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The United States District Court for the Western District of Texas has ordered Mirror Trading International (MTI) to pay $1.7 billion in restitution to victims for operating a fraudulent scheme involving digital assets and forex. The Commodity Futures Trading Commission (CFTC) announced the decision on September 7.
The CFTC stated that MTI and its CEO, Cornelius Steynberg, were involved in an 'international multi-level marketing scheme' which accepted nearly 30,000 Bitcoin (BTC) from at least 23,000 people in the United States. MTI and Steynberg allegedly promised to provide access to an unregistered commodity pool in exchange for BTC contributions, which never occurred. The CFTC added that the latest court order and restitution effectively conclude a case that the authority filed in June 2022.
MTI went into provisional liquidation in late 2020 after one of its directors allegedly fled the country, taking all Bitcoin that investors had entrusted to MTI. In January 2021, MTI claimed to have over 260,000 members in 170 countries, with investors losing roughly $1 billion at the time of the liquidation. The MTI fraud is believed to be one of the largest Ponzi schemes involving digital assets in history.
#CRYPTOPM
The CFTC stated that MTI and its CEO, Cornelius Steynberg, were involved in an 'international multi-level marketing scheme' which accepted nearly 30,000 Bitcoin (BTC) from at least 23,000 people in the United States. MTI and Steynberg allegedly promised to provide access to an unregistered commodity pool in exchange for BTC contributions, which never occurred. The CFTC added that the latest court order and restitution effectively conclude a case that the authority filed in June 2022.
MTI went into provisional liquidation in late 2020 after one of its directors allegedly fled the country, taking all Bitcoin that investors had entrusted to MTI. In January 2021, MTI claimed to have over 260,000 members in 170 countries, with investors losing roughly $1 billion at the time of the liquidation. The MTI fraud is believed to be one of the largest Ponzi schemes involving digital assets in history.
#CRYPTOPM
Verge (XVG) Price Prediction 2023, 2024, 2025, 2030 | Is XVG a Good Investment?
Cryptocurrencies have garnered global attention and Verge (XVG) is among the notable digital assets in this rapidly growing market. Launched in 2014 as DogeCoinDark and later rebranded as Verge, this privacy-focused cryptocurrency aims to provide a fast, efficient, and secure payment network while addressing privacy concerns. Verge leverages the Tor anonymity network to enhance transaction privacy and offers optional stealth addresses. It operates as an open-source and community-driven project, gaining popularity among users seeking secure and private online transactions.
Verge (XVG) Price Prediction 2023, 2024, 2025, 2030 | Is XVG a Good Investment?
Understanding Verge (XVG)
Verge (XVG) is a privacy-focused cryptocurrency and blockchain based on Bitcoin's source code. It was created to offer a decentralized and private payment network while building upon Bitcoin's strengths. Verge has integrated the Tor network into its wallet, vergePay, ensuring that all transactions are routed through Tor, making it challenging to trace transactions and user IP addresses. Additionally, Verge offers the option of sending transactions to stealth addresses, enhancing user privacy. These features, combined with atomic swaps, make Verge a secure and privacy-driven cryptocurrency.
Verge (XVG) Price Predictions
Verge (XVG) Price Predictions:
2023:
Maximum Price: $0.00517
Average Price: $0.00456
Minimum Price: $0.00395
In 2023, Verge is expected to reach a maximum price of $0.00517, with an average price of $0.00456. However, if the crypto market experiences a major bearish trend, the minimum price could dip to $0.00395.
2024:
Maximum Price: $0.00806
Average Price: $0.00730
Minimum Price: $0.00684
Verge's strong fundamentals and community support could drive its maximum price to $0.00806 in 2024. The average price is anticipated to be around $0.00730, but in a bearish market, it might drop to a minimum of $0.00684.
2025:
Maximum Price: $0.01111
Average Price: $0.01044
Minimum Price: $0.00974
With positive market sentiment, Verge could see its maximum price rise to $0.01111 in 2025, maintaining an average price of $0.01044. A bearish trend might push the minimum price down to $0.00974.
2026:
Maximum Price: $0.01400
Average Price: $0.01345
Minimum Price: $0.01263
In 2026, Verge may experience significant growth, reaching a maximum price of $0.01400. The average price is expected to be around $0.01345, but a bear market could lead to a minimum of $0.01263.
2027:
Maximum Price: $0.01689
Average Price: $0.01628
Minimum Price: $0.01552
By 2027, Verge could achieve a new all-time high, with a maximum price of $0.01689. The average price may settle at $0.01628, while the minimum price could be $0.01552 in case of a bearish market.
2028:
Maximum Price: $0.01993
Average Price: $0.01917
Minimum Price: $0.01841
2028 could be a crucial year for Verge, with a maximum price of $0.01993. The average price is estimated at $0.01917, and the minimum price might be $0.01841 if the market turns bearish.
2029:
Maximum Price: $0.02283
Average Price: $0.02222
Minimum Price: $0.02130
In 2029, Verge may continue its bullish run, reaching a maximum price of $0.02283. The average price could be around $0.02222, but a bearish scenario might lower it to a minimum of $0.02130.
2030:
Maximum Price: $0.02572
Average Price: $0.02496
Minimum Price: $0.02419
Verge's price prediction for 2030 suggests a maximum price of $0.02572. The average price might settle at $0.02496, while the minimum price could be $0.02419 during a bearish phase.
Long-term Projections (2035, 2040, 2050):
2035: Maximum - $0.03789, Average - $0.03728, Minimum - $0.03622
2040: Maximum - $0.07613, Average - $0.07457, Minimum - $0.07259
2050: Maximum - $0.15981, Average - $0.15524, Minimum - $0.14854
In the long term, Verge's price could experience significant growth, potentially reaching a maximum of $0.15981 by 2050, assuming a bullish market trend.
Conclusion
Verge (XVG) is a privacy-focused cryptocurrency with a dedicated community and strong privacy features. While cryptocurrency price predictions are speculative, Verge's focus on privacy and security could lead to substantial price increases over the next 10 to 15 years. However, market conditions, adoption, and competition will also play crucial roles in determining its future value. Investors should conduct thorough research and consider potential risks before making investment decisions.
Frequently Asked Questions
Is Verge (XVG) a good investment?
The answer to this question depends on the investment goals of an individual investor. Verge (XVG) has proven to be a highly volatile asset and its short-term price movements can be difficult to predict. However, many crypto experts and analysts believe that Verge is a good investment option for the long term. Still, investors need to do their research before investing in any digital assets, including Verge (XVG).
Does Verge have a future?
Verge (XVG) has gained huge attention in the crypto industry due to its strong fundamentals and a lot of people invested in this coin, so we can say that Verge has a bright future ahead. Verge Coin also backs off a dedicated active crypto community and has real use cases, we predict that the future for XVG Coin looks promising.
What is the highest Verge (XVG) can reach in 2023?
Many crypto experts think that the prices of the XVG Coin will see a bullish environment in 2023. The maximum price of Verge (XVG) can reach up to $0.00517 by the end of 2023 as per our current market trend analysis. However, the actual value may vary depending on the volatility of the crypto market in 2023.
Will Verge (XVG) reach $0.1?
Many crypto analysts and investors are predicting that Verge (XVG) will reach the $0.1 mark in the future, although it is a difficult task to predict the exact price target. The current market trends suggest that it could take several years for the XVG Coin to reach $0.1. Still, if the crypto market continues to remain bullish in the future, we may see Verge (XVG) reaching $0.1 in 2040 as per our XVG Coin price prediction.
How much will Verge be worth in 2025?
As per our Verge price prediction, the XVG Coin prices will stay around $0.01111 by 2025 if the crypto market continues a bullish rally as per our current prediction. The actual value of Verge (XVG) in 2025 depends on the current market trend and sentiment.
Where will be Verge in the next 10 years?
The future of Verge (XVG) in the next 10 years is difficult to predict as the crypto market is still one a nascent stage and can experience significant volatility. However, as per our Verge price prediction, the XVG Coin could reach a maximum value of $0.02572 within the next 10 years if the crypto market remains bullish. Therefore, investors need to stay updated about market trends in order to make the right investment decision.
Conclusion
Overall, Verge (XVG) is expected to continue its growth in the next 5 to 10 years if the current bullish trend continues. The Verge Coin is a great digital asset to invest in for the long term and has the potential to reach great heights in the future. However, there are various factors that could influence the price of Verge (XVG), such as market sentiment, political and economic events, technological advances, public acceptance, and overall global trends.
We hope that you have found this article helpful and it has provided you with valuable insights into the future price of Verge (XVG). However, it is important to remember that cryptocurrency markets are highly volatile and unpredictable so we highly recommend all investors and traders carefully analyze the current market trend and thoroughly research before making any investment decision.
$XVG
#XVG #VERGE #CRYPTOPM #Binance
Verge (XVG) Price Prediction 2023, 2024, 2025, 2030 | Is XVG a Good Investment?
Understanding Verge (XVG)
Verge (XVG) is a privacy-focused cryptocurrency and blockchain based on Bitcoin's source code. It was created to offer a decentralized and private payment network while building upon Bitcoin's strengths. Verge has integrated the Tor network into its wallet, vergePay, ensuring that all transactions are routed through Tor, making it challenging to trace transactions and user IP addresses. Additionally, Verge offers the option of sending transactions to stealth addresses, enhancing user privacy. These features, combined with atomic swaps, make Verge a secure and privacy-driven cryptocurrency.
Verge (XVG) Price Predictions
Verge (XVG) Price Predictions:
2023:
Maximum Price: $0.00517
Average Price: $0.00456
Minimum Price: $0.00395
In 2023, Verge is expected to reach a maximum price of $0.00517, with an average price of $0.00456. However, if the crypto market experiences a major bearish trend, the minimum price could dip to $0.00395.
