Wintermute plans to foray into the on-chain prediction market, with its first betting pool focused on the U.S. presidential elections.

The crypto trading firm and market maker Wintermute disclosed ongoing work on an on-chain betting platform, OutcomeMarket. The decentralized protocol will utilize Oracle technology from Chaos Labs to handle pricing and risk management.

According to the announcement, Wintermute’s prediction platform will launch with two tokens: TRUMP and HARRIS, representing the Republican and Democratic U.S. presidential candidates.

OutcomeMarket is said to debut on major blockchain networks like Ethereum (ETH), Coinbase’s Base, and layer-2 chain Arbitrum (ARB). The web3 startup added that tokens will appear across decentralized finance ecosystems and exchanges to better the trading experience.

Tokens via OutcomeMarket will be usable in DeFi and listed on multiple trading venues, expanding utility and improving accessibility for a broader audience

Wintermute on new U.S. election prediction platform

Own your outcome with OutcomeMarketWintermute is developing a permissionless smart contract for a new US presidential election prediction marketThe market will be accessible across Ethereum, Base, and Arbitrum, supported by @chaos_labs’s Edge Proofs OracleDebuting 2 tokens:… pic.twitter.com/N5IqvOqDaL

— Wintermute (@wintermute_t) September 17, 2024

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Wintermute eyes Polymarket’s arena, but CFTC oversight looms

Wintermute’s latest venture could look to take market share from Polymarket, one of the largest on-chain outcome betting platforms, with over $1 billion in election-related wagers.

Bloomberg integrated Polymarket’s election data into its terminal, further legitimizing decentralized prediction markets. This collaboration occurred despite regulations preventing U.S. bettors from using Polymarket.

The Commodity Futures Trading Commission has taken a firm stance against election betting contracts, arguing that big-money wagers may influence outcomes.

CFTC lawyers attempted to delay Kalshi from listing its prediction market, but a judge overruled it. Still, the regulator continues to challenge Kalshi in court.

In a Sept. 17 speech at Georgetown University, CFTC chair Rostin Behnam said the watchdog would also scrutinize offshore betting platforms with U.S. users. Behnam emphasized that the agency’s proposed ban on prediction markets is part of a fight against what it views as illegal activity and market manipulation.

Read more: Tough times for prediction markets: Kalshi wins case against CFTC, still faces shutdown

Yellow Network, a web3 blockchain platform for decentralized clearing of digital assets, raised $10 million in a seed round led by Ripple co-founder Chris Larsen.

The Ripple co-founder’s investment will help the Yellow Network team bring their blockchain solution to market and address challenges facing crypto traders. In a Sept. 17 announcement, Yellow Network said Larsen’s investment reinforces the network’s crucial role in the crypto space.

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What is Yellow Network?

Yellow Network’s clearing system is a layer 3 peer-to-peer protocol utilizing state channels to facilitate trading and settlement via smart clearing.

Decentralized clearing allows for the settlement of financial transactions between two parties without relying on centralized intermediaries, removing the need for a clearinghouse service typically seen in traditional finance.

The project, which is preparing for the launch of its native token, offers an ecosystem that supports decentralized finance experiences for digital asset exchanges, brokers, and traders.

YELLOW token expected in Q4

In March 2024, Yellow Network announced its partnership with Linea, the layer 2 network for decentralized applications. Yellow Network targets further collaborations and integrations in the crypto sector as it looks to bolster its DeFi penetration and overall trading ecosystem.

The platform launched the testnet for its P2P clearing protocol in December 2023, with the YELLOW token launch expected in Q4 2024.

Yellow Network’s seed round attracted participation from several venture capital firms and investors, including Consensys, Cobo, Moonrock, and NOIA Capital. Other strategic partners backing the project include Fireblocks, Assetum, Magmo, and Qredo.

Read more: Ripple co-founder endorses Harris for president: report

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Intel Markets is gaining attention as a promising presale altcoin, while Litecoin surpasses 1 quadrillion hashes per second, showcasing its network strength and security.

Table of Contents

Intel Markets: A new and cheap altcoin to bet on

Litecoin: 1 quadrillion hashes per second

Aptos: Further downswings on the cards

Conclusion

Amid the market bounce, Bitcoin’s hard fork, Litecoin (LTC), marked a key milestone. Per reports, the network surpasses 1 quadrillion hashes per second, highlighting its strength, security and expansion.

In other news, savvy investors have been betting on IntelMarkets (INTL) ahead of Aptos (APT). Unlike emerging cryptocurrencies with massive upside potential, the appeal of top altcoins typically ends with their popularity. Given INTL’s growth prospects, it might be a more compelling alternative than top crypto coins.

Intel Markets: A new and cheap altcoin to bet on

Intel Markets, one of the most promising initial coin offerings and a utility-backed token, is at the heart of the current market buzz. It has an edge over most established cryptocurrencies like Aptos and Litecoin, highlighting again why presale tokens are a key investment strategy.

As a new ICO, it is heavily discounted and currently in the first stage. It is priced at $0.009, providing a good entry. Industry experts project a 65x jump in value after its debut, primed to challenge the dominance of established cryptocurrencies.

Meanwhile, its key narrative is an AI-powered trading platform. It will be the first modern trading platform that features embedded trading robots at all levels. Unlike conventional blockchains based on old models, INTL will be AI-powered. It aims to further transform the $347 million global crypto trading market via dual-chain functionality (compatible with Solana and Ethereum), 1,000x leverage on select assets, autopilot trading robots and real-time data processing.

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Litecoin: 1 quadrillion hashes per second

Litecoin, a cryptocurrency popular for its fast, secure and low-cost payments, is among the top altcoins. The Bitcoin hard fork ranks as one of the top 20 cryptocurrencies, underscoring its leading status and market dominance. In recent news, the network witnessed a landmark development.

In a recent post on X (formerly Twitter), Litecoin announced the network is over 1 quadrillion hashes per second. Besides highlighting the network’s security, strength and resilience, it also suggests unparalleled expansion.

On the market side, the Litecoin price hovers above the $63 support, up by 4% on the weekly chart. With further gains anticipated and investors stockpiling, the Litecoin wallet has emerged as one of the safest ways to store assets away. 

Aptos: Further downswings on the cards

Aptos, a proof-of-stake (PoS) blockchain, can achieve 150,000 transactions throughput per second. Its novel smart contract programming language, Move, further makes it stand out in the blockchain scene. With a vision of bringing mainstream adoption to web3, it is often in the spotlight.

