Cryptocurrency

This article was originally published on U.Today More

As always, this post was aimed at promoting Bitcoin, and in particular depicted Saylor in the form of a fast-food restaurant worker with BTC logos. “We are all on Team Bitcoin,” Saylor says, looking out of the picture with artificially intelligent eyes.Such Bitcoin-themed promotional posters by Saylor have long been part of the crypto community’s culture and a meme of sorts. As you can see, the entrepreneur himself is not going to stop, finding new themes and inspirations for posts every time.What you cannot take away from Saylor is that his similar posts are backed by actual actions, as MicroStrategy is already one of the largest holders of Bitcoin, with 226,500 BTC worth $12.78 billion.This is definitely not the end of the tech company’s purchases, and with September coming up, we can expect another MicroStrategy purchase announcement in the very near future.Thus, the price of BTC fell to $56,400 amid active selling caused by disappointing macro expectations and the fall of the stock market. Whether a post from Michael Saylor will help change the minds of sellers to sell Bitcoin and pull them back to the orange team remains to be seen.This article was originally published on U.Today More

Flowing from this, Neuner predicted that another meltdown might just be on the horizon. Hence, it seemed appropriate to gauge investors’ preparedness and enlighten the community as to what to expect. “Are you prepared for a crypto meltdown?” Neuner asked.Recently, some notable entities that suffered losses on the stock market include Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA), MicroStrategy, Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), among others. Nvidia, a world leader in artificial intelligence computing, suffered a loss of 9.22%, while Tesla with its base in electric cars and clean energy recorded a loss of 1.56%.Some entities listed on the U.S. stock market with crypto ties were not exempt from this meltdown. For instance, MicroStrategy, the business intelligence firm led by Michael Saylor, registered a 3.95% loss from the U.S. stock market meltdown.Bitcoin, the world’s largest crypto asset, has registered a 4.57% drop in market capitalization to $1.12 trillion. As of the time of writing, BTC changed hands for $56,573.29, representing a 4.53% decrease in the past 24 hours.It is the same outlook for Cardano (ADA) and XRP, whose market capitalization dropped by 4.04% and 3.77% to $11,415,589,469 and $ 30,921,812,619, respectively.The market performance over the past seven days reveals that ADA has been on a downward slide since Aug. 29. As for XRP, it has maintained a seven-day run of bearish sentiment and price decline, per CoinMarketCap data.This article was originally published on U.Today More

The leader of the cryptocurrency market, Bitcoin, shows a 4.6% plunge in the past 24 hours (with a 1% recovery eliminated today). The S&P 500 index has fallen by 6.88 (0.12%) today.Cramer’s tweet about the AI-related sell-off took place in light of the U.S. Department of Justice beginning to subpoena microchip-producing behemoth Nvidia (NASDAQ:NVDA) as part of the escalating anti-trust probe.Nvidia’s position in the rapidly growing AI space has become dominant recently, with many AI development companies, including Elon Musk’s xAI, purchasing H100 chips to train their AI models.The DoJ is subpoenaing not only Nvidia but also several other chip-producing companies since they are suspected of violating antitrust laws, according to Bloomberg. The U.S. government is now getting close to issuing a formal complaint against Nvidia.In line with this, as September has only just started, the current sell-off seems to be following the “traditional” bearish scenario. As for Octobers, Bitcoin rose by 40% and 50% at the highest in the last 10 years.However, Bitcoin maximalist Samson Mow doubts that this concept of bearish Septembers is accurate about BTC. In today’s tweet, he shared several key reasons why he expects the world’s flagship cryptocurrency to surge despite all the bearish September predictions and expectations.Mow believes that “underfunded pension funds” are likely to allocate their hundreds of billions of dollars to Bitcoin. MicroStrategy, he expects, will certainly continue to issue convertible senior notes to offer more debt to investors in order to raise money to buy more Bitcoin.This article was originally published on U.Today More

