Cryptonews

Our economist anticipates that volatility shall persist until the august U.S. Federal Reserve pronounces its next decree, where a rate cut remains but partially whispered in the valuations. Even should the markets stumble further in the short term, Mr. Krüger insists with a confident air that the broader bull cycle remains unshaken. He assures us, with a smirk, that this downturn is but a culling of the faint-hearted, not a collapse of the structure itself. 🌪️

Stablecoins have taken the world by storm, and their adoption has hit peak levels in Venezuela, an economy that’s been more distressing than a bad haircut. The local and international press have reported an increasing adoption of stablecoins, especially USDT, as a tool for managing devaluation indices that make your head spin.

An observer, wise in the subtle art of market omens, notes your plight: a bearish divergence that’s been slowly unfurling like ivy for weeks on end. In plain words, while your ascent has been somewhat admirable, the momentum behind it has been wilting like morning dew. Such was the scene at the brink of 2020 to 2021, when you faced a divergence of equal size. Those were not mere warnings, but a prelude to a sorrowful descent of 60 percent, spanning torturous months.

So, you’ve probably heard that Trump’s World Liberty Financial token (WLFI) has made its grand debut, landing itself comfortably in the 26th spot among the world’s largest cryptocurrencies. And just when you thought it couldn’t get any more exciting, South Korea has decided to join the global crypto information sharing party. 🎉

After the market’s little temper tantrum, Ethereum closed August at around $4,390 – which is basically the highest monthly close since November 2021. Fancy, right? But then, as if it remembered it had bills to pay, ETH dropped to $4,250 – a 14% nosedive from its all-time high of nearly $5,000. It’s like binge-watching a show only to realize the season finale got canceled.

Ethereum started climbing back up after scraping $4,220. Like Bitcoin, just quieter. It nailed tight ropes at $4,280 and $4,320 like a pro artist. 🎨

On the first of September, a date as arbitrary as the whims of fate, Myriad proclaimed its ascent. Not merely content with $10 million in USDC trading volume, it has also birthed 5.4 million predictions, lured 511,000 souls into its fold, and seen its browser extension installed 60,000 times. A veritable orgy of numbers, each one screaming, “Behold, the future is ours!” 🤡

According to a CryptoQuant post by XWIN Research Japan, Bitcoin’s Delta Cap-a fancy term for “the floor is *literally* here”-is rising like a well-caffeinated barista. This long-term valuation model has been BTC’s emotional support floor since 2018, and right now, it’s chilling at $739.4 billion. Yes, BTC is currently trading below it, but if it sneezes its way to $120k, it’ll be back on the top bunk of the Delta Cap bunk bed. 💪

This sudden popularity comes after Tron did the equivalent of a Black Friday sale – slashing network fees by 60%. Because nothing says “we’re confident in our product” like drastically cutting prices. The TRX price did rise 115% over the past year, but let’s be real – in crypto that just means it went from “terrible” to “not completely terrible.”

“Hashrate”-a term fueling many a miner’s daydreams-measures the Herculean number of calculations performed per second across the blockchain universe. This awe-inspiring metric, measured in hashes per second-more practically in exahashes-serves as the digital muscle car that signals ‘Miner Power!’ when it revs up. When the Hashrate climbs, it shouts, “We’re expanding!” When it dips, it’s more like a sigh, hinting that some miners, perhaps disillusioned or just exhausted, are hanging up their mining hats, mumbling about electricity costs and profit margins. A chart from Blockchain.com? Oh yes, a lovely picture of this chaotic ballet-see below: