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JPMorgan, 6 Indian Banks to Settle Dollar Trades on Onyx Blockchain System

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JPMorgan Collaborates with Six Indian Banks to Settle Dollar Trades on Onyx Blockchain System

In a groundbreaking initiative, JPMorgan (JPM) has partnered with six prominent Indian banks to facilitate interbank dollar transactions through its blockchain-based trading platform called Onyx. According to a report by Bloomberg, the investment bank plans to conduct a pilot project over the next few months in collaboration with HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank, and JPMorgan’s own banking unit in Gujurat, India.

The primary objective of this ambitious project, commencing today, is to enable real-time settlement of dollar trades, irrespective of the time of day, as opposed to the current practice of settling such trades over several days and only during the working week. Onyx, which was established in 2020, serves as JPMorgan’s digital assets network for facilitating wholesale payment transactions.

GIFT City, also known as the Gujurat International Finance Tec-City, has been chosen as the headquarters for this initiative. GIFT City represents India’s strategic endeavor to establish an international finance hub to rival prominent financial centers like Singapore and Dubai.

At the time of reporting, JPMorgan had not yet responded to CoinDesk’s request for comment on the matter.

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Crypto Currency

Web3 Gamer: GTA 6 get paid in cryptocurrency ?

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Speculation Surrounds Grand Theft Auto VI’s Integration of Cryptocurrency

Rumors are once again circulating about the incorporation of cryptocurrency and non-fungible tokens (NFTs) in the highly anticipated game, Grand Theft Auto VI, igniting curiosity and speculation among fans.

Social media posts, particularly on Twitter, have suggested that GTA 6 will introduce a play-to-earn concept, where in-game items like cars and weapons will be transformed into NFTs.

Rockstar Games, the creator of the GTA series, has yet to address the validity of these claims, leaving little concrete evidence to support the rumors at this time.

It’s worth noting that the company took action against the usage of cryptocurrency in GTA back in November of the previous year. Cease and desist letters were sent to companies operating public servers with blockchain integrations, dealing a significant blow to several game developers who had built their titles on this platform.

Considering the remarkable success of its predecessor, GTA 5, which has sold over 180 million copies and generated a staggering $8 billion in revenue since its release in 2015, it appears unlikely that Rockstar would drastically deviate from the winning formula of the franchise. Fans can expect the next installment to be released either next year or in 2025.

While there is a possibility of a cryptocurrency element being included in the game, it might not align with the expectations of cryptocurrency enthusiasts. Game Rant suggests that Rockstar Games could potentially employ cryptocurrency as a subject of satire or ridicule within the game’s narrative, rather than as a prominent gameplay mechanic.

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Crypto Currency

Brazilian crypto exchange Mercado Bitcoin licensed as payment provider

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As a payment institution, MB Pay will enable certain digital banking services to the crypto exchange’s users in the country.

Cryptocurrency exchange Mercado Bitcoin was granted a payment provider license from Brazil’s central bank on June 2, according to local media reports. With the license, the company will launch its fintech solution MB Pay.

“The approval of the Central Bank is a crucial step, as it allows us to continue expanding our business and providing a better service to our customers,” said Roberto Dagnoni, CEO of 2TM, the parent company of Mercado Bitcoin.

As a payment institution, MB Pay can provide Brazilian users with specific digital banking services using crypto assets held on the exchange, such as digital fixed-income investments, staking and other financial transactions. A debit card offering a crypto off-ramp for users is expected to go live soon.

Previously, traditional local broker Guide Investimentos also announced a partnership with Mercado Bitcoin to enter the digital asset market.

Mercado Bitcoin’s fintech rollout had been planned for 2021 but was delayed due to the regulator’s approval process. The development came on the same day Mercado Bitcoin was ordered to return over 2,182 Bitcoin — worth $59.3 million at the time of writing — back to a group of investors, alleging that a co-founder and former executive had withheld funds in a fabricated hack in 2013.

