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15 09, 2024

‘Rocky Rabbit’ Telegram Game Adds Battle Mode Ahead of Airdrop

By |2024-09-15T12:17:56+03:00September 15, 2024|News, NFT News|0 Comments


Telegram tap-to-earn game Rocky Rabbit has just over a week left before its RabBitcoin (RBTC) token launches on The Open Network, and one of the key stops on the roadmap to the airdrop was just added to the game: the Battle mode.

Rocky Rabbit is a game built around imagery of beefy bunnies pumping iron and entering tournaments. But much like fellow Telegram game Hamster Kombat isn’t actually about fighting—it’s a crypto exchange simulator starring rodents—this “Battle” mode doesn’t actually feature any physical conflict at all.

Despite the colosseum-like artwork, Rocky Rabbit’s battle mode is a game of chance: You enter a betting pool, choose how many in-game coins you want to pay into it, and then watch the roulette wheel spin until it lands on a winner. If it’s you, then you’ll bank some substantial multiple of the coins you bet. If not, then you’re out of luck. Try again.

Image: Decrypt

And that’s it. There are three different venues that you can “battle” in alongside other players, each with a different range of possible bets: Arena (100K-1M coins), Citadel (1M-10M), and Siege (10M-1B). They’re functionally the same aside from the size of the wagers, however.

Given the vibe of the game, it’s a little surprising that this doesn’t look or feel like a combat experience. But it is very much in line with the rest of Rocky Rabbit, which like many Telegram games has superficial gameplay and is built entirely around menu taps.

Within that context, it makes sense. On the other hand, the promise of letting you earn by “teaming up, strategizing, and battling together” is simply misleading. At least in this current rendition, there’s no collaboration—and strategy is limited to deciding how much you’re willing to bet to improve your odds of a win.

Rocky Rabbit’s Battle mode just offers another way to potentially pile up—or lose—in-game coins before RBTC launches and rewards players with a share of on-chain tokens.

And the new Games menu in the app shows two other upcoming mini-games that have yet to launch, called RocQ and Magic Rabbit. But you’ll need a “Game Pass” to unlock the Battle mode, which is found by entering another player’s special code.

Image: Decrypt

Why you’ll need this pass isn’t entirely clear, but worry not: It’s free, though you may need to hunt around to find a working code. Luckily, we were able to find one by searching Twitter and nabbing one shared by a random user—and you’re welcome to use our code in the screenshot above, assuming it still works.

Rocky Rabbit’s RBTC token is set to launch on TON on September 23, and the first wave of the airdrop is likely to arrive alongside, though that hasn’t been confirmed as of this writing. It’s part of a one-two-three punch of major Telegram game token drops on TON, with Catizen leading the charge on September 20 and Hamster Kombat following on September 26.

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15 09, 2024

Coffee prices jump 4% as production outlook deteriorates

By |2024-09-15T12:03:56+03:00September 15, 2024|Forex News, News|0 Comments


NEW YORK: Coffee prices rose sharply on Tuesday in New York and London as investors raised their bullish bets on the beans following signs of deterioration for production in top grower Brazil, which will add to a global situation of limited supplies.

Benchmark arabica coffee futures on ICE exchange gained 4.5% at $2.3595 per lb. Prices for this type of mild-tasting coffee, the preferred choice by large chains including Starbucks and Tim Hortons, increased 25% so far this year.

Meanwhile, robusta coffee, which used to be a cheaper variety used in blends for popular supermarket brands, posted a 5% price increase in London on Tuesday to $4,383 per metric ton. Robusta is up 44% this year, after gaining 63% in 2023.

Analysts say financial investors are building long positions in coffee futures, betting prices will continue to climb on the back of production problems, particularly in Brazil.

“There are initial signs of leaf wilting and leaf dropping on Brazilian coffee fields,” said U.S. broker and analyst StoneX, when it cut its estimate for the Brazilian production following months of below-average rains.


