American multinational finance company, JP Morgan has maintained a bullish stance on the Bitcoin price outlook despite recent bearish trends. The bank has announced the timeline for the conclusion of the ongoing BTC liquidations, predicting a subsequent rebound in the market. 

JP Morgan Predicts Bitcoin Market Rebound In August

In a research report on Wednesday, JP Morgan suggested that BTC liquidations should abate this July, foreseeing the start of a strong bull market as bearish trends caused by sell-offs subside. While the bank believes that a market recovery is imminent, it is also skeptical about the sustainability of high Bitcoin inflows in its year-to-date flow into crypto assets.

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For one, JP Morgan has revised and grossly reduced its former year-to-date crypto net flow from $12 billion to $8 billion. So far this year, Spot Bitcoin ETFs have been the major driver for substantial inflows into the crypto market. 

JP Morgan’s skepticism also stems from Bitcoin’s high price relative to its production cost and the price of gold. A crypto analyst from the bank, Nikolaos Panigirtzoglou has suggested that the bank’s reduction in the estimated year-to-date net flow was also due to the recent decline in Bitcoin reserves across exchanges. 

The decline in Bitcoin reserves over the past month is believed to be a result of the ongoing selling pressures and widespread BTC liquidations executed by Mt Gox creditors and the German government. As mentioned earlier, JP Morgan has predicted that this BTC sell-off will officially end in July, giving rise to a substantial bullish rally for Bitcoin in August.

Following the bank’s predictions, many crypto analysts and community members have suggested that the recent upsurge in Bitcoin’s price is the continuation of a strong bull market. 

A crypto analyst identified as ‘CryptoYoddha’ on X (formerly Twitter) has revealed that the German government was preparing to sell their remaining BTC just before the bull run. Despite the aggressive selling by the German government and the subsequent market turmoil, the analyst noted that Bitcoin still appears bullish. 

About The Ongoing BTC Liquidations

Earlier in June, Mt Gox announced that it would be making repayments to creditors in July. While the defunct Bitcoin exchange’s decision to start its repayment process comes as good news to creditors, there is also an underlying unease concerning potential Bitcoin sell-offs.

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With creditors steadily receiving part of Mt Gox’s 142,000 BTC payment worth about $9 billion, the market fears are somewhat justified as a widespread Bitcoin dump would have a major impact on the price of the cryptocurrency. In addition to Mt Gox’s substantial Bitcoin redistribution plans, the German government has also been seen selling almost 100% of its Bitcoin holdings seized from criminals. 

These substantial crypto liquidations have put a major damper on the price of Bitcoin, triggering serious price declines that have significantly delayed the highly anticipated Bitcoin bull run. A crypto analyst identified as ‘Rekt Capital’ has indicated that the Bitcoin bull market based on standard halving cycles has already advanced by 40.1%. 

Featured image created with Dall.E, chart from Tradingview.com

With the price of Bitcoin adding over 12.73% to its portfolio this week, the crypto market has started stabilizing, indicating increased price action within the crypto space. Moreover, top BTC-influenced altcoins have displayed a similar trend and experienced a massive price surge within a short period.

With the increasingly bullish sentiment in the cryptocurrency market, are you planning on investing in Bitcoin-based altcoins but are confused about their future price prospects?

Scroll down as, in this article, we have covered the top 3 altcoins that are highly influenced by the price of Bitcoin and are poised to record a massive uptrend in their respective valuations during the upcoming bull market rally.

Ordi (ORDI):

The Ordi price has displayed a strong bullish recovery by recording a jump of 3.46% within the past 24 hours. Moreover, with a positive trading week, the ORDI crypto has surged approximately 22%, resulting in it successfully retesting its crucial support trendline.

The technical indicator, MACD, has displayed a rising green histogram with its averages recording a bullish convergence. This indicates an increase in the bullish action for the Ordi coin price in the cryptocurrency market.

If the market continues to gain momentum, the ORDI price will prepare to retest its $50 mark this month. Conversely, a bearish action could result in this BRC-20 token retesting its crucial support level.

Bitcoin Cash (BCH):

Amid increased price volatility in the crypto market, the BCH price has jumped over 2% within the past day with a trading volume of $272.396 Million. Furthermore, the altcoin has surged 23.82% over the past week and has rewarded its long-term investors with a YTD of +50.01%.

The technical indicators, RSI and MACD have both displayed a significant bullish rise in their respective charts and are headed toward their upper range. This highlights a constant rise in the bullish sentiment for the BCH price in the crypto market.

If the market continues to trade under a bullish sentiment, the Bitcoin Cash price will head toward its upper resistance of $525.5 this month. However, a bearish reversal could pull the BCH coin price toward its low of $300.

SATS (1000SATS):

With the rising bullish sentiment in the crypto space, the SATS price has jumped approximately 5% over the past day and has skyrocketed 31.59% this week. This highlights a strong bullish reversal for the altcoin in the crypto space.

Moreover, with a circulating supply of 2.1 Trillion SATS tokens, and a market cap of $435.22 Million, this crypto is currently listed at the 138th spot in the global crypto list.

The Relative Strength Index (RSI) has recorded a sharp bearish curve above the neutral point. Whereas, the SMA indicator continues recording a bullish action. This highlights a mixed-price sentiment for the SATS crypto in the coming time.

If the bulls surpass their important resistance level of $0.0000002535, the STAS price will prepare to test its upper resistance level of $0.0000003845. Negatively, if the bears regain momentum, this altcoin will plunge toward its crucial support of $0.0000001225.

Binance, the world’s largest crypto exchange by 24-hour trading volume, shares a cryptic message that got members of the Shiba Inu community anticipating Shibarium support.

The image, captioned “pawsitively prepped for the next chapter!” featured a dog staring at two oranges placed on a traveling luggage. The Binance tweet triggered speculations among Shiba Inu community members, who attempted to decode its meaning.

Possible Shibarium Support

According to some SHIB enthusiasts, the cryptic message suggests that Binance could be planning to support Shiba Inu’s Layer-2 scaling solution, Shibarium. Binance potentially supports Shibarium and would enable users to deposit and withdraw assets via the L2 blockchain. 

Notably, popular community member ‘Sand’ was among those making this speculation. The X user also hinted at the possibility of Binance offering incentives relating to Shiba Inu ecosystem tokens, BONE, and LEASH.

Oh dear @binance, you teaser
Is that support for #Shibarium? Or maybe you will gift the $shib some delicious $bone and a $leash?#ShibArmy awaits! https://t.co/bCoif35uq8

— 𝑺𝒂𝒏𝒅 | Shibarium (@Sand_ShibArmy) July 15, 2024

Also, Japanese-based Shiba Inu community figure Kuro suggested that they understand the message conveyed by Binance. In an X post today, Kuro redesigned the image accompanying the Binance tweet to include Shibarium, BONE, and LEASH logos.

I see what you mean, @binance.#TreatYourSelf #Shibarium https://t.co/Z5vRwfUEWb pic.twitter.com/BZlfAiMOgp

— KUROSHIBARMY JPN (@kuro_9696_9696) July 15, 2024

Besides Shiba Inu, fans of other dog-themed tokens claimed that the exchange could be planning to support their favorite tokens, including Pawswap (PAW).

Is Binance Planning to Support SHIB Burn?

The development comes as Shiba Inu enthusiasts continue to urge Binance to support SHIB burns. It is no longer news that the community has hinted at plans to burn SHIB from leading crypto exchanges, including Binance and Coinbase.

On July 9, popular community figure Lola specifically asked Binance CEO Richard Teng to extend the exchange’s ongoing LUNC burn support to SHIB. Lola suggested that the exchange should burn SHIB using a portion of the token’s spot and margin trading fees.

The exchange has not responded to this request. Moreover, it is unclear whether the recent cryptic message relates to its plans to burn SHIB using a fraction of its trading fees.

However, Binance’s support for the SHIB burn could bolster the number of tokens permanently removed from circulation.

Data from Shibburn shows that 410,727,570,872,968 (410.72 trillion) SHIB have been destroyed via burns, leaving Shiba Inu with a total supply of 589.27 trillion tokens. The burn rate is up 30.4% over the past 24 hours to 844,269 SHIB.

Have you heard of cloud mining platforms? In this age of AI and digital currency, cloud mining has become a popular way for people to mine cryptocurrencies without needing expensive hardware or advanced technical skills.

There are many free cloud mining platforms available, making it easier for anyone to get started.

In this article, we’ll explore the 7 best free cloud mining platforms in 2024. We’ll break down what each one offers, why they’re great, and how you can start mining without spending a dime. Whether you’re new to crypto or a seasoned pro looking for new options, these platforms are a great place to start.

1. GDMining

GDMining is the top choice for the best free cloud mining platform in 2024. It’s known for being super easy to use, running smoothly, and having really strong security. Whether you’re new to mining or you’ve been doing it for a while, GDMining offers a great mining experience. They’ve got a solid setup that makes sure everyone can make good money from mining.

GDMining is famous for giving users a top-notch mining experience. They keep everything transparent and don’t have any hidden fees so you know you’re getting the most out of your mining. Plus, their customer service is excellent and they’ll deal with any issues super quickly.

Key Features

● Free Mining Contract: Sign up now and get a $50 welcome bonus for free cloud mining to start making money.

● Daily Payouts: Get your earnings sent straight to your wallet every day.

● Solid Security: They’ve got really good security to keep your info and money safe.

● Easy to Use: The whole thing is easy to navigate, even if you’re new to mining.

● Referral Program: Get bonuses for bringing in friends and family.

2. Binance

Binance is another big cloud mining platform in the crypto world. It’s got the biggest exchange for trading crypto every day. Loads of people, like around 90 million, use Binance because it’s super easy and you can mine crypto straight from your phone or computer. You can join up real quick and get more mining power through their loyalty program. Plus, you might get paid out every eight hours from your mining sessions.

Key Features

● Mine using your mobile phone, computer, or tablet for convenience and flexibility.

● Enjoy the benefit of receiving potential earnings every eight hours.

● Easily trade between a variety of cryptocurrencies.

3. BeMine

BeMine is another cool platform for mining Bitcoin in the cloud. They really care about making things easy and safe for users. You can get your hands on some top-notch mining gear to make the most profit. Signing up is easy, and when you buy your first contract, they hook you up with five days of free mining gear. You can also team up with mining hotels to earn even more without dealing with gear yourself.

Key Features

● Partner with mining hotels to increase your mining profits.

● Comprehensive handling of equipment sales and upkeep.

● Engage in trading across various cryptocurrencies.

● Access expert advice on cryptocurrency investments.

4. StormGain

StormGain is also a big website in the crypto mining sector, serving over five million peeps in more than 230 countries. They’ve got everything you need for mining crypto, whether you’re just starting out or you’re a seasoned pro. It’s a smooth experience with all the tools and perks you need to get serious about mining.

Key Features

● Start mining without the need for physical mining hardware.

● Efficient mining that doesn’t drain your device’s resources.

● Quick, hassle-free mining operations with minimal risk.

● Integrated exchange for trading various cryptocurrencies.

5. KuCoin

KuCoin Pool is another leading cloud mining platform, focusing on making Bitcoin and Litecoin chains super secure. They offer all kinds of services with top-notch tech and can help you make big bucks from mining.

Key Features

● Ensures steady mining earnings by leveraging combined mining operations.

● Provides precise data on mining power to optimize performance.

● Implements strong security measures to protect user assets and privacy.

6. DeMi

DeMi is a Tokenized Mining Platform where you can earn Bitcoin rewards using DEMI tokens. It’s all about making mining easy—just buy some DEMI tokens, stake them, and you’ll get daily BTC rewards. They’ve got over 300 ASICs and a mining pool through ViaBTC with a total hash rate of over 36,000 Th/s. Plus, they make the most profit by using cheap electricity that costs $0.05 per KW.

Key Features

● Keep track of mining activities and rewards in real time.

● Utilize low-cost electricity to enhance mining profitability.

● Earn BTC rewards daily based on your stake in the mining pool.

● Designed to be accessible and intuitive, making it ideal for beginners.

7. BitDeer

BitDeer is a cloud service and mining platform based in Singapore. They’re all about making crypto mining safe and easy for everyone, whether you’re a newbie or an expert. With BitDeer, you can focus on growing your crypto stash while they handle all the tough bits for you.

Key Features

● Easily start mining with just one click.

● Stay informed with up-to-date mining performance analytics.

● User-friendly interface for intuitive navigation.

● Choose from a variety of service plans to suit your needs.

● Access reliable support whenever you need assistance.

What is Cloud Mining?

Cloud mining is a service where individuals rent mining capacity from companies that own and manage crypto-mining equipment remotely. Instead of owning the equipment, users pay a fee to use it. They earn rewards if the rented equipment successfully mines cryptocurrency blocks.

How Does Cloud Mining Actually Work?

In cloud mining, companies operate and maintain mining equipment on behalf of users. When a mining rig owned by the company successfully validates transactions on a blockchain (like Bitcoin), both the company and the user share in the block rewards, proportionate to their investment.

Final Thoughts

That’s a wrap on the top free cloud mining platforms for 2024! It’s a great opportunity to dip your toes into cryptocurrency without investing in expensive equipment. While it might not be a full-time gig just yet, it’s an excellent way to explore the world of crypto mining. Keep in mind that free cloud mining might mean lower earnings.

Make sure to research platforms, start small to get the hang of it, be on the lookout for hidden fees, and take a long-term approach. With these tips and by choosing a trusted platform, free cloud mining can be a fun and educational gateway into the world of cryptocurrency.

(Bloomberg) — Bitcoin jumped the most in three weeks after Donald Trump’s defiant response to an assassination attempt spurred speculation that the pro-crypto former president’s chances of winning reelection have improved.

Most Read from Bloomberg

The largest digital asset rose as much as 4.9% on Monday to top $63,000. Trump said he was shot in the right ear after gunfire erupted at a rally in Pennsylvania on Saturday, an episode that sparked global condemnation of political violence and shook the US presidential campaign.

Betting markets responded by immediately boosting the odds of a victory by Trump, who has cast himself as crypto-friendly in a bid to court undecided voters. Bitcoin’s advance right after the shooting mirrored its brief rally in the aftermath of President Joe Biden’s disastrous debate performance against Trump in late June.

“The Republican party has been pro-crypto and the increased probability of a Trump presidency is a positive which is boosting crypto markets,” said Benjamin Celermajer, chief investment officer at Magnet Capital.

One key question in global markets now is whether the “Trump trade” will gain momentum, based on the argument that his return to the White House would usher in tax cuts, higher tariffs and looser regulations. The organizers of a Bitcoin conference due to be held in Nashville, Tennessee on July 27 said he’s still scheduled to address the event.

Bitcoin “gained momentum” after the attempted assassination bolstered Trump’s chances of reelection, Tony Sycamore, market analyst at IG Australia Pty, wrote in note. The token traded at $62,953 as of 8:20 a.m. in London.

Advocates of the original cryptocurrency argue it acts as a store of value and hedge against political upheaval, a contentious claim given its inherent volatility.

Meeting Miners

Trump in June met with Bitcoin miners and in a subsequent post on his Truth Social account said Bitcoin mining may be “our last line of defense against a CBDC,” referring to a central bank digital currency. He added that he wants all remaining Bitcoin to be “MADE IN THE USA!!!”

The crypto sector is trying to bolster candidates seen as favorable to digital assets, including through big donations to the Fairshake political action committee. The industry has emerged as an influential player in the 2024 election in part to push back against a regulatory clampdown spearheaded by the Securities and Exchange Commission.

Story continues

Trump’s campaign accepts donations in digital assets and a person familiar with the matter earlier said Trump discussed crypto policy with billionaire Elon Musk.

Bitcoin hit a record high of almost $74,000 in March, fueled by demand for dedicated US exchange-traded funds. The token then slipped back amid moderating inflows, apparent sales of seized tokens and fears of disposals by creditors of the failed Mt. Gox exchange.

–With assistance from Ishika Mookerjee.

