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XLM/USD (TradingView)
Crypto Trends

XLM Surges 5% Before Dramatic Final-Hour Collapse

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Stellar’s XLM token demonstrated impressive resilience over the past 24 hours, climbing from $0.36 to a session peak of $0.37 before retracing to end at $0.36. The move represented a 5% intraday range, underscored by heavy trading activity that pointed to heightened market participation. Notably, the asset found solid footing at $0.35 during the September 4 evening session, with buying momentum confirmed by volumes exceeding 16.9 million tokens.

The breakout above $0.36 resistance arrived on surging activity, with volumes spiking to 28.03 million at 07:00 and a staggering 82.75 million at midday on September 5. This influx of demand propelled XLM to its daily high of $0.37, marking a decisive test of bullish strength. However, a sharp reversal in the final trading hour wiped out those gains, as sellers drove the price back to the $0.36 level.

Despite the late-session pullback, XLM closed the period 1% above its opening value, maintaining a broadly bullish technical structure. The move fits into a broader trend: Stellar has posted a striking 288% gain over the past year, drawing institutional interest as Protocol 23 upgrades and cross-border payment solutions bolster its long-term fundamentals.

That said, the competitive landscape remains intense. With the rise of PayFi platforms challenging Stellar’s market position, XLM faces mounting external pressures even as volumes suggest strong trader engagement. For now, the combination of robust support levels and elevated demand provides a constructive backdrop, though volatility is likely to remain a defining feature of near-term price action.

XLM/USD (TradingView)

Technical Indicators Show Mixed Signals
  • Solid support foundation confirmed at $0.35 with substantial volume backing during 4 September 20:00 period.
  • Major upward breakout materialized during 5 September 07:00 and 12:00 intervals featuring exceptional volume expansion.
  • Resistance penetration at $0.36 accelerated XLM toward session peak of $0.37.
  • Severe final-hour reversal initiated intensive selling wave with exceptional volume participation.
  • Fundamental bullish framework maintains integrity despite pronounced closing-session pullback.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Shiba Inu (SHIB): Ready to Fade Into Oblivion? XRP: Final Stand, Cardano (ADA) Bulls: Price Collapse Is One Move Away
NFT Gaming

Shiba Inu (SHIB): Ready to Fade Into Oblivion? XRP: Final Stand, Cardano (ADA) Bulls: Price Collapse Is One Move Away

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The market is on the verge of exiting the consolidation stage, with Shiba Inu, XRP and Cardano being on verge of their local formations that should boost volatility and push either asset into their next stage.

Shiba Inu at crossroads

With price action indicating the possibility of a significant breakdown, Shiba Inu is at a crucial crossroads. The token is stuck inside a narrowing triangle and is currently trading at about $0.0000123, but the overall structure is bearish.

Due to buyers’ inability to maintain momentum above resistance levels, each bounce has been weaker than the last. The consistent drop in trading volume is the most concerning indication. Volume has been declining since early August, which suggests that traders’ interest and involvement are waning.

SHIB/USDT Chart by TradingView

Declining volume during consolidation frequently precedes strong breakouts in cryptocurrency markets, however, since SHIB is already under pressure, the likelihood of a breakdown rather than a recovery is higher.

Technically speaking, SHIB will encounter resistance right away in the range of $0.0000130-$0.0000132, and then the 200-day moving average close to $0.0000139. Every upward attempt has been capped for weeks at these levels. Support for the downside is located just above $0.0000120. The next target might be $0.0000110 or even $0.0000100, a level that runs the risk of adding another zero to SHIB’s valuation if it significantly breaks below this.

Additionally, a classic indicator of deteriorating market structure, the descending trendline from the recent highs, is still forcing lower peaks. Bearish momentum will probably prevail unless SHIB can break out above that line with significant volume. That is, there is a genuine chance of oblivion.

In addition to possibly correcting further, SHIB runs the risk of becoming irrelevant for traders seeking stronger momentum plays if support gives way while volume keeps declining.

XRP’s last test

It appears that XRP is nearing a final stand at its current price. The token is currently trading at about $2.83, just above the 100-day EMA at $2.77, which serves as the crucial line of defense. If XRP is unable to maintain this zone, it may fall toward $2.50 and ultimately the psychological $2.00 level.

