Shiba Inu (SHIB) is approaching critical resistance

Things are not going well for the popular memcoin Shiba Inu (SHIB). The cryptocurrency is now approaching an important resistance, from which it could roll back to $0.000010

Let's look into what's going on with Shiba Inu (SHIB) and what levels traders and investors should be watching for right now.

Trouble is not letting up for Shiba Inu

According to Glassnode, SHIB's network value to transaction (NVT) ratio spiked on September 14 and is still high.

This ratio tracks the relationship between market price (or market capitalization) and transaction volume. Low values indicate that the asset is undervalued and may hint at a possible price increase, while high values signal that it is overvalued and may fall in value.

The In/Out of Money Around Price (IOMAP) indicator also points to a possible fall in Shiba Inu. It shows price levels where holders have concentrated large amounts of the cryptocurrency.

According to IntoTheBlock, SHIB faces strong resistance at $0.000014, where 10,780 addresses hold nearly 45 trillion tokens. This is more than the number of SHIBs between $0.000011 and $0.000013.

This distribution of tokens signals that supply may exceed demand. Then the price of memcoin could fall to $0.000010.

SHIB forecast: to break out of the “triangle”

At the time of writing this analysis, SHIB is trading at $0.000013, having lost more than 4% in the last 24 hours. The next important resistance awaits the memcoin at $0.000014.

Back in June, Shiba Inu has been moving within a descending triangle pattern. This pattern, formed by a descending upper trendline and horizontal support, usually indicates that sellers are in control and the price is likely to decline.

In case of a fall below the base of the trianglea memcoin risks facing a ~20% correction, which would lower its price to $0.000010.

Nevertheless, if SHIB breaks out of the triangle, the bearish thesis could be refuted. In that case, the price will get a chance to rise towards $0.000016.

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Arthur Hayes: Aptos can solve the problems of traditional finance

Arthur Hayes, founder of cryptocurrency exchange BitMEX, believes that the Aptos Tier 1 blockchain (APT) can solve many problems in the world of traditional finance (TradFi). He stated this during the Aptos Experience conference in Seoul.

Hayes said his experience in the TradFi world confirms how outdated the industry is, a characteristic of which is frequent disputes over delayed settlements, currency payments and stock deliveries.

As an ETF issuer, you don't want to deal with all that, so you move it all to DEX on Aptos. With DEX, you get 24/7 trading and immediate settlement...

Hayes added that such a move would eliminate the need for a mass of unnecessary middlemen, solving a lot of problems for firms like BlackRock.

When you remove the middlemen, brokers will no longer be needed. Anyone with a wallet becomes a broker. There's no need for custodians as the network handles the custody itself, or you take an easy-to-use wallet....

All that volume and revenue can be internalized, allowing you to offer lower commissions to customers and better incentives to your merchants. Let's just say that using Aptos DEX will solve a LOT of problems for a TradFi institution like BlackRock.

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Justin Sun: TRON will be in the top 3 cryptocurrencies within 2 years

TRON founder Justin Sun has boldly suggested that TRON will become one of the top three cryptocurrencies within the next two years.

Anticipating the bewilderment over his words, Sun emphasized the tremendous journey TRON has made in seven years. Back then, making it into the top three coins was just his personal ambition. Now, having earned a certain reputation and widespread adoption, Sun considers the idea quite realistic.

He noted that “almost everyone in crypto space is using Tron,” which is driving significant demand for the TRX blockchain cryptocurrency.

According to CoinGecko, Tron is currently ranked 11th in the global ranking of all cryptocurrencies. The cryptocurrency's market capitalization has approached $13 billion and the circulating supply has reached TRX 87 billion.

The Tether (USDT) stablecoin has played a big role in the growing use of TRON over the years. Many members of the crypto community favor TRON for USDT transactions because of its fast processing speed and consistently low fees.

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Titan of Crypto analyst predicted bitcoin's rise to $90,000

After a rather long drawdown, the flagship of the crypto market is again showing signs of strength, continuing to strengthen its positions. A number of experts suggest that in the medium term, this dynamics will continue. This view is shared by a popular expert under the nickname Titan of Crypto. According to him, in the coming months bitcoin will surely reach the $92,000 mark.

The expert noted that in previous cycles, the price tested the 50-week moving average, followed by a pullback of at least 40%. Based on these historical statistics, the expert assumes that the price will retest the area of $90,000 and higher.

During yesterday's trading, the flagship of the crypto market for the first time since the end of August reached the psychologically important mark of $60,000. It is also worth noting that traditionally September is considered an unfavorable period for the segment of digital assets. However, then bitcoin often actively grows for 3 months in a row, until the end of the year.

If we take the average values, bitcoin strengthened its position by more than 20% in October. In this aspect, November is considered even better, as bitcoin appreciated by about 45% on average.

However, it is worth considering that the results of the upcoming Fed meeting, which will be held next week, will have a big impact.

Most experts agree that the US regulator will still lower the key rate. Of course, in the long term, this is a positive factor for the digital asset segment. However, it is difficult to predict how the cryptocurrency market will react in the short-term dynamics. It is possible that many coins will react passively, as this scenario has long been taken into account by the price. On the other hand, if the Fed does decide to lower the rate by 50 basis points, then a sharp increase is possible.

