🐸New ‘Pepe the Frog’ Crypto Token Becomes Sixth Largest Meme Coin by Market Cap

🟠A new token named after Pepe the Frog, the infamous meme, and cartoon character created by Matt Furie, has entered the meme coin economy.

⚡️The token is called Pepe (PEPE), and at the time of writing, it has become the sixth-largest meme coin asset in terms of market capitalization, valued at just over $130 million.

However, amidst the fast rise, both the website coinmarketcap and the Web3 security startup Gopluslabs have warned that the contract owner may have the ability to modify the transaction tax and blacklist function.

🇺🇦Ukraine to Adopt Europe’s Crypto Rules, Clarifies Taxation

💫Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions.

A regional leader in crypto adoption, Ukraine now plans to follow in the footsteps of the global leader in crypto regulation, the European Union.

On Thursday, European lawmakers gave their final approval to the Markets in Crypto Assets package.

💁‍♀️“This is a truly historic event, I am sure Ukraine will be one of the first countries to implement this regulation into national legislation,” commented Yuriy Boyko.

🏓ECB’s Panetta Reinforces Digital Euro Focus on Payments

🚛Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.

Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project was reaching its final stages of research, and stated that one of the first goals of the project is to establish it as a universal payment method.

Panetta stated:

🗣️We have been investigating the technical solutions that would enable people to easily make payments in digital euro, anywhere in the euro area.

Furthermore, he declared that the digital euro could be given legal tender status by legislators, making all merchants capable of accepting digital payments obliged to accept it.

Panetta also talked about the ideal requirements that the digital euro should fulfill if launched, stating:

🗣️People should be able to pay and be paid in digital euro anywhere in the euro area, no matter which intermediary they are using to access the digital euro or which country they are in.

🇦🇷Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling Dollar Reserves

➡️The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow the country to safeguard its dwindling dollar reserves, involves the disbursement of more than $1 billion in April.

China is currently Argentina’s international partner, and this move will ostensibly allow the country to lessen the weight of imports on the weakened state of Argentine reserves.

The Chinese concession given to Argentina by Chinese President Xi Jinping allows the central bank to focus its attention on the devaluation and inflation spiral Argentina is currently experiencing by injecting resources to stabilize its fiat exchange rate, which reached record lows last week against the U.S. dollar.

🔽Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision

➡️Bitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision. The Fed is expected to increase rates by 0.25%, despite the U.S. economy slowing down. Ethereum also remained lower, moving close to a breakout below $1,800.

🟢Bitcoin (BTC) dropped below $28,000 on Tuesday, as markets prepared for the upcoming Federal Open Market Committee (FOMC) decision.

🟢BTC/USD slipped to an intraday low of $27,680.79 earlier in today’s session, which came less than 24 hours after trading at a high of $28,626.28.

🟢As a result of this move, bitcoin nearly collided with its recent price floor at $27,600, hitting a six-day low in the process.

🟢Looking at the chart, the latest decline comes as the relative strength index (RSI) moved below a floor of its own at 50.00.

🟢At the time of writing, the index is tracking at 46.17, with the next visible point of support at 43.00.

🟢Bitcoin has since moved back above $28,000, and is currently trading at $28,176.91.

🟢Ethereum (ETH) was also lower in today’s session, with prices also falling to a key level of support.

🟢Following a high of $1,851.19 to start the week, ETH/USD plunged to a bottom at $1,809.19 earlier in the day.

🟢Today’s drop saw the world’s second largest cryptocurrency move below its long-term price floor at $1,830.

🟢ETH has since rebounded from this floor, as sentiment remained relatively stable, despite the earlier decline.

🟢This happened despite the RSI trading under a support point of its own at 45.00, with a current reading of 44.30.

🟢There could be more moves on Wednesday following the Fed decision, with a potential move above $1,900 still on the cards.

🔼Stronghold Digital Partners With Canadian Subsidiary to Boost Bitcoin Mining Capacity by 400 PH/s

➡️Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total hashrate capacity of 400 petahash per second (PH/s) by the end of June.

