The KASIKORN Business-Technology Group (KBTG), a tech division of KASIKORNBANK (KBank), has launched KXVC, a $100 million USD flagship fund aimed at global entrepreneurs in the fields of Deep Tech fintech, web3, and artificial intelligence with potential synergy in APAC. With a population of over 680 million people and a projected digital economy of $1 trillion USD by 2030 and more than 400 million digital consumers**, Asia-Pacific, particularly Southeast Asia, is one of the most interesting digital ecosystems. With significant synergies with KBank, KXVC is positioned as a regional gateway to assist international innovators in AI, Web3, and Deep Tech to develop financial breakthroughs in APAC. Krating Poonpol, Group Chairman, KBTG, who has over 100 investments, 4 unicorn exits, and 10 exits across 5 funds, and Jom Vimolnoht, Managing Director, KXVC, who has invested 400 million USD in startups and supported over 35 startups in the region, will lead the fund. KXVC, the vibrant offspring of KASIKORN X (KX), is currently moving quickly and intends to position itself as one of the primary entryways to APAC for international entrepreneurs in order to enable them connect into its enormous corporate, SME, and consumer base in its ecosystem. KXVC places a high priority on AI, Web3, and Deep Tech, connecting with the financial industry and meeting the demands of consumers, corporations, and SME businesses in APAC. KXVC plans to invest in firms that concentrate on consumer-oriented AI, cybersecurity, AI/ML tools (such as deployment platforms, data annotation, and model optimisation), and startups that solve AI-specific problems. Web3 infrastructures, node validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternative L1/L2s, shared securities, LsdFi, and consumerization of NFTs are all goals for KXVC. KX has already been working with top global AI, Web3, and Deep Tech startups and funds like MagicLink, Transak, 1KX, Hashkey Capital, Symbolic Capital, L2 Iterative Ventures, Instari Ventures, and aifund.ai prior to this official launch. KXVC aims to carry on KX investment activities and has plans to invest in over 30 startups and funds globally with geographical emphasises in the US, EU, Israel, and APAC. Please email [email protected] for further information on KXVC.

BRISE introduces electric vehicles to the UAE, marking a significant milestone. The company initiates Oracle Web3 Testnet, showcasing its commitment to blockchain innovation. In a series of developments, BRISE has unveiled an array of initiatives that are primed to initiate newer trends in the blockchain industry. From entering the electric vehicle (EV) market in the United Arab Emirates (UAE) to the launch of Oracle Web3 Testnet, BRISE has established innovative standards. The company’s electric vehicle has officially made its way to UAE. This move signifies BRISE’s commitment to expanding its geographical footprint and advancing eco-friendly mobility solutions in a region known for its oil reserves. The director of BRISE is currently supervising the next stages of this initiative. A video showcasing the vehicle in action will be released soon, offering a first-hand look at the future of sustainable transport in the nation. On the tech front, BRISE’s development team has initiated the Oracle Web3 Testnet. As blockchain technologies continue redefining how we interact with digital assets, this testnet will serve as a pilot platform for decentralized applications (dApps). By venturing into Oracle Web3 Testnet development, BRISE solidifies its standing as a tech innovator and prepares itself for a blockchain-centric future. Financially, BRISE has made some calculated moves as well. The market team has executed significant buybacks of its native tokens. This is an anticipatory step ahead of upcoming token burns, which are part of a broader strategy to heighten the demand and, thus, the value of BRISE tokens. Investors and token holders will likely see this as a vote of confidence in the utility and future appreciation of the company’s digital assets. The firm has diversified its peer-to-peer (P2P) exchange offerings. A more extensive range of fiat currencies and payment methods have been introduced. This makes the P2P exchange more accessible to a global audience, increasing its user base and transaction volumes. Meanwhile, the BRISE token is trading at $0.0000001671 after a period of double bottom formation. The price has been trading in a narrow range, and the recent development will likely inject a bullish sentiment into the market. With more updates and announcements on the horizon, BRISE tokens may be headed for an exponential surge. Spearheading Oracle Web3 Testnet development, or making savvy financial moves, BRISE is blazing in the UAE’s electric vehicle market.

Swift addresses potential fragmentation by enabling CBDCs to scale seamlessly. Three central banks beta-tested Swift’s CBDC connector solution. Swift, a global member-owned cooperative renowned for its secure financial messaging services, is making significant strides in its quest for Central Bank Digital Currency (CBDC) interoperability. In a notable development, Swift revealed on September 13 that three central banks are currently beta-testing its innovative CBDC connector solution. Simultaneously, 30 financial institutions are participating in a sandbox environment to explore the solution’s potential in various use cases. It has come to light through Swift’s official announcement that this specific journey began when it committed to developing a beta version of its CBDC connector solution following the encouraging results of initial sandbox testing. Participants in these early stages recognized the solution’s potential and value, driving it to the current phase. Now, three central banks and monetary authorities, including the Hong Kong Monetary Authority (HKMA) and the National Bank of Kazakhstan, have integrated the solution into their infrastructure for direct testing. Moreover, Swift has initiated a second phase of sandbox testing, involving commercial banks, central banks, and financial market infrastructures. Together, they are investigating additional use cases, such as trigger-based payments for digital trade platforms, foreign exchange models, delivery vs. payment, and liquidity-saving mechanisms. Esteemed institutions, including the Reserve Bank of Australia, Deutsche Bundesbank, HKMA, Bank of Thailand, and CLS, are among the 30+ leading institutions participating in this phase. The first sandbox phase saw participation from eighteen central and commercial banks. A Milestone? Tom Zschach, Swift’s Chief Innovation Officer, underscored the organization’s commitment to fostering interoperability. He emphasized the importance of ensuring that new digital currencies can coexist seamlessly with each other. And with existing fiat-based currencies and payment systems. Also, Zschach noted that the financial community has already recognized the substantial potential of Swift’s CBDC innovations. It aims to bridge current and future payment systems securely. The ongoing testing and exploration will further refine the solution to maximize its effectiveness at scale. However, the rise of Central Bank Digital Currencies has garnered global attention, with 130 countries, representing a substantial 98% of global GDP, actively exploring CBDCs. Notably, 19 G20 countries are in advanced stages of CBDC development, with nine already in pilot phases. This widespread adoption raises concerns about potential fragmentation in cross-border transactions, as countries primarily focus on domestic usage. Meanwhile, Swift aims to enable digital currencies and tokenized assets to seamlessly scale. Swift’s work on CBDCs began over 18 months ago. In the initial phase of experiments, nearly 5,000 transactions were simulated. It was across two different blockchain networks and with existing fiat-based payment systems.

