Cryptocurrency

Broader crypto prices were also largely subdued, as traders remained biased towards the dollar amid waning optimism over interest rate cuts by the Federal Reserve this year.Bitcoin was down 1.2% in the past 24 hours to $68,354.5 by 07:49 ET (11:49 GMT), remaining within a trading range established over the past two months. But world no. 2 token Ether was trading near two month highs, up 2.2% to $3,897.5. The world’s second-largest crypto token saw a major boost over the weekend after the Securities and Exchange Commission approved applications from several major exchanges for the listing of ETFs that directly track the price of Ether. The approval now opens the door for the SEC to engage with fund operators including VanEck, ARK Investment Management and seven other issuers who have applied to list their spot Ether ETFs.Analysts expect the approval of spot ETFs to trigger a sharp rally in Ether, similar to one seen in Bitcoin after the approval of spot Bitcoin ETFs earlier this year. But Bitcoin has largely tread water in recent months after initial enthusiasm over the ETFs ran dry. Capital flows into Bitcoin ETFs were also seen stagnating in recent weeks. Fears of high for longer U.S. interest rates were a key point of pressure on crypto markets in recent weeks, especially after a string of Federal Reserve officials warned that sticky inflation will delay any plans to cut rates. This notion kept price moves in altcoins largely muted with XRP moving lower while SOL pushed higher.Meme token DOGE shed 1.6% while SHIB was up around 3%.Focus this week is squarely on PCE price index data- the Fed’s preferred inflation gauge.The reading is widely expected to factor into expectations for interest rates.Still, traders were seen largely pricing out bets on a rate cut in September, according to the CME Fedwatch tool. More

In a post on Truth Social shared shortly before his scheduled appearance at the Libertarian National Convention, the leading 2024 Republican candidate wrote: “I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field.” Trump asserted his support in his familiar capitalized letters. “There is no second place,” he added, contrasting his stance with President Biden’s, whom he accused of wanting the crypto industry to “die a slow and painful death.”The announcement highlights Trump’s message that he’s a crypto-friendly candidate and targets a core group of young male voters who are getting into digital assets. This came as Trump’s defense team rested in his hush money case in New York.Moreover, Trump’s campaign has set up a fundraising page that lets eligible donors contribute to its political committees using any cryptocurrency supported by the Coinbase (NASDAQ:COIN) exchange, in an effort to create a “crypto army” in the run-up to Election Day.Trump’s latest comments indicate a major change from his earlier doubts about cryptocurrencies. In a 2021 interview with Fox Business, Trump stated, “The currency of this world should be the dollar. And I don’t think we should have all of the Bitcoins of the world out there. I think they should regulate them very, very high.”However, Trump’s views on crypto appear to have evolved, especially following the success of his Trump-branded NFT trading cards. These NFTs, including the “Mugshot Edition NFTs,” offered holders unique perks such as the chance to dine with Trump after a trial date. Trump’s comments also come just before his speech at the Libertarian National Convention, where he needs to draw voters away from third-party candidate Robert F. Kennedy Jr., who is known for his pro-crypto and anti-regulation views.  More

HashKey Global announced the launch of LaunchPool and initiated the first project Polyhedra Network（ZK) pledge to earn campaign, aiming to create a new trading and participation model, enhance user engagement and loyalty, and provide a platform for promotion and development for emerging projects.HashKey Global’s Launchpool platform offers users an alternative cryptocurrency pledging solution. Users may pledge their existing cryptocurrencies to the pool and may redeem tokens at any time, adjusting their investment strategy flexibly to adapt to market changes. This platform not only provides projects with the opportunity for initial token distribution, enhancing their visibility, but also allows investors early access to innovative projects and potentially earning rewards through pledging.As the flagship global digital asset exchange under HashKey Group, HashKey Global provides licensed digital asset trading services to users worldwide (save for restricted countries and regions). HashKey Global has been granted a license from the Bermuda Monetary Authority (BMA). HashKey Global Launchpool is the first platform of its kind among globally licensed exchanges to offer pledging for new coins. HashKey Global’s Launchpool platform provides investor asset protection and compliance measures such as AML, KYC, and KYT.In recent times, Ethereum assets have gained further recognition in the market, with significant progress also seen in Ethereum Layer 2 networks such as Taiko, zkSync, Scroll, among others. HashKey Global Launchpool has launched its first project, Polyhedra Network (ZK), a star project based on zero-knowledge proofs interoperability protocol. It provides users with approximately 325,000 ZK tokens, valued at around $500,000 USDT in total, as rewards. The event runs from May 30th to June 4th, 2024.For more details users can visit: https://support.global.hashkey.com/hc/en-us/articles/14133227056796-Introducing-1st-HashKey-Launchpool-Polyhedra-Network-ZK-Stake-USDT-to-Earn-from-325-000-ZK-Prize-PoolAbout HashKey GlobalHashKey Global is one of the flagship global digital asset exchanges under HashKey Group, offering licensed digital asset trading services to users worldwide. HashKey Global has obtained a license from the Bermuda Monetary Authority with the potential to provide mainstream trading and service products such as LaunchPad, contracts and leverage trading.For more details, users can visit global.hashkey.comUsers can follow HashKey Global on Twitter, Discord and Instagram.Disclaimer: In compliance with local regulations, HashKey Global does not offer services to individuals in the United States, mainland China, Hong Kong, and certain restricted countries or regions. This material is for informational purposes only and is not intended to be distributed or relied upon by individuals in Hong Kong. This material does not constitute an offer to buy or sell any financial products, nor should it be considered as investment advice. Investing in digital assets involves risks. Investors should not make investment decisions based solely on this press release, but should carefully evaluate their suitability to participate in any investment products based on their own investment experience, investment objectives, financial situation, and other relevant conditions.ContactSenior PR ManagerLunaHashKey [email protected] article was originally published on Chainwire More

