Cryptocurrency

The agency sends a newsletter to its customers, in which it informs them about companies that it believes to be overvalued or noticed to be engaged in fraud, scams, etc. It also strives to identify frauds on financial markets and seeks to expose terminal business models.The reason here is that they have decided to respect the irrationality of the market. Here they made a mention of Dogecoin as an example of a similar asset, which is worth $20 billion in terms of market capitalization and is sort of representative of “the market’s irrationality”: “We respect the market’s irrationality. After all, Dogecoin remains a $20 billion entity.”According to Reuters, though, founder of Citron Research Andrew Left said that should GME reach $45-$50 per share, he would begin shorting it again.Those two influencers were Anthony Scaramucci and Jan3 chief executive Bitcoin maximalist Samson Mow. The latter believes that, in that case, both BTC and GME would see “Godzilla candles” immediately.This article was originally published on U.Today More

This better-than-the-expected-0.1% value implies that Federal Reserve monetary policies, as concerns keeping inflation steady, have been working overall. The upside might be felt with a recovery in risk-on assets like Bitcoin.At the time of writing, the digital currency has maintained its bearish drawdown, down by 3.76% in the past 24 hours to $67,351. This is a major derailment from the mildly bullish momentum from earlier in the week, when the coin made emphatic moves to surpass the $70,000 price level.Per the current outlook, the digital currency might be reacting to the news negatively, as a stronger PPI means a resilient economy, which gives corporate investors extra incentive to choose traditional assets over the risk asset.With spot Bitcoin ETFs actively trading in the United States, the United Kingdom, Canada and recently Hong Kong and Australia, there are enough avenues to buy the coin and drive the price up in the long term.Despite the drawdown, more than 513 million Bitcoin, or $34,291,565,528, has been traded in 24 hours atop a 17% jump. This is an indication of a bullish twist that might contribute to the BTC revival hurdle.This article was originally published on U.Today More

Devour, the leading web3-powered food ordering platform, announced today that it’s simplifying crypto payments for millions of users with the integration of Coinbase (NASDAQ:COIN) Commerce into its DevourGO checkout. This innovative move allows crypto enthusiasts to seamlessly pay for their favorite meals using their existing Coinbase.com or Wallet accounts, all within the DevourGO app.Devour is a trailblazing platform that transforms the digital dining experience, uniquely integrating food ordering into the gaming and streaming worlds for Gen Z. It’s more than an app; it’s an innovative ecosystem where games, entertainment, and food converge. With the Devour Platform, we’re tapping into the lifestyles of over 200 million U.S. gamers, offering a seamless blend of entertainment and convenience. Learn more at devour.io.About CoinbaseCrypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.For media inquiries or to request an interview with CEO Shelly Rupel, users can contact Leah Smith at press@devour.ioContactCMOLeah SmithDevourpress@devour.ioThis article was originally published on Chainwire More

