Cryptocurrency

Blockchain data tracker Whale Alert states, “A dormant address containing 142 BTC currently valued at $8,457,465 has just been activated after 10.8 years (worth $78,150 in 2013).”In 2013, the 142 BTC were worth $78,150, representing an incredible 11,454% growth in value.Dormant addresses are wallets that have not been active for a lengthy period and typically belong to early Bitcoin adopters or miners, hence, their activation often spurs speculation.While the identity of the owner remains unknown, there are speculations on the reasons for this sudden activity.The owner might have decided to cash in on the massive profit. With Bitcoin’s value skyrocketing over the past decade, the temptation to realize gains is understandable. The owner might also choose to move the funds to a more secure wallet, or it might be a long-lost wallet that has just been discovered.According to the most recent adjustments by the Bureau of Labor Statistics, the United States added 818,000 fewer jobs than previously estimated for the period March 2023 to March 2024. That translates to 2.1 million jobs growth over one year, versus 2.9 million in previous figures or average monthly growth of 174,000 versus 242,000.A very high-level interpretation of the data is that a weaker-than-predicted economy impacts Federal Reserve monetary policy, which leads to higher Bitcoin prices.At the time of writing, Bitcoin was still sustaining gains, up 2.86% in the last 24 hours to $60,882, after reaching intraday highs of $61,237 in today’s trading session.This article was originally published on U.Today More

Tanssi Foundation announces the expansion of the Tanssi blockchain infrastructure protocol to Ethereum, enabling the rapid launch of decentralized networks—also known as Actively Validated Services (AVSs)—in minutes. This expansion, driven by a strategic collaboration with Symbiotic, a leading permissionless restaking protocol, will allow developers to deploy highly customizable and decentralized networks, leveraging Ethereum’s robust security.While rollups have been key to scaling Ethereum, they may fall short when strong decentralization, customization, or interoperability are needed. Decentralized networks, or AVSs, build on these strengths by providing a more flexible and versatile approach. Developers gain direct access to Ethereum’s shared security through restaking, backed by over $45 billion worth of ETH. However, networks using restaking security are still a new and complex technology, typically requiring months to launch due to significant infrastructure needs, ongoing management, and resource demands.Tanssi drastically simplifies this process, reducing launch times from months to minutes and streamlining management, making it easier for builders to deploy and maintain their decentralized networks in a customizable environment. This approach not only eases the development process but also accelerates time to market, allowing projects to reach their users faster.By leveraging Symbiotic’s restaking protocol, Tanssi enables networks on Ethereum to easily tap into billions of dollars in shared security from staked ETH. This approach enhances decentralization by providing a permissionless network of shared operators for block production, ensuring fast transaction finality and avoiding reliance on a single sequencer.Tanssi-based AVSs are blockchain systems that leverage Ethereum’s shared security, enabling developers to create highly customized protocols. This includes application-specific blockchains, alternative VMs, bridges, data availability layers, and more, providing developers with the tools to address use cases that traditional rollup architectures may not effectively serve.ContactCEOThiago RudigerTanssi Foundationthiago@tanssi.foundationThis article was originally published on Chainwire More

Risk appetite was also tempered by data showing a sharp downward revision in U.S. labor data, which ramped up concerns over a potential recession. Bitcoin rose 2.1% to $60,862.0 by 09:15 ET (13:15 GMT). The token drifted in a tight trading range for most of this week, and struggled to remain above $60,000. Wallets associated with defunct crypto exchange Mt Gox were seen mobilizing about $700 million of tokens on Wednesday, after moving about $2 billion tokens earlier in the week. The exchange had begun returning tokens to clients from a 2014 hack in early-July, sparking concerns that token distributions could present an increase in Bitcoin supplies, and also increase selling pressure on the cryptocurrency.It remained unclear just how much Bitcoin Mt Gox holds, although Coindesk estimates put the figure at 46,000 tokens, or $28 billion based on the spot price. Expectations for a September rate cut grew after the minutes of the Federal Reserve’s late-July meeting showed policymakers in favor of lower rates. Traders were split over a 25 or 50 basis point cut in September, CME Fedwatch showed. Bets on lower rate cuts were furthered by a sharp downward revision in payrolls data for the year to March 2024, which indicated that the labor market was much weaker than initially expected. The reading spurred renewed fears that a cooling labor market will increase risks of a U.S. recession this year- a scenario that bodes poorly for risk sentiment, even with the prospect of lower interest rates.But lower rates present a positive environment for speculative assets such as crypto.Spot bitcoin exchange-traded funds (ETFs) in the U.S. saw their fifth consecutive day of positive inflows, attracting $39.42 million on Wednesday. In contrast, spot ether ETFs experienced their fifth straight day of net outflows.Grayscale’s mini bitcoin trust led the way with $14.2 million in net inflows, followed by spot bitcoin funds from Fidelity and Bitwise, each bringing in about $10 million, according to SoSoValue data.BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, recorded $8.35 million in inflows. Franklin Templeton’s EZBC fund saw $3.55 million in inflows, while Invesco’s BTCO added $2.46 million.The only net outflows came from Grayscale’s converted GBTC fund, which lost $9.82 million. The remaining six funds, including Ark and 21Shares’ ARKB, reported no flows for the day.Total daily trading volume for the 12 bitcoin ETFs reached $1.42 billion on Wednesday, up from $1.35 billion on Tuesday.Broader crypto prices rose tracking gains in Bitcoin and a broader risk-on environment. But overall gains were still limited.World. No 2 token Ether climbed 1.7% to $2,621.95, while SOL added 1.4%.MATIC surged more than 13%, while ADA and XRP rose 5.4% and 0.4%, respectively.Among meme tokens, DOGE climbed 1.6%. Ambar Warrick contributed to this report.  More

