Hedera Hashgraph’s native cryptocurrency, HBAR, is shining following the slight boost in the crypto market today, August 8. Hedera briefly broke through the one-month-long $0.5 resistance, climbing above $0.6, while top coins like Bitcoin bleed with losses. Even though the overall crypto market cap gain affected many assets positively, HBAR owes most of its gains to the latest ecosystem developments and partnerships. HBAR Price Performance Amid Impressive Ecosystem Updates Despite a drop in trading volume, HBAR has soared over 6%, attaining a peak of $0.06032 on Tuesday morning. This sharp spike represents a nearly 10% increase from the day low of $0.05483. But the token has now receded from its peak value and currently trades at $0.05951. Related Reading: Valkyrie Unveils Double-Barreled Approach To Launch An Ethereum ETF Alongside A Bitcoin ETF Moreover, the HBAR price has soared over 16% in a week, bucking the bearish trend that snatched all of Bitcoin and Ethereum’s past week’s gains. The token’s value is now over 22% higher than the price recorded 30 days ago. However, HBAR’s trading volume is south of its price trajectory. The over 16% decline in 24-hour trading volume raises questions about whether the bulls had reached saturation and capitulated to the bears even before the rally grew strong. Strategic Partnerships Drive HBAR’s Rally Hedera’s network advancements and strategic partnerships have helped to boost HBAR’s current market position. In August, the Hedera network recorded notable deals with leading banking and financial institutions and automobile companies. On August 2, Korean automobile firms Hyundai and KIA announced the launch of a new blockchain and AI-powered Supplier co2 Emission Monitoring System (SCEMS) on the Hedera network. This integration allows Hedera to record the carbon emission data from suppliers while AI will predict future emissions following the data provided. Similarly, on August 4, Hedera announced a partnership with FreshSupplyCoAu in a groundbreaking move that could reshape the digital finance landscape. The strategic partnership allows users to connect with conventional banking and the Mastercard network for a seamless, safe, and wider range of cross-border payments. Through Mastercard’s payment gateway, Hedera will connect traditional banking infrastructure with decentralized finance technology, bridging the gap between blockchain and traditional finance. These strategic partnerships mark significant milestones for the network. They could boost HBAR’s usability and trading activity as more investors adopt the token. This move could amplify HBAR’s reach and market presence, potentially increasing network activities and the token’s price. HBAR Market Outlook, Will The Bulls Sustain? Hedera’s dwindling 24-hour trading volume, however, raises questions about the longevity of the ongoing rally since a trading volume decline often signifies bearish market activities. The HBAR’s price chart reveals that technical indicators suggest a bearish trend reversal for HBAR as the token trades above the 50-day moving average, confirming the bullish momentum on its price today. But the Relative Strength Index has receded from 62 to 57, demonstrating weakening momentum as buyers exit the market. Also, the Moving Average Convergence/Divergence has converged with the signal line and now moves below, while the faded green histogram bars have birthed red ones. This observation shows HBAR could face downturns in the next few hours unless the bulls regain control.

Data shows that Litecoin long-term holders exited the asset before the halving, while short-term holders were left to panic on the halving day. The “halving” here refers to an event where the block rewards of Litecoin are permanently cut in half. Litecoin Long-Term Holders Sold During Price Surge Before The Halving According to data from the market intelligence platform IntoTheBlock, the long-term holders had been well-prepared for the “sell the news” halving event. The “long-term holders” (LTHs) generally include all investors who have been holding onto their coins since at least six months ago. Related Reading: These Bitcoin Metrics Are At Important Retests, Will Bullish Trend Prevail? This group includes some of the most resolute investors in the Litecoin market, who don’t easily react to whatever is going in on in the wider sector, as they usually hold through FUD or profit-taking opportunities without participating in any significant selling. Because of how rare movements from these investors can be, the few times that they do sell can be the ones to watch out for, as they may spell trouble for the market. A way to gauge whether the LTHs are participating in selling or not is through the “holding time of transacted coins” metric, which tells us about the average amount of time that coins being transferred on the blockchain had been dormant prior to this movement. When the value of this metric is high, it means that the age of coins being sold on the network is high, which can naturally be a sign that the LTHs are active right now. On the other hand, low values usually indicate that the short-term holders (STHs) are the ones selling currently. Now, here is a chart that shows the trend in the Litecoin holding time of transacted coins over the past few months: As you can see in the above graph, the Litecoin holding time of transacted coins spiked back in June, when the price of the cryptocurrency had been observing a sharp rally. During the largest of these spikes, the indicator’s value had exceeded 1 year, implying that some of the most experienced investors in the market had broken their silence. This rally had occurred as the market had started getting hyped about the halving, which was only a month and a half away at that point. This event takes place every four years, with the latest one having occurred just earlier this month. Unlike what some may have hoped for, the event didn’t prove to be bullish for LTC, as the aforementioned rally didn’t last for too long and the cryptocurrency only declined in the remaining leadup to the halving, until finally it actually sharply plunged on the day of the event itself. It would appear that the experienced LTHs had already predicted something like this may happen, so they had taken the wise decision of selling while the opportunity was there. In the post-halving selloff, the indicator’s value has remained low, implying that it’s only the short-term holders who have been panic selling after they saw that a bullish trend couldn’t return to Litecoin with the event. LTC Price At the time of writing, Litecoin is trading around $84, down 8% in the last week.

