MCADE tops $0.027 as analysts turn bullish on First Republic Bank saga

2023-5-1 16:45

Key takeaways

MCADE has topped the $0.027 mark as the cryptocurrency market begins to recover.

First Republic Bank has been acquired by JPMorgan Chase as the banking woes in the United States banking sector continue.

The banking woes have boosted Bitcoin’s position as a safe haven asset. 

Analysts are becoming bullish on Bitcoin and the broader cryptocurrency market thanks to the recent banking woes in the United States. MCADE is up by more than 2% in the last 24 hours and could rally higher as the broader crypto market looks to embark on a recovery.

JPMorgan acquires First Republic Bank

JPMorgan Chase, one of the leading banks in the United States, has acquired the troubled First Republic Bank. 

This latest cryptocurrency news comes after the First Republic Bank was seized by the California Department of Financial Protection and Innovation.

JPMorgan Chase will assume all assets of the embattled bank ding uninsured deposits. First Republic Bank currently has $229.1 billion in assets and $103.9 billion in deposits.

Following the acquisition, 84 locations of First Republic Bank in eight states will now reopen as JPMorgan Chase. Furthermore, all depositors of the troubled bank will become a part of JPMorgan and have access to their total deposits insured by FDIC. 

First Republic Bank’s collapse is the third major one in the United States since the start of the year, a cause for concern amongst investors in the country, 

Crypto experts are predicting a bullish run for Bitcoin

The recent banking woes have been favourable to the cryptocurrency sector. According to Standard Chartered analyst Geoff Kendrick, the recent events could see Bitcoin rally to $100,000 by 2024.

In a note following First Republic Bank’s woes, Kendrick said;

“We see the potential for Bitcoin (BTC) to reach the USD 100,000 level by end-2024, as we believe the much-touted ‘crypto winter’ is finally over. The current stress in the traditional banking sector is highly conducive to BTC outperformance – and validates the original premise for Bitcoin as a decentralised, trustless and scarce digital asset,”

Bloomberg Intelligence’s Jamie Douglas Coutts also pointed out that Bitcoin could be on course for the longest streak of monthly gains since 2021. He stipulated that if 1% of global bond-market value moved toward Bitcoin, that would take BTC’s price to $185,000.

The FOMC meeting this week could see the Federal Reserve increase interest rates by 25 basis points as it continues to fight against inflation.

MCADE could rally higher in line with Bitcoin

The continued banking crisis in the United States could boost cryptocurrencies like Bitcoin, Ether, and Metacade in the short and medium term. More investors could see assets like BTC and MCADE as safe havens compared to the traditional financial ecosystem.

In addition to that, if the Federal Reserve adopts a more dovish approach to its interest rate hikes later this week, Bitcoin and other cryptocurrencies could greatly benefit.

MCADE is currently trading at $0.0275 per coin and is close to the $0.034 all-time high price it set roughly two weeks ago. 

With MCADE set to list on the MEXC cryptocurrency exchange in a few days, the token will become available to millions of people globally, and this could boost its value in the near term. 

MCADE listed on Uniswap and BitMart last month and is set to list on MEXC this week. The token could also launch on several other cryptocurrency exchanges over the next few weeks and months. 

Is Metacade a good investment?

MCADE could be one of the tokens to watch out for as an investor in the cryptocurrency space. The token has been performing well since the pre-sale event was concluded, and Metacade raised $16 million.

As the Metacade team works on its GameFi platform and also listing on other exchanges, MCADE’s value could experience a massive surge over the next few weeks and months.

Experts believe that the GameFi industry could experience a surge in value over the next few years, and Metacade could be one of the biggest winners. 

The post MCADE tops $0.027 as analysts turn bullish on First Republic Bank saga appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Republic Protocol (REN) на Currencies.ru

$ 0.0643918 (+1.72%)
Объем 24H $3.337m
Изменеия 24h: -1.00 %, 7d: -24.78 %
Cегодня L: $0.0627251 - H: $0.0643918
Капитализация $51.23m Rank 99999
Доступно / Всего 795.595m REN

republic banking mcade bank 027 continue acquired

republic banking → Результатов: 19


JPMorgan to takeover First Republic bank

Investment banking giant JPMorgan Chase will assume over $330 billion worth of deposits and assets of struggling First Republic Bank. According to a May 1 statement, the Federal Deposit Insurance Corporation (FDIC) said it was appointed as the receiver of the First Republic Bank after it was closed by California’s Department of Financial Protection and […] The post JPMorgan to takeover First Republic bank appeared first on CryptoSlate.

2023-5-1 13:18


Фото:

Crypto has a wild day as $300 million liquidated: a story that won’t change soon

Key Takeaways Bitcoin led markets on a ride Wednesday, surging from $28K to $30K before shedding 7% in an hour Surge had come following optimism for liquidity injection from Fed, as banking issues resurfaced at First Republic and shares cratered 50%  Markets are too thin and prone to these large price swings, writes our Head […] The post Crypto has a wild day as $300 million liquidated: a story that won’t change soon appeared first on CoinJournal.

2023-4-27 15:34


MacroSlate Weekly: Bitcoin shines through banking failures, bailouts

Macro Highlights U.S inflation is too high for rate relief but mostly in line with expectations ECB raised a further 50bps taking their deposit facility rate to 3% Silicon Valley Bank files for chapter 11 bankruptcy Credit Suisse and First Republic Bank continue to be provided with liquidity Fed initiated stealth QE as balance sheet grows […] The post MacroSlate Weekly: Bitcoin shines through banking failures, bailouts appeared first on CryptoSlate.

2023-3-20 23:21


Фото:

Largest Bank in Belarus Launches Crypto Exchange Service

Belarusbank, a state-owned bank and the largest financial institution in the Republic of Belarus is the latest bank to delve into the world of cryptocurrency. Belarusian Banking Giant Floats Crypto Exchange Platform According to PrimePress on Thursday (November 12, 2020), Belarusbank, in collaboration with the crypto exchange platform White Bird, is offering cryptocurrency trading servicesRead MoreRead More.

2020-11-15 12:00


Фото:

India’s largest Bitcoin exchange moves to Malta to escape regulation

Zebpay, once India’s largest cryptocurrency exchange, is moving operations to Malta after having shut shop on its home turf last month. The exchange, which currently supports 20 cryptocurrencies, will serve users in 20 countries across Europe: Malta Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Finland France Germany Greece Hungary Ireland Italy Latvia Netherlands Poland Portugal Slovenia Sweden Unfortunately, the exchange won’t be accessible to users in India.

2018-10-18 12:42