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  • Sui (SUI) and Bitcoin Dogs (0DOG) gains attract investors’ attention

    Sui (SUI) and Bitcoin Dogs (0DOG) gains attract investors’ attention

    Sui (SUI) and Bitcoin Dogs (0DOG) gains attract investors’ attention
    • Sui (SUI) has surged 116.2% in three months.
    • While Bitcoin Dogs (0DOG) has seen a considerable decline since its public listing, key metrics point to a possible trend reveal.
    • Both tokens show growth potential, with SUI’s TVL exceeding $1 billion and rising interest.

    Cryptocurrency investors are continuously on the lookout for promising assets that offer significant growth potential and two tokens, Sui (SUI) and Bitcoin Dogs (0DOG), have caught the attention of investors.

    Both Sui and Bitcoin Dogs have showcased impressive performance and unique features, making them appealing choices for traders and long-term investors.

    Sui price soars by 63% in two weeks amid bullish market sentiment

    Sui (SUI) has recently made headlines, witnessing a remarkable price increase of over 116.2% in the past three months, outpacing established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

    Currently priced at around $1.77, SUI has demonstrated resilience despite a recent price pullback, suggesting a robust bullish sentiment. Its price has risen by 63.7% over the past two weeks adding to its yearly gains of 277.09%, at press time.

    Sui’s TVL recently surpassed the significant milestone of $1 billion, hitting an all-time high of $1.03 billion on September 19. Although the TVL has slightly decreased to approximately $984.85 million according to DefiLlama, this figure still represents a substantial increase from previous metrics, showcasing the growing liquidity and trust in Sui’s decentralized finance (DeFi) ecosystem.

    A higher TVL generally indicates greater liquidity, making the protocol more attractive to both investors and developers.

    Sui’s trading volume also reflects strong market confidence, with recent spikes reaching over $1 billion, indicating sustained investor interest. The derivatives market mirrors this trend, with volumes reaching $2.49 billion on September 25, a notable 35.57% increase within just 24 hours.

    Despite some fluctuations, these figures underscore a high level of participation in the SUI derivatives market, with significant short liquidations suggesting that bearish traders are being squeezed out, paving the way for continued bullish momentum.

    In addition to impressive financial metrics, Sui has seen a rise in user engagement, with daily active addresses increasing from 1.24 million to 1.8 million on September 27—a 12.93% uptick in just one day. This surge in user participation signals heightened interest in Sui’s decentralized applications (dApps) and services, which could further enhance the asset’s attractiveness.

    Bitcoin Dogs (0DOG): The Rising Meme Coin

    Besides Sui, Bitcoin Dogs (0DOG), a relatively new meme coin, is rapidly establishing itself in the meme coin sector. It is currently priced at $0.00661 after a successful presale round and listing on several crypto exchanges including MEXC.

    Although 0DOG has experienced notable volatility, including a 64.83% decline over the past month, its long-term prospects remain bullish. This is largely due to its close correlation with Bitcoin’s price movements, positioning it as a leveraged play on Bitcoin, especially as institutional interest in Bitcoin ETFs grows.

    What sets Bitcoin Dogs apart is its innovative approach. As the first-ever ICO project on the Bitcoin network, it combines elements of NFTs and play-to-earn (P2E) gaming mechanics. The upcoming launch of its Telegram game is anticipated to provide additional utility, attracting not only meme coin enthusiasts but also gamers and investors looking for innovative blockchain projects.

    This unique blend of features positions Bitcoin Dogs as more than just another meme coin; it represents a new frontier in the Bitcoin ecosystem.

    Despite recent fluctuations, Bitcoin Dogs has the potential to outperform traditional assets in bullish market conditions.

    Analysts predict that the meme coin supercycle is just beginning, with 0DOG expected to capitalize on this trend. Early Bitcoin investors, who have demonstrated market-savvy decisions in the past, are flocking to Bitcoin Dogs, hoping to replicate their initial successes with Bitcoin.

