Coinbase, one of the leading cryptocurrency exchanges globally, faces a lawsuit from US regulators, hot on the heels of similar legal action against Binance, another industry heavyweight.
The Securities and Exchange Commission (SEC) accused Coinbase of operating illegally without prior registration, a mandatory requirement for securities trading firms in the US.
Considering this recent macroeconomic development, what are the best cryptos to buy now?
Gary Gensler, the SEC’s chairman, indicated that Coinbase’s alleged shortcomings deprived investors of critical protections including preventive measures against fraud, proper disclosures, and safeguards against conflicts of interest.
The news sent Coinbase shares plunging by over 16% in premarket trading.
This regulatory scrutiny emerges a day after Binance, the largest crypto exchange worldwide, confronted comparable accusations of violating US securities laws.
Binance’s founder, Changpeng “CZ” Zhao, along with his firm, was alleged to have engaged in deceptive practices, misused investor funds, and functioned as an unregistered exchange, violating security regulations.
Responding to the accusations, Zhao questioned the SEC’s concern for consumer protection and posited that the fault might lie with the SEC if they are continuously at odds with everyone.
The SEC presented evidence alleging that Binance’s former chief compliance officer, Samuel Lim, admitted to operating an unlicensed securities exchange in the US.
In the past 24 hours, Binance’s trading volume has decreased by 16.20% to $9,961,464,264.
Binance, now facing thirteen charges from the SEC, is also accused of mishandling customer assets through a subsidiary owned by Zhao.
The current charges reflect accusations made against FTX, another significant cryptocurrency exchange, which collapsed last year.
Despite the litigious environment, Binance insists on its cooperative stance with the SEC’s investigation, while criticizing the regulator’s unilateral actions.
Paul Grewal, Coinbase’s chief legal officer, voiced his concern over the SEC’s enforcement-centric approach without clear industry rules, which he claimed harms American economic competitiveness and compliant companies like Coinbase.
Advocating for fair and transparent legislation over litigation, Grewal reassured that Coinbase would continue to operate as usual.
While the regulatory scrutiny surrounding leading crypto exchanges is troubling, the overall cryptocurrency market has remained resilient.
Bitcoin is up by 4.91% so far today as the leading cryptocurrency by market cap attempts to remount the $27,000 level. Ethereum is up by 3.88% so far today as it currently trades at 1,880.
In light of this, WSM, BGB, ECOTERRA, QNT, YPRED, KAVA, and DLANCE are some of the best cryptos to buy now.
Wall Street Memes: One of the Best Cryptos to Buy Now for Potential Returns
When we consider the future of cryptocurrency, one name that stands out is Wall Street Memes ($WSM). Their presale has already secured a remarkable $4.69 million in funding in just 10 days.
The fundraising efforts are still in progress and continue to gain momentum at an impressive pace.
Presently, each token sells for $0.0277, the price will experience an increase to $0.028 as soon as the fundraising total reaches $5,270,000
Excitement has been sparked among this meme coin’s one million followers across multiple social media platforms, with 524k avid members following the @wallstbets Instagram account, an additional 225k on Twitter, and over 100k across its other Instagram channels, including @wallstgonewild and @wallstbullsnft.
Meme coins continue their market momentum, and the arrival of WSM seems perfectly timed.
Seasoned crypto investors scouting for prospective meme coins to follow in the footsteps of Dogecoin, Shiba Inu, and recently Pepecoin, have zeroed in on Wall Street Memes as a potential contender.
Leveraging their experience from the meme stock frenzy during the Covid-19 pandemic, the team behind the Wall Street Memes token has established expertise in community building.
WSM’s vision is to become the ‘King of Memes’, a title to complement its existing ‘King of Stonks’ recognition.
Its loyal follower base of 1 million, and attention from top-tier exchanges like Binance, mark WSM as a promising candidate for major crypto exchange listing.
Wall Street Memes plans to disrupt the financial scene by advocating for a democratic financial system, embodying this vision through the tokenization of the movement.
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Bitget Token (BGB)
BGB has exhibited sideways trading behavior over the past month, with a trading range of $0.43187 to $0.51001. The current price of $0.47160 for BGB is above the Fib 0.236 level of $0.46542.
While this may not necessarily indicate a strong bullish trend, it could be seen as a potentially positive sign for traders to consider in their analysis.
Looking at the EMAS, the 20-day EMA stands at $0.46198, which BGB has successfully surpassed, indicating a bullish trend.
