Shiba Inu has been constantly garnering favor among crypto investors since its first price surge back in 2021. Even with the price drop over the last year, the meme coin still features as an investor favorite, surpassing the likes of Cardano and Dogecoin in countries with a large crypto investor presence. Shiba Inu Search Surpass Dogecoin And Cardano Google Trends has shown that interest in Shiba Inu has surged ahead of that of Dogecoin in Canada and the United States, as well as Cardano. The data which shows the movements over the past 12 months shows points in time where the search for Dogecoin had spiked significantly, leading to a remarkable lead by Dogecoin compared to Shiba Inu and Cardano. However, as time has passed and periods of brief spikes have been left behind, the trends have indicated that Shiba Inu remains the asset of the three gaining investors’ attention. Since April 2023, SHIB has appeared ahead of both Cardano and Dogecoin with no end in sight for this trend. In September alone, the interest in Shiba Inu has come out more than double those of Cardano and Dogecoin. Even toward the end of August when the crypto market crashed and interest waned, Shiba Inu went in the opposite direction. This spike in interest shown in the chart above coincides with the launch of the Shibarium blockchain. The Layer 2 network built atop the Ethereum blockchain was in the works for a long time and when it eventually launched in August, it triggered renewed interest in the SHIB token which currently serves as its official governance token. SHIB Falls Behind Dogecoin In Profitability While Shiba Inu is leading in terms of interest, it has not translated to profitability for the meme coin’s holders. The percentage of SHIB holders currently seeing any kind of profit is at only 9% compared to 41% for DOGE holders, according to data from IntoTheBlock. However, SHIB is still doing well compared to Cardano in this regard whose holder base is almost completely submerged in losses. Data shows that ADA holders in profit are sitting at a sad 4%. When put in contrast with SHIB’s numbers which is still disappointing, the meme coin is seeing twice as many holders in profit. In terms of price performance, all three have performed similarly when comparing their current prices to their all-time prices. SHIB is down 91.49% from its ATH, while Dogecoin and Cardano are down 91.59% and 91.89%, respectively, data from Messari shows.

One year has passed since the Ethereum (ETH) Merge, which marked the integration of Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet. This significant milestone facilitated the transition of the Ethereum blockchain from the legacy proof-of-work (PoW) system to a PoS model, giving rise to Ethereum 2.0. The completion of the Merge on September 15, 2022, brought about a major shift in Ethereum’s energy consumption, with an expected reduction of 99.95%. Additionally, this transition opened up new possibilities for scaling the Ethereum ecosystem. The merge involved migrating the entire blockchain to new PoS validator nodes, which require participants to stake or lock up 32 Ether (ETH) to participate in the network. Importantly, this transition did not impact Ether tokens held by investors, and the operations of Ethereum-based applications remained unchanged. As Ethereum celebrated the first anniversary of The Merge, it introduced its latest testnet called Holesky. The Future Of Ethereum Development And Testing? Initially known as Holli, the Holesky testnet is designed to enhance the testing environment on Ethereum. Drawing inspiration from a vibrant neighborhood in Prague, Czech Republic, this new testnet offers various improvements over its predecessor, Goerli. According to a blog post from the software development firm Tatum, Holesky is set to replace Goerli as the primary testnet for staking, infrastructure, and protocol development. For testing decentralized applications, smart contracts, and other Ethereum Virtual Machine (EVM)-related functions, the Sepolia testnet remains the preferred choice. Holesky, on the other hand, serves as Ethereum’s merged-from-genesis public testnet, mirroring mainnet functionalities and enabling precise evaluations through thorough staking trials, infrastructure assessments, and direct protocol developer testing. To ensure rigorous testing, Holesky aims to have twice as many active validators as the main Ethereum network. The network starts with a solid foundation of 1 million validators, encouraging teams to run a substantial number of validators, with each team handling around 100,000 validators. These measures contribute to the comprehensive evaluation of the testnet and intended functionality. According to Tatum’s blog post, by introducing Holesky and refining inflation mechanisms based on the Sepolia testnet, Ethereum continues to evolve and improve its protocols. One Year After The Merge In a recent post on X (Formerly Twitter), the self-proclaimed Ethereum Educator, who goes by the pseudonym “Sassal.eth,” highlighted some notable statistics on the first anniversary of The Merge. One significant achievement for Ethereum since the Merge is burning 980,000 ETH tokens, resulting in a permanent reduction of Ethereum’s total supply. Burning ETH involves removing tokens from circulation, contributing to potential scarcity and value. Additionally, the Ethereum 2.0 network has seen a significant 11.6 million ETH being staked, which involves locking up ETH as collateral to participate in the proof-of-stake consensus mechanism. Moreover, according to Sassal, adding 362,000 new validators has strengthened the Ethereum network. Validators are crucial in proposing and validating new blocks, ensuring the network’s security and overall robustness. On the other hand, Ethereum’s native token, ETH, has experienced a tumultuous journey in terms of its price performance since the beginning of the year. Despite reaching an annual high of $2,144 on April 16, ETH has been impacted by the overall market trend, resulting in significant losses across various time frames. Currently, ETH is trading at $1,619, representing a 1% decline in the past 24 hours. Similarly, over the past seven days, the token has recorded a decrease of 0.9%. Looking at the fourteen and 30-day time frames, ETH has experienced declines of 1% and 11.3%, respectively, underscoring the prevailing downward trend for the token’s value. However, it is worth noting that since the occurrence of The Merge, ETH has witnessed a moderate rise of 7.6% year to date, according to Coingecko data. Featured image from iStock, chart from TradingView.com

Two years ago, controversial artist Nelson Saiers sparked a debate when he erected a massive inflatable rat outside the US Federal Reserve building in New York; now, the creator takes another jab at a US institution with a new crypto art exhibition. Crypto Art Exhibition Takes Jab At Scams According to a release shared with NewsBTC, a crypto art installation was placed in front of the US Securities and Exchange Commission (SEC). This time, Nelson Saiers portrayed a street vendor offering “rug pulls.” In this latest protest exhibition, Saiers highlighted the crypto-based scam where the team behind a project disappears, leaving their community behind and “holding the bag” for an initial investment. The exhibit aimed to showcase the “ease” of these illegal activities. Moreover, by setting the crypto art exhibit in front of the SEC, the artist potentially tried to send a message to the regulator: “rug pulls” happened right in front of the institution, seemingly without consequence. This is the latest, but far from the only art exhibition where Saiers takes a hit on the US SEC and other financial regulators. As mentioned, the artist set an inflatable Bitcoin rat at the Fed’s building in 2020 and 2018. A few months later, as the crypto market was experiencing a bull run that took the price of Bitcoin into uncharted territory, Saiers called cheap on the Fed with his “Cheap Money is Out-of-Order.” During this exhibition, which saw the sculpture of the Wall Street Bull interfered with a Saiers-made sculpture, the artist criticized the inflationary measures adopted by the financial institution. Based in New York, Saiers completed a Ph.D. in mathematics and is a former trading group manager for Deutsche Bank AG and Chief Investment Officer for Saiers Capital. In art, Saiers is known as the “Warhol of Wall Street.” As of this writing, Bitcoin trades at $26,200 with sideways movement across the board. The cryptocurrency has been unable to break above or below its current trading range and will likely continue this trajectory until late September. At that time, macro-economic forces will likely come back into the picture, stirring volatility into the market. In particular, the spot Bitcoin Exchange Traded Fund (ETF) narrative, mainly in the hands of the SEC, is bound to influence the price of the number one crypto by market cap. Cover image from Unsplash, chart from Tradingview

