Santa Rally’ Expected To Drive Bitcoin to $56,000, Meme Moguls (MGLS) A Rising Star, PayPal Faces SEC Inquiry

The post Santa Rally’ Expected To Drive Bitcoin to $56,000, Meme Moguls (MGLS) A Rising Star, PayPal Faces SEC Inquiry appeared first on Coinpedia Fintech News

While the crypto space eagerly anticipates a “Santa Rally” that could catapult Bitcoin to $56,000 by year-end, the landscape is booming with varied activities. Firstly, Meme Moguls (MGLS) is an intriguing asset drawing significant attention in the meme-token sector. Secondly, PayPal announced receiving a subpoena from the SEC regarding its USD stablecoin.

Bitcoin (BTC): Potential Surge to $56,000

Backed by compelling insights and market analysis, many analysts foresee a Bitcoin (BTC) surge to $56,000. A recent report by Matrixport suggests that if a BlackRock spot Bitcoin ETF gains approval, Bitcoin could soar to remarkable heights.

This projection hinges on specific market scenarios: if Tether’s market cap, acting as a gauge for potential ETF inflows, increases by $24B, Bitcoin’s price could reach $42,000. However, as per this Bitcoin price prediction, an influx of $50B could propel its price to an impressive 56,000 before 2023 ends.

Recently, the Bitcoin price performance has been great, soaring from $35,360 on November 8 to $36,258 on November 15. Market sentiment is bullish, coupled with 18 out of the last 30 days reflecting positive gains, contributing to the optimism surrounding Bitcoin’s growth potential.

Meme Moguls (MGLS): A Rising Presale Star

Amidst this Bitcoin development, Meme Moguls (MGLS) stands out as an enticing opportunity for meme enthusiasts. This upcoming platform will bring something new – the world’s first meme-backed stock exchange. It presents a unique chance for you to venture into the realm of fantasy meme trading and climb the ranks to become a mogul in your own right.

At the center of this platform will lie the MGLS token. Holding this token will bring you many exciting benefits, such as governance voting rights, passive income via staking, and more.

Not only that, It makes things even better by awarding one community member with $10,000 after the end of each presale stage. Currently, the presale is in the Beta stage with one MGLS token costing only $0.0019.

But, as the presale advances, so will its value grow. Because of this, market analysts foresee a 1,000% growth before its presale ends. Therefore, if you join the presale now, you may be the lucky one to win $10,000 while also gaining outstanding returns as the MGLS value rises. 

PayPal Under Scrutiny

Disclosed in a Quarterly Report to the SEC, PayPal revealed receiving a subpoena from the SEC’s Division of Enforcement. This inquiry is directly tied to PayPal’s USD stablecoin.

Looks like regulators are getting interested in how stablecoins work and what’s backing them up. This shows how crypto is coming under a lot more oversight lately.

In response, PayPal has emphasized its full cooperation with the SEC, indicating a commitment to transparency and regulatory compliance. This move demonstrates PayPal’s dedication to engaging with regulatory bodies and addressing inquiries regarding its stablecoin operations.