Aurelia Butler

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  • 150 Shares169 Views

    in Cryptocurrency

    Massive 2,924 Bitcoin (BTC) out of Major US Exchange: Bulls Gearing Up?

    The total amount of coins withdrawn was 2,924 BTC, which is about $182.56 million, and that is for just three transactions today. This was followed by the transfer of $60 million in the popular USDT stablecoin from Kraken to Bitfinex, another major crypto exchange that is considered a haven for market old-timers.The similar ping-ponging of stablecoins and Bitcoin has been seen before between these two large centralized marketplaces. This time, however, it is not known where the Bitcoin from Kraken went. All three addresses to which the transfer was made are different. The only clue is that one of the transfers appears to have been made by the exchange itself to its own wallet. This may indicate that the other two withdrawals were also made as part of some internal Kraken operation.On the other hand, there may be more to this activity, in which case it is of greater interest and deserves more attention. Regardless of the outcome, the consequences of these moves will surface first on the BTC price chart.This article was originally published on U.Today More

  • 138 Shares199 Views

    in Cryptocurrency

    Memereum Secures Top Spot on CoinSniper with 32M Presale Tokens Sold

    Memereum has recently claimed the top position on CoinSniper, thanks to over 3,100 votes from its growing community. This achievement signaled strong market confidence in the project to the team and highlighted the enthusiasm surrounding Memereum’s innovative features. As the presale continues, Memereum has sold over 32 million tokens, making it one of the most successful crypto presales in recent times.Community-Driven Success on CoinSniperCoinSniper is a platform where upcoming crypto projects are ranked based on community votes. By securing the top spot with over 3,100 votes, Memereum has demonstrated an active and dedicated community. This grassroots support is crucial for driving a project forward and has played a significant role in the continued growth of Memereum’s presale.The strong showing on CoinSniper may suggest broader interest in Memereum’s features, including its combination of blockchain insurance and staking opportunities. The ongoing presale has also seen growing interest, which has contributed to Memereum’s visibility as a project to watch in the lead-up to 2024.Presale Milestone: 32 Million Tokens SoldMemereum’s presale has crossed the 32 million tokens sold milestone, and according to the team, it’s reflecting an increased demand from investors looking for projects with long-term utility and growth potential. Memereum’s appeal lies in its features, such as automatic staking benefits for early investors and blockchain insurance that provides an extra layer of security on MemeSwap, its decentralized exchange.Additionally, Memereum is already pre-listed on four major CEX platforms, positioning itself as an option for those seeking to participate in a project that combines safety, transparency, and real-world use cases.Plans for 2024As Memereum’s presale progresses and community engagement remains strong, the project is preparing for continued growth in 2024. The team is continuously developing new features and expanding its marketing efforts, with plans to roll out even more innovative tools on MemeSwap.About Memereum (MEME)The strong interest in Memereum (MEME) can be attributed to its innovative approach in the blockchain sector and its growing community support. Memereum is the first blockchain insurance with an integrated DEX for supported token trading. Users can learn more about Memereum by clicking here.For more details on how to join the presale, users can visit memereum.netContactBessie [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    XRP Architect Speaks out on BTC Creator Satoshi Nakamoto

    A new HBO documentary about Bitcoin’s origins argues that Satoshi Nakamoto, the pseudonymous creator of BTC, is most likely Canadian software developer Peter Todd.Called “Money Electric: The Bitcoin Mystery,” the 100-minute video released on Tuesday comprises interviews with several people who have been engaged with Bitcoin since the beginning, including long-time Satoshi contender Adam Back, investor Roger Ver, Samson Mow and Peter Todd.Reacting to the HBO documentary, an X user asked Schwartz directly: “Didn’t you know and work with all of these guys, David? No mention of you in this documentary.” The user referred to the people closely involved in Bitcoin’s creation. Schwartz responded, “Not really, I didn’t get involved until mid-2011.”When rumors of him being Satoshi began to surface in 2020, Schwartz stated that it was plausible to believe he was one of the individuals involved in the invention of Bitcoin, but he was not.The Ripple CTO claims he may have been a member of “Satoshi” — a group that created Bitcoin — and also that he first learned about the world’s first cryptocurrency later, in 2011.Since the inception of Bitcoin in January 2009, there has been significant discussion over who Satoshi Nakamoto is, whether a person or a group. Over the years, several publications have speculated that Satoshi Nakamoto could be anyone and everyone.Even if Satoshi Nakamoto has not been heard of since 2011, he or they are still important. Satoshi Nakamoto’s wallets contain approximately one million Bitcoin, which is worth over $62.4 billion at current pricing.Cullen Hoback, the HBO documentary’s author, guessed that Peter Todd is Satoshi Nakamoto based on circumstantial evidence, such as postings from an early Bitcoin forum; Todd has personally denied this. This article was originally published on U.Today More

