Zug, Switzerland, October 25th, 2023, Chainwire Today, The Open Network Foundation (TON Foundation) has announced a strategic alliance with Mantle Network, a leading Ethereum Virtual Machine (EVM) Layer 2 solutions provider. This agreement positions Mantle Network as a principal ally to TON Foundation towards more interoperable EVM-compatible Layer 2 blockchain capabilities on TON. A wrapped version of $MNT, $jMNT, is now accessible for trading and liquidity provisions on STON.fi, a cross-chain decentralized exchange (DEX). This wrapped token allows for easier interactions and integrations between Mantle and TON. $jMNT also streamlines access for fluid and expansive trading capabilities between networks. This comprehensive agreement goes beyond token integration as the two entities will utilize the @community_bot, a Telegram-native toolset for communities, to serve as an education and information distribution platform. This initiative will connect users in Mantle’s Telegram channels and Mantle Ecosystem project channels directly to TON’s thriving community on Telegram. By fostering mutual information exchange and enhanced community interactions, both communities will benefit while building a Web3 ecosystem in Telegram for the messaging platform’s 800+ million monthly active users. About TON Foundation The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. TON Foundation is 100% funded by the community, acting in the community’s interests, and supports initiatives aligned with The Open Network’s mission. Learn more at https://ton.foundation. About The Open Network (TON) The Open Network (TON) is putting crypto in every pocket. By building a Web3 ecosystem in Telegram Messenger, TON is giving billions the opportunity to own their digital identity, data, and assets. See more at https://ton.org/. About Mantle Mantle Ecosystem comprises an Ethereum layer 2 (L2) — Mantle Network, a decentralized autonomous organization (DAO) — Mantle Governance, one of the largest on-chain treasuries — Mantle Treasury, and an upcoming Ether (ETH) liquid staking product — Mantle LSD: all built on Ethereum. Mantle token is the unified product and governance token of the ecosystem. Mantle’s first core product is Mantle Network, an Ethereum L2. Mantle Network strives to be compatible with the Ethereum Virtual Machine. Mantle Network’s modular architecture separates transaction execution, data availability, and transaction finality into modules — which can be individually upgraded and adopt the latest innovations. Mantle Network is the first L2 to partner with ETH restaking protocol EigenLayer for the data availability module. By adopting a rollup architecture, Mantle Network is secured by Ethereum. As the world’s first DAO-spawned L2, Mantle Network is pioneering a vision for the mass adoption of token-governed technologies. Mantle token ($MNT) powers Mantle Network as its native gas token and ecosystem growth token, and serves as the governance token of Mantle Governance. All future Mantle products will likewise be initiated by the Mantle token holder community through vote and powered by Mantle token. To support the next generation of innovators, builders, and developers, Mantle is growing its ecosystem via Mantle Grants Program and Mantle EcoFund, a catalyzed capital pool of $200M. For more information, please visit Website | X/Twitter | Devs X/Twitter | Discord | Telegram | YouTube | Blog | GitHub Contact TON Foundation [email protected]

DeFi faces higher risks and lower yields, with a 15% TVL drop. A total of $685,510,444 was lost during the third quarter of 2023. While crypto enthusiasts are currently rejoicing in the market’s upward momentum, there are still individuals who haven’t moved on from the challenges of Q3 2023. The quarters of July, August, and September of 2023 marked a bear-driven phase with staggering losses across the Web3 ecosystem. In total, $685,510,444 was lost during Q3 2023, with $662,850,580 falling victim to hacks in 49 specific incidents and $22,659,864 lost to fraud across 27 specific incidents. DeFi in particular, proved to be highly susceptible to scams, rug pulls, and hacks during the tumultuous quarter. DeFi accounted for 72.9% of the total losses, leaving CeFi with just 27.1%. Q3 2023: A Risky Space? Q3 2023 witnessed a surge in the number of attacks, with the number of single incidents increasing by a staggering 153% compared to the previous year, jumping from 30 to 76. The total losses also saw a significant uptick, soaring by 59.9% compared to Q3 2022. It reached the substantial figure of $685,510,444. Consequently, Q3 2023 stands out as the quarter with the highest losses throughout the year. Ethereum blockchain, once again, surpassed BNB Chain and claimed the title of the most targeted chain. Since its launch in early August, the Coinbase-backed Base protocol has experienced losses across four projects, sharing the spotlight with Ethereum. And BNB Chain, according to Immunefi, Web3’s leading bug bounty platform report. Immunefi Q3 Report DeFi Dilemma The prevalence of hacks and rug pulls in the DeFi space has become increasingly common in the Q3. Furthermore, DeFi has been adversely affected by a reduction in volume, leverage, and liquidity mining programs, resulting in users experiencing lower yields on their assets. Research indicates that the diminished rewards and heightened risks have rendered DeFi less appealing at this juncture, leading to a notable 15% decline in Total Value Locked (TVL), plummeting from $45.5 billion to $35.5 billion. DeFi’s total volume currently stands at $5.64 billion, accounting for 8.23% of the entire cryptocurrency market’s 24-hour trading volume. In the midst of these challenges, a comparative analysis of losses incurred by CeFi and DeFi between Q3 2022 and Q3 2023 underscores the extent of the issue. DeFi reports losses have surged by 18.1% in comparison to the previous period. While CeFi losses have skyrocketed by 3,409% during the same timeframe. Despite these hurdles, the anticipated updates to DeFi protocols and the developer activity rate, which has reached its highest level since November 2021, remain conspicuously absent. Monthly Developers Chart, Source : Electric Capital Top Scams A significant portion of the losses in Q3 was attributed to two specific projects, Mixin Network and Multichain, which collectively accounted for $326,000,000, or 47.5% of Q3 losses. In a notable incident, on September 23rd, 2023, the decentralized Mixin network was breached. It resulted in cybercriminals making off with $200 million-worth of digital tokens. Multichain experienced its own hack on July 7th, 2023, involving the withdrawal of an estimated $126 million in assets. It affects tokens like DAI, Link, USDC, WBTC, and wETH. What Lies Ahead? The crypto community remains optimistic that the market won’t face challenges as severe as those in Q3 2023. With the current upward momentum and bullish hopes circulating around Bitcoin ETF approval. And the nearing Bitcoin halving, the future appears hopeful for the crypto space. Are you optimistic about the Q4 market situation? Share us your thought by tweeting us @The_NewsCrypto