SINGAPORE, SINGAPORE, September 14th, 2023, Chainwire McLaren Racing and OKX, a leading Web3 technology company and Official Primary Partner of the McLaren Formula 1 Team, today revealed a limited-edition Stealth Mode livery design to be carried on the McLaren MCL60 F1 cars at the 2023 Singapore Grand Prix (15-17 September) and the 2023 Japanese Grand Prix (22-24 September). The Stealth Mode livery was co-designed by OKX and McLaren, and will switch McLaren’s livery colourway, augmenting black against the team’s classic papaya trim. The sleek and understated design represents the two brands’ belief in putting in hard work behind the scenes to strive for excellence, while embracing change and innovation. The MCL60 was revealed in Stealth Mode on Wednesday 13 September at an exclusive media event in Singapore at Lantern, Fullerton Bay Hotel. The event was attended by OKX Chief Marketing Officer Haider Rafique, McLaren F1 Team drivers Lando Norris and Oscar Piastri, and McLaren Racing Executive Director, Partnerships & Accelerator, Matt Dennington. A limited-edition t-shirt will be made available through the McLaren Store, and at a limited giveaway for attendees of Token2049, the Web3 conference taking place in Singapore prior to the race. To bring fans closer to Stealth Mode, OKX will host a McLaren-themed fan zone, OKX Race Club, at Chijmes, Singapore. The OKX Race Club will run from Thursday 14 September to Sunday 17 September, featuring a Stealth Mode show car, racing simulators, giveaways and surprise guests over the race weekend. This will be officially opened at 14:00 SGT on Thursday 14 September, and free tickets are available here. For further information, please contact: Steve Atkins, Chief Communications Officer, McLaren Racing [email protected] / +44 (0) 7590 771 849 Saskia Wirth, Director, Corporate Communications, McLaren Racing [email protected] / +44 (0) 7442 934 149 Curtis Nice, Communications Manager, McLaren Racing [email protected] / +44 (0) 7765 742 300 Fran Campbell, Communications Executive, McLaren Racing [email protected] / +44 (0) 7442 692 253 About McLaren Racing McLaren Racing was founded by racing driver Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt. McLaren Racing competes across five racing series. In 2023, the team will compete in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Felix Rosenqvist and Alexander Rossi, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers René Rast and Jake Hughes, and the Extreme E Championship with NEOM McLaren Extreme E Team drivers Emma Gilmour and Tanner Foust. The team also competes in the F1 Esports Pro Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships. McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry. McLaren Racing – Official Website About OKX OKX is a leading Web3 ecosystem. As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into Web3. The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis. To learn more about OKX, download our app or visit: okx.com Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances. Contact OKX [email protected]

VICTORIA, Seychelles–(BUSINESS WIRE)–#blockchain–Alicia Kao, the Managing Director of KuCoin, attended the TOKEN2049 panel and discussed the challenges and opportunities exchanges will face ahead. She shared her valuable insights, emphasizing that the self-regulation will bring sustainable development for the industry, unveiling the meticulous security measures enacted by KuCoin to fortify the sanctity of users’ assets and amplify transparency within the platform. As the People’s Exchange, KuCoin has always placed users’ asset security and safety as the top priority. With the on-going 1 million USD Bug Bounty Program, routinely published Proof-Of-Reserve reports, and frequently shared educational content, KuCoin is making remarkable efforts to fully protect users in an ever-changing external environment. Alicia also mentioned that KuCoin will continue to build global communities and focus on promising tracks and areas to better serve their users with top-notch products and services. The panel discussion proved to be a wellspring of insight and educational discourse, facilitating the exchange of a wealth of valuable information. Such discussions serve to endow users with a heightened comprehension of the present landscape and a forward-looking vantage point on the industry’s trajectory. As an unparalleled forum for knowledge exchange, networking, and strategic collaborations, TOKEN2049 has brought together over 10,000 builders, innovators, and enthusiasts to explore and shape the future of blockchain and digital assets. In championing initiatives of this nature, KuCoin will persist in its commitment to facilitate the global free flow of digital value. We will steadfastly prioritize user asset safety, user education, while also propelling the industry’s progress in an organized and sustainable manner. About KuCoin: KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has around 29 million registered users across more than 200 countries and regions around the world. As the home of crypto gems, KuCoin has supported over 750 projects with 1,300+ trading pairs. Over 200 projects had their world premiere listing on KuCoin. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap and Coingecko. Contacts For media inquiries, please contact: [email protected].