Celsius Mining LLC to Acquire and Operationalize Core Scientific’s Partially Developed Ward County Bitcoin Mining Data Center Site; Companies Agree to Settle All Existing Litigation AUSTIN, Texas–(BUSINESS WIRE)–$CORZQ #bitcoin—Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, and Celsius Mining LLC, Bitcoin mining subsidiary of Celsius Network (“Celsius”), today announced an agreement to sell Core Scientific’s Ward County, Texas (“Cedarvale”) Bitcoin mining data center site to Celsius and to settle all existing litigation between the two parties for total cash consideration of $14 million. “We are pleased to resolve all existing litigation related to Celsius Mining,” said Adam Sullivan, CEO of Core Scientific. “With unwavering focus, we continue to deliver on our commitment to enhance the operational excellence of the organization and emerge from our restructuring process later this year even stronger. Executing our three-year roadmap to drive growth, we plan to expand our two operational Texas data centers to provide sufficient capacity for us to remain one of the largest and most efficient Bitcoin producers at scale in North America.” The proposed sale of the partially developed, non-operational Cedarvale data center site includes 215 megawatts of available power, buildings under construction, equipment and designs to enable the completion of the facility. If approved, the parties would reach a settlement and mutual release with respect to all existing litigation. This purchase sets an early foundation for Celsius to reach a value-maximizing conclusion with Fahrenheit LLC (“Fahrenheit”), Celsius’ previously announced Plan Sponsor. Fahrenheit will provide the capital, management team, and technology required to successfully establish and operate the new company (“NewCo”). “Securing the Cedarvale site further increases Celsius’ commitment to West Texas, growing our self-mining portfolio to an impressive 300 megawatts,” said Chris Ferraro, Chief Restructuring Officer and Interim Chief Executive Officer of Celsius Network. “This outcome was made possible through the collaboration of Celsius and US Bitcoin Corp, who played a key supporting role in structuring and executing the transaction. We are pleased to settle all existing litigation and look forward to focusing on expanding the Cedarvale capabilities and completing the site.” U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC”) will be contracted to manage the construction of the 215 MW Cedarvale facility. As previously announced, USBTC was selected as a member firm of the winning bidder in a bankruptcy auction to manage and operate the mining assets owned by Celsius. In addition to the Cedarvale development project, USBTC has been engaged by Celsius prior to the Plan Effective Date to begin scaling and optimizing the mining business of Celsius. “We’re extremely pleased with the success of this transaction, a milestone that significantly bolsters NewCo’s mining division. It reinforces our confidence in the potential that NewCo will capture through Fahrenheit’s leadership,” said Asher Genoot, President and Co-Founder of USBTC. “We are committed to driving further value to the Celsius estate prior to emergence and are eager to lead the development of the Cedarvale assets.” The Cedarvale site transaction does not affect Core Scientific’s mining fleet and the site is not included in its three-year roadmap, which was filed publicly in June 2023. The mutually agreed value of the site is $45 million, and the total cash consideration paid by Celsius to Core Scientific is $14 million. As of August 31, 2023, Core Scientific operated approximately 206,000 Bitcoin miners for both self-mining and colocation, representing a total potential hash rate of 22.0 exahashes per second at its data center facilities in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s self-mining operations produced 965 Bitcoin in July, and 9,756 Bitcoin year to date through August 31, more than any other listed Bitcoin miner in North America. Given that the Company and Celsius have each filed voluntary petitions for Chapter 11 restructuring in the Southern District of Texas and the Southern District of New York, respectively, the proposed agreement is subject to approval in both Bankruptcy Court jurisdictions. ADDITIONAL INFORMATION For additional information about Core Scientific’s Chapter 11 cases, please visit https://cases.stretto.com/CoreScientific. Stakeholders with questions may call Stretto at +1 (888) 765-7875 (U.S.) or +1 (949) 404-4152 (international). Additional information about Celsius’ Chapter 11 filing, including Court documents, can be found online free of charge at https://cases.stretto.com/celsius. Stakeholders with questions may call Stretto at +1 (855) 423-1530 (U.S.) or +1 (949) 669-5873 (international) or email [email protected]. ABOUT CORE SCIENTIFIC Core Scientific (OTC: CORZQ) is one of the largest blockchain computing data center providers and miners of digital assets in North America. Core Scientific has operated blockchain computing data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital asset mining and self-mining. Core Scientific operates data centers in Georgia, Kentucky, North Carolina, North Dakota and Texas. Core Scientific’s proprietary Minder® fleet management software combines the Company’s colocation expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network. To learn more, visit http://www.corescientific.com. ABOUT CELSIUS MINING LLC Celsius Mining LLC, is a Bitcoin mining subsidiary of Celsius Network, the global cryptocurrency platform and a well-recognized leader in Bitcoin mining. For additional information on Celsius, please visit http://www.celsius.network. For additional information on Celsius’ ongoing chapter 11 cases, please visit http://www.cases.stretto.com/celsius. FORWARD LOOKING STATEMENTS AND EXPLANATORY NOTES This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, those related to Core Scientific The Company’s ability to scale and grow its business, meet its expected operating plan, source clean and renewable energy, the advantages and expected growth of the Company, future estimates of revenue, net income, adjusted EBITDA, total debt, free cash flow, liquidity and future financing availability, future estimates of computing capacity and operating capacity, future demand for colocation capacity, future estimate of hash rate (including mix of self-mining and colocation) and operating gigawatts, future projects in construction or negotiation and future expectations of operation location, orders for miners and critical infrastructure, future estimates of self-mining capacity, the public float of the Company’s shares, future infrastructure additions and their operational capacity, and operating capacity and site features of the Company’s operations and planned operations. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the Company’s ability to obtain bankruptcy court approval with respect to motions in its Chapter 11 cases, successfully enter into and implement a restructuring plan, emerge from Chapter 11 and achieve significant cash flows from operations; the effects of the Chapter 11 cases on the Company and on the interests of various constituents, bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the length of time the Company will operate under the Chapter 11 cases, risks associated with any third-party motions in the Chapter 11 cases, the potential adverse effects of the Chapter 11 cases on the Company’s liquidity or results of operations and increased legal and other professional costs necessary to execute the Company’s reorganization; satisfaction of any conditions to which the Company’s debtor-in-possession financing is subject and the risk that these conditions may not be satisfied for various reasons, including for reasons outside of the Company’s control; the consequences of the acceleration of the Company’s debt obligations; the trading price and volatility of the Company’s common stock as well as other risk factors set forth in the Company’s reports filed with the U.S. Securities & Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Accordingly, undue reliance should not be placed upon the forward-looking statements. Please follow us on: https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific Contacts Core Scientific: Investors: [email protected] Media: [email protected] Celsius: Investors [email protected]

