Bitcoin Price Weekly Analysis – BTC/USD To Recover above $15,000 225

Key Points

  • Bitcoin price traded lower this past week and tested the $12,600 support against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $13,800 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
  • The price has to break the $14,500 level and the 100 simple moving average to gain upside momentum.

Bitcoin price is stable above the $12,600 against the US Dollar. BTC/USD could soon gain momentum above $14,500 to move past $15,000 in the near term.

Bitcoin Price Upside Move

This past week was slightly bearish for bitcoin price as it moved below the $14,000 level against the US Dollar. The price traded lower and moved towards the $12,200 level. A low was formed at $12,670 from where the price started an upside move. It traded above the $13,000 level and the 23.6% Fib retracement level of the last decline from the $17,112 high to $12,670 low.

During the upside, there was a break above a major bearish trend line with resistance at $13,800 on the 4-hours chart of BTC/USD. The pair managed to move above the $13,900 level. However, the upside move was protected by the $14,000 level and the 100 simple moving average. Moreover, the 38.2% Fib retracement level of the last decline from the $17,112 high to $12,670 low also acted as a resistance. It seems like the price has to move above the $14,500 level and the 100 SMA to gain upside momentum.

Once there is a break above the $14,500 level, there are chances of it breaking the $15,000 level in the near term. The overall bias is stable above the $12,500 level with an initial support on the downside at $13,200.

Looking at the technical indicators:              

4-hours MACD – The MACD is showing a few positive signs of a trend change.

4-hours RSI (Relative Strength Index) – The RSI is struggling to move above the 50 level.

Major Support Level – $12,500

Major Resistance Level – $14,500

 

Charts courtesy – SimpleFX

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YouHodler Expands Web3 Fintech Innovation with the Launch of Native Utility Token $YHDL 66

YouHodler, a Swiss and EU-based Web3 fintech platform, is excited to announce the upcoming launch of its native utility token, $YHDL. Set to transform the YouHodler ecosystem, $YHDL will provide users exclusive rewards, reduced trading fees, and an enhanced experience across the platform.

The launch of $YHDL marks another milestone in YouHodler’s mission to bridge Web3 and traditional finance for all. Starting now, users in eligible countries can participate in the Airdrop campaign to earn $YHDL tokens by completing various tasks. By the end of 2024, $YHDL will be publicly listed on multiple online crypto exchanges.

Key Features of the $YHDL Token

  • Higher APYs: Starting as early as Q4 of 2024, $YHDL token holders will be able to obtain high APY on the $YHDL token depending on their loyalty level.
  • BTC Mining: Users can exchange their $YHDL tokens for Sparks (in-app points) and use them to mine BTC in YouHodler’s flagship BTC Cloud Miner. 
  • Future Perks: Moving forward, referral payouts will also be available in $YHDL tokens, along with a cashback feature for YouHodler’s upcoming Debit Card.

Airdrop Campaign

Starting now, users can complete tasks on platforms such as Zealy to earn a hefty token airdrop.

“The launch of $YHDL underscores our commitment to creating a Web3 financial ecosystem that’s accessible to everyone,” said Ilya Volkov, CEO and co-founder of YouHodler. “With $YHDL, we are not only providing exclusive rewards and innovative features for our community, but also shaping the future of Web3 finance for all.”

The official Token Generation Event (TGE) for $YHDL will take place following the completion of the Airdrop campaign.

About YouHodler

YouHodler is a Swiss and EU-based Web3 platform providing innovative fintech solutions that bridge fiat and crypto financial services with simplicity, efficiency, and transparency. Its comprehensive suite of offerings includes crypto-backed loans, crypto reward accounts, innovative crypto multiplication engines, and universal currency exchange. While user-friendly and intuitive for everyday consumers, the full-service platform is also progressive enough to conduct advanced strategic trading in the crypto market.

Switchere follows DeFi market surge with new listings of top DeFi tokens 60

Switchere, a prominent EU-based online cryptocurrency exchange service provider, has recently listed over 15 top-performing DeFi tokens amid the overall growth of the decentralized finance sector. By providing instant purchases of leading DeFi tokens, Switchere aims to offer its users a broader range of options for entering the rapidly evolving market of decentralized finance.