New collaboration to focus on the early detection and prevention of dementia, depression and other diseases News Highlights: Brain Bio-Digital Twin technology has the potential to change medical treatment practices by eliminating the need for invasive and costly testing, preventing medical errors and accelerating clinical drug trials New collaboration will focus on practical applications of Brain Bio-Digital Twin Technology NTT’s proven AI and ML processing technologies will accelerate NCNP’s goal of personalised medicine through the Brain Bio-Digital Twin Technology TOKYO–(BUSINESS WIRE)–#TechforGood—NTT Corporation (NTT) and the National Center for Neurology and Psychiatry (NCNP) have entered into a partnership agreement to develop “Brain Bio-Digital Twin” technology. The collaboration will focus on applying this groundbreaking technology to detect and prevent dementia, depression and other mental illnesses. NTT and NCNP will initially focus on practical applications of this technology that eliminate the need for invasive and costly testing of various brain diseases. By implementing NTT’s Artificial Intelligence (AI) and Machine Learning (ML) technologies, the Brain-Bio Digital Twin technology has the potential to truly personalise medicine, helping to prevent medical errors and accelerate drug trials. The number of people diagnosed with dementia and depression is growing every year. A Japanese government study found that in 2025, approximately 6.75 million people over the age of 65 in the country will have dementia.[1] In addition, the percentage of people diagnosed with depression in Japan has more than doubled since before the pandemic.[2] These conditions are challenging to address because of the lack of systematic medicines and treatment methods, the need for complex and highly invasive testing and the psychological and economic burden on patients. NCNP, a board member of Japan Health Research Promotion Bureau, aims to overcome these challenges and achieve high-quality medical care, including personalised medicine, through the concept of the Brain Bio-Digital Twin (Figure 1). Specifically, the organisation is building a library platform that aggregates and systematically organises vast amounts of data on mental and nervous system diseases that have been acquired through clinical and research activities. Once the data is collected and analysed, it can be used to model disease states using AI and ML and to develop an AI brain simulator that predicts brain states and functions of disease states. In November 2020, NTT proposed the concept of Bio-Digital Twin, which allows users to map not only the brain but also the body and psychology as detailed digital data, to understand the current state of a person’s physical and mental conditions.[3] In addition to its experience in conducting research and development of a bio-digital twin for the mind and body, including the heart, NTT can leverage high-level AI and ML processing technology that enables NTT to accelerate research on Brain Bio-Digital Twin and make a significant contribution to the early development of these technologies. In addition, NTT will also build an ecosystem with business partners for commercialization and promotion. As part of this partnership, NCNP will provide image data such as PET (Positron Emission Tomography) and bio samples (Blood, cerebrospinal fluid, tissue samples, genetic information, etc.), which are particularly useful for analysing cranial nerve diseases. NCNP will also provide medical interpretation of the underlying relationship between the results obtained by AI and ML processing and pathology, and necessary clinical implementation. The Brain Bio-Digital Twin incorporates various types of body data obtained through medical examinations into a computer as digital data and enables the creation of detailed maps and biological models through digital twin computing technology. The practical application of the Brain Bio-Digital Twin will enable the “twin” to be used for testing, rather than the patient’s own brain and nerves. The following effects can be expected from the practical application of the Brain Bio-Digital Twin. Reduce the physical and mental burden of patients by eliminating the need for invasive and complex tests Reduce patient’s cost burden by enabling simplified testing Conduct tests and treatments in small hospitals through data sharing of large testing equipment Premedication prediction of the presence and severity of side effects Improve clinical efficacy by accelerating approval of medicines (supporting clinical trials) Prediction of risk and early detection and prevention of disease by advanced analysis of clinical findings Systematic establishment of medicines and treatment methods through data collection, reproduction, and analysis of a wide variety of disease states By bringing together accumulated data and knowledge, NCNP and NTT will begin to build a platform for processing Brain Bio-Digital Twin in FY 2024. In the next three years, the organisations plan to model several brain and nervous system functions and diseases. Subsequently, the organisations will cooperate with pharmaceutical regulations on pressing issues that require the development of effective therapeutic medicines and aim to create a practical system for the early detection and prevention of diseases; for example, accurately predicting an individual’s risk for severe side effects before taking medications. References: [1] Cabinet Office: Annual Report on the Aging Society: 2017 (Summary) https://www8.cao.go.jp/kourei/english/annualreport/2017/2017pdf_e.html [2] OECD: A New Benchmark for Mental Health Systems https://www.oecd.org/health/a-new-benchmark-for-mental-health-systems-4ed890f6-en.htm [3] NTT R&D: Bio-Digital Twin Technology and Medical Business https://www.rd.ntt/research/JN202301_20618.html About NTT NTT contributes to a sustainable society through the power of innovation. We are a leading global technology company providing services to consumers and business as a mobile operator, infrastructure, networks, applications, and consulting provider. Our offerings include digital business consulting, managed application services, workplace and cloud solutions, data center and edge computing, all supported by our deep global industry expertise. We are over $100B in revenue and 330,000 employees, with $3.6B in annual R&D investments. Our operations span across 80+ countries and regions, allowing us to serve clients in over 190 of them. We serve over 75% of Fortune Global 100 companies, thousands of other enterprise and government clients and millions of consumers. About NCNP The National Center of Neurology and Psychiatry (NCNP), located in the suburb of Tokyo, was established in 1986, as one of the six national centers of Japan. Our activities are characterized by close affiliation of two major Institutes (National Institute of Neuroscience and National Institute of Mental Health) and National Center Hospital of Neurology and Psychiatry. This effort is catalyzed by the Translational Medical Center, Integrative Brain Imaging Center, Center for Cognitive Behavior Therapy and Research and other facilities. We contribute to human health and welfare. It offers high level medicine for patients with mental, nervous, muscular, and developmental disorders and aims to improve their quality of life (QOL). It promotes research on prevention and therapy of such disorders and produces highly qualified medical and health care professionals. Contacts Stephen Russell Wireside Communications® For NTT +1-804-362-7484 [email protected]

The Layer 1 and Layer 2 populace are expanding with the foray of new chains that bring upgraded solutions to the blockchain ecosystem. Among them, DAG-based Fantom emerges as a competitive smart contract platform to Ethereum. TheNewsCrypto had the exclusive opportunity to interview Michael Kong, the Chief Executive Officer (CEO) of Fantom Foundation at Token 2049 in Singapore. He unveiled the unique qualities that set Fantom apart in the dynamic and competitive blockchain arena. Kong highlights Fantom’s main focus to challenge the trends in the EVM and non-EVM ecosystem with new upgrades and revolutionize the GameFi landscape. How does Fantom distinguish itself among layer 1 blockchains, especially in light of the rise of Layer 2 solutions? Michael Kong (MK): Fantom is indeed a layer 1 blockchain, and what sets us apart is our commitment to not compromise security for performance. Many other layer 1 and layer 2 solutions opt for faster transaction times, higher throughput, and lower fees by sacrificing security. We, on the other hand, aim to strike a balance by minimizing the performance impact on security while maintaining a high degree of decentralization. For example, some L1s create sub-chains, which can complicate development as they need to manage their own chain and security alongside their applications. Fantom simplifies this process, allowing developers to focus solely on building their applications while leveraging our ongoing technology advancements to make the chain faster. Are you claiming that Fantom is more scalable than other blockchains, and are you EVM-compatible or planning to become EVM-compatible? MK: Yes, Fantom is Ethereum Virtual Machine (EVM)-compatible. This means that the process of writing and deploying smart contracts on Fantom is similar to Ethereum, using familiar smart contract languages like Solidity or Viper. While we maintain EVM compatibility, we are also developing our own smart contract technology stack to offer substantial scalability benefits on the Fantom network. Developers will continue to deploy contracts in a similar way to Ethereum but with commands tailored to Fantom. Our optimizations in the smart contract stack make processing faster and significantly reduce on-chain storage requirements, by over 90%. Could you explain the key differences between an EVM and a Layer 2 solution, considering that both rely on Ethereum as a base? MK: Layer 2 solutions and EVM-compatible chains often use the Ethereum Virtual Machine. The primary distinction is that Layer 2 solutions connect to Ethereum via bridges or roll-ups, enabling asset movement between the two networks. However, both EVM chains and Layer 2s operate independently as their own chains, confirming transactions and managing data. When using a Layer 2, you’re not fully relying on Ethereum’s security properties but rather on the security of the Layer 2 itself. This means that while an L2 interacts with Ethereum, it has its own security measures and orderings for transactions, differentiating it from the Ethereum base layer. Is it accurate to say that Layer 2s rely on the security aspect of Layer 1 while providing scalability? MK: Layer 2s don’t entirely rely on Layer 1 for security. They submit batches of transactions to Layer 1, and while Layer 1 provides some security to these batches, the ordering and security within those batches are determined by Layer 2 itself. In essence, the security and transaction orderings primarily come from Layer 2, not Layer 1. Many projects focus on specific niches like NFTs or gaming in the rapidly evolving blockchain landscape. What is Fantom’s main focus? MK: Fantom is a generalized smart contract platform that can be applied to various use cases. While it has gained recognition in the DeFi space, it is versatile and suitable for applications beyond DeFi. Gaming is one area where Fantom has shown promise. For instance, a recent game called S4 Kingdoms on Fantom has quickly become a top 10 game, emphasizing the platform’s potential in gaming. Fantom aims to cater to a wide range of applications, making it adaptable to evolving trends. How do you see the evolution of blockchain gaming, particularly in terms of integrating with traditional gaming, with an emphasis on improved user interaction and appeal over earnings? MK: Absolutely! Blockchain gaming is evolving towards greater user interaction and enjoyment, moving away from a sole focus on earnings. The power of blockchain gaming lies in users having true ownership of in-game assets and NFTs. Unlike centralized games, where a third party can censor or take away your assets, blockchain-based games offer peer-to-peer interactions governed by transparent smart contracts. This fosters a sense of ownership, freedom, and interoperability, which is the future of gaming. From a developer and creator perspective, what challenges and opportunities do blockchain NFTs bring, especially in terms of competition with cheaper alternatives? MK: Blockchain NFTs offer unique advantages like true ownership, transparency, and interoperability. While anyone can create NFTs, the value of an NFT is determined by the market and its rarity. Traditional in-game items have also been sold for substantial amounts even before blockchain. The key lies in creating NFTs that offer usability and appeal to users. Some NFTs may be valuable due to their rarity, while others may serve as common assets. Ultimately, the market decides the value of these digital artifacts. Interoperability seems to be a significant goal in the blockchain gaming space. How do you envision blockchain-based games achieving interoperability without compromising the uniqueness of their in-game assets? MK: Achieving interoperability without compromising uniqueness is a challenge. However, blockchain NFT standards allow for interoperability without sacrificing uniqueness. Not all NFTs need to interact with every game or smart contract. Developers can design NFTs to have specific interactions with compatible smart contracts or games while maintaining their uniqueness. It’s about striking the right balance to ensure NFTs can be used across multiple games. What are the future plans for Fantom and what should our readers be looking forward to? MK: Fantom’s focus for the future includes rolling out our new smart contract technology to enhance scalability and performance. We have already achieved significant improvements in storage size and throughput on our mainnet. Our aim is to provide a highly scalable platform where popular applications, including games, can run smoothly without scalability issues. Users and developers can look forward to a more efficient and developer-friendly Fantom network in the coming months. 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.

