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Shiba Inu (SHIB) has been garnering attention in recent weeks, with its price showing a good recovery after reaching a yearly low in June. This coincides with the excitement around the upcoming launch of Shibarium, a layer-2 blockchain network for the second-largest meme token. It appears that the forthcoming Shibarium launch has propelled SHIB to a significant milestone, as the number of addresses holding the token has hit a new all-time record. Shiba Inu Sets New All-Time High In Addresses Data from IntoTheBlock reveals that the number of SHIB addresses at a given time has reached a new peak of 3.51 million. The previous all-time high was set in May 2022, when the number of addresses stood at 3.23 million. The number of addresses holding the SHIB token has been steadily rising in the past few months, but this rate of adoption notably surged in July. This is reflected in last week’s figure, as the number of addresses holding the token spiked by more than 22%. A steady increase in the number of SHIB addresses suggests a growing interest in the meme token. This can be attributed to a combination of various factors, including the upcoming Shibarium launch, the token’s price performance, and the recent resurgence of DOGE – the poster boy for meme coins. The recent market activity of Shiba Inu whales further amplifies the optimism surrounding the SHIB token. On Wednesday, August 2, NewsBTC reported that the cryptocurrency’s large volume transactions reached approximately 1.13 trillion SHIB. SHIB Price Hovers Around Critical Level – Price Overview The price of the Shiba Inu appears to be slowing down after displaying bullish strength before the end of July. The token rallied nearly 12% between July 28 and July 30 to break above the $0.000008 level. However, this recent momentum appears to be waning, as the token’s price has not made any notable action in the past few days. With a 0.9% price dip in the last 24 hours, the SHIB token continues to trade within the $0.00000831 zone. Investors should keep an eye on the meme coin in the coming week, as a break out of this zone could see it visit the $0.0000087 mark again. Moreover, with the Shibarium mainnet launch roughly 10 days away, a bullish scenario may be on the cards. Related Reading: Shiba Inu Price Prediction: Is Shibarium The Key To A Trend Reversal? According to CoinGecko data, the SHIB token is currently valued at $0.0000082, representing a 4.5% price increase in the past week. With a market cap of roughly $4.86 billion, Shiba Inu ranks as the 15th-largest cryptocurrency in the market.
 
XRP’s legal win reshapes the market; altcoins surge amid volatile trends. Shiba Inu defies memecoin origins, strengthens utility. The first half of 2023 has been a roller-coaster ride for the cryptocurrency world, with a series of significant events and developments that have left a profound impact on various altcoins. As Bitcoin hit a remarkable $30,000 upmark and the SEC lawsuit took a surprising turn, altcoins experienced unprecedented volatility, with some coins soaring to all-time highs and others solidifying their positions in the market capitalization list. Here are some of the notable market trends of leading Altcoins. Ethereum Ethereum, the leading altcoin by market capitalization, faced its share of challenges during the SEC’s regulatory battles and the influx of new entrants. Despite the bearish sentiment dominating the early months of 2023, Ethereum managed to break through the $2,000 barrier for the first time, signaling a promising bullish rally. July brought a notable surge in Ethereum locked within the ETH 2.0 deposit contract, reaching an impressive peak of 25,937,766 ETH. This milestone followed the successful Shanghai upgrade in April, which facilitated withdrawals from the ETH 2.0 deposit contract. However, Ethereum is currently in a bearish phase, with its price at $1,834.55, reflecting a 1.20% decline. Analyzing the daily price chart reveals a dip below the short-term 50-day simple moving average (50 SMA), emphasizing the prevailing bearish sentiment. The daily Relative Strength Index (RSI) stands at 43, indicating a potential oversold condition, while trading volume has decreased by 21.85%. XRP XRP, a significant player in the crypto arena, secured a major victory by winning the SEC lawsuit and subsequently ascending in market capitalization. The United States District Court for the Southern District of New York ruled in favor of Ripple Labs on July 13, affirming that XRP is not a security, a verdict that had a resounding impact on the broader crypto market. Following the court’s decision, XRP witnessed a price spike from $0.45 to $0.63, showcasing the direct influence of regulatory developments on market dynamics. Despite this triumph, XRP currently finds itself in a bearish phase, with a price of $0.662, reflecting a 4.79% decline. Similar to Ethereum, XRP’s daily price chart reveals a dip below the short-term 50-day SMA, underscoring the ongoing bearish sentiment. The daily RSI sits at 48, suggesting a potential oversold condition, while trading volume has increased by 17.60%. Shiba Inu In the midst of the Q1 2023 memecoin season, Shiba Inu emerged as a prominent player, riding the wave of bullish momentum. Despite the fading bullish sentiment, Shiba continues to stand strong, fueled by consistent updates and anticipation surrounding its upcoming blockchain mainnet launch. Remarkably, Shiba’s utility coins within the Shibarium ecosystem, such as BONE (Bone ShibaSwap), experienced a notable surge of 51.16% over the past week. As of now, Shiba Inu remains in a bullish phase, with a price of $0.0000082, accompanied by a slight decline of 0.99%. Analyzing the daily price chart reveals an uptrend, as Shiba remains above the short-term 50-day SMA. The daily RSI sits at 55, signaling a neutral stance, and trading volume has risen by 17.05%. Litecoin A significant event in 2023 was Litecoin’s halving, a process that slashed the block reward for verifying transactions by 50%. This scarcity-driven event aimed to reduce network inflation and potentially increase the value of the cryptocurrency by producing fewer coins. Surprisingly, the halving event led to a price decline, with Litecoin’s current price at $86, reflecting a decrease of 5.42%. However, trading volume increased by 6.92%, suggesting ongoing interest and activity in the market. Whale Activities and Market Insights Recent reports reveal noteworthy transactions exceeding $10 million across various networks. With altcoins experiencing volatility and shedding market cap value, close attention is warranted to monitor whale activities. Altcoins like AAVE, APE, COMP, IMX, LDO, and MDT are particularly intriguing, as significant movements by whales could potentially indicate shifts in market sentiment and trends. In Conclusion The altcoin market has seen a whirlwind of developments and trends in the first half of 2023. While some altcoins weathered regulatory storms and emerged stronger, others transitioned from memecoin status to emerging utility. As the crypto world continues to evolve, investors and enthusiasts remain vigilant, watching closely for market movements.
 
