Bitcoin and cryptocurrency -related stocks were lower Friday morning as the price of Bitcoin slumped over 10% since July 3rd, hitting a low $53,600 before rebounding slightly. Microstrategy, Inc. (NASDAQ:)Coinbase (NASDAQ:)Marathon Digital Holdings (NASDAQ:)Riot Platforms (NASDAQ:)Cipher Mining (NASDAQ:)Iris Energy (IREN)Hut 8 Mining Corp (HUT)Bitfarms (BITF)Core Scientific (CORZ) More
Moreover, German police were seen moving about $75 million of crypto confiscated from a piracy website onto exchanges, potentially heralding a mass sale event as seen earlier this year and adding to the negative sentiment.Bitcoin slid 4.9% in the past 24 hours to $54,931.7 – its weakest level since February. The token was also down almost 11% in the past seven days.The sharp drop in Bitcoin price comes as investors turned their attention to the payout of nearly $9 billion to users of the defunct bitcoin exchange Mt. Gox.Nobuaki Kobayashi, the trustee overseeing the Mt. Gox bankruptcy estate, announced that repayments in bitcoin and bitcoin cash had begun to some creditors through several designated crypto exchanges. However, he did not specify the exact amount of money transferred to these exchanges.Kobayashi explained that the remaining funds would be distributed to creditors once certain conditions are met, including the validation of registered accounts and the completion of discussions between the trustee and the designated crypto exchanges.He stressed that efforts are ongoing to ensure repayments are made “safely and securely,” and urged “eligible rehabilitation creditors to wait for a while.”The announcement follows the movement of a small amount of bitcoin from wallets linked to Mt. Gox, as reported by blockchain analytics firm Arkham Intelligence. The largest movement recorded was a $24 transfer to the Japanese crypto exchange Bitbank, which is among the platforms supporting the repayments.Fears of additional sales by the German police also weighed.Broader cryptocurrency prices tracked steep declines in Bitcoin, with uncertainty over the U.S. presidential election and interest rates also factoring into weak sentiment towards crypto.Speculation that President Joe Biden may drop out as the Democratic candidate for the 2024 elections sparked some uncertainty among crypto markets, especially amid concerns that Biden will be replaced by a candidate who is even more averse towards crypto. Additionally, uncertainty before a key U.S. nonfarm payrolls reading also kept traders averse towards crypto, even as the dollar sank on growing expectations of an interest rate cut in September. Crypto markets largely lagged a rally in stocks, which they usually track. World no.2 token Ether slid 7.7% to $2,920.54, wiping out all of its gains made in late May and hitting a near two-month low.XRP, SOL and ADA dropped between 3% and 13%, while among meme tokens, SHIB and DOGE lost around 11% each. Losses were also driven in part by low trading volumes due to the July 4 U.S. market holiday. But they also reflected steadily declining sentiment towards crypto, as hype over the approval of a spot Bitcoin exchange-traded fund ran dry.Overall, the cryptocurrency market has lost more than $170 billion in market capitalization over the past 24 hours, according to CoinGecko data.Alongside altcoins, crypto-related stocks also tracked Bitcoin’s declines on Friday.MicroStrategy Incorporated (NASDAQ:MSTR), the largest publicly listed corporate holder of Bitcoin, saw its shares plummet more than 9%.Similarly, bitcoin miners Riot Platforms (NASDAQ:RIOT) and Marathon Digital Holdings Inc (NASDAQ:MARA) plunged 7% and 6.3%, respectively.Moreover, CleanSpark Inc (NASDAQ:CLSK) shares fell over 4.6%, Cipher Mining Inc (NASDAQ:CIFR) slid 8.6%, and Coinbase Global Inc (NASDAQ:COIN) lost 6%. More
Gamma Prime is the next-generation protocol for tokenizing real yield strategies from the top global market makers and funds. The regulatory-compliant L1 introduces new yield primitives with complete composability and interoperability. By creating the first protocol for authentic yield generation in DeFi, Gamma Prime democratizes access to returns across crypto and real-world assets for individuals and institutions alike.Founders & teamGamma Prime brings together a multi-disciplinary team of market-making industry experts, Web3 veteran innovators, and elite providers of world-class hedge fund infrastructure. The team is led by Evan Szu, a 30-year expert in commodity futures, serial entrepreneur of multiple Web3 and technology startups, veteran machine learning engineer, and Stanford PhD. Together, the founders bring a wealth of experience from the most prestigious market-making and high-frequency trade firms including Citadel, CME Group (NASDAQ:CME), CBOE, DV Trading, and WH Trading.Multi-Strategy Blue Chip YieldGamma Prime employs a multi-asset, multi-strategy approach that aims to optimize yield opportunities. Beyond simple basis trading, Gamma Prime brings multiple strategies from the top global