The Dogecoin price is down around 5% in the last day following the general market crash. The meme coin which had seen improved sentiment did a quick 180 and started to bleed. However, while the Dogecoin price could only be following Bitcoin’s descent, are there other factors driving the decline? Why Is Dogecoin Price Falling? One reason that the Dogecoin price is down today is due to its proximity to Shiba Inu. The latter saw a highly anticipated Shibarium launch go awry on Wednesday, sparking rapid declines among the meme coins in its ecosystem. As a result of this unfortunate event, the price of SHIB fell almost 10% in a matter of hours and this seemed to have spilled over to Dogecoin. Dogecoin, being a meme coin and the largest competitor for Shiba Inu, was expected to rally if SHIB had gone up as a result of the Shibarium launch. There is also the issue of competition expected between Dogechain and Shibarium, further fueling this correlation. The problem with such correlations is that they tend to follow the same negative, as well as positive, path. Given this, when the price of Shiba Inu started to fall, Dogecoin followed suit with the expectations that both of these assets would go in the same direction. Additionally, DOGE, being one of the top 10 largest-crypto in the space, often tracks the performance of Bitcoin quite closely. So as Bitcoin declined off the back of the FOMC meeting, Dogecoin was hit with a double-decker bus, plunging it deep into the red territory. Can DOGE Price Recover From Here? It is not all bad news for Dogecoin according to crypto analyst “Tony The Bull.” In a recent analysis, he points out that DOGE had tagged the 1-month parabolic SAR. Now, this is notable because the last time the meme coin touched this level was back in 2021. The result of this was that DOGE’s price went from $0.0018 to over $0.7. This translated to an over 24,000% increase at the time. So it stands to reason that if the altcoin is tagging this 1M parabolic SAR again, then there could be a rally in the near future. However, it is unlikely that the price of DOGE will actually rise more than $50 at this level. This is because the crypto market is still in peak bear season while 2021 was peak bull season. Nevertheless, a rally toward $0.09 is not out of the question.

In a recent analysis of the Bitcoin price, seasoned crypto analyst Rekt Capital discussed the looming presence of a potential double top formation on the weekly chart. The scenario paints a picture of impending volatility, with both bullish and bearish narratives emerging from this often foreboding pattern. “The BTC Double Top still remains intact,” tweeted Rekt Capital, emphasizing the technical structure’s significance. He continues, “Weekly Bearish Divergence lends additional bearish confluence to this structure as well. More, the bear div is developing a new lower high (dotted green) relative to its primary downtrend (solid green).” However, BTC would need to drop an additional -9% to -13% from current prices to complete its potential double top. But what makes this analysis particularly intriguing is the current state of Bitcoin’s volume. Rekt Capital further observes, “What’s interesting about the volume behind BTC’s price action is that the two recent peaks formed on inclining volume while the RSI formed lower highs.” For many, this simultaneous increase in volume with descending RSI hints at underlying market weakness, an insight further supported by the subsequent declining volume after the local top at approximately $31,000. Diving deeper in his video analysis, Rekt Capital highlighted the need for a distinct “M”-shaped formation, a hallmark of the double top pattern. “For Bitcoin to form a double top here, we have to see an ‘M’-shaped formation take place. When we see a M form, that’s essentially a double top. One top here [at $30,800] and one top here [at $31,300].” Losing pivotal support levels could invite substantial downward movement. “Losing this [neckline] level at $26,000 as support would enable further downside,” warns the analyst. However, for traders and investors hoping for symmetrical behavior, Rekt Capital speculates, “And if we see symmetry here, a three month second part of this M could form so that’s going to prompt further downside and just slow bleeding into that 90 day-mark which would be around next month.” But not all is bleak. Should Bitcoin trace back to $24,000, a retracement would “see us retest the neckline of this inverse head & shoulders that we saw break out.” Rekt Capital adds, “So a retest of this level as a new support should actually enable further upside.” Also, a look at the 1-week chart also shows that there is another scenario for the invalidation of the double top. Bitcoin has formed an ascending trendline from its low in early January. Provided BTC can hold this trendline on a weekly basis and bounce up from there (at around $28,200), an invalidation would take place. The symmetry of the M would be broken, the uptrend on the higher time frames could continue.

PayPal has announced a temporary suspension of cryptocurrency sales within the United Kingdom for a minimum of three months, commencing on October 1. This decision is in direct response to the recent regulatory reforms introduced by the Financial Conduct Authority, Britain’s financial regulator. The FCA is set to implement more stringent guidelines aimed at curbing the advertising of cryptocurrencies to British consumers, which includes the mandatory inclusion of risk warnings and the discontinuation of “refer a friend” incentives. Adapting To Regulatory Landscape In an email to customers, PayPal UK explained that customers who currently hold cryptocurrency in their PayPal accounts will be able to retain their holdings on the platform without incurring any fees. Furthermore, the option to sell their cryptocurrency at any time will remain available. However, the ability to purchase cryptocurrencies using PayPal will be temporarily suspended during the company’s efforts to ensure compliance with the new regulations set forth by the FCA. This move comes against the backdrop of the impending enforcement of the “Travel Rule” in the UK. As of September 1, 2023, all cryptocurrency firms registered under the FCA will be obligated to adhere to the Travel Rule guidelines, a series of crucial Anti-Money Laundering and Know-Your-Customer regulations established by the Financial Action Task Force (FATF). This mandate was introduced following governmental amendments to relevant legislation in July 2022. PayPal: Foray In The Crypto Landscape PayPal, which has rapidly solidified its reputation as a crypto-friendly platform, introduced a notable addition to its offerings with the launch of its PayPal USD (PYUSD) stablecoin early this month. The company originally unveiled its foray into the cryptocurrency realm within the United States in late 2020, positioning itself as a key player in the ever-evolving landscape of financial technology. As the financial industry grapples with the ongoing integration of cryptocurrencies, PayPal’s response to regulatory changes highlights the evolving nature of the relationship between traditional financial platforms and the burgeoning world of digital currencies. While the company navigates these challenges, users and industry stakeholders alike are keenly observing how this temporary pause in cryptocurrency sales will shape the future of PayPal’s engagement with the crypto market within the UK. PayPal’s decision to temporarily suspend cryptocurrency sales in response to new FCA regulations underscores the complex interplay between regulatory developments and the cryptocurrency industry. As the company strives to align with evolving standards, the trajectory of its cryptocurrency ventures will continue to influence the broader financial landscape. Featured image from Francois Poirier/Shutterstock.com.