If the XRP price manages to break above $0.51 then a further rally to $0.55 is expected. Ripple is still planning to expand internationally despite the ongoing SEC pursuit. Ripple’s relentless resistance against the United States SEC continues to attract attention from the crypto community at large. The firm plans to keep moving forwards with key innovations and collaborations. Ripple is still planning to expand internationally despite the ongoing SEC pursuit and bearish market sentiments. According to David Schwartz, Ripple’s CTO, the arrival of an Automated Market Maker (AMM) has the potential to convert XRP’s renowned price volatility into yield. The AMM, which is a part of the latest upgrade to XRPLedger, is meant to capitalize on price fluctuations and increase demand for the cryptocurrency, particularly if its value declines. The majority of the interest this will generate will come from current XRP holders, which should lead to a net rise in purchasing pressure. Ripple released XRPLedger 1.12.0 earlier this week. All server operators were urged to upgrade to the new version so that they may participate in voting on proposed changes. There are several advantages to using this protocol, including the elimination of front-running and the introduction of a fresh method of liquidity provisioning. Can Bulls Drive Price Further? At the time of writing, the price of XRP is trading at $0.48, up 0.14% in the last 24 hours as per data from CMC. Moreover, the trading volume of XRP is down 22.49%. If the price manages to break above $0.51 then a further rally all the way till $0.55 is expected. Source: CoinMarketCap On the other hand, if the bears dominate and the price goes below the $0.47 support level, then a strong downturn is highly anticipated all the way till $0.33, which acts as a strong support level. Any positive or negative development in the ongoing SEC lawsuit will largely impact the impending direction of the price.

Building on its newly established presence in Brazil, Ramp, a financial technology firm creating payment rails linking cryptocurrencies to the world’s financial system, has added the Pix payment system of the Brazilian Central Bank as a mode of payment for crypto purchases made in Brazilian Real. By integrating Pix, Ramp has given all Brazilian citizens wishing to buy cryptocurrency a quicker, more affordable, and more practical payment alternative. Additionally, Ramp has given its partners access to the Brazilian market and the most popular payment method. Following the establishment of Ramp’s local firm in Brazil, the firm has integrated with Pix as a first step towards offering customers in Brazil and Latin America a quick, safe, and practical option to purchase and trade cryptocurrency. The company’s growth is an important step in achieving Ramp’s aim to make Web3 available to everyone, anywhere via a seamless and automated onboarding process. Brazilian customers will profit from Ramp and Pix’s very competitive BRL-to-crypto transaction value. Additionally, since Pix is a domestic payment option, it removes the risk and fees connected with international transactions, making domestic shopping easier and more affordable. In order to enable Brazilian citizens, businesses, and governmental bodies to make and receive payments instantly, especially on non-business days, the Central Bank of Brazil introduced Pix in 2021. Pix has eclipsed credit and debit cards to become the favorite digital payment option for more than 70% of Brazilians in less than two years after its inception. Ramp’s existence in the nation hence makes the inclusion of Pix support a logical progression from its current provision of card payments in USD and BRL. A quick connection to the user’s bank makes it easy to begin transactions with pre-filled forms, removing the need to manually create a transaction within banking applications. Pix is renowned for its fluid user experience. Additionally, Pix’s past data reveals a greater acceptance percentage for payments, improving user dependability. Pix’s enterprise-grade security safeguards and close to instantaneous settlements—where funds are transferred between parties in real time instead of taking some time to process and settle—amplify its frictionless user experience. Ramp provides a comprehensive suite for easy cryptocurrency onboarding, including on-ramp and off-ramp solutions that let consumers acquire cryptocurrencies with conventional money and rapidly and securely convert those digital assets back into fiat. Users will be able to purchase and sell coins directly inside the apps that developers build using Ramp’s solutions. The company’s offerings are accessible around the world, with on-ramp supported in more than 150 and off-ramp supported in more than 130 countries and territories, respectively.

