Dubai Financial Services Authority (DFSA) Approves Ripple (XRP) for Dubai International Financial Center (DIFC) Use
The Dubai Financial Services Authority (DFSA) has approved the use of Ripple's cryptocurrency, XRP, within the Dubai International Financial Center (DIFC). This makes XRP the first virtual asset to be approved by the DFSA since it started accepting external applications. Licensed virtual asset firms operating within the DIFC will now be able to offer XRP in their services, alongside other approved assets like Bitcoin, Ethereum, and Litecoin. The approval of XRP is expected to provide legal and regulatory clarity in the DIFC and facilitate faster and more efficient global exchange of value. Ripple plans to hold a major event in Dubai on November 8-9, which aims to bring together the financial industry and regulators. The listing of XRP in Dubai has the potential to unlock new regional payment and virtual asset use cases on the XRP Ledger.
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The Dubai Financial Services Authority (DFSA) has approved the use of Ripple's cryptocurrency, XRP, within the Dubai International Financial Center (DIFC). This makes XRP the first virtual asset to be approved by the DFSA since it started accepting external applications. Licensed virtual asset firms operating within the DIFC will now be able to offer XRP in their services, alongside other approved assets like Bitcoin, Ethereum, and Litecoin. The approval of XRP is expected to provide legal and regulatory clarity in the DIFC and facilitate faster and more efficient global exchange of value. Ripple plans to hold a major event in Dubai on November 8-9, which aims to bring together the financial industry and regulators. The listing of XRP in Dubai has the potential to unlock new regional payment and virtual asset use cases on the XRP Ledger.
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Vitalik Buterin Dissects Evolving Landscape Of Ethereum Layer 2 Scaling Solutions
tldr; Ethereum co-founder Vitalik Buterin has provided an overview of the current state of Ethereum layer 2 scaling solutions. He expects the layer 2 landscape to remain diverse and heterogeneous going forward. Various solutions, such as EVM rollups, almost-EVMs, validiums, and sidechains, are being developed to bring greater capacity, lower costs, and increased security to the Ethereum ecosystem. Buterin highlights the need for different approaches depending on the use case and predicts that while rollups will serve as long-term solutions for decentralized finance and security-critical applications, alternative layer 2 technologies will also proliferate to meet the needs of gaming, social media, the Internet of Things, and more.
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tldr; Ethereum co-founder Vitalik Buterin has provided an overview of the current state of Ethereum layer 2 scaling solutions. He expects the layer 2 landscape to remain diverse and heterogeneous going forward. Various solutions, such as EVM rollups, almost-EVMs, validiums, and sidechains, are being developed to bring greater capacity, lower costs, and increased security to the Ethereum ecosystem. Buterin highlights the need for different approaches depending on the use case and predicts that while rollups will serve as long-term solutions for decentralized finance and security-critical applications, alternative layer 2 technologies will also proliferate to meet the needs of gaming, social media, the Internet of Things, and more.
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Ethereum Value Breaking This Confluence Resistance Might Spark Recent Surge
tldr; Ethereum value corrected decrease from the $1,875 zone and retested the $1,780 zone. It is now attempting to start a fresh surge and is trading near the 23.6% Fib retracement level. If it surpasses the $1,825 resistance, it could gradually increase and test $1,875. The next key resistance is near $1,920, and any further gains might lead to a move towards the $2,000 level. On the downside, initial support is near $1,780, and the next key support is $1,750. A break below $1,750 could spark a bearish wave.
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tldr; Ethereum value corrected decrease from the $1,875 zone and retested the $1,780 zone. It is now attempting to start a fresh surge and is trading near the 23.6% Fib retracement level. If it surpasses the $1,825 resistance, it could gradually increase and test $1,875. The next key resistance is near $1,920, and any further gains might lead to a move towards the $2,000 level. On the downside, initial support is near $1,780, and the next key support is $1,750. A break below $1,750 could spark a bearish wave.
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$DOGE analysis
The price of $DOGE has been unable to break through the $0.075 resistance area and has now fallen to trade below the $0.069-$0.070 level. If the price manages to rise above this level again, it may head back towards the $0.075-$0.0764 resistance area. However, it is not advisable to open new long positions at this time.
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The price of $DOGE has been unable to break through the $0.075 resistance area and has now fallen to trade below the $0.069-$0.070 level. If the price manages to rise above this level again, it may head back towards the $0.075-$0.0764 resistance area. However, it is not advisable to open new long positions at this time.
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$BTC Analysis
Bitcoin is again trying to break above the resistance area but is unable to go above it. Price is now trading in the range again. Overall, the market is still bullish.
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Bitcoin is again trying to break above the resistance area but is unable to go above it. Price is now trading in the range again. Overall, the market is still bullish.
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OpenSea Announces Major Downsizing and Shift Towards OpenSea 2.0
tldr; OpenSea, a leading NFT marketplace, is undergoing a major downsizing and shift towards a new direction called "OpenSea 2.0". The company is laying off half of its workforce to focus on product upgrades and improving technology, reliability, speed, quality, and user experience. OpenSea aims to rebuild and regain market share lost to other NFT platforms. Despite a decline in the demand for digital art collectibles, OpenSea is preparing to launch a revamped version of its marketplace. The layoffs highlight the volatile nature of the NFT market and the need for constant innovation and improvement.
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tldr; OpenSea, a leading NFT marketplace, is undergoing a major downsizing and shift towards a new direction called "OpenSea 2.0". The company is laying off half of its workforce to focus on product upgrades and improving technology, reliability, speed, quality, and user experience. OpenSea aims to rebuild and regain market share lost to other NFT platforms. Despite a decline in the demand for digital art collectibles, OpenSea is preparing to launch a revamped version of its marketplace. The layoffs highlight the volatile nature of the NFT market and the need for constant innovation and improvement.
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$4.5 trillion Fidelity says Bitcoin’s risk-reward is ‘in a different universe'
tldr; Fidelity Investments, one of the largest asset managers in the world, has published a risk-reward analysis on various assets, including Bitcoin. According to Fidelity's Director of Global Macro, Bitcoin's risk-reward is "in a different universe." The analysis shows that Bitcoin has a 60% annualized return over a 69 standard deviation for annualized volatility, making it a highly profitable and volatile asset. This analysis puts Bitcoin in a league of its own compared to other financial assets.
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tldr; Fidelity Investments, one of the largest asset managers in the world, has published a risk-reward analysis on various assets, including Bitcoin. According to Fidelity's Director of Global Macro, Bitcoin's risk-reward is "in a different universe." The analysis shows that Bitcoin has a 60% annualized return over a 69 standard deviation for annualized volatility, making it a highly profitable and volatile asset. This analysis puts Bitcoin in a league of its own compared to other financial assets.
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$BTC Analysis
BTC Daily Technical Outlook: $BTC closed indecisively and we should see more volatility although we need healthy candles to determine the next lead. I’ll focus on the intraday chart formation to get another scalp once our current trade is secured.
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BTC Daily Technical Outlook: $BTC closed indecisively and we should see more volatility although we need healthy candles to determine the next lead. I’ll focus on the intraday chart formation to get another scalp once our current trade is secured.
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ETH Analysis
ETH Daily Technical Outlook: $ETH closed green and it should be pushing much higher from its current location. Ethereum should be following both ETHBTC and Bitcoin. I’ll look for a scalp opportunity from the intraday chart.
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ETH Daily Technical Outlook: $ETH closed green and it should be pushing much higher from its current location. Ethereum should be following both ETHBTC and Bitcoin. I’ll look for a scalp opportunity from the intraday chart.
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Bitfinex suffered 'minor' phishing attack, will notify affected users
tldr; Bitfinex disclosed a "minor" information security incident where a hacker gained access to some customer support system data. The hacker phished a customer support with limited access to supporting tools and helpdesk tickets. However, no core systems were breached, and user funds were unaffected. Bitfinex plans to notify affected users, although most of the affected accounts were empty or inactive. The company will also collaborate with law enforcement to track down the attacker.
