Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Navigating web3 can be overwhelming, but Homnifi is here to simplify the experience, making blockchain accessible and secure for everyone.

Table of Contents

Making sense of web3

Security worries: A common roadblock

Homnifi: Your guide to a simpler web3

Keeping it safe and simple

Wrapping it up

Web3 and blockchain are the buzzwords of the moment, promising to change how we do things online. But, in all honesty—jumping into this new world can feel a bit like trying to learn a new language overnight. 

The potential is huge, but the barriers can be overwhelming. Between the complicated tech speak, confusing apps, and the ever-present worry about security, it’s no wonder many people are hesitant to dive in.

Making sense of web3

Picture this: You’re eager to start learning how to drive. But instead of getting the keys to a car, you’re handed a box of parts and told to build the engine first. To most people, exploring the web3 space feels like that. Complicated terms like “cryptographic keys” and “smart contracts”—things that sound more at home in a sci-fi movie than in your everyday life–come part and parcel with the experience. So you basically have to learn an entirely new vocabulary before you can even get started. 

Then, after you think you’ve gotten a grip on the basics, you realize using tools and platforms available can be like wandering through a city without street signs. Each platform has its quirks, and they don’t always work smoothly together. So not only do you have to learn an entirely new dictionary of terms, but you also have to figure out how the pieces come together. 

Security worries: A common roadblock

Third, there’s the question of security. In the traditional setting, you can trust a bank to keep your savings safe. But in web3, you are the account holder, bank, and key holder all in one. Your virtual holdings are stored in a digital space that can only be accessed if you have a specific set of words called a “seed phrase.”

If you lose your “seed phrase,” You could lock yourself out forever. And if someone else gets hold of them? They could take everything.

For many people, this responsibility is a big, scary hurdle. The thought of messing up and losing everything is enough to keep them from even trying to get involved in web3.

Homnifi: Your guide to a simpler web3

This is where Homnifi steps in. Homnifi is like that friend who simplifies everything, making the complex world of Web3 as easy to use as your favorite app. It’s designed to remove the hurdles of complexity and security, so you can explore this exciting space without getting tangled in the weeds.

Homnifi’s main goal is to turn the intricate world of blockchain into something that feels as natural as scrolling through your favorite website. It’s like a digital hub where everything you need is just a click away.

Whether you’re brand new to web3 or have been around the block a few times, Homnifi’s platform is designed to be intuitive. It guides you through every step, making the experience as familiar as possible. Whether you’re curious about decentralized finance, eager to explore blockchain projects, or just want to learn more about how it all works, Homnifi has you covered—without overwhelming you with technical jargon.

Keeping it safe and simple

Security is a top concern, but managing security details can be tricky. Homnifi makes all this easier. With a single username-password combination, you can immediately access numerous apps and tools within the Homnifi ecosystem, never having to worry about remembering different access details for each single platform. 

Plus, it includes built-in two-factor authentication to protect your account. So even if someone gets hold of your password, they still won’t be able to access your account without a second verification step.

By simplifying these processes and beefing up security, Homnifi reduces the chances of making costly mistakes while giving you the confidence to explore web3 without the stress.

Wrapping it up

The world of web3 is full of potential, but getting started can feel like a huge leap. Homnifi is here to make that leap a little less daunting by offering a platform that not only simplifies the experience but also keeps you safe. 

By providing a single, easy-to-use entry point into web3, Homnifi aims to help more people discover and enjoy this new digital frontier.

As technology continues to evolve, platforms like Homnifi will be key to making sure that everyone, not just the tech-savvy, can be part of the future of the internet.

About Homnifi

Homnifi is a dynamic and secure digital platform that enables a 360-degree experience of the world of web3. It provides easy access to the evolving digital space through its wide spectrum of solutions, simplifying the user journey and making web3 available to everyone.

Discover Homnifi’s full suite of hardware and software solutions by visiting their website at https://homnifi.com/. You can also follow them on social media to keep up with their latest product and news updates: Facebook, Instagram, LinkedIn, YouTube, X.

Read more: SocialFi, web3, and UX: Cracking the trillion dollar creator economy | Opinion

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Google Cloud has launched an Ethereum-compatible Remote Procedure Call service to simplify blockchain development and provide a reliable way to interact with blockchain data.

Announced on Sept. 17, Google Cloud’s latest offering allows decentralized applications to communicate with blockchain networks, starting with support for the Ethereum mainnet and testnets, offering a cost-effective alternative to managing node infrastructure.

An RPC is a software protocol that enables one program to request a service from another program located on a different network. In blockchain, RPCs are crucial for DApps to interact with blockchain data, handling tasks like transaction validation, data retrieval, and node communication.

RPC reliability has been a persistent issue in the blockchain sector. Delays or errors in RPCs can affect the functioning of DApps, which often need to handle transactions and data requests instantaneously. 

High network traffic or sudden spikes in transaction volumes often cause disruptions, as seen in the past with Ethereum’s layer-2 solution ZkSync, and blockchains like Solana and Manta, which have experienced issues during times of peak demand.

Google Cloud’s Blockchain RPC service aims to solve these issues by leveraging its infrastructure for better reliability. 

The service is fully compatible with the JSON-RPC standard, which allows Ethereum developers to integrate it with their dapps with minimal coding by just modifying their RPC endpoints.

Further, it offers a free tier, allowing up to 100 requests per second and 1 million requests per day, supporting real-time and data-heavy applications, catering to both startups seeking an entry point into blockchain technology to large enterprises that need a dependable infrastructure.

You might also like: Orderly Network, Google Cloud expand AI bounty to bring auto trading to web3

Kyle Quintal, Head of Engineering at web3 analytics firm 0xArc, noted that Google Cloud’s RPC service provides “fast response times,” and aligns with the Ethereum Improvement Proposal 1474 standards, which encouraged them to integrate it into their system.

 EIP-1474 defines a set of standardized RPC methods for Ethereum nodes.

The Blockchain RPC service is now available globally in preview and Google Cloud plans to extend support to more blockchains over the coming year.

The new initiative is a part of Google Cloud’s broader push into the blockchain sector. Over the years, the cloud computing giant has collaborated with several blockchain projects and platforms like EigenLayer, Aptos, Flare, and Polygon among others. 

Read more: EigenLayer welcomes Google Cloud as a mainnet node operator

Ki Young Ju, CEO of the blockchain analytics platform CryptoQuant, believes the crypto market is still “in the middle of the bull cycle.”

According to Young Ju’s X post, self-custodial Bitcoin (BTC) wallets have been accumulating over the past week. He added that long-term holder whale addresses are showing increased interest.

Whales are accumulating #Bitcoin.Six days of accumulation alerts in a row. Primarily from custody wallet inflows.Nothing has changed for Bitcoin; we're in the middle of the bull cycle. pic.twitter.com/DE0A1Khhus

— Ki Young Ju (@ki_young_ju) September 18, 2024

Following the increased accumulation, BTC rose by 3.35% in the past 24 hours and is trading at $60,450 at the time of writing. On Sept. 17, the flagship cryptocurrency reached a local high of $61,316 with its market cap surpassing the $1.2 trillion mark.

You might also like: Spot Bitcoin ETFs see massive $186.7m inflow surge, Ether ETFs face continued outflows

BTC price – Sept. 18 | Source: crypto.news

The global crypto market cap also surged by 0.7% over the past day, reaching $2.17 trillion, according to data from CoinGecko. Most of the leading altcoins recorded bullish momentum with Nervos Network (CKB) emerging as the top gainer with a 17% price surge. 

Moreover, the market-wide positive sentiment comes ahead of the expectations of the U.S. Fed rate cut, which is scheduled for today. The probability of a 50 basis point rate cut increased last week as the U.S. Consumer Price Index report showed declining inflation. 

Per a crypto.news report, the CPI for August came at 2.5% while the expected rate was 2.6%. 