SINGAPORE–(BUSINESS WIRE)–Circle Internet Financial (Circle) announced a partnership with Grab today to pilot Web3 customer experiences in Singapore through the integration of Circle’s new Web 3 Services platform in the Grab app. Available as the ‘Grab Web3 Wallet,’ Singapore-based users may set up a blockchain-enabled wallet, earn rewards and collectibles, and use non-fungible token (NFT) vouchers. To start, the Grab Web3 Wallet supports the use of the SG Pitstop Pack NFT vouchers at popular stores and adventures in Singapore during the upcoming F1 Singapore Grand Prix. “Circle is focused on partnering with global-scale consumer internet brands to bring everyday utility to users. Piloting our technology with Grab’s customers brings us closer to realizing the full potential of responsible digital assets innovation,” said Jeremy Allaire, Co-founder and CEO of Circle. Launched as a pilot for the SG Pitstop Pack, Circle’s collaboration with Grab supports the Monetary Authority of Singapore’s (MAS) Project Orchid initiative as a real-world demonstration of Purpose Bound Money. “Circle is thrilled to partner with Grab to accelerate adoption of blockchain-powered innovation and support Singapore’s forward-thinking vision as a leading global hub for responsible digital asset innovation,” said Dante Disparte, Chief Strategy Officer and Head of Global Policy of Circle. Circle Web3 Services aim to help both existing Web 2.0 internet companies and new pure-play Web3 startups to safely and easily bring the power of stablecoins, digital assets and smart contracts to consumer and enterprise applications. Circle continues to build momentum in Singapore, having previously obtained a Major Payment Institution (MPI) License from the MAS in June 2023, and officially opened its office in May. In February 2023, Circle collaborated with Tribe, the country’s first government-supported blockchain ecosystem builder, on a novel training and support program aimed at growing and upskilling the region’s Web3 developer talent pool. About Circle Internet Financial, LLC Circle Internet Financial, LLC (Circle) is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and Euro Coin – highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com. About Circle Programmable Wallets Circle Programmable Wallets application programming interface (“API”) is offered by Circle Technology Services, LLC (“CTS”). CTS is not a regulated financial services company and the API does not include financial, investment, tax, legal, regulatory, accounting, business, or other advice. For additional details, please click here to see the Circle Developer terms of service. Contacts For further information: Steph Pang [email protected]

Ethereum (ETH) investors are bracing for a turbulent ride ahead as a well-regarded crypto analyst casts a shadow of doubt over the smart contract platform’s future. In a recent report, Nicholas Merten predicts that Ethereum has less than a year to break free from an ascending triangle pattern, a technical indicator that holds significant implications for the cryptocurrency’s trajectory. The Enigma Of The Ascending Triangle Pattern In a nutshell, an ascending triangle pattern is a chart formation that typically indicates an impending breakout. It forms when the price of an asset reaches higher lows, forming a rising trendline (the ascending side of the triangle), while facing resistance at a horizontal level (the flat top of the triangle). The longer the pattern persists, the more pressure builds for a decisive price move, either upwards or downwards. Merten, a prominent voice in the crypto community, has been closely monitoring Ethereum’s performance against this crucial pattern. According to Merten, Ethereum’s inability to convincingly breach the resistance at around $2,000 is a cause for concern. “Ethereum cannot show up to the plate. It keeps getting shot down at around $2,000, and that’s okay for a while,” he emphasized.” But eventually, you’ve got to be able to either break out to the upside or, if you break through the ascending line of support to the downside, that spells bad news.” The Ethereum Exodus And Ambiguous Implications Meanwhile, a separate report has presented a puzzling trend that adds to the uncertainty surrounding Ethereum. Approximately 640,000 ETH has recently exited exchanges, a move that could be interpreted as a bullish sign. This outflow suggests that investors might be hoarding Ethereum for the long haul, anticipating a future price surge. However, caution is warranted. Ethereum’s long-term performance has not been impressive, with persistent bearish trends weighing it down. This raises questions about the credibility of the accumulation theory. While investors might be tempted to stock up on Ethereum at its current lower price point, they must tread carefully given the unpredictable nature of the cryptocurrency market. At the time of writing, Ethereum is trading at $1,619, displaying a 1.7% gain over the past 24 hours, yet nursing a 1.0% loss in the seven-day period, according to CoinGecko. The coming months will likely determine whether Ethereum will defy the odds, break free from its current constraints, and soar to new heights — or if it will succumb to the pressures outlined by Merten, leading to a collapse that could reshape the crypto landscape. (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 Daily Express

U.S. inflation in August exceeded expectations at 3.7%, the second consecutive month of rising inflation. Bitcoin (BTC) bounced back from the $25,000 to $26,500 range. Inflation in the United States surged to an annual rate of 3.7% in August, surpassing the consensus expectation of 3.6%, according to the latest Consumer Price Index (CPI) statistics released by the U.S. Bureau of Labor Statistics. This marks the second consecutive month of rising inflation, with the CPI rising from 3.2% in July and 3% in June, albeit still at the slowest rate of increase since March 2021. In the world of cryptocurrencies, FTX, a bankrupt cryptocurrency exchange, has received approval from the bankruptcy court to liquidate its crypto assets valued at a staggering $3.4 billion, indicating the ongoing challenges and volatility within the crypto industry. Amidst these economic challenges, the largest cryptocurrency, Bitcoin (BTC), has shown some positive momentum. Earlier this week, BTC found support at $25,000, and at the time of writing, it is trading at $26,284. In the early hours of the day, Bitcoin even touched levels of $26,500. Bitcoin (BTC) Price on Surge Over the past 24 hours, Bitcoin’s price has surged by more than 1.5%, and it has seen a 2.10% increase over the course of the week. These substantial gains have captured the attention of investors and traders alike. Analyzing the daily price chart, Bitcoin is currently positioned above several crucial support levels on the one-hour chart. Notably, it has breached a descending trendline. And the 50-day moving average has crossed above the 200-day moving average, a bullish sign in technical analysis. As of now, the BTC price continues to trade above these moving averages. Bitcoin (BTC) Price Chart (Source: TradingView) The Relative Strength Index (RSI) for Bitcoin stands at 56, indicating a neutral zone. This suggests that there is room for further price movement. Looking ahead, if Bitcoin manages to breach the key support level of $26,565 and maintains stability above this threshold, it could pave the way for an uptrend towards $28,000 and even $30,000. However, the possibility of bearish movements cannot be ruled out entirely. If the bears gain control, Bitcoin may experience a drop to $25,843 or potentially even lower, down to $25,200.

