Daily News | Musk Plans to Charge All Twitter Users, Citigroup Launches Token Services, What Will the Fed Say When Gold Prices Stand at $1930?

2023-09-19, 05:21

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## Crypto Daily Digest: Musk plans to charge all Twitter users; Citigroup launches token service
According to The Information, Musk stated in a live broadcast with Israeli Prime Minister Netanyahu on Monday that Twitter will start charging users a small monthly fee to combat robots and spam on the platform. Musk did not disclose the new sub_script_ion fee, but called it a "small sum of money." He did not specify the charging plan in detail, nor did he disclose when the charges would start.

According to Bloomberg, Citigroup has launched a token service as part of a broader push to provide digital assets to institutional clients. The new product converts customer deposits into digital tokens, which are provided by the company's finance and trade solutions department. To date, the department has been committed to using this service to improve cash management and trade financing capabilities.

The statement states that for Citigroup's new products, the company will rely on the private blockchain owned and managed by the bank. Customers do not need to set up their own digital wallet but can access the service through the bank's existing system.

The Grayscale announcement represents the shareholders of each product record date as of the end of business on September 26, 2022. It irrevocably waives all rights to ETHW (ETHPoW) allocated to such record-date shareholders. Grayscale representation, after thorough review and consultation with the product service provider, it has been determined that the product custodian does not support ETHPoW tokens and has not developed a trading venue with meaningful liquidity for ETHPoW tokens.

Therefore, it is impossible to exercise the right to acquire and sell ETHPoW tokens, as the Grayscale represents a waiver of rights by the holders of record date shares over these assets. BlockBeats previously reported that on September 16, last year, according to an official announcement, Grayscale stated that its ETHE and GDLC funds had passively obtained approximately 3.1 million ETHW airdrop tokens, and would seek to sell these tokens within feasible limits and distribute the net cash proceeds to relevant shareholders.

According to Bloomberg, Ant Group plans to withdraw from its $100 million fund and exit the cryptocurrency sector. According to insiders, Ant Group plans to withdraw from its investment in A&T Capital, which is the core of Ant Group's bet in the digital asset field. It is currently unclear whether this venture capital company will continue to operate or attract new investors. As of Monday afternoon, the company's website returned a timeout error to users. A spokesperson for Ant Group did not respond to requests for comment.

A&T was founded in April 2021 and has invested in some of the most popular crypto startups, including Matrixport, a digital asset lending institution, and ConsenSys, an <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> software manufacturer. Ant Group is a major investor in A&T. According to PitchBook's data, crypto venture capital fell to its lowest level since 2020 in the second quarter (as shown in the figure), which occurred after the virtual asset crash last year.

In addition, <a href="/price/optimism-op" target="_blank" class="blog_inner_link">Optimism</a>, the Ethereum Layer-2 scalability solution, officially announced that the third round of airdrops will begin at 2:10 (Beijing time) on September 19, 2023, to users who entrusted their OP voting rights during the snapshot period from 8:00 (Beijing time) on January 20 to 8:00 (Beijing time) on July 20, 2023. The total number of airdrops is 19,411,313 OPs, which will be directly distributed to 31,870 unique addresses without interacting with any website to apply for tokens.
## Today’s Main Token Trends
### BTC
![](https://gimg2.gateimg.com/image/article/1695101695BTC 11.53.48.png)
This week's rebound in the market has reached two key levels: $26,975 and $27,283. In the short term, it should maintain stability within the trading range, possibly testing the $26,205 support level. Monthly trading volume still appears insufficient, so it is advisable to remain cautious and observe without taking positions.

### TIP
![](https://gimg2.gateimg.com/image/article/1695101718TIP.png)
 The token opened a short position earlier today, with a total supply of 10 billion TIP tokens, and its initial valuation is only $4 million USD. You can consider positioning at the dip at $0.00028 and monitor the market as social finance receives short-term attention. Initial targets are estimated at $0.00062, $0.00086, and $0.001098.

### KAS 
![](https://gimg2.gateimg.com/image/article/1695101738KAS 11.53.48.png)
The four-hour chart shows a bullish head and shoulders pattern, and the all-time high is at the $0.05179 level. In the short term, there is a chance of retesting the all-time high. Aggressive strategies should be prepared and target levels sequentially: $0.05179, $0.05458, and $0.05735. Conservative strategies should wait for a breakout before entering.
## Macro: Gold price rebounds, and future trends await momentum from the Federal Reserve
US stocks rose slightly, with the Dow Jones Index up 0.02%, the S&P 500 Index up 0.07%, and the Nasdaq Index up 0.01%. For US stocks, not falling is good news, indicating that the US auto workers' strike has not yet triggered market panic. US Treasury Secretary Yellen stated that it is too early to assess the potential impact of a strike on the US automotive industry.

Gold prices have shown a breakthrough trend, reaching $1,930, above the 50-day moving average. The yield of the 10-year treasury bond closed down 1.5 basis points to about 4.32%, close to the intraday low; At one point in the session, it hit a high of 4.3565%, once again testing a slightly higher annual high of 4.36%.

The Federal Reserve is expected to keep interest rates unchanged, but traders will closely monitor two subtle changes in the Federal Reserve's chart.

Firstly, in the previous grid chart released in June this year, only 6 of 18 Federal Reserve officials believed that the Fed had completed rate hikes. It is expected that the number of people who believe that the Fed has completed rate hikes in this grid chart will increase (showing a dovish trend);

Secondly, and most importantly, Federal Reserve officials predict the median point for 2024, which may indicate a decrease in the rate cuts once, reflecting only three rate cuts next year (showing a tightening stance that exceeds expectations).

No matter how the current macro market changes, the expectation of next year's interest rate cut is still there, and it is also destined to be cut next year. When the interest rate is cut, everyone knows what the market will do, so we are not far from the bullish market we are waiting for. Regardless, do not fall in the early stages of the bear market. At the same time, we need to maintain sufficient cash <a href="/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a> and patiently wait for an opportunity.

<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>