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Bitcoin, the world’s largest cryptocurrency, experienced a sudden decline in one day, losing approximately 7 percent of its value and falling as low as $41,000. This comes after Matrixport suggested Bitcoin ETFs would be rejected.
A report was published on the website of the cryptocurrency financial services company Matrixport, stating that the US Securities and Exchange Commission (SEC) will not accept the spot Bitcoin ETF that the market has been waiting for with great hopes. The report understandably caused concern in the market. Because ETF news was shown as one of the driving forces of the increase seen in Bitcoin in recent months. In this way, the BTC price could rise above 44 thousand dollars.
Matrixport analysts cited SEC chairman Gensler’s comments about the crypto market as the reason for the potential rejection in January. “There are a lot of scams and bad actors in the crypto space,” Gensler told CNBC last month.
On the other hand, James Gorman, chairman of investment firm Morgan Stanley, also offered a cautious perspective on Bitcoin in a recent interview with Bloomberg. He stated that cryptocurrency cannot serve as a fundamental investment and has never perceived it as a means of accumulating value.
The crypto industry has been vying for a spot Bitcoin ETF for years. A total of 14 asset management companies hope to win SEC approval this month, including BlackRock, Fidelity, Franklin Templeton, Valkyrie and VanEck.
This leads to volatility as the decision day for ETFs approaches. Investors who want to turn this volatility into opportunity continue to look for new coins. There are signs of growth potential for many top meme tokens in 2024. One of these tokens is Meme Kombat (MK).
Meme Kombat has already raised more than $5.9 million in pre-sale, successfully crossing a major threshold. Let’s take a closer look at the details of the project for investors who want to buy Meme Kombat tokens.
Meme Kombat (MK) – Meme Coin Expected to Become the Crypto Gem of 2024
Meme coins have the potential to create great opportunities for crypto-loving investors. Meme Kombat is one of the meme coins that is becoming more popular day by day. Pre-sale excitement is growing and the ICO has been visited by many curious whales lately.
We know that crypto whales are purchasing large amounts of tokens. Meme Kombat, XIn his statement, he shared the major purchases that have been made in recent days. One of the whales purchased $83,000 worth of MK tokens. Another was a $20,000 purchase.
The project offers its users an exciting battle game made by meme characters. The arena of the project appears as a valuable place for the battle of meme characters. But players can not only watch, but also bet on the outcome of these battles.
Meme Kombat therefore appears as a meme coin that tries to benefit its users by covering the gaming and betting sectors, two of the fastest growing sectors.
This is what distinguishes it from other meme coins.
The project, audited by Coinsult, also reminds investors who want to buy Meme Kombat tokens that it attaches importance to the security of users.
A Project Addressing Meme Coin Lovers
Meme Kombat’s secret to success may be its ability to appeal to meme coin fans by combining famous meme characters with the theme of gaming and betting. Token holders will be able to see their favorite meme character in the Meme Kombat Battle Arena. The first season of the project was explained in detail. In this season, you can battle 11 meme characters: Milady, Baby Doge, Doge, Floki, Kishu, Mong, Pepe, Pepe2, Shiba, Sponge and Wojak.
Of course, that’s not all, because the creators of the game announced the second season long ago. The ecosystem will become even richer with the second season. More game elements and characters will be included in the ecosystem.
Additionally, Meme Kombat’s early investors can benefit from a 160 percent annual interest yield (APY). Of course, you don’t need to wait for the platform to open. You can invest in the pre-sale and stake your token immediately.
Users can dive into new entertainment waters when the team opens the battle and betting option. The fact that ¾ of the MK coins sold have already been staked heralds a decrease in selling pressure. However, there is one rule to consider. Pledgers must hold their coins for at least seven days after the token is launched.
The team went out of its way to be community-focused while preparing the tokenomics of the project. 50 percent of the token supply is available to investors who want to purchase Meme Kombat tokens in the pre-sale.
Conclusion
It looks like the meme coin craze will continue this year too. Ethereum-based Meme Kombat is quickly approaching $6 million in presales. Meme Kombat has great potential. The utility nature of the token pushes it forward, offering an innovative gaming mechanism. There is even the possibility of earning passive income from staking. With all these features, MK has a very high chance of becoming the crypto gem of 2024.
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