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3 Must-Have Altcoins as Bitcoin Approaches $70K: Dogecoin (DOGE), Ripple (XRP) and IntelMarkets (INTL)

By
TI Partners
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0

The crypto market swung high, boosting confidence and sentiment at the same time. Bitcoin (BTC) flew past $65,000 and quickly approaches $70,000. Amid the bullish market conditions, the three must-have altcoins are Dogecoin (DOGE), Ripple (XRP) and IntelMarkets (INTL).

Their upside potential, not to mention budget-friendliness, puts them on course for massive gains, especially INTL. This emerging crypto promises almost 10% ROI in presale and more after its launch—one of the best coins to invest in.

IntelMarkets (INTL): A New Altcoin to Bet on Alongside Dogecoin (DOGE) and Ripple (XRP)

The AI-DeFi altcoin IntelMarkets (INTL) is quickly becoming an investor favorite given its bullish narrative. Its blend of AI with blockchain technology and DeFi drives early demand, pushing the presale past $570,000 in just a few weeks. With a full-blown bull market on the horizon, insiders believe this might be 2024’s best crypto investment.

At a token price of $0.018 in the second stage of the ICO, its entry is lower than most top crypto coins. Similarly, its upside potential is largely unrivaled, primed for a 5,000% rally after listing on Tier-1 exchanges. By providing early access to what might be the next big thing, it is tipped by top experts’ as 2024’s best presale.

Regarding its offering, it will build the first AI-powered trading platform, which will put it at the forefront of the $36 billion global crypto trading market. It will employ different advanced real-time processing tools to improve trading performance. Meanwhile, its trading robots can handle high data volumes at lightning speed while performing rigorous technical calculations from multiple markets in seconds.

Dogecoin (DOGE): On Track for a New Peak

Dogecoin (DOGE), a top altcoin and the first memecoin, is a must-have crypto heading into the year’s final quarter. As Bitcoin skyrocketed, it is one of the week’s top gainers, reclaiming lost price levels.

The Dogecoin price gained 8% on the daily charts. In the past seven days, it soared 15%, trading above the $0.12 mark. Next on its list is flipping the $0.2 resistance, which analysts believe might play out in the coming days.

Meanwhile, a Dogecoin price prediction hints at a rally above $1 before the year’s end—a new all-time high. At its currently low price, it is one of the best cryptos to buy now.

Ripple (XRP): A Sleeping Giant

Ripple (XRP) ends the list, hailed by experts as a sleeping giant. The long-drawn legal battle with the US SEC was at the heart of its bearish woes. But with the court’s final judgment set to force a reversing trend, it is among the best cryptos to invest in.

Amid the market bounce, the XRP price hovers around $0.58, with $0.65 the next price level to be flipped. Boasting significant upside potential, it is a must-have ahead of the anticipated full-blown bull market.

The $1 resistance is expected to be breached in the coming weeks, according to a popular XRP price prediction. Further, a new all-time high is on the cards, positioning it among the best cryptos to invest in. To make the most of the market’s next big leap, XRP is a horse worth backing.

Conclusion

Bitcoin crossing $70,000 will send a ripple effect across the crypto landscape, potentially sparking a bull run. The three altcoins to bet on are Dogecoin (DOGE), Ripple (XRP) and IntelMarkets (INTL). At the same time, to invest in the future of crypto trading, we suggest checking out the INTL presale.

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Some Key Policies in Nigeria – Let us Review The Predicted Impacts

By
Ndubuisi Ekekwe
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0

Time to review those predictions on recent policies:

1. Nigeria floats its currency.

My response: “Nigeria’s floating of its currency, while progressive, will cause severe perturbations in the economy – and a stable state may not come as most experts have predicted” – Ndubuisi Ekekwe, June 2023.

Remark: my postulation remains correct as that policy continues to alter the equilibrium points on many things, at family, state and national levels. Net welfare status is LOSS for most citizens.

2. JP Morgan projects that Naira will settle at N600/$ post-float.

My response: ‘“My perspective: I think JP Morgan may need to review. Whether you float, swim or fly Naira, Naira can only survive if the economy is productive with capacity to produce things (digital, physical, service, etc) to reposition the nation’s balance of payment and trade.”’ – Ndubuisi Ekekwe, June 2023, in a piece titled “Why JP Morgan’s Call on High N600s per US$ Stable State for Naira May Not Happen”.

