El Salvador became the first nation to accept Bitcoin as legal money in September 2021. Under the direction of Nayib Bukele, the government used Bitcoin in order to advance financial inclusion, expedite remittance payments, and strengthen the national economy. El Salvador started buying Bitcoin little by bit, buying one every day using a dollar-cost averaging approach.

El Salvador now has 5,865 Bitcoin, which it acquired at a cost of $43,877 on average. El Salvador's Bitcoin investment tracker indicates that the nation now has assets worth over $318 million, with the price of Bitcoin at $54,300. This shows that the success of the Bitcoin adoption generated a net $31 million profit in Bitcoin.

A $31 million Bitcoin profit boosts the economy of El Salvador
The successful acceptance of Bitcoin in El Salvador has resulted in notable financial advantages. The CEO of Peanut Trade, Alex Momot, claims that El Salvador's Bitcoin approach has produced noticeable results. "El Salvador's Bitcoin experiment can be seen as a success... it's clear that El Salvador has reaped some benefits," he said.

It has shown to be beneficial to hold Bitcoin and stick to a regular buying schedule. El Salvador's $31 million Bitcoin profit highlights the advantages of the nation's Bitcoin economic policy. The nation's Bitcoin holdings have enhanced Nayib Bukele's standing and the government's stance on cryptocurrencies.

As smaller countries embrace Bitcoin, larger economies tremble.
Although El Salvador has been successful in adopting Bitcoin, other larger economies have not done the same. Major economies are still hesitant, despite the fact that smaller countries—like the Central African Republic—became the second to accept Bitcoin as legal cash in April 2022.

Larger nations are not likely to take the same chances, according to Momot, because they depend on foreign creditors, who are generally opposed to the use of Bitcoin as legal cash. Though no real action has been taken, nations like Brazil have expressed interest in creating a legal framework for the adoption of Bitcoin.

El Salvador's Bitcoin Approach in the Face of Market Volatility
There have been difficulties in El Salvador's Bitcoin journey. After the FTX exchange failed in 2022, the price of Bitcoin fell to $16,000, losing El Salvador's investment. But the nation persisted in using a dollar-cost averaging strategy for Bitcoin, buying more of the cryptocurrency amid downturns in the market.

El Salvador's treasury website states that the nation possesses 5,865 Bitcoin, which is worth about $318 million.

$BTC
#BTC☀ #Bitcoin❗ #BinanceLaunchpoolHMSTR #GrayscaleXRPTrust #USNonFarmPayrollReport

Despite its historical association with Elon Musk, who was previously a significant force behind the memecoin's market fluctuations, Dogecoin's price has been pretty stable recently. The fact that The Dogefather hasn't been able to lead any significant rallies suggests that the cryptocurrency market may have developed past the level of celebrity endorsements. But now that Musk has openly backed Donald Trump and made fun of the acronym D.O.G.E. in his political quips, the cryptocurrency community might want to pay attention to the next election.

Investors in Dogecoin may be wondering what would happen if Trump loses the 2024 election when he runs against Vice President Kamala Harris. After all, the former president, who has positioned himself as a supporter of cryptocurrencies, has the power to influence the laws governing virtual currencies like Dogecoin.

Given this dynamic, let's investigate the potential effects of a Trump defeat on Dogecoin.

It's interesting to examine Elon Musk and Donald Trump's connection, particularly in light of cryptocurrency. Trump, who was an ardent opponent of cryptocurrencies during his first term, took a major turn in the run-up to the 2024 election and emerged as one of the first contenders who was supportive of them.

Furthermore, Trump positioned himself as the first "crypto president," announcing that he was pro-Bitcoin and even incorporating cryptocurrency donations into his campaign.

In the event that Donald Trump loses the 2024 election, Dogecoin will probably suffer. Trump has publicly supported legislation that would be beneficial to digital assets and has positioned himself as the candidate who is pro-crypto.

The loss of the previous US president would probably raise concerns about regulations once again, particularly under the Harris administration, which might not be as supportive of cryptocurrency. Furthermore, Gary Gensler would probably breathe a sigh of relief if Trump lost.

Furthermore, any pro-crypto momentum may be stifled by the change in governmental power, which would be detrimental to Dogecoin and other digital assets.

Elon Musk's political position might be weakened by a Trump defeat as well. Musk sided with Trump's beliefs and came up with the somewhat unoriginal nickname "Department of Government Efficiency" (D.O.G.E.). If Trump loses, Musk's influence over crypto legislation would decrease, which might negatively affect the attitude of the Dogecoin market.

Furthermore, it appears that the memecoin is become less susceptible to hype, as seen by the market's recent lack of reaction to Musk's Dogecoin-related shenanigans.

But if political winds pick up, there's a chance that Dogecoin volatility may flare up again, particularly if regulatory pressure builds. Dogecoin's future may depend on whether the cryptocurrency market keeps developing on the basis of usefulness rather than excitement or whether it once again opens itself up to outside political influences.

The descending triangle is seen by analysts as a negative continuation pattern. A flat lower trendline acts as steady but deteriorating support, while a dropping upper trendline compresses price movement into lower highs in this arrangement.

The pattern indicates increasing selling pressure, which leads to more feeble rallies that find it difficult to break through resistance.

By determining the triangle's greatest height, traders in this configuration assess the possible downside. The price of Pepe currency just broke out of its falling triangle, but bulls were able to pull it back inside the pattern.

However, the price of DOGE might drop by around 61% and reach a target close to $0.04 if the DOGE USD pair validates the bearish pattern.

Given the state of the market, a breakthrough below the pattern would damage DOGE values and perhaps lead to losses for the trading pair.

$DOGE

#doge⚡ #ElonMuskUpdates #ElonsMusk #DonaldJTrump #uselections

The Shiba Inu (SHIB) currency has had little fluctuation in price over the last few weeks, marking a period of stasis. The token is becoming less popular on social media, which might add to the market's lack of vigor.

The SHIB community's diminished excitement and the quiet price swings suggest traders are holding off on entering the market until the next significant event occurs.

