CryptoPotato News (Official)

Crypto.com Gets Green Light to Bring Single-Stock Futures to the US • Crypto.com is set to launch single-stock futures in the US after receiving SEC acknowledgment for a filing from Nadex, with plans to use its OG.com platform. • CEO Kris Marszalek confirmed collaboration with the SEC and CFTC, emphasizing the potential for traders to engage in futures contracts linked to individual stocks. • Other platforms like Kalshi and Coinbase are also pursuing regulatory approval for single-stock perpetual futures, indicating a trend of newer firms entering markets traditionally held by established financial institutions. https://cryptopotato.com/crypto-com-gets-green-light-to-bring-single-stock-futures-to-the-us/

Charles Hoskinson: Crypto Will Eat AI as the Data Center Boom Goes Dark • Charles Hoskinson believes the cryptocurrency industry will provide essential solutions for AI, including payment systems, data ownership, and provenance, as the current AI data center spending is unsustainable. • He predicts that AI will eventually embrace blockchain technology, similar to how cryptography accepted cryptocurrency, due to the need for shared rules and tracking of data usage. • Hoskinson forecasts that regulatory progress, particularly the CLARITY Act, will be stalled until 2029, attributing this to past political missteps and a lack of urgency among Democrats. https://cryptopotato.com/charles-hoskinson-crypto-will-eat-ai-as-the-data-center-boom-goes-dark/

Zcash (ZEC) Soars to a Fresh 10-Year Peak: Further Gains Ahead or Time to Cool Off? • Zcash (ZEC) has surged to a 10-year high, briefly reaching $1,400 before settling at $1,330, driven by a governance update that reduced block-target spacing. • The rally has caused significant losses for traders with short positions, while analysts remain optimistic about further gains, predicting potential prices between $1,500 and $2,000. • Indicators suggest a possible correction, with increased exchange inflows indicating selling pressure and ZEC's Relative Strength Index showing overbought conditions. https://cryptopotato.com/zcash-zec-soars-to-a-fresh-10-year-peak-further-gains-ahead-or-time-to-cool-off/

From Bear to Bull: Analyst Says Bitcoin UTXO Data Points to a Cycle Shift • Bitcoin's share of addresses at a loss has significantly decreased, suggesting a potential end to the bear market, according to on-chain analyst Crypto Dan. • Despite recent macro events like a Fed rate hike and the stalled CLARITY Act, Bitcoin has maintained a trading range above $71,300, indicating resilience in the market. • Analysts note that the muted market reaction to negative news signals a shift in sentiment, with some suggesting that the bear market may be over as traders adapt to unfavorable conditions. https://cryptopotato.com/from-bear-to-bull-analyst-says-bitcoin-utxo-data-points-to-a-cycle-shift/

Vitalik Buterin Has a Different Take on AI Hackers and the Future of Cybersecurity • Vitalik Buterin argues that concerns about AI-powered hacking undermining cybersecurity are overstated, suggesting that proper systems and stronger verification tools can enhance security. • He emphasizes the importance of making security definitions more human-readable to address various security concerns effectively, allowing for better verification processes. • Buterin believes that modern AI can improve resilience in code, advocating for a proactive approach to security rather than relying on the detection of vulnerabilities by "good guys." https://cryptopotato.com/vitalik-buterin-has-a-different-take-on-ai-hackers-and-the-future-of-cybersecurity/

Bitcoin Price Prediction: Is BTC About to Break Above $80K or Crash Below $72K? • Bitcoin remains resilient around $76.7K despite the Federal Reserve's 25 basis point rate hike, maintaining its broader bullish structure above key support levels. • The daily RSI indicates a reset of bullish momentum, while the 4-hour chart shows a short-term downtrend with potential resistance at $80.5K-$82.3K. • The Coinbase Premium Index is negative, suggesting weak U.S. spot demand and caution in the market, despite Bitcoin's ability to withstand macro pressures. https://cryptopotato.com/bitcoin-price-prediction-is-btc-about-to-break-80k-or-crash-below-72k/

Arc Blockchain Explained: Everything You Need to Know About Circle’s Layer 1 • Arc is a purpose-built, EVM-compatible Layer 1 blockchain developed by Circle, specifically designed for stablecoin finance and backed by major financial institutions. • It addresses key issues in existing blockchain infrastructure, such as volatile gas costs and unpredictable settlement times, by offering USDC-denominated gas fees and deterministic sub-second finality. • Arc complements Circle's existing products and aims to enhance the stablecoin economy by providing tailored blockchain infrastructure for payments, foreign exchange, and tokenized assets. https://cryptopotato.com/what-is-circle-arc-blockchain/

