Good Morning Crypto Enthusiasts!

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

1. Fake DeepSeek Token Scam: A Solana-based token falsely linked to the Chinese AI app DeepSeek surged to a $48 million market cap before dropping to $30 million.

2. 📈Technical Analysis Masterclass - Sui has experienced an 18% decline since its peak at $5.35, dropping to $3.50 before recovering to $3.90. Watch UseTheBitcoin’s latest Youtube video “Sui Holding Its Ground at $3.90 (SUI)” to see if this signals a potential bounce back or join our Official Telegram Channel for more alpha!

3. OKX, Crypto.com MiCA Approval: OKX and Crypto.com secured MiCA licenses from Malta’s regulator, allowing them to operate across the EU under a unified framework.

4. 💡Feature of the Day - Brazil Bans Worldcoin: Brazil’s data authority banned Worldcoin from collecting biometric data for crypto rewards, citing concerns about consent and privacy.

   
   All this and more in today’s headlines!

📰 News Highlights:

Fake DeepSeek Token Hype [Source][Source]

A Solana-based token named after the Chinese AI app DeepSeek briefly surged to a $48 million market cap, driven by high trading volume.

Despite attempts by the token's creators to associate it with DeepSeek’s official channels, the company denied any involvement, warning users of potential scams.

The token’s value later dropped to $30 million, with over 22,000 wallets still holding it. Another fake token also rode the hype, reaching a $13 million market cap before falling to $8.6 million.

 📈Technical Analysis Masterclass:

Sui Holding Its Ground at $3.90 (SUI)

Market Momentum Indicators

• MACD:
  Still in the red zone, the MACD indicates ongoing selling pressure, with sellers dominating the market.

• RSI:
  Below the median line, the RSI reflects weak momentum and bearish sentiment.

These indicators highlight a fragile market environment despite temporary support.

Strategic Insights

• Patience Over Impulsivity:
  Traders should wait for clear confirmation signals (e.g., a confirmation candle or strengthening momentum) before entering a position. Acting too early could result in losses.

• Potential Scenarios:

  • If Sui holds the 100-day MA and shows confirmation, price targets include resistance at $4.20 and $4.50.

  • If the 100-day MA fails, Sui may retest $3.50 or fall further.

OKX, Crypto.com MiCA Licenses [Source][Source]

OKX and Crypto.com have secured full MiCA licenses from the Malta Financial Services Authority, enabling them to offer regulated crypto services across the European Union.

The MiCA framework allows for "passporting," which lets licensed firms operate across EU countries under a unified regulatory environment.

OKX plans to provide over-the-counter (OTC), spot, and bot trading services, with region-specific customizations on its platforms.

Crypto.com aims to offer a range of services while ensuring compliance with MiCA regulations.

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💡 Feature of the Day: 

Brazil Bans Worldcoin [Source][Source]

Brazil has banned the iris-scanning crypto project Worldcoin from offering crypto rewards in exchange for biometric data.

The country’s data protection authority, ANPD, ruled that financial incentives could undermine the validity of user consent for collecting sensitive information.

The ban follows an investigation that raised concerns about privacy, data security, and the irreversible nature of biometric data collection.

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😂 Crypto Meme of the Day: 

Meme of the day provided by @theAIsearch

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com