Shiba Inu Chain Data Indicates a Pessimistic Attitude
On-chain activity for Shiba Inu (SHIB) has weakened, indicating a pessimistic outlook. A decline in open interest followed by a lull suggests that traders are not eager to take up new bets.

The decline shows that traders are hesitant to take on long or short token holdings.

The financing rate has been dropping concurrently. This declining trend suggests that traders are less confident in SHIB's future price movement, even though the funding rate is still positive.

When the funding rate declines, it usually indicates that traders anticipate lower prices in the near future, but the market has not yet reached the stage where longs are outpacing shorts.

Whales, or larger investors, have also decreased their holdings, indicating a lack of faith in the prospective price of the coin. The decrease in whale holdings implies that not even large holders have high hopes for SHIB's near future.

However, even while smaller retail investors have been making gains, their influence has not been sufficient to offset the ongoing unfavorable mood in the market as a whole.

The confluence of negative financing rates, stagnating open interest, and diminishing whale holdings underscores the prevailing pessimistic outlook for SHIB. The token may continue to see negative pressure unless these patterns exhibit indications of reversal, thus traders should exercise caution when thinking about taking up new holdings.

SHIB Price Cannot Break Through EMA Resistance
The fact that the SHIB USD pair was unable to break above its 20-day EMA (red wave) trendline indicates that bears were putting up a strong fight to hold the dynamic barrier. On September 12, the token had a 1.6% decline, underscoring the weakening of the SHIB market.

The price of the Shiba Inu coin may rise to the resistance around $0.0000143 before aiming for the resistance at $0.0000156 if the memecoin breaks above the EMA trendline.

On the other hand, SHIB price would probably challenge the support levels around $0.0000128 and $0.000012 if there was a downturn from here.

The SHIB coin's RSI stayed neutral at 46.33, emphasizing the absence of positive momentum in the price movement of the token.

$SHIB
#shiba⚡ #SHIBAUSDT #shibainu14october2024 #BinanceLaunchpoolHMSTR #BinanceTurns7

Ripple has clearly shifted its focus from individual investors to institutions. According to business analyst Jake Claver, XRP holders individually have little influence on Ripple's profitability. As a result, the business is focusing on cross-border transactions with major financial institutions and governments, removing itself from initiatives fueled by retail adoption.

"Ripple's main objective is to facilitate institutional-grade transactions and cross-border settlements with speed and efficiency, while retail investors can hold XRP and use the XRP Ledger," Claver said.

The Ripple Institutional Strategy Is the Main Event
The business declared earlier this year that its RLUSD stablecoin, which is only intended for institutional customers, will be launched. After that, in August, the coin went into beta testing, and Ripple CTO David Schwartz stated that retail consumers would not be able to purchase it.

Nonetheless, there are still problems with the XRP Ledger environment. The market capitalization of XRP Ledger has dropped to a record low of $80 million, according to XPMarket CEO Artur Kirjakulov.

MVRV Ratio and Whale Activity Signal Market Movements
Furthermore, XRP Whales have been actively participating in the market. Whale addresses with between 10 and 100 million XRP have amassed more than 330 million XRP, or around $177 million, in the last week. This buildup suggests that there may be a short-term price increase.

Such whale behavior has historically affected the success of the XRP market; substantial accumulations typically indicate a bullish mood.

Furthermore, there has been a significant spike in the Mean Coin Age (MCA) indicator, which calculates the duration of time XRP has been in wallets. This demonstrates that long-term holders are holding onto their XRP, suggesting that investor confidence is rising.

The MVRV ratio reached 81.03% in mid-March, indicating that many XRP investors had made money and had probably cashed out. When the ratio dropped to 10.66% in early August, the majority of investors were probably losing money and holding out for better deals. The MVRV ratio recovered to 50.65% by mid-Aug, indicating a return of investor confidence.

$XRP
#XRPGoal #XRP_ETF #XRPVictory #BinanceLaunchpoolHMSTR #GrayscaleXRPTrust

The coin described here will be listed on Binance as soon as possible, with trade opening at 12:00 (UTC) on September 26, 2024. It is probably deceptive advertising if someone says they can sell this token before the deadline. To guarantee that your money is secure, please conduct independent research!

Likewise, Binancians

Binance is thrilled to present Hamster Kombat (HMSTR), the 58th project on Binance Launchpool. Developed on the Telegram mini-app platform, Hamster Kombat is a P2E game that simulates the CEO of a cryptocurrency exchange. It is anticipated that the webpage will be accessible a day ahead of the Launchpool start time.

In order to get HMSTR Airdrops over a seven-day period, users will be able to lock their BNB and FDUSD. Farming will begin on September 19, 2024, at 00:00 (UTC).

Listing: HMSTR will be listed on Binance on 2024-09-26 at 12:00 (UTC) and trading pairs HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY will be available for trade. HMSTR will receive the seed tag.

Binance Super Earn
To take advantage of the Special APR, users can additionally lock HMSTR in Simple Earn Locked Products.

Details of HMSTR Launchpool:

Name of Token: HMSTR (Hamster Kombat)

Supply of Tokens in Total: 100,000,000,000 HMSTR

3,000,000,000 HMSTR (or 1.00% of the total supply) are the launchpool token rewards.

Details of the Ton Network Smart Contract (to be upgraded)

Terms of Launchpool: KYC is necessary

Hard Cap for each user hourly:

In the BNB pool, 1,517,857.14 HMSTR

267,857.14 HMSTR in FDUSD pool

Supported Pools: Lock BNB, which will have a website available in about a day, will award 2,550,000,000 HMSTR (85%).

The portal for Lock FDUSD will be accessible in about 24 hours. The awards are 450,000,000 HMSTR (15%).

Harvest Time: September 19, 2024, 0:00 (UTC) until September 25, 2024, 23:59 (UTC).

#hamsterkombat24 #Launcpoll #LAUNCHPOOLTOKEN #BinanceLaunchpoolHMSTR #GrayscaleXRPTrust

Chinese industry news and cryptocurrency market data company Feixiaohao is allegedly the subject of an inquiry by the local authorities.

