Solana's (SOL) rise to $160 threatened by an aggressive whale

The recent actions of the Solana whale, which has pulled out of steaking and selling its assets on Binance, has raised concerns about the sustainability of the current SOL price rise

In the past, sales of the Solana whale have caused SOL to fall by double digits. We dissect whether history will repeat itself again, or whether retail investors will be able to protect the current price rise.

Whale Solana has decided to lock in profits

According to Solscan, the Solana whale recently took 100,000 SOL tokens out of steaking and transferred them to cryptocurrency exchange Binance. This comes just three days after the same investor withdrew 100,000 SOL tokens from steaking and transferred the assets to the same exchange.

Whale's decision to move his SOL assets to Binance is likely due to a desire to capitalize on the current price increase. The coin has risen in value by 9% over the past seven days.

However, this growth could face resistance if Whale continues to sell off. Historically, his sales have had a significant impact on the SOL price, as was the case between June 7 and July 7, when he dumped 1.2 million SOLs worth $178 million, causing the price to drop from $170 to $128.

Nevertheless, positive indicators still prevail. The Parabolic Stop and Reverse (SAR) indicator points below the SOL price, indicating a strong uptrend. In addition, the Chaikin Money Flow (CMF) indicator at 0.27 indicates high buyer interest and confirms the bullish bias on Solana.

SOL Outlook: Whale vs. the rest

Sustained buying pressure from other market participants may offset the impact of the whale's actions. If the bullish momentum continues, Solana could rise to the resistance level of $160.09. Successfully overcoming this critical level will open the way for SOL to reach $188.74.

However, if the whale continues to sell its assets for profit, history could repeat itself. In this case, the price may fall by 27%, to the neighborhood of $110.

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Americans are actively taking out loans secured by bitcoins and Ethereum

Employees of the financial company Ledn reported that commercial institutions in the United States have become active in issuing loans secured by cryptocurrencies.

US institutions are using Ledn's platform to approve loans secured by bitcoins and Ethereum (ETH). The loans are granted at a maximum of 13.4% per annum. This is quite low because the rate for loans taken out in the US with credit cards is as high as 28.4%.

In the first half of 2024, Ledn customers received $1.2 billion in loans secured by digital assets. The vast majority of loans were issued by financial institutions earning up to 10% APR.

To borrow money, Ledn users need to make a deposit in bitcoins or Ethereum worth 50% of the loan amount. In addition, customers of the service are offered to double their savings in BTC by using the B2X product, which allows them to borrow bitcoins against BTC collateral. Notably, transactions of $2,000 or more are automatically approved and digital assets are issued instantly.

According to the research company HFT Market Intelligence, the amount of outstanding loans issued against the pledge of bitcoins on all existing platforms reaches $8.5 billion. Analysts predict an increase in demand for this type of financial services and believe that by 2030 the value of loans received against the pledge of BTC will increase to $45 billion.

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Players can't sell their HMSTRs from Hamster Kombat

On September 26, trading of the token of the notorious game-clicker HMSTR from Hamster Kombat started. The tapalka coin appeared on several major exchanges at once

Against the backdrop of the coin's listing, reports from players who can't sell their HMSTR have appeared online. We tell you what's going on.

Participants of the tapalka game faced a problem. The fact is that the reward of many players in Hamster Kombat did not exceed a couple of dollars. Trading platforms have restrictions on the minimum order amount. For example, Binance, players complain, does not allow opening trades of less than $5. Therefore, players whose income does not meet the limits of exchanges, can not sell their rammed coins.

HMSTR rate, meanwhile, continues to fall. As a reminder, trading started at $0.01. As of the moment of writing the review, the coin has already fallen in price by almost 30%.

Many participants of the crypto community believe that the Hamster Kombat team unfairly distributed tokens. The fact is that some users bet on pumping the parameter accumulation of points per hour (PPH). However, before the snapshot, the project team introduced a new rule with the “anti-chit” system, because of which the key collectors were disqualified. Therefore, those who bet on PPH, without warning, found themselves out of airdrop.

