The layer-2 network processed more transactions than Optimism and Arbitrum combined. Despite the success, the layer-2 network remains behind prominent layer-2 networks. Statistics from blockchain analytics provider BaseScan shows that Layer-2 Network Base broke its previous record for daily transactions, set on launch in August. Base reached 1.88M transactions on September 14, exceeding the earlier record of 1.41M transactions reached on August 21. The layer-2 network processed more transactions than Optimism and Arbitrum combined (878,000) in a single day. Despite the success, the layer-2 network remains behind other, more well-known blockchains like as Polygon and BNB Smart Chain (BSC). On the same day, BSC processed 3.1 million transactions, whereas Polygon processed 2.1 million. Strong Backing by Crypto Community Base did not have as many users as it did on August 21, when it set a new record for the most transactions in a day and also exceeded 136,000 daily active users. Data collected by Dune Analytics on September 14 revealed that Base had just around 86,000 DAUs. On August 9, Base was released to the public, enabling its users to conduct a wide variety of tasks that were previously only possible on layer-2 networks, such as bridging tokens, swapping tokens to create liquidity, minting NFTs, and more. The crypto community as a whole has embraced the network from its debut. More than 268,000 individual wallets on the layer-2 network created over 700,000 NFTs on September 6. More than $242 million in cryptos were transferred using the blockchain in its first two weeks, with 130,000 different wallets making use of it on a daily basis. Highlighted Crypto News Today: TON Joins NFTScan’s Growing Portfolio

Kroll has guaranteed that neither FTX passwords nor KYC information were exposed. FTX has verified that new security mechanisms have been implemented. After a serious cyberattack, FTX has finally fixed its claims site. Kroll, FTX’s third-party agency managing creditor claims, was the planned victim. However, FTX responded quickly, freezing impacted user accounts as a preventative action to guarantee the safety of its customers. Interestingly, a technique known as “SIM swapping” was the root of the security flaw. Information on BlockFi, FTX, and Genesis claimants was compromised in this assault. In spite of this disturbing fact, Kroll has guaranteed that neither FTX passwords nor KYC information were exposed. In addition, FTX has made it known that it plans to improve safety. FTX has verified that new security mechanisms have been implemented now that the portal is live. Users might feel more at ease when using the system. Liquidation Likely In addition to the safety measures, Delaware District Judge John Dorsey’s permission has been drawing a lot of attention. By doing so, FTX may liquidate a significant percentage of its crypto holdings—likely in the billions—to pay back its debtors. A financial adviser is designated in the authorized plan to manage token sales. The result is a weekly limit of $100 million for the vast majority of coins. Token per token basis, the limit might be raised to $200 million. In addition, the U.S. Trustee’s office must be notified 10 days in advance of any Bitcoin or Ether transactions. Additionally, FTX intends to hedge Bitcoin and Ether to protect against the volatile crypto market. This tactical shift has been made to mitigate the effects of price volatility on sales revenues. Highlighted Crypto News Today: Billionaire Investor Mark Cuban’s Crypto Wallet Drained of $870k

Solana’s state compression is the engine behind cNFTs. Hosting NFTs off-chain may have certain advantages, but it also presents some difficulties. As a more affordable and scalable approach to owning digital collectibles, Magic Eden, a marketplace for NFTs, has announced its support for Solana’s compressed NFTs (cNFTs). Compressed and held off-chain, cNFT data is what sets them apart from regular Solana NFTs. Since there are less costs associated with minting them, more may be produced at a cheaper price. Magic Eden claims that this NFTs is best for mass production in the gaming, music, event, and metaverse sectors. The NFT marketplace claims that its platform provides producers with a means to cheaply distribute their works to a larger audience. Boosting NFT Adoption Moreover, the NFT marketplace also thinks it may increase acceptance and offer an “easy access point” for new individuals to try out accumulating NFTs by reducing the expenses required in producing NFTs. Users may invest less of their own money towards collecting NFTs because of the reduced prices, thus increasing adoption. Solana’s state compression is the engine behind cNFTs, enabling the creation of a million NFTs for around $110. The cost of minting cNFTs is far cheaper than the expense of minting NFTs on Ethereum, which may range between $2.9 to over $30 per NFT. Hosting NFTs off-chain may have certain advantages, but it also presents some difficulties. When the FTX cryptocurrency exchange collapsed in 2022. NFTs that had been created on the platform stopped functioning and displayed blank screens. It was noted that the NFTs weren’t housed on the blockchain, but rather on a Web2 API, and cautioned that this choice should be taken into account in the future. Highlighted Crypto News Today: Ethereum Price Striving Hard To Overturn Bearish Momentum

Cuban verified that he had indeed logged into MetaMask for the first time in months. On September 15, a blockchain investigator Wazz initially noticed the exploit. Mark Cuban, billionaire businessman, allegedly had one of his hot wallets emptied of about $870k worth of cryptocurrency. On September 15 at about 8 pm UTC, a blockchain investigator Wazz initially noticed the exploit after drawing attention to unusual activity in one of Cuban’s wallets that he hadn’t used in over five months. Etherscan’s transaction log shows that a large number of tokens were unexpectedly removed from the wallet within a short period of 10 minutes. These tokens included USDC, USDT, and Lido Staked Ether (stETH). Wazz suspected Cuban was merely shuffling funds when he saw that another $2 million in USDC had been withdrawn and transferred to a separate wallet. Waiting to Strike A few hours later, though, Cuban verified that he had indeed logged into MetaMask for the first time in months, and he made some oblique references to the possibility that a hacker had been waiting to strike. Cuban also confirmed that he was the one who transferred $2 million USDC by saying that he had moved any leftover funds to Coinbase Custody. Community users were eager to point out that the hack was probably Cuban’s fault, rather than the result of hackers monitoring his online behavior. Since the funds were sent out of the wallet without going via any intermediaries, some have speculated that Cuban may have signed a malicious transaction by accident, while others have claimed that his private key was hacked. Highlighted Crypto News Today: Ethereum Price Striving Hard To Overturn Bearish Momentum

