Crypto News Updates

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Meme coins have done well in the past few months, with most of them outperforming the likes of Bitcoin, Ethereum, and Solana. Tokens like Floki Inu, Dogwifhat, and Pepe have all jumped by more than 300% this year while most big coins have jumped by less than 100%.  Dogecoin and Shiba Inu lose momentum There are signs that most traders are focusing on newer meme coins as the biggest ones lose momentum.  A good example is looking at the performance of pioneer tokens like  Dogecoin and Shiba Inu. The two tokens have jumped by over 20% and 30%, respectively while most newer tokens like Dogwifhat and Pepe have more than doubled. The other way to look at this is their daily trading volume. Data by CoinMarketCap shows that the volume of Dogecoin in the past 24 hours stood at over $288 million while Shiba Inu stood at more than $115 million. These are small numbers considering that these tokens have a market cap of over $17 billion and $9.9 billion. In contrast, Pepe’s volu...

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Coinbase files with CFTC to list futures for five altcoins. The five altcoins futures include DOT, SHIB, XLM, AVAX, and LINK. Trading for these futures to begin on or after July 15, 2024. Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to list futures for five popular altcoins: Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink (LINK). According to a release by Coinbase, these new futures products are set to start trading on or after July 15, 2024. Coinbase seeks to expand its product suite The addition of these futures is a significant step for Coinbase as it seeks to enhance its product suite and provide its users with more versatile trading options. Futures contracts are financial derivatives that obligate the buyer to purchase, or the seller to sell, an asset at a predetermined future date and price. This allows traders to speculate on the future price movements of these altcoins with reduced upfront capital requireme...

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CleanSpark announced on June 27 that it had acquired GRIID Infrastructure, a US-based Bitcoin miner for $155 million. The company expects the all-stock deal to close in Q3, 2024 subject to GRIID shareholder approval and other customary requirements. Bitcoin miner CleanSpark announced today that it has entered an agreement to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million. According to a press release the merger agreement also saw the two Bitcoin mining companies seal an exclusive hosting agreement for all of GRIID’s currently available power. 20 MW of this power will immediately be allocated to CleanSpark. “We are looking forward to welcoming the GRIID team into the CleanSpark family and we are excited to apply the CleanSpark way, carefully honed alongside the communities we operate in Georgia and Mississippi, to GRIID’s impressive pipeline in Tennessee,” CleanSpark CEO Zach Bradford said in a statement. CleanSpark eyes 400 MW by 2026 CleanSpa...

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Solana rolled out the Blinks and Action feature, allowing users to buy crypto, tip vendors, and transact directly on the blockchain from regular websites and social media apps. The Solana Foundations says “Actions” will allow developers to integrate Solana ecosystem transactions into regular websites and apps. The Solana Foundation, in collaboration with Dialect, an on-chain smart messaging protocol, built “Actions and Blinks” (also called “Actions”), a set of features that allow users to interact with the Solana blockchain directly from a website,  popular social media applications, or QR code. The feature aims to bring Solana closer to everyday users by allowing developers to integrate virtually all transactions into websites and applications that regular people already use. Actions and blinks on Solana allow any website and application on the internet to be a distribution point for on-chain interactions – furthering the goal of mainstream adoption,” said Jon Wong, the Sola...

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Bitcoin (BTC) price fell more than 5% to drop below the $60,000 threshold. The declines came after news that Mt.Gox will start repaying its creditors in July, with potential $9 billion sell-off pressure incoming. Bitcoin price has dropped below the $60,000 threshold after a day of massive sell-off pressure. BTC reached highs of $71,974 on June 7, but has been in downtrend since. Today’s declines have seen the cryptocurrency break below $60k for the first time since rebounding above this level in early May. Bitcoin price drops below $60k On Monday, news that Mt. Gox, a bankrupt crypto exchange that suffered a major hack in 2014, was on the verge of distributing nearly $9 billion in BTC to creditors sparked new selling pressure for Bitcoin. When hackers stole thousands of Bitcoin from Mt.Gox ten years ago, the price of Bitcoin was around $40. That puts today’s price at an astronomical level since, a factor that could see some recipients of the 141,000 BTC to be repaid elect to se...

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Japanese firm Metaplanet announces 1 billion yen ($6.2 million) BTC purchase. Funds will come from proceeds of a bond issuance. Metaplanet, a top Japanese investment firm that has recently adopted the Bitcoin strategy by adding BTC to their balance sheet, has announced plans to buy more BTC. The company is looking to add over $6.2 million more worth of Bitcoin, using funds from an upcoming bond issuance. Metaplanet to buy more BTC Per details shared in an announcement , the bond payments are set for June 26, 2024 and Metaplanet will use the proceeds to buy more Bitcoin. It’s a move that would bring its holdings to more than $15 million. The firm holds 141.07 BTC after its recent 250 million yen purchase. The firm’s Board of Directors confirmed the decision to buy 1 billion yen worth of Bitcoin to add to its balance sheet on Monday. “While our basic policy is to hold Bitcoin for the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance...

