Cryptocurrency Market News From tradecoind2.com

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Convex Finance (CVX) price is in the process of regaining an important support line. If successful, a strong rally will follow.

Weekly outlook

Convex Finance (CVX) price has been falling inside a descending wedge pattern since June 2022. The price has validated both the support and resistance of the wedge multiple times, confirming the validity of the pattern.

Technically, the descending wedge is a bullish pattern. This means a breakthrough is expected.

This outlook is further reinforced as CVX price is in the process of creating a false breakout below the wedge pattern (blue ellipse). False breakouts are considered bear traps and often lead to a strong rally afterward.

The weekly RSI has bounced from the oversold zone and is breaking above the descending resistance line, showing that the bulls are trying to make a comeback.

Therefore, if the false breakout is confirmed, CVX price could rise towards the critical resistance zone at 4.2, formed by the horizontal resistance zone and the resistance line of the wedge. This represents a 50% increase from current prices.

 

CVX/USDT Weekly Chart | Source: TradingView
 

Short-term resistance line
The daily chart shows that CVX price broke above a descending resistance line that has been in place since April 2023. The breakout occurred with a large bullish candle, increasing the validity of the breakout.

Therefore, CVX price has likely begun a recovery, at least in the short term.

The daily RSI supports this view, breaking above the 50 level and sloping up.

The nearest horizontal resistance is found at $3.3.


CVX/USDT Daily Chart | Source: TradingView
 

Conclude
Technical indicators suggest that CVX price will continue to move higher in the near term. The nearest target is found at $3.3 and above it to $4.2.

This view could be invalidated if the false breakout on the weekly time frame is not confirmed in the next week or two.

Source:
http://tradecoind2.com/convex-finance-cvx-price-creates-false-breakout-will-a-recovery-follow/

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Arkham, an online data platform, has revealed that it has successfully identified a cluster of Bitcoin wallet addresses belonging to popular cryptocurrency exchange Coinbase. The data firm’s findings indicate that Coinbase currently holds about $25 billion worth of Bitcoin, or about 1 million BTC, making it the largest Bitcoin entity on the Arkham platform. This incredible discovery means that Coinbase now controls nearly 5% of the total Bitcoin supply, a figure comparable to Satoshi Nakamoto’s holdings.

https://twitter.com/ArkhamIntel/status/1705254948324233270

Arkham’s meticulous data analysis identified and tagged more than 36 million Bitcoin deposit and holding addresses associated with Coinbase, with their largest cold wallet containing approximately 10,000 BTC. This suggests that Coinbase may possess thousands of additional BTC that remain undisclosed, awaiting further discovery by the platform.

Satoshi Nakamoto, the mysterious founder of Bitcoin, was previously known as the largest independent Bitcoin holder, with a reported 1.1 million BTC. However, Nakamoto’s prolonged absence and the decentralized nature of the Bitcoin network have significantly reduced concerns about the size of their holdings. The Bitcoin community has transitioned to a more decentralized ecosystem, reducing the importance of any individual’s holdings.

Furthermore, Arkham’s data analysis indicates that, based on recent financial reports, Coinbase may hold a significant amount of BTC that remains unknown. This suggests that the exchange’s Bitcoin reserves may be even larger than initially estimated.

With nearly 5% of the world’s total Bitcoin supply, Coinbase has firmly established itself as the leading global holder of Bitcoin on the Arkham platform. Therefore, the cryptocurrency community should pay attention to the actions and strategies of exchanges as they have the potential to influence significant price movements in the cryptocurrency market.

Before identifying Coinbase’s massive Bitcoin reserves, Arkham uncovered similar revelations about other prominent entities in the crypto space. Notably, they revealed that Robinhood is the third largest Bitcoin holder on the Bitcoin network while Grayscale holds the second largest amount of Bitcoin.

Source:
http://tradecoind2.com/coinbase-holds-5-of-bitcoin-supply/

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The U.S. Commodity Futures Trading Commission (CFTC) announced on Sept. 7 the outcome of a case against a South African company involved in crypto fraud.

