Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance. The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side. As of the latest data from CoinGecko, the coin is trading at $0.00000067, showing a 3.9% loss in the past 24 hours and a substantial 14.4% decline over the past week. Most notably, PEPE has tumbled out of the coveted crypto top 100 list on CoinGecko. PEPE Selling Pressure Intensifies On September 10, PEPE suffered a bearish breakdown as it breached the support trendline. This development, coupled with a rising supply pressure across the altcoin landscape, resulted in a sharp decline in the value of PEPE. Investors and enthusiasts began to question the coin’s future as it struggled to maintain its position. Adding to the concerns surrounding PEPE, a tweet from Lookonchain on September 11 drew attention to a peculiar event. Several investors opted to sell their PEPE holdings, swapping them for PNDC (Pandacoin). Three wallets collectively sold a staggering 1.38 trillion PEPE tokens for 600 ETH, equivalent to approximately $965,000. In a surprising twist, they reinvested 600 ETH to purchase 487 billion PNDC tokens. On-Chain Metrics Paint A Grim Picture A deeper look at PEPE’s on-chain metrics reinforced the growing unease within the crypto community. Buying pressure on the meme-inspired coin remained high, which, paradoxically, contributed to the bearish sentiment. Notably, PEPE’s supply on exchanges experienced a sharp increase over the past few days, indicating a surge in selling activity. What Lies Ahead For Pepe Coin? This shift occurred simultaneously with a decrease in PEPE’s supply outside of exchanges, further highlighting the rising selling pressure. Moreover, PEPE’s exchange inflow witnessed a noticeable spike, while the total number of holders declined, painting a gloomy picture for the cryptocurrency. PEPE’s early September performance has been nothing short of turbulent. Its journey from a bearish pennant pattern to a breakdown below support has left investors and enthusiasts concerned about its future. The notable wallet activity and on-chain metrics only serve to compound these concerns, leaving the crypto community with more questions than answers about the fate of PEPE in the coming days. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Tallahassee Democrat

Binance Charity is conducting a $3 million BNB airdrop to support Moroccan earthquake victims. Approximately 70,000 Binance users in Morocco will benefit from this initiative, which began on September 12, 2023. In the wake of the devastating earthquake that struck Morocco, leaving countless individuals in urgent need of assistance, Binance, the world’s largest cryptocurrency exchange, is stepping up with a generous relief effort. Binance’s philanthropic arm, Binance Charity, has pledged to airdrop up to $3 million in BNB (Binance Coin) directly to Binance users residing in the affected regions. Users who completed Proof of Address (POA) before September 9, 2023, in the affected region will receive $100 in Binance Coin (BNB), valued at $20,957 at the time of this article’s writing. Additionally, those completing POA from September 9 to 30, 2023, will receive $25 in BNB, worth about $5,239. The distribution of funds to eligible users is scheduled to commence on September 12, 2023. Further to this user-focused initiative, Binance Charity has launched a public donation address to facilitate contributions from the global community. All funds received at this address, whether in BNB, BTC, ETH, USDC, USDT, or BUSD, will be channeled toward an authorized NGO, to be named shortly, for the purpose of aiding those in need through the Emergency Earthquake Appeal. At the time of writing, Binance’s native cryptocurrency, BNB, was trading at $208, boasting a 24-hour trading volume of $520 million, marking a significant 67% surge in just one day.

Filecoin (FIL) has been facing a long-term downtrend, marked by wavering buyer confidence and a series of concerning technical indicators. A recent price analysis reveals a bearish order block at $3.6 on FIL’s one-day chart, with a closely tested liquidity zone at $3 over the past month. This downward trend has persisted since early August, as evidenced by a sequence of lower highs and lower lows. On the weekly chart, two key levels have held significant sway over FIL’s fortunes since June 2022. The resistance at $4.8 and the support at $2.42 have acted as formidable barriers and lifelines, respectively. Analysis suggests that a breakthrough above the $4.8 resistance could signify the first step toward establishing a long-term uptrend. Furthermore, the presence of a bearish breaker block in the 1-week timeframe, spanning from $4.6 to $5.7, reinforces this notion. Filecoin Bearish Signals Abound The same analysis highlights that technical indicators have been unforgiving for FIL, with both the On-Balance Volume (OBV) and Relative Strength Index (RSI) painting a grim picture. The OBV has been in a consistent downward trajectory since mid-July, indicative of sustained selling pressure. Meanwhile, the RSI exhibits bearish momentum, recording a reading of 31 and consistently residing below the neutral 50 mark since late July. These combined signals strongly suggest that FIL may experience a drop below $3 and trend towards $2.4 in the weeks ahead. As of the time of writing, the current CoinGecko price for Filecoin (FIL) stands at $3.04. Over the past 24 hours, FIL has experienced a decline of 1.7%, while the seven-day period has seen a slump of 4.3%. These recent declines add to the challenges that FIL has been facing in its price action. Filecon seven-day price movement. Source: Coingecko Investor Perspective: A Silver Lining For Filecoin Despite the prevailing challenges, some seasoned investors are turning their attention to Filecoin. A report cites Filecoin’s unique value proposition, an accomplished team, and an incentivized mechanism as reasons for optimism. Filecoin, as a decentralized data storage system, allows users to securely store and retrieve data in a decentralized manner. Its expert team is committed to ensuring its continued development and success. Moreover, the incentive mechanism rewards users with FIL tokens for sharing their storage space, fostering a robust and self-sustaining ecosystem. Filecoin’s technical indicators may currently signal a challenging road ahead, with a downtrend seemingly in progress. However, some investors remain undeterred, recognizing the project’s unique strengths and the potential for a brighter future. As the cryptocurrency market is ever-volatile, only time will reveal whether Filecoin can overcome its current obstacles and thrive in the long run. (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 CryptoSlam