  • 188 Shares159 Views

    in Cryptocurrency

    Banana Capital Plans to Increase Funds to $100 Million for Its Updated AI-Driven DeFi Strategy

    The investment fund Banana Capital PTE. LTD., specializing in effective asset management through proprietary Web3 strategies, is proud to announce plans to increase its funding to $100 million for an updated AI-driven DeFi strategy.By leveraging varying hedging techniques, the company has been able to maximize capital efficiency and address the risk of impermanent loss in decentralized exchange (DEX) liquidity pools, achieving an average annual return of 61.13% in retrospective analysis from 2021 to 2023.Banana Capital at a GlanceBanana Capital is an investment fund that aims to help investors manage capital, reduce risk, and work to achieve consistent high returns through proprietary Web3 strategies.With experience dating back to 2017, the fund offers solutions to assist in preserving and growing capital. The firm emphasizes risk management and diversification in its solutions to try and generate steady capital growth, even amid the volatility of the cryptocurrency market.Understanding Decentralized Finance (DeFi)DeFi, a fast-growing sector in Web3, offers blockchain-based alternatives to traditional financial products. By utilizing blockchain technology, these products are more secure, faster, and more cost-effective compared to their Web2 counterparts, opening up new earning opportunities.A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates without a central authority or intermediary. It allows users to trade cryptocurrencies directly with each other on a peer-to-peer basis, using smart contracts to ensure secure and transparent transactions.Flagship Liquidity Providing Strategy in DeFi ProtocolsThe strategy involves Banana Capital providing assets on decentralized exchanges (DEX) through liquidity pools. When users on these platforms trade cryptocurrency assets, they pay transaction fees. These fees are distributed to the fund as rewards for providing liquidity. In other words, the fund facilitates asset swaps for traders and earns a portion of the fees from their transactions.Banana Capital’s primary strategy involves providing liquidity to DEXs. As traders exchange assets on these platforms, transaction fees are distributed to liquidity providers. This approach aims to enhance capital efficiency and mitigate risks in volatile markets through hedging techniques, with a focus on protecting underlying assets and ensuring stable returns.Historical Performance ChartSource: https://bananacapital.fund/Plans for Enhancing Strategic MechanismsBanana Capital continues to improve its strategies and algorithms, by aiming to optimize position management and in developing proprietary software. The fund is actively working on an IT solution that enables the efficient management of capital and liquidity pools with any portfolio assets.One of the challenges of providing liquidity to DEX pools is the lack of a unified, user-friendly aggregator where metrics like APR, TVL, and trading volume can be easily assessed to choose the best configurations for a given strategy. Additionally, timely repositioning is a crucial factor for optimizing pool management, especially at larger volumes.Thanks to a strong team of mathematicians, Banana Capital has developed a technical solution that effectively addresses these issues by managing liquidity pools through automated tools.Comment from Dinar Faskhutdinov, CEO of Banana CapitalFor more information on Banana Capital, readers can please visit bananacapital.fund.Press contact: Anastasia, PR Director: [email protected] can connect with us on social media:X: https://x.com/Banana_FundLinkedIn: https://www.linkedin.com/company/banana-fundTelegram: https://t.me/bananacap_annContactPR [email protected] article was originally published on Chainwire More

  • 138 Shares169 Views

    in Cryptocurrency

    Bybit Reports Milestones as bbSOL Concludes First Month on Solana Blockchain

    Bybit, the world’s second-largest crypto exchange by trading volume, is proud to announce the successful completion of bbSOL’s first month, marking a milestone in its mission to advance token staking on the Solana blockchain. As the first exchange-backed liquid staking token (LST) on Solana, bbSOL has gained momentum, attracting attention for its marketing strategies and integration across both centralized and decentralized platforms.Since its launch, bbSOL has positioned itself as a noticeable figure in the Solana ecosystem due to its position at the intersection of centralized finance (CeFi) and decentralized finance (DeFi). Key Milestones of bbSOL’s First Month:Total Value Locked (TVL) Surpasses 85 million: bbSOL has outpaced other exchange-backed staking tokens in TVL, underscoring its appeal to users and highlighting its growing influence within the Solana ecosystem. This surge in TVL reflects the token’s robust adoption and Bybit’s commitment to delivering staking opportunities for its users.Expanded Accessibility: bbSOL will be listed on Bybit Spot on 10 Oct 2024, 10AM UTC broadening user access to both trading opportunities and liquidity rewards across multiple ecosystems. By bridging the gap between Bybit’s centralized exchange and the broader DeFi landscape, bbSOL offers a streamlined experience for token holders.Strategic Partnerships: In addition to its availability on Bybit Spot, bbSOL has partnered with Jupiter Exchange, Solana’s leading swap aggregator, enhancing liquidity options and making bbSOL more versatile for users looking to trade efficiently within the Solana ecosystem.This article was originally published on Chainwire More

