Connect with us

Business

Price September 3rd: BTC, ETH, ADA, BNB, XRP & SOL

This week’s sharp rally in Bitcoin and Ether signals that bulls are back in force and altcoins are likely to follow. Bitcoin finally broke above the $50,500 resistance and Ether has risen over the $4,000 mark. This shows that there is an growing interest in crypto currencies and several legacy finance companies are initiating steps to tap into this increasing demand.

Published

on

This week’s sharp rally in Bitcoin and Ether signals that bulls are back in force and altcoins are likely to follow. Bitcoin finally broke above the $50,500 resistance and Ether has risen over the $4,000 mark. This shows that there is an growing interest in crypto currencies and several legacy finance companies are initiating steps to tap into this increasing demand.

BTC/USDT

The bears defended the $50,500 resistance, but they could not pull and endure the price back below the downtrend line. This could have attracted buying from the bulls which have pushed Bitcoin above $50,500 today. If buyers sustain the price above $50,500, the BTC/USDT could rally to $60,000. This level may again act as a stiff resistance but if bulls can thrust the price above it, the pair could challenge the all-time high at $64,854.

ETH/USDT

Ether picked up momentum after breaking above $3,377.89 and hit the $4,000 mark today. If bulls sustain the price above this psychological level, the biggest altcoin could challenge the all-time high at $4,372.72. The upsloping 20-day EMA ($3,344) and the RSI in the overbought zone suggest that bulls are in control. If buyers push the price above $4,372.72, the ETH/USDT pair could start its journey toward the critical level at $5,000.

ADA/USDT

ADA broke above the $3 mark on but the bulls could not sustain the higher levels. Although the price fell back below $2.97 today, the bulls bought the dip and are again trying to drive the price above $3. A breakout and close above $3.10 will signal the resumption of the uptrend. The ADA/USDT pair could then rally to $3.50.

BNB/USDT

Binance Coin has been trading between the 20-day EMA $456 and the overhead resistance at $518.90. This suggests that bears are selling above $500 but the positive sign is that bulls are not giving up much ground. The buyers will again try to push and sustain the price above $518.90. If they manage to do that, the BNB/USDT pair could pick up momentum and rally to $600.

XRP/USDT

XRP was pushed above the downtrend line invalidating the developing bearish descending triangle pattern. The bears tried to pull and sustain the price below the downtrend line today but failed. If bulls sustain the price above the downtrend line, the XRP/USDT pair could rally to $1.35.

SOL/USDT

The bears attempted to stall Solana’s (SOL) uptrend at $130 but the bulls were in no mood to relent. The buyers did not allow the price to break below the psychological support at $100. Buying resumed on Sep. 2 and the bulls have extended the SOL/USDT pair to a new all-time high today. Vertical rallies are rarely sustainable and they usually result in sharp declines. The RSI above 88 also indicates the pair is overextended in the short term.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Crypto News. Every investment and trading move involves risk. The reader should conduct their own research when making a decision.

Business

Binance tightens South African compliance rules for crypto transfers

Published

on

Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

Continue Reading

Business

Ethereum bounces back as market dominance recovers from all-time low

Published

on

Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

Continue Reading

Business

SEC says it won’t re-file fraud case against Hex’s Richard Heart

Published

on

The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk