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Topics - CryptoTalisman

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Crypto Exchanges / Crypto Exchange Ethics: BingX defiles US and DOJ standing order.

« on: April 13, 2024, 02:24:53 PM »

Source: https://cointelegraph.com/news/bingx-exchange-iran-sanctions-evasion

The crypto industry has evolved and witnessed massive growth in the last decade. Centralized exchanges have played a very significant role in this journey but if care is not taken, the growth of the industry might be hindered if some exchanges won't follow the rules of engagement.

We all know how the crypto market has been a place for dirty money in the past prompting the need for KYC, AML and terrorists financing act by the security and exchange commission (SEC) but it's quite disheartening to wake up to news that BingX, a notable crypto exchange is still providing crypto service to Iranian despite US sanction not to allow the region have access to crypto due to varying factors like terrorist financing and purchase of weapon and firearms via crypto payment.

No doubt there is a lot of money in Iran and many exchanges will want to take advantage of the fertile ground but considering the risk, I think BingX management didn't think well to approve such dealing and the worst case scenario is allowing users withdraw staggering amount of money without KYC verification.

Looking at the gravity of the offense committed, am damn sure that the DOJ and SEC would definitely need and explanation from the exchange which obviously won't be palatable. Users are already in panic and many withdrawing their funds. Do you think this issue is capable of bringing the exchange down? Share your thought.

Cryptocurrency discussions / Should crypto exchanges be audited quarterly?

« on: April 11, 2024, 09:12:38 PM »

I don't know if my thought is 100% right but I think if exchanges give accounts of their activities and progress made on a quarterly basis, it will further consolidate the trust users have in the exchange and give users the direction the exchange is headed either positively or negatively.

We could see in the traditional sector like banks where auditing are done on a quarterly basis to know their gains and how to better strategize for incoming quarters should there be any loses or things to worry about.

The collapse of FTX wasn't as a result of a single dealing but continuous spending without having a proper documentation of what the exchange truly worth.

Personally, I think auditing a CEX on a quarterly basis will help users make informed decision of whether to continue using a particular CEX or find a better alternatives. I will like your thought on this subject matter.

Meme Coins / Memecoins with funny names.

« on: April 06, 2024, 08:59:22 AM »

There are some crypto names one would hear and just burst into laughter. I have seen a lot of them but there is one I came across today while searching for trending tokens on Coingecko called MUMU. You need to know what this means in my country: it literally means a complete idiot.

But to my surprise, this token has been performing well and listed on some top exchanges. Based on Solana ecosystem, the project seems to be gaining more relevance as the mcap and trading volume has surged exponentially in the last 2 weeks. For me personally, the name discouraged me from buying it even though it has obvious potential to be the next BONK looking at the community support and the social sentiment surrounding it on various social media space but am curious and want to know if you will buy a crypto whose name have a negative fundamental to your believe?

Cryptocurrency discussions / Which of your holdings has done 100% since beginning of 2024?

« on: March 28, 2024, 10:34:00 PM »

80% of people in the crypto space and the newbies joining the space are focused on accumulating BTC and other popular altcoins like ETH, SOL, XRP and a host of others. I have been doing same for quite some times also but I recently discovered one can make a duffle big bag of money without holding any of this coins.

If you have been paying attention to the market, you will observe both BTC and ETH haven't done 100% of their prices since the start of 2024 whereas there are crypto projects that have surge exponentially as far as 400% and more. Am not talking of memecoins.

Just today, I was reading an article about ONDO and ZEEBU, while ONDO is a tokenized RWA, ZBU is a loyalty token designed to facilitate seamless global transaction and incentive users for successful settlement . Both tokens have surged exponentially over the last couple of months.

I agree that nothing compares to holding BTC as against any other altcoins but utility of some certain tokens like the two listed above is fast growing and adoption is on the rise with both token enjoying over a billion mcap from there little beginnings indicating a high demand for the project.

I have a feeling unpopular crypto projects are going to be the highest gainer of this bullrun but positioning for the right ones poses a great challenge. What are your thoughts?

