PRESS RELEASE. Geneva, Switzerland, October 9, 2024 – TRON DAO was proud to host the TRON Builder Tour at Columbia University with Blockchain at Columbia and Boston University Blockchain on October 5. The TRON Builder Tour merges hands-on workshops with enriching discussions, connecting students, developers and mentors. Previously, TRON DAO has organized successful TRON Builder […]

Hedera, a proof-of-stake platform, wasn’t spared from aggressive bears in early October. After HBAR, its native token, floated higher in September, the rejection of bulls in early October resulted in a double top. Overall, there is optimism that bulls will resume and push prices to new Q4 2024 highs. The pace of this growth will depend on how the market performs and whether fundamental factors around the project will prop up buyers. Will HBAR Rise By At Least 30X? While there are cracks in the HBAR price action, considering the dump from April highs of around $0.18, one analyst on X thinks the token is set for major gains. From his assessment, Hedera can easily score 30X in the coming sessions, mirroring the gains posted by Cardano in the last cycle. Then, ADA soared by over 170X. If HBAR is to follow the same path, the token can easily soar to $6, over 60X from its 2024 highs. Related Reading: Bitcoin’s Non-Realized Profits Hit Negative Levels—What Does This Mean for Investors? Presently, technical candlestick arrangements favor sellers. After the rally to $0.18 in April 2024, HBAR has been falling. To put the numbers into perspective, the token is down 70% but is stable after finding support in August and September. The local resistance is the double top at around September highs. If prices break above this liquidation zone, HBAR bulls could embark on the journey to drive the coin to $0.18. In effect, this will resume the uptrend set in motion in Q1 2024 and early Q2 2024. Hedera Fundamentals Key To Driving Growth There are fundamental factors to consider that may propel HBAR, helping the token shake off weaknesses. Early this month, Canary Capital released the first United States HBAR Trust.   Like Grayscale products, including the ETHE and GBTC, the HBAR Trust allows institutional investors to gain exposure to HBAR. Accordingly, this could drive demand, lifting prices. Related Reading: ETH’s Fate Hinges On $2,300: Will Ethereum Soar To $6,000 Or Dive To $1,600? In September, Hedera launched the Asset Tokenization studio. Through this solution, the network would be at the forefront of driving the tokenization of real-world assets (RWAs) while adhering to existing laws. Already, BlackRock, one of the world’s largest asset managers, believes tokenization will rapidly grow in the coming years, managing trillions. According to rwa.xyz, over $12.7 billion worth of RWAs has been tokenized. Additionally, there is interest. In the last month alone, the number of RWA holders rose to 68,929, a 4% increase. Most of these assets are tokenized on Ethereum and Stellar. Feature image from DALLE, chart from TradingView

Following the premiere of “Money Electric,” a film pointing fingers at Peter Todd as the mysterious Satoshi Nakamoto, former Bitcoin developer Amir Taaki decided to weigh in. Taaki shared some insights on Satoshi’s coding style, suggesting that it reveals clues about their background. According to the outspoken privacy advocate, the code itself hints at an […]