SEC Opens Door to Onchain Stock Trading With New ‘Innovation Exemption’ • The SEC has launched an "Innovation Exemption" to enable secondary trading of tokenized stocks on blockchain platforms, allowing Tokenized Securities Venues (TSVs) temporary relief from being classified as exchanges. • Tokenized shares must maintain the same rights as traditional stocks, with limitations on trading volumes and available securities, and smart contracts must be auditable on public blockchains. • SEC Chairman Paul Atkins emphasized that this exemption is a preliminary step, inviting public feedback as the Commission evaluates future regulations for onchain trading. https://cryptopotato.com/sec-opens-door-to-onchain-stock-trading-with-new-innovation-exemption/

Ethereum’s Path to $3,000: All Eyes on This Level Now • Ethereum (ETH) has experienced volatility, dropping below $2,500, but analysts predict a potential rally towards $3,000 and beyond. • Key analyst Ali Martinez identifies a critical price level at $2,570, suggesting a strong close above this could lead to significant upward movement. • Despite a positive outlook due to declining ETH supply on exchanges and whale accumulation, concerns about overbought conditions and waning institutional interest may pose risks. https://cryptopotato.com/ethereums-path-to-3000-all-eyes-on-this-level-now/

Seven Democrats Refuse to Give Up on CLARITY Act After Senate Setback • The US Senate's procedural vote on the Digital Asset Market Clarity Act failed, with a result of 49-50, falling short of the required 60 votes. • Seven Democratic senators expressed their commitment to continue working on bipartisan crypto legislation despite the setback, emphasizing the importance of regulatory clarity and consumer protection. • Industry reactions varied, with some calling for continued discussions and others noting that institutional participation in the crypto market may be delayed due to the legislative failure. https://cryptopotato.com/seven-democrats-refuse-to-give-up-on-clarity-act-after-senate-setback/

XRP Open Interest Plunges 23% as Traders Unwind Leverage • XRP's open interest in major derivatives platforms has decreased by 23% in under a month, dropping from $1.128 billion to approximately $871 million, indicating traders are unwinding leverage rather than betting against the token. • The decline is largely attributed to Binance, Bybit, and OKX, with significant reductions in open positions, reflecting a repositioning of traders rather than a definitive bearish trend. • XRP's price has fallen 8% following regulatory challenges, currently around $1.30, and is being closely monitored for support levels between $1.24 and $1.26, with potential further declines if these levels fail. https://cryptopotato.com/xrp-open-interest-plunges-23-as-traders-unwind-leverage/

Bitcoin (BTC) Reacts to Fed Rate Hike: Analysts Split on What Comes Next • Bitcoin experienced volatility following the US Federal Reserve's 25 basis point interest rate hike, briefly dropping below $75,000 before recovering to around $76,400. • Analysts are divided on future price movements, with some like Doctor Profit maintaining a bullish outlook while others, like Ali Martinez, prepare for potential sell-offs. • The focus for traders now shifts to future Fed policy and economic indicators, as expectations around inflation and rate hikes will significantly influence Bitcoin's direction. https://cryptopotato.com/bitcoin-btc-reacts-to-fed-rate-hike-analysts-split-on-what-comes-next/

Bitcoin Survives First Fed Rate Hike in 3 Years, Zcash Explodes Again: Market Watch • Bitcoin is currently trading above $76,000 after experiencing significant volatility surrounding the recent FOMC meeting and the first rate hike in three years. • Altcoins are performing well, with ZEC surging over 14% to trade above $1,350, while SOL approaches $100 and Ethereum sees a slight increase. • The total cryptocurrency market cap has risen by over 1% to $2.610 trillion, reflecting positive momentum across various digital assets. https://cryptopotato.com/bitcoin-survives-first-fed-rate-hike-in-3-years-zcash-explodes-again-market-watch/

