The JUP-USD perpetual traded at 65 cents on Aevo at press time, implying a market capitalization of $700 million at the inception.Jupiter, a Solana-based decentralized trading aggregator, is scheduled to launch its native token, JUP, through an airdrop on Wednesday at 10 a.m. EST.The token will have an initial maximum circulating supply of 1.35 billion, Jupiter's pseudonymous founder Moew said Tuesday in a forum post, downwardly revising the total number of coins available for trading from the previously decided figure of 1.7 billion.In other words, the token could begin trading with a market capitalization of around $700 million, considering the JUP-U.S. dollar perpetuals traded at 65 cents on Aevo at press time.Of the initial circulating supply of 1.35 billion, 1 billion coins are for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool needs, and 250 million for a launch pool. Airdrop refers to crypto projects distributing free new or existing tokens en masse to their communities to boost adoption.About 955,000 wallets that interacted with Jupiter before Nov. 2 are eligible for the JUP airdrop, according to data source Airdrop Official.#coindesk #Write2Earn $SOL

The Foundation supporting decentralized crypto exchange dYdX has requested $30 million in funding from the project's governing decentralized autonomous organization (DAO) to be spent over the next three years.Switzerland-based dYdX Foundation provides legal, R&D, marketing and technical support to the crypto trading project, which includes a perpetual futures contract exchange and specialty blockchain in the Cosmos and Ethereum ecosystems. The Foundation's goal is to grow dYdX into "the exchange layer of the internet," according to its pitch.The budget request is hardly paltry; if honored by dYdX tokenholders (the voters in the DAO), it would award the Foundation 4% of the DAO's current treasury. At three years long, it would also free the dYdX Foundation from having to submit annual budgets for review and approval, a common practice for other DAOs and their respective foundations.The request garnered widespread approval from dYdX stakeholders ranging from validators to delegates when the Foundation first shared it last Friday. It will now go to a vote running through February 2.Nearly half of the requested budget would cover payroll, with 18% going to marketing and growth, 14% to various legal disbursements, and 5.5% to contractors, among other line items.In a forum post, the Foundation telegraphed its commitment to responsibly managing money through "capital preservation" strategies that reduce risk. It diversified away from USDC and into treasury bonds after last March's banking crisis-fueled stablecoin de-pegging, perhaps a step away from crypto but one that nonetheless reduced risk and tripled yields.The Foundation would "diversify" some of the acquired funds "into fiat and stablecoins" and also invest in expanding its staking operation, through which it currently earns staking yield on 2.5 million dYdX tokens. Its $30 million would comprise 10.5 million DYDX tokens and expand the Foundation's operational runway beyond 18 months.The Foundation's next budget request would come "when we approach 18 months of runway" – likely in mid or late 2026 at current projections. In lieu of annual budget votes, the Foundation said it would "aim to issue an annual report and a semi-annual report" that detailed its use of the funds.#Coindesk #write2earn

The fund now holds nearly 50,000 bitcoin after adding almost another 4,300 tokens on Thursday.The BlackRock iShares Bitcoin ETF (IBIT) on Friday became the first of the recently launched spot bitcoin products to reach $2 billion in assets under management (AUM). This doesn't include Grayscale's GBTC, which had nearly $30 billion in AUM at the time of its conversion from a closed-end fund to a spot ETF.Investors added about $170 million to IBIT on Thursday, with the fund purchasing nearly another 4,300 bitcoin (BTC), pushing total tokens held to 49,952. With the price of bitcoin rising well above the $40,000 level early Friday, that brought AUM to above $2 billion.Now with over $2 billion in AUM, the fund ranks third in asset gathering among all of the more than 600 ETFs that launched in the past year, noted ETF Store president Nate Geraci, who believes IBIT could soon take over the crown as number one.The next fund to cross the $2 billion mark is likely to be Fidelity's Wise Origin Bitcoin Fund (FBTC), which held just shy of 44,000 bitcoin as of Jan. 25.#Coindesk.com #blackrock #TradeNTell