The exchange claims it is now registered in 18 different countries across the world. Binance has found refuge in El Salvador from the storm of regulations. Binance has recently announced it has been granted a full license to operate in El Salvador. This landmark event coincides with the rising acceptance of Bitcoin (BTC) as legal money in the nation. The exchange has made history with this statement by being the first cryptocurrency exchange to be granted licenses to operate in El Salvador by the country’s Central Bank and National Commission of Digital Assets. Moreover, Binance is proving once again that it is serious about providing its customers with a safe and lawful trading environment by obtaining the first full license in El Salvador. The exchange claims it is now registered in 18 different countries across the world. Binance’s commitment to meeting the needs of customers all across the world means that the company is actively expanding into new areas where it may operate legally. Much-needed Relief Binance’s new Latin American head, Min Lin, has applauded the Salvadoran government’s embrace of cryptocurrency, saying that it exemplifies the balance between safety and progress in the digital asset industry. Binance’s licensing in El Salvador is seen as a positive step for the country’s cryptocurrency industry. Moreover, Binance has been under increasing scrutiny from governments throughout the world in recent times. As a result of government intervention in several countries, Binance has been pushed out of several markets. Binance has found refuge in El Salvador from the storm of regulations. The El Salvadorian government’s green light for Binance has several positive implications for the troubled exchange. Highlighted Crypto News Today: PayPal’s PYUSD Stablecoin Now Listed on Huobi Exchange

In a surprise revelation today, Galaxy CEO Mike Novogratz dropped a significant hint that the approval of a spot Bitcoin exchange-traded fund (ETF) is on the horizon. Novogratz, known for his insights in the cryptocurrency space, disclosed that his sources at BlackRock and Invesco have indicated that the green light for a Bitcoin ETF is not a matter of “if,” but rather “when.” Novogratz’s projected timeline for approval points to a span of “four to six months,” shedding light on the potential near-term developments in the regulatory landscape for Bitcoin ETFs. BlackRock is one of many firms competing for a Bitcoin ETF approval BlackRock, a prominent asset management firm, submitted an application for a spot Bitcoin ETF, which was officially included in the Securities and Exchange Commission’s docket in July. In response to indications from the SEC that BlackRock’s initial application required enhancements, the company promptly revised its proposal. The revised application introduced a “surveillance sharing” provision, involving Coinbase, a leading crypto exchange, in monitoring and reporting any possible illicit activities. Interestingly, other players in the investment realm followed suit. Valkyrie, Fidelity, and ARK Invest incorporated a similar “surveillance sharing” clause in their updated Bitcoin ETF applications, mirroring BlackRock’s approach. A spot Bitcoin ETF would offer investors exposure to Bitcoin’s value without necessitating direct ownership of the cryptocurrency. Furthermore, such an ETF would be tradable on conventional stock exchanges, enhancing accessibility and legitimacy for traditional investors. While the market saw the introduction of a Bitcoin ETF linked to futures earlier this year, the anticipation of a spot ETF—one tied to the real-time price of Bitcoin—has been deemed a “holy grail” for the cryptocurrency industry. As the industry closely monitors regulatory developments, these recent revelations hint at potential breakthroughs that could reshape the landscape for Bitcoin investment vehicles.

Popular XRP advocate and notable attorney John Deaton recently predicted a comfortable appeal victory by Ripple against the United States Securities and Exchange Commission (SEC). The Managing Partner of ‘The Deaton Law Firm’ says he is willing to bet big on the exchange emerging victorious on appeal. Founded Belief Or Mere Speculation? John Deaton’s willingness to bet on an uncertain court judgment follows a recent thread penned by digital asset enthusiast and Australian-based lawyer Bill Morgan. According to the thread, Judge Analisa Torres did not err in her summary judgment decision. Morgan was of the opinion that the Securities and Exchange Commission (SEC) classified sales of XRP by Ripple into three unique classes; institutional sales, programmatic sales, and other XRP distributions. Following the classification, Judge Torres evaluated each class by applying the popular Howey test. After evaluation, the Judge discovered major differences in each class. For instance, the Judge discovered that every institutional investor signed agreements with Ripple and expected to earn profits from the firm’s activities. While institutional investors entered contracts with Ripple, programmatic sales on exchanges did not require the signing of contracts, and purchasers, therefore, did not expect to make profits directly from Ripple’s efforts. Therefore, according to Morgan, Judge Torres ruled that the sale of XRP to institutional investors amounted to a sale of securities, while that of programmatic sales on virtual exchanges was not. Deaton Ready To Go All In For Ripple Reacting to the thread, John Deaton commended Bill Morgan and noted that Judge Torres did not differentiate between Ripple’s XRP sales merely out of “thin air.” He stated that the Judge considered each sale the SEC alleges as securities “and applied the Howey test.” Therefore, given his confidence in the decision, he was willing to wager “significant funds that she doesn’t get reversed on appeal.” While Deaton may have cause to believe in a favorable appeal outcome, recent developments may instigate some doubts in his prediction. Recently, US District Judge Jed Rakoff, who oversees the SEC’s lawsuit against Terraform Labs, rejected the approach used in Judge Torres’s ruling. This creates a certain unpredictability in the outcome of the upcoming SEC appeal. In the interim, SEC’s Chair, Gary Gensler, has suggested that an appeal against the decision in the Ripple lawsuit is under strong consideration. While Gensler’s comment does not expressly guarantee an appeal, however; it indicates that the US SEC has not conceded a partial defeat in the suit.