CoinStats has temporarily shut down its app after the June 22 security breach. Users are advised to transfer funds immediately using exported private keys. Scam notifications have been distributed through the CoinStats push notification and an in-app message. On June 22, CoinStats , a prominent cryptocurrency portfolio tracking app, experienced a significant security breach impacting 1,590 user wallets, representing about 1.3% of all the portfolio tracker wallets. The incident, believed to be perpetrated by hackers linked to North Korea, led to immediate action from the crypto portfolio tracker, including temporarily shutting down the app and advising users to transfer their funds using exported private keys. CoinStats security breach: what we know so far According to an updated shared by CoinStats on X , affecting 1,590 wallets generated directly within the app. The hackers, suspected to have connections with North Korea, reportedly managed to compromise these wallets while ...

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JasmyCoin surges 12% as price defies broader crypto market JASMY could flip to $0.04 if bulls hold above key support level JasmyCoin (JASMY) , the native token of a Japan-based cryptocurrency project for decentralized data, has witnessed a significant price increase as most top altcoins mirror Bitcoin’s consolidation in the past month. On June 23, JASMY price was up 12% – more than any other token in the top 100 by market cap. As BTC and ETH hovered around the $64k and $3.5k price levels respectively, JasmyCoin was trading above $0.033, seeing a notable surge in daily volume and one of the top trending crypto tokens in the market. JASMY price – what happened? While JasmyCoin remains nearly 7% down in the past week, the past 24-hour gains have helped stem recent rot that saw JASMY fall to around $0.027. The declines had accelerated once JASMY retreated from above $0.044 in early June, with a breakdown to $0.030 coinciding with Bitcoin’s sharp descent this month. As the crypto m...

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Binance faces a $2.25 million penalty reportedly imposed by India’s Financial Intelligence Unit (FIU). The penalty relates to the crypto exchange’s violation of India’s anti-money laundering (AML) regulations. India’s financial watchdog, the Financial Intelligence Unit (FIU), has imposed a 188.2 million rupees ($2.25 million) fine on Binance , the world’s largest cryptocurrency exchange. FIU has ordered the crypto behemoth to pay the hefty fine after its operations violated India’s anti-money laundering (AML) rules. The fine comes less than two months after Binance and KuCoin gained registration with the FIU as the exchanges looked to resume operations in India, a country with a huge and rapidly expanding crypto community. Binance approved to operate in India In December last year, the regulator issued notices against Binance and other crypto exchanges, over what the FIU termed as violations of the Prevention of Money Laundering Act. In January, India removed the nine offshor...

Hong Kong, Hong Kong, June 20th, 2024, Chainwire Zeek has completed a USD 3M seed funding round from investors including OKX Ventures, Animoca Brands, and Mask Network Zeek will be changing the way social collaboration works in SocialFi through the use of reputation mechanisms The Tier-0 Genesis NFT collection, limited to 250, will be dropped later this month Zeek , a decentralized collaboration network for on-chain social bounty and reputation, has successfully completed a USD 3M seed funding round ahead of its official launch in July. Investors include OKX Ventures (as part of its strategic investment in Everest Venture Group’s consumer-oriented products, which includes Zeek), Animoca Brands, Mask Network, Arche Fund, Summer Ventures, Blockchain Coinvestors, Aspen Digital, CatcherVC, Panony, Spacebar, Hardbank and super angels including Jason Kam of Folius Ventures, Ivan Li of Comma3 Ventures and Donny Chi of WeMade. “Backing the Zeek team resonates with our goal of supporti...

Key takeaways Bitcoin has been trading above the $65k level as the broader market stagnates. Bitbot has unveiled its Mini App UI to simplify DeFi trading for users Bitcoin stays above $65k as market stagnates Bitcoin, the leading cryptocurrency by market cap, has been underperforming over the last seven days. It has lost more than 3% of its value in the last seven days and is currently trading above $65k per coin.  The poor performance comes as whales sold over $1 billion worth of Bitcoins over the last few days. Altcoins have also been underperforming in recent days, with the total crypto market cap now below $2.4 trillion. What is Bitbot? The crypto market is still consolidating but new projects continue to roll out excellent products to their users. Bitbot is one of the new projects that has been unveiling exciting products and services.  Bitbot raised more than $4 million from investors and is using the funds to launch products for traders on Telegram. This Web3...

