Puzzling anatomy of Trump’s would-be assassin – Newsday

Remember Thomas Crooks?

How quickly we moveon, to our detriment.

Crooksis the 20-year-old man who tried to kill Donald Trump. For a time, we all wanted to know his name.

You can blame his transienceon social media, and you wouldn't be entirely wrong. You can try to rationalize thatby sayingsocial media is not real life. But for some, like manyin Crooks' generation, social mediais where life is lived, for better and often for worse.

Trump was not yet at a hospital before social media platforms were awash in dark humor. Memes ran rampant. Some were gleeful that Trump had been shot, manywere angry even if that meant Trump became a hero. Somethrew shade at people taking the matter seriously, at our politics in general, at the idea that this was something to worry about.

The apathy was obvious, the desensitization to violence alarming. And then the circus moved on, the attempted assassination of a past and possibly future president reduced to a TikTok sideshow that flares and quickly fades. Now we're several hundredtrends removedfrom the shooting in Butler, Pennsylvania just eight days ago.

Mainstream media, too, seems to be moving on. Now the shootingis being parsed for its impact on the campaign and specifically on Trump himself, and for what it reveals about Secret Service failures.

And now we're starting to lose sight of Crooks and, more importantly,the urgency to understand what brought him to that rally with murderous intent, placinghim in the company of so many others who have committed similarly dark and violent acts.

Social media might well be part of the toxic broth in which young men like Crooks are cultured. But what else is in it? It's important tokeep asking questions and searchingfor answers.

So we grasp at shards of what we want to callevidence.This post. That tweet. The politics of the parents. The bullying in the school cafeteria. The way he dressed. The music helistened to. Theway hesat by himself.

Crooks searched online for both Trump and President Joe Biden, looked up rally dates for both, and had on his phone photos of Attorney General Merrick Garland and a member of the British royal family.Was the shooting political?

He searched online for information about Michigan high school mass murderer Ethan Crumbley and the parents who bought him a gun, and for lessons in how to make explosives. Did he want to go out in a blaze of glory?

He searchedonline for informationabout major depressive disorder and treatment for it. Was he going through the kind of crisis that often precipitatesmass shootings?

The vacuum of certainty was briefly filled by a post on a gaming site allegedto be fromCrooks saying he would be making his "premiere" on the day of the shooting, but it was soon shown to be a fake accountand the grasping for answers continued.

He had been bullied inschool, butgraduated fromcommunity college in May with an associate degree in engineering science. He was kind. He was quiet. He was a loner.

He might have had father issues. So did rocker Bruce Springsteen and painter Paul Cezanne. Ernest Hemingway had problems with his mother. None of them tried to shoot their way out of their problems. Crooks' home was filled with guns.Do we need more homes filled withguitars,paintbrushes and pens?

What, in other words, goes into the stew that makesyoung men like Crooks? How do we make sense of the random clues? What enables them? What triggers them? What is the balm?

So much is unknown and will remain so, if wecast Crooks and his like aside asjust another fleeting spectacle.

Columnist Michael Dobie's opinions are his own.

Michael Dobie is a member of the Newsday editorial board.

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Puzzling anatomy of Trump's would-be assassin - Newsday

Anatomy of a ‘conspiracy loop’: Do we need a new way of looking at the spread of fake claims? – BBC.com

Conspiracy theories have become fuel for ugly political fights in the US (Credit: Getty Images)

In US politics, conspiracies are rife and many more emerged in the wake of the attempted assassination of Donald Trump. Tackling them requires us to see conspiracism differently, says researcher Sophia Knight.

Within minutes of Saturday's attempted assassination on former US President Donald Trump, conspiracy theories started to swirl online. Without any evidence, people spread claims that the incident was everything from a hoax to a plot. Swept up in a divisive presidential campaign, online voices spun up explanations to fill in the details of the day's shocking events.

So, what do we do about this rising tide of conspiracism? Most importantly, the answer is not to just try and prove people wrong. Any attempt to debunk a conspiracy has a good chance of backfiring, playing into established narratives of "the elite" or "deep state" censoring the truth.

Comment & Analysis

Sophia Knight is a senior technology policy researcher at the UK think tank Demos.

In a recent report published by the UK think tank Demos and Everything is Connected a research project at the University of Manchester my co-authors and I argue that the first step is to change how we understand conspiracism.Conspiracy theories are not just bizarre curiosities festering on the fringes of society that are perpetuated by a handful of tinfoil-hat crazies. Nor do they emerge from thin air.

Rather, they are the result of a vicious cycle in which conspiratorial narratives emerge, are amplified and become fuel for ugly political fights. We call this dynamic the "conspiracy loop". Tackling conspiracism requires breaking the loop.

Many proposed interventions for changing people's belief in conspiracy theories have been found to be ineffective. Conspiracies are often talked about as "spiralling out of control". But spirals are chaotic, runaway systems that quickly become unmanageable. The idea of a conspiracy loop offers a self-contained system on which we might have some hope of intervention.

In our report, we describe conspiracy loops as building and feeding back into themselves and they usually start with a "kernel of truth" from which most conspiracy theories evolve. In some cases this kernel is a literal "truth" genuine conspiracies or secret plans by individuals or groups to do something harmful. In other cases, the "truth" refers to an environment of confusion, distrust, deficit and suspicion in which conspiracy theories flourish. The chaos and questions following the Trump assassination attempt offers an example of how these conditions can lead to speculation and disinformation quickly spreading.

In other cases, those sharing conspiracy theories will be fully aware that the statements are not factually accurate, but they articulate a deeper feeling of truth that reflects their own lived experience.

When individuals and communities are unable to find meaning or explanations for the events in their own lives and the world around them, a space is opened up for alternative explanations. By dismissing "conspiracy theorists" as simply crazy, these individuals are pushed further to the margins, intensifying existing feelings of distrust and isolation.

The conspiracy loop results from a collision of technological, social and political dynamics, slowly building from an environment of distrust and suspicion into full-blown culture wars. By better understanding this process we can get a better idea of how to intervene.

Conspiracy loops build and feedback in three steps.

The loop starts with the generation of conspiratorial narratives at the grassroots level, in both online and offline spaces.

Often when groups feel marginalised , ignored or pushed to the fringes of society, conspiracy theories can function as an explanation for the struggles within their own lives. They offer a ready-made narrative for articulating potentially legitimate resentment or a justification of pre-existing beliefs.

In a political context, this generation stage starts when people feel overlooked and underserved when politicians seem to ignore constituent voices and when new policies feel damaging or disrespectful of community needs and values.

A small handful of fledgling conspiracy theories are picked up by conspiracy influencers and amplified to larger audiences, through a mix of mainstream and alternative social media platforms.

Prominent examples of conspiracy influencers include Alex Jones and David Icke, who have learned to use the structures of social media to build conspiracy empires, selling various documentaries, merchandise and even nutritional supplements.

The final stage of the loop takes place once a conspiracy theory has fully emerged into the mainstream and is picked up by political figures and mainstream media outlets.

In recent years, there have been several high-profile incidents involving political figures spreading conspiratorial narratives. While some may be unknowingly playing into established tropes, others have opportunistically harnessed conspiracy theories to access pre-existing communities of support, boosting the power of their argument.

In the case of the attempted assassination of Trump, there has already been significant media and political commentary, some of which has repeated conspiratorial rhetoric. Most notably, Congressman Mike Collins of Georgia directly blamed President Joe Biden. He posted on social media that " Joe Biden sent the orders ", referencing a comment the President had made earlier in the week about putting "Trump in a bullseye" of their election battle, something Biden has later admitted was a mistake .

In the wake of the attack, both Trump and Biden have called for unityand a de-escalation of political rhetoric. To protect our democratic societies, we may also need to break the conspiracy loop. If conspiracy theories continue to be dismissed as paranoid delusions that spiral out of control, distrust will continue to fester and conspiracism will continue to thrive. Instead it may be time for a deep examination of our democratic foundations. How else will it be possible to identify and address the genuine concerns, confusions and resentments that conspiracy theories often seek to explain?

*Sophia Knight is a senior technology policy researcher at the UK think tank Demos.

--

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Twisters | Anatomy of a Scene – The New York Times

My name is Lee Isaac Chung and I am the director of Twisters. So this is a scene that happens about halfway through the film. Internally, we would always say this is T4, tornado number four, because we number each of our tornadoes. And Kate is played by Daisy Edgar-Jones. And then we have Tyler played by Glen Powell. Other interesting actors in this sequence, we have James Paxton, who is actually the son of Bill Paxton. You only see him very briefly. Hes the man in the couple who try to drive away from this tornado. No! Stop! And Lily Smith, who is the daughter of our writer Mark L. Smith. And then we have Samantha Ireland, Aila Grey, whos the little girl. And we also had Jeff Swearingen, who plays the hapless desk clerk. I really wanted to film a night tornado because growing up around tornado alley, the night tornadoes were always the most frightening. Really, the intent of doing this was to create that feeling, that subjective feeling of what its like to experience a tornado in real time. We had Scott Fisher, who was our special effects person, who rigged a lot of interesting things to happen within this scene after we saw that Coke machine fall and I saw that top shell loose. We rigged that top shell to fly off into the wind. Jeff Swearingen was game to be rigged up, to be pulled back to the back of the pool. And then after hes yanked back, thats where we changed Jeff out with this wonderful stunt performer who we rigged up to really be pulled up into the air. I think he went up about 60 feet. And then this trailer, we slammed it against the edge of the pool. We had lots of debris falling as a result. And this was a little bit scary to film because when that trailer falls on these actors, its loud, its very loud. And I felt the actors were really great sports doing this. We were keeping them safe, of course, Because we were filming a sequence in which the background is intact, and then later when they come out of this swimming pool, everything is destroyed, we needed to destroy the set. So any time were filming inside of this swimming pool, there were people outside, our crew, who were destroying the set. So that was going on in the same time that we were filming all of this stuff within the pool. The swimming pool had actually never been there. We had found this motel in which there were three separate structures within the motel. And what we did was we built out the hotel into a horseshoe shape and built an office so that later we could destroy those parts of our set to make it feel like a tornado really ripped through a horseshoe motel. When we were walking out with these guys, with the crane, this was really a beautiful shot. I give so much credit to Geoff Haley, our incredible camera operator, for all of the technical expertise he did in this entire sequence to make sure our camera is level and that all of these moments somehow work in this seamless way.

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Greys Anatomy Season 21 Preview: Whos Hooking Up, Whos Scrubbing Out and Whos Heading for a Wedding – Soaps.com

We have two months more to wait until the Season 21 premiere of Greys Anatomy, but already, we know a whole lot about what to expect when Greys Sloans doctors scrub in on Thursday, September 26 (at 10/9c on ABC). For instance

Unlike Season 20, which was shortened because of the writers and actors strikes, Season 21 will be 18 episodes long. In addition, Ellen Pompeo will have a greater presence as Meredith than she did the last go-round; shes set to appear in seven episodes and possibly as many as 14.

Though budget cuts will reduce the screen time of many veteran cast members, we will be getting one alum back: Jason George, who crossed over Baileys husband Ben to Station 19 seven seasons ago, will be bringing the character back to finish his surgical residency.

As far as cast cuts go, Jake Borelli, who plays Levi, is out, as is Midori Francis, who plays Mika. On his way in is a new recurring character, the hospitals gay chaplain. (That part has yet to be cast.)

Storyline-wise, you can get a sense of what Season 21 of Greys Anatomy holds in store below

Season 20 ended with Meredith and Nick more committed than ever to one another. (Shed even bought them a house.) Now theres nothing standing in the way of their tying the knot.

Bens return to the residency program is set to make his wife his boss. Has he gotten his passion for feats of derring-do out of his system enough to keep from setting off the fire alarms in her head?

Considering that he and Jo agreed they werent ready to have a baby together, hes sure to be thrown by the revelation that shes expecting but not so thrown that we cant imagine him proposing.

Though Simone and the other interns went to bat for Lucas, he still has a choice to make. Nice as it is that his peers and Bailey have his back, Maggies offer to move to Chicago and work with her is hella tempting.

It promises to be awkward with a capital A when Amelia learns that after being turned down for a date by Monica, the new doc started sleeping with Winston.

Richard has realized that its time for him to leave the operating room. But where does that leave him, period? Hell face a major challenge as he tries to figure out who he is without a scalpel in hand.

The one-two punch of the reappearance of Blues amnesiac old flame and Jules near-kiss with Mika probably means the end of the residents no-strings affair. Unless they finally admit that theyve caught feelings!