On the daily and weekly charts, the Aptos crypto price tumbled over 4%, trading around $5.8. It also trades on the downside on the monthly time frame, suggesting a decline in interest and optimism. With further downswing not out of the question, investors have been overlooking APT, choosing other more promising altcoins.

According to an Aptos price prediction, it might retest $4 before the end of Q3. On the other hand, a more bullish forecast points to a quick comeback, projecting a rally past $7 in the coming weeks.

Conclusion

Amid the key milestone of Litecoin, investors have been betting on Intel Markets ahead of Aptos, a top cryptocurrency. Its significant upside potential makes it a must-have coin, as does its impending transformation of the wider crypto trading scene.

To learn more about Intel Markets, visit the official website, and its Telegram and Twitter.

Read more: Next big player: Intel Markets outshines DOGE, SOL

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Grove City College is set to rename its School of Business in honor of alumnus Howard E. Winklevoss, father of Tyler and Cameron Winklevoss, following his $4 million Bitcoin donation. 

This contribution marks the college’s first gift of Bitcoin (BTC) and is aimed at supporting its business programs and ensuring the institution’s continued ability to provide quality education, according to a Grove City press release. 

Winklevoss, a 1965 graduate, is a notable academic and entrepreneur with a background in actuarial science and business technology. His career includes founding multiple companies, such as Winklevoss Consultants and Winklevoss Technologies, which was sold for $125 million in 2023.

Grove City College is a private liberal arts institution in Pennsylvania, known for its commitment to free-market economics and independence from federal funding.

Winklevoss credits his education at the Pennsylvania school for shaping his career. He met his wife, Carol, also a 1965 graduate, during his time at the college.

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Winklevoss and Bitcoin 

Winklevoss became interested in Bitcoin when his twin sons, Tyler and Cameron, introduced him to it in 2012.

Tyler and Cameron are prominent crypto entrepreneurs known for co-founding the cryptocurrency exchange Gemini and advocating for the adoption of digital assets.

Howard saw a connection between Bitcoin and sound money principles, which he first studied under economist Dr. Hans Sennholz at Grove City College. Sound money refers to a monetary system that is not easily manipulated or controlled by governments.

“I first learned about and became fascinated with sound money at Grove City College while studying under Dr. Hans Sennholz, a free-market, Austrian-School economist and professor who studied under Ludwig von Mises…When my twin sons, Cameron and Tyler, introduced me to Bitcoin 12 years ago, I immediately recognized and understood what (Bitcoin inventor) Satoshi Nakamoto had achieved. He had encoded these principles, which had been contemplated for over a century, into digital money. It, therefore, gives me great pleasure to donate the world’s soundest money to the school that first taught me about these concepts 60 years ago.”

Howard E. Winklevoss

This donation is part of a growing trend of using Bitcoin as a charitable gift to institutions. Although Bitcoin is often seen as a speculative digital asset, it has gained traction due to its decentralized nature, which allows transactions without the need for a central authority like a bank. 

Grove City College, known for embracing free-market economics, does not accept federal funding, making private donations like Winklevoss’ critical for its operations, according to the release.

The Winklevoss School of Business will focus on disciplines like Accounting, Finance, Marketing, and Entrepreneurship. Winklevoss hopes his donation will inspire future students to pursue excellence and make a positive impact in their fields.

Circle has expanded its stablecoin operations in Latin America to include Brazil and Mexico.

In a company statement, stablecoin operator Circle revealed that its (USDC) token can now be used to settle payments in Brazil and Mexico. The feature supports USDC conversion into Brazilian reais and Mexican pesos, and vice versa.

Brazilian and Mexican users no longer need to convert their fiat currencies to U.S. dollars before exchanging them for stablecoins.

Circle said businesses can acquire USDC from licensed financial providers for institutional use. The Sept. 17 announcement added that companies can also offer USDC, the second-largest stablecoin, to retail investors.

Circle now supports local bank transfers via PIX and SPEI, the national real-time payment systems in Brazil and Mexico. Eliminating international wires can drastically reduce the time it takes to access USDC – from days to just minutes, releasing capital trapped in the lengthy settlement processes.

Company statement on USDC support in Brazil and Mexico

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Circle moves to New York City

USDC’s issuer revealed its move to Brazil and Mexico days after relocating its global headquarters from Ireland to New York City. The company’s new office is located in the iconic One World Trade Center, solidifying its presence among Wall Street giants.

Shifting its headquarters to New York may be one of the final steps in pursuing an initial public offering. The company is reportedly planning to go public and could become the first stablecoin operator to list shares on U.S. stock exchanges.

Read more: Circle reportedly moving HQ to New York ahead of IPO

Dragonfly Capital, a prominent crypto venture capital firm, is raising $500 million for its fourth investment fund, according to Bloomberg.  

The fund will focus on early-stage projects in the blockchain space, continuing Dragonfly’s strategy of supporting innovative companies. According to an anonymous source who spoke to Bloomberg, the firm has already secured $250 million and plans to close the fundraising by the first quarter of 2025.

While Dragonfly has not publicly confirmed these details, the firm has been a key player in the digital assets market, with a history of investing in over 100 companies, including notable projects such as Ethena (USDE), Cosmos (ATOM), and Monad Labs.

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Dragonfly’s crypto ventures

Dragonfly’s recent activity includes backing Agora, a stablecoin project that has expanded its offerings to the Sui blockchain. The integration of Agora’s stablecoin, AUSD, into Sui is part of a larger strategy to attract institutional users and developers by offering stablecoins that can be used across various blockchain networks. 

In May, Dragonfly Capital’s Haseeb Qureshi disputed claims that venture capitalists were dumping crypto and expressed skepticism about common theories explaining the decline in prices of tokens recently listed on Binance, particularly those with high fully diluted valuations and low circulating supply. In a May 19 post on X, Qureshi addressed these concerns and suggested that market sentiment had turned against these “risky new coins” amid broader market downturns and geopolitical tensions in April.

Dragonfly Capital has been actively raising funds for its venture capital efforts in the crypto space for many years, with notable past successes. In 2022, the firm closed its third fund, amassing $650 million to invest in early-stage projects, according to Bloomberg.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

A crypto pioneer has shifted 70% of their assets from Solana to the rising CYBRO token under $0.10. Explore emerging growth coins.

A renowned cryptocurrency pioneer known for early Bitcoin investments has drastically altered their portfolio. This influential figure has offloaded their Solana holdings, redirecting a significant 70% of their assets into a rising token priced under $0.10. Dive into the details to discover which emerging coins are poised for potential growth.

CYBRO presale achieves $2 million milestone

CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2 million. This unique platform offers investors unparalleled opportunities to maximize their earnings in any market condition.

Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.03 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. In an exciting development, CYBRO has also launched a referral program, offering 12% from direct referees’ token purchases, 3% from second-level referees, and 2% from third-level referees. Rewards are sent weekly in USDT, and referees earn double CYBRO Points on their first deposit using the referral code.

In addition to tokens, CYBRO introduces exclusive points, providing even greater benefits for investors. These Points grant automatic entry into the CYBRO Airdrop, where the number of tokens you receive is proportional to the Points you hold. Up to 1 million Points are distributed weekly, earned by investing in CYBRO’s DeFi Vaults.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.

With only 21% of the total tokens available for this presale and approximately 80 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.

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Bitcoin’s potential shines in continued crypto bull market

Bitcoin, created by Satoshi Nakamoto, was the first cryptocurrency. It relies on blockchain technology to enable decentralized transactions without needing banks. These transactions are verified by miners, who get bitcoins as rewards for solving puzzles. The network has a cap of 21 million bitcoins, and a “halving” event every four years reduces rewards, affecting stability and profitability. 

As we see patterns similar to 2021, Bitcoin could again draw interest. It acts as a digital asset that many believe could protect against traditional financial instability. With altcoin seasons boosting the market, Bitcoin’s role remains crucial as the original and perhaps most influential cryptocurrency.

Solana’s SOL is fueling scalable blockchain growth in 2024

Solana is making waves in the crypto world. It’s built to handle lots of transactions quickly. Developers can create apps using different programming languages. This flexibility draws in creators and investors. SOL is the main currency here. It powers transactions, runs programs, and rewards users. 

Solana doesn’t use sharding or second layers. Instead, it focuses on a strong network. In 2024, with growing projects, Solana’s design attracts attention from all over. The network’s design supports projects with high activity. For those eyeing a promising blockchain, Solana offers potential. SOL is central to this, supporting the whole ecosystem efficiently. The focus is on capacity, making it appealing for future growth.

Conclusion

The shift from BTC and SOL to CYBRO signals a trend among early adopters to explore new avenues with higher short-term potential. CYBRO, built on the Blast blockchain, stands out with its AI-powered yield aggregation. This platform offers lucrative staking rewards, exclusive airdrops, and cashback on purchases. 

Seamless deposits and withdrawals enhance the user experience. Emphasizing transparency, compliance, and quality, CYBRO has attracted significant interest from crypto whales and influencers. Thus, while BTC and SOL may have less immediate potential, CYBRO presents a promising opportunity for maximizing earnings during the current bull run in 2024.

For more information, visit the official CYBRO website or join the community on X, Telegram, and Discord.

Read more: Solana Vs. Ethereum Vs. CYBRO: Here’s what experts say

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XRP struggles, FTX’s moves threaten Solana, but Rollblock’s ICO surges 160%, making it a top crypto pick.

The crypto market is experiencing another turbulence as the final quarter of 2024 closes in. XRP price is struggling to maintain momentum, and FTX’s recent wallet action put Solana at risk of another decline. But Rollblock’s high potential ICO seems to be weathering the storm of this bear descent perfectly. 

Rollblock is massively changing the decentralized gaming space, and it’s now being tipped to dominate the rest of 2024. In fact, its price went an impressive 160% to $0.026 in days after accruing close to $3.5M in liquidity. Is Rollblock the best crypto to buy now? Let’s find out more.

Legal struggles keep dampening optimism for a bullish XRP price

Despite the modest bullish swing in XRP’s price, the promise of a brighter future remains unfulfillable. XRP has been in a legal tussle with the SEC since 2020, and the case has become one of the most closely observed in the crypto world.

Last month, a federal judge ruled that Ripple pay a civil penalty of $125M out of the initial $2B fine. Although most believe this is a partial win, the XRP price is still reeling from the legal tussle. As of press time, XRP has shed its bullish gains to just 0.75%, to $0.56.

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FTX unstake destabilizes Solana’s price

Solana recently faced rough patches, struggling with both network challenges and negative market sentiment. Back in March, Solana’s price peaked at a yearly high of $206 but sharply dropped below $130 in September. This decline was exacerbated by the FTX unstaking just 2% of its $1B staked SOL.

Even before its collapse, FTX and Alameda controlling a significant SOL supply escalated SOL drop to $8. This prompted the question: is Solana still among the best cryptos to buy now? Currently, Solana has shed another 4.9%, pushing its MoM loss to 6% at $130.

Rollblock’s stellar presale affirms its place as a top crypto to buy now

Experts tipping Rollblock to topple Solana and XRP as the best crypto to buy now had seen enough of how well negative market sentiment had caused the duo to lose their footing. Solana reeled under the FTX collapse for over a year, and XRP’s price has yet to make a reasonable return to a bull trend since its SEC drama started in 2020.

Rollblock is coming onto the scene with flawless unique features and a regulatory-compliant iGaming protocol, demonstrating that it is community-driven and user-focused. The AI-powered GambleFi platform is shaking the $500B gambling industry with its fully transparent, no-KYC policy and unique AI betting algorithms. 

Thanks to its groundbreaking approach of blending traditional casinos and decentralized finance, Rollblock offers immense growth potential and a lucrative profit-sharing model. Rollblock generates weekly returns for investors and provides over 30% staking rewards for liquidity providers within the network.

Right now, Rollblock has already raised over $3.4M in its ongoing presale stage 6. The token price has increased by over 160% from its initial offering of $0.01 to $0.026. Analysts predict a 100x gain at launch, thereby making now the best time to buy into this growing crypto opportunity while it’s priced at just $0.026.

For more information, visit the Rollblock presale website or join the online community.

Read more: Rollblock’s surge set to dwarf DOGE and SHIB as crypto whales take notice

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

IoTeX, a decentralized physical infrastructure network, and Polygon Labs have announced that IoTeX 2.0 will integrate with AggLayer to power cross-chain communication and liquidity across the DePIN ecosystem.

Raullen Chai, the chief executive officer and co-founder of IoTeX (IOTX), disclosed the partnership on Sept. 17 at the R3al World event in Singapore.

As the DePIN market experiences significant growth, developers have focused on innovations that can enhance communication and cross-chain liquidity.

Read more: Solana sees DePIN surge with Render, Helium

Polygon projects tap into IoTeX infrastructure

AggLayer is a decentralized service designed to connect blockchains, enabling projects on different chains to programmatically distribute rewards. The protocol’s infrastructure promotes efficiency and further scales the $19.7 billion DePIN market, according to a press release shared by IoTeX and Polygon Labs.

