Cryptocurrency

Bybit, the world’s second-largest crypto exchange by trading volume, continues to lead the digital asset revolution with CEO Ben Zhou’s influential presence at the Point Zero Forum 2024 in Zurich, Switzerland. This prestigious annual event brings together visionaries in finance, policy, and technology to shape the future of global financial systems.During the session titled “Bridging Finance: How Digital Assets Enhance Financial Services and Vice Versa,” Zhou emphasized the critical role of user experience and familiarity for mainstream crypto adoption. Bybit, he explained, prioritizes building user-friendly interfaces that bridge the gap between traditional finance and the innovative world of crypto.Empowering the Future of FinanceZhou highlighted the transformative potential of crypto for developing economies. In regions where financial systems are still under construction, crypto adoption is skyrocketing, and Bybit is actively collaborating with local players to integrate crypto seamlessly.Pioneering Real-World Asset IntegrationZhou also shed light on the exciting advancements blurring the lines between traditional and digital assets. He pointed to the recent launch of Hong Kong’s Bitcoin ETF, allowing crypto holders to leverage their assets for real-world applications like homeownership without selling their holdings.Bybit is actively involved in projects exploring Real World Asset (RWA) tokenization, unlocking the value of traditional assets for crypto users. This two-way bridge fosters innovation and empowers both sides of the financial landscape.Driving Competitive InnovationZhou underscored the inherent competitive drive pushing traditional players to embrace crypto. The future of finance is undeniably intertwined with Web3 technology, and those who fail to adapt risk losing ground. Bybit actively engages with regulators worldwide, recognizing the diverse approaches and the emerging competition among regulatory bodies.The recent positive signals from Hong Kong, with its licensing regime for crypto businesses, illustrate this shift. The focus, Zhou concluded, should not be on incentivizing adoption, but on embracing technology and fostering a collaborative and secure environment for innovation.Leading the Financial EvolutionBybit stands at the forefront of this transformative era, committed to building bridges between established financial systems and emerging digital assets. This dedication accelerates the creation of a more inclusive and efficient global financial ecosystem, embodying Bybit’s vision of a synergistic financial future.#Bybit / #TheCryptoArk / #BybitWeb3About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 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, please visit Bybit Press. For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

Increased interest in and activity on the Bitcoin market can be inferred from the spike in trading volume. Significant price changes, whether upward or downward, are frequently preceded by higher volumes. The increase in trading volume in this instance indicates that there may be a resurgence of interest and room for price movement for Bitcoin.Institutional investors’ restored confidence may be one of the main causes of this spike in trading volume. Larger market participants have made sizable investments in a number of altcoins over the last few weeks.This capital inflow has probably helped to create a positive atmosphere that has permeated Bitcoin trading as well. Moreover, a possible bullish trend is also supported by the technical indicators for Bitcoin, as of right now. As it moves out of the oversold area, the relative strength index or RSI, is beginning to recover.The market is feeling more optimistic now that it has surpassed $3,000. Ethereum may be showing signs of renewed confidence from buyers if it can break through this psychological barrier. However, this confidence is not unwavering, particularly given the impending 200 EMA resistance.A popular technical indicator, the 200 EMA frequently serves as a strong resistance or support level. At this point, Ethereum’s trajectory could either sharply increase or completely reverse. The current state of Ethereum is influenced by various factors. First, there is a slow but steady improvement in market sentiment overall. Ethereum’s price action has been positively impacted by the recent spike in Bitcoin volume and institutional interest in altcoins.Because of its wide range of applications and vibrant developer community, Ethereum continues to be a valuable asset for institutional investors, who are diversifying their holdings. On-chain metrics also point to a cautiously optimistic mixed picture.It appears that the selling pressure may be abating as the Relative Strength Index (RSI) for Ethereum has left the oversold area. The market is still cautious, even though buyers are entering the market, as seen by the lack of a noticeable increase in trading volume. The larger macroeconomic environment is another important factor to take into account. There has been a discernible rise in the quantity of significant Toncoin transactions, according to recent data. The number of large transactions has increased over the last week, suggesting increased activity among major holders. In particular, there have been nine significant transactions in the last 24 hours, totaling 359,000 TON. Whale activity has increased, which indicates that investors are very optimistic about Toncoin’s future. The overall transaction volume of TON has been exhibiting notable fluctuations in terms of volume. On July 6, 2024, the seven-day high was 962,000 TON, and on July 7, 2024, the low was 52,000 TON. This variation suggests that whales are buying more tokens during price drops, probably in the hope that the price will rise in the future. The underlying whale activity has been mirrored in the movement of the price of Toncoin.Price resilience is demonstrated by its ability to bounce back from recent lows and hold a position above important support levels. Because they show important levels of support and resistance, the 50 EMA and 100 EMA are important indicators to keep an eye on. After recently hitting a low of about $7.09, TON is currently trading at around $7.28.This article was originally published on U.Today More

