The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past months, has again made headlines due to Bloomberg ETF analyst Eric Balchunas’s recent suggestions. According to the analyst, should the US Securities and Exchange Commission (SEC) approve BlackRock’s Bitcoin spot ETF, a vast pool of $30 trillion capital overseen by US financial advisors could be directed toward Bitcoin investments. Notably, Balchunas clarified that while the approval of a BTC spot ETF could serve as an accessible pathway for the $30 trillion managed by financial advisors to flow into BTC investments potentially, it is not particularly sure if the entirety of the $30 trillion would move into Bitcoin. The analyst noted that only a fraction of that amount might consider investing. Balchunas noted: “But even if 0.5% of that allocates, it’s $150b.” Aftermath Of A BlackRock’s Bitcoin Spot ETF It is worth noting that when BlackRock, boasting over $9 trillion in assets under management, lodged its Bitcoin spot ETF application, it didn’t merely mark its entry. It also dramatically tilted the probability scales for an ETF approval. Before BlackRock stepped into the frame, the Bloomberg expert claimed that the odds of a BTC spot ETF seeing the light of day in the US hovered around a mere 1%. However, after BlackRock’s involvement, Balchunas disclosed in a podcast that the probability surged to 50%. Their application had consequences. Balchunas observed a subsequent surge in similar applications from renowned entities, namely ARK Investment, Valkyrie, and Fidelity. This underscored BlackRock’s influence and the escalating competition in the space. Balchunas noted: Spot ETF Vs. Futures ETF: The Real Potential The US isn’t entirely unacquainted with BTC ETFs. Bitcoin futures ETFs have already made their mark, albeit in a limited manner. As it stands, these futures-based ETFs amass roughly $1 billion in total assets under management. A figure that, though impressive, may appear minor in the face of a spot ETF’s potential. Balchunas went as far as to term the BTC spot ETF the “holy grail.” A product that, if approved, could overshadow existing futures ETFs and charge up the crypto domain in ways so far unseen. Meanwhile, amid the race to approve a Bitcoin spot ETF, BTC has been in a continuous downtrend over the past week. The asset has dipped below the $26,000 mark, down by 5.7%. Bitcoin currently trades for $25,501, at the time of writing, down by nearly 1%. Featured image from iStock, Chart from TradingView

Like most altcoins, Ethereum (ETH) has seen its price succumb to the negative market sentiment in recent weeks. This unfavorable market condition has consistently caused the second-largest cryptocurrency to trade beneath the $1,700 level. Could Ethereum Price Fall To $1,200? In an X post dated Wednesday, September 6, crypto analyst Ali Martinez offered insight on the price of Ethereum. The analyst shared that the value of ETH faces a potential significant correction to $1,200 if it stays below $1,680. Using data from the blockchain analytics platform IntoTheBlock, Martinez’s projection revolves around the purchasing areas where most investors acquire ETH. According to the analytics platform, the price zones beneath the range of $1,633 to $1,681 are “weak purchasing areas,” which hint at weak support. IntoTheBlock data shows few investors bought ETH beneath this level – down to the $1,385 price range. This ultimately implies that the support is thin around those levels – as indicated by the small size of the green circles in the image above. With weaker support at the lower price ranges, the Ethereum price might be unable to stay afloat should bearish pressure increase. This explains why crypto analyst Ali Martinez believes the ETH price beneath $1,680 is a source of concern for traders. Meanwhile, the significant percentage of holders currently at a loss exacerbates this risk. Some ETH investors may choose to sell their assets to cut their losses, which could trigger downward pressure on the cryptocurrency’s price. This Smart Whale Purchased 19,500 ETH – What Do They Know? On a positive note, an Ethereum whale has been purchasing ETH in the past two days, according to the on-chain analytics platform Lookonchain. On Tuesday, the 5th of September, the analytics platform revealed that the whale deposited $36 million USDC on Binance and withdrew 9,819 ETH (worth $15.9 million at the time). Subsequently, the whale withdrew 9,689 ETH (worth $15.8 million) from Binance on Wednesday, bringing their total purchase to 19,506 ETH (equivalent to $32 million). Typically, when large amounts of cryptocurrencies are moved out of centralized exchanges, it indicates that whales are accumulating – and sometimes anticipating a price rally. Moreover, looking at this particular whale’s past transactions shows that they have the habit of buying Ether at low prices and selling at high prices to make a profit. Hence, this latest transaction suggests that the whale is expecting a bounce. However, it is worth noting that the price of Ethereum has not changed in the past day. According to CoinGecko data, the Ether token currently trades at $1,624.35, with a 0.8% price decline in the last 24 hours.