A vibrant demand for digital solutions and a population of almost 214 million have drawn crypto firms to the Latin American country. Binance has previously ranked Brazil among its top global markets. Its local partner, Latam Gateway, was also granted a payment provider license in the country on May 19.

Other crypto exchanges licensed as payment providers in Brazil include Crypto.com and Bitso.

Coinbase is also expanding operations in the country. Since March, the American exchange has partnered with local payment providers to offer crypto purchases, and enable deposits and withdrawals in the local currency.

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Cardano ADA Price Prediction 2024, will ADA’s price hit $5?

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In this analysis, we will delve into the future price trends of Cardano (ADA) in 2023 by employing reliable technical analysis indicators that are favored by traders. By studying the price patterns, we aim to forecast the potential movements of this cryptocurrency.

What is Cardano (ADA)?
Cardano (ADA) serves as the native token of the Cardano blockchain, which operates on the sustainable Proof-of-Stake (PoS) consensus mechanism called Ouroboros. Considered a third-generation blockchain, Cardano initially functioned as a layer-1 solution and later integrated the layer-2 update called Hydra in late 2021.

Cardano stands out as an enhanced version of Ethereum’s smart contracts network, with a focus on scaling the decentralized finance (DeFi) space and supporting the mission of providing banking services to the unbanked.

Cardano (ADA) Price Prediction 2023
Cardano (ADA) currently holds the 7th position in terms of market capitalization on CoinMarketCap. Let’s provide an overview of the projected price movement for Cardano in 2023, based on a daily time frame.

Source Tradingview

The chart above displays a cup and handle pattern formed by Cardano (ADA). This pattern consists of a U-shaped cup followed by a subsequent downward drift in price forming the handle. Notably, this pattern is typically associated with a bullish trend.

If the price manages to break above the resistance at the neckline and continues to move upward, it suggests a continuation of the bullish pattern.

At the time of analysis, the price of Cardano (ADA) stood at $0.4131. If the pattern persists, we can anticipate ADA’s price to reach resistance levels of $0.4508 and $0.8238. However, if the trend reverses, the price of ADA may decline towards the support level of $0.2973.

Cardano (ADA) Resistance and Support Levels
The following chart presents the potential resistance and support levels for Cardano (ADA) throughout 2023.

ADA/USDT Resistance and Support Levels (Source: TradingView)

From the above chart, we can analyze and identify the following as the resistance and support levels of Cardano (ADA) for 2023.

Resistance Level 1 $0.4198
Resistance Level 2 $0.5256
Support Level 1 $0.2981
Support Level 2 $0.2393
ADA Support and Resistance Levels
As per the above analysis, if Cardano’s (ADA) bulls take the lead, then it might hit and break through its resistance level of $0.5256.

Conversely, if Cardano’s (ADA) bears dominate the trend, the price of ADA might plunge to $0.2393

Cardano (ADA) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Cardano (ADA) are shown in the chart below.

The Relative Volume (RVOL) technical analysis indicator is utilized to assess the trading volume of an asset relative to its recent average volumes. It is calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Traders often rely on RVOL to identify unusual trading activity and changes in market sentiment.

During the analysis, the RVOL of Cardano (ADA) was observed to be below the cutoff line, indicating a low volume of participants trading in the current trend. This suggests a relatively weak market participation in ADA at the time.

Another important technical indicator is the Moving Average (MA), which helps smooth out price data and identify market trends. It calculates the average price of an asset over a specific period. Specifically, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above the 50 MA, it indicates an uptrend (bullish), while a position below the 50 MA suggests a downtrend (bearish).

In the chart provided, Cardano’s price is positioned above the 50 MA (short-term), indicating an uptrend and a bullish state for ADA. However, it’s important to note that trends can reverse, so it is advisable to remain vigilant.