Partnership Delivers Web3 Artists Ongoing Brand and Marketing Support AUSTIN, Texas–(BUSINESS WIRE)–Howl.xyz, a premium communications agency that specializes in disruptive technology, today announced it’s working alongside Fair.xyz, a no-code platform that allows creators to launch end-to-end non-fungible tokens (NFT); secure, accessible and fair. Howl.xyz will provide hands-on marketing support, with Fair.xyz offering strategic advice to Web3 artists. The partnership equips rising Web3 artists with a seasoned marketing team to cultivate their individual brands – enabling artists to focus squarely on art creation. The 2022 Saatchi Report highlights that visual artists spend an estimated 31-40 hours per week creating art, and spend an additional 21-30 hours per week on marketing their work. To promote their art, creators sacrifice significant amounts of creative time to manage their websites, social media pages, and catalogs while also interfacing with galleries, NFT marketplaces, and launchpads. For Web3 artists, the brand development and engagement challenge is only more apparent, as the Web3 audience pool is smaller yet demands a far higher level of active engagement. Howl.xyz, working alongside Fair.xyz, is intent on helping artists cultivate their brands with holistic marketing support, technical guidance and strategic advisory – allowing artists to dedicate more time to their art. “At Howl.xyz, our core mission is to facilitate long-term Web3 ecosystem growth,” said Howl.xyz Co-Founder & CEO, Ivan Perez. “Artists in this space have the unique challenge of building their brand, identifying and growing an audience, actively engaging this audience, and producing consistent art that resonates. More often than not, this set of demands overwhelms artists. We’re working alongside Fair.xyz to streamline this process, and allow them the freedom to do more of what they love.” Studies indicate that nearly 75% of global art buyers leverage social media to discover and purchase art. However, as artists grapple with allocating time to creating art or promoting art, the ability to properly engage audiences suffers – impacting brand growth and overall art sales. Howl.xyz’s strategic alignment with Fair.xyz allows artists to grow their personal brands without diverting attention away from their art. Through Fair.xyz’s differentiated conditional mint parameters, artists can foster meaningful community growth as collectors fulfill specific engagement criteria. “We see first-hand how patrons judge artists for their works’ floor prices and social metrics,” said Bentata Chocron, Co-Founder of Fair.xyz. “Introverted and less promotional artists often suffer simply because their focus is more on creating and less on championing their accomplishments. Teaming up with Howl.xyz allows us to work with artists on a consistent basis to focus on their individual brand development so they can sustain their career growth. We hope working with Howl.xyz will eliminate several of the major difficulties in being a Web3 artist.” Brands or individuals looking for support can book a free 15 minute consultation with the team here. For more information about Howl services, visit: Howl.xyz. To stay up to date on the latest Howl.xyz developments, follow along on X: @tryhowl. ABOUT HOWL.XYZ Howl.xyz is a creative marketing communications and product studio. We specialize in NFT-based technologies, decentralized finance (DeFi), blockchain infrastructure, autonomous organizations (DAOs) and digital asset exchanges. Our approach combines a team of industry experts in arts and entertainment, SaaS, fintech, consumer products, and Web3 technologies. From inception to market, we help companies understand the innovative landscape, formulate strategy and deploy resources to bring ideas to life. Website | X | LinkedIn ABOUT FAIR.XYZ Fair.xyz is a trailblazing NFT creation platform, empowering the next generation of creators, artists, and brands and standing at the forefront of digital asset monetization. With over 800,000 individual NFTs minted on Fair.xyz, the platform has facilitated a remarkable $7M in fees directly benefiting its creators, with a staggering $45M in sales volume. Founded by a team of experienced engineers hailing from Meta, Instagram, and Goldman Sachs, Fair.xyz leverages their world-leading industry expertise to craft the finest consumer products in the realm of Web3. The ultimate goal is to create an unparalleled NFT launch experience that caters to both collectors and creators alike, positioning Fair.xyz as the go-to hub for NFTs, akin to the esteemed ‘Amazon Marketplace’ of Web3. Notably, Fair.xyz has recently partnered with the Ukrainian government to create the world’s first government-backed NFT, a testament to their collaboration with major institutions, brands, and global movements. This collaboration allows them to bring forth truly bespoke Web3 solutions, pushing the boundaries of what’s possible in this rapidly evolving landscape. Contacts Ben Noble e: [email protected] t: 1 (919) 721-3590

