Price analysis 9/28: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

BTC price caught a bid, leading to a similar-sized boost in select altcoins, but on a macro level, $20,000 remains a strong overhead resistance.

The S&P 500 fell for six days in a row and made a new year-to-date low on Sept. 27, but Bitcoin (BTC) maintained its outperformance and stayed well above its June low. This could be a positive sign because markets that show strength on the way down are the ones that outperform in the event of a recovery.

The United States equities markets rebounded sharply on Sept. 28 after the Bank of England announced a bond-buying program and the U.S. Treasury yields pulled back from multi-year highs. As this occurred, strong buying in Bitcoin took place, but BTC was unable to break above its overhead resistance.

Daily cryptocurrency market performance. Source: Coin360

A ray of hope for cryptocurrency traders is that October has historically been a strong month for Bitcoin. Barring 2014 and 2018, Bitcoin has managed a positive close in October every year since 2013, according to data from Coinglass.

Although history favors a bounce in October, traders should be careful because the macroeconomic situation is unprecedented and remains a challenge.

Could Bitcoin and altcoins close September on a strong note? Let’s study the charts of the top 10 cryptocurrencies to find out.


Bitcoin soared above the 20-day exponential moving average (EMA) ($19,576) on Sept. 27 but the bulls could not sustain the higher levels. This evaporated all intraday gains. The bears pounced on this opportunity and tried to sink the price below the immediate support of $18,626 on Sept. 28 but the long tail on the day’s candlestick shows strong buying at lower levels.

BTC/USDT daily chart. Source: TradingView

The positive divergence on the relative strength index (RSI) remains intact and is pointing to a possible recovery. If the price breaks and sustains above the 20-day EMA, the likelihood of a rally to the downtrend line increases. The bears are likely to defend this level with vigor.

If the price turns down from the downtrend line, the BTC/USDT pair could drop to the 20-day EMA. A bounce off this level will suggest that the sentiment could be changing from selling on rallies to buying on dips. If buyers push the price above the downtrend line, the pair could reach $22,799.

To invalidate this bullish bias, the bears will have to sink the price below $18,125. The pair could then retest the June low of $17,622. A break below this support could signal the resumption of the downtrend. The pair could then decline to $14,500.


Ether (ETH) turned down sharply from the 20-day EMA ($1,411) on Sept. 27 but rebounded off the $1,262 support on Sept. 28. This shows that bears are selling on rallies and bulls are buying on dips.

ETH/USDT daily chart. Source: TradingView

The ETH/USDT pair is currently stuck between $1,250 and $1,410. If bulls push the price above the overhead resistance, the pair could rally to the resistance line of the descending channel. The bulls will have to surmount this obstacle to suggest a potential trend change.

If the price turns down from the current level or the overhead resistance and breaks below the support at $1,250, it will suggest that the selling pressure is building up. This could increase the likelihood of a break below the channel. The pair could then slide to the psychological level of $1,000.


The bulls nudged BNB above the resistance line of the descending channel pattern on Sept. 27 but they could not go past the 50-day SMA ($287). This attracted heavy selling and the price slipped back below the 20-day EMA ($276).

BNB/USDT daily chart. Source: TradingView

The long tail on the Sept. 28 candlestick shows that the bulls have not given up and may make another attempt to pierce the overhead resistance at the 50-day SMA. If they can pull it off, it will suggest a potential trend change in the short term. The BNB/USDT pair could first move up to $300 and then attempt a sprint to $338.

On the other hand, if the recovery turns down from the moving averages, it will suggest that the bears are active at higher levels. The pair could then retest the immediate support at $258.


XRP’s sharp rally to $0.56 has retraced to the breakout level of $0.41. The 61.8% Fibonacci retracement level is close to this level and the 20-day EMA ($0.41) is also nearby. Hence, buyers are likely to defend the level with all their might.

XRP/USDT daily chart. Source: TradingView

If the price rebounds off the current level, the XRP/USDT pair could attempt a rally to $0.47 and then to $0.52. The bears could offer a stiff resistance in this zone. If the price turns down from this zone, the pair could consolidate in a range for a few days.

