Particle Network, a Web3 infrastructure provider, has accomplished a significant feat after the release of Wallet-as-a-Service (WaaS) V2. Within only one year of the debut of WaaS, the number of wallet activations has topped 15 million since the release of V2. The 15 million milestone was attained within a year of the wallet’s debut, which is evidence of WaaS’s success as well as the need for more approachable web3 onboarding solutions. The record-breaking number of decentralized applications (dapps) that feature WaaS integration has been a key factor in this growth. Over the last 12 months, more than 800 dapps have used Particle Network’s product line, exposing millions of web3 consumers to Particle’s web3 wallet. Through initiatives like Xter.io, Hooked Protocol, ApeX, CyberConnect, and many more, users may access wallet-as-a-service. Particle Network’s Web3 wallet has been fully integrated into every level of the blockchain ecosystem since the introduction of WaaS. With networks like BNB Chain, Linea, Near, Sei, and zkSync, Particle Network has remained in close contact. WaaS has been implemented into more than 70% of the most popular BNB Chain projects, including CyberConnect, Hooked Protocol, and SecondLive. Infrastructure collaborations between Particle Network and companies like Biconomy and Certik also exist. The gaming industry has shown especially high demand for WaaS, with 60% of all projects falling into this category. With Particle Network’s wallet solution, new users may start using the service in around 20 seconds as opposed to several minutes with a traditional web wallet. Due to this, WaaS is now the option of choice for many web3-based game firms. Particle Network is intensifying its efforts on the creation of WaaS V2 to improve privacy, user experience, and transaction efficiency after crossing the significant 15 million wallet mark. With an emphasis on future-proofing web3 infrastructure, V2 was created to make WaaS flexible enough to react to changes in user behavior and blockchain architecture. User sovereignty and composability, two core ideas of web3, are upheld in its design. Wallet-as-a-Service V2 is the most cutting-edge consumer-facing product that Particle Network has created to date. It gives developers the toolset to offer a variety of complex blockchain-based services, including cross-chain solutions. A seamless user experience is produced as a consequence of its emphasis on removing friction, ensuring that dapps may reach their full potential.

On-chain data shows the largest of the Bitcoin whales have returned to distribution, a sign that could be bearish for the asset’s price. Bitcoin Investors With More Than 10,000 BTC Are Selling Again As explained by analyst James V. Straten in a new post on X, the BTC whales, who had earlier been in a phase of accumulation, have switched their behavior to that of distribution now. The relevant indicator here is the “Trend Accumulation Score” from Glassnode, which keeps track of whether Bitcoin investors have been buying or selling during the past month. This metric finds this value by looking at the balance changes in the addresses of the holders. The score also puts a higher weightage on the larger entities, meaning that the accumulation of a few large holders would be more significant for the indicator than the behavior of the smaller hands. When the Trend Accumulation Score has a value close to 1, it means that there is a trend of net accumulation in the market right now. On the other hand, values close to zero imply distribution is the dominant behavior currently. Now, here is how this score has changed for the various Bitcoin investor cohorts since the start of the year: As you can see above, the entire Bitcoin market had been displaying a net distribution behavior during August as the accumulation trend score had been a shade of red for all the cohorts (with the deeper shades naturally being closer to the zero mark). During this selloff period, BTC had registered a significant drawdown. At the start of September, most of the investor groups had still continued to sell, but interestingly, the largest cohort in the sector, the holders carrying more than 10,000 BTC ($262.7 million at the current exchange rate) had started accumulating instead. This group may be called the “mega whales,” since these investors stand out even among the whales. From the data, it’s visible that while these mega whales had been buying earlier in the month, they have recently again shown a shift in their behavior. The Trend Accumulation Score has declined for these humongous entities and now it’s leaning toward distribution. This may suggest that while these investors had thought the earlier lows presented ideal entry opportunities, the fact that the coin has only continued to stagnate recently may have changed their minds. At present, though, the mega whales aren’t dumping Bitcoin at too large a scale. The same is not true for the rest of the cohorts, however, who have taken to some pretty heavy selling recently, as the Trend Accumulation Score has turned deep red for them. This market-wide selling could be a troubling sign for the cryptocurrency and may be a foreshadowing of a drawdown in the near future. BTC Price Bitcoin has been showing a trend of overall consolidation since the crash back in August, as the cryptocurrency continues to float around the $26,200 mark.

