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Crypto Market Comeback hasn’t helped Stablecoin Volumes says Fitch

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The crypto market has seen a remarkable recovery in recent months, with many coins reaching new highs and attracting more investors. However, this comeback has not translated into a significant increase in stablecoin volumes, according to a report by Fitch Ratings.

Stablecoins are digital tokens that are pegged to a fiat currency or a basket of assets and are designed to maintain a stable value regardless of market fluctuations. They are often used as a medium of exchange, a store of value, or a hedge against volatility in the crypto space.

According to Fitch, the total market capitalization of stablecoins grew by 158% year-to-date to $115 billion as of June 28, 2023. However, this growth was largely driven by the increase in the price of the underlying assets, rather than by the expansion of the user base or the transaction volume. Fitch estimates that the average daily transaction volume of stablecoins was $42 billion in June 2023, down from $63 billion in May 2023 and $113 billion in April 2023.

Fitch attributes this trend to several factors, such as:

The dominance of Bitcoin and Ethereum in the crypto market, which account for more than 60% of the total market cap and have seen strong price appreciation and investor interest.

The regulatory uncertainty and scrutiny surrounding some stablecoins, especially Tether, which is the largest and most controversial stablecoin issuer. Tether has faced allegations of insufficient backing, lack of transparency, and involvement in market manipulation. The competition from other forms of digital payments, such as central bank digital currencies (CBDCs) and digital wallets, which may offer more convenience, security, and legitimacy than stablecoins.

Fitch noted that stablecoins may face more challenges in the future, as regulators and central banks seek to establish clear rules and standards for the crypto industry. The report also warns that stablecoins may pose systemic risks to the financial system if they are not adequately backed, regulated, and supervised.

UK Financial Regulators Issue Compliance Deadline for Crypto Promotions

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The UK Financial Conduct Authority (FCA) has announced that all cryptoasset businesses must comply with its rules on financial promotions by 31 March 2024. The FCA said that this deadline will give crypto firms enough time to prepare and implement the necessary changes to their marketing materials and practices.

The FCA’s rules on financial promotions aim to ensure that consumers are not misled or confused by the advertisements or communications of financial products or services. The rules require that any financial promotion is clear, fair and not misleading, and that it includes appropriate risk warnings and disclosures.

The FCA said that it has observed a significant increase in the number of cryptoasset businesses that are engaging in financial promotions, especially online and on social media platforms. The FCA warned that some of these promotions may be misleading, inaccurate or omit important information, such as the risks of investing in cryptoassets or the regulatory status of the firm.

The FCA said that it will continue to monitor the market and take action against any cryptoasset business that breaches its rules on financial promotions. The FCA also reminded consumers that most cryptoasset businesses are not authorised or regulated by the FCA, and that they may not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong.

The FCA’s announcement follows its previous guidance on cryptoassets, which clarified how different types of cryptoassets fall within its regulatory perimeter. The FCA also introduced a temporary registration regime for cryptoasset businesses that applied for registration before 16 December 2020, and extended it until 31 March 2022.

Are AI Cryptos Safe? A Look at Fetch & InQubeta vs DogeMiyagi

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As the formidable wave of ChatGPT and akin solutions sweeps across the tech sphere, investors and venture capitalists are shifting gears, fervently turning their gaze towards burgeoning AI initiatives.

CB Insights affirms this trend, noting an impressive $5 billion venture capital flood into AI start-ups in Q1 2023, hot on the heels of 2022’s substantial $40 billion inflow. While the wheels of progress churn rapidly for tokenization and Web3, an intriguing rivalry emerges between AI and crypto.

This article ventures into the electrifying realm of AI tokens, spotlighting Fetch.ai and Inqubeta, the vanguards of tomorrow. Alongside, we unravel the narrative of an audacious meme coin, DogeMiyagi, armed with a unique referral system.

Fetch: Harnessing The AI Wave

Fetch.ai’s FET was forging ahead into 2022’s second quarter with an undeterred momentum, hitting milestone after milestone on its roadmap. Such steadfast progress, coupled with the escalating adoption of ChatGPT and its equivalents, underscores the skyrocketing investor interest in AI ventures.

Fetch.ai (FET) is an innovative blockchain platform fusing blockchain, machine learning, and the crypto economy through the FET token. Its decentralised machine learning platform benefits a broad spectrum, encompassing IoT, energy, automotive, logistics, tourism, and the DeFi sector.

Fetch.ai has partnered with Bosch to foster Web3 and AI tech, embracing a three-tier governance structure inspired by the Linux Foundation’s decentralised model. Now aiming to include native staking in the wallet, Fetch.ai has achieved 45% of its Q2 roadmap objectives.

