Gemini received in-principle approval from Singapore’s MAS for a major payment institution license. The MPI license would enable Gemini to provide regulated cross-border transfers and digital payment services in Singapore. The cryptocurrency exchange Gemini, led by the Winklevoss Twins, has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its Major Payment Institution (MPI) license. According to Tuesday’s announcement via a blog post, the crypto exchange gained the green light under Singapore’s Payment Services Act 2019, which will allow the platform to provide secure and regulated cross-border money transfer and digital payment services. Additionally, Winklevoss Twins’s exchange can be able to offer digital payment solutions to Singapore’s 6 million residents via the current in-principle approval. By receiving this IPA, Gemini expanded its footprint in one of its largest markets outside of the U.S. Since establishing a regional hub in Singapore, Gemini has prioritized localizing its offerings to the unique needs of its customers in the region. Now, Singapore has become Gemini’s second-largest customer base in terms of demographics. Still, Gemini operates in over 70 countries globally, particularly in the Asia-Pacific region. Gemini’s Regulatory Hurdles Despite its international expansion, Gemini’s primary operations and headquarters remain in the United States, where it has encountered regulatory hurdles. Notably, the U.S. Securities and Exchange Commission (SEC) sued Gemini last year, alleging the exchange had offered unregistered securities. Further, earlier in October, announced the closure of all customer accounts in Canada by the end of 2024. The decision comes as the Canadian Securities Administrators (CSA) stricter regulations for crypto exchanges and trading firms’ operations in the country. These regulatory challenges have prompted the crypto exchange to explore opportunities in more welcoming jurisdictions, with Singapore standing out as a key market. Highlighted News Of The Day Can DOGE Drive the Next Memecoin Season?

Whitefish, Montana, October 29th, 2024, Chainwire ARQ Securities is pleased to announce it has received its Digital Alternative Trading System (ARQ Securities ATS) and is launching the platform on Liquidity.io [today October 29th, 2024]. Liquidity.io is a cutting-edge platform designed to revolutionize the trading and settlement of private credit and private stock for accredited and institutional investors. It took nearly three years of extensive software development while acquiring all necessary regulatory approvals to finally take the platform live. Additionally, the Liquidity Transfer Agency bridges transactions to public blockchains like Solana, Polygon, and soon Avalanche. ThinkEnergy Debuts as Liquidity.io’s Inaugural Issuance: A Milestone in Sustainable Energy Investments With its groundbreaking refining technology that reduces CO2 emissions by 50%, ThinkEnergy exemplifies our commitment to investments that offer financial returns while positively impacting the global energy landscape. This opportunity allows investors to join ThinkEnergy’s transformative mission toward a more sustainable and efficient energy sector. Focus on Private Credit and Private Stock Liquidity.io will initially concentrate on two key asset classes: private credit and private stock, offering institutional and accredited investors a streamlined and transparent way to trade these traditionally illiquid assets. The private credit market has seen significant growth, driven by investors seeking higher yields and diversification. However, the lack of standardized processes and limited transparency have been persistent challenges. Liquidity.io aims to address these issues by leveraging its digital platform to document and automate the trading and settlement processes, thereby reducing operational complexity and improving liquidity. Strategic Partnerships and Advanced Technology Over the past year, ARQ Securities has forged strategic partnerships with players in the private credit and private equity sectors, collecting over a billion dollars in Letters of Intent to list on the platform, including: Leading private credit originators with significant portfolios, who have committed to listing their assets on Liquidity.io. Multiple private companies seeking to provide liquidity options for their shareholders through the platform. Various banks, broker-dealers, and registered investment advisors (RIAs) are interested in utilizing Liquidity.io for the efficient execution of private asset transactions. Looking Forward With the digital ATS license secured and the launch of Liquidity.io imminent, ARQ Securities is poised to transform the trading landscape for private credit and private stock markets. We encourage interested parties to contact us to explore listing opportunities and to discuss assets available on our platform at launch. If you manage a private asset class with complex settlement processes, we invite you to partner with us to automate these procedures. Our company is enthusiastic about fostering partnerships and seeking new opportunities to offer issuers and investors more efficient and transparent access. For more information or to discuss partnership opportunities, interested parties can contact: Eric Choi, ARQ Securities: CEO, https://www.linkedin.com/in/eric-choi-10750241/ Austin Trombley, Satschel, Inc: CEO, https://www.linkedin.com/in/austintrombley/ For more information about ARQ Securities and Liquidity.io, visit www.liquidity.io. About ARQ Securities: ARQ Securities LLC., a subsidiary of Satschel, Inc., is at the forefront of financial technology, dedicated to reshaping the future of securities trading through innovation and efficiency. With a focus on digital asset tokenization and alternative trading systems, ARQ Securities is committed to empowering issuers, brokers, and investors with cutting-edge platforms and solutions. Contacts CEO Eric Choi ARQ Securities [email protected] CEO Austin Trombley Satschel, Inc. [email protected]

