Cryptocurrency

The data shows that cryptocurrency traders are likely to see “Uptober” arrive again. However, September, which started with a massive Bitcoin price fall, may continue to remain bearish, keeping the world’s largest cryptocurrency, Bitcoin, and the whole crypto market in the red.The figures shared by @lookonchain demonstrate that from 2013 until 2023, Bitcoin declined in September (falling by over 18% maximum in one of those years) and soared in October (jumping as high as 40% and 53%).Thus, in October last year, Bitcoin went up by 27.92%, rising from $26,970 to $34,499. In 2021, BTC soared from $43,859 to $61,837, showing a massive increase of 40.99%. That year, Bitcoin spiked to an all-time high of close to $69,000, with a Bitcoin halving taking place in March 2020.This “Uptober” expectation seems to be in line with today’s bullish statement by Bitcoin maximalist and CEO of JAN3 Samson Mow. He pointed out that while many traders believe that BTC is now likely to trade sideways “forever,” that is certainly not true. Mow believes that it is in such times that Bitcoin begins to “go up a lot.”He acquired 322.37 BTC, evaluated at approximately $19 million, earlier today. Over the last five days, the same whale bought 2,322 BTC worth $136 million in total. He now holds a whopping $523 million in Bitcoin equivalent, which is 8,881 BTC.In the meantime, another smart crypto trader withdrew a large Bitcoin chunk from Binance – 1,100 BTC worth $64.2 million with a profit of $62 million, according to X analytics account @spotonchain.This article was originally published on U.Today More

First, the flow of the market indicates a tendency wherein it is more common to view the current price action as a chance to take profits or to sell long positions than it is to initiate new ones. The actions of traders who are closing long positions and spot traders who are taking profits at these points make this clear. The market might not be prepared for an explosive move higher just yet, as such flow patterns usually take time to develop into a more structurally bullish trend. Furthermore, an understanding of the current market position requires an understanding of the liquidity dynamics around $60,000 and $61,000. It appears that sellers are hesitant to drive the price higher in the absence of strong buyer support because the ask liquidity at $60,000 was pulled just prior to a taker-driven pump. Further more, there is a substantial supply beginning at $61,000, which establishes a contextual barrier that the market may find difficult to overcome in the absence of stronger purchasing interest. The positioning on the futures market is another important consideration. The perpetual futures data indicates that poorly positioned shorts may have been squeezed out even though the trend is still spot-driven, which is generally positive for the market. But aggressive long positions, which usually signal strong confidence in a sustained upward move, are not being established. It appears that there is buying but not enough to drive the price much higher at this time, based on the decline in open interest (OI) and the rising CVDs and delta. Finally, it is concerning that there have not been any limit bids since the $57,000 lows. A high-time-frame (HTF) rally would require additional support in the form of rising limit bids to give the price a more solid foundation upon which to rise.This article was originally published on U.Today More

Their total Bitcoin holdings at the moment amount to 8,881 BTC. This is the equivalent of $523,000,000. @lookonchain shared the wallet address of this whale: 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN.Meanwhile, according to the @spotonchain crypto tracker, a cryptocurrency whale purchased 1,100 BTC on the Binance trading platform. They withdrew this BTC worth $64.2 million with a $62 million profit on the investment.@spotonchain pointed out that this is a skilled Bitcoin trader, as they have been buying BTC when it fell to lows and then selling it once the world’s leading digital currency surged to hit price highs.Between November 2023 and January 2024, the prepump period for Bitcoin, this whale accumulated 2,947 BTC (the largest part of their holdings now) at a price of $44,300 per coin on average.They then made strategic sales, dumping a total of 315 BTC when Bitcoin reached local highs of roughly $60,300 each in March and then in August of this year. As of now, this skilled BTC trader holds 3,823 BTC worth $227 million. Their estimated profit, according to SpotonChain, amounts to $61.8 million (that is a 34% increase).On that day, Bitcoin crashed from the $64,400 area to the $59,800 zone. Mow warned those who expected BTC to be “trading sideways forever” that this was not the case here.The JAN3 chief executive pointed out that from his observations, this is exactly the time when Bitcoin starts to “go up a lot.” While BTC was trading in the $59,000 range, Mow tweeted that he did not sell a single Satoshi from his Bitcoin stash.This article was originally published on U.Today More

Forgd, a token advisory and optimization platform, announced the launch of its free-to-use web platform, which provides blockchain projects unrestricted access to tools for tokenomics design, liquidity monitoring, cap table management, and financial planning. Forgd eliminates financial barriers associated with traditional Web3 Advisory and consolidates an otherwise fragmented services industry built to support blockchain projects as they issue a token.A token launch involves complex challenges, prompting many blockchain projects to hire multiple external advisors for tasks like tokenomics modeling, market maker engagement, and exchange listing. These engagements can be costly and often lead to operational inefficiencies, given that few advisors operate an end-to-end process. Forgd addresses these challenges with free software tools for executing all vital go-to-market activities and optimizing token performance post-launch. This “self-service” approach to Web3 advisory allows teams to execute at their own pace.For blockchain projects that haven’t yet launched their token, Forgd helps them design tokenomics, conduct cash flow analysis & prepare for fundraising, secure partnerships with market makers & exchanges, and navigate administrative tasks such as offshore company formation. For projects with a live token, Forgd provides tools for monitoring market maker performance & token unlocks, automated token streaming, and even non-custodial liquidity provision.In a strategic move, Forgd has aligned with the Solana Foundation to provide select tools exclusively for projects built on the Solana blockchain. This collaboration underscores the Forgd commitment to supporting scalable blockchain ecosystems and fostering project growth.Operating as a public good, Forgd is reinventing Web3 advisory by providing blockchain projects free access to specialized capital markets tools such as tokenomics modeling, liquidity monitoring, cap table management, exchange listing, and financial planning. In addition to its self-service software tools, Forgd offers tailored consulting services for teams seeking extra guidance. This approach allows Forgd to service a broad spectrum of blockchain projects ranging from DIY enthusiasts to those who prefer white-glove support, ensuring accessibility and expert assistance are readily available.www.x.com/forgd_ContactMarketingDan MulliganForgddan@forgd.comThis article was originally published on Chainwire More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce the launch of the Bybit Card in Brazil. This marks a milestone in the company’s global mission to empower crypto users. Now, Brazilian users can integrate crypto payments into their daily lives at millions of merchants worldwide.Pre-Registration and Referral BonusesTo kick off the launch, Bybit is offering users in Brazil a chance to earn substantial rewards through a referral program during the pre-registration period. Starting September 2, users can generate a referral link on the event page and invite friends to sign up for Bybit and pre-register for the Bybit Card. The top 10 users with the most qualified referees will be eligible to win up to R$5,000 in card bonuses.The Bybit Card pre-registration event starts on Sept. 2, 2024, at noon UTC. Bybit users in Brazil can now pre-register and enjoy the benefits of crypto spending and the opportunity to win up to R$5,000 in card bonuses.Key Features of the Bybit Card#Bybit / #TheCryptoArkAbout 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, users can visit Bybit Press. For media inquiries, users can contact: media@bybit.comFor more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

