The new Sega-licensed TCG will focus on the Asian gaming industry. Utsumi made the remarks in an interview with Dengeki Online. Shuji Utsumi, Sega’s Co-COO, recently expressed optimism in blockchain gaming and the potential role NFTs may play in the future of video games, despite having told Bloomberg a few months before that he finds play-to-earn games to be “boring.” Utsumi made the remarks in an interview that was first published as a sponsored article with Dengeki Online few weeks ago and translated into a blog post this week. The Co-COO stated: The Sonic the Hedgehog publisher’s Sangokushi Taisen card game’s intellectual property has been licenced to blockchain firm Double Jump.Tokyo, which is creating a brand-new trading card game (TCG) called Battle of Three Kingdoms with NFT cards motivated by the original 2005 game. Utsumi’s remarks are part of a larger discussion about this licensing arrangement. Eyeing Blockchain Games According to the announcement, the new Sega-licensed TCG will focus on the Asian gaming industry, include more than a hundred distinct cards, and get continued support in the form of game patches and upgrades after its first release. According to Utsumi, the new game was licensed to “revive” the old game’s intellectual property while also making sure to “protect what needs to be protected.” The original Sangokushi Taisen game’s producer will be in charge of developing Battle of Three Kingdoms, according to Sega’s Co-COO, and the company will also provide game materials. Ustumi described the partnership as “win-win” for both sides, citing Sega’s opportunity to gain insight into the development of blockchain games. Highlighted Crypto News Today: MetaMask App Briefly Removed; Then Reinstated on Apple App Store

The most frequent explanation was that regulators are putting pressure on ETH than BTC. A key concern raised by an analyst was whether or not staking was properly accounted for. This week, the crypto community learned of a striking discrepancy in the attitudes of the “whales” holding the two largest cryptocurrencies on the market: Bitcoin and Ethereum. On-chain research business Glassnode data shows a dramatic decline in the number of Ethereum “whales” (individuals holding 1,000 or more ETH, or around $1.5 million) since 2020, with the sale of $20 million worth of ETH. However, Bitcoin whales have been steadily building their reserves in stealth. With a handful of abrupt declines, either owing to the FTX crash or profit-taking after a strong 2021 bull run, the number of people who possess 1,000 BTC or more (about $26.9 million) has stayed quite stable over the same period. Missing Out Key Aspects Social media was ablaze with speculation as to the cause of the apparent difference in whale behavior, with prominent members of the Bitcoin camp using the opportunity to take aim at their Ethereum community rivals. The most frequent explanation was that regulators are putting more pressure on Ethereum than Bitcoin. However, both the Glassnode data and the conclusions generated from them seem to be lacking. A key concern raised by an analyst was whether or not the chart properly accounted for staking. He elaborated on the misconception that transfers to a staking contract constitute a sale on chain. To participate in the Ethereum network’s staking protocol and assist verify transactions on the blockchain, users must now commit 32 ETH to a smart contract. This seems to be what’s behind the supposed decline in institutional ownership. Highlighted Crypto News Today: Solana Price Shows Signs of Recovery Post Latest FTX Move

On Tuesday, an anonymous crypto analyst from a popular YouTube channel InvestAnswer shared more light on the future of Bitcoin. The analyst revealed that Bitcoin (BTC) is set to surpass both Gold and Silver in market capitalization in no more than a decade. BTC Is A Safer Haven Than Gold And Silver Over the years, Bitcoin has been regarded as digital gold due to the fact that the cryptocurrency offers the same benefits as gold with even additional features. In times of economic and political turbulence, BTC has been seen as a safe haven. In the YouTube video, the crypto analyst was able to highlight the underlying difference between Bitcoin and Gold, since Silver is no longer a safe haven and gold has been a more reliable precious metal than Silver. According to the crypto analyst, there has been distraught among the crypto community on the idea of whether the paper versions of gold and Bitcoin can change their real-world prices and potential price manipulations by financial giants such as JPMorgan and Blackrock. However, the analyst was kind to shed more light on the growing issue in the YouTube video. He said, “For gold, it’s impossible to know if there is a gold backing to the paper that exists, which makes things very risky. On the other hand with Bitcoin, it’s much easier to prove and check making it much more trustworthy.” In addition, the analyst stated that he strongly believes that Bitcoin will surpass Gold in 8-10 years, not just because of the preceding reasons but because the cryptocurrency can be so easy to verify. “Believe me, forget the other 20 advantages that Bitcoin has over gold. I believe Bitcoin will smash gold performance over the next 8 to 10 years because you can verify. Therefore, I know a lot of people are worried about paper and manipulation by the JPMorgan and the BlackRocks of the world but they can’t because it can be so easily verified.” he stated. Another crypto analyst David Waugh, the lead analyst of Coinbits, has also backed the cryptocurrency. According to the analyst, Bitcoin’s technological developments make it a superior asset over gold. He further added that the crypto’s improvements in divisibility, portability, durability, verifiability, and scarcity make the digital asset a more efficient and reliable store of value. Grayscale Bitcoin ETF Approval Sparks Momentum Recently, the United States Securities and Exchange Commission (SEC) has been given less than a day to file an appeal on the Grayscale plan to convert GBTC into a Bitcoin ETF or will be forced to approve the company’s plan. If the SEC fails to file an appeal before the end of the day, it could spark a possible bullish run in the crypto market as it means it is not contesting Grayscale’s win. Currently, Grayscale owns a significant amount of BTC, which it holds in trust and offers investors shares of the cryptocurrency as GBTC. If the company wins the case with the SEC, it could signal a possible bullish run for Bitcoin.