Telegram has made public its decision to include the crypto wallet Ton Space. If bulls could drive the price above $2.66 level then it will likely rally all the way till $3 mark. After receiving support from the popular messaging platform Telegram, Toncoin has been one of the top performers in recent times. Telegram, a widely used chat service, has made public its decision to include the crypto wallet Ton Space. Toncoin’s price performance has been significantly impacted by the integration with Telegram, which has contributed to the coin’s recent bullish momentum. Significant Price Surge In the last 30 days, Toncoin has increased in value by approximately 50%; during the last week, it has surged by 23%; and over the past 24 hours, it has increased by 13%. The rapid rise in value over such a short time frame is indicative of growing demand and popularity for this cryptocurrency. If the current trend in Toncoin’s price holds, it will likely break the $3 threshold in the near future. Source: CoinMarketCap At the time of writing, TON is trading at $2.22 and is up 13% in the last 24 hours as per data from CMC. Furthermore, the trading volume is up by 102%. The price is trying to break the recent high of $2.23. If it manages to climb over this recent high then it will likely test the $2.66 resistance level. If bulls could drive the price above $2.66 level then it will likely rally all the way till $3 mark. However, if the price slips below $1.95 support level then it will likely test the next support level at $1.63. Despite the overall weak market, the TON price has managed to maintain strong bullish momentum.

Bitcoin has had an eventful week, gaining by over 5% to trade above the $26,000 price. Even following the release of the US Consumer Price Index, which showed an inflation rise of 0.6%, the premier cryptocurrency remained resilient with little to no price drops. As BTC now hovers around the $26,500 price mark, market analysts and crypto enthusiasts continue to speculate on the token’s next movement. Notably, co-founders of market intelligence platform Glassnode Jan Happel and Yan Allemann have plotted a possible path through which Bitcoin may return to $30,000 in the coming weeks. Bitcoin’s Road To $30,000 Marked By Double Price Barriers, Analysts Say Through a post on their shared account on X, known as Negentropic, the Glassnode co-founders stated that Bitcoin is currently targeting a move above $27,000, having reclaimed its support at $26,000 in the past week. According to the analysts, the Bitcoin Risk Index has now dipped into the 60s, indicating there is an ongoing shift to a positive sentiment around the asset. This means that more investors are beginning to view Bitcoin as a favorable investment. If these sentiments translate into buying pressure, Bitcoin could embark on an upward trend. However, the Glassnode co-founders predict the token will face significant resistance at $27,400 and $28,200, as traders could opt to take profit at these price levels. However, the analysts predict BTC will eventually overcome these barriers, pushing through to the $30,000 price mark, which they described as a “psychology barrier.” The last time Bitcoin traded above $30,000 was back in July. Since then, the world’s largest cryptocurrency has seen its price decline by over 17% due to multiple events, most notably, the massive Bitcoin sell-off by aerospace company Space X. Is A Bitcoin Rally Coming? In other news, data from Into The Block shows that Bitcoin’s transaction fees for this week were valued at $6.3 million, representing a 40% increase on the last week. While a rise in transaction fees could represent network congestion, which is known to drive network users away, it could also mean there is a high level of adoption. Furthermore, Into The Block also reported that Bitcoin recorded exchange inflows of $10 million and outflows of $70 million. The high level of Bitcoin being moved off exchanges indicates rising investors’ interest in the cryptocurrency, which could also translate into a notable price gain. However, it is worth stating that these are only predictions and should not be counted as investment advice. At the time of writing, Bitcoin trades at $$26,537 with a 0.33% loss in the last day based on data from CoinMarketCap. The token’s daily trading volume is also down 12.86% and valued at $11.25 billion.

From its low of $1550 on September 12th, ETH has risen briefly. If the price rises above the $1657 resistance level then it will likely rally further. The recent attempt to establish the Ethereum Holesky test network was unsuccessful because of a parameter mismatch. The network is still scheduled for a formal debut soon and will become Ethereum’s biggest test network, with 1.46M validator nodes, twice as large as the primary network. The release of Holesky marks a major stride forward for Ethereum in the shift to ETH 2.0, moving user’s one step closer to a blockchain that is both more scalable and safe. Santiment, an on-chain analytics provider, surprised everyone on September 14, with new information. The twitter post stated that the second-highest daily total of unique addresses transacting on the network had been attained, according to the tracker. On September 14, a massive 1,089,893 distinct wallets sent or received ETH on the Ethereum network, the second biggest figure in the asset’s over 8 year of existence. As a result of this unprecedented occurrence, prices may now be ready to recover. Transaction Volume Declines From its low of $1550 on September 12th, ETH has risen briefly indicating a change in momentum. At the time of writing, the price of ETH is $1635 and is up 0.56% in the last 24 hours as per data from CMC. The volume is down 8.26% indicating that investors and traders are staying away for the time being, waiting for a clear indication. Source: CoinMarketCap If the price rises above the $1657 resistance level then it will likely rally all the way till $1737. On the other hand, if the ETH price falls below $1542 then a fresh decline is on the cards. It will then likely test the $1434 support level.