In an analysis, Anders Helseth, Vice President at K33 Research, has mounted a strong case against the viability of the Uniswap (UNI) token. His analysis pivots on the intriguing dynamics of the decentralized finance (DeFi) market, fundamentally challenging the current valuation and future potential of UNI. Helseth begins his argument with a seemingly straightforward question: “The Uniswap protocol generates significant trading fees, but will the UNI token ever capture its (fair) share?” His conclusion is emphatically negative. Is The Uniswap (UNI) Token Worthless? For context, UNI is a governance token for the Uniswap protocol, a decentralized exchange that earns a 0.3% fee on trades. However, as Helseth points out, the entire trading fee currently goes to liquidity providers, with UNI holders standing to gain only if governance votes permit fee dividends to UNI holders. Even in a slow DeFi market, the fully diluted value of the UNI token is 15 times the annualized trading fees paid when using the protocol, currently around $6 billion. If the UNI token could capture all trading fees, it would arguably present an irresistible buy. However, Helseth makes a compelling argument to the contrary. “The UNI token currently captures 0% of the 0.3% trading fee, which entirely goes to liquidity providers,” Helseth says, emphasizing the token’s current lack of intrinsic value. The crux of his argument revolves around three players in the DeFi space: the users, the protocol (and hence UNI token), and the liquidity providers. According to Helseth, the interplay between these actors is detrimental to the UNI token’s potential for revenue generation. Helseth explains: The primary concern for users is liquidity and cost-effectiveness. If the same protocol can be replicated at a whim, users would inevitably gravitate towards the version with the most liquidity – to minimize slippage when executing trades. This dynamic significantly empowers liquidity providers who, unlike UNI holders, hold real, valuable tokens. In addition, even though switching to another smart contract may entail some costs, these are relatively low, reinforcing the bargaining power of liquidity providers. Concluding, Helseth states: “Given this relatively low cost of switching from the users’ perspective, we cannot conclude with anything else than that the power lies with the liquidity providers. Hence, even though the Uniswap protocol generates significant trading fees, we believe the potential for the UNI token to capture any of this revenue to be almost non-existent.” At press time, the UNI price stood at $6.19 after being rejected at the 200-day EMA yesterday.
 
According to data released by the Ukrainian government, cryptocurrency firms offering services in Ukraine have failed to contribute over $81 million in taxes to the country’s budget in the past decade. This comes after the country passed a crypto bill into law in 2022 that amends its tax code to allow the country to generate taxes from cryptocurrency transactions. A Huge Loss In Revenue For Ukraine In a notice released on Wednesday, the Economic Security Bureau of Ukraine stated that unrelated cryptocurrency exchanges were responsible for the loss of approximately 3 billion hryvnia in taxes (roughly $81 million) between 2013 to 2023. The country’s foremost regulator noted that it had evaluated the trading actions of exchanges founded by residents of the country, which had $55 billion in Bitcoin (BTC), Ether (ETH), and Tether (USDT) volume in rough estimates over the same period. Speaking to local media following the announcement, Deputy Director of the Economic Security Bureau Andriy Pashchuk stated that there were different perspectives on “how these transactions should be taxed and (the bureau) will act in accordance with the provisions adopted by the deputies.” He opined that while these issues drag on, the country keeps losing “..tens of millions in taxes every month.” Crypto Tax Losses Follow Passage Of Landmark Bill The recent loss of revenue follows the recent passage of the legislation “On Virtual Assets” by the Ukrainian parliament in 2022. The law was enacted amid the growing adoption of cryptocurrencies as a valid means for conducting transactions. The bill, which was signed into law in March 2022 by Ukrainian President Volodymyr Zelenskyy, sought to create a regulatory framework for cryptocurrency transactions in the country. At the time of passing the bill, the government stated that it was looking to amend the country’s civil and tax codes to accommodate the new legal framework. However, as of August 2023, no such amendments have been executed. Ukraine also brought some minor amendments to the legislation in September 2022 to ensure that the law was in sync with the European Union’s Markets in Crypto Asset (MiCA) regulation. Since then, many crypto users in Ukraine have taken to Telegram to ask whether they would be mandated to provide “backpay” of taxes based on transactions over the last decade. Some noted the government’s failure to properly adopt the regulations despite the passage of the law in 2022. According to one Telegram user with the username Vini2010w, had the government adopted the law, “everything would have been settled a long time ago.” Ukraine has been heavily reliant on cryptocurrency donations amid the ongoing war with Russia. About $225 million in cryptocurrency donations have been pledged in support of the country since 2022 following Russia’s invasion. The vast majority of the donations were made in Ethereum and Bitcoin, the two most popular cryptocurrencies and the largest by market cap.
 
