Cryptographic World

Ripple’s XRP has been in the spotlight lately as XRP price predictions heat up and market sentiment leans bullish despite the recent pullback. Here are the top 3 reasons why now might be the perfect time to consider buying XRP.

1. XRP Price Near Key Support With a Bullish Prediction Toward $3
The current XRP price is trading around $2.28, holding just above a strong support level at $2.25. This level has historically served as a bounce zone, and bulls appear to be watching it closely.

XRP price predictions from analysts and crypto traders remain optimistic, with many projecting a rebound toward the $2.80–$3.00 range in the coming weeks. If XRP breaks above the psychological resistance at $2.30, a rally toward the $3 mark becomes increasingly likely.

This presents an attractive risk-reward setup for traders who believe in XRP’s long-term fundamentals and short-term recovery.

2. Ripple's Expanding Global Use Case and Utility in Cross-Border Payments
Beyond the charts, XRP news continues to highlight Ripple’s expanding partnerships and use cases, especially in the cross-border payment sector. Ripple's collaboration with financial institutions across Asia, Latin America, and the Middle East supports ongoing demand for XRP as a bridge currency.

Recent XRP news reports also confirm that Ripple is deepening its foothold in institutional finance. This means potential adoption-driven demand could fuel a sustained increase in XRP price over time, making today’s low-$2 range an attractive entry point.

3. Oversold RSI and Institutional Attention Signal a Potential Bounce
Institutional attention is quietly returning to XRP as the Relative Strength Index (RSI) dips toward oversold territory. Currently, XRP’s RSI is around 33.51 on the 2-hour chart, signaling that the asset is nearing a technical bounce zone.

Traders looking for short-term gains are closely watching this level, with many positioning for a move back above the 50-day SMA near $2.37. As XRP price consolidates, low RSI readings offer an early signal that a bounce may be in the cards.

XRP Price Analysis: Is XRP a Good Buy Today?
Let's dive into the technicals using the latest XRPUSD chart (2-hour timeframe):

XRP price is sitting at $2.28867, testing a critical support level around $2.25. This zone has previously acted as a springboard for bullish reversals.
The 50-period SMA stands at $2.37380, which is the first resistance target for any potential bounce.
The RSI (14) is at 33.51, just above the oversold threshold of 30. This suggests bearish momentum is slowing, and a reversal may be brewing.
Volume is tapering off, which could indicate sellers are exhausting and bulls are waiting to step in.
If XRP price holds above $2.25 and breaks above the 50 SMA, expect a bullish move toward $2.50 and eventually $2.80–$3.00, in line with leading XRP price predictions .

Ripple’s XRP has been in the spotlight lately as XRP price predictions heat up and market sentiment leans bullish despite the recent pullback. Here are the top 3 reasons why now might be the perfect time to consider buying XRP.

1. XRP Price Near Key Support With a Bullish Prediction Toward $3
The current XRP price is trading around $2.28, holding just above a strong support level at $2.25. This level has historically served as a bounce zone, and bulls appear to be watching it closely.

XRP price predictions from analysts and crypto traders remain optimistic, with many projecting a rebound toward the $2.80–$3.00 range in the coming weeks. If XRP breaks above the psychological resistance at $2.30, a rally toward the $3 mark becomes increasingly likely.

This presents an attractive risk-reward setup for traders who believe in XRP’s long-term fundamentals and short-term recovery.

2. Ripple's Expanding Global Use Case and Utility in Cross-Border Payments
Beyond the charts, XRP news continues to highlight Ripple’s expanding partnerships and use cases, especially in the cross-border payment sector. Ripple's collaboration with financial institutions across Asia, Latin America, and the Middle East supports ongoing demand for XRP as a bridge currency.

Recent XRP news reports also confirm that Ripple is deepening its foothold in institutional finance. This means potential adoption-driven demand could fuel a sustained increase in XRP price over time, making today’s low-$2 range an attractive entry point.

3. Oversold RSI and Institutional Attention Signal a Potential Bounce
Institutional attention is quietly returning to XRP as the Relative Strength Index (RSI) dips toward oversold territory. Currently, XRP’s RSI is around 33.51 on the 2-hour chart, signaling that the asset is nearing a technical bounce zone.

Traders looking for short-term gains are closely watching this level, with many positioning for a move back above the 50-day SMA near $2.37. As XRP price consolidates, low RSI readings offer an early signal that a bounce may be in the cards.

XRP Price Analysis: Is XRP a Good Buy Today?
Let's dive into the technicals using the latest XRPUSD chart (2-hour timeframe):

XRP price is sitting at $2.28867, testing a critical support level around $2.25. This zone has previously acted as a springboard for bullish reversals.
The 50-period SMA stands at $2.37380, which is the first resistance target for any potential bounce.
The RSI (14) is at 33.51, just above the oversold threshold of 30. This suggests bearish momentum is slowing, and a reversal may be brewing.
Volume is tapering off, which could indicate sellers are exhausting and bulls are waiting to step in.
If XRP price holds above $2.25 and breaks above the 50 SMA, expect a bullish move toward $2.50 and eventually $XRP
2.80–$3.00, in line with leading XRP price predictions

Today in crypto, Strategy co-founder Michael Saylor hints at Bitcoin buy, Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and AI centers, and ARK Invest CEO Cathie Wood says crypto ETFs are here to stay, and crypto industry executive.