The FTX trustee staked 5.5 million SOL tokens, with an estimated value of $122 million. Despite the recent brief recovery, SOL is down 5.13% in the last 7 days. From one of the primary wallet addresses on the Solana blockchain, an address controlled by the FTX trustee staked 5.5 million SOL tokens, with an estimated value of $122 million as per Solana block explorer SolanaFM. Before this change, SOL investors were worried that the FTX trustee may sell the SOL tokens in a manner that would impact the price of the altcoin, leading to a drop in the value of SOL. All of these worries were put to rest by the most recent steps taken by the FTX trustee in reference to the SOL tokens. Moreover, the Solana Foundation has offered a $400,000 bounty to anybody who can successfully halt the Solana network. There is a $400,000 incentive for anybody who can put the Solana network to a stop, as revealed by Jacob Creech, Developer Relations Lead at the Solana Foundation. The Solana Foundation has established this as part of their bug bounty initiative. Brief Recovery At the time of writing, SOL is trading at $22.01, up 2.03% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 21.60%. Despite the recent brief recovery, SOL is down 5.13% in the last 7 days. Source: CoinMarketCap If the price manages to go past the $22.36 resistance area then a fresh rally is likely on the cards. On the other hand, if bears make an entry and drive the prices below $21.78 level, then it will likely test $21.07 recent support level. Breaching this level will likely see the SOL price going all the way till $20.3 mark.

It’s worth noting that a similar incident occurred last year, with Trust Wallet. MetaMask is one of the most popular self-custodial wallets with over 30M daily users. Self-custodial wallet MetaMask seems to have been removed from the Apple App Store and reinstated shortly after. The app could not be downloaded directly from anywhere, including the MetaMask download website for a brief while. No one has provided a reason why the cryptocurrency wallet was taken down from the App Store. However, whether or not MetaMask will be available again in the near future via the iOS app store was going through users’ minds. However, at the time of writing, the app is back on the Apple App Store. No Explanation Yet No MetaMask executives have commented on the stunning revelation, which is likewise unusual. Furthermore, Apple has not issued a formal comment on the company’s recent action. It’s worth noting that a similar incident occurred last year, with a major competitor called Trust Wallet. The Trust Wallet was removed from the App Store in 2022, but unlike MetaMask, whose developers have been unusually silent about the incident, they quickly took steps to calm user concerns. The Trust Wallet was back on the App Store in a flash. This was very much similar to the case today. In 2021, PayPal protested that the crypto wallet TokenPocket had a logo that was too similar to PayPal’s. Apple publicly announced the temporary withdrawal, citing PayPal’s trademark compliance as the reason. MetaMask is one of the most popular self-custodial wallets on the market with over 30 million daily users. The app also allows for easy conversion from cryptocurrency to fiat currency. Highlighted Crypto News Today: Struggle Continues for XRP Price; Further Decline Likely?

Recently, the price of Dogecoin (DOGE), the largest meme coin by market cap, has struggled alongside the general cryptocurrency market. However, the latest price action displays an exciting and positive outlook for the cryptocurrency. Renowned crypto analyst Ali Martinez recently shared a fresh insight on Dogecoin, speculating on a forthcoming price rally for the meme token. The Dogecoin Descending Triangle Formation Ali Martinez – via a post on the X (formerly Twitter) platform – put forward a $1 price target for Dogecoin. This price projection revolves around the multi-year descending triangle formation on DOGE’s weekly price chart. The descending triangle is a prominent technical analysis pattern that indicates a bearish market trend. Although it is often a bearish sign that suggests a downward trend breakout, it can also be a significant reversal pattern. In this particular scenario, the Dogecoin price has been in a continuous downward trend since May 2021. Prior to this sustained bearish run, the cryptocurrency had enjoyed a parabolic climb, with the price of DOGE claiming the $0.7 level (an all-time high) in April 2021. As already inferred, this positive run was short-lived, with the meme coin dropping to a low of $0.058 in October 2022. While the Dogecoin price has momentarily touched the $0.1 mark a couple of times since then, it currently trades in a range – and around the same $0.058 price. In the highlighted weekly chart, DOGE’s price is approaching the apex of the descending triangle pattern. Based on this formation, Martinez foresees a significant bullish run for Dogecoin if a weekly candlestick closes above $0.0835. According to the analyst, this fresh bull run could see the meme coin’s value skyrocket to as high as $1, implying a significant 1,580% rally from the current price point. Watch Out For This Level, Analyst Says While the chances of a new bull run seem strong for Dogecoin, the possibility of a fall still lurks. Specifically, Ali Martinez touted $0.0482 as a price level to look out for. This price zone, which is at the base of the descending triangle, represents a significant support zone. The analyst said any weakness around this area could cause the DOGE price to reach a new yearly low. As of this writing, Dogecoin is valued at $0.059329, reflecting a 1.7% price jump in the past day. According to CoinGecko data, the meme token’s daily trading volume stands at $163.3 million, representing a negligible 0.2% increase in the past day. Dogecoin still ranks amongst the 10 largest cryptocurrencies in the market, with a market cap of over $8.3 billion.

