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The analyst predicts a 39,000% increase, taking the price of XRP to $220. Find out when here

Crypto analyst Crypto Eggag has shared another bullish prediction on the price of XRP, saying that the crypto token could soon reach triple digits. As part of his forecast, the analyst also listed several key price levels that XRP could reach on the path to $220.

XRP Price Could Reach $220 This Year

Crypto Eggag highlighted the $220 price level as one of the numbers that XRP price could reach based on its analysis of Fibonacci levels. Interestingly, the attached chart he shared shows that this price level could be reached this year.

Related Reading: Shiba Inu Burn Rate Sees 900% Increase Will SHIB price continue to rise?

Based on his analysis, XRP would hit “crucial numbers” such as the $1.2, $2.2, $5.8, $11, and $33 price levels before hitting $220.

The analyst assured that this price movement would undoubtedly be parabolic as he explained that it would be a GRB (Gamma-Ray Burst) event. He also noted that such a development could end up reflecting a similar development to that of the XRP price in 2017, when it increased by 61,000%.

Meanwhile, Egrag provided insight into when the XRP bull market could begin by highlighting the 12 and 24 SMA (simple moving average) as a “clear signal.” Once there is a bullish crossover above them, the bull run could take place almost a month later, according to the crypto analyst.

Steven McClurg, chief investment officer (CIO) of Valkyrie, hinted in a recent interview that an XRP ETF could hit the market at some point. His comments came as he suggested that the imminent approval of spot Bitcoin ETFs could open the door to other ETF applications centered around tokens such as XRP and Ethereum.

In response to McClurg’s interview, Fox business reporter Eleanor Terrett shared some thoughts based on conversations she had with some industry players about an XRP ETF. She explained in an article that there are “diverging views” on whether the Securities and Exchange Commission (SEC) is ready to approve a single-product XRP spot ETF.

She noted that bulls argue that the XRP token will be included in future funds, especially since it is the only digital asset with clear regulation. They also highlighted Grayscale’s decision to re-incorporate the token into the Grayscale Digital Large Cap (GDLC) fund as a positive sign that there will soon be an XRP ETF.

On the other hand, Terrett says bears argue that an XRP ETF can only be approved with congressional intervention on crypto regulation or a change in government. This argument is based on their belief that SEC Chairman Gary Gensler is unlikely to change his stance on crypto assets other than Bitcoin.

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Thai bank supports token issuance for profitable fundraising

Thai bank Kasikornbank Pcl is reportedly leading the way in digital asset financing options for businesses. The bank’s co-president, Pipit Aneaknithi, told Bloomberg in an interview: “We are advising some clients to issue tokens to raise funds.”

Thai Bank Crypto Advice for Fundraising

This is another bold move for the Thai bank after acquiring licensed digital asset exchange Satang Corp. The development marks the integration of a traditional financial institution into cryptocurrency trading. This is especially rare because regulators are taking a cautious approach to creating a cryptographic framework following some high-profile failures in the industry.

Meanwhile, Kasikornbank or K-Bank has established specialized divisions for blockchain and virtual token custody services. The lender has placed Aneaknithi “at the forefront of reforming the bank’s entire digital strategy.”

Thai lender sees potential in digital tokens

Aneaknithi told the newspaper: “We see potential in this market. “We are serious about developing a digital asset ecosystem that will be highly profitable compared to traditional platforms.”

The bank’s focus on digital assets comes as Aneaknithi emphasizes the profitability of issuing tokens compared to conventional lending or selling shares. He also imagines companies offering yield-tradable tokens.

Meanwhile, Thailand will review its income tax laws from January 1, 2024. This review will affect profits from cryptocurrency trading, offshore accounts and international stock brokers.

Despite the upcoming rules, cryptocurrency leader Binance began trading in Thailand in November. Binance Holdings forayed into the Southeast Asia region after partnering with Gulf Energy Development. The joint venture, Gulf Binance Co., received approval from the Securities and Exchange Commission of Thailand last month to begin its crypto exchange services in the country.

Huawei’s recent strategic partnership with Thailand’s Ministry of Digital Economy and Society marks another critical step in Thailand’s digital initiatives. The MoU marks a partnership under its “cloud-first policies” to prioritize digital transformation and adoption of AI technology in Thailand.

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Coinbase Announces SEAM Token Listing and Airdrop

Coinbase, a major player in the cryptocurrency exchange market, has taken an important step by listing SEAM, the governance token of the Seamless Protocol. This decision marks a new chapter in the exchange’s offerings, especially since SEAM is a Base-based token, a notable pivot in Coinbase’s strategy.