The Bitcoin price is still recovering from a major dip to $60,000 in the first three days of October. As the bulls and long-term holders continue to capitalize on the dip, analysis of on-chain data has revealed that the selling pressure has been eased massively as the majority of short-term holders have exited the market. Interestingly, these short-term holders are accountable for the drop to $60,000, as the data shows many of them exiting the market during the initial decline, further exacerbating the price drop.  Short-Term Holders Exit The Market According to an analysis of Bitcoin holder cohorts using data from the CryptoQuant platform, the supply of Bitcoin held by short-term holders has declined substantially since the beginning of the month. Although this contributed to a Bitcoin price decline during this timeframe, it is not necessarily bad for the crypto moving forward. This notable decline is visible in purple bars in the chat below, with every period of price downturns highlighted by an increase in short-term holder selloffs.  Related Reading: Cardano Price Prediction: Analyst Forecasts ADA Price Rocket To $5 The Bitcoin price, which ended September around $65,000, kicked off October with a price dip amidst broader market tensions. This, in turn, led to a 7.5% Bitcoin price dip until it bottomed at $60,100. Notably, the chart highlights that this most recent decline to the $60,000 level coincided with the emergence of more purple bars, revealing that the selloff by short-term holders played a significant role in the price decline. What Does This Mean For Bitcoin? Moving forward, the selloff from short-term holders and the price decline has given rise to more accumulation by long-term holders. This, in turn, gives rise to the creation of a price floor around $60,000 in the coming weeks and months. It also marks the shift of more bitcoins to stronger hands who would rather hold than sell. Related Reading: 72% Of ETHUSDT Traders On Binance Go Long – Is This The Buy Signal You Need? Notably, the exit of many short-term holders has given rise to a better average cost for the cohort. According to on-chain metrics revealed by a verified CryptoQuant analyst, the average cost of one to three-month holders is now around $61,633, and the average cost of three to six-month holders is around $64,459.  At the time of writing, Bitcoin is trading at $62,130, which positions it right in the middle of these two key holder cohorts. According to analyst Burak Kesmeci, a decisive close above the $64,500 level would significantly strengthen the bullish momentum, giving both short and long-term holders more confidence to continue holding. On the other hand, if Bitcoin falls below $61,600, it could trigger a wave of additional selling pressure from more short-term holders, potentially leading to further price declines to revisit $60,000 again. Featured image created with Dall.E, chart from Tradingview.com

Based on the latest data, U.S. spot bitcoin exchange-traded funds (ETFs) ended the day with net losses, while spot ethereum ETFs also experienced a decline. $18.66M Flows Out of Bitcoin ETFs as Ethereum Funds Also Falter On Tuesday, the 12 spot bitcoin ETFs saw $18.66 million flow out, with a trading volume hitting $1.35 billion. […]

Anthony
Scaramucci, the Founder of SkyBridge Capital investment firm, has voiced
criticism of the current state of cryptocurrency regulation in the United
States. The former White House Director of Communications called for a more bipartisan approach and suggested
that the European Union’s Markets in Crypto-Assets (MiCA) regulation could
influence US policy.

Anthony Scaramucci Slams “Destructive”
US Crypto Regulators

In an
exclusive comment to Finance Magnates, Scaramucci emphasized the
importance of collaborative actions across divisions in terms of market
regulation. “I think it’s very important that we have a bipartisan
commitment to crypto,” he stated, praising the efforts of Senators Kirsten
Gillibrand and Chuck Schumer from New York.

However,
Scaramucci expressed strong disapproval of what he termed the “Elizabeth
Warren and Gary Gensler hegemony” in shaping US crypto policy. “I
think they’ve been very destructive to the industry unnecessarily,” he
said, suggesting that their approach has been arbitrary and potentially
motivated by factors beyond regulatory concerns.

The former
White House communications director pointed to the regulators’ past
interactions with Sam Bankman-Fried, the disgraced founder of FTX, as a
possible factor in their current stance.

“They
were very close to Sam Bankman-Fried’s parents. They met with Sam Bankman-Fried
many times,” Scaramucci claimed, adding that he believes they were
“embarrassed by Sam” and subsequently took a harder line against the
crypto industry.

“I think
they did that unfairly, and they did that arbitrarily and capriciously, which
is reflected in all the lawsuits that they’ve lost,” Scaramucci concluded in
response to a question posed by Finance Magnates during an interview
organized by Saxo Bank, in light of the upcoming US presidential elections.

An example
of what Scaramucci is referring to is the recent decision by the cryptocurrency
exchange Crypto.com to take the Gensler-led Securities and Exchange Commission
(SEC) to court, claiming
regulatory overreach.

Crypto Regulations in the
US vs. Europe

Scaramucci’s
comments come as the cryptocurrency industry faces regulatory
uncertainty in the United States, while the European Union moves forward with
its comprehensive MiCA framework. The contrast between the two approaches has
led to speculation about whether the US might eventually adopt elements of the
EU’s regulatory model.

So far,
however, The US has adopted a more fragmented regulatory approach, relying on
existing financial regulations and enforcement actions rather than
comprehensive crypto-specific legislation.

For
example, the SEC focuses on regulating crypto assets that may qualify as securities, the CFTC oversees crypto derivatives and commodities, and FinCEN handles anti-money laundering
compliance.

