According to BlockBeats, on September 27, top trader Eugene Ng Ah Sio announced on social media that he has reduced some positions and sold certain assets. Despite the widespread fear of missing out (FOMO) in the market, he emphasized his commitment to sticking to his plan. Previously, on September 25, Eugene Ng Ah Sio shared his perspective on the bull market via social media. He stated that he does not blindly chase higher profits as prices rise. For him, the 65k to 68k range is a reasonable profit-taking zone for early buyers. He noted that many sidelined funds would likely enter the market at the 65k level, potentially marking the final push upward. Ng Ah Sio expressed his belief that the price would not surpass the 70k threshold before the upcoming elections. Therefore, he does not plan to increase his positions at this point. If the price reaches 68,000 USD, he prefers to liquidate and re-enter the market if it drops back to the 60k range.

According to a Chainalysis report, the Middle East and North Africa (MENA) region accounted for 7.5% of the global cryptocurrency trading volume between July 2023 and June 2024. The region received an estimated $338.7 billion in transactions, with the majority stemming from institutions and professional investors, as 93% of transactions were valued over $10,000. Small retail investors made up just 1.8% of the trading volume.The report also highlighted that while centralized platforms dominate on-chain activity in MENA, there is growing interest in decentralized platforms in the UAE and Saudi Arabia. The UAE has emerged as a global hub for cryptocurrency due to its clear regulatory stance and forward-thinking approach. Notably, in August 2024, the Dubai Court of First Instance recognized cryptocurrencies as a legal form of payment in employment contracts.  

The U.S. Federal Reserve's core Personal Consumption Expenditures (PCE) price index, regarded as the Fed's preferred inflation gauge, is set to be released at 20:30 tonight, according to Jinshi Data. Market expectations are leaning towards positive news, with hopes that the data will show a continued slowdown in consumer spending.Following recent statements from Federal Reserve officials, tonight's report will be closely monitored to see if it supports increasing expectations for potential interest rate cuts. This could lead to significant market volatility, and investors are advised to be cautious of potential risks.  

According to PANews, the A-share digital currency sector closed at 1388.02 points, marking a 6.39% increase. The top three gainers in this sector were Aisino Software with a 27.85% rise, Runhe Software with a 20.00% increase, and Winning Software with a 19.97% gain. The blockchain sector also saw notable growth, closing at 1022.55 points, up by 5.93%. Leading the gains in this sector were Tianji Technology with a 20.03% increase, Yinzhijie with a 20.02% rise, and East Money with a 20% gain.

The global crypto market cap is $2.31T, a 2.87% increase over the last day, according to CoinMarketCap data.Bitcoin (BTC) traded between $63,751 and $65,986 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $65,751, up by 2.88%.Most major cryptocurrencies by market cap are trading higher. Market outperformers include HMSTR, REI, and W, up by 581%, 22%, and 19%, respectively.Top stories of the day:U.S. Bitcoin Spot ETFs See $366 Million Net Inflow Yesterday, Marking Six Consecutive Days of InflowsMorocco Launches Digital Morocco 2030 Strategy With $1.1 Billion Investment Middle East Accounts for 7.5% of Global Cryptocurrency Trading Volume: Report Bloomberg: Bitcoin Set for Best Historical September Performance Amid Global Interest Rate CutsFed's Core PCE Price Index Set for Release: Markets Anticipate Positive News and Potential Volatility Revised U.S. GDP Data Shows Faster Growth in 2023 SEC Chair Gary Gensler States Bitcoin Is Not A Security U.S. Second Quarter Economic Indicators Released U.S. Initial Jobless Claims Hit Lowest Since May BlackRock Bitcoin ETF Increases Holdings by 4,460 BTC Worth $289 Million in Two DaysMarket movers:ETH: $2657.97 (+1.39%)BNB: $606.5 (+2.00%)SOL: $158 (+4.43%)XRP: $0.5893 (+0.20%)DOGE: $0.12369 (+8.81%)TON: $5.877 (+1.05%)ADA: $0.4056 (+2.66%)TRX: $0.1546 (+1.78%)AVAX: $29.95 (+7.19%)SHIB: $0.00001951 (+15.65%)Top gainers on Binance:HMSTR/USDT (+581%)REI/USDT (+22%)W/USDT (+19%)