(Updates with Bitcoin’s price move in first two paragraphs)

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

• Bitcoin price breaks above the descending trendline on Sunday, signaling a potential bullish momentum in the near future.
• Ethereum’s price surges above the $3,240 level, marking a shift in market structure from bearish to bullish.
• Ripple’s price breaches the daily resistance level at 0.499 on Saturday, signaling a potential bullish trend on the horizon.

 

Bitcoin (BTC) surged past its descending trendline on Sunday, suggesting bullish momentum ahead. At the same time, Ethereum (ETH) and Ripple (XRP) swiftly followed suit, breaking through their respective major resistance levels and paving the way for a bullish trajectory.

 

Bitcoin price sets for a rally following trendline breakout

Bitcoin price broke above the descending trendline on Sunday, trading 1% up at $61,365 on Monday. The trendline is formed by connecting multiple swing high levels from early June to mid-July.

If the trendline holds as pullback support around the $58,357 level, which coincides with the weekly support level, BTC could rally 9% from that level, targeting its daily resistance level of $63,956.

The Relative Strength Index (RSI) on the daily chart is trading above the neutral level of 50, and the Awesome Oscillator (AO) is on its way to doing the same. If bulls are indeed making a comeback, then both momentum indicators must maintain their positions above their respective mean levels. Such a development would add a tailwind to the recovery rally.

BTC/USDT daily chart

Conversely, if BTC closes below $56,405 and forms a lower low in the daily timeframe, it may signal persistent bearish sentiment. This scenario could trigger a 7.5% decline in Bitcoin’s price, targeting a revisit of its daily support at $52,266.

 

Ethereum price shows potential for further upside

Ethereum price broke above the $3,240 level on Sunday and, at the time of writing trades 0.87% up at $3,275 on Monday.

If the $3,240 level holds as support, ETH could increase 8.8%, targeting a retest of its daily high from July 1 at $3,524.

The Relative Strength Index (RSI) on the daily chart is trading above the neutral level of 50, and the Awesome Oscillator (AO)  is on its way to doing the same. If bulls are indeed making a comeback, then both momentum indicators must maintain their positions above their respective mean levels. Such a development would add a tailwind to the recovery rally.

If the bulls are aggressive and the overall crypto market outlook is positive, and ETH closes above $3,524, it could extend an additional rise of 5.5% to retest its daily high of $3,717 from June 9.

ETH/USDT daily chart

On the other hand, if Ethereum’s daily candlestick closes below $2,817, forming a lower low in the daily timeframe, it may signal persistent bearish sentiment. This scenario could trigger a 7% decline in Ethereum’s price, targeting a revisit of its daily support at $2,621.

 

Ripple price looks promising for the bulls

Ripple price broke above the daily resistance level of $0.499 on Saturday. Currently, it faces resistance around the $0.532 daily high level from June 5. At the time of writing, it trades 1.7% up at the $0.528 level.

If XRP closes above $0.532, it could rally 7.76% to retest its daily resistance level of $0.574.

On the daily chart, the Relative Strength Index (RSI) and the Awesome Oscillator (AO) are currently positioned above their critical thresholds of 50 and zero, respectively. These momentum indicators strongly indicate bullish dominance.

Furthermore, surpassing the $0.574 level could pave the way for an additional 12% rally to retest the next daily high, recorded on April 9, at $0.643.

XRP/USDT daily chart

However, if Ripple daily candlestick closes below $0.413, it indicates sustained bearish sentiment, forming a lower low in the daily timeframe. Such a scenario could lead to a 16% decline in Ripple’s price, targeting a revisit of its low from March 12 at $0.347.

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The overall altcoin market capitalization (all cryptocurrencies excluding Bitcoin) has been volatile for the better part of the past few weeks. The secondary crypto market, often criticized for its volatility, lived up to its reputation by posting a 20% decline within the first five days of this month before recovering strongly in the last 72 hours. However, it successfully defended the $850 billion valuation before recovering above $950 billion yesterday.

This roller coaster ride in the secondary market has been a key factor in the crypto market’s recent descent into Fear, Uncertainty, and Doubt (FUD). The bullish enthusiasm generated by spot Bitcoin Exchange Traded Funds (ETFs) approval in January has largely dissipated. Bitcoin, the largest cryptocurrency by market capitalization, was expected to hold above $60,000 for the foreseeable future before an eventual recovery in the third and fourth quarters of this year. As the altcoin market typically follows the gains of the leading digital currency, it was also expected to remain sluggish.

Altcoins Respond to Selling Pressure

However, the German government’s surprise sale of BTC and the Mt. Gox compensation payout upended the market at the end of the second quarter. Entering July cautiously, the digital currency space witnessed a dramatic sell-off, with BTC plummeting below $54,000 within a week. The secondary market fared even worse, dragged down by the slide in Bitcoin. Fortunately, both markets managed to stabilize and partially recover by the end of the second week.

Here is a graph of the altcoin market since the start of the month:

However, if we zoom out to understand the situation better, here is its graph since mid-2021:

According to popular crypto analyst Michael Van de Poppe, the altcoin market has set a long-term bottom at around $500 billion and is unlikely to test this level soon. However, the local bottom is at around $850 billion, and the bulls will likely mount their defense soon if ensuing bearish predictions are to be believed.

Further Price Corrections

At its current price of $59,900, a further drop for Bitcoin to $50,000 would also likely trigger significant losses in altcoins. In this scenario, the secondary market is expected to hold a $700 billion valuation, which could translate to up to 30% of altcoin losses. However, if the market can withstand major selling pressure, it might stabilize above $850 billion. The next resistance level sits at $1.23 trillion, reached in early April. A surge beyond this point could usher in a new altcoin season and potentially new all-time highs.

A closely followed on-chain analyst says billions of dollars worth of Bitcoin (BTC) were sent to digital asset exchanges in the last 30 days.

Analyst Ali Martinez tells his 67,000 followers on the social media platform X that Bitcoin holders moved tens of thousands of BTC to crypto exchanges last month where they could potentially be sold on the open market.

“Over the past month, 58,956 BTC, valued at approximately $3.54 billion, were transferred to crypto exchanges!”

The trader’s chart appears to suggest that traders began sending their Bitcoin to exchanges during the second week of June, when BTC was trading at around $66,000.

At time of writing, BTC is worth $60,143.

Martinez is also keeping a close watch on Bitcoin’s accumulation trend score, which tracks whether large entities are snapping up or unloading BTC. According to Glassnode, a positive Bitcoin accumulation trend score indicates that deep-pocketed investors are accumulating the crypto king.

The analyst says the metric shows that the winds are shifting in favor of BTC bulls.

“The Bitcoin accumulation trend score indicates a change in investor sentiment, with many now choosing to accumulate BTC following an extended distribution phase since April.” 

Based on the trader’s chart, it appears that Bitcoin’s accumulation trend score is hovering at 0.449.

In terms of investor attitude, Martinez notes that Bitcoin’s weighted sentiment fell to its lowest level in over four years.

“On July 5th, as Bitcoin fell to $53,300, the weighted sentiment plummeted to -2, the lowest level since the Covid-19 crash in March 2020!” 

In March 2020, Bitcoin fell below $4,000 before igniting a parabolic surge that saw BTC print a cycle high of $69,000.

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BlockDAG’s X1 Miner App Debuts on Apple Store, Presale Soars to $58M: Updates on Ethereum ETF and Dogecoin

In the dynamic realm of cryptocurrencies, recent shifts underscore notable market changes. As excitement builds for the Ethereum ETF, which may stabilize Ethereum’s pricing, Dogecoin’s latest updates reflect broader market instabilities, notably influenced by Bitcoin’s recent dips. 

Amid these variations, BlockDAG makes its mark with the pioneering X1 Miner App, which simplifies crypto mining and opens up decentralized app development to all. This innovation propelled the presale past the $58M mark, cementing BlockDAG’s status as a premier crypto investment.

Ethereum’s Price Stabilizes as Market Anticipates Ethereum ETF

Over the weekend, Ethereum struggled to break the $3,000 barrier, facing stiff resistance and settling into a tight trading range. Market players remained hopeful, purchasing on dips amidst speculation about the forthcoming Ethereum ETFs. Bloomberg analysts project these ETFs could receive the green light by mid-July, pending regulatory fine-tuning. 

Amidst these turbulent market times, spurred by factors like the US Non-Farm Payrolls report, Ethereum continues to wrestle with selling pressures even as it tries to recover from recent lows. Maintaining critical support levels at psychological barriers is vital in these uncertain times while breaking through resistance might signal a bullish shift spurred by the anticipated Ethereum ETF introduction.

Dogecoin Developments Amidst Crypto Downturn

Recent Dogecoin updates came from co-founder Billy Markus amid a general crypto downturn, notably Bitcoin’s sharp fall last week. Following a steep drop, Bitcoin made a partial comeback, currently priced around $55,860.

Markus, known for injecting humor and irony into crypto discussions, shared a metaphorical image of a sinking yacht captioned “How’s your crypto going?” with a light-hearted note “No Worries.” Similarly, Dogecoin followed Bitcoin’s pattern, experiencing a significant dip followed by a mild rebound, mirroring the overall market’s sentiment amid recent fluctuations.

BlockDAG’s X1 Miner App & Simplified Smart Contracts

BlockDAG has revamped the crypto mining scene with the X1 Miner App, now available on the Apple Store. This app turns ordinary smartphones into potent mining devices, allowing users to mine up to 20 BDAG coins daily. Activating mining is as easy as clicking the “Activate BlockDAG X1” button, yielding 0.83 BDAG per hour with minimal battery drain.

The app enhances user engagement with features like OTP verification, direct presale access to BDAG tokens, and personalization options in a comprehensive settings area. Users can also manage their profiles and maintain privacy, showcasing BlockDAG’s commitment to user security.

Its referral program amplifies potential earnings as users encourage others to join, fostering a community-centric mining endeavor. Moreover, a real-time leaderboard introduces a competitive edge among miners.

Further innovating, BlockDAG introduced a low-code/no-code platform for easy decentralized app (DApp) development. This platform enables users without technical expertise to create, develop, and deploy DApps through a simple drag-and-drop interface. These user-friendly mining and DApp development tools mark significant advancements in making elite crypto technologies and smart contract functionalities widely accessible.

Last Verdict

BlockDAG emerges as a leading investment amid current crypto conversations. While the market assesses the Ethereum ETF’s potential impact and reacts to Dogecoin updates, BlockDAG’s X1 Miner App and its no-code smart contracts platform present practical, innovative solutions for engaging with cryptocurrency. 

These offerings not only streamline mining operations but also empower users with tools for straightforward DApp creation, positioning BlockDAG prominently among top crypto investment choices. As the industry evolves, BlockDAG’s accessible and innovative solutions offer a strong argument for its growth and potential within the crypto landscape.

Join BlockDAG Presale Now:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

Bitcoin ETFs, still relevant? Are they still pertinent for your investments? While the crypto market faces ups and downs, Bitcoin ETFs have recorded a record influx, stabilizing the market and restoring investor confidence. Let’s see how these massive inflows influence the Bitcoin market and what it means for the future of key cryptocurrencies.

Record influxes of Bitcoin ETFs

Bitcoin ETFs, launched last January 10, recently experienced an exceptional day, recording an influx of 310 million dollars on July 12, the largest in more than five weeks.

This renewed interest clearly shows that investors still see Bitcoin (BTC) as a safe haven.

Among the market leaders, BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund have respectively raised over 100 million dollars, reports Farside Investors. The Bitwise Bitcoin ETF also contributed and the Grayscale Bitcoin Trust reported a rare influx of over 20 million dollars.

• BlackRock’s iShares Bitcoin Trust: 120 million dollars raised;
• Fidelity Wise Origin Bitcoin Fund: 115.1 billion dollars raised;
• Bitwise Bitcoin ETF: 28.4 million dollars raised;
• Grayscale Bitcoin Trust: 23 million dollars raised.

These impressive figures highlight the growing adoption of Bitcoin within the traditional financial system.

According to an analyst, “cryptocurrencies are increasingly establishing themselves as essential assets.”

The impact of ETFs on the crypto market

The recent massive influx of funds into Bitcoin ETFs has propelled the total market value of ETFs to 15.8 billion dollars in one week.

Actors like the VanEck Bitcoin Trust ETF and the Invesco Galaxy Bitcoin ETF have also seen inflows, respectively of 6 million and 4 million dollars.

However, some ETFs managed by Hashdex, Franklin Templeton, Valkyrie, and WisdomTree have not recorded new inflows, showing that competition remains fierce in this market.

These financial moves indicate a increased interest of investors and suggest an improvement in market conditions after recent fluctuations.

The SEC’s approval of spot Bitcoin ETFs in the United States has also contributed to this positive sentiment, paving the way for new financial products based on cryptos.

In conclusion, the record influx into Bitcoin ETFs stabilizes the market and reinforces Bitcoin’s position as a key cryptocurrency. New investment structures continue to attract investors, promising a bright future for cryptocurrencies.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

U.Today – As the price once again touches the $60,000 mark, Michael Saylor, MicroStrategy chairman and co-founder, has made a Bitcoin statement that has resonated with many in the crypto community.

In a tweet, Saylor declared, “Bitcoin is the bridge from chaos to hope.” This he posted alongside a clip from Fox Business showcasing BTC’s yearly performance compared to major asset classes. Notably from 2013 till 2023, Bitcoin has led gains among major asset classes in eight out of eleven instances, showcasing a standout performance.

Saylor’s statement comes at a time when global economic uncertainties and market volatility are prompting investors to seek alternative assets. In recent weeks, Bitcoin’s decline from its March record accelerated as concerns about Mt. Gox, the German government’s Bitcoin sales and the potential of higher-for-longer U.S. borrowing costs stoked the crypto markets.

Bitcoin reverses sell-off

Bitcoin began the past week seeing a slump that prompted fears of outflows from U.S. exchange-traded funds. Instead, dip buyers poured in funds, fueling optimism in the whole cryptocurrency market.

A net $737.5 million was added to the 11 ETFs in the four days leading up to Thursday, lifting the Bitcoin price higher after falling to lows of $53,602 on July 5.

At the time of writing, BTC had recovered its weekly losses and was up 5% in this time frame. Bitcoin was up 3.7% in the last 24 hours to $60,272, following intraday highs of $60,431. If today closes in the green, Bitcoin will mark its third consecutive day of gains.

As Bitcoin advances higher, key resistance levels for Bitcoin to monitor, according to crypto analyst Ali Martinez, are $61,340 and $64,620, meanwhile the crucial support level to watch is $57,670.

However, Bitcoin’s upward price action still necessitates a bit of caution as it trades slightly above the 200-day SMA at $59,207. Ali urges traders to wait for a sustained close above the 200-day SMA to confirm the continuation of the BTC uptrend.

This article was originally published on U.Today

Bitcoin is currently at $60,000 and attempting to reclaim the crucial range lows above the current levels. While there are positive signs, there is still more work to be done to confirm a sustained bullish trend. On Crypto Banter’s Kyle Doops Trading Show, the analyst presented a list of coins hitting key support levels, stressing that while the overall trend is downward, a shift could lead to a reaccumulation phase. 

The analyst discussed several key opportunities in the altcoin market, starting with Chainlink (LINK). He pointed out that Chainlink is poised to reclaim its range level, with the money flow increasing, indicating a potential bounce back to $18.

Moving to Ethereum (ETH), he noted that if Bitcoin were to face a rejection down to $50K, Ethereum could sweep down into its lows. This scenario would present a buying opportunity, but he emphasized he wouldn’t delve into other altcoins like Solana and Ton in this discussion.

Next was Sui (SUI), which has been aggressively downtrending but is now at a crucial support level. He explained a successful live trade on Sui, noting a 16% gain and the potential for further gains if the downtrend line is broken.

Next, he discussed Injective (INJ), which is also at a key support level around the $17-$18 mark. He suggested this zone is ideal for reaccumulation, with the potential for a move back up to $30 and eventually $45, offering over a 100% gain.