2024:
Maximum Price: $0.00806
Average Price: $0.00730
Minimum Price: $0.00684
Verge's strong fundamentals and community support could drive its maximum price to $0.00806 in 2024. The average price is anticipated to be around $0.00730, but in a bearish market, it might drop to a minimum of $0.00684.
2025:
Maximum Price: $0.01111
Average Price: $0.01044
Minimum Price: $0.00974
With positive market sentiment, Verge could see its maximum price rise to $0.01111 in 2025, maintaining an average price of $0.01044. A bearish trend might push the minimum price down to $0.00974.
2026:
Maximum Price: $0.01400
Average Price: $0.01345
Minimum Price: $0.01263
In 2026, Verge may experience significant growth, reaching a maximum price of $0.01400. The average price is expected to be around $0.01345, but a bear market could lead to a minimum of $0.01263.
2027:
Maximum Price: $0.01689
Average Price: $0.01628
Minimum Price: $0.01552
By 2027, Verge could achieve a new all-time high, with a maximum price of $0.01689. The average price may settle at $0.01628, while the minimum price could be $0.01552 in case of a bearish market.
2028:
Maximum Price: $0.01993
Average Price: $0.01917
Minimum Price: $0.01841
2028 could be a crucial year for Verge, with a maximum price of $0.01993. The average price is estimated at $0.01917, and the minimum price might be $0.01841 if the market turns bearish.
2029:
Maximum Price: $0.02283
Average Price: $0.02222
Minimum Price: $0.02130
In 2029, Verge may continue its bullish run, reaching a maximum price of $0.02283. The average price could be around $0.02222, but a bearish scenario might lower it to a minimum of $0.02130.
2030:
Maximum Price: $0.02572
Average Price: $0.02496
Minimum Price: $0.02419
Verge's price prediction for 2030 suggests a maximum price of $0.02572. The average price might settle at $0.02496, while the minimum price could be $0.02419 during a bearish phase.
Long-term Projections (2035, 2040, 2050):
2035: Maximum - $0.03789, Average - $0.03728, Minimum - $0.03622
2040: Maximum - $0.07613, Average - $0.07457, Minimum - $0.07259
2050: Maximum - $0.15981, Average - $0.15524, Minimum - $0.14854
In the long term, Verge's price could experience significant growth, potentially reaching a maximum of $0.15981 by 2050, assuming a bullish market trend.
Conclusion
Verge (XVG) is a privacy-focused cryptocurrency with a dedicated community and strong privacy features. While cryptocurrency price predictions are speculative, Verge's focus on privacy and security could lead to substantial price increases over the next 10 to 15 years. However, market conditions, adoption, and competition will also play crucial roles in determining its future value. Investors should conduct thorough research and consider potential risks before making investment decisions.
Frequently Asked Questions
Is Verge (XVG) a good investment?
The answer to this question depends on the investment goals of an individual investor. Verge (XVG) has proven to be a highly volatile asset and its short-term price movements can be difficult to predict. However, many crypto experts and analysts believe that Verge is a good investment option for the long term. Still, investors need to do their research before investing in any digital assets, including Verge (XVG).
Does Verge have a future?
Verge (XVG) has gained huge attention in the crypto industry due to its strong fundamentals and a lot of people invested in this coin, so we can say that Verge has a bright future ahead. Verge Coin also backs off a dedicated active crypto community and has real use cases, we predict that the future for XVG Coin looks promising.
What is the highest Verge (XVG) can reach in 2023?
Many crypto experts think that the prices of the XVG Coin will see a bullish environment in 2023. The maximum price of Verge (XVG) can reach up to $0.00517 by the end of 2023 as per our current market trend analysis. However, the actual value may vary depending on the volatility of the crypto market in 2023.
Will Verge (XVG) reach $0.1?
Many crypto analysts and investors are predicting that Verge (XVG) will reach the $0.1 mark in the future, although it is a difficult task to predict the exact price target. The current market trends suggest that it could take several years for the XVG Coin to reach $0.1. Still, if the crypto market continues to remain bullish in the future, we may see Verge (XVG) reaching $0.1 in 2040 as per our XVG Coin price prediction.
How much will Verge be worth in 2025?
As per our Verge price prediction, the XVG Coin prices will stay around $0.01111 by 2025 if the crypto market continues a bullish rally as per our current prediction. The actual value of Verge (XVG) in 2025 depends on the current market trend and sentiment.
Where will be Verge in the next 10 years?
The future of Verge (XVG) in the next 10 years is difficult to predict as the crypto market is still one a nascent stage and can experience significant volatility. However, as per our Verge price prediction, the XVG Coin could reach a maximum value of $0.02572 within the next 10 years if the crypto market remains bullish. Therefore, investors need to stay updated about market trends in order to make the right investment decision.
