Blockstream Opens New Funding Round For Its Second Bitcoin Mining Security Token

Blockstreams second Mining Note the BMN2 is designed much like the successful BMN1.

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FTX creditors to receive only 1025% of their crypto back, CZ walks free: Law Decoded

Taiwans FSC opens investment channels for professional investors, allowing access to high-risk foreign digital asset ETFs while maintaining a cautious stance on market risks.

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Crypto Guru Warns: Only 6 Years Left To Make As Much Money As Possible

Raoul Pal, the founder of Real Vision and a recognized figure in the crypto community, has issued a stark warning about the rapidly approaching transformations in the global economy, driven by unprecedented technological advancements. In his latest video, Pal, who has long advocated for an understanding of what he calls the “exponential age,” claims that the coming years will bring about the largest changes humanity has ever experienced, due to the rapid development of artificial intelligence (AI) and robotics. According to Pal, we are nearing what he terms the “economic singularity,” a point beyond which current economic, market, and business frameworks will no longer be applicable. By about 2030, things are going to become not understandable by using the existing frameworks of economics, financial analysis, markets, and that kind of stuff, Pal explains. Pal He asserts that AI and robotics are advancing at a pace that will soon outstrip human capacity to adapt under current economic systems. Falling birth rates and aging populations across developed nations are leading to a decline in the traditional economic drivers of GDP growth. Moreover, Pal notes that productivity has not kept up with technological capability, and most new debt is simply servicing old debts, not creating new economic value. Related Reading: Grayscales Bullish Forecast: The Top 20 Crypto To Watch In Q4 The most significant aspect of Pal’s warning concerns the role of AI in the economy. He believes that AI will reach and surpass human levels of intelligence across all areas of knowledge, fundamentally altering the landscape of labor and productivity. AI is basically infinite human knowledge now […] As these models scale, the breakthroughs come through, and the average IQ of AI goes from 100 to 400, and then on to a million times the intelligence of a human, Pal states. This immense growth in AI capabilities is expected to lead to what Pal describes as infinite productivity and a near-zero marginal cost of electricity, primarily due to advances in renewable energy technologies. He argues that these factors will lead to massive deflationary pressures as goods and services become increasingly inexpensive to produce. The Key Role Of Crypto Pal is particularly bullish on the transformative power of blockchain technology and cryptocurrencies in this context. He describes a future economic model where “AI agents” perform tasks and transact autonomously using cryptocurrencies, given their ability to operate independently of traditional banking systems. Related Reading: VP Kamala Harriss First Speech On Crypto Sparks 7% Rise In This Memecoin Obviously, we’ll probably need crypto payments to pay you. […] I think we’ll use cryptocurrency to do that because last thing I checked, AI can’t get a bank account – it’s never going to transfer money over SWIFT, never going to happen, Pal remarks. Pal urges viewers to recognize the urgency of investing in cryptocurrencies. He advises that the window for capitalizing on these technologies is closing fast, with only about six years left to make substantial gains before traditional economic and market structures transform irreversibly. “We’re going to have to go through this together and we have to be smart and try and figure it out as we go but I do know that this idea of 6 years to make as much money as possible is really important and I do think that the real answer to this, as far as I can see, is cryptocurrency because it is the best performing asset in the world and of all time. So I think that’s the one thing we can lean in, it has a huge future, Pal says. At press time, Bitcoin traded at $63,588. Featured image from YouTube, chart from TradingView.com

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Taiwan opens digital asset ETF market to professional investors

Taiwans FSC opens investment channels for professional investors, allowing access to high-risk foreign digital asset ETFs while maintaining a cautious stance on market risks.