The Relative Strength Index (RSI) is another significant analysis indicator that helps traders gauge the strength and momentum of an asset’s price movement over a specific period. It calculates the RSI by comparing the average gains and losses of the asset over the past 14 periods, resulting in a value between 0 and 100. Readings above 70 suggest an overbought state, while readings below 30 indicate an oversold state.

Traders frequently use the RSI to identify potential trend reversals or confirm the direction of a trend. For example, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may indicate an upcoming pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, ADA’s RSI was at 53.92. This indicates that ADA is neither overbought nor oversold, and it is on the edge of transitioning into an overbought state. Traders should pay close attention to ADA’s RSI as it approaches the overbought threshold.

Cardano (ADA) Price Prediction 2023 — ADX, RVI
In the following chart, we will analyze the strength and volatility of Cardano (ADA) using two additional technical analysis indicators: the Average Directional Index (ADX) and the Relative Volatility Index (RVI).

From the analysis presented above, it is evident that the price of ADA follows a similar pattern to that of BTC and ETH. When BTC and ETH experience price increases or decreases, ADA tends to follow suit.

Cardano (ADA) Price Prediction 2024-2030
Taking into consideration the technical analysis indicators and trend patterns discussed earlier, let’s forecast the potential price of Cardano (ADA) from 2024 to 2030.

Cardano (ADA) Price Prediction 2024
If the bullish momentum prevails and ADA continues to exhibit positive trend patterns, it has the potential to surpass resistance levels and reach $2 by 2024.

Cardano (ADA) Price Prediction 2025
With significant upgrades in the Cardano ecosystem, there may be an influx of investors, leading to a price increase. This could propel Cardano (ADA) to reach $4 by 2025.

Cardano (ADA) Price Prediction 2026
Assuming ADA successfully tests major resistance levels and maintains an upward trajectory, it could rally to hit $6 by 2026.

Cardano (ADA) Price Prediction 2027
If Cardano (ADA) maintains major resistance levels and continues to be a favorable investment option, it could rally to reach $8 by 2027.

Cardano (ADA) Price Prediction 2028
If Cardano (ADA) sustains a positive market sentiment amidst the highly volatile crypto market and experiences significant price rallies, it could reach $10 by 2028.

Cardano (ADA) Price Prediction 2029
If investors continue to show confidence in Cardano (ADA) and allocate their investments accordingly, the cryptocurrency could witness major spikes, potentially pushing ADA to $12 by 2029.

Cardano (ADA) Price Prediction 2030
By 2030, if the trend momentum aligns favorably for Cardano, the price of ADA might rally to $14. Additionally, ADA would likely maintain a positive market sentiment and be considered a long-term investment option with a highly profitable return on investment (ROI).

In conclusion, if Cardano (ADA) establishes itself as a promising investment in 2023, the year could be favorable for the cryptocurrency. The bullish price prediction for Cardano (ADA) in 2023 is $0.5256, while the bearish prediction stands at $0.2393. If market momentum and investor sentiment remain positive, Cardano (ADA) has the potential to reach $1. Furthermore, with future upgrades and advancements in the Cardano ecosystem, ADA may surpass its current all-time high (ATH) of $3.09 and set a new ATH.

FAQ:

What is Cardano (ADA)?
Cardano (ADA) is the native cryptocurrency of the Cardano blockchain, a smart contract-based platform launched in 2017 that utilizes the proof-of-stake (PoS) consensus mechanism.

Where can I buy Cardano (ADA)?
Cardano (ADA) can be purchased on various cryptocurrency exchanges such as Binance, Coinbase Exchange, KuCoin, Bitfinex, and OKX.

Will Cardano (ADA) reach a new all-time high (ATH) soon?
Considering the ongoing developments and upgrades within the Cardano platform, there is a high possibility of Cardano (ADA) reaching a new ATH in the near future.

What is the current all-time high (ATH) of Cardano (ADA)?
Cardano (ADA) reached its current ATH of $3.09 on September 2, 2021.

