Solana (SOL) has managed to shake off recent price dips, rekindling bullish optimism among investors. This resurgence comes on the heels of a determined effort by sellers to flip the altcoin’s trajectory bearish, following a price rejection at the critical $29 resistance level. However, SOL’s retreat from this resistance proved to be a strategic move as it found support in the bullish order block (OB) at $22, setting the stage for a renewed uptrend. SOL’s journey from the formidable $29 price mark to the bullish order block at $22 was pivotal. A recent price analysis has underscored the importance of this OB as a key level for the altcoin’s potential reversal of fortunes. With a long-term perspective in mind, Solana’s ability to rally from this OB demonstrates the resolve of buyers to reclaim control. This recovery has not only bolstered sentiment but also signified the strategic importance of this price juncture in steering the trend. BTC’s Influence On SOL’s Trajectory One notable factor underpinning Solana’s current narrative is the role of Bitcoin (BTC), the flagship cryptocurrency. As SOL seeks to flip the $25.3 resistance level into a supportive base for further gains, its success may very well depend on the continued bullish advance of Bitcoin. The interplay between these two prominent cryptocurrencies remains a significant aspect to monitor, as BTC’s trajectory often influences the broader altcoin market sentiment. At present, Solana stands at a price of $24.50, as per CoinGecko data. Despite a slight decline of 1.0% over the last 24 hours, the altcoin has showcased a commendable seven-day rally of 8.8%, indicative of its capacity to rebound from adversities. However, a notable challenge emerges as SOL inches closer to the $25.7 mark. The impending supply pressure at this level could potentially stall the upward momentum, prompting a sideways trend and leading to a consolidation phase. Solana: Clearing The Path Forward Should the SOL price encounter intensified supply pressure around the $25.7 threshold, a distinct possibility is the emergence of a narrow price range during trading sessions. This consolidation phase, while seemingly a temporary lull, may serve a vital purpose. By trimming away weaker positions, this period could pave the way for a definitive directional movement. The shedding of less robust positions would ideally set the stage for a more sustainable bullish advance, as the altcoin continues its journey to reclaim lost ground. As the altcoin navigates potential consolidation, investors are watching closely, anticipating the emergence of a clearer path forward in this dynamic crypto landscape. (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 Ana Silva/Getty Images

In the ever-evolving landscape of finance and investments, BG Trade has emerged as a trailblazing platform that reshapes real-world assets (RWA) issuance and trading. The company’s innovative approach introduces a groundbreaking concept known as the “Meta-Asset Bridge,” a revolutionary gateway that unifies an array of assets, including stocks, bonds, commodities, and cryptocurrencies. This integration offers investors a seamless and dynamic pathway for multi-dimensional asset investments. The centerpiece of BG Trade’s ecosystem is its platform token, BGT, which is set to achieve a significant milestone. BGT is poised for listing on two prominent exchanges, Gate IO and MEXC, scheduled for August 16th. This strategic move not only enhances the token’s accessibility but also underscores the platform’s growing prominence in the market. In addition to the exchange listings, BG Trade is gearing up for another milestone – the launch of its Initial DEX Offering (IDO) on Sunday, August 13th. This eagerly anticipated event marks an exciting opportunity for the community to be part of BG Trade’s journey and contribute to its vision of reshaping the RWA landscape. Unveiling the Features and Services Enhancing RWA Trading BG Trade’s dedication to innovation extends beyond its token listings and IDO debut. The platform offers a comprehensive suite of features and services meticulously designed to enhance the RWA trading experience. These include: Launchpad: A strategic launching platform for new projects, providing a spotlight for innovative ideas and ventures within the RWA space. Asset Swap: Seamlessly exchange one asset for another, enhancing liquidity and flexibility for investors seeking diverse asset exposure. OTC Trading: Facilitates large-scale asset trading outside traditional exchanges, enabling smooth execution for substantial transactions. Staking: Empowers token holders to earn rewards by participating in the platform’s staking mechanism, fostering community engagement. ZkDID Identity System: Ensures privacy and security by implementing Zero-Knowledge Decentralized Identifiers for participants in the ecosystem. Ve-Governance: Empowers the community to actively participate in decision-making processes through a robust and inclusive governance model. A Glimpse Into the Future Looking ahead, BG Trade has an ambitious roadmap that outlines its commitment to further innovation and expansion. The upcoming launch of the zkDID identity system promises enhanced security and user-centric solutions. The DAO community’s exploration of the ve-governance model demonstrates BG Trade’s dedication to fostering a democratic and transparent ecosystem. The future also holds exciting prospects for BG Trade, including developing digital bonds, indices, commodities, and ETF business models. As the platform’s BGT Dapp begins to go live, users can expect enhanced accessibility and functionality, solidifying BG Trade’s position as a leader in the RWA landscape. Join the BG Trade Revolution Over the recent months, the BGTrade community has experienced remarkable expansion. The count of BGT holders now exceeds 19,000, with the combined OTC trading volume within the community surpassing $43 million. Additionally, the total BGT staked has reached a milestone of over 54 million. These impressive accomplishments showcase the community’s substantial role in shaping BG Trade’s RWA track and driving its development. BG Trade’s journey is marked by innovation, community engagement, and a relentless pursuit of redefining possibilities in the world of real-world assets. With the imminent exchange listings, the upcoming IDO, and a visionary roadmap, BG Trade invites investors, enthusiasts, and stakeholders to be part of a transformative movement reshaping finance’s future. For more information and updates, please visit: Website: https://www.bgtrade.io Medium: https://medium.com/@BG_Trade Twitter: https://twitter.com/BGTrade_ Discord: https://discord.gg/bgtrade Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Cardano (ADA) recently managed to inch up by 1% on the weekly charts, demonstrating resilience amidst the ongoing volatility. On the other hand, a more audacious contender, Pomerdoge (POMD), is generating significant buzz. In fact, some experts whisper of an impending price pump that could bring Pomerdoge to the next level. Cardano shows green weekly price charts AnetaBTC announces the start of Cardano’s mainnet operations Pomerdoge to experience a 17x surge before its presale finishes Click Here To Find Out More About The Pomerdoge (POMD) Presale Cardano (ADA) and Its Steady Climb Cardano (ADA) has long been a favorite among crypto enthusiasts for its commitment to scalability and sustainability. As the Cardano price experienced a 1% uptick on the weekly charts, it reaffirmed its ability to weather market turbulence. In recent Cardano news, AnetaBTC has proudly announced the start of Cardano’s long-awaited mainnet operations, marking a considerable advancement. After the ADA blockchain’s successful public testnet release earlier in April, anetaBTC seeks to ignite Cardano’s DeFi potential by injecting it with on-chain wrapped BTC. The launch of the mainnet is important for Cardano as it sets out on a mission to include Bitcoin liquidity via the cBTC asset. Now, the Cardano price sits at $0.2984 with a market cap of $10.4B. With its moving averages also showing buy signals, many experts remain bullish about its long-term growth potential. Thus, they forecast a $0.37 price point by December 2023. Pomerdoge (POMD): Beyond the Hype In a market characterized by rapid shifts, new contenders are constantly vying for attention, and Pomerdoge (POMD) is the latest star on the horizon, promising more than just a cryptocurrency. Pomerdoge represents a P2E game that taps into the gaming world’s immense potential as over 3B individuals spend time on online games. With Pomerdoge, players can build and shape their characters into elite figures within the game’s dynamic world. The allure of customization beckons, as players can craft unique items and outfits, allowing them to express their individuality and style. However, the journey doesn’t end there. As players progress and attain the coveted gold status Pomer, a new realm of possibilities opens up. This elite status grants access to the Pomerplace, a marketplace within the game where players can trade an array of skins. This innovative feature also introduces a dynamic economic ecosystem where the virtual treasures collected can translate into tangible rewards. At the core of this game lies the POMD native token, now worth just $0.008. In addition, it is in Phase One of its presale. In other words, this price will increase as the presale picks up steam. With access to an exclusive 7,777 NFT collection for POMD holders, buyers are flooding the presale. As a matter of fact, demand is so high that experts forecast a 17x jump before it ends. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge

ApeCoin (APE) price surged more than 8.5% in the last 24 hours. The price APE is above the 50-day EMA, signaling a positive trend. ApeCoin (APE), the meme-inspired cryptocurrency, has managed to buck the prevailing bearish trend in the crypto market by soaring over 8.5% in the past 24 hours. While major cryptocurrencies are grappling with losses, ApeCoin has demonstrated substantial gains. ApeCoin (APE) has been stealing the spotlight recently, joining the ranks of other meme coins such as Shiba Inu (SHIB) and Pepe (PEPE) as the top performers in the market. These unconventional cryptocurrencies have defied convention, racking up impressive double-digit gains over the past week. ApeCoin price surged more than 12% within a week, coupled with an 7% increase over the past month. Current Status of ApeCoin At the time of writing, ApeCoin (APE) is trading at $2, with a 24 hours trading volume of $107 million over the last 24 hours, climbing 117%. This surge in trading volume underscores the growing interest and activity surrounding ApeCoin within the crypto community. ApeCoin (APE) Price Chart (Source: TradingView) ApeCoin’s (APE) daily price chart indicates that the meme coin is currently positioned above its 50-day Exponential Moving Average (50EMA), a positive signal for investors. Moreover, the Relative Strength Index (RSI) is noted at 56.06, suggesting that the coin is neither overbought nor oversold, contributing to a healthy and sustainable price movement. ApeCoin’s remarkable ascent against the backdrop of a broader crypto market downturn challenges conventional market wisdom. While the largest cryptocurrencies are experiencing losses, the meme coin continues to captivate traders and investors. Also, showcasing the unique performance in the crypto landscape. Will ApeCoin (APE) price continue to rise? Share your thoughts with us by tweeting @The_NewsCrypto. Highlighted Crypto News SHIB Pumped 19% Over Last Week, Is It Too Late to Buy?

Lummis filed a brief supporting Coinbase’s motion to dismiss the SEC lawsuit. The senator argued that the SEC had exceeded its power. U.S. Senator Cynthia Lummis filed an amicus brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit. This filing from the senator strengthens the exchange’s request to dismiss the SEC lawsuit. In the legal battle between Coinbase and the U.S. SEC, the crypto exchange requested that the allegations against them be withdrawn in a brief that was submitted to the court hearing the SEC case on August 4. According to the August 11 filing with the U.S. District Court for the Southern District of New York, Lummis emphasized that “this is no run-of-the-mill enforcement case.” The Senator claimed that the SEC is attempting to establish primary influence over the crypto industry by suing Coinbase over alleged securities violations. Lummis argued that the SEC had exceeded its power by claiming that nearly every crypto asset is a security. She also mentioned that Congress hasn’t granted the SEC authority to regulate crypto assets. Along with Lummis, other crypto firms have raised their support for Coinbase. The continuous support from the crypto industry expected to reflect in the exchange’s ongoing lawsuit.

