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Fourth-Largest Swiss Bank Offers Bitcoin

Published

2 weeks ago

September 8, 2024

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BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into evolving regulatory environment, adoption rates, major industry events, and market movements.

This week’s roundup highlights Zürcher Kantonalbank’s new crypto service, the signing of the world’s first international AI treaty by the UK, EU, and US, along with other key stories.

German Police Issues Warning About New Bitcoin Scam

The Bavarian State Office of Criminal Investigation (LKA Bayern) has issued a warning about a new crypto fraud. Scammers have been leaving plastic bags around Munich with fake Bitcoin account access codes and payment receipts.

The scam involves eye-catching bags left in public areas like streets and park benches. Inside, victims find a receipt labeled “Bitcoin,” claiming to be worth 10,000 euros, along with a paper wallet — a slip of paper containing data for a crypto wallet, including a QR code.

Scanning the QR code redirects victims to a fake website that promises a payout in exchange for a 3% fee. However, the payment doesn’t go through, causing the person to lose money. Victims may attempt the process multiple times, compounding their losses.

The LKA Bayern spokesperson warned that victims could unknowingly face legal repercussions. Scanning the QR code alone could be viewed as an attempt to fraudulently obtain someone else’s money, potentially resulting in charges of attempted fraud. Authorities will evaluate each case individually, but they recommend turning the bags in to the police immediately.

Investigators have not yet identified any suspects, and scammers seem to be distributing the paper wallets randomly in high-traffic areas, without a clear pattern. Authorities urge the public to remain cautious and report any suspicious findings to local law enforcement.

Switzerland’s Fourth-Largest Bank Launches New Crypto Service

Zürcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, has introduced a new service allowing retail customers to buy, sell, and hold Bitcoin and Ethereum. This offering is made possible through a collaboration with Crypto Finance, a digital assets broker owned by Deutsche Börse. Customers can access BTC and ETH via ZKB’s Mobile App, eBanking platform, and other existing channels, the bank announced in a press release on Wednesday.

Switzerland has long been a leader in the digital asset space, with many financial institutions providing cryptocurrency trading services. ZKB is no newcomer to crypto market. In 2021, the bank was involved in issuing the world’s first digital bond on Switzerland’s SIX Digital Exchange (SDX).

“When it comes to cryptocurrencies, Zürcher Kantonalbank takes on the critical function of securely storing the private keys,” said Alexandra Scriba, ZKB’s head of institutional clients and Multinationals. “Customers and third-party banks do not need their own wallet and therefore do not have to worry about storing their own private keys. Zürcher Kantonalbank takes care of both.”

This new service also allows other Swiss banks to offer cryptocurrency trading and custody to their clients. Thurgauer Kantonalbank is the first partner bank to adopt the service.

EU, UK, and US Sign World’s First International AI Treaty

The US, EU, and UK signed the world’s first international AI treaty on September 5, aiming to protect human rights and hold AI systems accountable for any harm or discrimination they cause. While the treaty sets important standards, penalties like fines for violations haven’t been introduced yet.

“This Convention is a major step to ensuring that these new technologies can be harnessed without eroding our oldest values, like human rights and the rule of law,” Britain’s justice minister, Shabana Mahmood, said in a statement.

The European Union has already made significant progress in regulating AI with the AI Act, which came into effect in August. This new law will help control the development and use of advanced AI models, especially those with powerful computing capabilities. However, the act has been controversial.

Companies like Meta, which owns Facebook, claim the rules are too strict and are hurting innovation. In fact, Meta has paused the release of some of its latest AI products in Europe due to the complex regulations.

Despite these complaints, the EU is pushing ahead, setting a strong example for AI regulation. The AI Act is seen as a major step in ensuring that AI technologies are developed responsibly and safely, especially as more countries look to regulate this rapidly growing field. European leaders believe their approach will become a global benchmark for balancing technological advancement with ethical and legal protections.

French City Rouen Now Offers Bitcoin Payments for Groceries

France is seeing a growing number of businesses accepting cryptocurrency payments, with the latest addition being a supermarket in Rouen.

This week, Carrefour Express in Rouen made headlines by becoming one of the first supermarkets in France to accept Bitcoin. Customers can pay using the Swiss app Bridge Wallet, similar to Revolut, which facilitates crypto transactions. The system utilizes the Lightning Network to minimize transaction fees, making it fast and cost-effective.

