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UK’s ETC Group To Offer Ethereum PoW Fork ETP After The Merge

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UK’s ETC Group To Offer Ethereum PoW Fork ETP After The Merge
  • The U.K.’s ETC Group will offer an ETP based on the Ethereum Pow hard fork after The Merge.
  • All holders of the current Ethereum ETP will receive units of the new one on a 1:1 basis.
  • Some exchanges have also said that it would support the asset of the forked chain.

Ethereum Proof-of-Work hard fork, ETHPoW, will have its own Exchange Traded Product (ETP). The United Kingdom’s ETC Group announced on September 7 that it would offer the ETP once The Merge has been completed. It will be offered on the XETRA exchange and should arrive on September 16.

We’ve today announced an upcoming ETP listing based on the Ethereum hard fork with holders of our current Ethereum ETP (Ticker ZETH), getting additional units of the new security free of charge on a 1:1 unit basis.

News: https://t.co/Si4eUK0amz

Details: https://t.co/5pHCZpvtnE

— ETC Group (@ETC_Crypto) September 7, 2022

The ETP will be called ETHWetc — ETC Group Physical EthereumPoW. The asset management company also revealed that holders of the current Ethereum ETP (ZETH) will receive units of the new one on a 1:1 basis that will be deposited into their brokerage accounts.

Co-founder and CEO of the ETC Group Bradley Duke stated that it was only right that investors of the original ETP should receive their due. He said,

SimpleFX

SimpleFX

“In line with this and our demonstrated leadership of the digital asset industry, any holders of our Ethereum based ETP (ZETH) will receive, at no cost, matching units of the new Ethereum PoW ETP soon after the Ethereum Hard Fork occurs, which we’re expecting around September 15. We believe that it is only right that investors in our products should receive the proceeds of this fork.”

The ETC Group offers several crypto products that are traded in regulated markets. The collateral offered by clients is stored in institutional-grade custody, and the whole process makes it easy for investors to invest in the crypto market. The company has more than $368 million in assets under management.

Ethereum PoW Fork Also Prepping Ahead of The Merge

The Proof-of-Work fork of the Ethereum network has been making the headlines as The Merge gets closer and closer. Currently, there is no mainnet for the variant, though users can purchase IoUs on exchanges that support it. All addresses that hold ETH on the Ethereum network will receive ETHW on the EthereumPoW network.

A few crypto exchanges have signaled support for the Ethereum fork. BitMEX, Poloniex, and MEXC Global said they would also support the forked asset, while Bitrue said that it would support the hard fork last month. There’s not telling how the asset will move, and some may just be getting in to make a quick profit.

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Ethereum

Celsius Network Will Hold Its Final Asset Auction On This Date 

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Celsius Network Will Hold Its Final Asset Auction On This Date 
  • Celsius Network is set to hold its final asset auction on October 17, 2022 
  • FTX CEO Sam Bankman-Fried is reportedly mulling over buying Celsius Network assets next week.

A recent court filing filed by Celsius reveals that the embattled crypto lender platform will conduct its final bidding session on October 17, 2022.

Celsius Is All Set to Host Its Final Auction Event 

Celsius Network has revealed a new timeline for its final auction event. The crypto lender platform will now be conducting its final bidding session on October 17, 2022, at 4:00 PM ET, alongside an auction, if necessary, on October 20, at 10:00 Eastern time.

Per the court filing filed with the US bankruptcy court for Southern New York, a sale hearing will be held on November 11, 1:00 PM ET, before chief US bankruptcy Judge Glenn Martin via Zoom.

Celsius Network, a prominent crypto lender platform, landed itself in troubled waters in July when the firm announced its decision to halt its deposits and withdrawals on the platform, citing extreme market conditions. The platform has received heavy criticism from the entire crypto community, which further spiralled out of control when the firm announced a deficit of 2.8 billion on its balance sheet.

In addition to this, Alex Mahinsky, CEO of Celsius Network, has recently submitted his resignation to the board. Mahinsky had reportedly withdrawn $10 million in the weeks before the firm halted deposits and withdrawals on its platform.

The auction, which is scheduled to go live on October 17, is said to be attended by a large number of interested parties. The CEO of FTX crypto platform, Sam Bankman-Fried, is also reportedly interested in purchasing the remaining assets of Celsius Network.

Last week, FTX.US won the first round of the Voyager asset auction by proposing a winning bid of $1.4 billion.

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Money Flowing Out Of Crypto Funds Is 666M Less Than Previous Quarter Indicating Bearish Investors Are Already Out: Bloomberg

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Money Flowing Out Of Crypto Funds Is 666M Less Than Previous Quarter Indicating Bearish Investors Are Already Out: Bloomberg
  • According to data from Bloomberg, money flowing out of crypto exchange-traded funds has slowed down by 97% in Q3 compared to Q2. 
  • Investors pulled $17.6 million from crypto ETFs in Q3 in comparison to a record withdrawal of $683.4 million from the ETF in Q2.

