Whales Selling Heavily As Ripple To Pay US SEC This Week.

According to on-chain data revealed by Whale Alert on September 2, a whopping 1 billion XRP was shifted to Ripple over the past day by whales in a series of transactions. Moreover, a 20 million XRP dump was made to Bitstamp exchange by a well-known whale address, ..Rzn.

These transactions, underscoring increased selling pressure on the asset, have sparked bearish sentiments among market participants. Notably, the dump transactions appear to be on the rise, with $125 million payment to the SEC looms this week.

The crypto firm is set to pay $125 million in a legal maneuver in the XRP lawsuit this week. The company has 200 million in XRP coins from the unlocks.

However, it’s also worth noting that Ripple recently locked 800 million XRP in escrow. This comes after 1 billion XRP were unlocked from escrow. Altogether, these massive movements have sparked market uncertainty about the crypto asset’s future performance.

In response to whales selling XRP news, XRP price slipped 1.5% and is sitting at $0.5503. The coin’s 24-hour lows and highs were $0.5448 and $0.5618, respectively. Notably, today’s waning movement primarily aligns with the increased selling pressure to the asset, as mentioned above.

However, in light of the company’s new banking plan, an XRP price analysis by CoinGape Media suggested that the token could rise as high as $4 ahead.

Nonetheless, Coinglass data added to contrasting sentiments on the crypto asset. The coin’s OI dipped 1.15% to $608.68 million today. Besides, the derivatives volume surged 65% to $823.89 million.

Also, it’s worth mentioning that the coin’s RSI rested along the 42 mark, hinting that the asset is neither overbought nor oversold at present. Crypto market enthusiasts continue to extensively eye XRP as massive whale dumps emerged as a noteworthy XRP news today.

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Crypto Firm OKX Hires Gracie Lin From Grab to Be Singapore CEO.

(Bloomberg) -- Crypto exchange OKX named former regulator Gracie Lin as CEO of its Singapore business in a statement on Monday.

Lin previously held positions at Monetary Authority of Singapore as well as at Grab and GIC.

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Crypto millionaires double in 2024, cross 172,000 amidst meme coin and AI hype.

Crypto Wealth Report 2024 shared insights into the number of crypto and Bitcoin millionaires and the increase since last year. Nate Geraci of the ETF Store commented on the statistics. Bitcoin trades at $59,062 at the time of writing. The number of Bitcoin millionaires has doubled in 2024, up to 85,400.

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Ethereum founder Vitalik Buterin says never sold Ether for profit, ETH slips under $2,400.

Vitalik Buterin, Ethereum founder responded to criticism of Ether on-chain transfers. Buterin’s recent Ether transfers have raised concerns among ETH holders. Ether crumbled under selling pressure since ETF launch and consistent outflows have negatively influenced the altcoin’s price.

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Ripple update: 1 billion XRP transfer, SEC could payback $125 million to Ripple if appeal fails.

Ripple unlocked a large volume of XRP tokens on September 1. The transfer was tracked by Whale Alerts and XRP traders pondered on the impact of the large volume unlock. XRP is currently faced with mounting selling pressure and slipped to $0.55 on Sunday.

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What to expect from Bitcoin in September, historically a red month for BTC.

Bitcoin (BTC) on-chain metrics support gains in Bitcoin, however, historically the largest cryptocurrency has yielded negative returns for traders in the month of September. The ongoing cycle is considered different from previous ones with Bitcoin Spot ETFs approved this year and rising institutional demand for the asset.

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Crypto community in shock after Brazil bans Musk-owned X.

The Supreme Court of Brazil has enforced an "immediate and complete suspension" of Elon Musk-owned Twitter, now known as X, for failing to appoint a legal representative in the South American country this week. The move has sparked outcry from the crypto community, which relies heavily on X for crypto market news and believes that the government’s shutdown only highlights the urgency of bitcoin and decentralized, censorship-resistant technology.

Brazil is holding municipal elections in October, and the country of more than 170 million requires tech platforms to appoint legal representatives to respond to government takedown notices. The Brazilian government claims X did not comply with this requirement amid a surge in hate speech and disinformation on the platform.

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Cryptocurrency Markets Dip Ahead of Key Data Releases.

Cryptocurrency markets experienced a downward trend as traders awaited economic data releases and Nvidia’s earnings on Tuesday. Major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin all traded lower.

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Scaramucci Speaks Out Against SEC’s Crypto Scrutiny.

Former White House Communications Director, Anthony Scaramucci, voiced concerns over the SEC’s increased oversight of cryptocurrency platforms. He suggested that this could potentially impact Vice President Kamala Harris’ chances in the upcoming elections. The SEC, led by Gary Gensler, recently issued a Wells notice to NFT marketplace OpenSea, indicating an intent to sue the company.