The failure to defend the breakout level of $0.41 will suggest that the recent rally may have been a bear trap. The pair could then drop to the 50-day SMA ($0.37). If this support also cracks, the pair could complete a 100% retracement and tumble to $0.32.


The long wick on Cardano’s (ADA) Sept. 27 candlestick shows that bears continue to sell the recovery to the 20-day EMA ($0.46). The bears are trying to cement their advantage by sustaining the price below the uptrend line.

ADA/USDT daily chart. Source: TradingView

If they manage to do that, the ADA/USDT pair could slide to the crucial support of $0.40. This is an important level for the bulls to defend because if they fail in their endeavor, the pair could resume its downtrend. The pair could then decline to $0.33.

On the upside, buyers will have to push the price above the moving averages to suggest that the selling pressure could be reducing. The pair could then rise to the downtrend line. A break above this level could open the doors for a possible recovery to $0.60.


Solana (SOL) attempted to break above the 50-day SMA ($35) on Sept. 27 but the bears were in no mood to let go of their advantage. They sold aggressively and pulled the price back below the 20-day EMA ($33).

SOL/USDT daily chart. Source: TradingView

If the SOL/USDT pair does not give up much ground from the current level, the buyers may again attempt to push the price above the 50-day SMA. The repeated retest of a resistance level tends to weaken it and improves the prospects of a break above it. If the price rises above the 50-day SMA, the pair could rally to $39.

The bears may have other plans as they will try to sink the pair to the strong support at $30. If this support collapses, the pair could retest the June low at $26.


Dogecoin’s (DOGE) recovery faded just above the 50-day SMA ($0.07) on Sept. 24 and the price slipped back near the strong support at $0.06 on Sept. 28.

DOGE/USDT daily chart. Source: TradingView

The 20-day EMA ($0.06) is flattening out and the RSI is just below the midpoint, suggesting a balance between supply and demand. If bears want to assert their dominance, they will have to sink and sustain the price below the immediate support near $0.06. That could result in a retest of the June low near $0.05.

If bulls want to tilt the advantage in their favor in the near term, they will have to push and sustain the price above the overhead resistance at $0.07. The DOGE/USDT pair could then start its journey to $0.09.

Related: Bitcoin holds $19K, but volatility expected as Friday’s $2.2B BTC options expiry approaches


Polkadot’s (DOT) rebound off the strong support at $6 fizzled out near the 20-day EMA ($6.68) on Sept. 27. This indicates that the bears have not given up and are selling on every minor rally.

DOT/USDT daily chart. Source: TradingView

The price is getting squeezed between the 20-day EMA and the support at $6. This uncertainty could resolve with a strong range breakout but it is difficult to predict the direction with certainty. Therefore, it is better to wait for the breakout to happen before taking directional bets.

If the price plummets below $6, the DOT/USDT pair could start the next leg of the downtrend and dive to $4. On the contrary, if the price explodes above the 20-day EMA, the pair could climb to the 50-day SMA ($7.37) and then to the overhead resistance at $8.


Polygon (MATIC) turned down from the 20-day EMA ($0.78) on Sept. 27, indicating that the sentiment remains negative and traders are selling on rallies to resistance levels.

MATIC/USDT daily chart. Source: TradingView

The bears will attempt to strengthen their position by pulling the price below the $0.72 to $0.69 support zone. If this zone gives way, the selling could pick up momentum and the MATIC/USDT pair could drop to $0.62. The downsloping moving averages and the RSI in the negative territory indicate a minor advantage to bears.

Alternatively, if the price rebounds off the support zone, the bulls will again try to drive the pair above the 20-day EMA. If they succeed, the pair could rise to the 50-day SMA ($0.84).


Shiba Inu (SHIB) has been trading near the 20-day EMA ($0.000011) for the past few days, indicating that the bulls are not dumping their positions as they anticipate the price to move higher.

