Crypto worry and greed index rises as Memeinator good points momentum

• Binance settled with the SEC and agreed to pay $4.3 billion.

• Changpeng Zhao additionally agreed to step down because the CEO and pay $50M.

• Memeinator continued with its token sale because it raised over $1.4 million.

The crypto worry and greed index remained within the inexperienced this week even because the trade went via extreme challenges. Bitcoin surged to over $38,000 whereas crypto tokens like Superverse (SUPER), GameSwift, and EthereumPoW greater than doubled. In all, the entire market cap of all digital currencies approached the $1.5 trillion degree.

Binance and Kraken woes

The crypto trade had a number of essential occasions this week. It began with a serious lawsuit introduced by the Securities and Trade Fee (SEC) towards Kraken, one of many greatest crypto exchanges on the planet.

The SEC alleged that the corporate operates as an unregistered securities trade, placing hundreds of thousands of shoppers in danger. It additionally operates illegally, offering dealer, supplier, and clearinghouse companies. Additional, the trade doesn’t do correct document preserving, and that it commingles prospects funds.

A day later, the SEC reached a settlement with Binance, the largest trade on the planet. As a part of the settlement, ChangPeng Zhao, the corporate’s founder and CEO, agreed to step down and pay a $50 million positive. The trade can even pay over $4 billion in fines.

Subsequently, the value motion of cryptocurrencies is an indication that buyers have welcomed the brand new actions on Binance. Moreover, regulatory challenges have been hanging across the crypto trade prior to now few months. In a press release, analysts at JPMorgan mentioned:

“Its market share loss needs to be contained going ahead and maybe partly reverse as soon as the implications from the settlement on Binance’s operations and enterprise mannequin grow to be extra clear.”

Memeinator token sale doing nicely

In the meantime, Memeinator has continued doing nicely because the token sale good points momentum. Based on its web site, the builders have now raised over $1.49 billion from buyers as demand rises. 

Information additionally reveals that over 300k folks have entered its promotional marketing campaign, the place the winner will get a ticket to go to area within the coming months. A Virgin Galactic journey is claimed to price over $200k.

Memeinator is aiming to make the most of two essential themes. First, it’s a meme coin that seeks to outperform different meme cash like MemeCoin (MEME), Pepe, and Bonk. All these tokens have surged lately, creating millionaires alongside the way in which.

Second, there’s the theme of synthetic intelligence (AI), which is booming after the success of ChatGPT, Bard AI,  and Anthropic. Not too long ago, AI tokens like SingularityNET (AGIX) and Fetch AI have been a few of the finest performers within the trade. Subsequently, there’s a chance that MMTR token will do nicely when it’s listed. You should buy the MMTR token right here.

There are dangers for investing in Memeinator. As we now have seen with different tokens, there’s a danger that its worth won’t rise after being listed. There’s additionally the chance of pump and dumps. Subsequently, it’s best to solely make investments funds that you could afford to lose.