MOSCOW (Reuters) – The rouble hit a one-week low past 93 to the dollar on Monday as the Russian market reopened after a deadly shooting rampage near Moscow on Friday evening, with the Russian currency supported by high oil prices and month-end tax payments.
Russia lowered flags to half-mast for a day of mourning and charged four men it accused of gunning down scores of people at a concert outside Moscow on Friday night in the deadliest attack inside Russia for two decades.
At 0730 GMT, the rouble was unchanged against the dollar at 92.81, having dipped to a one-week low in early trade. It had lost 0.1% to trade at 100.36 versus the euro and shed 0.3% against the yuan to 12.78.
Investors were also reacting to Friday’s interest rate hold at 16%. The Bank of Russia warned that inflationary pressure remained high and that tight monetary conditions would be maintained for a long time to try to return inflation to the bank’s 4% target.
, a global benchmark for Russia’s main export, was up 0.4% at $85.76 a barrel.
The rouble should also be supported this week by month-end taxes that usually see exporters convert foreign currency revenues to pay local liabilities.
Russian stock indexes were lower.
The dollar-denominated RTS index was down 0.5% to 1,107.0 points. The rouble-based MOEX Russian index was 0.4% lower at 3,259.5 points.
In a significant announcement that has the cryptocurrency community buzzing, Floki Inu (FLOKI), the popular Shiba Inu-themed memecoin, has disclosed its ambitious roadmap for 2024. This comprehensive plan outlines a series of utility-focused initiatives that are set to redefine the project’s future, contributing to an almost 9% gain in its market value over the past week.
Pioneering Regulated Digital Banking with FLOKI
At the forefront of Floki Inu’s strategic developments is the introduction of regulated digital banking accounts. This innovative feature will enable users to create and fund bank accounts using FLOKI tokens, a move aimed at bridging the gap between traditional finance and cryptocurrency. Through a partnership with a licensed fintech firm operating across strategic global locations including Canada, Spain, Australia, and the United Arab Emirates, these accounts will facilitate Swift payments and use Single Euro Payments Area International Bank Account Numbers, marking a significant leap in crypto banking services.
Floki Debit Cards and DeFi Integration
The roadmap further details the launch of Floki debit cards, which will allow users to link their digital bank accounts to these cards, thereby enabling transactions in conventional currencies like the euro and the US dollar using FLOKI tokens. In addition, Floki Inu plans to enhance its presence in the decentralized finance (DeFi) sector through integration with the Venus protocol. Pending governance approval, this integration aims to increase liquidity by allowing FLOKI holders to use their tokens as collateral for borrowing assets such as DAI, USDC, BNB, and ETH.
The Launch of Valhalla: A Metaverse Game
Another highlight from the roadmap is the launch of Valhalla, Floki Inu’s metaverse game. Set to debut on the mainnet, Valhalla promises an immersive gaming experience with on-chain game features, a pay-to-earn mechanism, customizable non-fungible tokens (NFTs), and an expansive open-world environment. This venture signifies Floki Inu’s entry into the burgeoning metaverse domain, potentially opening new avenues for user engagement and utility.
Governance and Liquidity Initiatives
As part of its roadmap, Floki Inu is set to introduce a cross-chain trading bot on Telegram and Discord, powered by the FLOKI token, facilitating users to trade cryptocurrencies across blockchain networks. Notably, half of the fees generated will be allocated towards purchasing and burning FLOKI tokens, a strategy aimed at reducing supply and potentially increasing the token’s value.
Regulatory Awareness and Price Predictions
Despite these ambitious plans, Floki Inu faces regulatory scrutiny, as evidenced by a recent warning from the Hong Kong Securities and Futures Commission regarding unauthorized staking programs associated with the token. Investors are advised to exercise caution and conduct due diligence when participating in such schemes.
FLOKI Price Prediction
Amidst this backdrop, The CryptoBull, a notable crypto analyst, has made a bullish price prediction for FLOKI, suggesting that the token could reach an immediate target of $0.0003, with the potential to hit an all-time high of $0.012. This optimism is grounded in an analysis of the meme coin’s on-chain metrics, indicating a favorable outlook for Floki Inu’s market performance.
An increase in funded wallets not only means increase in number of users, but it is also a bullish indicator of fresh capital flowing into the ecosystem.