The FTX estate has reportedly staked 5.5 million Solana (SOL), worth $122 million. This development comes amidst fears of the defunct crypto exchange liquidating a substantial portion of its SOL holdings and inducing a bearish trend. FTX Renews Bullish Interest In Solana With Latest Move On October 14, blockchain tracking platform Whale Alert reported that 5.5 million SOL had been transferred between two unknown wallets. Thereafter, a crypto analyst with the X username ashpool soon identified the FTX exchange to be behind this whale transaction. Using data from gelato.sh, ashpool revealed that the FTX exchange had delegated the said 5.5 million SOL to the Figment staking service, an active validator on the Solana network. In September, the management of the bankrupt crypto exchange obtained court approval to liquidate its crypto holdings, valued at $3.4 billion, as they look to pay off their creditors. Solana accounts for the largest part of FTX’s crypto assets, with the exchange reportedly owning 55.8 million SOL, worth $1.16 billion. However, the majority of this SOL are currently staked, with FTX reportedly having access to 7 million SOL as of September, most of which had been sold off. On October 6, 9.1 million SOL, worth about $212 million, owned by Alameda Research – FTX’s defunct trading wing – were reportedly unstaked, prompting new fears of market sell-off by the FTX estate. However, FTX’s latest move to stake 5.5 million SOL shows the exchange is holding on to its SOL investments for now, which could be interpreted as a reassuring move for traders with fears of liquidation. Despite its bankrupt status, FTX is still considered a major player in the Solana ecosystem, owning 10% of SOL’s total supply. In addition to its SOL holdings, FTX also owns 20,500 BTC worth $560 million and 112,600 ETH, worth $192 million, among other crypto assets. SOL Up By 16% In One Month In other news, SOL is up by 16.06% in the last months despite fears of liquidation and worrying factors linked to the FTX exchange. Most recently, there were circulating rumors that the defunct exchange could “switch off” the Solana blockchain if it found the need to liquidate the long position of traders. However, these rumors were soon debunked by multiple accounts as fake. In fact, Jacob Creech, Head of Developers at Solana, drew the community’s attention to the fact there is a $400,000 SOL bounty for anyone who can find a “switch off” for the network. At the time of writing, SOL is trading at $21.98, with a 2.34% gain in the last day. Meanwhile, the token’s daily trading volume is up by 10.18% and is valued at $267.07 million.

Bearish sentiment is reinforced by the fact that XRP’s price is still below the 50-day EMA. The price has witnessed a significant 7.18% decline in the last 7 days. Recent statistics indicate that widespread use of XRP is still in its infancy, with over 3.6M wallets holding less than 500 XRP. Nonetheless, around 17% of all XRP wallets were established since the beginning of 2023, suggesting growing interest. When compared to the previous value of $7.16 billion in October 2022, the amount of XRP held by large investors, or “whales,” has increased to 27% of the entire circulating supply. After a court in the United States determined in July that Ripple (XRP) was not a security under certain circumstances, the price of the asset skyrocketed. In the recent weeks, it has lost all of its previous gains and is now among one of the worst-performing cryptocurrencies. Significant Decline The technical indicator of relative strength, the RSI, is now at 37, suggesting a negative scenario for the token. Bearish sentiment is reinforced by the fact that XRP’s price is still below the 50-day Exponential Moving Average. At the time of writing, XRP is trading at $0.4827, up 1.03% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 19.87%. The price has witnessed a significant 7.18% decline in the last 7 days. Source: CoinMarketCap If the price goes below the recent low of $0.48 mark then a further decline towards $0.42 is highly likely. If bears further continue their domination then price will likely test the $0.34 support area. Conversely, if the bulls intervene and drive the prices above $0.50 then a fresh rally eyeing $0.52 level is on the cards.

Amid the bear dominance, the price has declined 5.61% in the last 7 days. If the price breaks below the recent low of $1524 then it will likely test $1430 level. Investors have suffered heavy losses as a result of recent crypto market movements. The price of Bitcoin and several other cryptocurrencies has fallen recently due to concerns about geopolitical unpredictability and lackluster US macroeconomic statistics. IntoTheBlock, a blockchain data research company, says that the Ethereum network has entered a new period of low transaction fees and is once again testing a deflationary outlook for ETH. The research outlines that transaction fees on the Ethereum Blockchain have dropped to their lowest rate since April 2020, down by about 90% from their all-time high in May of this year. The Layer 2 solutions created to expand and improve the scalability of Ethereum are also highlighted in the research for their role in lowering transaction costs. As a result of this advancement, users of Ethereum may now conduct transactions at reduced rates. Struggle Continues At the time of writing, ETH is trading at $1547, down 0.03% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 16.14%. Amid the bear dominance, the price has declined 5.61% in the last 7 days. The crypto market as a whole has been facing severe selling pressure. Source: CoinMarketCap If the price breaks below the recent low of $1524 then further decline all the way till $1430 is on the cards. Breaking this support level will likely result in price testing $1145 support area. On the other hand, if the bulls could drive the prices above $1590 level, then a short-term rally all the way till $1650 resistance area is likely.

