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Bitcoin Wallet Cryptocurrency news

Trust Wallet and Alchemy Pay Partner for Seamless Crypto Solutions

PRESS RELEASE. Alchemy Pay, a leading provider of fiat and crypto payments solutions, announced a new partnership with Trust Wallet, the leading self-custody and multi-chain wallet with over 70 million users, allowing users to easily buy and sell cryptocurrencies with multiple payments fiduciaries within Trust Wallet. directly.

The integration allows users to have more inbound and outbound solutions, accelerating web3 adoption and lowering the barrier to entry for retail users. Trust Wallet users can now easily convert between cryptocurrency and fiat using multiple local and international payment methods, with over 30 fiat currencies and 10 million cryptocurrencies on over 100 supported blockchains.

“Alchemy Pay is very proud to partner with Trust Wallet, a leading crypto wallet, to provide comprehensive inbound and outbound support to a global community of users. Our unwavering commitment is to facilitate a seamless, compliant and secure user onboarding process on both the fiat on-ramp and crypto off-ramp,” said Robert McCracken, Alchemy Pay Ecosystem Lead.

Nate Zou, Product Lead at Trust Wallet, stated: “We are excited to offer more fiat solutions to our users working with Alchemy Pay, making cryptocurrencies more accessible than ever. “This opens up new purchasing options for our global user base and introduces lower fees and more convenient payment methods, while maintaining full ownership of your assets.”

Alchemy Pay specializes in providing solutions that enable Web3 and cryptocurrency services to access fiat payment options, thereby improving their accessibility to a broader audience. Leveraging its extensive network of global remittance companies and acquirers, Alchemy Pay currently supports impressive coverage of over 300 fiat payment channels spanning 173 countries.

Alchemy Pay’s main focus and advantageous areas are in emerging markets such as Southeast Asia and Latin America. In particular, it has successfully integrated with widely used local e-wallets such as GCash (with 60 million users) and Maya (50 million users) in the Philippines, OVO (92 million users) and Dana (115 million users) in Indonesia, Touch ‘n Go in Malaysia (17.8 million users), Pix in Brazil (116 million users) and others.

In its quest to expand its service portfolio, improve transaction success rates, and optimize operational efficiency, Alchemy Pay is actively seeking licenses in several countries and regions, including the United States, Canada, Indonesia, and Lithuania. Over the past three months, Alchemy Pay has scored a series of victories by securing money transmission licenses in Arkansas and Iowa to demonstrate its capabilities. Additionally, it has future plans to achieve regulatory compliance in Hong Kong, the United Kingdom and the United States. Alchemy Pay is also currently the official payment services provider for Visa and Mastercard, ensuring secure and compliant processes for inbound and outbound transactions.

About Alquimia Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects cryptocurrencies with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.

Rampa is a complete solution for buying and selling cryptocurrencies and fiat currency, easily integrated into platforms and dApps as per requirements. NFT Checkout allows direct NFT purchases using fiat payment methods. The Crypto Card solution enables businesses and token issuers to provide users with branded physical and virtual cards for instant global spending. ACH is the token of the Alchemy Pay network on the Ethereum blockchain.
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cryptocurrency exchange Cryptocurrency news Ripple Tether

XRP Price Prediction as Correction Trend Stops at $0.57

XRP Price Prediction: Bitcoin price’s continued struggle to break the $38,000 resistance has cast a shadow of uncertainty over the market. This domino effect is noticeable in the price of XRP, which has recently entered a phase of sideways fluctuation. This trend follows the buyer stabilizing at a support level of $0.57. Currently, XRP’s price trajectory is being shaped by a symmetrical triangle pattern, a development that offers insight into its near-term outlook.

Also read: SEC meeting raises hopes for resolution of Ripple-XRP case

Triangle pattern pins recovery at $0.7

   Under the influence of a symmetrical triangle pattern, XRP price may remain sideways for the next week.

   XRP price trading above the 50% Fibonacci retracement level reflects that the overall recovery trend is intact.

   XRP intraday trading volume is $865 million, indicating a 15% loss.

Over the past fortnight, the price of XRP has traded within a limited range bounded by the converging lines of this symmetrical triangle. Notably, the cryptocurrency rebounded from these trend lines twice, underscoring the significant influence this pattern has on market behavior.

With a modest intraday increase of 0.6%, XRP price has recently recovered from the lower boundary of this pattern, now hovering around the $0.606 mark. This bullish reversal is likely to lead to a 3% rally, only to find immediate resistance at the upper boundary of the triangle.

Although bullish resistance could prolong the sideways trend, the converging nature of the pattern would ultimately result in a breakout move. If recent corrections have sufficiently revived bullish momentum, a bullish violation of the triangle’s upper trendline would mark the continuation of an uptrend.

This scenario could increase the value of XRP by 12%, reaching the key threshold of $0.7.

Support trend line maintains long-term uptrend

Although the prevailing trend is bullish, a downward break of the triangle support line could amplify the selling pressure, which could trigger an extended correction phase. In that case, the price of XRP could fall to $0.57 and possibly even further to $0.53. However, a broader perspective reveals a long-term ascending trend line that has consistently provided dynamic support to XRP, presenting buyers with a favorable downside opportunity.

   Exponential Moving Average – XRP price fluctuation around the slope of the 200-day EMA reflects the feeling of indecision among traders.