It appears that X Payments’ license acquisition has stirred up optimism that Dogecoin could achieve global adoption surge if Elon Musk’s fulfills the long-term proposition to integrate DOGE into Twitter/X.
Historical, also shows that DOGE price action has been closely and positively correlated to the changes in the number of funded wallets. Hence, strategic traders will keep an eye on the future developments surrounding this event.
Dogecoin (DOGE) price forecast: SHORT Traders to Lose $20M if DOGE breaks above $0.20
In the near-term, if the Dogecoin network continues to adds to its 70,000 newly-funded wallets, DOGE price could head toward the $.20 target in the week ahead.
However, Coinglass Liquidation map shows that the bears could mount a significant sell-wall at the $0.18 territory.
As seen below, SHORT traders currently have over $20 million leveraged futures contracts due to be liquidated if Dogecoin price surges above $0.18.
To avoid booking such large losses, the bears could activate tight stop-loss orders in the coming days. The sell pressure could in advertently slow down the DOGE price ascent.
But if the new entrant keep bringing in fresh capital as observed above, Dogecoin could attract sufficient demand to scale the looming sell-wall at $0.18, and potentially drive the rally above $0.20 as predicted.
Another wave of FUD around the possible security status of Ethereum (ETH) is the key reason behind its “underperformance,” data says. However, passionate holders do not seem to be ready for selling en masse.
Ethereum FUD causes record-breaking ETH inflow to CEXes
In the past week, the Ethereum (ETH) supply has experienced mixed trends. As the meme coin mania loses steam, the aggregated Ethereum (ETH) fees dropped by 41%, says leading blockchain data tracker IntoTheBlock.
In this week’s newsletter, we analyze some of the recent FUD against Ethereum. We evaluate ETH’s relative performance in terms of price, its fundamental metrics and the bullish outlook shared by ETH’s long-term investors👇https://t.co/LOJscBi0dF
Such calculations were revealed by IntoTheBlock in its latest On-Chain Insights newsletter.
Also, Ether recorded its largest weekly net inflows into centralized exchanges since September 2022: Scared holders brought $720 million to CEXes.
This week, besides the “regular” rumors about Ether’s security status, some media outlets reported that Ethereum Foundation was being investigated by law enforcers.
Should Ethereum (ETH) be deemed security in the U.S., the prospects of Ethereum ETF approval might be questioned.
As covered by U.Today, U.S. congresspersons and Coinbase CLO slammed the SEC and its leadership for its failure to protect Ethereum (ETH) from a regulatory crackdown.
“ETH underperformance is real,” IntoTheBlock says
It is the FUD to blame for Ethereum’s (ETH) underperformance, IntoTheBlock data says. In the shadow of the marvelous BTC rally, ETH has lagged behind Bitcoin and on a risk-adjusted basis, even behind the S&P 500.
Also, the ratio of ETH/BTC is holding just above 0.05, inching closer to its lowest point since June 2022. It should be noted that BTC has already managed to exceed its 2021 high, while the Ethereum (ETH) upsurge stopped 32% short of the ATH.
At the same time, long-term ETH holders are not ready to sell their coins. The amount of Ethers in wallets that have been holding for over one year continues hitting new highs despite the negative news.
Layer-2 Blast’s DeFi Farming Game Crypto Valleys Surge in Popularity
Blast, an Ethereum layer-2 blockchain, is witnessing a surge in gaming activity, particularly from a game called Crypto Valleys.
Crypto Valleys shares some similarities with the once-popular farming game DeFi Kingdoms. Crypto Valleys, in its initial version, is primarily focused on attracting DeFi enthusiasts. The web-based game allows players to purchase NFT-based seeds using the game’s YIELD token, plant them, and harvest the produce to earn additional YIELD. The process can be repeated for continuous gains, creating a simple and streamlined experience.
To add excitement, Crypto Valleys incorporates “gacha” elements, which involve NFT seed packs with randomized contents. Similar to loot boxes in various games, these seed packs offer rewards that range from common to extravagant.
The allure of potential high YIELD gains from seed packs has attracted a surge in players, with Crypto Valleys’ YIELD token becoming the most-traded token on Blast. Over the past 24 hours, it recorded approximately $8.1 million worth of trading volume. The token’s price experienced a pump to around $15.6 currently, and is valued at a market cap of $93.6 million.
