ALPHARETTA, Ga.–(BUSINESS WIRE)–Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will participate in three upcoming investor forums in September. Management will attend: 3rd Annual Needham Virtual Crypto Conference on September 7, 2023. Chief Executive Officer, Gavin Michael, will participate in a presentation beginning at 10:40 AM ET. Management will also be hosting one-on-one investor meetings. H.C. Wainwright 25th Annual Global Investment Conference on September 11, 2023. CEO, Gavin Michael, will participate in a presentation. Management will also be hosting one-on-one investor meetings. Rosenblatt 16th Annual Global Exchange Leader Conference on September 21, 2023. CEO, Gavin Michael, will participate in a panel discussion. Management will also be hosting one-on-one investor meetings. Interested parties can listen to any available live audio webcast presentations from the investor relations section of the company’s website at www.bakkt.com. A replay will also be available after the events. About Bakkt Founded in 2018, Bakkt builds solutions that enable our clients to grow with the crypto economy. Through institutional-grade custody, trading, and onramp capabilities, our clients leverage technology that’s built for sustainable, long-term involvement in crypto. Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | X (Formerly Twitter) @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/. Bakkt-C Contacts Investor Relations Ann DeVries, Head of Investor Relations [email protected] Media [email protected]

CYBER trading volume is down 27% in 24H. Bullish trend indicated by EMA, RSI at 71, facing $9.326 resistance. Launched on August 15th, the new cryptocurrency, CyberConnect, is causing a stir with its remarkable surge. Although all coins received a boost from the Grayscale Bitcoin Trust (GBTC) victory over the SEC, they eventually retracted back into the red zone on the chart. However, CYBER, which surged from $3.5937 to $8.0475, is defying this trend and continues to ride high as it kick-starts its bullish rally. As of now, its price stands at $8.48, reflecting a 19% surge over the past 24 hours. According to CoinMarketCap, it has taken the top spot in the trending chart due to its performance. The platform offers developers the opportunity to create social tools that prioritize user ownership of digital identities, content, and interactions. Notably, it reached a peak of $18 on August 15th, only to drop to $1.81 on the same day. Amid this volatile start, the currency still needs to establish trust among investors. The trading volume has dipped by 27%, currently resting at $462 billion, while the market capitalization is surging by 17.19%, reaching $94 billion. The circulating supply stands at 11.08%, with 11 billion CYBER tokens in circulation. Will CYBER Continue its Bullish Momentum? An analysis of CYBER’s recent price movements reveals an ongoing bullish trend on the daily chart. The short-term 9-day exponential moving average (EMA) at $6.047 signals the prevailing bullish sentiment. The Relative Strength Index (RSI) hovers at 71, suggesting that the asset is overbought. CYBER 1D Price Chart, Source: CoinMarketCap Analysts indicate that CYBER currently encounters resistance at $9.326, while finding support around $7.99. It’s worth noting that the current levels lack significant volume, making the sustainability of the rally challenging.

Shiba Inu (SHIB) enthusiasts are keeping a watchful eye on the coin’s price movements as it inches closer to a crucial juncture in the last day of August. The latest indications from the market suggest that a potential breakout opportunity might be on the horizon, hinting at an imminent directional shift. The ongoing consolidation phase is taking the form of a symmetrical triangle pattern. This pattern, marked by two converging trendlines, signifies a period of uncertainty in the market, often followed by a notable price movement. On August 29, a notable surge in Bitcoin’s price set off a chain reaction across the crypto market, prompting a 2.8% jump in Shiba Inu’s value. This push aimed to break the coin free from its protracted consolidation phase. However, the rally faced resistance near the $0.00000845 mark, forcing the meme coin back into the confines of the triangle pattern. As of the latest data, the SHIB price stands at $0.00000816, with a 1.0% decline in the past 24 hours and a 2.0% loss over the past seven days. Shiba Inu Triangle Pattern Unveiled The triangular pattern taking shape on the charts is a recurring technical formation in the world of trading. It signals a period of indecision among investors as the price fluctuates within the converging trendlines. This phase is often followed by a breakout, where the price ventures beyond one of the trendlines with significant momentum, indicating the potential for a new trend to emerge. Amidst the price contemplation, Shiba Inu enthusiasts have found reason to rejoice with the relaunch of Shibarium, the Layer 2 blockchain associated with the SHIB ecosystem. Within days of its official reactivation, Shibarium is already making great strides, sparking enthusiasm within both the SHIB community and generating anticipation for a potential surge in SHIB’s value. In a tweet, Lucie, a prominent figure within the Shiba Inu team, predicts that Shibarium’s impact will become evident over the next eight to 12 months. Shedding light on the details, Lucie emphasizes how Shibarium’s functionalities will aid in reducing the circulation of SHIB tokens. Anticipating The Meme Coin’s Next Move As SHIB clings to the edge of the symmetrical triangle, traders and enthusiasts alike are bracing for the impending breakout. The crypto community’s gaze is fixed on the emerging trendlines, waiting to witness whether the price momentum will gather enough strength and hit $0.00001. (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 Rumble via Yahoo!

Shibarium has only been live for a few days but is already showing early signs of success. The Ethereum layer-2 scaling solution, which hopes to provide lower gas fees and faster transaction times for the Shiba Inu community, has seen some impressive growth numbers in terms of Total Value Locked (TVL). TVL Crosses $1.4 Million Since Shibarium launched its mainnet, the total value deposited in the network has skyrocketed. The TVL recently crossed $1.4 million, indicating strong interest in the new chain. Data from DeFi TVL aggregator DeFiLlama shows that the total TVL in Shibarium has grown to $1.42 million in the past two days. While this amount is small when compared to the total DeFi TVL of $38.731 billion, the rapid growth demonstrates the potential that Shibarium possesses. A look through DeFiLlama shows that Shibarium currently has seven protocols. The DEX DogSwap with a TVL of $794,582 accounts for most of the total TVL. Other protocols on the chain are MARSWAP, Woof Finance, WoofSwap, Shibex, LeetSwap, BoneDex, and yield farm ChocoInu. Shibarium’s growth piggybacks on the vast community Shiba Inu has gathered in the past few years. But the network did witness some hiccups before its launch, as PeckShield reported that a total of $1.7 million was stuck on the bridge. Just hours after its launch, the network witnessed a flurry of user traffic, causing it to be temporarily shut down. However, this has been resolved as Shibarium developer Kaal Dhairya explained this was a fail-safe to ensure the safety of the funds. As of the time of writing, block explorer Shibariumscan shows that there have been a total of 599,554 transactions from 444,134 wallets averaging a daily transaction count of 68,402. Will Shibarium Translate To A Higher Price For SHIB? SHIB’s price has always reacted positively to Shibarium developments. Prior to its launch, the Shiba Inu ecosystem witnessed massive withdrawals from exchanges as many investors opted for self-custody in hopes of what the Shibarium launch might bring. SHIB also saw a jump in price after lead developer Shytoshi Kusama teased Shibarium’s launch on a social media post. It would appear, however, that the launch of Shibarium hasn’t really translated into a price spike for SHIB. At the time of writing, the token is trading at $0.000008178 and is down by 1.28% and 1.73% in the past 24 hours and seven days respectively. With the recent slump in crypto markets, Shibarium’s early success is a bright spot. This early success of Shibarium could potentially boost the price of Shiba Inu. As investors see the rapid growth in total value locked (TVL) on Shibarium, interest in the supporting SHIB token may increase.