Coinglass data from just the previous hour shows significant market liquidation of $31.33 million. Bitcoin’s price has dropped below $28,000 for the first time in over two months. Stocks in the United States unexpectedly fell at the market close, with the technology-focused Nasdaq Composite leading the decline. The release of the Fed’s July meeting minutes affected market sentiment because they highlighted a rising worry among top officials about “upside inflation risks.” Fear of further interest rate rise dampened investor optimism on Thursday, sending the Bitcoin price to a two-month low. Bitcoin’s price has dropped below $28,000 for the first time in over two months. BTC’s relative stability throughout July is intriguing, especially in light of the recent dramatic drop. Overall Market Collapse Earlier, on August 14 the price spiked all the way to the $29.64K mark but failed to maintain momentum. After consolidating for a day on August 15, the downtrend gradually started, breaking key support levels. At the time of writing, Bitcoin (BTC) is trading at $27,854 and is down 4.40% in the last 24 hours as per data from CMC. Source: CoinMarketCap Moreover, Coinglass data from just the previous hour shows significant market liquidation of $31.33 million. The liquidation of Bitcoin was about $21.08 million, while Ethereum was at roughly $3.75 million. On the other hand, an important indicator of Bitcoin’s network’s security and processing power, the network’s hash rate, has broken over the 400 trillion hashes per second (Th/s) barrier for the first time. It’s true that Bitcoin’s value has dropped significantly, but other cryptocurrencies have fallen as well. Ethereum, BNB, and XRP are just some of the other big names that have had significant price drops, pointing to an overall market collapse.

Shiba Inu (SHIB), a dog-inspired meme coin, originally dismissed by many as just another fleeting fad, is now drawing serious attention from big players, or “whales,” in the crypto space. This attention comes amid the tokens’ recent sloppy launch of its other project, Shibarium. Blockchain security team Beosin recently reported that the newly deployed Shibarium platform has had transactions stalled in a pending state, tying up approximately 1,003 ether, equivalent to $1.8 million in locked funds. This sloppy launch has affected the SHIB token negatively seeing the tokens’ price decline by nearly 10% over the past 24 hours. However, despite this plunge whales are reportedly still making moves on Shiba Inu. Shiba Inu Whale Activity Surges According to Santiment, a prominent blockchain data firm, there has been a noticeable increase in transaction activity by whales across several digital currencies, including SHIB and XRP. Specifically, for Shiba Inu, the numbers are compelling. Santiment’s data shows that there’s been a surge in transfers of SHIB valued at $1 million or higher. According to Santiment, a possible reason for the increase in whale activity could be that these large investors are attempting to “capitalize on discount prices” of Shiba Inu and the other cryptocurrencies recording a surge in whale activity Furthermore, this uptick in activity closely follows significant events in the Shiba Inu ecosystem, particularly the mainnet launch of Shibarium, which could be another contributing factor. Shibarium represents a crucial advancement for the SHIB community and its broader ecosystem. And though its launch didn’t go as planned, its introduction likely plays a role in attracting these large investors and traders to SHIB, looking to capitalize on new opportunities brought about by the platform’s capabilities. SHIB Declines Nearly 10% In The Past Day Over the past 24 hours, Shiba Inu has been in red regardless of the surging whale activity. Particularly, the dog-inspired meme coin has recorded a loss of 9.9% over this period and with a current market price of $0.0000087, at the time of writing. This plunge is also reflected in the asset’s market capitalization which has seen a substantial loss of more than $600 million in the past day. Interestingly, despite the blood bath, Shiba Inu’s daily trading volume has remained resilient. Over the past day, SHIB’s trading volume has hovered above $450 million and currently stands at a value of $461 million at the time of writing. Featured image from Unsplash, Chart from TradingView

Dexalot, a central limit order book (CLOB) decentralized exchange (DEX) based on an Avalanche Subnet, will receive up to $3 million in AVAX tokens from the Avalanche Foundation. The incentives are provided by Avalanche Multiverse, a comprehensive initiative supporting the development and adoption of the Avalanche Subnet. In February, Dexalot’s Subnet was launched, giving traders of digital assets increased speed, throughput, and time-to-finality. Dexalot seeks to provide users with the ability to make orders at certain price levels (limit orders), potentially offering a CLOB experience that is distinct from that of other DEXes. Users may see orders forthrightly using Dexalot, and fair matching may even eliminate trading bots’ speed advantage. Dexalot aims to provide consumers with better liquidity, more transparency, and less slippage. The current Dexalot Incentive Program will be used to distribute Avalanche Multiverse funds over a 12-month period beginning this autumn. As the Dexalot Subnet achieves new milestones, the Multiverse funds will be allocated in accordance. Dexalot’s Subnet has handled more than 12 million transactions since its debut. In order to hasten the expansion of Subnets, the Avalanche Foundation introduced Avalanche Multiverse in March 2022. A diverse ecosystem of scalable app-specific blockchains, like Dexalot, is made possible through subnets. The initiative has concentrated on enabling new ecosystems, such as institutional use cases, DeFi, NFTs, and blockchain gaming. Dexalot exemplifies the potential of Avalanche, much like other initiatives that have benefited from funding from the Avalanche Foundation, such as the decentralized spot and perpetual market GMX, which recently released V2. Dexalot’s innovative design in particular demonstrates the possibilities of developing on custom Avalanche Subnets catered to a new dApp’s specific requirements. This article is based on content supplied by Dexalot. Go to the Dexalot website for additional details. With no representation, warranty, or other guarantee of any kind; just for informative purposes. None of this is intended as investment or financial advice, nor is it endorsed by Ava Labs, Inc., the Avalanche Foundation Limited, or any of their respective subsidiaries or affiliates. To fully assess the risks and advantages of any project, please read this Notice and do your own study.

