Day: July 8, 2024

BTC price disappoints with the weekly close, leading to accusations of a “dead cat bounce” from Bitcoin traders wary of new lows.

The BCSC finds LiquiTrade guilty of running an illegal exchange, which could result in sanctions ranging from fines to a ban.

A victim who claims to have lost $1.7 million said a scammer called them claiming to be from Coinbase and sent emails that looked like they came from the crypto exchange.

Firedancer is a highly anticipated new validator client for the Solana blockchain and its creator is calling on devs to look high and low for any critical bugs.

Expanding the number of Bitcoin machines or facilities “makes no sense” if profitability margins don’t increase, TeraWulf’s Kerri Langlais stressed.

“The scammers have been scammed” — notorious crypto-draining took kit just lost 10 ETH to a wallet poisoning attack.

The country’s current progress appears to be on par with Elon Musk’s Neuralink.

Solana meme coins have done well and gained market share this year.

Developers have turned to Solana because of its faster speeds and low costs.

Tequila (JULIO) hopes to become the next big thing in the meme coin industry.

Solana meme coins have done well this year as they became the biggest competitors to Ethereum ones like Pepe and Shiba Inu. Dogwifhat (WIF) has become the fourth-biggest meme coin in the world while Bonk and Book of Meme have continued to gain market share. 

More Solana meme coins are being launched to take advantage of this trend. One of the most anticipated ones is known as Tequila (JULIO), whose fair launch will happen on July 10th. 

Why Solana meme coins have done well

Solana meme coins have become the best-performing assets in the crypto industry this year. That happened as Solana became the best alternative to Ethereum’s ecosystem. 

There are three main reasons for this. First, Solana is known for its quicker transaction speeds compared to Ethereum and BNB Chain. Solana can handle over 2,000 transactions per second (TPS) while Ethereum handles less than 50. 

Second, Solana is known for its scalability sincer it is designed to scale with Moore’s Law, which implies that it does well as the computing industry improves. 

Third, Solana has substantially lower costs than Ethereum and other popular layer-1 networks. It handles many transactions for just cents. A good example of this is in its total fees this year. While Ethereum has collected over $1.4 billion in fees this year, Solana has made less than $300 million.

Further, there is a lot of hype surrounding the success of Solana dApps this year. For example, decentralized exchanges (DEX) like Raydium, Jupiter, and Orca have constantly moved into the top ten of the biggest DEX networks in the industry. Also, Solana meme coins have made more headlines this year.

Tequila hopes to be a key Solana meme coin

The past few weeks have seen several drink-related tokens on Solana’s ecosystem. Beercoin and Water did not do well as insiders dumped the tokens shortly after launch, leading to substantially losses. 

Tequila, which is a popular drink that originated from Mexico, hopes that it will become the biggest drink-themed token on Solana’s ecosystem. This is notable because of the role that tequila plays in the drinks industry. In 2023, Mexico shipped over 400 million liters and made over $32 billion in revenue.

Tequila will not have a typical token sale. Instead, it will have a fair launch on July 10th. A fair launch is where all tokens are issued instantly. After that, the developers hope to launch its marketing push and listings on key platforms like CoinMarketCap and CoinGecko.

This process will be followed by the listings on key centralized exchanges and the launch of tequila-themed parties. In the future, the developers will work to launch the utility features of the JULIO token, including its layer 3 networks. You can learn about Tequila (JULIO) here.

The post Traders eye the next Solana meme coin: Tequila (JULIO) appeared first on CoinJournal.

Buyers will need to keep Bitcoin above $53,500 to start a recovery in SOL, DOT, NEAR and KAS.

Cryptocurrency prices have retreated sharply in the past few weeks. 

Bitcoin has crashed below $60,000 and formed a double-top pattern.

Poodlana aims to become the next big thing in the crypto industry.

The crypto industry has faced substantial headwinds in the past few weeks. Bitcoin has moved to a bear market while most tokens have dropped by double digits from their highest levels this year. Despite this price action, there are signs that Poodlana, an upcoming Solana meme coin will be the next big thing in the crypto industry.

Why cryptocurrencies have dropped

There are a few reasons why Bitcoin and other altcoins have dropped recently. First, we have had no major news in the industry since April when the Bitcoin halving happened. As a result, there have been fears that a new crypto winter is happening, which explains why the fear and greed index has moved to the fear zone. 

Second, the Securities and Exchange Commission (SEC) is yet to approve a spot Ethereum ETF, which is seen as an important catalyst for the industry. Still, there are signs that the agency will do this approval in the next few months. 

Third, these coins have jumped amid supply and demand dynamics. Bitcoin supply has reduced sharply in the past few months because of the halving event. However, there are signs that supply increased from other areas. For example, the German government has continued depositing coins in exchanges, which happens before liquidation. 

Further, Mt. Gox has continued to move coins to wallets. Altogether, the German government and Mt.Gox could bring Bitcoin worth billions of dollars to the market. In a statement last week, Justin Sun offered to buy Bitcoins from the German government though it is unclear whether it will accept the offer.

There are other reasons why this crash has happened. Technically, Bitcoin has formed a double-top pattern, which is a popular bearish sign.

The case for Poodlana

Despite these issues, there are signs that Poodlana, an upcoming Solana meme coin, will be the next big thing in the crypto industry. 

Poodlana, which is derived from the term poodle, a popular Japanese dog breed, aim to be the Solana alternative to other dog meme coins like Floki, Dogecoin, and Shiba Inu.

The developers will start its 30-day token sale on July 17th, which will be followed by a DEX listing. Unlike other token sales, Poodlana’s sale will move to Raydium and other Solana DEX platforms 60 minutes after the sale ends. 

There are a few reasons why Poodlana could be a big meme coin. First, there are signs that dog-themed tokens are doing well. Recently, a token known as Billy, has accumulated a market cap of over $117 million. 

Myro, another Solana meme coin, has had over $109 million in market cap while Brett and Dogwifhat are valued at  $1.17 billion and $4 billion, respectively.

Poodlana will likely join them because of poodles popularity in key Asian markets like South Korea, Japan, and China. 

Further, the developers are planning numerous activities to boost its value. Some of these growth strategies are a marketing blitz, a staking platform, and exclusive airdrops to holders. You can learn more about Poodlana here.

The post Could Poodlana become the next big meme coin? appeared first on CoinJournal.