DMEX.APP, the pioneering decentralized perpetual contracts margin trading platform, is proud to announce that it has become the first decentralized exchange (DEX) to offer both cross margin and isolated margin positions, cementing its status as a leader in the decentralized finance (DeFi) space.Having been in operation for over five years (source PRNewsWire), DMEX.APP has established itself as a seasoned and reliable exchange in the rapidly evolving world of DeFi. Traders on DMEX.APP can take advantage of leverage up to 500x, allowing for greater flexibility and potential profitability in their trading strategies.DMEX.APP supports a wide range of collateral options, including BTC, ETH, USDT, USDC, DAI, BNB, MATIC, AVAX, TON, and more, catering to the diverse needs of its global user base. With more than 20 tradable pairs available, traders can enjoy deep liquidity and instant trade execution, ensuring a seamless trading experience.In addition to its cutting-edge trading features, DMEX.APP offers several advantages that set it apart from traditional and even other decentralized exchanges:For more information and to start trading, users can visit DMEX.APP.DMEX is the source of this content. This Press Release is for informational purposes only. The information does not constitute trading or investing advise.ContactDmex Teamcontact@dmex.appThis article was originally published on Chainwire More

DSCVR, the revolutionary web3 social media platform, is thrilled to announce a significant milestone: 1 million monthly unique visitors. This achievement comes on the heels of the release of DSCVR Canvas, a game-changing framework that enables any web app to be seamlessly integrated into DSCVR’s social feeds for viral distribution. The rapid growth of DSCVR underscores the platform’s innovative approach to social networking in the web3 space. Canvas is designed to empower developers by offering a powerful tool that brings their apps directly to DSCVR’s engaged audience. From trading digital assets to playing iconic games like Doom, Canvas is opening up new dimensions of interaction and entertainment for users.To celebrate this milestone and further fuel the creative energy within the developer community, DSCVR has launched the Canvas Buildathon. This exciting buildathon invites developers to showcase their skills and contribute a diverse range of experiences to the DSCVR ecosystem. Whether it’s creating new gaming experiences, financial tools, or social applications, the buildathon is the perfect stage for experimentation and innovation. The buildathon is proudly sponsored by industry leaders including Metaplex, Matrica, Tweed, and Spiderswap. These partnerships underscore the significance of the event and the quality of the submissions expected. The competition will be judged by an esteemed panel of experts, including Jon Wong, Pedro Miranda, and Austin Federa from the Solana Foundation, allowing developers to gain exposure to heavy hitters in the web3 space. About DSCVRWith over 1 million monthly unique visitors, DSCVR (pronounced “Discover”) is a web3 social network combining the usability of a Web2-style social app with crypto technology that unlocks ownership, monetization and distribution for users, creators, and projects. Through its native token functionality, DSCVR rewards users and supercharges community-building, while its API allows developers and partners to build applications that target through the social graph, distribute through the feed, and monetize in posts. DSCVR’s seed investors include Polychain Capital, Upfront Ventures, BDMI, Shima Capital, Tomahawk VC, and Fyrfly Venture Partners. Users can follow on X.ContactPress ContactCher ParkDSCVRpress@dscvr.oneThis article was originally published on Chainwire More

The heatmap, which displays a dense cluster of orders around the $60,000 mark, tracks leverage and liquidation levels. Clusters like these suggest that there is a lot of trading activity in this range of prices, as many traders are setting up their positions in anticipation of breakout or breakdown possibilities. These liquidity clusters frequently cause increased volatility because traders rush to reposition themselves, which may spark a flurry of activity that could drive prices sharply in either direction. Because of the condition of the market right now, the price of Bitcoin has been bouncing around in a defined range, testing upper and lower limits without developing a distinct trend.The market may be in a state of equilibrium, with an equal number of bulls and bears based on this continuous ranging behavior. But the accumulation of liquidity at about $60,000 suggests that this equilibrium might be upset soon, prompting bold action. By drawing in new money and possibly paving the way for a larger rally, a break above $60,000 in Bitcoin’s price could herald the beginning of a new bullish phase.If this level is not broken, however, traders who were betting on a breakout may be forced to liquidate their positions, which would put more downward pressure on the price and cause another pullback. With many digital assets exhibiting similar range-bound trading patterns, the overall state of the cryptocurrency market is still unknown.This article was originally published on U.Today More