This will be the first Fed rate cut since July 2019 which many analysts believe could trigger bullish momentum for financial markets, including cryptocurrencies.

Data from the market prediction platform Polymarket shows that there is a 53% chance of a 50 basis point rate cut and a 46% chance of a 25 basis point rate cut.

Read more: Binance fires back at WazirX over control claims

SkyBridge Capital’s Anthony Scaramucci predicts Bitcoin could reach $100,000 by the end of 2024, driven by rate cuts and potential pro-crypto legislation.

SkyBridge Capital founder and hedge fund manager Anthony Scaramucci predicts Bitcoin (BTC) will reach $100,000 by the end of 2024, driven by U.S. interest-rate cuts and potential pro-crypto legislation.

In an interview with Bloomberg, Scaramucci highlighted that upcoming Federal Reserve rate cuts and bipartisan support for crypto and stablecoin legislation in the next U.S. congressional term could fuel a significant rise in Bitcoin’s value.

“We are going to get pro-cryptocurrency, Bitcoin, and stablecoin legislation in the first part of the next congressional term in the U.S. At the same time, you are intersecting with rate cuts from the Federal Reserve.”

Anthony Scaramucci

You might also like: Scaramucci: Bitcoin and crypto regulation must be bipartisan

A former communications director for Donald Trump, Scaramucci noted the Republican nominee’s recent shift to a pro-crypto stance as he seeks votes in a close race against Vice President Kamala Harris, whose position on crypto is less defined.

Despite the ambiguity, Scaramucci expressed optimism about the regulatory landscape under a potential Harris administration, citing positive discussions with her campaign team. The SkyBridge Capital head expects the Federal Reserve to cut borrowing costs by half a percentage point, with up to 150 basis points of cuts in the next 18 months. He believes such moves will be favorable for asset prices globally, including Bitcoin, which has already risen 5% in the lead-up to the Fed’s policy decision.

Read more: Scaramucci expects Bitcoin to reach $170k, moving 4x ‘within 18 months of halving’

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Crypto All-Stars kicks off its presale with a bang, raising $1.3 million for its new MemeVault staking protocol that promises passive rewards for memecoin enthusiasts.

Table of Contents

Smart money traders bet on utility memecoins like STARS 

Q4 averages 86% return for BTC, memecoin season expected

Crypto All-Stars presale offers promising opportunity

The recently launched Crypto All-Stars (STARS) is off to a flying start, having successfully raised $1.3 million at presale.

The project is building the first unified staking protocol for memecoins, called the ‘MemeVault.’ This will allow users to stake any top memecoin and generate passive STARS rewards.

Crypto All-Stars’ presale is ongoing, providing investors with an opportunity to buy at a fixed and discounted rate while contributing to the project’s development.

As a community-funded project, Crypto All-Stars ticks all the boxes of a democratic and fair memecoin.

You might also like: Crypto All-Stars nears $1M in ICO as expert hails it as the best new presale

Smart money traders bet on utility memecoins like STARS 

Every day, hundreds of new memecoins enter the market, making it near-impossible for investors to gain a trading edge. In response, smart money traders are rotating to utility-rooted memecoins like Crypto All-Stars.

While encapsulating the light-hearted spirit of Dogecoin, Shiba Inu, Pepe, and eight other tokens it’ll support, the native STARS token has inherent utility, which could drive organic and sustainable demand.

ClayBro, a trader with over 130k YouTube subscribers, hails Crypto All-Stars for raising funds even while the crypto market is experiencing “overall volatility” and fear.

The analyst thinks STARS could 10x in value after its presale.

What’s all the hype about? As mentioned, Crypto All-Stars is creating an industry-first “MemeVault.” This means that users can stake 11 top memecoins and generate passive STARS rewards.

They must hold STARS to gain access, which places its demand in line with the platform’s popularity.

This use case is attracting much attention because there are many wealthy memecoin holders in the major communities, and now they’re economically incentivized to buy STARS.

In addition to this utility-driven demand, we could well see speculators bid on STARS as a ‘memecoin index,’ which offers indirect exposure to all its underlying assets.

The MemeVault has yet to launch, but the project’s native staking is live. It currently provides a whopping 1,100% APY, although this will decrease over time.

Q4 averages 86% return for BTC, memecoin season expected

According to data from Coinglass, Bitcoin has averaged an 86% growth rate in Q4 since 2013. This makes it the best-performing quarter for Bitcoin, which is the pace-setter for altcoins. 

As such, expectations are high for the crypto market, with many traders anticipating that the next leg of the bull run is almost here.

But during bullish periods, meme coins often perform best, as evidenced by Q1 of 2024. 

The quarter was significantly bullish for crypto, but memecoins provided the biggest returns with an average 1,313% profit, according to CoinGecko data.

Based on historical data, Crypto All-Stars’ market debut has come at the perfect time. And with the presale ongoing, there’s no better opportunity for investors to gain exposure.

Crypto All-Stars presale offers promising opportunity

The STARS presale is available at a discount – but it’s first come, first served. It is currently priced at $0.0014477, but this is expected to rise throughout the campaign, with the next increase in two days.

Investing in early-stage memecoins comes with risk. That’s why Crypto All-Stars has undergone two external audits from Coinsult and Solid Proof.

Both audits returned clean, and found no issues with the project’s code. This signals that STARS is safe and secure.c

With over $1.3 million raised, traders are willing to invest a lot of money in the Crypto All-Stars presale. Coupled with its use case, analyst support, and smart contract audits, this hints at a bright future.

Follow Crypto All-Stars on X or join its Telegram for the latest updates. Alternatively, visit its website to buy and stake tokens.

To learn more, visit the crypto All-Stars presale.

Read more: Crypto All-Stars raises $1M in presale; poised to change memecoin staking

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Crypto trading bots are a controversial topic in the crypto industry, with influencers everywhere claiming that they’ve found the perfect trading bot that users can easily make money with.

This article will list some trading bots that beginners can explore. However, it should be noted that total rookies who know nothing about trading are unlikely to have a use case for trading bots.

Trading bots are best used by traders who are already profitable and want to automate their process, not by people who do not know how to make money trading crypto.

Table of Contents

Top 4 Crypto Bots for Beginners

Best Free Crypto Trading Bots for Beginners

Choosing the Right Crypto Trading Software for Beginners

Crypto Trading Bot Strategies for Beginners

Most Profitable Crypto Trading Bots

FAQs

Top 4 Crypto Bots for Beginners

What are the best crypto trading bots for beginners in 2024? Let’s take a look at some of the most popular crypto trading bots in the market today, focusing on the best crypto bots for beginners, i.e. those that do not require much manual programming on the user end.

Pionex

Pionex is an exchange that offers built-in trading bots that beginners can experiment with for free. The platform is user-friendly and includes a Grid Trading Bot, DCA (Dollar-Cost Averaging) Bot, and other bots that users can attempt to make a profit with.

Pionex has no subscription fee for its bots and makes money from its 0.05% transaction fees instead, allowing users to try the bots out at a low cost.

3Commas

3Commas is a crypto trading bot that is typically considered easy to navigate and provides a comprehensive toolset for any crypto trader. From smart terminals, portfolio management tools, and bots for dollar cost averaging and other strategies, 3Commas is a versatile tool that offers somewhat low-risk strategies compared to some of the other bots out there.

The bot is priced at $29 per month for the starter plan, moving from $49 to $99 for higher tiers of service and access to more advanced tools.

CryptoHopper

CryptoHopper is an AI-powered bot platform that allows users to automate and backtest their trading strategies. It also offers copy trading of other successful traders. As with anything, this copy trading feature can be useful when done responsibly, although it very often results in newcomers losing their money both on CryptoHopper and elsewhere.