Shiba Inu experiences strong bullish momentum with the upcoming Shibarium launch. SHIB Large holders’ inflow soared 1,194%, showing strong investor confidence. Shiba Inu, the distinctive memecoin, has been riding a bullish momentum for over two weeks now, coinciding with the upcoming launch of the Shiba-based blockchain mainnet known as Shibarium later this month. The entire Shiba ecosystem is awash with positive sentiment, notably Shiba-based coins like Bone ShibaSwap (BONE), Doge Killer (LEASH), and Pawswap (PAW), all of which have surged significantly in the past 24 hours. Shiba Inu (SHIB) tokens have emerged as top performers among cryptocurrencies in the past week. At present, the SHIB price stands at $0.0000109, marking a 9.31% increase. The trading volume has also surged by 86.45%, reaching $592 million. Moreover, recent data from IntoTheBlock, a Market Intelligence Platform, reveals an astonishing 1,194% surge in inflow of funds from large Shiba Inu holders. The “Large Holders Inflow” metric from IntoTheBlock tracks the movement of funds into addresses owned by whales or significant holders. Meanwhile , the dog community along with the anticipation for Shibarium launch, and Shiba Inu’s co-founder, Shytoshi Kusama, has tantalized followers with hints of three upcoming partnerships in his Telegram channel. While he remains tight-lipped about the partner companies, he did confirm that one of these “partnershibs” has already inked the agreement, with Shiba Inu’s “decentralization house” poised to welcome “incredible and powerful advisors.” The second “partnershib” is anticipated to focus on technology and furthering grand causes, with an expected announcement in August. Will the SHIB Bulls Sustain Their Strength? An assessment of the TradingView SHIB daily price chart highlights an upswing above the short-term 50-day simple moving average (50 SMA), underlining the current prevailing bullish sentiment. The 50 SMA presently rests at $0.00000979. SHIB Price Chart, Source:TradingView The daily Relative Strength Index (RSI) suggests that SHIB has breached the overbought threshold, registering a value of 73. This signals a potential overbought condition. If the existing pattern persists, the price of SHIB could potentially reach resistance levels of $0.00000908 and $0.00001280. Conversely, if the trend reverses, the price might retreat to support levels at $0.00000774 and $0.00000708.

Caitlin Long argues that banks, as regulated custodians, are essential. Custodia, as per the company’s Twitter, is now only accessible to businesses. Custodia stated on Friday that it is now taking deposits in U.S. dollars from clients in certain locations and will shortly begin providing Bitcoin custody services. The crypto-friendly bank is now offering services for US government money market funds to its clients. CEO of Custodia, Caitlin Long argues that banks, as regulated custodians, are essential despite the industry’s penchant for regulatory theater. For the same reasons that custodians in the securities business are banks rather than trust corporations or other non-bank organizations, she told, “Custodia has always believed the custodians in this industry will ultimately be banks.” Custodia, as per the company’s Twitter, is now only accessible to businesses and is not yet live in all 50 states, as they are launching “slowly and carefully.” Ongoing Legal Battle The crypto-friendly bank’s approach is at odds with the crypto industry’s mantra of “moving fast and breaking things,” as described by Long, since “banks offer customers superior protections to non-banks.” A jubilant tone permeated today’s statement, which detailed their accomplishment of a long list of duties that are now obsolete. Despite today’s victory, Custodia is still challenging the Federal Reserve over repeated rejection of the bank’s application to join FedWire due to serious threats to the system’s safety and soundness. She is now in the midst of a legal battle with the Fed, who, in Long’s opinion, are trying to “turn tail and run” and “make an example” of Custodia. Eight other fintech firms, including four in the cryptocurrency industry, have had their attempts to open a master account with the Federal Reserve blocked. Highlighted Crypto News Today: SHIB Pumped 19% Over Last Week, Is It Too Late to Buy?

Shiba Inu (SHIB) has transformed its breakout into a remarkable rally, continuing to build momentum in the ever-evolving crypto landscape. The surge has not only captivated the attention of crypto enthusiasts but has also brought a considerable number of meme token holders out of the depths of losses, marking a significant turning point in their investment journey. With SHIB’s current price resting at $0.00001120 per CoinGecko, the token has showcased an impressive 12.5% surge in the past 24 hours, while its seven-day journey witnessed a striking 25.8% increase. The breakout that commenced at $0.000094 has now solidified as a crucial support level, prompting buyers to propel the token’s value forward. The bullish sentiment has been unyielding, with sellers seemingly absent from the scene, painting a promising picture for the token’s trajectory. SHIB Targets And Challenges Ahead While the ongoing momentum keeps the market sentiment upbeat, experts point to the first significant resistance point at $0.0000106. This juncture will likely be closely monitored by traders, as potential sellers could make their presence felt. If the bullish momentum persists, the next target for SHIB rests at $0.000012. Observing the current price action, the likelihood of SHIB reaching these levels appears favorable, painting a bright outlook for this meme coin. The transformation in SHIB’s fortunes extends beyond price fluctuations. Previously, a prolonged period of time saw over 80% of SHIB holders facing losses. However, recent data from Chain Afirk, an African web3 community on Twitter, indicates a significant shift. Approximately 33.03% of SHIB holders have now transitioned into a profitable position, signaling a shift in the memecoin’s fortunes. This change not only brings relief to long-time holders but also underlines the growing resilience of the token. Shiba Inu: The Key NVT Signal Analyzing the Network Value to Transactions (NVT) signal provides further insights into SHIB’s current state. According to Glassnode data cited by a price analysis, the NVT metric has surged to 170.52. This high NVT signal implies that SHIB’s market capitalization has surpassed its transaction volume, potentially pointing to an inflated state. This phenomenon could be indicative of the token reaching a market top, warranting vigilance from investors. Shiba Inu’s breakout has evolved into a rallying force, breathing new life into the meme-inspired token and offering a glimmer of hope to holders. The journey from underwater to profitable has been a notable shift, underscoring the dynamic nature of the cryptocurrency market. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Getty Images