Crypto analyst Random Crypto Pal has predicted that the XRP price is finally ready for a breakout, just as on-chain metrics turn bullish. With a breakout on the horizon, the analyst also provided insights into price targets that XRP could hit as it moves to the upside. XRP Price Ready For A Breakout Random Crypto Pal predicted in X post that the XRP price was ready for a breakout while sharing a picture of the XRP monthly chart. He remarked that an “explosion is coming,” indicating that the price rally will be parabolic. The analyst made this claim while noting that XRP has recorded a perfect retest of both trend lines. The accompanying chart showed that the XRP price could rise to as high as its current ATH of $3.84 when it records this price breakout. XRP has consolidated for about seven years since 2018, when it reached its current ATH. Since then, the XRP community has eagerly anticipated a price breakout, which never came in the 2021 bull run. However, this time looks different, considering that XRP has finally gained legal clarity and a non-security status in the long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC). Meanwhile, on-chain metrics have turned bullish and support an XRP price breakout. The active addresses on the XRP Ledger (XRPL) have hit a six-month high, indicating renewed interest in the coin among crypto investors. New investors are also flocking into the XRP ecosystem, as new addresses on the network have surged by over 10%. Daily transactions on the network are also on the rise, which shows that investors are actively trading using XRP. Therefore, these bullish on-chain metrics could also contribute to the XRP rally, which Random Crypto Pal predicts is on the horizon. Price Could Reach Triple Digits Crypto analyst Javon Marks has again reaffirmed that the XRP price could reach triple digits when this price breakout finally occurs. In an X post, the analyst alluded to the historical price gains that XRP recorded in the 2017 bull run to prove why the coin could reach $200. His accompanying chart showed that the XRP price could enjoy a price breakout by year-end and a massive rally that will last until year-end 2025, around when the crypto will hit $200. Interestingly, crypto analyst Dark Defender also echoed a similar sentiment when he revealed in an X post that the XRP bull run will last from November 2024 to November 2025. Meanwhile, Javon Marks noted the similarities between the current XRP price action and that of 2017 are “major.” He remarked that this time around is larger, which means that the result of the price breakout could be greater than the one witnessed in the 2017 bull run.

Bitcoin price is now above $70,000 per coin. The recent rally back toward local all-time highs has carried BTCUSD high enough to causes two important moving averages to form a “Golden Cross.” This signal has appeared twice since the bear market bottom and yielded significant results. Let’s take a look at the data and the most recent signal now that it has confirmed. Bitcoin Daily Golden Cross: 50-Day And 200-Day Moving Averages As pictured above, BTCUSD has triggered a daily golden cross of the 50-day and 200-day moving averages. In technical analysis, a golden cross happens when a short-term moving average crosses above a long-term moving average. This typically suggests that there is an actively trending environment and price is expected to appreciate. The opposite, bearish signal is referred to as a death cross. The chart above also depicts a death cross in August 2024. However, its appearance didn’t lead to a prolonged downtrend. Could this also mean that this latest golden cross might not produce a sustainable uptrend? BTCUSD Golden Cross And Death Cross Recent History Zooming out provides a more clear picture of the signal’s effectiveness since the bear market bottom in November 2022. BTCUSD rising from bear market lows around $16,000 to $23,000 was enough to pull the 50-day moving average above the 200-day average, triggering the first golden cross of 2023. This kept Bitcoin trending higher until it reached roughly $32,000, then fell to retest lows around $25,000. The bearish short-term price action then triggered a death cross. Here, much like we saw in 2024, Bitcoin trended sideways and avoided a downtrend. It didn’t take much upside to force another golden cross. From that golden cross, BTCUSD rallied another 100%, doubling in price. The chart above shows that the golden cross in October 2024 occurred just months after the death cross, just like it did in late 2024. Could that mean another 100% rally from current levels? If so, Bitcoin price could reach as high as $140,000 before beginning to show weakness. Buy And Hold: Using Moving Average Crosses As A Trading System Using the 50-day and 200-day moving averages as a buy and hold trading system starting from 2018 would have yielded significant results. The first golden cross fired in April 2019 at around $5,000 per BTC. A death cross in October 2019 closed out the trade and sold some coins. A quick golden cross and death cross combo in early 2020 led to a small loss. May 2020’s golden cross more than made up for it, triggering when Bitcoin was trading just below $10,000. The trade stayed open while Bitcoin blasted off into its most bullish trend in recent years and eventually closed with the next death cross in Jun 2021 at around $35,000 per BTC. This kept $25,000 in profit from the trade, combined with the initial $4,000 profit from the early 2019 trade to make $29,000. The small loss takes the total closer to $28,500. In September 2021, BTCUSD golden crossed again at around $45,000, only to shortly later death cross at $3,000 lower. This death cross stayed active until Bitcoin shed another $30,000. Fortunately, using the two moving averages as a buy and hold trading system meant the death cross moved you to cash – avoiding the worst of the bear market. Come early 2023, Bitcoin was ready to begin a new uptrend and the golden cross triggered at $23,000. A death cross formed at $27,000, keeping another $6,000 worth of profits. Another golden cross in October 2023 triggered at $35,000, riding all the way to $62,000 when the most recent death cross closed out the trade. In six trades total, the 50/200MA trading system would have earned approximately $58,500 as Bitcoin traveled from around $5,000 to $74,000. Four out of the six trades were profitable and the two losses were relatively minor when compared to the profits generated. Tony Severino, CMT is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Price action in Ethereum has attracted the attention of investors and analysts alike, as it trades near a critical support level at $2,600. Analyst Ali Martinez has pinpointed this region as the critical threshold that Ethereum will cross before it makes its next significant move. If this support is sustained, according to Martinez, it shall serve as the catalyst in staging a rally to usher the cryptocurrency to the ambitious target of $6,000. However, things do not seem that smooth ahead as already some market observers and participants have opined that the existing support could break under pressure. Ethereum has begun forming a rising channel from July 2023. An ascending channel is a technical pattern in which two parallel trend lines represent the support and resistance level. Recently, the price of Ethereum stayed near the lower edge of this corridor. Martinez believes that Ethereum will rally from here, so everyone’s holding on tight. Important Support And Resistance Zones The ascending channel pattern does not occur by accident. It indicates the probable paths of Ethereum. The trend line acts as a resistance level in the channel, while the trend line at the bottom actually acts as a support level for the price to bounce. The move of Ethereum past $2,600 is also an important retest point that will act as a pivot for its new price target. Martinez believes this is a good risk-reward opportunity for the investor and recommends placing stops at around $2,00 to $2,150. The idea behind these stop-losses is to limit the potential losses, but they also open up upside in case Ethereum moves higher towards the upper trendline. This observation appears somewhat vague, as some analysts are expressing concerns about a potential breakdown at the $2,500 range. However, Martinez has not provided much insight into how this situation could still create favorable conditions for a rally to occur. Indicators Look Positive: On-Chain Data On-chain data shows 70% of Ethereum holders are profitable. Therefore, this positive attitude would be further supported in terms of the level of profitability that reduces the chances of big sellers. When there aren’t strong motives for selling, then an upward movement for Ethereum could easily be expected. Robust Long-Term Projections Meanwhile, the future estimates for Ethereum have room for growth. The current market predictions reveal that Ethereum is trading about 6.5% lower than the predicted target for next month, which also means the asset is underpriced. More positive projections for the long term range from 173% possible returns in a year, according to figures by CoinCheckup. Such growth could probably give a push to Ethereum’s upward movement and form a firmer support base that may encourage price levels to stay high and stabilized. Featured image from StormGain, chart from TradingView