Base, the Coinbase-incubated Ethereum layer 2 (L2) network, has seen rising adoption since opening its door to the public barely a month ago. While the blockchain platform has gained significant traction, its pool of users and protocols has also witnessed substantial expansion. In a testament to this rapid growth, Base recently registered its highest number of transactions in a single day. Base Network Records Massive On-Chain Activity In One Day According to data from IntoTheBlock, Base has seen its daily transactions soar to a new all-time high. The blockchain platform registered a total of 1.88 million transactions on Thursday, September 14. Lucas Outumuro, head of research at IntoTheBlock, revealed that Base recorded more transactions than the sum of Arbitrum and Optimism transactions (780,000 and 370,000, respectively) on the same day. The network fees is another metric that reflects the apparent surge in Base’s on-chain activity in recent days. Data from TokenTerminal showed that the blockchain generated more network fees than Arbitrum and Optimism. Furthermore, Base notched its peak transaction throughput in the past week. According to L2beat, the network recorded a significant 21.29 transactions per second (TPS) on Thursday, September 14. This figure placed Base above other L2 chains and Ethereum in terms of transaction throughput. Nevertheless, the network remains in the top spot, with a current TPS of 19.58. These feats underscore the positive performance of the Coinbase-incubated network in the past few weeks. Base has managed to stake a strong claim for a place amongst the top L2 blockchains, as demonstrated by its surging on-chain activity. However, it is worth noting that Base still lags behind Arbitrum and Optimism regarding total value locked (TVL). According to DefiLlama, Base has a TVL of nearly $373 million, while Arbitrum and Optimism boast roughly $1.7 billion and $650 million, respectively. What’s Behind This Latest On-Chain Activity Surge? The latest surge in on-chain activity on the Base network has been linked primarily to the renewed hype of the decentralized social network, Friend.tech. IntoTheBlock made this connection in a report, saying, “Interestingly, it is not DeFi applications nor NFT marketplaces driving the surge in Base’s activity. Instead, a significant portion of usage can be attributed to a new social application, FriendTech.” Friend.tech is a decentralized social media platform built on Base. It allows users to trade “keys” of X (formerly Twitter) accounts and interact with social media personalities in a closed, group chat format. The Friend.tech platform, once pronounced dead by critics, sprung back to life in the past week. The decentralized application seems to be enjoying renewed user interest, with its TVL surpassing $30 million in the last few days. Friend.tech has been experiencing an uptick in activity, shattering its trading volume record two days in a row. Meanwhile, the platform has seen an increase in capture fees, which reached an all-time high of about $2 million on September 14.

It has been a year since the Merge took place, and as expected, the world’s second largest cryptocurrency, Ethereum, has experienced many changes since then. What are some of them? Let’s take a look. One Year In: How Has Ethereum Changed? According to a prominent figure in the Ethereum community, Sassal, 980,000 ETH have been burned since Ethereum transitioned from a proof-of-work (PoW) consensus to proof-of-stake (PoS). Ahead of the Merge, Ethereum had implemented a significant upgrade known as the London hard fork. This introduced a fee-burning mechanism with transaction base fees being burned immediately after a transaction is processed. This move was geared towards making Ether deflationary, considering that some tokens are removed permanently from circulation. Ethereum supply is down by 0.25% since the Merge took place. Furthermore, the Merge resulted in the network being secured by validators who stake their ETH as against Miners, who were the backbone of the network under the PoW consensus. In line with this, over 11.6 million ETH (since the Merge) has been staked to secure the network and also earn passive income in return. The top stakers include the staking platform Lido DAO which has a market share of 22.64%, according to data from Dune Analytics. Other top stakers include exchanges like Coinbase, Binance, and Kraken. Meanwhile, the number of validators on the network has significantly increased since the Merge, with 362,000 new validators joining the network. Down In Valuation But Not Value Ethereum’s price has increased by close to 11% from a year ago. However, many may consider this insignificant for a token that hit an all-time high of $4,891 the previous year. Nevertheless, there are positives to take from the Merge, as Ethereum has undoubtedly become more valuable since it occurred despite the current bear market woes. A crypto analyst noted that ETH’s annual inflation rate has decreased since the Merge, and trading activity on Ethereum’s layer-2 chains has also increased significantly. That would suggest that more people are being onboarded into the Ethereum ecosystem. According to him, Ethereum’s fundamentals are also at an all-time high, as there are factors that show that the ecosystem is stable and healthy. One of them happens to be the fact that traditional financial (TradFi) institutions are taking an interest in ETH. Cathie Wood’s ARK Invest recently filed to offer an Ethereum Spot ETF (a first of its kind). This is alongside other institutions that have filed to offer an Ethereum futures ETF (of which ARK Invest happens to be among them). Featured image from WAYA Media