On Monday, the head of Brazil’s largest coffee co-op Cooxupe said the company no longer expects increase in production this year in the area where it operates in the Brazilian states of Minas Gerais and Sao Paulo due to dry, hot weather.”Dry weather in Brazil is supportive and after no talk of concern for the 2025/26 crop, there is now a comment from a large producer which should know if there is a problem,” said a U.S. coffee broker referring to Cooxupe’s views.Brazil production problems follow difficulties seen in Asia, where robusta production suffered with adverse climate conditions.

With limited supplies, coffee stocks remain tight in the main consuming regions. European stocks were 27% lower in June when compared to a year earlier, while Japanese coffee stocks are 12% below the five-year average.

In other soft commodities, London cocoa rose 1.5% to 5,426 pounds per ton, while New York cocoa gained 1.4% to $6,770 a ton.

Raw sugar settled down 0.21 cent, or 1.2%, at 17.87 cents per lb and refined sugar fell 1.6% at $507.60 a ton.



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15 09, 2024

XRP price prediction: What lies ahead at the $0.60 supply zone?

By |2024-09-15T10:18:53+03:00September 15, 2024|Crypto News, News|0 Comments

  • XRP’s rally edged closer to the Q3 supply zone. 
  • Will whales intensify profit-taking at the zone again? 

Ripple [XRP] posted 11% gain last week, partly boosted by Grayscale’s inclusion of an XRP Trust to its line of crypto products. 

However, the altcoin was on the verge of hitting a Q3 supply zone near $0.06. This zone has attracted intense profit-taking in the past, especially from whales. Will the trend repeat according to XRP price prediction? 

Will the supply zone reverse XRP price prediction?

XRP price prediction: What lies ahead at the alt=

Source: XRP/USDT, TradingView

XRP has printed a clear price trend in Q3. Notably, the strong recovery in July and the partial victory against SEC in August ended near the supply zone at $0.6. This has made $0.6 a key price level to watch, especially during price appreciation. 

At press time, this week’s upswing was headed into the supply zone. If the trend repeats and another price rejection occurs, XRP could drag to $0.54 support.

In such a scenario, shorting the asset would yield gains, especially if the overall market cools off ahead of the FOMC meeting. 

However, given the bullish expectations from Fed rate cuts, market re-entry would make sense only if XRP flips the supply zone into support. 

Meanwhile, the RSI showed more room for the current uptrend, while the stochastic RSI flashed overbought conditions. This further signaled the supply zone should be pinned as a crucial watchlist. 

Exchange flow shows eased selling, but…

XRP price predictionXRP price prediction

Source: CryptoQuant

This week’s XRP rebound was also marked by reduced sell pressure on centralized exchanges, as shown by a sharp drop in exchange inflows.

On Binance, XRP’s inflow dropped from nearly 1.8 billion tokens on 8th September to around 50.9 million at the time of writing. This reduced supply pressure aided this week’s uptrend. 

However, a price rally to $0.6 could attract a whale sell-off if the past month’s trend repeats. Whales triggered profit-taking in August when XRP hit the supply zone at $0.6, as illustrated by spikes in Whale-to-Exchange Flow. 

XRPXRP

Source: CryptoQuant


Read XRP’s Price Prediction 2024–2025


If the trend repeats, and whales opt for sell-offs again at the level, XRP’s move above the supply zone could be derailed. In such a case, speculators can seek another market re-entry at $0.54 or $0.50 support levels. 

However, the bearish thesis could be invalidated if risk markets post a strong rally after the FOMC meeting.

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15 09, 2024

Alchemy Partners with Cross Finance to Power dApp Development

By |2024-09-15T10:15:54+03:00September 15, 2024|News, NFT News|0 Comments


San Francisco, USA, September 13th, 2024, Chainwire

Alchemy, the leading web3 development platform, has officially partnered with Cross Finance, an innovative DeFi platform, to power dApp development on the CrossFi Chain. This strategic collaboration will also see Alchemy become a core development partner, enabling the building and scaling of dApps on the CrossFi Chain and further advancing the possibilities of decentralized finance.