According to users of the network, the developers took such a step in order to distribute as many coins as possible among the Influencers.

Those who were not disqualified were also unhappy with the result. Players complain about unreasonably low rewards.

“I played every day for 6 months to get $25. Now that's a gimmick. HMSTR, what the hell?”, writes one player.

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South Korean authorities fined Worldcoin $830,000

South Korea's Personal Information Protection Commission (PIPC) has fined crypto project Worldcoin and its developer Tools For Humanity 1.1 billion Korean won ($830,000) for alleged violations in the collection and transmission of personal data.

According to the PIPC, Worldcoin's management failed to properly notify its customers about the purpose of iris scans and the retention period of that data. The agency said Worldcoin Foundation never translated the consent form for biometric data collection into Korean until March 22.

Worldcoin Foundation was fined 725 million won ($545,000) for violations in handling sensitive information and transferring data overseas. Tools For Humanity (TFH) was also fined 379 million won ($285,133) for breaches of duty in transferring data overseas.

The regulator said Worldcoin Foundation and TFH did not inform South Korean users where their personal information was being transferred to, nor did they provide the name and contact information of the person receiving the data, and this violates local laws.

In addition, TFH did not conduct age verification for subscribers under the age of 14 until April 2024. PIPC added that it is not illegal to collect sensitive data in South Korea, but it must be done according to set rules. The regulator urged Worldcoin to rectify the deficiencies. TFH management said it has nothing against the fine imposed by the South Korean regulator.

“The PIPC investigation revealed weaknesses in disclosure during the initial launch of our crypto project in South Korea. The identified errors have now been addressed and TFH's operations, including the use of Orb verification to check for 'humanness', are in compliance with South Korea's Personal Information Protection Act,” TFH said.

Worldcoin resumed operations in Kenya in June, as local authorities found no regulatory violations in scanning users' facial images. However, Kenyan authorities urged Worldcoin to obtain a license to operate in the country.

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The market capitalization of the Popcat cryptocurrency has passed $1 billion

According to the latest data from the CoinMarketCap platform, the meme-based coin Popcat (POPCAT) on the Solana (SOL) blockchain has reached an important milestone - its market capitalization has exceeded $1 billion. This happened after the joke asset's exchange rate rose from a daily low of $0.8737 to the current price of $1.02.

Since January 2024, the popular POPCAT token has risen in value by more than 27,000%. Over the past seven days, the POPCAT exchange rate has increased by 50%, making it the third largest market capitalization of the meme-based coin on the Solana network.

According to data from aggregator site CoinGecko, the dogwifhat token (WIF) is in first place. Its market capitalization is $2 billion. The second in the ranking is BONK with a valuation of $1.3 billion.

Other coins based on memes on the Solana blockchain have also shown significant growth over the past 24 hours. Over the past 24 hours, the WIF joke asset has increased by 18%, BONK by more than 11%, MEW by 18.6%, and BOME by almost 11%.

The Solana cryptocurrency exchange rate is up more than 5% in the past 24 hours. At the same time, the price of the asset has increased by 16% over the past seven days. Now the SOL coin is trading above the $150 level.

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Inflows into crypto funds rose to $436 million

-- CoinShares experts have published a weekly report on capital flows in the crypto funds sector.
-- Between September 9 and September 13, an inflow of $436 million was recorded.
-- Bitcoin-based products attracted $436 million, Ethereum attracted $19 million in outflows.

In the period from September 9 to September 13, 2024, the inflow of capital in crypto funds rose to a mark of $436 million, the volume of trading amounted to $ 8 billion, according to the weekly report of CoinShares.

Experts noted that the sharp inflow of funds after a significant outflow in the past was caused by a significant change in market expectations regarding a possible reduction in interest rates by 50 basis points.

Among providers the most capital was withdrawn from the fund Grayscale Investments - $69 million. Fidelity has an inflow of $213 million.

