Cryptocurrency

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The move also brings over 750,000 active wallets from the Mythos Chain, along with a user base of over 5 million, to Polkadot. With Mythos joining Polkadot, the ecosystem instantly becomes one of the largest blockchain ecosystems for gaming. Moreover, Mythos’s migration paves the way for other projects, both in gaming and beyond, to capitalize on the benefits of Polkadot.According to DotLake statistics, Mythos was behind 3.3 million transactions last Tuesday, a huge leap from under 500,000 the day before. This surge was mainly due to the transfer of non-fungible tokens (NFTs) from Mythos. However, transactions across Polkadot’s ecosystem dropped to 690,000 a day later, with 190,000 still coming from Mythos.Mythical Games also launched its Mythos ecosystem on Polkadot. This decentralized autonomous organization (DAO) reduces barriers to entry for game developers, allowing them to leverage Polkadot’s technology and community to build their own chains.Mythical Games, known for its party games and flagship game Blankos Block Party, boasts over 3 million monthly digital asset transactions. With 200,000 active wallets engaging in more than 1 million in-game trades using over 1 million native MYTH tokens daily.John Linden, founder and CEO of Mythical Games, said the decision to migrate from Ethereum to Polkadot was influenced by several issues with the Ethereum ecosystem. Even with L2 Rollups, slow transaction speeds could hinder Mythical Games’ expansion plans. Furthermore, establishing a security and governance infrastructure with full interoperability with other Mythos ecosystem partners was crucial.Thanks to Polkadot’s flexible EVM module, the Mythos Chain will keep its EVM address compatibility and let builders take full advantage of the WebAssembly-based Substrate framework. This shift will unlock a wide range of technical possibilities for creating the next wave of mainstream applications on Polkadot. As part of this migration, Mythos will also benefit from Polkadot’s advanced cross-chain features, including native XCM and decentralized bridges like Snowbridge. More

He stated that the potential for MicroStrategy’s stock price growth is basically limitless.He also believes that MicroStrategy’s stock “literally has no top.”As of now, MicroStrategy holds a total of 226,500 Bitcoin tokens, a Bitcoin acquisition that followed the previous one made in the middle of June. In fiat, this is the equivalent of approximately $14,659,329,150 at the present exchange rate. This purchase was disclosed on July 31. The overall amount was bought for $8.3 billion at an average price of $36,821 per coin.MicroStrategy’s (MSTR) share price dropped by 6.5% in a trading session before the company revealed its second-quarter earnings on Thursday. MSTR fell alongside a major decline observed on both stock and cryptocurrency markets. Still, in the past year, MSTR had seen a 3x increase, while the Bitcoin price surged 2x during the same period.Earlier this year, MicroStrategy raised money twice for additional allocation to Bitcoin by offering debt to investors. In March, they raised $500 million, but in the summer they started with the same goal but then increased it to $700 million. According to Chinese cryptocurrency journalist Colin Wu, the company plans to raise around $2 billion again to increase its Bitcoin bet even more.Earlier today, Michael Saylor published a tweet, in which he showed how Bitcoin has helped it to surpass other tech companies by share price greatly.This article was originally published on U.Today More

MicroStrategy CEO Michael Saylor has been a well-known supporter of Bitcoin. The graph displaying MicroStrategy’s performance since Aug. 10, 2020, demonstrates the noteworthy returns his company has achieved by implementing a Bitcoin strategy. MicroStrategy is up 1,206%, which is much higher than major indices and assets like Nvidia (NASDAQ:NVDA) and Tesla (NASDAQ:TSLA) as well as Bitcoin itself, which increased by 442%. Ki Young Ju supports this philosophy by emphasizing Bitcoin’s long-term potential. The current Bitcoin data he observes is similar to the sideways movement that occurs in the middle of 2020, when older whales transfer their holdings to younger whales on-chain. An essential component of Bitcoin’s decentralized structure is the wealth transfer that occurs within its ecosystem, guaranteeing that the asset is distributed among a larger group of holders rather than being concentrated in the hands of a select few. Crucially Ki Young Ju highlights that there has not been a major price increase following the halving, and that ordinary investors have not yet overheated the market. This observation implies that there is still room for the market to rise, and a bull run may be approaching. According to Ki Young Ju, Bitcoin bull runs are frequently brief but intense and abrupt, highlighting the need for investors to exercise patience. The core of the Bitcoin ethos is this idea of perseverance and long-term thinking.Adherents of this strategy develop and mature, and as they do, they pass on their knowledge and convictions, strengthening the community through a cycle of advocacy and education. The belief in Bitcoin’s value proposition being passed down through generations reinforces its status as a hedge against conventional financial systems and a store of value.This article was originally published on U.Today More

Sharpe AI , an AI-powered crypto super-app for traders, has announced the listing of its token $SAI on Gate.io followed by more exchanges starting at 1 pm UTC, 5th August, 2024. The token will be available in the trading pair USDT, setting the stage for a new chapter in AI-powered crypto trading. The anticipation is soaring following the blockbuster success of $SAI’s Initial DEX Offering (IDO) this past April. The IDO shattered all previous records, achieving an astounding 300x oversubscription. With over 120,000 participants bringing in $576 million in assets, it became one of the biggest IDO in history—a true milestone moment for the crypto space.Key Highlights$SAI token holders will enjoy a range of benefits within the Sharpe AI ecosystem:As part of the rollout of staking, the buyback & burn mechanism will split into buybacks that will be allocated towards both burns and staking rewards — allowing stakers to accrue additional platform ownership over time.$SAI Listing DetailsThis advantage drives its rapid growth, establishing Sharpe AI as the largest AI super app currently boasting a live platform with 25+ live products.Aethir, Ionet, Bittensor, Lido, Aevo, Hyperliquid, Arbitrum, Aioz, Paradigm, Orderly Network, Paradex, 0x, Eesee, TradingView, Li.Fi, LogX, AIT Protocol, Ape Terminal, Aave, HyperGPT, Paraswap, Galxe, Arbitrum, Mantle, OpenOcean, and more.About Sharpe AISharpe AI is pioneering the future of crypto interface with its AI-powered superapp. With a focus on intelligence, tracking, and investing in digital assets. Sharpe is now the largest crypto super-app, boasting over 150,000 users and more than $500M in volume. Sharpe AI has a vision of creating a vertically integrated moat by combining data intelligence, trading products and DeFi execution on leading chains, culminating in a comprehensive platform unparalleled in the industry.The platform is rapidly expanding its capabilities, having recently acquired Brownian (specializing in full-stack AI intelligence) and launched HiveIntelligence (building decentralized AI superintelligence network).Key Products: For more information about Sharpe AI and the upcoming $SAI token sale, users can visit Sharpe AI’s official website or join their community on Twitter, Telegram, and Discord.For media inquiries, users can contact: Email: team@sharpe.aiContactCEORishabh NarangSharpe Labsrishabh@sharpe.aiThis article was originally published on Chainwire More

According to Brandt’s analysis, the Bitcoin/gold chart is a prime illustration of charting methods. He states that the ratio is 26 at the moment, meaning that without compromising the long-term bullish case for Bitcoin, it might fall as low as 16 compared to gold. Even though this viewpoint is bullish about Bitcoin’s future, it draws attention to the natural volatility in its price in relation to gold. The possibility of considerable movement in the BTC/gold ratio is one of the main conclusions to be drawn from Brandt’s research. He speculates that although there may be a short-term decline in Bitcoin, the ratio may rise to 150 or higher, according to the longest-term chart. This supports the idea that Bitcoin can be a valuable store of wealth by indicating a significant upside for the cryptocurrency relative to gold. Brandt is an advocate of investing in Bitcoin and gold in a balanced manner. This sentiment emphasizes the value of diversification and avoiding putting all of your eggs in one asset class. Investors can protect themselves from the volatility and inherent risks of both gold and Bitcoin by holding both of them. The dynamic and ever-evolving competition between Bitcoin and gold as stores of value is summarized by Peter Brandt’s analysis.His focus on traditional charting principles, combined with interpretive flexibility, provides a nuanced view of market movements. Even though Brandt is aware that there may be temporary drops, he is still optimistic about Bitcoin’s long-term prospects in comparison to gold.Prudent investment strategies align with his advice to diversify holdings and steer clear of dogmatism, implying that both assets can be essential components of a well-balanced portfolio. There are enormous ramifications for investors everywhere as this historic struggle between traditional and digital stores of value continues to play out.This article was originally published on U.Today More

