Data shows the Ethereum Estimated Leverage Ratio has shot up to extreme levels recently. Here’s what this could imply for the asset’s price. Ethereum Leverage Ratio Appears To Have Been Rising Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the ETH Estimated Leverage Ratio has continued its uptrend recently. The “Estimated Leverage Ratio” here refers to an indicator that keeps track of the ratio between the Ethereum Open Interest and Derivatives Exchange Reserve. The Open Interest is a measure of the total amount of derivatives positions related to ETH that are currently open on all exchanges, while the Derivatives Exchange Reserve keeps track of the amount of ETH sitting in the wallets of all derivatives platforms. When the value of the Estimated Leverage Ratio rises, it means positions on exchanges are growing at a faster rate than the collateral inflows. Such a trend suggests the investors are opting for a higher amount of leverage on average. On the other hand, the indicator going down implies the appetite for risk is decreasing among the derivatives market users, as they are taking on a lower amount of leverage. Now, here is a chart that shows the trend in the Ethereum Estimated Leverage Ratio over the past year or so: As displayed in the above graph, the Ethereum Estimated Leverage Ratio had reached high levels earlier in the year, but its value had seen a plunge as the asset’s price had gone through its crash in late July/early August. Over the last couple of months, however, the indicator has seen a resurgence, with its value now completely recovering back to the same highs as before. This suggests that the investors have been opening leveraged positions on the market. Historically, an overleveraged market has generally resulted in volatility for the ETH price. This is because of the fact that a mass liquidation event, popularly called a squeeze, is probable to occur whenever the derivatives users are taking on high risk. Earlier in the year, the increase in the Ethereum Estimated Leverage Ratio had come alongside a surge in the price, which implies the leveraged positions cropping up had been long ones. Usually, a squeeze is more likely to affect the side of the market that’s more dominant, which may be why the overleveraged market from back then had culminated into a long squeeze. The recent increase in the metric has come while Ethereum has been displaying an overall bearish trajectory, so the new leveraged positions may be short ones. If this is indeed the case, then the coin could end up witnessing a short squeeze alongside a rally. ETH Price Ethereum had seen a break above $2,700 earlier, but the coin appears to have seen a pullback as it’s now trading around $2,600.

Sky’s rebrand faces backlash; community prefers MakerDAO’s established identity. Founder Rune Christensen’s transactions raise concerns about Sky’s direction. Sky, formerly known as MakerDAO, is currently navigating significant changes and community feedback following its rebrand. Founded by Rune Christensen, Sky is grappling with user concerns regarding its new identity and governance structure. The protocol, previously famous for creating the decentralized stablecoin Dai, has introduced a new stablecoin, USDS, which has already surpassed a supply of 1 billion just two weeks after launch. This growth has brought an influx of $700 million into both USDS and Dai. Sky’s USDS has seen strong integration across leading DeFi platforms such as Aave, Ethena, and Morpho, while the Sky.money website has attracted over 400,000 visitors within a month. Despite these achievements, Christensen acknowledged negative feedback from the community about the rebrand, with many users preferring the older MakerDAO identity and MKR governance token. To address this, Christensen proposed three potential paths: keeping the Sky brand, reverting to MakerDAO, or adopting a hybrid approach. It retains the Maker name while aligning it with Sky’s new products. Meanwhile, Rune Christensen’s recent transactions have added complexity to the situation. He sold 2.04 million ENA tokens for 744,000 USDC after claiming them from Ethena Labs. And redeemed 22.08 million USDe back into USDT, raising questions about his stance on Sky’s tokens. These actions, coupled with his previous status as a top USDe holder, have fueled speculation about potential shifts in strategy. Formal Voting To Be Done A community meeting is scheduled for October 25, where the “Atlas Edit” proposal will be discussed. This will be followed by further community input and a formal vote on November 4 to decide on the future of Sky’s branding. Notably, Ethena, known for the USDe stablecoin, has experienced significant growth, breaking key patterns on the charts, and attracting smart traders, making its future particularly promising. Highlighted News Of The Day WazirX Founder Nischal Slams CoinSwitch Allegations as Baseless

Vitalik Buterin expressed his concerns over Micheal Saylor’s comment on Bitcoin custody. Saylor suggested Bitcoin holders rely on financial custody firms over hardware wallets. The crypto community has witnessed some intriguing debates over the past day igniting the discussion panels. Recently hacked WazirX founder Nischal Shetty retorted to CoinSwitch CEO’s allegations on fund movements sparking much debate among degens. However, Michael Saylor caught the spotlight by suggesting handing Bitcoin custody to ‘big banks’. MicroStrategy Founder, Micheal Saylor has received much criticism from the crypto market for his comment on crypto regulations. Michael Saylor, in a recent interview, discussed that Bitcoin owners had ‘nothing to lose’ when converting their assets to institutions. This would mean that Bitcoin owners would no longer have self-custody for which Michael Saylor stated that it was unnecessary fear. Ethereum co-founder Vitalik Buterin expressed his concerns on X against Saylor’s comment, referring to them as not sane. The tech genius further stated that there were several ways in which Saylor’s strategy could fail and that crypto doesn’t refer to such regulated assets for him. Vitalik Buterin stated in the X post: Further, the Executive Chairman was questioned about the US government’s stripping Bitcoin holders of self-custody rights. He responded that it was a myth and trope that had been going on for a long time. The interview has led to amplified outrage among Bitcoiners. This comment also contradicts Micheal Saylor’s earlier views on self-custody. What Regulatory Strategy Did Micheal Saylor Propose For Bitcoin? Micheal Saylor referred to digital asset management institutions such as Fidelity and BlackRock stating them as examples for regulating public entities. He went on to say that when regulating them was possible Bitcoin bank custody would not cause harm. Additionally, Saylor suggested that crypto holders must rely on ‘big banks’ that are engineered to be custodians of financial assets rather than depending on hardware wallets. Several leading community members similar to Buterin have expressed their outrage at Saylor’s comments. Meanwhile, the Ethereum community hit a new milestone as the ETH supply surge hit a 6-month high in the last 24 hours. Highlighted Crypto News Today: Can Shiba Inu Bulls Ignite a Rally Soon?