A sequence of unfortunate developments has struck BALD meme coin enthusiasts, as the once-shining (no pun intended) digital asset has experienced a jaw-dropping 96% decline in trading volume. The root cause of this worrying situation stems from the withdrawal of more than 6,000 Ether in liquidity from the meme coin’s smart contracts, an action that has cast a foreboding cloud over the asset’s prospects. Removing such a substantial amount of liquidity had an immediate and profound impact, triggering an abrupt and steep decline in BALD’s price. Currently, the price of BALD stands at $0.01101692, according to CoinGecko data. Within the past 24 hours, BALD has experienced a significant price decline of 57.31%. Explosive Rise And Suspicion Surrounding BALD Coin BALD coin underwent an unprecedented surge in value within a single day immediately after its launch. However, this meteoric rise was soon followed by a sequence of perplexing actions that cast a shadow of doubt over the project’s legitimacy. The vigilant eyes of the Onchain Intrigue Telegram Channel turned towards BALD’s wallet activities (see image below) after a sudden withdrawal of liquidity. This subsequent investigation brought to light a set of alarming indications commonly associated with a phenomenon known as a “rug pull.” In the intricate world of cryptocurrencies, a rug pull constitutes a type of scam in which the creators or promoters of a token vanish after attracting investment, leaving participants high and dry with their funds pilfered. Rug pulls have earned a notorious reputation in cryptocurrency, particularly in decentralized finance (DeFi). These incidents transpire when developers execute an elaborate ruse, projecting an image of authenticity around their project, only to swiftly abscond after removing the liquidity, leaving investors in the lurch. Darkening Clouds Of Skepticism Compounding the unease, recent speculation has arisen linking BALD coin to Alameda, a prominent quantitative cryptocurrency trading firm. While these connections are yet to be substantiated, the mere existence of such ties threatens to deepen the ongoing crisis surrounding BALD. This potential association also raises pertinent questions about the community’s trust in analogous projects, further amplifying the sense of uncertainty that shrouds the cryptocurrency landscape. Related Reading: Binance Coin (BNB) Price Gears Up For A 10% Upswing – Here’s How Meanwhile, after the troubles that hit BALD, there’s a new start in sight. A new BALD token has been introduced; this time, it’s designed with locked liquidity. This move is meant to bring back hope and trust to the project. It shows that the people behind BALD are determined to make things right and regain the confidence of those who believed in them. (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 Yahoo Finance
 
The FTX Dubai didn’t file for bankruptcy in the United Arab Emirates. Removing the Dubai unit from legal proceedings is necessary to protect the debtors. FTX, the bankrupt crypto exchange, has recently reached an agreement on principle with Genesis to resolve the claims made by both firms in an ongoing lawsuit over Chapter 11 cases. In the latest development, the crypto exchange wants to remove its Dubai unit from the legal proceedings, according to court filings on Tuesday. According to the report, the crypto exchange FTX filed for bankruptcy in the United States last November. Moreover, the chief executive, Sam Bankman-Fried, stepped down after the liquidity crisis. And then, it started Chapter 11 cases for 102 associated entities from around the world. FTX Dubai Unit Didn’t File for Bankruptcy The FTX Dubai was set up in February 2022 and is owned by the exchange’s European arm. It was also one of the units that included legal proceedings. However, the bankrupt exchange argued that the Dubai unit didn’t file for bankruptcy in the United Arab Emirates. So there is no way to include it and rehabilitate its operations. Moreover, FTX wants to remove FTX Dubai from the filings. Adding to that, the filing stated that FTX Dubai is a balance sheet solvent, which means it provides a summary of all assets and liabilities held. Moreover, the debtors believe that the solvent voluntary liquidation procedure is in line with UAE laws. It also provides a timely positive cash balance after every outstanding liability and the liquidation of all assets. The crypto exchange argues that if any court includes FTX Dubai in the proceedings, it should be removed. Moreover, the decision is necessary to protect the debtors and authorize them. The hearing is scheduled for August 23, 2023.
 
LTC crypto payments increased by 34% on BitPay records. Litecoin Halving impacted LTC price with a 5.77% drop in the last 24H. After the last halving event on Aug 5, 2019, Litcoin Halving happened yesterday (Aug 2, 2023) as per the schedule. The expectation of the halving event kept predominantly to impact the price with a surge yet the result ended up with a drop of 6% in approximation. However, a total number of 2,520,000 blocks has been mined for the third Litecoin Halving resulting in a reduced block reward of about 6.25 LTC. Over the past week, Litecoin (LTC) dropped by 5.70% even after halving occurred. Currently, the LTC is trading at $86.15 with a fall of 5.77% in the last 24 hours. Litecoin (LTC) 24H Price Chart (Source: CoinMarketCap) On the contrary, CoinMarketCap, the analysis platform records the trading volume of Litecoin with a surge of 15.35% worth $862,766,359 during the time of writing. This shows that investors and traders are rushing to trade LTC as the price drop. On the other hand, LTC transactions are beating the race of crypto payments with the second rank on BitPay, the leading crypto payment service provider. Is LTC Ahead of BTC on BitPay? As per the statistics shared by Litecoin on Twitter, it seems bullish over the transactions and the crypto payments happening on BitPay. Compared to the previous month, there is a plunge of 34% in LTC transactions on BitPay. Consumers and users have been utilizing crypto payments for a long while. Currently, Bitcoin (BTC) tops amongst the other crypto payments with 36.47% in the month of July on BitPay. With respect to the graph of the last 5 months shared by the Litecoin Team on Twitter, it is noted that BTC has always topped and LTC stayed next to it on BitPay. Moreover, the payment scale has decreased overall for BTC. Meanwhile, Litecoin gains popularity among the crypto community as the trading kept increasing day by day. Also, the hashtag #PayWithLITECOIN is initiated by the LTC team for crypto payments through BitPay. Highlighted Crypto News Today: Litecoin Halving Finally Completed; Surprisingly Price Drops 6%
 
