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Bitcoin continues to face challenges in recent weeks, as persistent bearish sentiment has pushed the perpetual swaps market into negative funding rates territory, according to a report by K33 Research.

Based on historical market data, analysts from the research firm argue that this negative trend could signal a potential bottom for the cryptocurrency.

Perpetual Funding Rates And Market Bottom

The report, authored by Vetle Lunde and David Zimmerman, suggests that the recent negative funding rates offer an optimistic perspective on BTC’s future price action.

Notably. the perpetual swaps market, which allows traders to speculate on the price of Bitcoin without owning the asset, has experienced negative funding rates for the first time since March 2023.

Negative funding rates occur when traders pay to hold long positions, reflecting strong bearish sentiment. According to K33 Research, this is the seventh time since 2018 that average 30-day funding rates have flipped negative, and previous occurrences have often signaled market bottoms.

The K33 analysts highlight that when 30-day average funding rates turned negative in the past, Bitcoin showed strong performance in the following months.

The data reveals that average 90-day returns after negative funding rate flips stand at 79%, with a median return of 55%. This historical precedent is key to the analysts’ bullish outlook for BTC as the year progresses.

Furthermore, the K33 analysts believe that BTC could be setting up for a positive price movement toward the end of 2024.

They point to the rise in open interest in perpetual swaps, nearing its highest level since late July, as a potential catalyst for short squeezes.

For context, a short squeeze occurs when traders who have bet against Bitcoin by shorting it are forced to buy the asset to cover their positions, potentially driving the price higher.

External Factors Shaping Bitcoin’s Outlook

In addition to on-chain data, the report discusses external market influences that could affect Bitcoin’s price trajectory. The correlation between BTC and the S&P 500 has reached a 23-month high of 0.67, meaning that broader economic factors will likely impact Bitcoin.

K33 analysts believe that upcoming events such as the Consumer Price Index (CPI) release and the Federal Reserve’s Federal Open Market Committee (FOMC) meeting on September 18 could significantly shape BTC’s short-term price movements.

The analysts also consider several other factors that could contribute to Bitcoin’s potential recovery later in the year. These include the expected Federal Reserve pivot on interest rates, the US presidential election, repayments related to the FTX collapse, and delayed effects of Bitcoin’s supply halving.

The conclusion of the supply overhang and positive seasonality effects are seen as additional elements that could help push BTC higher.

Featured image created with DALL-E, Chart from TradingView

Банк России объявил сроки, согласно которым цифровой рубль внедрят в финансовую систему. Компании с годовой выручкой более 30 млн рублей должны будут принимать оплату в цифровых рублях с 1 июля 2025 года в обязательном порядке, указал регулятор.

As the world of meme coins continues to evolve, both investors and crypto enthusiasts are turning their attention to the next big thing. Floki Inu (FLOKI), a token that gained massive attention in the past, is now facing competition from a rising star in the meme coin sphere: GoodEgg (GEGG). With Floki Inu’s latest airdrop of Simon’s Cat (CAT) tokens, investors are noticing new developments in the meme coin ecosystem. However, GoodEgg (GEGG)’s recent announcement of its AI-driven dating app has created a buzz, shifting the focus towards its innovative platform.

Floki Inu (FLOKI) Completes Simon’s Cat Airdrop

Floki Inu (FLOKI) made headlines with the successful completion of the Simon’s Cat (CAT) airdrop. This airdrop provided FLOKI holders with CAT tokens directly into their wallets, simplifying the distribution process. Eligible holders on platforms like Binance and OKX received their share, based on their Floki Inu (FLOKI) holdings, without needing to connect external wallets or manually claim the airdrop.

The ease of this distribution process has been well-received by the FLOKI community. However, despite the positive news, the current FLOKI price has dropped 4.75% in the last 24 hours, reflecting the broader bearish sentiment in the crypto market. Floki Inu (FLOKI) is currently trading at around $0.0001214, but the crypto community remains optimistic about the token’s potential for recovery.

GoodEgg (GEGG) Steals the Spotlight with AI Dating App

While Floki Inu (FLOKI) is cementing its position with airdrops and institutional support, GoodEgg (GEGG) has emerged as a disruptive force in the meme coin market. Its unique concept combines cryptocurrency with social impact, and now, with the announcement of its AI-driven dating app, GoodEgg (GEGG) is becoming a top contender in the space. The “Play 2 Date” platform allows users to engage in dating activities and earn $GEGG tokens, merging entertainment with financial rewards.

The announcement of the AI dating app has shifted the focus from traditional meme coins like Floki Inu (FLOKI) to more utility-based tokens like GoodEgg (GEGG). This shift has also attracted the attention of whales who are now diversifying their portfolios by investing in GoodEgg’s presale, which is currently offering impressive 100x potential returns. With its innovative approach, GoodEgg stands out from the crowd and is set to revolutionize the meme coin sector.