It has been a remarkable past few days as Bitcoin (BTC) shot up, raising investors’ hopes. As prices begin to explode and top altcoins like Ripple (XRP) and Toncoin (TON) trade on the upside, DTX Exchange (DTX) steals the spotlight with a remarkable performance. The emerging cryptocurrency soared past $5.3 million in early funding, highlighting growing confidence and suggesting an explosive launch. Behind this massive show of interest are its novelty as a hybrid trading platform combining CEX and DEX’s best features and staggering upside potential. DTX Exchange (DTX): The Best Crypto to Invest in? DTX Exchange (DTX), a hybrid exchange-based token, is quickly becoming a fan favorite. It widened the gap with most new ICOs after crossing the $5.3M fundraising goal, cementing its status as this quarter’s best presale. The ICO has been selling out fast in the fourth round, undervalued at $0.08. This low entry is one of its many attractions, along with its massive growth prospects. Teeming with potential as a novel trading platform that combines the best elements of CEX and DEX, analysts project a jaw-dropping 100x growth after its launch. Also driving interest is its anticipated transformation of the $3.2 billion global trading market. Unlike conventional exchange protocols, users will enjoy benefits like wallet-based trading, non-custodial storage solutions, distributed liquidity pools and diverse asset classes. It aims to bridge the gap between DeFi and TradFi and given its impending adoption and growth, it has been hailed as the next Ripple (XRP) and Toncoin (TON). Ripple (XRP): Over 2% Uptick The altcoin market gains significant traction and Ripple (XRP) isn’t left out of the party. The cryptocurrency at the heart of the protocol that facilitates cross-border transactions and payments trades on the upside, shrugging off pressure from the recent SEC appeal. Despite rising selling pressure as the US SEC appeals judge Analisa’s $125 million final judgment, it trades on the upside. In the past 7 days, the XRP price increased over 2%, changing hands above $0.54. While it trades downward on the monthly charts—a 6% downswing and a fall from $0.65—a reversal is on the cards. The latest XRP price prediction gaining grounds suggests a weekly close above $0.6. At the current price, Ripple (XRP) is among the best cryptos to invest in, especially with its projected rally above $1 before the year’s end. Toncoin (TON): Eyes $6.0 Next Toncoin (TON), one of the leading players on the altcoin list, charts a bullish course. The Telegram-based cryptocurrency has been one of this year’s biggest highlights, soaring from a little above $2.0 to an all-time high. After several price discoveries this year, the latest Toncoin (TON) all-time high was on June 15. It soared past $8.2 and in its trails were green candles. However, since registering a peak price, there has been a 35% downswing, linked to profit-taking and the arrest of Telegram CEO Pavel Durov. But according to a Toncoin price prediction, its outlook is bullish. On the weekly charts, the Toncoin price is up over 3%, retailing at $5.3. It is on track for a jump above $6.0 in the coming days, placing it on the list of altcoins to watch out for. Moreover, the community believes a rally above $10 is “imminent” before the year’s end. Conclusion Despite the uptick in the prices of Ripple (XRP) and Toncoin (TON), DTX Exchange (DTX) is in the spotlight. It crossed $5.3 million in early funding, inching closer to its highly anticipated debut. As it prepares to reshape the global trading scene, it is a new DeFi project to keep on the radar. Learn more: Buy Presale Visit DTX Website Join The DTX Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

XRP, the sixth largest cryptocurrency by market capitalization, has seen an interesting trend in its transaction activity, despite a few notable declines in other metrics. A recent analysis by a CryptoQuant analyst, Wenry, sheds light on key trends within the XRP ecosystem, offering insights into the activity happening behind the scenes. The analyst particularly revealed where XRP transactions are used by category activity. XRP Transactions: Decline in NFT Activity And Rise in DEX Volume According to Wenry, XRP’s daily transaction volume has been “competitive with major Layer 1 networks,” showing that XRP’s Ledger remains highly active, even though it is less known to retail investors than other blockchain networks. In his analysis posted on the CryptoQuant QuickTake platform, Wenry highlighted that between September 15 and October 15, 2023, the creation of new wallets on the XRP Ledger increased by 10.39%, reaching a total of 18,321 new accounts. However, total transactions on the network fell by 17.57% to 18.82 million, and payments dropped by 26.16% to 6.81 million. Despite these declines, the number of active wallets on XRPL increased by 14.19%, indicating sustained user engagement with the platform. These numbers suggest that while fewer transactions are being processed, the active user base continues to grow. Wenry’s analysis explored on-chain activity related to token trading and decentralized exchange (DEX) volume. While total trades on the XRP Ledger dropped by 6.83%, decentralized exchange volume increased by 17.64%, from $3.91 million to $4.60 million. This shift suggests that despite a slight decrease in overall trading, more activity occurred on decentralized platforms, demonstrating continued interest in decentralized finance (DeFi) solutions on the XRP Ledger. Regarding non-fungible tokens (NFTs), the analysis showed a significant decline in NFT-related activities on the XRPL. NFTokenMint, which tracks new NFTs created on the network, dropped by 70.66%, from 65,021 to 19,076. Similarly, NFTokenAcceptOffer, which represents the acceptance of offers to buy NFTs, fell by 30.88%. Despite these declines, NFTokenCancelOffer, a metric that tracks canceled NFT transactions, slightly increased by 0.20%, indicating that while fewer NFTs were being minted or traded, some stability remained in the broader NFT ecosystem. AMM Liquidity and Increased Participation A key highlight of the analysis was the strong growth in Automated Market Maker (AMM) liquidity on the XRP Ledger. AMM-related metrics saw considerable increases, with AMMDeposit rising by 62.35%, AMMCreate increasing by 143.10%, and AMMWithdraw climbing by 42.97%. These increases reflect rising confidence in the liquidity pools on the XRPL, as more participants provide liquidity and create new pools. The surge in AMMCreate, which jumped from 58 to 141, suggests that more users are participating in liquidity provision on the network. However, one area of decline in AMM-related activity was the AMMBid, which dropped by 81.82%. Despite this decrease, the overall rise in liquidity deposits and the creation of new pools indicate that the XRP Ledger’s decentralized liquidity offerings remain strong. According to Wenry, these metrics highlight the growing trust in existing liquidity pools and the broader AMM ecosystem on the XRP Ledger. Featured image created with DALL-E, Chart from TradingView