The CFTC said that a judge has entered a consent order against Mirror Trading International Proprietary Limited (MTI), finding the company liable for several types of fraud. The order will also require the company to compensate its many victims.

According to the CFTC, MTI offered an investment opportunity in which it advertised trading intelligence software that used Bitcoin as a base currency.

However, according to the statement, the company and its CEO, Cornelius Johannes Steynberg, instead operated a multi-level marketing scheme. MTI solicited Bitcoin from investors and promised them the chance to participate in an unregistered commodity pool in return. Though that pool apparently existed, trading activity did not utilize a proprietary “bot” or software program, contrary to the company’s claims. Instead, the company and its leader misappropriated funds from pool participants either directly or indirectly.

The CFTC claims that MTI convinced investors to contribute a total of 29,421 BTC — an amount that at one point was worth more than $1.7 billion. The company accepted funds from 23,000 individuals in the U.S. and thousands more globally.

Victims will receive $1.7 billion in total
The latest court decision requires MTI to pay more than $1.7 billion in restitution to investors who its fraud has victimized. The court order enjoins MIT from violating the Commodity Exchange Act (CEA); it additionally bans the company from trading in CFTC markets and imposes a registration ban on the firm.

A default judgment against Steynberg in April required the executive to pay more than $1.7 billion in restitution plus a civil monetary penalty above $1.7 billion. It is unclear whether the $1.7 billion that MTI must pay affects Stenberg’s personal penalties.

MTI is currently in liquidation, and its website is not operational. Other descriptions of the company suggest that it paid its employees in Bitcoin, something that the CFTC did not comment on beyond allegations of misappropriated funds.

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Brian Armstrong Says Crypto Lobbying Needs To Become Powerful and Sophisticated Before 2024 Election

The chief executive of top US-based digital asset exchange Coinbase says that crypto lobbying needs to be bolstered before the upcoming 2024 election.

In a new interview with Ryan Selkis, the founder of market intelligence firm Messari, Coinbase CEO Brian Armstrong says crypto firms based in the US are facing an “unfair” regulatory environment.

According to Armstrong, certain members of the government are making it difficult for the crypto industry to thrive.

“It turns out this year, we’ve had to turn our attention of course to the policy side as many of you had as well. It’s a really unfair environment that we are in right now where every startup in the space is just getting hit with a subpoena [or] a Wells notice.

There’s a really concerted, focused effort right now to try and curtail and kill this industry. Specifically, I think the two actors I’ve seen that are most responsible for that are probably the SEC (U.S. Securities and Exchange Commission) Chair Gary Gensler and [Senator] Elizabeth Warren.”

Armstrong says that the views of Gensler and Warren are not necessarily shared by other members of the government. The Coinbase CEO also says that the industry needs to step up its lobbying efforts before the 2024 elections if it wants to see meaningful change in the regulatory environment.

“[Their views] do not represent the point of view of the rest of the US government that I interact with…

The members of Congress are very thoughtful on this. They’re very reasonable. They recognize this industry has a lot of innovation potential, and they want to protect consumers with reasonable regulation.

So we need to make sure that the SEC does not get weaponized for the political agenda of a couple of rogue actors. To do that, the crypto industry is going to have to get a little bit more sophisticated and powerful in terms of our lobbying efforts.”

Earlier this month, Coinbase launched a 14-month initiative called “Stand With Crypto,” which asks digital asset owners to contact their representatives and advocate for pro-crypto laws.

Source:
https://tradecoind2.com/brian-armstrong-says-crypto-lobbying-needs-to-become-powerful-and-sophisticated-before-2024-election/

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As the summer season officially concludes this Saturday, the outlook for crypto fundraising appears promising heading into the fall.

Eleven crypto startups raised a combined total of $115.5 million across a variety of disciplines this week. Gaming, though, took the cake.

Proof of Play, which describes itself as an on-chain game studio, raised $33 million in seed funding on Thursday.

Numerous angel investors participated in the round, including Balaji Srinivasan, Justin Kan and many others.

A16z’s crypto arm led the round, giving high praise to Proof of Play founder Amitt Mahajan. Mahajan is no stranger to gaming, having co-created Farmville, the farming simulator that took Facebook by storm in 2009.