Coin Fam In the last article we teased VESA being in Switzerland, and how the country is advancing leaps and bounds in the eyes of the international crypto community, but today we will give you the lowdown on what the Swiss Web3 Fest was all about and who are the people in the ecosystem behind it. In general, to preface why the following is important, it’s good to mention something. VESA has been working with a bunch of people, from big to small companies and beyond, and what is quite frightening is the ratio of competent people even in big organisations, who have their shit together. It is R A R E. So, let’s get to it.The Crypto Oasis founders (from left) Saqr, Ralf, and Faisal with us at the Art In Space gallery in Dubai earlier From Crypto Oasis to Crypto Valley and back If you have been connected to the crypto scene in Dubai at all, you must have heard of Crypto Oasis. The spearhead pack is the fastest growing crypto ecosystem in the world, but not everyone knows of their strong presence, and co-founder origins, in Switzerland. Grace under pressure The whole teams of Crypto Valley and Oasis were like fish in water when D-day finally came. The type of pressure that producing a large conference brings didn’t seem to faze them. It’s not an act when the curtains open. Quite the opposite. The day before the fest is set to go, the meeting room was still full of laughter and the team was constantly aware of opportunities to connect and support others already arriving early. VESA has been to see some 400+ events and many of them behind closed doors don’t have laughter coming out at that point – that’s for sure. While we are most familiar with Crypto Oasis, Ralph, and Saqr especially, at Dubai’s end, the home ground advantage that CV Labs and Crypto Valley had in Switzerland was tangible. It is clear that this network that drapes over the two countries and more is a legit, and expanding fast. Valley or desert, some people knwo how to generate. What bear market? The Swiss Web3 Fest kicked off and the feeling had that same kind of buzz that was Miami during the height of the bull market in Jan 2018 at the North American Bitcoin Conf. Many of the attendees had a personal connection to one or several of the Founders of the Fest and as it’s not only crypto, the peaks and valleys of its cycles aren’t touching this as much. It’s one thing to keep being in this space through the rough seas of the bear market, and a whole other to pack electric conferences during it. Captured from the plane ride over The Swiss Alps lent its majesty as the backdrop of the affair as the attendees flew in and were greeted by the opulence and wealth of the country. First time visitors were quickly educated on the cost of living in the country, as grabbing a bottle of water at the airport set you back a distinguished 7,30 euros. NFT ART DAY IN ZUG It’s great to get in contact time and time again with the artworld at large – from the crypto art & NFT bubbles. Legacy art is still so far behind in understanding why digital certificates done right, matter, that it’s scary. In general in culture now, we feel the touch of history, as we delete and censor things all the time. Culture and tastes change, and now we see deletion of conversations, ideas and people all the time. It’s always been like this. Statues are being torn, and some are still pissed that the library of Alexandria was burned. We can never take knowing history for granted. Something verified on the blockchain, now at the edge of AI mixing things even further and irrecognisably, decentralised blockchain matters more than ever. It was most excellent, as always, to see, hang out and party with the powerful Brittany Kaiser and my trusted gallerist Tomas Cermak from Cermak Eisenkraft Gallery. DFINITY & Internet Computer Sponsoring and co-hosting the Fest were DFINITY and their innovative project Internet Computer, who were prominently visible throughout the festival. Lomesh Dutta gave a couple of keynote speeches on the mission and vision of the project and partied with us to Ibiza tunes late after the Unconference end. The DFINITY Foundation’s mission is to build, promote, and maintain the Internet Computer — the world’s first web-speed, internet-scale public blockchain. It enables smart contracts to securely serve interactive web content directly into the browsers of end users, making it possible to build dapps, DeFi, open internet services, and enterprise systems that can operate at hyperscale. It helps credibility that they have a whole building to themselves The Data-Cleopatra This title will make sense a bit later.. VESA and Brittany are both going to Cairo later this year. One of the most magical aspects of in person events is that they bring together partners that you have an open folder with. Brittany Kaiser, who visited Finland in November 2021 to shoot an NFT project with VESA on data ownership and her entire life story, was present at the Fest. A major theme of the entire Fest was environmental consciousness and green initiatives. Featured initiative by the festival founders was the Green Block. The Green Block is an initiative by Crypto Oasis Ventures to create an Ecosystem for Environmental, Social, and Governance (ESG) related Blockchain projects and platforms. This is the first Global initiative of Crypto Oasis Ventures in commitment to the UAE’s COP28 initiative. Unlike in many other green initiative groups, this one is not afraid to have the battle of ideas inside of the group either from fear mongering to green washing – it was all on the table to figure out what is real about it. The Green Block is going to be an Ecosystem that aims to foster a sustainable future by bringing together stakeholders to develop and implement solutions for corporate governance, environmental sustainability, and social responsibility. The Green Block concentrates on promoting, leading, and connecting the industry to align with the goals of the UAE for COP28 and the UN Sustainable Development Goals (SDG) for the World. The conversations and connections evolved throughout the Fest and by the end of the conference, something beyond huge was already brewing. The first phone calls for this new development are taking place as we speak, more on that soon. Brittany had also embarked on another venture. She told VESA that she is in the process of tokenizing high-value real estate assets, namely heritage castles in France, and had her eyes on other parts of the world as well. https://www.newsbtc.com/wp-content/uploads/2023/09/IMG_2492.mp4 The Fork & Flip piece from 2017 made an appearance at the back of the main ballroom at the Unconference. Faisal killed it as a moderator when Brittany was talking about green mining, the new castle project etc. Not much can be made public about the castle project yet, but you can enquire about it via [email protected] It was good to also reconnect with Matti Liukas, his lovely wife Brynne Kennedy & business partner Antonio Beja to catch up. As with every conf, there are late nights, possibly cigars, and a pissed off kitchen staff to bring in 5 times the amount of food ordered. Guess they didn’t want to be dragged back into the kitchen by a bunch of party animals All handled with laughter & good spirits. BR8VE and Fork & Flip Two VESA pieces that have an impressive pedigree are the commission piece for an anonymous crypto OG, THE BR8VE and an early crypto art called Fork & Flip. The works were exhibited at the Fest as large fabric pieces. In themes both works are right in the core of crypto art, the predecessor to NFTs, and tell the story of the decentralized movement. It’s pretty fire to say the BR8VE could be the Guernica of Crypto, but I challenge anyone to look at the substance and at least have to consider it. The Swiss Web3 Fest coincided with new VESA NFTs being released on Tokengate, an NFT platform associated with the Crypto Oasis and Arte community. The highly curated and sophisticated platform immediately felt like home for the new Mirror- series, which explores transcendental, symmetrical shapes in motion and colour. What ever your art form is, when the attitude is to get things done, you hang from ceilings, help others come to contribute. We go beyond always to what is expected and don’t give up when things don’t look optimal. The large fabric piece is now available via the website shipping almost anywhere within 10 days. It was also a pleasure to meet this Saudi gentleman Zeyad Alkhelaifi, a CAMO Aircraft Engineer, who was our guest at his first ever crypto conference. The piece Fork & Flip can be found here. Visiting the Unpaired gallery with Georg Bak Swiss NFT Association Swiss NFT Association – Assemble! Another piece of the armada forming in Switzerland is SNA – Swiss NFT Association, which held its ground as a part of the entire Swiss Web3 Fest. It was called the Unconference, held by the Swiss NFT Lakeside as it wrapped up the action-packed week of keynotes, connections, panels, and workshops. The whole experience felt like a mere glimpse into the potential firepower of the ecosystem and the Swiss NFT culture. It was great to get to know Victor and Josephine a bit, and start discussing further Swiss contributions. Pioneer gifts Early Bitcoin art gifts – verified on the #BTC chain – to early Bitcoin people and their incredible teams pushing this space forward This iPad cover has been with me since 2018, and travelled a bunch. It was once of those early one off experiments that I didn’t put for sale and forgot to make more of. It’s now verified on chain via @verisart “BitCover I”now dedicated and given as a token of appreciation to @GLRalf @DxBlockChain @Faisalsz for our past, present and future. What an incredible fest of fireworks the Swiss Web3 Fest was! The team was always there to help and laugh our way through any challenges. Link to the video on insta https://instagram.com/p/BomJ_bugKIW/ As Arnold Schwarzenegger says in his Netflix docu series, no one is self made. This took an all star team. It was great to connect with Luca making sure we all got to where we needed to be, Saed connecting us to new people like Kareem from Mercantura Forum, Manal, Fabio and Mic as a new acquaintance. Tom from Tokengate was hanging with me in the ceiling attaching the large BR8VE artwork last minute. Pascal was there always to lend a hand or an idea, and was good to reconnect with Dennis as always. VESA wasn’t able to connect with everyone but many are left unmentioned. So yea. It was a vortex. Grateful to you all, and see you in Dubai soon habibis. Lotta for V E S A Crypto & NFT Artist All links to physical, NFTs, and more below http://linktr.ee/ArtByVesa