The CrossFi Chain, designed to bridge the gap between traditional and DeFi, provides an open, scalable infrastructure that empowers individuals and businesses to engage in secure, transparent, and efficient financial transactions. By partnering with Alchemy, Cross Finance leverages Alchemy’s robust dApp building tools to streamline development processes, powerful APIs, and state-of-the-art tools for developers building dApps on CrossFi.

“As Cross Finance launches its Mainnet, our goal is to push the boundaries of decentralized finance and deliver cutting-edge financial solutions,” said Alexandar Mamasidikov, CEO of Cross Finance. “Alchemy’s APIs and expertise in web3 dApp development will play a pivotal role in making CrossFi Chain the go-to platform for dApp development.”

Alchemy, known for its developer-first platform and robust APIs and SDKs, provides blockchain infrastructure that powers major networks like Ethereum, Polygon, and others. With this partnership, developers building on the CrossFi Chain will have access to Alchemy’s advanced API services, which facilitate everything from secure smart contract deployment to real-time data analytics. This will boost the performance and security of dApps.

Key Features of the Partnership Include:

  • Advanced Blockchain Infrastructure: Alchemy’s platform will provide dApp building toolsets for fast, scalable, and secure development on the CrossFi Chain.
  • Developer Support: Alchemy will work closely with CrossFi to provide developer tools and resources to allow teams to build and deploy decentralized applications more quickly and efficiently.
  • New dApp Ecosystem: The partnership will encourage innovation on the CrossFi Chain, with Alchemy’s support ensuring developers can create high-performing, secure, and reliable dApps across multiple industries.

“We’re thrilled to partner with CrossFi to onboard the next wave of builders to the CrossFi chain. Their ecosystem, uniquely coupling the benefits of Cosmos and EVM, provides builders with both scalability and efficiency, and is an amazing environment to deploy any dApp, from payments to cross-chain bridges. We’re excited to see what builders create on CrossFi!” said Suzanne Slaughter, Product Marketing Lead

With the upcoming launch of the CrossFi Mainnet, both companies are committed to fostering innovation within the blockchain ecosystem and providing developers with the tools they need to create solutions that will transform the future of finance. 

For more information on Cross Finance, please visit CrossFi.org.

For more information on Alchemy, please visit Alchemy.com.

About Cross Finance

Cross Finance is a decentralized finance platform focused on uniting traditional finance and DeFi to offer secure, transparent, and efficient financial services on a global scale. The CrossFi Chain is designed to enable seamless transactions and develop innovative decentralized applications.

About Alchemy

Alchemy is a leading blockchain development platform that provides the essential infrastructure and tools for developers to build high-performing decentralized applications. Alchemy’s technology powers the top blockchain applications globally, helping teams unlock the full potential of blockchain innovation.

Contacts

CEO & Founder
Alexander Mamasidikov
CrossFi Limited
owner@crossfi.org
CEO & Founder
Alexander Mamasidikov
CrossFi Limited
info@crossfi.org

Disclaimer: Press release sponsored by our commercial partners.

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15 09, 2024

Macquarie Sees “Heavy Surplus” for Oil in 2025, Cuts Oil Price Forecast

By |2024-09-15T10:02:17+03:00September 15, 2024|Forex News, News|0 Comments


  • Macquarie: “our balances contemplate heavy oversupply across the next five quarters”
  • This week, both OPEC and the International Energy Agency lowered their global oil demand growth forecasts.
  • The bank revised down its forecast for Brent Crude price by $2 per barrel to $80 for the rest of 2024.

Weaker-than-expected demand is set to tip the oil market into a surplus over the next five quarters, Macquarie said in a Friday note as it lowered its Brent and WTI oil forecasts for the rest of the year.

“As we enter shoulder and turnaround season, the ‘last hurrah’ for oil in the form of Q3 tightness is quickly fading as our balances contemplate heavy oversupply across the next five quarters,” according to the Macquarie note cited by BOEreport.com.  

