PEPE is garnering attention from major investors as the buzz surrounding the meme coin continues to grow. However, despite the increasing interest, these tokens are grappling with a persistently bearish sentiment, as their price performance remains lackluster. In an interesting turn of events, a significant number of investors are beginning to cast their gaze upon PEPE. Lookonchain’s latest report reveals a notable occurrence – a user invested 27 ETH, equivalent to $45,000, to secure a staggering 50 billion of the frog-themed token. More astonishingly, this same investor managed to acquire a jaw-dropping 5.9 trillion PEPE tokens for a mere 0.125 ETH, roughly valued at $251. This strategic move was followed by the sale of 3.95 trillion PEPE tokens, resulting in an impressive haul of 2,505 ETH, equivalent to $4.7 million. Surge In PEPE Interest Amid Mixed Sentiment Despite the glaring positivity in terms of investor activity, the overall sentiment surrounding PEPE tokens remains less than stellar. Lookonchain’s data cited in a price report indicates that social mentions related to the meme coin witnessed a solid 151.3% surge. Likewise, social engagements related to the coin also experienced a substantial uptick of 106.9% during the same period. This surge in interest could potentially pave the way for a more dynamic price movement for PEPE tokens in the future. However, the buoyancy in social media activity was not mirrored in sentiment. Santiment, a prominent on-chain analytics firm, utilized a weighted sentiment indicator to gauge the general outlook of PEPE across various social media platforms. This indicator painted a predominantly negative picture of the meme coin’s sentiment landscape, casting a shadow over the excitement surrounding the token. Price Volatility On The Horizon Santiment’s analysis also spotlighted a pivotal moment in PEPE’s journey – the transfer of a substantial 16 trillion Pepe tokens by the developers for sale on exchanges. This move thrusts Pepecoin into the spotlight as the top trending crypto topic. However, Santiment’s cautionary note echoes concerns about heightened price volatility that may lie ahead for PEPE tokens, further complicating their price trajectory. Meanwhile, PEPE is trading at a current price of $0.000000839460, with a 3.6% decline in the last 24 hours and a significant seven-day slump of 21.0%, as reported by CoinGecko. As PEPE continues to captivate larger investors and experience a surge in social media interest, the prevailing negative sentiment and ongoing price struggles underscore the challenges facing this unique cryptocurrency. (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 Coin Edition

Douro Labs Joins Network to Work on Perseus Upgrade as well as Permissionless Mainnet with Token-Led Governance PORTO, Portugal–(BUSINESS WIRE)–Douro Labs, a software development company dedicated to advancing the Pyth Network, officially launches today and is excited to be joining the network as the latest core contributor. The Pyth Data Association and the Pyth Network’s community includes a vast network of data contributors including top trading firms, leading exchanges, and premier crypto companies globally including Cboe Global Markets, Optiver, IMC, Flow Traders, OKX, Bybit, Wintermute, QCP Capital, Auros, Susquehanna International Group, and LMAX. The Douro Labs entity will initially work to implement the Perseus Upgrade and bring the network into a permissionless mainnet with token-led governance for the fall of 2023. Pyth Network is the largest first-party oracle for financial data. Oracles are programmatic data feeds that bring off-chain data on-chain for smart contracts to use. They are an essential component of decentralized finance (DeFi). The Pyth Network provides low-latency, high-fidelity, and tamper-resistant price data feeds directly to blockchains through a vast network of first-party data providers. “We are thrilled to welcome Douro Labs as the newest contributor to the Pyth Network,” said Marc Tillement, Director at Pyth Data Association. “The Pyth Data Association was formed with a mission to create the largest, most robust financial data marketplace for decentralized finance to build on. Thanks to a diversity of contributors and a growing ecosystem of users, the Pyth Network has quickly become the largest first-party oracle network.” Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. “The Pyth Network is the fastest growing decentralized oracle, and is already becoming the go-to solution for modern DeFi applications that need cheap, lightning-fast, ultra-accurate pricing information,” said Mike Cahill, CEO of Douro Labs. “At Douro Labs, we are committed to accelerating the network’s continued growth and lifting up the next generation of DeFi apps that are building new tools and experiences that simply aren’t possible on legacy oracle infrastructure.” “As one of the founding institutional data providers on the Pyth Network, we are pleased to see the formation of Douro Labs as a dedicated blockchain infrastructure company,” said David Mercer, CEO of LMAX Group. “We look forward to supporting Douro Labs as it accelerates the development of this transformative and fundamental building block of the new financial infrastructure for both DeFi and TradFi. This expansion of capability underscores the value of democratizing the distribution of readily available, real-time and verifiable market data.” First-generation oracles rely on networks of third-party operators to source and aggregate pricing data, which is typically achieved through unauthorized scraping. Pyth Network’s model eliminates slow, unreliable third-party data aggregators and replaces them with fast, first-party data providers, such as trading firms, exchanges and brokerages. “Auros is thrilled to see the formation of Douro Labs, which furthers the mission of Pyth Network to democratize high-fidelity market data for all blockchain participants. The Auros team is a proud supporter of Pyth’s vision,” added Ben Roth, co-founder and CIO of Auros. “Together with the talented individuals at Douro Labs, we are committed to contributing to the advancement of Pyth’s decentralized oracle solutions and the growth of the blockchain and Web3 ecosystem.” The Pyth Network supports more than 300 sub-second price feeds across major asset classes including digital assets, equities, ETFs, FX and commodities. Additionally, over 180 DeFi and CeFi applications use the Pyth Network, including projects like Synthetix, Venus, Ribbon Finance, Vela Exchange, and Solend, as do more than 30 blockchains, including but not limited to Ethereum, BNB Chain, Arbitrum, Optimism, Base, Solana, Injective, zkSync Era, Fantom, Osmosis, Aptos, Sei, Aurora, and Sui. “Making market data accessible to investors has always been a core focus for us at IEX,” said Ronan Ryan, President of IEX Group. “We look forward to seeing how the talented team behind Douro Labs will add the tooling and infrastructure needed to make the Pyth Network a go-to market data solution.” To join the Pyth Network and become a data provider, please get in touch at pyth.network. If you’re interested in building applications on top of the world’s fastest-growing, most innovative oracle, get started in docs at docs.pyth.network/documentation. About Pyth Network The Pyth Network is the largest first-party oracle for the world’s financial data. It supports more than 300 real-time price feeds across major asset classes including digital assets, equities, ETFs, FX, and commodities. The network comprises some of the world’s largest exchanges, market makers, and financial services providers contributing their proprietary price data on-chain for aggregation and distribution to smart contract applications. Thanks to the Pyth Network’s innovative pull oracle design, applications can effortlessly “pull” the latest price onto their native blockchain on demand. In less than a year since the launch of its cross-chain pull model, the network has secured over $1B in total value. The Pyth Network has been used by DeFi protocols in over $65B in trading volume and in over 180 applications. You can learn more about the Pyth Network here and its documentation. About Douro Labs Douro Labs is a blockchain infrastructure company that contributes to the development and acceleration of the Pyth Network, the largest first-party financial oracle network for delivering real-time financial market data to smart contracts applications. Established in 2023, Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network’s suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants. To learn more about Douro Labs, please visit http://dourolabs.xyz/. About Pyth Data Association The Pyth Data Association is a Swiss association founded by Pyth Network participants to advance the development of the network. The Pyth Data Association is a contributor to the Pyth Network and helps facilitate protocol maintenance, ecosystem grants, and ecosystem development. To learn more about the association, please visit https://pythdataassociation.com/. Contacts Carissa Felger Gasthalter & Co. (212) 257-4170 [email protected]

