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Top crypto exchange LBank hosts successful exhibition and afterparty at Token 2049

Global crypto exchange, LBank, joined Token 2049 in Singapore as sponsor and exhibitor. LBank was welcomed with open arms at the Token 2049 venue and continued to host a successful after-party. As one of the rise-and-coming major crypto hubs, Singapore hosted a diverse crowd of crypto lovers and gave LBank the great chance of meeting many users and fans in person. 
 With over 7000 attendees and 2000 companies represented, TOKEN 2049 is currently the biggest event in crypto. The event also coincides with the Formula 1 Singapore Grand Prix, making Singapore the most exciting place to be at the moment. LBank’s team was very glad for this opportunity to connect with our Asia-based users and partners. 
LBank had the honor of exhibiting at Token 2049 and meeting many projects, partners, and media representatives at the event. “It was good to see everyone face to face, as most of the time we communicate online. We are looking forward to working with LBank soon” a partner said. 
On September 29th, LBank hosted a successful “LBank & Friends” Afterparty for people to have a chance to socialize after the main conference. The event, which was co-hosted by Encryptus and MetaBell, saw a diverse gathering of friends from all corners of the industry, with more than 300 people attending. 
LBank’s exhibition at TOKEN 2049 came alongside LBank’s current brand upgrade, including airdrops and other events. This was the first time LBank used its new logo and brand material in an offline conference. “Token 2049 is the best opportunity to show our new logo and share our future plans. One can’t ask for a more friendly, energetic space than this” said a representative from LBank. 
About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.
 Start Trading Now: lbank.com
 Community & Social Media:
Telegram – https://t.me/LBank_en
Twitter – https://twitter.com/LBank_Exchange
Facebook – https://www.facebook.com/LBank.info
LinkedIn – https://www.linkedin.com/company/lbank
Instagram – https://www.instagram.com/lbank_exchange/
YouTube – https://www.youtube.com/c/LBankExchange
 Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
[email protected]
Disclaimer: This is a paid post and should not be treated as news/advice.

Why AVAX is poised to deliver at least 10% upside in next few days

Avalanche [AVAX] holders may be in for a slight bullish opportunity this week as its price action showed some potential pivot signs.
Given that AVAX concluded the last two weeks of September with a bearish performance, these signs offered traders some relief.
AVAX’s downside in the last four weeks meant that it eliminated the gains it achieved since the start of July.
The drawdown also underscored the main reason why AVAX might embark on a bullish relief by at least 10% or so.
The alt bottomed out at $16.47 on 2 October, putting it within the current short-term support range. The price established a buy wall within this range at the start of Q3 (early July). The second retest of the same buy wall occurred in the third week of September.
Source: TradingView
The same support level was still strong as of 3 October considering that AVAX bears had already given way to a 2.48% uptick.
The price could, thus, achieve a 10% uptick from the support line before encountering short-term friction within its current range.
Avalanche implements PoS-related upgrade
A positive announcement especially regarding Avalanche’s development would likely boost investors’ confidence during the pivot. The network’s Banff activation was a potential candidate for a catalyst considering AVAX’s position on 3 October.

🚨🚨 Banff Activation on **Fuji** is ~9 Hours Away 🚨🚨
Make sure to upgrade any nodes you are running on **Fuji** before 10 AM EST to avoid downtime!https://t.co/QfjcgN5NzZ https://t.co/Gsn2Jr61MW
— Patrick “The Faucet” O’Grady 🔺 (@_patrickogrady) October 3, 2022