Conclusion
Overall, Verge (XVG) is expected to continue its growth in the next 5 to 10 years if the current bullish trend continues. The Verge Coin is a great digital asset to invest in for the long term and has the potential to reach great heights in the future. However, there are various factors that could influence the price of Verge (XVG), such as market sentiment, political and economic events, technological advances, public acceptance, and overall global trends.
We hope that you have found this article helpful and it has provided you with valuable insights into the future price of Verge (XVG). However, it is important to remember that cryptocurrency markets are highly volatile and unpredictable so we highly recommend all investors and traders carefully analyze the current market trend and thoroughly research before making any investment decision.
$XVG
#XVG #VERGE #CRYPTOPM #Binance
The Monetary Authority of Singapore (MAS) has clarified that no cryptocurrency payment providers have qualified to participate in its fintech Regulatory Sandbox, which aims to support a broad range of fintech experimentation. Responding to a letter in the Financial Times criticizing the Singaporean government's lack of public consultation and oversight on crypto adoption, the MAS noted that the country does not have a "crypto sandbox." To qualify for operational licenses, cryptocurrency businesses must demonstrate robust anti-money laundering controls, per Singapore's efforts to combat money laundering.
The regulatory authority also clarified that all businesses in Singapore with a valid bank account can access the FAST interbank payment system, including cryptocurrency businesses. Payments through FAST, however, are in fiat currencies, not cryptocurrencies. The MAS suggested that rising malware scam cases in Singapore had nothing to do with cryptocurrencies, a method of fraud that they claim is more prevalent in the fiat economy.
Singapore is taking active measures to combat money laundering, including the provision of operational licenses to qualified cryptocurrency businesses with strong anti-money laundering controls. The MAS is set to implement progressive regulatory measures this year to govern retail access to cryptocurrencies, creating one of the strictest regulatory regimes in the world. Tharman Shanmugaratnam, the recently elected president of Singapore who has warned of the risks of cryptocurrencies, once famously deemed crypto assets "highly volatile" and "highly risky as investment products."
#CRYPTOPM
The regulatory authority also clarified that all businesses in Singapore with a valid bank account can access the FAST interbank payment system, including cryptocurrency businesses. Payments through FAST, however, are in fiat currencies, not cryptocurrencies. The MAS suggested that rising malware scam cases in Singapore had nothing to do with cryptocurrencies, a method of fraud that they claim is more prevalent in the fiat economy.
Singapore is taking active measures to combat money laundering, including the provision of operational licenses to qualified cryptocurrency businesses with strong anti-money laundering controls. The MAS is set to implement progressive regulatory measures this year to govern retail access to cryptocurrencies, creating one of the strictest regulatory regimes in the world. Tharman Shanmugaratnam, the recently elected president of Singapore who has warned of the risks of cryptocurrencies, once famously deemed crypto assets "highly volatile" and "highly risky as investment products."
#CRYPTOPM
1. **CryptoUK's Concerns:** British cryptocurrency lobbying group CryptoUK is expressing worries that the UK's Financial Conduct Authority (FCA) might inadvertently drive cryptocurrency companies out of the country due to its planned ban on cryptocurrency incentives. The group is urging the FCA to provide clearer guidance on the upcoming cryptocurrency advertising rules.
2. **Regulatory Framework for Advertising:** The FCA had earlier announced a regulatory framework for cryptocurrency advertising and promotions in June. This framework includes a proposed ban on cryptocurrency incentives like free NFTs and airdrops used as investment incentives. The new regulations are scheduled to come into effect on October 8th.
3. **Clarity on Guidelines:** CryptoUK is specifically requesting the FCA to define terms such as 'qualified crypto assets' and 'financial promotions,' seeking clearer guidelines to avoid ambiguity and unintended consequences that might impact the crypto industry's presence in the UK.
#crypto2023 #cryptocurrency #crypto #cryptonews #CRYPTOPM
2. **Regulatory Framework for Advertising:** The FCA had earlier announced a regulatory framework for cryptocurrency advertising and promotions in June. This framework includes a proposed ban on cryptocurrency incentives like free NFTs and airdrops used as investment incentives. The new regulations are scheduled to come into effect on October 8th.
3. **Clarity on Guidelines:** CryptoUK is specifically requesting the FCA to define terms such as 'qualified crypto assets' and 'financial promotions,' seeking clearer guidelines to avoid ambiguity and unintended consequences that might impact the crypto industry's presence in the UK.
#crypto2023 #cryptocurrency #crypto #cryptonews #CRYPTOPM
A US Federal Reserve official, identified as Bar, stated that there is still a long way to go for the issuance of a central bank digital currency (CBDC) in the United States. The official emphasized that the Federal Reserve would only advance digital currency efforts if there is clear support from the executive branch and legislative backing from Congress.
Additionally, the Federal Reserve remains deeply concerned about the issuance of stablecoins without strong federal regulation. This highlights the cautious approach taken by the US central bank towards digital currencies and the need for proper regulatory frameworks to ensure their stability and security.
