Crypto News Updates

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Cardano’s network will benefit from more efficiency and fast bootstrap after Mithril went live on mainnet. ADA price was flat, but could benefit from new bullish momentum across the market. Cardano has achieved another milestone with the mainnet launch of the highly anticipated Mithril upgrade. On July 30, an announcement by Cardano stake pool operator (SPO) Banksy revealed that Mithril was now live on the mainnet. Network efficiency Mithril is a stake-based network of nodes that enable the creation of snapshots and certificates of the Cardano Node, allowing for a fast bootstrap and restoration. The development promises to bring several benefits to network users, particularly in boosting the efficiency of Cardano full node clients. The upgrade will also enhance user access to Daedalus and other network applications, with increased decentralisation achieved via the ability for any number of pools attesting to transactions through an aggregator and signer. “ With Mithril, SPOs...

Binance announced on Monday it had received the Operational Minimum Viable Product (MVP) license issued by Dubai’s Virtual Assets Regulatory Authority (VARA). The exchange secured the landmark license via its subsidiary Binance FZE. Binance will now offer cryptocurrency exchange services to qualified institutional and retail customers. Binance has become the first cryptocurrency exchange to secure the Operational Minimum Viable Product license in Dubai. According to an announcement the company published on Monday, the milestone was achieved through Binance FZE, the exchange’s Dubai-based subsidiary. #Binance FZE, our Dubai based subsidiary, is the world's first exchange to receive the Operational Minimum Viable Product licence in Dubai. Eligible users can now access regulated virtual asset services, such as fiat on and off ramp services via Binance FZE. More here 👇 — Binance (@binance) July 31, 2023 VARA-approved crypto license The operational MVP license is is...

The US Securities and Exchange Commission (SEC) reportedly asked Coinbase to only list Bitcoin. Coinbase CEO Brian Armstrong says the pressure left it no choice but to fight it out in court. SEC chair Gary Gensler has previously noted that almost every other cryptocurrency was a security. Coinbase CEO Brian Armstrong has revealed that the US Securities and Exchange Commission (SEC) wanted it to delist every other cryptocurrency and only offer Bitcoin (BTC) .  A report the Financial Times published on Monday claims that this happened before the regulator sued the US-based cryptocurrency exchange in June. Per the FT report, Armstrong saiys that the SEC’s demands left Coinbase with no other option but to defend itself in court. SEC’s plans could have “ended” crypto in the US When the SEC filed a lawsuit against Coinbase in early June, complaints included the offering of unregistered securities.  The Commission named several altcoins listed on Coinbase as unregistered ...

BNB/USD forms a possible bearish flag pattern The US dollar strength is not responsible for the BNB/USD bearishness $200 provides support for now Bitcoin rallied in 2023 and holds onto its gains. Most other major cryptocurrencies did so too, but some exceptions exist.  One is Binance Coin (BNB).  Sure enough, it rallied at the start of the year, following Bitcoin’s lead. But then it gave up all of its gains – and some more.  One cannot blame the US dollar’s strength as the cause for the BNB/USD decline. After all, the dollar’s strength is not visible in other cryptocurrencies.  Instead, it appears to be the Binance Coin that trades with a bearish tone. That is particularly true if one looks at the technical picture, which shows the bearish pressure building as the market nears the $200 support level.  Binance Coin chart by TradingView A bearish flag pattern suggests that BNB/USD will break the $200 support level A bearish flag pattern is a continuat...

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Optimism (OP) price surged more than 7% on Sunday to reach intraday highs of $1.61. the Ethereum layer-2 protocol unlocked 24 million OP tokens worth $38 million into circulation on July 30. OP price could flip to $1.89 if bulls remain in control in the short term. Optimism (OP) price surged more than 7% on Sunday to reach intraday highs of $1.61 as at 10:30 am ET. The gains put the Ethereum layer 2 protocol among the top performing crypto assets in the past 24 hours. Daily trading volume is up 107% from a day ago, according to data from CoinGecko, with this coming even as the optimistic rollup network unlocked 24 million on July 30.  Interestingly, on-chain data shows Optimism’s transaction volume recently surpassed that of other Ethereum L2 Arbitrum. OP price prediction after token unlock The release of more OP into circulation is part of the cryptocurrency’s scheduled unlocks. The latest saw 24 million OP worth $38 million added to circulating supply that currently st...