WTT Champions Frankfurt 2023 will take place from October 29 to November 5, 2023. At the time of writing, FLOKI is up $40.01% in the last 7 days as per CoinMarketCap. World Table Tennis (WTT), the premier table tennis organization, and FLOKI have entered into a strategic marketing collaboration for the WTT Champions Frankfurt 2023. Through this collaboration, FLOKI and its upcoming sister token, which will debut on October 27, 2023, will be able to advertise to a projected 120 million viewers on television across 189 nations worldwide, yielding a media value of over $10 million. Details about FLOKI’s new sister token will be made public on October 26, 2023 at 12 p.m. UTC in the Valhalla metaverse. There, it will reveal the new token’s ticker symbol, contract address, and initial market capitalization. Since no other cryptocurrency has ever signed a marketing deal with the top table tennis organization before, this makes FLOKI and its soon-to-be-launched sibling token exceptional. FLOKI and WTT made history earlier this year when they announced their cryptocurrency cooperation. Banking on Extensive Reach Out Through the WTT association, FLOKI ecosystem tokens will be introduced to an enormous, previously unreachable TV and digital spectators during the WTT Champions Frankfurt 2023, which will take place from October 29, 2023 to November 5, 2023 at the Süwag Energie Arena in Frankfurt, Germany. Match table LED displays, table side A-boards, brand mark placement on the WTT website, worldwide press releases, and social media updates on all WTT social platforms will all play a role in this. Moreover, through WTT’s global reach, this groundbreaking partnership opens up new promotional opportunities for FLOKI ecosystem tokens, and the cryptocurrency sector as a whole. The FLOKI community responded positively to the latest update, and the price has witnessed a significant surge. At the time of writing, FLOKI is up $40.01% in the last 7 days and is trading at $0.00002473 as per data from CoinMarketCap. Highlighted Crypto News Today: Cathie Wood Led Ark Invest Sells Grayscale Bitcoin Trust (GBTC) Shares

Imagine hooking your globally accepted Visa or Mastercard to your non-custodial crypto wallet – giving you sole control over your money, and being able to use it at any existing point-of-sale, ATM, cash register, e-commerce and more. Meet NAKA. NAKA made its grand entrance onto the world stage with the unveiling of its groundbreaking blockchain-based payment system and EMV-compatible NAKA card. CEO Dejan Roljic announced this exciting development during his closing speech at the Plan B Forum in Lugano, Switzerland. This moment represents a significant milestone in the history of payments, as it marks the first public demonstration of an EMV-compatible blockchain-based payment scheme and its corresponding self-custodial payment card, fully aligned with industry standards. Already operational in Switzerland, the NAKA scheme and NAKA card have garnered support from over 300 stores in Lugano. This pioneering solution is soon to be available in El Salvador and Slovenia. For more information about NAKA, visit the official NAKA website. How Does the NAKA Scheme Differ from Visa or Mastercard? The NAKA scheme is a payment network built on blockchain technology, yet it seamlessly aligns with the EMV (Europay, Visa, Mastercard) standard, ensuring compatibility with conventional payment infrastructures worldwide. This innovation facilitates the integration of blockchain payments into existing payment systems, offering a clear path toward global cryptocurrency adoption. NAKA payment transactions and settlements are executed via smart contracts on the Polygon network. This process is user-friendly, rapid, and cost-effective compared to traditional payment transactions. What sets NAKA apart is its self-custody feature, granting NAKA cardholders full ownership of their funds without the need for intermediaries when managing their assets. Dejan Roljic on Financial Inclusion NAKA’s CEO Dejan Roljic delivered an impassioned speech addressing the dire issue of financial exclusion, particularly among the unbanked population. He shared his vision of NAKA as a pathway to economic freedom, leaving the audience deeply moved. “Being unbanked doesn’t just mean not having a payment card. It means not having an option to ever get a fair salary or having a credit score. It means you will never obtain a loan. Having your own apartment is just a dream, but worst of all, you can never get old. There is no pension for people who didn’t receive their money via a bank account and paid taxes. Once you are old and living unbanked, you need to ensure you don’t get sick. If you get sick, you can’t work; if you don’t work, you can’t buy food, pay rent, or buy medicine.” – Dejan Roljic, CEO of NAKA Dejan’s message to the blockchain-savvy crowd was clear: NAKA is on a mission to effect positive change in society, and all who share this vision and passion are welcome to join the journey toward economic freedom for all. The speech extended into a panel discussion, moderated by Joe Nakamoto, where Dejan Roljic, Paolo Ardoino (CEO of Tether Foundation), and Luis Pinedo (Head of Product at Bitfinex Pay) discussed how NAKA, Tether, and Bitfinex are driving cryptocurrency adoption in Switzerland, the European financial hub, and emerging markets such as El Salvador. First NAKA Cardholders at Plan B Forum The NAKA team hosted an impressive showroom experience at the elegant Villa Ciani in Lugano during the Plan B Forum event. Visitors had the opportunity to shop in the NAKA shopping corner and witness NAKA card transactions in real time. A select few were even granted exclusive NAKA cards pre-loaded with USDt, accepted across the venue and throughout the City of Lugano. Additionally, the NAKA team engaged in partnership discussions with various payment facilitators. NAKA has distinct partnership programs for Issuers, Acquirers, and Independent Sales Organizations, fostering a network of partners to expand the reach of the NAKA solution to new markets. If you are interested in becoming a NAKA cardholder, please join the waitlist. For partnership opportunities, kindly contact us through the Partnership form on our website. About NAKA NAKA is a FinTech company developing a comprehensive suite of financial products and services, including a dedicated self-custody payment card, a blockchain payment scheme, and a holistic point-of-sale payment solution, offering a complete payment ecosystem. Built on the foundation of GoCrypto’s success story, NAKA’s blockchain-powered financial ecosystem bridges traditional and decentralized finance, committed to decentralizing finances and achieving financial inclusion for all. Its vision is to pioneer decentralized technology solutions that empower individuals, transcending boundaries to provide universal access to financial freedom for everyone. Contact: Nuša Sterniša – PR Manager at NAKA Email: [email protected] 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.