The Web3 space is hinting at its entry into a decade of bullish transformation, evolving from being perceived as a mere buzzword to an innovation with higher utility. Key players in the industry are aiming to turbocharge the expansion and adoption of this revolutionary iteration of the Internet. TheNewsCrypto sat down with Sebastian Zilliacus, Managing Director at EMURGO, discussing the pivotal role of Cardano Spot in driving Web3 adoption. He shares exclusive insights on Cardano’s unique approach to interoperability, and how EMURGO fosters blockchain education and community engagement. Sebastian Zilliacus, MD of EMURGO with Nitin Gupta, Lead Strategist of TheNewsCrypto In your view, how far has Web3 progressed as the next frontier of the internet? Can you highlight the role of Cardano in boosting Web3 adoption? Sebastian Zilliacus (SZ): Web3 represents the vision of a decentralized internet, offering users unprecedented control over their online experiences. It champions ownership, censorship resistance, and the elimination of intermediaries in various applications and services. The journey of Web3 began approximately six years ago, gaining momentum alongside the emergence of decentralized applications (DApps). This space has evolved significantly, with tens of thousands of DApps transforming numerous sectors, including payments, exchanges, lending, banking, financial services, art, music, gaming, and even distributed physical infrastructure. Decentralized exchanges (DEXs) have facilitated trillions of dollars in transactions. At the same time, lending and borrowing protocols have enabled hundreds of billions of dollars in loans without the need for traditional underwriting banks. The Web3 ecosystem now boasts over 10 million monthly active users, showcasing remarkable growth. In this exciting landscape, Cardano stands out as a formidable contributor to the advancement of Web3 adoption. Cardano offers a secure and appealing platform for developing applications, mainly drawing interest from enterprises and security-focused users. Notable projects like Book.io and Nucast leverage Cardano’s infrastructure to tokenize physical items like books and music as NFTs, broadening the potential user base and use cases. Furthermore, Cardano is committed to addressing real-world challenges in developing countries across Asia and Africa. Initiatives such as World Mobile’s distributed local internet and Empowa’s rent-to-own property solutions exemplify Cardano’s dedication to empowering underserved populations with transformative opportunities. Cardano’s approach to solving real-world problems sets it apart from the broader crypto ecosystem. In summary, Web3 has made significant strides, with countless DApps reshaping industries and attracting a growing user base. Cardano’s role in this transformation is noteworthy, providing a secure and versatile platform for developers, fostering inclusivity through projects targeting developing regions, and demonstrating a unique approach within the crypto landscape. Together, Web3 and Cardano are forging the path toward a decentralized and empowered digital future. How is Cardano Spot designed to enhance community engagement and foster collaboration among ecosystem participants? SZ: Cardano Spot is the first all-in-one social media platform for everything Cardano. Here Cardano fans and supporters come together. It’s designed to make it easy for people to find out what’s happening with Cardano and learn about it. Not only do web3 individuals highly value our product but we are also helping web2 businesses and individuals to join their web3 journey with us by sharing the knowledge and expertise about Cardano. Talking about Cardano Spot as a product we have a bunch of valuable among the community features. Community Hub Page is one of them: here people from all over the world can talk about Cardano, they can share their thoughts, and ideas, and get to know each other. We also have a News Feed Page — a place where you can read deep-dive articles, the latest reports, interviews, and updates to know more about the ecosystem. We’ve gathered here guides, and tutorials to help you understand Cardano better. We also believe in being inclusive, which means we welcome everyone. We celebrate the different projects within the Cardano Library Page and the ideas around it. We don’t just show these Cardano projects, we make them stand out so that people can see and support them. We appreciate and recognize those who contribute, whether it’s by writing code like Cardano developers, creating an article like Cardano creators, leaving a message in a Community Hub or just being enthusiastic. Every little bit helps. We also create opportunities for people to work together. We organize events like meet and greet sessions, Twitter spaces, Live streams, and AMAs. We are looking for partnerships, and are happy to encourage new ideas within the community. In short, Cardano Spot is a place where everyone can come to learn, share, and be part of the Cardano community. We’re here to make Cardano better and more accessible to everyone. For those who are familiar with Web3 and for the people who are only getting acquainted with it. How distinct is Cardano’s approach to interoperability, incorporating solutions like cross-chain communication protocols and blockchain bridges? SZ: Cardano’s vision of interoperability goes beyond technical solutions. It’s about creating an open and inclusive blockchain ecosystem where diverse networks can seamlessly interact and cooperate. For blockchain technology to reach its full potential, it must harmoniously integrate with other networks and assets. Its unique approach involves the development of cross-chain communication protocols and blockchain bridges. These mechanisms act as vital connectors, enabling the smooth flow of assets, data, and information across different blockchain networks. Moreover, Cardano is deeply committed to open standards and collaboration within the blockchain space. We actively engage with other projects and platforms, aiming to establish universal standards that enhance interoperability. This collaborative approach is positioning Cardano as a driving force in advancing interoperability within the blockchain sphere. Elliptic Curve Cryptography (ECC) has emerged as the predominant choice for crafting cryptographic protocols and ensuring the security of applications. ECC offers a comparable level of security to alternative methods but excels in efficiency by employing shorter keys and signatures. Within the realm of elliptic curves, one notable curve is Standards for Efficient Cryptography (SECP), with SECP256k1 being a prominent example. This curve is widely adopted by various blockchains, including Bitcoin, Ethereum, and Binance Chain, to implement public key cryptography. This involves the use of a key pair, consisting of a public key and a private key, to authenticate transaction signatures. Following the integration of new cryptographic primitives, Plutus will gain the capability to seamlessly validate transactions from other blockchains using the Elliptic Curve Digital Signature Algorithm (ECDSA) and Schnorr standards. Meanwhile, the Milkomeda protocol offers EVM compatibility on Cardano. Lastly, I would add that interoperability is an industry-wide objective, not only a Cardano objective. What challenges has Cardano faced while integrating Web3 projects, and how has EMURGO contributed to overcoming them? SZ: Many Web3 projects demand a profound understanding of Cardano’s capabilities and potential. EMURGO has taken significant steps in educating newbies, developers, traders, enthusiasts, etc. about Cardano’s strengths and possibilities within the Web3 ecosystem. Additionally, the integration of Web3 projects often presents intricate technical challenges, so EMURGO’s blockchain expertise has proven invaluable in offering technical guidance and aiding project teams, ensuring a seamless integration process. Equally crucial both for EMURGO and Cardano Spot is the establishment of a collaborative and supportive community for successful Web3 integrations. Our dedication to community engagement has nurtured a sense of cohesion among diverse projects, fostering collaboration and the sharing of knowledge. What I would also like to highlight is that EMURGO’s investments are strategically spread across various domains within the blockchain and crypto space. Firstly, we actively support and invest in projects within the Cardano ecosystem, promoting growth and innovation. These investments fuel the development of decentralized applications (DApps), DeFi solutions, and NFT platforms, enriching Cardano’s ecosystem. Beyond Cardano, EMURGO looks to the broader blockchain landscape. We seek opportunities in projects transitioning from Web2 to Web3, which harness blockchain technology to revolutionize industries. We are open to investments in projects from other blockchain networks, emphasizing the importance of cross-chain interoperability and collaboration. By diversifying the investments, EMURGO contributes to the overall advancement of blockchain technology and its adoption across various sectors, accelerating the shift toward a decentralized future. Right education aids in propelling adoption, and EMURGO aligns with this goal. How effective are Web3 players, including EMURGO, in educating the community about blockchain technology to drive adoption? SZ: The effectiveness of Web3 players in educating the community about blockchain technology can vary. At Cardano Spot, we have a community-centric approach that focuses on content quality, accessibility, engagement, and continuous improvement. We aim to achieve the mission of promoting blockchain adoption through education. We focus on creating a global community hub by localizing our content. We collaborate with Cardano native projects, educational platforms, and media businesses, providing awareness efforts. We hold hackathons and several content competitions, including tracking the number of participants, the knowledge gained, and the practical applications of blockchain technology by the community. Moreover, EMURGO Academy has already been educating developers and decentralized finance (DeFi) professionals. The Academy offers the Cardano Solutions Architect (CSA) program for emerging developers. This program empowers developers to brainstorm, design, and create potential commercial applications for their startup ventures. Expanding upon the foundation provided by the Cardano Developer Professional program, this initiative centers on an in-depth exploration of use-case analysis, token economics, and related concepts. As the Managing Director of the Media Division at EMURGO, could you provide insight into upcoming EMURGO and Cardano collaborative projects or initiatives? SZ: At the moment we are heavily involved in the decentralization of Cardano. Voltaire is the final building era of the Cardano roadmap. From the beginning, Cardano’s development has been divided into several eras with each focusing on a different part of its technology. The Voltaire era deals with its governance by the community and decentralization of the network. The first steps in the discussion about Cardano’s future governance are underway with the community as the focus with support from EMURGO, Input Output Global, and Cardano Foundation through CIP-1694 workshops, constitution, and liquid democracy. Intersect was recently launched, which is the Cardano MBO. Once Voltaire is in motion, the Cardano community will go from a passive watcher to an active entity when it comes to decision-making and steering of Cardano as a whole. The network will have a first-of-its-kind blockchain constitution meant to transparently and fairly rule over a decentralized network of community members. What are the upcoming big plans that are exclusive to Cardano? SZ: Certainly, when we look ahead to the next decade, Cardano’s future unfolds with a comprehensive vision spanning various dimensions. A pivotal facet of this vision is the drive for mass adoption. Over the next ten years, Cardano seeks to position itself as a global financial and social operating system, serving individuals, businesses, governments, and institutions on a global scale. One of the defining elements of Cardano’s future is the dynamic growth of DeFi and its transformative influence on finance. We anticipate a wave of innovation and expansion in the DeFi arena within the Cardano ecosystem, making financial services more accessible and inclusive for all. The integration of smart contracts into Cardano’s framework will open up a world of possibilities, nurturing a vibrant ecosystem of DApps spanning diverse sectors. From financial services to healthcare, supply chain management to entertainment, smart contracts will revolutionize interactions and transactions. In the coming years, we anticipate forging deeper partnerships with governments, educational institutions, and enterprises worldwide, fostering collaborative research, development, and real-world applications. Educational and research initiatives will empower the next generation of blockchain developers and researchers, bolstering the ecosystem’s strength. Community expansion will remain a central theme, with community-driven projects and initiatives driving innovation and outreach. Lastly, Cardano’s dedication to social impact projects remains unwavering. These endeavors will continue to address real-world challenges in areas such as identity management, voting systems, and supply chain transparency. What advice will you give emerging projects for effectively building a strong community? SZ: As an emerging project looking to establish a robust community, there are several key principles to consider. Firstly, transparency in their project’s roadmap is essential. Clearly articulating their objectives, milestones, and the path they plan to take instills trust and confidence in a community. It shows them that they have a well-thought-out plan and are committed to achieving the goals. Secondly, authenticity. Their intentions should be sincere, and their actions should be aligned with their words. Authenticity resonates with people and helps build a community of supporters who genuinely believe in their project. Thirdly, we advise engaging the community across various platforms and mediums. In today’s digital age, communication is multifaceted. Utilizing different channels to reach a broader audience and connect with the community is essential. Lastly, it’s crucial to understand the broader culture of the crypto and blockchain space, as well as the specific subcultures within it. Different communities may have distinct preferences, values, and expectations. Being culturally aware allows us to tailor the approach and engage with these communities more meaningfully. Disclaimer: The information provided in this interview article is for informational purposes only. It is not intended to be, nor should it be construed as, investment advice, financial guidance, or a recommendation to make any specific decisions. Readers are encouraged to conduct their own research.

