Cryptocurrency

This coincided with the price of the world’s largest crypto plummeting by almost 5.5%,While many have been withdrawing BTC from exchanges, a major dormant wallet that was reactivated on Tuesday, transferred 8,000 Bitcoins to the largest crypto exchange – Binance. That amount of BTC was evaluated at more than $535 million at the time of the transfer.Prior to that transaction, the whale remained inactive for approximately five and a half years.Today’s growth was 3.29% overall as the inflation data for May (CPI) was released. The consumer price index proved to be lower than expected by analysts – 3.3% versus 3.4%. This pushed Bitcoin up, helping it recover an important psychological price mark.By now, however, BTC has seen a minor pullback and is changing hands in the $69,700 zone.This article was originally published on U.Today More

This article was originally published on U.Today More

Traditionally, significant withdrawals have been seen as a bullish sign suggesting that investors are choosing to hold their money in personal wallets as opposed to storing it on exchanges for quick trading. This usually lowers the amount of stock on exchanges, which could raise prices because of greater scarcity. Still the price of Bitcoin has not increased as anticipated, even with the significant volume of withdrawals. This oddity implies that there are currently other market forces affecting the dynamics of BTC prices.Macroeconomic conditions impacting the cryptocurrency market as a whole have led to cautious sentiment, which could be one explanation. The actions of institutional investors are another thing to take into account. These organizations now handle their cryptocurrency holdings in a different way. Institutions may be shifting their assets off exchanges for compliance and increased security purposes rather than getting ready to sell, as more advanced custody solutions become available. This trend is consistent with the wider adoption of decentralized financial practices and the shift toward self-custody. Furthermore, the data indicates a drop in Bitcoin reserves on exchanges during the previous month.This trend may be part of a larger plan by long-term investors, or whales, to reduce the size of their holdings in anticipation of future market movements. Though it does not always result in price increases right away, this withdrawal activity may indicate confidence in Bitcoin’s long-term value.The charts show that although there have been occasional swings in price, Bitcoin’s exchange reserves have been steadily dropping. According to this pattern, the market is presently consolidating, with neither bulls nor bears clearly in the lead.This article was originally published on U.Today More

The capital injection drew support from existing and new investors, including Delphi Ventures, Merit Circle, and Mechanism Capital. The recent financing round was also bankrolled by Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, and Foresight Ventures.  The raise counts angel investors such as Sébastien Borget, co-founder of The Sandbox.Pixelverse plans to use the new funding to advance its tap-to-earn model and to create future games and infrastructure for Web3 gaming. The firm rewards regular engagement with Web3 games and mini apps, which combine elements of GameFi and SocialFi.The funding comes at a time of growth for Pixelverse, which claims that its quest-based cyberpunk browser and Telegram games have attracted over 15 million users and 5 million daily active users within its first month.“Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption,” said Kori Leon, COO of Pixelverse and former Binance Listing team member. “Closing this round will allow us to expand our adoption strategy as we continue our journey to become a leading gaming and entertainment hub globally.”Piers Kicks, founding partner of Delphi Ventures, added: “We are pleased to be backing Pixelverse as they leverage Telegram’s distribution to drive a massive audience into their ecosystem. The team is in tune with the market, and we’re excited to see how they will execute their ambitious roadmap this year.”A portion of the capital will be used to further develop the company’s Telegram mini-app, PixelTap. Pixelverse’s browser-based realm is set to expand, incorporating multiple mini-games and immersive storytelling, the statement read.Created by former Step App CEO Kirill Volgin, Pixelverse features engaging PvE battles, a “Risk-to-Earn” system, and customizable NFT bots. The game also encourages third-party development through its SDK and Pixelchain infrastructure.The gameplay of Pixelverse centers on collecting rare items to craft bots, which players can upgrade and merge to create the ultimate battler for the arena. A key aspect of the game is its approach to blockchain gaming earnings, where players are rewarded based on the level of risk they take.  More

