Cryptocurrency

In a May 8 filing in the United States Bankruptcy Court for the District of Delaware, Bittrex estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities as part of bankruptcy proceedings. The bankruptcy covered its Seattle-based entity Bittrex, Inc, two Bittrex entities in Malta and an affiliated entity Desolation Holdings LLC.Continue Reading on Coin Telegraph More

The funds were spread out among 16 separate transactions and included approximately 337.9 million Mask Network (MASK) tokens (worth $1.3 million), as well as $57.77 million worth of the Tether (USDT) stablecoin. Continue Reading on Coin Telegraph More

Solana Labs announced the release of Saga, its flagship Android phone, on Tuesday. Per Solana Labs, the smartphone has been designed to bring blockchain technology to users worldwide and is now available for purchase and shipping to several countries, including the U.S., Canada, EU, United Kingdom, Switzerland, Australia, and New Zealand. Solana Lab’s official Twitter account tweeted:The Saga smartphone comes with Seed Vault, a secure self-custody solution that protects users’ keys through biometric authentication and encryption. Additionally, users can access decentralized apps (DApps) through the Solana DApp Store without needing to sign transactions through a desktop web browser.The smartphone also includes the Saga Genesis token, a unique device-bound non-transferable NFT that unlocks exclusive content and offers from Solana Mobile and DApps listed on the Solana DApp Store. According to Solana Labs, this token serves as a key to Saga Rewards, providing users with an enhanced experience and the ability to explore web3 immediately.Early reviews of the Saga phone have been positive, with users praising its intuitive and secure design, deep integration with the Solana blockchain, and the innovative Seed Vault feature.The announcement added that pre-order shipments have already begun, and Solana Labs plans to expand its shipping range to cover more countries in the near future. The blockchain firm is confident that Saga will revolutionize the mobile web3 experience.Despite this major announcement, SOL, the native cryptocurrency of the Solana blockchain, has experienced bearish signs recently, according to data from cryptocurrency tracker Coingecko. At the time of writing, SOL is trading at $20.49, down by approximately 3.8% in the last 24 hours.Furthermore, the weekly chart records a decline of around 5.47%, indicating market volatility. However, SOL’s trading volume has increased by 10.76% in the last 24 hours, reaching $455,745,488, while its market capitalization has dropped by 3.60% in the same period.The post Solana’s Web3 Android Smart Phone Goes Live in Seven Countries appeared first on Coin Edition.See original on CoinEdition More

Warner Music Singapore and Affyn, a prominent Singapore-based Web3 company, announced today that they are partnering to create new opportunities for artists and audiences in the gaming industry.The deal aims to motivate and inspire creators to explore the endless possibilities of the Web3 gaming world, and provide everyone with unique experiences that have never been seen before.Lucaz Lee, the CEO of Affyn, believes that this collaboration with Warner Music Singapore will represent a new era of digital content consumption. The collab will leverage Web3 technology to support musicians, artists, creators, and collaborators to deliver an even more immersive and interactive experience for the audiences, according to Lee.Gerald Ang, the Managing Director of Warner Music Singapore, added that they are delighted to collaborate with Affyn. The Warner Music SG team is looking forward to exploring innovative and creative approaches to promote Warner Music Singapore’s artists by taking audience engagement to unprecedented levels. Looking to tap into new avenues, Ang said:Affyn will be revealing more details about its new game set to launch this year at their keynote event, Evolution, on May 10. As part of the partnership, Warner Music Singapore will produce a customized song featuring bilingual artist J.M3 (pronounced Jamie) for Affyn’s new game. In addition, she will also be performing as a main character via an avatar in the game’s trailer, creating an immersive audio-visual experience for fans.In related news, J.M3, with her recent releases such as ‘Castle’, ‘Don’t lmk’, and ‘Hot Sauce’, will also be dropping her highly anticipated debut EP titled 180:Athena on all major DSPs on May 19.The post Warner Music SG Partners With Affyn For Web3 Gaming Content Push appeared first on Coin Edition.See original on CoinEdition More

Polygon’s (MATIC) bullishness faded early when bulls failed to break above the 24-hour high of $0.9411. Due to the bulls’ hesitancy, MATIC’s price dropped to a 90-day low of $0.886 before regaining support. At press time, the MATIC market was dominated by bears, resulting in a 3.69% drop to $0.8945.The market capitalization of MATIC fell 3.77% to $8,254,089,404, while the 24-hour trading volume increased 15.65% to $436,899,775.This spike shows the possibility that traders are taking advantage of the heightened volatility by engaging in short-term trading tactics such as day trading or scalping. Increased volatility might entice more traders to the market since these tactics depend on frequent price fluctuations to produce gains.MATIC/USD 24-hour price chart (source: CoinMarketCap)With a value of 0.902, the Arnaud Legoux Moving Average (ALMA) indicator rises above the price, supporting the bearish momentum. When the market price falls below the ALMA line, it is regarded as a bearish indication, suggesting that the price is decreasing due to selling pressure.The negative momentum in the MATIC market is strong, with an Aroon down reading of 71.43% and an Aroon up reading of 21.43%. This movement implies more significant selling pressure and an impending decline.Due to this change, traders may be trying to modify their holdings to capitalize on any short-term opportunities.MATIC/USD chart (source: TradingView)On the MATIC/USD 4-hour price chart, the Keltner Channel bands are moving south, with the upper, middle, and lower bands touching 0.976, 0.941, and 0.906. This movement of the bands indicates that the market is declining, that volatility is reducing, and that the price may be consolidating inside a narrower range.However, the fact that the price has reached the lower range shows that the market is oversold, which means that the price is below its fair value and might be ready for an upward reversal.The Relative Strength Index (RSI) of 23.63 indicates that the market is now oversold. This movement suggests a possible purchasing opportunity for traders trying to capitalize on the market’s oversold circumstances.MATIC/USD chart (source: TradingView)In conclusion, the MATIC market is bearish with increased volatility, offering short-term trading opportunities. Traders may look for potential buying opportunities as the oversold conditions suggest a potential upward reversal.Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.The post MATIC Hits 90-Day Low: Oversold Market Signals Potential Reversal appeared first on Coin Edition.See original on CoinEdition More

After two failed deals to sell its assets to FTX.US and, most recently, with Binance.US, Voyager has unveiled initial recovery plans per its proposed direct distribution model.In a Monday, May 8, blog post, the Voyager restructuring team disclosed that customers would receive 35.72% of their holdings with the firm as part of an initial recovery plan filed with the bankruptcy court on Friday, May…Continue Reading on DailyCoin More

According to a Goldman Sachs (NYSE:GS) report published on May 8 titled “Eyes on the Horizon: Family Office Investment Insights,” 32% of family offices currently hold investments in digital assets. This category includes cryptocurrencies, nonfungible tokens (NFTs), decentralized finance (DeFi) and blockchain-focused funds. Continue Reading on Coin Telegraph More

According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on April 18 by law enforcement agents. Continue Reading on Coin Telegraph More