As part of an ongoing investigation in Inner Mongolia, an autonomous area of northern China, a number of top executives of Feixiaohao are allegedly under arrest, according to a story published on August 28 by Chinese cryptocurrency journalist Colin Wu on his channel Wu Blockchain News.

Wu referenced a WeChat post from a local crypto channel that stated the Inner Mongolia police have detained "many key members of the Feixiaohao team" in order to conduct an investigation.

The purported investigation's motivations are unknown.

The largest simplified Chinese cryptocurrency market statistics website was established in August 2017, as stated on Feixiaohao's official website.

The website was sometimes referred to as the CoinGecko of China. CoinGecko is a significant international platform used to track the market capitalization of over 14,000 cryptocurrencies.

Wu's sources claim that Feixiaohao's purported inquiry has been going on for more than six months, but the probe's motivations are now unknown.

Wu observed, "Many of Feixiaohao's exchange partners said they were unable to reach them."

Feixiaohao was contacted by Cointelegraph for comment about the purported investigation and the arrest; but, at the time of writing, no answer had been received.

The website has continued to publish fresh items in the news section despite the announcements of the arrests; the most current pieces are dated August 30.

Feixiaohao remained operational during China's 2021 "great Bitcoin ban."

Data from SimilarWeb, a website that analyzes traffic, indicates that in July 2024, Feixiaohao received about 200,000 views each month. China was the country that received the most visitors last month, making about 23% of Feixiaohao's total visits worldwide.

China's user base for Feixiaohao may be regarded as substantial, particularly in light of the mainland's strict policies regarding the cryptocurrency market.

In September 2021, the People's Bank of China (PBoC), the country's central bank, formally implemented a series of regulations aimed at curbing the cryptocurrency market's growth in mainland China.

The Chinese prohibition on cryptocurrency, according to industry insiders, did not threaten local cryptocurrency media, even though prominent crypto news sites like ChainNews went down in November 2021 without giving an explanation.

It's unclear if offering crypto information services in mainland China was ultimately declared unlawful, as numerous industry-related Chinese news outlets have so far continued to run.

#China #CoinGecko #investigation #TON #TelegramCEO

A lawsuit accusing Elon Musk and his electric car startup, Tesla, allegedly manipulating the price of Dogecoin and causing losses of $258 billion has been dismissed.

Judge Alvin Hellerstein of the United States District Court for the Southern District of New York dismissed the complaint on August 29.

Hellerstein said that the defendants had falsified a number of Musk's tweets concerning Dogecoin, including his claims that he would take on the role of formal CEO and that he may place a "literal" Dogecoin inside a SpaceX rocket and launch it to the moon.

$DOGE

A group of irate Dogecoin investors sued Tesla and Musk in June 2022, claiming they were entitled to an astounding $258 billion in damages.

Dogecoin's price increased by "more than 36,000% over two years," according to the investors, who then said Musk should have let it fall. Additionally, they asserted that Musk had "managed and operated the Dogecoin Pyramid Scheme using his pedestal as the richest man in the world."

On March 31, Musk filed a motion to have the case dismissed. In a federal court in New York, his attorneys called the allegations and the $258 billion damages demand a "fanciful work of fiction."

After hearing of the termination on August 29, the price of Dogecoin did not move; it had only increased by 0.1% on the previous day. According to CoinGecko statistics, Dogecoin is now trading for $0.10 and has decreased 20% over the past month.

#doge⚡ #DogecoinCommunity #TON #DOGSONBINANCE #BNBChainMemecoins

An analyst stated that although cryptocurrency traders are excited about a possible altcoin season, it won't go exactly as planned as novice traders would rush to purchase the riskiest assets too soon.

Lead analyst James Check of Glassnode stated, "The joke has been told, everybody knows the punchline, and they've just gone straight to the punchline, and it is just not funny anymore," in an edition of the Rough Consensus podcast broadcast on August 29.

Traders made an effort to beat the market.
Check claimed to have outsmarted the market by purchasing the most popular memecoins as soon as possible after examining trading behavior during the 2021 bull run and comparing it to 2024.

Memecoins have historically surged around the end of a larger market rise, but this time the assets have been rising more quickly than in previous bull runs.

Check outlined the "everything bubble" of 2021, which included the stunning capital waterfall, L1s, DeFi, Bitcoin, Ethereum, and monkey JPEGs, among other things. He said that a lot of people who were new to cryptocurrency had discovered that buying the most foolish coin was the fastest way to get the most money.

Check stated that once spot Bitcoin exchange-traded funds (ETFs) were approved on January 10, traders started swinging for the fences with memecoins, using the significant increase in Bitcoin's price.

Traders went directly to PEPE.

$PEPE

"They went straight to PEPE token" rather than purchasing assets farther up the risk curve or app utility tokens.

reported incredible gains in the first half of 2024, with a few traders realizing returns that were quite mouthwatering. One astute PEPE trader gained $46 million on May 15, more than 15,718 times the initial $3,000 investment he made in April.

Check said that "there was this gap in the middle where no one touched anything," despite the fact that the price of PEPE and other significant memecoins, such Dogwifhat (WIF), was surging.

However, some experts and traders see the declining cryptocurrency prices along with lower-than-expected trading volumes as a bullish indication for future price movement.

Crypto trader Luke Martin stated that "altcoins [are] currently at the'sell your house to buy more' level" to his 331,500 X followers on August 29.

According to Martin, Bitcoin's price increased sixfold in the second half of 2020, when it was at this point in the summer.

In the next six months, the price "went vertical from 10k to 60k," according to Martin.

#pepe⚡ #PEPEATH #AltcoinInvesting #altseason2024 #TON

Against all odds, a lone Bitcoin miner has just struck gold by processing a block of Bitcoin and earning little under $200,000 in compensation.

The Bitcoin block explorer Mempool.space reports that at 4:21 PM UTC, the miner completed processing block number 858,978. The miner earned $3.27 Bitcoin, or $199,094 at current rates, for their work in processing the 2,391 transactions in the block.

