Cryptocurrency

Signs of economic weakness in the United States and China are unsettling investors, exacerbating the worst period for global markets since the Aug. 5 fall. The bearishness has spread to cryptocurrency, with traders waiting for a U.S. jobs report on Friday to see if a deeper slowdown is on the way.Amid a wider retreat from riskier investments on global markets due to fears about the economic outlook, Bitcoin consequently tumbled to a one-month low, with other major cryptocurrencies sustaining losses.At the time of writing, several cryptocurrencies were trading in the red. XRP, Shiba Inu (SHIB) and Cardano (ADA) were nursing losses of 2.79%, 2.64% and 1.79%, respectively.Bitcoin was sustaining larger losses, down 3.86% in the last 24 hours to $56,671 at the time of writing.The aggregate open interest — or outstanding contracts — for CME Bitcoin futures has fallen to its lowest level since May, signaling market concern. Meanwhile, U.S. Bitcoin exchange-traded funds have experienced the longest period of net outflows since June, according to Bloomberg statistics.If history is any guide, the short-term outlook remains challenging. September is traditionally considered a gloomy month for cryptocurrencies. According to historical statistics, Bitcoin has had an average September loss of value of 8% during the last five years, ending in 2023.The Fed’s next meeting is scheduled for later this month, when it will release its latest rate decision. Markets are broadly pricing in a rate drop from the central bank, but traders are divided on how significant the cut will be.This article was originally published on U.Today More

Bitoro is thrilled to announce the upcoming launch of BitoroCore, a groundbreaking on-chain perpetual futures infrastructure, on the Elastic (NYSE:ESTC) Chain, powered by ZKsyncBitoro, a decentralized perpetual futures trading platform, today announced that they will be launching BitoroCore, a ZK Chain built on the Elastic Chain ecosystem. BitoroCore is designed specifically for perpetuals, options, and prediction markets, to enhance the liquidity hub within the Bitoro Network and work seamlessly with existing integrations, such as Orderly Network and Injective. The unified platform is designed to offer a premier on-chain derivatives experience, with markets, liquidity, fees, and features that rival any DEX or CEX. With BitoroCore, users can tap into a cohesive ecosystem of liquidity sources across the widest selection of crypto assets and RWAs, in addition to prediction markets – all accessible via a single, intuitive interface, powered by our community and native token, $BTORO.Moreover, BitoroCore will feature plug-and-play integrations for builders and dApps, enabling them to easily access our native liquidity. As such, it is set to significantly enrich the Bitoro ecosystem, expanding our user base and increasing our footprint within the DeFi landscape.The Elastic Chain ecosystem is a network of fully interoperable ZK Chains all built on ZKsync technology. As a ZK Chain, users of BitoroCore will gain access to all other networks on the Elastic Chain and their respective user base. Furthermore, every application building on the Era Mainnet, the first ZK Chain, and all other ZK Chains will be able to easily integrate and leverage Bitoro’s advanced perpetual futures trading infrastructure and liquidity.Bitoro is incredibly excited about these new developments and are confident they will redefine the DeFi landscape. Users can stay tuned for more updates, detailed timelines, and insights from Bitoro as the company continues to bring BitoroCore to life in the coming weeks and months.About BitoroBitoro is the world’s first leveraged trading protocol and ecosystem aggregator for the on-chain perpetual futures market. With its platform supporting Ethereum, Arbitrum, Optimism, Mantle, Base, Injective, and soon Elastic Chain by ZKsync, Bitoro unifies the fragmented market under one platform, providing optimal speed, fees, liquidity, incentives, and unparalleled ease of use for traders.About ZKsync ZKsync leverages cutting-edge zero-knowledge (ZK) technology to create secure, scalable, and interoperable blockchain solutions. Through its ZK Stack framework, ZKsync enables developers, enterprises, and financial institutions to deploy customizable ZK Chains, forming the Elastic Chain ecosystem. This innovative network offers native, trustless interoperability, enhanced privacy, and unparalleled scalability while maintaining Ethereum’s security. ZKsync’s mission is to bring crypto to the mainstream, empowering millions of developers and billions of users with digital self-ownership and personal freedom. To learn more, users can visit zksync.io.ContactPR & Communications ManagerSimon Mosersimon@bitorolabs.orgThis article was originally published on Chainwire More

He predicts that Bitcoin will only slightly increase during this time, while altcoins will probably see much larger drops. His logic is based on macroeconomic elements like the U.S. government’s spending patterns and the futile tightening policies of the Federal Reserve. According to Hayes, as 10-year Treasury yields approach the risky 5% mark, the bond market will tighten conditions – something the Fed has not done. This change may put a stop to the current bull run on the stock market and raise questions about the balance sheets of smaller banks, which would put more pressure on riskier assets like Bitcoin. It is noteworthy that Hayes continues to hold a bullish long-term outlook. He has not sold all of his assets, and he may even buy more of a few different cryptocurrencies. His outlook for the future is predicated on his conviction that eventually the U.S. Treasury General Account (TGA) will be reduced or quantitative easing (QE) will be reinstated as a means of government intervention on the markets to infuse liquidity. According to Hayes, in the long run, these steps would strengthen the value of Bitcoin. But his short-term prognosis is pretty dire. It is anticipated that Bitcoin will continue its gradual decline, with the $50,000 threshold serving as a crucial level to keep an eye on. Hayes thinks that Bitcoin will only chop its price until intervention starts, which is probably later in September, while altcoins may drop even further. Though one could argue that Bitcoin’s volatility and market dynamics frequently defy such predictions, Hayes offers compelling arguments for his pessimistic short-term outlook. Numerous factors, many of which are subject to sudden change, affect the price of cryptocurrencies. His long-term bullish outlook is therefore still valid, but it is still dangerous to make specific short-term level predictions.This article was originally published on U.Today More

Polkadot has adopted an open governance system called OpenGov, which enables all DOT token holders to propose and vote on changes directly. This on-chain, permissionless approach allows the community to decide on various issues, from technical adjustments to treasury spending. Polkadot’s treasury is currently valued at around €300 million. It’s allocated for various projects, with funds spread across different spending categories. The community can vote on proposals over periods of 7 to 28 days, based on their complexity and importance. The recent “Decentralized Voices” balances voting power by giving more influence to active community members.Cardano, meanwhile, is taking a more phased approach to decentralization. Its governance journey started with Project Catalyst, which lets ADA holders vote on funding proposals. Unlike Polkadot’s wide-reaching model, Catalyst focuses on smaller-scale funding rather than core protocol changes. However, this is set to evolve with the introduction of the Voltaire era, a governance system that allows ADA holders to vote on major decisions or delegate their voting rights.Cardano’s €450M treasury will soon be accessible to the community under its new governance system. Both blockchains highlight community participation, but they do so differently. Polkadot engages its community through open forums and platforms like Polkassembly and SubSquare, where any token holder can contribute to discussions before they reach a vote. Cardano’s governance, currently in transition, relies on more structured layers of decision-making. Proposals undergo a peer-review process and need multiple approvals before they reach a vote. That said, Polkadot’s governance has rapidly matured since the launch of OpenGov in 2022, moving from theory to practice with hundreds of community-led referenda. For its part, Cardano’s governance evolution is less complete but equally ambitious. The upcoming Voltaire phase is expected to introduce a governance framework that could rival Polkadot, with full community control over the blockchain’s future. However, this transition remains a work in progress, with several challenges ahead.The choice between Polkadot and Cardano may come down to what users value more: Polkadot’s fast-moving, community-driven governance model or Cardano’s careful, research-backed approach.  More

The idle TON game BANANA, powered by CARV, has smashed through another milestone, reaching 8 million users within just four weeks of its launch. This achievement makes BANANA one of the most successful TON-based mini games, underscoring the remarkable potential of the TON blockchain for driving high levels of user engagement and growth.Since its launch on July 27th, BANANA has attracted more than 8 million users as of today, with up to 1 million daily active users. The game boasts 1.8 million cumulative linked accounts and an impressive 73 million completed in-game tasks, highlighting its appeal and sustained engagement among players.BANANA’s rapid ascent began with a stunning debut, drawing 1 million users in the first 72 hours and continuing to grow exponentially. Players are captivated by the game’s simple yet rewarding mechanics, collecting Bananas with unique attributes and rarities to earn points (PEELs) and trading them for rewards, including up to 500 USDT, adding a financial incentive to the fun.BANANA leverages the CARV Ecosystem, including CARV Play, CARV Protocol, and the CARV Mobile App, which already boasts over 3 million registered users. This ecosystem, combined with strategic advertising and KOL promotions, has effectively attracted seed users. From there, BANANA drives organic growth through referral mechanisms and UGC/sharing events, with over 90% of its current user base coming from organic growth alone.With such a historical milestone, BANANA is preparing for more:About CARVCARV is building the largest decentralized Identity and Data Layer (IDL) for gaming, AI, and beyond, integrating over 900 games and AI companies, representing more than 30% of all Web3 games, and serving 9.5M+ registered players with 1.3M+ daily active users and 2.8M unique on-chain CARV ID holders. Ranking among the top three globally with 2.1M+ average daily unique active wallets across 40+ chains, CARV has raised $50M in total funding from top-tier investors like Tribe Capital, Temasek Vertex (NASDAQ:VRTX), HashKey Capital, Animoca Brands, and ConsenSys, along with major gaming studios and ecosystems such as MARBLEX (Netmarble) and the Sandbox. The team comprises industry veterans from Coinbase (NASDAQ:COIN), Binance, Google (NASDAQ:GOOGL), and Electronic Arts (NASDAQ:EA), all dedicated to revolutionizing data usage in gaming, AI, and beyond.ContactCOOVictor Yuvito@carv.ioThis article was originally published on Chainwire More

Sentiment was dampened by weaker-than-expected results from the Institute for Supply Management’s monthly measure of US manufacturing activity, which stoked fears of a potential slowdown in the world’s largest economy.The growth concerns drove the steepest selloff in a month on Wall Street on Tuesday as US investors returned from their Labor Day holiday.Meanwhile, the publication of the much-anticipated August nonfarm payrolls report on Friday is expected to play into how Fed Chair Jerome Powell approaches an expected shift away from a focus on taming inflation to preparations aimed at guarding against job losses. Powell said in August that the “time has come” to adjust monetary policy due to potential “downside risks” facing the US jobs picture.Lower rates could bode well for cryptocurrencies, given that they free up more liquidity for speculative trade.According to the CME’s closely-monitored FedWatch Tool, analysts are all but convinced the Fed will roll out a 25-basis point reduction in borrowing costs at the central bank’s upcoming two-day gathering from Sept. 17-18. Interest rates currently stand at a 23-year high of 5.25% to 5.5%.Crypto prices todayBy 05:48 ET (09:48 GMT), Bitcoin, the world’s most widely-known cryptocurrency, had declined by 3.6% over the past 24 hours to $56,730.0, while no.2 digital token Ethereum had also shed 4.2% to $2,399.47.In the wider crypto market, Solana moved 2.9% lower, XRP fell by 2.9%, and Cardano decreased by 2.9%. Dogecoin, meanwhile, dropped by 2.8%.The global crypto market cap dipped below $2 trillion, declining by just under 3.6% over the last day, according to crypto price tracking website CoinMarketCap. More

Since its official start at the end of July 2024, POPG has been focusing its efforts on nurturing a vibrant community of blockchain enthusiasts and people passionate about entertainment. Designed to solve real-world problems and offer a fresh take on how people engage with their favorite entertainment, the POPG Web3 ecosystem has three main projects in the pipeline: a rewarding VIP system called POP.VIP, a responsible iGaming platform named POP.GAME, and POP.LIVE, an exclusive events access portal.Fun, exclusive, innovative, engaging—these four words define the vision of the ecosystem: a new and improved experience for people who want to get involved in building the next level of entertainment. POP.VIP is the first of the projects to be released, allowing its fans—a term POPG uses to describe its users—the chance to save tokens and earn rewards that can later be redeemed for entertainment services and products. It also qualifies them to access the premium events platform (POP.LIVE) at a later stage.By upholding one of POPG’s key messages—built by fans for fans—POP.VIP is scheduled to go live with community involvement at every stage of the project. Fans on X and Telegram were invited to decide the names of the VIP tiers that will be implemented on the platform. After seven days of voting, the group selected its favorite option, which will be adopted once the platform goes live in the near future.This is only the beginning, but it shows a very solid initiative in how the project operates with its community-driven approach. POPG believes the sustainability of the ecosystem relies on the interaction and satisfaction of its community. It ensures that the project is not only built for the fans but also by the fans.POPG expanded its reach from digital to real-life by organizing its first meetup in Dubai. Web3 enthusiasts, professionals and influencers gathered to exchange knowledge and insights to elevate the project to the next level. This is only the first of many meetups that the team plans to hold and attend in the near future. The POPG community will participate in the Blockchain Life 2024 event in October, creating a space for entertainment enthusiasts and fans to come together and build the future of the project.Although at the starting phase, POPG already shows potential as a game-changer in the entertainment space. As fast as its community and social media grow, so does its development. Key initiatives in the pipeline include growing the community, launching POP.VIP, and forging strategic partnerships with other Web3 projects. These efforts will be followed by the release of the other platforms and the continuous expansion of POPG’s communityThe POPG team extends its heartfelt gratitude and sincere appreciation to the entire POPG community. The team is excited to continue building this project alongside its fans, engaging them in every step of the journey. Readers who want to take part and help build POPG are invited to join the community on Telegram and Discord, and can follow the project on social media. About POPGPOPG came into this world as a solution to address the real world problems, to meet the demands of the growing entertainment industry all while harnessing the power of Web3 technology. It is more than just a project—it’s a force for change.POPG official websiteSocial mediaX: https://x.com/popgtokenFacebook (NASDAQ:META): https://www.facebook.com/POPGtoken/Instagram: https://www.instagram.com/POPGtoken/CommunitiesDiscord: https://discord.gg/popgtokenTelegram: https://t.me/POPGtokenReddit: https://www.reddit.com/user/POPGofficial/ContactPR AmbassadorPetra ApostolovicPOPGpetra@popg.comThis article was originally published on Chainwire More

This article was originally published on U.Today More