On May 4, 2023, Stronghold Digital Mining, Inc. (Nasdaq: SDIG) announced a two-year hosting deal with Cantaloupe Digital, a subsidiary of Canaan, the manufacturer of Avalon-made ASICs. Starting May 15, Stronghold Digital will install Avalon A1246 mining rigs, each with 90 terahash per second (TH/s) of hashpower.

According to the announcement, the company plans to install 2,000 Avalon A1346 miners in June. Each A1346 miner is expected to have a hashpower of 110 TH/s. Once all the miners are installed, Stronghold anticipates that its delivered hashrate capacity will increase to 3.6 exahash per second (EH/s) by June. This move puts Stronghold in line with other mining companies that are also expanding their fleets in 2023 with additional ASIC rigs.

♾“While we have emphasized our necessary deleveraging efforts over the last ten months, we think that the most meaningful measure of our work is the capital efficiency of our mining fleet today,” Greg Beard, chairman and chief executive officer of Stronghold.

📌Meanwhile, bitcoin miners have had a more successful year in 2023 compared to 2022. The price of bitcoin (BTC) has been higher this year, and despite five consecutive difficulty increases, miners experienced a 1.45% decrease on Thursday.

🔽Bitcoin, Ethereum Technical Analysis: BTC Extends Declines, as Markets Continue to React to Nonfarm Payrolls

Bitcoin fell below $28,000 to start the week, as markets continued to react to last Friday’s United States nonfarm payrolls (NFP) report. The payrolls report came in at 250,000 versus expectations of 180,000 jobs. Ethereum was also lower, as prices fell back below $1,900.

👍 Bitcoin (BTC) moved lower to start the week, as cryptocurrency markets continued to react to the latest nonfarm payrolls report.

🔼The number of jobs added to the U.S. economy came in higher than expected, in many’s eyes justifying the Federal Reserve’s decision to hike interest rates by 0.25%.

As a result, BTC/USD fell to an intraday low of $27,691.26 earlier in today’s session, following a peak of $29,119.38 the day prior.

Bitcoin chart by TradingView

🟢Overall, BTC has now fallen for a third straight session, with this latest drop sending prices to a one-week low.

🟢One of the catalysts for the decline was a breakout which took place on the relative strength index (RSI), which fell below a floor at 47.00.

🟢At the time of writing, the index is tracking at 44.32, with a floor of 42.00 a potential target for bears.

🟢In addition to BTC, ethereum (ETH) was also in the red on Monday, with prices plunging below $1,900.

Following a high of $1,934.00 on Sunday, ETH/USD dropped by almost $100, hitting a low of $1,839.89 earlier in the day.

🟢Similar to bitcoin, today’s decline saw the world’s second largest cryptocurrency fall for its third consecutive day.

Ethereum chart by TradingView

🟢From the chart, it appears that ethereum bears are now attempting to take the RSI to its own point of support at 45.00.

🟢Currently, the index is at the 47.02 level, having recently moved below a higher support point at 49.00.

🟢Should price strength hit the target of 45.00, there is a possibility that ETH will be trading under $1,800.

🔥Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

🟢Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted.

🟢The State Duma, the lower house of the Russian parliament, plans to adopt four crypto-related laws during its spring session which ends on July 30, according to Anatoly Aksakov, chairman of the parliamentary Financial Market Committee.

🟢The bills are tailored to regulate cryptocurrency mining, cross-border crypto payments, taxation of digital assets, and liability for their illegal use, the lawmaker detailed, quoted by the Interfax news agency. He emphasized that the draft laws are well thought through.

🟢Aksakov remarked that large Russian companies are already actively using cryptocurrency in foreign trade settlements, but they want to see legislation outlining the legal framework for such transactions. Speaking at the St. Petersburg International Legal Forum, he stated:

🟢Now we have come to the point where four bills are in the stage of practical adoption … It is quite possible that we will adopt all the laws in the spring session.

🟢Anatoly Aksakov also said that the authorities want to take into account the opinions of market participants regarding tax rules. “Most likely, the norms applicable to DFAs will be taken into account as much as possible here, since this is a similar instrument,” he elaborated.

