The first week of July introduced bearish pressure, leading to massive losses in the crypto market. Bitcoin (BTC) led the downtrend, as it consistently recorded lower lows amid sustained selling pressure. Notably, the rest of the market experienced similar losses. Consequently, the global crypto market cap lost $140 billion, as it dropped further to $2.11 trillion, its lowest level since late February. While most assets remained down, a few witnessed remarkable recoveries. Here are our top picks for cryptocurrencies to watch this week following their noteworthy performances during the downtrend…
Category: CryptoX News
Justin Sun Developing Gasless Transaction Stablecoin Solution for Tron and EVM Chains
Justin Sun, founder of Tron, a smart contracts-enabled blockchain, has announced that his team is developing a gas-free transaction solution for stablecoins. This means that stablecoin movement fees will be free for the users, with issuers having the opportunity to pay for these. The service is expected to be operational by Q4 and will be […] Source CryptoX Portal
Nigerian Prison Officials Deny Binance Employee Tigran Gambaryan is Seriously Ill
According to the prison authorities, Binance employee Tigran Gambaryan is in good health and not sick as claimed by his family. The family had raised concerns about his well-being and alleged that he was not receiving proper medical attention. However, the prison authorities have denied these claims, stating that Gambaryan is receiving proper care and […] Source CryptoX Portal
Robinhood Moves Forward With Acquisition of Bitstamp
Robinhood Markets Inc. is moving forward with its acquisition of Bitstamp Ltd., a global cryptocurrency exchange. As part of this process, Robinhood Crypto LLC has submitted a change of control application to the New York Department of Financial Services (NYDFS), which announced it received the application on July 3, 2024. This is one of several […] Source CryptoX Portal
UBS Rates Gold as Most Preferred Geopolitical Hedge and Portfolio Diversifier
UBS sees gold as an attractive geopolitical hedge and portfolio diversifier, rating the metal as most preferred in its investment lessons for the second half of the year report. The bank highlights strong market performance driven by AI investment and recommends diversified portfolios across various assets, regions, and sectors to navigate political and economic uncertainties. […] Source CryptoX Portal
North Carolina Governor Vetoes Bill Banning State Use of Central Bank Digital Currencies
The governor of the U.S. state of North Carolina has vetoed House Bill 690, which seeks to ban state payments using central bank digital currencies (CBDCs) and the state’s participation in the Federal Reserve’s CBDC testing. The governor argued the bill was premature and emphasized the need for more funding for cybersecurity. House Bill 690 […] Source CryptoX Portal
UBS Executive Highlights AI’s Impact on Banking
UBS is witnessing a transformative shift in client interactions driven by artificial intelligence, according to Sabine Keller-Busse, the head of the Swiss bank’s domestic business. Keller-Busse compared the change to how patients now approach doctors with self-diagnosed conditions. UBS Sees AI Revolutionizing Financial Interactions Artificial intelligence (AI) is reshaping the banking industry, with clients increasingly […] Source CryptoX Portal
Cardano climbs as cryptocurrency market rebounds
Cardano (ADA), the eighth-largest cryptocurrency by market capitalization, experienced a notable 3.4% price increase in the past 24 hours. Cardano’s price rally occurs amid a broader recovery in the cryptocurrency market. Bitcoin and Ethereum are also seeing slight gains of 2.5% and 2.2%, respectively. Bullish reversal Technical analysis on TradingView indicates that Cardano may be on the verge of a bullish reversal. The cryptocurrency has shown a “change of market character” and broken above the resistance of a wedge pattern, suggesting a potential shift towards a more bullish trend. This…
NFT Sales Rise 8% Higher Amid Broader Crypto Market Downturn
Over the past week, non-fungible token (NFT) sales have increased despite the significant decline in the broader crypto market. Approximately $109 million in NFT sales were recorded, marking an 8.1% rise from the previous week. NFT Transactions Surge 45.57% as Weekly Sales Hit $109M NFT sales rebounded in the past seven days, climbing 8.1% to […] Source CryptoX Portal
Holiday lull doesn’t slow crypto funding as Sentient scores $85m, Lombard raises $16m
The past week saw relatively low crypto funding activity, primarily due to the July Fourth holiday in the U.S. Despite the holiday lull, several notable funding activities showcased the ever-growing interest in the potential of web3 innovations. Sentient, $85 million Sentient, an artificial intelligence (AI) research organization, collected an impressive $85 million in seed funding. Founders Fund, Pantera Capital, and Framework Ventures led the effort, with participation from an extensive list of investors, including Ethereal Ventures, Robot Ventures, and Delphi Ventures. Sentient seeks to foster an open AGI economy for…