What is an Altcoin? The word “altcoin” is an abbreviated term meaning “alternative coin”. Altcoin is simply the name given to all the cryptocurrencies that aren’t Bitcoin. Altcoins typically form in two ways. Either an independent developer pursues their own vision and develops a new cryptocurrency from the ground up or there’s developmental disagreement among the creators resulting in some deciding to split off to make their own. For example, Litecoin splintered off from Bitcoin in 2011, believing that greater transaction speeds were the way forward. This led to many of the established cryptocurrencies and altcoins sharing similar characteristics and operating systems – like Arbitrum using the Ethereum blockchain ledger and Solana using the same proof-of-work technology as Bitcoin — growing the number of alternative variants. Types of Altcoin There are many types of altcoins used for a variety of purposes. As some creators tried revolutionizing payments and increasing transaction speeds, others developed altcoins and cryptocurrencies for more niche functions. The main types of altcoins are: Mining-based coins Bitcoin is a mining-based coin. This means that a team of professional miners use software to solve mathematical equations to verify blocks of transactions — when a block is verified, the miner receives a small part of a bitcoin as a reward. As well as the two giants, Bitcoin and Ethereum, many other altcoins — like Litecoin, Dogecoin, ZCash, and Monero — also follow this verification strategy. Unfortunately, it is time-consuming, costly, and uses a lot of energy to mine. Stablecoins Stablecoins are a type of cryptocurrency that have their price fixed through either an artificial algorithm or by linking them to a fiat currency or commodity to uphold its value and prevent wild fluctuations. For example, Tether — a stablecoin based in the United States — is bound to the US dollar. This means Tether’s price can only follow the natural market value of the currency and isn’t at the mercy of supply and demand. Although typically a safe investment, problems can arise when the company or issuer of the coin doesn’t have sufficient reserves to justify its value. Staking-based Some altcoins have a different consensus mechanism for verifying block transactions. While most cryptocurrencies, tokens, and altcoins approve blocks using a proof-of-work consensus mechanism, some coins use what’s known as a proof-of-stake mechanism. Holders of stake-based coins have options to stake their coins — this means offering their coins to a third-party reviewer for transaction processing. With each verified block, the participants are rewarded with small portions of the coin as a reward. Altcoins like Cardano, Toncoin, and Polkadot are all examples of proof-of-stake currencies. Governance Some currencies give investors “voting rights” to have a say in the future direction of the cryptocurrency by voting on proposals and suggesting ideas for improving the blockchain project. The idea behind these coins is to decentralize decision-making and allow the investors a chance to have a say on how to improve the operating systems and blockchain infrastructure and give hands-on feedback to developers. How many altcoins are there? Because of the popularity of cryptocurrency and how it’s proven to be a lucrative money-making opportunity – even after the 2013 crypto boom – there are thousands of different coins, each with their own unique blockchain infrastructure and consensus mechanisms. It’s estimated that there are just over 17,000 types of altcoins available on the market. Are altcoins a good investment? For investors looking to add cryptocurrency to their portfolio, altcoins are a great diversifier. Just like a stock, a cryptocurrency can appeal to investors and perform well on exchanges if it has strong market and technical fundamentals. Factors such as whether an altcoin has a positive technical trajectory — like rapid transaction technology, desirable, secure blockchain infrastructure, and a strong demand for supply — can make it a desirable investment opportunity for long-term investments and traders. However, it’s important for investors to research the coins before committing large amounts of capital to them, as the market is still in its infancy. What to consider before buying altcoins Evaluating an altcoin for investment is more complex than just watching candlestick charts and trying to jump in at the right time. Some of the things investors need to know when investing in altcoins and cryptocurrency include: Market capitalisation The market cap of a cryptocurrency is calculated by multiplying the number of coins in circulation by the value of the coin. Typically, the higher the market cap, the higher the value of the cryptocurrency and the potential price fluctuations of each coin – making it an integral metric for deciding whether or not to invest. Trading volume Trading volume is the number of cryptocurrency tokens or coins being bought and sold over a specific time frame. The higher the volume, the more desirable the currency, as it shows there’s significant interest — indicating periods of rapid growth or decline. Historic and current price trends Although not guaranteed to yield results, looking at historic pricing — as well as more recent charts — can help investors paint a picture of the general pricing trends of a cryptocurrency. Market sentiment Keeping informed of crypto news is paramount to making an investment. Because cryptocurrencies are still in their infancy, much of their value is derived from consumer hype and faith in a cryptocurrency’s infrastructure. Therefore, news is likely to have a dramatic effect on the pricing of each token or coin — this is especially true for smaller altcoins that aren’t as established as giants like Ethereum, Ether, and Litecoin. Social media sentiment Just like mainstream news can govern market sentiment, social media can too. Positive social media attention can cause the price of a coin or token to skyrocket, as investors swarm to claim a share of the profits. However, it’s important to practice caution when considering social media opinions for many reasons. Although they’re a good source of information, it could potentially be wildly inaccurate. Even worse, social media hype has the potential to be part of a pump-and-dump scheme where influencers and public figures artificially inflate currencies only to release their own holding when it reaches the peak. Future trends in altcoins As technology, consumer sentiment and currency users change, altcoins must adapt to keep pace with new requirements. 2023 is a new year for altcoins and many changes are around the corner. Some of the key anticipated changes are: Addressing crypto’s environmental impact Proof-of-work systems use exorbitant amounts of energy and require expensive, high-power computers to uthorizes blockchains, green-light payments, make transfers, and mine currency quickly. It’s such an expense that Ethereum is moving to a proof-of-stake consensus mechanism to create new blocks in its blockchain. This not only speeds up payment times for consumers but reduces overhead costs and is kinder on the environment — setting the precedent for many altcoins to do the same. Reviewing how new and existing coins are valued A recent string of proposed government ICO clampdowns in countries like the USA, UK, and Sweden may trigger a change in how new coins are valued at market entry. One of the main issues is that they are completely unregulated, allowing scams to ravage investors’ portfolios without any recourse for repayment. With some governments worldwide forcing cryptocurrency developers to disclose information about the coin, registering it in an index, and implementing investor protection strategies to compensate consumers, this could affect the cryptocurrency landscape — forcing crypto developers into creating coins with real-world utility and avoiding the meme route. A potential boom in the second half of 2023 As investors fled the markets at the start of the year in the wake of a weakened economy and rising interest rates, the start of 2023 saw the cryptocurrency market begin to bear. However, some analysts speculate that the value of some cryptocurrencies — namely, Ethereum, XRP, and Solana — are expected to see sizeable gains, with some others expected to follow suit. Frequently Asked Questions (FAQs) What are the top 3 altcoins? The cryptocurrencies expected to make substantial gains towards the end of 2023 are, Ripple (XRP), Binance Coin (BNB), and Solana (SOL), while Ethereum (ETH) has already made substantial gains this year. What is the most famous altcoin? While the first altcoin, Namecoin, holds the title for being the original, Ethereum is arguably the most famous altcoin on the market, being the only alternative coin coming close to rivaling the historic highs of Bitcoin. What are the disadvantages of altcoins? While altcoins are a great diversifier for a portfolio — allowing investors to stake money on emerging assets while being protected by historic hedges like precious metals and commodities — investing in them does come with an inherent set of problems. The main problems with altcoin investments are: They’re incredibly volatile, and therefore, high-risk. Some cryptocurrencies oversupply the demand — stagnating the price. The value of an altcoin is almost solely based on speculation and hype and can be overvalued. There is always a risk with altcoin investments that they’re pump-and-dump schemes — meaning investors have to be careful when researching altcoins and be wary of those with low liquidity. How do altcoins gain value? Altcoins gain value like any other stock, cryptocurrency, or commodity — through increased demand. When news breaks that an altcoin has made a significant step to boosting its real-world utility or investors are swarming to it, the price of the coin will rise as demand increases and supply falls.

