• Fear invades the cryptocurrency market with the latest news of the liquidation of the assets that still remain in the possession of the FTX exchange.

• Although many expect cheap prices, some assets have appreciated in recent days, giving surprises to few who still do not understand how to do digital marketing.

• Scientific data continues to monitor the cryptocurrency market and shows signs of low liquidity and low volume, but suggests that there will still be a rally and improvement in capitalization.

Futures Premium Call For Binance

Distribution Price For Binance Coin (BNB) Could Hit A Record Low Soon 📉🐻.

Many traders must recognize that the cryptocurrency market is going through a weekly correction and that is why sentiment varies between neutral and bearish. 

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Coinbase Capitalizes One More

VeChain (VET) and VeThor Token (VTHO) tokens took off in the market 6.5% and 51%, in the last week, according to the last CriptoNoticias report.

In the case of VET, its price seven days ago was USD 0.015, while at the time of writing this article it is USD 0.016. This is a token used to vote on governance proposals on the VeChain network.

The rise of these two tokens is due to the fact that they were incorporated into the American Coinbase exchange (the second largest in the world), today, September 13.

Ethereum With Little Bullish Interest

According to @joao_wedson Ethereum is currently under the scrutiny of investors and traders due to a concerning metric: the Estimated Leverage Ratio (ELR).

This indicator, which calculates the relationship between Open Interest and Exchange Reserves, provides crucial insights into the state of the cryptocurrency. At present, Ethereum's ELR stands at 23%, a value that many experts consider high and worthy of attention.

In addition to the overall ELR, it is crucial to observe how some of the major cryptocurrency exchanges are faring in relation to this metric. Three exchanges, in particular, are grabbing attention: Huobi, Deribit, and OKX.

Historically, the correlation between high Open Interest and Volatility in the cryptocurrency market is undeniable. When ELR increases, volatility tends to follow the same path. In this sense, Ethereum may be heading towards a period of increased turbulence.

Banks Of Italy

Italian commercial banks have drawn heavily on their reserves with the Eurosystem in order to repay the pending portion of the 28 June 2023 TLTRO III[1] maturity, according to the last report.

Their excess reserves in the broad sense (including deposit facility) fell from EUR 294 billion on 31 May 2023 to EUR 158 billion on 30 June 2023.

Base Playing At Being Ethereum And Bitcoin

Ethereum’s blue-chip NFT trading volume fell over 40% in August, with Azuki, BAYC, DeGods, and MAYC contributing over 80% of the total volume.

By other site, Base has seen a recent sustained uptick in new addresses on the network. Since August 26th, the layer 2 has been gaining over 720,000 new addresses a day, putting its total number of unique addresses over 15 million.

On the other hand, the 7-day moving average of transactions on the network has been dipping. It peaked at just under 900,000 at the end of August and has now sunk down to 367,000. That being said, Base still remains comparable to Arbitrum and Optimism in terms of transactions.

In other way, Bitcoin NFT sales have declined but Ordinals inscriptions continue rising, according to TokenInsight.

A record 418,240 inscriptions were minted on Sept. 3, the second highest daily mint to date, the research outlet reported last week.

Likewise, Bitcoin is currently at a significant on-chain support level, according to IntoTheBlock.

Over 2.5m addresses acquired ~834 #BTC at an average price of $25,850. This means that we historically see strong demand in the current price range.

The Good And Bad

Yesterday, the market cap of Arbitrum (ARB) dipped below $1bn for the first time.

The governance token of Arbitrum is currently trending at all-time lows and below the market cap of one of its main competitors, OP Mainnet ($OP).

TON cryptocurrency skyrockets with the arrival of a new product in your wallet. Ton Space is now available in the Telegram wallet. This is a new option that allows you to connect to decentralized applications (dApps) on the aforementioned network.

The arrival of TON Space to the masses served as a bullish driver for the price of TON, the network's native cryptocurrency. In the last 24 hours, TON rose more than 10%. At the time of this publication, as can be seen in the graph accompanying this text, each TON is trading for USD 1.92.

Number of pageviews on Bitcoin’s Wikipedia reached 7,830 on Sept 8th, the highest number of daily views in 2023.

This could be attributed to the increased likelihood of a spot bitcoin ETF happening soon, leading people to search up Bitcoin and see what it's about.

Chainlink network’s development activity has steadily increased over the past three years.

The rising activity from the #blockchain’s developers has pushed it to a top-four spot alongside Polkadot, Kusama and Cardano.

Chainlink price started its recovery this week, LINK climbed nearly 4% from Monday’s intraday low to $6 at the time of writing.

Realistic Powerful Metrics

🟠 Bitcoin settled accumulated $111 trillion in transfer volume 🔥 Bitcoin works.

Only extreme average values >150% variation (red circles) of inflow across all exchanges can influence the BTC price, as was the case in November 2022 (FTXcrash), the market recovery in January 2023 and the end of correction in March 2023.

Currently, 11.6 million Bitcoins are in profit, that is, the amount of coins whose price at the time of the last movement was lower than the current price.

Higher lows each cycle and respecting a 13-year trend line.

After a period of coordinated distribution across all cohorts 🔴, the whales 🐳 resumed moderate-intensity hoarding behavior 🔵.

NetTakerVolume shows that there is massive buying in the market, but the price has barely changed.

Either capped sellers are taking over or this thing is going to blow up soon.

Bitcoin's data history shows that whenever the actual value of the threshold of age groups containing UTxOs (supply) lasting less than 1 day to 1 month is less than 7%, the price of BTC is usually around the area bottom of the cycles.

New address momentum and growth for #Bitcoin is at the third highest level witnessed on the network. This typically occurs at the top of bull markets rather than stagnating bear markets. Considerably higher than 30 and 365DMA.

For other site, Bitcoin price reacts as 3.7% CPI sees inflation jump beyond forecasts, according to CoinTelegraph.

Earlier on the day, crypto market participants had warned that a “hot” CPI reading would pressure the market, as it would imply that inflation remained more stubborn than hoped. This, in turn, could have implications for how restrictive economic policy remains in the future.

The Most Impactful

opBNB mainnet is live.

opBNB is an Ethereum Virtual Machine (EVM)-compatible Layer 2 chain based on Optimism OP Stack.

More than 150 projects intend to utilize opBNB.

Layer 2 gas costs as low as 0.2 gwei.

Transaction cost reduced to as low as $0.005 per transfer transaction. Check here:  opBNB Mainnet Is Live!

Coinbase will integrate Bitcoin's Lightning network.

Brian Armstrong, CEO of Coinbase, recognized the value of Lightning Netowrk, which allows faster and cheaper payments with bitcoin (BTC).

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

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