The gaming and entertainment company WAGMI Games has announced key recruits that will guide its effort to revolutionize web3 entertainment. The mobile-first gaming business has onboarded a handful of notable individuals with backgrounds in top international gaming studios. In order to hire elite people who can excel in a web3 context, WAGMI Games has looked to established gaming firms. Esteban Gil, who oversaw the top-grossing mobile game Garena Free Fire and worked as LPM (Lean Portfolio Management) at Respawn and Apex Legends, is one of the most notable of them. Esteban has taken on a similar position at WAGMI, where he will be in charge of developing business strategies with an emphasis on consumer-oriented products. Additionally, Brent Pease, a former director of operations at Electronic Arts, has been appointed by WAGMI Games. At WAGMI, the prominent executive has taken on a dual job as COO and GM, managing operations with a focus on executing crucial growth plans. Brent, who founded Industrial Toys before taking on a senior position at Electronic Arts, which purchased his firm, is a well-known personality in the gaming industry. With just 3% of the 3 billion gamers that regularly engage in gaming, WAGMI Games is working to increase the popularity of web3 games. The WAGMI team is sure that it can develop extremely engaging games that are suited for the general market by lowering participation barriers like onboarding friction and crypto wallet needs. In order to overcome these difficulties, WAGMI Games has put together a talented group of experts with a track record of creating and releasing successful blockbuster video game franchises. With this skilled group of founders, senior executives, and producers, it will be possible to perfect every potential touchpoint and create a gaming experience that fully exploits web3. In order to fulfill its goal of developing popular web3 games with viral appeal and endurance, WAGMI Games has carefully chosen great people for every position, from production and management to game balance and marketing. The fact that WAGMI was able to persuade Esteban Gil and Brent Pease to join its team is evidence of the company’s vision and support for web3 gaming. They will be essential in WAGMI’s efforts to expand the company’s market for mobile gaming. While Esteban is directing a thorough overhaul of the company’s game economy and methodically planning current operations and future expansions, Brent’s broad expertise and a wide network of connections will be crucial in fostering WAGMI Games’ development.
DALLAS–(BUSINESS WIRE)–Monetate, the leading personalization platform for delivering better customer experiences, today announced results and key accomplishments for Q2 2023. Responding to the needs of the industry, the second quarter of 2023 focused on enhancements to the company’s AI-powered product recommendations, including improved UI and reporting capabilities. “Prospect and client feedback are big drivers of innovation at Monetate, and with these key improvements, we are further differentiating our personalized merchandising offerings to help organizations move more inventory at scale,” stated Brian Wilson, CEO of Monetate. Monetate’s Global Recommendations Reporting enhancements include two additional reports to better break down and understand how various experiences and recommended products are performing at the account level for increased visibility across large and enterprise organizations. Another release, allows brands to deliver customer-relevant product recommendations in order confirmation and shipment confirmation emails to help drive upsell and cross-sell opportunities during key junctures of the post-purchase journey. These enhancements come on the heels of original research from Monetate’s eCommerce benchmarks showing that emails sent by Monetate clients that also included product recommendations saw an increase of 45.6% in purchases when compared to this period in 2022. Furthermore, in Q2 2023, email proved to be a solid performer with a 2.6% increase in total purchases and a 2.9% increase in conversion, compared to Q2 of 2022. Data from this same period also showed a 12.3% increase in total purchases from desktop compared to Q2 2022. These trends indicate that when leveraged correctly, and across the right digital channels, personalized merchandising and marketing yield valuable gains for businesses. Monetate Product Recommendations incorporate robust product discovery capabilities and algorithms familiar to marketers and merchandisers from the legacy Certona platform. “It’s an exciting time at Monetate, and for our clients as we hit the mid-year mark and head into the fall, we’re ready to help them continue to drive real-time personalization and cross-channel optimization,” added Wilson. ABOUT MONETATE Monetate is shaping the future of digital customer experiences. Powered by patented machine learning, Monetate empowers organizations to use relevant data to make the most intelligent and personalized decisions across touchpoints. Capabilities such as testing and experimentation, recommendations, and automated 1-to-1 experiences give brands the ability to deliver the right experience at the right time to their customers. Monetate has incorporated powerful capabilities from Certona to provide the most comprehensive personalization solution, all within a single platform. Founded in 2008, with a presence in the U.S. and Europe, Monetate is trusted by leading organizations around the world and influences billions of dollars in revenue every year for top companies such as Reebok, Office Depot, and Lufthansa Group. Learn more at www.monetate.com. Contacts Alison Guzzio [email protected] 484-459-3243
 
In a cryptic move that has the XRP army speculating, Europe’s leading cryptocurrency exchange, Bitstamp, has teased a significant announcement related to the token. The Luxembourg-based exchange made this known via a tweet that simply read, “tomorrow,” accompanied by the XRP-themed hashtags #XRP, #XRPL and #XRPLedger and a suggestive video. The video, a brief animation showing an XRP rocket ascending, indicates that the forthcoming announcement could potentially result in significant news for the XRP Ledger, eventually boosting the price. However, Bitstamp stopped short of offering any explicit hints about what this announcement might entail, leaving the community buzzing with anticipation. What Might Be Bitstamp’s Announcement? XRP’s followers were quick to respond, sharing their theories on what Bitstamp’s forthcoming announcement might involve. Panos, the founder of Digital Generation Finance, expressed his belief that Bitstamp could be set to announce a full integration with the XRP Ledger (XRPL). “The announcement could reveal that DEX has been connected to Bitstamp’s order book, focusing on fiat ramps for payments,” Panos conjectured. This notion was seconded by prominent XRP community member @XRPcryptowolf, who also postulated that Bitstamp could be planning an XRPL integration. Meanwhile, another XRP fan named @wEeZiE posited that Bitstamp’s announcement might have something to do with Ripple’s recent minority stake acquisition in the exchange. Back in May, Ripple acquired a stake in Bitstamp in a bid to expand its international operations and diversify its offerings beyond payments. A transcript of the Galaxy shareholder conference revealed at the time that Ripple had acquired the shares from Pantera Capital, another crypto investment firm based in the US. Pantera was one of Bitstamp’s largest shareholders until 2018, when the exchange was acquired by Belgian investment firm NXMH. However, it is unclear how much Ripple paid for the acquisition or how the deal was structured. “wEeZiE” stated, “Recall Ripple president Monica Long’s comment about Ripple’s recent stake acquisition in Bitstamp. She mentioned that the move would strengthen Ripple’s international presence and diversify its offerings beyond payments. Perhaps Bitstamp’s tease pertains to this?” Remarkably, Bitstamp has been a major Ripple gateway for years, granting clients access to RippleNet and serving as a key partner for Ripple’s On-Demand Liquidity (ODL). XRP Investors Don’t Buy The News At press time, the market has not reacted to the announcement of the announcement. On the contrary, XRP has lost key support at $0.6760 and marked a new 3-week low following the summary judgment in the US Securities and Exchange Commission (SEC) case. For now, the price has found support at the 200 EMA (Exponential Moving Average) at $0.6543. If this support breaks as well, a plunge towards $0.60 could be on the cards. On a bullish note, if Bitstamp’s announcement tomorrow can excite XRP investors, the $0.6760 level would be the first resistance. In case of a breakout, a spike up to $0.7249 is likely.
 
