The new week is set to bring significant developments for the world of BTC and altcoins. On September 16, 2024, several major events and crucial updates will occur. Here are the details:

Important Updates for These Altcoin Projects

Arbitrum (ARB): On September 16, 2024, Arbitrum will unlock approximately 2.65% of its tokens. This process, scheduled for 13:00 UTC, will release a significant portion of Arbitrum’s circulating supply. Token unlocks like this can impact the market, as the introduction of new tokens may affect supply and demand dynamics.

Binance Coin (BNB): From September 9 to September 16, 2024, BNB is conducting a validator block voting session. This vote is crucial following the BSC Bohr Upgrade, which proposes increasing the block count per validator to four. Such technical updates aim to enhance blockchain efficiency and stability, contributing to a more reliable network.

Zero1 Labs (DEAI): On September 16, 2024, Zero1 Labs will begin trading on Gate.io at 11:00 UTC. This listing provides broader access for investors and can positively influence the token’s liquidity and market value.

Boba Network (BOBA): On the same day, Boba Network will activate its Granite hard fork at 07:00 UTC on Boba Sepolia and Boba BNB Testnet L2s. Hard forks generally introduce new features or improvements, potentially boosting the blockchain’s performance.

1inch (1INCH): From September 16 to 18, 2024, 1inch will hold a major announcement and event series. This will kick off on September 16 at 14:15 UTC, with a significant statement from co-founder Sergej Kunz. Such events help strengthen community ties and introduce project innovations.

DeFi Kingdoms (JEWEL): From September 13 to September 16, 2024, DeFi Kingdoms will conduct public PvP game tests. This allows players to try new game features and offer valuable feedback.

Neutron (NTRN): Between September 2 and September 16, 2024, Neutron will hold liquidity migration votes. These votes will affect the NTRN/axl.USDC and NTRN/ATOM pairs, influencing liquidity pools and market flow.

Synthetix Network (SNX): On September 16, 2024, governance council members will be elected via voting. Such votes ensure community involvement in decision-making processes.

Casper Network (CSPR): From August 16 to September 30, 2024, Casper will run a migration campaign for the Torus wallet. Users must migrate before the deadline to avoid access issues.

Oasis Network (ROSE): From August 9 to October 9, 2024, Oasis Network is hosting a 60-Day TEE Campaign. This includes Twitter Spaces, live workshops, and other community events.

Ari10 (ARI10): Between April 20 and October 17, 2024, Ari10 plans to burn a total of 180 million ARI10 tokens. Token burns reduce supply, potentially increasing market value.

Render (RENDER): Between November 1 and October 23, 2024, RNDR tokens will undergo a migration process to become RENDER tokens. Early adopters will be rewarded based on a point system.

As September 16, 2024, approaches, these altcoin projects face key events that could impact their market performance. From token unlocks to governance votes and major upgrades, the developments of this day could shape the trajectory of these projects moving forward.

Avalanche (AVAX) is expanding into traditional finance, with ParaFi Capital planning to tokenize a portion of its $1.2 billion assets on the blockchain. This development aligns with AVAX’s growing momentum, as price movements suggest a potential for higher gains.

Technical Analysis Signals a Bullish Outlook for AVAX

On the daily chart, AVAX is consolidating within a falling wedge pattern. Analysts believe that breaking the $28 level could push the price toward $50, representing a potential gain of over 104%.

However, if AVAX fails to break past the $28 resistance, it may retreat to lower support levels. The weekly chart shows the completion of a second correction wave and a rising flag formation. Now, analysts expect a third bullish wave that could reach the 0.618 to 0.786 Fibonacci levels.

On-Chain Metrics and Ownership Distribution

On-chain metrics also support a positive outlook for Avalanche. The amount of staked AVAX has increased by 6%, the total value locked (TVL) in DeFi has risen by 11%, and stablecoins on the Avalanche blockchain have surged by 13%. These factors reflect growing confidence in the network.

Ownership distribution has remained relatively stable, with retail ownership rising by 4.38% and investor ownership increasing by 12%. Although whale ownership saw a minor 6% decline, the overall trend remains bullish, backed by strong price action.

Investor Behavior and RSI Indicator

An analysis of Avalanche token holding periods reveals a 5% increase among long-term holders. There is a slight decrease among those holding for one to twelve months, while daily traders remain active but hold AVAX for shorter periods, contributing to on-chain activity.

The RSI stands at 59, indicating a neutral market, while the stochastic RSI is at 81, suggesting overbought conditions. However, an overbought signal does not always indicate a reversal; if other indicators do not show bearish signs, it could suggest continued bullish momentum. This is viewed as a positive signal by traders anticipating further price increases for AVAX.

With these bullish signals, AVAX appears to be preparing for a price surge. Increased staking, rising TVL, and growing investor confidence all support an upward trend. Analysts suggest that breaking through resistance levels could result in significant gains for AVAX.

After months of decline, Bitcoin could be gearing up for a significant rally. Several analysts are forecasting that the cryptocurrency may surpass $92,000 within the next three months.

Historical Charts Show Positive Signals

According to the well-known analyst Titan of Crypto, Bitcoin is currently retesting a critical support level on the weekly chart. He suggests this could create an opportunity for the price to soar beyond $90,000.

“In previous cycles, when the price retested the 50-week simple moving average, there was at least a 40% bounce. The average bounce was 71%. If Bitcoin were to rise by 71% from here, it would reach $92,000,” said Titan of Crypto.

On September 14, Bitcoin surpassed the psychological level of $60,000, marking the first time this had occurred since August 30. This came after a more than three-month decline, offering new hope to investors.

Bitcoin’s Historical Performance in September

According to data from CoinGlass, September has historically been a weak month for Bitcoin. With an average return of -4.69%, it stands out as the month with the worst performance. However, the months following September typically show a strong rally.