Many stakeholders in the crypto industry have welcomed the idea of traditional finance firms offering a Spot Bitcoin Exchange-Traded Fund (ETF) as they believe it will further drive crypto adoption. However, the former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, seems to be against the move. Problems With BlackRock Spot Bitcoin ETF Filing In a post published on his Substack platform, Hayes made his displeasure known regarding the recent wave of Spot Bitcoin ETF applications by prominent traditional financial (TradFi) institutions, including BlackRock. Contrary to public opinion, he doesn’t believe these TradFi institutions are bullish on crypto. Instead, they are moving to become “crypto gatekeepers” to balance their deposit base, explaining that these companies intend to offer ETFs or any similar investment product with crypto as its underlying asset to achieve this. He stated that since these fund managers will be the “only game in town,” they can charge investors enormous fees in exchange for their investment products. According to him, institutions like BlackRock recognize that cryptocurrencies can be used to hedge against inflation and could have a significant impact on the economy going forward. So they want to have it “under their control” when that happens. He believes the only times these firms have done a “good job” is to paint the crypto industry and cryptocurrencies in a bad light to the government. As such, they will have a hard time changing the narrative to circumvent the federal government’s proposed inflation tax on bank depositors. The Bitmex founder suggested that the United States Securities and Exchange Commission’s (SEC) clampdown on the crypto industry was never about the technology itself but who owned it. He believes those who had earlier tried to get a Bitcoin ETF approved faced disapproval based on their status. However, the regulator seems more welcoming to the idea because of the prestige of BlackRock and its CEO, Larry Fink. TradFi Doesn’t Care About Decentralization Hayes noted that the banks and financial regulators could collaborate to uphold the dollar’s sovereignty. According to him, this can be easily achieved by both parties agreeing to ensure that all crypto redemptions are made in the US dollar and not the “physical crypto” itself. These US dollars will then be put back into the banking system, which he believes is already compromised. Hayes is more concerned that all this goes against Satoshi’s vision of creating a decentralized financial system and he believes BlackRock’s CEO Larry Fink doesn’t care about decentralization. He highlighted that Fink and BlackRock’s business model is built on centralization, adding that asset managers like BlackRock do not add value to the Bitcoin Improvement Proposals, such as increased privacy or censorship resistance. Instead, these asset managers moving to offer ETFs means they have more control over large voting blocks and can affect governance decisions.

Binance ended zero-fee trading for top BTC pair BTC/TUSD, stirring memories of the 90% volume crash in March. Binance appears to be reducing TUSD support despite BTC/TUSD being a leading pair. Sneak Peek 3: Critics say Binance’s policy changes cause market instability. Cryptocurrency exchange Binance recently announced it will modify its popular zero-fee Bitcoin trading program, ending free BTC/TUSD trades starting September 7th. While zero fees remain for BTC/FDUSD, Binance is discontinuing the incentive for one of its largest BTC pairs. In March, when Binance halted zero-fee BTC/BUSD trades in favor of the lesser-used TUSD pair, overall trading volumes crashed by 90%. Now, with TUSD losing its zero-fee status as well, many worry history could repeat itself. Is Binance reducing TUSD support? Binance is seemingly reducing support for TUSD amid general stablecoin concerns. However, TUSD and USDT represent Binance’s highest-volume BTC pairs after BNB. Redirecting activity to the marginal FDUSD could spark another heavy selloff. After the previous policy shift, the billions in volume on BTC/BUSD evaporated overnight. While some of that migrated to BTC/TUSD, much simply left the exchange. With FDUSD barely registering in the top BTC pair rankings, similar results seem likely. Critics argue that Binance’s constantly changing zero-fee pairs and policies create unnecessary instability in the wider market. And unstable market conditions right now, amidst the recent volatility, could lead to more heavy sell-offs, according to analysts. But others believe the impacts will be minimal, as most high-frequency traders have already adapted to Binance’s zero-fee pair merry-go-round. However, only time will tell whether this latest shift triggers another cascade of selling or barely causes a ripple.

Crypto whale spends $5M on Ethereum and DeFi tokens, potentially signaling a bull run. Anonymous whale buys $5M in ETH, Lido, Uniswap and Aave at current prices. Whale’s diverse $5M crypto purchase hints at bullish market sentiment. An anonymous cryptocurrency whale recently made a series of large purchases totaling around $5 million spread across Ethereum and several top DeFi tokens, including Lido, Uniswap, and Aave. The whale acquired the assets at prices largely in line with current market rates, buying 557 ETH at $1,676 each, 593,139 LDO at $1.69, 413,727 UNI at $4.83, and 17,203 AAVE at $58. Smart whale buys the dip Ethereum remains near the whale’s entry price of $1,676, lending confidence that the smart contract giant is fairly valued at the moment. Lido and Uniswap also trade at the whale’s purchase prices, presenting potential buying opportunities for retail investors before a move upward. Whale accumulation often precedes bull runs, as large holders signal confidence before markets move. This particular whale’s diversity across both Ethereum and DeFi blue chips implies a bullish outlook on the broader crypto space rather than a bet on single assets. Additionally, such substantial capital inflows can entice smaller buyers to enter the market, creating a compounding effect. This is especially true when prominent whales lead the way. For regular investors, times of heavy whale accumulation can offer a window to ride the waves of eventual price appreciation in the early stages. While risks exist as always, the crypto whales may again be paving the way for the next bull stampede.

Following the recent downtrend in the crypto market, Solana’s native token, SOL, recorded heavy losses in the past few days. But now the token’s price moves on the daily chart showed the formation of a green candlestick yesterday after many days of posting vivid red ones. According to current stats, SOL’s price has decreased by over 7% in the past week. But from August 23, the coin started an uptrend reflected in its 24-hour price change of 5.75% today, August 24. Notably, the recent news about Shopify’s integration of Solana Pay seemingly reignites investors’ confidence in SOL. Millions Of Businesses On Shopify Can Now Use Solana Pay Solana Labs launched its decentralized payment platform, Solana Pay, on the layer-1 blockchain in February 2022 and now, Solana Pay’s plug-in is now available on Shopify. This allows millions of businesses using the e-commerce giant to use the service for payments. Related Reading: Pantera CEO Calls Ripple Victory A Black Swan, But Is It Bad? According to the reports, the first crypto option for users will be the second-largest stablecoin in the market, USDC. Given its stability and close value to USD, it was chosen as the first to appear on the platform. However, Shopify’s business development and partnerships head, Josh Fried, revealed that more crypto assets such as BONK and SOL will soon be available. Fried also shared with an online news site, TechCrunch, that transactions on Solana Pay are very affordable, given how low the ecosystem charges. Fried said: Also, he applauded Solana Pay as a crypto app worth using, saying, “Some people argue the killer app for crypto hasn’t arrived, but it has: it’s payments. [Everyone] should be doubling down on this.” Will SOL’s Current Uptrend Continue? Shopify is a globally recognized platform with a 10% share of the United States’ e-commerce industry. So Solana Pay’s entrance into the e-commerce giant’s hub is expected to boost the ecosystem’s exposure and utility. Already, there are more than 11 million active accounts on Solana and the ecosystem is also a player in the NFT sector, with over 21 million assets minted. It also offers low transaction costs at $0.00025. These capabilities and continual adoption by top giants in diverse industries will likely push SOL’s price upwards in the coming days.

