Mantra price has continued to outperform most cryptocurrencies as demand for Real World Asset (RWA) tokenization rose. The OM token rose to a record high of $1.2711 on Thursday as Bitcoin and altcoins remained in a deep bear market. Mantra, a blockchain network for tokenization, rallied after a report noted that Blackrock’s BUIDL fund had crossed $500 million in assets a few months after launch. This performance shows that there is demand for these assets. Similarly, Ondo Finance, which runs the US Dollar Yield (USDY) and US Treasuries (OUSG), has…
Day: July 12, 2024
6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod
As more and more investors choose to keep their Ethereum assets frozen rather than actively selling them, the Ethereum ecosystem suddenly finds itself severely short of supplies. The second-largest cryptocurrency in the world could face serious challenges going forward depending on the planned behavior of market players. Related Reading Ethereum Supply Tightens Up The first sign of this supply gap came earlier this month when an unknown market player moved a staggering 6,400 Ethereum to the Beacon Chain depositor wallet. The Beacon Chain, which checks recently added blocks to the…
Arthur Hayes on Bitcoin’s Political Clout: Can Crypto Voters Influence the 2024 Election?
Arthur Hayes, co-founder of Bitmex, argues that the upcoming U.S. presidential election presents a unique opportunity for crypto advocates to leverage their voting power. With both major political parties vying for a narrow margin of swing voters, Hayes believes the crypto community could play a decisive role in determining the outcome. Arthur Hayes on Crypto’s […] Original
MakerDAO’s $1B Tokenized Treasury Investment Plan Draws Interest from BlackRock’s BUIDL, Ondo, Superstate
“We think this is a very good move from MakerDAO and we are excited to participate with Blackrock’s BUIDL,” Carlos Domingo, CEO of tokenization platform Securitize, BlackRock’s issuance partner, said in an email to CoinDesk. “As the leading tokenized treasury issuer, we will certainly apply.” Source
Bitcoin mining causing health issues in Texas residents
Texas is rapidly becoming a Bitcoin mining hub, butresidents of local towns are experiencing hearing issues, headaches, dizziness, and sleep disturbance. The conflict between the economic interests of Bitcoin (BTC) mining in Texas and the quality of life of its residents is escalating, underscoring the need for comprehensive policy solutions. Texas is home to 10 out of the 34 major Bitcoin mines in the United States. In 2021, when China decided to crack down on Bitcoin mining, numerous mining companies like Marathon Digital and Hut 8 moved to Texas due…
Why Blockbuster Games Will Soon Be Built on Modular Appchains
Implementing Web3 technology into the stack would transform the AAA economic model, opening up the marketplaces to a global audience of gamers and enthusiasts who watch more than play and want to participate in the economy. Game companies will not only be able to monetize in their walled garden, but also every global NFT marketplace. In addition to opening up to a wider marketplace, the scope of purchases would skyrocket. Land, assets, cars, skins, gear, and more would be open to buyers, fans, and enthusiasts across the globe. Source
Is $73,000 The Top For Bitcoin? Analyst Identifies Where BTC Is In This Cycle
In March, Bitcoin hit an all-time high above $73,000, sparking debates amongst market watchers and analysts about whether the cryptocurrency has hit its top this cycle. However, a crypto analyst has provided an in-depth analysis of Bitcoin’s recent price movements and future outlook, suggesting that the pioneer cryptocurrency still has substantial upside momentum ahead. Analyst Says Bitcoin Has Reached Second Early Cycle Top On July 11, a crypto analyst identified as ‘CryptoCon,’ took to X (formerly Twitter) to share insights into Bitcoin’s price movements based on the Relative Strength Index…
Digital Assets Thrive in H1 2024, CME and Glassnode Report Finds
Digital assets showed significant growth in the first half of 2024, driven by increased institutional interest and the approval of spot bitcoin ETFs. According to a report from CME Group and Glassnode, these factors have cemented digital assets as a crucial asset class with unique opportunities and inherent risks. Institutional Interest Drives Digital Asset Growth […] Source CryptoX Portal
Traditional Money Launderers Appear to Be Using Crypto, Chainalysis Says
It’s worth noting that just because a crypto transaction to an exchange is, say, $1 below the $10,000 threshold, it isn’t definitively illicit. But banks and money services businesses in the traditional financial sector have long used heuristics like that to track down criminal activity. Source
SEC drops 3-year investigation into Stacks developer Hiro Systems
Crypto community has another reason to celebrate as the U.S. Securities and Exchange Commission (SEC) has dropped its investigation against Hiro Systems, a developer firm integral to the Bitcoin Layer-2 network Stacks. A SEC filing on July 12 revealed that the regulator had closed its three-year investigation into Hiro Systems (formerly Blockstack) and would not be pursuing an enforcement action. The decision comes just a day after the SEC ended its investigation against stablecoin issuer Paxos. SEC ends 3-year investigation into Hiro Hiro raised $70 million in token sales between…