TOP 5 Gainers
| Indices | LTP | Change (%) |
|---|---|---|
| Bitcoin Cash | 234.20 | 9.09% |
| Terra Classic | $0.00006519 | 7.36% |
| Maker | $1497.57 | 6.31% |
| XDC Network | $0.04989 | 4.34% |
| Toncoin | $2.20 | 4.26% |
The Uniswap Foundation seeks community approval for a $62.37 million funding request, with a 10% buffer to mitigate price volatility. The proposal follows the establishment of a non-profit status and separation of funding into tranches. UNI token price has recently stagnated amid bearish market sentiment, with short-term hopes of breaking resistance levels to rally. Uniswap's TVL has also declined alongside the broader DeFi sector.
Ethereum's price has hit yearly lows compared to Bitcoin, with K33 Research noting a shift in market preferences between the two cryptocurrencies. The decline is attributed to Ethereum's transition to proof-of-stake and a slowdown in DeFi and NFT sectors. CME traders show bearish sentiment, but optimism remains for potential approval of Ethereum futures-based ETFs, which could attract institutional interest and reverse the trend.
Hong Kong's Hashkey exchange will support trading of Avalanche (AVAX) but with a unique requirement: traders must have an investment portfolio worth at least $1 million. Hong Kong's Securities & Futures Commission restricts many altcoins, allowing only Bitcoin, Ethereum, and Tether for retail trading. AVAX's price has struggled, down nearly 14% in the past month, despite its listing on Hashkey.
Poof Payments Inc. introduces a "Pay with Anything" feature, enabling users to pay or process invoices using various digital currencies, including Cardano, Avalanche, Ethereum, and more. The move aims to fulfill the original purpose of cryptocurrencies as payment tools, addressing concerns about their price volatility in traditional retail settings. Poof Payments also offers the option to transact in standard fiat currencies, bridging the gap between digital and traditional finance.
The U.S. Bureau of Labor Statistics reports a 3.2% rise in the Consumer Price Index (CPI) in July, indicating a surge in inflation after more than a year. This suggests Bitcoin's potential as a safe haven amid fiat currency depreciation, as it operates independently without external influence, offering a transparent monetary policy to counter inflation concerns.
1xBit, the crypto betting platform, has integrated Algorand and Arbitrum for more efficient and secure transactions. Algorand addresses the blockchain trilemma with speed and decentralization, while Arbitrum offers rapid transactions and low fees. Users can now bet on 1xBit with five tokens based on Arbitrum, and the platform offers a generous 7 BTC Welcome Bonus for new users.
MARA Pool, operated by Marathon Digital Holdings, mined an invalid Bitcoin block due to a transaction ordering issue. CTO Jameson Lopp confirmed the issue, highlighting a double-spent transaction. Bitcoin's self-auditing system automatically rejected the invalid block, demonstrating the network's security against double-spending attempts.
Ripple Labs faces ongoing uncertainty despite a partial legal victory against the SEC. The SEC's intent to pursue an interlocutory appeal in the XRP case raises concerns within the cryptocurrency sector. XRP's price remains in a consolidation phase, potentially facing further retracement, but technical analysis suggests a macro uptrend may follow a reaccumulation phase, leading to a potential breakout in the future. Resistance levels at $0.5132, $0.5194, and $0.5318 pose challenges for XRP's near-term performance.
British Columbia, Canada, is facing an upsurge in crypto-related crime, with illicit funds being laundered by organized crime rings. Gang members are reportedly using cryptocurrency accounts to hide their wealth, adopting more sophisticated financial strategies. Authorities are challenged to combat these criminal activities effectively.
Also read - 24 Crypto Update, 27 Sep: Crypto market experiences a surge in buying