Strategy co-founder Michael Saylor signals impending Bitcoin purchase

Strategy co-founder Michael Saylor hinted at an impending Bitcoin purchase by posting the Bitcoin
BTCUSD
chart the executive typically posts on Sundays to signal that the company will acquire more Bitcoin the following day when traditional financial markets open.

"I only buy Bitcoin with money I can't afford to lose," Saylor wrote to his 4.3 million followers in an X post.

According to data from SaylorTracker, the company holds a total of 576,230 BTC, valued at over $62.5 billion, and is up over 55.5% on its investment, representing unrealized gains of over $22 billion at the time of this writing.

The company continues to be closely watched by investors as a proxy for Bitcoin and a barometer for institutional adoption of the scarce digital asset.

Pakistan allocates 2,000MW power for Bitcoin mining and AI centers

Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.

In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.

The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.

Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood

ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade.

“I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button,” Wood said at the Solana Accelerate event in New York on May 23.

“So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster,” she said. “But they will be a stepping stone into wallet-based.”

Bitbo data suggests that there are around 200 million active Bitcoin wallets worldwide. Meanwhile, the trading week ending May 23 saw approximately $2.75 billion inflows into US-based spot Bitcoin ETFs, coinciding with Bitcoin reaching a new all-time high of $111,970 on May 22.

Shiba Inu is at point where things might get problematic for asset.

According to the most recent data from IntoTheBlock, Shiba Inu is at the point where things might turn around, as the asset lingers at the 539 trillion SHIB on-chain resistance level. This level, which includes 132,610 addresses and an average price of $0.000017, is serving as a stronghold of selling pressure as shown by the thick red bands on the In/Out of the Money charts. The bullish argument is also not supported technically by the SHIB daily price chart.

SHIB was knocked back to $0.0000142 after making a strong attempt to regain the $0.000015 level. At this point it is teasing the important short-term support at $0.0000140. While the 100 and 200-day EMAs are still firmly above the market preventing any sustained breakout attempts, the 50-day EMA (green) has flattened.

Momentum is evaporating as the RSI struggles around the neutral 50 level. This is supported by volume data, which shows waning buy-side fervor even as SHIB tests important support. In summary, the chart displays a classic example of bullish fatigue. What is the significance of this 539 trillion SHIB level then?

This resistance cluster is a battlefield of market psychology rather than merely a collection of idle bag holders. Since many of these addresses are probably waiting for an opportunity to break even, any rally into the $0.000015-$0.000017 zone is probably going to encounter strong sell pressure as these trapped holders sell. It is a formidable barrier for SHIB to overcome because of this. The $0.0000140 support is essential for bulls to hold. Anticipate a decline to $0.0000135 and possibly $0.0000120 if it breaks, wiping out the gains from the May bounce. The psychological level of $0.000018 would be the next target if SHIB could absorb the selling at the 539 trillion resistance and flip it. SHIB is currently at a crossroads: Either hold up against the 539 trillion sell wall and rise or watch as the last wave of buyers pulls the rug out from under it.

Shiba Inu (SHIB) flips Bitcoin Cash, but is once-popular meme coin back?

With a market cap of $8.45 billion, Shiba Inu (SHIB) now ranks 16 among the largest cryptocurrencies by CoinMarketCap, surpassing Bitcoin Cash (BCH), which follows closely behind with a market value of $8.24 billion. It’s a small difference, and yet it's another moment where a meme coin has beaten out a more traditional project

Despite its price remaining at just above $0.000014, there is a large and active SHIB holder base of over 1.5 million, and the total circulating supply is approaching 589 trillion tokens. Its daily trading volume is around $178 million.

By contrast, with just under 20 million coins in circulation, Bitcoin Cash trades at over $415 and sees higher daily trading activity at about $243 million.

Nonetheless, SHIB outperformed and its rise echoes a bigger trend as the market currently favors more reactive, attention-grabbing assets, with meme coins right at the center. Even though Bitcoin Cash offers exposure to Bitcoin’s original vision and plays a role in the payment space, its pace hasn’t been enough to match the current attention surrounding tokens like SHIB.

It's unlikely that this latest flip will change long-term outlooks, but it shows where the market’s focus is. Especially during periods of low conviction or sideways movement, coins that move quickly and engage large communities are likely to be in the spotlight. Shiba Inu keeps benefiting from that trend.

#Shibainu

Table of Contents
HMSTR Token Price Prediction
Conclusion

One of the most popular games in the crypto world, Hamster Kombat, is all set for its much anticipated HMSTR airdrop on September 26.

With the conclusion of Hamster Kombat Season 1, the team has taken a snapshot on September 20, 2024 for the mega Airdrop event. This airdrop is expected to become one of the biggest in the crypto space with its massive token distribution plan.

Initially delayed from its July release date, the HMSTR token will now be officially airdropped on September 26, 2024. Players who linked their wallets to their Hamster Kombat account will soon be able to trade or hold the tokens in less than a week’s time.

HMSTR Token Price Prediction
While the launch is just a week away, the HMSTR token price prediction has become a topic of speculation among players. Especially after the pre-market trading announcement by Bybit on July 8, 2024. Bybit offered traders early access to secure HMSTR tokens before the official listing.

According to Bybit’s data, pre-market trading prices fluctuated between $0.001 and $0.10 per token. This range reflects early market sentiment but Bybit also clarified that pre-market trading prices might not be an exact indicator of the token’s final listing price.