After four months of declining transaction volumes from retail investors, Bitcoin (BTC) retail on-chain activity shows signs of resurgence. Will Bitcoin Benefit From Rising Retail Participation? According to a recent analysis by on-chain analytics platform CryptoQuant, BTC transactions worth less than $10,000 are rising, reflecting a shift in the market’s sentiment from risk-averse to risk-on. Tracking transactions under $10,000 helps gauge retail activity. Unlike institutional transactions driven by fundamentals and long-term outlooks, market sentiment and news often influence retail activity. Per the analysis, Bitcoin’s retail demand struggled to rebound after the cryptocurrency’s all-time high (ATH) in March 2024. However, retail demand has surged 13% in the past 30 days with room for further growth. During this same period, BTC gained approximately 7%, rising from $63,142 on September 22 to $67,346 by October 22. Both rising retail on-chain activity and price suggest a potential upside for BTC in Q4 2024. The swift recovery of BTC and other cryptocurrencies following Iran’s offensive against Israel earlier this month also signals a return to risk-on behavior in the digital asset market. It is worth noting that although retail on-chain activity diminished over the last four months, institutional investors continued to maintain “a high amount of transactions and absorption of coins.” The analysis reads in part: Is A Q4 2024 Rally On The Horizon? The return of Bitcoin retail on-chain activity is an encouraging sign that suggests renewed interest among retail investors toward the leading digital asset. However, with the looming US presidential elections, there could be more volatility ahead for BTC price. According to several crypto analysts and trading firms, the likelihood of a crypto Q4 2024 rally hinges on the results of the US presidential elections. Bitwise CIO Matt Hougan recently remarked that “anything other than a Democratic sweep” would benefit BTC propel to $80,000 in Q4 2024. Bitcoin dominance, a metric that measures BTC’s share of the overall crypto market, recently hit 58.9%, a new cycle-high. While this is promising for BTC’s future price, a further surge in dominance could harm altcoins’ performance. As a result, Q4 2024 may bring a new ATH for BTC but muted returns for altcoins. It is also worth considering that the renewed retail demand for digital assets might be geography-specific, and not uniform worldwide. For instance, in South Korea, BTC is trading at slightly lower prices than global prices due to a negative ‘kimchi premium,’ hinting low domestic investor sentiment toward digital assets. BTC trades at $67,346 at press time, down 1.4% in the past 24 hours.

As the US presidential election approaches, the crypto community is buzzing with speculation regarding how the outcome will affect the Bitcoin price. With just 15 days until the election between former President Donald Trump and Vice President Kamala Harris, options traders are increasingly optimistic about a new all-time high for Bitcoin, regardless of who wins the presidency. Traders Favor Call Options Ahead Of US Election According to a recent report from Bloomberg, options traders are placing significant bets that Bitcoin will reach a record high of $80,000 by the end of November. Notably, implied volatility for Bitcoin options, particularly those expiring around the election day, remains elevated. More traders are favoring call options, which give the buyer the right to buy BTC at new highs. David Lawant, head of research at crypto prime broker FalconX, commented, “I believe the market consensus is that Bitcoin is likely to perform well regardless of the election outcome.” His analysis indicates that options activity surrounding the upcoming elections shows a distinct bias toward upside potential. The political landscape features contrasting views regarding the nascent cryptocurrency landscape. Trump, who has been a vocal advocate for digital assets over the past months, is viewed by many as a pro-crypto candidate, leading to the characterization of Bitcoin as a “Trump trade.” On the other hand, Harris has pledged to support a regulatory framework for cryptocurrencies, a shift from the more stringent oversight seen during the Biden administration, characterized by continuous enforcement actions and lawsuits against key players of the sector. Per the report, in addition to political factors, traders are also considering non-political influences such as potential rate cuts by the Federal Reserve (Fed) and ongoing inflation concerns, which contribute to a generally optimistic sentiment. Data Reveals Strong Demand For $80,000 Bitcoin Calls Data from Deribit, a crypto options exchange, reveals a declining put-to-call ratio, indicating that more traders are buying call options than puts as the year draws to a close. Yev Feldman, co-founder of SwapGlobal, elaborated on the current trading patterns seen among investors, stating: “We are seeing traders buying calls near $68,000 and puts near $66,000, suggesting that many are positioning for a breakout in either direction.” Feldman further added that there’s limited reason to expect a downward collapse post-election, making upward movement seem more plausible for the leading crypto of the market. Open interest data also shows that call contracts set to expire on November 29 are heavily concentrated around the $80,000 mark, with the second most popular strike price at $70,000. For contracts expiring on December 27, interest is clustered around $100,000 and $80,000, while the most sought-after strike price for calls expiring on November 8 is $75,000. Interestingly, call options are commanding higher premiums than their put counterparts, according to the skew term structure, which reflects pricing dynamics between these options. “This indicates that investors are leveraging the options market more as a tool for capturing potential upside rather than as a hedge against downside risks,” Lawant explained. The researcher also pointed out that opinions on non-Bitcoin cryptocurrencies remain divided, with less consensus on how these assets might perform under varying electoral scenarios. At the time of writing, BTC was trading at $67,370. Featured image from DALL-E, chart from TradingView.com

