The case for heightened ETH volatility is strengthened by the recent sharp rise in open interest for the digital asset. Some crypto analysts are confident that ETH
will re-test some of its crucial resistance
levels before further upside movement.
For instance, crypto analyst Carl
Runefelt recently opined that if ETH breaks the $2,640 resistance level, it could initiate a significant price rally.ETH trades at $2,663 at press time,down 2.4% in the past 24 hours.
**News Flash: AI and Blockchain Convergence! 🚀**
AI and blockchain, once separate tech trends, are merging to create groundbreaking solutions! 🌐 Blockchain enhances AI by addressing privacy concerns and reducing data breach risks. It also makes AI more sustainable through decentralized energy, balancing efficiency with environmental responsibility. Critics worry AI benefits only a few, but blockchain's public ledger can democratize access, ensuring broader inclusion.
What are your thoughts on this tech synergy? Share in the comments! 💬
🚀 Despite a recent dip, the crypto market remains full of potential! 🌟 BTC fell over 2% and ETH dropped 3.54%, slipping below $2,700. 📉 But don't worry, these fluctuations are part of the game! 💪
Stay optimistic, fellow DeFi enthusiasts! The market is resilient and full of opportunities. 💼✨ What are your thoughts on this dip? Share your insights in the comments! Let's discuss and navigate this journey together! 🚀💬 #Crypto #BTC #ETH #DeFi #MarketAnalysis
🚨 Sky, formerly known as Maker, may revert to its original name due to community confusion and negative feedback after its August rebrand.
Co-founder Rune Christensen has proposed 3 options: continue as Sky, return to Maker, or modernize Maker.
Why do crypto projects keep rebranding? It doesn't change the approach; in fact, it often makes things worse.
#SkyEcosystem #Maker #Cryptoprojects #rebranding #TrendingTopic
Attackers have stolen $30,000 in Bitcoin through a fake hardware wallet.
Unknown criminals forged a hardware cryptocurrency wallet and withdrew 1.33 BTC (about $29,585).
According to experts, the victim bought an already-infected hardware wallet, and the factory packaging and holographic stickers looked untouched and did not seem suspicious.
When opening the device, Kaspersky Lab specialists found signs of malicious interference.
“The housing was difficult to open: its two halves were held together with liberal quantities of glue and double-sided adhesive tape instead of the ultrasonic bonding used on factory-made Trezors. Even more curiously, inside there was an entirely different microcontroller showing traces of soldering,” they said.
At the initialization stage or when the wallet was reset, the randomly generated LED phrase was replaced with one that was pre-created and stored in the fraudulent firmware.
In addition, if the owner set an additional password to protect the master key, only its first character was used. Thus, in order to find the key to the fake wallet, the attackers had to sort through only 1,280 options.
We’ve told you before that hardware wallets are the safest way to store crypts.
However, attackers have found an original (let’s be honest) way to crack the “cold” protection: to sell infected or fake devices. If you opt to buy a cold-storage hardware wallet, remember to buy directly from the company.
$BTC
{spot}(BTCUSDT)
Bitcoin Dominates the Market as Altcoins Lag Behind.
Bitcoin's (BTC) market dominance continues to rise, reaching 58%. This situation indicates that the altcoin season has not yet begun, as stated in a Matrixport report. Despite the existence of over 20,000 altcoins in the market, investors remain focused primarily on Bitcoin.
Altcoins Remain in the Background.
According to Matrixport's latest research, Bitcoin's dominance shows that ETF inflows have not significantly benefited altcoins. The lack of focus on altcoins prevents them from experiencing a substantial upward trend.
The report also notes that retail investors have not yet made a strong entry into the market, explaining why Bitcoin attracts greater interest compared to other cryptocurrencies.
Bitcoin's Trading Volume Grows Exponentially.
Moreover, Matrixport highlighted that Bitcoin's trading volume has surged from $10-20 billion in 2023 to $20-40 billion in 2024, nearly doubling. This increase further clarifies how Bitcoin enhances its impact on the market.
Bitcoin continues to stand out as one of the best investment options in the cryptocurrency market in terms of risk- adjusted returns. Experts emphasize that Bitcoin remains one of the most reliable and profitable investment assets in the market.
Matrixport's research and findings indicate that Bitcoin is still at the center of the cryptocurrency market, with the altcoin season arriving later than anticipated. As investor interest continues to gravitate towards Bitcoin, the prominence of altcoins appears challenging for the time being.