FLOKI’s Institutional Backing and Future Potential

Despite the rise of competitors like GoodEgg (GEGG), Floki Inu (FLOKI) remains a solid player in the meme coin market. Analysts have pointed out that FLOKI’s strong institutional backing gives it an edge over rivals like PEPE and SHIB. With continuous developments and a supportive community, Floki Inu (FLOKI) is expected to weather the current market downturn and potentially see significant gains in the future.

Crypto analysts believe that Floki Inu (FLOKI) is forming higher lows, a technical indicator often seen as a positive sign for potential price recovery. This, coupled with the growing institutional interest, could signal a new growth cycle for the meme coin.

GoodEgg vs. Floki Inu: The Future of Meme Coins

While Floki Inu (FLOKI) continues to maintain its position with strong institutional support and successful airdrops like Simon’s Cat (CAT), GoodEgg (GEGG) is gaining ground by offering a unique blend of cryptocurrency and real-world utility. The AI-powered dating app from GoodEgg adds an innovative twist to the meme coin space, creating a compelling case for investors who are looking for more than just speculative gains.

As both tokens evolve, the competition between Floki Inu (FLOKI) and GoodEgg (GEGG) will likely shape the future of the meme coin market. Investors will be watching closely to see whether FLOKI can maintain its momentum or if GoodEgg will take the lead with its AI-driven platform.

Conclusion

Floki Inu (FLOKI) has proven its strength in the meme coin market with successful airdrops and solid institutional backing. However, the introduction of GoodEgg’s (GEGG) AI-driven dating app has introduced a new dynamic, attracting attention from both whales and retail investors. As the meme coin market continues to evolve, both Floki Inu (FLOKI) and GoodEgg (GEGG) offer unique opportunities for growth, and it will be interesting to see which one dominates in the coming months.

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Floki Inu (FLOKI) has been a staple in the meme coin market for some time, but now, a fresh face is catching the attention of the FLOKI community. GoodEgg (GEGG), a Play-2-Date cryptocurrency, has just completed 70% of its Stage 1 presale in record time, positioning itself as a serious competitor in the meme coin sphere. As whales and early investors shift focus, it’s clear that GoodEgg (GEGG) is gaining traction and could surpass even the likes of Floki Inu (FLOKI) in terms of growth potential.

Floki Inu (FLOKI): The Meme Coin Giant

Floki Inu (FLOKI) has built its reputation on strong community support and institutional backing, which have helped the coin remain resilient in a volatile market. However, despite its recent 9.15% increase in volume, Floki (FLOKI) has struggled to maintain upward momentum. Currently trading at $0.0001226, Floki (FLOKI) is facing challenges in breaking through its resistance levels, as it hovers below the 50-day EMA.

Floki Inu (FLOKI) has also faced fluctuations over the past week, but some indicators suggest a possible trend reversal. With the MACD and momentum indicators flashing bullish signals, analysts believe that a rise to $0.0001306 could be on the horizon if buying pressure intensifies. Yet, even as Floki (FLOKI) prepares for a potential rally, the focus is slowly shifting toward GoodEgg (GEGG) as the new favorite among meme coin enthusiasts.

GoodEgg (GEGG): A Growing Attraction in the Meme Coin Space

GoodEgg (GEGG) is emerging as a standout in the cryptocurrency world, offering a unique Play-2-Date model that integrates blockchain technology with virtual dating. The concept allows users to earn $GEGG tokens by participating in dating activities and engaging with the community. With the presale reaching 70% completion at a price of $0.00015, investors are flocking to get in early on this innovative project.

GoodEgg (GEGG) brings more than just entertainment; it’s a platform that uses AI-powered technology to create a safe and transparent dating ecosystem. As the world’s first Social-Fi token for dating, GoodEgg (GEGG) provides users with a secure space to connect, backed by blockchain verification, ensuring transparency and trust in online interactions.

Unlike many meme coins, GoodEgg (GEGG) offers real-world utility. Its decentralized dating platform, combined with a gamified experience, allows users to earn rewards, unlock NFTs, and climb the social scoring system. This unique approach has attracted a wave of interest from investors, many of whom are part of the Floki Inu (FLOKI) community.

Floki (FLOKI) Faces Stiff Competition from GoodEgg (GEGG)

Floki Inu (FLOKI) may have held its ground as a leading meme coin, but GoodEgg (GEGG) is quickly capturing attention with its innovative features. The shift from Floki (FLOKI) to GoodEgg (GEGG) signals a broader trend in the cryptocurrency market, where investors are looking for projects with long-term utility and real-world applications.

As the Floki Inu (FLOKI) community welcomes this new contender, GoodEgg (GEGG) is set to disrupt the meme coin space with its cutting-edge AI technology and Play-2-Date model. With 70% of its Stage 1 presale already completed, GoodEgg (GEGG) is positioning itself as a major player in the world of decentralized finance and online dating.