Bitcoin price broke the key $25,350 support. BTC is now consolidating near $25,000 and remains at a risk of more downsides in the near term. Bitcoin traded below the $25,600 and $25,350 support levels. The price is trading below $25,600 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $25,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $25,600 resistance. Bitcoin Price Breaks Key Support Bitcoin price failed to start a recovery wave and extended its decline below the $25,600 support. BTC even broke the $25,350 support and moved into a bearish zone. The price even spiked below the $25,000 level. A low is formed near $24,925 and the price is now consolidating losses. Bitcoin is now trading below $25,600 and the 100 hourly Simple moving average. Besides, there is a major bearish trend line forming with resistance near $25,620 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $25,200 level. It is near the 23.6% Fib retracement level of the downward move from the $26,040 swing high to the $24,925 low. The first major resistance is near the $25,600 level or the trend line. The trend line is near the 61.8% Fib retracement level of the downward move from the $26,040 swing high to the $24,925 low. The next key resistance is near $26,000. Source: BTCUSD on TradingView.com A proper close above the $26,000 level might start a decent increase. The next major resistance is near $26,200, above which the bulls could gain strength. In the stated case, the price could test the $26,500 level. More Losses In BTC? If Bitcoin fails to recover the $25,600 resistance, it could continue to move down. Immediate support on the downside is near the $25,000 level. The next major support is near the $24,800 level. A downside break and close below the $24,800 level might call for more downsides. In the stated case, the price could drop toward $24,500 or even $24,000. 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 – $25,000, followed by $24,800. Major Resistance Levels – $25,200, $25,600, and $26,000.

Ethereum price extended its decline below the $1,550 support against the US Dollar. ETH is recovering losses, but upsides might be capped near $1,620. Ethereum gained bearish momentum below $1,580 and $1,550. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,605 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher but the bears might remain active near $1,600 and $1,620. Ethereum Price Breaks Down Ethereum’s price failed to settle above the $1,620 pivot level. ETH started a fresh decline and settled below the $1,600 level, like Bitcoin. There was a drop below the $1,580 and $1,550 levels. It retested the $1,530 zone. A low has formed near $1,530 and the price is now correcting losses. There was a minor increase above the $1,550 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,670 swing high to the $1,530 low. Ether is now trading below $1,600 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance near $1,605 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,600 level or the 50% Fib retracement level of the downward move from the $1,670 swing high to the $1,530 low. The next resistance is near the $1,605 level or the trend line. Source: ETHUSD on TradingView.com The first major resistance is near $1,620, above which the price could rise toward the $1,650 level. The next major hurdle is near the $1,670 level. A close above the $1,670 level might send Ethereum further higher toward $1,750. Another Drop in ETH? If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,550 level. The first key support is close to $1,530. The next key support is $1,500. A downside break below $1,500 might spark more bearish moves. In the stated case, there could be a drop toward the $1,440 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,530 Major Resistance Level – $1,620

Bitcoin Cash price is holding the key $180 support against the US Dollar. BCH seems to be aiming for a fresh increase toward the $205 and $220 levels. Bitcoin cash price is showing positive signs above the $180 level against the US Dollar. The price is trading below $200 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $189 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate higher if it clears $197 and $200. Bitcoin Cash Price Aims Higher In the past few days, Bitcoin Cash price saw a steady decline below $205. BCH even traded below the $195 level, but the downsides were limited compared to Bitcoin and Ethereum. The price remained well-bid near the key $180 support. A low has formed near $180 and the price is now attempting a fresh increase. It broke the $185 level. There was a break above a major bearish trend line with resistance near $189 on the 4-hour chart of the BCH/USD pair. The price is now testing the 23.6% Fib retracement level of the downward move from the $238 swing high to the $180 low. However, Bitcoin Cash is now trading below $200 and the 100 simple moving average (4 hours). Immediate resistance is near the $197 level and the 100 simple moving average (4 hours). The next major resistance is near $205 or the 50% Fib retracement level of the downward move from the $238 swing high to the $180 low. Source: BCH/USD on TradingView.com Any further gains could lead the price toward the $220 and $225 resistance levels in the near term. The next major hurdle is near the $240 level. Dips Supported in BCH? If Bitcoin Cash price fails to clear the $205 resistance, it could start a fresh decline. Initial support on the downside is near the $185 level. The next major support is near the $180 level, where the bulls are likely to appear. If the price fails to stay above the $180 support, the price could test the $168 support. Any further losses could lead the price toward the $150 zone in the near term. Technical indicators 4-hour MACD – The MACD for BCH/USD is gaining pace in the bullish zone. 4-hour RSI (Relative Strength Index) – The RSI is currently above the 50 level. Key Support Levels – $185 and $180. Key Resistance Levels – $197 and $205.

