Cryptocurrency

As confirmed by Whale Alert, 7,999 BTC, equivalent to around $472.8 million, were withdrawn from the exchange’s cold wallet and sent in multiple transactions to an address with the code “13F8P8.”However, this was not the final destination, as this colossal amount of cryptocurrency was then sent to 50 other unknown addresses in exact portions of 157 BTC, or $9.27 million in current prices.What is behind the activity remains unknown, but one thing is for sure: it is remarkable. Who knows, maybe it is one of the Bitcoin ETF issuers like BlackRock (NYSE:BLK), which continues to accumulate cryptocurrency despite all the recent drawdowns and roller coaster price action.As a result, the cryptocurrency itself, as a beta to tech stocks, also fell. Currently, Bitcoin is trading at $59,500, and the question on everyone’s mind is whether it will make a new low. The odds of this happening seem equal, as the lower high is already in, but the previous low was at $49,000 and was a painful one. Will the market ever provide such an opportunity again? Or will the whales, like the recent half a billion dollar buy, not let it happen? These are the questions that need to be answered in the near future.This article was originally published on U.Today More

Investing.com – Samson Mow, the charismatic and tireless permabull and CEO of JAN3, is once again making headlines in the crypto world. With firm convictions and a sharp bullish rhetoric, Mow remains undeterred, even as Bitcoin has faced some severe setbacks in recent months.

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However, his latest price forecast and his call to the crypto community raise critical questions: Is it a brilliant prediction or irresponsible speculation?
After Bitcoin fell to its recent low below $50,000, Mow remained steadfast and tweeted: “Still not selling.” Rather than being intimidated by the bears, he used the opportunity to encourage his followers to add more Bitcoin to their portfolios. The phrase “BTFD” (buy the freaking dip) became the rallying cry of his latest campaign. But how sensible is it to respond to falling prices with blind trust and additional buying pressure?
Mow already made a surprisingly optimistic forecast this summer: He expects Bitcoin to reach at least one million dollars within a year. A few days ago, he reinforced this forecast with another grand target: By the first quarter of next year, he believes, Bitcoin could climb to a staggering $1.5 million. This level of confidence may resonate with enthusiasts, but for many others, it seems highly speculative and risky.
Mow’s long-term expectation that Bitcoin will explode in the foreseeable future raises a fundamental question: How realistic are such predictions, and what consequences could they have for the markets and investors? Critics argue that such optimistic outlooks often foster blind trust and speculative bubbles, which can ultimately lead to significant losses.
While Mow is an unwavering advocate of cryptocurrency, his approach divides opinions. For some, he is a visionary who understands the potential of Bitcoin better than most others. For others, however, his approach is nothing more than irresponsible speculation that particularly misleads inexperienced investors.
At its core, the debate persists: Is Samson Mow’s bullish stance on Bitcoin a sign of technical brilliance and forward-thinking prediction? Or is it a dangerous, if not reckless, bet that has the potential to subject both individual investors and the entire market to unnecessary risk?
Only time will tell whether Mow’s bold predictions are justified or whether his critics are right and his enthusiastic calls ultimately cause more harm than good.
Incidentally, Mow directly admitted that even if the $1.5 million is not reached by the first quarter of 2025, significant gains are to be expected. More

Investing.com – The crypto community is electrified: the prospect of lower interest rates is fueling fantasies of rapid price increases in and other cryptocurrencies. But is this euphoria really justified, or are we in for a nasty surprise?
Arthur Hayes, co-founder of the crypto exchange BitMEX and a perennial Bitcoin bull, warns against premature celebrations.