SBF, the former CEO of the crypto exchange FTX, has had his bail revoked by a U.S. judge. Sam Bankman-Fried accused of witness tampering, sharing private writings with NY Times. Sam Bankman-Fried, the former CEO and founder of the FTX cryptocurrency exchange, has been sent to jail after a U.S. judge revoked his bail. The decision comes ahead of his upcoming trial, where he faces multiple financial crime charges stemming from FTX’s collapse in November 2022. U.S. District Judge Lewis Kaplan made the decision after finding probable cause that Bankman-Fried had tampered with witnesses at least two times. Prosecutors revealed that Bankman-Fried had shared private writings from his former partner, Caroline Ellison, with a reporter from The New York Times, crossing ethical boundaries. Back Story of FTX’s Former CEO, SBF Jail Bankman-Fried, once a billionaire, had been released on bail in December 2022 against a $250 million bond. However, his bail conditions had been revised twice due to alleged misconduct. These revisions limited his access to technology, allowing him a phone without internet capabilities and a restricted-use laptop. Further, the hearing that led to the bail revocation primarily focused on the U.S. Department of Justice’s claims of witness tampering. The prosecution cited Bankman-Fried’s use of a Virtual Private Network (VPN) to communicate with individuals. Including FTX.US counsel, and his leaking of personal and intimate entries from Caroline Ellison’s diary to the New York Times. Moreover, Judge Lewis Kaplan noted that the leaked diary entries were of a personal and intimate nature, rather than business-related. This revelation likely played a pivotal role in his decision to revoke Bankman-Fried’s bail. As the trial date of October 2 approaches, the crypto community awaits the outcome of the trial. That will determine whether Bankman-Fried is guilty of the alleged financial crimes that contributed to FTX’s downfall.

GMX, the native token powering GMX, a decentralized perpetual exchange for trading complex crypto derivatives, is under intense selling pressure when writing on August 11. Trackers show that the governance token is down 7% on the last trading day, pushing monthly losses to 24%. This downturn has seen prices tumble close to $40, a critical support level last printed in January and June 2023. Whales Dumping, Prices Fall Despite this setback, DeFiLlama’s data is stable as GMX’s Total Value Locked (TVL) remains over $534 million. Most of the trading platform’s liquidity is locked in Arbitrum, a layer-2 scaling solution for Ethereum. Additionally, another portion is locked on Avalanche, a fourth-generation Ethereum-compatible smart contract platform focused on decentralized finance (DeFi). The sell-off on August 11 coincides with actions by GMX “whales.” According to Lookonchain data, four whales sold 62,274 GMX worth $3 million. Address “0xb824” liquidated 19,786 GMX, translating to 514 ETH, and “0xa38a” sold 11,667 GMX for 305 ETH, losing $50,000 in the process. Meanwhile, “0X85b7” sold 20,000 GMX for 510 ETH, and “0x0b80” mirrored this move, dumping 10,820 GMX. Whales are selling amid a constant decline in TVL in DeFi. This contraction can be traced to the general cool-off from late 2021, when crypto prices peaked before dropping in 2022, crashing on-chain activity, especially in DeFi. At spot rates, it is changing hands at $46, an almost 50% decline from $91 registered in Q2 of 2023. Even so, the token is up nearly 4X from its all-time low. Whales’ action, nonetheless, could send ripples of uncertainty throughout the GMX and DeFi communities. Crypto traders actively keep track of whale activity. Usually, when they sell, as was the case today, it could sow fear, leading others to follow suit, heaping more pressure on prices. GMX Launches v2 Beta On August 6, GMX released the v2 version in beta on Arbitrum and Avalanche. The exchange said this version introduces several enhancements, including support for more assets, including XRP. With v2, users can also utilize diverse collateral types for trading positions while trading more quickly with reduced fees and lower slippage. With v2, the exchange adds, is the introduction of isolated pools for liquidity providers to customize their exposure to preferred tokens. This version also incorporates augmented incentives for balancing open interest, offering a strategic avenue for hedging pools against trader profit fluctuations.