Solana struggled to clear the $172 resistance zone. SOL price is correcting gains and might soon test the $162 support zone. SOL price is correcting gains from the $172 resistance zone against the US Dollar. The price is now trading above $162 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could revisit the $162 support zone before the bulls take a stand. Solana Price Eyes Retest of Support Solana price climbed above the $150 and $155 levels. SOL gained pace after there was a close above the $162 resistance level. However, the bears were active near the $172 zone. The price started a downside correction from the $171 high like Bitcoin and Ethereum. There was a move below the $168 level. The price declined below the 50% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high. Besides, there was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair. Solana is now trading above $162 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $168 level. The next major resistance is near the $170 level. The main resistance could be $172. A successful close above the $170 and $172 resistance levels could set the pace for another steady increase. The next key resistance is $180. Any more gains might send the price toward the $188 level. More Losses in SOL? If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 level or the 76.4% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high. The first major support is near the $162 level. A break below the $162 level might send the price toward the $155 zone. If there is a close below the $155 support, the price could decline toward the $150 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $164 and $162. Major Resistance Levels – $168 and $172.

Uniswap, the leading decentralized exchange (DEX) on Ethereum, is building and growing, looking at the number of processed volumes over the years. Uniswap Processes Over $2 Trillion On Ethereum Since launching in late 2018, on-chain data shows that the DEX has processed over $2 trillion in cumulative volume on the Ethereum mainnet. The steady climb in cumulative volume points to Uniswap’s growth over the years and the team’s dedication to ensuring that the platform functions as originally designed. Unlike centralized exchanges like Binance or Coinbase, Uniswap relies on smart contracts for swapping. All transactions are initiated from a non-custodial wallet such as MetaMask, ensuring the holder retains control of all assets. No transaction is approved unless the wallet owner authorizes it. For the unique value proposition Uniswap presents, the platform continues to grow by leaps and bounds. The latest data from DeFiLlama reveals that the DEX manages over $4.9 billion worth of assets. At this level, Uniswap is the sixth largest DeFi protocol, cementing the dominance of Ethereum-based dapps. While users can choose from three protocol versions, the latest iteration, v3, is the largest, managing over $3 billion. Uniswap v3 was the first DEX to introduce concentrated liquidity to improve capital efficiency. Besides v3, users can swap on Uniswap across multiple chains, including the BNB Chain and Avalanche. However, DEX trading via Uniswap is popular on Ethereum, where the exchange manages over $3.9 billion. DeFi Dominance, UNI To $12? As DeFi gains traction and more traders opt to swap trustlessly, Uniswap will likely process even more transactions. Most importantly, the DEX may dominate DEX trading on Ethereum layer-2s, looking at trends. DeFiLlama data reveals that the dapp has a total value locked (TVL) of over $277 million. Considering the role of the DEX on Ethereum and the fact that it is among the biggest contributors of gas fees, UNI could benefit in the coming sessions. From the daily chart, UNI is posting impressive higher highs and approaching a key resistance level. After dumping to $4.7 in early August, the token has almost doubled in valuation and is on the cusp of printing fresh Q4 2024 highs. A break above $8.5 could trigger a wave of demand that may see UNI float to $12.

XRP price is moving lower below the $0.5500 level. The bears might gain strength if there is a close below the $0.5200 support zone. XRP price is correcting gains below the $0.5500 zone. The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if it declines below the $0.5200 support zone. XRP Price Dips Further XRP price struggled to extend gains above the $0.5600 level and started a downside correction, like Bitcoin and Ethereum. There was a move below the $0.5550 and $0.5500 levels. The price even dipped below $0.5320 and tested $0.5290. A low was at $0.5292 and the price is now consolidating losses and trading below the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low. The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5365 level. There is also a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.5440 level. It is close to the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low. The next key resistance could be $0.5520. A clear move above the $0.5520 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5600 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800. More Losses? If XRP fails to clear the $0.5365 resistance zone, it could start another decline. Initial support on the downside is near the $0.5280 level. The next major support is near the $0.5220 level. If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5280 and $0.5220. Major Resistance Levels – $0.5365 and $0.5520.

