🇸🇬 In Singapore, crypto enthusiasts caused chaos in a shopping mall when the mega-event Token2049 overlapped with a Berachain community party. 🕺

Ethereum Faces Struggles: Short-Term Outlook Remains Weak 📉

Ethereum is having a hard time bouncing back, with its price stuck below $2,350. Key resistance at $2,360, along with bearish RSI and MACD indicators, suggests continued weakness in the short term.

🔑 Key Points:

▪️Ethereum failed to break resistance at $2,450 and dropped below $2,350.

▪️Technical indicators show bearish trends, with RSI below 50 and MACD losing momentum.

▪️Large Ethereum holders (whales) are selling off, adding downward pressure.

Market sentiment has also weakened, and analysts warn that unless Ethereum can break through key resistance, it may face further declines, with potential drops to $2,250 or even $2,150. 🤷

BlackRock’s IBIT Sees First Net Inflows in 3 Weeks as Spot Bitcoin ETFs Attract $12.8M 💸

After a 3-week dry spell, BlackRock's IBIT spot Bitcoin ETF finally saw $15.8M in net inflows, marking its first positive day since August 26. 🧐

Other Bitcoin ETFs like Fidelity’s FBTC and VanEck’s HODL also gained inflows, while Grayscale's GBTC saw outflows of $20.8M.

Despite recent struggles, BlackRock’s IBIT still dominates the market with $20.9B in net inflows since January. Meanwhile, spot Ethereum ETFs continued to struggle, experiencing $9.4M in outflows.

🥷 Hacker DeltaPrime has begun laundering stolen cryptocurrencies using the Tornado Cash mixer.

Yesterday, 1336 ETH (worth $3 million) were moved from Artbirum to Ethereum, then the funds were spread out and converted to BTC via THORChain.

Currently, 1150 ETH (approximately $2.67 million) are still held in the hacker's address.

🚀 BitGo to Launch Dollar-Backed USDS Stablecoin in 2025!

BitGo has announced the upcoming launch of its USDS stablecoin, set to debut in 2025. Backed by short-duration treasury bills, overnight repos, and cash, USDS aims to differentiate itself by rewarding institutions that provide liquidity to its ecosystem. 💰

USDS will be the first stablecoin to promote innovation and offer incentives for network builders. 🔨

Institutions providing liquidity will earn a share of returns generated from the reserves, enhancing engagement. 💲

BitGo aims to secure $10 billion in assets within the first year of launch. 📈

🎤 Vitalik Buterin Celebrates Ethereum Milestones at Token2049

At Token2049 in Singapore, Vitalik Buterin highlighted the significant drop in Ethereum Layer 2 (L2) transaction fees, now nearly zero, as a major achievement for the crypto ecosystem. He reminisced about his past struggles with high fees, including a staggering $800 for a single transaction. 👀

📉 Buterin noted that fees have plummeted from over $10 to under $0.01, making Ethereum more accessible.

Thanks to the Ethereum Merge, transaction confirmation times have improved, with Buterin reporting transactions confirmed in just 5 to 15 seconds. ⏳

He emphasized the need for the crypto industry to meet mainstream demands while preserving decentralization and open-source values.

And Buterin also sang a little song. 😁

🚨 Kamala Harris Presidency Could Drive US Crypto Firms Abroad, Says Nansen CEO

👀 Nansen CEO Alex Svanevik states that a Trump presidency would likely be bullish for the US crypto sector, as he is seen as a pro-crypto candidate.

Conversely, if Kamala Harris wins, Svanevik believes it could foster a hostile environment for crypto in the US, prompting firms to relocate overseas.🌐💼

📉 Fed Rate Cut Could Crash Crypto Markets, Warns Arthur Hayes 🙀

Arthur Hayes, co-founder of BitMEX, predicts that a Federal Reserve rate cut could lead to a crash in risk assets, including cryptocurrencies. 🤔

Expected to be announced soon, this cut may exacerbate inflation and strengthen the Japanese yen, which historically triggers market volatility. 📊

👀 Hayes argues that lower borrowing costs will fuel inflation, complicating the economic landscape. He highlights that a stronger yen could force investors to unwind positions financed by yen loans, as seen in August when Bitcoin plummeted from $64,000 to $50,000 due to similar dynamics.