Cardano (ADA), the blockchain platform renowned for its scalability and technological approach, has made significant strides in the crypto market, as highlighted by the recently released Messari report. The report provides valuable insights into Cardano’s achievements in Q2 2023, solidifying its position as a prominent player within the industry. With a strong focus on fostering a robust ecosystem and pushing the boundaries of decentralized finance (DeFi) and non-fungible tokens (NFTs), Cardano is poised to reshape the landscape of blockchain technology, according to Messari. Cardano TVL Ranking Skyrockets, Climbs From 34th to 21st Per the report, Cardano experienced substantial growth in stablecoin value, with a 34.9% quarter-over-quarter (QoQ) increase and a significant 382.1% year-to-date (YTD) surge. Indigo Protocol emerged as a frontrunner in stablecoin and synthetic asset issuance, solidifying its dominance in the space. Furthermore, the Total Value Locked (TVL) witnessed a shift towards newer projects, as protocols created in the past six months accounted for 47.4% of TVL dominance in Q2. The TVL in USD rose by 9.7% QoQ and 198.6% YTD. Cardano’s TVL ranking climbed from 34th to 21st across all chains in 2023. On the other hand, average daily decentralized application (dapp) transactions on Cardano surged by 49% QoQ, marking the third consecutive quarterly increase. Moreover, Minswap, an automated market maker (AMM), showcased the largest absolute growth in transaction volume. However, several new dapps also contributed to the overall surge. Minswap’s popularity soared in Q2, surpassing the leading NFT marketplace jpg.store regarding dapp transactions. This trend aligned with the sectoral shift, as DeFi activity gained momentum while NFT activity experienced a decline. The overall increase in dapp transactions reached a substantial 49.0% QoQ, averaging 57,900 daily transactions. Q2 NFT Metrics Reflect Market Correction According to Messari, NFT metrics experienced a decline in Q2. Average daily NFT transactions dropped by 35.7% QoQ to 2,900, while the total quarterly trading volume fell by 41.9% QoQ to $46.2 million. This downward trend aligned with the broader market, as even blue-chip collection floor prices declined in 2023. Notably, NFT sales volume remained concentrated primarily in jpg.store, which dominated the marketplace with a 98% market share. Nevertheless, unique buyers continued to drive NFT activity, while a relatively small number of sellers catered to this larger pool of buyers. Messari further highlights that Cardano’s ecosystem showcased expansion in multiple sectors, particularly in DeFi. Protocols for swaps, stablecoins, synthetics, and unique Cardano-centric services like lending staking power surfaced alongside the incumbents. Cardano’s second quarter showed substantial growth and diversification across various sectors, including DeFi, NFTs, and Layer-2 solutions. Key statistics revealed a surge in stablecoin value, a shift in TVL dominance towards newer projects, and an impressive increase in average daily dapp transactions. While NFT metrics experienced a decline, the ecosystem demonstrated resilience and competition among protocols. In contrast, Cardano’s native token, ADA, has been experiencing a decline in line with the broader market trend since April 15, after reaching its yearly peak of $0.4620. ADA is trading at $0.2933, reflecting a 1.4% decrease in the past 24 hours. Over the last fourteen days, it has declined nearly 6%. Featured image from iStock, chart from TradingView.com

Bitcoin seems on the verge of seeing downside volatility during today’s trading session if bears can break current support. However, price action has been slow as all major narratives, including those from macroeconomic forces, have lost strength. As of this writing, Bitcoin trades at $29,300 with sideways movement across the board. Low volatility has been suppressing BTC’s price action, a status quo that could persist until macroeconomic forces come back into the picture in September. Nassim Taleb Lashes Out At Bitcoin Again In the meantime, Bitcoin critics are using the drop in volatility, and trading volume, to support their arguments against the cryptocurrency. Wall Street operator, professor, and author Nassim Taleb stands among the latter. Via his X account, Taleb showed his almost 1 million followers the chart below pointing at the Bitcoin price and the decline in trading volume. Using the chart and the metric as a proxy to gauge Bitcoin adoption, Taleb stated: The chart above shows BTC declining trading volume since 2020 when the cryptocurrency entered a rally that took it from a low of around $3,000 during a “Black Swan” event, the COVID-19 pandemic, to an all-time high of $69,000. At that time, similar to today, BTC and the crypto market spend years in a “Crypto Winter” with declining prices. Once the sector rallied, many jumped in on the action swelling the trading volume to an all-time high. In that sense, Taleb seems to be hinting at a downside for the price of the cryptocurrency following a rise in price with low trading volume, which often leads to a decline. One crypto investor tried to show Taleb a different version of the chart above, which goes back to 2014 when the cryptocurrency was trading just above $100. The user pointed out that BTC has seen periods of volatile volumes as the cryptocurrency became a mainstream asset. However, Taleb dismissed the user with the following: The Black Swan author has been a Bitcoin critic, comparing the cryptocurrency with a “cult” and predicting that the sector will eventually “fade.” Cover image on Unsplash, chart from Tradingview