The second quarter of 2022 saw record withdrawals from crypto exchange-traded funds with a withdrawal of $683.4 million, which affected the price of Bitcoin and other cryptocurrencies. Bitcoin’s price has seen a 60% decrease that quarter, posting a record low of $17,785 on June 17 according to data from Coingecko.

Money Flowing Out Of Crypto Funds Is 666M Less Than Previous Quarter Indicating Bearish Investors Are Already Out: Bloomberg 12

Bloomberg data reports that Q3 of 2022 saw much fewer sales, indicating that capitulation may have occurred and bearish investors are now already out of risky assets such as BTC, Ethereum, and others.

ETF Strategist at Strategas securities stated for Bloomberg:

“I wonder if the second quarter was the ‘get me out part of these funds,”

According to Sohn, the third quarter may have been where the “laggards” and investors who had been “keeping the faith mentality” are now out.

Markets have declined in recent months as central banks have increased interest rates to curb inflation.

Bitcoin Witnessed An Increase In Volume This Quarter Against GBP

Bitcoin recently witnessed increased trading volume against GBP as the fiat currencies showed weakness. Bitcoin trading volume recorded an all-time high on Sep 28, 2022, as the UK’s fiat currency was threatened.

Bitcoin has been outperforming other major currencies in the past week, with a positive increase of 6.3%. Will this outperformance continue to hold, and are investors getting “orange-pilled” on Bitcoin while losing faith in fiat currency? This is something we will continue monitoring and see how it unfolds.

Money Flowing Out Of Crypto Funds Is 666M Less Than Previous Quarter Indicating Bearish Investors Are Already Out: Bloomberg 13

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ETH, BNB & TAMA – The 6 Big Winners on the Crypto Market this Week

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ETH, BNB & TAMA – The 6 Big Winners on the Crypto Market this Week

Even though Ethereum led the market in past years, it has never stayed at the top ladder for a long time. The high volatility property of cryptocurrencies was more evident in 2018, with unstable market prices. Amidst the price volatility, more altcoins were launched into the market, with an increased number of cryptocurrency users. This week, six altcoins have emerged as big winners in the crypto market.

An average crypto trader could view the emergence of these altcoins as a sudden wave. However, experts have predicted this outcome since the beginning of September. Thus, every diligent crypto investor should focus on coins that would earn them extra weekly profits. You may just consider investing in these coins now since there is a high possibility of earning a huge profit in return.

This is not the first time up to five cryptocurrencies are leading the market. So, you may wonder, which altcoins are leading again? Why are these altcoins everywhere on the crypto market this week? Read further for more information.

List of the 6 Big Winners on the Crypto Market this Week

Here is a list of the five big cryptocurrency winners you should watch out for this week:

  • Tamadoge
  • IMPT
  • Battle Infinity
  • Lucky Block
  • Ethereum
  • Binance Coin

Tamadoge (TAMA)

Tamadoge has refused to be an ordinary memecoin following the ordinance of Dogecoin. The coin is building a strong metaverse environment by developing varieties of cryptocurrency features. Some of these features include; Play-to-Earn (P2E), Tamadoge pets, and Tamadoge exchange.

Crypto traders currently buy Tamadoge on the OKX exchange platform. However, the coin developers are looking forward to launching the Tamadoge AR app in 2023. During the production of Tamadoge, a maximum of 2 billion tokens is usually in circulation.

This crypto project allows players to trade with its native currency, TAMA, which incurs no transaction tax. Tamadoge is a unique cryptocurrency such that traders can maximize their NFT animal art to earn substantial amounts of digital coins. A collection of expert and skilled crypto enthusiasts, software engineers, developers, and markers, are working closely to keep promoting Tamadoge among the Crypto community.

Experts have predicted that Tamadoge will possibly yield a price increase of 100x by 2023. Research has also revealed that investors participating in the Tama coin sales got 180% ROI from the first day. The bullish behavior of the TAMA coin is more rapid than ever, especially since it was listed on the OKX exchange. Thus, you can enjoy the benefits of trading with Tamadoge by visiting the exchange platform or by visiting LBank on Wednesday 5th October when TAMA will go live there.

TAMADOGE

>>>Buy Tamadoge Now<<<

IMPT

Ever wondered if it was possible for a cryptocurrency project to be centered on creating a socially conscious environment? Well, if you haven’t, it is very possible. And that is all because of IMPT

IMPT simply means “Initiative for Multipurpose Prevention Technologies.” It is a platform that helps businesses and individuals connect with brands aiming to reduce their overall carbon footprints. 

