Cryptocurrency

According to the report, despite inflows of 1,138 BTC into BlackRock (NYSE:BLK)’s IBIT Bitcoin ETF, 27,753 BTC flowed out of Grayscale Bitcoin Trust, making it look like such a huge outflow. It really was. However, the fact is that almost all of Grayscale’s BTCs have not just flowed somewhere, but into the new Grayscale Bitcoin Mini Trust. As a result, the total net inflow of Bitcoin-related investment products for the day in question was 113 BTC, or $7.48 million.Lookonchain further corrected the error in the post.The Mini Trust is a spinoff from GBTC, created by distributing 10% of GBTC’s underlying Bitcoin. It targets investors seeking BTC exposure with a smaller initial investment compared to GBTC. The trust trades on the NYSE Arca exchange, offering a regulated avenue for investors, although it is not governed by the Investment Company Act, similar to GBTC.This article was originally published on U.Today More

On July 30, Saylor shared another tweet, a more positive one, also mentioning Bitcoin. He cited a CNBC news message, which stated that during the recent Bitcoin 2024 conference, many companies committed to buying Bitcoin and adding it to their balance sheets as a strategic treasury asset.These companies – no particular names were given, though – will be following MicroStrategy’s playbook. This behemoth has been acquiring BTC since August 2020 and is now holding a gargantuan chunk of 226,331 Bitcoin valued at a whopping $7.5 billion.However, in general, he still believes that BTC is a speculative asset.The large plummet was caused by the U.S. government, moving more than $3 billion worth of BTC confiscated from the Silk Road illegal online marketplace founded by Ross Ulbricht in 2012. It closed a year later, with its founder arrested and now serving two consecutive life sentences in prison.This article was originally published on U.Today More

Michael Saylor, a well-known Bitcoin advocate and chairman of MicroStrategy, recently shared his excitement on X about the growing adoption of Bitcoin as a strategic treasury asset.Quoting a remark made by Bitcoin investor Bill Miller in a recent CNBC interview, Saylor tweeted, “We now have additional companies coming out and saying we’re going to put Bitcoin on our balance sheet as a strategic treasury asset.”However, not everyone shares Saylor’s enthusiasm. Schiff, a vocal Bitcoin critic and gold advocate, quickly responded with his usual skepticism. In a pointed tweet, Schiff argued, “Bitcoin is neither strategic nor appropriate as a treasury asset. Companies shouldn’t flat out gamble with shareholder’s funds. They should pay dividends and let shareholders gamble with their own money.”Over the weekend, Schiff was taken aback when 87% of the over 11,000 Bitcoin holders who replied to his X poll claimed they would not sell any of their Bitcoin even if the price fell by more than 99% to $120. They said not only that they would not sell but that they would continue to buy even when prices fell.Schiff unexpectedly revealed that “the main sell point for investors to buy Bitcoin is its great track record of past performance.”At the time of writing, Bitcoin was trading at $66,067, having reached all-time highs of nearly $74,000 in mid-March. This article was originally published on U.Today More

The presale of Memereum has seen significant growth, with nearly 28 million tokens sold. This increase follows the SEC’s approval of the first spot Ethereum ETFs on July 23, which has contributed to enhanced liquidity flows and heightened interest in Memereum.Factors Driving Memereum’s PopularityOne of the key drivers behind the growing interest in Memereum is the recent introduction of a new dashboard by the Memereum team. This dashboard features a ranking system that allows users to invite others to join Memereum and potentially earn rewards in USDT and MEME. Payouts are processed quickly, typically within 48 hours. Additionally, the dashboard enables users to monitor their ranking progress and track increases in referral bonuses in real time.SweepStake Affiliate Bonus ProgramThe SweepStake Affiliate Bonus Program is a key feature of the Memereum ecosystem, designed to incentivize users to promote and expand the community. Participants in this program can earn referral bonuses of up to 25% by advancing through ranks from Goldfish to Whale, with each tier offering progressively greater rewards. Crucially, these bonuses can be received in USDT or MEME, depending on the user’s preference, providing flexibility and personal choice in how rewards are collected. Staking Rewards ProgramMemereum offers an automatic staking system with a potential annual percentage yield (APY) of 183%. This attractive yield is designed to draw participants by providing substantial rewards, positioning Memereum as a compelling option for those exploring new opportunities in the cryptocurrency space. The team has also announced the upcoming release of MemeSwap staking, scheduled for later in August.ConclusionThe Memereum presale continues to gain traction, bolstered by the recent approval of Ethereum ETFs. This momentum is likely to drive further investment and interest in the platform.About Memereum (MEME)Memereum (MEME) is known due to its innovative approach within the blockchain sector and its growing community support. As the first blockchain insurance platform with an integrated decentralized exchange (DEX) for supported token trading, Memereum stands out in the market. For more information about Memereum, users can click here.ContactBessie CooperMemereummarketing@memereum.netThis article was originally published on Chainwire More

