Telegram tap-to-earn games have “finally” brought the mass adoption to crypto the industry has waited for, says Blum founder and CEO Gleb Kostarev.
Amid ongoing volatility for the Bitcoin price, which has struggled to reclaim its all-time high of $73,700, bullish predictions continue to emerge for the leading cryptocurrency. The latest forecast comes from VanEck, asset manager and Bitcoin ETF issuer with over $100 billion in assets under management. Bitcoin Price Projection In a recent update, VanEck projected that by 2050, the Bitcoin price could solidify its position as a key international medium of exchange, potentially becoming one of the world’s reserve currencies. This assertion is rooted in the anticipated decline in trust in current reserve assets, prompting a shift toward more stable alternatives like Bitcoin. One of the primary barriers to Bitcoin’s widespread adoption has been its scalability issues. However, VanEck anticipates that these challenges will be addressed through the development of Layer-2 (L2) solutions, which enhance Bitcoin’s functionality and efficiency. By combining Bitcoin’s immutable property rights with the advanced features of L2 solutions, VanEck envisions a global financial system better equipped to meet the needs of the developing world. Related Reading: Bitcoin Ends August Down 8%: What To Expect From Historically Bearish September With this in mind, the firm believes that by 2050, Bitcoin could be used to settle 10% of international trade and 5% of domestic transactions, leading to central banks potentially holding 2.5% of their assets in BTC. Based on projections of global economic growth, BTC demand and turnover, VanEck estimates a potential price of $2.9 million per Bitcoin, which translates to a total market capitalization of approximately $61 trillion. This forecast incorporates assumptions about the global trade landscape, with trade growth expected to lag behind overall Gross Domestic Product (GDP) growth—projected at 2% versus 3%. Moreover, VanEck anticipates a market share decline for traditional currencies, such as the US dollar and the Euro, due to deteriorating economic fundamentals, which would allow Bitcoin and other emerging currencies to gain traction. Store Of Value Potential From a medium-of-exchange perspective, VanEck suggests that Bitcoin could capture 10% of cross-border payments and 5% of domestic trade. The firm also highlights that as Bitcoin becomes increasingly recognized as a store of value, approximately 85% of the circulating supply may be effectively removed from the market, further driving its value. The analysis reflects a broader trend of the Bitcoin price correlation with traditional risk assets, suggesting that its movements will remain closely linked to macroeconomic conditions. Related Reading: SUI Crashes 23% As September Unleashes Market Panic—Is A Comeback Possible? As the global economy evolves, VanEck predicts that Bitcoin will become an essential component of the International Monetary System, gaining market share from existing reserve currencies. At the time of writing, the Bitcoin price stands at $59,140, up 3% in the last few hours after rebounding from a drop towards $57,000 on Monday. Featured image from DALL-E, chart from TradingView.com
The volume of crypto liquidations from exchanges could be vastly underreported, a senior researcher from K33Research noted on X. Vast Underrepresentation Of Crypto Liquidation Data According to a series of posts on X by Vetle Lunde, a senior researcher at K33 Research, liquidation volume data shared by leading digital assets exchange might be severely underreported. […]
Radiant Capital's new liquidity plan could significantly boost user engagement and operational efficiency, enhancing the ecosystem's stability.
The post RDNT token jumps 20% following Radiant Capital’s new liquidity plan appeared first on Crypto Briefing.
A wallet address associated with the WazirX hacker has transferred $6.5 million worth of stolen ETH to Tornado Cash as the exchange opens up withdrawals to users ahead of time.
The flow of money has gone from treasury bills into higher-yielding reverse repos, according to the former BitMEX boss.