The DeFi sector’s recent trends and growing statistics

The decentralized finance (DeFi) sector has witnessed remarkable growth over the past few years, and the trend shows no signs of slowing in 2024. As of September 2024, the total value locked (TVL) in DeFi protocols exceeds $85 billion, according to the latest data from DefiLlama. This represents a 123% year-over-year increase, highlighting the sector’s resilience and growing market interest.

Several factors are driving this growth, including the rising adoption of decentralized financial services, innovations in decentralized exchanges, and the expansion of Layer-2 scaling solutions. As institutions continue to embrace DeFi, the sector’s appeal as a viable alternative to traditional financial systems has become undeniable.

Switchere expands DeFi offerings with a wide range of popular tokens

Following the overall positive DeFi market trend, Switchere has expanded its token offerings by listing some of the most popular and widely used DeFi tokens. Users can now easily purchase a variety of DeFi tokens on the platform, including:

  • Aave (AAVE)
  • Uniswap (UNI)
  • Compound (COMP)
  • Maker (MKR)
  • Synthetix (SNX)
  • Curve DAO Token (CRV)
  • SushiSwap (SUSHI)
  • Balancer (BAL)
  • Yearn Finance (YFI)
  • Liquity (LQTY)
  • 1inch Network (1INCH)
  • Ren (REN)
  • Ankr (ANKR)
  • Lido DAO Token (LDO)
  • Rocket Pool (RPL)

By offering a comprehensive list of DeFi tokens for instant purchases, Switchere allows its users to engage in the decentralized finance space by buying popular assets easily and securely.

Switchere offers flexible payment methods for seamless DeFi token purchases

Switchere stands out by providing users with multiple convenient payment methods, making purchasing DeFi tokens more accessible than ever. The platform accepts over 20 fiat currencies, including USD and EUR, and supports the following payment methods:

  • Open banking: This method is perfect for users who prefer making secure bank transfers without involving third-party payment processors. Open banking allows for real-time payments directly from bank accounts.
  • Bank cards (VISA, Mastercard, Maestro): Ideal for fast and secure payments, these cards provide a widely accepted method for buying DeFi tokens, making them a favorite for users who prioritize speed and ease of use.
  • SEPA bank transfer: A low-cost option for users in the European Union, SEPA offers seamless transfers between Eurozone bank accounts with high levels of security and low fees.
  • Apple Pay & Google Pay: For users who prioritize mobile payments, Apple Pay and Google Pay are excellent options. These methods offer quick and secure transactions via smartphone, providing maximum convenience for those seeking efficiency and ease of use.

About Switchere

Switchere is an EU-licensed product company that provides solutions for end users and businesses. Its core mission is to make cryptocurrency universally accessible, contributing to global financial inclusion. Switchere simplifies crypto-to-crypto payments, ensuring they are as easy and seamless as possible, and develops business solutions for a wide range of industries. Since its inception in 2019, Switchere has become a trusted partner to about 700,000 satisfied customers and several hundred partners across more than 160 countries.

Kayo Exchange Officially Launches: A No-Fee Cryptocurrency Platform Aiming to Redefine Digital Transactions 71

Kayo Exchange has officially launched, introducing a fee-free model for cryptocurrency trading that promises to disrupt traditional exchange structures. In a market where most platforms rely on transaction fees as a primary revenue source, Kayo Exchange offers a fresh approach, eliminating fees entirely to provide users with a more accessible and affordable trading experience. This launch marks the platform’s entry into an increasingly competitive cryptocurrency landscape, positioning itself as a user-centric solution designed to lower barriers to entry for digital asset trading.

A New Era for Cryptocurrency Transactions: No Fees, More Access

Cryptocurrency exchanges have long operated under fee-based models, charging users for every transaction, withdrawal, or service-related request. These fees, while standard across the industry, have often deterred smaller traders and limited wider participation in the market. By removing transaction costs, Kayo Exchange aims to make digital asset trading more inclusive, providing an environment where users can engage with cryptocurrencies without worrying about high fees cutting into their trades.