“Amitt and the entire Proof of Play team are committed to a gaming future where composability, interoperability and permanence are at the core of gameplay: you own your assets, and anyone can create their own game on top of another,” a16z wrote in a blog post announcing the fresh funding.

Proof of Play’s first game, Pirate Nation, is a role playing title that has NFT functionality and allows for developers to build on top of it thanks to “on-chain game contracts.” The game, which was released back in December, was built on Ethereum and Arbitrum Nova.

Custody and digital assets infrastructure put up big numbers
A16z crypto also had its hand in raising $25 million for a startup called Bastion this week.

The firm, which emerged from stealth on Monday, is aiming to offer crypto custody, wallet management and digital asset trading mostly to corporations, Bloomberg reported.

Nomura’s Laser Digital Ventures, Robot Ventures, Not Boring Capital and others kicked in capital to support the seed round.

Bastion was co-founded by two former a16z crypto executives. Riyaz Faizullabhoy and Nassim Eddequiouaq used to serve as the venture capital firm’s chief technology officer and chief security officer, respectively.

Separately, Jiritsu, a verifiable computing provider, raised $10.2 million from gumi Cryptos Capital with participation from Susquehanna Private Equity Investments, LLLP, Republic Capital, and others.

Alongside the eight-figure raise, Jiritsu is pioneering its asset tokenization platform called Tomei RWA. The platform uses zero-knowledge attestations to better manage crypto assets.


Source:
https://tradecoind2.com/crypto-funding-startups-raise-115m-across-gaming-custody-and-institutional-services/

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In a recently published post, John Reed Stark, a former official of the Securities and Exchange Commission (SEC), has expressed his bewilderment over the apparent lack of action by the U.S. Department of Justice (DOJ) in crypto-related cases, specifically regarding the parents of an entity referred to as SBF. Stark, who has extensive experience in the field, serving close to two decades in the SEC Division of Enforcement, has observed what he terms an “extraordinary dearth” of U.S. DOJ prosecutions related to cryptocurrency, despite the numerous enforcement actions undertaken by the SEC. Stark’s main concerns Stark explicitly voiced his concerns regarding the non-inclusion of SBF’s parents as defendants by the U.S. DOJ and the SEC, stressing the contrast between the plentiful SEC enforcement actions and the scarcity of parallel criminal investigations and prosecutions by the DOJ in the realm of cryptocurrency. Related CREAM Price Soars 60%. Key Reason Why Stark noted that Gemini boss Tyler Winklevoss had dismissed such allegations as “super lame,” likening them to “manufactured parking tickets.” Meanwhile, Coinbase and Binance treat their charges as “badges of honor,” Stark notes.

 

The former SEC official explained that the SEC, primarily being a civil enforcement agency, can only impose so much restraint. Without the looming possibility of DOJ prosecutions, entities may continue to trivialize the SEC’s regulatory interventions as mere operational costs. Potential fraud charges against Binance According to a report by Semafor, the DOJ is currently contemplating pressing fraud charges against Binance, the world’s largest cryptocurrency exchange. However, federal prosecutors are wary of the potential repercussions, such as market instability and consumer fallout, that might ensue from a possible indictment and are exploring alternative resolutions like fines or non-prosecution agreements. Meanwhile, the Justice Department is restructuring its National Cryptocurrency Enforcement Team (NCET), aiming to reinforce its capability to handle the increasing volume of cryptocurrency-related investigations. This move will see NCET becoming a permanent segment, focusing on computer-related crimes within the department’s criminal division.

Source:
https://tradecoind2.com/former-sec-official-questions-lack-of-doj-action-in-crypto-cases/

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A trader known for making several accurate calls on Bitcoin says a classic indicator suggests that BTC is on schedule for a bull run next year.

Pseudonymous trader and analyst Dave the Wave tells his 140,000 followers on social media platform X that Bitcoin’s monthly moving average convergence divergence (MACD) has fully reset into underbought, bullish territory.