To facilitate Francis exit, Mika will likely relocate to another hospital, one where she doesnt have to work under ex-girlfriend Helm. As for Levi, watch for the peds fellowship hes been chasing to be outside of Seattle.

Dont expect Meredith, Teddy, Amelia and Owen to be out of work for long. Catherine cant expect Grey Sloan to keep functioning with half of its surgeons warming the bench!

Check out the below photo gallery to see whos coming and whos going on more shows.

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Greys Anatomy Season 21 Preview: Whos Hooking Up, Whos Scrubbing Out and Whos Heading for a Wedding - Soaps.com

Anatomy of a fall: Biden passes the torch – El Paso Inc.

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Why Dahlia Qadri Left Grey’s Anatomy, And Why Fans Were Furious – CBR

Summary

Grey's Anatomy is packed full of endearing characters, giving audiences a plethora of key staff members to fall in love with. But not every member of Grey Sloan is made equal and many professionals are forced to climb the ranks to even get in the same room with the greats. As such, some cast members get swept up in vicious workplace conflicts, giving audiences something to really sink their teeth into.

Dahlia Qadri first joined the hospital in 2017 and quickly established herself as the superior force compared to her fellow interns. But, as she got more and more confident, senior members of staff believed that she needed to control her emotions and remember that she was on placement to learn. But the character's exit from Grey's Anatomy was something that ultimately became very divisive on the series and has remained unforgettable.

Medical procedurals are very popular on American primetime TV, but New Amsterdam has somehow broken the mold to give fans something new.

Much like her predecessors, Dr. Dahlia Qadri arrived at Grey Sloan as an intern and was keen to show off her skills. With a wealth of academic acclaim under her belt, Qadri didn't hesitate to get stuck in and start rubbing shoulders with her superiors. Yet, fans didn't fall in love with this doctor because of her booksmarts. Instead, viewers enjoyed her charming bedside manner and unique ability to tackle anything that came her way.

Dahlia Qadri may have been pretty headstrong, but oftentimes wore her heart on her sleeve. This is particularly evident in Season 14, Episode 13, "You Really Got a Hold on Me," where she courageously removes her hijab so that she can use it to stop a young patient from bleeding out. Whether they enjoy Dr. Qadri's presence or not, the vast majority of fans believe that this was a bold move on Grey's Anatomy's part. The fact that a devoted Muslim woman decided to remove her hijab in the presence of her male colleagues in an attempt to save a patient is incredibly brave and is a prime example of how Qadri's quick-thinking attitude allows her to keep her patients alive. Although some fans criticized this scene, believing that this example was just an excuse to create shock value and leave a Muslim character without her hijab, many others note that it only strengthens the idea that Qadri is a woman of great faith. Regardless, this episode indicates that Qadri is more than just her academic achievements and uses her faith and morals to guide her even in the most distressing situations.

There's no denying that Dr. Qadri is an incredibly smart woman and is always trying to better herself professionally. Though this can make her quite unlikable at times, this trait means that she's always on hand to help out the rest of the surgeons. In Season 14, Episode 23, "Cold as Ice," Qadri does not hesitate to conduct CPR on April Kepner despite recognizing that her peer is in danger. Though this concept has been shown time and time again, and the team at Grey Sloan is always willing to help out one of their own, the fact that Dr. Qadri quickly put her fears aside to get to work was quite admirable. As such, it's evident that Dr. Qadri is not exactly a completely unique character, but her immense determination works to highlight the proud reputation of the hospital and how it only recruits the best professionals.

Grey's Anatomy has developed a reputation for heartbreaking and sad deaths, but some of these tragic demises were particularly upsetting.

Die-hard fans of the show will agree that Grey Sloan runs like a well-oiled machine and, even from the start, interns have to earn the respect of their teachers. Although Dr. Qadri respects this concept, she doesn't follow this rule exactly. In contrast, Dahlia enjoys being at the forefront of the action, gaining first-hand experience, and working with the latest developments in medicine. Though many fans see this trait as defective and often causes her to step on her peers' toes, other viewers believe that this level of intentness is what gives her arc a much-needed touch of drama. For example, in Season 15, Episode 19, "Silent All These Years," Qadri supports a sexual assault victim by helping to round up her female colleagues so that her patient wouldn't have to come in close contact with other men during her trip down to the OR. This is an incredibly moving episode and showcases just how well Grey's Anatomy handles topical issues and triggering subjects. Plus, this example elucidates how Qadri is not one to just sit in the corner and make notes. She wants to be involved in every case so that she can learn from her heroes, even if she wasn't exactly invited to join them.

Dr. Qadri also encourages other doctors to adopt a patient-first approach, making her a positive example at Grey Sloan. In Season 15, Episode 18, "Add It Up," Qadri treats a little girl called Nora and struggles to answer one of her math questions. Being the ever-determined spirit that she is, Qadri doesn't settle. Instead, she recruits her colleagues to help her solve the problem and even sets up a quiz for the team to try out for themselves. Though this seems like a very minor example, this episode highlights Qadri's ability to bring people together and also highlights how she makes even her young patients feel completely comfortable and at ease.

Many fans mourned when Alex Karev left Grey Sloane. However, Grey's Anatomy may have lined up his replacement with the ever-charming Benson Kwan.

Although fans adored Dr. Qadri's secure attitude, Dr. Bailey didn't appreciate her tone. In Season 16, Episode 3, "Reunited," Dr. Qadri became upset after working with Meredith Grey via a video call. The doctor noted that she joined the intern program at Grey Sloan to work with professionals like Meredith, not to talk to them over the phone. Unfortunately, Dr. Bailey didn't see anything from Dahlia's point of view and fired her on the spot. As such, Qadri was forced to find another placement and ended up moving to Michigan.

Although this conflict made for great TV, hoards of fans felt that her dismissal was entirely unfair. In reality, all Qadri did was stand up to Miranda Bailey. She wasn't disrespectful or even unprofessional, yet Qadri was treated as if she had committed a grave offense. Not only were viewers upset about Qadri's departure from the show, but they also developed a distaste towards one of Grey's Anatomy's longest-running cast members. Miranda Bailey is known for disrespecting and undermining her interns, but firing Dr. Qadri over a slight disagreement shows that power at Grey Sloan is held in the hands of a few and is quickly crumbling under pressure.

