Cryptocurrency

Pawfury announced on X (previously known as Twitter) that it had successfully raised $4.9 million in its presale, marking its entry into the cryptocurrency sector. This event occurs amidst volatility in the broader cryptocurrency market.Achievements and Investor BeliefApproaching the $5 million mark from investors, Pawfury’s is in a significant phase in its development. This steady progress can potentially reflect investor’s belief in Pawfury’s value proposition and its innovative token model, which aims to provide stability and growth potential even in uncertain market conditions.Unique Approach in the Cryptocurrency DomainPawfury’s presale success underscores its distinct strategy within the cryptocurrency field. Unlike many digital assets prone to market volatility, Pawfury focuses on long-term sustainability and investor protection. The project’s tokenomics aim to offer returns through high-yield staking opportunities while prioritizing transparency and security, two increasingly important factors for investors in the dynamic crypto market.CEO’s PerspectiveJonathan Liam, CEO of Pawfury, noted that the project’s progress is notable, especially given the current state of the cryptocurrency market. The securing of $4.9 million in presale funds can demonstrate the community’s trust in the project and its potential to deliver value. As Pawfury nears the $5 million milestone, the focus remains on developing an ecosystem that meets investor needs and sets new standards in the crypto industry.Incentives for Early InvestorsTo attract early investors, Pawfury has introduced a 10% bonus for first-time purchasers using the promo code PAW10X. This initiative is designed to encourage investment during this phase by offering an added incentive. With this bonus and an anticipated listing price of $0.0200, Pawfury presents an investment opportunity for 2024 with potential for returns.Token Mechanisms and Market PositionThe project’s unique token mechanisms contribute to its appeal. Unlike cryptocurrencies that are heavily influenced by market sentiment and external factors, Pawfury’s tokenomics support long-term growth. The vesting process allows investors to potentially earn income, while the overall token structure is built to endure market fluctuations. This approach distinguishes Pawfury from other altcoins and highlights its potential to become a significant player in the digital asset sector.Future MilestonesAs the presale continues, Pawfury plans to announce several milestones to solidify its market position. These include forming partnerships, enhancing staking functionalities, and a public listing. Each development aims to strengthen the Pawfury ecosystem, providing investors with reasons to remain engaged and supportive of the project.With a clear roadmap and vision for the future, Pawfury aims to maintain its growth trajectory, offering a dependable option in the digital asset realm.Additional InformationFor more details on Pawfury and to participate the presale, users can visit their website.About PawfuryPawfury is a cryptocurrency project that combines innovative token strategies, lucrative staking incentives, and a secure environment designed to optimize investor potential returns. Emphasizing transparency, security, and sustained reliability, Pawfury aims to become a significant contender in the evolving cryptocurrency landscape.ContactJonathan LiamPawFurycontact@pawfury.comThis article was originally published on Chainwire More