Following notable changes to the ARK 21Shares Spot Bitcoin ETF application, Bloomberg ETF analysts James Seyffart and Eric Balchunas have predicted that the US Securities and Exchange Commission (SEC) could approve a fund as early as next year. 90% Chance Of Approval In a post shared on his X (formerly Twitter) platform, Seyffart highlighted his team’s prediction of the 90% chance that a Spot Bitcoin ETF will be approved by Ark Invest’s January 10 deadline. January 10 is the day the SEC is expected to make a final decision (approval or denial) on ARK Invest’s Spot Bitcoin ETF application. Their latest prediction comes amid the recent amendment ARK Invest and 21Shares made to their Spot Bitcoin ETF prospectus. These updates include further context to the fund and additional risk disclosures. These analysts believe that this sort of amendment only happens when a fund is on its way to being approved. These Bloomberg analysts had earlier predicted (following Grayscale’s victory) that there was a 75% chance that the pending Spot Bitcoin ETF applications could be approved this year and that the odds would rise to 95% by the end of next year if these funds weren’t approved by then. Eric Balchunas noted on his X platform that Invesco Galaxy had also amended its Spot Bitcoin ETF prospectus following the ARK 21Shares amendment. He stated that he expects other applicants to update their applications soon. This suggests that the SEC could approve all applications simultaneously, similar to what it did with the Ethereum futures ETFs. Spot Bitcoin ETFs Given Huge Boost Following SEC’s Decision Meanwhile, these Spot Bitcoin ETF applications were given a huge boost following the SEC’s decision not to appeal the court’s ruling in its case against Grayscale. The SEC had until October 13 to appeal the Court of Appeal’s ruling that it had acted arbitrarily and capriciously in disapproving Grayscale’s application to convert its GBTC fund into a Spot Bitcoin ETF. Following its decision not to file an en banc application or appeal to the Supreme Court, Reuters reported that the appeals court is expected to issue a mandate laying out how the SEC could carry out its order, including the Commission reviewing Grayscale’s application again. James Seyffart also noted that dialogue between Grayscale and SEC should begin next week. However, it remains uncertain if or when the SEC will approve these applications, especially considering that it has delayed its decision on all Spot Bitcoin ETFs till next year. Bitcoin has reacted positively to the news of the SEC’s decision not to file an appeal, currently trading at around $26,849.76, up in the last twenty-four hours, according to data from CoinMarketCap.

The trial against FTX co-founder Sam Bankman-Fried took an intriguing turn as Zac Prince, the CEO of defunct crypto lender BlockFi, provided testimony in a Manhattan federal courtroom. Prince’s appearance provided valuable insights into the intricate relationship between BlockFi, FTX, and Alameda Research. BlockFi’s Bankruptcy Rooted In Alameda And FTX According to a Bloomberg report, Prince revealed that BlockFi had substantial exposure to Alameda and FTX, estimated at around $1 billion, at the time of BlockFi’s failure in November 2022. Prince asserted that if the loans to Alameda were still in good standing and the funds on FTX were available, BlockFi would not have filed for bankruptcy. This statement suggests that BlockFi’s financial troubles were closely tied to the collapse of Alameda and FTX. Prince’s testimony diverged significantly from Caroline Ellison, the government’s star witness, who portrayed Bankman-Fried as the mastermind behind a fraudulent scheme using FTX customer funds for speculative trading at Alameda. Prince’s account positioned BlockFi as a victim of Bankman-Fried’s alleged schemes, claiming that BlockFi made loans to Alameda based on misleading balance sheets. Defense lawyers sought to emphasize that BlockFi willingly provided the loans to Alameda, with knowledge of the associated risks. Creditors Accuse BlockFi Of Inadequate Due Diligence Prince discussed BlockFi’s due diligence process regarding Alameda’s collateral, comprised of tokens affiliated with FTX. The judge requested plainer terms during Prince’s explanation, prompting an analogy using car loans. Per the report, the prosecution questioned the adequacy of BlockFi’s due diligence, as creditors accused the company of failing to recognize warning signs before offering substantial loans to Alameda. Prince’s testimony highlighted that providing “unaudited balance sheets” is an industry norm for borrowers seeking loans. The defense sought to establish that BlockFi knew the risks of lending to Alameda and acted within industry norms. Zac Prince’s testimony in the trial against Sam Bankman-Fried provided a deeper understanding of the intertwined relationships within the crypto industry. BlockFi’s exposure to Alameda and FTX and its subsequent bankruptcy offered insights into the potential repercussions of alleged fraudulent activities. The differing narratives presented by the prosecution and defense underscore the complexities of the case. As the trial unfolds, the court will continue to examine the details surrounding BlockFi’s lending practices and the extent of Bankman-Fried’s involvement in the alleged schemes. It is important to note that BlockFi can no longer be utilized for crypto-related activities, as the company declared bankruptcy and suspended withdrawals in November 2022. The bankruptcy filing indicates that BlockFi owes between $1 billion and $10 billion to over 100,000 creditors. Featured image from NBC, chart from TradingView.com

Bitcoin, the leading digital asset in terms of market cap and adoption, recent activity on its price chart has led to speculation and predictions about its future trajectory. Acclaimed cryptocurrency trader, known as Mags on the X (formerly known as Twitter) platform, recently shared his analysis on Bitcoin, suggesting a significant price surge for Bitcoin soon. The Bitcoin ‘Head And Shoulders’ Insight According to Mags, Bitcoin’s journey to a $70,000 price tag is foreseeable. His deduction stems from observing an inverted ‘Head and Shoulders’ pattern on Bitcoin’s price chart. Notably, this is a predictive tool in technical analysis that indicates potential price reversals based on prior movements. Mags highlighted that Bitcoin’s price is currently at the so-called ‘neckline’ of this pattern. If the pattern holds and Bitcoin breaks out from this neckline, it could be a bullish indicator for the flagship cryptocurrency. Mixed Reactions In The Community Sergey Stolyarov, a user on X, expressed skepticism over the said pattern’s significance. In Stolyarov’s view, the construction and structural reasons don’t qualify the observed pattern as a ‘Head and Shoulders.’ Stolyarov added that such formations could be discerned at any time and any part of the Bitcoin chart, implying the ubiquitous nature of pattern formation in volatile markets. Another user criticized Mag’s interpretation of Bitcoin’s price chart, emphasizing that a genuine “Head and Shoulders” pattern exists on the regular chart that predicts a price decline to 20,000. The user noted: However, while some users sided with Mags, others took a more critical approach. Resham Singh, another member of the X platform, voiced appreciation for Mags’ analytical approach, deeming it “impressive.” Singh seemed to align with Mags’ projection, hinting that such a price movement would mark a milestone for Bitcoin. Featured image from Unsplash, Chart from TradingView