From this heat map, clearly, liquidity builds around the prices of $68,300 and $69,800. These correspond to areas where strong buying and selling pressure is focused, making them pivotal for Bitcoin’s next moves. Of course, at the current price levels of $69,000, these could easily act as really strong support and resistance zones that will drive the path of Bitcoin for days to come.Technically, this is a channel in which Bitcoin has traded, with the 50-day moving average used as good support around the $65,000 area. The RSI above 50 indicates that the bulls have a small advantage, but the market does not show overbuying signs. A balanced RSI points to room for Bitcoin to move in either direction.This is a very important level because the $68,000 area is a huge support. If price action falls right to that price area, that could actually bring in the buying pressure that supports the price from there. There is a lot of sound liquidity at that level, so it would indicate that a lot of traders have their buy orders set in just expectation of a bounce from that area.There is an important area of resistance around $69,800. Breaking above it would mean the beginning of an intensive purchasing flow and thus could lead Bitcoin to new highs. The stacking of liquidity at $69,800 signals that most of the sell-side volume is located there, and this is what Bitcoin has to chew through to keep grinding higher.Nonetheless, the general market sentiment around Bitcoin is still positive, considering the surge in institutional interest and rising adoption. In any case, the short-term view will entirely be a function of how Bitcoin behaves against these crucial levels. Either a bounce off the support of $68,000 or a break above $69,800 would set the stage for the next significant move.This article was originally published on U.Today More

On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled “Taproot Consensus: A Decentralized BTC Layer2 Solution.” This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin’s core code.I. History of Bitcoin’s Technical IterationsThe yellow paper begins by highlighting Bitcoin’s non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin’s existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.BEVM’s Taproot Consensus combines Bitcoin’s Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.III. Detailed Explanation of Taproot Consensus ArchitectureThe Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.· Schnorr+MAST: Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.· Bitcoin SPV: Allows synchronization and verification of Bitcoin transactions without running a full node.· Aura + Grandpa: Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network’s security and trustworthiness, with assets managed by BFT consensus.The operating principle of Taproot Consensus is: “In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system’s security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.”IV. Other Technical Details in the Yellow (OTC:YELLQ) Paper – True DecentralizationThe yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo’s underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.ConclusionThe BEVM team’s technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin’s original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.About BEVMBEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin’s utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.For more information, users can visit BEVm’s official website or follow BEVM on [email protected] article was originally published on Chainwire More