Conclusion: The Future Looks Bright for GoodEgg (GEGG)

Floki Inu (FLOKI) has been a dominant force in the meme coin sector, but with new competitors like GoodEgg (GEGG) on the rise, the market is evolving. GoodEgg’s unique blend of social-fi, gaming, and AI-powered dating is attracting both meme coin enthusiasts and investors looking for real-world utility. As GoodEgg (GEGG) completes 70% of its presale, it’s clear that this new token is here to stay.

While Floki (FLOKI) continues to hold a significant place in the meme coin community, the future may belong to projects like GoodEgg (GEGG), which offer a combination of fun, utility, and long-term growth potential.

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As the crypto market continues to evolve, innovative projects are emerging to challenge established giants like Bitcoin and Ethereum. Two such projects, Sui (SUI) and GoodEgg (GEGG), are making waves in the industry, with analysts predicting that these Web3 leaders have the potential to reshape the crypto landscape. While Sui (SUI) continues to develop its layer-1 blockchain network, GoodEgg (GEGG) is disrupting the meme coin and Social-Fi space with its unique AI-powered platform.

Sui (SUI): A Layer-1 Blockchain Poised for Growth

Sui (SUI), a layer-1 blockchain, has had a turbulent time in recent weeks but remains a promising project with the potential to break out. While the broader market has faced bearish pressure, Sui (SUI) has shown resilience, recovering 12.1% in value over the past seven days. Despite this recovery, Sui (SUI) is still vulnerable to the ongoing market downtrend. Many investors are cautious, with the altcoin currently facing significant outflows due to selling pressure.

As of September 2024, Sui (SUI) boasts a massive market cap of $2.49 billion, making it a formidable player in the Web3 space. However, with increased competition and shaky market sentiment, the future outlook for Sui (SUI) is uncertain. The token has struggled to maintain momentum, with many traders questioning whether it can continue to perform in a volatile market. Nevertheless, with its strong technological foundation and growing developer ecosystem, Sui (SUI) remains a project worth watching.

GoodEgg (GEGG): The AI-Powered Meme Coin

While Sui (SUI) is focused on creating a scalable and secure blockchain network, GoodEgg (GEGG) is taking a different approach by combining meme coin culture with cutting-edge AI technology. GoodEgg (GEGG) is the first cryptocurrency to introduce a Social Scoring system within the meme coin space, leveraging artificial intelligence to reward users for their social interactions on its “Play-to-Date” platform. This innovative model has attracted a strong community of investors, leading to an impressive 180% surge in value in September.

GoodEgg (GEGG) has completed 70% of its Stage 1 presale in just one day, selling over 2.4 billion tokens at $0.00015 USDT. The platform’s focus on blending cryptocurrency with real-world utility through its dating app is gaining traction, positioning GoodEgg (GEGG) as a potential leader in the meme coin sector. As the market shifts toward projects with tangible use cases, GoodEgg (GEGG) is well-positioned to capture the attention of both retail and institutional investors.

Sui (SUI) and GoodEgg (GEGG): A Revolutionary Duo

Both Sui (SUI) and GoodEgg (GEGG) are at the forefront of the Web3 revolution, each offering unique value propositions that set them apart from traditional cryptocurrencies. While Sui (SUI) continues to develop its layer-1 blockchain capabilities, providing a solid infrastructure for decentralized applications, GoodEgg (GEGG) is pioneering a new era of meme coins by incorporating artificial intelligence and social engagement into its platform.

The ongoing market pressure on Sui (SUI), driven by bearish sentiment, hasn’t stopped the project from capturing investor interest. With a healthy trading volume and consistent growth, Sui (SUI) is poised to make a comeback, especially as it aims to reclaim the $1 level. Meanwhile, GoodEgg (GEGG) is showing that meme coins can offer more than just speculative gains. Its AI-driven platform and social scoring system provide real-world value, making it a strong contender in the rapidly evolving crypto space.

Investor Sentiment: Diversifying with Sui (SUI) and GoodEgg (GEGG)

As more investors seek to diversify their portfolios, projects like Sui (SUI) and GoodEgg (GEGG) are gaining traction. Sui (SUI) offers long-term growth potential through its robust layer-1 network, while GoodEgg (GEGG) provides immediate rewards through its gamified social platform. The combination of these two projects highlights the diversity within the crypto market, appealing to both tech-focused investors and those looking for meme coin excitement.

With the market sentiment shifting and new technologies being developed, Sui (SUI) and GoodEgg (GEGG) are well-positioned to lead the next wave of innovation in the crypto sphere. Whether you’re interested in blockchain scalability or AI-powered meme coins, both projects offer compelling reasons for investors to take notice.

Conclusion

As Sui (SUI) and GoodEgg (GEGG) continue to make strides in their respective sectors, they are poised to revolutionize the crypto market. Sui (SUI)’s focus on layer-1 scalability and GoodEgg (GEGG)’s innovative approach to meme coins make them both leaders in the Web3 space. With strong community support and unique value propositions, these cryptocurrencies are set to reshape the future of the crypto sphere. Investors should keep a close eye on these rising stars as they continue to disrupt the market and offer exciting new opportunities for growth.