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Ethereum is consolidating around the yearly highs $2,000 proves to be stiff resistance ETH/USD price action holds between a $1,000 range since May 2022 There is only one trading day left in July, and the cryptocurrency market is consolidating. That is particularly true of major cryptocurrencies such as Bitcoin or Ethereum, as they both hover around their yearly highs against the US dollar.  Ethereum found strong resistance at the $2,000 area in 2023, just as it found strong support at $1,000 last year. The question now is whether resistance holds and the price will be sent back to $1,000? Or will bulls manage to push over resistance, and the rally will continue in the last months of the year?  ETH/USD remains bullish while the price holds above $1,000 The rally in the cryptocurrency market seen in 2023 triggered enthusiasm among cryptocurrency investors. However, without more follow-through, the bullish sentiment will dissipate soon.  Ethereum chart by TradingVi...

Key US economic data is due this week An increase in the US dollar’s volatility should move the cryptocurrency market too The NFP report is the highlight of the week The final week of July is ahead of us, and cryptocurrency traders might want to consider what happens with the US dollar. After all, Bitcoin’s consolidation around $30k in the past few weeks brought little or no activity in the market.  Therefore, should the US dollar’s volatility rise in the week ahead, Bitcoin’s volatility may rise too. Consequently, the entire cryptocurrency market will be more active if Bitcoin’s volatility rises.  So here are three events that might move the US dollar consider next week:  ISM Manufacturing and Services PMI  ADP Employment Change  Non-Farm Payrolls ISM Manufacturing and Services PMI The PMI data is calculated monthly and interpreted in relation to the 50 level. A print bigger than 50 shows an expanding sector, while one above 50 shows an expanding ...

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Shiba Inu wallet addresses with 10 million to 100 billion added 1.11 trillion SHIB since June 4. The increased whale activity comes amid bullish sentiment for Shiba Inu ahead of its Shibarium launch. SHIB price was slightly higher on Saturday, trading around $0.00000830. Shiba Inu is among altcoins to see a significant surge in their prices over the past week, with the meme coin largely benefitting from whale activity. According to on-chain data from market intelligence platform Santiment, large holders have accumulated staggering amounts of SHIB since early June.  This spike in whale activity comes ahead of a highly anticipated Shiba Inu ecosystem event – the launch of the layer-2 solution Shibarium. While only testnet access is available for now, the huge anticipation surrounding Shibarium is one of the factors driving interest in the meme coin. Shiba Inu whales gorge on SHIB As Santiment shared on Friday, large Shina Inu wallets in the category of “sharks” and “dolph...

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Kannagi Finance has reportedly rugpulled, with users losses amounting to $2.13 million. Protocol’s social media channels have been deleted or are unaccessible. KANA token has nosedived, plunging by 99% after the incident. Kannagi Finance, a revenue aggregator protocol on zkSync Era, has reportedly rugpulled. Users have suffered major losses, while the price of the native token KANA has nosedived. The protocol’s official website has allegedly “expired”. Meanwhile, its social media channels, including the official Twitter account are inaccessible. Total value locked (TVL) has plummeted from $2.13 million on Friday to near zero this morning, putting users losses at over $2 million. TVL plunged to near zero Kannagi Finance is said to have had its audit on June 6, handled by SolidProof, an audit agency under Germany-based Make Network. However, the protocol’s smart contract code remained closed-source and unverified.  “ The zkSync Era revenue aggregator protocol Kannagi Financ...

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Solana based Aurory has expanded to Arbitrum, a leading L2 for Ethereum. $1 million in AURY liquidity has been added to the Arbitrum native DEX Camelot. AURY price surged more than 22% to hit highs of $1.00. Aurory, a leading NFT and gaming project in the Solana ecosystem, is seeing fresh adoption after it announced expansion to Ethereum Layer-2 protocol Arbitrum. According to the platform, expanding to Arbitrum is all about accessibility and bringing more users to the gaming platform. “ Using SyncSpace to expand Aurory to multiple platforms allows us to tap into diverse new user bases, creating frictionless onramps for these communities, regardless of whether they are Web2, or Web3 native ,” the Aurory team said . The integration means that all of Aurory’s on-chain assets are now accessible on either Solana or Arbitrum. Users on the Arbitrum network can get AURY by depositing USDC into SyncSpace, then swapping the stablecoin for AURY. As a native token, AURY can be used acr...