Are you planning to integrate your existing business into a blockchain network? Introducing Entropy Network, now officially live for the general public. This groundbreaking new network is designed to make your integration process easier than ever before. At its core, Entropy is dedicated to reducing the barriers for WEB2-based services to seamlessly access blockchain services, all while providing service-specific private blockchains that ensure reliability. It serves as a comprehensive platform where users can both Experience & Earn (X&E), and explore the blockchain services that hold the promise of significant returns. Entropy Introduction: Navigating the Convergence Entropy’s journey begins with a vision to bring the decentralized world closer to the masses. The primary goal is to facilitate easy access to blockchain services for traditional web-based businesses, unlocking a treasure trove of opportunities. As users dive into this blockchain ecosystem, they can explore a range of services, including Play-to-Earn (P2E), Move-to-Earn (M2E), and Learn-to-Earn (L2E), with the potential to generate profits that were once beyond reach. But it doesn’t stop there. Entropy is committed to continually expanding its ecosystem, forming connections between diverse services and digital assets within its network. The platform’s compatibility with the Ethereum Virtual Machine (EVM) and support for Multichain through bridge chains ensure a seamless connection to the broader blockchain universe, opening doors to new possibilities. Entropy Architecture: The Foundation of Trust The network operates collectively, with multiple companies serving as validators under the supervision of the Entropy Foundation. Approval to join this foundation is granted through a rigorous deliberation process, ensuring that only the most dependable entities become part of the network. With a total of 21 Node Validators, Entropy employs a permission-based Proof of Authority (POA) consensus algorithm. This choice leads to shorter block generation cycles, lightning-fast transaction speeds, and cost-effective network operation. Blocks are generated every 3 seconds, accommodating an average capacity of 62.4 transactions per second (TPS) within a single block. What sets Entropy apart? Its commitment to fairness. Block validation and rewards follow a round-robin approach, eschewing competition in favour of sequential payments to validators. Block rewards are a combination of 0.2 ENT per node plus 10% of the Block Transaction Fee. Validators have the potential to mine ENT for a maximum of 25 years, promoting long-term engagement. Furthermore, 90% of transaction fees are allocated to self-burning, a strategy designed to preserve the value of Entropy Coin. Entropy Services: Powering the Future Within the Entropy ecosystem, a suite of services empowers users and businesses alike: Entropy Bridge: This feature seamlessly connects external public chains using bridge chains, ensuring interoperability and expanding the network’s reach. Entropy Scan: Real-time verification of all transactions and executed smart contracts, offering transparency and trust in the blockchain’s operations. Entropy Wallet: A secure haven for digital assets from all services integrated into the Entropy network, making asset management a breeze. Marketplace: Streamlining asset trading, this marketplace goes beyond traditional assets to encompass the exciting world of NFTs (Non-Fungible Tokens) and more. Future Plans: A Glimpse into Tomorrow The journey of Entropy is just beginning, and the roadmap ahead is laden with promises: Entropy SDK Release (Scheduled): An upcoming release that will empower WEB2 developers unfamiliar with blockchain to transition their services to WEB3 effortlessly using the Entropy SDK. Entropy Launcher Opening Soon: For gamers, the Entropy platform is set to offer seamless gameplay experiences within integrated games, creating a world of interactive possibilities. Upcoming Game/Service Onboarding: Exciting negotiations are underway to onboard various games, including the eagerly anticipated Frutti Dino Series game, slated for release in the latter half of 2023. This signals just the beginning of Entropy’s journey to reshape the future of blockchain-based gaming and services. In conclusion, Entropy Mainnet is a visionary gateway to Experience and Earnings (X&E) in the digital age. With a robust architecture, a commitment to fairness, and a roadmap teeming with innovation, Entropy is poised to redefine the way we engage with blockchain technology, making it accessible, profitable, and exciting for all. About Entropy Network: Entropy is a dedicated private blockchain designed to seamlessly handle transactions and contracts for a range of blockchain-based services, including DApps and NFT games. As a fast, secure, and decentralized community blockchain network, Entropy (ENT) is committed to establishing genuine ownership and facilitating transactions of digital assets. Our ecosystem offers a myriad of features, including X&E (Experience and Earn), NFT games, a marketplace, a secure wallet, and more. Connect via the official website, Discord, Medium, Twitter, and Telegram channels. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Agoria, NFC, Satoshi Island, Superchief Gallery & 25K Web3 Users, Supported by Leading Academics, Join PairedWorld in Harnessing the Power of Emerging Technology For Positive Social Impact ZUG, Switzerland–(BUSINESS WIRE)–PairedWorld Foundation, a visionary initiative that facilitates and incentivizes social connection IRL using emerging technology, today announces the launch of its blockchain-powered ecosystem with an innovative 4-token design and a mobile application as its core tools. By incorporating approximately 80,000 NFTs from existing communities and collections, PairedWorld has whitelisted its first 25,000 unique Web3 users through partnerships with nine founding communities spanning Web3, art, music, media, and events, including: Accelerate Art, Agoria, ModaDAO, Non Fungible Conference, Party Degens, Satoshi Island, Superchief Gallery, Synthopia, and WINK (Women I Need To Know). PairedWorld’s app, currently available on iOS, enables users to connect with others through various in-real-life gatherings that are scheduled in-app and initiated by community members. Participating in these gatherings – which range from intimate get-togethers to structured events – allows users to authentically form and grow their social connections while simultaneously earning rewards for participating and cementing their reputation within the ecosystem. The first gathering PairedWorld users will be able to attend and earn rewards is a Korea Blockchain Week side event co-hosted by PairedWorld and Superchief on September 7 at Sky Kingdom in Seoul. In addition to the main event in Korea, PairedWorld will simultaneously connect communities worldwide on September 7 through gatherings at Web3 galleries globally in a unique collective experience featuring livestreams from Korea, live talks with experts on the importance of social connections, and the opportunity to meet community members IRL. Event locations include NOX Gallery in Tokyo; IHAM Gallery in Paris; Unpaired Gallery in Zug, Switzerland; and Superchief Galleries in Los Angeles and New York City. For more information, visit the event website. Those in attendance who are not already part of the PairedWorld ecosystem will have the opportunity to claim a Soulbound token and start earning rewards on the app during this global kickoff event. Those not in attendance, but part of the PairedWorld ecosystem, will be also able to organise and host local gatherings, meet-ups, or any other type of events, connected or not to the launch event. “Meeting in real life is essential because IRL is where we fall in love – with ideas, experiences and each other,” said Edward Zipco, Founder of Superchief. “It exposes us to culture beyond the edges of the screen, and allows for random encounters beyond the control of the algorithm. And it reminds us that we are alive, and are surrounded by people who are also alive, and that when within the same space, we can find more meaningful ways to be alive together.” PairedWorld’s ecosystem is shaped by a collective that includes leading experts in the fields of neuroscience, psychology, and blockchain and draws profound insights from research and studies conducted by prestigious institutions, including Harvard’s renowned “Study of Adult Development: Relationships, Resilience, and Happiness.“. Studies show that building and nurturing strong relationships is the best way to live a happy, healthy life – and the PairedWorld Foundation is using that data paired with blockchain technology to catalyze essential relationship building. “At a time when people are spending more and more time alone, and much of our interaction is at a distance, we need to get out of our comfort zone or simply make time in our busy schedules to connect in person,” said Prof. Dr. Julianne Holt-Lunstad, Director of the Social Neuroscience Lab at BYU and PairedWorld advisor. “Connecting with others is one of the most powerful ways to live a happier, healthier, and longer life.” PairedWorld’s ecosystem went live with nine founding partner communities. With the official launch of the app, other communities are now able to apply to be a part of the ecosystem. The PairedWorld Foundation aims to encourage the formation of new social relationships within and across communities by providing incentives and rewards for in-person gatherings. These incentives are facilitated through a unique four-token design as the core of its rewards mechanism and its native mobile app. “At PairedWorld, we believe in the profound impact of social connections on happiness and well-being,” stated Raluca Cherciu, President of the Board at PairedWorld Foundation. “Our ecosystem launch and the integration of our first community partners mark a pivotal step in demonstrating that blockchain technology can be harnessed for positive social impact. PairedWorld isn’t just a platform; it’s an embodiment of values. It signifies a departure from superficial encounters and a return to meaningful relationships.” A multi-chain initiative, PairedWorld’s multi-community token ecosystem works by first evaluating partner community members’ connection to and reputation within its community and distributing Soulbound tokens accordingly. Soulbound tokens (EIP-6239), an immutable identity and reputation system, dictate how many Ticket Tokens (ERC-1155) are issued to each member on a regular basis. Ticket Tokens are then used to create or attend in-person events, both of which earn users a reward – the $PAIRED token (ERC-20) – which can be traded for other cryptocurrencies and fiat. While this model gives people a financial incentive to create in-person gatherings, it also fosters genuine intra-community and cross-community friendships tied to mutual interests, laying the foundation for long-term membership and engagement. For more information about PairedWorld or to get in touch with the team, visit Paired.world. ABOUT PAIREDWORLD PairedWorld is a global movement that redefines human connection in the digital age. Through a unique ecosystem that combines on-chain and real-life experiences, PairedWorld Foundation empowers and rewards individuals to create meaningful relationships, foster personal growth, and combat the global loneliness epidemic. With a focus on authenticity, well-being, and community, and featuring an innovative four-layer token design spanning multiple chains and communities, PairedWorld is committed to revolutionising the way we connect and interact in the modern world. Learn more at Paired.world or follow us on Twitter at @PairedWorld. Contacts Ally Norton [email protected]