Gas fees play a major role in every transfer of tokens through smart contracts. The proposed card-based gas fee payment is chosen as the user-friendly option. Visa, an America-based multinational financial services corporation has brought an easier way of traditional payment services for the crypto industry. Post enabling auto payments for self-custodial wallets, Visa supports transactions towards blockchain gas fees. In a blog post published on Thursday, Visa said that testing of a mechanism that would enable customers to pay the on-chain gas fees in fiat currency through card payments had been completed. Taking use of the paymaster innovation, the business said their solution has passed all necessary tests on the Ethereum Goerli Testnet. Easier Transaction In the complex process of crypto transactions, gas fees play a major role in every transfer of tokens through smart contracts. Upon the work on rethinking digital transactions made with account abstraction, the Visa card makes the transaction easier with Paymaster implementation. Also, the team aims to reduce friction on the blockchain with the conjunction of incorporating the paymaster concept with Account Abstraction. In this way, the proposed card-based gas fee payment evolves as a user-friendly option for digital transactions. The ERC-4337 core team implementation has stayed active on GitHub under GPL 3.0 license. Utilizing its own CyberSource, the developer team is supported by the needed SDKs and APIs. Though failing with the discrepancies, the proposed solution brings decentralized applications (dApps) for gas fee acceptance using Visa card payments. Related Crypto News: Bitunix Exchange Now Supports Visa and Mastercard Payments

The FSC established AML guidelines in July 2021. Binance’s domestic legal company was incorporated on May 12, 2023. The Financial Supervisory Commission (FSC) of Taiwan has reportedly received an application for registration from Binance, under the Money Laundering Control Act. According to a local media source, the exchange has applied for Anti-Money Laundering (AML) compliance. BitShine’s co-founder Chen Peiyun was quoted in the report as saying that the FSC had identified Binance as a potential exchange to join the Taiwanese crypto sector. The FSC established AML guidelines in July 2021, making it mandatory for all crypto exchanges operating or supplying services in Taiwan to comply with the laws, despite the fact that the cryptocurrency market in Taiwan is mainly unregulated. Eyeing Taiwanese Market Binance has a local branch in Taiwan named Binance International Limited Taiwan Branch (Seychelles), which handles business there. According to the documentation, Binance’s domestic legal company was incorporated on May 12, 2023. The cryptocurrency exchange has not only registered in the nation but has also worked with authorities there to combat cybercrime. Moreover, in March, the FSC took over as the major cryptocurrency regulator in the island nation. The head of the regulatory organization said at the time that they would be concentrating on drafting significant laws and policies, such as the segregation of consumer assets from corporate money and investor protection procedures. Since the Beijing government has banned any crypto-related activity as of 2021. Taiwan has made it plain that its crypto regulations would be separate from mainland China. Moreover, Binance, the world’s largest cryptocurrency exchange, is reportedly planning to join the Taiwanese market. This is amidst facing increased regulatory scrutiny in the U.S and Europe. Highlighted Crypto News Today: Self-Custody Wallets are Not Without Risks Says Binance CEO

The weekly total of $34.8 million spent on Ethereum fees is the lowest it’s been in two months. This trend, as reported by IntoTheBlock, is indicative of upcoming price volatility. As Ethereum’s volatility drops low, the on-chain analytics business IntoTheBlock claims a huge decrease in ETH fees. IntoTheBlock reported this week that Ethereum transaction costs have been reduced by a substantial 21.2%. The weekly total of $34.8 million spent on Ethereum fees is the lowest it’s been in two months. There has been a period of low volatility that corresponds with this reduction. Ethereum’s volatility, a measure of its price fluctuations over time, is at record lows. As ETH grows in popularity, the asset’s volatility tends to diminish, as reported by IntoTheBlock. Nevertheless, the present levels seem unexpected. Massive Rally Expected Low volatility periods often last little more than a month, although volatility may increase sharply in either direction. This trend, as reported by IntoTheBlock, is indicative of upcoming price volatility. Ethereum’s price, the second biggest cryptocurrency, has been relatively stable over the last 24 hours. As of this writing, ETH is down 0.13 percent in the previous 24 hours, currently trading at $1,846. Visa, a payments solution provider, has introduced a pilot program on the Ethereum blockchain that accepts Visa credit and debit cards for payment of gas fees. The project’s overarching goal is to make using dapps created on the Ethereum blockchain easier for the general public. The business claims that this experiment will pave the way for digital transactions to become more easily accessible and user-friendly in the future. The payment giant used a number of cutting-edge technologies, such as paymaster smart contract agreement, account abstraction, and the ERC-4337 standard, to make this test possible. Highlighted Crypto News Today: HKVAX Gets In-principal Approval From Hong Kong’s SFC

Curve DAO (CRV) has continued to decline recently. Here’s what on-chain data says regarding if a rebound is probable for the coin anytime soon. What Curve DAO Metrics Hint At Regarding Futures Price Action In a new insight post, the on-chain analytics firm Santiment has recently discussed how the underlying metrics related to CRV have looked. The first relevant metric here is the “Supply Distribution,” which tells us the percentage of the Curve DAO supply each investor group holds. In particular, the cohort of interest here holds between 10,000 and 100 million tokens of the asset. This is an extensive range covering the likes of the sharks and whales. Here is a chart that shows the trend in the holdings of this CRV group over the past year: As displayed in the above graph, the indicator’s value has shot up recently, implying that sizeable Curve DAO investors, such as the sharks and whales, have sharply expanded their reserves. About two weeks back, these holders had been carrying a combined 33% of the circulating supply, but today that value has risen to 41%. “This is a massive ascension and is now the most by far that these sharks and whales have held in well over a year,” notes Santiment. This accumulation from these key investors has come right after the big plunge that Curve DAO observed, suggesting that they find the current levels a worthy buying opportunity. Naturally, this is a positive sign for the cryptocurrency’s price. The next indicator of interest here is the “whale transaction count,” which keeps track of the total number of CRV transfers happening on the chain carrying a value of more than $100,000. When Curve Dao had observed its plunge earlier, the value of this indicator had registered a sharp spike. This means that the whales had been actively making moves back then. Since then, however, the metric’s value has returned to normal, suggesting that these humongous investors aren’t showing any extraordinary activity. As these investors had made many transfers earlier for selling purposes, the indicator calming down could imply that this cohort has stopped applying selling pressure. “With prices still significantly lower than two weeks ago, a follow-up whale transaction spike may be a foreshadow to a quick recovery,” explains the on-chain analytics firm. CRV has been at relatively high levels recently in terms of the development activity (that is, the amount of work that the Curve DAO developers have been putting into the public GitHub repository). Generally, a high development activity implies that the coin is still being backed by its developers, which can be one of the signs to look out for to know if a project is still alive and kicking. Santiment said: CRV Price Curve DAO is trading around $0.59 at the time of writing, down 3% in the last week.