SAN FRANCISCO–(BUSINESS WIRE)–#accelerator–The Japan External Trade Organization (JETRO) will be sponsoring the Japan Pavilion once again at TechCrunch Disrupt 2023 (September 19-21) in San Francisco, as part of the J-StarX program, which aims to foster entrepreneurship in Japan. This year, JETRO will showcase 10 carefully selected Japanese startups across a variety of industries, including enterprise technology, Web3, generative AI, and more. The Japan Pavilion will be located at the Moscone West Expo Hall, Booth #PV4. JETRO will also host a pitch session featuring all the startups on September 19th from 3:30-4:00 PM at the Pitch Showcase Stage located in the Expo Hall. In preparation for this, JETRO will conduct a bootcamp for participating startups with the support of Silicon Valley accelerator US Market Access Center (USMAC) to help the entrepreneurs hone their networking and English-language pitch abilities. For up-to-date information, please visit: http://www.jetro.go.jp/usa/topics/disrupt2023.html Exhibitor List: 1). bajji, Inc. https://corp-en.bajji.life/ Environmentally friendly NFT that supports CO2 reduction projects 2). Beatrust Inc. https://en.corp.beatrust.com/ Digital platform to facilitate communication and collaboration within a company 3). BoostDraft Inc. http://boostdraft.com/ AI-powered document editor that simplifies the process of reviewing legal documents 4). Final Aim, Inc. https://final-aim.com Web3 startup that uses blockchain to provide design and manufacturing solutions 5). HARTi Inc. https://harti.tokyo IoT device that has reinvented the photo booth for the Web3 era 6). Nostal Homes Inc. https://www.nostalhomes.com/ Online marketplace for buying and selling vacation homes from abroad 7). Qlay Technologies, Inc. http://qlay.ai/en Generative AI tool to support product planning and development of consumer goods 8). Solafune, Inc. https://solafune.com/en Data science competition platform that specializes in satellite and geospatial data 9). Ubiq Co., Ltd. https://ubiq-world.com/?lang=en Created the rewardable donation platform “Charity Mall” 10). yodayoda Inc. http://yodayoda.co Pay-for-street view map generation and sharing platform for automatic driving and other robotic applications For more information or to schedule a meeting with one of the Japanese exhibitors, contact Will Ferguson at [email protected]. For more information on TechCrunch Disrupt 2023, visit their homepage HERE. About JETRO: JETRO is the Japanese government agency responsible for promoting trade and investment between Japan and the rest of the world. JETRO provides support and assistance to American companies entering the Japanese market and to Japanese companies expanding overseas. JETRO was established in 1958 and has more than 70 offices around the world, including six offices in the USA. JETRO provides a wide range of services, including timely market intelligence, extensive business development support, and relevant business events, all designed to encourage business partnerships between American companies and Japan. Contacts Will Ferguson, JETRO San Francisco, [email protected]

Debuting next Spring, TOKEN2049 Dubai takes place from 18-19 April 2024 The new edition sees the establishment of a biannual conference in Dubai and Singapore, taking place in the world’s most exciting crypto capitals Dubai edition announced as TOKEN2049 Singapore fully sells out amid record-breaking attendee numbers DUBAI, United Arab Emirates–(BUSINESS WIRE)–#token2049—TOKEN2049, the leading global Web3 and crypto conference, announced today its inaugural Dubai edition, which will be taking place from 18-19 April 2024. Held at Madinat Jumeirah, a world-class, luxury five-star resort, TOKEN2049 Dubai is set to welcome entrepreneurs, investors, developers, industry leaders, and global media as it transforms the city into a vibrant hub of innovation and forward momentum. Throughout TOKEN2049 Week, commencing from 15-21 April 2024, attendees will experience a diverse range of side events, workshops, and exclusive networking opportunities. This announcement comes as TOKEN2049 Singapore breaks its ticketing sales records and is now fully sold out, with over 10,000 confirmed attendees from across the globe. Celebrating the launch of TOKEN2049 Dubai, Alex Fiskum, Co-Founder of TOKEN2049 said: “We are very excited to bring TOKEN2049 to Dubai, a city known for its large community, enthusiasm, and innovation in the Web3 space. Following the success of TOKEN2049 Singapore, solidifying our brand as the premier global industry event, we are committed to delivering an exceptional, new experience in Dubai.” As one of the industry’s long-standing conference series, TOKEN2049 has fast cemented its position as a global, iconic gathering with past editions consistently dubbed as the crypto event of the year. Over the years, its appeal has extended beyond the Web3 and crypto ecosystem, pointing to crypto’s transformative potential across a broad range of industries. “The decision to bring the event to Dubai underscores the city’s growing prominence as a global industry hub. The strategic location and forward-thinking approach to technology makes Dubai an ideal host for an event like ours” continued Fiskum. TOKEN2049 Singapore will commence from 13-14 September at Singapore’s iconic Marina Bay Sands and is the largest edition of the conference to date. As the centre stage for TOKEN2049 Week, this year’s conference sees over 400 side events across the city-state, culminating in the iconic after-party AFTER2049 which takes over the Marina Bay Sands Observation Deck and CÉ LA VI Singapore. For more information on ticketing and updates on TOKEN2049 Dubai, please visit dubai.token2049.com. Alex Fiskum, Co-Founder of TOKEN2049 is available for interview. ABOUT TOKEN2049 TOKEN2049 is a global conference series, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry. To date, editions have been held at leading digital asset capitals including Hong Kong, Singapore, and London, with its latest edition taking place in Dubai in April 2024. Contacts [email protected]