Additionally, investors should note that the activation was not expected to provide a direct impact on AVAX’s price action. However, it might provide some exposure to organic demand for the cryptocurrency in the long term depending on the level of activity by subnet creators.
As far as on-chain activity was concerned, development activity picked slightly since the end of September.
The increase in the metric in the last three days was likely due to activity related to the Banff activation. A refreshing change for investors because the same metric indicated declining developer activity for most of September.
Not to forget, investors often consider healthy development activity as a good sign for a blockchain network.
Similarly, social volume demonstrated a sizable spike as per data retrieved on 3 October. This suggested that it was receiving more social exposure which may have the potential to attract more liquidity.
Source: Santiment
While social volume underscored a return of interest in the AVAX, NFT trades revealed a clearer picture of organic demand.
Well, NFT trades volumes metric witnessed an increase in the last seven days relative to the volumes observed in the previous three weeks.
Source: Santiment
The higher NFT trades volumes in the last few days added to the positive observations favoring the probability of a bullish pivot.
Furthermore, the above-mentioned factors strengthen the case for a bullish relief.
However, investors should also take into account market forces and the possibility of an unexpected event that may push for more downside.

LUNC critics keep up the tempo despite being opposed but is utility key

The Terra Classic [LUNC] community’s objective to revive the trust in the project was met with strong criticism and unrequested suggestions. Since revealing its roadmap on 29 September, LUNC has had to deal with these “vices” daily.
The latest of this lot is David Gokhshtein. The popular crypto investor had formerly been a strong LUNC critic. However, he had made a U-turn in recent days by passively supporting the community.
Gokhshtein, who also doubles as a media mogul, tweeted that LUNC needed more than the regular token burn to sustain the project. According to him, the community needed to infuse utility to remain relevant or reach key milestones like Shiba Inu [SHIB].

$LUNC reminds me a bit of the $SHIB — in a sense of how crazy the community was when they first popped on the scene.
But utility is key.
— David Gokhshtein (@davidgokhshtein) October 3, 2022

No stopping us now
Despite the numerous attacks, it didn’t seem like the LUNC community was ready to give up. Before now, it had claimed it was working independently of wanted Terra founder, Do Kwon. Furthermore, Santiment showed that development activity on LUNC was about taking the north route. This implied that the LUNC community may have begun work on its publicized roadmap.
Moreover, there was a downside that LUNC could not halt its trend. According to Santiment, the on-chain data platform, the whale belief in the token was not as much as it was sometime ago. At press time, the LUNC stablecoin whale supply was 42. This was the position it fell to since increased interest on 25 September.
Source: Santiment
On the burn rate aspect, the LUNC community seemed not to share the opinion of Gokhshtein. This was because the LUNC burn since the Binance support had continued to increase. Over the last 24 hours, the total LUNC burned was 7.87 billion. Close to half of this number was achieved after the 1.2% tax activation. 

🔥Total burned $Lunc: 7.87b🔥 🔥Total since 1.2% burn tax: 3.5b🔥$Lunc t/s: 6,899,501,432,439$Ustc t/s: 9,815,335,722$Lunc staked:bonded: 657,205,393,770unbonded: 45,942,565,414% total supply: 9.52% 🔐#Lunc #LUNCcommunity #ThanksCZ #luncburn #CoinbaseListLunc
— LUNC Burn (@LunaBurn_13) October 3, 2022

Besides that, LUNC did not act like it needed any utility to achieve its goal or grab the crypto community’s attention. This was because the LUNC volume incredibly increased in the last 24 hours. According to Santiment data, LUNC left the 300 million zone and went as high as 1.3 billion on 2 October. While the volume had decreased to $838.06 million at press time, the LUNC price was holding still at $0.00033.
Source: Santiment
Following all these events, the LUNC community remained resolute in its pursuit of importance. In a recent tweet, the LUNC community seemed to be talking with two crypto exchanges to expand the 1.2% tax burn rate support. Based on the tweet, Coinbase was slowing down on the listing already agreed upon.