Thus, Alex Kruger recently shared his thoughts on the challenging market conditions. He suggested that when Bitcoin reaches new all-time highs, only a few traders might still be “alive” and have money. Another well-known figure, BTCVIX, also acknowledged the difficulty of the past few months for traders. However, he pointed out an important technical indicator: Bitcoin is currently experiencing its third tightest weekly Bollinger Bands in history, which suggests that major price movement for Bitcoin is still in the cards.Bollinger also mentioned that a two-bar reversal pattern at the lower band could be a key factor in future price movements, but he warned about some potential supply at the upper border that could affect Bitcoin.In the next two days we are likely to see the development of this outlook as the price of Bitcoin has broken the the simple moving average (SMA) inside the Bollinger Bands. This development cannot be called positive as SMA represents a strong price support level.The breaking of this level indicates that there is no interest from buyers currently, and in the paradigm of the Bollinger Bands, the price of BTC tends toward the lower band, which currently stands at $58,422.This article was originally published on U.Today More

Fears of a mass sale event by the U.S. government, along with uncertainty over how the U.S. presidential race will affect crypto regulation, also kept traders largely averse towards crypto. Bitcoin stood at $64,649.0 by 08:33 ET (12:33 GMT), after sinking as low at $63,697.1 earlier.The world’s biggest cryptocurrency was set to lose over 5% this week, as sentiment towards crypto markets soured amid growing uncertainties in the sector.Bitcoin was dented by reports that the U.S. government had mobilized about $2 billion of confiscated tokens for a potential sale- a scenario that presents downward pressure on Bitcoin’s price.A broader risk-off sentiment also kept traders averse towards crypto markets, as a swathe of weak economic readings from the U.S. and China ramped up concerns over slowing growth, driving traders into safe havens such as gold, the dollar and the Japanese yen. Global stock markets saw a deep rout on Thursday and Friday amid increased risk aversion.Additionally, uncertainty over the U.S. presidential election was also in play after a Bloomberg poll showed Democratic frontrunner Kamala Harris now tied with Republican nominee Donald Trump, diminishing the prospect of a Trump presidency. Crypto markets had last week rallied on comments from Trump that he will foster the industry if reelected.Harris, on the other hand, has made no open statements about crypto. But it is widely assumed that she will continue to Biden administration’s crackdown against the sector on the grounds that it fosters fraud. Following its latest decline, Bitcoin is now hovering near its 50-day moving average, which serves as a key support line for some traders.“If the decline develops, dynamics around the $63K and $61K levels, near where the 50 and 200-day moving averages are, will be important. A failure of this support will open the way to $55K, which is quite frightening,” a market analyst at FxPro reportedly told CoinDesk via email. “August is considered one of the two worst months for BTC. Over the past 13 years, bitcoin has ended the month up only five times and down eight times. The average decline was 15.4% and the average rise was 26%,” they added.The broad sell-off in BTC also impacted some bitcoin exchange-traded funds. While U.S.-listed BTC ETFs saw a total daily net inflow of $50.6 million, funds such as GBTC, FBTC, ARKB, BITB, and HODL experienced outflows. In contrast, Ether ETFs collectively posted a net inflow of $26.75 million, although many showed zero flow.Among broader crypto markets, major altcoins tracked weakness in Bitcoin amid few positive cues. Altcoins were also headed for weekly losses.World no.2 token Ether fell 2% to $3,135.21 and was headed for a 3.5% weekly loss. The token saw little cheer from the launch of spot exchange-traded Ether funds in U.S. markets last week. XRP, ADA and SOL fell between 2.5% and 6.5%, while among meme tokens, DOGE and SHIB fell around 3% each.  More