Despite the potential immediate negative impact on the crypto market, Hayes notes that ultra-low interest rates might eventually reignite interest in yield-bearing assets like Ethereum (ETH), which offers staking yields. 🧐

He believes that as central banks lose relevance, crypto will emerge as a portable asset in a shifting economic landscape. 🌐

🚀 Bitget and Foresight Ventures Invest $30M in TON Blockchain!

Cryptocurrency exchange Bitget and Foresight Ventures have announced a significant $30 million investment in The Open Network (TON) blockchain. 💰

This funding aims to boost the development of Telegram-based projects, particularly tap-to-earn games, which have recently attracted millions of users. 🖐

👻 Phantom Wallet has introduced personalized address identification

This new feature simplifies interactions with counterparties and minimizes the risk of errors during transfers. 💵

In Q2 2024, Tether's reserves reached $118.4 billion, surpassing its liabilities by $5.3 billion. 💰

With $97.6 billion in U.S. Treasury bonds, Tether is now the 18th largest holder worldwide, ahead of countries like Germany, the UAE, and Australia. 🧐

Over its history, Tether has frozen around 1,850 wallets, successfully recovering more than $113 million in stolen assets. 🥶

The U.S. Federal Reserve has cut the interest rate by 50 basis points, lowering it to 4.75-5% annually. 📉

This marks the first rate reduction in 4.5 years, after keeping it at 5.25–5.5% since July 2023. 🧐

The market's response has been mixed. Bitcoin initially spiked to $61,000 following the rate cut news, then dropped to $59,500, and is now trading around $60,000.

🍔 Trump bought burgers with BTC!

Last night, Trump made a cryptocurrency payment at a bar in New York.

It’s his first transaction on the Bitcoin network as a presidential candidate. 💪

He can afford it, especially with Bitcoin up 3% overnight 😎 📈

BlackRock released a nine-page white paper positioning Bitcoin ETFs as a "unique diversifier" capable of hedging against fiscal, monetary, and geopolitical risks. 💪

There’s also a section titled "Bitcoin’s Path to $1 Trillion in Market Capitalization." 💰📈

🥷 Malicious actors have targeted the Ethena protocol interface.

Ethena Labs, the developer behind the synthetic dollar USDₑ, has temporarily shut down the project's website following a hack of their domain registrar account. 🤷

The site will remain offline until the issue is resolved.

The team urged users to steer clear of any website or application impersonating the Ethena frontend. 🧐

They also confirmed that the Ethereum-based protocol remains unaffected and that users' funds are safe.

Introducing the New Phone from Solana 📱

Solana has launched the Solana Seeker, its latest phone model.

🎮 The ecosystem of apps and features has been expanded, allowing users to interact with DeFi, DePIN, payments, games, NFTs, and more from the Solana community.

The phone is priced at $450. Will this model be worth it? 🤑

🇩🇪 Germany Seizes Servers from Over 40 Crypto Exchanges! 🚨

👀 German authorities have confiscated servers from more than 40 online exchanges. When users visit these sites, they are redirected to a page by the German Criminal Police regarding "Operation Final Exchange." 👮‍♀️

The operation targets affiliates of ransomware groups, botnet owners, and darknet service vendors. The police claim to have seized servers believed to be used by criminals and have access to personal data, transaction details, and IP addresses. 🤔

This significant crackdown highlights ongoing efforts to combat cybercrime in the crypto space. Stay vigilant!

🍌 Users of the Telegram bot Banana Gun have reported hacks on their wallets

The developers are currently investigating the issue. 🧑‍💻

It's estimated that 563 ETH was stolen from 36 victims.

Some believe that Banana Gun itself wasn't compromised, as the number of affected users is quite low. 🤔