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The head of TrustWallet spoke about the problems of cryptocurrency wallets

Recently, the head of TrustWallet, Eowyn Chen, gave an interview to BeInCrypto. The specialist spoke about the problems that cryptocurrency wallets often face. She reported that her organization is now based in Dubai. According to her, the specialist team had to take into account the experience of Binance, which often faces regulatory challenges in different jurisdictions.

Chen also believes that most cryptocurrency wallets are not profitable. Metamask and Coinbase Wallet remain potentially profitable at the moment. This is due to the fact that it is quite difficult to work in this industry, especially in a highly competitive environment.

The specialist reported that initially TrustWallet was focused exclusively on the Ethereum network. However, the current tool supports more than 100 chains. It is planned that in the foreseeable future there will be integration of smart contracts like EIP-7702. Chen cited scalability as a key challenge. This is especially pronounced when it comes to cryptocurrency wallets that support multiple blockchains.

“When you want to provide users with an efficient experience, you can't just rely on relying on commonly known standards,” the specialist emphasized. As for the outlook for crypto wallets, Chen noted the fact that they will become an important part of the B2B ecosystem.

The Amazon Web 3 service was mentioned as an example, offering a variety of utilities that improve user experience. The head of TrustWallet did not rule out that in some time web wallet extensions may disappear. However, their functionality will be embedded in decentralized applications to ensure a seamless experience. TrustWallet is currently considered one of the most popular mobile wallets.

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Solana (SOL) could move back to $160 on the back of this bullish signal

Solana price is oscillating between $124 and $186 and has been in a macro consolidation phase for a long time. The key resistance level of $160 is critical for SOL's future momentum.

Although some indicators foreshadow a possible rise, the momentum may not be strong enough to lift the altcoin above this level. Let's break down how realistic a bullish scenario looks at the moment.

Broad market signals favor Solana

Market sentiment around Solana is leaning bullish right now: the Bollinger Bands are narrowing, which often heralds potential price gains, and candlestick positioning above the Bollinger Bands baseline indicates increasing upward momentum in SOL.

In addition, trading volume remains low, which usually precedes major price moves. This combination of factors suggests that Solana may soon show upside momentum approaching $160.

The moving average convergence-divergence indicator, meanwhile, is showing a widening gap between the MACD line and the signal line after a recent bullish crossover. With Solana now testing key resistance levels, the MACD is hinting at a possible uptrend in the coming days.

SOL price outlook: new day, same range

Solana price is trying to consolidate above the $136 mark. If successful, this could push SOL up towards the critical resistance level of $160. However, at this stage the price growth may slow down - in this case SOL will continue macro consolidation in the given range.

In case of unsuccessful breakout attempt and loss of $136 level Solana risks falling to $124. This will cast doubt on the current optimistic forecast and require investors to be especially cautious when trading SOL.

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Toncoin is up 30%, but there are bearish signals

Over the past week, Toncoin rose in price by almost 33%. Thus, the asset demonstrated one of the most pronounced growth dynamics among the top-10 cryptocurrencies in terms of capitalization. However, a number of experts note that despite this, there are clear bearish signals on the daily interval. Trading volumes have increased significantly over the past days.

This supported the existing bullish trend. But for it to continue, it is necessary that the volumes continue to be kept at a high level. Also, experts note that RSI is near the 50 mark on the daily interval. This partly indicates that the bullish momentum is systematically gaining momentum. But it is difficult to speculate whether the strong buyers will be able to realize their potential.

There is also a bearish market structure on the D1 interval. At the same time, there are no preconditions for it to change globally. On the other hand, macroeconomic data, which will appear in the coming week, will be important. And we are talking primarily about the meeting of the Federal System.

It is expected that the agency will reduce the key refinancing rate by 25 basis points. Of course, the easing of monetary policy is a definite plus for the cryptocurrency segment, but in the long term. From a short-term perspective, it's hard to say how the market might react.

The thing is that this event is expected by the traders and it is already taken into account by the price. Therefore, the market may react to it rather passively. Short-term price drawdown is not excluded. This is especially true when many cryptocurrencies have significantly strengthened their positions over the last 7 days. It is likely that in such conditions, short-term traders may initiate sell-offs. However, it is very difficult to thoroughly predict the market reaction.

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3 token unlocks to watch out for this week

We tell you which tokens will be unlocked in the coming week and how major unlocks can affect the market dynamics

Usually, the team works out the tokenomics carefully so as not to cause a lot of selling pressure at various stages of unlocking and thereby collapse the token price. Nevertheless, some factors, such as lack of liquidity or profit taking by early investors immediately after token unlocking, can seriously hit the asset's price.

BeInCrypto's editorial team has selected 3 important unlocks to watch out for next week.

Arbitrum (ARB)
Unlock date: September 16
Number of unlocked tokens: 92.65 million ARBs
Circulating supply: 3.49 billion ARBs

ApeCoin (APE)
Unlock date: September 17
Number of unlocked tokens: 15.60 million APE
Circulating supply: 674.64 mln APE

Space ID (ID)
Unlock date: September 22
Number of unlocked tokens: 78.49 million IDs
Current volume in circulation: 430.50 million IDs

Other cliff-breakers next week included Echelon Prime (PRIME), Pixel (PIXEL), Lista DAO (LISTA), and Astar Network (ASTR). The total value of tokens that will come into circulation is more than $116 million.