In October, Bitcoin has delivered an average return of 22.9%, followed by 46.8% in November, and 5.4% in December. November, in particular, has historically been the second-best performing month for Bitcoin.

Analysts Warn: Last Chance to Buy Before the Next Bull Run

Popular crypto trader Mags believes that the current correction could represent the last chance to buy Bitcoin before the next major rally.

“Bitcoin gives three major buying opportunities before a parabolic rise. The last one comes right after the halving. This could be your last chance to buy Bitcoin cheap,” said Mags.

Anonymous on-chain analyst Checkmate echoed similar sentiments, noting that Bitcoin is in the same position as its previous two bull cycles.

“Bitcoin is at exactly the same point as in the previous two cycles since its bottom. It perfectly captures the psychological time investors need to recover from a bear market,” stated Checkmate.

However, some analysts warn that Bitcoin’s current “anxiety phase” in September suggests the potential for further decline. The next upward movement may be triggered by the Federal Reserve meeting on September 18.

Analysts suggest that based on historical data and current charts, Bitcoin is poised for a significant rise in the coming months. Investors are advised to closely monitor the market and assess potential risks during this period.

In a breaking announcement, cryptocurrency exchange Binance has listed UXLINK on its futures platform, causing quite a stir in the market.

Interestingly, UXLINK was already experiencing a surge prior to this listing news. Following the announcement, the altcoin has continued its upward trajectory, gaining more than 27% in value over the past 24 hours. Despite not being listed on Binance’s spot market, this latest move aligns with Binance’s recent strategy of listing non-spot altcoins on the futures platform. This approach seems to be a tactic for Binance to reclaim market share from competing exchanges.

What is UXLINK?

With a market capitalization of around $70 million, UXLINK is already listed on prominent centralized exchanges such as OKX, Upbit, and Bybit. A token within the Arbitrum ecosystem, UXLINK is focused on the concept of a social decentralized exchange (DEX) and aims to drive the widespread adoption of Web3 social media platforms.

The listing of UXLINK on Binance Futures is a significant development for the altcoin, bringing increased visibility and liquidity to the project. The surge in value following the listing reflects growing investor interest and optimism surrounding UXLINK’s future potential.

Binance’s Strategy with Non-Spot Altcoins

This isn’t the first time Binance has adopted this approach of listing an altcoin on the futures platform without it being available on the spot market. By focusing on futures listings, Binance has the potential to attract more sophisticated traders looking to leverage positions and tap into market movements. In doing so, Binance is also reestablishing itself as a leader in the fast-paced cryptocurrency trading market, competing with other exchanges like OKX and Bybit.

Why UXLINK?

UXLINK’s connection to the Arbitrum ecosystem is significant, as Arbitrum is known for its scalability and low transaction costs, making it an attractive option for developers and users within the decentralized finance (DeFi) and Web3 spaces. UXLINK’s focus on decentralized social media platforms comes at a time when the demand for censorship-resistant and user-owned content is growing. This thematic focus could position UXLINK as a key player in the evolving Web3 landscape.

As UXLINK continues to gain momentum, its listing on Binance Futures could further solidify its position within the crypto space, offering traders and investors more opportunities to engage with the token.

With this surprise listing on Binance Futures, UXLINK has captured the attention of the crypto community. Binance’s evolving strategy of listing non-spot altcoins exclusively on its futures platform is proving effective, allowing the exchange to offer more diverse trading opportunities. For UXLINK, this could be a turning point, with the token gaining both visibility and value as it moves forward in the ever-expanding Web3 ecosystem.

Justin Sun, the founder of Tron (TRX) and a prominent figure in the crypto space, has recently voiced strong criticism of Coinbase’s Bitcoin equivalent, cbBTC.

In a recent statement, Sun questioned the transparency and decentralization of cbBTC, specifically pointing out the lack of proof of reserves and the absence of audits.

Sun also claimed that Coinbase has the ability to freeze balances at any time and raised concerns about the centralization risks inherent in cbBTC. He stated, “cbBTC lacks Proof of Reserves, has no audits, and can freeze anyone’s balance at any time. This is essentially just a matter of ‘trusting us’.” Sun further suggested that the U.S. government could potentially seize all related Bitcoin with any court subpoena.

Referring to cbBTC as a “central bank Bitcoin,” Sun’s criticism comes amid growing discussions about his involvement in the Wrapped Bitcoin (WBTC) governance.

He concluded his criticism by emphasizing the stark contrast between Bitcoin’s principles and what cbBTC represents:

“There is no more absurd combination than bringing together central banks and Bitcoin. I believe this is a day Satoshi Nakamoto could never have imagined when he created Bitcoin.”

In the ever-evolving world of cryptocurrency, new speculations surface daily. Recently, Bitcoin’s (BTC) inability to break through expected price levels has led to a variety of theories, especially on social media platform X. One of these theories claims that large investors are manipulating the Bitcoin market.

The IOU Method and Its Impact on Bitcoin’s Price

According to this theory, crypto exchange Coinbase isn’t providing Bitcoin directly for BlackRock’s Bitcoin ETF. Instead, it’s issuing IOUs (I Owe You) that grant BlackRock the right to receive Bitcoin at a future date. This means BlackRock isn’t buying actual Bitcoin, but rather an entitlement to receive it in the future.

This situation is allegedly reducing the demand pressure in the market, preventing Bitcoin’s price from rising. The theory suggests that since large investors aren’t purchasing real Bitcoin, demand remains artificially low, thus keeping the price suppressed. This has led to accusations that market price movements are being manipulated.

Is Market Manipulation a Reality?

Supporters of the theory believe that major players like BlackRock are exerting downward pressure on the market. If large investors are entering the market with purchase rights instead of actual Bitcoin, it would have no immediate impact on demand. As a result, Bitcoin’s price would remain stagnant. However, there is no concrete evidence to support these claims just yet.

