Cryptocurrency

The funding was seeded by venture capital firms Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures and Youbi Capital. Individual investors include Bo Feng of Dragonfly Capital, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network. According to developers, the funds will be primarily used to develop Tabi’s gaming ecosystem and construct its upcoming on-chain identity protocol.Continue Reading on Coin Telegraph More

In a recent interview, Crypto Banter founder Ran Neuner sat with crypto analyst Sheldon the Sniper to discuss the spike in Bitcoin’s price. The duo highlighted the recent announcement made by Hong Kong’s Securities and Futures Commission, which unveiled plans to permit retail investors to trade select crypto assets from June 1.According to Neuner, this regulatory development is believed to be one of several driving forces behind the recent pump in Bitcoin’s value. Following the announcement, cryptocurrency prices experienced an upward trend, with Bitcoin surging by 1.7% and surpassing the crucial price resistance of $27,000. At the time of writing, Bitcoin stands at $27,950, exhibiting a 2.92% increase in the past 24 hours.Throughout May, the leading cryptocurrency had been trading within a narrow range, struggling to surpass the $30,000 mark while managing to stay above $25,000. Given the lack of significant catalysts and a period of subdued trading, this news arrives as a promising development for the market.Binance CEO Changpeng Zhao took to Twitter on May 27, drawing attention to the release of a Web 3.0 white paper by the Beijing government tech committee, coinciding with the anticipation of Hong Kong’s retail trading launch. For Neuner, CZ’s tweets hint at the Binance CEO’s bullish sentiment.The Hong Kong announcement aligns with long-standing expectations that advancements in Asia would serve as a catalyst for the next crypto bull run, in contrast to the regulatory climate in the West, particularly the US. Neuner emphasized,Furthermore, Neuner mentioned about a tweet from Colin Wu, a Chinese reporter from Wu Blockchain, which revealed that meme coin FLOKI was featured as a partner on a billboard during the singles finals of the 2023 World Table Tennis Championships broadcasted on Chinese state TV station CCTV-5. Neuner found this development “quite weird.”In response to the exposure, FLOKI witnessed a surge of over 10% in its price. At present, FLOKI is priced at $0.0000335.The post Bitcoin Surges After Hong Kong’s Retail Trading Launch: Crypto Analysts appeared first on Coin Edition.See original on CoinEdition More

On May 28, the Indonesian government affirmed that tourists using crypto for payments “will be dealt with firmly.” They could be subject to punishments such as deportation, criminal penalties and administrative sanctions. In addition, businesses caught accepting crypto could also be punished and forced to close operations. Continue Reading on Coin Telegraph More

On May 29, the exchange announced its pre-approval from Kazakhstan’s Astana Financial Services Authority (AFSA) to operate as a digital asset trading facility and custody services provider at the Astana International Financial Centre (AIFC).Continue Reading on Coin Telegraph More

The largest cryptocurrency, still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows.Continue Reading on Coin Telegraph More

On May 28, the cryptocurrency Floki (FLOKI) experienced a surge of over 10% and witnessed its highest levels of trading activity in more than three weeks. Traders showed interest in the tokens due to a China-centric initiative promoting its Valhalla metaverse game.The trading volumes for the Shiba Inu-inspired tokens surged to over $60 million, a significant increase from the previous week’s average of $25 million. This sudden spike coincided with the inclusion of advertisements for the Floki game in various Chinese sporting tournaments. This development potentially enticed speculators who speculated that the promotional efforts could attract a fresh wave of traders from China.The developers of Floki mentioned in a tweet that they observed a notable increase in the number of community members from China joining their social media groups.On February 7, Floki announced its strategic focus on China as part of its recent efforts to attract a larger user base for its Valhalla game. Developers emphasized that the game’s content and technical documentation would be made accessible in both traditional Chinese and simplified Chinese, with a specific aim to cater to the Chinese gaming market.In recent weeks, the “China narrative” has gained traction among certain individuals on Crypto Twitter, particularly due to the anticipation of relaxed regulations for retail trading in Hong Kong. This trend has resulted in price increases for certain tokens with a focus on Asia, including conflux (CFX).Starting June 1, Hong Kong will allow regulated trading of certain tokens like Bitcoin, Ether, and Solana. Traders cannot hold stablecoins, but this move has sparked speculation about wealthy Chinese investors entering the crypto markets. Floki’s core developer 100bviking shared,They believe China’s growing economy will positively impact the crypto sector, especially with Hong Kong’s crypto legalization. There is anticipation that China could drive the next crypto bull run.The post ‘We’ve Gotten An Influx Of Chinese Traffic Today’: Floki Grows 10% appeared first on Coin Edition.See original on CoinEdition More

In the past 12 months, Circle’s USD Coin (USDC) has seen its market share decline from 34.88% to 23.05% at the time of writing. Market participation of Binance USD (BUSD) plunged from 11.68% to 4.18% in the same period, while Dai (DAI) held its participation rate at 3.66%, down from 4.05% in May 2022.Continue Reading on Coin Telegraph More

In an episode of Cointelegraph’s Crypto Stories, Cheds shared his humble beginnings. According to the technical analyst, he always dreamed about trading stocks since he was a kid. He said: Continue Reading on Coin Telegraph More