🌥 A timid sun will shine over Bitcoin and Dogecoin in the next 24 hours, signaling slightly bullish market conditions, while a strong sun ☀️ will shine over Ether and most other altcoins covered by ATTMO. This translates into a bullish market trend.

🌥 Over a one-week time horizon, Bitcoin is forecast to continue to profit from timid sunrays, while 🌧️ Ether is likely to face drizzle, signaling slightly bearish market conditions.

The trading signals available at 7:15 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies extended losses on geopolitical uncertainty

The cryptocurrency trend was negative over the past 24 hours, as geopolitical tensions in the Middle East continue to weigh on investors’ sentiment. The release of US non-farm job data later today may signal whether the Federal Reserve will proceed with an aggressive cut to its benchmark interest rate, as it has previously hinted. Analysts expect no change in job in September.

“As long as the U.S. economy stays strong, as the ISM non-manufacturing data indicates (last night 54.9), stocks and crypto should have room to rise,” 10x Research wrote in its daily comment.

“We believe this weakness is temporary, given the strong correlation between crypto and U.S. stocks. As U.S. equities recover, crypto is likely to follow. This correlation highlights that macroeconomic factors are currently the main drivers of risk asset prices,” the Singapore-based crypto firm QCP Capital echoed.

The price of Bitcoin dropped 0.6 percent to $61,003 over the past 24 hours, Trading View’s Bitcoin chart shows. It has fallen more than 6 percent over the past seven days due to concerns over the escalating situation in the Middle East. The price of ETH percent lost 1.2 percent to $2,368 over the past 24 hours.

Binance’s market dominance at four-year low

The market share of Binance has steadily dropped over the past months and is now at its lowest since September 2020, CC Data said in its monthly Exchange Review. Crypto.com profited, witnessing its market share rise to 11 percent in September, making it the fourth-largest exchange.

“Binance's spot trading volume dropped by 22.9% to $344bn, marking the lowest monthly spot volume on the exchange since November 2023... Binance’s overall market share now stands at 36.6%, also the lowest since September 2020.”

The price of Binance Coin shed 0.1 percent to $548 over the past 24 hours.

Solana set to rival Ether in real-world asset tokenization and stablecoin market

Solana, the fourth-largest cryptocurrency, has the potential to take on the pole position of the Ethereum blockchain in the real-world asset tokenization and stablecoin market, BSCN reports citing the Swiss crypto bank Sygnum. The advantages of Solana’s blockchain are its lower costs and faster transaction speeds.

The price of Solana declined 2.8 percent to $138 over the past 24 hours.

Ripple expands operations in Brazil

Ripple Labs, the issuer of the cryptocurrency XRP, has teamed up with Mercado Bitcoin, Latin America’s largest crypto exchange.

“Mercado Bitcoin will use [Ripple’s managed end-to-end payments] solution to improve its internal treasury operations between Brazil and Portugal, with plans to support international payments for its corporate and retail customers in the future,” Ripple Labs said. ”The solution will enable Mercado Bitcoin to “streamline operations, optimize liquidity, and ultimately improve margins through real-time payment settlement.”

The price of XRP shed 2 percent to $0.53 over the past 24 hours.

TRON’s Q3 income soar boosted by SunPump, exceeds those of Bitcoin & Ether

The third quarter revenues of TRON jumped, boosted by the interest for the memecoin generator SunPump on its blockchain. Almost 83,000 memecoins have been created by SunPump since it went live mid-August.

“The total revenue for Q3 is $577 million, the highest since the inception of the protocol, representing a 43% increase compared to Q2. We are confident that Q4 will see even more growth compared to Q3!” the founder of TRON, Justin Sun, said.
Major central & commercial banks to test live crypto transactions trial on Swift network

Leading central and commercial banks will as of next year carry out live trial crypto transactions on Swift. The payment network currently facilitates electronic messaging for cross-border transactions among financial institutions, connecting over 4 billion accounts across 200 countries and territories.

“For digital assets and currencies to succeed on a global scale, it’s critical that they can seamlessly coexist with traditional forms of money. With Swift’s vast global reach, we are uniquely positioned to bridge both emerging and established forms of value,” Swift’s Chief Innovation Officer, Tom Zschach, said.

Initial use cases will focus on payments, forex, securities, and trade, to enable multi-ledger delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions.

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DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.