    Conclusion

    With both Sui and Bitcoin Dogs capturing investor attention through their unique value propositions and strong metrics, they are set to play significant roles in the evolving cryptocurrency landscape. As more participants enter the market, these tokens could pave the way for future growth, making them essential assets to watch closely in the coming months.

    Whether you are a seasoned trader or a newcomer to cryptocurrency, SUI and 0DOG offer intriguing opportunities for those willing to explore their potential. For more information about 0DOG, you can visit the project’s website.

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  • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules
    • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under current regulations.
    • SEC plans new regulations for DeFi and trading systems to protect investors.
    • Crypto firms, including Coinbase, push back against expanding regulatory scope.

    In recent statements, SEC Chairman Gary Gensler has firmly reiterated that Bitcoin is classified as a non-security under existing SEC regulations. His comments came during an interview on CNBC’s “Squawk Box.”

    Gensler emphasized the importance of regulatory clarity, insisting that while many firms have benefitted from the public’s growing interest in cryptocurrencies, they often resist the regulations designed to ensure market integrity.

    In the interview, Gensler noted that the SEC’s role is to foster trust in the market, stating, “Innovations do not develop in the long term unless they also build trust.” He referenced the significant losses and bankruptcies that have occurred in the crypto space, underscoring the necessity of having regulations in place to protect investors.

    Gensler’s remarks also follow the recent eToro settlement, which confirmed that Bitcoin (BTC), along with Bitcoin Cash (BCH) and Ethereum (ETH), are not considered securities.

    Despite Gensler’s reaffirmation regarding Bitcoin, he acknowledged the discontent among crypto firms concerning regulatory frameworks. He highlighted that many industry stakeholders argue against the existence of such regulations, which he attributes to their discomfort with the enforcement actions taken by the SEC.

    Gensler indicated that the SEC is working on new regulations for decentralized finance (DeFi), suggesting a potential shift in oversight for various trading platforms.

    SEC’s trading systems proposal

    Earlier Gary Gensler while testifying before the US House Financial Services Committee discussed the SEC’s ongoing proposal to mandate that alternative trading systems register as brokers. This proposal aims to close regulatory gaps among trading platforms, ensuring compliance with rules intended to prevent unfair trading practices.

    However, the proposed regulations have met significant push-back from digital-asset firms, including Coinbase, which argue that the definition of an exchange could inadvertently include DeFi platforms, complicating their compliance.

    As the SEC continues to navigate the complex landscape of cryptocurrency regulation, Gensler reiterated the agency’s commitment to fostering a transparent market.

    With no timeline set for final decisions on the trading systems proposal, the SEC remains open to considering applications from exchanges seeking to offer central clearing for the US Treasury market, which is projected to expand significantly under new rules.

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  • Bitcoin surges past $65k to push 90% of holders into profit

    Bitcoin surges past $65k to push 90% of holders into profit

    Bitcoin price has spiked past $65,000, reaching the highest price level since early August 2024. The surge to the $65k level, with BTC hitting $65,500 on Coinbase, has put more than 90% of Bitcoin holders into profit.

    Notably, the surge has other coins looking to break higher. Ethereum has strengthened above $2,600, BNB is above $600 and Solana has jumped to $157.

    BTC/USD price chart. Source: TradingView

    BTC hits 7-week high

    In recent weeks, Bitcoin had struggled to breach resistance at $60k.

    However, once bulls did, the flagship cryptocurrency has run to a seven-week high last seen on August 2, 2024. The coin’s price hit the $65.5k area on most major crypto exchanges to see it retest a level likely to be key for both bulls and bears.

    Earlier in the day, on-chain analytics platform IntoTheBlock noted that more than 90% of BTC holders would swing profitable if Bitcoin crossed the $65k.

    This has happened and with recent profit taking deals in mind, bulls may need further strengthening to continue higher. Short term, the key levels are at $68k and $70k – which could include a potential retest of the all-time high of $73k reached in March.

    Alternatively, bears may take advantage and return prices lower – a scenario witnessed in July/early August as BTC declined from highs of $70k.