However, fans should not feel too upset because Sophia Ali did not leave the show on bad terms. She quit the show to pursue other projects and even secured a part in the rival show Chicago Med. It seems that the Grey's Anatomy cast and crew valued Dr. Qadri as a source of representation but also as a fierce and passionate doctor. Showrunner Krista Vernoff posted a tribute to Ali on X, stating:

"We will miss the exquisite and delightful Sophia Taylor Ali as she heads to New Zealand for big TV & Film adventures! Bye Dr Dahlia Qadri! We love you."

So, even though Dr. Qadri's time on Grey's Anatomy was cut fairly short, she still managed to create a strong bond with fans. As the medical drama prepares for the release of its 21st season, it's fair to say that not every character evokes such a fond reaction. Thus, Dr. Qadri is a clear example of h
ow positive representation can alter the way we consume certain characters on primetime TV.

A drama centered on the personal and professional lives of five surgical interns and their supervisors.

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Why Dahlia Qadri Left Grey's Anatomy, And Why Fans Were Furious - CBR

Anatomy of a fall: Biden passes the torch – The Caledonian-Record

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Anatomy of a fall: Biden passes the torch - The Caledonian-Record

Yamaha XT600 Malambo Boasts Handmade Trellis Frame and Supermoto Anatomy – autoevolution

Operating as Lucky Custom out of Cordoba, Argentina, Lucas Layum and his crew have been killing the customization game for the better part of two decades. The shop was founded all the way back in 2006, and it has since garnered a ton of worldwide attention from everyday enthusiasts and the motorcycling press alike. What youre looking at here is the 103rd project pieced together by Luckys bike-modding artisans.

Just about everything else was ditched, though, including the motorcycles factory frame, wheels, and all its original bodywork. With a blank canvas on their workbench and ready to rock, the Lucky squad started by fabricating a new trellis skeleton from scratch. To an extent, the custom frame was styled after the Ducati Hypermotards trestle unit, and its hooked up to a fresh aluminum swingarm built in-house.

Having refurbished the XT600s monoshock and made it work with the updated construction, the guys turned their attention to the front end. There we find a premium set of upside-down forks held in place via bespoke triple clamps, a huge improvement over the stock hardware. Unsprung territory is occupied by the modded 17-inch hoops of a Yamaha R6, wrapped in sticky Michelin rubber fore and aft.

For improved stopping power, the brakes were revamped and fitted with replacement discs, as well as fresh hoses and rebuilt master cylinders. The updated running gear is sure to take the Yamahas handling on the tarmac to the next level, but its single-cylinder mill has also been subjected to a complete overhaul inside out.

It then received a high-grade aftermarket pod filter and a custom stainless-steel exhaust, which runs a two-one-two configuration toward a pair of under-seat mufflers. Lucky Custom went to town with the bodywork, as well, and the star of the show is that striking tank cover neatly concealing an inner fuel cell. At the front end, youll come across an intricate structure merging the headlight housings, fender, and fork covers into a single unit.

Twin LED headlights keep the way ahead nice and lit, while the taillight is neatly recessed into the rearmost portion of the subframe tubing. Perched atop the rear framework is a handmade seat featuring black leather upholstery and diamond pattern stitching. Billet aluminum foot pegs and a cross-braced handlebar round out the ergonomics, with the latter sporting snazzy white rubber grips. Lastly, the bike was dubbed Malambo following the projects completion.

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Yamaha XT600 Malambo Boasts Handmade Trellis Frame and Supermoto Anatomy - autoevolution

Focusing In on One Star, Fancams Find a Love of the Movies – The New York Times

When I first saw Anatomy of a Fall back at the Cannes Film Festival in 2023, I expected that the courtroom drama would be critically acclaimed. I could even imagine an Oscar win. What I did not foresee was the fancams.

These vertical video edits of clips focus on a celebrity or character, usually set to pop music. If you want to nitpick, you can also call them fan edits, especially if they involve multiple people onscreen. The fancam phenomenon grew out of the world of K-pop, where enthusiasts often make videos focusing solely on one member of a large band.

These days, my feeds are full of film and TV fancams, which I have come to love and seek out. But perhaps the most notable one was from last year and focused on Swann Arlaud in his role as the defense attorney Vincent Renzi in Anatomy of a Fall. Set to Rina Sawayamas song Comme Des Garons (Like the Boys), he runs his fingers through his hair, he lights a cigarette, he stares intensely, he sighs. The music is timed to begin on the lyric Im so confident, thus signaling that Vincent is a bit of a badass. Suddenly, through a savvy bit of editing, a character actor in a serious French drama got the same treatment as a pop heartthrob.

There are other Anatomy of a Fall fancams, including ones dedicated to Sandra Hller, who plays the author on trial for the death of her husband, and the sassy prosecutor trying to convict her. But theres something, dare I say, brilliant about the Arlaud fancam. For one, its a little subversive in the way it applies the language of pop music to art cinema. Its also just an example of good editing in the way it matches Arlauds glances and movements to the beat of the song, the lyrics of which further present him as a swaggering star with a touch of irony, given that hes a humble, often stressed-out lawyer in the context of the movie.

The best fancams have at least some of these qualities. They feature clever, surprising uses of music, highlight films or stars you wouldnt necessarily expect to get this kind of treatment, and are energetically put together. In that way, the fancam itself has become its own art form and a great platform for cinephiles to show their ardent devotion.

The Parisian creator of the Arlaud fancam, who goes by @ginafancam and asked not to share her full name, told me over email: Its my way to pay tribute to the film. Some prefer to tell their love of cinema by writing a review, for example, but I prefer to do it by editing. She added that she was happy that her creation encouraged people from all over the world to watch a French auteur film.

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Focusing In on One Star, Fancams Find a Love of the Movies - The New York Times

Spot Ether ETFs will begin trading soon. Here’s why it can surpass Bitcoin – Quartz

This week, the cryptocurrency world will see the launch of spot Ether exchange-traded funds (ETFs), which will let investors put their bets on Ether the second largest cryptocurrency by market capitalization in the form of stocks.

CrowdStrike stock tumbles as fallout continues

In May, the Securities and Exchange Commission approved the listing of eight spot Ether ETFs, marking a highly anticipated decision for the crypto industry. These eight spot Ether ETFs will be offered by financial giants, including BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital.