Considering this data, HMSTR’s launch price could settle within the $0.10 to $0.30 range, though this may vary based on market dynamics and how players and traders respond once the token is officially listed. If demand is high following the airdrop, there’s potential for a short-term surge in price. Besides this, it is also expected to have higher volatility due to involvement of millions of players worldwide.

Following are some factors that could influence the official listing price of HMSTR:

Market Demand: The interest in Hamster Kombat’s play-to-earn model is expected to drive early demand for the token. If trading volumes surge after the airdrop, we could see a price increase.
HMSTR Token Supply: The total supply of HMSTR tokens remains unknown, which could significantly impact the price depending on how many tokens are in circulation once the airdrop is complete.
Pre-Market Trading Impact: Although pre-market prices ranged from $0.001 to $0.10, analysts predict that the official listing price could settle within the $0.10 to $0.30 range, depending on market sentiment and early adoption.

Conclusion
With the HMSTR airdrop scheduled for September 26, 2024, the Hamster Kombat community is eagerly awaiting the token’s official launch. While early pre-market data offers some insight into the token’s price, the actual listing price could be influenced by a variety of factors including market demand and token supply.

The upcoming Airdrop presents enormous opportunities for players who have been involved in the game since months. While many airdrops in crypto space have changed users’ lives overnight, HMSTR airdrop is also expected to be one of them and most rewarding among all.

Disclaimer: This article presents speculative price of HMSTER tokens based on analysis of other popular tokens launched recently. Readers must note that actual price of HMSTR tokens will be declared only after the airdrop on September 26, 2024.

PiP World is gearing up to launch Gold Rush, integrating crypto education within a trading simulator game on Telegram—with an airdrop ahead.

PiP World, an educational crypto gaming startup, is launching its first Telegram game Gold Rush in beta on Thursday. The move comes amid the explosion of Telegram gaming, with leading game Hamster Kombat reportedly amassing over 300 million users alongside other games that have drawn in crowds tempted by a token airdrop.

Gold Rush, however, takes the viral tap-to-earn genre driving the Telegram craze and adds an educational spin. Players will be asked to tap their screens over and over, earning in-game coins as they upgrade their trading office—and rising from intern to hedge fund owner.

This is very similar to other Telegram games that incentivize tapping in-game, dangling a future token airdrop in front of players. Such rewards are normally allocated to users according to a variety of parameters, but that’s where the gaming startup’s educational ethos comes in.

In what is being billed as a “skill-based” airdrop, in-game coins will be used for an in-browser trading simulator. Players will wager virtual currency investing in top cryptocurrencies such as Bitcoin, Solana, and Dogecoin—not really, though; it’s purely a simulation—with a global leaderboard influencing your cut of the future airdrop.

PiP World aims to educate people about trading and crypto through gaming experiences. In August, the startup acquired a Roblox stock-trading game called StockRise with the aim of educating a younger audience in the hopes that they’d dive deeper into the PiP World ecosystem. Now the company is creating a Telegram game to expand its educational empire.

The project has yet to confirm when its PiPS token generation event (TGE) will take place, but PiP World expects that the airdrop will occur at the end of October. PiP World has not decided which chain the token will be minted on, however.

“We're currently exploring multiple blockchain options and engaging in discussions for potential grants and collaborations,” Saad Naja, PiP World’s CEO, told Decrypt. “We’re committed to selecting a chain that aligns best with our mission and community need.”

Most Telegram games have opted to launch their tokens on The Open Network (TON), a network aligned with Telegram itself, with Notcoin being the most successful example. Launched in May, Notcoin’s NOT token skyrocketed to a peak market cap of $2.97 billion in the biggest crypto gaming token launch of the year.

That said, Hamster Kombat’s airdrop is scheduled for September 26, with many players hoping it could be the largest airdrop in history. And other notable Telegram games, like Catizen and Rocky Rabbit, will launch their own tokens in the coming days as well.

But players of Gold Rush won’t have to rely on a future airdrop if they’re eager to make some cash. Shortly after the initial beta launch, the game will add a "FlashDrop" feature, which sees players race to complete daily tasks to receive a reward in USDT or TON from a prize pool over $100,000.

Before the HMSTR token hits TON next week, Hamster Kombat will take a snapshot to determine airdrop allocations. Here’s when.

Hamster Kombat, the largest Telegram tap-to-earn crypto game in terms of player base, announced Tuesday through its mini app that the first season of in-game rewards will end on September 20 ahead of next week’s token launch and airdrop.

According to the in-game screen, “Season 1 ends on September 20” and that players’ achievements up to that point “will be converted into HMSTR tokens.” Hamster Kombat then encourages players to “hurry up to level up” before the cutoff. The team previously shared which in-game criteria will be used to determine token allocations.

In a Telegram community post shared Tuesday, the Hamster Kombat team said that it will take a “snapshot” of players’ in-game earnings and status at 6pm UTC on September 20. However, as previously confirmed, a second in-game season of rewards is planned for after the airdrop.

Hamster Kombat will launch its HMSTR token on The Open Network (TON) on September 26 and offer an airdrop claim to players. The game has previously claimed to have more than 300 million total players to date, with Telegram app data showing 94 million active players over the last month. That makes it the most-played Telegram game by far.