Ethereum liquid staking platforms are making waves in the decentralized finance (DeFi) ecosystem. Recent on-chain reports have revealed that liquid staking protocols have recorded a new milestone in the number of Ether (ETH) staked, reaching a staggering 12 million ETH mark in just a few days. Ethereum Liquid Staking Gains Momentum With Ethereum 2.0 thriving, liquid staking protocols in the DeFi ecosystem have been growing rapidly despite recent market volatility. Research data from DeFi TVL aggregator, Defillama, revealed on Monday, September 25, the tremendous growth of Ethereum holdings in liquid staking platforms. According to the data, the ETH in liquid staking protocols has risen to approximately 12.31 million and may continue rising. Reports uncovered that a staggering 370,000 ETH were staked in just five days, allowing liquid staking protocols to reach their current 12 million mark. Liquid staking platforms like Lido, Rocket Pool, Coinbase, and Binance are among the list of prominent protocols that led to the recent upsurge in Ether staking. According to Defillama TVL rankings, Lido holds the top spot for the amount of Ethereum staked with a TVL of $13.997 billion in liquid staking. The protocol secured over 8 million Ether on September 20, and another 30,000 after that. Coinbase is presently ranked second in Defillama’s TVL rankings, holding approximately $2.155 billion, a significant gap from Lido’s TVL. Coinbase has about 1.3 million Ether presently in its reserve. Whereas, Rocket Pool holds the third position in TVL rankings and has increased its Ether holdings from 940,496 to 945,402. Binance Liquid Staking Platform Takes The Lead Binance liquid staking platform has been the driving force behind the recent spike in ether influx in liquid staking protocols in the DeFi ecosystem. According to reports, Binance added a startling amount of ether to its already substantial ether reserves. The liquid staking platform which previously recorded 445,000 ETH in its reserve, added 318,605 ETH and now holds 764,105 ETH. Research data have revealed that Binance amassed a considerable amount of ETH tokens to support its staking token, Wrapped Beacon ETH (WBETH). In the last three months, the DeFi ecosystem recorded a liquid staking valuation above $20 billion evaluating various protocols in the DeFi ecosystem. Following this, Defillama’s September data revealed liquid staking protocols now hold $20.5 billion in assets, increasing by a staggering 293% from previous lows in June 2022. Although the key protocols steering the surge are Lido, Binance, and Rocket Pool. Other upcoming liquid staking protocols like Davos and InQubeta are persisting, driven by the Ethereum 2.0 upgrade and investors desire to maximize their earnings through Ethereum staking.

Ethereum’s recent decline below key support levels at $1,600 and $1,580 signals increased selling pressure. Ethereum price soared over 1.26% in the last 24 hours. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, continues to grapple with bearish pressure as it strives to regain lost ground. On September 21, 2023, ETH initiated a fresh downward trend, sliding below key support levels and reaching a weekly low beneath $1,580. While the digital asset has since attempted a short-term recovery, the path to redemption remains fraught with challenges. ETH experienced a notable dip, plunging as low as $1,565 before showing signs of a modest rebound. This upward correction managed to lift the price above the $1,590 mark, but the bears have proven resilient around the $1,600 resistance threshold. Adding to the pressure, Ethereum’s 200-day Moving Average (MA) currently stands above its 50-day MA, indicating a bearish trend sentiment. Is Ethereum (ETH) Set to Enter a Bullish Zone? The $1,600 level represents a critical juncture for Ethereum. A successful breakthrough could pave the way for a push towards $1,620, reigniting optimism among bulls. If they manage to conquer this hurdle, the path towards $1,650 and even $1,700 may open up, potentially triggering a bullish rally. Ethereum (ETH) Price Chart (Source: TradingView) However, the Ethereum price remains uncertain, with the $1,600 resistance proving to be a formidable obstacle. Failure to breach this level may trigger another descent for ETH. Initial support is anticipated at the $1,580 level, but a breach of this could see Ethereum testing the $1,565 support, followed by a critical test at $1,540. A breakdown beneath $1,540 could usher in a more pronounced bearish phase, casting doubts on Ethereum’s short-term prospects. At the time of writing, ETH traded in the $1,595 range, marking a 1.26% price increase over the past 24 hours.