Flipster, a cryptocurrency derivatives trading platform, is celebrating its 1st anniversary by launching two competitions and giving away 150,000 USDT worth of prizes. Since its launch, the Flipster platform has been fueled by a 1,943% trading volume growth and 3,998% net asset growth. These figures accompany an equally impressive 190% sign-up growth, and a 565% growth in active traders, with users spanning across 177 countries, reflecting strong user retention and platform satisfaction.A fast-growing cryptocurrency trading platform, Flipster has a daily trading volume exceeding $480,000,000, according to CoinMarketCap data as of the date of this release.Source: CoinMarketCapPlatform HighlightsFlipster’s commitment to being the fastest trading platform to offer the world’s first perpetual futures listings on the latest cryptocurrencies, with recent listings including ZRO, ZK, AEVO, BLAST, and ETHFI, appeals to serious traders looking to elevate their crypto game. The Flipster team aims to continually reimagine what exists in the crypto space to unlock unprecedented value for users. Through its Earn Campaign, users can trade while earning a 20% APR* (varies daily) on their USDT wallet balance simultaneously, with no lock-up period and automatic daily reward distribution. Other latest innovations include multi-position trading, launchpool, and position airdrops. User safety and asset security comes first on Flipster. The trading platform adheres to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. Industry standard security measures such as two-factor authentication is compulsory for all user accounts, and the Flipster team performs continuous monitoring of all transactions for suspicious activity. To protect users’ accounts, Flipster continuously updates and improves its security measures in response to emerging threats and technological advancements, and performs ongoing security assessments and compliance checks. Source: https://flipster.io/support/proof-of-reservesAs part of its commitment to transparency, Flipster conducts regular audits of its reserves and has published its Proof of Reserves (PoR) on its website. PoR is a form of verification that ensures all user assets held on Flipster’s platform are fully backed on a 1:1 basis and are securely managed. The safeguarding of their assets is always a top priority for Flipster. By doing this, users can easily authenticate that their assets are fully accounted for, reinforcing the trust and confidence they have in Flipster, and giving them peace of mind.To celebrate this 1st anniversary milestone and appreciate the community’s support, Flipster is excited to announce two competitions, with prize pools of 75,000 USDT each. Users can take part in a trading volume competition or profit and loss (P&L) trading competition from 17 July 2024 at 00:00 UTC to 25 July 2024 at 00:00 UTC. Be among the first 12,000 users to register for each competition from 10 July 2024 at 00:00 UTC to 25 July 2024 at 00:00 UTC for participation eligibility. To claim rewards, users need to contribute a trade volume value of at least 10,000 USDT. The top 200 traders for each competition can get their share of rewards. For more information, click here. Flipster plans to host in-person meet-ups, offline events, social media contests, and more trading competitions. Stay tuned for more information.About FlipsterFlipster is among the fastest-growing crypto derivatives trading platforms, offering lightning-fast perpetual futures listings on the latest cryptocurrencies. The easy-to-use platform provides users with an all-in-one trading experience with leverage of up to 100x on over 250 tokens with high liquidity and zero trading fees. For media enquiries or interview requests with the team, please reach out to pr@flipster.io.ContactMarketing SpecialistShirlyn TanFlipsterpr@flipster.ioThis article was originally published on Chainwire More