ARKPIA at the forefront of uniting art and technology. Collaborating with international artists, leveraging its collection of curated artworks and IP to create a seamless fusion of digital assets, virtual exhibitions, AR, physical art, and blockchain technology. “ARKPIA Museum,” a virtual exhibition space set to launch on August 29th. The exhibit features the solo showcase and array of exhibitions of Gabriel Hollington, Sarah Beetson, and Florentijn Hofman. SEOUL, South Korea–(BUSINESS WIRE)–#ARKPIA–By converting the creations of renowned global artists into intellectual property (IP), the art brand ARKPIA engages in a variety of activities including offline exhibitions, artwork transactions, the production of art products, collaborations with brands, etc. To boost its global growth, ARKPIA is cooperating with well-known international artists and businesses. Notable partnerships include those of Florentijn Hofman, a Dutch installation artist well-known for his “The Rubber Duck Project” and Gabriel Hollington, a popular British illustrator notable for his collaboration with the fashion brand Vans. Collaboration artists also include Sarah Beetson, a British artist chosen by Saatchi Art in Australia for bright talent, and Ben Ouaniche, an internationally known Israeli visual artist with 1.9 million YouTube subscribers. ARKPIA is also working with the British illustrator Dan Woodger, who has created illustrations for brands like Pepsi, Apple, Samsung, McDonald’s, and Amazon. Additionally, ARKPIA plans to enter new contracts with prominent international businesses and major performers. ARKPIA announces that its online space museum will be planned in consideration of upcoming offline exhibitions showcasing the creations and worldviews of recruited artists. “Gabriel Hollington,” millennials and Generation Z’s well-known artist, will feature in the first exhibition under the theme of “Sneaky Downtown.” The erection of the exhibition space was planned by ARKPIA, while the technical execution was handled by Netstream. Open Worlds, Art Galleries, and Concept Halls will all feature Gabriel’s humorous and vivacious works. Gabriel will reveal his inner freedom, personality, and distinct perspective, providing joy to the audience as a street artist with experience creating murals. All the exhibited artworks will be connected to blockchain and can be bought as a digital asset. In the ever-evolving landscape of art where the boundaries are reshaped by advances in cutting-edge technology, Yohan Choi, the CEO of ARKPIA, has revealed the company’s commitment to pioneering new artistic frontiers. With a strong foundation in blockchain and innovative technologies, coupled with a global reach through its own artwork-purchasing platform, ARKPIA, aims to blend its artistic creativity and artists’ intellectual property to spearhead fresh ventures in the realm of art. As the technological landscape continues to reshape the art world, ARKPIA is poised to embrace these changes and push the boundaries of artistic exploration. ARKPIA Museum is supported by Japanese GameOn, and Korean Investment Partners, NEOWIZ. They carry out various activities through GameOn in Japan, including web2, web3, offline exhibitions, merchandising, and new IP initiatives, and these are in discussion to collaborate with several major international companies. Twitter Instagram Discord ARKPIA Museum Contacts ARKPIA [email protected] Younsu Kim VP/Director [email protected]

Some customers may be required to provide identification in line with Polish KYC rules. Two months earlier, Binance was told by Belgium’s financial authority to cease operations. Binance stated that its Poland subsidiary will begin serving citizens of Belgium in compliance with a directive from the Belgian Financial Services and Markets Authority (FSMA). Binance said on August 28 that the exchange’s Polish subsidiary, Binance Poland sp. z o.o., which was formed in January with approval from Polish regulatory authorities, would meet the “regulatory obligations” of Belgian citizens seeking services on the platform. Some Binance customers may be required to provide identification in line with Polish KYC regulations, rather than those of Belgium. About two months prior to the announcement, Binance was told by Belgium’s financial authority to cease operations and custodial wallet services for failing to comply with the country’s AML and Combating the Financing of Terrorism standards. All Eyes on Upcoming Legislation At the time, Belgium’s Financial Services and Markets Authority (FSMA) confirmed that Binance may do business in the country by way of a legal company incorporated under the laws of another European Economic Area (EEA) member state and approved by its home EEA member state. Currently, Poland is a member of the EEA. Binance has lately run into a number of regulatory hurdles. The cryptocurrency exchange stopped serving Dutch customers in July, claiming a lack of a VASP license as the reason. The U.S. SEC has also filed lawsuits against the exchange. Once passed, the Markets in Crypto-Assets law would provide a uniform regulatory framework for crypto assets throughout European Union member states. This is anticipated to occur in 2024. Highlighted Crypto News Today: Altcoins : Things to Know Before Investing in Bear Market

