Cryptocurrency

Trump is widely expected to speak at the upcoming Bitcoin conference in Nashville, which will take place later this month.Dennis Porter, co-founder and CEO of the Satoshi Action Fund, said he got this information from “credible” sources.“Adding #Bitcoin as a ‘strategic reserve’ to the US Treasury is a no brainer and once the USA does it, the paradigm will shift and the world will understand they must also have a #Bitcoin position,” he wrote on X.Yves La Rose, co-founder of ExSat, told Investing.com that designating Bitcoin as a strategic reserve asset in the United States “would mark a pivotal shift in the nation’s financial strategy.”“This move would leverage Bitcoin’s decentralized nature and global acceptance to enhance economic resilience and stability. It would be a watershed moment that would validate Bitcoin’s digital gold narrative.”Trump has already voiced strong support for Bitcoin, highlighting its geopolitical importance. He warned that policies against Bitcoin would benefit adversaries like China and Russia. This statement not only positioned him as a pro-Bitcoin nominee but also sparked discussions about classifying Bitcoin as a strategic reserve asset.“This initiative can potentially boost Bitcoin’s price, attract new investors, and increase its legitimacy. Using seized assets to fund this reserve could help effectively utilize these holdings, reducing the need for additional Bitcoin purchases on the open market,” Iva Wisher Co-founder & COO of Prom, told Investing.com.However, Wisher believes that this pro-crypto stance is part of Trump’s current strategy.“Concrete expectations and the implementation of this initiative will become clearer after the elections, and it’s quite a sensible time to make final conclusions.”Trump’s advisor Vivek Ramaswamy also proposed backing the dollar with a basket of commodities, including Bitcoin. Similarly, Robert F. Kennedy Jr. suggested a portion of US Treasury bills be backed by hard currencies, including the original cryptocurrency.Senator Cynthia Lummis has also supported diversifying the Federal Reserve’s foreign currency holdings with Bitcoin.Other Bitcoin-friendly political leaders have been advocating for merits in Bitcoin as a strategic reserve asset. They argue that as Bitcoin continues to gain value, countries will compete to accumulate it, similar to other scarce commodities like gold, silver, platinum and oil reserves.Bitcoin’s high returns make it an attractive asset for sovereigns to acquire now, they claim.The US currently leads in Bitcoin holdings, having seized massive amounts from illicit actors. According to some estimates, the US government holds more than 200,000 bitcoins.With Trump becoming the first pro-Bitcoin president, the US could move to leverage Bitcoin as a strategic reserve asset.“This basically means that the Trump administration will consider Bitcoin an essential commodity worth holding a lot of. If they follow through, it means the US government will have a lot of it on-hand,” Eric Parker, co-founder and CEO of Giddy, commented to Investing.com.Parker added that the US did “acquire a ton” of Bitcoin “from criminal enforcement over the years.”“Overall, this is good news, but the price impact is uncertain. If people start buying frantically but the US government doesn’t inject cash into it, we could see a slump.“It could really mean they’re serious about crypto regulations and not just using it as campaign rhetoric,” Parker concluded.Trump has reversed his previous anti-crypto stance. In 2019, he criticized Bitcoin and other cryptocurrencies, citing their volatility and potential for unlawful use. However, earlier this year at a Mar-a-Lago dinner, he urged voters to support him if they favor crypto assets.Crypto is now officially on the campaign trail, moving beyond mere mentions to appease certain voting demographics and fundraising PACs. The industry that has long sought legitimacy now finds it in Trump’s attendance at a conference centered on Bitcoin. More