Bitcoin, after experiencing a blood bath last Month, several analysts have re-analyzed its price action to see what this new month of September might hold for the Bitcoin Market. Amongst them, a renowned crypto analyst known as Mags on X has recently shared an insightful perspective on Bitcoin’s current market behavior in one of his latest posts. Related Reading: Bitcoin’s Momentum at Risk? NVT Golden Cross Sends Warning Signals Is Bitcoin Primed For A September Rally? Mags pointed out that Bitcoin has been in a long consolidation phase since March and is now entering its seventh month. He drew a parallel to a similar pattern observed last year, where Bitcoin also began its consolidation in March, only to start recovering by September. According to Mags, over the following seven months, Bitcoin experienced a 195% increase in price. So far, this historical pattern has raised whether September will again serve as a pivotal month for Bitcoin. #Bitcoin – september is a bearish month ? We all know Bitcoin has been stuck in a long consolidation phase for the past few months. This sideways PA began in March and is still ongoing. But what if I told you we saw a similar pattern last year? Back then, the consolidation… pic.twitter.com/8PJ8MMNEUR — Mags (@thescalpingpro) September 2, 2024 Bitcoin is showing signs of a bearish trend, having fallen below the psychological $60,000 level. Over the past week, the cryptocurrency has seen a 9.9% decline. However, there seems to be a slight recovery in progress, with BTC currently trading at $58,411, up 0.3% in the past 24 hours. Next Moves Expected From BTC In response to Bitcoin’s recent price action, prominent crypto analyst Captain Faibik offered his outlook, suggesting that BTC is still moving within a bullish flag pattern. According to Faibik, there is a possibility that Bitcoin may test the $54,000 support area once again. He emphasized the importance of bulls defending this level, as a bounce back from $54,000 could potentially lead to a rally up to $68,000 in September. This scenario aligns with Mags’ theory that September could be a turning point for Bitcoin, mirroring last year’s price recovery. Adding to the discussion, another well-known analyst, Willy Woo, provided insights on the supply dynamics affecting Bitcoin’s price. Woo noted that the influx of BTC from sources such as Germany’s Mt. Gox and the US Department of Justice is gradually being “absorbed” by the market. Related Reading: Bitcoin’s Breakout Blueprint: Analyst Reveals Roadmap For Imminent Surge He also observed that paper BTC bets are declining, which he interprets as a positive sign. Overall, Woo suggested that the market sentiment has shifted from bearish towards neutral, indicating that the worst sell-off may be over. Featured image created with DALL-E, Chart
With the 3.18% jump in the Bitcoin price, a bullish engulfing candle reveals solid demand at the $57K level. As the buyers push back the supply available, the altcoins market fires up all the bullish cylinders for a bounce back. Amid the recovery, the AI tokens are making a comeback at a breakneck speed. So, …
The world’s largest cryptocurrency by market capitalization has recently experienced a significant downturn, falling below the $59,000 price mark. Despite this decline, which some might view as a potential buying opportunity, recent data suggests that investors are cautiously approaching the market. Related Reading: Stablecoin Metrics Continue To Set ATHs: Dry Powder Accumulating For Bitcoin? Low […]
The decentralized trading blockchain Vega Protocol says it expects its alpha mainnet chain to stop within the next three months.
The decentralized microblogging platform has seen traffic and user numbers surge following the X expulsion from Brazil.
Polkadot (DOT) is struggling below $5.00 against the US Dollar. The price must settle above the $4.35 and $4.50 resistance levels to start a decent increase. DOT declined steadily below the $5.50 and $5.00 levels against the US Dollar. The price is trading below the $5.00 zone and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $4.18 on the hourly chart of the DOT/USD pair (data source from Kraken). The pair could start a decent upward move if it settles above $4.35 and then $4.50. Polkadot Price Remains In The Red Zone In the past few weeks, DOT price saw a steady decline from well above $6.50. Bitcoin and Ethereum were stable, but Polkadot remained in the red zone. There was a close below the $5.00 level. Finally, the price tested the $4.00 zone. A low was formed at $4.03 and the price recently started a recovery wave. There was a move above the $4.10 and $4.15 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $4.65 swing high to the $4.03 low. There was also a break above a connecting bearish trend line with resistance at $4.18 on the hourly chart of the DOT/USD pair. DOT is now trading below the $4.50 zone and the 100 simple moving average (4 hours). Immediate resistance is near the $4.30 level. The next major resistance is near $4.35 or the 50% Fib retracement level of the downward move from the $4.65 swing high to the $4.03 low. A successful break above $4.35 could start another strong rally. In the stated case, the price could easily rally toward $4.50 in the near term. The next major resistance is seen near the $5.00 zone. Another Decline in DOT? If DOT price fails to start a fresh increase above $4.35, it could start another decline. The first key support is near the $4.15 level. The next major support is near the $4.10, below which the price might decline to $4.00. Any more losses may perhaps open the doors for a move toward the $3.85 support zone or $3.60. Technical Indicators Hourly MACD – The MACD for DOT/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOT/USD is now above the 50 level. Major Support Levels – $4.15 and $4.00. Major Resistance Levels – $4.35 and $4.50.