It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles” are any indication, a major price correction could be right around the corner. The Bitcoin halving cuts the block reward for miners in half. This happens roughly every 4 years to slow the creation of new BTC and control inflation. Based on historical data from the previous two Bitcoin halvings, the price of BTC could drop by up to 38% before the next halving. In a chart shared on X (formerly Twitter), Rekt Capital showed a major pull back has happened around six months before each halving. In the 2015 cycle, BTC retraced 25% 196 days before the 2016 halving. In 2019, BTC retraced 38%, 196 days before the 2020 halving. So with the next halving slated to occur around April 2024, it would seem the market is now in a prime position for the next correction. Bitcoin is currently 60% below its all-time high, following a similar pattern with past halvings. 200 days before the 2020 halving, BTC was 60% below its all-time high. Likewise, 200 days before the 2016 halving, BTC was 65% below its all-time high. What A Correction Would Mean For BTC Bitcoin’s price direction is currently uncertain, especially as on-chain transactions on the blockchain are now at a three-month low. On-chain metrics have shown that 95% of Bitcoin’s circulating supply hasn’t changed hands in the past month, as investors seem to be holding on to the cryptocurrency in anticipation of the SEC’s approval of spot Bitcoin ETFs. Although past performance doesn’t always repeat, if this pattern shows up again before the next halving, Bitcoin could be in for a big correction. With the current price of BTC now at $26,770, a 38% retracement could see BTC fall below $18,000. If this happens, it would be devastating for BTC holders. Even though a price correction may be on the horizon, Bitcoin’s long-term growth prospects remain strong. Over the past decade, Bitcoin has shown a consistent upward trend as the largest crypto by market cap despite facing several setbacks. Bitcoin has been named the best performer this year in terms of asset investing by Reflexivity, a digital asset research firm. According to billionaire hedge fund manager Paul Tudor Jones, this is the best time to buy BTC.

In an exclusive investigation, Sasha, the co-founder of Arcanum Ventures delves into the mysteries surrounding Pepe, one of the most sensational meme coins of recent times. Building on his previous report, he meticulously scrutinized the early on-chain transaction data, unveiling a startling revelation. Shortly after the complete token supply of Pepe was minted, a staggering 93% of these tokens were swiftly transferred to the Liquidity Pool (LP), aligning seamlessly with the promises made on the project’s official website. Immediately following the massive token migration into the Liquidity Pool, a flurry of buy transactions swept through the Pepe coin ecosystem, totaling approximately half a percent of the entire token supply. The rapid succession of these transactions, occurring within an exceptionally brief timeframe was disturbing. Newly Created Wallets The most intriguing discovery lay in the depths of the on-chain data – a multitude of these transactions were orchestrated by newly created wallets, devoid of any prior transaction history. This puzzling development raises questions about the identities and intentions of these anonymous investors who seemingly materialized out of thin air to participate in the Pepe coin phenomenon. This pointed towards a meticulously coordinated insider operation that may have been at play, aimed at swiftly acquiring a substantial chunk of Pepe token supply upon its integration into the Liquidity Pool, with the intent to cash in on substantial gains once Pepe garnered heightened hype and speculation. The meticulous analysis involved a thorough examination of Pepe’s price history, closely aligned with the token transactions that caught the attention. Astonishingly, each of the 57 newly created, previously unknown wallets invested around $50 in Pepe, only to later reap extraordinary profits, nearing a staggering quarter of a million dollars per wallet. Massive Gains As per the co-founder, the implications are nothing short of jaw-dropping, as this potentially coordinated effort suggests that a single individual or a well-coordinated group might have pocketed over $10 million within a mere one-week timeframe. The revelation of this massive windfall underscores the captivating and, at times, enigmatic world of cryptocurrency. In the ongoing quest to unveil the identities behind these intriguing insiders, Sasha aims to construct a character profile based on their on-chain activity, transaction history, and possible interactions with other assets. Before he delved into the fascinating world of these enigmatic figures, he addressed a critical question that might have crossed many minds: How did these seemingly new wallets, with no prior assets, execute their Pepe coin purchases? The answer lies in the existence of funding transactions that provided them with the essential Ethereum (ETH) needed for their acquisitions. Diving Deeper The next investigative step was to explore these funding wallets, which took Sasha even deeper into the labyrinth of on-chain data, potentially shedding more light on the coordination he suspected. In the relentless pursuit of identifying the individuals behind these intriguing transactions, Sasha turns to Etherscan, a valuable tool for unraveling the enigma. He then took a random wallet address from on-chain data, and uncovered a compelling clue. On April 14th, around 8:00 PM GMT, this wallet executed its first recorded transaction—an acquisition of Pepe. This timestamp served as the entry point for uncovering the probable funding transaction that preceded it. Upon further examination of Ethereum transactions, Sasha identified a transaction just 20 minutes prior to the Pepe purchase, where 0.06 ETH flowed into the wallet. This seemingly innocuous incoming ETH could be the key to understanding the origins of these acquisitions. Notably, it appears that “Fixed Flow,” a protocol within the Ethereum blockchain, was involved. This might have been employed by the insider to obscure the funding’s source, creating a figurative curtain over the transaction’s paper trail. The investigation then extends to encompass a multitude of new wallet addresses. These addresses were analyzed using a transaction behavior workbook specifically designed for this purpose. This versatile tool enabled the investigator to simultaneously assess numerous wallets, filter them by their primary funding asset, and pull relevant data from various on-chain API integrations. As a result, the investigation could ascertain the number of transactions, both incoming and outgoing, for each wallet, as well as the respective volume of ETH. This analysis yields valuable insights, allowing to map out the flow of Ethereum across these wallets and link them to potential funding sources. The culmination of this exhaustive investigation leads to a comprehensive dashboard, where all pieces of the puzzle begin to fall into place. Critical Golden Hour The complexity of this investigation deepens as the co-founder discovers that all 57 original wallets that snapped up Pepe tokens during the critical “golden hour” were funded by just eight original sources. This revelation is nothing short of astonishing. Adding another layer of intrigue, it becomes apparent that these funding transactions occurred within a remarkably brief two-hour window right before Pepe’s integration into the Liquidity Pool. Looking closer at these funding sources, the investigator highlights that 13 wallets were powered by the Fixed Flow hot wallet, which, as mentioned earlier, is a protocol known for its relative obscurity. Its limited popularity and perceived risks make it a choice that stands out. Additionally, 32 wallets were supplied by the Uniswap universal router, a protocol within the Uniswap ecosystem that enhances transactional flexibility. It enables funds to flow from one wallet to another, potentially concealing the origin of the transactions. These findings provide further credence to the notion that these coordinated purchases might indeed have been executed by insiders tied to Pepe’s creation. Adding to the intrigue, the investigator notices a couple of ENS designations in the mix. For instance, he came across “beautifulbabbies.eth” and “dancebabbiedance.eth,” which, despite their peculiar names, offer vital clues. The similarity in names, incorporating “babbies” (a misspelling of “babies”), suggests a connection between the wallet owners. This points to a coordinated effort in the early stages of Pepe’s launch, possibly implicating these individuals as insiders or founders of the project. Mysterious Individuals Associated This intricate web of coordination is pushing the boundaries of the investigation. As the investigator delves even deeper into the on-chain transaction data, he is poised to uncover more about the mysterious individuals associated with Pepe, including their operating methods and intentions. A key focal point in the investigation lies in the ERC20 token transfers, providing the investigator with invaluable information. The transaction history reveals a diverse array of assets, some of which may be microcap altcoins, given the volume of tokens being exchanged. While the specifics of these tokens may not be familiar, their movements provided insights into the target’s financial activities. To understand the bigger picture, the investigator ventured into the communities of crypto Twitter, Telegram, and Discord, where he gauged how these individuals interact and observe the community dynamics. Here, he uncovers the projects they promote, examines the transaction values—ranging from $200 to $20,000—and gauges the financial bracket and risk tolerance of the subject. Furthermore, he examines the time intervals between their buy and sell transactions, providing insights into their investment horizon. Short-term, rapid trades may hint at pump-and-dump strategies, potentially fueled by insider information or ties to these projects. Sasha stated that he will carry on with the investigation and come up with more key aspects, where he will delve even deeper into the identities behind these transactions. For now, he concluded an intriguing outlook—this appears to be a coordinated insider transaction campaign, possibly orchestrated by Pepe’s creators. Their interest in engaging with lesser-known altcoins suggests a broader picture of their activities. In conclusion, the investigator pieced together a preliminary profile of the individuals possibly behind these transactions using simple on-chain data analysis.