The Chicago Board Options Exchange has confirmed five spot Ether ETF products, and the New York Stock Exchange has confirmed two other spot Ether ETFs that will begin trading on Tuesday, July 23. These include:

The launch of the spot Ether ETF follows the SECs approval for spot Bitcoin ETFs earlier this year, which pushed Bitcoin to an all-time high. In just a month, the flagship cryptocurrency soared over 50%, lifting the entire crypto market out of a prolonged winter.

Crypto analysts are expecting that Ether will see the same or more rise as Bitcoin after the launch of spot Ether ETFs. Earlier this year, crypto asset trading firm QCP Capital predicted that there could be a potential 60% increase in the price of Ether.

More recently, Matt Hougan, Bitwises Chief Investment Officer, predicted that exchange-traded products would have even more impact on Ethereum than they had on Bitcoin. Ether ETF trading will boost Ethers price, and it may surpass $5,000, he added.

Ether is the native token of the Ethereum blockchain network. The network is home to thousands of decentralized applications and financial services, where investors trade, borrow, and lend via automated software protocols rather than traditional banks or financial institutions.

Ethereum has some unique features that Bitcoin lacks that bolster its usability. For instance, Bitcoins blockchain network cannot be used as a platform for decentralized applications because it was not originally designed for applications to be built directly on its base layer.

This is part of the reason why financial giants such as BlackRock and Fidelity are eager to launch Ether funds, as they see Ether ETFs as a means to expand cryptos investor base. In March, BlackRock launched its first tokenized fund on the Ethereum blockchain. BlackRock has consistently mentioned that its digital asset strategy involves launching ETFs and tokenizing financial assets.

The launch of crypto ETFs by financial institutions is a big step in establishing crypto as a legitimate asset class. BlackRock CEO Larry Fink has consistently expressed optimism about Bitcoin, stating that BlackRocks iShares Bitcoin Trust, or IBIT is the fastest-growing ETF in history and has accumulated assets at an unprecedented pace. Fink is optimistic about Ether ETFs, too. He said earlier this year an ETH ETF is possible even if the SEC treats Ether like a security.

By 2025, cryptocurrency exchange-traded funds (ETF) will form 5% of hedge fund and pension fund portfolios, predicts leading blockchain expert Fiorenzo Manganiello. Manganiello, who also serves as a professor of blockchain technologies at Geneva Business School and co-founder and managing partner of investment firm LIAN Group, believes that regulatory greenlights will soon lead institutional investors, such as hedge funds and pension funds, to view cryptocurrency as a viable asset.

With BlackRock stepping in and growing its own spot ETF so quickly, it wont be long until other institutions take the leap and invest in crypto. The Ether ETF approval will only be a catalyst, he said in an email.

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Spot Ether ETFs will begin trading soon. Here's why it can surpass Bitcoin - Quartz

The Beginners Guide To Investing In Cryptocurrency – Forbes

Cryptocurrency markets are renowned for their high volatility, with prices often experiencing dramatic swings in short periods. This characteristic volatility stems from a combination of factors unique to the crypto ecosystem.

At its core, the cryptocurrency markets volatility is largely due to its relatively small size compared to traditional financial markets. Despite its growth, the total cryptocurrency market cap hovers around $US2.4 trillion, a mere fraction of the global stock markets value. This smaller size means that even modest capital movements can significantly impact prices, with large buy or sell orders capable of triggering substantial market shifts.

Adding to this volatility is the 24/7 nature of cryptocurrency trading. Unlike traditional stock markets with set trading hours, crypto never sleeps. This continuous trading can lead to increased price fluctuations, especially during off-hours when liquidity might be lower. News and events can impact the market at any time, potentially causing rapid price changes that might have been tempered in a market with set trading hours.

The cryptocurrency space is also characterised by its remarkably low barrier to entry. With over 2.4 million cryptocurrencies in existence, its relatively easy for anyone to create a new token or coin. This accessibility is a double-edged sword. On one hand, it encourages innovation and allows anyone to participate in the crypto ecosystem, enabling diverse projects and use cases to emerge. On the other hand, it can lead to market saturation and confusion for investors, increasing the risk of encountering projects with little to no fundamental value and making the market more susceptible to manipulative practices like pump-and-dump schemes.

Regulatory uncertainty further contributes to the markets volatility. The legal and regulatory landscape for cryptocurrencies is still evolving in many jurisdictions, and news about potential regulations or changes in government stance can cause significant market reactions.

While this volatility can present opportunities for traders, it also poses significant risks. Investors must understand these factors and approach cryptocurrency investments cautiously, conducting thorough research and only investing what they can afford to lose. As the market matures and adoption increases, some experts predict that volatility may decrease over time, but for now, it remains a defining characteristic of the cryptocurrency landscape.

This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class. Cryptocurrency is unregulated in Australia and your capital is at risk. Trading in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorised financial advisor.

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The Beginners Guide To Investing In Cryptocurrency - Forbes

Ethereum ETFs Get Final Go-Ahead From The SEC: What Happen’s Next? – Benzinga

In a landmark development, the SEC has approved the commencement of trading for spot Ethereum ETF/USD exchange-traded funds Monday, exposing mainstream investors to the price moves of the worlds second-largest cryptocurrency.

What Happened: Bloomberg senior ETF analyst Eric Balchunas confirmed the news, as the 424(b) forms are now available on the SEC site, meaning the regulator has cleared them for trading from tomorrow.

The SEC has given its approval to registration forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck and Invesco Galaxy. The only funds that dont have effective documents from the SEC are Grayscales Trust and Mini Trust, which analysts expected to come tomorrow morning before trading commences.

Coinbase Global Inc. COIN, which happens to be the custodian for 8 of the 9 newly approved ETFs,also announced the clearance, describing it as an important milestone for cryptocurrencies.

The websites of the new investment products, including Blackrocks ishares Ethereum Trust, also went live, unlocking a new era of trading for cryptocurrency-based funds.

See Also: Elon Musk Jokes Hes An Alien Scientist With A Japanese Pseudonym, But Dogecoin Designer Clarifies Tesla CEO Is Not Satoshi Nakamoto

Why It Matters: Despite an initial lack of engagement between the SEC and issuers, the approvals were granted unexpectedly. Firms had received approval of 19b-4 forms in May but needed their registration statements to go effective before launching.

Prior to the anticipated launch of spot Ethereum ETFs in the U.S., Citi projected up to $5.4 billion in inflows within the first six months. The bank cautioned that actual inflows and returns could be lower than projected.