New York, United States of America, October 29th, 2024, Chainwire Student Coin, an educational crypto project established in 2019, has initiated a structured token redemption process following the decision to wind down its primary operations. This move aims to protect the interests of STC token holders as the team transitions its focus towards new ventures. Originally launched by undergraduates from Kozminski University in Warsaw, Poland, Student Coin began as a student-focused initiative designed to explore blockchain applications in academia. The project quickly expanded, reaching over 15,000 students at more than 500 universities by the end of 2020. Throughout its development, Student Coin introduced various products, including the STC Wallet, STC Terminal, STC Academy, and Coinpaper, which supported blockchain education and fostered community engagement. Following the success of its 2021 STC Launchpad, the project experienced continued growth, culminating in a user base of over 200,000. However, as the crypto market evolved, the team faced challenges ranging from legal obstacles and university resistance to the collapse of major exchanges, all of which impacted its operational outlook. Challenges and Strategic Reassessment Despite significant milestones, Student Coin encountered mounting difficulties in achieving its goals. Efforts to scale the STC Wallet as a multi-functional exchange faced legal risks and the collapse of exchanges like FTX forced a rethink. Attempts to expand the STC Terminal were met with resistance from institutions wary of token-based applications. By 2023, it became evident that scaling $STC to meet its desired utility and market value was increasingly difficult. After careful consideration, the Student Coin team opted to phase out products such as the STC Terminal, STC Academy, and other initiatives. This decision reflects the company’s intention to act responsibly by redeeming $STC tokens instead of continuing with limited prospects for growth. The decision was made to distribute all remaining project funds between token holders, ensuring that through winding down the token, everyone receives fair compensation based on their individual situation. The established redemption prices range between $0.006 and $0.0137 per STC Token and are tailored to individual user profiles. Factors such as purchase price, purchase date, token holdings, and participation in programs like the Premium Program influence the final redemption value. This tiered system rewards those who have been with the project from the start and actively engaged with the Student Coin ecosystem. Image: STC token’s historical price index along with the major events affecting its fluctuations. STC Token Redemption Process Student Coin’s token redemption program began on April 9, 2024, with an initial window for STC Wallet users that closed on June 9. An additional deadline for redeeming tokens via redemption request on October 9, 2024, marks the closure of the STC Wallet, while on-chain token holders have time until April 9, 2029, to redeem their tokens. This extended timeline accommodates the shutdown of on-chain support and ensures ample opportunity for token holders to complete the redemption process. On-chain holders can transfer tokens to a designated burn address. Users should expect a processing time of up to three months to receive the USDC back to the address. Keep in mind that USDC can only be sent to the address that burned $STC. Users cannot receive USDC at any other address. Furthermore, it is extremely important to remember that users cannot send $STC to the burn address directly from an exchange, as they would lose all of their funds. Read the detailed on-chain burn procedure. About Student Coin Founded in 2019 by a group of university students in Warsaw, Poland, Student Coin sought to harness blockchain technology for educational and community-building purposes. Initially targeting students and academia, the project grew to encompass a global community of over 200,000 users and introduced products such as the STC Wallet, STC Terminal, STC Academy, and Coinpaper. Focused on accessible blockchain education and tokenized solutions, Student Coin rapidly expanded to more than 500 universities worldwide. As the project winds down, the team remains committed to supporting the community through a comprehensive token redemption program and plans to pursue new initiatives in the crypto media sector. For more information, please visit StudentCoin.org. Contact Coinpaper [email protected]

DOGE surges 14%, reaching four-month high amid Bitcoin’s rise. Other memecoins like SHIB and PEPE also experience significant gains. In the latest market shift, Dogecoin (DOGE) has surged by 14% over the past 24 hours, reaching a four-month high of $0.1684, as its trading volume skyrocketed 119%. This rally comes amid Bitcoin’s surge past the $71,000 mark, which has contributed to renewed interest in the memecoin sector, with DOGE emerging as a leading player. Dogecoin’s impressive performance isn’t isolated, as other notable memecoins are riding the same wave. Shiba Inu (SHIB) saw a 9% increase, and PEPE gained 8%, while other tokens like Wall Street Inu Finance (WIF) and POPCAT climbed by 9% and 11%, respectively. FLOKI, yet another popular dog-themed token, also gained by 9%. The memecoin rally appears to align with broader trends in the crypto market, where investors are gravitating towards risk-on assets as major cryptocurrencies experience substantial growth. Historically, memecoins like DOGE have enjoyed popularity during bull markets, often attracting high-volume trading and retail investor interest. Memecoin Rally Chart, Source: CMC Resurgence On Stay? The resurgence of interest in Dogecoin has, in particular, been linked to community-driven support. And periodic boosts from prominent figures like Elon Musk, who has openly endorsed the token. However, the current rally raises questions about the sustainability of these gains. While trading volumes indicate strong short-term momentum, the inherently volatile nature of memecoins warrants caution for investors. Analysts suggest that as long as Bitcoin and Ethereum continue their upward trends, DOGE and its counterparts may see further gains. Yet, market corrections are common in the meme sector, making risk management essential for those joining the rally. Highlighted News Of The Day Will SHIB Recent Price Action Lead to Sustained Gains?