U.Today - Colin Wu, a prominent figure in the crypto journalism space, has reported that Mt. Gox recently initiated an email verification process for users, seeking confirmation of ownership for exchange address accounts designated as payment addresses for Bitcoin (BTC) and Bitcoin Cash (BCH).This move follows December 2023 reports from creditors who confirmed receiving compensation in Japanese yen through their PayPal (NASDAQ:PYPL) accounts, with the ongoing repayments scheduled to extend into 2024.The central concern emerging from this development is the significant volume of Bitcoin that Mt. Gox is rumored to be releasing onto the market. While estimates vary, ranging from 142,000 BTC to 200,000 BTC, the lack of consensus among sources has prompted increased scrutiny within the crypto community. Market participants are particularly attentive as the countdown begins for a potential 200,000 BTC release within the next 60 days.Complicating matters, Mt. Gox presently holds 143,000 BCH, intensifying speculation about the combined impact of the Bitcoin and Bitcoin Cash release on market dynamics. With an additional 69 billion yen reportedly under the exchange's control, the situation has garnered attention for its potential to influence broader market sentiment.As the industry closely monitors this unfolding scenario, analysts and enthusiasts are awaiting further details and confirmation from Mt. Gox. The reserved anticipation within the community underscores the significance of this story, making it a focal point for careful observation in the weeks ahead.#U.today #TradeNTell

Ethereum is encountering a massive sell-off exceeding $1 billion. The source of this enormous market movement can be traced back to Celsius, which reportedly transferred a staggering 459,561 ETH, valued at approximately $1.014 billion, to various exchanges.The distribution of this sell-off was as follows: 297,454 ETH ($656.5 million) moved to Coinbase (NASDAQ:COIN) Prime, 146,507 ETH to Paxos Treasury and smaller amounts of 7,800 ETH each, totaling $17.2 million, were transferred to FalconX and Coinbase. Despite this massive transfer, Celsius reportedly retains a reserve of 62,468 ETH, worth around $139 million.Such a colossal sale exerts immense pressure on Ethereum's price and could significantly sway market sentiment. The immediate concern for investors and traders is whether Ethereum's liquidity and market capitalization can absorb such a hit without triggering a broad market downturn.From a technical analysis standpoint, the massive outflow from Celsius is a bearish signal, likely to test Ethereum's local support levels. A crucial support to watch is around the $2,000 price range, a psychological and technical support level, which, if breached, could see the price tumble to the next significant support at $1,800. This level has historically acted as a strong buy zone and may serve as a robust defense against further declines.Conversely, resistance levels have become more formidable due to the sell-off. Any potential recovery will have to confront the resistance at $2,200, which previously acted as a support level. A break above this could see Ethereum attempt to reclaim higher price levels, possibly testing the $2,400 resistance.The substantial sell-off initiated by Celsius has placed Ethereum in a problematic position. Although the Ethereum network's fundamentals remain robust, the asset's price resilience in the face of such a significant sell-off shows the actual state of the market.#U.today #Investing.com #TradeNTell