Unique capability enables companies to perform digital verification for zero knowledge proof such as confirming your age without revealing a birth date EAST BRUNSWICK, N.J.–(BUSINESS WIRE)–#Blockchain—1Kosmos, the only company that unifies identity proofing and passwordless authentication, today announced that it will demonstrate reusable verified credentials, a unique capability enabling banks, brokerage firms, and insurance companies to perform tamper evident and trustworthy digital verification for zero knowledge proof use cases, on September 11 at FinovateFall in New York City. WHO: Sheetal Elangovan, Product Manager, for 1Kosmos is responsible for the admin experience on the BlockID platform and product design lead for the company’s products. Jens Hinrichsen, SVP, North American Sales for 1Kosmos has held senior sales and marketing roles at NuData Security and Versafe (now F5). WHAT: Financial institutions globally grapple with detecting fraudulent physical and digital identity credentials. At FinovateFall, 1Kosmos will showcase reusable verified credentials, a unique capability enabling banks, brokerage firms, and insurance companies to perform tamper evident and trustworthy digital identity verification. These credentials are machine verified and then accessed via an identity-backed digital wallet controlled by the user for use in applications such as zero knowledge proof of age that does not require exposing a birth date. Reusable verified digital credentials are pivotal for Web 3.0, and will disrupt financial services by facilitating high trust interactions with customers and sensitive on-the-go activities without manual reviews common for physical ID checks. WHERE: The Marriott Marquis Times Square, New York WHEN: Monday, September 11 at 5:28pm HOW: To schedule a conversation with 1Kosmos, contact Marc Gendron at [email protected] or +1 617.877.7480. About 1Kosmos 1Kosmos enables passwordless access for workers, customers and residents to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST 800-63-3 via Kantara, FIDO2 and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn. Contacts Marc Gendron Marc Gendron PR for 1Kosmos 617.877.7480 [email protected]

New Model Ranks #1 on Hugging Face Leaderboard for Open Access LLMs Model with 180 Billion Parameters is Trained on 3.5 Trillion Tokens, with 4 times the Compute Resources of Meta’s LLaMA 2 Falcon 180B is Open Access for Researchers and Commercial Users ABU DHABI, United Arab of Emirates–(BUSINESS WIRE)–The Technology Innovation Institute (TII) in the United Arab Emirates (UAE) is pushing the boundaries of generative AI once again with the launch of Falcon 180B, an advanced iteration of its flagship large language model (LLM). This groundbreaking release strengthens the UAE’s dominance in AI, offering Falcon 180B as an open access model for research and commercial purposes. Following the remarkable success of Falcon 40B, an open source AI model that swiftly ascended to the top of the Hugging Face Leaderboard for LLMs in May 2023, TII, the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC) continues to lead the charge in generative AI. Falcon 40B marked one of the first instances of open source models for both researchers and commercial users, and it was considered a pioneering leap in the field. H.E. Faisal Al Bannai, Secretary General of the Advanced Technology Research Council, emphasized the positive impact of Falcon on the AI landscape and said: “We envision a future where the transformative power of AI is within everyone’s reach. We are committed to democratizing access to advanced AI, as our privacy and the potential impact of AI on humanity should not be controlled by a select few. While we may not have all the answers, our resolve remains unwavering: to collaborate and contribute to the open source community, ensuring that the benefits of AI are shared by all.” With a staggering 180 billion parameters and trained on 3.5 trillion tokens, Falcon 180B soars to the top of the Hugging Face Leaderboard for pretrained LLMs. It outperforms notable competitors like Meta’s LLaMA 2 in various benchmarks, including reasoning, coding, proficiency, and knowledge tests. Among the best closed source LLMs, Falcon 180B ranks just behind OpenAI’s latest GPT 4 and is on par with the performance of Google’s PaLM 2 Large, the model powering Bard – despite being half the size of the model. The licensing framework for the model is established on ‘Falcon 180B TII License’, which is based upon Apache 2.0. Dr. Ebtesam Almazrouei, Executive Director and Acting Chief Researcher of the AI Cross-Center Unit at TII, said: “The launch of Falcon 180B exemplifies our dedication to advancing the frontiers of AI, and we are thrilled to share its limitless potential with the world. Falcon 180B heralds a new era of generative AI, where the potential of scientific advancement is made available through open access to fuel the innovations of tomorrow. As we delve into frontiers of science and technology, our vision extends far beyond innovation; it’s about nurturing a profound connection to address global challenges through collaborative breakthroughs.” With over 12 million developers adopting and deploying the first release of Falcon, this significant upgrade is poised to become the premier model for various domains, from chatbots to code generation, and beyond. Falcon 180B is compatible with the following major languages: English, German, Spanish, and French, with limited capabilities in Italian, Portuguese, Polish, Dutch, Romanian, Czech, and Swedish. For more information, please visit FalconLLM.tii.ae Source: AETOSWire Contacts Jennifer Dewan, Senior Director of Communications [email protected].

