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OKX to List Hamster Kombat’s $HMSTR Token

A huge news for gaming buddies and crypto enthusiasts!

$HMSTR token from the blockchain game Hamster Kombat is dropping on OKX Exchange on September 26, 2024. And yes it is hitting the spot market.

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What makes it more exciting is that some cool $HMSTR-related campaigns is also getting launched by OKX. To get in on the action, you can check out the countdown on OKX’s platform.

Another best thing is that before the public can buy $HMSTR during the ICO, eligible users can trade $HMSTR futures with double the leverage.

So, all the enthusiasts you can get tokens and make profits before they even hit the market.

If you are new to Hamster Kombat world, then let me tell you what Hamster Kombat is. Hamster Kombat is a fun game where you can run crypto exchanges owned by cute hamsters and use the $HMSTR token as in-game currency.

$HMSTR token listing on OKX could level up the game and token both in the crypto world.

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Bitcoin Rally Nearby As 18th Week After Halving Coincides With Fed Rate Cut

Bitcoin’s price has the potential to cross $100,000 mark in this 4th cycle. But the market always does the opposite of what the crowd thinks of.

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What happened during previous halvings?

  • 2016: For 18 weeks, $BTC was volatile ranging from $670 to $470 (-31%)
  • 2020: For 18 weeks, $BTC was less volatile ranging from $9,500 to $8,500 (-11%)
  • 2024: For 18 weeks, $BTC is volatile ranging from $71,500 to $49,500 (-31%)

$BTC price actions are painful after 4th Halving Event (April, 2024) resembling with 2nd Halving Event (July, 2016). It was painful during Q3 of 2016 just like it is happening now. But the buyers of 2020 period will not understand this as they did not suffer like this.

Price of $BTC at halving is usually marked as lowest price of Bitcoin before mega rally. Will this be true this time?

We’re at 18th week after the 4th halving event. Fed meeting is happening just 3 weeks from today. And there is a high probability of the Fed cutting the rates. Rate cuts make money available in the market more easily. Even though the history of rate cuts shows bearish price action at the beginning, it eventually triggers the mega bull trends.

Bitcoin’s weekly stochastic RSI is sitting at 20 and has enough room for move towards 80. This movement can break 6-digit price for the first time for Bitcoin.

  • Momentum is signaling for $100k
  • Fed rate cut is signaling for $100k
  • History of PA is signaling for $100k

Do you think $BTC will be above $100,000 before 2025?

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US SEC Threatens to Sue NFT Marketplace OpenSea

OpenSea, one of the growing NFT marketplaces, is in trouble with the US SEC.

On August 29, CEO of OpenSea Devin Finzer took to social media to share that the SEC sent them a Wells notice, indicating that they may get sued soon.

Reason? The SEC thinks some NFTs on the OpenSea platform could be considered securities. This highlighted the drama between the SEC and the crypto world over whether digital assets like NFTs should be treated as securities.

Fizner is not happy, but he says OpenSea is ready to stand up for creators and artists. Crypto companies debate that the current rules don’t abide by digital assets. They feel that SEC is being unrealistic and getting too involved. While, the SEC claims it’s just trying to protect investors

It is not sure if the SEC is officially investigating OpenSea , but the hit is real.

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Ethereum’s $3,000 Price Breakout Likely Postponed to Q4 2024

So, the much-anticipated surge of Ethereum (ETH) to hit $3,000, is estimated to be delayed until the fourth quarter of 2024. Despite having consistent testing of key resistance, Ether experiences distinct challenges around the $2700 mark.

Crypto analyst, Poseidon emphasized that Ethereum has shown resilience. Will ETH take time some time to break the $3,000 threshold, likely until later in the year? The 50-day Exponential Moving Average (EMA) can be a critical factor in sustaining the current levels. Else, it might fall to $1,750!

Other analysts expect macroeconomic factors and general market sentiment to be the reasons for the delay! The broad market remains relatively conservative. The traders will be observing actions in the US Federal funds rate. Similarly, the economic signals across the world may also influence Ethereum.

However, investors must continue to be patient with Ethereum. Here, we expect the fundamental drivers of the Ethereum price to remain firm and positive due to further network upgrades. This will result in increasing usage cases. However, short-term oriented fluctuations together with $250-300 resistance levels may remain a barrier for Ether reaching $3,000 until Q4 of 2024.