The world’s biggest cryptocurrency fell 2.1% in the past 24 hours to $67,850.9 by 08:30 ET (12:30 GMT). The token clocked wild swings this week, rising as far as $70,000 before falling sharply. Traders remained largely averse to Bitcoin and broader cryptocurrencies in the face of high-for-longer U.S. interest rates.While the Fed kept rates unchanged on Wednesday, as expected, Chair Jerome Powell said the central bank now saw the possibility of only one rate cut this year, compared to prior expectations of three cuts.Several policymakers also called for no rate cuts this year, stating that more progress needed to be made in bringing down inflation. The Fed also hiked its inflation forecast for the year. The Fed’s comments came after data earlier on Wednesday showed U.S. consumer inflation eased slightly more than expected in May. While Bitcoin saw some gains after the inflation reading, it lost ground after the Fed’s comments.High rates bode poorly for speculative assets such as crypto currencies, given that they limit the amount of liquidity available for investing in the sector. While recent capital flows data showed institutional investors were still pouring in some money into crypto, this was barely reflected in token prices. Focus is now on producer price index inflation data for more cues on U.S. inflation. The reading is due later on Thursday.The prospect of high for longer U.S. interest rates also weighed on broader cryptocurrency prices. World no.2 token Ether slid 3.3% to $3,516.65, giving up even more of its gains made in the prior month.Solana and XRP fell 2.1% and 0.1%, respectively, while Cardano climbed 0.5%, though all three coins were trading down for the week.Among meme tokens, SHIB dipped 2.4% while DOGE rose 2.5%. But sentiment towards the two was largely cooling in tandem with diminishing interest in meme stocks on Wall Street. GameStop Corp (NYSE:GME) lost even more ground on Wednesday and wiped out most of a rally seen in late-May. Business intelligence form and largest corporate holder of Bitcoin, MicroStrategy, said on Thursday it will offer $500 million in convertible senior notes due 2032.The proceeds will be used to purchase additional Bitcoin and for other corporate purposes. The offering is contingent on market conditions, with no guaranteed timing or terms.”MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75 million aggregate principal amount of the notes,” the company wrote in the announcement.MSTR shares were down 1.4% in premarket trading.Starting June 20, 2029, MicroStrategy may redeem all or part of the notes for cash, subject to certain conditions. The private offering will be available to individuals qualified as institutional buyers under Rule 144A of the Securities Act of 1933.Currently, MicroStrategy holds 214,400 BTC, valued at over $14 billion, making it the largest public-listed Bitcoin holder. More

Over the past few weeks, the price of Bitcoin has experienced considerable perturbations. It quoted around $70,000 before suddenly dropping more than 4%, causing epic market liquidation and anxiety among traders. This drop followed a period of price consolidation in which Bitcoin seemed poised for a new high.Bollinger addressed the market’s belief that extended periods of consolidation can lead to significant price gains. He referenced an old market principle, “the bigger the base, the higher in space,” suggesting that a strong base period could lead to significant upside. This idea is particularly relevant given the crypto market’s tendency to swing between fear and greed.His latest comments are in line with his previous predictions. About a month ago, when Bitcoin was trading near $70,000, Bollinger hinted at a possible price pullback. That prediction came true as the price fell to $67,000, where it is currently trading. The key question now is whether BTC will hold this level or see further changes.Does Bollinger really expect the price of the major cryptocurrency to fly into space after such a prolonged test of traders’ nerves? It will be interesting to see what happens next.This article was originally published on U.Today More

The offering is subject to market conditions with no guaranteed timing or terms. “MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75 million aggregate principal amount of the notes,” the company said in the press release. Starting June 20, 2029, MicroStrategy may redeem all or part of the notes for cash, subject to certain conditions. The private offering will be available to individuals qualified as institutional buyers under Rule 144A of the Securities Act of 1933.MicroStrategy currently holds 214,400 BTC, valued at over $14 billion, making it the largest public-listed Bitcoin holder.MSTR shares fell 1.5% in premarket trading. More

