Messari’s report on Cardano has revealed key metrics on dApp transactions. Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023. Bringing up promising developments in blockchain technology with innovation has been the activity of Cardano (ADA) in recent times. Meanwhile, crypto investors await the usual monthly performance in the crypto market. Cardano (ADA) 24H Price Chart (Source: CoinMarketCap) The overall crypto market is currently down by 0.42% in the last 24H at the time of writing. Alongside, the trading volume of ADA has drastically fallen by 33.20% in its current circulation supply of around 35,017,542,397 ADA which is nearly 78% of its total supply. Also, the market capitalization dropped comparatively over the last week. Thus, losing out the 7th spot to Dogecoin, and now ranking in the 8th position as per CoinMarketCap. Cardano’s Q2 2023 Analysis Messari, the leading provider of crypto market intelligence products has shed light on the performance of Cardano in Q2 2023. This gives key insights including the Cardano transactions on the Quarter on Quarter (QoQ) variation in the decentralized applications (dApps) along with the overall technical measures. Providing prioritized security and sustainability to the dApps, Cardano proceeds ahead toward the Voltaire phase together with the group of community developers supported by multiple entities. As of June 30, 2023, the percentage change of QoQ in Cardano noted from various sources is pointed out by Messari. The average daily volume of dApps trades increased by 49% quarter over quarter. While Minswap’s growth was the highest, other new dApps helped the overall rise. TVL (USD) was up 9.7% QoQ and 198.6% YTD. Cardano climbed the TVL ranks from 34th to 21st among all chains through 2023. Hydra Proposed topologies, enthusiasm from ecosystem teams, and an exhibited demo all indicate that work is proceeding apace. Cardano’s Development As per crypto analyst Ali, Cardano’s Github repository performance in development activities has been 3x compared to Ethereum’s. The analyst also mentioned that Cardano’s Founder, Charles Hoskinson, and the IOHK team deeply raced as 3rd generation blockchain platform. The efficient work with their dedication has proven results on Cardano over the graph metrics shared by Ali. The GitHub repository is been actively performing well and is robust with strong network security. On the other hand, several dApps of Cardano aren’t set to launch by the 2023 end due to their challenges and operational factors. Yet, the surge in other parameters might give a boost to evolve over this situation. Related Crypto News: Cardano (ADA) Price Shows Resilience; Possible Upside Ahead

Valkrie aims to convert its current fund, $BTF, into a dual Bitcoin and Ether ETF. The company will take a strategic leap designed to put it ahead of the 13 other ETFs. Valkyrie, a major participant in the financial industry, has filed a Form 497 detailing their ambitious goal to convert their current fund, $BTF, into a revolutionary dual Bitcoin and Ether Exchange-Traded Fund (ETF) ahead of time. Bloomberg’s ETF Analyst, Eric Balchunas, claims that on October 3rd, the company will take a strategic leap designed to put it ahead of the pack of 13 other ETFs. Valkyrie’s calculated risk seems to rest on altering the course of its existing fund as opposed to launching a whole new organization. Despite doubts cast by certain investors about the strategy, market watchers believe it may be necessary to stick to the predetermined schedule. Balchunas drew comparisons between this move and the pioneering tactic of the first pot ETF, $MJ, to seize the market lead. Ahead of the Pack This fascinating turn of events comes after the SEC gave the go-ahead to evaluate Valkyrie’s second-spot Bitcoin ETF application. Following the SEC’s acceptance of BlackRock’s Bitcoin ETF application on July 13th, this moment effectively highlights the SEC’s heightened interest in ETF proposals. While Valkyrie’s daring action garners attention, the financial world anxiously awaits the outcome. If the SEC gives its OK, Valkyrie will be the first to make it over the top. With the Bitcoin and Ether ETF launching earlier than expected, market dynamics have become considerably more intriguing. Thus, the expansion of the cryptocurrency market may usher in a new era for exchange-traded funds (ETFs). However, the U.S. SEC has previously stated that it cannot approve a spot ETF due to market manipulation and inadequate investor protection. Highlighted Crypto News Today: Coinbase CEO Commits Staying in the US Despite Regulatory Scrutiny