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The cryptocurrency market has been bustling with activity as new and innovative projects continue to emerge, and one of the biggest highlights in recent days has been the performance of Sui (SUI). Sui, a blockchain project founded by former developers of Meta Platforms, has experienced a remarkable surge of 21% after breaking through a major resistance level, reigniting interest among investors. Now, with GoodEgg (GEGG) completing 70% of its Stage 1 presale in just one day, the question arises: Could GoodEgg follow in Sui’s footsteps and deliver an equally impressive rally?

Sui (SUI): A Rising Star in the Blockchain Space

Sui (SUI) has quickly gained a foothold in the cryptocurrency space, positioning itself as a contender to challenge larger networks like Ethereum. With a market capitalization of $2 billion, Sui (SUI) has already secured a spot among the top 40 cryptocurrencies, driven by its advanced technological foundation. Investors are drawn to Sui’s potential to replace Ethereum as a leading Layer-1 blockchain network, thanks to its impressive scalability and transaction speed.

Over the past two days, Sui (SUI) has gained 21%, surpassing a key resistance point and attracting the attention of both retail and institutional investors. This surge can be attributed to the increasing adoption of its blockchain platform, as well as broader market optimism fueled by advancements in artificial intelligence (AI) and decentralized finance (DeFi). The growing interest in Sui (SUI) demonstrates that investors are starting to look beyond Bitcoin and Ethereum, seeking new opportunities with high-growth potential.

GoodEgg (GEGG): The Next Big Meme Coin?

While Sui (SUI) is making waves in the Layer-1 blockchain space, GoodEgg (GEGG) is quickly becoming the focal point in the meme coin and Social-Fi sectors. GoodEgg (GEGG) combines the viral appeal of meme coins with real-world utility, making it a standout in an increasingly crowded market. The coin’s Play-2-Date (P2D) model allows users to earn rewards through social interactions and dating activities, making it more than just a speculative asset.

What has truly set GoodEgg (GEGG) apart is the tremendous interest in its presale. In just one day, GoodEgg (GEGG) completed 70% of its Stage 1 presale, selling over 2.4 billion tokens at the price of $0.00015 USDT. This early success has caught the attention of investors who are looking for the next big project with long-term growth potential.

Unlike many meme coins that rely solely on hype and community-driven efforts, GoodEgg (GEGG) integrates AI into its platform, adding value through personalized social experiences and interactive dating features. Its combination of meme culture, utility, and AI-driven technology creates a strong foundation for future growth, making it an attractive option for investors seeking both entertainment and financial rewards.

The Sui (SUI) and GoodEgg (GEGG) Connection

While Sui (SUI) and GoodEgg (GEGG) operate in different sectors of the cryptocurrency market, both projects are benefiting from the broader trends of technological innovation and investor appetite for new opportunities. Sui (SUI) has proven its capability to rise through technical resistance and gain market traction, driven by its innovative blockchain architecture. At the same time, GoodEgg (GEGG) has demonstrated its ability to captivate investors with its unique blend of AI, social finance, and cryptocurrency rewards.

The success of Sui (SUI) in recent days serves as a potential blueprint for GoodEgg (GEGG) as it continues to gain momentum. If GoodEgg (GEGG) can maintain its early presale success and deliver on its promises of a revolutionary Play-2-Date platform, it could see a similar price surge in the near future. Investors who recognize the parallels between Sui (SUI) and GoodEgg (GEGG) may see both projects as complementary parts of a diversified portfolio, each offering distinct growth opportunities in the blockchain and Social-Fi spaces.

The Road Ahead for Sui (SUI) and GoodEgg (GEGG)

As the cryptocurrency market continues to evolve, both Sui (SUI) and GoodEgg (GEGG) are poised to play significant roles in their respective sectors. For Sui (SUI), the challenge will be maintaining its momentum and continuing to develop its ecosystem to compete with more established Layer-1 networks. For GoodEgg (GEGG), the focus will be on leveraging its early presale success to build out its platform and deliver real-world utility to its users.

In conclusion, as Sui (SUI) experiences a 21% surge and continues to climb in market value, GoodEgg (GEGG) is also well-positioned to follow suit, particularly as it closes in on the completion of its Stage 1 presale. Investors looking for high-growth opportunities should keep a close eye on both Sui (SUI) and GoodEgg (GEGG) as they continue to shape the future of blockchain technology and cryptocurrency.

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In the highly competitive memecoin space, Floki (FLOKI) has long stood as one of the most well-known projects. However, with the rise of a new contender GoodEgg (GEGG), investors are starting to shift their focus. Floki’s price action has been positive, but whales seem to be gravitating towards GoodEgg’s hybrid Play-2-Date and Social-Fi platform, which has already captured significant market attention.

Floki (FLOKI) Sees a Modest Price Pump

Floki (FLOKI) recently saw a 3.3% price pump, which has given its community hope for more significant gains in the near future. The Shiba Inu-themed meme coin is currently trading at $0.0001283, with analysts projecting that there could be more bullish movement on the horizon. Floki has been consistently in the spotlight, particularly after its collaboration with BSC-based meme coin Simon’s Cat, which sparked excitement in the community.

