Monat: September 2023

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Arbitrum among top gainers with 9%: Here’s the ARB price outlook

  • Arbitrum (ARB) price rose 9% this past week, trading to above $0.86.
  • Meanwhile, Toncoin (TON), Chainlink (LINK) and Aave (AAVE) saw double digit gains.
  • What next for ARB?

Arbitrum (ARB) is trading higher over the 24-hour timeframe, holding off bears around $0.84 with nearly 3% upside. Over the week, the cryptocurrency’s value is up 9%. That makes ARB among the top gainers this past week, with Toncoin (TON), Chainlink (LINK), ImmutableX (IMX) and Aave (AAVE) posting double digit gains to lead the top 50 coins by market cap. 

With Bitcoin looking to reclaim some joy above $26,600 and most altcoins showing resilience, could ARB break higher to target $1.00? Data shows the altcoin last traded at the psychological level on August 23.

Whale activity and recent ARB price

Arbitrum’s native token slipped to $0.74 on September 11, mirroring the broader market performance that also had Bitcoin sliding to below $25k. A nice uptick for ARB/USD had buyers poised at $0.90 on September 19 before widespread weakness had them revisit support around $0.80.

The positive outlook shows amid the latest bullish signals from whale activity and the crowd. According to data shared by on-chain analytics platform Lookonchain, one whale pointed to this perspective on Thursday with a 1.15 million ARB transfer from Binance. The value of the transaction was $952,000 at the time.

“This whale lost money on $ARB but seems still very bullish on $ARB, withdrawing 1.15M $ARB ($952K) again from #Binance in the past 2 days. The whale was long $ARB on #Aave on July 23, and as the price of $ARB decreased, he had to sell $ARB at a loss to pay off debt on Sept 11,” Lookonchain posted on X.

ARB price chart on TradingView

The price currently sits below the middle band of a rising channel on the 4-hour chart, with the 20-day EMA acting as support. The 4-hour RSI is also suggesting further resilience as it holds above the 50 mark.

If ARB breaks past the channel’s middle line (also where a key horizontal support-turned resistance line resides), at $0.87, bulls might target the supply zone above September highs. A demand reload zone could be around $0.74.

The post Arbitrum among top gainers with 9%: Here’s the ARB price outlook appeared first on CoinJournal.

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Bybit to suspend UK services due to regulatory changes

  • Bybit will stop new account registrations on October 1 and end pause deposits and other services for existing customers on October 8.
  • The exchange’s announcement comes ahead of the effective date for new FCA rules for crypto firms.

Bybit has notified its customers that it will suspend its services in the UK next month as it looks to align operations with new regulatory requirements.

According to the crypto exchange, the decision is “in light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses as outlined in the June 2023 Policy Statement (PS23/6) entitled “Financial Promotion Rules for Crypto assets.”

The suspension will allow the exchange to focus resources on meeting the new regulation, Bybit said in the announcement.

No new customer registrations beginning October 1

No new registrations will be allowed as from October 1, while services to existing customers will be halted on October 8. 

For current Bybit customers, the effective date will see them unable to make deposits, create new contracts, or increase positions. However, users will still be able to reduce or close positions as well as withdraw funds.

All UK customers have been asked to take the necessary steps to manage and wind down positions. The timeline for such action will run until January 8, 2024, 8:00 am UTC.

“After the stipulated deadline, their open positions will be liquidated, and the liquidation funds will be available for withdrawal,” the exchange noted.

Bybit’s move comes ahead of the October 8 deadline for companies to comply with the new UK marketing rules on ads and promotions. The requirement is that a crypto company must have regulatory approval from the Financial Conduct Authority (FCA) for it to support ads and other promotional materials.

At the moment, FCA’s crypto register does not include Dubai-based Bybit. The company recently scored a crypto exchange and custody licence in Cyprus. 

The post Bybit to suspend UK services due to regulatory changes appeared first on CoinJournal.