While the Hamster Kombat token launch is widely anticipated by crypto gamers, it’s also seen as potentially problematic for TON itself. TON saw two periods of downtime in late August due to another token claim for a smaller project, prompting concerns that the size of the Hamster Kombat drop could again take down the network.

In fact, TON Core developers admitted last week in a Telegram post that the launch of HMSTR a well as Catizen’s CATI token launching on September 20 could lead to “more technical pressures and possibly some unforeseen issues” amid high-profile token drops.

Can You Guys Explains How Do We Get The Address and The Memo

Binance users will be able to earn a share of 3 billion HMSTR in the lead-up to Hamster Kombat’s token launch on TON.

Popular Telegram tap-to-earn game Hamster Kombat is set to launch its HMSTR token on The Open Network (TON) later this month alongside an airdrop to its many millions of players. On Thursday, the developers announced plans to drop billions of tokens to Binance customers, as well, through a Launchpool rewards campaign.

The HMSTR token will have a total supply of 100 billion tokens, the anonymous Hamster Kombat team revealed Thursday as part of the announcement—and 3 billion of those tokens have been allocated for the Binance Launchpool campaign.

The HMSTR token will have a total supply of 100 billion tokens, the anonymous Hamster Kombat team revealed Thursday as part of the announcement—and 3 billion of those tokens have been allocated for the Binance Launchpool campaign.

Binance customers in legally permitted countries—not including the United States, for example—will be able to stake Binance Coin (BNB) and the FDUSD stablecoin in the weeklong rewards campaign to earn a share of HMSTR tokens. The campaign will run from September 19 until September 26, the launch date for the token.

Launchpool campaigns have been used for dozens of previous token launches, including major gaming tokens in 2024 like Pixels (PIXEL) and Portal (PORTAL), with Binance customers staking billions of dollars’ worth of BNB and FDUSD in both campaigns to earn a share of the rewards.

Hamster Kombat’s token launch is sure to be a landmark event in the burgeoning Telegram gaming space, given that the game has reportedly attracted over 300 million players to date. The size of the player base has generated concerns over whether TON, which went down twice in late August, can even handle that level of demand.

It’s not the only big Telegram game token that’s set to launch in late September, either, with Catizen and Rocky Rabbit also setting their respective TON token debuts in the lead-up to the HMSTR token generation event. Another rising Telegram game, the Elon Musk-themed X Empire, plans to launch its token soon after HMSTR.

Hamster Kombat’s team said in July that it plans to airdrop 60% of the total token supply to early players, which means that if that estimate remains accurate, then 60 billion tokens will be split between the many millions of claimants. Click here to learn more about what they’ve said so far about how airdrop allocations will be determined based on game progress.

Neiro on Ethereum breaks into top 25 meme coins by market cap after jumping 233% following a number of crypto exchange listings.

Neiro on Ethereum (NEIRO) has broken into the top 25 meme coins by market capitalization, according to CoinGecko. This comes after the token was listed on exchanges Binance, Crypto.com, HTX, and OKX over the past three days.

Earlier this year Kabosu, the mascot of Dogecoin, sadly passed away. Two months later, Kabosu’s owner adopted a new Shiba-Inu called Neiro. This caused a meme coin war as two Solana meme coins launched in the new pup’s honor and then the Ethereum NEIRO entered the picture, vying for liquidity from degens. But now the dust has settled and “Neiro on Ethereum” has pulled away from the pack.

The token has soared 233% over the past 7 days amid a slew of crypto exchanges listing the token for trading.

On Friday, OKX listed Neiro on Ethereum for futures trading with Binance following just two hours later. Over the coming days, Crypto.com, HTX, and a number of smaller exchanges also listed the token.

In turn, its largest rival on Ethereum plummeted 47% to a market cap of $19 million and its Solana competitor dropped 22% to $7.2 million. Meanwhile, Neiro on Ethereum has climbed to a market cap of $161 million which places it as the 23rd largest meme coin by market cap, ahead of tokens like Maga (TRUMP), Gigachad (GIGA), and Mumu The Bull (MUMU).

“Congrats! Great to see another dog token on Binance! Woof,” the official Shiba Inu Twitter account replied to the announcement of Neiro’s Binance listing.

This comes after meme coin influencer SlumDoge (also known as the Dogecoin Millionaire) urged for the crypto community to unite around Neiro. He explained to Decrypt that since Dogecoin rose to popularity and other Shiba-Inu tokens were created, the communities have been fighting for supremacy.

He now wants Neiro to be the moment the two communities join forces.

“It was a huge rivalry between the Dogecoin and Shiba Inu communities,” SlumDoge said on a recent episode of the What’s the Meta? podcast. “I started thinking damn, I wish there was something we could all agree on. I feel like Neiro, this is the opportunity for both of those big dog-based communities to come together.”

His sentiment underscores why it’s noteworthy that the Shiba Inu official Twitter replied to support Neiro’s Binance listing. As for Dogecoin, there has been no word from its official social media channels that suggest support for the token based on Neiro having the same owner as the late Kabosu.

On Sept. 9, 2024, ethereum’s price hovers at $2,309 as it struggles to break free from a strong downtrend, observed across multiple timeframes. The market reflects uncertainty, with oscillators showing mixed signals and moving averages signaling a bearish outlook. While there are signs of accumulation near current support levels, the broader market environment demands caution from traders.

