#BNB Smart Chain stablecoin market share continues to shrink

BNB Smart Chain (BSC) grew the least in 2024, with an increase of 9.8%, or $444.5 million. It was the only chain in the top 5 to add less than a billion dollars in stablecoin. During the same period, its market share dropped from 3.5% to 2.9%. 

Over a broader timeframe, however, BSC saw its stablecoin supply drop -61.0% between May 2022 and September 2024, mostly in the form of Binance USD (BUSD). This represented a fall of $7.8 billion in the wake of Binance being ordered by the New York Department of Financial Services to cease support for the stablecoin. Despite this, the SEC terminated its investigation into the stablecoin in July, though the damage had been done. BUSD now accounts for a small percentage of BSC stablecoins, with USDT making up for the bulk at 79.5%.

$BNB

#Lamborghini brings cars to #Web3 games with Animoca, Motorverse partnership

Lamborghini has teamed up with Animoca Brands to launch its first interoperable blockchain-based digital vehicles, bringing the cars to Web3 gaming.

The announcement said gamers can buy, sell and drive Lamborghini cars in a range of Motorverse games. These include Torque Drift 2, REVV Racing, the Motorverse Hub and Fast ForWorld’s proprietary experience. 

Animoca Brands also highlighted that Fast ForWorld’s first version will go live on Nov. 7. The platform will release a 3D wallet that allows users to store items and a way to interact and play with their digital cars. 

#Ava Protocol, Sony’s #Soneium partner for no-code blockchain automation

Ava Protocol’s automation tools will simplify smart contracts on Soneium, while supporting developers with no-code solutions and lower costs.

The partnership’s intent-based automation will allow creators and developers to monetize and manage their work more efficiently, minimizing complexity and lowering transaction costs, the release said.

Soneium is designed to provide high-performance, scalable and secure access to decentralized finance, non-fungible tokens (NFTs) and other creator economies.

Which Countries Are Most Interested in #RWA Crypto?

The country most interested in crypto Real World Assets (RWA) is the US, which accounts for 14.8% of global interest in the narrative in 2024 to date. As a major arena for crypto, the US has previously led interest in other narratives, including small cap tokens and AI crypto.

Notably, the most popular RWA protocol among US crypto investors during this period is #Ondo Finance (ONDO), which made up almost half of the country’s interest in RWA crypto. The US has also led interest towards most RWA protocols, for example representing almost a third of global attention in #Goldfinch (GFI) and #Maple (MPL) so far this year.

26 #Crypto Sports Sponsorships Signed in 2024, a 38% Drop from 2021

It's been a wild ride between the crypto world and sports sponsorships. During the 2021 bull run, crypto companies dove headfirst into sponsoring some of the biggest sports teams and events. However, sponsorships dwindled when the markets hit the fan in 2022, wiping out 70-85% of the cryptocurrency market cap. In addition, the fall of FTX, once a major player in sports sponsorships, further accelerated the decline. But has the industry regained momentum in 2024?

$BTC $ETH $SOL

#Bitcoin open interest surge past $35B raises 'overheating' concerns

Bitcoin’s recent surge in open interest beyond $35 billion has analysts worried about potential signs of froth in the market.

Bitcoin OI — the total number of Bitcoin futures contracts that have yet to be settled or expire — is a critical metric investors use to assess market sentiment and anticipate future price movements.

On Sept. 27, Bitcoin OI reached $35.52 billion, the highest since June 7 when it clocked $37.69 billion, according to CoinGlass data. At that time, Bitcoin was trading near its all-time high, at $70,759, before pulling back nearly 18% over the next 30 days to $58,239.
The analysts argues that this “raises concerns of potential market overheating.”
$BTC

Ethereum and Tron Dominate Stablecoins With 83.9% Share, Valued at $144.4 Billion

#Ethereum  has the most stablecoins, with $84.6 billion, or 49.1% of market share, as of 23 September 2024. 

#Tron has the second-largest amount of stablecoins, with $59.8 billion, a market share of 34.8%.

It is then followed by #BNB

Chain, with $5.0 billion and a market share of 2.9%. Ethereum and Tron account for the large majority of stablecoins, with 83.9% or $144.4 billion of all stablecoins on just these two blockchains.

$ETH $BNB $TRX

PolitiFi Coins Pumped 782.4% In 2024, Outperforming Meme Coins

The PolitiFi (Political Finance) coins category has outperformed meme coins, rising 782.4% between January 1 and August 25, 2024. Meanwhile, the broader meme coin category rose 90.2% during the same period. 