A new Ethereum-based meme coin, “Book Of South Park” (BOSP), has officially launched following three months of community contributions and AI-inspired animations. This token, which pays homage to the iconic animated series “South Park,” aims to make a significant impact in the meme coin sector.In a groundbreaking move that merges the worlds of cryptocurrency and pop culture, there has just emerged the official launch of the “Book of South Park” meme token ($BOSP), a meme-inspired token paying homage to the legendary animated adult adventure series, South Park.With no predetermined hard cap and a three-phase staged pre-sale, with incremental price increases at each stage, the early bird is surely going to catch the worm.With a limited total fixed supply of only 10 billion, stage 1 is set to start at $0.0005 USD. $BOSP has set its sights fairly and squarely on becoming the crypto ecosystems next big project.BOSP is a unique Ethereum-based token that pays homage to the legendary animated series “South Park.” The token’s launch features a three-phase staged pre-sale with incremental price increases at each stage, encouraging early participation. The total fixed supply of BOSP is limited to 10 billion tokens, with stage 1 starting at $0.0005 USD.The storyline behind BOSP is designed to resonate with fans and investors alike. Set in the quiet mountain town of South Park, Colorado, it follows a group of four friends who stumble upon a mysterious book during one of their misadventures. This ancient tome, known as the “Book Of South Park” ($BOSP), contains the town’s secrets and untold stories. As the friends delve into the book, they discover it speaks of a hidden treasure that can only be unlocked through laughter and unity. They decide to share the Book Of South Park with the world, embarking on a journey filled with humor and camaraderie.At that moment, the $BOSP Token was born.Book of South Park ($BOSP) is not just another meme token. Drawing inspiration from the irreverent humour and social commentary of South Park, $BOSP aims to carve its own niche in the ever-evolving crypto landscape.At its core, $BOSP seeks to foster a community of like-minded individuals who share a unique passion for both digital tokens and the iconic series with a worldwide cult following. Through a decentralised network, BOSP provides a platform for fans to engage, transact and meme their way to financial prosperity, all while celebrating the wit and wisdom of South Park.$BOSP team states that the vision for Book of South Park goes beyond just creating another digital cryptocurrency. The team is building a vibrant ecosystem where fans can come together, express themselves, and participate in a movement that embodies the spirit of South Park – bold, irreverent, and unapologetically fun.To commemorate the launch of the “Book Of South Park” and in a crypto meme token first, $BOSP are having 5 unique and exclusive meme token / coins minted and given away to all qualified pre- sale contributors. This is a unique and rare opportunity in the history of meme coins.The launch will also include a series of activities and collaborations, designed to engage the community and offer exclusive rewards. Fans are encouraged to follow “Book Of South Park” on social media platforms like X and Telegram, or visit the official website for pre-sale information and updates.South Park fans should prepare themselves for an exciting journey into the world of cryptocurrency, infused with the show’s trademark sophomoric humor and incisive social commentary. It promises to be an engaging and thrilling experience.About Book Of South Park ($BOSP)”Book Of South Park” is an Ethereum-based meme token inspired by the popular animated series South Park. The project aims to build a decentralized community where fans can engage and participate in various activities while celebrating the show’s unique humor and commentary.Users cab follow the Book Of South Park on X or join its Telegram channel for up-to-date developments. Alternatively, visit the website to buy the in the pre-sale ContactMrSamBook Of South [email protected] article was originally published on Chainwire More

USDTlr.com is pleased to announce the successful launch of its new automated trading platform, which is now in the beta phase. This platform is designed to assist users in navigating the volatile market with no human intervention, streamlining the trading process. Without any human intervention, making the process seamless and efficient for users.The USDTlr automated trading system operates entirely on advanced algorithms and technology, ensuring precise and swift transactions. By removing the need for manual input, the platform aims to minimize errors and aims to provide a reliable investment experience for users.During this beta phase, USDTlr.com invites users to explore the platform and provide feedback. This feedback will be invaluable in refining and improving the system before the full launch. The team at USDTlr.com is committed to creating a user-friendly and secure environment for digital asset growth.For more information about the beta phase and how to participate, users can visit USDTlr.com .About USDTlr.comUSDTlr.com is dedicated to providing innovative solutions for digital asset investment. By leveraging cutting-edge technology, USDTlr.com aims to offer efficient and reliable services to help users grow their digital assets.ContactCEOMechouar, FaresUSDTBOOST [email protected] article was originally published on Chainwire More

In a tweet, Hoskinson posted a GIF image that captioned “I have been and will always be your friend,” to which he wrote, “Doge to Bitcoin.” The Cardano founder was responding to a post on the passing of Kabosu.Kabosu, the face of Dogecoin and the iconic “Doge” meme, left a paw print on the hearts of many. Her passing has been felt across the internet, uniting diverse communities in remembrance of the joy she brought to the world.The Japanese Shiba Inu inspired a generation of online jokes after her skeptical glance became a symbol of internet humor in 2010. The recent comment by the Cardano founder not only pays tribute to Kabosu’s legacy but also highlights the camaraderie that exists within the crypto space.The Cardano founder’s memetic statement would be essentially true considering the relationship between Dogecoin and Bitcoin.In 2013, two software programmers, Jackson Palmer and Billy Markus, were inspired by the simplicity of Bitcoin to create Dogecoin, a parody cryptocurrency.Given that DOGE was originally a joke copy of Bitcoin, and used a significant portion of Bitcoin’s source code, the two cryptocurrencies share a lot in common.For example, both Bitcoin and Dogecoin use a proof-of-work (PoW) consensus mechanism involving miners. Transactions on a proof-of-work blockchain are stored in blocks. Once a block is full, a group of devoted users regarded as miners start to validate it.However, several changes have been implemented throughout time, causing Dogecoin and Bitcoin to differ more than they might appear at first.This article was originally published on U.Today More