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On Friday, asset management firm and exchange-traded fund (ETF) issuer VanEck announced its decision to liquidate its Ethereum Futures ETF (EFUT). According to the official release, shareholders will have the opportunity to sell their shares on the fund’s listing exchange until market close on September 16, 2024. 

After that date, the shares will no longer be traded on the exchange and will be officially delisted. Investors are advised that if they sell their shares prior to this date, they may incur transaction fees from their broker-dealers.

What VanEck’s ETF Liquidation Means For Investors

According to the notice, those who continue to hold shares on the liquidation date, which is expected to be approximately September 23, 2024, will receive a cash distribution equal to the net asset value of their shares.

This means that shareholders will receive a cash amount based on the value of their holdings at the time of liquidation, which will be credited to the cash portion of their brokerage accounts.

Additionally, shareholders may receive a final distribution of net income and capital gains earned by the Fund that have not been previously distributed prior to the liquidation. This could provide investors with an extra financial benefit as they wind down their investment in the ETF.

VanEck also noted that the final tax status of all distributions made by the Fund, including the liquidating distribution, will be communicated to shareholders through the year-end tax reporting. This report will clarify any portions of the distribution that may be treated as a return of capital, which could affect the shareholder’s basis in their shares.

Earlier this year, the asset manager also closed its Bitcoin futures ETF due to the approval of its Bitcoin spot ETF in January this year. 

However, the announcement made no mention of its recently launched spot Ethereum ETF (ETHV), which is still on the asset manager’s list of offerings despite experiencing significant outflows after it began trading in July. 

VanEck Leads Spot Ethereum ETF Outflows 

Both the Ethereum and Bitcoin spot ETF markets have seen significant outflows over the past month, further impacting the ongoing price correction seen in the prices of the two largest cryptocurrencies on the market.

The Ethereum ETF market has seen outflows totaling approximately $562 million since its inception on August 19, led by VanEck’s outflows of $47 million over the same period, according to Farside data. 

This has contributed to a nearly 7% drop in ETH’s price, which is currently trading at $2,240. Over the fourteen-day period, ETH is also down nearly 20%. And over the past month, accounts for 5.6% for the second largest cryptocurrency on the market.

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

The Dogecoin Foundation has revealed a major update to their development trailmap. Highlighting this update is the announcement of “Project Sakura,” a protocol upgrade poised to increase block speed by tenfold, augment block size similarly, and ensure maximum decentralization—a development that has sparked vibrant discussion within the community.

As outlined in their shared trailmap on Thurday via X, the Foundation’s strategy unfolds in three major steps, aimed at broadening the scope and utility of DOGE. The first step focused on making development more accessible and expanding the developer ecosystem through tools like libdogecoin and multi-language bindings. According to the foundation, this phase has already reached full completion and included the “libdogecoin, multi language bindings, growing dev community, growing ecosystem of FOSS projects & business accepting Ð.”

The second step aims to lower the barrier for Dogecoin adoption both in business and for the 1.7 billion unbanked individuals worldwide. This phase, currently 90% complete, includes the deployment of the GigaWallet Payment Gateway and Ecommerce plugins, which are set to streamline the use of DOGE in commercial transactions.

“Lower barrier for Dogecoin adoption for business / commerce & the 1.7bn unbanked humans: GigaWallet Payment Gateway, Ecommerce plugins, Radio Doge, Dogebox OS (Dogecoin Platform / Runtime),” the DOGE team detailed step 2.

However, it is the third step, currently at the nascent 10% completion stage, that has particularly piqued the interest of the community. The ambitious “Project Sakura” seeks to dramatically scale up Dogecoin’s throughput to meet global currency scalability norms. This includes enhancements that propose a tenfold increase in both block speed and size. Moreover, the DOGE Foundation teases a “’Proof of Doge’ Protocol Upgrade prototype.”

Dogecoin Community Reactions

The DOGE community has reacted with excitement and curiosity. Influential voices within the community, such as Doge Whisperer and Sir Doge of the Coin, have publicly requested more details about the implications of Project Sakura. “Can you share more details on this: Project Sakura: ‘Proof of Doge’ Protocol Upgrade prototype. 10x block speed, 10x block size, maximum decentralization. Much thx,” tweeted Doge Whisperer. Similarly, Sir Doge of the Coin voiced his anticipation, tweeting, “Cool. Interested to see what Step 3 involves.”

Further community response came from Kriss Pax who emphasized the need for transparency: “We need more info on Step 3 please. 10% complete? What are you doing and where is this going? Transparency would be great, thanks.”

The DOGE Foundation asserts that their trailmap is more than a traditional roadmap—it is a community-driven, consensus-based exploration into the future of DOGE, designed to foster the cryptocurrency’s success and not dictated by any single lead or company. The foundation describes the Dogecoin trailmap as a journey that reflects the decentralized ethos of DOGE itself.

With initiatives like libdogecoin and the GigaWallet, the foundation is setting the stage for anyone to build DOGE-compliant products without needing to delve into the complexities of cryptographic functions. This approach not only simplifies the process of adopting DOGE technologies but also ensures that future implementations remain true to the original protocol as documented in the Dogecoin Standard.

The GigaWallet aims to be an “enterprise-ready” DOGE service. It’s “an open-source initiative aimed at filling that gap by providing a node / API solution that can be set up in seconds and allow a developer to add Dogecoin transactions to their platform, as easily as they might with any polished payment provider,” according to the official website.

At press time, DOGE traded at $0.09725.

Депутат фракции «СПРАВЕДЛИВАЯ РОССИЯ — ЗА ПРАВДУ» в Госдуме, экономист Михаил Делягин и военный эксперт Александр Артамонов обсуждают политику замещения населения в разных странах, комплексную взаимосвязь...

Bitcoin (BTC) is at a crucial level after a sharp 15% retrace from recent local highs. While traders and enthusiasts speculate about the causes of this downturn, the consensus is clear: demand is weakening. 

CryptoQuant’s head of research, Julio Moreno, has provided an in-depth analysis of the situation, relying on key market indicators and data to explain the ongoing shift.

His analysis suggests that falling demand is a driving factor behind BTC’s recent price action. As the crypto market navigates this turbulent period, uncertainty is growing, making it difficult for investors to anticipate the next big move. 

With indecision spreading among market participants, the upcoming days could prove pivotal for Bitcoin’s price trajectory as bulls and bears battle over critical levels. Will BTC recover, or is there further downside ahead? Investors are watching closely for signs of what’s to come.

Bitcoin Demand Is Declining Right Now

Bitcoin (BTC) is currently facing significant selling pressure, primarily due to a noticeable decline in demand growth. According to CryptoQuant’s head of research, Julio Moreno, this demand issue is reflected across various valuation metrics, which have been stuck in bearish territory.

One of the most telling indicators is the apparent demand for BTC (30-day sum), which has entered a negative zone, highlighting weak buying interest. Moreno has shared his analysis on X, noting that the most severe signals have been flashing since July, when BTC’s demand began its steep decline.

This sluggish demand growth is the core reason Bitcoin’s price has been struggling to recover and start a fresh uptrend. While BTC managed to rally earlier in the year, the absence of new demand has kept it from sustaining higher levels.