Kaspa (KAS) recorded a new all-time high of $0.04844. KAS solidified its position as one of the top-performing coins in July. Technical analysis suggests that Kaspa (KAS) is in a bullish state. Kaspa (KAS) cryptocurrency has caught the attention of the crypto community with its significant performance, even in the midst of a bear market. Today, Kaspa (KAS) reached a new all-time high of $0.04844, solidifying its position as one of the best-performing coins in the month of August. In addition, Kaspa (KAS) maintains a consecutive four-day uptrend and has defied market odds. At the time of writing, Kaspa (KAS) trading price was $0.04646, showing a 9% increase over the past 24 hours. Also, the cryptocurrency has soared by 93% in the trailing 30-day period, leaving investors and enthusiasts intrigued by its bullish run. However, Kaspa (KAS) declines by 5% from its new all-time high. Still, the cryptocurrency continues to be an enigmatic presence in the crypto market and has earned a spot on the list of top gainers. Its steady rise and strong momentum have garnered widespread attention among traders and investors alike. Kaspa (KAS) Market Status The current price of Kaspa (KAS) indicates positive momentum as it surpasses the 50-day moving average (MA) cross. A sign of a potential upward trend in the market. Further, the Relative strength index (RSI) stands in an overbought state, suggesting that bulls currently have a slight edge in the market. Kaspa (KAS) Price Chart (Source: Tradingview) On the other hand, the 50-day moving average crossing above the 200-day moving average presents a buy signal, which could attract further interest from investors. In summary, Kaspa (KAS) is showing signs of continuing bullish sentiment in the market. In a bid to further solidify its position in the market, KAS recently initiated a crowdfunding campaign. Aimed at securing a Tier-1 Exchange listing for the KAS token. The campaign closed on August 2, 2023 and had a target of raising $30,000 through contributions in USDT and KAS. The funds raised from this successful crowdfund will be used to cover the listing fees that the centralized exchange (CEX) may impose for listing the KAS token. Additionally, the allocated funds will be used at the discretion of the CEX. To conduct a comprehensive and strategic advertising campaign to promote the token. Highlighted News Today XDC Hits One-Year High, Surges 300% in the Bear Market
 
One of Coingecko’s top five cryptocurrency exchanges, Bybit, is excited to announce that its peer-to-peer (P2P) trading service is now available for customers to purchase cryptocurrency on-chain. With the P2P improvement, customers may presently buy USDT with more than 62 different fiat currencies while receiving cryptocurrency on the Ethereum and BNB blockchains. Users may instantly receive USDT in their secure Bybit Wallet. Also, more cryptocurrencies will be added in the near future. Taking into account variables like the nation/region, selected payment method, desired currencies, and suitable suppliers, Bybit intelligently presents the best deals. As part of its mission to become the world’s Crypto Ark, Bybit connects cryptocurrency buyers and sellers. Additionally, Bybit Web3’s P2P capability offers secure peer-to-peer transactions by using an escrow mechanism to guarantee that each trade is carried out easily and transparently. Bybit is well known for its dedication to providing aggressive rates, minimal fees, and consistent conversion rates. Users may anticipate affordable pricing and the opportunity to choose from a variety of payment choices with this new feature.
 
Dogecoin (DOGE) has recently captured attention due to its price’s downward trajectory. While the current decline in DOGE’s price might raise concerns, astute traders are discerning a potential opportunity amidst the turmoil. As reported by CoinGecko, the DOGE price stands at $0.074288, reflecting a 3.6% drop in the past 24 hours and a 5.2% decline over the past seven days. These figures emphasize the coin’s recent volatility and the challenges that DOGE holders and traders face. However, beneath the surface of these numbers lies an intriguing pattern that might hold the key to future price action. Dogecoin Potential For Bullish Continuation Despite the recent price woes, technical analysis unveils a fascinating pattern on DOGE’s four-hour time frame chart – the bullish flag pattern. This pattern, often observed as a continuation signal, consists of a sharp downward slide resembling a flagpole and a consolidation phase marked by parallel trendlines. In DOGE’s case, this pattern is at play, suggesting that the ongoing price decline is a precursor to a bullish resurgence. According to a recent report, the battle between support and resistance levels is evident. DOGE’s price movements within the channel structure reflect this struggle vividly. The support trendline has demonstrated its strength with three discernible bounces, underscoring its importance as a potential rebound point. Conversely, the overhead resistance has twice thwarted upward price movements, showcasing its influence over trader decisions. These dynamics highlight these levels’ pivotal role in determining potential trend shifts. Historically, flag patterns indicate a temporary pause following a notable price movement, often paving the way for continuing the prior trend. If DOGE’s buyers successfully breach the resistance barrier, an estimated 8% price surge could enable the coin to break through the psychological barrier at $0.085. Divergent Perspectives Amid the optimism surrounding the flag pattern, caution is unveiled in a separate report. The report’s viewpoint suggests a bearish outlook for DOGE, grounded in the coin’s struggles to overcome the resistance of a falling wedge pattern. DOGE might experience a retracement in a more pessimistic scenario, descending to the wedge’s diagonal support at around $0.055. This divergence in opinions underscores the inherent unpredictability of the cryptocurrency landscape. While the downward trajectory of DOGE’s price might trigger concern, it also beckons an opportunity for those who analyze its underlying patterns. The emergence of the flag pattern amidst the price decline hints at the potential for a bullish continuation. Yet, analysts’ differing perspectives serve as a reminder of the intricate nature of cryptocurrency markets. (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 Reddit
 
