Cryptocurrency

It emphasizes cautious optimism amid ongoing market movements. Woo anticipates that Bitcoin’s current bullish swing will continue in the near future, probably for an additional week. Bitcoin is displaying a bull flag on the chart, a typical technical pattern that denotes a sustained upward movement following a brief period of consolidation.This is a promising signal for traders seeking quick profits over the coming days. Woo notes that when taking derivatives into account, exchange inventory stays flat, and there is a notable accumulation of spot Bitcoin in the medium term. This implies that although there has not been much movement in derivatives trading, there is consistent buying going on in the spot market, especially by investors and long-term holders. The accumulation of Bitcoin may portend an impending bull market move, particularly if the demand continues. But Woo is still being cautious. The market is not under pressure to sell off right now, but it has not completely transitioned to a bullish structure either. The demand and supply dynamics at this point are neutral to bearish. Woo points out that a possible short squeeze might swiftly alter the situation and cause liquidations, which would raise the price of Bitcoin. Should that occur, there is a chance that the market will firmly enter a bullish phase. As usual, Woo’s analysis provides traders and investors with insightful information.This article was originally published on U.Today More

VIKITA, a memecoin operating on the SunPump platform, has been listed on the Poloniex exchange, available for trading against USDT (Tether). Built on the TRON blockchain, VIKITA benefits from fast, low-cost transactions, providing users with an efficient trading experience.SunPump, the platform hosting VIKITA, specializes in supporting memecoins, allowing users to create, buy, and sell tokens without the need for initial liquidity. This structure aims to simplify access to token creation and trading for users within the ecosystem.With a limited supply of 1 million tokens, VIKITA has seen notable trading activity since its listing. The liquidity of the token has surpassed $300,000, while the daily trading volume has exceeded 1 million TRX. The token has also reached a market capitalization of over $7 million as of the date of this release, placing it among the top 10 tokens by market capitalization on the SunPump platform.VIKITA’s distribution has been managed exclusively through SunPump, ensuring transparency in the process. The platform’s structure seeks to eliminate potential risks of manipulation.SunPump is a growing platform within the TRON ecosystem, known for its role in facilitating USDT trading. The platform’s focus on memecoins has attracted significant interest in VIKITA, contributing to its early market performance.About VIKITAVIKITA is a memecoin built on the TRON network and operates on the SunPump platform, which is designed to support the creation, buying, and selling of memecoins without requiring initial liquidity. With a limited supply of 1 million tokens, VIKITA offers fast, low-cost transactions, benefiting from TRON’s blockchain infrastructure. Since its launch, VIKITA has gained significant attention in the market, becoming one of the top tokens by market capitalization on the SunPump platform.ContactJessica ConerVIKITAteam@vikita.xyzThis article was originally published on Chainwire More

According to Scaramucci, a combination of expected Federal Reserve rate cuts and a clearer regulatory framework in the U.S. might serve as key catalysts for a significant Bitcoin price surge.Scaramucci believes that the Fed might likely reduce borrowing costs by a half point on Wednesday, as part of at least 150 basis points of reduction over the following 18 months.This move is “going to be really good for asset prices in the US and globally,” Scaramucci stated, adding that Bitcoin may reach $100,000 by the end of the year.Bitcoin hit an all-time high of $73,798 in mid-March, boosted by demand for U.S. exchange-traded funds. The surge then slowed as inflows into ETFs declined.Investors are looking for signals about what Fed interest rate policy will look like for the rest of the year and whether further cuts are on the way.Fed Chairman Jerome Powell is scheduled to hold a post-meeting press conference, which may reveal new insights into the central bank’s thinking.The largest cryptocurrency by market capitalization rose to a high of $61,373 in Tuesday’s trading session, its highest price in three weeks at $61,330, before losing some of its gains. It just traded slightly below $60,000, but still up 1.18% in the last 24 hours.According to crypto analyst Ali Martinez, Bitcoin may experience a minor pullback after the TD Sequential indicator has produced a sell signal on the BTC one-hour chart.Meanwhile, on the upside, on-chain resistance levels are relatively evenly spread; according to IntoTheblock, a key level to observe is $64,000, where 1.57 million addresses are now holding at a loss.This article was originally published on U.Today More

