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Launch of the $MAGAA token on Ethereum

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Launch of the $MAGAA token on Ethereum

MAGAA

MAGAA

Record success in Twitter spaces with Donald Trump Jr., Dan Bilzerian, Andrew Tate and many others

Washington, DC, June 14, 2024 (GLOBE NEWSWIRE) — MAGAA is a PolitiFi memecoin launched on the Ethereum blockchain, aiming to represent political movements and ideals in the digital age. Backed by a team of experienced marketers and political insiders, MAGAA seeks to build a cult following around shared belief systems and generate significant market impact through strategic influencer engagement and media partnerships.

To mark and celebrate Donald Trump’s birthday, 10 million $MAGAA tokens are being sent to its ERC-20 portfolio, which is currently valued at US$15.3 million in crypto assets. The symbolic $10 million MAGAA donation is valued at approximately US$360,000, making it the fifth most valuable asset in Trump’s public portfolio.

A record Twitter Spaces event

The culmination of MAGAA’s launch was a groundbreaking Twitter Spaces event that attracted an incredible 273,000 listeners, making it one of the largest in history. The event focused on the impact of memecoins in politics, showcasing the power of these digital assets to shape political discourse and secure financial freedom.

Influential people join the conversation

Personalities such as:

participated, bringing a wide range of perspectives to the discussion.

One of the most notable moments came when a commenter asked, “What do you think about political coinage, like MAGAA, being used as a vehicle to address conservative issues?” Donald Trump Jr. responded: “I love what it (political coins) does to create community, create momentum and movement – ​​it creates another avenue for people to express themselves.”

Dan Bilzerian added: “Memecoins are more of a movement, going against the system,” highlighting the rebellious spirit that often fuels these digital currencies.

Martin Shkreli, known for his controversial past and prison sentence, shared his thoughts on the broader implications of cryptocurrency, saying: “Crypto is a way to escape confiscatory government. Every lawyer told me, “It’s not because of what you did, Martin, it’s because you wouldn’t kiss the ring.” People don’t like Trump because he won’t kiss the ring either,” Shkreli added, “If the government comes to you and says, ‘I want all your money,’ crypto adds a valve of security.

The story continues

Explosive financial success

Following the Twitter Spaces event, $MAGAA’s market capitalization increased from $4 million to an impressive $84 million. This explosive growth highlights the strong support and confidence in the token’s mission and potential. The influential Reddit community, WallStreetBets, has also joined the $MAGAA movement, further amplifying the token’s reach and impact.

The power of Memecoins

The success of $MAGAA illustrates the relevance and power of memecoins and their communities to shape political discourse and achieve financial freedom. Memecoins like $MAGAA are not just cryptocurrencies; they are movements that unite people around common ideals and create momentum for change.

Quote from the MAGAA founding team

“We are really excited about these partnerships and relationships with these massive influencers. We are donating a large amount of money to conservative movements, and we will be making an extremely large donation to President Trump’s Ethereum wallet to show our alignment. There are announcements Massive events are coming, and our community couldn’t be more passionate and excited.”

For more information, visit https://magaa.io/,

Follow on Twitter at https://x.com/MAGAAtoken,

and join the Telegram chat room at https://t.me/MAGAAtoken.

About MAGAA
MAGAA is a revolutionary memecoin launched on the Ethereum blockchain, aiming to raise awareness of conservative ideals within crypto. Backed by a team of experienced marketers and founders, $MAGAA seeks to build a cult following around shared conservative belief systems and drive significant market impact through strategic influencer engagement and media partnerships.

Media contact: contact (at) magaa.io

Disclaimer: The information provided in this release is for informational purposes only and does not constitute financial advice. Investments in cryptocurrency are subject to market risks and individuals should conduct their own research before making any investment decisions.

CONTACT: Xenia Von Wedel President Transform Group xenia (at) transformgroup.com



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We are the editorial team of Chain Feed Staff, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Chain Feed Staff, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Ethereum

QCP sees Ethereum as a safe bet amid Bitcoin stagnation

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QCP, a leading trading firm, has shared key observations on the cryptocurrency market. Bitcoin’s struggle to surpass the $70,000 mark has led QCP to predict Selling pressure is still strong, with BTC likely to remain in a tight trading range. In the meantime, Ethereum (ETH) is seen as a more promising investment, with potential gains as ETH could catch up to BTC, thanks to decreasing ETHE outflows.

Read on to find out how you can benefit from it.

Bitcoin’s Struggle: The $70,000 Barrier

For the sixth time in a row, BTC has failed to break above the $70,000 mark. Bitcoin is at $66,048 after a sharp decline. Many investors sold Bitcoin to capitalize on the rising values, which caused a dramatic drop. The market is becoming increasingly skeptical about Bitcoin’s rise, with some investors lowering their expectations.

Despite the continued sell-off from Mt. Gox and the US government, the ETF market remains bullish. There is a notable trend in favor of Ethereum (ETH) ETFs as major bulls have started investing in ETFs, indicating a bullish sentiment for ETH.

QCP Telegram Update UnderlinesIncreased market volatility. The NASDAQ has fallen 10% from its peak, led by a pullback in major technology stocks. Currency carry trades are being unwound and the VIX, a measure of market volatility, has jumped to 19.50.

The main factors driving this uncertainty are Value at Risk (VaR) shocks, high stock market valuations and global risk aversion sentiment. Commodities such as oil and copper have also declined on fears of an economic slowdown.

Additionally, QCP anticipates increased market volatility ahead of the upcoming FOMC meeting, highlighting the importance of the Federal Reserve’s statement and Jerome Powell’s subsequent press conference.