Notably, the Solo CK Pool—a unique kind of solo mining pool—was the miner in charge of processing the block.

When the block was solved, the Solo CK miner used 456 petahashes of hashrate, according to statistics from Mempool.space.

With the network hashrate averaging 665 exahashes per second (EH/s) at the moment, the transaction processing miner was operating at a rate of around 0.012% of the average hashrate.

According to BitInfoCharts, the hashrate of Bitcoin reached an all-time high of 754 EH/s on July 23.

In spite of its name, the SoloCK "pool" solely gives the reward to the miner that solves the block; it does not aggregate the hashrate of smaller miners.

In the last year, the miner has solved 14 Bitcoin blocks and earned 59.3 Bitcoin, or $3.5 million at the current exchange rate.

Solo miners seldom succeed in validating a block because major mining companies like Riot Blockchain and Marathon Digital, which command enormous quantities of hash power, are so well-known.

Out of the 859,000 blocks generated since the launch of Bitcoin 14 years ago, a lone miner processing a block successfully is so uncommon that it has only happened about 290 times.

According to a March 2023 Cointelegraph article, a lone miner successfully solved a block and received the full 6.25 BTC reward. But at the time, the prize was worth about $150,000, and the price of Bitcoin was significantly lower.

The most recent block to be solo-mined was block 853,742, which was solved on July 25. The prize for solving this block was about $210,000.

$BTC

#BTC☀ #btcmining #TON #DOGSONBINANCE #BNBChainMemecoins

Since its introduction in January, BlackRock's Bitcoin exchange-traded fund (ETF) has seen its second outflow day.

According to Farside Investors statistics, the iShares Bitcoin Trust ETF (IBIT) witnessed a net outflow of $13.5 million on August 29. This is the second net outflow the fund has seen since May 1, when it saw a net outflow of $36.9 million. That May 1 outflow was also the worst joint outflow day ever for the Bitcoin ETFs, totaling $563.7 million.
On August 29, a combined $71.8 million was taken out of the 11 Bitcoin ETFs with US bases.

The Fidelity Wise Origin Bitcoin Fund (FBTC) had the greatest net withdrawals of the day, $31.1 million, placing BlackRock's fund third. With $22.7 million in outflows, the Grayscale Bitcoin Trust (GBTC) secured the second position.

IBIT's outflow day coincides with its greatest net inflow since July 22, when it reported $526.7 million in inflows, on August 26. The inflow was $224.1 million.

The only ETF to have net inflows on August 29 was Cathie Wood's ARK 21Shares Bitcoin ETF, which had $5.3 million enter the fund.

The most recent withdrawals from Bitcoin ETFs coincide with a wider decline in the cryptocurrency's value, which, according to CoinMarketCap, has dropped by about 3.43% over the past seven days to trade at $58,751.

On August 29, spot Ether ETFs headquartered in the United States had a small combined outflow of $1.7 million, with several funds experiencing no flows at all.

The only ETF to record a net inflow was the Grayscale Ethereum Mini Trust (ETH), which came in at $3.6 million, but it was unable to stop the $5.3 million in net withdrawals from its sister trust, the Grayscale Ethereum Trust (ETHE), which has higher fees.

Since its debut in July, Grayscale's Ethereum Trust has seen net outflows almost every day, totaling $2.56 billion.

According to CoinMarketCap, the price of ETH has also been declining, falling 5.64% over the past seven days to $2,517.06.

$BTC
$ETH
#BTC☀ #ETHETFsApproved #BTCETFSPOT #TON #DOGSONBINANCE

You may have seen intriguing adverts on social media that promised quick money through bitcoin trades. These advertisements seem to be everywhere these days. A lot of these ads are scams meant to deceive you into parting with your hard-earned cash.

The rapidly expanding bitcoin market has increased the number of con artists, making it more challenging to tell what is phony and what is real. To safeguard your money from thieves, this article shows how to spot bitcoin scam adverts.

Identifying social media scams using cryptocurrency
Scam advertisements aimed at deceiving cryptocurrency fans and stealing their funds may be found everywhere. There are a ton of adverts on social media platforms like Facebook, Instagram, X, and TikTok that promise enormous returns on bitcoin investments.

These advertisements are skillfully made to catch your eye and provide the idea that financial freedom is just a click away. But the majority of these are simply fraudulent scams created by con artists attempting to embezzle your money.

By now, you may be wondering how fraudsters take advantage of people on social media. Scammers typically take advantage of people's tendency to be more psychologically at ease when browsing social media since they know that an expertly constructed advertisement or strong suggestion may induce you to act impulsively.

Were you aware? Crypto frauds thrive on social media. More than $1 billion was lost in 2023 as a result of frauds that started on websites like Facebook, Instagram, and X.

kinds of ads for cryptocurrency scams
There are three categories for the most prevalent cryptocurrency scam ads:

Giveaways: Giving away free tokens is a common feature of both giveaways and airdrops. Giveaways, however, usually come with less limitations. It might be necessary for you to "deposit" a modest sum in order to "qualify" for such prizes. It goes without saying that once the money is sent, it cannot be retrieved. Even if there are legitimate airdrops, it is still important to exercise caution before accepting any offer.

Investment offers: These frauds aim to deceive investors by presenting them with substantial profit margins. But frequently, they are Ponzi schemes, where the money from fresh investors is utilized to pay back the original investors.

Phishing scams: Phishing scams are bitcoin advertisements that deceive people by posing as trustworthy enterprises or services. Con artists craft compelling advertisements or websites that closely resemble authentic ones in order to fool you into providing sensitive information or your secret keys. After your money is given to them, fraudsters might take it, making recovery challenging.

Were you aware? Phishing schemes continue to be the most common danger in the cryptocurrency space, making up more than 70% of all reported incidents in 2023.

Scams that pose as dating: These cryptocurrency scam advertisements aim to lure you into an online, distant relationship where the other person gradually builds trust and persuades you to part with your cryptocurrency, either through a single transaction or a series of them. Eventually, the con artist vanishes with the money.

