Cryptocurrency

Bitcoinwas trading at $65,393 at the time of writing, up 2.7% in the past 24 hours.Amidst this resurgence, crypto-related stocks also rose into the green territory in Monday’s premarket trading, with MicroStrategy (MSTR) and Marathon Digital (NASDAQ:MARA) leading the gains at +8.7% and +7.7%, respectively.Meanwhile, CleanSpark (NASDAQ:CLSK) jumped 5.6%, Riot Platforms (NASDAQ:RIOT) climbed 4.5%, and Coinbase (NASDAQ:COIN) added 3.6%.Bitcoin’s resurgence was primarily driven by weaker-than-expected nonfarm payroll data, which weighed on the US dollar while increasing the appeal for risk assets, including cryptocurrencies.Markets are now factoring in a greater likelihood of a 25-basis-point rate cut by the Federal Reserve in September, which would be a more favorable scenario for cryptocurrencies as they generally flourish in a low-interest, high-liquidity environment.While the cooling labor market adds momentum for the Fed to consider interest rate reductions, the recent payroll data follows five consecutive months of unexpectedly strong readings, and inflation remains above the central bank’s 2% annual target, keeping some pressure on the Fed. More

They were joined by the CEO of ShapeSchift Erik Voorhees and Nouriel Roubini, a professor of economics at NYU.Bitcoin proponents are attempting to reposition it as a digital version of gold, Schiff said. Still, in his view, it falls short of gold’s intrinsic value derived from its physical properties.“Bitcoin is no more digital gold than an image of a hamburger is digital food,” Schiff noted.He emphasized gold’s tangible utility in industries like jewelry and electronics, contrasting it with Bitcoin, which he believes lacks practical uses and utility.Regarding gold’s enduring value, Schiff asserted that it retains its intrinsic properties over time, serving as a genuine store of value. He also argued that the perceived value of Bitcoin is merely based on speculative demand and does not reflect any inherent usefulness or practical applications.He emphasized that Bitcoin, like gold, has a deflationary aspect due to its fixed supply. Scaramucci views Bitcoin as “digital gold,” noting its portability compared to physical gold.He also pointed that Bitcoin is following an adoption curve that will impact its value over decades, likening it to the trajectory of tech stocks that became standard over time and contributed to the S&P 500 index.Source: CoinMarketCapThis surge followed a cooler-than-expected U.S. April jobs report, which alleviated concerns about potential increases in interest rates.This article was originally published on U.Today More

This user paid this enormous fee to have their transfer included in an ordinary Bitcoin block. Some of these transactions have been recorded in the past. In September 2023, a Bitcoin user paid a transaction fee of 19 BTC. This was around the time when Bitcoin price was trading at $26,000, hence, the 19 BTC was equivalent to $509,563.Then again, in January, another BTC account paid over 4 BTC to have their transfer included in an ordinary Bitcoin block. The transaction was therefore charged with a whopping 1,800,890 sat/vB fee.It is worth noting that ordinarily transaction fees can fluctuate due to network congestion. It once reached as high as $60 during the 2017 cryptocurrency boom. Hence, this outrageous transaction fee recently recorded could be a result of a mistake or a misconfiguration in transaction software. It could also be potentially for reasons known only to the transaction initiator or even a possible money laundering scheme.This article was originally published on U.Today More

This tweet came out after the first Berkshire Hathaway shareholders meeting that took place earlier this week. For the first time since the company was founded, the meeting took place without Buffett’s right-hand man and vice president Charlie Munger. The latter passed away in November last year at the age of 99.Munger was and Buffett remains a persistent critic of Bitcoin, claiming that BTC is going nowhere. Once Buffett even referred to it as “rat poison squared.” However, last year, the primary cryptocurrency amazed the financial world by surpassing Berkshire Hathaway by the size of its market capitalization and leaving it far behind.At the time of this writing, Buffett company’s market cap stands at 862.05 billion, while Bitcoin already boasts $1,245,020,193,429.Saylor tweeted that he only hope he sees for the company legendary to the investment world is Bitcoin.In his tweet, Saylor hints that Warren Buffett should consider following in the footsteps of MicroStrategy. This company has been steadily buying BTC since the August of 2020. In April, the company purchased another 122 BTC lump with $7.8 million. This increased its overall holdings to 214,400 BTC evaluated at a whopping $13.22 billion on the balance sheet. Thanks to Bitcoin and the money raised from shareholders to buy more of it, MicroStrategy’s market capitalization now holds at $21.57 billion.Over the last 24 hours, Bitcoin has managed to stage a recovery of almost 7% as it suddenly rose from the $59,000 price tag to $63,190 where it is changing hands as of this writing.This article was originally published on U.Today More

