Cryptocurrency

The popularity of meme coins, especially within the Solana and Ethereum ecosystems, has skyrocketed, fueled by their strong ties to internet culture.According to CoinGecko’s Q2 2024 Crypto Report, meme coins are set to be a major driver of cryptocurrency adoption in the second half of the year. Moreover, Solana meme coins have crushed their Ethereum counterparts, racking up an impressive 800% gain so far this year.”Listing PEPE and BONK is about more than just adding popular tokens. It’s about opening the door wider for those curious about crypto, especially within vibrant communities like Solana and Ethereum. Transak is committed to making this exciting space accessible to everyone, regardless of their experience level,” said Sami Start, CEO and co-founder of Transak.The rising excitement around the Solana ecosystem seems to have boosted the appeal of PEPE and BONK meme coins, prompting their listing on Transak.PEPE jumped into the top 25 largest tokens by market cap earlier this year. The frog-themed token rapidly soared to a $1 billion market cap just weeks after its debut in April 2023.Some traders believe that PEPE could eventually surpass the dog-themed Shiba Inu (SHIB), which currently holds a market capitalization of $8B as of Tuesday.Even though BONK started as just a meme coin, it quickly gained traction in the Solana ecosystem. Various Solana projects began accepting the token for NFT payments, and some even implemented “burn” mechanisms for NFT events in the weeks following its launch.Transak’s payment and onboarding services make it easy for users to buy and sell crypto assets, taking care of KYC requirements, risk monitoring, and compliance for its clients like MetaMask and Coinbase (NASDAQ:COIN) Wallet. The Web3 startup secured $20 million in a Series A round last year to support its global expansion. Transak’s platform allows users to buy meme coins with transactions up to $75,000, provided they complete the Level 3 KYC verification. This feature is said to meet the needs of serious investors and traders in the meme coin market. More

Sentiment towards crypto markets was also undermined by a discussion between Republican presidential candidate Donald Trump and Tesla (NASDAQ:TSLA) CEO Elon Musk on X, where the topic of crypto regulations was not brought up even once. Bitcoin fell 1.6% to $58,910.2 by 08:17 ET (12:17 GMT).The talk between Musk and Trump underwhelmed some market participants who were hoping that the Republican nominee would reiterate his support for crypto.But while Trump has expressed support for the crypto industry- going as far as speaking at the Bitcoin conference last month- he has rarely mentioned crypto or Bitcoin when speaking at more mainstream events.His talk with Musk was no exception to this trend, with bets on cryptocurrency betting platform Polymarkets showing that traders were positioning for some mention of crypto. Bitcoin also briefly fell to $58,000 after the talk. Data from digital assets manager Coinshares showed on Monday that crypto investment products, mostly those exposed to Ether, saw strong inflows over the past week, as a steep rout in prices attracted a slew of bargain buying. Ether products saw over $155 million in inflows, with buying also picking up after the underwhelming launch of spot Ether exchange-traded funds in U.S. markets last month.Bitcoin saw only about $13 million of inflows.Crypto markets were still nursing steep losses from last week, where souring risk appetite batted prices across the board. Bitcoin had fallen as low as $49,000, and was now rangebound between $50,000 and $60,000- a range seen for most of this year. Despite recent recovery, one brokerage firm anticipates further headwinds for Bitcoin in the short term, predicting a drop of $5,000 from the current market rate.”Bitcoin is likely to fall by $5K rather than rise by the same amount,” analysts at FxPro said in an email to CoinDesk. The firm’s bearish outlook is based on Bitcoin’s inability to sustain gains above $60,000 following the death cross, a bearish signal formed by the crossover of the 50- and 200-day simple moving averages (SMA). “Bitcoin does not break above $60K and faces selling after it tried to break above the 50- and 200-day MAs late last week, showing seller dominance,” analysts continued.They also pointed out that the 14-day relative strength index (RSI) no longer indicates oversold conditions, which could pave the way for another decline, aligning with the recent seller dominance at levels above $60,000.The RSI, a momentum oscillator that measures the speed and change of price movements, had shown oversold conditions after last Monday’s crash, which typically suggests a potential pause in the downtrend and a possible price recovery. However, as analysts explained, “The RSI index on the daily timeframe has moved out of oversold territory, losing momentum for further strength.”The likelihood of short-term weakness in Bitcoin’s price may increase further if the U.S. July consumer price index data, set to be released on Wednesday, indicates higher-than-expected inflation, potentially undermining hopes for Federal Reserve rate cuts in the coming months.Broader cryptocurrency traded largely flat on Tuesday, tracking Bitcoin’s rangebound performance. World no.2 token Ether slipped 0.9% to $2,651.18. SOL, XRP and ADA rose between 0.3% and 2.4%.Among meme tokens, DOGE lost 1.4%.Markets were largely cautious ahead of key U.S. consumer price index inflation data, due on Wednesday, which is set to provide more cues on the Federal Reserve’s plans to cut interest rates. More

