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🇷🇺 Cryptocurrency exchanges in Russia will be required to obtain a license and store all information about cryptocurrency owners for at least 5 years. In addition, exchanges must provide data to law enforcement and other government agencies upon request. All cryptocurrency exchanges operating in Russia will be required to store data on both the sender and recipient of cryptocurrency transactions. Rosfinmonitoring emphasized that this initiative will help investigate crimes in the cryptocurrency sphere. #BTC #Crypto

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💀 Here’s why ApeCoin has suffered a harsh reversal ApeCoin token experienced a sharp reversal on Oct. 22, erasing some of the gains made in the previous five days. ApeCoin (APE), associated with Yuga Labs, the creators of Bored Ape Yacht Club, retreated to $1.44, down by nearly 20% from its highest level this week. Despite this drop, it remains 200% above its lowest point in August. The crash occurred two days after Yuga Labs launched ApeChain, its much-anticipated layer 3 network on Arbitrum One. ApeChain allows developers to build applications in industries such as gaming, decentralized finance, and non-fungible tokens. Additionally, ApeChain enables ApeCoin holders to generate returns by staking their APE tokens, a process where users delegate their tokens to secure the network and earn rewards in return. ApeCoin’s unique feature is its automatic yield mode, allowing tokens to reinvest automatically, maximizing returns. Yuga Labs hopes that ApeChain will help expand its ecosystem at a time when Bored Ape Yacht Club is struggling. Data from CryptoSlam shows that BAYC sales have dropped significantly this year, with total sales reaching $7.1 million in September, down from $41 million in March. At its peak in January 2021, BAYC had sales of $346 million. ApeCoin’s price drop can be attributed to two main factors. First, the decline occurred as investors “sold the news.” Typically, assets rise ahead of and immediately after a major event, followed by a pullback as some investors take profits. Second, APE’s price dropped as investors anticipate more challenges for ApeChain, given the highly saturated layer 1, 2, and 3 industries. Additionally, the sell-off was impacted by broader weakness in the crypto market. Bitcoin (BTC) pulled back to $67,000 after reaching $69,300 on Oct. 21, while the total market cap of all cryptocurrencies dropped by 3% to $2.43 trillion. #APE #Apecoin

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⭐️ Michael Saylor Says He'll Give Away His Bitcoin — Like Satoshi Nakamoto Michael Saylor, co-founder and executive chairman of MicroStrategy, wishes to leave his wealth to humanity, following in the footsteps of the pseudonymous Bitcoin creator Satoshi Nakamoto. In a recent interview with The New Zealand Herald, Saylor reflected on his personal motivation, revealing his goal goes beyond wealth. “I’m a single guy, I have no children — when I’m gone, I’m gone. Just like Satoshi left a million Bitcoin to the universe, so I’m leaving whatever I’ve got to the civilization,” he said. In the interview, Saylor described Bitcoin as the future of economics, comparing it to steel and electricity. “You take away steel and electricity—those are two big ones—take away the electricity, you have no elevator,” he said. “Take away steel, the building falls over.” Saylor believes Bitcoin offers a similar foundation for the economy, describing it as "clean, silent, programmable, immortal money." "If you want your company, family, or endowment to last forever, you need to capitalize it with an asset that doesn't degrade," Saylor said during the interview. In his view, traditional currencies degrade like fragile “economic clay or balsa wood,” while Bitcoin retains value over time. "The rate of the dollar is 7% a year for 100 years. When you lose 7% of your energy for 100 years, you lose 99.9% of whatever you are," Saylor noted. The Bitcoin evangelist sees the world’s largest cryptocurrency as “a profound step forward for the human race, because for the first time, economics crosses from being an art to being a science.” Saylor reflected on the role Bitcoin can play in building the future: “With 8 billion people with crypto steel or economic steel, we can build something much grander in the 21st century than all the 20th-century economists struggling with clay and cotton candy.” #michaelsaylor #BTC

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🔥 Will Altcoin Season Begin Soon? Analysis Company Gives Investors Upsetting Answer! While the leading cryptocurrency Bitcoin is approaching $70,000 in just days, altcoins are not performing as expected. However, it seems that altcoins will not be able to start the expected rally for a while. Cryptocurrency service provider Matrixport said that the altcoin rally season has been delayed due to Bitcoin's 58% dominance. In his post from his Matrixport X account, he stated that Bitcoin dominance remains strong at 58%, which shows that the altcoin season has not started yet and has been postponed a little further. Matrixport analysts said market and investor interest remains focused on Bitcoin despite the existence of over 20,000 cryptocurrencies. Analysts say that while there have been significant capital inflows into spot Bitcoin ETFs, the impact on altcoins has been minimal, suggesting that retail investors have yet to enter the market on a large scale. Since retail investors did not come to the market, the altcoin rally season did not start. As investors eagerly await the start of the altcoin season, Matrixport analysts noted that Bitcoin has the potential to increase its dominance even further as trading volumes have experienced significant growth. “Bitcoin’s dominance continues to grow and has reached 58%, indicating that the alt season has not yet started and may be delayed.Despite the launch of over 20,000 cryptocurrencies, the focus is firmly on Bitcoin.Trading volumes in Bitcoin are set to double from $10-20 billion to $20-40 billion in 2023, underscoring Bitcoin's growing influence.” Matrixport Today 📉 – Oct 22: #Bitcoin Dominance Surges to 58%, Signaling Altcoin Season Delay cryptomarket MarketTrends MarketInsights CryptoInvesting #Altcoins #BTC #ETF s — Matrixport Official English (the only official X) (@Matrixport_EN) October 22, 2024

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📊 Altcoin Market Slumps: Ethereum, Solana, and Sui Lead the Decline The altcoin market is down, with Ethereum (ETH) and Sui (SUI) leading the decline. Each of these tokens has run into resistance and support levels as bearish trends take over their charts. Ethereum and Sui are making significant price movements, with market volatility affecting the short-term prospects of these altcoins. While each token has distinct support and resistance levels, they are all moving downward, reflecting broader market trends. 🔸 Ethereum’s Price Drops, $2,625 Support Level in Focus Ethereum (#ETH ), the second-largest cryptocurrency by market capitalization, has seen a 3.26% decline in the past 24 hours, with the current price standing at $2,646.96. The price has been steadily falling since reaching a peak of $2,737, where selling pressure started to weigh on the market. This level now acts as a significant resistance, along with the $2,700 mark. Ethereum’s decline found a short-term support level near $2,625. Buyers stepped in as the price briefly dipped below this level, showing that this support might hold in the near term. However, if this support fails, the price could fall further, to the $2,600 mark. 🔸 Sui Struggles to Hold $2.00 Support Sui (#SUI ) has been hit particularly hard, experiencing a sharp 5.09% decline, with the current price at $2.02. Sui’s price has fallen consistently from a peak of $2.1268, with the $2.00 mark acting as a key psychological support level. Buyers have so far managed to defend this level, but if the price falls below $2.00, it could trigger further declines. On the upside, Sui faces immediate resistance at $2.05. This level has been tested multiple times without success, showing strong selling pressure. If it can break out above $2.05, the price could move towards $2.12, where the decline began.

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