Here is what you need to know on Wednesday, September 2, 2020. Markets: Bitcoin retested $12,000, suggesting that its bullish potential is not yet fully explored. The price action followed a second dip to $11,100 support in August. Lack of proper volume on the breakout led to a reversal currently confirming support at $11,800. If bulls are not careful, BTC could be going back to the drawing board ($11,100). Read more: Bitcoin Price Prediction: BTC/USD poised for massive breakout supported by institutional capital influx Ethereum has paused the magical rally towards $500. The uptrend to new 2020 highs and levels not seen since mid-2018 began over the weekend when ETH soared above $400 from the support at $370. Ether is valued at $478 after recovery from the intraday low at $465. On the upside, resistance at the yearly ($489) is the only bump in the path to $500. Ripple is trading in the green in a market that is predominantly bearish. The cryptocurrency hit levels above $0.30 but is struggling to contain the price above the same level. Meanwhile, it has retreated to trade at $0.2994, or to be precise, XRP remains pivotal at $0.30. Some selected altcoins are performing well, even the ones that are not DeFi-based like Tron. TRX has been on an upward roll since the week started. Besides, the partnership news with Band Protocol, Justine Sun, the founder has promised the community news that will benefit all its related tokens. Other altcoins that are performing better include Kusama (11.9%), Band Protocol (16.64%), Flexacoin (25.85%), DFI.Money (127.10%) and Curve Dao Token (10.41%). Chart Of The Day: ETH/USD daily chart Market: The decentralized finance craze is still pushing its rocket engines to higher highs. Protocols such as Yearn.finance have set new records in the market in August. For instance, YFI hit new all-time highs, surpassing Bitcoin’s all-time high by far. The token hit highs close to $40,000 before retreating below $30,000. As the DeFi ecosystem sets record highs, the CEO of Binance, Changpeng Zhao (CZ) has warned of a potential “DeFi Bubble.” He thinks that some meteoric growth by some tokens with no utility and real value will negatively impact other participants of the ecosystem. CZ termed his opinion as “unpopular.” On the other hand, the concept of staking as a means of creating liquidity is bound to stay. (Un)popular opinion: I see lots of bubbles in #DeFi now. I believe the core concept of “staking coins to provide liquidity and earning a return” will stay. But these super high yield returns subsidized by new tokens won’t. Super high risk. Be cautious! — CZ Binance (@cz_binance) September 1, 2020 Industry: Cryptocurrency adoption continues to increase across the world. Just recently the US allowed banks to provide custody services for crypto assets such as Bitcoin. This reverberated across the industry, bringing cryptos a little more mainstream. Another report by Cointelegraph says that Wiener Börse, a Vienna based stock exchanged has added Bitcoin and Ethereum to its “official regulated market.” The exchange has listed 21 Shares AG’s BTC and ETH exchange-traded products. The trading of ABTC and AETH i=commenced on September 1. Exciting news today, our #Bitcoin and #Ethereum ETPs — ABTC and AETH are the first crypto-centric ETPs admitted on @wiener_boerse, the Vienna Stock Exchange, one of the most established exchanges in Central, Eastern, and Southeastern Europe! https://t.co/jX3UOnsytA — 21Shares (@21Shares_) September 1, 2020 Regulation: The United States Commodity Futures Trading Commission (CFTC) is reported to have recently charged 20 entities for claiming that they were duly registered under the regulatory body while they were not. The registration of exchanges with CFTC and the National Futures Association allows services related to trading in digital assets to be disbursed to customers in the region. Some of the firms wrote on their website that they were registered. The regulatory body confirmed that none of them had sort registration. The entities include Bitfx24option.com – which claimed to trade and exchange Bitcoin, Fidelityfxtrade.com – crypto forex and investment platform, and Granttradefx.com among others. Today’s actions are the latest examples of the CFTC’s efforts to aggressively root out fraud and bad actors involved in our markets. As these actions show, the CFTC will act decisively to prevent false claims of CFTC or NFA registration. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Crypto News share Read Next Silver: It’s the time to shine again – BNP Paribas FX Street 1 year Here is what you need to know on Wednesday, September 2, 2020. Markets: Bitcoin retested $12,000, suggesting that its bullish potential is not yet fully explored. The price action followed a second dip to $11,100 support in August. Lack of proper volume on the breakout led to a reversal currently confirming support at $11,800. If bulls are not careful, BTC could be going back to the drawing board ($11,100). Read more: Bitcoin Price Prediction: BTC/USD poised for massive breakout supported by institutional capital influx Ethereum has paused the magical rally towards $500. 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