AltSignals Blog

Bitcoin traders are selling ahead of Jerome Powell’s anticipated speech and their reactions suggest a lack of confidence in a possible interest rate cut in September. The price of Bitcoin fell by 10%, reflecting the traders’ bearish outlook. Expectations are high that Powell may adopt a hawkish tone and need not signal an interest cut. Despite the current market conditions, some analysts believe the secular bull run for Bitcoin is not yet over.

Gemini teases plans for launching an XRP-branded Mastercard causing a stir in the XRP community. The article explores the potential effects of this development on XRP’s price downtrend, analyzes daily charts for XRP’s performance, and considers whether the launch can revive XRP’s momentum.

Ethereum nears all-time highs in transactions and active addresses, indicating increased network engagement and public companies acquiring ETH for their crypto treasuries. Despite the surge, gas usage remains moderate, while Ethereum’s DeFi ecosystem soars to $97 billion. The article also discusses unprecedented institutional inflows into Ethereum ETFs and the recent rise in ETH’s price influenced by institutional interest.

TAC, a protocol focused on the TON blockchain, has secured nearly $208 million in total value locked in just a month since its mainnet launch. Ethereum-based DeFi protocols have rapidly deployed on TAC, pushing its on-chain value 35% higher than TON’s current DeFi TVL. With integration into Telegram’s ecosystem, TAC brings Ethereum developers closer to TON users without the need for rewriting their applications. TAC’s growth has contributed to a rise in EVM-based DeFi’s share, indicating swift adoption.

The article discusses a report by Goldman Sachs on the potential impact of the expanding global stablecoin market on traditional finance. According to the analysis, there are minimal threats to payment and remittance services. The firm foresees a rise in USDC’s market share at the expense of Tether’s USDT. Insight is also offered into the projected roles of Visa, Mastercard and remittance players in the stablecoin market, and the future of Circle and Robinhood in the crypto space.

Bitcoin price dips to $112K while whales continue accumulation despite a cool-down in retail demand. Analysis reveals $112K as key support level with potential for deeper losses, even as larger holders see this as a profitable buying opportunity. On-chain signals hint towards an early BTC market reset. A significant push needs to be made for BTC to recover to $118K or risk falling to the $105K-$108K support zone.

Binance Australia has been ordered to hire an external auditor by AUSTRAC due to serious concerns over its Anti-Money Laundering and Counter-Terrorism Financing controls. The firm has 28 days to comply, amidst ongoing issues with high staff turnover and insufficient local resourcing and senior management supervision. The announcement continues Binance’s troubled history with regulatory bodies worldwide.

Global Dollar, a US-backed stablecoin, sees explosive growth with a market cap surpassing $500m, driven by its unique revenue-sharing model. With major firms like Robinhood, Kraken and others joining the Global Dollar Network, and Visa integrating USDG into its settlement platform, the stablecoin is witnessing increased institutional interest and adoption. Ranked 17th largest by DeFiLlama, USDG also has the highest growth rates among the top 50 stablecoins.

Solana’s solid bullish trend sees a continuation towards the $260 resistance, with the $162 mark serving as key support in the foreseeable future. Its weekly chart shows the asset posting consistent higher highs and higher lows. Experts predict that Solana could consolidate between the $162 support and high-value resistance before a decisive move upwards. Despite potential short-term pullbacks, Solana’s upright trend appears firmly in place.