Notably, multiple projects on Polygon (POL) have integrated IoTeX technology, including CoinFund and Pantera Capital-backed DePIN project GEODNET, and DIMO, a user-owned network that turns users’ car data into assets.

GEODNET joined IoTeX as it launched the DePIN Liquidity Hub, while DIMO leveraged IoTeX’s layer-2 protocol W3bstream for its zero-knowledge proofs concept on data privacy and off-chain computation.

IoTeX 2.0

IoTeX and Polygon Labs first collaborated in 2021, working together on a cross-chain bridge and non-fungible token initiative.

IoTeX released its IoTeX 2.0 whitepaper in July 2024, with the broader goal being a modular blockchain network that accelerates DePIN adoption. IoTeX 2.0 launch partners include Near Protocol (NEAR), Filecoin (FIL) and RISC Zero. Others are OKX, Axelar and The Graph (GRT).

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American restaurant Flyfish Club has signed a settlement agreement with the U.S. SEC regarding an “unregistered offering of crypto asset securities.”

Flyfish Club will pay a fine of $750,000. According to the SEC ruling, between August 2021 and May 2022, Flyfish Club sold around 1,600 NFTs to investors. These tokens were supposed to become an exclusive means of obtaining membership in the club.

According to the regulator, the project earned $14.8 million, and the capital was planned to finance the construction and launch of a private restaurant, Flyfish Club, intended only for club members. In addition, 42% of investors bought several NFTs, although only one token is needed to become a club member.

“Flyfish engaged in significant marketing efforts that promoted the NFTs as investments and led investors to expect profits from Flyfish’s efforts.”

Table of Contents

Why the SEC is interested

SEC scares NFT industry

Politicizing the SEC’s approach

Coinbase joins the fight against the SEC

Why the SEC is interested

The regulator argues that these NFTs fall under federal securities laws because token holders can resell them at a higher price and earn passive income by renting them out.

Based on these findings, the agency said Flyfish Club violated Sections 5(a) and 5(c) of the Securities Act of 1933 by failing to register the collectible tokens as securities. The SEC’s order requires Flyfish Club to pay a civil penalty of $750,000 and destroy all NFTs in the company’s possession within ten days.

However, not all SEC officials agree with the agency’s actions. Former SEC representatives Hester Peirce and Mark Uyeda insist that Flyfish Club’s NFTs are utility tokens, not securities. They were created to provide access to exclusive dining offers and not as speculative investment vehicles. Peirce and Uyeda are concerned that the SEC’s intervention could negatively impact NFT holders by making them even more difficult to transfer and resell.

“Leaving crypto to be addressed in an endless series of misguided and overreaching cases has been and continues to be a consequential mistake.”

The commissioners emphasized that NFTs are a new tool for chefs and artists to monetize their talents and provide unique experiences that overly restrictive regulatory interpretations shouldn’t stifle.

SEC scares NFT industry

In August, the SEC threatened to sue OpenSea, arguing that the collectible tokens traded on OpenSea are securities.

OpenSea CEO Devin Finzer reacted to the SEC’s Wells notice, calling it “regulatory saber-rattling” that’s venturing into “uncharted territory”. He feared it could backfire and cause creators of NFTs to stop making digital art.

OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities.We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight.Cryptocurrencies have long…

— Devin Finzer (dfinzer.eth) (@dfinzer) August 28, 2024

Finzer said the company would defend the rights of digital artists and promised to set aside $5 million to cover legal costs for any NFT developers who might receive a similar notice from the regulator.

You might also like: SEC probes OpenSea, but NFT artists are likely not the target | Opinion

Politicizing the SEC’s approach

The SEC, meanwhile, continues to face criticism from the crypto community and U.S. lawmakers. In 2022, the agency first turned its attention to NFTs, accusing a Los Angeles-based media company of selling unregistered securities through NFTs. The case ended in a $6 million settlement.

In the wake of the harassment, the U.S. House Subcommittee on Digital Assets, Fintech, and Inclusion said it would hold a hearing titled “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets.”

Subcommittee said SEC Chairman Gary Gensler “prioritized and pursued an enforcement and regulatory agenda to the detriment of the digital asset ecosystem” during his tenure on the panel.

“During Chair Gensler’s tenure, the SEC has not released guidance on how the SEC determines whether a digital asset meets the definition of a security. Rather, Chair Gensler and the SEC have publicly opined.”

They cited inconsistencies with SEC Chair’s position on digital assets as securities under the Howey test and disagreements among commissioners.

Former SEC Commissioner Dan Gallagher and former agency lawyer Michael Liftick are expected to testify at the hearing on Sep. 18.

Coinbase joins the fight against the SEC

In September, Coinbase founded the legal advocacy group Stand With Crypto and launched a Legal Defense Fund to protect NFT projects.

Today, we raise our shield to protect a foundational part of the crypto community. Alongside @opensea & @a16zcrypto, we are launching a $6m legal defense fund for NFT creators. Creatives can now stand up to misguided actions from the SEC.Learn more: https://t.co/8fc2YEQs80 https://t.co/PTwzaJiCIq pic.twitter.com/dmOtoN3gbi

— Stand With Crypto🛡️ (@standwithcrypto) September 13, 2024

On Sep. 13, Stand With Crypto announced a $6 million fund backed by venture giant a16z and NFT marketplace OpenSea.

Leading law firms back the fund: Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP will provide critical legal resources to those working in the blockchain and NFT space. According to the statement, a16z contributed $1 million to the Creator Legal Defense Fund, while OpenSea donated $5 million.

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Cryptocurrency prices were mixed as traders focused on the upcoming Federal Reserve meeting, with the crypto fear and greed index remaining in the fear zone.

Immutable X (IMX), the gaming and non-fungible token-focused coin, was the best performer, rising by 17.7% to its highest point since Aug. 31. It has jumped by almost 60% from its lowest level in August.

Immutable’s jump occurred as total NFT sales in its ecosystem surged by over 125% in the last 24 hours. These sales were primarily driven by Guild of Guardians Heroes, whose sales rose by 145% to $647,067.

Still, like other chains, Immutable’s NFT sales have been in a long-term downward trend over the past few months. Sales dropped by 33% in the last 30 days to $15 million, while the number of buyers fell by 31% to 12,177.

You might also like: Immutable X braces for a big token unlock as NFT sales drop

Celestia (TIA), a leading player in modular data, rose by 15% to its August 26 high, while Bittensor (TAO) jumped by 13% to its June 24 high. These tokens gained as demand among investors increased, with Celestia’s 24-hour volume rising by 23% to $138 million and Bittensor’s volume rising by 5% to $85 million.