🟢The law “On Digital Financial Assets” (DFAs), which went into force in January 2021, covers only some crypto-related activities, in particular those that involve digital assets with an issuing entity, like tokenized traditional assets or utility tokens, for example.

🔼Tencent Q1 2023 Earnings Statement Rides High on Increased Payment Volumes, Ad Sales, Gaming

Chinese tech giant Tencent saw its Q1 2023 revenue jump 11% YoY to $21.4 billion amid relaxed industrial regulations.

Tencent Holdings posted its Q1 2023 results, reflecting the company’s fastest jump in quarterly revenue in over a year.

📌For Q1 2023, Tencent posted an 11% year-over-year revenue jump to 150 billion Chinese yuan ($21.4 billion) compared to analysts’ expectations of 146.09 billion yuan. The Shenzhen-based tech and entertainment conglomerate attributed the income increase to a boost in payment volumes, ad sales, and gaming.

Tencent’s Q1 tech success is a far cry from late 2020 when the Chinese government imposed stricter regulations on the tech industry.

🟢In 2021, Chinese regulators suspended new video game releases and imposed strict measures on usage among young children. However, in the last few months, Beijing has softened its stance on the industry and approved more titles for release.

Many expect artificial intelligence to command a decent amount of attention at Tencent’s upcoming earnings call.

In its earnings statement, Tencent explained it was investing in artificial intelligence capabilities and cloud infrastructure to meet posed opportunities. The company added that AI “[could] be a growth multiplier that enables us to better serve our users, customers, and society at large”.

🔥DeeLance - A Blockchain Ecosystem Where the World Works Together Smartly 🔥

Web3-based DeeLance is redefining how freelancers connect with potential employers and buyers of their work.

👑It intends to build a new freelance economy that removes intermediaries, gives freelancers full ownership of their work, and ensures the ownership of purchased digital work for buyers

DeeLance’s decentralized platform entails micro-communities in a metaverse where buyers and sellers of creative works can meet, discuss ideas, network, and form bonds, and an NFT marketplace, where they can transact.

🔥Biggest Movers: XRP Bulls Take Profits Following 6-Day Winning Streak

XRP was marginally lower on Saturday, as bulls seemingly secured gains, following a recent six-day winning streak. The token, which has risen by nearly 10% in the past week, remains close to a three-week high. Polkadot remained in the green to start the weekend.

➖XRP, formerly ripple, remained close to a multi-week high to start the weekend, despite bulls moving to secure recent gains.

➖Following a peak at $0.4738 on Friday, XRP/USD declined to a bottom at $0.4627 earlier in the day.

➖Despite the decline, XRP remained close to its strongest point since April 30, when the price reached a top of $0.4818.

➖Looking at the chart, one of the catalysts of the move appeared to be a breakout on the relative strength index (RSI).

➖The index moved beyond the ceiling of 54.00, and as of writing, is now tracking at 56.09.

➖Bulls are likely targeting the $0.4800 mark, and could reach it this weekend, should the RSI move towards its next point of resistance at 59.00.

➖In addition to XRP, Polkadot (DOT) extended its own gains on Saturday, as the token rose for a second straight session.

➖DOT/USD climbed to a high of $5.41 to start the weekend, following a low at $5.33 the day prior.

➖Saturday’s move comes as polkadot continued to move away from a recent support point at $5.30.

➖The slight increase in price has also led to the RSI moving towards resistance at 42.00, which is acting as an obstacle to further bullish pressure.

➖There is a good chance that DOT could make a run towards $6.00, should this current ceiling give way.

🔥Bitcoin, Ethereum Technical Analysis: Dollar Weakness Pushes BTC Higher, as Biden Fails to Secure Debt Deal

🔴Bitcoin rebounded on Tuesday, as a result of weakness in the U.S. dollar, following failed talks to tackle the debt ceiling crisis. President Biden stated, “We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement.”

🟢Bitcoin (BTC) rose above $27,000 on Tuesday, as a result of weakness in the greenback, following failed talks to increase the U.S. debt ceiling.

🟢After dropping to a low of $26,714.18 to start the week, BTC/USD surged to a peak of $27,434.68 earlier today.

