Valkyrie submits application for Ether futures ETF

Valkyrie, the asset management company, has applied to the US SEC for an Ether (ETH) futures ETF. This initiative follows Valkyrie’s earlier alteration of its investment approach for a Bitcoin (BTC) futures ETF to align with regulatory guidelines. According to the submitted application, the fund’s strategy will involve acquiring multiple ETH futures contracts rather than a direct investment in Ether. The application details state that Ether’s characterization as a currency or digital commodity hinges on its application in specific transactions, potentially serving as a medium of exchange or unit of account.…

CME Group to launch BTC, ETH reference rates aimed at Asia’s investors

Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia. On Aug. 16, derivatives marketplace CME Group said it’s partnered with crypto indices provider CF Benchmarks and on Sept. 11 to launch the two Asia Pacific-focused crypto reference rates. Reference rates are used as a credible source of a cryptocurrency’s price and are used — in CME’s case — to price settlements of crypto futures contracts. CME Group said from Sept.…

Bitcoin (BTC) Slips to 2 Month Lows as Leveraged Funds Ramp Up Bearish Bets

“Whether that’s one of the largest financial services companies in the world launching a stablecoin using public blockchain infrastructure or renewed excitement for futures-based ETH ETFs on the back of a flurry of new applications, both volatility and volume metrics continue to drop to multi-year lows,” David Lawant, head of research at institutional trading desk FalconX, said in a market update. Original

SHIB, BONE, LEASH tokens dip amid rumors of $2.5M Shibarium gaffe

The launch of the Shibarium mainnet — a layer 2 scaling solution for the Ethereum network — appears to have gotten off to a rocky start, at least when it comes to the price of its related tokens.  Many Shiba Inu (SHIB) holders had held out hope for a sharp appreciation of SHIB, Shibarium’s governance token BONE and the LEASH token with the launch of the Shibarium network on Aug. 16. However, those aspirations have been dashed rather quickly. At the time of publication, the price of SHIB is down…

Coinbase futures approval seen as a major win amid the war on crypto

The approval for America’s largest digital asset exchange, Coinbase, to offer crypto futures to U.S. retail customers is being seen as a major regulatory victory amid a heated battle with the country’s securities regulator. On Aug. 16, the National Futures Association (NFA) — designated by the U.S. commodities regulator as a registered futures association — granted Coinbase permission to operate a Futures Commission Merchant (FCM) platform. A loud signal Some crypto industry commentators see the approval as a significant regulatory victory for Coinbase and crypto, given the U.S. Securities and Exchange…

Dogecoin Price (DOGE) Poised for Continued Weakness Below $0.07

Dogecoin is down over 10% and trading below the $0.070 resistance against the US Dollar. DOGE could extend losses if there is a move below $0.065. DOGE is currently trading in a bearish zone below $0.072 against the US dollar. The price is trading well below the $0.070 zone and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.071 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The price could correct higher but upsides might be…

Ethereum Price Takes a Bit Hit: Main Reasons $1,720 or $1,650 Are Likely Targets

Ethereum price is showing bearish signs below the $1,840 zone against the US Dollar. ETH could drop further toward the $1,720 support zone. Ethereum is gaining bearish momentum below the $1,850 and $1,840 resistance levels. The price is trading below $1,830 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop further if it stays below $1,850 in the coming days. Ethereum Price Extends Losses Ethereum’s price failed…

Dubai offering 90% license fee discount to web3 projects 

Dubai now offers web3 and artificial intelligence (AI) projects a 90% license-fee discount. The city of Dubai in the United Arab Emirates is offering a 90% subsidy on commercial licenses for artificial intelligence (AI) and web3 businesses. The tech hub called Dubai AI and Web 3.0 Campus announced the decision to attract companies to set up a base in the city.  The issuance of these licenses will be facilitated by the Dubai International Financial Centre (DIFC), a financial free zone within the city. Enterprises looking to take advantage of the…