Charles Hoskinson engages critic doubting Cardano development roadmap on social media. Hoskinson refutes claims Hydra being abandoned, says it and Mithril actively evolving. Dismisses attacker as “maxi mind” jealous of Cardano’s progress despite Ethereum limitations. Charles Hoskinson, founder of blockchain platform Cardano, recently engaged with an online detractor who criticized the network’s development roadmap. In a series of posts, Hoskinson defended Cardano’s ongoing work on key upgrades like Hydra and Mithril. The interaction occurred on social media platform X, where a user made several predictions meant to undermine Cardano’s technical direction. They speculated that Hoskinson would soon abandon work on scaling solution Hydra while pivoting to other tools like input endorsers. Cardano’s Hoskinson defends Hydra However, Hoskinson firmly rejected this, stating that both Hydra and Mithril are actively being implemented and improved. He specifically cited Hydra’s mainnet launch and Mitrhil’s role in enabling light clients and delegation mechanisms. The critic also accused Hoskinson of copying Ethereum, a platform he co-founded, while harboring animosity toward the project. In response, Hoskinson pointed out Ethereum’s own limitations around consensus and programming that Cardano aims to solve. “We are living rent free in the maxi minds. I pity them,” concluded Hoskinson, referring to extremists who zealously favor one blockchain above all others. The heated but relatively civil debate exemplifies how Hoskinson actively engages with Cardano supporters and detractors alike via social media. Fans appreciate his transparency and commitment to rational dialogue. However, Hoskinson’s direct style can be off-putting to some. Either way, Cardano’s growing community of developers and users continues steadily building out the network, cementing its status as a top blockchain protocol.

Republic, a pioneer in digital finance, has informed its more than three million members worldwide of the debut of its fully integrated digital wallet. The capacity to invest in, trade, and securely manage Republic investment offers, including tokenized securities, tokenized real-world assets, and more, will be made possible through Republic Wallet. The following advantages are now accessible with Republic Wallet, which is created to serve as the central point of each Republic community member’s experience investing in digital assets: Smooth integration: Republic Wallet acts as the hub for taking part in token sales on Republic, enabling the direct transfer and safe storage of digital assets. Investors may monitor their owed (off-chain) and received (on-chain) asset balances in one unified interface thanks to the integration of Republic Wallet with the Republic product experience, which spares them from having to create and manage other wallets in order to receive their assets. Multi-chain capability: Republic Wallet has to be designed for versatility given the range of investment options Republic offers. Its enhanced functionality, which enables the management of a range of digital assets inside a single, secure platform, was designed to accommodate numerous blockchains. With Bitcoin, Polygon, and other digital assets likely to be supported, Republic Wallet now supports digital assets on Ethereum, Avalanche, and Algorand. Strong security: Republic Wallet has been put through extensive testing by Quantstamp, a reputable smart contract auditing company. Republic Wallet will provide multi-party computation to improve private key management by safely dividing, encrypting, and distributing private keys across several parties in order to add an additional layer of investor security. Simple layout: Republic Wallet’s user experience and interface were created to seem natural to individuals who have never dealt with cryptocurrencies before, ensuring accessibility to investors of all skill levels. Users will be able to confidently explore and conduct transactions using Republic Wallet after completing a straightforward onboarding sequence and storing their private keys. The roadmap for Republic Wallet intends to expand upon this significant component of the Republic ecosystem. The wallet will first be used by the 5,000+ holders of the Republic Note, the company’s digital security in order to receive and manage their assets. Investors in Republic will eventually be able to receive staking rewards by giving the company’s validators direct access to their digital assets using Republic Wallet. Additionally, it will combine with their expertise in investing in the secondary market, enabling users of Republic Wallet to effectively trade private assets. The global tokenization market might exceed $24 trillion in financial assets by 2027, driven in part by rising private market demand from retail investors. In light of this, Republic Wallet’s debut is an important step in the company’s larger efforts to develop web3-enabled solutions that contribute to the worldwide democratization of private investment.

PayPal has taken another step in its crypto mission following a team-up with hardware wallet provider Ledger. This time around, the payments giant is making it possible for users to purchase crypto directly without the need for extra verifications. Ledger Live Integration With Paypal On August 16, Ledger and PaPal announced an integration to make buying cryptocurrencies easier. This feature will allow users to purchase crypto using PayPal directly from the Ledger Live app. Chairman and CEO Pascal Gauthier of Ledger made a statement about integrating Ledger Live with Paypal to make crypto transactions easier. “Both PayPal and Ledger are focused on creating secure, seamless, and fast transactions no matter where you are in the world. PayPal,” Gauthier said. “We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions.” Ledger Live’s integration with Paypal currently offers four cryptocurrencies in the US, such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), and this will allow US residents to be able to purchase these cryptocurrencies with their verified Paypal accounts with no extra verification required. What makes this integration so interesting is that no “withdrawal” process needs to be initiated by a user. All the crypto purchases made through Paypal via Ledger Live are immediately sent to the user’s wallet, according to the announcement. Ledger Live’s integration with Paypal is indeed a significant step in the financial tech world, as the two giants share a similar vision of creating fast and seamless transactions on a universal scale. Ledger is one of the most notable hardware wallet manufacturers, recording over 6 million Ledger Nano hardware wallet sales all around the world since 2016. Also, Ledger launched its Tradelink service in 2023 that will enable “off-exchange trading, enhanced security, distribution of risk, zero transaction fees, and a more efficient and faster trading” for institutional investors. Paypal’s interest in the crypto world is by no means new. On August 7, Paypal made an announcement to launch its own Ethereum-based stablecoin called PYUSD. However, nothing was said about PYUSD being listed as one of the coins that will be available on the Ledger Live just yet. PYUSD’s launch has not been smooth either with regulators calling for more oversight following the launch. Last week, US congresswoman Maxine Waters called for federal oversight and enforcement of PayPal after launching the stablecoin. PayPal also revealed plans to allow select customers to purchase cryptocurrencies such as Bitcoin and Ethereum using PYUSD. However, amid the new UK regulatory system that will come into play on October 8, Paypal plans to temporarily pause the buying of cryptocurrencies in the country from October 1 to resume crypto services in the Q1 of 2024.