He then spoke about Aleph Zero (AZERO), which shows massive bullish divergence and is forming a significant deviation back into its range. Aleph Zero recently became EVM compatible, adding to its bullish potential. He outlined a strategy for a low-timeframe entry, aiming for a breakout above a specific level, which could lead to substantial gains.

By Yoon Ja-young

As the country’s first law on virtual asset user protection is set to take effect Friday, cryptocurrency exchanges will be obligated to monitor unfair practices in the market. The exchanges are thus making all-out efforts to establish a monitoring system.

The Virtual Asset User Protection Act includes provisions for regulating unfair trading. It specifies penalties for unfair practices in the virtual asset market and prohibits using key insider information, manipulating market prices and making fraudulent, irregular transactions. It also includes restrictions on self-issued virtual asset trading.

As the new law stipulates virtual asset exchanges’ obligation of constantly monitoring abnormal transactions, they should examine whether there is unfair trading while continuously monitoring the market. In case they detect any suspicious action, they should immediately report to financial authorities. With the enforcement of the law nearing, the virtual asset exchanges are in full swing preparing for the final stages.

Industry experts stress that the “order book information loading system” is at the core of monitoring. According to the Virtual Asset User Protection Act, exchanges should preserve trading records to monitor unfair trading. These records of virtual asset trading must include not only the name of the virtual asset and the date and quantity of the transaction but also the order book information at the time of order placement. They point out that the order book information is crucial for financial authorities to determine whether it was unfair trading.

Dunamu, which operates the country’s largest cryptocurrency exchange Upbit, for instance, has reportedly established a team in charge ahead of the implementation of the user protection law, to preemptively prepare systems. They have developed a new unfair trading monitoring system, building on their existing monitoring systems, and began operation before the enactment of the law.

Upbit became the first virtual asset exchange in the country to load order book information and preemptively develop a monitoring system where the information can be compared with specific order and transaction situations. What is notable about Dunamu’s monitoring system is that it is capable of integrated market analysis based on various data analysis tools that work simultaneously. It is designed to enable efficient communication with financial authorities, by systematically identifying and reporting suspicious transactions.

The monitoring system developed by Dunamu has been receiving positive responses within the industry as a good example. According to industry sources, Dunamu has shared its expertise in building market monitoring systems targeting Korean won exchanges and coin market exchanges at events organized by financial regulator earlier this year.

“With the enactment of the Virtual Asset User Protection Act, it will become even more crucial for exchanges to prove their compliance capabilities,” a Dunamu official said.

“We will further improve our monitoring system of unfair trading to offer a safer environment for virtual asset investors,” she added.

Open the Door to Passive Profits: BlockDAG’s X10 Miner Delivers $10 Daily at Launch, Plus Latest on XRP Prices and Brett’s Market Shifts!

The XRP price prediction continues to draw attention amid market changes, suggesting a cautious but stable future. Concurrently, Brett investors are exploring new directions due to recent uncertainties in the market. In the meantime, BlockDAG, with a presale success reaching over $57.9 million, positions itself as a frontrunner, offering strong revenue prospects through its X10 miner and a 10% referral incentive. This tactical move has enhanced investor involvement and reinforced trust, making BlockDAG a promising contender in the crypto sphere.

Stability Analysis: Reviewing XRP’s Current Market Dynamics

Amid recent shifts in cryptocurrency values, XRP’s price prediction remains a focal point reflecting broader market instability. Presently, XRP stands at approximately $0.4755, noting a minor decline of about 2% over the last week. This trend is capturing the attention of financial analysts due to XRP’s significant market valuation exceeding $26.4 billion.

Despite this downturn, technical analyses suggest a bullish pattern on XRP’s charts, indicating a hopeful future for the currency. Such patterns are commonly viewed as indicators of potential substantial increases, aligning with forecasts predicting a 30% to 40% surge following the pattern’s resolution.

Brett’s Market Evolution: The Turn to Novel AI Meme Coins

In recent developments, Brett’s market performance has led to uncertainty among its investors as it fails to reclaim its early June peak values. Brett is currently trading at about $0.16, just above its 21-day moving average, yet below the highs of $0.195 seen previously. This average performance is prompting a shift in investor sentiment.

This changing mood among Brett investors is fueling interest in alternative assets, particularly a fresh AI-themed crypto meme coin, Wiener AI. Despite its humorous sausage dog motif, Wiener AI has managed to capture investor interest, reflecting a careful exploration of new possibilities by Brett enthusiasts.

Eco-Friendly Mining for Substantial Gains: BlockDAG’s Mining Breakthrough!

BlockDAG is pioneering the crypto-mining industry with its innovative and eco-friendly mining rigs. Positioned as a leading project, it prioritizes profitability while promoting environmental sustainability. The X series mining rigs exemplify BlockDAG’s dedication to green technology, making it a preferred option for eco-conscious investors.

For newcomers to cryptocurrency mining, BlockDAG provides an excellent entry point with the X10 mining rig. This compact unit, small enough for any home setup, is impressively efficient. Despite its size, the X10 delivers a powerful 100 MH/s hash rate, capable of mining up to 200 BDAG daily. Users can anticipate a stable daily income of $10 right from the start, ensuring a quick return on investment.

Moreover, BlockDAG boosts investor engagement with its profitable referral bonus scheme. By inviting acquaintances to participate, users can secure a 10% bonus, with a straightforward dashboard for tracking these earnings. This initiative not only benefits existing members but also broadens community involvement, heightening investment interest.

Such pioneering and user-centric programs have driven BlockDAG to outstanding presale achievements, accumulating over $57.9 million, with anticipated further growth. This momentum highlights BlockDAG’s role as a top choice for both experienced and novice investors seeking significant returns in the eco-friendly crypto-mining arena.

BlockDAG: The Top Crypto Investment Prospect

While updates on XRP’s price and Brett’s market realignments keep investors alert, BlockDAG distinguishes itself as the premier crypto presale platform, having gathered over $57.9 million. With substantial daily profits from its X10 miner and a 10% referral incentive, BlockDAG’s inventive approach to crypto mining confirms its superiority as an investment option. For those eager for passive income avenues, the present is an optimal time to invest in BlockDAG’s promising future amid its profitable presale period.

Join BlockDAG Presale Now:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

Jeff Booth, the author of The Price of Tomorrow: Why Deflation is the Key to an Abundant Future, believes that Bitcoin (BTC) is the only force that follows the natural state of the free market.

In a new interview with Natalie Brunell, Booth says we should live in a deflationary world – where technology strengthens a currency’s purchasing power by driving down the value of goods and services.

According to Booth, Bitcoin is a game changer as it is the only currency in existence that can bring forth a system underpinned by abundance.

“I see Bitcoin very differently than most people do… The natural state of the free market is deflation and technology would make that deflation happen at a way faster rate – at an exponential rate – and that deflation shouldn’t be feared because what it actually is is the productivity flowing to us so that we can live abundant lives and do what we want…

Anything that stops that is not an economic system, it’s not a political system, it’s a control system that gains its strength from stealing from you… Once you understand that that is true, then as a derivative, everything else from the existing system is stealing from you.”

Booth predicts all fiat currencies will fall against BTC forever as it is the only currency designed to eradicate inflation.

“So Bitcoin stands as the only thing that I’ve found that can protect you from that. It’s not a coin. It’s a protocol bounded by energy. It’s an open, decentralized and secure protocol bounded by energy. It doesn’t care if you want to price it through currency or pieces of paper that are being manipulated. It doesn’t care, it just keeps on moving forward.

So relative to Bitcoin, all prices are falling and will forever because it’s the only free market force that is in existence and everything tethered to the other system is not. It’s a control system.” 

At time of writing, Bitcoin is trading for $60,310, up 3.69% on the day.

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The price of the largest Donald Trump memecoin MAGA (TRUMP) surged more than 30% following an assassination attempt on the former President while he was speaking on stage at a rally in Butler, Pennsylvannia. 

The Ethereum-based MAGA memecoin (TRUMP) spiked rapidly from a price of $6.31 to $10.36 immediately following the assassination attempt, seeing its total market capitalization jump from $293 million to $469 million in less than 45 minutes, per DexScreener data.

The price of several other Trump-themed memecoins also rallied on the news.

Solana-based memecoin Tremp (TREMP) jumped more than 63% in the hour following the news, while another memecoin dubbed MAGA Hat (MAGA) briefly spiked 21% within the same timeframe. 

Trump was speaking on stage at a July 13 rally in Butler, Pennsylvania when several shots were fired from an unknown direction in the crowd. 

Trump clutched his ear as shots sounded and dropped to the ground as his security detail rushed to protect him. 

Shooting just happened at The Trump rally pic.twitter.com/Xs1dVL1H3T

— Acyn (@Acyn) July 13, 2024

While being whisked off the stage by his security detail, Trump asked them to pause while he raised his fist and shouted at the crowd. 

Related: US Republicans under Trump include crypto in official party platform

An official spokesperson from Trump’s campaign told the Associated Press the former President was “fine” following the incident and that he was undergoing medical treatment at a local facility. 

“President Trump thanks law enforcement and first responders for their quick action during this heinous act,” spokesman Steven Cheung said in a statement. “He is fine and is being checked out at a local medical facility. More details will follow.”

Trump’s election odds soar on Polymarket

Speculators on the Ethereum-based prediction market Polymarket were quick to place their bets as well, with Trump’s odds of clinching a victory in the upcoming election jumping from 60% to 68% immediately following the assassination attempt, per Polymarket data. 

Meanwhile, current President Joe Biden’s predicted odds of nabbing an election victory fell in the same timeframe, falling from 30% to 15% in the last hour. 

Trump now stands as the clear favorite nominee on the prediction market, touting overall odds of 70% compared to just 15% for Biden and 9% for Vice President Kamala Harris.

Trump, formerly a skeptic of cryptocurrencies — saying on several occasions that Bitcoin was “like a scam” — has changed his tune drastically on Bitcoin and other digital assets in recent months. 

On June 14, Trump declared he would bring an end to the Biden administration’s “war on crypto” if elected President. 

This was not the first time Trump had criticized Biden for his harsh stance on crypto while on the campaign trail. On May 26, he took aim at Biden, arguing that the US must not settle for anything but the top place in the crypto industry.

Magazine: Crypto exposes sudden rift among Democrats months ahead of election

Investors eyeing exponential gains in crypto favor Tron, JasmyCoin, ETFSwap, and Polkadot as top altcoin picks.

In the dynamic cryptocurrency landscape, discerning investors seek altcoins with the potential for exponential gains. Among the plethora of altcoin options, Tron (TRX), JasmyCoin (JASMY), ETFSwap (ETFS), and Polkadot (DOT) stand out as hot picks among altcoins.

4 altcoins are great picks for investment

Altcoins offer unique opportunities and advantages that distinguish them from traditional cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Investing in Tron (TRX), JasmyCoin (JASMY), ETFSwap (ETFS), and Polkadot (DOT) now could yield significant returns as these altcoins are poised for remarkable growth. Each of these altcoins brings distinct features to the table, making them excellent investment options before they skyrocket.

ETFSwap: Leading the pack with unique utilities

ETFSwap (ETFS) stands out with its exceptional utilities and all-inclusive DeFi solutions, setting a new standard in the crypto and ETF trading space. The platform ensures that tokenized assets are backed by real-world securities purchased from traditional financial markets. ETFSwap (ETFS) integrates blockchain technology with ETFs through partnerships with MiCa-compliant regulated investment banks, bridging the gap between the TradFi and DeFi worlds.

Utilizing Ethereum blockchain technology, ETFSwap (ETFS) allows users to own and trade tokenized ETFs, offering a transparent community governance model. Security is paramount, with smart contracts audited by CyberScope, assuring investors of a bug-free, secure environment. ETFSwap’s (ETFS) high ranking among top analysts highlights its robust offerings, including commodity, leveraged, equity, spot Bitcoin, spot Ethereum, and bond ETFs among others. These tokenized ETFs can be traded with up to 100x leverage, amplifying profit returns significantly.

ETFSwap (ETFS) looks ahead to the launch of its own ETF in 2025. Its advanced trading tools, 24/7 market coverage, and AI-powered ETF Screener and ETF Tracker further solidify its position as the leading altcoin for investment returns.

Tron: Empowering decentralized applications

Tron (TRX) is a blockchain-based platform designed to build and support decentralized applications (dApps). Its high throughput, scalability, and availability have made it a favorite among developers. Tron (TRX) aims to decentralize the web by providing a platform for content creators to interact directly with consumers, eliminating intermediaries and enhancing efficiency. 

Currently, in the past 24 hours, Tron (TRX) has been trading at a competitive price of $0.00000218 with a trading volume of $ 4,734.850 million, according to CoinMarketCap, making it an attractive entry point for investors. However, while Tron (TRX) altcoin is impressive, it pales compared to ETFSwap (ETFS) in terms of infrastructure and utility.

JasmyCoin: Championing data democracy

JasmyCoin (JASMY) focuses on data democracy and security. By utilizing blockchain technology, JasmyCoin (JASMY) empowers users to take charge of their data and monetize it safely. This unique approach addresses growing concerns over data privacy and security in the digital age.

As of now, JasmyCoin (JASMY) offers substantial growth potential. CoinMarketCap data shows its price at $0.0000004 with a trading volume of $1,325.0756 million in the past 24 hours. Yet, despite its promising outlook, JasmyCoin (JASMY) cannot match the comprehensive solutions provided by ETFSwap (ETFS).

Polkadot: Facilitating interoperability

Polkadot (DOT) aims to enhance blockchain interoperability, enabling different blockchains to communicate and share information seamlessly. This unique approach addresses the issue of siloed blockchain networks, fostering a more interconnected ecosystem. Polkadot’s (DOT) unique architecture makes it a promising altcoin for investment. Coingecko data shows Polkadot’s price at $6.14 with a trading volume of $170, 363,637 million. However, despite its potential, Polkadot (DOT) does not offer the same level of creativity, utility, and investment returns as ETFSwap (ETFS).

Conclusion: Invest in ETFSwap for maximum gains

ETFSwap (ETFS) remains the best crypto and ETF trading platform for institutional and retail investors. With its current presale price set at an affordable $0.01831, now could be the perfect time to invest before the price rises to $0.03846 in the next stage. 

ETFSwap’s unparalleled value proposition puts it ahead of Tron (TRX), JasmyCoin (JASMY), Polkadot (DOT), and many other altcoins. ETFSwap (ETFS) stands out as a promising altcoin for investors looking to maximize gains in 2024. This low price presents a prime opportunity to invest in ETFSwap (ETFS) and grow with the best DeFi platform poised to change the crypto and ETF trading landscape.

For more information, visit ETFSwap’s presale website or join the ETFSwap community.

According to data on the monthly visits to the website (not including mobile app) from Similarweb and CoinMarketCap, current in July 2024, the most popular crypto exchanges are Binance, Coinbase, and Bitget. Binance leads the pack with 65.5 monthly visits, followed by Coinbase with 40.9 million and Bitget with 31.1 million.

Bybit and OKX are fourth and fifth with 30.4 million resp. 27.1 million. Rounding out the top 10 are WhiteBIT, HTX, Gate, MEXC, and Upbit.

In the first six months of 2024, the amount of Bitcoin, Tether, and Ether held by users on Bitget increased by 73%, 80%, resp. 153%, equivalent to the approximate capital inflow of $700 million. Bitget also attracted 2.9 million new users. Spot trading volume on the exchange increased from $28 billion in Q1 to $32 billion in Q2, or by over 10%. This reflects an increase in overall market trading volume and cryptocurrency adoption.

There is room for all market players

An analysis published on GitHub revealed that small and large crypto exchanges complement rather than compete against each other. Although there are more than 1,000 crypto exchanges on the market, they essentially offer the same assets to trade. In the US, there are over 100 active cryptocurrency exchanges, but just 16 for equity trading. In 2022, the top two crypto exchanges only accounted for around 14% of all Bitcoin trading volume.