In
contrast, the EU has taken a more proactive and unified approach to crypto
regulation. The block approved “Markets in Crypto-Assets Regulation” or MiCA, the world’s first comprehensive
regulatory framework for cryptocurrencies.

Presidential Elections and
How They Can Influence Crypto

With just
four weeks until Election Day, Vice President Kamala Harris’s campaign is
showing signs of strength, but the race remains too close to call according to
political analysts, according to Scaramucci.

The former
Trump administration official turned critic believes the current polls are
accurately reflecting voter sentiment, unlike in previous elections where
Trump’s support was underestimated.

“I
think the race is currently too close to call,” Scaramucci said in a
recent interview with Saxo Bank. “And I think the race is definitely
winnable for both sides.”

While
former President Trump maintains high name recognition and plans to hold daily
rallies in the final weeks, the Harris campaign has deployed an unprecedented
ground game. With a staff of 2,000 and approximately 200,000 volunteers working
the equivalent of 300,000 shifts, Harris’s operation dwarfs that of previous
Democratic campaigns.

“This
is very different from 2016 because they’re in the field, they are working, and
she is showing up,” Scaramucci noted, contrasting Harris’s approach with
Hillary Clinton’s 2016 strategy.

However,
Harris still faces challenges in voter familiarity compared to her opponent.
“Trump has something that she doesn’t have. He has a hundred percent brand
name saturation,” Scaramucci explained. “Harris started on this real
assault for the presidency on the 21st of July, but I would say that she’s
still somewhat unknown.”

Despite
this, Scaramucci believes Harris has momentum on her side. The Vice President
is outpacing Trump in both media appearances and fundraising, with projections
suggesting she may have a two-to-one advantage in campaign spending.

Scaramucci
believes Harris could support a “middle-of-the-road cryptocurrency
legislation” that fairly regulates the industry. On the other hand, Trump’s
pro-crypto stance could lead to appointing crypto-friendly officials in
regulatory bodies.

This article was written by Damian Chmiel at www.financemagnates.com.

Murad Mahmudov has (once again) garnered major attention in recent weeks, establishing himself as one of the leading crypto analysts—analogous to Keith Gill, also known as “Roaring Kitty,” in the stock market. Mahmudov has reportedly transformed an initial investment of just $2 into a fortune exceeding $100 million over the past five years. This astounding feat was detailed by Pix (@PixOnChain), an advisor to Mintify and researcher at Jirasan, and further analyzed by crypto analyst Rekt Fencer (@rektfencer) on X. This is Murad In 2020, he went bankrupt during the COVID crash Now, he’s a memecoin whale, making MILLIONS every day Here’s how he did it — and what he thinks is coming next 👇🧵 pic.twitter.com/jqv0pS2PT1 — Rekt Fencer (@rektfencer) October 8, 2024 From Bitcoin To Crypto To Memecoins Murad Mahmudov’s entry into the world of cryptocurrency began in 2013 while he was an exchange student in China. Surrounded by forward-thinking peers deeply invested in Bitcoin, he developed an early interest in digital assets. After a period working with financial giants Goldman Sachs and Glencore, Mahmudov returned to the crypto sphere in 2016, fully embracing the role of a Bitcoin maximalist. In 2018, he made headlines with a bold prediction: Bitcoin would reach $10 million per coin. This assertion was considered audacious even among staunch Bitcoin advocates. Despite his Bitcoin-centric philosophy, Mahmudov was quietly accumulating altcoins, including Ethereum at $150. Related Reading: Crypto Analyst: Why Memecoins Are Still The Next 100x Opportunity Capitalizing on his market insights, Mahmudov co-founded Adaptive Capital in 2019 alongside several colleagues. The fund initially outperformed expectations, leveraging a formula that seemed to consistently beat the market. However, the unforeseen global COVID-19 pandemic in 2020 dramatically shifted the economic landscape. With significant long positions in Bitcoin, Adaptive Capital faced catastrophic losses as exchanges experienced outages during critical trading periods. The fund ultimately closed, returning the remaining capital to investors after sustaining a 55% loss. This pivotal moment prompted Mahmudov to reassess his investment strategies. Taking a hiatus from active trading, he re-emerged in June 2022 with a renewed perspective on the crypto market. The Memecoin Supercycle Recognizing emerging trends, Mahmudov shifted his focus to memecoins. He introduced the concept of the “Memecoin Supercycle,” positing that these tokens represent the next significant growth opportunity in the crypto market. Related Reading: RIP Altcoin Seasons? Crypto Analyst Debates Whether They’ll Ever Return In a viral post on September 12, Mahmudov unveiled his top ten high-conviction memecoin investments, complete with ambitious long-term market capitalization targets. Among them were tokens like SPX6900 SSPX on Ethereum, which he believes could reach a $100 billion market cap, asserting it as the “number one movement coin in the world” with a mission to “flip the stock market.” His predictions were met with skepticism, with some labeling him as overly optimistic. However, his conviction remains unshaken. “I’ve spent the last 10 weeks locked in my room doing nothing but studying Memecoins, silently hanging out in their groupchats, simply observing and studying their lore to develop conviction on my Top 10 long-term Memecoin plays. I will be sharing all 10 over the next 10 days,” he writes. Mahmudov’s insights gained significant traction following his recent presentation at Token2049. According to Mechanism Capital’s Andrew Kang his talk at Token2049 “catalyzed the next wave of capital reallocation into memecoins.” Crypto analyst Miles Deutscher summarized the key points of Mahmudov’s speech, noting the exceptional performance of memecoins in the current market cycle. Mahmudov emphasized that “assets will no longer move up in unison,” highlighting the distinct outperformance of memecoins compared to traditional altcoins. Murad’s recent speech at TOKEN2049 has ignited a memecoin frenzy. It will change your ENTIRE outlook on crypto (and could net you huge gains). If you haven’t watched it yet, you NEED to read this thread. 🧵: Breaking down @MustStopMurad‘s memecoin theory.👇 — Miles Deutscher (@milesdeutscher) October 8, 2024 He argued that memecoins fulfill retail investors’ desires for community, identity, and excitement—elements often missing from utility-focused altcoins. “Memecoins as a superior version of altcoins,” Mahmudov asserted. “Memecoins are outpacing altcoins by delivering what retail actually craves: community, identity, and excitement, not just potential gains. It’s not just speculation, it’s culture, Deutscher explained. At press time, leading Solana based memecoin WIF traded at $2.52, up 75% in the last three weeks. Featured image created with DALL.E, chart from TradingView.com