Copy-trading platforms incentivize traders to pursue high-risk strategies for higher rewards, and copy-traders who follow others without having a well-executed risk management plan are often highly exposed to getting liquidated. Newcomers are best advised to carefully research before getting started.

CryptoHopper is priced from $19 to $99 per month depending on how many trading strategies and open positions a trader wants to access. It also offers a free trial to get started.

Bitsgap

Bitsgap is a crypto trading platform with AI bot features available. It also allows users to try a demo mode where they practice their trading without risking real crypto, allowing users to get a feel for the market. It is integrated with multiple other exchanges where its bots can trade automatically.

Bitsgap is priced from $24 – $123 per month depending on how many bots and features a user wants, and it also offers a free trial which offers access to the highest tier of service for 7 days.

Bitsgap offers a 14-day free trial, and its pricing starts at $24 per month for the Basic plan, which includes access to basic trading tools and one active bot, $57 per month for the Advanced plan, which provides more bots and trading features, and $123 per month for the Pro plan, offering unlimited access to all bots and advanced features.

Best Free Crypto Trading Bots for Beginners

When considering the best crypto trading bots for beginners in 2024, cost is a major factor.

Our two top pics for free crypto trading bots that beginners can use are Pionex and Mudrex.

Pionex stands out with its range of free bots, offering a low barrier to entry for beginners. Users can work with strategies, including grid trading and arbitrage, on a fairly intuitive trading platform without having to pay a subscription fee.

Mudrex also offers a free model called “Pay as You Profit,” which only charges users a fee when they actually profit from trading. While this is not technically free, it’s a forgiving pricing model that doesn’t charge users money they don’t have and only rewards profitable trades, making it appealing to those seeking to avoid subscription costs.

Choosing the Right Crypto Trading Software for Beginners

Crypto trading software can be useful, but users need to be very careful when signing up for unknown software. Here are some things to watch out for.

Ease of Use: As a beginner, ease of use is important. Make sure that you understand how to use the software, and that you find it easy to use and understand so as to prevent any mistakes.

Security: Your crypto trading software is handling your money. Make sure the platform is reputable by checking reviews and articles online, as well as recent social media commentary. Check that the platform is regulated and offers security features like 2FA and data encryption.

Compatibility: The more exchanges your bots can trade on, the more options you have when it comes to trading.

Crypto Trading Bot Strategies for Beginners

More important than finding the best crypto bot for beginners, perhaps, is learning how to use it.

There are several different trading strategies you can try out, even as a beginner. It’s an excellent idea to try these out on a demo using simulated money before using any real funds.

Grid Trading: This strategy involves placing buy and sell orders at set intervals around a predefined price, creating a “grid” of orders. It is ideal for volatile markets and helps in profiting from market fluctuations.

Dollar-Cost Averaging (DCA): This strategy involves buying a fixed dollar amount of cryptocurrency at regular intervals. It reduces the impact of volatility and averages out the purchase cost over time, making it a great strategy for beginners who are risk-averse. Many bots, like the DCA Bot offered by platforms such as 3Commas and Pionex, automate this process, making it easier for new traders to implement.

Arbitrage: Arbitrage bots exploit price differences of the same cryptocurrency across different exchanges. This strategy requires quick decision-making and execution, making it a perfect candidate for automation. Beginners can start with simple arbitrage strategies using bots like those available on Pionex.

Copy Trading: This strategy allows beginners to mirror the trading strategies of successful traders. Platforms like Shrimpy and CryptoHopper offer this feature, where new traders can learn from the best while still earning profits.

Most Profitable Crypto Trading Bots

A crypto trading bot is a tool, like a crypto wallet or portfolio tracker. To say that there are profitable crypto trading bots is to misunderstand the nature of this technology. Generally speaking, it is the trader who is profitable, not the trading bot itself, and profitability depends entirely on how the trader uses this tool.

If you’re trying to make money with a crypto trading bot, you need to understand how to trade crypto, and you need to have a well-thought-out risk management strategy. The trading bot needs to be programmed to use a profitable strategy, and you need to have a good reason to deploy the bot to implement that trading strategy.

If you simply buy access to a bot and tell it to follow a strategy on a whim, it is most likely going to lose your money, and the outcome will be determined purely by chance, as with gambling. Crypto trading bots can automate trading to free up traders and carry out actions 24/7 that a trader cannot do, but they still need to have a competent trader pulling the strings and steering the bot in the right direction.

Even with copy trading, traders need to be aware that the profitable traders they’re copying may be chasing high-risk strategies that could liquidate their followers, who may have different stop-loss settings, different levels of capital exposure, and other factors.

It’s considered a best practice to research risk management and crypto trading as well as crypto trading bots very deeply before making a financial decision, as automated trading is a particularly fast way to execute trades whether they’re making you money or losing it.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

FAQs

Do crypto bots really work?

The issue of whether crypto trading bots really work is controversial. The general consensus is that while crypto bots can work, the average user is unlikely to make money from using a crypto trading bot without bringing any kind of additional trading knowledge to the table. Crypto trading bots are most effectively used by skilled traders as an automation tool rather than as a get-rich-quick scheme by unskilled users.

How do I choose a crypto trading bot?

The best trading bot for your needs will depend on your requirements in terms of fees and features and how it all fits in with your overall strategy. Again, trading bots are best used by traders who are already profitable and are simply seeking to automate their trading rather than people who do not know how to trade.

What is the best AI crypto trading bot for beginners?

It could be argued that beginners who do not know how to trade should simply stay away from AI trading bots and focus on learning how to trade profitably by themselves before introducing a tool like an AI trading bot.

Australia’s central bank has announced a shift toward wholesale CBDC development, citing greater economic benefits and fewer challenges compared to a retail version.

The Reserve Bank of Australia seems to be prioritizing wholesale CBDC development over retail, citing greater economic benefits and fewer challenges for the country’s financial system.

In a Sept. 18 conference speech, RBA assistant governor Brad Jones emphasized the RBA’s focus on wholesale CBDC, viewing it as an “evolutionary than revolutionary” addition to the existing monetary systems, particularly in the context of systemically important markets.

“[…] unlike a retail CBDC that would be issued for use among the public, a wholesale CBDC would represent more an evolution than revolution in our monetary arrangements.”

Brad Jones

To prioritize a whole CBDC, Jones announced a three-year research initiative into digital money, with immediate plans to collaborate with industry on this type of central bank digital currency and tokenized commercial bank deposits. The central bank official says the project will explore new ledger technologies and concepts such as programmability and atomic settlement to assess potential gains for Australia‘s financial infrastructure.

You might also like: Research reveals 98% of global economy exploring CBDC solutions

Type of cash payments by country since 2010 | Source: The Reserve Bank of Australia

In contrast, the RBA views the benefits of a retail CBDC as “modest or uncertain at the present time,” citing that it would represent a “significant change” to Australia’s financial arrangements. Jones highlighted that many of the international arguments in favor of retail CBDCs are either less relevant to Australia or “uncertain at the present time, relative to the challenges it would introduce.”

While the RBA remains open to exploring retail CBDC in the future, Jones indicated that any move in that direction would require a public policy case and “legislative change,” aligning with international norms. “As such, the Australian Government would ultimately decide whether to introduce a retail CBDC,” he said, underscoring the need for close coordination with Treasury and other government bodies.

Read more: Australia’s largest bank shuts down stablecoin project: report

The native token of Nervos Network recorded impressive gains over the past week, but its bullish trend seems to be fading away.

Nervos Network (CKB) emerged as the top gainer among the leading 100 cryptocurrencies with a 140% rally over the past month. Notably, the asset gained 19% in the past 24 hours and is trading at $0.018 at the time of writing — this is the highest level for CKB since June.

CKB price, sentiment, open interest and funding rate – Sept. 18 | Source: Santiment

CKB’s market cap is currently sitting at $829 million with a daily trading volume of $573 million.