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In a recently published essay, Hayes argued that the market is going through a kind of “sugar rush,” fueled by the announcement of rate cuts by Jerome Powell, the chairman of the US Federal Reserve.
Following Powell’s confirmation that the long-awaited Fed pivot was imminent, expectations skyrocketed. But Hayes cautions against optimism: the long-term effects could be much more complicated than many currently believe.
According to Hayes, the market reacted euphorically to Powell’s statement, although narrowing the interest rate differential between the dollar, pound, euro, and yen poses significant risks. These different interest rates are crucial not only for the American market but also globally.
A weaker dollar combined with a stronger yen could lead to an “unwinding” of the so-called yen carry trade, potentially causing disastrous impacts on global financial markets.
On one hand, cheaper money makes it easier for investors to borrow and thus speculate on riskier asset classes like stocks and cryptocurrencies. On the other hand, a stronger yen could lead to a disentangling of global investments, which would have severe consequences for all high-risk assets.
Hayes points to the example from early August when the Bank of Japan raised interest rates to 0.25% for the first time in 17 years. The market reacted nervously at that time, and Bitcoin temporarily dipped below $50,000. Hayes is convinced that a similar scenario could occur during the next “yen quake.”
He predicts that in such a crisis, the Fed would likely inflate its balance sheet and dramatically increase the money supply— a short-term solution with long-term consequences, which he describes as “real fodder” for the markets.
In summary, Hayes believes that despite possible short-term recessions, the outlook for cryptocurrencies is extremely positive. “They will crank up the money printer and dramatically increase the money supply,” he speculates. “For assets with limited supply like Bitcoin, that will mean a journey at light speed to the moon!”
Whether this prediction ultimately holds true, only time will tell. But one thing is certain: the announced rate cuts leave no one unaffected and could either plunge the financial world into chaos or propel Bitcoin and other cryptocurrencies to new heights. More

It appears that even as smaller traders sell off their holdings, these seasoned investors still find substantial value in Bitcoin at current prices. Larger investors find $58,900 to be an appealing price because of their approach. Since they have the money and the patience to wait for long-term gains, whales and sharks typically purchase during uncertain market times or when prices are falling. They are probably setting themselves up for future profits by building at this point, believing that Bitcoin will eventually rise again and reach all-time highs. Irrespective of short-term market fluctuations, their accumulation pattern indicates a strong belief in the long-term value of Bitcoin. This idea is further supported by the given Bitcoin price chart. According to the chart, Bitcoin has been moving in a downward channel, with the $58,900 mark serving as a critical support level. Additionally, the 200-day Exponential Moving Average (EMA) coincides with this level. The notion that this price is a good accumulation zone for larger investors is strengthened by the fact that Bitcoin is finding support around there. Furthermore, the chart shows that bullish momentum is not yet fully in play because Bitcoin has had difficulty breaking above the 50-day EMA. But whales’ consistent accumulation indicates that they might be getting ready for an impending breakout. A fresh uptrend on Bitcoin may be possible if it can hold support at $58,900 and eventually break through the 50-day EMA.This article was originally published on U.Today More

On the evening of August 27, MEET48, in collaboration with partners such as Line Next, hosted the official opening party of Japan’s WebX, the Fantasy Bullish Night. The event featured the Top 7 idols from MEET48 GIPR2 voting activity (members of the SNH48 Group) performing on stage with the legendary DJ Steve Aoki, setting the venue ablaze with energy.Hundreds of fans eagerly awaited the appearance of MEET48 idolsAfter the MEET48 GIPR2 Top 7 idols performed, the atmosphere reached an unprecedented level of excitementFollowing the MEET48 GIPR2 Top 7 idols, the legendary DJ Steve Aoki continued to deliver a spectacular performanceAdditionally, as a title sponsor of WebX 2024, MEET48, together with the Top 16 idols from the GIPR2 on-chain voting (SNH48 Group members) and the Top 2 amateur group, held a stunning performance on the main stage of WebX at 1:00 PM on August 28. This event offered a visual and auditory feast combining Web3 technology and entertainment elements, garnering waves of applause and cheers from the audience and drawing attention from industry insiders and the general public alike.At this year’s WebX exhibition, MEET48 showcased its latest product lineup to attendees, including the mini-game CoinFish from the TON ecosystem, the idol model scene generation AI tool SRMBuildor, and a series of upcoming metaverse community-based games. These innovations demonstrated the creative applications of combining Web3 and AI technologies, using music and dance to showcase the potential of Web3 in the entertainment sector, and leading the public into a new digital era experience.On September 4, also in Japan, MEET48 will sponsor the Tokyo tour of the SNH48 Group Top 16, highlighting how MEET48 is expanding its influence through these international events and further advancing its global strategy for virtual idols and Web3. Beyond Japan, during the Token2049 event in Singapore, MEET48 will also co-host the large-scale AI+Web3 application Side Event “Back To The Streets” with Hape on the evening of September 18 (https://lu.ma/4srkahil). MEET48 will also participate as a platinum sponsor at Token2049, further demonstrating its strategic layout on a global scale and its key role within the Web3 ecosystem.It is also noteworthy that BNB Chain’s 4th Anniversary 4YA Ecosystem Celebration has officially announced MEET48 as a partner on its official Twitter and website. The “MEET48 Appreciation Festival” (MEET48 GIPR2 Top 16 Idol Blind Box NFT) was successfully selected as part of the third week’s celebration event, scheduled to take place from September 9 to 15, with generous rewards and surprises to be unveiled. The “MEET48 Appreciation Festival” includes four activities: 1. Accumulate points: completing tasks and watch videos to earn points. 2. Exchange for blind boxes: exchanging for GIPR TOP16 blind boxes (support the idol Top 3 video recording). 3. Create gems: holding idol NFTs will automatically generate gem NFTs. 4. Grab red packets: using gem NFTs to participate in weekly red packet activities. Additionally, the MEET48 WEB3 Appreciation Festival will continue until September 23, and interested users can participate through the MEET48 official website activity page (https://gipr.meet48.xyz/#/activity) or the app.About MEET48MEET48 is considered one of the largest Web3 application project teams globally, with a technical and development team of 500 people and a regional operation network covering Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve large-scale social adoption of Web3 technology through its AI UGC content ecosystem, focused on AIGC (Animation, IDOL, GAME, and Comics) Gen Z entertainment content, and its graphical, intelligent metaverse social foundation.Official Website: https://www.meet48.xyz/Twitter (X): https://x.com/meet_48Telegram: https://t.me/MEET_48Discord: https://discord.gg/meet48ContactMarketing DirectorSiyu YangMEET48siyu@meet48.comThis article was originally published on Chainwire More