This finding begs significant queries regarding the situation on the Bitcoin market right now and the likelihood of a new ATH occurring soon. According to the available data, new cycle highs were reached relatively quickly following the Bitcoin halving events in the years 2012, 2016 and 2020.For example, after halving, it took just eight weeks for Bitcoin to reach a new high in the 2011-2013 cycle. Similar to this, the halving of the 2015-2017 cycle resulted in a new high 24 weeks later, and the ATH for the 2018-2021 cycle took 25 weeks to reach.Since Bitcoin has not reached a new high in the current 2022-2025 cycle — which is already 23 weeks after the halving — it is becoming more and more likely that this cycle will break previous records for the longest period of time without a new ATH.As it attempts to break out of the broad descending channel, it is currently trading within resistance found around the $62,000 mark. According to the data, Bitcoin’s price has to clear a major obstacle at $73,804 in order to set a new all-time high. It is unclear whether Bitcoin will reach a new high in this cycle, though the market appears to be stagnating and resistance levels are hard to overcome without proper buying support.According to Peter Brandt’s analysis, the behavior of the Bitcoin market right now may be distinct, possibly indicating that a new ATH is unlikely for this cycle. This would be a major divergence from earlier cycles, in which Bitcoin has almost always risen to new heights following a halving event.This article was originally published on U.Today More

Bitunix, the fastest-growing cryptocurrency derivatives exchange, is committed to providing its users with the highest level of security. As part of its dedication to safeguarding user assets, Bitunix has forged strategic partnerships with industry leaders and implemented comprehensive security measures.Bitunix has also teamed up with Nemean Services to boost the protection of user assets. UK-based digital asset security platform Nemean Services operates a backup system of data storage, leveraging the security benefits of the MPC model, in conjunction with its clients and custodians. Nemean is an ISO 27001-certified and SOC 2-compliant platform, specializing in the cold storage, safeguarding, and auditing of private key shares. The partnership between Bitunix and Nemean Services provides an additional $5 million in insurance coverage, offering peace of mind to the users by ensuring that their assets are protected against unforeseen risks.Bitunix recognizes that the crypto space is growing daily in user count, and so too are the threats that come with it. This is why Bitunix remains proactive in exploring new technologies and forming alliances with top security providers. Bitunix’s goal is simple: to continue providing a secure, reliable, and user-friendly platform where the users can trade with absolute confidence.About BitunixBitunix is a global crypto derivatives exchange founded in 2021, registered in Seychelles, offering highly secure, and cost-effective trading services to its users. The platform specializes in both crypto spot and perpetual futures trading, boasting more than 250 crypto trading pairs with up to 125x leverage. Bitunix has attracted over 1,000,000 users from 100+ countries.Website | Twitter | To RegisterContactCOOKX WuBitunixkx.wu@bitunix.ioThis article was originally published on Chainwire More

BC.GAME, one of the largest iGaming platforms by game variety, has introduced Coco Rush, a fresh mini-app game now available on Telegram.This free-to-play casual game offers users the opportunity to earn cryptocurrency rewards by competing in leaderboard battles and completing various tasks within the game. BC.GAME becomes the first major iGaming platform to introduce a Telegram mini-app, entering a market where Telegram’s vast 900 million user base has popularized tap-to-earn games.Gameplay and Player RewardsCoco Rush features an intuitive design, requiring players to tap on digital Cocos to accumulate Coco Coins. Players can also collect Coco Coins by completing daily check-ins, onboarding activities, social media tasks, and through daily free spins. Additionally, players can earn referral points, which can be exchanged to boost their in-game progress.The game also provides opportunities to participate in free spins, where players can win rewards such as USDT and extra Coco Coins. Perhaps most exciting is the forthcoming $BC token airdrop, giving players the chance to convert their in-game coins into real cryptocurrency. During the airdrop event, players have the opportunity to turn their virtual earnings into tradable tokens, adding real-world value to their gameplay.The launch of Coco Rush aligns with the increasing popularity of tap-to-earn games on Telegram, which allow players to potentially earn cryptocurrency via the TON blockchain. Similarly, Coco Rush offers its players the possibility of receiving airdrops of Coco Coins.About BC.GAMEBC.GAME is a leading crypto iGaming platform, known for its community-driven approach and cutting-edge technology. Established in 2017, BC.GAME offers more than 8,000 games, including sports betting, slots, and live table games. The platform is also recognized for its partnerships with top-tier brands such as Leicester City FC, the Argentina National Football Team, and Cloud9.Users can learn more at https://bc.game.ContactPR ManagerOlivia DixionBC.GAMEoliviadi@bcgame.comThis article was originally published on Chainwire More

STEPN GO and CASIO COMPUTER CO., LTD. have teamed up to launch a unique collection of co-branded STEPN GO NFT Sneakers. As part of the “VIRTUAL G-SHOCK” project, Casio will collaborate with the recently launched Web3 social-lifestyle app STEPN GO to offer a limited number of 800 NFT Sneakers. These exclusive NFTs will be available through a Raffle Mint event held from August 26 to August 29 on the gamified NFT marketplace “MOOAR”.This is the first partnership for STEPN GO, which lays the foundation for mass onboarding of Web3 via innovative social features. The first key social element is the ‘Haus System,’ a lending system that lets users share their Sneaker NFTs with friends and family who are new to the app, sharing rewards and simplifying the process of understanding crypto. Another unique feature is the ‘Interactive Map’, which will allow users to see other players’ avatars and communicate with them, even adding them as friends within the platform. The “VIRTUAL G-SHOCK” initiative, which began in September 2023, aims to expand the user base of Casio by introducing G-SHOCK experiences unique to virtual spaces such as NFTs and the Metaverse. “STEPN GO” enhances fitness through a Web3 app where users earn rewards for daily exercise and interactions, including purchasing, lending, and borrowing NFT Sneakers.The limited edition NFT Sneakers feature designs inspired by the G-SQUAD sports line of G-SHOCK, suitable for both sports and virtual environments. Users of the “STEPN GO” app can earn cryptocurrency based on the distance they run or walk, integrating physical activity with virtual rewards.Building on the success of STEPN, the pioneering move-and-earn platform, STEPN GO revolutionizes social fitness in everyday life. Buy, borrow, or lend your Sneakers to earn rewards by staying active. Your rewards can be used to level up, cash out, or flex your online appearance, fostering both physical activity and social connections.About G-SHOCK: Casio’s shock-resistant G-SHOCK watch of Casio is synonymous with toughness, born from the developer Mr. Ibe’s dream of ‘creating a watch that never breaks’. Over 200 handmade samples were created and tested to destruction until finally in 1983 the first, now iconic G-SHOCK hit the streets of Japan and began to establish itself as ‘the toughest watch of all time’. The watch is packed with Casio innovations and technologies to prevent it from suffering direct shock; this includes internal components protected with urethane and suspended timekeeping modules inside the watch structure. Since its launch, G-SHOCK has continued to evolve, continuing to support on Mr. Ibe’s mantra “never, never give up.”About STEPN: The original STEPN app was launched in 2021 and remains the world’s leading ‘move-and-earn’ application, pioneering the genre of gamified Web3 fitness applications. With over 5.6 million registered users and over 1 million Sneaker NFTs owned by players across three blockchains. STEPN has partnered with prolific brands over the years including ASICS, Steve Aoki, and most recently adidas. STEPN was also the first blockchain gaming app to integrate Apple (NASDAQ:AAPL) Pay, creating a seamless onboarding experience for web2 native users. ContactMattina HiwaiziSTEPN GOmattina@fsl.comThis article was originally published on Chainwire More

If this price projection comes to pass, Bitcoin will be between $414,000 and $593,000. Notably, PlanB’s price prediction relies on historical patterns rather than random figures plucked from the air.An analysis of Bitcoin’s 200-week Moving Average shows a consistent price leap pattern of a 4x jump followed by a 7x or 10x leap. Interestingly, the chart reveals that the price has climbed approximately four times from the bottom between 2022 and now.Therefore, based on historical trends, the next leap might push Bitcoin to $414,000, or as high as $593,000 by August 2025.A common denominator is investors’ bullish sentiment toward the world’s largest crypto asset. PlanB’s prediction aligns with previous positive sentiments by other notable analysts, who anticipate a massive run for Bitcoin once it overcomes the current resistance of $70,000.At the time of writing, data shows Bitcoin down by 1.17% and trading at $59,585.60. With sustained interest in spot Bitcoin ETF products, the demand channel for the coin is high. Many believe its growth is only a matter of time now.This article was originally published on U.Today More