Analysts led by Alex Saunders noted that Ethereum offers long-term diversification benefits due to its varied use-cases. However, these benefits are not currently reflected in the market.

Furthermore, Michal van de Poppe, a widely-followed cryptocurrency analyst, anticipated a surge in activity and value of tokens in the Ethereum ecosystem after the approval.

Price Action: At the time of writing, Ethereum was exchanging hands at $3,470.06, down 1.42% in the last 24 hours, according to data from Benzinga Pro.Shares of Coinbase closed 2.86% higher at $265.15 during Mondays regular trading session.

Photo Courtesy: Shutterstock.com

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Ethereum ETFs Get Final Go-Ahead From The SEC: What Happen's Next? - Benzinga

Atomic Swap: Definition, How It Works With Cryptocurrency Trade – Investopedia

What Is an Atomic Swap?

An atomic swap is an exchange of cryptocurrencies from separate blockchains. The idea is to remove centralized intermediaries like exchanges and reduce the steps needed to trade tokens, but many exchanges and businesses have created swap solutions to make the process easier.

The term atomic derives from the term "atomic state" in which a state has no substates. This refers to a cryptocurrency transaction between two people using different blockchains that either happens or it doesn'tthere are no alternatives.

Most atomic swap-enabled wallets and blockchains use smart contracts. Smart contracts are programs within blockchains that execute when certain conditions are met. In this case, the conditions are that each party agrees to the transaction before a timer runs out. Using a smart contract in the trade prevents either party from stealing a cryptocurrency from the other.

Atomic swaps are also called cross-chain atomic swaps.

Each cryptocurrency is supported by a blockchain, designed only to accept transactions in specific tokens. For example, the Bitcoin and Ethereum blockchains each have a native token that cannot be transferred to the other. You first need to convert them to fiat currency and then buy the other using other cryptocurrencies and exchanges to get the one you want. Depending on the cryptocurrency, this can take several trades. Atomic swaps allow you to exchange tokens from different blockchains in one trade.

Some decentralized exchanges can conduct atomic swaps for you. A decentralized exchange (DEX) has no central authority regulating it; it is a platform you can trade on without third parties. You can also choose from cross-chain swap providers, where you transfer your digital assets into another wallet, conduct the swap, and transfer them back out.

Atomic swaps rely on each party to provide proof through key encryption and acceptance of both parties through the encrypted key.

The concept was conceived shortly after altcoinscryptocurrencies other than Bitcoinmaterialized. The creation of altcoins meant some cryptocurrency owners became interested in moving capital between coins. This type of token swap first appeared in September 2017, when an atomic swap between Decred and Litecoin was conducted.

Since then, startups and decentralized exchanges have created ways to facilitate swaps and given users the same ability. For example, Lightning Labs, a startup that created the Lightning Network for Bitcoin transactions, has conducted off-chain swaps utilizing the technology.

Special cryptocurrency wallets have also been developed that are capable of cross-chain atomic swapsLiquality has developed a wallet that will swap Bitcoin, ETH, and more by connecting to swap providers like 1inch, Jupiter, and Sovryn.

In an atomic swap, two token owners agree to exchange their tokens. A smart contract is programmed to lock the tokens of both owners, and redeem them in the tokens desired. For instance, if Alice wanted to trade one bitcoin (BTC) for an equal amount of Bob's monero (XMR), the smart contract would lock both amounts on their respective blockchains. Once Alice and Bob agree on the trade, the smart contract would redeem Bob's BTC on the Bitcoin network and Alice's XMR on the Monero network.

Atomic swaps use Hash Timelock Contracts (HTLC) to automate the exchange of tokens. As its name denotes, HTLC is a time-bound smart contract between parties that involves generating one cryptographic hash on each end.

A cryptographic hash function is an algorithm that converts data of variable length, such as a person's wallet address and transaction information. It converts it to a hexadecimal number with a fixed length. In general, the number that is generated is called the hash.

HTLC requires both parties to acknowledge receipt of funds within a specified timeframe. If one party fails to confirm the transaction within the timeframe, the entire transaction is voided, and funds are not transferred. This eliminates counterparty risk, or the risk that one party will accept the offered coins and decline the transfer of their coins.

Atomic swaps sound complicated, but for most users, they can be very simple. Atomic swap-enabled wallets or decentralized exchanges like Atomic Swap or Uniswap let you choose from your cryptocurrency to swap for another token. The swap might be labeled "Exchange" or "Swap" in the wallet's interface.

Once you've selected the appropriate action, you choose the tokens you want to swap; you'll see the amount you'll receive in the token you're swapping. The interface should tell you the swap rate and network fees, let you double-check the transaction, and give you a button to press to initiate the trade.

Depending on the network, whether you're using an exchange or trading with another user, the swap can take several minutes to complete. For example, Atomic Wallet's instructions state that a swap should take about 20 minutes, but other wallets or decentralized exchanges might take less or more time.

Atomic swaps are generally initiated by users and executed by a smart contract. The smart contract can be programmed in many ways, but most tend to lock up the tokens being swapped or burn them, then issue the new tokens to the transferees.

When two entities want to trade tokens, they can use an atomic swap to ensure no third parties are involved. This technique is faster and generally cheaper than going through exchanges or other token swap service providers.

In most cases, the only publicly available information is the token amounts and the users' public addresses. However, if other information has been made available, these addresses can be traced back to their owners, so they are realistically pseudonymous.

The term atomic swap is used to refer to two users trading tokens from incompatible blockchains. The swaps are generally executed by smart contracts, which lock or burn the original tokens and issue new ones on the corresponding blockchains.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read ourwarranty and liability disclaimerfor more info.

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Atomic Swap: Definition, How It Works With Cryptocurrency Trade - Investopedia

Bitcoin ETFs In Australia: The Complete Guide – Forbes

The landscape of bitcoin ETFs has evolved significantly in recent years, with a options available in many countries, including the United States and Australia.

When the US Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs earlier this year, it opened the floodgates for institutional and retail investors seeking bitcoin exposure through traditional investment vehicles.

Within a day of listing, these bitcoin ETFs collectively saw over $US4 billion in inflows, shattering previous records for ETF debuts. As the weeks progressed, many individual funds continued to break records. For context, over the last 30 years, 5,535 ETFs have been launched. None have seen numbers as impressive as those offered by companies like BlackRock and Fidelity.