Bit-Chess, a newly launched crypto project, proudly announces the presale launch of the world’s first fully decentralized chess platform. This groundbreaking platform aims to bring millions of online chess players into the expanding cryptocurrency industry.The Bit-Chess team shared this exciting news on their X account (formerly known as Twitter), highlighting their commitment to revolutionizing how chess enthusiasts engage with the game in the digital age.Bit-Chess Launched Its Presale PhaseBit-Chess, the first fully decentralized online chess platform, has announced on its X account the launch of its official presale phase. This initiative marks a noteworthy step in incorporating millions of online chess players into the revolutionizing crypto industry.The presale is designed for chess lovers and investors who want to get in early on this exciting chess-focused project. Bit-Chess aims to bring the world of chess into the decentralized crypto space, offering a unique blend of strategic gaming and blockchain technology.With a total supply of 210 billion tokens, $BCC is a Solana-based token that will serve as the governance token within the Bit-Chess ecosystem. This means that HODLers of $BCC will have a say in important decisions about the platform’s future. For the presale phase, Bit-Chess offers 23.625 billion $BCC tokens, 11.25% of the total supply.Currently, 1 $BCC is priced at $0.000373, and interested buyers can purchase tokens at this early stage to secure them at a significant discount. The tokens can be bought on the project’s official website using various popular cryptocurrencies, including Solana (SOL), Ethereum (ETH), Binance Coin (BNB), Bitcoin (BTC), and Tether (USDT). This makes participation accessible to a wide range of investors.The presale is an opportunity for those who see the potential of combining this timeless game with the latest blockchain technology. Notable Features of Bit-ChessBit-Chess is set to significantly impact the chess world by integrating traditional gameplay with modern blockchain technology through the Solana network. Here are some key features that distinguish Bit-Chess:Bit-Chess is introducing a new way to play and enjoy chess using blockchain technology. It is the first chess platform built on the Solana blockchain, which uses digital technology to create a more secure and open gaming environment.Bit-Chess aims to blend the traditional game of chess with modern technology. Its goal is to offer a platform where players can not only play chess but also participate in a system that rewards their efforts. Using blockchain, it wants to make chess more interactive and beneficial for players worldwide.Bit-Chess is focused on connecting traditional chess with the new possibilities of blockchain technology. The platform is designed to be accessible and user-friendly, helping players easily guide and take part in this new gaming experience. For the latest updates on Bit-Chess and its token presale, constantly visit their official website and join their vibrant community by following them on X (Twitter), Telegram, and Instagram.ContactChristian Andreas HeinrichBit Chesschris@bit-chess.xyzThis article was originally published on Chainwire More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced the implementation of a comprehensive listing and delisting framework designed to enhance user protection, uphold market integrity, and promote the overall health of the blockchain ecosystem.With Bybit’s spot market share rising above 20% and securing its position as the second-largest exchange, Bybit has become the most preferred listing platform, with 151 new tokens listed in Spot so far in 2024. This preference is driven by the extensive support we offer, from product support—such as Pre-Market, ByStarter, Launchpad, Launchpool, Spot Listing, Perp Listing, and even Options Listing and Earn product integration—to robust marketing and operational support, with over 30 million viewers across 24 livestreams in the first half of 2024.As Bybit continues to mature and establish itself as the most preferred platform, we recognize our growing obligation to both our customers and the industry. Bybit’s philosophy is to list the projects our clients want, ensuring that our platform remains aligned with user needs and market demands. However, the surge in project listings across the crypto industry has raised concerns about transparency, security, and potential market manipulation. Bybit is committed to addressing these challenges through a proactive approach that prioritizes the interests of its users.Here is the key pioneering framework Bybit is committed to:About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 39 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