MIAMI–(BUSINESS WIRE)–U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC” or “the Company”), a leading operator of large-scale data centers for new-age workloads such as digital asset mining, is thrilled to announce that it has secured a deal with Celsius Network LLC (“Celsius”) to host an initial 8,500 miners with an estimated sticker hashrate of 820 petahash (PH) at the USBTC Alpha Site. This significant agreement represents a robust advancement in the Bitcoin mining industry and continues the strong collaboration between USBTC, and Celsius, with support from the Fahrenheit, LLC coalition (“Fahrenheit”) which includes USBTC, Arrington Capital, Proof Group Capital Management, Steven Kokinos, and Ravi Kaza. Asher Genoot, USBTC President, shared his thoughts on this new venture, saying, “The opportunity to manage the Celsius assets marked a defining milestone. As we drive forward in conjunction with Fahrenheit, we’re embarking on a new chapter that builds upon that success. The synergy between USBTC, Celsius, and Fahrenheit represents our commitment to redefining the mining industry. Together with Fahrenheit, we envision a future where Bitcoin mining is not just profitable but sustainable and industry-advancing.” The Alpha Site has been selected for its environmentally-friendly energy profile and strategic geographical location, allowing for an efficient and eco-friendly mining operation. This new arrangement supplements the existing hosting agreements with companies like Teslawatt, Marathon Digital, Foundry USA, Sphere 3D, and Decimal Group. In aggregate, the Company anticipates managing a fleet of more than 310,000 bitcoin miners including miners owned by Celsius, other clients, and its own machines. The parties are working diligently to complete the implementation of the deal and begin operations as soon as possible, reflecting a shared dedication to capitalizing on this partnership leveraging experience gained from management of its infrastructure operations (MIO) business. Celsius Mining Operations On May 25, 2023, the Company, as part of the Fahrenheit LLC coalition, was selected as the winning bidder in the official auction in Celsius’ chapter 11 cases to manage and operate the assets owned by Celsius, which includes a lending portfolio, digital assets, and approximately 122,000 mining machines, subject to the approval of the bankruptcy court and confirmation of a chapter 11 plan. In addition, the Company, acting separately through its USMIO business, won the right to enter into one or more operating and services agreements with the restructured company, which is also subject to the approval of the bankruptcy court. The Company previously announced that it had secured hosting agreements for approximately 150,000 bitcoin miners. These companies include Teslawatt, Marathon Digital, Foundry USA, Sphere 3D, and Decimal Group. In aggregate, the Company expects to manage a fleet of more than 310,000 bitcoin miners across Celsius and hosted assets. Merger with Hut 8 On February 7, 2023, the Company announced an all-stock merger of equals (the “Transaction”) with Hut 8 Mining Corp. (Nasdaq, TSX: HUT), one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure providers. The combined company will be named “Hut 8 Corp.” (“New Hut”) and will be a U.S.-domiciled entity. The Transaction is expected to establish New Hut as a large-scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices. About US Bitcoin Corp Founded by a team of visionary entrepreneurs and experienced executives, USBTC is an efficient, eco-friendly, and large-scale North American mining company. Through cutting-edge technology and a relentless commitment to operational excellence, USBTC seeks to set the standard for what is possible in its industry. With campuses in New York, Nebraska, and Texas, USBTC aims to monetize electrons at scale, operating hundreds of megawatts of Bitcoin mining infrastructure both independently and on behalf of clients. USBTC prides itself on deploying next-generation software and hardware innovations to deliver results across its self-mining, hosting, and site management verticals. To learn more, visit https://usbitcoin.com/ or contact Matt Prusak at [email protected] About Celsius Celsius is a global cryptocurrency platform and a well-recognized leader in Bitcoin mining. For additional information on the company, please visit http://www.celsius.network. For additional information on Celsius’ ongoing chapter 11 cases, please visit http://www.cases.stretto.com/celsius. Cautionary note regarding Forward–Looking Information This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward looking information”). All information, other USBTC or Hut 8 Mining Corp. (“Hut 8”) expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of each company’s businesses, operations, plans and other such matters is forward-looking information. Forward looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. In addition, any statements in this communication that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among others, statements with respect to: (i) the expected outcomes of the transaction, including New Hut’s assets and financial position; (ii) the ability of Hut 8 and USBTC to complete the transaction on the terms described herein, or at all, including, receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other closing customary conditions; (iii) expectations related to the Celsius transaction, including the closing thereof and any required legal approvals and the expected impact on our business and miners and hashrate under management (iv) the expected synergies related to the transaction in respect of strategy, operations and other matters; (v) projections related to expansion; (vi) expectations related to New Hut’s hashrate and self-mining capacity; (vii) acceleration of ESG efforts and commitments; and (viii) the ability of New Hut to execute on future opportunities, among others. Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by USBTC and Hut 8 as of the date of this communication, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the ability to obtain requisite shareholder approvals and the satisfaction of other conditions to the consummation of the transaction on the proposed terms or at all; the ability to obtain necessary stock exchange, regulatory, governmental or other approvals in the time assumed or at all; the anticipated timeline for the completion of the transaction; the ability to realize the anticipated benefits of the transaction or implementing the business plan for New Hut, including as a result of a delay in completing the transaction or difficulty in integrating the businesses of the companies involved (including the retention of key employees); the ability to realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact on mining activities; the potential impact of the announcement or consummation of the transaction on relationships, including with regulatory bodies, employees, suppliers, customers, competitors and other key stakeholders; security and cybersecurity threats and hacks; malicious actors or botnet obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; internet and power disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; climate change; currency risk; lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements; potential for interrupted delivery, or suspension of the delivery, of energy to New Hut’s mining sites; failure of the Celsius transaction to receive the necessary legal approvals or failure of the Celsius transaction to otherwise close; and failure to achieve the intended benefits of the Celsius Transaction and expected impact on USBTC’s business and miners and hashrate under management. Contacts Matt Prusak [email protected]