Ethereum
Ethereum’s 1-hour chart reflects a range-bound market, with prices fluctuating between $2,240 and $2,340. Support is firmly held at $2,240, while resistance looms at $2,338. Recent volume spikes indicate a lack of follow-through buying pressure after the drop to $2,240, signaling indecision among traders. As the market remains in consolidation, ethereum’s next move will likely hinge on a breakout from this range.

On the 4-hour chart, ethereum shows a mild recovery after hitting a low of $2,149. Minor support has formed at $2,240, while resistance remains at $2,338 and $2,450. The drop from $2,500 to $2,200 saw a significant sell-off, but post-selloff volume has decreased, indicating weak bullish momentum. Traders may consider waiting for a decisive move above $2,350 or preparing for a further decline if the price breaks below $2,300.

Daily chart analysis paints a clearer picture of ethereum’s prolonged downtrend. The market has seen consistent lower highs and lower lows, with support found around $2,149 and resistance near $2,823. The significant volume during the recent sell-off highlights potential capitulation, but the lack of a strong reversal pattern suggests the market is still vulnerable. A cautious entry near $2,200-$2,300 may be viable, but risk management is crucial.

The oscillators provide mixed signals for ethereum. The relative strength index (RSI) at 37 is neutral, while the commodity channel index (CCI) and momentum suggest a buy signal, indicating potential upward pressure. However, the moving average convergence divergence (MACD) at -121.2 signals continued bearish momentum, while the majority of moving averages (MAs)—both exponential and simple—remain in sell territory, reinforcing the overall downtrend.

Ethereum shows potential for recovery if it can break above the $2,350 resistance level. Oscillators such as the CCI and momentum indicate buying pressure, suggesting that a bounce from the $2,200-$2,300 support zone could lead to short-term gains. A breakout above key resistance levels could attract more buyers, potentially reversing the current downtrend.

Bear Verdict:
The dominance of bearish signals across moving averages and the MACD suggests that ethereum may continue its downward trajectory. Failure to hold above the $2,300 support level could lead to further declines, with $2,149 as the next key level to watch. The lack of strong buying pressure and weak volume recovery indicate that downside risk remains significant in the near term.

The Sahm Rule, a key recession indicator, continues to signal an elevated risk of an economic downturn in the United States, adding to bearish sentiment in crypto markets already grappling with negative on-chain trends.

According to a recent analysis by ETC Group (now a part of Bitwise), the Sahm Rule remains triggered, implying an imminent US recession. Created by former Federal Reserve economist Claudia Sahm, this indicator flags the onset of a recession when the three-month moving average unemployment rate rises 0.50 percentage points or more relative to its low during the previous 12 months.

The latest data reveals the Sahm recession indicator stood at 0.53 in July 2024, slightly up from the previous month. This sustained elevation above the required threshold suggests that recessionary pressures persist despite the resilience shown by the US economy so far.

The ongoing recession risk comes as crypto markets face their challenges. ETC Group’s analysis indicates that major Bitcoin on-chain metrics have continued negatively trending. Net selling volumes across Bitcoin spot exchanges totaled around -$606 million over the past week, though the selling pace has gradually declined throughout the start of September.

Additionally, Bitcoin whales transferred 9,477 BTC to exchanges on a net basis last week, contributing to increased selling pressure. As a result, Bitcoin exchange balances have risen over the past week.

The bearish on-chain data aligns with broader negative sentiment in crypto markets. ETC Group’s in-house “Cryptoasset Sentiment Index” continues to signal bearish sentiment, with only 4 out of 15 indicators above their short-term trend.

However, some analysts see the potential for a shift in market conditions. ETC Group suggests that the combination of macro and crypto sentiment capitulation in early August may have marked a significant tactical bottom for Bitcoin, potentially signaling the start of a renewed bull run. This view is based partly on expectations of looser monetary policy from the Federal Reserve, which could provide a favorable tailwind for cryptocurrencies in the coming months.

As the market navigates these conflicting signals, recessionary risks and bearish on-chain trends persist, and the potential for monetary policy shifts and oversold conditions could set the stage for a market reversal.

The price of JUP, the native token of Jupiter’s decentralized exchange, has been volatile since its launch earlier this year. What does the future hold for this coin?

Table of Contents

What is Jupiter and how does it work
Jupiter coin price prediction: short-term outlook
Is JUP token a good investment?
Jupiter Jupiter jup 1.3%

Jupiter reached a high of $2.04 shortly after its launch and a major airdrop on January 31, 2024. However, by February 21, the price had dropped to a low of $0.4557. The token then approached its previous high again in April, hitting $1.77. As of today, September 9, 2024, JUP is trading around $0.7, having decreased by approximately 18% over the past month. Right now, the token is ranked 62nd among cryptocurrencies by market capitalization, which is over $955 million.

What’s next for JUP? Could it ever surpass its previous price peak? Check out our Jupiter price prediction for 2024 and beyond.

What is Jupiter and how does it work
Jupiter is a decentralized exchange operating on the Solana blockchain Solana
sol
0.9%
Solana. Its goal is to act as a swap aggregator, facilitating decentralized cryptocurrency transactions for users. It operates through a network of smart contracts that manage essential functions such as linking wallets and processing crypto token trades.

The JUP token serves as the project’s governance token. What is the JUP crypto price prediction for the short and long term?