Typical indicators of cryptocurrency scam advertisements
Scam ads using cryptocurrency frequently have similar characteristics. To assist you avoid being a victim of these scams, the following is a summary of the warning signs to look out for:

Unrealistically optimistic promises: Advertisements that promise unreasonably large profits with little to no risk need to be taken seriously. Investing in real estate carries considerable risk at all times. Recall that "reward for taking the risk is profit."
Celebrity endorsements: To win your faith, con artists pose as well-known individuals in phony advertisements. These advertisements make up the story that famous people have contributed to or promoted a scammer's cryptocurrency scheme.

Pressure tactics: Phishing cryptocurrency advertisements fabricate a scene of immediacy. Phrases like "limited time offer" or "only a few spots left" are used by scammers to trick you into transferring them cryptocurrency or personal information without giving it much thought.
If there is no information available about the team behind a project, it's a warning sign that they might be anonymous or fraudulent team members. To avoid being detected, scammers frequently adopt false identities or remain anonymous.

Untrustworthy websites and social media: Scam advertisements sometimes lead to badly constructed websites with scant content and faulty connections. Typically, their social media profiles are rather fresh, with few followers and ambiguous, irrelevant content.

Verified X accounts with blue checkmarks are occasionally hacked by scammers in order to send tweets or advertisements. They take this action to give the posts credibility because the platform's blue checkmark denotes reliability.

Examples of ad-based cryptocurrency frauds
To demonstrate how these advertisements might result in frauds, let's examine a few instances of cryptocurrency scams on social media.

Mandiant hacking
Hackers gained access to the X account of Mandiant, a cybersecurity business that Google owns, in January 2024. The hackers altered the handle and name of the account to Phantom and @phantomsolw, respectively, and disseminated fraudulent links that purported to provide 250,000 users with free PHNTM tokens.

The YieldTrust.ai fraud
The cryptocurrency trading platform YieldTrust.ai was accused of operating a fraud by Texas and Alabama officials in April 2023. Regulators claim that the platform made false claims on social media about its trading bot's ability to execute "70 times more trades with 25 times higher profits than any human trader could." The assertion was false, according to an independent audit, because the coding stopped customers from accessing their own money. Later, YieldTrust.ai's X account and website were closed.

How con artists utilize social media to find their targets
Scammers use the same characteristics and capabilities that draw people to social media platforms—widespread connection, instant communication, and tailored content—to target their victims. They carry out their fraudulent acts as follows:

Techniques fraudsters employ to disseminate adverts

Social media fraudsters are adept at tricking people by fusing real information with fake content, such as by using:

Sponsored posts: Just like real companies, threat actors often use sponsored posts to target audiences. They may seem as authentic in your feed and be noticed by users who otherwise might not have seen their material by paying to promote it.

Influencer collaborations: By collaborating with or impersonating influencers, some con artists pass for authentic ventures. They could pay influencers to publicize their fictitious project or cryptocurrency, or they might make up phony accounts that look real by imitating well-known influencers.
False accounts: Con artists create fake accounts that seem like well-known figures or authentic companies. Through sincere messaging exchanges, these accounts may build confidence before attempting to steal money or personal information.

Deepfakes: Deepfakes are artificial intelligence systems that produce remarkably lifelike images, sounds, or text. With the use of this technology, con artists may create material that is remarkably convincing, which facilitates the manipulation and deception of consumers using social engineering techniques.

Algorithms: Social media algorithms are susceptible to manipulation by con artists. They provide striking visuals, interesting text, and persuasive messages that are likely to get to the top of your feed due to algorithmic cues.

technologies for targeting: Threat actors, like marketers, can use these technologies to target certain age, geographic, interest, or behavioral groups. By using these strategies, they may specifically target vulnerable groups that are more prone to fall for schemes aimed at making fast money.

AI bots: Scammers utilize AI bots to covertly post, message, and remark on social media sites to spread the word about scams, creating the false appearance that the scheme is well-liked or generally accepted. By like, sharing, and commenting on postings, bots may engage in real-world interaction with individuals while amplifying the visibility and authenticity of fraudulent communications.

How to avoid being tricked by cryptocurrency scammers
By practicing caution and forming beneficial routines like the following, you can spot cryptocurrency scam online:

Using skepticism and critical thinking: In the digital age, when cybercriminals are always lurking around, it's important to keep a healthy level of skepticism. Consider all offers carefully and from a variety of angles before making a choice. It is best to steer clear of anything that appears too wonderful to be true. Prior to contributing funds or sensitive personal information, assess the initiative and its supporters. Remember that sincere offerings are often concise and unambiguous.

Keeping up with the latest fraud types: Since scammers' techniques are continually evolving, it's critical to stay informed about the most recent developments in cybersecurity. You may also guard against bitcoin fraud by routinely visiting reliable cryptocurrency news sites and participating in online forums where people share their experiences with forthcoming projects and airdrops.
By using these techniques, you may spot cryptocurrency ad frauds before they cause issues.

Keeping an eye out for cryptocurrency frauds is essential.
Although it may seem difficult to deal with advertisements that lead to cryptocurrency scams, you may protect yourself by being cautious and keeping up with the most recent developments in crypto fraud. Watch out for red flags, such unlikely allegations, expectations for quick response, or questionable teams.

Make sure what you're seeing on the screen is correct before making an investment. You will be well-equipped to escape the internet traps established by bitcoin fraudsters if you trust your instincts and conduct your due diligence.

#ScamAware #scamriskwarning #scammeralert #TON #DOGSONBINANCE

XRP's price decrease today may be attributed, among other things, to a choppy risk-on mentality ahead of Nvidia's results and cautious sentiment in the futures market.

As of today, XRP has dropped almost 3% to about $0.56 in the previous day, following other negative trends in the cryptocurrency market as the Nvidia earnings announcement was approaching.

The crypto market was set in motion by Nvidia's results.

When the $3.2 trillion chipmaker Nvidia gets ready to disclose its earnings report following the closing of the US market on August 28, all eyes will be on it. Analysts predict that the current quarter will see a 70% increase in sales due to the spike in demand from the artificial intelligence industry.