Within one month of trading, Fidelitys FBTC had gathered almost $US3.5 billion in assets under management (AUM), while BlackRocks IBIT had attracted over $US4 billion. To put this in perspective, the first gold ETF accumulated $US1.2 billion in its first month, and the previous record holder for fastest inflows was BlackRocks Climate Conscious Fund, launched in August 2023, which collected $2.2 billion in its first month.

These figures underscore the appetite for bitcoin exposure through regulated, traditional investment vehicles. While these US-based ETFs are not directly accessible to Australian retail investors, they signify a global shift towards mainstream acceptance of bitcoin as an investment asset.

The global wave of bitcoin ETF approvals has reached Australian shores, with two notable offerings now available to local investors.

On July 13, 2024, the Australian Securities Exchange (ASX) listed its first spot-bitcoin ETF, marking a significant milestone for cryptocurrency investment in Australia. The VanEck bitcoin ETF (VBTC) allows Australians to invest in bitcoin through exposure to the companys US equivalent.

VBTC is structured as a feeder fund that provides exposure to bitcoin by investing in VanEcks bitcoin Trust (HODL), a US ETF listed on Cboe.

Australias first bitcoin spot ETF, Global X 21shares bitcoin ETF (EBTC), launched on Cboe Australia (formerly Chi-X) in May 2022.

Its worth noting that while the ASX has only recently listed its first bitcoin ETF, Cboe Australia has been hosting such products for over two years. Monochrome bitcoin ETF (IBTC) also recently went live on June 4, 2024, and holds bitcoin directly.

The introduction of these ETFs in Australia on the ASX and Cboe provides Australian investors with multiple options for gaining exposure to bitcoin through regulated, exchange-traded products that cater to different investment preferences and strategies.

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Bitcoin ETFs In Australia: The Complete Guide - Forbes

Experts predict $10 price target for this viral new cryptocurrency; AVAX price and VET struggle to find bullish momentum – Crypto News Flash

Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act. The content of this website solely reflects the subjective and personal opinion of the authors. Readers are requested to form their own opinions on the contents of this website and to seek professional and independent advice before making concrete investment decisions. The information found on this site does not contain any information or messages, but is intended solely for information and personal use. None of the information shown constitutes an offer to buy or sell futures contracts, securities, options, CFDs, other derivatives or cryptocurrencies. Any opinions provided, including e-mails, live chat, SMS or other forms of communication across social media networks do not constitute a suitable basis for an investment decision. You alone bear the risk for your investment decisions.

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Experts predict $10 price target for this viral new cryptocurrency; AVAX price and VET struggle to find bullish momentum - Crypto News Flash

Cryptocurrency Price Movements Today: Bitcoin Tests $65K, Ether ETF Expected Next Week – Investopedia

Key Takeaways

The price of bitcoin (BTC) turned slightly lower early Tuesday afternoon after crossing the $65,000 level in late trading Monday.

Bitcoin was trading above $64,000 Tuesday after crypto exchange Kraken received more than $3 billion worth of bitcoin for distribution over the next few weeks to Mt. Gox customers, according to a report in The Block.

Two major developments in the past 24 hoursRepublican presidential nominee Donald Trump's pick to be his running mate and a potential spot ether ETF approval next weekmay have driven bitcoin higher and brought gains to cryto-related stocks as well.

Shares of Riot Platforms (RIOT) gained more than 5%, Marathon Digital (MARA) was up 4%, MicroStrategy (MSTR) added 2%, and Coinbase (COIN) was up more than 1% as of 1:15 p.m. ET Tuesday.

Former President Donald Trump is making efforts to get the attention of crypto industry. Even as the rising odds of his victory sent bitcoin higher yesterday, Trump announced J.D. Vance as his running mate for the 2024 U.S. presidential election.

A Republican senator from Ohio, Vance is also a bitcoin investor. He previously disclosed holding up between $100,000-$250,000 worth of bitcoin in 2022, and more recently, drafted industry-friendly crypto legislation, according to Politico.

And some in the crypto industry were quick to throw their weight behind that nomination.

"Trump - Vance is a phenomenal ticket period," Riot Platforms' Head of Public Policy Brian Morgenstern posted on X. "But its an absolute dream come true for #Bitcoin & Bitcoiners, and the broader crypto community."

The demand created by spot bitcoin exchange-traded funds (ETFs) is credited for fueling a rally in bitcoin prices in the first half of the year. While spot ether ETFs may not inspire a similar rush to invest, the optimism around their approval may be pushing bitcoin prices higher.

According to Bloomberg Senior ETF Analyst Eric Balchunas, discussions between the U.S. Securities and Exchange Commission (SEC) and prospective spot ether ETF issuers regarding the related S-1 filings have progressed to the point where the launch of this new financial instrument is now expected next week.

"Hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH," Balchunas posted on X. "This is provided no unforeseeable last min issues of course!"

The price of ether (ETH), which is the underlying cryptocurrency of the Ethereum network, is roughly flat since Balchunas's post. However, it's worth noting that the approval of various spot ether ETFs this summer was already expected.

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Cryptocurrency Price Movements Today: Bitcoin Tests $65K, Ether ETF Expected Next Week - Investopedia

BRICS Issues Major Cryptocurrency Warning – Watcher Guru

BRICS is issuing a new warning regarding cryptocurrency and the mining process. According to Russian President Vladimir Putin, unregulated cryptocurrency mining can cause several blackouts and power outages. The BRICS member says that there needs to be more regulation in mining to protect Russias power grids from these outages.

An uncontrolled increase in electricity consumption for mining cryptocurrencies can lead to power shortages in certain regions, Putin told senior government officials at a recent meeting. According to Russias Energy Ministry, crypto mining consumes an average of 16 billion kilowatt-hours per year. This equates to almost 1.5% of Russias total electricity consumption, which Putin believes will rise without regulation. The figure continues to go up, Putin said.

Also Read: BRICS: 19 Countries Enter Advanced Stages of CBDC Testing

Russia houses very strict cryptocurrency laws. In 2020, Putin signed a law that legalized cryptocurrencies as digital financial assets but banned their use from paying for goods and services. However, crypto mining remains popular in the country, in part due to the cheap cost of electricity in Russia and access to equipment. Russia sat only second behind the United States in terms of the largest crypto-mining countries in the world. Fellow BRICS nation China used to occupy a top spot in the list but has since restricted crypto mining.