HAMILTON, Bermuda–(BUSINESS WIRE)–The fifth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), will kick off with a keynote conversation between The Hon. E. David Burt, JP, MP, Premier of Bermuda, and Sandra Ro, CEO, Global Blockchain Business Council. 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. David Hart, BDA CEO, said, “We are so excited that Premier Burt and Sandra Ro are kicking off our fifth annual Bermuda Tech Summit. Due to the legal and regulatory certainty we provide, Bermuda continues to attract some of the world’s most notable tech companies to our shores, increasing direct investment and creating exciting new career paths for Bermudians.” The keynote conversation will be followed by panel entitled ‘Bermuda Monetary Authority: Navigating Tomorrow’s Regulatory Horizons,’ moderated by Stuart Lacey, Independent Director, BDA, featuring panelists George Alayon, Deputy Director, Supervision (Insurance), BMA; Eric Donkoh, Head of Data Science and Artificial Intelligence, BMA; and Christos Efthymiopoulos, Assistant Director, Supervision (Digital Assets), BMA. The BMA panel will be followed by ‘Setting the Standard – Bermuda’s Journey to Becoming Climate Tech Central,’ moderated by Stan Stalnaker, Founding Director and Chief Strategy Officer, Hub Culture, featuring Natraj Nukala, Head of Climate, Kshema; Kevin Richards, Managing Director, Bermuda Asset Management; Hugo Rodriguez Bautista, Global Product Risk Manager, Bloomberg; and Darren Wolfberg, Co-Founder, Blockchain Triangle. 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. Other 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 promotion of all these burgeoning industries 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 and Wrap Party Tuesday night sponsored by RELM. Click here to see the full agenda and event description. Click here to register. Delegates travelling from overseas are strongly encouraged to book their hotel rooms with our special rates through to September 8. From September 9, hotel room rates will increase significantly, or may be completely sold out, due to limited availability. “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 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

PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs. Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world’s largest cryptocurrency exchange by trading volumes and client count. PERP Ripping Higher After Dumping In Q2 2023 According to Lookonchain, a blockchain analytic platform, the wallet associated with the foundation has been regularly moving tokens to Binance in the past few months, starting from March. At that time, PERP was trading at a relatively higher price, at around $1, looking at trackers like CoinMarketCap. Since then, however, the token has been on a downtrend. To illustrate, after peaking at about $1.22 in early March, PERP tanked by over 65% to $0.38 in June. A marginal increase from July before prices contracted to around $0.40 in August, bouncing to spot rates in the past few trading sessions. Looking at the PERP/USDT candlestick arrangement in the daily chart, buyers have the upper hand after a clear double bottom was printed following gains in early September. Whether the uptrend will continue and PERP has effectively bottomed after a rough few months is yet to be seen. What’s clear is that buyers appear to be in control, and PERP is trading at April 2023 levels, peeling back losses of the past four months. Perpetual Protocol TVL Remains Depressed, Will The Foundation Sell? Perpetual Protocol is a popular decentralized finance (DeFi) protocol allowing users to trade crypto perpetual futures with leverage trustlessly. Perpetuals are complex derivatives products with no expiry dates. Perpetual Protocol also supports concentrated liquidity, a feature first introduced in Uniswap v3. Moreover, it allows leverage of up to 10X. Through this exchange, DeFi users have an alternative to Binance or Coinbase, both centralized options. By September 6, the exchange’s total value locked (TVL) was steady at around $12 million, down from $18 million in late July 2023. Of note, PERP is rallying without any sharp increment in TVL, as DefiLlama data shows. Typically, outflow from a non-custodial wallet to a centralized exchange is interpreted as bearish in crypto circles. So far, trackers reveal that the Perpetual Protocol Foundation has 7 million PERP in Binance worth over $4.62 million. It is also not clear whether they plan to sell.

