The crypto market has had its share of opposition, especially on the legal front. However, amidst the restriction, there are also rare instances when crypto companies are met with support and encouragement.
Recently Coinbase executives visited UAE’s Minister of Economy to discuss the opening of a new hub for the exchange in the country. This comes at a time when the market is recovering from a dip and making significant gains. Binance Coin (BNB) and Cosmos (ATOM) have been at the helm of this trend, while the up-and-coming Ape Brigade (APES) is trying to follow in their footsteps, after launching soon.
Coinbase Considers Starting Hub in UAE
Coinbase CEO Brian Armstrong and key executives from the exchange are exploring the potential for the United Arab Emirates (UAE) to be a "strategic hub" for the firm. According to Coinbase, it is working with regulators in the Abu Dhabi Global Market and Dubai's Virtual Assets Regulatory Authority to expand into the region.
Armstrong, speaking at the Dubai Fintech Summit on May 8, highlighted the lack of regulatory clarity in the United States and suggested the UAE could serve as an international hub to serve parts of Africa and Asia.
The move follows the launch of Coinbase's global derivatives platform amid concerns over regulatory clarity for digital assets in the US. The UAE has been making strides in opening up opportunities for crypto firms, and Dubai recently established a legal framework for cryptocurrencies and set up the Virtual Assets Regulatory Authority in March 2022.
After having a bearish run in the past week, Binance Coin (BNB) seems to be making a recovery. The coin has stabilized near the $315 mark. The bulls seem to be taking over, and analyst site Cyptopolitan even predicts that the trend is set to reverse before the current trading session ends. At the time of writing, Binance Coin was trading at $314.77.
Neutron Launch Pushes Up Cosmos
The price of Cosmos (ATOM) has increased by 5% over the past 24 hours to reach $11.1, after a sustained period of sell-offs. Although ATOM is down by 1.20% over the past week, it is showing signs of recovery due to the announcement of the launch of its first Consumer Chain called Neutron.
Neutron is a permissionless CosmWasm platform that enables smart contracts and will automatically push decentralized applications hosted on it to operate across different public networks.
Ape Brigade Preparing for Market Takeover
All eyes are on a brand new meme coin: Ape Brigade (APES) as it prepares for its launch. The simian meme coin is running its presale, but preparing to take over the market, and here’s why they might just do it.
There’s plenty in store for the Ape Brigade community. 20% of the supply will be locked in a liquidity pool, aiding the token in stability and liquidity. They also have an incentivized staking system in place, which allows users to win rewards if they stake APES.
The system is fair and transparent, taking into account the amount of APES staked and the time they have been staked for, specially designed so the community gets maximum benefit. In fact, 15% of the total supply is reserved exclusively for staking rewards!
At the heart of The Ape Team is a passion for animals, especially apes. The coin aims to focus on raising awareness and support for conservation efforts aimed at saving apes and other wild animals. This is why 10% of the total supply will be reserved just for the cause.
APES is also technologically advanced. As an ERC-20 token that operates on the Ethereum blockchain, it is secure, transparent, and accessible to anyone that has an internet connection. Even their roadmap has much to look forward to, including an NFT Space which will be a crucial part of their ecosystem.
It is an exciting time in the crypto market, with new developments being made and more and more groups lending their support to the crypto ecosystem. While Binance and Cosmos have made significant gains recently, it cannot be said for sure if they can sustain their gained momentum.
Ape Brigade, however, shows promise, due to its innovative presale and a roadmap that caters to a large community of investors. With the initiative to contribute to a good cause, this is a coin that is meant to stay.
Find out more about Ape Brigade (APES):