Floki holders are also preparing for an airdrop of CAT tokens, a move expected to further drive engagement. The collaboration with Simon’s Cat is part of Floki’s continued efforts to enhance its ecosystem, offering additional value to holders while maintaining its P2E (Play-to-Earn) focus with games like Valhalla.

While the fundamentals of Floki remain strong, analysts are now cautioning that GoodEgg’s unique blend of real-world utility and meme culture could overshadow Floki’s future prospects.

GoodEgg (GEGG) Attracts Whales with Its Hybrid Model

GoodEgg (GEGG), a Play-2-Date cryptocurrency, has become a formidable player in the memecoin space. Unlike Floki (FLOKI), which primarily focuses on its P2E ecosystem, GoodEgg has introduced a hybrid model combining elements of Social-Fi, Play-2-Date, and artificial intelligence (AI) technology. This innovative approach is helping GoodEgg carve out a niche in the market that not only appeals to crypto traders but also to individuals seeking meaningful social interactions in a gamified environment.

The GoodEgg (GEGG) presale has already completed 70% of its Stage 1 round, with tokens priced at $0.00015. Whales have started taking notice, shifting their focus from traditional meme coins like Floki (FLOKI) to this new and promising hybrid model. The platform offers users the ability to earn tokens by engaging in virtual dating activities, which sets it apart from other projects that rely solely on speculative trading or gaming.

GoodEgg’s unique proposition has drawn both casual investors and institutional whales, with many speculating that it could be the next big thing in the memecoin market. Its hybrid utility makes it more versatile than Floki, which is primarily anchored to its P2E ecosystem.

Why GoodEgg (GEGG) Could Outpace Floki (FLOKI)

While Floki (FLOKI) continues to secure partnerships and enhance its ecosystem with initiatives like Simon’s Cat and Valhalla, it remains heavily dependent on the memecoin hype cycle. GoodEgg (GEGG), on the other hand, is positioning itself as a more sustainable project with long-term potential. By merging AI-driven dating features with blockchain technology, GoodEgg offers a unique experience that extends beyond just financial gains.

Additionally, GoodEgg’s smart contract on Ethereum (ERC-20) ensures a high level of security and transparency, which has been further supported by external audits. The project also boasts a comprehensive tokenomics structure, with 60% allocated to the presale, 10% to liquidity, and 5% each to the ecosystem and team.

With a growing community and a strong roadmap, GoodEgg (GEGG) is quickly becoming the preferred choice for investors looking to diversify beyond traditional meme tokens. Floki (FLOKI), while still popular, may face increasing competition as more innovative projects like GoodEgg enter the market.

Conclusion

As Floki (FLOKI) experiences modest gains and continues to strengthen its ecosystem with partnerships and P2E developments, it remains a strong contender in the memecoin world. However, the rise of GoodEgg (GEGG) is hard to ignore. With its unique hybrid model combining Social-Fi, Play-2-Date, and AI technology, GoodEgg is attracting significant interest from both retail investors and whales.

While Floki (FLOKI) may still hold a prominent position in the market, it’s clear that GoodEgg (GEGG) is quickly becoming a dominant force. Investors looking for long-term growth and utility are starting to see GoodEgg as a more attractive option, and the project’s continued momentum could lead it to surpass many of its competitors in the coming months.

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Основатель децентрализованной платформы Uniswap Хейден Адамс (Hayden Adams) постарался опровергнуть слухи о том, что Uniswap Labs и Uniswap Foundation взимают комиссии за развертывание протокола.

Китайский криптожурналист, публикующийся под псевдонимом WuBlockchain, обнародовал цифры объемов торгов на централизованных криптобиржах за август.  В целом, объемы торгов на платформах выросли на 30%, отметил аналитик.

Три отставных военнослужащих из Индии обратились в полицию города Пуна с жалобами, что их обманули криптовалютные мошенники, лишив криптоактивов на общую сумму 79,81 лакха рупий (около $96 000).

Democratic nominee Kamala Harris’ winning odds increased following the presidential debate with Republican candidate Donald Trump. As the former US president and the Vice President’s chances tied in the polls, the flagship cryptocurrency’s price saw a mild 1.5% decline.

Many investors awaited the mention of Bitcoin (BTC) and digital assets but were disappointed as the event concluded with no discussion of crypto policies.

Presidential Debate Forgets Crypto

The crypto community awaited Tuesday’s Presidential Debate hoping the candidates would discuss the industry’s policies as a candidate’s stance on digital assets has become a decisive factor for American voters.

A recent report by global exchange Gemini revealed that three in four crypto owners believe digital asset policies will impact voting in the elections. 73% of the surveyed plan to consider a candidate’s stance on the industry before voting, while 37% claimed that these policies will have a “significant impact” on their decision.