Moreno also pointed out that $55,500 is a key level to watch, representing traders’ on-chain lower realized price. The market may remain weak without reclaiming this level, as it signals broader challenges in attracting new buyers. Investors closely monitor these metrics to determine if the market can regain its footing or if further downside is ahead.

BTC Price Action

Bitcoin (BTC) is trading at $56,087, barely holding above the critical $55,000 level after several days of slow decline and lackluster price action. The recent BTC price stagnation suggests that it may test the lower demand zone at $54,500.

If Bitcoin manages to sustain its position above $55,000, bulls will need to reclaim the 4-hour 200 moving average, currently at $59,373, and push the price above the significant psychological barrier of $60,000. This level is crucial for establishing a renewed bullish trend and gaining momentum.

Conversely, if BTC fails to hold the $54,500 support, a more substantial decline could be on the horizon, potentially driving the price down to $49,000 or even lower. This would signal a bearish shift, challenging the current market sentiment and testing the resilience of Bitcoin’s recent gains.

Traders should watch these key levels closely, as a break below $54,500 could exacerbate the current downturn, while a recovery above $60,000 could reignite bullish enthusiasm.

Featured image from Dall-E, chart from TradingView

Dogecoin (DOGE) and Shiba Inu (SHIB) are currently experiencing a downtrend, highlighting the bearish sentiment towards these meme coins. This price decline is due to several factors, including developments in the broader crypto market. 

Dogecoin And Shiba Inu Following Bitcoin’s Path

Dogecoin and Shiba Inu have been following Bitcoin’s path, which explains why they continue to experience this downside pressure. Data from the market intelligence platform IntoTheBlock shows that Dogecoin and Shiba Inu have a price correlation of 0.9 and 0.84, respectively, with Bitcoin, indicating a strong positive price correlation between these meme coins and the flagship crypto.  

As such, Dogecoin and Shiba Inu saw their prices spiral as Bitcoin dropped below $56,000 on September 5. Dogecoin dropped to as low as $0.96 on the day, while Shiba Inu dropped to $0.00001309. Bitcoin (and the foremost meme coins) lack any bullish momentum right now and continues to suffer due to macroeconomic factors. 

NewsBTC recently reported how the flagship crypto crashed this week as the effects of the Yen carry trade are still in play and that its correlation with the US Stock market has also contributed, with stocks also suffering significant losses this week. These developments have affected the confidence of Dogecoin and Shiba Inu’s investors, seeing how the trading volume for these meme coins has declined. 

The drop in trading volume has also caused Dogecoin and Shiba Inu’s prices to decline since investors and traders are less enthusiastic about buying or trading these meme coins at the moment. Data from CoinMarketCap shows that DOGE’s trading volume has dropped by over 3%, while Shiba Inu’s trading volume has declined by 12.86% during this period. 

Meanwhile, historical data supports price declines for Dogecoin and Shiba Inu this month, as both meme coins have mostly recorded monthly losses in September over the years. Interestingly, 2021 was the last time Dogecoin and Shiba Inu enjoyed profits in September. 

It Could Get Worse For DOGE And SHIB

The bearish sentiment towards Bitcoin price suggests that Dogecoin and Shiba Inu risk further price declines. Crypto analyst Ali Martinez recently predicted that Bitcoin could drop to as low as $40,600 if it fails to hold above the $51,000 support level. Arthur Hayes, the Co-Founder of BitMEX, also mentioned in an X (formerly Twitter) post that Bitcoin is “heavy” and revealed that he believes that the flagship crypto could drop below $50,000 this weekend.  

Dogecoin and Shiba Inu are already trading below key support levels at $0.10 and $0.000020, respectively, and could easily suffer a free fall if Bitcoin eventually drops below $50,000. For DOGE, $0.077 will be a price level to watch out for, as 1.22 million addresses bought 23.2 billion DOGE at that price. 

Meanwhile, 130.17 trillion SHIB were bought at around $0.000013, and a drop below that level means that Shiba Inu risks dropping below the psychological level of $0.000010.

With the Federal Reserve (FED) interest rate cut fast approaching, discussion about the event’s impact on Bitcoin, the largest crypto asset has increased significantly within the community. However, a crypto analyst delving into the subject has predicted a similar price implication to that of past scenarios, particularly in 2019.

An Impending Pop And Drop Performance For Bitcoin

Apsk32, a crypto expert and engineer has offered insights on the aftermath of Bitcoin’s price performance following the Fed’s interest rate cut expected to take place on September 18. The expert predicts that Bitcoin could experience a similar price impact in 2024 to the one seen in 2019 after rates were reduced.

According to the crypto expert, when the Federal Reserve cut interest rates back in August 2019, Bitcoin witnessed a surge of about 20% in one week. However, about 3 months after the event, the digital asset lost its momentum and plummeted by over 33%, triggering pessimism in the industry.

Comparing the two eras, Apsk32 is confident that if the Fed decides to go toward monetary easing this year, BTC’s price performance might mirror the same positive and negative trend of 2019 post the event.

While the analyst believes that BTC might see a similar pop and collapse, he is unsure that the coin will fall by 33% from here. As a result, he has placed his base price for Bitcoin between the $45,000 and $55,000 level before ultimately seeing a rally in 2025, which is believed to be a promising year for the crypto asset.

Apsk32 appears to be very bullish about Bitcoin and its potential in the long term as evidenced by his previous audacious forecast where he envisions a $2.6 million per BTC in the future. His projection is based on the digital asset’s market cap, which is in alignment with a power law.

The expert pointed out that since 2011, a power law has governed the purchasing power of BTC’s market capitalization. Thus in the event that the pattern persists, the value of the coin will reach $2.6 million in the next 10 years.

A Wave Of Bullish Prediction For BTC

This stark optimism from Apsk32 matches that of asset management company VanEck, which also predicted a similar price range for BTC in the long term. The over $100 billion asset manager in its latest report projected BTC to be valued at $2.9 million by 2050, translating to an overall market cap of a whopping $61 trillion.

VanEck‘s prediction is fueled by the notion that Bitcoin could be used to settle about 10% of the world’s international trade and 5% of the world’s domestic trade by 2050, possibly leading to central banks securing 2.5% of their asset in BTC.

It is worth noting that the aforementioned price target is the firm’s base case scenario for BTC, while its worst and best-case scenario is pegged at $130,000 and $52.4 million respectively.

The sharp decline in the price of Bitcoin (BTC), the world’s largest cryptocurrency, has taken a heavy toll on short term holders. Recent reports have revealed that many of these BTC holders are now in the red, suffering losses from the cryptocurrency’s price crash and ongoing market volatility. 

Short-Term Holders Under Pressure

On September 4, Glassnode, an on-chain market intelligence platform, released a detailed report on the financial strain short term Bitcoin holders are currently experiencing due to rising market volatility and declines in the price of BTC. 

Currently, short-term holders are holding Bitcoin at a significant loss, making it a potential risk source. Looking at the broader market, unrealized losses, which sit at just 2.9% of BTC’s total market capitalization, remain historically low. This indicates that the aggregate investor is still relatively profitable in the face of market declines, with the ratio between total Unrealized Profit being 6X larger than Unrealized loss.  

