The Ripple community is currently at the edge of their seats after the company’s founder and CEO made announcements to officially host a party to commemorate the cryptocurrency’s triumph against the US SEC. Hosting A Grand Celebratory Bash Ripple, a leading global payments network, declared openly on Monday, August 28, its intentions to throw a dedicatory party to honor its win over the United States Securities and Exchange Commission (SEC). Ripple’s win against the US SEC is not only a positive result for the cryptocurrency, but a significant milestone for the cryptocurrency industry in regards to regulatory clarity and transparency. It’s understandable the relief the Ripple community feels after going through many hurdles that came with the SEC lawsuit, not just in monetary losses, but in its reputation and position as a cryptocurrency with as much potential as Bitcoin. Ripple has disclosed some information about the celebratory party on X (formerly known as Twitter). The cryptocurrency firm stated that the party will be hosted in New York City on Friday, September 29, emphasizing to the general public to “save the date” and look forward to a great celebration. “We’re hosting a community celebration on September 29 in New York City! Stay tuned for more details to come later this week,” Ripple tweeted. The CEO of Ripple, Brad Garlinghouse also took to X, enthusiastically informing the public of the date of the party and how he looks forward to properly commemorating the cryptocurrency’s victory against the US SEC. “As promised – it’s time for that proper victory party,” Garlinghouse said. “The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC!” The Spin-Off From Ripple And SEC Lawsuit Ripple and the US SEC have been embroiled in a lawsuit for years. The SEC first filed a lawsuit against Ripple in 2020, alleging that the cryptocurrency firm was selling unregistered securities in its native token, XRP. Instead of accepting the SEC’s demands and paying the liabilities, Ripple responded to the allegations by engaging in a legal battle that has been ongoing for about three years. During those years, Ripple has lost hundreds of millions of dollars in its effort to defend against the SEC’s allegations. Its native cryptocurrency was delisted from several exchanges including Bitstamp. The token also suffered from massive liquidations in the XRP futures contract. It was only this year that things started turning around for the cryptocurrency after Judge Analisa Torres ruled in favor of Ripple and declared that programmatic XRP sales should not be labeled a security. XRP sales jumped following Ripple’s partial win against the SEC. The cryptocurrency firm also inked a new partnership with Mastercard and is poised to be listed on Gemini. Even though the SEC is not too happy with Ripple’s win over the case and has submitted an interlocutory appeal against the cryptocurrency firm, XRP’s price remains somewhat stable. The crypto firm has also remained strong and enjoyed the support of notable cryptocurrency enthusiasts including Pantera CEO, Dan Morehead who labeled Ripple’s victory as a “positive black swan.”

The ruling paves the path for the Grayscale spot Bitcoin ETF to be approved. The BTC price has jumped 5% and is now trading at $27,404 mark. Grayscale prevailed against the U.S SEC in a historic ruling over the conversion of the Grayscale Bitcoin Trust to a spot Bitcoin ETF in a lawsuit. The Grayscale legal win might be a crucial step toward getting the first ever spot Bitcoin ETF authorized in the United States, especially in light of multiple spot ETF flings by financial giants. Historic Judgment The ruling paves the path for the Grayscale spot Bitcoin ETF to be approved. The verdict has certainly built a clear road to the approval of spot ETFs in a precise schedule, but this does not always suggest that approval is close or guaranteed. Also, what happens next depends on whether or not the US SEC decides to challenge the Court’s ruling. In its ruling, the court said: Meanwhile, as a result of the ruling in the case, the price of Bitcoin surged. The BTC price has jumped 5% and is now trading at $27,404 mark. Moreover, the overall crypto market responded positively with almost all major cryptos trading in green. The main point of Grayscale’s defense was that the US SEC lacked justification for rejecting the spot ETF after approving the related futures ETF.

MATIC, the native token of the Polygon network, has experienced both sides of the crypto market volatility in the last day, with a temporary boost followed by a steady price decline. Over the past 24 hours, the prominent altcoin has had its price bounce between $0.55 and $0.56, forming a major consolidation zone. As many MATIC investors speculate on the token’s next movement, popular crypto analyst Ali Martinez has given an interesting prediction that implies an impending market loss. MATIC In Danger Of 27% Price Decline Via an X Post on Monday, Ali Martinez alerted the crypto space that the MATIC token was in a critical price zone, which could result in heavy investor losses. Related Reading: MATIC Social Sentiment Slides To Negative Territory – What’s The Impact On Price? Over the last seven days, MATIC has recorded both negative and positive movements, often finding support at the $0.53-$0.54 price zone. Interestingly, Martinez predicts that if the Polygon native token lost this support level, it would likely fall as low as $0.40, representing a potential 27% decline from MATIC’s current price. The analyst further emphasizes the importance of this support level, stating it is “guarded” by 3,770 wallet addresses that collectively own 70.19 million MATIC tokens. Looking at MATIC’s daily chart, investors may have real cause to pay attention to Martinez’s prediction as the token’s price movement forms a descending channel. Based on this pattern, MATIC could likely record little gains in the coming days, but its long-term outlook indicates the continuation of its current bearish trend. However, investors are reminded that all price predictions are speculative with no guarantees. MATIC Daily Active Address On the Rise On a more positive note for MATIC, the Polygon network has experienced a significant rise in its daily active addresses over the last few days based on data from market intelligence firm Santiment. Following a steady decline in mid-August that saw this metric fall to around 182,000 on August 20, there has been a notable recovery, with the daily active address count reaching about 264,000 on Monday, August 28. This indicates an increased interest in Polygon despite MATIC’s little price movement in the last week. Related Reading: Polygon (MATIC) At June Lows Again – Prospects For Bullish Recovery? In other news, Polygon co-founder Sandeep Naiwal has posted an update on Polygon 2.0 detailing the benefits of MATIC’s proposed upgrade, the POL token. According to data from CoinMarketCap, MATIC is currently trading at $0.55 with a 0.05% loss in the last day. However, the token’s daily trading volume is on the green side, rising by 0.52% to be valued at $248.56 million. With a market cap of $5.16 billion, MATIC is ranked as the 14th largest cryptocurrency.

