Altcoin News Daily Official TheBitTimes.com

Speaking to NPR, US Treasury Secretary Janet Yellen said a government shutdown could bring about a recession. Moreover, the government shutdown appears to be on the verge of occurring. Congress is set to meet today in a last-ditch effort to avoid a halt to government operations.  Yellen stated that such an event would “impose immediate harm” during a Friday interview. Moreover, she said the repercussions would “intensify over time.” Alternatively, although she did not make an outright prediction, the Treasury Secretary noted that the event could create a “risk factor” for a recession.  JUST IN: 🇺🇸 US Treasury Secretary Janet Yellen says a Government shutdown could lead to a recession. — Watcher.Guru (@WatcherGuru) September 30, 2023 Also Read: US Treasury Secretary Expects Slow Decline in US Dollar as Reserve Currency US Treasury Secretary Says Government Shutdown Could Lead to a Recession There is concern brewing in Capitol Hill regarding a government shutdown that

Santiment predicted that the bullish momentum for BCH, LINK, MKR, and RUNE could continue into October. All 4 tokens saw their prices increase by more than 10% in the past week and experienced notable surges in market cap. Meanwhile, the prices of both BCH and MKR decreased over the past 24 hours. The market intelligence platform, Santiment, shared an X post earlier today predicting that the positive momentum for altcoins like Bitcoin Cash (BCH), Chainlink (LINK), Maker DAO (MKR) and THORChain (RUNE) could continue into the month of October. The prediction was based on the fact that these tokens saw noticeable market cap raises in the past week. #BitcoinCash (+13%), #Chainlink (+15%), #Maker (+13%), and #THORChain (+14%) are notables that saw double digit market cap rises during a positive week for #crypto. We are seeing accumulation from big $BTC & $USDT wallets, indicating this rally can continue into October. pic.twitter.com/SyeZEndoZv — Santiment (@santi

Reports have surfaced indicating that French antitrust authorities have initiated an investigation into the cloud computing sector. Nvidia, a global juggernaut in artificial intelligence (AI) chip manufacturing, headquartered in sunny California, has reportedly found itself in the midst of a police raid at its French offices this week. This dramatic turn of events is part and parcel of a broader inquiry undertaken by French antitrust authorities into the enigmatic realm of cloud computing. Although the Wall Street Journal diligently reported on this raid on September 28, both Nvidia and the French enforcement agencies have chosen to remain tight-lipped, refraining from any official commentary on the matter. A press release found on the official webpage of the French antitrust agency, known as Autorité de la Concurrence, alludes to an unscheduled inspection targeting the graphics cards sector. According to this release, a judge granted authorization for the raid based on suspi

FTX founder Sam Bankman-Fried (SBF) will remain in jail throughout his trial on charges of fraud and conspiracy that starts on Tuesday.  Judge Lewis Kaplan denied a motion on Sept. 28 that requested his temporary release, saying he wasn’t convinced by defence arguments that Bankman-Fried would have ”almost no time” with his lawyers to prepare for the case. “They’re not going in cold here,” he said, adding that he also wasn’t sure Bankman-Fried didn’t represent a flight risk if released. “Your client could be looking at a very long sentence,” he said. “If things look bleak … if he had that opportunity, maybe he would seek to flee.” SDNY Judge overseeing Sam Bankman-Fried trial next week ponders the the possibility of SBF's risk of flight: "I gather he’s 31-years-old, and if things begin to look bleak… and if he had the opportunity to, maybe the time would come that he would seek to flee." — JOSH RUSSELL (@jruss_jruss) September 28, 2023 Mark Cohen, Bankman-Fried’s

The 2022–2023 crypto winter phase has not yet come to a conclusion. Assets like Shiba Inu have registered several minor recoveries. However, they have not been able to convert them into full-fledged rallies. Low trading volumes and deficient liquidity have been the primary reasons for the price stagnation. Over the past 24 hours, nevertheless, the crypto market has seen an influx of buyers. SHIB managed to appreciate by 2% and climb up by a rank on the market cap front. In this article, however, we will focus on the long-term outlook of SHIB rather than its short-term prospects. Also Read: 2 Shiba Inu Investors Earn 113,824% Profit and Become Millionaires How Much Will SHIB be Worth in 2030? Investors can expect Shiba Inu’s long-term state of affairs to improve with time. As far as the price front is concerned, SHIB could end up fetching up to 10x returns for its investors in just a few years. Source: The Coin Republic Also Read: Shiba Inu: How Much ‘Percent’ Must SHIB Rise

Ethereum’s $10 Billion Revenue Milestone Outpaces Tech Giants; Ethereum, the CRYPTOCURRENCY runner-up by market capitalization, recently celebrated a groundbreaking achievement: surpassing $10 billion in protocol revenue . In doing so, it raced ahead of tech behemoths Microsoft and Adobe . Caleb & Brown, a noted cryptocurrency brokerage, highlighted Ethereum’s impressive acceleration. It took Ethereum a mere 7.5 years to hit this revenue landmark, outpacing Microsoft and Adobe, which took 19 and 20 years, respectively. This revenue boon arose primarily from fees on transactional activities, encompassing decentralized finance (DeFi) app usage, ERC-20 token creation and trading, NFT dealings, and more. However, it wasn’t all rosy for Ethereum. Despite its accelerated growth, Ethereum’s annual revenue dipped over 77% from last year, reflecting the broader CRYPTOCURRENCY market downturn. As per Token Terminal, a crypto analytics entity, Ethereum’s 2023 earnings stand at $1.7 bill

A surprise triple-digit burn rate spike is lifting spirits in the Shiba Inu community amid the meme coin’s struggles to regain lost ground. Over 162 million SHIB were removed from circulation in the last 24 hours, offering a rare glimmer of hope following months of declining burns. Data from Shibburn showed the SHIB burn rate abruptly surged by 620% on Wednesday. More than 162,385,519 SHIB were permanently destroyed in under 24 hours. The unexpected flood of burns provides welcome relief to holders desperate for catalysts to reboot momentum. Also read: Shiba Inu: SHIB Digital ID All Set For October Debut Rise in Shiba Inu burn rate comes amidst slumping price The rise in burn rate comes even as Shiba Inu hovers near all-time lows after a punishing crypto winter. SHIB is down by 0.45% in the last 24 hours, and it remains crushed by nearly 91% from highs in the doldrums of a prolonged bear market.  But sustaining the momentum remains an uphill battle, with SHIB still

VeChain is currently trading at $0.016 and has been on a downward streak for the last six months. VET performed well in Q1 this year after it doubled in price, jumping from $0.015 to $0.032. After Q2, VeChain dipped relentlessly in the charts and is now back to its nine-month low in September. Supply chain-based cryptocurrency is now among the least-performing assets with little to no price action. Also Read: Shiba Inu Forecasted To Delete 2 ‘Zeroes’, Spike 1,500% & Hit $0.0001 So, will VeChain turn the tables in October 2023 next month? In this article, we will highlight how high VET could move in the charts in October. VeChain: How High Will VET Reach in October 2023? Source: Unsplash Leading on-chain metrics and price prediction firm CoinCodex painted a bearish picture for VeChain in October 2023. According to the price prediction, the maximum it could jump in price to next month is 5% from its current levels. The forecast claims that VeChain could reach $0.017 mid

$0.2 proves to be strong resistance for Stellar The US dollar’s strength is responsible for Stellar’s weakness Support in the triple bottom area might not hold if the market gets there The US dollar surged during the summer, putting pressure on equities and fiat currencies. It also pressured the cryptocurrency market, as a higher dollar pressured crypto prices to their lows.  One example is Stellar (XLM/USD). The bounce during summer to $0.2 seemed to be a reaction to a triple bottom formed earlier. However, it was just a spike in an otherwise bearish trend.  Bearish market rallies are violent and often lead traders to believe that a sharp reversal might be in the cards. But frequently, they are nothing but spikes.  In other words, for Stellar to keep rallying above $0.2, the dollar should give up its summer gains.  Stellar chart by TradingView How can the dollar turn bearish? In several ways.  One is that bond yields come down, and bond prices come