Dogecoin has been one of the most surprising and discussed cryptocurrencies since its launch in 2013. Its meme-inspired origins and 2021 hype led to spectacular price rises. This Dogecoin price prediction article analyzes factors impacting the coin’s value and predicts its future trajectory. What is Dogecoin? Dogecoin (DOGE) is a cryptocurrency that started as a joke based on the popular Doge meme in 2013. Software engineers Billy Markus and Jackson Palmer created it satirizing the hype surrounding cryptocurrencies. But what began as a parody became one of the largest cryptocurrencies. DOGE runs on its own blockchain with miners validating transactions. Key features include: Meme-inspired The Shiba Inu dog from the Doge meme is its mascot. This makes it more approachable for mainstream investors, as does its low price compared to other assets. Large supply Over 140 billion DOGE have been mined so far compared to Bitcoin’s limit of 21 million. Low price per coin Due to the high circulation supply, DOGE trades at a fraction of a dollar making it attractive for first-time investors. Faster transactions DOGE offers faster payments than Bitcoin with 1 minute block times. Tipping currency The DOGE community utilizes it extensively for tipping and donations, especially on Reddit and Twitter. While DOGE lacks the sophistication of platforms like Ethereum, its brand awareness makes it appealing as a payment option. Major companies like AMC Theatres and the Dallas Mavericks basketball team accept DOGE payments. Factors Impacting Dogecoin Price Several key factors influence DOGE’s notably volatile prices: Celebrities and Billionaires Public figures like Elon Musk and Mark Cuban endorsing DOGE carry outsized influence, drawing in retail investors and moving its price. Media Hype Attention from mainstream media outlets drives up interest and prices rapidly as seen in early 2021. But it works both ways, with DOGE falling out of favor just as fast. Meme Power As a meme-based asset, DOGE trends on social media significantly impact its price as hype spreads or fades. The community plays a central role. Development Activity While work has slowed, some upgrades like lower fees have the potential to improve DOGE adoption if development regains momentum. Broader Crypto Market Like most altcoins, DOGE price depends heavily on Bitcoin’s price action. When Bitcoin crashes, memecoins like DOGE usually crash harder. Competitors An endless stream of new memecoins like Shiba Inu and Pepe compete for investors’ attention and dollars, which impacts DOGE market share. Historical Dogecoin Price Timeline Looking at major developments in DOGE’s history sheds light on patterns governing its volatile price. 2013 – The Joke Begins Dogecoin was created as a “joke currency” by programmers Billy Markus and Jackson Palmer in December 2013. The price remained extremely low, trading for a tiny fraction of a penny during the first year. 2014-2016 – Gaining Attention In 2014, DOGE gained more mainstream attention during the Doge meme’s resurgence, with its market cap reaching over $60 million by end of 2014. Dogecoin was used extensively for charitable fundraisers and tipping on Reddit/Twitter. But the price remained under one cent between 2014-2016. 2017 – Bull Run Ride When crypto markets boomed in 2017, DOGE saw massive gains fuelled by speculation, rising from $0.0002 and peaking at $0.018 in January 2018 – a 9,000 percent rise in 2 months! But it crashed soon after, dropping 90% in just over a month following the broader crypto downturn. Still, DOGE had proven it couldn’t be ignored. 2018-2020 – Slump Despite Growing Adoption During the 2018-2020 bear market, DOGE struggled to gain traction again. Its price declined gradually losing over 90% of its value and falling below $0.002 in early 2019. However, real-world payment adoption grew with providers like CoinPayments, LivingRoomOfSatoshi, and Bitpay supporting DOGE payments on e-commerce sites. 2021 – Rocketing to Fame The 2021 bull run, especially Elon Musk’s repeated endorsements of DOGE, sent it rocketing from under one cent in January 2021 to an astonishing high of $0.7 in May 2021 – a truly unbelievable 40,000% return in four months! Other key drivers included: Mainstream media coverage during the price surge. DOGE graced the covers of Newsweek and Time Magazine. Increased crypto adoption, especially among retail investors using platforms like Robinhood Major brands like Snickers and Slim Jim referenced DOGE on social media, amplifying the hype. Mark Cuban’s Dallas Mavericks began accepting DOGE as payment. Exchange listings like eToro adding DOGE stoked investor interest. Like past cycles, such parabolic rises proved unsustainable. DOGE dropped steadily after the frenzied peak, closing the year at around $0.15. Still an impressive overall return for 2021. 2022 – Price Crash Despite Celebrity Involvement The 2022 crypto bear market hit DOGE hard, causing it to shed over 90% of its value, dropping below $0.05 by June 2022. Attempts were made to revive interest, including Elon Musk’s announcement that SpaceX would accept DOGE payments for merchandise purchases. Mark Cuban’s basketball team continued accepting DOGE as payment. But macroeconomic headwinds have kept prices depressed close to all-time lows, highlighting the weakness of memecoins during downturns. Recent Dogecoin Price Action 2023 hasn’t been much friendlier to Dogecoin, with the cryptocurrency unable to make it above the $0.10 level and is back trading at $0.06 and is at risk of new lows. Short-Term Dogecoin Price Prediction for 2023 DOGE outlook remains ambiguous for 2023 as the crypto markets struggle to regain footing after the FTX fallout. The meme coin remains locked in a downtrend, with the next level of support back down at under a penny. While this might feel impossible, Bitcoin retested its former 2017 all-time high, which is at the same precise point as the 1.618 Fibonacci extension target. If Dogecoin can hold the current lows, it could retarget the 0.618 or 0.382 retracement level. Medium-Term Dogecoin Price Prediction 2024 – 2025 If Dogecoin can break out of its downtrend and prevent further collapse, the next logical target is the 1.618 upside Fibonacci extension. If you notice, DOGE touched this target in the previous two bull markets. In 2021, DOGE extended even further to the 2.414 Fibonacci. The 1.618 Fib extension would put Dogecoin above $3.60. Long-Term Dogecoin Price Forecast 2030 Predicting the future of a meme cryptocurrency is challenging. However, using a linear mean trajectory drawn through each cycle, we can estimate that Dogecoin could be anywhere between $1.50 and $5 by the time 2030 rolls around. This model assumes no catastrophic failure of the blockchain. Dogecoin Price Predictions – Conclusion Despite gaining immense popularity and value during the 2021 hype, Dogecoin lacks the real-world utility and institutional investment of leading cryptocurrencies like Bitcoin and Ethereum. Unless Dogecoin evolves beyond its meme-based appeal through protocol development and real use cases, it appears set to remain as a highly speculative asset prone to boom and bust cycles based on hype. While another frenzy-driven price surge cannot be ruled out, Dogecoin’s sustainability as a long-term store of value remains doubtful according to most analysts. Traders and investors should tread cautiously with appropriate risk management. Dogecoin Price Prediction FAQs Here are some frequently asked questions about DOGE price prediction targets: What was Dogecoin’s lowest price? During its initial days in 2013-2014, DOGE hit lows of $0.0001-0.0002 on crypto exchanges. Its recent low was $0.044 in June 2022. What was Dogecoin’s highest price? DOGE hit an all-time high of $0.7376 during the 2021 frenzy phase in early May, rising astronomically from $0.005 in January 2021. How high can DOGE realistically go? Considering its past performance driven heavily by hype and celebrity endorsements, DOGE may potentially reach up to $1 temporarily during frenzied market conditions, but has poor fundamentals for sustaining high valuations long-term. Can DOGE crash to zero? While unlikely due to its enduring popularity as a memecoin and brand recognition, Dogecoin crashing to near-zero cannot be completely ruled out without renewed development and adoption efforts. Why is DOGE so volatile? Extreme volatility is built into Dogecoin’s DNA as a meme asset heavily dependent on social media hype and investor speculation rather than fundamental utility value. When will Dogecoin’s price stabilize? DOGE price is likely to remain volatile until (and if) it can mature beyond its “joke coin” origins and develop greater real-world utility and stable demand.