In a significant turn of events for Bitcoin (BTC) and the overall market, cryptocurrency asset manager Grayscale has emerged victorious in its legal battle against the U.S. Securities and Exchange Commission (SEC). The U.S. District of Columbia Court of Appeals has ruled in favor of Grayscale, overturning the SEC’s lawsuit and potentially bringing the company one step closer to achieving Bitcoin Spot exchange-traded fund (ETF) status. Bitcoin Surges As Grayscale’s Legal Victory Boosts Market Sentiment The recent ruling by the U.S. District of Columbia Court of Appeals has dealt a significant blow to the SEC’s efforts to impede Grayscale’s progress in establishing a Bitcoin spot ETF. While this decision does not automatically convert Grayscale’s flagship product, the Grayscale Bitcoin Trust (GBTC), into a Spot ETF, it undoubtedly marks a crucial milestone toward achieving that goal. James Seyffart, Bloomberg’s renowned ETF expert, emphasizes that this legal triumph for Grayscale brings the company closer to attaining ETF status for Bitcoin. The court’s decision to vacate the SEC’s denial of GBTC’s conversion into an ETF opens doors for further discussions and advancements in the cryptocurrency market. As a result, Bitcoin has experienced a notable surge of over 4%, currently trading at $27,300, slightly above its 200-day Moving Average (MA). Initially, there were concerns that the MA could hinder Bitcoin’s recovery from recent setbacks. However, in light of the recent developments regarding Grayscale’s legal victory, BTC effortlessly surpassed the $27,000 mark and briefly reached $27,500. To sustain its recovery, Bitcoin must maintain the $27,000 level and avoid falling below the moving average once again. Establishing the MA as a new support level would safeguard against short-term price declines. Furthermore, it would position the cryptocurrency favorably for another attempt to overcome the resistance at $28,000, should it fail to breach this barrier in its initial efforts. This triumph for Grayscale against the U.S. regulatory bodies represents a significant victory for the entire cryptocurrency market, which has been grappling with an ongoing crackdown by regulatory authorities. The outcome of this legal battle sets a positive precedent that could reignite confidence in the market and reverse the recent trend of liquidity outflows.

Bulls and bears collide as Avalanche price breaches crucial $10 support. 99.5% of AVAX holders find themselves in a loss : IntoTheBlock. As another victim of the bearish crypto market, the smart contract blockchain, Avalanche (AVAX) has been grappling with bearish pressure for over a month. Over the past 30 days, AVAX’s price has plummeted by 21.52%. It hit an all-time low of over two years at $9.997 on August 28. However, the 3% surge in the past 24H has marked a recovery, with AVAX currently stabilizing at $10.45. Notably, the coin remains a substantial 93% away from its ATH. According to the latest insights from the crypto analytics platform IntoTheBlock, the alarming number of AVAX holders in profit has hit an all-time low. While similar levels were observed in June and December of 2022, followed by dual implosion of Terra’s UST and LUNA, and after FTX’s bankruptcy, yet this marks the first time that an overwhelming 99.5% of AVAX holders find themselves in a loss. In contrast to this downtrend, there has been a notable 25.75% increase in trading volume, reaching $128 million in 24H. Analyzing recent developments The token analytics dashboard has unveiled that Avalanche unlocked 9.54 million tokens on August 26, accounting for 2.77% of the total supply and valued at $103 million. This allocation includes 2.25 million AVAX tokens for strategic partners, 1.67 million for foundation, 4.5 million for team. And 1.13 million for airdrops. Moreover, Throughout the year, the AVAX ecosystem has undergone several significant developments. These include a collaboration with Alibaba Cloud, a subset of the prominent Chinese e-commerce conglomerate Alibaba, aimed at deploying metaverses on the layer 1 blockchain. Additionally, Avalanche joined forces with MasterCard, part of an effort to fortify the payment giant’s presence in the Web3 space. More recently, the Avalanche Foundation introduced the $50 million Avalanche Vista initiative, focused on investing in real-world asset (RWA) tokenization. Also, a brief depeg of the USDC stablecoin in the first quarter of 2023 triggered increased transactions. And user activity on Avalanche. However, these ecosystem advancements have yet to make a substantial impact on the coin’s price performance. Will The AVAX Bulls Stage a Comeback? A detailed analysis of Avalanche’s recent price movements reveals a consolidating pattern, with bears seemingly maintaining control. The daily Relative Strength Index (RSI) hovers around the cusp of oversold territory, registering a value of 33. AVAX Price Chart , Source : TradingView It’s possible that Avalanche’s price could continue consolidating in a flag formation, awaiting a potential crossover above the 9-day and 21-day moving averages. However, a closer look suggests that the AVAX price might dip towards the $9.5 support level before any upward movement. A weaker $10 support level could trigger a price breakdown. It will lead bears to target subsequent supports at $8, $7, and $6. Conversely, if a bullish momentum prevails, the price may rally towards resistance levels of $13, $14, and $15.

