Cryptocurrency

Spot Cumulative Volume Delta (CVD) is the first thing to notice. On the spot market, this metric displays the total net buying or selling. In this instance, there is a growing spot buy delta, and the Spot CVD is leading with the price. According to this, the recent upswing in Bitcoin prices is being driven by the spot market. Put simply, as more people purchase Bitcoin on the spot market, the price rises.Perpetual contracts, on the other hand, provide a slightly different narrative. Futures traders may be feeling pessimistic as the Perp CVD is dropping more than the price. Furthermore, there is a rise in perp selling. This implies that while there is buying pressure on the spot market, the futures market is more likely to be selling.Buying on the spot market appears to be the primary driver of the recent price surge on Bitcoin. A rising Spot CVD in tandem with the price suggests a high level of buying interest.Negative futures market action: Notwithstanding the futures market (perps) exhibiting bearish sentiment, with a falling Perp CVD and growing selling pressure.The growing spot buy delta indicates that there may be buying momentum. If you are a spot trader looking to buy or hold Bitcoin, this might be encouraging.Futures market: The declining Perp CVD suggests bearish sentiment, which may indicate caution for those who trade futures. Selling is the prevailing trend on the futures market, which may cause price adjustments or higher volatility.This article was originally published on U.Today More

The lack of movement in the price has seriously annoyed traders and investors, and there has been a lot of talk about price manipulation. Adam Back, who is a contemporary of Bitcoin’s mysterious creator Satoshi Nakamoto, addressed these concerns in a recent discussion. Back suggested that the current price suppression could be down to certain sellers who urgently need cash and are offloading their Bitcoin holdings. He said that these sellers, who might not be willing or able to wait for higher prices, have a limited amount of BTC to sell. Once they have sold all their holdings, the market might start to move up again, says the developer. These comments match what a lot of people in the cryptocurrency community are feeling. Many think that things like institutional investors and trading platforms like ETFs and Coinbase (NASDAQ:COIN) might be influencing the market. The idea is that these entities, possibly in collaboration with official agencies, are trying to keep prices stable or suppressed for their own strategic advantage.This view lines up with how the price has moved historical, as there have often been periods of consolidation before big price surges.Summing up, while the current trading range and low volatility are testing the patience of market participants, Bitcoin’s price could break free from its current stagnation, potentially reaching new highs once the immediate liquidity needs of these sellers are met.This article was originally published on U.Today More

Crypto hacks are on pace for a record setting year in 2024, says Merkle Science, which is a cryptocurrency risk and intelligence platform.Hackers around the world are growing increasingly sophisticated, moving beyond smart contracts to target vulnerable areas such as private key leaks and insecure storage practices.Phishing attacks also remain popular, with crypto investors often being duped by fraudulent emails and addresses that look like legitimate ones.The Merkle Science report adds that hackers are searching out easier targets as smart contracts become more secure.Smart contract vulnerabilities had previously been among the most targeted cryptocurrency infrastructures by hackers, resulting in $2.6 billion U.S. of stolen digital tokens in 2022.At the end of 2023, about 55% of hacked crypto was due to private key leaks, said Merkle Science.Hackers have stepped up their attacks on cryptocurrency exchanges and wallets this year as prices for digital assets continue to rise.According to CoinMarketCap, the market capitalization of all cryptocurrencies has risen by 54% year-to-date as prices for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) reach all-time highs.This content was originally published by Yolowire.com More