Maker DAO’s MKR has recorded a big push amid the slight uptick in the broader cryptocurrency market. Yesterday, September 25, the token rose from a low of $1,265 to a high of $1,343. Although most tokens struggle to recover, MKR consolidated on its upswing with an impressive 5% 24-hour increase. MKR trades at $1335, striding to conquer the critical resistance at $1,350. Its latest strides show buyers are in control, and their activity could facilitate more gains for MKR. But is the bullish momentum strong enough to push MKR to the $1,500 price mark? Let’s find out. Related Reading: Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved MKR Stands Among Top-gaining Cryptocurrencies MKR ranked number one among today’s top-gaining cryptocurrencies, gapping Chainlink and Bitcoin Cash by 2%. This comes while the overall crypto market cap recorded a slight uptick of 0.63%, with the trading volume down 4%, indicating a decline in trading activity. However, amid the sparse buying activities in the general market, MKR recorded a 47% increase in trading volume. This observation depicts increased buy action in the Maker market. But while this increased buying strength could fuel the coin’s price rally, it’s important to identify the factors behind it. The buzz around the new proposal to deploy Spark Protocol on zkSync Era Mainnet has boosted investor sentiment. This proposal will include wETH, rETH, wstETH, and DAI as initial collaterals for borrowing on the Spark Protocol. Also, if adopted, the proposal will set a 2 million liquidity goal to spur Spark Protocol’s growth on zkSync. Already, 100% of the Maker community voted yes to launching Spark on Gnosis Chain. This development makes DAI, Maker DAO’s stablecoin, the native gas token of Gnosis Chain. In addition, it allows users to earn increased yield when lending their DAI tokens. Given this benefit, this development yielded positive sentiment in the Maker ecosystem. This positive sentiment must have translated into increased demand for MKR, the governance token of the Maker protocol, a plausible reason behind the surge in trading activities. MKR Strives To Conquer The Key Resistance Level: Is $1,500 Possible? The daily chart shows that MKR has formed two consecutive bullish candlesticks around the $1,300 price. This set-up depicts high token demand and increased buying strength around this zone. The increased buy actions have pushed MKR above a key support level of $1,086 and a critical moving average of $1,166. But, the bulls met strong opposition at the $1,354. The sell activities from profit-taking traders, evident in forming two bearish candlesticks at this level, hinder further strides. Furthermore, MKR has remained a few pipes below $1,354 since opening today’s trading session at $1,338. However, the Relative Strength Index, which increased from 63 to 64.97, approaching the overbought area, signals rising buying strength. It suggests that more buyers are entering longer positions, ready to counter the selling pressure resisting rally. Suppose buyers maintain the ongoing momentum; a breakout above $1,354 and a move towards $1,500 before the day ends is possible.

The price is continuing a downward trend that began when it faced resistance at $27,420. A little wave of recovery has pushed prices back over the $26,200 level. The recent announcement by Citibank to provide blockchain technology for institutional deposits, convertible into “Citibank tokens” for round the clock cross-border transactions, is a major step forward in the evolution of the financial industry. Robert Kiyosaki, an investor and author, tweeted that Citibank’s recent engagement might mark a turning point for Bitcoin and the USD. On September 18th, Citi stated that its Treasury and Trade Solutions (TTS) division will begin testing out Citi Token Services, a new venture that would use blockchain and smart contract technology. Struggle Continues At the time of writing, Bitcoin is trading at $26,273, up 0.42% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 2.88%. The Bitcoin price is continuing a downward trend that began when it faced resistance at $27,420. The price found support at $26,000 level yesterday, after recently breaking the $26,430 support level. Source: CoinMarketCap Recently, there has been a little wave of recovery that has pushed prices back over the $26,200 level. If the price manages to break above the $26,700 resistance level then it will likely rally towards the $27,450 mark. Moreover, if the bulls could drive the price above this resistance level then it will likely test the $28,000 mark. However, there are a number of upcoming resistance levels and shrinking support levels, suggesting that the present price dynamics of Bitcoin are negative. If the price breaks below $26,000 support level then it will be likely heading towards the $25,450 mark. If the cryptocurrency keeps falling, it may possibly test the $25,000 level, marking a new short-term low.

Earlier in June, the exchange was ordered by Belgium’s FSMA) to halt operations. The exchange has announced it is once again accepting new registrations. Binance, a cryptocurrency exchange, has announced that it is once again available to customers in Belgium, after earlier difficulties caused by European Economic Area rules. Binance announced on September 25th, 2023, that it will begin offering its services in Belgium. After more than three months, the exchange has announced it is once again accepting new registrations from users in Belgium. This also implies that, with certain restrictions, users may once again use Binance’s services and products. Scrutiny Over Compliance Meanwhile, as of 30 December 2024, the European Union’s Markets in Crypto Assets (MiCA) legislation will apply to crypto platforms providing services to European customers. The exchange has been facing severe scrutiny over compliance globally for quite some time now. Earlier in June, the exchange was ordered by Belgium’s Financial Services and Markets Authority (FSMA) to halt operations immediately. The ruling required the immediate cessation of any services involving the conversion or exchange of virtual currencies into fiat currency within the jurisdiction of the nation issuing the order. Users were able to access the crypto exchange on Binance.com despite the regulator’s prior clarification that it does not provide such services in the nation. Therefore, the services did not comply with rules set out by the European Economic Area. Moreover, new information suggests that by 2024, the thriving Japanese cryptocurrency market would have access to stablecoins issued by Binance in US dollars, Euros, and Japanese yen. Binance has collaborated on this endeavor with the trust banking division of the Mitsubishi UFJ Financial Group (MUFG). Highlighted Crypto News Today: Crypto Influencer ‘BitBoy Crypto’ Arrested During Dramatic Livestream