This article was originally published on U.Today More

Penguiana, a new meme entrant on the Solana blockchain also looking to release a penguin-themed play-to-earn game later this year, has launched its much-anticipated $PENGU presale. Within two hours of going live, the penguin-themed play-to-earn game has raised almost 300 SOL. The 31-day presale period has officially begun, offering early adopters the chance to be part of $PENGU by visiting the Penguiana website.What is Penguiana?Penguiana is more than just a meme coin; it’s also building a vibrant play-to-earn platform inspired by the charm and charisma of penguins. The project aims to engage users within the crypto ecosystem, particularly those who have a penchant for meme coins.With the Solana blockchain’s fast processing speeds and low transaction fees, Penguiana is positioned to leverage these advantages to offer a compelling and rewarding experience to its community.A Novel Approach to Meme Coin PresalesPenguiana’s presale process is designed to ensure ease of participation and security for all investors. Participants are required to send SOL tokens to a designated presale wallet address to secure their $PENGU tokens, which will be airdropped to their wallets once the presale concludes.Users must confirm the authenticity of the wallet address and the website URL (penguiana.com) before initiating any transfers. This ensures that their contributions are secure and that they are participating in the official presale.To participate, prospective contributors should use a private wallet like Phantom, Solflare & Trust Wallet compatible with Solana. It is important to note that tokens sent from centralized exchanges such as Binance, Coinbase (NASDAQ:COIN), or Crypto.com will not be eligible for the $PENGU airdrop.For detailed instructions on how to engage in the presale, potential investors can refer to the guide provided on the Penguiana presale webpage. There is also a guide on how to acquire the $PENGU tokens.Stay Connected with PenguianaTo keep up with all the updates and partnership announcements, Penguiana invites users to join its vibrant community on Telegram and Discord.These platforms serve as the primary channels for real-time information and community engagement.About PenguianaPenguiana is a groundbreaking meme coin project launched on the Solana blockchain, inspired by the playful spirit of penguins. This project combines the fun of meme culture with the excitement of a play-to-earn blockchain game, offering both entertainment and investment potential.Users Can Stay Up to Date By Following Penguiana On Social MediaWebsite: https://penguiana.com/X: https://twitter.com/penguinaonsolTelegram: https://t.me/penguianaContactTeam LeadZan KowalskiPenguianacontact@penguiana.comThis article was originally published on Chainwire More