The Grayscale Bitcoin Trust (GBTC) share price has again made headlines. Its premium or discount to Bitcoin’s net asset value (NAV), often viewed as an indicator of institutional sentiment towards the cryptocurrency, has displayed a notable trend recently, even amid the prevailing bearish atmosphere. GBTC’s Evolving Price Dynamics The phenomenon of GBTC’s share price inching closer to Bitcoin’s market price is worth noting. The correlation between the two has been historically significant, with price differences often shedding light on broader market sentiments. According to data from CoinGlass, a renowned crypto monitoring platform, the GBTC shares were recorded trading at a 17.17% discount to the BTC/USD rate as of September 9th, the last update. Such levels haven’t been witnessed since December 2021, highlighting a potentially shifting sentiment in the market. The so-called “GBTC Premium,” previously a surplus, has been a discount to the net asset value for a while now. The shift was drastic at one juncture that the differences neared roughly 50% last November. Such variance has led to a divergence between GBTC’s performance and Bitcoin’s price strength, especially as Bitcoin revisits price zones it hasn’t seen in the past six months. What This Could Mean For Bitcoin The narrowing of GBTC’s discount isn’t just an isolated event. It paints a broader picture of potential market sentiment shifts and future movements. Notably, a shrinking discount can be interpreted as a sign of growing institutional interest, as the GBTC serves as a prominent avenue for institutions to gain exposure to Bitcoin without directly holding the asset. If institutional interest is indeed on the rise, this could bode well for Bitcoin’s mid to long-term price outlook. Nevertheless, Bitcoin is currently seeing a downtrend. The asset has plunged nearly 15% in the past month and 2% in the last 24 hours. As a result, its price has fallen below the recently established $26,000 mark, trading at $25,175 at the time of writing. According to Cryptocon, a trader and analyst, Bitcoin might see a weaker performance this month as October often brings a turnaround and more decisive price action. This perspective aligns with a prevalent crypto community theory that marks November 28th as a quadrennial “bull run launch” for Bitcoin. Featured image from iStock, Chart from TradingView

The team filed a second motion for pre-trial release on September 8. The legal team for SBF said that their client has not received the promised internet access. Lawyers for FTX ex-CEO Sam Bankman Fried (SBF) have asked for him to be released from federal prison before his trial because of a lack of reliable internet access there. The defense team for SBF claimed that a slow internet connection prevented them from properly preparing their case. The legal team stated: Motion Sent to Judge Panel After an appellate judge dismissed SBF’s plea for immediate release from prison on September 6, the team filed a second motion for pre-trial release on September 8. The motion was sent to the subsequent three-judge panel by the judge. The legal team for SBF said that their client has not received the promised laptop access from the government between the hours of 8 a.m. and 7 p.m., Monday through Friday. The attorneys also mentioned other occasions when SBF’s use of a laptop to access the internet was interrupted due to prison proceedings. On September 1st, SBF lost four hours of work time when he was summoned back to his cell at 2:30 p.m. for a headcount. On September 6, he was held in his cell until 11 a.m. before being released. SBF was only able to access the discovery database and study one document due to the bad internet connection. Highlighted Crypto News Today: Shiba Inu Price Faces Significant Decline Despite Burn Rate Surge

A Responsible Influence Certificate has been established but is voluntary. A minimum of 75% accurate answers on 25 multiple-choice questions is required. France is moving toward outright licensing so-called “finfluencers,” who advocate financial goods on their websites. A Responsible Influence Certificate has been established but is voluntary. The French financial markets regulator, the Autorité des Marchés Financiers, and the professional advertising authority, the Autorité de Régulation Professionnelle de la Publicité (ARPP), have collaborated to create a training module for industry influencers, as reported on September 7. Cryptocurrencies Included The ARPP first presented the “Responsible Influence Certificate” in 2021. There are over a thousand influential French people that have it. This new credential will include a course tailored to financial influencers, covering everything from wine to stocks, bonds, ETFs, mutual funds, and derivatives. The statement also makes reference to crypto assets. A minimum of 75% accurate answers on 25 multiple-choice questions is required to get the Responsible Influence Certificate in Financial Advertising. Although the certificate is not a legally binding document, the ARPP might revoke it from noncompliant influencers. In addition, the ARPP’s “General Certificate,” designed for all influencers, must be obtained before one may pursue the Responsible Influence Certificate. In May 2023, the French Senate passed a law that legalized the use of social media influencers by cryptocurrency enterprises. However, authorities in the United Kingdom have issued a warning to influencers that such advertisements may constitute a crime. Along with a maximum sentence of two years in prison and a heavy fine. Furthermore, the European Consumer Organization has pushed for a blanket ban on crypto influencer marketing. Highlighted Crypto News Today: Bitcoin Price Breaks Below Key Support Level Amid Bear Dominance

Bitcoin, the world’s most valuable cryptocurrency, is free-falling, looking at price action on September 11. From the daily chart, BTC is trading at $25,135, a marginal improvement after dropping to H2 2023 lows of $24,951 minutes earlier following an unexpected dump in the early trading hours of the New York trading session. The Bitcoin Sell-Off Takes Form The crash on September 11 saw the coin drop below the consolidation of the past few trading days with the bearish breakdown, looking at price action, canceling bulls of August 31, and setting an increased selling pressure on August 17. The September 11 sell-off has seen a wide-ranging bear candlestick form. Even though it continues to print, it has relatively high trading volume, indicating high participation levels. Since the bar has above-average volumes, BTC will likely edge lower in the direction defined by the conspicuous bear bar of August 17, when the coin fell 12%, forcing BTC to trend below the $28,700 support level. Looking at price action, Bitcoin bears are in control and are actively reversing gains posted between June and July 2023. Then, Bitcoin prices rose from around the $20,000 level to as high as $31,800 by the end of July 2023. Afterward, the coin peaked and began falling as talks of a spot Bitcoin Exchange-Traded Fund (ETF) faded following the Securities and Exchange Commission’s (SEC) decision to put off their decision. At spot rates, Bitcoin is down 20% from July 2023 lows but trading at critical Fibonacci retracement levels of the June to July 2023 resistance levels. Even though BTC and crypto prices tend to post deep retracements, the coin may find support at around $25,000. However, further losses from spot rates in continuation of the August 17 bear bar may see sellers press on rewind gains and force BTC towards June 2023 lows at around $20,000. The Death Cross On The Bitcoin Chart Based on technical candlestick arrangements, one analyst notes that the coin closed below the $25,600 mark after the close of last week’s bar. With this dip, the Ichimoku Cloud indicator has printed a “Death Cross.” Technical analysts note that Bitcoin prices tend to dump when this pattern forms before eventually rebounding over several weeks. Previous instances of the “Death Cross” occurred in June 2021 and January 2022, which saw BTC drop 19% and 23%, respectively. Based on this, if a “Death Cross” prints, BTC may dump by 21%, forcing the coin back to the $20,000 level or June 2023 lows. Before then, BTC has to breach strong support levels at $25,600, $24,000, and $23,200 before retesting the $20,300 zone.