The bank revised down its forecast for Brent Crude price by $2 per barrel to $80 for the rest of 2024. Macquarie cut by the same amount its estimate for the WTI Crude price, expecting it to average $75 a barrel for the remainder of the year.   

The market is set to tip into a “heavy surplus” in 2025 as non-OPEC+ supply is set to increase amid tepid demand growth. This expected heavy surplus could limit the need for the OPEC+ group to begin unwinding their production cuts, according to the bank. 

This week, both OPEC and the International Energy Agency (IEA) lowered their global oil demand growth forecasts, citing weaker Chinese consumption so far this year.

Despite the second consecutive downward revision of its demand growth estimate, OPEC is still much more optimistic than the IEA on Chinese and global oil consumption growth this year.

Other Wall Street banks have also recently lowered their oil price estimates.

Weaker Chinese oil demand, high inventories, and rising U.S. shale production have prompted Goldman Sachs to reduce its expected range for Brent oil prices by $5 to $70-$85 per barrel.

Just two weeks after lowering its Brent estimate to $80 per barrel for the fourth quarter, Morgan Stanley cut again its forecast, now expecting the international benchmark to average $75 a barrel in the last quarter of the year. Analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast.

By Charles Kennedy for Oilprice.com

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15 09, 2024

Sri Lanka’s tea industry faces crisis amid wage hike and tough conditions for workers

By |2024-09-15T07:17:28+03:00September 15, 2024|Dietary Supplements News, News|0 Comments


It’s 8am and there is sleeting rain — miserable conditions to be outside, let alone work in Sri Lanka’s tea fields.

But for Sagunthla, a mother of two, it’s just another day.

She wraps a plastic sheet over her head, ties a hessian sack on her back, and steps out into the cold to walk to the fields.

Women walk to the tea fields outside of Maskeliya, in the heart of the tea growing region of Sri Lanka. (ABC News: Libby Hogan)

“Look at my hands,” she says, thrusting them toward me.

Her fingers are a web of fine cuts — like paper cuts but deeper.

“This is very hard work,” she says, readjusting the strap of her basket.

Sagunthla is one of many Tamil women who make up the backbone of Sri Lanka’s tea industry.

The industry employs about 700,000 labourers — primarily women — most of whom work in the lush but gruelling highlands surrounding Nuwara Eliya in central Sri Lanka.

Close up of hands held to the camera with palms showing small cuts and marks.

Manual picking results in high-quality tea but it is a tiring process and many tea pickers have hands hardened with cuts. (ABC News: Libby Hogan)

Tea is central to the country’s economy, bringing in more than $1 billion a year and accounting for about 11 per cent of the country’s exports.

In 2021 alone, Australia imported $30 million worth of tea from Sri Lanka, roughly 33 per cent of its total tea consumption, according to UN Comtrade.

But Sri Lanka’s tea industry finds itself at a crossroad.

Three years ago, the government abruptly banned chemical fertilisers and pesticides, causing production to plummet by 18 per cent — a decision many now consider disastrous.

And in May this year, the government ordered a 70 per cent increase to plantation workers’ minimum wage, a move intended to improve their living standards.

A handful of bright great leaves in a hand, clutched tight.

Ceylon tea refers to tea produced in the highlands of Sri Lanka. (ABC News: Libby Hogan)

But plantation owners are struggling to balance profitability with demands for better pay.

Experts say drastic reforms are needed to keep the industry alive, and to improve conditions for workers like Sagunthla.

The human cost of tea

Before Sri Lanka became synonymous with tea, coffee dominated the island’s central highlands.

That started to change under British rule in the 1820s, when the first tea plant was brought to the island.

After the first export of tea received the seal of approval from English tea sippers, cultivation expanded rapidly.

A woman picks the tops tea plants with a pink plastic bag over her head as it rains.