On the other hand, some experts dismiss these claims as mere speculation. They argue that the real reason behind Bitcoin’s price stagnation lies in the uncertainty surrounding the U.S. economy and fears of a potential recession. With global economic fluctuations pushing investors away from risky assets, Bitcoin’s price is being negatively impacted.

Market Realities and Bitcoin’s Future Direction

There are several factors affecting Bitcoin’s price beyond these speculations. The threat of a recession in the U.S., global uncertainties, and shifts in investor sentiment are also contributing to the price suppression. Furthermore, confidence in cryptocurrency is inherently tied to macroeconomic factors, making it inevitable that such conditions would affect prices. As such, Bitcoin investors should avoid focusing solely on speculations and take a broader view of the situation. Economic indicators, overall market conditions, and investor confidence play key roles in shaping price movements.

The Role of Whales and Their Market Influence

Given these circumstances, a more cautious and comprehensive approach should be taken when assessing Bitcoin’s future price movements. As reported by The Bit Journal, Bitcoin’s current stagnation could be due to a multitude of factors. While the IOU speculation is interesting, it alone does not fully explain why Bitcoin’s price remains under pressure.

In recent weeks, the crypto markets have seen significant activity from whale investors. Particularly noteworthy is the surge in interest around the popular meme coin SUNDOG, which operates on the TRON network. Whale activity has driven a substantial price increase, capturing the attention of investors, as the meme coin market continues its volatile growth.

Whale Activity in Meme Coin Market Raises Eyebrows

According to Lookonchain, whale purchases of SUNDOG have accelerated. The data provider revealed on September 14 that one whale made a single transaction worth $2 million, buying a large quantity of SUNDOG. This transaction triggered a sharp rise in the coin’s price, which surged by over 40% in just one week. Another whale soon followed, purchasing $500,000 worth of SUNDOG, further boosting the coin’s upward momentum.

A whale bought another 10,000 $SOL($1.37M) and staked 11 hours ago!

In the past month, this whale has bought and staked a total of 50,000 $SOL($6.85M), generating 174 $SOL($23.7K) in rewards.https://t.co/1YCSgze4nv pic.twitter.com/X2p4hatV5e

— Lookonchain (@lookonchain) September 14, 2024

A key factor behind SUNDOG‘s rise is Justin Sun, founder of the TRON network, who launched the SunPump platform to promote meme coins. SunPump has helped drive price action, attracting more investors to SUNDOG. The whales’ large-scale transactions through this platform have positively influenced both the coin’s price and overall market sentiment. As a result, many smaller investors are closely monitoring whale activity to adjust their strategies accordingly.

Solana Also Attracts Whale Interest

It’s not just meme coins that are catching the eye of whales. Lookonchain reported that during the same period, Solana (SOL) has also been a target for major whale purchases. One whale recently bought 10,000 SOL worth $1.37 million and staked the assets. This same whale had previously purchased 50,000 SOL last month, reaping significant rewards from staking.

These developments highlight how whale interest in assets like Solana and SUNDOG is influencing price action. Large transactions like these often lead to short-term price movements in the crypto market, which can have a ripple effect across the board.

Solana Hits New Milestones! What Are the Top SOL Alternatives?

Whale activity plays a crucial role in shaping price trends in the crypto market. Smaller investors are advised to keep a close eye on whale movements, as these can be major drivers of market direction. As seen with SUNDOG and Solana, whales’ interest can lead to significant price changes. Their influence on the market becomes more pronounced every day, especially in the case of meme coins, where such activity can dramatically shift both market sentiment and price trends.

Crypto analyst Ali Martinez has issued a crucial warning about the future of Bitcoin (BTC). According to Martinez, Bitcoin is currently facing a highly critical resistance level that could determine the direction of its price in the near future.

Bitcoin at a Critical Level for Further Gains

According to Martinez, Bitcoin is now trading near a major resistance zone. He highlighted that approximately 1.52 million major investors bought around 770,000 BTC between $59,885 and $61,625, making this zone a crucial turning point. If Bitcoin can break through this resistance, the analyst predicts the next target could be $64,300.

Analyst Warns: Don’t Sell Your Bitcoins! Here’s Why

However, Martinez also cautioned that failure to break this resistance level could trigger a downward scenario. Should Bitcoin fail to surpass this critical zone, the price could drop as low as $57,235, he warned. Martinez advised investors to be cautious, stressing that they need to prepare for both possible outcomes.

BTC Trading Volume and Price Movement

Martinez provided insight into Bitcoin’s current trading volume as well. Typically, a rising price trend in Bitcoin should be accompanied by increased trading volume. However, at the moment, Bitcoin’s trading volume is in decline. This indicates, according to Martinez, that the price trend has not yet fully reversed, and the cryptocurrency has yet to enter a sustained bullish trend.

In addition, the analyst pointed out that 17 large wallets holding more than 1,000 BTC have either sold their assets or redistributed them over the past two weeks. These moves suggest that major investors are uncertain and cautious about the price direction, with their actions potentially having a significant impact on the market.

Bitcoin and Ethereum Outflows Raise Concerns

Recent data shows that over the past week, $2.6 million worth of assets have been withdrawn from Bitcoin and Ethereum. This outflow reflects large investors’ cautious approach toward risks in the crypto market. Martinez believes that these outflows could put downward pressure on Bitcoin’s price in the short term. He also emphasized that the broader crypto market is feeling the effects of these moves.

Major Bank Makes a Bitcoin and Ethereum Move! Germany Selling BTC

Whether Bitcoin manages to break through this critical resistance level will define the short-term movements in the market. According to Ali Martinez, Bitcoin’s fate hinges on this level. The analyst warns that either a bullish or bearish trend will be determined by how the market reacts to this resistance, urging investors to proceed with caution. As reported by The Bit Journal, the crypto market is known for its volatility, and investors should be mindful when making decisions in such conditions.

The volatility in the altcoin market shows no signs of slowing down, and even large-scale investors, often referred to as “whales,” are feeling the pinch. In a recent and high-profile move, a whale has reportedly suffered a substantial loss on a significant Maker (MKR) investment, causing a stir in the crypto world. After holding the position for 50 days, the investor exited at a significant loss.

Whale Takes a Major Hit on Maker Investment

On-chain analytics platform Lookonchain reported that the whale had purchased 1,100 MKR tokens on July 27, paying a hefty sum of $2.91 million. At the time, the price of Maker stood at $2,643, representing a sizeable investment in the token.

Lost $1.13M in less than 50 days!

This trader bought 1,100 $MKR($2.91M) at $2,643 on July 27 and deposited it to #Biance at $1,613 5 hours ago to sell, resulting in a $1.13M loss (-40%)!https://t.co/L5iM7RjHRx pic.twitter.com/10OVuGc2ZQ

— Lookonchain (@lookonchain) September 14, 2024

However, just 50 days later, the whale faced a significant downturn. The investor moved the MKR tokens to Binance and executed a sale when the price had dropped to $1,613. This sharp decline led to an approximate $1.13 million loss, or around 40% of the original investment. Although the whale likely hoped for a recovery, the downward trend forced them to cut losses and sell.

Altcoin Market Remains Fragile Despite Signs of Recovery

While the broader crypto market has shown signs of gradual recovery, the situation for altcoins remains challenging. Bitcoin (BTC), for instance, has been inching closer to the $60,000 mark, buoying optimism across the board. Several altcoins have followed suit, showing signs of recovery after extended downturns.

Yet, despite these positive movements, many altcoin investors remain in the red. This whale’s loss only highlights the fragility of the altcoin market, where even large investors can be caught off guard by sudden price swings. Analysts at The Bit Journal suggest that such events could continue to weigh on the altcoin market’s performance.

Large Sales Could Push Maker Price Down Further

According to Lookonchain, the whale’s massive sell-off had an immediate effect on Maker’s price, which dropped by 2.6% within 24 hours to $1,615.99. If similar large-scale sales continue, it’s possible that Maker could face even more downward pressure. The impact of these sales may ripple through the altcoin market, affecting the confidence of other big investors.

Ethereum Whales Taking a Cautious Approach

While some large investors are selling at a loss, others, particularly those invested in Ethereum, appear to be adopting a more cautious strategy. The Bit Journal experts believe that these large investors are waiting for more favorable conditions before making any major moves. Whether this is a sign of things to come in the broader market remains to be seen.

Future Prospects for the Crypto Market

As the crypto market shows early signs of recovery, questions remain about the future of Maker and similar altcoins. While some experts are optimistic, the recent sell-off by a whale raises concerns about the stability of the recovery. Big sales, like the one witnessed, could continue to exert pressure on prices, making it essential for investors to closely monitor market conditions.

For those invested in Maker or other altcoins, staying vigilant and tracking market movements is more critical than ever. The volatile nature of the market, coupled with the actions of large investors, could determine the direction of prices in the coming weeks.

The Ethereum ecosystem comprises dozens of Layer-2 (L2) blockchains, each regularly unlocking millions of dollars’ worth of its native tokens. These significant unlock events can create substantial selling pressure, potentially leading to price drops over time as private investors look to sell off their assets. In this context, crypto expert Vinicius Barbosa highlights two tokens to watch out for due to their upcoming unlock events.

Pay Attention to Arbitrum and Starknet Unlock Events!

According to TokenUnlock data, two popular Ethereum L2s are set to unlock around $100 million worth of tokens this week. Notably, Arbitrum (ARB) and Starknet (STRK) are responsible for $74.69 million out of the $116.86 million in tokens set to be released from 13 different cryptocurrencies over the next seven days starting from September 14. This represents a 2.7% and 3.6% increase in circulating supply for ARB and STRK, respectively.

Specifically, Arbitrum will unlock 92.65 million ARB tokens worth $49.17 million by September 16, making it the leader in this week’s unlocks. Meanwhile, Starknet will release 64 million STRK tokens valued at $25.52 million by September 15, placing it among the key altcoin projects that traders and investors should keep an eye on.

The Ethereum Layer-2 Scaling Debate

In 2018, Ethereum creator Vitalik Buterin argued that the future of cryptocurrencies would depend on Proof-of-Stake (PoS) and Sharding. Buterin noted that blockchain technology with PoS and sharding would become thousands of times more efficient, making the trade-offs of storing assets on a blockchain increasingly acceptable.

However, Ethereum’s core development has shifted from this vision toward layered scaling solutions after struggling for years to implement functional sharding technology. Meanwhile, other blockchains, such as MultiversX (EGLD), have successfully implemented all three types of sharding. Justin Bons, the founder and CIO of Europe’s oldest crypto fund, described this achievement as “the technological Holy Grail of crypto” during a discussion hosted by Laura Shin on Unchained.

Repeated Unlocks and Inflation Risks in Arbitrum (ARB)

As mentioned by Justin Bons, the tokenomics of Ethereum L2s often face conflicting financial incentives. Private allocations from VCs, who are compelled to sell at higher prices, have their tokens unlocked through vesting contracts. Bons described this dynamic as “predatory” and highlighted how Arbitrum has suffered from repeated unlock events leading to monthly losses. For instance, the 92.65 million ARB tokens unlocked in June were valued at $85.37 million, while July’s unlock was worth $65 million, resulting in 42% and 24% losses, respectively.

Disclaimer: The views and predictions mentioned in this article are those of the expert and do not constitute investment advice. The Bit Journal encourages readers to conduct their research before investing.

In a recent official statement, Binance has raised alarms about malicious software targeting its users, changing their withdrawal addresses. The platform’s security team is actively blocking and reporting these addresses, but traders must remain vigilant when copying their wallet details to avoid falling victim to this fraud.

Major Malware Attack: Binance’s Urgent Announcement!

