Robinhood introduces crypto transfers to European clients

Posted on October 2, 2024October 2, 2024 by Olumide Adesina

Robinhood, a United States-based trading firm revealed that its cryptocurrency division, Robinhood Crypto, had begun accepting deposits and withdrawals from European clients.

This much-awaited addition would enable users to work with over 20 different cryptocurrencies. A one-time 1% deposit match is available.

In addition to remittances, the platform provides zero-fee bitcoin trading, huge USDC payouts, and staking Solana. Customers in Europe who qualify can now make cryptocurrency transfers.

Customers can deposit and withdraw over 20 cryptocurrencies using crypto transfers, offering them more flexibility and control over their digital assets. These cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USD coin (USDC), and more.

“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” said Johann Kerbrat, vice president and general manager of Robinhood Crypto. The company’s dedication to giving clients greater control over their digital assets is reflected in this advancement.

Additionally, Robinhood highlighted how dependable their service is. According to Kerbrat, deposit and withdrawal support allows users more control over their cryptocurrency holdings while still receiving the same secure, affordable, and dependable service they expect from Robinhood.

Bitcoin Drops, Losses 7% as Israel-Iran Conflict Spooks Market: Back to $60,000?

Posted on October 2, 2024 by Dalmas Ngetich

Bitcoin, like most crypto assets yesterday, registered losses, extending losses from Monday. With the coin down, prices are now below the immediate local support level at around $62,000 and may fall to $60,000 in a bear trend continuation formation. Overall, the trend shift is evident and may allow sellers to double down, pushing the coin lower in a retracement. While there are concerns driven by the escalation in the Middle East, the path of least resistance remains northwards, at least looking at price action in the daily chart. The September bull bar will shape the short to medium-term price trajectory.

Presently, Bitcoin is clearly under pressure and struggling. It is down 4% in 24 hours, pushing weekly losses to around 3%. Notably clear is the spike in engagement, rising to over $50 billion in the previous trading day. The expansion means the sell-off is supported, and may spill over to today if there are no counters, preventing the dump.

Traders are monitoring the following trending Bitcoin news:

Metaplanet, the public company in Japan, has added to its BTC stash, buying nearly $10 million worth of the coin yesterday.
Despite concerns about the Israel and Iran escalation, rising global liquidity and the safe haven status of Bitcoin give it an edge. For this reason, the coin’s valuation could rise, even with the weak start of Q4 2024.

Bitcoin Price Analysis

[[BTC/USD]] is down at spot rates.

When writing, sellers are in control.

Looking at the candlestick arrangement in the daily chart, traders can consider shorts, targeting $60,000 and $56,500.

However, for this outlook to change, a reversal above $66,000 could signal trend continuation. In that case, there will be grounds for Bitcoin to retest $70,000.

Technically, as long as BTC is inside the September trade range, buyers stand a chance.

Ethereum Slips As Tron Dominates: Will ETH Drop To $2,100?

Posted on October 2, 2024 by Dalmas Ngetich

Ethereum is down when writing, sliding from last week’s highs as sellers step on. With the drop, the coin is angling to retest $2,400, the immediate local support. Despite recent losses, hope exists for the second most valuable coin. Every low might be an opportunity as long as prices are inside the September trade range. There will be more confidence if bulls maintain $2,400. Still, if there is an unexpected spike above $2,800, ETH can easily lift off, soaring above $3,000. How ETH performs directly depends on whether BTC recovers and the general crypto market sentiment improves.

With ETH down, sentiment is worsening, as seen in the analysis from CoinMarketCap. Over 70% of traders are bearish on the second most valuable coin, and nearly 30% expect a recovery. There is a chance that contrarian action will occur. For now, sellers are in control, pushing the coin down 5% in the previous week. At the same time, the average trading volume is at around $23 billion—rising.

Traders are looking at the following Ethereum news:

The drop in network activity now means Tron has generated nearly 2X fees than Ethereum in the past three months. During this period, the Justin Sun-led network generated $567 million in fees versus $253 million in Ethereum.
In the past two weeks, Ethereum DEX volume has spiked by 17%, helping push gas fees higher. The more there is activity and movement, ETH might benefit.

Ethereum Price Analysis

[[ETH/USD]] is under immense selling pressure at press time.

Even though there are pockets of buying pressure, Ethereum could slip even lower.

As it is, the immediate resistance will be $2,800, while support remains at $2,400.

Every low above $2,400 offers opportunities for buyers to consider.

However, if sellers of early this week press on, Ethereum might crumble and drop to $2,100.

Further losses below August lows could open the second most valuable coin to $1,800.

Binance set up ‘risk warning’ tag on altcoins

Posted on October 2, 2024 by Olumide Adesina

The world’s largest exchange by trading volume announced on October 1 that some digital assets on its platform, Binance will be implementing a new “risk warning” banner and pop-up message.

