The Essential Weekly Crypto Briefing
Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  â [CoinMarketCap Logo](~/AAQRxQA~/RgRo2PYrP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPXBjbjBuMWtjMWd1a1cDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) 27 Sep 2024 08:45 UTC CMC Market Pulse:
The Essential Weekly Crypto Briefing Welcome to this weekâs CMC Market Pulse newsletter! We'll serve up a concentrated dose of alpha that cuts right to the chase in under 5 minutes. No fluff - just straight facts and analysis on the crypto markets. Let's dive into this week's action! â TL;DR: - Bitcoin rallies on the back of rate cuts, gaining 2.3% in a single week. Will this momentum continue? ð
- Ethereum breaks its six-month downtrend, soaring 3.6% this week. Whatâs fueling the rise? ð
- Vice President Kamala Harris pledges to push the US toward blockchain dominance. How will this impact the market? ðï¸
- Visa launches VTAP, enabling tokenized fiat and commodity trading. Will this spark mass adoption? ð³ â MARKET OVERVIEW ð [Bitcoin] Bitcoin
$65,663.08
--------------------------------------------------------------- % CHANGE 7D ▲3.83% 30D ▲10.93% [Ethereum] Ethereum
$2,666.96
--------------------------------------------------------------- % CHANGE 7D ▲4.8% 30D ▲8.21% This week saw a major rally in the crypto market as Fed rate cuts and bullish political promises sparked optimism. Bitcoin (BTC) saw a 2.3% rise, while Ethereum (ETH) jumped by 3.6%, potentially marking the end of a long downtrend. However, elevated funding rates persist, with BTC and ETH at 8.5% and 9.8% respectively. Despite the positive price action, longs are feeling the pressure as daily liquidations remain around $70 million. - Visa enters the tokenized asset space with VTAP, allowing banks to launch fiat-based tokens on Ethereum
- BingX exchange hacked, losing over $26 million in various altcoins Why Does It Matter? As funding rates remain elevated, the marketâs upward trajectory could face resistance. But with election season heating up and further Fed rate cuts expected, crypto bulls are eyeing a promising future. Total crypto market capitalization is on the rise, and Bitcoin dominance has slipped to 53.2%, suggesting altcoins may be ready for a breakout. [Read the full story!](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD1zODd6bzUzN25hdXBXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â NARRATIVE OF THE WEEK ð° Kamala Harris and Donald Trump weigh in on crypto: - Kamala Harris promises to support blockchain innovation and make the US a leader in digital assets if elected
- Trump pays for a bar tab using Bitcoinâs lightning network, becoming the first president to use Bitcoin for a transaction Why Does It Matter? Both political leaders are making moves that could drastically impact the future of crypto. Harrisâs focus on blockchain innovation may drive investment, while Trumpâs embrace of Bitcoin could fuel broader adoption across the US. [Read the full story!](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD1kZTFmcHJ4azBiOWZXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â MAJOR PROJECT UPDATES ðï¸ - Bittensor (TAO) achieves distributed AI training breakthrough, paving the way for EVM smart contract support
- MANTRA's mainnet is launching in October 2024, set to become the go-to ledger for real-world assets
- Cardano's first gold-backed token, Kinka Gold, is launching soon. This project is supported by Emurgo and a major Japanese financial company Why Does It Matter? These updates suggest real progress is being made on projects that promise to revolutionize various sectors. Bittensor and MANTRA are making waves in AI and RWAs, while Cardano is gaining momentum with new real-world asset backing. [Learn more here.](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD0xbWd1MHo3d3A5OG1XA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â DEFI SECTOR UPDATE ð¦ - Bitcoin smart contract L2 network, Stacks, prepares for a hard fork in October, promising better DeFi functionality
- Core, a Bitcoin-secured blockchain, sees record TVL growth, largely driven by Colend Protocol
- Ethena plans to launch a new stablecoin backed by BlackRockâs tokenized BUIDL fund on Ethereum Why Does It Matter? Bitcoin DeFi is finally getting the attention it deserves. Platforms like Stacks and Core are enhancing Bitcoin's utility, while Ethenaâs partnership with BlackRock signals the next wave of stablecoin innovation. [Check it out here.](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD1heWt2NWRsYmd2bzBXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â MEME COIN MADNESS ð Price 24H% [Dogecoin] [Dogecoin](~/AAQRxQA~/RgRo2PYrP0QuaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2RvZ2Vjb2luL1cDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) $0.12 ▲8.25% [Shiba Inu] [Shiba Inu](~/AAQRxQA~/RgRo2PYrP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL3NoaWJhLWludS9XA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) $0.0 ▲15.31% [Pepe] [Pepe](~/AAQRxQA~/RgRo2PYrP0QqaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL3BlcGUvVwNzcGNCCmb0LHH2Zi5iYExSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) $0.0 ▲17.55% [dogwifhat] [dogwifhat](~/AAQRxQA~/RgRo2PYrP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2RvZ3dpZmhhdC9XA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) $2.37 ▲7.72% [FLOKI] [FLOKI](~/AAQRxQA~/RgRo2PYrP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2Zsb2tpLWludS9XA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) $0.0 ▲15.83% - Popcat (POPCAT) breaks the $1 billion market cap barrier, up 14% in the last 7 days
- Neiro (NEIRO) is up 2,800% after its Binance listing, becoming one of the best-performing tokens of the month [Read more.](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD1wbDl3ZzJvaWl2azBXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â VC FUNDRAISES AND AIRDROPS ð° - Initia raises $14M at a $350M valuation to build an interwoven rollup network
- AminoChain secures $5M in seed funding, marking a16zâs first investment in decentralized science (DeSci)
- Celestia raises $100M to further develop its modular data availability layer
- EigenLayer announces airdrop season 2, with trading set to begin September 30
- Hamster Kombat bans over 2.3 million cheaters ahead of the $HMSTR airdrop
- LayerZero has ended the claim for its Season 1 airdrop [Check out the full list of fundraisers and airdrops here.](~/AAQRxQA~/RgRo2PYrP0RxaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvY21jLW1hcmtldC1wdWxzZS1wb2xpdGljYWwtdGFpbHdpbmRzLWZ1ZWwtY3J5cHRvLXJhbGx5P2xpZD05MXp6enBqYXVuajRXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) â Thank you for reading this weekâs edition of CMC Market Pulse. Stay informed, stay secure, and weâll see you next week for more insights! â [Apple Store](~/AAQRxQA~/RgRo2PYrP0Q6aHR0cHM6Ly9hcHBzLmFwcGxlLmNvbS9hcHAvY29pbm1hcmtldGNhcC9pZDEyODIxMDcwOTg_bHM9MVcDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Google Play](~/AAQRxQA~/RgRo2PYrP0RQaHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS5jb2lubWFya2V0Y2FwLmFuZHJvaWQmaGw9ZW5fVVNXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Twitter](~/AAQRxQA~/RgRo2PYrP0QyaHR0cHM6Ly90d2l0dGVyLmNvbS9Db2luTWFya2V0Q2FwP2xpZD1iN2I5YTdmMWo3cGdXA3NwY0IKZvQscfZmLmJgTFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Telegram](~/AAQRxQA~/RgRo2PYrP0QraHR0cHM6Ly90Lm1lL0NvaW5NYXJrZXRDYXA_bGlkPWRpcW1vY21id21kY1cDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Facebook](~/AAQRxQA~/RgRo2PYrP0Q3aHR0cHM6Ly93d3cuZmFjZWJvb2suY29tL0NvaW5NYXJrZXRDYXA_bGlkPWtlNXdhZGhmNDhuOFcDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Instagram](~/AAQRxQA~/RgRo2PYrP0Q5aHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9jb2lubWFya2V0Y2FwLz9saWQ9czNwZHkyam9kcXJkVwNzcGNCCmb0LHH2Zi5iYExSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [LinkedIn](~/AAQRxQA~/RgRo2PYrP0RAaHR0cHM6Ly93d3cubGlua2VkaW4uY29tL2NvbXBhbnkvY29pbm1hcmtldGNhcC8_bGlkPXFlb2JoNnk4ZnFqY1cDc3BjQgpm9Cxx9mYuYmBMUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) DISCLAIMER: Please be aware that CoinMarketCap is NOT a cryptocurrency exchange and does NOT facilitate the buying, selling, withdrawal or trading of crypto/token assets. The Portfolio feature is for tracking purposes only and does NOT act as a cryptocurrency wallet. You were sent this email because you subscribed to CoinMarketCap. To update your email preferences, [click here](~/AAQRxQA~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~). To unsubscribe from all CoinMarketCap emails, [click here](~/AAQRxQA~/RgRo2PYrP4TCAWh0dHBzOi8vMDUuZW1haWxpbmJvdW5kcHJvY2Vzc2luZy5jb20vZW5jX3VzZXIvdW5zdWJzY3JpYmU_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~). © 2024 Coin Market Cap Ltd
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