SEC to settle the case against Ripple. A settlement would end SEC plans to appeal against the Programmatic Sales ruling.
The investigation pertains to former SEC director William Hinman. Hinman allegedly received millions of dollars from Simpson Thacher, his former employer, while at the SEC. Simpson Thacher is part of a group that promotes Enterprise Ethereum.
Hinman famously stated that bitcoin (BTC) and ethereum (ETH) are not securities in 2018. BTC and ETH benefitted from the speech, while XRP tumbled over fear of SEC action. Hinman returned to his former employer after leaving the SEC.
In March 2024, Empower Oversight expanded its investigations into financial conflicts of interest. Empower Oversight submitted a letter to the FOIA requesting records relating to ethical violations within the SEC.
In addition to requesting documents relating to Bill Hinman, Empower Oversight targeted former SEC Chair Jay Clayton. Clayton filed the charges against Ripple on his final day as SEC Chair. Clayton joined One River Asset Management after leaving the SEC. One River Asset Management was a hedge fund focused on BTC and ETH.
VMPL New Delhi [India], March 23: The keys to success in the ever-changing world of cryptocurrencies are creativity and usefulness. Projects must always aim to provide users with tangible value as the market develops and grows. Retik Finance (RETIK) is one such initiative that has lately drawn interest from the cryptocurrency community. Retik Finance has not only revolutionized traditional finance with its ground-breaking introduction of virtual DeFi debit cards, but it has also raised the bar for simplicity and availability in the decentralized finance (DeFi) industry. In this article, we’ll look at how Retik Finance through its virtual DeFi Cards is gunning to transform the crypto space with its revolutionary features and functionality. Furthermore, we will look at how meme tokens like Shiba Inu and Dogecoin lag due to a lack of genuine utility. We will also learn why Retik Finance is paving the way in the cryptocurrency industry and how its forward-thinking methodology is transforming the financial landscape. Retik Finance (RETIK): An Innovative Light Retik Finance has been widely recognized as an early leader in the DeFi space thanks to its objective aimed at promoting open finance and empowering people all over the world. The project’s most recent milestone, the introduction of its virtual debit cards, is a huge step forward in realizing this objective. Retik Finance offers virtual debit cards that are totally decentralized, allowing customers total control over their money and transactions, in contrast to regular debit cards that are connected to centralized banking systems. Overview of Retik’s Virtual DeFi Cards Utilizing Retik’s Virtual DeFi Debit Cards doesn’t just offer the convenience of seamless transactions; it also comes with rewarding perks for users. These cards not only enable users to spend their cryptocurrencies effortlessly but also offer attractive incentives in the form of RETIK Tokens for every transaction made. Virtual Card Launching Ahead of Time: Proof of Retik’s Commitment to Excellence What distinguishes Retik Finance (RETIK) is not just its unique products, but also its commitment to meet its objectives ahead of schedule. Retik’s Virtual-Powered Debit Cards were originally supposed to roll out in 2025, but Retik Finance’s workforce of developers and technologists put in a lot of overtime to push the launch date forward, defying all odds and delivering this ground-breaking product earlier than expected. This unwavering pursuit of innovation and dedication to quality is what distinguishes Retik Finance from its rivals. The Utility Lag of Dogecoin (DOGE) and Shiba Inu (SHIB)
Retik Finance (RETIK) is leading the way in innovation, while other meme tokens, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have found it difficult to stay up. Dogecoin and Shiba Inu, for all their immense appeal and meme status, are merely tokens with no real practical use outside of speculation. In contrast to Retik Finance, which provides a range of DeFi services and solutions aimed at empowering users and streamlining financial transactions, Dogecoin and Shiba Inu have not yet fulfilled their promise to transform the financial industry. The Significance of Utility in the Crypto World In the current crypto environment, utility and credibility are more crucial than ever. Cryptocurrency projects must provide consumers with actual benefits and real-world utility, especially in light of the growing number of initiatives competing for funding and attention. One excellent illustration of this is the virtual DeFi Debit card offered by Retik Finance, which gives customers an easy and useful way to conduct transactions within the decentralized ecosystem. Retik Finance is a project that shows absolutely no indication of receding as it keeps pushing beyond the limits of what is feasible in the DeFi