Bhutan sold 929 BTC to Binance for $66 million as Bitcoin surpassed $71,000. Analysts predict Bitcoin may reach $80,000 by November, driven by market trends. The Royal Government of Bhutan recently transferred 929 BTC, valued at $66 million, to Binance. This move follows Bitcoin’s price surge above $71,000, marking Bhutan’s first significant transfer since selling $24 million in BTC via Kraken in July. The on-chain analytics platform Arkham reported this sale. The government’s strategic sale occurred during a market rally fueled by technical strength, the U.S. election, and rising interest from traders. Managed by Druk Holding & Investments, Bhutan’s crypto holdings position the nation among the world’s largest government Bitcoin holders. Bhutan’s wallet retains 12,456 BTC, valued at $886 million, following this sale. Eco-Friendly Mining Fuels Bhutan’s Bitcoin Strategy Unlike many other countries that acquire Bitcoin through asset seizures, Bhutan has steadily grown its Bitcoin reserves through eco-friendly mining, powered by the country’s abundant hydroelectric resources. Alongside Bitcoin, the government holds smaller amounts of Ethereum. Bitcoin remains Bhutan’s primary holding, built over years through hydro-powered eco-friendly mining. Analysts believe Bhutan’s decision to sell aligns with the recent Bitcoin price milestone of $71,000. According to trading experts, Bitcoin’s bullish pattern indicates that the cryptocurrency may reach $80,000 by November. Significant levels like $70,000 often see profit-taking, especially among large holders, known as whales, who influence price movements. With a trading volume increase of 110% in the past 24 hours, Bitcoin currently trades at $71,494, highlighting market enthusiasm. Highlighted Crypto News Today Will SHIB Recent Price Action Lead to Sustained Gains?

Kraków, Poland, October 29th, 2024, Chainwire Brasil Brasil Brasil Contact Konrad Seweryn [email protected] test

SHIB burn rate and Shibarium upgrades boost long-term growth potential. Increasing SHIB transaction activity signals rising engagement. Shiba Inu (SHIB) has been experiencing a surge as Bitcoin hit a three-month high, pushing past the $71,000 mark. It jumped 11% in the past 24 hours, with trading volume up 199%. Despite this recent spike, SHIB has seen a 5% drop over the past month, underscoring the volatile landscape of the meme coin market. This bull rally also coincides with the announcement of a significant upgrade to Shiboshis, the Ethereum-based NFTs within the Shiba Inu ecosystem. Shiba Inu’s marketing lead, Lucie, recently shared details about the upgrade on X, describing it as a strategic enhancement for Shibarium, SHIB’s layer-2 blockchain. The update promises new features for Shiboshis, including increased utility, exclusive events, rewards, and a streamlined approach aimed at embedding NFTs as a core component of SHIB’s ecosystem. Adding to the bullish outlook is Shibarium’s robust growth. Since its launch, the ecosystem has registered 430 million transactions and amassed over 2 million wallet users. Meanwhile, the SHIB burn rate has skyrocketed by 65,530%, potentially decreasing the coin’s circulating supply and contributing to a long-term value boost. Why SHIB Traders Are Optimistic? Market indicators also reflect optimism. The daily active addresses for SHIB rose 0.89% in the last 24 hours, signaling continued engagement from the SHIB community. Meanwhile, The nine-day exponential average (EMA) is at $0.0001873 and the daily RSI (Relative Strength Index) is at 55, indicating that it is in a neutral position. The long/short ratio is tilted towards bullishness, with 57.52% of traders holding long positions, indicating that most investors are optimistic about its potential price rise. With Shibarium’s ecosystem advancements and a strong burn rate, it appears positioned for potential future gains. However, greater activity within the Shibarium network may be essential to fully capitalize on this momentum.

Dogecoin (DOGE) has surged over 19% in the past 24 hours, reaching an intraday high of $0.1684. Elon Musk’s recent social media post might have contributed to increased interest in Dogecoin. The crypto market kicked off an exciting “uptober” rally at the end of the month, with Bitcoin (BTC) inching closer to the $71.5K zone, its highest level since June. This bullish trend spilled over to major cryptocurrencies, including memecoins such as Dogecoin (DOGE). In the past 24 hours, DOGE has surged by over 19% and recorded an intraday high of $0.1684. This surge is largely triggered by rising interest in Dogecoin futures, which are approaching levels not seen since April ignited by tech mogul Elon Musk’s latest post on X (formerly Twitter). Musk’s involvement has not gone unnoticed. Following his appearance at the Trump rally, he tweeted a humorous meme featuring himself alongside the DOGE avatar, further fueling the excitement around the token. Many traders are interpreting this price surge as a reflection of “Trump’s growing popularity,” adding to the hype. Dogecoin posted a 19% gain in a single day, as traders took notice after it was mentioned during a Donald Trump campaign event, despite its prolonged sluggish altcoin market. Since then, the open interest for Dogecoin has climbed over 36% in just the last day, reaching $1.32 billion. The connection between DOGE and Trump has been further solidified by Musk’s recent proposal for a “Department of Government Efficiency,” cleverly abbreviated to D.O.G.E., aimed at reducing U.S. government spending. Dogecoin Shows Bullish Sentiment Since hitting monthly lows around $0.106 on Oct 11, Dogecoin has seen an increase in volatility and trading volume, suggesting a bullish sentiment among market participants. Currently, DOGE is trading at $0.1656, with a daily trading volume exceeding $3.78 billion—an increase of more than 140%. Technical indicators also support this bullish outlook. According to TheNewsCrypto’s Dogecoin price prediction, the meme coin has formed a “rounding bottom pattern,” hinting at a potential long-term price reversal. This shift in sentiment suggests that the market is moving from bearish to bullish. Further, the MACD indicates strong bullish momentum, with a value of 0.00669 above its signal line at 0.0036. Additionally, the Bollinger Bands reveal that DOGE is trading above the upper band, signaling robust upward momentum that might lead to overbought conditions. If Dogecoin maintains its upward trajectory, it could soon test the key resistance level at $0.1756, where it has previously encountered selling pressure. Then $0.198 may emerge as the next significant resistance point. However, Dogecoin is now in an overbought zone, a price correction may occur as traders take profits. In such a scenario, the historical support level of $0.144 could come into play, providing a safety net for buyers. Another potential support level is $0.0786, which may serve as support for future corrections.

