In partnership with

Learn from investing legends

Warren Buffett reads for 8 hours a day. What if you only have 5 minutes a day? Then, read Value Investor Daily. We scour the portfolios of top value investors and bring you all their best ideas.

Subscribe with one click.

Breaking Crypto Stories

Here are the top stories today:

• Coinbase CEO Oversees First AI-Managed Crypto Transaction

• Telegram's Digital Asset Holdings and Revenue Surge Amid Legal Scrutiny

• Former FTX Co-CEO Ryan Salame Ordered to Court Amid Legal and Sentencing Developments

🧠Coinbase CEO Oversees First AI-Managed Crypto Transaction

Coinbase CEO Brian Armstrong has overseen a pioneering crypto transaction managed entirely by AI bots, highlighting advancements in AI’s ability to autonomously conduct financial transactions through new platforms.

• Coinbase CEO Brian Armstrong facilitated his first crypto transaction fully managed by AI bots, marking a significant advancement in AI transaction capabilities.

• AI agents used tokens to buy other tokens, showcasing their potential in executing complex financial tasks autonomously.

• Recent developments include new platforms by Skyfire and Biconomy that enable AI agents to handle on-chain transactions and autonomously spend crypto.

📱Telegram's Digital Asset Holdings and Revenue Surge Amid Legal Scrutiny

Telegram ended 2023 with $400 million in digital assets and significant revenue from crypto activities, despite facing legal challenges for its CEO and scrutiny over its involvement in digital asset markets and collectibles.

• At the end of 2023, Telegram held $400 million in digital assets, with approximately $148 million (40% of its annual revenue) coming from digital asset-related activities, including an integrated wallet and sales of collectibles.

• Telegram's revenue from digital assets includes sales of Toncoin tokens and other virtual collectibles, despite recent legal issues for CEO Pavel Durov, who faces indictment in France over allegations of aiding illicit activities.

• The messaging app, now valued at $30 billion and supported by $2.3 billion in funding, has become a hub for crypto games and continues to expand its role in the digital asset space.

🧑‍⚖️Former FTX Co-CEO Ryan Salame Ordered to Court Amid Legal and Sentencing Developments

Former FTX co-CEO Ryan Salame must appear in court on September 12 following the withdrawal of his petition to overturn his guilty plea, as legal troubles continue over campaign finance violations involving FTX funds and his partner, Michelle Bond.

• Federal Judge Lewis Kaplan has mandated former FTX co-CEO Ryan Salame to appear in court on September 12, 2024, as a condition of his bail release, despite his withdrawal of a petition to vacate his guilty plea.

• Salame's sentencing was postponed from August 29 to October 13 due to medical issues from a dog bite. His legal team initially sought to vacate the plea, alleging an agreement not to investigate his partner, Michelle Bond, who was subsequently indicted for campaign finance violations.

• The indictment reveals that Salame and Bond allegedly used FTX funds to illegally support Bond’s 2022 congressional campaign. Salame’s case and potential plea impacts ongoing proceedings for other FTX executives facing similar legal issues.

Meme of the Day

Potential Trade Opportunities

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Ethereum (ETH)

Ethereum Bears vs. Bulls: Who Will Win the Battle at Critical Resistance?

Price Movements: Ethereum (ETHUSDT) has recently been in a consolidation phase, with prices hovering around the $2,526 level. Despite minor fluctuations, the market has shown stability, indicating a potential pause before a more significant movement. The short-term momentum remains slightly bearish, as the 9 EMA stays below the 20 EMA, although the gap is narrowing, hinting at a possible reversal. Additionally, the MACD indicator shows a gradual shift towards bullish momentum, with the MACD line approaching the signal line and increasing histogram values suggesting decreasing bearish pressure.

Key Levels to Watch: Traders should closely monitor the $2,527.6 resistance level, as a breakout above this could signal a move towards higher resistance levels at $2,575.97 and $2,620.4. On the downside, key support levels are located at $2,437.02, $2,342.8, and $2,290.57. A breakdown below these support levels could indicate a continuation of the bearish trend, potentially leading to further declines in the Ethereum price.