As reported by The Bit Journal, the crypto space has seen a growing number of fraudulent activities, making caution essential for users. Since August 2024, sophisticated malware has been targeting Binance users, specifically altering withdrawal addresses from crypto wallets. When a user copies the withdrawal address from their wallet, the malware replaces it with the fraudster’s address. Binance’s official warning stated:

“We have identified a global malware issue that alters withdrawal addresses during the transaction process. Be especially cautious of extensions and apps on Android and web-based platforms, and remain vigilant on iOS as well. Our security team is closely monitoring this situation and actively blacklisting suspicious addresses.”

If users fail to notice the change and complete the transaction, the cryptocurrency is sent to the scammer’s wallet, potentially resulting in a financial loss that cannot be recovered. According to Binance researchers, this malware is often spread through unofficial applications and browser extensions, especially on Android and web platforms.

Countermeasures and User Precautions

Many users unknowingly download these malicious apps while searching for software in their native language or bypassing legal restrictions in their region through unofficial channels. Binance’s security team has implemented several measures to mitigate the effects of this malware campaign. They have been blacklisting suspicious addresses, reporting the fraudsters to law enforcement, and notifying potentially affected users with warnings.

Beware: “Pig Butchering” Schemes Already in Play

Binance is urging its users to verify the authenticity of the apps and browser extensions they download. Moreover, double-checking the exact withdrawal address before confirming transactions is highly recommended. To further safeguard against address alteration, Binance suggests taking screenshots of wallet details before finalizing withdrawals.

Adding to the danger, a new fraud campaign has emerged in the comments section of the announcement. Scammers are targeting victims of the withdrawal address changes by offering help through fake websites. They misuse Binance’s logo and branding, instructing users to “revoke approvals” from their in-browser wallets. It’s essential to note that Binance, as a centralized exchange, has no involvement with smart contract approvals. This “revoke Binance approval” scheme is a classic example of a “pig butchering” playbook, preying on those who have already been defrauded.

Protect Yourself

As malware campaigns grow more sophisticated, crypto users must exercise extreme caution. Binance’s ongoing efforts to protect its users demonstrate the need for diligence in securing personal data and staying informed about the latest threats.

Born between 1997 and 2012, Gen Z, currently aged 12 to 27, is starting to have a significant financial impact, and their distinct behaviors are set to reshape the future of the finance sector. A recent report by Bernstein analysts highlights how this generation’s financial habits could drive the evolution of financial markets in the coming years.

Gen Z Rapidly Moving Away from Traditional Financial Systems

Unlike previous generations, Gen Z shows a strong preference for digital and decentralized financial solutions. Survey data from leading crypto exchanges like Coinbase reveal that young individuals find traditional banking systems to be expensive, slow, and outdated. This dissatisfaction is pushing them towards alternative financial options that offer greater efficiency and lower costs.

A FINRA survey emphasized this trend, showing that 55% of Gen Z investors in the U.S. prefer to invest in cryptocurrencies, marking a significant shift away from traditional assets and towards decentralized, government-independent options. Their inclination towards crypto is not just about investment, but also about how they manage their finances daily.

The Bernstein report further explains that Gen Z prefers to manage their finances on-chain rather than using conventional online banking systems. They find existing digital banking platforms cumbersome and unclear, leading them to seek out decentralized finance (DeFi) applications and stablecoins pegged 1:1 to the U.S. dollar. This shift towards on-chain financial management reflects Gen Z’s desire for greater transparency and control over their financial transactions.

At the same time, stablecoin adoption among Gen Z is rapidly increasing, with nearly 27 million active wallets processing stablecoin payments on-chain each month. Progress in blockchain technology, especially in scaling, now enables cross-border transfers of up to $1,000 for fees of less than $0.10, making cryptocurrencies even more attractive. Currently, about $160 billion worth of stablecoins are active on blockchain, and the integration of AI agents is expected to introduce new stablecoin payment models, further increasing their use and appeal.

Gen Z’s Shift May Challenge Traditional Finance

While institutional investors have traditionally been cautious of cryptocurrencies, Gen Z’s growing interest may lead to a reevaluation of the capital opportunities within the crypto market. As Gen Z, alongside millennials (currently aged 28 to 43), continues to build household wealth, their combined financial management approaches will play a significant role in shaping the future of financial markets.

Over the next decade, as Gen Z becomes a more prominent part of the financial ecosystem, we may see the rise of new markets tailored to their preferences for speed, cost efficiency, and decentralized control. This generational shift presents both challenges and opportunities for traditional banks and brokerage firms that have long managed the wealth of older generations like the Baby Boomers. Adapting to Gen Z’s preferences will be crucial for financial institutions looking to stay relevant in an increasingly digital and decentralized financial landscape.

Ark Invest has published a warning report suggesting that investors in U.S. spot Bitcoin exchange-traded funds (ETFs) may currently be incurring losses. According to the company’s August Bitcoin monthly analysis, the average cost basis of participants in these ETFs surpassed Bitcoin’s market price by the end of August. This indicates that typical ETF investors might be in a negative financial position.

U.S. Spot Bitcoin ETF Investors Are in the Red

Ark Invest’s assessment is based on data collected since the launch of U.S. spot Bitcoin ETFs in January 2024. The company used a flow-weighted average price method to calculate the cost basis, considering the volume and timing of investments into these ETFs. This approach provides a more accurate representation of the average investment cost for ETF participants over time.

The report noted, “The estimated cost basis of U.S. spot ETF participants was higher than Bitcoin’s price at the end of August” and added, “This discrepancy suggests that the average investor holding these ETFs could be facing losses under current market conditions.”

Ark Invest’s findings highlight a bearish outlook on the short-term performance of U.S. spot Bitcoin ETFs. If Bitcoin’s price remains stagnant or continues to decline, the gap between the cost basis and the market price may widen, leading to further potential losses for investors. This scenario underscores the inherent risks associated with investing in crypto-based financial products, especially in volatile market environments.