Axie Infinity’s native coin AXS surges 12% in 24H. BCH saw a surge of 13% over 7 days. While a liquidation crisis on collapsed FTX exchange spread over the crypto market, Bitcoin (BTC), the world’s oldest and most revered cryptocurrency, propelled beyond the $26,700 mark on Thursday, instigating a wave of excitement across the crypto market. Following Bitcoin’s impressive rally, other leading altcoins, namely Axie Infinity (AXS), Bitcoin Cash (BCH), and THORChain (RUNE), have emerged as top gainers in the digital currency landscape. Axie Infinity (AXS) At the time of writing, Axie Infinity is trading at $4.75,with a price rally of over 12% within the last 24 hours. Notably, AXS has experienced a surge in daily trading volume, soaring by approximately 910%, and currently stands at $199 million. AXS 1D Price Chart, Source: CoinMarketCap Bitcoin Cash (BCH) According to CoinMarketCap data, the price of Bitcoin Cash (BCH) has seen a substantial 7% increase within a single day and 12% gain over the course of a week, with its current trading price resting at $214. BCH’s 24-hour trading volume has also surged by 57% within a day, reaching $346 million. BCH 1D Price Chart, Source: CoinMarketCap THORChain (RUNE) THORChain (RUNE) has emerged as the third top player of the day, registering an 8% price gain over the past 24 hours and an impressive 11% surge over the week. RUNE’s daily trading volume has witnessed an uptick, rising by approximately 44% and now totaling $85 million. RUNE 1D Price Chart, Source: CoinMarketCap Does the FTX’s liquidation crisis continue to influence market dynamics? Tweet to us at @The_NewsCrypto and let us know your thoughts.

The Evadore Regenerative Finance (ReFi) project, designed to advance global renewable energy with offerings such as Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest, and CarbonEva was listed earlier today on major cryptocurrency exchanges around the globe. SÃO PAULO–(BUSINESS WIRE)–Evadore, the transformative Regenerative Finance (ReFi) ecosystem by EvaLabs, is now listed on leading cryptocurrency exchanges like Lbank, Bitmart, P2PB2B and XT The platform aims to unite blockchain entrepreneurs, start-ups, and communities through eco-friendly blockchain technologies that are forging a more sustainable world. In its tokenomics analysis, the Evadore whitepaper notes that 39.045% of the total initial supply was sold in the Initial Exchange Offering (IEO). The remaining allocations are: 4% for marketing, 3% for AirDrops, 7.5% for staking rewards, and 16% has been set aside for the Evadore Foundation. A blockchain solution to carbon emissions Evadore, an EvaChain-based initiative by EvaLabs, advocates for applying ReFi principles—centered on sustainability, social justice, and environmental stewardship—to blockchain financial systems. EvaLabs CIO Isiah Cargo highlighted the urgent need for change, noting that “87% of energy used by blockchain technologies comes from non-renewable sources.” Investing in renewable energy The project’s technical document reveals plans for a financial system that pivots away from fossil fuels towards sustainability. Revenue from Evadore ecosystem will go toward mitigating carbon emissions, specifically funding hydroelectric, solar, and wind energy projects. Isiah Cargo also indicated plans for Evadore to facilitate carbon offset initiatives and combat deforestation by acquiring carbon credits via the Evadore Foundation. The comprehensive ecosystem is more than just a wallet EvaLabs’ ReFi ecosystem provides a wide array of sustainable financial products and services. These include Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest, and CarbonEva. Isiah Cargo underscored Evadore’s commitment to a balanced ecosystem, stating, “Evadore invites the world to a carbon-free future through its globally scalable, carbon-neutral blockchain solution.” Contacts Isiah Cargo [email protected]

A recent study has revealed that Japanese investors are choosing to invest in Ripple’s XRP over the world’s flagship cryptocurrency, Bitcoin. XRP Over Bitcoin And Ethereum In contrast to the treatment Ripple and the XRP token are receiving in the US, Japan seems more welcoming to the crypto asset, according to a research paper by the Department of Economics and Finance at the City University of Hong Kong. According to the report, XRP is preferred over the biggest cryptocurrencies by market cap, Bitcoin and Ethereum. It referenced a survey conducted by the Japanese crypto exchange BITMAX, with 25% of the 1,498 respondents who took the survey choosing XRP as their favorite cryptocurrency, while 26% and 9% chose Bitcoin and Ethereum, respectively. While this survey may be considered insufficient to prove Japanese investors’ preference for the XRP token, it suggests that the token has quite the following in the country. Interestingly, XRP enjoyed the highest spot trading volume in February last year, with “nearly 1.36 billion units” traded during that period. The report attributed Japan’s fondness for the token to the country’s customs and “the confidence that Japan’s largest venture capital fund has in Ripple.” The venture capital firm in question is SBI Holdings, with the company being one of Ripple’s early partners. SBI allegedly invested close to $300 million in Ripple in 2017. SBI Holdings A “Primary Driver Of Ripple’s Success” The report labels SBI holdings as the “primary driver of Ripple’s success” in Japan. This assertion may not be far-fetched, especially considering SBI’s role in helping Ripple break into the Japanese market. In 2016, the financial services company partnered with Ripple to create SBI Ripple Asia with the goal of providing cross-border payment services to banks in the Asian region. Using Ripple’s distributed ledger technology (DLT), these banks can process cross-border transactions in “40 currencies and more than 70 countries.” SBI Ripple was to service banks in countries like Japan, China, South Korea, and other Southeast Asian countries. This move undoubtedly paved the way for Ripple and its XRP token to penetrate the Asian market (Japan in particular) early enough, especially when non-cash payments were on the rise in those countries. Ripple and XRP’s adoption in the Asian region is also expected to grow further as SBI Remit (a subsidiary company under SBI Holdings) recently expanded the SBI Ripple Asia partnership with the introduction of an XRP-based international remittance service for banks in the Philippines, Vietnam, and Indonesia. This move aligns with Ripple’s goal to disrupt the global financial system as the crypto asset will be used as a bridge currency for foreigners who want to send money to their families back home. Impressively, Ripple’s Ledger can process these transactions faster and more affordably than the traditional financial system.