Jupiter coin price prediction: short-term outlook
According to CoinCodex’s Jupiter price prediction, the coin’s price is expected to increase by 226.77%, potentially reaching a new all-time high of $2.3 by October 9, 2024.

As of September 9, 2024, the overall sentiment for the Jupiter price forecast remains bearish, with only 6 technical analysis indicators showing bullish signals and 20 indicating bearish trends.

Jupiter price prediction 2024
Based on CoinCodex’s expectations for JUP, it is anticipated to trade between $ 0.7053 and $ 3.32 in 2024. If it hits the upper end of this range, the token could experience a rise of 368.65%.

According to DigitalCoinPrice, investors, exporters, and market experts believe that JUP will surpass its previous high of $2.04 this year. They predict it will then stabilize between $1.4 and $1.56.

Alchemy Pay has launched its crypto payment solutions on Telegram through The Open Network.

This addition will allow users of the popular messaging app to make crypto transactions without leaving the platform, making it easier for Telegram’s user base to engage with digital currencies.

The partnership, announced on Alchemy Pay’s X account, is part of the company’s broader mission to bridge the gap between traditional finance and the crypto world.

In other words, Alchemy Pay is simplifying how people send and receive crypto directly through the Telegram app, much like sending a regular message. This new feature streamlines digital currency usage by keeping everything within one platform.

Toncoin Toncoin
ton. 7.19%
Toncoin, the network’s native cryptocurrency, has surged by over 8% in the last 24 hours, outpacing Bitcoin Bitcoin
btc
2.45%Bitcoin.

Alchemy Pay and Telegram’s developments
It has been a busy summer for Alchemy Pay, which recently partnered with Mastercard to improve user verification and prevent identity fraud using advanced machine learning technology. This collaboration enabled Alchemy Pay to identify genuine users and reduce fraud in its payment gateway system.

Alchemy Pay also partnered with Paysafe to attract more crypto users across 130 countries, allowing them to buy crypto using over 40 fiat currencies.

TON, the blockchain originally developed by Telegram, has proven to be a strong foundation for this integration. TON has maintained a growing user base and demonstrated resilience in the competitive crypto market.

Telegram, and by association, TON, have been in the spotlight this summer. Telegram’s founder, Pavel Durov, was recently arrested on multiple charges and subsequently released under police authority in France.

The Indonesian crypto trading platform has seen a rapid increase in its numbers this year.

Crypto exchange Binance said its subsidiary Tokocrypto has secured a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), according to a Sept. 9 statement shared with CryptoSlate.

This development positions Tokocrypto as the third exchange in Indonesia to receive the PFAK license. The country currently has 35 prospective crypto exchanges registered with Bappebti.

Tokocrypto’s growth
Over the past year, Tokocrypto has seen significant growth, with its user base surpassing 4.5 million and monthly trading volume increasing by 138%, signaling growing trust in its services.

Yudhono Rawis, Tokocrypto’s CEO, emphasized the license’s significance in achieving the company’s goal of becoming Indonesia’s leading crypto-asset trading platform. He stated:

“Over the past two years, Tokocrypto has continuously strengthened its commitment to maintaining high standards of regulatory compliance. We are proud of this achievement to become the third exchange to receive PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti.”

Binance, which fully acquired Tokocrypto in late 2022, had previously held a majority stake in the company.

Richard Teng, Binance’s CEO, praised Tokocrypto’s achievement, describing it as a testament to its dedication to regulatory compliance. He added that Binance remains committed to supporting Tokocrypto’s mission to promote Web3 growth in the region.

He said:

“Binance is committed to fully supporting Tokocrypto in its mission to drive the growth of the Web3 ecosystem in the region.”

Following the news, CoinMarketCap data showed that Tokocrypto’s native TKO token saw a 15% increase to $0.3342.

Binance compliance efforts
This milestone hopes to reinforce Binance’s commitment to regulatory compliance under Teng’s leadership. Over the past months, the exchange has secured licenses in various regions, including Kazakhstan and India.

However, Binance faces challenges in Nigeria, where authorities have detained its executive, Tigran Gambaryan, since February.

US lawmaker French Hill— who visited Gambaryan earlier this year— condemned his continued detention and highlighted concerns over his deteriorating health. He stated:

“This is outrageous. It’s clear Tigran’s condition is rapidly deteriorating – the Nigeran government must release him immediately.”

Data collected by crypto ETP provider CoinShares indicates that the crypto market witnessed the largest weekly outflows since March amid falling prices.

Crypto investment products faced outflows exceeding $725 million last week, matching the largest recorded outflow since March.

In a Sept. 9 research report, CoinShares head of research James Butterfill attributed this dynamic to stronger-than-expected macroeconomic data from the previous week, which increased speculation about a potential 25 basis point interest rate cut by the U.S. Federal Reserve.

“The markets are now awaiting Tuesday’s Consumer Price Index inflation report, with a 50bp cut more likely if inflation comes in below expectations.”

James Butterfill, CoinShares head of research

The data shows that outflows were mainly concentrated in the U.S., which saw a net withdrawal of $721 million, while Canada-based products witnessed outflows of $28 million. In contrast, European markets showed more positive sentiment, with Germany and Switzerland recording inflows of $16.3 million and $3.2 million, respectively.