Inqubeta: Democratizing Investment In AI Startups

InQubeta, a blockchain consultancy, is shaping the DeFi space with its community-centric development and crowdfunding possibilities. With its presale now open, users can partake in its journey, tracking its latest advancements. The platform’s unique proposition lies in its community-driven growth facilitated by its native token, QUBE.

This democratises investment in AI tech start-ups, making it viable for various budgets. Gaining traction alongside altcoins like Monero and Cardano, InQubeta, centred around AI start-ups, offers promising future growth.

InQubeta, given its sophisticated technology and growth potential, emerges as a compelling investment option, especially for Fetch AI investors. Its presale provides a gateway to early benefits from its potential ascent in the AI and blockchain universe.

DogeMiyagi: Meme Culture Meets Blockchain

Breaking through the meme coin market, DogeMiyagi (MIYAGI) strives to partake in and spearhead the unfolding NFT revolution. Early participation in DogeMiyagi’s presales presents a unique opportunity to share in a potentially monumental growth journey and experience the thrill of a transformative project.

More than a mere token, MIYAGI personifies the zeitgeist, weaving meme culture into blockchain technology. Its resonance with a broad audience, inspired by the beloved Karate Kid franchise, is redefining perceptions of meme coins.

An imminent presale presents a chance for early backers to support a project poised to disrupt the space. DogeMiyagi’s decentralised exchange, the Killer Swap Machine, provides a user-friendly and efficient trading platform for its community.

The anticipated success of DogeMiyagi relies on its strategic fusion of nostalgia, cutting-edge technology, and a community-first ethos. By leveraging innovative social media strategies, compelling storytelling, and fostering a sense of investor ownership, DogeMiyagi could be on the brink of meme coin eminence. Keep an eye on this unique player in the crypto sphere.

Future OF AI Coins

As we embark on the exciting journey of exploring the intersection of AI and cryptocurrency, one question beckons – are AI coins truly safe? Our expedition into Fetch.ai, InQubeta, and DogeMiyagi offers a tantalising glimpse into the future of digital assets.

Fetch.ai and InQubeta, with their rapid strides in AI, showcase the powerful potential inherent in the blend of AI and blockchain. Meanwhile, Doge Miyagi is trailblazing a new path in the meme coin sector. This dynamic trio exemplifies the tension between AI and crypto, a compelling rivalry that might reshape our technological horizon.

However, amidst the excitement of rapid innovation and potential growth, it’s crucial to assess the security aspects of these investments. As we watch these groundbreaking narratives unfold, let’s also remain diligent, making safety and security an integral part of our investment considerations in the ever-expanding crypto verse.

DogeMiyagi:

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

 

VeChain, Binance, And BEASTS Coin: Quick Gain Or A Strategic HODL?

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Playing in the crypto market is a delicate game. Most investors prowl between making money in the long run and getting rich in the short run. As every investor aims to be at the top of the chain, they analyze every market aspect to gain the most out of the venture, especially the meme coin industry. One such method that is gaining traction is the referral program. In this article, we will look into major coins such as VeChain (VET), Binance (BNB), and the upcoming king of the Referal program, BEASTS Coin (BEASTS). Let’s learn all about it. 

VeChain: The Power of Blockchain Traceability

Leading cryptocurrency VeChain offers a distinctive value focusing on managing the supply chain and product traceability. VeChain uses blockchain technology to guarantee reliability, safety, and accountability across various sectors, including luxury products, the farming industry, and logistics. VeChain allows companies and consumers to trace and confirm the authenticity of products using its blockchain infrastructure, reducing piracy and boosting trust.

Using the VeChainThor blockchain and two native coins, VET and VTHO, the VeChain platform operates. While VTHO is the utility token that drives the VeChain ecosystem, VET is the primary token utilized for operations. Users enjoy an excellent user experience because of this dual-token scheme, which rewards node operators for securing and maintaining the network. Regarding immediate returns, VeChain has seen consistent growth over time, with its price reflecting the rising technology adoption. However, VeChain’s future potential is where its true worth rests. VeChain has the potential to play a significant role in the worldwide marketplace as more sectors start to understand the value of supply chain transparency.

BNB: Binance’s Mitochondria

BNB, the native token of the Binance platform, has gained significant popularity in the crypto community. Binance, one of the world’s largest cryptocurrency exchanges, has created an entire ecosystem around Binance, providing various use cases for the token. Binance can be used for trading fee discounts, participation in token sales, and even as a form of payment for goods and services.