This article was originally published on U.Today More

Speaking to Cointelegraph at the Web3 Summit in Berlin, Wood shared his vision of making Web3 accessible to everyone, stating, “My biggest hope is that we can really make [Web3] free for everyone.”Wood’s latest initiative, a tattoo-based Web3 individuality solution called “proof-of-ink,” is part of his efforts to promote a cost-free Web3 ecosystem globally.Wood also revealed that he and Ethereum co-founder Vitalik Buterin initially considered removing the Ether (ETH) token from the Ethereum network. “Vitalik and I were talking about the possibility of basically getting rid of Ether, the currency. Something that now appears to be unthinkable,” Wood said.However, the founders eventually decided to keep Ether as a means to prevent spam and raise funds for further development.Wood argued that developers must work toward separating Ether from the Ethereum network to onboard billions of Web2 users to Web3. “It will be hard to divorce Ethereum from Ether in an effective way that makes it sufficiently responsive to the sort of applications that we will need to produce and deploy on Web3,” he noted.Wood highlighted Polkadot’s JAM chain, which is advancing toward making cryptocurrency transactions nearly free. He pointed out that a more permanent solution for eliminating fees might lie in developing “Web3 individuality,” which could remove the need for transaction fees and anti-spam mechanisms.Polkadot creator said in a recent interview with Bullish CEO Tom Farley that he believes there is a lack of desire to create projects with long-term value—those that will remain relevant and useful a decade from now. Instead, he sees many focusing on short-term gains, building quickly to sell, often to buyers who simply pass it along, driven more by hype than by substance. Wood admits this is just his theory, not backed by hard economic data, but he believes this mindset is polluting the market and leading to large investments in Layer 1 blockchains that may not have any meaningful future.Interestingly, Wood argued that Ethereum, and possibly even Bitcoin, may not be exceptions to the rules governing which blockchains will survive. However, he believes that Bitcoin, as the first cryptocurrency and primarily a store of value, could be an outlier because of its unique position in the market. More

DTX Exchange (DTX) has taken center stage in the crypto market after announcing the much-awaited testnet launch. The decentralized trading platform has also surpassed $1.8 million raised in its ongoing presale weeks ahead of expected. This development is expected to accelerate the development of a unified trading ecosystem. The background infrastructure of DTX Exchange (DTX) is backed by a proprietary Layer-1 blockchain that ensures seamless governance. Additionally, the platform has also introduced the VulcanX protocol to minimize trading fee and offer a multi-channel trading avenue for traders around the globe. The recent upgrade includes a Layer-1 blockchain that has already entered its testnet stage. In the final deployment, the blockchain is expected to outperform established leaders and prove to be an innovative challenger to leading altcoins. DTX has also strategically integrated data feeds from other fintech platforms to provide a streamlined solution for investors. To learn more about the DTX platform: Website: https://dtxexchange.com/ Presale: https://presale.dtxexchange.com/ Telegram: The DTX Community ContactDTX Exchangedtxinnovations@gmail.comThis article was originally published on Chainwire More