How do exchanges of different sizes complement each other? When a big exchange lists a new coin, its trade volumes on small exchanges typically increase, in some cases, by up to 76%. What’s more, small exchanges list the same coins as big ones. Large exchange listings correlate with peripheral exchange listings of the same coin.

Finally, the entry of a large exchange usually leads to reduced coin prices across small exchanges, sometimes by up to 22%. This indicates that arbitrage flows across small and large exchanges might play a role.

Tether’s market share dropped by 8% in 2024

It’s estimated that USDT’s market share on centralized exchanges has declined from 82% to 74% this year. One reason could be increased competition from FDUSD and other stablecoins. FDUSD benefited from zero fees on Binance. USDC’s market share peaked at 12% at the end of June, fueled by trading volumes on leading exchanges. Interest in yield-bearing stablecoins like Paxos is also increasing.

Recent crypto market updates reveal a bullish trend in FLR crypto, showing signs of a market shift amidst a static market cap and few liquidations. Simultaneously, AAVE is experiencing an uptrend, supported by a rise in trading volumes and positive market perceptions.

At the same time, BlockDAG pioneers the crypto mining sector with its $57.6 million presale, revolutionizing mining with the X100 miner, noted for its unmatched efficiency and sustainability. As a rising star in crypto, BlockDAG’s novel strategy is set to transform digital finance.

Detailed Observations of FLR Crypto Surge

The FLR crypto market recently exhibits few liquidations, hinting at a possible bullish control. Despite the unchanged market cap and limited liquidity, the technical setup of FLR crypto displays a downtrend, creating a falling wedge pattern. This formation could lead to a breakout should FLR crypto sustain gains above this pattern on the daily charts.

Indicators like the 50-day and 200-day EMAs show a death cross, indicating past bearish movements, yet a climb above these levels might suggest a positive shift. Investors focusing on the FLR crypto surge should keep an eye on these factors for potential opportunities in a changing market landscape.

AAVE Price Amid Optimistic Trends

The AAVE token is trading with a minor intraday growth as it surpasses a significant threshold. AAVE operates as a decentralized finance platform that enables the lending and borrowing of cryptocurrencies via smart contracts. Current market trends suggest a bullish direction, with AAVE breaking above vital moving averages and forming a distinct pattern.

Analysts predict a potential surge, backed by increased trading volume and favorable sentiment indicators. Investors remain hopeful about AAVE’s price trajectory, facing notable resistance levels moving forward.

BlockDAG’s X100 Miner & Progressive ASIC Innovations

BlockDAG’s remarkable presale success, gathering $57.6 million through over 12.1 billion coins, highlights the value of early mining before the Mainnet launch to create unmatched passive income. BlockDAG’s mining sales have skyrocketed, exceeding 8742 units and bringing in an additional $3.6 million.

BlockDAG’s flagship mining innovation, the X100 miner, delivers a robust 2 TH/s hash rate while only using 1800W. This unit is more than just a tool; it’s a high-yield mining portal, producing up to 2,000 BDAG coins daily with ease. These coins are expected to yield $60,000 daily by 2030 when the price reaches $30, suitable for both hobbyists and large operations.

Designed for versatility, the X100 operates efficiently and quietly, fitting various mining settings. BlockDAG’s ASIC miners are the epitome of sustainability and efficiency, leading eco-friendly mining that minimizes resource use and device wear, achieving cost-efficiency and environmental care.

With a hybrid consensus protocol, BlockDAG boosts network safety and scalability, establishing a strong base for the blockchain ecosystem to flourish. The ASIC miners provide top-tier hashing power per watt, enhancing computational efficiency and energy savings, crucial for sustainable mining in an expected crypto boom era.

Furthermore, these miners use underclocked ASIC chips to keep ideal operational temperatures, ensuring excellent performance and dependability. This balance of cooling and power highlights BlockDAG’s commitment to dependable and innovative mining operations, setting new standards in the competitive cryptocurrency mining industry.

Final Reflections

In conclusion, BlockDAG’s X100 Miner stands at the cutting edge of crypto mining innovation. Forecasted to reach a $30 price by 2030, it’s geared up to be the next big crypto breakthrough. With powerful features like significant hashing capacity and environmentally friendly ASIC advancements, BlockDAG redefines benchmarks for sustainable and efficient mining operations. As the FLR Crypto Surge and AAVE Price developments continue, they emphasize BlockDAG’s role in revolutionizing stable passive income avenues.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

The Bitcoin price has been wavering in an uncertain trend since last weekend. The demand pressure at $55000 has managed to stabilize the prevailing bearish sentiment but the overhead supply is intact amid the German government’s liquidation of BTC. As the associated address has recently emptied its Bitcoins, a positive trend is expected in the near term.

Also Read: Bitcoin Miner Northern Data Predicts Robust Revenue Growth Amid AI Boom

Bitcoin Price Stabilizes at $53.5K Amid Easing Selling Pressure

From June 5th to July 7th, Bitcoin price experienced a steady correction where its value plunged from $71949 to $53550 registering a loss of 25.57%. The downward pressure was bolstered by a mix of negative developments such as the aggressive outflow from BTC ETFs, and Bitcoin liquidation from the fallen Mt. Gox exchange, the U.S. and German governments’ sell-offs.

The selling pressure has recently eased since the second week of July as Bitcoin (BTC) found strong support at the $53,500 level, which aligns with the lower trendline of a broadening wedge pattern. In theory, the two divergence trendlines are a sign of increasing uncertainty among market participants and a risk of prolonged downfall.

However, a bearish breakdown from the lower trendline is needed to fulfill the bearish thesis. 

A recent reversal from $53500 has uplifted the asset 9.8% to trade at $58800 while the market cap surged to $1.159 Trillion.

If the pattern holds true, the Bitcoin price prediction hints at a potential upswing of 18% to challenge the overhead trendline.

Also Read: 3 BRC-20 Altcoins to Sell as Bitcoin Fails $60000 Breakout

Moreover, Bitcoin long-term holders are increasing their holdings at the fastest monthly rate since April 2023, according to analysts from CryptoQuant. Despite the increased supply from seized coins and the Mt. Gox distributions, whale Bitcoin (BTC) holdings have grown at an impressive 6.3% rate.

#Bitcoin long-term holders are adding to their holdings at the fastest monthly rate since April 2023, per @cryptoquant_com analysts.

Whales’ $BTC holdings grow at a 6.3% rate, despite increased supply from seized coins & Mt. Gox distributions.

Demand remains strong! pic.twitter.com/i2SsHoN565

— Satoshi Club (@esatoshiclub) July 13, 2024

This significant growth in whale holdings underscores strong demand for Bitcoin, even amidst increased market supply. The robust accumulation by long-term holders and whales indicates sustained confidence in Bitcoin’s value and future potential.

An upside breakout from the channel will signal the end of correction and the potential of a major rally.

Technical Indicator 

• EMAs: With an intraday gain of 1.68%, the Bitcoin price attempts to regain 200D Exponential Moving Average acquiring the initiation signal of trend reversal.
• Vortex Indicator: The VI+(blue) and VI-(pink) slope nearing a bullish crossover indicate the bullish momentum returning to the asset.

Frequently Asked Questions (FAQs)

broadening wedge pattern is a chart pattern that occurs when the price action of an asset creates diverging trendlines, one upward-sloping and one downward-sloping,

Long-term holders in the Bitcoin market are investors who purchase and hold Bitcoin for an extended period, typically several months to years, rather than engaging in short-term trading.

The Vortex Indicator (VI) is a technical analysis tool used to identify the start of a new trend or the continuation of an existing trend in the market. It consists of two lines, VI+ (positive) and VI- (negative).

Related Articles

According to reports, the United States Securities and Exchange Commission (SEC) might conduct a crucial meeting to discuss key issues. These issues include institution and settlement of injunctive actions and administrative proceedings, resolving litigation claims, and enforcement proceedings. The back-to-back meeting has sparked speculation on potential implications for Ripple, Binance, and the crypto market.

SEC Close Door Meeting Sparks Buzz In the Crypto Community

The US SEC recently convened a closed-door meeting on Thursday, July 11 as part of normal routine to discuss key matters essential for the commission. However, another meeting scheduled next week on June 18 has sparked buzz in the crypto community, especially after the recent decision in Binance lawsuit and a major pending ruling in Ripple vs SEC lawsuit.

The back-to-back meetings prompted speculation about the potential impact on Binance, Ripple, and the crypto market. The meeting is rumored to focus on either resolving injunction claims or settlement with Ripple. Market participants are closely monitoring developments and await any outcome from the meeting.

As per the SEC meeting, Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the meeting on July 18. The matter of the SEC closed-door meeting is on topics:

• Institution and settlement of injunctive actions
• Institution and settlement of administrative proceedings
• Resolution of litigation claims
• Other matters relating to examinations and enforcement proceedings.

Notably, the SEC officials mostly discuss topics on these matters unless a change in the meeting agenda for publication in the Federal Register.

Also Read: FTX Reaches Settlement With CFTC, $4B Claim Subordinated

Recent Developments Related to Binance and Ripple

Binance achieved a major win, despite most of the arguments proceeding for further hearings. The SEC failed to prove that BNB’s secondary sales were securities, winning legal support for Coinbase and Ripple. Coinbase and Ripple Labs are using the ruling to challenge the US SEC’s regulatory stance on crypto.

As the crypto market awaits Judge Torres’ final judgment over penalties and injunction, Ripple reflects on the anniversary of the landmark summary judgment.

Meanwhile, lawyers and Ripple executives don’t believe any settlement to happen with the SEC, as reported by CoinGape. XRP price has skyrocketed 18% this week as lawyers including Fred Rispoli anticipate the verdict to come this month.

Also Read: XRP Skyrockets Over 17%, Here’s The Next Level

With crypto market gurus anticipating the Ethereum ETF listing finally coming next week, the recovery rally in the altcoins is expected to go ballistic. Further, with the high anticipation of BTC prices rising above $60K, these low-cap crypto offer massive upside potentials.

Closely linked to the Ethereum blockchain and known to amplify bullish moves, these altcoins might surge 100% next week with the Ethereum ETF approval. So, let’s take a closer look at their price chart and determine bullish entry opportunities over the weekend.

Altcoins To Watch With Ethereum ETF Listing: Floki (FLOKI)

As the Ethereum ETF is coming next week, the Ethereum-based Meme coin is a great choice for quick upside moves. Trading at $0.00014, the FLOKI price is down by 56% from the peak of $0.00032. 

Tradingview

With a potential double bottom, the ongoing lateral trend after the massive drop teases a trend reversal for the altcoin. Further, the increasing chances of a bullish crossover in MACD bolster the bullish side. 

As per the Fibonacci levels, the bull run in the FLOKI price could hit the $0.00039 mark with the Ethereum ETF listing.  

TrueFi (TRU)

With a solid support trendline at play, the TRU token price reveals a bullish cycle gaining momentum. The TrueFi token price action projects a rounding bottom reversal and reclaims the 23.60% Fibonacci level at $0.13.

Tradingview

With an intraday jump of 9.29%, the altcoin price action makes a bullish engulfing candle and teases uptrend continuation. Further, the bullish crossover in the MACD indicator bolsters the bull cycle in motion. 

Considering the uptrend continues with the Ethereum ETF listing, the TRU altcoin price could reach the $0.25 peak.

Arbitrum (ARB)

With a market cap of $2.27B, the Arbitrum price trend is on the verge of a bullish breakout in the daily chart. As the ARB token price forms a falling wedge pattern and approaches the bottleneck area, the broader market recovery could result in an upside break. 

Tradingview

Further, the MACD and signal lines gradually gain a bullish trend and alignment, the altcoin could surge almost 100% with a break. Currently, the ARB price trades at $0.7052 and is on the verge of crossing above the overhead trendline. 

With a bullish break and the Ethereum ETF listing, the ARB price could reach the $2.18 mark. 

Even with several high-profile collapses and de-pegging events in recent years, stablecoins have continued to capture market share from fiat, reflecting strong demand increasingly. Although the stablecoin market is still highly concentrated, with Tether’s USDT at the forefront, its dominance has been eroding over the last two years.

In fact, Kaiko’s latest data shows a decline in USDT market share.

Tether (USDT) is Slowly Losing Market Share

In 2024, USDT’s market share on centralized exchanges (CEXs) dropped from 82% to 74% per Kaiko’s estimates.

This could partly be due to the heightened competition from stablecoins like FDUSD, which benefited from Binance’s zero-fee promotions in addition to the increasing demand for regulated options like USDC.

By the end of June, USDC’s market share reached an all-time high of 12%, fueled by trading volumes on Binance, Bybit, and OKX. Yield-bearing stablecoins also saw increased interest, with issuers such as Paxos and Tether introducing their own alternatives in Q2 to meet this demand.

USDC Sees Increased Demand

The implementation of the MiCA regulation has driven up demand for compliant stablecoins, positioning Circle’s USDC as a key beneficiary. The French blockchain analytics firm recently identified USDC as leading the pack among regulated stablecoins.

Currently, non-compliant stablecoins constitute 88% of the total stablecoin volume, but this is expected to shift significantly due to Europe’s Markets in Crypto-Assets Regulation (MiCA), which took effect on June 30. This regulation is likely to cause market makers to favor compliant stablecoins over their non-compliant counterparts.

In response, major crypto exchanges such as Binance, Bitstamp, Kraken, and OKX have already started delisting non-compliant stablecoins, including Tether’s USDT, for European users. Kaiko’s data shows that the share of compliant stablecoins has been growing over the past year, reflecting an increasing preference for more transparent and regulated options, with USDC emerging as the primary winner in this evolving market landscape.

Discover Passive Earnings: $10 Daily from BlockDAG’s X10 Miner at Launch, and Explore XRP Price Trends and Brett’s Market Dynamics!

Amid shifting market dynamics, the forecast for XRP’s price remains a focal point, suggesting a steady yet cautious future. Concurrently, Brett enthusiasts are branching out to new options amidst the recent market unpredictability. In this setting, BlockDAG stands out, having gathered an impressive $57.6 million from presales, as a top-tier platform offering solid earning possibilities with its X10 miner and a 10% referral bonus. This strategic move has boosted investor engagement and cemented trust, marking BlockDAG as a notable player in the cryptocurrency arena.

XRP’s Market Performance

Despite the cryptocurrency market’s ups and downs, interest in XRP’s pricing forecast remains high, reflecting the broader market’s instability. XRP is priced at about $0.4755, with a slight downturn of nearly 2% in the last week. This trend has caught the eyes of analysts, especially considering XRP’s significant market cap of more than $26.4 billion.

However, the technical analysis suggests an emerging bullish pattern on the XRP charts, forecasting a potential surge of 30% to 40% once the pattern concludes, pointing to a promising future for the token.

Shift in Brett’s Market: The Move Towards Novel AI Meme Coins

Lately, Brett’s market has shown signs of wavering as the coin struggles to hit its early June peaks. Currently priced around $0.16, Brett is managing to stay above its 21-day moving average but falls short of reaching last month’s high of $0.195. This lukewarm performance is nudging some investors towards new ventures.

This change in sentiment is spurring interest in alternative investments, notably in the AI-driven meme coin, Wiener AI, despite its humorous sausage dog motif, which has captivated significant interest. This trend reflects Brett holders’ cautious yet open attitude towards new opportunities.

Harnessing Green Energy for Profitable Mining: The BlockDAG Revolution!

With its innovative and efficient mining rigs, BlockDAG is at the forefront of the crypto-mining industry. As a leading initiative, it focuses not just on profitability but also on environmental responsibility. The X series mining rigs demonstrate BlockDAG’s commitment to green technology, presenting an ethical option for eco-conscious investors.

BlockDAG presents the perfect entry point for those venturing into cryptocurrency mining with its compact yet powerful X10 mining rig. Despite its small size, the X10 delivers an impressive 100 MH/s hash rate, enabling mining up to 200 BDAG daily. Users can anticipate a steady daily income of $10 right from the start, ensuring a quick return on investment.