SHIB/USDT daily chart. Source: TradingView

If bulls propel the price above the 20-day EMA, the SHIB/USDT pair could rise to the overhead resistance at $0.000014. The bears may mount a strong resistance at this level but if bulls overcome this barrier, the pair could start its march toward $0.000018.

This positive view could invalidate in the near term if the price turns down from the current level and breaks below the support at $0.000010. The pair could then drop toward the important support at $0.000007.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.


Circle CEO says blockchain industry is transitioning from dial-up to broadband phase

Allaire believes that privacy and identity are two fundamental pillars of a new Web3.

At the Converge22 conference in San Francisco, Jeremy Allaire, CEO of stablecoin issuer Circle, said that the world is finally moving from the speculative value phase of crypto to the utility phase. Drawing parallels to the early days of the internet, he said:

“It is an architecture that the internet was founded on many decades ago — this idea of open networks, of open standards and protocols, of connecting entities, devices and people in interoperable ways, of a globally intertwined world of decentralized systems.”

As told by Allaire, there are currently on-chain mechanisms to ensure safe, trustworthy interactions between crypto users. However, there need to be “advancements” in technologies such as zero-knowledge proofs that prove identities and credentials while simultaneously ensuring individuals’ privacy:

“People need to be able to interact with apps, and services, and content and transactions without knowing that they’re using crypto. I don’t know I’m using SMTP [Simple Mail Transfer Protocol] when I send an email with Gmail — I do know that, but a lot of people don’t know that, and that’s okay.”

Allaire explained that for mass crypto adoption to happen, participants would need to be introduced to a much more simplified version of the underlying technology. “People don’t need to know what chain they’re on or even what stablecoin they’re using,” he said. “They just need to know that it’s frictionless interaction with data and money.”

Finally, Allaire said we are reaching the next “broadband” phase of blockchain, referencing the dial-up era in the early days of the internet. “We need safe, scalable and energy-efficient public blockchains” just as we did with the internet, he stated, raising the example of new developments such as Ethereum’s recent move to proof-of-stake and the emergence of layer-2 and layer-1 scaling models. He said the step was “necessary for this [blockchain] to become something that is used by everyday society for mission-critical applications.”

Converge22 in San Francisco. Source: Sam Bourgi


Bitcoin price charges higher, but whales line up to sell BTC at $20K

Analysts claim “mega whales” will make it very difficult for BTC traders to flip $20,000 to support.

Bitcoin (BTC) staged a welcome comeback after the Sept. 28 Wall Street open as bulls faced off with whale-sized sellers.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Whales lie in wait at $20,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining over $1,000 on the day to see highs of $19,656 on Bitstamp.

The move characteristically copied an uptick for United States equities, with the S&P 500 and Nasdaq Composite Index up 1.5% and 2.2%, respectively.

Now, analysis warned that the area of around $20,000 was still flush with large-volume traders eager to continue profit-taking.

The BTC/USD chart on major exchange Binance “shows brown Mega Whales dumping into BTC support to minimize slippage,” analytics resource Material Indicators commented.

An accompanying snapshot confirmed the bulk of resistance lying in wait at just below the $20,000 boundary.

“Let’s see if $19.5k holds to set up another potential run at the R/S flip zone ~$20k,” Material Indicators added.

BTC/USD order book data (Binance). Source: Material Indicators/ Twitter

To the downside, meanwhile, analyst Maartunn, a contributor to on-chain analytics platform CryptoQuant, noted a large area of bid interest between $18,000 and $18,500.

This was worth around $65 million as of Sept. 28, potentially forming a cushion of support.

As Cointelegraph reported, the area below June’s $17,600 low is conversely devoid of bid support, opening up the potential for a cascade toward $12,000.

In terms of the strength of the current bounce, traders were skeptical, with popular Twitter account Cheds cautioning on exposure with “bulls starting to celebrate.”

At the time of writing, BTC/USD traded around the $19,500 mark.

Related: More ancient Bitcoin leaves its wallet after 10-year hibernation

Dollar slumps after latest two-decade high

On macro, the story of the day was the United Kingdom’s central bank returning to quantitative easing (QE) after financial turmoil hit its currency and bond market.