Airdrops requiring wallets installation / Connection / Satoshi App announces BWB airdrop.

« on: March 24, 2024, 01:25:10 PM »

Satoshi app mission of becoming the number one airdrop platform is getting stronger by the day. Currently the OEX mainnet is approaching by next month and the platform has also announced its plans to Airdrop Bitget wallet native token BWB starting from 25th of March 2024 by 6:00 (UTC) to 30th April 2024 with a maximum of 22,000 participant.

The exchange had earlier began the Airdrop from 18th March 2024 to April 28th 2024 https://web3.bitget.com/en/bwb-airdrop

Looking at the performance of BGB since launch, BWB is another opportunity to tap into the exchange growing ecosystem. More info is available on the Satoshi App platform.

Meme Coins / Memecoins over BTC; Don't tell me i'm crazy

« on: March 22, 2024, 02:48:19 PM »

I know many of you will want to come for my head but relax and take a chill pill. How many of you here since 2017 has made 7× ROI on BTC? Try to be honest. I know there are lots of rugpulls in memecoins world but just one can set you up. I invested $10 in a memecoin in 2019 that gave me $500 in 2021, imagine if I had invested $100.

I know memecoin has no utility and the rest of the story you want to tell me but what I care about is the money. Just recently after Solana Memecoins started trending and dominating the memecoin ecosystem, I took advantage to invest in some like BOME, IQ50 and SLERF and it was a banger. The best I have seen in several months and that has given me more confidence to go for memecoins over BTC anyday anytime kudos to Bitget for always coming through with a fresh project with great potential.

Which of the Solana trending memecoin has given you decent amount of ROI lately? Let's discuss here.

Meme Coins / What does your IQ says about you?

« on: March 18, 2024, 10:59:35 AM »

What does your IQ says about you?

I just came across a memecoin project talking about IQ. The bone of contention is that those that think moderately have higher chances of success than those that thinks too hard.

It's been all talks about Solana Memecoin in the last couple of weeks after $BOME had an incredible launch but seems attention has switched to $SNAP and IQ50.

$SNAP had a wonderful presale raising over 50k SOL and current holders exceeds 54k while on the other side IQ50 had no presale, no team and token strictly governed by community members, I have a feeling this gems could be centre of attraction in the memecoin ecosystem in coming days or weeks especially now that some top exchanges have already announced its listing.

Are you bullish on any of these two projects? Share your thoughts

Meme Coins / Gecko Inu: Emerging narrative from AVAX.

« on: March 15, 2024, 03:25:12 PM »

Over the years, Ethereum memecoins has always taken the lead. In recent times, projects built on Solana has also seen significant success rate.

Although there are quite a few memecoin on AVAX chain but with no much to talk about hence the reason most people prefer memecoin on either Ethereum or Solana but seems there is a token poised to change the narrative.

Gecko Inu has been the talk of memecoin enthusiasts over the last couple of days and their has been significant inflow of cash in the project. With a current mcap slightly above $16M, the 24hrs trading volume has surged by nearly 1000% compared to the past 30 days solidifying investors interest in the project.

With over 9349 token holders already, 95% liquidity, 5% Airdrop to the community and a built-in burn strategy, buyback, staking initiative, the project seems a good prospect especially now that it's already getting the attention of top CEX to list it.

Do you think GEC can change the narrative in the AVAX ecosystem and compete with other projects on both Ethereum and Solana?

Meme Coins / Ethereum or Solana Memecoin? Which has more potential?

« on: March 12, 2024, 03:35:38 PM »

No doubt memecoin has been among the major talking about since the turn of the year after recording massive cash inflow and mcap of top memecoins surpassing some popular altcoins. PEPE on Ethereum and BONK on Solana and several others has been gaining massively.

As the bullrun approaches, a lot of low cap memecoin could surface from no where to steal the show just like SHIB did few years back.

Most of this popular memecoin has done 5× to 8× in the last one month hence I feel it's a little bit late investing in them even though they still have significant potential. So I want to ask, which memecoin are you guys watching out for?