arbitrageurs honed over decades of experience to the rich opportunity of greenfield crypto assets. The Gamma Prime protocol is designed with institutional-grade regulatory compliance and infrastructure, enabling the integration of institutional assets into the crypto yield ecosystem.SummaryGamma Prime brings together traditional finance and DeFi innovation to create the next-generation protocol for tokenizing real yield. The regulatory-compliant L1 democratizes access to the yield-generating strategies developed over decades by the largest most successful investment funds. By leveraging the extensive experience of its team and employing a diverse array of advanced strategies, Gamma Prime is redefining what it means to generate authentic yield in the DeFi ecosystem.About Gamma PrimeGamma Prime is the next generation of real yield protocols and a regulatory-compliant L1, tokenizing dozens of yield generation strategies developed over decades by the largest and most successful traditional finance funds, such as Citadel. These strategies are now made available to the masses as new yield primitives with complete composability and interoperability.Website | Twitter | LinkedinContactBDGamma PrimeGamma Primemarketing@gammaprime.fiThis article was originally published on Chainwire More
Such resurgences can have bearish implications for the market. When long-dormant addresses are reactivated, it often indicates that holders are preparing to liquidate their assets, potentially flooding the market with significant amounts of Bitcoin.This can lead to increased selling pressure, driving prices down. The market’s reaction to such events is typically cautious, as traders prepare for potential sell-offs.Interestingly, this trend of decades-old wallets coming back to life has been notable this month, and today is not even the first such awakening.These movements are particularly noteworthy given the current state of the crypto market. The price of Bitcoin continues to trade in the red, with the leading cryptocurrency hitting $57,300 today, a level not seen since late April.The market downturn, coupled with the reactivation of these old addresses, has created a climate of uncertainty and caution among traders.This article was originally published on U.Today More
The German Federal Criminal Police Office started selling some of the Bitcoin proceeds it confiscated in May. Thus far, the government has offloaded over 9,641 BTC worth more than $550 million on cryptocurrency exchanges in small tranches.While its Bitcoin holdings pale in comparison to the broader circulating supply, the market sentiment to this sell-off is rather erratic. Earlier today, the German police transferred 1,300 BTC to Kraken, Coinbase (NASDAQ:COIN) and Bitstamp, a transfer that triggered a massive sell-off in the price of the coin.At the time of writing, the Bitcoin price has lost its edge. The coin is changing hands for $57,400.54, down by 4.58% in the past 24 hours. This is the first time since mid-March that the price of Bitcoin will be trading as low as $57,000, a trend that does not speak well of network health.The market may grow a thick skin as concerns the occasional sell-off from the government. This is a survival strategy, especially because more dumping is coming into the market soon.Like the German government, the United States government is also offloading its stash. This governmental sell-off might be complicated by the expected Mt. Gox repayment and likely sell-off. The market needs its inbuilt resilient mechanism to handle the bearish days ahead, at least until Sun’s offer is accepted.This article was originally published on U.Today More
Pandiana, a solana meme infused play-to-earn gaming has launched it’s much anticipated presale for $PNDA tokens, this announcement comes right after the team announced the raise of $500,000 in a pre-seed raise.The $PNDA token presale is set to begin today 4th of July 2024, marking a significant opportunity for Solana cryptocurrency enthusiasts and investors to become part of an innovative and engaging gaming ecosystem.A Dive Into Meme Infused Play-to-Earn GamingPandiana is designed to elevate the traditional meme coin market by integrating captivating gameplay elements with blockchain technology. The Pandiana team is developing a thrilling play-to-earn game set within a vibrant panda-themed world, offering players not only entertainment but also opportunities to earn through gameplay.The $PNDA token is central to this ecosystem, designed for various utilities such as purchasing in-game items, staking for rewards, and participating in governance decisions.