Cryptocurrency

Known as “AI Meme Coins,” Needham analysts view this “as one of the most unique narratives to develop in crypto in the last several years.”“Without human decision-making input, an AI bot has scoured crypto markets and started promoting certain coins as attractive buys on social media,” they noted.“We view this as the first major connection between crypto and AI, and we believe this could have broad implications for exchanges such as Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), custody providers, token issuers, and regulators.”A key project in this movement is an AI bot named Truth Terminal, which was trained on meme-centric platforms like 4chan, Reddit Inc (NYSE:RDDT), and X (formerly Twitter). It has been actively promoting specific meme cryptocurrencies, resulting in the bot’s holdings soaring to more than $3 million.According to Needham, this is “likely the first ever case of an AI becoming a multi-millionaire.”These AI bots operate with minimal human intervention, scouring the markets and identifying opportunities based on their unique training. The semi-autonomous Truth Terminal, for example, has been engaging with users on X and even contemplating launching its own cryptocurrency.“The rise of AI buying crypto assets has resulted in a number of follow-on human investors copy trading the AI leading to a surge in activity in certain meme coins,” analysts said.Looking ahead, Needham analysts believe that, given the internet-native nature of crypto and the absence of regulated gatekeepers, AI bots could increasingly engage in trading and creating crypto projects for profit.In the near term, this development is expected to boost trading volumes, positively impacting digital asset platforms like Coinbase and Robinhood.Longer-term, analysts anticipate that AI bots will play a larger role in the crypto space and potentially in broader financial markets. However, this raises important regulatory questions, such as how investing rules will apply to AI-driven activities. More

Crypto trading volumes were also mostly subdued amid increased risk aversion, while overnight losses in stock markets also provided middling cues to crypto markets. Most altcoins also tracked muted moves in Bitcoin, while Solana rallied past its peers on increased activity on the blockchain.Bitcoin rose 1.6% to $67,488.0 by 08:54 ET (12:54 GMT). The token tread water for the past two sessions after failing to break past $70,000 earlier this week.Bitcoin had initially rallied on increased speculation that Donald Trump will win a second term in 2024. Recent polls and prediction markets also showed Trump with a slight edge over Democratic nominee Kamala Harris.Trump has promised to roll out friendlier crypto regulations if elected, having maintained a largely pro-crypto stance in recent campaigning. But Trump’s broader macroeconomic policies are expected to be largely inflationary- a trend that heralds relatively high interest rates and a stronger dollar. This notion pushed the dollar to a near three-month high in recent sessions, while largely pressuring risk-driven markets.Expectations of a slower pace of interest rate cuts by the Federal Reserve also pressured speculative assets such as crypto, given that higher rates limit the amount of liquidity that can be deployed into risk assets. Traders were seen widely positioning for a smaller, 25 basis point cut by the Fed in November, CME Fedwatch showed.U.S. purchasing managers index data due later on Thursday is expected to provide more cues on the U.S. economy. Solana was an outperformer in crypto markets this week, rising about 5% to a near three-month high of $174.7 on Thursday amid increased trading volumes.Coindesk attributed the price gains largely to increased activity on the Solana blockchain, especially in meme tokens related to artificial intelligence. User numbers were also seen increasing to record highs above 8 million, while speculative positions on Solana increased sharply this week. Solana was trading up 8.4% this week, compared to a 1.5% drop in Bitcoin.Broader altcoins moved in a flat-to-low range. World no.2 crypto Ether was an outlier, sliding 1.9% to $2,526.59MATIC and XRP moved in a flat-to-low range, while ADA lost around 3%. Among meme tokens, DOGE rose 1.6%. Ripple CEO Brad Garlinghouse remains optimistic that the US SEC will eventually greenlight an exchange-traded fund (ETF) for XRP, the cryptocurrency developed by Ripple’s founders, despite the company’s long-standing conflict with the regulator.Earlier this month, fund manager Bitwise submitted an application for an XRP ETF, which would allow investors to gain exposure to the digital asset through a stock exchange, without the need to directly hold the cryptocurrency.The filing came as a surprise, given Ripple’s ongoing legal dispute with the SEC that began in 2020. However, Garlinghouse remains unfazed.”To me, it’s just inevitable [that an XRP ETF will be approved],” he said in a Bloomberg interview on Wednesday, highlighting the growing “demand from institutions and retail” for access to this crypto asset.In addition to Bitwise, Canary Capital has also applied this month to launch an ETF tied to XRP.Garlinghouse pointed out that while the SEC may have been reluctant initially, it eventually approved ETFs for Bitcoin and Ethereum—products that have been brought to market by major Wall Street players.Ambar Warrick contributed to this report.  More