Nevertheless, short-term BTC holders who recently bought Bitcoin are bearing the brunt of the market declines and shouldering the majority of the pressure. Their Unrealized loss significantly dominates overall and continues to grow, but this situation has not reached full bear market conditions like previous market crashes. The losses however, are mirroring a more turbulent period, similar to what was seen in 2019. 

These market observations have been drawn from evaluations of the Short Term Holder Market Value To Realized Value ratio (STH MVRV). According to Glassnode, the STH MVRV of Bitcoin has collapsed below the breakeven value of 1.0, presently trading at similar levels as August 2023, when the market was recovering from the FTX failure. 

This assessment suggests that the average new BTC investor is holding an unrealized loss. Until the price of Bitcoin surpasses the $62,400 mark, Glassnode has predicted further weaknesses in the already declining market. 

Presently, all age bands and segments within the short-term holder group are experiencing unrealized losses. This indicates widespread stress amongst short-term Bitcoin investors in the crypto market.   

Current State Of The Bitcoin Market

Glassnode’s report provides a deep analysis of the current state of the Bitcoin market, particularly assessing price movements, invested sentiment, and overall market behavior. Over the past six months, Bitcoin’s price action has been flat, with numerous investors showing indifference or becoming apathetic.

In the last three months, however, the market has experienced more downward pressure, resulting in a significant price drawdown in BTC. Although compared to historical bull market regimes, this decline is relatively smaller than past bear markets. 

Glassnode revealed that Realized Profit has plummeted dramatically since Bitcoin’s all-time high of above $73,000 in March 2024. This suggests that fewer Bitcoins are being sold at a profit while Realized Losses are rising as the market continues to dwindle. 

Bitcoin’s current Sell-Side Risk Ratio is also very low, implying that most assets being traded are close to their breakeven cost. This indicates that the current market could be overly saturated in terms of profit and loss taking, hinting at the possibility of more volatility in the future. 

The turbulent UK cryptocurrency landscape sees the Financial Conduct Authority report that 87% of crypto registration applications failed in the last fiscal year.

This is a staggering fact that brings up very serious questions concerning the effectiveness of anti-money laundering controls in the industry. Only four out of 35 applications were approved, underlining how tough the regulatory environment remains.

Struggling To Meet Standards

The FCA has been acting as the regulator for crypto businesses since January 2020, overseeing compliance with the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations.

Overall, the report states that this high number of firms falls short of the required standard. This was because most applications were refused on the grounds of unsatisfactory fraud and AML controls necessary for assurance that illicit funds do not penetrate the financial system.

FCA Chair Charles Randell commented:

“Although some firms have shown adequate systems, too many have failed to meet acceptable standards of risk management and controls to date, leading to this wave of rejections and withdrawals.”

But the new European Union regulations, including Markets in Crypto-Assets, or MiCA framework, have made things even more complex. While these rules aim at better regulating crypto assets, they also add further layers of complexity to UK firms already battling local compliance issues.

With rules yet to be implemented, many are wondering if the UK will still be a viable market for crypto operations.

Why the FCA rejected almost 90% of crypto firms’ applications https://t.co/4BgWSipEXw

— DL News (@DLNewsInfo) September 5, 2024

A New Era Of Regulation

The FCA report contributes to the larger initiative aiming at increasing regulatory control of the crypto sector. This also entails the building of a new “Crypto Cell” at the National Crime Agency with more authority to handle crimes connected to cryptocurrencies.

This division will be responsible for investigations and law enforcement support; this therefore reinforces the government’s commitment to stamping out financial crime in this fast-changing sector.

However, the FCA has been so strict in its stance that crypto firms are growing frustrated. Many have complained of months of delays and inadequate feedback within the registration process.

Some firms have decided to go overseas in search of easier legal environments for their operations, nonetheless serving UK clients. This issue raises questions about UK competitiveness in the crypto space, at least for companies seeking friendlier regimes for their activities.

The Future Of Crypto In The UK

Under the incoming Labor government, the future of crypto legislation rests in the balance; the UK government has put plans involving cryptocurrencies on the sidelines.

Although the FCA intends to assist companies through the registration procedure, the significant failure rate indicates a long way to go for establishing confidence and system clarity.

Pressure is mounting for authorities and companies to strike a suitable balance between compliance and creativity as only 44 companies effectively registered since the FCA started supervising the sector.

While incoming rules under MiCA could provide a path towards improved governance, the UK’s crypto scene is probably going to stay problematic until then.

Featured image from Pexels, chart from TradingView

The Shiba Inu team has announced two major milestones that promise to enhance the utility and dynamics of its network. Shibarium, Shiba Inu’s Layer 2 solution, has successfully achieved a substantial milestone in NFT minting. Concurrently, K9 Finance, the ecosystem’s official staking solution, is set to launch a staking solution for BONE after passing a smart contract audit.

140,000 NFTs Minted On Shibarium

Shibarium, which is designed to enhance transaction speeds and reduce costs for the Shiba Inu ecosystem, has recently seen over 140,000 NFTs minted with an expenditure of only about 800 BONE (roughly $310) in gas fees. This feat was highlighted by Shiba Inu’s marketing lead, Lucie (@LucieSHIB), who shared the success story via X.

Lucie emphasized the cost-efficiency and scalability of Shibarium, stating, “We’re excited to share an incredible achievement from our Shiba Eternity beta closed for Leash holders! So far, these dedicated testers have minted a staggering 140,000 NFTs on Shibarium, showcasing both the power and scalability of the platform. Even more impressive is the cost-efficiency: only around 800 BONE has been spent on gas fees for these transactions.”

Lucie further noted that this milestone showcases one of Shibarium’s key strengths—the ability to maintain extremely low transaction costs despite high volumes of activity. This feature makes Shibarium an ideal for NFT projects and other decentralized applications that require high throughput and cost efficiency. “This highlights one of Shibarium’s key strengths—extremely low transaction costs. Despite the high volume of minting, gas fees remain minimal, making it ideal for large-scale NFT projects,” she remarked.

Lucie added: “And don’t forget—Shib has over 1.4 million holders on-chain, far more than what is currently active, meaning our massive army has yet to fully embark on this DeFi journey through Shibarium.”

During the beta phase, all gas fees were sponsored, which significantly lowered the barrier for creators to participate and mint NFTs without incurring upfront costs. “As we continue to build, Shibarium is proving to be both scalable and cost-effective, unlocking new opportunities for our community,” Lucie added.

Launch Date For Shiba Inu Staking Revealed

On another front, K9 Finance is preparing to launch its staking service for the SHIB ecosystem on September 18, following a successful audit by SourceHat. This development is poised to provide SHIB holders with an opportunity to earn rewards by locking up their BONE tokens, thereby contributing to the security and robustness of the network.

K9 Finance’s readiness for this launch was confirmed through a post on X, detailing the successful completion of the smart contract audit and the forthcoming staking feature. “Smart Contract Audit Passed. The KNINE Liquid Staking & Farming contracts have been successfully audited by SourceHat. Launch Date: September 18th,” the K9 Finance team announced.

The Shiba Inu team described the anticipation surrounding this launch, noting, “K9 has been working tirelessly to enhance community engagement and provided updates on its progress. With this staking solution, SHIB holders can lock up their tokens and earn rewards in return for securing the network.”