The MACD is a momentum indicator that can signal the reversal of an asset’s trend.

The analyst also uses his own version of logarithmic growth curves (LGC), which aim to plot the highs and lows of Bitcoin’s long-term market cycles while filtering out short-term volatility and noise.

Dave the Wave notes that BTC has been trading at the bottom of the LGC, which he calls the “buy zone,” for 15 months.

“Q4 then 2024. Bring it on.

Monthly MACD shows a maturing market as predicted along the lines of the LGC model.

MACD has crossed bullishly and well re-set just below the zero-line.

Price has now been in the LGC buyzone for 15 months.”


Source: Dave the Wave/X

While the analyst forecasts rallies in the long term, he’s not ruling out short-term volatility.

“Bitcoin is still in the buy zone for longer-term investors.

While most of my charts emphasize the macro bullish picture, this does not preclude the possibility of further consolidation in the short term…

Were such an event to occur, it would no doubt traumatize many on CT (crypto Twitter).

However, for those subscribing to the LGC model, it would be just another day at the office.”


Source: Dave the Wave/X

Source:
https://tradecoind2.com/classic-bitcoin-indicator-suggests-2024-bull-run-says-trader-who-called-may-2021-collapse/

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Upbit, South Korea’s foremost cryptocurrency exchange, suspended all withdrawals and deposits of Aptos’ native token APT after it was besieged by fraudulent activities involving counterfeit APT tokens on Sept. 24.

The interruption of deposit and withdrawal services also affected the deposit return process for the actual APT token and the fraudulent digital asset.

Upbit said it plans to resume deposit and withdrawal services once the wallet maintenance is successfully completed and assured users that returns will be processed sequentially after deposit/withdrawal support is reinstated.

Fraudulent tokens

Upbit discovered that scammers had generated fake APT tokens, which were then mistakenly identified as legitimate by the platform’s system.

Following this, a substantial quantity of these spurious tokens were deposited into multiple user accounts through automated means. More than 100,000 users were unwitting recipients of these tokens, claiming they received $APT without initiating any transactions themselves.

The deposited tokens were not native to the Aptos Network coin but were a scam token known as ClaimAPTGift.

Crisis response
Upon recognizing the crisis, Upbit promptly reached out to users who had sold the fake APT tokens with refund requests, according to user reports.

The unexpected maintenance was carried out without explicit reasoning provided to the public, causing distress among the platform’s user base. There were reports of delays in deposit processing due to network congestion and other technical disruptions.

Upbit conveyed apologies for the inconvenience caused and assured that normal processing would resume once the confirmation process was completed post-inspection.

Despite the swift response, various users took to social media to express their dismay and concern over the incident.

The incident has amplified the concerns regarding the safety and reliability of digital asset exchanges, even those considered as standard-bearers in the industry.

Source:
https://tradecoind2.com/south-koreas-upbit-experiences-severe-disruption-due-to-fake-apt-tokens/

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Ethereum co-founder recently moved ETH to centralized exchanges. Furthermore, Ethereum’s price, on-chain activity and sentiment towards the world’s 2nd largest cryptocurrency are decreasing.

On September 25, Lookonchain reported that Vitalik Buterin had just deposited 400 ETH worth approximately $632,000 on Coinbase. The move may be harmless, but large transfers of funds to centralized exchanges often signal that a sale is on the horizon.

Expected price drops of Ethereum

Furthermore, ETH price, sentiment and momentum are currently flat and it did not move in tandem with Bitcoin last week.

“There are no signs of buying pressure from Ethereum whales yet,” Ali commented late last week. ETH whales with balances greater than 10,000 have dropped this month, as has the price of the asset.


ETH Whale Balance | Source: X/@ali_charts
 

“Immortal Crytpo” also noted further price drops for ETH. On September 25, he predicted the price could fall back to $1,300 to $1,500 in the coming weeks.

However, the investor is not worried at all and said that he plans to continue accumulating at this level.

“I think ETH will outperform BTC at some point but not like the last cycle.”

Most respondents agreed accumulation is a slow and steady strategy to achieve solid returns over the coming year as cyclical momentum shifts.