It is more than just a crypto project – it helps people tackle climate change by offering simple and effective mechanisms. There are lots of companies worldwide that contribute to greenhouse gas emissions, and IMPT is offering a solution with the use of carbon credits. 

Carbon credits help to eradicate emissions – certified Climate Action Projects created them. And one carbon credit is equivalent to one ton of carbon dioxide emission. Therefore, businesses and individuals who contribute to these emissions can purchase carbon credits to cover their emissions. 

You can also get carbon credits by participating in product shopping from IMPT partner brands. Points are earned as you shop, and these points can be converted into carbon credits. And the cool thing is that you can mint carbon credits as NFTs, which can be sold on the IMPT marketplace

IMPT is gaining momentum and has over 10,000 brand collaborations where users can get carbon credits to minimize their carbon footprints. The platform is growing and helping foster a green and carbon-free environment. 

impt.io

>>>Buy IMPT Now<<

Battle Infinity (IBAT)

You should not sleep on one of the best cryptocurrency projects launched in 2022. August was a lucky month for IBAT holders, as the price skyrocketed from $0.0015 to $0.11 per token. Although crypto enthusiasts predicted a huge price increase by the end of 2022, the first week of October is already manifesting the prediction.

Battle Infinity has grown so much in popularity due to its added features. Crypto traders can now stake tokens to earn some cryptocurrencies, similar to the Ethereum Proof of Stake (POS) mechanism. IBAT developers have also linked some battle games with access to their own NFT crates.

The IBAT stellar roadmap has caught the attention of several crypto investors and traders. It offers valuable experience due to the established metaverse-based concept. The project idea is focused on building an ecosystem that allows players to explore several gaming options. The IBAT gaming leadership board is directly proportional to players’ rewards. On the other hand, the hike in Battle Infinity price can be associated with its recent listing on PancakeSwap.

battle infinity

>>> Buy Battle Infinity Now <<<

Lucky Block (LBLOCK)

Several lottery systems exist in the gaming industry, but there have been no leading fair coins in the digital crypto space. Lucky Block players have an equal opportunity to win games using the LBLOCK token. The payment method is transparent and swift, as players will experience no delay.

Early buyers of Lucky Block experienced a fast selling out in the first quarter of 2021. Within 49 days, 32.5 billion tokens have been sold out, generating huge profit for investors. Lucky Block’s growth did not end there, as it kept establishing its base in the cryptocurrency environment.

The Lucky Block coin has gained much presence on several social media outlets since its new version was launched on the 25th of July, 2022. The older version of the digital coin followed the BNB chain pattern. On the other hand, the latest version is built on the Ethereum blockchain. Based on this development, traders can expect more exciting projects from Lucky Block in the near future.

lucky block

>>>Buy Lucky Block Now <<<

Ethereum (ETH)

Interestingly, Ethereum is not a digital coin that survives only on past glory. It happened to be one of the top 5 winners of digital currencies for this week. Although many digital currencies experienced a downfall in the past few months, Ethereum is steadily gaining ground. Since Ethereum developers completed the “merge” project on the 15th of September, Ethereum’s price has been more stable than most cryptocurrencies, including Bitcoin.

The price of Ethereum has recently been between $1,200 and $1,500. Financial experts predict the market may likely experience high volatility due to global economic inflation. Thus, encouraging traders to buy Ethereum now. Research has also revealed that the volatility will likely happen by the end of 2022.

The good news is that Ethereum investors will highly benefit from this high volatility. The recent price prediction suggests that Ethereum may hit $4,000 in favor of its investors. Whatever happens in the near future, financial planners advise that crypto traders diversify their portfolios by investing in the Ethereum currency.

ethereum

Binance Coin (BNB)

Developers of Binance Coin have built a large ecosystem that accommodates several utilities, including listing fees, exchange fees, and trading fees. BNB is built on the Ethereum blockchain while hosting cryptocurrency activities like Binance Smart Chain. Unfortunately, the Binance Coin experienced a price downfall in 2020 due to the pandemic outbreak. However, there has been a positive turnaround since the coin hit $690 in May 2021.

The Binance Coin’s uniqueness is seen in traders’ opportunity to trade digital assets systematically. Although Binance charges a transaction rate of 0.1%, traders can easily make this payment with BNB. The vast market possibilities BNB presents contribute to its massive global adoption.

binance

Final Thoughts

The six cryptocurrencies discussed above will possibly stay at the top for a long time, considering traders’ massive response to the trending market charts. However, traders seem to have developed a greater interest in the Tamadoge, Lucky Block, and Battle Infinity digital coins. These latest altcoins can compete closely with older altcoins in the crypto market.

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