   Moving Average Convergence and Divergence: A bullish crossover between the MACD and the signal line accentuates the growing buying pressure amid the current correction trend.
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Bitcoin Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news

ProShares Futures Bitcoin ETF Hits ATH on Spot ETF Hype

Amid growing anticipation and excitement surrounding the Bitcoin spot ETF, the ProShares ‘BITO’ BTC Future ETF has reached a new all-time high (ATH).

ProShares Futures BTC ETF performs well

According to a post on X by Bloomberg ETF analyst James Seyffart, ProShares’ BITO is approaching $1.5 billion in total value locked (TVL). This comes just two weeks after Eric Balchunas acknowledged that the product works extremely well. Balchunas highlighted that the ProShares Bitcoin Futures ETF doubled in value in 30 days.

At the time, the popular analyst attributed the rise in value to industry-wide anticipation for the immediate approval of the Bitcoin ETF by the US SEC. A user X pointed out the irony in the relationship between the ProShares Bitcoin Futures ETF and potential BTC spot ETFs.

Once the SEC approves the Bitcoin spot ETF, it will certainly replace products like the ProShares BTC Futures ETF. Spot ETFs allow investors to legally trade the price of BTC without owning a Bitcoin address or privacy keys. This is different from futures, which only mimic the spot price of Bitcoin and offer exposure to the price movements of Bitcoin futures contracts.

Bitcoin ETF approval odds remain at 90%

Optimism regarding the agency’s positive decision continues and has even intensified in recent days. Experts still express optimism about the possibility of a timely approval of the Bitcoin ETF. Balchunas reiterated his earlier prediction that SEC approval is a matter of time.

He boldly stated that the chances of approval remain at 90%, as previously speculated.

The SEC just delayed Franklin Templeton and Hashdex’s Bitcoin ETF applications due to the premise that “the rules of a national securities exchange must be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest’. “

In connection with the delay, the SEC is now seeking public comment on whether Templeton’s application should be approved or disapproved. As the SEC provided the update to Franklin Templeton’s application ahead of the January 1, 2024 deadline, it suggests that the regulator may be streamlining all BTC spot ETF applications for mass approval in January.

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Bitcoin ETF Cryptocurrency news Ripple Tether

USTC surges 15% amid recovery following LUNC’s BTC surge

Terra Luna Classic (LUNC) and Terra Classic USD (USTC) have recently experienced major price fluctuations. After an impressive rally, both tokens suffered a pullback, attracting the attention of investors and market analysts. However, LUNC and USTC have nullified the bearish trend, with prices up 18% and 15% at the time of publication.

LUNC Roller Coaster Week

LUNC, the revamped version of the original Terra Luna, posted a notable 26% gain last week. This surge peaked on November 27, when the token reached $0.000128 before the momentum faltered and the price fell to $0.000095. Furthermore, despite this decline, LUNC has seen a substantial increase of 27.70% in the last seven days and an even more impressive increase of 49.23% in the last month.

USTC Soars After LUNC Recovery

Similarly, USTC, the dollar-pegged stablecoin that remained unpegged after the 2022 crisis, made headlines with a surge of over 200%. Although it reached a high of $0.078, the price adjusted to an intraday low of $0.03147 before establishing solid support. Despite this, USTC has recovered, up 205.53% last week and up 233.95% for the month. Furthermore, at press time, USTC had reversed downward pressure, rising 15.90% to $0.046125, according to CoinStats.

USTC Price Chart

One of the main drivers of these price movements is the recent strategic acquisition of USTC by Terra Classic Labs, which has also positively influenced the value of LUNC. However, despite the recent negative trend, a decline of over 20%, USTC has gained bullish momentum over the past day. This resurgence is attributed to LUNC’s bullish recovery after Bitcoin (BTC) surpassed $38,000.

Despite these fluctuations, the tokens have attracted significant attention in the crypto community. Santiment analysts suggest that the initial price rises of LUNC and USTC may have been driven by fear of missing out (FOMO) among investors.

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Bitcoin Bitcoin Wallet cryptocurrency exchange Cryptocurrency news

eToro Bags License to Operate in the United Arab Emirates

Global trading and investment platform eToro has announced the receipt of its latest license from the United Arab Emirates.

eToro license marks an important milestone

eToro has received approval to operate under the Financial Services Permit (FSP) from the international financial center in the capital of the United Arab Emirates, the Abu Dhabi Financial Markets Authority (ADGM). The license was specifically issued by the ADGM Financial Services Regulatory Authority. Possession of this license gives the social investment platform the legal right to offer its services in the region.

Notably, this new license from eToro authorizes the platform to operate as a securities, derivatives and cryptoassets broker in the United Arab Emirates. The company recognizes the latest addition as a milestone in its journey toward global expansion.

The United Arab Emirates becomes a crypto paradise

eToro also plans to help UAE residents increase their wealth by providing them with an avenue to gain financial knowledge, especially when it comes to cryptocurrencies. On the other hand, ADGM is confident that eToro’s UAE license, which gives the company access to ADGM’s dynamic ecosystem and progressive regulations, will help drive the platform’s vision.

It is important to note that the crypto atmosphere in the UAE has become conducive for many crypto companies, especially those seeking solace outside the United States. Regions like Dubai and Abu Dhabi have become safe havens for crypto companies facing challenges with US authorities due to the clear regulatory framework available.

In May, the UAE Central Bank published new AML guidelines for financial institutions dealing with cryptocurrencies and NFTs. A few months later, Binance, a leading digital asset services provider, became the first cryptocurrency exchange to receive the Minimum Operating Viable Product license in Dubai, proof that the region’s regulatory push is working.
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