Ethereum rival ETFSwap (ETFS) takes center stage in the crypto markets amid predictions by a famous veteran crypto analyst that the Shiba Inu price will reach $0.01 and XRP’s price will touch $40 in the forthcoming crypto bull markets. The veteran analyst touts Ethereum’s rival ETFSwap (ETFS) to rally 30,000x and surpass the combined gains of Shiba Inu and XRP price rallies before 2025. Analysts See Shiba Inu Price At $0.01, XRP Price Touching $40, And ETFSwap (ETFS) At $45 In The 2025 Bull Markets Ethereum rival ETFSwap (ETFS) is leading forecasts of analysts who predict Shiba Inu Price at $0.01 and XRP price at $40 in the 2025 crypto bull markets. According to the veteran analyst, Shiba Inu’s price could experience a 60x rally to $0.01 while XRP’s price could surge 45x behind Ethereum’s rival ETFSwsp (ETFS) in the 2025 bull run. Ethereum rival ETFSwap (ETFS) presents a promising investment opportunity for retail crypto investors with its 30,000x rally forecasts to reach $45 from $0.03846 and surpass Shiba Inu price and XRP price rallies before 2025. ETFSwap (ETFS) Set To Rally 30,000x And Surpass Combined Gains Of Shiba Inu And XRP Price Rallies In Q4 2024 Ethereum rival ETFSwap (ETFS), selling for a cheap $0.03846 in its viral ICO presale, is programmed to create millionaires with a 30,000x bullish rally that will outperform Shiba Inu price and XRP price rallies in Q4 2024. Veteran analysts finger Ethereum rival ETFSwap (ETFS) to rally exponentially before 2025 as news of the imminent launch of its groundbreaking DeFi platform, which will drive billion-dollar liquidity from traditional finance sectors, circulates the cryptocurrency industry. Phase one of the ETFSwap (ETFS) groundbreaking beta platform has been launched by the developers on Testnet for final rounds of testing. The backend development of the ETFSwap (ETFS) groundbreaking beta platform has also been completed. ETFSwap (ETFS) is a groundbreaking beta platform with state-of-the-art DeFi features and functionalities. The beta platform will drive billion-dollar liquidity from traditional finance users who can tokenize their real-world assets and trade them on-chain via ETFSwap (ETFS). The ETFSwap (ETFS) beta platform offers quick settlements of users’ tokenized funds. Besides ETFSwap’s (ETFS) next-generation tokenization model, its beta platform will feature various liquidity pools and staking infrastructures that will generate wealth and passive income for ETF staking participants. The beta platform users staking crypto tokens and ETFs on the beta platform will earn staking rewards as much as 87% APR. ETFSwap (ETFS) beta platform users will trade popular exchange-traded funds (ETFs) and pay cheap transaction fees. They will also receive multiple trading discounts for swapping ETFS for institutional grade investments and highly sought-after tokenized ETFs, including Vanguard, bonds, equity, commodity, Ishares, fixed income, spot Bitcoin, spot Ethereum, and market ETFs, among others. ETF traders using the groundbreaking beta platform will enjoy unlimited access to a 100x trading booster that can amplify ROI on tokenized ETFs up to 55,000%. The beta platform will feature a live ETF price tracker that updates traders on ETF market movements.ETFSwap’s (ETFS) robust and user-friendly beta platform will support perpetual contracts trading of memecoins and volatile cryptocurrencies, including Bitcoin, Shiba Inu price futures, and XRP price futures, among many others. The beta platform will provide traders with real-time veteran strategies and resources to boost profitability. The second phase of the ETFSwap (ETFS) beta platform launch will integrate customizable AI-powered tools, such as the ETF tracker, that can gauge the profit potential of exchange-traded funds. ETFSwap (ETFS) has next-level DeFi security features that protect its beta platform from cyber hacks and malware attacks. The CyberScope global security firm has audited the smart contracts of the ETFSwap (ETFS) beta platform and discovered no vulnerabilities. The ETFSwap (ETFS) groundbreaking beta platform developers have also completed KYC with the SolidProof global audit firm. Conclusion Ethereum rival ETFSwap (ETFS) is programmed to bring financial freedom to smart crypto investors by buying its viral presale token selling for a cheap $0.03846. Join the presale fast before the token launch as famous analysts predict a 30,000x surge of ETFS that will outperform Shiba Inu price and XRP price rallies before 2025. For more information about the ETFS presale, Visit ETFSwap Presale Join The ETFSwap Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Ethereum price struggled to continue higher above the $2,750 resistance and corrected gains. ETH is now struggling to start a fresh increase above $2,650. Ethereum started a downside correction below the $2,650 support. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels. Ethereum Price Starts Consolidation Ethereum price started a downside correction from the $2,750 resistance like Bitcoin. ETH traded below the $2,700 and $2,650 support levels to enter a short-term bearish zone. The price traded as low as $2,605 and is currently consolidating losses. There was a minor increase above the $2,620 level. The price traded close to the 23.6% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD. However, the price is struggling to gain bullish momentum. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,700 level. It is close to the 50% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low. A clear move above the $2,700 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,850 level or $2,880. More Downsides In ETH? If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,550 zone. A clear move below the $2,550 support might push the price toward $2,500. Any more losses might send the price toward the $2,440 support level in the near term. The next key support sits at $2,420. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,650

