In Bitcoin news, holders were in the green after a wave of genuine and questionable industry developments regarding the crypto world’s elusive quest to gain SEC approval for a new Spot Bitcoin ETF.
Nevertheless, Bitcoin today sailed past the $29,000 resistance barrier, topping out at the $30,800 mark in the past 24 hours before pulling back to $30,000 at the time of writing.
The last time Bitcoin prices made a similarly remarkable surge was on October 16, off the heels of a fake report regarding the approval of BlackRock’s iShares Bitcoin ETF in the U.S. The rumor, published on the X (formerly Twitter) account of crypto media outlet Cointelegraph, set off a brief 10% surge to $30,000. The fake report caused widespread volatility, triggering a rash of hourly liquidations running up to $100 million. Cointelegraph edited its tweet, and it was subsequently deleted on October 17.
According to a BlackRock representative, the United States SEC is still reviewing the ETF application and awaiting approval. Likewise, SEC sources confirmed that the Cointelegraph Bitcoin news report was inaccurate.
However, the genie is out of the bottle. The pressure is on for Bitcoin today as the token tops a new multi-month high at $30,800 before losing ground as it tests support levels at around the $30,000 mark.
New meme coin on the horizon gaining massive traction in ICO
A new meme coin is emerging to give the meme coin market a much-needed revamp. It combines the virality of meme coins with a touch of AI sophistication—and it’s coming to purge the scene of weak and unoriginal meme coins. Memeinator isn’t just any other meme coin ripoff. It’s bringing a Terminator-style Judgment Day to the meme coin space, exposing low-effort meme coins lacking utility and destroying them on its way to a $1 billion market cap.
Memeinator offers innovation and utility, drawing from its experienced team and fresh approach to the meme coin format, coupled with Twitter API and OpenAI technology. The project’s ICO is the talk of the crypto town, raising $821k within 4 weeks of its launch. From a launch price of $0.01, Memeinator tokens rise after every preceding stage of its 29-stage presale, ending with a final price of $0.049. This progressive token price mechanism is one of the meme coin’s draws.
Memeinator will feature a game called Meme Warfare, where players can hunt down weak meme coin rivals in a no-holds-barred shoot-em-up within a digital arena. The game’s AI web scraping tool scans the internet for old and new meme coins to feed into Meme Warfare as characters for Memeinator to destroy.
Additionally, the protocol runs a competition for a trip to outer space with Virgin Galactic. One lucky presale participant will get a once-in-a-lifetime chance to take a trip into orbit — giving “going to the moon” an entirely new meaning. If you’re looking for the best meme coin to buy with up to 100x potential, join the Memeinator ICO today.
Binance to end European Visa debit card payments in December
The world’s largest crypto exchange by volume, Binance, has announced that it will discontinue its Visa debit card service within the European Economic Area in December 2023. The development is another setback for the global crypto exchange, off the heels of EU payments processor Paysafe ceasing EUR deposit processing for Binance users.
The surprising decision by Paysafe has triggered a series of unfortunate outages in Binance services for users in the European Economic Area, complicating what had been an established market for the global exchange. Binance had briefly allowed clients to use card services, which were banned for a month, but soon announced that they would be discontinued again in December. The provider, Paysafe, had unceremoniously dropped the service.
Despite the recent setbacks Binance has faced in Europe, the exchange has continued to take steps to mitigate the impact. This unfortunate development is another of the crypto exchange’s regulatory setbacks, particularly in Western markets. It will be interesting to see how Binance survives through increasing complexities while offering a robust suite of services for its worldwide user base.