On the 15-minute time frame, $UNI /USDT is currently trading at 8.024 USDT. The nearest resistance level is identified at 8.42 USDT, while support is found at 7.70 USDT.
A potential entry for this trade could be around 8.02 USDT. The first take-profit (TP1) level is suggested at 8.15 USDT, followed by 8.30 USDT (TP2), and finally 8.45 USDT (TP3).
To minimize potential losses, a stop loss (SL) is recommended at 7.85 USDT.
#Therapydogcoin #UptoberBTC70K? #APESurge #ScrollOnBinance #CMEBTCFuturesRecordHigh
{spot}(UNIUSDT)
Rising Crypto Star 🚀
Experts are buzzing about a new cryptocurrency, Pikamoon, which could potentially overtake major coins like Binance Coin $BNB and Solana $SOL
Pikamoon’s combination of utility in gaming, NFTs, and DeFi platforms has fueled its rapid growth. Its native token powers a play-to-earn game within a metaverse economy, attracting investors and crypto enthusiasts alike.
Analysts predict it could disrupt established players due to its innovation and strong community backing.
Could Pikamoon become the next big player in the crypto world?
Source: Crypto.news
**Crypto Tax Reforms in Japan: A Hot Topic Ahead of Elections! 🇯🇵**
As Japan gears up for national elections on Oct 27, political parties are making waves with proposals to reform crypto tax regulations. Yuichiro Tamaki, leader of the Democratic Party for the People (DPFP), is advocating for a flat 20% tax rate on crypto assets, instead of the current system where profits are taxed as income, sometimes as high as 45%.
- **Key Proposals:**
- Separate 20% tax rate on crypto assets
- No tax when exchanging crypto assets
- Launch of crypto ETFs
- Conversion of yen into electronic currency
- Issuance of digital regional currencies
Other parties, including the Liberal Democratic Party and the Constitutional Democratic Party of Japan, are also pushing for crypto-friendly reforms, seeing potential in web3 and blockchain technologies.
What do you think about these proposed changes? Share your thoughts in the comments!
**Uniswap Faces Regulatory Scrutiny Amidst Legal Uncertainty**
Uniswap, a decentralized exchange protocol, has gained significant popularity due to its ease of use and non-custodial design. However, its legal status in the United States remains a topic of concern. Currently, using Uniswap is legal in the US, but future regulatory actions could change this.
The SEC has issued a Wells notice to Uniswap Labs, indicating potential securities violations. Additionally, the CFTC reached a settlement with Uniswap Labs in September 2024, imposing a civil penalty for allegedly enabling leveraged token exposure without proper registration.
These regulatory challenges cast a shadow over Uniswap's future in the US market. While decentralized exchanges offer unique benefits, the evolving regulatory landscape poses significant risks.
🚨 **Crypto News Flash: India Eyes Crypto Ban, Pushes Digital Rupee!** 🚨
- Indian regulators are considering banning private cryptocurrencies like Bitcoin and Ether, promoting the digital rupee instead.
- Officials argue that Central Bank Digital Currencies (CBDCs) offer more benefits with fewer risks.
- A discussion paper on the topic is expected soon, following consultations with key institutions.
- India's crypto regulation history has been turbulent, with a 2018 ban overturned in 2020.
- Despite the anti-crypto stance, blockchain tech is praised for its potential social benefits.
💬 What are your thoughts on India's crypto future? Comment below!
**UK FCA Defends Crypto Regulations Amid Criticism**
The UK's Financial Conduct Authority (FCA) is standing firm on its stringent crypto regulations, despite pushback from the industry. Val Smith, head of payments and digital assets at the FCA, emphasized the need for rigorous standards to protect consumers and maintain market integrity.
Smith argued that relaxing these standards could lead to unsafe innovations and potential market collapses. Critics claim the tough regulations hinder the UK's goal of becoming a global financial leader, but Smith insists they are crucial for long-term success.
CryptoUK, a trade association, has voiced concerns, noting that only 4 out of 35 crypto business registrations were approved last year. They argue the process is resource-intensive and discouraging.
Despite these challenges, the FCA remains committed to supporting prospective crypto businesses, offering pre-application meetings and practical support. The FCA and the Bank of England are also exploring digital ledger technology through a new sandbox initiative.