On-chain analytics platform CryptoQuant has warned of a possible short squeeze for Ethereum. Furthermore, analysts observe negative funding rates in the derivatives market.

Funding rate represents the periodic payments made to traders based on the difference between the perpetual contract market and the spot price.

“This suggests that futures traders have taken a pessimistic view on ETH, increasing the possibility of further price declines,” it stated before adding:

“Consistently negative funding rates could cause a series of short liquidations, which could lead to a sudden price recovery.”


Funding rate Ethereum
 

ETH price outlook
ETH price fell again during the Asian trading session Monday morning. As a result, ETH fell 1% on the day, falling to an intraday low of $1,570 a few hours ago.


ETH price 1 day | Source: TradingView
 

The asset has recovered slightly to trade at $1,576 at the time of writing, but looks likely to fall further.

October is traditionally a bearish month for both stocks and cryptocurrencies. Therefore, the above price predictions may play out in the coming weeks.

However, Ethereum staking is still bullish, reaching new milestones, so the long-term outlook is positive.

Source:
https://tradecoind2.com/vitalik-buterin-continues-to-withdraw-funds-from-eth-further-price-drop-expected/

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4 altcoins could see more price increases, according to Santiment

A leading analytics firm says Chainlink and three other altcoins could continue to see more price increases amid bullish onchain data.

Looking at Chainlink, Santiment said the decentralized oracle network is recovering thanks to increased unique address activity.

“The number of unique LINK addresses interacting on the network reached 3,964 yesterday, a two-month high.”


Source:  Santiment/X
 

The analyst firm also  said  that Chainlink could see more price increases if market participants remain largely indifferent to altcoin performance.

“LINK has notably increased to $7.08…Less social volume in cryptocurrencies means more and more projects are moving under the radar.”

At the time of writing, LINK is worth $7.21, up more than 18% from its seven-day low of $6.09.

Santiment is also closely monitoring decentralized application (DApp) platform Loom Network (LOOM), decentralized finance (DeFi) aggregation layer Frontier (FRONT), and layer 2 blockchain ImmutableX (IMX). According to the analytics firm, these three altcoins are performing better than the broader crypto markets amid growing adoption.

“Loom (+145%), Frontier (+138%) and ImmutableX (+29%) were strong performing assets over the past week. Each has major network growth (new addresses created). If this growth is sustained, their prices could continue to rise.


Source: Santiment/X
 

As for Bitcoin, Santiment says that the number of addresses holding less than 100 BTC is at a new all-time high, owning 41.1% of the cryptocurrency king’s available supply. While non-whale wallets are gobbling up the leading cryptocurrency, Santiment noted that whales, or entities holding 100 to 100,000 BTC, have been selling Bitcoin since June.


Source:  Santiment/X
 

At the time of writing, Bitcoin is trading at $26,182.

Source:
https://tradecoind2.com/4-altcoins-could-see-more-price-increases-according-to-santiment/

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As digital assets like Bitcoin and Ethereum move towards mass adoption, the need for advanced yet easy-to-use crypto trading platforms is greater than ever. One such platform has established itself as a changing force in the Crypto space, providing robust trading infrastructure on both Crypto and traditional assets.

Now, with the launch of PrimeXBT’s Crypto Futures, the platform is taking a giant step forward to meet the needs of today’s traders. In this in-depth review, we’ll explore the key features of the all-new Crypto Futures trading experience, platform enhancements, and why this new product is a gateway to the future. for crypto trading.


Learn about Crypto Futures

The brand new Crypto Futures will give traders a powerful new tool to take advantage of opportunities in the volatile crypto market. Crypto Futures allow traders to take both long and short positions to profit from rising and falling crypto prices without needing to own the underlying currency.

Futures Contracts are available in the form of perpetual swaps, meaning they do not have a defined term like traditional futures contracts. Perpetual swaps enable seamless 24/7 trading against the constant price fluctuations of the crypto market.

