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Experts have recorded the “death” of the BTC halving cycle.
The worst performance of digital gold since the halving in April has “buried” the four-year cycle previously observed associated with this event, according to Ventures, The Block writes.
Experts urged investors not to count on the previously observed pattern. “The halving of the miner reward has no fundamental impact on Bitcoin and other digital assets,” the report says.
Experts urged investors not to count on the previously observed pattern. “The halving of the miner reward has no fundamental impact on Bitcoin and other digital assets,” the report says.
Crypto Traders' Losses Are Distorted. What Are Their Real Losses?
When cryptocurrency rates fluctuate sharply, analytical services record liquidations of traders' positions worth hundreds of millions of dollars. However, these data may have been distorted over the past few years.
The actual volumes of liquidations of trading positions on crypto exchanges are likely unreliable, and the volumes of this indicator are greatly underestimated, says Vetle Lunde, senior analyst at the crypto market research company K33 Research.
The actual volumes of liquidations of trading positions on crypto exchanges are likely unreliable, and the volumes of this indicator are greatly underestimated, says Vetle Lunde, senior analyst at the crypto market research company K33 Research.
What will happen to Bitcoin in the coming week?
Experts analyzed the situation on the market and explained how it could change in the coming week.
The past week on the cryptocurrency market turned out to be quite turbulent for Bitcoin and the entire crypto market as a whole. BTC traded in a wide range from $57,701 to $64,481, demonstrating high volatility. By the end of the week, Bitcoin had lost all of the previous week’s gains, falling 8.32% to $58,878. Ethereum (ETH) also showed an 8.39% decline in less than a week, falling to $2,516. Investors have still not recovered from the market crash of August 5, which continues to put pressure on the mood of trading participants.
The past week on the cryptocurrency market turned out to be quite turbulent for Bitcoin and the entire crypto market as a whole. BTC traded in a wide range from $57,701 to $64,481, demonstrating high volatility. By the end of the week, Bitcoin had lost all of the previous week’s gains, falling 8.32% to $58,878. Ethereum (ETH) also showed an 8.39% decline in less than a week, falling to $2,516. Investors have still not recovered from the market crash of August 5, which continues to put pressure on the mood of trading participants.
Why Bitcoin Fell. What Will Happen to the Cryptocurrency Market in September?
The fall in the BTC rate was accompanied by large sales in futures on the Binance exchange. As noted by the investment director and founder of the hedge fund Split Capital Zahir Ebtikar, even with the large-scale fall of the crypto market on August 5, such aggressive price behavior was not observed. In just over an hour, $1 billion worth of bitcoins were sold on the exchange, he noted in a post on the social network X.
"The upward trend continues"
The week started off relatively calmly, with a gradual recovery from the recent market crash on August 5. On Monday, BTC rose 1.73% to $59,438, and on Tuesday, there was a small correction of 0.71% to #59,013. Wednesday brought a more significant gain of 3.63% to $61,156, and on Thursday, the price continued to climb, increasing 1.28% to $60,375.
Tron Memcoin Platform Beats Main Rival
Token generator SunPump started earning more than PumpFun service on the Solana network. On August 21, 7531 tokens were launched on SunPump, and the daily income of the service amounted to 3.65 million TRX ($548 thousand at the rate on August 22), according to the analytical platform Dune.
PumpFun launched 6941 tokens, which brought in revenue of 2.57 thousand SOL (about $367 thousand). The PumpFun platform was launched on the Solana blockchain in the spring of 2024. It allows you to create and launch meme cryptocurrencies. The project turned out to be popular, in July it earned $28.73 million, the maximum daily income of the service was $864 thousand.
PumpFun launched 6941 tokens, which brought in revenue of 2.57 thousand SOL (about $367 thousand). The PumpFun platform was launched on the Solana blockchain in the spring of 2024. It allows you to create and launch meme cryptocurrencies. The project turned out to be popular, in July it earned $28.73 million, the maximum daily income of the service was $864 thousand.
80% of Traders Lost Money on Memcoins
Pump.Fun, a platform for creating memecoins on the Solana blockchain, has reached nearly $95 million in total revenue in the eight months since January 2024. As of early July, that figure was $52.2 million, according to DeFiLlama.
However, the platform's "successes" do not apply to all tokens created on Pump.Fun and its users. Over the entire period of operation, more than 1.82 million memecoins have been created using the service, according to the information panel on Dune, and the percentage of tokens that have entered the exchanges is within 1.4%, as reported by Adam Cochran, a partner at Cinneamhain Ventures, even fewer coins have maintained a capitalization above $10 million - only 15 pieces. Only 41 tokens have a capitalization above $1 million, according to cryptocurrency market analyst under the pseudonym Newton Einstein.
However, the platform's "successes" do not apply to all tokens created on Pump.Fun and its users. Over the entire period of operation, more than 1.82 million memecoins have been created using the service, according to the information panel on Dune, and the percentage of tokens that have entered the exchanges is within 1.4%, as reported by Adam Cochran, a partner at Cinneamhain Ventures, even fewer coins have maintained a capitalization above $10 million - only 15 pieces. Only 41 tokens have a capitalization above $1 million, according to cryptocurrency market analyst under the pseudonym Newton Einstein.