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio is nearing a retest that could be crucial for the asset. Bitcoin MVRV Ratio Is Nearing In On The 1.2 Level As an analyst in a CryptoQuant Quicktake post explained, the 1.2 level of the MVRV ratio has historically been a support line for the cryptocurrency. The “MVRV ratio” is an indicator that measures the ratio between the Bitcoin market cap and the realized cap. The “realized cap” here refers to a capitalization model for BTC that assumes the real value of each coin in circulation isn’t the current spot price but rather the price at which the coin was last bought/transacted on the blockchain. As the realized cap considers the cost basis or acquisition price of each investor in the market, the model essentially represents the total capital that the holders have put into the asset. Thus, comparing the market cap against the realized cap in the MVRV ratio can provide hints about whether the investors are holding more or less value than they put in. When the ratio’s value is greater than 1, it means that the market as a whole is sitting on some profits right now. Generally, the higher the MVRV goes above this mark, the more probable corrections become for the asset as investors look to harvest their gains. On the contrary, the indicator below this mark can signal that BTC may be underpriced right now, as the average holder in the sector carries coins at a loss. Now, here is a chart that shows the trend in the Bitcoin MVRV ratio over the last few years: As is visible in the above graph, the Bitcoin MVRV ratio has been above the 1 mark during the past few months. The metric broke above this line in January when the rally started. Besides a retest in March, the indicator has remained above this level since then, implying that the holders have enjoyed profits. The 1 level has been important historically for the asset. Still, the quant notes that another value is notable: 1.2. This line has supported the asset a few times in the past, as the analyst has highlighted in the chart (the yellow boxes). Most recently, Bitcoin found support at this level in June, where the cryptocurrency could propel itself back up with a sharp rally. The metric is heading down and again approaching a retest of this line, as its current value is 1.27. Naturally, a successful retest could be positive news for Bitcoin, but a failure might lead to an extended drawdown for the asset’s price. BTC Price As the chart below shows, Bitcoin has continued to consolidate recently, with the asset’s price still trading around the $25,700 level.

Zug, Switzerland, September 6th, 2023, Chainwire The Open Network Foundation (TON Foundation), the non-profit association supporting the growth of The Open Network (TON), announces its official launch as a Swiss non-profit organization. Switzerland is known for its rich history of technological innovations across multiple industries, including its clear and precise legal framework surrounding blockchain and cryptocurrency. The country’s regulatory clarity is vital to the long-term planning, strategy, and execution of TON Foundation’s mission in supporting the TON ecosystem. The launch of TON Foundation’s Swiss organization coincides with a series of upcoming initiatives, including a carefully planned series of enterprise partnerships and integrations to incentivize developer acquisition, user participation, and network growth. By Q4 of 2023, a publicly available roadmap on the newly launched www.ton.foundation website will guide the Foundation’s endeavors to educate the public, empower development, and exercise ecosystem expansion on TON. With the launch, the Foundation commits to providing detailed transparency reports that comprehensively outline the tokenomics of Toncoin and the historical distribution of tokens. These reports will offer insights into token issuance, partnership allocation, development, community incentives, and the breakdown of assets used for operational expenses and ecosystem growth. As part of its ongoing commitment to openness and clarity, TON Foundation will host an annual event entitled Gateway to proactively listen to and engage with the TON community directly. We invite our community and partners to join us in person at Gateway to engage in productive discussions and collaborative initiatives across privacy, ownership, finance, gaming, collectibles, and tons more. About TON Foundation The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland committed to supporting The Open Network (TON). TON Foundation is 100% funded by the community and acts for the community to achieve TON’s mission. For more information visit TON Foundation’s: Official Website | Linkedin | Twitter | Telegram About The Open Network (TON) The Open Network (TON) is putting crypto in every pocket. By building a Web3 ecosystem in Telegram Messenger, TON allows billions to own their digital identity, data, and assets. See more at https://ton.org/ Contact TON Foundation [email protected]