Cardano (ADA) has made a strong comeback, with bulls stepping in to reverse the recent pullback and drive a fresh rally. After a brief period of downward pressure, the cryptocurrency is gaining traction once again, sparking renewed optimism among traders and investors. With positive momentum building, Cardano is showing signs of further upside movement, positioning it for continued gains toward the $0.4233 mark. The question now is whether bulls can sustain this surge and push ADA toward new highs. As the uptick progresses, this article aims to analyze ADA’s recent price movement, with a focus on how the bulls reversed the pullback and sparked a new rally. It will examine the current bullish path, evaluate key support and resistance levels, and explore the potential for sustained upward movement in the near term. Bullish Momentum Returns: How Cardano Reversed The Pullback On the 4-hour chart, Cardano has turned bullish, currently holding its position above the 100-day Simple Moving Average (SMA) printing multiple green candlesticks. As long as the price remains above this level, the bulls will likely maintain control, with the possibility of further gains if the upward trend persists. An analysis of the 4-hour Relative Strength Index (RSI) reveals a notable surge, rising to 63% after previously dipping to 53%. This increase reflects growing bullish momentum, suggesting that buying pressure is gaining strength in the market. While the current level is still below overbought territory, the upward shift in RSI signals increased demand and could pave the way for additional upside. Also, the daily chart shows that Cardano is actively trying to break above the 100-day SMA, a key resistance level. Successfully surpassing this SMA could indicate a stronger optimistic trend and boost investor confidence, attracting more buyers. If ADA clears this resistance, it may lead to a shift in market sentiment and more upward movement. The RSI on the daily chart is currently at 53%, indicating a bullish trend for ADA, as it is above the critical 50% threshold. Typically, this suggests that buying pressure is outpacing selling pressure, reflecting strong momentum and growing trader optimism about ADA’s price potential. Support And Resistance Levels To Watch In The Coming Days On the upside, the $0.4233 resistance level is critical, as a successful breakout above this point could signal a stronger uptrend and draw in more buying interest. Should ADA surpass $0.4233, the next significant resistance to monitor will be at $0.5229. Clearing this level further bolsters bullish pressure, potentially leading to even higher price targets as market sentiment shifts favorably. Meanwhile, on the downside, the first support level to monitor if the bulls are unable to maintain their momentum is $0.3389. A break below this level could result in additional losses, possibly driving the price toward the next support level at $0.2388, which may further extend to lower support zones if selling pressure continues.

Bitcoin price started a downside correction and tested the $66,500 zone. BTC is now consolidating and might aim for a fresh increase above $67,800. Bitcoin struggled to test the $70,000 resistance zone and started a downside correction. The price is trading below $67,500 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with support at $67,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase unless there is a close below the $66,500 zone. Bitcoin Price Starts Consolidation Phase Bitcoin price struggled to continue higher toward the $70,000 level and started a downside correction. There was a move below the $68,500 and $67,500 levels. The price even tested the $66,500 support zone. A low was formed at $66,564 and the price is now consolidating losses. There was a minor increase above the $66,850 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $69,427 swing high to the $66,564 low. Bitcoin price is now trading below $67,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $67,100 level. There is also a short-term contracting triangle forming with support at $67,100 on the hourly chart of the BTC/USD pair. The first key resistance is near the $68,000 level or the 50% Fib retracement level of the downward move from the $69,427 swing high to the $66,564 low. A clear move above the $68,000 resistance might send the price higher. The next key resistance could be $68,500. A close above the $68,500 resistance might initiate more gains. In the stated case, the price could rise and test the $69,200 resistance level. Any more gains might send the price toward the $70,000 resistance level. Another Decline In BTC? If Bitcoin fails to rise above the $67,100 resistance zone, it could start another decline. Immediate support on the downside is near the $66,800 level. The first major support is near the $66,500 level. The next support is now near the $66,200 zone. Any more losses might send the price toward the $65,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $66,800, followed by $66,500. Major Resistance Levels – $67,100, and $68,000.

At press time, Dogecoin was found to have gained significantly as it jumped to $0.141556 following a 1.77% growth that occurred within the last 24 hours. In a week, the meme coin has gone pretty high at a 30% increase which propelled its 24-hour trading volume to $1.9 billion with an upsurge of 35%. Positive Sentiment And Indicators For DOGE Ascent According to market analysts, there are a number of indicators that show it is the right time to invest in DOGE. As observed by Digitalcoinprice, several technical signals have already turned green, indicating traders see brightness in the future of the token. The coin has risen by 37% in the last 30 days. The forecasts hint that the coin might go even higher. One of the strongest indications of the bull trend is the curve of the 50-day Simple Moving Average going upward, which may be a good period for buyers to get in on the action. However, the traders are holding back as the 200-day SMA is going down. As reported by some, DOGE may even go to $0.13 before the year ends. Nevertheless, on the bigger picture, there is still a consensus over the fact that it is still moving in a positive direction for the medium-term trends of the coin. Experts’ Predictions And Influences On Dogecoin’s Future Other high-level cryptocurrency traders also, such as DonAlt, believe that Dogecoin has the makings of being bullish and can potentially exceed the $1 mark. Analysts like Crow see the occasional triangular patterns of Dogecoin in its price chart that reflect phases of consolidation from 2014 to 2021 and can indicate a breakout. Crypto trader Kevin has highlighted a recent 3-day flip in Dogecoin. According to this technical indicator, the cryptocurrency is supposed to trend in the positive direction. In the past, such an indicator resulted in a huge price rally; DOGE had a 210% rally once such a signal appeared. Kevin suggested that if Bitcoin falls into a discovery phase then it’s likely Dogecoin will follow. He also mentioned the upcoming “golden cross” on the weekly chart, which is a bullish signal for DOGE to continue upward. Meanwhile, it’s still Elon Musk that influences these price movements. A passing comment by the “US Department of Government Efficiency” (D.O.G.E) has caused a price surge. Adding to this complexity is his political involvement in recent news. Analysts feel Musk’s overall influence and association with pro-crypto US election candidates such as former US President Donald Trump will aid in an increase in value for DOGE. Featured image from Techopedia, chart from TradingView