Binance U.S has argued that the SEC’s demands are uncalled for in a restraining order. Magistrate Judge Faruqui issued an order setting the next hearing for September 18. The United States SEC recently submitted evidence against Binance U.S in the ongoing action, demonstrating the exchange’s failure to comply in compliance with a previously negotiated consent order. In a separate development, Binance U.S has argued that the SEC’s demands are uncalled for in an emergency restraining order. After filing classified papers last month that prompted panic in the cryptocurrency market, the United States SEC has now filed a “motion to unseal” to divulge their contents. Also, with numerous Binance and Binance U.S. officials leaving in the wake of the ongoing lawsuit’s protective order, investor confidence and trading volumes have taken a hit. Ongoing Legal Pursuit Representatives for the United States SEC filed a move on 15 September to unseal or withdraw the SEC’s prior motion to lock up documents in the Binance lawsuit. The SEC and the defendants Binance and Binance U.S. have reached an agreement to unseal a large number of SEC filings from last month. The SEC has voiced concern in various filings connected to the request to compel that BAM Management and BAM Trading (Binance U.S.) are not cooperating with the segregation of wallets, systems, and staff from Binance. In support of its request to compel and in opposition to Binance U.S.’s move for protective order, the SEC submitted 31 exhibits. The most recent filings only included information on 10 of the 31 exhibits. Also, the SEC is requesting that the court deny BAM’s request for a protective injunction. On Wednesday, Magistrate Judge Faruqui issued an order setting the next hearing in the case for September 18. Highlighted Crypto News Today: Bitcoin Surges Above $26,500: Can Bulls Propel Prices Further?

DUBLIN–(BUSINESS WIRE)–The “Web 3.0 Market: AI, Big Data Analytics, Blockchain, Connected and Wearable Devices, Cybersecurity, Digital Twins, Identity Management, IoT, Robotics, Smart Cities, Teleoperation and Virtual Reality” report has been added to ResearchAndMarkets.com’s offering. In a groundbreaking research endeavor, our comprehensive analysis evaluates the pivotal technologies driving the evolution of Web 3.0. These transformative technologies include Artificial Intelligence (AI), Big Data Analytics, Blockchain, Connected and Wearable Devices, Cybersecurity, Digital Twins, Identity Management, Internet of Things (IoT), Robotics, Smart Cities, Teleoperation, and Virtual Reality solutions. This research represents the most extensive and in-depth examination available today, meticulously assessing each of these technologies while exploring their potential for convergence and integration. Our research delves into the intricate ecosystem of companies, strategies, and solutions within each technical domain, as well as their cross-domain implementations and operations. We also provide detailed forecasts for applications and services, use cases, and industry verticals. The digitization of enterprise and industrial sectors is currently reshaping products and services, from software-controlled and virtualized infrastructure to the utilization of next-generation connectivity, signaling, and automated decision-making algorithms. These transformations are influencing not only strategic positioning but also day-to-day operational tactics. New technologies and tools are rapidly integrating into production and service systems, ushering in new business opportunities and fostering a smarter workplace for both humans and machines. Telecom infrastructure and services providers are also undergoing a profound transformation. Technologies such as AI and IoT are revolutionizing communication networks, enabling enhanced services, innovative applications, and entirely new business models for mobile network operators. Furthermore, software-defined control and infrastructure virtualization are set to redefine network and service architecture, offering improved performance and cost-effectiveness. As the boundaries between cloud computing and network infrastructure blur, so does the distinction between the network as a whole and its constituent elements, such as servers and terminals. Artificial Intelligence (AI) is playing a pivotal role by enhancing the capabilities of big data analytics and IoT platforms across various market segments. The synergy between AI and the Internet of Things (IoT) has the potential to accelerate the benefits of digital transformation for consumers, enterprises, industrial entities, and government agencies. This synergy, often referred to as the Artificial Intelligence of Things (AIoT), is a transformative force where AI enhances IoT through machine learning and decision-making, and IoT enriches AI through connectivity and data exchange. The impact of AIoT is profound, catapulting digital transformation across consumer, enterprise, industrial, and government sectors. Utilizing AI for decision-making in IoT and data analytics is crucial for the efficient implementation of smart city solutions, particularly in decision-making processes. The advent of 5G technology further amplifies these capabilities, offering substantial bandwidth and significantly lower latency, facilitating next-generation applications such as virtual reality-controlled teleoperation and enhanced user interfaces. This research unlocks the full potential of Web 3.0 technologies and their convergence, reshaping industries and ushering in a new era of connectivity, intelligence, and innovation Companies Mentioned Include: Sharp SAS DT42 Baidu Alibaba Tencent Xiaomi Technology NVidia Intel Corporation Qualcomm Innodisk Gopher Protocol Micron Technology ShiftPixy Uptake C3 IoT Alluvium Arundo Analytics Canvass Analytics Falkonry Interactor Google Cisco IBM Corp. Microsoft Corp. Apple Inc. Salesforce Inc. Infineon Technologies AG Amazon Inc. AB Electrolux ABB Ltd. AIBrian Inc. Analog Devices ARM Limited Atmel Corporation Ayla Networks Inc. Brighterion Inc. Buddy CloudMinds Cumulocity GmBH Cypress Semiconductor Corp Digital Reasoning Systems Inc. Echelon Corporation Enea AB Express Logic Inc. Facebook Inc. Fujitsu Ltd. Gemalto N.V. General Electric General Vision Inc. Key Topics Covered: Artificial Intelligence of Things: AIoT Market by Technology and Solutions Digital Twins Market Sizing and Solution Outlook Digital Identity Infrastructure and Services Market by Asset Type, Deployment Type, Organization Type and Industry Vertical Teleoperation and Telerobotics: Technologies and Solutions for Enterprise and Industrial Automation Big Data Market by Leading Companies, Solutions, Use Cases, Business Cases, Infrastructure, Technology Integration, Industry Verticals, Regions and Countries Blockchain Technology Market by Use Case, Solution, Industry Vertical, Region Cloud Computing in Industrial IoT Connected Device Market for Consumer, Enterprise, and Industrial IoT Devices by Use Case, Device Type, Application, Region, and Country Wearable Technologies: Devices, Applications, and Services Market Cybersecurity Market by Segment (Consumer, Enterprise, Industrial, Government), Use Case and Solution Type (Hardware, Software, and Data), Industry Verticals, and Regions IoT Technology by Component, Infrastructure, Software, Platform, Application, Service, and Industry Verticals Industrial Internet of Things: IIoT Market by Technologies, Solutions, and Services Robotics in Industrial, Enterprise, Military, and Consumer Products, Services, and Solutions Smart Cities Market: Technologies, Solutions, and Outlook for Applications and Services Virtual Reality Market by Segment (Consumer, Enterprise, Industrial, Government), Equipment (Hardware, Software, Components) Applications and Solutions For more information about this report visit https://www.researchandmarkets.com/r/3vc4vy About ResearchAndMarkets.com ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Contacts ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