Genesis filed for Chapter 11 bankruptcy protection in January 2023. Gemini claims that Genesis owes them around $1 billion in client money. According to a court filing made on August 29th, the Digital Currency Group (DCG) and insolvent cryptocurrency lender Genesis have reached an in-principle agreement to settle the claims of the creditors. With a severe liquidity problem ensued with the demise of cryptocurrency exchange FTX. Genesis filed for Chapter 11 bankruptcy protection in January 2023. According to DCG, the parent company of Genesis, the insolvent cryptocurrency lender has $630 million in unsecured debts due in May 2023. It also owns an unsecured promissory note for $1.1 billion that is due in 2032. Relief for Creditors The DCG plans to enter into additional financing facilities and a repayment arrangement as per the terms of the in-principle contract reached. There will be a first-lien facility of $328.8M with a maturity of 2 years. There will also be a second-lien facility for $830M that has a maturity of 7 years. According to the statement, DCG intends to pay its creditors $275 million over the course of four instalments. According to the filing, if the proposal is implemented, unsecured creditors might get returns of between 70% and 90% in USD and between 65% and 90% in-kind, depending on the denomination of the digital asset. Since Genesis was the custodian for Gemini’s Earn Product, the crypto exchange took the worst hit when Genesis declared bankruptcy. Gemini claims that Genesis owes them around $1 billion in client money. Gemini sued Genesis parent company DCG after it refused to return the money. To counter this, DCG has filed a move to dismiss the action. Highlighted Crypto News Today: 2M Curve Tokens Withdrawn From Binance in 40 Minutes

Paypal’s Ethereum-based stablecoin PYUSD has failed to capture crypto investors’ interest. According to data from Nansen, 90% of the stablecoin’s total supply still remains with its issuer Paxos’ wallet. Paypal’s PYUSD Adoption Setback The payment giant Paypal’s recently launched stablecoin PYUSD continues to struggle with adoption and has failed to gain traction since its official launch on August 7, 2023. Despite PayPal having over 350 million users worldwide, on-chain data from Nansen has shown that only a small percentage of its user base is currently using and holding the PYUSD in self-custody wallets. “On the surface there’s a lack of demand from crypto users for PYUSD when other alternatives exist,” said Nansen in a report. However, it is believed that lack of enthusiasm might involve the stablecoin’s lack of utility and not being able to earn interest on the stablecoin, as highlighted by an X (formerly Twitter) user in a post on August 26, 2023. The stablecoin’s holdings on crypto exchange wallets are also low, accounting for just about 7% of the stablecoin’s total supply. This percentage takes into account the balances on centralized exchanges such as Kraken, Crypto.com, and Gate.io. Despite the high expectations in the crypto industry following the release of the stablecoin that it would actually promote wider adoption and introduce cryptocurrencies to the masses for the first time, the stablecoin has failed to live up to expectations and smart money investors seem perfectly comfortable to circumvent the stablecoin. The largest holder of the stablecoin holds less than $10,000 worth of PYUSD after the holder sold about 3 meme coins to purchase the stablecoin. Excluding contracts or exchanges, not more than 10 holders have a balance surpassing $1,000. According to Coinmarketcap, PYUSD has a total supply of 43 million PYUSD tokens and pools in decentralized exchanges like Uniswap’s PYUSD/USDC and PYUSD/wETH accounts to only 50,000 PYUSD tokens respectively. The PYUSD tokens have been criticized for being overly centralized, as the majority of its total supply turns out to be stored on centralized exchanges, resulting in difficulty in growing its circulation. Despite such a high total supply, the collective total number of the stablecoin’s holders according to Etherscan is merely 324 at the time of this writing. Expectations On Ethereum For The Stablecoin According to JP Morgan analyst Nikolaos Panigirtzoglou, following the first week of Paypal’s stablecoin launch, Ethereum enjoyed no benefit from PYUSD when looking at things such as increased network activity, increased Total Value Locked (TVL), and enhancing Ethereum’s network utility as a stablecoin/DeFi platform. Crypto experts and enthusiasts have also criticized PayPal for choosing Ethereum for its stablecoin due to the blockchain’s high transaction fees. Co-founder of Sei Network Jayendra Jog said, “The gas fees of using PYUSD will be ridiculous, which will disincentivize its usage.” He further added, “To help make the user experience better, PayPal will either need to subsidize transaction costs or will need to help support PYUSD on other networks with cheaper gas fees.”

DYDX, the native token of a decentralized exchange (DEX) with the same name, has been on a good run in the past few days. According to CoinGecko data, the cryptocurrency’s price jumped by 10.7% in the past week, reflecting a positive performance after an unfavorable start to August. However, there has been rising concern that this spurt of bullish momentum may be short-lived. And the upcoming token unlock event is the primary source of this skepticism. dYdX To Unlock $13.8 Million Worth Of Token In Single Event Token unlock events are not a strange phenomenon in the cryptocurrency space, as many blockchain networks and decentralized finance (DeFi) protocols have a portion of their token supply locked – to be released periodically. DYDX is one of those tokens with a locked supply and its next token unlock event is happening on Tuesday, August 29. In the latest iteration, the decentralized exchange will unlock $13.82 million worth of its native token to be distributed to its community treasury and rewards for liquidity providers and traders, according to data from Token Unlocks. The token tracking dashboard shows that the DEX will release 6.52 million DYDX tokens, which accounts for 3.76% of the token’s current circulating supply. Breaking this figure down, 2.49 million tokens – equivalent to $5.279 million at the current market price – will be allocated to the community treasury, which funds contributor grants, community initiatives, liquidity mining, and so on. Meanwhile, the remaining 4.03 DYDX tokens will be distributed between trading rewards (2.88 million tokens worth roughly $6.11 million) and liquidity provider rewards (1.15 million tokens worth an estimated $2.44 million). This is the second time the DEX will be carrying out an unlock event in August 2023. On August 1, 2023, dYdX executed an identical unlock event, distributing the same amount of tokens to the community treasury, liquidity providers, and traders. Upon completion of this forthcoming event, over 25% of the total token supply will be unlocked, while less than 75% of the supply will still be locked. Could This Event Hamper DYDX’s Rise? Given that a considerable chunk of the 6.52 million DYDX tokens will be going to liquidity providers and traders, the chances are that a substantial portion of the tokens will be offloaded in the open market. As such, the DYDX price could suffer due to increased selling pressure. The signs are not particularly positive from a historical perspective, either. Price action data reveals that the price of DYDX struggled after the identical unlock event on August 1. The token lost nearly 10% of its value in a few days, reaching $1.91 by August 4. Although the token has witnessed an impressive turnaround, investors could see DYDX fall below the $2 level again if history were to repeat itself. As of this writing, the DYDX token changes hands for $2.12, reflecting a 1.7% price dip in the last 24 hours. CoinGecko data shows that there has been a 36.2% decline in the token’s daily trading volume, signaling a recent fall in market activity.