What is the lowest price of Cardano (ADA)?
According to CoinMarketCap, the all-time low (ATL) of ADA was $0.01735 on October 1, 2017

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Hong Kong and UAE central banks collab on crypto rules, fintech development

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The central banks of Hong Kong and the United Arab Emirates (UAE) have expressed their intention to collaborate on cryptocurrency regulations and the development of financial technology. The Hong Kong Monetary Authority (HKMA) announced on May 30 that it had met with the Central Bank of the UAE (CBUAE), with both institutions agreeing to enhance cooperation in the areas of “virtual asset regulations and developments.”

In addition, the two central banks have committed to facilitating discussions on joint fintech initiatives and sharing knowledge through their respective innovation hubs. They also discussed the importance of financial infrastructure and market connectivity between their jurisdictions.

H.E. Khaled Mohamed Balama, the Governor of the CBUAE, expressed his expectation that the relationship with the HKMA will be ongoing and long-term. Following the meeting, a seminar was held for senior executives from banks in Hong Kong and the UAE. The seminar covered various topics, including ways to enhance cross-border trade settlement and how UAE corporations can leverage Hong Kong’s financial infrastructure platforms to access Asian and mainland markets.

This collaboration comes at a time when the Hong Kong Securities and Futures Commission (SFC) has announced that virtual asset service providers (VASPs) will be allowed to cater to retail investors in Hong Kong starting from June 1. Hong Kong’s treasury chief, Christopher Hui, recently stated that the city has embraced the trading of cryptocurrencies by retail investors under its new regulatory framework because “virtual assets are going to stay.” Hui emphasized the benefits of cryptocurrencies, asserting that their advantages outweigh the associated risks. He stressed the importance of regulating these activities to harness their positive elements.

Since the SFC unveiled the application process, several cryptocurrency exchanges, including CoinEx, Huobi, and OKX, have submitted applications for dedicated Hong Kong crypto trading services.

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Chinese CCTV’s Crypto Promotes Bitcoin; Bull Run Expected Soon

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China Central Television (CCTV), the government-owned broadcasting corporation of China, recently aired a brief segment on the adoption of cryptocurrencies in Hong Kong, reaching an audience of over 1 billion viewers in Mainland China.

During the segment, state news anchors informed viewers that Hong Kong regulators had completed their preparations for the trading of virtual assets in the special administrative region. They further mentioned that applications from virtual asset trading platforms would be accepted. Notably, the broadcast did not contain any explicitly negative comments about cryptocurrencies, which stood in contrast to China’s official policy of banning cryptocurrency mining and exchanges in other parts of the country.

NEXT 1000X MEME COIN IS HERE

This programming development was seen as significant by some viewers, including Binance CEO Changpeng Zhao. According to Zhao, the Chinese-speaking communities were abuzz with excitement, as similar coverage in the past had often resulted in bullish market trends.

However, the enthusiasm was short-lived, as Chinese authorities reportedly removed the link to the segment just two days after its airing. This was not the first instance of such incidents occurring. Last month, Douyin, the Chinese version of TikTok with a user base of over 1 billion, began displaying cryptocurrency price quotes in its in-app search index. This move sparked a frenzy among Chinese crypto users, only to have the price quotes removed from the app a day later, accompanied by a message advising cautious investment due to the unofficial status of digital currencies compared to fiat currencies.

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Crypto Currency

Top 5 Meme coins to buy now Pepe and Sheep coin ?

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Invest in this top 5 Memes coins

In recent years, the cryptocurrency market has witnessed the rise of meme coins, a unique category of digital currencies that gained popularity thanks to their humorous, lighthearted nature. Meme coins have captured the attention of both crypto enthusiasts and the general public, often generating significant hype and astronomical price surges. In this article, we will explore the top 5 meme coins that have made a splash in the crypto world, revolutionizing the way we perceive digital currencies.