#CRYPTOPM
Additionally, the Federal Reserve remains deeply concerned about the issuance of stablecoins without strong federal regulation. This highlights the cautious approach taken by the US central bank towards digital currencies and the need for proper regulatory frameworks to ensure their stability and security.
#CRYPTOPM
Decoding the Mystery Behind Shiba Inu (SHIB) Token Surge and Vitalik Buterin's Role
The meteoric rise of the Shiba Inu (SHIB) token in the world of cryptocurrencies has been a subject of intrigue and speculation. However, a recent post by Shibburn aims to shed light on a critical aspect of this phenomenon: the massive SHIB burn orchestrated by Ethereum co-founder Vitalik Buterin in 2021.
Decoding the Mystery Behind Shiba Inu (SHIB) Token Surge and Vitalik Buterin's Role
According to Shibburn, the surge in SHIB's value was primarily driven by demand, rather than Buterin's token burn. This revelation has sparked discussions in the crypto community about the true factors influencing SHIB's price.
Vitalik Buterin's Potential Impact
Shibburn
In early 2021, the enigmatic founder of Shiba Inu coins, Ryoshi, sent half of the one-quadrillion SHIB supply to Vitalik Buterin's wallet. At that time, this staggering amount of meme coins was valued at $6.7 billion after a significant price surge in May 2021. Shibburn points out that Buterin did not immediately burn the SHIB tokens he received when the price was surging. Instead, he waited for several months before sending 90% of his SHIB holdings to a dead-end blockchain address.
The Timing of the Burn
Shibburn clarifies that the substantial price increase of SHIB, from $0.0000076 to $0.00003469 on May 11, was primarily due to surging demand as more investors discovered the ambitious new meme coin and began buying it. Buterin executed the significant SHIB burn after the price had already surged. Before the price increase, the tokens were valued at $1.7 billion. Consequently, Shibburn suggests that if Buterin had sold his holdings a few weeks earlier, he could have potentially propelled SHIB to much greater heights than it occupies today, possibly even achieving a growth of 46 million%.
Buterin's Motive for the Burn
Vitalik Buterin
Vitalik Buterin's decision to burn 90% of his SHIB holdings was motivated by a desire not to hold too much power within the crypto ecosystem. He also transferred the remaining 10% to the "cryptorelief" fund created by Polygon founder Sandeep Nailwa in India to support pandemic relief efforts.
Current SHIB Burns
The post also provides insight into recent SHIB burns, which appear to be on the decline. Over the last 24 hours, the Shiba Inu community burned a relatively modest amount of SHIB tokens, marking a nearly 50% drop compared to the previous day. This trend is in contrast to the significant burn rate observed after the relaunch of the Shibarium Layer 2 blockchain, where each transaction contributes to sending SHIB coins to dead wallets.
The Future of SHIB Burns
As the Shibarium blockchain gains more utility and adoption, the community anticipates an increase in SHIB tokens locked out of circulation forever. This mechanism holds the potential to impact the token's supply and, consequently, its price.
In conclusion, the dynamics of SHIB's price surge and the role of Vitalik Buterin's token burn continue to be subjects of interest and debate within the crypto community. While the SHIB phenomenon has its share of mysteries, Shibburn's insights provide valuable clarity on this intriguing chapter in the world of digital assets.
Let's keep Learning and building together 💪
$SHIB #Shibainu
#CRYPTOPM
Decoding the Mystery Behind Shiba Inu (SHIB) Token Surge and Vitalik Buterin's Role
According to Shibburn, the surge in SHIB's value was primarily driven by demand, rather than Buterin's token burn. This revelation has sparked discussions in the crypto community about the true factors influencing SHIB's price.
Vitalik Buterin's Potential Impact
Shibburn
In early 2021, the enigmatic founder of Shiba Inu coins, Ryoshi, sent half of the one-quadrillion SHIB supply to Vitalik Buterin's wallet. At that time, this staggering amount of meme coins was valued at $6.7 billion after a significant price surge in May 2021. Shibburn points out that Buterin did not immediately burn the SHIB tokens he received when the price was surging. Instead, he waited for several months before sending 90% of his SHIB holdings to a dead-end blockchain address.
The Timing of the Burn
Shibburn clarifies that the substantial price increase of SHIB, from $0.0000076 to $0.00003469 on May 11, was primarily due to surging demand as more investors discovered the ambitious new meme coin and began buying it. Buterin executed the significant SHIB burn after the price had already surged. Before the price increase, the tokens were valued at $1.7 billion. Consequently, Shibburn suggests that if Buterin had sold his holdings a few weeks earlier, he could have potentially propelled SHIB to much greater heights than it occupies today, possibly even achieving a growth of 46 million%.
Buterin's Motive for the Burn
Vitalik Buterin
Vitalik Buterin's decision to burn 90% of his SHIB holdings was motivated by a desire not to hold too much power within the crypto ecosystem. He also transferred the remaining 10% to the "cryptorelief" fund created by Polygon founder Sandeep Nailwa in India to support pandemic relief efforts.