The Ethereum price has just broken out of a key symmetrical triangle pattern, signaling a potential surge to new levels above $3,000. The recent breakout is seen as a bullish indicator for the top altcoin by analysts who have closely watched the Ethereum price action for the past few months. Ethereum Price Breaks Out Of Key Triangle Pattern A popular crypto analyst identified as “TheMoonCarl” on X (formerly Twitter) has disclosed that the Ethereum price has finally broken out from its symmetrical triangle pattern. Sharing a chart illustration of the distinctive technical pattern, the analyst revealed to his 1.3 million followers that the symmetrical triangle pattern had begun forming in August 2024, extending through September and October to potentially reach a peak around December. However, before Ethereum could reach this designated endpoint, its price broke through the upper trendline of the triangle, indicating a potential bullish breakout to new highs. A symmetrical triangle is a key technical pattern that often indicates a period of consolidation followed by a breakout to the downside or upside. In Ethereum’s case, its price has been on a major consolidation trend, failing to experience similar price surges seen in Bitcoin and other altcoins. With the now broken triangle pattern, TheMoonCarl is setting new bullish price targets at around $3,400 for Ethereum. At the time of the symmetrical triangle breakout, Ethereum was trading at around $2,707. However, as of writing, the cryptocurrency has declined by 3.15%, pushing its current price to $2,629, according to CoinMarketCap. While the analyst is highly optimistic about his $3,400 Ethereum price projection, the cryptocurrency will still have to see a 29.91% increase to achieve this feat. TH Whales Are On The Move Amidst analysts’ bullish predictions for Ethereum and its recent breakout from a key symmetrical triangle pattern, reports have revealed that large-scale investors, typically referred to as “Whales” are now back in action. Whale Alert, a blockchain tracker and analytics system revealed a series of substantial whale transactions involving the Ethereum token. In the last 24 hours, an Ethereum whale had moved a whopping 12,590 ETH tokens, worth approximately $33.8 million from an unknown wallet to Coinbase. Additionally, in the past few hours, another Ethereum whale had transferred 8,452 ETH tokens valued at $22.4 million from an unknown wallet to Binance. Typically, when whales move coins from their private wallets to a centralized exchange, it often indicates that they may be selling off their tokens. While a full-blown sell-off could cast a shadow on Ethereum’s already slow price momentum, it appears that whales are not only moving ETH to exchanges but also potentially accumulating tokens. Whale Alert has reported that an anonymous whale recently moved 8,811 ETH from Binance to an unknown wallet. These multiple transactions create uncertainty about whether whales are selling more than they are buying. However, with Ethereum’s recent breakout from its symmetrical triangle pattern, bullish momentum could push prices higher, potentially encouraging more buying activity.

After several weeks of sustained upward momentum, Bitcoin is currently holding above $66,000. The price has recently encountered resistance at the crucial $69,000 level, which is expected to take time and significant liquidity to overcome. Key data from Binance reveals that more than half of futures traders have shorted BTC in the past few hours, creating a divisive environment for price action. The futures market often serves as a barometer for momentum and liquidity, signaling potential shifts in Bitcoin’s price movement. As BTC consolidates just below the $69,000 resistance, maintaining support above $66,000, the coming days will be pivotal. Investors and analysts are closely watching to determine whether Bitcoin will break through to new all-time highs or if the accumulation period will continue. The outcome could set the tone for the next phase of the market. Bitcoin Future Traders Remain Bearish (For Now) Bitcoin is currently in a consolidation phase after weeks of impressive price appreciation. Despite this pause, analysts and investors remain optimistic about Bitcoin’s price trajectory in the coming weeks, with many believing that BTC will begin a massive rally once it breaks its all-time highs. However, this breakout may take some time, as key data from Binance indicates bearish sentiment among futures traders. Top analyst and investor Ali Martinez shared the 4-hour long-short ratio on Binance, revealing that 53.71% of futures traders are shorting BTC. This bearish positioning suggests indecision in the market, as traders remain uncertain when Bitcoin will surpass the critical $69,000 level. The ongoing shorting trend could be a temporary barrier to Bitcoin’s momentum. However, the outlook could shift quickly, as spot investors might take advantage of the current dip and start buying Bitcoin. Increased spot buying could provide the liquidity needed to push BTC higher, reversing the bearish sentiment in the futures market. If buying pressure intensifies, Bitcoin could soon challenge and break through the $69,000 resistance, potentially paving the way for a new all-time high. In the short term, investors are closely watching to see whether Bitcoin will consolidate further or gain enough momentum to continue its upward trend. BTC Testing Key Liquidity Levels Bitcoin is trading at $66,800 after facing a rejection from the $69,000 supply level. Despite the pullback, BTC remains strong, holding above the $66,000 mark. This price level is critical, as it will likely determine Bitcoin’s direction in the coming days. Should BTC fail to hold above $66,000, the price could seek liquidity at lower levels, with $64,000 as the next target. This level coincides with the 4-hour 200 moving average (MA) and exponential moving average (EMA), making it a key interest for buyers and sellers. On the other hand, if Bitcoin maintains its position above $66,000, the next likely move will be a renewed challenge of the $69,000 resistance or potentially a push toward $70,000. The coming days will be crucial in deciding whether BTC will resume its upward momentum or face further consolidation around these key levels. Traders and investors are closely watching to see how Bitcoin reacts at the $66,000 support, which could set the stage for the next big move. Featured image from Dall-E, chart from TradingView