Kayo Exchange is built on cutting-edge technology, which allows the platform to maintain a no-fee model without sacrificing service quality. The platform’s infrastructure ensures secure and efficient transactions while adhering to the latest regulatory and security standards. This is particularly important given the rising concerns about cybersecurity in the digital asset space. Kayo Exchange employs advanced encryption techniques, real-time monitoring, and compliance with global standards to ensure that users’ assets and data are protected at all times.

The platform’s fee-free model also holds potential for increasing market liquidity and encouraging broader user participation. By eliminating one of the key financial barriers, Kayo Exchange aims to attract both new and experienced users, potentially fostering a more diverse and dynamic market environment. The removal of fees could lead to higher trading volumes and greater price stability, contributing to the maturation of the cryptocurrency ecosystem as a whole.

The Challenge of Sustainability: How Kayo Exchange Plans to Thrive Without Fees

One of the critical questions surrounding the launch of Kayo Exchange is how the platform intends to sustain operations without relying on transaction fees. Traditional exchanges generate significant revenue from these charges, and by eliminating them, Kayo Exchange will need to explore alternative income streams. The company has hinted at potential revenue sources, including premium features, strategic partnerships, and additional services that users can opt into for enhanced functionality.

Many industry observers are closely watching how Kayo Exchange will balance its user-first approach with the need for long-term financial sustainability. While the no-fee model is attractive to users, its success will depend on the platform’s ability to generate sufficient revenue from other areas to cover operational costs and future development. It remains to be seen whether this strategy can be a viable alternative to the traditional fee-based exchange model.

In addition to its focus on providing fee-free transactions, Kayo Exchange is dedicated to educating its users. Recognizing that lower barriers to entry also come with the risk of uninformed trading, the platform has invested in resources designed to help users understand the complexities of cryptocurrency markets. From beginner guides to advanced market analysis, Kayo Exchange aims to equip its users with the knowledge they need to make responsible trading decisions.

Kayo Exchange’s educational initiatives reflect broader trends in the cryptocurrency industry, where platforms are increasingly prioritizing user knowledge and responsible trading practices. As digital assets become more mainstream, the importance of well-informed participants cannot be understated. The platform’s commitment to transparency and user support could become a key differentiator in an increasingly crowded marketplace.

The launch of Kayo Exchange comes at a time when cryptocurrency adoption is expanding rapidly, but so too is regulatory scrutiny. As the platform grows, it will likely face increased attention from financial regulators, particularly regarding its revenue model and user protection practices. However, by adhering to industry-leading security protocols and maintaining a focus on user education, Kayo Exchange aims to build trust with both users and regulatory bodies.

With its no-fee model, strong technical foundation, and focus on user education, Kayo Exchange positions itself as a forward-thinking platform in the evolving cryptocurrency market. Its success could influence the wider industry, pushing other exchanges to reconsider their fee structures and adopt more user-friendly approaches. For now, Kayo Exchange is live and available to users worldwide, offering an alternative to the traditional fee-based cryptocurrency exchanges that have dominated the market.

ChainOpera Emerges from Stealth to Launch its Decentralized AI Platform and Generative AI Application Ecosystem 76

ChainOpera AI, the innovator in community-driven, decentralized AI, is stepping out of stealth to launch its decentralized AI platform and generative AI application ecosystem. Their mission is to build a simple, scalable, and trustworthy collaborative AI economy by connecting the demand for AI solutions with the massive supply of decentralized computing, high-quality data resources, and the contributions of AI developers and collaborators—paving the way for a truly open and decentralized AI future.

Despite its immense potential, decentralized AI has faced significant challenges in gaining traction, primarily due to a key bottleneck: the gap between the surging demand for AI from developers and users, and the availability of decentralized resources like computing, data, and contributors. While many recent web3 AI initiatives have focused on building large-scale decentralized infrastructure, this approach alone hasn’t been enough to gain real traction. AI developers typically interact with large foundation models via APIs and enterprise platforms, but until now, there hasn’t been a platform that fully supports decentralized AI from the ground up.

