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Welcome to Thursday Folks! Yesterday, the news cycle was dominated with hackers, attackers, and scammers as well as all the legal cases going on from SBF to Ripple to a New Jersey Police Officer. Today is starting off a little slow with nothing really trending other than old news about Dan Morehead making a "prediction" about the price of Bitcoin; let's get back to $50K before predicting anything else shall we? The price of Bitcoin is currently trading at $26,509.25 once again back above $26K; will it remain above it this time? Let's dive into the news...
Polychain Capital and CoinFund launch new funds, and spot Bitcoin ETFs approval rumors can’t brighten the outlook for crypto VC sector.
On-chain data shows the Bitcoin NVT ratio is currently flashing a buy signal, a sign that the bottom for the asset’s price might now be in.
A recent release suggests that Pantera CEO Dan Morehead may have predicted the impact of a Ripple victory long before it occurred. According to Pantera, the next Bitcoin halving is expected to occur on April 20, 2024. If history repeats itself, Bitcoin could rise to $35,000 before the halving and soar to $148,000 afterward. Meanwhile, Mike McGlone's analysis suggests that Bitcoin (BTC) may follow similar patterns to the stock market during the Great Depression of the 1930s. Arthur Hayes said that Bitcoin’s value proposition grows stronger as the banking system falters.
Bitcoin adoption in West Africa is dominated by Nigeria, the crypto powerhouse and the region’s economic engine. ARK Invest and Glassnode unveiled a new metric for analyzing bitcoin supply and demand dynamics. Bitcoin financial services firm Ledn’s ties with the Cayman Islands open a doorway for crypto users to use their funds to obtain real estate “golden visas.“ Bitcoin transaction fees cost less than ‘a Big Mac.’
Ethereum (ETH) appears to be the most popular cryptocurrency in the top 10 cryptos by market cap with 79 million wallets.
Four prominent Ethereum holders collectively purchased 56.1K ETH, amounting to $94 million, within the last seven days. Dogecoin Millionaire's Fortune Fell From $3M to $50,000—But He Hasn’t Lost the Faith
Coinbase said it planned to fully decentralize the Layer 2 network in the future. FTX wants to hire Galaxy to manage its crypto. Binance discontinues card services in Latin America and the Middle East, impacting less than 1% of users and in an official statement, cryptocurrency exchange Binance unveiled its plans to implement updates to the zero-fee Bitcoin trading starting from September 7. At the same time, growing rumors about the leading crypto centralized exchange, investors are withdrawing vast amounts of Bitcoin (BTC) from Binance. The founder and CEO, Changpeng Zhao (CZ), called the rumors an attempt to create ‘fear, uncertainty, and doubt’ (FUD). Coinbase will suspend trading for six tokens (BOND, DDX, JUP, MULTI, OOKI, VGX) across its platforms on September 6.
Ripple achieves victory in a three-year legal tussle with the SEC, setting a significant precedent that many XRP sales are not securities and Pantera Capital's CEO, Dan Morehead, previously identified regulatory clarity as a potential "positive black swan" in the crypto world.
Pig butchering crypto scams target vulnerable and lonely elderly Americans, with reported losses over $1 billion in 2022. Ethereum automated market maker and decentralized finance (DeFi) protocol Balancer warned that $2.8 million, or 0.42% of its total value locked (TVL), remains at risk following the discovery of a vulnerability on Aug. 22.
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Podcast of the Day: WSJ Says Binance Facing Trouble Over Sanctions Violations | The Break Down
Sources:
Crypto Market (Cointelegraph)
Predictions (NewsBTC | UToday | TB | BIC | Finbold | TDH)
Bitcoin (NewsBTC | Cointelegraph | TB | Cointelegraph | CryptoPotato | Finbold | Decrypt)
Altcoins (BIC | UToday | Decrypt | CryptoPotato | NewsBTC)
Exchanges (TB | Blockworks | CoinDesk | Cointelegraph | BIC | BIC | Finbold | TDH | CryptoPotato)
Legal Cases (BIC)
Attacks/Hacks/Scams (BIC | Cointelegraph)