Because of this link, the overall trajectory of cryptocurrencies is similar to the erratic trend of the Nasdaq, which is driven by the Nvidia earnings countdown.

XRP open interest and declining financing rates
According to CoinGlass data, XRP's losses are correlated with steep drops in financing rates and open interest (OI) in its futures market.

XRP futures open interest as of today was about $616.88 million, down from $679.81 million the day before. The XRP futures financing rates, which are determined every eight hours, decreased to -0.0102% from 0.0101 during that time.

The unwinding of bullish bets or a loss of trust in the direction of the market are indicated by the fall in XRP OI. It can also mean that, in reaction to the recent drop in price, some traders are trimming losses or taking gains.

Negative funding rates, however, show that short bets are now the majority. When financing rates are negative in future markets, traders will be more pessimistic since shorts will compensate longs to maintain their positions.

Technicals for XRP point to a future increase.
The current falls in XRP are a component of a corrective trend that is taking place inside its dominant ascending triangle pattern.

Notably, similar to other declines, the cryptocurrency has retreated by almost 10% after hitting the top trendline of the triangle as resistance.

With an eye toward a comeback to the higher trendline level at about $0.63, XRP is currently probing the bottom trendline of the triangle as support as of August 28.

The comeback scenario is also supported by XRP's daily relative strength index, which is making higher lows while staying within the neutral reading range of 30 to 70.

$XRP
$BTC
#Xrp🔥🔥 #XRPGoal #BTC☀ #CryptoMarketMoves #TelegramCEO

Those who bought NFTs only a few years ago could be regretting their choice.

The concept of non-fungible tokens, or NFTs, has evolved.

At the height of the NFT hype cycle, it seemed as though digital artwork craze may sweep the globe.

NFT collections that caught the cultural zeitgeist, such CryptoPunks and Bored Apes, gained popularity in 2021 and 2022. A number of celebrities, including Madonna, LeBron James, Tony Hawk, and Justin Bieber, purchased artwork, making news in popular media.

At the MTV Video Music Awards, Snoop Dogg and Eminem gave a performance as the avatars of the Bored Ape Yacht Club.

American socialite Paris Hilton discussed her passion for NFTs on The Tonight Show with Jimmy Fallon in January 2022.

A few months later, in May 2022, the market reached its peak, with a $526 billion market capitalization. The market's current valuation is 97% lower, at about $18 billion. How are the NFT investments doing as of right now?

CryptoPunk 5822

One of the biggest and most well-known NFT series ever offered is CryptoPunks. The 10,000-strong collection of 24x24 pixelated "punk" figures was introduced on the Ethereum blockchain by Larva Labs in 2017, and it played a significant role in starting the crypto art trend.

Christie's of London sold nine CryptoPunks at auction in 2021 for a total of $16.9 million. Christie's claims that Blade Runner, the London punk movement, and William Gibson's 1984 cyberpunk novel Neuromancer served as inspiration for the CryptoPunk collection.

CryptoPunk 5822 sold for 8,000 Ether ETH, or $23.7 million, on February 12, 2022. Deepak Thapliyal, the CEO of Chain, a blockchain financial startup, bought it. A mere month thereafter, Thapliyal declined an offer of 10,000 ETH for his artwork, which could have yielded an almost instantaneous $2 million profit.

There are only nine extraterrestrial CryptoPunks in the world, including CryptoPunk #5822. Another alien CryptoPunk, #635, sold for $12.4 million in April 2024 when it was listed for 4,000 ETH, while in March 2024, alien CryptoPunk #3100 sold for 4,500 ETH. These transactions suggest that in just two years, Thapliyal's investment has nearly halved in value.

While interest in Ether has not decreased, it may have in CryptoPunks. The value of 8,000 Ethereum in February 2022 was only $23.7 million. 8,000 ETH is currently worth $26.6 million.

EtherRock 93

EtherRock is an assortment of 100 "Pet Rocks" that were created in 2017 using a free ClipArt picture. While they differ in color, every rock in the EtherRock line is the same size and form. The rarest EtherRock kind is blue, yet the majority of rocks are gray or brown.

EtherRock #93, a typical gray rock, sold for 420 ETH on November 2, 2021. Why did the buyer decide to part with the absurdly exorbitant amount of $1.8 million for this simple JPEG? The quantity of Ethereum paid could hold the key to understanding what motivated them.

Comparing prices isn't too difficult because EtherRocks are almost the same. Currently, an EtherRock is traded for about 200 ETH, which is about $750,000 to $800,000 less than it was in 2021.

That is a significant amount of money lost.

Bored Ape 8817

The Bored Ape Yacht Club is perhaps the NFT collection that did the most to promote the industry to the general public.

Bored Apes were huge in 2021 for a hot minute. They were just everywhere. Sports personalities, entertainers, and business moguls like Mark Cuban of Shark Tank were among the collectors. Actress Gwyneth Paltrow, who won an Oscar, even owned one. At least twelve were gathered by DJ and music producer Steve Aoki, however he has subsequently reduced his group to just seven.

Sotheby's said on October 26, 2021, that Bored Ape 8817 had sold for an unprecedented $3.4 million. The main selling point was that just 1% of bored apes had gold fur.
Around that time, other golden apes went for comparable prices. In September 2021, Bored Ape #3749, dubbed "The Captain," sold for $2.9 million, while Bored Ape #232 brought in $2.9 million, or 1,080 Ethereum. The Ape was later sold by its owner, Thapliyal, for 800 ETH, resulting in a tidy loss of 280 ETH, or $730,000 at the current price of Ether.

Golden Bored Ape #1726 sold for merely 275 ETH, or $665,000., on February 12. Many investors are waiting on unrealized losses in the millions of dollars if that transaction is representative of the worth of other golden apes.

Things worsen.

It's probable that investors who put money into less well-known businesses fared much worse. A dappGambl analysis from September 2023 showed that 69,795 of the 73,257 NFT collections it found had a market cap of 0 ETH.