One coin that analysts seem to still be bullish on is Cardano’s native token ADA. However, despite all of the faith that remains in the digital asset, the price continues to tank and has fallen below multiple important support levels. Analyst Goes Deep On Cardano In an interview hosted by Altcoin Daily, crypto analyst Hashoshi shares very bullish views on the Cardano network. He starts out by explaining that the design decisions being made by the Cardano network have been some of the better ones in the space. Going further, Hashoshi lauds the development rate of protocols on the blockchain as projects continue to build. “Cardano’s done things almost completely different from the start,” the analyst said. “They’re in a good position right now, despite what people might believe, to make a resurgence if the conditions are correct,” he further added. For the price of ADA, the analyst explains that with liquidity coming back into the crypto space, the price of the digital asset could reach above its previous all-time high of $3.10. “The community is still strong… and I think then you see them outstrip that previous all-time high.” Hashoshi is not the only analyst bullish on the price of ADA going forward. Another analyst Kara Szabo has predicted that the price of the digital asset could climb to $5. Szabo also bought $20,000 worth of ADA at the start of September, signaling the analyst’s conviction on the altcoin’s bullish performance going forward. “My conservative price estimate for the next bull run is $5,” Szabo said on X. “I know some people will think this is low, but this is a 20x from the current price!! For a large market cap alt, this very well may be one of the best plays in crypto at the current price point.” But Why Is ADA Price Falling? Despite the bullish sentiment that has enveloped the digital asset, the ADA price has continued to struggle in the market. The reason for this decline can be attributed to a significant amount of ADA being unstaked from smart contracts, causing the total staked ADA to slide downward. Data from DeFi tracker DeFiLlama shows that the total tokens staked on the Cardano network dropped from above 777 million on September 2 to 733 million on September 11. This meant that over 43 million ADA were unstaked and likely made their way to the open market as these holders sold their stash. Such a large amount being dumped into the market in a period of low liquidity could see the altcoin continue to drop, especially if more ADA is unstaked to be sold in the open market. However, ADA’s long-term outlook remains bullish as the Cardano network remains one of the networks with the most developments taking place. As developers flock to the network, investors are expected to follow. At the time of writing, ADA is struggling at $0.24, down 2.33% in the last day and 5.10% in the last week.

Bitcoin dipped 14% in the past 30 days. BTC price declined all the way till $$25,060, breaking the key support level of $25,510. In the ever-volatile world of cryptocurrency, Bitcoin, the largest market capitalization holder, has found itself facing relentless bearish pressure, sending shockwaves throughout the market. BTC price declined all the way till $$25,060, breaking the key support level of $25,510. This has resulted in a 14% decline over the past 30 days. Adding to the uncertainty, Bitcoin made headlines with news of a user paying a staggering transaction fee of 19 Bitcoin (BTC), equivalent to $509,563. This came to light through Whale Alert, an analytics provider that tracks large cryptocurrency transactions. This fee is way higher than the average transaction cost and has led to rampant speculation regarding the circumstances. The impending Bitcoin halving and the long-awaited SEC approval of Bitcoin ETFs hold the promise of reshaping the cryptocurrency landscape. On the other hand, traders and investors draw parallels with Bitcoin’s historical dips in 2015-16 and 2019-20, during which the cryptocurrency orchestrated impressive comebacks. Meanwhile, data from IntoTheBlock, a crypto data analytics platform, reveals that 69% of Bitcoin are held for over a year, while 25% is held for 1-12 months, and the remaining 7% is held for one month. Where is Bitcoin Heading? A close examination of Bitcoin’s recent price movements reveals an underlying bearish trend on the daily chart. The 50-day exponential moving average (EMA) currently stands at $27,232, underscoring the prevailing bearish sentiment. The daily relative strength index (RSI) at 36 suggests that Bitcoin is edging into oversold territory. Source: CoinMarketCap Buyers now find themselves at a crucial juncture, needing to propel and sustain Bitcoin’s price above $26,833 to initiate a relief rally towards the 50-day simple moving average (SMA) at $28,048. Such a move could signal that Bitcoin might remain within the broad range of $24,800 to $31,000. The price recently broke the key support level of $25,510 and is currently trading at $25,174. Moreover, the bears are eyeing a breach of the support zone between $24,800 to $24,000. Should they succeed, the selling pressure could intensify, potentially driving the BTC price down to $20,000.