As for the distribution of data by assets, bitcoin-based products were once again the leader in terms of inflows - $436 mln. Ethereum funds continued to experience an outflow of $19 mln. Bitcoin products that allow opening short positions also recorded an outflow of $8.5 mln.

At the regional level, most of the inflow came from the US market - $416 million. Countries such as Switzerland and Germany were also leaders - $27.1 million and $10.6 million respectively. In Canada and Sweden there was an insignificant outflow of funds.

Recall, from September 2 to September 8, 2024, the capital outflow from crypto funds amounted to $726 million, this withdrawal of funds was a record since March 2024.

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Vitalik Buterin names the benefits of Ethereum solo-stacking

Ethereum solo-staking is the key to security and decentralization of the network of the second most capitalized cryptocurrency. This was stated by its co-founder Vitalik Buterin, writes Cointelegraph.

According to the expert, single-stakers are an uncoordinated and diverse group that reduces the dependence on CEX. Even a small proportion of them can add an important decentralized layer of protection for Ethereum.

Buterin also addressed the role of solo-stakers in 51% attack scenarios. According to him, the key difference in them is the size of the attacker's control of the network: 50-56% or 57%+. In the second case, block finalization will become possible, which is fraught with the emergence of forks, he pointed out.

To make such attacks more difficult, the Ethereum co-founder suggested that the community raise the required block confirmation threshold from 2/3 to 3/4 or more of the blocked coins in the staking.

Earlier, Buterin announced a change in approach to mentioning L2 solutions. Starting next year, he will publicly talk only about projects at “stage 1+”.

Recall, in September, the co-founder of Ethereum said that he is not going to invest in Layer 2 networks or other projects.

For 11 years, solo miners have mined at least 329 blocks of bitcoin

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BNB may hit a high of $645.90

In recent days, Binance Coin has been moving sideways after a failed breakout attempt. Meanwhile, investors continue to open long positions on the cryptocurrency, expecting the price of BNB to rise soon

Let's see how the technical picture of BNB looks like now and whether we should wait for the cryptocurrency to rally in the near term.

Binance Coin in consolidation phase

Between September 6 and September 12, BNB actively tried to overcome the long-term support level at $560. However, the breakthrough failed, so by the time of writing the cryptocurrency continues to move sideways.

Meanwhile, the Chaykin indicator (CMF) reports that investor money is still flowing into BNB. The chart below shows that a bullish divergence has formed on the CMF chart. This means that the buying pressure on the asset is growing, but this growth is not reflected on the price yet.

In addition, the positive ratio of long and short positions on BNB, which currently stands at 1.04, reflects the community's bullish bias towards the asset. Such values indicate that now more and more traders are opening long positions, expecting to benefit from the growth of the asset's price.

Which five DePIN tokens are the best to invest in this September is told in a special feature.

BNB forecast: breakout above $598

At the time of writing this analysis, BNB is trading at $546, having lost a little over 2% in the last 24 hours. At the same time, the token has performed well over the past seven days and has added 8+% in value.

If BNB has enough strength to go from a sideways trend to an uptrend, the cryptocurrency will have a chance to rise above $560. Then the next important mark will be the resistance at $598, which was formed back in July. Since then, the token has tested this level three times, but all three times - unsuccessfully.

If the breakout attempt succeeds this time, BNB will have a chance to rise to a three-month high of $645.90.

However, if it fails, BNB risks a pullback to the support level at $468.90. This would cancel the bullish outlook.

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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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Tonkeeper will allow payment of commissions with the Hamster Kombat token

Starting October 1, non-custodial wallet Tonkeeper will add support for paying transaction fees on the TON network using Hamster Kombat (HMSTR).

This method is available through the built-in Battery feature. According to Tonkeeper chief strategy officer Daniel Kauri, it is a system “abstracted from the user interface that allows them to send transactions.”