DappGambl came to the conclusion that 95% of NFT collectors have zero-valued investments.

On the other hand, "rekt" collectors can counter that it is simplistic to just consider the NFTs' pricing. After all, art is not only for price speculation—it's for the soul. Beyond aesthetics, the blockchain technology supporting NFTs has also shown to be reliable from a technical standpoint.

Millions of NFT collectors may be taken away from them, but their digital certificate of ownership, which is irreversibly recorded on the blockchain and shows that the JPG you right-clicked and saved to your hard drive isn't truly yours, cannot be taken away.

#NFT​ #Cyberpunk #BoredApeYachtClub #ETHETFsApproved #TON

With cutting-edge blockchain technology, web3 gaming seeks to compete with established stores like Steam and the Epic Games Store.

The promise of blockchain gaming, which draws in close to 3 million users every day, has the gaming community buzzing. Discussions on whether blockchain may eventually challenge or even replace well-known platforms like Steam and the Epic Games Store have been prompted by the popularity of blockchain in the gaming industry.

For ease of use, dependability, and user experience, traditional platforms have set the bar high, winning over millions of players globally. On the other hand, despite its innovation, Web3 gaming still has a long way to go before it becomes as widely accepted.

Present-day difficulties with Web3 gaming
Web3 gaming has great potential for a decentralized, player-driven future, but before it can reach its full potential, a few important concerns must be resolved:

intricate user interface

The intricacy of Web3 gaming is a challenge for novice players. Blockchain gaming frequently necessitates traversing numerous systems, each with its own setup, such as digital wallets, non-fungible token (NFT) marketplaces, and in-game awards. This is in contrast to traditional platforms, where everything from purchasing to gameplay is connected effortlessly. This disjointed experience might be too much for newbies, who could find the technological requirements difficult to handle.

Absence of motivation onchain

A lot of Web3 games only provide the basic game elements as incentives. The added benefits that traditional games frequently provide to keep players interested are absent from many Web3 games, which detracts from the overall appealing gaming experience.

fragmented Web3 groups

The dispersed nature of Web3 gaming communities across several platforms is a challenge for both players seeking out new games and creators seeking to establish a connection with their target audience. The development of a cohesive, active gaming community is hampered by this fragmentation.

Incomprehensible login procedures

The one-click simplicity that gamers anticipate is absent from Web3 gaming. Conventional platforms reduce the barrier between wanting to play and actually playing by providing simple updates, seamless synchronization, and intuitive login processes. Blockchain games, on the other hand, sometimes need complicated verification procedures and manual installations, which makes them inaccessible to players who value simplicity.

Resolving issues with Web3 gaming
The transition to Web3 gaming presents a number of options, notwithstanding the difficulties. Developers are striving to streamline user interfaces, incorporate blockchain features into unified platforms, and simplify user experiences as the industry changes. With each passing day, these advancements close the gap between Web2 and Web3 gaming, increasing the accessibility and allure of blockchain gaming for a larger range of users.

GGEM, a Web2 and Web3 blockchain gaming platform, intends to address existing Web3 gaming problems with its Web3 game launcher and infrastructure that was introduced on Berachain. To provide a better Web3 launcher for developers and gamers, the platform set up four fundamental pillars:

simplified interaction with the user

The launcher for GGEM is meant to be just as user-friendly as conventional Web2 platforms. If you've ever used the Epic Games Store or Steam, GGEM will look familiar. Simplifying the user journey, everything from game administration to wallet handling and NFT transactions takes place on one platform.

Integrated platform

Players may trade NFTs, keep track of their custodial wallets, and synchronize their gameplay across many titles using GGEM's one-stop shop. The platform makes sure that progress and achievements are monitored easily, which improves the gameplay experience in general.

missions and prizes in-game

With the help of the launcher, games may incorporate in-game missions thanks to GGEM's software development kit (SDK). Once a task is finished, players instantaneously get rewards in their custodial wallets. This system encourages a variety of games that are offered on the platform and keeps gamers interested.

Another kind of incentive is provided by GGEM's events and competitions, which also offer rewards to active players. Additionally, GGEM will provide a free option to rent NFTs from any game that has been included.

Community integration and developer tools

Developers may easily synchronize their games with the launcher by using the tools that GGEM offers. Using a variety of admin tools, developers may personalize their game sites to make their games unique. Furthermore, by connecting Web2 and Web3 players, GGEM creates a platform where players can quickly discover new games and creators can interact with an audience. This promotes a more cohesive gaming community.

What Web3 has to offer
A number of games that have joined the GGEM platform have discovered that established Web2 platforms such as the Epic Games Store, or standard Web3 solutions, are not the best fit for their particular requirements. The extensive technological solution and wider scope of GGEM have successfully filled up these gaps.

The SDK for in-game missions is one noteworthy feature that gives players extra rewards and increases awareness for different titles on the platform. With Web3 and Web2 games, this feature can increase player engagement and help creators reach a larger audience.

Considering the future
There is a lack of a unified infrastructure in the Web3 gaming market today. It is difficult for players to discover new game titles, learn how to utilize other platforms, and make the switch from Web2. When developing unique solutions, game creators encounter hefty expenses and technological difficulties.

GGEM seeks to address these problems by developing a comprehensive Web3 gaming environment. Web2 and Web3 players will be able to discover and play new games without any restrictions thanks to the GGEM Launcher, which will function as a full ecosystem. GGEM promises to simplify development tools and provide a more cohesive game experience by improving accessibility and engagement for Web3 gaming.

GGEM's long-term objective is for Web3 gaming to be smoothly included into the larger gaming community. By removing the complexity of Web3 and offering a uniform platform, GGEM is simplifying and enhancing accessibility to gaming for all users.

#Web3Eco #web3_binance #CryptoMarketMoves #TelegramCEO #BNBChainMemecoins

Although it's unclear if the SEC will take legal action against OpenSea, the marketplace's CEO claimed authorities "think NFTs on our platform are securities."

