Cryptocurrency

Blockchain data tracker Whale Alert states, “A dormant address containing 19 BTC worth $1,185,944 has just been activated after 10.7 years worth $13,259 in 2013.”The Bitcoin wallet was previously worth $13,259 when it last saw activity in 2013. Fast forward to 2024, and the wallet has seen its Bitcoin value increase to a whopping $1,185,944, an 8,844% increase. This demonstrates Bitcoin’s enormous price growth over the last decade.The activation of dormant wallets can have varied explanations: it may indicate that the owner has decided to take advantage of the market, owing to an impressive surge in the wallet value or a long-lost wallet might have just been recovered.Bitcoin’s price formed a base near the $56,000 level and started a fresh increase above the $58,000 resistance. At the time of writing, BTC was up 4.03% in the last 24 hours to $60,990 and up 3.05% weekly.Bitcoin’s immediate resistance level is $61,407, which coincides with the daily SMA 50, ahead of the daily SMA 200 at $62,844. On the other hand, Immediate support lies near the $59,500 level, while the next key support is $58,500.According to Santiment, Bitcoin’s whales, specifically wallets that hold between 100-1000 BTC, have accumulated 94,700 more coins in the last six weeks. As price uncertainty has shaken many traders out of the crypto market, major stakeholders are stocking up.This article was originally published on U.Today More

Bitcoin ETFs saw net inflows of over $61 million, the highest since the $192 million inflow on August 8. BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) led the charge with $92 million in inflows, while Bitwise’s Bitcoin ETF (NYSE:BITB) attracted $25 million in outflows. Ether prices also jumped by as much as 4% as investors looked for possible signals of upcoming rate cuts from the Federal Reserve later this week. With a relatively light economic data calendar, market attention has turned to the release of the Fed’s July meeting minutes on Wednesday and Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday.“Despite FUD in the media – It doesn’t matter whether the ETF elections or any other FOMO theory which will come up; all this is only storytelling to keep the mind busy. The real value is in the long-term position of this unique asset as a hedge and store of value,” Stefan Godly, Venture Studio Co-Founder, told Investing.com.The cryptocurrency market got a boost after a tweet from Tron’s founder, Justin Sun, hinted that China might lift its ban on Bitcoin and other crypto assets.Specifically, China’s Supreme Court and public prosecutor have updated their interpretation of the nation’s Anti-Money Laundering (AML) laws, now officially recognizing “virtual asset” transactions for the first time.The current Anti-Money Laundering Law, which has been in place since January 1, 2007, is getting its first major update in almost 20 years with this latest revision.Meanwhile, State Street (NYSE:STT) has partnered with digital asset custodian Taurus as part of its tokenization strategy, with plans to extend to crypto custody once the U.S. regulatory environment improves. The bank, which manages $44.3 trillion in assets, is set to launch tokenized versions of traditional assets. The global cryptocurrency market cap jumped by 3.17% to around $2.14 trillion in the last 24 hours. Stablecoins, commonly used for trading and hedging, saw their volume hit $60 billion, making up 92.43% of the total crypto market’s 24-hour volume.Polkadot price rose 1.3% on the day. Most meme coins are also on the rise as the broader bullish momentum boosted market favorites like Pepe, Dogwifhat, and Brett. The standout performer is Sundog, the largest meme coin launched via SunPump, Tron’s Pump.fun competitor created by the controversial entrepreneur Justin Sun.  More

Flipster, one of the leading crypto derivatives trading platforms, is listing Tether Gold (XAU₮) issued by TG Commodities Limited to its platform, providing users with new opportunities to deposit, withdraw, and convert the gold-backed digital asset. 1. Tether Gold LaunchpoolFlipster is among the fastest-growing crypto derivatives trading platforms, offering lightning-fast perpetual futures listings on the latest cryptocurrencies. The easy-to-use platform provides users with an all-in-one trading experience with leverage of up to 100x on over 250 tokens with high liquidity and zero trading fees. For media enquiries or interview requests with the team, please reach out to pr@flipster.io. X | Facebook (NASDAQ:META) | Instagram | LinkedIn | Official Telegram | Announcements TelegramAbout Tether and USD₮Tether is a pioneer in stablecoin technology, driven to revolutionize the global financial landscape, its mission is to provide accessible, secure, and efficient financial, communication, and energy infrastructure. Tether enables greater financial inclusion and communication resilience, fosters economic growth, and empowers individuals and businesses.As the creator of the industry’s largest, most transparent, and liquid stablecoin, Tether is dedicated to building sustainable and resilient infrastructure to benefit underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.About Tether Gold (USD₮)Tether Gold (Gold) is a digital asset offered by TG Commodities Limited. One full USD₮ token represents one trou fine ounce of gold on a London Good Delivery bar. XAU₮ is available as an ERC-20 token on the Ethereum blockchain, The token can be traded or moved easily at any time, anywhere in the world, and can be transferred to any on-chain address from the purchaser’s Tether wallet where it is issued after purchase. The allocated gold is identifiable with a unique serial number, purity, and weight and is redeemable in the form of physical gold.Important NoteThis press announcement is not an offer to sell or the solicitation of an offer to buy Tether Gold (XAU₮). TG Commodities Limited will only sell or redeem XAU₮ pursuant to its gold token terms of sale and service available (as of the date of this press release) at gold.tether.to/legal. ContactBrand Marketing ManagerShirlyn TanFlipsterpr@flipster.ioThis article was originally published on Chainwire More

FSL, a leading gaming studio and pioneer in blockchain innovation, is thrilled to announce the launch of MORCHI, an exciting new on-chain mini game on the Polygon Network. Built on the MOOAR Marketplace—an equitable, multichain NFT platform—MORCHI merges entertainment with well-being, allowing users to earn rewards through daily interactions.MORCHI: Where Fun Meets Healthy LivingMORCHI is designed to promote healthy habits in a fun and engaging way. This innovative tapp (Tokens as Apps) introduces users to a world where virtual pets, known as MORCHIs, become part of their daily routines. By interacting with their MORCHI through activities such as Chug Energy Drink, Cold Shower, and Gym Grind, users can not only nurture their virtual pets but also enhance their own daily habits.MORCHI offers a wide range of customization options, allowing users to personalize their virtual pets with Common, Rare, and Legendary design elements. This feature ensures that every MORCHI is unique, reflecting the user’s creativity and style.Minting and SupplyThe initial supply of MORCHI tapps is limited to 10,000, with 5,000 reserved for the MOOAR and public mint and 5,000 allocated to the SLN Cat Community and Thrive Community. Users can mint a MORCHI tapp on https://morchi.mooar.com/, marking the beginning of their journey within this innovative ecosystem. MORCHI tapps are tradeable on the MOOAR Marketplace, allowing users to buy and sell MORCHIs freely, as they are not soulbound.As users engage with their MORCHI and level up, they can generate Activation Codes every 5 levels, inviting friends to mint new MORCHI tapps and expand the community.Earning RewardsMORCHI users are incentivized with daily rewards and milestone achievements, unlocking special rewards at levels 10, 20, and 30. These rewards not only enhance the user experience but also contribute to the growth and vibrancy of the MORCHI community.The MORCHI CommunityUsers can join MORCHI tapp today and embark on a journey that blends fun, health, and blockchain technology.For more information, users can visit their website or follow on MOOAR X.About FSL:FSL is a trailblazer in blockchain development and gaming, renowned for creating innovative applications that seamlessly integrate technology, entertainment, and community. With a portfolio that includes STEPN, MOOAR, Gas Hero, FSL ID, and STEPN GO, FSL continues to redefine the way people interact with blockchain technology, making it accessible, engaging, and rewarding.About MOOAR Marketplace:MOOAR is more than just a marketplace; it’s a gamified cutting-edge rewards system that allows users to earn rewards with every transaction. With a creator-first launchpad and support for multiple blockchains including Solana, Ethereum, Polygon and BASE, MOOAR is rapidly becoming a go-to platform for NFT enthusiasts. The recent surge in trading volume, driven by successful FSL projects like Gas Hero, further underscores MOOAR’s rising prominence in the blockchain ecosystem.ContactMattina HiwaiziFSLmattina@fsl.comThis article was originally published on Chainwire More