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The total value of political meme tokens has collapsed by 90%

Despite the upcoming U.S. presidential election, the market capitalization of political meme tokens has collapsed by 90%.

According to Blockworks, in early June, the capitalization level of five leading cryptocurrencies dedicated to politicians reached a maximum of $1.25 billion. This list of assets included coins of former President Donald Trump MAGA (TRUMP), MAGA Hat (MAGA) and Doland Tremp (TREMP), the token Jeo Boden (BODEN) issued by supporters of the current head of the United States Joe Biden and the cryptocurrency of Vice President Kamala Harris Kamala Horris (KAMA). However, due to the sharp decline in the exchange rate of these coins, their market capitalization has fallen below $170 million.

The graph published by Blockworks employees shows that the dynamics of changes in the capitalization level of political meme tokens, indicated by the gray diagram, almost completely repeated the fluctuations in the value of issued Ethereum (ETH), reflected by the purple line. This fact suggests that cryptocurrencies based on memes about politicians have fallen victim to the bearish trend that has dominated the digital asset market since mid-March 2024.

Specialists explain the rapid depreciation of political meme tokens by the lack of great interest in them on the part of members of the crypto community. This is evidenced by the fact that the number of owners of MAGA coins grew by several thousand after the verdict in the case against Trump, who bribed porn actress Stormy Daniels, and the attempted assassination of Donald. And after the recent debate between Trump and Harris, the number of TRUMP token holders only rose by 424.

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A complete overview of Hamster Kombat's value: what do you need to know about price and capitalization?

Hamster Kombat is a popular tap into Telegram, around which there are a lot of rumors, noise and expectations, and the price of Hamster Kombat coin is the most discussed topic in the community and the cause of many disputes. The number of users in the sensational flagship Notcoin amounted to just over 30 million, while Hamster attracted almost 10 times more.

Hamster has undoubtedly become a record-breaker in terms of the number of users and also impresses with prominent partners. However, the NOT token already has a huge impact on the cryptocurrency market, at least on the TON blockchain, memcoin has eclipsed even the mainstream cryptocurrency. For now, it cannot be said that Hamster coin has a chance to take its place.

Already on September 26, Hamster will be listed on many exchanges. Recently, Binance announced the support of the project, the coin will appear on the top platform as well. The premarket for Hamster Kombat opened back in July, then the prices for the token reached incredible values, for example, the largest transaction was at a price of 238 dollars per 1 token. The value of Hamster coin is currently hovering around 5 cents, at the launch it was 7 cents. Does this mean that players' interest and faith in the project has gone down? Should we wait for a grandiose drop and big earnings of players? In the article, let's try to understand what the Hamster Kombat token is and what are the community's chances of making money in the project.

The current price of the Hamster Kombat token and the factors affecting its change

The price of the Hamster Kombat coin at the time of writing the review is determined by the interest of traders in the cryptocurrency on the premarket. At the moment, the growth prospect of altcoins directly depends on the situation around the US interest rate. Traders expect the Fed to lower the rate on September 18. At the moment, the Fed has left it unchanged for 8 consecutive meetings, which gives hope for a soon decline. However, it is important to understand the dynamics of cryptocurrencies after this event. For example, in 2019, after 4 meetings without changing the rate, there was a decrease in the rate, which led to a prolonged bearish trend on BTC. Altcoins had a rough time at that point.

The Hamster Kombat premarket was opened in July on the Baybit exchange and several other cryptocurrency platforms. The first prices of the Hamster token indicated positive investor sentiment and averaged $0.07. However, in two months there was a lot of negative news and rumors around the game, which led to a decrease in the preliminary price, the minimum value was recorded at $0.001. Now the value of Hamster Coin on the same exchange Bybit is equal to $0.05. At the same time, the market capitalization of the token is not yet estimated in any way.

And although the purchase of cryptocurrency through USDT is a sign of stability, but this does not encourage investors who are ready to sell the future drop even at reduced prices. Another fact is also important. The listing of cryptocurrencies on exchanges is most often accompanied by a price dump, as weak hands come out, that is, those who received the drop and are in a hurry to dump it regardless of the price. The value of Hamster in such a case can drop a lot.

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Nvidia stock sales have surpassed the $104 million mark

Nvidia CEO Jen-Hsun Huang recently embarked on a substantial stock sale strategy that has resonated in the market. In the middle of the week, more than 240 thousand securities were sold for almost $27 million. Currently, the community is divided in its opinion about such actions of Nvidia. Some believe that it can be perceived as a bullish signal. The point is that the increased supply may put pressure on the global market.

What is noteworthy here is that Nvidia shares and bitcoin quotes are directly correlated with each other. Consequently, a fall in the value of securities can negatively affect the dynamics of the flagship crypto asset. The companies whose activities are related to artificial intelligence will also face difficulties. This year, the securities of Nvidia have added more than 140% to the price.

In parallel, many experts emphasize that the presented organization has a dominant share in the segment of video chip production. Consequently, selling shares on a large scale could put extensive pressure on the high-risk asset industry.