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  • Whale dumps $3 million worth of INJ and buys LDO

    Whale dumps $3 million worth of INJ and buys LDO

    An image of a whale’s tail in the ocean
    • The whale sold over 150k Injective (INJ) tokens worth over $3.29 million.
    • According to Lookonchain, the whale acquired 2.44 million Lido DAO (LDO) worth over $3.05 million.
    • INJ price dipped slightly while LDO rose

    A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens.

    On Wednesday, Sept. 25, Lookonchain shared on-chain details that showed the whale dumped 150,428 INJ valued at $3.29 million. The whale swapped the INJ for 2.44 million LDO valued at more than $3.05 million.

    Per Lookonchain, the whale sold their INJ for LDO via crypto liquidity provider Cumberland.

    Injective price

    Injective (INJ) is layer 1 blockchain decentralized finance applications. The Binance and Mark Cuban-backed interoperable L1 blockchain currently ranks as the 49th largest cryptocurrency by market at $2.1 billion.

    The price of Injective’s native token fell 3% to trade near $21.24. INJ trading lower also saw weekly gains shrink to around 14%, while Injective is now down 1.4% in the past month. Notably, INJ reached highs of $22.70 on Tuesday, hitting the resistance level seen on August 24.

    INJ price however reached $52.62 on March 14, 2024 and its currently positioned nearly 59% off that level.

    Lido DAO price

    With the LDO purchase, the whale’s showing their bullish projection for Lido. Growth for the decentralized finance platform – a market leader in Ethereum staking – may be among catalyst.

    The Lido DAO price was up 2.6% in the past 24 hours to change hands at highs of $1.29 earlier in the day. LDO is among the top gaining tokens with +29.7%  this past week.

    LDO price was at $1.26 at the time of writing.

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  • SUI price surges as TVL hits $1.3 billion

    SUI price surges as TVL hits $1.3 billion

    Grayscale introduces Grayscale SUI Trust, boosting SUI price
    • Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.
    • Gains come after the Grayscale Sui Trust opened for accredited investors.
    • The SUI network’s total value locked has surpassed $1.34 billion.

    SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.

    What catalyzed SUI price surge?

    Sui has experienced a notable surge in volume after Grayscale announced its Sui Trust was now open to accredited investors.

    Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.

    SUI price on CoinMarketCap

    Sui’s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures pointed to the Grayscale Sui Trust’s boost to SUI market credibility as institutional interest emerged.

    Sui TVL hits $1.3 billion

    The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.

    According to DeFiLlama, Sui’s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.

    Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.

    Sui’s growing DeFi ecosystem that’s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.

    Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.

    Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.

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  • US spot Ethereum ETFs see largest daily outflows since July

    US spot Ethereum ETFs see largest daily outflows since July

    US spot Ethereum ETFs see largest daily outflows since July
    • Overall, US spot Ethereum ETFs saw $79.21 million in outflows on Monday, the largest since July
    • Grayscale’s ETHE recorded a significant $80.55 million outflow on the same day.
    • Spot Bitcoin ETFs had modest inflows of $4.56 million, led by Fidelity’s FBTC.

    On Monday, US spot Ethereum ETFs experienced their largest daily outflows since late July, totalling $79.21 million.

    This significant drop was primarily driven by the Grayscale Ethereum Trust (ETHE), which recorded an outflow of $80.55 million, marking its most substantial outflow since July 31.

    According to data from Sosovalue, ETHE was the only spot Ethereum ETF to report outflows on that day, highlighting a challenging period for the asset class.

    In contrast, Bitwise’s ETHW managed to post a modest inflow of $1.34 million, while the remaining seven spot Ethereum ETFs registered no significant movement.

    The total trading volume for the nine Ethereum ETFs reached $167.35 million, reflecting an increase from $139.47 million the previous Friday. This uptick in trading volume indicates that despite the outflows, investor activity in the Ethereum ETF space remains notable.