Blocksquare today announced that its native token, BST, is now officially listed on Bitpanda, Europe’s leading and most regulated cryptocurrency platform. This listing marks a significant milestone for Blocksquare, providing expanded access to the BST token and bringing Blocksquare’s vision for democratized real estate investment to a wide audience, specifically within Europe, currently Blocksquare’s strongest market with 71 properties tokenized across the continent.The BST token powers Blocksquare’s blockchain-based real estate tokenization platform, which allows users to invest in fractionalized property assets. By enabling real estate to be divided into smaller, affordable tokens, Blocksquare aims to make property ownership more accessible for everyone, from first-time homebuyers to experienced investors. The listing on Bitpanda will now allow users to buy, trade, and hold BST on one of Europe’s most secure and trusted crypto-platforms.About BlocksquareBlocksquare offers SaaS solutions for blockchain-based real estate tokenization. Headquartered in Ljubljana, Slovenia, Blocksquare’s platform aims to power a global network of marketplaces, connecting investors to real estate opportunities in their region. Through its real estate tokenization protocol, anyone can digitize real estate assets at a fraction of the cost, while providing the quickest way to launch an online marketplace. Blocksquare’s Oceanpoint adds a DeFi layer to its established tokenization infrastructure to create borderless access to real estate financing, for anyone with an internet connection. Website | X | Telegram | Blog | Facebook (NASDAQ:META) | Reddit | LinkedIn | Token overview | About BitpandaBitpanda was founded in Vienna in 2014 and is the leading European crypto platform. With a selection of over 2,800 digital assets, including more than 450 crypto assets and numerous stocks*, ETFs*, precious metals and commodities, the Austrian fintech unicorn offers one of the most comprehensive ranges of digital assets available in Europe. Already trusted by over 5 million users, and dozens of institutional partners, Bitpanda holds licenses in several countries, and has a proven track record of working with local regulators to keep assets safe and secure. This makes Bitpanda one of the safest and most strictly regulated trading platforms in the industry. In addition to its headquarters in Vienna, Bitpanda has offices in Amsterdam, Barcelona, Berlin and Bucharest.ContactCMOJulia BuchholzBlocksquaremarketing@blocksquare.ioThis article was originally published on Chainwire More

BingX, a global leading cryptocurrency exchange, has fully restored its operational capacity following a recent hot wallet incident, with all deposits and withdrawals back to normal. In response to the event, BingX is unveiling its new “ShieldX” initiative, a comprehensive plan aimed at enhancing the platform’s security infrastructure.”ShieldX” introduces an upgraded wallet firewall designed to provide advanced protection against external threats, further safeguarding user assets. BingX has also partnered with leading third-party security firms to implement extra round-the-clock monitoring and threat detection, ensuring any vulnerabilities are identified and addressed swiftly and proactively.In addition to enhanced firewalls and partnerships, BingX will undergo regular, rigorous security audits conducted by independent security agencies. The exchange is also rolling out a new hacker bounty program, offering rewards to security researchers who help identify potential vulnerabilities, reinforcing its dedication to continuous improvement.Utilizing its new cybersecurity initiative, BingX is reaffirming its position as a leader in the cryptocurrency space by putting user safety at the forefront. This initiative not only enhances security but also emphasizes the exchange’s long-term commitment to transparency, resilience, and innovation in the face of evolving cybersecurity challenges.Vivien Lin, Chief Product Officer at BingX, emphasized the importance of the platform’s swift recovery and ongoing commitment to user security. “We are pleased to confirm our platform has not only returned to standard operations but the platform has also been thoroughly enhanced to a higher performance level than before the incident. BingX’s quick response highlights our dedication to safeguarding user assets, with trust, efficiency, and transparency at the heart of our approach. The launch of ‘ShieldX’ marks a crucial step in proactively strengthening our platform’s defenses,” Lin said. “Our priority remains ensuring a secure environment for all users through continuous improvements and strategic partnerships. Furthermore, we are committed to collaborating with industry leaders to drive higher security standards across the crypto ecosystem.”About BingXFounded in 2018, BingX is a leading cryptocurrency exchange serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC’s principal partner, marking an exciting debut in the world of sports.For media inquiries, users can contact: media@bingx.comFor more information users can visit: https://bingx.com/ContactBingX Mediamedia@bingx.comThis article was originally published on Chainwire More