Toncoin has seen a noteworthy 20% price increase over the past week, rising from $1.75 on September 9 to $1.95 on September 15, 2023. With a current market valuation of $6.72 billion, this rise has elevated the altcoin to the No. 22 position. Within the cryptocurrency arena, there’s an unmistakable buzz among market participants as they eagerly seek out the next standout digital asset. This quest is leading to a fascinating shift in the top 20 rankings, as a fresh wave of cryptocurrencies enters the fray. While established tokens appear to be caught in a somewhat static trading pattern, a select group of digital currencies is demonstrating remarkable resilience and assertiveness, positioning themselves as formidable contenders capable of potentially supplanting their more renowned counterparts. Notably, Toncoin (TON) has emerged as a front-runner in this battle for prominence, boasting a noteworthy surge of over 50% in value over the last 30 days. Increased Momentum For Toncoin The significant price increase in such a short period of time implies increased momentum and interest in this coin. If Toncoin can sustain its steady ascent, it should be able to hit the vaunted $3 mark this weekend or in the coming days. Meanwhile, the current market sentiment is predominantly bearish, marked by a general consolidation within a constrained price range. Recent price declines have somewhat subdued earlier optimism. However, Toncoin has managed to attract positive attention in the face of these conditions. It’s worth noting that there might be a short-lived negative correction anticipated after the coin breached the $2 mark. At the time of writing, TON was trading at $2.14, up 12% in the last 24 hours and climbed by an impressive 20% in the last seven days, data from crypto market tracker Coingecko shows. A notable factor contributing to Toncoin’s price surge is its remarkable trading volume. In the last 24 hours alone, Toncoin recorded a trading volume of $27 million, surpassing its 20-day average volume of $19 million by a significant margin. TON Banks On Increased Trading Volume An increase in trade volume is indicative of growing interest in and use of a cryptocurrency. The increased number of TON buyers and sellers has led to better market transparency and more efficient price formation. Recent high trading volume has provided the necessary impetus to drive the token’s price higher. On September 14, the Toncoin Foundation and Telegram jointly announced the introduction of TON Space, a novel cryptocurrency wallet designed specifically for Telegram users. TON Space facilitates connectivity to The Open Network ecosystem, which is overseen by the native token of Toncoin. With this move, Telegram hopes to add more than 30% of its users by 2028. It’s interesting that around 700 million people use the leading messaging app for cryptocurrency fans every month. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from GetBlock.net