Cardano’s price climbed by 2.42%, climbing up to $0.3461. The historical pattern suggests ADA might rally around mid-November. Despite the negative turns over the past few days, the broader crypto market has experienced a strong bullish recovery in the past few hours. Bitcoin has pushed certain altcoins up along with its $71K breakout. However, the price of Cardano (ADA) exhibits a notable 2.42% spike over the day. Analysts are expecting significant returns for ADA in the upcoming bull rally and it has created curiosity among traders. Notably, Ali charts have noticed Cardano’s current market movements resembling its historical patterns during the 2020 cycle. There’s anticipation hovering that ADA might replicate the prior pattern, suggesting it could reach a new peak. In addition, the historical analysis hints that ADA might rally around mid-November, in the aftermath of the U.S. presidential election. Further eyeing to reach a market top in September 2025. However, the current market momentum might trigger Cardano to exhibit upward movement. Over the past 24 hours, the asset has recorded its highest trading level at $0.35. At press time, Cardano traded at $0.3461, with its daily trading volume soaring by over 53.75%, as per CMC data. Over the past week, Cardano lost over 4.20%, slipping from $0.3674 to a low of $0.3208. However, the bearish outlook diminished, as November is around the corner. Can ADA Expect a Bullish Turn? Looking ahead at the four-hour technical chart of ADA, the current market is in the neutral sentiment, as the daily relative strength index (RSI) stays at the 57 mark. Moreover, the asset’s daily frame exhibits the short-term 9-day MA above the long-term 21-day MA. Besides, the Moving Average Convergence Divergence (MACD) indicator is marked above the signal line, suggesting a bullish sentiment and an incoming bull run can be expected. ADA chart (Source: TradingView) The Chaikin Money Flow (CMF) indicator is found at 0.11, indicating the increased money flow with an optimistic outlook. Consequently, the daily trading volume of ADA has reached $298 million. The four-hour price chart of ADA shows the upside momentum, breaking the $0.3400 level. If the uptrend persists, the asset could test and rally toward the resistance level at $0.3572. Moreover, ADA can further push the price to set new highs. On the flip side, if the current price momentum reverses in the upcoming days, the price could retrace down to $0.3364 or even lower if the price fails to hold the ground. Highlighted Crypto News Ethereum (ETH) Rally Intensifies as Bulls Set Sights on $3K