Dubai preparing for a web3 future with new regulatory frameworks for digital assets and the issuance of commercial licenses for web3 projects. World Blockchain Summit, an event by Trescon, returns to Dubai on 1-2 November 2023 at the Address Dubai Marina, with strategic partners like Dubai AI & Web3 Campus by DIFC, the largest cluster of Artificial Intelligence and Web3 companies in MENA. World Blockchain Summit serves as the nucleus of blockchain and Web3 innovation, bringing together leading investors, innovators, enterprises, thought leaders, founders, and influencers under one roof to discuss the latest innovations and technologies that are reshaping the blockchain and Web3 ecosystem. With an established digital landscape, fertile investment ecosystem, and innovative workforce, Dubai offers the perfect foundation for blockchain innovators and founders as we look past the 2022 crypto winter. The UAE government is also taking significant steps with initiatives like the Central Bank Digital Currency Strategy – the Digital Dirham, establishment of the Virtual Assets Regulatory Authority (VARA) Dubai, Dubai Blockchain Strategy, and Dubai AI & Web3 Campus by DIFC, which announced specialized commercial licenses for AI and Web3 projects, that further boost the implementation of blockchain-based solutions and digital asset proliferation in the economy. The summit is bringing together 2,000+ web3 decision-makers and also features the regional finale of the Startup World Cup organized by globally renowned US-based venture capital firm Pegasus Ventures, giving the winner the opportunity to pitch at the global finals hosted in San Francisco and a chance to win US$ 1 million in funding. #WBSDubai boasts engaging keynote speeches, use-case presentations by leading blockchain visionaries and experts, and insightful panel discussions on critical topics that dominate the space today. The key pillars of discussion at the summit include Web3 regulations, NFTs in music and entertainment, Web3 gaming, privacy in blockchain, tokenomics and more. Amongst the notable speakers at the event are: Julian Banks, CEO, Univox Amna Al Owais, Chief Registrar, DIFC Courts William Bao Bean, Managing Director, Orbit Startups Miriam Kiwan, Vice President, MEA, Circle Hasnae Taleb, Member of The American Chamber of Commerce| Partner & CIO -Ento Capital |TV Personality & Influencer, AmCham Abu Dhabi Arpit Sharma, Managing Director, Middle East, India, South East Asia Bill Qian, Chairman, Cypher Capital Aly Madhavji, Managing Partner, Blockchain Founders Fund “Dubai has proven itself as a global hub of innovation and technology, and the encouragement and implementation of key blockchain-based solutions are set to drive the national economy forward. At Trescon, we are committed to supporting our global cohort of founders, startups, and innovators and facilitating their access to qualified investors, enterprise stakeholders, and regulators through initiatives like the World Blockchain Summit. This summit is the perfect opportunity for top blockchain leaders and experts to share their insights and latest innovations that can redefine the blockchain landscape.” notes Sharath Ravi, CMO, of Trescon. The registration for the World Blockchain Summit Dubai is now open. Don’t miss the opportunity to book the early bird tickets today and gear up for yet another exciting blockchain and crypto event of the year. About World Blockchain Summit (WBS) World Blockchain Summit (WBS) is an event by Trescon that supports the growth of the blockchain, crypto and Web3 ecosystem globally. WBS is the world’s longest-running blockchain, crypto, and web 3-focused summit series. Since our inception in 2017, we have hosted more than 20 editions in 11 countries as we strived to create the ultimate networking and deal flow platform for the Web3 ecosystem. Each edition brings together global leaders and emerging startups in the space, including investors, developers, IT leaders, entrepreneurs, government authorities, and others. About Trescon Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients. To book your tickets, visit: https://bit.ly/special-access-wbs-dxb-pr1 For inquiries, Contact: [email protected] For media inquiries and further information, please contact: Shadi DawiDirector, Public Relations & Partnerships – MENA [email protected] +971 55 498 4989 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.

The much-anticipated biography of the world’s richest man, Elon Musk, recently dropped. As expected, it contains some interesting tales of Musk’s involvement with the meme coin Dogecoin and how he has contributed to its growth. Musk’s Love For Dogecoin Runs Deep Musk’s biography, authored by Walter Isaacson, contains certain important parts that highlight how much the world’s richest man is invested in the token. In one part, Isaacson writes that Musk’s brother discussed the possibility of creating a blockchain-based social media platform that would include a payment system using Dogecoin. Musk thought it was a great idea and even sent his brother an idea for “a blockchain social system that does both payments and short messages like Twitter.” Considering that it will be decentralized, Musk stated that it will guarantee free speech (something which Musk has continuously advocated for). The other option that Musk mentioned instead of this idea was to buy Twitter, which he eventually did. However, considering that the initial idea was to create a decentralized social system with Dogecoin being an integral part of the payment system, it won’t be surprising to see Musk incorporate the meme coin into the payment system he intends to build on the X (formerly Twitter) platform. Musk is known to post cryptic memes about Dogecoin usually. Still, his wittiness towards the meme token doesn’t stop there, as he went as far as purchasing a Shiba Inu dog named Floki, which happens to be Dogecoin’s logo. In February, he posted a tweet of this pet dog with the caption, “The new CEO of Twitter..” According to the book, FTX’s CEO Sam Bankman-Fried (SBF) was in support of Musk acquiring Twitter as he believed that Twitter could be rebuilt on the blockchain and was “eager” to be part of the deal. Last year, Musk confirmed that SBF wanted to finance his Twitter takeover, but he wasn’t so inclined to the idea as SBF had “set off his bullshit meter.” The world’s richest man considered the idea of using blockchain technology as a support system for Twitter. However, it seems that Musk’s love for Dogecoin didn’t translate to him being a huge fan of blockchain technology. Isaacson stated that “despite the fun he had with Dogecoin and other cryptocurrencies, he was not a blockchain acolyte and he felt it would be too sluggish to support fast-paced Twitter postings.” DOGE Is An Investment Beyond his fondness for the meme token, Musk is reportedly invested in Dogecoin’s development. A page in the book revealed that Musk had been funding the cryptocurrency, with Isaacson labeling Dogecoin “the semi-serious cryptocurrency whose development he [Musk] had been quietly funding.” As such, it won’t be surprising to see Musk work towards ensuring that the meme token attains new heights, with a prominent member of the Dogecoin community positing that Elon Musk will make the token “the official currency of X and earth in the future.” While this may seem farfetched to many, Musk is already taking steps that could place Dogecoin on the global stage. His X platform recently acquired licenses to offer payment services in multiple states in the US. This move could undoubtedly form part of Musk’s plans to create a payment system where users make payments in DOGE. DOGE is currently trading at around $0.06145, up by 0.50% in the last twenty-four hours, according to data from CoinMarketCap.