DWF Labs sent 2 million CRV tokens from Binance to their on-chain wallet. Curve DAO Token had a decline of over 4.25% in the last 24 hours. DWF Labs, the global digital asset market maker, has revealed the firm sent a massive amount of the Curve DAO Token (CRV) from the world’s largest crypto exchange, Binance. Following the transactions, CRV has experienced a sudden surge of over 5%. Andrei Grachev, the head of DWF Labs, has shared that the firm has withdrawn 2 million CRV tokens from the crypto exchange Binance to their on-chain wallet. Moreover, he mentions that the firm is doing some inventory management. And in the future, the firm will send the coin back to the crypto exchange Binance. Following the transaction, Curve DAO Token has experienced a remarkable surge of around 5%. The sudden surge takes the price to reach $0.4949. The significant surge in CRV has caught the attention of the entire crypto market. However, the bullish trend does not last for too long. Following the surge, the CRV token falls back into the downtrend. At the time of writing, Curve DAO Token has been trading at $0.4596, with a decline of over 4.25%. However, the daily trading volume has experienced a surge of 125.14%, according to CoinMarketCap.

XDC Network (XDC) has surged by over 19% in the past 24 hours. XDC is trading at $0.06106 with a daily trading volume of $10.8 million, up 16% in a single day. While major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) are trading in relatively flat ranges, XinFin Network’s native cryptocurrency, XDC, has grabbed the spotlight with a significant rally of over 19% in the past 24 hours. At the time of writing, XDC is trading at $0.06106 with a daily trading volume of $10.8 million, marking a substantial 16% surge in a single day. The coin has emerged as one of the top gainers in the market, catching the attention of investors and traders alike. Earlier this month, on August 3rd, the leading cryptocurrency XDC experienced a remarkable surge, hitting a one-year all-time high in the range of $0.08. This surge represented a staggering 300% increase from its year-low of $0.03. Following this surge, XDC’s price displayed a period of consolidation, trading in the range of $0.07 to $0.06. However, a dip occurred on August 17, bringing the price down to the $0.05 range. That fits with a similar market scenario in the global cryptocurrency landscape. What’s Next for XDC? In an attempt to reclaim lost ground, XDC demonstrated resilience and managed to recover from the dip. A closer analysis of the daily price chart reveals that XDC has surpassed the short-term 50-day simple moving average (50 SMA). That suggesting prevailing market sentiment remains bullish, potentially driving the upward momentum. XDC Network (XDC) Price Chart (Source: TradingView) Additionally, XDC’s daily Relative Strength Index (RSI) stands at 55 indicating overbought conditions, possibly leading to a near-future corrective pullback. If the current trend continues, XDC’s price could potentially target resistance levels at $0.07690 and $0.12866. Conversely, if the trend reverses, the cryptocurrency may find support at levels of $0.05673 and $0.04682. Moreover, the 50-day moving average (50 MA) of the XDC Network has crossed above the 200-day moving average (200 MA). The crossing of the 50 MA above the 200 MA is a technical analysis indicator often referred to as a “Golden Cross.” Signaling potential price growth ahead for this altcoin. Recommended for you XDC Network (XDC) Price Prediction 2023

PEPE is garnering attention from major investors as the buzz surrounding the meme coin continues to grow. However, despite the increasing interest, these tokens are grappling with a persistently bearish sentiment, as their price performance remains lackluster. In an interesting turn of events, a significant number of investors are beginning to cast their gaze upon PEPE. Lookonchain’s latest report reveals a notable occurrence – a user invested 27 ETH, equivalent to $45,000, to secure a staggering 50 billion of the frog-themed token. More astonishingly, this same investor managed to acquire a jaw-dropping 5.9 trillion PEPE tokens for a mere 0.125 ETH, roughly valued at $251. This strategic move was followed by the sale of 3.95 trillion PEPE tokens, resulting in an impressive haul of 2,505 ETH, equivalent to $4.7 million. Surge In PEPE Interest Amid Mixed Sentiment Despite the glaring positivity in terms of investor activity, the overall sentiment surrounding PEPE tokens remains less than stellar. Lookonchain’s data cited in a price report indicates that social mentions related to the meme coin witnessed a solid 151.3% surge. Likewise, social engagements related to the coin also experienced a substantial uptick of 106.9% during the same period. This surge in interest could potentially pave the way for a more dynamic price movement for PEPE tokens in the future. However, the buoyancy in social media activity was not mirrored in sentiment. Santiment, a prominent on-chain analytics firm, utilized a weighted sentiment indicator to gauge the general outlook of PEPE across various social media platforms. This indicator painted a predominantly negative picture of the meme coin’s sentiment landscape, casting a shadow over the excitement surrounding the token. Price Volatility On The Horizon Santiment’s analysis also spotlighted a pivotal moment in PEPE’s journey – the transfer of a substantial 16 trillion Pepe tokens by the developers for sale on exchanges. This move thrusts Pepecoin into the spotlight as the top trending crypto topic. However, Santiment’s cautionary note echoes concerns about heightened price volatility that may lie ahead for PEPE tokens, further complicating their price trajectory. Meanwhile, PEPE is trading at a current price of $0.000000839460, with a 3.6% decline in the last 24 hours and a significant seven-day slump of 21.0%, as reported by CoinGecko. As PEPE continues to captivate larger investors and experience a surge in social media interest, the prevailing negative sentiment and ongoing price struggles underscore the challenges facing this unique cryptocurrency. (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 Coin Edition