🟢Tuesday’s gains saw bitcoin marginally break out of a resistance level at the $27,300 mark.

🟢This coincided with the relative strength index (RSI) climbing above a ceiling of its own, at 44.00.

🟢At the time of writing, the index is now tracking at 47.10, with an upcoming zone of 50.00 a likely target for bulls.

🟢Should they reach this point, there is a reasonable chance that bitcoin will trade above $27,600.

🟢Ethereum (ETH) also surged higher in today’s session, as prices continued to move away from a key level of support.

🟢ETH/USD hit an intraday high of $1,869.34 on Monday, 24 hours removed from trading at a bottom of $1,809.54.

🟢The move came as the world’s second largest cryptocurrency bounced away from a recent floor at $1,790.

🟢Looking at the chart, today’s surge comes following a slight breakout of a ceiling on the RSI at the 50.00 mark.

🟢As of writing, price strength is now tracking at 51.97, with the next visible level of resistance at 55.00.

🪙Mine Bitcoin with your phone!

You think it's impossible?

Mine bitcoin with your phone, on your way to work or even from the comfort of your own home.

🔥Liquid is the world's first cloud mining app available on AppStore and GooglePlay.

Now you don't have to take out a loan to buy the equipment, stay up 24/7 while setting it up, and dread opening your electric bill.
These guys take care of all those issues. All you have to do is look at the X's in your wallet.

⏺Stop by and start mining without any headaches!

Channel | IOS app | Android app | Website

✨Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months

🔼Citigroup analysts foresee a significant increase in silver’s value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank’s latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease in the federal funds rate at some point.

On Thursday, May 25, 2023, the price of silver per ounce lingers just above the $23 mark after experiencing nearly a 4% decline over the past week. Nevertheless, half-year data reveals that silver has 🔼 risen 6% against the U.S. dollar.

🔵We think recent price weakness offers a strong dip-buying opportunity, reiterating our call for $30/oz silver over the next 6-12 months as U.S. growth rolls over, even if emerging markets growth stagnates, - stated Citi’s market strategists.

👉The financial specialists at Citi are not alone in their optimism toward precious metals.

In Citi’s most recent report on silver, their analysts declared that “silver would rally in anticipation of the fall in U.S. interest rates and real yields that will likely accompany an anticipated rollover in U.S. growth.”

📔Currently at just above $23 per ounce, silver will need more than a 30% boost to reach Citi’s projected price target.

❕Latam Insights — Venezuelan Gold Battle Continues, Argentina Seeks Yuan Funding Extension

🟢Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic development news during the last week. In this issue, Venezuela tries to regain control of the gold stash held in London again; Argentina seeks to expand the Chinese yuan swap line; and Azteco enables bitcoin purchases in more than 55,000 stores in Colombia and Costa Rica.

➡️The Venezuelan government has introduced a new appeal to try and regain control of the Venezuelan gold held in the vaults of the Bank of England.

❕According to the appeal presented before the London Court of Appeals by the party representing the Central Bank of Venezuela board controlled by President Nicolas Maduro, the disbandment of the interim government of Juan Guaido on January 2022 changes the case’s background.

➡️The government of Argentina will seek an extension of the available amount of a swap line established by the Chinese government to continue financing its imports.

🔔 Lula Proposes to Revitalize South America Union USAN; Reinforces Need of Shifting Away From US Dollar

➡️ Luiz Inacio “Lula” Da Silva, President of Brazil, remarked on the need to retake South American integration mechanisms through the Union of South American Nations (USAN). ❎Lula also proposed to shift away from the U.S. dollar by using a standard reference currency for bilateral settlements among countries in the region.

While giving the opening speech of a summit with the presence of 11 presidents of South America, 👍Lula stated that the region should rebuild its integration method to face the hurdles of the ongoing globalization process.

🔩 Lula reinforced the need for integration in South America, explaining that “No country can face today’s systemic threats alone.” “Only by acting together can we overcome them,” Lula concluded.

🦌 Lula also proposed USAN implement currencies different from the U.S. dollar in settling bilateral payments in the region and rescuing naive credit mechanisms to avoid relying on international financial institutions like the International Monetary Fund (IMF).