Cryptocurrency
As Starknet Lists on Binance, Could Meme Kombat Follow After Hitting $10m Presale Target?
Yesterday, Starknet (STRK), the layer-2 scaling solution for Ethereum, was listed on Binance and immediately hit a $2.4 billion market cap.
As one of the most talked-about Ethereum scaling solutions, Starknet’s listing signals the growing adoption of layer-2 technologies.
With meme coins also driving interest in the market, could Meme Kombat (MK) be next to attain a Binance listing after hitting its $10m presale target?
Starknet Trading Volumes Explode Past $1.6bn After Binance Debut
Starknet’s listing on Binance featured multiple spot trading pairs, including against USDT, BTC, FDUSD, and TRY.
Deposits opened at 12:00 UTC, with withdrawals and trading beginning at 13:00 UTC.
Almost immediately, trading volumes for STRK rocketed and have hit $1.6 billion since the token went live.
Starknet’s developers used various methods for token distribution, including airdrops and eligibility programs.
The Starknet Foundation distributed over 700 million STRK tokens out of 900 million set aside, with recipients including those who helped secure Ethereum and contribute to Starknet’s open-source ecosystem.
Additional community rebates and initiatives are planned going forward.
However, due to regulation, distributions of STRK were not available to those based in the US.
With solid tokenomics and strong community backing, Starknet seems poised for further growth.
STRK’s price has dipped 47% since yesterday’s peak, yet given that the token is still less than 24 hours old, volatility is to be expected as the market finds its footing.
The Features Behind Starknet’s Goal of Becoming the Go-To Ethereum Scaling Solution
Starknet operates as a validity rollup, processing Ethereum transactions off-chain before submitting cryptographic proofs to the mainnet.
This reduces congestion on Ethereum, enabling faster and cheaper transactions.
Starknet uses “STARK proofs” to aid with this setup, which provide solid long-term security compared to other protocols.
Additionally, Starknet introduces Cairo, a purpose-built programming language for writing STARK-proving computations more easily.
Unlike some layer-2 scaling solutions, Starknet remains fully permissionless and decentralized.
This gives developers flexibility similar to building directly on the Ethereum mainnet while still benefiting from Starknet’s massive scaling capabilities.
With an ability to handle 500 transactions per second (TPS) currently and the goal of reaching millions per second, Starknet aims to provide the scale needed to support mainstream use of dApps and digital services.
If Starknet can leverage the ongoing hype around its Binance launch, there’s a belief among some crypto community members that it could be the go-to scaling solution for Ethereum.
Meme Kombat Hits $10m Funding Target, But Will MK List on Binance Next?
With Starknet listed on Binance, attention now turns to other emerging projects that could follow a similar trajectory.
One potential candidate is Meme Kombat, which has taken the crypto world by storm with its unique combination of memes, staking, and gambling.
Having reached its $10 million presale funding goal, the native MK token seems primed for a major exchange listing soon.
Unlike many meme coins, Meme Kombat distinguishes itself through innovative features like AI-powered battles between popular meme characters and generous staking rewards up to 99% APY.
This combination of game elements and passive income is designed to create a thriving community and deliver long-term success.
Additionally, Meme Kombat has already attained endorsements from leading crypto YouTubers and analysts, suggesting strong faith in its potential.
For example, YouTuber Michael Wrubel told his 310,000 subscribers that it could be the “next 100x gaming meme crypto.”
With Meme Kombat’s presale funding target achieved, interested investors have one final chance to buy MK tokens for $0.279 before the exchange listings occur.
There’s now a countdown timer on the official Meme Kombat website, showing the number of days remaining before MK trading goes live.
No specific exchanges have yet been announced for the initial listing.
However, early investors in the Meme Kombat Telegram channel have begun to speculate that Binance, or another Tier-1 platform, could be lined up to support the first official MK trading pair.
With just 13 days to go before MK goes live, all eyes are on this trending token to see how it performs on the open market.
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Cryptocurrency
BTC Price Rises Above $105K After Fed Decision, LINK Up 7% Daily (Market Watch)
Bitcoin’s price experienced some expected volatility after yesterday’s FOMC meeting but has headed north and now sits above $105,000.
Most altcoins are in a similar position, with ETH increasing past $3,200 and SOL rising to $240.
BTC Above $105K
The primary cryptocurrency had a quiet weekend in which its price stood mostly in a tight range between $104,000 and $105,000. The landscape changed on Monday, similar to the previous one when the bears took charge of the market and initiated a substantial leg down.
Within hours during the morning Asian trading session, BTC plunged by several grand to a multi-week low of under $98,000. Nevertheless, the cryptocurrency didn’t stay there for long and went back into six-digit territory by the end of the day.
The next couple of days were a lot less eventful, aside from another brief decline toward $100,000. The market anticipated the Fed’s decision on Wednesday evening, and bitcoin stood still. Once the expected decision of no interest rate cuts was announced, BTC headed south by over a grand from $103,000 to $101,500.
However, it bounced off and has added roughly $4,000 since then to trade at $105,500 as of press time. Its market capitalization has neared $2.1 trillion on CG, while its dominance over the alts is well above 56%.