Bitcoin’s Price Is the Key Factor

The launch of U.S. spot Bitcoin ETFs in January 2024 was intended to provide investors with a regulated and accessible tool to invest in Bitcoin without holding the asset directly. However, Ark Invest’s latest report has raised concerns about the profitability and sustainability of these investment vehicles in the current market climate.

Industry analysts emphasize that the performance of spot Bitcoin ETFs is closely tied to the price movements of the underlying asset. As a result, fluctuations in Bitcoin’s price significantly impact ETF investors’ returns. Ark Invest’s bearish stance may influence investor sentiment, potentially affecting capital inflows and outflows from these ETFs.

Ark Invest’s analysis offers a cautious perspective on the future of spot Bitcoin ETFs in the U.S. Investors are urged to closely monitor the market and Bitcoin’s price trends as they navigate the risks associated with these funds. With the current market dynamics in play, it remains to be seen how Bitcoin’s price movement will shape the future performance of these ETFs.

Recently, the spotlight in the cryptocurrency market has turned to XRP. After a major announcement from Grayscale Investments, XRP surpassed leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). However, not everyone is optimistic about this rise. Notable crypto trader Sensei has openly criticized XRP, calling it a “shitcoin.” So, is XRP’s surge here to stay, or is it just another bubble?

Sensei’s Harsh Criticism of XRP

Sensei, a well-known figure in the crypto world, has drawn attention with his outspoken views on social media. In his latest tweet, he expressed serious doubts about XRP’s future. He pointed out that XRP’s market dominance has fallen from 32% in 2017 to just 1.5% today, and he believes XRP will miss out on the next bull run. Referring to Bitcoin’s past performance, Sensei argued that XRP has a low chance of delivering long-term gains to investors.

One of the most striking aspects of his critique was calling XRP a “useless shitcoin.” So, how valid are Sensei’s harsh words? Should XRP investors really reconsider their positions?

$XRP went from 32% to 1.5% dominance in 7 years.

Who still buying this useless shitcoin ? pic.twitter.com/Ce7E0KPBzS

— Sensei (@SenseiBR_btc) September 13, 2024

Will XRP’s Price Continue to Rise?

Although Sensei’s criticism is harsh, XRP has faced similar skepticism before and still provided significant returns to investors. In particular, between 2016 and 2017, there was similar doubt about XRP’s potential. However, XRP shocked its critics by rising 110,233% from its lowest point in January 2017 to its all-time high in January 2018. This historical performance suggests that XRP may have more surprises in store.

Grayscale Investments and XRP’s Recent Rise

As reported by The Bit Journal, XRP’s recent price surge is closely tied to Grayscale Investments launching its XRP Trust. This development followed the resolution of the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Grayscale’s move is seen as the first step toward creating an XRP-based ETF, which could potentially bring significant capital inflows and drive XRP’s price higher.

XRP recently hit $0.588, marking a three-week high. While it has since slightly dipped to $0.5820, the token is still up 3.4%, and its market capitalization has reached $32.8 billion. These figures suggest a growing positive sentiment among XRP investors.

Critical Questions for Investors

XRP’s current rise has sparked mixed reactions from investors. On one side, analysts like Sensei express doubts about XRP’s long-term potential, while on the other, investors see Grayscale’s involvement as a sign of major future growth. The critical question for investors is: Is XRP a long-term investment opportunity or just a bubble waiting to burst?

The performance of any cryptocurrency is subject to various factors. Given XRP’s strong track record, it wouldn’t be surprising if it delivered significant gains again. However, in such a highly volatile market, careful analysis is always crucial before making any investment.

 

Bitcoin (BTC) has only witnessed a rate cut cycle in the U.S. once before in its history, and this rare occurrence is sparking curiosity among investors. According to Steno Research, falling interest rates in the U.S. can have significant impacts on the cryptocurrency market. Now, as analysts expect a new rate cut cycle, they are making predictions about how Bitcoin might respond.

Bitcoin’s 2019 Rate Cut Cycle

As The Bit Journal previously reported, when Bitcoin faced rate cuts in the U.S. back in 2019, investors experienced high volatility. During that time, the U.S. Federal Reserve (FED) decided to lower interest rates, and Bitcoin saw a 15% decline in its value. From the FED’s initial rate cut in August to a 75-basis-point reduction by November, Bitcoin’s price fluctuated significantly.

How Will Bitcoin and Altcoins React to the New Rate Cut?

However, when the global COVID-19 pandemic hit in 2020, the stimulus measures acted as a lifeline for Bitcoin. Following the global stimulus, Bitcoin surged rapidly. This shows that rate cuts can have a complex and dual-sided effect on Bitcoin’s price.

What to Expect from the New Rate Cut Cycle?

All eyes are now on the upcoming Federal Open Market Committee (FOMC) meeting on September 18. Analysts predict that the FED will reduce interest rates by at least 25 basis points during this meeting. Market expectations show a 54% probability of this happening. Additionally, following the Consumer Price Index (CPI) report, there is a 46% chance of a 50-basis-point reduction.

Steno Research suggests that lower interest rates could have positive effects on U.S. stocks and corporate credit, which could indirectly benefit the cryptocurrency market. However, investors with no high-return expectations may prefer to stay away from riskier digital assets like Bitcoin. Thus, the size and timing of the rate cut will play a crucial role in determining Bitcoin’s future performance.

Steno Research’s Views on Interest Rates and Bitcoin

Steno Research emphasizes that interest rates have a direct impact on Bitcoin. High interest rates typically drive investors toward safer assets. When rates are at 5%, investors generally avoid riskier digital assets with uncertain returns. This results in reduced demand for cryptocurrencies like Bitcoin.