Douro Labs Joins Network to Work on Perseus Upgrade as well as Permissionless Mainnet with Token-Led Governance PORTO, Portugal–(BUSINESS WIRE)–Douro Labs, a software development company dedicated to advancing the Pyth Network, officially launches today and is excited to be joining the network as the latest core contributor. The Pyth Data Association and the Pyth Network’s community includes a vast network of data contributors including top trading firms, leading exchanges, and premier crypto companies globally including Cboe Global Markets, Optiver, IMC, Flow Traders, OKX, Bybit, Wintermute, QCP Capital, Auros, Susquehanna International Group, and LMAX. The Douro Labs entity will initially work to implement the Perseus Upgrade and bring the network into a permissionless mainnet with token-led governance for the fall of 2023. Pyth Network is the largest first-party oracle for financial data. Oracles are programmatic data feeds that bring off-chain data on-chain for smart contracts to use. They are an essential component of decentralized finance (DeFi). The Pyth Network provides low-latency, high-fidelity, and tamper-resistant price data feeds directly to blockchains through a vast network of first-party data providers. “We are thrilled to welcome Douro Labs as the newest contributor to the Pyth Network,” said Marc Tillement, Director at Pyth Data Association. “The Pyth Data Association was formed with a mission to create the largest, most robust financial data marketplace for decentralized finance to build on. Thanks to a diversity of contributors and a growing ecosystem of users, the Pyth Network has quickly become the largest first-party oracle network.” Douro Labs was formed by long-time Pyth Network contributors Mike Cahill, Jayant Krishnamurthy, and Ciaran Cronin in July 2023. The company employs close to 20 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. The company is focused on contributing alongside other data providers and building developer-focused oracle tooling and core protocol infrastructure. “The Pyth Network is the fastest growing decentralized oracle, and is already becoming the go-to solution for modern DeFi applications that need cheap, lightning-fast, ultra-accurate pricing information,” said Mike Cahill, CEO of Douro Labs. “At Douro Labs, we are committed to accelerating the network’s continued growth and lifting up the next generation of DeFi apps that are building new tools and experiences that simply aren’t possible on legacy oracle infrastructure.” “As one of the founding institutional data providers on the Pyth Network, we are pleased to see the formation of Douro Labs as a dedicated blockchain infrastructure company,” said David Mercer, CEO of LMAX Group. “We look forward to supporting Douro Labs as it accelerates the development of this transformative and fundamental building block of the new financial infrastructure for both DeFi and TradFi. This expansion of capability underscores the value of democratizing the distribution of readily available, real-time and verifiable market data.” First-generation oracles rely on networks of third-party operators to source and aggregate pricing data, which is typically achieved through unauthorized scraping. Pyth Network’s model eliminates slow, unreliable third-party data aggregators and replaces them with fast, first-party data providers, such as trading firms, exchanges and brokerages. “Auros is thrilled to see the formation of Douro Labs, which furthers the mission of Pyth Network to democratize high-fidelity market data for all blockchain participants. The Auros team is a proud supporter of Pyth’s vision,” added Ben Roth, co-founder and CIO of Auros. “Together with the talented individuals at Douro Labs, we are committed to contributing to the advancement of Pyth’s decentralized oracle solutions and the growth of the blockchain and Web3 ecosystem.” The Pyth Network supports more than 300 sub-second price feeds across major asset classes including digital assets, equities, ETFs, FX and commodities. Additionally, over 180 DeFi and CeFi applications use the Pyth Network, including projects like Synthetix, Venus, Ribbon Finance, Vela Exchange, and Solend, as do more than 30 blockchains, including but not limited to Ethereum, BNB Chain, Arbitrum, Optimism, Base, Solana, Injective, zkSync Era, Fantom, Osmosis, Aptos, Sei, Aurora, and Sui. “Making market data accessible to investors has always been a core focus for us at IEX,” said Ronan Ryan, President of IEX Group. “We look forward to seeing how the talented team behind Douro Labs will add the tooling and infrastructure needed to make the Pyth Network a go-to market data solution.” To join the Pyth Network and become a data provider, please get in touch at pyth.network. If you’re interested in building applications on top of the world’s fastest-growing, most innovative oracle, get started in docs at docs.pyth.network/documentation. About Pyth Network The Pyth Network is the largest first-party oracle for the world’s financial data. It supports more than 300 real-time price feeds across major asset classes including digital assets, equities, ETFs, FX, and commodities. The network comprises some of the world’s largest exchanges, market makers, and financial services providers contributing their proprietary price data on-chain for aggregation and distribution to smart contract applications. Thanks to the Pyth Network’s innovative pull oracle design, applications can effortlessly “pull” the latest price onto their native blockchain on demand. In less than a year since the launch of its cross-chain pull model, the network has secured over $1B in total value. The Pyth Network has been used by DeFi protocols in over $65B in trading volume and in over 180 applications. You can learn more about the Pyth Network here and its documentation. About Douro Labs Douro Labs is a blockchain infrastructure company that contributes to the development and acceleration of the Pyth Network, the largest first-party financial oracle network for delivering real-time financial market data to smart contracts applications. Established in 2023, Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network’s suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants. To learn more about Douro Labs, please visit http://dourolabs.xyz/. About Pyth Data Association The Pyth Data Association is a Swiss association founded by Pyth Network participants to advance the development of the network. The Pyth Data Association is a contributor to the Pyth Network and helps facilitate protocol maintenance, ecosystem grants, and ecosystem development. To learn more about the association, please visit https://pythdataassociation.com/. Contacts Carissa Felger Gasthalter & Co. (212) 257-4170 [email protected]