Following a 50 basis point interest rate reduction by the Federal Reserve last Wednesday, market sentiment shifted to a bullish outlook, as discussed in our previous update. Last week, Bitcoin (BTC) traded in the vicinity of $63,000, while our team noted a significant increase in demand for altcoins during this period. Notably, meme coins and certain layer-1 tokens, such as Sui ($SUI) and NEAR ($NEAR), garnered considerable attention.Sui ($SUI) has notably outperformed in the top 100 cryptocurrencies by market capitalization. The price of SUI began its upward trajectory on September 2 at $0.74, reaching a peak of $1.76 on September 24, marking an impressive 137% increase over three weeks. A key factor contributing to this remarkable surge was the recent availability of the Grayscale Sui Trust to accredited investors.Similarly, Bittensor ($TAO) experienced a substantial 66.1% increase over the past week, with trading volume on Convert soaring by over 200%. When the Grayscale Sui Trust was introduced back in August, Grayscale Investment also introduced the Grayscale Bittensor Trust, which focuses on investing in Bittensor ($TAO). The price of TAO began its ascent on September 6 at $228, climbing to a recent high of $590 on September 24, resulting in a 160% gain within three weeks.Another layer-1 token, NEAR ($NEAR), has also seen robust demand in recent weeks, following the trend set by its competitor Sui. Grayscale Investment launched the Grayscale NEAR Trust a month prior to the Grayscale Sui Trust. While the simultaneous rallies of these three tokens may be coincidental, it is prudent to monitor their performance for potential patterns.Overall MarketThe above chart shows the BTC price movement in the 8-hour chart.As highlighted in our previous update, the market sentiment has notably shifted towards a bullish outlook following the unexpected decision by the Federal Reserve to implement a 50 basis point rate cut last Wednesday. This move marks the beginning of a rate-cut cycle, which is generally perceived as a positive signal for global liquidity. Such an environment typically encourages investors to take on more risk, thereby fostering an overall increase in risk appetite across various asset classes.In our analysis of Bitcoin (BTC), we identified critical resistance levels at $63,000 and $65,000 when the cryptocurrency was trading at approximately $61,000. These levels are clearly illustrated by the red bars in the accompanying chart. On the other hand, we have observed that the $50,000 to $52,000 range has established itself as a strong support zone, with $57,000 acting as a local support level, as represented by the green bars. Currently, the $63,000 level is functioning as a support for BTC, while the $65,000 level remains a significant point of resistance. Over the past week, the price of BTC has been fluctuating within this relatively narrow range, indicating a period of consolidation.However, our team has observed a concerning decline in upward market momentum over the last 48 hours, which has been accompanied by a notable decrease in spot market volume. This trend suggests that demand for BTC may be diminishing, while the supply around the $65,000 mark remains substantial. Such dynamics could lead to increased selling pressure if the trend continues.Looking ahead, if we were to witness a substantial upward candle in BTC price that successfully breaks through the $65,000 resistance level with significant trading volume, it would serve as a strong confirmation that bullish sentiment is indeed prevailing in the market. This breakout could potentially pave the way for a swift move towards our next target of $67,000. Should the price manage to overcome the $67,000 resistance, we anticipate a robust rally that would signal the conclusion of a six-month consolidation phase, setting the stage for further upward momentum in the cryptocurrency market. While the current market conditions present both opportunities and challenges, the key levels we are monitoring will be crucial in determining the next steps for BTC and the broader market. Investors should remain vigilant and prepared to react to any significant price movements that may arise in the coming days.Options MarketThe above chart is the 25-delta skew on BTC options in the last two weeks.The 25-delta skew serves as a valuable gauge for assessing market sentiment. By analyzing the differences in premiums between 25-delta calls and puts within the options market, this skew provides insights into the perspectives of market participants. A positive skew indicates that options traders are inclined to pay higher premiums for calls compared to puts, reflecting a preference for potential upside gains, whereas a negative skew suggests a greater inclination toward downside protection.The above chart indicates that the skew in front-end options exhibited an upward trend towards zero after the BTC price found its support at the $57k level. The bullish 50 basis point rate cut by the Fed pushed the skew of the 7-day expired option above 0. However, the front-end skew has recently transitioned into a phase of sideways consolidation, remaining just below the zero threshold. In contrast, the skews for intermediate to long-term options that continue to be above the 0 mark have shown no significant directional changes.This suggests that options traders are adopting a cautious stance regarding the short-term outlook for BTC prices while maintaining a more optimistic view for the long term. Following a drop in BTC prices below the $63,000 mark this morning, all skews experienced a decline, with the skew for the 7-day expired option falling below -2.In conjunction with our analysis of the BTC spot price, our team anticipates that BTC will likely continue to trade sideways beneath the $65,000 resistance level ahead of the US PCE Price Index data release this Friday. The market may experience volatility in response to the PCE data as investors look to it for clues about the Federal Reserve's forthcoming decisions.Macro at a glance Last Thursday (24-09-19)The Australian Employment Change for August was reported at 47.5K, a decrease from the revised figure of 48.9K in July, which was initially reported as 58.2K. This figure surpassed the consensus estimate of 25.0K. The unemployment rate remained stable at 4.2% for August.During the Bank of England's meeting on September 19, the bank rate was held steady at 5%, aligning with economists' predictions. In August, the BoE had reduced the rate by 25 basis points following a drop in the annual inflation rate below 2% in July. Despite the Federal Reserve's recent 50 basis points cut, UK policymakers chose to maintain the current rates.In the United States, initial jobless claims fell to 219,000 this week, down from 231,000 the previous week, indicating a slight improvement in the job market.Last Friday (24-09-20)The Bank of Japan decided to keep its interest rate at 0.25%. Governor Ueda indicated that the bank would take its time to assess the implications of global economic uncertainties, suggesting no immediate plans to increase borrowing costs.The UK experienced robust retail sales growth in August, with a monthly increase of 1.0% and an annual growth rate of 2.5%, both exceeding forecasts of 0.3% and 1.4%, respectively. Core retail sales also demonstrated strong performance, with a monthly rise of 1.1% and an annual growth rate of 2.3%, significantly higher than the predicted 0.5% and 1.1%.On Tuesday (24-09-24)The Reserve Bank of Australia maintained its interest rate at 4.35%. Governor Michele Bullock emphasised that interest rate cuts were unlikely in the near future, while also softening the bank's previously hawkish stance by stating that monetary tightening was not under discussion.In the United States, consumer sentiment declined in September, as reflected by the Conference Board's Consumer Confidence Index, which fell to 98.7 from 105.6 in August. On Wednesday (24-09-25)The new home sales in the US reached 716,000 in August, surpassing the forecast of 699,000, although this represented a decrease from July's figure of 751,000.Convert Portal Volume ChangeThe above table shows the volume change on our Convert Portal by zone. Following the 50 basis points reduction implemented by the Federal Reserve last Wednesday, our desk experienced a notable surge in trading volume across various sectors. While Bitcoin fluctuated between $62,000 and $65,000, there was a marked increase in interest from investors and traders in altcoins. In the Monitoring Zone, trading volume surged by 156.3%, with ARK ($ARK) and Beta Finance ($BETA) being the primary contributors to this impressive growth. Simultaneously, the Solana Zone recorded a 139.6% rise in volume following the price of Solana ($SOL) climbed above $150. There was a strong demand for meme coins within the Solana network, particularly for Book of MEME ($BOME) and Dogwifhat ($WIF). Furthermore, the AI Zone has seen a strong trading volume increase for two consecutive weeks, primarily driven by strong interest in Bittensor ($TAO) and Worldcoin ($WLD).Why trade OTC?  Binance offers our clients various ways to access OTC trading, including chat communication channels and the Binance OTC platform (https://www.binance.com/en/otc) for manual price quotations, Algo Orders, or automated price quotations via Binance Convert and Block Trade platform (https://www.binance.com/en/convert) and the Binance Convert OTC API. Email: trading@binance.com for more information.Join our Telegram (https://t.me/BinanceOTC) to stay up to date with the markets!