The revolutionary cryptocurrency project, Pawfury, which launched just weeks ago, is on the verge of concluding its game-changing presale phase, boasting an impressive community of over 8,000 token holders for “PAW.” Currently, the fourth phase of this presale is halfway through, setting the stage for PAW’s debut on both centralized and decentralized trading platforms. This meteoric progress towards completion can stem from the enthusiasm for Pawfury, fueled by the project’s innovative approach and the ahead-of-schedule release of one of its key features.Presale is Live, users can learn more about it herePAW tokenomics are balanced, featuring both a cliff and vesting. For savvy holders, scheduled vesting means maintaining stability through keeping supply and demand in perfect equilibrium.First Stage: Sold-OutSecond Stage: Sold-OutThird Stage: Sold-outFourth stage: Currently offering tokens at an exclusive price of $0.01223 eachUsers Can Click Here To Buy PAW TokensUsers can visit the links below for more information about Pawfury (PAW):Website: https://www.pawfury.com/Twitter : https://x.com/Paw_FuryContactJonathan LiamPawFurycontact@pawfury.comThis article was originally published on Chainwire More

The value of $150 appears to be the next important level to keep an eye on given the current technical configuration. The bounce is accompanied by a discernible downward volume trend, indicating the possible easing of selling pressure and opening the door for a longer-term upward move. Still, the chart’s EMA convergence is remarkable. A phase of elevated volatility is frequently preceded by the close convergence of moving averages, particularly shorter-term ones. This convergence suggests that there may be a breakout in either direction, while the market is still in a phase of consolidation. In the long run, the $150 threshold is critical.It is a psychological barrier as well as a strong correlation with recent price peaks where bulls encountered resistance. If Solana is able to break through and hold above this level, it may indicate the beginning of a new bullish phase and increase interest from buyers. If prices decline, the 200-day EMA will remain a crucial level of support. A decline below this moving average might trigger a retest of lower levels, possibly shaking out weaker hands should Solana fail to sustain its current momentum.This pattern is frequently interpreted as a bearish indication that there may be more downside pressure on the asset. The price action of Ethereum has been erratic, with momentum waning over the last few weeks, according to the official chart. The 50-day EMA could confirm the death cross and indicate a prolonged bearish trend for ETH if it drops below the 200-day EMA.The EMAs are gradually converging. What is especially worrying about Ethereum is its lack of momentum. ETH has had difficulty keeping up its upward trajectory following a robust rally earlier in the year, and recent price movements have reflected market weakness and uncertainty. It is possible that the bulls do not have enough strength to drive the price higher because the trading volume has also been relatively low. The death cross could drastically weaken ETH’s value and force it to retest lower support levels should it materialize.Investors and traders may begin to turn away from Ethereum in favor of more secure or promising investments. The death cross is a bearish signal, but it is important to remember that it does not always portend more losses. Ethereum’s next move will also depend on external factors, general sentiment and market conditions.Bitcoin has been trading in a narrow range for the last few months with little movement in either direction. But traders need to be aware that this sideways movement has created two critical price levels. The value of $68,000, which represents the upper bound of the current consolidation range, is the first important level to keep an eye on. A break above this barrier would suggest a possible breakout and could usher in a new bullish stage for Bitcoin. This level has been tested multiple times, making it a crucial resistance point that may determine Bitcoin’s future course. On the other hand, the lower bound of the range is $52,900. In order to keep BTC from falling into a more obvious downtrend, this level has served as solid support. A deeper correction of Bitcoin could be triggered if it is unable to hold above this support, which could increase market pessimism. The fact that Bitcoin is currently trading closer to the middle of this range indicates that the market is still unsure of where to go. A breach in either direction could determine the course of Bitcoin’s price movement in the upcoming weeks, so traders should keep a close eye on these two levels.This article was originally published on U.Today More