The Bank of England sparked an instant recovery for GBP/USD after the pair hit all-time lows.

The U.S. dollar, already coming off twenty-year highs, continued to give back gains.

The U.S. dollar index (DXY) looked set to return below 113 at the time of writing, down a full 1.5 points on the day.

“Looks like we’ll finish the week out strong for Bitcoin and Stocks as we head into Pumptober,” a hopeful IncomeSharks reacted.

U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.


Israel, Norway and Sweden central banks partner with BIS to explore CBDC payments

The Project Icebreaker initiative aimed to improve cross-border payments by reducing costs and increasing speed and transparency, with a final report expected in Q1 2023.

The Bank for International Settlements, or BIS, has reported it will be partnering with the central banks of Israel, Norway and Sweden to explore international retail and remittance payments use cases for central bank digital currencies, or CBDCs.

In a Sept. 28 announcement, the BIS said the collaboration — named Project Icebreaker — will involve the bank’s Innovation Hub Nordic Centre testing key functions and the technological feasibility of interlinking domestic CBDC systems. The central banks will develop a new hub in which the Central Bank of Norway, the Bank of Israel, and Sveriges Riksbank can connect their proof-of-concept CBDC systems.

Beju Shah, the head of the Innovation Hub Nordic Centre, said the experiment will explore CBDC designs and architecture, as well as related policy concerns. The project aimed to improve cross-border payments using CBDCs by reducing costs and increasing speed and transparency, with a final report expected in the first quarter of 2023.

“Efficient and accessible cross-border payments are of extreme importance for a small and open economy like Israel and this was identified as one of the main motivations for a potential issuance of a digital shekel,” said Bank of Israel deputy governor Andrew Abir. “The results of the project will be very important in guiding our future work on the digital shekel.”

The #BISInnovationHub Nordic Centre, @riksbanken @NorgesBank and Bank of Israel are launching Project Icebreaker to explore how #CBDCs can be used for international retail and remittance payments using a hub-and-spoke model. Read more:

— Bank for International Settlements (@BIS_org) September 28, 2022

The BIS reported on Sept. 27 that a CBDC pilot involving the central banks of Hong Kong, Thailand, China and the United Arab Emirates was “successful” after a month-long test facilitating $22 million worth of cross-border transactions. Other countries’ central banks have launched similar initiatives related to improving cross-border settlements, as institutions in Australia, Singapore, Malaysia and South Africa announced in September 2021.

Related: Australian pilot CBDC test for eAUD to commence mid-2023: RBA White Paper

The Central Bank of Norway, the Bank of Israel and Sveriges Riksbank have all been considering the benefits of rolling out their respective CBDCs, while China reportedly expanded the trials of its digital yuan to larger swaths of the country in September. In the United States, lawmakers and regulators have taken different approaches to explore the digital dollar, while a March executive order from President Joe Biden had government departments and agencies research the benefits and risks of a CBDC.


New study seeks to explain the ‘Mandela Effect’ – the bizarre phenomenon of shared false memories

Imagine the Monopoly Man. Is he wearing a monocle or not?

If you pictured the character from the popular board game wearing one, you’d be wrong. In fact, he has never worn one.

If you’re surprised by this, you’re not alone. Many people possess the same false memory of this character. This phenomenon takes place for other characters, logos and quotes, too. For example, Pikachu from Pokémon is often thought to have a black tip on his tail, which he doesn’t have. And many people are convinced that the Fruit of the Loom logo includes a cornucopia. It doesn’t.

We call this phenomenon of shared false memories for certain cultural icons the “visual Mandela Effect.”

People tend to be puzzled when they learn that they share the same false memories with other people. That’s partly because they assume that what they remember and forget ought to be subjective and based on their own personal experiences.

However, research we have conducted shows that people tend to remember and forget the same images as one another, regardless of the diversity of their individual experiences. Recently, we have shown these similarities in our memories even extend to our false memories.

What is the Mandela Effect?