Pawfury (PAW) has raised over $4.8 million in its ongoing live presale, marking a substantial milestone in the project’s development.Pawfury stands out with its innovative tokenomics and staking rewards. The platform offers a limited-time 10% bonus on PAW token purchases.The token presale price is set at $0.01210 and will be available for public trading once the presale ends.Key Features:As Pawfury continues to develop and expand its ecosystem, several initiatives and milestones are on the horizon:About PawfuryPawfury is a cryptocurrency project that focuses on innovative tokenomics, staking rewards, and exclusive NFT offerings. The platform is committed to security, having undergone audits and KYC certification. Pawfury leverages advanced blockchain technology to provide secure and transparent transactions, aiming to build a global community of investors, developers, and enthusiasts. The experienced team behind Pawfury is dedicated to continuous development and expansion of the platform’s ecosystem.For further details on Pawfury, users can visit:Website: https://www.pawfury.com/Twitter: https://x.com/Paw_FuryTelegram: https://t.me/PawFuryContactPawfury (PAW) – The Next Big Thing Raised 4.8 Million in Token Sales!Jonathan LPawFurycontact@pawfury.comThis article was originally published on Chainwire More

Ethernity, a pioneer in blockchain entertainment technology, announces the launch of its testnet for Ethernity Chain, a Layer 2 solution purpose-built for Fortune 500 entertainment brands. This launch positions Ethernity Chain as the Entertainment Layer within Optimism’s Superchain ecosystem, joining industry leaders such as Coinbase’s ‘Base’, Worldcoin, Zora and Camp Network. The Superchain is a network of chains that share a common tech stack, Optimism’s OP Stack, and contribute protocol fees back to the Optimism Collective.Ethernity Chain is uniquely designed to address the challenges faced by the global entertainment industry in adopting blockchain technology, packed with consumer-first infrastructure that harnesses all the benefits of web3 abstracting away the complexities. Enhanced by AI-powered Digital Rights Management (DRM), Ethernity Chain ensures robust IP protection, crucial for safeguarding users’ on-chain assets. Ethernity launches its testnet on Optimism’s Superchain – a unified network of chains with shared liquidity, security, communication, governance tapping into a vibrant ecosystem counting over 20 chains, 800+ Apps, and $16B TVL, leveraging Optimism’s OP Stack, deployed and hosted by Gelato RaaS.The launch of the Ethernity testnet follows the success of Ethernity’s initiatives in bringing renowned entertainment icons like Lionel Messi and Shaquille O’Neal onto the blockchain. Ethernity Chain aims to continue this legacy by creating a robust and scalable environment for the next generation of entertainment.For more information about Ethernity and to join the testnet, users can visit www.ethernity.io.About EthernityEthernity is an Ethereum Layer 2 solution designed specifically for global entertainment brands. It features built-in AI-powered security and Digital Rights Management (DRM) to protect intellectual property on-chain. Leveraging its robust infrastructure and partnerships, Ethernity is set to become the premier web3 entertainment ecosystem, providing a secure, eco-friendly, and intuitive platform for the next generation of entertainment and enterprise products.For more information, users can visit Ethernity’s: Official Website | Telegram | TwitterAbout OptimismOptimism is a project dedicated to scaling Ethereum’s technology and expanding its ability to coordinate people from across the world to build effective, decentralized power structures. The Optimism Collective builds best-in-class software for running L2 blockchains and aims to address key governance and economic challenges in the wider crypto ecosystem. The Optimism Collective is also committed to building a sustainable ecosystem through Retroactive Public Goods Funding. By rewarding the impactful projects, Optimism is scaling Ethereum’s present to provide funding for its future.For more information, users can visit Optimism’s: Official Website | TwitterAbout GelatoGelato is an all-in-one Ethereum Rollup as a Service Platform built without limits. Designed to be super-fast, incredibly secure, and infinitely scalable, Gelato rollups allow anyone to build and deploy their fully serviced Layer 2 chains at a pace natively integrated with Web3’s favorite tools and services launching a production-ready web3 development environment from the Genesis block.For more information, users can visit Gelato’s: Official Website | Telegram | TwitterContactCMOJames AitkenEthernity Chainjames@ethernity.ioThis article was originally published on Chainwire More