Day 5/♾️
Asking @kucoincom and @krakenfx to implement a burn for #LUNC on spot and margin trades ⚡️🚀
Also @coinbase you’re really delaying the listing… hurry up 🚀
— LUNC Community 🌓 (@lunaclassic_co) October 3, 2022

Despite Uniswap’s impeccable social performance, UNI’s rally may be in question

Uniswap [UNI] witnessed some massive growth in terms of social activity in the past few weeks, according to the social media analytics firm LunarCrush. Additionally, Uniswap also witnessed a spike in development activity. 
LunarCrush tweeted on 2 October that Uniswap was the “coin of the day” indicating that it had outperformed other cryptocurrencies on the social front. Furthermore, Uniswap’s social mentions had increased by 59.09% over the last week. Its social engagements and contributors also grew by 51.51% and 33.92% respectively.
UNI: A social butterfly
 As can be seen from the image below, the weighted sentiment for the Uniswap token was also positive, especially from 28 September till 30 September. However, the sentiment took a sharp dip from the 1 October, suggesting that the public sentiment around UNI had changed.
Source: Santiment
Although the sentiment for Uniswap on the social front wasn’t impressive at the time of press there was another development for potential investors. Uniswap’s development activity witnessed a surge over the last week. Since 29 September, Uniswap’s development activity witnessed a massive spike and continued to stay the same throughout the week.
One of the reasons for the spike in development activity could be Uniswap’s Swap widget update. The constant updates and upgrades that were made on Uniswap could thus, be perceived as a bullish sign.
Source: Santiment
Not without ifs and buts…
Despite the nature of Uniswap’s new updates, they haven’t done much for the protocol’s TVL. This can also be observed from the chart below. The overall TVL maintained a similar level as was witnessed throughout September. At press time the Uniswap’s TVL stood at 5.16 billion.
Source: DeFiLlama
Even though users hadn’t been showing much interest in Uniswap’s DeFi protocols, whales did show some inclination towards the UNI token.
Furthermore, the supply held by top addresses also witnessed a spike since 12 September. An interest from whales could be a positive indicator for the future of the token. However, UNI’s velocity was on a downhill since the past few days indicating that the number of times UNI exchanged wallet addresses had reduced.
Source: Santiment

Celsius: Investors hoping for better days may be disappointed amid CEL’s 8.3% drop

The Celsius [CEL] token witnessed multiple highs and lows over the past month due to the bankruptcy proceedings and the events surrounding CEL’s lawsuit. With multiple factors such as lawsuits, short squeeze movement, and volatile price movements, can the Celsius token recover in the long term?
A difficult task at hand
The token’s Market Value to Realized Value (MVRV) ratio didn’t indicate towards any improvements in the situation. As can be seen from the image below, CEL’s MVRV ratio had been declining since the past week. Furthermore, the token’s velocity had been depreciating as well, indicating that the token wasn’t being exchanged across addresses.
Both of these on-chain metrics pointed towards an extremely bearish future for the token. However, the bad news doesn’t end there.
Source: Santiment
There had been a massive decline in the Celsius token’s volume since last month. The volume depreciated from 19.8 million all the way to 4.49 million over the course of two weeks. Its market cap also went on a downward trajectory and depreciated by 8.28% in the last seven days.
One of the reasons for the decline in Celsius’ volume and market cap could be the decline in the number of active addresses on the Celsius network. The number of active addresses also saw a huge drop over the past month which could also be interpreted as a bearish indicator by investors. 
Source: Santiment
Along with its declining volume, the token’s social front wasn’t very strong either. The number of social mentions fell by 15.3% and its number of engagements declined by 10.5%.
Even though there had been some spikes observed in the Celsius social volume, the token hadn’t been able to make too much of an impact on the whole. However, the sentiment around the token was largely positive throughout the month, indicating that the crypto community had a positive outlook.
Source: Santiment
Positive yet negative
Despite the crypto community’s positive sentiment, the CEL token had not been able to move in a positive direction over the past few days. CEL’s price had depreciated by 15% since 28 September. The price was testing the $1.31 support level at the time of press.
Furthermore, the Relative Strength Index (RSI) stood at 34.20 indicating that the momentum was with the sellers. However, the Chaikin Money Flow (CMF) which had been slowly climbing up, showed a slight bias towards the buyers as was 0.03 at press time.
Source: TradingView