“When a user is issued an HMSTR, they don't have Toncoin. Battery is a solution to that problem. You can top up Tonkeeper Battery with cryptocurrency on the TON network as well as through the App Store and Google Play,” Kauri told The Block in a comment.

The feature will be available once the network load is reduced due to the HMSTR airdrop. Users of Tonkeeper, Wallet and a number of exchanges have been facing problems due to an active influx of giveaway participants.

According to internal statistics, as of September 25, Tonkeeper has 34 million monthly active users, of which 8 million are active every day.

Recall, airdrop and listing of the Hamster Kombat token took place on September 26. The distribution involves 131 million users, among whom 75 billion coins will be distributed.

For three days, TON developers expect an increased load on the network.

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Justin Sun launches NFT Pump platform powered by Tron

Justin Sun's SunPump has unveiled a launchpad for digital collectibles in collaboration with token exchange trading platform APENFT.

The new platform expands the range of offerings for the viral token launch panel and fulfills a recent commitment made by Tron management.

SunPump teams up for NFT Launchpad

Justin Sun announced launchpad in a post on X (formerly Twitter). He mentioned the first-ever platform for the fair launch of NFT collections on the TRON network. The platform, dubbed NFT Pump, is live and available to NFT enthusiasts, hobbyists and professionals alike.

“This is the first time in the world that NFT + MemePump has been implemented on Tron,” the announcement reads.

Tron's CEO calls NFT Pump an honest, transparent and fun activity that goes beyond trading. He noted that all NFT trading commissions will go toward the buyback and burning of NFT.

“Tron needs its own, truly high quality NFT project. Honestly, if such a project materializes, I would trade my PFP for one of this project,” Sun shared at the time.

Read more: what is TRON (TRX) and how does it work?

The latest development reflects Sun's commitment to expanding the impact of Tron. It also allows SunPump, a Tron-based token generator, to regain popularity after weeks of fading. Other strategies already featured on flywheel include a special SUN airdrop exclusive to TRX owners.

Notably, the set of digital collectibles on NFT Pump includes images of famous celebrities. These include Ilon Musk, Donald Trump, Changpeng Zhao (Czech Republic) and Justin Sun, as well as animated characters and GIFs.

It is not yet known if the NFT pump will provide the same level of thrust or buzz as the SunPump. NFT's playing field continues to be marred by problems. As reported by BeInCrypto, 96% of NFTs are considered dead.

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Harris: US will dominate blockchain sector

-- Kamala Harris said the U.S. will “reaffirm its commitment” to global leadership in some sectors.
-- In particular, she mentioned blockchain.

Democratic presidential candidate Kamala Harris said during a speech at the Economic Club that under her leadership, the United States will “reaffirm” its global leadership in sectors that will define the next century.

She said the country will dominate in artificial intelligence, quantum computing, blockchain and other emerging technologies.

Under a post by CEHV Foundation managing partner Adam Cochran on X (formerly Twitter), one panelist argued that incremental changes in campaign rhetoric are not worth mentioning, let alone calling them progress. Cochrane responded:

“Utter nonsense. She's smart enough to know she can run for eight years. [...] She's very interested in US financial dominance and US technological superiority, but she can't get much from cryptocurrencies.”

Recall, earlier the media reported that Kamala Harris for the first time publicly commented on her attitude to crypto-assets. She promised to support this industry, as well as the AI sector, but at the same time to promote the protection of investors and consumers.

Also, the media recently reported that Kamala Harris' staff has no plans to develop a detailed policy for the cryptosphere until November. However, her team maintains an ongoing dialog with cryptocurrency companies.

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Hamster Kombat developers unveiled a roadmap for 2025

According to the roadmap presented by the Hamster Kombat clicker game team, next year the developers intend to launch a separate app and integrate payment systems into the project infrastructure.

The team plans to use advertising revenue to buy back tokens for further distribution, as well as add non-replaceable tokens (NFTs) to the ecosystem as in-game assets.