The collaboration sets a new standard in decentralized finance (DeFi) by shifting blockchain transaction risk away from end users for the first time.OpenCover, a leading platform for blockchain insurance and insurance alternatives backed by Coinbase (NASDAQ:COIN) Venture’s Base Ecosystem Fund, NFX, Jump, Alliance, Village Global and Orange DAO is announcing a strategic partnership with Request Finance and Nexus Mutual. This collaboration marks a historic milestone in decentralized finance (DeFi), offering unparalleled protection for blockchain users across multiple blockchain ecosystems including Ethereum, Arbitrum, Polygon, BNB, Optimism and Avalanche.For the first time, eligible transactions on Request Finance are covered up to $100,000. This protects end-users from the main technical, economic, and security risks inherent to blockchain transactions, making onchain finance safer and matching transaction guarantees on traditional financial infrastructure.Traditionally, the “your keys, your coins” mantra placed the full burden of blockchain risk — such as oracle price feed errors, smart contract bugs and stablecoins losing their peg — directly on the end-user.OpenCover’s new Transaction Cover, underwritten by Nexus Mutual, transfers the risk of failure or unforeseen blockchain transaction outcomes away from the end-user. Users now benefit from the same transaction guarantees typically seen in traditional finance but with the advantages of faster settlement times, full transparency, and significantly lower fees attained by using blockchain rails.About OpenCover (https://opencover.com)Founded by Y Combinator alumni Jeremiah Smith and Yury Oparin, OpenCover works with top-tier underwriters to provide individuals and institutions protection against onchain risks, including transaction and protocol risk.About Request Finance (https://request.finance)Request Finance is a comprehensive invoicing, payment, and accounting platform for Web2 and Web3 businesses. By simplifying payments in both crypto and fiat currencies, Request Finance is helping businesses embrace decentralized finance while ensuring transparency and efficiency. Request has processed over $800 million in transactions since 2020.About Nexus Mutual (https://nexusmutual.io/)Nexus Mutual is the leading crypto insurance alternative for protocol and other blockchain risks. The mutual has underwritten close to $5 billion in risk since being established in 2019.ContactCo-founder and CEOJeremiah SmithOpenCovermedia@opencover.comThis article was originally published on Chainwire More

MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has announced it will launch its highly anticipated Mainnet in October 2024. This milestone event marks a significant step in bringing traditional finance onchain and provides a new home for MANTRA’s native token, $OM.MANTRA Chain will provide a comprehensive and customizable suite of tools allowing developers to tailor solutions based on their specific needs. This suite not only simplifies the process of bringing real-world assets onchain, but also ensures the solutions remain compliant with regulatory requirements. As part of MANTRA’s vision to become the preferred ledger of record for real-world assets, the MANTRA Chain Mainnet will include key features such as:For more information about MANTRA, the mainnet launch and the company’s ambitions for the RWA ecosystem, visit mantrachain.io.###About MANTRA:MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Website | Twitter | LinkedIn | Discord ContactMarketing LeadChristoph Lidmanpress@mantrachain.ioThis article was originally published on Chainwire More

Cypher Capital, a multi-strategy crypto investment firm, today announced its role in a $15 million seed funding round for Hemi Labs, a modular blockchain network unifying Bitcoin and Ethereum. Hemi Labs will use the funds to develop and launch the Hemi Network, utilizing funds from Cypher Capital to advance blockchain technology and enhance interoperability by developing a unified supernetwork.The round comes after Hemi’s recent incentivized testnet launch, and a mainnet launch targeted for Q4 2024. Participation from numerous investors includes Binance, Breyer Capital, Big Brain Holdings, Crypto.com, HyperChain Capital, Alchemy, SALT Fund, Kelly Capital, Sunflower Capital, DNA Fund, Web3 Ventures, Quantstamp, TRGC, UTXO, Artichoke Capital, SNZ Holding, Capital6, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu (Bitdeer), and George Burke (Portal), among others.“Hemi Labs is at the forefront of blockchain interoperability,” said Vineet Budki, CEO of Cypher Capital. “Their approach to integrating Bitcoin and Ethereum into a cohesive supernetwork addresses key scalability and security challenges, and our investment aligns with their mission to transform blockchain infrastructure and unlock new possibilities for decentralized applications.”Unlike traditional efforts to integrate Bitcoin and Ethereum within their own ecosystems, Hemi Labs is developing a unified supernetwork. Hemi Network will include the Hemi Virtual Machine (hVM), integrating a full Bitcoin node within an Ethereum Virtual Machine (EVM), allowing developers to create cross-chain smart contracts with familiar tools while ensuring compatibility with existing EVM dApps and wallets. The Hemi Bitcoin Kit (hBK) facilitates direct smart contract access to granular Bitcoin state for advanced Bitcoin-native applications such as staking and lending markets.The network also boasts Superfinality through Hemi’s Proof-of-Proof (PoP) consensus mechanism, ensuring Bitcoin-level security in a decentralized, permissionless manner and provides Bitcoin-security-as-a-Service to other blockchain networks. Hemi’s Tunnels will offer trustless cross-chain portability, improving upon traditional bridge methods. Additionally, Hemi will feature on-chain routing, time-lock, password protection, and gasless transfers for seamless asset movement without relying on native chain currencies.Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3. Website | Blog | LinkedIn | Telegram | Instagram | Facebook (NASDAQ:META) | Youtube | X About HemiThe Hemi Network (“Hemi”) is a modular blockchain powered by Bitcoin and Ethereum that provides superior scaling, security, and interoperability. Hemi views Bitcoin and Ethereum as components of a broader supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs is a leading developer of Web3 infrastructure and tooling, founded by renowned Bitcoin developer Jeff Garzik, and blockchain security pioneer Max Sanchez. Learn more at https://hemi.xyz/. ContactMedia ManagerShameem Shashameem@cyphercapital.comThis article was originally published on Chainwire More