Ethereum: This Merge aftermath may put ETH in a fix

It has been a little more than two weeks since the world’s second largest cryptocurrency Ethereum [ETH] went through a landmark alteration. ETH managed to switch from the energy intensive proof-of-work (PoW) consensus model to the eco-friendly proof-of-stake (PoS) model, in what came to be known as the Merge
In simple words, this Merge effectively rendered all ETH mining obsolete, and ushered in the era of ETH staking. This worked out out in the interest of the network by making it more secure and sustainable.
A little about ETH staking
Ethereum staking is basically becoming a validator for the network. This however, comes at a price, a steep one at that. A deposit of 32 ETH or roughly $41,000 is required to become a validator. This prerequisite thins out a herd of possible stakers.
According to Ethereum’s website,
“As a validator you’ll be responsible for storing data, processing transactions, and adding new blocks to the blockchain. This will keep Ethereum secure for everyone and earn you new ETH in the process.”
Staking not for everyone?
Those who were involved with mining ETH, felt the heat in the consensus model. Reddit Community members on the official Ethereum subreddit, consisting of more than 1.5 million builders, pointed out the shortcomings of the Merge. 
One member pointed out to the hard work that goes behind the set-up for staking, admitting that the new staking version “is not for everyone yet”.
Bandwidth consumption was another issue that was brought up in this discussion. Validators from the United States pointed out that the bandwidth usage had gone up thanks to Ethereum staking setups. Furthermore, some subreddit users also stated that the increased spending on bandwidth was eating into the profit made from staking. 
Most community members agreed with the fact that it would require a tech savvy person to get started with staking ETH. Users were quick to compare staking to mining, which was comparatively simpler given that a software does all the hard work if the right equipment is available. 
Additionally, some subreddit users did encourage all those who found the staking model too difficult, to hold out for more user-friendly ways to participate in the staking process. 
Looking at the future 
The aforementioned issues could cause a bunch of validators to move towards the hard-forked version of ETH, ETHW. Furthermore, a number of exchanges including Binance have extended their support to ETHW. These exchanges have also rolled out ETHW centric mining pools, making validator migration a very real possibility. 
 

Source: Santiment
Furthermore, as per data from on-chain analytics platform Santiment development activity on the Ethereum network has gone down after 15 September. Could this be a sign of individuals losing interest in the blockchain? Only time will tell. 

WAVES: Here are the odds on the altcoin noting more losses on the charts

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

$4 or $3.3, which one first for WAVES?
Price was back at September lows, a bounce could materialize

With a market capitalization of $410 million, Waves was ranked 85th, at press time. However, the asset has seen far better days. In March, it traded near the $60-mark but has been in a pronounced downtrend since then.
At the time of writing, the $3.75-level was one to watch out for. A few days ago, the platform tweeted about the Waves School lessons and Waves believes it is a great step forward in introducing crypto and NFTs to the masses.
Waves bulls routed as liquidity pocket is retested
Source: WAVES/USDT on TradingView
On the 12-hour chart, the structure of WAVES was bearish and the downtrend was strong as well. The price surged in mid-September but it was still unable to beat the previous lower high. On a lower timeframe, the $3.7-pocket of liquidity had seen multiple candlewicks in the past month, followed by a decent bounce.
With time, these bounces weakened as the sellers gained more and more confidence following each retest. The past couple of days saw this zone flipped to resistance.
The indicators showed a bearish bias for WAVES as well. The RSI was at 36 and has been below neutral 50 for the better part of the past month. At the same time, the Directional Movement Index also indicated a significant downtrend in progress as both the -DI (red) and the ADX (yellow) were above 20.
Sentiment down, Bitcoin correlation doesn’t help either
Source: Santiment
Right off the bat, the Santiment chart showed WAVES to move in tandem with Bitcoin on the price chart. This highlighted the fact that in recent months, Bitcoin has had a strong influence on the sentiment behind altcoins. It could take an uptrend for Bitcoin to revive bullish hopes behind altcoins, which in turn could depend on the health of global indices.
The total Weighted Sentiment has also been negative, which reflected the sentiment behind the asset on the price charts.
All together, the bearish sentiment across the market meant Waves also faced strong selling pressure. The technical structure favoured the bears and the $3.75 and $4 were strong resistance levels.
A move above $4 could provide some compelling evidence of a shift in market structure. However, with Bitcoin unable to beat the $20.5k resistance, another leg downward could slowly unfurl on the price charts of WAVES.