Amid the bullish sentiment in the crypto market, Shiba Inu (SHIB) has recently garnered significant attention from traders and investors. A recent analysis by renowned crypto analyst Ali Martinez has spotlighted a rare buy signal for the token, potentially hinting at an upward trajectory for its price. Buy Shiba Inu Now? For those not familiar, the TD Sequential is an indicator used by traders to identify potential price patterns and reversals. Developed by Tom DeMark, the TD Sequential is a series of numbers and letters that represent specific counts on a price chart. When the count reaches a ‘9’ (TD9), it typically suggests a potential reversal in the market’s current trend, whether bullish or bearish. Its utility in predicting market turns has made it a staple in many traders’ toolkits, especially in the realm of cryptocurrencies. Ali Martinez, in a recent tweet, pointed out that the TD Sequential has flashed a buy signal on the Shiba Inu’s weekly chart. Such an occurrence isn’t just significant due to the potential for a bullish turn but also because of the infrequency of these signals. Historical data analysis reveals that in the last two instances when such a buy signal manifested, the SHIB price surged by 118% and 71%, respectively. These past performances, while no guarantee of future results, do provide a tantalizing backdrop to the current scenario. Martinez stated: The TradingView chart, shared by Martinez, outlines the SHIB/TetherUS (USDT) Perpetual Contract on the Binance platform. It shows that back in June 2022, Shiba Inu recorded an impressive surge of approximately 117.80% within eight weeks. This rally was preceded by a ‘9’ candlestick on the TD Sequential indicator, hinting at the buy setup. In late September 2023, another TD Sequential ‘9’ buy signal emerged, resulting in a 71.17% ascent in SHIB’s value within the subsequent nine weeks. As of October 25, 2023, yet another ‘9’ buy setup has manifested on the weekly time frame. Given the token’s historical reaction to these setups, a bullish move seems likely. However, while the TD Sequential is a respected tool, it’s worth noting that all indicators should be used in conjunction with other tools and analysis methods. The volatile nature of the crypto market means that predictions, even when based on historically successful indicators, come with inherent risks. A Consistent Signal At press time, the Shiba Inu price was trading at $0.00000732 and has thus managed to recapture the neckline of the descending triangle in the weekly chart. As detailed in earlier analysis, SHIB was in a make-or-break moment in the last two weeks. However, since SHIB was able to bounce above the neckline, the bullish scenario has now come to the fore. As was the case from June to early August 2022 after the formation of the third bottom (yellow circle), SHIB could now rally again towards the descending trend line of the triangle as a result of the fourth bottom (second yellow circle). Thus, the TD9 signal and this technical pattern coincide. As then, however, a new decisive moment would come for the Shiba Inu price – the battle to break out of a more than 2-year downtrend.

Pro-XRP legal expert Fred Rispoli has shared some expectations following Judge Analisa Torres’ order, where she officially dismissed the US Securities and Exchange Commission’s (SEC) claims against Ripple’s executives Brad Garlinghouse and Chris Larsen. SEC Can Still Bring Claims Against Ripple’s Executives In a post shared on his X (formerly Twitter) platform, Rispoli noted that the SEC could still file another lawsuit against Garlinghouse and Larsen if they were to appeal Judge Torres’ ruling on the programmatic sales and other distributions and get a judgment in their favor. His assumption is based on the fact that the Judge’s latest order showed that the SEC only dismissed the claims against them with respect to the institutional sales, as the Commission had alleged that both Garlinghouse and Larsen aided and abetted Ripple Labs in violating securities laws with respect to the crypto company’s offers and sales of XRP. However, he stated that any action would only be restricted to the programmatic sales and other distributions since the dismissal with respect to the institutional sales was with prejudice, meaning a claim cannot be brought again regarding that particular matter. In July, Judge Torres also ruled that the institutional sales were investment contracts, which amounted to them being securities. In line with this, the SEC and Ripple will move to settle on the latter’s violation of securities laws, with the firm expected to pay a particular amount as a fine for its violation of the act. Will The SEC Appeal Judge’s XRP Decision? As to whether the SEC will appeal Judge Torres’ ruling on the programmatic sales and other distributions, Rispoli seemed to suggest that that was unlikely as the SEC was more focused on crunching the numbers (probably the monies Ripple will pay as fine) and “wrap this one up for good.” In a subsequent post, he also mentioned that there was the possibility that they received assurances from the SEC to not file an appeal as one would expect that Garlinghouse and Larsen’s “high-powered attorneys” would have asked that the SEC dismissed all the claims, including the ones relating to the programmatic sales and other distributions. Interestingly, Rispoli had once predicted the likely outcome of this case as he had stated that the SEC was unlikely to drag Ripple’s executives through a trial and that they had only brought forward the claims against them in order to force Ripple into a “weak settlement position.” The SEC is also unlikely to appeal, going by pro-XRP legal expert John Deaton’s comments when he suggested that the ETH Gate saga may have forced the SEC into what Ripple’s Chief Legal Officer Stuart Alderoty has described as a “surrender.”