Beyond its top-notch hardware, BlockDAG boosts investor participation through its rewarding referral program. By encouraging friends and family to join, participants can secure a 10% bonus, with an easy-to-use dashboard to monitor these earnings. This scheme benefits current users and expands the community, enhancing the investment appeal.

Such user-oriented and innovative initiatives have thrust BlockDAG into the spotlight as the premier crypto presale platform, already raking in more than $57.6 million, anticipating further growth. This success highlights BlockDAG’s standing as the prime choice for both experienced and new investors seeking significant returns in the environmentally friendly crypto-mining sector.

BlockDAG: The Leading Crypto Investment Opportunity

While the pricing outlook for XRP and Brett’s market changes keep investors alert, BlockDAG distinguishes itself as the foremost crypto presale platform, amassing over $57.6 million. Offering substantial daily profits through its X10 miner and a 10% referral bonus, BlockDAG’s innovative approach to crypto mining cements its position as the top investment choice. For investors and miners eager for passive income opportunities, now is the perfect time to invest in BlockDAG’s bright future during its profitable presale period.

Join BlockDAG Presale Now:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

The world’s most popular cryptocurrency Bitcoin has been stuck in a consolidation phase for a record-breaking 120 days since after it hit its new ATH price of $73,083, but analysts say this sleeping giant might be about to awaken with a great comeback.

Renowned crypto analyst Captain Faibik suggests that it is on the verge of a significant breakout which will take the BTC price to $70k. 

Breakout Pattern Aim For $70k

According to Faibik, Bitcoin is nearing an upside breakout from a Descending Broadening Wedge pattern (DBW), a bullish technical pattern that typically signals a reversal in the downward trend seen in the 4-hour BTC/USDT chart. 

DBW pattern on the BTC chart indicates that the price is getting tighter and tighter. However, this pattern usually leads to a breakout in one direction or another. Considering the current market sentiment, a bullish breakout seems more likely.

Faibik’s analysis suggests that a successful breakout from this pattern could see Bitcoin surging to $70,000. This prediction comes at a time when Bitcoin has been struggling to maintain its recent gains, with the Bitcoin Fear & Greed Index plunging to an “Extreme” Fear level.

German Government’s Bitcoin Sales

In recent days, demand from inflows into spot Bitcoin exchange-traded funds (ETFs) and selling pressure from Bitcoin sales by the German government have been balancing each other out, effectively stalling Bitcoin’s price.

The German government has sold all of its 50,179 Bitcoins, worth approximately $3.3 billion over the past 24 days, which were initially seized from an online piracy website.

Meanwhile, in the last 24 hours alone, the German government transferred 9,594 Bitcoin, valued at $553.7 million, and received 500 Bitcoin, worth $28.6 million. As of now, the German government holds no Bitcoin.

Bitcoin Price Performance 

Bitcoin (BTC) prices saw a brief surge following cooler-than-expected June inflation data but failed to break the crucial $60K mark. Initially, Bitcoin’s price rose above $59,000 after the report, but it has now settled to trade just above $58,119.

Read Also: Altcoin Season Soon: List of Altcoins To Stack For 20x Gains

The crypto prices today have ignited considerable investor optimism, regaining an upside movement. Bitcoin (BTC) price briefly touched the $58K mark once again, while top cryptos Ethereum (ETH), Solana (SOL), and others followed, experiencing significant gains. Intriguingly, XRP witnessed an upsurge worth nearly 9%.

Meanwhile, the global crypto market cap saw a slight 1.10% increase in value to $2.14 trillion today. However, the global crypto market volume decreased 18.06% from yesterday to $56.45 billion.

Here’s a collection of some of the top crypto prices today, July 13.

Top Crypto Prices Today

Bitcoin Price

BTC price reattained an upward trajectory today, primarily against the backdrop of continued inflows in the Bitcoin ETFs. The flagship crypto’s price rested at $57,859.88 today, up 1.31% from yesterday. BTC’s daily bottoms and tops were $56,740.53 and $58,532.55, illustrating a brief trading session above the $58K level.

Meanwhile, data by Soso Value showcased $190.17 million in inflows in BTC ETFs as of July 12, Friday. It’s worth mentioning that this week, the Bitcoin exchange-traded products recorded nearly $1 billion worth of inflows.

Bitcoin’s market cap rested at $1.14 trillion today.

Ethereum Price

The ETH price chart showed a 1.21% upswing at press time to rest at $3,124.31. Ethereum’s 24-hour lows and peaks were recorded as $3,048.51 and $3,157.56, respectively.

It’s worth citing that the Ethereum gas fees have dropped to their lowest level since May 2024, indicating inactivity on the network amid a looming ETF launch. Ethereum’s market cap rested at $375.91 billion today.

Solana Price

Over the past day, the SOL price witnessed a 1.55% upswing to reach $139.23, aligning with the broader market trend. Solana’s 24-hour lows and tops were $134.16 and $140.47, respectively.

XRP Price

The XRP price rallied phenomenally in the past 24 hours, gaining 9.01% at press time to trade at $0.4982. The Ripple-backed asset’s 24-hour bottoms and tops were $0.4489 and $0.4945, respectively.

DOGE & SHIB Prices

Falling in line with the broader trend, Dogecoin (DOGE) witnessed a 1.74% increase in value and is currently trading at $0.108. Similarly, Shiba Inu (SHIB) rose 3.36% to reach $0.00001667 today.

However, Pepe coin continued a turbulent movement, down 0.34% to $0.000008785.

Top Crypto Gainers Today

Ronin (RON) price rallied 10.50% to $2.15.
ORDI price surged 11.65% to $33.90.
Bitcoin Cash (BCH) saw a 7.40% increase in value to $376.98.
Even XRP emerged among the day’s top gainers with its phenomenal gains.

Also Read: Crypto Stocks Rebound as COIN, MSTR, and MARA Soar

Top Crypto Losers Today

Safe (SAFE) price witnessed a pullback of 5% to rest at $1.42.
Sei (SEI) price dipped 3.94% to reach $0.3117.
Ethereum Name Service (ENS) price slipped 2.91% to $25.75.
Arweave (AR) price tumbled 2.76% to $23.88.

Besides, upon gauging in on the hourly time frame charts, it can be seen that BTC and ETH prices waned by 0.21% and 0.23%, respectively. The tokens are still battling market bears, hinting that price volatility may be expected moving ahead. Nonetheless, the crypto price today continue to glimmer hope among crypto market participants, resting in the green zone.

Also Read: Ripple CEO Garlinghouse Reflects on SEC v Ripple Lawsuit Anniversary

After hitting a four-year low, XRP (XRP) appears on the brink of a comeback against the Bitcoin (BTC) trading pair. Fueling this optimistic turnaround is the emergence of a classic bullish pattern, namely the triple bottom formation.

XRP eyes a 30% rebound versus Bitcoin

A triple bottom pattern develops when the price forms three distinct lows, all reaching a similar price level, thus indicating strong support.

After the third low, the price breaks above the neckline resistance level formed between the lows and, as a rule of technical analysis, rises by as much as the maximum distance between the pattern’s lowest point and the neckline.

As of July 12, the  XRP/BTC pair was testing its neckline support of around 793 satoshis (1 satoshi = 0.00000001 BTC) for a potential breakout.

Additionally, the pair’s weekly Relative Strength Index (RSI) reading of around 36 indicates that XRP is undervalued versus Bitcoin, further boosting its recovery potential in the coming weeks. That said, a decisive close above 793 satoshis will likely push XRP/BTC toward its triple bottom target of around 1,055 satoshis.

Conversely, a pullback from the neckline resistance, akin to similar retreats in recent history, risks pushing XRP/BTC toward its local bottom of 664 satoshis—down by over 15% from the current prices—by August.

Bitcoin’s 20% drawdown benefiting XRP price

XRP’s renewed strength versus Bitcoin primarily comes in the wake of the German government’s relentless selling of its BTC holdings in July. For context, the wallets associated with the government have witnessed 46,200 BTC in outflows since mid-June, amounting to around $2.69 billion worth of potential sell-pressure.  

Furthermore, the ongoing reimbursement of over 140,000 BTC to Mt. Gox creditors has reduced traders’ appetite for Bitcoin with the XRP/BTC pair up over 20% in July.

Related: Buying the dip? Bitcoin institutional investors add 100K BTC in a week

Bitcoin dominance overall has slipped to 54.55% on July 12 from highs of 55.46% a week ago, suggesting that traders could be rotating into altcoins while the BTC price consolidation period plays out. 

Looking broadly, XRP is relatively underbought versus most of the top-ranking crypto assets so far in 2024, with its year-to-date returns sitting around -26.50%.

The weekly Relative Strength Index (RSI) for XRP/BTC is rebounding after hitting its lowest level in two years at around 33, just three points above the oversold threshold. Historically, when XRP’s weekly RSI last reached 33, it was followed by an impressive 194% rally, suggesting a potential for significant upward movement this time as well.

In comparison, BTC’s weekly relative strength is in a correction mode, having declined from a very overbought level of 88 in March to a neutral level of 45.50 as of July 12.

This decline indicates that Bitcoin’s bullish momentum has significantly weakened in the past two months, which may benefit “underbought” big-cap altcoins like XRP in the coming weeks. XRP may reap additional benefits from the growing buzz around its “inevitable” exchange-traded fund (ETF) launch. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

• Criminals are increasingly using crypto
• Non-crypto-related criminals use it to launder money
• Most criminals use centralized exchanges to cash out. 

Crypto has redefined digital transactions, offering privacy and freedom from intermediaries like never before. However, since its inception, criminals have used these features to evade authorities.

Most recently, as crypto has grown in popularity, criminals are using it more often to launder money from illegal sources. This is making regulators scramble to crack down on this new financial loophole. 

Crypto Increasingly Used in Crime for Money Laundering 

As crypto is becoming more popular, so are its illicit uses. On Thursday, July 11, Chainalysis released a comprehensive report about the increased use of crypto for money laundering. 

Criminals are using its borderless nature to obscure the origins of their illicit funds. Since 2019, nearly $100 billion has been sent from known illicit wallets to conversion services, with $30 billion recorded in 2022 alone.

The trend is not just limited to crypto-native criminals, like crypto hackers or scammers. According to Chainalysis, even criminals from outside crypto are now using sophisticated techniques for money laundering. 

How Crypto Money Laundering Works

The key phase of money laundering is called layering. This means moving funds through long transactions to obscure their origins. This process uses mixers, cross-chain bridges, and intermediary wallets, all of which make transactions harder to trace. 

Crypto mixers, originally intended as a privacy-protecting tool, have seen significant growth from 2023 to 2024. According to Chainalysis, this growth is at least in part due to their criminal use. This includes the popular Tornado Cash mixer, which saw a notable decline after US authorities shut down its website in 2022. Now, the decentralized Tornado Cash protocol is recovering. 

After that step, criminals often transfer these assets through cross-chain bridges, further obfuscating their origins. In January 2024 alone, nearly $234 million in illicit funds were moved through these bridges, driven largely by transfers from mixers like Tornado Cash.

The final step is to convert the laundered crypto to cash. According to Chainalysis, the most popular method for this is using centralized crypto exchanges. Over 50% of the illegal transactions they uncovered made their way to centralized exchanges. 

Criminals Also Use OTC, Monero

Other than centralized exchanges, criminals also use over-the-counter (OTC) brokers. These intermediaries facilitate large trades between two parties. While most operate legitimately, some require no Know Your Customer (KYC) procedures, making them attractive to criminals. 

According to the report, in 2024, cybersecurity firm Cloudburst identified several China-based OTCs operating through Telegram channels. These OTCs facilitated the movement of large amounts of stolen USDT, with daily transfers exceeding three million USDT.

Many criminals also use the privacy coin Monero (XMR), which has sophisticated features such as ring signatures, stealth addresses, and more. These make it extremely difficult to trace transactions on the Monero blockchain. Even terrorist-affiliated entities, including those linked to the Islamic State in Khorasan, advertise Monero donation addresses.

In response to these criminal activities, regulators worldwide are taking steps to strengthen AML and KYC procedures. Notable examples include the European Union’s Fifth Anti-Money Laundering Directive (5AMLD), which extends AML requirements to Virtual Asset Service Providers (VASPs). The United States, Singapore, the UK, and others are taking similar measures. 

On the Flipside

• Criminals are always looking for new techniques to hide their activities, so regulators must continue to innovate to stay ahead. 
• There is also a risk of regulatory overreach, where stringent measures may stifle innovation within the crypto industry.

Why This Matters

Crypto’s association with criminal activity hurts the industry, especially when it comes to regulation. Ensuring that the technology is available for legitimate use requires that protocols deter criminals in some way. 

Read more about how DEX can become competitive: 
DEX Issues Plague Solana, but There’s a Fix: Stabble CEO

Read more about privacy and compliance: 
Unpacking Privacy Pools: Can They Ensure Compliance? 

Dogwifhat’s price appears to be emerging from its consolidation phase, indicating a possible upward trend, according to the most recent crypto updates. Meanwhile, Marathon Digital expands its operations to include Kaspa mining, a strategic move following challenges from the Bitcoin halving. 

Moving forward, we delve into BlockDAG‘s recent developments: its presale successfully raised over $57.6 million from selling over 12 billion coins. This strong support positions BDAG as a top cryptocurrency for purchase and mining, with a notable performer being the X100, generating impressive figures to be discussed in detail.

Dogwifhat Price Poised for Significant Growth

The outlook for Dogwifhat’s price is highly optimistic following its recovery from a consolidation phase. Analysts predict a robust upward trajectory, potentially pushing Dogwifhat beyond its previous peak. 

Technical analysis suggests substantial gains in July, offering considerable profit potential for current investors. CoinCodex supports this bullish sentiment, projecting significant growth for Dogwifhat by the end of July. This momentum underscores its history of explosive growth, presenting an attractive opportunity for market followers.

Marathon Digital Expands Kaspa Mining Operations

Marathon Digital strategically diversifies its revenue streams by integrating Kaspa mining into its operations, responding to challenges posed by the Bitcoin halving. Kaspa utilises the GHOSTDAG protocol for concurrent block mining, offering faster transaction speeds and increased block rewards compared to Bitcoin. 

This strategic shift leverages Marathon’s infrastructure and computational expertise in digital assets, aiming for robust profitability with substantial margins from Kaspa ASICs. Currently operational in Texas, Marathon plans to expand its Kaspa ASICs further by Q3 2024, emphasising its commitment to expanding mining capabilities beyond Bitcoin.

BlockDAG’s X100 Miner Maximises Returns

The recent surge in BlockDAG miner sales, contributing $3.6 million in revenue and distributing over 8,700 units, highlights growing enthusiasm for the X100’s capabilities. This surge follows BlockDAG’s successful presale, raising $57.6 million from selling over 12 billion coins, reflecting community confidence in the network’s value and positioning BDAG as a top new cryptocurrency. 

The X100 miner stands out with advanced specifications, boasting a hash rate of 2 TH/s and a power consumption of 1800 watts. Designed for both individual miners and large-scale operations, it can efficiently mine up to 2,000 BDAG coins daily, potentially earning $100 daily at the initial mainnet launch price of $0.05 per coin.

With a projected price of $20 per BDAG by 2027, daily earnings for X100 users could reach $40,000, showcasing its substantial income potential. Equipped with advanced ASIC technology, the X100 emphasises computational power, energy efficiency, and profitability. Its scalable design enables miners to adapt to evolving market conditions, making it a robust investment for serious crypto-mining enthusiasts.

BlockDAG’s X100 Transforms Investors into Millionaires

Amid positive forecasts for Dogwifhat’s price and Marathon’s expansion into Kaspa mining, BlockDAG solidifies its position as a top cryptocurrency to acquire. With the X100 miner’s impressive profit potential, BlockDAG revolutionises crypto mining by offering significant daily earnings projected to reach $40,000 by 2027. Its profitability and scalability make it ideal for investors seeking advanced mining technology and strong market growth.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Following weeks of transfers that rapidly accelerated starting Monday, the German government has fully cleared its Bitcoin wallets as of Friday afternoon, according to on-chain data curated by analytics firm Arkham Intelligence.