PYUSD stablecoin is also being listed on the BitMart exchange. The first trading pair on the Huobi exchange will be PYUSD/USDT. Within the first day of its release, the Paxos-issued PayPal USD (PYUSD) stablecoin was listed on the Huobi cryptocurrency exchange, led by Justin Sun. The PayPal USD (PYUSD) stablecoin, was launched on Monday by PayPal and is tied to the US dollar. Huobi, the world’s largest cryptocurrency exchange, made the first public announcement of acceptance for PayPal USD (PYUSD) on August 8. The first trading pair on the exchange will be PYUSD/USDT, and there will be no transaction fees of any kind. As soon as the PYUSD stablecoin joins the market and has sufficient liquidity, trading will begin on the exchange. Presently, there are 26.9 million PYUSD in circulation. PYUSD stablecoin is also being listed on BitMart. The stablecoin will be available for trade on the market in the PYUSD/USDT pair, and deposits may be made at the moment. On August 8, at 06:00 AM UTC, trading opened, and on the same day, at 10:00 AM UTC, users were able to begin withdrawing funds. Ongoing Concerns The other major cryptocurrency exchanges have not yet publicly stated their willingness to list the PayPal USD stablecoin. The Paxos-issued stablecoin, PayPal USD (PYUSD), suffers from centralization and security flaws as per industry experts. When requested by government agencies or departments, Paxos may also freeze or take the assets of any individual. Solidity v0.4.24, the version used to create PYUSD, has minimal scalability, poor security, and is known to have back doors. However, the launch is notable since it is the first time a large financial institution has announced the launch of its own stablecoin. Moreover, it will further push crypto adoption. Highlighted Crypto News Today: Shibarium Mainnet Launch Imminent: Validators Go Live on Mainnet

Lookonchain reveals significant whale activity in ApeCoin’s ecosystem, with 1.85 million APE tokens moved. Notable whales move staked APE tokens to Binance, while the “ApeCoin Token Distributor” sends tokens to another whale. APE’s price remains stagnant as investors sell during rallies, hitting an all-time low of $1.73 on August 1. On-chain analytics provider Lookonchain has revealed intriguing insights into the activities of whales in the ApeCoin (APE) ecosystem. Over the past 24 hours, three significant holders, known as whales, have made substantial transactions involving APE tokens, amounting to a staggering 1.85 million APE, equivalent to $3.4 million. According to Lookonchain’s data, two of these notable whales transferred their staked APE tokens to the Binance cryptocurrency exchange. Additionally, the “ApeCoin Token Distributor” sent five million APE to another whale, who later moved 560,000 tokens, valued at approximately $1.02 million, to the OKX exchange. The intentions behind these moves are not entirely clear, as there could be various reasons for investors to shift their assets to exchanges, such as selling them, staking, or participating in airdrops. ApeCoin records lowest price The APE price, however, seems to be reflecting a pattern of investors selling during rallies, leading to its stagnant performance in recent weeks. Amid ongoing declines in the cryptocurrency market, ApeCoin experienced a record low on August 1, dropping to $1.73, before marginally recovering to $2.07 on August 6. The downward pressure on APE coincided with the Bored Apes Yacht Club NFT collection facing fresh challenges. As the ApeCoin community navigates market fluctuations and explores potential catalysts for growth, the recent whale activity could be an indicator worth considering for investors and analysts. The implications of these significant token movements on the overall APE market and its future trajectory remain to be seen.

Platform Aims To Empower Animal Enthusiasts and Pet Content Creators Via Gamified Rewards Model SINGAPORE–(BUSINESS WIRE)–Furrend, the Web3 pet video-sharing social network, today exited stealth with the beta rollout of its novel application built to empower pet video content creators through an innovative financial rewards model. Furrend delivers their unique platform with economic tools and gamification features to help pet content creators monetize their work and engage with their community through NFTs. By rewarding content creators financially, Furrend aims to empower creators to pursue their passions, further fuel their creativity, and produce pet-related content that resonates with a global audience. Today, more than one-third of pet owners own dedicated social media accounts to share their pet content with fellow animal lovers. With the global pet market generating north of $261 billion this year, according to the World Animal Foundation, pet-focused content is positioned to grow more commonplace and more lucrative. However, today’s consumer apps have become overly-commoditized, and no longer serve the best interests of the content creators or end users. Beholden to advertisers, traditional social media platforms habitually underpay their creators – diminishing the value of their work. To upend this pattern and bring value back to content creators, Furrend’s platform delivers economic tools and gamification features to allow pet content creators to pursue their passions, further fuel their creativity, and continue producing exceptional pet-related content that resonates with a global audience. “Furrend is dedicated to serving all pet owners, animal enthusiasts, and pet content creators who are deeply passionate about the world of pets and seek both creative expression and financial rewards for their contributions,” said Furrend Co-Founder, Jun Gong. “Furrend is redefining what a Web3-based app can do for the creators and for pet culture. What Soundcloud did for indie musicians and OnlyFans did for creators, we are going to do for pet content creators. With Furrend, millions of pet content creators in the world will be able to be fairly compensated for their creativity.” “As an animal/pet content creator, I’ve been consistently posting videos of my boat cats (Fred, Fagioli, and Bruce) for years,” added pet content creator, Abby Murphy, who owns and operates the popular TikTok channel, Fearless Fred. “Of course, a lot of work goes into filming, coming up with a storyline, editing, and then interacting with followers. However, despite years of posting and a strong community of followers, I never found an easy path to monetizing or seeing a return on investment through these traditional platforms. For many creators, this can lead to burn out. Furrend not only helps me connect to an audience interested in my content, it allows me to make content for a living through a user-friendly and positive space for animal lovers! I can’t wait to see how Furrend reshapes the pet content industry!” Currently in beta, Furrend’s platform will deliver several unique features at launch, including: Gamified Rewards: Web3-based gamification features for content monetization, as well as user and community engagement. Royalty Sharing: Additional revenue streams via NFTs, revenue split from sales, and royalties sharing. On-chain Ownership: From NFT-gated membership and NFT-gated content to digital merch drops, all content is entirely owned by the creators. Enhanced Creator Engagement: Users show direct support for the creators they love while receiving access to exclusive content and rewards — with new campaigns for fans every week. Furrend is currently invite-only, and plans to reveal the full live version of the platform in Q4. For more information about Furrend and the launch of its beta app, please visit: furrend.xyz, follow along on X, and join the chat on Discord. For pet content creators, apply here to become a pawsome creator on Furrend. Join the waitlist to get access to the Furrend social network, and browse hosted content. About Furrend: Furrend is the Web3 pet video-sharing social network that provides the tools, resources, and infrastructure for content creators to monetize their work and engage with their community through NFTs. Launched in 2023, Furrend enables creators to share a continuous stream of high-quality content to users – fueling their love for pets, inspiring creativity, and providing valuable insights and entertainment. We aim to empower them to pursue their passions, further fuel their creativity, and continue producing exceptional pet-related content that resonates with our global audience. Contacts Isaiah Jackson Howl.xyz t: 805 674 7348 e: [email protected]

