The cryptocurrency market took another hit on September 3, with the total market cap dropping by over 1.5% to around $2.3 trillion. The plunge left many market participants questioning the key catalyst for this downturn and how much longer it will last. 24-hour performance of major cryptocurrencies. Source: Coin360Let’s take a look at the factors that have caused the cryptocurrency market to decline today.Cryptocurrency Prices Plummet on Weak Manufacturing DataCryptocurrency markets are also selling off, mirroring the weakness experienced by U.S. stock markets, with the S&P 500 seeing its biggest drop since the market crash on August 5. The S&P…
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The Threshold community has proposed merging tBTC and WBTC. This proposal stemmed from concerns about the stability of WBTC due to Justin Sun’s involvement. According to the proposal, BitGo will receive T tokens and become a key stakeholder in the Threshold Network. As part of a strategic move to secure the future of Wrapped Bitcoin (WBTC), a proposal has been put forward to merge Threshold’s decentralized tBTC token with BitGo’s WBTC, titled “#saveWBTC – Merge with Threshold’s tBTC.” The proposal, currently being discussed on the Threshold forum page, comes as concerns grow within the cryptocurrency community about the stability of…
Exchange • September 3, 2024 4:40 PM EDT Posted 1 minute earlier ~ in Binance, the world’s largest cryptocurrency exchange Solana brush -6.18% According to an announcement made on Tuesday, the staking product will be launched by the end of September.The so-called BNSOL tool allows users to stake their SOL tokens to earn a portion of the fees paid by the network, while also minting liquid staking tokens that can be used while the underlying tokens are locked.“Unlike basic staking that locks up assets, BNSOL is an ideal solution for those looking to maximize the potential of their staked Solana…
Pump.fun reaches $100 million in sales. Critics charge that the platform has high fees and huge losses. Pump.fun makes launching tokens easier than ever. The Mimecoin craze has captured retail investors, luring them with the promise of quick profits. However, the reality for most investors is far from what they had hoped for. Most Mimecoins collapse in a short period of time, leaving retail investors with losses. One of the platforms that makes money with Mimecoin is Pump.fun, which made $100 million in record time. However, it has been met with criticism, with many accusing the company of profiting from…
Timothy Morano Sep 3, 2024 03:51 Binance adds Toncoin (TON) to its Simple Earn Locked Products, offering up to 5.9% APR rewards during the promotional period. Binance, one of the major cryptocurrency exchanges, has announced that it is adding Toncoin (TON) to its Simple Earn Locked Products. According to Binance, this new product will allow users to earn up to 5.9% APR rewards during the promotional period.Mechanism of TON lock productsThe subscription format for TON Locked Products operates on a first-come, first-served basis. Certain subscription amounts, limits, and term requirements apply, which affect the…
The Bitcoin (BTC) price fell 10% in the 10 days ending September 3, dropping from $64,190 to $57,800. This decline came as the S&P 500 was just 2% below its all-time high and gold was just $50 off its all-time high. Some cryptocurrency investors attribute Bitcoin’s decline to the broader macroeconomic environment, but other factors are also pushing the price below $59,000.The macro economy is in a downtrend, but traders are sensing a change in trend. source: DamidepiTrader DamiDefi explains that while Bitcoin has been affected by US recession fears, this trend is stabilizing as the focus shifts to “monetary…
A widely known cryptocurrency analyst believes that Ethereum (ETH) and one of its competitors are gearing up for a major recovery rally. Anonymous cryptocurrency trader Kaleo told his 645,400 followers on social media platform X that Ethereum could soon surge into double digits after testing the $2,100 level and breaking out of a downtrend line. “Late $2,100/early $2,200, then rebound.” Source: Kaleo/X Looking at the charts, this trader predicts that ETH could hit $4,000 within a few months, which would represent an increase of over 64% from the current price. At the time of writing, Ethereum is trading at $2,440,…
People • September 3, 2024 5:33 PM EDT Posted 1 minute earlier ~ in Updated: September 3, 2024 5:39 PM EDT New details about the Donald Trump-linked cryptocurrency project World Liberty Financial have surfaced in a new CoinDesk report published Tuesday. According to a white paper that is reportedly being workshopped, the project will be built on the decentralized finance platform Aave and the Ethereum blockchain, and will center around a “credit account system.”Announced in late August (and originally launched under the brand name The DeFiant Ones), details of the Trumpian project are scarce. The former president’s sons, Donald Trump…
Crypto quests have become one of the leading and most effective methods of crypto marketing in this sector. These are typical campaigns that introduce users to find out certain tasks or achievements in exchange for certain rewards.People who are not interested in tokens can get interested by building an ecosystem around a cryptocurrency project, and this approach achieves its purpose in addition to encouraging people to participate in the project.Benefits of Using Quest in Crypto MarketingCommunity Engagement: Quests encourage active user participation, creating a sense of community and belonging. By completing tasks, users become more invested in the project, which…
Join us telegram Stay up to date with the latest news coverage by subscribing to our channels. Simon’s Cat price has surged 9% over the last 24 hours to $0.00002398 as of 3:15 AM ET, with volume up 6% to $54.6 million. The popular meme coin has been on an upward trend since August 30, initially dropping to the $0.000018 support level. The token’s price has fluctuated over the past few days, but the overall trend has been bullish over the past five days, with Simon’s Cat outperforming many other cryptocurrencies, including altcoins from the meme coin sector and other…