Cardano (ADA) finds itself at a pivotal juncture as it tests its longstanding support at $0.24. This critical level has held firm for nearly three years, emerging as a significant accumulation point for savvy investors. The recent daily candle hints at a somewhat neutral stance in the market. This slight uptick in price suggests a potential dissipation of the strong bearish sentiment that has lingered, with traders now recognizing renewed buying interest hovering around the $0.24 mark. Bullish Hopes Rest On Breaking Sustained ADA Resistance The eyes of Cardano enthusiasts are now fixed on a key resistance level, as breaking free from this barrier could set the stage for a significant trend reversal. According to a price report, should Cardano manage to surpass this critical resistance point, it could spark a rally, potentially pushing prices upward by approximately 6%, with the next major hurdle resting at $0.25. Should this upward momentum persist, it could further drive the coin’s value towards the coveted $0.28 mark. As of the latest data available, ADA is trading at $0.246841 according to CoinGecko, reflecting a 0.7% gain over the past 24 hours. However, over the course of the past seven days, the coin has experienced a decline of 3.6%. OptionFlow Open Public Testnet Goes Live In parallel to Cardano’s price dynamics, the team behind OptionFlow, a Cardano-based option protocol, has announced a significant milestone. Phase one of their open public testnet has gone live, ushering in a new era of experimentation for Cardano enthusiasts. The preproduction version of the application is now open for users to explore, allowing them to submit both “put” and “call” orders on-chain—a departure from the traditional derivatives positions seen on centralized exchanges. The year 2023 has been a transformative year for Cardano, particularly in the realm of decentralized finance (DeFi). During the second quarter of the year, the Cardano network bore witness to a surge in DeFi activity, achieving numerous off-chain records. Cardano Hits TVL ATH The total value locked (TVL) in Cardano’s DeFi ecosystem reached an all-time high of $200 million. However, as the broader crypto market grapples with a challenging decline, this metric has dipped to $146.52 million at the time of writing. The recent price action and the launch of OptionFlow’s public testnet promises potential bullish momentum amid the evolving DeFi landscape. As traders and investors watch the charts closely, the cryptocurrency community eagerly anticipates Cardano’s next moves in this ever-dynamic market. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Invezz

In a recent development, analysts at asset management firm Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF. When Will The First Spot Bitcoin ETF Be Approved? According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court ruling in the Grayscale case, which they believe could force the SEC’s hands. The court had ruled in favor of Grayscale in a case in which the asset manager argued that the Commission had acted arbitrarily and capriciously by not giving its Spot Bitcoin ETF application the same regulatory treatment it did to Bitcoin futures ETFs. As part of its ruling, the court ordered the Commission to review the application again. Many saw this as a major win and proof that a Spot Bitcoin ETF was imminent, with Bloomberg analysts also weighing in and increasing the likelihood of these pending funds launching this year to 75%. They stated that “the unanimity and decisiveness of [the] ruling was beyond expectations,” with the SEC having little or nothing to hang on to. The analysts at Bernstein also seem to adopt this view as they noted that the SEC would simply go the “middle route” and be more open to approving these ETFs rather than “inventing another reason for refusal” and sticking to the strict approach which they have taken on the crypto industry so far. This projection also seems feasible since the SEC must decide (approve or deny) on the ARK 21Shares Bitcoin ETF by January 10, 2024. Considering that the court has overruled the primary reason why the SEC has continued to deny these applications, the Commission might have difficulty coming up with another convincing reason to deny the application. Before then, the SEC will be expected to decide on some pending applications in October. However, the Commission can delay its decision on them once again. ETFs Integral To The Crypto Asset Management Industry Bernstein’s analysts also project the crypto asset management industry to grow from its current level (between $45 to $50 billion) to over $500 billion in the next five years. These ETFs, which they project could launch early next year, are part of the factors they believe could spur such growth. According to them, there will be increased demand from institutional investors in crypto assets, and funds such as a Spot Bitcoin ETF will be their go-to option. A Spot Bitcoin ETF will allow these investors to invest directly in the flagship cryptocurrency in a regulated manner. In line with this, they expect the ETFs to hold 10% of the Bitcoin and Ethereum market cap and “5-6% share for liquid crypto hedge funds.”

BitBoy Crypto’s arrest during livestream sparks controversy. Hit Network severs ties with BitBoy Crypto amid substance abuse and workforce issues. In the ever-evolving crypto landscape, crypto influencers continue to capture the media spotlight. Currently, all eyes are on Ben Armstrong, widely known as “BitBoy Crypto,” who is making headlines due to his arrest during a live YouTube stream hours ago. Armstrong’s intention was to confront a person named Carlos Diaz live on YouTube, aiming to recover his allegedly stolen Lamborghini. However, what initially seemed like a straightforward encounter rapidly descended into a whirlwind of conspiracy theories. Armstrong boldly stated, “If Carlos Diaz comes out of his house and tries to kill me live on YouTube, then whatever happens will happen.” Notably, just hours before his arrest, Armstrong cryptically hinted at an impending YouTube broadcast from a “special location.” Moreover, even when the cops arrived, Armstrong continued his livestream, answering their questions about potential drug use or weapons possession. And revealing that he was in the company of his mistress. During the livestream, he delved into convoluted speculation involving his cryptocurrency asset, BEN coin, and US Congresswoman Maxine Waters. However, As of now, Armstrong has maintained silence on his social media channels, deepening the mystery surrounding the situation. What’s Behind The BitBoy Drama? This recent episode closely follows BitBoy Crypto’s parent company, Hit Network, severing ties with Armstrong due to concerns over substance abuse issues and the financial impact on the workforce. Carlos Diaz, reportedly linked to Hit Network, plays a significant role in Armstrong’s allegations. It ranges from threats to his life to accusations of Lamborghini theft. In a crypto world that never sleeps, the BitBoy Crypto saga underscores the idea that cryptocurrencies and their influencers can ignite speculation and controversy with tangible real-world consequences that extend beyond the digital realm.