#Biden #Trump2024 #meme_coin

Analysis of Ethereum Price Predictions

As of August 6, in the last 30 days, ETH's price plunged 15.5%, hovering around $2,600. This is reminiscent of the plunge that happened in April 2022 following the start of the Fed’s interest rate hiking cycle. This time, the Fed fund futures price in three rate cuts by the end of 2024, with the first one in September with an 82.7% probability. Depending on the severity of the need to stimulate the economy with rate cuts, this could be either a tailwind or a headwind. 

$ETH

What Is Ethereum's Price Prediction for 2024?

Secondary to Bitcoin by market cap, Ethereum has been neck and neck with Bitcoin over the last year across major inflection points. Over one year, however, Ethereum lags behind Bitcoin at 31.6% vs 85.8% gains respectively. The potential for Ethereum ETFs buoyed the cryptocurrency but its gains have been wiped, leaving it trailing behind Bitcoin at 5.9% vs 51.9% respectively, year-to date.

Despite the price slump of both cryptocurrencies in late July, much is expected from Ethereum ETFs, based on the wildly successful launch of Bitcoin ETFs. Considering these and other factors, what price range can ETH holders expect in the near to medium future?

#ETH #Binance $ETH

Where Do People Get Crypto News?

Most of the crypto community were found to be obtaining their news and information from social media platforms, rather than from news websites. A total of 73.8% consumed most of their crypto-related information from X, YouTube or Telegram, while news websites lagged further behind as the main information source for just 6.5% of participants.

#Binance #Twitter #youtube #Telegrem

What Social Media Is Most Used for Crypto?

The social media platforms most used for crypto are X (formerly Twitter), Telegram and YouTube, which represented a combined 84.0% of the crypto community’s responses in a survey. Another 15.0% mostly used Discord, Reddit or other social media platforms, and the remaining 1.0% self-identified as not being part of any crypto social media.

While X was unsurprisingly the most popular crypto social media, only 41.7% or less than half of the crypto community considered it their main platform to spend time on. This suggests that although crypto Twitter is well-known, with CT content and conversations typically getting cited or referenced for industry developments, X is not the only online space where the crypto community primarily gathers.

#x #Twitter #Telegrem #Binance

Crypto Market Has Seen 0 Days of Correction in 2023 & 2024 So Far

Crypto has experienced 62 days of market correction from 2014 to date, which makes up a minor 1.6% of the time during this period. The average crypto market correction across these days was -13.0%, which is just 3 percentage points above the technical cutoff definition for a market correction.

Crypto was hit by the highest number of 18 market corrections in 2018, which is double the next highest 9 days of market correction recorded in 2017. The frequency of crypto market corrections in 2018 was likely due to the volatile bearish conditions then, as crypto cooled off from a bull run that gained the asset class greater mainstream recognition.

Notably, crypto saw 0 days of correction in 2023, as the market consolidated and made a gradual recovery despite a challenging macroeconomic environment. Bitcoin and Ethereum similarly did not experience any days of price correction last year.

While both the global crypto market and Bitcoin have yet to experience any days of correction so far this year, it remains to be seen if that will be the case for the rest of 2024. On the other hand, Ethereum has already seen 2 days of price correction this year, namely -10.1% on March 20 and -10.0% on August 6, 2024.

#bitcoin #BTC

Crypto’s Covid Crash Still 5X Worse Than 2024 Sell Offs

In the last ten years, the worst global crypto market correction has been the -39.6% Covid-19 crash on March 13, 2020. The widespread sell off saw total crypto market capitalization plunge from $223.74 billion to $135.14 billion day over day (DoD). 

In comparison, the largest crypto market sell off to date this year was significantly less severe at only -8.4%, which took place on March 20, 2024. Similarly, while the most recent drawdown saw 4 consecutive days of decline that shrank total crypto market capitalization from $2.44 trillion on August 2 to $1.99 trillion on August 6, none of the decreases have been large enough to qualify as a market correction.

In fact, crypto has not recorded a single day of market correction since the FTX collapse in November 2022. 

$BTC

Top 10 Upcoming Crypto Airdrops in H2 2024

Crypto Airdrops in 2024
Some possible crypto airdrops to look out for in the second half of 2024 include Layer 2s like Linea, Eclipse, Fuel, and Scroll, along with other projects like Grass, Karak, Initia, Berachain, Zora, and Farcaster.