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3 Reasons Bitcoin Price Rally Is At Risk Details

Bitcoin emerged as an investors favorite this past week, recording a price rise of 4.07% according to data from CoinMarketCap. During this price surge, the premier cryptocurrency traded as high as $66,000, a level last reached in late July. However, despite this price gain which extends Bitcoins unusual positive performance in September, certain market conditions indicate concern over the sustainability of this rally. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Why Bitcoins Rally Is In Danger In a Quicktake post on CryptoQuant, an analyst with username Wenry outlined several reasons Bitcoin may not sustain its current upward trend. Firstly, Wenry notes that there is a lack of interest from retail investors in Korea and the US as indicated by a stagnant Taker volume. This status is different from previous Bitcoin price rallies where retail activity in these countries was prominent. Therefore, the analyst postulates that the current price surge is devoid of new investments and is likely driven by a select group of market participants. Furthermore, Wenry highlights there is currently a high level of Open Interest in the BTC market, but the asset continues to move in a range-bound market i.e. consolidation due to a low spot volume. The combination of both factors reflects the absence of a significant buying interest in Bitcoin despite the present rally.   Another point of concern raised by Wenry states the current Bitcoin price gain is caused by a rise in derivatives trading due to macroeconomic factors such as the reduction of interest rates. The crypto analyst pinpoints a lack of equal support from the spot market therefore, the rally is likely a temporal uptick rather than a structural market shift. In conclusion, Wenry states that the absence of significant spot market volume, a stagnant Taker volume, and low retail participation all threaten the longevity of Bitcoins current rally. Notably, if retail investors remain away from the market, Bitcoin would likely remain in consolidation or even experience a price correction. Related Reading: Analyst Backs Bitcoin Hitting $290,000 In Bull Run Heres Why Bitcoin To Break All-Time High In Q4?  On another front, popular analyst Michaël van de Poppe has backed Bitcoin to surpass its all-time high price of $73,750 in the last quarter of 2024, following a similar trajectory with gold. Van de Poppes prediction seems quite plausible as Q4 is traditionally the most bullish moment for Bitcoin. In addition, the renowned analyst is also backing altcoins to experience a 3-5x price surge in the same period. At the time of writing, Bitcoin continues to trade at $65,810 following a 0.40% gain in the last day. In tandem, the assets daily trading volume is down 53.16% and valued at $65,649.  Featured image from Freepik, chart from Tradingview

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Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why

Following the markets recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETHs performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETHs price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the King of Altcoins surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been running into critical resistance on the Daily chart, as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrencys run and send the price toward the previous support zones. However, Ethereums price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereums price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it an important level to watch. A breakout above this mark could further propel ETHs price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereums chart is looking a lot like a 2023 redux. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrencys current market structure resembles its 2023 movements very closely. A repeat of ETHs previous bullish trajectory suggests that ETHs price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereums price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com

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Bybit eyes Muslim investors with Shariah-compliant crypto account

Bybit launches Shariah-compliant crypto account, targeting Muslim investors seeking investment options in line with Islamic finance principles.

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MicroStrategy raises $1.01B for Bitcoin acquisitions

MicroStrategy has completed a $1.01 billion convertible note offering, allocating proceeds for Bitcoin purchases and debt repayment.

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SEC crypto overreach cost small investors $15B: John Deaton

According to a popular pro-crypto attorney and Senate candidate, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.

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Solana liquid staking could 5x to $18B on retail investor adoption

Solana-based liquid staking could attract more retail investors due to increased liquidity and capital efficiency compared to regular staking.

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Cardano (ADA) Whales Securing Gains After 10% Upswing: Whats Next?