ARKPIA at the forefront of uniting art and technology. Collaborating with international artists, leveraging its collection of curated artworks and IP to create a seamless fusion of digital assets, virtual exhibitions, AR, physical art, and blockchain technology. “ARKPIA Museum,” a virtual exhibition space set to launch on August 29th. The exhibit features the solo showcase and array of exhibitions of Gabriel Hollington, Sarah Beetson, and Florentijn Hofman. SEOUL, South Korea–(BUSINESS WIRE)–#ARKPIA–By converting the creations of renowned global artists into intellectual property (IP), the art brand ARKPIA engages in a variety of activities including offline exhibitions, artwork transactions, the production of art products, collaborations with brands, etc. To boost its global growth, ARKPIA is cooperating with well-known international artists and businesses. Notable partnerships include those of Florentijn Hofman, a Dutch installation artist well-known for his “The Rubber Duck Project” and Gabriel Hollington, a popular British illustrator notable for his collaboration with the fashion brand Vans. Collaboration artists also include Sarah Beetson, a British artist chosen by Saatchi Art in Australia for bright talent, and Ben Ouaniche, an internationally known Israeli visual artist with 1.9 million YouTube subscribers. ARKPIA is also working with the British illustrator Dan Woodger, who has created illustrations for brands like Pepsi, Apple, Samsung, McDonald’s, and Amazon. Additionally, ARKPIA plans to enter new contracts with prominent international businesses and major performers. ARKPIA announces that its online space museum will be planned in consideration of upcoming offline exhibitions showcasing the creations and worldviews of recruited artists. “Gabriel Hollington,” millennials and Generation Z’s well-known artist, will feature in the first exhibition under the theme of “Sneaky Downtown.” The erection of the exhibition space was planned by ARKPIA, while the technical execution was handled by Netstream. Open Worlds, Art Galleries, and Concept Halls will all feature Gabriel’s humorous and vivacious works. Gabriel will reveal his inner freedom, personality, and distinct perspective, providing joy to the audience as a street artist with experience creating murals. All the exhibited artworks will be connected to blockchain and can be bought as a digital asset. In the ever-evolving landscape of art where the boundaries are reshaped by advances in cutting-edge technology, Yohan Choi, the CEO of ARKPIA, has revealed the company’s commitment to pioneering new artistic frontiers. With a strong foundation in blockchain and innovative technologies, coupled with a global reach through its own artwork-purchasing platform, ARKPIA, aims to blend its artistic creativity and artists’ intellectual property to spearhead fresh ventures in the realm of art. As the technological landscape continues to reshape the art world, ARKPIA is poised to embrace these changes and push the boundaries of artistic exploration. ARKPIA Museum is supported by Japanese GameOn, and Korean Investment Partners, NEOWIZ. They carry out various activities through GameOn in Japan, including web2, web3, offline exhibitions, merchandising, and new IP initiatives, and these are in discussion to collaborate with several major international companies. Twitter Instagram Discord ARKPIA Museum Contacts ARKPIA [email protected] Younsu Kim VP/Director [email protected]

Some customers may be required to provide identification in line with Polish KYC rules. Two months earlier, Binance was told by Belgium’s financial authority to cease operations. Binance stated that its Poland subsidiary will begin serving citizens of Belgium in compliance with a directive from the Belgian Financial Services and Markets Authority (FSMA). Binance said on August 28 that the exchange’s Polish subsidiary, Binance Poland sp. z o.o., which was formed in January with approval from Polish regulatory authorities, would meet the “regulatory obligations” of Belgian citizens seeking services on the platform. Some Binance customers may be required to provide identification in line with Polish KYC regulations, rather than those of Belgium. About two months prior to the announcement, Binance was told by Belgium’s financial authority to cease operations and custodial wallet services for failing to comply with the country’s AML and Combating the Financing of Terrorism standards. All Eyes on Upcoming Legislation At the time, Belgium’s Financial Services and Markets Authority (FSMA) confirmed that Binance may do business in the country by way of a legal company incorporated under the laws of another European Economic Area (EEA) member state and approved by its home EEA member state. Currently, Poland is a member of the EEA. Binance has lately run into a number of regulatory hurdles. The cryptocurrency exchange stopped serving Dutch customers in July, claiming a lack of a VASP license as the reason. The U.S. SEC has also filed lawsuits against the exchange. Once passed, the Markets in Crypto-Assets law would provide a uniform regulatory framework for crypto assets throughout European Union member states. This is anticipated to occur in 2024. Highlighted Crypto News Today: Altcoins : Things to Know Before Investing in Bear Market

The relative strength index (RSI) shows that prices are now oversold. The price of Ethereum yet again made a failed attempt to break the $1660 mark. The overall crypto market seems to be stabilizing following a period of intense turbulence. At the time of writing Ethereum is trading at $1,645, up 0.82% in the last 24 hours as per CMC. However, Ethereum’s continuing decline over the previous month becomes more apparent at a wider scale as in the last month it has fallen by about 12.14%. Source: CoinMarketCap The relative strength index (RSI), shows that prices are now oversold. The price of Ethereum yet again made a failed attempt to break the $1660 mark. In order to begin a sustained rise, ETH has to break over the key short-term resistance at $1,660. Further Decline Likely Despite significant progress in network development and the brief recovery, the price of Ethereum looks to be trending lower in the next few weeks, according to an assessment by on-chain analytics platform Santiment. Post the price of Ether soared beyond $2,000 after the Shanghai upgrade earlier this year, the analytics platform’s data implies a pattern of whales and sharks engaged in considerable selling operations. Thus, according to Santiment’s analysis, Ethereum’s price is expected to decline further, maybe hitting a crucial support level at about $1,500. This data also supports the belief that trading activity in Ethereum will increase dramatically if the price hits the $1,500 level as traders will be eyeing to buy the dip. Since their peak in early November of the previous year, on-chain transaction volume and trading volume have significantly declined. Investors are not able to decide whether the present price of ETH is overpriced or undervalued, thus the shrinking trading volume.