Proof of SQL is a novel ZK proof developed by SxT, which cryptographically guarantees that SQL database queries were computed accurately against untampered data. Using Proof of SQL, developers can compute over both onchain and offchain datasets in a trustless manner, proving the result back to their smart contract just-in-time during a transaction to power more sophisticated DeFi protocols with data-driven smart contracts.“Space and Time is thrilled to lead Web3 into a new era of data-driven smart contracts and the next generation of DeFi,” said Jay White, PhD, Co-Founder and Head of Research at SxT, and the inventor of the Proof of SQL protocol. “Our team pioneered sub-second ZK proofs so that smart contracts and AI agents can ask questions about a chain’s activity, as well as offchain data, and receive back trustless SQL query results onchain during a transaction without having to wait for 30 minute proof times.”Proof of SQL was released in alpha to a select group of SxT customers in August. With today’s release on GitHub, the protocol is now available to the public. Community members can run trustless queries on SxT on the Space and Time Studio, and developers can download the repository directly from GitHub. Proof of SQL is the first ZK prover that runs sub-second. In the latest benchmarks run by the SxT cryptography team, the protocol can execute analytic queries over 100k-row tables in less than a second on a single GPU, and can aggregate over millions of rows of indexed data within Ethereum block time on a single NVIDIA (NASDAQ:NVDA) T4.Proof of SQL offers a significantly more performant architecture for processing large volumes of data than generalized zkVMs and co-processors. While generalized zkVMs offer an extensible solution for arbitrary computations, data processing is slow to prove.Proof of SQL can be integrated with these zkVMs to provide verifiable source data that arbitrary code can be executed over. Space and Time encourages and invites contributions from the community, as well as other ZKP engineering teams to collaborate in the repo. The prover can be integrated into any SQL database (such as Google (NASDAQ:GOOGL) BigQuery), centralized or decentralized, and is already securing some of the most prominent Web3 apps, financial institutions, and enterprises.About Space and TimeSpace and Time is the verifiable compute layer for AI x blockchain that joins tamperproof onchain and offchain data to deliver enterprise use cases to smart contracts and LLMs. Space and Time has developed a novel cryptography called Proof of SQL that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.For more information, visit: Website | Twitter | Discord | Telegram | LinkedIn | YouTubeContactCatherine Dalymarketing@spaceandtime.ioThis article was originally published on Chainwire More

The VGX Foundation has announced a partnership with popular web3 game Honeyland, offering rewards utilizing the VGX token for their players.VGX is a token that bridges multiple chains and is focused on bridging utility across GameFi and gaming ecosystems.Honeyland is a popular blockchain-based casual strategy game available on iOS and Android, and one of the top games on Solana. With the new partnership, holders of Genesis Eggs, Bees, or Queens based on a snapshot of holders taken at 17:00 UTC on June 6, 2024, will receive VGX rewards. Thanks to the previously announced partnership with Gala Games, players receiving VGX will be able to take their VGX to Gala Games, where they can purchase a Voyager: Ascension season pass unlocking the ability to earn GVGX rewards.In addition to the VGX reward for Genesis holders, from June 12 to June 19, there will be a free VGX cosmetic trait available to all Honeyland players in the Honeyland Cosmetic Shop: a VGX-themed “Mad Hatter” style hat. The cosmetic trait can be fused to any Bee, and by doing so will boost the Capacity trait for the Bee.“We’re always looking for new ways to reward Honeyland players,” said Corey Wright, CEO at Honeyland. “Thanks to this partnership with the VGX Foundation, we’re able to offer exciting new rewards to our players whether they’ve been with us since the beginning, or are joining today.”The VGX Foundation’s mission is to increase the number of projects integrating and using the VGX token, growing the number of users able to access and use the token across web3 gaming. For more information, visit www.vgxfoundation.com.For media inquiries, please contact Melrose PR at (310) 260-7901 or Info(at)Melrosepr(dot)comAbout VGX FoundationThe VGX Foundation leads the evolution of decentralized gaming economies through its dynamic blockchain-based gaming token, VGX. Serving as an in-game currency and reward mechanism, VGX empowers diverse gaming communities. The VGX Foundation actively fosters growth by facilitating grants and partnerships for game developers and platforms, enabling the expansion of the token’s use case and nurturing a thriving VGX ecosystem.ContactAccount DirectorJonthan DuranMelrose PRjonathan@melrosepr.comThis article was originally published on Chainwire More