He starts from the previous bear market low in November 2022 and measures Bitcoin cycles differently than most traders. The crucial point, in his opinion, is that this cycle’s peak, which started prior to the anticipated halving in March 2024, has not yet been reached.Surprisingly, after accounting for inflation, the peak from the last bull cycle remains stable. From Brandt’s analysis, three key conclusions can be drawn. First, there is a discernible pattern of lower highs and lower lows for Bitcoin. This downward trend implies that the energy required to push Bitcoin to new heights has been absent. The second point is that the lows have a continuously decreasing slope. This pattern suggests a continuous lack of buying pressure, or momentum, which may be problematic for investors hoping for an imminent recovery or all-time highs. In closing, Brandt points out that this cycle is different from the others in that it has never taken Bitcoin this long to reach a new all-time high following a halving.Brandt’s perspective is consistent with more widespread market concerns. His finding that Bitcoin’s cycle is taking longer to recover could be an indication of more serious structural problems, or it could just be a reflection of the macroeconomic climate. A number of variables are influencing the price of Bitcoin, including interest rate inflation and worldwide financial instability.At the absolute least, a protracted period of consolidation may be indicated by the continuous sequence of lower highs and lower lows. Although some people may still be bullish about Bitcoin’s long-term prospects, Brandt’s analysis serves as a sobering reminder that there may not be many more highs to come.This article was originally published on U.Today More

UEEx, a cryptocurrency exchange, has seen rapid growth in a challenging market environment, marking progress in expanding its global user base and enhancing engagement across multiple platforms. The company’s strategic initiatives have contributed to its rising profile among global cryptocurrency exchanges.Unprecedented User Growth and EngagementSince its launch, UEEx has reported over 1 million global registrations and 2 million subscribers to its Telegram mini-app, UECoin Miner. The exchange has also recorded a 125.35% month-over-month increase in trading volume, reflecting growing user activity. Currently, UEEx serves users in more than 110 countries, underscoring its expanding global footprint.Launch and Performance of UECoin ($UE)A critical factor in UEEx’s success is the strategic launch of its platform token, UECoin (UE). Launched on July 18, 2024, UECoin was initially offered at a presale price of 0.0001 USDT, with 1.5 billion UE tokens allocated for this phase, representing 15% of the total 10 billion token supply. The remaining tokens were allocated with 75% designated for mining rewards and 10% for ecosystem development.After its official listing at the end of July 2024, UECoin experienced an price surge, rising from its presale price to a peak of 0.00722 USDT. By August 27, 2024, UECoin’s price had soared past 0.4 USDT, marking an astonishing 4344.44% increase in a short time.The performance of $UE has been a significant contributor to the overall success and rapid growth of the UEEx platform.Innovative UECoin Miner Driving User EngagementAt the heart of UEEx’s strategy is the innovative UECoin Miner Telegram mini-app, which has transformed user interaction with cryptocurrencies. The app allows users the opportunity to earn UECoin or USDT every minute through active engagement. The more users interact with the app, the more they have the chance to earn.The UECoin Miner has effectively leveraged Telegram’s extensive user base, driving substantial traffic to both UECoin and the UEEx platform. This seamless integration has not only accelerated user growth but also increased demand for UECoin, contributing significantly to its explosive price growth.Future OutlookUEEx’s rapid ascent in the crypto exchange market is a testament to its strategic vision, particularly in launching the UECoin token and integrating it with the UECoin Miner mini-app on Telegram. The platform’s impressive growth metrics, including a tenfold increase in the value of its platform token and significant global user base expansion.As UEEx continues to innovate and broaden its offerings, it aims to position itself as a leader in a market that often challenges even the most established players. With a user-centric approach and the smart adoption of new technologies, UEEx is well-poised for sustained success and continued growth in the future.Website: https://ueex.com and X: https://x.com/ueex_official.ContactMarketing managerRubyofficial@ueex.comThis article was originally published on Chainwire More

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