Cryptocurrency

This week, on Sept. 18, the FOMC is to hold a scheduled meeting in which a decision about bringing down the interest rates is expected to be made.According to data from CME FEDWATCH, the probability bet on a 50 basis point rate cut now comprises 63%, while the chances of a 25 basis point cut equal 37%.The expectation of a rate cut announced by the Federal Reserve several times earlier this year have been one of the key drivers for the Bitcoin price surges this year. Last week on Friday, the price of the world’s flagship cryptocurrency, Bitcoin, jumped by almost 5%, allowing BTC to reclaim the $60,000 price level.Over the past 24 hours, Bitcoin witnessed a decline of 3.22%, falling from $60,000 to the $58,560 zone, where it is changing hands at the time of writing this article.Many analysts predict that the approaching Fed interest rate cut is likely to allow the Bitcoin rally to continue and advance to higher levels this year – if other bullish scenarios play out.This article was originally published on U.Today More

With Ethereum still facing difficulties, Bitcoin has gained roughly $16.7 billion over Ethereum, indicating growing institutional interest in the former. The divergence in ETF flows points to a worrying pattern for Ethereum. It appears that institutions are losing interest in ETH, as many have sold their holdings covertly in recent months.Ethereum’s market performance has been directly impacted by this ongoing dumping, as seen by a discernible decline in transaction volume. Although Ethereum’s blockchain has historically seen a lot of activity, its adoption and usefulness may be under pressure due to waning institutional confidence. Ethereum’s switch to proof of stake (PoS) may be one factor contributing to this decline in interest. Although PoS was expected to improve scalability and efficiency, some institutional players do not seem to be convinced of its long-term advantages. Another factor contributing to investor reluctance may be the ecosystem’s complexity, which includes layer-2 solutions and frequent updates.Conversely, more conservative and risk-averse institutional players may be drawn to Bitcoin due to its established status. Ethereum’s 189,000 ETH outflow illustrates the fact that in spite of the technological advancements that ETH provides, institutions still prefer Bitcoin as their asset of choice.Ethereum needs to address these issues if it wants to rebuild market strength and institutional confidence, as indicated by the widening gap in net ETF flows. Ethereum may find it difficult to hold onto its position on the larger cryptocurrency market if the dumping of ETH persists and institutions continue to lean more toward BTC.This article was originally published on U.Today More

The funding round included investments from Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Labs, Antler, Coinswitch Ventures, Wagmi Ventures, and Kairos Capital. The latest financing was also bankrolled by angel investors such as Charles and Verity from Espresso Systems and Ryan Lee, CEO of Orderly Network. This follows an earlier $6.1 million seed round backed by Coinbase (NASDAQ:COIN) Ventures, Sequoia Capital, and others.Decentralized exchanges (DEXs) gained popularity during the crypto winter after several major centralized platforms (CEXs), like Sam Bankman-Fried’s FTX, collapsed. DEXs are self-executing, using automated algorithms to handle the trading of digital assets between users without needing human intervention. Perpetual swaps are financial products unique to the crypto world, similar to futures contracts but without a set expiration date.LogX Founder Akshit Bordia said: “These latest milestones are a testament to the unwavering trust from our financial backers, partners, and, most importantly, our loyal users,” said Akshit Bordia, Founder of LogX. “With the capital we’ve raised, our mission is to scale our product line and introduce leveraged prediction markets across 50+ blockchains.”Separately, LogX said that it reached a milestone by exceeding $20 billion in trading volume and onboarding over 1 million users in just ten months.Launched in July 2023, the platform plans to expand its offerings by launching on the TON blockchain later this year, targeting over 100 million users with its prediction market trading.LogX has formed partnerships with perpetual protocols like GMX, Pyth Network, Gains Network, and Orderly Network, as well as several blockchain networks, including Arbitrum, Mantle, Linea, Kroma, Fuse, Telos, and Optimism.Derivatives exchanges are a key part of the on-chain environment for speculating on token prices, with platforms like dYdX and Vertex grabbing most of the spotlight and holding hundreds of millions in crypto deposits.  More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the official start of the World Series of Trading (WSOT) 2024. As the world’s largest and longest-running crypto trading competition, WSOT 2024 brings together traders from across the globe to compete for a massive prize pool of up to 10,000,000 USDT, along with luxury rewards such as Rolex watches, world travel tickets, and yacht cruises.For the first time, participants can trade across both centralized (CEX) and decentralized (DEX) platforms, marking a new era in competitive trading. This integration allows traders to experience the full spectrum of crypto markets, from the depth of Bybit’s centralized exchange to the cutting-edge innovation of its decentralized counterpart, DEX Pro.1 Million Decentralized TokensWSOT 2024 also integrates Bybit Web3’s DEX Pro, enabling access to over 1 million decentralized tokens, including DeFi projects, GameFi assets, and memecoins. With over 100 ecosystem partners such as Yescoin, Bonk, Catizen, Navi Protocol, Blackcardcoin, Character X involved, the competition serves as a platform for traders to engage with the cutting edge of decentralized finance.Massive Prize Pool (NASDAQ:POOL) and Exclusive RewardsThe prize pool starts at an impressive 10,000,000 USDT and grows with participation. In addition to the cash rewards, traders can win exclusive luxury prizes, including yacht cruises, Rolex watches, and international travel packages. The more participants, the bigger the rewards.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press. For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