Ethereum: This underestimated asset may be ETH’s savior in the days to come

Ethereum’s [ETH] performance witnessed a pretty sluggish turn recently as the altcoin failed to register any significant price changes. Since the much awaited ETH Merge, the coin’s performance witnessed a severe decline and, at the time of writing, was over 2% lower than 2 October.
Furthermore, a number of developments pointed in the direction of a possible downtrend in the coming days. For instance, Glassnode’s data revealed that the ETH net exchange outflow decreased considerably and fell to a one-month low of 9,509.190 ETH.
This was a massive bear signal as a decrease in exchange outflow usually indicates higher selling pressure. As per data from CoinMarketCap, ETH was trading at $1,292.00 with a market capitalization of $158,349,008,857.

📉 #Ethereum $ETH Exchange Outflow Volume (7d MA) just reached a 1-month low of 9,509.190 ETH
Previous 1-month low of 9,523.752 ETH was observed on 05 September 2022
View metric:https://t.co/LzFffVHu6i pic.twitter.com/JfNqfv8sKv
— glassnode alerts (@glassnodealerts) October 3, 2022

Interestingly, several analysts also articulated their opinion of a bear market for ETH. Not only that, but a look into ETH’s metrics also painted a not-so-pleasant picture. 
Investors, be ready for a plummet 
Crypto Sunmoon, an author and analyst at CryptoQuant, recently published an assessment that revealed the possibility of a further downtrend. He mentioned that as exchange inflow (mean) continued to climb between 2020 and 2021, the price of ETH quickly surged.
The increasing exchange inflow (mean) indicated towards a short-term and long-term low. Moreover, he also stated that he didn’t witness any bullish signals for Ethereum in the near future. 
Source: CryptoQuant
What do the metrics say?
Interestingly, Ethereum’s on-chain metrics also indicated a similar outcome in the coming days. Though ETH’s Market Value to Realized Value (MVRV) Ratio registered a slight uptick, it was still considerably below its September levels, which was a bear signal.
Furthermore, Ethereum’s development activity also decreased over the last week, which by and large was a red flag for a blockchain. Moreover, the volume of ETH also followed a similar route and registered a downtrend. 
Source: Santiment
A ray of hope? 
Despite the unpleasant state of the altcoin, the only sigh of relief came from the Ethereum NFT space. While average NFT daily trading volumes fell substantially, the fall in the average number of daily traders was extremely slow. This pointed towards a loyal customer base of roughly 40,000 per day. Therefore, despite the downfall of ETH’s price, its NFT space users were affected to a minimum.

How did @Ethereum NFTs fare during Q3?
While the average NFT daily trading volumes dropped dramatically, the average number of daily traders witnessed a much smaller decline.
This indicates a sticky base of committed users at around 40,000 per day. pic.twitter.com/yFPAyFKVY7
— Messari (@MessariCrypto) October 3, 2022

The abovementioned development was also evident by looking at Santiment’s chart. According to the data, Ethereum’s total NFT trade volume in USD registered an uptick in the last few days, which was a positive signal.
Source: Santiment
Considering all the developments and on-chain metrics, one can’t expect ETH to begin its next bull-rally anytime soon. However, with some heat in the altcoin’s NFT space, there was a slight possibility for ETH to turn the table in its favor. 