The term “Mandela Effect” was coined by Fiona Broome, a self-described paranormal researcher, to describe her false memory of former South African president Nelson Mandela dying in prison in the 1980s.

She realized that many other people also shared this same false memory and wrote an article about her experience on her website. The concept of shared false memories spread to other forums and websites, including Reddit.

Since then, examples of the Mandela Effect have been widely shared on the internet. These include names like “the Berenstain Bears,” a children’s book series that is falsely remembered as spelled “-ein” instead of “-ain,” and characters like Star Wars’ C-3PO, who is falsely remembered with two gold legs instead of one gold and one silver leg.

The Fruit of the Loom logo has never had a cornucopia. Wikimedia Commons

The Mandela Effect became fodder for conspiracists – the false memories so strong and so specific that some people see them as evidence of an alternate dimension.

Because of that, scientific research has only studied the Mandela Effect as an example of how conspiracy theories spread on the internet. There has been very little research looking into the Mandela Effect as a memory phenomenon.

But understanding why these icons trigger such specific false memories might give us more insight into how false memories form. The visual Mandela Effect, which affects icons specifically, was a perfect way to study this.

A robust false memory phenomenon

To see whether the visual Mandela Effect really exists, we ran an experiment in which we presented people with three versions of the same icon. One was correct and two were manipulated, and we asked them to select the correct one. There were 40 sets of icons, and they included C-3PO from the Star Wars franchise, the Fruit of the Loom logo and the Monopoly Man from the board game.

In the results, which have been accepted for publication in the journal Psychological Sciences, we found that people fared very poorly on seven of them, only choosing the correct one around or less than 33% of the time.

For these seven images, people consistently identified the same incorrect version, not just randomly choosing one of the two incorrect versions. In addition, participants reported being very confident in their choices and having high familiarity with these icons despite being wrong.

Put together, it’s clear evidence of the phenomenon that people on the internet have talked about for years: The visual Mandela Effect is a real and consistent memory error.

The correct version of Pikachu is the one on the left (a first one). Most participants in the study not only chose a wrong version of the popular cartoon character, but they also chose the same wrong one – the Pikachu with the black tip on its tail. Wilma Bainbridge and Deepasri Prasad, CC BY-SA

We found that this false memory effect was incredibly strong, across multiple different ways of testing memory. Even when people saw the correct version of the icon, they still chose the incorrect version just a few minutes later.

And when asked to freely draw the icons from their memory, people also included the same incorrect features.

No universal cause

What causes this shared false memory for specific icons?

We found that visual features like color and brightness could not explain the effect. We also tracked participants’ mouse movements as they viewed the images on a computer screen to see if they simply didn’t scan over a particular part, such as Pikachu’s tail.

But even when people directly viewed the correct part of the image, they still chose the false version immediately afterward. We also found that for most icons, it was unlikely people had seen the false version beforehand and were just remembering that version, rather than the correct version.

It may be that there is no one universal cause. Different images may elicit the visual Mandela Effect for different reasons. Some could be related to prior expectations for an image, some might be related to prior visual experience with an image and others could have to do with something entirely different than the images themselves.

For example, we found that, for the most part, people only see C-3PO’s upper body depicted in media. The falsely remembered gold leg might be a result of them using prior knowledge – bodies are usually only one color – to fill in this gap.

But the fact that we can demonstrate consistencies in false memories for certain icons suggests that part of what drives false memories is dependent on our environment – and independent of our subjective experiences with the world.

Authors: Deepasri Prasad, Ph.D. Student in Cognitive Neuroscience, Dartmouth College and Wilma Bainbridge, Assistant Professor of Psychology, University of Chicago

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Bank of England Deputy Governor Cunliffe on DLT securities settlement: Not so fast!

In a lengthy appraisal of distributed ledger technology, Cunliffe weighed its technical implications, which will be examined in greater detail when the FMI Sandbox premiers in 2023.

There’s more to crypto than just assets, Bank of England deputy governor Sir Jon Cunliffe reminded the Association for Financial Markets in Europe Conference in London on Sept. 28. The distributed ledger technology (DLT) behind crypto assets has far-reaching implications for traditional markets and interoperability. 