On-chain data shows the Bitcoin profit-taking has risen to a two-month high, which could provide resistance to the BTC surge. Bitcoin Profit-Taking Volume Has Shot Up With The Price Rise According to data from the on-chain analytics firm Santiment, investors have started to take profits following the latest cryptocurrency price increase. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” as its name already implies, it tells us how the profit-taking volume in the market currently compares against the loss-taking one. The indicator separates these two volumes by going through the on-chain history of each coin being sold/transferred on the network to see what price it was previously moved at. If this last selling price for any coin was less than the current spot price, the sale of that particular coin contributes to the profit-taking volume. Similarly, their transactions would count under the loss-taking volume for the opposite type of coins. When the indicator has a value greater than zero, the profit-taking volume is currently overwhelming the loss-taking volume. On the other hand, values under this mark suggest that loss-taking is currently the dominant behavior among investors. Now, here is a chart that shows how the value of this Bitcoin indicator has changed over the past month: As displayed in the above graph, the indicator’s value has risen as Bitcoin’s rebound from the $25,000 level occurred during the past few days. This suggests that the investors have started increasing their profit-taking volume. During the past day or so, the metric has seen exceptionally high values, as the difference between the profit-taking and loss-taking volumes is at a two-month high now. Usually, profit-taking is a normal sign during price rallies. Still, considering that this latest increase in BTC’s value isn’t too extraordinary, the level of the profit selling may be a cause for concern. Perhaps some of the holders selling here have lost hope for the asset after it has been stuck in consolidation for some time now. These investors might be jumping on this relatively minor exit opportunity because they don’t think a better one will emerge shortly. In the chart, Santiment has also attached the data for another metric: the active addresses. This indicator keeps track of the total number of addresses taking part in some transfer activity on the blockchain daily. It’s visible that this metric has been at notably high values in the past few days, suggesting that many traders have been paying attention to the cryptocurrency. While sellers may be present in the market, the high activity could also suggest the presence of buyers. It remains to be seen whether the profit-takers would pull the asset back down, or if the buyers are strong enough to hold them off. BTC Price Bitcoin had climbed to the $26,700 mark yesterday but dropped back under $26,500 today.

In a recent YouTube interview with TechnicalRoundup, crypto Analyst DonAlt revealed he had purchased Bitcoin after the asset fell below the $25,000 level. According to the analyst also predicted the crypto market bottom in 2022, he had two choices before opening the new BTC position DonAlt Shares Insights On Bitcoin’s Next Price Moves Explaining the reasoning behind his decision to purchase Bitcoin, DonAlt told TechnicalRoundup: Furthermore, DonAlt stated that if his prediction is correct, he will exit the trade after attaining a profit level of double-digit percentage points. According to him, his profit target is $30,000, but with a neutral sentiment on the trade. “I’m not too bullish. I’m not too bearish. The reason why I kind of think this is an interesting trade in general is, basically, because I think if this fails… if you break down here [below $24,900]. I think we’re going to start capitulating. And then we’re going to start capitulating proper. And we’re going to go to $20,000. So, you basically have an invalidation around $25,000 right now,” he added. Meanwhile, bitcoin trades at $26,638 today, September 15, above the $24,900 capitulation zone. And according to another crypto analyst, Ali Charts, the TD sequential indicator has displayed a buy signal for BTC on the weekly chart. However, he believes that for this sentiment to be confirmed, BTC must close this week above $25,600. If this happens, BTC could rally to $28,350 or up to $31,800. Crypto analyst Titan of Crypto, with over 44,000 Twitter followers, also chimed in on the asset, saying that past performance does not guarantee future results. However, he believes comparing the present price action to previous ones is important. He said that if BTC follows its past price action and there is no negative event before its halving, it can attain $37,500 before a pullback. Will Bitcoin Hit The $30,000 Mark? Bitcoin has entered an accumulation phase after breaking above the 38.2% Fibonacci Level ($26,406). The buyers control the market, as evidenced by the four consecutive green candles on the daily chart. However, it faces resistance at the 50% Fib level ($26,738). If the buyers continue to mount pressure, BTC will rise to the 61.8% Fib level ($27,069). Also, the Relative Strength Index (RSI) indicator displays a value of 52.11 and is rising from the neutral zone into the buy zone as more traders enter long positions. Furthermore, the Moving Average Convergence/Divergence (MACD) is above its signal liner and displays a strong buy signal. The green Histogram bars confirm that BTC is in a positive price trend. BTC will likely continue its rally in the coming weeks if the buyers sustain their pressure and break above the $26,738 resistance level. Although if traders begin to take profit, then a brief retracement will likely occur before a continuation of the uptrend.

If the price manages to go past the $28k resistance level, then it will likely test $31,480. Crypto Michael, an analyst, recently predicted an upcoming price surge for Bitcoin. Bitcoin and other cryptocurrencies were lately facing severe downtrend due to fears that FTX may unload its cryptocurrency holdings. This selling pressure resulted in Bitcoin drop terribly and a general decline throughout the cryptocurrency market. Fear of selling pressure from FTX subsided, however, and BTC prices climbed back over $26,500, breaking the key resistance level of $25,680. Even if there were signs that inflation was more tenacious than predicted, Bitcoin and other conventional markets had ignored these news the day before and continued to rise. Crypto Michael, an analyst, recently made a video in which he predicted an upcoming price surge for Bitcoin. Fresh Rally Likely? Moreover, the expert in the video seems to think Bitcoin is starting to show some strength and is getting ready to start an upward trend. Referencing past price movement, in particular, the analyst predicted that Bitcoin’s price may increase to $45,000 by the time of the halving the following year. Source: CoinMarketCap The current Bitcoin price is $26,651 at the time of this writing as per data from CMC. Midway through June, the support level at $25,000 served as a springboard for BTC’s subsequent ascent to an annual high of $31,700. If the price manages to go past the $28,000 resistance level, then it will likely test the July high resistance level at $31,480. Post the breakout, the price will likely start a fresh rally all the way till $46,700 mark. Contrarily, if the price breaks below the $25,450 support level then it will likely test the $25,000 key support level.

