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The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
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Shibarium, the Layer-2 scaling solution for the Shiba Inu ecosystem, is set for a major upgrade that will increase its security and scalability.
Shiba Inu’s marketing executive Lucie announced that the upgrade would target Puppynet, Shibarium’s testnet.
Puppynet to Get Update That Brings Ethereum’s ‘Best Practices to Shibarium’
Puppynet is scheduled for an upgrade on Friday at 2:30 a.m. ET at block 4,697,000. The changes include the Bor upgrade to version 1.3.7-bone-beta and the implementation of the Cancun hard fork. These enhancements aim to improve network performance, security, and overall efficiency, offering users a smoother experience.
“This upgrade is for Puppynet and it’s very important for developers! We’re rolling out some awesome changes that will make things run smoother, faster, and safer,” Lucie explained.
The upgrade will integrate Ethereum’s core software, Geth, into Shibarium’s testnet, bringing advanced features like faster smart contract execution, improved peer-to-peer networking, and better block propagation. It will also strengthen the network’s proof-of-stake (PoS) bridge, enabling smooth cross-chain asset transfers between Shibarium and other blockchains.
Additionally, the update will optimize gas fees, making transactions more affordable, and prune historical block data to conserve disk space, keeping Shibarium lightweight as it grows. Security enhancements will include improved error handling, vulnerability patches, and bug fixes to ensure a more secure network.
Post-upgrade, users can expect quicker transactions, better security, stable cross-chain transfers, and improved disk management. Lucie highlighted that these updates could boost Shibarium’s adoption, potentially increasing SHIB token burn rates.
“To really reduce the supply in a big way, we need millions (even billions) of users! The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time,” Lucie explained.
The Shiba Inu ecosystem team has advised node operators to update their software to version 1.3.7-bone-beta before the Cancun hard fork.
This upgrade reflects the meme coin’s dedication to advancing the SHIB ecosystem. Last month, Lucie announced that Shiba Inu plans to introduce decentralized governance as part of its growth strategy.
In a Sept. 15 post, a Reddit user with the screen name "SentuBill" claimed that the ChatGPT large language model (LLM) initiated a conversation by asking him how his first day in school was going.
According to the conversation provided by the user, ChatGPT was able to infer that it was the user's first day of school from previous conversations the user had with the program. The large language model also indicated that the capabilities were part of a new upgrade.
Cointelegraph verified that the contents of the conversation posted by the surprised user were real by viewing the official ChatGPT conversation transcript on the LLM platform.
The ChatGPT Strawberry Upgrade
On September 13, 2024, OpenAI launched a preview upgrade of the new highly-anticipated models to select users. OpenAI says these new models will have the ability to reason and give ChatGPT the seemingly magic ability to “think before it answers.”
The new model response times will take between 10-20 seconds to generate and will reportedly be able to scour the internet and conduct thorough research independently. These capabilities could transform ChatGPT from a curious novelty to an indispensable tool with real-world use cases.
OpenAI originally slated Strawberry for a November 2024 release date. However, sources indicate that the ChatGPT upgrade may launch sooner than expected. The artificial intelligence firm also revised its naming conventions for models—claiming that the new models represented such a paradigm shift from earlier builds that they decided to roll the dial back to one on the new LLM.
OpenAI products surge in popularity
OpenAI's various products have surged in popularity since April 2024—managing to garner over 1 million users. The company's products, including ChatGPT premium subscriptions and access to its ChatGPT Enterprise, had approximately 600,000 subscribers in April 2024.
The ChatGPT maker is also considering a significant price hike for some of its upcoming models, with the company potentially introducing high-end subscription plans that could cost upward of $2,000 per month.
- The listing of Infinite on MEXC Global at 13:00 (UTC) is poised to boost $INFI's visibility and access. As more traders get the opportunity to trade INFI/USDT, the demand for $INFI could rise, potentially impacting its price positively. An increase in trading activity often generates more interest and can drive up the asset's value. For more information, read the [announcement](https://twitter.com/MEXC_Official/status/1835268339985445019) and MEXC’s [link](https://www.mexc.com/support/articles/17827791518507).