Seamless integration with Coinbase Prime Day listings

Coinbase has a reputation for its selective Prime Day listings, where tokens are available on the platform the same day as the generation event. Consequently, SEAM has joined this exclusive club alongside recent additions such as Big Time gaming token and Jito’s JTO token. This listing strategy emphasizes Coinbase’s commitment to offering its users new and promising digital assets.

Seamless Protocol operates as a decentralized lending and borrowing platform. Launched as a fork of Aave v3, an Ethereum-based protocol, it is built on Base, an Ethereum Layer 2 network incubated by Coinbase. Additionally, the project stands out for not raising funds through share sales or the SEAM token, highlighting its commitment to a fair launch approach.

SEAM Airdrop: a community-centric approach

The SEAM airdrop begins alongside the token listing. The total token supply is capped at 100 million, of which 69% is allocated to the community. This distribution strategy reinforces the community-centric spirit of the Protocol. However, users eligible for airdrop are early supporters who have participated in various community activities and missions.

Coinbase’s addition of SEAM is more than just a token listing, as it represents a broader shift in the platform’s approach to decentralized finance (DeFi). Additionally, as a native Base-based project, SEAM’s inclusion is a testament to the growing influence of DeFi platforms and their tokens in the broader crypto market.

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INSR token will be listed on the MEXC Global Exchange on August 7

PRESS RELEASE. MEXC is pleased to inform you that the revolutionary INSR Token cryptocurrency, intended to provide secure investments on decentralized pre-sale platforms, will be officially listed on the MEXC Global Exchange on August 7. This listing represents a major milestone for the INSR Token project and a new step in our mission to provide the crypto community with a secure and transparent investment experience.

MEXC Global Exchange is a leading cryptocurrency exchange serving a global audience known for its powerful and easy-to-use trading platform. Listing the INSR token in MEXC Global allows our community members to access the INSR token more easily and trade INSR tokens with high liquidity and efficiency.

Detail listing:

Trading pair: INSR/USDT

Listing date: August 7

At Insurabler, we believe this listing will further increase the visibility and adoption of the INSR token, allowing more users to take advantage of our decentralized insurance ecosystem. Increased availability will contribute to the liquidity and growth of the INSR token in the global market.

The Lord. Klaus, CEO of INSR, said: “We are delighted to collaborate with MEXC Global, a respected and dynamic cryptocurrency exchange, for the listing of the INSR token. This partnership will reach a wider audience and make the INSR token a major player in the crypto space. We continue with the goal of instilling trust and credibility in the crypto community,” he said.

About Insurable

INSR is a leading blockchain-based platform dedicated to providing secure and innovative solutions for cryptocurrency investors and projects. With our team of experienced experts and developers, we aim to promote trust, transparency, and excellence in the decentralized finance space.

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Tether Launches Mexican Peso Tokens on Ethereum, Tron, and Polygon

Stablecoin issuer Tether Operations Limited announced that the company has launched a new token pegged to the value of the Mexican peso. According to the team, the newly launched MXNT tokens will initially be hosted on Ethereum, Polygon, and Tron.

Stablecoin MXNT is pegged 1:1 to the Mexican peso

Stablecoin and blockchain firm Tether has revealed that it has launched a new fiat-backed token that will join the company’s pool of stablecoins. Tether launched MXNT, a stablecoin pegged to the value of the Mexican peso.

Tether’s other fiat token offerings include the popular USDT, which is pegged to the US dollar, and EURT, which is pegged to the value of the euro. The company also offers CNHT, a token pegged to the offshore Chinese yuan, and Tether gold XAUT, a token pegged to the value of an ounce of fine gold.

Tether USDT is the largest stablecoin in existence today as it currently has a market valuation of around $73.2 billion. The token’s market cap represents 5.77% of the $1.27 trillion crypto economy.

Of the $86.43 billion in digital currency trading volume on Thursday, the connection volume is around $45.42 billion, or 52.55% of today’s global trading volume. In terms of bitcoin (BTC) trading pairs, USDT is the top pair with bitcoin, capturing 55% of today’s BTC trading volumes. Tether says that the launch of MXNT will be a “testing ground for the integration of new users in the Latin American market.”

Paolo Ardoino, CTO of Tether, detailed during the announcement that the company has seen the popularity of digital currencies increase in Latin America. “We have seen an increase in the use of cryptocurrencies in Latin America in the last year, which has made it clear that we need to expand our offerings,” Ardoino said in a note sent to News.