Month: August 2024

California DMV Revolutionizes Vehicle Title Transfers With Avalanche Blockchain Integration

The California Department of Motor Vehicles (DMV) has successfully integrated 42 million car titles onto the Avalanche blockchain network, which uses the cryptocurrency AVAX as its native token. This innovative system, developed by Oxhead Alpha, enables users to transfer vehicle titles within minutes, significantly reducing the traditional two-week processing time. This initiative is part of […] Source CryptoX Portal

Altcoins WIF, BONK, RUNE and JUP drop 10% as Bitcoin recedes 4%

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Altcoins dogwifhat, Bonk, THORChain, and Jupiter have suffered losses above 10% as Bitcoin dipped 4% in the last 24 hours. Following a period of relative calm yesterday, July 31, Bitcoin’s (BTC) price actions experienced a dramatic shift as the cryptocurrency fell by more than $3,500, bringing its value down to $63,300. At the same time, altcoins also mirrored this trend, with the total value of liquidated positions soaring to nearly $225 million over the course of the day. Initially, the week started on a high note for Bitcoin, as it…

Bitwise CIO On Bitcoin: ‘We’re Not Bullish Enough’

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Matt Hougan, Chief Investment Officer (CIO) of Bitwise, claims in a new memo to investors following the 2024 Bitcoin Conference that the market may not be bullish enough about the future of BTC. The conference was a watershed moment that attracted massive political attention and could influence the future trajectory of Bitcoin heavily. Why You Are Not Bullish Enough On Bitcoin The conference featured a number of groundbreaking statements from high-profile political figures. First and foremost, GOP’s presidential candidate Donald Trump’s statement about building a national Bitcoin reserve caused huge…

Bitcoin Core Discloses Two Security Vulnerabilities

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The Bitcoin Core project has disclosed two security vulnerabilities that could have affected the stability of the Bitcoin network. The first one, classified as having a high severity level, could have caused an assertion crash of the network via a message spam attack. The second one, with a low severity level, was linked to Miniupnp, […] Original

Riot Platforms posts 52% decrease in Bitcoin production for Q2

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Bitcoin mining firm Riot Platforms has released its Q2 financial results, showing a decline in mined crypto due to the recent halving. Colorado-based Bitcoin (BTC) mining firm Riot Platforms has unveiled its Q2 financial results, highlighting a significant reduction in mined cryptocurrency attributed to the recent halving event that took place earlier in April. The company reported total revenue of $70 million for the quarter ending July 31, an 8.7% decline compared to the same period in 2023. Riot Platforms attributed the revenue dip mainly to a $9.7 million decrease…

Report Reveals China Continues to Secretly Grow Its Gold Stash, Misleading Market to Cause Price Cool-Off

Jan Nieuwenhuijs, a gold analyst specializing in Chinese markets, alleges that China has continued to secretly buy gold without reporting it to the market, benefiting from a price cool-off. Nieuwenhuijs states that the strategy of the PBOC is to purchase gold through UK bullion banks, which goes unreported by using non-traditional bank conduits. Report Alleges […] Source CryptoX Portal

Bitcoin ETFs hold inflows by string, Ethereum’s outflows start again

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Spot Bitcoin and Ethereum exchange-traded funds in the United States have recorded poor results this week as bears dominate the market sentiment. According to data provided by Farside Investors, spot Bitcoin (BTC) ETFs recorded a net inflow of roughly $300,000 yesterday, July 31. BlackRock’s iShares Bitcoin Trust (IBIT) saw $21 million in inflows, continuing its third consecutive month without any outflows. On July 31, Grayscale also launched its spot Bitcoin Mini Trust, with the BTC ticker, on NYSE Arca. The newly-born ETF registered $18 million in inflows on its debut…

Bitcoin Holds Ground At $65,700 Amid Unchanged Fed Rates, Anticipating September Moves

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In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%.  Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions in September, contingent upon the economic performance in the weeks leading up to that month. “We’ve made no decisions about future meetings and that includes the September meeting,” Powell stated. “We’re getting closer to the…