Cryptocurrency

Mt. Gox’s trustee will reportedly start returning more than 141,900 BTC, valued at around $8.7 billion, to creditors beginning in July. Bitcoin reached a record high near $74,000 in mid-March, driven by a surge of interest in new spot exchange-traded funds, but its price has since fallen.”While it’s uncertain how much of the distributed BTC will be sold by creditors, we do not expect all or even most of the coins to be sold in the short term,” H.C. Wainwright analysts commented. “Many of these early investors in BTC have a hodl mentality and very low cost bases.”Elsewhere, shares of AI-linked bitcoin miners outperformed pure-play miners, rising by 11.5% compared to a 1.4% increase for the latter group. This surge follows several announcements, including a $150 million investment by Coatue into Hut 8 Corp (NASDAQ:HUT) via a convertible note to build data center infrastructure focused on AI. Additionally, two other public miners disclosed expanded contracts with existing AI customers.”AI contracts come with recurring, high-margin revenue streams that are not susceptible to BTC price fluctuations,” the analysts noted. “BTC miners are leveraging their infrastructure capacity to support AI compute, attracting new tech investors in the process.”Last Thursday, Nasdaq-listed software firm MicroStrategy (NASDAQ:MSTR) acquired an additional 11,931 BTC for $786 million, at an average price of about $65,900 per coin. With this latest acquisition, MicroStrategy’s total holdings have increased to 226,331 tokens, worth just under $14 billion. The largest corporate holder of bitcoin invested over $8.3 billion into the original cryptocurrency since 2020.In terms of hardware advancements, Bitmain unveiled its latest Antminer S21 series rigs at the World Digital Mining Summit in Las Vegas. The air-cooled S21 XP boasts 270 TH/s of computing power with an efficiency rating of 13.5 J/TH, a 10% improvement over the S21 Pro. Additionally, Bitmain announced the S21 XP Hydro, a hydro-cooled model with 473 TH/s and an efficiency rating of 12 J/TH. These new rigs are expected to begin shipping in Q4 2024.“Mining stocks declined by a more modest 1.3%. The network hash rate fell by 1.3% to 574 EH/s, and network difficulty remained virtually unchanged at 83.7T. Hashprices dropped 7.2% to $0.05/TH/day due to lower BTC prices,” H.C. Wainwright wrote. More

Minutes Network is pleased to announce a ground-breaking collaboration that is set to bring 1.2 billion users to Minutes Network over the next 24 months.In a strategic move that leverages Minutes Network`s rapid scaling technology with SEW´s AI-driven customer and workforce experience platforms, the extensive SEW base of over 1.2 billion consumers is now in the reachable userbase of Minutes Network.Founded in 2012 and based in Irvine, California SEW is a technology company that provides digital customer experience and workforce engagement solutions for electric, water, and gas providers. SEW operates in 45 countries and has over 1.2 billion integrated mobile application users. With its innovative and industry-leading cloud platforms, currently delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT Analytics to the global energy, water, and gas providers. Expanding the platform into the telecom sector is a natural progression to realize the vision to Engage, Empower, and Educate billions of people to save on their utilities services and prepare for the future.ContactCEOJosh WatkinsMinutes Network Ltdjosh@minutesnetwork.ioThis article was originally published on Chainwire More

PlayFi, an AI-powered data network and blockchain tailored for the gaming industry, today announces the launch of the PlayFi Airdrop Platform, which is now officially live. As PlayFi gears up for the launch of its $PLAY token later in 2024, this platform will serve as the primary hub for earning points and engaging with the PlayFi community.USers can follow PlayFi on X or visit PlayFi.ai to join the PlayFi Airdrop Platform and for continued updates.About PlayFiPlayFi is redefining gaming by integrating blockchain technology to enhance gameplay and community engagement. Through its cutting-edge PlayChain technology and AI-powered PlayBase network, PlayFi ensures a fast, secure, and scalable zkEVM blockchain solution, as well as optimal data processing and analysis tailored for the gaming industry. With a commitment to enhancing the gaming experience with web3, PlayFi is empowering developers, players, and studios across the globe to push the boundaries of innovation in an ever-evolving digital landscape and setting new standards in how games are played, developed, and monetized. For more information, visit playfi.ai.ContactSr. PR ManagerLeslie TermuhlenSerotoninleslie@serotonin.coThis article was originally published on Chainwire More