Memeland sets sail for MemeDay, declaring a new tradition in Web3 Memeland, one of the largest and fastest growing Web3-focused venture studios, announces the inaugural celebration of the first-ever MemeDay on 6.9 (June 9th), a day set to celebrate and remind Web3 of the power of community.MemeDay is the vibrant fusion of meme and Web3 culture brought to you by the original Meme-sayers, 9GAG. Collectively, 9GAG and its Web3 project Memeland, have a combined audience of over 200 million people. As a community-focused brand, Memeland prioritizes its members while embracing the world of memes. Memes connect us, fostering humor and a sense of belonging, and on June 9th, MemeDay will serve as a Festival of Unity, honoring the power of laughter and shared values. Drawing inspiration from Web3’s annual Bitcoin Pizza Day, which marked a significant milestone in the cryptocurrency world, MemeDay has the same intentions—-to become an annual tradition for the Web3 community. This year’s celebrations will take place simultaneously at 10 different McDonald’s (NYSE:MCD) locations, creating a synchronized global event that celebrates all things memetic.In a nod to Web3 culture, the choice of McDonald’s as the venue for MemeDay symbolizes resilience and camaraderie. It humorously acknowledges market ups and downs while uniting our community. MemeDay is poised to become a landmark event, showcasing the harmonious blend of meme and Web3 culture, and celebrating laughter, creativity, and the spirit of the Memeland community.The impact of Memeland’s community goes beyond digital interactions. It’s about setting a new precedent in the Web3 world, where community-driven initiatives lead to meaningful, real-world interactions and traditions. As we approach MemeDay, Memeland is not just inviting participants; it’s calling on creators, thinkers, and dreamers to join in forging a new chapter in digital community culture.Those interested can join Memeland on June 9th as history is made, one meme at a time. Event Details and Meetup Links:Memeland, one of the largest and fastest growing Web3-focused venture studios, is on a mission to empower communities around the globe. Originating from the team that established 9GAG, Memeland is dedicated to building and investing in social products that foster community engagement. By bridging the gap between creators and communities through creativity, $MEME, and NFTs, they are setting a new standard in community ownership.The story of Memeland is rooted in the humble beginnings of 9GAG, which was founded in 2008 and became the first Asian YC company. Over a decade later, 9GAG has emerged as a global platform with an audience of 200 million across various social media channels. Memeland stands as a beacon for community empowerment, where ownership is democratized and creators are connected.ContactSenior PR ManagerRyleigh EbronSerotoninryleigh@serotonin.coThis article was originally published on Chainwire More

Bitcoin rose 1% in the past 24 hours to $71,878.6 by 08:22 ET (12:22 GMT). The token was set to add over 5% this week after it broke out of a $60,000 to $70,000 trading range established since mid-March. Bitcoin and broader crypto prices were boosted by growing expectations that the Fed will begin cutting interest rates by September. A slew of weak U.S. economic readings supported this notion, as traders bet that a cooling U.S. economy will give the Fed more confidence to loosen monetary policy. The dollar tumbled this week, also benefiting risk-driven assets. The readings came ahead of key nonfarm payrolls data, which is due later on Friday and is expected to offer more definitive cues on the labor market and interest rates. Looser monetary conditions bode well for risk-heavy, speculative assets such as cryptocurrencies, given that they free up more capital that can be then directed towards speculative plays into crypto.Bitcoin was trading less than $3,000 below a record high, as expectations of lower rates spurred a heavy dose of institutional capital flows into exchange-traded funds linked to the cryptocurrency. Hype over the approval of spot Bitcoin ETFs for U.S. markets was a key factor behind the cryptocurrency’s run to record highs earlier this year. Analysts said that the prospect of lower rates could spark another record high rally for the token in the near-term. Bitcoin could be on the verge of climbing to $83,000 as it completes a significant bullish pattern on the daily chart, according to technical analysis at 10x Research.A move above $72,000 would confirm a breakout from an inverted head-and-shoulders pattern, which features three price troughs, with the middle one being the deepest.”It is only a matter of time until bitcoin makes a new all-time high,” said 10x Research analysts in a note seen by Coindesk.“The head-and-shoulders formation suggests a rally towards 83,000 soon, with the resistance line likely broken within the next few days. The ideal time for this resistance to break is either today, Friday, June 7, or next week, Wednesday, June 12,” they added.According to technical analysis principles, the inverted head-and-shoulders pattern typically appears after a downtrend and signals an upward trend reversal following a breakout. This pattern is uncommon in an already upward-trending market, signaling a bullish continuation.The breakout above $72,000 in part depends on the non-farm payrolls report.Among broader crypto markets, major altcoins also kept to a tight trading range on Friday, in anticipation of more cues on U.S. rates.But most tokens were set for some weekly gains, amid expectations of lower rates and as optimism over a spot Ether ETF persisted. World no.2 token Ether fell 0.35% to $3,831.72 and was trading nearly flat for the week.Altcoins XRP, SOL and ADA saw minor gains, while ADA added 5.5% on Friday.Among memetokens, SHIB and DOGE fell more than 1% each. More