On October 22-23, HTX made a prominent presence at Blockchain Life 2024’s Platinum Exhibition Area, while serving as an exclusive sponsor of the Business Networking Area. This initiative not only highlights HTX’s brand and strength but also deepens its cooperation with the Middle East’s crypto community, providing a fresh impetus to the innovative applications of blockchain technology and cryptocurrencies worldwide.Importantly, Justin Sun, founder of TRON and Global Advisor to HTX, earned the “Crypto Entrepreneur of the Year” award at Blockchain Life 2024, reflecting the summit’s recognition of his exceptional achievements and innovative prowess in the blockchain field.During the summit, Edward Chen, Managing Partner of HTX Ventures, and Charmaine Lim, Head of VIP Client Services at HTX, were invited to participate in panel discussions, where they shared HTX’s latest insights and industry expertise.Charmaine spoke at the roundtable discussion titled “Crypto Exchanges and Private Investors: Shaping Investment Strategies and Adapting to Market Trends.” She emphasized that many investors overlook crucial aspects such as liquidity and market depth due to a lack of security awareness, often resulting in asset losses. Exchanges like HTX can help investors minimize the risk of errors by providing user education, intuitive interfaces, robust security measures, professional customer service, and regulatory compliance. Furthermore, she pointed out that investors can mitigate risks through portfolio diversification, particularly by allocating funds to a broad range of cryptocurrencies and DeFi platforms.In addition, Charmaine also noted that HTX will ensure all investors can execute trades effectively, even in highly volatile markets, by expanding the depth of the order book, utilizing price stabilization mechanisms such as algorithmic trading and risk management tools, and enhancing risk education for individual investors.During a roundtable discussion titled “The Unicorn Journey: Insights from Top Venture Capitalists”, Edward shared his perspectives on the crypto market landscape and development trends for 2024. He is optimistic about four key areas that are currently noteworthy: CeDeFi (Centralized-Decentralized Finance), DeFi 2.0, the integration of AI and blockchain, and the convergence of Web 2.0 and Web 3.0. According to Edward, HTX Ventures is now focusing on pre-seed to Series A investments, particularly targeting early-stage projects. Their investment scope covers a wide spectrum of sectors, such as infrastructure, DeFi, DePin, SocialFi, GameFi, Layer 1 & 2, BTCFi, and AI. Beyond attractive valuations, HTX Ventures prioritizes business innovation, business models, operational capabilities, and team building as key pillars of its investment philosophy.As the Managing Partner of HTX Ventures, Edward was also invited to another global crypto summit in Dubai, the Cardano Summit 2024. In the roundtable discussion “Empowering Users: The Impact of Exchanges on Crypto Accessibility,” Edward expressed his opinion that the blockchain landscape may undergo significant polarization in the future. Based on Edward’s view, three main factors are contributing to this phenomenon. First, as more exchange-traded funds (ETFs) enter the market, larger capital gains easier access to lucrative investment opportunities, further reinforcing existing wealth. Second, the influx of highly educated individuals with strong financial backgrounds into the blockchain space will lead to greater specialization. Third, large capital possesses a distinct advantage in the market, enabling it to leverage resources and information effectively. This advantage makes it easier for wealthy investors to generate higher returns, further widening the wealth gap.From Blockchain Life to the Cardano Summit, HTX and HTX Ventures have made frequent appearances in Dubai within a short period, underscoring their strategic positioning in the Middle Eastern crypto market and their commitment to developing the region’s blockchain ecosystem. Through active participation in industry events and summits and by sharing insights on market trends and investment strategies, HTX seeks to foster innovation and application in crypto technology, thereby contributing to the building of a more accessible Web 3.0 ecosystem.About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.For more information on HTX, users can visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, and Discord. For further press enquiries, users can contact HTX@ruderfinn.com.ContactRuder Finn Asiahtx@ruderfinn.comThis article was originally published on Chainwire More