In that poll, those users, who received compensation from Mt. Gox in Bitcoin, revealed what they are going to do with the newly received BTC. The survey shows that the majority of the voters do not plan to sell it.Two hundred sixty Redditors chose the “zero” option, which accounted for 55% of the voters. Eighty-eight Redditors voted for selling all of the BTC they will receive or have received from Mt Gox via centralized and currently operational cryptocurrency exchanges – that was 18% of the voters. Sixty-eight people said they would sell from 1% to 25% of their Bitcoin. Twenty-six Redditors chose the option of selling 25% to 50%.Earlier this week, Mt. Gox transferred close to $6 billion worth of Bitcoin to crypto exchanges, which will then distribute the funds among Mt. Gox creditors and traders. Those people were hit by a massive funds loss as a result of a hack in 2014. The exchange became nonfunctional after that.One of those exchanges, the U.S.-based platform Kraken, announced that it had received part of that Bitcoin and intends to send it to Mt. Gox customers within a week or two.The results of the poll, however, mirror the opinion recently shared by Bitcoin advocate and Jan3 chief executive Samson Mow. He tweeted that he believes only about 20% of that crypto will eventually hit the market. The rest, he believes, will be locked in cold storage vaults.In 2021, the overall Bitcoin inflow into those wallets amounted to 70,000 BTC.This article was originally published on U.Today More

XION’s groundbreaking chain abstraction Web3 technology enables EarnOS to transform digital advertising, driving unprecedented user engagement and brand awareness for global companies.XION, the first blockchain purpose-built for mainstream adoption through chain abstraction, announced the massively successful beta launch of the EarnOS platform which included a prominent ridesharing application, clothing, and accessory brands which together command a market capitalization exceeding $165 Billion. The initial campaign showcased how XION’s chain abstraction technology enabled EarnOS to build a platform that revolutionizes user acquisition, engagement, and rewards in the digital advertising space.The EarnOS launch on the XION blockchain saw remarkable results, with over 200,000 verified users participating and more than 1,300,000 unique brand interactions ranging from social media acquisitions, bespoke advertisement campaigns, immersive augmented reality experiences and more. Participating brands overall achieved a 9000% boost in brand awareness coupled with significant growth on social media platforms.These impressive metrics have prompted the aforementioned ridesharing company to substantially increase its planned spending on the EarnOS platform, which is disrupting the $1 Trillion digital advertising market through novel economic incentivization models. By leveraging XION’s advanced chain abstraction technology, the platform enables brands to acquire, reward, and engage users globally through targeted advertising actions in ways previously not possible.About XIONXION is the first layer one blockchain purpose-built for consumer adoption through crypto abstraction. Utilizing protocol-level implementations related to abstracted accounts, signatures, fees, interoperability, and more, XION enables secure, intuitive, and seamless user experiences. The project has previously raised over $36M from top-tier investors, including Animoca, Circle Ventures, Multicoin, Draper Dragon, Spartan, and more.To learn more about XION, users can follow @burnt_xion on Twitter, subscribe to the XION Blog, or visit xion.burnt.com.ContactM Group Strategic Communicationsburnt@mgroupsc.comThis article was originally published on Chainwire More