Bitcoin dominance trend impacts altcoin sentiment, Ethereum’s PoS influence. Global crypto market cap holds strong at $1.09T. Amidst a crypto market dominated by bears, the global cryptocurrency market cap stands strong at $1.09 trillion. In the past 24 hours, a minor surge of 0.27% has occurred, reflecting a notable shift of 6.62% from a year ago. While Bitcoin (BTC) asserts its authority with a market cap of $507 billion, constituting 46.4% of the total market, the altcoin realm has not bowed down. Altcoins are surging in market capitalization alongside Stablecoins, which hold a formidable market cap of $124 billion. It is claiming an 11.38% stake in the crypto landscape. Dubbed as the “HODLing Phase” by analysts, the ongoing market turbulence finds whales, the crypto market’s significant players, setting the stage with vigilance. Santiment reports a surge in whale activity at the start of the week. The impact is evident in the market cap growth of numerous altcoins. Notably, networks witnessing transfers exceeding $10 million are creating ripples of volatility. Tokens like AAVE, COMP, CRV, IMX, & YGG are capturing attention as they ride the waves of change. Moreover, the spotlight on the above altcoins Price reveals volatility as well. AAVE, with a 3.29% surge in the past week, stands firm at $57. In contrast, COMP reflects a 7% dip, resting at $41. CRV has gained 5.61% in the last 7 days, with a notable 93.88% spike in trading volume over 24 hours. Immutable (IMX) has witnessed a 6.59% decline over the same period. Navigating the Altcoin Landscape As market dynamics shift, the question on investors’ minds is whether the current landscape heralds a new altcoin season. The past has seen altcoins skyrocket to extraordinary multiples, only to plummet afterward, often losing 90-99% of their peak value. To predict the altcoin resurgence, three essential factors come to light: sentiment, price patterns, and underlying fundamentals. Social media platforms have emerged as sentiment indicators. On platforms like YouTube, views related to cryptocurrencies have dwindled by 80-90%. Google searches exhibit a similar trend, signifying waning interest. Engagement has hit bear market lows. This scenario hints at the presence of survivors from the previous bear market, indicative of prevailing skepticism—a hallmark of early market recovery. However Altcoin projects continue their evolutionary journey. While fraudulent ventures have faded away, robust and innovative projects flourish. Ethereum’s transition to Proof of Stake (PoS) and the imminent launch of Ethereum ETFs demonstrate ongoing progress. Chainlink’s Chainlink Community Improvement Proposal (CCIP), Polygon’s impending Polygon 2.0 upgrade and broader DeFi and NFT advancements underscore the ecosystem’s vibrancy. According to Analysts , Drawing parallels from previous cycles, a period of high Bitcoin dominance, a precursor to halving events, often marks altcoins’ lowest sentiment. Current indicators lean towards a continuation of this pattern. Ethereum’s performance against Bitcoin adds intrigue. Unlike past cycles with pronounced corrections, the current cycle’s contraction is modest due to Ethereum’s transition to Proof of Stake (PoS). Some analysts suggest that accumulating positions, applying Dollar-Cost Averaging (DCA) during this period, and holding for two years could be the optimal approach. Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial, investment, or trading advice. The author and the website do not endorse or recommend any specific cryptocurrency, project, or investment strategy. Readers are advised to conduct their own research.

Since the price of Bitcoin fell below $30,000, numerous forecasts have been made on the currency’s potential future price outlook of the asset. As the biggest cryptocurrency in the world, Bitcoin has amassed price headlines, some of which are optimistic while others are pessimistic. However, a question that lingers is whether another crash is really the end of the world for Bitcoin. In such an event, Mike McGlone, a senior analyst at Bloomberg, believes that even a decrease in price to $10,000 would not be bad for Bitcoin. Bitcoin Still Outperforming The Stock Market A fall in Bitcoin to $10,000 would definitely lead to a chain of events in other cryptocurrencies, as most of the general market sentiment relies on Bitcoin. While many short-term holders and some long-term holders may panic sell, the long-term outlook is still bullish. Market analyst Mike McGlone puts the Bitcoin performance in comparison with the stock market, and the Amazon stock in particular. He points out that even with a 50% drop in its current price, BTC would still be outperforming Amazon stock. Amazon has had one of the best growth in terms of stock price in 20 years. Over the past 20 years, Amazon shares have generated a total return of over 7,000%. However, this is small when compared to how much BTC has grown since its launch in 2009 since the asset is up 26,000x since it first traded for $1 in 2011. “Bitcoin compares with 130% for Amazon on a similar measure, but that took about 25 years. Heading back towards $10,000 would still maintain Bitcoin’s unprecedented performance,” he said. Bitcoin is known for wild price swings since digital currencies are emerging assets, and volatility comes with the territory. With a current market cap of $506 billion, BTC has a 48.3% dominance in the crypto market. What’s Next For BTC? Bitcoin is currently trading at $26,000 after the cryptocurrency climbed over $30,000 earlier this year but fears have pushed the price back down to its current level. At its current levels, however, BTC is up more than 30.75% from the same period last year, showing a better price sentiment than in 2022. While BTC could definitely fall further below $26,000, a fall toward $10,000 is highly unlikely as many things would have to go wrong for BTC to reach $10,000. BTC is also gaining more mainstream traction from institutions, especially with current spot Bitcoin ETF filings. As a result, there is a greater possibility of Bitcoin’s price increasing than decreasing in the coming months. This is not the first time $10,000 price predictions have come in regarding BTC. Late last year, Mark Mobius, founder of Mobius Capital predicted Bitcoin might drop to $10,000 in the short term. On the other hand, there have been some optimistic forecasts made recently. Tom Fundstrat, one of the co-founders of Fundstrat, believes the price of BTC could reach $150,000 or maybe even further by the end of next year.