Bullish BAT price prediction for 2023 is $0.2909 to $0.3820. Basic Attention Token (BAT) price might reach $0.5 soon. Bearish BAT price prediction for 2023 is $0.1606. In this Basic Attention Token (BAT) price prediction for 2023, 2024-2030, we will analyze the price patterns of BAT by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Basic Attention Token (BAT) Current Market Status What is Basic Attention Token (BAT)? Basic Attention Token (BAT) 24H Technicals BASIC ATTENTION TOKEN (BAT) PRICE PREDICTION 2023 Basic Attention Token (BAT) Support and Resistance Levels Basic Attention Token (BAT) Price Prediction 2023 — RVOL, MA, and RSI Basic Attention Token (BAT) Price Prediction 2023 — ADX, RVI Comparison of BAT with BTC, ETH BASIC ATTENTION TOKEN (BAT) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ Basic Attention Token (BAT) Current Market Status Current Price $0.204 24 – Hour Price Change 1.90% Down 24 – Hour Trading Volume $31,647,076 Market Cap $303,860,452 Circulating Supply 1,489,852,087 BAT All – Time High $1.92 (On Nov 28, 2021) All – Time Low $0.06621 (On Jul 16, 2017) BAT Current Market Status (Source: CoinMarketCap) What is Basic Attention Token (BAT) TICKER BAT BLOCKCHAIN Ethereum CATEGORY Utility Token LAUNCHED ON May 2017 UTILITIES Governance, Fast Transactions, gas fees & rewards Basic Attention Token (BAT) is the utility token of a blockchain-based digital advertising platform of Brave. The Brave web browser is a secure, privacy-focused browser. BAT can be regarded as the Ethereum Ad Token that was launched as an ERC-20 token in 2017. A basic Attention Token (BAT) is used as the payment token rewarded to users for viewing ads via Brave. Users, content creators, and advertisers deploy BAT as a mode of exchange. With BAT, Brave browsers confer even more privacy and anonymity to internet users. Basic Attention Token 24H Technicals (Source: TradingView) Basic Attention Token (BAT) Price Prediction 2023 Basic Attention Token (BAT) ranks 103rd on CoinMarketCap in terms of its market capitalization. The overview of the Basic Attention Token price prediction for 2023 is explained below with a daily time frame. BAT/USDT Horizontal Channel Pattern (Source: TradingView) In the above chart, Basic Attention Token (BAT) laid out a Horizontal Channel Pattern, Horizontal channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it. A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation. At the time of analysis, the price of Basic Attention Token (BAT) was recorded at $1.92. If the pattern trend continues, then the price of BAT might reach the resistance levels of $0.2317, $0.3308, and $0.5808. If the trend reverses, then the price of BAT may fall to the support of $0.1629. Basic Attention Token (BAT) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Basic Attention Token (BAT) in 2023. BAT/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as resistance and support levels of Basic Attention Token (BAT) for 2023. Resistance Level 1 $0.2909 Resistance Level 2 $0.3820 Support Level 1 $0.2140 Support Level 2 $0.1606 BAT Resistance & Support Levels Basic Attention Token (BAT) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (BAT) are shown in the chart below. BAT/USDT RVOL, MA, RSI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the current Basic Attention Token (BAT) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $0.1980Price = $0.2044 (50MA< Price) Bullish/Uptrend Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 52.48 <30 = Oversold 50-70 = Neutral>70 = Overbought Neutral Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak volume Basic Attention Token (BAT) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Basic Attention Token (BAT) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). BAT/USDT ADX, RVI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the price momentum of Basic Attention Token (BAT). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 36.7275 StrongTrend Relative Volatility Index (RVI) Volatility over a specific period 59.39 <50 = Low >50 = High High volatility Comparison of BAT with BTC, ETH Let us now compare the price movements of Basic Attention Token (BAT) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs BAT Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of BAT is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of BAT also increases or decreases respectively. Basic Attention Token (BAT) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Basic Attention Token (BAT) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price Basic Attention Token (BAT) Price Prediction 2024 $0.8 $0.2 Basic Attention Token (BAT) Price Prediction 2025 $1.4 $0.4 Basic Attention Token (BAT) Price Prediction 2026 $2.1 $0.9 Basic Attention Token (BAT) Price Prediction 2027 $3 $1 Basic Attention Token (BAT) Price Prediction 2028 $3.7 $1.2 Basic Attention Token (BAT) Price Prediction 2029 $4.9 $1.5 Basic Attention Token (BAT) Price Prediction 2030 $5.5 $1.6 Conclusion If Basic Attention Token (BAT) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Basic Attention Token (BAT) price prediction for 2023 is $0.3802. Comparatively, if unfavorable sentiment is triggered, the bearish Basic Attention Token (BAT) price prediction for 2023 is $0.1606. If the market momentum and investors’ sentiment positively elevates, then Basic Attention Token (BAT) might hit $0.5. Furthermore, with future upgrades and advancements in the Basic Attention Token ecosystem, BAT might surpass its current all-time high (ATH) of $1.92. and mark its new ATH. FAQ 1. What is Basic Attention Token (BAT)? Basic Attention Token (BAT) is the utility token of a blockchain-based digital advertising platform of Brave. The Brave web browser is a secure, privacy-focused browser. 2. Where can you purchase Basic Attention Token (BAT)? Basic Attention Token (BAT) has been listed on many crypto exchanges which include Binance, OKX, Deepcoin, Bybit, and Bitrue. 3. Will Basic Attention Token (BAT) reach a new ATH soon? With the ongoing developments and upgrades within the Basic Attention Token Platform, BAT has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Basic Attention Token (BAT)? On Nov 28, 2021, Basic Attention Token (BAT) reached its new all-time high (ATH) of $1.92. 5. What is the lowest price of Basic Attention Token (BAT)? According to CoinMarketCap, BAT hit its all-time low (ATL) of $0.06621, On Jul 16, 2017. 6. Will Basic Attention Token (BAT) reach $0.5? If Basic Attention Token (BAT) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.5 soon. 7. What will be Basic Attention Token (BAT) price by 2024? Basic Attention Token (BAT) price is expected to reach $0..8 by 2024. 8. What will be Basic Attention Token (BAT) price by 2025? Basic Attention Token (BAT) price is expected to reach $1.4 by 2025. 9. What will be Basic Attention Token (BAT) price by 2026? Basic Attention Token (BAT) price is expected to reach $2.1 by 2026. 10. What will be Basic Attention Token (BAT) price by 2027? Basic Attention Token (BAT) price is expected to reach $3 by 2027. Top Crypto Predictions Dogecoin (DOGE) Price Prediction 2023 Bitcoin Cash (BCH) Price Prediction 2023 Solana (SOL) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

London, United Kingdom, August 5th, 2023, Chainwire Decentralized hedge fund VC Spectra has reported strong demand for its Stage 2 presale. The token sale has drawn considerable interest from early investors and underlined VC Spectra’s potential to redefine the crypto industry. Priding itself on democratizing access to investment opportunities, VC Spectra has carved a distinct niche for itself. The on-chain hedge fund extends the availability of early-stage investments to non-accredited investors, thereby bridging a significant market gap. Investors opting for the SPCT token can leverage an array of unique benefits. These perks include quarterly dividends and buybacks, voting rights, and early access to initial coin offerings (ICOs). The SPCT token, developed on the Bitcoin blockchain using the BRC-20 standard, provides a robust mechanism for decentralized trading, asset management, and transaction facilitation within the Spectra platform. The Spectra Token (SPCT) is the main currency within the Spectra ecosystem, enabling access to different services on the platform. By implementing a deflationary model featuring a burn mechanism for the SPCT token, the decentralized hedge fund aims to decrease token circulation gradually. When coupled with VC Spectra’s unique investment offerings, this novel approach further solidifies SPCT ‘s standing in the crypto market. The Vc Spectra public presale is currently in Stage 2 and has already seen robust demand. The SPCT token, which started at $0.008 during Stage 1, increased to $0.011 in Stage 2. In the upcoming Stage 3, the token price will increase to $0.025. This is an increase of 213% from the initial token price. Currently, VC Spectra (SPCT) is offering a 25% bonus for all investor deposits. About VC Spectra Spectra is a leading firm driving innovation in Fintech and blockchain through strategic investments and ICOs, empowering financial growth by harnessing cutting-edge technologies. Spectra VC is a venture capital fund that invests in blockchain and technology-based projects with the goal of generating returns for investors. Find out more about the VC Spectra presale here: Presale | Website | Telegram | Twitter Contact Paul Hubward VC Spectra [email protected]

The logo is the global ruble sign within a circle, and it comes in four color schemes. On July 24th, the digital ruble bill was signed into law by the Russian President. The Bank of Russia (BoR) has unveiled the official logo for the CBDC initiative it has been developing in Russia. Commission fee rates have also been released by the central bank, and they are expected to rise above zero in 2025. The Bank of Russia (BoR) unveiled the official identity of its digital currency, the digital ruble, on August 3. The logo is the global ruble sign within a circle, and it comes in four different color schemes: red and white, black and white, black and red, and black and black. The BoR also unveiled the commission rates for certain CBDC transactions with the new logo. All services will be provided at no cost until the end of 2024; however, beginning in 2025, a fee of 15 rubles ($0.16) will be charged for each business-to-business transaction, and 0.3% of the entire transaction value will be charged when people transfer money to commercial accounts or pay for government services. No Compulsion on Utilization On July 24th, the digital ruble bill was signed into law by Russian President Vladimir Putin. Officially launching with a trial group of 13 local banks, the CBDC is scheduled to become operational on August 1, 2023. Moreover, the Central Bank of Russia (BoR) will play a pivotal role in maintaining the digital ruble network. The currency may be used to make purchases and send money to other people. BoR Governor Elvira Nabiullina recently clarified that the CBDC would function alongside cash and non-cash rubles, meaning that citizens will not be compelled to utilize the CBDC. Olga Skorobogatova, deputy governor of the BoR, has said that widespread use of the digital ruble in Russia is not expected until 2025 or 2027. Highlighted Crypto News Today: Coinbase CEO Commits Staying in the US Despite Regulatory Scrutiny

July 20, 2023 — Galactica.com is delighted to announce the launch of its public DevNet. The team behind the platform invites developers, blockchain enthusiasts, and early adopters to join the DevNet and experience Galactica Network’s tech stack first-hand. The protocol’s DevNet offers users the chance to get acquainted with the pivotal technology at the heart of the Galactica Network: zero-knowledge KYC (zkKYC) that enables web3 firms to achieve regulatory compliance without compromising user privacy. Setting the stage for regtech interoperability, Galactica Network seeks to provide a rich substrate for new instruments at the intersection of DeFi and TradFi, and offer better alternatives to the way identity and reputation are handled off and on chain. Developers ready to dive into Galactica Network’s framework can find detailed documentation here: Developer Documentation. This contains comprehensive release notes, dev docs and guides. This DevNet is an early version of the Galactica Network. The team is eagerly seeking feedback and suggestions to improve and evolve the platform, thereby ensuring the best possible on-chain experience for its users. Mark – a co-founder of Galactica Network notes: “As the Founder of Galactica, I am proud to unveil our public DevNet, a gateway to a new era of compliant privacy in the blockchain space. With zero-knowledge KYC (zkKYC) at its core, Galactica Network disrupts the RegTech landscape, providing a rich substrate for DeFi and TradFi convergence. Join us on this revolutionary journey, where identity and reputation find harmony on and off the chain.” Users can deploy applications that utilize zkKYC on the Galactica DevNet. Additionally, the team is currently accepting Requests for Proposals (RFPs). Rewards include Galactica Network Citizenships, grants and more. More information is available here. Come be a part of the revolutionary blockchain experience that’s set to transform the Web3 space. Join Galactica Network’s DevNet! About Galactica Network Galactica Network is L1 with the most flexible RegTech stack and DeSoc primitives. By leveraging zkKYC, dynamic whitelisting primitives and proofs over users’ web3 footprints, it achieves a strong form of Sybil resistance and enables protocol level compliant privacy. Press contact Galactica Network Mike Sarvodaya [email protected] Panama City, Panama Contact Details – Name : Antony Jackson Email : [email protected] Phone Number : 7397349813 Company Name : Thenewscrypto City : Bangalore Country : India