Bitcoin has plunged toward the $28,500 mark during the past day, which happens to be quite near a historically significant support line. Bitcoin Is Now Near The Short-Term Holder Realized Price As pointed out by an analyst in a CryptoQuant post, BTC’s latest drawdown has brought it near the realized price of the short-term holders. The “realized price” here refers to a metric that’s derived from the “realized cap” model of Bitcoin. The realized cap calculates the total valuation of the asset by assuming that the actual value of any coin in circulation is not the current spot price, but the price at which the coin was last transacted on the chain. Since the last transfer price of any coin is likely to represent its buying price, this model accounts for the prices that each investor in the market bought their coins, and hence, the realized cap may be looked at as a measure of the total capital that holders have put into the cryptocurrency. When this model is divided by the total number of coins in circulation, the average cost basis or acquisition price in the market is obtained. This is precisely what the realized price is. If the Bitcoin spot price goes below this indicator, it means that the average investor has gone underwater. Similarly, breaks above the metric signify a return to profits for the majority of the market. The realized price can also be defined for specific segments of the market. In the context of the current discussion, one part of the market is of relevance: the “short-term holders” (STHs). Here is a chart that shows the trend in the Bitcoin realized price for this cohort: The STHs include all investors who bought their coins within the last 155 days. The holders that pass beyond this threshold are termed “long-term holders” (LTHs). From the chart, it’s visible that with the latest decline, the Bitcoin spot price has come very close to the STH realized price. This would suggest that these investors as a whole are about breaking even on their investment currently. In the chart, the quant has highlighted how previous retests of this line have gone in this year so far. Interestingly, both back in March and June, the cryptocurrency found support at this metric and observed a sharp rebound. This is a trend that has historically been seen during bullish periods. The reason behind this curious pattern may perhaps be the fact that the STHs look at their cost basis as a profitable point for accumulating more of the asset in such periods, as they believe that the price would only go up in the near future. The extraordinary buying pressure at the line may be why the asset finds support at this level as well. This is because the opposite happens during bearish periods, as holders look to escape the market at their break-even point. It now remains to be seen how Bitcoin’s interaction with the STH realized price will go this time around. Naturally, a successful retest would be a positive sign for the rally, as it would show that these investors haven’t yet lost their bullish conviction in the coin. BTC Price At the time of writing, Bitcoin is trading around $28,500, down 3% in the last week.

Binance to delist LTC/BUSD and DOGE/BUSD perpetual futures contracts on August 24th. Interim leverage limit reduced to 10x ahead of delisting. Part of broader removal of BUSD-tied offerings. Seen as preemptive measure amid heightened regulatory pressure on the exchange from agencies like SEC. Binance, the largest global cryptocurrency exchange, recently announced it will delist two popular trading pairs involving Litecoin (LTC) and Dogecoin (DOGE) starting August 24th. The pairs in question are LTC/BUSD and DOGE/BUSD perpetual futures contracts. These derivatives allow traders to speculate on the future price of Litecoin and Dogecoin against Binance’s stablecoin BUSD with leverage of up to 125x. However, in the interim period before the delisting, Binance has already slashed the maximum leverage limit on these contracts to 10x. This impacts all open positions, not just new trades. The removal of select perpetual futures pairs is part of a broader trend on Binance to pare back offerings tied to its proprietary BUSD stablecoin. Binance has also distanced itself from tokens facing increased regulatory scrutiny, like Cardano. Analysts predict Binance’s decision is a follow-up of SEC’s scrutiny Some analysts speculate these restructuring efforts are a reaction to the heightened pressure Binance is facing from agencies like the Department of Justice and SEC. The exchange is currently embroiled in various investigations and lawsuits related to allegations of market manipulation and more. Most recently, Binance petitioned a court to limit the SEC’s questioning of witnesses to matters directly relevant to an insider trading case. The request was forwarded to a magistrate judge for review. While the delisting may frustrate traders who have come to rely on these popular contracts, Binance asserts that periodically reevaluating its product lineup is crucial to maintaining regulatory compliance and user security. However, only time will tell whether the latest removals are isolated or part of a more extensive exchange overhaul.

