News

🤔 Is Pavel Durov Relase Nears As UAE Suspends $10B Deal With France?

France faces intense pressure to release Telegram CEO Pavel Durov as the UAE suspends a $10 billion jets purchase contract.

The UAE has taken a critical decision to put on hold a contract to purchase fighter jets from France in response to the detention of Telegram CEO Pavel Durov. The UAE foreign ministry had also requested the French government to provide consular services to Durov immediately, assisting with his release from police custody after a surprise arrest on Saturday.

📈 Bitcoin Miner Buys Microstrategy Shares As MSTR Stock Outperforms S&P 500

Bitcoin mining company Vortex Brands has recently added MicroStrategy (MSTR) stocks in its balance sheet as the stock topped S&P 500 list.

Bitcoin mining company Vortex Brands (VTXB) has recently set the crypto town abuzz, revealing its purchase of MicroStrategy (MSTR) stocks. The company underlined this investment as a strategic decision on Wednesday. Meanwhile, the stock accumulation promptly reverberated optimism for the American company throughout the broader industry, aligning with the its recent top ranking in the S&P 500.

🚀 WLUNC Soars 25% As Terra Opens Shuttle Bridge, LUNC Price To Rally Next?

WLUNC surges 28% as Terra Classic reopens Shuttle Bridge, enabling asset transfers and enhancing platform liquidity.

Wrapped LUNA Classic (WLUNC) has seen a 28% upswing in its price following the reopening of Terra Classic’s Shuttle Bridge. The Shuttle Bridge reopening enables users to transfer their LUNC and USTC assets bridged from networks such as the Ethereum mainnet, BNB Chain (BSC), and Harmony back to Terra Classic.

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Markets

📊 Crypto Prices Today August 28: BTC Pulls Back To $59K, Major Altcoins Sink

BTC price wanes to $59K. The global crypto market cap plunges nearly 5%, while Altcoins plummet in sync.

The crypto prices today have raised bearish investor concerns globally, reversing recent gains. Bitcoin (BTC) price pulled back to the $59K level in the past 24 hours, whereas the global crypto market cap plunged over 5% to $2.09 trillion. Further, altcoins Ethereum (ETH), Solana (SOL), and XRP prices cracked 4%-8% over the past day.

However, the total market volume witnessed a 32.16% increase in value to $86.67 billion. Here’s an overview of the top cryptocurrencies by market cap and their price run today, August 28.

📉 Ethereum Foundation Dumps 35K ETH, ETH Price Plunges 12%, Recovery Ahead?

The 12% selloff in Ethereum price on August 27 can be linked to Ethereum Foundation's August 23 transfer of 35K ETH worth $94 million.

Ethereum price saw a strong selloff on August 27 in the late US session and was in line with broader crypto market corrections. One key aspect that stood out for ETH investors is the August 23 transfer of 35,000 ETH from the Ethereum Foundation. This is not the first time the entity behind Ether has transferred and sold ETH from its holdings. Every time such a transfer was noted, Ethereum price suffered a fatal crash.

⚠️ Altcoins Flash “Sell Your House” Buy Signal As Bitcoin Slips Below $60k

Despite the recent decline in the broader market, signals suggest a potential strong rebound for altcoins, similar to patterns seen in the year 2020.

Altcoins took a big blow in the wee hours of Wednesday morning after Bitcoin price slipped below the $60,000 support level. The total crypto market cap dropped by 6.7% as alts witnessed double-digit losses. Nevertheless, several tokens have shown promise of rebounding as whale activity increased, giving investors a reason to “sell their houses” and bag more tokens.