With anticipation around Bitcoin ETFs from giants like BlackRock, Fidelity, and Invesco, and an expected halving in April 2024, forecasts for Bitcoin’s price next year show a significant range. From JPMorgan to Standard Chartered Bank, here are the most notable estimates for 2024: Pantera Capital: $150,000 In their August “Blockchain Letter”, Pantera Capital, led by Dan Morehead, predicts a possible rise to $147,843 post the 2024 halving. Employing the stock-to-flow (S2F) ratio, they believe the price model suggests the valuation of Bitcoin against its scarcity will become more pronounced. Specifically, Pantera Capital stated, “The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on price.” With history as a reference, this could indicate a hike from $35k before the halving to $148k after. However, not all Bitcoin supporters are on board, having witnessed failed predictions based on this model in the recent past. Standard Chartered Bank: $120,000 In a recent research report from July, Standard Chartered Bank offered a bullish outlook on Bitcoin’s potential trajectory. The British multinational bank now expects Bitcoin’s value to ascend to $50,000 by the end of the current year, with the potential to soar as high as $120,000 by the close of 2024. This revised forecast from Standard Chartered marks an increase from their previous April prediction, where they projected a top of $100,000 for Bitcoin. The upward revision in the bank’s forecast is underpinned by several determining factors. Notably, one primary reason cited for the potential price escalation is the ongoing banking-sector crisis. Additionally, the report sheds light on the rising profitability for Bitcoin miners as a pivotal factor influencing the price trajectory. Geoff Kendrick, the head of FX and digital assets research, emphasizes the instrumental role of miners. He notes, “The rationale here is that, in addition to maintaining the Bitcoin ledger, miners play a key role in determining the net supply of newly mined BTC.” JPMorgan: $45,000 Per Bitcoin JPMorgan, one of the world’s leading investment banks, anticipates a more restrained growth for Bitcoin, predicting a rise to $45,000. This forecast is influenced by the surging gold prices. Historically, Bitcoin and gold have shown correlation in their price movements, and with the gold price recently surpassing the $2,000 mark per ounce, it has bolstered JPMorgan’s conservative outlook on Bitcoin. In a detailed note from May, JPMorgan strategists explained, “With the gold price rising above $2,000, the value of gold held for investment purposes outside central banks stands at about [$3 trillion]. Consequently, this suggests a Bitcoin price of $45,000, based on the premise that BTC will achieve a standing akin to gold among private investors.” Matrixport: $125,000 By End-2024 In July, Matrixport, a prominent crypto services provider, predicted that Bitcoin’s price could surge to as high as $125,000 by the close of 2024. This optimistic outlook was based on historical price patterns and a significant signal: Bitcoin’s recent breach of $31,000 in mid-July, marking its highest level in over a year. Historically, such milestones have signaled the end of bear markets and the beginning of robust bull markets. By comparing these patterns with historical data from 2015, 2019, and 2020, Matrixport estimated potential gains of up to 123% within twelve months and 310% within eighteen months. This translates to potential Bitcoin prices of $65,539 and $125,731 within those respective timeframes. Tim Draper: $250,000 Tim Draper, a prominent venture capitalist, maintains a highly bullish outlook on Bitcoin. While his previous prediction for Bitcoin to reach $250,000 by June 2023 didn’t materialize, he remains optimistic about the cryptocurrency’s long-term potential. In a July interview on Bloomberg TV, Draper attributed recent regulatory actions in the United States, such as those against Coinbase and Binance, to BTC’s short-term downtrend. Despite these challenges, Draper continues to believe in Bitcoin’s transformative power and sees it potentially reaching $250,000, albeit now possibly by 2024 or 2025. His confidence in Bitcoin’s ability to revolutionize finance and retain its long-term value remains unwavering. Berenberg: $56,630 At Bitcoin Halving The German investment bank Berenberg revised its prediction in July, pointing toward $56,630 by April 2024. This upward adjustment was supported by improved market sentiment attributed to the anticipation of the Bitcoin halving event expected in April 2024 and the growing interest exhibited by prominent institutional players. Berenberg’s team of analysts, led by the insightful Mark Palmer, emphasizes their expectation of significant appreciation in Bitcoin’s value in the coming months. This projection is driven by two key factors: the highly anticipated Bitcoin halving event and the growing enthusiasm displayed by significant institutions. Highlighting their confidence in the market, Berenberg also reaffirmed its buy rating on the stock of Microstrategy. The bank has revised its share price target for Microstrategy from $430 to $510, driven by a higher valuation of the company’s BTC holdings and an improved outlook for its software business. Blockware Solutions: $400,000 Blockware Intelligence, in an analysis from August titled “2024 Halving Analysis: Understanding Market Cycles and Opportunities Created by the Halving,” delved into the intriguing possibility of Bitcoin’s price reaching $400,000 during the next halving epoch, anticipated in 2024/25. A central factor identified in the research is the role of the halving in shaping Bitcoin’s market cycles. The report asserts that miners, responsible for a significant portion of sell pressure, receive newly minted BTC, much of which they must sell to cover operational costs. However, the halving events serve to weed out inefficient miners, leading to reduced sell pressure. With supply diminishing due to halvings, the research emphasizes that demand becomes the primary determinant of BTC’s market price. Historical data indicates that a surge in demand typically follows halving events. Market participants, equipped with an understanding of the supply-side dynamics introduced by halvings, prepare to deploy capital at the first signs of upward momentum, potentially leading to substantial price appreciation. This surge in demand is particularly evident in current on-chain data, validating the positive sentiment surrounding halving events. Beyond these notable forecasts, there are a plethora of other price predictions for BTC, ranging from Cathie Wood’s (ARK Invest) ambitious $1 million projection to Mike Novogratz’s (Galaxy Digital) $500,000, Tom Lee’s (Fundstrat Global) $180,000, Robert Kiyosaki’s (Rich Dad Company) $100,000, Adam Back’s $100,000, and Arthur Hayes’ $70,000 prediction, underscoring the diverse perspectives on Bitcoin’s future value. At press time, Bitcoin traded at $26,286.

Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market. While LTC has a history of volatile price swings, recent times have seen it mirroring the sideways movement of the overall market, largely influenced by Bitcoin’s fluctuations, which rose from $25,000 to $27,000 before dropping to $26,000. As of the latest data from CoinGecko, Litecoin is currently trading at $64.63, with a 24-hour gain of 0.7%. However, over the past seven days, LTC has experienced a decline of 2.9%, reflecting the prevailing bearish sentiment in the market, according to a recent price report. Chasing Litecoin Bulls and Avoiding The Bears For those looking for a bullish revival in Litecoin’s price, a price report notes that the key level to watch is the 23.6% Fibonacci retracement level, which stands at $69. Breaking above this level could open the door for further gains, with potential targets lying at $78 and $80. On the other hand, if the flat trading volume persists, bears may exert further pressure, potentially leading to a drop in LTC’s price to the $60 mark. Market speculators have not been particularly enthusiastic about Litecoin’s recent sideways movement. The Open Interest (OI) for LTC has continued to decline, with data from Coinalyze indicating a $9 million drop within the past 48 hours. This suggests that traders and investors are becoming increasingly cautious as they monitor the developments in the Litecoin market. Litecoin’s Investment Appeal in Q3/Q4 Despite the recent lackluster performance, some analysts believe that Litecoin remains an attractive investment opportunity in the third and fourth quarters of this year. Litecoin’s established reputation, solid ecosystem, and upcoming halving events are factors that contribute to its appeal. Halving events have historically had a positive impact on Litecoin’s price, reducing the rate at which new LTC coins are mined and potentially increasing scarcity. Market participants are closely watching the 23.6% Fibonacci retracement level at $69 for signs of a bullish revival, while a continuation of flat trading volume could see LTC drop to $60. Despite recent market concerns, Litecoin’s strong fundamentals and upcoming halving events make it an investment opportunity worth considering as we move into the later part of the year. (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 Invest Right