MEXC@MEXC_OfficialSep 15, 2024.@Infinet_io, next-gen decentralized network for IoT and 5G, is coming to #MEXCKickstarter
Vote with $MX to share massive airdrops
$INFI/USDT Trading: 2024-09-16 13:00 (UTC)
- Mirada AI's listing on MEXC Global is a key event for $MIRX. Being listed on a major exchange can increase liquidity and expose the asset to a larger audience. If trading volumes surge, $MIRX might see a price bump. This listing combined with potential airdrops, opens the door for more traders to join. For additional information, see the [details on MEXC](https://www.mexc.com/support/articles/17827791518547) or the official [announcement](https://twitter.com/MEXC_Official/status/1835232437791867231).
MEXC@MEXC_OfficialSep 15, 2024.@miradaai, a decentralized artificial intelligence platform that leverages blockchain technology to democratize AI, is coming to #MEXCKickstarter
Vote with $MX to share massive airdrops
$MIRX/USDT Trading: 2024-09-16 10:00 (UTC)
BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into evolving regulatory environment, adoption rates, major industry events, and market movements.
This week’s roundup covers the launch of Zondacrypto’s education center in Poland, Telefónica’s integration with Polygon’s identity solution Privado ID, and other stories.
Zondacrypto Launches Poland’s First Cryptocurrency Education Center
Zondacrypto, a cryptocurrency exchange, is launching Poland’s first physical Education Center in Katowice, located at 21 Staromiejska Street. The center will offer free education on cryptocurrencies and safe investments to the public. The goal is to make cryptocurrencies and investments more accessible, even to those unfamiliar with the field.
This initiative marks a big step for the Katowice-based platform, which aims to promote crypto education in Europe. The center will operate from Monday to Friday, providing expert guidance to both beginners and experienced investors. Posts from the company’s X account hinted at the event but kept details under wraps until recently.
Agata Fit, Head of Community Relations & Skills, explained that the center was created to meet the growing demand for education on cryptocurrencies.
“We want to realize our mission and brand vision, which is to popularize cryptocurrencies in an accessible way. Also bring them closer to those who have never dealt with them before or know little about digital currency, but would like to learn more,” she said.
Fit also highlighted the center’s role in fostering a closer relationship with Zondacrypto users and people interested in safe investments. Katowice is just the start, with plans for more locations in the future.
Greece Plans New $330 Million Data Center to Boost AI Expansion
Paris-based Data4 is planning to invest around $330 million to build a major AI data center hub in Greece. This project aims to improve the country’s digital infrastructure and economy.
On September 12, Data4 announced that the new data center would be located in Paiania, near Athens. According to Bloomberg, the company’s CEO, Olivier Micheli, mentioned that they are negotiating with existing lenders and local Greek banks. He added that the site would greatly benefit the local economy and digital ecosystem.
Data4 operates several data centers across six European countries, and aims to invest €7 billion in expanding its operations. In addition, the company plans to build two more data centers at the Greek site for an extra €200 million.
Telefónica Tech Joins Polygon’s Privado ID as System Integrator
Spanish telecom giant Telefónica has become a system integrator for Polygon’s identity solution, Privado ID. On September 10, Telefónica Tech announced it will integrate Privado ID’s tools into its managed blockchain service, TrustOS. This collaboration aims to develop proof-of-concept projects for various digital identity applications, including age verification and e-signature solutions.
“This will allow users to automatically issue accreditations — such as training diplomas, academic qualifications, or attendance at seminars — as verifiable credentials, which can then be loaded into digital wallets,” said the companies.
The move comes as the EU prepares to introduce the European Digital Identity Regulation, a framework designed to provide citizens, residents, and businesses with a universally recognized digital identity for accessing public services and conducting transactions.
Privado ID relies on zero-knowledge (ZK) cryptography, a technology that allows users to verify information without disclosing additional personal data. This approach will strengthen privacy within the European digital ID wallet system.
“The regulation aims to create a more secure and standardized framework for electronic identification and trust services across Europe, making it essential for businesses and individuals to adopt compliant and innovative identity solutions,” the companies stated.
Polygon recently spun off its digital ID service and tested it through proofs-of-concept with several financial institutions, including Deutsche Bank.