Sri Lanka was the world’s largest exporter of tea in the 1960s.  (ABC News: Libby Hogan)

Soon, Ceylon tea, which refers to tea produced in the highlands of Sri Lanka, gained an international reputation, and by 1962, the country had become the world’s largest exporter of tea.

But the British quickly faced a problem: neither the local Sinhalese population nor the Tamils in northern Jaffna were willing to do the backbreaking work of picking tea.

To fill the labour gap, the British imported Indian Tamils who worked for a small fee or no pay in exchange for their passage to Sri Lanka.

Bound by contract, the workers lived in isolation on remote plantations with poor infrastructure.

A man looks over green fields as workers pluck tea.

Most supervisors at Sri Lanka’s tea plantations are male. (ABC News: Libby Hogan)

Pickers today say the patriarchal work system that was in place during those colonial times has continued mostly unchanged.

Male supervisors oversee the largely female workforce, dictating their daily tasks and enforcing strict quotas, often with little regard for the physical toll endured by the women.

Workers say conditions have hardly improved over the past five decades.

They live in cramped “line houses” — one-room quarters where they cook, sleep, and raise their families in the same space.

A blue small brick home with black washing hanging outside, a tuktuk and white stray dog sitting on step.

Families of tea pickers live in ‘line houses’ which are usually one-room homes located on the tea estates. (ABC News: Libby Hogan)

Muttamha, 59, has worked in the fields her whole life and finds the physical toll particularly grim during monsoon season.

“The leeches are the worst,” she says.

“We work all day, then go home to cook for our families. It’s too tough.”

A brown leech sucks on the wrist as a woman holds her hand out to the camera.

During the rainy season, leeches are common in the mountains, adding to the plight of tea pickers. (ABC News: Libby Hogan)

Balancing wage increase with sustainability

Tea pickers are required to harvest 18 kilograms of green tea leaves each day to earn the minimum wage, which increased by 70 per cent from 1,000 rupees ($5) to 1,700 rupees ($8.50) in May.

While this wage hike was intended to support workers, industry leaders argue it was implemented recklessly, without enough consultation.

Roshan Rajadurai, chair of the Planters’ Association of Ceylon, says the move is unsustainable, given rising production costs and a struggling economy.

The ongoing financial crisis meant farmers had to pay more for fuel and power.

“We’re not against wage increases, but they need to be tied to productivity,” Mr Rajadurai said.

Women wearing flipflops and carrying hessian bags on their bags walk to tea fields.

The $1 billion tea industry in Sri Lanka employs about 700,000 workers. (ABC News: Libby Hogan)

He is advocating for a more measured 35 per cent wage increase, because Sri Lanka’s tea industry is struggling with lower productivity and higher labour costs compared to competitors such as India and Kenya.

Industry experts say a low uptake of new technology, slow growth in production, increasing labour scarcity, and skills deficits have resulted in low productivity. 

Dilhan Fernando, chairman of Dilmah Ceylon Tea Company, acknowledges the need for improved wages and conditions, but stresses that sudden, drastic wage hikes threatens the industry’s profitability.

“The government is vilifying plantation companies, but the reality is, it’s a choice between survival and sustainability [or not],” Mr Fernando tells the ABC.

He says consumers and supermarket retailers need to be prepared to pay higher prices for tea.

Women work in lush green tea rows, a lake is in the background.

Tea industry experts say it will be difficult to balance the wage hike with rising production costs. (ABC News: Libby Hogan)

Mr Fernando also criticised smear narratives that claim all producers are bad, pointing to climate initiatives such as using biochar — a form of processed plant matter used to help grow crops — and an agroforestry model for soil regeneration that have been introduced by several estates.

He says during the pandemic, many estate owners such as Dilmah also built hospitals in isolated areas to provide urgent care.

“We want to increase sustainability and show socially conscious consumers how we support workers, from green initiatives to a program for young mothers,” Mr Fernando says.

“But we face constant pressure from a colonial economic system that demands low prices.

“We can’t survive in a race to the bottom.”