Fetch.ai rose more than 23% to lead AI tokens higher after recent Nvidia news and performance. Other tokens, including SingularityNET and Ocean Protocol also surged more than 20% Fetch.ai (FET) has jumped more than 23% in the past 24 hours as leading AI-related tokens continue to bask in the limelight that Nvidia has illuminated in recent weeks. This week saw Nvidia overtake Microsoft as the world’s most valuable company, and the exuberance around the leading AI stock has cascaded to AI tokens. Fetch.ai leads this pack, with major gainers in the past 24 hours also including SingularityNET (AGIX) and Ocean Protocol (OCEAN). Both tokens, which together with Fetch.ai are set to merge into a single token dubbed ASI, are up more than 20% in 24 hours. Other AI tokens soar Akash Network (AKT), Bittensor (TAO) and The Graph (GRT) have also climbed double digits – AKT is up 21%, TAO 11% and GRT 11%. Render (RNDR), NEAR Protocol (NEAR) and Internet Computer (ICP) have recorded slightl...

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Political meme coins like MAGA and STRUMP have done well. Solciety hopes to be the next big thing in the political meme coin industry. Meme coins have dominated headlines in the past few months as some of them have grown to become giants in the crypto industry. For example, tokens like Book of Meme (BOME), Dogwifhat (WIF), and Brett have attained over $1 billion in market caps. Political and celeb-themed meme coins have done well, with the likes of MAGA, Super Trump, MAGA VP, and Baby Trump becoming highly popular among traders. It is against this backdrop that the Soforiety   token will be launched on Tuesday. What is Solciety? Solciety is a new Solana   meme coin that aims to become the next big thing in the crypto industry.  Its goal is to create a political party of the Degen era. Holders will be part of a new community where users will be able to create their own meme coins through the Meme Campaigner tool. This tool will have have over 200 traits and bac...

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Meme coins have a market cap of over $60 billion. Tokens like Pepe and Bonk have made many millionaires. SolJu could be the next big thing in the meme coin industry. Meme coins have done well this year, as they outperformed most mainstream coins like Bitcoin, Ether, and Ripple. Some, like Pepe and Book of Meme (BOME) have surged to a record high while the total market cap of all coins has soared to over $60 billion.  SolJu ,  an upcoming Solana meme coin, could be the next big thing in the industry. Why meme coins soared There are three main reasons why meme coins have done well this year. First, most of these tokens soared as a sense of greed spread in the market. The fear and greed index has mostly been in the green this year as investors anticipated rate cuts by central banks like the Federal Reserve and the ECB.  Second, meme coins jumped because of Bitcoin’s performance. Bitcoin, the biggest crypto in the world, jumped to a record high in March as inves...

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Bonk trades below a critical price level. Arbitrum loses steam, falling below $1. Rebel Satoshi Arcade’s blend of memes, GameFi and NFTs appeals to investors. The crypto market took a sharp downturn earlier this week, leaving the bulls at the mercy of the bears. Top altcoins like Bonk (BONK) and Arbitrum (ARB) took a big hit, with the former losing key price levels and the latter struggling with momentum. Nevertheless, a comeback is just around the corner. And as they say in the crypto scene, “buy the dip” and wait for the pump. The long-term outlook remains positive after all, especially with the SEC’s green light to spot ETH ETFs and the launch of BTC ETFs. Also stirring up excitement is the Rebel Satoshi Arcade (RECQ) presale. Its fascinating blend of memes, GameFi and NFTs hasn’t gone unnoticed, with investors in a frenzy to become early adopters. Rebel Satoshi Arcade (RECQ): A New Favorite Among Savvy Investors Rebel Satoshi Arcade (RECQ) is no doubt one of the most...

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Current CEO Chris Amani announced that Terraform Labs will wind down. Terraform Labs will sell its remaining assets to various digital asset management firms. More information about Terraform Labs’ dissolution and the distribution of its assets will be released in the coming weeks. The CEO of Terraform Labs, the blockchain protocol founded by Do Kwon, has announced that it is ceasing operations after reaching a settlement with the U.S. Securities and Exchange Commission (SEC). The $4.5 million fine settlement , which reached on Wednesday June 12, marked the end of a tumultuous period for the company, which has faced significant legal and financial challenges since the TerraUSD (UST) stablecoin collapsed in 2022. The UST collapse wiped out wiped out almost half a trillion U.S. dollars from the crypto markets. Terraform Labs had a shutdown plan just in case Terraform Labs’ decision to cease operations comes after a settlement with the SEC, which had initially sought a $5.3 bill...