XRP’s 70% Breakout Had a Warning Sign: 85 Millionaire Wallets Moved First • XRP experienced a 70% rally, with 85 new wallets holding at least 1 million tokens appearing just before the surge, indicating strong buying interest from larger investors. • Ripple is enhancing its XRP Ledger ecosystem with investments in fintech and AI, while the RLUSD credit fund adds utility and institutional tokenization to XRP's narrative. • Despite recent gains, XRP faced a significant drop after the Senate's failure to advance the CLARITY Act, with analysts warning of potential further declines if key support levels are breached. https://cryptopotato.com/xrps-70-breakout-had-a-warning-sign-85-millionaire-wallets-moved-first/

Analyst Says This Setup Could Send Bitcoin Above $90K by November • Trader Matthew Hyland predicts Bitcoin prices could exceed $90,000 by early November, citing a bullish divergence at a daily cycle low, despite current trading around $76,000. • While Hyland remains optimistic, other analysts express bearish sentiments, with expectations of a potential drop to the $70K-$72K range before any reversal. • Bitcoin's recent price decline follows the Senate's failure to advance the CLARITY Act, leading to significant capitulation among short-term holders, with over 23,000 BTC sent to exchanges at a loss. https://cryptopotato.com/analyst-says-this-setup-could-send-bitcoin-above-90k-by-november/

Solana (SOL) Correction or Short-Lived Dip? Here’s Why Bulls Aren’t Giving Up • Solana is maintaining a significant support level despite a recent price drop from over $101 to under $96, with 72 million SOL previously traded around this area. • Institutional demand is increasing, with US spot SOL ETFs seeing nine weeks of net inflows totaling over $200 million, while exchange supply has decreased by over 3 million SOL. • Network activity remains strong, with Solana adding approximately 10.8 million new addresses daily and a total value locked (TVL) rising over 18% to about $5.7 billion. https://cryptopotato.com/solana-sol-correction-or-short-lived-dip-heres-why-bulls-arent-giving-up/

Binance Unveils Multiple Delistings: Check Out the Affected Cryptocurrencies • Binance will delist several trading pairs, including ENJ/USDC and GENIUS/USDC, on September 18 due to insufficient liquidity and trading volume. • The delisting is not the primary cause of recent losses in these cryptocurrencies, which are more influenced by a broader market correction following the failure of the CLARITY Act. • Binance also issued a scam alert regarding phishing attacks targeting users, advising them to avoid clicking on suspicious links and to enhance their account security settings. https://cryptopotato.com/binance-unveils-multiple-delistings-check-out-the-affected-cryptocurrencies/

After CLARITY Setback, Armstrong Says ‘We Can’t Wait on Congress Anymore’ • The US Senate did not advance the Digital Asset Market Clarity Act, falling short of the required 60 votes, prompting Coinbase co-founder Brian Armstrong to express disappointment but hope for continued bipartisan discussions. • Armstrong emphasized that the SEC and CFTC already possess sufficient authority to establish clear crypto regulations, indicating that clarity in the industry is inevitable regardless of the bill's fate. • Ripple CEO Brad Garlinghouse criticized the failure as detrimental to the industry and consumers, attributing it to political dynamics while calling for a post-mortem and expressing optimism for future regulatory developments. https://cryptopotato.com/after-clarity-setback-armstrong-says-we-cant-wait-on-congress-anymore/

Breaking: Fed Raises Interest Rates by 25 Bps, Bitcoin Price Reacts • The US Federal Reserve raised the benchmark interest rates by 25 basis points for the first time in three years, bringing the target range to 3.75-4%. • The decision was unanimous and influenced by strong labor reports and recent inflation data. • Bitcoin's price surged to $76,500 following the announcement, indicating that the rate hike was anticipated by the market. https://cryptopotato.com/breaking-fed-raises-interest-rates-by-25-bps-bitcoin-price-reacts/

Robinhood Chain’s TVL Nears $1B, but Failed L1s Raise Sustainability Question • Four blue-chip layer-1 blockchains—Fantom, Aurora, Canto, and Songbird—have seen their total value locked (TVL) drop over 99%, raising concerns about the sustainability of Robinhood Chain. • Despite Robinhood Chain currently holding approximately $928 million in DeFi TVL and achieving high daily DEX volumes, questions remain about whether this growth can be sustained through future market cycles. • Crypto researcher Stacy Muur highlighted the stark contrast between Robinhood Chain's current performance and the steep declines experienced by the previously successful chains, prompting speculation about its long-term viability. https://cryptopotato.com/robinhood-chains-tvl-nears-1b-but-failed-l1s-raise-sustainability-question/