The 50-day and 100-day EMAs, at $0.44328 and $0.40864 respectively, are also comfortably below the current price, suggesting a positive longer-term trend.
The RSI is registering 56.43, indicating that buying pressure is building up. Although not yet in the ‘overbought’ territory (RSI>70), traders should monitor this closely as a sharp rise could indicate an impending price correction.
The MACD histogram currently reads -0.00111, up from yesterday’s -0.00152. Although still in the negative zone, the increasing histogram implies that the bearish momentum is losing strength, and we may be on the brink of a bullish crossover, which is a potentially powerful buy signal.
BGB faces substantial resistance between the area of $0.48768 to $0.49128. If the positive momentum continues and BGB breaks past this resistance, it may target the range high of $0.51001.
As for support, the Fib 0.236 level at $0.46542 followed by the trailing 20-day EMA act as buffers against any price dip. Based on these technical indicators, BGB appears to be demonstrating bullish tendencies.
Traders should carefully monitor these indicators to time entries and exits accurately, as the situation warrants.
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Crypto Rewards for Recycling: ecoterra’s Green Web3 Solution
ecoterra, a green web3 project focused on promoting sustainability and environmentally friendly practices, has integrated leading beverage brands such as Coca-Cola, Carlsberg, and Evian into its recycle-to-earn (R2E) system.
The R2E system incentivizes recycling by providing users with digital currency in exchange for recycled bottles. users can scan and deposit bottles from these brands, among others, using reverse vending machines (RVMs).
ecoterra’s integration of these prominent brands into its R2E system enhances the platform’s potential to promote eco-friendly behaviors.
The goal of the platform is to encourage recycling, stimulate the trading of recycled materials, and promote carbon footprint offsetting by both businesses and individuals.
The $ECOTERRA token is the platform’s unique selling point, with its utility on the platform being its primary feature.
The development team plans to introduce a staking protocol that will allow ECOTERRA holders to earn passive income.
With its total supply capped at two billion, 50% of which is available to presale investors, and only 5% allocated to the team, this platform presents an interesting model for the cryptocurrency market.
ecoterra’s success in fundraising for its platform development reflects its growing acceptance and popularity. The platform has already won awards for its pioneering approach to promoting sustainability.
The increasing importance of green web3 initiatives like ecoterra in the fight against climate change has led analysts to predict a bright future for $ECOTERRA.
With the potential to significantly increase its value when it debuts on cryptocurrency exchanges later in the year, $ECOTERRA is one of the best cryptos to buy now for those looking to support sustainable practices and promote environmental responsibility.
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Quant (QNT) is showing signs of bullishness today after a brief downward turn last week.
QNT experienced a slight drop in value after reaching a price target set by the Fib 0.618 level of its previous upswing.
However, today QNT appears to be gaining strength as the price attempts to move higher and retake several significant price levels.
At the time of this writing, QNT is trading at $117.20, up 4.83% so far today. This price is testing the resistance level near the Fib 0.618 level at $120.
Based on key indicators, QNT could continue climbing higher if it remains above the Fib 0.5 level at $115.50 and the 100-day EMA at $115.56.
The 50-day and 20-day EMAs, currently at $111.52 and $111.03 respectively, also remain below the current price—another bullish signal.
The RSI has increased to 60.76 from 53.27 yesterday, indicating strengthening buying pressure.
Trading volume has also risen substantially, up 25.4% to $29 million in the past 24 hours, according to CoinMarketCap.
While the MACD histogram has fallen slightly to 1.2 from 1.3, the overall MACD pattern continues to signal further upward momentum may be ahead.
The prevailing indicators suggest that QNT is currently being controlled by the bulls.
Nevertheless, keep in mind that any dip below critical support levels could rapidly undo recent gains.
Traders are recommended to keep a close watch on QNT while implementing strict risk management strategies to safeguard their investments.
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yPredict Is One of the Best Cryptos to Buy Now for Its Ai-Powered Trading and Productivity Tools
yPredict, an AI-driven cryptocurrency price forecasting system, has achieved a significant milestone by raising over $2.1 million during its presale.
This accomplishment is attributed to the platform’s introduction of a diverse set of cutting-edge AI-based tools, including a cost-effective independent content system designed to streamline content production for medium to large content production teams.
With features such as user management, task assignments, and an AI-driven content editor and scoring system, the content system promises to enhance productivity.
yPredict’s CEO, Raj Sharma, expressed his excitement about the company’s expanding product suite, which caters to a wide range of sectors.