Key Takeaways :
1.A growing trend in token airdrops is the adoption of a point system which is used to stimulate user participation and liquidity.
2.There has been a good number of airdrops every year since 2020. To increase your chances of qualifying for an airdrop, you can look into becoming an early user of projects that are likely to offer airdrops.
3.Airdrops allows projects to bootstrap liquidity, while also distributing governance rights to users to participate in the future of the project.

#airdop #AirdropWin #AirdropHunting

#bitcoin☀️ and #CryptoNewss
**Kamala Harris Has Dropped Bitcoin and Crypto from Her Campaign**

Kamala Harris has officially removed Bitcoin and other cryptocurrencies from her campaign. The Democratic Party's 2024 platform, announced today, doesn't mention Bitcoin or crypto at all.

On the other hand, Republicans are taking the opposite approach. They are including Bitcoin in their party activities and making promises like defending the rights of Bitcoin miners, allowing Americans to store their digital assets themselves, and protecting financial privacy.

While Donald Trump was speaking at the Bitcoin 2024 Conference in Nashville, Kamala Harris chose not to attend. Even independent candidate Robert F. Kennedy Jr. has voiced his support for Bitcoin.

With nearly 50 million crypto voters in the U.S., this strong opposition could have consequences.

$BTC

🔴 Breaking: Binance URL Unblocked In India After FIU Registration

#Binance Binance's URL has been unblocked in #India after the exchange registered with the Financial Intelligence Unit (FIU) and paid a fine.

The Binance website has now been fully restored and the URL is now accessible to all Indian users. The exchange had faced regulatory issues in India resulting to various stringent actions taken. However, amid various fines settlements, the exchange is now gaining footing in the Indian market.

🟢 Binance URL Now Fully Accessible

Binance, one of the top crypto exchanges, has now achieved a milestone in the Indian market as its URL gets unblocked and accessible to users in that region. The URL unblocking follows its registration with the Financial Intelligence Unit (FIU) and payment of a substantial fine.

The crypto exchange had earlier paid a fine of over $2.25 million for previous non-compliance with Indian regulations. The fine was imposed due to their failure to adhere to India’s anti-money laundering regulations. According to the FIU, the exchange had been carrying out its operations within the country without proper registration and had not complied with local AML requirements.

🟢 India Tax Bill On Binance
Most recently, the Indian government issued a substantial tax bill to Binance. The Ahmedabad unit of the Directorate General of GST Intelligence issued this bill to the exchange, demanding a payment of $86,033,159 in Goods and Services Tax.

The tax recovery notice alleges that the exchange received certain fees from Indian customers trading virtual digital assets on their platform without going through the proper channels by registering under India’s GST framework. This action showcased India’s ongoing efforts to bring cryptocurrency operations under its tax regulations.

#BTC #ETH #BNB

Bitcoin HODLers on the rise! 📈
New data shows that 70% of all #Bitcoin hasn't moved in 6 months!!!
That's a whole lotta HODLing going on!

Check out the graph below!

#bitcoin☀️ #HODLHODL #CryptocurrencyLaunch #Blockchain #Investment #Tribeacademy

Solana is Leading Interest in Chain-Specific Narratives

The Solana ecosystem has emerged as the most popular blockchain ecosystem so far this year, accounting for 49.3% of global crypto investor interest in chain-specific narratives. Solana ecosystem’s dominant mindshare has been fueled by Solana’s continued rally back to 2021 highs, alongside the strong performance of key ecosystem project tokens such as Pyth and native meme coins such as dogwifhat.

Meanwhile, the Ethereum ecosystem has captured 12.7% of investor interest, ranking it as the second most popular blockchain ecosystem in 2024. This is likely because Ethereum is already well-established as an ecosystem and familiar to investors, such that it is no longer considered a new, trending crypto narrative. At the same time, attention towards the Ethereum ecosystem is increasingly dispersed across the layer 2 ecosystems building on top of it.

The third most popular blockchain ecosystem is crypto exchange Binance’s BNB Smart Chain ecosystem, which holds a 5.4% share of investor interest year to date (YTD). As with the Solana ecosystem, the BNB Chain ecosystem has continued to capture mindshare on the back of BNB’s price rallying near to its all-time high.

#sol #Memecoins #BullorBear