The landscape of cryptocurrency is evolving. Bitcoin (BTC), once considered the undisputed leader, is currently facing market challenges with its value edging towards $40,000. However, in the ever-changing tide, a new wave is emerging, and smart investors are enthusiastically exploring the booming altseason of 2024.In this dynamic environment, two noteworthy players are gaining attention: Solana (SOL), renowned for its rapid blockchain technology, and Retik Finance (RETIK), a promising DeFi newcomer equipped with practical applications set to reshape the concept of financial independence.Why Investors are Looking Beyond Bitcoin (BTC)The recent approval of multiple Bitcoin ETFs was expected to propel Bitcoin’s price to new heights, but instead, it took a nosedive from $48,000 to $40,000 in just a week. This sudden drop has spooked some investors, leading them to reassess their portfolios. However, instead of signifying the end of cryptocurrency’s bull run, this market correction represents a natural shift in focus within the broader ecosystem. Investors are becoming more selective, seeking out projects with tangible utility and real-world applications beyond mere speculation. Solana (SOL) and Retik Finance (RETIK) are prime examples of this trend. They offer solutions to pressing problems in the crypto space, such as scalability limitations and the gap between digital and traditional finance. Their dynamic ecosystems, innovative features, and dedication to user needs make them compelling investment opportunities, attracting capital away from Bitcoin and other stagnant giants.Retik Finance (RETIK) Emerges Strong as Bitcoin Slides Amidst Bitcoin’s decline, Retik Finance (RETIK) has flourished by capitalizing on favourable altcoin market conditions. Its success is not a mere stroke of luck but rather the outcome of several pivotal factors. While BTC is trending downward towards $40,000, RETIK has consistently surpassed expectations through its remarkable presale performance. In just 45 days, it has garnered over $12 million, sold over 200 million units of tokens, and amassed an impressive 12,000 holders, showcasing its immense potential and investor confidence. Amidst a bustling financial landscape, Retik Finance (RETIK) appears as a disruptive force, effortlessly weaving together the worlds of crypto and fiat currencies. By pioneering the convergence of traditional financial systems and cutting-edge blockchain technology, RETIK positions itself as a visionary leader. This strategic advantage equips them to capitalize on the surging demand for practical, real-world applications of cryptocurrency. Unlike fleeting trends that fade into obscurity, Retik Finance (RETIK) is built upon a bedrock of solidity. A well-crafted roadmap, seasoned professionals at the helm, and a compelling value proposition collectively inspire confidence in the project’s enduring viability. This is not a fleeting success but a meticulously orchestrated initiative poised for enduring prosperity. Furthermore, Retik Finance places immense value on its vibrant community. This dedication extends beyond mere lip service, manifesting in transparent communication, a highly responsive team, and an unwavering commitment to shared triumphs. In an industry often shrouded in anonymity and deceit, this refreshing level of transparency and inclusivity serves as a magnet, attracting and retaining a devoted investor base.Solana (SOL) Gains Traction Amid Altseason FrenzyKnown as the “Ethereum killer,” Solana has captivated investors with its rapid transaction speeds and efficient blockchain. Processing an impressive 50,000 transactions per second (in contrast to Ethereum’s 15), Solana has become a hub for innovative DeFi projects and NFT creation. This scalability is vital as DeFi applications become more intricate, drawing in users who seek seamless experiences. In addition to speed, Solana boasts a thriving ecosystem featuring decentralized exchanges (DEXes), lending protocols, and NFT marketplaces. Platforms like Raydium and Serum have become favorites for DeFi enthusiasts, and Solana-based NFTs, such as Degenerate Ape Academy and SolSea, are generating significant excitement. This diverse ecosystem fuels growth, attracting developers, users, and investors alike. Despite some hiccups like network outages, sudden price crashes, and network congestion, Solana (SOL) seems to remain resilient. The team’s commitment to optimization and scalability upgrades, exemplified by the launch of Project Highway, instils confidence in its ability to address challenges and enhance performance.ConclusionAmidst Bitcoin’s (BTC) ongoing existential crisis and its plunge towards the $40,000 mark, Solana (SOL) and Retik Finance are emerging as radiant beacons of the future in the cryptocurrency realm. They embody a transformative shift, moving away from mere speculative fervour and embracing a more mature and utility-centric approach. This evolving landscape underscores the fact that Altseason 2024 is not solely about pursuing swift financial gains. Rather, it emphasizes the significance of identifying and supporting projects that are actively shaping the future of finance. Among these projects, however, Retik Finance (RETIK) stands out as a global leader, diligently crafting a comprehensive ecosystem that successfully bridges the gap between the crypto world and the tangible realm. This strategic move resonates profoundly with investors who have grown wary of Bitcoin’s recent volatility.#TradeNTell #Analytics Insight

The Philippines Securities and Exchange Commission is warning users in the country that it may soon block access to Binance as the exchange is operating without a license in the country.In a notice, the regulator said that Binance is not authorized to sell or offer securities to the public.The regulator also said Binance is actively promoting crypto trading to Filipinos on social media, an offense in the country that may have criminal liability for the promoter.“Those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, influencers, endorsers, and enablers of Binance in selling or convincing people to invest in its platform within the Philippines, even through online means, may be held criminally liable under Section 28 of the Securities Regulation Code," it said in the notice, warning of fines of 5 million Philippine Pesos ($90,000) or up to 21 years in jail.The regulator is also seeking the assistance of the National Telecommunications Commission to block Binance in the country, and it has ordered Google and Meta to block local ads from Binance.This block, if approved, will take place in three months allowing local users to liquidate and withdraw their positions.Local media in the Philippines published a response from Binance, where the exchange said it was "committed to aligning with applicable local regulations. Under our new leadership, we have taken proactive steps to address the SEC's concerns.”Binance recently settled with U.S. authorities, agreeing to pay $4.3 billion in fines on charges that it failed to maintain a proper anti-money laundering program, operated an unlicensed money-transmitting business, and violated sanctions law.#Coindesk #binancewishes #binancelegal