There has been no activity on the Shibarium testnet “PuppyNet” for over three days. There has been a 2,210% increase in the big holders inflow measure during the last week. The mainnet launch of Shibarium has been earlier hinted by the project’s lead developer, Shytoshi Kusama, who will be attending next week’s Blockchain Futurist Conference and ETH hackathons in Toronto, Canada. There has been no activity on the Shibarium testnet “PuppyNet” for over three days, and the introduction of Shibarium validators on the mainnet has fueled rumours of an impending launch early next week. The “PuppyNet” Shibarium testnet has not processed a block in three days. According to Puppyscan, a blockchain explorer, the latest transaction took place on August 5. Shibarium’s testnet was shut down after 35 million transactions and more than 17 million wallet addresses. Highly Anticipated Event Since validators are going live on the mainnet, some in the community have speculated that the Shibarium mainnet release is close at hand. This doesn’t prove that the Shibarium mainnet is ready to go live next week, but it does raise the possibility that it will. Meanwhile, Lucie, a representative from Shiba Inu, has confirmed that the mainnet launch of Shibarium will occur in the next few days. According to her, the community of Shiba Ecosystem has reason to celebrate since the ecosystem is about to “kickstart the burn run.” The mainnet release of Shibarium was previously hinted at in a blog post by lead developer Shytoshi Kusama, with the venue being the Blockchain Futurist Conference. IntoTheBlock data shows that there has been a phenomenal increase in the number of significant holders purchasing Shiba Inu (SHIB). There has been a 2,210% increase in the big holder’s inflow measure during the last week. Highlighted Crypto News Today: ApeCoin (APE): A Closer Look at Whales’ Latest Moves

The latest weekly report from CoinShares reveals that crypto investment products, particularly Bitcoin funds, saw major outflows for the third consecutive week. As investors continue to take profit, a total of $107 million in outflows was recorded in the previous week. Crypto investment products listed in the report are from various exchange-traded product (ETP) providers, including 21Shares, Grayscale Investments, Bitwise, and Proshares. However, it was found that a significant portion of the outflows came from Purpose Investments and ETC Issuance. From a regional standpoint, CoinShares discovered that the outflows were mostly from Germany and Canada, which recorded $70.8 million and $28.5 million, respectively. Meanwhile, only Australia and the United States saw inflows, with $0.3 million and $0.2 million, respectively. Bitcoin Funds Record $111 Million In Weekly Outflows According to CoinShares’ head of research, James Butterfill, Bitcoin (BTC) was primarily responsible for the significant outflows registered by digital asset investment products in week 32 of 2023. The premier cryptocurrency saw total outflows of $111 million, its largest since March. Related Reading: Valkyrie Unveils Double-Barreled Approach To Launch An Ethereum ETF Alongside A Bitcoin ETF It appears that investment in Bitcoin-related funds is slowing down, as institutional investors continue to sell for profit. This latest report represents the third consecutive week in which Bitcoin funds experienced outflows totaling $139 million. Prior to this recent negative run, more than $742 million went into crypto funds over a four-week period, with Bitcoin receiving a huge chunk of that figure. This positive momentum is believed to have been spurred by Ripple’s partial victory over the United States Securities and Exchange Commission. CoinShares’ weekly report revealed that outflows into short Bitcoin have stopped for the first time in over three months. While this may suggest that institutional investors are no longer betting against the BTC price, the weekly outflows indicate that they are not banking on its rise either. For clarity, short products allow investors to profit when the price of a cryptocurrency – in this context, Bitcoin – falls. It typically involves borrowing Bitcoin, immediately selling it on the open market, and then buying it back at a lower price to repay the loan. As of this writing, Bitcoin trades at $29,164, with a 0.5% price increase in the past day. According to CoinGecko data, the cryptocurrency continues to lead the market with a market cap of roughly $567.3 billion. “Altcoins Sentiment Seems To Be Improving” While institutional investors continue to take profit from various Bitcoin-related funds, the signs seem positive for most altcoin investment products. According to CoinShares, altcoins (except Ethereum) recorded $3 million in outflows in week 31 of 2023. This trend appears to be gaining momentum, as Solana (SOL) particularly saw a substantial increase in buying pressure from institutions in Europe and the United States in week 32 of 2023. The cryptocurrency registered $9.5 million in weekly inflows, its highest figure since March 2020. Ripple (XRP) and Litecoin (LTC) also saw weekly inflows, recording $0.5 million and $0.46 million, respectively. Uniswap and Cardano, on the other hand, witnessed outflows of $0.8 million and $0.3 million, respectively.