Ten state authorities have been looking into Coinbase and its staking services. The U.S. Securities and Exchange Commission has also filed a lawsuit against Coinbase. Coinbase CEO Brian Armstrong has allegedly gone back and forth on whether or not the company would relocate outside of the United States due to regulatory uncertainties. As reported by the Financial Times on August 4, Armstrong said that Coinbase will be “staying in the United States” despite several other crypto businesses contemplating not doing the same in light of the possible threat of legal action from authorities. Increased Regulatory Scrutiny Ten state authorities have been looking into Coinbase, and the exchange’s staking services have been the subject of many cease-and-desist orders. The U.S. SEC has also filed a lawsuit against Coinbase. CEO of Coinbase allegedly said that leaving the United States was “not even in the realm of possibility right now” and that there was no “break glass plan.” However, owing to the lack of legal certainty, Armstrong allegedly said at a fintech event in London back in April that the exchange may consider moving its base from the U.S. to a more crypto-friendly jurisdiction. He subsequently reassured investors that Coinbase was “100% committed” to the American market. On June 6, approximately three months after receiving a Wells notice for allegedly providing unregistered securities, the SEC filed a complaint against Coinbase. On August 4th, Coinbase’s legal team submitted a request to dismiss the action. Potentially far-reaching consequences for U.S. crypto businesses hang on the result of the SEC’s lawsuit against Coinbase. In the XRP vs SEC lawsuit, a federal court determined in July that XRP was not a security. Coinbase’s chief legal officer Paul Grewal is among the lawmakers and solicitors who have used the verdict to defend the industry. Highlighted Crypto News Today: Actor Adam Devine Seen in New Crypto Ad Endorsing Bitget Exchange

In a report released on August 4, ARK Invest’s on-chain researcher David Puell reveals factors that could lead to another Bitcoin rally. The report, titled “The Bitcoin Monthly: July 2023,” provides an in-depth analysis and distinguishes between Bitcoin’s current situation and what the future holds for the largest cryptocurrency by market cap. Some Positives For Bitcoin Puell highlights how Bitcoin’s tepid 90-day volatility shares similarities with 2017 levels. According to the report, this prolonged low volatility usually represents the ‘calm before the storm,’ with Puell speculating that a significant price movement will likely happen soon. However, whether it will be a breakout or a breakdown remains uncertain. There is cause for optimism, though, as the decrease in hash rate on the blockchain provides an optimistic signal. The decrease could signify oversold conditions – whereby Bitcoin is currently trading below its actual worth, and considering that it has traded at an undervalued price for a long while now, we could see an upward trend, which would signify a price reversal. Additionally, there has been an increase in “liveliness” as selling pressure has reduced and more holders are choosing to ‘HODL.’ The report states that liveliness fell below 60% in July, the lowest selling pressure since Q4 of 2020. The short-term holders’ profit/loss ratio also coincides with historical trend reversals, signifying that a breakout is more likely to occur. The report states: Meanwhile, the Federal Reserve’s continued hike rate has been known to be a macro factor on Bitcoin and the crypto market. Puell believes that the Fed’s actions could significantly impact Bitcoin’s performance and the economy as a whole. A potential slowdown in CPI (consumer product index) inflation could see a surge in Bitcoin’s appeal as a non-inflammatory asset. Binance Could Have A Domino Effect On BTC The United States Securities and Exchange Commission (BTC) filed a lawsuit against Binance for trading unregistered securities, amongst other allegations. This ongoing legal tussle could affect Bitcoin’s performance and the crypto market. According to the report, Binance’s BNB token ensures stability in the crypto market by providing significant liquidity for other cryptocurrencies, including Bitcoin. If sentiments begin to tilt in favor of the SEC and DOJ, it could trigger a “bank run,” which would see BNB’s price plummet, causing a domino effect on the crypto market. While historical trends signify a bullish trajectory for Bitcoin’s price, the token might be marred by macroeconomic forces and regulatory concerns. It is believed that Bitcoin breaching the resistance level at $29,450 could shape its future outlook. As Bitcoin continues to witness a downward trajectory, that resistance level might be the key to a sustained breakout or further consolidation.

The collaboration is a part of the company’s current #SetForChange campaign. Lionel Messi is presently representing Bitget as a brand ambassador. As part of its marketing efforts, crypto derivatives trading platform Bitget recently revealed a one-year collaboration with actor and comedian Adam Devine. In a new commercial that went online on Friday morning, Devine advises viewers to “read the reviews before buying anything, because looks can be deceiving,” before turning to a man playing the sad trombone after purchasing what he thinks is a rocket ship but is really a small model. Crypto-friendly Future Moreover, the collaboration is a part of the company’s current #SetForChange campaign, which aims to attract a younger audience who are already aware of Devine’s work. Bitget’s managing director Gracy Chen stated in a news release that public figures like Devine will play a crucial role in ushering in a “crypto-friendly future.” An increasing amount of emphasis is being placed on Artificial Intelligence (AI), and the business has been hard at work integrating what it calls “smart tools” to increase Web3’s capabilities. In the wake of Crypto.com’s introduction of an advertisement starring actor Matt Damon saying “fortune favors the brave” and equating crypto investors to arctic explorers, the Wright brothers, and astronauts, Devine is one of the most notable personalities to work with a crypto firm. In addition, Lionel Messi, the Argentine football superstar, is presently representing Bitget as a brand ambassador. Also, two weeks ago, BitGet launched its rebranding plan with a new logo, updated aesthetic components, and the catchy slogan “Trade smarter.” Furthermore, for their alleged roles in promoting cryptocurrencies without appropriate disclosures, the U.S. SEC has launched lawsuits against a number of prominent celebrities. Highlighted Crypto News Today: Coinbase Files Brief Seeking Dismissal of SEC Lawsuit