According to CoinDesk, TIA, the token of the data-availability blockchain network Celestia, has posted its best monthly gain this year, significantly outperforming the broader market. This surge comes despite traders positioning for a price drop due to a $1.13 billion token unlock scheduled for October 31. The token has surged by 40%, the largest increase since December 2023, compared to a 13% gain in the CoinDesk 20 Index, which measures the largest and most liquid cryptocurrencies. The upcoming token unlock will release 175.74 million TIA, representing 16% of the cryptocurrency's total supply and worth $1.13 billion, or 82% of its market capitalization, according to CryptoRank. Such large unlocks typically create bearish pressures in the market. Jake Ostovskis, an over-the-counter trader at Wintermute, noted an increase in TIA hedging demand ahead of the unlock, both via exchange-traded perpetuals and OTC forward agreements with market makers and trading desks. The bias for short positions, likely due to hedging activity, may have led to a 'short squeeze,' contributing to the TIA rally. A short squeeze occurs when the asset price remains resilient, forcing bears to close their positions, which in turn puts upward pressure on prices. Ostovskis mentioned that traders had been selling ahead of the unlock event since July, suggesting that the squeeze had already occurred. This is evident from the recovery in funding rates tied to TIA perpetuals, which have rebounded to nearly zero, indicating a neutral stance after being negative since July. Additionally, a $100 million fundraise announced this week likely provided further upward momentum, encouraging bears to exit their short positions. The fresh round raised the foundation's cash stash to $155 million, although the team did not specify how the funds would be used. Some observers suggested the fundraising was an OTC deal at a $3.4 billion valuation, with the token sale priced at $3 and one-third of the tokens to be unlocked on October 31. Ostovskis noted that the impending unlock might have been priced in, with some commentators viewing the OTC sales as controversial. However, he argued that the removal of a large cliff and the pre-hedging unlocks have been positive overall, allowing the market to price in the event in advance.