At launch, the contract will initially support eight leading cryptocurrencies, including stalwarts such as BTC, ETH, LTC and XRP. The contract also offers more exotic altcoins such as BNB, MATIC, ATOM and TRX. Traders can buy or sell these digital assets, giving them the flexibility to execute diverse trading strategies to suit all market conditions.

Leverage and margin control

One of the most important features of this new Crypto Futures platform is the adjustable leverage system. Traders can customize their leverage from a conservative 2:1 to a flexible 200:1. This feature allows users to precisely control the level of risk they want depending on market circumstances.

The innovative cross/separate margin conversion feature also allows traders to seamlessly switch between the two margin modes. Cross margin pools all positions into one account balance, while separate margin separates positions into separate groups. This enhanced level of leverage and margin control will give professional traders the flexibility they need to optimize their trading strategies.

Improved user interface

In addition to trading capabilities, the Crypto Futures platform also offers a fresh user interface to enhance the trading experience. Many widgets such as watchlists, charts, order and position entry forms can be resized and rearranged to create a fully customizable workspace.

Cutting through the clutter and focusing on the most important transaction data will result in greater efficiency and fewer errors. Traders can tailor the platform to fit their workflow regardless of their strategy. This new, easy-to-customize user interface retains the aesthetics and professionalism that the exchange has long been known for.

Advanced analytical tools

The new Crypto Futures platform has been integrated with a number of advanced analytical tools to assist traders in performing market analysis. Detailed interactive order books provide visibility into the current depth of buy and sell orders. Watchlists make it easy to keep track of your priorities or find trading opportunities.

The platform also features sharp, intuitive charts with over 50 technical indicators and drawing tools from the popular charting system TradingView. Various chart types such as candlestick, line and Heiken Ashi are present here to visualize price action. For fast order execution, you can open long or short trading positions with the desired leverage instantly with just one click directly on the chart.

Trade across all asset classes
A key benefit of Crypto Futures is that it belongs to the platform’s comprehensive multi-asset ecosystem. Traders can access Forex, Commodities, Stock Indices and Crypto, all in one account on this award-winning exchange.

This diverse product mix offers the opportunity to hedge crypto positions against moves in the traditional markets. Traders can react to news and macroeconomic impacts across various global markets to execute more advanced strategies. The ability to trade major cryptocurrencies alongside global stock indices, commodities and foreign currencies is a big advantage.

The ability to open positions across asset classes helps manage portfolio risk. If a trader buys Bitcoin but expects poor jobs data to negatively impact US stocks, they can hedge their risk by shorting the S&P 500. Access to global markets and over 100 Various trading tools will expand the range of significant potential.

Copy Trading and mobile application
Also integrated into the platform are useful support features such as Copy Trading, contests and iOS/Android mobile apps. Copy Trading allows users to automatically copy professional traders to quickly achieve beginner success. Instead of learning by trial and error, new traders can replicate portfolios that are already profitable.

Free mobile app, with account management, order entry and charting features to help you react flexibly and quickly. The app’s intuitive interface makes it easy to seize new opportunities anytime, anywhere.

These back-end tools make the platform a complete solution suitable for active crypto traders, going beyond a conventional trading infrastructure to provide useful additional features. benefits, improving convenience and profit potential.

Continuous innovation in the Crypto trading segment
The launch of Crypto Futures kicked off a period of innovation for the platform. As the crypto space evolves, the company is also committed to equipping traders with institutional-grade features and excellent levels of security and user experience.

The addition of perpetual swaps, customizable leverage, cross/separate margin, and an enhanced interface demonstrates that the platform is aiming to focus on meeting the needs of today’s traders. Easy access to Crypto, Forex, Indices and Commodities trading helps diversify opportunities.

For any trader looking to maximize their chances of success in the fast-paced crypto derivatives market, Crypto Futures provides the tools and customization needed to trade at the highest level.

Conclude
With the launch of  PrimeXBT’s Crypto Futures , the platform has solidified its position as a pioneer in the crypto trading industry. Custom leverage, short selling capabilities, intuitive user interface, and powerful risk management tools give traders many advantages. Continuous improvements will increasingly make this platform an option that is hard to ignore.

