Multicoin Capital will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) supporting pro-crypto Republican senators, for up to $1 million over 10 days. On July 5, Multicoin Capital Managing Partner Kyle Samani said the firm’s involvement will “double the impact” of donor contributions. Samani explained the company’s reasons for …
Monthly archives: July 2024
Zambia to Outlaw Use of Foreign Currency, Criminals Could Face Jail Time for up to 10 Years
The Bank of Zambia has proposed a new series of guidelines that seek to outlaw the use of foreign currency, including the U.S. dollar, for local transactions. If finally approved, the document would establish harsh penalties for infringement, including jail time for up to ten years and hefty fines. Zambia to Punish Illegal Use of …
Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground
Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National …
Crypto Theft Surge: Hackers Steal $1.38 Billion in First Half of 2024, Doubling 2023 Figures
A new report by blockchain intelligence firm TRM reveals that crypto thefts in the first half of 2024 have doubled compared to 2023, with $1.38 billion stolen by June 24. Major hacks constitute 70% of losses, with private key compromises and smart contract exploits as top attack vectors. Crypto projects are advised to adopt comprehensive …
Chainlink on the Cusp of ‘Good Times Ahead,’ Says Analyst Michaël van de Poppe – Here Are His Targets
One widely followed crypto analyst is turning bullish on decentralized oracle network Chainlink (LINK) after a massive correction. Crypto trader Michaël van de Poppe tells his 722,800 followers on the social media platform X that based on a historical pattern, Chainlink could enter an uptrend against Bitcoin (LINK/BTC) to end the year. “LINK has been …
Massive Sell-Off: Mt. Gox Bitcoin Payout Fears Wipes Out $170 Billion From Crypto Market
The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500. The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who …
Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins
Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as …
Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next?
The cryptocurrency market continues to navigate choppy waters, with many digital assets experiencing significant price drops. However, XRP seems to be charting a different course. While the broader market sentiment remains cautious, large investors, often referred to as “whales,” have been quietly accumulating XRP. This bullish behavior by whales, coupled with positive technical indicators, has …
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Social Media Screams “Sell” As Bitcoin Crashes To $54,000: Buy Signal?
Data shows users on social media platforms have been calling to sell Bitcoin after its latest crash, a signal that contrarian traders may be waiting for. Bitcoin Sentiment On Social Media Has Turned Quite Bearish According to data from the analytics firm Santiment, social media is showing historic levels of FUD amid the market drawdown. …
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Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price?
On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price. Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity …
US House may vote to overturn Biden’s SAB 121 veto next week
While the House and Senate already voted to overturn SAB 121, it will need a two-thirds majority vote from both chambers to invalidate Biden’s veto.
Solana-Based Memecoin Defies Market Downturn, Jumps Over 30% in 24 Hours Amid Listing on Multiple Exchanges
One Solana-based (SOL) meme asset is defying market doldrums and rallying after being listed on numerous crypto exchange platforms. New data reveals that Billy (BILLY), a dog-themed memecoin built over Solana, has jumped over 30% during the last 24 hours after multiple crypto exchange platforms added support for it. The crypto exchange platforms that listed …
Bitcoin traders eye Trump victory as potential market boost – FT
Former President Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value, the Financial Times reported July 5, citing various analysts. According to the FT, the concept of a “Trump trade” is increasingly gaining traction among crypto traders due to the former President’s “perceived pro-crypto stance and …
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Bit Digital, Iris Energy report declining Bitcoin output, rise in hash rate YoY
Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April. Bit Digital reported a hash rate of 2.57 exahashes per second (EH/s) as of June 30, up from 2.54 EH/s in May and 1.78 EH/s in June 2023. The firm …
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Polkadot sees 33% transaction growth as DOT hits seven-month low
Polkadot’s ecosystem remains robust despite recent market downturns that briefly pushed DOT’s value to a seven-month low. Polkadot ecosystem thriving Data from DotLake shows a 33% month-on-month increase in transactions within Polkadot’s ecosystem, rising to 16 million in June from 12 million in May. The growth was primarily driven by One Frequency, a Layer 1 …
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