Protocol launches, growth trajectory, and industry-leading technology point toward more success to comeOn the first anniversary of Sui’s Mainnet launch, the Sui community is celebrating a landmark year that saw it rise from a nascent ecosystem to the top tier of Layer 1 blockchains, amassing household name partners and shipping multiple technology breakthroughs in the process. In the build-up to its launch in 2023, the chatter around Sui reached a level of excitement that has not been matched by any chain that has launched since. The first anniversary of Sui represents a culmination of the remarkable milestones achieved by the network in its first year.While centralized institutions face growing public distrust due to decades of anti-competitive and anti-consumer behavior and legacy blockchains lack the speed and technology to solve the problem, in a single year, Sui has emerged as the decentralized solution most capable of disrupting the status quo at scale. The innovations of Sui begin with Sui’s novel programming language, Move, which was created by Mysten Labs Co-founder and CTO Sam Blackshear. Move introduced a new architecture centered around objects, enabling performance and functionality that was simply not available on existing blockchains. The result is a blockchain that is singular in the industry — the universal coordination layer for intelligent assets.The results Sui has achieved have validated the team’s approach. In addition to not experiencing a single minute of downtime or instance of degraded performance since Mainnet launch, in the last 12 months, Sui has achieved:Sui has also introduced unique implementations of technologies that make adoption easier and make the blockchain accessible to mainstream users, both at the enterprise and retail levels. zkLogin is on-chain authorization with traditional OAuth providers like Google (NASDAQ:GOOGL) and Twitter, allowing all users to directly operate on-chain with the single sign-on process they have become accustomed to, removing the hurdle of managing wallet addresses and seed phrases. zkSend is an application exclusive to Sui that utilizes zkLogin to enable users to send and claim tokens simply by sharing or clicking a link. Sponsored transactions, enabled by Sui’s extremely low fees, empower builders to remove a final hurdle for engagement. Finally, Enoki, which was announced at Sui Basecamp, removes requirements for enterprises looking to incorporate blockchain technology with a turnkey solution that gives them access to build seamlessly on Sui.Also owing to the strength of the network and especially notable for an ecosystem so early in its development, Sui has quickly become one of the preeminent destinations for DeFi activity. Within 9 months of its Mainnet launch, Sui ranked in the Top 10 of all blockchains in TVL. A month later, Sui’s DEX volume also achieved top 10 status. Throughout, Wormhole stats show Sui as a top destination for bridging from Ethereum, including over a 30-day period where Sui saw more inflows than all other blockchains combined, and more than twice as much as the next closest blockchain. In each of these cases, Sui eclipsed numerous well-known networks that have existed for far longer.Builders and enterprises integrating with Sui are also adding to the growing momentum. Bluefin, a derivatives exchange that had already executed billions in transaction volume in its first iteration on another chain, shut that integration down to build on Sui. Solend, a leading lending protocol on Solana, chose Sui for its first integration beyond its initial network, launching the Suilend protocol which has already amassed over $30M TVL. Additionally, First Digital Labs, creator of FDUSD, the fastest-growing stablecoin in crypto with over $4B in market cap, chose Sui for its first expansion since its launch on Ethereum and BNB.Other notable ecosystem partnerships achieved in Sui’s first year include those with Alibaba (NYSE:BABA) Cloud and Google Cloud, which focused on enhancing security, scalability, developer tools and user experiences across a range of Web 3.0 and AI-powered applications. BytePlus, the web3 arm of ByteDance, partnered with Sui ecosystem partner Mysten Labs to explore collaboration on data warehousing, AI recommendation algorithms, and AI visual algorithms in web3 game platforms and socialFi projects on Sui. The crowds that gathered for Sui Basecamp 2024 represented the culmination of Sui’s arrival, as over 1,000 projects, partners, investors and enthusiasts from 65 countries around the world came to Paris in April to celebrate Sui at the vaunted Layer 1’s inaugural global conference.ContactSui Foundationmedia@sui.ioThis article was originally published on Chainwire More

As of the latest data from CoinMarketCap, Bitcoin is currently trading at $60,128, marking a 2.29% increase over the past 24 hours. The recovery follows a period of intense volatility that saw the world’s largest cryptocurrency experiencing a sharp correction earlier in the week.CryptoQuant, a leading on-chain analytics platform, recently shared insights suggesting a possible short-term rebound for the BTC price. According to its analysis, the movements of short-term investors hold significant sway over Bitcoin’s price fluctuations.The analysis suggests that during bull runs, a short-term rebound often coincides with the short-term SOPR reaching the bottom of the Bollinger Band. Notably, amid the current market adjustment, sentiment among general investors has been subdued, leading to a cooling down of overheated conditions.Consequently, experts anticipate a rebound in Bitcoin’s price following this adjustment period. While short-term fluctuations are inevitable in the world of cryptocurrencies, many experts believe that Bitcoin’s underlying fundamentals and the broader macroeconomic landscape bode well for its future trajectory.Moreover, there is optimism about the long-term prospects of Bitcoin and other digital assets. Growing institutional adoption, mainstream acceptance and the increasing integration of blockchain technology across various sectors show the underlying strength of the ecosystem.This article was originally published on U.Today More