In the past few days, XRP has achieved a significant breakthrough of notable resistance levels, offering a hint of impending substantial price movements. This development has been closely watched by the cryptocurrency community, who have observed a notable degree of volatility in XRP’s price dynamics in recent times. The cryptocurrency’s ability to surmount these substantial resistance barriers signals a possible shift in market dynamics and has generated considerable interest among traders and investors. XRP’s Legal Victory Sets The Stage For A Promising Future Ripple’s native token, XRP, has emerged as a standout performer in the cryptocurrency space following a significant legal victory against the US Securities and Exchange Commission in mid-July. At that pivotal moment, a federal judge ruled that Ripple’s structured XRP sales did not fall under the classification of investment contracts. Since this ruling effectively established that XRP’s status as a digital asset was distinct from being deemed a security, it delivered a much-needed boost of confidence to the cryptocurrency and blockchain communities. It was a watershed moment for Ripple and its digital currency, highlighting the company’s potential for growth inside the industry’s shifting legal structure. The verdict in this case has rekindled hope and set XRP’s future on a promising course. At the time of writing, XRP was trading at $0.55, up 1.6% in the last 24 hours and registering a decent 13% increase in the last seven days, data from crypto market tracker Coingecko shows. In the context of the cryptocurrency market, where trends can change rapidly, the observation that XRP has not only crossed but exceeded both the 200-day and 50-day Exponential Moving Averages carries considerable weight. EMAs are widely recognized as crucial technical tools, serving as essential guides for traders and analysts to evaluate an asset’s price movement over specific timescales. XRP’s Price Action And Key Resistance When XRP’s price action consistently rises above these key EMAs, it is taken as a bullish sign that the cryptocurrency may be headed for new highs. Given the current climate of the cryptocurrency market, where rising prices tend to coincide with rising confidence and investor interest, this event takes on greater significance. The altcoin has exhibited a commendable weekly performance, thereby approaching a critical level of $0.56. This particular price point has consistently served as a resistance level since the middle of August. The Relative Strength Index (RSI) indicates a prolonged bullish trend as it remains above the neutral line at 50.0. This suggests the possibility of a breakthrough at the price level of $0.54, maybe resulting in an upward movement of the XRP price towards $0.60. Meanwhile, the euphoric feeling surrounding Bitcoin’s ascent to $35,000, which frequently serves as a benchmark for the rest of the crypto market, can be partially ascribed to the present momentum being enjoyed by XRP. Is this the commencement of a larger narrative? (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 Protos

Galaxy Digital, a leading player in the digital assets sphere, has issued a bullish prediction for Bitcoin’s trajectory following the launch of the much-anticipated US-regulated spot Bitcoin ETF. According to a recent study published by the firm on October 24, the introduction of the ETF is set to considerably bolster Bitcoin’s adoption, positioning it more firmly as a recognized asset class. Advantages Of An ETF Galaxy’s analysis highlights that a spot Bitcoin ETF would be “one of the most impactful catalysts for the adoption of Bitcoin (and crypto as an asset class).” By the end of September, Bitcoin assets held across diverse investment products like ETPs and closed-end funds touched an impressive figure of 842,000 BTC, valuing approximately $21.7 billion. Galaxy Digital’s study also sheds light on the challenges faced by these investment avenues, pointing to factors like high fees, tracking errors, limited liquidity, and a somewhat constrained reach amongst broader investor groups. The introduction of the spot Bitcoin ETF, the report suggests, is poised to change this scenario dramatically. Spot Bitcoin ETFs offer a multitude of benefits over the current structures: an improved fee system, greater liquidity, better price tracking, and a much-needed break from the complications of self-custodying assets. As the report explicitly states, “The presence of a US-regulated spot Bitcoin ETF that adheres to strict regulatory compliance not only provides a more secure platform but also elevates its transparency, making it a preferable choice over existing investment products.” Why A Spot Bitcoin ETF Matters Galaxy believes that the introduction of a Bitcoin ETF would increase the digital asset’s “accessibility across wealth segments” and establish “greater acceptance through formal recognition by regulators and trusted financial services brands.” The report highlights the disparity between age groups when it comes to Bitcoin investments. It reveals that while Boomers and older generations hold 62% of US wealth, only 8% of adults aged 50 and above have invested in cryptocurrency. Galaxy sees regulatory approval for a Bitcoin ETF as a significant step towards establishing Bitcoin as a mainstream investment. An ETF could help reduce market volatility by offering “greater price transparency and discovery for market participants.” Estimating Inflows From ETF Approval Galaxy’s forecast suggests the US wealth management sector, managing a combined asset worth $48.3 trillion, will be the most impacted by a Bitcoin ETF’s launch. They estimate potential inflows into the Bitcoin ETF to be around $14 billion in the first year, escalating to $27 billion in the second year and reaching $39 billion by the third year. Factoring in the historical relationship between gold ETF fund flows and gold price change, Galaxy predicts a potential price increase of 6.2% for BTC in the first month after an ETF’s launch. They project this to taper down to +3.7% by the last month of the first year, resulting in an estimated +74% increase in BTC in the first year of an ETF approval. At the current price, this would mean that BTC could rise above $59,000 in the post-ETF debut year. The Bigger Picture Beyond the potential inflows into a US ETF product, Galaxy predicts that there will be a much larger impact on BTC demand “from second-order effects”. The potential approval of a spot ETF in the US might instigate similar products in other global markets. Moreover, Galaxy expects that various other investment vehicles, like mutual funds and private funds, will integrate Bitcoin into their strategies. Galaxy suggests the potential for Bitcoin’s Total Addressable Market (TAM) to grow substantially, perhaps encroaching on traditional asset sectors like real estate and precious metals. The estimated potential new inflows into BTC could range between $125 billion to $450 billion “over an extended period.”

Ethereum price rallied following Bitcoin and tested $1,850 against the US dollar. ETH is correcting gains, but the bulls might remain active near $1,750. Ethereum started a downside correction from the $1,850 resistance. The price is trading above $1,750 and the 100-hourly Simple Moving Average. There is a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a clear move below $1,750. Ethereum Price Remains Supported Ethereum started a strong increase above the $1,750 resistance. Bitcoin dragged ETH higher toward the $1,850 resistance before the bears appeared. A high is formed near $1,849 and the price is now correcting gains. It traded below the 23.6% Fib retracement level of the upward move from the $1,659 swing low to the $1,849 high. However, the price is still trading in a positive zone. Ethereum is now trading above $1,750 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support near $1,755 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the upward move from the $1,659 swing low to the $1,849 high. Source: ETHUSD on TradingView.com On the upside, the price is facing resistance near the $1,805 level. The first major resistance is near the $1,850 zone. The next key resistance is near $1,880. A close above the $1,880 resistance could send the price further higher. The next key resistance is $1,950, above which the price could accelerate higher. In the stated case, Ether could test the main $2,000 barrier. Any more gains might open the doors for a move toward $2,200. More Losses in ETH? If Ethereum fails to clear the $1,805 resistance, it could continue to move down. Initial support on the downside is near the $1,780 level. The next key support is $1,750 and the trend line zone. A downside break below the $1,750 support might send the price further lower. In the stated case, Ether could drop toward the $1,720 level. Any more losses may perhaps send Ether toward the $1,700 level and the 100-hourly Simple Moving Average. 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 – $1,750 Major Resistance Level – $1,805