PEPE’s comeback comes after a period of volatility and declining value. In the past week alone, PEPE has climbed nearly 50% from $0.0000083 to around $0.0000120 levels, thanks to a significant rise in investor confidence.Currently trading at $0.00001183, PEPE has shown a notable recovery from the low of $0.00000765 plumbed on July 5th. Here are the reasons why there has been a consistent rise in its valuation.The market sentiment surrounding PEPE has turned cautiously positive. Analysts on X are of the view that PEPE will continue to rise in value, supported by broader market conditions and specific events.For instance, the recent political turmoil involving former President Donald Trump has led to a rise in the prices of cryptocoins. To be sure, memecoins related to the former president are witnessing even strong demand as well as benefiting the growth of other memecoins like PEPE.A significant factor behind PEPE’s recent price rally is the substantial increase in whale accumulation. Whales, or large holders of PEPE, have been aggressively expanding their stakes, betting on the coin’s long-term value.According to a report on Binance.com, dated July 16, Nascent, a notable entity in the crypto space, recently swapped its $MKR positions for $PEPE and $LDO. Specifically, Nascent deposited 1,215 $MKR to Binance and withdrew 141.23B $PEPE ($1.57M), 281K $LDO ($503K), and 3.4M $USDT from Binance. Nascent now holds a substantial 608.85B $PEPE, equivalent to $7.49M. This strategic reallocation by a significant player underscores the growing confidence in PEPE’s market position and potential for further appreciation.US SEC’s “preliminary approval” for spot ETH ETFs has led to broader market acceptance of blockchain-based assets, particularly those related to Ethereum. PEPE, which is also an Ethereum-blockchain-based token, is benefiting from the strong market interest in Ethereum-based tokens.The potential increase in liquidity and public exposure due to Ethereum ETFs is expected to continue pushing PEPE’s price upward. As more investors recognize its technological advancements and broader ecosystem support, the meme coin’s value is likely to benefit from these favorable conditions.Despite the positive momentum, on-chain analytics reveal that PEPE’s largest holders have offloaded a substantial amount of their holdings over the past 30 days, as per IntoTheBlock. Addresses holding between $100,000 and $10 million in tokens have seen significant selling. This trend suggests that while small investors are gaining confidence, larger holders are hedging their bets. The dynamic between increasing whale accumulation and large holder sell-offs adds a layer of complexity to PEPE’s market outlook.PEPE’s Relative Strength Index (RSI) at 59.27, while nearing the overbought territory, indicates high buying interest. At this level, it also shows significant buying interest that could sustain the upswing. If market conditions remain favorable, the coin’s upward momentum is likely to continue. More

However, Santiment pointed out, mass Bitcoin liquidations like this make the probability of a continued Bitcoin rebound a lot more likely.Currently, the total Bitcoin holder dump comprises 672,510 fewer than a month ago.However, this time, he also named an approximate time frame when he expects this immense price growth to take place – within a year from now.Overall, the Jan3 boss believes that once Bitcoin succeeds in reaching $100,000, a bull run will begin, and it will take BTC to the $1 million historic peak. He published that post in order to prevent retail investors from thinking that Bitcoin is over and done with.Bitcoin evangelist Michael Saylor, cofounder and executive chairman of the largest corporate Bitcoin holder, MicroStrategy, also published a tweet on Wednesday, which says “Bitcoin to The Moon.”At the time of this writing, Bitcoin is changing hands at $64,894.This article was originally published on U.Today More

Saylor’s statement, delivered in German, has resonated strongly: “Es ist kein Notfall, bis du kein Bitcoin mehr hast,” which translates to, “It is not an emergency until you run out of Bitcoin.”Saylor’s message in German comes as the German government appears to have finished its Bitcoin sales.In a press release dated July 16, the German government formally admitted to selling 49,858 Bitcoin tied to the movie2kcase. It further reported that the sale of almost 50,000 Bitcoins was completed, classifying the move as an “emergency sale.”This background may have prompted Saylor’s message specifically directed to Germans: “It is not an emergency until you run out of Bitcoin.”Bitcoin’s price has been volatile in recent weeks due to speculation about BTC sales, as well as an overhang from continued payouts to creditors of the bankrupt Japanese crypto exchange Mt. Gox.However, the crypto market appears to be catching up as fears caused by German government sales have been allayed.BTC briefly rose above $66,000 in yesterday’s session, reaching highs of $66,139 following five consecutive days of gains. Bitcoin has subsequently dipped, down 0.66% in the last 24 hours to trade at $64,864 at press time.This article was originally published on U.Today More