Terra Luna Classic (LUNC) has embarked on a six-month journey marked by a consistent downtrend, largely influenced by the gravitational pull of a so-called descending channel pattern. This pattern, characterized by successive lower highs and lows, mirrors an active market sentiment favoring sales during attempts at bullish rebounds. Mid-August proved to be a pivotal juncture for LUNC as aggressive selling surged, triggering a precipitous plunge from $0.0000658 to $0.0000523. This swift and significant 34% drop led to a critical retest of the support trendline intrinsic to the falling channel pattern. Interestingly, the coin’s value exhibited resilience through multiple instances of dynamic rebounds, translating to intermittent bullish bounces in its ongoing recovery phase. Terra Luna Classic Chart Hints Signs Of Resurgence Delving into the price analysis, the daily chart unfolded a compelling narrative with a long-tailed rejection manifesting at the lower boundary of the channel pattern, commencing on August 17. This occurrence effectively signaled an undercurrent of demand pressure. Capitalizing on this support, the price rebounded vigorously, propelling it upwards by 22%, currently resting at $0.0000638. Should LUNC’s price sustain its position above $0.6 in the coming days, a beacon of hope emerges for buyers to potentially spearhead a rally of up to 25%, culminating in a rendezvous with the overhead trendline of the channel. Yet, the market’s true affirmation of a trend reversal hinges upon a more decisive signal: a bullish breakout from the resistance trendline. Nova’s Strategic Intervention Amidst Community Dynamics In a parallel development, Terra Luna Classic’s validator, Nova, has unveiled a strategic initiative in response to a proposal that floundered amidst some challenges. The proposal, aimed at funding the Quant USTC repeg team, faced rejection within the Terra Luna Classic community. Despite a promising trajectory for Proposal 11716, which sought to financially support the Quant team for the month, some validators’ eleventh-hour “No” votes led to its downfall. Consequently, Nova has stepped forward to finance the USTC repeg team, fostering a collaborative spirit. With an appeal for the community to align their interests and redelegate with Nova, a concerted effort seeks to bolster the USTC repeg mission and breathe renewed life into the Terra Luna Classic ecosystem. The LUNC price on CoinGecko currently stands at $0.00006448, reflecting a 0.5% increase in the past 24 hours. Additionally, over the course of the past seven days, the LUNC price has experienced a decline of 4.8%. As the Terra Luna Classic journey unfolds, the interplay of technical trends and community dynamics sets the stage for another chapter in the cryptocurrency 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 The Blade

A recent release suggests that Pantera CEO Dan Morehead may have predicted the impact of a Ripple victory long before it occurred. Ripple Victory: A “Positive Black Swan” Speaking at the Bloomberg Invest Panel, held back in June, Morehead was quizzed about what “black swans” the world should expect next, considering that we had just recently experienced a pandemic, complete shutdown, and financial crisis due to the pandemic. Morehead responded and stated that we already had the “massive shoes drop last year,” most likely in reference to the events surrounding the collapse of prominent crypto firms like FTX, Three Arrows Capital (3AC), Terra, and BlockFi. However, while Morehead believed the worst had happened, he noted that the regulatory clarity was something that no one in the crypto community was expecting but could happen soon. He stated how that could happen and highlighted the three-year ongoing lawsuit between the SEC and Ripple Labs as one of the ways. Considering that “black swan” had been used earlier as a metaphor for disastrous events like the pandemic, Morehead quickly labeled a potential Ripple victory as a “positive black swan.” He emphasized that this could be the next ‘shoe to drop’ and could positively impact the crypto industry. Interestingly, when Morehead made these comments, he had no idea of the impending victory for Ripple, as he stated that a ruling could go in favor of either party. About a month later, Judge Analisa Torres ruled in favor of Ripple and said that its secondary XRP sales didn’t constitute an investment contract, nor were programmatic XRP sales classified as a security. As predicted by Morehead, Ripple’s victory has undoubtedly had immense impacts on XRP and the crypto community in general. Has Ripple’s Victory Provided Regulatory Clarity? Morehead had predicted that Ripple’s victory would be one of the ways in which the crypto industry attains regulatory clarity. While this may have not yet been attained, it is obvious that Judge Torres’ ruling has provided some form of guidance, especially to firms like Binance and Coinbase. The SEC sued both crypto exchanges in June for allegedly offering unregistered securities on their platforms. Additionally, the regulator also tagged tokens like SOL, ADA, MATIC, ATOM, and ALGO as securities. As such, Ripple’s case provides a precedent for these firms to cite when putting forward their arguments in court. The SEC recognizes the impact that Judge Torres’ ruling could have against it as it continues to clamp down on the crypto industry, and that is why it moved to file an interlocutory appeal against the ruling. However, some experts have predicted that the SEC will likely lose when the case is heard upon appeal.