space. Retik Finance is well-positioned to maintain its leadership position in the cryptocurrency market as it prepares to broaden its ecosystem and launch even more cutting-edge products and applications in the upcoming months. Conclusion: Retik Finance Setting the Standard Retik Finance stands out as a market leader in creativity and authenticity amidst a sea of meme tokens and risky investments. In addition to showcasing its dedication to quality, Retik Finance has raised the bar for accessibility and convenience in the cryptocurrency market with the introduction of its online DeFi debit cards. While Dogecoin and Shiba Inu are having difficulty keeping up, Retik Finance is still at the forefront, laying the groundwork for a more inclusive and decentralized financial future. Visit the links below for more information about Retik Finance (RETIK): Website: https://retik.com Whitepaper: https://retik.com/retik-whitepaper.pdf Twitter: www.twitter.com/retikfinance Telegram: www.t.me/retikfinance (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
Groundbreaking developments and speculative trends dominate headlines in the cryptocurrency market. Today’s crypto news live presents a dual narrative that encapsulates innovation and market enthusiasm.Retik Finance (RETIK), a DeFi-focused platform, has defied expectations by launching its utility a year ahead of schedule. Concurrently, analysts foresee an epic rally for two of the most prominent meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB). Let’s delve into these developments shaping the crypto landscape.
Retik Finance (RETIK) Makes History with Early Utility Launch
Retik Finance (RETIK) has made waves in the decentralized finance (DeFi) space by achieving a significant milestone—the early launch of its utility making history as the first ever DeFi-focused platform to launch utility a year ahead of schedule. According to the original roadmap, the utility launch was slated for Q4 2025. However, Retik Finance (RETIK) has astounded the crypto community by unveiling its virtual DeFi debit card ahead of schedule. The beta version of this innovative offering is now available to the public, marking a historic moment for the DeFi sector.
Unveiling the Virtual DeFi Debit Card
The launch of Retik Finance’s utility introduces a novel way for users to interact with decentralized finance protocols. By providing access to a virtual DeFi debit card, the platform enhances convenience and accessibility for participants in the DeFi ecosystem. This early rollout demonstrates Retik Finance’s commitment to innovation and its ability to execute ambitious plans ahead of schedule.
Impact on the DeFi Sector
The early launch of Retik Finance’s utility has significant implications for the broader DeFi sector. As one of the pioneering platforms focusing on decentralized finance, Retik Finance sets a precedent for other projects to expedite their development timelines. The introduction of the virtual DeFi debit card expands the utility and utility of DeFi protocols, potentially attracting a broader user base and driving further adoption of decentralized finance solutions.
Analysts Predict Epic Rally for Top Meme Coins
In parallel with Retik Finance’s historic achievement, analysts are closely monitoring the performance of two leading meme coins: Dogecoin and Shiba Inu. Dogecoin, often hailed as the pioneer of meme-inspired cryptocurrencies, continues to captivate investors worldwide. With a current price of approximately $0.1739 and a notable 20% surge in the past week, DOGE remains a focal point of market speculation.
Dogecoin’s Enduring Popularity
Analysts have forecasted an epic rally for Dogecoin in the near future, citing its enduring popularity and strong community support. Despite its origins as a lighthearted internet meme, Dogecoin has evolved into a legitimate digital asset with significant trading volume and widespread acceptance. The recent surge in DOGE’s price reflects renewed investor interest and underscores the resilience of the Dogecoin community.
Shiba Inu’s Remarkable Rise
Meanwhile, Shiba Inu (SHIB) has emerged as another standout player in the meme coin arena. With a remarkable 28% increase over the past week and an astounding 262% surge in the last month, SHIB has garnered considerable attention from investors. Despite experiencing a slight dip, with its price hovering around $0.00003383, analysts remain optimistic about Shiba Inu’s prospects.
Bullish Sentiment and Market Dynamics
The recent stability exhibited by Shiba Inu reflects broader market dynamics, as cryptocurrencies undergo a bullish phase characterized by heightened investor interest and substantial investments. Analysts’ positive sentiment towards SHIB underscores the belief in its potential for significant gains in the coming days. The surge in both DOGE and SHIB prices is part of a larger trend in the crypto market, where meme-inspired coins attract speculative interest and contribute to market volatility.