At press time, SHIB traded at $0.00001320.

The US Treasury Department is intensifying its efforts to regulate crypto transactions linked to terrorist organizations, notably Hamas, as it seeks to address national security risks associated with virtual assets. 

According to a recent Bloomberg report, Treasury officials revealed they are investigating approximately $165 million in cryptocurrency transactions believed to support Hamas, a group designated as a terrorist organization by the US government.

Risks Of Crypto Allegedly Used By Hamas

In a two-page letter, Deputy Treasury Secretary Wally Adeyemo urged Congress to approve new authorities to bolster oversight of digital currencies. 

The letter, released in response to a Freedom of Information Act (FOIA) request, provides insight into the Treasury’s ongoing concerns about the potential for crypto to be used in illicit financing.

Adeyemo noted that while Hamas and similar groups still predominantly rely on traditional financial systems, there is a growing apprehension that they may increasingly turn to cryptocurrencies as access to conventional financial products is restricted. 

Among the proposals, Adeyemo suggested granting the Treasury’s Office of Foreign Assets Control (OFAC) the authority to impose secondary sanctions on virtual asset firms that engage with sanctioned entities. This aims to increase the government’s ability to combat money laundering and terrorism financing through digital currencies.

Adeyemo emphasized the need for enhanced regulatory powers to combat the evolving threats posed by virtual assets, he said: 

The Treasury needs to modernize its arsenal to take on crypto exchanges that offer services in the US while also operating in jurisdictions with weak or non-existent rules regarding sanctions, money laundering, and terrorism funding.

Adeyemo Urges Congress To Enhance Regulatory Powers

However, Riot’s Director of Public Policy Sam Lyman has previously argued that mainstream reports often overlook critical details that portray cryptocurrencies not only as tools for terrorism but also as potential obstacles for such organizations. 

Lyman claims that Hamas has even advised its supporters against using Bitcoin or any other crypto for donations, citing the transparent nature of blockchain technology. “Why?” Lyman explained. “Because the transparent nature of the blockchain had Western intelligence following their every transaction like bloodhounds.” 

This transparency, Lyman argues, makes it difficult for groups like Hamas to effectively use Bitcoin without drawing unwanted attention. He characterized money laundering through Bitcoin as “a classically dumb crime,” emphasizing that the visibility of transactions can spotlight those involved.

As seen in the chart below, the donations show that Hamas has experienced a decline in digital asset donations since late 2022 and early 2023, with BTC being the primary cryptocurrency used. 

This decline suggests that law enforcement agencies have been effective in tracking down these funds, further complicating the operational capabilities of terrorist organizations.

Ultimately, it remains to be seen whether these increased regulatory powers asked by Adeyemo can pass Congress, as the digital asset ecosystem has played a notable role in the upcoming US presidential election, which could mark a notable shift under a potential Trump return to the White House. 

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

Shiba Inu is one of the altcoins that have been hit, especially in the crypto market crash, seeing a substantial decline from its 2024 highs. However, this has not deterred community members from their mission of trying to reduce the meme coin’s supply through burning. Over the last day, there has been a notable jump in the total Shiba Inu burn rate as the official SHIB burn tracking website reported a 404% increase in burned tokens.

Shiba Inu Burn Recovers

The month of August saw a number of days where no SHIB coins were burned, showing that there was a decline in participation. However, toward the end of the month, the Shiba Inu burn rate began to pick up and this has continued into the month of September.

Shibburn’s data shows a 404.31% increase in the burn rate after over 14.2 million tokens were sent to the burn address. These burns took place across seven transactions, with the largest single burn sending 7.286 million Shiba Inu tokens to the burn address.

The burn over the last day has brought the seven-day burned tokens above 312.6 million. This is also an 80.72% increase from last week’s figures, showing that momentum is up this week. A continuation of this could see a sharp increase in the burn rate from here.

SHIB Price Still Struggling

The increase in the Shiba Inu burn rate has not translated to the price as it continues to nurse losses this week. So far, data from CoinMarketCap shows that the Shiba Inu price has dropped 6.18% in the last week alone. Additionally, there has been a 1.01% decline in the last day as of the time of this writing.

The decline in the SHIB price has been accompanied by struggling volumes. 24-hour data shows an 18.34% decline to bring SHIB’s daily trading volume to $134 million. This is a massive change from earlier in the year, when daily trading volumes were crossing $500 million.

However, all hope is not lost for the Shiba Inu price given that the meme coin is just responding to the negative market headwinds. Simply put, the meme coin’s price is down because Bitcoin is struggling. This means that when the Bitcoin price does begin to recover, then a recovery is likely for the Shiba Inu price as well.

At the time of writing, the SHIB price is trending at $0.000013, which puts it 85.1% below its all-time high price of $0.000088. Nevertheless, it continues to maintain a year-to-date gain of 72% thanks to its rally in February and March 2024.

Input | Output, the research and engineering entity behind Cardano, along with Hedera, have been named the final founding members of the Decentralized Recovery (DeRec) Alliance, a new coalition aimed at fostering interoperability and enhanced security across the crypto industry. The alliance, established by leaders within the Hedera and Algorand ecosystems and formalized in January 2024, already includes prominent crypto organizations such as Algorand Foundation, Hashgraph (formerly Swirlds Labs), Ripple, and XRPL Labs as foundational pillars.

Cardano, Ripple, And Hedera Lead The Charge

The alliance was launched by Hedera co-Founder Dr. Leemon Baird, who highlighted the collaborative effort spanning multiple ecosystems in a press release on Thursday. “We are happy to welcome Input Output as a founding member. Their deep expertise and insight will be a great asset to the DeRec Alliance,” Dr. Baird remarked.

Charles Hoskinson, the founder of Cardano and CEO of Input | Output emphasized the alignment with the company’s foundational principles. “Input Output has always been committed to open-source principles, cross-industry collaboration, and blockchain interoperability. As an industry seeking to drive wider adoption, we should all be committed to the relentless pursuit of security, accessibility, and improving the user experience,” the Cardano founder explained.

The DeRec Alliance introduces an open-source, industry-standard protocol that simplifies the recovery of digital assets, which is critical for everyday users and developers within the blockchain ecosystem. John Woods, CTO of the Algorand Foundation, pointed out the broader implications of inadequate user experience in Web3. “Web3 has fallen short in delivering a great UX for securing and recovering key material,” Woods stated.

The DeRec Alliance aims to address these shortcomings by providing streamlined key recovery processes and further decentralizing other important infrastructures, which are essential for the security and accessibility of digital assets. The founding members of the DeRec Alliance, including Input | Output and Hedera, will hold two-year terms on the Technical Oversight Committee (TOC), contributing their expertise to the governance structure and core policies of the alliance.

Their leadership is expected to maintain the strategic focus of the alliance and effectively address the evolving needs of its growing community. Charles Adkins, President of Hedera, expressed pride in joining the alliance and contributing to the enhancement of asset protection.

“From the very beginning, Hedera has been at the forefront of digital asset security. The DeRec Alliance takes this one step further by introducing an open-source protocol that simplifies asset recovery, aligning closely with our mission to enable a new era of trust and transparency,” Adkins commented.