Nvidia's dominance in AI-based solutions continues to fuel positive outlook. Recent advances, particularly the expected release of Blackwell chips, will support bullish momentum. In addition, ongoing discussions about chip exports to Saudi Arabia could further strengthen the firm's market position. This development has already contributed to recent upbeat market moves, with NVDA stock rising significantly. It should also be noted that the company recently reported its financial results for the past quarter. They turned out to be positive, however, the cryptocurrency market reacted by falling.

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The scale of liquidations of short positions in the market exceeded the mark of $48 mln

Bitcoin recently reached the round and psychologically important level of $60,000. At some point, the quotes even overcame this area, but have not yet managed to gain a foothold above it. Such a bullish surge provoked an extensive liquidation of short positions, which in terms of scale almost reached the $50 million mark.

In parallel, onchain metrics indicate that investors are actively withdrawing bitcoin for cold storage. In just the last 3 months, trading participants have accumulated at least 28,000 Bitcoin. Also, the stocks of centralized platforms have also significantly decreased recently. At the moment, about 1.8 million coins remain on such platforms. In total, users have withdrawn about 75,000 Bitcoins in 3 months.

This whole situation indicates that investors are withdrawing funds for cold storage. Consequently, the decrease in available supply may favorably affect bitcoin. This will be especially pronounced in conditions of stable high demand. At the moment, traders are closely watching the upcoming Fed meeting. It is expected that next week the main US regulator will reduce the funding rate.

If to believe the data of Fed WatchTool, the probability of its decrease by 50 basis points has increased to 50%. Just a few days ago, this indicator was at the level of 15%. Of course, the easing of monetary policy is traditionally favorable for bitcoin dynamics. If the Fed reduces the rate so significantly, this situation will provoke a sharp rise in the value of the main digital coin.

Bitcoin is now trading near the $60,000 mark, having gained more than 10% over the past week. Over the past 24 hours, trading volumes reached $24 billion, which indicates the growing volatility of the crypto market.

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Jeremy Ellair has announced the relocation of Circle's headquarters to the US

Jeremy Allaire, CEO of Circle, issuer of the USDC's second largest steiblcoin by market capitalization, has announced the relocation of the company's headquarters to New York City.

Circle's Jeremy Allaire took social network X on a virtual tour of the company's new office in the central building of the World Trade Center complex in lower Manhattan's One World Trade Center.

“Today we are celebrating the opening of our new headquarters. Joining us in New York City are industry representatives, policymakers and key partners who have played a key role in Circle's growth and success. Join us at this stage of our journey. We are investing in New York. We are investing in America,” Ellair wrote.

The Circle CEO clarified that Circle's headquarters is not being built as a traditional office, but as a space to create a new online financial system and meetings for stakeholders to work together. The new office will be operational in early 2025.

Rumors that the holding company Circle Internet Financial intends to relocate from Ireland to the U.S., appeared back in May. The official reason for the change of jurisdiction was Circle's intention to hold an IPO in the United States, which the company notified the U.S. Securities and Exchange Commission (SEC) in January.

At that time, Circle clarified that the details of the number of shares and prices have not yet been determined, and the change of jurisdiction will coincide in time with the IPO, which depends on market conditions and the timing of SEC approval.

Earlier it became known that Circle received a license from the Electronic Money Institution (EMI) for operations with stablecoins, in accordance with the law on regulation of cryptocurrencies in the European Union (MiCA).

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Bets on the future president of the United States on Polymarket reached $1 billion

Decentralized prediction platform Polymarket has collected over $900 million as a bet on the candidate who will become the next president of the United States.

So far, the US Vice President and Democratic presidential candidate Kamala Harris is leading with a 50% probability of winning and a bet of over $127 million. Former President and Republican candidate Donald Trump is in second place with a winning odds of 49% and a bet of almost $144 million. Initially, Trump was the favorite among Polymarket users, but a few days ago, the balance has changed.

In addition to betting on the victory of the US presidential candidates, Polymarket platform users predict other things related to the election campaign. For example, the probability that Trump will say “cryptocurrency” during the debate with Kamala Harris, which took place on September 10 in Philadelphia.

Overall, the U.S. presidential election has contributed to Polymarket's explosive growth. August became the most active month in the history of the platform. In the last month of summer the number of users of the platform reached 63,620, the volume of bets exceeded $472.84 million.

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PolitiFi tokens collapse to seven-month low: what's next

Political Finance (PolitiFi) tokens, inspired by political figures, have lost significant value.

At the beginning of June, the sector had a market capitalization of around $1.25 billion. At the time of writing, it has collapsed 90% to just $154.9 million.

PolitiFi tokens have lost nearly 90% of their value in three months

Memcoins inspired by political figures caught the attention of investors in mid-2023. The sector saw impressive growth during the bitcoin bull market, fueled by excitement around spot ETFs. However, 50 days before the U.S. presidential election, things changed markedly.

The five most popular PolitiFi memcoins - MAGA (TRUMP), MAGA Hat (MAGA), Doland Tremp (TREMP), Jeo Boden (BODEN) and Kamala Horris (KAMA) - are now trading nearly 90% below their peak market capitalization.