One of the critical advantages of Binance is its utility within the Binance Smart Chain (BSC). BSC offers a scalable and cost-effective platform for decentralized applications (dApps) and decentralized finance (DeFi) projects. By leveraging BNB within the BSC ecosystem, users can access various innovative applications and investment opportunities. BNB has shown impressive price performance, often driven by its strong connection to the overall performance of the Binance platform. However, beyond short-term gains, BNB’s long-term prospects remain promising. As Binance continues to expand its services and support the growth of the BSC ecosystem, BNB stands to benefit from increased adoption and utility.

BEASTS Coin: The Long Game Player

The creation of imprisoned monsters is essential to the monster’s Coin concept. Early investors have a solid motive to engage even though the precise information about the growth stages has yet to be disclosed. Dr Jekyll and Dr Rabbit Hyde inspired the project’s intriguing tale, providing a sense of mystery and thrill. The BEASTS Coin plot gains depth due to Dr Jekyll’s pursuit of creatures that have undergone genetic mutation to eradicate human infection.

The referrer and the person they refer profit when a new customer enters a referral code before making a transaction. The new buyer’s purchase value in the cryptocurrency utilized in the transaction’s completion is sent to the referrer in 20% commission. The referring individual additionally receives 20% more BEASTS tokens simultaneously. Thanks to this win-win scheme, community members are urged to recommend others and take an active role in the development of BEASTS Coin.

BEASTS Coin enthralls its community and leaves a lasting impression. BEASTS Coin distinguishes itself from VeChain and Binance with an intriguing narrative, a dedication to charitable causes, and a ground-breaking referral mechanism. BEASTS Coin seeks to increase brand recognition and draw in investors wanting to make the next significant cryptocurrency investment by utilizing its distinctive features. Interested parties can register their email and participate in the presale through the BEASTS Coin website to become a member of the BEASTS Coin community and join this ground-breaking enterprise. BEASTS Coin wants to produce a unique cryptocurrency experience. Let’s unleash the BEASTS’ might together!

 

BEASTS Coin

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

Gambling on the Go: Play Crypto Casino Games Anywhere with Scorpion Casino

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For as long as money itself has existed, people have used it for traditional and online gambling, so it is safe to say that it’s not going anywhere any time soon. Being one of the oldest pastimes in almost every culture, it has gone through a plethora of evolutions, making the gambling industry one of the most lucrative and popular industries in the world. Now, with the advent of online gambling, the industry has become easy, accessible, and welcoming to people of all backgrounds and ages.

The Future of Online Gambling

While gamblers have been turning to online gambling for some time now, in recent years, crypto casinos have seen a massive increase in traffic as they offer a breath of fresh air into the scene. Gone are the days of sitting in with the bookies, trying to find your betting slip which is crumpled in some unfindable pocket as you struggled to calculate what you may or may not have won. As crypto casinos allow instant rewards, betting on everything from sports to online games of blackjack and roulette, the industry has become the preferred choice for many enthusiasts. One of the biggest draws to the thrilling world of crypto casinos is the accessibility to it, as online gambling is restricted in many countries, and crypto casinos, like Scorpion Casino (SCORP), offer a way around this.

What is Scorpion Casino?

Scorpion Casino is a casino that allows users to access its games from anywhere in the world, using crypto to ensure security and anonymity for its users. Cryptocurrency has the benefit of being a borderless, decentralised, and anonymous payment solution, which is what makes crypto betting such a brilliant global concept for gambling fans, no matter where they are in the world. As well as being able to bet using some of the most popular cryptocurrencies on the market, like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), Scorpion Casino also gives players the unique opportunity to earn passive income in their native token $SCORP, with the potential to earn up to $10,000 daily based on the daily usage of the Scorpion Casino website.

Benefits of the Blockchain

Gambling on the blockchain is an exciting prospect as it not only gives users the opportunity to explore this popular activity with a rich cultural history regardless of their local gambling restrictions but also because, with the success of crypto casinos such as Scorpion Casino, the added benefits like the rare opportunity to earn passive income alongside the possibility of winning big are inspiring more and more users to make the switch from online gambling to crypto casinos.

As the online gambling industry continues to grow and evolve, and with no signs of slowing any time soon, crypto casinos like Scorpion Casino are the latest upgrade that threatens to revolutionise gambling, making it even more accessible and appealing than ever before. Anybody in the world can be a part of the Scorpion Revolution, and it will take us closer than ever before to gain financial freedom in the most fun way imaginable.

Scorpion Casino (SCORP):

Presale: https://presale.scorpion.casino/

Website: https://scorpion.casino/Casino

Instagram: https://www.instagram.com/scorpion.casino