Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Trump Buys Burgers With Bitcoin: Former U.S. President Donald Trump made headlines by using Bitcoin to buy hamburgers during a campaign stop at Pubkey, a New York City bar known for accepting BTC.

2. Vitalik Buterin Sings at Token2049: Ethereum co-founder Vitalik Buterin celebrated Ethereum’s Layer-2 (L2) transaction fee reduction at Token2049 in Singapore.

3. 📈Technical Analysis Masterclass - The Fed recently cut interest rates by 0.5% and hinted at more cuts this year. Watch UseTheBitcoin’s latest Youtube video “Fed’s Big Move: Could Bitcoin’s Price Be Set to Skyrocket?” to know the implications for the crypto market or join our Official Telegram Channel for more alpha!

4. Solana New Seeker Device: Solana Labs introduced its new smartphone, the Seeker, at Token2049 in Singapore.

5. 💡Feature of the Day - Betting Against Ethereum: Matt Hougan, Chief Investment Officer of Bitwise, cautioned critics against dismissing Ethereum’s long-term potential.

   
   All this and more in today’s headlines!

📰 News Highlights:

Trump Buys Burgers With Bitcoin [Source][Source][Source]

Former U.S. President and 2024 Republican nominee Donald Trump made headlines again by becoming the first ex-president to use Bitcoin in a public transaction.

On September 18, Trump visited Pubkey, a New York City bar known for accepting Bitcoin, where he used BTC to buy hamburgers for attendees. The event, which was part of his campaign stop, was shared on social media, with Bitcoin advocate Anthony Pompliano also in attendance.

This event comes just days after Trump launched a token through the World Liberty Financial platform, run by members of his family.

Despite his past skepticism, Trump has incorporated cryptocurrency, particularly Bitcoin, into his 2024 campaign, even speaking at the Bitcoin 2024 conference in Nashville.

Vitalik Buterin Sings at Token2049 [Source][Source][Source]

Ethereum co-founder Vitalik Buterin took the stage at Token2049 in Singapore to celebrate one of Ethereum’s biggest milestones: the dramatic reduction in Layer-2 (L2) transaction fees.

He noted that fees on Ethereum L2 networks have dropped to nearly zero, making it much easier for users to conduct transactions on the blockchain.

Buterin reflected on the days when Ethereum transaction fees reached as high as $800, a major deterrent for everyday users.

Now, thanks to developments in L2 networks, the ecosystem is more accessible, with fees often under a penny.

 📈Technical Analysis Masterclass:

Fed’s Big Move: Could Bitcoin’s Price Be Set to Skyrocket?

Why Interest Rates Matter to Crypto

• Lower Borrowing Costs: When interest rates drop, borrowing becomes cheaper, leading to more investment in riskier assets like stocks and cryptocurrencies.

• More Liquidity: Lower rates mean more liquidity in the market, increasing the flow of money into speculative investments like Bitcoin and altcoins.

What This Means for Crypto Prices

• Potential Rally: If traders anticipate further rate cuts, excitement around crypto could grow, driving up prices of Bitcoin and altcoins.

• Historical Trend: Lower interest rates make traditional investments less attractive, prompting investors to seek higher returns in assets like Bitcoin.

Economic Outlook: Is It All Good News?

• Fed’s Confidence: Despite rate cuts, Fed Chair Jerome Powell remains optimistic about the economy, with no signs of a recession. This stability is reassuring for crypto traders.

• Watch for Volatility: While rate cuts are positive for crypto, traders should monitor the Fed’s moves and broader economic conditions for any surprises that could impact market sentiment.

Solana New Seeker Device [Source][Source]

Solana Labs has revealed its latest smartphone, the Seeker, positioning it as more than just a “memecoin phone.”

The new device, unveiled at Token2049 in Singapore, is priced at half the cost of its predecessor, the Saga, which gained notoriety last year due to its association with the popular memecoin BONK.

According to Emmett Hollyer, Solana Labs’ General Manager, the Seeker will serve as a “rewards magnet” for users, offering incentives similar to those provided by Saga, but with an expanded focus beyond memecoins.

The Seeker comes with several hardware upgrades, including a better screen, improved cameras, and a longer-lasting battery.

It also features an enhanced decentralized app (DApp) store, which Hollyer believes will allow developers to quickly launch new applications tailored to emerging crypto trends.

While the Saga received mixed reviews, Solana is aiming to win over users by offering crypto-specific functionality and creating a more attractive mobile experience for DApps.

💡 Feature of the Day: 

Betting Against Ethereum [Source][Source][Source][Source]

Bitwise’s Chief Investment Officer Matt Hougan has cautioned critics of Ethereum, calling it “silly” to dismiss the blockchain’s long-term potential.

In a September 17 post, Hougan acknowledged that Ethereum is currently facing challenges, with its price underperforming compared to Bitcoin and Solana.

However, he pointed out that Ethereum still dominates key areas of the crypto ecosystem, including stablecoins and DeFi.

Despite the negative sentiment surrounding Ethereum, Hougan argued that it remains the most attractive blockchain for developers and large companies.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com