Bitcoin (BTC) has gained this week due to increased optimism about the potential approval of multiple spot bitcoin exchange-traded-funds (ETFs), JPMorgan (JPM) said in a research report Wednesday.The Securities and Exchange Commission’s (SEC) decision not to appeal a recent ruling in the Grayscale case brings the approval of the applications closer, the report said. Grayscale is the manager of the Grayscale Bitcoin Trust (GBTC), the largest cryptocurrency fund in the world.Timing of an approval is unclear, but should happen within months, and probably before Jan. 10, the final deadline for the Ark 21Shares applications, analysts led by Nikolaos Panigirtzoglou wrote.ETFs are traded on an exchange, like stocks, and track the performance of an underlying asset. They are popular because they allow investors to gain access to cryptocurrencies without having to purchase the underlying digital assets themselves. They are also cheaper to trade. The crypto market is hopeful that the approval of a spot bitcoin ETF will lead to a flood of mainstream money into the sector.The bank reiterated its view that the regulator was likely to approve multiple applications at once rather than grant a “first mover advantage” to any single applicant.JPMorgan said such a move could be beneficial for investors as it would encourage competition in regards to ETF fees.“Grayscale will likely face greater pressure to lower fees if the trust gets approval to be converted into an ETF,” the report said.CoinDesk’s parent company, Digital Currency Group, also owns Grayscale.#coindesk #btc

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulationLightning Labs has released the mainnet alpha of Taproot Assets, which could bring stablecoins and real-world assets to the Bitcoin blockchain. Senator Elizabeth Warren has amped up her campaign against crypto with a letter urging the White House to consider the role of digital assets in terrorism financing. Meanwhile, Reddit is sunsetting its blockchain-based rewards system, “Community Points."Lightning Labs releases Taproot Assets, bringing stablecoins to BitcoinBitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoins and other assets on the Bitcoin blockchain, according to Ryan Gentry, head of business development at Lightning Labs.Announcing the first mainnet release of Taproot Assets , a protocol for assets on #bitcoin and Lightning.With this release, developers can issue financial assets on-chain in a scalable manner.Today marks a new era of multi-asset bitcoin. https://t.co/2cNvZSvv8v— Lightning Labs⚡️ (@lightning) October 18, 2023“With this release, developers can issue financial assets on-chain in a scalable manner,” Lightning Labs stated on Oct. 18 in a separate post. “Today marks a new era of multi-asset bitcoin.”Gentry says the integration will extend Bitcoin’s network effects and move it one step closer toward “bitcoinizing the dollar.” He added:“This is how we make bitcoin the global routing network for the internet of money. This is how we bitcoinize the dollar and the world's financial assets.”Lawmakers sign letter urging White House’s attention to crypto terrorism financingNotable crypto cryptic Elizabeth Warren was joined by over 100 legislators in signing a letter to alert the White House about the role of digital assets in financing terrorism.The letter, which was dated Oct. 17, was addressed to the Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson and National Security Adviser Jake Sullivan. The authors cited a recent news article claiming that Palestinian militant groups raised over $130 million in crypto donations between 2021-2023."US Treasury sanctions Gaza-based crypto operator allegedly tied to Hamas. Find out how terrorist organizations used Buy Cash Money for fund transfers. Stay informed and read more on Cointelegraph: https://t.co/j1IhVDNU3o #DYOR @HRM69INU"— Blackhat ™ (@blackhat_TM) October 18, 2023“As Congress considers legislative proposals designed to mitigate crypto money laundering and illicit finance risks, we urge you to swiftly and categorically act to meaningfully curtail illicit crypto activity,” the letter said.The letter was signed by 29 senators, including Warren, and 76 members of the House of Representatives.Reddit winding down blockchain-backed “Community Points”Social platform Reddit will shutter its long-running blockchain-based rewards service, “Community Points,” by Nov. 8, citing scalability issues.In an Oct. 17 post in the r/cryptocurrency subreddit, a Reddit team member said there was no path to scale the service broadly across the platform.The points were Ethereum-based ERC-20 tokens available in Reddit’s in-house crypto wallet service dubbed the “Reddit Vault” and were used to incentivize higher-quality content on the platform, rewarding users for engagement on certain subreddits.Subreddits had their own tokens, such as the r/cryptocurrency board’s Moons (MOON) token or Bricks (BRICK) for the r/FortNiteBR subreddit. The value of MOON and BRICK plunged following the news, with Reddit users and crypto enthusiasts voicing disappointment and anger at Reddit’s decision.Pseudonymous trader Byzantine General told his 163,000 followers on X (Twitter) that Reddit had essentially “rugged” their community.#cointelegraph

