Meanwhile, the US markets have closed again. We take a look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Next, we share the latest Ethereum Merge news and see how Tether (USDT) and Wall Street Journal are getting along. Finally, we share the tips the FBI has for DeFi investors and a very expensive lesson.
We begin, of course, with the live Bitcoin (BTC) price and the top 25 crypto prices.
Live Bitcoin (BTC) price and prices top 25 crypto drops
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 20,060.70 ($19,994.49). This is 0.77% lower than during our crypto update yesterday.
The prices of most other crypto in the top 25 are also negative. There are exceptions. For example, Near Protocol (NEAR) is posting the largest gain at +6.46%. OKB (OKB) currently records the largest loss at -5.66%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Crypto options investors bullish on Ethereum (ETH) Merge, Anthony Di Ioirio warns
When we talk about the founder of Ethereum (ETH), thoughts often turn to Vitalik Buterin. This is partly justified, as he was the initiator. However, more people were involved in the founding process. One of the co-founders is Anthony Di Ioirio. In an interview, he explains how Ethereum (ETH) was taken from idea to reality.
Of course, he also discusses the upcoming Ethereum Merge update which is undoubtedly the largest in the history of the coin. He warns that many parties will spread “noise” or rumors and fake news in the hopes of getting a piece of the expected price increases around the rollout of Ethereum Merge on September 15 or 16.
That there is a chance for a big price increase can be seen in the options market, where crypto investors are betting massively on price increases and are therefore going ‘long’. We can see this in the graph below.
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1/ The ETH options market has been on fire over the past two months. Option open interest continues to grow, demonstrating a high interest in ETH by market participants. We are now nearing the “Merge” event. pic.twitter.com/kEWe53YI46
– Chang (@4adybug) August 30, 2022
How quickly the price turns bullish is the question. Indeed, the live Ethereum (ETH) price is at $1,535.57, which is 0.57% lower than yesterday. However, there are indications that a price rise may follow, but with the next resistances at $1,650 and $1,725, the room for growth seems limited for now.
Tether (USDT) and Wall Street Journal fly in the face of each other
Earlier this week, the Wall Street Journal published a large article about the stable coin Tether (USDT), which has often come under fire. In the article the floor is wiped with the crypto currency. Doubts are raised about the coverage of the value of the coins. On the one hand, this is done by pointing out the lack of an audit, but on the other hand, because part of the coverage consists of investments in crypto, there would be a high risk of lack of coverage.
Today, Tether (USDT) responded with a counter article. In this article, they explain the course of events surrounding the coin, but also dispute some of the paper’s assertions and explain some (according to USDT) “falsehoods. It is striking that the WSJ’s arguments remain largely unanswered, but that they mainly focus on the circumstances and context.
This makes the WSJ article look a bit weak for a quality media, especially since factual errors are also mentioned. So the question now is why WSJ is attacking so vehemently and whether there will be another WSJ response to Tether’s (USDT) article.
FBI kicks in open DeFi door, expensive crypto error
In crypto, DeFi is one of the latest trends. This popularity is not only good for crypto investors, but also for cryptocriminals. The FBI is focused on fighting DeFi fraud and recently discovered that over $350 million was captured in 3 major frauds. So it issued a press release tonight with 4 fraud prevention tips for investors, and frankly, they’re pretty gnarly. We name them below:
Do proper research on DeFi projects before investing in them;
Check to see if there has been a code audit;
Be extra careful if you have limited time to invest (the famous now-or-never trick);
Be aware of crowdsourced solutions.
As far as we are concerned, this is kicking down an open DeFi door.
Of course, this is not to say that nothing ever goes wrong. For example, the developers of OptiFi, a DeFi project on the Solana (SOL) blockchain announced that during a routine update they accidentally permanently closed the entire protocol.
This caused the project to end rather abruptly and some $661,000 disappeared. The people behind the project blame unclear instructions from Solana (SOL) and promise to compensate injured parties within 14 days. Solana (SOL) owners seem unimpressed for the time being. At $31.47, the live Solana (SOL) price is down 1.44% from yesterday and that does not deviate from the trend for most other crypto in the top 25.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time.
Note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.