Current SHIB Burns
The post also provides insight into recent SHIB burns, which appear to be on the decline. Over the last 24 hours, the Shiba Inu community burned a relatively modest amount of SHIB tokens, marking a nearly 50% drop compared to the previous day. This trend is in contrast to the significant burn rate observed after the relaunch of the Shibarium Layer 2 blockchain, where each transaction contributes to sending SHIB coins to dead wallets.
The Future of SHIB Burns
As the Shibarium blockchain gains more utility and adoption, the community anticipates an increase in SHIB tokens locked out of circulation forever. This mechanism holds the potential to impact the token's supply and, consequently, its price.
In conclusion, the dynamics of SHIB's price surge and the role of Vitalik Buterin's token burn continue to be subjects of interest and debate within the crypto community. While the SHIB phenomenon has its share of mysteries, Shibburn's insights provide valuable clarity on this intriguing chapter in the world of digital assets.
Let's keep Learning and building together 💪
$SHIB #Shibainu
#CRYPTOPM
Bitcoin's upward momentum caused a short squeeze, leading to a new September high of over $26,400 before returning to under $26,000 in an overnight spike. Consequently, the BTC market liquidated shorts and longs, with data from Cointelegraph Markets Pro and TradingView showing that shorts liquidations stood at $23.5 million on Sept. 7. Short-term traders' attempts to follow the volatile market up and down caused this loss. As Bitcoin continues to maintain the 200-day exponential moving average of $25,674, the crypto market will see the final correction.
CoinGlass data confirms that September usually results in a 10% drop in Bitcoin's price, with expectations for 2023 in line with this trend. With Bitcoin rallying from its Aug. low of about $25.6K, the token is now retesting September's monthly open, as noted by Daan Crypto Trades. The trader highlighted the importance of Bitcoin reclaiming lost ground from August and bulls prudently maintaining a “green” September.
Accordingly, after reaching an overnight high of over $26,400, Bitcoin's price has reversed direction and is giving back its gains, prompting short and long liquidations alike.
$BTC $BTC $BTC
#CRYPTOPM
CoinGlass data confirms that September usually results in a 10% drop in Bitcoin's price, with expectations for 2023 in line with this trend. With Bitcoin rallying from its Aug. low of about $25.6K, the token is now retesting September's monthly open, as noted by Daan Crypto Trades. The trader highlighted the importance of Bitcoin reclaiming lost ground from August and bulls prudently maintaining a “green” September.
Accordingly, after reaching an overnight high of over $26,400, Bitcoin's price has reversed direction and is giving back its gains, prompting short and long liquidations alike.
$BTC $BTC $BTC
#CRYPTOPM
As part of its Vision 2030 plan, Saudi Arabia is looking to diversify its economy and reduce dependence on oil by embracing blockchain gaming and Web3 technologies. With a young, tech-savvy population, the kingdom is expanding its gaming market, representing 45% of the Middle East's gaming sector with a value of over $1.8 billion.
Animoca Brands co-founder Yat Siu states that Saudi Arabia has shown significant interest in Web3 based on the partnerships it has with entities like The Sandbox and Animoca. The country seeks to explore the future of gaming, leveraging blockchain's ability to prove ownership of digital assets.
However, while the Saudi government is interested in the potential of Web3 and how it aligns with esports, the integration of cryptocurrency and virtual assets is still being explored. Saudi Arabia is also actively discussing and learning from other markets to stay at the cutting edge of the technology, as it aims to become a global gaming hub.
#CRYPTOPM
Animoca Brands co-founder Yat Siu states that Saudi Arabia has shown significant interest in Web3 based on the partnerships it has with entities like The Sandbox and Animoca. The country seeks to explore the future of gaming, leveraging blockchain's ability to prove ownership of digital assets.
However, while the Saudi government is interested in the potential of Web3 and how it aligns with esports, the integration of cryptocurrency and virtual assets is still being explored. Saudi Arabia is also actively discussing and learning from other markets to stay at the cutting edge of the technology, as it aims to become a global gaming hub.
#CRYPTOPM
This week's analysis of Ethereum, Ripple, Cardano, Shiba Inu, and Tron reveals mixed results for these cryptocurrencies. Ethereum (ETH) experienced a modest loss of 1.7% this week, with the price under the key resistance at $1,660. The current support levels are found at $1,550 and $1,440, with the latter having the most confidence to stop sellers should they increase their pressure at these levels.
Ripple (XRP) has been consolidating around 50 cents for a while now and closed the week with a minor loss of 1.7%. This cryptocurrency has strong support at 47 cents, which is not far from the current price. The resistance is at 56 cents, and so far, buyers have not been able to test this level.
Cardano (ADA) is also found in a flat trend above the key support at 25 cents, registering a minor loss of 1.3% this week. Sellers were unable to break this support even though they tried several times. The price action appears fragile to any renewed volatility across the market, particularly if the market leaders such as BTC and ETH decide to drop lower.