Curve Finance (CRV), a leading decentralized finance (DeFi) protocol, announced significant progress in its recovery efforts following a recent hack that resulted in losing $73.5 million across several projects within its factory pools. The attack on July 30 exploited a critical security flaw known as a “reentrancy vulnerability,” allowing malicious actors to drain funds from Curve’s smart contracts. Curve Finance Commits To Restitution Process For Hacked Funds In a significant effort, Curve Finance has successfully retrieved 70% of the funds affected by the hack. While this achievement marks an important milestone, an active investigation is underway to recover the remaining balance and hold the perpetrators accountable. Understanding the gravity of the situation, Curve Finance has also taken proactive measures to ensure a fair and transparent distribution of the recovered funds to affected users. The protocol is diligently working to measure the respective shares of each impacted account, aiming to facilitate an equitable restitution process that prioritizes user protection and trust restoration. Curve Finance’s recovery efforts are further bolstered by their recent announcement of a $1.85 million bounty. This generous reward will be granted to anyone who can provide accurate information leading to the identification and apprehension of the attackers holding the remaining funds. By offering this substantial bounty, Curve Finance actively encourages community participation and collaboration to expedite the investigation and bring the perpetrators to justice. Curve’s Post-Hack Safety Report Following a thorough investigation, Curve Finance discovered that the exploit primarily targeted the aleth, peth, mseth, and crveth pools. The vulnerability stemmed from a bug within the vyper 0.2.15-0.3.0 version, which the protocol promptly identified as the root cause of the breach. By swiftly pinpointing the issue, Curve Finance was able to take immediate action to mitigate any further risk to its users. It is important to note that all other pools on Curve Finance have been confirmed as safe and unaffected by the exploit, according to Curve’s update. This assurance gives users the confidence to continue utilizing the platform, knowing that their funds remain secure within these pools. Alongside the technical remediation, Curve Finance collaborates with security experts, auditors, and the broader DeFi community to conduct thorough audits and implement additional security measures. This collaborative approach aims to reinforce the protocol’s resilience and prevent similar incidents in the future. Overall, Curve Finance’s recovery of 70% of the hacked funds, coupled with its ongoing investigation and bounty initiative, underlines the protocol’s commitment to user protection and the broader DeFi community. According to Token Terminal data, Curve Finance’s circulating market cap currently stands at $518.76 million, reflecting a decrease of 22.29% over the analyzed period. The fully diluted market cap, which represents the potential future market value of the project, is estimated at $1.97 billion. Curve Finance’s total value locked (TVL), a crucial indicator of the protocol’s popularity and user engagement, currently amounts to $2.44 billion. Despite a decline of 35.19% over the analyzed period, Curve Finance maintains a substantial TVL, highlighting its significance within the DeFi landscape. Featured image from iStock, chart from TradingView.com

This cryptocurrency, Shiba Inu dog-inspired logo, has garnered significant attention in the crypto community. As the highly anticipated Shibarium launch draws near, Shiba Inu (SHIB) is riding on bullish momentum. In terms of the 7 days price gain, the meme coin is outperforming other notable assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE), representing less than 1% price increase. Investors and enthusiasts are now considering whether to buy in as the project’s new development unfolds. SHIB Price Gains Momentum As Shibarium Nears A recent examination of on-chain data by IntoTheBlock exposed a remarkable rise in transactions related to SHIB ranging from $100,000 to $1 million, demonstrating an astounding surge of 300% over the last month. The current upward movement can also be linked to a post by the main developer, Shytoshi Kusama, on July 31. Related Reading: Solana Cuts Saga Price By 40%, But Case For New SOL Yearly High Increases He stated that the launch of Shibarium is fast approaching, prompting the need to “mint the remaining supply of BONE and renounce the BONE contract.” Recall that the lead developer of Shiba Inu, Shytoshi Kusama, mentioned in a blog post on July 6 that the team plans to talk about and maybe launch Shibarium, the awaited layer 2 technology, at the ETHToronto and ETHWomen hackathons in Canada in August 2023. He also shared a statement directly on the X application: “Here’s a math equation for those who like math. I won’t make it long: Shib > X.” Going by his timeline, the eagerly anticipated release of the Layer 2 Shibarium will be on August 15-16 as part of the ETH Toronto event. Launching the long-awaited Shibarium will likely boost investors’ interest and hype within the Shiba Inu ecosystem. After Shibarium is launched, more people could want to invest in the $SHIB token, as it might create a new wave of excitement. Technical Indicators Signal Bullish Momentum As the Shibarium launch nears, the coin experienced bullish sentiment evident in the 4-green candles on the daily chart. According to the chart, SHIB/USDT has approached the upper Bollinger Bands indicator, suggesting a high bullish pressure. The upper Bollinger Band is a resistance level, indicating that the coin’s price might be challenging to sustain further upward movement without a pullback. A breach of the upper Bollinger Band could signal a continuation of the uptrend, but if the price fails to break through and starts to decline, it might indicate the beginning of a retracement. With the RSI level at 69, the coin’s price might hover in the overbought territory, suggesting a potential slowing down or a reversal. However, the MACD above the signal line indicates positive momentum and potential upward movement. So the RSI indicates that the coin might be due for a corrective pullback, but the MACD suggests there is still buying interest. Considering the analysis, the coin could observe a period of consolidation or a minor dip before a potential continuation of the upward trend. Traders should closely monitor price action, especially around key support levels at $0.0000077, and be prepared for potential short-term volatility. As of today, Shiba Inu is trading at $0.00000105. According to CoinGecko statistics, it has advanced by 18% & 24% over the last 7 and 14 days, respectively.