One altcoin project has pulled off a more than 240% rally this month and secured a listing by a leading crypto exchange platform. The Loom Network (LOOM) kicked off September trading at a low of $0.038 and 25 days later soared to a high of $0.13, a 242% percent increase. LOOM has since retraced slightly and is trading for $0.11 at time of writing. Amid the strong performance, leading global crypto exchange Gate.io announced this week it was listing LOOM for trading. The Loom Network is a multichain interoperability platform intended for scaling high-performance decentralized applications (DApps). The project has integrations into blockchain networks like Bitcoin (BTC), Ethereum (ETH) and Tron (TRX). LOOM is the token used to secure Loom Network’s mainnet, Basechain. Developers can also use the altcoin to pay for hosting their DApps on Basechain. Validators and delegators stake their LOOM tokens to protect the security of the network. Blockchain analytics plat

Worlcoin’s recent rally is generating significant interest among cryptocurrency users. WLD has gained about 80% in the past two weeks. Riyad Carey observed significant WLD buying activity on Binance in the past 24 hours. Worlcoin’s WLD token has embarked on an upward movement, generating significant interest among cryptocurrency users. The newly created crypto token has gained about 80% of its value in the past two weeks. Riyad Carey, a renowned crypto researcher, observed significant WLD buying activity on Binance in the past 24 hours and thinks it is a notable development for the novel blockchain token. $WLD rallying more than 5% on about $1mn worth of net buying on Binance in the past 6 hours pic.twitter.com/VjEv4S49Kc — Riyad Carey (@riyad_carey) September 25, 2023 Carey used data from Kaiko, the cryptocurrency data-providing platform, to analyze WLD’s recent behavior. The researcher shared a screenshot showing a net buying of about $1 million worth

In March 2023, OP Mainnet secured $160 million for development. However, after five months, its performance has not met expectations, with its price dropping by almost 50% since the fundraising. Meanwhile, its competitors, such as Everlodge, are steady in the bear market. In the presale, ELDG is up 80%, drawing investor interest. Exploring Everlodge ELDG is up 80% in the ongoing presale, currently in stage 3. Everlodge introduces decentralized finance (defi) in the travel property market, offering a marketplace for fractional investments, from as low as $100, in luxury villas, hotels, and holiday homes.  Investors can buy ownership shares in properties through non-fungible tokens (NFTs) instead of purchasing entire properties. Multiple investors can co-own a single property. Moreover, no credit checks or extensive paperwork are required, making transactions swift and reducing barriers to entry. You might also like: Everlodge presale drawing Uniswap and Polkadot supporters

The US Commodity Futures Trading Commission (CFTC) has shut down Kalshi’s predictions market that enabled wagers on whether Republicans or Democrats would win a majority of Congressional seats, reasoning that such a predictions market would operate “contrary to the public interest.” This order continues a pattern of regulatory pressure on prediction markets. Throughout US history, almost all prediction markets that wade too far into the waters of politics or gambling ended up shuttering or fading into obscurity amid government intervention. In their new order, commissioners explained that the platform operated by KalshiEx LLC would permit unlawful betting. They also cast a dim view on many predictions markets based on election outcomes. The US Commodities Exchange Act (CEA) section 5c(c)(5)(C)(i) empowers the CFTC to determine that contracts in certain commodities “are contrary to the public interest if the contracts involve: (1) activity that is unlawful under any Federal or State