A glimmer of hope

QCP notes a positive development in the crypto space with an inflow of $33.7 million into ETH spot ETFs, which is giving a much-needed boost to ETH prices. However, they anticipate continued outflows of ETHE in the coming weeks. The recent Silk Road BTC moves by the US government have added to the market uncertainty.

QCP suggests a strategic trade involving BTC, which will likely remain in its current range, while ETH offers a more promising opportunity. They propose a trade targeting a $4,000-$4,500 range for ETH, which could generate a 5.5x return by August 30, 2024.

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Ethereum

Ethereum Whale Resurfaces After 9 Years, Moves 1,111 ETH Worth $3.7 Million

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Ethereum records $17.9 billion in spot volume despite 3% drop

An Ethereum ICO participant has emerged from nearly a decade of inactivity.

Lookonchain, a smart on-chain money tracking tool, revealed On X, this long-inactive participant recently transferred 1,111 ETH, worth approximately $3.7 million, to a new wallet. This significant move marks a notable on-chain movement, given the participant’s prolonged dormancy.

The Ethereum account in question, identified as 0xE727E67E…B02B5bFC6, received 2,000 ETH on the Genesis block over 9 years ago.

Screenshot 2024 07 30 at 171307

This initial allocation took place during the Ethereum ICOwhere the participant invested in ETH at around $0.31 per coin. The initial investment, worth around $620 at the time, has now grown to millions of dollars.

Recent Transactions and Movements

The inactive account became active again with several notable output transactions. Specifically, the account transferred 1,000 ETH, 100 ETH, 10 ETH, 1 ETH, and 1 more ETH to address 0x7C21775C…2E9dCaE28 within a few minutes. Additionally, it moved 1 ETH to 0x2aa31476…f5aaCE9B.

Additionally, in the latest round of transactions, the address transferred 737,995 ETH, 50 ETH, and 100 ETH, for a total of 887,995 ETH. These recent activities highlight a significant movement of funds, sparking interest and speculation in the crypto community.

Why are whales reactivating?

It is also evident that apart from 0xE727E67E…B02B5bFC6, other previously dormant Ethereum whales are waking up with significant transfers.

In May, another dormant Ethereum whale made headlines when it staked 4,032 ETHvalued at $7.4 million, after more than two years of inactivity. This whale initially acquired 60,000 ETH during the Genesis block of Ethereum’s mainnet in 2015.

At the time, this activity could have been related to Ethereum’s upgrade known as “Shanghai,” which improved the network’s scalability and performance. This whale likely intended to capitalize on the price surge that occurred after the upgrade.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ethereum

Only Bitcoin and Ethereum are viable for ETFs in the near future

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Only Bitcoin and Ethereum are viable for ETFs in the near future

BlackRock: Only Bitcoin and Ethereum Are Viable for ETFs in the Near Future

Bitcoin and Ethereum will be the only cryptocurrencies traded via ETFs in the near future, according to Samara Cohen, chief investment officer of ETFs and indices at BlackRock, the world’s largest asset manager.

In an interview with Bloomberg TV, Cohen explained that while Bitcoin and Ethereum have met BlackRock’s rigorous criteria for exchange-traded funds (ETFs), no other digital asset currently comes close. “We’re really looking at the investability to see what meets the criteria, what meets the criteria that we want to achieve in an ETF,” Cohen said. “Both in terms of the investability and from what we’re hearing from our clients, Bitcoin and Ethereum definitely meet those criteria, but it’s going to be a while before we see anything else.”

Cohen noted that beyond the technical challenges of launching new ETFs, the demand for other crypto ETFs, particularly Solana, is not there yet. While Solana is being touted as the next potential ETF candidate, Cohen noted that the market appetite remains lacking.

BlackRock’s interest in Bitcoin and Ethereum ETFs comes after the successful launch of Ethereum ETFs last week, which saw weekly trading volume for the crypto fund soar to $14.8 billion, the highest level since May. The success has fueled speculation about the next possible ETF, with Solana frequently mentioned as a contender.

Solana, known as a faster and cheaper alternative to Ethereum, has been the subject of two separate ETF filings in the US by VanEck and 21Shares. However, the lack of CME Solana futures, unlike Bitcoin and Ethereum, is a significant hurdle for SEC approval of a Solana ETF.

Despite these challenges, some fund managers remain optimistic about Solana’s potential. Franklin Templeton recently described Solana as an “exciting and major development that we believe will drive the crypto space forward.” Solana currently accounts for about 3% of the overall cryptocurrency market value, with a market cap of $82 billion, according to data from CoinGecko.

Meanwhile, Bitcoin investors continue to show strong support, as evidenced by substantial inflows into BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT). On July 22, IBIT reported inflows of $526.7 million, the highest single-day total since March. This impressive haul stands in stark contrast to the collective inflow of just $6.9 million seen across the remaining 10 Bitcoin ETFs, according to data from Farside Investors. The surge in IBIT inflows coincides with Bitcoin’s significant $68,000 level, just 8% off its all-time high of $73,000.

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Ethereum

Ethereum Posts First Consecutive Monthly Losses Since August 2023 on New ETFs

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Ethereum sees first monthly consecutive losses since August 2023 amid new ETFs

Available exclusively via

Bitcoin ETF vs Ethereum: A Detailed Comparison of IBIT and ETHA

Andjela Radmilac · 3 days ago

CryptoSlate’s latest market report takes an in-depth look at the technical and practical differences between IBIT and BlackRock’s ETHA to explain how these products work.

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