Cardano has surged over 10%,  breaking a key resistance level, and is now testing higher prices. Despite the bullish momentum, on-chain data reveals that long-term holders are beginning to take profits. The ratio of daily on-chain transactions in profit to loss has turned positive, suggesting that many investors are capitalizing on recent gains. Related Reading: Injective (INJ) Breaks $18 Resistance: Investors Expect Higher Prices As the market continues to evolve, ADA strives to maintain its uptrend, buoyed by positive sentiment and growing optimism for further price recovery. However, this profit-taking activity indicates that some investors are cautiously locking in gains, potentially leading to short-term price volatility. With high expectations for a continued rally in the coming weeks, investors are closely watching ADA’s performance to see if it can sustain its momentum. The next few days will be critical for confirming whether Cardano can hold above these levels and push toward new highs. Cardano Long-Term Holders Selling Cardano is testing local supply levels after a significant surge, with investors becoming cautious in their short-term strategies.  Yesterday, the ratio of daily on-chain transactions in profit to loss reached 1.53, meaning that for every ADA transaction resulting in a loss, 1.53 transactions have generated profits. This metric highlights that many investors are taking advantage of the recent price gains, leading to some long-term holders selling their coins for profit. Data from Santiment supports this view, showing a slight decline in Cardanos Mean Coin Age and Mean Dollar Invested Age on September 11. These metrics track long-term holders’ behavior, reflecting the average age of ADA coins and the amount invested over time. A drop in these metrics suggests that holders who purchased ADA at lower prices are now taking profits, decreasing the average age of the coins in their possession. Despite this selling pressure, ADA still has the potential to maintain its bullish momentum if market conditions continue to push. Cardano could target higher prices, but the cautious behavior from seasoned investors signals that the rally might face resistance soon. Related Reading: Is Chainlink (LINK) $12 Breakout Imminent? Data Reveals A Rising Open Interest The coming days will be crucial for ADA, as it needs to hold above its current levels to confirm a continued uptrend. If buyers regain control and demand increases, Cardano could break through key resistance levels and aim for new highs.  ADA Price Action Details ADA trades at $0.3565 after testing a key resistance at $0.36. The price has closed above the 4-hour 200 exponential moving average (EMA) at $0.3490. This is a significant indicator of short-term strength that ADA had respected as resistance since early August. This successful reclaim of the 4H 200 EMA is crucial for maintaining the uptrend. If ADA manages to retest this EMA and hold it as support, it would confirm a short-term bullish trend. Breaking and holding above this level suggests that ADA could continue to push upward. Investors and analysts see the next target as being in the $0.38 to $0.40 range. Related Reading: Cardano (ADA) Rally Brewing? On-Chain Metrics Suggest Investors Optimism However, if ADA loses this support level, the price could drop to lower demand zones, possibly retreating to around $0.33. This would signal a weakening current momentum and potentially spark further selling pressure. Featured image from Dall-E, chart from TradingView

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Grayscale introduces Bittensor and Sui trust products

Grayscale has added the Bittensor protocol and the Sui network to its list of crypto investment products.

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Transak becomes first US crypto on-ramp to enable wire transfers

Wire transfers in the worlds largest economy could attract more high-net-worth individuals to crypto.

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Litecoin Sees Sudden Exodus Of Retail Investors: Why This Can Be Bullish

On-chain data shows Litecoin has recently seen a sudden exit of small hands, which can favor LTC’s price. Small Litecoin Investors Have Been Displaying FUD Recently In a new post on X, the on-chain analytics firm Santiment discussed the latest shift in Litecoin’s userbase. A couple of relevant indicators are relevant here: Total Amount of [...]

The post Litecoin Sees Sudden Exodus Of Retail Investors: Why This Can Be Bullish appeared first on Crypto Breaking News.

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Bitcoin holdings of publicly listed firms increased to $20B in one year: Data

A survey showed that 26% of institutional investors and wealth managers support Bitcoins use case as a reserve asset. 

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Fetch.ai launches Innovation Lab with $10M fund for startups

Fetch.ai is opening an Innovation Lab in San Francisco for early-stage startups working with AI agents.

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Franklin Templeton expands blockchain fund to Avalanche network

Franklin Templeton has expanded its pioneering blockchain-integrated money market fund to Avalanche, broadening institutional investor access to digital finance.

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Lido launches institutional-grade liquidity staking solution

The biggest ETH liquid staking protocol has enhanced its offering for large investors, many of whom are already its customers.

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Bitcoins bull rally will continue another 350 days: Bybit

Bitcoin's 2024 bull run was mainly driven by institutional inflows, which could be the key to unlocking the next leg up.

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Pump.fun hits record $28.7 million monthly agreement income for July

The memecoin creation platform's record monthly income showcases the growing retail interest towards Solana-based memecoins like WIF and BONK.

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