HAMILTON, Bermuda–(BUSINESS WIRE)–The Bermuda Business Development Agency (BDA) is pleased to announce that BermudAir is the official airline partner of the Bermuda Tech Summit 2023. As a result, BermudAir will provide special delegate pricing for those who book with them to attend the conference. Adam Scott, BermudAir Founder and CEO said, “BermudAir is delighted to support the Bermuda Tech Summit 2023. The value that this event brings in terms of key learning and thought leadership for business innovation is immense. Innovation is also central to our own business, so we look forward to discovering the latest technological trends applicable to our partners in this market. We’re very happy to help industry leaders and innovators come together in our global business hub here in Bermuda for this important event.” David Hart, CEO, BDA said “It has been a privilege to work with the team at BermudAir along their exciting journey to launch a new airline from Bermuda and we could not be more pleased to have them as our official airline partner for our fifth annual Bermuda Tech Summit. We strongly encourage all delegates travelling from the US east coast to take advantage of these great rates and enjoy a truly Bermudian experience both in transit to and upon arrival in, our beautiful island home.” Delegates will receive the discount information directly from the BDA. The BDA is also pleased to announce a one-time, final extension to our hotel room special rate through to September 15. From September 16, hotel room rates will increase significantly, or may be completely sold out, due to limited availability. Delegates travelling from overseas are strongly encouraged to book their hotel rooms now with our special rates. The Bermuda Tech Summit, held from October 8-10 at the Hamilton Princess & Beach Club, is the signature event of Bermuda Tech Week, being held across multiple locations from October 7-13. The 2023 Bermuda Tech Summit will kick off on October 9, with a keynote conversation between The Hon. E. David Burt, JP, MP, Premier of Bermuda, and Sandra Ro, CEO, Global Blockchain Business Council. This year’s agenda highlights Bermuda’s world-leading digital asset framework, showcases our ongoing work to establish blue and green investment facilities, and raises awareness of Bermuda’s innovation sandbox and option to beta test CleanTech solutions. Panels will include: ‘The Transformative Power of Artificial Intelligence,’ ‘FinTech’s New Wave (Buy, Build or Modernise),’ and ‘Insuring Continuity – Safeguarding the Future of Digital Assets.’ Additional topics will include data privacy, carbon credit trading platforms, and pioneering digital assets. The BDA’s promotion of these activities aligns with the ‘Business Attraction and Investment Promotion’ strategic priority outlined in Bermuda’s Economic Development Strategy. In addition to cutting-edge content, we are pleased to offer delegates C-suite networking opportunities during our opening reception on Sunday night sponsored by BermudAir and wrap party Tuesday night sponsored by RELM. Click here to register. Click here to see the full agenda and event description. “The BDA simply could not put on our signature events without the generous support of our sponsors,” Mr. Hart said. “We are just so pleased to have Carey Olsen and RELM as diamond sponsors; Appleby, CCS Group Limited and XBTO as platinum sponsors; Hub Culture, KPMG, and One Communications as gold sponsors; Chainproof, Clarien, Paradise Mobile, and Walkers as silver sponsors; and Coinbase as supporting sponsor. Our airline partner is BermudAir, and our spirits partner is Gosling’s.” If you are interested in sponsoring the Bermuda Tech Summit, click here or email [email protected]. CONNECTING BUSINESS The BDA encourages direct investment and helps companies start up, re-locate, or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Contacts Stuart Roberts, Director of Marketing & Communications [email protected] | +1 441 292 7774

In a recent Monday court filing, it was disclosed that the estate of bankrupt crypto exchange FTX has amassed approximately $7 billion in assets (3.4B in crypto), including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC). The news sent shockwaves through the cryptocurrency market, with SOL and BTC experiencing negative price movements. SOL And BTC Experience Declines As FTX Prepares For Liquidation Solana (SOL), trading around the $20 level on Sunday, witnessed a significant decline in response to the news. Its price plummeted to its current level of $17.83. Bitcoin (BTC) also retraced by over 2.7% in the past hours, reaching as low as $24,9000. In addition to SOL and BTC, the court filing revealed other significant holdings of the FTX estate. These include Ethereum (ETH), valued at $192 million, Aptos (APT) at $137 million, Tether’s stablecoin (USDT) at $120 million, and XRP at $119 million, among others such as wrapped Bitcoin (WBTC) and wrapped Ethereum (WETH), Bit (BIT), and Stargate Finance (STG). The court filing further highlighted that the FTX estate had secured cash throughout the Chapter 11 process, employing a post-petition cash management system. The Debtors “successfully” navigated the Q1 2023 financial banking turmoil and obtained fiat from more than 30 banking institutions worldwide. Cash has been consolidated and safeguarded within a Master account, with unrestricted cash increasing primarily through venture investment monetization and stablecoin conversions. This Wednesday, the FTX estate is expected to seek approval to liquidate approximately $3.4 billion of cryptocurrencies. This step marks a significant milestone in the bankruptcy proceedings. Options For Relaunch? On September 11, Fortune Magazine reported that the FTX estate had approached over 75 potential bidders, evaluating the possibility of relaunching the bankrupt crypto exchange. The stakeholders were given a deadline of September 24 to submit their proposals for “FTX 2.0.” The process considers various potential structures, including acquisition, merger, recapitalization, or other transactions to relaunch FTX.com and/or FTX US exchanges. While the specific identities of the bidders remain undisclosed, blockchain technology company Figure and venture capital firm Tribe Capital have been previously mentioned as potential suitors for the relaunch. The exploration of FTX’s relaunch represents a key development in the effort to sell off, rebrand, or restart the exchange, which has been at the center of a high-profile white-collar criminal case. FTX’s native token, FTT, has experienced positive price movement on news of the potential launch of FTX 2.0. On Monday, it traded nearly 17% higher than at the beginning of the year, reflecting market optimism surrounding the prospect of a relaunch. As the bankruptcy proceedings unfold and the FTX estate moves towards liquidation, the crypto industry will closely monitor the impact on the market and the resolution of outstanding debts. The search for bidders to revive the exchange introduces an additional layer of complexity to this evolving situation, with potential implications for the future of FTX and its stakeholders. Overall, the bankruptcy of the failed crypto exchange has revealed substantial asset holdings of $7 billion, including significant amounts of Solana (SOL) and Bitcoin (BTC). The subsequent market reactions and the quest for bidders to relaunch the exchange have brought further uncertainty to the crypto landscape. The outcome of the bankruptcy proceedings and the relaunch efforts will shape the future trajectory of FTX and its position within the industry. Featured image from iStock, charts from TradingView.com