Worldcoin, the brainchild of OpenAI’s Sam Altman, made its official entrance into the world of cryptocurrencies in July. At first, things went smoothly as the euphoria from the launch grew. But this would only be short-lived because regulators began to pay close attention to Worldcoin’s data collection activities. In the last couple of weeks, regulators in various jurisdictions have brought Worldcoin under a microscope, significantly impacting the price of its native token, WLD. Regulatory Concerns Engulfs Worldcoin Not too long after its launch, Ethereum founder Vitalik Buterin first raised alarm about Worldcoin’s technology. According to Buterin, there were major privacy and security concerns, highlighting that user data collected using Worldcoin’s orbs could be prone to abuse. Following this, reports emerged of some people getting less technologically savvy residents to scan their iris at Kenyan orb locations and then paying them one-third of the 25 WLD token rewards for doing so. In light of this, the Kenyan government launched a crackdown on the firm, leading to a temporary pause of its activities in the country. Worldcoin’s problems didn’t end there as Germany’s Bavarian State Office for Data Protection Supervision (BayLDA) also launched an investigation. The regulator’s concern centered on Worldcoin’s data processing practices and how it was transferring information. Most recently, the company has come under fire in Argentina where regulators are currently investigating its operations in the country. This is in addition to regulators in the United Kingdom and France also questioning Worldcoin’s data handling practices. Can WLD Price Recover From This? In light of the increased regulatory scrutiny around Worldcoin, its native WLD token has naturally suffered. WLD’s price has been on a consistent decline following its initial price pump on launch day, falling double-digits in the last few weeks. With so many investigations into the activities of the company, it is likely that this downtrend will continue. And if lawsuits were to result from these investigations, then WLD price could suffer the same fate as XRP following the SEC lawsuit back in 2020. Interestingly, the daily trading volume of WLD is up 44% in the last day. This signals growing interest in the coin which could lead to a price recovery. But such a recovery would only be short-lived as long as the uncertainties surrounding Worldcoin remain. Over the last 24 hours, the price of WLD has fallen 6.79% to trade at 1.7 at the time of this writing. It is recording losses of 25.64% on the weekly chart, but meager gains of 1.72% on the 30-day chart.

On August 10, the price of XRP inexplicably spiked for a brief moment on the Gemini exchange. For a moment, the price of XRP reached an astounding $50 per coin before quickly crashing back down to the same level on spot markets on other exchanges. Brief Price Surge On Gemini According to various posts on social media platform X (formerly known as Twitter), it would seem that Gemini experienced a technical issue that caused the XRP price displayed on their exchange to show an erroneous price of $50. During that time, however, XRP was trading around only $0.63. It would appear as if Gemini is currently experiencing a thin order book after recently relisting XRP on its spot markets. Users have posted screenshots on social media of the token’s price on the exchange rising above $1 several times. However, the exchange has since updated its chart to make it look like the cryptocurrency only spiked to $1.50. The bump, which took a few seconds to correct, was likely a result of low liquidity. According to crypto trading expert Ali Martinez, the liquidity was so low that only a $37,000 order was enough to move XRP prices on the exchange by 2%. Another observer also mentioned that a user had accidentally put up a sell order for a lot of tokens at $50, spiking up the price on Gemini in the process. A price swing of that magnitude seems highly impossible without any major news or event driving widespread interest in XRP. Following this, as of the time of writing, the exchange has announced it has put its platform into full site maintenance. Relisting XRP Gemini is the latest exchange to relist XRP after Ripple’s partial victory in court against the United States Securities and Exchange Commission (SEC). Due to regulatory concerns, the token was initially delisted on various exchanges after the SEC filed a lawsuit against Ripple in 2020. However, US Judge Analisa Torress ruled in July that XRP sales to the general public are not in violation of federal laws, so many of these crypto exchanges have gone ahead to relist XRP on their platforms. Other crypto exchanges that have also moved to relist the token since the ruling include Coinbase, Kraken, and Bitstamp. At the time of writing, XRP is trading at $0.6311, up by 33.09% in the past month. Despite the initial euphoria community members may have experienced due to the Gemini glitch, the Ripple ecosystem still has a long way to go before XRP can actually hit $50 on the open market.