Ethereum trading volume decreased by 16% in the last 24 hours. The ETH price approaches oversold territory on the daily chart. Ethereum bears appear to be showing exhaustion following an extended period of dominance. Over the past three days, the ETH chart has displayed an upward trajectory, marking a recovery from the 12% dip experienced over the past month. Also, it has managed to bounce back from its lowest point in five months, when it briefly touched $1,538. Moreover, it is currently trading at $1,634, fluctuating from $1,613 to $1,640. One of the factors contributing to this temporary respite from the bearish trend is the Bitcoin and Ethereum ETFs saga which continues to generate momentum. On top of it, following the footsteps of big giants like Blackrock, ARK Investors, and more, Franklin Templeton filed for spot Bitcoin ETFs two days ago. Analysts suggest that these financial giants are deemed to have a strong chance of gaining regulatory approval due to the stringent surveillance measures they have put in place to prevent market manipulation. The potential approval of these ETFs could undoubtedly have a substantial impact on the entire cryptocurrency market. On the other hand, the Ethereum network recorded 1,089,893 unique wallets engaged in ETH transactions on Wednesday, marking the second-highest number in the asset’s almost eight-year history. Santiment, a prominent crypto data aggregator, suggests that this unexpected surge in activity might serve as the necessary signal for prices to stage a rebound. Additionally, Ethereum’s Number of Active Addresses (7-day MA) recently reached a three-month high of 30,545.637. However, investors appear to remain cautious in the face of bearish sentiment, as evidenced by a 16.08% decline in trading volume over the past 24 hours. Moreover, Ethereum is still 66.62% away from its all-time high, which was reached two years ago. Can Bulls Drive Price Further? An analysis of Ethereum’s recent price movements reveals an intense battle between bulls and bears on the daily chart. The 9-day exponential moving average (EMA) currently stands at $1,629, above the current trading price, signaling ongoing bearish sentiment. The daily relative strength index (RSI) sits at 44, indicating that the asset is nearing oversold territory. ETH/USDT Daily Price Chart — MA, RSI (Source: TradingView) For the bulls to secure victory, they will need to drive the price above the 20-day EMA and subsequently attempt a rally towards the 50-day simple moving average (SMA) at $1,762. Such a move could increase the likelihood of Ethereum trading within a range spanning from $1,626 to $2,000 in the foreseeable future.

The Evadore Regenerative Finance (ReFi) project, designed to advance global renewable energy with offerings such as Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest, and CarbonEva was listed earlier today on major cryptocurrency exchanges around the globe. ISTANBUL–(BUSINESS WIRE)–Evadore, the transformative Regenerative Finance (ReFi) ecosystem by EvaLabs, is now listed on leading cryptocurrency exchanges like Lbank, Bitmart, P2PB2B and XT The platform aims to unite blockchain entrepreneurs, start-ups, and communities through eco-friendly blockchain technologies that are forging a more sustainable world. In its tokenomics analysis, the Evadore whitepaper notes that 39.045% of the total initial supply was sold in the Initial Exchange Offering (IEO). The remaining allocations are: 4% for marketing, 3% for AirDrops, 7.5% for staking rewards, and 16% has been set aside for the Evadore Foundation. A blockchain solution to carbon emissions Evadore, an EvaChain-based initiative by EvaLabs, advocates for applying ReFi principles—centered on sustainability, social justice, and environmental stewardship—to blockchain financial systems. EvaLabs CIO Isiah Cargo highlighted the urgent need for change, noting that “87% of energy used by blockchain technologies comes from non-renewable sources.” Investing in renewable energy The project’s technical document reveals plans for a financial system that pivots away from fossil fuels towards sustainability. Revenue from Evadore ecosystem will go toward mitigating carbon emissions, specifically funding hydroelectric, solar, and wind energy projects. Isiah Cargo also indicated plans for Evadore to facilitate carbon offset initiatives and combat deforestation by acquiring carbon credits via the Evadore Foundation. The comprehensive ecosystem is more than just a wallet EvaLabs’ ReFi ecosystem provides a wide array of sustainable financial products and services. These include Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest, and CarbonEva. Isiah Cargo underscored Evadore’s commitment to a balanced ecosystem, stating, “Evadore invites the world to a carbon-free future through its globally scalable, carbon-neutral blockchain solution.” Contacts Isiah Cargo [email protected]

Cardano (ADA) has been making waves recently, pulled up by a newly found enthusiastic demand pressure at the $0.24 support level. Investors and enthusiasts are eagerly watching to see if this bullish trajectory is solid enough to inspire confidence in a more extended recovery. After a period of uncertainty, ADA’s price has seen a resurgence, thanks in part to the $0.24 support level. This renewed demand has ignited a relief rally, catching the attention of traders and analysts alike. But, the question on everyone’s mind is whether this upward momentum can be sustained. According to a recent price analysis, if the current buying momentum persists, ADA could appreciate by another 3% within the week. This modest yet encouraging gain hints at the cryptocurrency’s resilience. However, there’s a significant obstacle standing in the way of a more substantial bullish turn. As of the latest available data, ADA is priced at approximately $0.254026 on CoinGecko, with a 2.6% gain in the last 24 hours and a slight 1.3% decline over the past seven days. ADA Breaks Through The Dynamic Resistance A formidable dynamic resistance level has thwarted bulls’ attempts to push ADA higher on three distinct occasions in the past. To inspire true confidence in a prolonged uptrend, ADA’s price must decisively breach this overhead resistance. Analysts suggest that achieving this feat could have a cascading effect, repositioning the resistance as newfound support. If this occurs, it could propel ADA’s price by an impressive 12.3%, pushing it to the $0.28 mark, with the possibility of reaching $0.30 in the near future. However, not all analyses are equally optimistic. A separate assessment notes a lack of bullish signals in the short term. ADA’s price has been largely stagnant, fluctuating within the $0.25-$0.29 range. This has led to concerns about the cryptocurrency’s immediate prospects. Cardano: Challenges In The Midterm Looking further ahead, the midterm outlook for ADA remains uncertain. The resistance levels set by Bitcoin are acting as a formidable barrier in the cryptocurrency market, making ADA a less favorable candidate for a bullish breakout. While there are positive signs of potential gains in the short term, the cryptocurrency faces significant challenges, particularly in breaking through dynamic resistance levels and overcoming the shadow of Bitcoin’s dominance. Investors and enthusiasts will be closely monitoring ADA’s performance in the coming weeks to see if it can sustain its recovery and inspire confidence in a more extended bullish trend. (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