Ethereum might be the king of smart contracts and the world’s primary hub for decentralized finance (DeFi) and non-fungible tokens (NFTs) activity but onchain data suggests that Bitcoin is ahead in user engagement, interpreted by the number of daily active users, and network activity is at acceptable, healthy levels, reading from the number of daily transactions confirmed. Bitcoin Leads Ethereum In Daily Active Addresses According to Artemis Terminal data on September 15, Bitcoin, despite being predominantly a transactional layer, enabling the peer-to-peer (P2P) transfer of value between addresses, has more daily active users than Ethereum. This observation is even as Ethereum serves as a conduit of value since assets can be moved, just like in Bitcoin, and a smart contract platform for deploying trustless and automated decentralized applications (dapps). Some, like Uniswap, a decentralized exchange (DEX), process billions worth of transactions every month. On September 15, Bitcoin had over 800,000 daily active addresses (DAA), more than twice those in Ethereum, which stood at slightly over 378,000. The only time there was a slight change was on September 13, when over 1 million addresses were activated on Ethereum. Then, the number of DAA on Bitcoin also fell to around 743,000. However, the DAA on Ethereum has fallen sharply while Bitcoin has maintained an upward trajectory since late August. During this time, Ethereum’s DAA has been fluctuating heavily, as evidenced by the rise and fall on Sep 13 and through to today. Ethereum Processes Over 1 Million Transactions Everyday Ethereum shines in the number of daily transactions processed. When writing on September 15, the smart contract platform had processed over 1 million transactions while Bitcoin lagged, confirming less than 600,000. Even at this level, Ethereum has processed less than half of what it did on September 13, when the network processed over 2.3 million transactions. On the other hand, Bitcoin’s daily transactions have been steady, while those of Ethereum have, on average, risen over the past three months, as Artemis Terminal data shows. DAA and daily transaction count are important metrics that on-chain analysts use to analyze the level of engagement and health of public blockchains. Over the past 18 months, activity has rapidly shrunk as asset prices fall in the crypto winter. Ethereum’s drop from around $5,000 in late November 2021 to as low as $1,500 in 2022 weighed negatively on DeFi and NFT activity. According to DeFiLlama, the total value locked (TVL) of DeFi protocols has stabilized below $50 billion, down from around $180 billion in 2021. Meanwhile, trading volume has crashed by over 90%, dragging the value of NFT-related projects, including Immutable X and ApeCoin. To illustrate, APE is down 96% from peaks.

In a Friday 15 court filing, Gemini, the US-based crypto exchange platform, has accused Digital Currency Group (DCG) of engaging in “fraudulent activities” and attempting to evade responsibility for the harm caused to creditors. The filing directly responds to a statement made by DCG regarding a proposed agreement between DCG, the debtors, and the Official Committee of Unsecured Creditors. Gemini Seeks Justice For Creditors Affected By The Collapse Of Genesis According to Gemini, DCG devised a $1.1 billion promissory note to conceal the significant financial losses caused by the collapse of Three Arrows Capital (3AC). However, DCG allegedly kept the actual terms of the note “hidden,” leading to misleading representations to Gemini’s creditors. Furthermore, the company claims that DCG borrowed a substantial amount of Bitcoin (BTC) from the company instead of providing much-needed capital. Gemini also highlights that DCG is now unwilling to repay the more than $630 million it borrowed from the company, which was due several months ago in May. In response, as reported by NewsBTC, DCG has proposed a deal that would require Genesis creditors, including Gemini, to extend years of credit to DCG. However, Gemini intends to fight against this proposal, asserting that DCG should pay creditors a just and adequate amount. Gemini argues that DCG has attempted to “wear down” creditors over the past ten months, hoping they would settle for a significant reduction in the amount owed. According to the court filing, Gemini is determined not to succumb to these tactics and will continue to pursue a fair resolution. Rejection Of DCG’s Proposed Recovery Rates In the filing, Gemini criticizes DCG’s proposed recovery rates, claiming they are “misleading and deceptive.” The company argues that receiving fractional shares of interest and principal payments over seven years from a risky counterparty is not equivalent to receiving the actual cash and digital assets owned by Genesis. Gemini demands that DCG significantly improve the terms of the loans it provides if it wishes to gain the support of the harmed individuals. Overall, Gemini accuses DCG of being the architect of its subsidiary’s insolvency and “sacrificing” the exchange and its creditors to shield itself from liability. The company founded by the Winklevoss twins asserts that DCG’s delay tactics have hindered progress in distributing funds to Gemini Lenders, despite Gemini’s offer of a $100 million premium for a swift resolution. It is worth noting that the court filing by Gemini comes after months of negotiations with the crypto lender and DCG and the collapse of the Gemini Earn program, which resulted in lawsuits and severed ties between Digital Currency Group and the crypto exchange. Featured image from iStock, chart from TradingView.com

The EOW is considering sending a team to Mumbai to question him in person. STA relied on bringing in new investors via a multi-level marketing scheme. Bollywood actor of India Govinda is under investigation for his participation in a bogus crypto scheme by the Economic Offences Wing (EOW) of the Odisha police. In July, Govinda was in Goa for a promotional event for Solar Techno Alliance (STA-Token), a cryptocurrency-looking MLM scam. To further understand Govinda’s involvement in STA’s lavish celebration, the EOW is considering sending a team to Mumbai to question him in person. According to reports, the actor had a prominent part in the company’s marketing campaigns, appearing in videos and other promotional materials. Investigation Underway Further inquiry will reveal Govinda’s precise participation in the crypto fraud, and he may be deemed a witness in the current case, according to Deputy Superintendent of Police Sasmita Sahoo. Moreover, the actor denied in an interview with TOI that he had anything to do with the crypto Ponzi scheme that the Economic Offences Wing (EOW) of the Odisha police are looking into. The EOW team will be flying to Mumbai to question the actor about his alleged involvement in the crypto fraud. Govinda has denied these claims by saying he has never done any advertising, endorsements, promotions, or public appearances on behalf of anybody or anything. He stressed that he was not on anyone’s side or favour in these topics. Gurtej Singh Sidhu, a 40-year-old man from Punjab, was detained by the EOW last month after they found the fraudulent cryptocurrency operation conducted by STA. To keep going, unlike actual cryptocurrencies, STA relied on bringing in new investors via a multi-level marketing scheme. Highlighted Crypto News Today: Bitcoin Surges Above $26,500: Can Bulls Propel Prices Further?