  • 138 Shares139 Views

    in Economy

    Fed’s Logan calls for ‘gradual’ rate cuts, says ‘should not rush’

    “Following last month’s half-percentage-point cut in the fed funds rate, a more gradual path back to a normal policy stance will likely be appropriate from here to best balance the risks to our dual-mandate goals,” Logan said in her first public remarks since the Fed reduced its policy rate to the 4.75%-5.00% range three weeks ago. The central bank, she said, “should not rush to reduce the fed funds target to a ‘normal’ or ‘neutral’ level but rather should proceed gradually while monitoring the behavior of financial conditions, consumption, wages and prices.”In prepared remarks to an energy conference hosted by the Greater Houston Partnership, Logan ran through a litany of reasons to go slow, even as she also noted that inflation progress has been broad-based and the labor market has cooled.”I continue to see a meaningful risk that inflation could get stuck above our 2% goal,” she said, noting the potential for stronger-than-expected consumer spending or economic growth; “unwarranted” further easing in financial conditions; and the possibility that the level of borrowing costs that neither presses down or up on economic growth – the “neutral rate” – is higher than it was before the pandemic. Other upside inflation risks include the reemergence of supply chain issues amid geopolitical risks and the East Coast dockworkers strike, she said, noting that workers and port operators plan to revisit their contract in January. Logan did nod to risks that the labor market, while still healthy, could “cool beyond what is needed to sustainably return inflation to 2% or that the employment situation may even deteriorate abruptly.” And Logan also said she “supported” the decision, though omitting any modifier like “strongly” or “whole heartedly” that other Fed policymakers have used to characterize their degree of enthusiasm for the half-point move.”Less-restrictive policy will help avoid cooling the labor market by more than is necessary to bring inflation back to target in a sustainable and timely way,” Logan said. Her comments made clear she remains worried that inflation pressures could reemerge. “Downside risks to the labor market have increased, balanced against diminished but still real upside risks to inflation,” she said. “Any number of shocks could influence what that path to normal will look like, how fast policy should move and where rates should settle.” The policy path, she added, should not follow a preset course; the Fed, she said, “will need to remain nimble and willing to adjust if appropriate.” The Fed will release minutes of its Sept. 17-18 meeting later on Wednesday, and investors expect to learn more about how divided policymakers may have been about delivering a bigger-than-expected rate cut, and their outlook for the rate path ahead. More

  • 100 Shares109 Views

    in Economy

    India denounces ‘stifling’ EU carbon tax on imports

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More

  • 138 Shares119 Views

    in Economy

    German economy expected to contract again in 2024, economy minister says

    BERLIN (Reuters) – Germany’s economy is expected to contract by 0.2% in 2024, the economy ministry said on Wednesday, becoming the only member of the Group of Seven (G7) major industrial democracies to post shrinking output this year, as was also the case in 2023.The government is cutting its forecast from a previous projection of 0.3% growth for this year, as the expected recovery in the second half of the year failed to materialise.Germany’s economy was already the weakest among its large euro zone peers and other G7 countries last year, with a 0.3% decline in gross domestic product.If economic output contracts for a second consecutive year, which last happened in 2002-2003 when exporting and manufacturing industries struggled, Germany would be the only G7 economy in contraction, according to the latest projections of the International Monetary Fund. Germany’s economy contracted in the second quarter, sparking fears of a possible recession, which is defined as two consecutive quarters of contraction. Early indicators such as industrial production and business climate suggest that the economic downturn has continued into the second half of the year, the ministry said. The economy has not grown strongly since 2018 due to its structural problems and geopolitical challenges, German Economy Minister Robert Habeck said in his presentation of the forecasts. To counter the cyclical and structural challenges, the German government has agreed a growth package of 49 measures to stimulate the economy.”If they are implemented, the economy will be stronger and more people will come back to work,” Habeck said.The plans must be approved by both houses of parliament later this year. That means the coalition government need votes from opposition conservatives in the upper house Bundesrat, which represents Germany’s 16 federal states.BACK TO GROWTH IN 2025By the turn of the year, the growth dynamics should gradually revive again, the ministry said, expecting 1.1% growth for 2025, up from 1.0% previously. Growth is expected to resume in 2025 due mainly to increased private consumption resulting from higher wage settlements, falling inflation and tax relief, the ministry said. Lower interest rates should also stimulate consumption, it said. For the first time, the government has included a forecast for 2026, when Germany’s economy is seen expanding by 1.6%.Inflation is expected to decline further, slowing to 2.2% in 2024 from 5.9% last year, then to 2.0% in 2025 and 1.9% in 2026. More