The symmetrical triangle pattern that had been supporting the price since mid-August is clearly broken in the chart. XRP was forced below the lower trendline by sellers, and although it has stabilized for the time being, momentum is still brittle. A clear close below $2.77 would validate the bearish trend.

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The pattern in the volume adds to the uncertainty. The steady decline in trading volume is frequently an indication that sellers are worn out, and that bearish pressure is abating. However, low volume can also indicate fund outflows and disinterest, making XRP more susceptible to steeper drops when liquidity evaporates.

XRP has some breathing room for a recovery, as the RSI, which is currently hovering around 44 and reflecting neutral-to-weak momentum, does not yet exhibit any bullish divergence. Regaining $2.95-$3.00 is crucial for bulls. Strength would only be indicated by a persistent return above $3.00, which would pave the way for $3.10-$3.20.

XRP might still bounce back and reenter a consolidation range if support remains at the 100-day EMA. But if it fails, sentiment quickly shifts against it, making the path to $2.00 much more likely. This is a make-or-break situation for XRP investors for the time being.

Cardano’s patience

Cardano is putting its holders’ patience to the test once more. After weeks of losing momentum, the token is currently trading at a pivotal level, with bulls finding it difficult to maintain control. According to the short-term technical picture, the 100-day EMA and the crucial $0.80 support zone are both in the vicinity of ADA.

There is still hope for a recovery in ADA despite the negative undertones. The $0.80 area has previously shown itself to be resilient, serving as a base for several recoveries. Buyers can continue on their current trajectory toward $0.90 and $1.00 if they can defend this level once more.

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A psychological shift would be signaled by a breakout above $1, which might draw momentum traders and investors who had been sidelined back into the market.

However, volume trends are not very promising. Everyday trading activity has decreased, indicating a general decline in enthusiasm. This makes ADA susceptible because, when markets turn risk-off, a lack of conviction can hasten downward pressure. However, these quiet periods frequently come before explosive moves, so the next sessions are very important.

The indecision is highlighted by the RSI, close to 48, which is in neutral territory and does not indicate oversold or overbought conditions. This implies that ADA has some leeway.

In general, the market is struggling, as there isn’t much of bearish support coming in and the majority of investors are bracing themselves for multiple breakdowns, especially if Bitcoin fails to deliver in the next few weeks.



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'A Lot of People Will Get Upset': ETH Predicted to Collapse Below $3,500
GameFi Guides

‘A Lot of People Will Get Upset’: ETH Predicted to Collapse Below $3,500

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According to Benjamin Cowen, the price of Ethereum (ETH), the leading alternative cryptocurrency, could pull back to the 21-week EMA, which is currently below $3,500.

However, the cryptocurrency would then be able to resume its rally following a short-term retracement. 

Now that Ethereum has run the prior All Time Highs in August, I think ETH will drop back to its 21W EMA.

A lot of people will get upset with this idea, but this has been the plan since ETH went home in April (new ATH, then pullback to 21W EMA and find support). https://t.co/WLPBK3mHJ3 pic.twitter.com/2AalzbsMdb

— Benjamin Cowen (@intocryptoverse) September 1, 2025

The analyst, who boasts more than a million followers on the X social media platform, claims that such a pattern has been playing out since April. Cowen is convinced that the same thing will happen this time around. 

ETH’s bullish momentum fades

As reported by U.Today, Ethereum was on track to record its best Q3 to date, outperforming “DeFi summer” from 2020. 

However, its massive rally has now stalled, with the token currently changing hands just below the $4,400 mark. 

Notably, Cowen does not rule out that ETH could see a fake push toward $4,900. If it does happen, he expects such a bull trap to occur as early as this week. 

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Whale buys $1 billion worth of ETH

Meanwhile, a whale recently purchased a whopping $1 billion worth of the leading cryptocurrency. This whale has now purchased and staked a whopping $3.5 billion worth of ETH in virtually no time. 

Significant spot ETF inflows

Even though a significant correction seems to be possible based on the chart shared by Cowen, robust spot Ethereum (ETH) inflows might throw a spanner in the works for the bulls. 

Last week, these products added a total of 286,000 tokens, according to Glassnode data. 





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Ex-Cred execs receive combined 88-month prison term after $140m collapse
Crypto Trends

Cred execs receive prison term after $140 million collapse

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Two former executives from defunct crypto lender Cred LLC have been sentenced to a combined 88 months in federal prison for their roles in a wire fraud conspiracy.