Conclusion
The convergence of these two narratives—Retik Finance’s groundbreaking utility launch and analysts’ bullish predictions for Dogecoin and Shiba Inu—underscores the dynamic nature of the cryptocurrency market. As innovations continue to reshape the DeFi landscape and meme coins attract widespread attention, investors and enthusiasts alike are poised to witness exciting developments in the weeks and months ahead. Whether it’s the early adoption of innovative DeFi solutions or the speculative fervor surrounding meme-inspired cryptocurrencies, the crypto news live presents a vibrant tapestry of innovation and opportunity in the digital asset space. As we navigate through these developments, it’s essential to remain vigilant and informed, as the crypto landscape continues to evolve at a rapid pace.
Visit the links below for more information about Retik Finance (RETIK):
In a recent post on the X social media platform, Ripple CEO Brad Garlinghouse has predicted that the U.S. Securities and Exchange Commission (SEC) is on track to lose its “war” against Ethereum (ETH).
According to Garlinghouse, the SEC is already “losing badly” in the court while falling below its international counterparts in terms of regulatory standards.
Earlier this week, various media outlets reported that the SEC has launched an aggressive campaign to label the second-largest cryptocurrency as a security. The Ethereum Foundation is also facing an ongoing investigation.
As reported by U.Today, Paul Grewal, chief legal officer at Coinbase, took a stand against “misinformation” surrounding Ethereum, pointing to the fact that the altcoin has been vital to the broader crypto economy.
He has also mentioned various inconsistencies in the SEC’s approach to regulating Ethereum as a security.
Garlinghouse himself has mentioned that the SEC is now also fighting other regulators like the CFTC on top of the SEC.
Earlier this month, two United States senators penned a letter to Gary Gensler, urging the SEC not to approve more ETFs for other cryptocurrencies.
Some legal analysts believe that the SEC is now trying to appease some cryptocurrency skeptics in Washington.
Stuart Alderoty, chief legal officer at Ripple, now says that Congress should stop funding “this insanity.”
Last November, as reported by U.Today, Garlinghouse signaled his readiness to take the fight over the regulatory status of XRP all the way to the Supreme Court.
The SEC has suffered a series of setbacks in courts, but it is still determined to rein in the cryptocurrency industry with a number of enforcement actions.
Many factors are to be assessed while looking for the next crypto investment that promises to provide financial freedom. One of the most critical factors to look into is the coin’s presale success, as it demonstrates the trust within the market and the hype surrounding it.
With that in mind, this article focuses on the incredible success that BlockDAG’s presale has achieved as its third batch draws the curtain. This has attracted other DeFi coins & ThorCoin holders. This article aims to provide readers with insights into what coin would grant them short-term gains and long-term security.
Can Pepe’s Community Bring It Toward an All-Time High?
Pepe, a token that seemingly became a billion-dollar meme coin overnight, embodies the essence of viral cryptocurrency trends. With its cap set at an enormous 420.69 trillion tokens, its value is purely driven by market sentiment. Unlike projects boasting complex ecosystems, Pepe remains grounded in its meme coin identity, offering simplicity and a dash of fun to the crypto space.
Despite its playful nature, the token’s price trajectory reflects serious investor interest, reaching all-time highs (ATHs) of $0.00001074 in March 2024. Yet, following this peak, the value dipped significantly, showing the volatile nature of such investments. While Pepe has demonstrated impressive gains, its future hinges on sustained community engagement and market demand.
In contrast, ThorChain’s robust year-to-date performance signals a bullish market sentiment towards this blockchain protocol. The RUNE token, integral to ThorChain’s liquidity provision and security, witnessed a staggering 665% increase in value over the year, with recent weeks seeing over 100% growth.
This momentum suggests a promising outlook, with price predictions indicating a potential rise by the end of 2024. ThorChain’s ascent reflects investor confidence in its technology and future potential, marking it as a significant player in the crypto investment landscape.
BlockDAG’s Expectations Beat Competitors’ Potential Post Presale’s $6.8M Milestone!