The fall continues even though Kamala Harris, the likely Democratic nominee, has changed her stance on cryptocurrencies and Republican Donald Trump has long voiced support for the industry.

One possible reason for the falling prices of PolitiFi tokens could be the lack of new investors. To offset the current selling pressure, the market needs an influx of fresh liquidity. A possible catalyst for growth will be the long-awaited October rally, which is often referred to as “Uptober.”

The launch of Donald Trump's new crypto project World Liberty Financial (WLFI) could also have a positive impact on the sector's dynamics. Ahead of this event, investors and traders should keep an eye on Trump-related memcoins such as TRUMP, MAGA, TREMP and BODEN.

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Polymarket takes bets on second Trump assassination attempt

The website Polymarket is accepting bets on the man who made a second attempt on Donald Trump.

On September 15, US Secret Service officers spotted a man hiding in the bushes near a golf course in the US state of Florida, where Trump was playing. The enforcers shot at the suspect, he dropped the Kalashnikov assault rifle and ran to his car, but was arrested. The perpetrator turned out to be a construction worker from Hawaii named Ryan Wesley Root.

Law enforcement officials called the incident another attempt on the ex-president's life. The first attempt to kill Donald occurred on July 13 during his speech to voters in Pennsylvania. Then the shooter hit Trump in the ear, killed one of the participants of the rally and wounded several people.

On the Polymarket platform, you can bet on whether the attacker acted alone or as part of a group of individuals. The vast majority of gambling members of the crypto community bet on a single person, so the probability of this outcome is 95%, and a successful bet on this event will bring only 5.4% profit. The bets will be calculated after the Secret Service and the FBI report the results of the investigation.

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Ethereum-kit realized some of the accumulated 16,636 ETH

An investor who bought 16,636 ETH for $87,135 in February 2016 has started to partially lock in profits.

According to EmberCN, the trader purchased the assets through the ShapeShift platform for $5.23 per coin about eight and a half years ago.

As of this writing, his accumulations are valued at approximately $38.2 million - 446 times “paper” profits.

On the night of September 16, the user began selling assets. According to onchain data, in a few hours he exchanged about 525 ETH in six batches of 87.5 ETH. For them, the investor received a total of ~$1.23 million ($2342 per coin).

Keith started making trades in parallel with the Ethereum exchange rate drop. Over the past day, the second most capitalized cryptocurrency fell from $2400 to $2280 - by 5.5%.

In addition, the ETH/BTC pair reached a 3.5-year low at below 0.04 BTC. Since the activation of The Merge update in September 2022, the drawdown has amounted to 53%.

Recall that in July, Whale, who bought 1 million ETH during the ICO, began transferring assets to OKX. Over the month, he sent 48,500 ETH to the platform at an average price of $3176

In April, an early Ethereum investor moved 1,069 ETH to the Kraken exchange.

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CZ will be released from prison on September 29th

Binance founder Changpeng “CZ” Zhao, who is currently serving a four-month prison sentence, will be released by the end of the month.

According to the U.S. Bureau of Prisons website, Zhao, also known as inmate 88087-510, will be released from custody on Sept. 29, 118 days after arriving at the low-security Lompoc II prison on California's central coast. He spent three months at Lompoc II before being transferred to a rehabilitation center in San Pedro, California, in late August.

Zhao was sentenced to four months in prison in April, five months after he pleaded guilty to violating the Bank Secrecy Act by failing to implement an adequate know-your-customer (KYC) program at Binance. As part of his guilty plea, Zhao also agreed to pay a $50 million fine and step down as CEO of the crypto exchange.

After Zhao resigned, Richard Teng - a former regulator in Abu Dhabi and Singapore - was appointed CEO of Binance. In addition to the charges against Zhao, Binance was also accused of violating U.S. sanctions and remittance laws and agreed to pay $4.3 million to settle the charges.

His fortune is estimated at $25.3 billion, according to the Bloomberg Billionaires Index. Zhao is believed to be the richest person ever imprisoned in the United States.

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Down 25% or up 55%: what to expect from Dogecoin (DOGE)

The price of Dogecoin (DOGE) has been declining for several months in a row. However, the descending wedge formed on the chart hints that a bullish reversal may be just around the corner.

Let's find out with the help of technical indicators and onchain metrics what to expect from DOGE in the coming weeks.

Dogecoin is leaning in favor of the bears

The current market sentiment around Dogecoin remains bearish. The difference between the market value and realized value (MVRV) on long and short positions - a key metric for assessing investor behavior - shows that sellers are in a more favorable position than buyers. This often indicates increasing selling pressure.

Analyzing the depth of the market shows that significant trading activity is taking place around $0.116. Previously, about 31.42 billion DOGE was bought at this level. Now there are approximately 75 million DOGE for sale.

Thus, $0.116 becomes a key resistance level for Dogecoin. Intense selling at this price level indicates that it is likely to continue to serve as a significant barrier.

DOGE price outlook: the rally is still a long way off

Dogecoin is currently trading at $0.105 within a descending wedge. To start a bullish reversal, the coin needs to consolidate at $0.108. If successful, the next target will be $0.118, a key resistance point that could open the way to further upside.