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Bitcoin NVT Golden Cross Struggles to Reach New Highs

Bitcoin NVT Golden Cross struggles to reach new highs indicating further problems in the Bitcoin market. The inactivity in the NVT Golden Cross shows concerns about trust and certainty. In the present time, the problems that Bitcoin can face are more volatile and challenging, especially with existing regulatory pressures.

The Bitcoin NVT (Network Value to Transactions) fails to hit new records. The NVT Golden Cross is at an early stage where market value overcomes transactions and has recently become flat. The challenges on the NVT Golden Cross to create new highs is an indication that things might be tougher for Bitcoin onwards. Traders and investors are advised to closely study the volatility in the market.

Bitcoin faces additional challenges in the current market due to factors such as regulatory pressures and macroeconomics. The flatting of NVT Golden is an early warning that it may face challenges in achieving sustainable growth. The NVT Golden Cross has to keep abreast with the current market and implement new strategies to overcome the problems.

As the market risks persist, the NVT Golden Cross will be critical to knowing the next move of Bitcoin. For now, all investors should keep their eyes on the metric as it could signal early signs of changes to the market landscape.

Mbappé’s Social Media Hacked to Promote Fake Crypto Scam

Recently one of the most popular footballers Kylian Mbappé’s official social accounts were involved in the scam. The scam was for a fake cryptocurrency which has led to huge losses for many people. They were able to use his X (formerly twitter) to launch a scam coin known as $MBAPPE. It launched with an intention of pumping and dumping it which caught many people in the scam.

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An investor lost more than one million dollars in one hour. Blockchain tracker Lookonchain said the now-infamous investor registered a new address. They performed a operation involving 7,156 SOL, which at the time was approximately $1.03 million. However, the token’s value plummeted shortly and their investment went down to $9,200 only, a loss that amounted to 99%.

The $MBAPPE token initiated by using the Solana-based meme coin platform named Pump.fun. Even though the platform makes it quite easy for users to create tokens. It received a lot of backlash for making it easy to conduct such scams as this one. Subsequently to the posts made by the hacker on Mbappé’s X account, the price of $MBAPPE rose within minutes. However, when it reached the top, the value dropped to severely low levels. This proved devastating to most of the investors.

While most lost a great deal of money, one or two traders benefitted greatly out of the confusion that ensued. One investor, who invested only 2 SOL (about $286), sold at the correct moment and realized an incredible profit of 1,398 SOL. Another seasoned trader made a 4,330x return in just three minutes by cashing out with a massive 866.14 SOL, after just spending 0.2 SOL.

This is one of the latest in what is becoming a common occurrence of attackers using the name of famous personalities to benefit financially from those they con. In January this year, hackers also appropriated McDonald’s Instagram account to advertise a fake currency known as Grimace; this had a real ripple effect costing millions of dollars.

Fortunately for now, Mbappé deleted the posts but the damage was already done.

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Base Solidifies Lead as Ethereum’s Top Layer-2 Network

Base, a Layer-2 (L2) scaling solution on Ethereum has surged its competitors behind. It has become successful in leading in key metrics that indicate its rate of growth and popularity in the market.

In the past month, Base reported a 19% rise in activity levels of addresses reaching 13.2 million. This growth was faster than major competitors such as Arbitrum One, Optimism, and zkSync, which experienced a decline in their active user bases.

The Base also leads in 30-day transaction count with 110.28 million transactions, surpassing the other Ethereum L2 networks. This figure is more than double that of Arbitrum One, which recorded the most transactions with 52.41 million during the same period.

Factors such as the successful completion of the “basenames” service on the Base network can explain the growth of active addresses and the number of transactions. This new feature attracted over 200,000 new Base.eth usernames within the first week of launch.

Base, introduced in July 2023, by Coinbase aims to increase the scalability of Ethereum while preserving the security. Its exponential growth is not only the great success story that Coinbase has to offer but is also a positive sign for Ethereum’s ecosystem. Base is growing and it has the potential to be a major player in the future of DeFi and blockchain.

Activity on Base can also increase the price of Ethereum because users gather ETH for paying gas fees. Currently, Ethereum is at $2,625, which is a common situation with the fluctuation of the crypto market.

To explore the article on Base Network surpassing 1 million daily active adressess, click here.

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Binance Ready for Cardano Chang Hard Fork as Preparations Peak

Binance through its official channels claimed readiness for the Cardano Chang hard fork increasing the readiness level of exchanges. The team originally planned the upgrade for the 27th of August. But, shifted it to the 1st of September because some exchanges were not prepared.