Notably, Binance has designated ten tokens as having a “risk warning” moving ahead, including Enjin Coin, Chiliz, and IOTA (IOTA). Enjin Cash

This tag will also be present on Binance for the coins of the following projects: Vanar Chain, Self Chain, Solar, Orion, Lisk, Metal DAO, Travala, and Solar.

Chiliz changed the CHZ token’s annual inflation rate, as part of an update to its Tokenomics earlier this year.
Binance has worked to strengthen its risk management and compliance protocols. The exchange’s disclosures early this year about the monitoring tag attached to some coins align with this most recent step.

The exchange has partially changed its strategy because of these steps, following a regulatory crackdown that resulted in a $4.3 billion settlement with US authorities in 2023. The United States Securities and Exchange Commission is also suing Binance.

While the world’s largest crypto exchange by trading volume already applies a monitoring tag to tokens with heightened volatility, in an announcement that it is taking this step in response to community feedback.

The warning specifically aims to alert users that the specified token has experienced notable changes in terms of Tokenomics, will appear as a pop-up notification and banner for each currency.

The supply and Tokenomics of these tokens changed in the last 18 months. Binance will warn projects in the future that alter their Tokenomics significantly to increase supply.

XRP Down but above $0.55 as Bitwise Files for a Spot Ripple ETF

Posted on October 2, 2024 by Dalmas Ngetich

XRP is down, following Bitcoin and other top altcoins. Although there is weakness across the board, mainly from worsening geopolitical developments in the Middle East, the XRP uptrend remains. This will only change if there is a concerning dip below $0.55 that will likely trigger a liquidation. In that event, the uptrend will be punctured and the coin could slip towards $0.50 in retest, mirroring losses of August.

Unless there is a dip below $0.55, the uptrend remains. Accordingly, traders can consider loading the dips. As it is, XRP is down 4% in the past day but up 3% in the previous week at the back of expanding trading volume currently at over $2.8 billion on the last day.

Traders are closely watching out for the following trending news:

Bitwise, a crypto asset manager, has reportedly filed for a spot in XRP ETF. This is massive and came after the formation of a Grayscale XRP Trust. If this application is approved, it will be massive for XRP and trigger a bull run, further clarifying that the coin is a commodity.
The XRP open interest is up, reaching over $1 billion—a show of interest from traders. If this increases, it could drive more liquidity to the coin.

XRP Price Analysis

[[XRP/USD]] is under pressure at spot rates.

After the dump on October 1, the local support is between $0.55 and $0.57.

If breached, the probability of XRP sliding to $0.50 will be in. Looking at the chart, this will be a bear breakout formation, especially if the drop is due to an expanding volume.

As it is, aggressive traders can choose to load the dip.

Every dip above $0.55 may be an opportunity to consider longs, targeting $0.66.

If prices recover, winding losses of the last two days, Ripple buyers might expand, breaking above July highs.

Forex Signals Brief October 1: Is a Softer Eurozone CPI Priced In?

Posted on October 1, 2024September 30, 2024 by Skerdian Meta

Yesterday started with a round of economic data from China, most of which showed further economic slowdown, such as the Caixin services and manufacturing PMI figures. That didn’t deter risk asset buyers as the Chinese stimulus kept driving markets. EUR/USD retested 1.12 again despite softer German and Italian CPI inflation numbers for September, which indicate lower Eurozone inflation later today. But buyers couldn’t hold the price above 1.12 and eventually this pair fell 1 cent lower during the US session. Continue reading “Forex Signals Brief October 1: Is a Softer Eurozone CPI Priced In?” →

Bitcoin Dumps 4% But Will BTC Drop From or Break $66,000?

Posted on October 1, 2024 by Dalmas Ngetich

Bitcoin is down at press time following losses of September 30. The world’s most valuable coin is now below the resistance zone of between $65,000 and $66,000. If bears press on today, extending losses, then the probability of BTC slipping below $62,000 will be elevated. The primary support zone is around the $58,000 and $60,000 zone. Buyers have a chance should prices remain in the September 2024 trade range. On the other hand, a breakout lifting the coin above $66,000 will be a huge boost for aggressive traders angling for $70,000 or better.

In the short term, traders are optimistic despite the sell-off. Even though prices fell slightly on the last day, the coin remains above $60,000. The retracement from the local resistance means Bitcoin is down nearly 4% in 24 hours. At the same time, the average trading volume is up, reaching $35 billion in the previous day.

The following trending Bitcoin news events are worth watching:

Bitcoin is retracing at spot rates. However, the uptrend will be solid if the coin bounces, recovering and breaking above $66,000. Trackers show that if BTC breaks $70,000, over $1.6 billion of leveraged shorts will be liquidated.
In September, the coin defied historical performance to register gains. By yesterday’s close, BTC had shaken off early September losses to add a decent 7%–the best over the years.

Bitcoin Price Analysis

[[BTC/USD]] is weak when writing.

The retracement has a double bear formation printing.

Aggressive traders can choose to ride the trend, shorting since the bar had decent, above-average trading volume.

The immediate stop can be at September highs, at around $66,500.

If sellers press on, BTC might slip back to $60,000.