DLT will touch on trading, clearing, settlement and custody as it is integrated into capital markets, Cunliffe said. One of the biggest differences Cunliffe identified in DLT was its speed. Instantaneous settlement can reduce risk by removing the chance of drastic market movements while a transaction is being processed, but:

“The development of instantaneous settlement also poses challenges for the management of liquidity as it requires all cash and securities to be in place at the time a trade is struck […] though I should stress that it [settlement] need not be instantaneous or decentralized.”

Smart contracts combine activities and thus reduce the number of intermediaries and the fees associated with them, Cunliffe said. They could increase resilience in the system for the same reason and incorporate related services like the payment of coupons on bonds or “management of more sophisticated securities trades.”

Today’s first keynote is given by Deputy Governor for Financial Stability, @bankofengland, Sir Jon Cunliffe, who focused his speech on the potential impacts of the crypto world on post trade infrastructure #OPTIC2022

— AFME (@AFME_EU) September 28, 2022

Cunliffe, a longtime advocate of greater crypto regulation, had a number of caveats to share. First, he said, DLT is relatively unproven. In addition, decentralization may need to be constrained:

“It is very difficult to see how risks can be managed to the right level without a legal entity accountable for the services provided and responsible for the proper functioning of the system.”

Currently, “central banks provide the rails on which those [settlement] assets are transferred in their jurisdictions,” Cunliffe said, and the Bank of England could create its own DLT to accommodate transactions in the future or create ways to “plug in” the current real-time gross settlement system to DLT systems. European Central Bank executive board member Fabio Panetta discussed the same options at a symposium held on Sept. 26.

Related: BoE official compares current crypto market regulation to ‘unsafe aeroplanes’

The Bank of England, the Financial Conduct Authority and HM Treasury will have a Financial Markets Infrastructure (FMI) Sandbox in place by 2023 to explore performance and regulatory issues, Cunliffe said.


Scientists have suggested on what types of planets life can exist

Researchers continue to search for extraterrestrial life and discover many exoplanets. During their recent experiment, Italian scientists said that living microorganisms can be found on planets that orbit around red dwarfs, reports

Scientists believe that the vast majority of potentially habitable planets revolve around red dwarfs. But most of the light these stars emit is in the infrared. Infrared light is nice and warm, but does it provide the boost needed for photosynthesis?

As part of a new study, scientists from the University of Padua, Italy, set out to find the answer to this question.

For their study, the scientists created a starlight simulator, which consists of LEDs that mimic the light of a red dwarf. The scientists then created an atmosphere that could be typical of a potentially habitable planet next to such a star.

In this environment, the scientists placed some bacteria and illuminated them with simulated starlight.

One of the first bacteria on Earth that used photosynthesis to produce oxygen was cyanobacteria, and so scientists began experimenting with these organisms. It turned out that cyanobacteria feel great and develop under the light of a red dwarf.

After that, the scientists repeated their experiment with algae and the result was the same.

In their scientific paper, Italian scientists conclude that despite the fact that red dwarfs do not emit the type of light that drove the evolution of photosynthesis on Earth, terrestrial organisms could live on a planet near a red dwarf. Thus, extraterrestrial life can be found on these planets.

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CertiK says SMS is the ‘most vulnerable’ form of 2FA in use

The level of security provided by SMS pales in comparison to authenticators or physical security keys, CertiK’s Jesse Leclere says in an interview.

Using SMS as a form of two-factor authentication has always been popular among crypto enthusiasts. After all, many users are already trading their cryptos or managing social pages on their phones, so why not simply use SMS to verify when accessing sensitive financial content?

Unfortunately, con artists have lately caught on to exploiting the wealth buried under this layer of security via SIM-swapping, or the process of rerouting a person’s SIM card to a phone that is in possession of a hacker. In many jurisdictions worldwide, telecom employees won’t ask for government ID, facial identification, or social security numbers to handle a simple porting request.