Three former Revolut executives have launched Neverless, an app offering commission-free crypto trading alongside an automated passive investment account, which aims to revolutionise returns for its users.Neverless’ team raised $6.7 million in one of the largest pre-seed funding rounds in European history. Since then, the company has registered in multiple European countries as a VASP (Virtual Asset Service Provider).”We’re going after all the platforms that exploit their users with fees.” Rita Riera, Director of Neverless SpainNeverless allows users to buy and sell cryptocurrencies with zero deposit fees and zero trading fees. The app is easy to use and lets users deposit funds in Euros, a feature recently discontinued by several major platforms. Additionally through the app, some cryptocurrencies generate daily interest automatically.‘Strategies’: An Automated Investment AccountNeverless offers a market-neutral investment account called Strategies, which allows users to invest automatically and with stability. Although past performance doesn’t guarantee future results, Strategies has a strong track record, with an average 12.81% annualised return in the past 90 days and a 11.89% average return over the last 12 months. In the volatile world of cryptocurrencies, Strategies aims to provide consistent returns without relying on market fluctuations.”Other platforms have similar products, but none offer the potential return or flexibility in terms of deposits and withdrawal as our ‘Strategies’ account.” says Riera.Neverless offers the same potential returns to all users, with no minimum deposit or lock-in periods. There is no need for a ‘premium’ account to access these returns, a feature that sets it apart from competitors who often charge higher fees for premium tiers with better returns.The Technology Behind ‘Strategies’Neverless uses market-neutral automated strategies. While this technology has been employed by large private investment funds, Neverless has made it accessible to the public, with no minimum investment. Instead of predicting future prices, an algorithm scans the market in real time to exploit inefficiencies, such as minor price variations between exchanges. The Neverless algorithm buys cryptocurrencies on the cheaper exchange and sells them on the more expensive one, profiting from the difference. This process is executed millions of times per second, generating stable returns without exposure to market direction.Putting Neverless to the TestTo verify whether Neverless truly charges zero fees, simply conduct the same transaction on another exchange at the same time.In one test, a user purchased $10,000 worth of Bitcoin on another platform while doing the same on Neverless. The result: the other platform ended up giving 1.49% less Bitcoin.From Revolut to NeverlessAfter helping build Revolut into a major fintech player, the founders of Neverless identified key issues in both the traditional financial system and the crypto space. Lack of transparency and high fees are common problems they sought to eliminate.”Neverless was born out of personal frustration. There wasn’t an app that was transparent, user-friendly, and didn’t feel like a scam with hidden fees. Since it didn’t exist, it just had to be made.” explains Riera.A significant portion of Neverless’ development team also hail from Revolut and is responsible for building the Strategies algorithm, a product exclusively owned by Neverless.Growth and Future PlansIn just a few months, Neverless has gained thousands of users and surpassed $100 Million in transaction volume. With its registration as a VASP and its focus in key markets like Spain, France, and Ireland, the company has already established a strong foothold in Europe.Now, Neverless is setting its sights on further expansion, aiming to tackle the rest of Europe and Latin America next.Its rapid growth and ambitious plans highlight a clear determination to not only reshape the crypto landscape but also secure a leading position across global markets.About Neverless Neverless is the world’s only crypto platform that allows to buy & sell crypto completely fee-free and gives access to automated hedge fund investment tools that aim to provide high, stable returns. Founded by former Revolut executives, it raised a record $6.7m pre-seed round and already holds Virtual Asset Service Provider (VASP) registrations in multiple EU countries.ContactDirector of Neverless SpainRita Riera PastalleNeverlessrita@neverless.comThis article was originally published on Chainwire More

SwapSpace, a leading cryptocurrency exchange aggregator, is thrilled to unveil its new Crypto Loans feature in collaboration with CoinRabbit, a service designed to help crypto enthusiasts manage their portfolios. With SwapSpace Crypto Loans feature, users can access stablecoins without selling their digital assets, providing flexibility for those who wish to maintain long-term positions in cryptocurrencies while addressing other financial needs.Key Features of the SwapSpace Crypto Loans:SwapSpace is a crypto exchange aggregator with 28 partners and over 3350 coins available for seamless and fast swaps at the best market rates without sign-up requirements. Users can securely swap, buy, and sell assets for fiat and spend crypto on popular marketplaces. The platform aggregates offers from the most trustworthy crypto exchanges, providing the best options with 24/7 support.For more information, users can visit SwapSpace’s Twitter and Linkedin.ContactPR ManagerGeorge LayneSwapSpace.copr@swapspace.coThis article was originally published on Chainwire More

Onboard is excited to announce a significant expansion and rebrand, coupled with a successful capital raise from Coinbase (NASDAQ:COIN) Ventures and LAVA. This expansion marks the evolution of Onboard from a digital money app and a global P2P exchange, to a comprehensive platform and ecosystem designed to empower onchain builders and creators globally.The world is facing unprecedented challenges, with over 3.5 billion people living below the poverty line, 75-90% currency devaluation, and rampant double to triple-digit inflation across various regions. Onboard believes that rather than battling outdated systems, the way we change this, is by focusing on the transformative possibilities of the onchain economy.Onboard empowers independent builders and creators to help bring the world onchain. Onboard’s vision is to enable anyone, anywhere to come onchain and live a radically better life. Their gateway enables people to come onchain with as little as $1 in under 2 minutes. However, the true value lies in the applications and experiences that make this economy accessible, engaging, and transformative.The capital raised from Coinbase Ventures and LAVA will be pivotal in accelerating Onboard’s growth and expanding its offerings to meet the needs of the global onchain community. This funding will support the development of new financial tools, resources, and community initiatives aimed at empowering onchain creators and builders.Website: onboard.xyzX: @OnboardGlobalFarcaster: @OnboardContactMarketing LeadLiza JOnboardliza@nestcoin.comThis article was originally published on Chainwire More

That is because the Federal Reserve keeps printing money, which helps the wealthy but hurts the poor and middle class, the best-selling author argues. Kiyosaki’s message is simple: fiat money is losing value, and those who rely on it are putting their financial futures at risk. The author believes that investing in scarce assets like gold and Bitcoin (BTC) is the best way to protect your financial future in an economic environment where the value of the U.S. dollar is falling. This supports his idea that those who do not act now risk becoming what he calls “late-life losers,” stuck with depreciating assets and shrinking wealth.A more realistic prediction regarding the first cryptocurrency was also previously made by the author, who predicted that its price would reach $100,000 per BTC by the end of 2024. With the Federal Reserve expected to cut interest rates on Wednesday and reintroduce quantitative easing measures in the coming days, Kiyosaki’s message is more important than ever.This article was originally published on U.Today More