AI technology is impacting various sectors, with advancements such as the rise of AI-driven chatbot ChatGPT and its competitors.
AI is already exhibiting significant influence in financial market price prediction. yPredict leverages AI-generated insights to give traders an advantage.
The platform is developing a state-of-the-art crypto research and trading platform that delivers traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and social/news sentiment features.
The technology underpinning the platform was developed using predictive models and data insights built by the top 1% of AI developers and quantitative analysts.
The $YPRED token issued on the Polygon blockchain plays a key role in yPredict’s AI trading platform.
New users will need to pay a $YPRED subscription fee to access yPredict’s premium features.
Ten percent of these fees will be distributed to existing $YPRED token holders, creating an incentive for them to hold their tokens as they receive a passive income stream.
Token owners can also stake their tokens in pools to earn monthly rewards. yPredict’s AI-trading platform operates on a freemium pricing model with three membership levels: free, active, and pro trader.
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Kava (KAVA) is experiencing a surge in trading price today, with a 5.61% increase so far driving its current valuation to $1.073.
KAVA is consolidating above the Fib 0.786 level at $1.037, which could serve as a launching pad for a bullish market trend in the future.
The ongoing price action of Kava (KAVA) unveils an exciting confluence with a key Fibonacci level.
Despite a slight hiccup, wherein the token faced a firm rejection at the Fib 0.618 resistance level of $1.147, it registered an intraday high of $1.140, suggesting a strong bullish undercurrent in the market.
The 20-day EMA at $1.0316, the 50-day EMA at $0.9717, and the 100-day EMA at $0.9437 all lie below the current price level.
This sequence of EMAs signifies an ongoing uptrend, validating the bullish sentiment surrounding Kava.
The RSI has risen from yesterday’s 50.77 to 57.12 today, implying increased buying pressure and an overall positive shift in market sentiment.
This uptick in RSI could signal traders to prepare for a potential surge in Kava’s price action in the near future.
The MACD histogram is currently at -0.015, down slightly from yesterday’s -0.020, the difference is marginal. While it is currently negative, the slight decrease indicates a reduced bearish momentum.
Traders should keep an eye on this metric for a potential positive crossover, which could signal an opportune time to enter the market.
In light of these technical indicators, Kava’s immediate support lies at the Fib 0.786 level at $1.037, which aligns nicely with the horizontal support area of $1.036 to $1.073. The resistance, on the other hand, is posed at the Fib 0.618 level at $1.147.
Ultimately, KAVA’s price action suggests promising bullish undertones. As it continues to consolidate above the Fib 0.786 level, traders should remain vigilant for the impending bullish continuation, guided by the insights derived from these technical indicators.
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DeeLance: Unlocking the Future of Freelancing through Secure NFT Tokenization
Utilizing cryptocurrency and NFTs, DeeLance, a platform for freelancers in the metaverse, has achieved a remarkable milestone by raising more than $1.27 million so far through the sale of its native $DLANCE cryptocurrency token.
By removing intermediaries like Fiverr and Upwork, and by addressing the issues of inequity that have long plagued the freelance industry, the platform is seeking to fundamentally reshape the $761 billion recruitment sector.
DeeLance’s approach involves tokenizing freelance work products into NFTs, providing a secure transfer of work ownership, and addressing concerns such as copyright infringement and payment fraud.
DeeLance has received a substantial investment of $1.12 million from Bitgert Ventures in a strategic partnership, potentially boosting its development roadmap and opening doors to further investment opportunities.
The platform has gained positive attention on social media and has been evaluated favorably by renowned crypto-analysis websites, leading to optimistic predictions for $DLANCE in the near future.
The presale momentum has pushed DeeLance into stage 4, increasing the price of $DLANCE to $0.038.
Early adopters of DeeLance have the potential to benefit, particularly with the expected listing price of $DLANCE set to be $0.057 across major cryptocurrency exchanges later this year.
DeeLance is also hosting a $100K $DLANCE token giveaway competition.
DeeLance’s platform will offer transparency and security through its blockchain-based escrow and smart contract systems.
The platform has undergone audits and certification from SolidProof and Coinsuls, ensuring the safety of its operations.
With accessible sign-up requirements and low fees, DeeLance is disrupting the digital freelancing space.
DeeLance’s ambition to establish a metaverse powered by cryptocurrency and NFTs holds promise for changing traditional recruitment practices.
With its unique approach, strategic partnerships, and positive social media attention, DeeLance is one of the best cryptos to buy now, especially in the evolving industry of remote gig work.
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Source: crypto news
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