The R Roundup: It’s A $PEPE World & We Live In It — Issue #87
The cryptocurrency industry has seen the launch of meme coins inspired by Dogecoin and Shiba Inu, such as PEPE and FLOKI.
Binance has announced that $PEPE will be listed on their exchange starting May 5, 2023, with trading pairs for PEPE/USDT and PEPE/TUSD.
Binance plans to include FLOKI and PEPE as new assets that can be borrowed through Isolated Margins. PEPE’s market cap has hit $1 billion, and its price has since increased, continuing to break ATH’s.
Pepe has been in the industry spotlight for its speed to the climb to the top; however, with Binance warning users for the tokens lack of utility, how long will this rise last?
Blur Welcomes Blend 🎨
Blur, a leading NFT marketplace, has launched its latest product, Blend, which allows users to utilize non-fungible assets as loan collateral and earn interest by lending ETH backed by digital tokens.
The platform will charge no fees for the first 180 days after launch.
Following this cooling-off period, Blur’s DAO will conclude which changes occur on the platform. As quoted by the team, Blend enables 10x higher yield opportunities than current DeFi protocols and unlocks greater liquidity for NFTs.
Coinbase Launches International Crypto Exchange 🌎
Coinbase is working to help update the financial system by building trusted products that expand the utility and adoption of crypto.
With the recent approval of their regulatory license from the Bermuda Monetary Authority, Coinbase International Exchange has been launched to enable institutional users based in eligible jurisdictions outside of the US to trade perpetual futures.
Coinbase International Exchange has listed BTC and ETH perpetual futures contracts, offering up to 5x leverage initially at launch.
Coinbase states that it's committed to the US, but countries around the world are moving forward with responsible crypto-forward regulatory frameworks. With a clear indication that the US should take a similar approach instead of regulation by enforcement.
White House Calls For 30% On Crypto Mining🇺🇸
The White House proposed a 30% tax on electricity used for Bitcoin mining, titled the Digital Asset Mining Energy (DAME) Excise Tax.
This tax plan is set to be introduced over the course of the next three years, taking aim at crypto mining’s energy consumption and environmental impact.
A press release from the Biden Admininstration took aim at the benefits of the industry, noting that crypto mining does not generate the local and national economic benefits typically associated with businesses using similar amounts of energy.
Various crypto mining protection bills have been passed in a range of US states, creating a situation of conflicting perspectives hence the call for regulatory clarity.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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