ZAN, the web3 technology brand of Ant Digital Technologies, plans to run a Sui RPC (NYSE:RES) node with Mysten LabsMysten Labs, a web3 infrastructure company and the original contributor to the Sui blockchain, today announced a partnership with ZAN, the technology brand of Ant Digital Technologies.With the integration of Sui, ZAN aims to accelerate the development and adoption of its web3 applications. The collaboration will focus on Mysten Labs lending technological support in two key areas: KYC infrastructure and RPC node services. ZAN will provide KYC services for projects building on Sui, contributing essential compliance solutions for the blockchain. ZAN will also officially launch RPC node services for Sui, enhancing the blockchain’s scalability and accessibility for developers and users in the APAC region.“We are excited to build a partnership with Mysten Labs. Sui is a star public chain dedicated to technology and value creation, with a rich ecosystem and diverse applications. Similarly, ZAN stems from a technology-driven team, and we are committed to building the next-generation technological infrastructure for the Web3 industry. We look forward to more technical exchanges between each other, jointly promoting innovation and development in the entire industry,” said Cobe Zhang, Chief Operating Officer of ZAN.Together, Mysten Labs and ZAN will explore building opportunities in areas such as payments, data, digital identity, and more, with the goal of delivering innovative solutions that benefit consumers, businesses, and the local community, with an eye to discovering and supporting web3 super app opportunities. Both organizations are committed to fostering a collaborative environment and look forward to sharing updates on the partnership’s milestones as they are achieved.“We are thrilled to be working alongside the ZAN team and the broader Ant Digital Technologies, to bring an e-KYC solution to the broader digital asset ecosystem to market,” said Adeniyi Abiodun, Chief Product Officer and Co-Founder of Mysten Labs. “This collaboration marks a significant milestone for Sui and the broader web3 ecosystem in Hong Kong and the broader APAC region. By combining our strengths, we can accelerate the development of innovative applications that will benefit millions of users.”About SuiSui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences.Learn more: https://sui.ioAbout Mysten LabsMysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives and lead architects of pioneering blockchain projects. The mission of Mysten Labs is to create foundational infrastructure for web3.Learn more: https://mystenlabs.comAbout ZANAs a technology brand of Ant Digital Technologies for Web3 products and services, and powered by AntChain Open Labs’ TrustBase open-source technical stack, ZAN provides rich and reliable services for business innovations and a development platform for Web3 endeavors. The ZAN product family includes ZAN eKYC, ZAN KYT, ZAN Smart Contract Review, ZAN Node Service, with more products being on the way.Learn more:https://zan.top/About Ant Digital TechnologiesAnt Digital Technologies is Ant Group’s digital technology subsidiary. Ant Digital Technologies continues to promote the development and application of digital technologies, introducing leading products like ZOLOZ, mPaaS and ZAN based on its expertise in AI, privacy computing, and security technology. Ant Digital Technologies is committed to working with partners across different industries to support small and medium-sized financial institutions in their digital transformation, enable SMEs in the service industry to operate digitally, and facilitate digital collaboration across industries. Revenue from Ant Digital Technologies’ international business operation increased by 300% in 2023.ContactLexi WanglerMysten Labslexi.wangler@mystenlabs.comThis article was originally published on Chainwire More

Saylor did not go into much detail in his post on Bitcoin’s future price movement. However, crypto enthusiasts have interpreted his statement in different ways. While some described Bitcoin as the key to generational wealth, others say it is the key no one should dream of missing. Bitcoin has demonstrated impressive performance in the past week, increasing by 9.75% to $58,118. On the daily time frame, BTC declined by 3.8%. Notwithstanding, the trading volume spiked 86% to $31 billion. As investors remain bullish, Bitcoin’s recovery to $60,000 could happen sooner than expected. The coin has climbed above $60,000 in the past; therefore, achieving this level should not be too difficult. Moreover, new funds have reportedly flowed into the spot Bitcoin market, with BlackRock’s IBTC amassing $525.5 million in a single day. Increased momentum in the spot Bitcoin ecosystem could fuel further increases in Bitcoin’s price.Meanwhile, MicroStrategy’s bold move to acquire Bitcoin four years ago, championed by Michael Saylor, seems to be paying off. The company, whose shares collapsed in early 2000, has outperformed 499 out of 500 stocks in the S&P 500.This article was originally published on U.Today More