Cryptocurrency

The decentralized autonomous organization behind the Mythos blockchain is set to bring over 5 million players to the Polkadot ecosystem, Investing.com has learned. Under the partnership, tokens will be swapped between the Polkadot community treasury and the Mythos treasury.  Specifically, 1,000,000 DOT will be exchanged for 15,000,000 MYTH tokens. The proposal details the distribution of MYTH tokens, with 10,000,000 tokens allocated directly to DOT holders who hold between 10 and 5,000 DOT. The remaining 5,000,000 MYTH tokens will be used for incentives and grants for ecosystem partners, such as Polkadot exchanges and DEXs. Any tokens not used by September 2024 will be returned to the Polkadot community.As part of this partnership, the Mythos Chain will migrate to the Polkadot ecosystem as a parachain. This move will leverage Polkadot’s flexible EVM module, ensuring address compatibility with the EVM and allowing developers to leverage the WebAssembly-based Substrate framework. The migration will also enable MYTH to benefit from Polkadot’s advanced cross-chain functionality, including native XCM and decentralized bridges like Snowbridge.This transition will see over 750,000 existing active wallets on the Mythos Chain, along with the broader user base of over 5 million, integrated into the Polkadot ecosystem. As a result, Polkadot will become one of the largest blockchain ecosystems for gaming. This migration is expected to pave the way for other projects to take advantage of Polkadot’s benefits.John Linden, CEO of Mythical Games, commented on the partnership: “Mythos has formed a groundbreaking, transformative partnership with Polkadot, which is set to immensely benefit both blockchain ecosystems, as well as the entire Web3 gaming community. As a result of this new partnership, I expect Mythos will continue to grow immensely thanks to the impressive technological and community bases of the two collaborative ecosystems.”Led by gaming industry veterans, Mythical Games builds games around player-owned economies and has been involved in developing major franchises like Call of Duty, World of Warcraft, Marvel Strike Force, and Skylanders.The Mythical Platform provides both custodial and non-custodial gaming wallets for digital items. This setup protects gamers who are new to blockchain while allowing advanced players to link their own wallets through bridges between the Mythical Chain and public mainnets. More

LONDON (Reuters) – Global venture capital investment in crypto companies rose to $2.4 billion in the first three months of 2024, data showed on Monday, in a tentative sign that investor interest is returning.Crypto venture capital flows peaked at $11.1 billion in the first quarter of 2022, before seven consecutive quarters of declining volumes, with just $1.7 billion in the last quarter of 2023, data from PitchBook showed.”The crypto industry is still in its early stages, and there is a lot of room for growth and innovation,” PitchBook senior analyst Robert Le said in a report.”Barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year,” he added.A combination of low interest rates and high risk appetite had fuelled the crypto industry to explosive growth in 2020 and 2021, but a series of bankruptcies at major crypto firms in 2022 spooked investors and sent the price of bitcoin plummeting.Investors who had backed U.S. exchange FTX were forced to write down their investments to zero, while millions of people were left out of pocket as various crypto platforms stopped allowing withdrawals.Over the last year, some investors have become more confident about crypto, helped by U.S. regulators at the start of 2024 approving exchange-traded funds tracking bitcoin’s spot price. Bitcoin has steadily recovered from 2022’s lows, hitting a fresh all-time high of $73,803.25 in March – although it has since struggled for direction. More

Saylor’s statement comes at a pivotal moment for Bitcoin. After significant price movements, the world’s biggest cryptocurrency is seeing unusual calm.In a recent tweet, Saylor reinforced his unwavering confidence in Bitcoin, saying to “bet” on the digital asset despite the current price pause. This bold proclamation is not out of character for Saylor, who has consistently championed Bitcoin as a superior store of value and a hedge against inflation.MicroStrategy, under Saylor’s leadership, has been at the forefront of corporate investment in Bitcoin. The company’s aggressive acquisition strategy has seen it amass a substantial Bitcoin portfolio, making it one of the largest institutional holders of the cryptocurrency. Saylor’s latest message “Bet on Bitcoin” might be a reaffirmation of his belief in Bitcoin’s long-term potential.The timing of Saylor’s statement is noteworthy as it coincides with a broader market sentiment that is cautiously optimistic.On Friday, the price of Bitcoin (BTC) rose above $67,000 for the first time in nearly a month, as bulls emerged after eight weeks of sideways to lower movement. Following this feat, the Bitcoin price has shown relatively little movement, failing to reach $68,000 as bulls take a little respite.Bitcoin was trading up 0.06% in the last 24 hours to $67,007, having reached intraday highs of $67,701. Bitcoin is still up 10% over the last seven days. As the market watches and waits for Bitcoin’s next move, Saylor’s voice serves as a bullish counterweight, encouraging crypto holders to remain firm in their beliefs.This article was originally published on U.Today More