Curve DAO (CRV) encountered notable obstacles in reestablishing its market equilibrium subsequent to a recent breach in its network security. After a network intrusion that jeopardized a portion of Curve DAO’s (CRV) smart contracts and caused a monetary setback of $50 million, the value plummeted drastically. This occurrence prompted numerous investors to bet against their CRV tokens, exacerbating the downward pressure on its valuation. Based on a recent analysis of the price trends, the value of Curve DAO experienced a favorable support level close to the $0.56 threshold. On August 1st, there was an instance of rejection for the lower price, indicating that buyers are accumulating at this reduced price point. Anticipated Curve DAO (CRV) Price Movement In the face of ongoing security concerns, a separate analysis anticipates a substantial 42.1% surge in CRV’s price, propelling it to $0.81 once the security issues are effectively addressed and resolved. Conversely, contrasting predictions foresee a potential 15.7% decline, bringing the value down to $0.48. This shift in sentiment is attributed to a significant number of investors diverting their attention toward competing options within the CRV ecosystem. Examining the daily chart, a notable trend emerges as the CRV price experiences its second reversal from a horizontal support level, indicative of the emergence of a double bottom pattern. Presently, this bullish reversal has facilitated an 8% upsurge, driving the price to its current value of $0.614. Within the framework of the double bottom pattern, an expectation arises for buyers to steer the prices upwards by 20%, seeking to challenge the upper trendline of the channel pattern. The true confirmation of a trend reversal lies in a bullish breakout from this resistance level, which would fortify the validity of the emerging pattern. A Potential Trend Reversal The double bottom pattern is a technical chart pattern observed in financial markets, characterized by two consecutive troughs forming near a common horizontal support level. This pattern suggests a potential trend reversal from a downtrend to an uptrend, as the initial downtrend exhausts itself and buyers regain control, leading to a bullish breakout when the price surpasses the pattern’s resistance level. Should the CRV breakout materialize, a subsequent rally could ensue, targeting an initial goal of approximately $0.08. Following this milestone, a subsequent price objective of $1.1 might come into play, underscoring the potential magnitude of the trend reversal that the double bottom pattern could potentially signify. With a CoinGecko listing of $0.603, the price of CRV demonstrated a 2% decline over the past 24 hours, while it managed a 1.7% increase over the last seven days. (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 CCN.com

Cardano reaches 8th rank with a $10B market cap, as per Santiment. Currently, ADA is trading at $0.29 with a 0.69% dump in the last 24H. In accordance with the metrics and records of Santiment, an analytics platform, the sharks and the whales of the crypto world have accumulated Cardano (ADA) to its current rise compared from its highest since 2022. Moreover, ADA has reached 8th rank with its market capitalization of around $10 billion. Considering the transaction volume of ADA, Santiment reports that the last week remarks the consecutive rise of over 67 billion. Meanwhile, the effective accumulation of Cardano among the crypto investors in the last 6 months is huge. Around 100K to 10M ADA holdings are recorded so far and have included more when the price hits $0.29. The Cardano wallets have accumulated more than $116M since 21st May of 2023. Currently, ADA is trading at $0.292 which has fallen by 0.69%. The on-chain transaction volume is hitting an increase with the concern for graphical statistics. Cardano (ADA) Chart (Source: Santiment) The technical analysis shows that the buyers turned more assertive towards Cardano purchases. Moreover, the whales and sharks constitute the dominance of ADA holders in the bullish state despite the price drop. Furthermore, the recent Q2 report of Messari revealed the decentralized application (dApp) transactions with the tech stats. Cardano’s development team is aggressively working towards creating an effective performance than Ethereum’s development team. Thereby, there is no such launch set for the end of 2023 yet the GitHub repository is active with robust activity. Related Crypto News: How is Cardano (ADA) Performing as of 2023?

On-chain data shows that Bitcoin miners have been expanding their reserves recently, a sign that could be bullish for the asset’s price. Bitcoin Miner Reserve Has Been Trending Up Recently As pointed out by an analyst in a CryptoQuant post, BTC miners have been accumulating during the past 48 days. The indicator of interest here is the “miner reserve,” which measures the total amount of Bitcoin that all miners are holding in their wallets right now. Related Reading: These Bitcoin Metrics Are At Important Retests, Will Bullish Trend Prevail? When the value of this metric goes down, it means that the miners are withdrawing coins from their wallets currently. Generally, these chain validators only transfer coins out of their reserve whenever they want to sell them, so this kind of trend can have bearish implications for the price. On the other hand, the indicator increasing in value implies the miners are adding a net amount of BTC to their wallets. Such a trend can be a sign that these investors are accumulating at the moment, and hence, can be bullish for the cryptocurrency. Now, here is a chart that shows the trend in the Bitcoin miner reserve over the last couple of months: As shown in the above graph, the Bitcoin miner reserve had observed a large rise back in May, but soon after this increase, this cohort started selling as the asset’s price continued to show struggle. After the rally had taken place in June, however, the indicator’s value had stabilized, meaning that these investors were selling the same amount as they were adding to their holdings. In the last few weeks, this sideways trend has slowly turned into an uptrend, as the miners have been gradually expanding their reserves. In the past 48 days, these chain validators have added a total of around 4,060 BTC to their holdings. This amount is worth around $118 million at the current exchange rate, which isn’t a ton given the scale of the total miner reserve, but it’s still nonetheless a positive sign that the miners have been accumulating despite the cryptocurrency’s price observing some decline recently. A notable portion of this latest accumulation by the miners has come from one mining pool, AntPool, as the below chart displays. In the past 52 days, the AntPool Bitcoin mining pool has added a total of about 1,020 BTC to their reserves, which is more than 25% of the total accumulation that all the miners have participated in during this period. The quant has also attached the data for the exchange flows (as well the normal outflows/inflow) for this mining pool. Earlier, there was some concern around the market that these miners may have been selling as they were depositing to exchanges, but as it turned out, this cohort was merely transferring their coins back and forth from these platforms. BTC Price At the time of writing, Bitcoin is trading around $29,100, up 1% in the last week.