Germany has sent billions of dollars worth of Bitcoin to exchanges and market makers in recent days, with the apparent intention to liquidate the assets seized from criminals. While some of the funds have indeed come back to Germany’s wallets following movements out, this is the first time that the wallets have been completely emptied.

The government wallets held about $3.4 billion worth of Bitcoin one month ago, with about $2.9 billion as of July 1. Germany’s transfers to exchanges really began in earnest on Monday, however, when the wallets still held $2.2 billion in Bitcoin. Now they’re empty.

Germany has sent funds to exchanges like Coinbase, Kraken, and Bitstamp, as well as to Cumberland and other market makers. While the moves don’t necessarily mean that the funds have been sold into the market, as seen with previous transfers back from exchanges to its wallets, it does suggest that the government intends to sell the assets.

Fears that billions of dollars worth of sold Bitcoin would tank the leading cryptocurrency’s price appear to have been relatively unfounded. Bitcoin is now up 3% on the week, including 1% over the past 24 hours, at a current price of about $58,300 as of this writing.

Editor’s note: This story was updated after publication with additional details.

The crypto market is currently experiencing significant turmoil, leaving many wondering if the end is near. According to Rekt Fencer, the founder of X Dao, the crypto community is in a stage of depression, similar to the market’s state back in June 2023. 

Despite the prevailing sense of doom, a closer examination of recent data uncovers potential indicators of recovery. Over the past few months, altcoin prices have plummeted by 30% to 70%, leading to widespread investor pessimism. Nevertheless, emerging trends suggest that a market rebound might be on the way.

Echoes of June 2023

The current market sentiment closely resembles that of June 19, 2023, when major cryptocurrencies were also in a downturn. On that date, the total market capitalization stood at $1.063 trillion, with Bitcoin priced at $26,500, Ethereum at $1,700, and Solana at $15.40.

The crypto market is in freefall.

Is it game over?

Not so fast.

I’ve dug into the data and found something big.

: When and why the market will turn around pic.twitter.com/xEgYEzMVbn

— Rekt Fencer (@rektfencer) July 11, 2024

These figures are comparable to the depressed levels we see today. According to Titan of Crypto, this situation might signal a significant bear trap.

Factors Behind the Drop

Several factors have caused the recent market drop. These include Germany selling its Bitcoin, the release of Bitcoin from the Mt. Gox settlement, and Bitcoin miners selling their holdings to stay profitable. Despite these issues, major investors are holding onto their Bitcoin, showing strong long-term confidence in the cryptocurrency

Bullish Indicators

Bitcoin’s dominance, which shows its market share compared to other cryptocurrencies, has shown signs of a possible bullish trend. Although the $58,000 support level was lost, the $50,000 level may provide a cushion. Market sentiment usually rebounds when Bitcoin is seen as too expensive, suggesting that a turnaround could be near.

What’s Boosting the Markets?

Several upcoming events and factors could trigger a market recovery. Miner capitulation could signal a trend reversal as miners stop selling their holdings. Also, the potential approval of an Ethereum ETF could bring new interest and investment to the market. Changes in stablecoin liquidity, especially USDT, are also important indicators of market demand.

Looking ahead, global liquidity is expected to change in Q4 2024 and early 2025, which could positively impact the crypto market. Comparing this to the summer of 2020, when altcoins surged after a dip, suggests we might be on the brink of a similar bull run.

Meanwhile, by focusing on long-term trends and upcoming events, investors can better handle the current volatility and prepare for possible gains.

Also Read: Strategies to Identify Altcoins Capable of Yielding $1 Million in Returns

Algotech is a cutting-edge trading platform supporting cryptocurrency trading across over 10,000 trading pairs. The platform leverages artificial intelligence and machine learning to give traders a competitive edge. Additionally, Algotech reduces risk by monitoring market funding levels, availability, liquidity, and spread.

ALGT token holders are entitled to a percentage of platform trading fees, governance votes, and future airdrops. Algotech’s presale has already raised $9.48 million, with 158.80 million ALGT tokens sold to 10,000 unique holders. The platform sold out its presale stage 2 in record time, raising $650,000 in a single day.

The platform’s key features, including breakout detection, hedging, and high-volume arbitrage, provide traders with sophisticated tools to maximize their trading potential.

After a selling spree spanning the better part of three weeks, the German government’s bitcoin holdings have dropped under 6,400 BTC.

The German government’s criminal investigation unit Bundeskriminalamt, or BKA, sent shockwaves through the crypto market when it started unloading its stash of 50,000 bitcoin last Wednesday.

Wallets tied to the BKA moved $600 million worth of bitcoin on June 19, sending at least $195 million to crypto exchanges. Since then, the BKA has moved nearly all of its $2 billion stash to new wallets and crypto exchanges, resulting in the price of bitcoin dropping from $65,000 to around $57,000 at the time of writing.

As of July 8, the German government’s transfers had led to bitcoin reserves on crypto exchanges reaching multi-year lows. Exchanges monitored by CryptoQuant held $156.6 billion worth of bitcoin reserves – the lowest number of tokens since November 2018.

While the BKA’s activity sent the price of bitcoin lower, it is worth noting that bitcoin recovered some of its losses, gaining 5% over the last seven days. Selling pressure from the German government might also be close to the end, as data from Arkham shows that the BKA wallet is down to its last 6,394 BTC, worth $366 million at current prices.

Still, the wallet’s activity hasn’t been all that straightforward – sometimes the transfers to unlabelled addresses and exchanges have ended up back in the BKA’s main wallet address. This suggests that the entity is likely testing liquidity across exchanges before executing sell orders.

With the known threat of sell pressure from the BKA looming each day, it is no surprise that traders have turned cautious, evidenced by the market sentiment indicator the “Fear and Greed” index which dropped to the “extreme fear” region on Thursday.

According to one crypto market analyst, a high fear index could signal an optimal entry point for bitcoin. 

“One of the best metrics for identifying optimal entry points in a bull market is when short-term Bitcoin holders sell at a loss and the fear index is ridiculously high (which has been happening in recent weeks),” said CryptoQuant analyst elcryptotavo.

“In contrast, previous market peaks have been signaled by long-term holders taking significant profits over numerous months, which hasn’t happened yet.”

Tyler Hill Breaks Down BlockDAG’s Keynote & Revolutionary X1 Miner App! Latest on OKB and STX Prices

In the bustling crypto market, BlockDAG stands out, having impressively raised over $57.4 million through its presale. This remarkable feat, highlighted by influencer Tyler Hill, positions BlockDAG among the leading crypto gainers. It draws significant attention amidst the fluctuating OKB crypto value and the climbing Stacks (STX) price. Through groundbreaking technologies and strategic efforts, BlockDAG is revolutionizing crypto mining with the X1 Miner App, delivering unparalleled security and scalability.

OKB’s Prospective Surge Amid Strategic Moves

Recent activity has introduced volatility to OKB’s crypto value, with notable movements in OKX wallets due to buy-back and burn strategies. This strategic action could trigger a long-term rally for OKB.

Technical analysis shows a positive outlook, with OKB trading above its 200-day EMA and eight indicators signaling a buy.

Given these favorable signals, experts predict OKB’s value will rise by Q2 of 2024. Investors consider OKB a promising asset, supported by advantageous market conditions and strategic initiatives.

STX Price Rises 

Despite Bitcoin’s recent struggles and declining dominance, Stacks (STX) has surged, reaching new levels after stabilizing around lows. This bullish momentum, with STX gaining 25% since June 2024 lows, reflects growing interest and a 70% increase in trading volume over the past 24 hours.

This surge is partly due to Stacks’ integration with the Pyth Network, enhancing its decentralized applications (dApps) with over 300 price feeds. The upcoming Nakamoto upgrade promises further improvements, boosting smart contracts and platform scalability. STX’s resilience and strategic advancements position it favorably in an evolving market and increased interest in Bitcoin-related projects.

 

Tyler Hill Reviews BlockDAG’s Mining Advancements

Tyler Hill, a prominent influencer, spotlights BlockDAG’s impressive presale performance in his video. BlockDAG raised over $57.4 million by selling more than 12.05 billion coins, underscoring its position among the top crypto gainers. Hill’s review of Keynote 2 described it as a seminar unveiling BlockDAG’s advanced technology.

BlockDAG’s strength lies in its Directed Acyclic Graph (DAG) implementation, enabling multiple operations simultaneously with optional disk persistence, ensuring data integrity across sessions. This seamless integration enhances speed and security, improving mining scalability and efficiency.

Recent miner sales added another $3.6 million to revenue, with over 8700 units distributed. The unique DAG-based Proof of Work (PoW) consensus mechanism bypasses traditional mining, allowing immediate transaction confirmations and significantly boosting scalability.

Furthermore, Phase 1 of the X1 Miner app’s development has just concluded, marking a major milestone. The X1 miner will revolutionize crypto mining with features like Wireframe & UI Designing, User Onboarding, and Presale functionalities.

Upcoming features include Wallet, Send/Receive modules, and a Community Section, all designed to enhance user experience and earnings before the mainnet launch. Hill’s insights suggest that BlockDAG’s combination of security, scalability, and innovation heralds a new era in crypto mining.

Last Call

OKB and Stacks may experience price variations, but BlockDAG consistently leads the crypto landscape with significant growth and cutting-edge innovation. It’s distinctive DAG-based technology and successful presale position it among the top crypto gainers. Influencer endorsements and robust market performance indicate that BlockDAG is on track to transform the future of cryptocurrency mining, garnering increased attention and investment. Now selling at batch 19 for $0.014, it’s the ideal time to invest in this crypto.

Join BlockDAG Presale Now:

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

Bitcoin integrates for the first time with French Retirement Savings Plans (PER) thanks to the innovative alliance between VanEck Europe and Inter Invest. This strategic partnership introduces a Bitcoin ETN into the PER, offering savers unprecedented exposure to the main crypto.

A groundbreaking partnership to diversify retirement savings

The landscape of retirement savings in France is experiencing a true revolution. VanEck Europe, an internationally renowned asset manager, is partnering with Inter Invest to introduce the first Bitcoin ETN in a French PER. This initiative offers savers an opportunity for diversification, thereby combining financial innovation and security.

The VanEck Europe Bitcoin ETN, with its 387 million dollars of assets under management, stands out for its robustness. Fully backed by genuine bitcoins held by a regulated custodian, it ensures secure exposure to the leading crypto.

Jean-Baptiste de Pascal, Deputy General Manager of Inter Invest, highlights the importance of this collaboration: “This partnership perfectly fits into our overall strategy of democratizing innovative financial assets”. 

This strategic alliance meets a growing demand from investors for both diversified and modern savings options, thus paving the way for a new era in retirement savings management in France.

Bitcoin: Between opportunities and challenges for savers

The introduction of bitcoin into PER opens up new perspectives for French savers. Martijn Rozemuller, CEO of VanEck Europe, explains: “At VanEck, we are convinced that bitcoin is a long-term innovative asset. Its current volatility thus reflects a phase of value-seeking, typical of emerging assets.”

Investors should consider bitcoin as a complement to their retirement savings strategy, rather than a substitute for traditional assets. The VanEck Bitcoin ETN offers controlled exposure, allowing savers to diversify their portfolio while minimizing the risks associated with directly holding crypto.

In summary, this initiative by VanEck and Inter Invest marks an important step in the evolution of retirement savings in France. By integrating bitcoin into PER, these companies are paving the way for the modernization of the financial sector while meeting the expectations of a new generation of investors.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

The cryptocurrency market is currently in a state of calm, creating a sense of anticipation among investors. Altcoins, which have seen significant drops, are poised for a potential breakout. Enthusiasts are speculating about an imminent bull run that could send prices soaring. Ethereum, in particular, is generating buzz with predictions of reaching the $10k mark soon. This article delves into the altcoins that are ready for explosive growth. The focus is on identifying those hidden gems that could generate substantial returns. The current low prices offer a unique opportunity for savvy investors. Which coins are primed to take off? Keep reading to discover the potential winners in this thrilling market landscape.

BlastUP Unveils Blastbox V2: A Goldmine of Benefits for Early Investors

BlastUP, the premier launchpad on the Blast blockchain, has unveiled Blastbox V2, fresh on the heels of an $8 million presale success. This launch offers investors another chance to get $BLASTUP tokens at presale prices, loaded with a host of perks including $BLASTUP tokens and Booster Points. As experts forecast potential returns of up to 1000%, early acquisition of BLASTUP tokens could prove to be a savvy investment.

Blastbox V2 is a gateway to exclusive privileges within the BlastUP ecosystem. Owners are set to enjoy benefits like NFT and token airdrops, membership in the exclusive BlastUP Club, and priority access to Initial DEX Offerings (IDOs).

Unlock the Full Potential of Blastbox V2

Securing a Blastbox V2 is the final opportunity to access BlastUP at the most advantageous price. The platform has already made a significant impact within the Blast blockchain, achieving 4 successful IDOs.

For those on the hunt for the next big crypto opportunity, Blastbox V2 is the answer. With only 9999 units available at launch and packed with unparalleled utility, these limited-edition loot boxes are set to sell out swiftly.

Act Now: Secure Your Blastbox V2 Before They’re Sold Out!

Toncoin Holds Strong Amid Market Volatility, Shows Potential for Bullish Surge

Toncoin (TON) is currently trading between $6.22 and $8.01, reflecting some resilience even as the market experiences turbulence. Bulls seem poised for a comeback, with the nearest resistance level at $8.98. If Toncoin breaches this level, it could climb to the second resistance at $10.77, marking a significant rise. Despite a recent drop of about 9% over the past week, Toncoin has shown an impressive gain of over 237% in the past six months. With the RSI at 39.31, indicating it’s not yet overbought, and a MACD near neutral, there’s potential for upward momentum. If bullish patterns from 2021 repeat, Toncoin might see considerable growth soon.

Celestia (TIA) Shows Resilience Amid Market Swings, Eyes $7.33 Target

Celestia (TIA) is showing hopeful signs, sitting in the $4.08-$6.21 range. Its recent 1-week price surge of over 31% suggests a potential reversal despite a rocky month. Bulls appear to have some strength as TIA approaches its nearest resistance level of $7.33. Breaking past this could open doors to the next resistance at $9.46, a potential upside of over 50% from current levels. With a Relative Strength Index of 52 and steady MACD levels, Celestia holds promise. Eyes are on the $6.99 10-day simple moving average, which, if surpassed, could indicate stronger bullish momentum ahead.

Mantle (MNT) Shows Signs of Bullish Reversal Despite Recent Price Drops

Mantle (MNT) is currently trading between $0.54 and $0.76, but the bulls might be regaining strength. With its 10-day simple moving average slightly above its 100-day average at around $0.69, and the RSI at 77.79 suggesting it’s nearing overbought territory, momentum could shift upwards soon. If MNT can break past the $0.90 resistance level, it has the potential to rise nearly 50% to the next resistance at $1.13. Current indicators and past patterns hint at a promising growth phase despite recent price slides.

Conclusion

Among the highlighted coins, TON, TIA, and MNT show potential but are expected to have slower growth in the near term. In contrast, BLASTUP stands out with the highest potential for rapid growth. Its strong concept and integration into the Blast ecosystem make it a promising investment.

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Fears over the German government’s ongoing liquidation of seized Bitcoin has ignited a 25% drop from its highs.

But Jan Sell, managing director of Coinbase Germany, says not to panic.

Selling “isn’t a particularly anti-crypto move,” he said in an interview with DL News. “It’s not an investment for them. It’s like, if they impound a car or something from people, then at some point they need to get rid of it.”

In January, Germany’s central criminal investigation agency seized 50,000 Bitcoin from Movie2k.to, a film piracy website found guilty of money laundering and other illegal activities.

The German government has transferred 40,000 Bitcoin, valued at around $2.3 billion, to various crypto exchanges — including Coinbase.

Sell said that the Bitcoin Coinbase has sold on behalf of the German government is “not a huge amount,” in terms of the volume the exchange generally sees.