Supra, a fully vertically integrated Layer-1 blockchain, equipped with Multi-VM support, in-protocol oracles, VRF, bridges, and automation features, is excited to announce the launch of its competition, the “Super dApp Showdown.” Season One of this competition is scheduled to begin in August 2024, with a panel of judges that includes representatives from Supra, Google (NASDAQ:GOOGL) Cloud, Republic Crypto, Hashkey Capital, and the hit crypto-focused reality TV show Killer Whales, all set to vote on the best projects. The platform is calling on the most skilled blockchain developers in the industry to build and deploy what Supra calls “Super dApps” on its robust Layer-1 network. Participants will have the opportunity to compete for investments from Supra’s newly established $100 million Ecosystem Fund. For developers, the Super dApp Showdown presents a fantastic opportunity to hit the ground running, bringing their Super dApps to a highly-engaged audience of more than 500k verified unique token holders attained on their gamified community platform “Project Blast Off”, as well as a broader community of 1.3 million email subscribers. Every week, a winning team’s Super dApp will be featured on the Blast Off platform with missions and quests to help users learn about their project, with the builders able to choose the nature of the rewards on offer; such as prizes, airdrops, in-game assets, NFTs etc. Users can look forward to new rewards each week for engaging with dApps such as giveaways, digital collectibles and partner airdrops.Season One of the Super dApp Showdown kicks off in August and will run for three months, after which 12 winners will be selected by a panel of judges across DeFi, GameFi, Web3 Social and other categories. The judges will include representatives from Supra’s leadership team, plus well-known “whales” from the hit reality TV show Killer Whales, produced by HELLO Labs, which is similar to the popular Shark Tank TV series, but with a focus on Web3 startups. Other judges sitting on the Super dApp Showdown panel will include experts from key ecosystem partners such as Google Cloud, Republic Crypto, HashKey Capital, and more. The judging process will also take into consideration feedback from Supra’s community, which will be invited to vote on their favorite Super dApps. Builders looking to take part in the competition can enter on Supra’s Super dApp Showdown application page.Joshua Tobkin, CEO and Co-Founder of Supra, said in a quote: “We are thrilled to collaborate with Killer Whales as our media partner for the Super dApp Showdown and beyond. At Supra, we understand that attracting the right builders and founders requires a combination of capital and exposure. Along with access to Supra’s $100 million Ecosystem Fund and 500k verified token holders, projects will also have the chance to get featured on Killer Whales, benefiting from their exceptional team, high-quality production, and significant visibility.”Sander Gortjes, Co-Founder of HELLO Labs and Executive Producer of Killer Whales, went on to say “We are excited to work together with Supra on the growth of their ecosystem and provide a podium for the projects that emerge as winners of the Super dApp Showdown with Killer Whales and our streaming partners, potentially giving them a televised reach of 600 million people globally”. Designed to reduce friction around user onboarding and experience in Web3, the Supra L1 is powered by the groundbreaking Moonshot consensus mechanism, which brings blazing-fast performance and robust security guarantees to its data feeds. In its advanced global testing phase, Supra demonstrated Moonshot’s ability to process a throughput of 530k transactions per second across 125 nodes distributed globally, with 500-millisecond optimistic finality and ~1.5–2 secs full finality, placing it head-and-shoulders above most other competing consensus mechanisms. The Supra blockchain is vertically integrated with their Distributed Oracle (NYSE:ORCL) Agreement (DORA protocol), a cutting-edge oracle that provides real-time data accessibility to enable the development of faster and more functional dApps spanning DeFi, GameFi and other blockchain use cases. It also incorporates Supra’s novel decentralized verifiable randomness generator, Supra dVRF, to ensure full transparency and unpredictability into random outcomes in games, prize draws and more. Building on Supra will give developers the opportunity to see the performance benefits of its fully vertically integrated L1 for themselves, with the winning projects receiving investments out of the $100M Ecosystem Fund. Other benefits include the chance for winning teams to appear on Killer Whales and pitch their ideas to some of the crypto industry’s top investors, plus consultations with Supra’s team, free access to Supra’s core services, zero-fee access to a token launch platform, cross-promotion and marketing via Supra’s social channels, along with the chance to network with an extensive ecosystem of VCs and partners.Supra plans to host the Super dApp Showdown on an ongoing basis, with new seasons launching every three months; so teams that aren’t quite ready for Season One won’t have long to wait for another chance to engage with one of the fastest-growing communities in Web3. Web3 enthusiasts can stay up to date with the competition and apply to showcase their Super dApps on Supra’s application page.About SupraSupra is an all-new blockchain that vertically integrates oracles, bridges, automation and randomness into a powerful Layer-1 with Multi-VM compatibility. It’s designed to give developers all the tools they need to build on one chain, enabling a new breed of Super dApps.Supra is also a leading provider of oracle price feeds and verifiable randomness across 80+ blockchains with Layer-1 security guarantees. They focus on solving real problems for dApp developers and scaling Web3, supported by a developer toolkit with extensive guides and technical whitepapers.About Killer WhalesKiller Whales is a groundbreaking television series that spotlights the most exciting and innovative projects within the Web3 industry. Backed by HELLO Labs and CoinMarketCap, the show provides a platform for emerging talent to showcase their creations to a worldwide audience of over 600 million potential viewers via their premium streaming partners.About HELLO Labs:HELLO Labs is a leading Web3 entertainment company dedicated to pushing the boundaries of digital entertainment. Through innovative partnerships and groundbreaking projects, HELLO Labs aims to revolutionize the entertainment industry.DisclaimerInvestments allocated out of the Ecosystem Fund during the Super dApp Showdown will be made in $SUPRA, which is the native token of the Supra ecosystem. The stated value of the Ecosystem Fund is calculated with reference to the anticipated value of $SUPRA at the commencement date of the Super dApp Showdown. Please note that the actual value of $SUPRA, as well as the Ecosystem Fund, may vary and is subject to market fluctuations. Supra does not guarantee or warrant the future value of $SUPRA or the Ecosystem Fund.ContactAvishay Litanipr@marketacross.comThis article was originally published on Chainwire More