The crypto industry is known for its sheer price movement volatility, driven mainly by events and liquidity crunches. Since the beginning of the year, there has been a noticeable and consistent outflow of cash from the cryptocurrency market, which is unsurprising. According to Bitfinex’s latest report, this capital drain was evident in August, as the crypto market saw an exit of about $55 billion in capital from major cryptocurrencies. $55 Billion Drained In The Past Month Bitfinex’s analysis, which measured the aggregate realized value metric of Bitcoin (BTC), Ethereum (ETH), and major stablecoins like Tether’s USDT, USD Coin (USDC), BUSD, Dai, and TrueUSD (TUSD), indicates that about $55 billion in capital exited the market in August. Although the market struggled for most of the first half of the year, things became different in July as Bitcoin spearheaded inflows. During this period, Bitcoin crossed $30,000 for a while as over $100 billion has entered the market. However, the momentum changed in early August, as profit-taking and continued mixed signals from the US economy triggered outflows. “A deep dive into the data reveals a prevailing trend: by early August, the industry had begun to experience capital outflows,” said the report. Interest from institutional investors during this period, especially, started to wane as digital asset investment funds registered outflows after four weeks of heavy inflows. The trend has continued to the time of writing, as the run of outflows now totals $294 million. What Caused The Crypto Capital Drain? The report from Bitfinex shows that August’s capital drain was the biggest this year, especially for Bitcoin. Most of this drain came from two isolated events, resulting in immense price movement in a relatively short period. In particular, the August 17 flash crash saw Bitcoin’s price drop by 11.4% in a few hours. “August was the largest red monthly candle for BTC since the bear market bottom was formed in November 2022 at –11.29 percent as per Bitfinex Data.” The crypto derivative market has also had a similar trajectory. Ether (ETH) futures and options markets have slowed considerably in 2023. The average daily trading volume is down almost 50% from the two-year average to $14.3 billion daily. Bitcoin has also seen some liquidity crunches, as data shows almost 69% of all mined Bitcoin have not moved in over a year. On the other hand, this suggests a high conviction from investors and a buoyant outlook on the future of the digital currency. September has been relatively quiet regarding price movement, and the industry awaits the beginning of the next bull market. However, this crypto exchange founder believes that a bull run already started in March but the market is yet to catch on.

Ethereum Core Developers have officially approved EIP-7514 for inclusion in the upcoming Dencun upgrade which is slated for late 2023. This Ethereum Improvement Proposal (EIP) primarily aims to decelerate the growth rate of ETH staking, thereby providing the Ethereum community additional time to craft an improved validator reward scheme. The main modification brought by this EIP is setting the Max Epoch Churn Limit, the validator activation queue upper limit, to a constant value of 8. Previously, the churn limit was calculated by taking “The total number of validators/65536,” which at present equates to about 12/epoch. The decision followed an Ethereum Core Dev Meeting, as described in a tweet by Tim Beiko: “Wrapped up another Ethereum #AllCoreDevs: we covered devnet updates, additions to Dencun, and had a full overview of Reth. […] EIP-7514 will be part of the Dencun upgrade! Expect the EIP and associated CL specs PR to be updated to reflect all of this in the coming days.” Beiko’s statement underscored the importance of this change and provided insights into the consensus among Core Developer teams. Dankrad Feist, a Researcher at the Ethereum Foundation, outlined the importance of the approval. Feist stated: Implications For Ethereum Price The staking ratio’s continual rise could result in a diminishing amount of liquid ETH available for trading. Should the staking ratio near 100%, it might produce a supply scarcity, thereby influencing the ETH price positively. However, from the information presented, Ethereum developers are not advocating for this scenario due to potential technical and security implications. EIP-7514, therefore, indirectly impacts the ETH price by manipulating its supply side, though immediate, direct effects on the price aren’t anticipated. Instead, any potential influence on price would likely manifest over an extended period. The motivation behind EIP-7514, as detailed on GitHub, is to “mitigate the negative externalities of very high level of total ETH supply staked before a proper solution is implemented.” If the deposit queue stays 100% full, the share of ETH supply staked will reach 50% by May 2024, 75% by September 2024, and 100% by December 2024. Remarkably, the modest returns don’t necessarily deter further capital staking, especially with the frequently substantial and erratic returns from MEV. Therefore, EIP-7514 serves as an interim measure, buying time for the community to deliberate and develop comprehensive solutions to the emerging challenges. In summary, while the immediate effects of EIP-7514 on the ETH price remain to be seen, its long-term implications, especially in terms of staking growth and supply side management, could be substantial. The community and investors alike will closely monitor the aftermath of this EIP’s implementation in the Dencun upgrade. ETH Price Builds Momentum At press time, ETH was trading at $1,628. On Monday, ETH price bounced off the 78.6% Fibonacci retracement level at $1,536. A breakout above the 20-day EMA at $1,639 and consequently above the 61.8% Fibonacci level at $1,665 is critical to maintain upside momentum.

Binance is facing a turbulent period marked by a series of high-level executive resignations. The most recent departures include Head of Legal and Chief Risk Officer at Binance.US. In the midst of mounting regulatory challenges, Binance, the world’s largest cryptocurrency exchange, is grappling with a wave of high-level executive resignations. Over the past two months, the exchange has seen a series of key departures, throwing its management and strategic stability into question. The latest exits come from Binance.US, where Head of Legal Krishna Juvvadi and Chief Risk Officer Sidney Majalya have announced their resignations. This follows the departure of Binance.US CEO Brian Shroder, as well as a significant reduction in the workforce, reflecting the challenges faced by the US arm of the exchange. On the global front, Binance has witnessed the departure of several senior figures, including General Counsel Hon Ng, Chief Strategy Officer Patrick Hillmann, and SVP for Compliance Steven Christie. Further, Matthew Price, a former IRS agent brought on board by Binance in 2021 to oversee global investigations and intelligence, has also recently left the company. These high-profile departures raise concerns about Binance’s ability to navigate the increasingly complex regulatory landscape. Since June, when the U.S SEC filed a civil complaint against the largest crypto exchange, Binance has found itself under pressure. This intensified scrutiny has led to ongoing regulatory investigations in the severance of crucial banking relationships on a global scale. Also, the resignations from key legal and compliance units, which are the front lines in dealing with regulators, further intensify the pressure on the embattled exchange.

Amidst the chaos, Tether took prompt action, freezing $1.4 million in USDT. Remitano has not yet made any official comments about the breach so far. The crypto exchange Remitano had a security breach yesterday. Suspicious activity was observed with the withdrawal of over $2.7M in cryptocurrency. Amidst the chaos, Tether took prompt action, freezing $1.4 million. At around 12:45 PM, an alert was generated when a verified Remitano hot wallet began transmitting funds to an unknown address. A total of $1.4 million in Tether (USDT), $208,000 in USDC, and 2,000 USD worth of Ankr tokens were involved in the questionable transactions. This prompted an instant warning from Cyvers, a blockchain analytics platform, to the cryptocurrency sector. Rising Cases of Exploits Remitano has not yet made any official comments about the breach so far. However, this is not the first hack of its kind in 2023. Other breaches at cryptocurrency exchanges have already revealed private keys and resulted in substantial thefts. The Lazarus Group is responsible for a large number of high-profile crimes this year. Including an assault on the Stake platform that was reported to have netted over $200 million. Not just financial firms, but even governmental institutions, have been the targets of their activities. Moreover, the FBI has asked crypto businesses to be on high alert and to avoid any transactions with addresses it has identified as being related with the criminal organization. According to blockchain security company SlowMist and on-chain investigator ZachXBT, the assault on cryptocurrency exchange CoinEx, which lost at least $55 million, was carried out by the same hacking organization Lazarus. Inadvertently revealing its address, the same one used in the previous Stake and Optimism breaches, helped identify the hacking outfit. Highlighted Crypto News Today: Crypto Lender Delio Reportedly Plans Lawsuit Against Authorities