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SEC Chair Gary Gensler told lawmakers on Thursday that he sees spot Ethereum ETFs’ S-1 filings approval in the summer. The SEC Chair’s comments however did not offer much information, an ETF analyst noted. Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), sees the recently approved spot Ethereum exchange-traded funds (ETFs) getting the final nod for trading in the summer. The SEC chair shared the outlook during a hearing with US lawmakers on Thursday, June 13. Gensler’s remarks came during the Senate Banking Committee hearing that’s considering the US government’s 2025 budget for the Commission.  Asked about the spot Ethereum ETFs, Gensler noted that he expects the SEC will have a final approval via the S-1s “sometime over the course of this summer.” Summer it is, but While the crypto community has known of the upcoming listing and trading since the regulator approved 19b-4 filings in May this year, Gensler’s comments now have a timeline in place...

MultiversX and Cornell have launched Blockchain Essentials Program for 100 underserved students. The program offers free education, mentorship, and potential funding for blockchain projects. The program is aimed at fostering inclusivity and innovation in blockchain technology. MultiversX, in partnership with Cornell University’s eCornell, has unveiled an innovative Blockchain Essentials Program aimed at supporting 100 economically disadvantaged college students. We’re thrilled to announce Blockchain Essentials: a collaborative program with @ecornell_online (part of Cornell University), a top-ranked global institution. To support 100 college students in kickstarting their Web3 journey with #MultiversX . Courses start July 17th. pic.twitter.com/o8Y7dRLvj4 — MultiversX | Sovereign Chains (@MultiversX) June 11, 2024 This initiative offers a unique opportunity for participants to gain specialized knowledge in blockchain technology , receive mentorship, and potentially secure ...

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MoonPay integrates PayPal for EU and UK crypto purchases using fiat. PayPal, the third most popular payment method in the US, brings convenience to MoonPay. MoonPay’s move aims to lower entry barriers and foster trust among its growing user base. MoonPay, a leading cryptocurrency payments platform, has announced the integration of PayPal as a new fiat on-ramp for its users in the European Union and the United Kingdom. Buying crypto with PayPal is going global! MoonPay users in 24 EU member states and the UK can now buy 100+ cryptocurrencies using their PayPal account. pic.twitter.com/FtHiJ6u21e — MoonPay 🟣 (@moonpay) June 12, 2024 This move will allow customers to use PayPal to purchase cryptocurrencies on the MoonPay platform, providing a seamless and convenient user experience. Initially available to 1% of European users, a full rollout across the region is expected soon, though residents of Croatia, Iceland, and Hungary will not have access to this service. MonnPay ex...

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Monero price continued to defy gravity as it surged to its highest point since January 30th. It has surged by over 80% from its lowest level this year, giving it a market cap of over $3.2 billion. The focus among cryptocurrencies is now shifting to the upcoming Federal Reserve interest rates decision and the ongoing ETF inflows. Monero is defying gravity Cryptocurrencies wavered on Monday as focus remained on the upcoming Fed decision. Bitcoin held steady below the crucial resistance point at $70,000. Other big cryptocurrencies like Ether and Solana remained in a tight range. Many altcoins, on the other hand, went through a major sell-off as concerns about the Federal Reserve continued. This sell-off happened after the US published strong jobs numbers on Friday, raising the possibility that the Fed will hold rates steady in this week’s meeting.  Monero, the biggest privacy coin in the world, was the best-performing token even though there was no major ecosystem news. Notably, ...

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Gibraltar, Gibraltar, June 10th, 2024, Chainwire Polkadot’s leading DeFi project – Hydration , is thrilled to announce that it has been awarded 2 million DOT (equivalent to $14.4 million) tokens from the Polkadot treasury. The funds have been earmarked to bolster the liquidity and trading efficiency of Hydration’s single-sided liquidity provisioning platform Omnipool. The allocation of the DOT tokens is twofold. One million DOT will be spent over the course of one year to attract fresh liquidity to the Polkadot ecosystem, with initial rewards for Liquidity Providers (LPs) ranging above the 200% APY mark. Thanks to the single-sided LP design of the Hydration Omnopool, users will start receiving rewards after providing a single asset and joining an incentives farm, with various assets being incentivized including native stablecoins, DOT, BTC and several ecosystem coins. The remaining one million DOT will be injected directly into the Hydration Omnipool itself, with the goal of support...

Crypto investment products saw inflows of $2 billion last week According to CoinShares, the inflows reached a 5-week streak, with Bitcoin seeing most of the interest. The total assets under management (AuM) in crypto ETPs crossed $100 billion for the first time since March. Asset manager CoinShares has shared the latest insight into digital asset investment products flows. In its weekly report published on Monday, the company says crypto exchange-traded products (ETPs) recorded inflows of $2 billion, hitting a 5-week run as Bitcoin’s price hovered near the key level of $70,000. Crypto investment products see $2 billion in inflows In the report, CoinShares head of research James Butterfill noted that inflows into digital assets investment products reached $2 billion, with most of this in Bitcoin (BTC). With this flows, the crypto sector has extended the winning streak in terms of institutional inflows to 5 weeks. In total, the industry has recorded inflows to $4.3 billion in ...