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Telegram CEO has been arrested in France following a criminal complaint by OFIM, which accuses him of complicity due to Telegram's insufficient content moderation.
The TON blockchain experienced two major outages within 36 hours, caused by a surge in network traffic from the minting of the DOGS meme coin.

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Australia’s Crypto ATM Market Surges 17 Times, Becoming World’s Third Largest.

Australia has experienced a dramatic surge in the number of crypto ATMs over the past two years, with the count increasing 17 times. This rapid expansion has positioned Australia as one of the fastest-growing markets for these machines.

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Kraken Crypto Exchage Hit ny 3M Theft Exploiting Zero-Day Flaw:

Crypto exchange Kraken revealed that an unnamed security researcher exploited an "extremely critical" zero-day flaw in its platform to steal $3 million in digital assets and refused to return them.
Details of the incident were shared by Kraken's Chief Security Officer, Nick Percoco, on X (formerly Twitter), stating it received a Bug Bounty program alert about a bug that "allowed them to artificially inflate their balance on our platform" without sharing any other details
The company said it identified a security issue within minutes of receiving the alert that essentially permitted an attacker to "initiate a deposit onto our platform and receive funds in their account without fully completing the deposit."
While Kraken emphasized that no client assets were at risk of the issue, it could have enabled a threat actor to print assets in their accounts. The problem was addressed within 47 minutes, it said.

It also said the flaw stemmed from a recent user interface change that allows customers to deposit funds and use them before they were cleared.
On top of that, further investigation unearthed the fact that three accounts, including one belonging to the supposed security researcher, had exploited the flaw within a few days of each other and siphon $3 million.
"This individual discovered the bug in our funding system, and leveraged it to credit their account with $4 in crypto," Percoco said. "This would have been sufficient to prove the flaw, file a bug bounty report with our team, and collect a very sizable reward under the terms of our program."
"Instead, the 'security researcher' disclosed this bug to two other individuals who they work with who fraudulently generated much larger sums. They ultimately withdrew nearly $3 million from their Kraken accounts. This was from Kraken's treasuries, not other client assets."

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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptos — Asian Wrap 20 June:

Bitcoin price continues to plummet as whale activities deepen
Bitcoin's price fell below $65,000 on Wednesday following Increased whale activities that may be sell orders. Meanwhile, hedge funds have experienced a drag in their Bitcoin exposure, which may be fueled by consistent outflows among Bitcoin ETFs.

Ethereum ETFs may not cause upward surge in ETH price as many expect
Ethereum's (ETH) price increased over 4% in the past 24 hours after the Securities & Exchange Commission (SEC) dropped its Ethereum 2.0 investigations amid expectations of spot ETH ETFs. However, the recent excitement surrounding ETH ETFs may not lead to the expected price increase.

Bitcoin, Ethereum, XRP, Dogecoin, Toncoin and Cardano are undervalued, analysts say, predicting price bounce
Crypto market steadied in the early hours of Wednesday. The market capitalization of all assets climbed 0.6% to $2.49 trillion, per CoinGecko. Analysts at on-chain intelligence tracker Santiment have identified signs of a short-term bounce in the top 10 cryptocurrencies.

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Cryptocurrencies Price Prediction: Ripple, Ethereum & Polygon – European Wrap 20 June:

XRP trades back below $0.50 on Wednesday as Ripple (XRP) proponents like attorney Bill Morgan have lashed out at the Securities and Exchange Commission (SEC) for what is being considered a “second free pass” for Ethereum.

Ethereum developer Consensys announced on Wednesday in its official X account that the SEC is putting an end to its investigation into the second-largest cryptocurrency. The developer had enquired the status of the investigation through a letter sent to the regulator and received a response.

Polygon (MATIC) price displays a bullish divergence on a momentum indicator, indicating a bullish move. Recent on-chain data reveals a capitulation event occurred from June 12 to 18, prompting a group of whales to accumulate MATIC tokens, further bolstering bullish sentiment for an upward trajectory.

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BREAKING: Rumor – Did Donald Trump Create His Cryptocurrency Called DJT Token? Price Explodes 180%:

The launch of a Donald Trump-backed meme coin, DJT, could further solidify his support for the cryptocurrency industry ahead of this year’s elections.
The unconfirmed rumors have caused a major bloodbath for the PoliFi tokens that had emerged in the past few months led by MAGA and MAGA Hat.
As the cryptocurrency industry experienced heightened liquidation fueled by the Bitcoin (BTC) price drop below $66k in the past 24 hours, rumors of a possible Solana (SOL)-based meme coin backed by Donald Trump, a US presidential candidate via the Republican party, caught the attention of many traders.