DeFi.Gold, a leading decentralized exchange (DEX) and NFT marketplace on the Bitcoin blockchain, announces a strategic alliance with Babylonchain. This integration, available by Q4 2024, will allow DeFi.Gold users to stake Bitcoin (BTC) and earn native yields on other blockchains supported by Babylon, directly on the DeFi.Gold DEX.This integration allows users to benefit from DeFi.Gold’s scalability and efficiency while earning altcoin yields, opening new avenues for producing yields and enhancing ecosystem security.”We are thrilled to join forces with Babylon. This integration enhances our platform’s capabilities, offering our users new opportunities for participating in staking yields on many networks with BTC while contributing to their network security.” – Mona Coyle, CEO of DG Labs Ltd. The platform integrates with major Bitcoin web wallets and supports Lightning Network transactions for fast, low-cost operations. DGOLD, the governance token, empowers community-led decisions, driving innovation in decentralized finance on the Bitcoin blockchain.Babylon’s mission is to scale Bitcoin to secure the decentralized world. To achieve this, Babylon utilizes the three primary facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant blockspace in the world. To leverage these facets, Babylon is developing three innovative security-sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol. Through these pioneering protocols, Babylon envisions a more secure and decentralized future.Email: info@defi.goldWebsite: www.defi.goldX: https://x.com/TeamDefiGoldFor Babylonchain:Email:swood@babylonchain.ioWebsite: www.babylonchain.ioX: https://x.com/babylon_chainThis press release contains forward-looking statements based on current management expectations. These statements are not guarantees of future performance and involve risks and uncertainties. DeFi.Gold assumes no obligation to update these statements.ContactCEOMona Coyleinfo@defi.goldThis article was originally published on Chainwire More