The intricate dance between Bitcoin, crypto and real yields is becoming increasingly pronounced. As the world of traditional finance grapples with the implications of shifting real yields, the BTC and crypto market is not immune to these fluctuations. For the uninitiated, the ‘real yield’ refers to the yield on US treasuries, adjusted for inflation. This metric is pivotal in understanding the broader financial ecosystem, and its movements can have profound implications for risk assets, including Bitcoin and other cryptocurrencies. Higher Real Yields = Bitcoin And Crypto Down Renowned analyst @tedtalksmacro recently shed light on this intricate relationship, stating, “An important correlation – BTC + US real yields. Simply, higher real yields drive investors to cash and fixed-income… and out of ‘riskier’ assets like BTC and stocks.” This observation underscores the delicate balance that Bitcoin and other cryptocurrencies maintain with the broader financial market. The path of real yields is determined by two primary factors: inflation and nominal rates. With the Federal Reserve’s hiking cycle nearing its end, nominal yields are potentially at their zenith. However, the trajectory of inflation remains uncertain, and as @tedtalksmacro notes, it will “likely be the greater mover of real yields.” Adding another layer of complexity, the US treasury’s recent influx of longer-dated issuance is exerting upward pressure on nominal yields, especially on the back-end. The 10-year, for instance, is trading at highs not witnessed since 2008. On the topic of inflation, expectations lean towards a decline in the coming months. As @tedtalksmacro astutely points out, “If you have been following along, [this would be] conducive to higher real yields. Higher real-yields are bearish for risk-assets.” This observation is particularly salient for the crypto community, as falling inflation, counterintuitively, might spell trouble for risk assets like Bitcoin. The Federal Reserve’s aggressive rate hikes aim to curb inflation. Yet, the unintended consequence of this strategy, combined with sustained high rates, could be a rise in real yields. This makes fixed-income assets more appealing, potentially diverting investments away from riskier ventures like stocks and altcoins. The crypto community awaits Jerome Powell’s address this Friday with bated breath. As @tedtalksmacro anticipates, Powell is likely to persist with the ‘higher for longer’ rhetoric, a stance the FOMC has maintained since late 2021. “Higher for longer + falling inflation + fresh duration issuance = higher real-yields = lower risk assets,” concludes @tedtalksmacro. Will BTC And Crypto Fall Due To Jackson Hole? Keith Alan, founder of Material Indicators, draws attention to historical patterns and potential market reactions to Jackson Hole. “Remember when FED Chair Powell spoke from Jackson Hole last year and his hawkish tone triggered a 29% BTC dump that took 5 months to recover? JPow returns to JHole this Friday and there are some similarities in the PA we are seeing now and the PA we saw leading up to last year’s speech.” Alan highlights the technical patterns observed in Bitcoin’s price movements leading up to Powell’s previous speech and the current scenario. However, he cautions against drawing direct parallels, emphasizing the changed macroeconomic conditions and Powell’s evolved communication style. “To be clear, the similarities in the current PA, relative to last year’s PA do not mean that price will react the same way this time,” Alan states. He underscores the need for investors to be vigilant, yet not reactive, to the potential market volatility surrounding the upcoming Jackson Hole event. “We must expect JPow’s words to move markets.” At press time, BTC traded at $26,589.

Investing in cryptocurrencies like Dogecoin can be tricky, as the nascent market is known to be the most volatile in terms of price movement. One day, an investor triples his investment, and the next day, all of it is gone. So knowing when to sell and exit a position can sometimes be challenging. This is the recent case of a once-DOGE millionaire who has seen the worth of his holdings fall from almost $3 million to $50,000. However, despite the ups and downs, this long-time HODLer believes Dogecoin has staying power. Still Bullish On Dogecoin Dogecoin has come a long way since its creation as a joke. The cryptocurrency saw its value spike dramatically in 2021, making early investors sudden millionaires in the process. At the peak of its rally, DOGE rose from a market cap of $1.2 billion to $75.26 billion in less than five months to reach a price all-time high of $0.74. One of these investors who became millionaires overnight as a result of this rise was Las Vegas resident Glauber Contessoto, known as SlumDOGE Millionaire on social media platform X. During the rise of DOGE, this investor saw his holdings reach $2.9 million and was popularly known as one of the first Dogecoin millionaires. The hype bubble has since popped, and the value of Dogecoin has toppled, with the cryptocurrency now trading at $0.06378. This would see Contessoto’s holdings now worth around $50,000. Despite his loss, Contessoto continues to have trust in Dogecoin. According to a social media post, he mentioned how dog theme meme coins have a better chance of spiking than other meme coins. “I feel like they will rise again,” he said. He said this while noting the success of frog-themed crypto PEPE. Contessoto is not the only one that has witnessed the value of his DOGE holdings fall dramatically. Another investor, Keith Johnson, who suffered losses, made headlines for filing a $258 billion lawsuit against Elon Musk. Known as the Dogefather because of his support for Dogecoin, Musk’s tweets regarding the crypto have regularly led to price spikes. What’s Next For DOGE? Even though Dogecoin has continued to struggle, the meme coin has had its moments this year. In July, DOGE saw a brief spike in price, leading it to become the 8th-largest cryptocurrency by market cap. But while the Dogecoin ecosystem has gathered a huge community, things seem to be calm at the moment. At the time of writing, DOGE is trading at $0.06366, down by 6% in the past seven days. However, many DOGE investors hope to see a price spike if DOGE is finally accepted as a payment method on social media platform X.

Crypto expert and author of Civ Kit, an app that lets users build their decentralized marketplace, Ray Youssef, has recently taken to his X (formerly known as Twitter) account to share his stance on Ethereum and its impact on Bitcoin adoption. Youssef’s remarks on Ethereum’s influence over Bitcoin’s growth trajectory were both striking and laden with implications for the future. Ethereum’s Challenge To Bitcoin Growth On August 23, Ray Youssef who is also a founder of the Built With Bitcoin Foundation, expressed his view that Ethereum, despite its shared objectives with Bitcoin, presents a significant hurdle to Bitcoin’s broader acceptance. The crypto expert particularly noted: “ETH has been the biggest block against Bitcoin adoption.” Youssef’s rationale? He suggests that the challenges posed by Ethereum overshadow its utility parallels with Bitcoin. The foundational issues, according to Youssef, lie in Ethereum’s inherent characteristics. Further amplifying his viewpoint, Youssef highlighted the potential of CivKit, a platform he believes could mimic the necessities of a financial model. In doing so, he suggests that this would effectively sift out deceptive components, leaving them to scammers. Building on this, Youssef recently pointed out the potential role of BRICS nations, including Brazil, Russia, India, China, and South Africa, in shaping the future of P2P Bitcoin markets. Civ Kit and Drivechain: The Innovations In The Crypto Space? April saw the release of a whitepaper introducing Civ Kit, a product endorsed by Youssef and other Bitcoin enthusiasts like Antoine Riard and Nicholas Gregory. This tool aims to create a resistant, decentralized peer-to-peer marketplace. By combining Nostr architecture with the Lightning Network, Civ Kit promises enhanced privacy and security, offering features like decentralized identity, escrowed trades, and P2P messaging protocol. However, the conversation that initially triggered Youssef’s tweet focused on a discussion between researcher Timoleon Moraitis and Ethereum’s founder, Vitalik Buterin. This conversation, highlighted by Bitcoin expert Pierre Rochard, revealed Co-Founder of Ethereum, Vitalik Buterin’s lack of interest in Drivechain, a feature that allows Bitcoin to operate across secondary chains, termed “sidechains.” Rochard commented on the significance of this conversation, noting Buterin’s position could be seen as an informal “veto” of Drivechain’s relevance. In a further twist, Buterin opined on the changing dynamics of Proof-of-Work (PoW) blockchains since 2019, stating that BTC miners no longer dominate this landscape. Emphasizing the shift in power dynamics, Buterin remarked that even with a majority, miners cannot enforce the acceptance of invalid blocks into the main chain. He underscored that the controlling power now resides with the users. Despite the argument between Bitcoin and Ethereum, both assets have been in a continuous downward trend over the past 7 days. Particularly, Ethereum has dropped by 6.6% while Bitcoin by 7.2% with a current market price of $26,555, at the time of writing. Featured image from Shutterstock, Chart from TradingView