However, if interest rates fall, investors tend to seek out riskier assets. Therefore, lower rates usually lead to a positive impact on the cryptocurrency market. Steno Research’s Principal Component Analysis (PCA) model also supports this view, showing that lower interest rates help Bitcoin and Ethereum prices recover.

Bitcoin’s Future: What Will Happen After the Rate Cut?

Investors are now wondering how Bitcoin will behave after the next rate cut. It is possible that Bitcoin could regain upward momentum following the cut. However, market dynamics and global economic developments will also play a significant role in shaping the outcome. Both positive and negative fluctuations are possible in the cryptocurrency market.

In conclusion, the relationship between Bitcoin and the rate cut cycle is complex. While analysts suggest that lower interest rates could boost Bitcoin’s price, investors should remain cautious. Market conditions can change rapidly, and strategic moves will be crucial during this period.

For more updates on the impact of rate cuts on Bitcoin, stay tuned to The Bit Journal.

Ethereum (ETH) has been facing significant challenges recently and is in urgent need of positive signals to regain investor interest. CryptoQuant analysts highlight that for Ethereum to sustain its growth, there needs to be a clear shift in investor sentiment. While the market is currently filled with uncertainty, strong indicators could positively influence Ethereum’s price performance.

What Ethereum Needs for Parabolic Growth

CryptoQuant analysts suggest that for Ethereum to experience parabolic growth, support from the futures market is essential. They argue that when the perpetual ETH contracts funding rate exceeds 0.015%, Ethereum’s price could surge rapidly. Once investors surpass this critical level, their confidence in Ethereum will increase, potentially sparking a broader market recovery.

New Projects Could Drive Ethereum’s Surge

In addition to technical data, analysts emphasize that Ethereum needs exciting new projects to drive growth. Developers need to introduce innovations that will reignite investor interest. Those looking to evaluate Ethereum’s future potential should keep a close eye on these developments. Thus, the expansion of Ethereum’s ecosystem will play a critical role in its growth.

Why Investors Are Turning to Altcoins

Many investors have shifted their focus from Ethereum to altcoin projects that offer higher short-term gains. While this shift has reduced Ethereum’s market share, altcoins continue to capture the attention of investors due to the opportunities they present. For Ethereum to stay competitive, it must continue developing innovative projects that meet market demand.

Additionally, traditional investors have yet to fully grasp Ethereum’s potential. More education on Ethereum and smart contracts is necessary to increase its adoption globally. As awareness grows, Ethereum is likely to attract a broader range of investors.

The Future of Ethereum: Will It Overtake Bitcoin?

Some major investors remain optimistic about Ethereum’s future. Figures like Nick Tomaino predict that by 2029, Ethereum could surpass Bitcoin in terms of market value. While this view highlights Ethereum’s long-term potential, for these predictions to come true, Ethereum must address its current challenges and respond more swiftly to market demands.

Will an Ethereum ETF Boost Its Price?

Developers need to focus on launching innovative projects to capture the attention of investors. By adopting the right strategies, Ethereum can regain investor interest and strengthen its position in the market. These developments could further intensify Ethereum’s competition with Bitcoin, and possibly even push it to the top in terms of market value. Investors should closely monitor the market to gauge Ethereum’s growth potential.

For the latest updates and analysis on Ethereum’s future, follow The Bit Journal.

The U.S. Securities and Exchange Commission (SEC) continues to expand its regulatory steps in the crypto world. In its ongoing legal battle against Binance, one of the largest cryptocurrency exchanges globally, the SEC aims to classify more tokens as securities. This move has caused significant turbulence in the crypto market, potentially impacting the future of many investors and companies. In its latest statement, the SEC has declared popular altcoins like Axie Infinity (AXS), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), and Decentraland (MANA) as securities.

SEC vs. Binance: The Battle Intensifies

As previously reported by The Bit Journal, the SEC’s lawsuit against Binance initially began in June. The regulatory body accuses Binance and its U.S. subsidiary BAM Trading of facilitating the trading of tokens considered unregistered securities. Although Binance has long denied these allegations, the SEC’s latest move is likely to increase pressure on the exchange. The updated legal documents from the SEC, especially the classification of these altcoins as securities, have caused a stir.

This development could have a significant impact on the U.S. crypto market. Securities are subject to much stricter regulations, making it harder for investors to buy and sell these assets. The crypto world, which thrives on decentralization and minimal regulation, faces uncertainty as companies and investors scramble to navigate these new rules.

The SEC claims that Binance actively promoted these tokens to customers, emphasizing potential investment returns. It also alleges that Binance attracted investors by highlighting the high returns of these tokens while failing to comply with legal requirements. Additionally, the SEC accuses Binance of operating illegally as an unregistered exchange, broker, and clearinghouse. The lack of transparency regarding the risks and legality of these tokens on Binance’s platforms is also a key point in the SEC’s argument.

AXS, FIL, ATOM, SAND, and MANA Declared Securities

The declaration of Axie Infinity (AXS), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), and Decentraland (MANA) as securities has caused uncertainty among major players and investors. These tokens gained significant popularity in recent years and became top choices for many investors. However, the SEC’s decision could complicate their trading in the U.S. market.

This new regulation by the SEC has led to substantial turmoil in the crypto space. Many investors are concerned about the future of these assets, while companies are rushing to comply with legal frameworks. It remains to be seen how major exchanges like Binance will respond to this regulatory challenge.

Challenges for Binance and Other Exchanges

Despite Binance denying the SEC’s allegations, the legal battle could seriously impact the company’s future. Binance, with millions of users globally, has long been a leader in the crypto exchange space. However, the SEC’s strict measures could make it difficult for Binance and other exchanges to operate in the U.S. market. Gary Gensler, Chairman of the SEC, has consistently advocated for tighter regulation of the crypto market. Gensler believes that many crypto assets should be classified as securities and subjected to stricter oversight to protect investors.