Nothing ‘unique’ about Tornado Cash as sanctions continue to pinch TORN

Can it be any worse for the already-troubled crypto-mixer Tornado Cash? Not just on the regulatory side, but even on-chain metrics have now revealed a depressing story. From monthly users to weekly deposits and withdrawals and much more…
Dying eye of this tornado
Crypto-mixer Tornado Cash saw a significant drop in activity following the sanctions by the U.S. Treasury. Starting right from unique users on Dune Analytics, the drop was a significant one.
Data from Dune reveals a significant drop in unique users per week since the announcement of the sanctions in August 2022. In fact, the month of September saw unique users fall well below 100.
Source: Dune Analytics
This, indeed, is a sharp decline to say the least. From all-time highs in terms of unique users to potentially a permanent low.
Overall, monthly users fell by over 50% from over 2,600 in July to less than 1,000 the month after. This evidenced the >50% drop in users, as seen in the graph above.
Furthermore, when deposits and withdrawals on a weekly basis were looked at, a similar picture seemed to emerge. In fact, in the last week of September, weekly deposits and withdrawals amounted to $3.6 million and $5 million, respectively.
Source: Dune Analytics
These numbers basically went from amounting to $190 million+ in Q2 (for both segments) to the aforementioned numbers above.
Why ‘always’ ME
Well, that’s exactly the case. Tornado Cash seems to have become the #1 destination for cyber-criminals looking to launder their ill-gotten funds. First of all, the platform had been used by the North Korean state-sponsored hacking group Lazarus Group. At the time, the Treasury had said that Tornado Cash has been used to launder more than $7 billion since its creation.
That’s not all either, with the TransitSwap hacker using Tornado Cash to move some stolen funds too.

TransitSwap hacker moved some stolen funds to Tornado Cash and said: I only exploited eth and bsc. If I attack other chains, I can get $100m. I should get a higher bounty than what I get now. It’s hard not to suspect that this is your official backdoor. https://t.co/GNgDyG1FJD https://t.co/LxyUQOGXQg
— Wu Blockchain (@WuBlockchain) October 3, 2022

The crypto-community as a whole has suffered severe repercussions following this latest Tornado Cash episode. For instance, according to Messari, USDC’s utility took a massive hit immediately after the Tornado Cash sanctions fiasco.
Finally, the price of the native token TORN has fallen by over 20% since. At press time, it was consolidating around the $6.26-mark on the price charts.
Ergo, the question – Any better days ahead?

This socialite is the next to make it to the SEC hitlist on grounds of…

The Securities and Exchange Commission (SEC), on 3 October,  charged American model and socialite Kim Kardashian for touting a crypto asset security on social media. The TV personality also failed to disclose that she received a payment for the promotion of the same.
The SEC claimed that Kardashian was paid $250,000 to promote EMAX tokens on Instagram that are sold by EthereumMax. Kardashian agreed to pay penalties, disgorgement, and interest worth $1.26 million and cooperate with the Commission’s ongoing investigation.
Violation of anti-touting provision
According to the SEC’s order, Kardashian violated the anti-touting provision of the federal securities laws. She further agreed to not engage in the promotion of any crypto asset or securities for the next three years.

Today @SECGov, we charged Kim Kardashian for unlawfully touting a crypto security.
This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn’t mean those investment products are right for all investors.
— Gary Gensler (@GaryGensler) October 3, 2022

Gary Gensler, SEC Chair, also commented on the issue at hand. He reiterated that endorsement of a particular investment options, including crypto asset securities doesn’t make these assets legitimate. He further added that endorsements by celebrities or influencers shouldn’t be considered as genuine. Individuals should conduct their own study before investing.
“The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement.
This isn’t the first time that the SEC has cautioned individuals about trusting celebrities or influencers endorsing potentially unlawful assets. In November 2017, the SEC warned investors about possible unlawful endorsements of Initial Coin Offerings (ICOs). It had also cautioned that celebrities might not be well informed about the assets being endorsed.
Furthermore, the SEC had imposed penalties on professional boxer Floyd Mayweather and musician DJ Khaled in 2018. The above-mentioned public personalities also failed to disclose the compensation received for promoting ICOs.
The SEC stance…
SEC Chair Gary Gensler stated that the case serves as a reminder for celebrities. This is because they are obliged by law to provide public disclosure if they are being paid to promote an investment in securities.
Additionally, they are also obliged to disclose the nature, source, and amount of compensation offered by the company for promotional activities on social media.