As a result, many investors hoped the sectors’ policies would be discussed during the first showdown between the nominees. Former US President Donald Trump has embraced the crypto industry, which has earned him massive support from top figures within the space.

Trump has promised to tackle the regulatory crackdown on the sector, pledging to end the Biden-Harris administration’s “anti-crypto crusade.” Additionally, he revealed his intention to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler, if elected.

Following the lack of crypto discussion during the debate, the US VP’s stance on the sector remains undisclosed. Despite this, many community members consider that the Democratic nominee was the debate’s winner.

Bitcoin Bull Mike Novogratz said VP Harris “smoked” the Republican nominee during the debate, joking that the Republican National Committee (RNC) would replace Trump after Tuesday’s event. Novogratz also suggested that the election’s outcome won’t be clear until the results are in, stating, “Our election will be decided in six states that are gonna be close.”

Other community members considered Americans the “real losers” after the debate, as both candidates “danced around the real problems, like rising inflation, endless government overreach, and the federal reserve’s money printing.”

QCP Capital stated in a Telegram message that Harris appears to have “won in the court of public opinion.” However, it noted that neither candidate provided “a clear message on economic policy.”

VP Harris Takes The Lead

The debate resulted in the Democratic nominee’s winning odds increasing by 4%, according to Polymarket, Trump and Harris tied on Tuesday night with 49% chances of winning each. Nonetheless, the US VP took the lead in the early hours of Wednesday.

VP Harris’ odds were also positively impacted after global superstar Taylor Swift endorsed her. In an Instagram post, the American singer distanced herself from the pro-crypto Republican candidate, who recently shared AI images suggesting Swift and her fans supported him.

Additionally, Swift took a jab at Trump’s running mate J.D. Vance, for his comments calling female Democratic politicians “childless cat ladies.” The Democratic nominee recently received support from 88 business leaders ahead of the debate, including Ripple’s co-founder Chris Larsen and Billionaire Mark Cuban.

As of this writing, Kamala Harris’ chance of winning the election hit 50% in Polymarket, ahead of Trump’s 49%, and her odds of winning the six swing states have increased by 2% in the prediction market.

Правительство Великобритании внесло в парламент законопроект о правовом статусе биткоина и других криптовалют, которые могут быть признаны новой формой собственности.

Crypto exchange Gemini has released its 2024 global crypto report, offering valuable insights into current investor attitudes and ownership trends in the digital asset space, given the newly introduced Ethereum and Bitcoin ETFs. 

Spot Ethereum & Bitcoin ETFs Drive Billions In Institutional Inflows

The report, released Tuesday, shows that after a tumultuous two years, the cryptocurrency market experienced a significant rally in 2024, with long-term holders demonstrating their willingness to accumulate digital assets despite certain challenges following the approval of Ethereum and Bitcoin ETFs. 

Notably, Gemini contends that past investors appear ready to re-enter the market as spot Ethereum and Bitcoin ETFs attract billions in institutional inflows.

The report reveals that crypto adoption has remained stable in key markets, with 21% of individuals in the United States and 18% in the United Kingdom identifying as crypto owners. 

In France, ownership increased from 16% to 18%, while Singapore saw a slight decline, with ownership dropping from 30% to 26%. Marshall Beard, COO of Gemini, commented on the findings: 

Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception. The introduction of spot crypto ETFs in the United States and significant progress toward thoughtful regulation in many jurisdictions globally has positioned the industry for strong growth as retail investors rejoin the crypto market or get started for the first time.

Regulatory Uncertainty Remains Major Barrier For Crypto

The report highlights several trends and barriers in the crypto landscape. Notably, nearly two in five non-crypto owners in the US and UK cited regulatory uncertainty as a significant deterrent to investing in digital assets. 

In France, 32% of respondents expressed similar concerns, while nearly half (49%) of those surveyed in Singapore indicated worries about crypto regulations.

Regarding investment intentions, a majority of 57% of crypto owners expressed a willingness to allocate 5% or more of their investment portfolios to digital assets. Additionally, more than a quarter (26%) of previous owners signaled interest in re-entering the market, suggesting a potential influx of capital.

However, Gemini notes that “the gender disparity” in crypto ownership remains pronounced, with 69% of crypto owners identifying as male and 31% as female in 2024, compared to 58% and 42% in 2022. However, women who engage with the crypto market are just as likely as men to adopt a buy-and-hold strategy.

Moreover, the report emphasizes the role of ETFs in driving growth within the crypto sector. In the US, 37% of cryptocurrency owners reported holding some of their assets through Ethereum or Bitcoin ETFs, and 13% indicated they own crypto exclusively through these investment vehicles. 

Finally, cryptocurrency has emerged as a significant issue in US elections for the first time. Per the report, 73% of crypto owners stated they would consider candidates’ digital asset policies when voting for the next president, reflecting the growing importance of crypto in the political landscape.

At the time of writing, Bitcoin is trading at $56,700, recording almost no change from Tuesday’s price as the largest cryptocurrency on the market failed to consolidate above $57,000 in the last 24 hours. 