Bitcoin Trading Volume dips below 55% in the past 24H. Bloomberg analysts see a 75% chance of Bitcoin ETF approval this year. After celebrating a significant victory against the United States Securities and Exchange Commission (SEC), which aimed to transform the Grayscale Bitcoin Trust (GBTC) into a publicly listed Bitcoin exchange-traded fund (ETF), the charts of the major crypto Currencies turned green. However, in a surprising turn of events, the coins quickly reverted to their previous red chart days. This was especially noticeable in the case of Bitcoin, the leading coin by market capitalization , which surged by over 5.67% yesterday, only to decline by 0.82% in the past 24 hours. Despite this decline, the bullish momentum gained on August 29 from the victory which let itsurge from $25,912 to $28,089 ,helped Bitcoin maintain its overall positive trajectory. It’s important to note that Bitcoin had been under the influence of strong bearish dominance for over two months. Meanwhile, shockingly, Bitcoin’s trading volume, which ranks second on the chart just after Tether, experienced a significant decline of 55% in the past 24 hours. Analysts suggest that Bitcoin’s inability to break the $30,000 mark might have negatively affected investor sentiment. It leading to confusion about whether the bullish surge triggered by the victory could potentially be overcome by bearish forces. Bullish Hope On the other side, within the community, a strong sense of bullish optimism persists. This is particularly fueled by the imminent approval of a Bitcoin ETF, which has garnered favor and anticipation. Industrial experts contribute to this bullish sentiment through their analyses and opinions. Notably, analysts at Bloomberg have increased the likelihood of an approved spot Bitcoin ETF by the end of 2023 following Grayscale’s victory over the federal securities regulator. In an August 30 post on X (earlier Twitter), Bloomberg senior ETF analyst Eric Balchunas mentioned that the probability had been raised from 65% to 75% due to the unanimous and decisive nature of the recent United States Court of Appeals Circuit decision in favor of Grayscale. Bloomberg analysts James Seyffart and Elliot Stein added in a separate note that the judges’ unanimous rejection of the SEC’s arguments. And the agency’s potential struggle to justify further denials contribute to this increased likelihood. Furthermore, United States presidential candidate Vivek Ramaswamy applauded Grayscale’s victory He criticized the “shadow” U.S. government. And attributed the victory to the U.S. courts’ role as a last line of defense to retain cryptocurrency innovators within the country. Will Bitcoin Experience a Bullish Rally? An analysis of Bitcoin’s recent price movements highlights an ongoing bullish trend on the daily chart. The short-term 9-day exponential moving average (EMA) at $26,850 indicates prevailing bullish sentiment, similar to Bitcoin priced at $27,237. The Relative Strength Index (RSI) hovers at 47, suggesting a neutral zone. BTC Price Chart, Source: TradingView Bitcoin’s recent breakout on August 29 has resolved its range to the upside. This suggests that the price may fluctuate within the wide range between $24,800 and $31,000 for some time. If buyers can defend the breakout level of $26,833 and convert it into support, this will signal bullish strength. The BTC/USDT pair might initially rise to the 50-day simple moving average (SMA) at $28,689. And then attempt a rally towards $31,000. On the other hand, if bears manage to push the price below $26,833, it would indicate their dominance. And a tendency to sell during recovery attempts. In this scenario, the pair could potentially retest the robust support level at $24,800. Will BTC be able to sustain the bullish momentum? Share your thoughts by tweeting us at @The_NewsCrypto

SEC chair Gary Gensler has already called all cryptocurrencies except Bitcoin as security. Both the SEC and the CFTC have earlier argued over authority. In dismissing a class action lawsuit against the DEX, Uniswap, a judge in the United States District Court described Ether as a commodity. On August 30, Judge Katherine Polk Failla dismissed a lawsuit filed by Uniswap users who claimed they lost funds on the platform owing to scam tokens by declaring ETH and BTC to be “crypto commodities.” The judge mentioned that she was not persuaded by a dispute that Uniswap’s token sales were within the purview of the Exchange Act because of this difference. Judge Failla, interestingly, is also presiding over the SEC’s case against crypto exchange Coinbase. She has also managed other cryptocurrency concerns before, such as the one between Tether and Bitfinex. Moreover, other justices have already reached rulings on cryptocurrencies, such as a July order that categorized XRP as not a security when sold on the secondary market. Dispute Over Authority In recent years, the SEC and the CFTC, have argued over which agency has authority in regards to cryptocurrencies. SEC chair Gary Gensler has already called all cryptocurrencies except Bitcoin as security. The Commodity Futures Trading Commission (CFTC) on the other hand has sued Binance for violating the Commodities Exchange Act, claiming that ETH and other cryptocurrencies are commodities. U.S. legislators have not yet decided whether the SEC or CFTC would be given jurisdiction over cryptocurrencies. There are a number of proposals making their way slowly through Congress with the goal of providing legislative certainty in regards to the sector. Highlighted Crypto News Today: Ethereum Price Consolidates Around $1700; Traders Await Breakout

Davies’s application to appear pro hac vice was granted by Judge Amy Berman Jackson. The SEC earlier has asked the court for permission to submit a sealed document. A new attorney for Binance.US has been granted by a federal court in the U.S. SEC case involving Binance, its U.S subsidiary and CEO Changpeng Zhao. On August 30, Andrew Rhys Davies, an attorney representing Binance.US, filed a notice of presence in the ongoing SEC litigation. Davies’s application to appear pro hac vice in the case was granted by Judge Amy Berman Jackson. In the case of Binance v. SEC, Judge Jackson previously requested that Davies make an appearance by filing a notice of presence. An attorney has reportedly been brought in as Binance.US files for a restraining order against the SEC for going beyond the terms of the consent decree. Judge Amy Jackson submitted Binance.US’s request for a protective order to Magistrate Judge Faruqui for adjudication. Struggle Continues for Binance While this is going on, the SEC earlier has asked the court for permission to submit a “document under seal,” which many in the industry think pertains to claims of money laundering or other possible criminal activity. Since Binance and its U.S. subsidiary have disregarded the previously agreed upon terms, the securities regulator is likely planning to increase its action against them. John Reed Stark, a former SEC official, speculates that the SEC may announce a criminal investigation or prosecution by the U.S. DOJ against Binance. It might endanger a firm or a witness as well. However, these are just speculations, and no official information has been shared. Highlighted Crypto News Today: Bitcoin’s Upward Trend Faces Hurdle as Trading Volume Shrinks