Conservative, risk-off traders can wait for a close above $66,000 and September highs before considering longs. When this happens, Bitcoin can easily rise to $70,000.

Ethereum Weak, 70% Of ETH Holders Are Bearish: Back To $2,100?

Posted on October 1, 2024 by Dalmas Ngetich

Ethereum is weak at spot rates, aligning with Bitcoin, looking at the candlestick arrangement in the daily chart. Although traders are upbeat, expecting prices to race higher in the coming days, the failure of bulls to breach $2,800 is a concern. In the short term, the local support is $2,400 but will change if there is a flash drop below this loading zone. For now, fundamentals will play a big role. The influx of capital to DeFi and spot Ethereum ETFs might spark confidence, lifting demand and confirming gains of September 2024.

The second most valuable coin is bearish from a top-down preview. Even though there are hints of strength, the short-term favors bulls. As mentioned earlier, this requires ETH to breach $2,800, reversing losses of the past day. If this happens, engagement will also increase, pushing gains above $16 billion.

Traders are closely monitoring the following Ethereum news:

As ETH struggles for momentum, the more traders are convinced the coin lacks what it takes to swing higher. Sentiment analysis shows that over 70% of traders expect prices to drop.
The Ethereum Foundation, known for exiting at swing tops, is unloading. Yesterday, they sold 100 ETH. In 2024 alone, they have sold over 3,760 ETH. Their decision to actively sell is a source of concern among holders.

Ethereum Price Analysis

[[ETH/USD]] is under pressure at press time.

The local resistance is at around $2,800, while support is at $2,400.

Because Ethereum is inside the September range and immediate support, traders can consider longs. The first target would be $3,000.

Conversely, if the weakness of the past three days spills over, forcing ETH below $2,400, the second most valuable coin may retest August lows.

XRP Is Down But Broke From July Highs: Are Bulls Preparing For $1?

Posted on October 1, 2024 by Dalmas Ngetich

XRP ended September and Q3 2024 strongly. After fears in August and September, the bounce of the past month has seen the coin surge above $0.55 to as high as $0.66. All the same, the seventh most valuable coin cooled off yesterday, sliding from $0.66. What’s needed is a firm close above $0.66 for trend continuation. Before then, traders might consider loading on dips if prices remain above $0.55. Technical candlestick arrangement could see XRP rally back to $0.74 in a buy trend continuation formation.

The coin fell back from swing highs, visible in the daily chart. Even though XRP is down, it is up over 6% over the last week of trading. At the same time, the average trading volume is up, standing at $1.6 billion.

XRP and Ripple holders are closely watching out for the following news events:

After the drop to as low as $0.38 in August, XRP turned around and soared by a decent 21%. The uptick saw the average engagement level and open interest across exchanges rise, pointing to trader interest.
Ripple, the blockchain company, has confirmed that its stablecoin, RLUSD, is still in private beta. Although there might be movements on-chain, the token, tested on Ethereum and the XRP Ledger, is not yet available.

XRP Price Analysis

[[XRP/USD]] is firm, even with the dip on September 30.

Every low above $0.55, technical candlestick arrangement shows, may permit traders to consider longs, targeting $0.66 and $0.74.

A decent, high-volume close above $0.66 could mark the start of a fresh leg, perhaps even above 2024 highs and $1.

Notice that the uptrend momentum is strong, and prices are banding along the upper BB—a net positive.

At the same time, the September 29 breakout was bullish, lifting XRP above the July range.

Since the leg up was with rising volume, the odds of the coin printing higher highs remain elevated.

Trump announces Whitelist for New World Liberty Financial Crypto Project

Posted on October 1, 2024 by Olumide Adesina

Former President Donald Trump declared that qualified people can join the World Liberty Financial (WLF) whitelist. Speaking to his 91 million fans on X, he described it as their “opportunity to participate in this momentous occasion.”

According to the World Liberty Financial website, the Trump family decentralized finance (defi) project’s know-your-customer (KYC) process has begun. The Trump defi project, which will include a currency named the WLFI token and have 63% of it available to the public under the U.S. Securities and Exchange Commission’s Regulation D guidelines, was first detailed in mid-September.

On Sept. 30, Trump reached out to his X fans, announcing that WLF whitelisting had begun. “This time, with cryptocurrency, I’ll make America great again,” declared Trump. “[World Liberty Financial] intends to assist in establishing America as the global center of cryptocurrency! Officially, the whitelist for qualified individuals is now open; here is your opportunity on this momentous occasion.”

Website visitors are instructed to start the KYC procedure after selecting whether they live in the United States or abroad. To be verified, users must connect their Web3 wallet, which acts as their KYC identifier.

Access to further details about WLF is restricted to those who successfully fulfill the KYC procedure. According to national surveys and prediction markets, Trump and Democratic nominee Kamala Harris for president in 2024 are now in a close battle. Trump stated that he became interested in cryptocurrency after starting his non-fungible token (NFT) initiative and noticed how many purchases people made with cryptocurrency.