Investing.com – Investor fear shifted this Monday to the cryptocurrency sector, with major assets like and plummeting by more than double digits.
“Cryptocurrency prices are falling, but indicators suggest we are close to bottoming out,” says Simon Peters, a cryptoasset expert analyst at eToro.
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“Risk assets plummeted during Monday’s session in Asia, as a weaker U.S. employment report and higher unemployment rate on Friday, as well as a rise in the Japanese yen following the recent interest rate hike by the Bank of Japan, caused investors to flee risk assets,” Peters notes.
According to this expert, “continuous fears that the defunct crypto exchange Mt.Gox will reimburse its creditors and that Jump Crypto will liquidate hundreds of millions of dollars in cryptoassets, especially Ethereum, have contributed to the massive sales in crypto markets.”
“However, technical indicators now appear oversold, as well as the crypto fear and greed index, which blinks ‘Fear,’ typically a sign of a price bottom, so it’s possible we could see a bounce from here in the coming days. To know how high the price can rebound, we will have to wait and see,” asserts Peters.
Key Points
“The recent sharp drop in both cryptocurrency and stock prices over the past few days can be attributed to a mix of macroeconomic and crypto-specific factors, although the former seems more influential at the moment,” agrees Javier García de la Torre, Country Manager of Binance Spain and Portugal.
“Speaking specifically about cryptocurrencies, the widespread market decline driven by recession fears has led to capital reallocation away from higher-risk assets, with digital currencies still largely perceived as such. This movement has been exacerbated by the recent dynamics of the U.S. presidential race, which some market participants see as potentially less favorable for cryptocurrencies as an asset class. Lastly, in the cryptocurrency market, the summer months have historically been slower than other months of the year, with systematically lower returns. It’s possible this seasonal dynamic is also playing a role here,” adds García de la Torre.
“Despite these challenges, we do not see this as indicative of a long-term negative trend for the cryptocurrency market. The Federal Reserve is expected to cut interest rates in September, which should improve the outlook for the U.S. economy,” García de la Torre emphasizes.
“Furthermore, as there is still some time until the presidential elections, there remains significant potential for market fluctuations. As the elections approach, it is likely we will witness market impacts in both directions, as candidates clarify their stances on cryptocurrencies,” concludes the Binance expert.
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Bitcoin slid 18% in the past 24 hours to $50,061.0 by 09:04 ET (13:04 GMT). The token was at its weakest level since late February, largely wiping out a rally sparked by the launch of spot Bitcoin exchange-traded funds in March. The world’s biggest cryptocurrency slid tracking steep losses in equity markets since Friday, as a swathe of weak economic readings from the U.S. pushed up concerns over a potential recession. Wall Street indexes tumbled on Friday, while Asian markets logged steep losses on Monday with Japanese stocks entering a bear market just three weeks after marking record highs.Bitcoin- along with broader crypto markets- was hit particularly hard by the risk-off sentiment, given its highly speculative nature. Heightened expectations of interest rate cuts by the Federal Reserve did little to stem Bitcoin’s decline, with traders largely sticking to the Japanese yen and gold as safe havens.The US Dollar Index logged deeper losses against the Japanese yen.The world’s biggest cryptocurrency was already nursing sharp declines over the past week after the U.S. government was seen mobilizing about $2 billion of tokens, heralding a potential sale. Waning trading volumes in the crypto derivatives market- particularly in U.S. ETFs- also provided little support to the token. Uncertainty over the outlook for U.S. regulation also weighed on crypto markets, especially as recent Bloomberg polling data saw Democratic frontrunner Kamala Harris catching up with Republican nominee Donald Trump.Amidst the sell-off, crypto futures saw over $1 billion in liquidations within the last 24 hours, mainly due to a strengthening Japanese yen and rumors that Jump Trading might be shutting down its crypto operations.Data reveals that Ether futures experienced over $340 million in liquidations, while Bitcoin futures led the losses with $420 million. Futures tied to Solana’s SOL, Dogecoin, XRP, and Pepe collectively saw $75 million in liquidations.More than 275,000 traders faced liquidations, with the largest single liquidation order occurring on Huobi, involving a BTC/USD trade worth $27 million. Approximately 87% of the affected traders had long positions, betting on rising prices.The market downturn caused the crypto fear and greed index to signal “fear,” hitting its lowest point since early July. This index monitors volatility, prices, and social media activity to gauge market sentiment, with “fear” often suggesting a local bottom and “greed” indicating market peaks.Broader crypto markets were also battered by the risk-off sentiment. World no.2 token Ether slid over 22% to $2,265.15- its weakest level since December. The token wiped out all gains made on recent speculation over spot Ether ETFs, whose launch last week had also provided little support to markets. XRP, SOL and ADA slumped between 19% and 23%, while among meme tokens, DOGE and SHIB lost around 22% each.  More

Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), ZKsync’s first official Validium ZK Chain, launches its Open Beta Testnet today. After months of anticipation, the 2.5 million waitlisted testers can now experience GRVT’s cutting-edge features.Blending the strengths of both CEXs and DEXs, GRVT empowers users with self-custody of their assets and offers off-chain order matching combined with on-chain settlements at an impressive 600,000 transactions per second (TPS). This unique model ensures that transactions benefit from the speed of off-chain processes, while all asset settlements remain secure and verifiable on the blockchain.To celebrate the Open Beta Testnet launch, GRVT offers exclusive rewards to early participants:For more information and to join the GRVT community, users can visit grvt.io.Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our [Risk Disclosure and Disclaimer] in full.Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.About GRVTGRVT (pronounced “gravity”) is a hybrid derivatives exchange enabling off-chain order matching and on-chain settlements at 600,000 TPS. Founded in 2022 and backed by Matter Labs, GRVT is ZKsync’s first official Validium ZK Chain. Our mission is to democratize the financial market with secure, self-custodial solutions, providing a safe, efficient and simple trading environment for everyone.GRVT official website: https://grvt.io/ For media inquiries, users can contact: press@grvt.io Social and Community: X | LinkedIn | Telegram | DiscordContactReed LiGRVTpress@grvt.ioThis article was originally published on Chainwire More

