Economy
Mushe (XMU) Holds Strong, Terra (LUNA) Continues to Struggle
The crypto arena may be on unstable ground, with the likes of LUNA and BTC struggling, but it could yield great returns for XMU holders.
It’s safe to say that May has been a difficult month for millions of crypto investors around the globe. One look at the current state of play in the cryptocurrency landscape will show that a lot of digital tokens are seeing red. In the worst cases, like Terra LUNA, over 99% of its value has been lost within a matter of days. Yet, despite the widespread problems, some coins like Mushe (XMU) now look even stronger than ever.
Mushe (XMU) stands firm while others crash and burn
The current crypto crash is unlike anything ever witnessed in the 13 years of trading digital coins, and it’s not only LUNA that has seen its value plummet. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) are just three of the big players to see a major slump over the past week. Yet, XMU continues to see growth in its pre-launch phase, rallying from 0.005 to 0.027 per token.
In fact, with over 53 million – and rising – tokens already sold before going public on July 4, experts still predict that Mushe can take on Lucky Block (LBLOCK) to enjoy the biggest launch of any digital coin in 2022. Tokens stemmed from Layer_0 blockchain infrastructure have performed well in the first few months of this year, while many of the best altcoins over the past five years have enjoyed healthy growth in their first 12 months.
XMU has long been touted as one to watch in Q3 and Q4 of 2022. It has been suggested that buying the dip might not be a great strategy, with Oleg Giberstein warning, per Forbes: “Many a novice investor has been burned trying to ‘catch falling knives’. Despite the anticipation that the slump will last, the market should begin to correct itself and rally by July, which may leave XMU as one of the prime candidates to keep growing.
Ultimately, the Mushe roadmap has not been disrupted by the industry’s current problems, thus enabling it to stay firm in the face of a crash.
Major damage to Terra (LUNA) investors
While XMU is aiming to reach every digital wallet, investors of LUNA and other decimated tokens are cutting losses in their millions. Widespread stories of lost life savings have dominated column inches in recent days, while millions of investors have seen their portfolios become far less valuable as a direct result of the situation.
Meanwhile, the fact that the TerraUSD (UST) digital coin has lost its $1 peg is telling. The stablecoin has been linked to the USD but has been hit hard over the past week, resulting in suspended withdrawals from several trading platforms. Similar situations have been seen in relation to other struggling digital assets.
The episode has underlined how volatile the crypto landscape can be and how quickly the top 10 biggest crypto tokens can change. Just as quickly as they can slump, though, digital assets can soar. Mushe (XMU) has cemented its place as one of the most relevant coins during the crash investors can embrace the presale with immediate results.
Learn more about Mushe (XMU)
Official Website: https://www.mushe.world/
Presale Registration: https://portal.mushe.world/sign-up
Telegram: https://t.me/MusheWorldXMU
Twitter: https://twitter.com/Mushe_World
Instagram: https://www.instagram.com/mushe_world/
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