Featured image from DALL-E, chart from TradingView.com

Комиссия по торговле товарными фьючерсами США (CFTC) совместно с несколькими финансовыми регуляторами запустила образовательную инициативу для повышения осведомленности общественности о мошеннических криптосхемах.

A report from Glassnode has revealed that the Bitcoin transfer volume has been losing momentum recently, a sign that may not be positive for BTC.

Bitcoin Transaction Volume & Exchange Volume Are Both Down

According to the latest weekly report from Glassnode, the Entity-Adjusted Transfer Volume has declined recently. The “Transfer Volume” is a metric that keeps track of the total amount of Bitcoin volume becoming involved in blockchain transactions.

The Entity-Adjusted version of this indicator filters the total volume to represent only the transfers between different entities. An “entity” here refers to a cluster of addresses that Glassnode has determined to belong to the same investor through its analysis.

Transactions between the wallets of the same holder aren’t relevant to the greater market, so the Entity-Adjusted version, which filters out such transfers, can represent the true volume becoming involved in trading.

Below is the chart cited by the analytics firm in the report, which shows the trend in the Entity-Adjusted Volume and its 30-day and 365-day moving averages (MAs) over the past few years.

As displayed in the graph, the Bitcoin Entity-Adjusted Transfer Volume currently has a value of around $6.2 billion daily. This isn’t a low value, but what may be worth noting is the trajectory that the indicator has been following recently.

From the 30-day MA, it’s visible that the network volume has been declining for a while now, with it even just dropping under the 365-day MA recently. “Generally speaking, this is a net negative observation,” notes Glassnode.

Earlier in the year, the monthly average volume had gained a large distance over the yearly average, caused by the spike in interest surrounding the cryptocurrency as its price had marched on to a new all-time high (ATH).

The decline in the volume that has followed since then may be due to the lackluster price action that Bitcoin has been showing, as investors tend to find such periods boring.

This boredom is also visible through another indicator related to BTC trading: the Combined Exchange Inflow/Outflow Volume. As its name implies, this metric measures the total amount of Bitcoin flowing in and out of the wallets associated with centralized exchanges.

The graph shows that Bitcoin’s combined exchange inflow/outflow volume has recently seen a similar trend to the transfer volume. The crossover is even at a more advanced stage in the case of this metric, with the 30-day MA now being well below the 365-day MA.

“This underscores a decline in investor demand and less trading by speculators within the current price range,” reads the report.

BTC Price

Bitcoin had seen a plunge towards $55,500 earlier in the day, but the decline was only short-lived as the coin has bounced back to $56,700.

India has once again emerged as the global leader in cryptocurrency adoption, according to a recent report by blockchain analytics firm Chainalysis.

This marks India’s second consecutive year which topped the charts, demonstrating continuous interest among investors who continue to engage with digital assets despite the country’s regulatory environment and high trading taxes.

India’s Expanding Crypto Landscape

The Chainalysis report, which evaluates adoption across four specific sub-categories in 151 countries, highlights India’s strong performance in centralized exchanges and decentralized finance (DeFi) assets from June 2023 to July 2024. 

Despite a tough regulatory stance towards cryptocurrencies since 2018, the report highlights that India has shown a significant breadth of adoption across various crypto assets. Eric Jardine, the research lead at Chainalysis, noted that this suggests new participants are finding ways to engage with cryptocurrencies through services that remain unbanned.

India’s regulatory framework has been particularly challenging. In December 2023, the Financial Intelligence Unit (FIU) issued show-cause notices to nine offshore cryptocurrency exchanges for failing to comply with local regulations. However, recent developments indicate a slight easing of these restrictions. 

For instance, the world’s largest crypto exchange by trading volume, Binance, registered with the Financial Intelligence Unit (FIU) in June and subsequently faced a fine of 188.2 million rupees (approximately $2.25 million) as part of its efforts to resume operations in India. Similarly, KuCoin registered with the FIU in March and faced a smaller penalty of 3.45 million rupees.

Bitcoin ETF Launch Sparks Surge In Global Transactions

The report also points out seven of the top twenty countries in Chainalysis’ global adoption index are in Central and South Asia, including Indonesia, Vietnam, and the Philippines. 

Notably, Indonesia recorded substantial trading activity, reporting $157.1 billion in digital asset inflows over the past year despite a ban on using cryptocurrencies for payment.

Interestingly, the launch of Bitcoin exchange-traded funds (ETFs) in the United States has further influenced global cryptocurrency activity. The report indicates that this event triggered a significant increase in Bitcoin transactions across various regions, particularly in North America and Western Europe, where institutional-sized transfers saw robust year-over-year growth. 

Additionally, the report highlights a notable increase in DeFi activity in regions such as Sub-Saharan Africa, Latin America, and Eastern Europe. This uptick has likely contributed to a rise in altcoin transactions, reflecting a growing interest in diverse digital assets beyond Bitcoin.

