🪙 Thanks to the prominence of PEPE and PNUT, meme coins are dominating over Altcoins
🚀 Meme coins are currently ruling the cryptocurrency market, particularly due to the prominence of coins like PEPE, PNUT, and Dogecoin.
✅ These coins have quickly attracted the attention of investors thanks to special factors such as entertainment value, strong virality, and a large fan community.
✅ Unlike traditional cryptocurrencies or altcoins that focus on technology, such as Ethereum or Solana, meme coins often do not have a clear practical application or complex technical foundation. Instead, their value is primarily based on virality, humor, and accessibility.
✅ One reason meme coins easily attract interest is that their initial value is often very low. This allows retail investors or newcomers to the market to own a large amount of the coin with a small capital, while hoping for a strong price increase if the coin gains recognition and attracts more investors.
✅ The popularity of meme coins is also strongly driven by social media and online platforms, where fan communities can quickly spread news, even creating explosive investment waves.
✅ Successful meme coins are often not just products of blockchain technology but also cultural phenomena. Dogecoin is a prime example, which went from a joke to a global phenomenon with support from many celebrities, such as Elon Musk.
🪙4 Important Signs That Predict Bitcoin's Timeline
The continued rise of Bitcoin (BTC) has led many investors to expect that the coin will reach $100,000 in the near future.
🚀 Bitcoin Monthly RSI
✅ According to in-depth analysis from @thescalpingpro, the monthly RSI (Relative Strength Index) has shown its ability to accurately predict past price peaks of Bitcoin. RSI is an essential technical analysis tool that helps investors determine whether the market is overbought or oversold.
⭐️ On-chain Signal: Cyclical PnL Index
✅ Ki Young Ju, CEO of CryptoQuant, pointed out a notable on-chain indicator called Cyclical PnL Index. He emphasized that predicting a Bitcoin price correction is not an easy task, especially in a volatile and emotional market. He said: “The investment fever can last indefinitely, so I will enjoy the uptrend until the bearish signs appear.”
🛸 Technical and On-Chain Composite Index: CBBI
✅ CBBI (Crypto Bull and Bear Index) is an index that synthesizes 9 signals from both technical and on-chain analysis. When CBBI crosses the 90 point level, it usually indicates that Bitcoin is about to undergo a strong correction.
🏆 Fear and Greed Sentiment Index
✅ The Fear and Greed Index is a familiar index in the investment community. This index is often based on the philosophy of “being fearful when others are greedy”.
U.S. elections push 🪙 Bitcoin to 74,000 USD. Will the upward trend continue?
🚀 U.S. elections push Bitcoin price to 74,000 USD. Will the upward trend continue? Have you ever wondered why political events can have a strong impact on the value of cryptocurrencies like Bitcoin? During the U.S. elections, the price of Bitcoin surged to 74,000 USD, raising many questions about the future of this currency. The benefits from this increase are not limited to just rising prices; it also opens up investment opportunities and asset protection in the context of economic instability.
✅ However, these waves also bring significant risks for investors. To better understand these fluctuations, let's explore useful information from the Crypto Tribe, a website specializing in providing news about crypto and the cryptocurrency market.
🚀 Current Bitcoin price situation
✅ Bitcoin price reaches 74,000 USD. Recently, the price of Bitcoin has reached 74,000 USD, attracting significant attention from investors and players in the cryptocurrency market. This increase not only reflects investment trends but is also influenced by many external factors.
📢 [HOT] Under the leadership of Gary Gensler, the SEC has caused $426 million in losses for cryptocurrency companies
✅ Under the leadership of Gary Gensler, the U.S. Securities and Exchange Commission (SEC) has conducted several campaigns aimed at monitoring and regulating cryptocurrency companies. However, according to recent information, some assessments suggest that the SEC's decisions and actions over the past time have led to significant losses for companies in this industry, estimated at up to $426 million.
✅ These regulatory measures are often considered necessary to protect investors and maintain market stability. However, some analysts point out that these regulations could hinder the development of cryptocurrency companies, slowing innovation and competition in this field.
✅ The content of the regulations and the strictness of enforcement can create an unfriendly environment, leading some companies to halt operations or suffer significant financial losses. This has sparked a lively debate about the necessary regulations in a booming yet risky industry like cryptocurrency.
🪙 The Impact of Tether's Bitcoin and Gold Reserves
✅ Tether's active maintenance of reserves in Bitcoin and gold not only helps strengthen user confidence but also creates a significant impact on the cryptocurrency market. When Tether holds substantial liquid assets like Bitcoin and gold, it becomes an essential part of the cryptocurrency ecosystem, influencing the liquidity and value of these assets.
🚀 Bitcoin Reserves
✅ Tether currently holds over 82,000 BTC, with a total estimated value reaching billions of US dollars. Accumulating a large amount of Bitcoin helps Tether:
✅ Diversify reserves: Bitcoin is seen as a potential store of value that can withstand market fluctuations and inflation. Increase liquidity: Bitcoin is an easily convertible asset in the cryptocurrency market, allowing Tether to respond quickly to USDT redemption requests.
✅ Build trust: Holding Bitcoin increases transparency and trust from the community, especially when Tether faces demands for reserve transparency.
🚀 Gold Reserves
✅ Tether also holds about 42 tons of gold, worth billions of US dollars, helping:
✅ Stabilize USDT's value: Gold is considered a safe asset, especially during times of economic uncertainty. Holding gold makes Tether's reserves less susceptible to price fluctuations of digital assets.
✅ Protect against inflation: With gold's value-retaining characteristics, Tether can ensure the long-term value of its reserves, providing protection for USDT even when fiat currencies depreciate.
✅ Token unlocks are related to the release of previously locked tokens under fundraising terms. Projects schedule unlocks carefully to avoid market pressure and prevent token prices from dropping.
🚀 1. Celestia (TIA)
✅ Celestia (TIA) is a Layer 1 project focused on building a modular blockchain aimed at enabling developers to easily create separate blockchains that can still interact flexibly with each other.
🚀 2. Optimism (OP)
✅ Optimism (OP) is a Layer 2 solution built on Ethereum to improve scalability and reduce transaction fees, while maintaining the security of the Ethereum network.
🚀 3. Sui coin (SUI)
✅ Sui (SUI) is a Layer 1 blockchain aimed at addressing performance and scalability issues faced by many current blockchain networks.
🚀 4. Immutable (IMX)
✅ Immutable (IMX) is a Layer 2 solution on Ethereum, developed to support applications and transactions related to NFTs, particularly in the gaming sector.
🚀 5. ZetaChain (ZETA)
✅ ZetaChain (ZETA) is a Layer 1 blockchain focused on cross-chain connectivity, allowing users and decentralized applications (DApps) to easily interact with various blockchains without complex bridges.
📣 4 Macroeconomic Events in the U.S. 🇺🇸 Affecting Bitcoin
✅ 1. GDP Report for Q3 2024.
On Wednesday, October 30, the U.S. Department of Commerce will release the Gross Domestic Product (GDP) report for Q3. According to forecasts, GDP may achieve an average growth rate of 3.2%, up from 3.0% in the previous quarter. Notably, according to an estimate model from the Fed Atlanta, the U.S. economy could grow as much as 3.3%.
✅ 2. Nonfarm Payrolls.
Nonfarm (or Nonfarm payroll) is an index measuring the change in the number of employees in the U.S. each month, excluding those in agriculture, household jobs, and the military. Typically, the U.S. Department of Labor releases the nonfarm index report on the first Friday of each month.
✅ 3. Earnings of Mega-cap Companies.
Earnings reports from large companies released this week will also be the focus of investors' attention. The reports will be released sequentially after the market closes (AMC) from major names like Alphabet (GOOGL), Microsoft (MSFT), Meta (META), Amazon (AMZN), and Apple (AAPL).
✅ 4. U.S. Presidential Election.
The U.S. presidential election is approaching, and the latest polling results indicate that the race between incumbent Vice President Kamala Harris and former President Donald Trump is very tight. According to a nationwide survey conducted by CNN/SSRS from October 20 to 23, both candidates currently receive 47% support from voters.
📣 There is suspicious information about a Vietnamese individual developing a fake Curve Finance application to scam
✅ Recently, there has been suspicious information about an individual in Vietnam possibly developing a fake Curve Finance application with the intent to scam. Curve Finance, one of the well-known DeFi (decentralized finance) platforms, often attracts the interest of many investors both domestically and internationally. The emergence of this fake application could have serious consequences for users if they are not vigilant.