If Tesla starts accepting BTC payment again then it will definitely boost Bitcoin price. The amount of Bitcoin mining energy originating from renewable sources has surpassed 50%. It seems that the criteria set by Elon Musk in 2021, that miners must use around 50% renewable energy sources “with positive future trend,” has been reached. The amount of Bitcoin mining energy originating from renewable sources has surpassed 50%, according to Bloomberg analyst Jamie Coutts, who posted the news in a thread on Twitter on September 14. He attributed this to “falling emissions plus a dramatically rising hash rate.” Coutts claims that the movement toward renewable energy sources is due to miners leaving China because of the country’s mining prohibition in 2021, and that other countries have turned to mining to “monetize stranded and excess energy.” El Salvador, which has accepted Bitcoin as legal cash since 2021, is just one of many countries that have made significant investments in Bitcoin mining alongside Bhutan, Oman, and the UAE. All Eyes on Musk Elon Musk, CEO of Tesla, earlier made the announcement that the company will no longer accept Bitcoin (BTC) payments beginning in May 2021. He cited the bitcoin mining and transactions usage of fossil fuels as the reason for the decision. The CEO of Tesla has not made any public announcements yet on the resumption of BTC payments. If Tesla starts accepting BTC payment again then it will definitely boost Bitcoin price. At the time of writing bitcoin is trading at $26,425 and is down 0.82% in the last 24 hours as per data from CMC. Highlighted Crypto News Today: Ethereum (ETH) Price Recovery Hints at Bearish Exhaustion

Since its inception, Ethereum has continuously been compared to Bitcoin with the former being hailed as a better option to the latter in some cases. As the years have flown by, the competition has gotten even fiercer, especially with ETH growing rapidly. Eventually, Ethereum seems to be catching up with Bitcoin, especially in terms of active addresses. Ethereum Active Addresses Surpass Bitcoin On Thursday, September 14, on-chain data tracker Santiment revealed a surprising update on the fierce rivalry between Bitcoin and Ethereum. In the X post, the tracker revealed that the number of unique addresses that were transaction on the network had reached its second-highest daily figure of all time. While this is significant on the part of the blockchain alone, it is also significant in terms of the competition between the two largest assets in the space. To put this in perspective, the 1,089,893 figure reported by Santiment puts Ethereum ahead of Bitcoin in terms of this metric alone. The last time that the daily unique active addresses on the network hit its new all-time high was back in December 2022. So it has been almost a year since the metric was this high, suggesting a unique driving factor behind it. This report is also in line with the report from Artemis Terminal that shows that Ethereum was right in front of Bitcoin in terms of daily active addresses. Artemis reports that on September 13, Ethereum saw a total of 1.03 million daily addresses compared to Bitcoin’s 743,800 addresses in the same time period. However, this figure has since retracted and Bitcoin has pulled in front of Ethereum once more as of September 14. What Does This Mean? While Ethereum’s surge on Wednesday was impressive, it does not mean much since the network has been unable to sustain the growth. Also, the surge could be easily explained by the rise in the popularity of the Friend.Tech decentralized finance social media platform based on the Ethereum blockchain. Friend.Tech had seemingly come back from the death to reach a new all-time high in its number of daily users. Since an ETH address is required to participate in the platform, it is no surprise there was an uptick in the number of ETH addresses active on the network. The spike in the number of daily active addresses also seems to have had little impact on the price of the cryptocurrency itself. ETH’s price is still struggling to hold above $1,600, with small gains of 0.35% in the last day and losses of 1.15% in the last week.

Binance crypto exchange announced in late August that it is moving to end support for its beloved BUSD stablecoin. This move comes amid the stablecoin’s run-in with regulators, leading to a halt in its production. And now, the exchange has started moving to begin the end of support for the stablecoin. Binance Starts Burning Tokens Binance took to its official X (formerly Twitter) account on Thursday, September 14, to announce that it would begin burning a number of Binance-pegged tokens. Among the five tokens listed to be burned, four were BUSD tokens across different blockchains. According to the announcement, the Binance-pegged tokens would be burned on the listed blockchains, and then the exchange would release the equivalent amount of tokens that were initially used as collateral on their native networks. The BUSD tokens listed across four networks include BUSD on the Polygon (MATIC) network, BUSD on the Tron (TRX) network, BUSD on BSC, and BUSD (BNB). In addition to these, the exchange also revealed that the TUSDOLD on BSC would be burned as well, making it the only token on this list that is not BUSD. The collateral in this case will be the equivalent of the Binance-pegged tokens that are burned. So if 1,000 BUSD on the MATIC network is burned, then the equivalent on the native blockchain will be released by the exchange. Fire In The BUSD Camp The BUSD stablecoin first came under fire in early 2023 when the United States Securities and Exchange Commission (SEC) issued a Wells Notice to issuer Paxos alleging that the stablecoin was an unregistered security. The regulator, through this, made its intention to pursue legal action known. Following the move by the SEC, the New York State Department of Financial Services (NYDFS) asked the issuer to stop printing new tokens. The NYDFS’s concern mainly bordered on Paxos’ relationship with Binance, and eventually, the BUSD issuer decided to cut ties with the crypto exchange. Since the initial move by regulators, the stablecoin has suffered in terms of usage and market cap. The stablecoin which was once a top 10 crypto by market cap has since seen its market cap decline to $2.5 billion, making it the 26-largest cryptocurrency as of the time of this writing. Binance has also announced plans to stop offering support for the stablecoin completely by 2024. Paxos also revealed that it will cease all BUSD redemptions in February 2024, and Binance’s complete withdrawal is expected to come shortly after this. Nevertheless, the stablecoin continues to maintain its dollar peg quite well. It is still trading at a 1:1 parity with the United States dollar and has rarely dipped below $1 amid the regulatory storm.