Salman Avestimehr, Co-founder and CEO of ChainOpera and Dean’s Professor of ECE and CS at USC, shared, “ChainOpera changes the game by unveiling an AI platform built specifically for collaborative AI on decentralized cloud infrastructure. Think of it as the decentralized equivalent of AWS Bedrock. ChainOpera empowers developers to build, train, and deploy top-tier AI models collaboratively by using decentralized resources, bridging the gap between AI innovation and the web3 ecosystem.”

In addition to its platform, ChainOpera is launching its decentralized AI app ecosystem, featuring powerful generative AI applications that operate on decentralized cloud infrastructure. From AI-powered assistants to image and video generation tools, these applications showcase the diverse capabilities of AI in a decentralized environment. Much more importantly, this opens up an “AI App Ecosystem” for developers to build and launch generative AI applications that leverage community-driven models and resources, providing more personalized, open, and affordable AI services. Users can also actively participate in these apps, monetizing their contributions by providing data or human feedback, further enhancing the collaborative and decentralized nature of the ecosystem.

While ChainOpera may be new, its founders, Prof. Salman Avestimehr and Dr. Aiden He, are veterans in the decentralized AI space. They began building FedML in 2020—a leading open-source framework for federated and decentralized machine learning, now used by thousands of developers and researchers globally, even surpassing Google’s TensorFlow Federated in popularity on GitHub.

In 2022, they co-founded TensorOpera to provide enterprise-grade generative AI services using decentralized technology. Through partnerships, such as with Qualcomm, TensorOpera has enabled businesses to deploy generative AI on multi-cloud, private cloud, and hybrid infrastructures, including Qualcomm’s AI100 Cloud.

Recently, the team introduced Fox-1, a cutting-edge open-source small language model (SLM) with 1.6 billion parameters. Trained in part on Aethir’s decentralized GPU infrastructure, Fox-1 competes with other small language models from industry leaders like Apple, Google, and Alibaba, highlighting the potential of decentralized large-scale model training. In addition to their compatibility with decentralized clouds, small language models like Fox-1 are set to power a new generation of hybrid mobile/cloud generative AI applications. These applications will provide personalized experiences through on-device models, while seamlessly tapping into more powerful cloud-based models for complex tasks.

The ChainOpera platform is open to developers to begin creating next-generation AI applications, and the AI App ecosystem already includes apps for chat-based AI agents and image and video generation.

To learn more about the ChainOpera AI Platform and its AI App Ecosystem, visit the website: https://chainopera.ai/

About ChainOpera

ChainOpera unites the worlds of AI and Web3 through a decentralized AI platform and a community-driven generative AI application ecosystem. With a focus on empowering both AI developers and end users, ChainOpera is building a simple, scalable, and trustworthy collaborative AI economy. By seamlessly linking the demand for AI solutions with decentralized computing power, high-quality data resources, and the expertise of AI developers and collaborators, ChainOpera is shaping the future of AI—one that prioritizes personalization, trustworthiness, and decentralization.

Wormhole Integrates Google Cloud Into Guardian Security System 79

Wormhole Foundation, the team supporting the development of the Wormhole platform, today announced Google Cloud as the newest addition to the Guardian Network. Wormhole’s Guardian Network is a decentralized set of highly-reputable validator nodes—including RockawayX, P2P, Figment, Everstake, among others—crucial for transaction verification. The Guardian Network is the backbone of the Wormhole ecosystem’s security and verification technology. As a Guardian Node, Google Cloud’s infrastructure strengthens the decentralized network, ensuring uptime while providing verification redundancy coverage across the entire Guardian set by immediately backfilling any Guardian that experiences downtime.

“Wormhole contributors are constantly working to improve Wormhole’s defense-in-depth security mechanisms. Our collaboration with Google Cloud will enable a platform-wide security upgrade that strengthens Wormhole’s decentralized Guardian Network,” said Dan Reecer, co-founder and COO of Wormhole Foundation. “Google Cloud brings the latest enhancement to Wormhole’s advanced security system to minimize downtime and unverified messages for thousands of application developers and users across over 30 supported blockchains.”