The 200 EMA is a potent secondary support level that is situated just below the trendline. This could keep SHIB from experiencing a complete price collapse. Shiba Inu is among the many assets for which the 200 EMA has historically shown itself to be a dependable support level. The risk of a significant decline is somewhat reduced as long as the asset is able to maintain its position above this crucial threshold. According to the price chart, Shiba Inu has been generally rising, but the momentum has slowed, and these important support levels are now the only thing being watched. Before a possible recovery, there might be some consolidation if the price drops below the trendline but stays above the 200 EMA. However, Shiba Inu may experience a longer decline if both of these thresholds are crossed.XRP’s unpleasant comebackXRP’s return to a crucial price level that was last observed in July, August and September has caused some serious trouble. At the moment, XRP’s price is circling between $0.52 and $0.53, a range from which it had previously had difficulty recovering. This can indicate a bearish retracement, which could result in a more significant decline in price. The return to this level suggests that XRP, which had just begun to show signs of recovery, may have lost its bullish momentum. The asset is currently under more pressure, and unless the market changes, there is a good chance that XRP will enter a more serious downtrend. The situation is becoming even more difficult due to the general sentiment of the market and XRP’s incapacity to maintain above significant resistance levels. Nevertheless, there are still possible support levels for XRP that might save the day. The 200-day EMA, which is situated just below the current price, is the most prominent. The 200 EMA has historically served as a reliable level of support for a variety of assets, including XRP. If XRP can stay above this level, it might stop a more significant retracement and give time for consolidation before trying to rise again. A break above the 100 EMA, which is currently acting as resistance, might rekindle the bullish sentiment. In order to ascertain whether the asset can stabilize or whether a more significant sell-off is imminent, traders must keep a close eye on important levels, particularly the 200 EMA, as XRP is currently in a precarious position.In order to preserve the bullish structure that Bitcoin has been striving for, the $66,600 support level is essential according to the current chart. A break below might indicate that buying pressure has significantly decreased, which would cause the price to continue to decline.The next crucial support level for Bitcoin is the $64,000 range, which it could easily return to if this occurs. The real risk for Bitcoin is that it might return to the $52,000 range, but below that it might find some respite around $60,000. When Bitcoin breaks significant support or resistance levels, it usually moves in big swings. If the $66,600 level does not hold, there could be a steep drop. Conversely, the $70,000 barrier will be the next obstacle, and Bitcoin’s all-time high of $73,000 will follow if buyers intervene and drive the price higher from there. Traders and investors are currently keeping a close eye on the $66,600 level. Bitcoin might reenter a protracted bearish phase and fall to $60,000 or even lower if it is unable to hold support at this level.This article was originally published on U.Today More

Reacting to this price correction, Dogecoin co-founder Billy Markus, known as Shibetoshi Nakamoto on X, has sent a message to Bitcoin.“Dear Bitcoin, I recommend that instead of going down, you go up. Love, Billy,” the message reads.As the broader crypto ecosystem continues to battle with the disappointment of the low price movement of digital assets, Nakamoto’s “letter to Bitcoin” intrigues many traders. The price fluctuations are frustrating given the expectations that October held for many.Historically referred to as Uptober, many predicted an upward price trajectory for digital assets generally. Some analysts even predicted that Bitcoin would surpass its all-time high (ATH) of $73,750, set before the halving event in April. However, so far, Bitcoin has underperformed based on general expectations.Nakamoto’s letter is likely motivated by a desire to see the ripple effect that Bitcoin will have on altcoins. Notably, a surge in Bitcoin’s price has been known to rub off on other crypto assets as market sentiment gets bullish.Meanwhile, Dogecoin’s unpredictable volatility has made long traders exercise greater caution as they monitor the bearish trend. Market analysis revealed that approximately 32 million DOGE, valued at $3.88 million, belonging to long traders, were liquidated in 24 hours.Hence, the Dogecoin cofounder’s letter to Bitcoin might be a cry for a bullish season to hit the broader cryptocurrency market.This article was originally published on U.Today More

According to CoinGlass, the recent market meltdown resulted in 54,568 traders being liquidated, with $30 million coming from short liquidations and a whopping $108 million from long liquidations. The largest single liquidation order occurred on the OKX crypto exchange, involving an ETH-USD-SWAP position valued at around $2 million.In terms of market performance, major assets have shown mixed results as they have started a consolidation trend. Bitcoin (BTC) is currently trading at $66,619, after a slight decrease of 1.22% over the past 24 hours. Ethereum (ETH) is trading at $2,574, with a more notable decrease of 2.34%. Consequently, the overall market capitalization remains under pressure due to extensive liquidations, raising concerns about future price stability.Analysts predict several potential outcomes for the broader market. First, the significant number of liquidations could lead to increased volatility, especially if bearish sentiment continues to dominate. This could exacerbate market instability, driving prices down further. On the other hand, some experts suggest that the market may undergo a corrective phase, potentially creating buying opportunities for savvy investors.This article was originally published on U.Today More