Summary

  • Cred’s ex-CEO and CFO get 88 months for defrauding 6,000+ customers of $140m
  • Executives misled clients after COVID-19 crash exposed Cred’s risky strategy
  • Cred’s bankruptcy left over $1b in losses by today’s crypto valuations

The conspiracy left over 6,000 customers with more than $140 million in losses.

Senior U.S. District Judge William Alsup sentenced co-founder and former CEO Daniel Schatt to 52 months behind bars. Former CFO Joseph Podulka received a 36-month term.

Cred executives pleaded guilty in May

Both defendants pleaded guilty in May to wire fraud conspiracy charges stemming from their deceptive business practices at the San Francisco-based cryptocurrency lending platform.

The sentences cap a lengthy legal battle that began with Cred’s November 2020 bankruptcy filing.

Using current cryptocurrency valuations from August, the government estimates customer losses exceed $1 billion. This makes this one of the costliest crypto lending failures to date.

Cred operated as a cryptocurrency financial services provider and offered dollar loans against crypto collateral and accepted customer deposits in exchange for promised yield payments.

The company’s business model relied heavily on partnerships with overseas entities that prosecutors say customers were largely unaware of.

The fraud conspiracy took root in March 2020 when COVID-19 market turmoil triggered a Bitcoin price crash.

This event exposed fatal flaws in Cred’s risk management strategy and set the stage for the executives’ subsequent deceptive conduct.

COVID Crash Exposed Cred’s Risky Business Model

The March 2020 crypto market crash badly affected Cred’s operations. Within days of Bitcoin’s (BTC) price collapse, the company learned from its hedging partner that it was financially underwater and needed to liquidate all trading positions immediately.

The hedging relationship, which was meant to protect Cred from cryptocurrency price volatility, abruptly ended. This left the company with no protection against future market swings and exposed customers to risks they weren’t informed about.

Compounding these problems, Cred discovered that a Chinese company it relied on for generating customer yields could not repay tens of millions of dollars. Instead of disclosing these mounting financial problems, Schatt and Podulka actively misled customers about the company’s health.

During a public “Ask Management Anything” session on March 18, 2020, Schatt assured customers that Cred was “operating normally” despite being aware of the severe financial distress.

Both executives will also serve three years of supervised release and pay a fine of $25,000.



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European Technology Sovereignty Watch
Gaming Gear

Europe’s silent tech crisis deepens as entire industries run on American systems while sovereignty slogans collapse under Washington’s shifting political winds and corporate dominance

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  • European firms are deeply locked into foreign office suites and systems
  • American platforms manage the communication backbones of Europe’s largest corporations
  • Reliance on external providers exposes utilities and healthcare to foreign oversight

For years, European governments and corporations leaned heavily on American technology offerings instead of nurturing local alternatives.

That choice now carries visible consequences, as sanctions and shifting trade rules brought in by the Trump administration drastically reshape the balance of power.

A recent analysis of business email domains across Europe by Proton shows a striking majority of publicly listed firms rely on American providers such as Google and Microsoft.


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Data reveals the depth of reliance

Behind the rhetoric of digital sovereignty, the reality is that much of Europe’s digital infrastructure rests on technology stacks that entities outside its borders control. This is not just about convenience software but also about essential systems that underpin finance, healthcare, and utilities.

Email may appear mundane, but it often serves as the gateway to office software, online collaboration platforms, and cloud-based storage.

When a company commits to a provider for email, it usually adopts the full suite, embedding foreign technology deep into its operations.

This trend is not limited to smaller economies but also includes the continent’s largest players, where dependence cuts across industries from energy and telecommunications to pharmaceuticals.

In countries like Iceland, Norway, Finland, and Sweden, over 90% of publicly listed companies rely on American services for email and related infrastructure.

However, the shocker is probably Ireland, which is at loggerheads with the US on several policies, but 93% of its businesses depend on American tech.

The UK, although mostly an ally of the US, has an alarming 88% of businesses relying on US tech, while other European heavyweights like Spain, Portugal, and Switzerland recorded 74%, 72%, and 68% of businesses relying on US tech, respectively.

Even France, which often champions its own autonomy, sees two out of three (66%) companies tied to US providers.

Eastern European countries like Bulgaria (16%) and Romania (39%) are the least dependent on American tech, and Russia is not even on the list of nations dependent on the US.