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Bitget will list MX Token (MX) while MEXC will add Bitget Token (BGB). Both listings will be on July 31, with trading pairs BGB/USDT and MX/USDT. Bitget Token (BGB), the utility token of crypto exchange Bitget, will be listed on MEXC Global on July 31, the exchanges announced on Friday. MEXC will list the Bitget token in the Innovation Zone and has opened deposits for BGB. Initial supported pair will be BGB/USDT, with trading set for Monday, July 31 at 10:00 UTC. Withdrawals will be available from August 1, 2023 at 10:00 UTC, the exchange noted 🚨 #MEXC new listings alert! 📈 $BGB /USDT will list in the Innovation Zone at 10:00 on Jul 31 (UTC). @bitgetglobal 🔹Deposit: Opened 🔹Withdrawal: Aug 1, 10:00 (UTC) Details: https://t.co/UnY4C1Br41 pic.twitter.com/KdGI31hvNK — MEXC (@MEXC_Official) July 28, 2023 As MEXC lists BGB, Bitget will also be adding trading support for MX Token (MX), the native utility token of the MEXC Global exchange. The simultaneous listing will...

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Kin community adopts proposal to burn 7 trillion of supply. The total supply of Kin is 10 trillion KIN tokens. The price of native token KIN jumps more than 20% as traders react to news. Kin Foundation has announced that a proposal seeking to burn trillions of KIN tokens has passed. According to an update from the organisation, the community’s vote on the proposal to burn Kin Reserves will see over 7 trillion KIN tokens destroyed. Update: The proposal to burn the Kin Reserves has passed after a token weighted vote by the Kin community. You can read the official results of the vote and next steps here: https://t.co/0qVaJsYnKE — Kin Ecosystem ⬢ (@Kin_Ecosystem) July 27, 2023 Kin’s path to decentralisation About 4.96 trillion KIN held by the foundation and 2.1 trillion KIN planned for burning by Kik should be destroyed by end of day Friday, July 28. That would see roughly 71% of the total KIN supply burned. “As a next step, the 4.96T Kin Reserves will be sent to a new Sol...

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TD Cowen analyst sees upside in MicroStrategy to $520. Lance Vitanza explained his bullish view in a research note. MicroStrategy stock has already tripled since the start of 2023. MicroStrategy Inc has already tripled since the start of this year but a TD Cowen analyst continues to see further upside in this stock. MicroStrategy stock could climb to $520 Lance Vitanza assumed coverage of the software company today with an “outperform” rating and said its shares could climb to $520 – up another 22% from here. For institutional investors, he said in his research note, MicroStrategy stock is the best way to gain exposure to Bitcoin . MSTR uses all its retained earnings and then some to buy and hold BTC [that] reflects a belief that Bitcoin will prove a superior store of value relative to metals and fiat currencies. The Nasdaq-listed firm is set to report its Q2 earnings next week. Consensus is for it to lose 71 cents a share versus an alarming $92.81 per share a year ago. M...

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The US Justice Department had filed a complaint against Sam Bankman-Fried for allegedly tampering with witnesses. DOJ last week said Bankman-Fried had tried to discredit Caroline Ellison, a former colleague who’s now a key prosecution witness. While US Judge Lewis Kaplan did not jail the former FTX CEO, he allowed parties to submit a gag proposal. Sam Bankman-Fried could end up in jail ahead of his criminal trial set for October after the US Justice Department asked the court to have the disgraced former FTX CEO detained. Bankman-Fried accused of witness tampering In its argument during a hearing on the matter on July 26, the DOJ said Bankman-Fried has on multiple occasions defied orders around witness tampering. The prosecution’s move comes a few days after the DOJ accused the former FTX chief of leaking the private diary of Caroline Ellison in an attempt to discredit her. As CoinJournal reported last week, allegations of tampering with witnesses against Bankman-Fried in tha...