Ripple’s token price is holding gains above $0.50 against the US Dollar. XRP price could take a hit if it fails to recover above $0.512. Ripple’s token price is attempting a fresh increase above $0.508 and $0.512 against the US dollar. The price is now trading above $0.500 and the 100 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above $0.512. Ripple’s Token Price Holds Key Support In the last XRP price prediction, we discussed the chances of more gains in Ripple’s XRP against the US Dollar. The price did climb above the $0.515 resistance level, but upsides were limited, like Bitcoin and Ethereum. The price struggled to clear the $0.525 resistance. A high was formed near $0.5254 and the price saw a downside correction. There was a move below $0.512 and a spike below $0.50. A low is formed near $0.4907 and the price is now consolidating. It is back above the 23.6% Fib retracement level of the recent decline from the $0.5254 swing high to the $0.4907 low. XRP price is also trading above $0.500 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.508 level. Besides, there is a major contracting triangle forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair. The triangle resistance coincides with the 50% Fib retracement level of the recent decline from the $0.5254 swing high to the $0.4907 low. Source: XRPUSD on TradingView.com The next major resistance is near the $0.5120 level. A close above the $0.512 level could send the price toward the $0.525 barrier. A successful break above the $0.525 resistance level might start a strong rally toward the $0.555 resistance. Any more gains might call for a test of the $0.580 resistance. Downside Break in XRP? If ripple fails to clear the $0.512 resistance zone, it could start another decline. Initial support on the downside is near the $0.50 zone and the 100 simple moving average (4 hours). The next major support is at $0.490. If there is a downside break and a close below the $0.490 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.460 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.500, $0.490, and $0.460. Major Resistance Levels – $0.508, $0.512, and $0.525.

Ethereum price is attempting a recovery wave from $1,565 against the US Dollar. ETH could struggle to recover above $1,600 and might resume its decline. Ethereum is slowly moving higher toward the $1,600 resistance zone. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it fails to clear the $1,600 resistance zone. Ethereum Price Struggles Below $1,600 Ethereum’s price started a fresh decline below the $1,620 and $1,600 levels. ETH even declined to a new weekly low below the $1,580 level, unlike Bitcoin. It traded as low as $1,565 and recently started a short-term upside correction. There was a move above the $1,580 level. The price climbed above the 50% Fib retracement level of the recent drop from the $1,600 swing high to the $1,565 low. However, the bears are still active near the $1,600 resistance. The price is struggling to clear the 76.4% Fib retracement level of the recent drop from the $1,600 swing high to the $1,565 low. Ether is now trading below $1,600 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,595 level. Source: ETHUSD on TradingView.com The next major resistance is $1,600. A push above $1,600 might send Ethereum toward $1,620. If the bulls succeed in clearing the $1,620 hurdle, the price could start a decent increase toward the $1,650 resistance. Any more gains might open the doors for a move toward $1,700. More Losses in ETH? If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,580 level. The next key support is $1,565, below which the price could test the $1,540 support. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop toward the $1,500 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,565 Major Resistance Level – $1,600

Bitcoin price is struggling below the $26,500 resistance. BTC could accelerate lower if there is a close below the $26,000 support in the near term. Bitcoin is struggling and trading well below the $27,500 resistance. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline unless there is a close above the $26,500 level. Bitcoin Price Faces Hurdles Bitcoin price started a fresh decline below the $26,800 level. BTC traded below the $26,500 and $26,200 support levels to move into a negative zone. Finally, the pair tested $26,000 and a low was formed near $26,026. Recently, the price started a minor recovery wave above the $26,200 level. The price climbed above the 23.6% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low. However, the bears are protecting a break above the $26,500 resistance. The price is struggling to clear the 50% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low. Bitcoin is now trading below $26,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $26,400 level. There is also a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com The next key resistance could be near the $26,500 level, above which the price could gain bullish momentum. In the stated case, the price could climb toward the $27,000 resistance. Any more gains might call for a move toward the $27,500 level. More Losses In BTC? If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,150 level. The next major support is near the $26,000 level. A downside break and close below the $26,000 level might start another major decline maybe toward the next support at $25,400. Any more losses might call for a test of $25,000. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $26,150, followed by $26,000. Major Resistance Levels – $26,400, $26,500, and $27,000.

In the past month, there have been more daily active addresses on the NEAR Protocol than in Ethereum and its layer-2 protocols, including Arbitrum and OP Mainnet, Artemis data from September 25 reveals. Artemis, an institutional data platform for digital assets, shows that the number of daily active addresses on NEAR Protocol has been consistently above the 400,000 level in September. Daily Active Addresses On NEAR Protocol Surging Looking closer at the data confirms that the number of daily active addresses on Ethereum, the pioneer smart contract platform that hosts most decentralized finance (DeFi) and non-fungible token (NFT) activity, has been dropping. To illustrate, the number of daily active on Ethereum rose above 1 million in mid-September but has since more than halved to below 400,000. The same trend can be seen in Arbitrum, which dropped from around 200,000 in late June to 150,000 when writing on September 25. During this time, NEAR Protocol’s daily active addresses have rapidly spiked from around 40,000 in late June to above 400,000, outperforming Ethereum in this metric. With rising daily active addresses, there has been a spike in daily transactions over the past month. According to trackers, the NEAR Protocol processes more transactions than Ethereum. Public ledgers like NEAR Protocol and Ethereum depend on a community of users who actively transact—moving value or running protocols—or validators- to secure the network. However, the number of daily active addresses can provide valuable insights into the level of adoption, user engagement, and the network’s overall health. Besides user engagement, rising daily active addresses might also point to changing market sentiment, which could significantly impact prices. Bears In Control As DEX Trading Volume Remains Relatively Stable When writing, NEAR, the native token of the NEAR Protocol, is trading at around 2023 lows. Changing hands at $1.107, the coin is down 61% from 2023 highs and remains under pressure. The candlestick arrangement in the daily chart points to consolidation and stability above the primary resistance level at $1. Bears have the upper hand if prices remain below $1.23, a critical resistance level marking the August 17 highs. As evidence shows, the network activity and price action diverge. Although the transaction count also rose, the number of unique addresses interacting with NEAR Protocol decentralized exchanges has mostly been stable. Looking at the numbers, DEX volume on the platform is significantly lower than those registered in Ethereum and its popular layer-2 platforms.