Remark: Against all the leading global banks and our central bank which projected a stable state of around N700/$1, I am correct since the Naira is about N1,500/$ now.

3. Removal of Fuel Subsidy

My Response: “Nigeria will either pause the full floating of its currency or return back to fuel subsidy” because running both at the same will impoverish millions of citizens – Ndubuisi Ekekwe, July 2023.

Remark: even though the official unemployment rate (5.3%) is better than the rates in Germany and Canada, the government agency also noted that more citizens have moved into poverty, making their analysis illogical.

What was your prediction and how is that playing with reality so far? We have enough data now to evaluate.

Ripple (XRP) and Rexas Finance (RXS) Rally Ahead While Cardano (ADA) Struggles

By
TI Partners
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0

Over the past week, the crypto market has recorded some impressive moves as several altcoins prepare for a massive rally in October. Ripple (XRP) gained over 8% to surge above the $0.61 mark, while Rexas Finance continued its impressive presale run as it completed stage 2 within 12 days. However, Cardano, the popular Solana Killer, faces future uncertainties as continuous sell-offs from profit-taking holders dim ADA potential despite an 11% weekly surge.

Rexas Finance’s RXS token Presale Enters Stage 3

Since it was introduced on September 8, Rexas Finance has consistently been in the headlines due to its impressive presale performances. The project, which aims to democratize the real-world asset industry, entered stage 3 of its ongoing presale after completing stage 2 within twelve days, raising over $1 million. The wide acceptance owes greatly to Rexas Finance’s unique value proposition: making the real-world asset tokenization sector available to everyone, from anywhere, and at any given time of day. With the ability to tokenize factual assets like gold, real estate, and artworks, users have the opportunity to earn and invest in a previously illiquid market. Rexas Finance’s ecosystem is a robust setting of cutting-edge tools. The Rexas AI Token Builder eases the complexity of tokenizing valuable assets. With no coding skill required, anyone can tokenize a piece of metal with a few clicks.

Rexas Launchpad is another great tool in the broad ecosystem. This tool offers an avenue for innovative projects to seek funding. Rexas Estate controls the buying and selling of tokenized real estate. This option allows anyone to acquire a fraction of a whole property right from the comfort of their homes. To ensure transparency and safety, Rexas AI Shield monitors all transactions. To reward its dedicated community, Rexas Finance announced the jaw-dropping $1 million USDT Giveaway contest. Twenty top individuals will win 50,000 USDT when the promo ends. This announcement has gained prominence as over 17,000 individuals have entered the contest.

Currently trading at $0.05, over 60% of the Stage 3 presale has been secured by savvy investors. With a listing price of $0.20, early investors have the chance to earn over 6x on their investments. Furthermore, experts are predicting a 100x RXS token rise post-launch.

Ripple (XRP) To Soar as Stablecoin Launch Nears

Amid the anticipated launch of its Stablecoin (RLUSD), Ripple continues to attract attention. XRP recently saw a 7% price gain as it moved above $0.61 to test the $0.66 mark before falling back below $0.60. The recent dip follows a notable well-off by a renowned XRP Chairman, Chris Larson.  Chris has moved a total of 38M XRP tokens to exchanges, sparking deep concerns about a potential dip. However, enthusiasts like CryptoTank predict XRP might rise to $1 million, discarding the selling pressure.

Currently trading at $0.5868, many experts predicted that if Ripple trades above the new resistance level, it might see a notable price move above $1 soon. The ongoing positivity in the Ripple ecosystem also paints a bullish picture. Ripple recently won its case against the SEC after years of continuous litigation. Also, Robinhood announced that it’s relisting the XRP on its trading platform. Further boosting the appeal is the recent launch of XRP ETF Trust by Grayscale. These developments position XRP for a crucial rally in the coming months.

Cardano Struggles to Sustain Momentum

While Rexas Finance and XRP are in a positive mood, it appears Cardano’s price struggle is set for another round of issues. Having underperformed for the majority part of the year, Cardano has gained a notable 11% rise in the past week. However, this turn of fate seems to be a nemesis as ADA holders are taking profits. Usually considered the main players in the market, Whales have become negative about the price perspective of Cardano. Over 320 million ADA have been offloaded over five days from addresses ranging from 10 million to 100 million ADA.