Terra Luna has seen the successful approval of community proposals 11658 and 11660, authorizing the retrieval and subsequent incineration of a total of 800 million USTC. The prevailing sentiment within the community leans towards directing these USTC tokens towards the burn address as opposed to reintegrating them into the community pool. Conversely, a noteworthy shift has been detected in LUNC’s staking ratio within the past day, where a previous upward trajectory has now given way to a decline. This alteration in the staking ratio commonly signifies reduced assurance among stakers regarding a specific asset. Here’s what’s going on within the struggling Terra community: Recent Community Decisions Shape Terra Luna Future In a significant turn of events, Proposal 11658 titled “Return of Community funds not used,” presented by Vegas, a former member of the ex-Terra Rebels developer group, has achieved approval with an affirmative vote percentage of 70.27%. Vegas has advocated for the reintegration of 800 million USTC on-chain funds back into the Terra Luna Classic community pool. This proposition stems from the observation that the Ozone Protocol project is presently deviating from the proposed development plan. In a parallel development, Proposal 11660, labeled “Burn 100% of Funds Should Prop: 11658 Pass,” has garnered substantial support, amassing a “Yes” vote share of 82.55%. This counter-proposal asserts that a substantial segment of the community is advocating for the incineration of the 800 million tokens. Consequently, even if Proposal 11658 is ratified, the counter-proposal is poised to take precedence due to its higher vote count. Awaiting the community’s consideration is another proposal, suggesting the burning of 80% of the funds while allocating the remaining 20% to the community pool designated for developers. Notably, this proposal has encountered limited favor, with only 46% of the community showing agreement. The aftermath of these recent updates has naturally sparked curiosity regarding their impact on the price dynamics of LUNC. How are these decisions influencing the valuation of the token? Staking Confidence Wanes As LUNC Faces Price Challenges Bringing the most recent developments to the forefront, there has been a notable decrease in the percentage of LUNC staked within the past 24 hours. This shift indicates that holders and users are opting to un-stake their holdings, signifying a diminished level of trust and confidence in the token’s performance. The implications of this trend raise questions about the current sentiment surrounding LUNC. A fresh analysis of LUNC’s price dynamics reveals that the token’s staking ratio now stands at 14.92%. This percentage signifies the portion of LUNC holdings that have been committed to staking, underscoring the level of engagement and commitment from the community. Meanwhile, as observed on CoinGecko, LUNC is presently valued at $0.000077. Over the preceding 24 hours, the token’s price has experienced a reduction of 1.3%, while its value has declined by 2.7% over the past seven days. These figures shed light on the challenges LUNC currently faces within the market and the potential impact on investor sentiment. (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 Analytics Insight

Hedera (HBAR) price soared over 6% in the last 24 hours and emerged as a gainer. Recently, Hedera formed a key partnership with banking giants and Mastercard. Hedera’s native cryptocurrency, HBAR, has emerged as a prominent player in the gainers list, captivating the attention of both crypto enthusiasts and investors alike. At the time of writing, HBAR was trading at $0.05953 with a 24 hour trading volume of $102 million. The price of HBAR surged over 6% in a day and 17% over the past week. This performance follows a striking +35% surge in the preceding weeks, solidifying its position as a top cryptocurrency gainer. Hedera (HBAR) Price Chart (Source: Tradingview) Taking a closer look at the technical indicators, the daily chart reveals that HBAR’s price has maintained its position above the 50 Exponential Moving Average (EMA), a positive sign indicating an upward trend. On the other hand, the Relative Strength Index (RSI) is currently in an overbought state. This indicates that there might be a slight advantage for the bulls in the short term. This level of RSI could potentially lead to some caution, as an overbought state might hint at a possible corrective pullback or consolidation in the near future. Further, the 50MA near to the 200MA, indicates a potential change in the trend of an asset’s price HBAR’s recent performance has undoubtedly garnered the attention of the crypto community. Also, Hedera has taken more developments and new strategic partnerships. The crypto community has been captivated by HBAR’s recent performance, which has propelled it into the spotlight. In addition to this, Hedera has been actively brings new developments and forming strategic partnerships including, MetaMask and Mastercard, to augment its standing in the market. Highlighted Crypto News Tether (USDT) And USD Coin (USDC): Stablecoin Trends in H1 2023

One of the leading names in the crypto analysis sector, Michael van de Poppe, recently shed light on XRP’s price movements. Known for his crypto observations, his latest tweet has stirred conversations in the crypto community, especially pertaining to Ripple’s native cryptocurrency, XRP. In his most recent analysis, van de Poppe indicated that XRP’s price movement is now at a critical juncture. XRP Entering The ‘Area Of Interest’ Particularly, according to Michael van de Poppe’s tweet, XRP is currently moving into what he terms an ‘area of interest’ on its weekly chart. This essentially points towards potential pivotal moments in the coin’s price trajectory that can be significant for traders. Related Reading: Ripple Report Foresees Blockchain Saving Financial Institutions $10 Billion By 2030 Based on his analysis, the current position of XRP may soon pave the way for a favorable long-trade entry, aligning with the upcoming market cycle. Further expanding on this, he advised traders to remain vigilant and consider buying the dip in the impending weeks. This comes at a time when XRP’s price has seen a decline of over 10% in the past two weeks, a movement influenced heavily by developments with the Securities and Exchange Commission (SEC). As recent data shows, the altcoin experienced a decrease of 10.8% over the previous seven days, positioning its trading value above $0.6. Understanding The Factors Behind The Dip So, what prompted this dip in XRP’s value? Van de Poppe’s analysis provides a perspective. He emphasizes that the significant price fall XRP experienced over the last month is majorly attributed to long-term holders. These holders, witnessing the surge or “heavy impulse” in XRP’s price, saw it as an opportune moment to offload their holdings. Additionally, another notable observation from van de Poppe is the current “lack of interest” in the cryptocurrency markets. This diminished interest, according to the analyst, is responsible for more pronounced price corrections compared to what’s usually seen during bull market cycles. Such market sentiment can significantly influence how cryptocurrencies, including XRP, perform and are perceived by potential investors. Over the past 24 hours, XRP has seen a slight dip of 0.5%. This price action has brought the altcoin to currently trade at a price of $0.61, at the time of writing. Notably, alongside its value, the asset’s market capitalization has also seen a significant plunge dropping by more than $4 billion, in the past week. XRP’s market cap is currently valued at $32.5 billion as of today, losing almost $4 billion compared to the value of $36.3 billion seen last Tuesday. Featured image from iStock, Chart from TradingView