1. Dogecoin (DOGE):
The undisputed king of meme coins, Dogecoin was introduced in 2013 as a parody cryptocurrency but soon garnered a massive following due to its Shiba Inu dog logo and viral internet memes. What started as a joke gained traction, with high-profile endorsements from figures like Elon Musk. Dogecoin’s lightheartedness and strong community have propelled it into the mainstream, making it one of the most recognizable and widely accepted meme coins.

2. Shiba Inu (SHIB):
Inspired by Dogecoin, Shiba Inu was launched in August 2020. SHIB gained immense popularity due to its adorable Shiba Inu dog-themed branding and its association with the Dogecoin community. Known as the “Dogecoin killer,” Shiba Inu attracted attention by being listed on major cryptocurrency exchanges. Despite its relatively low price, SHIB has become a favorite among investors seeking high-risk, high-reward opportunities.

3. Sheep (Sheep coin): PRESALE IS LIVE BUY NOW

Sheep Coin goes beyond being just a meme coin; it introduces purposeful innovation to the market. While Doge and other meme coins primarily serve as speculative assets, Sheep Coin brings an added layer of purpose by supporting animal welfare organizations through its transactions. By investing in Sheep Coin, you not only join a fun and engaging community but also contribute to a cause you care about.

Memes with Value:
While meme coins often revolve around the creation and sharing of memes, Sheep Coin takes it a step further. Users can not only create and post their hilarious memes but also earn tips from the community. This incentivizes creativity and rewards users for their meme-making prowess. Moreover, Sheep Coin allows users to sell their memes as NFTs, transforming them into unique and valuable digital assets. This feature provides users with an opportunity to monetize their creativity and potentially generate additional income.

Community Engagement:
Sheep Coin thrives on fostering an active and passionate community. It encourages interaction among users, promoting a collaborative environment where creativity flourishes. By joining Sheep Coin, you become a part of a community that shares your interests, values, and humor. Engaging with like-minded individuals amplifies the overall experience and creates a sense of belonging within the meme coin space.

Transparency and Trust:
In the crypto world, trust and transparency are crucial. Sheep Coin understands this, and its developers prioritize maintaining an open and transparent approach. By providing regular updates, addressing community concerns, and implementing secure protocols, Sheep Coin builds trust among its users. This commitment to transparency sets Sheep Coin apart and establishes a solid foundation for long-term growth and sustainability.

Evolutionary Potential:
While Doge and other meme coins have made their mark, Sheep Coin presents an opportunity for evolutionary growth. Its purpose-driven approach, coupled with its innovative features, creates a strong foundation for further development and expansion. As Sheep Coin continues to gain popularity, it has the potential to unlock new possibilities and partnerships, broadening its impact in both the crypto and meme worlds.

BUY SHEEP COIN NOW PRESALE IS ONGOING

4. Baby Doge Coin (BabyDoge):
Following in the footsteps of its predecessor, Dogecoin, Baby Doge Coin aims to create a sense of community and fun while providing value to its holders. Launched in June 2021, BabyDoge garnered attention for its charitable efforts and commitment to animal welfare causes. With a dedicated fanbase and active development team, Baby Doge Coin has managed to carve out its own niche within the meme coin space.

5. Pepe Coin (PEPE):
Pepe Coin is a meme cryptocurrency inspired by the iconic internet character Pepe the Frog. Launched in 2016, Pepe Coin has gained a dedicated following due to its association with meme culture and the online community. The project emphasizes decentralization and community engagement, and it has its own unique artwork and merchandise. While Pepe Coin may not have the same level of mainstream recognition as some other meme coins, it remains a favorite among meme enthusiasts.

Conclusion:
Meme coins have undoubtedly made their mark on the cryptocurrency world, attracting both fervent supporters and skeptics. While they may have started as jokes or parodies, meme coins have shown that they can garner significant attention and even become valuable assets. Dogecoin, Shiba Inu, Sheep Coin, Baby Doge Coin, and Hoge Finance represent some of the most prominent meme coins that have captured the imagination of the crypto community. However, it’s crucial to approach meme coins with caution due to their inherent volatility and speculative nature. As with any investment, thorough research and risk assessment are essential to make informed decisions in the ever-evolving world of cryptocurrencies.