He revealed that Michael Saylor’s MicroStrategy — which holds about $13 billion in Bitcoin — has bought “similar kinds of volumes” over a single weekend.

Still, the selling has certainly shaken investors.

The Crypto Fear and Greed Index, a measure of market sentiment, fell to 26 out of 100 — its lowest reading since January 2023.

And Germany isn’t the only country sitting on confiscated Bitcoin.

Onchain data compiled by Arkham Intelligence shows the US government holds over $13 billion of seized Bitcoin, while authorities in the UK hold around $3.6 billion.

Governments have previously sold confiscated crypto directly to buyers at auction. But for larger amounts it’s not easy to find bidders, leaving them no alternative but to sell the crypto on the open market.

The worry among investors is that if more governments decide to cash in their confiscated crypto, it could rock the market further.

‘Other big sales’

Since the German government started selling its Bitcoin on June 19, the top cryptocurrency has struggled to recover.

Sell said he doesn’t think the German government’s selling is wholly responsible for the drop, though.

“There’s a few other big sales going on at the moment,” he said without elaborating.

One worry is the distribution of Bitcoin from Mt. Gox, the Japanese crypto exchange that was hacked in 2014.

The defunct exchange is expected to return over 140,000 Bitcoin, worth some $8 billion, to victims this month.

Many recipients are expected to cash out.

Since Mt. Gox suspended trading over 10 years ago, Bitcoin has risen over 10,000%.

Tim Craig is a DeFi Correspondent at DL News. Got a tip? Email him at tim@dlnews.com.

The push for eco-friendly crypto mining reflects a broader commitment to environmental protection within the tech industry. BlockDAG has embraced this movement, producing energy-efficient mining units rapidly selling out. With over 8800+ units sold, the demand for BlockDAG’s eco-conscious X30 miners, designed to minimise environmental impact while maximising daily earnings, is clear. Meanwhile, Lido’s partnership with Mellow Finance and Symbiotic has driven its price surge, and ONDO’s bullish signal strong potential. As the spotlight shines on BlockDAG, it emerges as a promising crypto gem for 2024.

Lido: Strategic Partnerships Boosting Prices

Lido has announced strategic partnerships with Mellow Finance and Symbiotic, aiming to enhance the utility and liquidity of staked ETH (stETH) through advanced DeFi vaults. This alliance, forming the Lido Alliance, seeks to provide stETH holders with robust security, increased rewards, and innovative staking opportunities. Lido’s collaboration with Mellow Finance focuses on providing advanced DeFi vaults, enabling stETH holders to restake their tokens, receive Mellow Vault LRTs, and earn additional staking rewards based on their Vault’s Curator Strategy.

Following the announcement, Lido DAO (LDO) saw its price jump by 11.61% to $2.03, while stETH experienced a 4.95% increase to $3,612.47. These partnerships underscore Lido’s mission to enter the Ethereum restaking space, offering a user-friendly and secure experience with comprehensive audits and continuous monitoring.

ONDO Indicates Strong Potential

Ondo (ONDO) has shown strong potential lately, with significant price increases over the past month. According to recent data, ONDO is priced at $0.93 and ranked No. 73 in the crypto ecosystem. The past month has seen a price increase of 11.39%, adding to its current value. 

Crypto experts predict that ONDO will continue its upward trend, with price predictions indicating a potential increase to $1.17 by the end of 2024. The expected growth in ONDO’s value underscores its potential as a profitable investment, making it a candidate for crypto gems for the 2024 race.

BlockDAG’s Eco-conscious Mining: 8800+ Miners Sold

BlockDAG has taken a unique approach to crypto mining, focusing on eco-conscious methods that significantly reduce environmental impact. Unlike traditional mining processes that are resource-intensive, BlockDAG employs more energy-efficient techniques, resulting in quieter and more sustainable operations. This commitment to eco-friendly mining has resonated with the market, leading to over 8800 unit sales of BlockDAG miners.

The X30 miner, a standout in BlockDAG’s lineup, boasts a hash rate of 280 GH/s while consuming only 220 watts of power. This high hashing power per watt efficiency ensures that mining operations are powerful and sustainable. With the ability to mine Bitcoin and Kaspa, the X30 miner offers versatility and high earning potential. On average, an X30 miner can generate 600 BDAG coins daily, making it a lucrative option for new and experienced miners.

Apart from miners, investors have an opportunity to participate in BlockDAG’s presale by purchasing its BDAG coins. These coins can earn returns post-launch as their value increases with each batch surge. BlockDAG’s presale has seen impressive progress, starting at $0.001 in Batch 1 and reaching $0.014 in Batch 19. This rapid increase in value highlights the strong demand and investor confidence in BlockDAG’s future. So far, the presale has garnered $57.4 million from over 12 billion BDAG coins, with an additional $3.6 million from miner sales.

Is It Time to Check out BlockDAG?

BlockDAG’s innovative approach to eco-conscious mining and impressive miner sales underscore its potential as a leading player in the crypto market. The strategic partnerships fueling Lido’s bullish trends in ONDO further highlight the dynamic opportunities within the crypto space. BlockDAG is capturing more attention as the emerging crypto gem for 2024, following a presale that is progressing.

Join BlockDAG!
Presale: https://purchase.blockdag.network
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Trump, the presumed Republican presidential nominee, will headline the conference on July 27, speaking on the main stage in a 30-minute address. Details of what he will discuss have not been disclosed. David Bailey, CEO, BTC Inc., the organizer of the Bitcoin Conference, told Fortune in a statement that Trump will “share his vision for the future of the American Bitcoin industry and its impact on the U.S. economy.”

ANNOUNCING: PRESIDENT DONALD J. TRUMP TO SPEAK AT #BITCOIN2024 pic.twitter.com/F2mwECVMTW

— The Bitcoin Conference (@TheBitcoinConf) July 10, 2024

Other speakers at the conference include conspiracy theorists Russell Brand—who faces nine charges of alleged sexual assault in the U.K.—and Robert F. Kennedy Jr., an independent candidate running for president. Last year’s conference, held in Miami, drew in 30,000 members of the crypto community—the largest number to date.

Despite telling Fox Business in 2021 that Bitcoin “just seems like a scam,” Trump headlining the conference does not come as a surprise. In recent months, Trump has been explicit in his desire to emerge as the “crypto president.” 

In May, his campaign began accepting donations via a host of cryptocurrencies, including memecoin Shiba Inu. “As Biden piles regulations and red tape on all of us, President Trump stands ready to embrace new technologies that will Make America Great Again,” his campaign wrote in its call for crypto dollars.

Then, just weeks later, Bloomberg reported that Trump has turned to Elon Musk for guidance on his crypto policy. Shortly after, he hosted a handful of the publicly traded Bitcoin miners at his Mar-a-Lago estate. Following the visit, Trump wrote in a Truth Social that Bitcoin mining may be “our last line of defense against a CBDC,” referring to a central bank digital currency. He added that all Bitcoin should be “MADE IN THE USA!!!”

On one hand, research suggests that digital assets don’t even rank in the top 10 key issues for voters. So, why has Trump not only changed his tune on crypto, but made it a key priority in his campaign? Well, while crypto may be trumped by issues like the economy, civil rights, and immigration, a Harris Poll survey published in May found that one-fifth of voters in swing states “consider cryptocurrency policies as a topic important enough to sway their support.” In an election that has consistently been neck and neck, a few hundred thousand votes in swing states could make the difference. 

Moreover, Trump knows crypto has money—money the industry is willing to throw at pro-crypto candidates. That’s because, for crypto, a lot hinges on this election, not least because the current Securities and Exchange Commission administration’s remains hostile towards crypto. Under Chairman Gary Gensler, enforcement actions last year rose by 53% compared with the prior year, according to data compiled by the consultancy firm Cornerstone. Last year’s total of 46 actions was nearly double that of 2021, the year Gensler became chair.

As a result, crypto is throwing money at the problem. As of May 31, the political action committee Fairshake raised around $178 million to lobby crypto-friendly candidates. Meanwhile, fellow PAC Stand with Crypto, launched by Coinbase, saw its membership surpass 1 million on June 4, surging immediately after President Joe Biden’s May 31 veto of SAB 121, a measure that would have overturned the SEC’s policy that prevents traditional financial companies from holding on to their customers’ crypto on their behalf. Stand with Crypto has raised around $179 million so far.

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Given the current market conditions where the direction is still uncertain, it gets difficult to identify altcoins with maximum potential. However, despite this, there are several undervalued projects that are being unfairly dragged down by the overall market trends. Analyst Altcoin Buzz gave a list of four coins, worth looking into. Here’s the list:

Coin 1: Akash Network

First on his list is Akash Network, active in both the decentralized computing (DePIN) and artificial intelligence (AI) sectors. These are among the hottest narratives in the current bull run. Akash started as a decentralized computation marketplace, allowing users to rent out their excess GPU capacity at a lower cost compared to major cloud providers.

Moreover, Grayscale has added Akash to its list of high-potential assets for Q3 2024. Despite the overall market downturn, Akash has shown favorable price movements, offering a glimmer of hope amidst the broader market decline.

Coin 2: Morpheus Labs

Next, on his list is Morpheus Labs, which assists Web2 companies in transitioning to Web3 using a low-code platform and AI tools. Morpheus Labs boasts partnerships with major players like Alibaba Cloud, Huawei Cloud, Amazon Web Services, Tencent Cloud, JP Games, Elrond, and Ant Group. Their ecosystem offers Layer Two scalable solutions, sharding for parallel processing, and off-chain computing to reduce on-chain burdens.

Coin 3: Graphlinq

Third on his list is Graphlinq, firmly positioned in the AI sector. Graphlinq offers no-code Web3 automation along with its own chain and token standard. The protocol is multi-chain and facilitates easy deployment and management of dApps. With 170 million GLQ in total value locked (TVL) on its chain, valued at approximately $14 million, Graphlinq is active in the DeFi space and makes an interesting coin.

Coin 4: Clearpool

Last was Clearpool, a player in the real-world assets (RWA) sector. Clearpool operates a decentralized marketplace on Ethereum and Polygon for credit loans. To date, it has facilitated loans totaling $562 million with a TVL of $81 million. The RWA space is projected to grow into a $6 trillion market by 2030, and BlackRock’s entry into this market signals its potential. Despite a price increase over the past year, Clearpool’s market cap still offers growth potential.

Today, Binance, the world’s largest crypto exchange, announced its support for the $RNDR token swap to $RENDER, with a 1:1 conversion ratio.

This development solidifies $RENDER as a true Solana ecosystem coin, potentially setting the stage for significant growth with Solana Breakpoint as a major catalyst.

BREAKING: @binance, the world’s largest crypto exchange supports the $RNDR token swap to $RENDER!

This makes $RENDER a true Solana ecosystem coin!

Solana breakpoint could become a major catalyst for $RENDER!! pic.twitter.com/qFWFPS69Fj

— D0c Crypto (@TheRealD0c) July 10, 2024

This move aligns $RENDER with other leading crypto exchanges, as Binance joins Coinbase and OKX in supporting the token. This widespread exchange support underscores the growing importance of $RENDER in the cryptocurrency market.

BINANCE ANNOUNCES SUPPORT FOR $RNDR $RENDER SWAP!

The top 3 crypto exchanges in the world Binance, Coinbase, OKX now supports $RENDER.. LFG!! pic.twitter.com/0AmyGe3E2T

— MachineAlpha (@Machine4lpha) July 10, 2024

On-chain reports highlight a notable activity involving a prominent whale with a 100% winning rate over the past three months with $PEPE. Two hours ago, this whale deposited 84,465 RNDR tokens into Binance, which were originally acquired in March this year. If sold, this transaction would result in a loss of $448,000.

$RENDER Trader Records 60% Winning Rate On Trades Despite Running Into Occasional Losses

Interestingly, this whale has a history of trading $RNDR in various bands. From February 2024 to the present, they have executed five trades with a winning rate of 60%. However, despite some profitable trades, the cumulative loss stands at $276,000, mainly due to recent losses. Prior to these setbacks, the whale had accumulated total profits of $170,000.

「过去三个月 $PEPE 波段胜率 100% 巨鲸」两小时前将今年三月建仓的 84465 枚 RNDR 充值进了 #Binance，若全部卖出将亏损 44.8 万美金

我发现这位大佬就是喜欢做各种波段啊 —— 从 2024.02 开始到现在一共做了五次 $RNDR 的波段，胜率 60%，累计亏损 27.6… https://t.co/yJq39PrOyO pic.twitter.com/inh0TV464R

— Ai 姨 (@ai_9684xtpa) July 10, 2024

The support from major exchanges like Binance, combined with significant market activities, positions $RENDER for potential growth within the Solana ecosystem. As $RENDER gains more traction and visibility, its role in the DeFi space could expand, offering more opportunities for traders and investors alike.

Overall, the token swap from $RNDR to $RENDER and the support from leading exchanges mark a pivotal moment for $RENDER, enhancing its liquidity and integration within the Solana ecosystem. As the market evolves, $RENDER’s strengthened position could drive further adoption and utilization in the crypto community.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

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Malaysia’s Deputy Minister for Energy Transition, Akmal Nasrullah Mohd Nasir, announced that Malaysia has lost approximately RM3.4 billion ($723 million) to electricity theft from 2018 to 2023, primarily due to cryptocurrency mining,

This theft poses a significant challenge to the country’s energy sector, impacting both the national power operator Tenaga Nasional Berhad (TNB) and individual consumers.

The Malaysian government is actively working to bolster its green and renewable energy capacities. This dual approach aims to promote energy sustainability and mitigate substantial losses attributed to illicit mining activities.

In a local report, Akmal Nasrullah emphasized that while cryptocurrency mining itself is legal, the unauthorized use of electricity to power these operations is illegal. Malaysian energy authorities have implemented various measures to monitor high energy consumption and have conducted numerous crackdowns since 2019, resulting in several arrests.

Kerajaan heboh nak laksanakan agenda peralihan tenaga sebab nak tambah sumber tenaga yang baru.

Tapi dalam masa yang sama kecurian elektrik sampai ratusan juta, ada tahun mencecah berbilion ringgit setahun berlaku di negara kita.

Ironi sungguh. pic.twitter.com/ZkWz7eIWrn

— Akmal Nasir (@akmalnasir) July 10, 2024

Recently, during an event in Balakong, Akmal Nasrullah highlighted the government’s vigorous efforts against such illegal practices. Energy companies have conducted 865 raids to investigate electricity theft cases, seizing over 2,000 items, including Bitcoin mining machines and unauthorized electrical equipment valued at around RM2.2 million ($467,000). These items were disposed of in accordance with strict legal and environmental protocols.

In a related development, Malaysia’s Inland Revenue Board (IRB), alongside police and cybersecurity experts, launched ‘Ops Token‘ to target cryptocurrency traders evading taxes. This operation led to raids on ten locations in the Klang Valley region, recovering substantial amounts of unreported profits.

Also read: Bybit Moves Staff from China to Malaysia and Dubai

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The crypto prices today have carried an uncertain momentum, piquing significant investor attention. Bitcoin (BTC) reverted its recent gains to rest at the $57K mark, while Ethereum (ETH) and Solana (SOL) dipped into the red zone, battling volatility. However, XRP traded in the green zone today, followed by Stack (STX) and Lido DAO (LDO), surfacing as the day’s top gainers.

Besides, the global crypto market cap witnessed a 0.56% decline to reach $2.12 trillion today. Moreover, the total crypto market volume from yesterday saw a slight 1.49% decrease to $63.61 billion.

Here’s a quick overview of some of the top cryptocurrencies and their price movements today, July 11.

Top Crypto Prices Today

Bitcoin Price

BTC price experienced a 1.17% fall over the past day to reach $57,461. Its 24-hour bottoms and highs were recorded as $57,093.71 and $59,359.43, underscoring a highly volatile movement.

Despite the U.S. spot Bitcoin ETFs recording continued inflows, BTC’s tumbled movement has ignited investor concerns. Data by Soso Value shows that the U.S. spot Bitcoin ETFs saw $147.37 million in inflows as of July 10, contrasting with the token’s current price trajectory.