One of the biggest names in crypto is stirring up talk about frog meme coins. Whale Insider, a popular Twitter account, just named Pepe (PEPE) and other frog-themed tokens as the best cryptos to watch right now. Whale Insider Announces Top Frog Meme Coin Picks Whale Insider is a big name in the industry and […]

On Wednesday, seasoned trader Peter Brandt shared his long-term perspective on bitcoin, predicting it could reach $135,000 by August or September 2025. This forecast comes with a key caveat: for the projection to hold, bitcoin must stay above a crucial support level of $48,000. Should it drop below this mark, Brandt suggests his current chart […]

The Ethereum Foundation was at the center of attention recently concerning a liquidation plan it has set in place to sell parts of its Ether balance. Related Reading: Analyst Foresees 90% Cardano Price Drop in Next 6 Months According to the on-chain tracker Lookonchain, a wallet linked to the foundation moved 2,500 ETH, valued around $6 million, to the exchange Bitstamp on October 8, 2024. This is part of an increasing trend in which large holders, colloquially known as “whales,” are selling their holdings in the face of this volatile market environment. A whale deposited 11,456 $ETH($27.8M) to #Binance in the past 40 minutes!https://t.co/0L5r2u9wF9 pic.twitter.com/gNZI3pKAEx — Lookonchain (@lookonchain) October 8, 2024 Significant Transactions Uncovered Lookonchain claims this is not the only transaction this foundation has lately done. ETH sold overall in 2024 is as high as 3,766, which brought $10.46 million. The organization sold 950 ETH in September, equal to $2.27 million. They sell them often, roughly every 11 days. The transaction averages about 151 ETH in size. The foundation still retains a significant sum: 271,274 ETH, or about $655 million. Market Reactions And Jitters The crypto community has a reason to worry over the continuous selling of Ethereum. Much of the investors have severely feared that this huge liquidation might lead to downward pressure on ETH prices. During the last 14 days, the price of Ethereum went down by around 8%. This has led some analysts to speculate that these selling events are contributing factors behind the bearish market of ETH. Community commentators are divided between interest and concern regarding the history of the wallet by the foundation, how it affects the market dynamics, Lookonchain has disclosed. Related Reading: Cardano Surges In Strength—Now 10x More Powerful, Analyst Says Future Financial Planning Such sales, according to Aya Miyaguchi, an executive director of the Ethereum Foundation, are part of a deliberate financial strategy – working to pay for operational costs and cover the costs of ongoing projects. The entire annual budget is estimated to be around $100 million, with some of these costs – such as salaries and grants – requiring fiat currency. Thus, turning part of the ETH reserve into stablecoins like DAI has become routine. With the Ethereum Foundation still working through its financial situation in a volatile market, only time will tell how these continued sales will affect both the price of ETH and the robustness of the Ethereum ecosystem. With quite a bit of resources still locked up by the foundation, individuals are paying close attention to look for changes or constructive/violent reactions in the market. Featured image from ETF Stream, chart from TradingView