Coinbase’s Head of Research, David Duong, has shared his insights on the recent market movements in traditional finance and crypto. He believes that current macro conditions suggest a temporary pause in the recent strong USD trend, which should support the crypto market. Key Crypto & Finance Movements Duong notes that the recent carry trades upset by the Bank of Japan’s decision to raise the hard cap on its 10-year bond yield have created instability across different pockets of the FX market. Meanwhile, the surprise decision by Brazil’s central bank to cut its benchmark SELIC rate by 50bps (compared to expectations of 25bps) has led to higher interest rates in some price currencies coming down. In the US, the yield curve steepened significantly following the rally in Treasury bonds only two weeks ago, as the US Treasury Department announced an increase in the size of its debt issuance plans. Although Fitch cut the US debt rating from AAA to AA+ due to concerns about the fiscal outlook, Duong believes this impact on bond yields was fairly limited. Duong emphasizes that the US dollar is more sensitive to front-end rates, and the 2y yield seems well anchored. This suggests a temporary pause in the recent strong USD trend, which should support the crypto market. However, he expresses concern that crypto performance may recouple with US equities in the short term, which may cap the upside on digital assets due to stretched valuations. Duong also discusses the recent exploit of four liquidity pools on Curve, which didn’t help risk appetite in the crypto space but didn’t sustainably accelerate the downtrend that’s been ongoing since mid-July. He believes the actual systemic risk associated with the exploit is limited by mitigating factors that offset some attack vulnerabilities. He also thinks this is not evidence of DeFi’s weakness but highlights the system’s antifragile properties. Regarding market catalysts, Duong mentions the court decision in the Grayscale case (to convert its trust to an ETF), distributions from the Mt Gox Rehabilitation Trust to creditors, and any movement on the various Bitcoin spot Exchange-Traded Fund (ETF) applications in the US. However, he notes that all those events are difficult to position for, so the market will have to wait for more information before pricing them in. Duong notes that flows on the desk have been balanced in the majors while altcoins have been net for sale. He also highlights Optimism’s OP token, which has traded better than expected, up 15% over the last 7 days, primarily attributed to the news around Base, Coinbase’s L2 on Ethereum. That chain, built on the OP stack, will broadly open on August 9. The total market capitalization of the cryptocurrency market stands at $1.13 trillion, which is consistent with its trading level since the start of August. Additionally, Bitcoin’s dominance level is at 50.25%, while its price is currently trading at $29,216, showing a slight decline of 0.1% over the last 24 hours. Featured image from iStock, chart from TradingView.com

In a surprising turn of events, the hacker known as the “Alchemix/Curve Finance Exploiter” has returned a total of 4,819.55 alteth and 6106 Ethereum (ETH) to Alchemix Finance, as reported by the journalist Colin Wu. The hacker, who had gained unauthorized access to the protocol, had earlier demanded that the Alchemix Finance team confirm the address to which they wanted the stolen funds returned. Curve Finance Breach Ends On Positive Note Curve Finance has announced the return of stolen funds worth over $60 million, which were taken in a recent exploit. As reported by NewsBTC, the protocol had issued a statement on Etherscan, urging the hackers to return the funds, and offered a 10% reward for their return. The hackers have agreed to return the funds, keeping 10% of the stolen amount. The attack on Curve Finance, which took place on July 30th, significantly impacted the decentralized finance (DeFi) sector and raised concerns about its security. The hack targeted several pools on Curve Finance, withdrawing more than $47 million from various DeFi projects. This led to a drop in the value of Curve DAO (CRV), prompting its founder, Michael Egorov, to sell off the asset to save it. Following the attack, Curve Finance has taken measures to improve its security, including updating its contracts and implementing stricter security protocols. The protocol has also called on the hacker to return the stolen funds and offered a reward for their cooperation. The hack had caused significant concern among the cryptocurrency community. Still, the Alchemix Finance team’s swift response and the hacker’s decision to return the stolen funds demonstrate the importance of protocols taking swift action to protect their users and assets. CRV Sees Strong Trading Volume Despite Recent Hack Curve Finance is one of the largest decentralized exchanges (DEXs) in the cryptocurrency market, with a total value locked (TVL) of $2.349 billion, according to data from DeFiLlama. The exchange has a market capitalization of $540.35 million and a fully diluted valuation of $2.035 billion, making it a significant player in the DeFi ecosystem. The Curve Finance token (CRV) price currently stands at $0.62, with a 24-hour trading volume of $177.09 million. The staked amount of CRV is $432.64 million, representing approximately 80.07% of the market capitalization of the protocol. The data from DeFiLlama highlights the significant role that Curve Finance plays in the DeFi sector, with a substantial TVL and a high level of staked tokens. The liquidity available for trading on the exchange is also significant, with a high annualized trading volume and fees. The revenue generated by Curve Finance demonstrates the potential for decentralized exchanges to become profitable businesses, offering a viable alternative to centralized exchanges. Overall, the data from DeFiLlama highlights the significant role that Curve Finance plays in the DeFi ecosystem and the potential for decentralized exchanges to become profitable businesses. With its high TVL, staked tokens, and liquidity, Curve Finance is well-positioned to continue its growth and become a leader in the DeFi sector. Featured image from Unsplash, chart from TradingView.com

The lawyers also made a reference to the recent XRP case decision. Coinbase and Binance were sued by the SEC in June 2023. On Friday, Coinbase submitted a brief to the court hearing the SEC case against them, asking that the charges be dropped. The exchange contended in its brief that, contrary to decades of Supreme Court precedent, it does not provide investment contracts. This comes at a time when lawmakers and authorities in the United States are under growing pressure to clarify the legal framework governing the cryptocurrency industry. Memorandum of Law Submitted In the United States District Court for the Southern District of New York, lawyers for the cryptocurrency exchange submitted a memorandum of law in support of Coinbase’s move for judgment on the pleadings. They said the SEC had disregarded due process by changing its mind on how the securities laws should be interpreted. Paul Grewal, chief legal officer of Coinbase stated: An extraordinary leap, the lawyers said, for the agencies to try to depict a straightforward asset sale as a security. The lawyers also made a reference to the recent XRP case decision. In its most recent filing, the exchange argued that the SEC’s Exchange Act allegations should be dismissed because the SEC’s complaint does not allege the necessary components of an investment contract. Coinbase and Binance were sued by the SEC in June 2023 for allegedly breaking securities laws. The exchange posted results that were above Wall Street forecasts for the second quarter earlier on Thursday. Highlighted Crypto News Today: Revolut Suspends Crypto Trading Services for U.S Customers

