CryptoPotato News (Official)

Altcoin Volume Dominance Hits Two-Year High as Traders Pour $135B Into the Market • Altcoins have surged in trading activity and market capitalization, gaining significant attention as Bitcoin rose nearly 25% over the past week, indicating a renewed risk appetite among investors. • The total altcoin market capitalization increased by approximately $135 billion, with altcoins accounting for 65% of trading volume on Binance, marking the highest dominance in two years. • The 'Altcoin Impulse' reading reached 93%, suggesting widespread market participation, although analysts warn that such high levels may indicate potential exhaustion or a need for a market reset. https://cryptopotato.com/altcoin-volume-dominance-hits-two-year-high-as-traders-pour-135b-into-the-market/

Viral Altcoin RAIN Soars 20% Daily: What Fueled the Pump and What’s Next? • The cryptocurrency market experienced minor losses today, except for Rain (RAIN), which surged by 20% to reach an all-time high of nearly $0.02, driven by a $108 million token burn as requested by the community. • Rain Protocol's recent listing on HyperliquidX, a decentralized exchange, and upcoming developments have contributed to its positive momentum, with analysts noting strong backing for the project. • Despite its recent success, concerns about potential short-term corrections persist due to high concentration of RAIN's supply, with the top 10 addresses holding nearly 90% of the tokens, increasing the risk of price manipulation. https://cryptopotato.com/viral-altcoin-rain-soars-20-daily-what-fueled-the-pump-and-whats-next/

Bitcoin Whales Have Moved $5B Into BlackRock’s IBIT: Here’s Why • BlackRock has facilitated over $5 billion in Bitcoin-for-ETF-share swaps into its IBIT fund by lowering the minimum transaction size from $25 million to $1 million. • The in-kind swaps allow investors to maintain Bitcoin exposure while benefiting from a regulated ETF structure, addressing security concerns related to self-custody. • Other firms like Bitwise and Grayscale are also adopting similar in-kind trading mechanisms, with Grayscale reporting that in-kind transactions now account for a significant portion of their Bitcoin and Ethereum creations. https://cryptopotato.com/bitcoin-whales-have-moved-5b-into-blackrocks-ibit-heres-why/

Will Bitcoin (BTC) Reach $100K This Quarter? Here’s What 3 AIs Predict • Bitcoin has surged nearly $20,000 in the past month, fueled by changes in US monetary policy and increased market optimism, with some users speculating it could reach $100,000 soon. • AI chatbots provide mixed predictions: ChatGPT estimates a 25%-30% chance of closing Q3 above $100K, while Perplexity sees potential if regulatory developments favor the crypto market, and Gemini predicts a maximum of $88,000 this quarter. • Some analysts caution that the recent price increase may be a bull trap, with predictions of a potential drop to as low as $40,000 due to market volatility and liquidity issues. https://cryptopotato.com/will-bitcoin-btc-reach-100k-this-quarter-heres-what-3-ais-predict/

Bitcoin Price Analysis: Is BTC’s Rally in Trouble After Failing to Reclaim $80K? • Bitcoin has recovered sharply from the $60K demand zone, breaking above key resistance levels and approaching the $80K area, although momentum shows signs of exhaustion. • The daily chart indicates a structural improvement, with BTC trading above the 100-day and 200-day moving averages, suggesting a shift from consolidation to a bullish trend, while the $72K-$74K zone may act as support during potential pullbacks. • On-chain analysis shows a positive shift in the adjusted SOPR, indicating that Bitcoin is being spent at a profit, which historically supports a transition to a healthier bullish market structure. https://cryptopotato.com/bitcoin-price-analysis-is-btcs-rally-in-trouble-after-failing-to-reclaim-80k/

Bitcoin Enters Early Stage of New Bull Cycle, Says CryptoQuant • Bitcoin (BTC) shows signs of entering a new bull market, with key indicators from CryptoQuant rising, although further confirmation is needed. • The cryptocurrency has surged approximately 24% since August 17, reaching $80,000, supported by US Treasury bond buyback plans and comments from President Trump. • Confirmation of the bull cycle requires a daily close above the 365-day moving average near $83,000, while potential selling pressure is indicated by high unrealized profits and increased exchange deposits. https://cryptopotato.com/bitcoin-enters-early-stage-of-new-bull-cycle-says-cryptoquant/