According to BlockBeats, on September 27, Hong Kong Securities and Futures Commission (SFC) Chairman Tim Lui addressed an event, highlighting the steady operation of Hong Kong's first virtual asset spot exchange-traded funds (ETFs) since their launch in April. The market value of these ETFs has now exceeded $300 million. Additionally, the introduction of Asia's first virtual asset futures ETF allows retail investors to manage related risks, which Lui believes will drive the continued advancement of Hong Kong's financial market.Lui emphasized that as a financial hub, Hong Kong must continue to enhance its resilience through innovative technologies and sustainable finance. He noted the potential advantages of blockchain technology, such as reducing transaction costs, with asset and securities tokenization being a primary use case. The SFC is currently working closely with the Hong Kong Monetary Authority to explore more tokenization use cases, aiming to establish a related ecosystem. Lui also cautioned about the significant volatility risks associated with virtual assets, advising that they should not be considered investment recommendations. However, recognizing that both professional and retail investors have different risk appetites and invest in virtual assets through various channels, the SFC decided to introduce a regulatory framework to oversee the activities of these trading platforms.

According to BlockBeats, on September 27, ZK ecosystem tokens experienced notable price increases. TAIKO is currently priced at $1.91, reflecting a daily increase of 9.7%. ZKL has surged to $0.165, marking a significant daily rise of 61.2%. CHEQ is now valued at $0.03764, with a daily gain of 19.6%.

According to Foresight News, Web3 football game Sorare has been accused of unlicensed gambling by the UK Gambling Commission. The commission stated that Sorare is alleged to have provided gambling facilities without holding an operating license, which is a violation of the 2005 Gambling Act. A court hearing is scheduled for October 4.Sorare has contested the allegations, arguing that the law has been misapplied. The company stated, 'The commission has misunderstood our business and incorrectly believes that gambling laws apply to Sorare. We firmly deny any claims that Sorare is a gambling product under UK law.' Sorare is a football fantasy league game that utilizes the Ethereum blockchain, allowing players to trade football cards.

According to BlockBeats, on September 27, market data indicates that CFX has surpassed the $0.18 mark. The current price stands at $0.1885, reflecting a 24-hour increase of 19.23%.

According to PANews, EMC Labs, a crypto fund management institution, has released a detailed analysis on the X platform, indicating that the six-month adjustment period in the crypto market has concluded, and the bull market is set to resume its second half. EMC Labs' assessment is based on multiple factors, including monetary expansion, adjustments in the U.S. stock market, internal market structure, and on-chain activities. The analysis highlights that three out of the four major global central banks have adopted monetary easing policies, leading to a continuous rise in global asset prices.EMC Labs notes that the U.S. stock market had already priced in this year's interest rate cuts since last year, resulting in significant volatility around the time of the rate cuts. With the adjustments now largely complete, the market is beginning to climb steadily, alleviating the pressure on BTC ETF prices. During the adjustment period, over $37.8 billion in funds flowed into the market, absorbing selling pressure and raising the short-term cost price of BTC to around $64,000. According to EMC Labs' proprietary engine, eMerge, the cycle index has reached 0.75, indicating that BTC has entered a moderate expansion phase in terms of distribution structure and on-chain activities. However, the biggest concern remains whether the U.S. economy will experience a 'hard landing.'EMC Labs also predicts that in the second half of the bull market, altcoins will outperform BTC. The focus will be on blockchain infrastructure and Web3 applications that represent industry development directions, possess technological or model innovations, have user acquisition capabilities, and feature token-friendly models.