An anonymous Bitcoin wallet holding 1,005 BTC recently woke up after 13 years of dormancy. This dormant wallet was one of the earliest Bitcoin wallets created, having received its first 1,000 BTC transaction in November 2010, just a little over a year after the Bitcoin mainnet launched. During this time of Bitcoin’s humble beginnings, its price never even broke above $0.20. However, the recent reactivation of this wallet has sparked speculation of whether a massive sell-off of the coins could be incoming. Cold Storage Just Turned Hot Reactivation of old and dormant wallets containing massive amounts like this often sparks speculation about who controls them, especially as dormant wallets get reactivated from time to time. 2023, in particular, has witnessed a high number of these Bitcoin wallets coming back to life. According to the Spent Output Age Bands (SOAB) indicator, the number of bitcoins that are between 7 and 10 years old has demonstrated an exceptionally significant increase in the most recent months. Using the SOAB indicator, investors are able to determine the age of Bitcoins currently available on the market as the lifespan of bitcoins is broken down into distinct ages. Kirill Kretov, a developer who specializes in the creation of automated trading programs, believes that the reactivation may have been carried out by the same entity. Considering its age, some Bitcoin investors also suggest this wallet might belong to Satoshi Nakamoto himself. However, this case would be very unlikely, as nobody knows who the Bitcoin creator actually is. Bitcoin Selling Pressure Incoming? On-chain data shows that the last transaction on this wallet was in April 2011, where it received 5 BTC. Data from Coinmarketcap shows that the price of Bitcoin at this time was around $1.99. However, due to the consistent growth of Bitcoin over the last decade, the owner of this wallet now has over $29 million worth of Bitcoin at their disposal at the current BTC/USD exchange rates. This represents a gain of over 8.8 million percent from the wallet’s last transaction. This move could be bearish though if they decided to sell all of their holdings, it could introduce a fair amount of selling pressure on Bitcoin and cause the price to drop, at least temporarily. However, the owner has only moved the BTC to another wallet and not an exchange, suggesting they are more interested in HODLing – the option least likely to impact the market since the BTC would remain dormant. At the time of writing, bitcoin is trading at $28,501, down 2.24% in the last day.

The price of Bitcoin is finally on the move after weeks of being stuck in a tight trading range. The number one cryptocurrency by market cap stands at support with the potential for another re-test of the lows if bulls cannot push it higher. As of this writing, Bitcoin trades at $28,500 with a 2% loss in the past 24 hours. Over the previous week, the cryptocurrency recorded a 3% loss, while other assets in the top 10 underperformed and trended lower. The nascent industry could be a short-term crossroads. Bitcoin Price Loses $29,000 Level, But A Recovery Is Likely? As NewsBTC has been reporting, Bitcoin’s volatility reached a multi-year low after all major narratives previously influencing it diminished its strength. Now, the spike in volatility favored the downside, but how much pressure can the bears exercise? According to a CryptoQuant analyst, the recent price action marks one of the highest in recent months. As seen in the chart below, the last time that Bitcoin saw similar selling pressure was in late July. The analyst stated: As seen in the chart above, the price of Bitcoin bounced back from support each time that sellers pushed into the current levels, as measured by the Net Taker Volume. However, sellers could still push the metric into the July 15th levels and induce a capitulation event. There is some evidence to support the above. The chart below shows that BTC’s long positions have fueled the downside price action by providing liquidity and accelerating the fall. If this continues, Bitcoin could continue trending downwards into the liquidity pool created by long positions at $27,000 and $24,700 if bulls give it. On the latter, crypto analytics firm Material Indicators noted: Cover image from Unsplash, chart from Tradingview

Within the dynamic cryptocurrency environment, THORChain (RUNE) has emerged as a notable altcoin, capturing the interest of investors who are actively pursuing methods to augment the diversification of their investment portfolios. In conjunction with the established entities such as Bitcoin and Ethereum, the cryptocurrency market has experienced significant growth with a diverse range of alternative coins, each presenting unique attributes and prospective prospects. Altcoins, which comprise a diverse array of technological advancements, application cases, and governance frameworks, provide investors a wide range of options to consider. THORChain Emits Force In The Weekly Chart THORChain (RUNE), renowned for its cross-chain liquidity mechanism, has garnered significant attention this week due to a different factor. According to statistics from Coingecko, THORChain is currently priced at $1.54, reflecting an increase of 50% over the past seven days. However, it has had a decline of 3.7% within the last 24 hours. The boost in price can be attributed to a concurrent rise in the social volume of the THORChain cryptocurrency. According to data from Coincodex, there was a significant increase in social volume, exceeding 4,300%, during the period from August 7 to 13. The price of RUNE has exhibited a bullish trend since the middle of June. However, this upward movement was interrupted when the price above the $1 threshold and subsequently began to undergo a retracement. The price of the cryptocurrency established a support level at $0.92 following a significant decline, then initiating a bullish recovery to surpass the prominent psychological threshold of $1. In the preceding month, the cryptocurrency had a notable increase of 30%, while also exhibiting a 5% rise since the commencement of the year 2023. Nevertheless, the performance of the subject over an extended period of time presents a more pessimistic portrayal. Over the course of the previous four quarters, there was a significant decline of around 50% in the value of the coin, suggesting the presence of inherent instability. Moreover, the cryptocurrency has experienced a significant decline of 94% from its peak value of $20.87 in May 2021, highlighting the fundamental instability of the cryptocurrency market. RUNE Faces Resistance At $1.55 Although there have been recent positive developments that may be encouraging for investors with short-term goals, the overall trend indicates that there have been challenges over longer time periods. The significant declines observed in the past year, as well as from the highest point, underscore the precarious nature of cryptocurrency investments. This necessitates a careful evaluation of their long-term viability within a dynamic market environment. At present, the RUNE token is undergoing a phase of surpassing the significant resistance level of $1.55, which has persisted for an extended period of time. This particular domain holds significant importance as it has alternately functioned as both a point of opposition and reinforcement from the onset of the year 2021. Hence, the act of closing above it will serve as a significant indication of a positive trend, thereby reinforcing the bullish readings observed on the daily timescale. As the liquidity mechanism for THORChain may develop over the next few months, cryptocurrency experts anticipate even further price hikes for the platform. Additionally, 14 new nodes are prepared to join the THORChain network, according to CoinCodex. (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 Asia Crypto Today