In comparison, BlockDAG, informally known as the ‘Presale Titan’ of 2024, has gained immense support from supporters and is also rapidly gaining new investors. BlockDAG differentiates itself by integrating Directed Acyclic Graph (DAG) and Proof-of-Work (PoW) mechanisms, promising enhanced scalability, security, and decentralisation. This cutting-edge approach positions BlockDAG as a forward-thinking project and appeals to investors keen on technological advancements.
The success of its presale, culminating in over $6.8 million, underscores the growing trust in BlockDAG’s potential to deliver substantial returns, with forecasts suggesting a 10,000x ROI. Moreover, the keynote display on Shibuya crossing spotlighted BlockDAG’s strategic ambitions, bolstering its visibility and solidifying its status as a must-watch in the crypto domain. One of the most noteworthy announcements was its X Series Mining Rigs, which has further invigorated its commitment to integrate cryptocurrency transactions into daily life seamlessly.
BlockDAG’s vision extends beyond mere technological innovation; it encompasses a comprehensive strategy aimed at securing a top spot among cryptocurrencies by 2025. With a plan towards $600 million in 2024 and its fourth presale batch rapidly selling out, drawing significant investor interest, BlockDAG is on track to disrupt traditional blockchain standards. Analysts are optimistic, projecting a surge in value that could rival even the most successful crypto projects to date.
BlockDAG Leaves Competitors In The Dust!
Putting BlockDAG against ThorChain and Pepe reveals a landscape rich in diversity and potential. While ThorChain and Pepe offer compelling narratives of growth and community engagement, BlockDAG’s strong motives for redefining cryptocurrency and its ambitious roadmap position it as a competitor of a different league in the quest for blockchain evolution. Investors seeking short-term gains and a stake in the future of decentralised technology would do well to consider BlockDAG.
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Granted, the retracement following the wedge breakout high at 2,212 yesterday has been more aggressive than we might like to see, as it didn’t go far before hitting strong resistance. Nevertheless, what happens next will be key. A 78.6% Fibonacci level is generally a maximum retracement expected before signs of failure. And when the chance for a continuation of the retracement beyond the prior swing low increases.
Weekly Chart is a Concern
Of concern is the weekly chart. Natural gas is on track to end the week in a bearish position. It will form a bearish shooting star candlestick pattern this week, barring an end of day rally. For next week it will provide a bearish setup in that time frame. A drop below this week’s low 2,212 triggers the setup. Of course, if that happens the bull wedge breakout on the daily chart will have failed to follow through.
On the Upside
On the upside, a bullish reversal signal is provided on the daily chart on a rally above today’s high of 2,186. There is a chance for a sharp rally given the rapid price advance that was seen prior to the wedge formation. The current advance would match the prior at a minimum of 2,320. Note that only the high momentum portion of the previous move is being used, starting from the March 1 daily low. Also of interest is the slightly lower target from a rising ABCD pattern. Symmetry between the CD and AB legs of the trend pattern occurs at a target of 2,298.
For a look at all of today’s economic events, check out our economic calendar.
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Shiba Inu paints a higher high on charts, signaling a potential reversal in investor sentiment and market dynamics. Following a period of consolidation, SHIB has broken past previous resistance levels.
SHIB’s price has overcome a critical resistance level, now turning it into a support that traders should keep an eye on. This newfound support is situated around the $0.000022 mark. Should SHIB’s price retrace, this level could play a crucial role in sustaining the current bullish momentum. On the flip side, resistance lies near the $0.000028 level, a breach of which could pave the way for further gains.
Shiba Inu has recently climbed to a new high, which is quite important. This shows that people are willing to buy more even when prices dip, suggesting they believe in the reversal in the foreseeable future. Before this, SHIB’s price was consolidating, so this upward move has made those who like SHIB hopeful that its value could keep rising.
XRP secures golden cross
XRP has unexpectedly secured the golden cross formation. This occurs when a shorter-term moving average crosses over a longer-term moving average, typically indicating potential for significant price increases.
The daily price chart has shown the 50-day moving average climbing above the 200-day moving average, a substantial growth signal. The golden cross could potentially lead to an uptrend as it may attract more buying pressure.
The recent dip to the support level around $0.50 was met with a strong buy-back, pushing the price to a higher high. As another higher high gets painted, XRP might finally enter a prolonged uptrend and reverse for good.