The US Securities and Exchange Commission (SEC) and its chair, Gary Gensler, have been under fire from leaders and advocacy organizations in the cryptocurrency and blockchain industries for sending a Wells notice to the non-fungible token (NFT) marketplace OpenSea.

On August 28, OpenSea CEO Devin Finzer said that the NFT platform received a warning from the SEC regarding a possible enforcement action. Though it's unclear if the SEC would pursue action against OpenSea, the Wells notice was one of the rare occasions the US agency has contemplated classifying an NFT as an unregistered security within its jurisdiction.

According to Ji Kim, chief legal and policy officer of the Crypto Council for Innovation (CCI), "the SEC's assertion that NFT platforms should be regulated as securities exchange is not only legally flawed but utterly ridiculous" was posted on August 28 on X.

An entertainment firm was accused by the SEC of engaging in unregistered securities sales using NFTs in 2023. At the time, SEC Commissioner Hester Pierce voiced concerns, suggesting that the agency ought to have made it clear whether the tokens met the requirements for securities classification.

"Every collectible is a security if NFTs are securities," stated Katherine Minarik, chief legal officer of Uniswap Labs. "And it's evidently against the law."

In the event that the SEC decides to take an enforcement action, Finzer promised to “stand up and fight” any accusations and said the platform will pay up to $5 million in legal expenses for NFT inventors and developers in comparable situations. Sheila Warren, the CEO of CCI, said that Gensler, who had not yet made a public statement on the matter, had "spurred" Wells' notification.

Gensler has led enforcement efforts against many cryptocurrency and blockchain companies, including Binance, Coinbase, Ripple, and Kraken, for suspected breaches of securities laws since joining the commission in 2021. Even though Gensler's term ends in June 2026, a number of people have urged the US presidential contenders to address his tenure prior to the election in November.

Since Gensler was chosen by US President Joe Biden, Kamala Harris, the Democratic contender for president, is prohibited from openly criticizing any policy from the government while running for office. On the other hand, if reelected, Republican Donald Trump declared that he planned to dismiss the SEC Chair "on day one."

Representative Wiley Nickel of North Carolina said on X that he was "extremely disappointed to see [the SEC]'s continued regulation by enforcement, now targeting NFT marketplace OpenSea." "Instead of continuing down this route, the SEC and Gary Gensler ought to collaborate with Congress to create just and transparent rules that support innovation and preserve jobs in the United States."

#NFT​ #TON #BNBChainMemecoins #DOGSONBINANCE #TelegramCEO

The second-largest currency in the world is being accumulated by "ether whales," or massive holders, and market watchers believe that its local price bottom may be approaching.

According to CryptoQuant statistics published by well-known analyst Satoshi Sniper in an Aug. 26 X post, ether whales have amassed over 200,000 Ether in the last four days, valued at over $540 million.

The whale purchases occur in spite of Ether's weak price movement, which saw the token drop more than 4% in the day before it traded at $2,627 at 12:37 p.m. UTC on August 27.

Large holders' purchasing habits are frequently used by traders to determine the attitude towards the underlying asset. Because whale transactions involve large sums of capital, they can have a big impact on the price of an asset.

Despite the spot Ether exchange-traded funds' (ETFs) slow progress in the US, cryptocurrency whales are nonetheless piling up Ether.

According to statistics from Farside Investors, the nine US spot Ether ETFs have had total net outflows of $478 million since their introduction. This amount is expected to cross the $500 million mark this week.

Most of the withdrawals were from the Grayscale Ethereum Trust ETF, which has shed $2.5 billion in Ether since the ETFs' July 23 launch.

Investors expected the introduction of the Ether ETFs to result in a large price spike. When Bitcoin (BTC) crossed the $50,000 threshold on February 15, spot ETFs made up around 75% of all new investments in the cryptocurrency.

Research analyst at Fineqia International Matteo Greco said that the cumulative trading volume of Ether ETFs indicates that traditional investors' appetite is still a ways off.
$ETH
#EthereumEFT #ETH🔥🔥🔥🔥 #etherreum #TelegramCEO #CryptoMarketMoves

According to reports, American authorities are approving Nasdaq's request to provide options on a Bitcoin index.

In an effort to provide traders and institutions with an alternative method of hedging their exposure to Bitcoin, the exchange operator declared on August 27 that it intended to introduce index options based on a Bitcoin index.

In the paper, Bitwise Chief Investment Officer Matt Hougan stated that options for Bitcoin are necessary for the asset class to completely stabilize. The CEO said that exchange-traded fund (ETF) options will fill up a gap in the "liquidity picture."

With the use of options, traders may purchase or sell assets like as stocks, indices, and exchange-traded funds (ETFs) at a predetermined price on a certain date. This enables traders to increase their purchasing power and institutions to hedge risks.

The CME CF Bitcoin Real-Time Index, created by CF Benchmarks, would serve as the foundation for the suggested Bitcoin Index Options. The index monitors contracts for Bitcoin futures and options on the trading platform operated by CME Group.

No options investment products linked to the spot Bitcoin ETFs launched in January have yet to get approval from the US Securities and Exchange Commission. This includes asset manager BlackRock submitting an application to Nasdaq to trade options on the iShares Bitcoin Trust (IBIT) ETF.

The statement was made after the greatest daily net inflow in 35 days was observed in BlackRock's spot Bitcoin ETF. IBIT reported a net inflow of $224.1 million on August 26, which was the ETF's highest since July 22. The incident implies that investors are probably profiting from a brief decline in the price of bitcoin following a surge.

The 10 US spot Bitcoin ETFs had a combined daily net inflow of $202.6 million thanks to inflows from BlackRock's IBIT. The overall net outflow of funds from other issuers, including Bitwise, Fidelity, and VanEck, was $32.1 million.

Coin investment products, however, had the most inflows in the previous five weeks. Data released by investing business CoinShares shows that from August 18 to August 24, there was a $533 million weekly influx into digital asset investment products.

$BTC

#BTC500K #Bitcoin❗ #TelegramCEO #CryptoMarketMoves #BinanceBlockchainWeek