A trader on Aave, a decentralized liquidity protocol operating on multiple platforms, including Ethereum and OP Mainnet, has begun selling wrapped Bitcoin (WBTC) to repay outstanding debt, records on October 13 reveal. WBTC is a tokenized version of Bitcoin issued on Ethereum that allows holders to engage in decentralized finance (DeFi) activities. Trader Selling WBTC To Repay Debt On Aave v2 According to Lookonchain data, the unidentified trader marked with address “0x47ab” borrowed roughly $8 million worth of multiple stablecoins, including USDC, USDT, and DAI, Maker’s stablecoin, on Aave v2 after depositing various assets, including WBTC, Maker (MKR), and Ethereum (ETH) worth approximately $11 million. When writing, the health factor of borrowed assets stands at 1.09, teetering close to liquidation. According to Aave’s documents, the health factor is a metric that compares the safety of collateral and borrowed loans to the underlying value. Technically, the higher it is, the safer the funds are from liquidation. If the health factor exceeds $1, deposited collateral will be liquidated to borrow outstanding loans. Aave is a popular decentralized finance (DeFi) protocol where token holders can choose to supply liquidity and earn passive income. At the same time, users can deposit collateral and borrow overcollateralized loans, which they can repay at any time, provided the health factor is around 1. Since loans are overcollateralized, the collateral is usually higher than the borrowed amount. Volatile Bitcoin Prices To Blame? As it is, the trader, Lookonchain shows, has started selling WBTC to repay outstanding debt. A big chunk of what the trader supplied is in WBTC, standing at 366.56 WBTC, worth roughly $9.1 million at spot rates. However, considering market prices have fluctuated recently, the contraction has impacted the health factor, increasing the risk of collateral liquidation. To counter this, the trader sold 3 WBTC for roughly $80,000. The address still owes Aave V2 approximately $8.08 million, mostly in USDT, at around $5 million. There are $3 million of USDC and around $368,000 of DAI. It is unclear whether the trader will seek to borrow more, especially if Bitcoin prices increase. The address remains long on MKR, the governance token of the MakerDAO protocol; Uniswap’s UNI; Chainlink’s LINK; and Ethereum. Besides WBTC, the trader’s second-largest holding is in ETH, while the smallest is MKR. Ironically, MKR has been one of the top-performing assets, rallying by over 160% in H2 2023 alone. The token peaked at $1,600 in early October before cooling off to spot rates.