At the time of writing, the largest cryptocurrency on the market, Bitcoin, continues to record significant volatility as in the spawn of 24 hours, the leading crypto is struggling to make foot above its current trading price of $57,650 after a brief dip towards $55,000 once again earlier on Wednesday.

Featured image from DALL-E, chart from TradingView.com 

In a move that could lead to a new era of digital asset ownership, the UK government has unveiled a new bill that aims to solidify cryptocurrencies such as Bitcoin (BTC), non-fungible tokens (NFTs), and tokenized assets as personal property. 

The bill, formally introduced in Parliament on September 11, aims to redefine the legal status of these digital assets and provide greater protection and clarity for investors and the broader crypto market after years of regulatory uncertainty in the European region.

Bitcoin And NFTs Protected Under New British Law

The Property Bill, as highlighted in the government’s press release, marks a significant shift in the legal landscape by officially recognizing digital holdings and even carbon credits as personal property under British laws. 

By filling this legal gap, the government believes that the bill will not only protect owners from potential interference with their digital assets, but also position the UK at the head of the global tech race by being one of the first nations to legalize such assets.

Previously, the ambiguity surrounding the treatment of digital assets within English and Welsh property law left owners vulnerable to uncertainties and disputes. 

With the introduction of this new law, individuals and companies can now benefit from legal protections against fraud and scams while enabling judges to navigate cases involving contested digital holdings.

UK Aims To Lead In Crypto Regulation

Justice Minister Heidi Alexander underscored the importance of this legislative advancement, highlighting the role of the UK’s legal services in driving economic growth and maintaining the nation’s position in the international legal arena. 

By adapting to the evolving technological landscape, Alexander believes the bill bolsters the UK’s position as a hub for crypto assets and streamlines complex property cases, fostering clarity and certainty in legal proceedings. The Justice Minister stated:

Our world-leading legal services form a vital part of our economy, helping to drive forward growth and keep Britain at the heart of the international legal industry. It is essential that the law keeps pace with evolving technologies and this legislation will mean that the sector can maintain its position as a global leader in crypto assets and bring clarity to complex property cases.

By being one of the first countries to recognize digital assets legally, the UK aims to attract more business and investment into its legal services sector, which already contributes £34 billion annually to the economy.

Moreover, the legislation is expected to bolster the UK’s attractiveness in international legal matters, given that English law governs approximately £250 billion of global mergers and acquisitions and accounts for 40% of global corporate arbitrations.

Featured image from Shutterstock, chart from Tradingview.com

Popular dog-themed meme coin Shiba Inu has taken a hit as its small wallet holdings have witnessed a significant decline in the midst of general market uncertainty, which has triggered heightened fear among cryptocurrency investors.

Shiba Inu Small Holders Abandoning The Digital Asset?

In a recent report from Santiment, a leading market intelligence platform, it was revealed that the number of Shiba Inu wallets containing small quantities of SHIB has plummeted to its lowest point in almost two years, indicating a potential change in attitude among retail investors.

Specifically, wallets holding less than 1 billion SHIB are typically considered as small holdings and Santiment noted that the last time the numbers were this low was in November 2022. With the decline in smaller wallets coinciding with unstable market conditions, the development could raise doubt about SHIB distribution going forward.

Although SHIB’s small wallets have plummeted compared to Dogecoin, the largest meme coin, the platform highlighted that Shiba Inu’s retail traders are displaying a great deal of relief. The drop indicates that there is a great deal of FUD spreading over the network, with big wallets containing 1 billion SHIB and above controlling the majority.

Santiment also pointed out that since late July, there has been an extremely low degree of social debate about Shiba Inu, and this trend has essentially continued throughout the year. Considering how many smaller retail traders have been leaving the asset at a rapid rate, this decline in social interactions illustrates traders’ dissatisfaction and lack of interest in SHIB.

Overall, Santiment has labeled SHIB as the worst-performing Dogecoin in 2024 due to the substantial drop in both average and long-term trading returns. According to the platform, the long-term trading returns have decreased by an astounding -31.7%, while the 30-day average trading returns have fallen by just -1.1%. However, once Bitcoin, the flagship crypto asset, is able to stabilize, and altcoins can once again thrive, this development has the ability to position the meme coin for great success in the upcoming months.

SHIB Gearing Up For A Major Rally In 2025

Despite the negative events around Shiba Inu, multiple crypto analysts are very optimistic about the meme coin‘s potential in the long and short term, positioning it as a promising asset in the ever-evolving world of digital assets.

Investing Haven, a crypto expert has forecasted a bullish surge for SHIB in 2025, citing a positive development on its chart, as the meme coin is presently testing a major support level at $0.0000111.

According to the analyst, Shiba Inu appears to be displaying a possible W-reversal on the weekly chart, and with SHIB holding strong at the aforementioned level, it could trigger a bullish reversal in the long term. Thus he anticipates the rally to take place in the middle of 2025, urging investors to look out for the timeframe.