Bithumb is preparing for an IPO on Nasdaq US in 2025


Bithumb, a Korean cryptocurrency exchange, is attempting the industry’s first initial public offering (IPO). To regain market dominance from Upbit, which is about 85%, and regain the leading position in the market, increasing trust in the company is the most important thing.

On November 12, Bithumb Korea, the operator of Bithumb, said it selected Samsung Securities as the underwriter late last month and began working on the IPO. The target listing date is set for the second half of 2025. First of all, the focus is on listing on KOSDAQ (Korean Securities Dealers Automated Quotations), but it is known that in some cases, there is still a possibility of changing the destination into KOSPI (Korea Composite Stock Price Index).

Bithumb declined to comment on IPO plans but said:

“It is true that we have chosen an underwriter.”

Through this IPO, Bithumb Korea appears to be looking to increase market confidence in its trading operations by improving transparency in governance and management while also receiving external verification of its trading system. its internal control system. This is because the context behind the IPO seems far removed from the fundraising intent. According to Bithumb Korea’s semi-annual report this year, the company holds financial product assets worth more than 400 billion won (~ 7,370,262,884,000 VND). In fact, it will be difficult to regain the market leadership lost to Upbit if confidence cannot increase.

It seems that work on improving the corporate structure has begun following the IPO push. According to an official familiar with Bithumb’s situation, Lee Jeong-hoon, former chairman of the board of directors of Bithumb Korea and Bithumb Holdings, has returned to the Bithumb Holdings board. As former Chairman Lee was appointed as a representative director, Lee Sang-jun, CEO of Bithumb Holdings, who was suspected of soliciting coin listings, was removed from the board. The position of CEO of Bithumb Holdings will be held concurrently by Jaewon Lee, CEO of Bithumb Korea, who is trusted by former Chairman Lee. For the IPO to be successful, former Chairman Lee is expected to strengthen control and begin internal consolidation.

Source:
https://tradecoind2.com/bithumb-is-preparing-for-an-ipo-on-nasdaq-us-in-2025/

Top 3 Cryptocurrencies Under $0.10 Potential for Next Week

The cryptocurrency market is currently experiencing a significant spike, attracting the attention of investors. While cryptocurrencies like Bitcoin and ETH still stand out with notable achievements, there is growing interest in more affordable alternatives.

For investors with a higher risk tolerance, allocating a portion of their investment capital, between 10% and 20%, to these altcoins can provide attractive opportunities to diversify their portfolio. investment portfolio and earn significant profits in the upcoming bull market. The article will review 3 cryptocurrencies priced under $0.10 to consider.

Shiba Inu (SHIB)

SHIB is a meme-inspired cryptocurrency introduced in August 2020, using the Shiba Inu dog breed as its mascot.

Created by an anonymous entity called “Ryoshi,” SHIB operates on the Ethereum blockchain and bills itself as an experiment in decentralized community building.

With a total supply of 1 quadrillion tokens, a significant portion of which is locked in decentralized exchanges, SHIB aims to establish a decentralized ecosystem with community participation in its development. and promote.

ShibaSwap, a decentralized exchange affiliated with SHIB, provides a platform for trading this token and other decentralized finance functions. The project also introduced two other tokens, Leash and Bone, each playing a distinct role in the Shiba Inu ecosystem.

However, it is important for potential investors to approach SHIB with caution due to its speculative nature and the inherent risks associated with memecoins in the cryptocurrency market.

The Shiba Inu is generally in a bullish trend, currently slightly down trading at $0.00000903, reflecting a decline of 4.69% over the past 24 hours.

Despite this, the cryptocurrency achieved an overall growth of 9.53% for the week. Sustained buying momentum and a strong 61.01% increase in trading volume to $282,688,671 indicate a solid foundation for Shiba Inu’s ambitious targets, with the potential to shave off yet another zero in the near future.

PEPE
PEPE has quickly grown in popularity as a memecoin operating on the Ethereum blockchain since its public launch in April 2023.

In a remarkable feat, PEPE achieved a market capitalization exceeding $1 billion in just 3 weeks, a milestone that took DOGE nearly 4 years to achieve. Despite wild price fluctuations, PEPE has attracted a significant and growing community of individual holders.

The original design included a deflation mechanism, burning a small percentage of tokens with each transaction to create scarcity and potentially increase the value of remaining tokens over time.

Pepe Coin implemented a redistribution system at launch, ensuring a portion of every transaction goes to existing token holders.

This mechanism aims to promote user participation and encourage long-term investment. Despite subsequent changes to the project, the status of the redistribution system remains unclear.

Investors should stay informed about such developments and exercise due diligence when considering participating in projects such as PEPE.

PEPE operates with a maximum token supply of 420,690,000,000, of which 93.1% is initially placed in a liquidity pool and the remaining 6.9% is allocated to a multi-signature wallet for future purposes. hybrid.