Tea wages graphic (1)

Productive output and wages of Sri Lankan workers compared to key competitors.  (ABC News: Jarrod Fankhauser)

Innovative models for the future

In an industry with a long history of worker exploitation, a few pioneers are shaking up conditions with bold initiatives.

Amba Estate, a 26-acre tea plantation near Ella, provides workers with essential gear including boots, leech socks, and raincoats.

And instead of a traditional seven-hour work day, workers’ hours are determined by how long it takes them to pick the best new tea leaves and collectively sort through and process their harvest.

On a typical day, workers spend a few hours plucking tea, weighing their hauls in the measuring room, logging the flavour profiles, and spreading the leaves to dry.

The estate uses modern technology and a simple drying set-up, replacing colonial-era machinery to make the process quicker and more accessible.

They also have a 10 per cent revenue-sharing scheme, which supplements workers’ monthly base salary.

“We pay out the revenue share whether we’re profitable or not,” Amba Estate owner Simon Bell tells the ABC.

He says it has resulted in higher-quality tea, produced by workers who feel a sense of pride and ownership in what they produce.

A woman wearing a mask and green apron weighs a basket of tea leaves.

Amba Estate is a pioneer of the revenue-sharing scheme in Sri Lanka’s tea industry. (Supplied: Amba Estate)

Jesmine Fernando, an accounts manager at Amba Estate, says at some tea estates women are paid less than men despite working more hours.

“But here, everybody has the same hours, we work together and get paid equally.”

Amba Estate tea workers

At Amba Estate all staff are involved in the picking, measuring, and drying process. (Supplied: ABC News)

Other estates are also following suit and shaking up their approach.

Some have implemented productivity-based models that reward workers for hitting their targets, rather than set hours per day.

Once workers pluck the set target, they can finish their work day.

A woman with a green hat and apron and white mask on sorts green leaves in a basket

Workers at Amba Estate work say they support the revenue-sharing scheme. (Supplied: Amba Estate)

It’s a market-driven system aimed at incentivising efficiency and improving conditions.

Despite the success stories, Mr Rajadurai from the planters’ association says many tea estate owners have a stubborn mindset.

A woman dressed in light blue holds a baby wearing a red beanie and blue jumper.

Many mothers say they hope their children never have to work in the fields. (ABC News: Libby Hogan)

“Even when we show them the evidence, people are hesitant to try something new,” he says.

Many in the industry are calling for diversification into tourism or alternative crops, such as less labour-intensive coffee, to stay afloat.

“If the industry doesn’t change now it will be a slow, sure death,” Mr Rajadurai says.

Workers shortage and upskilling for the future

Another challenge is finding workers.

Many tea pickers’ children show little interest in following their parents into the fields, preferring instead to seek other job opportunities. 

NGOs like Tealeaf Trust are helping those children carve out futures beyond the harsh conditions of plantations.

Their programs, which have reached more than 3,000 Tamil youth, teach English and IT skills, and promote professional development.

A woman with long brown hair stands next to a green field.

Yadharshi Selvaraj is passionate about teaching children a range of skills so they can apply for jobs beyond tea fields. (ABC News: Libby Hogan)

For Yadharshi Selvaraj, the director of Tealeaf Trust and daughter of a tea picker, the mission is personal.

Reflecting on her own childhood, she recalls facing discrimination at school because of her family’s social status.

“I was never chosen for presentations because my shirt was always yellowed from the wood smoke we used to cook,” she said.

A group of men and women stand around artwork and photos on walls, smiling at the camera.

Young Tamil people in tea estates are often disadvantaged in accessing education, but Tea Leaf Trust is filling the gap by providing further training. (ABC News: Libby Hogan)

Today, she strives to empower Tamil children — especially girls — to pursue their dreams, encouraging them to break free from the cycle of poverty and exploitation faced by their community for generations.

“I want them to know they are not weak,” she said.

“They can do anything they want in life.”



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15 09, 2024

XRP Beat Major Cryptos with 4% Surge, Will Its Price Hit $0.73?