Platforms have emerged as critical security tool due to their ability to consolidate the capabilities of many security tools currently deployed by organizations SEATTLE–(BUSINESS WIRE)–#CNAPP–The Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment, today released the findings of the Cloud Native Application Protection Platform (CNAPP) Survey Report. Commissioned by Microsoft, the survey, which was developed to better understand the adoption rates and challenges faced by organizations in implementing CNAPPs, found that they have emerged as a critical category of security tooling in recent years. Much of their popularity, the survey found, has been driven by the complexity of comprehensively securing multi-cloud environments and their ability to consolidate the capabilities of the numerous security tools organizations current deploy, namely Cloud Security Posture Management (CSPM), Cloud Workload Protection (CWP), and Cloud Infrastructure Entitlement Management (CIEM), network security, and secure DevOps. “When considering the challenges facing today’s businesses, people and technology take center stage. On one hand, companies need to bolster the workforce with well-trained security professionals who understand their roles and responsibilities. On the other hand, there’s a pressing need for effective technology and tooling that both addresses the rapidly evolving landscape of cybersecurity threats while effectively supporting security teams,” said Hillary Baron, lead author and Senior Technical Director for Research, Cloud Security Alliance. “It’s clear that today’s multi-cloud environments are increasingly complex, and enterprises must find ways to comprehensively address their security posture.” “Many traditional security solutions still in use today just aren’t capable of adequately protecting increasingly dynamic and distributed multi-cloud strategies. As organizations navigate their path in the cloud, it’s imperative that they leverage solutions that offer an integrated approach to security. In doing so, they can better prepare themselves to handle the complex cybersecurity challenges of today and the future,” said Adwait Joshi, Director of Cloud Security product marketing at Microsoft. Among the survey’s key findings: Cloud Native Application Protection Platform: Three out of four organizations are opting to use CNAPP to protect their multi-cloud environment. A majority of organizations (75%) have either implemented or plan to implement CNAPPs in their cloud environments. One of the driving factors behind this move is the prevalence of multi-cloud strategies—84% of organizations reported that they utilize two or more cloud environments. Cloud Security Posture Management: Security teams are demanding clear-cut information for proper prioritization. A flood of security alerts has made it difficult for security teams to manage and prioritize security enhancements. Thirty-two percent of respondents disclosed that they’re struggling with prioritizing security improvements due to the overwhelming—and often incorrect—information they receive. Moreover, 34% find themselves buried under security recommendations, while an equivalent percentage lacks contextual or actionable insights to make informed decisions. DevOps Security: Despite growing recognition the importance of DevOps security, expertise and talent shortages are hindering progress. Despite the trend toward shift-left security and DevSecOps, the incorporation of robust security measures within DevOps is still in its early stages, with significant obstacles hindering full integration. Currently, 51% of organizations are in the process of integrating security into their DevOps practices, with only 35% reporting complete integration. The primary challenges include lack of security expertise (46%), insufficient automation (43%), an excessive number of false positives (42%), and lack of actionable feedback (42%). Cloud Workload Protection: Challenges around incident response come back to people, process, and technology. The lack of manpower was identified as a significant challenge by 25% of respondents; an absence of formal response plans was reported by 29% of organizations; and 39% reported the lack of automation as a key challenge. Network Security: The most mature implementation, yet threat detection remains a challenge. Network security, out of all the categories, was the most mature. Forty-three percent of respondents reported full integration in a multi-cloud environment for network security, compared to just 28% CSPM. While the growing popularity of zero-trust strategies may be a key driver behind this level, organizations are still facing key challenges in network security, particularly concerning threat detection and the management of a large volume of security alerts. Cloud Infrastructure Entitlement Management: Misconfigurations top concern with permissions. Just under half (43%) of organizations identified misconfigurations of permissions as their top concern. This prevalent issue can have serious repercussions, potentially leading to unauthorized access and even catastrophic data loss. Misconfigurations can inadvertently expose sensitive data or grant unnecessary privileges, creating openings that could be exploited by malicious actors. The survey, which was conducted in April 2023, gathered more than 1,200 responses from IT and security professionals from various organization sizes, industries, locations, and roles. Sponsors are CSA Corporate Members who support the research project’s findings but have no added influence on the content development or editing rights of CSA research. Review the complete 2023 Cloud Native Application Protection Platform (CNAPP) Survey report. About Cloud Security Alliance The Cloud Security Alliance (CSA) is the world’s leading organization dedicated to defining and raising awareness of best practices to help ensure a secure cloud computing environment. CSA harnesses the subject matter expertise of industry practitioners, associations, governments, and its corporate and individual members to offer cloud security-specific research, education, training, certification, events, and products. CSA’s activities, knowledge, and extensive network benefit the entire community impacted by cloud — from providers and customers to governments, entrepreneurs, and the assurance industry — and provide a forum through which different parties can work together to create and maintain a trusted cloud ecosystem. For further information, visit us at www.cloudsecurityalliance.org, and follow us on Twitter @cloudsa. Contacts Kristina Rundquist ZAG Communications for CSA [email protected]

Mythical Games Launches First-Ever Blockchain In-Game Marketplace on the Official App Store and Google Play Store NEW YORK & LOS ANGELES–(BUSINESS WIRE)–To celebrate the kickoff of the 2023 NFL season, NFL Rivals, the officially licensed video game of the National Football League (NFL), and the NFL Players Association’s (NFLPA), has launched worldwide for mobile devices. NFL Rivals is the first NFL-licensed mobile game that incorporates Web3 digital ownership technology. After a massively successful soft launch with more than 2 million downloads and over 15 million games played in under four months, NFL Rivals is starting the new season with brand-new packs, in-game and live events, new game modes, and unique pack offerings. Players’ dream of becoming a General Manager of an NFL team is now a reality while competing with arcade-style gameplay. Built through a partnership with the NFL, the NFLPA, and next-generation gaming technology studio Mythical Games, NFL Rivals is a first-of-its-kind mobile video game, incorporating Web3 digital ownership with an in-game utility that allows fans to own, collect, and trade playable digital assets that unlock access to special events, in-game rewards, and other unique features. Coinciding with the worldwide launch of the game, NFL Rivals is opening the first-ever blockchain in-game marketplace on mobile. The in-game marketplace will allow players to purchase player cards and packs, and to buy other player’s cards listed for sale, all without leaving the game. Digital items in the marketplace will be listed in Rivals Credits, a currency gamers can buy through the App Store and Google Play using IAP. Later iterations of the in-game marketplace will also feature bidding. “The incredible reception by fans during the pre-season of NFL Rivals blew us away,” said John Linden, CEO at Mythical Games. “Now, with the global launch of the game, we’re excited to give NFL fans an opportunity to play, build, and own their very own team of licensed NFL players during the regular season.” Recently, NFL Rivals entered into a new partnership with the Miami Dolphins. The partnership, NFL Rivals’ first with an NFL franchise, gives Rivals prominent in-stadium branding at Miami Dolphins home games and opportunities for fans to win VIP experiences at Dolphins home games throughout the season. This Rivals initiative is in an effort to reach fans in major markets as the NFL season kicks off. NFL Rivals is now available for download in the App Store and Google Play Store. Interested players can also visit the NFL Rivals website for more information and to join the NFL Rivals Community. About Mythical Games Acknowledged by Forbes’ Disruptive Technology Companies To Watch in 2019 and Fast Company’s World Changing Ideas 2021, Mythical is a next-generation games technology company creating a web3 gaming ecosystem by leveraging blockchain technology and playable NFTs for tools that enable players, creators, artists, brands and game developers to become stakeholders and owners in new “play and own” game economies. Led by gaming industry veterans, the team specializes in building games around player-owned economies and has helped develop major franchises including Call of Duty, World of Warcraft, Guitar Hero, DJ Hero, Marvel Strike Force, and Skylanders. Mythical Platform protects gamers that may be new to blockchain through a custodial wallet for their digital items while allowing advanced players the freedom to link their own wallets via bridges between the Mythical Chain and public mainnets. With its “gamers-first” focus, the Mythical Platform ensures players don’t need to dive into the intricacies of blockchain to enjoy ownership of their digital collections and have a great game experience. About the NFLPA The National Football League Players Association (“NFLPA”) is the union for professional football players in the National Football League. Established in 1956, the NFLPA has a long history of assuring proper recognition and representation of players’ interests. The NFLPA has shown that it will do whatever is necessary to assure that the rights of players are protected—including ceasing to be a union, if necessary, as it did in 1989. In 1993, the NFLPA again was officially recognized as the union representing the players and negotiated a landmark Collective Bargaining Agreement (“CBA”) with the NFL. The current CBA will govern the sport through the 2030 NFL season. About OneTeam Partners A licensing, marketing, and multimedia powerhouse, OneTeam launched as a joint venture between the NFL Players Association (NFLPA), MLB Players Association (MLBPA), and RedBird Capital Partners to maximize the collective value of athletes’ rights across group licensing, marketing, media and investing. OneTeam represents a range of commercial business interests on behalf of the athletes of the NFLPA, MLBPA, MLSPA, U.S. Women’s National Team PA, WNBPA, U.S. Rugby PA and League of Legends Championship Series PA. OneTeam also has several collegiate partnerships that include Altius Sports Partners, INFLCR and Opendorse. OneTeam Partners, facilitated the NFL Rivals deal in collaboration with all parties. Contacts Nate Nesbitt Head of Communications [email protected]