With memecoin growing in popularity in recent years, Pepe has gained attention. After a 1.3% increase, it trades at $0.0000012 at the time of writing.

The coin’s trading volume increased 163.39% to $396.37 million, accompanied by a 0.37% increase in market capitalization to $556.38 million.

With the eye on another bull run in early 2024, Pepe Coin could serve as a strategic investment for those expecting potential new highs.

Kaspa (KAS)
Kaspa (KAS) is a growing cryptocurrency claimed to be the fastest, open source, decentralized and fully scalable layer 1 in the world.

Touted as the world’s first blockDAG (Directed Acyclic Graph), Kaspa uses a digital ledger that facilitates parallel blocks and instant transaction confirmations.

This innovative blockchain is built on a powerful PoW engine with extremely fast one-second block times.

Key features of Kaspa include a fair launch without the need for a pre-mine or any pre-allocation, emphasizing community-driven development similar to coins such as Bitcoin, Litecoin or Monero.

Launched on November 7, 2021, Kaspa operates on the kHeavyHash hash algorithm, uses a Proof of Work consensus mechanism and a unique BlockDAG structure.

Supporting multiple platforms such as Windows, OSX, Linux and Raspberry Pi, it has an impressive one-second block time. With a circulating supply of 21.49 billion KAS and a maximum supply of approximately 28.7 billion KAS, Kaspa’s market capitalization stands at $1.9 billion.

Kaspa implements the GHOSTDAG protocol, which differentiates itself from traditional blockchains by allowing parallel blocks to coexist and be ordered by consensus, preventing orphaned blocks.

The Kaspa implementation includes various features and sub-protocols, such as Reachability for querying DAG topology, block data truncation, SPV proofs, and upcoming subnet support, facilitate the deployment of layer 2 solutions in the future. The project’s commitment to innovation and community-driven ethos have established Kaspa as a pioneering force in the cryptocurrency space.

KASPA has recently attracted investors looking for cost-saving opportunities, achieving notable growth of over 2094% last year.

Notably, it is up 75% in the last week, although currently KASPA is trading at $0.08932 with a slight daily gain of 0.53%.

A notable indicator of its growing prominence is the jump in trading volume, reaching $114,934,098.78 in the past 24 hours — a significant 121.5% increase from the previous day. This increase indicates increased market activity and growing confidence in the project.

Source:
https://tradecoind2.com/top-3-cryptocurrencies-under-0-10-potential-for-next-week/

Bitcoin antifan Nouriel Roubini launches own token – Changpeng Zhao sarcastically “shameless”

For years, economist Nouriel Roubini has been one of the most outspoken critics of cryptocurrencies. He called Bitcoin a “shitcoin,” mocked Ethereum as a worthless currency, and even dismissed blockchain technology as a whole as “no better than a spreadsheet.”

Now, in a coup as old as time, Roubini is launching his own cryptocurrency. Hearing this news, Binance co-founder and CEO Changpeng Zhao scoffed.

“Some people are shameless.”

Zhao, the richest person in the crypto world, seems to be not only disgruntled about Roubini’s change in stance towards cryptocurrencies in general but also towards his comments regarding Binance in particular.

Late last year, right after the collapse of FTX, Roubini – who always had a bad opinion of financial markets and was often called “Dr Doom” – repeatedly criticized Zhao at a live event in Abu Dhabi, labeled the crypto entrepreneur a “walking time bomb.” Roubini said at the time:

“There are seven Cs in cryptocurrency: Concealed, corrupt, crook, criminal, charlatan, carnival barker. and finally CZ”.

Just a few months later, Roubini’s new crypto venture, Atlas Capital, touted the experience of one of its leadership team members at Binance as proof of the new company’s bona fides.

“After publicly lashing out at Binance on stage a year ago, Roubini is now issuing tokens and placing the Binance logo on their website without permission,” Zhao fumed on Twitter, before adding a clown emoji , shrugged and smiled.

Since Zhao first posted this tweet, Atlas Capital has removed the logos of all external companies from its “Team” page, including Binance.

However, the company’s website still claims the company benefits from the “deep experience” of former Binance employees, including Senior Vice President of Product Mayur Kamat, who previously served as Director of Binance. Global product manager under Zhao at Binance.