Polygon Labs announced today the roll out of their ambitious Polygon 2.0 implementation. The announcement, made via a tweet, marks the release of three pivotal Polygon Improvement Proposals (PIPs) and a detailed roadmap for phase 0. “The wait is over. Polygon 2.0 implementation kicks off now,” the tweet reads, signaling the beginning of a new era for the platform. Earlier this summer, Polygon Labs had unveiled their vision for Polygon 2.0, a roadmap that aims to scale Ethereum blockspace to create what they term as the “Value Layer of the Internet.” This transformative vision promises unlimited scalability and unified liquidity. To bring this vision to fruition, a series of upgrades to the Polygon protocol architecture are imperative. Phase 0, announced today, is the first step in this direction. Phase 0 focuses on four main upgrades to the protocol: The transition from MATIC to POL. Establishing POL as the native (gas) token for PoS. Designating POL as the staking token for PoS. The introduction of the Staking Layer, a feature that will empower validators to secure a diverse range of chains within the evolving Polygon 2.0 ecosystem. What Phase 0 Of Polygon 2.0 Brings Polygon Labs has indicated that if the community endorses these proposals, the implementation could begin as early as the fourth quarter of this year. It’s noteworthy that the changes detailed in the first three PIPs are designed to be seamless, ensuring no disruptions for end-users at this stage. An official blog post, also released today, provides deeper insights into the transformative journey of Polygon 2.0, which was first introduced to the public in June. This set of proposed enhancements seeks to revolutionize nearly every facet of the Polygon ecosystem. The three PIPs released today offer a comprehensive blueprint for phase 0. Their goal is to construct a network of interconnected zero-knowledge-powered L2 chains, effectively scaling Ethereum to the vast expanse of the Internet. Central to these PIPs is the transition process, the specifications for the revamped token of the Polygon 2.0 architecture, and crucial updates to the Polygon PoS native token. PIP-18, titled “Polygon 2.0 Phase 0,” offers a comprehensive overview of the initial phase, detailing the upgrades that will be further elaborated upon in subsequent PIPs. The milestones of phase 0 are crafted with the user in mind, ensuring minimal disruptions for those already operating on Polygon PoS and Polygon zkEVM chains. Meanwhile, PIP-17 delves into the intricacies of the POL token, outlining the associated contracts that will oversee its emission and migration. The POL token is not just a new name; it represents a next-generation token designed to accommodate an ecosystem of ZK-based Layer 2 chains, enabling staking, community ownership, and governance. Lastly, PIP-19 focuses on the transition of the native gas token on Polygon POS from MATIC to POL. This transition is designed to ensure maximum compatibility with existing systems, with the native token’s properties remaining unchanged. MATIC Price Analysis The MATIC price currently remains in a downtrend channel that saw its beginning in mid-February this year. MATIC hit its yearly high of $1.56 on February 13 and has fallen 68% since then. However, a look at the 1-week chart shows that there is hope for MATIC bulls. At the time of writing, MATIC was trading at 0.5184. All it would take to breathe new life into the MATIC price is a move above $0.5855. This price level marks the 78.6% Fibonacci retracement level, in addition, a move above this price would signify a breakout from the downtrend channel. The bulls could regain the upper hand and target the 20-week EMA at $0.7007. Another key resistance level is at $0.7698, where the 200-day EMA is located. A rise to this price level would already represent a 45% rally. As then, the 50% Fibonacci retracement level at $0.9435 could be targeted by the bulls. Major selling pressure can also be expected at $1.27 (23.6% Fibonacci retracement level) before the yearly high would be within reach. Polygon 2.0 clearly has the potential to awaken the bulls from their slumber. However, the $0.5855 price level is the critical key. If MATIC fails at this price level, a sweep of 65-week low at $0.3177 could loom.

The price of Bitcoin has fluctuated over the past month, but BitMEX co-founder Arthur Hayes is the latest crypto expert to make a bullish forecast for the asset. According to the former CEO of the cryptocurrency exchange BitMEX, Bitcoin could reach $70,000, and the only reason the asset is not yet at this price is because investors are fixated on the Fed’s nominal rate. Bitcoin Can Still Rise 150% Various predictions have come in regarding Bitcoin, with some being more bullish than others. As for Hayes, he made his case regarding BTC in his Crypto Trader Digest blog post in light of various actions by the US Federal Reserve to curb inflation. Since March 2022, the Fed has raised interest rates multiple times, causing many investors like Hayes to reconsider their predictions regarding the outlook of Bitcoin. In the blog post, Hayes shared several metrics relating to the US treasury yield and GDP growth. Hayes began adjusting his forecasts by disputing the widely held belief that BTC’s value is negatively correlated with rising interest rates. A new outlook shows that the government’s spending rates and the current growth of GDP have driven down the actual treasury yield on 5% government bonds closer to 4%, making risky assets like BTC and stocks still attractive. Hayes believes the Fed will be able to continue down this path of raising rates, and investors’ search for positive real yields in response to this has translated into a bullish market for Bitcoin which began in March 2023. However, although Bitcoin is up by close to 29% since then, most of the market is still yet to catch on as everyone is focused on the nominal Fed rate and not the real rate. “The reason why we aren’t at $70,000 is that everyone is focused on the nominal Fed rate, and not on the real rate when compared to the U.S.’s eye-poppingly high nominal GDP growth.” BTC Price To $70,000? While speaking at the Korea Blockchain Week, Hayes mentioned that the next Bitcoin bull market started on March 10, the day the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank (SVB). Hayes has actually made similar predictions regarding Bitcoin. Back in March 2020, the pundit made a prediction Bitcoin could rise from $8,000 and reach $20,000 by the end of the year. BTC’s price would later close the year 2020 at around $27,000. The BitMEX co-founder has previously expressed his discomfort on Spot Bitcoin ETF, from investment companies like BlackRock, calling them “crypto gatekeepers” who are only looking to balance their deposit base. However, Hayes believes a catchup by the market would Bitcoin survive more interest rate raise from Fed to skyrocket more than 150% from its current level by early 2024. At the time of writing, Bitcoin is trading at $26,320 and is up by 2.27% in a seven-day timeframe.