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AltSignals is riding the AI hype with its blockchain AI-powered AI ecosystem. The project is currently conducting a presale for its native token, ASI. The ASI cryptocurrency will be the backbone of the AI ecosystem. Artificial intelligence has become quite a sensation and it is taking over almost all industries. From OpenAI’s ChatGPT chatbot to Elon Musk’s xAI Company and the recently launched Worldcoin cryptocurrency , AI is becoming a force to reckon with. Although widely seen as a reserve of big tech companies like Google and Microsoft, blockchain startups are also leveraging the power of AI to streamline their services. One such startup is the AltSignals, which has been providing financial market traders including cryptocurrency traders with trading signals since 2017. Five years of providing trading signals Thanks to its high-end trading toolbox, AltSignals has drawn a sizable and devoted community of online traders since 2017. Due to its incredible success rate when disse...

HONG KONG, HONG KONG, July 26th, 2023, Chainwire OKX , a leading crypto exchange by trading volume and Web3 technology company, has published its industry-best ninth consecutive monthly Proof of Reserves (PoR) , showing a balance of USD$11.3 billion in BTC, ETH and USDT. OKX’s PoR covers 22 commonly used digital assets and demonstrates that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included in OKX’s PoR are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI. OKX stores the majority of its reserves in highly secure off-chain cold storage. It has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022. OKX’s current reserve ratios are as follows: BTC: 103% ETH: 103% USDT: 103% OKX Global Chief Commercial Officer Lennix Lai sa...

Shiba Memu token has raised over $1.1 million in the past few weeks. The token will likely do well as the Fed delivers the last rate hike. The Artificial Intelligence (AI) industry is doing well as adoption and investments rise. On Tuesday, companies like Microsoft and Alphabet said that their AI tools were gaining momentum as demand jumped.  At the same time, top AI  cryptocurrencies like SingularityNET and Fetch.ai have held quite well recently. Worldcoin, the coin launched by ChatGPT’s founder has jumped by almost 50% in the past three days. So, is Shiba Memu the next big thing in crypto? Fed to end rate hike There were three main news this week. First, the earning season continued in the United States as over 150 companies in the S&P 500 index published their results. Microsoft and Alphabet, two of the biggest companies in the US published strong financial results. Most importantly, the said that the development and adoption of their AI tools was gaining mo...

Tezos (XTZ) price is down 2% this past week as cryptocurrencies struggle for direction. XTZ trades near $0.80 and risks declines to $0.65 if bears take control. However, network metrics suggest a resurgence in activity after recent upgrades – which could catalyse upside momentum. Tezos is largely unchanged in the past 24 hours as most cryptocurrencies either retreat from recent highs or consolidate at levels that have held for much of July. XTZ, which traded to highs of $0.90 on Monday, looks to be in the former group as its price hovers near $0.80. The coin’s current price levels are at a similar base seen on July 12 when bulls went on to test resistance above $0.92. Tezos upgrades could catalyse network growth According to data shared by crypto market intelligence platform Messari, Tezos has seen reduced activity since Q4, 2022. Account-related metrics such as active accounts have declined by 20% in the last three months compared to the first quarter. The network has also r...

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Key takeaways Cryptocurrency projects raised $201 million from VC firms last week. Chancer’s presale is currently ongoing, and the project is close to hitting the $1 million mark.  The cryptocurrency market is starting the week in a bearish manner. Bitcoin is down by more than 2% today and could experience further decline in the next few hours. At press time, the  price of Bitcoin stands at $29,148 per coin. However, Chancer’s presale continues to soar higher, with the team now close to hitting the $1 million mark. Crypto projects raised $201M in a week Bitcoin and other cryptocurrencies have been experiencing ranging markets since the start of the month. However, despite the market’s poor performance in July, cryptocurrency projects continue to set new records. A report by CoinDesk revealed that cryptocurrency projects raised $201.4 million last week. The biggest earners in the market were projects that create developer tools for zero-knowledge proofs. VC firms...