The world’s biggest cryptocurrency rose 3.9% to $60,812.0 by 08:48 ET (12:48 GMT). Selling pressure from concerns over token distributions by defunct crypto exchange Mt Gox also appeared to have cleared, while data on Monday showed crypto investment products saw some positive capital flows over the past week.But despite recent gains, Bitcoin still remained close to a trading range seen through most of the year, as the token struggled to make new highs as interest in crypto dwindled.Bitcoin and crypto markets rose in tandem with a broader risk-on move across global markets, which saw Wall Street indexes log strong gains on Monday.Risk sentiment improved amid growing conviction that the Fed will cut rates in September, with traders positioning for a 25 basis point reduction, CME Fedwatch showed.On that front, the focus this week is on an address by Fed Chair Jerome Powell at the Jackson Hole Symposium on Friday. While the Fed chair is unlikely to explicitly outline plans for a rate cut, he is expected to offer more encouraging comments, especially as recent data showed some cooling in U.S. inflation. Lower rates bode well for risk-heavy, speculative assets such as crypto. Looking further ahead, Kristian Haralampiev, Structured Products Lead at Nexo, shared his comments on Bitcoin’s price outlook.He told Investing.com that the premier cryptocurrency is “likely to experience range-bound price action” as we head into the final months of 2024, due to macroeconomic and regulatory conditions.  “While a new all-time high above $73,000 could be possible, this would depend on a series of positively perceived events, such as progress toward the Fed’s 2% inflation target, renewed investor interest, and favorable stablecoin legislation,” Haralampiev told Investing.Meanwhile, a sharp appreciation in the Japanese yen this week presented some risks to crypto, especially after a similar trend decimated crypto prices earlier in August.Relatively lower interest rates in Japan make the yen a popular vehicle for speculative trading, with crypto serving as a major destination for these trades. But this carry trade was largely unwound by a sharp appreciation in the yen earlier in August, following hawkish signals from the Bank of Japan.While the yen had then drifted lower over the past week, it appreciated sharply again on Monday, presenting potential headwinds to risk-driven markets. Broader crypto prices advanced on Tuesday, with world no.2 token Ether rising 2.5% to $2,650.17SOL added 2.2%, rising even as data showed investors heavily sold out of Solana investment products in the past week. Media reports said Mango Markers, which was once the biggest decentralized exchange on the Solana blockchain, was set to settle with the Securities and Exchange Commission over several violations of securities law.Other altcoins also rose, with XRP, ADA and MATIC rising between 4% and 6.5%.Among meme tokens, DOGE jumped 5%.Ambar Warrick contributed to this report.  More

The liquidation heatmap appears to be a basic zone around $60,000, where overwhelming buying and selling weight is focalizing. Once this boundary is overcome, it seems to lead to a price cost surge. This kind of setup frequently comes about in either a solid breakout or a breakdown, with the sentiment among investors moving in response to it.Bitcoin’s price performance was somewhat mixed in the last few weeks. This en masse liquidation at around $60,000 could be a sign of a changing sentiment among investors. However, some technical indicators are still showing mixed dynamics. Trading volume, for example, is rising, suggesting a growth of engagement among bulls and bears. On the other hand, moving averages are slowly converging, which could be a sign of an upcoming volatility surge.One way or another, Bitcoin remains unpredictable at this point in time. It is unclear what is going on among institutional investors in the background, and without seeing flows of capital around the digital gold, it will be quite hard to determine whether or not BTC will be able to regain $70,000 in the foreseeable future. Additionally, expecting a rally simply because of some short orders, liquidation might be a short-sighted approach.This article was originally published on U.Today More

Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce its sponsorship of #BOB2024 (Beppu Bukkake Onsen Fes 2024), a renowned music festival celebrating the vibrant onsen culture of Beppu, Japan. The two-day event is scheduled to take place from August 31 to September 1, featuring 9-hour shows per day, and expecting over 10,000 party goers. Over 20 of Japan’s top artists and pop stars will join and perform at the festival, including Noriko Sakai, Cool-X, Hiroyuki Miyasako, Meru Tajima and so on, promising an unforgettable experience for attendees.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press. For media inquiries, users can contact: media@bybit.comFor more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

PEXX, an innovative fintech startup specialising in stablecoin cross-border payments, is excited to announce the acquisition of Singapore-based blockchain media platform, Chain Debrief for an undisclosed amount, following its successful raise of $4.5 million led by TNB Aura and ANTLER. This strategic move aligns with PEXX’s commitment to expanding its footprint and fostering deeper engagement within the global blockchain community.Additionally, the acquisition of Chain Debrief serves as a vital channel for PEXX to enhance its community, particularly in Southeast Asia. By continuing Chain Debrief’s mission of crypto education, PEXX will provide users with the resources needed to navigate the rapidly evolving world of cryptocurrency. This move also supports PEXX’s broader vision of encouraging crypto investment and adoption across the region.About PEXXPEXX is a pioneering stablecoin cross-border payment platform that simplifies global money transfers. By offering secure, fast, and cost-effective solutions, PEXX enables users and businesses to off-ramp stablecoins like USDT and USDC to fiat in 16 currencies directly into bank accounts. PEXX’s innovative platform bridges the gap between traditional finance and the world of cryptocurrencies, making global money transfers seamless and efficient.Users can stay connected with PEXX: https://linktr.ee/pexxmeContactPEXX MarketingPEXX Technology Pty Ltdmarketing@pexx.comThis article was originally published on Chainwire More