In the semi-annual policy review conducted by the House of Representatives Financial Services Committee on June 21, the discussion took a turn towards the regulatory landscape of payment stablecoins.
At the meeting U.S. Federal Reserve Chair Jerome Powell spoke in response to committee member Maxine Waters’ queries regarding a groundbreaking proposed stablecoin law, the first of its kind in the United States.
With the cryptocurrency market’s optimistic outlook after the meeting, what are the best cryptos to buy now?
Waters expressed concerns about the bill, particularly the fact that it would introduce 58 new licenses, with only two being regulated at the federal level while the rest would be managed at state, territorial, and jurisdictional levels.
Powell shared her concerns about the potential risks of such a fragmented system.
Powell’s stance contrasts with that of Gary Gensler, the chair of the Securities and Exchange Commission, who suggested that stablecoins may need to be classified and regulated as securities, with the exception of Bitcoin.
At the other end of the spectrum, Rostin Behnam, the chair of the Commodity Futures Trading Commission, believes that stablecoins could be considered a commodity.
Former CFTC chair Chris Giancarlo also weighed in on the proposed bill, warning about the potential for government intervention in stablecoin services and noting the vulnerability of stablecoin transactions to political influence.
Amid this backdrop, investors are actively searching for promising digital assets like WSM, BCH, ECOTERRA, PEPE, DLANCE, XRP, and SWDTKN, buoyed by their strong fundamentals and positive technical signals in a hopeful cryptocurrency market.
Shooting Stars of Finance: Wall Street Memes Captures Crypto Market
The investorsphere is buzzing with anticipation as Wall Street Memes (WSM) advances its presale, sweeping in substantial sums daily.
As it stands, the presale has reached stage 17, collecting an impressive $9.12 million, with each WSM token valued at $0.0298. The fundraising cap is pegged at $30,577,000, spread across 30 stages.
The current trend suggests that the presale could reach its limit well ahead of its projected fourth-quarter 2023 conclusion.
A closer look at the Wall Street Memes platform and its vibrant community reinforces these expectations.
One crucial aspect drawing investors to Wall Street Memes is its extensive assembly of meme aficionados.
The WSM token was birthed from this dynamic, global community, which has thrived since 2019.
This community’s unwavering support grants Wall Street Memes an edge over other fleeting meme coins that often spring up in response to passing trends or impulsive tweets.
With a solid base of over a million followers, Wall Street Memes stands on firm ground for potential growth.
Behind WSM’s potential lies a solid tokenomics system designed to outlast the often brief lifespans of meme coins. Most meme coins are assets for rapid returns, vulnerable to pump-and-dump schemes.
To counter this trend, Wall Street Memes has allocated 30% of the total token supply to community rewards, hosting regular giveaways and airdrops to encourage investors to hold onto their tokens, even amid market volatility.
With such promising developments, Wall Street Memes is earning its title as one of the best cryptos to buy now, with all eyes focused on its ascent.
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Bitcoin Cash (BCH): Breakout Momentum Builds as Key Indicators Signal Bullish Strength
Bitcoin Cash has recently experienced a significant breakout, surging past multiple key resistance levels as the market sentiment turns increasingly positive.
After consolidating above the Fib 0.236 level at $105.6 for the past four days, BCH managed to break free from the 20-day, 50-day, and 100-day exponential moving averages (EMAs), as well as the Fib 0.382, 0.5, and 0.618 levels.
This swift upward movement can be attributed to the evolving market outlook, which has grown notably more bullish.
Currently trading at $134.8, BCH has seen an impressive price increase of 22.55% so far today.
However, the cryptocurrency is encountering resistance at the Fib 0.786 level ($140.9), which coincides with a horizontal resistance zone ranging from $135.8 to $140.9.
Despite this resistance, several technical indicators suggest that the bullish momentum may continue in the short term.
The 20-day EMA ($111.1), 50-day EMA ($113.4), and 100-day EMA ($116.7) all lie below the current price, acting as potential support levels in the event of a price retracement.
Additionally, the RSI stands at 73.96, up from yesterday’s 50.75, indicating strong buying pressure in the market.
This level is just below the overbought threshold, suggesting that there may still be room for further upside.
The MACD histogram has increased to 2.2 from yesterday’s 0.5, providing further evidence of growing bullish momentum.
The market capitalization has also risen by 23.53% to $3 billion, while the 24-hour trading volume has seen a 619.61% increase to $541 million, both reinforcing the strength of the current breakout.
Despite the immediate resistance at the Fib 0.786 level ($140.9) and the horizontal resistance zone ($135.8 to $140.9), the overall technical indicators imply that the bullish momentum may persist in the immediate future.
Should BCH overcome this resistance, the next target would likely be the $150 psychological level.
However, traders are advised to remain cautious and monitor the market closely, as a potential retracement could find support at the Fib 0.618 level ($130.1).
Pick Green, Not Just Gold: Is ecoterra the Best Crypto to Buy Now?
Ecoterra is stirring interest in the crypto space with its mission to combat climate change. It’s offering a unique financial incentive – ecoterra tokens, which users earn through the platform’s Recycle2Earn program.
This mechanism invites individual users and corporations alike to actively participate in environmental stewardship, specifically through recycling.
Ecoterra tokens could appreciate in value, presenting the possibility of staking for passive earnings.
But beyond personal gain, the platform serves the larger ecological system. By promoting appropriate disposal of recyclable materials, ecoterra provides a strategic advantage to recycling companies and manufacturers of recyclable goods.
Ecoterra foresees the launch of a shared marketplace, where recycling companies can peddle their raw materials and product companies can acquire them for sustainable production.
The foundation of this marketplace is the Recycle2Earn app. It logs environmentally friendly actions of users and incorporates them into their profiles.
Companies, too, can monitor impact profiles to procure various materials from users, thus offsetting negative environmental consequences.
In addition to this, the platform plans to introduce two additional features – the carbon offset marketplace and the recycled materials marketplace.
Ecoterra tokens can be used in the carbon offset marketplace to balance carbon emissions, supporting globally accepted projects.
The recycled materials marketplace, on the other hand, will act as a conduit for companies and recyclers to discuss recycled materials and negotiate transactions.
June 20, 2023, saw ecoterra crossing an impressive milestone, with more than $5 million in funds raised. A testament to the support it has garnered for its noble mission and goals.
Currently, ECOTERRA tokens are priced at $0.00925 and can be purchased with ETH, USDT, or a card.
With a total supply of 2 billion tokens, they are expected to list at $0.01. So, if you’re contemplating the best crypto to buy now, think about going green with ecoterra.
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PepeCoin (PEPE): Bullish Momentum Emerges as Key Indicators Signal Potential Upside
PepeCoin has recently experienced a notable bounce from the Fib 0.236 level at $0.0000010774, breaking out from the 20-day EMA and retesting the newly established 50-day EMA earlier today.
Currently trading at $0.0000013435, PEPE has seen an impressive price increase of 25.66% so far today.
Several technical indicators suggest that PepeCoin’s bullish momentum may continue in the short term.
The 20-day EMA ($0.0000011000) is currently below the trading price, acting as a potential support level in the event of a price retracement.
Additionally, the RSI stands at 58.67, up from yesterday’s 48.75, indicating growing buying pressure in the market.
This level is still within the neutral zone, suggesting that there may be room for further upside.
The MACD histogram has also increased to 0.0000000554 from yesterday’s 0.0000000317, providing further evidence of rising bullish momentum.
However, PepeCoin is facing resistance at the Fib 0.5 level ($0.0000013718), followed closely by the 50-day EMA ($0.00000144).
Overcoming these resistance levels will be crucial for the cryptocurrency to maintain its current bullish trajectory.
Despite the immediate resistance at the Fib 0.5 level and the 50-day EMA, the overall technical indicators imply that the bullish momentum may persist in the immediate future.
Should PEPE break through these resistance levels, the next target would likely be the Fib 0.618 level (0.0000015034) in confluence with the horizontal resistance level of $0.0000014682 to $0.0000015284.
Traders are advised to remain cautious and monitor the market closely, as a potential retracement could find support at the Fib 0.382 level ($0.0000012402).
Ripple (XRP): Challenging Key Resistance as Bullish Sentiment Gains Traction
Ripple has been consolidating around the Fib 0.5 level at $0.4779 for the past six days and is currently attempting to break out from the 20-day EMA and the Fib 0.382 level at $0.5031.
This resistance coincides with the $0.50 psychological level, making it a critical point for XRP’s short-term price action.
Several technical indicators suggest that Ripple’s bullish momentum may be gaining traction.
The 20-day EMA ($0.4969), 50-day EMA ($0.4872), and 100-day EMA ($0.4700) all lie below the current trading price, indicating potential support levels in the case of a price retracement.
Additionally, the RSI stands at 51.77, up from yesterday’s 49.26, pointing to a slight increase in buying pressure in the market.
The MACD histogram has also improved to -0.0036 from yesterday’s -0.0048, further suggesting a shift in momentum towards the bullish side.
Ripple’s market capitalization has risen by 1.92% to $26 billion, while the 24-hour trading volume has increased by 22.21% to $1 billion. Both of these metrics reinforce the emerging bullish sentiment.
Currently trading at $0.4998, XRP has seen a modest price increase of 1.40% so far today.
However, the cryptocurrency faces immediate resistance at the Fib 0.382 level ($0.5031).
Overcoming this resistance will be crucial for Ripple to maintain its current bullish momentum and potentially target higher price levels.
Despite the immediate resistance at the Fib 0.382 level, the overall technical indicators suggest that the bullish momentum may persist in the immediate future.
Should XRP break through this resistance, the next target would likely be the Fib 0.236 level ($0.5344).
Traders are advised should remain cautious and monitor the market closely, as a potential retracement could find support at the 20-day and 50-day EMAs, followed by the Fib 0.5 level at $0.4779.
Swords of Blood: A New Force Stirs in the Crypto Gaming Arena
Swords of Blood is preparing for its highly-anticipated launch on June 30 after a successful presale campaign that has so far amassed $1.31 million.
Branded as a potential Diablo slayer, this hack n slash RPG, complete with dynamic combat, stunning visuals, and diverse gaming modes, is slated for release on the Polygon platform.
What makes Swords of Blood unique is its free-to-play design, which welcomes both traditional gamers and crypto enthusiasts.
In contrast to the numerous play-to-earn games currently saturating the market, Swords of Blood offers a lower barrier to entry, turning the joy of gaming into a fun and profitable venture.
The narrative of the game revolves around the grim downfall of the World of Ezura, a land overrun by treachery, violence, and an insidious evil.
Players have the opportunity to join the ranks of the resurrected warrior order, guided by an ancient goddess known as the Sentinel, in their quest to reclaim Ezura.
The combination of compelling gameplay and attractive earning possibilities has bolstered the game’s community over recent months, leading to a brisk presale.
The strong momentum and community support have made Swords of Blood one of the best crypto to buy in the current market.
Taking a deeper dive into the game’s mechanics, Swords of Blood offers unique item classifications based on rarity and elements, each bringing distinct abilities to the gameplay.
An intriguing feature is the Item Progression Systems with Level Up and Blessing subsystems, which allow players to enhance their items’ power.
The SWDTKN token, while the game is primarily free, will unlock premium content, enable hero-level advancement, and provide entry to tournaments and rankings.
As Swords of Blood gets ready for its launch, its potential as a unique gaming experience that merges fun and profit is indisputable.
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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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