✅ To protect yourself from such scams, users should follow these measures:
✅ Check the reliability of the application: Before downloading any application, check the reviews and consider its origin. Only use applications officially released from trusted websites or app stores.
✅ Do not provide personal information: Always be cautious when required to enter account information, especially when the application asks for sensitive information such as passwords or credit card numbers.
✅ Reject suspicious transactions: If you notice any unusual activity or investment requests from applications of unclear origin, refuse to participate.
✅ Consult the community: Join forums or discussion groups about DeFi to stay updated and timely identify scam risks.
🪙 ETH Price Likely to Hit $3,300 Due to Many Positive Market Factors
🚀 Ethereum (ETH) price is currently receiving a lot of attention from investors, and is likely to hit $3,300 in the near future thanks to many positive market factors. Here are some of the main reasons for this trend:
✅ Technological advancement: Ethereum is constantly updating and improving its ecosystem through upgrades such as Ethereum 2.0. The transition from Proof of Work (PoW) to Proof of Stake (PoS) mechanism not only reduces energy consumption but also improves scalability and network performance.
✅ Growth of DeFi and NFT: The growth of decentralized finance (DeFi) applications and non-fungible tokens (NFTs) often built on the Ethereum platform, creating high demand for ETH. This could boost the value of ETH as more new projects launch.
✅ Widespread adoption: Many large companies and financial institutions are gradually adopting ETH in their operations, from investing in the coin to integrating blockchain solutions into their business models.
✅ Rising trading volumes: Trading volumes on exchanges are increasing, indicating interest from both retail and institutional investors.
✅ Monetary and macroeconomic policies: The current economic environment with low interest rates and fiscal stimulus measures from governments has led to a hunt for assets with potential to appreciate.
🪙 Featured Altcoins on the Rise in the Last Weeks of October 2024
Many Altcoins have made impressive gains this week, with some becoming the top gainers. This performance has overcome the volatility of the second week.
🚀 Featured Altcoins
✅ Dogecoin (DOGE)
Dogecoin (DOGE) is still one of the most popular memecoins in the crypto market, although it has lost its appeal since its “explosive” period in 2021. In mid-October 2024, Dogecoin’s price remained stable around $0.055, with little volatility.
✅ Worldcoin (WLD)
Worldcoin (WLD) is also one of the altcoins that has seen strong gains in the third week of October 2024. Specifically, WLD has had a pretty impressive growth week thanks to positive news and interest from the crypto community.
✅Ethena (ENA)
Proposal to use Solana as collateral. An important factor driving interest in ENA is the Ethena Foundation's proposal to use Solana (SOL) as collateral for the USDe stablecoin. This move has attracted the attention of the community and created a positive expectation for the development potential of ENA.
✅ The price of Solana (SOL) has been on an impressive rise recently, and one of the key factors driving this rise is the memecoin craze.
✅ Memecoins, which are usually small tokens with a fun nature, have attracted a lot of attention and money from investors, especially on the Solana platform.
✅ Memecoin has become a major trend, similar to the boom of Dogecoin (DOGE) and Shiba Inu (SHIB) before.
✅ As developers and users focus on issuing and trading memecoins on the Solana ecosystem, this helps increase activity on the Solana network, thereby increasing demand for SOL.
Fast Transaction Speeds and Low Fees: Solana is known for its ability to process thousands of transactions per second (TPS) with very low transaction fees. This makes Solana an ideal platform for DeFi, NFT, and memecoin projects, attracting a lot of users and developers to switch to this network.
✅ A recent survey found that over 90% of El Salvadorans don't trade in Bitcoin, despite the country becoming the first in the world to recognize Bitcoin as legal tender in 2021.
✅ The survey, conducted by an independent organization, found that the majority of people still prefer to use cash or traditional forms of payment over cryptocurrencies.
✅ This may reflect the challenges the Salvadoran government is facing in promoting Bitcoin adoption. Many people remain concerned about the volatility of Bitcoin's value as well as a lack of understanding of how to use it.