Dan Gambardello predicts that BTC’s dominance may aoon reach its peak for the current bear cycle. The analyst anticipates that ADA/BTC could rebound soon. Supporting his bullish prediction is the emergence of a bullish divergence on the daily chart for ADA/BTC. The cryptocurrency trader and analyst Dan Gambardello predicted that the market dominance for Bitcoin (BTC) may reach its peak in the coming few weeks, potentially giving altcoins such as Cardano (ADA) the chance to rally. At the base of his prediction is the fact that ADA was resting on a medium-term positive trend line that had formed on the ADA/BTC daily chart. Daily chart for ADA/BTC (Source: TradingView) Despite his prediction, Gambardello did warn that BTC’s dominance could continue to rise to above 60% if history repeats itself. Consequently, ADA may drop another 50+% on the ADA/BTC chart, which is aligned with what other analysts anticipate and technical indicators suggest, according to Gamb

Berlin, Germany, September 25th, 2023, Chainwire   Hydranet, known for its expertise in off-chain trading, just released the Hydranet DEX, a Layer 3 trading platform that integrates multiple off-chain protocols to enable trustless, cost-effective and near-instant cross-chain trading. The Hydranet DEX made its official debut as a mainnet beta on September 23, 2023, following more than a year of dedicated development. The release signifies a major milestone in the project’s history, whose future promises even more groundbreaking developments. I am really proud of us. We have evolved from a small project to a currently #700 mature DeFi project with a great 2023/24 roadmap ahead. – Joe Park, project manager of Hydranet Hydranet presents their DEX as a Layer 3 trading platform that connects the Bitcoin and Ethereum ecosystems (including all off-chain compatible Ethereum Virtual Machine (EVM) networks), allowing users to trade seamlessly between them. By their use o

A wallet linked to Vitalik Buterin deposited around 400 ETH on Coinbase a couple of hours ago. At the press time price of $1579.46, the value of the transferred Ether summed up to $631,840. The exact reason behind the latest transfer remained unknown. According to on-chain data from Etherscan, the “Vb 2” wallet transferred ETH to another address, which subsequently transferred the ETH to Coinbase. Chinese journalist Colin Wu pointed out that in the past 7 days, the Ethereum Co-Founder transferred 300 ETH to Kraken, and 200 ETH was converted to USDC. Source: Etherscan Also Read: Ethereum Drops to 14 Month Low Against Bitcoin: Dominance Dips to 18% At press time, the wallet had a balance of 0.00021 ETH , worth a meager $0.34. Apart from Ether, this address had no other token holding. Contrarily, the address labeled “Vb 2” had more than 201 tokens in possession, worth $191,210, while the Ethereum balance stood over $2.7 million. Around a month ago, the ETH co-founder indulged i

MarketAcross, a global blockchain marketing firm, has partnered with Japanese Web3 specialist Turingum to expand its market reach and drive blockchain adoption . Fostering Web3 business growth  Turingum aims to gain access to international companies through MarketAcross and expand its global footprint. In contrast, MarketAcross expects to strengthen its presence in the Japanese blockchain landscape by reaching a broader clientele. The deal is expected to be a win-win scenario that promises brand visibility and new avenues for client acquisition. You might also like: Nomura launches Bitcoin adoption fund for institutional investors Empowering Web3 businesses One of the key aspects of this partnership is the support it offers to businesses looking to navigate the Web3 landscape. Turingum, with its expertise in tokenomics, defi solutions, and innovative contract development, is well-positioned to provide essential insights and tools for effective Web3 strategies. Japanese f

A crypto casino that has seen its native asset skyrocket by over 400% in the last three months is shutting down its trading platform. In a new thread on the social media platform X, crypto gambling platform Rollbit (RLB) says that it’s closing down its Degen EXchange trading platform due to “regulatory uncertainty and low adoption.” “Due to regulatory uncertainty and low adoption, we’ve decided to sunset ‘Degen EXchange’ for now. Any holdings from Degen EXchange can be sold or withdrawn, but buying third-party assets has been disabled. RLB functionality is unaffected and RLB can be bought and sold as before.” Furthermore, Rollbit says that its sister site, Rollbot.com, is set to be decommissioned as well while adding that the closures will not change the company’s core products. “Our sister site, Rollbot.com, is also being decommissioned. The site is now withdrawal-only, with limited functionality for existing accounts. It’s important to note that these are