Bittensor also benefited from the rising interest in artificial intelligence-focused coins and stocks. Nvidia shares have rallied by 9% in the last five days, while Microsoft rose by 7%. Microsoft, a major investor in OpenAI, the maker of ChatGPT, saw increased positive sentiment, with 85% of CMC users being bullish. 

Looking ahead, the main catalyst for these altcoins will be Wednesday’s Federal Reserve decision. 52% of participants in a Polymarket poll with over $45 million in assets expect the Fed to cut rates by 0.50%. 47% of them see a 0.25% cut.

In theory, these tokens should perform well when the Fed starts cutting interest rates, as it would incentivize investors to move to riskier assets. However, there is also a risk that these coins could retreat, as the rate cut may already be priced in by market participants

This likely explains why the crypto fear and greed index has remained in the fear zone at 34. Historically, cryptocurrencies tend to drop when fear dominates market sentiment.

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Binance has denied responsibility for the WazirX cyber-attack, stating it never controlled the platform or the compromised wallet.

Cryptocurrency exchange Binance publicly refuted claims of responsibility for a recent cyber-attack on the Indian crypto exchange WazirX, emphasizing that it never controlled the platform. Binance also criticized WazirX co-founder Nischal Shetty for misleading statements.

In a Sept. 17 blog post, Binance denied claims that it had acquired or controlled WazirX, asserting that it never “owned, controlled, or operated WazirX at any time, including before, during, or after the July 2024 attack.” Binance criticized Shetty for misleading statements attempting to shift blame for the attack, which targeted a wallet managed by WazirX and the third-party custodian Liminal.

“[…] [Nischal Shetty] is trying to deflect the blame and claim that Binance may somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyber-attack. This is false, and any suggestion of the sort is outrageously misleading.”

Binance

Binance distances from WazirX’s downfall

While Binance had previously provided tech solutions to WazirX, it rejected any responsibility for the attack’s aftermath. Binance pointed out that once WazirX’s funds were removed from its platform due to a failed acquisition deal, the selection of Liminal as a custody provider was made independently by Shetty and Zettai, without Binance being consulted or informed.

WazirX incurred a $235 million loss from the July 18 cyber-attack, which severely impacted the exchange and led it to seek a Scheme of Arrangement in Singapore, a restructuring process under local insolvency laws. An independent audit by Grant Thornton later found no evidence implicating Liminal Custody’s infrastructure in the multi-million dollar hack.

Read more: WazirX hacker transfers 1,600 ETH to Tornado Cash

Shiba Inu is stuck in a deep bear market after falling by over 71% from its highest level this year, making it one of the top laggards in the crypto industry.

Shiba Inu (SHIB) was trading at $0.000013 on Tuesday, Sept. 17, as third-party data showed its demand was waning.

According to CoinGecko, SHIB’s 24-hour volume was just $177 million, significantly lower than Pepe’s (PEPE) $747 million and Dogwifhat’s (WIF) $290 million. SHIB has also been outpaced by smaller tokens like Baby Doge Coin and Neiro, which had $205 million and $364 million in volume, respectively.

Additional data reveals that Shiba Inu’s open interest in the futures market has dried up. It stood at $24 million, where it has remained for the past few months, down from the year-to-date high of $137 million.

Shiba Inu’s price action is likely influenced by significant changes in the meme coin industry over the past 12 months. The biggest shift has been the launch of Pump.fun and SunPump, which have simplified the process for developers to launch their own meme coins.

Pump.fun meme coins have accumulated a market cap of over $500 million, while SunPump tokens have reached a valuation of over $514 million. Some of the most popular meme coins among traders are Sundog, Tron Bull, Dogwifhat, Bonk, and Brett.

Shiba Inu’s price has also lagged despite the network’s continued token burns. According to Shibburn, the burn rate in the last 24 hours jumped by 440% to over 28.2 million coins. As a result, the total number of burned coins has reached over 410 trillion. 

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In theory, token burns are seen as positive catalysts for a cryptocurrency, as they reduce the number of coins in circulation.

Meanwhile, Shiba Inu’s underperformance is likely due to the weak growth of its ecosystem. Data compiled by DeFi Llama shows that Shibarium, its Layer 2 network, has attracted just $1.17 million in assets while ShibaSwap has $15.64 million. 

Shiba Inu forms risky pattern

Shiba Inu price chart | Source: TradingView

SHIB formed a death cross in July as the 200-day and 50-day moving averages made a bearish crossover, with the price dropping by over 30% since then.

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Shiba Inu has also formed a descending triangle pattern, with the lower side at $0.0000126. In technical analysis, a descending triangle is considered a highly bearish chart pattern.

Therefore, there is a risk that the token will experience a bearish breakout as the triangle nears its confluence. If this happens, it could drop to the next key support level at $0.000010, its lowest swing on Aug. 5, which is 20% below the current level.

Aptos Foundation has announced that Stacks, the Bitcoin Layer 2 protocol, will integrate Bitcoin into the Aptos ecosystem.

Bitcoin layer-2 solution Stacks (STX) is introducing its Bitcoin-backed asset, sBTC, to the Aptos network, enabling developers to incorporate sBTC into decentralized applications. According to a press release shared with crypto.news, this move will allow Bitcoin (BTC) to be used across decentralized applications built on Aptos (APT), which is powered by the Move programming language.

At the core of this integration is sBTC, a Bitcoin-backed token that enables Bitcoin to be securely transferred to Layer 2 networks like Stacks. With sBTC, Bitcoin can now be used in programmable ways rather than just being held as a store of value.

The integration will enable Bitcoin holders to use their assets in various new ways, including within gaming, artificial intelligence, social platforms, decentralized finance, and non-fungible token marketplaces.

For developers and users on Aptos, this opens up new possibilities for Bitcoin’s functionality within different applications. Bitcoin holders will now have more opportunities to use their assets beyond just holding or trading, such as engaging in decentralized finance or participating in NFT markets.

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Collaboration details

The collaboration between Aptos and Stacks aims to combine the strengths of both platforms. Aptos is known for its scalability as a Layer 1 blockchain, making it suitable for high-demand use cases in decentralized finance and payments. Stacks, on the other hand, focuses on enhancing Bitcoin’s utility and security.

Together, these ecosystems plan to bring real-world use cases to the forefront, making Bitcoin a more functional asset within Web3.

Mitchell Cuevas, Executive Director at the Stacks Foundation, noted that this integration reduces barriers between Bitcoin and real-world applications.