BEVM has announced a new incentive program, the BEVM Visionary Builders (BVB), following its recent partnership with Binance wallet for an airdrop event.Introduction to BEVM Visionary BuildersLaunched by BEVM, the “Visionary Builders” ecosystem incentive program aims to promote the development of 17 tracks, including DEXs, lending, stablecoins, and more. Through community participation and multi-dimensional evaluation, the program will provide rewards totaling $60 million to outstanding projects and users.The program also introduces an on-chain community voting mechanism. Participating project teams can demonstrate their active user base through on-chain voting, which is a crucial dimension for project evaluation. Users participating in on-chain voting will not only receive airdrops of ORDINALS•RUNE but also BEVM tokens.Currently, the Visionary Builders program is open for applications. Interested project teams can fill out the form in the Ecosystem section of the BEVM website or directly apply through this link: BEVM Visionary Builders Application Form The application process for the Visionary Builders program is as follows:BEVM will provide $60 million worth of assets to reward ecosystem projects and voting users participating in the BVB program. The actual value of the rewards will “rise with the tide” as BEVM develops. The distribution is planned as follows:1. Genesis BoxThe Genesis Box (GBX) is an early-stage BEVM ecosystem asset used to reward users who supported the project during the mainnet launch. Holders can open the Genesis Box to randomly earn between 500 and 1,500 ECO scores based on their on-chain activity, but the Genesis Box will be consumed upon opening. 2. Inviting UsersUsers who enter the voting page using an invitation code (the invitee) will receive a 5% score boost. For every vote the invitee casts, the inviter will earn 5% of the score. 3. VotingAfter earning scores, users can vote for their favorite protocols on the voting page. Each vote earns 100 scores, and there will be a corresponding leaderboard.Each month, BEVM will regularly announce the ecosystem projects that have earned the “Visionary Builders” title and execute the corresponding incentive plan. This transparent and fair reward mechanism ensures that every participant’s efforts are rewarded accordingly.BEVM Visionary Builders: The Engine of the Bitcoin EcosystemThe BVB program is not only an activity to vitalize the ecosystem but also a strategic move by BEVM to promote the prosperity and development of its ecosystem. This program carries profound significance, as it not only brings new opportunities for BEVM but also provides valuable insights for the entire cryptocurrency industry.In the cryptocurrency industry, technological innovation, market potential, and community engagement are crucial factors in determining a project’s success. By utilizing multi-dimensional evaluation and on-chain community voting, BEVM can not only discover and support projects with the greatest potential but also mobilize community participation. Through market potential assessment, BEVM can identify projects that truly have the potential to reshape the industry landscape and drive the prosperity of the entire ecosystem.According to current estimates, BEVM is investing $60 million worth of assets into this program, which is a massive reward rarely seen in the industry. By introducing on-chain voting and multi-dimensional evaluation mechanisms, BEVM ensures that every project and user receives rewards commensurate with their contributions.Incorporating a community voting mechanism makes BEVM’s governance more decentralized and democratic. In the cryptocurrency industry, decentralized governance is key to enhancing project transparency and credibility. Community users directly participate in project selection through voting, not only increasing their sense of involvement but also ensuring fairness and transparency.In the BVB program, BEVM will provide comprehensive technical support to the selected projects, helping them solve technical challenges and enhance their technical capabilities. Additionally, BEVM will leverage various marketing strategies to increase the visibility and influence of the selected projects. Furthermore, BEVM will collaborate with investment institutions like Bitmain, Waterdrip Capital, Satoshi Labs, and exchanges to establish an acceleration fund focused on the BEVM ecosystem, investing in outstanding projects within the ecosystem.About The Visionary Builders ProgramThe launch of the BEVM Visionary Builders program demonstrates BEVM’s determination to build a thriving ecosystem. As the program progresses, BEVM is poised to attract more outstanding projects and users to join its ecosystem, further promoting its prosperity and injecting new vitality into the expansion and application of the Bitcoin Layer 2 network.ContactbrandBEVMbrand@bevm.ioThis article was originally published on Chainwire More

A sustained price rally for Bitcoin is anticipated given the improving conditions for the growth of its demand. Numerous reasons contribute to this demand rebound, including:Growth in large investors and permanent holders: Traders are seeing a quicker increase in the combined balances of large investors and permanent holders. The conviction among long-term holders of Bitcoin is most likely rising.$1 billion daily inflows: Every day, significant new Bitcoin investors are putting in $1 billion. This substantial investment demonstrates how prominent market participants are becoming more interested in and confident about Bitcoin.Increase in Bitcoin purchases from spot ETFs in the USA: The demand for Bitcoin has increased as a result of the USA’s spot Bitcoin ETF approval and increased activity. This new investment channel increases demand by giving investors a more convenient way to gain exposure to Bitcoin.Furthermore, traders have exhausted themselves on the market through heavy selling. The unrealized profit ratio resetting to 0% indicates that there may be less selling pressure now, signaling the start of a new phase of accumulation.Additionally, since May 20, when spot ETH ETFs were approved in the USA, Ethereum has experienced a surge in demand. Long-term Ethereum holders and major investors have both increased their ETH purchases, indicating a similar trend of growing confidence in Ethereum in addition to Bitcoin.The growth trajectory of stablecoin liquidity has not yet been restored, notwithstanding encouraging indications for both Bitcoin and Ethereum.This article was originally published on U.Today More