Muinmos, a Danish RegTech firm, and cryptocurrency
firm XBO.com partnered to improve how crypto exchanges onboard users. This
collaboration promises speed, efficiency, and compliance with regulatory
standards.

Automating Compliance

XBO.com’s integration of Muinmos’
software-as-a-service platform aims to improve users’ experiences while strengthening the exchange’s risk management capabilities.

According to a statement shared with Finance Magnates,
Muinmos aims to enhance the platform’s ability to monitor transactions and
detect suspicious activities by automating Know Your Customer (KYC) processes,
performing real-time client classification, and conducting continuous risk
assessments.

“XBO.com is at the forefront of the crypto
industry, and we are delighted they selected Muinmos when looking to take their
KYC and onboarding to the next level, Remonda Kirketerp-Møller,” the CEO
of Muinmos said.

“Onboarding new users is one of the first
interactions customers have with an exchange and, with our platform integrated
into theirs, XBO.com has a secure, automated system which enables quick,
efficient, and compliant onboarding of users, enhancing the overall user
experience for their clients.”

XBO.com, through its partnership with Muinmos, is
reportedly seeking to address these challenges by introducing an automated KYC
and onboarding process. It aims to boost XBO.com capabilities in dealing with
potential security threats.

Setting New Standards

The Muinmos platform enhances regulatory compliance
by incorporating traditional KYC checks, corporate data verification, and
client risk assessments into a single, efficient workflow. The integration aims to accelerate the registration
and verification processes and strengthen the exchange’s ability to mitigate
potential risks. For crypto users, this translates into quicker access to
services without sacrificing security.

In May, Muinmos and Blade Labs collaborated integrate
client onboarding Platform of the former into the Digital Asset Platform of the
latter. The partnership seeks to improve client onboarding process and address
the challenges faced by compliance officers in the digital assets space.

Munimos offers a client onboarding platform with AI
capabilities that aim to streamline the client onboarding process, including
investor classification. This offering allows enterprises and financial
institutions to determine whether they can onboard clients and provide them
with specific services in a given jurisdiction while ensuring continuous
updates of regulations, client information, and risk profiles.

This article was written by Jared Kirui at www.financemagnates.com.