However, strong selling pressure at $0.116 could lead to a decline. If Dogecoin loses its current support at $0.094, its price could fall to $0.077, which would imply a 25% correction.

On the other hand, if Dogecoin is able to turn $0.108 into support, it could be the beginning of a breakout. In this case, the cryptocurrency has the potential to refute the bearish scenario and target $0.172 in the long term, which represents an upside of 55%.

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The Base blockchain has surpassed the Avalanche and Polygon networks in the number of transactions

According to analytics firm Nansen, Base has surpassed most of its competitors, including the Avalanche, Polygon and Cronos blockchains, in terms of the number of active users.

Currently, the number of active addresses in the Base network has jumped to a record high of more than 1.964 million. For comparison, the minimum recorded last year was only 196,000.

Another record indicator of Base is the volume of transactions. The number of transactions processed by the network exceeded 4.8 million, up from less than 300,000 recorded in January of this year.

Base's gains are particularly impressive against the backdrop of other blockchains' losses. For example, the number of active addresses and transactions on Avalanche has dropped by more than 50% from its highest level in 2024.

Base, which launched in 2023, is gaining popularity due to its speed and low fees. For example, as the number of transactions has increased, total fees have fallen from more than $2.3 million in March to the current $50,425. The network has earned just $57 million in commissions this year, while Ethereum and Tron have generated over $1 billion.

According to data from platform DeFiLlama, Base has about 348 decentralized applications deployed on the blockchain and its total blockchain value exceeds $1.57 billion, making it the sixth-largest network.

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Bitfarms will unscheduled increase bitcoin hashrate by 2.2 EH/s

Canadian mining company Bitfarms has entered into an agreement with Stronghold Digital Mining subsidiary Stronghold Digital Mining to accelerate the deployment of 10,000 Antminer T21s on a hosted basis.

It is expected that bringing the installations online in October will add Bitfarms 2.2 EH/s hash rate in bitcoin.

The equipment was originally intended for the company's data center in Iguazu, Paraguay.

“This hosting agreement represents an important milestone in our efforts to further optimize our assets and gain greater control over our main cost driver, the cost of electricity,” said Bitfarms CEO Ben Gagnon.

The parties are finalizing a $125 million takeover of Stronghold. The Canadian firm plans to leverage the U.S. company's power generation capabilities to expand into the AI computing segment.

According to the arrangements for the placement of miners, Stronghold will receive 50% of the revenue generated by the devices. Bitfarms will make an advance payment of $7.8 million based on three months of electricity costs.

Recall that at the end of August, public mining companies, including Bitfarms, reported a decrease in the production of digital gold.

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Solana's liquid steak business could grow fivefold to $18 billion

Solana-based liquid stacking has the potential to grow more than fivefold due to the steady growth in retail adoption.

Liquid stacking creates greater capital efficiency for investors by offering the equivalent of an initial staking token that can be deployed in other decentralized finance (DeFi) applications.

Bybit Research suggests that the increased capital efficiency in DeFi could lead to more than a five-fold increase in liquid staking on Solana.

“In our view, Solana has huge potential for liquid steaking because of its active steaking community. Based on Ethereum LST market statistics, Solana's LST market could potentially grow to $18 billion,” Bybit Research reported.

At the time of publication, Solana-based Liquid Stacking is valued at more than $3.8 billion in cumulative locked-in total value (TVL), according to DefiLlama, which translates to a nearly five-fold increase if it manages to surpass $18 billion.

Liquid stacking is already the largest protocol category on Ethereum with a cumulative TVL of more than $39.5 billion, compared to a cumulative lending market size of $30.9 billion.

The growing segment of the market has raised growing concerns about centralization, given that the $22.9 billion TVL Lido represents over 57% of the Ethereum liquid stacking market.

However, according to Bybit Research, these types of centralization risks are not necessarily a problem for Solana-based liquid stacking:

“In our view, the over-concentration from one Ethereum party will not recur in Solana as there are currently multiple players, as the report emphasizes. Lido's success has been attributed to its first mover advantage.”

Will retail investors be the catalyst for the growth of Solana-based liquid stacking?

According to a report by Bybit, retail investors could be the key to driving nearly five-fold growth in the Solana-based liquid stacking market with liquid stacking tokens (LSTs).

The report states:

“The major exchange-backed LSTs will break down barriers and become the de facto bridge between regular users and the DeFi capabilities in Solana. Bybit is the first exchange in the market to recently launch bbSOL LSTs on Solana.”

Retailers are likely to be attracted by the increased flexibility and liquidity within liquid stacking compared to regular stacking, where locked tokens cannot be re-deployed in other DeFi applications, the company added.

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Bitcoin mining difficulty hits another high

The mining difficulty of the flagship crypto asset has increased by 3.6% in recent times, setting a new record. This means that the mining environment is becoming increasingly competitive. The hash rate has also reached a new extreme at 693.84 exahes. Such a situation indicates that new miners have joined the network. Of course, the current situation directly affects industry companies as well.

For example, the organizations Marathon Digital and Riot Platform faced a sharp drop in the value of their shares. For example, since the beginning of this year, Riot Platform securities have lost over 50%. In order to withstand competition in the market, industry organizations are trying to optimize their costs and use more efficient equipment.

