1 days ago
Elon Loves MAGA could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did. Elon Loves MAGA (ELOMAGA), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days. This is because ELOMAGA is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings. Currently, Elon Loves MAGA can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Elon Loves MAGA could become the next viral memecoin. Elon Loves MAGA launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Elon Loves MAGA on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Elon Loves MAGA by entering its contract address – 6mRLPcgWXUBYNfXouCxBoyjFzNjww9HNVFpBJkrqmFeE – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance, and many others. Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like ELOMAGA. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
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FTX EU Sold to Backpack Exchange, Plans Regulated Crypto Derivatives Push Across Europe
FTX EU, the European arm of Sam Bankman Fried’s now-bankrupt cryptocurrency trading empire, has been sold to Backpack Exchange , a crypto trading company founded by former Alameda Research and FTX employees. FTX EU, which held a MiFID II-license under the Cyprus Securities and Exchange Commission (CySEC), cost Backpack $32.7 million, the exchange said. Backpack’s new European arm will offer a full suite of crypto derivatives throughout the EU, starting out by capitalizing on its position as the only regulated perpetual futures provider across Europe, according to Armani Ferrante, CEO of Backpack Exchange. A number of crypto trading firms have applied for a MiFID license, which allows firms to also offer crypto-asset services under Europe’s new Markets in Crypto Assets (MiCA) regime, once a notification has been provided to the relevant competent national authority. Currently, Bitstamp and Coinbase have received their MiFID II licenses, while D2X , based in the Netherlands, has also received a license and plans to deliver USD-denominated futures and options early this year. Other new entrants also aim to shift the crypto derivatives market dominance away from the likes of Panama-based centralized exchange Deribit. Backpack’s Ferrante said the firm’s MiCA notification has been submitted and he expects to go live in the first quarter of 2025. “Even though a few firms have been able to acquire approval for a limited form of a derivatives license, we’re not aware of any players that currently offer perpetuals and are live in the EU, including Coinbase and Bitstamp,” Ferrante said via email. “Once we return FTX EU customers` funds, we’re excited to begin serving a regulated perpetual futures product as a priority.” A full suite of products is being worked on, Ferrante added, although some of these may not roll out in Q1. Backpack, whose founders have contributed to the Solana ecosystem and established a successful wallet and NFT business, raised $17 million in funding last year. CryptoIntelligence