The SEC’s latest move clearly reflects Gensler’s stance. This action may not only affect Binance but also other major crypto exchanges. Many of these platforms trade tokens that could be classified as securities, potentially leading to similar legal challenges. As a result, the market faces a period of uncertainty, with investor confidence in these exchanges possibly being shaken.

For further updates on this unfolding situation, follow The Bit Journal.

Binance has taken another significant step in the crypto world by adding Catizen, a Telegram-based gaming project, to its Launchpool platform. This move, which introduces the CATI token as the 59th project on Launchpool, has generated substantial excitement. The cat-themed game bot, hosted on Telegram, has captured the attention of both gamers and crypto investors alike. The announcement has also sparked discussions about the potential impact of this addition on CATI’s price performance.

Binance Launchpool Announces Catizen

Starting on September 16, 2024, Binance will offer users the chance to earn CATI tokens through its Launchpool by staking BNB and FDUSD. The staking period will last four days, and the CATI token will be available for trading on September 20, 2024. Users will be able to trade CATI with USDT, BNB, FDUSD, and TRY.

A Telegram-Based Game with Crypto Rewards

Catizen stands out as an innovative, cat-themed game bot that operates on Telegram’s mini-app platform. The project allows users to earn crypto while playing, and Binance’s support for such Telegram-based projects is gaining attention. The addition of Catizen to Binance’s platform has caused a stir in the crypto community, fueling expectations about the token’s potential performance in the market. Binance previously listed another Telegram-based game, Hamster Kombat (HMSTR), on Launchpool, signaling the exchange’s growing interest in this space. With Binance backing such innovative projects, CATI token could see a positive momentum in the market.

Expectations for CATI’s Price

Historically, projects featured on Binance Launchpool have often experienced price increases when they hit the market. Early access incentives and community excitement typically lead to significant price movements during the initial trading days. Many investors are predicting a similar rise for the CATI token.

The cat-themed, game-focused nature of CATI aligns with a growing trend in the crypto space, where gaming cryptocurrencies are rapidly gaining popularity among both investors and gamers. The fact that CATI token will be listed on Binance, the world’s largest crypto exchange, adds to the anticipation. Binance’s announcement that it will be the first platform to list CATI has also warned investors about potential fake tokens. When launched, CATI will have a total supply of 1 billion tokens, with 305 million CATI (30.5% of the total supply) entering circulation initially.

During the Launchpool period, users will have the opportunity to earn 90 million CATI tokens as rewards. Of this, 76.5 million tokens will be allocated to the BNB pool, while the remaining 13.5 million tokens will go to the FDUSD pool. This process aims to broaden awareness and adoption of the CATI token.

For the latest updates on CATI and other crypto news, follow The Bit Journal.

In a notable move, crypto whale James Fickel has made headlines by converting 5,000 Ethereum, worth approximately $11.3 million, into 204.8 Wrapped Bitcoin (WBTC) over the past six days. This transaction occurred at a rate of 0.041 ETH/BTC, signaling a strategic shift in Fickel’s trading approach as the ETH/BTC trading pair continues to decline.

From Ethereum to Bitcoin

Once known for his bullish stance on Ethereum (ETH) against Bitcoin (BTC), Fickel’s recent actions reflect a significant change in his outlook since August 11. Instead of holding a long position on ETH/BTC, Fickel has shifted his strategy, selling off a large portion of his ETH holdings.

In the past month, Fickel has swapped 15,000 ETH worth $37.4 million, along with $12 million in USDC, for 841.7 WBTC at an average price of $58,659 per WBTC, totaling $49.4 million. This move was a strategic decision aimed at repaying a loan on the decentralized finance (DeFi) platform Aave, showcasing a cautious approach to managing his debt amid market volatility.

Currently, Fickel holds a debt balance of 2,236 WBTC, equivalent to roughly $130 million.

Reacting to the ETH/BTC Decline

Fickel’s recent actions mirror a broader trend among large investors responding to the falling ETH/BTC trading pair. Many whales have been swapping ETH for WBTC to hedge against further declines in the pair, indicating a potential shift in sentiment among big Ethereum holders who are looking for safer positions.

These moves have caught the attention of market observers, as the trading behavior of high-net-worth crypto investors often sets the tone for broader market trends. By reducing his exposure to ETH and increasing his BTC holdings, Fickel appears to be mitigating potential downside risks associated with the bearish outlook on ETH/BTC.

For more insights on the evolving strategies of crypto whales and the latest developments in the crypto markets, stay tuned to The Bit Journal.

The UK High Court has delivered a groundbreaking ruling, declaring Tether (USDT) as property under English law. This decision marks a significant step in clarifying the legal status of cryptocurrencies in the UK.

Tether (USDT) Recognized as Property

As uncertainty persists over the legal classification of cryptocurrencies, this ruling is the first in English law to fully adjudicate the status of a digital asset. The UK High Court ruled that Tether (USDT) is classified as property, granting it rights similar to other forms of tangible property.

In his judgment, Deputy High Court Judge Richard Farnhill stated, “USDT has property rights under English law.” He further added that USDT is traceable and can form a trust asset like other property.

Case Background

The case was brought by Fabrizio D’Aloia, who claimed to be the victim of a cryptocurrency scam. D’Aloia alleged that £2.5 million worth of USDT had been stolen from him, laundered through various exchanges and mixers, and sent to a specific wallet on the BitKub exchange in Thailand.

While the court acknowledged the fraud, it found insufficient evidence to determine that D’Aloia’s USDT was sent to the specific wallet on BitKub, due to the use of mixers that complicated the tracing of funds.

Implications for the Crypto Industry

This ruling is seen as a major development in defining the legal framework for cryptocurrencies in the UK. Recognizing Tether (USDT) as property means that crypto assets could now have more robust legal protections under English law, opening up the potential for further regulatory advancements.

For more in-depth updates and the latest developments in the cryptocurrency space, stay tuned to The Bit Journal.