Alliance members also play a crucial role in shaping the direction of the DeRec Alliance by providing policy input and overseeing the development of DeRec-based solutions. They engage in quarterly meetings and contribute to policy discussions, nominating candidates for and voting in TOC elections. This diverse group includes new members like DLT Science Foundation, Hashpack, Oasis Protocol Foundation, and Palisade, each bringing unique capabilities and perspectives to the alliance.

“The DeRec Alliance is a group of forward-thinking companies from across Web2 and Web3 that are committed to making the process of securing and recovering digital assets, accounts, and other secrets as simple as existing Web2 experiences. […] IO will hold a two-year term on the Technical Oversight Committee (TOC), offering critical input on the Alliance’s governance structure and core policies,” the Cardano developer added via X.

The DeRec protocol itself is designed around a secret-sharing approach among a set of helpers, such as friends or businesses, who assist in the recovery of secrets when needed. This approach ensures that no individual helper can access the complete secret, enhancing security and reducing the risks associated with centralized points of failure.

At press time, ADA traded at $0.3264.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently been struggling to maintain its momentum in the face of bearish trends. Analysts have been observing Ethereum’s performance closely, and many are predicting a further decline in price, with some forecasting that ETH could drop as low as $2,200. Despite Ethereum’s recent difficulties, savvy investors and crypto enthusiasts are turning their attention to an emerging contender in the meme coin market: Mpeppe (MPEPE), which has already experienced a 150% rally during its presale stages.

2024: Ethereum’s Recent Performance

Ethereum has faced significant downward pressure in recent weeks. Over the past 30 days, the cryptocurrency has seen a decline of at least 5.4%, prompting concern among its investors. Nick Forster, a well-known crypto analyst, has expressed skepticism about Ethereum’s ability to achieve new highs in the near future. According to Forster, Ethereum’s performance this year has been underwhelming, especially when compared to the impressive returns of tech giants like Nvidia, Meta and now newcomer Mpeppe.

Forster points out that despite the buzz surrounding the approval of Ethereum Spot ETFs, the anticipated price surge has not materialized. In fact, since January 2024, Ethereum has seen only a modest 0.98% gain, which pales in comparison to the meteoric rise of other tech stocks. The broader sentiment in the market has grown increasingly bearish, and many experts are lowering their price expectations for Ethereum, with some predicting a further drop to $2,200, yet increasing expectations for memes like Mpeppe to be worth $2 by 2025.

Mpeppe (MPEPE): A Meme Shoots For The stars

While Ethereum’s price outlook remains murky, Mpeppe (MPEPE), a new meme coin, has been making waves in the crypto community. With Ethereum struggling to gain momentum, some investors are diversifying their portfolios by turning to newer opportunities like Mpeppe, which has already gained significant traction during its presale stages. Mpeppe has already raised over $1.8 million during its Stage 4 presale, with 66.33% of tokens sold, and continues to attract attention from both retail and institutional traders.

Mpeppe’s appeal lies in its community-driven approach, strong market sentiment, and potential for massive returns. With a current price of $0.0021 USDT per token, Mpeppe is priced attractively for investors looking to get in early on a promising project. The presale has been moving swiftly, and Mpeppe’s performance suggests that it could be poised for significant gains once it officially launches.

A Potential Breakout for Ethereum?

While Ethereum’s price struggles continue, there are still some analysts who remain optimistic about its future. According to Forster, for Ethereum to experience a significant breakout, three key events would need to occur: the re-election of Donald Trump in the 2024 U.S. presidential election, aggressive interest rate cuts by the U.S. Federal Reserve, and a substantial increase in global financial liquidity.

However, Forster gives the likelihood of these events occurring a mere 10%. Despite this, other analysts like Titan of Crypto and Yoddha remain bullish on Ethereum’s long-term potential. They believe that if certain macroeconomic conditions align, Ethereum could see a strong recovery and even reach five-figure price points. As it stands, though, the market remains uncertain, and investors are keeping a close eye on ETH’s price movements in the coming months.

Investors Keep Close Eye on Mpeppe After 150% Rally

Mpeppe’s presale success has positioned it as one of the top meme coins to watch in 2024. Its 150% rally during the presale has garnered the attention of “sharks” in the crypto market, who see Mpeppe as a high-potential investment opportunity. As Ethereum faces an uncertain future, investors are diversifying into newer assets with high growth potential like Mpeppe. Meme coins have historically shown the ability to deliver outsized returns, and Mpeppe’s growing popularity suggests that it could be the next major player in the space.

Current Market Breakdown

As Ethereum faces continued bearish pressure, with some analysts predicting a drop to $2,200, many investors are looking for alternative opportunities in the crypto market. Mpeppe (MPEPE), with its strong presale performance and rapid community growth, has emerged as a top contender. With a current price of $0.0021 USDT and a successful presale underway, Mpeppe offers a unique opportunity for investors looking to capitalize on the potential for significant gains. While the future of Ethereum remains uncertain, Mpeppe is quickly proving that it has what it takes to succeed in the ever-evolving world of cryptocurrency.

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The world of cryptocurrency is constantly evolving, and while giants like Ethereum (ETH) continue to dominate, new opportunities in niche markets, such as meme coins, are emerging. One such opportunity that has been catching the eye of investors, including a prominent Ethereum millionaire worth $21.7 million, is Mpeppe (MPEPE), a casino-focused meme coin that has seen an impressive 150% rally during its presale stages.

Ethereum’s Long-Standing Dominance

Ethereum (ETH) has long been one of the most successful and popular cryptocurrencies, second only to Bitcoin. With its smart contract capabilities, decentralized applications (dApps), and the rise of decentralized finance (DeFi), Ethereum has secured its place as a cornerstone of the crypto world. As of September 2024, Ethereum continues to hold a strong position in the market, valued at over $2,300, but the price has fluctuated significantly this year.

Despite its prominence, the excitement around Ethereum has waned for some investors, particularly those seeking higher returns in shorter periods. Ethereum’s slower price movements in recent months have led some large investors to explore alternative options, particularly in the highly speculative and fast-moving meme coin sector. And Mpeppe (MPEPE) has emerged as a leading candidate for these traders.

A Fraction of Ethereum for Mpeppe’s Explosive Growth

Recently, a high-profile Ethereum millionaire made headlines after selling a fraction of their ETH holdings to invest in Mpeppe (MPEPE). This particular investor, whose ETH holdings are valued at $21.7 million, decided to capitalize on the rapid growth potential offered by Mpeppe. The move is significant because it demonstrates that even established Ethereum investors are willing to diversify their portfolios, seeking out new opportunities in the burgeoning meme coin market.

The Ethereum millionaire’s decision to reduce their ETH holdings was likely influenced by the increasing potential for quick gains in Mpeppe. The meme coin has captured the attention of investors thanks to its unique appeal as a casino-focused project. While Ethereum remains a steady, long-term investment, Mpeppe has demonstrated the ability to generate massive returns in a shorter time frame.

Mpeppe’s 150% Rally and ICO Success

Mpeppe’s success can be attributed to its clever positioning within the meme coin and casino markets. The coin has garnered a significant following thanks to its strong community engagement and the potential for future use within the online casino space.