As we step into August, the crypto market continues to promise intriguing possibilities. Three altcoins in particular, Hedera (HBAR), Everlodge (ELDG), and Solana (SOL), are poised to steal the show. Everlodge, still in its presale phase, already shows tremendous potential and captivates the attention of investors around the globe. Let’s delve deeper into these promising tokens and why they should be on your watchlist. Join the Everlodge presale and win a luxury holiday to the Maldives Everlodge (ELDG): Is a 100x Price Surge on the Horizon? The Presale Phenomenon Everlodge aims to democratize the realm of luxury real estate for the average investor. Picture this: owning a portion of a $9 million Manhattan penthouse with just a $100 stake. This dream-like scenario is being actualized by Everlodge. By turning properties into fractionalized NFTs, Everlodge’s platform allows users to own a piece of real estate without breaking the bank. Plus, using blockchain technology enables immutable records of ownership and money transfer. But Everlodge is more than just an investment platform; it’s an all-encompassing ecosystem. Its Launchpad feature is particularly enticing, offering property developers a unique chance to raise capital directly from a robust, enthusiastic investor base. The Rewards Club is another facet of Everlodge drawing significant attention. Membership to this club accrues nights at some of the globe’s most desired properties. Moreover, the prospect of trading these stays offers a refreshing blend of opulence and revenue generation. Industry experts are eyeing Everlodge’s potential to shake up the multi-trillion-dollar real estate sector. Given ELDG is priced at just $0.010 during the initial presale phase, some analysts are forecasting a 100x path during 2023. Find Out How To Buy Everlodge (ELDG) Network Activity Surge: Solana (SOL)’s $305M TVL Milestone Despite the overall market uncertainty, Solana’s technical indicators present a gleam of optimism. A golden cross has manifested in on the Solana chart, a bullish indicator that happens when a short-term moving average surpasses its long-term counterpart. Concurrently, Solana’s network has been buzzing with heightened activity. Solana’s TVL measured $204M in January 2023 and has since skyrocketed to $305M at the time of writing. This appears to be due to Solana’s emergence as the go-to platform for DeFi 2.0 applications. While Solana has retreated from the recent peak of $32, it has found support on a descending trendline at $21. Some market experts see this as a potential entry point for Solana fans. Assuming a positive trajectory, the next resistance points for Solana are set at $40 and subsequently at $80. But for now, Solana’s fate, like many altcoins, remains tethered to Bitcoin’s market moves. Hedera (HBAR)’s Potential Surge vs. New Contenders Like Everlodge (ELDG) Hedera’s remarkable capacity to process transactions swiftly, finalizing in under six seconds and at a minimal fee of $0.001, has drawn many eyes. Notably, Hedera’s governing council is composed of 39 renowned global entities, including the likes of Google. Hedera’s price trajectory this year has been notable, catapulting from $0.035 to $0.098 in a remarkably short period. Despite a subsequent correction, settling around $0.064, the prevailing sentiment for Hedera remains bullish mainly. Many investors are still holding out for another Hedera surge, drawn by its unique governance and technological promise. However, analysts are quick to point out that Hedera’s growth may be tempered by existing ‘bag holders’ ready to sell at the next resistance point. This contrasts sharply with emerging platforms like Everlodge, which faces a relatively unobstructed path to growth. The next Hedera price targets to watch are at $0.10 and $0.20. Breaching these two resistance points would signify a much larger bullish impulse for Hedera, with the latter target representing an impressive 100% return on investment. Find out more about the Everlodge (ELDG) Presale Website: https://www.everlodge.io/ Telegram: https://t.me/everlodge