The price of Shiba Inu (SHIB) has experienced a downward trend over the past several days. This corrective phase, marked by declining trading volumes, is shedding light on a potential weakening in bearish momentum. Interestingly, this price action aligns with the emergence of a triangle pattern, a technical phenomenon that often holds significant implications for market trends. In technical analysis, a triangle pattern refers to a chart pattern formed when the price moves within converging trendlines, creating a triangular shape. This pattern indicates a period of consolidation and indecision in the market, as buyers and sellers reach an equilibrium. Typically, this pattern is associated with a temporary pause in the prevailing trend, and it often precedes a significant breakout or breakdown. Shiba Inu Bearish Pennant Formation According to a recent price analysis, this triangular sideways movement for SHIB comes on the heels of a substantial price drop, raising suspicions of a bearish pennant pattern taking shape. A bearish pennant is characterized by a brief consolidation period following a sharp decline in price. During this time, the bearish momentum takes a breather, potentially prolonging the correction trendline. A closer examination of the daily chart reveals a notable rejection from the lower trendline of the pattern. This rejection hints at the possibility of a bullish upswing within the confines of the pattern, suggesting that the SHIB price might be gearing up for a potential reversal. As of the latest data, the current SHIB price stands at $0.00000814 according to CoinGecko, indicating a 2.1% rally over the past 24 hours. In the span of seven days, SHIB has managed to accrue gains of 3.4%. These numbers, against the backdrop of recent market turbulence, hint at a certain level of resilience within the SHIB token. Implications Of Significant Token Movements Ali Martinez, a respected crypto trading chart analyst, has drawn attention to a startling development that could impact SHIB’s trajectory. In a post on X, Martinez noted an extraordinary movement: approximately 2 trillion SHIB tokens were rapidly withdrawn from established crypto exchange wallets within the preceding week. This revelation has set off ripples of speculation and discourse within the digital asset community. The swift movement of such a significant number of tokens raises questions about the potential implications for SHIB’s position within the broader crypto market. As market participants grapple with the ramifications of this withdrawal, it remains to be seen how this bold maneuver might shape SHIB’s future price action and overall market sentiment. With potential bullish signals emerging within this pattern and the intriguing withdrawal of tokens, the coming days could hold decisive clues about SHIB’s direction in a rapidly changing market environment. (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 Adobe Stock

The entire NFT market had its lowest weekly transaction volume in the preceding 2 years. The firm’s unregistered sale of NFTs violated the Securities Act of 1933 as per SEC. The number of people involved in NFT trading has dropped to a level not seen in last two years. In April of 2022, the NFT market had $480,738,395 in volume. However, the weekly volume has decreased to a meagre $10,054,152 as of the end of August 2023. Moreover, in recent weeks there were about 50,000 people actively involved in NFT trading, which may be indicative of a larger trend of waning interest in the NFT market. Also, the entire NFT market had its lowest weekly transaction volume in the preceding two years, at only $73.2 million. For a long time now, the NFT market has been underperforming with prominent NFT collections witnessing record low floor prices. Struggle Continues Now the recent action by the U.S SEC has only made things worse for the already struggling sector. After selling NFTs to investors between October and December 2021, a media and entertainment firm has been accused by the U.S SEC of engaging in unregistered securities transactions. Nearly $30 million was reportedly obtained by Los Angeles-based content creator Impact Theory via the selling of NFTs dubbed Founder’s Keys, which were sold in three levels. Moreover, the corporation allegedly told prospective investors that buying a Founder’s Key was like buying a piece of the company, as per the SEC. Also, according to the Securities and Exchange Commission, the firm’s unregistered sale of NFTs violated the Securities Act of 1933. Impact Theory has consented to a cease-and-desist injunction. Without admitting or contesting the SEC’s allegations, the corporation was compelled to pay over $6.1 million in penalty. In addition, a fund will be established to reimburse those who purchased Founder’s Key NFTs. Highlighted Crypto News Today: A Crypto Exchange & a Russian: Third and Fifth Largest BTC Holders

Shibarium has reached 101,395 wallets on the platform. SHIB has experienced a surge of over 2.26% in the last 24 hours. Shibarium, the layer-2 blockchain for Shiba Inu (SHIB), has reached a significant milestone after its relaunch. Recently, Shibarium has surpassed 100,000 wallets on the platform, with more than 35,000 coming within 24 hours of its relaunch. Moreover, the memecoin Shiba Inu has shown a notable surge. According to Shibariumscan, the Shibarium Blockhain’s explorer, the total wallet addresses on Shibarium have crossed the 100,000 mark. At the time of writing, it had reached 101,395 wallet addresses. Adding to that, the total blocks reached 347,546, with an average block time of 5.0 seconds. Moreover, the total transactions on the blockchain have reached 433,904, with 66K transactions in the last 24 hours. Shibairum is the most anticipated project by the memecoin Shiba Inu. After a long wait, the layer-2 blockchain launched on August 16. Following the initial launch, Shibarium faced technical issues and backlash from the crypto community. Recently, on August 28, Shibarium was relaunched after its initial public release after solving the technical glitches. Shibarium’s Relaunch Boosts SHIB’s Price Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, has released a blog post after the relaunch. He mentioned that the relaunch proved that the funds are always safe. The absence of massive servers for support raised concerns about the stability of Shibarium. However, the relaunch boosted confidence among the crypto community. The relaunch of Shibarium resulted in the platform hitting a remarkable milestone of 100,000 wallets. On the other hand, Shiba Inu has experienced a surge in the last 24 hours following the relaunch of Shibarium. At the time of writing, Shiba Inu is trading at $0.00000816, with a surge of over 2.26% in the last 24 hours. The trading volume of SHIB has experienced an increase of around 51.03%, according to CoinMarketCap. However, the relaunch didn’t impact Shibarium’s governance token. Bone ShibaSwap (BONE) has experienced a decline of over 2.23% in the last 24 hours. At the time of writing, BONE has been trading at $1.28. Do you think BONE will experience a surge? Tweet to us at @The_NewsCrypto and let us know your thoughts.