Monday’s QCP Capital report highlighted two key events that could potentially cause market volatility this week: the presidential debate between Donald Trump and Kamala Harris and the final U.S. consumer price index (CPI) numbers before the Federal Reserve’s September 18 rate decision.“Cryptocurrencies have stabilized since last week’s moves, but implied volatility remains high and the market appears to still be anticipating volatility heading into this week’s events,” QCP Capital analysts said.Crypto market participants will be closely watching the two candidates’ moves in this week’s debate, as the outcome of the U.S. presidential election in November could have a significant impact…
Author: Crypto Flexs
Read More
Wang Long Chai September 9, 2024 12:51 Snax Chain, based on the OP Stack, will launch on September 15th and integrates Wormhole for secure and decentralized Synthetix V3 governance and cross-chain messaging. Snax Chain, a new Layer 2 appchain built on the OP Stack, will integrate Wormhole as its exclusive interoperability solution to power the governance operations of Synthetix V3. According to Wormhole, Snax Chain will be officially launched on September 15th. Meet Synthetix’s Snax Chain Snax Chain is designed to be the underlying platform for Synthetix V3 governance, operating independently alongside existing deployments.…
This article is also available in Spanish. Ethereum (ETH) is currently facing significant selling pressure and fear after a 23% drop, with the price dropping to a yearly low of $2,200. One of the main concerns for investors is the continued underperformance of ETH compared to Bitcoin, a trend that has been ongoing since September 2022. Since then, Ethereum has fallen 44% compared to Bitcoin. Related Materials This dramatic decline has left investors and traders wondering what is causing Ethereum’s difficulties. A recent report from CryptoQuant provides some clarity, pointing out several factors that could be influencing ETH’s performance. As…
The creator economy is emerging as a major industry. Creators receive high fees from the platforms. DRiP Secures $8 Million to Scale Decentralized Creator Platform The creator economy, valued at $156.37 billion by 2024, is quickly becoming one of the world’s largest industries. Independent creators are increasingly using big tech platforms to make a living. But they’re soon facing challenges, including unfair revenue distribution. This is what the Solana-based DRiP project aims to solve. DRiP recently secured $8 million in seed funding to enable creators to engage directly with their fans. DRiP Secures $8M Seed to Revolutionize Creator Economy Online…
Solana-based creator engagement platform DRiP has raised $8 million in a seed funding round led by NFX, Coinbase Ventures, and Progression, a fund started by former TikTok executives.According to a statement shared with The Block, DRiP’s pre-seed lead placeholder, 6th Man Ventures, and more than 30 angel investors also participated in the round. The valuation and round structure were not disclosed.The project said it would use the new capital to accelerate creator onboarding, launch a consumer-facing mobile app, expand creator tools and platform features, and strengthen marketing efforts to attract new users.DRiP was originally targeting July to launch its mobile…
Alvin Lang September 9, 2024 11:50 Digital asset investment products faced significant outflows, mainly from the US, amid interest rate cut uncertainty, but Europe showed resilience. Digital asset investment products experienced significant outflows totaling $72 million, matching the largest outflow recorded in March of this year. According to CoinShares, the negative sentiment was influenced by stronger-than-expected macroeconomic data from the previous week, which increased the likelihood of a 25bp (basis point) rate cut by the US Federal Reserve. However, the daily outflows decreased during the week as employment data fell short of expectations, leaving…
Governance platform Snapshot X launches today, introducing a new Layer 2-based protocol that enables on-chain voting for decentralized autonomous organizations (DAOs) without associated gas fees.Utilizing Starknet’s rollup technology, this feature aims to streamline the voting process within blockchain projects by removing the costs that have traditionally hindered participation.DAOs have traditionally faced a choice between fast, centrally controlled off-chain voting systems and on-chain voting, which adheres to the core principles of blockchain but is often costly and inefficient. Snapshot X aims to solve this problem by providing a cost-effective on-chain solution.Jeremy Musighi, COO of Snapshot Labs, described Snapshot X as a…
Lawrence Jengar September 9, 2024 09:50 The SFC has announced new measures to facilitate the distribution of research reports on eligible ETFs under the Stock Connect program. According to apps.sfc.hk, the Securities and Futures Commission (SFC) has announced new measures to streamline the distribution of research reports for eligible exchange-traded funds (ETFs) under the Stock Connect programme. Improved accessibility to research reports The newly announced measures will provide market participants with easier access to comprehensive research reports on eligible ETFs. The initiative is part of the SFC’s ongoing efforts to enhance market transparency and…
This article is also available in Spanish. Bitcoin price held support near the $52,500 zone. BTC is recovering losses and is facing hurdles near the $55,200 and $55,500 levels. Bitcoin is struggling to recover above the $55,500 area. The price is trading below $55,200 and the 100 hourly simple moving average. According to data provided by Kraken, there is a resistance line forming at $55,200 on the hourly chart of BTC/USD, forming a major downtrend line. The pair may struggle to recover above the resistance levels of $55,500 or $56,000 in the short term. Bitcoin Price Recovery Target Bitcoin price…
At the time of writing, Aave was outperforming most cryptocurrencies. Aave’s funding rates showed a bullish bias. Aave (AAVE) looks set to outperform other cryptocurrencies going forward, and the AAVE/BTC chart shows this trend. The AAVE/USDT pair has been steadily rising, forming higher highs and higher lows. The recent weekly candle closed above the true close of the consolidation range that has lasted for over 800 days. If AAVE price shows a downtrend on the daily chart, the $108 support area will be important. As long as price remains above this range, the resistance level can become a potential price…