Solana is gaining pace above the $30 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $35. SOL price started a major rally above the $28 resistance against the US Dollar. The price is now trading above $29.20 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $32.10 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could start a strong rally if it clears the $32.10 and $32.75 resistance levels. Solana Price Eyes More Upsides After forming a base above $22.50, Solana started a fresh increase. SOL gained bullish momentum after Bitcoin rallied above the $30,000 resistance. There was a strong move above the $28.80 and $30.00 resistance levels. It even spiked above the $32.50 level. A high is formed near $32.79 and the price is now consolidating gains. There is also a key contracting triangle forming with resistance near $32.10 on the 4-hour chart of the SOL/USD pair. Solana is now trading above $29.20 and the 100 simple moving average (4 hours). It is now showing positive signs above the 23.6% Fib retracement level of the upward move from the $23.13 swing low to the $32.79 high. Source: SOLUSD on TradingView.com On the upside, immediate resistance is near the $32.00 level and the triangle region. The first major resistance is near the $32.75 level. A successful close above the $32.75 resistance could set the pace for a larger increase. The next key resistance is near $35.00. Any more gains might send the price toward the $36.50 level. Are Dips Limited in SOL? If SOL fails to recover above the $32.00 resistance, it could continue to move down. Initial support on the downside is near the $30.50 level. The first major support is near the $28.00 level or the 50% Fib retracement level of the upward move from the $23.13 swing low to the $32.79 high. If there is a close below the $28.00 support, the price could decline toward the $26.80 support in the near term. Technical Indicators 4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $30.50, and $28.00. Major Resistance Levels – $32.00, $32.75, and $35.00.

Dogecoin has been showing renewed exuberance with impressive figures this week, surging to an intraday high of $0.06525 Tuesday. This substantial rally allowed the cryptocurrency to surpass a significant resistance level positioned at $0.0640. Notably, this price breakthrough represented a momentous achievement for Dogecoin, as it hadn’t reached such heights since August 31. The cryptocurrency’s remarkable rebound from a low of $0.06068 indicated a resurgence in investor interest and enthusiasm, underlining the dynamic and often unpredictable nature of the cryptocurrency market. This event also served as a reminder of Dogecoin’s ability to capture the attention of traders and investors, prompting them to join the fray during this period of heightened market activity. Dogecoin: Market’s Shift Toward ‘Greed’ Territory In a recent X post by @DogecoinFear, an intriguing insight into the Dogecoin Fear and Greed Index emerges, revealing a current score of 71, which signals that the market may be entering “greed” territory. In this context, “greed” signifies an intense desire for profit. A high score on the Dogecoin Fear and Greed Index, like the 71 mentioned, reflects a market where many investors are primarily motivated by the pursuit of substantial financial gains. This heightened “greed” sentiment can raise concerns about potential overvaluation or a forthcoming market correction. This fascinating metric holds significance for cryptocurrency enthusiasts, as it suggests the potential for an impending market correction. Conversely, when the index dips into “Fear” territory, it may serve as an indicator for investors to consider it a buying opportunity. At the time of writing, DOGE was trading at $0.066, down 2.8% in the last 24 hours, but still maintained a solid 12% ascent in the last seven days, data from crypto market tracker Coingecko shows. A number of cryptocurrency analysts have recently said in X posts that they believe DOGE will eventually reach the lofty $1 target. Dogecoin, according to cryptocurrency analyst Ali Martinez over the weekend, is nearing the peak of a multiyear slipping triangle pattern. This pattern often serves as a technical indicator that hints at a potential bullish breakout. The $1 target for DOGE has been a subject of widespread interest and speculation within the cryptocurrency community, and these insights from analysts reinforce the optimism surrounding Dogecoin’s future price trajectory. DOGE’s Bullish Signal: TD Sequential Indicator in Action Based on Martinez’s analysis, it has been seen that the Tom DeMark (TD) Sequential indicator has recently exhibited a bullish signal for DOGE. The TD indicator is utilized to identify potential trend reversals by tracking a sequence of price points. The analyst said: He added that a sustained close above the key resistance level at $0.062 holds the potential to trigger a notable upswing in Dogecoin’s value, potentially driving it towards the $0.070 mark. This pivotal breakthrough could signify a shift in market sentiment, attracting more traders and investors who see the potential for further gains. It’s an important technical milestone to watch, as surpassing such resistance levels often signals renewed interest and buying activity in the cryptocurrency market. (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 Air Force Athletics