National security concerns emerge when utilities, transport systems, and healthcare facilities communicate through networks governed by foreign jurisdictions, but perhaps not when the network belongs to the US.

The reliance stretches far beyond convenience; it embeds itself in the very systems Europeans use every day – dependence on foreign technology does not just present a financial vulnerability; it raises questions about surveillance, geopolitical leverage, and the future of innovation.

AI training programs outside Europe’s control can sweep in sensitive business data, while reliance on external platforms exposes companies to warrantless legal demands.

This arrangement has also fostered a talent and capital drain, as engineers and investors direct their focus toward Silicon Valley rather than strengthening European ecosystems, whether through proprietary services or alternative Linux distros.

Some argue that American technology simply offers the best tools available, which may be true in terms of efficiency and global reach, yet the consequences of reliance are increasingly hard to ignore, since the US can turn off the switch at any time, and thousands of companies will be in crisis.

The fact that so many European firms cannot operate without American software demonstrates the fragile nature of Europe’s autonomy.

Rather than securing independence, Europe risks locking itself further into external dependencies at a moment when political winds in Washington are shifting.

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FTX
Crypto Trends

Financial Firm Accused Of Daily Scam Emails In Exchange’s Collapse

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Kroll, a financial and risk advisory firm, is facing a class-action suit after a data breach that exposed personal details of creditors tied to FTX, BlockFi and Genesis.

According to the complaint, the breach in August 2023 let malicious actors obtain sensitive data, and that exposure has led to a wave of phishing attempts against creditors.

Allegations Of Negligence

Based on reports, the lawsuit says Kroll relied only on email for claims outreach, which made the verification process vulnerable.

The suit was filed on Tuesday in a US district court by Hall Attorneys on behalf of FTX customer Jacob Repko and other affected creditors.

The complaint claims that email-only contact created a single point of failure, and that the verification system was compromised, causing delays and, in some cases, loss of funds.

Hall Attorneys say the matter is not just about money but about fixing how creditors are contacted going forward.

Nicholas Hall, who leads the firm handling the suit, has told creditors that eligible participants might get monetary compensation and that court rulings could force operational changes at Kroll.

Repeated Breaches Raise Questions

Reports have disclosed that this is not an isolated incident for Kroll. In March, the firm reportedly suffered another breach that exposed client invoicing, accounts payable and email addresses.

Sunil Kavuri, a prominent FTX creditor, posted on X that he has been getting phishing emails on a daily basis, and he shared screenshots showing scams addressed to him by name.

One screenshot in the report shows messages arriving from Aug. 14 through Sunday, and other users replied saying they had seen the same emails.

Total crypto market cap currently at $3.7 trillion. Chart: TradingView

Third Round Of FTX Reimbursement In September

The suit comes as FTX moves ahead with payouts to creditors. The third round of reimbursement is set to start on Sept. 30 and will total nearly $2 billion.

More than $5 billion went out in the second round in May, and in February the plan covered $1.2 billion for users with claims up to $50,000.

The FTX Collapse

FTX’s collapse in November 2022, spearheaded by its ex-CEO Sam Bankman-Fried, rocked the entire crypto market and erased billions of investor value.

Its failure set off a chain reaction that saw prices of digital assets plummet and raise profound doubts about risk management and transparency in the industry.

For most investors, the case was a watershed, underscoring the weaknesses of centralized platforms and stoking demands for a more extensive regulation and protection in crypto.

Featured image from Quartz, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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CryptoZoo Suit Fails to Tie Logan Paul to Collapse: Judge
NFT Gaming

CryptoZoo Suit Fails to Tie Logan Paul to Collapse: Judge

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YouTuber Logan Paul’s bid to dismiss a proposed class-action lawsuit over his defunct non-fungible token (NFT) project CryptoZoo should be allowed, says a Texas magistrate judge.

Magistrate Judge Ronald Griffin advised an Austin federal court on Thursday that the class group had not sufficiently tied Paul to their claims that they lost money by buying into the CryptoZoo project.

The recommendation could see a federal judge drop the suit unless the class updates it. 

The group is made up of CryptoZoo buyers who first sued Paul and others allegedly tied to the project in February 2023, alleging it was a “rug pull” that promised perks which never materialized.

However, Griffin said the class should be allowed to amend all but one of their 27 claims against Paul, but said a claim alleging he committed commodity pool fraud should be permanently dismissed.