On-chain data shows the Bitcoin Network Value To Transactions (NVT) ratio has formed a bearish crossover, a sign that a decline may be imminent. Bitcoin NVT Ratio Has Formed A Historical Bearish Crossover The “NVT ratio” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume. In simple terms, what this metric tells us is whether the asset’s price (the market cap) is fairly valued compared to the network’s ability to transact coins (the transaction volume). When the ratio has a value above 1, it means that the price may be overinflated right now, as the blockchain isn’t observing the shift of any significant amount of capital. The risk of a correction taking place generally goes up the higher the metric trends above this mark. On the other hand, the indicator being below the threshold can imply that the market cap may be undervalued currently, and thus, a price surge may be due for the asset. In the context of the current discussion, the NVT ratio itself isn’t of interest, but rather a modified form called the “NVT golden cross” is. This metric compares the short-term moving average (MA) of the NVT ratio (10-day) to its long-term MA (30-day). As pointed out by an analyst in a CryptoQuant post, this NVT golden cross may be forming a pattern currently that could lead to a correction in the asset’s price. The below chart shows the trend in the Bitcoin NVT golden cross and the 30-day exponential moving average (EMA) of the same over the past year: As displayed in the above graph, the Bitcoin NVT golden cross has been going down recently and has just crossed under its 30-day EMA. This line appears to have historically been significant for the asset, as the instances marked by the analyst shows. Generally, whenever the indicator has crossed below this EMA line, the cryptocurrency’s value has taken a hit. From the chart, it’s visible that this pattern has already held up a few times during this rally so far. Naturally, if this historical precedence is anything to go by, then the current bearish crossover might also lead to Bitcoin registering a drawdown in the near future. It should be noted, though, that the crossover may not be fully confirmed yet, as the NVT golden cross has only slightly gone below the 30-day EMA so far. So it’s possible that the indicator could turn itself around in the coming days and cancel out the cross. It now remains to be seen, whether the Bitcoin NVT golden cross and the 30-day EMA would keep going in the same trajectories and solidify the cross, or if the pattern would retrace. BTC Price At the time of writing, Bitcoin is trading around $29,200, down 1% in the last week.

XDC Network is now on its way to the $0.1 target price after encouraging price movements over the past weeks. The token is now among the most searched cryptos ranking fourth on CoinMarketCap’s list of trending cryptocurrencies. However, the question remains: How long can XDC sustain these rallies? Are the bulls energetic enough to exceed the anticipated $0.1 price mark? Let’s see XDC Soars Amid Market Downturn, What’s Fueling Its Price Movements? XDC Network is soaring today, August 4, as the broader market slightly improved. With a bullish momentum, the token rose by 16.7% on Friday morning. Also, it emerged as the biggest gainer with over 45% seven-day gain and 162% 30-day value growth. Related Reading: Bitcoin And Crypto Alert: The Implications Of Bill Ackman’s 30-Year T-Bills Short As of July 6, XDC traded at $0.03238 but later climbed to a monthly peak of $0.09092 on August 3, over 180% in the last 30 days. XDC reached a week high of $0.09134 on August 4, a nearly 50% increase from $0.05896 recorded on July 29. These impressive moves have positioned the token as the best-performing cryptocurrency in the 30-day and seven-day timeframe. Although the momentum is still bullish, it has stalled slightly since the asset has shed a few gains and shifted from the day peak of $0.09146 to $0.081. These gains could result from other ecosystem developments, including the partnership between XDC Network and Infocomm Media Development Authority (IMDA) Singapore. According to July 28 Bloomberg report, the crypto project integrated with IMDA’s TradeTrust – a Singaporean framework enables trusted interoperability of electronic trade documents across digital platforms. This collaborative effort will allow IMDA’s TradeTrust to verify and transfer documents. Such capability can enhance trade visibility, proof of authenticity, and origins of documents. The collaboration is expected to enable a seamless and efficient flow of goods between digital trading partners. According to the report, the partnership marks a milestone for the XDC Network, as it could expand its reach and user base. Such growth will likely lead to a significant spike in active transactions and trading activities and it could be among the primary factors fueling XDC’s rallies in the past few days. XDC Market Outlook, More Rallies Possible? The XDC/USD chart shows the token trades below the Moving Average Convergence/Divergence signal line. This indicates a bearish momentum as XDC sheds previous gains. Also, the RSI at 46.75 suggests the asset is approaching the oversold region. Moreover, the bears have formed stiff resistance at the $0.0851 level. They’re ready to push XDC down to lower lows if the bulls fail to regain momentum. However, if the bulls rally enough to push the price above $0.851, the next target zone will be the $0.09166 level, from where XDC will likely shoot to $0.1 if momentum is sustained.