The ID may be used to get entry to Animoca’s whole portfolio of over 450 enterprises. Yat Siu said that the project’s DAO-based strategy prioritizes the community. Animoca Brands, a Web3 and gaming firm, recently announced the successful completion of a fundraising round to hasten the creation of its Mocaverse platform. To boost its mission of making the Mocaverse project the identification and point system for Web3 games, culture, and entertainment, Animoca raised $20 million. Animoca Brands’ co-founder and current CEO, Yat Siu, has said that the project’s DAO-based strategy prioritizes the community in order to facilitate cooperation across the whole Animoca ecosystem. In addition, he said, it would function as “the digital identity, reputation, and loyalty system for other decentralized organizations.” Boosting Web3 Adoption Moca ID will be a set of NFTs that lets its users “accrue reputation, earn and spend loyalty points,” and otherwise establish a digital identity. The ID may be used to get entry to Animoca’s whole portfolio of over 450 enterprises. The number of user addresses in this network is above 700 million, the release claims. Moreover, Sky Mavis’s Aleksander Larsen and Yield Guild Games’ Gabby Dizon were among the investors in this round of fundraising. It was headed by CMCC Global, one of Asia’s first and leading venture capital investors in the blockchain sector. Martin Baumann, co-founder of CMCC Global, said: After a lull in focus on the metaverse, this new advancement has emerged. However, after receiving a great deal of attention in 2022. The metaverse is now being overshadowed by more cutting-edge technology such as artificial intelligence. Highlighted Crypto News Today: Shiba Inu Price Faces Significant Decline Despite Burn Rate Surge

New Game Studio Reveals F2P Strategy Game Age of Dino, Coming Soon to PC and Mobile SINGAPORE–(BUSINESS WIRE)–MMO and strategy game experts GamePhilos Studio has raised $8 million in seed funding from Xterio Ltd., Animoca Ventures, SevenX Ventures and Chain Hill Capital, with participation from Hashkey Capital, Sanctor Capital, Game7, Bas1s, GSR Markets and GSG Ventures. The studio team is helmed by game industry leaders with years of experience at Netease, Zynga, FunPlus, ByteDance, Longtech, Blizzard Entertainment and other major industry players, and will use the funding to develop and distribute its upcoming mobile and PC strategy game Age of Dino. “We are thrilled to be partnering with such a proven team of expert strategy game developers, most of whom yield from FunPlus, and have led multi-billion dollar properties,” said Jeremy Horn, COO, Xterio. ”Age of Dino is a flagship title for the Xterio platform that will demonstrate how we successfully launch and operate massive free-to-play PC and mobile games with on-chain assets.” By blending elements from the web 3.0 ecosystem and traditional gaming platforms, the title aims to redefine digital ownership and how strategy players can earn, use and trade collectibles and resources. GamePhilos intends to position itself as the leader in web3 strategy gaming for experienced strategists and those looking for a new challenge. Age of Dino places the player amid a war for survival between conflicting factions that have mastered genetic manipulation to create dinosaur war machines. The action unfolds in real-time battles as players explore and conquer new areas of the in-game world, with particular focus on multiplayer, both cooperative by providing novel alliance and trading systems, and competitive by introducing new tribe battle modes and gameplays. With deep city, characters, and armies customization set in a visually stunning universe, Age of Dino delivers a rich and unique game experience to strategy fans. The title will leverage the Xterio Foundation platform, specializing in free-to-play games with meaningful web3 integrations. The Xterio platform will provide critical blockchain-related technical support and a Software Development Kit (SDK) for Age of Dino. The Xterio Foundation and its ecosystem partners jointly have raised more than $65 million to date in funding to create engaging, immersive gaming experiences driven by player ownership. GamePhilos licenses the FunPlus game engine, known for its 4X games such as State of Survival, to develop Age of Dino on a proven engine with a successful history of performance, stability and scalability. Additionally, GamePhilos is receiving the art direction and support of Imagendary Studios, founded by renowned former Blizzard artist Wang Wei, to help design the upcoming NFT collections. Age of Dino will be one of the first projects deployed on BNB Chain’s layer 2 opBNB showcasing its scaling capabilities. “Binance Labs recognizes the potential of a new wave of web3 game studios and publishers that are poised to accelerate the mainstream adoption of web3 gaming,” said Nicola W., Investment Director, Binance Labs. “Among these, we’re excited about Xterio’s high-quality game title, Age of Dino, and we look forward to seeing them harness opBNB to enable seamless gameplay experiences for users on the BNB Chain.” Age of Dino is scheduled to launch in selected countries early next year on mobile devices. About Xterio Xterio Foundation in Switzerland was founded with a Council and a team of technology and entertainment leaders with deep free-to-play games experience on a mission to develop, publish and distribute high-quality web2 and web3 games and interactive entertainment. To learn more, please visit xter.io and follow along at @XterioGames. About GamePhilos Headquartered in Singapore, GamePhilos has 28 employees and was founded in July 2022. The company intends to break new ground by introducing player digital ownership to mobile strategy games. Follow along at @AgeofDino. Contacts Sibel Sunar fortyseven communications for Xterio [email protected]