Cardano (ADA) Slips 6% in 24 Hours: Healthy Correction or the Return of the Bears? • Cardano's ADA token experienced a 22% increase over two weeks but faced a 6% decline recently, trading around $0.21. • Analysts are divided, with some predicting a potential drop to $0.164 while others anticipate a bullish trend if it consolidates above $0.25. • Optimistic forecasts suggest ADA could reach nearly $0.50 in the short term, indicating a shift into a bullish market phase. https://cryptopotato.com/cardano-ada-slips-6-in-24-hours-healthy-correction-or-the-return-of-the-bears/

Bitcoin (BTC) Rejected at $80K, Ripple’s XRP Plunges Hard as Rally Cools: Market Watch • Bitcoin surged to over $81,000 for the first time in 15 weeks but has since dropped by approximately $3,000, maintaining a weekly gain of over 22%. • Major altcoins like XRP and ZEC experienced significant declines, with XRP down 4.5% and ZEC dropping more than 7% despite the launch of Grayscale's ETF. • The total cryptocurrency market cap decreased by around $60 billion, now sitting at $2.740 trillion. https://cryptopotato.com/bitcoin-btc-rejected-at-80k-ripples-xrp-plunges-hard-as-rally-cools-market-watch/

Bitcoin Could Hit $90K – But This Major Test Comes First, Analysts Say • Bitcoin (BTC) fell below $80,000 due to profit-taking by holders, with nearly all investor groups currently in profit as the cryptocurrency approached this level. • The SOPR Ratio indicated that long-term holders were realizing profits at a higher rate, but it has since declined, suggesting short-term holders are performing better. • Analysts suggest that sustained demand and a breakout above $80,000 could lead to a price target of $88,000-$90,000, while a decline below $75,000-$76,000 could trigger further corrections. https://cryptopotato.com/bitcoin-could-hit-90k-but-this-major-test-comes-first-analysts-say/

Grayscale’s Zcash ETF Starts Trading on NYSE Arca With a 2.5% Sponsor Fee • Grayscale's Zcash ETF (ZCSH) began trading on NYSE Arca on August 25, offering the first spot exposure to Zcash (ZEC) with a 2.5% annual sponsor fee. • The fund's shares have seen a significant narrowing of their discount to net asset value, from 17% in June to just 1% by August 20. • ZEC is currently trading near an eight-year high, with a market capitalization of $13.2 billion, and features optional transaction privacy similar to Bitcoin. https://cryptopotato.com/grayscales-zcash-etf-starts-trading-on-nyse-arca-with-a-2-5-sponsor-fee/

Ripple (XRP) Just Posted a Huge Network Jump: Here’s the Level That Matters Now • XRP has surged to $1.76, stabilizing around $1.50, driven by a 654.71% increase in active addresses, indicating heightened network participation. • Analysts predict XRP could rise to $1.78, potentially reaching $2.57, while maintaining support above $1.65 to avoid retracement. • US-based spot XRP ETFs have seen significant inflows, totaling $18.38 million on Friday, marking the strongest activity since mid-May. https://cryptopotato.com/ripple-xrp-just-posted-a-huge-network-jump-heres-the-level-that-matters-now/

Dogecoin (DOGE) Rises 30% in a Week: What Are the Next Targets? • Dogecoin (DOGE) has surged nearly 30% in a week, reaching close to $0.09 and solidifying its position as the largest meme coin with a market cap nearing $14 billion. • Analysts have mixed predictions for DOGE's future, with some expecting modest gains while others foresee potential highs of $3 or even $10, despite the latter requiring an unrealistic market cap increase. • Recent trading patterns indicate a tightening of Bollinger Bands, suggesting a possible major price movement ahead, though increased exchange inflows may signal short-term selling pressure. https://cryptopotato.com/dogecoin-doge-rises-30-in-a-week-what-are-the-next-targets/

Gemini Signs Apex Letter of Intent to Bring Crypto Event Contracts to Brokerages • Gemini has signed a non-binding letter of intent with Apex Fintech Solutions to make its subsidiary, Gemini Titan, the exclusive regulated venue for crypto event contracts, distributed through Apex's futures commission merchant. • The arrangement allows brokerages to use Gemini for execution and clearing of these contracts, with potential collaboration on various market contracts, while both firms are working to finalize details. • Gemini's prediction market arm faces legal challenges, as New York Attorney General Letitia James has sued it and Coinbase for allegedly operating unlicensed gambling without state approval. https://cryptopotato.com/gemini-signs-apex-letter-of-intent-to-bring-crypto-event-contracts-to-brokerages/

