DeFi Doom Continues..?

Hey Crypto Geeks ??

Voice of Crypto's Weekly Newsletter?

?Asynchronous

Here’s what we’ve got for you:

• Market Pulse
• Biggest Web3 Stories
• Top Video of the Week
• Featured Web3 Event

Market Pulse - BTC ??

August 2023 left Bitcoin at a delicate crossroad.

Bitcoin had been consolidating around the $29,000 zone since late June, ranging between $29,800 and $31,500.

Finally, some time around mid-August, the bulls lost the battle, letting the bears push Bitcoin’s price to the $25,000 zone.

Bitcoin price at press time was at $25,999 down 4.48% over the last day.?

With the larger part of the crypto market recording no impressive price action, the global crypto market cap sat at $1.05 trillion, a 3.50% decrease over the last day. ????

The total crypto market volume over the last 24 hours is $38.09 Billion, which makes a 36.54% increase. The total volume in DeFi as the week ends sat at $2.54 Billion, 6.68% of the total crypto market 24-hour volume.?

The volume of all stable coins was at $36.2 Billion, which is 95.04% of the total crypto market 24-hour volume.????

Furthermore, Bitcoin’s dominance at press time was 48.37%, a decrease of 0.48% over the day.

Ethereum, following BTC’s footsteps had fallen to $1,642.57 noting a 3.65% decrease over the last day. ETH price much like the rest of the crypto market looked largely bearish.?

Given the current market conditions, it's worth noting that the Bitcoin Fear and Greed Index is indicating FEAR, suggesting that investors are approaching the situation with caution. ????

Biggest Web3 Stories

5 Things That Could Affect Bitcoin Price in September 2023

• Bitcoin’s performance in August was exceptionally poor, and September doesn’t look different. A crash to $22,000 or lower is possible.
• Bitcoin is reacting less and less to macroeconomic conditions, despite September being an action-packed month.
• Bitcoin’s rising hash rate could be a saving grace, as it could lead to a miner bull run.
• Bitcoin whales aren’t buying yet, which means that the recent price surge may have been a trap. Read the full story here

Top Bitcoin Address Suspected Of $265M Money Laundering Scheme

• A top Bitcoin address has been connected to a massive $265M money laundering scheme.
• The address received 9999.99 Bitcoin from Binance in 2018 and may have since been used to launder money through multiple blockchain mixers.
• The funds were spread out across smaller deposits to avoid detection.
• The address also used a Bitcoin mixer to jumble up its transaction history and make transactions harder to track.
• The address is now empty after sending 9,999 BTC to several smaller addresses in a single day. Read the full story here

DeFi Exploits Plague Crypto: What was Behind Balancer’s $900K+ Loss

• Another decentralized finance (DeFi) exploit has hit the crypto market, with Balancer the latest victim.?
• Balancer, a DeFi platform, loses almost $900k to a hack
• The hack occurred days after the company public disclosed some vulnerabilities in its system
• Some funds were rescued through emergency procedures, but others are at risk.
• The Ethereum-based DeFi protocol was exploited and almost lost $900,000. Read the full story here

1inch Investment Fund Makes Strategic ETH Investment, Profits $10M

• 1Inch Investment Fund has been buying and accumulating massive amounts of ETH since January this year.
• They have made a profit of $3.7 million by selling 11,000 ETH tokens at an average price of $1,906.
• They have spent another $10 million this week, on another 6,088 ETH at an average price of $1,655.
• Ethereum is currently sitting on the $1,640 support, which 1Inch believes to be a fairly strong support.
• 1-Inch may be betting on Ethereum consolidating for a while at $1,640 and then travelling further upwards from here. Read the full story here

PEPE’s Bumpy Ride Against The Tide: Will PEPE Price Go To Zero?

• PEPE was launched in April and quickly reached a market cap of $1 billion in just two weeks.
• However, it has since declined by 80% from its all-time high.
• This decline is likely due to several factors, including the overall bear market in cryptocurrencies and some shady on-chain activity involving the project’s founders.
• It is still too early to say whether PEPE is a scam or not. However, it is important to do your own research before investing in any cryptocurrency. Read the full story here

VOC Top Video of the Week

10 Cryptocurrency Trading Secrets for Beginners | From Novice to Pro: Crypto Bitcoin BTC ETH Trading

Are you ready to dive into the exciting world of cryptocurrency trading? ?? Whether you're a complete beginner or looking to up your trading game, this video is your ultimate guide! Join us as we unveil 5 insider secrets that will take you from a novice to a pro-crypto trader.?

From mastering the basics of Bitcoin (BTC) and Ethereum (ETH) trading to understanding market trends and risk management, we've got you covered. Stay ahead of the curve and unlock the potential of cryptocurrency markets with these proven strategies.?

Don't miss out on this essential knowledge – watch now and embark on your journey to becoming a skilled crypto trader! ???? Watch to know more

That’s a wrap for today!

We are thrilled to announce that we are in the process of creating an alpha newsletter, set to be launched very soon! Subscribe to our newsletter to gain an early advantage and stay ahead of the curve. Click here: https://voiceofcrypto1.substack.com

Don’t forget to follow VOC for the latest news and Analysis, and keep up with our content on Twitter, Facebook, Instagram, and LinkedIn. For the latest video and daily wrap, subscribe to our YouTube Channel.