Bitcoin traders are upbeat, expecting prices to shake off recent weakness and soar above the local resistances to as high as $73,800. Even so, before the coin breaks above these liquidation regions, buyers must have conviction. Moreover, the leg up must be sustained by a fresh influx of new capital, ideally from investors fearing they will miss the train. Currently, Bitcoin is stable and moving inside last week’s bear range. At the same time, the coin is moving inside the September 1 bear candlestick that’s noticeably wide-ranging. Even though prices are higher at spot rates, finding support from the $56,500 and $57,000 support zone, some traders are not convinced. Bitcoin Needs To Break $70,000 For The Uptrend To Continue There are several reasons to be cautious. According to IntoTheBlock data, bulls need to be supported for the uptrend of Q1 2024 to continue. From their data, approximately seven million addresses bought BTC between $61,700 and $70,500. Related Reading: Ripple Unleashes 1 Billion XRP: Could This Trigger A Price Tsunami? At spot rates, the analytics platform notes that these addresses are at a loss. Therefore, whenever prices approaches their break even price, they are more likely to sell. Their sustained selling pressure and motivation to be safe, IntoTheBlock data analysts said, prevents BTC from ripping higher, soaring to all-time highs. In light of this, and for Bitcoin to soar, bulls need to sustain the rally above $60,000. Moreover, they need to decisively break $70,000, ideally with expanding volume. If anything, the level of engagement should exceed the trading volume posted on August 5. Then, prices slumped to as low as $49,000 in early August. Over 30% Of All Supply In The Hands Of HODLers, Paper BTC Declining While there is a likelihood that the nearly seven million addresses will dump BTC, a significant portion of BTC supply is in the hands of long-term holders (LTHs). LTHs are those addresses that have held BTC for at least 155 days. According to IntoTheBlock data, over 30% of the total supply has not been moved for over five years. Related Reading: Why Is Bitcoin Price Down Today? Key Reasons Explained Meanwhile, another bullish factor that can support prices in the coming days is how the market has been absorbing supply from German authorities, the United States Department of Justice (DoJ), and Mt. Gox. One on-chain analyst notes that the absorption is impressive. This development, coupled with declining “paper” BTC from derivative platforms like Binance, could support prices. Feature image from DALLE, chart from TradingView
Ripple is making headlines this week with several key announcements to strengthen blockchain infrastructure and support institutional adoption. These developments highlight Ripple’s commitment to blockchain technology. Here’s a quick roundup of their latest announcements! New Partnership with Futureverse Ripple has partnered with Futureverse, an AI and metaverse tech company, to provide secure asset custody through …
Japan’s crypto maneuver! On 30th September, in an official release, Japan’s Financial Services Agency (FSA) released its tax reform requests for the fiscal year 2025, highlighting virtual currencies in its “A plan to double asset income” section. The FSA suggests that virtual currency transactions should be considered as financial assets for investment. The reform also …
Elon Musk’s X TV app has officially launched, allowing users to access the platform directly from their smart TVs. This move is part of Musk’s vision to transform X into an “Everything App,” potentially positioning it as a rival to YouTube. The app’s launch comes after Musk hinted at its development five months ago, and …
The Qatar Financial Centre (QFC) in Doha has introduced its Digital Assets Framework 2024, inviting local and international companies to apply for licenses as token service providers. Launched on September 1, the framework establishes a legal and regulatory foundation for digital assets, covering tokenization, custody, transfer, exchange, and smart contracts. This initiative, developed with input …
Shiba Inu (SHIB) has started the month on a bearish note, as its price has dropped significantly since September 1. Based on historical data, SHIB could suffer more price declines this month, as the meme coin has often closed at a loss in September. Shiba Inu Begins September In The Red Data from CoinMarketCap shows […]