Shiba Inu (SHIB) continued its downtrend, registering a 5.5% loss this week, making this meme coin the worst performer on the list. The current support is found at $0.0000075, and so far, it held the assault from bears. Nevertheless, sellers could return to take the price lower if the bearish sentiment continues.
Tron (TRX) managed to register an increase of 1.8% this week, making it the outlier in the list. The price action placed TRX in an uptrend since the start of the year, with the price making higher lows and higher highs for months now. Tron has support at $0.077, and if buyers persist, they could take the price back to the key resistance at $0.086.
$ADA $BTC $ETH
#CRYPTOPM
Ripple (XRP) has been consolidating around 50 cents for a while now and closed the week with a minor loss of 1.7%. This cryptocurrency has strong support at 47 cents, which is not far from the current price. The resistance is at 56 cents, and so far, buyers have not been able to test this level.
Cardano (ADA) is also found in a flat trend above the key support at 25 cents, registering a minor loss of 1.3% this week. Sellers were unable to break this support even though they tried several times. The price action appears fragile to any renewed volatility across the market, particularly if the market leaders such as BTC and ETH decide to drop lower.
Shiba Inu (SHIB) continued its downtrend, registering a 5.5% loss this week, making this meme coin the worst performer on the list. The current support is found at $0.0000075, and so far, it held the assault from bears. Nevertheless, sellers could return to take the price lower if the bearish sentiment continues.
Tron (TRX) managed to register an increase of 1.8% this week, making it the outlier in the list. The price action placed TRX in an uptrend since the start of the year, with the price making higher lows and higher highs for months now. Tron has support at $0.077, and if buyers persist, they could take the price back to the key resistance at $0.086.
$ADA $BTC $ETH
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🔥TRENDING CRYPTO NEWS:
- Cryptocurrency mining rig manufacturer Bitmain has stirred discussions within the Monero community with its announcement of the upcoming Antminer X5, a specialized machine designed for mining Monero (XMR). Featuring a hashrate of 212 kilohash per second (KH/s), the Antminer X5 highlights Monero's well-known opposition to application-specific integrated circuits (ASICs) and has triggered debates within the community regarding the potential impact of the new XMR ASICs. While some community members remain optimistic that they can counter ASIC development through hard forks, others emphasize the challenges of designing mining algorithms and achieving complete ASIC resistance.
- London-based money manager Jacobi Asset Management has launched a Bitcoin exchange-traded fund (ETF) with an ESG label, raising questions among environmental experts. The Jacobi FT Wilshire Bitcoin ETF (Ticker: BCOIN NA) carries the designation of an Article 8 fund under EU regulations, requiring it to "promote" ESG criteria. The Article 8 fund category has grown to cover around $6 trillion of assets across multiple financial products, according to Bloomberg Intelligence estimates.
- BitBoy Host Ben Armstrong Removed Amid Allegations, $BEN Price Plummets.
According to CoinGecko, following the news of BitBoy host Ben Armstrong being removed from the company, the price of the associated token, $BEN, has dropped by 55%.
$XMR $BEN
#CRYPTOPM #NEWS #cryptopm
- Cryptocurrency mining rig manufacturer Bitmain has stirred discussions within the Monero community with its announcement of the upcoming Antminer X5, a specialized machine designed for mining Monero (XMR). Featuring a hashrate of 212 kilohash per second (KH/s), the Antminer X5 highlights Monero's well-known opposition to application-specific integrated circuits (ASICs) and has triggered debates within the community regarding the potential impact of the new XMR ASICs. While some community members remain optimistic that they can counter ASIC development through hard forks, others emphasize the challenges of designing mining algorithms and achieving complete ASIC resistance.
- London-based money manager Jacobi Asset Management has launched a Bitcoin exchange-traded fund (ETF) with an ESG label, raising questions among environmental experts. The Jacobi FT Wilshire Bitcoin ETF (Ticker: BCOIN NA) carries the designation of an Article 8 fund under EU regulations, requiring it to "promote" ESG criteria. The Article 8 fund category has grown to cover around $6 trillion of assets across multiple financial products, according to Bloomberg Intelligence estimates.
- BitBoy Host Ben Armstrong Removed Amid Allegations, $BEN Price Plummets.
According to CoinGecko, following the news of BitBoy host Ben Armstrong being removed from the company, the price of the associated token, $BEN, has dropped by 55%.
$XMR $BEN
#CRYPTOPM #NEWS #cryptopm
TRENDING CRYPTO NEWS 🔥
- Optimism will move its initial OP token allocation to Base on August 30, as part of a planned transaction. This follows Optimism's partnership with Base, where a portion of Base's trading revenue supports the Optimism Collective. Base stands to earn up to 118 million OP tokens over six years.
- LambdaClass, a crypto studio, is set to launch the Ethereum consensus client Lambda Consensus. The client will include features such as blockchain state tracking and the role of consensus in blockchain operations. The project is currently open-source on GitHub.
Sure, here's a summary of the provided content:
- The decentralized social media app friend.tech has received criticism for penalizing users who explore forks or copycat versions of its tokenized social media platform.