According to Arkham Intel, the Huobi crypto exchange platform (HTX) fell victim to a hacking incident resulting in the theft of 5000 ETH, valued at approximately $8 million. The hacker reportedly moved 1,000 ETH to a separate wallet, 0x799, shortly after compromising the platform and has since remained silent. Huobi Resolves Breach, Offers Hacker Lucrative Deal For Stolen ETH Justin Sun, the Founder of TRON and an Advisor to Huobi, confirmed the incident on X (formerly Twitter), stating that HTX suffered a loss of 5,000 ETH due to the hack. Sun stated: Sun reassured users that HTX had fully covered the losses and resolved all related issues. He emphasized that user assets were secure and that the platform operated normally. According to Sun, the stolen amount of $8 million represents a relatively small fraction compared to the $3 billion worth of assets held by HTX users and is equivalent to just two weeks’ revenue for the platform. Sun further stated that the hack was detected immediately after the incident on September 24th. HTX swiftly took action to prevent further losses and promptly addressed all issues, restoring the platform to its normal state immediately. Trading operations have continued without interruption. Notably, as an incentive for the hacker to return the stolen funds, HTX offers a 5% white hat reward of $400,000. Additionally, if the hacker returns the funds, they will be considered for a position as a security white hat advisor for HTX. On this matter, Sun claimed: However, if the hacker fails to return the funds within seven days, HTX will transfer the information to law enforcement authorities for further action and potential prosecution. Overall, Justin Sun’s statement regarding the recent hack suffered by Huobi’s HTX platform reassured users that the losses incurred had been fully covered and all related issues had been successfully resolved. The native token of the exchange, HT, is currently trading at $2.44, reflecting a 1.3% decline in the past 24 hours following the revelation of the hack that occurred on Sunday. Featured image from Shutterstock, chart from TradingView.com

The Cardano community has been one of the fastest-growing in the crypto space and this has shone a heavy spotlight on the ADA price. With expectations mounting already even amid the crypto winter, there are key factors that stakeholders believe could drive the altcoin’s price as high as $12. ADA Price Could Reach $12 In the last bull market, the ADA price went on a tremendous rally that saw the coin rise from as low as $0.03 to as high as $3.10 at its peak. This price action cemented the token as one of the winners of the bull, and some investors believe that the coin could be poised for another repeat of this price action. One X (formerly Twitter) user has given some points as to why this could be the case. In the post, the user points to the current state of interaction and sentiment in the crypto market right now, which they refer to as brutal. However, they do not believe that this will always be the way things will be. According to the user, a quick change in the interaction and sentiment would lead to a rapid price increase. At this point, they believe that most investors will end up entering the asset at a much higher price of $3 and above. This would put it at its previous all-time high. However, it doesn’t end there. They put forward that at the end of the next bull market, the ADA price would be between $8 and $12. As with any forecast, a timeframe is often asked and they responded that they expect this to happen in the second quarter of 2025. This would coincide with the current 4-year cycle that usually sees prices of cryptocurrencies topping out by Q2 and Q3. Cardano Is In Better Shape A prominent Cardano influencer has also painted a bullish picture for the digital asset. @cardano_whale, an account that boasts over 137,000 followers on X, said in a tweet that the Cardano network is currently in better shape than it has ever been. They urged investors who have been increasingly critical of the network to think if they are that way because they are projecting their emotions from the ADA price action onto the network itself. “If you’ve noticed yourself become increasingly negative about it over the last year or so, consider that you might just be projecting emotions from price action onto it,” the post read. Although ADA has not seen the most impressive performance, it has not deterred bullish predictions from analysts. One analyst explained that ADA at $0.25 was a prime accumulation price and that the price of the digital asset could climb as high as $5.

The release of the new e-CNY app version coincides with the beginning of the Asian Games. China has actively tested accepting the digital yuan from overseas tourists. As China updates the smartphone app powering its CBDC trial, visitors to the People’s Republic of China may now preload their digital yuan wallets using Visa and Mastercard payment methods. The e-CNY app, currently under beta testing, may be downloaded from the Apple App Store or the Google Play Store in China. The app caters to individuals by facilitating the creation of digital yuan wallets for the usage of e-CNY. Boosting e-CNY Adoption Version 1.1.1 of the iOS app, released on September 22nd, adds the ability to use foreign credit cards for its in-app purchases. The release of the newest e-CNY app version coincides with the beginning of the Asian Games. China has actively tested accepting the digital yuan from overseas tourists. Yicai claims that the 2022 Beijing Winter Olympics was the first time the CBDC pilot allowed foreign visitors to use e-CNY to make purchases from local businesses. It has been claimed that foreign visitors may utilize their domestic phone numbers to sign up for and use e-CNY wallets. Moreover, they utilize the recharge wallet function, which now accepts Visa and Mastercard payments. Recent updates have detailed China’s efforts to mainstream the use of digital yuan in all retail settings. This would make the digital yuan the de facto mode of payment for consumers and businesses alike throughout China. Highlighted Crypto News Today: Michael Saylor Led MicroStrategy Purchases 5,445 Bitcoin (BTC)