Per a crypto.news report, CKB’s price rally started on Sept. 13 after the leading Korean exchange Upbit listed the asset. 

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According to data provided by Santiment, the weighted sentiment around Nervos Network has been fading away since Sept. 15. The asset’s social volume witnessed a similar movement after skyrocketing on Sept. 13. 

Data from the market intelligence platform shows that the CKB funding rate plunged to negative 2.37% on the day of the Upbit announcement. Thanks to the short-positioned liquidations, the token’s price recorded impressive gains. 

However, the Nervos Network funding rate is currently sitting at 0.2%, showing a notable increase in the amount of long trades. 

Per data from Santiment, CKB’s total open interest decreased by 22% over the last three days — falling from $90 million to $70 million. 

Nervos Network’s open interest is still sitting at a very high zone despite the recent correction. The CKB open interest was hovering around the $7 million mark on Sept. 12, before the Upbit listing.

At this point, liquidations could push the CKB price down. 

Read more: What to expect at TOKEN2049 in Singapore

Spot Bitcoin exchange-traded funds in the U.S. saw a 13-fold surge in net inflows on Sept. 17, while spot Ether ETFs faced outflows for the second consecutive day.

According to data from SoSoValue, the 12 spot Bitcoin ETFs logged net inflows of $186.76 million, 1360% higher than the $12.9 million inflows recorded the previous day. Fidelity’s FBTC led the charge with $56.6 million flowing into its fund. Notably, the ETF recorded net inflows for seven consecutive days, with $279.7 million entering it.

Bitwise’s BITB and ARK Invest and 21Shares’ ARKB followed with $45.4 million and $42.2 million inflows, respectively. Additionally, VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC drew in $20.5 million, $10.2 million, and $8.7 million, respectively.

WisdomTree’s BTCW saw a modest inflow of $3.2 million on the day, marking its first inflows since Aug. 27. The remaining five BTC ETFs, including BlackRock’s IBIT, witnessed no trading activity on the day.

Total trading volume for the 12 BTC ETFs saw a giant leap to $2.27 billion on Sept. 17, significantly higher than the $1.1 billion seen the previous day. These funds have recorded a cumulative total net inflow of $17.5 billion since inception. At the time of writing, Bitcoin (BTC) was up 3.2% over the past day, exchanging hands at $60,348, according to data from crypto.news.

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Meanwhile, the nine U.S.-based spot Ethereum ETFs experienced net outflows of $15.11 million on Sept. 17, continuing their second-day outflow streak. The entire daily net outflows originated from Grayscale’s ETHE, with $17.9 million flowing out of its fund.

These outflows were partially offset by the Grayscale Ethereum Mini Trust, which logged inflows of $2.8 million on the day. The remaining seven ETH ETFs remained neutral.

The trading volume for these investment vehicles jumped to $176.2 million from the $129 million seen the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $605.84 million to date. At the time of publication, Ethereum (ETH) saw a 1.3% rise, trading at $2,327.

Read more: Ethereum price drops to a 41-month low against Bitcoin

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Donald Trump’s bullish crypto statement has sparked excitement, with major investors flocking to emerging coins like Intel Markets, which has already sold over 36m tokens.

Table of Contents

Ripple: Prominent analyst with a bold prediction

Ethereum: May see a rally

Intel Markets: A next-gen trading platform

Closing remarks

The crypto market is rising again as Donald Trump made a bullish statement. In a new launch teaser for World Liberty Financial, Trump said he will embrace the future with crypto coins. Not only that, he put down big banks by saying that they are now old-fashioned. In this environment, people seek new crypto coins with fantastic growth potential.

One of these coins is Intel Markets (INTL), as per some Ripple and Ethereum whales. This project is now in Stage 1 of its presale and has sold over 36m INTL tokens so far. While analysts like Steph Is Crypto and CryptoBullet remain bullish for Ripple (XRP) and Ethereum (ETH), Intel Markets is getting all the attention.

You might also like: TON, Intel Markets and ETH: The next cryptos to skyrocket

Ripple: Prominent analyst with a bold prediction

Ripple has been soaring on the price charts. CoinMarketCap shows that the Ripple price jumped nearly 10% on the weekly chart. Crypto analyst Steph Is Crypto also made a bold prediction. According to his X post, Ripple may surge to $40.

This prediction came after Grayscale announced its XRP Trust, which will be available to eligible accredited traders. Many people see this as a bullish development, as it could lead to a Ripple ETF. Due to all these factors, other market analysts also remain bullish on the Ripple coin. Their Ripple price prediction forecasts a jump to $0.62 before October ends.

Ethereum: May see a rally

Ethereum is a token that has also seen some green. Over the past week, the Ethereum price has dipped, as per CoinMarketCap. Prominent market expert CryptoBullet says that Ethereum is now in the final stage of a bear market. His X post says that the Ethereum crypto is now in the capitulation and accumulation phase. He also predicted two price targets: $0.088 and $0.11.

VanEck recently closed down its Ethereum ETF in favor of Ethereum ETP. People are excited that this could bring direct exposure to the real-time price of Ethereum and smaller costs. As a result, experts forecast a potential rise to $2,500 in their Ethereum price prediction for the next month.

You might also like: Ethereum and Ripple whales flock to Intel Markets, a new presale project

Intel Markets: A next-gen trading platform

Intel Markets is now making a lot of commotion in the crypto space. Its ongoing presale performance has been great, raising over $270k and potentially reaching $1m before the end of September. Interest in this project is sky-high as Intel Markets taps into the AI market. Statista predicts this market will be worth $184b before 2024 ends.

At its core, IntelMarkets will combine AI and blockchain technology to create a unique AI-powered smart trading platform. On this platform, people can use self-learning trading robots. Unlike other trading robots, these ones will improve over time as they learn from their mistakes. Plus, Intel Markets will give all the power to traders by allowing them to see a 1000x leverage on their capital—a big advantage over its peers.

Those looking to support this project are now buying the INTL token. In Stage 1 of its presale, it costs $0.009. But Stage 2 could bring a 100% surge to $0.018. Some experts say that this is just the beginning. They predict an 11x growth once INTL sees a big Tier-1 exchange listing soon.

Closing remarks

With its combination of AI and blockchain tech, Intel Market’s future looks good in the crypto space. Intel Markets is strategically positioning itself to capitalize on this growth. Additionally, since INTL has a smaller market cap than Ripple and Ethereum, it is expected to rise much faster with less new money. Whales have noticed this and are now rushing to capitalize on Intel Market and the AI market as a whole.

To learn more about Intel Markets, visit the website, and Telegram and Twitter.

Read more: Next big player: Intel Markets outshines DOGE, SOL

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Lawyers representing Alex Mashinsky have argued that he “did not intend to defraud or harm anyone” — and the claims he made in weekly videos to Celsius customers were done in good faith.

Table of Contents

What Celsius case is about?

Mashinsky’s strategy

Creditors repaid

What Celsius case is about?

Celsius Network was one of the biggest casualties of a brutal crypto winter in 2022, with the embattled lender suddenly freezing the withdrawals of 1.7 million customers.

The company had suffered from a huge black hole in its balance sheet — and abruptly tipped into bankruptcy, blaming “extreme market conditions.” 

While founder Alex Mashinsky regularly insisted his platform was “better than a bank,” with yields that seemed too good to be true, prosecutors allege it was different behind the scenes.

The Securities and Exchange Commission’s claimed that false and misleading statements were made to investors, and there was widespread market manipulation of its native token CEL.

And while Celsius had insisted that it was a safe investment opportunity, regulators warned “significant risks” had been taken with investors’ funds.

Now, more than two years on from the doomed firm’s spectacular collapse, Mashinsky is going on trial in New York — and faces seven criminal charges.

They include wire fraud, securities fraud, and commodities fraud. If convicted, the fallen entrepreneur could face up to 115 years behind bars.

