CryptoBuzzPosts 🐝

AI Can Best Google’s Bot Detection System, Swiss Researchers Find 🐝 ~ ~ Researchers at ETH Zurich have successfully cracked Google’s reCAPTCHA v2, a widely-used CAPTCHA system aimed at distinguishing humans from bots, using advanced machine learning techniques. They achieved a 100% success rate in solving the captchas with a number of attempts similar to humans. This breakthrough, published on Sept. 13, raises alarms about the effectiveness of image-based captchas, as bots become increasingly capable of bypassing these security measures. Experts warn that CAPTCHA technology may need to evolve rapidly to counteract AI advancements, or it risks becoming obsolete, potentially leading to significant issues for online services and advertisers. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin (BTC) Golden Cross Coming, Ethereum (ETH) Reclaims Bullish Trend, Binance Coin (BNB) Breaks 65-Day Resistance 🐝 ~ ~ Bitcoin is nearing a golden cross, seen as a bullish sign with its 50-day moving average set to cross above the 200-day. Currently priced around $62,000, it must overcome a psychological barrier at $65,000 to rally further, needing renewed market enthusiasm. For Ethereum, which trades above the 50-day EMA at about $2,646, a potential pullback to $2,600 appears probable due to declining trading volume. Meanwhile, Binance Coin (BNB) has breached a 65-day resistance at $600 but struggles to maintain momentum, currently at $602, with subsequent support around $585 to sustain its bullish trend. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin Price Targets Higher Levels: Can the Momentum Hold? 🐝 ~ ~ Bitcoin’s price is rising above $63,800, with potential gains if it breaks through the $64,750 resistance zone and $65,000. After initiating an increase from $62,500, BTC surpassed several resistance levels and hit a high of $64,770 before correcting. Currently, it remains above $63,800 and the 100-hourly moving average. If Bitcoin overcomes $65,000, it may test $65,500 and $66,800. Conversely, failure to breach $64,750 could lead to a decline, with immediate support near $63,750 and major support at $62,500. Technical indicators show bullish momentum in the MACD and an RSI above 50. @CryptoBuzzPosts 🐝 ~ ~

Ahead of today’s Congressional hearing on SEC oversight, Republicans urged Gensler to repeal SAB 121 🐝 ~ ~ More than 40 Republican lawmakers have urged the U.S. Securities and Exchange Commission (SEC) to repeal a controversial rule known as Staff Accounting Bulletin No. 121 (SAB 121), which affects banks dealing with cryptocurrencies. SAB 121, issued in April 2022, designates crypto custody as high-risk, requiring banks to report cryptocurrencies as liabilities on their balance sheets. Lawmakers, including House Financial Services Committee Chairman Patrick McHenry and Senator Cynthia Lummis, argue this rule hinders consumer protection and innovation by discouraging banks from providing crypto services. Previous repeal attempts were blocked by President Biden, but recent developments suggest potential easing of restrictions. @CryptoBuzzPosts 🐝 ~ ~

BlackRock Ethereum ETF Options Decision Postponed By US SEC 🐝 ~ ~ The SEC has delayed its decision on a proposal for Nasdaq ISE LLC to list options on the BlackRock-managed iShares Ethereum Trust, initially expected by September 26, now rescheduled for November 10, 2024. This extension allows the SEC further evaluation of the proposal, potentially opening new avenues in the Ethereum options market. Meanwhile, the spot Ethereum ETF market is seeing declines, with significant outflows, particularly from Grayscale’s ETHE, contrasting with the burgeoning interest in Bitcoin ETFs following the SEC’s recent approval of options for BlackRock’s Bitcoin ETF. @CryptoBuzzPosts 🐝 ~ ~

Polymarket sees surge in daily volume and users amid token launch speculation 🐝 ~ ~ Polymarket, a Polygon-based prediction market, saw a 57.5% surge in daily trading volume on September 23, driven by speculation about a potential token launch following a $50 million funding round. The platform recorded 12,468 active users that day, nearly reaching its all-time high. Monthly user counts are at a record 67,130, though trading volume is at $411.4 million, below August’s near $473 million. Most activity is tied to U.S. presidential elections, comprising 85.1% of the volume. Historically, election-related bets dominate Polymarket’s trading activity, indicating sustained interest in political outcomes. @CryptoBuzzPosts 🐝 ~ ~

Solana devs weigh proposal to juice validator revenue 🐝 ~ ~ Anza engineer Tao Zhu proposed a change to the Solana protocol in Solana Improvement Document (SIMD) 0172 to optimize block space usage by modifying the “compute budget” program. This program, which limits transaction computational resources to 200,000 compute units (CUs), is seen as inefficient. Zhu suggests gradually lowering this default to zero CUs over ten epochs, requiring users to request precise compute amounts and potentially allowing more transactions per block. However, some developers criticize the proposal, arguing it complicates the process and suggesting moving the compute budget to transaction headers instead. Concerns linger about the proposal’s implications for developers. @CryptoBuzzPosts 🐝 ~ ~

Solana, Google Cloud Push Web3 Gaming Frontier With GameShift 🐝 ~ ~ Google Cloud has partnered with Solana Labs to enhance Web3 gaming through the launch of GameShift, a suite of tools available on the Google Cloud Marketplace. Announced at Solana Breakpoint, GameShift enables traditional game developers to easily integrate Web3 features like NFTs and digital assets into their games. This collaboration signifies Google’s growing support for Web3 technology, complementing existing projects like the Blockchain Node Engine. Additionally, Solana is showcasing recent innovations, including new products at Token2049, while gaining traction among traditional finance institutions. Despite positive developments, Solana’s token, SOL, has seen modest gains recently. @CryptoBuzzPosts 🐝 ~ ~