The relative strength index (RSI) shows that prices are now oversold. The price of Ethereum yet again made a failed attempt to break the $1660 mark. The overall crypto market seems to be stabilizing following a period of intense turbulence. At the time of writing Ethereum is trading at $1,645, up 0.82% in the last 24 hours as per CMC. However, Ethereum’s continuing decline over the previous month becomes more apparent at a wider scale as in the last month it has fallen by about 12.14%. Source: CoinMarketCap The relative strength index (RSI), shows that prices are now oversold. The price of Ethereum yet again made a failed attempt to break the $1660 mark. In order to begin a sustained rise, ETH has to break over the key short-term resistance at $1,660. Further Decline Likely Despite significant progress in network development and the brief recovery, the price of Ethereum looks to be trending lower in the next few weeks, according to an assessment by on-chain analytics platform Santiment. Post the price of Ether soared beyond $2,000 after the Shanghai upgrade earlier this year, the analytics platform’s data implies a pattern of whales and sharks engaged in considerable selling operations. Thus, according to Santiment’s analysis, Ethereum’s price is expected to decline further, maybe hitting a crucial support level at about $1,500. This data also supports the belief that trading activity in Ethereum will increase dramatically if the price hits the $1,500 level as traders will be eyeing to buy the dip. Since their peak in early November of the previous year, on-chain transaction volume and trading volume have significantly declined. Investors are not able to decide whether the present price of ETH is overpriced or undervalued, thus the shrinking trading volume.

Bitcoin dominance trend impacts altcoin sentiment, Ethereum’s PoS influence. Global crypto market cap holds strong at $1.09T. Amidst a crypto market dominated by bears, the global cryptocurrency market cap stands strong at $1.09 trillion. In the past 24 hours, a minor surge of 0.27% has occurred, reflecting a notable shift of 6.62% from a year ago. While Bitcoin (BTC) asserts its authority with a market cap of $507 billion, constituting 46.4% of the total market, the altcoin realm has not bowed down. Altcoins are surging in market capitalization alongside Stablecoins, which hold a formidable market cap of $124 billion. It is claiming an 11.38% stake in the crypto landscape. Dubbed as the “HODLing Phase” by analysts, the ongoing market turbulence finds whales, the crypto market’s significant players, setting the stage with vigilance. Santiment reports a surge in whale activity at the start of the week. The impact is evident in the market cap growth of numerous altcoins. Notably, networks witnessing transfers exceeding $10 million are creating ripples of volatility. Tokens like AAVE, COMP, CRV, IMX, & YGG are capturing attention as they ride the waves of change. Moreover, the spotlight on the above altcoins Price reveals volatility as well. AAVE, with a 3.29% surge in the past week, stands firm at $57. In contrast, COMP reflects a 7% dip, resting at $41. CRV has gained 5.61% in the last 7 days, with a notable 93.88% spike in trading volume over 24 hours. Immutable (IMX) has witnessed a 6.59% decline over the same period. Navigating the Altcoin Landscape As market dynamics shift, the question on investors’ minds is whether the current landscape heralds a new altcoin season. The past has seen altcoins skyrocket to extraordinary multiples, only to plummet afterward, often losing 90-99% of their peak value. To predict the altcoin resurgence, three essential factors come to light: sentiment, price patterns, and underlying fundamentals. Social media platforms have emerged as sentiment indicators. On platforms like YouTube, views related to cryptocurrencies have dwindled by 80-90%. Google searches exhibit a similar trend, signifying waning interest. Engagement has hit bear market lows. This scenario hints at the presence of survivors from the previous bear market, indicative of prevailing skepticism—a hallmark of early market recovery. However Altcoin projects continue their evolutionary journey. While fraudulent ventures have faded away, robust and innovative projects flourish. Ethereum’s transition to Proof of Stake (PoS) and the imminent launch of Ethereum ETFs demonstrate ongoing progress. Chainlink’s Chainlink Community Improvement Proposal (CCIP), Polygon’s impending Polygon 2.0 upgrade and broader DeFi and NFT advancements underscore the ecosystem’s vibrancy. According to Analysts , Drawing parallels from previous cycles, a period of high Bitcoin dominance, a precursor to halving events, often marks altcoins’ lowest sentiment. Current indicators lean towards a continuation of this pattern. Ethereum’s performance against Bitcoin adds intrigue. Unlike past cycles with pronounced corrections, the current cycle’s contraction is modest due to Ethereum’s transition to Proof of Stake (PoS). Some analysts suggest that accumulating positions, applying Dollar-Cost Averaging (DCA) during this period, and holding for two years could be the optimal approach. Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial, investment, or trading advice. The author and the website do not endorse or recommend any specific cryptocurrency, project, or investment strategy. Readers are advised to conduct their own research.