Bitcoin had rebounded from near four-month lows in the past few sessions, as the prospect of a Donald Trump presidency saw traders pricing in the potential for a much friendlier regulatory environment. Bitcoin was trading up 0.3% in the past 24 hours at $64,769.3 by 08:35 ET (12:35 GMT). Concerns over token distributions by Mt Gox remained in play, especially as wallets associated with the exchange were seen mobilizing $2.8 billion worth of tokens earlier this week.The exchange had recently signaled that it will begin returning tokens stolen in a 2014 hack back to creditors in July. It remained unclear just how much Bitcoin the overall distribution will entail. This sparked concerns that a sharp increase in the supply of Bitcoin will increase selling pressure on the token and drive down its prices, given that receivers of the tokens will be more inclined to sell them after a stellar run-up over the past decade. Fears of Mt Gox had driven sharp declines in Bitcoin through early July, putting the token at near four-month lows and close to levels which could cause some capitulation for miners. But the token rebounded sharply this week amid increased speculation over a second Trump presidency, given that the former president has expressed support for crypto in his recent campaigning efforts.Trump is also set to speak at the Bitcoin Conference in Nashville later in July. The former president was seen getting a massive boost in popularity after a failed assassination attempt last week. Additionally, crypto benefited from recent weakness in the dollar, amid growing expectations that the Federal Reserve will begin cutting interest rates from September. Among broader crypto prices, major altcoins also remained in a tight trading range as a rebound rally cooled.World no.2 token Ether was also flat at $3,461.78, although it still remained relatively buoyant on the prospect of spot exchange-traded funds being approved for U.S. markets.XRP slid 5.3%, reversing course after rumors over a settlement between Ripple and the Securities and Exchange Commission sparked strong gains on Wednesday.ADA and SOL moved in a flat-to-low range, while among meme tokens, SHIB plunged 10% while DOGE shed 2%.In other related developments, crypto exchange WazirX has experienced a wallet exploit, leading to the unauthorized transfer of more than $230 million worth of crypto assets.The exploit targeted the exchange’s multisig wallet on the Ethereum network, potentially due to a private key compromise, draining the funds. To execute the attack, the perpetrator upgraded the Safe Wallet’s implementation to a malicious contract, according to security firm Blocksec.The stolen funds were transferred to an address that has started converting assets like PEPE/USD, GALA, and Tether into ether. On-chain data reveals the hacker stole over $100 million in Shiba Inu, along with 15,290 ETH and 20 million MATIC tokens.WazirX has acknowledged the breach and is investigating the outflows while pausing all withdrawals.”We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused,” WazirX stated.”Looks like there is a private key leakage in WazirX exchange. The leaked private keys are used to upgrade a safe multi-sig wallet, which holds a large number of assets, to a malicious contract. Then the malicious contract is used to drain most of the assets in the Safe Wallet,” Blocksec reportedly told The Block. More

The funding is in place as Zivoe prepares to launch its credit protocol, which uses blockchain to make credit more accessible by connecting on-chain liquidity with real-world borrowers. The launch is set for July 31.Zivoe said it will initially issue on-chain loans to “a strategic, regulated lending partner” to provide consumers with better interest rates.In the long term, the protocol plans to engage directly with consumers, bridging the gap between on-chain finance and traditional financial systems.“We are grateful to reach this significant milestone and blessed to introduce an innovative solution to the traditional lending industry,” said Kristal Gruevski, Founder and General Counsel of Zivoe. “Our ITO will provide DeFi users with unprecedented access to the consumer credit market. This is just the beginning of a new era where blockchain technology and real-world lending converge. We are beyond excited to help millions of underserved individuals around the world while bringing a new RWA to DeFi.”The tokenization of real-world assets is becoming one of the most promising uses of crypto. This process involves bringing tangible assets from the physical world onto the blockchain. For its part, tokenizing securitized loans simplifies the process, cuts administrative costs, and opens up investment opportunities to a broader range of investors. Meanwhile, the launch will coincide with Zivoe’s Initial Tranche Offering (ITO), a liquidity bootstrapping mechanism designed to attract initial Total Value Locked (TVL). Liquidity providers can deposit stablecoins into Zivoe’s senior or junior tranches and receive Tranche Tokens in return. These tokens offer risk-stratified exposure to Zivoe’s loan portfolio, secured by a special purpose vehicle backed by cash flows from consumer loans. Participants can also stake these tokens to earn yields from real-world consumer loans.ITO participants will be eligible to receive the platform’s native governance and utility token, $ZVE, which will later be airdropped as a reward for their participation in Zivoe’s governance framework.The ITO is scheduled to begin on July 31 and will run for 30 days. More