68.54% of Bitcoin has been dormant for a year. Sources reveal investors favor long-term Bitcoin holdings for value. In the cryptocurrency realm, a significant trend emerges as more investors embrace a patient approach. A substantial portion of Bitcoin, about 68.54% of the total supply, has remained dormant for at least a year, reflecting a preference for a long-term investment strategy. Data from Glassnode, a blockchain analytics firm, reveals that 13.3 million Bitcoin, valued at $388.7 billion, have been inactive for over a year. This shift demonstrates a profound change in investment behavior, potentially reshaping the crypto market. Bitcoin Supply Chart, Source: Glassnode Bitfinex analysts note a strong bias toward holding Bitcoin long-term. While some dormant supply may include lost coins, a considerable amount represents a deliberate choice by investors. This trend reached a peak of 69.2% recently. The inactivity duration shows that 56% of the circulating supply has been dormant for at least two years, and an impressive 40% for a minimum of three years. This underscores a shift in sentiment and a belief in BTC’s lasting value, despite market volatility. It’s worth noting that this data doesn’t fully capture BTC’s evolving role. Financialization has introduced innovative investment options like CME’s futures and ETFs, enabling exposure without direct ownership. According to CoinMarketCap, BTC Price currently stands at $29,369 with a high of 1.20%. And the trading volume is up 67.61%, resting at $14,429,775,835. In conclusion, the rise in dormant Bitcoin indicates a broader shift towards patient long-term investment, driven by a belief in Bitcoin’s enduring value.

The stablecoin USDD had been integrated into Alchemy’s Ramp platform. USDD is a decentralized stablecoin introduced by the Tron Network. Alchemy Pay (ACH), a payment solution provider that seamlessly connects fiat and crypto, announced its significant partnership with Decentralized USD (USDD), the first over-collateralized decentralized stablecoin. It will enable individuals to acquire USDD using their fiat currency. On August 8, Alchemy Pay tweeted that it had partnered with USDD. At the start of the collaboration, the stablecoin USDD had integrated into Alchemy’s Ramp platform. This allows users to buy USDD using the local fiat currency and traditional payment options. Recently, the USDD has gained legal recognition as the official digital currency. And it also accepted as the medium of exchange in the Commonwealth of Dominica. Alchemy Pay is Expected to Increase the Usage of USDD USDD, a decentralized stablecoin introduced by the Tron Network, which adopts an over-collateralized approach. The stablecoin fully backed by mainstream digital assets. The partnership with Alchemy Pay expected to increase the usage of USDD among individuals. As of now, the stablecoin USDD is not available for U.S. users. Alchemy Pay has specialized in offering solutions that allow cryptocurrencies and Web3 access to fiat payments, giving more access to individuals. The partnership also involves the future integration of the On-Ramp services. Moreover, With its impressive global presence of around 173 countries and over 300 payment channels, the partnership expected to be one of the most significant moves for the USDD stablecoin. At the time of writing, the trading price of Alchemy Pay (ACH) is $0.01719, with an increase of over 1.95%, in the last 24 hours. Moreover, the daily trading volume of ACH has experienced a surge of over 32.66%, according to CoinMarketCap.

Allows developers and businesses to integrate crypto wallets into their applications, simplifying user access to digital assets and digital currencies like USDC BOSTON–(BUSINESS WIRE)–Circle, a global fintech firm and the issuer of USDC and Euro Coin, today announced Programmable Wallets, a wallet-as-a-service platform for developers to embed Web3 wallets in their apps and deliver user-friendly, blockchain-based experiences for their customers. Available in public beta, Programmable Wallets is the first product to launch under Circle’s Web3 services. Leveraging its acquisition of CYBAVO in 2022, Circle’s new platform provides developers across the world with the technical infrastructure to build, scale and operate customizable on-chain wallets for their own customers. With just a few lines of code, developers can use Programmable Wallets to launch to mainnet faster and deliver more streamlined Web3 experiences on multiple blockchain networks. Circle’s Programmable Wallets enables developers to rapidly create secure Web3 wallets for their users while preserving the UX that users are familiar with. With the wallet operations tools packaged within Programmable Wallets, developers are able to manage blockchain operations and scale their apps with ease. Using familiar APIs and SDKs, the developer’s integration of fully-functional crypto wallets into apps brings new efficiencies for builders, and for users looking to store, send, receive and spend with digital currencies like USDC, or digital assets like NFTs. “Circle’s Programmable Wallets is part of a new, core pillar of our strategy to advance global, mainstream utility and adoption of digital assets like USDC and public blockchain-based payments,” said Jeremy Allaire, CEO and Co-Founder of Circle. “This new platform marks the first step for Circle’s Web3 services as we work to ease common pain points for developers, remove friction from value exchange, deliver more seamless user experiences and help drive blockchain-powered wallet adoption.” Programmable Wallets beta is available for developers and enterprises to use on Avalanche, Ethereum and Polygon, with expansion to additional chains expected in the second half of 2023. “Circle’s Programmable Wallets provides Avalanche developers yet another tool for building smarter and faster,” said John Nahas, VP of Business Development at Ava Labs. “Developers can customize the Web3 wallet experience to match their dApp. Programmable Wallets can be integrated effortlessly – with just a few lines of code and in just a few minutes – and fluidly for end users.” “Circle’s Programmable Wallets adds tremendous functionality for developers building on top of Polygon,” said Jack Melnick, Head of DeFi BD at Polygon Labs. “Developers within our ecosystem are seeking scaling solutions and infrastructure that will deliver more user-friendly features and experiences. Programmable Wallets provides these needs for developers and empowers their users with a secure wallet solution.” To learn more about how Programmable Wallets works, visit our blog here. About Circle Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and Euro Coin – highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com. Programmable Wallets application programming interface (“API”) is offered by Circle Technology Services, LLC (“CTS”). CTS is not a regulated financial services company and the API does not include financial, investment, tax, legal, regulatory, accounting, business, or other advice. For additional details, please visit https://console.circle.com/legal/developer-terms to see the Circle Developer terms of service. Contacts [email protected]