Since the price of Bitcoin fell below $30,000, numerous forecasts have been made on the currency’s potential future price outlook of the asset. As the biggest cryptocurrency in the world, Bitcoin has amassed price headlines, some of which are optimistic while others are pessimistic. However, a question that lingers is whether another crash is really the end of the world for Bitcoin. In such an event, Mike McGlone, a senior analyst at Bloomberg, believes that even a decrease in price to $10,000 would not be bad for Bitcoin. Bitcoin Still Outperforming The Stock Market A fall in Bitcoin to $10,000 would definitely lead to a chain of events in other cryptocurrencies, as most of the general market sentiment relies on Bitcoin. While many short-term holders and some long-term holders may panic sell, the long-term outlook is still bullish. Market analyst Mike McGlone puts the Bitcoin performance in comparison with the stock market, and the Amazon stock in particular. He points out that even with a 50% drop in its current price, BTC would still be outperforming Amazon stock. Amazon has had one of the best growth in terms of stock price in 20 years. Over the past 20 years, Amazon shares have generated a total return of over 7,000%. However, this is small when compared to how much BTC has grown since its launch in 2009 since the asset is up 26,000x since it first traded for $1 in 2011. “Bitcoin compares with 130% for Amazon on a similar measure, but that took about 25 years. Heading back towards $10,000 would still maintain Bitcoin’s unprecedented performance,” he said. Bitcoin is known for wild price swings since digital currencies are emerging assets, and volatility comes with the territory. With a current market cap of $506 billion, BTC has a 48.3% dominance in the crypto market. What’s Next For BTC? Bitcoin is currently trading at $26,000 after the cryptocurrency climbed over $30,000 earlier this year but fears have pushed the price back down to its current level. At its current levels, however, BTC is up more than 30.75% from the same period last year, showing a better price sentiment than in 2022. While BTC could definitely fall further below $26,000, a fall toward $10,000 is highly unlikely as many things would have to go wrong for BTC to reach $10,000. BTC is also gaining more mainstream traction from institutions, especially with current spot Bitcoin ETF filings. As a result, there is a greater possibility of Bitcoin’s price increasing than decreasing in the coming months. This is not the first time $10,000 price predictions have come in regarding BTC. Late last year, Mark Mobius, founder of Mobius Capital predicted Bitcoin might drop to $10,000 in the short term. On the other hand, there have been some optimistic forecasts made recently. Tom Fundstrat, one of the co-founders of Fundstrat, believes the price of BTC could reach $150,000 or maybe even further by the end of next year.

The price of Shiba Inu (SHIB) has experienced a downward trend over the past several days. This corrective phase, marked by declining trading volumes, is shedding light on a potential weakening in bearish momentum. Interestingly, this price action aligns with the emergence of a triangle pattern, a technical phenomenon that often holds significant implications for market trends. In technical analysis, a triangle pattern refers to a chart pattern formed when the price moves within converging trendlines, creating a triangular shape. This pattern indicates a period of consolidation and indecision in the market, as buyers and sellers reach an equilibrium. Typically, this pattern is associated with a temporary pause in the prevailing trend, and it often precedes a significant breakout or breakdown. Shiba Inu Bearish Pennant Formation According to a recent price analysis, this triangular sideways movement for SHIB comes on the heels of a substantial price drop, raising suspicions of a bearish pennant pattern taking shape. A bearish pennant is characterized by a brief consolidation period following a sharp decline in price. During this time, the bearish momentum takes a breather, potentially prolonging the correction trendline. A closer examination of the daily chart reveals a notable rejection from the lower trendline of the pattern. This rejection hints at the possibility of a bullish upswing within the confines of the pattern, suggesting that the SHIB price might be gearing up for a potential reversal. As of the latest data, the current SHIB price stands at $0.00000814 according to CoinGecko, indicating a 2.1% rally over the past 24 hours. In the span of seven days, SHIB has managed to accrue gains of 3.4%. These numbers, against the backdrop of recent market turbulence, hint at a certain level of resilience within the SHIB token. Implications Of Significant Token Movements Ali Martinez, a respected crypto trading chart analyst, has drawn attention to a startling development that could impact SHIB’s trajectory. In a post on X, Martinez noted an extraordinary movement: approximately 2 trillion SHIB tokens were rapidly withdrawn from established crypto exchange wallets within the preceding week. This revelation has set off ripples of speculation and discourse within the digital asset community. The swift movement of such a significant number of tokens raises questions about the potential implications for SHIB’s position within the broader crypto market. As market participants grapple with the ramifications of this withdrawal, it remains to be seen how this bold maneuver might shape SHIB’s future price action and overall market sentiment. With potential bullish signals emerging within this pattern and the intriguing withdrawal of tokens, the coming days could hold decisive clues about SHIB’s direction in a rapidly changing market environment. (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 Adobe Stock

The entire NFT market had its lowest weekly transaction volume in the preceding 2 years. The firm’s unregistered sale of NFTs violated the Securities Act of 1933 as per SEC. The number of people involved in NFT trading has dropped to a level not seen in last two years. In April of 2022, the NFT market had $480,738,395 in volume. However, the weekly volume has decreased to a meagre $10,054,152 as of the end of August 2023. Moreover, in recent weeks there were about 50,000 people actively involved in NFT trading, which may be indicative of a larger trend of waning interest in the NFT market. Also, the entire NFT market had its lowest weekly transaction volume in the preceding two years, at only $73.2 million. For a long time now, the NFT market has been underperforming with prominent NFT collections witnessing record low floor prices. Struggle Continues Now the recent action by the U.S SEC has only made things worse for the already struggling sector. After selling NFTs to investors between October and December 2021, a media and entertainment firm has been accused by the U.S SEC of engaging in unregistered securities transactions. Nearly $30 million was reportedly obtained by Los Angeles-based content creator Impact Theory via the selling of NFTs dubbed Founder’s Keys, which were sold in three levels. Moreover, the corporation allegedly told prospective investors that buying a Founder’s Key was like buying a piece of the company, as per the SEC. Also, according to the Securities and Exchange Commission, the firm’s unregistered sale of NFTs violated the Securities Act of 1933. Impact Theory has consented to a cease-and-desist injunction. Without admitting or contesting the SEC’s allegations, the corporation was compelled to pay over $6.1 million in penalty. In addition, a fund will be established to reimburse those who purchased Founder’s Key NFTs. Highlighted Crypto News Today: A Crypto Exchange & a Russian: Third and Fifth Largest BTC Holders