LINK Jumps 7%
Most alternative coins have followed BTC on the way up. Ethereum defended the $3,000 level and now sits above $3,200 following a 3% daily increase. Similar price jumps are evident from SOL, ADA, and TRX.
Chainlink has gained 6.5% on the day and now trades close to $25. Even more impressive gains come from the likes of SIU, LTC, HYPE, and ONDO.
The cumulative market cap of all crypto assets had added more than $100 billion in a day. As a result, the metric sits above $3.710 trillion on CG.
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Cryptocurrency charts by TradingView.
Cryptocurrency
How High Could Bitcoin Go in This Bull Cycle? Analyst Weighs In
TL;DR
- Analyst Ali Martinez suggests Bitcoin (BTC) has more room for growth during this bull run before a potential cycle shift.
- Essential factors like reduced MVRV and negative exchange netflows support the thesis of further gains in the near future.
The Possible Cycle Top
The primary cryptocurrency has been on an evident uptrend in the past several months, charting substantial gains after Donald Trump’s win in the US presidential elections.
Recall that Bitcoin (BTC) was trading at less than $70K prior to the voting, whereas a month later, it surpassed the psychological level of $100K for the first time in its existence. Despite the volatility, the solid performance continued, and on January 20 (hours before Trump’s inauguration), the asset tapped a new all-time high of almost $110,000. The next 10 days offered more turbulence before BTC stabilized at its current $105,000 (per CoinGecko’s data).
According to numerous industry participants, the valuation has yet to reach unseen peaks during this bull cycle. The popular X user Ali Martinez recently suggested that BTC could soar to as high as $184,000 before entering a bearish mode. He based his prediction on the assumption that cycle shifts typically occur once the price surpasses 2.4x the 200-day Simple Moving Average (which is set at the depicted mark).
Cycle shifts for #Bitcoin $BTC typically happen when it surpasses 2.4x the 200-day SMA. That key level currently stands at $184,600! pic.twitter.com/kbLpJ5AQd4
— Ali (@ali_charts) January 30, 2025
Many factors signal that BTC might indeed flourish in the following months. One of those includes the asset’s historical performance in February. As CryptoPotato reported, 8 of the last 12 Februaries saw BTC jumping by double digits. It is important to note that next month is a post-halving February, and all previous ones have resulted in impressive spikes.
Bitcoin’s Market Value to Realized Value (MVRV) and exchange netflow are also worth mentioning. The former metric has been hovering below the healthy level of 2.5 over the last several days, suggesting that the asset might have shifted toward undervalued territory.
BTC’s exchange netflow has been predominantly negative in the past week, with outflows surpassing inflows. This could be interpreted as a transition from centralized platforms toward self-custody methods, which reduces the immediate selling pressure.
Additional Bullish Predictions
Martinez is not the only one envisioning further pumps for BTC in the near future. X user Captain Faibik observed the formation of a “broadening wedge pattern” to set a $120,000 target potentially reached in February.
Michael van de Poppe and Jelle were also bullish. The former thinks a new ATH may occur in the coming weeks, while the latter believes $110K is “the final hurdle” before “a new leg of price discovery awaits.”
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Cryptocurrency
Fed Chair Calls for Crypto Regulation, Warns Banks Against ‘Excess Risk Aversion’
“I do think it would be helpful if there were a greater regulatory apparatus around crypto,” the US central bank chair said at the Federal Open Market Committee press conference on Jan. 29. He added that it is something Congress and the Fed have been “working on quite a lot.”
“We’ve actually spent a lot of time, you know, with House Financial Services, working together with them on various things, and I think that would be a very constructive thing for Congress to do,” he said.
The comments came as the Federal Reserve maintained interest rates at 4.25% to 4.5% following last week’s CPI data that showed inflation was not as high as many anticipated.
Don’t Debank Crypto Customers
Powell also said the central bank was “not against innovation” with regard to cryptocurrencies.
Speaking about banking restrictions, he added, “We certainly don’t want to take actions that would cause banks to, you know, terminate customers who are perfectly legal just because of excess risk aversion, maybe related to regulation and supervision.”
Powell’s remarks at the first FOMC meeting under the Trump administration came as concerns about so-called “debanking” efforts have risen to the highest ranks of government.
“Banks are perfectly able to serve crypto customers, as long as they understand and can manage the risks, and it’s safe and sound,” Powell said before adding, “The threshold has been a little higher for banks engaging in crypto activities, and that’s because they’re so new.”
He noted that individual investors needed better protection as the risks may not be fully understood. He also compared crypto to stocks and mutual funds, saying that similar consumer safeguards should apply.
No Disagreements With Trump
The central bank chair has avoided responding directly to comments made or actions taken by Donald Trump in recent weeks. He said there has been “no contact” with the new president, noting that disagreements would undermine the Fed’s credibility.
“We stand ready to take appropriate action to support the smooth transmission of monetary policy, including adjusting the details of our approach for reducing the size of our balance sheet in light of economic and financial developments,” he said.
More economic data is expected this week, with fourth-quarter GDP Growth Annualized advance estimates due on Thursday and December’s Core Personal Consumption Expenditures (PCE) report due on Friday.
Crypto markets were up marginally during the Thursday morning Asian trading session, with Bitcoin leading the pack and reclaiming $105,000.
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