A ripple of excitement has recently coursed through the crypto market, particularly on Bitcoin. Bolstered by speculation regarding the impending approval of a spot Bitcoin exchange-traded fund (ETF) —a sentiment propelled by BlackRock’s iShares ETF’s appearance on the DTCC website—Bitcoin recorded an 18-month high trading above $35,000. This upward movement came on the heels of a notable 10% surge on Monday. ProShares Short Bitcoin Strategy ETF: A Declining Tale? Contrary to the general jubilance, not all BTC-related financial instruments are shared in the celebration. The ProShares Short BTC Strategy ETF, designed for traders banking on a decline in Bitcoin futures, grappled with a record low. Just over a year ago, this fund basked in the glory of a peak value of $45.61; a zenith reached as crypto assets took a downturn in the aftermath of FTX’s collapse. However, this year, the ProShares Short Bitcoin Strategy ETF has faced challenges, its value diminishing by 59.3% to stand at $16.68, a historic nadir, at the time of writing. This dip didn’t deter investors. Despite the drop, the ProShares Short BTC ETF, boasting net assets of $62.98 million, is poised for its second consecutive month of inflows, according to data from Lipper. Lucas Kiely, the Chief Investment Officer at digital wealth platform Yield App, offered a perspective on this trend. He posited that the market might be “buying the rumor and selling the fact.” Kiely further elaborated that the BTC short ETF provides investors a unique opportunity to speculate on a potential BTC sell-off. The Chief Investment Officer noted: Furthermore, Kiely suggested another motive behind investors’ moves. With the surge in BTC’s value, some might be seeking to “lock in” their profits and, hence, are turning to the ETF as a hedge against potential future downturns. Other BTC-Related ETFs Enjoy The Rise Conversely, some BTC-associated ETFs rode the wave of optimism. The ProShares Bitcoin Strategy ETF, mirroring BTC futures alongside the Valkyrie Bitcoin Miners ETF, registered gains of 7.68% and 6.54%, respectively, over the past day. Leading the pack among recently introduced funds that track Ethereum (ETH )futures was the Valkyrie Bitcoin and Ether Strategy ETF, with a commendable 7.64% uptick over the same period. Furthermore, BTC has retraced from its recent traded high of $35,000 and currently trades at $33,746, at the time of writing, still up 9.2% in the last 24 hours. Featured image from Unsplash, Chart from TradingView

Stephan Livera, an esteemed host of his namesake podcast and Swan Bitcoin’s Head of Education, has now provided the crypto community with projections for Bitcoin’s future trajectory. This week, Bitcoin experienced a rally that took its price to as high as $35,000, marking its highest point since May 2022. However, amid the favorable climate around a potential spot Bitcoin exchange-traded fund (ETF) approval and institutional adoption, Livera posits that this surge is merely the precursor to a much grander bull run. The Potential Impetus: A Spot Bitcoin ETF Approval of a spot Bitcoin ETF could be a game-changer for Bitcoin’s valuation, according to Livera. Conversing with Michelle Makori, the Lead Anchor and Editor-in-Chief at Kitco News, during the Pacific Bitcoin Festival, Livera emphasized the possible ripple effects of such an approval. While murmurs suggest that ETF approval might be on the horizon by the close of this year, Livera diverges from this sentiment. Livera anticipates this landmark event to materialize more likely in 2024. The Head of Education at Swan Bitcoin noted: Notably, a significant event, such as the halving cycle, will impact Bitcoin’s market dynamics. Historically, this event – which slices the miners’ reward for new block addition to the Bitcoin blockchain by half – has spurred price shifts. The upcoming cycle will set the block reward at 3.125 BTC. This, combined with the potential spot ETF approval, could catalyze a heightened interest and influx of investments into Bitcoin, according to Livera. Projected Peaks And Troughs: The BTC Landscape Livera offers a roadmap of Bitcoin’s possible pricing journey. The Swan Bitcoin’s Head of Education foresees a stabilization around the $30,000 mark shortly, with a potential escalation toward $40,000 as we approach next year’s halving event. But the real fireworks might commence after the halving, ushering in a wild bull run. Expounding on historical trends, Livera shared: This extrapolation by Livera culminates in a noteworthy prediction for the end of 2024 – a bold ascent, perhaps reaching roughly $500,000 by 2025 or early 2026, according to the expert. However, the climb might be coupled with a steep decline. Drawing parallels to gold, Livera posits Bitcoin could potentially mimic its valuation range. Livera added, emphasizing the volatility of the crypto domain: Featured image from Unsplash, Chart from TradingView

1inch Investment Fund, a fund closely tied with the crypto exchange aggregating platform, 1inch, has sold 4,685 stETH for 8.54 million USDC at $1,823, according to Scopescan, an analytics platform, on October 24. By selling at spot rates, the fund has netted $1.28 million in profits since the stETH was bought at an average price of $1,550 less than a week ago. 1inch Investment Fund Sells stETH StETH, or staked Ethereum (ETH), is an ERC-20 token representing staked ETH on the Lido Finance protocol. The platform allows anyone to stake their coins and earn rewards without necessarily locking their coins for an extended period. As of October 24, Lido Finance is the most popular decentralized finance (DeFi) application looking at total value locked (TVL). DeFiLlama data shows that the protocol manages over $15.7 billion of assets, of which over 95% are ETH. Technically, any ETH holder wishing to stake and earn network rewards stake on Lido Finance receives stETH in return, representing the stake amount. The higher the staked amount, the more stETH the protocol issued. This stETH can be traded, transferred, or used to secure loans while concurrently earning network rewards. Selling stETH means 1inch Investment Fund automatically unstaked the same amount on Lido Finance and sold the underlying coins. Even so, transferring the underlying ETH can take several days when there might be changes to spot prices. Curiously, the decision is when the crypto market seems to recover, and Ethereum is roaring back to life towards the $2,000 level. Considering that the fund is private and doesn’t divulge its strategy to the public, it couldn’t be immediately determined why it sells stETH when market confidence is high. Will Ethereum Prices Break $2,000? Looking at price charts, Ethereum prices are up roughly 17% from H2 2023 lows, rallying at spot rates. The October 23 and 24 expansion has seen the coin break higher, registering new October highs. Even so, despite the overall confidence, the failure of bulls to complete reverse losses of August 17 should be a concern. Ideally, a comprehensive surge above $1,800 and $2,000 could anchor a leg up toward $2,100 in the coming sessions. When the fund sold stETH at $1,823, price data showed it exited at around today’s peak. There is an inverted hammer in the ETHUSDT daily chart, an indicator that prices are inching lower on increasing selling pressure.