Chennai, one of the epicenters of India’s entrepreneurial energy, witnessed a great union of Tamil Nadu’s largest and most lively startup community at the awe-inspiring Sangamam event last Sunday. Sangamam is a startup networking event hosted by Tamilpreneur, a community built to nurture and grow Tamil-speaking entrepreneurs. In Sangamam, venture capitalists (VCs), stellar entrepreneurs, budding entrepreneurs and startup enthusiasts come together to witness the grandeur of Learning and Networking for over 4 hours. The event’s latest edition held in M2P Fintech Office in Chennai last Sunday saw 150+ people from diverse backgrounds participate. It is generally quite rare to see a huge turnaround for just a startup networking event on a Sunday, but that’s where the strength of the Tamilpreneur community lies. Around 70% of the event attendees were tech startup founders and the rest were budding entrepreneurs. Arun, the Founder and CEO of Guvi, candidly spoke about how he built a 100 Crore INR company with humble background from Madurai and how it inspired him to build a vernacular language-led ed-tech platform that upskills engineers on AI, ML-based programming and coding. Chandrashekar Kupperi from Peaceful Progress spoke about the mistakes early-stage entrepreneurs should avoid in their entrepreneurship journey while quoting examples from some of the notable investments in startups that grew into million-dollar companies. Vineeth Vijayaraghavan who represented SPI Family Office gave a pep talk on how wisely entrepreneurs should choose investors and the need for entrepreneurs to look for values investors can offer other than just money. Rohit Mohan, the founder of NC Global Media, highlighted the impact of blockchain technology and how one of their initiatives ‘NC BlockFiesta’ aims to inspire 5 million college students. Krishna from JusDB emphasized the impact of how startups can build scalable data solutions on the cloud and on-premises while Sudarshan from Navabrind spoke about how e-commerce websites can leverage AI-powered Software as a service (SaaS) solutions to bring more sales. “Sangamam is the comfort zone you don’t want to step out of while networking”, says Tamilpreneur Founder Shyam, as he mentions that people have a sense of belonging and feel a deep-rooted connection as the entire event proceeds majorly in Tamil. Tamilpreneur has been hosting Sangamam month on month since March 2022. And so far 13 exclusive editions were hosted across Chennai, Coimbatore, Trichy and Tirunelveli. Some of the startups that pitched in the event raised funds while some of the budding entrepreneurs who just had ideas back then met and onboarded their co-founders into their startups. He mentions that “if people who are from Tier 2 and Tier 3 cities are provided with the right amount of motivation, awareness and capital, we would be able to bring Tamilnadu into Top 5 states in terms of startup rankings. When I started Tamilpreneur in 2019, we were not even in the Top 20. Today we are in the top 10!” Spearheading the entrepreneurship ecosystem in Tamilnadu, Tamilpreneur has been helping entrepreneurs since March 2019 and has so far impacted the lives of 5000+ entrepreneurs. Shyam and Praveen who are co-founders at Tamilpreneur quit their jobs at Mitsubishi Heavy Industries and Zoho respectively in 2021 to venture into Tamilpreneur full-time. While maintaining a strong presence offline, Tamilpreneur also hosts the largest online community, the Tamilpreneur Club with a cohort of around 1200 Tamil-speaking entrepreneurs from across 10+ States in India and 20+ countries in the globe. Interestingly with Tamilpreneur Club, the cost of learning about entrepreneurship is more affordable than what people spend for entertainment on some of the OTTs. At just Rs.999 a year, a member gets several benefits such as access to an app-based digital community to network with like-minded people and crack business deals. They also provide opportunities for the founder to interact online directly with stellar entrepreneurs. The platform already has 25+ recorded sessions of interviews with startup founders. Their flagship Online Startup Masterclass which is also part of Tamilpreneur Club membership helps people learn directly from entrepreneurs and experts who are revolutionizing great paths. The sessions are organized into three stages — Idea, Early, and Growth — and contain sessions such as how to find your investor, how to pitch to a VC, Basics of Sales, Basics of User Research and 20 more sessions on different topics. Tamilpreneur Club is open to all entrepreneurs and one can visit the official website to avail of the subscription. With all this, Tamilpreneur targets to bring 1 lakh Tamil-speaking entrepreneurs by 2025 and make Tamilnadu rank number 1 in the Indian Startup Ecosystem. About Tamilpreneur Tamilpreneur is a dynamic startup that powers the entrepreneurial revolution in South India by uniting Tamil Nadu’s biggest startup community. A group of entrepreneurs, whose roots lie in a groundbreaking regional language (Tamil) podcast, initiated a mission to support and encourage students and budding entrepreneurs based out of Tamil Nadu. The community has laid a strong foundation to transform entrepreneurial visions into reality with startups of enormous dreams. Tamilpreneur fosters ideation, and collaboration, and provides mentorship to eager minds, supporting them with funding to bring their ideas to life. Through their initiatives such as Tamilpreneuer Club and Sangamam event, they rightly facilitate the convergence of great ideas and the startup ecosystem. Website | Twitter | Facebook | Instagram | YouTube About NC Global Media NC Global Media is a blockchain media and marketing company founded in 2020. The company has established its unique niche in the blockchain industry by collaborating with 100+ leading blockchain clients and firms worldwide. The company operates from its headquarters in Dubai, UAE, and also in the branch office in Chennai, India. NC Global Media owns an in-house news portal called TheNewsCrypto. We position ourselves as active advocates of blockchain technology in the space. Our flagship initiative, NC BlockFiesta, aims to educate the younger generation in Indian institutions about this cutting-edge technology. Website | LinkedIn | Twitter | Facebook | Instagram