Shibarium has reached 101,395 wallets on the platform. SHIB has experienced a surge of over 2.26% in the last 24 hours. Shibarium, the layer-2 blockchain for Shiba Inu (SHIB), has reached a significant milestone after its relaunch. Recently, Shibarium has surpassed 100,000 wallets on the platform, with more than 35,000 coming within 24 hours of its relaunch. Moreover, the memecoin Shiba Inu has shown a notable surge. According to Shibariumscan, the Shibarium Blockhain’s explorer, the total wallet addresses on Shibarium have crossed the 100,000 mark. At the time of writing, it had reached 101,395 wallet addresses. Adding to that, the total blocks reached 347,546, with an average block time of 5.0 seconds. Moreover, the total transactions on the blockchain have reached 433,904, with 66K transactions in the last 24 hours. Shibairum is the most anticipated project by the memecoin Shiba Inu. After a long wait, the layer-2 blockchain launched on August 16. Following the initial launch, Shibarium faced technical issues and backlash from the crypto community. Recently, on August 28, Shibarium was relaunched after its initial public release after solving the technical glitches. Shibarium’s Relaunch Boosts SHIB’s Price Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, has released a blog post after the relaunch. He mentioned that the relaunch proved that the funds are always safe. The absence of massive servers for support raised concerns about the stability of Shibarium. However, the relaunch boosted confidence among the crypto community. The relaunch of Shibarium resulted in the platform hitting a remarkable milestone of 100,000 wallets. On the other hand, Shiba Inu has experienced a surge in the last 24 hours following the relaunch of Shibarium. At the time of writing, Shiba Inu is trading at $0.00000816, with a surge of over 2.26% in the last 24 hours. The trading volume of SHIB has experienced an increase of around 51.03%, according to CoinMarketCap. However, the relaunch didn’t impact Shibarium’s governance token. Bone ShibaSwap (BONE) has experienced a decline of over 2.23% in the last 24 hours. At the time of writing, BONE has been trading at $1.28. Do you think BONE will experience a surge? Tweet to us at @The_NewsCrypto and let us know your thoughts.

Polygon’s MATIC token experienced fleeting 24-hour gains that offered a momentary glimmer of hope for its investors. However, this uptick was juxtaposed against lingering weaknesses in the bullish sentiment, prompting questions about the potential for further downside. In the last five days, MATIC embarked on a trajectory marked by a relatively narrow price range, predominantly oscillating between $0.537 and $0.56. This phase of consolidation led to a visible reduction in market volatility, consequentially resulting in a discernible drop in the open interest metric throughout the week. This deceleration in market activity not only hinted at speculators’ ambivalence towards predicting the token’s next trajectory but also suggested that traders might need to exercise caution and patience as the market seeks clearer signals. Analyzing MATIC’s Current Climate Beneath the surface of these price fluctuations and speculative hesitations, a series of interesting developments unfolded. The sentiment prevailing in social discussions around MATIC’s price exhibited a noteworthy shift towards negativity. Insights gleaned from Santiment data revealed a gradual decline in MATIC’s Weighted Sentiment that commenced around August 25, ultimately settling at a current value of -0.37 as of today. Additionally, subtle indicators hinted at underlying accumulation dynamics taking shape. The average coin age exhibited an upward trajectory, indicative of the gradual accumulation of MATIC tokens across the network. Coinciding with this trend, the volume of supply held on exchanges witnessed a decline over the past week, once again underscoring the narrative of token withdrawal and strategic accumulation. MATIC Current Valuation And Outlook Despite the drop in the token’s social sentiment rating, MATIC still registered a 1.5% surge over the past 24 hours, and trading at $0.559, according to crypto market tracker CoinGecko. Over a broader time frame of seven days, the token’s incremental gain stands at a modest 0.6%. Meanwhile, in a timely and pivotal announcement, Polygon’s Co-Founder Sandeep Nailwal unveiled insights into the forthcoming migration of MATIC to a new POL Token. Of notable significance in this update was the assurance extended to users – a seamless transition to POL was promised without the risk of forfeiting rewards earned from ongoing MATIC staking activities. This announcement takes on added significance after months of uncertainty that followed Polygon’s 2.0 tokenomics revelation in July 2023. Nailwal’s transparent communication could potentially inject a dose of confidence into the investor community and stimulate heightened engagement within the network over the ensuing days. While MATIC showcased marginal gains over a 24-hour period, an air of fragility hung over the bullish narrative. The tight price range, waning social sentiment, and intricate indicators called for a measured approach from traders. Nevertheless, the impending shift to POL Token, as detailed by the Polygon’s co-founder, could potentially emerge as a stabilizing influence, rekindling investor trust and invigorating participation within the network. (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 G2 Learning Hub

Robinhood’s single-wallet holdings of over $3 billion make it to the third-largest bitcoin holder. The daily price chart indicates that Bitcoin remains within the bearish zone. In a recent report published by Arkham Intelligence revealed that the popular investing and trading platform Robinhood (HOOD) has amassed a significant bitcoin (BTC) holding amounting to over $3 billion. This substantial sum of Bitcoin, stored in a single wallet, has been accumulated over the course of several months. Robinhood’s bitcoin holdings encompass a staggering 118,300 BTC, which currently have a valuation of approximately $3.08 billion. This vaults Robinhood to the position of the third-largest holder of bitcoin, trailing behind cryptocurrency exchanges Binance and Bitfinex. Binance and Bitfinex currently hold $6.4 billion and $4.3 billion worth of tokens, respectively, in single wallets. Robinhood’s Bitcoin Holding (Source: Arkham) In addition, the recent data discloses that the fifth largest Bitcoin wallet is connected to Russian billionaire Yevgeny Prigozhin, while the fourth largest wallet remains undisclosed. Further, Robinhood’s significant bitcoin holdings have sparked market speculation, from linking them to BlackRock’s Bitcoin ETF interest to considering possible moves by Gemini involving user holdings. Despite its notable holdings, Robinhood’s Q2 crypto trading revenue fell to $31 million, marking an 18% drop from the previous quarter’s $38 million, as per the latest earnings report. Analyzing Bitcoin’s (BTC) Recent Price Trends According to CoinMarketCap, Bitcoin exhibited a price of $26,040, marking a slight increase of 0.27% over the past 24 hours. The largest cryptocurrency’s daily trading volume stood at $10.8 billion, witnessing a 38% surge within the span of a day. Notably, Bitcoin’s price track had undergone a decline on August 17, plummeting to the $27K range. After this drop, Bitcoin has fluctuated within the range of $27,000 to $25,600. The daily price chart highlights Bitcoin’s continued confinement within bearish territory. The current price is situated below the 50-day exponential moving average (EMA), indicating a challenging phase for Bitcoin. Further, the daily relative strength index (RSI) stands at 26.54, signaling that the cryptocurrency is positioned near the edge of the oversold zone. Bitcoin (BTC) Price Chart (Source: TradingView) Over the past week, Bitcoin’s trading range has swung between $26K and $25.5K. However, if the current trend reverses, BTC will experience a bullish rally toward resistance levels of $27,453 and $28,718. Conversely, there remains the possibility of Bitcoin undergoing further downward movement. If such a scenario unfolds, the BTC price could breach the support level of $25,174. Even the bears could exert enough pressure to drive the price below $24,947. What are your thoughts on the impact of Robinhood’s significant $3 billion bitcoin holdings on the cryptocurrency market in the coming months? Tweet to us at @The_NewsCrypto and let us know your thoughts.