Bitcoin price started a downside correction from the $35,000 resistance. BTC could start a fresh increase unless there is a move below $32,800. Bitcoin rallied toward the $35,000 resistance before the bears appeared. The price is trading above $33,200 and the 100 hourly Simple moving average. There is a key breakout pattern forming with resistance near $34,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower toward the $33,000 zone before it starts a fresh increase. Bitcoin Price Corrects Gains Bitcoin price rallied over 15% after there was speculation of spot ETF being listed DTCC. BTC surged toward the $35,000 resistance zone before the bears appeared. A new multi-week high was formed near $35,225. Recently, the price started a downside correction below the $34,500 level. There was a move below the 23.6% Fib retracement level of the upward move from the $29,694 swing low to the $35,225 high. Bitcoin is now trading above $33,200 and the 100 hourly Simple moving average. There is also a key breakout pattern forming with resistance near $34,050 on the hourly chart of the BTC/USD pair. The triangle support is close to the 50% Fib retracement level of the upward move from the $29,694 swing low to the $35,225 high. On the upside, immediate resistance is near the $34,050 level. The next key resistance could be near $34,800. The main resistance is now forming near the $35,000 zone. Source: BTCUSD on TradingView.com A clear move above the $35,000 barrier might send the price toward the $36,200 resistance. The next key resistance could be $37,000. Any more gains might send BTC toward the $38,000 level in the coming days. More Losses In BTC? If Bitcoin fails to rise above the $34,050 resistance zone, it could continue to move down. Immediate support on the downside is near the $33,400 level. The next major support is near the $32,800 level and the triangle trend line. If there is a move below the trend line support, the price may perhaps decline toward the $31,500 level in the coming sessions. 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 – $33,400, followed by $32,800. Major Resistance Levels – $34,050, $34,800, and $35,000.

In the ongoing frenzy surrounding meme coins that have captivated the cryptocurrency market throughout 2023, PEPE has experienced a significant resurgence. After a prolonged decline from July 14 to October 3, the memecoin halted its downtrend and entered an accumulation phase. Subsequently, it embarked on a renewed bullish uptrend starting on October 20, outperforming Ethereum-based altcoin Shiba Inu (SHIB) and Elon Musk-backed Dogecoin (DOGE) by a significant margin. As a result of this uptrend, PEPE has reclaimed its position in the top 100 list of cryptocurrencies, currently ranking 96th. Bitcoin’s Surge Beyond $35,000 Sparks Market Uptrend This surge in value has been largely influenced by the market leader, Bitcoin (BTC), which surpassed the $35,000 mark on Tuesday. For many, the current uptrend is driven by anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF), which could potentially bring a new wave of capital into the market. Furthermore, Dogecoin is among the five popular meme coins influenced by Bitcoin’s rise to $35,000. Shiba Inu also experienced a 5.9% gain and is currently trading at $0.00000765, following a similar pattern to DOGE. In a significant development, the dev team behind PEPE announced on X (formerly Twitter) that approximately 6.9 trillion $PEPE tokens, worth around $6,000,000, have been burned. Additionally, a new team of advisors has been brought on board to guide the future direction of Pepe. The original team is exploring using the remaining 3.79 trillion tokens, attributed to the Centralized Exchange (CEX) multi-sig wallet, for strategic partnerships and marketing opportunities. The PEPE community can expect regular updates on future token burns, movements, or uses through Twitter and the official telegram channel. PEPE Price Skyrockets By 25.83% In 24 Hours As of today, the price of Pepe (PEPE) stands at US$0.000000930549, with a 24-hour trading volume of $455,035,042.79. This represents a significant price increase of 25.83% in the last 24 hours and a 43.63% increase over the past 7 days. With a circulating supply of 420 billion PEPE, Pepe currently holds a market capitalization of $398,014,904. On the other hand, SHIB is currently priced at $0.00000739, with a 24-hour trading volume of $314,695,140.13. Over the past 24 hours, SHIB has experienced a price increase of 2.72% and a 6.04% increase over the past 7 days. With a circulating supply of 590 billion SHIB, Shiba Inu has a market capitalization of US$4,348,847,496. Meanwhile, DOGE is trading at $0.065989, with a 24-hour trading volume of $1,064,277,555.26. Over the past 24 hours, DOGE has seen a price increase of 3.02% and an 11.02% increase over the past 7 days. With a circulating supply of 140 billion DOGE, Dogecoin holds a market capitalization of US$9,327,269,145. The recent price movements and market activities of these meme coins reflect the renewed confidence and interest in the cryptocurrency market. Furthermore, these numbers solidify PEPE’s position as the standout performer in the market. Featured image from Shutterstock, chart from TradingView.com

14/21, or 66%, of the top gas-consuming smart contracts on Base, a layer-2 platform for building and deploying smart contracts, are unverified. According to Token Terminal data on October 24, the same contracts are some of the most actively used, reading from gas fee trends over the last month. Friend.tech Leads The Gas Race On Base Base is a layer-2 scaling solution and one of OP Mainnet and Arbitrum’s competitors. The platform relies on the Optimistic Rollup technique, allowing transactions to be batched off-chain before being confirmed on the mainnet. This is the same approach competitors, including Arbitrum and OP Mainnet, adopted. As of October 24, the most gas-consuming protocol already labeled and known to be deployed from a given developer is Friend.tech. Still, the developer remains anonymous. The decentralized social media protocol allows users to buy and sell keys to each other’s X accounts. In this way, trading parties can access exclusive in-app chatrooms and content by a given user. By deploying on Base, Friend.tech users enjoy lower trading fees than they would have launched on the mainnet. Beyond fees, the protocol can also scale since the layer-2 solution can handle higher throughput than the mainnet. In the last month, Friend.tech generated over $253,000 in gas fees. The execution fee, often known as layer-2 fee, on Base, which uses Optimism, is set by the network and is flat. The fee prevents users from spamming the network and rewards nodes that prove all transactions submitted on the platform. The other fee is the approximate for confirming the same transaction batch on the mainnet. This fee is generally higher than the execution fee. The Case Of Popular But Unverified Smart Contracts While gas fees generated by Friend.tech is over $253,000, it is down over 47% in the last month. This could suggest that trading activity fell since the fee generated by a network is directly proportional to how frequently it is used. Friend.tech fees, when writing, remain suppressed, underperforming the activity of unverified smart contracts, looking at fees generated over the last month. Over the previous 30 days, one unverified contract has seen a 104% increase in trading fees, reaching $42,000. Another contract has increased by 1,690%, exceeding $11,000 in the same period. As the name suggests, these unverified codes have yet to be confirmed by a third party. This can mean there is no guarantee that the same developer built and deployed code on Base. At the same time, the code might contain malicious code that could steal from addresses it interacts with.