Microstrategy, the software giant is set to release its balance sheet report soon. Meanwhile, investors are wondering if Bitcoin (BTC) still leads their holdings given Bitcoin’s recent price drop. Two other tokens that have gained attention in the crypto space are Ripple (XRP) and Pomerdoge (POMD). While Ripple’s SEC case has taken a new turn, Pomerdoge is conquering the blockchain gaming space with its token presale. Click Here To Find Out More About The Pomerdoge (POMD) Presale MicroStrategy Reveals Balance Sheet, Where Is Bitcoin (BTC)? MicroStrategy, a public firm known for its high Bitcoin purchase is set to announce its Q2 2023 earnings report today. Despite criticism, the company remains committed to using Bitcoin as a hedge against inflation. Many were not expecting that MicroStrategy would have sold some of its Bitcoin holdings. Moreover, the company’s former CEO has reiterated that MicroStrategy will not sell its Bitcoin. Interestingly, the firm has over 152,333 BTC worth about $4.5 billion at an average price of $29,668. Meanwhile, Bitcoin has dropped below the crucial $29,000 price point. According to CoinMarketCap, it is trading at $28,853.77 after falling 1.85% in the last 24 hours. This drop comes after the US SEC filed a lawsuit against Richard Heart and his crypto ventures, PulseX, PulseChain, and Hex. Ripple (XRP) Remains Bullish Despite Breaching Critical Support According to recent developments, the proceedings of the SEC vs. Terraform Labs case have cast doubt on Ripple’s victory. The Judge presiding over the Terraform Labs case had dismissed Ripple’s victory. Consequently, due to these developments, XRP has fallen below the $0.7 area. Besides, the token has been fluctuating between the $0.965 and $0.666 levels in the past month. Nevertheless, if the ruling in the SEC vs. Ripple lawsuit is officially questioned, the XRP price could plummet by 25%. Such a move would bring XRP down to the $0.520 support level of $0.520. In a worst-case scenario, the altcoin might even drop as low as $0.392. Currently, XRP is trading at $0.687532, a 2.35% price decline in the last 24 hours. Pomerdoge (POMD) Outperforms the Crypto Market Pomerdoge (POMD) is building a play-to-earn game that will transform the crypto and blockchain gaming space. Interestingly, the platform has attracted investors from across the crypto ecosystem with its token presale. The upcoming blockchain-based game, “Pomergame” adds to the anticipation, promising unprecedented thrills and rewards for players. Pomergame functions as the central hub for enjoyment and rewards, providing players with the opportunity to connect, compete, and earn. Gamers can enhance their characters or avatars to elite levels and create customized digital items for their virtual personas. Furthermore, players have the opportunity to engage in exciting battles, fighting their Pomerdoge against other members. Another feature of the ecosystem is Pomerplace, an upcoming marketplace. Players will be able to buy, sell, and trade valuable in-game items on the marketplace. The ecosystem takes pride in its NFT collection, featuring 7,777 digital collectibles. This will be accessible to only Pomerdoge holders. Currently in its first stage, the presale offers POMD tokens at just $0.007. Market experts have forecasted a 17x price surge soon and 5,000% gains by the end of 2023. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge 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.
 
MicroStrategy co-founder and former CEO Michael Saylor has stated that potential Spot Bitcoin ETF approvals will not influence the company’s “Bitcoin Strategy.” MicroStrategy Has A Unique Bitcoin Offering During a discussion with Bloomberg on August 2, Saylor stated that even if the SEC approves the spot Bitcoin ETF applications, it would not affect his company’s offerings. According to him, MicroStrategy’s Bitcoin offering offers a unique proposition that the spot Bitcoin ETFs cannot emulate. Saylor echoed similar sentiments during the earnings call on August 1 when he stated that MicroStrategy’s unique “Bitcoin operating strategy” will make it stand out even when spot Bitcoin ETFs arrive. The ex-CEO explained that, “We can tap into leverage because we’re an operating company, which an ETF couldn’t do so we view it as being beneficial to the entire ecosystem.” However, he believes these spot ETFs are good for the crypto industry as they will welcome institutional investors who boast more than enough liquidity into the space. Differentiating his company’s offering from spot ETFs, he stated: MicroStrategy had filed an application to the SEC to sell up to $750 million in Class A common stock. Saylor also confirmed that his company would use the potential proceeds of this stock sale to “acquire Bitcoin.” MicroStrategy’s Chief Financial Officer, Andrew Kang, had also confirmed that the proceeds from the proposed sale will be used for “the purchase of Bitcoin as well as the repurchase or repayment of outstanding debt.” Saylor’s Faith In Bitcoin Paying Off Saylor’s MicroStrategy, which happens to be one of the largest holders of Bitcoin, started buying the cryptocurrency in 2020 as a hedge against inflation. The company’s purchases largely resulted from Saylor’s faith in the token as he continued to advocate for it despite the recent market conditions in the crypto market. Saylor stepped down as the CEO a year ago just to focus on the company’s Bitcoin purchasing strategy. This strategy seems to be paying off as it provides an edge for the company over its competitors, with the MSTR stocks rising tremendously since MicroStrategy’s adoption of Bitcoin. As revealed by Saylor in a tweet, MicroStrategy’s stocks have risen by 254% since 2020 when it started buying Bitcoin, with this performance putting the company above some key assets and big tech stocks in terms of performance. Saylor is not relenting as he confirmed that the goal is to “accumulate as much Bitcoin as we can” when quizzed about how much more Bitcoin the company intends to add to their existing holdings of 152,800 BTC.
 