Binance CEO Changpeng Zhao said in a 2022 post the company had received over $2.1 billion in binance usd (BUSD) stablecoins and FTX’s FTT tokens.Bankrupt crypto exchange FTX used customer funds to buy back the entirety of the firm’s stake held with competitor exchange Binance, a court hearing on Wednesday revealed.Binance CEO Changpeng Zhao said in a 2022 post the company had received over $2.1 billion in binance usd (BUSD) stablecoins and FTX’s FTT tokens as part of the repurchase.Peter Easton, an accounting professor at the University of Notre Dame, has been hired by the U.S. Department of Justice (DOJ) to trace the billions of dollars between Alameda and FTX as part of the ongoing Sam Bankman-Fried trial.“Oh, yes,” Easton said when asked by the court whether FTX ever spent user deposits. The professor testified these user deposits were reinvested into businesses and real estate, used to make political contributions and donated to charity, as reported.Read more: ‘Oh, Yes’: Accounting Prof Says Sam Bankman-Fried’s FTX Definitely Mishandled Customers' MoneyThese deposits were used to buy back Binance’s shares in FTX. “Over a billion dollars came from customer funds from FTX exchange,” Easton testified on Wednesday.In 2019, Binance invested an undisclosed amount of money in FTX as part of a strategic partnership between the two firms. The then-infant FTX processed $500 million daily in trades, a far cry from the over $50 billion at its peak.#binance #coindesk

The Australian Federal Government is working on a regulatory framework for “entities providing access to digital assets” and is seeking industry input. The intention, it said, is to bring Australian regulations in line with those overseas, using existing financial frameworks. The idea is to regulate intermediaries like exchanges, service/asset issuers, and financial product advisers.The policy proposals come a week after the Treasury also signaled its intention to regulate the (non-blockchain) digital payments industry, broadening its definitions of payments and assets. While the focus of the digital payments proposal was international transfers and national security risks, the digital assets document looks more at consumer protection and “promoting innovation through technology neutrality.”It referred specifically to the FTX exchange collapse, which it noted affected 50,000 Australian consumers. Past problems with FTX and digital asset exchanges, in general, had resulted from “ineffective management practices” and “inadequate governance structures,” as well as the usual suspects of fraudulent activities, poor resilience, and conflicts of interest.Using existing financial regulations as a guide, the Treasury said digital asset facilities would have minimum standards for holding assets, intermediating platform entitlements, and transactional functions.Any license changes would apply to businesses based in Australia, whether they serve only the Australian consumer market or act as a broker for others located elsewhere.Entities holding less than AU$5 million in total assets and individual clients holding less than AU$1,500 in entitlement value would be exempted.Token functions, ‘ownership’ and ‘functional control’Treasury clarified that its definition of a digital “token” includes only those that can be freely traded on third-party marketplaces, and (usually) not examples like event tickets and gift cards (even those that can be cryptographically signed). Digital assets, it added, function as non-physical “bearer asset” where the primary value of the token is the asset itself.However, one section acknowledges the challenges in differentiating between token types and determining what constitutes “ownership.” A digital token may represent various kinds of entitlements, from ownership of physical property or shareholding to a specific store discount. If a digital token is stolen, the thief has possession (or “factual control”) of the asset and its entitlements, but is not that token’s legal owner.“The programmability of digital tokens increases the uniqueness of token marketplaces further,” it said.Treasury’s policy proposals are more concerned with the intermediaries that provide access to these assets and wallet storage—namely, exchanges. It suggested a new type of financial product called a “digital asset facility” that would bring digital asset exchanges in line with existing Australian Financial Services Licence (AFSL) laws, regulating the intermediaries that facilitate storage, trades, and transfers of digital tokens. This “activities-based approach” focuses more on the services side rather than the token features themselves.“An important feature of the proposed framework would be that platform entitlements in relation to non-financial product assets do not become financial products,” it said. This allows token issuers more freedom to issue tokens representing physical assets or other values while protecting the token holders.Assets embedded with “financialised functions” would be subject to licensing requirements for their issuers, while non-financialised assets would not. However, any platform facilitating trade and storing digital tokens of any type would be subject to licensing requirements.Tokens can represent value in non-financial industries like social media, gaming, health care, media and entertainment, fitness, and lifestyle. The definition of a digital asset “holder” can also be unclear, it noted, if tokens are programmed with conditions that must be met, multiple sign-offs required to use, etc. Therefore, it uses “factual control in a real and immediate sense” as a suggestion.“There are also some digital assets that do nothing and others that were created for harmful purposes such as scams.”The Treasury said the policy proposals do not apply to “stablecoin” providers, merchants accepting tokens as payment, or any provider “publishing data to a public database” (e.g., a blockchain). However, these activities are already covered by existing laws that apply to their specific industries, such as contracts, intellectual property, privacy, and defamation.Once again, the Treasury is seeking public and industry feedback on its thoughts, with a deadline for written submissions on December 1, 2023. Its document on the topic contained a reminder that these are demonstrations of “policy intention” only and not draft laws. Any new law passed, as a result, would still have a 12-month transitionary period for the digital asset industry to make any changes necessary to comply#australia #coingeek