🪂 Fresh Airdrops
Puffer Finance launched the fourth quest on Galxe as part of the Explore UniFi campaign. To complete the task, you will need to interact with the project's social networks and complete a quiz. Answers: C, A, B, B.
Saakuru Protocol launched a campaign on Zealy with a prize pool of $500. To participate, you will only need to complete social activities.
Dogs: the project team presented the tokenomics. The total supply is 550 billion tokens, they also announced that the drop stamp will begin today, and the listing will take place on August 20.
Calamity: the project team launched a campaign with a prize pool of $1,000. To participate, you will need to level up to level 10 in the game, make a post in X with a screenshot of your level and the project tag, and then send a link to your post to the creative thread in the project's Discord.
Linera: launched the OdysseyX campaign on Intract. Users are promised unique roles in Discord, NFTs, and other rewards in the future. At the moment, only social tasks are available.
Puffer Finance launched the fourth quest on Galxe as part of the Explore UniFi campaign. To complete the task, you will need to interact with the project's social networks and complete a quiz. Answers: C, A, B, B.
Saakuru Protocol launched a campaign on Zealy with a prize pool of $500. To participate, you will only need to complete social activities.
Dogs: the project team presented the tokenomics. The total supply is 550 billion tokens, they also announced that the drop stamp will begin today, and the listing will take place on August 20.
Calamity: the project team launched a campaign with a prize pool of $1,000. To participate, you will need to level up to level 10 in the game, make a post in X with a screenshot of your level and the project tag, and then send a link to your post to the creative thread in the project's Discord.
Linera: launched the OdysseyX campaign on Intract. Users are promised unique roles in Discord, NFTs, and other rewards in the future. At the moment, only social tasks are available.
Who is Satoshi Nakamoto?
Who is considered the creator of Bitcoin, how the first cryptocurrency was developed.
Who is Satoshi Nakamoto: At the moment, it is not known for certain who is behind the development of Bitcoin. There are many guesses, in particular, several candidates for the role of the creator of the cryptocurrency. However, all of them lack irrefutable evidence.
Who is Satoshi Nakamoto: At the moment, it is not known for certain who is behind the development of Bitcoin. There are many guesses, in particular, several candidates for the role of the creator of the cryptocurrency. However, all of them lack irrefutable evidence.
What are trading bots and how are they suitable for working with a crypto exchange?
Most of the trades on global exchanges are carried out using algorithmic trading. This means that specialized programs automatically search for opportunities to make a profit, buy and sell in a split second. In most cases, it is the bots that trade with each other.
🪙 TRON ecosystem has launched a platform for meme tokens called SunPump
• The project is directly related to TRON founder Justin Sun. In an interview with CoinDesk, he noted that SunPump carries out thorough vetting of projects before they are launched on the platform, which ensures that they meet certain standards of fairness and transparency.
• In addition, the statement emphasizes that the new service intends to compete with a similar platform PumpFun, which is based on Solana.
• The project is directly related to TRON founder Justin Sun. In an interview with CoinDesk, he noted that SunPump carries out thorough vetting of projects before they are launched on the platform, which ensures that they meet certain standards of fairness and transparency.
• In addition, the statement emphasizes that the new service intends to compete with a similar platform PumpFun, which is based on Solana.
☕️ While Everyone Was Sleeping:
Donald Trump's Earnings on NFTs: According to a new financial report, former US President Donald Trump has earned more than $7 million selling his NFT collections.
Accusations against Facebook: The Australian antitrust regulator said that 58% of cryptocurrency ads on the Facebook platform are fraudulent. Meta rejected these accusations, calling the data outdated and unreliable.
Possible Changes in Mining Taxation: IMF experts have proposed increasing the cost of electricity for cryptocurrency miners by 85%, which could significantly affect the industry.
Donald Trump's Earnings on NFTs: According to a new financial report, former US President Donald Trump has earned more than $7 million selling his NFT collections.
Accusations against Facebook: The Australian antitrust regulator said that 58% of cryptocurrency ads on the Facebook platform are fraudulent. Meta rejected these accusations, calling the data outdated and unreliable.
Possible Changes in Mining Taxation: IMF experts have proposed increasing the cost of electricity for cryptocurrency miners by 85%, which could significantly affect the industry.
"This Will Be a Trend." Why Is Crypto Hygiene Important?
"Dirty" cryptocurrencies are assets stolen from crypto exchanges or used in illegal activities. During criminal investigations, such assets are tracked and marked, which allows their movement and the addresses to which they are sent to be seen later.