The SFC of Hong Kong has upgraded two key licenses. The company is excited to expand its customer base to the retail sector. HashKey Exchange is the first cryptocurrency exchange in Hong Kong to get a license to operate for retail clients under the region’s new crypto guidelines, which are designed to turn Hong Kong into a global cryptocurrency center. HashKey Group, which includes virtual asset exchange HashKey Exchange in Hong Kong, made the announcement. The company is excited to expand its customer base beyond institutional investors and into the retail sector. The SFC of Hong Kong has upgraded two key licenses,. Thus, making it possible for HashKey to reach a new regulatory threshold. Pushing Crypto Adoption HashKey has obtained a Type 1 license, which enables the company to run a virtual asset trading platform in accordance with Hong Kong’s securities legislation. Type 7, the second, allows the company to provide automated trading services to both institutional and retail clients, as noted in the statement. Moreover, HashKey Brokerage, HashKey’s crypto over-the-counter (OTC) trading business, has also been officially launched. Following the SFC’s acceptance of a new crypto regulatory framework. The OTC platform is stated to be in accordance with local securities regulations. Moreover, HashKey’s fiat money deposit and withdrawal services are provided by Standard Chartered Bank. Venture capital, asset management, and trading are just a few of HashKey Group’s many areas of expertise. In light of Hong Kong’s efforts to become a worldwide crypto center. The group has revealed ambitions to raise $100 million to $200 million at a valuation of more than $1 billion. Hong Kong has emerged as a haven for crypto-related businesses as a result of increased regulatory scrutiny and crackdowns in various nations.
 
LUNC’s community has worked continually towards reviving the ecosystem’s native LUNC token. However, recent data from this artificial intelligence (AI) algorithm suggests these efforts might not be enough. LUNC’s Price Prediction PricePredictions, a state-of-the-art crypto analysis and forecasting platform, has projected Terra Classic (LUNC) to trade at around $0.000076 by the end of this month. PricePredictions combines indicators like average true range (ATR), relative strength index (RSI), and moving average convergence divergence (MACD) to make such forecasts. Suppose this projection is anything to go by, it means LUNC will experience a decrease from its current price by August 31, 2023, with LUNC currently trading at around $0.000079, according to data from CoinGeko. While this news is undoubtedly bearish for the LUNC community, there was more to cheer about following Binance removing 1.14 billion tokens from circulation as part of the LUNC burn mechanism. LUNC’s price also surged following this news, although it has since retraced. While the machine-learning prediction indicates a potential decline in LUNC’s price, it is important to note that the recent price spike following the Binance announcement demonstrates that positive developments can potentially reverse the trend of Terra Classic. Such events could potentially mean that we could see more uptrend from the token as the community continues to propose solutions that could see regain the confidence of investors and push its once stablecoin USTC to re-peg with the dollar. USTC Decision Likely To Affect LUNC Vegas, a member of the LUNC community, had earlier proposed in a tweet that the $800 million USTC tokens linked to the Ozone protocol should be returned to the Terra Classic community pool because of the ineffectiveness of the project and its failure to adhere to the proposed development plan. Meanwhile, there has been a conflicting proposal from Alex Forshaw, a co-author of the Terra Classic Revival Roadmap, who has proposed that the $800 million USTC tokens be burned instead. He believes that validators and stakers who have a strong influence on the ecosystem will most likely dump their tokens, leading to a further decline in the token’s value. While whatever proposal the community moves forward with will affect USTC’s price with the hope that it finally reclaims its peg with the US dollar, it will most likely affect LUNC’s price too. Currently, LUNC’s price is trending at $0.00007925, down 1.62% in the last 24 hours and 3.08% in the last 7 days. However, this downtrend could quickly reverse if the community is able to figure out a way to re-peg USTC to the US dollar.
 