Case Study: Bridging the Web2 & Web3 Funnel Divide with PerxPal & FLOLiO’s Advanced Attribution Tracking for Enhanced Marketing Strategies NEW YORK–(BUSINESS WIRE)–The landscape of online marketing is undergoing a rapid transformation as the Web3 world gains momentum. With this shift, new challenges emerge for companies seeking to track attribution for both on-chain and off-chain actions. In response to these challenges, FLOLiO, a trailblazer in web3, and PerxPal, a platform offering CashBack and Crypto rewards for shopping top brands, have joined forces to bridge the attribution gap and unlock new dimensions of marketing success. PerxPal’s use case was all set to launch a dynamic mix of paid campaigns, including Google Ads, in-app rewards, influencer-powered social posts, and buzz-worthy press releases. To navigate this Web2 & Web3 fusion effectively, the team at FLOLiO integrated their cutting-edge attribution tracking and performance marketing stack into PerxPal’s operations. The integration enabled PerxPal to gain unprecedented visibility into the efficacy of their paid and organic marketing initiatives. The team could monitor site-wide Key Performance Indicators, analyze real-time campaign insights, and optimize Web3 outreach. This data-driven approach propelled PerxPal’s growth trajectory as they successfully drove traffic to the site, with users spending an impressive average of ~2.5 minutes exploring ~3 pages per visit. The power of accurate attribution tracking was harnessed to monitor new user sign-ups, traffic sources, device preferences, and user interactions. This deep understanding allowed PerxPal to make data-driven improvements, resulting in increased user engagement and overall satisfaction. In addition, FLOLiO’s attribution tracking technology facilitated seamless tracking of Web3 users who connected their wallets to enjoy extra “Perx” while shopping top brands. This feature is PerxPal’s first attempt to bridge the gap between mainstream Web2 brands and emerging Web3 communities. “PerxPal’s success story demonstrates the transformative potential of integrating Web2 and Web3 marketing strategies,” says Mikhail Reznik, CFO of FLOLiO. “With our cutting-edge attribution tracking, we empower projects to become new types of marketers in the Web3 landscape.” Embracing the AI revolution, FLOLiO also offers its clients CLiO, a personal AI assistant designed to facilitate seamless communication with their dashboard of data, charts, CPAs, conversions, etc. With CLiO’s ability to provide easily understood insights on high volume figures or specific funnel drop-offs, to name a few, clients can sharpen their marketing efforts in real-time, and utilize this unique view of their data to create actionable next steps on how to best optimize the effective campaigns, and taper off the ineffective efforts. FLOLiO’s advanced attribution tracking technology opens up new opportunities for projects to enhance user behavior insights, optimize conversion rates, and elevate marketing strategies to new heights. This precision in data analysis, backed by the power of AI, propels projects towards success. If you’re eager to unlock the full potential of your project and explore how FLOLiO can revolutionize your journey, don’t hesitate to reach out to the team at https://flolio.com/contact. About FLOLiO FLOLiO is a trailblazer in web3, delivering innovative solutions that bridge the gap between web2 and web3. With cutting-edge attribution tracking technology and advanced AI solutions like CLiO, FLOLiO empowers projects to optimize their marketing strategies and achieve unprecedented levels of success. Learn more at flolio.com. Contacts Kevin Shannon [email protected]

Scammers have targeted the Shiba Inu community by creating fake Shibarium Token and deceptive airdrops. The pseudo SHIBARIUM token climbed over 25% in the last 24 hours. In an unsettling development that has sent shockwaves through the crypto space, scammers have set their eyes on the Shiba Inu community, leveraging their fraudulent tactics to create a fake “SHIBARIUM” token. This malicious action occurred following the launch of the much-awaited layer-2 solution. The scam was first uncovered when a tweet from PeckShieldAlert exposed the nefarious activities of the scammers. Reportedly, the malicious actors forge a fake version of the Blur cryptocurrency. Their strategy involved deploying this Blur token on leading platforms including Coinbase, Justin Sun, and Yuga Labs. Further, the scammers distributed these BLUR tokens to wallets associated with Yuga Labs, Justin Sun, and Coinbase. Their goal was clear: to mislead recipients into believing that the fraudulent tokens were legitimately connected to Blur’s ongoing airdrop. Pseudo Shibarium Token The scammers turned their attention to another popular project within the crypto community, SHIBARIUM. The timing of their actions coincided with an announcement by Shytoshi Kusama, the lead developer of Shiba Inu, who revealed the highly-anticipated Shibarium on August 16th. Shytoshi Kusama’s disclosure was set to be accompanied by a series of informative articles about the new L2 network. It seems that the scammers seized this moment to exploit the growing interest and excitement surrounding SHIBARIUM. Shibarium Token (SHIBARIUM) Price Chart (Source: CoinMarketCap) Unsurprisingly, the scammers’ tactics yielded significant gains for the pseudo SHIBARIUM token. Following the launch, SHIBARIUM quickly made waves, trading at $0.02537 at the time of writing. Also, its 24-hour trading volume surged to $3.65 million, showcasing the substantial market interest in the fraudulent token. In an alarming turn of events, SHIBARIUM’s price climbed by 251% within just 24 hours, with a staggering rally of 1622% over a mere three-day period.