✅ The Salvadoran government has launched a number of programs to encourage the use of Bitcoin, but they do not appear to have achieved their goals.
🌟 SingularityDAO, Cogito and SelfKey “merge” into Singularity Finance
✅ SingularityDAO, Cogito and SelfKey have officially partnered to launch a new financial platform called Singularity Finance. This collaboration not only aims to combine the technological strengths of the three projects but also to create a comprehensive and advanced financial experience for users.
✅ SingularityDAO is famous for applying artificial intelligence to asset management and investment optimization. Meanwhile, Cogito provides powerful data analysis solutions, helping users make smarter investment decisions. Finally, SelfKey provides security and identity management solutions, helping users easily authenticate their identities in the trading environment.
✅ By merging into Singularity Finance, these three projects hope to create an ecosystem that is not only safe and secure but also powerful in terms of analysis and investment. Users will benefit from advanced technologies and flexible financial services, helping to maximize the potential of personal assets.
✅ This event marks an important step forward in the decentralized finance industry, opening up new opportunities for users and investors. With this combined platform, Singularity Finance hopes to create a sustainable financial model, suitable for the increasingly diverse needs of the market.
👉 See the article details at: https://toccrypto.com/singularitydao-cogito-va-selfkey/ #toccrypto #tintuccrypto $BTC
📣 Blockstream Raises $210 Million to Advance Layer 2 and Expand Bitcoin Treasury
✅ Blockstream, a well-known company in the blockchain technology field, has successfully raised $210 million in a new round of funding to advance the development of Layer 2 solutions and expand the Bitcoin treasury. This is an important step, as the company continues to be at the forefront of developing infrastructure for Bitcoin and blockchain-related applications.
✅ Layer 2 Development: The new capital will be used to enhance Layer 2 solutions, such as the Lightning Network. This is a Bitcoin scaling protocol that aims to solve the problems of transaction speed and cost on the native blockchain.
✅ Expanding the Bitcoin treasury: Blockstream also plans to expand the Bitcoin treasury, providing more secure solutions for storing and managing Bitcoin. With the growth of the cryptocurrency market and the increasing demand for secure storage solutions, Blockstream is focused on providing services that can help large institutions and investors manage large amounts of Bitcoin safely and efficiently.
✅ Boosting the Bitcoin Ecosystem: The successful raising of $210 million demonstrates the growing interest from investors in Bitcoin and its ecosystem. Blockstream has played a key role in developing the infrastructure for Bitcoin, from developing storage solutions to providing tools that enable scalability and security.
🚀 Tesla Suddenly Moves All $765 Million Worth of Bitcoin to Unknown Wallet
✅ Tesla recently made a notable move by transferring all $765 million worth of Bitcoin to an unknown wallet. This action has attracted the attention of investors and market analysts, especially in the context of Bitcoin's volatile value.
✅ This is not the first time Tesla has entered the cryptocurrency market. Previously, the company invested a large amount of Bitcoin and even accepted Bitcoin payments for a while. However, this transfer raises many questions about Tesla's long-term strategy for cryptocurrencies.
✅ Experts are analyzing different possibilities about the reason behind this decision. Is Tesla adjusting its investment portfolio, or is it preparing for another big move related to Bitcoin? Additionally, the transfer to an unknown wallet could also create more speculation about the company's future plans.
✅ While Bitcoin continues to attract attention from global investors, Tesla's actions could affect market sentiment, especially as investors look for signs of Bitcoin's next trend. Analysts will be closely monitoring this development to make appropriate predictions and investment strategies.
🪙 WLFI: Donald Trump's Challenging Launch of Token
World Liberty Financial (WLFI), a cryptocurrency project that is gaining a lot of attention from the community, has just officially launched on October 15 with the support of Donald Trump. This token is expected to attract the attention of investors, especially those who want to participate in the rapidly growing DeFi market. Although the project recorded an impressive revenue of 5 million USD in just the first hour of opening, the launch event did not go smoothly due to a series of technical issues.
✅ WLFI's DifferenceWLFI project has a rather unique development strategy, with the goal of raising 300 million USD in the next rounds of funding. Information said that only certified investors can participate in the first round of sales, which has created a wave of debate in the community about the project's accessibility. As defined by the Securities and Exchange Commission (SEC), accredited investors are individuals with a minimum net worth of $1 million and annual income of more than $200,000. This restriction could create a barrier for small investors, and also raises concerns about the future expansion of WLFI, as the number of eligible investors will be limited.
