The cryptocurrency market is having difficulty finding direction due to the influence of contrary winds. The market, which was exhilarated by Grayscale’s SEC victory, gave back its gains after the SEC postponed its spot Bitcoin ETF decisions. However, altcoin projects continue to establish partnerships and improve themselves. Also, even though the market is quiet, whales are very active!
There is important news from altcoin projects…
Launching on USDC Base and Optimism network
Stablecoin issuer Circle officially distributes its USD Coin on the Base and Optimism networks. Thus, opening the door to a wider range of funding options and use cases for USDC holders. According to the announcement made on September 5, users of both networks will be able to use USDC natively without having to rely on bridged versions of the stablecoin. Circle also states that it is working with “ecosystem partners” to ensure that all bridged versions of the stablecoin can be replaced with the native version.
1/ It’s here. #StableSeptember. The day you’ve all been waiting for – what comes first? How about two launches on the same day?
Introducing $USDC on @optimismFND and USDC on @BuildOnBase, two leading L2 scaling solutions for Ethereum built on the OP Stack. pic.twitter.com/v3SgJBZ7qG
— Circle (@circle) September 5, 2023
Visa launches stablecoin settlement capabilities in Solana
Global payments giant Visa announced that it has expanded its stablecoin payment capabilities to include Solana. Visa will begin testing the deal with two major payment firms, WorldPay and Nuvei, according to a press release on September 5. Initially, when users make digital payments, Visa will receive funds from its treasury. Then, it will send them to the seller’s bank. Following its partnership with Circle, the payments company began transferring the stablecoin from Visa’s treasury to traders’ escrow.
Wirex, this altcoin partners with
Wirex is the cryptocurrency payment leader with more than 6 million users. Now it is making great progress with the payment-oriented App Chain (W-Pay). In this direction, it collaborates with Polygon’s Blockchain Development Kit (CDK). Thus, it is revolutionizing cryptocurrency payments with this ambitious initiative. Recent technical developments have brought Polygon Blockchain technology to a leading and innovative position in the cryptocurrency industry. Wirex uses this technology because of its potential. Thus, it is developing a Layer-2 (L2) Blockchain for payments
🚀 Exciting News from Wirex! 🚀
📢 Introducing W-Pay: Our very own ZK-powered App Chain, set to revolutionize the payment landscape!
1/5 pic.twitter.com/X5HKa6DjDW
— Wirex (@wirexapp) September 5, 2023
Giant whale dumped the altcoin he collected from Binance on OKX
cryptokoin.com As you follow from , altcoin project Livepeer (LPT) has experienced an extraordinary rise. The project is a decentralized video streaming network. In its latest move, LPT became the highest-gaining altcoin in 30 days among the top 200 cryptos. In the midst of these developments, a giant whale dumped the LPTs he had previously collected from Binance on OKX. Whale code 0x475 transferred 250,000 to the stock market Livepeer (LPT) He invested ($1.9 million) and then sold it all. By the way, let us note that this whale bought these tokens from Binance 13 days ago. Therefore, the whale seems to have made a good profit from the price increase.
Livepeer recorded a 99.1% increase in 30 days, although performance metrics were mixed across various time periods. This points to increasing investor interest and technological promise. The altcoin project’s 30-day rise has made it a major competitor in the crypto world. However, its mixed performance in other time frames warrants cautious optimism.
Santiment: Volume and mentions are at the top for this altcoin
Analytics platform Santiment shared that Flamingo reached the highest level in the last five weeks in social media mentions. Meanwhile, FLM, the token of the altcoin project, reached its peak with a 79% increase during the day. Additionally, the transaction volume of its token has also increased significantly. Thus, it reached its peak in June 2022.
The rise in FLM. Source: SantimentBinance changes FLM and BLZ funding rates
Binance, the world’s largest crypto exchange, made a change regarding Flamingo (FLM) and Bluzelle (BLZ) futures contracts. In this context, Binance has announced that the funding rate settlement frequency of Binance Futures, USDⓈ-M FLMUSDT and USDⓈ-M BLZUSDT Perpetual Contracts regarding the two altcoin projects will be increased to four hours instead of every eight hours, starting from 05.09.2023 21:15 and 21:30 CET. will increase by one.” made the statement. Meanwhile, the crypto exchange stated that existing positions opened before the update will also be affected. So he recommended adjusting the position and leverage before adjusting to avoid a possible liquidation.
‘Ether whales don’t stop’
The cryptocurrency market has a stagnant outlook. Leading crypto Bitcoin and leading altcoin Ethereum continue their way in a narrow trading range. However, cryptocurrency whales see this as a buying opportunity. In this context, crypto analyst Ali Martinez draws attention to the activity of Ethereum whales:
Ethereum whales appear to have purchased 260,000 ETH worth approximately $425 million in the last 24 hours.
#Ethereum whales appear to have purchased around 260,000 $ETH within the last 24 hours, worth nearly $425 million. pic.twitter.com/rPRMhnI6oD
— Ali (@ali_charts) September 5, 2023