“The second season, which we plan to launch in the coming weeks, will seamlessly connect the platform's content with third-party games,” the developers said in a statement.

Hamster Kombat officials added that they will launch the game in new regions next year and introduce a web app for both PC and Apple and Android devices.

Earlier in Hamster Kombat told about the method of identifying users engaged in manipulation. One of the main tools was an automatic system for analyzing player behavior.

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Traders lost $170 million due to bitcoin's fall

Amid a drop in the price of bitcoin (BTC) below $59 thousand, the amount of liquidations in the cryptocurrency market has exceeded $170 million over the past 24 hours

Currently, the first cryptocurrency in terms of capitalization is trading at $58,989, having fallen in price by 2% over the past 24 hours. Ethereum (ETH), meanwhile, has slipped 4% to $2,317.

How much traders lost

According to Coinglass, the total amount of liquidations in the crypto market over the past 24 hours amounted to $170.46 million, of which $145.56 million came from long positions and $24.88 million from short positions.

Ethereum traders were the hardest hit on the market, losing $51.27 million. Bitcoin traders lost $33.98 million.

Most of the liquidations were distributed between Binance, OKX, HTX (formerly Huobi) and Bybit. The largest order was executed by OKX - the cryptocurrency exchange closed on a

Why BTC is falling

Bitcoin's fall is largely due to the widely anticipated meeting of the US Federal Reserve (Fed). This week, on September 18, the regulator will make a decision on the key interest rate.

Investors expect the agency to lower the rate by 50 basis points (bps) - the probability of such an outcome is 59%. At the same time, the market estimates the decrease by 25 bps at 41%.

Due to the lack of clarity ahead of the meeting, cryptocurrencies continue to experience turbulence.

Bitcoin forecast

According to experts, provided that the Fed lowers the key rate, bitcoin will grow. The outlook for monetary policy has even become the dominant short-term driver of the cryptocurrency, overshadowing events surrounding the US presidential race.

“The rate cut is less important than the signals during the press conference and the publication of the updated dot plot. If the guidance and press conference are significantly softer, we expect bitcoin to move upward,” said Arbelos Markets trading director Sean McNulty.

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Bitcoin kit woke up after almost 11 years of hibernation and transferred 43 BTC

-- Bitcoin-kit sent 43 BTC to another address.
-- The transaction fee was $2.9.
-- He mined the assets ten years and eight months ago.

On September 16, 2024, an unknown bitcoin whale sent 43 BTC ($2.54 million at the time) to another address. The transaction fee was $2.9. This is reported by Whale Alert.

It is known that the hodler of the first cryptocurrency did not transfer bitcoins for ten years and eight months. Judging by onchain data, the user received assets in November and December 2013.

Between 2020 and 2021, bitcoins worth up to $0.32 were sent to Whale's address. Notably, the fees for some transactions were $336.99 and $226.30.

The Whale Alert portal notes that the transfer took place in the middle of the day on September 16, 2024. At that time, bitcoin was trading near the $58,800 mark. If the hodler moved his assets for sale, his profit amounted to about $2.52 million.

Note, at the time of writing the first cryptocurrency is trading near the $58,600 mark.

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Ripple growth stalled: XRP price falls below $0.60

In recent days, the market's interest in Ripple (XRP) has been steadily waning, causing the altcoin's price to decline. The cryptocurrency has already slipped below several important technical indicators, which may indicate that the growth has stopped

Let's find out what's going on with Ripple (XRP) and whether to expect the cryptocurrency to resume growth.

New problems of Ripple

Market demand for Ripple peaked last Friday, September 13, but has been declining ever since.

According to Santiment, the number of active and new addresses for the token has decreased. Over the past three days, the number of wallets that have made at least one transaction with the altcoin has decreased by 18%. Meanwhile, the number of new addresses has also decreased by 8% over the same period.

A drop in network activity usually signals that market players' interest in a cryptocurrency is waning. In the case of Ripple, this turned out to be true, as the cryptocurrency's price began to decline along with the decrease in the number of active and new addresses.