This article was originally published on U.Today More

GolfN is the first golf app to use the power of tokenization and digital collectibles to empower its members to earn rewards for playing and engaging with a physical sport. GolfN, Inc., today announced the closure of its $1.3 million Pre-Seed funding round. The round saw participation by prominent blockchain investors, including leading personalities and projects in the Solana ecosystem – CitizenX, Fourth Revolution Capital (@DeFi_Dad), Nom (@TheOnlyNom), and Joe McCann (Asymmetric Financial) – among others. First off the tee in building a gamified Play-to-earn (P2E) mechanism for a physical sport, GolfN will offer a premium digital caddie app to rival current market incumbents and pair it with Web3 rewards.About GolfNGolfN is redesigning golf engagement for the decentralized digital era. With a focus on innovation, community, and sustainability, GolfN is dedicated to enriching the golfing experience for golf enthusiasts of all levels. In addition to minting the first digital collectibles for a real-world sport like Golf, GolfN is developing a gamified social caddie app for on-course play, which golfers can use to play better and earn blockchain convertible rewards.For more information, users can visit GolfN’s: Official Website | Twitter (X) | Discord | YouTubeContactJames CarneyOperations LeadGolfN, Inc.james@golfn.com+1 708-365-9327This article was originally published on Chainwire More

This has happened while other large whales are dumping large amounts of BTC.That is not the only recent large Bitcoin purchase they made. As reported by Akrham, the German government continues to sell BTC. Earlier today, this entity transferred 400 Bitcoins to major cryptocurrency trading platforms Coinbase (NASDAQ:COIN) and Kraken. This amount of BTC is evaluated at roughly $24.34 million.However, the first transfer to exchanges took place last week, when the German government sent an impressive 1,700 BTC to Coinbase, Bitstamp and Kraken.Today, Bitcoin has made a successful attempt to regain some of its losses and recovered to $61,152, where it is changing hands at the time of this writing.This article was originally published on U.Today More

Drawing on this, data from crypto analytics platform IntoTheBlock shows that despite market FUD, the net inflow into Bitcoin’s largest wallets reached its highest level since late May to set a new historical record. The platform hinted that wallet addresses holding no less than 0.1% of the total Bitcoin supply have added 7,130 Bitcoin units. This massive BTC was valued at approximately $436 million and marks the whale volume for June 24 alone. This ongoing acquisition of Bitcoin by a large whale comes as a much-needed vote of confidence for the digital currency. With this backing from large whales, price resilience is formed and might help trigger a rebound in the price of the asset.The spot Bitcoin ETF market also comes as a major dormant propeller for the price of BTC. Thus far this month, there has been a consistent outflow of funds from these spot Bitcoin ETFs, fueled by the capital exodus from Grayscale and Fidelity Investments, among others.While Bitcoin determines the general direction of the crypto industry, its current resilience might be complemented should the spot Ethereum ETF bag S-1 approval in the near term. Already VanEck has filed form 8-A regarding its ETH ETF product, implying that the SEC’s approval for trading is now one step closer. Since the approval of the spot Ethereum ETF in May triggered a market rally, there is an expectation that the news of trading approval might create a similar result.This article was originally published on U.Today More

Ordinal Hive, a cutting-edge player in the Bitcoin ecosystem, has announced a groundbreaking partnership with Merlin Chain. This collaboration aims to create the first Ordinal trading protocol specifically designed for professional traders, addressing a significant gap in the current market landscape.The partnership between Ordinal Hive and Merlin Chain represents a major step forward in the evolution of Bitcoin-based asset trading. By leveraging Merlin Chain’s robust infrastructure, Ordinal Hive is poised to deliver a trading platform that combines fast transaction speeds, low fees, and advanced features tailored to the needs of high-frequency and high-volume Ordinal traders.Testnet Phase. Open to waitlisted users, this initial stage will allow early adopters to experience the platform and provide valuable feedback.Beta Release. Incorporating insights from the testnet phase, the beta version will go live on Merlin Mainnet, offering a more refined user experience.Official Launch. The full release will feature a comprehensive suite of tools and features designed to meet the needs of professional traders.By incorporating user feedback at each stage, the team aims to create a trading protocol that evolves with the needs of the Ordinals trading community.While the project is currently in stealth development, Ordinal Hive has hinted at exciting opportunities for early adopters. Users who bridge and list their Ordinals on the marketplace will have the chance to earn points, with more details to be revealed in the coming weeks.The partnership between Ordinal Hive and Merlin Chain marks a significant milestone in the maturation of the Ordinals ecosystem. As the first trading protocol built specifically for professional Ordinal traders, Ordinal Hive is poised to play a pivotal role in the future of Bitcoin-based asset trading.With a focus on meeting the unique needs of high-frequency and high-volume Ordinal traders, Ordinal Hive is committed to pushing the boundaries of what’s possible in the BTC space. By combining cutting-edge technology with a deep understanding of trader requirements, Ordinal Hive aims to create a platform that will drive the next wave of innovation in Bitcoin-based asset trading.For more information about Ordinal Hive and to stay updated on the platform’s development, users can visit Ordinal Hive’s website.ContactMrJamie KingsleyOrdinal Hivej.kingsley@theprgenius.comThis article was originally published on Chainwire More