Despite the introduction of Shibarium, the value of Shiba Inu (SHIB) is falling. Similarly, EOS (EOS) is also experiencing a decline after showing support for its community members amidst allegations of misconduct by Block.one. On the other hand, VC Spectra (SPCT) continues to outpace the well-established projects by offering an expected 220% ROI despite the prevailing bearish market conditions. >>BUY SPCT TOKENS NOW<< Shiba Inu (SHIB) Plummets Amidst Market Volatility On August 16, 2023, Shiba Inu (SHIB) announced the introduction of Shibarium, a layer-2 blockchain aimed at enhancing the Shiba Inu (SHIB) ecosystem. Shibarium seeks to tackle challenges such as high gas fees and scalability limitations, with a specific focus on metaverse and gaming applications. However, despite the launch of Shibarium, the price of Shiba Inu (SHIB) did not experience any significant impact. Instead, Shiba Inu (SHIB) continued to decline amidst prevailing market volatility. Between August 16 and August 23, the price of Shiba Inu (SHIB) dropped from $0.000009965 to $0.000008404, marking a loss of approximately 15.67%. The downward momentum continued up until August 28 when Shiba Inu (SHIB) surged 2.34% to $0.000008237 in light of the Shibarium’s second launch (re-launch). Several crypto experts attribute Shiba Inu’s (SHIB) decline to its classification as a meme coin. This classification suggests that Shiba Inu (SHIB) lacks robust tokenomics to support its scalability promises and long-term viability, leading to a lack of investor confidence. If the overall market sentiment remains bearish, it is expected that Shiba Inu (SHIB) will continue falling, and vice versa. EOS (EOS) Rejects Block. one Settlement Offer On August 8, 2023, the EOS Foundation took to social media to urge the EOS community to reject Block.one’s proposed $22 million settlement. Block. One is the company responsible for the EOS initial coin offering (ICO) that raised $4 billion in 2018. The EOS Foundation argues that the current settlement offer fails to adequately compensate EOS community members for the losses they suffered as a result of Block. one’s misleading statements and unethical behavior. Following this announcement, the price of EOS experienced a brief surge, climbing from $0.72 to $0.73. However, EOS has recently been subjected to significant market volatility, with a drop from $0.73 to $0.59, representing a 19.18% decrease between August 9 and August 28. Many crypto experts predict that if the overall cryptocurrency market remains bearish, similar to SHIB, EOS is likely to continue its downward trend. VC Spectra’s (SPCT) Expected 220% ROI Allures Investors Despite the bearish downturn in the market, the public presale of VC Spectra (SPCT) continues to experience remarkable growth, potentially offering an impressive 220% ROI to investors. This groundbreaking decentralized hedge fund offers a unique range of benefits to its users. VC Spectra (SPCT) rewards its users with quarterly dividends and buybacks, which are derived from the profits generated through its innovative investment strategies. Additionally, users gain access to exclusive initial coin offerings (ICOs) in seed and private sales, as well as voting rights within the platform. At the heart of this ecosystem lies the VC Spectra token (SPCT), which adheres to the BRC-20 standard. VC Spectra (SPCT) token serves as the primary medium of exchange, facilitating decentralized trading, asset management, and transaction fees on the Spectra platform. By harnessing the robustness and security of the Bitcoin blockchain, the VC Spectra (SPCT) token is designed to be deflationary, gradually reducing the circulating token supply over time through a burn mechanism. VC Spectra (SPCT) is currently in Stage 3 of its public presale, offering tokens for $0.025. It is worth noting that Stage 1 investors have already experienced an impressive return on investment (ROI) of 212.5%, while Stage 2 investors have enjoyed a notable 127.27% return. By purchasing VC Spectra (SPCT) tokens at the current price of $0.025, investors have the potential to capitalize on a substantial surge of 220% by the conclusion of the presale when the value of SPCT reaches $0.08. Learn more about VC Spectra (SPCT) and its presale: Buy Presale: https://invest.vcspectra.io/login Website: https://vcspectra.io Telegram: https://t.me/VCSpectra Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Bloomberg senior analysts Eric Balchunas and James Seyffart have raised their approval odds of the first Bitcoin spot exchange-traded fund (ETF) in the United States (US) to 75%. This development comes after the US District of Columbia Circuit ruled against the US Securities and Exchange Commission (SEC), stamping out the regulator’s denial of Grayscale’s conversion of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. Court “Unanimity And Decisiveness” Unexpected, SEC Now In Tight Spot, Analysts Say According to his X post on August 30, Eric Balchunas explains that the new stance from him and his colleague was based on certain developments in Grayscale’s case against the SEC. Related Reading: US Bitcoin ETF Approval Could See North America’s ETF Volume Rise To 99.5% Although the Bloomberg analyst stated that a Gracyscale victory had been factored into their last 65% approval odds of a Bitcoin spot ETF, the court’s “unanimity and decisiveness” in ruling against the SEC was quite unanticipated. Furthermore, Balchunas explains that the SEC now faces a PR loss as Grayscale’s victory received media coverage from top media firms across the country. Combining this situation with the recent court defeat, the commission’s denial of the Bitcoin spot ETF will be “politically untenable.” In their official report, both Balchunas and Seyffart also highlighted that the SEC’s dilemma worsens as it faces its first deadlines on seven Bitcoin spot ETF applications between September 1 and September 4. However, following the recent court ruling, the Bloomberg analysts believe the securities regulator will likely give a delayed order. Finally, if the SEC is somehow able to deny all applications, the analysts state the financial agency will struggle to reject Hashdex’s unique proposal. On August 25, the Brazillian asset manager filed to introduce a mixture of Bitcoin spot and futures ETF, secured by the Exchange for Physical (EFP) transactions, instead of a surveillance-sharing arrangement (SSA) with a crypto exchange. Based on all the factors listed above, Balchunas and Seyffart rate the approval chances of a Bitcoin spot ETF in 2023 at 75%, with the potential of these odds rising to 95% at the end of 2024. Bitcoin Poised For Massive Gains If Spot ETF Gains Approval Following the influx of Bitcoin spot ETF applications in June, there has been much optimism about the potential effects these trading products could have on the premier cryptocurrency. A Bitcoin spot ETF tracks the price of BTC, granting investors indirect exposure to the asset without the risks of direct investment in the cryptocurrency itself. According to hedge fund expert Tom Lee, a spot ETF will likely create a high demand-to-supply ratio of the largest crypto asset, pushing its prices of BTC as high as $185,000. Related Reading: Ethereum ETF Race Gets Hotter As SEC Receives 11 Filings In One Week The market leader rose by over 7% following Grayscale’s court victory to trade at $27,974.42, according to data from Coingecko. However, BTC soon experienced a price correction, finding support around the $27,000 price zone. At the time of writing, Bitcoin is trading at 27,229.89 with a 0.9% loss in the last day.