Thus, it appears that hedge funds are engaging in market-neutral strategies, such as carry trades or basis trades, which involve holding long positions in spot Bitcoin ETF while shorting futures. This strategy benefits from the price convergence of the futures and spot markets at contract expiration.A recent review of the top 80 holdings in spot Bitcoin ETFs, which are predominantly controlled by hedge funds, supports this narrative. Commenting on the data, financial analyst Raoul Pal emphasized that the majority of ETF flows are driven by arbitrageurs rather than retail investors. Pal noted that the main activities of the listed hedge funds are predominantly market neutral, focusing on arbitrage opportunities rather than taking directional risks.This dynamic explains why significant inflows into spot Bitcoin ETFs have not triggered an explosive rise in the price of the coin. The market-neutral strategies employed by hedge funds offset potential price spikes by simultaneously shorting futures.As a result, retail investors, who typically drive more pronounced market movements, have not yet had a significant impact.While current ETF inflows have not dramatically increased Bitcoin’s price, the potential for future growth remains substantial. The lack of significant retail investment suggests that the market may experience a new wave of growth when retail investors eventually enter, providing additional stimulus for BTC’s value.This article was originally published on U.Today More

Topper integrates Brazil’s Central Bank-Managed Pix for Instant Payments on 200+ digital assets.Today Topper, a fiat-to-crypto on-ramp by the global web3 financial platform Uphold, announced their Latin American expansion plans to begin offering streamlined crypto payment solutions, beginning in Brazil. This milestone propels their mission forward: to foster the mass adoption of crypto and to create global seamless crypto transactions across Topper’s partners and their users.With a diverse range of over 200 digital assets and coverage in more than 150 countries, Topper has integrated Pix as a payment method, a quick payment service run by Brazil’s Central Bank. By offering Pix as a payment option when buying crypto through Topper, Topper’s partners have a more reliable and efficient means to serve their customers in Brazil.“Expanding into Latin America, beginning with Brazil and Pix, is a big leap towards our goal of fostering worldwide crypto adoption,” shared Robin O’Connell, CEO of Uphold Enterprise. “We’re thrilled to introduce Topper to the 26 million crypto-savvy users in Brazil, offering them an easier and more dependable way to step into the world of web3.”Expanded benefits for Topper’s partners and users in Brazil:Topper is planning to expand into more Latin American markets throughout the rest of 2024. To find out more, visit www.topperpay.com/.About TopperTopper, the easy fiat on-ramp with higher approval rates, is a quick-to-implement web3 payment tool that lets crypto projects process more of their customers’ payments – supporting twice as many digital assets than its competitors. The Topper payment widget is built to simplify the payment process, accept more currencies and deliver higher approval rates, resulting in fewer declines and more revenue. Developed by Uphold, the web3 financial platform, Topper is a reliable, regulated and trusted payment system.About Uphold Named the Best Crypto Exchange in the UK by Forbes Advisor, Uphold is committed to making web3 easy. As a web3 financial platform, Uphold serves over 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to digital assets and services. Uphold’s unique “Anything to Anything” interface gives end users seamless access to and between digital assets and national currencies and precious metals. Uniquely, Uphold smart routes orders across 30 trading venues delivering optimal execution and superior liquidity to customers. Uphold never loans out customer assets and is always 100% reserved. The company has pioneered radical transparency and uniquely publishes its assets and liabilities every 30 seconds on a public website (https://uphold.com/en-us/transparency).Uphold is regulated in the U.S. by FinCen and State regulators. The company is registered in the UK and Canada with the FCA and FINTRAC respectively and in Europe with the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. To learn more about Uphold’s products and services, visit uphold.com.ContactPR ManagerLauren BukoskeySerotoninlauren@serotonin.coThis article was originally published on Chainwire More