💳 Metamask crypto wallet
to launch debit card
Mastercard
Visa and Mastercard are competing in the development of crypto payments, entering into partnerships with various services and wallets. MetaMask, the largest crypto wallet by number of users, will issue a blockchain-based payment card together with Mastercard and fintech company Baanx. MetaMask Card will initially be available to several thousand users from the European Union and the UK, according to the wallet developer ConsenSys. By the end of 2024, the company plans to increase the number of cards issued, as well as expand their coverage to other regions. According to the developers, MetaMask has an audience of more than 30 million active users monthly.
The crypto card will work like a regular debit card, but will allow you to make purchases using digital assets stored in the MetaMask wallet. As stated on the website, users will be able to spend cryptocurrencies such as USDC, USDT, and WETH stored on the Linea second-layer network. At the time of payment, the tokens will be automatically converted into national currencies to complete the transaction.
to launch debit card
Mastercard
Visa and Mastercard are competing in the development of crypto payments, entering into partnerships with various services and wallets. MetaMask, the largest crypto wallet by number of users, will issue a blockchain-based payment card together with Mastercard and fintech company Baanx. MetaMask Card will initially be available to several thousand users from the European Union and the UK, according to the wallet developer ConsenSys. By the end of 2024, the company plans to increase the number of cards issued, as well as expand their coverage to other regions. According to the developers, MetaMask has an audience of more than 30 million active users monthly.
The crypto card will work like a regular debit card, but will allow you to make purchases using digital assets stored in the MetaMask wallet. As stated on the website, users will be able to spend cryptocurrencies such as USDC, USDT, and WETH stored on the Linea second-layer network. At the time of payment, the tokens will be automatically converted into national currencies to complete the transaction.
What is Web3: The Future of the Decentralized Internet in Simple Words!
To understand Web3 in more detail, it is worth starting with the basics. First of all, it is important to understand that the Web and the Internet are not the same thing. The Internet connects computers around the world, and the Web is the tool that allows this to happen.
Web1, 2, 3 - what's the difference?
Initially, the first version of the Web, created by Tim Berners Lee, was a "read-only" network. This means that any content could be obtained via the Internet, although previously this required a TV or radio. At that time, resources with ads, catalogs, etc. were popular. To respond to them, the user had to go to a separate page and send their comment via an email client. Web1 is remembered for the "dot-com bubble". Then people realized the enormous prospects of Internet technology, and startups related to this technology opened everywhere. Many companies were significantly overvalued and, as a result, were unable to bring profit to investors. In the 2000s, most of these startups closed, but those that survived this period became IT giants (eBay, Amazon, Yahoo! and others).
Web1, 2, 3 - what's the difference?
Initially, the first version of the Web, created by Tim Berners Lee, was a "read-only" network. This means that any content could be obtained via the Internet, although previously this required a TV or radio. At that time, resources with ads, catalogs, etc. were popular. To respond to them, the user had to go to a separate page and send their comment via an email client. Web1 is remembered for the "dot-com bubble". Then people realized the enormous prospects of Internet technology, and startups related to this technology opened everywhere. Many companies were significantly overvalued and, as a result, were unable to bring profit to investors. In the 2000s, most of these startups closed, but those that survived this period became IT giants (eBay, Amazon, Yahoo! and others).
🚨 SEC Accuses NovaTech:
The US Securities and Exchange Commission (SEC) has charged the co-founders of NovaTech with organizing a financial scheme that is a cryptocurrency pyramid. According to the SEC, this scheme allowed the organizers to attract investors' funds in the amount of $650 million.
According to the regulator, NovaTech attracted investors by promising significant profits from investing in cryptocurrency assets. The company's total client base numbered about 200,000 people worldwide. Instead of receiving real income, users received partial payments that were financed by funds from new investors.
The US Securities and Exchange Commission (SEC) has charged the co-founders of NovaTech with organizing a financial scheme that is a cryptocurrency pyramid. According to the SEC, this scheme allowed the organizers to attract investors' funds in the amount of $650 million.
According to the regulator, NovaTech attracted investors by promising significant profits from investing in cryptocurrency assets. The company's total client base numbered about 200,000 people worldwide. Instead of receiving real income, users received partial payments that were financed by funds from new investors.
🏦 Financial giant Morgan Stanley may come under scrutiny from US regulators due to its decision to promote spot BTC ETFs to its clients, warns former SEC chief John Reed Stark.
“By allowing its team of 15,000 brokers to promote spot BTC ETFs, Morgan Stanley has effectively initiated a process that could lead to the largest investigation in history by the SEC and FINRA,” Stark noted.
He emphasized that employees of these regulatory bodies will have full access to all internal correspondence related to the sale of spot BTC ETFs to retail investors. According to him, detecting violations in such conditions will be no more difficult than fishing in a barrel.
“By allowing its team of 15,000 brokers to promote spot BTC ETFs, Morgan Stanley has effectively initiated a process that could lead to the largest investigation in history by the SEC and FINRA,” Stark noted.
He emphasized that employees of these regulatory bodies will have full access to all internal correspondence related to the sale of spot BTC ETFs to retail investors. According to him, detecting violations in such conditions will be no more difficult than fishing in a barrel.
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