However, these measures become costly to implement at the initial stage. Relatively small companies cannot take this step, so they are forced to leave the industry. Given the fact that the complexity of mining is increasing, crypto miners often reconsider their financial strategies.

On the other hand, the increase in mining complexity and hash rate makes the network of the flagship crypto asset more secure. But at the same time, this situation requires a large financial outlay. Some experts, however, express concern. They believe that in light of the increased costs, many miners may leave. And this could already have a negative impact on the security of the network.

It's also worth noting that the growing resilience of the bitcoin ecosystem could attract more institutional investors. They will bring in new capital, which will favorably affect the long-term value of the main digital coin. It is also worth noting that bitcoin already shows a clear direct correlation with gold.

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Robert Kiyosaki: The dollar has become garbage - invest in bitcoin

The author of the book “Rich Dad, Poor Dad” said that he is concerned about the growing public debt of the United States. According to the entrepreneur and investor, the dollar is becoming worthless, which means it is urgent to buy bitcoin, gold and silver.

Robert Kiyosaki revealed that the US national debt is growing by $1.1 trillion every 100 days and servicing the interest costs taxpayers $1 trillion a year.

“While I want Donald Trump to win, it doesn't really matter much. The real issue is the $35 trillion US debt, which neither Trump nor Kamala Harris can handle. If you spent $1 per minute, it would take 31,688 years to use up $1 trillion. Simply put, we are in the shit. The dollar is garbage,” the writer stated in his tweet.

The entrepreneur and investor once again called on people to stop “hoarding fake money.” According to him, investors should invest available funds in the first cryptocurrency and precious metals. According to the writer, the recession is inevitable, and the world stock market “because of the illiterate policy of central banks” will make a very hard landing.

Earlier, Robert Kiyosaki told what benefit for bitcoin will bring Trump if he wins the US presidential election on November 4.

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Stephen Lubka: “Bitcoin price will reach six figures regardless of the outcome of the US election”

Director of the cryptocurrency exchange Swan Bitcoin Stephen Lubka expects the value of bitcoin to grow to six-digit values by 2025. At the same time, in his opinion, the growth of the first cryptocurrency does not depend on the results of the elections in the United States.

Steven Lubka said his prediction is based on his belief and analysis of bitcoin's historical price trajectory, which is more influenced by global fiscal and monetary conditions than any political events.

“I believe bitcoin's value will reach six figures by 2025. At the same time, it will arrive at this result regardless of who emerges as the winner in the presidential race,” Lubka said.

He emphasized that the recent institutional acceptance of the first cryptocurrency, which manifested itself in the launch of spot bitcoin ETFs, has further strengthened his optimistic forecast.

An alternative viewpoint is held by analysts at Bernstein. In their forecast of the market price of bitcoin, the experts noted that during most of 2024, the cost of bitcoin fluctuated in the range from $55,000 to $70,000 and investors should expect price stagnation of VTS, until the U.S. electorate will not choose the next president. At the same time, an election victory by a candidate from the ruling Democratic Party could cause the bitcoin price to fall to $40,000.

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Large investors started to act more actively on the background of BTC value growth

The flagship of the crypto market recently reached the round mark of $60,000. This provoked an increase in activity on the part of large investors. Recently, representatives of the analytical publication Lookonchain reported that an unknown whale transferred 205 BTC to the Binance platform for a total amount of $12, 4 sea. Experts have come to the conclusion that by doing so, the investor wants to lock in profits. Tentatively, he will receive a profit of $2.36 million.

As quotations approached the area of $60,000, there were more and more investors who decided to open sales. According to specialists, in the near future this may provoke a significant growth of volatility in the market. It is possible that soon bitcoin itself may once again face increased pressure from sellers.

Large transactions on the part of whales often make the market move unpredictably. On the one hand, they can lead to increased liquidity and market depth, which is a positive sign. On the other hand, a sudden influx of supply can put pressure on prices, especially if not absorbed by an equally strong demand.

To summarize, Lookonchain noted that bitcoin's approach to the $60,000 mark has led to strategic actions by major holders, potentially increasing volatility. Investors should keep a close eye on whale activity, as it often precedes significant changes in the market. While the immediate effect may be uncertain, understanding these movements can provide valuable insight into market trends and future price action.

Currently, the major digital coin is trading near the $60,000 round area. Over the past 7 days, the flagship of the crypto market has added about 11% in value.

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Cryptocurrency millionaire lost $43 million

Popular crypto millionaire James Fickel has lost more than $43 million in the market since the beginning of January this year. This happened against the background of the fact that his outstanding loan on the Aave platform exceeded the mark of $132 million. Fickel himself is considered one of the first investors in Ethereum. He also founded the Amaranth Foundation service.

According to Lookonchain, the investor expected ether to significantly strengthen its position against bitcoin this year. However, Fickel's expectations were not met. The fact is that since the beginning of 2024, Ethereum quotes have fallen relative to Bitcoin by almost 24%. So far, the investor is not eager to get rid of the losing trade. This indicates that he continues to believe in the steady growth of ether against bitcoin. It should be noted that Fickel invested about $400k in Ethereum back when its market value did not exceed $0.8.