Combined with a quick search for publicly available personal information (quite common for Web 3.0 stakeholders) and easy-to-guess recovery questions, impersonators can quickly port an account’s SMS 2FA to their phone and begin using it for nefarious means. Earlier this year, many crypto Youtubers fell victim to a SIM-swap attack where hackers posted scam videos on their channel with text directing viewers to send money to the hacker’s wallet. In June Solana NFT project Duppies had its official Twitter account breached via a SIM-Swap with hackers tweeting links to a fake stealth mint.

With regards to this matter, Cointelegraph spoke with CertiK’s security expert Jesse Leclere. Known as a leader in the blockchain security space, CertiK has helped over 3,600 projects secure $360 billion worth of digital assets and detected over 66,000 vulnerabilities since 2018. Here’s what Leclere had to say:

“SMS 2FA is better than nothing, but it is the most vulnerable form of 2FA currently in use. Its appeal comes from its ease of use: most people are either on their phone or have it close at hand when they’re logging in to online platforms. But its vulnerability to SIM card swaps cannot be underestimated.”

Leclerc explained that dedicated authenticator apps, such as Google Authenticator, Authy, or Duo, offer nearly all the convenience of SMS 2FA while removing the risk of SIM-swapping. When asked if virtual or eSIM cards can hedge away the risk of SIM-swap-related phishing attacks, for Leclerc, the answer is a clear no:

“One has to keep in mind that SIM-swap attacks rely on identity fraud and social engineering. If a bad actor can trick an employee at a telecom firm into thinking that they are the legitimate owner of a number attached to a physical SIM, they can do so for an eSIM as well.

Though it is possible to deter such attacks by locking the SIM card to one’s phone (Telecom companies can also unlock phones), Leclere nevertheless points to the gold standard of using physical security keys. “These keys plug into your computer’s USB port, and some are near-field communication (NFC) enabled for easier use with mobile devices,” explains Leclere. “An attacker would need to not only know your password but physically take possession of this key in order to get into your account.”

Leclere points out that after mandating the use of security keys for employees in 2017, Google has experienced zero successful phishing attacks. “However, they’re so effective that if you lose the one key that is tied to your account, you will most likely not be able to regain access to it. Keeping multiple keys in safe locations is important,” he added.

Finally Leclere sa that in addition to using an authenticator app or a security key, a good password manager makes it easy to create strong passwords without reusing them across multiple sites. “A strong, unique password paired with non-SMS 2FA is the best form of account security,” he stated.


Pantera plans to raise $1.25B for second blockchain fund: Report

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said CEO Dan Morehead.

Dan Morehead, founder and CEO of Pantera Capital, reportedly said the hedge fund was planning to raise $1.25 billion for a second blockchain fund.

According to a Sept. 28 Bloomberg report, Morehead said Pantera aimed to close the blockchain fund by May. The fund will reportedly invest in digital tokens and equity in an effort to appeal to institutional investors.

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” said the Pantera CEO, according to the report.

Pantera Capital is seeking $1.25 billion for its second blockchain fund, founder Dan Morehead says

— Bloomberg Crypto (@crypto) September 28, 2022

Launched in 2013, Pantera was one of the first crypto funds in the United States at a time when the price of Bitcoin (BTC) was largely under $100. Morehead said in a 2019 interview that BTC had the potential to reach $356,000 by 2022. Pantera has since grown to have $4.5 billion in assets under management, according to its website.

Related: Pantera CEO bullish on DeFi, Web3 and NFTs as Token2049 gets underway

Should the reported second blockchain fund close as planned, it would follow Pantera’s launch of its first blockchain fund in May 2021, targeted at $600 million. Cointelegraph reported in April that the hedge fund was set to close the fund backed by roughly $1.3 billion — double its target. Pantera also offered a liquid token fund, an early-stage token fund, a BTC fund and venture funds with “exposure to companies building products and services in the nascent blockchain ecosystem.”


Bitcoin holds $19K, but volatility expected as Friday’s $2.2B BTC options expiry approaches

Traders expect an uptick in volatility due to the possibility of September’s $2.2 billion options expiry putting pressure on BTC price near a critical support level.

