Month: July 2024

THORChain Primed For Big Gains, Analyst Eyes $20 Milestone

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Rising as a major competitor for a big breakthrough is THORChain (RUNE). Rune has showed strength, recovering by around 23% during the previous week following a recent fall to $3.10. At $4.22 right now, the coin is attracting both traders and analysts, with some even seeing a solid upward path. Related Reading Market Statistics And Growing Hope With a market capitalization of $1.41 billion and a 24-hour trading volume of $207 million as of the most recent figures, THORChain represents a 0.06% market domination. Driven partly by the bullish phase…

Crypto for Advisors: Web2 to Web3

While Base targets crypto-curious users, TON’s potential TAM is even bigger, targeting the 900 million users on Telegram. Launched in 2023, Telegram quickly became a top-five Web2 social app by users globally and the dominant app in Russia, Eastern Europe, Southeast Asia and parts of Africa. TON, The Open Network, was initially designed by founding members of the Telegram team to integrate blockchain into Telegram’s ecosystem. Given Telegram’s multi-country user base and unique geopolitical backdrop, a unified crypto payment rail could be highly beneficial. TON’s integration into Telegram includes seamless…

US Bitcoin ETFs Record Ninth Consecutive Day of Gains, Adding $53.35 Million

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U.S. spot bitcoin exchange-traded funds (ETFs) achieved their ninth consecutive day of gains on Wednesday, amassing $53.35 million. Blackrock’s IBIT garnered $110.37 million in inflows, whereas Grayscale’s GBTC experienced $53.86 million in outflows. Blackrock’s IBIT Boosts Reserves to $21B Amid $110.37M Inflows On July 17, the 11 spot bitcoin ETFs recorded $1.79 billion in trade […] Original

ECB Maintains Interest Rates Amid Persistent Inflation Concerns

The European Central Bank (ECB) maintained its interest rates on Thursday, indicating that domestic price pressures and elevated inflation levels will persist into next year. After a recent rate cut, the ECB adopted a cautious stance, suggesting more evidence is needed before making another move. The ECB highlighted that while corporate profits are mitigating some […] Source CryptoX Portal

Germany Dumping $2.8B Bitcoin (BTC) Is ‘Market Intervention,’ Despite Murky Legal Justifications

Hartmannsgruber, who regularly advises politicians and authorities as a board member of the Blockchain Bundesverband e.V. (German Blockchain Association), specifically argued that the sale should not have been done “during the announcement that up to 140,000 Bitcoin worth approximately $7.7 billion from the Mt. Gox lawsuit will come to the market” even though he emphasized that perfect timing is never possible. Hartmannsgruber also asked the authorities to point to sources behind their claim that “less than one percent of the market volume of bitcoins was regularly traded over the counter…

Bitcoin miner Crusoe to build ‘multibillion-dollar’ AI data center in Texas

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Bitcoin miner Crusoe Energy announced a new multibillion-dollar deal with energy tech company Lancium to build a data center for artificial intelligence in Texas. Crusoe Energy, one of the first Bitcoin (BTC) mining companies in the U.S. to use wasted natural gas to power its operations, announced on Thursday morning a “multibillion-dollar” deal with Lancium to build a 200-megawatt data center for artificial intelligence (AI) in Texas. In the press release, Crusoe said the construction is just the “first phase” of its data center development which will expand to enable…

Why Did The German Government Sell Off 50,000 Bitcoin In 2 Weeks

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The German government has sold all of its Bitcoin (BTC) in just two weeks. The reason for the substantial Bitcoin dump was unveiled in a recent statement by the Saxony Central Office for the Protection and Realization of Virtual Currencies. Why Germany Sold All Its Bitcoin In a blog post published on July 16, the Saxon Central Office and Frankfurt Bankhaus Scheich Wertpapierspezialist AG, a German securities trading bank, announced that they had successfully completed the sale of approximately 49,858 BTC. Starting on June 19, 2024, the German government began…

Indian Crypto Exchange Wazirx Suspends Withdrawals Amid $230M Security Breach

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Indian crypto exchange Wazirx has announced a security breach affecting one of its multisig wallets, resulting in the theft of over $230 million. Cryptocurrency and INR withdrawals have been halted as the team investigates the incident, with blockchain investigators Zachxbt and Mudit Gupta offering insights into the sophisticated hack. Wazirx Security Breach Halts Withdrawals After […] Source