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tldr; Bitfinex disclosed a "minor" information security incident where a hacker gained access to some customer support system data. The hacker phished a customer support with limited access to supporting tools and helpdesk tickets. However, no core systems were breached, and user funds were unaffected. Bitfinex plans to notify affected users, although most of the affected accounts were empty or inactive. The company will also collaborate with law enforcement to track down the attacker.
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Postmortem of Monero CCS Hack: A Transaction Graph Analysis
tldr; On September 1st, 2023, an attacker stole 2675.73 XMR from the Monero CCS Wallet in nine transactions. Moonstone Research conducted an investigation to trace the movement of these funds. They were able to trace three of the attacker's transfers and found that one transaction, bb77d...d1a58, was most likely created by the attacker. They also identified two other transactions, 2c5b4...ad5ec and 06550...ca47b, that were likely involved in the movement of the stolen funds. Moonstone Research believes that the attacker is a Monerujo wallet user who had PocketChange enabled. They recommend that Monero exchanges and services check if they received any of the identified transactions.
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tldr; On September 1st, 2023, an attacker stole 2675.73 XMR from the Monero CCS Wallet in nine transactions. Moonstone Research conducted an investigation to trace the movement of these funds. They were able to trace three of the attacker's transfers and found that one transaction, bb77d...d1a58, was most likely created by the attacker. They also identified two other transactions, 2c5b4...ad5ec and 06550...ca47b, that were likely involved in the movement of the stolen funds. Moonstone Research believes that the attacker is a Monerujo wallet user who had PocketChange enabled. They recommend that Monero exchanges and services check if they received any of the identified transactions.
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$ROSE (Update)
ROSE/USDT Daily timeframe analysis.
We keep pushin higher +47% profit so far, price is going to retest Resistance level, expecting to brake through Resistance and going for Full target + 137%.
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ROSE/USDT Daily timeframe analysis.
We keep pushin higher +47% profit so far, price is going to retest Resistance level, expecting to brake through Resistance and going for Full target + 137%.
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BTC has appreciated +93% relative to gold in 2023, whilst ETH is up 39% in gold terms
tldr; The digital asset market continues to post impressive relative performance, with both BTC and ETH appreciating meaningfully against USD and gold. However, within the industry, Bitcoin dominance continues to rise, as indicated by several indicators and approaches for observing capital rotation.
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tldr; The digital asset market continues to post impressive relative performance, with both BTC and ETH appreciating meaningfully against USD and gold. However, within the industry, Bitcoin dominance continues to rise, as indicated by several indicators and approaches for observing capital rotation.
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Sen Lummis: SEC is 'overreaching' on crypto
tldr; Senator Cynthia Lummis is opposing the Securities and Exchange Commission's (SEC) crackdown on the cryptocurrency industry. She plans to block one of the agency's new crypto policies, which she believes is an example of overreach. The policy, known as "Staff Accounting Bulletin 121," requires financial firms to hold customers' crypto assets on their own balance sheets and warn investors about the risks. Lummis argues that this policy could harm consumers if a digital asset custodian were to collapse. She is working on legislation to provide more clarity and regulation for the crypto industry and hopes it will pass in early 2024. Lummis also supports the House Financial Service Committee's crypto framework and is collaborating with Committee Chair Patrick McHenry to move the stablecoin component of her bill forward. She emphasizes the need for a clear regulatory framework in the crypto industry.
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tldr; Senator Cynthia Lummis is opposing the Securities and Exchange Commission's (SEC) crackdown on the cryptocurrency industry. She plans to block one of the agency's new crypto policies, which she believes is an example of overreach. The policy, known as "Staff Accounting Bulletin 121," requires financial firms to hold customers' crypto assets on their own balance sheets and warn investors about the risks. Lummis argues that this policy could harm consumers if a digital asset custodian were to collapse. She is working on legislation to provide more clarity and regulation for the crypto industry and hopes it will pass in early 2024. Lummis also supports the House Financial Service Committee's crypto framework and is collaborating with Committee Chair Patrick McHenry to move the stablecoin component of her bill forward. She emphasizes the need for a clear regulatory framework in the crypto industry.
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