Crypto Valleys has also distributed a collection of 1,500 character NFTs for free minting. These assets are now valued at approximately 0.47 ETH ($1,641) on the secondary market. Additionally, players can earn “Blast Gold,” special points that contribute to an upcoming Blast network token airdrop for users.
There aren’t any significant expiries in play for the day ahead. As such, trading sentiment will continue to revolve around the mix of the technicals, risk mood, and broader market sentiment. So far today, there isn’t much to really work with as most markets remain relatively muted. But the dollar is still keeping poised, so keep an eye out for that at least.
For more information on how to use this data, you may refer to this post here.
Brent oil price begins today with slight bullish bias, hinting heading to resume the bullish trend, which targets testing 87.40$ as a first station, noting that breaching this level will push the price towards 88.40$ as a next target.
The EMA50 supports the price from below to reinforce the chances of continuing the bullish wave, noting that breaking 85.30$ followed by 84.55$ levels will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 84.60$ support and 87.50$ resistance.
As the 2024 crypto presale season unfolds, BlockDAG positions itself as a dominant player, overshadowing Storj and Kelexo with its comprehensive roadmap and ambitious $600 million objective. This analysis explores BlockDAG’s pioneering blockchain technology and its commitment to broader market accessibility and adoption. BlockDAG’s all-inclusive strategy aims to transform the digital economy, positioning itself as
As the 2024 crypto presale season unfolds, BlockDAG positions itself as a dominant player, overshadowing Storj and Kelexo with its comprehensive roadmap and ambitious $600 million objective. This analysis explores BlockDAG’s pioneering blockchain technology and its commitment to broader market accessibility and adoption. BlockDAG’s all-inclusive strategy aims to transform the digital economy, positioning itself as a key player for investors seeking solid, future-oriented crypto opportunities.
Analysis of Storj’s Future Value
Forecasts for Storj from 2024 to 2030 suggest a steady uptick in its price, ranging between $1.26 and $8.76. This projection underscores its growing role in the blockchain storage domain. However, despite projections, it’s unlikely Storj will hit the $10 mark by 2030, given the current pace of growth and market capitalization factors.
These projections for Storj highlight its niche in decentralized storage, competing against major players like Amazon S3 and Dropbox by offering secure, efficient, and cost-effective storage solutions at $4 per TB monthly. Yet, the analysis considers Storj a less appealing investment option due to the challenging growth and market cap required to achieve a $10 valuation, despite its innovative solutions and expanding applications in areas such as cloud-native applications and scientific research.
The Turning Point in Decentralized Finance with Kelexo’s Presale
Kelexo’s ongoing presale, particularly attractive in its second phase at $0.04 per token, is capturing attention from communities within Ripple (XRP) and Litecoin (LTC), marking a significant phase in decentralized finance (DeFi). Distinguished by its no-KYC, peer-to-peer lending marketplace, Kelexo aims to extend financial access beyond traditional constraints.
Focusing on inclusiveness and improving user experiences, Kelexo’s presale is identified as a key opportunity in the current bull market. With advancements in Web3 lending, Kelexo aims to offer a transparent, straightforward, and accessible investment in DeFi’s future, bypassing common barriers.
BlockDAG Redefines the 2024 Crypto Presale Scene
BlockDAG rapidly reshapes the 2024 crypto presale scene, with its bold $600 million strategy significantly outpacing Storj and Kelexo. BlockDAG distinguishes itself by adopting a broader approach that incorporates cutting-edge blockchain technology and user-friendly mining experiences to attract a wide audience.
A recent keynote in Shibuya highlighted its goals for broad adoption and inclusivity in the digital market. With a presale achievement of $7.9 million, BlockDAG’s focus on democratizing blockchain through Directed Acyclic Graphs (DAG) and Proof-of-Work (PoW) mechanisms sets it apart from its competitors.
These core technologies promise unmatched scalability, security, and efficiency, placing BlockDAG at the forefront of 2024’s top crypto presales. Its commitment to open communication and community building around trust and innovation further establishes its leadership position. While Storj and Kelexo provide specialized solutions in their fields, BlockDAG’s ambitious, holistic approach seeks to redefine blockchain utility at large, presenting an attractive option for investors aiming for a resilient cryptocurrency investment.
BlockDAG: The Preferred Investment Choice
In the competitive landscape of 2024’s crypto presales, BlockDAG emerges as the top investment choice by integrating revolutionary DAG and PoW technologies. Moving beyond the decentralized storage of Storj and Kelexo’s focus on Web3 lending, BlockDAG addresses a wider range of blockchain applications with superior scalability, security, and efficiency. Its notable presale success of $7.9 million, combined with a vision to make blockchain technology accessible, establishes BlockDAG as the leading choice for investors seeking to engage with the digital economy’s growth.
Investing.com– Most Asian currencies firmed on Monday, recovering a measure of recent losses as the dollar consolidated at one-month highs, while traders remained on guard over potential government intervention for the Chinese yuan and Japanese yen.
Most regional currencies were nursing steep losses from last week, as the dollar blazed past seemingly dovish signals from the Federal Reserve following a surprise rate cut from the Swiss National Bank.
Strength in the dollar limited gains in most Asian currencies on Monday.
USDCNY falls below 7.2, state banks seen intervening
The Chinese yuan strengthened sharply, with the pair falling 0.4% and briefly breaking below the 7.2 level. The offshore yuan’s pair fell 0.5% but remained well above the 7.2 level.
Reuters reported that the People’s Bank of China had instructed state-owned banks to buy yuan and sell dollars in the open market, to support the Chinese currency.
The yuan tumbled to four-month lows in recent sessions amid growing concerns over a sluggish Chinese economy. The PBOC also recently signaled that it still had enough headroom to further reduce its benchmark rates.
USDJPY strengthens after verbal warning
The Japanese yen saw some strength on Monday, with the pair falling 0.1% after a top Japanese currency diplomat offered a verbal warning on potential intervention by the government.
Masato Kanda, vice finance minister for international affairs, said that recent weakness in the yen did not reflect the currency’s fundamentals, and that the government remained ready to respond to the yen’s slide.
The USDJPY level surged to four-month highs last week even as the Bank of Japan for the first time in 17 years. But BOJ Governor Kazuo Ueda offered largely dovish signals for monetary policy in the near-term, which were a key weight on the yen.
With the USDJPY pair now trading well above the 150 level, traders were on edge over any potential intervention in currency markets, given that such USDJPY levels have attracted intervention in the past.
for Tokyo is also due later this week.
Dollar steadies below 1-mth high
The and fell slightly from a one-month high in Asian trade, consolidating after a late-week rally.
The greenback had shot up after dovish signals from the SNB and Bank of England suggested that the dollar will remain the only relatively high-yielding, low-risk currency in the near-term.
While the Fed still flagged at least 75 basis points of rate cuts this year, that figure will depend largely on the path of inflation. data- the Fed’s preferred inflation gauge, is due this Friday.
Broader Asian currencies firmed, but gains were limited in anticipation of key economic figures this week.
The Australian dollar firmed, with the pair rising 0.2% ahead of a reading due later in the week.
The South Korean won’s pair rose 0.3%, while the Singapore dollar’s pair firmed 0.1% ahead of due later in the day.
GBTC saw net outflows of $169.9 million on March 22 versus $358.8 million on March 21 and $642.5 million of net outflows on March 18. Outflows on March 18 were the highest since the launch of the Nine on January 11.
With GBTC net outflows of $2,001.3 million in the week ending March 22, the markets anticipate net outflows to fall significantly. Investors attributed the GBTC net outflows to the bankruptcy court ruling, allowing Genesis Global Holdco LLC to liquidate GBTC shares worth approximately $1.3 billion.
The BTC-spot ETF market saw five consecutive days of net outflows in the week ending March 22. BTC-spot ETF market flow data for March 25 could impact buyer demand for BTC late in the session. GBTC outflows and inflow data for iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) will likely be the focal points.
IBIT and FBTC registered 51 consecutive days of net inflows on Friday. However, Five consecutive sessions of total net outflows fueled speculation about the BTC-spot ETF market seeing inflows dry up.
President of ETF Store Nate Garaci had this to say about the BTC-spot ETF market flow trends,
“Spot bitcoin ETFs have taken in a net $11bil & have $50bil AUM in 2+ months & the media is already trying to call it over… No idea what happens w/ flows moving forward, but someone pls tell them numerous RIAs & brokerage platforms haven’t even approved these things for use yet.”