With a three-year record revenue growth of 300%, 10Pearls ranks among America’s Fastest-Growing Private Companies WASHINGTON–(BUSINESS WIRE)–Inc. revealed today that 10Pearls ranks No. 1871 on the 2023 Inc. 5000 list of America’s Fastest-Growing Private Companies. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000. Over the last 3 years, 10Pearls has reported a record 300% revenue growth, increased its headcount globally to more than 1,500 subject matter experts, made several key strategic acquisitions, and expanded its geographic footprint. 10Pearls has opened up offices in London, and expanded delivery offices in Colombia, Costa Rica and Peru within the Latin American region. This award follows a number of accolades for 10Pearls, including its CEO winning EY Entrepreneur of the Year Award and ranking no. 62 on Inc Regional Mid-Atlantic Fastest-Growing Private Companies. “10Pearls continues to excel at delivering quality at scale globally through all facets of strategy, design, and implementation,” said Imran Aftab, CEO of 10Pearls. “Our success is attributed to our domain expertise in key verticals – healthcare, financial services, telecommunications, and strategic investments in Artificial Intelligence and Machine Learning to help clients build future-ready digital properties.” The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,186,006 jobs to the economy over the past three years. For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23. About 10Pearls 10Pearls is a global, purpose-driven digital technology partner helping businesses re-imagine, digitalize ‎and accelerate. As an end-to-end digital partner, 10Pearls helps businesses create transformative ‎digital products incorporating exponential tech (AI/ML, Blockchain, IoT, AR/VR). Our broad expertise in ‎product management, user experience/design, cloud architecture, software development, data insights ‎and intelligence, cybersecurity, emerging tech, and quality assurance ensures that we deliver solutions ‎that address business needs. 10Pearls’ clients include Global 2000 enterprises, high-growth mid-size ‎businesses, and some of the most exciting start-ups across several industries, including healthcare, financial services, ‎energy, education, real estate, retail and hi-tech. ‎Headquartered in the Washington DC metro area, 10Pearls has delivery centers in North America, Latin America, Europe, and South Asia. The ‎Washington Post has referred to 10Pearls as a double-bottom-line company that balances profits with ‎a social cause. To learn more about 10Pearls, visit https://10pearls.com. Methodology Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. About Inc. Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com. For more information on the Inc. 5000 Conference & Gala, slated for October 31 – November 2 in San Antonio, visit http://conference.inc.com/. Contacts Gerlynn Ha Marketing Manager [email protected] +1 202.807.9590

A recent study by the Bank of Canada (BoC) revealed that crypto ownership in the country had slowed over the past two years. However, recent sentiment from Coinbase’s Country Director for Canada, Lucas Matheson, suggests Canadians are slowly warming up to crypto again. Canadians Adopting Crypto Payments In a conversation with Cointelegraph, Matheson mentioned that Canadians’ outlook towards digital assets is changing as they adopt it to make daily transactions. This means that crypto in the country is garnering mass adoption as service providers and consumers are using it to facilitate payment of goods and services. Furthermore, Matheson believes that more daily use cases will arise that will be “digital asset-backed.” This belief could stem from the fact that the tokenized industry is rapidly growing with many real-world assets (RWA) being brought on-chain. Many industries are expected to be disrupted with the help of blockchain technology and non-fungible tokens (NFTs). The E-commerce industry is one that Matheson has singled out to be significantly impacted by NFTs. He said the major use case would be “phygital” items, where fashion brands create the tokenized version of their physical products. Popular brands like Nike and Lacoste are known to have ventured into the metaverse with the introduction of their tokenized wear. Coinbase And Key Regulations Integral Matheson emphasized the importance of regulatory certainty and how Coinbase is contributing to the crypto industry’s growth in Canada. According to him, the crypto exchange was working closely with the Canadian authorities to build trust and help them understand the role of digital assets in building a sustainable economy. Coinbase officially launched in the Canadian market on August 14. The company announced that it had partnered with local banks and payment platforms to ensure easy fiat on-ramp and make crypto more accessible to Canadians. Furthermore, Coinbase rolled out its Interac payment rails to enable local users “seamlessly deposit and withdraw funds (CAD) to and from their Coinbase wallets…” Meanwhile, Canada’s lawmakers have shown commitment to backing the crypto industry in the country by providing regulatory certainty to stakeholders in the industry. In June, the Canadian House of Commons Parliamentary Standing Committee on Industry and Technology published a report highlighting the positive impacts blockchain technology could have on the economy and the need to provide regulatory clarity and protect the interests of consumers. The report also proposed an innovative regulatory approach for cryptocurrencies, emphasizing how Canada could become a leader in the crypto economy. With such efforts from Coinbase accompanied by regulatory certainty, Crypto adoption is bound to grow. Interestingly, the Ontario Securities Commission (OSC) claims that over 30% of Canadians plan to buy crypto by 2024.

Binance and Ferencváros unite for innovative blockchain-driven fan engagement. The club’s Groupama Arena stadium will feature Binance branding. Binance, a leading cryptocurrency exchange, has announced a partnership with Hungary’s premier football club, Ferencváros, a club with an illustrious history in Hungarian football. This collaboration is aimed at enhancing fan engagement through the utilization of non-fungible tokens (NFTs) and blockchain technology. And seeks to educate sports enthusiasts about the potential of Web3. According to their announcement, Ferencváros supporters will receive limited-edition NFTs during home league games. It is accessible to existing users and newcomers signing up on Binance.com. These exclusive digital collectibles allow fans to trade for sought-after merchandise like scarves, T-shirts, and jerseys while accruing a certain quantity of NFTs will also entitle them to club-related rewards, potentially enhancing their bond with Fradi. Moreover, The Groupama Arena, the iconic stadium of Ferencváros, will feature Binance branding on LED perimeters and large screens during home fixtures. This collaboration received a warm reception as the intersection of sports and technology converges. Anticipated to make a lasting impact on football and the digital asset landscape.