According to PANews, financial markets continued to rise on Thursday. Data from the U.S. Department of Labor showed that initial jobless claims for the week ending September 21 were 218,000, the lowest since May and below expectations, indicating a resilient labor market. Additionally, durable goods orders for August remained flat, defying expectations of a decline, and the second-quarter GDP held steady at 3%. These figures bolstered investor confidence in the fundamental strength of the U.S. economy.Bitpush data revealed that amid a return of risk appetite, Bitcoin bulls successfully broke through $65,000, reaching a high of $65,887 in the afternoon before slightly retreating. At the time of writing, Bitcoin was trading at $65,235, up 2.84% over the past 24 hours. Most altcoins in the top 200 by market capitalization also continued to rise. Shiba Inu (SHIB) led the gains with a 21% increase, followed by Ethena (ENA) up 17.5%, and Wormhole (W) up 16.6%. On the downside, Hamster Combat (HMSTR) fell 31.3%, Bittensor (TAO) dropped 6.1%, and Baby Doge Coin (BabyDoge) decreased by 5.1%. The overall cryptocurrency market capitalization currently stands at $2.29 trillion, with Bitcoin's market dominance at 56.3%.At the close of the day, the S&P 500, Dow Jones, and Nasdaq indices all rose, gaining 0.40%, 0.62%, and 0.60%, respectively.Bitcoin and PCE ReportTradingView analyst Arman Shaban noted that given Bitcoin's recent rise on the weekly chart to the anticipated $65,000 level, strong support is at $52,750, with the price not falling below $49,000. In this context, Bitcoin's short-term targets are $67,700 and $71,800. Additionally, based on previous analysis, Bitcoin's mid-term target is $80,000.The core Personal Consumption Expenditures (PCE) price index report, which directly influences the Federal Reserve's monetary policy decisions, is set to be released tomorrow. Shaban stated that if the core PCE data meets or falls below expectations (0.2%), the market may experience less pressure for rate hikes, benefiting high-risk assets like Bitcoin as investors turn to digital and high-risk assets amid controlled inflation and looser monetary policy.Shaban added that if the core PCE aligns with expectations, Bitcoin could continue its upward trend, reaching short-term targets of $67,700 and $71,800. In the mid-term, as inflation concerns ease and interest rates stabilize, Bitcoin could further strengthen, potentially reaching $80,000. However, if the core PCE data exceeds expectations, indicating higher-than-expected inflation, the Federal Reserve may opt for more aggressive tightening measures. Shaban warned that this could strengthen the dollar and exert short-term pressure on risk assets like Bitcoin. In such a scenario, Bitcoin might experience some downward fluctuations, with potential support levels at $62,000 and $60,000. Given Bitcoin's strong fundamental demand and technical factors, such fluctuations are likely to be temporary, with Bitcoin expected to eventually resume its upward trajectory.Based on currently available economic data, the most likely scenario is that the core PCE will meet or fall below expectations, potentially providing further upward momentum for the cryptocurrency market.

According to BlockBeats, on September 27, data from Alternative indicates that the cryptocurrency Fear and Greed Index has reached 61, up from 50 the previous day. This marks the highest market sentiment in nearly two months, returning to a state of 'greed' after a month. The Fear and Greed Index ranges from 0 to 100 and is composed of several indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the market (10%), and Google Trends data (10%).

According to PANews, Greeks.live macro researcher Adam announced on the X platform that 89,000 BTC options are set to expire, with a Put Call Ratio of 0.64 and a maximum pain point of $59,000, amounting to a nominal value of $5.8 billion. Additionally, 718,000 ETH options are also nearing expiration, with a Put Call Ratio of 0.47 and a maximum pain point of $2,500, totaling a nominal value of $1.9 billion. Adam further analyzed that today marks the third-quarter settlement, and the recent three-week rally in cryptocurrencies has been significantly influenced by the Federal Reserve's 50 basis point rate cut, which has greatly boosted market confidence. As the third quarter comes to an end, historical data suggests that the fourth quarter generally performs well. This year, the U.S. presidential election and two more rate cuts are expected to provide numerous trading opportunities. The quarterly settlement will lead to substantial position shifts and margin releases, with implied volatility (IV) across major maturities remaining low. As the quarterly settlement concludes, IV is likely to face downward pressure, making the next two weeks an opportune time to position for the fourth quarter.