XRP price started a recovery wave from the $0.5440 zone. The price is now eyeing more gains above the $0.5720 resistance zone in the near term. XRP price started a decent increase from the $0.5400 zone. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could climb higher toward the $0.600 zone if it clears the $0.5720 resistance zone. XRP Price Starts Recovery XRP price extended losses like Bitcoin and Ethereum. The price even tested the $0.5440 zone before the bulls appeared. The price started a recovery wave and was able to climb above the $0.5550 resistance zone. Besides, there was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP/USD pair. There was a clear move above the $0.5650 resistance. Finally, it retested the $0.5720 resistance zone. A high was formed at $0.5718 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.5440 swing low to the $0.5718 high. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.570 level. The first major resistance is near the $0.5720 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.600 resistance. The next major resistance is near the $0.6060 level. Any more gains might send the price toward the $0.6150 resistance or even $0.620 in the near term. Another Decline? If XRP fails to clear the $0.5720 resistance zone, it could start another decline. Initial support on the downside is near the $0.562 level. The next major support is at $0.5580 or the 50% Fib retracement level of the upward move from the $0.5440 swing low to the $0.5718 high. If there is a downside break and a close below the $0.5580 level, the price might continue to decline toward the $0.5440 support in the near term. The next major support sits at $0.5320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5580 and $0.5440. Major Resistance Levels – $0.5720 and $0.5850.
For the first time ever, a Scottish court seized Bitcoin from the “technical brains” behind a robbery where a woman was beaten with a Toblerone.
The Ethereum price action has significantly underperformed traders’ expectations over the past few months. Ethereum is currently trapped in a bearish trend, with its price now down by 23% over a 30-day period. This downturn contrasts sharply with the hopes of many ETH investors who have been anticipating a bullish surge following the launch of Spot Ethereum ETFs. However, technical analysis suggests that Ethereum’s recent performance is not unusual for the cryptocurrency, as it appears to be mirroring a similar pattern observed in 2016. Ethereum Maintains Similarities With 2016 Price Movements Despite the price concerns, a deeper look into Ethereum’s historical price movements suggests that the current situation might not be as unfamiliar as it seems. According to an ongoing analysis by popular crypto analyst Benjamin Cowen, Ethereum’s price action in 2024 closely mirrors its performance in 2016 when viewed on the monthly candlestick chart. This pattern of repetition became even more apparent after August 2024 concluded with Ethereum closing on a bearish candle, mirroring the same outcome in August 2016. Related Reading: Dogecoin Eyes Massive Bull Surge As Metrics Turn Green Isolated, this would’ve probably not meant anything. However, as Cowen has highlighted, this pattern has been consistent throughout 2024, dating back to January. Interestingly, Ethereum has closed monthly candlesticks the same way as in 2016 for eight months in a row. As such, this could give an idea of how Ethereum could continue to play out for the rest of the year. #ETH / #USD monthly candles continue to track 2016 perfectly. If it continues to play out, it would suggest #ETH is green in September, and then red Oct-Dec. Then in 2025 #ETH turns green for a while pic.twitter.com/G8WtDwQlWY — Benjamin Cowen (@intocryptoverse) August 21, 2024 Back in 2016, Ethereum eventually went on a massive 19,000% rally, which saw it reach $1,590 for the first time. If this continues to play out like in 2016, investors can look towards a green monthly close for Ethereum in September and then three consecutive bearish months from October to December. If this price action repetition continues after December 2024, Ethereum will eventually go on a notable price rally above its current all-time high. This would push fervent Ethereum bulls into the much-needed profitability they’ve been anticipating. Road To $5,000? At the time of writing, Ethereum is trading at $2,445, a decline of 10.85% over the past seven days and 23% over the past 30 days. If the current trend continues to mirror the 2016 pattern, Ethereum’s bearish momentum might persist throughout the remainder of the year. However, not all hope is lost for Ethereum bulls, as the cryptocurrency is currently hovering around a critical support level that could trigger a rebound upwards. Related Reading: Crypto Market In Trouble As Analyst Predicts $1 Trillion Crash Ethereum’s price is at a crucial support level, specifically at the 0.382 Fibonacci retracement level, just above $2,400. A significant bounce from this level could signal the start of an upward trend, leading to a close above its monthly open by the end of September. An ETH surge above $3,000 into $4,000, and subsequently, $5,000 is still in the books. Featured image created with Dall.E, chart from Tradingview.com