As Crypto increasingly penetrates the mainstream financial industry, trading platforms need to continuously innovate while maintaining reputation and security. Crypto Futures is your gateway to the future of crypto trading, meeting the needs of traders today and for years to come.

Source:
https://tradecoind2.com/primexbt-crypto-futures-review-whats-new-in-2023/

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Hong Kong’s financial regulator, the Securities and Futures Commission (SFC) has announced it will step up efforts against unregulated cryptocurrency trading platforms within its jurisdiction.

According to a September 25 announcement , the SFC said it will publish a list of all licensed, deemed licensed, closed and pending virtual asset trading platforms (VATPs) to help the public better identify VATPs that are likely to be operating illegally in Hong Kong.

The SFC said it will also keep a separate list of “suspicious VATPs” which will be posted in a prominent and easily accessible part of the regulator’s website.

Hong Kong Lists 'Suspicious' Crypto Platforms After JPEX Scandal

This move comes after the scandal of cryptocurrency exchange JPEX, which was accused of advertising services in Hong Kong without a license.

Estimated financial losses are about 178 million USD. At the time of publication, local police had received more than 2,200 complaints from affected users of the exchange.

A total of 11 people including crypto influencers, YouTubers and employees of the alleged scam cryptocurrency exchange were detained for questioning.

In a statement, the SFC said the fallout from JPEX “highlights the risks of uncontrolled VATP processing and the need for appropriate regulation to maintain market confidence”.

Regulators added that they will work with local police to establish a dedicated channel for members of the public to share information about suspicious activity and potential violations of VATP laws, as well as regulations. better investigate the JPEX case to help “bring wrongdoers to justice”.

Since Hong Kong regulators introduced the new VATP licensing regime on June 1, only two cryptocurrency exchanges – Hashkey and OSL Digital – have received licenses allowing them to offer service for retail customers.

Despite the recent disaster, the SFC noted that it has long recognized the “potential benefits” that cryptocurrencies and other digital assets bring to financial markets. The regulator explained that it has also identified a number of risks associated with crypto assets including money laundering and investor protection concerns.

Source:
https://tradecoind2.com/hong-kong-rolls-out-suspicious-cryptocurrency-platforms/

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Aptos (APT) price could skyrocket as it attracts investor attention

Aptos (APT) price has bounced from the long-term support zone and appears to show short-term bullish signals. It is expected to recover in the near future.

Recently, South Korea’s largest cryptocurrency exchange, Upbit, encountered a concerning incident that allowed bad actors to deposit a significant amount of fake APT tokens into multiple user accounts. Although this could cause great damage to Upbit, it attracts the attention of investors to APT. This attention could increase demand in the market.

Weekly outlook

Aptos (APT) price has been falling since reaching an all-time high of $20.50 in late January 2023. This move took the price down to the previous resistance area at $5.30, which is expected to provide support level.

Indeed, the bulls have been successful in defending this zone over the past few weeks. The special thing is that the two candles last week were Spinning top candles (spinning top candles) with a positive closing level and larger trading volume than the previous 3 bearish candles (blue ellipse). It means the bulls are buying aggressively at lower levels.

If the recovery occurs, APT price could rise to the key horizontal resistance area at $8.2.


APT/USDT weekly chart |Source: TradingView
 

Break out of the short-term resistance line
The daily chart supports the bullish outlook from the weekly timeframe. It shows that APT price has broken above a short-term descending resistance line, formed since August 20. This suggests that APT price may have started a recovery, at least in the short term.

The nearest target is found at $6.

The daily RSI favors continued upside as it sits above 50 and sloping up.


APT/USDT daily chart |Source: TradingView
 

Conclude
The most likely outlook sees APT price moving higher in the next few days. The nearest target is found at $6 and above it to $8.2.

This bullish view will be invalidated on a break below the $5.3 support zone.

Source:
https://tradecoind2.com/aptos-apt-price-could-skyrocket-as-it-attracts-investor-attention/

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Binance exchange has reopened registration and access to its products and services to cryptocurrency users in Belgium – three months after being ordered by the Belgian financial regulator to cease services related to cryptocurrency.