Story Protocol is building the infrastructure layer to power a new era of open and collaborative IP. The project launches with filmmaker David S. Goyer as an advisor. SAN FRANCISCO–(BUSINESS WIRE)–Insert after eighth paragraph of release: “As a co-lead investor in Story Protocol’s earliest funding round, I was highly impressed by the caliber of the leadership team and their ability to execute at the intersection of mainstream IPs and web3,” said Simon Kim, CEO and Managing Partner at Hashed. “Just as Git revolutionized software development, Story Protocol is transforming the development of creative IP and enabling contribution at scale with clear ownership attribution.” The updated release reads: STORY PROTOCOL LAUNCHES WITH OVER $54M IN FUNDING LED BY ANDREESSEN HOROWITZ Story Protocol is building the infrastructure layer to power a new era of open and collaborative IP. The project launches with filmmaker David S. Goyer as an advisor. Story Protocol, an open infrastructure designed to power a new era of creativity and intellectual property (IP) ownership, has raised over $54 million in funding led by a16z crypto. Story Protocol is creating a new IP protocol optimized for the internet era. The project aims to democratize IP creation through a global and extensible IP repository. Story Protocol provides a streamlined framework to manage the entire lifecycle of IP development, enabling features like provenance tracking, frictionless licensing and revenue sharing. Made for creators across all media – prose, images, gaming, audio and more – applications built on Story Protocol give writers and artists the ability to track their work’s provenance, allowing anyone to contribute and remix while capturing the value of their contributions. “In a world of total abundance catalyzed by generative AI, blockchain technology presents the perfect solution for transparent provenance tracking and fair attribution,” said SY (Seung Yoon) Lee, Co-Founder of Story Protocol. “Story Protocol will usher in a new era of entrepreneurial creators and provide existing IP holders an entirely new way to engage audiences and advance their IP.” The project aims to attract a rich ecosystem of third-party developers providing services encompassing crowdfunding, capital formation, IP discovery, licensing modules, authentication for AI content, and community growth. Story Protocol presents an open and modular architecture that any application can plug into and its decentralized nature removes platform risk for ecosystem builders. “Web3 has the promise to help solve some of the longest-standing problems in the media and entertainment industries,” said Sriram Krishnan, General Partner at a16z crypto. “We believe that Story Protocol has the opportunity to revolutionize the future of IP for artists, fans, and developers by empowering creativity at the speed of the internet.” Funding includes participation from Hashed, Endeavor, Samsung Next, dao5, Insignia Venture Partners, David Bonderman (Founder & Chairman of TPG Capital), Si-hyuk Bang (Founder & Chairman of HYBE/BTS), Paris Hilton’s 11:11 Media, CH Kim (CEO of Krafton/PUBG), Kyung In Jung (CEO of Black Label), Wattpad Co-founder Allen and Eva Lau’s Two Small Fish Ventures, Alliance DAO, Foresight Ventures, Mirana Ventures, Balaji Srinivasan, Nicolas Berggruen, Charlie Songhurst, David Lee (SLVC), Sanghun Kim (Former CEO of Naver), Chang Kim (Founder of Tapas) and Roham Gharegozlou (Founder & CEO of Dapper Labs), among others. “Artists and fans are integral to any successful IP franchise, and Story Protocol will power platforms that allow them to participate in the creative process,” said Ben Enowitz, SVP, Corporate Development & Talent Ventures at Endeavor. “Technology cannot replace authentic, human creativity – but it can bring communities together to unlock the full potential of existing and new IP. We’re excited to support Story Protocol in expanding the ways IP is created and shared with the world.” In addition to the fundraising, Story Protocol welcomes David Goyer as an advisor. Goyer is a filmmaker and novelist best known as the screenwriter for the “Blade” trilogy (1998-2004) and “The Dark Knight” trilogy (2005-2012) and as the showrunner for the television series “Foundation” (2021) among others. He also has a proven track record of exploring new storytelling mediums such as gaming via Call of Duty and VR with Vader Immortal: A Star Wars VR Series. “As a co-lead investor in Story Protocol’s earliest funding round, I was highly impressed by the caliber of the leadership team and their ability to execute at the intersection of mainstream IPs and web3,” said Simon Kim, CEO and Managing Partner at Hashed. “Just as Git revolutionized software development, Story Protocol is transforming the development of creative IP and enabling contribution at scale with clear ownership attribution.” “I envision a future where creators will wield greater control over their IPs, extend their influence on a global scale, and cultivate direct connections with their community,” said David S. Goyer, filmmaker and advisor to Story Protocol. “Story Protocol marks a new era for the entertainment industry and the start of a new ownership model for creators and fans.” Story Protocol’s founding leadership team features a powerful mix of a serial entrepreneur and seasoned operators with diverse backgrounds in entertainment, web3, and artificial intelligence (AI). Co-founder Seung Yoon (S.Y.) Lee previously founded the mobile serial fiction platform Radish. Co-founder Jason Levy led content at Episode, a breakthrough storytelling ecosystem. Co-founder Jason Zhao served as a product lead at Google’s Deepmind, translating cutting-edge AI research into customer-facing applications. Weilei Yu led growth for Flow blockchain at Dapper Labs, helping bootstrap a multi-billion dollar ecosystem from inception and onboarding thousands of developers. Leo Chen was the founding VP of Engineering at Harmony Protocol and previously served as Tech Lead at Amazon and built the first hardware-assisted storage virtualization engine. Ben Sternberg most recently served as CFO of Radish Media and previously co-founded and exited Fexy Media to IAC. Susan Park served as a design lead at Google where she spearheaded Google’s first web3 patent filings and is a leading art education influencer as @thatsprettyneat on Tiktok and Instagram. For more information about Story Protocol visit: https://www.storyprotocol.xyz/ To access the media kit, please click here. About Story Protocol Story Protocol was founded by a team of serial entrepreneurs and experienced operators with a diverse background in consumer tech, generative AI (Deepmind), and Web3 infrastructure (Flow and Harmony). Backed by top investors like a16z crypto, Endeavor, Samsung Next, and Hashed, Story Protocol is building the infrastructure layer to power a new era of open and collaborative IP. Story Protocol’s mission is to grow the creativity of the internet era. Contacts Press Inquiries: [email protected]

Ethereum Whales poured in around $425 million to purchase 260,000 ETH. ETH’s market cap has fallen below $200B as a result of price declines over the last week. Ethereum price has declined over the last week as the market struggles with persistent macroeconomic uncertainties and prolonged delays in the approval of spot ETFs. According to on-chain data, whales are quite active during this severe market downturn. Ali Martinez, a prominent crypto researcher, recently shared that in only 24 hours, Ethereum Whales poured in $425 million to purchase 260,000 ETH. This occurs after significant ETH whale movement was reported a day earlier. On Monday, 300,000 ether were transferred between two “whale” addresses on Coinbase. Further Decline Likely? Despite Ethereum’s fall over the last week, the cryptocurrency has now been trading at around the $1630 mark. According to CMC statistics, ETH’s market cap has fallen below $200 billion as a result of price declines over the last week. The price of ETH declined all the way till $1612 yesterday. However, bulls were able to quickly outnumber bears offering a ray of optimism. There has been heavy selling pressure on ETH as of late, but $1600 is acting as a significant support level. Ethereum’s price has repeatedly bounced off of its support trendline over the last several weeks, rejecting efforts by sellers to bring about a deep fall. Source: CoinMarketCap ETH price has been consolidating in a tight range, fluctuating between $1600 and $1645. Many market watchers assessing Ethereum’s present scenario believe losses might escalate if the price falls below the $1600 levels. If the price manages to break the support level of $1600 then it will likely test the $1100 mark. On the other hand if it manages to clearly break above the $1643 mark then it will likely test the next resistance level at $1700.