Some analysts said the amendments show the U.S. Securities and Exchange Commission is holding active discussions with related parties.By Shaurya MalwaBitcoin jumped to a two-month high on Wednesday after Fidelity joined the ranks of firms amending their spot bitcoin ETF filings.• The amendments could indicate open communication lines between the firms and regulators.Bitcoin (BTC) shot to as high as $28,817 earlier today as amendments to a spot bitcoin ETF filing in the U.S. fired up bullish sentiment.The largest cryptocurrency added 2.8% in the past 24 hours, reaching a two-month high and leading gains among major tokens. The advance extended its weekly rally to almost 7%.Asset management giant Fidelity filed an amendment to its proposed spot bitcoin ETF, the Wise Origin Bitcoin Trust, with the U.S. Securities and Exchange Commission (SEC) late Tuesday, specifying how it will safeguard customers’ bitcoin in custody accounts and disclose risks related to the shaky regulatory environment around cryptocurrencies, among other factors.Fidelity follows Ark Invest and Invesco, which also recently amended their spot bitcoin ETF filings. Invesco refiled on Oct. 11 and Ark Invest followed suit a day later. These developments are likely a sign of ongoing discussions between prospective ETF providers and the SEC – helping spark bullish sentiment among traders, market observers said.Some firms expect the approval, when it occurs, to add at least $1 trillion to overall market capitalization, which is currently at $1.1 trillion, in coming months.“More proof that potential spot Bitcoin ETF issuers are in communication with SEC regarding changes/amendments required for SEC to consider approving,” James Seyffart, a research analyst at Bloomberg Intelligence, posted today on X (formerly Twitter). “Positive signs (in my opinion).”Some firms expect the approval, when it occurs, to add at least $1 trillion to overall market capitalization, which is currently at $1.1 trillion, in coming months.Speculation of a spot bitcoin ETF getting approved made the rounds earlier this week, causing bitcoin to jump almost 10% in a move BlackRock CEO Larry Fink suggested illustrated the “pent up” investor interest for the crypto market. Prices continued to rise even after the rumor was shown to be false.Meanwhile, some analysts forecast bitcoin will touch $29,400 in coming days, citing increasing volumes.#coindesk