    Meanwhile, spot Bitcoin ETFs fared better, experiencing modest inflows of $4.56 million on the same day. This marks the continuation of a three-day streak of inflows, led by Fidelity’s FBTC, which attracted $24.93 million.

    BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also saw positive movement, with inflows of $11.54 million.

    However, Grayscale’s Bitcoin Trust (GBTC) recorded a $40.33 million outflow, making it the only spot Bitcoin ETF to face losses on Monday.

    As the cryptocurrency market fluctuates, with Bitcoin dropping 1.1% to approximately $63,122 and Ether falling 1.32% to around $2,627, these recent developments underline the volatile nature of digital asset investments. Investors will be keenly watching how these trends evolve in the coming days.

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  • Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts

    Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts

    Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts
    • Ark Invest sold 44,609 shares of its ARKB Spot Bitcoin ETF for $2.8 million as part of a rebalancing strategy.
    • The firm retains $139.7 million in ARKB, making it the second-largest holding in ARKW.
    • US spot Bitcoin ETFs saw $4.5 million in inflows, while Ethereum ETFs faced outflows.

    Cathie Wood’s Ark Invest has made headlines by offloading 44,609 shares of its ARKB Spot Bitcoin ETF, valued at $2.8 million. The sale, which took place on Monday, is part of Ark’s ongoing rebalancing strategy to adjust its fund weightings.

    However, the move is not the first of its kind, with the firm having sold $6.9 million worth of ARKB shares in early August and $7.8 million in July. In total, Ark Invest has divested $17.5 million from its Bitcoin ETF.

    Ark Invest avoiding overexposure to any one asset

    Despite these sales, Ark Invest continues to hold a significant $139.7 million in the ARKB ETF, positioning it as the second-largest holding in its Next Generation Internet ETF (ARKW). The ETF still maintains a notable 9.93% weighting within ARKW’s portfolio.

    Tesla remains the largest asset in the ARKW fund, with a 10.15% weighting, worth approximately $142.9 million.

    Ark’s recent sales align with its overarching strategy of preventing any single holding from exceeding 10% of an ETF’s portfolio. By capping weightings, the firm aims to ensure adequate diversification, avoiding overexposure to any one asset.

    Ark has actively adjusted its asset allocation to maintain balance across its funds seeing that ARKB’s value has surged up 26.5% year-to-date.

    As of Monday, ARKB traded at $63.25, reflecting a 0.8% gain for the day. This rise mirrors broader optimism in the Bitcoin market, with Bitcoin itself trading flat but holding steady at around $63,676.

    US spot Bitcoin ETFs see strong inflows

    While Ark continues to manage its Bitcoin exposure, US spot Bitcoin ETFs are experiencing strong inflows, with a net addition of $4.5 million on Monday alone, extending their positive streak to three consecutive days.

    In contrast, US spot Ethereum ETFs have seen outflows, with $79.3 million exiting the funds.

    Ark Invest’s strategic rebalancing underscores its commitment to diversification while navigating the ever-evolving landscape of digital assets.

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  • Ethereum Foundation sells 300 ETH as price hits $2.5k

    Ethereum Foundation sells 300 ETH as price hits $2.5k

    • The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks
    • On September 20, the non-profit sold 300 ETH for over $760,000 as Ethereum’s price rose to above $2,500

    The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.

    According to on-chain data, the foundation sold the 300 ETH for an average of $2,543 – which is a level that is 5% up on intraday lows of $2,440.

    In recent days, the organization had stopped its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on September 20, the dump resumed.

    Ethereum Foundation has sold Ether every four to seven days

    On September 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.

    According to Spot On Chain, a on-chain insights platform, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.

    The Ethereum Foundation has sold the native Ethereum token every four to seven, on-chain data shows.

    In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.

    The latest dump comes after Ethereum’s price surged from under $2,200 levels reached earlier this month.

    At the time of writing, ETH traded around $2,552, roughly 5% up in the past 24 hours and +8.5% in the past week.

    These gains have come as Bitcoin’s price surged to above $63,000 after this week’s Fed moved to cut interest rate by 0.5%.