Earlier this week, August 24 to be precise, the founder of Cardano, Charles Hoskinson made the announcement. In that period, only 31 exchanges were ready to accept the hard fork. Of the total $41 million liquidity, 73% were in the exchanges. Those needed more time to comply with Cardano exchange requirements.

Now, Binance has joined 37 exchanges that are now ready for such an upgrade. Other platforms of a similar size are Bithumb, Bybit and Gate. The Ministry of internal affairs and other stakeholders have also prepared as well. Nevertheless, Bitfinex preceded others in signaling its readiness after it revealed it’s plans in the early part of the month.

We can also consider the introduction of the Chang hard fork a positive development for the Cardano ecosystem. Exchange readiness needed to achieve an exchange. Currently, there is 64 % of exchanges that are already ready for it. While, 17 % exchanges are still preparing for it. Some of them are HTX (formerly Huobi) and Bitget that are leading this progress with 7.25% and 4.13% liquidity.

But 11 exchanges in particular have not begun preparing. P2B is a Lithuanian exchange which at present is only 3 years old. With regard to preparation for contingencies, respondents with liquidity of less than 21% are the highest that indicates that they have insufficient preparation.

Furthermore, most of the wallets supported on Cardano are ready for exchange as well. Currently, Ledger, Trezor, and Keystone of the hardware wallets have come forward with their support. The light wallets such as Lace and Nami are also ready This implies that all the light wallets within this application are ready for live use. IOHK which has been working on the development of the Daedalus wallet released an important statement on 20th of August.

At present, 92% of SPOs confirmed their readiness for the update and assure that Cardano’s ecosystem is prepared for it.

Trump Presidency Not Needed for XRP’s Rise

  • Xena challenges the idea that Trump’s re-election is crucial for XRP.
  • Ripple’s legal victories are more important than U.S. political leadership.
  • Trump’s pro-crypto stance has boosted market confidence, but Xena sees it as unnecessary.

Xena, an influential member of the XRP community debunked the idea that Trump must get re-elected for XRP to succeed. She went on social media to share her views. She points out that trials in the Ripple’s court are more important for the future of XRP. Rather than, the holder of the presidency in the United States.

The large number of supporters for Trump in the community has raised increased hope. A hope in the possibility of the XRP benefiting from Trump’s strong pro crypto moves. They mention that his speech on June 2024 that triggered the Bitcoin and the altcoins such as XRP to rise. The incumbent president also voiced more friendly policies. Policies towards crypto if he is to again be elected for a second term.

However, Xena was quick to note that both Trump’s and Biden’s tenures had not been disruptive in Ripple’s context. She quoted Ripple chairman Chris Larsen, who said that neither administration has aided the crypto market. Before the recent win in the lawsuit, Xena noted Ripple is well positioned to move forward no matter which of the two next presidents.

Another community member, Chad Steingraber also shares the opinion stating that Trump’s comeback may take XRP to $40. However, Xena cleared this as a myth, as she believes that XRP has already set off to become the coin of the future.

Bitcoin’s 10% Drop: Concerns Over Cryptocurrency Volatility

The article examines the volatility of Bitcoin, the world’s largest cryptocurrency by market capitalization. The digital currency experienced a terrible crash of over 10%, within a single trading session, during a market crash. Its downturn resonated with cryptocurrencies such as Ethereum, Binance Coin, and Solana with similar value drops.

The crash relies on an increase in regulatory activities from the American authorities. The government agencies have intensified their analysis of cryptocurrencies. Moreover, factors such as increased interest rates and inflationary pressures have reduced investors’ confidence in risk in cryptocurrencies.

The recent crash shows the level of risk that is still prevalent and reminds investors of the risks within cryptocurrencies. Though Bitcoin has many times bounced back from similar falls, the recent plunge has now questioned the sustainability of crypto coins in the market.

Industry experts warn that the current crash in the market may be upsetting. It can also be a good time for long-term investors who trust that decentralised finance is a promising industry. However, they need to be prepared for further uncertain states in the short term as the global economy is unstable.

Before the market becomes stable again, the investors are requested to stay updated, have some patience and understand that there is much risk is involved in this new market. The next few days will be decisive to see if Bitcoin has the chances to start a recovery or if it will remain below the average price.

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