By |2024-09-15T02:14:11+03:00September 15, 2024|Crypto News, News|0 Comments

As of September 15, 2024, the overall cryptocurrency market has been struggling to gain momentum including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Amid this market downturn, Ripple’s native token XRP has outshined these major cryptos with a 4% price jump and is currently gaining significant attention from investors and traders.

The Reason Why XRP Skyrockets

It appears that XRP is poised for massive upside momentum, potentially due to several positive developments, including:

  • The recent announcement of the Grayscale XRP trust in the United States.
  • Ripple’s Chief Legal Officer (CLO) announced that XRP’s lawsuit is officially over.
  • The reduction of the penalty from $2 billion to $125 million. 

These recent positive developments have attracted investors and institutions, sparking optimism in the market.

Current Price Performance 

At press time, XRP is trading near the $0.597 level and has experienced a price surge of over 4% in the last 24 hours. During the same period, its trading volume declined by 2%, indicating lower participation from traders and investors amid the current market sentiment.

XRP Price Prediction

According to expert technical analysis, XRP appears bullish as it is trading above the 200 Exponential Moving Average (EMA) on the daily time frame. The 200 EMA is a technical indicator used to determine whether an asset is in an uptrend or downtrend. 

Source: Trading View

Given the current market sentiment, XRP is heading toward the $0.65 level, its upcoming resistance level. Based on the historical price momentum, if XRP closes a daily candle above the $0.65 level, there is a strong possibility it could reach the $0.75 level in the coming days.

XRP’s Bullish On-chain Metric

This bullish outlook is further supported by the on-chain metrics. According to Coinglass data, XRP’s Long/Short ratio currently stands at 1.027, indicating bullish market sentiment. Additionally, 50.36% of top traders hold long positions, while 49.64% hold short positions, showing that bulls are dominating the asset.

XRP Beat Major Cryptos with 4% Surge, Will Its Price Hit alt=
Source: CoinGlass

Moreover, XRP’s future open interest has increased by 9% in the last 24 hours and continues to rise, signaling growing bullish bets on long positions.

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14 09, 2024

USD/JPY Weekly Forecast: Fed Cut, Hawkish BOJ to Trigger Bears

By |2024-09-14T22:10:53+03:00September 14, 2024|Forex News, News|0 Comments

  • The dollar fell due to renewed bets for a 50 bps September Fed rate cut.
  • Several Bank of Japan policymakers drummed up support for more rate hikes.
  • Investors will focus on the FOMC and BoJ policy meetings.

The USD/JPY weekly forecast indicates a potential collapse if the Fed cuts by 50-bps and the Bank of Japan delivers a hawkish meeting.

Ups and downs of USD/JPY

USD/JPY has fallen and closed on a bearish candle in the past week. This came as the dollar collapsed while the yen strengthened. The dollar fell due to renewed bets for a 50 bps rate cut towards the end of the week. Initially, inflation reports had pointed to a smaller cut. 

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On the other hand, the yen rallied as several Bank of Japan policymakers drummed up support for more rate hikes.

Next week’s key events for USD/JPY 

USD/JPY Weekly Forecast: Fed Cut, Hawkish BOJ to Trigger Bears

Next week, investors will focus on the FOMC policy meeting and retail sales data from the US. At the same time, the Bank of Japan will hold its policy meeting on Friday. Investors have waited for the September Fed meeting for a long time. The Fed will likely pivot at this meeting, implementing its first rate cut.

However, investors are unsure whether this will be 25 or 50 bps. A small rate cut could boost the dollar as it would precede a gradual pace for easing. On the other hand, a large rate cut would sink the greenback.

Meanwhile, the Bank of Japan might maintain rates for now. However, economists are pricing another rate hike before the year ends. 