Coinbase’s CEO discussed several topics that have the potential to change the digital asset market. Brain Armstrong shared his vision for the crypto future. Coinbase’s, the leading crypto exchange, co-founder Brain Armstrong recently shared ten promising idea proposals on August 30. Following that, Coinbase’s co-founder tweeted that he had received more than 150 project applications for the ten promising ideas. Moreover, he added an 11th start-up idea in the tweet. On September 6, the crypto exchange’s co-founder revealed another start-up idea for the Web3 version of LinkedIn. It verifies employment or credentials through company-issued soul-bound NFTs. Moreover, Brain Armstrong mentioned that he received around 150 project applications following the ten promising ideas. Coinbase CEO Shared His Vision for the Crypto Future The CEO of the crypto exchange, Brain Armstrong, shared his vision for the crypto future on August 30. In this vision, he discussed several topics that have the potential to change the digital asset market. He highlighted ten promising ideas and proposals, emphasizing the significance of a healthy ecosystem outside of Coinbase’s offerings. Armstrong mentioned that the new proposal will help prevent fraud and provide a secure and reliable way for users to share their work experience and qualifications. This innovation also has the potential to replace the existing resume verification process with a transparent method. Coinbase’s co-founder sees this project as a multiple-component solution, including a user-friendly interface for searching employee and employer information. He also hints at a solution that allows users to mint their NFTs if they verify their association with the companies in .com, mail, and other strategies. Armstrong shared the Web3 LinkedIn project idea after he expressed his vision for the marketplace for crypto jobs. According to him, it will enable individuals to locate crypto-related jobs around the world and also allow jobs to be paid in crypto.

The First Digital USD (FDUSD) stablecoin has recorded a significant rise in its market cap following an announcement by the Binance exchange in August. FDUSD, a dollar-pegged stablecoin, was recently launched on June 1, 2023, debuting on the Ethereum network and the BNB Smart Chain. The token was officially listed for specific trading pairs on the crypto exchange in July. Binance’s Directive Drives Adoption Of FDUSD On August 31, Binance confirmed reports of intention to halt support for Binance USD (BUSD) stablecoin following the regulatory embargo on the token’s issuance. Back in March, The New York Department of Financial Services (NYDFS) had ordered Paxos Trust, the issuing company of BUSD, to cease minting the stablecoin. Since then, BUSD’s market supply has taken a nosedive, crashing by over 80% in the last eight months. According to an official post, the exchange will begin the gradual termination of all BUSD products on its platform, urging its 150 million customers to swap their BUSD tokens for other assets before February 2024. In particular, the crypto exchange encouraged users to convert their BUSD to FDUSD, touting incentives such as zero trading fees and a 1:1 direct swap ratio. According to data from CoinMarketCap, FDUSD’s market cap value has grown by 21.49% from August 31, rising from $324.75 million to its current value of $394.68 million. This indicates that Binance’s promotion of FDUSD as a BUSD alternative is paying dividends, resulting in a rapid rise in the former’s adoption over the last few days. For context, the market cap metric represents the total value of a cryptocurrency based on its market price and the number of circulating tokens. Since FDUSD is a stablecoin with a fixed value of $1, CoinMarketCap’s data means that over 70 million FDUSD tokens entered circulation over the past week. In addition, according to the DeFi analytics platform, DeFiLlama, FDUSD now ranks as the ninth largest stablecoin in the crypto market ahead of other popular assets such as Gemini USD (GUSD). Binance Announces New FDUSD Trading Pairs In other news, Binance unveiled three new FDUSD trading pairs on September 6, maintaining its stablecoin support. These trading pairs are DOGE/FDUSD, SOL/FDUSD, and XRP/FDUSD, which will become available for trading on September 7 at exactly 08:00 UTC. This move comes a week after Binance announced the “gradual” discontinuation of its support for the BUSD token while directing users to convert their BUSD token to other assets. The exchange has begun discontinuing by delisting eight BUSD isolated and cross-margin pairs. Following these announcements, the BUSD market fall continues, with the token’s market share now valued at an all-time low of $2.73 billion. More data from DeFiLlama shows that the BUSD market cap is down by 4.16% and 12.23% in the last one and seven days, respectively. Nevertheless, BUSD remains an important item in the market, ranking as the fifth largest stablecoin in the crypto space.

Base has said that it would keep an eye out for any additional problems in the chain. Nonetheless, there were still mainnet RPC bugs that needed fixing. Since its public release on August 9, Ethereum layer-2 network Base by Coinbase has experienced its first significant outage. No new blocks were created on the Base chain for around 45 minutes on September 5. The “stalled” block production was initially noticed by its developers at 9:36 pm UTC. However, production of blocks has started back up again. It found the problem within around 20 minutes and began implementing a repair. At 22:09 UTC, the team announced that the problem had been resolved. Not Battle Tested Base has said that it would keep an eye out for any additional problems in the chain. Collective Shift’s director of research Matt Willemsen raised some valid worries about utilizing Ethereum layer 2 networks and cautioned that they haven’t been as “battle tested” as Ethereum’s mainnet. Nonetheless, there were still mainnet RPC bugs that needed fixing. Approximately one and a half hours after the outage began, at 23:06 UTC, the team said, “We have verified recovery of network health and RPC APIs.” The crew finally reported the situation some hours later, placing blame on internal infrastructure. It went on to say that the problem had been found and fixed, so that no funds were in jeopardy. Since the launch of Base Mainnet in mid-July, this is the first significant disruption to occur. Base, like Solana, was marketed as an alternative to Ethereum. Despite this slight setback, Base’s expansion since its introduction has been remarkable. Highlighted Crypto News Today: Bitcoin Bears Regain Control, What’s Next?