Peter Schiff, a prominent precious metals advocate and cryptocurrency critic, dismissed the significance of Bitcoin’s recovery. He noted that silver has gained more than 21% since the beginning of April, compared to cryptocurrency’s modest gain of less than 2% over the same period. Schiff argued that silver offers higher returns and declared Bitcoin a failed investment, saying that it is “dead.”Veteran trader Peter Brandt responded to Schiff’s comments by advising the public to ignore them. Brandt, who is known for his analysis of Bitcoin and Ethereum, suggested that Schiff’s statements were aimed at attracting attention rather than truly understanding the situation.In response, Schiff said that his views on cryptocurrency are sincere. He warned of the high risks associated with investing in Bitcoin, calling it a speculative asset with no intrinsic value. Schiff believes that many investors could suffer significant losses by betting on what he calls an “imaginary horse.”This public disagreement between Schiff and Brandt underscores the ongoing debate in the financial community about the future of cryptocurrency. As Bitcoin continues to rally and show potential for significant gains, opinions remain sharply divided.Which side will win in the long run? Will Bitcoin prove its skeptics wrong, or will traditional assets like silver offer more reliable returns?This article was originally published on U.Today More

According to Arkham Intelligence, while attempting to sacrifice an ordinal for the PUPS token, an unknown user made a costly mistake by accidentally sending almost their entire wallet balance — over $7,000 in BTC — to one of Satoshi Nakamoto’s addresses.PUPS, a meme coin on Bitcoin with the logo of a puppet monkey wearing a hat, is a Bitcoin trading token that follows the BRC-20 standard. The token conducted a successful BRC-20 token airdrop on Bitcoin and is inscribed into the blockchain through Ordinals.Bitcoin creator Satoshi Nakamoto has remained anonymous since the publication of the Bitcoin whitepaper in 2008 and the subsequent launch of the Bitcoin network in 2009. The addresses known to be associated with Satoshi hold significant amounts of BTC, which have remained untouched for years.The recent transfer inadvertently made to one of these addresses has reignited discussions about Satoshi Nakamoto’s identity and the fate of the Bitcoin stored in these wallets. However, there is no indication that the BTC sent in this incident will be accessed or moved, maintaining the status quo of the dormant addresses.The reaction from the crypto community has been a mix of sympathy and astonishment. On one hand, there’s a cringe at the thought of such a substantial amount of money being sent off without hope of return. At the time of writing, BTC was priced at $67,000, thus the BTC stockpile would have been worth millions of dollars. On the other hand, there’s intrigue surrounding the address linked to Nakamoto, which has been dormant for years and rarely receives transactions.Anyway, it turns out that the recent incident underscores the importance of double-checking transaction details, especially in the crypto landscape where a single keystroke can have irreversible consequences.This article was originally published on U.Today More

In the meantime, the world’s flagship cryptocurrency reclaimed the $67,000 price line on Friday and then again recaptured it after a minor rebound that followed earlier today.The leading cryptocurrency becomes now widely considered as a store of value not only by Bitcoin maximalists, like Saylor and Max Keiser, but also by multiple financial institutions. Since the start of the year, the demand for Bitcoin has staggeringly increased thanks to the SEC regulator approving spot Bitcoin exchange-traded funds (ETFs).In the middle of January, the regulatory agency granted permission for these ETFs to start trading — 11 ETFs in total. Ten of them started an aggressive accumulation of Bitcoin since then, buying together roughly 10,000 BTC per day — that was 12x what miners could produce (900 BTC per day). As many experts pointed out, the ETFs created a demand shock. Many retail and institutional investors then followed suit and began to accumulate digital gold.In the second half of April, the Bitcoin community witnessed the fourth halving event, which reduced the production of new BTC by half. This, as many renowned Bitcoiners pointed out, created a supply shock.Grayscale has been seeing positive inflows for three days in a row. The largest single-day inflow on Friday was witnessed by Fidelity — that was $99.4 million in Bitcoin as this ETF outpaced BlackRock’s fund with its $38.1 million in Bitcoin coming in.This article was originally published on U.Today More