London, United Kingdom, October 24th, 2024, Chainwire Peanut launches a beta of the first self-custodial offramp, allowing users to directly cash out any token on 20+ EVM chains to their bank accounts—without relying on centralized exchanges. This beta feature is being rolled out in the EU and US first. This new beta feature creates an important bridge between crypto and fiat. Users can cash out funds from any token on 20+ EVM chains directly in US Dollars or Euros to their bank account, skipping the need for CEXes or other custodied solutions. This works by creating a bridge between the blockchains and fiat payments networks like IBAN, BIC, or SWIFT. Peanut’s key feature is texting funds using QR codes or messengers such as WhatsApp, Telegram, email etc. With the self-custodial offramp, recipients can now transfer their funds directly to their bank account without the need to have a wallet themselves. This breakthrough in crypto accessibility makes transferring money across platforms frictionless and user-friendly. In addition to texting funds without worrying whether the recipient uses crypto or fiat, users of self-custodial wallets can now directly offramp into their bank account without using a CEX. “Texting money is now possible,” said Hugo Montenegro, co-founder of Peanut and a Harvard graduate. “This is a major step toward simplifying crypto for everyday use, meaning you can send stablecoins through channels like WhatsApp, Telegram, Email etc. We use this to pay freelancers all the time.” For the beta launch of this new feature, a discounted fee of $1 + 0.25% applies. The minimum cashout amount is $10. About Peanut Peanut is at the forefront of transforming crypto payments with its innovative fully decentralized self-custodial protocol – Peanut Protocol. It enables seamless, cross-chain and offramping transactions using seamless payment links. The platform allows users to easily send, receive, cross-chain swap and offramp funds to fiat currencies, making crypto more accessible than ever. Peanut’s unique secret-protected vault smart contracts provide top-tier security, ensuring that funds are only released when a private link is shared by the sender. “Anyone can now send funds seamlessly”, said Derek, CTO of Reown. With support for over 20 blockchain networks and plans to expand to Bitcoin and Solana, Peanut Protocol is committed to simplifying the crypto experience for everyone. As a non-custodial, permissionless solution, Peanut empowers users with full control of their digital assets. Leading blockchain projects such as Blockscout, WalletConnect, and Clave Wallet are already leveraging Peanut’s technology to enhance their user experience. For more information, users can visit https://peanut.to/ or contact [email protected] Contact Co-Founder Konrad Urban Squirrel Labs [email protected]

ADA falls from Q1 high of $0.80, struggling to reclaim momentum. Supply wall of 2 billion ADA at $1.04 creates significant resistance. Price targets: potential drop to $0.32, or rise to $0.61 if Bitcoin surges. Cardano’s promising start to 2024, which saw ADA surge from $0.46 to $0.80 in the first quarter, has given way to a prolonged decline. This reversal of fortune has left investors questioning whether ADA can recapture its early-year momentum or revisit its 2022 price levels. A key obstacle to ADA’s price recovery lies in the substantial supply wall at $1.04, where over 1 million addresses hold more than 2 billion ADA tokens. The Global In/Out of Money (GIOM) metric reveals this concentration of holdings creates formidable resistance, potentially capping upward price movement. While shorter-term targets around $0.66 appear achievable, breaking through the $1.04 level presents a significant challenge. Source: IntoTheBlock MDIA provides further Cardano market dynamics The Mean Dollar Invested Age (MDIA) indicator provides additional insight into ADA’s market dynamics. The 90-day MDIA shows a consistent upward trend, suggesting that long-term holders are maintaining their positions rather than actively trading. This stagnation in investor activity typically makes sustained price appreciation more difficult to achieve. Technical analysis of ADA’s daily chart reveals a concerning head-and-shoulders pattern, traditionally interpreted as a bearish reversal signal. Currently trading at $0.37, Cardano faces immediate resistance that could trigger a decline towards $0.32 if current market conditions persist. However, Cardano’s longer-term prospects remain tied to broader market conditions, particularly Bitcoin’s performance. A BTC breakthrough above $70,000 could catalyze an ADA rally towards $0.61, with potential for further gains if Bitcoin establishes new all-time highs.

RWA blockchain Lumia has announced that major cryptocurrency exchange Binance is launching an Earn campaign for LUMIA holders. Through staking on Binance, the endeavor will allow holders of the new LUMIA token to get extra rewards. On October 24 at 9:00 (UTC), the Binance Simple Earn program for LUMIA holders will go live. Holders will earn rewards of up to 19.9% APR if they stake their LUMIA via Binance throughout the campaign. The campaign is scheduled to conclude on March 21, 2025. The APR that LUMIA holders may get will change based on how long they have staked; in order to receive an APR of 6.9%, they must have staked for at least 30 days. For 60 days, this increases to 12.9%, and for customers who stake for at least 90 days in a row, it climbs to 19.9%. During the campaign, Binance users may invest up to 25,000 tokens, with a minimum of 0.1 LUMIA. The purpose of Binance Earn is to enable cryptocurrency users to take part in staking programs and boost their profits. As a result, blockchain communities may keep their preferred assets and get additional rewards in tokens. In Lumia’s chain for RWAs, the LUMIA token performs many crucial roles, including governance and node rewards. Mehmet, Core Contributor at Lumia, said: Following its official support of the Lumia token swap event (TSE), Binance has decided to provide an Earn program for LUMIA holders. This made it simpler for DeFi and Web3 customers to purchase LUMIA and start exploring the advantages of Lumia’s blockchain for tokenized RWAs by enabling the Binance community to easily obtain the new token after the event. Lumia is divided into two parts: Lumia Stream, which is intended to provide liquidity to RWAs that are otherwise illiquid, and Lumia Chain, which is specifically made for RWAs. Lumia Chain is the best platform for institutional and retail tokenization and RWA adoption because it integrates the blockchain technology of the future with sophisticated account abstraction, worldwide compliance capabilities, and more. Then, Lumia Stream injects these tokenized RWA assets—such as real estate, commodities, and art—into the liquid decentralized finance (DeFi) ecosystem by fusing them with conventional digital assets. This creates a novel protocol that opens up new avenues for developers, institutions, and investors. The first next-generation blockchain in the world, Lumia offers a complete solution for real world assets (RWAs) at every stage of their life cycle, including asset tokenization, liquidity aggregation, and access to millions of DeFi and Web3 traders. With deep liquidity, unparalleled capital efficiency, and crucial infrastructure for the future of RWAs, Lumia, the only full cycle RWA chain in the sector, bridges the gap between digital finance and physical assets by facilitating easy on-chain access to tokenized assets.