Meanwhile, spot ether-ETFs continue to experience an active outflow of funds. Since their appearance, they have lost more than $581 mln. The lion's share of the total outflow fell on the fund issued by Grayscale. In fact, the forecasts of many experts were justified. Many experts assumed that Ethereum-ETF will not be able to repeat the success of similar investment products on bitcoin.

Meanwhile, the flagship of the crypto market continues to strengthen its position since September 7. Recently, its quotes have confidently reached the round mark of $60,000. According to a number of market researchers, if the price manages to gain a foothold above this level, it is very likely that the steady growth will continue. Bitcoin has added about 9.5% over the past 7 days. Ethereum is lagging behind in this regard, as the asset rose in price by a little more than 5%.

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Speculation surrounding the Ripple ETF has triggered a wave of FOMO

Investor sentiment around the performance of Ripple (XRP) has improved significantly amid the launch of the Grayscale trust.

The recent announcement has triggered a wave of rumors about the imminent arrival of XRP ETFs. Here's a look at how the rise in positive sentiment could affect the altcoin's price.

Ripple ETF may become a reality

On September 12, Grayscale, one of the world's leading digital asset managers, announced the launch of a trust on XRP in the United States. Following the announcement, the token's price jumped from $0.53 to $0.58.

Although the altcoin is trading around $0.56 at the time of writing, onchain data shows a significant increase in weighted sentiment. This metric helps to understand whether the market is leaning towards bullish or bearish sentiment towards the asset.

The recent rise suggests that previously cautious market participants are becoming increasingly optimistic about the future of XRP.

A historically high reading of this metric is often a precursor to a short-term price decline. If this trend continues, XRP could face a potential correction.

Network growth supports this prediction. Since Grayscale's announcement, the number of new addresses on the XRP Ledger (XRPL) has skyrocketed, indicating increased demand.

The number of new addresses with successful transactions, meanwhile, has decreased. This could mean that Ripple could lose much of its recent gains.

XRP price forecast: Imminent bearish reversal

Over the past 24 hours, the price of XRP has risen and outperformed other cryptocurrencies in the top 10. However, the Chaikin Money Flow (CMF) indicator on the daily chart is still showing negative values, hinting at sellers' dominance.

“Miracle Oscillator” is also in the minus despite the green bars on the histogram. Under such conditions, the price of XRP may drop to $0.52 in the near future.

However, if the bulls gather their strength, they can push the altcoin to $0.60.

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The SEC clarified the definition of securities for cryptocurrencies

The SEC has never considered specific tokens as securities, but has taken into account the full set of contracts, expectations, and arrangements for the sale of assets. The Commission stated this in an amended complaint against Binance.

“The SEC 'regrets any confusion' it may have caused by repeatedly falsely stating that tokens are themselves securities,” Coinbase general counsel Paul Grewal commented.

He noted that the agency categorized XRP as an investment contract in the first paragraph of its complaint against Ripple.

Stuart Alderoti, legal counsel for the California-based cryptocurrency company, criticized the SEC's clarification, comparing the agency's position to a “twisted salted pretzel.”

He said the Commission recognized that “crypto-active security” is a made-up term that requires gathering evidence.

He was disagreed with by attorney Fred Rispoli, who acknowledged that the SEC looks “pretty good” in this situation.

Prominent industry lawyer Jake Czerwinski supported Grewal, comparing the SEC's behavior to “extreme gaslighting.” Users in the comments reminded him that during the process he supported the agency's assertion regarding the classification of XRP as a security.

“Nice attempt to save face. But it demonstrates that they still can't grasp a concept too complex to understand offhand. Cryptocurrency tokens are mostly 'crowdfunding without equity'. A completely new idea,” noted the entrepreneur under the nickname Azure.

Recall, the current head of the SEC Gary Gensler expressed doubts about the need for cryptocurrencies and stated about their harm to the economy.

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Cardano's price could rise 40% despite the recent sale of 140 million ADAs

The price of Cardano (ADA) has been moving in a downward channel for the past five months. Despite some volatility, the cryptocurrency still holds potential for possible growth.

However, recent developments, including significant selling by large investors, raise questions about the altcoin's future dynamics.

Bullish signals for Cardano are emerging

Cardano's large investors are showing increasing skepticism towards the asset. Over the past few days, addresses holding between 10 million and 100 million ADA have sold approximately 140 million tokens worth more than $50 million.

While the move has raised concerns, similar whale actions in the past have driven the price higher. Large-scale sales by large investors often create potential buying opportunities for ordinary market participants.

Nevertheless, the overall mood in the market remains cautiously optimistic. Sales have contributed some pressure in the short term, but the long-term outlook suggests that declines caused by large investors could have the opposite effect on the price.

Against the rest of the market, Cardano continues to show strong momentum. This suggests that ADA can still make significant gains despite the short-term volatility.

ADA price outlook: continued growth

Cardano's price is approaching a breakout from the downtrending channel that has been holding it back for the past five months. The reaction to the key resistance level at $0.37 will determine whether the cryptocurrency manages to consolidate above its upper boundary.

If ADA successfully turns $0.37 into support, the altcoin's price could rise by 40% and reach $0.51.

However, a failed breakout attempt will lead to a drop to $0.34 or even $0.31.

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