$PNDA Presale DetailsThe presale event allows early participants to acquire $PNDA tokens before they are listed on exchanges.Information for potential investors:Presale Start Date: 4th July 2024Token Allocation: 40% of the total $PNDA supply will be available during the presalePresale Price: 1 SOL = 400 $PNDAPresale Limits: Minimum of 1 SOL and maximum of 100 SOL per investorJoin Presale: Participants can join the presale by visiting https://pandiana.io/According to Pandiana, 25% of the raised $PNDA tokens will be paired with $SOL and used to supply liquidity on Raydium at a 50% higher rate than presale rate.Users can stay updated by joining the growing and vibrant Pandiana community on Telegram and Discord.Raised Funds Allocation StrategyThe raised funds will be strategically allocated to enhance the development and growth of the Pandiana platform and also expanding marketing efforts to increase user adoption and community engagement.To join the $PNDA presale: https://pandiana.io/Alternatively, users can also check this guide on how to buy $PNDA tokens.About PandianaPandiana is a pioneering meme-based play-to-earn gaming project on the Solana blockchain.By combining the excitement of meme culture with the potential profitability and engagement of a blockchain game, Pandiana aims to provide a seamless and immersive gaming experience that rewards its players.The Pandiana CommunityPandiana is committed to building a robust and vibrant community around its Solana based meme infused play-to-earn platform.Website: https://pandiana.ioX: https://x.com/pandianaonsolTelegram: https://t.me/pandianaonsolDiscord: https://discord.com/invite/pandianaContactProject LeadMatt TaylorPandianasupport@pandiana.ioThis article was originally published on Chainwire More
ASIC MARKETPLACE is celebrating 3 remarkable years of leading the industry as the most reliable Asic sourcing platform, serving robust ASIC Miners across the world, marking phenomenal achievement and growth in the mining landscape. ASIC marketplace has been in the industry since 2021, where it has performed as a pioneer in reselling the 12800+ ASIC Mining Hardware successfully to date across 80+ countries. marketplace calls itself a successful and happy family of 4300+ customers globally due to the contributions it has made to deliver groundbreaking ASIC Miners to its customers at their doorstep. The company is known well for its innovative and economical range of ASIC Miners curated for every kind of consumer, its commitment to delivering the best, and its vision for elevating the mining experience for everyone who is or wants to be an integral part of the ASIC Mining industry. ASIC marketplace has reliably set a pertinent benchmark in the industry by collaborating with renowned players of the industry manufacturers to deliver high-quality products to help the miners reach their goals. Asic Marketplace constantly dedicates its success and extends warm thanks to its team members and customers for the unwavering support that they provided them over these three excellent years. The mining industry evolves each day, and new advancements are being introduced every time, which demand new innovative mining machines. Asic Marketplace stands firm as a pillar here that makes it possible for novices as well as professionals to cater for their mining needs, which speaks volumes about the work they have done over the years. The three-year milestone is a testament to the success of their collaboration with hi-tech industry leaders and manufacturers, which solidifies their position as a winning and highly recognized eCommerce platform. For more information, users can contact Asic Marketplace using the details mentioned below.About ASIC MarketplaceASIC Marketplace is a leading platform dedicated to providing a wide range of ASIC mining hardware. Founded in 2021, the company has quickly become a trusted name in the industry, known for its commitment to quality and customer satisfaction. With a presence in over 80 countries and a customer base exceeding 4,300 clients, ASIC Marketplace offers innovative and economical mining solutions to meet the diverse needs of the global mining community.Website: https://asicmarketplace.com/ ContactManagerRain LeeAsic Marketplacerain@asicmarketplace.comThis article was originally published on Chainwire More
Over the past 24 hours, positions worth $319.98 million have been liquidated, and that is without taking into account two more days since the beginning of the week. According to the interim results of the week, we can now state the loss of $176 billion in capitalization for the entire crypto market.It is natural that such price action has caused general fear, uncertainty and doubt among market participants. Peter Brandt, a legendary trader and frequent commentator on current events in the financial markets, volunteered to at least clarify the vision.”In the U.S., our attention always turns to flags on the 4th of July weekend,” Brandt noted, adding a bit of humor to his technical analysis.As you can see, the mood that Brandt is painting is not quite bullish, meaning that it is possible that buyers are in for a painful period on the market.Either way, the perspective of the trading legend may help him prepare for further downside. Whether or not that is the case, we will know for sure only in hindsight.This article was originally published on U.Today More