“Mental gymnastics” needed for commodity pool fraud claim

Judge Griffin said in his 75-page report that his recommendation to dismiss the lawsuit’s commodity pool fraud claim came as the court “does not follow Plaintiffs’ logic.”

The class argued that CryptoZoo NFTs were an option contract as they started as “eggs” that “hatch” into animals, which then can be bred with others to create hybrid animals that could be traded.

An example of a CryptoZoo NFT hybrid animal that is a cross between an elephant and a shark. Source: CryptoZoo

“In other words, because purchasers buy CZ [CryptoZoo] NFTs unaware of their value until they hatch, and because the CZ NFT animals can be bred with others to create hybrid NFTs, an option contract is thereby formed,” Judge Griffin wrote.

“The mental gymnastics required to come to this conclusion are truly dizzying,” he added. “Plaintiffs do not explain—nor can the Court understand—how their purchases of CZ NFTs create option contracts or contracts for future delivery.”

Other claims fail to tie in Paul 

Judge Griffin said that the lawsuit failed to properly connect Paul to the 26 other claims made against him, saying they hadn’t yet shown evidence that he directly and personally benefited from CryptoZoo’s collapse.

The lawsuit brought claims of fraud, unjust enrichment, negligence, breach of contract, fraud conspiracy, aiding and abetting fraud and breaches of consumer law in multiple states, among others.

Judge Griffin said in some cases the complaint gave “only fragments of facts accompanied by vague attributions of conduct to ‘Defendants’” or looked to “jam together two pieces of different puzzles in the vain hope of producing a final, cohesive product.”

“Unfortunately, the caselaw does not support this tactic.”

Paul refunded CryptoZoo buyers

The class group sued Paul and CryptoZoo co-founders Eduardo Ibanez and Jake Greenbaum in 2021, and Paul alleged in January 2024 that the duo conned him, causing CryptoZoo’s collapse, which Judge Griffin urged the court in July to rebuff.

Related: Digital Currency Group sues subsidiaries over $1.1B promissory note 

In January 2023, Paul promised to make a plan for CryptoZoo and put aside $2.3 million for refunds for CryptoZoo buyers a year later under the condition that claimants agreed not to sue over the project.

Buyers were refunded 0.1 Ether (ETH), the same amount the CryptoZoo NFTs were originally sold for in 2021.

Magazine: Influencers shilling memecoin scams face severe legal consequences 



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Dogecoin Founder Reacts to Sudden Crypto Market Collapse
NFT Gaming

Dogecoin Founder Reacts to Sudden Crypto Market Collapse

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Dogecoin (DOGE) founder Billy Markus, known on X as Shibetoshi Nakamoto for his sarcastic and ironic comments on cryptocurrency, has dropped a note on the current market outlook. In a post for his more than 2.2 million followers, Markus captured recent events with different crypto assets and their attempts to hit new levels.

Billy Markus mocks 2025 crypto price trends

Markus used a GIF of “Kermit the Frog” falling from a high rooftop to illustrate the price pattern with different crypto assets in 2025. He accompanied the GIF with the words, “Crypto when nearing ATHs in 2025.”

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The Dogecoin founder’s post suggests he is making fun of the high anticipation most investors in the crypto space feel in bull market cycles. Notably, he is stating that, so far in 2025, crypto assets have consistently disappointed market expectations.

He observed that every time an asset’s price begins to climb toward its all-time high (ATH), instead of breaching the level, it often crashes sharply. Markus has constantly shared his thoughts on staying afloat in the crypto space, especially during rough times.

Markus could be using humor to pass on a message to investors in the crypto market. That is, investors should expect sudden downturns, as volatility is part of the crypto space. In past cycles, there has always been volatility, profit-taking and psychological resistance around ATHs.

Crypto collapse near ATH frustrates investors

Reacting to the post, a user, “Alpha Doge,” agreed with Markus’ stance and highlighted his frustration with the nose-dive pattern each time the price is nearing an ATH.  He believed that crypto assets appear to be deliberately trying to drive investors over the edge.

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Billy Markus’s message and general crypto market outlook highlight the need for traders not to get too comfortable with predictions. This is because crypto remains a volatile asset class.

For instance, Ethereum (ETH), the leading altcoin, has in the last seven days inched close to the ATH of $4,891.70 set in November 2021. However, it only managed to hit $4,761 before it came crashing to its current price of $4,260.93.



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