PrimeXBT: What does the rest of the trading year have in store for Cryptocurrency? By Matthew Hayward, Senior Market Analyst at PrimeXBT Traditionally, the fourth quarter and October have been strong months for cryptocurrencies, particularly Bitcoin. However, this year, the gains have been less impressive than in previous years. Currently, Bitcoin has increased by over 5% this month, providing a glimmer of optimism. So, what has caused this underwhelming performance, and why haven’t we seen the expected rally? Reflecting on early October, a series of announcements and shifts in the economic landscape contributed to Bitcoin’s initial decline, setting a challenging tone for the month. Analysing the infographic below shows that, during a “bull market,” the fourth quarter has historically been a period of significant growth for Bitcoin. With just two months left in the quarter, will Bitcoin maintain its upward momentum? Source: Crypto Rover Current price movements influenced by political uncertainty Several key events demand attention from both political and economic perspectives. On the political front, the upcoming U.S. elections are in focus, with recent polls indicating a surge in Trump’s popularity. While the final results remain uncertain until election day, past trends show that Trump’s campaigns have often driven positive momentum in both traditional and cryptocurrency markets. He has also voiced support for advancing cryptocurrency adoption if re-elected, sparking questions about whether this could drive broader acceptance in the sector. Looking more closely at the infographic below, we can see that the timing of Bitcoin cycles alongside U.S. election cycles has generally resulted in a net positive impact on Bitcoin’s price following elections. Source: Crypto Rover Ongoing uncertainty in the macroeconomic landscape In September, the Federal Reserve made a significant move by reducing interest rates by 0.5%, marking a substantial shift after an extended period of stability. This bold rate cut takes us back to the last major interest rate cut, where the FED also cut interest rates by 0.5%, which took place right before the stock market crash that triggered the 2008 financial crisis. Source: Reuters Following the announcement of the interest rate decision, Non-Farm Payroll data came in significantly higher than expected, contrasting with previous reports. The Federal Reserve had previously emphasised its intent to support the labour market, and as the elections approach, it appears to be succeeding. However, the question remains: how substantial will next year’s revisions be if these results are indeed inflated? Could inflation continue to rise in the future? In the light of the Federal Reserve’s 0.5% interest rate reduction and unexpectedly strong job reports, attention has turned to inflation concerns. The Fed reiterates lowering inflation to its 2% target; however, traders are now concerned about the potential risk of inflation increasing following the rate cut. Recent CPI figures showed a slight uptick, landing at 2.4%, just below the previous month’s rate of 2.5%. Should inflation continue to rise while U.S. GDP data remains stagnant or decreases, the economy could face the threat of “stagflation.” Source: Reuters Could an economic downturn be looming ahead? Historically, Bitcoin and the broader cryptocurrency market have yet to face a prolonged period of major economic uncertainty. Since Bitcoin’s launch in the late 2000s, it has existed solely in the post-2008 financial crisis environment. This brings up an important question: how might the risk of a potential “Black Swan” event impact its price trends and disrupt established cycle theories? Source: Seekingalpha What impact do these developments have on cryptocurrencies and the broader markets? As cryptocurrency adoption increases and more institutional investors enter the market, traditional indicators are likely to have a greater influence on trading strategies for risk assets like cryptocurrencies. The two charts below illustrate how the markets are anticipating these data releases and their impact on Bitcoin’s price movements. Notably, prior to the interest rate cut, the price of Bitcoin began to rise sharply. This is because, in an environment of interest rate cuts, risk assets like cryptocurrencies typically perform better. The charts demonstrate how this positive sentiment was already reflected in the pricing, leading to an upward movement following the announcement. In the second scenario, we can see that the latest CPI data release was not favourable for the pricing of risk assets, as uncertainty grew regarding the possibility of rising inflation. If inflation were to start increasing, the chart below illustrates how the market was already pricing in a negative reaction to that data release. How to Trade Key Economic and Political Events with PrimeXBT As economic uncertainties increase, new trading opportunities may emerge. PrimeXBT stands out as a premier cryptocurrency and CFD broker, offering a robust trading platform for buying, selling, and storing cryptocurrencies. The platform grants access to more than 100 popular markets, including Crypto Futures, Copy Trading, and CFDs across Cryptocurrencies, Forex, Indices, and Commodities. Users can trade with both fiat and cryptocurrency funds, making it a flexible option for adapting to the changing macroeconomic environment. PrimeXBT enables trading by lowering barriers to entry and providing secure, user-friendly access to financial markets. The platform provides top-tier trading conditions and innovative tools, making it easier for both novice and seasoned traders to explore a diverse array of investment opportunities. Trade key events with PrimeXBT Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. Virtual assets are inherently volatile and subject to significant value fluctuations, which could result in substantial gains or losses. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. 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Hong Kong’s leading digital bank ZA bank has begun offering pilot services for virtual asset trading. The region has been focusing on crypto -related regulations over the past months. Web3 space is an ever-evolving landscape with new initiatives surfacing every other day. Recently, Vitalik Buterin has been discussing the Ethereum ecosystem’s advancements and upcoming upgrades. Meanwhile, the cryptocurrency realm has also shown bullish signs in the past day. In Hong Kong, the nation’s first digital bank ZA Bank has announced that it would begin the pilot version of its virtual asset trading services. The Hong Kong bank’s official announcement stated that this initiative aims to enable more reliable and convenient ways of banking in a ‘strictly regulated banking environment’. Additionally, upon successful completion of the pilot, ZA Bank plans to officially roll out virtual asset trading services in its very own app. The bank has identified through a survey that 75% of Hong Kong retail investors were interested in trading cryptocurrencies. Moreover, the bank’s CEO also applauded the initiative. CEO Ronald Lu stated in the official statement: Ronald Lu also discussed the Hong Kong government’s positive regulatory announcements in the past FinTech week. He said a supportive regulatory landscape could help foster more innovation within the state. Is Hong Kong Aiming to Lead Within the Crypto Realm? Hong Kong has been spotlighting cryptocurrency intensely over the past few months. The region has majorly focused on regulations apart from initiating several CBDC pilot projects and other virtual asset-related projects. Relatedly, another bank, Mox recently began offering Bitcoin and Ether ETFs trading in August. Furthermore, the Hong Kong government has made several announcements on regulations in the past months. Related to the ZA Bank announcement, the Singapore-based DBS Bank has integrated blockchain technology into its banking systems and operational procedures. Zooming out, on the global level there can be observed an increase in banking systems turning towards digital assets. Several banks have begun adopting digital asset services indicating the notion of cryptocurrency becoming mainstream. Highlighted Crypto News Today: Toncoin (TON) Exudes Bearish Vibes But Some Signs Disagree?

Bitcoin (BTC) has recently shown renewed strength in its market stance, with positive signals emerging from key market indicators. This emerging positivity in BTC’s market indicators comes on the heels of the asset seeing a gradual recovery in price over the past weeks. Earlier today, BTC again came closer to the $70,000 mark with a 24 hour high of $69,217. However, the asset has since retraced with a current trading price of $68,644, up 1.6% in the past 24 hours. Bitcoin Hash Ribbons Flash Buy Signal According to an analysis by CryptoQuant analyst Darkfost, the “Hash Ribbons” indicator has flashed a buy signal, historically aligning with strong long-term performance for BTC. This signal follows an earlier occurrence during the summer, indicating strong prospects for Bitcoin’s growth. The Hash Ribbons indicator tracks shifts in Bitcoin’s hash rate, an important metric that reflects the overall health of the mining ecosystem. As Darkfost explains, this indicator has consistently proven accurate in predicting Bitcoin price rallies, with only one notable exception during the COVID-19 pandemic, creating a unique market disruption. By analyzing Hash Ribbons chart, Darkfost noted: “This suggests that another BTC rally could potentially occur over the middle-term.” Miners’ Position Signals Market Optimism Adding to the bullish outlook, another analyst, Avocado onchain, has pointed out a notable trend in miners’ behavior, which may also contribute to an optimistic price outlook for BTC. Miners play a critical role in Bitcoin’s cyclical market patterns, often influencing price volatility with their buying and selling actions. According to Avocado, miners tend to hold onto their Bitcoin rather than sell during periods of price stagnation, which can create favorable conditions for a price surge when demand picks up. The Miner Position Index (MPI) shows that miners still hold onto their Bitcoin with minimal movement toward exchanges, indicating limited selling pressure from these influential market participants. Historically, a rebound in the MPI has been associated with Bitcoin price increases, suggesting miners are holding onto assets in anticipation of higher prices. Additionally, the block rewards per block—a measure of transaction activity on the network—are increasing, signaling greater activity on the Bitcoin blockchain, which often correlates with price appreciation. Featured image created with DALL-E, Chart from TradingView