Bitcoin stuck in fear zone

Bitcoin Bitcoin
btc
1.89%
Bitcoin saw the largest outflows at $643 million, while short-bitcoin had small inflows of $3.9 million. Ethereum Ethereum
eth
0.74%
Ethereum lost $98 million, mainly from the Grayscale Trust, as exchange-traded fund inflows slowed. Solana Solana
sol
-0.06%
Solana stood out with $6.2 million in inflows, the highest among digital assets.

Bitcoin also saw a sharp decline in exchange activity, with daily inflows dropping 68% from 68,470 BTC to 21,742 BTC, and outflows falling 65% from 65,847 BTC to 22,802 BTC. Data from Alternative shows that the Crypto Fear and Greed Index hit 26, its lowest point in over a month, signaling heightened investor anxiety and a more cautious market sentiment.

Tether, the issuer of the world’s largest stablecoin, has invested $100 million to buy a 9.8% stake in Adecoagro, a agro-tech firm in Latin America. This is Tether’s first move into the agriculture and food industry.

Tether usually invests in technology, including artificial intelligence, Bitcoin mining, and digital education. This new investment in Adecoagro marks a shift toward agriculture.

According to a filing with the US Securities and Exchange Commission, Tether used money from its own funds for this investment. The company now owns 10,048,249 shares of Adecoagro, which is almost 10% of the company’s total shares.

Adecoagro, which started in 2002, is a major milk producer in Argentina, processing 550,000 liters per day at its Buenos Aires plant. The company also works in sugar, ethanol, and energy in Brazil.

Alongside this investment, Tether is also planning to launch a new stablecoin linked to the United Arab Emirates dirham (AED) with partners Phoenix Group and Green Acorn Investments. This new stablecoin will be backed by reserves from the UAE.

With this new investment, Tether seems to be expanding its focus beyond digital assets and technology.

Here's a collection of some of the top crypto market updates from this week, encompassing BTC, Telegram, and Ripple's chronicles.

Highlights

Bitcoin and Altcoins turbulent ahead of FOMC, JOLTS data ignites concerns.
Telegram continues to attract legal eagles, prompting a policy change.
Ripple vs SEC lawsuit sees new development.

The crypto universe has closed another week, primarily stirring uncertain sentiments among market watchers. Bitcoin (BTC) and Altcoins witnessed turbulence ahead of the looming FOMC, while macroeconomic events further impacted investors’ sentiments. Telegram’s legal scrutiny saga saw new developments, while the Ripple XRP lawsuit continues to fuel speculations.

Crypto Market Faces Extreme Turbulence This Week
In an unprecedented turn of events, the U.S. stock market noted declines in tandem with the crypto market as this week kicked off, primarily due to rumors of Nvidia (NVDA) receiving a subpoena by the U.S. DoJ. However, the market saw some ease as the AI giant refuted claims of receiving a DoJ subpoena.

Nevertheless, U.S. JOLTS data sparked further volatility this week, coming in at 7.7 million, a 4.6% decrease from the market forecast of 8.1 million. Subsequently, market participants expect a Fed rate cut by 50 bps this month. However, broader impacts remain uncertain as September is probably the worst month for both stock and crypto markets.

Telegram Saga Continues
Meanwhile, in the aftermath of Telegram CEO Pavel Durov’s courtroom scrabble in France, the social messaging app continues to garner scrutiny. S. Korea started an investigation into Telegram over illicit activities this week, CoinGape reported. Simultaneously, the social messaging app recently issued a policy update on illegal content. These policy moderations have garnered significant attention as the firm continues to address legal concerns.

Ripple Lawsuit Advances
Furthermore, the XRP lawsuit witnessed Judge Analisa Torres and the U.S. SEC agreeing on Ripple’s stay order for a $125 million payment. XRP on-chain movements amid these developments added to speculations on the native crypto’s price ahead.

On the other hand, Ripple executive chairman Chris Larsen endorsed Democratic Kamala Harris this week, CoinGape reported. Ripple CEO Brad Garlinghouse shared insights on the RLUSD stablecoin launch this week. Nevertheless, regulatory uncertainty continues to spark speculations within the XRP community.

Other news from across the globe includes Japan’s Metaplanet partnership with Ripple partner SBI. Moreover, the BoJ (Bank of Japan) recently hinted that it is looking to hike interest rates. The current crypto market anticipates further price action shifts in light of key market events.

Despite technological advancements, public engagement in the crypto industry seems to be waning amid the constant barrage of "game-changing" solutions.

As we approach the end of 2024, the emerging tech landscape bears little resemblance to that of 2019. In just five years, the whirlwind of innovation that swept through decentralized finance, artificial intelligence, and blockchain technologies has transformed our digital world at a dizzying pace. Yet, amid this rapid progress, I see a curious phenomenon emerging: innovation fatigue.

Due to the breathtaking advancements in tech over the past five years, from DeFi summer to ChatGPT, the world is entirely different in 2024 from the world we knew pre-COVID.

Once ablaze with enthusiasm, the crypto market now struggles to maintain momentum. Bitcoin, after briefly surpassing $70,000 earlier this year, has retreated to around $55,000. In parallel, NVIDIA, the poster child of the AI boom, has seen its stock price decline sharply. While global economic uncertainties and inflation concerns offer partial explanations, they fail to capture the complete picture.