The CEO of the on-chain analytics firm CryptoQuant has explained how the Bitcoin whales have been showing a shift in their Realized Cap recently. New Bitcoin Whales Are About To Overtake Old Ones In a new post on X, CryptoQuant CEO Ki Young Ju has discussed the recent trend in the Realized Caps of the new and old Bitcoin whales. The “Realized Cap” here is a model that calculates the total valuation of Bitcoin by assuming that each coin’s ‘true’ value in circulation is the price at which it was last transferred or sold on the blockchain. The last transfer of any coin is likely the last point at which it changes hands, so the price at its time could be equated to its current cost basis. As such, the Realized Cap measures the sum of the cost basis of the BTC supply. Or, put another way, this metric keeps track of the total amount of capital the investors have put into BTC. Related Reading: Bitcoin Supply In Loss Nears 20%: Could This Trigger A Fresh Surge? In the context of the current topic, the version of the Realized Cap that’s of interest is limited to just two segments of the market: the new and old whales. Whales refer to entities carrying more than 1,000 coins in their wallets. This cohort is divided into two based on age using a 155-day cutoff. All whales bought within the past five months belong to the short-term holder or new whale cohort, while those who have been holding for longer than this duration are called the long-term holder or old whales. Now, here is a chart that shows the trend in the relative percentages of the Realized Cap contributed by these two Bitcoin groups: As the above graph shows, the Realized Cap of the new Bitcoin whales wasn’t anything significant before 2018, indicating that veteran capital was king on the network. Following 2018, though, the percentage dominance of this group gradually started to show an improvement. And this year, the growth in the Realized Cap of this cohort has blown up, with the metric’s value now sitting at $108 billion. For perspective, the indicator is standing at $113 billion for the old whales, which suggests the disparity between the two almost nonexistent. “Bitcoin whales are experiencing a generational shift,” notes Young Ju, based on this trend. “Realized Cap of new whales is expected to surpass that of older whales soon.” Related Reading: Bitcoin Investors Not Sold On Uptober As Sentiment Remains Neutral As for the sudden sharp growth in the Realized Cap of the new whales, it’s likely that the inflows into the spot exchange-traded funds (ETFs) have been falling in this category. BTC Price At the time of writing, Bitcoin is trading at around $62,200, down more than 2% over the past week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

SUI has been one of the few assets that appears to be having a lone bull run despite the struggle of certain cryptocurrencies in the market to reclaim their major highs. Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17 yesterday with a 24-hour high of $2.13. Although the asset is currently facing a price decline down by 4.3% in the past 24 hours with a current trading price of $1.99, a prominent crypto analyst known as CryptoBullet has taken to his X account to address investors on whether now is the best time to sell SUI. Related Reading: Can SUI Break Past $2 Resistance? On-Chain Metrics Reveal Growing Demand Should You Sell Your SUI Now? While it may seem tempting for some to sell during this price dip, CryptoBullet suggests otherwise. The analyst noted, “I know it might be tempting to sell SUI here, but it’s the wrong timing imo [in my opinion].” The analyst explained that the crypto is experiencing its fourth test of the $2 level, a key technical point, adding that “the more times a level is tested, the more likely it is to break.” CryptoBullet believes this could indicate a bullish breakout, pointing to the formation of a Cup and Handle pattern. Additionally, CryptoBullet highlighted some of SUI’s achievements that could further propel its bullish case. These include a market cap that nearly reached $6 billion, a transaction per second (TPS) rate exceeding 1,000 for the past three days, and SUI ranking as the second-largest non-EVM chain by total value locked (TVL) at $1.08 billion. Strong Growth Ahead For Ecosystem? Another crypto analyst known as ‘Easy’ on X echoed CryptoBullet’s optimism, comparing SUI’s potential to Solana’s meteoric rise in 2021. According to the analyst, “Sleeping on SUI is like sleeping on SOL in 2021.” He emphasized that SUI’s metrics, including TVL and trading volume, are showing strong growth, which could indicate that the crypto is poised for a significant bull run. Related Reading: Can SUI Fall To $1.40? On-Chain Data Exposes Declining Demand The analyst also noted the rise of memecoins on the network, with some tokens seeing a minimum 250% increase in value over the last 24 hours. Sleeping on SUI, is like sleeping on SOL in 2021. SUI is going to dominate the entire bull run. All metrics are pointing to massive growth on the SUI ecosystem From TVL to Volume, it is gaining a level of traction that is unprecedented when compared to other blockchains. The… pic.twitter.com/VfZ7DVZ1dz — Easy (@EasyEatsBodega) October 7, 2024 It is easily concluded by expressing confidence in SUI’s future growth, suggesting that the current price could be a “steal” for long-term investors. He revealed plans to accumulate more SUI on market dips, setting an ambitious price target of $10 for the asset. Featured image created with DALL-E, Chart from TradingView

The government of Palau has taken a major step towards integrating blockchain technology into its economy with the launch of Palau Invest, a digital savings bond platform. This initiative, developed in collaboration with Japan, offers citizens a unique opportunity to invest in national infrastructure projects and boost economic growth. Palau Launches Blockchain-Based Savings Bonds The […]

Wirex Pay introduced its modular chain for payments, enhancing security through non-custodial wallets and a private key system.