- In a tweet on August 28, the official friend.tech account announced that users who switch to forks or copies would lose the ability to earn and retain Points.
- The tweet didn't specify any particular competitors, but users pointed to a new DeSo application called Shares, set to launch on August 31.
- friend.tech had been distributing "reward points" to its beta testers weekly, totaling 100 million points over six months. The purpose of these points remains unclear, leading to speculation that they might relate to governance tokens or have financial implications.
- Singer JJ Lin has updated his Twitter profile picture to feature a Stellar NFT. This move highlights the growing popularity and adoption of non-fungible tokens (NFTs) in various industries, including entertainment.
- Data from Dune reveals that since August 1, Curve founder Michael Egorov has sold a total of 158.65 million CRV tokens to 53 investors and institutions through OTC sales, raising $63.46 million in funds.
- Lido, a decentralized finance platform, has reportedly paid out more than 400,000 ETH in staking rewards, equivalent to over $6.6 billion. Additionally, the total amount of ETH staked on the Lido platform is currently around 8.457 million.
$LDO $OP $ETH
#NEWS #CRYPTOPM #cryptopm
- Optimism will move its initial OP token allocation to Base on August 30, as part of a planned transaction. This follows Optimism's partnership with Base, where a portion of Base's trading revenue supports the Optimism Collective. Base stands to earn up to 118 million OP tokens over six years.
- LambdaClass, a crypto studio, is set to launch the Ethereum consensus client Lambda Consensus. The client will include features such as blockchain state tracking and the role of consensus in blockchain operations. The project is currently open-source on GitHub.
Sure, here's a summary of the provided content:
- The decentralized social media app friend.tech has received criticism for penalizing users who explore forks or copycat versions of its tokenized social media platform.
- In a tweet on August 28, the official friend.tech account announced that users who switch to forks or copies would lose the ability to earn and retain Points.
- The tweet didn't specify any particular competitors, but users pointed to a new DeSo application called Shares, set to launch on August 31.
- friend.tech had been distributing "reward points" to its beta testers weekly, totaling 100 million points over six months. The purpose of these points remains unclear, leading to speculation that they might relate to governance tokens or have financial implications.
- Singer JJ Lin has updated his Twitter profile picture to feature a Stellar NFT. This move highlights the growing popularity and adoption of non-fungible tokens (NFTs) in various industries, including entertainment.
- Data from Dune reveals that since August 1, Curve founder Michael Egorov has sold a total of 158.65 million CRV tokens to 53 investors and institutions through OTC sales, raising $63.46 million in funds.
- Lido, a decentralized finance platform, has reportedly paid out more than 400,000 ETH in staking rewards, equivalent to over $6.6 billion. Additionally, the total amount of ETH staked on the Lido platform is currently around 8.457 million.
$LDO $OP $ETH
#NEWS #CRYPTOPM #cryptopm
Artificial intelligence (AI) chatbot ChatGPT has experienced a decline in user traffic worldwide for the third consecutive month in August, as per data from analytics company Similarweb. Desktop and mobile site traffic to OpenAI's chatbot from global visitors decreased by 3.2% to 1.43 billion in August, following a 10% drop in traffic two months prior. The time spent on the site also slightly decreased from 8.7 minutes to 7 minutes in August.
However, visits from United States-based users began to increase in August by 0.4%. Unique visitors to the site, which declined in June and July, rose by 3% in the U.S. and 0.3% worldwide in August. Similarweb senior insights manager David F. Carr, who regularly tracks AI chatbots and authored the report, suggested that the fluctuation in users could be due to students using the program during summer break and now resuming classes.
This theory is supported by the drop in audience for the summer months of ChatGPT users in the 18–24 age range, both in the U.S. and globally. In the U.S., traffic in the 18–24 age bracket dropped 10% in May, 15% in June, and another 4% in July. At its peak in April, 18–24-year-old visitors made up 30% of the total audience share in the United States. A separate survey from May 2023 by Intelligent.com found that 30% of 1,223 undergraduate and graduate students in the U.S. had used ChatGPT for schoolwork during the academic year.
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However, visits from United States-based users began to increase in August by 0.4%. Unique visitors to the site, which declined in June and July, rose by 3% in the U.S. and 0.3% worldwide in August. Similarweb senior insights manager David F. Carr, who regularly tracks AI chatbots and authored the report, suggested that the fluctuation in users could be due to students using the program during summer break and now resuming classes.
This theory is supported by the drop in audience for the summer months of ChatGPT users in the 18–24 age range, both in the U.S. and globally. In the U.S., traffic in the 18–24 age bracket dropped 10% in May, 15% in June, and another 4% in July. At its peak in April, 18–24-year-old visitors made up 30% of the total audience share in the United States. A separate survey from May 2023 by Intelligent.com found that 30% of 1,223 undergraduate and graduate students in the U.S. had used ChatGPT for schoolwork during the academic year.
#CRYPTOPM