“New registrations of Belgian residents are once again welcomed on our platform,” Binance confirmed in a September 25 post on X (formerly Twitter). Binance said its various products and services will be accessible again to Belgian users who have accepted the new terms of use.

https://twitter.com/binanceflemish/status/1706310144366129565

On June 23, the Belgian Financial Services and Markets Authority accused Binance of violating Belgian anti-money laundering and counter-terrorism laws for allegedly providing cryptocurrency-related services “from country that is not an EU member.

They ordered Binance to cease all related services in Belgium “with immediate effect” and were told to contact all customers based in Belgium and return all private keys and funds. electronically held by the exchange.

This challenge led Binance to redirect its services to Belgians through Binance Poland sp. z oo—Binance’s Polish-registered branch, registered as a virtual asset service provider in January.

Binance’s statement did not specify what changes had been made to allow it to continue service to Belgian users.

There are reports that Binance has signaled plans to delist stablecoins in the European market by June 2024, as a measure to comply with the European Union’s upcoming Markets in Crypto-Assets (MiCA) law. (EU), scheduled to enter into force in June 2024.

Meanwhile, in the United States, a mass exodus of Binance.US executives has led many industry experts to question whether the company is experiencing some internal problems.

However, Binance CEO Changpeng Zhao has repeatedly denied those rumors.

Source:
https://tradecoind2.com/binance-reopens-in-belgium/

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In a move that has the cryptocurrency community buzzing with excitement, OKX has officially announced the listing of Wall Street Memes (WSM) on its spot trading market. OKX’s listing of WSM promises to bridge the gap between internet culture and cryptocurrency trading, presenting a unique and potentially memorable investment opportunity.

Below are details of the listing schedule:

1. WSM deposits are opened at 1:00 am on September 26, 2023 Vietnam time.

The journey of Wall Street Memes on the OKX platform begins with the opening of deposits at 1:00 a.m. on September 26, 2023 Vietnam time. This gives traders and enthusiasts the opportunity to prepare for the upcoming trading fever.

2. WSM/USDT spot trading starts at 17:00 September 26, 2023 Vietnam time.

The much-anticipated moment arrives at 17:00 on September 26, 2023 Vietnam time, when WSM/USDT spot trading officially begins on OKX. This marks the beginning of a new chapter for Wall Street Memes and crypto enthusiasts looking to ride the wave of meme culture.

3. WSM withdrawal opens at 17:00 September 27, 2023 Vietnam time.

For those who want to withdraw their WSM, the opportunity will open at 17:00 September 27, 2023 Vietnam time. This step ensures that users have full control over their assets and can manage them according to their preferences.

4. WSM trading on OKX Wallet > DEX starts at 21:00 September 26, 2023 Vietnam time.

In addition to spot trading, Wall Street Memes will also be available on OKX Wallet > DEX starting 21:00 September 26, 2023 in Vietnam. This decentralized trading option further expands the opportunities for traders to engage with WSM.

Wall Street Memes, abbreviated as WSM, has a total supply of 2,000,000,000 tokens, making it a notable addition to the cryptocurrency market. For those who want to dig deeper into the technical details, WSM’s contract address is 0xB62E45c3Df611dcE236A6Ddc7A493d79F9DFadEf.

What sets Wall Street Memes apart is its origin. With an impressive community of over 800k members, Wall Street Memes represents the epitome of Web2 Internet culture. It cleverly combines meme-based humor with elements of Web3, creating a digital asset that appeals to both crypto enthusiasts and meme fans alike.

As the crypto landscape continues to grow, it is exciting to see assets like Wall Street Memes finding a home on reputable exchanges like OKX. The combination of internet culture and cryptocurrency trading is not only innovative, but also reflects a broader trend towards mainstream adoption of blockchain technology.

For those looking to explore the world of Wall Street Memes and join the meme revolution in the crypto space, listing on OKX offers an exciting opportunity to participate. Follow the markets, stay updated with the latest news and consider making some memorable investments with WSM on OKX.

Source:
https://tradecoind2.com/wall-street-memes-wsm-is-listed-on-okx/