During the presale, Mpeppe has raised over $1.8 million and rallied by 150%, making it one of the most talked-about new projects in the crypto space. This performance has not gone unnoticed, with investors, including the Ethereum millionaire, eagerly jumping on board to take advantage of the ongoing presale.

Ethereum has traditionally been a long-term, stable investment for crypto whales, but the current sentiment shows that even these investors are not immune to the allure of high-growth opportunities like Mpeppe. While Ethereum’s price may be moving more slowly in 2024, the meteoric rise of Mpeppe offers a compelling alternative for those seeking rapid gains.

Ethereum’s Future Amidst the Meme Coin Craze

Although some investors are diverting funds to smaller, high-growth coins like Mpeppe, Ethereum remains an essential asset in the world of cryptocurrency. Its long-term value is underpinned by its decentralized applications, NFTs, and DeFi projects, all of which rely heavily on Ethereum’s robust network. However, its slower price movements in recent months have led investors to explore more speculative assets like Mpeppe.

Ethereum may not be rallying at the same pace as some meme coins, but its solid foundation ensures that it will remain a key player in the crypto space for years to come. With the introduction of Ethereum’s Layer 2 solutions and the potential for Ethereum ETFs to gain traction, the coin still holds significant long-term potential. That said, for those looking for short-term gains, projects like Mpeppe offer an enticing option.

Mpeppe: The Casino Meme Coin Creating Noise

Mpeppe’s (MPEPE) success thus far can be attributed to its ability to tap into both the meme coin craze and the burgeoning online casino market. Unlike Ethereum, which has a broader range of use cases, Mpeppe is focused on a niche but rapidly growing segment of the market. This focus has allowed Mpeppe to gain significant traction, particularly among investors looking for quick, high returns.

With Mpeppe currently in Stage 4 of its presale, there is still time for new investors to get involved before the coin launches on exchanges. As the Ethereum millionaire’s investment demonstrates, even those with substantial holdings in more traditional crypto assets are beginning to see the value in diversifying into meme coins like Mpeppe.

Ethereum and Mpeppe Can Coexist

While Ethereum (ETH) remains a dominant force in the cryptocurrency world, the rise of niche projects like Mpeppe shows that there is room for both long-term investments and high-growth opportunities within a portfolio. Investors are increasingly seeing the value in diversifying between established coins like Ethereum and speculative projects like Mpeppe, which offer the potential for significant short-term gains.

As Mpeppe continues to gain momentum in its presale, it’s clear that the coin has struck a chord with investors looking to capitalize on its unique appeal. With Ethereum maintaining its role as a foundation of the crypto ecosystem, investors now have the option to enjoy the best of both worlds.

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Analyst Benjamin Cowen has issued a warning regarding Ethereum (ETH), raising concerns about its potential to fall further against Bitcoin (BTC) as the second-largest cryptocurrency faces ongoing bearish pressure. Ethereum has already plummeted nearly 40% from its 2024 high recorded in March, and Cowen’s analysis suggests there could be more downside ahead for ETH holders. As this uncertainty looms over Ethereum’s future, investors are increasingly turning to promising alternatives like the meme coin Mpeppe (MPEPE), which has seen strong growth and is now gearing up for Tier-1 exchange listings.

Mpeppe (MPEPE): A Bright Spot Amid Ethereum’s Decline

While Ethereum faces ongoing challenges, the meme coin Mpeppe (MPEPE) has been gaining significant attention. With its presale in Stage 4 and over $1.8 million already raised, Mpeppe has proven itself as a formidable player in the meme coin space. Unlike Ethereum, which has seen declining momentum, Mpeppe has experienced a massive 150% rally during its presale, capturing the interest of both retail and institutional investors alike.

As Mpeppe prepares for Tier-1 exchange listings, the coin’s potential for further growth looks promising. The meme coin has already gained substantial community support, and its strong presale performance has set the stage for a successful public launch. Investors who are looking for high-risk, high-reward opportunities are turning to Mpeppe (MPEPE) as a potential alternative to Ethereum.

Mpeppe’s success is driven by its appeal as a meme coin, but it also benefits from its association with the broader trends in decentralized finance (DeFi) and the growing interest in meme coins as speculative assets. With its presale price currently at $0.0021 USDT, Mpeppe (MPEPE) offers investors an early opportunity to get in on a project that could see significant returns once it hits major exchanges.

The Future for Ethereum and Mpeppe

As Ethereum continues to face downward pressure, its future remains uncertain. Analysts like Benjamin Cowen have raised valid concerns about ETH’s ability to recover in the short term, especially as it struggles to maintain its value against Bitcoin. The possibility of Ethereum falling to $1,200 is not out of the question, especially if Bitcoin continues to dominate the market.

On the other hand, Mpeppe (MPEPE) future looks bright. As the coin approaches its Tier-1 listings, its momentum is only expected to grow. The meme coin’s presale success and strong community backing make it an attractive option for investors looking to diversify their portfolios and hedge against potential losses in more established cryptocurrencies like Ethereum.

Ethereum’s Decline Against Bitcoin: A Historical Perspective

In his latest video shared with over 811,000 YouTube subscribers, Cowen highlights that Ethereum is currently hovering around 0.04229 BTC, a significant drop from its high earlier in the year. He speculates that Ethereum could fall by at least another 5% against Bitcoin in the near future. Cowen’s analysis points to a historical pattern, where Ethereum has broken down against Bitcoin several times before—most notably in 2016, 2019, and now again in 2024.

Each time Ethereum has broken down against Bitcoin, its value in USD has plummeted by double digits. In 2016 and 2019, Ethereum’s USD value dropped by 70% after similar breakdowns. Cowen warns that if this pattern repeats itself, Ethereum could fall even further, possibly dropping to $1,200—nearly 50% below its current level.

Why Ethereum May Continue to Struggle

Cowen’s warning comes as Ethereum’s price struggles to gain momentum amid broader market concerns. With ETH trading around $2,399 at the time of writing, the cryptocurrency has already fallen nearly 48% from its March high of $4,100. Many investors had hoped that Ethereum’s price would stabilize, especially with the ongoing development of Layer-2 solutions and increasing institutional interest. However, Cowen believes that Ethereum’s price action is likely to remain bearish for the rest of the year.

One of the main drivers behind Ethereum’s underperformance, according to Cowen, is the increasing dominance of Bitcoin and the weakening of the ETH/BTC pair. He points out that similar breakdowns in the past have resulted in steep declines for Ethereum, and this time may be no different. If Ethereum continues to lose ground against Bitcoin, it could face significant challenges in regaining its previous highs.

Conclusion

While Ethereum’s future remains uncertain amid warnings of further declines, investors are increasingly turning to alternative assets like Mpeppe (MPEPE) to protect their portfolios. As Benjamin Cowen’s analysis suggests, Ethereum may continue to struggle against Bitcoin, with the potential for even steeper declines in the coming months. In contrast, Mpeppe’s presale success and upcoming Tier-1 listings offer a glimmer of hope for those looking to capitalize on new opportunities in the crypto market.