Dogecoin (DOGE) has had its share of ups and downs. Recently, as the altcoin market experienced a significant selloff, DOGE found itself caught in the turmoil, succumbing to substantial outflows earlier in the week. This downturn had a critical consequence, as it sent the coin’s price plummeting below a crucial support trendline that had been instrumental in propping up DOGE for over three weeks. As the market sentiment shifted, this breakdown raised concerns about the future trajectory of Dogecoin, hinting at a possible continuation of the downtrend and further price declines. Dogecoin Breakdown And Retest On a fateful Monday, DOGE’s price decisively breached the support trendline, taking a nosedive to reach a low of $0.0593. However, the cryptocurrency market is known for its swift and unpredictable moves, and DOGE was no exception. Bulls promptly rallied, pushing the price up in a retest of the very trendline that had turned into resistance. At the time of writing, the current DOGE price stands at $0.061452, with a 24-hour gain of 0.5% and a seven-day dip of 3.0%. The critical question now is whether this retest phase will demonstrate the sustainability of DOGE’s price below the trendline. If it does, the outlook for Dogecoin, according to a price analysis, remains uncertain, with the potential for an additional decline of approximately 8%, targeting the $0.056 zone. Traders and investors are keenly watching this juncture, as it may dictate DOGE’s short-term future. Longer-Term Assessment On The Meme Coin Beyond the immediate challenges, some analysts have offered a longer-term perspective on Dogecoin. A separate report suggests a Dogecoin price prediction of $0.10 by the time the next decade rolls around, representing a major 68% increase. This prediction raises eyebrows, considering DOGE’s history of meteoric rises. However, it’s essential to remember that past performance in the fast-paced crypto world doesn’t always indicate future results. The Dogecoin Dilemma While Dogecoin undeniably boasts a loyal fanbase and a handful of celebrity endorsements, it hasn’t showcased the same level of aggressive growth strategy or innovative features as some of its younger counterparts, like Shiba Inu. As the cryptocurrency landscape continues to evolve, DOGE faces the challenge of staying relevant and competitive in a field where innovation and adaptability are highly prized. And, as Dogecoin finds itself at a critical juncture, its price is teetering on a support-turned-resistance trendline. The broader altcoin market’s performance and investor sentiment will likely play a pivotal role in determining DOGE’s near-term fate. (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 iStock

Solana trading volume saw a 44% spike in the past 24H. FTX approved to sell $3.4B crypto assets in bankruptcy proceedings. One of the major topics of discussion in the crypto world today revolves around the collapsed digital asset exchange FTX, which has received approval from Judge John Dorsey overseeing its bankruptcy proceedings to sell billions in crypto assets. This development allows FTX to proceed with the sale of $3.4 billion in assets, including Solana, Ethereum, Bitcoin, and other cryptocurrencies, by the U.S. Bankruptcy Court for the District of Delaware. In their plan to offload these assets, which was initially outlined in August, FTX has appointed Mike Novogratz’s Galaxy Digital as the investment manager responsible for overseeing the sale. According to the plan, FTX will limit its weekly token sales to $100 million, with the possibility of increasing this limit to $200 million for individual tokens. In response to this news, Bitcoin experienced a modest uptick of 1.28% in the past 24 hours, despite the prevailing bearish sentiment in the market. On the other hand, Solana (SOL), which had previously shown hesitancy in achieving significant gains, saw a notable surge of 6% within the same 24-hour period. Interestingly, SOL’s trading volume surged by 44% during this timeframe, whereas Bitcoin’s trading volume dipped by 14.15%. Bearish Sentiment Prevails It’s worth noting that Solana had faced a bearish month, with a 24% decline in the last 30 days. The current surge in SOL’s price can be seen as a recovery phase. SOL/USDT Daily Price Chart — MA, RSI (Source: TradingView) Analyzing SOL’s price movements on daily charts, it becomes evident that the cryptocurrency is currently under bearish dominance despite the recent uptick. The 50-day exponential moving average (EMA) stands at $21, indicating the prevailing bearish sentiment. Additionally, the daily relative strength index (RSI) sits at 39, suggesting that the asset is nearing oversold territory. As of now, SOL is trading at $18.68 as per data from CMC. If the price breaks below the $17.5 support level then further decline is highly likely. On the other hand, if the bulls drive the price above the $20.5 resistance level then a fresh rally is on the cards.

Bitcoin price managed to rise all the way till $26,300. The CPI data will impact the Fed’s decision to raise interest rates in the future. U.S. inflation reached 3.7% annually in August, according to the latest CPI statistics issued today by the U.S. Bureau of Labour Statistics, which beat the consensus expectation of 3.6%. Inflation has risen for two months in a row, according to the most recent figures. The Consumer Price Index (CPI) rose 3.2% in July, from 3% in June, marking its slowest rate of increase since March 2021. After a rise of 0.2% in July, inflation increased 0.6% in August on a seasonally adjusted basis. Investors were anticipating the publication of the CPI data because of its potential impact on the Federal Reserve’s decision to raise interest rates in the future. All Eyes on Federal Reserve It’s worth noting that the Fed of the United States raised interest rates by 25 basis points the previous month. Investors were nonetheless wary, even though many experts predicted the Fed would soften its hawkish stance. The CPI was expected to be 3.6% by Wall Street giants. While Barclays and Citi expected a 3.7% rise in the CPI for the last month, Visa and CIBC were anticipating a 3.5% spike. The CME FedWatch Tool predicted a 91% chance of a pause from the Federal Reserve at the forthcoming FOMC meeting on September 20. The crypto market turned green post the announcement. Bitcoin price managed to rise all the way till $26,300. Moreover, Ethereum managed to climb to $1615 as per data from CMC. Highlighted Crypto News Today: FTX Secures Court Approval for $3.4B Asset Liquidation Plan

The crypto market reacted positively to the recent U.S CPI data release. If the ETH price falls below the $1541 support level, then a fresh decline is highly anticipated. Vitalik Buterin, co-founder of Ethereum, spoke with David Hoffman at Blockworks’ Permissionless event recently, outlining his hopes for Ethereum and the larger Web3 ecosystem. Buterin said that existing advancements in the blockchain field, such as DeFi and NFTs, are vital but relatively restricted in magnitude, and he called for more innovative thinking. To ensure that user interaction in decentralized social networks is authentic and not controlled, Buterin emphasized the significance of developing sybil-resistant systems. In contrast to the current Web2 scene, the co-founder emphasized the potential of crypto-based solutions to improve decentralization, privacy, and security. Buterin’s vision for the future, highlights the adaptability of Ethereum and the promise of Web3 to usher in a more decentralized, and secure digital ecosystem. Brief Recovery The crypto market reacted positively to the recent U.S CPI data release. According to the Consumer Price Index (CPI) report from the U.S. Bureau of Labour Statistics, annual U.S. inflation hit 3.7% in August, above the consensus estimate of 3.6%. Bitcoin managed to climb all the way to $25,540. Ethereum also witnessed an uptick with the price reaching $1636. However, the price faced resistance at this point. At the time of writing ETH is trading at $1620 and is up 1.69% in the last 24 hours. Source: CoinMarketCap If the price manages to break above the recent high of $1636 then it will test the next resistance level at $1655. Contrarily, if the price falls below the $1541 support level, then a fresh decline is highly anticipated. The price will then likely test the $1431 support level.