Cosmos Labs Urges EVM Chains to Halt as KiiChain and TAC Attacks Raise Security Fears • Cosmos Labs has advised affected networks to suspend operations due to a security incident involving the EVM module, with KiiChain, TAC, and MANTRA reporting vulnerabilities in the infrastructure. • KiiChain experienced a significant attack that drained over 148 million KII tokens, identifying the vulnerability in the shared Cosmos EVM module, which also impacted other chains like MANTRA and TAC. • Both KiiChain and TAC halted their networks to prevent further exploitation, while MANTRA temporarily paused operations, later confirming no user funds were compromised after addressing the threat. https://cryptopotato.com/cosmos-labs-urges-evm-chains-to-halt-as-kiichain-and-tac-attacks-raise-security-fears/

Bitcoin’s Massive Breakout: Here’s Why Analysts Say This Rally Is Different • Bitcoin surged nearly 24% to close near $77,700, breaking a multi-month range despite historically weak August performance. • The rally was fueled by increased liquidity from the U.S. Treasury's bond buyback program and significant Bitcoin short position liquidations, alongside strong ETF inflows. • On-chain activity indicates caution, with low transfer volumes and potential resistance levels ahead, while corporate Bitcoin activity remains subdued. https://cryptopotato.com/bitcoins-massive-breakout-heres-why-analysts-say-this-rally-is-different/

280 Years in Prison Looms for Las Vegas Businessman in Crypto Case • Brent C. Kovar was convicted of defrauding 400 investors out of $24 million through his company Profit Connect, which falsely claimed to use AI for profitable crypto mining. • Kovar misled investors with promises of high returns and a money-back guarantee, while using their funds for personal expenses and to cover losses. • Separately, Japheth Dillman was convicted of wire fraud for defrauding over 20 investors of nearly $1 million through false claims about a crypto trading fund, facing up to 20 years in prison. https://cryptopotato.com/280-years-in-prison-looms-for-las-vegas-businessman-in-crypto-case/

Ethereum Price Analysis: What Are ETH’s Key Levels After the Breakout? • Ethereum has broken out from a multi-week consolidation, trading just below $2.5K after reclaiming key resistance levels, indicating a significant structural improvement. • The price is currently testing a major resistance zone between $2.45K and $2.5K, with a sustained breakout above this area potentially leading to a target of around $3.3K. • The Ethereum Coinbase Premium Index remains predominantly negative, suggesting weak US spot demand despite the price rally, and a decisive positive shift in this index could confirm the breakout's strength. https://cryptopotato.com/ethereum-price-analysis-what-are-eths-key-levels-after-the-breakout/

Ripple Price Analysis: Has XRP Run Out of Steam After the $1.70 Rejection? • XRP has recovered sharply from the $1.00 area, breaking above key resistance levels, but is now facing critical resistance around $1.50, which will determine its next move. • The XRP/USDT pair has reclaimed the 100-day and 200-day moving averages, with a potential breakout above $1.50 targeting $1.80-$1.90, while a drop below $1.30 could signal a deeper correction. • In the XRP/BTC pair, a failed breakout attempt has led to a retracement towards the 200-day moving average, with the next move dependent on whether it can hold above this support level. https://cryptopotato.com/ripple-price-analysis-has-xrp-run-out-of-steam-after-the-1-70-rejection/

Solana (SOL) Climbs to a 6-Month High: The Start of a Mega Rally or a Bull Trap? • Solana (SOL) has surged approximately 32% over the past week, reclaiming the $100 level and solidifying its position as the seventh-largest cryptocurrency with a market cap nearing $60 billion. • Rising institutional interest, particularly in spot SOL ETFs, has contributed to this growth, with inflows exceeding $33 million in the last 24 hours. • Despite the bullish sentiment, indicators like the overbought Relative Strength Index (RSI) and increased exchange netflows suggest a potential short-term correction may be imminent. https://cryptopotato.com/solana-sol-climbs-to-a-6-month-high-the-start-of-a-mega-rally-or-a-bull-trap/

Arthur Hayes Predicts More Dollar Liquidity that Could Push Bitcoin’s Rally Further • Arthur Hayes believes Bitcoin has entered a new bull market due to anticipated dollar liquidity increases from US Treasury Secretary Scott Bessent's strategies. • Hayes argues that when liquidity is injected to control Treasury yields, Bitcoin and other risk assets typically benefit, as seen during Janet Yellen's tenure. • He predicts Bessent will likely implement smaller, more frequent buybacks to increase liquidity, potentially leading to further Bitcoin price rallies, despite recent fluctuations. https://cryptopotato.com/arthur-hayes-predicts-more-dollar-liquidity-that-could-push-bitcoins-rally-further/