Polkadot (DOT), the innovative cryptocurrency known for its interoperability-focused blockchain platform, displayed a surge in buying pressure, indicating a potential short-term bullish trend. Despite this optimism, cautious conditions still prevail for prospective buyers in the volatile crypto landscape. While DOT faced a 2.1% slump in the past 24 hours and a marginal 0.2% decline over the past week, its overall outlook remains influenced by both market dynamics and broader technological advancements. Undoubtedly, Polkadot’s performance in the crypto market has been buoyed by widespread innovation and increased adoption. Currently priced at $4.50 according to CoinGecko, the coin’s value reflects not just its market position but also its underlying technological progress. Polkadot Driving Factors Santiment, a reputable on-chain data firm, recently unveiled that the Polkadot project has exhibited robust development activity throughout 2023. Impressively, it secured a place among the top three projects with the highest GitHub submissions, signaling a thriving developer community and continuous improvements. The Polkadot Deep Dive report emphasized pivotal advancements in its staking mechanism. Features like the fast unstake mechanism have bolstered adoption rates, streamlining the user experience and increasing engagement. This progress showcases Polkadot’s dedication to refining its ecosystem and addressing user concerns. DOT Chart Analysis And Market Insights A detailed analysis of the 1-day chart unveils crucial support and resistance zones. The $4.5 region emerges as a bullish order block, instilling optimism for potential price gains. Conversely, the $5.5 area stands out as a bearish order block, suggesting a level where selling pressure might intensify as August ends. These distinct zones imply a potential trading range for DOT in the coming weeks, presenting both opportunities and challenges for traders and investors alike. Zooming into lower timeframe charts provides further insights. A notable market structure break occurred on Monday, as DOT managed to surpass the recent lower high at $4.56. Notably, this break coincided with the higher timeframe order block, enhancing the likelihood of bullish momentum driving prices upwards. Esteemed crypto trader Toni Bitcoin also weighed in on the situation, highlighting DOT’s breach of a significant volume resistance barrier. The key now lies in the coin’s ability to maintain the $4.57 price level. Should this support hold, a strong bullish continuation could unfold in the ensuing days, potentially reshaping the short-term trajectory for Polkadot. Navigating Volatility With Caution And Optimism The recent surge in buying pressure and the ongoing development activity signify a potential short-term bullish trend for DOT. However, the inherent risks within the crypto sphere remind us that market dynamics can swiftly shift, underscoring the importance of informed decision-making and risk management strategies. (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 Marine Corps Times

VICTORIA, Seychelles–(BUSINESS WIRE)–#blockchain–KuCoin, one of the top 5 crypto exchanges in the world according to CoinMarketCap, has released the 15th report in its “Understanding Crypto Users” series of Turkey.” This report sheds light on the crypto ecosystem in Turkey and provides insights into the trends, preferences, and behaviors of adult crypto investors in Turkey. The survey reveals a significant increase in crypto investors among Turkish adults, with more than half of the population participating in crypto investments. The percentage of crypto investors among the Turkish population aged 18 to 60 has increased by 12% in the last 18 months, rising from 40% in November 2021 to 52% in May 2023, despite the market condition. This indicates an increasing interest and acceptance of crypto as a hedge against inflation, especially with the Turkish lira losing over 50% of its value against the US dollar. The report provides valuable insights for crypto enthusiasts, investors, and businesses considering expanding into the Turkish market. The following are key data points excerpted from the report: Significant Increase in Crypto Investors Among Turkish Adults: 52% are Crypto Investors, with Growing Participation from Young Women According to the survey, Crypto investors among Turkish adults has significantly increased in the last 18 months, rising from 40% to 52%. While male investors still dominate at a rate of 57%, there is a rising trend of women’s participation, particularly among the younger generation. Almost half (47%) of crypto investors aged between 18 and 30 are female. This indicates a decrease in the gender gap as crypto adoption becomes more widespread, with female crypto investors over the age of 45 accounting for only 37% of the total. Young Generations Triggering Crypto Growth: 31% of Investors Joined in the Last Quarter and 36% Investing Above 100,000 Liras Younger generations are prominent among crypto investors, with investors between the ages of 31 and 44 making up the majority at 48%, followed by investors between the ages of 18 and 30 at 37%. According to the survey, 31% of overall crypto investors made their first crypto investment in the last three months, with 54% of investors under the age of 30 joining the market last year, indicating the influence of young people. Additionally, 37% of investors over the age of 45 have been investing in crypto for more than two years, indicating that crypto has undergone a stable adoption process. The results show that 33% of investors under the age of 30 have invested over 100,000 TL. The high interest of the younger generation and the participation of other age groups indicate that crypto is increasingly accepted in the country. Crypto Investment Motivations: 58% for Future Wealth, 37% for Value Storage, 25% for Portfolio Diversification, 34% for Ease of Transfers, and 17% for Quick Profit and Excitement Interested Crypto Investment Targets: Bitcoin Dominates at 71%, Followed by Ethereum and Stablecoins which gains 45% of overall interest and 52% among young investors. Stablecoins reflect a demand for reliable digital assets for trading, transferring, and preserving value, attracting interest from 33% of investors. Crypto Trading Dominates in Turkey: 70% of Turks Use Crypto for Trading and 22% for Buying NFTs The Power of Personal Connections: Friends and Communities Support Crypto Adoption, 57% of participants became familiar with crypto through their family or friends, highlighting the importance of such relationships. Johnny Lyu, the CEO of KuCoin, commented on the report, stating, “We are excited to present this comprehensive report that sheds light on the dynamic crypto community in Turkey. Through ‘Into the Cryptoverse: Understanding Crypto Users in Turkey,’ we aim to contribute to a more informed crypto landscape and encourage the responsible adoption and use of cryptocurrencies. We hope this report triggers meaningful discussions and contributes to the collective knowledge of the global crypto community.” The full report on “Understanding Crypto Users in Turkey” can be accessed on KuCoin Blog here. The survey participants were individuals who completed an online survey between May 5 – May 12, 2023. The data presented in this report is based on surveys conducted by KuCoin using the SurveyMonkey Audience tool. About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 29 million users in more than 200 countries and regions. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards. To find out more, visit https://www.kucoin.com Contacts For media inquiries, please contact: [email protected]

Amid the recent bull run, the price of ETH surged all the way to the $1740 level. The price will likely decline if it breaks the $1695 short-term support. Bitcoin formerly had the highest number of long-term investors. However, a new infographic by IntoTheBlock claims that Ethereum has flipped BTC by a difference of nearly 40 million. Both of them had improvements in this statistic when comparing results from the previous year to the present, but Ethereum leads with a 44.2% YoY rise. When it comes to Ethereum (ETH) holdings, a digital wallet affiliated with Robinhood is the fifth largest. The on-chain analytics company Arkham Intelligence estimates that Robinhood holds 1.72 million ETH, which is worth approx. $2.93 billion. Consolidation Phase Amid the recent bull run, the price of ETH surged all the way to the $1740 level. However, it could not maintain the momentum and retracted to the $1700 level. Moreover, the price has been consolidating ever since and is eyeing for a breakout. Traders need confirmation of a clear breakout in either direction in order to gauge the trend. Source: CoinMarketCap According to CMC, the price of ETH at the time of writing is $1704 and is up 1.84% in the last 24 hours. If the price wants to start a fresh rally then it needs to break the $1740 barrier. Post which it will likely test the $1800 zone. On the other hand, the price will likely decline if it breaks the $1695 short-term support. Moreover, the price will then likely test the $1640 level. Investors are closely watching the upcoming core PCE inflation and employment data this week. Both of which has the potential to significantly affect the crypto market.