As of this writing, XRP has sagged below the 20-day exponential moving average (EMA), which represents the average value over the past 20 days. Traders often identify this mark as a short-term support level, so a drop below it is taken as a signal of a weakening uptrend.

Besides, a breakdown below the 20-day EMA usually serves as a signal to close long positions and open short ones. In this case, traders expect a further fall in the price of cryptocurrency.

Can Ripple overtake bitcoin? Why XRP has chances to become more profitable than the main cryptocurrency of the market - read in our article.

XRP forecast: everything depends on the cloud

At the time of writing this analysis, XRP is trading at $0.5707, having lost about 2% in the last 24 hours.

The bullish trend on the cryptocurrency is weakening: this thesis is confirmed by the fact that the price of Ripple has fallen below the green line of the Ishimoku cloud. If the demand for Ripple does not grow, then the token risks falling below the red line of the cloud - it serves as a critical resistance level.

In case of a fall below the red line, the pressure of sellers may increase - then XRP will go into a “bearish” mode. In such a scenario, we can expect the altcoin to fall to the lows of August 5 at $0.38.

Nevertheless, if the market demand for Ripple grows, the cryptocurrency will get a chance to build up bullish momentum again: then a breakout above the green line of the Ishimoku cloud and above the 20-day EMA is likely. In the event that XRP overcomes the resistance at $0.60, it could also grow to $0.74....

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Salvadoran President Naib Bukele will present a debt-free budget for 2025

-- President Salvador Bukele expects to present the 2025 state budget without the planned deficit.
-- The 2024 budget had a $338 million deficit, and when Bukele became president in 2019, the gap was $1.2 billion.
-- In August, the International Monetary Fund announced that it had held a series of discussions with the Salvadoran authorities and “progress has been made in negotiations on a Fund-supported program.”

Salvadoran President Nayib Bukele said he would present a deficit-free budget for 2025 to the Legislative Assembly.

“I announce that on September 30 this year, for the first time in decades, we will present to the Legislative Assembly the first fully financed budget, without having to take on a cent of debt for current spending,” Bukele said Sunday during a celebration of El Salvador's 203rd anniversary of independence. “El Salvador will no longer spend more than it produces in a year,” he continued. “We will not even lend money to pay interest on the debts we inherited, we will even pay them out of our own production.”

“A stronger economy and a truly independent country will be seen, not only because it has more freedom and security, but because it will be financially independent, fiscally independent,” he added. “New generations will inherit an economically prosperous country.”

El Salvador's Finance Minister Jerson Posada detailed that “for the first time in decades, the country will have a budget that will not include a single cent of debt, local or foreign,” Diario El Salvador reported .

Buquelet has an overwhelming majority in the Legislative Assembly, with 57 of the 60 seats held by lawmakers from his New Ideas party (54) and its allies (3).

The 2024 budget deficit was $338 million, with total spending of $9.1 billion, according to an official document published by the Assembly. The budget deficit when Bukele took office in 2019 was $1.2 billion.

El Salvador cannot print money to finance spending since it introduced the U.S. dollar as legal tender in 2001. The country is known to have added Bitcoin as legal tender in 2021.

While there is no official documentation of El Salvador's Bitcoin purchases, NayibTracker , a website that compiled a portfolio based on Bukele's statements, shows that the Central American country currently holds 5,874 Bitcoins with a total value of $331.4 million, representing an unrealized gain of 32.6 percent or $43 million.

Last month, Bukele acknowledged that “Bitcoin T has gotten the widespread adoption we had hoped for ... it could have performed better and there is still time to make some improvements, but this T has resulted in nothing negative.”

In August, the International Monetary Fund announced that it had held a series of discussions with the Salvadoran authorities and “progress has been made in negotiating a Fund-supported program focused on policies to strengthen public finances, increase banks' reserve buffers, improve governance and transparency, and reduce Bitcoin-related risks.”

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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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