Daily Crypto News

1. Australia establishes federal crypto police unit — The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit cryptocurrency linked to money laundering and other criminal activity, the Australian Financial Review (AFR) reported Monday.
2. Bitcoin’s no longer the king of the swingers — Bitcoin’s been called a lot of things. Buzzy, beguiling, baffling, even bogus. But never boring. Yet, of late, it’s been eerily subdued. The king of the swingers has been uncharacteristically treading water for days at around $20,000 and hasn’t ventured far beyond that since June.
3. Singapore’s DBS commits to crypto offerings despite slump — Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday.
4. NFT Software Company Dust Labs Raises $7M During y00ts Release — Non-fungible token (NFT) software company Dust Labs has raised a $7 million funding round, announced during the pandemonium for its Solana-based y00ts NFT minting on Monday.
5. Crypto Traders See Escape From Tightest Range in About Two Years — Based on one gauge, the leverage ratios for the two largest tokens by market value — Bitcoin and Ether — are at the highest on record even with prices of both down more than 50% this year. That is calculated by taking the amount of open interest for perpetual swap contracts and dividing that by the amount of coins held in reserve on exchanges, according to blockchain data-site CryptoQuant.
6. Ethereum Classic surges over 24%, hashrate hits record high — ETC, the token of Ethereum Classic, logged a double-digit gain in the past 24 hours as of Tuesday morning in Asia, while its hashrate hit a record high on Monday as miners look for alternatives in anticipation of the “Merge.”
7. Bitcoin in Accumulation Phase Despite Macro Headwinds, On-Chain Data Indicate — Long-term investors in bitcoin are adding to their stashes as prices decline, despite the generally bleak macroeconomic outlook, with some models suggesting the world’s largest cryptocurrency could be undervalued at the current price range of $20,000-$21,000.
8. Ether Primed for Pre-Merge Rally After Wedge Breakout — Last week, the native token of Ethereum’s blockchain broke out of a falling wedge pattern identified by two converging and descending trendlines connecting Aug. 14 and Aug. 25 highs and lows hit on Aug. 10, Aug. 20 and Aug. 28.
9. Bitcoin rises slightly, Ether and Ethereum Classic gain amid price run for alternatives —Bitcoin rose slightly in Tuesday morning trading in Asia after falling below the key resistance line of US$20,000 on Monday morning. Ether posted the greatest gains in the crypto top ten by market cap as the rest of that list rose or fell by less than 1%.
10. Poolin, One of the Largest Bitcoin Mining Pools, Suspends Withdrawals From Wallet Service — On Sunday, the firm’s CEO and founder Kevin Pan said that Poolin was facing liquidity issues but assured users that assets were safe. Customers have been complaining since at least as far back as August that withdrawals were slow.

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