“The integration of sBTC on Aptos reduces the barriers between the world’s most adopted digital asset and the internet-grade, real-world applications that Bitcoiners have been eagerly awaiting.”

Mitchell Cuevas, Executive Director at the Stacks Foundation. 

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Ripple, the popular payment-focused cryptocurrency, is nearing a crucial level ahead of the upcoming RLUSD stablecoin launch.

Ripple (XRP) was trading at $0.5850 on Tuesday, Sept. 17, where it has remained for the past few months, giving it a market cap of over $32 billion.

The next big catalyst for the XRP price will be the launch of its stablecoin, RLUSD, which will be backed 1:1 by the U.S. dollar.

Ripple hopes the stablecoin will become a significant player in an industry that has attracted over $172 billion in assets.. Tether (USDT), the largest stablecoin globally, holds over $118 billion in assets. It also generates billions of dollars in revenue, making it more profitable than BlackRock, a company with over $10.7 trillion in assets.

Ripple’s biggest challenge will likely be the competitive nature of the stablecoin industry, where Tether has become highly dominant. Other popular stablecoins Ripple will compete with include (USDC), Dai, and PayPal’s PYUSD. 

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XRP price will also likely react to the upcoming Federal Reserve decision, which could drive more demand for risky assets. Ripple has historically performed well when the Fed has taken a dovish stance. It surged to a record high of $2.00 in 2021 when the Fed slashed interest rates to zero due to the pandemic. However, it dropped by over 60% in 2022 as the Fed hiked rates.

XRP price nears a crucial level

XRP price chart | Source: TradingView

Technically, Ripple has traded sideways over the past few months. This price action has resulted in the formation of a symmetrical triangle pattern, connecting its highest swing since November 2021 and its lowest levels since June 2022.

The two lines of the triangle are now nearing a confluence point. XRP has also moved slightly above the 50-week and 200-week exponential moving averages, while the accumulation/distribution indicator is pointing downward. It has also formed a bullish flag on the monthly chart.

$XRP: “This near 7-year compression will be coming to an end soon. The mother of all bull flags.” –@CredibleCryptoAs I’ve said many times… $XRP cannot, and will not, stay in this range against the dollar forever.I firmly believe $XRP will ultimately hit a new all time high. https://t.co/mWkR22cIik

— Moon Lambo (@MoonLamboio) September 17, 2024

Therefore, Ripple is likely to make a significant move in the next few weeks. A volume-supported breakout above the upper side of the triangle could push it to the psychological level of $0.9315, its highest swing in July 2023, which is 60% above the current level.

Conversely, a strong drop below the lower side of the triangle could see it fall to the next support point at $0.2900, its lowest swing in June 2022 and 50% below the current level.

Orderly Network has partnered with Google Cloud to launch an artificial intelligence bounty program, inviting programmers to create autonomous trading agents for web3.

Web3 infrastructure hub Orderly Network has launched an AI bounty program in collaboration with Google Cloud and Empyreal, an intelligent infrastructure for web3, aiming to attract developers to create autonomous trading agents on a blockchain.

Per a Sept. 17 press release shared with crypto.news, the initiative will reward participants who build AI-driven agents capable of executing trades on Orderly Network’s liquidity layer, though the prize amounts and payment methods were not disclosed.

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The program seeks to encourage the adoption of automated trading bots that can interact with multiple data sources, allowing traders to “make more informed decisions.” Orderly Network chief operating officer Arjun Arora said the initiative is intended to support the development of an onchain derivatives platform powered by AI agents.

“This initiative invites both web2 and web3 developers to build autonomous agents utilizing diverse data sources, bridging the gap between today’s potential and the future of DeFi.”

Arjun Arora

Under the partnership agreement, Empyreal will provide a software development kit to streamline the creation of AI agents, making it easier for developers to transition from web2 to web3, while Google Cloud will provide cloud and AI technology to support the scaling of these applications.

Orderly Network says the bounty program will run for several weeks, with developers eligible to win prizes based on their AI agents’ performance.

The campaign is expected to drive the development of more sophisticated trading tools within the decentralized space, Orderly Network says, noting that while AI agents are gaining traction within the crypto space, the technology “is still in its infancy.”

Read more: Artificial intelligence can add new dimension to crypto crimes, Elliptic says

Anemoy, a tokenized securities issuer powered by on-chain finance platform Centrifuge, has partnered with Archax to bring their Liquid Treasury Fund to the platform.

Centrifuge, Anemoy and Archax are partnering to expand access to new investment opportunities in the tokenized real-world assets market.

Per a press release shared with crypto.news, the partnership will allow London-based Archax to offer its users direct access to the U.S. Treasury bills via Anemoy’s liquid treasury fund.

Liquid funds relate to investments that one can easily liquidate for cash, and includes short-term treasury bills. 

The partnership looks to tap into Anemoy’s web3 infrastructure, Centrifuge’s growing traction in the real-world assets, and Archax’s distribution channels and venture capital.

Read more: Centrifuge unveils ‘Centrifuge Connectors’ to bridge real-world assets with DeFi

With Archax handling sub-custodial services as well as compliance via know your customer, the move is intended to make it easier for institutional investors to gain exposure to T-bills, thereby expanding Archax users’ investment portfolio beyond USDC (USDC).

The strategic partnership with Archax, which is the first regulated digital assets exchange in the U.K., comes days after asset manager Janus Henderson announced its collaboration with Centrifuge and Anemoy.

On Sept. 13, Centrifuge revealed that Janus Henderson was taking over the management of Anemoy’s LTF, with the firms’ eyeing a market that is attracting major financial advisors and asset managers.

Nick Cherney, the head of innovation at Janus, said that the decentralized blockchain and the RWA market could be bigger and potentially more disruptive that the exchange-traded funds space.

According to Cherney, there’s possibility that these investments around decentralized blockchain will do to ETFs what the exchange-traded funds did to mutual funds.

Recent RWA.xyz data shows the global tokenized real-world assets market has grown to over $12 billion, with tokenized treasuries accounting for about $2.2 billion.

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With the FOMC meeting around the corner, could a rate cut provide the liquidity boost Bitcoin needs to rally, or will a smaller cut lead to market jitters?

Table of Contents

All eyes on FOMC meeting

How much will the Fed cut rates?

What’s next for Bitcoin? 

What lies ahead

All eyes on FOMC meeting

The Federal Open Market Committee is gearing up for another critical meeting on Sep. 18, and all eyes are on the Federal Reserve’s next move. 

The U.S. economy added 142,000 jobs in August, 28,000 more than July, giving a slight boost to confidence. However, it’s not all roses — revisions slashed 89,000 jobs from the previous two months, signaling that the job market might not be as strong as it appeared. 

