Green candles continue, and 1 billion USDT have been minted!

19.09.2023

Dear traders,

The market is preparing for the next big push up and needs to hold above support for a bigger push up.

Jake
TOP Trader

BTC is making a bullish breakout and continues to push the price up to the next leg up. It is still in danger of a bigger drawdown. Take care of your trades.

ETH has broken the $1630 resistance and is showing bullish momentum for a bigger push up. However, it still needs significant buying volume for the push up.

XRP is bouncing up from the $0.5 resistance and needs to hold above it for a bigger push up. It is still in danger if the $0.5 support is lost.

LINK has broken the $6.45 support and is pushing strongly to break the $7 resistance and continue the push.

SOL is trying to break the resistance above $20, which could strongly push the price up.

EOS is attempting to break the strong $0.6 resistance and is now pushing the price up strongly. However, it still needs significant buying volume to push the price up.

LTC is showing a bullish momentum and trying to break the strong $70 resistance before the next big push up.

DXY is holding at 105 as support and needs to sustain momentum for a bigger push up.

Crypto/stock daily news:

DEFI AND STABLECOIN VOLUME HAVE BOTH DROPPED

VanEck is an investment manager with over $77B in assets under management (AUM).

According to its recent monthly crypto report:

Volume across DeFi protocols declined to $52.8B – a 15.5% decrease from July.

The total value locked (TVL) across DeFi fell 8% last month.

The firms’ DeFi index fell 21% and underperformed BTC and ETH in August. (The index tracks the performance of the largest and most liquid tokens in DeFi – like Uniswap, Lido, Maker, Aava, Curve, and THORchain.)

The market cap of stablecoins dropped 2% last month.

Why is this happening? There are two big reasons…

1/ Hacks: a handful of popular DeFi protocols, like Curve and Balancer, recently got hacked.

The attacks led to millions of dollars in stolen funds, liquidity problems, and trust issues among investors and users.

Nature is still healing over in DeFi-land.

2/High-interest rates: the elevated interest rates in traditional finance have incentivized people to shift their investment strategies.

As a result, investors have moved from stablecoins and DeFi → money market funds where they can earn 5% yield, risk-free.

It’s a big trend everyone should keep a tab on.

All eyes will be on Jerome Powell and the Fed later this week as they decide whether to hike rates or not.

FAST NEWS:

Phemex is bringing change to the world of crypto exchanges. Becoming the first semi-decentralized exchange after dropping their Soul Pass Soulbound token and Phemex token rewards. We took the time to review their offerings and broke it all down for you Roaders.

Mark Cuban was hacked for $870K worth of crypto assets over the weekend. Cuban downloaded a fake MetaMask app that drained his assets. The billionaire shark got phished.

The Japanese government launched a new policy that lets startups raise funds with cryptocurrencies. Under the new rules, startups can offer cryptocurrencies instead of stocks when raising money from investment funds.

CoinEx published an open letter to its hackers in hopes of negotiating the return of stolen funds. ? “Dear Slim, I wrote you but you still ain’t callin’. I left my cell, my pager, and my home phone at the bottom. I sent two letters back in Autumn, you must not’ve got ’em” ?

Krafton (the creator of PUBG) is launching a new NFT game called Overdare. The company has created its own blockchain (Settlus) for the game and will offer AI tools that let gamers create their own shooter games, role-playing games (RPGs), and action RPGs.

Animoca Brands is developing a new “metaverse ecosystem token” on the Bitcoin blockchain. Its subsidiary company (Darewise Entertainment) will launch the game and build a metaverse ecosystem around Bitcoin Ordinals.