Cardano is down 45.6% from its yearly high of $0.4518 and is showing no signs of slowing down at the moment. Data has shown that at its current price, the majority of Cardano holders are losing money, further showing the state of the cryptocurrency’s price. Cardano (ADA) addresses in loss is now over 94%, leaving many investors wondering if it’s time to cut their losses and move on. Cardano (ADA) Addresses In Loss Rise Over 94% Cardano (ADA) is currently the 8th largest crypto by market cap, with a market cap of $8.65 billion. However, all metrics have pointed to the cryptocurrency losing stream and struggling to receive inflow from investors. For instance, ADA is down by 7.% in a 7-day time frame. Its trading volume has also fallen by 12.67% in the past 24 hours, showing a lack of interest in either buying or selling the cryptocurrency. Data from IntoTheBlock’s In/Out of the Money metric has shown the number of Cardano addresses in red is now at 94.15%. The metric, which shows the number of addresses making profits and losses at a cryptocurrency’s current price, shows that the number of Cardano addresses in loss is now over 4.19 million. Many ADA investors bought in near the peak hype during its all-time high. Of the 4.19 million addresses in loss, 691,480 addresses bought between $1.59 to $2.97, and 608,590 addresses bought between $1.17 to $1.59. On the other hand, only 174,840 Cardano addresses representing 3.92% of the total addresses, are currently at a profit. Whale transactions have also been quiet on Cardano’s blockchain in the past 24 hours. Another IntoTheBlock metric shows the number of transactions with a value of $100,000 or greater has been in a freefall since May. Source: IntoTheBlock Is It Time To Jump Ship? The low profitability of ADA holders is probably surprising, given the Cardano blockchain’s popularity. According to recent data released by blockchain analytics firm Santiment, the Cardano network is still the most popular among developers. Cardano developers have also been actively building and introducing exciting innovations to the blockchain and ecosystem. One example of these developments is the updates to its Lace wallet. Cardano’s founder, Charles Hoskinson, recently dismissed rumors of issues within the blockchain. And as long as developers remain dedicated to improving the network, Cardano will continue to progress as one of the biggest cryptocurrencies. For long-term believers in ADA, the current low price could actually be an opportunity to stock up in anticipation for the next crypto bull market.

Paolo Ardoino was named Tether’s new CEO in an official statement released on October 13. After working with Bitfinex for three years, Ardoino joined Tether in 2017 as its CTO. USDT stablecoin issuer Tether has appointed Paolo Ardoino as its new CEO. Jean-Louis van der Velde, the company’s former CEO, has moved into an advising position to continue his contributions. Ardoino’s growth into emerging fields and investment in Bitcoin have been met with praise from the cryptocurrency community. Paolo Ardoino was named Tether’s new CEO in an official statement released on October 13. Ardoino will keep his present positions as Bitfinex’s CTO and Holepunch’s chief strategy officer. CEO duties will be assumed by Paolo Ardoino beginning in December 2023. Jean-Louis van der Velde, the company’s current CEO, will move into a new advisory position that time. Jean-Louis van der Velde said: Calculated Move Paolo Ardoino informed the crypto community through Twitter. Key figures in the digital asset industry, including Tron’s founder Justin Sun, VanEck’s Gabor Gurbacs, and others, congratulated him. According to the announcement, this is a calculated move made to better serve Tether’s long-term goals. With Ardoino at the helm, Tether can strengthen its position and enter new markets. After working with Bitfinex for three years, Ardoino joined Tether in 2017 as its chief technology officer. Starting in 2020, Tether’s (USDT) market value began to expand exponentially, eventually reaching $83.5 billion. Highlighted Crypto News Today: Loom Network (LOOM) Shines Bright With 510% Surge in a Month

In what could be a pivotal day for the Bitcoin price, the last day for the US Securities and Exchange Commission (SEC) to appeal the Grayscale Bitcoin (BTC) spot Exchange-Traded Funds (ETF) decision is approaching, and the crypto community is eagerly awaiting the outcome. The implications of this decision are significant, as it could pave the way for the approval of several other spot Bitcoin ETFs. Impending Approval Of All Proposed Bitcoin Spot ETFs? According to crypto YouTuber Crypto Rover, if the SEC does not appeal the court’s ruling by the end of the day, it would potentially lose its ability to deny future applications, resulting in the likely approval of all proposed spot ETFs. The current list of applicants seeking approval includes prominent names such as Grayscale Bitcoin Trust, Ark/21 Shares Bitcoin Trust, Bitwise Bitcoin ETF Trust, BlackRock Bitcoin ETF Trust, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Valkyrie Bitcoin Fund, Invesco Galaxy Bitcoin ETF, and Fidelity Wise Origin Bitcoin Trust. If all Bitcoin spot ETFs are approved, the move would mark a significant milestone in the mainstream adoption of cryptocurrencies. Accepting these financial instruments would provide investors with a regulated and easily accessible avenue to gain exposure to Bitcoin’s price movements without directly owning the underlying asset. The approval would also vote for confidence in the cryptocurrency market, attracting institutional investors and potentially injecting fresh capital into the space. The approval of Bitcoin spot ETFs also can ignite a renewed sense of optimism and investor sentiment. The anticipation of such a development has already fueled speculation of a Bitcoin rally, with market participants eyeing a new annual high. The thawing of the crypto winter and the approval of these ETFs could create a perfect storm for a Bitcoin price to surge, potentially breaching the $30,000 mark and beyond. Bitcoin Price Awaiting ETF Relief The largest cryptocurrency in the market is striving to reclaim the crucial $27,000 level, trading at $26,700. This level holds significant importance for bullish investors as it represents a key threshold to break the mid-term downtrend structure observed in BTC’s 1-day chart since its yearly high of $31,800 on July 13 Additionally, the failure of the Bitcoin price to hold its 200-day (yellow line) and 50-day (brown line) moving averages (MAs) as support lines is a cause for concern among bullish traders. These MAs, similar to the situation in March 2023, are currently converging. However, the potential approval of a BTC spot ETF could provide much-needed relief to Bitcoin’s price. Forming a complete rally would require overcoming various resistance levels in such a scenario. In the short term, Bitcoin’s price will likely face a significant obstacle at the $27,900 level, which was briefly surpassed on October 2nd. Furthermore, BTC encounters a 3-month resistance at $28,700, marking the final hurdle before reaching the $30,000 level, serving as another resistance line. Nevertheless, the community anxiously awaits the approval of BTC spot ETFs, hoping that it will bring a sense of relief and bullish momentum for investors and Bitcoin’s price. Featured image from Shutterstock, chart from TradingView.com