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Sheep coin a decentralized meme platform for memes and nfts

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In recent years, we have seen the rise of meme culture and the increasing popularity of cryptocurrencies. These two phenomena have now collided in the form of Sheep Coin, a new meme coin that allows users to create and share memes, earn tips, and even sell them as NFTs.

At its core, Sheep Coin is a fun and interactive way to engage with the crypto world. With its innovative platform, users can create and share their own memes, and earn tips from other users who appreciate their creativity. But Sheep Coin isn’t just about having fun – it also has the potential to be a profitable investment.

During the presale period, early adopters of Sheep Coin have the opportunity to buy in at a discounted price before the public launch. This means that those who get in early could potentially make a significant return on their investment if the coin gains popularity in the market.

But Sheep Coin isn’t just any meme coin. With its unique NFT feature, users can sell their memes as digital art pieces, adding even more value to the coin. NFTs, or non-fungible tokens, are digital assets that are verified on a blockchain network. By selling their memes as NFTs, users can potentially earn even more money while also showcasing their art to a wider audience.

But what sets Sheep Coin apart from other meme coins is its focus on community. Sheep Coin isn’t just about making money – it’s about creating a fun and inclusive environment where users can share their creativity and engage with others who share their interests. With its innovative platform and passionate community, Sheep Coin is poised to be a major player in the meme and crypto world.

If you’re looking for a fun and potentially profitable way to engage with the crypto world, look no further than Sheep Coin. Join the presale today and become a part of the most fun and creative community in the crypto space. Who knows? Your next meme could be worth more than you ever imagined.

Buy Sheep At Official Website
Website: https://sheepmeme.com/
Twitter: https://twitter.com/sheepmemecoin

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How to sell bitcoin crypto for USDT paypal and cash app

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bitrofex exchange bitcoin p2p for cash paypal usdt

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FTX has recovered $7.3 Billion in cash and liquid crypto assets

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FTX exchange news

Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company’s attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware.

FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of indicted ex-founder Sam Bankman-Fried. Bankman-Fried has pleaded not guilty.

The situation has stabilized, and the dumpster fire is out,” Dietderich said.

FTX has benefited from a recent rise in crypto prices, Dietderich said. Its total recovery would be valued at $6.2 billion based on crypto prices from November 2022, when it filed for bankruptcy after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal.

FTX’s new CEO John Ray has detailed improper fund transfers and poor accounting at the collapsed crypto exchange, describing it as a “complete failure” of controls.

As it looks to the future, FTX is negotiating with stakeholders about options for restarting its crypto exchange, and it may make a decision on that in the current quarter, Dietderich said.

He offered few details on what a reboot might mean for FTX customers whose crypto deposits have been locked up during the bankruptcy case.

So far, FTX customers in Japan have been the only ones able to withdraw any funds so far, because of that country’s relatively strong crypto regulations, Dietderich said.

FTX would need significant capital to restart its crypto exchange, because the existing customer interface had little connection to the movement of money behind the scenes, the lawyer said.

“The app worked beautifully, but in truth it was a facade,” Dietderich said.

It is not clear whether FTX should use its own funds to re-start the exchange, rather than using the money to repay customers, Dietderich said. Restarting the exchange might require outside funding or a sale of the exchange’s assets.

FTX is also working on a preliminary Chapter 11 plan that would offer the company a path out of bankruptcy, Dietderich said.

FTX intends to file that plan by July, but it acknowledged that many details would have to be worked out as creditors fight for their share of the company’s assets. FTX does not expect any Chapter 11 plan to be approved before the second quarter of 2024.

Bankman-Fried and several company insiders have been indicted on fraud charges for their role in the company’s collapse. In contrast to Bankman-Fried’s not guilty plea, the former members of his inner circle have pleaded guilty and agreed to cooperate with prosecutors.

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