In a recent tweet, Luke Mikic, a renowned podcaster and YouTuber, highlighted the distinct differences between the upcoming 2025 Bitcoin bull market and its predecessors in 2017 and 2021. Drawing from his insights and the data available, here’s a deep dive into the three reasons that set the 2025 bull market apart: 1. The Hash Rate Race: Nation States Enter the Fray “The Bitcoin hash rate is going absolutely parabolic, smashing through 400TH/s & another ATH!” Mikic exclaimed. Indeed, the Bitcoin network hash rate recently achieved a record-breaking 414 EH/s, marking an 80% surge over the last 12 months. This growth is particularly astonishing given the energy challenges in Texas and the escalating global electricity costs. Mikic points out, “This is the 1st bear market where the hash rate is hitting new ATHs… Is this time different?” The answer seems to be a resounding yes. Nation states are now publicly (and maybe privately) mining Bitcoin. El Salvador and Bhutan were the pioneers, and recently, Oman joined the league. Oman’s strategic move to mine Bitcoin aims to diversify its economy from oil dependence and bolster renewable energy initiatives, including flare gas mitigation. Remarkably, it is yet unknown if not more countries are already mining BTC in stealth mode without official announcement. 2. Supply Suffocation Historically, bear markets have seen an influx of Bitcoin on exchanges. However, the current scenario paints a different picture. Mikic notes, “In every prior Bitcoin bear market we’ve seen an increase in the number of coins on exchanges. 2015 – Increase of 800K coins, 2018- Increase of 900K coins, 2022- DECREASE of 1 million since March 2020.” According to data from Santiment, a mere 5.8% of Bitcoin is now on exchanges, the lowest since December 17, 2017. Furthermore, Bitcoin’s Exchange Depositing Transactions (SMA 7-day) plummeted to a 5-year low, reaching 30,798 BTC per day, a figure reminiscent of December 11, 2016. On-chain analyst Axel Adler Jr.’s takeaway? “People do not want to sell BTC. The supply deficit will continue to stimulate growth.” 3. The Great Wall Street Accumulation The BlackRock Bitcoin spot ETF application stands as a watershed moment in Bitcoin’s journey towards mainstream adoption. Mikic emphasizes, “The Blackrock Bitcoin ETF application will be remembered as a pivotal moment for Bitcoin’s future mainstream adoption. TRILLIONS of capital has now been given the green light to invest in Bitcoin.” As the world’s largest asset manager, BlackRock’s entry could bestow unparalleled legitimacy upon the Bitcoin market. BlackRock will probably advertise Bitcoin and its new product in a big way, bringing new retail and institutional investors into BTC. Looking at the current price stagnation in Bitcoin, it should be noted that there are no new inflows at the moment, as evidenced by the decreasing amount of stablecoins in the ecosystem. In the midst of the longest of all bear markets, there is simply no reason for retailers to get back in at the moment. However, an event like the approval of a Bitcoin spot ETF can change this abruptly and be the trigger for a Bitcoin bull run (even before halving). In conclusion, the 2025 Bitcoin bull market is poised to be unlike any other. With nation states joining the mining race, a palpable supply shock, and Wall Street giants like BlackRock showing interest, Mikic’s final words resonate strongly: “Takeaway: NOBODY is bullish enough.” At press time, BTC traded at $26,058.

BNB price (Binance coin) is moving higher from $202 against the US Dollar. The price could rise further toward the $230 resistance or even $235. Binance coin price is slowly moving higher from the $202 zone against the US Dollar. The price is now trading below $225 and the 100 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near $224 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum above $224 and $225. Binance Coin Price Eyes More Upsides After a major decline, BNB price found support near the $202 zone. The price traded as low as $203.5 and recently started a recovery wave, similar to Bitcoin and Ethereum. There was a move above the $212 and $215 resistance levels. The price climbed above the 23.6% Fib retracement level of the main decline from the $248 swing high to the $203 low. However, the bears are now defending the $220 resistance zone. BNB price is still trading below $225 and the 100 simple moving average (4 hours). There is also a connecting bearish trend line forming with resistance near $224 on the 4-hour chart of the BNB/USD pair. On the upside, it is facing resistance near the trend line and $225. The trend line is close to the 50% Fib retracement level of the main decline from the $248 swing high to the $203 low. A clear move above the $225 zone could send the price further higher. Source: BNBUSD on TradingView.com The next major resistance is near $230, above which the price might rise toward $235. A close above the $235 resistance might increase the chances of a push above the $250 resistance. Another Decline in BNB? If BNB fails to clear the $225 resistance, it could start another decline. Initial support on the downside is near the $214 level. The next major support is near the $212 level. If there is a downside break below the $212 support, the price could drop toward the $202 support. Any more losses could send the price toward the $200 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $214, $212, and $202. Major Resistance Levels – $225, $230, and $235.