Source:
https://tradecoind2.com/bitcoin-antifan-nouriel-roubini-launches-own-token-changpeng-zhao-sarcastically-shameless/

India busts $300 million crypto scam: 8 new arrests, 1,000 police involved

In the ongoing investigation into a  $300 million cryptocurrency scam in India, local authorities have made eight new arrests, further exposing the fraud network that ensnared an estimated 100,000 victims. core. The ongoing scandal has sent shockwaves across the country, as it now involves not only the alleged fraudsters but also law enforcement officials.

https://twitter.com/azcoinnews/status/1721724487106998783
 

The complex scam, centered on Himachal Pradesh, was discovered in late September, with authorities suspecting it may have started as early as 2018. Fraudsters lured victims potential with the opportunity to invest in a local cryptocurrency called Korvio Coin (KRO coin). There are a number of other cryptocurrencies that have been used through scam websites, with at least one case of “rug pulling” where a cryptocurrency project was canceled after investors had purchased token.

What is especially surprising in this case is the involvement of police officers, including four recently arrested officers. According to the findings of the Special Investigation Team (SIT), victims of this scheme included 5,000 government officials and about 1,000 police officers.

The apparent legality of this scam was bolstered by police involvement. More than 1,000 police officers were caught up in this conspiracy; some were cheated, while others profited significantly. What is amazing is that some people even volunteer and become promoters of scam cryptocurrencies, which further complicates the problem.

The scam in Himachal Pradesh was investigated for more than two years, during which time around 56 complaints were lodged with the local police station. The investigation was extended to multiple agencies, including the Enforcement Directorate, in coordination with regional police teams. The extensive investigation, led by the SIT, was intensified with dozens of searches conducted in late October, leading to the discovery of some 250,000 identification cards linked to the suspects.

The seriousness of this fraud is clearly demonstrated by the significant profits obtained by those involved. Investigations uncovered more than 100 individuals who allegedly profited $240,000 each from the scheme, while another 200 people allegedly made about $120,000 each.

While a total of 18 arrests have been made so far, the alleged mastermind, Subhash Sharma, is yet to be arrested. Authorities have identified and confiscated several assets linked to Sharma as part of an ongoing effort to hold the villain accountable to justice.

The unraveling of this $300 million cryptocurrency scam has revealed the deep complexity of the case, with its far-reaching impact on government officials, law enforcement officers, and countless victims.

Source:
https://tradecoind2.com/india-busts-300-million-crypto-scam-8-new-arrests-1000-police-involved/

Bitcoin fees skyrocketed nearly 1,000% since August

Bitcoin fees have surged to their highest level since last May’s meme coin craze amid the rise of Bitcoin-linked NFT, Ordinals.

At $6.84 on Wednesday, average transaction fees when using the Bitcoin blockchain are now up about 970% from August’s low of $0.64, BitInfoCharts data shows.

Digital asset management firm 21Shares pointed out in a report Wednesday that the increase was driven by increased Ordinal minting, with nearly 1.9 million inscriptions uploaded to the blockchain in two weeks. via.

As Bitcoin Magazine reported, Bitcoin became the leading blockchain by NFT sales volume (excluding wash trading) over the past 24 hours, surpassing Ethereum.

Ordinals – a protocol that allows users to store NFTs on Bitcoin – saw demand spike this spring during the short-lived meme coin craze and pushed fees to a nearly 2-year high . Binance, the world’s largest cryptocurrency exchange, listed Ordinals’ ORDI token earlier this week and its price nearly doubled before erasing some of the gains on Wednesday.

21Shares analysts said:

“While Ordinals are limited in their implementation of memecoins, they act as a form of delegation to increase demand for Bitcoin block space.”

The report points out that Ordinals’ resurgence is also helping Bitcoin miners, with blockchain transaction fees now accounting for about 8.5% of their revenue.

This is especially important for miners as the quadrennial Bitcoin halving event scheduled for April 2024 approaches, which will cut block rewards in half.

Source:
https://tradecoind2.com/bitcoin-fees-skyrocketed-nearly-1000-since-august/

Yuga Labs co-founder spends $1.5 million to revive NFT market

It appears that Wylie Aronow, co-founder of Yuga Labs, is taking it upon himself to try to revive the waning NFT market.

After teasing the idea of ​​purchasing NFTs outside of the Bored Ape Yacht Club collection created by Yuga Labs on Monday, Aronow (aka Gordon Goner) went on perhaps one of the wildest NFT spending sprees yet since the last bullrun. After starting with the purchase of a rare CryptoPunk on Monday for 600 ETH ($1.14 million), Aronow has spent a total of more than $1.5 million, according to data from The Block Research.

Purchasing more than a dozen new tokens, Aronow spread love everywhere. He selected popular collectibles outside of the Yuga Labs universe, including NFTs from Doodles, Meebits, Pudgy Penguins, and popular digital artist Beeple.

“This week I’m buying some non-BAYC NFTs. Do not worry. I’m still a little monkey and I love you very much,” he said on Monday.

In another tweet on Wednesday, he continued to inspire:

“In all seriousness, I’ve always wanted to join more communities in the Web3 space but felt I had a limited responsibility to do that while I was still at Yuga.”

