Month: July 2024

German MP urges government to halt BTC sales in lieu of need for ‘strategic reserve’

German MP and major Bitcoin advocate Joana Cotar has called on the government to halt its rapid sale of Bitcoin. Instead, she advocates adopting Bitcoin as a “strategic reserve currency” to protect against potential risks in the traditional financial system. In a July 4 X post, the crypto-friendly politician said Bitcoin (BTC) could assist Germany in diversifying its treasury assets, acting as a hedge against inflation and currency devaluation while also promoting innovation within the country. Cotar added that a continued sell-off would not be deemed sensible and, in turn,…

Analyst Forecasts $44,000 Plunge On 200 Daily EMA Breakdown

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The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level.  Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the situation. According to the analysis, a daily close below the…

Tangem Partners With Visa to Launch Self-Custodial Crypto Payment Card

Hardware wallet firm Tangem AG is collaborating with Visa to launch a self-custodial payment solution. This collaboration introduces a Visa payment card integrated with a hardware wallet, allowing Tangem users to make payments using their crypto or stablecoin balances at any Visa-accepting merchant across Europe. Unlike traditional custodial solutions, Tangem’s card embeds a private key […] Source CryptoX Portal

LayerZero Bounces Amid Market Retrace, ZRO Soars 20%

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LayerZero (ZRO) has become one of the first altcoins to bounce amid the market retrace. The token has registered green numbers despite its controversial token airdrop last month.  As a result, investors and market watchers remain bullish on ZRO’s long-term performance. Related Reading From ZRO To Market Hero In late June, the omnichain interoperability protocol LayerZero launched its long-awaited ZRO token. The launch, which included a token airdrop for the protocol users, received a negative response from the crypto community. Users found the airdrop’s claim mechanism to be a slap…

More than 10 years since the collapse of Mt. Gox, users confirm reimbursements

Defunct cryptocurrency exchange Mt. Gox has started payments to rehabilitation creditors as part of its rehabilitation plan. More than 10 years after its collapse, Mt Gox creditors are finally getting paid back. According to a July 5 announcement, payments are being made in Bitcoin and Bitcoin cash via centralized crypto exchanges designated to handle the transactions. However, rehabilitation creditors need to satisfy some prerequisites before receiving the payments. These include confirming the validity of their accounts and agreeing to the terms of the agreement from intermediary agencies handling the receipt…

Bitcoin Reclaims $56k But Still Faces Potential Drop to $47K, Analyst Reveals Why

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Bitcoin has recently exhibited resilience that has surprised many market spectators. Following a dismal drop to a 24-hour low of $53,898, Bitcoin clawed its way back above the $56,000 mark, up 1.6% in the past hour. This rebound has been catalyzed by the latest US NFP report revealing a surge in the unemployment rate, which has sparked a surge in buying activity, momentarily easing the bearish pressure. However, this recovery may not signal a sustained upward trend, as experts hint at potential further declines. Related Reading Analyst Bitcoin Predictions: A Potential…

Bitcoin Crashed Below $55,000 But Traders Are Not Fearful, Why?

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As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as their collateral. Fear Is Yet To Grip The Bitcoin Market Even as prices plunge, one on-chain analyst, taking to X, argues that the market is relatively composed and fear and panic haven’t fully gripped it…

Notcoin price action and the lessons for Pi Network

Notcoin price has dropped sharply in the past few weeks, erasing over $1 billion in market value. The NOT token slipped to a low of $0.0091 on Friday, its lowest level since May 29th and by over 64% from its highest point on record.  Notcoin price has lost momentum Notcoin and Pi Network are different assets in the blockchain industry. Notcoin is a Telegram mini-application that lets people earn tokens by just tapping a button. Anyone with Telegram can use the app and earn tokens. Pi Network, on the other…

Colossal Buying Pressure For Bitcoin And Solana As FTX Plans $16B Distribution, Expert

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In a significant development for the cryptocurrency industry, FTX, the exchange that collapsed in November 2022 under the leadership of convicted Sam Bankman-Fried, is preparing to distribute a staggering $16 billion in cash to its customers, which could lead to significant gains for Bitcoin (BTC) and Solana (SOL) prices.  Crypto researcher Xremlin has predicted that a considerable portion of this cash will flow back into the crypto market, serving as a catalyst for growth towards the end of the year.  FTX $16 Billion Cash Injection  In a recent social media…

Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground

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Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […] Original