SHIB surged by 5.50% in the last 24 hours. Consequently, the burn rate has faced a drop of 71.81%. Shiba Inu (SHIB), one of the popular memecoin cryptocurrencies has surged abruptly with an increase of 5.50% in the last 24 hours. Meanwhile, SHIB gave a jaw-dropping moment in regard to its last month’s performance with a 16.16% surge. Considering the technical statistics of Shiba Inu, the support and resistance levels are marked as $0.00000830 and 0.00000841 respectively. According to CoinMarketCap, SHIB is trading at $0.000008658 with a volume of 42.11%, ranking 20th position. Shiba Inu (SHIB) 24H Price Chart (Source: CoinMarketCap) SHIB has a market capitalization of around $5.1 billion which has skyrocketed to an increase of 5.25% compared to the previous day. As SHIB counts the infinite maximum supply, the current count falls more than 589T of SHIB tokens in circulation. SHIB Burns & Whales Activity In the last 6 hours, there are two SHIB transactions as per the automated records of Shibburn. Also, the burn rate has faced a 71.81% drop. SHIB Burn (Source: Shibburn) Moreover, there is no unique anticipation of SHIB whale activity over the last week. Yet, there has been a staggering transaction volume of around 1.13T SHIB tokens on its third anniversary day. This is recorded by IntoTheBlock data on Wednesday. Highlighting Crypto News: 36 Trillion Shiba Inu Remain Profitable for Active Addresses During Market Downturn

A recent study by the Bank of Canada (BoC) has shown a decline in the ownership of cryptocurrencies over the two years. The BoC has attributed this decline in crypto ownership to ecosystem collapses, regulatory hurdles, and price depreciation. Bitcoin’s Decline Most Notable According to the Bitcoin Omnibus Survey, Bitcoin’s ownership across the country dipped to 10% at the end of last year. This decline has been attributed to various factors, including the significant drop from its all-time high due to the current market conditions, especially since Bitcoin’s price crashed over 50% from its all-time high of $69,044.77 last year. The survey also cited FTX’s unexpected collapse as contributing to the decline, as it prompted enhanced scrutiny from regulators while also creating doubts in the hearts of crypto investors. The decline in Bitcoin ownership wasn’t a result of investors moving their money to other crypto assets given that altcoins also suffered a similar fate to Bitcoin, as ownership in these digital assets also experienced a downward trend last year. The report read: There are some positives for Bitcoin and the crypto ecosystem, as Bitcoin’s ownership is still higher than the 8% recorded between 2018 and 2020. Another silver lining is that many locals are aware of Bitcoin (meaning they could invest in it in the near future), as general awareness of the token has been at an impressive 90%. However, despite being aware of the term Bitcoin, many Canadians still don’t understand how the cryptocurrency operates. According to the BoC’s research methodology, 61% of non-bitcoin owners showed low crypto literacy. Meanwhile, a meager 30% of Bitcoin owners exhibited high-level crypto literacy. Financial Literacy Doesn’t Equate To Crypto Enthusiasm Many would have predicted that persons with higher financial literacy would be more bullish on Bitcoin and other crypto assets. However, that isn’t the case in Canada, according to the survey. Interestingly, respondents with a high financial literacy were the ones who were quick to exit the crypto market. In contrast, those with a lower financial literacy remained bullish despite the market conditions and regulatory concerns. While these figures may not be so encouraging, there is enough reason to believe that the growing adoption of cryptocurrencies worldwide will impact the future of crypto ownership in the country as more locals gain crypto literacy. Furthermore, efforts from the authorities to provide regulatory clarity could also help as it will boost investors’ confidence in the country and consequently increase crypto ownership in the country.

Less than one percent of Revolut’s crypto clients would be affected, the firm said. Regulatory scrutiny against cryptocurrencies has increased dramatically in the U.S. Revolut has decided to discontinue offering cryptocurrency trading services to US users as of September 2023. This is due to regulatory uncertainties in the US. On Friday, August 4th, a Revolut representative stated that from September 2nd, the company will no longer enable customers in the United States to purchase cryptocurrencies using its app. The spokesperson said: Increased Regulatory Scrutiny Less than one percent of Revolut’s crypto clients would be affected, the firm said. The London-based fintech company has said that it is exploring various avenues to provide crypto product access. And is considering expanding its services to the United States in the near future. In the United States, regulatory scrutiny against cryptocurrencies has increased dramatically over the last several months. Authorities including the US SEC and the CFTC have filed various cases against crypto businesses suspected of breaking rules after a year of major scandals and bankruptcies. In addition, banking authorities in the United States have issued a warning to conventional financial institutions about the dangers of dealing with the cryptocurrency industry. After the SEC deemed some cryptocurrencies to be unregistered securities earlier this year, Revolut temporarily suspended trading in certain currencies in the United States. However, it is looking at doing business in places where cryptocurrencies are legal. Highlighted Crypto News Today: Jack Dorsey-backed Block Reports $1.87B Gross Profit in Q2 2023

XRP experienced a surge after Ripple Labs’ recent legal win against the US Securities and Exchange Commission, marking a partial victory. Nonetheless, the pace of this upswing has moderated in recent weeks, encountering notable resistance and initiating a downward trajectory. With the latest data from CoinGecko, the XRP value registers at $0.658512. This shows a 1.1% contraction over the preceding 24 hours and a notable seven-day decline of 7.4%. During the height of its price surge after Ripple Labs’ legal breakthrough, its coin encountered a rejection near the $0.95 threshold. This particular zone mirrors the level it reached back in March 2022 during its bearish decline. This prompts the question of whether XRP is retracing its steps into a former range or if this constitutes a mere temporary retreat within an ongoing upward trend. XRP Dampening Sentiment Further impacting the prevailing sentiment around XRP, US District Judge Jed Rakoff has invalidated the approach taken in last month’s ruling concerning the SEC’s lawsuit against Ripple Labs. According to an XRP price analysis, the cryptocurrency has reached its zenith and is now poised to revisit its previous resistance level. Nonetheless, several crucial factors necessitate consideration beforehand. XRP is currently trading at the upper threshold of the expansive Bollinger Bands. While this signifies the potential for a retracement, it also signifies amplified volatility, indicating that any forthcoming pullback might manifest as notably severe. Furthermore, the Stochastic RSI illustrates that XRP has surged to the overbought threshold at 80. This suggests a corrective pullback is probable, given that the market’s buying strength is waning. Traders Turn To New Coin As Alternative Amid the recent challenges faced by XRP, numerous traders have shifted their focus toward an emerging alternative – XRP20. This new option has garnered attention due to its modest market capitalization and unique advantages that set it apart from the original XRP coin. According to insights shared by analyst Jacob Bury, XRP20 holds significant potential for a price surge, leveraging the ongoing situation with XRP. The conventional XRP project has faced criticism for its centralized nature and the over-the-counter sales of XRP conducted by its founders. In contrast, XRP20 stands out as a fully community-owned venture. It has allotted 40% of its tokens for presale, another 40% for staking rewards, earmarked 10% for DEX liquidity and plans to burn the remaining 10%. The coin is not affiliated with Ripple, XRP or their ecosystem, its website says. One of the distinctive features of XRP20 lies in its extensive marketing achievements. The project has gained notable coverage from various prominent media outlets, contributing to a successful presale round that raised a substantial $300K in two days. This rapid fundraising underscores the growing interest and enthusiasm surrounding the coin within the trading community. (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 iStock