Rouen isn’t alone in embracing crypto payments. While this may be a first for the city, several hundred establishments across France now accept cryptocurrencies. Major hubs like Paris, Nantes, and Lyon lead the way. In Lyon, initiatives like the Comptoir Brunet restaurant and Bitcoin Lyon broker are actively promoting crypto adoption.

With these developments, crypto payments are becoming more accessible across the country, bringing France closer to a future where digital currencies play a larger role in everyday transactions.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Will Toncoin (TON) Price Break Above $5?

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Market

Will Notcoin Price Break This Key Resistance?

Published

58 mins ago

September 19, 2024

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Like other altcoins in the market, Notcoin (NOT) has seen a price increase in the last 24 hours. Within the period mentioned, NOT has jumped by 8% while its volume has surged 85%, indicating growing interest in the Telegram coin.

With market volatility at a high level, Notcoin faces a crucial momentum that could determine its short-term movement. If NOT fails to break through this key resistance, it risks facing a significant correction that may send its price tumbling.

Notcoin Encounters Challenges

Notcoin is currently trading at $0.0078, still 73% below its all-time high. Despite recent gains in price and volume, which suggest a potential rally, the 4-hour analysis indicates the token could face challenges as it targets $0.011.

The 4-hour chart shows that Notcoin is working its way toward $0.0080, but this level has previously acted as resistance, where the coin faced rejection. If Notcoin fails to break above this price level, it could see a 10% correction. In this case, its value might drop to $0.0072.

Read more: 5 Top Notcoin Wallets in 2024

Notcoin 4-Hour Analysis. Source: TradingView

An evaluation of Notcoin on the daily timeframe shows its Relative Strength Index (RSI) remains below the neutral 50.00 mark. The RSI is a momentum indicator that tracks the speed and size of price changes.

If the RSI moves above the midpoint, it signals bullish momentum and a potential price increase. Conversely, a decline in the RSI suggests weakening momentum.

For Notcoin, the RSI is rising but still below the signal line, indicating the uptrend is uncertain. The token’s upward movement will likely remain shaky unless bulls apply more pressure to push the price higher.

Notcoin Relative Strength Index. Source: TradingView

NOT Price Prediction: Rally Could Stop

Furthermore, the Fibonacci retracement indicator provides insights into NOT’s next movement. From a short-term perspective, bulls might try to break above $0.0085. However, around the same region, Notcoin began a decline that pulled it down to $0.0072 on September 6.

As such, that region is a supply zone that requires notable buying pressure to surpass. Currently, it does not appear that Notcoin has the notable capital flow to keep the upswing going.

Notcoin Daily Price Analysis. — Notcoin Daily Analysis. Source: TradingView

In a highly bearish scenario, Notcoin’s price could drop to $0.0072 and possibly as low as $0.0069. On the other hand, if the token manages to break above the $0.0080 and $0.0085 resistance levels, it could potentially surge to $0.011.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Why 2024 Altcoin Season Could Fuel a Rally in These 6 Tokens

Published

2 hours ago

September 19, 2024

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Crypto investors and analysts support that the 2024 altcoin season may have just started, drawing signals from multiple fundamentals, including Bitcoin’s (BTC) sustained foray above $63,000.

The optimism comes after the Federal Open Market Committee (FOMC) decided a 50 basis points interest rate cut in September, suggesting the US economy is in a good place.

Crypto Banter Founder Highlights Tokens Primed for Altcoins

Crypto Banter, a popular YouTube channel with over 1.08 million subscribers, says the 2024 altcoin season is beginning. Its founder, Ran Neuner, cites the Federal Reserve’s (Fed) interest cut on Wednesday, increasing global liquidity and the all-time high seen in the money market funds. With this, he lists six tokens that are best positioned to rally if the altcoin season takes off.

SUI

The analyst starts by highlighting Sui (SUI) as a standout token, noting its rising prominence in the market, even posing a threat to Solana (SOL). SUI has been making headlines with major partnerships, including Circle’s USDC integration. Grayscale also recently launched a Sui Trust, which has driven a significant increase in both price and trading volume.

Ran Neuner believes these strong fundamentals position SUI for success in the short term, especially if an altcoin season unfolds.

FTM

The analyst also highlights Fantom (FTM) as a promising altcoin, noting its strong price performance. FTM has gained attention after recent internal developments, including the rebrand to Sonic Labs in August.