Toncoin (TON) observed a decline of 13.25% over the past 30 days. The altcoin hit a 7-week low of $4.517 this October. Asian morning hours opened on a bullish note with Bitcoin (BTC) marking its entry into the $71K zone. Consequently, brief spikes of altcoins, mostly all members, have been triggered in the last 24 hours. The recent buzzing alt Toncoin, the native token of TON (The Open Network) blockchain, seats amid the tokens that witnessed the lowest gains. Over the past 24 hours, TON noted a minimal spike of 0.88% and resumed its trajectory within the $5 range. Will this Telegram-associated altcoin exhibit an upside or fail by exuding mixed signals? This article will help you analyze it. (Beginner’s Level!) Can This Indicate A Bullish Reversal in Toncoin (TON)? Toncoin (TON) recorded its 7-week-low at $4.517 on October 25. On Saturday, it picked bullish cues to surpass $5. At press time, TON traded at $5.026 with a market cap of $12.78 billion. TON 4H Price Chart The 4-hour price chart of Toncoin (above chart) highlights the movement of the Relative Strength Index (RSI) in the neutral zone (50). Moreover, the daily trading volume surged 23.64% in the past 24 hours to $161.52 million. Conversely, the Chaikin Money Flow (CMF) indicator reflected an upward movement, highlighting the increased capital inflow into Toncoin (TON). This also signifies the rise in buying pressure. Hence, there may be a possibility for TON to exhibit a crucial price correction and move higher. Is TON Taking Up the Bearish Route? A descending triangle pattern is seen when analyzing Toncoin’s (TON’s) trajectory since the start of 2024. This pattern indicated a bearish sentiment. However, the CMF’s indication of a rise in capital inflow points at mixed signals. This contrast in technical analysis could indicate a potential turning point in the form of a trend reversal. Increased buying interest or accumulation may mitigate or reduce the intensity of the downward pressure. If a bullish breakout at $5.250 is observed, Toncoin (TON) might move upward and test resistance levels such as $5.449, $6.079, $6.876, and $7.715. Conversely, under a continued bearish TON will be at the mercy of support levels such as $4.505, $3.540, and $2.208. DISCLAIMER: The opinions expressed in this article are those of the author and do not constitute investment or financial advice. TheNewsCrypto team strongly advises all readers to conduct their own research before investing.

Las Vegas, United States, October 29th, 2024, Chainwire Solana storage scaling solution Xandeum has confirmed details of its forthcoming token launch and storage-enabled liquid staking program. On October 29, 16:00 UTC, the XAND token will officially launch, offering the Xandeum community a way to participate in the network and earn rewards. The XAND token and LST launch will be accompanied by the first Xandeum airdrop that will see 60M tokens issued to eligible users on October 29. A number of centralized and decentralized exchanges have committed to supporting the XAND token launch including Raydium and MEXC. The Xandeum DAO is the vehicle that powers both the Xandeum scalable storage layer that is currently being built, as well as the storage-enabled liquid staking solution launching October 29. The DAO captures both of these, which is a unique feature among such platforms. The XAND token offers complete governance over that DAO, which makes XAND one of the most utility-rich tokens on Solana. XAND rewards for early stakers of SOL into the storage-enabled liquid staking platform at https://stake.xandeum.network will get 10x boosted XAND rewards which will result in ludicrous amounts of XAND rewards during the hyperdrive stage, defined as the stage when the pool has less than 30,000 SOL staked. The LST also carries another major innovation: It is the first multi-validator LST on Solana that programmatically shares block rewards. Xandeum’s forthcoming storage solution will allow Solana programs to scale through enabling dapps to access exabytes of data. This will support new use cases, like porting data-rich web2 apps to fully decentralized web3 versions. Xandeum solves the blockchain storage trilemma, being scalable, random access, and smart contract native at the same time. In order to demonstrate these capabilities, a dapp named Xandipedia is being worked on – a fully decentralized version of Wikipedia. Xandeum’s smart contract native scalable storage layer has been designed to integrate directly into Solana RPC nodes. Data storage is offloaded to a network of decentralized pNodes (storage provider nodes) overseen by Xandeum-aware Solana validator nodes. This will enable Solana dapps to access virtually unlimited storage that can be queried rapidly while maintaining a high degree of decentralization. About Xandeum Xandeum is a storage scaling solution for Solana and the world’s first storage-enabled liquid staking platform. Powered by the XAND token, Xandeum is on track to launch its storage provider network in early 2025, delivering a breakthrough in decentralized Solana storage that will power a new wave of dapps. Learn more: https://www.xandeum.network Contact Founder Bernie Blume Xandeum Labs [email protected]

On October 29, 60M tokens will be distributed to qualified users as part of the inaugural Xandeum airdrop. Dapps will be able to access exabytes of data thanks to Xandeum’s upcoming storage solution. The specifics of Solana storage scaling solution Xandeum‘s upcoming token launch and storage-enabled liquid staking scheme have been revealed. The XAND token will formally debut on October 29 at 16:00 UTC, providing the Xandeum community with a means of engaging with the network and earning rewards. On October 29, 60M tokens will be distributed to qualified users as part of the inaugural Xandeum airdrop, which will coincide with the debut of the XAND token and LST. Raydium and MEXC are among the centralized and decentralized exchanges that have pledged to support the launch of the XAND token. The storage-enabled liquid staking solution that launches on October 29 and the Xandeum scalable storage layer that is now being built are both powered by the Xandeum DAO. Among these platforms, the DAO is unique in that it captures both of them. The XAND token is one of the most useful ones on Solana as it provides total governance over that DAO. The storage-enabled liquid staking platform at https://stake.xandeum.network offers 10x boosted XAND rewards to early SOL stakers. This will result in absurdly high XAND rewards during the hyperdrive stage, which is when the pool has less than 30,000 SOL staked. Another significant novelty of the LST is that it is the first multi-validator LST on Solana to share block rewards programmatically. Dapps will be able to access exabytes of data thanks to Xandeum’s upcoming storage solution, which will enable Solana applications to grow. New use cases, such as transferring data-rich web2 applications to completely decentralized web3 versions, will be supported by this. With its simultaneous scalability, random access, and native smart contract functionality, Xandeum resolves the blockchain storage conundrum. A completely decentralized version of Wikipedia, called Xandipedia, is being developed as a dapp to showcase these possibilities. The scalable storage layer of Xandeum’s smart contract native has been engineered to seamlessly connect with Solana RPC nodes. Offloading data to a network of decentralized pNodes (storage provider nodes) is done under the supervision of Xandeum-aware Solana validator nodes. As a result, Solana dapps will have access to almost infinite storage that can be quickly queried while retaining a high level of decentralization.