When the arrest took place back in July 2023, U.S. Attorney Damian Williams declared:

“If you rip off ordinary investors to line your own pockets, we will hold you accountable.” 

The Department of Justice has shown it has a strong track record of untangling messy crypto collapses and gathering the evidence needed to secure convictions.

FTX went under in November 2022 — and less than a year later, Sam Bankman-Fried was found guilty of all seven counts against him and later jailed for 25 years.

His legal team have now launched an appeal, and argue that he was treated unfairly by the judge throughout his trial. 

Alex Mashinsky at the Web Summit in 2021 | Source: Piaras Ó Mídheach/Web Summit via Sportsfile

Ex-executive in Celsius, Roni Cohen-Pavon, pleaded guilty to four charges on Sep. 13. Cohen-Pavon, an Israeli citizen, is free on a $500,000 bond and may leave the U.S. to visit Israel. He agreed to cooperate with prosecutors.

Mashinsky’s strategy

Lawyers representing Mashinsky have argued that he “did not intend to defraud or harm anyone” — and the claims he made in weekly videos to Celsius customers were done in good faith.

They are calling for testimony from six former executives within the company — including its chief financial officer. His law firm Mukasey Young wrote in a filing last week:

“In short, it appears that Mr. Mashinsky has been charged for acts and events as to which he had no knowledge, formed no criminal intent, and at times, even instructed the opposite. Mr. Mashinsky should be granted the opportunity to question the individuals whose conduct has been laid at his feet.”

The lawyers went on to warn that “the stakes are high” given the potential sentence that Mashinsky faces — and given that this could potentially be a life term, the former businessman should have the opportunity to gather evidence in his defense.

A key challenge for Mashinsky lies in how five of the witnesses cannot be subpoenaed by a U.S. court because they live abroad:

“An inability to obtain the testimony of these witnesses would result in a failure of justice.”

Creditors repaid

In recent months, work has been underway to compensate the customers locked out of their savings when Celsius went under.

Creditors have been receiving up to 85 cents on the dollar — considerably more than those owed money by other firms that have tipped into bankruptcy.

This is partly related to how the crypto markets have rallied in recent months, but nonetheless, a large chunk of the recovered funds have gone to the lawyers overseeing the Chapter 11 proceedings.

Receiving payouts has been a bittersweet experience for many victims. Although it ends many months of uncertainty, many would have ended up missing out on crypto’s recent rally.

Now out of bankruptcy proceedings, Celsius has been reborn as Ionic Digital, a company that’s focused on Bitcoin mining. The lender’s creditors are among its shareholders.

Last month, it was announced that a “state-of-the-art” facility had gone live in Texas that boasts over 15,000 miners — the first of four buildings to be created.

Figures from Ionic also show that the business also mined 1,331 BTC in the six months from February to July.

Despite this financial resolution, many of those caught up in the Celsius debacle will be watching Alex Mashinsky’s trial closely — with some submitting victim impact statements to explain how they were affected by the bankruptcy.

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Stablecoins have seen explosive growth in the last four years, increasing from a $17.6 billion market capitalization to $170.6 billion. The number of holders has also skyrocketed from 3.78 million to 119.72 million. However, this growth brings critical questions. How safe is it to hold stablecoins? How secure are the assets backing stablecoins? Could stablecoins pose a threat to traditional banking systems, and how might governments react to such competition?

Table of Contents

What is money?

The trust model

What is fiat money?

Why are the majority of stablecoins pegged to USD?

How do stablecoins maintain their peg?

The future of stablecoins and government action

Total market value of stablecoins by asset | Source: RWA.xyz

These are essential questions, yet they are often ignored. The TerraUSD (UST) collapse serves as a prime example, where only a small group of investors and analysts predicted its downfall before it finally happened. Many users simply trusted the system without questioning the true stability of the underlying assets. And, unfortunately, because of that blind trust, they lost a lot of money. Understanding the risks requires first exploring the broader concept of what money represents.

Number of stablecoin holders by asset | Source: RWA.xyz What is money?

Money = value. When a person buys a chocolate bar, they exchange money for that value. The merchant can then use the money to obtain the value they need in return. 

Money hasn’t always existed in the form of paper bills or digital currencies. In ancient times, people used cattle, leather, mollusks, wheat, and salt as mediums of exchange. Eventually, societies shifted to gold as a more standardized form of value. But imagine going to the store and buying a chocolate bar for the price of 0.0353 ounces (1 gram) of gold. This would require scales, cutting tools, and is simply not convenient.

So, the government created a model that worked this way: The government takes your gold in exchange it gives you money depending on the exchange rate. It was the Gold Standard, which happened first in England in 1816. In time, the government changed the model now they were printing money without anything backing it, which is where we are now. 

The trust model

The evolution from tangible value to paper money introduced a key factor: trust. Initially, people trusted the inherent value of a commodity like gold. Today, trust has shifted from something (gold) to someone (the government or central authority). Trust forms the basis of modern currency systems. Without trust, exchange would be impossible. For instance, no one would sell a house for a bag of rocks because rocks hold no universal trust or value.

Modern money, whether paper or digital, holds value only because of collective trust in the government or the central institution behind it. Without this trust, money would revert to being worthless pieces of cotton and linen.

What is fiat money?

The term “fiat” refers to a decree or order issued by someone in authority. When it comes to fiat money, its value stems not from any intrinsic property or commodity backing but from the government’s declaration that it holds value. In simple terms, money has value because the government says so.

Cons of fiat money

Fiat money has several critical weaknesses. It is centralized, meaning that trust is placed in the actions and integrity of banks and governments.

JPMorgan Chase data breach (2014): The data of 83 million accounts was compromised.

Wells Fargo scandal (2016): Over 2 million fraudulent savings and checking accounts were created without clients’ consent.

India’s demonetization (2016): Overnight, the government declared that 86% of the country’s currency circulation, 500 and 1000 rupee bills, was no longer valid.

Another problem with fiat money is excessive printing, which leads to inflation.

Germany (Weimar Republic, 1923): Prices doubled every two days during hyperinflation.

Brazil’s inflation (1985-1994): Prices increased by a staggering 184.9 billion percent during a decade-long crisis.

Venezuela (2015-2022): The cumulative inflation rate from 2016 to April 2019 reached 53.8 million percent.

So, several problems plague traditional money systems. First, paper currency can become worthless overnight due to governmental decisions. Second, the stability of money varies widely between countries. Inflation affects all currencies, but some experience it more severely, leading to rapid devaluation and loss of purchasing power.

But digital fiat money introduces its own set of issues. Banks operate on a fractional reserve system, meaning they hold only a portion of customer deposits in reserve. Laws and regulations, such as the Basel Accords and national banking laws, permit banks to lend out the majority of deposited funds. This practice transforms money into mere numbers on a ledger, essentially IOUs, without full backing.

The fractional reserve system also brings the risk of a bank run, where a large number of customers withdraw their funds at once due to fears about the bank’s solvency. Since banks do not hold all deposits in reserve, they often cannot meet the sudden demand for cash, which leads to panic and potential bank failure. 

Stablecoins operate on a different level from traditional fiat money but are not entirely immune to these issues either. Unlike fiat currencies, stablecoins like USDT, USDC, and DAI aim to maintain a stable value by being pegged to a fiat currency, usually the U.S. dollar. 

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Why are the majority of stablecoins pegged to USD?

Before understanding how stablecoins differ from traditional fiat money, we need to explore why the U.S. dollar holds such a dominant position. Why not the Swiss Franc or the Japanese Yen? Many would respond that the dollar is simply used everywhere, but the real question is why it became the world’s dominant currency in the first place.

The U.S. dollar’s dominance is due to its “exorbitant privilege.” As long as the dollar remains the world’s reserve currency, the United States avoids balance of payment crises. Through mechanisms like the Petrodollar system and the forced purchase of the U.S. Treasuries by foreign central banks, the U.S. could borrow cheaply and spend without immediate consequence.