According to BlockBeats, Morocco has announced the launch of its 'Digital Morocco 2030' strategy, allocating a budget of $1.1 billion. The initiative aims to transform the country into a global digital hub through the integration of artificial intelligence (AI) and blockchain technology. By 2030, the strategy seeks to create 240,000 new jobs in the digital sector, increase digital export revenues to 40 billion dirhams (approximately $4.15 billion), and boost the overall contribution of the digital economy to 100 billion dirhams (around $10.36 billion).The Moroccan government plans to utilize blockchain technology to develop a unified administrative service portal, which will manage services related to healthcare, education, and social security. Additionally, AI systems will be employed to analyze and process data in real-time, enhancing the quality of these services. The strategy also includes increasing 5G coverage to 70% of the country's land area, establishing 3,000 startups, and attracting global AI and blockchain technology companies to set up operations in Morocco, thereby contributing to the nation's growing tech ecosystem.

According to BlockBeats, on September 27, Federal Reserve Governor Cook expressed her wholehearted support for the Fed's recent decision to cut interest rates by 50 basis points. In her prepared remarks at Ohio State University on Wednesday, Cook cited a slowing labor market and easing inflation as key reasons for the rate cut. She emphasized that this decision reflects the Fed's growing confidence in maintaining a robust labor market while achieving moderate economic growth and sustainable inflation reduction through appropriate policy adjustments.Cook's speech also focused on the implications of artificial intelligence (AI) for American workers. She highlighted that AI has the potential to significantly and sustainably boost labor productivity. While acknowledging that AI might lead to job displacement, Cook also pointed out that it could create new job opportunities.

On Sep 26, 2024, 10:27 PM (UTC), according to Binance Market Data, Bitcoin (BTC) dropped below 65,000 USDT and is now trading at 64,967.300781 USDT, with a narrowed 2.51% increase in 24 hours.

According to Cointelegraph, AVAX, the native token of the Avalanche ecosystem, has shown resilience, rising 3.45% over the last 24 hours amid increasing excitement about the blockchain’s first major upgrade. Data from Cointelegraph Markets Pro and TradingView indicates that the AVAX token broke through the 200-day exponential moving average (EMA) on Sept. 26, reaching an intraday high of $29.10. At the time of publication, the layer 1 token trades at $28.91, up 10% over the last week and 12.5% over the last 30 days. Several factors behind AVAX’s bullishness include developments surrounding the upcoming Avalanche9000 upgrade, a surge in network activity, and a strengthening market structure. The Avalanche Foundation has announced a $40 million grant program to support developers building layer-1 blockchains on the Avalanche network. Named Retro9000, the program aims to encourage developers to build on the Avalanche network ahead of the much-anticipated Avalanche9000 upgrade. The upgrade, described as the “largest network upgrade” since the blockchain’s mainnet debut in September 2020, is set to foster scalability, enhance cost-efficiency, and increase developer experience. From a technical perspective, AVAX trades above an important demand area stretching from $27 to $28.65, with the 200-day EMA lying within this zone, suggesting robust support on the downside. Buyer congestion around this support level is likely to propel AVAX higher, potentially rising toward the May 22 range high of $41.78, representing a 42% uptick from current levels. Onchain data from IntoTheBlock reinforces the significance of this support zone, showing that AVAX sits on relatively robust support compared to the resistance it faces in its recovery path. Further validating the positive outlook for AVAX is the total value locked (TVL) data, reflecting growth within the project’s ecosystem. According to DefiLlama, Avalanche’s TVL has increased from $717.4 million on Aug. 5 to the current value of $1 billion, representing a 43.5% increase. The AVAX price has increased by more than 50% over the same period. This increase in TVL signifies growing user interaction with the blockchain, leading to higher demand for the AVAX token, which is usually a precursor for substantial price growth. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

According to Odaily, the cryptocurrency MOODENG has experienced a notable increase in its value. The latest market data indicates that MOODENG has reached $0.146, marking a 24-hour rise of 63.2%. This surge has propelled its market capitalization to over $144 million.