The first significant resistance level was around $63,000, where Bitcoin faced some consolidation but eventually pushed through. The next resistance was the 50 EMA, currently sitting near $65,000. BTC has managed to break above this level as well, indicating strong buying pressure and confidence among investors.The price action shows BTC trading above the 50, 100 and 200 EMAs, a bullish signal suggesting that the upward trend is likely to continue. The 100 EMA around $62,000 and the 200 EMA at approximately $60,000 now act as strong support levels. As long as Bitcoin remains above these moving averages, the bullish trend is intact.Looking ahead, the next major resistance level is around $70,000, which was the previous all-time high. If Bitcoin can break above this level, the path to $71,000 and beyond becomes much clearer. The volume analysis supports this bullish thesis, with increasing buying volume as BTC moves higher, indicating sustained interest and demand.The RSI is currently above 60, suggesting that BTC is in bullish territory but not yet overbought. This gives Bitcoin room to run further without immediate risk of a significant pullback.Despite the recent surge above $3,000, Ethereum is still facing significant resistance. The 100 EMA, currently around $3,060, and the 50 EMA, near $3,180, are critical levels that ETH needs to surpass for a sustained bullish trend. More importantly, those moving averages might converge in the foreseeable future, causing a volatility surge not many would expect.On the downside, if Ethereum fails to maintain its position above $3,000, it could retrace back to the support level at $2,800. This support is reinforced by the 200 EMA, which has historically acted as a strong foundation for ETH. A break below this level could signal a deeper correction, potentially dragging the price down to $2,500 or lower.The volume data shows mixed signals. While there has been an uptick in buying volume as ETH crossed the $3,000 mark, it is not as significant as one would hope for a strong bullish continuation. This suggests that while there is interest, it is not enough to guarantee a sustained uptrend without further confirmation.The price action shows XRP consolidating near the $0.52 mark, struggling to break through the resistance levels mentioned above. A successful breakout above these levels could potentially trigger a bullish run, pushing the price toward $0.60 and beyond. However, if XRP fails to break through, it might retrace to support levels around $0.50 or even lower.The volume data suggests a lack of significant buying power at the moment. For a breakout to be successful, XRP needs a surge in volume, indicating increased buying interest. Without this, the resistance levels might hold, preventing any upward movement.Additionally, the Relative Strength Index is currently around the neutral zone. This indicates that XRP is neither overbought nor oversold, giving it room to move in either direction. A rise in RSI above 60 could signal increased bullish momentum, supporting the potential breakout.This article was originally published on U.Today More

U.S. officials arrested Yicheng Zhang in Los Angeles on Thursday, according to an indictment unsealed in U.S. District Court in California’s central district later that day. Daren Li, a dual citizen of China and St. Kitts and Nevis, was arrested at the Atlanta airport in April. The U.S. accused the two of being involved in a type of cryptocurrency investment scam known as pig butchering, which has become a global billion-dollar industry.The defendants are alleged to have instructed co-conspirators to open U.S. bank accounts in the name of shell companies. Victims were induced online into depositing money into these accounts – funds that were then laundered through U.S. financial institutions to bank accounts in the Bahamas. “While fraud in the crypto markets takes on many forms and hides in many far-off places, its perpetrators aren’t beyond the law’s reach,” U.S. Deputy Attorney General Lisa Monaco said in a statement. Li and Zhang are both charged with conspiracy to commit money laundering and six counts of international money laundering. If convicted, the defendants face a maximum of 20 years in prison on each count, the Justice Department said. More