Bitcoin’s (BTC) price could be set to experience a 300% surge if a Spot Bitcoin ETF is finally approved by the United States Securities and Exchange Commission (SEC). BTC Could Surge 300% When A Spot ETF Is Approved The predictions of Bitcoin experiencing a 300% surge in its price from analysts can be traced back to the growth of Gold over the years after a Spot Gold ETF (SPDR Gold Shares) was approved back in November 2004, and listed on the New York Stock Exchange (NYSE). The price of Gold had experienced an eight-year consecutive bull run following its first spot gold ETF. Before the listing, the price of Gold as of November 2004, was around $430/oz, and 3 years later, the numbers had doubled. Fast-forward to the end of 2011, the price of gold was already trading at $1,800/oz indicating a 300% surge in price. Currently, the price of gold is closely gaining on its highest peak price of $1,977/oz, bolstered by geopolitical tensions in the Middle East. Gold moves slowly and steadily, and it is significantly less volatile than Bitcoin, but analysts anticipate the price of Bitcoin is likely to reach $120,000 in the next couple of years if the digital asset manages to reiterate the movement of Gold since its spot gold ETF approval. If the Bitcoin price were to follow this same pattern, then it could hit $100,000. Recently, Bitcoin has achieved its highest price peak of $35,000 since May 2022. The recent increase in price can be traced back to the propaganda and excitement encompassing a spot Bitcoin ETF approval. However, the digital asset is still 50% down from its all-time high in 2021. Last week, Bitcoin experienced a whirlwind rise of over 10% within minutes after a false report was released by Cointelegraph that a spot Bitcoin ETF had been approved by the SEC. However, the digital asset’s price later fell almost immediately after the report was proven to be false by Blackrock’s Chief Executive Officer Larry Fink. Its significant market movement this week has prompted analysts to enter “price prediction mode.” The breakout was anticipated by cryptocurrency expert Mags for the end of the year. In addition, a decline below $30,000 is anticipated within the following few months. Analysts believe that this will be the last area of accumulation before a significant breakout that would see the asset rise up to $50,000 prior to the halving. Bitcoin Spot ETF Boasts Higher Chance Of Approval Recently, analysts have predicted a spot Bitcoin ETF to be approved by January 2024, due to the recent developments following the approval of a Spot Bitcoin ETF by the SEC. Bloomberg crypto analyst James Seyffart shared his team’s prediction of a spot Bitcoin ETF approval on his official X (former Twitter) handle. The team believes that there is a 90% chance of approval of a spot Bitcoin ETF by January 10, 2024. The team’s prediction came amidst ARK 21Shares Bitcoin ETF filling that had been updated with 5 new pages. The move suggested a “constructive conversation” with the SEC, an indication that an investment fund is likely to be approved soon.

The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October. This is the first GBTC transaction publicly disclosed by ARK since November 2022. In light of the recent market upsurge caused by speculation about the launch of a spot BTC ETF, ARK Investment led by Cathie Wood sold shares of the Grayscale Bitcoin Trust (GBTC). The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October for $2.5 million. This is the first GBTC transaction publicly disclosed by ARK since November 2022, when the company bought 450,272 GBTC shares at a value of $4.5 million via ARKW. Cashing in Profits The deal was made when GBTC hit a multi-month high of $24.7, the highest price it has been since May 2022. TradingView reports a gain of approximately 30% in the last 30 days and a gain of more than 200% year to date for GBTC. About 2% of ARKW’s GBTC holdings, or $122.6 million as of Oct. 23, were sold in the most recent transaction. ARKW’s biggest holding is in GBTC (10.4% of the product’s exposure), followed by investments in Coinbase (9%) and Roku (7.4%). Samson Mow, a vocal proponent of Bitcoin, theorizes that ARK’s recent GBTC sale is connected to the company’s wait for a ruling from the U.S SEC on the company’s application to list a Bitcoin-based ETF. In response to ARK’s Oct. 11 amendment to its spot Bitcoin ETF filing, Grayscale on Oct. 19 submitted a fresh BTC ETF registration statement to the SEC. In addition to the GBTC sale, ARK raised $3.4 million by offloading 32,158 shares of Coinbase from ARKW and 10,455 shares from its ARK Fintech Innovation fund. Highlighted Crypto News Today: Cathie Wood Says SEC Bitcoin ETF Approval Appears Imminent

The unique indices will categorize digital assets into numerous groupings. There will be many indices in this series, each one dedicated to a distinct kind of digital assets. To enter the cryptocurrency indices market, Grayscale Investments has teamed up with FTSE Russell, a division of the London Stock Exchange. A new offering called the Crypto Sector Index Series is in the works. There will be many indices in this series, each one dedicated to a distinct kind of digital assets with a particular set of applications. The unique indices will categorize digital assets into numerous groupings. Cryptocurrencies like bitcoin and litecoin are one example, as are smart contract initiatives like ether and Solana, and tokens associated with financial services like Uniswap and compound. In addition to currencies having practical uses like Chainlink and Filecoin, the indexes will also include coins with ties to the arts, games, and media. Wider Range of Options Grayscale’s director of ETFs, Inkoo Kang, recently discussed the rationale behind the indices’ asset allocation. The technique uses the square root of the market capitalization of each cryptocurrency, mitigating the disproportionate impact of large-cap tokens like Bitcoin. As a result, investors will have a wider range of options to choose from. The progress Grayscale has made recently is not without legal obstacles, however. New York’s attorney general, Letitia James, filed a lawsuit against Grayscale’s parent company, DCG, and its other subsidiary, Genesis, last week. The cryptocurrency exchange Gemini and other high-ranking executives were also mentioned in the filing. Earn is a product developed by Genesis and Gemini in partnership, and its controversial nature is at the heart of the matter. The NYAG claimed that substantial user money misappropriations occurred because the companies misled the public about the nature of this product. Highlighted Crypto News Today: Cathie Wood Led Ark Invest Sells Grayscale Bitcoin Trust (GBTC) Shares