In terms of growth scenarios, XRP could test and possibly break through the aforementioned resistance level. This would open the way to $0.70, and consolidation at around that price level would become a foundation for growth toward $1.
While the golden cross formation has historically been a reliable indicator of growth, it is not a guaranteed predictor of future price movements.
Bitcoin’s hidden pattern
Bitcoin gives us something to talk about as the charts hint at a hidden pattern that could mean good news for investors. On the four-hour chart, an inverted head and shoulders pattern has formed, and this is often seen as a positive sign.
Looking closely at the numbers, Bitcoin has shown us a bottom, known as the “head,” at around $62,430, which is a key level for Bitcoin. After that, it went up and came back down to form the “shoulders” at around $68,000, but not as low as the head. This is important because it shows that Bitcoin does not want to go lower than that head level.
What is exciting is that Bitcoin is now moving upwards, making what we call a “higher high.” The price to watch is $64,433, because if Bitcoin can get past this point and stay there, it could herald the start of a big move upwards.
If we imagine the future for a bit, a growth scenario would be Bitcoin breaking past that $68,000 level. If it can hold its ground above that, the next stop could be looking toward $69,000, which would be a new challenge for Bitcoin to beat.
But remember, Bitcoin can be unpredictable, especially after a severe correction like the last one we saw on the chart. The unexpected drop from $70,000 clearly became a reason for speculation about the future of this rally and the potential the digital gold can show in 2024. Recently, top-tier analysts at Bernstein set the target price level for Bitcoin at $90,000 by the end of the year.
A memecoin frenzy on Base, an Ethereum layer 2 network, was jump-started by the recent Etherum Dencun upgrade, which lowered transaction fees.
A group turned $1,824 into over $2.1 million by trading memecoin NORMIE on Base.
Due to liquidity constraints, the group must sell its holdings gradually to avoid crashing the token’s market price, even though the traders hold only about 2.2% of its total supply.
One group of wallets on Base, the Ethereum layer 2 network incubated by centralised exchange Coinbase, has turned $1,824 into over $2.1 million amid the memecoin trading frenzy.
The holders, however, can’t cash in all of their chips at once because of the small size of the coin’s liquidity pool.
The story starts with the Ethereum Dencun upgrade, an upgrade on the Ethereum blockchain that went live on March 13 and that caused transaction fees on layer 2 blockchains to drop by as much as 98%.
With the lower fees, traders rushed to Base, as the platform had an all-time high of 855,191 active users on March 16.
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The total daily volume generated on Base hit an all-time high of $394 million on March 19, with a majority of the volume coming from memecoin traders, who tend to be price sensitive and who therefore were drawn in by the drastically lower transaction fees
One memecoin in particular, NORMIE, which is branded toward “normies,” or individuals entering crypto for the first time, rose 71,089% from its launch on March 6 to its peak on March 16.
On the day of its launch, wallet address 0xb3, received 0.299 Ether from a centralised exchange.
That wallet went on to send 0.1 Ether to wallet addresses, 0x6b and 0x57. All three of these wallets then purchased NORMIE on March 6 while the price per NORMIE was around $0.00007.
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Collectively, the three wallets purchased 24.4 million NORMIE, or 2.4% of the total supply, across 11 transactions.
A fourth wallet, 0x45, which was also funded from a centralised exchange on March 6, is connected to wallet 0x6b because they sent 0.01 Ether to them on March 9.
The wallet had similar transaction history, purchasing 5.5 million NORMIE with three transactions from March 6 to March 9.
It is unknown whether this cluster of wallets is one individual or an entity.
So far, these wallets have sold a total of 2.4 million NORMIE, or around $59,000. They still hold about 22 million NORMIE, or $2.1 million.
The group, or individual, controlling these wallets cannot offload their entire NORMIE holdings in one go because the liquidity pools for the token have only about $2.2 million.
A sudden, large-scale sale would likely crash NORMIE’s market price. Consequently, it appears the holders are adopting a strategy of gradually selling their tokens to avoid drastically affecting the token’s value.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/dlnews/DZE365SGOZE6LEFZTIB3MQKQ5M.jpg "This group owns just 2.2% of a memecoin on Base, but if it sold, the coin would crash. – DL News")