An erroneous report that BlackRock Inc. had won approval to launch a spot ETF rapidly sent the largest digital asset to $30,002 on Monday, the highest price since March. The move cooled after the world’s biggest money manager said its application remains under review, leaving Bitcoin 4.4% higher for Oct. 16.Crypto Price Today: Bitcoin nears $28,000; Ethereum rises above $1,550"BTC and ETH both showed positive gains over the weekend, driven by the news that the SEC won't appeal the court decision regarding Grayscale's spot Bitcoin ETF application. This news has sparked the interest of investors, as it raises the likelihood of a BTC spot ETF approval by the end of the first quarter of 2024," said CoinDCX Research Team.Crypto Price Today: Bitcoin rises above $28,200; Ethereum holds above $1,550"Bitcoin’s price touched the $30,000 mark before settling at the $28,000 level following false news published on X (formerly Twitter) about the SEC approving Blackrock’s spot ETF application. The news caused more than $100 million in liquidations," said Edul Patel, CEO of Mudrex.BlackRock later confirmed to Reuters that "the iShares Bitcoin ETP application is still under review by the SEC." Sources close to the SEC also confirmed that the application is still pending.Bitcoin consolidates at $27,500 post last week’s short-term rallyThe immediate resistance levels for Bitcoin on the upside are located around US$27,650 and subsequently US$28,000. A decisive breakthrough above the US$28,000 resistance level could trigger another bullish run.#theeconomictimes #Newsfortoday

The Top 4 Cryptos For Today ArePepe Coin Remains FlatThe Pepe coin price was down 0.19% on Tuesday and traded at $0.0000006744, despite a positive momentum in the broader market. However, they moved towards the north earlier in today’s session, but the fluctuations in the prices suggested a highly volatile condition in the crypto’s price.Bitcoin SV (BSV) Adds 12%The Bitcoin SV was among the top gainers on October 17, while adding over 10% in its price. Meanwhile, as of writing, the Bitcoin SV price rose 11.53% to $37.70, while its volume for the last 24 hours skyrocketed 870.96% to $255.61 million.Render (RNDR) Jumps 7%The Render crypto was another top mover today, adding about seven percent in its price on Tuesday. Meanwhile, the Render price jumped 6.95% to $1.87 during writing, while its volume surged 391.20% from yesterday to $85.91 million.IOTA (IOTA) Price Rises 4%The IOTA price added 4.33% on October 17, and traded at $0.1514, while its volume rocketed 947.28% to $40.97 million. Among its recent development, the project announced yesterday that the IOTA Foundation will join the UAE startup delegation at the CEATEC conference in Chiba, Japan, underlining its pivotal role in tech innovation.#coingape

The distributed ledger technology (DLT) involved in crypto trading allows for data to be distributed and synchronised. But it does not prevent market manipulation. There are a number of respected and well-regulated exchanges in the cryptocurrency sector. But there are many small exchanges that are less well known and less regulated. There are also many who are looking to use cryptocurrency as a vehicle for wrongdoing.Market manipulation is one way in which crypto can be used to make illegal gains. Such manipulation can be carried out in a number of ways. Some employ tactics that have been used in more traditional asset markets while others are unique to cryptocurrency.The most popular are:1.Pump and dump: This is the artificial inflation of the price of an asset and is a practice that has been conducted for many years on various markets. It involves a series of sales and purchases of a cryptocurrency to create the impression that the asset is increasing in value. Those behind this then sell the asset when their artificial rising of the price attracts buyers who have been duped into believing that the cryptocurrency in question is set to keep rising in value.2.Whale wall spoofing and stop hunting: The practice of whale wall spoofing was often used when Bitcoin was in its infancy. It is now most often used on the less well-regulated exchanges. It involves an individual or organisation (“a whale”) placing a large order so that fake buy or sell walls are created in the order books, which can trick other parties into panic selling (as they fear a particular asset is losing value) or rushing to buy (as they believe huge demand for an asset is pushing its value up). For example, a whale may set large sell orders which in turn tricks investors into panic selling. In stop hunting, a whale drives the price to where set stop-loss orders – which are designed to limit an investor's loss if an asset falls in value – are triggered. The resulting market volatility enables assets to be bought at a lower price.3.Wash trading: This is similar to whale wall spoofing and involves misleading information being introduced to the market to prompt rapid buying and selling of an asset to distort the price to an artificially high level. For small exchanges, this can increase their number of users and, in turn, the commission they earn.4.Disseminating false information:: False information is often spread to traders or investors on forums in an attempt to provoke a change in the market that those doing the spreading wish to see.#Band #Loom #lexology