Bitcoin’s history is filled with stories of people who put small, disposable amounts of money into the crypto and ended up making a fortune. This has been no different from the case of one Norwegian man, whose throwaway $22 Bitcoin investment has turned into a life-changing sum. When Kristoffer Koch had originally invested in Bitcoin back in 2009, the cryptocurrency was only trading for a few cents. Koch, at the time, was intrigued which is why he said he made the purchase. He got 5,000 BTC for around $22 at the time, although this figure often varies. Nevertheless, Koch ended up forgetting about this purchase until four years later when Bitcoin had blown up. By the time the Norwegian man got into his Bitcoin wallet, his initial $22 purchase had ballooned into $850,000. Upon seeing the life-changing sum, Koch revealed that he had used part of the money to buy himself a flat in Oslo. As stories like these continue to make the rounds, a question on the lips of investors, especially those who came in later than the likes of Koch, is which cryptocurrencies could replicate such growth. So here are some picks that look good. Fetch AI (FET) Brings AI To Crypto The AI narrative is still holding strong both within and outside the crypto market and this has positioned some projects to be able to take advantage of its expected growth. Fetch AI’s native FET token has already shown the opportunity that lies in this space but that was only in a bear market. A bull market could see FET’s price rise further and do numbers. The project is looking to democratize AI access through a crypto economy. This means users will be able to access AI in a completely decentralized and permissionless way unlike the AI products seen in traditional spheres. Secret (SCRT) Challenges Bitcoin With Privacy Presently, when the topic of privacy coins comes up, two names tend to pop up quickly, which include Monero’s XMR and Secret’s SCRT. Secret actually users ‘Secret Contracts’ to allow decentralized applications to offer completely private transactions. As the demand for privacy grows among crypto users who constantly have to be aware of the government’s encroachment, SCRT’s value proposition becomes even more important. Added to its low $51 million market cap, SCRT could see a rally similar to that of Bitcoin. Radiant Capital (RDNT) With Fragmented Liquidity When it comes to carrying out transactions on-chain, liquidity becomes king, and this is where Radiant Capital (RDNT) comes in. The project is looking to consolidate fragmented liquidity in a bid to enhance the available liquidity for decentralized finance (DeFi) protocols. This will work across a number of lending protocols regardless of the blockchain that they are on. So instead of hopping from one protocol to another, DeFi users can take advantage of this using a single protocol. Radiant’s value proposition in a sector that is continuously evolving and growing could see it put on a Bitcoin-like rally. This could see its market cap go from its current $70 million to billions of dollars.

Data shows that Dogecoin transactions have dropped more than 98% since June, a sign that investors have lost interest in the meme coin. Dogecoin 7-Day Transaction Count Has Dropped To Just 37,300 According to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has really slowed down recently. The metric of interest here is the total number of transactions that the Dogecoin blockchain is observing every day. When this indicator has a high value, it means that the investors are making a large amount of moves on the network right now. Such a trend implies that the holders have an active interest in trading the cryptocurrency. On the other hand, low values imply the blockchain is only seeing a few daily transfers, which can be a sign that traders have no interest in using the meme coin currently. Now, here is a chart that shows the trend in the 7-day average number of daily Dogecoin transactions over the past few months: As displayed in the above graph, the Dogecoin blockchain observed a high amount of transaction activity during July and the first half of August. As the second half of August kicked off, however, the indicator’s value saw a steep decline. The reason behind this sharp drop is likely to be the crash that the price of the meme coin saw at about the same time. Before this crash, DOGE had been trading above the $0.076 mark, but after it, the asset plummeted toward the low $0.06 level. Till now, the coin hasn’t been able to recover from this plunge. Rather, the memecoin’s situation has only become more dire recently, as its price has registered some drawdown even below these lows. From the chart, it’s visible that the transactions on the network have seen a similar fate, as they have dropped to pretty low levels now. At present, the 7-day average number of daily transactions on the Dogecoin blockchain stands at 37,300, which is quite the plunge compared to the 616,000 spike seen in July. The current levels are even worse when looking at a longer timespan, as IntoTheBlock notes that the asset had been enjoying 2.1 million 7-day average daily transfers just back in June. Compared to this high in June, the network activity today has declined by more than 98%, which is a staggering figure. It would appear that almost no one wants to use Dogecoin right now, at least compared to the high interest the coin had seen a few months back. Historically, rallies have been backed by a high amount of user activity, but as transfers have shown no signs of any recovery recently, it’s not surprising that the meme coin’s price hasn’t been able to display any momentum, either. DOGE Price Dogecoin has seen more bearish price action in the past few days as the asset’s value has now dropped below the $0.058 level.