Hoskinson doesn’t own any NFTs from Cardano ecosystem initiatives on a personal level. The founder clarified that he values the NFT artwork he’s received. Cardano’s founder, Charles Hoskinson, recently released a video in which he elaborated on his position about his involvement with NFT initiatives inside the Cardano ecosystem. When asked about the Apes Society artwork prominently displayed in his Colorado office, Hoskinson said it was a gift and that he had not been paid for or endorsed by the organization. He continued by saying that he doesn’t own any NFTs from Cardano ecosystem initiatives on a personal level. Hoskinson clarified that although he values the NFT artwork he’s received. He does not intend for his display of the work of any one project to be seen as a promotion of that project. Unbiased Approach Hoskinson emphasized that his decision to abstain from these NFT initiatives is motivated by a desire to maintain objectivity. Even though he has been offered several opportunities to obtain NFTs. The founder has stressed that he has never made his address public. His lack of bias towards any one NFT project in the Cardano ecosystem eliminates any appearance of favoritism. In addition, he spoke on the tribalism and close-knit communities that exist inside the Cardano NFT ecosystem. Hoskinson encouraged the NFT industry’s numerous stakeholders to meet and discuss their mutual requirements. The founder recently said during an event that ADA will become the most valuable cryptocurrency in the world, surpassing both Bitcoin and Ethereum. According to CMC, the price of ADA is $0.2649 and is up 0.08% in the last 24 hours. Highlighted Crypto News Today: Crypto Exchange OKX Releases 10th Proof-of-Reserve (PoR) Report

Metaverse is evolving and users seek to explore excitingly innovative content. Opportunities and strategies such as democratized asset creation and content monetization are beginning to lure more players into the space. TheNewsCrypto struck up an all-inclusive conversation with George Wong, Head of Singapore, on the upcoming updates of the Sandbox, the strategies for upgrading the metaverse space, and the optimistic regulations in Singapore. George is genuinely grateful for the optimistic and pro-Web3 regulatory landscape that is evolving in Singapore. He highlights the goal of onboarding regional brands into the virtual world. Certainly, The Sandbox has been lining up a series of thrilling launches for the metaverse community! We are eager to know about the Self-Publishing of Experiences in the Metaverse. Could you share more about it? George Wong (GW): If you have been a follower of the Sandbox for the last few years, a lot of people who purchased our land were only owning the asset of the land, and a lot of experiences were curated because the platform was still on alpha. But with the introduction of ‘self-publishing’ in the fourth quarter of this year, anyone with LAND can now start to build. And that’s important because, in the metaverse, the most important thing is actually content. So if you have an experience on your LAND, then people will come and then there’ll be traffic. Without content, there’ll be no traffic, digital media could also relate to this. So in the metaverse, the logic is the same. So that’s why self-publishing is very important. We have seen some incidences where other platforms or metaverses receive more hype from a lot of people, but they don’t focus on the content. And without content, those metaverses eventually start to die out because there’s nothing there. You can’t go into a metaverse and, and just look at its lands and nothing else. You need something to do something. You need some experiences to spend with your friends in the virtual world. This is also why self-publishing is important. It’s the enabler for all these creative studios and individuals to come onto the metaverse and very easily develop their own experience in the Sandbox. Because our tools are no code. So those who don’t have any coding background can still come into the Sandbox, build NFT assets, monetize them, and build games based on their vision. So that’s why for us, it’s very exciting as we move into 2024. We hope to focus all our attention on getting amazing content into the platform. What benefits will be unlocked for LAND owners, creators, and metaverse enthusiasts after the successful implementation of Self-Publishing by the end of Q3? GW: There are a few layers. Let’s say you are an investor and you have invested and bought LAND. Now the whole idea of location, where your land is, that value comes in. ’cause a lot of people don’t see that value right now when it comes to being in The Sandbox. They just buy land anywhere and then they think that the value will be all the same. But even in the metaverse, location is very important, like in the real world. So one of the things that investors will start to see is that if you are next to a very interesting experience, you’re more likely to have spillover traffic. A LAND that has an ‘experience’ built will have more value. The growth in valuations also relies on content. So valuations will eventually go up with building good content. So that’s one thing for investors. Now, when it comes to gamers, it becomes more attractive because you can now try as many indie and professional games that have been built. There will be many more games coming up sooner. Since we’ve launched, many people have started launching their own experiences onto our platform. We believe when it is fully public in the fourth quarter, we’ll get a lot of exciting content. So gamers enjoy and win because they have much more content to engage with in the metaverse. And the same goes for creators. Now we open up the monetization opportunities by having your own experiences and being able to issue your own NFTs. We have now democratized and monetized NFT Asset Creation in the Metaverse for the long run. This wasn’t possible previously. We wanted to manage the quality, but I think that now with this launch, anyone can just jump into the platform, and emerge to be a creator that does monetize their value. Look at X (Twitter), which recently announced monetization for creators with ample followers. It drew so much interest back into X (Twitter) because monetization is there. While many people do not think that platforms should incorporate monetization, the reality is that monetization is indeed important for supporting good content creators in the digital space. What is the impact of recent regulatory actions implemented in the macro economy on the metaverse industry? GW: It majorly depends on the market. At the moment, certain markets have most of their regulatory actions focused on confirming whether crypto tokens & NFTs are securities or not. The worst scenario in Southeast Asia is that a lot of markets have unclear regulations. This uncertainty confuses people about whether they can proceed with certain actions or not. I’ve seen it in certain markets that I’ve been in where they became over-regulated. But I’m fortunate and happy that the regulators in Singapore have a very positive stance. I would say in the context of Southeast Asia, Singapore is leading the way. The regulators comparatively hold a very positive approach. They are regulating to the extent that it protects investors, but at the same time, they are also encouraging innovation. This is the point where something most regulators suffer. When they solely focus on protecting investors, they cannot innovate or test out new use cases. They would do extensive fact-finding for clearer regulations. They will find a way to protect investors without affecting the diversification of innovation. For example, because of the issues with stablecoins, they have come up with a policy on how to regulate stablecoins. So I don’t see it as a major issue unless they do blanket policies. I think blanket policies are the issue. When certain policymakers just say that all tokens are securities, that’s when a problem is created in the market. So, ultimately, I believe that clarity in regulations is the most crucial aspect that every market needs right now. Can you give an overview of details highlighting the major global brand collaborations onboarding the Lion City, the popular metaverse neighborhood within The Sandbox? GW: Since we started the project of building the Lion City neighborhood in the Sandbox, we have about 35 brands now in total — a mix of international and local brands. But I think the one that is worth highlighting and will be introduced very soon is ONE Championship. Now, for those of you who are not familiar with ONE Championship, it is the fourth-largest property in the world. This Singaporean-based entity is niched in the Mixed Martial Arts (MMA) industry. It’s very refreshing to see such a big brand on a global scale in Sports so committed to a Web3 strategy. Whenever we meet every week, they discuss with us what can they do in Web3. They are looking to build various types of games, and engagements, and it’s not about money. I think certain major brands are only looking at Web3 space because they think it’s quick money. But when you look at brands like ONE Championship, they’re more like, how do we use this technology as a way to build a strong community in the digital space? How do we build fandom? I hope this is what more big brands globally could be working on with us. So that’s one example of brand collaboration for the Lion City that I would highlight. Of course, globally, we have many international brands that are working with us. You are going to see a lot more in 2024. We are going to continue expanding in Southeast Asia and our goal is to make as many big Southeast Asian brands global. What’s your bullish forecast on Singapore transforming into a leading global hub for Web3 and the Metaverse? GW: Right now, we are at a crossroads, building a good foundation. We have collaborated with a lot of big brands that have a good regional and global reach. But I feel that we could do a lot more as more brands are coming into the space right now. What we need is a good population of players and users. So Singapore, a small country, is a very small domestic market. So the user base actually will come from the widest Southeast Asia. So how do we tackle that? Doing a lot of cross-country collaborations. That is why, if you look at The SandBox, unlike other metaverses, we have local companies. We have a base in Singapore and Thailand for Southeast Asia. We also are in many parts of East Asia like Korea, Japan, Hong Kong, Taiwan, and most hopefully China very soon. So you see, we have a regional presence and it’s not just a representative, but the whole company. I think that strategy is something that a lot of Web3 does not do. Currently, Web3 likes to be one place and tries to cater to the global market. However, having a local development team allows us to establish cost-effective collaborative opportunities across markets, enabling us to go deeper and engage with brands that are relevant to the local market, while building a community in the local space. And I think Metaverses needs to grow that way. I strongly believe that with an effective strategy, we have built a good foundation for Singapore and are going into other markets. The next markets that we are looking at to aggressively grow are the Philippines, Indonesia, Thailand, and Vietnam for Southeast Asia. In the Web3 context, we collaboratively work in a very decentralized way to achieve the goal of making Singapore and the rest of Southeast Asia into the “Sea-verse” or “Southeast Asia-verse.” How was your time in Coinfest Asia 2023 and what is that one unique factor you look out for in events like these that unite the web3 ecosystem? GW: It was fun and the setup was really cool. It’s a bit different than the others as in Asia you worry about rain having a fair outdoor experience. What I look for in events like these is a genuine convergence of the Web3 ecosystem with solid business fundamentals. Events like this need to have this convergence as you know, now everybody’s got the tech, the tech is maturing, and people are adopting. We need to find out how to grow even in bear markets and build sustainable projects. As you know bear market cycles are way shorter. So we need to fast at events like this. It’s fascinating to witness the evolution of the previous cycles. In the bullish times, the focus was on concepts like DJs, NFTs, and the like. Conversely, during bear markets, the corporate presence dominated with a more cautious approach. The fusion of technology and business at events is what I believe will drive the Web3 ecosystem forward. My time at Coinfest Asia has been both enjoyable and enlightening, and I’m looking forward to more events that continue to strike this essential balance. 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 and consult with appropriate professionals before making any investment or financial decisions.