Justin Sun led Huobi crypto exchange has rebranded itself as HTX. TRX has lately pushed over $0.082 after finding support at $0.073. Throughout most of 2023, Justin Sun’s TRON blockchain has been doing well. The astounding uptick in transaction activity for a project that just debuted six years ago demonstrates the growing natural demand for the TRX cryptocurrency. Tron’s quick growth over a short period of time is reflected in the fact that it can perform an astounding average of over 4.8 million transactions per day, according to statistics from a recent Nansen analysis. On the other hand, Justin Sun led Huobi crypto exchange has decided to rebrand itself as HTX in a surprising move to commemorate the company’s tenth anniversary. Huobi made the announcement of the rebranding on September 13. Before making the news public, Huobi modified its social media pages to reflect the shift. The new Twitter account for the exchange and the official Telegram group have both been published. Users on social media were quick to point out that Huobi’s new name was too close to that of the defunct FTX exchange. Bulls in Control The TRX price has increased by 1.16 percent in the previous 24 hours and is presently trading at $0.084 as per data from CMC. Moreover, it’s up over 10% in the last 30 days. The preceding 24 hours have seen unusually strong trade activity, totaling $196.47 million, which may explain this price increase. Source: CoinMarketCap The coin has lately pushed over $0.082 after finding support at $0.073. If it manages to stay over $0.082 for a prolonged period then it will likely rally further. A drop below this level will likely take the price down to $0.080.

Crypto Michael, a cryptocurrency analyst in the crypto space, has recently shared some insights on the possible market trend of the Bitcoin (BTC) price before the halving commences. These insights were shared in a video uploaded on the analyst’s YouTube channel. Signs Of A Potential Bull Run According to the recent revelations by Crypto Michael, Bitcoin might be on the brink of a new bull run. In his video, which has garnered over 2,000 views on YouTube, the analyst suggests that the cryptocurrency shows considerable resilience and potential for a surge. This optimism stems from various indicators and patterns observed in Bitcoin’s price action. It’s not just Bitcoin’s impending rise that Crypto Michael has highlighted. The analyst also mentions that the altcoin market is warming up for a possible upward trend. The expert believes the significance of this parallel bullish movement for altcoins cannot be underestimated. It is worth noting that a comprehensive bull market, including both Bitcoin and its altcoin counterparts, could mean significant gains for diversified crypto portfolios. $45,000 Ahead Of The Bitcoin Halving? Diving deeper into his analysis, Crypto Michael predicts a potential Bitcoin price of $45,000 before the much-anticipated halving event next year. A halving is crucial in the Bitcoin network, where miners’ rewards for adding new blocks to the blockchain are cut in half. This event typically decreases supply and can significantly influence Bitcoin’s price. Historically, the crypto market has experienced bullish trends before and after halvings. This cyclical behavior has been observed in the past two halvings, with price surges leading up to and following the event. However, the current market dynamics have left investors in a speculative state, pondering if history will repeat itself. Particularly, Bitcoin has shown a bearish trend over the past month, down by nearly 10%. The asset plunged from its high of $30,000 in late July to as low as trading just above $25,000 on Monday. However, Bitcoin’s price can be seen to show signs of recovery in the past few weeks. The asset trades above $26,000 at the time of writing, with a price of $26,338 and a market cap of $513 billion today. Notably, Bitcoin’s market cap is currently up by more than $10 billion compared to its recent market cap value of below $500 billion, seen earlier this month. It is worth noting that while its market cap and price have surged over the past two weeks, the asset’s trading has trended in the opposite direction. Particularly, Bitcoin’s daily trading volume has plunged from the $18 billion seen earlier this month to as low as $10 billion, in the last 24 hours. Featured image from iStock, Chart from TradingView

TokenCoin has emerged as a pioneering company, specializing in high-performance cloud computing power mining services. TokenCoin is a reliable choice for individuals looking to generate passive income through cloud mining, offering transparency, diverse plans, and a commitment to excellence. In the fast-paced world of cryptocurrencies, where innovation and opportunity abound, there’s a growing desire among enthusiasts to participate in the digital asset ecosystem and generate income. TokenCoin caters to a wide range of users, whether a beginner or an experienced miner. They offer tailor-made cloud computing power mining solutions for mainstream digital currencies like Bitcoin, Litecoin, Bitcoin Cash, and more. TokenCoin’s Cutting-Edge Infrastructure TokenCoin boasts cutting-edge mining equipment and efficient data centers, ensuring a stable power and network environment for continuous and efficient mining operations. Their technical team consists of experts and mining engineers in the blockchain field, continuously optimizing mining strategies to adapt to ever-changing market conditions. TokenCoin strategically deployed mining facilities worldwide, with a primary focus on allocating computational power in regions like Uzbekistan, Kazakhstan, and Russia. Accessible Plans for All TokenCoin Initial Offer Further, TokenCoin offers a range of cloud mining packages, including Bitcoin (BTC), Litecoin (LTC), DASH, and Bitcoin Cash (BCH). Users can start their mining journey with a $10 reward for just signing up. Also, the affordable initial investment is just $10, anticipating a daily return of $09 and providing a steady stream of earnings from your mining activities. TokenCoin Active Plans: Contract Name Contract Price Contract Terms Fixed Returns BTC Free Hash Power $10 1 Day $10 + $09 BTC Experience Hash Power $100 3 Day $100 + $3.6 DASH Experience Hash Power $500 7 Day $500 + $45.5 LTC Classic Hash Power $1,200 15 Day $1,200 + $270 BCH Classic Hash Power $3,000 30 Day $3,000 + $1,530 BTC Premium Hash Power $6,500 60 Day $6500 + $7,800 BTC Classic Hash Power $9,800 90 Day $9,800 + $18,522 TokenCoin also offers a referral program, allowing users to earn rewards by inviting others to join the platform. Through this program, affiliates can receive a 3% commission on purchase orders made by their referrals, providing an additional opportunity to enhance their earnings and maximize profits. About TokenCoin TokenCoin offers a user-friendly and hassle-free cloud mining solution, making cryptocurrency mining accessible and effortless, whether your target is Bitcoin or Ethereum. TokenCoin offers the ideal choice for engaging in crypto mining without the intricacies of acquiring mining equipment. 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.