This week the $20,000 resistance is proving to be stronger than expected and even after Bitcoin price rejected at this level on Sept. 27, BTC bulls still have reasons to not give up. 

According to the 4-month-long descending triangle, as long as the $18,500 support holds, Bitcoin price has until late October to determine whether the downtrend will continue.

Bitcoin/USD 1-day price index. Source: TradingView

Bitcoin bulls might have been disappointed by the lackluster price performance as BTC has failed multiple times to break above $20,000, but macroeconomic events might trigger a rally sooner than expected.

Some analysts point to the United Kingdom’s unexpected intervention in the bond market as the breaking point of the government’s debt credibility. On Sept. 28, the Bank of England announced that it would begin the temporary purchase of long-dated bonds to calm investors after a sharp yield increase, the highest since 1957.

To justify the intervention, the Bank of England stated, “were dysfunction in this market to continue or worsen, there would be a material risk to U.K. financial stability.” Taking this measure is diametrically opposite to the promise of selling $85 billion in bond holdings within 12 months. In short, the government’s credibility is being questioned and as a result investors are demanding much higher returns to hold U.K. debt.

The impact of the government’s efforts to curb inflation are beginning to impair corporate revenues and according to Bloomberg, Apple recently backed off plans to increase production on Sept. 27. Amazon, the world’s biggest retailer, is also estimated to have shuttered plans to open 42 facilities, as per MWPVL International Inc.

That is why the $2.2 billion Bitcoin (BTC) monthly options expiry on Sept. 30 will put a lot of price pressure on the bulls, even though bears seem slightly better positioned as Bitcoin attempts to hold on to $19,000.

Most of the bullish bets were placed above $21,000

Bitcoin’s rally toward the $22,500 resistance on Sept. 12 gave the bulls the signal to expect a continuation of the uptrend. This becomes evident because only 15% of the call (buy) options for Sept. 30 have been placed at $21,000 or lower. This means Bitcoin bears are better positioned for the expiry of the $2.2 billion in monthly options.

Bitcoin options aggregate open interest for Sept. 30. Source: CoinGlass

A broader view using the 1.49 call-to-put ratio shows a skewed situation with bullish bets (calls) open interest at $1.26 billion versus the $850 million put (sell) options. Nevertheless, as Bitcoin currently stands near $19,000 and bears have a dominant position.

If Bitcoin price remains below $20,000 at 8:00 am UTC on Sept. 30, only $37 million worth of these call (buy) options will be available. This difference happens because there is no use in the right to buy Bitcoin at $20,000 or $21,000 if it trades below that level on expiry.

Bears could pocket a $350 million profit

Below are the four most likely scenarios based on the current price action. The number of options contracts available on Sept. 30 for call (bull) and put (bear) instruments varies, depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit:

Between $18,000 and $19,000: 500 calls vs. 19,800 puts. The net result favors bears by $350 million.Between $19,000 and $20,000: 2,000 calls vs. 16,000 puts. The net result favors bearish bets by $270 million.Between $20,000 and $21,000: 5,900 calls vs. 12,700 puts. The net result favors bears by $135 million.Between $21,000 and $22,000: 10,100 calls vs. 11,300 puts. The net result is balanced between bulls and bears.

This crude estimate considers the call options used in bullish bets and the put options exclusively in neutral-to-bearish trades. Even so, this oversimplification disregards more complex investment strategies.

Regulatory pressure could complicate matters for Bitcoin bulls

Bitcoin bulls need to push the price above $21,000 on Sept. 30 to balance the scales and avoid a potential $350 million loss. However, Bitcoin bulls seem out of luck since the U.S. Federal Reserve chairman called for “crypto activities” regulation on Sept. 27, alerting “very significant structural issues around the lack of transparency.”

If bears dominate the September monthly options expiry, that will likely add firepower for further bets on the downside for Bitcoin price. But, at the moment, there is no indication that bulls can turn the tables and avoid the pressure from the 4-month-long descending triangle.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

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