MAHE, Seychelles–(BUSINESS WIRE)–The “2023 Exploring WEB3.0 Summit – Vietnam Station,” hosted by SureX at the CHAMPA ISLAND NHA TRANG–RESORT HOTEL & SPA in Vietnam, has drawn to a triumphant and resplendent conclusion. The summit, focused on cutting-edge technological concepts such as Web3.0 and DAO, assembled nearly 1000 global influencers including crypto teams, expert scholars, academic institutions, investment research bodies, corporate executives, crypto investment enthusiasts, practitioners, and other Web3.0 builders. The summit officially commenced on July 28th, 2023. In the keynote address, “Unveiling the Path to Success, Charting the Journey to the Future,” SureX Exchange’s CMO, Dato’ Seri Willie, provided an in-depth explanation of how the exchange successfully activated over one hundred thousand global users within a mere six-month span. He also displayed a distribution map of SureX global operational offices and outlined the structure of the user community. The roundtable discussion unfolded around two main topics: “In the current state of Web3’s development, how does one identify investment opportunities?” and “Imagining the Future of Web3.” Participants in this intriguing conversation included Dr. Huang Lianjin, CEO of DistributedApps.ai, One Alpha’s Business Supervisor Mr. Declan Rhys Sidey, SureX CEO and Founder Jacky Zhou, SureX Marketing Director Dato’ Seri Willie, and GateFi’s Technical Director Mr. Morgan. Mr. Jacky presented a series of views, emphasizing the need to focus on market trends and community feedback, as well as assess technological advantages and application potentials. He noted that decentralized exchanges would emerge as a trend, with Web3.0’s decentralized and cross-chain features offering convenience and security for cross-border transactions and trades among multiple tokens, that SureX Exchange would orchestrate an encrypted financial ecosystem to propel inclusive financial growth. Dato’Seri Willie, the CMO of SureX Exchange, excitedly announced a new benefit policy at the event, SureX will collaborate with a global community of several hundred thousand people to airdrop Dragon Token to all users within the SureX community. About SureX SureX, a globally leading cryptocurrency copy-trading platform, aims to build a friendly, low-barrier cryptocurrency trading ecosystem and constructs a global digital ecosystem that spans multiple countries and regions, and offering diversified digital asset financial services to users worldwide. Contacts JACKY ZHOU [email protected]
 
The company’s EBITDA grew by 31% progressively to $151 million. Robinhood is getting ready for expansion in the UK. Despite a decline in revenue, Robinhood announced profitable results for the second quarter of 2023, marking the first time the firm has turned a profit since becoming public. The trading platform had an 18% decline in quarterly revenue from crypto transactions to $31 million, as reported in its financial report on August 2. From $202 million in June of last year to $193 million this year, its revenue has dropped by 4%. Managed to Turn Profit Despite a drop in revenue, the firm nevertheless managed to turn a profit of $25 million, or $0.03 per share, in the second quarter of this year. Total operational expenditures have improved over the previous several months, decreasing by about $45 million on average. The company’s EBITDA grew by 31% progressively to $151 million, with the margin increasing by 5 percentage points to 31%. Last quarter, the total assets in custody rose by 13% to $89 billion on the back of “higher equity valuations and continued net deposits.” With a net deposit of $4.1 billion, Robinhood had an annualized growth rate of 21% compared to the first quarter of 2023 for assets under custody. Net deposits were $16.1 billion in the last 12 months, up 25% year over year. In anticipation of the upcoming second-quarter earnings releases for Coinbase (COIN) and Robinhood (HOOD), Ark Invest CEO Cathie Wood allegedly dumped millions of dollars worth of shares in both companies. On the other hand, Robinhood is getting ready for expansion in the UK. Because of this, a top executive from the British fintech company Freetrade has been recruited by the US stock trading app. Highlighted Crypto News Today: ASIC Files Lawsuit Against eToro Over CFD Offerings
 
The market has seen the rise and fall of several cryptocurrencies lately. While projects like Cardano (ADA) and Aptos (APT) have struggled to sustain their market share, a new project, Tradecurve (TCRV), has turned out to be the favorite of crypto experts and investors. Its presale is cruising high, and is set to rake in $20 million. >>Register For The Tradecurve Presale<< Cardano (ADA) Investors Are Out Of The Money Following the decision of Robinhood to delist Cardano after the SEC lawsuit, ADA has suffered a severe drop in its market value. The trading price of Cardano (ADA) has fallen by 18% in the past seven days. As a result, Cardano is now changing hands at $0.26. This sudden and severe price crash has caused panic among Cardano investors, as the value of their investment has tanked as well. According to recent data from IntoTheBlock, about 92% of Cardano holders are currently Out of The Money (OTM). Subsequently, the trading volume of Cardano has plunged since traders are not actively engaged in ADA trading. The development activity on the Cardano network has also declined in the last week, from 21 to 17.84 at press time. FUD Around Aptos (APT) Grows Although Aptos has managed to skirt the SEC scrutiny, the FUD has grown around APT. Subsequently, the exchange rate of Aptos has hit a roadblock by falling 22% in the last week. At the time of writing, Aptos is changing hands at $6.06. According to experts, the SEC’s lawsuit against Binance and Coinbase has made Aptos investors take a more cautious approach. Meanwhile, Aptos has taken steps to increase its adoption, and network activity. Recently, Aptos joined hands with Mastercard to build identity, security, trust, and verification tools. Besides, it recently gave a grant of $3.5 million to around 50 projects to develop on the Aptos network. Aptos was one of the biggest newsmakers in 2023, as it pumped by over 400% in January, but since then, it is tumbling. Tradecurve Presale Rules Crypto Market Tradecurve is a first-of-its-kind blockchain-powered exchange that allows the trade of a wide range of assets. Since the demand for decentralized exchanges is growing at an impressive rate of over 33%, the new platform is set to become a leader in the crypto industry. Besides cryptocurrencies, users can trade in several markets, including bonds, ETFs, and other derivatives, on this platform. Moreover, traders need not open multiple accounts or undergo any KYC process to trade different assets. The cross-chain platform enables traders to create an account by using an email id, and trade instantly. It also offers the opportunity for high-leverage trading. It has implemented DeFi capabilities to ensure the privacy protection of its users. On the contrary, other centralized exchanges, like Bitcoin and Gemini, are infamous for their privacy-infringing procedures. The platform’s presale round is advancing through the fourth stage after completing three stages at a staggering growth rate. The TCRV token’s price is currently $0.025, which was just $0.01 at the beginning of the presale. Since TCRV’s market value is projected to boost by 80x before the presale ends, you must book tokens as early as possible to gain massive profits. For more information about the Tradecurve (TCRV) presale: Website: https://tradecurve.io/ Buy presale: https://app.tradecurve.io/sign-up Twitter: https://twitter.com/Tradecurveapp Telegram: https://t.me/tradecurve_official 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.
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