    Earlier, CoinJournal highlighted that five Satoshi era Bitcoin wallets that had been dormant for 15 years, woke up and transferred 250 BTC.

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  • Bitcoin wallets dormant for 15 years suddenly move BTC

    Bitcoin wallets dormant for 15 years suddenly move BTC

    • Satoshi era bitcoin wallets dormant since 2009, have just moved 250 BTC to new wallet addresses.
    • The five wallets transfered BTC in batches of 50 coins each.
    • Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges.

    Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.

    The so-called ‘Satoshi era’ wallets are miner addresses created in the years that Bitcoin creator Satoshi Nakamoto actively mined BTC. Such wallets date back to 2009 – five of which just transferred 50 bitcoin each to new addresses.

    On-chain transactions tracker Whale Alert highlighted each of the five 50 BTC wallet movements early Sept. 20. In total, five wallets had transferred coins worth $15.9 million to new wallets.

    Lookonchain shared a screenshot of Whale Alert’s posts about the dormant coins. In this case, each of the miner addresses received bitcoin as mining rewards in 2009. Not one of these wallets transacted since that first transaction.

    Notably, none of the new wallets had moved the coins to a crypto exchange as of writing.

    In March 2024, a Bitcoin wallet dormant for over 12 years, suddenly woke up to move 500 BTC. Another wallet dormant for over 10 years, suddenly activated in April 2023.

    Bitcoin price

    The movement by these ‘Satoshi era’ BTC wallets come as Bitcoin price recovered to above $64,000 amid market reaction to this week’s Federal Reserve interest rate cut. The benchmarket cryptocurrency has over the past few months struggled to break higher – with a major dip to below $50k seen on August 5, 2024.

    Commenting on price outlook, crypto analyst Ali Martinez says its likely traders may want to take profits at current prices.

    BTC price tounched highs of $64,140 on Coinbase early Friday, September 20, 2024. However, it changed hands around $63,513 at the time of writing.

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  • WIF, PEPE, and SEI shine as cryptocurrencies surge

    WIF, PEPE, and SEI shine as cryptocurrencies surge

    Dogwifhat piece rebound and DTX token presale catch investors’ attention
    • WIF, PEPE and SEI were among top performing altcoins as Bitcoin surged to above $63,800 on Sept. 19.
    • These gains followed US Federal Reserve’s 0.5% interest rate cut.
    • Analyst says WIF could outpace market in coming weeks.

    Meme coins dogwifhat (WIF) and Pepe (PEPE), as well as layer 1 blockchain Sei (SEI) are among the top gainers in the past 24 hours as several altcoins record their best performances for a while.

    SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday.

    According to data from CoinGecko, SEI price reached highs of $0.35 as its volume jumped 224% to over $345 million. Meanwhile, WIF traded to $1.81 across major exchanges, notching an intraday volume of over $717 million with a 24-hour increase of 109% at the time of writing.

    Popcat (POPCAT), which has rallied since Kraken announced spot trading support, continued to outpace all other top 100 coins by market cap. However, meme coin Pepe also recorded decent gains to rank among best performers on the day. PEPE price jumped more than 12% to hit levels last seen on Aug. 28.

    According to crypto analyst RookieXBT, dogwifhat price has the potential to pare losses seen during its recent downtrend within weeks. Notably, the analyst also sees further gains for POPCAT.

    Crypto spikes after Fed interest rate cut

    Most of the coins seeing significant gains in the past 24 hours are registering the upside after the market reacted upward to the US Federal Reserve’s interest rate cut on Sept. 18. After four years, the Fed slashed interest rates by 50 basis points on Wednesday.

    Bitcoin price rocketed after the decision, with BTC first breaking above $60k to bolster overall sentiment. Prices retested resistance around $62.2k before a slight dip – then roared back to above $63.8k.

    Solana (SOL) broke above $143 with over 10% gains, while altcoins such as Sui, Aptos, Bittensor and Avalanche recorded more than 12% respectively.

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