Ethereum price is attempting a recovery wave from the $2,400 zone. ETH must clear $2,550 to continue higher in the near term. Ethereum started a decent recovery wave above the $2,450 level. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,485 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,500 to start another increase in the near term. Ethereum Price Starts Recovery Ethereum price extended losses below the $2,500 level. ETH even tested the $2,400 support before the bulls appeared. The price started a recovery wave above the $2,450 level like Bitcoin. There was a move above the $2,480 and $2,500 resistance levels. The price climbed above the 50% Fib retracement level of the downward wave from the $2,595 swing high to the $2,400 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,485 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level. It is close to the 76.4% Fib retracement level of the downward wave from the $2,595 swing high to the $2,400 low. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,650 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,800 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,495. The first major support sits near the $2,450 zone. A clear move below the $2,450 support might push the price toward $2,400 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,450 Major Resistance Level – $2,550
Ripple's chief legal officer Stuart Alderoty says the term is “fabricated” with no legal basis.
Data shows Bitcoin users on the Coinbase exchange have been selling recently, a potential reason behind BTC’s drop under $58,000. Bitcoin Has Slipped Under The $58,000 Level In Its Latest Plunge Contrary to what investors may have hoped, Bitcoin hasn’t appeared to have shaken off bearish winds as the asset has witnessed another setback over […]
Wazirx, one of the biggest Indian crypto exchanges, is still in hot waters. In the aftermath of the massive $234 million hack that hit WazirX, the Indian cryptocurrency exchange is facing intense scrutiny and significant challenges. With over 43% of customers’ funds at risk, the road to recovery seems long and uncertain. Let’s break down …
Analysts say upcoming rate cuts could be a boon for Bitcoin’s price action but the market is still in “wait and see” mode.
“I’m not okay, this is f*cked up,” Gambaryan said in the video, as he clutched the guard’s wrist for support. When the guard stepped away, leaving Gambaryan with only a single crutch to lean on, Gambaryan turned to a small crowd of onlookers and said
Bitcoin price started a recovery wave from the $57,200 zone. BTC is rising, but it might struggle to surpass the $60,200 and $61,150 resistance levels. Bitcoin is attempting a recovery wave above the $58,000 support zone. The price is trading above $58,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could face heavy resistance at $60,200 or $61,150 in the near term. Bitcoin Price Starts Recovery Bitcoin price extended losses below the $58,500 support levels. BTC even spiked below $57,200. A low was formed at $57,124 and the price recently started a recovery wave. There was a move above the $58,000 and $58,200 resistance levels. It cleared the 50% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low. There was also a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $58,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $60,200 level or the 76.4% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low. The first key resistance is near the $61,150 level. A clear move above the $61,150 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,000. A close above the $62,000 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance. Another Decline In BTC? If Bitcoin fails to rise above the $60,200 resistance zone, it could start another decline. Immediate support on the downside is near the $58,750 level. The first major support is $58,500. The next support is now near the $57,200 zone. Any more losses might send the price toward the $56,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $58,750, followed by $58,500. Major Resistance Levels – $60,200, and $61,150.
The Indian crypto exchange was hacked for over $230 million in July, and a restructuring process is underway in Singapore.
Crypto gaming console SuiPlay0x1 is officially available for pre-order after its creators release details on its specs and pricing.