The system allows the U.S. to print dollars and use them to buy real goods and services globally, exporting the inflation created to other countries. This is one reason developing nations often suffer from higher inflation—they absorb the inflationary effects of American monetary policy. In essence, the U.S. has a unique advantage in the global economy, trading printed money for tangible goods without immediately facing inflationary pressures domestically.

The Federal Reserve lowers interest rates or engages in quantitative easing to inject new dollars into the economy. Such actions increase the total supply of dollars circulating globally. U.S. governments, corporations, and banks benefit from the system by accessing cheaper credit, which leads to the creation of more dollars as loans are issued. Newly minted dollars are used to import goods from abroad, further pushing dollars into foreign economies.

Once foreign countries accumulate dollars, they face a critical choice. They can allow their own currency to appreciate against the dollar, but doing so would harm their export competitiveness. Alternatively, they can print more of their own currency to maintain its value relative to the dollar. However, this approach often leads to domestic inflation, creating a cycle in which foreign central banks must balance the value of their currency against the effects of inflation.

The U.S. benefits enormously from the global arrangement. When foreign countries accumulate dollars, they frequently invest them in U.S. Treasuries, which effectively lend money to government at low interest rates. The process helps the U.S. finance its deficit spending on war, infrastructure, and social programs. The U.S. can sustain such expenditures because foreign nations continue to buy its debt, driven by their need to hold dollars for trade and financial stability.

This is why the vast majority of stablecoins are pegged to the U.S. dollar, and almost the entire stablecoin market revolves around it as the anchor.

Fiat currency distribution in stablecoin market | Source: RWA.xyz

In just four years, the monthly transfer volume of stablecoins has increased from $202 billion to $3.6 trillion. 

Stablecoin transfer volume distribution | Source: Artemis Terminal

To put that into perspective, when compared with traditional finance, the U.S. dollar forex trade in 2022 reached $2,739 trillion, according to the Progressive Policy Institute. By 2024, it is reasonable to estimate that trade will grow to $3 trillion, translating to approximately $250 trillion traded per month. So, stablecoins already represent nearly 1.5% of the dollar trade.

How do stablecoins maintain their peg?

The vast majority of stablecoin market volume and capitalization is concentrated in three primary coins: USDT, USDC, and DAI. Each of these stablecoins employs different mechanisms to maintain their peg to the U.S. dollar. 

USDT

Tether (USDT) keeps its peg to the U.S. dollar through a system of reserve assets and strict issuance protocols. For every USDT token in circulation, an equal amount of value exists in reserve, typically held in cash, cash equivalents, and U.S. Treasuries. The reserves ensure that each USDT can be exchanged for one USD.

Tether total reserves as of Q2 2024 | Source: Tether

When demand for USDT grows, Tether issues additional tokens, matching them with the necessary reserve assets. In contrast, when users exchange USDT for USD, the tokens are destroyed to keep the supply in line with the reserves.

The peg always deviates slightly due to liquidity imbalances or shifts in supply and demand on exchanges. 

Tether price peg fluctuations | Source: CoinMarketCap

For instance, during periods of heightened market activity or stress, a sudden surge in demand for USDT could cause the price to rise above $1, as traders may pay a premium for quick access to a stable asset. Conversely, a rapid sell-off of USDT can lead to a brief dip below $1, as the supply temporarily exceeds demand.

Only entities that are verified and have an account with Tether can directly exchange USDT for USD. Typically, these entities are institutional clients, large traders, or exchanges. On the other hand, retail investors or smaller traders cannot redeem USDT directly from Tether. Instead, they usually convert USDT to USD on cryptocurrency exchanges.

However, controversy has surrounded Tether for years, and negative sentiment remains strong. One of the primary concerns revolves around the transparency of Tether’s reserves. Critics have questioned whether Tether has always maintained a full 1:1 backing for USDT tokens. In 2021, Tether settled with the New York Attorney General’s office after an investigation found that Tether had misrepresented the extent of its reserves in the past.

Another point of criticism is the lack of full audits by top-tier accounting firms. While Tether has started providing transparency reports on a quarterly basis, many are skeptical due to the absence of comprehensive audits by major global accounting firms.

Despite the controversies and skepticism, Tether remains extremely profitable due to its widespread use.  In the first half of 2024 alone, Tether reported a profit of $5.2 billion.

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USDC

USDC operates in much the same way as USDT. However, the key difference lies in USDC’s emphasis on regulatory compliance and transparency. (USDC) Coin conducts monthly audits through top-tier accounting firms to verify its reserves to ensure users that each USDC token is backed 1:1 by real assets. The audit process provides a higher level of confidence compared to Tether’s quarterly attestations, as it aligns more closely with regulatory standards in traditional finance.

Despite their differences in transparency and regulatory alignment, both USDT and USDC share one major characteristic: centralization. The issuers can freeze or block tokens in specific accounts in compliance with legal orders. Both stablecoins have a history of blocking addresses when required by law enforcement or government authorities, which adds a layer of control that conflicts with the decentralized ethos of crypto.

DAI

But unlike USDT and USDC, DAI is a decentralized, overcollateralized stablecoin. DAI (DAI) is not issued by a centralized entity but is instead generated by users who lock up cryptocurrency (such as Ethereum) as collateral. The system requires that the value of the collateral exceed the value of the DAI generated. So even if the collateral’s value fluctuates, DAI remains adequately backed. If the value of the collateral drops too much, it is automatically liquidated to maintain the peg. One of the major advantages of DAI is that it cannot freeze, block, or blacklist specific addresses.

The future of stablecoins and government action

At present, stablecoins already represent around 1.5% of the global U.S. dollar trade, but the real tipping point will come when that figure reaches a much higher level — somewhere between 5% and 15%. Once stablecoins capture that much of the market, governments will likely need to work in tandem with the issuers, creating a regulated environment that merges traditional finance with the growing crypto ecosystem. Governments could either embrace stablecoins as a way to enhance the global dominance of the U.S. dollar or respond with strict regulatory oversight.

While some may suggest that governments might try to make stablecoins illegal, that scenario seems unlikely. Stablecoins, especially those pegged to the U.S. dollar, further cement the global power of the U.S. currency, aligning with national interests rather than working against them. By maintaining the status of the USD in global transactions through stablecoins, governments are likely to see their value in reinforcing the American dollar’s position worldwide.

But the rise of stablecoins also raises questions about security and reliability. Holding traditional paper money presents its own risks, including inflation and devaluation. Digital money in banks is also vulnerable, as seen with events like bank runs or systemic failures. And stablecoins carry big risks as well. 

The collapse of TerraUSD, despite its entirely different structure from assets like USDT, USDC, and DAI; the situation with Silicon Valley Bank and USDC’s brief de-pegging in 2023, along with long-standing controversies surrounding USDT’s transparency, has shown that stablecoins are far from immune to market shocks and liquidity issues. While they offer some advantages, they are not entirely reliable for long-term wealth storage.

So, what should one hold? Following the TerraUSD collapse, it became clear that holding too much in any one stablecoin can be risky. A more balanced approach might involve holding assets that appreciate in value, such as stocks, bonds, BTC, ETH, SOL, or real estate while maintaining a small portion of cash or stablecoins for liquidity purposes. Ideally, this reserve should be enough to cover between 3 to 24 months of expenses, depending on one’s risk tolerance, and it could be kept in a high-yield savings account or through well-established decentralized finance platforms.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The U.S. SEC and Prager Metis have agreed to resolve claims of the auditor’s negligence related to the defunct crypto exchange FTX.

Auditor Prager Metis consented to pay $1.95 million to settle two charges brought by the Securities and Exchange Commission, alleging misleading reports created for Sam Bankman-Fried’s fallen crypto giant between February 2021 and April 2022.