The market is under tremendous selling pressure as a result of this wave of liquidations, which is escalating the downward trend. Liquidations totaling $356 million and $343 million were recorded for Bitcoin (BTC) and Ethereum (ETH) alone. Warren Buffett has been selling stocks at an unprecedented rate as part of a selling frenzy, which has added to the chaos. Buffett’s actions have caused investors to become extremely alarmed. He has dramatically changed his investment approach and shown a lack of faith in the state of the market, as seen by his $277 billion cash holdings. A notable move that has shocked the market is Buffett’s selling of shares in Apple (NASDAQ:AAPL), one of the most valuable companies in the world.The problems facing the cryptocurrency market are not unique. The leading stock market index, the NASDAQ, is down nearly 6.5%, indicating wider instability on the financial markets. The situation is even worse in Japan. The Nikkei 225 index has dropped more than 10%, putting Japanese stocks on course for their largest fall in more than eight years. It highlights the severity of the unexpected crash that originated in a matter of days, leading to the biggest losses in the industry since the FTX situation.With its price now down into the $50,000-$60,000 range, Bitcoin is holding onto the crucial $50,000 support level, which has already been broken. This breach suggests that the bull run may be coming to an end, which is concerning, due to the lack of returns we saw this cycle. Ethereum is having similar difficulties as a result of institutional investors selling off large amounts of their ETH holdings.This article was originally published on U.Today More

In the ever-evolving world of cryptocurrency, security is the backbone of user confidence and investment safety. Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce its latest upgrade in security measures. This upgrade has been rigorously verified by blockchain auditor CertiK, making Bybit the safest option for trading and exploring Web3 via the Bybit Wallet. This comprehensive security enhancement will address any issues new users may face when using blockchain for the first time. It includes around-the-clock automatic emergency response systems, biometric verification, and additional checks for high-value transactions to prevent unauthorized transactions.One-Click Account Freeze: Users can immediately freeze their accounts if they perceive any risk, enhancing protection against unauthorized access. This feature ensures that users have full control over their account security in any situation.Enhanced Security for High-Value Transactions: Bybit implements additional verification measures for large transactions, ensuring each significant transaction is secure and reliable. This step is crucial in maintaining the integrity of high-value trades and protecting user assets from unauthorized access.AI-Based Security Enhancements: Bybit has integrated advanced AI technology for live face detection and virtual camera identification, ensuring that the person accessing the account is its rightful owner. These measures prevent AI-based face-swapping frauds and effectively identify virtual cameras, reducing fraud risks and enhancing user security.User Security Enhancements: Strengthen Risk Control Methods: At Bybit, user security and experience are paramount. Bybit dedicates extensive efforts to ensure the safety of its users’ assets, including around-the-clock automatic emergency response systems, ensuring rapid response to safeguard accounts.Dive Deeper with Bybit’s AMAWant to learn more about these exciting security updates and how they can benefit you? Join Bybit for a live Ask Me Anything (AMA) session on Tuesday, August 6th. Our security experts will be on hand to answer your questions and discuss Bybit’s commitment to user safety. Don’t miss this opportunity to gain insights and enhance your understanding of Bybit’s latest security features.Users can click here to join the AMA: Link to Bybit’s AMA on Twitter SpacesBybit’s initiative to elevate its security is a testament to its industry leadership and proactive approach to ensure its 37 million users experience the best safety and security. Integrating these security enhancements fortifies user accounts against potential threats and underscores Bybit’s role as a trailblazer in the crypto exchange landscape.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 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

What is certain, however, is the question of what’s next. To answer that question, Peter Brandt, a legendary trader who has been in the market since the 1970s, has issued a new Bitcoin price update. However, the outlook is based on a comparison between BTC and gold.As many may know, cryptocurrencies are now perceived by many as a store of value, even dubbed Gold 2.0. Thus, Brandt reports that at current levels, Bitcoin could fall significantly against gold, by 39%, without undermining its long-term bullish outlook against gold. Meanwhile, the long-term chart shows that the cryptocurrency could rise by more than 477%, highlighting its potential for significant upside. “I believe in owning both gold and Bitcoin,” Brandt himself concludes.This article was originally published on U.Today More

The selloff marks a stunning reversal just days after optimism fueled by Republican presidential candidate Donald Trump’s speech pushed bitcoin, the world’s biggest cryptocurrency, over the $70,000 mark for the first time in more than a month. Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved exchange-traded funds to track the spot prices of bitcoin and ether.More recently, however, the currencies have tumbled alongside other assets including global equities, as investors fear a U.S. recession could be on the horizon, with rising geopolitical worries also weighing. Bitcoin has lost over a third of its value since hitting a record high in March. The increasing correlation with equities has also undermined its reputation as a safe-haven asset. “It’s a big reminder that bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum,” said Tony Sycamore, market analyst at IG.Bitcoin fell 12% to $52,054, heading for its largest one-day fall since November 2022. Ether slid as much as 21% to its lowest since January.Sycamore said bitcoin was testing trend channel support at the $54,000/$53,000 area and needed to hold there to “prevent further capitulation towards $48,000.”Shares in crypto-related U.S. stocks also plunged before the open on Monday. Miners CleanSpark (NASDAQ:CLSK), Bitfarms, Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) slumped between 12% and 18%. Coinbase (NASDAQ:COIN) shares lost 10%, while bitcoin buyer MicroStrategy slipped nearly 15%. More