🚀 4 Economic Events in the US That Will Affect Cryptocurrency
4 important economic events in the US are expected to attract the attention of the cryptocurrency market this week. Economists, traders, and investors across the financial sector are closely watching these developments to assess the state of the US economy.
🇺🇸 4 US Economic Events Related to Cryptocurrency
✅ Federal Reserve (Fed) Monetary Policy: The Fed's interest rate decision has a strong impact on financial markets, including cryptocurrencies. If the Fed raises interest rates to control inflation, this could reduce liquidity in the economy, causing investors to withdraw from high-risk assets such as cryptocurrencies.
✅ Cryptocurrency regulatory policies: New regulations related to cryptocurrencies from the US Securities and Exchange Commission or other agencies can impact the price and development of this industry.
✅ Inflation and employment data: US inflation and employment reports play an important role in determining the direction of the financial market in general. High inflation or weak employment data can cause investors to seek safe assets such as gold or Bitcoin. Conversely, good economic data can increase confidence in traditional markets, putting pressure on cryptocurrencies.
✅ Debt crisis or debt ceiling: Every time the US Congress debates raising the debt ceiling, this can cause volatility in financial markets, including cryptocurrencies.
📣🔥Listening to the lure of investing in Biconomynft virtual currency, a person was scammed out of 17.6 billion VND
✅ A serious virtual currency investment scam has just been recorded, when an individual was scammed out of 17.6 billion VND through a platform called Biconomynft. According to initial information, this person received attractive invitations to invest in virtual currency, with the promise of high profits in a short time.
✅ The victim, upon receiving information from the scammers, was attracted by professional marketing tricks and unrealistic financial commitments. After investing a large amount of money, this person realized that he had been scammed when he could not withdraw money from his account on the Biconomynft platform.
✅ The incident has sounded the alarm about the dangers of investing in virtual currencies of unknown origin. Experts recommend that before deciding to invest, people need to carefully research and be cautious with investment invitations that show signs of ambiguity, especially in the current risky cryptocurrency field.
🚀 Arkham Intelligence to Launch Derivatives Exchange
✅ Arkham Intelligence, known for its blockchain data analysis services, has announced plans to launch a new derivatives exchange. The exchange promises to provide a secure and transparent platform for investors, allowing them to trade derivatives contracts of various digital assets.
✅ With the rapid development of the cryptocurrency market and the increasing demand for derivatives products, Arkham Intelligence's exchange is expected to attract a large number of users. The exchange will provide advanced analytical tools and high security features, helping users to conduct transactions efficiently and safely.
✅ Through the use of blockchain technology, Arkham Intelligence aims to provide a seamless and transparent trading experience, with the ability to optimize investment strategies for professional traders as well as beginners.
✅ In the current economic climate, the Consumer Price Index (CPI) data in the United States is emerging as an important factor that is expected to have a positive impact on the price of Bitcoin and other cryptocurrencies. Inflation in the United States has shown signs of easing, which not only supports the prospect of interest rate cuts but also creates favorable conditions for the cryptocurrency market.
💸 CPI Index
✅ According to information from the Bureau of Labor Statistics, the CPI index increased by 2.4% in September 2023, which is the lowest increase since February 2021. Although this figure is slightly higher than the predicted 2.3%, it also shows a decrease in inflation compared to the previous month's 2.5%. In particular, inflation peaked at 9.1% in June 2022, further strengthening the possibility that policymakers will take measures to revive the economy.
✅ According to 21Shares, despite signs of rising prices, the unemployment rate has recorded a decrease from 4.2% to 4.1%. The possibility of a 25 basis point interest rate cut next month has increased to 80%, a positive signal for the market, especially the cryptocurrency sector.
✅ Analyst Leena ElDeeb pointed out that Bitcoin and other crypto assets are closely linked to inflation, because inflation directly affects the monetary policy of the US Federal Reserve (Fed). Interest rate cuts are often beneficial for Bitcoin, as they reduce borrowing costs, thereby encouraging investors to return to the market after geopolitical tensions.