Bitcoin Cash crossed the $200 mark again after two weeks. Investors gained a notable profit with this sudden surge for the first time in 10 weeks. The Bitcoin Cash (BCH) price has experienced ups and downs over the past few weeks. After staying below the $180 mark for two weeks, BCH has surpassed the $200 range. According to the Santiment report, short- and long-term investors gained a notable profit with this sudden surge for the first time in 10 weeks. Santiment, the crypto market and transaction analyzer, reported that BCH investors have gained a healthy profit for the first time since mid-June. Bitcoin Cash showed a significant price increase of 15% on August 30 after showing a downtrend for the past few weeks. The sudden price surge boosted investors’ confidence in Bitcoin Cash. Bitcoin Cash Shows Surge in Whale Activity Santiment’s report also mentioned that BCH whale activity has experienced a mild resurgence in recent days. Additionally, returns from active BCH trading for the past 30 and 365 days are once again above the range. Following the whale activity, BCH showed a significant surge that resulted in a profit for the short and long-term investors. The surge in whale activity is expected to be the key to a further price increase. Bitcoin Cash has been trading between $180 and $190 for the past few days. The sudden price surge helped BCH cross the $200 mark again after two weeks. However, the price surge in BCH didn’t last for long. The trading price of BCH started declining after the sudden surge. Even with the price drop, BCH is still trading above the $200 range. At the time of writing, Bitcoin Cash has been trading at $213, with a decline of over 3.03% in the last 24 hours. The daily trading volume of BCH has experienced a drop of around 56.53%, according to CoinMarketCap. Do you think BCH will show a price surge soon? Tweet to us at @The_NewsCrypto and let us know your thoughts.

DUBAI, United Arab Emirates–(BUSINESS WIRE)–The United Arab Emirates (UAE), which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay, a cryptocurrency platform from Turkey. This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on blockchain technology and cryptocurrency. Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021. The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries across Europe, Asia, Africa, and the Americas. Niyazi Yılmaz, General Manager of Bitay Technology, stated, “The UAE provides a stable regulatory environment for crypto exchanges. It will serve as more than just a market for Bitay; it will be our technology base, central to our global blockchain strategy.” The AEDD coin offers a competitive edge Bitay offers a diverse portfolio with over 350 crypto assets. Unique to Bitay is AEDD, a stable coin pegged to the AED. It aims to provide a competitive edge by offering a low bid/ask price difference. Yılmaz added, “AEDD is not just a stable coin, but a testament to the investment and trust we place in the UAE’s digital future.” Bitay prioritizes user satisfaction, key differentiator in a competitive market. Its Bitay+ loyalty programme offers users benefits such as low commission rates, personalized campaigns, and even crypto staking with APR rates that adjust based on the user’s level. Launch campaign features 25% off Bitay Coin The platform also plans to launch an “Advantageous 2nd Sales Period” campaign to mark its entry into the UAE and celebrate the first anniversary of Bitay Coin. This limited-time offer features up to 25% off the current Bitay Coin price and up to 30% bonus earnings on USDT investments, highlighting Bitay’s ambition to be a dominant player in the region. Bitay Coin, the native asset of Bitay’s ecosystem, has recorded a 330% gain in its first year, outperforming notable assets like Bitcoin, gold, and even shares of global brands like Apple and Tesla. Bitay’s entry into the UAE amplifies the region’s robust digital and crypto landscape. As the UAE continues to attract young, tech-savvy populations and major players in the crypto sector, it solidifies its role as a focal point for financial innovation. Contacts Niyazi Yılmaz [email protected]