Schiff, a longtime critic of Bitcoin, has constantly claimed that it has no intrinsic value and is a speculative asset doomed to fail. In response to a recent tweet, Schiff stated that Bitcoin’s recent price movements might be indicative of an impending crash.”All sarcasm aside, it’s hard to tell if this time the bubble finally has popped. The one thing that’s for sure is that it is, in fact, a bubble. Since all bubbles ultimately pop, it’s inevitable that the Bitcoin bubble will pop too,” Schiff wrote.Schiff’s warning comes at a time when the cryptocurrency market is experiencing volatility. Recent weeks have seen significant price fluctuations, with Bitcoin reaching lows last seen since February.His latest claim about an impending Bitcoin bubble burst adds to his long history of skepticism toward the cryptocurrency. Despite Schiff’s warnings, many in the cryptocurrency community remain bullish on Bitcoin’s future.Digital asset investment products saw positive inflows for the first time in a month, as cryptocurrency prices fell to their lowest levels in months. Bitcoin digital funds led the pack with nearly $400 million in inflows, reversing a three-week period in which products for the world’s largest cryptocurrency lost more than $1.2 billion.At the time of writing, BTC was up 1.79% in the last 24 hours to $57,705. This article was originally published on U.Today More

Setting the stage for a two-day speech on Capitol Hill this week, the central bank chief on Tuesday acknowledged some easing in inflation, which he said officials are determined to get down to their 2% target.”At the same time, in light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face,” Powell stated while, also expressing concerns that holding interest rates too high for too long could hinder economic growth.Markets expect the Fed to start decreasing rates in September, followed by another quarter percentage point decrease by the end of the year. During their June meeting, FOMC members signaled only one cut.Following these remarks, Powell will testify at the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday. Several other Fed officials are slated to speak this week, which may provide additional insights about the Fed’s economic and monetary policy expectations.Cryptocurrencies traded higher as the market viewed Jerome Powell’s economic remarks as balanced, supporting expectations that the Federal Reserve will begin decreasing interest rates this year.As of press time, Bitcoin and several other cryptocurrencies were up. BTC rose 2% in the last 24 hours to $57,200. Several cryptocurrencies in the top 100 had gains ranging from 2% to 13%. Tron (TRX), PEPE and BONK all had gains of over 6%.Fluctuating expectations for cuts in U.S. interest rates had lessened demand for riskier assets in recent weeks, with Bitcoin falling to lows last seen in February.This article was originally published on U.Today More

Phoenix Memecoin ($PHNX) is gaining attention for its unique combination of innovative technology and a strong, community-oriented approach.About Phoenix Memecoin ($PHNX)Phoenix Memecoin ($PHNX) is a new cryptocurrency designed to symbolize rebirth and innovation within the crypto world. Supported by a dedicated and rapidly growing community, Phoenix Memecoin aims to offer stability and long-term growth through its thoughtful tokenomics and strategic planning.Key Features of Phoenix Memecoin ($PHNX)ContactJonathan Griffincontact@phoenixonsol.comThis article was originally published on Chainwire More

Expanding the data, the weighted sentiment for Bitcoin comes in at -0.962775. According to Santiment, this poor sentiment is not entirely a bad thing. This is because an accompanying rebound is just around the corner. The data platform pointed out that should this rebound emerge, it might catch many traders off guard at its peak.The slowdown in Bitcoin chatter is explainable with the current outlook of spot Bitcoin ETF products. While this product has continued to record inflows, occasional outflows always dampen sentiment overall.The price action has also contributed to this poor metric. At the time of writing, data from CoinMarketCap pegs the price of Bitcoin at $57,490.48, up marginally by 0.71% in 24 hours. The coin is seeing a recovery after shedding more than 8% of its value in 24 hours.Analysts and traders have been waiting for this event, potentially accounting for why attention on BTC is down at the moment.This article was originally published on U.Today More

This time, Markus pondered a hypothetical opportunity to make $5 million within one year. He suggested this idea to the crypto community, picking their minds on this potential profit. In his tweet, he asked: “Would you fly on 8 hours of boeing flights a day for a year in exchange for 5 million dollars?”The discussion mostly seemed to be about the quality of flights on Boeing (NYSE:BA) planes and anxiety attacks during flights. Shibetoshi Nakamoto never revealed if he would agree to do that in exchange for $5 million.Markus published a meme of a sinking yacht, called “No worries.” This title answers the meme’s question, which goes: “How is your crypto?”Since Monday, Bitcoin has demonstrated a roller coaster-shaped trajectory, first rising by 6.20% and reaching $58,150. That increase was followed by a 4.8% drop, and by now, it has finished with a 3% increase again. At the time of this writing, Bitcoin is changing hands in the $57,250 zone.The study claims that people who invest in crypto assets tend to have “dark traits” in their personalities. The study refers to the “dark tetrad.” Shibetoshi Nakamoto tweeted that he opposes that opinion strongly: “I disagree and let me lengthily argue why I am right.”This article was originally published on U.Today More