The SEC said Prager fell below generally accepted auditing standards, failing to represent the “increased risk” caused by ties between FTX and its sister hedge fund, Alameda Research.

Because Prager’s audits of FTX were conducted without due care, for example, FTX investors lacked crucial protections when making investment decisions. Ultimately, they were defrauded out of billions of dollars by FTX and bore the consequences when FTX collapsed.

Gurbir S. Grewal, director of the SEC’s Division of Enforcement

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FTX and its founder, Sam Bankman-Fried, once dined with Washington’s elite and sought to craft digital asset regulations. The exchange was regarded as one of crypto’s biggest trading venues, alongside Binance and Coinbase.

That changed in 2022, when observers discovered the company’s falsified financial statements and commingled customer funds with corporate cash. 

A liquidity crunch ensued, and Bankman-Fried paused withdrawals at the exchange before declaring bankruptcy shortly after. The U.S. Justice Department extradited the former crypto tycoon to Manhattan, where a judge sentenced him to 25 years in prison.

Last week, SBF formally appealed the decision, claiming judicial bias in the case. His lawyers filed papers asking for a new trial, as Bankman-Fried insists he did not intentionally defraud thousands of investors of over $8 billion.

Read more: Sam Bankman-Fried demands new trial over FTX fraud verdict

The Sui Foundation has announced a new partnership with MoviePass, the U.S.-based movie subscription service. 

According to a press release shared with crypto.news, this collaboration will allow MoviePass users to pay for subscriptions with USDC (USDC), a widely used stablecoin. Sui (SUI), a blockchain platform, will soon integrate USDC into its ecosystem, enabling payments for MoviePass subscriptions and other Sui applications.

As part of the deal, Sui will also take an equity stake in MoviePass, signaling its confidence in the platform’s potential.

MoviePass, originally known for its all-you-can-watch $9.99 monthly plan, now offers a credit-based system to its users. The platform has been refocusing on innovation and technology, as evidenced by this partnership.

For those unfamiliar with blockchain or stablecoins like USDC, the technology allows for more secure and transparent transactions. Unlike traditional currencies, stablecoins are digital assets tied to a stable value, such as the U.S. dollar, making them less volatile than other cryptocurrencies like Bitcoin. (BTC).

By introducing these payment options, MoviePass aims to provide its users with more flexible and secure methods of payment.

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Crypto meets movie fans

The collaboration also promises to enhance fan engagement. Future developments include fan staking, where users can support films by investing in them directly. MoviePass also plans to offer on-chain rewards for users who engage with the platform, as well as opportunities to purchase digital collectibles, according to the release.

This is part of the larger Web3 movement, where digital assets are increasingly becoming part of everyday interactions, such as watching movies or participating in fandoms. MoviePass sees this partnership as a way to tap into a global moviegoing audience.

MoviePass CEO Stacy Spikes noted that Web3, the next phase of the internet built on blockchain technology, is crucial to expanding the movie experience. Fans will not only watch movies but also actively participate in the creative process by supporting films and earning rewards.

“Web3 is key to making moviegoing more accessible, and enabling it to reach a wider audience through deeper fan engagement and rewarding them through digital assets that can turn into physical value.” 

Stacy Spikes

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SquidGrow price is down 18% since hitting a new high on September 15, with the 24-hour price fluctuating just above $0.028.

The SquidGrow meme coin, which recently migrated its token from the Binance Smart Chain to a new contract on the Ethereum (ETH) network, fell sharply to lows of $0.025. The losses saw the SQGROW token touch its all-time low, with the price down 18% from its peak of $0.034 on Sept. 15.

Although SquidGrow’s price remained negative over the past 24 hours at the time of writing, it signals a potential upside with a retest of $0.028.

Can SquidGrow price mirror top coins?

The meme coin SquidGrow launched in June 2022, introduced by Shiba Inu (SHIB) whale Shibtoshi. It’s a meme coin that the community now claims is a utility-driven project that blends meme culture with diverse revenue streams.

SquidGrow’s price dip largely mirrored action across the crypto market, mainly as negative sentiment kept Bitcoin (BTC) below $58,000. However, as top coins surged ahead of the Federal Reserve’s projected 25 basis points interest rate cut, SQGROW’s price did not rise similarly.

The pressure remains after SquidGrow rose sharply following its successful migration to the Ethereum chain. 

A notable development after the upgrade, however, is crypto trading platform LBank announcing the delisting of SQUIDGROW. LBank notified users that it will not support SQGROW deposits and trading, with users urged to withdraw assets beginning Sept. 15

Wintermute plans to foray into the on-chain prediction market, with its first betting pool focused on the U.S. presidential elections.

The crypto trading firm and market maker Wintermute disclosed ongoing work on an on-chain betting platform, OutcomeMarket. The decentralized protocol will utilize Oracle technology from Chaos Labs to handle pricing and risk management.

According to the announcement, Wintermute’s prediction platform will launch with two tokens: TRUMP and HARRIS, representing the Republican and Democratic U.S. presidential candidates.

OutcomeMarket is said to debut on major blockchain networks like Ethereum (ETH), Coinbase’s Base, and layer-2 chain Arbitrum (ARB). The web3 startup added that tokens will appear across decentralized finance ecosystems and exchanges to better the trading experience.

Tokens via OutcomeMarket will be usable in DeFi and listed on multiple trading venues, expanding utility and improving accessibility for a broader audience

Wintermute on new U.S. election prediction platform

Own your outcome with OutcomeMarketWintermute is developing a permissionless smart contract for a new US presidential election prediction marketThe market will be accessible across Ethereum, Base, and Arbitrum, supported by @chaos_labs’s Edge Proofs OracleDebuting 2 tokens:… pic.twitter.com/N5IqvOqDaL

— Wintermute (@wintermute_t) September 17, 2024

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Wintermute eyes Polymarket’s arena, but CFTC oversight looms

Wintermute’s latest venture could look to take market share from Polymarket, one of the largest on-chain outcome betting platforms, with over $1 billion in election-related wagers.

Bloomberg integrated Polymarket’s election data into its terminal, further legitimizing decentralized prediction markets. This collaboration occurred despite regulations preventing U.S. bettors from using Polymarket.

The Commodity Futures Trading Commission has taken a firm stance against election betting contracts, arguing that big-money wagers may influence outcomes.

CFTC lawyers attempted to delay Kalshi from listing its prediction market, but a judge overruled it. Still, the regulator continues to challenge Kalshi in court.

In a Sept. 17 speech at Georgetown University, CFTC chair Rostin Behnam said the watchdog would also scrutinize offshore betting platforms with U.S. users. Behnam emphasized that the agency’s proposed ban on prediction markets is part of a fight against what it views as illegal activity and market manipulation.

Read more: Tough times for prediction markets: Kalshi wins case against CFTC, still faces shutdown

Yellow Network, a web3 blockchain platform for decentralized clearing of digital assets, raised $10 million in a seed round led by Ripple co-founder Chris Larsen.

The Ripple co-founder’s investment will help the Yellow Network team bring their blockchain solution to market and address challenges facing crypto traders. In a Sept. 17 announcement, Yellow Network said Larsen’s investment reinforces the network’s crucial role in the crypto space.

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What is Yellow Network?

Yellow Network’s clearing system is a layer 3 peer-to-peer protocol utilizing state channels to facilitate trading and settlement via smart clearing.

Decentralized clearing allows for the settlement of financial transactions between two parties without relying on centralized intermediaries, removing the need for a clearinghouse service typically seen in traditional finance.

The project, which is preparing for the launch of its native token, offers an ecosystem that supports decentralized finance experiences for digital asset exchanges, brokers, and traders.