MatrixPort, a leading digital asset financial services platform and exSat, a breakthrough Bitcoin scalability solution, have entered into a comprehensive strategic partnership. By leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem, marking the start of a new era in Bitcoin development.MatrixPort, a global one-stop digital asset financial services platform, brings extensive industry experience, robust technology, and a large user base to offer secure, convenient, and efficient digital asset trading and wealth management services. exSat Network focuses on developing unique scalability solutions for Bitcoin. Through the unique On-Chain UTXO data index, 1 second instant transaction confirmation, and secure asset custody solutions, it provides the Bitcoin network with more powerful scalability, functionality and interoperability, enabling new Bitcoin application scenarios.This powerful collaboration plays to the advantages of both parties and brings multiple benefits to the Bitcoin ecosystem. MatrixPort’s expertise and user base will support the rapid development of exSat, while exSat’s innovative technology will offer MatrixPort users more investment options and a superior experience. Together, they are committed to driving Bitcoin adoption and utility, revitalizing the Bitcoin ecosystem, and creating more value for users worldwide.This strategic partnership will focus on the following key areas:Unlocking Bitcoin Liquidity: Ushering in a New Era of BTCFiMatrixport will provide nBTC on the exSat platform, a new Wrapped BTC version of the product that is 1:1 anchored with Bitcoin. They plan to provide 5,000-10,000 nBTC on the exSat mainnet to boost liquidity and support exSat’s PoW+PoS consensus mechanism.The issuance of nBTC will become a bridge connecting Bitcoin and the exSat ecosystem, achieving seamless interoperability. Users can convert native BTC to nBTC via MatrixPort and utilize it on exSat for various BTCFi applications such as staking, lending, and trading.The issuance of nBTC holds significant implications in a context where 94% of Bitcoin has already been mined:Key areas of focus include:Building a Secure Bitcoin Ecosystem to Protect User AssetsMatrixPort and exSat recognize that security is the cornerstone of Bitcoin ecosystem development. They will collaborate strategically to build an unbreakable on-chain security defence, safeguarding user assets.The partnership will integrate MatrixPort’s extensive security experience and exSat’s leading blockchain technology to enhance security in multiple areas:ContactCMOTristan DickinsonexSattristan.dickinson@exsat.orgThis article was originally published on Chainwire More

Bitcoin rose 0.6% to $59,964.0 by 09:13 ET (13:13 GMT), after flitting in a trading range of $50,000 to $60,000 for most of September.Broader cryptocurrency prices also rose as markets positioned for lower U.S. interest rates, which are expected to benefit risk-driven, speculative assets.Data this week showed BlackRock’s iShares Bitcoin Trust saw its first day of inflows in two weeks on Monday, breaking a sustained run of outflows seen since mid-August.The inflows marked some turnaround in sentiment after uncertainty over the U.S. presidential election, interest rates and a potential recession weighed heavily on crypto prices across the board.But trading volumes in U.S. Bitcoin ETFs still remained well below highs seen earlier this year, as enthusiasm over the ETFs petered out, especially amid retail traders.Software firm MicroStrategy Incorporated (NASDAQ:MSTR) bought about $1.1 billion worth of Bitcoin between August 6 and September 12, the company disclosed last week, furthering its spot as the biggest corporate holder of the token. The company holds about $9.5 billion worth of Bitcoin.The company said this week it will raise about $700 million through a private issuance of convertible bonds due 2028, which will be deployed towards redeeming earlier debt obligations and buying more Bitcoin.Broader cryptocurrency prices drifted higher in anticipation of a widely expected interest rate cut by the Federal Reserve later on Wednesday.World no.2 crypto Ether fell 0.4% to $2,319.94, while altcoins XRP, Solana, (AS:MATIC) and Cardano moved in a flat-to-low range.Among meme tokens, Dogecoin added 0.25%.The Fed is widely expected to cut interest rates at the conclusion of a meeting later on Wednesday. While markets were initially split between bets for a 25 or 50 basis point cut, CME Fedwatch showed traders growing more biased towards a bigger cut in recent sessions.Lower rates free up liquidity that can then be deployed into risk-driven, speculative assets such as crypto.In other developments, Australia’s central bank plans to shift its focus from developing a consumer-facing retail Central Bank Digital Currency (CBDC) to a wholesale CBDC, Financial System Assistant Governor Brad Jones revealed at a fintech conference in Melbourne.Unlike a retail CBDC, which the general public could use for everyday transactions such as buying groceries, a wholesale CBDC is intended for transactions between banks and financial institutions, including cross-border payments. Jones emphasized that the bank sees “the benefits to the economy as more promising, and the challenges less problematic, for a wholesale CBDC compared to a retail version.”“This recognizes that unlike a retail CBDC that would be issued for use among the public, a wholesale CBDC would represent more an evolution than revolution in our monetary arrangements,” he added.In addition, the Reserve Bank of Australia has committed to a three-year research initiative called Project Acacia, which will explore the future of digital money in the country. This will include a project focusing on wholesale central bank digital assets and tokenized commercial bank deposits, with the aim of understanding how concepts like “programmability” and “atomic settlement” in tokenized markets could benefit the Australian economy.Ambar Warrick contributed to this report.  More