API3’s New Push Oracle Solution Improves Security and Transparency of Data Brought On-chain GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–Earlier this year Polygon zkEVM launched with an ambitious goal of scaling DeFi and driving adoption by leveraging the power of zero-knowledge proofs while ensuring EVM equivalence. Since April 2023, API3 has been providing first-party oracle services to Polygon zkEVM. With the recent introduction of managed dAPIs on the API3 Market, builders can now access multi-source, decentralized data feeds (dAPIs) delivered by first-party oracle nodes with native-chain aggregation. Lending protocols and perpetual DEXs are core layers of the DeFi economy. These protocols require real-time market data which must be brought on-chain by an oracle. The vast majority of DeFi apps – worth tens of billions in TVL – continue to use push-type oracles to secure their TVL. The current blockchain oracles require protocols and chains to pay high fees for solutions with limited to no source transparency or introduce additional vulnerabilities due to having to modify pull oracle solutions. In order to address these challenges, API3 designed a new push oracle solution around first-party architecture. This solution allows DeFi protocols that are currently using push oracles on other EVM chains to quickly and easily migrate to Polygon zkEVM, allowing for the rapid adoption and scaling of DeFi to the next billion users. A Next-Generation Push Oracle Solution API3’s novel push oracle design is built around the Airnode first-party oracle node, which removes rent-seeking middlemen and offers a more secure and efficient method of bringing real-time market data directly on-chain. With native-chain aggregation and multi-source data feeds, developers can leverage more reliable data, reducing downtime and improving data integrity. Unlike oracle designs that involve third-party oracle node operators, API3’s first-party push oracle leverages data directly from the source. The oracle nodes are operated by the data providers themselves, bringing cryptographically signed data onto the blockchain. The push oracle design can be verified down to the API parameter and sets a new standard for data source transparency. Push oracles have been a key solution for DeFi applications like Aave, Compound, and various DEXs. But with API3’s new push oracle, the game is changing. This new model aligns the incentives for data providers, networks, and dApps. The launch of API3’s managed dAPIs marks a new standard in the industry, by offering direct access to an assortment of real-world data, including crypto, forex, equities, and commodities straight from the source. Serving the DeFi ecosystem with DAO-managed oracle service Developers have already been using dAPIs on Polygon zkEVM as self-funded data feeds, but now have access to multi-source, aggregated data feeds served directly on-chain by leading data providers. QuickSwap Perps is currently utilizing dAPIs to ensure accurate pricing, as well as Dovish, a perpetual swap protocol. MantisSwap, a DEX specializing in the trading of stable assets, currently uses dAPIs to enhance their protection mechanism for stablecoin depegging, which underscores the role of the improved security characteristics of dAPIs for DeFi applications. Tropykus, a lending and borrowing dApp that forked from AAVE V2, leveraged self-funded dAPIs to quickly and easily launch on Polygon zkEVM shortly after it launched. By requiring minimal changes to battle-tested code, dAPIs give developers a first-mover advantage with the potential of rapid deployment on new networks. Building the Future of Decentralized Finance on Polygon zkEVM The API3 Market provides an easy way to browse, access and manage dAPIs. Developers looking to utilize managed dAPIs need to read the proxy contract address of the associated data feed, which is imported to the dApps contracts. From the proxy address price reference data is supplied to the smart contract function. Managed dAPIs are changing the way dApps use real-time market data. Delivered as a managed service, they abstract away operational factors like gas management, maintenance, and monitoring. As technological innovations continue to improve the core infrastructure necessary for scaling DeFi to the broader world, the collaborative approach between Polygon zkEVM and API3 represents the crucial role oracles have in scaling Ethereum. The next generation of blockchain oracles will provide improved security and transparency with first-party oracle solutions. API3 DAO looks forward to exploring the possibilities of decentralized finance as the potential of smart contracts is fully realized. “It’s very exciting to see API3 deploying on Polygon zkEVM, enhancing the DeFi ecosystem with an innovative push oracle solution. The integration of managed dAPIs with Polygon’s scalable infrastructure marks a significant step towards a more transparent and secure future for decentralized finance.” – Jack Melnick, Head of DeFi BD, Polygon Labs About API3: API3 is a blockchain oracle provider leading the transition from traditional third-party oracle networks to first-party oracle solutions. Their mission is to build a more interconnected DeFi ecosystem with secure, decentralized, and transparent oracle solutions. Built on the Ethereum blockchain, they deliver a suite of products to developers building next-generation applications, including the first-party Airnode to connect API providers directly to the blockchain, decentralized data feeds (dAPIs) on the API3 Market, QRNG services for generating truly random numbers on-chain, and OEV-Share to allow dApps to capture Oracle Extractable Value and improve protocol performance. For more information about API3 and managed dAPIs, visit the website, follow us on Twitter, or explore the technical documentation. Website | Twitter | Developer Email | Discord | YouTube | Medium | GitHub | API3 Market About Polygon Labs: Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups), sidechains, app-specific chains and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 320 million, 1.5 million smart contracts created and 2.9 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative. If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for dApps you develop, get started here. Website | Twitter | Developer Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Facebook ### Contacts Addison Huegel [email protected]

More than 300 companies took part in the launch of the exchange. China has been a strong backer of government-controlled blockchain initiatives. Officials from the Chinese government introduced a new blockchain-based data exchange during the 2023 Hangzhou Summit in Hangzhou, China. More than 300 companies took part in the launch of the exchange. According to articles published on August 23 by local news outlets in Hangzhou, the city’s newest data exchange will use distributed ledger technology to make it easier for businesses to trade their IT data. It was announced that the platform will make trades that are irreversible and auditable. Head of the National Laboratory for Blockchain and Data Security, Chen Chun stated: Banking on CBDC The digital economy industry in Hangzhou contributed approximately 27% of the city’s GDP in 2022, exceeding $69 billion. China has been a strong backer of government-controlled blockchain initiatives, despite its tough crackdown on private blockchain firms for quite some time now. The Chinese president, Xi Jinping, emphasized the importance of CBDC at the 2023 SCO Conference’s opening ceremony. Moreover, CBDC worth over $13.8 million was recently airdropped to Chinese citizens in an effort to increase domestic consumption. However, not every effort has been successful. The country’s official NFT exchange, CDEX, was said to be nearing completion of its debut on December 28, 2022. At the time of this writing, the platform is still under development. Highlighted Crypto News Today: Bitcoin Fails to Recover. More Crash to Come?

Primary account balances would be credited with rewards in addition to the principal. Recent legal precedents in the United States may have had a role in the outcome. Bitstamp, a cryptocurrency exchange, has decided to end its staking services for users in the U.S. The exchange takes a 15% cut of staked rewards, as stated on their website. Staking ETH on the exchange yields a monthly payout of 4.50%, while staking Algorand yields a monthly return of 1.60%. Along with Canada, Japan, Singapore, and the UK, the United States is now one of the nations where Bitstamp staking services are unavailable. The exchange stated: Recent Regulatory Effects Bitstamp’s U.S. CEO and global chief commercial officer, Bobby Zagotta, has said that customers’ primary Bitstamp account balances would be credited with rewards in addition to the principal, however he has cautioned that it may take a few days for users’ balances to reflect the changes. Recent legal precedents in the United States may have had a role in the outcome. Bitstamp said in early August that they will be withdrawing support for at least seven other cryptocurrencies. The exchange didn’t say why trading was halted, but in June, the U.S. SEC sued Binance and Coinbase over the seven tokens, finding that they were unregistered securities. Whether ETH should be categorized as a commodity or a security is a hotly debated topic in the current U.S. regulatory climate. While SEC Chair Gary Gensler acknowledged in April that Bitcoin was a commodity, he declined to say whether or not Ether should be classified as a security, despite the CFTC’s repeated classification of Ether as one. Highlighted Crypto News Today: Bitcoin Fails to Recover. More Crash to Come?

Binance explained that only a tiny portion of its users will be affected. Binance accounts around the world will not be affected. Binance, the world’s largest crypto exchange, has revealed that it will suspend crypto credit card services in Latin America and the Middle East starting August 25. However, the crypto exchange claimed that refunds and disputes could still be processed until December 2023. On August 24, Binance Customer Support replied to a crypto investor’s tweet, saying that the Binance card will no longer be available for users in Latin America and the Middle East. However, Binance didn’t state the reason behind the sudden suspension. The crypto debit card will work like other debit cards. It allows users to pay for day-to-day goods and services. The difference between them is that they use crypto assets. Users can convert their digital assets into fiat currency at the point of sale, enabling them to make purchases in their local currency. Binance will Terminate the Crypto Debit Card The crypto exchange also mentioned that the crypto debit card service will be terminated in Latin America and the Middle East by September 11. After that, the card will no longer be usable. The sudden suspension from the crypto exchange sent a shockwave through the crypto community. However, Binance explained that only a tiny portion of the users will be affected by the sudden suspension of the crypto debit card. There are less than 1% of users in the market will be impacted by this. However, Binance accounts around the world will not be affected. According to the tweet, users can also use Binance Pay, a contactless, borderless, and secure cryptocurrency payment system, to shop and send cryptocurrencies. However, the crypto exchange has not yet revealed the reason behind the suspension.