YELLOW token expected in Q4

In March 2024, Yellow Network announced its partnership with Linea, the layer 2 network for decentralized applications. Yellow Network targets further collaborations and integrations in the crypto sector as it looks to bolster its DeFi penetration and overall trading ecosystem.

The platform launched the testnet for its P2P clearing protocol in December 2023, with the YELLOW token launch expected in Q4 2024.

Yellow Network’s seed round attracted participation from several venture capital firms and investors, including Consensys, Cobo, Moonrock, and NOIA Capital. Other strategic partners backing the project include Fireblocks, Assetum, Magmo, and Qredo.

Read more: Ripple co-founder endorses Harris for president: report

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Intel Markets is gaining attention as a promising presale altcoin, while Litecoin surpasses 1 quadrillion hashes per second, showcasing its network strength and security.

Table of Contents

Intel Markets: A new and cheap altcoin to bet on

Litecoin: 1 quadrillion hashes per second

Aptos: Further downswings on the cards

Conclusion

Amid the market bounce, Bitcoin’s hard fork, Litecoin (LTC), marked a key milestone. Per reports, the network surpasses 1 quadrillion hashes per second, highlighting its strength, security and expansion.

In other news, savvy investors have been betting on IntelMarkets (INTL) ahead of Aptos (APT). Unlike emerging cryptocurrencies with massive upside potential, the appeal of top altcoins typically ends with their popularity. Given INTL’s growth prospects, it might be a more compelling alternative than top crypto coins.

Intel Markets: A new and cheap altcoin to bet on

Intel Markets, one of the most promising initial coin offerings and a utility-backed token, is at the heart of the current market buzz. It has an edge over most established cryptocurrencies like Aptos and Litecoin, highlighting again why presale tokens are a key investment strategy.

As a new ICO, it is heavily discounted and currently in the first stage. It is priced at $0.009, providing a good entry. Industry experts project a 65x jump in value after its debut, primed to challenge the dominance of established cryptocurrencies.

Meanwhile, its key narrative is an AI-powered trading platform. It will be the first modern trading platform that features embedded trading robots at all levels. Unlike conventional blockchains based on old models, INTL will be AI-powered. It aims to further transform the $347 million global crypto trading market via dual-chain functionality (compatible with Solana and Ethereum), 1,000x leverage on select assets, autopilot trading robots and real-time data processing.

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Litecoin: 1 quadrillion hashes per second

Litecoin, a cryptocurrency popular for its fast, secure and low-cost payments, is among the top altcoins. The Bitcoin hard fork ranks as one of the top 20 cryptocurrencies, underscoring its leading status and market dominance. In recent news, the network witnessed a landmark development.

In a recent post on X (formerly Twitter), Litecoin announced the network is over 1 quadrillion hashes per second. Besides highlighting the network’s security, strength and resilience, it also suggests unparalleled expansion.

On the market side, the Litecoin price hovers above the $63 support, up by 4% on the weekly chart. With further gains anticipated and investors stockpiling, the Litecoin wallet has emerged as one of the safest ways to store assets away. 

Aptos: Further downswings on the cards

Aptos, a proof-of-stake (PoS) blockchain, can achieve 150,000 transactions throughput per second. Its novel smart contract programming language, Move, further makes it stand out in the blockchain scene. With a vision of bringing mainstream adoption to web3, it is often in the spotlight.

On the daily and weekly charts, the Aptos crypto price tumbled over 4%, trading around $5.8. It also trades on the downside on the monthly time frame, suggesting a decline in interest and optimism. With further downswing not out of the question, investors have been overlooking APT, choosing other more promising altcoins.

According to an Aptos price prediction, it might retest $4 before the end of Q3. On the other hand, a more bullish forecast points to a quick comeback, projecting a rally past $7 in the coming weeks.

Conclusion

Amid the key milestone of Litecoin, investors have been betting on Intel Markets ahead of Aptos, a top cryptocurrency. Its significant upside potential makes it a must-have coin, as does its impending transformation of the wider crypto trading scene.

To learn more about Intel Markets, visit the official website, and its Telegram and Twitter.

Read more: Next big player: Intel Markets outshines DOGE, SOL

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Grove City College is set to rename its School of Business in honor of alumnus Howard E. Winklevoss, father of Tyler and Cameron Winklevoss, following his $4 million Bitcoin donation. 

This contribution marks the college’s first gift of Bitcoin (BTC) and is aimed at supporting its business programs and ensuring the institution’s continued ability to provide quality education, according to a Grove City press release. 

Winklevoss, a 1965 graduate, is a notable academic and entrepreneur with a background in actuarial science and business technology. His career includes founding multiple companies, such as Winklevoss Consultants and Winklevoss Technologies, which was sold for $125 million in 2023.

Grove City College is a private liberal arts institution in Pennsylvania, known for its commitment to free-market economics and independence from federal funding.

Winklevoss credits his education at the Pennsylvania school for shaping his career. He met his wife, Carol, also a 1965 graduate, during his time at the college.

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Winklevoss and Bitcoin 

Winklevoss became interested in Bitcoin when his twin sons, Tyler and Cameron, introduced him to it in 2012.

Tyler and Cameron are prominent crypto entrepreneurs known for co-founding the cryptocurrency exchange Gemini and advocating for the adoption of digital assets.

Howard saw a connection between Bitcoin and sound money principles, which he first studied under economist Dr. Hans Sennholz at Grove City College. Sound money refers to a monetary system that is not easily manipulated or controlled by governments.

“I first learned about and became fascinated with sound money at Grove City College while studying under Dr. Hans Sennholz, a free-market, Austrian-School economist and professor who studied under Ludwig von Mises…When my twin sons, Cameron and Tyler, introduced me to Bitcoin 12 years ago, I immediately recognized and understood what (Bitcoin inventor) Satoshi Nakamoto had achieved. He had encoded these principles, which had been contemplated for over a century, into digital money. It, therefore, gives me great pleasure to donate the world’s soundest money to the school that first taught me about these concepts 60 years ago.”

Howard E. Winklevoss

This donation is part of a growing trend of using Bitcoin as a charitable gift to institutions. Although Bitcoin is often seen as a speculative digital asset, it has gained traction due to its decentralized nature, which allows transactions without the need for a central authority like a bank. 

Grove City College, known for embracing free-market economics, does not accept federal funding, making private donations like Winklevoss’ critical for its operations, according to the release.

The Winklevoss School of Business will focus on disciplines like Accounting, Finance, Marketing, and Entrepreneurship. Winklevoss hopes his donation will inspire future students to pursue excellence and make a positive impact in their fields.

Circle has expanded its stablecoin operations in Latin America to include Brazil and Mexico.

In a company statement, stablecoin operator Circle revealed that its (USDC) token can now be used to settle payments in Brazil and Mexico. The feature supports USDC conversion into Brazilian reais and Mexican pesos, and vice versa.

Brazilian and Mexican users no longer need to convert their fiat currencies to U.S. dollars before exchanging them for stablecoins.

Circle said businesses can acquire USDC from licensed financial providers for institutional use. The Sept. 17 announcement added that companies can also offer USDC, the second-largest stablecoin, to retail investors.

Circle now supports local bank transfers via PIX and SPEI, the national real-time payment systems in Brazil and Mexico. Eliminating international wires can drastically reduce the time it takes to access USDC – from days to just minutes, releasing capital trapped in the lengthy settlement processes.

Company statement on USDC support in Brazil and Mexico

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Circle moves to New York City

USDC’s issuer revealed its move to Brazil and Mexico days after relocating its global headquarters from Ireland to New York City. The company’s new office is located in the iconic One World Trade Center, solidifying its presence among Wall Street giants.

Shifting its headquarters to New York may be one of the final steps in pursuing an initial public offering. The company is reportedly planning to go public and could become the first stablecoin operator to list shares on U.S. stock exchanges.

Read more: Circle reportedly moving HQ to New York ahead of IPO