“Google Cloud’s collaboration with Wormhole demonstrates our investment to help scale the Web3 ecosystem by providing powerful computing systems to help the pioneers of Web3 build more securely and efficiently,” said Rishi Ramchandani, Head of Web3 APAC, Google Cloud. “Wormhole provides a universal, open source, and secure interoperability platform across the blockchain ecosystem making them a valuable partner that can maximize the full potential of our technology’s global scale.”

Wormhole’s defense-in-depth security strategy employs a multi-layered approach to safeguard cross-chain communications. The decentralized Guardian Network is reinforced by two critical components: the Global Accountant, which maintains strict 1:1 parity between native and wrapped assets across blockchains, and the Governor, which monitors and limits asset outflows to prevent cross-chain contagion. Together with rigorous auditing and open-source development practices, these mechanisms form a comprehensive security infrastructure that has established Wormhole as a trusted leader in interoperability and the only interoperability protocol unconditionally approved by the security experts of Uniswap’s Bridge Assessment Committee. The addition of Google Cloud to the Guardian Network will further these efforts, by adding security redundancy built on Google Cloud’s reliable, planet-scale infrastructure.

In addition to adding Google Cloud to the Guardian Network, this collaboration will further accelerate Wormhole’s ZK roadmap to optimize multichain security through extended research and product development. A key initiative will be strengthening provers for rapid, cheap, and trustless message verification that is uninterrupted across chains. With Google Cloud’s support, Wormhole is researching the addition of trustless ZK verification mechanisms in addition to the Wormhole Guardians. Google Cloud will also collaborate with Wormhole on the upcoming Wormhole “Sigma” Hackathon in Fall 2024, reinforcing the commitment of both teams in shaping the ZK ecosystem. This collaboration will bring the hackathon participants access to Google Cloud’s deep AI and Web3 expertise including credits, expert sessions from AI engineers, and access to latest technology & tools.

About Wormhole

Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.

The wider Wormhole network is trusted and used by teams like Circle and Uniswap. To date, the platform has facilitated the transfer of over 40 billion dollars through over 1 billion cross-chain messages.

About Wormhole Foundation

The Wormhole Foundation is the steward of Wormhole—the world’s first generalized messaging protocol. Our mission is to empower passionate people in researching and developing blockchain interoperability technologies. Through grants, research, and ecosystem programs, we seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem.

Crypto Plus offers influential sources, enhancing the capabilities of the crypto community 91

In the ever-evolving crypto landscape, Crypto Plus emerges as a reputable platform offering influential sources, and fencing capabilities of the crypto community. This channel plays a key role in improving and advancing the crypto market by offering solutions and specialized content, becoming a pioneer in this field.

With its creative and innovative management, which has become in trend due to its unique lifestyle in the digital and crypto world, Crypto Plus can positively impact user awareness and capabilities.

In addition, by gaining popularity, Crypto Plus achieves a special place among the global cryptocurrency community by offering a variety of educational and practical content, ranging from basic concepts to advanced trading techniques. As a reputable reference, this channel has successfully guided thousands of users on their journey to becoming professional traders, and through these efforts, it has become one of the pioneers in the trading education industry worldwide.

By offering specialized content and accurate information, this channel helps users make better decisions in the cryptocurrency market and step into this field with greater confidence. Crypto Plus has established its position as one of the top informational and analytical resources in the crypto market with a comprehensive and innovative approach.

Furthermore, the activities of this channel are accessible to all, playing a significant role in promoting the crypto market and creating new opportunities for investors and enthusiasts in this field. Through these efforts, Crypto Plus has introduced itself as one of the most influential and reputable sources in the world of cryptocurrency.

About Crypto Plus:

Crypto Plus, a top-tier definitive platform for financial empowerment and market dominance. With the latest progress, the channel also expanded its activities extensively in the United Arab Emirates, where it is currently implementing several major projects aimed at developing crypto infrastructure and increasing public awareness in this area. These projects are being carried out in collaboration with some of the most prominent financial and technological institutions in the region.

The channel’s manager, relying on his experience and expertise, is always striving to guide users on the path to success in the crypto market by providing innovative and practical solutions.

Telegram channel: CryptoPluser
Website link: https://crypto-pluser.org/