Crypto Market Overview September 29th | Dex-Trade

Crypto Market Overview September 29th | Dex-Trade

Dennis Porter of Satoshi Fund Predicts Ethereum Crash

Satoshi Act Fund CEO and Bitcoin evangelist Dennis Porter warned Vitalik Buterin that the current cycle of Ethereum demand and popularity will be the last in the history of the coin, and will also mark the loss of crypto-silver status, as other cryptocurrencies will come to replace ETH. Porter claims that Buterin had a lot of time to prove the usefulness of Ethereum, but the co-founder of one of the key coins was unable to provide and indicate the reasonable value of Ethereum. Of course, Porter believes that some blockchains can already make a similar contribution to Ethereum in the crypto industry. At the same time, Bitcoin has no competitors in terms of assets for savings. It looks like the old and pointless “holy war” between BTC and ETH supporters has once again turned into an aggressive phase due to the long-awaited Ethereum merger. Porter's words are just one of the markers of the transition to aggression. But there is one serious drawback to this: in the near future, the already shattered market will be filled with low-quality clickbait forecasts. And this can lead to massive investment losses. However, those experts who feared that Bitcoin would lose its dominance over the market after the Ethereum merger, even this event should not have been able to pass the Turing test. Although, BTC is now really losing its dominance: the flagship has 38.8% of the global crypto market capitalization, which is as much as 4% lower than in July. But here it is better to do without conspiracy theories.


Jack Dorsey's TBD Will Partner With Circle For Global Crypto Expansion

A subsidiary of payments giant Block, TBD, owned by Twitter founder Jack Dorsey, has announced a partnership with the Circle payments ecosystem to work together on open standards and open source technologies that will enable the mass adoption of digital currencies in payment and financial applications around the world. Cooperation between the companies will begin with the development of rules and conditions for supporting cross-border money transfers and self-storage of the USDC stablecoin. However, Dorsey's target is likely to be Bitcoin payments, as he is one of the biggest Bitcoin evangelists on the planet. Emily Chiu, chief operating officer of TBD, also speaks of this. In particular, she believes that bitcoin could become a world reserve currency in the future, challenging the dominance of the US dollar. Whereas stablecoins will be the bridge between them. For now, TBD is committed to supporting USDC for various use cases, which will allow developers to easily use the Block tbDEX protocol and its Web5 decentralized identity platform. Other options include connecting traditional payments to digital assets for consumers and businesses, real-time and low-cost money transfers around the world, and self-custody wallets for USD-backed stablecoins.


Terraform Labs "Butted" Prosecutor's Office: the Fight for Do Kwon Was Started

The infamous Terraform Labs claimed that South Korean prosecutors had exceeded their authority with respect to the arrest warrant for firm co-founder Do Kwon, and also insisted that the Luna token is not a security, arguing that public pressure may have forced prosecutors to broaden the definition of securities. “We believe that this case has become highly politicized and that the actions of the Korean prosecutors demonstrate unfairness and a failure to uphold basic rights guaranteed under Korean law.” — an official representative of Terraform said. By the way, the same representative in the company’s latest report refused to divulge Kwon’s whereabouts, stressing that there were enough reasons for this: “ongoing physical security risks to him and his family” and attempts to break into the residences of the co-founder in South Korea and Singapore. It “smells” like a big scandal since such claims are usually backed up by counterclaims. Terraform's rhetoric is already reminiscent of a legal one, so it remains to be seen when Kwon's lawyers will ask for a suspension of the search for the period of the investigation.