Former CEO Faruk Fatih Özer of the bankrupt Turkish crypto exchange Thodex has been given a record-breaking prison sentence for stealing $2 billion in customer funds. Crypto CEO Sentenced To 11,196 Years Prison Sentence On Thursday, September 7, 2023, the former CEO of Thodex, which was one of the biggest cryptocurrency exchanges in Turkey, was reportedly sentenced to 11,196 years, 10 months, and 15 days in prison for several criminal charges including fraud, leading a criminal organization, and money laundering by the Anatolian 9th Heavy Penal Court. The former CEO reportedly defrauded over 400,000 Turkish customers of more than $2 billion in deposits when the exchange went offline in April 2021, and Özer fled the country immediately after the exchange went offline. The prosecutors had initially requested a 40,562-year prison sentence for the former crypto exchange CEO. However, the final verdict saw the sentence reduced to 11,196 years, the longest sentence so far for a crypto crime. Furthermore, a judicial fine of 135 million Liras was also imposed on the former CEO, according to local media. Faruk Fatih Özer was not the only one involved in the alleged crime. Following the investigation, 83 people were arrested and detained, and four other senior employees were jailed. When the case was thoroughly investigated, Özer‘s sister Serap Özer, and brother Guven Özer, were also found guilty of the same charges and were given the same prison sentence respectively. Although these jail terms may seem outrageous and unfamiliar to many, they are very common in Turkey due to the country’s death sentence eradication since 2004. In 2022, TV cult preacher Adnan Oktar was convicted of fraud and sexual assault and was sentenced to 8,658 years in prison along with 10 of his followers. Former Thodex Boss Denies Criminal Claims The 29-year-old former crypto boss was arrested in Albania in August 2022 where he was serving jail terms after fleeing Turkey in April 2021 when his crypto exchange first collapsed. Before his arrest, Özer denied claims against him fleeing the country intentionally when the Thodex exchange went dark. His response to the allegations was that he was out of the country because of business meetings. Özer was arrested after Interpol issued a red notice against him, and was extradited back to Turkey in April 2023 to face the charges against him. He was then detained by the police upon arrival and held on seven charges. Some of the charges included establishing and managing an organization with the purpose of committing a crime, fraud by using information systems as a tool of banks or credit institutions, being a member of an organization, fraud of merchants or company executives and cooperative managers, and laundering the value of assets resulting from crime, among others. The court believed that Özer had fraudulent intentions right from the beginning and that the crypto exchange Thodex was a criminal organization from the start. However, Özer denied these claims against him and said Thodex was just a crypto company that went bankrupt in 2021 and had no fraudulent intention. He also told the court that he was very smart and he would not have acted so amateurish if he was looking to be a criminal.

In an interview with CNBC on Monday, David Marcus, former President of Paypal and Head of Facebook Payments, expressed his belief that Bitcoin (BTC) is the universal protocol for money on the internet. He emphasized Bitcoin’s significance as the flagship cryptocurrency and its core value as a payment solution while discussing its potential as a global payment network. Bitcoin As The Universal Protocol For Internet Money Despite enduring a challenging period and navigating various headwinds in recent months, Bitcoin remains at the forefront of the cryptocurrency market. According to Marcus, Bitcoin’s prominence is not solely due to its market position but is also driven by its ability to serve as a universal protocol for internet money. Marcus highlighted the absence of a universal protocol for value transfer on the internet, stating, “There’s no universal protocol for money on the internet that enables value to be transported.” He explained that the vision is to transform Bitcoin into a global payment network, providing a seamless and efficient means of transferring value across borders. One of the advantages Marcus cited for Bitcoin is its availability and accessibility. Unlike traditional financial systems, where individuals may face fees and the need to visit a branch during limited hours, Bitcoin operates 24/7. This inherent characteristic of Bitcoin allows for greater convenience and flexibility, enabling users to transact at any time, including weekends. While acknowledging Bitcoin’s potential as a payment network, Marcus noted that its primary function may not be as a currency for everyday purchases. He stated, “Our view is that BTC is not the currency people will use to buy things.” However, he emphasized Bitcoin’s role as the universal protocol for money on the Internet, enabling secure and efficient value transfer across various digital platforms. As Bitcoin continues to gain attention and recognition, Marcus’s endorsement further solidifies its position as the flagship cryptocurrency and reinforces its potential as the universal protocol for internet money. BTC Trading Volume Hits Lowest Level Since 2019 According to Satoshi Club data, Bitcoin is experiencing a significant slump in its daily trading volume, reaching its lowest point since February 2019 at just $5.4 billion. This decline has been attributed to a lack of market enthusiasm following the collapse of FTX. Furthermore, Bitcoin’s price dipped to $24,900 on Monday, the lowest level since June, exacerbating concerns about a potential extended decline shortly. The dwindling daily trading volume of Bitcoin indicates a prevailing apathy among traders, with reduced participation and a lack of significant buy or sell activity. This trend is reminiscent of the market sentiment observed after the collapse of FTX, which has had a lingering impact on investor confidence. Of particular concern is that Bitcoin’s price dropped to $24,900 on Monday, reflecting a downward trend that has persisted since BTC reached its annual high of $31,800 on July 14. This decline has intensified worries among market participants about the possibility of a prolonged downward trajectory for Bitcoin in the coming weeks. The cryptocurrency has successfully reclaimed the $25,000 level; however, it continues to decline by over 1.5% within just a few hours of Monday’s trading session. Featured image from iStock, chart from TradingView.com