I’m not convinced this growth stagnation is simply a commentary on economic global uncertainty due to high inflation. Inflation is coming down almost everywhere and is expected to continue to decline. Additionally, the Fed is about to cut interest rates this month. As a result, analysts are bullish on US GDP growth for 2025-2028, expecting the economy to rebound strongly as rate cuts take effect. This optimism is based on expectations of recovering labor force participation and solid productivity growth.

So, is high inflation really a good enough answer, or is it just an issue being parroted because it’s easier than looking beyond key talking points?

Perhaps the world is becoming oversaturated by ‘game-changing,’ ‘revolutionary,’ and ‘next-generation’ technology to the point where people just don’t care anymore.

Crypto is boring in 2024, except for Bitcoin
The crypto industry, in particular, is grappling with a paradox. Despite technological advancements, public engagement seems to be waning. The constant barrage of “revolutionary” Layer-1 blockchains, “game-changing” Layer-2 solutions, and “next-generation” AI models has created a cacophony of innovation that’s increasingly difficult for the average person to parse.

Personally, I find it almost impossible to get excited about the 1,000th new DeFi project or layer-2 press release that hits my inbox each day, trying desperately to convince me the project is revolutionary. Even when the tech is extremely cool, I ask myself, “Can this achieve the network effect necessary for it to be relevant?”

Most of the excitement in 2024 has been focused on spot ETFs in the US with the hope that the price will eventually follow what gold did 20 years ago. However, that’s precisely how long it took gold to take off after the first gold ETF was launched in the US. I’ve analyzed this in the past, and while I don’t think it will take Bitcoin as long to eclipse gold’s performance, it’s now clear that it’s not happening this cycle.

Outside of ETFs, I believe Bitcoin is still the most exciting aspect of the broader crypto industry in 2024. DeFi finally coming to Bitcoin, explorations of how it can be used to secure proof-of-stake chains, alternative assets like Ordinals, Runes, TAP, and BRC-20, and growing interest in how Bitcoin can be used as a replacement for kinetic warfare are some of the most underrated advancements of the year.

Bitcoin is a globally distributed timestamping and event-sequencing network that will genuinely change the world in ways few realize. Instead, the market appears to be more interested in memecoins on Solana and Base for some reason.

Perhaps the innovation on Bitcoin isn’t sexy enough right now, or it’s that there are no ‘massive gains’ to be made in a short space of time. Either way, the industry must be stagnating from boredom when pump and dump memecoins are what’s driving interest.

Moreover, the spectacular failures within the crypto space, such as the collapse of Terra Luna and FTX, have eroded trust and enthusiasm. These setbacks, coupled with high-profile security breaches like the Wormhole hack, have made many wary of embracing the next big thing in blockchain technology.

AI is like a cheat code making the game of life less interesting
This sentiment extends beyond crypto. As reported by McKinsey, while generative AI saw a staggering 700% increase in Google searches from 2022 to 2023, overall technology equity investments fell by 30-40% to approximately $570 billion last year. This dichotomy suggests that while interest in cutting-edge tech remains high, there’s growing hesitation to commit resources amid the relentless pace of change.

The psychological impact of this innovation overload is profound. Sentiment analysis since 2019 reveals a growing ambivalence towards technological breakthroughs. The once-exciting promise of each new development is increasingly met with a shrug as if to say, “What’s next?”

This apathy may stem from a sense that current AI models are already so advanced that further improvements seem incremental rather than revolutionary. Are we now looking to the future and saying to ourselves, “AI will be able to do all of that soon, so I don’t really care about anything until models reach AGI and can act as my digital servants to do whatever I ask of them 24/7”? The public imagination may be leaping ahead to the possibility of AGI, making intermediate advancements feel less significant by comparison.

The UK government’s 2024 survey on public attitudes towards AI offers further insight. While there is recognition of AI’s potential benefits, there is also widespread concern about job displacement and the erosion of human skills. This anxiety about the future may contribute to a reluctance to engage fully with emerging technologies.

What happens next? A boring life?
As we navigate this period of innovation fatigue, it’s important to recognize that progress often occurs in cycles. Periods of rapid advancement are typically followed by consolidation and reflection. Rather than viewing this as a negative trend, it may represent a necessary pause – a chance for society to catch up with the technological leaps of recent years.

This moment presents an opportunity for the emerging tech industry to refocus on practical applications and tangible benefits rather than chasing the next headline-grabbing breakthrough. It’s a time to build trust, address ethical concerns, and demonstrate how these innovations can meaningfully improve lives.

The challenge now is not just to innovate but to innovate responsibly, with a keen eye on societal impact and long-term sustainability. Only by doing so can we reignite the public’s imagination and enthusiasm for technology’s transformative potential.

The next Bitcoin all-time high, therefore, may not be reliant on short-term holders, nation-state adoption, banks holding Bitcoin or regulatory change but, in fact, in allowing the world to finally settle into this ‘new normal’ post-2020, where AI and blockchain are already changing so much of what we once knew.

For instance, when extrapolating to what is possible even with the current AI models, it feels like we’re playing a computer game with cheats turned on—something that is fun for a while but eventually gets boring due to the lack of challenge and future progress.

We need to accept this isn’t ‘cheat mode’. This is the world in which we now reside.

We have to accept it and embrace it so we can once again get excited about new things. However, there’s also the risk that continued improvements in AI will mean we never again get a chance to stand still and reflect, and we just have to deal with feeling ill at ease with how things are.