Private payrolls saw a modest increase of 118,000, while the unemployment rate dipped a touch to 4.2%, driven mainly by the end of temporary layoffs.

On the inflation front, there’s a clearer yet somewhat confusing picture. Consumer Price Inflation in August fell to its lowest level since Feb. 2021, hitting 2.5% on a 12-month basis, which was slightly below the forecast of 2.6%. 

However, core inflation — excluding the volatile food and energy sectors — rose 0.3% for the month, which was higher than expected. 

This leaves the Fed in a tricky situation: while overall inflation is cooling, the sticky core inflation remains a thorn in their side, holding steady at 3.2%.

Now, what will the Fed do next? While many expect a quarter-point rate cut, even a half-point rate cut is on the horizon. So, where could the crypto markets go from here? Let’s break down the potential scenarios and what experts think will happen next.

How much will the Fed cut rates?

Historically, rate cuts have boosted risk assets, and many are hoping for the same this time around, especially for crypto assets like Bitcoin (BTC). But how much the Fed decides to cut will have a big impact on how the markets react.

Right now, traders are split between two possibilities: a 25 basis points (bps) cut or a more aggressive 50 bps cut. 

According to the CME Watchtool on Sep. 16, there’s a 41% chance the Fed will go with a 25 bps cut, bringing the rate down to the 5%-5.25% range. However, there’s also a 59% chance of a larger, 50 bps cut, which would bring rates to the 4.7%-5% range.

As per analysts from 10x Research, a 50 bps cut might actually spook markets instead of boosting them. The thinking is that such a big move could signal that the Fed is worried about the economy, which might make investors cautious about holding riskier assets like Bitcoin. 

In this case, we could see a sell-off in crypto and stocks as traders pull back, bracing for more economic trouble ahead.

Ultimately, how the crypto market reacts will depend on what traders have already priced in. After the decision, all eyes will be on Fed Chair Jerome Powell’s comments as investors look for clues about what might come next.

What’s next for Bitcoin? 

As the crypto market awaits the Fed’s upcoming rate cut decision, Bitcoin has struggled to break through a key resistance level. 

Since early August, Bitcoin has repeatedly failed to close above $62,000, and as of Sep. 16, it’s down over 2%, hovering around $58,600.

According to renowned macro trader Craig Shapiro, this price action is closely tied to the market’s demand for liquidity, which he calls the “PALM,” or “perpetually accelerating liquidity machine.” 

The Fed doesn't want to start with a 50bps cut because frankly, at this point, the economy doesn't need them to panic. The market wants them to start with 50 and go bigger and faster because the market acts like a petulant child in constant need of "moar" liquidity. I have…

— Craig Shapiro (@ces921) September 6, 2024

Shapiro explains that the market acts like a “petulant child,” selling off risk assets when it doesn’t get enough liquidity from the Fed.

Shapiro believes that the Fed needs to deliver a 50 basis point (bps) rate cut to satisfy the market’s liquidity cravings. He warns that a smaller 25 bps cut might disappoint investors, leading to further corrections in Bitcoin and other risk assets. 

Essentially, the market is looking for the “Fed put strike price” — the level at which the Fed steps in to prevent a deeper downturn.

However, a larger 50 bps cut, while addressing the immediate liquidity needs, could signal deeper economic concerns. Historically, aggressive cuts have indicated that central banks are worried about slowing growth, which could trigger sell-offs rather than rallies. 

This is the irony: while more liquidity can drive asset prices higher, too much too quickly may have the opposite effect.

There is hope for Bitcoin bulls, though. According to crypto analyst Miles Deutscher, Q4 has historically been the strongest quarter for both the S&P 500 and Bitcoin. 

2. Q4 is also the strongest quarter for #Bitcoin (by far).During this period, $BTC averages a return of +88.84%.During the last 2 halving years (like this one), BTC rose by +58.17% (2016) and +168.02% (2020).Q3 is also it's WORST period, which we have experienced this year. pic.twitter.com/G1Zhc4KPAx

— Miles Deutscher (@milesdeutscher) September 14, 2024

Since 1945, the S&P 500 has gained an average of 3.8% in Q4 and risen 77% of the time. Bitcoin averaged a remarkable return of 88.84% in Q4, and in previous halving years like 2016 and 2020, it saw gains of 58.17% and 168.02%, respectively.

While Q3 has been Bitcoin’s worst-performing quarter historically, Q4 could offer a rebound—especially if the Fed’s rate cut aligns with expectations. 

However, volatility remains a risk if the Fed’s action is smaller than expected or if macroeconomic conditions worsen.

What lies ahead

After the Fed’s decision on Sep. 18, the real focus will be on Fed Chair Powell’s comments. His outlook on future rate cuts could either set the stage for a strong Q4 rally or keep markets on edge. 

If Powell hints at more rate cuts ahead, Bitcoin and other risk assets might get the fuel they need to climb. But if he plays it cautious, we could see more market jitters.

At the same time, the U.S. presidential election race in November adds another layer of complexity. 

Republican nominee Donald Trump has openly embraced crypto, launching his own project, World Liberty Financial, along with other crypto-focused initiatives. His clear stance could attract crypto supporters seeking a favorable regulatory environment.

On the other hand, Democratic nominee Vice President Kamala Harris has remained largely silent on crypto, and her views on the issue are unclear. 

With both candidates representing starkly different approaches, the election could be a major turning point for the crypto market as investors weigh their options heading into 2025.

Ethereum co-founder Vitalik Buterin’s giving a keynote speech at TOKEN2049 — and there will also be a star-studded appearance from MOTHER founder Iggy Azalea.

TOKEN2049 is kicking off in Singapore this week — with the sold-out conference billing itself as the world’s largest crypto event.

Whereas Bitcoin 2024 is renowned for having a dim view of altcoins, this gathering is set to be a more open-minded affair, with everything from Web3 to DAOs on the agenda.

More than 30,000 attendees are going to pile into the luxury, five-star Marina Bay Sands resort, with regulars on the conference circuit appearing in panels and fireside chats.

But with the crypto markets fearful of what lies around the corner and no shortage of bearish price action, the atmosphere may be far from upbeat.

Get around Singapore in style during #TOKEN2049🚌 Free rides on the TOKEN2049 double-decker bus: Show your TOKEN2049 ticket, or badge and wristband to get on board!🚕 Free trips via TADA Mini x @ton_blockchain🚗 Free rides on @Drife_officialTo learn more 👉

— TOKEN2049 (@token2049) September 17, 2024

Wednesday’s proceedings will feature a chin-scratching conversation on crypto’s changing landscape — as regulators vie to catch up with this fast-moving industry.