As the cryptocurrency landscape continues to evolve, it is clear that investors need to stay informed and remain flexible in their strategies. Whether Ethereum can regain its footing or if meme coins like Mpeppe (MPEPE) will continue to rise remains to be seen, but one thing is certain: the crypto market is as dynamic as ever, and opportunities abound for those willing to explore new horizons.

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Pepe Coin (PEPE) has been a significant player in the meme coin market since its explosive rise earlier in the year. However, recent performance suggests that PEPE is facing a challenging period as it drops a further 11.54%, creating scarcity within the crypto sphere. This drop has led analysts and investors alike to reconsider their portfolio strategies. Amidst the uncertainty surrounding PEPE, many are turning their attention to a rising star in the meme coin world: Mpeppe (MPEPE).

PEPE’s Price Decline and Market Sentiment

Pepe Coin (PEPE) surged to popularity in early 2024, reaching an all-time high of $0.00001718. The excitement around the token was palpable, with many investors hoping it would continue its upward trajectory. However, as is common in the highly volatile world of meme coins, PEPE’s price soon began to falter.

At the time of writing, PEPE is struggling to maintain momentum and has dropped by 11.54%. This latest decline has brought the token down to its current price level of $0.000007359. The token’s price stagnation over the last 30 days, with only a minimal increase of 1.29%, has frustrated many early investors who had hoped for a quick rebound.

Despite the current challenges, some analysts remain optimistic about PEPE’s future. The established support level at $0.000007359 is seen as critical. If the token manages to hold this support, it could potentially rally back to its $0.00001717 price mark. However, with the overall crypto market facing turbulence and uncertainty, the question remains whether PEPE can sustain any long-term growth.

Mpeppe (MPEPE): A Meme Coin to Watch

While PEPE’s performance has been underwhelming as of late, the rising meme coin Mpeppe (MPEPE) is drawing increasing attention. Investors seeking to balance their portfolios and hedge against PEPE’s potential risks are looking at Mpeppe as an exciting alternative.

Mpeppe (MPEPE) has gained significant traction, particularly due to its casino-focused ecosystem, which appeals to both meme coin enthusiasts and online gaming investors. Unlike many other meme coins that rely purely on hype, Mpeppe is building a utility-driven platform that merges entertainment with crypto investments. This combination of humor and function is proving to be a winning formula.

In its presale, Mpeppe has already raised $1.8 million, with 97% of tokens sold. The presale’s success demonstrates strong community support, and the token has surged by 150% in just a short period. As PEPE struggles to regain footing, Mpeppe’s rapid growth is creating waves in the market, with many anticipating even greater gains post-launch.

Why Mpeppe is Gaining Over PEPE

One of the primary reasons Mpeppe (MPEPE) is standing out is its ability to appeal to investors who are wary of purely speculative meme coins. The online casino industry is a massive market, and Mpeppe is leveraging this by offering users a chance to earn while they engage in entertainment. This practical utility gives Mpeppe a distinct edge over other meme coins like PEPE, which rely heavily on community-driven hype.

Moreover, Mpeppe’s (MPEPE) presale performance has been remarkable. Investors who got in early have already seen substantial returns, and as the presale moves into its final stages, excitement is building for what lies ahead. The Mpeppe community is growing rapidly, and with plans for listing on major exchanges, the token is poised for a potentially meteoric rise once it hits the open market.

Analyst Predictions: Balancing PEPE and Mpeppe

With PEPE showing signs of stagnation, analysts are advising investors to consider diversifying their meme coin holdings. PEPE’s established community and market presence make it a solid option for those who are willing to take on some risk in the hopes of a rebound. However, for those looking to balance their portfolios and reduce exposure to the volatility surrounding PEPE, Mpeppe is emerging as an ideal alternative.

The growing scarcity of PEPE, driven by the recent price drop, has made it more challenging for new investors to enter the market at attractive price points. On the other hand, Mpeppe’s current presale offers an opportunity for early adopters to get in before the token reaches the exchanges, potentially capitalizing on future gains.

With both tokens operating within the meme coin space, investors are weighing their options carefully. While PEPE may still have room for a rebound, the momentum behind Mpeppe (MPEPE) suggests that it could offer a more reliable path to growth in the short term.

Conclusion: Mpeppe Shines as PEPE Struggles

As Pepecoin (PEPE) faces an uncertain future following its 11.54% drop, investors are increasingly turning to Mpeppe (MPEPE) as a safer bet within the meme coin market. Mpeppe’s casino-focused platform, coupled with its strong presale performance, makes it an appealing choice for those looking to balance their portfolios amidst the volatility.

While PEPE has the potential to rebound, Mpeppe’s unique offering and rapid growth make it a standout in the meme coin space. As the presale continues to gain traction and Mpeppe prepares for its launch, it’s clear that this meme coin is one to watch closely in the coming months.

 

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The world of cryptocurrencies is teeming with potential, and for those who play their cards right, the dream of becoming a millionaire is not far-fetched. Among the myriad of coins available, Solana (SOL) has established itself as a force to be reckoned with, while Mpeppe (MPEPE) is rising rapidly as a meme coin with serious financial backing. Combining the growth potential of Solana (SOL) with the explosive momentum of Mpeppe (MPEPE) may be the perfect recipe for generating life-changing wealth.

Solana (SOL)’s Stellar Track Record

Solana (SOL) has proven itself as a powerful blockchain with fast transaction speeds and low fees, two crucial factors that have attracted developers and users alike. Since its inception, Solana (SOL) has been regarded as an “Ethereum killer” due to its efficient scalability. Its popularity peaked during the 2021 bull run, with its price reaching highs of nearly $260.

Although 2024 has brought its share of struggles, Solana (SOL) remains a solid investment for those who are in it for the long haul. The current dip in Solana (SOL)’s price—hovering around $130—is viewed by many as a golden buying opportunity, as history shows that the coin has the capability to rebound and surge. For those looking to turn $2,000 into a million, taking advantage of Solana (SOL)’s current undervalued price could be the first step.

Why Mpeppe Is Gaining Attention

While Solana (SOL) has the backing of a well-established blockchain, Mpeppe (MPEPE) is capturing the imagination of the meme-coin community. A fresh player in the world of crypto, Mpeppe (MPEPE) has a promising presale with impressive gains so far. The meme coin space has been historically volatile but offers high returns for those who enter early.

With a growing community, aggressive marketing strategies, and a strong narrative, Mpeppe (MPEPE) has the potential to perform much like past meme coin favorites. Given the coin’s momentum and the recent announcements, Mpeppe (MPEPE) might just be the next meme coin that explodes, offering early investors a chance to ride the wave to financial success.

The Millionaire Blueprint: Strategy for Combining Solana (SOL) and Mpeppe

For those serious about creating wealth through cryptocurrency, diversifying your portfolio with established players like Solana (SOL) while taking calculated risks on newer assets like Mpeppe (MPEPE) can be a winning strategy.

Step 1: Allocate a portion to Solana (SOL) for long-term gains

Solana (SOL)’s strong fundamentals make it a relatively safe bet compared to meme coins. Allocating about 50-60% of your crypto budget to Solana (SOL) ensures you have a stable investment that benefits from market rebounds. While Solana (SOL) is not immune to market volatility, it has consistently shown the ability to recover from dips and provide steady returns over time. With the potential for Solana (SOL) to climb back to its all-time high, an investment today could multiply several times as the next bull market takes shape.