Despite Neiro (NEIRO)’s recent price drop, analysts and investors seem bullish on the memecoin. Some market watchers noted the cryptocurrency’s potential, suggesting the levels to watch ahead of the next bullish rally. Neiro Sees 10% Weekly Correction Neiro made the headlines three months ago after becoming an overnight sensation on the Ethereum Network. The memecoin was inspired by the newly adopted sister of Dogecoin’s inspiration, Kabosu. The cryptocurrency has registered a remarkable performance during October, jumping 30% month-to-date (MTD). Moreover, the token saw an impressive rally towards its all-time high (ATH) price of $0.0022 two weeks ago, surging 4,600% in 30 days. The memecoin’s bullish momentum also propelled its market capitalization (MC) near the $1 billion mark, reaching a $935 million MC on October 15, which fueled a bullish sentiment among market watchers. However, Neiro’s price has declined since its most recent rally, trading 31.5% below its ATH. The Shiba Inu-themed memecoin registers a 10.3% drop in the past week, hovering between the $0.00132-$0.00170 price range. Despite the price drop, analysts and investors remain positive above the cryptocurrency. Crypto Tony noted that the memecoin is another token that looks “really good” since the beginning of its bullish momentum in mid-September. The analyst pointed out Neiro’s potential, suggesting that a small pullback from its recent levels could be a good entry point for investors ahead of an upcoming rally. Is $0.0020 Or $0.0010 Next? Since its all-time high, the cryptocurrency’s chart has displayed a downtrend, forming a broadening wedge pattern in the lower time frame, according to trader CryptoBull360. The market watcher noted that a successful breakout above the upper trendline could trigger a 25%-30% bullish rally for the token. Another trader suggested Neiro’s “situation on the chart is messy.” The trader stated that the token needed to break above the $0.00165 mark to continue its bullish trajectory and recover its ATH levels. However, if Neiro is rejected instead, the token could see a 30% correction toward the $0.0010 support zone. The $0.00165-$0.00170 price range represented an important consolidation zone ahead of the token’s surge toward its ATH. On Monday morning, Neiro’s price jumped 13.3% toward the $0.00170 resistance level. The token moved above the pattern’s upper trendline, signaling a breakout from its biweekly downtrend. Nonetheless, the token couldn’t hold above the key resistance level and pulled back toward the $0.00154 support zone. Crypto analyst Sjuul from AltCryptoGems suggested that the memecoin’s recent performance has been better than expected. After “a longer manipulation” and reclaiming the $0.00150 level over the weekend, the analyst believes Neiro is ready to move toward higher resistance levels, potentially targeting the crucial $0.0020 mark again. As of this writing, Neiro is trading at $0.00151, a 4% drop in the daily timeframe.

Circle has signed an MOU with HKT to explore a blockchain-based customer loyalty solution for merchants in Hong Kong. Hong Kong is considering imposing new tax concessions for virtual assets. Circle, the issuer of the stablecoin USDC, has officially signed a Memorandum of Understanding (MOU) with Hong Kong Telecom (HKT) to explore a blockchain-based customer loyalty solution customized for merchants in Hong Kong. This partnership focuses on leveraging Web3 technology to create dynamic engagement experiences between consumers and merchants. According to the Circle’s October 29 announcement, this collaboration seeks to modernize the way businesses engage with their customers. According to recent data, the global loyalty market holds a value of $5.57 billion, and approximately 70% of consumers consider loyalty programs as a significant factor in their purchasing decisions. Further, the initiative will integrate Circle’s Programmable Wallets with a plan to enable safer management of digital assets and smart contracts within existing consumer and enterprise applications. This move aims to streamline the Web3 experience and enhance the effectiveness of loyalty initiatives. In addition to its collaboration with HKT, Circle also formed a partnership with Thunes to innovate stablecoin liquidity management to improve innovation in managing stablecoin liquidity. Since USDC launched in 2018, Circle has processed a total volume of $17 trillion, although only about 6.8% of the global population currently engages with cryptocurrencies. Currently, USDC has a market cap of $34.69 billion and is poised to play a crucial role in the growing digital currency landscape. Hong Kong Explores Tax Concessions and Expands Licensing for Crypto Exchanges Meanwhile, Hong Kong is considering new tax concessions for virtual assets, according to Christopher Hui, the Secretary for Financial Services and the Treasury, who spoke at Hong Kong Fintech Week on October 28. Additionally, the city plans to issue more licenses for cryptocurrency exchanges by the end of 2024. The Hong Kong Securities and Futures Commission (SFC) aims to fully license more digital asset exchanges by year-end, following a five-month review. The authorities expected to publish a list of approved platforms soon. However, after Hong Kong introduced the license system in July, many crypto firms and exchanges closed down. Around 13 crypto exchanges or trading platforms withdrew their license applications, and some received application returns for undisclosed reasons. Highlighted Crypto News Today Vitalik Buterin Drives Change in Ethereum with ‘The Splurge’