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On-chain data shows the divergence between the Bitcoin long-term holders and short-term holders has grown to record levels recently. Bitcoin Market Has Been Continuing Its Shift Towards HODLing As an analyst in a post on X explained, the gap between the speculators and HODLers in the market has only grown wider recently. The “short-term holders” (STHs) and the “long-term holders” (LTHs) are the two primary cohorts that the entire Bitcoin market can be divided into. The STHs refer to all those investors who purchased their coins less than 155 days ago, while the LTHs include the holders who have been holding onto their tokens beyond that period. Statistically, the longer an investor keeps their coins dormant, the less likely they become to sell them at any point. Due to this reason, the STHs are usually the group with the weaker conviction of the two. The LTHs often hold through volatile periods in the asset without moving an inch, which has earned them the popular name “diamond hands.” The STHs, on the other hand, tend to sell quickly whenever FUD emerges in the sector, or a profitable selling opportunity appears. Now, here is a chart that shows the trend in the supplies of these BTC investor groups throughout the history of the cryptocurrency: The graph shows that the Bitcoin LTH supply has been on an uptrend during the past couple of years, while the STH supply has been going down recently. This would suggest that the overall supply of the cryptocurrency is continuously becoming more dormant. The gap between these groups is the widest it has ever been, as the LTH supply is nearing the 15 million BTC mark, while the STH supply has dropped under the 2.5 million BTC level. The latter’s latest value is the lowest it has ever been since 2011 when the asset was still in its infancy. It would appear that short-term speculators in the market have thinned to record lows. Last month, Bitcoin witnessed a sharp crash from above the $29,000 level to below the $26,000 mark, and the asset has not recovered. As is apparent from the chart, though, the LTHs haven’t cared about the asset’s struggle at all, as their supply has only continued to head up while the STHs have shrunken down further. The LTH group remaining strong and continuing its growth may not affect the market in the short-term, but during longer periods, the supply continuing to become locked in the wallets of these HODLers could have a bullish impact due to how supply-demand dynamics work. BTC Price At the time of writing, Bitcoin is floating around the $25,700 mark, registering a dip of 6% over the past week.

Anoma Foundation, a non-profit organization focused on blockchain technology, today unveiled its intentions for the Namada mainnet. Awa Sun Yin, a co-founder of Namada, made the announcement at Korea Blockchain Week in Seoul. With an emphasis on asset-agnostic privacy across several blockchains, Namada functions as a Layer-1 blockchain protocol. Namada’s innovative use of zero-knowledge cryptography, which enables a singular shielded set that can accept any fungible or non-fungible assets from the Ethereum or Cosmos chains, preserves the integrity of multichain transactions. This is one of the platform’s primary differentiators. Namada takes an unconventional strategy that surpasses restrictions by offering composable privacy. With the help of this functionality, existing assets, decentralized apps, and even whole blockchain networks may be seamlessly retrofitted with privacy features without having to change their fundamental architecture. Namada provides guarantee that user privacy remains unharmed even when users interact with transparent chains or decentralized apps that lack inherent privacy protections. “Shielded actions,” a cutting-edge technology that permits private communications across a variety of platforms and apps, achieves this high degree of privacy integration. Anoma and Namada’s blockchain research and development company Heliax has made significant strides, including organizing the biggest trusted setup ceremony ever with a staggering 2510 participants as of December 2022. More than 200 institutional and independent validators have taken notice of and participated in Namada’s successful navigation of challenging public testnets. In the near future, further details on Namada’s formal launch, mainnet roadmap, token economics, and genesis proposal will be made public.

Solana Newtwork users had dropped to a two-year low. SOL experienced an increase of over 3% in the last 24 hours. Solana (SOL), one of the top 10 cryptocurrencies in the world by market cap, has shown a significant surge in the last 24 hours. The unexpected increase from Solana caught the attention of the cryptocurrency community, even though the entire market is in severe decline. At the same time, the number of active addresses on the Solana network reached a two-year low recently. On September 6, the founder of Wealth Mastery, a crypto newsletter, Lark Davis, tweeted that Solana users have dropped to a two-year low. On the other hand, Solana has recently revealed the big news that Visa is expanding its USDC settlement pilot to the Solana Blockchain. Following the announcement, SOL experienced an increase of over 3% in the last 24 hours. Adding to that, Solana Pay recently partnered with Shopify to enable USDC payments via a plugin. While SOL is experiencing a remarkable surge in price, the active wallet address has shown a massive drop. However, the recent Visa expansion update is expected to bring users back to the Solana Network again. Solana Climbs to the Top Gainer List Adding to that, with this sudden surge, Solana climbed to the second position on the top gainers list on September 6. Notably, among the top 100 cryptocurrencies, SOL has been the top gainer in the last 24 hours. The top cryptocurrencies, including Bitcoin and Ethereum, have experienced bearish momentum over the past few weeks. The remarkable surge from Solana is expected to boost investor’s confidence. At the time of writing, Solana has been trading at $19.82, with an increase of over 2.84% in the last 24 hours. The daily trading volume of SOL has experienced a massive surge of 81.04%, according to CoinMarketCap. Moreover, SOL’s price is inching closer towards the $20 mark. With bullish momentum, Solana is expected to cross the $20 mark soon. Do you think SOL will continue its bullish momentum to breach the $20 mark? Tweet to us at @The_NewsCrypto and let us know your thoughts.

Weekly on-chain transactions have increased by more than 1,700% since January. Cardano had a 1.6 million rise in transaction volume in August. Cardano (ADA) is pushing things to the next level with the introduction of Hydra, which has been praised for its emphasis on scalability and sustainability. The newest Hydra release is supposed to increase Cardano’s transaction throughput to millions per second. Cardano’s improved scalability will make it more appealing to developers of decentralized applications. It will strengthen the safety of the Cardano network while decreasing transaction fees. Significant Growth Recorded Cardano (ADA) is also witnessing a huge increase in network activity, according to data from blockchain analytics company Santiment. Weekly on-chain transactions have increased by more than 1,700% since January, suggesting Cardano is positioning itself for an upward surge. Moreover, Cardano had a 1.6 million rise in transaction volume in August, compared to the previous month. This increase coincides with the release of two new projects. Bringing the total number of projects on the platform to 138, with another 12 in the development stage. Recent changes include an increase from 750 to 850 token policies and the minting of 140,000 new native tokens on the Cardano platform. Although network activity of Cardano has shown significant growth, ADA price has been facing a severe downtrend and the price now stands at $0.2558. Source: CoinMarketCap The price of ADA has been trading with a negative bias for the last two months, wiping out all of the gains made during the July 13 rise. Moreover, the price is down 14% in the last 30 days as per data from CMC. Partially due to the SEC’s classification of ADA as a security and the general market sentiment, the cryptocurrency is facing bear dominance.