In the intricate dance of global finance, traditional economic indicators and the burgeoning Bitcoin and crypto market are becoming increasingly intertwined. Recent macroeconomic data from the US suggests a cooling economy, and this could have profound implications for Bitcoin and other cryptocurrencies. Macro Data Snapshot: A Cooling US Economy Yesterday’s data release paint a clear picture of a slowing US economy: Job Openings: The July JOLTS report indicated a significant drop in job openings, falling to 8.827 million from the previous 9.165 million, and notably below the expected 9.5 million. US ADP Nonfarm Employment Change (August): Actual figures came in at 177K, missing the estimate of 195K and showing a sharp decline from the previous 324K. US GDP (QoQ) (Q2): The actual growth rate was 2.1%, slightly below the estimated 2.4% and just above the previous 2.0%. PCE Prices (Q2): The actual figure was 2.5%, marginally below the 2.6% estimate and a significant drop from the previous 4.1%. Core PCE Prices (Q2): The actual data showed 3.7%, just below the 3.8% estimate and down from the previous 4.9%. Real Consumer Spending (Q2): The actual figure was 1.7%, slightly above the 1.6% estimate and down from the previous 4.2%. Pending Home Sales (July): The month-on-month data showed an increase of 0.9%, defying the -0.60% estimate. Pending Home Sales Index (July): The index stood at 77.6, slightly above the previous 76.9. Implications For Bitcoin And Crypto The cooling US economy, as indicated by the recent macro data, might be setting the stage for a (last) significant surge in BTC and crypto prices before a recession. Why? Because bad news is good news for the currently short-sighted financial world. Bad data means that the US Federal Reserve will not raise interest rates further and that Quantitative Easing (QE) is getting closer. The long-term consequences in the form of a recession are being overlooked. Joe Consorti, a renowned Bitcoin Layer analyst, highlighted the significant drop in job openings and the slowing job growth in August. He stated, “US job openings are at 8.827 million, the lowest level since September 2021. Worse yet – last month’s data was severely overestimated. Cracks are spreading in the labor market. Rate hikes’ impact finally hitting.” He further emphasized the paradox of weak economic data driving stock market surges, suggesting, “Bad news is good news right now. Sour data relaxes investor fears of a hawkish Fed – igniting hopes of relaxed policy to support asset prices. I don’t make the rules.” Michaël van de Poppe delved deeper into the relationship between traditional economic indicators and Bitcoin’s performance. According to him, the most likely case are no more rate hikes as the economic data is coming in terribly, through which Gold, Silver and Bitcoin will be running upwards. He pointed out the inverse correlation between the Yields markets and Bitcoin, suggesting that as Yields show signs of peaking, Bitcoin could be poised for a surge. “The 2-Year Yields are even more apparent than the 10-Year Yields, indicating a potential top in the making, said van de Poppe. He explained that the previous top in November of 2018 marked the low on Bitcoin. Afterwards BTC broke down, but the top of the Yields resulted into the bottom of the bear market for Bitcoin. The continuation of the selloff on the Yields resulted in more and more strength on the Bitcoin markets. Van de Poppe added: Macro analyst Mortensen Bach’s predictions for the next 6-10 months also suggests a potential downturn for the USD, a decrease in rates, and an uptick for both stocks and crypto. According to him, the expansion phase of financial markets is coming to an end. However, there’s one last leg up for markets. While he believes that the soft landing narrative is nonsense, he warned of the repercussions of the Federal Reserve’s aggressive rate hikes, stating, “FED jacked up rates by 500bp in 12 months, in order to try and manipulate the economy to cool off. This was a big mistake and we will pay the price for it, likely in 2024.” Crypto trader Daan emphasized the looming recession fears and the potential for rate cuts and increased money printing in the near future. He commented, “Recession fears will be all over the media soon. Bring on the Rate cuts & Money printing! (Not yet but doubt it takes much longer than ~6 months).” At press time, BTC traded at $27,264.

Ripple’s token price is showing bearish signs below $0.550 against the US Dollar. XRP price could start another decline if it trades below $0.500. Ripple’s token price is struggling to recover above $0.540 and $0.550 against the US dollar. The price is now trading below $0.550 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.540 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might start another decline if there is a break below $0.500. Ripple’s Token Price Eyes Fresh Increase After a sharp decline to $0.40, Ripple’s XRP started a recovery wave against the US Dollar. The price recovered above the $0.48 and $0.50 resistance levels, like Bitcoin and Ethereum. The price was able to surpass the $0.520 resistance as well. Finally, there was a spike above the 50% Fib retracement level of the key drop from the $0.6655 swing high to the $0.3995 low. The bulls are now facing an uphill task near $0.550. XRP is still trading below $0.540 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.540 on the 4-hour chart of the XRP/USD pair. Source: XRPUSD on TradingView.com Initial resistance on the upside is near the $0.540 zone and the trend line. The next major resistance is near the $0.550 level or the 61.8% Fib retracement level of the key drop from the $0.6655 swing high to the $0.3995 low. A successful break above the $0.550 resistance level might send the price toward the $0.60 resistance. Any more gains might call for a test of the $0.625 resistance. Another Drop in XRP? If ripple fails to clear the $0.550 resistance zone, it could start another decline. Initial support on the downside is near the $0.505 zone. The next major support is at $0.500. If there is a downside break and a close below the $0.500 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.435 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.505, $0.500, and $0.435. Major Resistance Levels – $0.540, $0.550, and $0.600.

If the United States Securities and Exchange Commission (SEC) ends up approving a spot Bitcoin exchange-traded fund (ETF) anytime in the coming days or weeks, one expert is confident BTC prices will explode more than 6x to $185,000. As of August 30, BTC is changing hands below $30,000 but remains firm. Bitcoin To $185,000? In a recent CNBC interview, Tom Lee, who regularly comments on Bitcoin prices, said a spot ETF will mop up all daily supply of the world’s most valuable cryptocurrency, creating an “imbalance” that will inevitably drive prices higher. Based on this, demand will significantly outstrip supply, driving prices to $185,000 or higher. Bitcoin remains the world’s largest cryptocurrency by market cap despite the sharp contraction throughout the past 20 months. At peaks, BTC surged to over $69,000 only for sentiment to shift in 2022, triggering a sell-off that saw prices declined more than half, bottoming up from below $16,000 in November 2022. While prices have since recovered, surging over 50% from November 2022 lows to peaking at over $31,000 in late July 2023, the crypto and Bitcoin communities have their eyes on the SEC. The stringent regulator has been adamant, dismissing previous applications for a complex ETF derivative directly tracking Bitcoin prices. While the SEC has approved a Bitcoin Futures ETF that tracks an index aggregating prices from multiple regulated exchanges, the nascent industry demands an spot BTC ETF. SEC Likely To Approve Spot ETF? Following August 29’s court ruling that supported Grayscale’s assertion that robust measures are in place for their Bitcoin spot ETF to be free from market manipulation, the community has been ecstatic. The ruling was a loss for the SEC, but the court didn’t mention or guide the regulator in approving a Bitcoin ETF. Nonetheless, following the sharp expansion of Bitcoin prices from around $25,800 to as high as $28,000, there is a section of optimists who believe the SEC has little wiggling space and have no option but to greenlight a Bitcoin ETF in the coming weeks if not months. On August 30, Eric Balchunas and James Seyffart, two of Bloomberg’s senior ETF analysts, increased their odds of the SEC approving a spot ETF in 2023 to 75% (up from 65%). If it doesn’t get approved this year, they estimate that the regulator will likely allow entities to create this product next year since their probability is 95%. Their confidence stems from the fact that the “unanimity and decisiveness” of the recent court ruling in the SEC versus Grayscale case was “beyond expectations and leaves SEC with “very little wiggle room.” Moreover, in their assessment, the SEC has suffered a “PR” loss since the ruling was widely covered.