Ireland Investigates Google’s AI Model for Data Protection Compliance
The Irish Data Protection Commission (DPC) has launched a cross-border investigation into Google Ireland Limited to assess whether the company complied with EU data protection laws during the development of its artificial intelligence model, Pathways Language Model 2 (PaLM2).
Announced on September 12, the DPC will examine whether Google used EU citizens’ personal data while training PaLM2, which was introduced on May 10, 2023. PaLM2 is an advanced language model known for its multilingual, reasoning, and coding capabilities.
The DPC emphasized the importance of a Data Protection Impact Assessment to ensure individuals’ rights are considered and protected, especially when processing personal data that poses a high risk. The inquiry is part of a broader initiative by the DPC and other EU/EEA regulators to oversee AI development and data usage.
“This statutory inquiry forms part of the wider efforts of the DPC, working in conjunction with its EU/EEA (European Economic Area) peer regulators, in regulating the processing of the personal data of EU/EEA data subjects in the development of AI models and systems,” DPC stated.
Google’s PaLM2 is available in four sizes — Gecko, Otter, Bison, and Unicorn — designed for various use cases, with Gecko optimized for mobile devices, even offline. Google has plans to release updated versions as the model integrates into more products.
This investigation follows the DPC’s recent conclusion of a probe into the social media platform X, which complied with EU data protection regulations.
World Liberty Financial, the crypto project that has been teased for months by former President Trump and his sons Eric and Donald Jr., has announced a new adviser in anticipation of its launch on Monday, September 16.
Joining advisors such as Dolomite co-founder Corey Caplan will be Sandy Peng, the project announced on X. Peng is a co-founder of Scroll, the Ethereum Layer 2 network which currently ranks six out of all Ethereum L2s in terms of Total Value Locked, according to L2Beat data.
"Having been in the space since 2013, Sandy brings a wealth of experience as an blockchain investor and operator, scaling an open source project for social and economic impact to 2B dollars valuation in 3 years," the project wrote.
The announcement comes just one day before the much-hyped crypto project is set to launch on Monday September 16 at 8 p.m., according to former President Trump. "We're embracing the future with crypto and leaving the slow and outdated big banks behind," Trump said in a video posted to his X account.
President Trump on Sunday was golfing when shots were reportedly heard nearby. "There were gunshots in my vicinity, but before rumors start spiraling out of control, I wanted you to hear this first: I AM SAFE AND WELL!," the presidential candidate said in an update.
While specific details surrounding World Liberty Financial remain scarce, a leaked whitepaper indicated that the project will be built on decentralized finance platform Aave and the Ethereum blockchain and center around a "credit account system." The project has also indicated that security is a top concern, while promoting the adoption of stablecoins is one core goal.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bitcoin reclaimed the $60,000 level on Sept. 13, indicating a solid comeback by the bulls. Bitcoin’s rally of about 10% this week has helped buyers turn around September’s returns to positive.
Next week, investors will focus on the FOMC meeting scheduled for Sept. 18. CME Group’s FedWatch Tool shows a 50% probability of a 50-basis point rate cut. However, if the Federal Reserve delivers a 25-basis point rate cut, the cryptocurrency markets may witness a knee-jerk reaction to the downside.
Bitcoin’s short-term uncertain price action has not deterred the long-term bulls from buying. Business intelligence and software company MicroStrategy announced that it had acquired 18,300 Bitcoin between Aug. 6 and Sept. 12 at an average price of $60,408 per Bitcoin, including expenses and fees. That increases the firm’s holdings to 244,800 Bitcoin, purchased at an average price of $38,585.
Could Bitcoin maintain above $60,000, attracting further buying? Will altcoins follow Bitcoin higher? Let’s study the top 5 cryptocurrencies that look strong on the charts.
Bitcoin price analysis
Bitcoin closed above the 50-day simple moving average ($59,693) on Sept. 13, indicating that the markets had rejected the breakdown below $55,724.
The 20-day exponential moving average ($58,461) has started to turn up, and the relative strength index (RSI) is in the positive zone, indicating that the bulls have the upper hand. If the price takes support at the moving averages, the pair is likely to rally to $65,000 and then to $70,000.