While Aronow co-founded Yuga Labs and is the most famous NFT creator, he announced his retirement earlier this year citing health issues.

More motivation
The Block Research analyst Brad Kay said:

“Yuga Labs founder continues to purchase popular NFT collectibles to add momentum, volume and traders to the market, similar to what celebrities and big figures did when NFTs were at their peak to create FOMO. That’s definitely not normal. It’s not every day someone buys $1.5 million worth of NFTs across multiple collections.”

Aronow’s aggressive buying comes after the NFT market’s best month in some time. According to data from The Block Research, in October, NFT volume increased by more than 20%. But the sector continues to struggle with a downturn that has forced both Yuga Labs and marketplace giant OpenSea to lay off staff.

Source:
https://tradecoind2.com/yuga-labs-co-founder-spends-1-5-million-to-revive-nft-market/

Illuvium token (ILV) skyrocketed 22% after listing on Epic Games Store

NFT game Illuvium will be available on the Epic Games Store and the upcoming launch event appears to have brought a price jump for the Illuvium token. Indeed, after Wednesday’s announcement , ILV prices increased sharply.

Illuvium is currently listed on the Epic Games Store ahead of its Beta 3: Arena launch on November 28, focusing on player-versus-player (PVP) action. The beta will launch through the popular PC game store.

News of Illuvium entering the prominent PC gaming market that had 230 million users as of the end of 2022 appears to have had an immediate impact on the price of the Illuvium token (ILV) on Ethereum, which had previously been increasing rapidly.

ILV prices rose from around $65 before the news to a high of $80.49, adding nearly 24% in just a few hours. The price is currently stable at $78.13 at the time of writing, which still marks a 22% increase over the past 24 hours — not to mention a 103% increase over the past 30 days.

Built on the Ethereum Immutable X scaling network, Illuvium is a fantasy action game spanning multiple play styles, including open-world adventure and competitive auto-battle. The game uses various NFTs, including virtual plots of land, with one such digital land NFT sale bringing in $72 million in June 2022.

The Illuvium Overworld open-world beta in May impressed with its visual quality and fluid movement, pointing towards a blockchain game with real “AAA” rating potential. We’ll see how the game has evolved over the past few months when the latest beta launches on November 28.

The Epic Games Store has proven to be friendly to games with NFTs and tokens, with titles like Gods Unchained, Raini: The Lords of Light, and Blankos Block Party coming to the marketplace. Meanwhile, rival store Steam has rules against blockchain games, although some developers have found ways to circumvent or circumvent the rules.

Source:
https://tradecoind2.com/illuvium-token-ilv-skyrocketed-22-after-listing-on-epic-games-store/

STORJ Hits 440-Day High – Can It Rise to $1?

STORJ price broke above the $0.50 horizontal resistance area this week. It spiked to $0.64, its highest level in 440 days.

The price has yet to reach a weekly close above this zone, which would confirm a breakout. Will the price do the same?

STORJ broke out of long-term resistance

STORJ price has traded between $0.25 and $0.50 since the beginning of the year. During this time, both the resistance and support zones were validated multiple times (red and green symbols).

Most recently, STORJ bounced off its August low, creating a very long lower wick, which is considered a sign of buying pressure. This has catalyzed the ongoing price rally.

After another failed breakout attempt in October (black symbol), STORJ price finally broke out this week, reaching a high of $0.64. This is the highest price in 440 days.

The relative strength index (RSI) is a momentum indicator that traders use to evaluate whether the market is overbought or oversold to decide whether to accumulate or sell an asset. A reading above 50 and trending up shows that the bulls have the advantage, while a reading below 50 shows the opposite.

The weekly RSI is rising and above 50, both considered positive signs. Furthermore, the indicator created a bullish divergence at the August low (green line). Bullish divergence occurs when the bearish momentum is not supported by momentum.

STORJ Price Prediction: Can it reach $1?
Technical analysts use Elliott Wave theory as a means to identify recurring long-term price patterns and investor psychology, helping them determine the direction of a trend.

The number of Elliott waves in the daily timeframe is increasing. It indicates that STORJ is in wave three of a five-wave upward movement.

The daily RSI supports this bullish outlook for the altcoin. The indicator is above 50 and rising, both of which are signs of an uptrend. Furthermore, the RSI broke above the bearish divergence (green line), a sign that the correction is complete.

If waves one and three are the same length, STORJ will reach a high of $0.70, 12% above the current price. If wave three lasts and is 1.61 times the length of wave one, the price could increase by 45% and reach the next resistance at $0.91.

Despite this bullish prediction, a close below the $0.50 horizontal zone would invalidate the breakout. In that case, STORJ could fall 60% to long-term support at $0.24.

Source:
https://tradecoind2.com/storj-hits-440-day-high-can-it-rise-to-1/