Bitcoin price fell to lows of $29,000 across major exchanges as liquidations rose 203% in 24 hours. Total rekt positions was more than $150 million, with $124 million being longs. The volatility saw over 50,000 traders liquidated in the past 24 hours. Bitcoin extended its decline beneath $30,000 on Monday as the total crypto market value dipped by 2% to just over $1.2 trillion. As BTC price touched $29,000 across major exchanges – it fell to $28,978 on Bitstamp and $28,973 on Coinbase – data showed total crypto liquidations in the past 24 hours surpassed $150 million. Bitcoin price fell to lows of $28,973 on Coinbase on Monday. Source:  TradingView   Longs rekt as 24-hour liquidations hit $150 million According to data from Coinglass , the 24-hour liquidation was double the figure recorded a day earlier. Indeed, total positions rekt in the period rose 203%, with longs accounting for the largest share at over $124 million.  Shorts accounted for about $26 milli...

World (WLD) price spiked 78% after its mainnet launch on Monday. The soaring prices also followed the listing of WLD on world’s largest crypto exchange by trading volume Binance. According to CoinGecko data, WLD price hit highs of $3.30 on major exchanges. Worldcoin (WLD), the native utility token of the just launched Worldcoin cryptocurrency, soared to highs of $3.30 on Monday morning. This was after the world’s leading crypto exchange Binance announced support for the token. CoinJournal reported on Worldcoin’s mainnet launch earlier today. [ Read more ]. Worldcoin price soars as Binance lists WLD for trading At the time of writing, WLD was trading near $2.98 on major exchanges according to details from CoinGecko. Per the data, Worldcoin price was up 78% at the time, with more than $26.4 million in trading volume. WLD tokens are currently tradable on several centralized crypto exchanges, including Binance, Bybit, KuCoin and Huobi. On Monday, shortly after the Worldcoin team ...

At press time, the LAELAPS token had jumped 283% in the last 24 hours to trade at $0.005519. The LAELAPS is categorized as a meme coin, making today’s top gainer in that category. The presale of Shiba Memu (SHMU), another meme coin, has hit $1.055 million. Laelaps (LAELAPS) token is today’s top gainer among the top meme coins according to Coinmarketcap. The token has unleashed a monster bull run that has catapulted it from $0.001419 to $0.005519 in a matter of hours. Earlier today, it had hit a daily high of $0.0093 before slightly pulling back to the price at the time of writing. LAELAPS price surge comes at a time when the meme coins industry is experiencing significant growth mainly because of the many new meme coin projects, like the Shiba Memu , being launched. Interestingly, a majority of the new meme coins have attracted quite a following which in most cases translates to ridiculous price surges in very short timeframes.   What is Laelaps? Laelaps is a Telegram toolk...

AI-led token by Altman, Worldcoin, is said to go live on Monday Worldcoin’s launch comes when AI interest is growing with AltSignals, a recent entrant AltSignals value is expected to skyrocket when the token lists amid high demand AI is becoming the application technology in finance and beyond. As such, AI-related projects are becoming sensations, with WorldCoin and AltSignals as two of those projects. Take the case of AltSignals, for example, which is launching an AI trading signal service. Since a  presale of AltSignals started, investors have heavily bought the token, with the first phase completed. In the second stage, investors bought more than 53% of the tokens. Worldcoin to launch on Monday – Reports The controversial biometrics and AI token by ChatGPT CEO Sam Altman will reportedly go live on July 24. The token has generated a lot of interest as OpenAI has become popular since the launch of ChatGPT.  Worldcoin seeks to build the world’s largest identity ...

Key Takeaways Ever since the Merge went live in September, Ether has underperformed Bitcoin significantly  This is despite the supply of Ethereum falling post-Merge More Ether is also being staked since the Shapella upgrade in April  Demand has fallen with regard to Bitcoin, however, overriding the lower supply Regulatory crackdown and greater institutional interest in Bitcoin appears to be driving the divergence, writes our Head of Research One of the more interesting trends to follow within crypto is that of the ETH / BTC chart. In other words, how the world’s two largest cryptocurrencies move in relation to one another. Now ten months on from the Ethereum Merge, it feels like a good time to re-analyse the relationship. The Merge completely transformed Ethereum, switching the network to a proof-of-stake mechanism rather than the proof-of-work mechanism it was on previously. On the other hand, Bitcoin remains (and always will be) a proof-of-work blockchain.  Th...