Despite its early strong momentum, the price action of ETH has surprised a lot of traders. After hitting resistance at about $3,800, Ethereum entered a consolidation phase. The current decline that we have observed, which is frequently an indication of market indecision, was foreseen in this instance by sideways movement. Over the past few days, Ethereum’s price has dropped significantly, approaching $3,500. The market had been feeling bullish overall, so many people were surprised by this sudden decline. There are several possible reasons for this unforeseen behavior. Initial liquidity issues could be crucial. Furthermore, macroeconomic factors and investor sentiment are always important. Ethereum’s performance may have been impacted by recent global financial trends, regulatory news or even bigger sell-offs on the market. It is also critical to keep in mind that fluctuations in Bitcoin (such as the decline below $70,000) frequently have an impact on the entire cryptocurrency market, including Ethereum. Technical indicators show that there was a significant sell-off of ETH in a short period of time. Reentry by buyers onto the market may indicate potential for expansion. Moving averages also show another concerning pattern: the shorter-term MAs crossing below the longer-term MAs, which is typically a bearish signal. Despite the recent downturn, Ethereum’s fundamentals remain strong.A decreasing number of new purchasers are nevertheless willing to make these high-level investments, according to the state of the market. The lack of buying interest is making it difficult for Bitcoin to surpass the psychological $70,000 barrier. The change in institutional behavior is another important component. Institutions are now shifting money away from Bitcoin ETFs despite the fact that they were crucial to Bitcoin’s earlier rallies. This change is partially the result of people looking for better returns in alternative asset classes or new developments in the cryptocurrency industry. The potential price of Bitcoin is weakened by diminished institutional support because a significant portion of the buying pressure that raised prices came from these large-scale investors. Furthermore, strong fundamental drivers that have historically sparked enormous bull runs are absent from Bitcoin at the moment. While the NFT craze played a similar role in 2021, the ICO boom in 2017 propelled Bitcoin to previously-unheard-of heights. There is currently no trend or invention like this propelling investor capital and enthusiasm toward Bitcoin on a large scale. The struggles of Bitcoin are also reflected in technical indicators. It appears that neither overbought nor oversold conditions exist as the Relative Strength Index (RSI) has been circling around neutral. This neutral RSI adds to the general sense of indecisiveness and uncertainty on the market, further impeding any meaningful price movement.XRP has been steadily losing value over the last few weeks as it has been in a downtrend. The first real red flag appeared when the 50-day EMA disappeared. After that, XRP dropped below both the critical psychological support level of $0.5, which is represented by the orange line on the 100-day EMA, further deteriorating its technical outlook. The annual low of $0.44 is the next significant support level for XRP. The likelihood of reaching this level appears to be growing given the state of the market and technical indicators. There is a long-term bearish trend indicated by the 200-day EMA, which is still significantly above the current price. The absence of significant purchasing power is one of the primary causes of XRP’s downfall. The asset finds it difficult to hold onto its value, much less increase it in the absence of substantial buy-side interest. Due to investor caution brought on by macroeconomic uncertainties, the overall market conditions for cryptocurrencies are currently not very favorable.This article was originally published on U.Today More