USD/JPY weekly technical forecast: Bullish divergence near 140.07 

USD/JPY weekly technical forecastUSD/JPY weekly technical forecast
USD/JPY 4-hour chart

On the technical side, the USD/JPY price has made a new low in the downtrend after breaking below the 144.00 support level. Bears have remained in charge since the price broke below the 22/SMA, and the RSI dipped below 50. Since then, the price has declined steeply and paused near the 140.07 support level. 

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However, bears have weakened with time, and the price started consolidating near the 22-SMA. At the same time, the RSI has made a bullish divergence, indicating fading bearish momentum. Therefore, the tides might soon change. If bears fail to breach the 140.07 support, the price might reverse to challenge the 22-SMA and the 144.00 level.

A break above the SMA would indicate a shift in sentiment. On the other hand, if the SMA holds firm, the downtrend might continue.

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14 09, 2024

Ethereum (ETH) Price Prediction for September 14

By |2024-09-14T22:09:38+03:00September 14, 2024|Crypto News, News|0 Comments

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Buyers are trying to hold the gained initiative at the beginning of the weekend, according to CoinStats.

Article image
ETH chart by CoinStats

ETH/USD

The rate of Ethereum (ETH) has gone up by 2.20% over the past 24 hours.

Article image
Image by TradingView

On the hourly chart, the price of ETH is rising after a false breakout of the local support level of $2,411. If the daily bar closes far from it, the growth may continue to the resistance by tomorrow.

Article image
Image by TradingView

On the bigger time frame, traders should focus on the level of $2,466. If a breakout happens, the accumulated might be enough for a continued upward move to the $2,500-$2,600 range.

Related

Bitcoin (BTC) Price Prediction for September 13

Such a scenario is relevant until the end of the upcoming week.

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Image by TradingView

From the midterm point of view, buyers do not have enough strength to keep rising even if the weekly bar closes around the current prices. In this case, a consolidation in the zone of $2,300-$2,600 is the more likely scenario.

Ethereum is trading at $2,418 at press time.

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14 09, 2024

Study Reveals Popular Herbal Supplements Which Are Linked To Potential Liver Risk

By |2024-09-14T19:06:33+03:00September 14, 2024|Dietary Supplements News, News|0 Comments


Study Reveals Popular Herbal Supplements Which Are Linked To Potential Liver Risk. (Image: iStock)

Herbs and plants have been used for medicinal purposes for thousands of years now. It is believed that most herbal supplements are “natural” and don’t require any sort of approval by the US FDA before going to the market. However, now, a new study from researchers at the University of Michigan reports that an estimated 15.6 million US adults, which is 5%, have taken at least one herbal supplement in the last 30 days that might be damaging to their liver, or hepatotoxic.

As a part of the research, experts analyzed data from more than 9,500 US adults with an average age of 47.5. Medical data on these participants included prescription drug and herbal supplement use.

The researchers focused on study participant use of six herbal supplements. This included:

  • ashwagandha
  • black cohoshTrusted Source
  • Garcinia cambogiaTrusted Source
  • green tea extract
  • red yeast rice
  • turmeric or curcumin

Alisa Likhitsup, MD, MPH, clinical assistant professor in the Department of Internal Medicine and lead author of this study, while speaking to Medical News Today said, “Potentially hepatotoxic botanical products are the products that contain plant-based ingredients which have been implicated as potential causes of liver damage. How these products cause liver damage is not yet known but it is likely due to metabolism that occurs in the liver after the products were consumed.”

She concluded by saying, “As a practicing hepatologist, I have seen patients who had liver injury from taking dietary supplements and some were fatal which required emergency liver transplant. Data from Drug Induced Liver Injury Network reported the rates of liver injury due to botanical products has been on the rise from 7% in 2004-2005 to 20% in 2013-2014. Therefore, I had (an) interest to analyze the prevalence and see how many Americans were consuming these products.”

At the study’s conclusion, Alisa and her team found that about 58% of all participants reported using an herbal or dietary supplement at least once within the 30-day period. And about 5% of participants said they had taken at least one of the six potentially hepatotoxic botanicals in the past 30 days.

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