Step 2: Enter Mpeppe at presale for high-risk, high-reward potential

For the remaining 40-50% of your portfolio, entering Mpeppe (MPEPE) during its presale provides the opportunity to capitalize on its explosive growth potential. Meme coins are highly speculative, but those who entered Shiba Inu or Dogecoin early were rewarded with substantial returns. Mpeppe (MPEPE)’s ongoing presale offers a similar opportunity to get in early before the coin hits major exchanges and potentially skyrockets in value.

Given that Mpeppe (MPEPE) is still in its early stages, the risk-to-reward ratio is highly favorable. Investors who are willing to take the plunge could see their investment appreciate exponentially, especially once the meme coin garners more attention and starts to trend within the broader crypto community.

Timing the Market: Buy the Dip, Sell the Pump

For both Solana (SOL) and Mpeppe (MPEPE), timing will be crucial to turning an initial $2,000 investment into millions. The key is to buy when prices are low and market sentiment is bearish, then sell when the euphoria of a bull run drives prices to new highs. Given the unpredictable nature of the crypto market, monitoring trends and news closely is essential.

Solana (SOL)’s current dip is an ideal entry point, while Mpeppe (MPEPE)’s presale stage ensures you can enter before prices increase upon listing. Once Solana (SOL) regains its footing and Mpeppe (MPEPE) starts its anticipated bull run, selling portions of your holdings at key moments will help lock in profits along the way.

Conclusion: The Millionaire Mindset

Becoming a millionaire in the world of cryptocurrencies requires a mix of patience, strategy, and willingness to take risks. With a combination of established assets like Solana (SOL) and the rising star Mpeppe (MPEPE), investors can position themselves to achieve life-changing gains. As always, diversifying your investments and staying updated with market trends are essential to riding the waves of both coins to success.

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The increasing odds of Donald Trump nominating Elon Musk for a cabinet position have resulted in a discussion of the potential implications on the cryptocurrency market.

According to Polymarket, as of September 5, 2024, there is a 21% likelihood of that occurring, which is significantly higher than the 13% seen just one day earlier.

This speculation has come off the back of reports stating that Trump is considering Musk to run a government efficiency commission.

Musk’s involvement in the Trump administration raises one all-important question: How would that change crypto regulation and its institutional adoption?

Trump And Musk: Crypto-Friendly Future?

Musk’s would-be appointment is likely to be a game-changer for the cryptocurrency market. As a strong crypto bull, he has all the levers to influence more friendly regulations.

Joining the Trump cabinet, Musk would be most likely able to craft policies that would advance innovation and institutional adoption of cryptocurrencies.

This will result in a friendlier environment for companies engaging in crypto businesses, which means it would attract more and more companies into incorporating digital currencies into their operations.

I look forward to serving America if the opportunity arises.

No pay, no title, no recognition is needed. https://t.co/5PSNtjBQn7

— Elon Musk (@elonmusk) September 5, 2024

Furthermore, Musk’s focus on renewable energy would boost efforts for sustainable practices in crypto mining. Drawing from his previous work with Tesla and SpaceX, Musk might support regulations that create some incentives for renewable energy sources in mining processes.

This would flip the page on crypto’s environmental impact and also go a long way toward its acceptance by the public, thus making it more palatable to mainstream investors and institutions.

Market Reactions And Speculation

Markets have responded somewhat coolly to the announcements. Since the reports surfaced, tokens connected to Trump and Musk have gone in different directions.

The MAGA Hat token jumped 2.4%; the Elon token leapt 9.5%. By comparison, MAGA, the biggest token with Trump themes, has dropped over 16% during the week. Furthermore rising by more than 4.5% is Tesla’s shares.

In the larger cryptocurrency market, Bitcoin still falls below $57,000; Ethereum is down at $2,400. If anything, over time the performance of cryptocurrencies has shown fortitude against political fortunes.

Bear in mind how Bitcoin reached record highs during both the Obama and Trump regimes. While this means political environments can most definitely impact cryptocurrency market sentiment, they are not sole value drivers.

The Bigger Picture

The stakes are huge for either Trump or Musk as the election draws near. The Trump campaign has been actively courting the crypto community, promising to make the US “the crypto capital of the world”--a utopian ideal that resonates deeply in that demographic, however much the vision remains in vague outline.

While some have been salivating for even the prospect of specific policy proposals, many questions remain unanswered in light of Trump’s recent failure to deliver on a promised crypto initiative.

The excitement generated by Musk’s possible cabinet role may rejuvenate the interest in Trump’s crypto plans, but if and when these materialize into actual concrete actions, nobody can tell.

In other words, Musk could be a pro-crypto appointment that will introduce crypto-friendly regulation and stir a fever of innovation and institutional adoption.

Featured image from Pexels, chart from TradingView

Тревожные ожидания в экономике не придают инвесторам аппетита к риску. Возможно, все изменится, если в США Федеральный резерв опустит хотя бы чуть-чуть процентную ставку — ради дешевых банковских кредитов. А пока криторынок продолжает медленно, но верно дешеветь.

An analytics firm has revealed that three altcoins have been seeing bearish bets on Binance, which may help fuel rebounds.

Tron, Stellar, And 1inch Have Seen Negative Funding Rates Recently

In a new post on X, the on-chain analytics firm Santiment has recently discussed the trend in the Binance Funding Rate for a few different altcoins.

The “Funding Rate” is an indicator that keeps track of the periodic amount of fees that the traders on a given derivatives exchange (which, in the current case, is Binance) are exchanging between each other.

When the metric has a positive value, it means the long contract holders are paying a premium to the short investors to hold onto their positions right now. Such a trend implies a bullish mentality is the dominant one in the market.

On the other hand, the indicator under the zero mark suggests that the short investors currently outweigh the long ones, so the majority shares a bearish sentiment.

Now, here is a chart that shows the trend in the Binance Funding Rate for three altcoins, 1inch Network (1INCH), Tron (TRX), and Stellar (XLM), over the past month:

The above graph shows that the Binance Funding Rate has been negative for all three of these altcoins recently, suggesting that more traders have been trying to bet against a price rise.

1inch appears to have been having it the worst in terms of this indicator, with its value currently being a negative 0.079%. While the red values of the metric would suggest the crowd has been bearish, they may not be bad for their prices.

This is because a mass liquidation event is generally the most likely to affect the market with the most positions. The probability of such liquidations will be raised even more if the positions on the market involve significant leverage. As Santiment explains,

When we see heavy bets against an asset, liquidations can occur which act as “rocket fuel” for the asset’s price to rise higher. Going against the crowd of doubters could pay dividends.

Thus, it remains to be seen how the prices of these altcoins will develop from here on out, given this potential rocket fuel brewing in the background.

TRX Price

Tron, the largest of these three altcoins, has had a bearish week, much like the rest of the cryptocurrency sector, but in terms of monthly returns, TRX investors haven’t had a bad time at all as the asset has managed to outperform the likes of Bitcoin (BTC) with its 18% surge.

The below chart shows what the recent performance of Tron has looked like.