A keynote speech from Arthur Hayes on current macroeconomic events will also prove enlightening, with the Federal Reserve widely expected to cut interest rates this week.

But his long and in-depth essays on crypto matters have often been wrong just as much as they’ve been right. By his own admission, lofty predictions that a brand-new bull market would begin this month haven’t materialized — and warnings that Bitcoin could sink below $50,000 also proved wide of the mark.

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All eyes too will be on a 20-minute slot led by Ethereum co-founder Vitalik Buterin, and there’s little doubt crowds will want updates on the blockchain’s roadmap.

He’ll appear again on a panel alongside OKX founder Star Xu and Circle chairman Jeremy Allaire to discuss what the next three years will look like for crypto — but pragmatically, it’s near impossible to anticipate the next big trend that’ll dominate the market.

Few could have foreseen the runaway popularity of Hamster Kombat, insatiable demand for prediction markets, the ascendancy of political memecoins, nor the frenzied activity on Pump.fun, where anyone can create their own coin in a matter of minutes.

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Indeed, TOKEN2049 is shaping up to be a star-studded affair in this regard, with the Australian rapper Iggy Azalea set to appear on a panel entitled “The Virality of Value: Memecoins in the Attention Economy.”

Azalea hit headlines back in May when she launched her MOTHER token — and regularly posts about the digital asset to her 7.7 million followers on X. But given the coin’s fallen by more than 75% from all-time highs of $0.24 set in June, it hasn’t been an easy ride for holders.

Off to singapore we gooooo 🤠✨ pic.twitter.com/AGvwfAuX49

— IGGY AZALEA (@IGGYAZALEA) September 16, 2024

A recurring theme

Several of the panels at TOKEN2049 are going to center on mainstream adoption — with lively debate on what it will take for crypto to be used by the masses.

The hurdles that stand in the way are pretty clear to see. Many trading platforms still lack an intuitive user interface, and can be a steep learning curve for newcomers. Skyhigh fees when making transactions also prices out consumers in emerging economies — and as Buterin’s pointed out in the past, they can sometimes cost more than what workers in low-income countries earn in a day.

What’s more, the narrative surrounding Bitcoin being used as an everyday payment method has failed to take off — primarily because of its volatility. For evidence of this in action, just look at Laszlo Hanyecz, who stumped up 10,000 BTC for two pizzas in May 2010. Today, that crypto haul would be worth a jaw-dropping $600 million.

Nonetheless, there are pockets of crypto that have a compelling opportunity to represent the future of finance — especially stablecoins. Pegged on a 1:1 basis with fiat currencies, the likes of USDT and USDC are opening up access to digital dollars — and making cross-border payments both cheaper and faster. Given the Federal Reserve is continuing to drag its heels on the development of a central bank digital currency, there’s a decent chance that these private alternatives could play a much bigger role in the economy over the years to come.

Crypto conferences always offer a heady blend of business and pleasure, and it looks like TOKEN2049 will be no exception. A huge afterparty is planned for once the conference concludes — boasting musical acts, an open bar, and views of the Singapore Grand Prix. Tickets for last year’s gig were snapped up in a matter of minutes.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Binance Coin eyes a $600 breakout as Raboo gains momentum, positioning itself as a potential top 20 crypto with its smart AI-powered meme platform.

Table of Contents

BNB gears up for a breakout

Raboo’s top 20 crypto potential

How Raboo stacks up against BNB

Looking ahead: Raboo’s top 20 crypto aspirations

Binance Coin (BNB) is nearing its next big resistance level, targeting the $600 mark, but still nearly $200 down from the BNB ATH. Meanwhile, Raboo (RABT) is generating buzz as a potential top 20 crypto contender, offering significant upside as its presale continues to gain momentum.

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BNB gears up for a breakout

BNB climbed to $530.28, still 26% below its BNB ATH of $720.67 set on June 6, 2024. Analysts are optimistic about a move towards $600, fueled by increased market confidence and Changpeng Zhao’s return to leadership. A 148% surge in trading volume reflects this growing interest. 

However, BNB remains within a trading range of $520 to $600, with the path to retesting its BNB ATH depending on further bullish momentum. Breaking through the $600 barrier could signal the next phase of growth, but the token still has challenges before reaching previous highs.

Raboo’s top 20 crypto potential

While BNB continues to move toward key resistance levels, Raboo is rapidly positioning itself as one of the next top 20 cryptos to watch. With a new approach combining AI-powered meme generation and SocialFi elements, Raboo has managed to raise over $2.4 million during its presale.

Raboo’s strength lies in its community-driven model, allowing users to earn RABT tokens through meme creation challenges and social engagement. This “Post-to-Earn” approach has given Raboo a unique position in the $62 billion meme sector, separating it from other memecoins that rely solely on speculative hype.

The project’s solid tokenomics—featuring a total supply of 1.8 billion RABT tokens—is designed to ensure long-term sustainability. With no buy or sell tax and an undervalued price of just $0.0057, Raboo is highly accessible to a broad range of investors, giving it the potential to break into the top 20 crypto rankings.

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How Raboo stacks up against BNB

Though BNB’s price is currently far above Raboo’s entry point, Raboo presents a much higher risk-reward scenario for investors. BNB’s all-time low (ATL) of $0.09611 in 2017 represents a staggering +563806.72% gain to its current price, highlighting its massive past growth. However, with its ATH 26% higher than today’s value, BNB may be nearing its short-term ceiling, leaving room for smaller, high-growth projects like Raboo to shine.

Raboo’s unique combination of AI, SocialFi, and its engaged community of meme creators gives it a competitive edge. Unlike BNB, which heavily relies on the larger Binance ecosystem for growth, Raboo is built around a decentralized model. This allows users to interact and earn rewards directly through the platform. This gives Raboo flexibility and more space to navigate the evolving crypto landscape, especially as the next generation of memecoins begins to emerge.

Looking ahead: Raboo’s top 20 crypto aspirations

While BNB’s rally toward $600 is certainly promising, Raboo’s growth potential offers a much more exciting prospect for investors looking to capitalize on the next big opportunity. Analysts are increasingly confident that Raboo’s presale success and its platform will propel it into the ranks of the top 20 crypto projects in 2024, with significant room for price appreciation beyond its launch.

Interested users can participate in the Raboo presale on the official website, and visit its Telegram and Twitter.

Read more: Solana price expected to reach $200 by 2025; Raboo sees 1000x potential in Q4

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