This optimistic view will be negated if the price turns down sharply and breaks below the 20-day EMA. The pair could then tumble to $55,724. Repeated retests of a support level tend to weaken it, opening the doors for a fall to $52,500.
The 4-hour chart shows the bears are trying to stall the recovery near $61,200. If the price turns down and breaks below the 20-EMA, it will suggest that the bulls have given up. That may pull the price down to the 50-SMA and subsequently to $55,724.
Conversely, if the price bounces off the 20-EMA, it will signal that every minor dip is being purchased. That will improve the prospects of a rally above $61,200, and the pair could then jump to $65,000.
Fetch.ai price analysis
Fetch.ai (FET) is forming an inverse head-and-shoulders pattern, which will complete on a break and close above $1.51.
If that happens, the pair could start a new uptrend. The pattern target of the bullish reversal setup is $2.32. However, it may not be an easy ride higher as the bears are expected to aggressively defend the $1.86 and $2.20 levels.
Contrary to this assumption, if the price turns down from the overhead resistance and breaks below the 20-day EMA ($1.23), it will suggest a range-bound action between $1.51 and $1 for a few days.
The pair has pulled back to the 20-EMA, indicating that short-term traders are booking profits closer to $1.51. If the 20-EMA cracks, it will suggest that the bulls are rushing to the exit. The pair may slide to the 50-SMA. This is a critical level for the bulls to defend because a break below it may sink the pair to $1.
If bulls want to retain the advantage, they will have to defend the 20-EMA and swiftly push the price above $1.45. If they do that, the pair may rally to $1.51.
Sui price analysis
The bulls are trying to break the lower lows and lower highs sequence in Sui (SUI), indicating a trend change.
The 20-day EMA ($0.92) has started to turn up, and the RSI is near the overbought zone, suggesting that the bulls have the edge. If buyers kick the price above the $1.11 to $1.18 resistance zone, the pair could pick up momentum and climb to $1.44.
On the contrary, if the price turns down sharply from the overhead zone, it will suggest that the bears remain active at higher levels. The pair may then slide to the 20-day EMA and later to the 50-day SMA ($0.84).
The bears are expected to mount a strong defense in the $1.11 to $1.18 zone. On the downside, the 20-EMA is the critical support to watch out for. If the price rebounds off the 20-EMA, the possibility of a break above the overhead zone increases.
Instead, if the price turns down and breaks below the 20-EMA, it will suggest profit booking by short-term traders. The pair may then slump to the 50-SMA. A break below this support could sink the pair to $0.86.
Aave price analysis
Aave (AAVE) bounced off the 20-day EMA ($135), indicating that the sentiment has turned positive, and traders are buying on dips.
Buyers will try to push the price to the overhead resistance of $160. A break and close above $160 will indicate the resumption of the uptrend. The pair may rise to $180 and then to $200.
This positive view will be invalidated in the near term if the price turns down sharply from the current level or the overhead resistance and breaks below the 20-day EMA. That could open the doors for a fall to $118.
The 4-hour chart shows that the bulls stalled the pullback at the 50-SMA, indicating buying on dips. There is minor resistance at $152, but it is likely to be crossed. The next stop is $160, where the bears will try to halt the up move again.
Alternatively, if the price turns down from the current level and breaks below $137, it will suggest that the bears are trying to make a comeback. The pair may then plummet toward $131.
Injective price analysis
Injective (INJ) has reached the resistance line of the descending channel pattern, which is likely to act as a stiff resistance.
The moving averages are about to complete a bullish crossover, and the RSI is in the positive territory, indicating advantage to buyers. A break and close above the channel will signal a potential trend change. The pair could rally to $23 and thereafter to $28.
Contrarily, if the price turns down sharply from the resistance line and breaks below the moving averages, it will suggest that the pair may extend its stay inside the channel for some more time.
The pair has been gradually moving toward the channel’s resistance line, which is expected to act as a stiff hurdle. If the price turns down from the resistance line but rebounds off the 20-EMA, it will signal strength. That will increase the likelihood of a break above the channel. The bears may again pose a strong challenge at $23, but the level is likely to be crossed.
If bears want to prevent the upside, they will have to pull the price below the 20-EMA. The pair may then slide to the 50-SMA.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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