Valued at more than $112 million, this supply shows that big investors are no longer hoping for further gains. Trading at $0.37, Cardano’s price recently increased by 11%. Now, ADA is just 7% away from the vital $0.39 resistance. Nonetheless, ADA is probably going to fail to climb above the $0.39 barrier, given the continuous whale sell-offs and declining macro momentum. Rather, the altcoin might settle below this level, maybe testing $0.36 as the lower limit of its present trading range.

Conclusion

XRP and Rexas Finance are among the top coins looking set for a big rally. However, a recent sell-off by Cardano whales has put the token in another potential dip just immediately after breaking its long-term resistance. With its recorded results so far, Rexas Finance remains in contention to transform the RWA investment scene. At just $0.05, now is the right time to jump on the Rexas Finance train.

 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

Nigeria’s Money Supply Hits Record N107.1tn, Raising Inflationary Fears Amid Monetary Tightening Efforts

By
Samuel Nwite
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0

Nigeria’s money supply (M2) hit a historic peak of N107.1 trillion in August 2024, reflecting a 0.75% month-on-month rise from July’s figure of N106.3 trillion and a more substantial 5.6% increase from N101.4 trillion in June.

The surge, reported by the Central Bank of Nigeria (CBN), has heightened concerns about liquidity and inflation management, as policymakers grapple with maintaining a delicate balance between fostering economic growth and controlling price hikes.

This jump represents a staggering 65% year-on-year increase, with M2 climbing from N64.8 trillion in August 2023. The surge is primarily driven by quasi-money (savings, term deposits) and demand deposits, which have seen significant rises of 77% and 43%, respectively. Both components are influenced by the devaluation of the naira against foreign currencies, underscoring the deep impact of Nigeria’s volatile foreign exchange market on domestic money supply.

Components Driving the Surge

The money supply encompasses currency in circulation, demand deposits, and quasi-money, all of which signal the growing liquidity in Nigeria’s financial system. By August 2024, currency outside banks reached N3.8 trillion, demand deposits hit N31 trillion, and quasi-money ballooned to N72.2 trillion, all of which are symptomatic of the country’s mounting liquidity despite the CBN’s efforts to tighten monetary policy.

A significant driver behind this expansion has been the rise in forex-related components within quasi-money and demand deposits, particularly as individuals and corporations have sought to hedge against the naira’s devaluation by holding foreign currencies.

Defying Tighter Monetary Policy

In its September 2024 meeting, the CBN’s Monetary Policy Committee (MPC), chaired by Governor Olayemi Cardoso, raised alarm over the unchecked rise in money supply and its potential to stoke inflation. In response, the MPC made a significant move to curb excess liquidity, voting to raise the Monetary Policy Rate (MPR) by 50 basis points to 27.25%. This marked a continuation of the CBN’s tightening stance, aimed at containing inflationary pressures.

The committee also adjusted the Cash Reserve Ratio (CRR) for Deposit Money Banks, raising it by 500 basis points to 50%, while the CRR for Merchant Banks was increased by 200 basis points to 16%. These measures are intended to limit the liquidity available for lending, in a bid to cool off demand-side pressures in the economy.

In addition, the MPC acknowledged the government’s fiscal deficit but praised its commitment to avoiding monetary financing through the Ways and Means channel, which could inject further liquidity into the economy and worsen inflation.

Despite the central bank’s efforts, inflationary pressures have continued to threaten economic growth. Headline inflation eased slightly to 32.15% in August, thanks to a moderation in food prices. However, core inflation, which excludes volatile food and energy prices, remains stubbornly high, driven largely by surging energy costs. This persistent inflation has created a dilemma for the CBN, as it seeks to balance inflation control with the need to support economic recovery.

The MPC made a fresh decision to hike rates to curtail the pace of inflation. However, the rising money supply complicates these efforts, as higher liquidity can spur demand in an economy where production remains constrained. Economists note that if the supply of goods and services does not keep pace with rising demand, prices could continue to climb, undermining the CBN’s efforts to stabilize inflation.

Implications of Rising Money Supply

The growing money supply has mixed implications for Nigeria’s economy. On one hand, increased liquidity can provide a short-term boost by making credit more accessible to businesses. This, in turn, can drive investment, job creation, and production, contributing to economic growth. On the other hand, excessive money supply growth, without a corresponding rise in productivity, risks fueling inflation, particularly in an economy already grappling with price instability.