Optimism (OP) is proving to be a beacon of stability amidst the tumultuous fluctuations of the cryptocurrency market, particularly Bitcoin (BTC). While Bitcoin’s price swings have left investors on edge, Optimism’s weekly rally seems poised to extend its resilience. The cryptocurrency’s price trajectory has demonstrated a notable rebound, bouncing back from its range-low of $1.41. This steadfast performance has entrenched Optimism within a trading range bordered by $1.80 at the upper limit and $1.41 at the lower threshold. As bulls and bears lock horns in a battle for supremacy, the question looms: who will emerge victorious? OP Bulls Eye $1.8 Resistance As Momentum Grows As of the latest update, OP is priced at $1.57 according to CoinGecko, reflecting a slight 0.8% decline over the past 24 hours. However, the coin managed to register an impressive 10% increase in the last week. The momentum appears to favor the bullish contingent, as they prepare for a renewed assault on the formidable $1.8 resistance. A glimpse into historical data suggests that the bulls’ determination might yield success in their second attempt. According to this price analysis, favorable outcomes could propel Optimism towards take-profit levels ranging from $2.1 to $2.3. Investors and analysts are keenly observing this showdown, ready to gauge whether Optimism’s resilience will once again hold strong against market turbulence. Related Reading: Polygon (MATIC) At June Lows Again – Prospects For Bullish Recovery? However, the coin’s fate is by no means set in stone. A faltering attempt to breach the $1.8 resistance would spell an extension of the range-bound pattern, giving the bears an opportunity to regain dominance by targeting the critical $1.41 support. Network Growth Amidst Challenges Amidst these price fluctuations, Optimism has been strategically focusing on enhancing its network growth. A separate report reveals a remarkable upswing, with a 47% surge in daily transactions since mid-July. Moreover, the count of daily active addresses within the Optimism ecosystem has surged by an impressive 28% over the past month. This steady expansion indicates a growing user base and heightened engagement, boding well for the platform’s future prospects. However, recent concerns have cast a shadow over Optimism’s growth trajectory. The exploit of Exactly Protocol, a credit market operating on the Optimism network, has sparked worry among investors. This incident serves as a reminder of the challenges that even robust platforms face in a landscape characterized by innovation and risk. (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 Turbo and Stance

The overall market has entered a brief recovery phase post recent bloodbath. Several tokens, including ADA, BNB, SOL and MATIC, have been labelled as securities. Charles Hoskinson, founder of Cardano, is certain that the U.S. SEC would not go after ADA, the project’s native token. In a recent video interview, Hoskinson said that despite ADA being cited as a security in a lawsuit against a cryptocurrency exchange, no regulatory action has been taken against the token as of yet. Several tokens, including ADA, BNB, SOL and MATIC, have been labelled as securities by the SEC in recent lawsuits against two of the largest cryptocurrency exchanges in the world, Coinbase and Binance. Brian Armstrong, CEO of Coinbase, previously said that the government had requested that the exchange delist all tokens other than bitcoin due to their status as securities. Ongoing SEC Onslaught The SEC has been in a legal dispute with Ripple Labs for the last three years over the same accusation, with Ripple Labs maintaining its position that XRP is not a security. Hoskinson assured the interviewer that the SEC’s “somewhat antagonistic towards Cardano” and other blockchains stance had not affected ADA despite his earlier comments to the contrary. Hoskinson also stated that the SEC’s ongoing onslaught on crypto companies is entirely political and unrelated to securities legislation. He said that the agency’’s moves were all because of Sam Bankman-Fried (SBF), the founder and former CEO of the defunct cryptocurrency exchange FTX who is charged with billion dollar fraud by authorities. According to CMC, the price of ADA is $0.269 and is up 3.26% in the last 24 hours as the overall market has entered a brief recovery phase post recent bloodbath. Highlighted Crypto News Today: XRP: Most Popular Altcoin in South Korea, Surpasses Ethereum

The Bitcoin price experienced a resurgence yesterday, reaching a high of $26,843, a 3.7% increase after its recent crash from $29,000. The reasons behind this uptick are manifold. Why Is Bitcoin Up? According to on-chain analytics firm Santiment, significant Bitcoin holders, often referred to as whales and sharks, have been actively adding to their holdings. As of now, there are 156,660 wallets holding between 10 to 10,000 BTC, with a collective accumulation of $308.6M since August 17th. Whale and shark wallets have added 11,629 BTC in the past six days. Michaël van de Poppe, a well-regarded crypto analyst, drew attention to the strength shown by Silver & Gold, especially after the disappointing PMI rates yesterday. He believes that as yields appear to be topping out, Bitcoin might follow the trajectory of these commodities. Recent economic indicators from the US private sector provide further context. The S&P Global Composite PMI for early August showed a decline, falling to 50.4 from 52 in July. Both the Manufacturing and Services PMI indices also registered drops from 49 to 47 and 52.4 to 51 respectively. Moreover, the Bitcoin futures market certainly played a certain role in yesterday’s Bitcoin price movement. Yesterday, $28.06 million in short positions were liquidated on this market. After all, this is the third largest amount in August so far, surpassed only by August 17 ($120 million) and August 8 ($37 million). Market intelligence platform Decentrader highlighted the prevailing market sentiment, noting that despite Bitcoin’s price rise, there’s still a sense of uncertainty and fear. This sentiment is further underscored by the continuing negative dip in average funding rates. While this means that sentiment is still bad, it opens up the possibility for more short squeezes if traders are raging into shorts. The Dollar-Index (DXY) and its inverse relationship with Bitcoin also played a part. DXY was rejected just below 104 yesterday and dropped back to 103.5. The SPX showed a nice relief bounce with USD coming off 103.96. CryptoCon’s volume analysis offers a broader perspective on Bitcoin’s price movement. Since November 2020, the volume of Bitcoin transacted reveals why the price halted at its current position. The volume past $28,900 acts as a significant barrier. However, the current range of 24,000 to 29,000 for Bitcoin is relatively uncharted, suggesting that Bitcoin is searching for new support and preparing for a potential move to the next resistance zone. What’s Next For BTC? The upcoming Jackson Hole Economic Symposium tomorrow, Friday, where the Federal Reserve will discuss its future strategies, is a pivotal event on the horizon. Keith Alan of Material Indicators recalled the impact of last year’s symposium on Bitcoin, emphasizing, “Remember when FED Chair Powell spoke from Jackson Hole last year and his hawkish tone triggered a 29% BTC dump?” While there are parallels in Bitcoin’s price action leading up to this year’s event, it’s crucial to note that market reactions can be unpredictable and hinge on various factors. With the Bitcoin market poised for the events of tomorrow, the prevailing mood is one of anticipation mixed with caution. At press time, BTC traded $26,464.