Trade Strategies: For traders looking to capitalize on these movements, long positions could be considered if Ethereum breaks above the $2,527.6 resistance level, with a target towards the $2,575.97 and $2,620.4 levels, while placing a close stop-loss below $2,527.6. On the other hand, short positions may be more favorable if the price fails to hold above the $2,437.02 support level, aiming for lower support targets at $2,342.8 and $2,290.57. In both scenarios, traders should remain cautious and monitor technical indicators for confirmation of the trend before making any moves.

Notcoin (NOT)

Notcoin Price Struggles at Key Support: What Traders Need to Know

Price Movements: Notcoin's recent price action suggests a potential consolidation phase amid ongoing bearish pressure. The closing prices indicate that the market is struggling to maintain upward momentum, with the 9-period EMA currently below the 20-period EMA. This alignment typically signals weakening short-term momentum, and the narrowing MACD histograms suggest that bearish momentum might be losing steam, potentially setting the stage for a reversal or further consolidation.

Key Levels to Watch: The critical support level to monitor for Notcoin is around $0.0083. If this level holds, it could provide a foundation for a short-term rally toward the resistance level at $0.0090. A break above this resistance could signal a bullish shift, with the next target being $0.00907. Conversely, if the $0.0083 support fails, prices could move lower, with the next support likely around $0.0080 or below.

Trade Strategies: For traders looking to go long, entering around the current support level with a target near $0.0090 could be viable, provided they use tight stop-losses to manage downside risk. For those favoring short positions, waiting for a confirmed break below the $0.0083 support level may offer a safer entry, with potential targets around $0.0080 or lower, depending on the continuation of bearish momentum.

Dogecoin (DOGE)

Dogecoin Faces Crucial Test: Can DOGE Break Above $0.10198 Resistance?

Price Movements: Dogecoin (DOGE) is showing signs of potential consolidation on the 4-hour chart, with its price currently hovering around $0.1017. The recent price action suggests a balance between bullish and bearish forces, with the 9-period EMA slightly trailing the 20-period EMA. This setup indicates mild bearish momentum, though the narrowing gap between these moving averages hints at a possible shift towards a bullish trend if the 9 EMA crosses above the 20 EMA.

Key Levels To Watch: Traders should keep a close eye on several critical levels. On the upside, DOGE faces resistance at $0.10198, with further resistance at $0.10358 and $0.1043. A break above these levels could signal a stronger bullish move. On the downside, key support levels lie at $0.10169, $0.10059, and $0.09985. If DOGE fails to hold above these support zones, it could lead to increased selling pressure and a deeper correction.

Trade Strategies: For those looking to enter a long position, a break above $0.10198 with strong volume could be an ideal entry point, targeting resistance at $0.10358 and $0.1043, with a stop-loss just below $0.10169. Conversely, short sellers might consider entering on a break below $0.10169, aiming for targets at $0.10059 and $0.09985, with a stop-loss placed just above $0.10198 to manage risk.

This cannabis startup pioneered “rapid onset” gummies

Most people prefer to smoke cannabis but that isn’t an option if you’re at work or in public.

That’s why we were so excited when we found out about Mood’s new Rapid Onset THC Gummies. They can take effect in as little as 5 minutes without the need for a lighter, lingering smells or any coughing.

Nobody will ever know you’re enjoying some THC.

We recommend you try them out because they offer a 100% money-back guarantee. And for a limited time, you can receive 20% off with code FIRST20.

Shop Now.

ICYMI:

• Bitcoin Supply on Exchanges Hits New Low, Paving the Way for Potential Price Surge Above $60,000

• Singapore Takes the Lead in Global Crypto Adoption, Outpacing Hong Kong and UAE

• Elon Musk and Tesla Win Dismissal of $258 Billion Dogecoin Manipulation Lawsuit

Start Trading Now!

Looking to get in on the trade opportunities mentioned above? Register on Binance today to start trading crypto on one of the most liquid exchanges in the industry!

Don’t Want to Sit Behind Screens All Day?

Trading the markets is tough, and requires an extreme level of dedication. This is why Binance has made it easy to Dollar cost average into crypto! Find out how to get started here: Dollar Cost Averaging on Binance: A Guide to Investing

To make your crypto work for you, find out how to stake on Coinbase.

Thank you for reading!

Thank you for reading our newsletter! If you liked what you read, please share it with your friends!