Economic analysts have raised concerns about the risks posed by the rapid increase in money supply. According to financial analyst Kalu Aja, “The issue is not the N107 trillion; the problem is that nothing is being produced with that N107 trillion.”

He explained that wealthier individuals and businesses are converting naira earnings into foreign currency, while those less well-off are forced to buy increasingly expensive goods with a depreciating currency.

Aja’s analysis underlines a broader concern about Nigeria’s economic structure. “The solution,” he argued, “is to make manufacturing great again in Nigeria, reduce the cost of local production, and improve local productivity.”

If local production can be increased, Aja suggests, it could absorb the excess liquidity in the system and help stabilize prices.

It is believed that efforts to tackle rising inflation have failed because Nigeria’s policymakers face the challenge of managing an ever-growing money supply in a high-inflation environment. Experts have noted that while monetary tightening measures like interest rate hikes and increased CRR can help absorb some of the excess liquidity, these policies alone may not be enough to address the underlying structural issues in the economy.

In addition to boosting local production, economists have emphasized the need for significant reforms, including addressing infrastructure deficits, reducing the cost of doing business, and improving the overall investment climate. Without these reforms they said, the risk remains that the rising money supply will continue to outstrip production, leading to further inflationary pressures.

Uniswap And AAVE DeFI Traders Eye New PropFi Platform Where Users Are Paid To Trade

By
TI Partners
-
0

Uniswap (UNI) and Aave (AAVE) traders are shifting focus to this new PropFi platform because of the huge benefits for traders. This new trading platform stands out among the rest because it ensures users are paid to trade.

In this article, we will examine how this new trading solution makes trading much more lucrative and how DeFi traders can take advantage of its offerings. 

Uniswap Struggles To Recover From August Slump 

UNI was hard hit by the general market slump in August 2024, experiencing two major dips and falling to $4.72. However, while most of the market has recovered from the slump, UNI is still struggling. The token is trading at 7.3% below its price a month ago. 

Uniswap’s recovery has not been helped by its recent run-in with the US Commodity Futures Trading Commission (CFTC) concerning illegal derivatives trading. Although Uniswap immediately paid a fine, it impacted UNI’s price in the past month. 

Meanwhile, crypto market analysts say UNI could remain below $8 for the next few weeks because of its current ranging movement. 

AAVE’s Rise Might Push DeFi Traders to Diversify Profits

AAVE has led the DeFi resurgence after the last crypto slump. The token has gained an impressive 10.6% in the past 30 days, hitting its highest price in two years. 

A report claims the latest US rate cuts have driven investors to DeFi protocols. Aave’s strong fundamentals and attractive yields might have ensured that it received the lion’s share of this renewed interest. 

However, DeFi traders can now invest profits from AAVE’s rise in this new PropFi platform that pays them for just trading. This could help them grow the value of their portfolios and diversify against the risk of another slump. 

FXGuys: A PropFi Platform Where Users Are Paid to Trade

FXGuys is a traders’ paradise. It is a decentralized multi-asset broker and proprietary trading firm that allows DeFi traders to trade FX, crypto, commodities, and indices.

This PropFi platform has a first-of-its-kind trader development program that handsomely rewards promising traders in various ways. This program provides opportunities and access to talented traders wherever they are. 

To benefit from FXGuys’ unique initiative where users are paid to trade, you must first go through a challenge phase. You are required to meet certain objectives but without a time limit. After you pass the challenge, you are eligible for up to $200,000 in a fully funded account. 

FXGuys pays you with $FXG tokens for every trade you execute, whether you make a profit or not. Profitable traders also earn 80% of their earnings, with FXGuys taking 20%. The profit margin can increase as the trader scales their earnings.

Buy $FXG And Enjoy Huge Profits And Other Perks!

The protocol is currently in Stage 1 of its ongoing presale, and $FXG is sold for $0.03. This first stage is already halfway gone as investors hurry to take advantage of the token’s cheap price. 

Investors who buy $FXG now will enjoy an impressive 33% profit by Stage 2 and a whopping 200% gain by launch. Other perks of owning $FXG for DeFi traders include trading discounts, voting rights, and revenue shares. 

Therefore, invest in FXGuys, get paid to trade, and become an integral part of this revolutionary PropFi platform!

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