S&P 500 Index Reaches New Intraday High Click to see more

Diddy Goes From ‘Freak-Offs’ to Sharing Jail Unit With Sam Bankman-Fried: NBC 🐝 ~ ~ Sean “Diddy” Combs and crypto mogul Sam Bankman-Fried are reportedly sharing a jail unit at the Metropolitan Detention Center in Brooklyn. Combs faces serious charges, including racketeering conspiracy and sex trafficking, for allegedly coercing women into participating in sex parties. A judge denied his $50 million bail request, and he remains imprisoned until his trial. Meanwhile, Bankman-Fried is serving a 25-year sentence for his role in the FTX collapse and faces ongoing legal challenges regarding his trial. The two high-profile inmates are currently housed in a barrack-style space designed for 18-20 inmates. @CryptoBuzzPosts 🐝 ~ ~

CEO Teng Reveals Jaw-Dropping All-Time High 🐝 ~ ~ Binance has achieved a remarkable milestone, with CEO Richard Teng announcing total trading volume surpassing $100 trillion. This achievement places Binance well ahead of major financial benchmarks, such as the S&P 500’s market capitalization, solidifying its dominance in the crypto market. Founded in 2017 by Changpeng Zhao, Binance rapidly grew through its user-friendly platform and effective capital utilization. Despite facing challenges like a major hack, regulatory scrutiny, and the arrest of its founder, Binance continues to thrive, currently averaging $13 billion in trading volume—eight times more than its nearest competitor. @CryptoBuzzPosts 🐝 ~ ~

Ethereum(ETH) Drops Below 2,600 USDT with a 2.61% Decrease in 24 Hours Click to see more

Bitcoin(BTC) Drops Below 63,000 USDT with a 0.98% Decrease in 24 Hours Click to see more

Dogecoin Parabolic Rally To Trigger 5,500% Surge To $6, Here’s When 🐝 ~ ~ A crypto analyst predicts Dogecoin (DOGE) may soon rally to unprecedented highs, potentially surpassing $1 and reaching $2, a 1,760% increase, following a completed accumulation phase. The analyst, TradingShot, highlights a bullish trend signified by a crossing of moving averages, indicating readiness for a parabolic rally reminiscent of Dogecoin’s 2021 surge. In an optimistic scenario, DOGE could even rise to $6, dependent on new developments or adoption. This forecast suggests a peak around August 2025, marking an exciting potential for DOGE investors with just 11 months to await these projected advancements. @CryptoBuzzPosts 🐝 ~ ~

BlackRock IBIT Sees $6 Million Pre-Market Trading Volume Click to see more

Bitcoin set for potential breakout this week 🐝 ~ ~ Bitcoin may be poised for a new all-time high if it breaks out of its reaccumulation phase, according to trader Rekt Capital. Historically, Bitcoin exits this phase 154 to 161 days after a halving event, with the latest halving occurring 157 days ago. In previous cycles (2016 and 2020), Bitcoin broke out after similar timelines. Despite September usually being a bearish month, Bitcoin has risen 9.8% this September, marking its best performance in over a decade. Institutional interest, particularly from Bitcoin ETF issuers, is expected to further drive demand and tighten supply, potentially boosting prices. @CryptoBuzzPosts 🐝 ~ ~

Binance Listing Triggers Over 20% Gains In This P2E Token 🐝 ~ ~ Binance has boosted the League of Kingdoms Arena (LOKA) P2E crypto project’s market sentiment by announcing futures trading support, leading to a nearly 20% price surge for LOKA. Following the announcement, trading volume increased by 155%. Binance introduced the LOKAUSDT perpetual contract with features like up to 75x leverage and a funding rate capped at ±2.00%. The contract may undergo changes due to market conditions. LOKA is a blockchain-based MMO strategy game, allowing players to earn through in-game participation. The futures trading announcement parallels price increases seen in other tokens, validating LOKA’s gains. @CryptoBuzzPosts 🐝 ~ ~

Ethereum price surge lifts Lido TVL by 10% despite 26k ETH withdrawals 🐝 ~ ~ Lido Finance’s total value locked (TVL) rose by 10.83% to $25.18 billion, driven by an increase in Ethereum’s token price. However, 26,528 ETH was unstaked, indicating some users withdrew assets. The seven-day APR for staked Ether (stETH) climbed to 3.17% amid heightened Ethereum network activity, boosting staking rewards. Trading volume for stETH and wrapped stETH (wstETH) surged 27.49% to $920.29 million, reflecting increased liquidity. Bridged wstETH saw a 2.04% decline, particularly on BNB Chain (-31.46%). Stability remained in lending and restaking protocols, while liquidity pools dropped by 22.22%, highlighting shifting user strategies in DeFi. @CryptoBuzzPosts 🐝 ~ ~

Binance Market Update (2024-09-24) Click to see more

Coinbase, SEC present case to appeals court in petition for rulemaking case 🐝 ~ ~ Coinbase is challenging the SEC in the US Court of Appeals after its rulemaking petition was rejected. Coinbase claims the SEC has not provided clear guidelines for the cryptocurrency sector, despite urging firms to register. Chief Legal Officer Paul Grewal criticized the SEC for an arbitrary enforcement approach, arguing that existing regulations inadequately address digital assets. The SEC countered that its rules apply to all securities, including digital tokens. This legal battle is separate from ongoing litigation where the SEC accused Coinbase of operating as an unregistered broker and exchange, listing 13 cryptocurrencies as securities. @CryptoBuzzPosts 🐝 ~ ~