According to a report by CCData, a digital assets data provider, crypto trading volumes on centralized exchanges in July fell to their lowest this year as the bear market lingers. Spot trading volumes dipped by 10.5% to $515 billion, while derivatives volume dipped by 12.7% to $1.85 trillion. This slump has been attributed to the low volatility in the price action of the two leading crypto tokens – bitcoin and ether. Both tokens have continued to experience sideways price movement since the beginning of July, thus keeping the market players out as they await a breakout. Binance Continues To Lead The Pack Despite Regulatory Concerns According to the latest exchange review report, Binance remains the largest crypto exchange by spot trading volume, recording $208 billion in trading volume for July. However, it wasn’t all good news for the exchange as its market share declined for the fifth consecutive month in July, dipping to 40.4% – its lowest since August 2022. The decline in Binance’s market share has been attributed largely to the firm’s ongoing legal battle with the United States Securities and Exchange Commission (SEC). In July, the SEC accused Binance and its CEO Changpeng Zhao, of offering different tokens, which the regulator has tagged as “unregistered securities,” to the public. Binance’s regulatory battles might have forced traders to seek alternatives as they fear the worst might happen to the crypto exchange. “The recent concerns over possible regulatory action against Binance seem to have adversely affected the trading activity on the exchange, with users likely to prefer other alternatives,” said Joseph, a research analyst at CCData, in a note to CoinDesk. Crypto Industry In South Korea Thriving South Korea’s Upbit, meanwhile, outperformed the general market trend as the crypto exchange as it rose to become the second-largest crypto exchange by trading volume, ranking only behind Binance. In July, the crypto exchange saw its spot trading volume rise by 42.3% to $29.8 billion. This figure put Upbit ahead of rivals OKX and Coinbase (the first time this is happening), with both crypto exchanges’ volumes dropping 11.6% and 5.75%, respectively. “Compared to last month, Upbit saw the largest increase in market share, with the exchange now accounting for 5.78% of the trading volumes on centralized exchanges,” the report elaborated. Upbit wasn’t the only South Korean crypto exchange that enjoyed a remarkable uptrend last month. According to the report, other South Korean exchanges like Bithumb and CoinOne also saw an increase in their trading volume.

Sui network’s persistent growth propelled it into the league of the top 100 cryptocurrencies by market capitalization, but the value of the SUI token has been on a downward trajectory. Sustaining this heightened market position presents difficulties, as demonstrated by the recent performance of the Sui token’s value. Sui token is currently priced at $0.591478, according to CoinGecko, with a 0.3% drop in the past 24 hours and a 6.0% decrease over the past seven days. The Sui network experienced a big surge, reaching unprecedented heights before undergoing a sharp decline recently. Have other indicators and the token’s valuation borne the impact of this plunge? Sui Network’s Transaction Surge And Diverging Trends A recent report indicates an interesting pattern in the Sui network’s daily transaction block numbers, which commenced in early July. Starting at around 200,000, the transaction count surged to 500,000 and dramatically jumped to over 6 million within a day. This peak brought the total transactions to an impressive 65.8 million, accompanied by an all-time high for the platform and its blockchain. However, the excitement was short-lived as the transaction count quickly settled at approximately 720,000. Interestingly, the network’s activity volume showed a minor decline, stabilizing at about $2 million. The Total Value Locked (TVL) took a different trajectory. Despite the transaction surge, the TVL demonstrated a subtle upward trend, currently at around $14 million, according to DefiLlama. Assessing Sui Token’s Stability And Prospects The Volatility Gauge evaluates recent trends, allowing it to form a score that reflects the current market dynamics rather than being skewed by isolated fluctuations. This methodology provides a more comprehensive understanding of the token’s price behavior. As noted in a separate analysis, the SUI token demonstrates a moderate level of volatility. A low score on the Risk/Reward Gauge complements this average volatility. This pairing indicates that while the token experiences moderate price swings, it is also safeguarded against undue price manipulation. This confluence of factors presents a balanced perspective on the token’s risk and potential rewards. Related Reading: Shiba Inu Price Poised To Reach $0.01 With Shibarium Upgrade, These CEOs Say Looking ahead, the Sui token’s price is favorably poised. The support level is thoughtfully established at $0.568754, which signifies a point where downward pressure could find a halt. On the other hand, the resistance level is strategically set at $0.606822, indicating the end at which selling pressure might increase. This positioning offers Sui token an advantageous space to navigate before encountering significant selling pressures. It suggests that the token has room to flourish within this range, indicating a positive trajectory soon. (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 Ethereum World News