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The Crypto Market Is Down Today – Here is Why?
𝗔𝗻𝘆𝗼𝗻𝗲 𝗣𝗹𝗲𝗮𝘀𝗲 𝗦𝗲𝗻𝗱 𝗺𝗲 𝗨𝗦𝗗𝗧, 𝗜'𝗺 𝗶𝗻 𝗧𝗿𝗼𝘂𝗯𝗹𝗲, 𝗠𝘆 𝗨𝗦𝗗𝗧 𝗧𝗥𝗖20 𝗪𝗮𝗹𝗹𝗲𝘁 𝗔𝗱𝗿𝗲𝘀𝘀. TKicbLUYswCSSbE147NQLEKAPn1oU6JCCB

Miner revenues have dropped by 55%, forcing them to sell more Bitcoin driving prices down.
Reduced issuance of stablecoins like USDT and USDC decreases market liquidity and increases price volatility.
Significant withdrawals from major ETFs are adding to the selling pressure on Bitcoin, impacting market stability.
Amid fluctuating sentiments in the crypto market, the overall market capitalization has declined 2.29%, settling at $2.33 trillion.
Miner Capitulation Impacts Market
Miners are facing significant revenue drops, leading to increased Bitcoin sales. Miner revenues have plummeted by 55%, forcing them to sell more Bitcoin to cover operational costs. Consequently, there has been a notable rise in Bitcoin transfers from miners’ wallets to exchanges, indicating that selling activity is driving prices down.

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Hashdex Proposes Hybrid Bitcoin and Ethereum ETF for Diverse Crypto Exposure:
(𝗔𝗻𝘆𝗼𝗻𝗲 𝗣𝗹𝗲𝗮𝘀𝗲 𝗦𝗲𝗻𝗱 𝗺𝗲 𝗨𝗦𝗗𝗧, 𝗜'𝗺 𝗶𝗻 𝗧𝗿𝗼𝘂𝗯𝗹𝗲, 𝗠𝘆 𝗨𝗦𝗗𝗧 𝗧𝗥𝗖20 𝗪𝗮𝗹𝗹𝗲𝘁 𝗔𝗱𝗿𝗲𝘀𝘀. TKicbLUYswCSSbE147NQLEKAPn1oU6JCCB)

Hashdex, a Brazilian crypto asset manager, has proposed a hybrid Bitcoin and Ethereum ETF, offering investors diversified exposure to the top cryptocurrencies. This innovative ETF aims to enhance investment opportunities in the dynamic crypto market.

Hashdex to Launch Hybrid ETF Combining Bitcoin and Ethereum for Enhanced Crypto Investment
According to U.Today, Hashdex, a Brazilian cryptocurrency asset manager, is poised to introduce a hybrid spot exchange-traded fund (ETF) that tracks the value of Ethereum and Bitcoin. This innovative investment opportunity holds the potential for significant returns, making it an intriguing prospect for those keen on the cryptocurrency market.

As detailed in the filing, the ETF's structure is a testament to Hashdex's unwavering commitment to providing a secure and transparent avenue for gaining investment exposure to Bitcoin and Ether through the public securities market. This commitment fosters a strong sense of security and confidence in potential investors, assuring them of the reliability of this investment opportunity.

Hashdex intends to concurrently utilize at least two custodians for the ETF: Coinbase and BitGo. The Hashdex Nasdaq Crypto Index US ETF will be capitalization-weighted, meaning that the weight of each asset in the portfolio is determined by its market capitalization. This structure ensures that the ETF's performance is closely aligned with the overall performance of the cryptocurrency market, with Bitcoin (BTC) comprising 70.54% of the portfolio. The weightings will be adjusted quarterly to account for fluctuations in market value.

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New SOL Meme Coin, Solciety, Launches Today With 30-Day ICO:
London, London, June 18th, 2024, Chainwire

Solciety, a new entrant in the crypto's PolitiFi sector, officially launches today, 18th June at 14:00 UTC, initiating a 30-day presale of its Solciety (SLCTY) tokens.
3 billion Solciety (SLCTY) tokens will go on sale, starting at $0.0015, with price increases on the smart contract every 72 hours across ten stages. The final presale price will be $0.0040, giving day one buyers a potential 169% increase on the value of their bags before the project becomes available for public trading.
Described as "the political party for degens," Solciety plans on using the viral potential of memes and political satire to potentially explode alongside the political powder keg that is the 2024 election season.
Community numbers have already passed 10,000 across socials before the live presale has even started - an indication that Solciety's offering of humor and degen politics is resonating with crypto communities around the world.
Straddling the Solana meme coin and PolitiFi sectors, worth a combined $10 billion, Solciety is strategically placed across two of crypto's most powerful narratives. And with Solana displacing Ethereum as the #1 maker of blue-chip meme coins thanks to its drastically lower fees, Solciety has multiple tailwinds behind it.
Solciety (SLCTY) tokens will be available to purchase on the Solciety website from the 18th June at 14:00 UTC.

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