The rebrand has sparked renewed investor interest, positioning Fantom for further growth. Sonic Labs is building on this momentum with the launch of Sonic Gateway, a decentralized bridge that enables secure ERC-20 token transfers between Ethereum and Sonic.

This development has provided a boost for FTM, which has risen by 10% since the Thursday session began, trading at $0.33, according to BeInCrypto data.

IMX

ImmutableX (IMX) is also on Crypto Banter’s list of altcoins poised to rally on a possible alt season. The gaming token has broken above a falling wedge pattern, effectively confirming a reversal. Based on this breakout, analysts expect a bullish wave.

IMX Price Performance — IMX/USDT 2-day chart, Source: TradingView

AERO

The portfolio rebalancing also considers Aerodrome (AERO), as the central trading and liquidity marketplace continues to thrive on Base L2. The underlying fundamental for AERO is Aerodrome’s MetaDEX model, which combines the best aspects of previous decentralized exchange market leaders.

“When we assess Aerodrome’s implied outcomes through a model, it’s evident that token inflation, in itself, is not inherently bad. Instead, emissions are just one input into an economic model—a cost that can be managed and overcome,” a DeFi researcher echoed.

SOL

If the assumption proves accurate, Solana (SOL) may be gearing up for a strong rally, given its history of delivering impressive gains during altcoin market surges. Solana has often outperformed when broader altcoin momentum picks up, making it a key player to watch.

Currently, SOL is trading at $141.53, marking a 10% increase in the last 24 hours, according to BeInCrypto data.

OM

MANTRA (OM) earns a spot on the analyst’s list due to the upcoming launch of its mainnet in October. This event is expected to be a major milestone for the project, as it will bring real-world assets (RWA) on-chain. The mainnet launch will be a crucial step in integrating traditional finance (TradFi) into the blockchain ecosystem, creating new opportunities for MANTRA’s growth.

Ran Neuner also highlighted several other tokens that could see strong rallies, including Arweave (ARV), THORChain (RUNE), Render (RNDR), Crown by Third Time Games (CROWN), and SuperVerse (SUPER). These tokens have posted steady, conservative gains despite recent market uncertainty, positioning them for larger increases if an altcoin season takes off.

However, Neuner advises investors to keep an eye on the Bank of Japan’s (BOJ) CPI and interest rate decision on Friday. He warns that if the BOJ raises rates, it could disrupt the current rally, potentially leading to a market reversal. On the other hand, if the BOJ cuts interest rates, it could reinforce the ongoing upward momentum.

“Don’t get overconfident. We need good CPI out of Japan tomorrow and for BOJ not to raise rates on Friday. September still has some potential liquidity drains so don’t lever up to the gills, just 8 more days until it is really up only,” GamesMasterFlex wrote.

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Will NEIRO Price hit $0.17 soon?

Published

3 hours ago

September 19, 2024

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After a brutal 45% plunge triggered by Binance’s actions, Neiro Ethereum (NEIRO) is making a remarkable comeback. The meme coin has surged by an impressive 51% in the past 24 hours, outpacing the broader meme market.

With a resurgence in demand for NEIRO, the meme coin looks poised to extend its gains.

Neiro Ethereum Makes Its Comeback

BeinCrypto reported that NEIRO saw a sharp 45% price drop on Monday after Binance listed a different token with the same NEIRO ticker on its spot and futures markets.

However, the broader market’s positive sentiment over the past 24 hours, fueled by the US Federal Reserve’s rate cut, sparked a strong recovery for NEIRO. At press time, the altcoin is trading at $0.11, up 51%, with trading volume surging 53% to $93 million.

This rally has significantly boosted the number of profitable NEIRO transactions. Santiment data shows the ratio of transaction volume in profit to loss is now 3.66, its highest since the token’s July launch. This means that for every transaction at a loss today, 3.66 have turned a profit.

NEIRO Ratio of Daily On-Chain Transaction Volume in Profit to Loss. Source: Santiment

NEIRO traders remain bullish, with the altcoin’s funding rate at 0.01%, indicating higher demand for long positions among futures market participants.

neiro funding rate — NEIRO Funding Rate. Source: Santiment

NEIRO Price Prediction: Higher Demand May Push Token To $0.17

NEIRO’s Relative Strength Index (RSI) on the four-hour chart confirms the growing accumulation of the altcoin. At 59.07, this momentum indicator suggests market conditions are leaning toward buying rather than selling.

If buying pressure continues, NEIRO’s uptrend could persist, with the potential to rise another 46% and reach $0.17.