Russian President Putin on Wednesday shared the concerns of regional authorities that mining farms could leave new businesses, residential areas, and social facilities with supply disruptions, and put on hold promising investment and infrastructure projects. Putin ordered tax and tariff regulations for miners and called for a federal law to address the issue.

Also Read: Trump Says US Must Lead Crypto to Avoid BRICS Takeover

BRICS and Russia are looking to incorporate cryptocurrency and digital assets in their new world of finance. The bloc believes that these assets could aid in the development of their new currency to abandon the US Dollar. On the other hand, they would like to regulate how this crypto is used and mined to avoid the blackouts that Russia suggests will continue.

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BRICS Issues Major Cryptocurrency Warning - Watcher Guru

Cryptocurrency: 3 New Meme Coins To Watch Out For In August – Watcher Guru

The cryptocurrency world is dubbed a magnetic realm, the one that keeps on experimenting to birth new coins. Similarity: an array of new meme coins have now taken over the realm, with some of them showing powerful new metrics to woo consumers and users from across the globe. Keeping the legacy of new crypto coins alive, here are the three new meme coins to keep an eye out for in August, as they continue to perform well, leaving behind leading crypto contenders out of the race.

Also Read: Shiba Inu: SHIB Eyes Fresh Gains Amid Massive Burn and Whale Moves

Popcat is another leading crypto meme token that has just entered the world of cryptocurrencies. Per the latest data released by Santiment, Popcat has noted a 117% spike in its price since July 11. The token has recently been receiving a lot of mainstream attention, which makes it a lucrative crypto token to watch out for.

POPCAT has drawn attention from mainstream traders after the Solana-based asset has surged +117% since July 11th. Historically, this level of sudden interest as a result of a price surge has a high chance of leading to a correction, where better entry points are likely.

POPCAT has drawn attention from mainstream traders after the Solana-based asset has surged +117% since July 11th. Historically, this level of sudden interest as a result of a price surge has a high chance of leading to a correction, where better entry points are likely. pic.twitter.com/Skpkn8Utu6

Per CoinCodex, Popcat may surge by 225% in August to trade at a $3 price pedestal.

According to our current Popcat price prediction, the price of Popcat is predicted to rise by 225.42% and reach $3.00 by August 21, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 70 (greed). Popcat recorded 19/30 (63%) green days with 31.23% price volatility over the last 30 days.

Mew is another Solana-based crypto token that has been drawing in a sizable pool of customers. The popularity quotient of the token has also been spiking, with its price catapulting to new price thresholds. Recently, the token led the top gainer rally on CoinMarketCap, defeating 200 tokens in its wake.

NEW: Solana-based memecoin $MEW (@MewsWorld) becomes the biggest 24-hour gainer amongst the Top 200 tokens by Market Cap.

As per CoinCodex, MEW is expected to surge 225% in August to trade at $0.023845.

According to our current cat in a dog world price prediction, the price of the cat in a dog world is predicted to rise by 225.08% and reach $0.023845 by August 21, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 70 (greed). Cats in a Dog World recorded 19/30 (63%) green days with 15.05% price volatility over the last 30 days.

Solana-based BONK has recently added a new medal to its name. The token has been dubbed the top gainer among the 100 crypto coins pooled on CoinMarketCap. This comes at a time when BONK continues to forge new milestones while keeping its momentum steady amid occasional market volatility.

NEW: Solana memecoin $BONK (@bonk_inu) becomes the biggest 24-hour gainer amongst the Top 100 tokens by Market Cap.

Also Read: ASEAN May Join GCC To Boost Global Trade Prospects

According to CoinCodex, BONK may spike 237% to trade at a new high of $0.0001.

According to our current Bonk price prediction, the price of Bonk is predicted to rise by 222.39% and reach $0.0001 by August 21, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 70 (greed). Bonk recorded 18/30 (60%) green days with 11.72% price volatility over the last 30 days.

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Cryptocurrency: 3 New Meme Coins To Watch Out For In August - Watcher Guru

Cryptocurrency Injective Down More Than 3% Within 24 hours – Benzinga

Injective's INJ/USD price has decreased 3.09% over the past 24 hours to $26.29. This is contrary to the coins performance over the past week where it has experienced an up-trend of 17.0%, moving from $22.51 to its current price.

The chart below compares the price movement and volatility for Injective over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has risen 37.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.25%. This brings the circulating supply to 97.15 million. According to our data, the current market cap ranking for INJ is #42 at $2.55 billion.

Powered by CoinGecko API

This article was generated by Benzinga's automated content engine and reviewed by an editor.

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Injective Down More Than 3% Within 24 hours - Benzinga

Hong Kong to get first bitcoin inverse investment product, adding to crypto ETFs – South China Morning Post

Hong Kongs first bitcoin inverse investment product, which offers returns based on declines in the price of the worlds largest cryptocurrency token, debuts on the citys stock exchange on Tuesday, as the Asian financial hub continues to expand its virtual asset product offerings to draw investors. The exchanges move to list CSOP Asset Managements new Bitcoin Futures Daily Inverse Product, the first of its kind in Hong Kong, reflects the citys ongoing efforts to diversify its offerings of cryptocurrency-related financial products and to become a centre for such business. Hong Kong Exchanges and Clearing (HKEX) announced approval of the product in a statement last week. The offering comes three months after the city approved the launch of six exchange-traded funds (ETFs) that invest directly into bitcoin and ether, the worlds two largest cryptocurrency tokens. The Hong Kong stock exchange was open to listing leveraged and inverse crypto products, HKEXs head of exchange-traded products Brian Roberts told Bloomberg in April.

Inverse products are structured as ETFs but seek short-term investment results and target professional, trade-oriented investors.

Instead of investing directly in bitcoin, CSOPs new product, denominated in US dollars, invests primarily in short positions of bitcoin futures traded on the Chicago Mercantile Exchange, the company said in regulatory filings last week. The strategy aims to allow traders to profit from declines in market prices.

These products face extreme price volatility that could wipe out investments, CSOP warned, and values may drop by more than 20 per cent in a single day.

Hong Kong has charged forward with initiatives aimed at boosting its virtual asset sector, part of the citys broader efforts to maintain its financial hub status that has taken a blow in recent years.

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Hong Kong to get first bitcoin inverse investment product, adding to crypto ETFs - South China Morning Post