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Toncoin Skyrockets Over 40% to Join the Top 10 Cryptocurrencies: Which Coin Might Be the Next Big Mover?

Toncoin ($TON) has surged 150% from June 2023 lows and is now a Top 10 project, with a higher valuation than Solana ($SOL) and Tron ($TRX), and quickly turning out to be one of the best crypto investments. Looking at the market cap leaderboard, the token is closely trailing Dogecoin ($DOGE), and Cardano ($ADA) is within range. $TON is up over 30% in the past week of trading and there could be more upsides if bulls press on as they unwind losses of 2023.  

While Toncoin is getting all the attention lately, investors are also exploring emerging projects.Top of the list is eCash and Domini.art ($DOMI). eCash ($XEC) is a rebranded version of Bitcoin Cash ABC, a project with roots in Bitcoin Cash ($BCH) which in turn forked from Bitcoin —a top choice crypto for beginners. Meanwhile, Domini.art is being built from scratch and its creators aim to democratize the art world, providing more opportunities for investors and empowering artists while tapping on blockchain and non-fungible tokens (NFTs) capabilities.

In the ongoing presale, $DOMI is fast selling out and is set for double-digit gains in the next presale phase. This explains the rising demand, especially from crypto investors who are already tracking the unprecedented expansion of $TON.

Why is $TON rallying hard?

The spectacular rise of Toncoin ($TON) is drawing investors as seen by the exploding trading volume. 

Looking at market trackers, $TON is up 31% in the past trading week alone and quickly cementing its position in the top 10. The coin’s dominance is also helped by flat-lining DOGE and ADA prices. Over the past few months, ADA has been crashing and is now below the psychological $0.30 and bouncing from 2023 lows. On the other hand, Dogecoin is losing steam as attention shifts to emerging projects, including $PEPE.

$TON is rapidly gaining traction partly due to the improvement in crypto sentiment. $BTC, for instance, rejected lower lows, reversing from $25k to spot rates. This lifted $TON as investors began searching for quality projects to diversify to. Moreover, Telegram has integrated Tonchain, boosting $TON. 

Telegram is a popular messaging platform with over 700 million active users. With this deal, Telegram plans to launch a TON wallet in the coming weeks. Here, Telegram users will easily interact with the Tonchain ecosystem, even storing TON.

As $TON soars, analysts believe $DOMI and $XEC are next. Can this be true?

Why Domini.art and eCash are the next big projects after Tonchain

At time of writing, $XEC is up 16% from September lows but still under pressure. Riding on their objective to enhance payments, their growth, however, may not be as rapid as other altcoins, including $DOMI—which could be one of the altcoins to watch in September.

Domini.art is ambitious and its creators have laid down a clear roadmap to revolutionize the art world—an industry that can be used to store value in times of economic turmoil. To illustrate, statistics show that blue-chip artwork has been consistently outperforming S&P 500 by over 500% since 2000. And looking at the sale of Jean Michel Basquiat’s masterpiece for $110.5 million (initially purchased for $12k), it is clear why digitizing art and allowing everyone to participate can be lucrative.

Domini.art merges blue-chip art with blockchain, in effect, opening up the doors for global investors to not only invest but diversify their crypto portfolios and even trade on their marketplace. The platform anchors on the globally accessible Ethereum network, making it possible for anyone to participate.

By using non-fungible tokens (NFTs), artwork acquired is fractionalized and sold on the marketplace for all willing investors. $DOMI plays a key role in this and is used as the primary utility token. Holders receive multiple benefits, including access to rewards and events.

$DOMI is available for $0.002625 in the presale and over 37 million have so far been sold, days after launching.

Conclusion

While $TON roars, storming into the top 10, $XEC and especially $DOMI–the best NFT crypto–are highly likely to be the next big projects to surge. $DOMI is core to Domini.art and their value proposition means adopters who get exposure at spot rates can benefit massively once it launches. Analysts have suggested $DOMI could be a top-20 project by 2024.

Learn more about $DOMI here:

Visit Domini.art Presale | Join the Community

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