Bitcoin price is attempting an upside break above the $26,200 resistance. BTC must clear $26,200 and $26,500 to start a decent recovery wave. Bitcoin is still struggling to clear the $26,500 resistance zone. The price is trading above $26,000 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase if it clears $26,200 and $26,500. Bitcoin Price Faces Hurdles Bitcoin price started a short-term upward move from the $25,720 zone. BTC was able to climb above the $26,000 resistance zone but it is still facing a lot of hurdles. During the recent increase, it broke the 23.6% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low. Besides, there was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $26,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $26,175 and $26,200 levels. A clear move above the $26,200 level might send the price toward the key resistance at $26,500. Intermediate resistance is near the 61.8% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low at $26,400. Source: BTCUSD on TradingView.com To start a decent increase, the price must settle above $26,500. In the stated case, the price could test the $27,000 level. Any more gains might set the pace for a larger increase toward $28,200. Fresh Decline In BTC? If Bitcoin fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,900 level. The next major support is near the $25,800 level. A downside break below the $25,800 level might push the price further lower. In the stated case, the price could drop toward $25,400. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $25,800, followed by $25,400. Major Resistance Levels – $26,200, $26,500, and $27,000.

Ethereum price is attempting a recovery wave above $1,650 against the US Dollar. ETH must clear $1,660 and $1,700 to start a steady increase. Ethereum is struggling to rise above the $1,660 and $1,670 levels. The price is trading near $1,650 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it clears $1,660 and then $1,700. Ethereum Price Lacks Momentum Ethereum’s price managed to settle above the $1,640 level. It seems like ETH is attempting a recovery wave above the $1,650 resistance zone, like Bitcoin. Recently, there was a break above a connecting bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD. However, the bulls are facing resistance near $1,660 or the 50% Fib retracement level of the downward move from the $1,698 swing high to the $1,621 low. Ether is now trading near $1,650 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,660 level. The next resistance is near the $1,670 level or the 61.8% Fib retracement level of the downward move from the $1,698 swing high to the $1,621 low. Source: ETHUSD on TradingView.com A close above the $1,670 level might send the price toward the $1,700 pivot zone. To start a decent increase, Ethereum must settle above the $1,700 level. In the stated case, the price might rise toward the $1,780 level. Any more gains might send the price toward the $1,850 resistance. Another Decline in ETH? If Ethereum fails to clear the $1,660 resistance, it could start another decline. Initial support on the downside is near the $1,640 level. The next key support is close to $1,620. If there is a downside break below $1,620, the price could accelerate lower toward the $1,5800 level. Any more losses might send the price toward the $1,540 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,640 Major Resistance Level – $1,660

SINGAPORE–(BUSINESS WIRE)–OrBit Markets, the leading institutional liquidity provider in digital asset options and structured products, announced today that it has received the 2023 Google Cloud Customer Award for Financial Services Industry. Building a digital asset derivatives trading business requires cutting-edge technology combined with stringent security requirements. Exchange market-making generates massive volumes of trading data that are then processed using machine learning techniques in order to continuously refine liquidity provision algorithms. Managing the risk of innovative and bespoke financial products is also very computationally intensive, involving billions of simulations to be run throughout the day. Finally, institutional counterparties rightly expect the highest standards of data privacy, security and reliability. This Google Cloud Award highlights OrBit’s success in leveraging Google Cloud’s powerful storage solutions, serverless architecture and access management systems in order to offer digital asset derivatives liquidity solutions in full compliance with regulatory expectations. “The Google Cloud Customer Awards are an opportunity to recognize the most innovative, technically advanced, and transformative cloud deployments across industries, from around the globe, built on our platform,” said Brian Hall, VP of Product and Industry Marketing at Google Cloud. “I want to congratulate OrBit Markets on achieving this award and serving as an innovator for the industry.” “Over the past year, our business has experienced tremendous growth, with our trading volumes increasing by several orders of magnitude,” said Tianjiao Sun, CTO of OrBit Markets. “Our collaboration with Google Cloud has been instrumental in the successful scaling of our infrastructure, allowing us to serve the evolving demands of our clients in rapidly changing market conditions.” About OrBit Markets: OrBit Markets is the leading institutional liquidity provider of digital asset options and structured derivatives. Founded by a team of former executives in finance and technology, OrBit combines its expert know-how in financial derivatives with the latest blockchain technology. With a mission to develop innovative investment and hedging solutions for digital assets, OrBit Markets offers a wide range of products, including vanilla options, exotic options, and structured derivatives across major and alternative cryptocurrencies. Its services encompass structuring, trading, and market making. For more information, visit orbitmarkets.io. Contacts Media Contact for OrBit: Zhiming Yang [email protected]

Bitcoin (BTC), the leading cryptocurrency in the market, has experienced a significant decline since mid-August, resulting in a stagnant price within a newly formed range. This decline has occurred amidst what many believe is an extended bear market in cryptocurrency, causing concerns about the future of Bitcoin’s bull cycles. Bloomberg Intelligence’s Senior Macro Strategist, Mike McGlone, has drawn attention to the current similarities between BTC’s trajectory and the infamous crash of Amazon in the 2000s during the “Dot Com Bubble.” McGlone’s analysis emphasizes the importance of learning from history and highlights the potential risks if retail investors flood the market, causing Bitcoin to become overbought. Bitcoin Resemblance To Amazon’s Crash Bitcoin’s remarkable growth potential is exemplified by its journey from trading at $1 in 2011 to its current value, representing a surge of 26,000 times. In comparison, Amazon, a prominent tech giant, achieved a 130-fold increase over a similar period, but it took approximately 25 years. To further illustrate the parallels between Amazon and Bitcoin, during the dot-com boom in the 90s and early 2000s, Amazon capitalized on customer growth and adept capital fundraising to expand its product offerings. Starting as an online bookstore, it rapidly evolved into a vast online retailer, connecting customers with a diverse range of products. Amazon’s valuation soared during this period, reaching over 50 times its Initial Public Offering (IPO) value in December 1999. However, the exuberance in the market was short-lived. The “Dot-Com Bubble” bursting led to a sharp decline in the Nasdaq Composite, heavily influenced by technology companies, from its peak in March 2000. As the “Dot-Com” crash unfolded, numerous companies struggled to sustain their business models or secure sufficient funding, resulting in their closure. Even prominent start-ups like Pets.com and Kozmo, in which Amazon had invested, succumbed to the downturn. As a result, Amazon’s stock experienced a significant decline, losing more than 90 percent of its value over two years. The lessons learned from Amazon’s rise and subsequent crash serve as a cautionary tale for Bitcoin. McGlone warns that the entry of retail investors into the market increases the risk of overbuying and market saturation. When an asset becomes excessively hyped, prices can detach from their underlying value, setting the stage for a potential correction. Retail investors, driven by Fear of Missing Out (FOMO), may overlook fundamentals and blindly chase price momentum, further exacerbating the risk of a downturn. Furthermore, the expert noted that Bitcoin’s increasing correlation with equity prices raises concerns. The current high correlation between Bitcoin and equities indicates a growing interdependence between the cryptocurrency and traditional markets. As Bitcoin moves into the mainstream rapidly, it becomes more susceptible to broader market forces. This amplified correlation could magnify the impact on Bitcoin’s price in a market downturn. Despite Bitcoin’s current value of $26,000, McGlone warns of the possibility of a drop to $10,000, which could have significant consequences. It could trigger a shift in market sentiment and result in significant losses for latecomers who entered the market during this year’s peak. Bitcoin (BTC) is trading at $26,000, reflecting a marginal decrease of 0.3% over the past 24 hours and the seven-day time frame. Featured image from iStock, chart from TradingView.com

Ethereum founder Vitalik Buterin has multiple public wallets that carry a significant amount of ETH and these wallets are religiously tracked by on-chain sleuths. This is why whenever the founder makes a withdrawal, the destination of the ETH being sent is closely followed and recent reports reveal that Buterin has been sending significant amounts of ETH out to different wallets. Two Vitalik Buterin Transactions Spark Speculations In the early hours of Monday, the on-chain data tracking platform PeckShieldAlert took to X (formerly Twitter) to share some interesting movements that have been taking place in wallets said to belong to Buterin. This time around, the tracker flagged a single transaction carrying 3,000 ETH. The 3,000 ETH, worth roughly $4.95 million at the time of the transfer was sent out from the well-known Vitalik.eth wallet to another wallet identified publicly as Vb2. This brought the latter’s balance to 3,017 ETH, worth a little over $4.95 million. The speculations of whether the Ethereum founder is offloading some of his stash come in relation to an earlier transaction made by him. The transaction which was also reported by PeckShield alert showed that Buterin had sent 600 ETH worth around $1 million at the time to the Coinbase crypto exchange. For many, however, this transaction was insignificant in the grand scheme of things and did not lead to a cause for alarm. The most recent transaction also follows in the same vein since it looks like the billionaire founder is just redistributing his assets to other wallets. Is This Why ETH’s Price Is Struggling? So far, there is no indication that Buterin’s wallet movements have anything to do with the ETH price decline. As already mentioned above, the ETH liquidity is too deep for a $1 million sell to trigger such a decline, which would suggest something else is behind the coin’s struggles. The most obvious factor is that the broader crypto market has been taking a hit and ETH has not been left out. Bitcoin fell from $28,000 to below $26,000, taking the majority of the market down with it. As a result, investor sentiment swung far into the negative which is preventing new money from coming into the market. With the bear market waxing strong, there could be more decline to come for the digital asset until investor sentiment improves and the market starts to recover once more. For now, ETH is still ranging above $1,640 as bears and bulls are locked in a tug-of-war for control.

Bitcoin miners are churning less in revenue, looking at trackers on August 28. According to Hashrate Index data, a platform that tracks the correlation between hash rate and revenue accrued by miners over time, income generated from Bitcoin mining operations is at near record lows. Bitcoin Miner Revenue Declining At $0.059 per Tera Hash (TH) daily, the trend doesn’t look exciting for Bitcoin miners as it is cents away from $0.056, a level recorded in late November 2022. At the depth of last year’s crypto winter when prices fell, cracking below $16,000, hash price, which measures the potential revenue expected from deploying 1 Tera Hash of hash rate to the Bitcoin network per day, crumbled to the lowest point in three years. While BTC supporters are optimistic, expecting prices to recover in the second half of 2023, miners must contend with lower revenue. How this impacts their operations is yet to be seen because miners depend on income generated from deploying hash rate to cater for operational expenses and sometimes pay shareholders. On May 8, the hash price rose to $0.095, the highest level in 2023, but has since contracted, dropping by over 40%. As the hash price falls, it could mean miners are having a hard time competing. The trend, as it is visible, comes when the hash rate has been rising to record levels as more miners power up their mining rigs. Throughout 2023, the total Bitcoin hash rate, a metric measuring the computing power channeled to the network, rose from 269 EH/s in early January 2023 to 465 EH/s in early July 2023. The hash rate has since dropped around 329 EH/s, a level that’s still higher than 2022 highs. More Rigs, Higher Hash Rate With a rising hash rate, the Bitcoin network automatically adjusted the mining difficulty to the highest level last week. Trackers show the network’s difficulty is now at 55.62 T, following a 6% increment. For the better part of the year, difficulty levels have been rising amid an increase in hash rate. As prices recovered in January and the hash rate rose, the network increased difficulty levels by 10%, the highest spike this year. Hash rate will likely continue rising in the months ahead. Tether Energy, an affiliate of Tether Holdings, issues USDT, plans to connect their rigs in Latin America. Their launch translates to more competition for existing miners, including Riot Blockchain.