Bitcoin fell 0.7% in the past 24 hours to $66,352.0 by 09:11 ET (13:11 GMT). Positive comments from Republican presidential candidate Donald Trump saw the token rally as high as $70,000 over the weekend, before the token swiftly reversed course.Appetite for risk-driven assets was also undermined by anticipation of a Federal Reserve interest rate decision, as well as a potential escalation in Middle East tensions after reports said Hamas chief Ismail Haniyeh was killed by an Israeli strike in Tehran.Pressure on the world’s biggest cryptocurrency came chiefly from speculation over potential token sales by the U.S. government, which reportedly holds about $12 billion worth of tokens and is among the biggest Bitcoin holders in the world. Media reports said wallets associated with the government had moved $2 billion worth of Bitcoin seized from online black market Silk Road, onto what could potentially be a custody service. But a token movement of that magnitude usually heralds a sale, as seen with distributions by defunct crypto exchange Mt Gox earlier this month. Distributions by Mt Gox had battered Bitcoin all the way down to $54,000, although the token did recover on the prospect of friendlier crypto regulations. Trump reiterated his support for the crypto industry during an address at the Bitcoin Convention in Nashville over the weekend. A slew of figureheads in the crypto industry were seen either donating to entities associated with Trump’s campaign, or expressing outright support for his presidency. Among broader crypto markets, most altcoins moved in a flat-to-low range, as sentiment towards crypto remained largely quashed. But XRP was an exception, climbing 3.6% amid unfounded rumors that the Securities and Exchange Commission was close to dropping its lawsuit against Ripple, the firm that issues XRP. Broader altcoins moved in a flat-to-low range. World no.2 token Ether fell 1.2% to $3,318.64 an ounce, while SOL and ADA slid 0.2% and 0.4%, respectively.Among meme tokens, DOGE fell 2.2%, while SHIB lost 1.3%.In other developments in the crypto realm, Terra developers temporarily halted network operations on Wednesday following a reentrancy attack that resulted in over $4 million worth of various tokens being stolen from the blockchain.The network was paused at block height 11430400 to implement an emergency patch to fix the vulnerability, which was completed at 04:19 UTC. Validators, who possess over 67% of the voting power on Terra, upgraded their nodes to prevent future exploits, according to a post on X.Security firm Beosin estimated that the attack led to the theft of $3.5 million in USDC stablecoin, $500,000 in Tether stablecoin, 2.7 bitcoin (BTC), and more than 60 million of Astroport’s ASTRO tokens. “The attacker exploited a reentrancy vulnerability in the timeout callback of ibc-hooks. The vulnerability was disclosed in April this year,” Beosin noted.Investing.com Terra Classic Index (LUNC) token fell 2.8% in the past 24 hours, while ASTRO lost 52%.  More

Registrations for Rootstock’s Quarterly Ecosystem Summit are now openOn August 1st 2024, the Rootstock community will be coming together for its first Ecosystem Summit of 2024. This digital event, powered by RootstockLabs, is the first, of a planned quarterly, event where developers and users of Rootstock unite in order to discover the newest protocols, hear the latest news hitting the Rootstock ecosystem.The Quarterly Rootstock Ecosystem Summit brings together core contributors, builders, developers and Bitcoin DeFi enthusiasts from across the Rootstock ecosystem to discuss the latest developments on the network. Major announcements and presentations are expected from Sovryn, Boltz and other special guests during the event. Rootstock is the first, biggest, and longest-running Bitcoin sidechain, with over 13 million transactions, to date, taking place across its network. This summit will be focused on the newest protocols set to launch for the sidechain in the near future. In addition, many of the biggest Bitcoin builders on Rootstock will be sharing their latest developments and news, as well as upcoming announcements for future integrations onto Rootstock. Attendees of the event will be first to know about funding, giveaways and other initiatives being run by contributors to the largest and longest-running Bitcoin sidechain. As well as presentations from Sovryn and Boltz, a number of Bitcoin builders developing protocols on Rootstock will be sharing updates on their projects. Ongun Ozdemir, Venture Associate at RootstockLabs will also be sharing updates on Wave 6 of the Rootstock Grants Program which is now open for entries. This initiative is part of RootstockLabs’ $3.25 million commitment this year to boost the Rootstock ecosystem. The funding will support the Grants Program to attract top protocols, exchanges, and developer tools to Rootstock. About RootstockRootstock is the world’s most secure smart contract platform that is cryptographically connected to the Bitcoin blockchain. Known as a Bitcoin sidechain, Rootstock uses a censorship-resistant two-way peg to allow users to send Bitcoin directly to the Rootstock chain which is then converted into smart Bitcoins (RBTC) on the Rootstock blockchain. These RBTC can be used to deploy or to interact with smart contracts and dApps on the Rootstock blockchain. BTC can be easily moved back to the Bitcoin mainchain at any point using the trustless bridge or through a variety of protocols such as Sovryn FastBTC.Website | X | Developer Portal | Discord | Youtube | Blog ContactAccount DirectorJames DoyleSkyParlourjamesdoyle@skyparlour.comThis article was originally published on Chainwire More