Also, the flagship crypto’s market dominance saw a 0.28% decrease to 53.47% today.

Ethereum Price

Meanwhile, although ETH managed to hold firm above $3K, the token’s price saw a 0.25% dip at press time to $3,078.63. Ethereum’s 24-hour lows and highs were $3,055.95 and $3,148.41, respectively.

A recent report by CoinGape Media spotlighted that the token faces significant resistance at the $3.2K level, although a bullish catalyst in the pipeline might reduce the pressure faced by Ethereum at this resistance.

Solana Price

Whereas, the crypto SOL witnessed a 1.50% decline to trade at $140.52 today. Solana’s 24-hour slumps and peaks were recorded as $139.47 and $145.85, respectively.

It’s worth mentioning that despite the lack of a futures market, VanEck’s Head of Digital Assets Research has maintained a strong stance on the imminent launch of a SOL ETF.

XRP Price

On the other hand, the Ripple Labs-backed crypto jumped 0.58% today to trade at $0.4409. XRP’s 24-hour lows and highs were recorded as $0.4317 and $0.4429, respectively.

DOGE & SHIB Prices

Dogecoin (DOGE) price dipped 1.11% to $0.1075 today, whereas Shiba Inu (SHIB) price slipped 1.65% to $0.00001635.

Intriguingly, the meme coins that defied the broader market trend to experience gains today were BabyDoge Coin, Mog Coin (MOG), and Book of Meme (BOME).

Top Crypto Gainers Today

Stacks (STX) price rallied 13.38% to $1.57.
Lido DAO (LDO) price surged 6% to $1.64.
zkSync (ZK) price soared 5.59% to $0.1608
Ondo (ONDO) price saw a 5.25% upswing to $0.9895.

Also Read: Institutional FOMO On Spot Bitcoin ETF As German Govt Continues BTC Sell-off

Top Crypto Losers Today

Notcoin (NOT) price plunged 7.18% to $0.01559.
Flare (FLR) price saw a pullback of 5.31% to $0.01855.
Celestia (TIA) price followed, slipping 5.08% to $6.91.
Ethereum Name Service (ENS) tumbled 5% to $25.90.

However, hourly time frame charts illustrate that BTC and ETH gained 0.46% and 0.39%, respectively. Simultaneously, the altcoin sector followed the upward movement during the same time frame, sparking discussions.

Also Read: Terra Classic Staking Nears ATH As Dev Reveals Update, LUNC OI Jumps 20%

The share of cryptocurrency startups launching in Africa and Asia increased to their highest levels ever in the first half of 2024, snatching share from the United States and Canada amid recent regulatory uncertainty. 

According to a July 10 X article by blockchain startup accelerator and founder community Alliance, Europe overtook the US and Canada as the leading place for new cryptocurrency startups in H1, making up a 31.4% share, while Asia came third place with a 26.8% share.

Alliance DAO’s Qiao Wang and “Chloexyg” believe the trend could be due to regulatory uncertainties in the US and digital asset applications seeing more adoption in emerging markets.

Africa also saw its share rise to 5.2% — slightly below Latin America — while Oceania, comprising mostly Australia and New Zealand, saw only 1.8% of the total crypto startups in the first half of the year. 

Alliance said it compiled the data through the 3,000 annual applications it receives for its startup accelerator program.

“Because of the sheer sample size and the fact that we are relatively agnostic to these factors, we are able to derive unique insights into where the industry is heading.”

The same regulatory uncertainties cited by Alliance forced self-custody service providers Phoenix Wallet and Wasabi Wallet to recently exit the US market, while several other firms have expanded elsewhere too.

Many have blamed the US Securities and Exchange Commission’s regulation-by-enforcement approach.

Meanwhile, the number of startup founders coming from big tech firms has fallen more than 15 percentage points since 2021, Alliance’s data shows.

Related: Binance, Coinbase and Gemini staff are among the least happy, data suggests

There’s also been a similar fall in the number of founders that come from a top 100-ranked university.

About 39% of startups were launched by a solo founder, while 51% of startups comprised teams between 2-5 members.

Magazine: Meet the hackers who can help get your crypto life savings back

The cryptocurrency market remains calm, with many waiting for the next big bull run. Altcoins, in particular, are still trading at lower levels, poised for a possible explosion. Amid this anticipation, excitement brews as analysts spotlight five specific altcoins with the potential for up to 55 times profit. In this article, the discussion will delve into these promising coins and their growth prospects.

CYBRO Presale Exceeds $1 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity

CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $1 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.

Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.025 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. In another exciting update, CYBRO has introduced a referral program that runs until July 15. It offers 12% commissions from direct referees’ token purchases, 3% from second-level referees, and 2% from third-level referees. Rewards are distributed weekly in USDT, and referees receive double CYBRO Points on their first deposit using the referral code.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.

With only 21% of the total tokens available for this presale and approximately 25 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.

Join CYBRO and aim for future returns up to 1200%

Sei (SEI) Bullish Momentum and Growth Potential Despite Recent Decline

Sei (SEI) suggests that bulls still hold some strength, despite the recent dip. Trading between $0.22 and $0.32, SEI could soon challenge the resistance at $0.39. Its RSI at just over 64 hints at healthy buying interest. If SEI breaks past $0.39, it has the potential to reach $0.50, marking an impressive near term gain of about 56%. Long-term trends also look promising, as breaking past $0.50 could even set higher targets on the horizon. Despite a challenging past month, SEI might be poised for a bullish recovery.

Blast (BLAST) Eyeing Big Gains Amid Market Recovery

Blast (BLAST) has recently shown strong price movement, bouncing between $3.01 and $4.71. Despite some market dips, the bull run seems intact with a 14.71% gain in the past week and a phenomenal 527.31% increase over the past month and six months. Currently, bulls are showing strength with BLAST staying above key support at $2.02. If momentum continues, we could see a rise to the nearest resistance of $5.42, which represents about a 15% increase from its upper range. Further growth might drive the price towards the next resistance level at $7.12, marking potential gains of around 50%. With bullish indicators like an RSI of 74.81 and a high stochastic value, BLAST seems poised for further upside.

Worldcoin (WLD) Shows Potential Amid Bearish Trends

Worldcoin (WLD) is navigating through a turbulent phase but shows signs of potential growth. Currently trading between $1.57 and $2.37, it’s clear bears have the upper hand. However, its movement around the $1.92 Simple Moving Average indicates possible stability. If bulls rally, breaking the resistance at $2.87 could see prices climb toward $3.67, representing a significant gain. Despite a month-long drop of nearly 55%, historical patterns from 2021 hint at a potential resurgence. Keep an eye on its RSI of 54.12 and Stochastic at 76.42. A push above the recent range could mark the start of a bullish momentum.

Bullish Signals for LayerZero (ZRO), Despite Recent Crypto Market Dumps

LayerZero (ZRO) is showing strong bullish momentum despite recent market downturns. The coin’s price is currently moving between $3.00 and $4.71. Recent gains of nearly 15% in the last week and over 339% in the past month suggest significant upward potential. With an RSI of 75.18 and a strong MACD level, the bulls seem to be in control. If ZRO breaks through the $5.42 resistance, we could see it rocket up to $7.13, representing a potential gain of roughly 50%. The strong buying signals indicate that LayerZero could lead the next altcoin season.

Conclusion

SEI, BLAST, WLD, and ZRO appear strong but may offer less potential in the short-term. For maximizing earnings in 2024’s bull run, CYBRO, a sophisticated DeFi platform, stands out. Leveraging AI for yield aggregation on the Blast blockchain, it delivers lucrative staking rewards, exclusive airdrops, and cashback on purchases. CYBRO ensures a smooth user experience with easy deposits and withdrawals. Its commitment to transparency, compliance, and quality attracts significant interest from major crypto influencers and whales.

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Learn about cryptocurrency tax calculators in 2024. Calculate your crypto tax liabilities with ease using CoinTracker, CoinLedger, TokenTax, ZenLedger, and more.

In most countries, including the U.S., U.K., Canada, Australia, and India, tax authorities require you to pay taxes on cryptocurrency transactions. When it’s time to file your taxes, you need to record the details of each crypto transaction. 

However, unlike traditional stock brokers, top crypto exchanges might not provide tax documents summarizing your yearly transactions. Therefore, it’s up to you to figure out your earnings and how they impact your taxes based on your country’s crypto tax rate.

While you can file by hand, this can be cumbersome if you have many transactions. That’s where a crypto tax calculator can help. This software calculates your crypto profits, losses, income, and tax liabilities based on your investing activity and data, retrieving information from your exchanges, wallets, and other crypto platforms.

Whether you’re a seasoned trader or a casual investor, a reliable cryptocurrency tax calculator is essential to ensure compliance and ease the burden of tax filing. Here’s a detailed guide on some of the best crypto tax calculators to consider in 2024.

CoinLedger

CoinLedger is a go-to tool for automating your cryptocurrency and non-fungible token (NFT) tax reporting. According to the platform, since its launch, more than 500,000 crypto investors have used it for tax calculations.

You can calculate crypto taxes using CoinLedger in three simple steps:

1. Import your crypto transactions from your wallets and exchanges.

2. Preview your report.

3. Generate your tax report.

The platform directly integrates with other popular crypto tax tools, making it easy to import all your historical transactions, whether you’re trading, earning interest, or buying NFTs.

It also allows you to download your completed tax forms to file yourself, send them to your accountant, or import them into your preferred tax filing software.

Key features:

• Unlimited transactions: Import all your crypto transaction history for free.
• Wide integration: Directly integrates with TurboTax, TaxAct, and other crypto tax platforms.
• NFT and decentralized finance support: Handles transactions involving NFTs, decentralized finance (defi), and margin trading.
• Recalculate reports: Regenerate tax reports as many times as needed for free.

Pricing:

• Free: $0 for unlimited transactions
• Hobbyist: $49 for up to 100 transactions
• Investor: $99 for up to 1,000 transactions
• Pro: $199 for up to 3,000 transactions

Pros:

• Free plan with unlimited transactions
• Affordable paid plans
• Easy integration with other tax software
• Rerun and recalculate reports at no extra cost

Cons:

• Full tax report download requires a paid plan
• No mobile app is available

CoinTracker

CoinTracker, which, per its official website, is used by over 2 million people, supports more than 500 crypto wallets and exchanges, over 10,000 cryptocurrencies, and more than 20,000 defi smart contracts. 

The crypto tax calculator automatically syncs all your crypto activity across exchanges, wallets, defi platforms, and NFTs.

When it comes to security, CoinTracker provides read-only access to your data, end-to-end encryption, and token-based two-factor authentication. It is also SOC 1 and SOC 2 compliant.

It also comes as a mobile app with features that allow you to easily view your investment performance and filter your transaction history from anywhere. 

CoinTracker also offers full support in the U.S., India, and the U.K., with partial backing available in other countries.

Key features:

• Comprehensive support: Syncs crypto activity across exchanges, wallets, defi, and NFTs.
• Security: Read-only data access, end-to-end encryption, and token-based 2FA.
• Mobile app: Monitor investment performance and transaction history anywhere.

Pricing:

• Free: $0 for 25 transactions
• Base: $59 for 100 transactions
• Prime: $199 for 1,000 transactions
• Ultra: $599 for up to 10,000 transactions

Pros:

• Offers a free plan
• Supports over 500 exchanges and wallets
• Robust security features
• Convenient mobile app

Cons:

• Limited support for futures, swaps, and derivatives
• Supports a limited number of tax jurisdictions

TokenTax

TokenTax is crypto tax software developed by crypto tax experts. It offers both tax calculations and full accounting services for investors globally. 

It features fast, universal data import, instant access to tax forms, real-time tax estimate previews, and is available to taxpayers worldwide.

Using TokenTax is straightforward:

1. Import and review data: The software syncs with your wallets and accounts, eliminating manual data entry and ensuring accuracy.

2. Preview your estimated tax liability: Review your crypto transactions and tax data in one place, with real-time previews of your estimated tax liability.

3. Export completed forms: Access all the forms you need to complete your taxes, whether you file with TokenTax or another provider like TurboTax.

The crypto tax calculator allows you to import data from nearly every crypto exchange, blockchain, protocol, and wallet. However, if it doesn’t have automation for a particular platform, you can use its manual CSV template to import data.

Key features:

• Data import: Syncs with all wallets and accounts, with manual CSV templates for unsupported platforms.
• Real-time estimates: Preview tax liabilities in real-time.
• Comprehensive forms: Exports all necessary forms for filing taxes.

Pricing:

• Basic: $65 for up to 100 transactions
• Premium: $199 for up to 5,000 transactions
• Pro: $1,599 for up to 20,000 transactions
• VIP: $2,999 for up to 30,000 transactions

Pros:

• Full-service tax filing
• Customizable reports for various countries
• Human customer support
• Supports almost all wallets and exchanges

Cons:

• No free plan
• High cost for some plans

ZenLedger

ZenLedger is renowned for its crypto tax software tailored to defi portfolios. It has reportedly managed over 10 billion transactions for more than 100,000 customers.

The crypto tax tool integrates with over 100 decentralized platforms, such as 1Inch, Aave, Uniswap, and PancakeSwap. 

It also supports more than 400 cryptocurrency exchanges and over 10 NFT platforms, allowing you to import your trading history, calculate your taxes instantly, and generate an IRS Schedule D.

Using your cryptocurrency transaction history, ZenLedger can also easily generate IRS Form 8949 to report your crypto gains and losses.

Another standout feature of the crypto tax calculating platform is its seamless integration with other popular online tax tools like TurboTax and TaxAct. This lets you file your taxes for your entire portfolio, including crypto holdings, all in one place.

ZenLedger can also help you determine the total value of any profit from airdrops, staking, mining, and other sources as they grow and accumulate in real time.

Key features:

• Defi and NFT support: Integrates with major defi platforms and NFT exchanges.
• IRS compliance: Generates IRS Schedule D and Form 8949 for accurate crypto tax reporting.
• TurboTax integration: Seamlessly integrates with popular crypto tax tools.

Pricing:

• Silver: $49 for up to 100 transactions
• Gold: $199 for up to 5,000 transactions
• Platinum: $399 for up to 15,000 transactions
• Professional: From $275 for a consultation to $6,500 for multi-year plans

Pros:

• Excellent customer support
• Quick crypto tax report generation
• Leading software for defi earnings
• Extensive exchange and platform integration

Cons:

• No free plan
• Defi and NFTs are only supported in professional plans

If you’re searching for a free crypto tax calculator, Crypto.com Tax is an excellent choice. Whether you’re new to the process or experienced, navigating Crypto.com Tax and generating your tax report is straightforward. 

It is fully integrated with four wallets and 25 exchanges and supports over 10,000 cryptocurrencies. The free crypto tax software is currently accessible in 11 countries, including Australia, Canada, New Zealand, the U.K., and the U.S.

However, as of June 25, Crypto.com Tax will no longer be operational but will instead offer its free crypto tax services through partnerships with Koinly and TokenTax.

Key features:

• API and CSV support for easy data import.
• Calculates capital gains and losses.
• Allows for the generation of multiple tax reports.
• Completely free for unlimited transactions.

Pricing:

• Free: $0 for unlimited transactions

Pros:

• Currently absolutely free
• Easy-to-use interface
• Supports thousands of cryptocurrencies

Cons:

• Limited mobile functionality
• Smaller number of supported exchanges and wallets

Final thoughts

By choosing the right crypto tax calculator for your needs, you can ensure a smoother tax filing process and stay compliant with tax regulations. 

Although not an exhaustive list, each of the options in our guide offers unique features tailored to different types of crypto investors, so select the one that best fits your trading activities and reporting requirements.

For instance, CoinTracker and CoinLedger offer robust features and extensive integration options, making them ideal for most users. ZenLedger, on the other hand, excels in managing defi portfolios, while TokenTax provides comprehensive services for those needing more personalized support. 

For a completely free solution, Crypto.com Tax is a great option, especially for beginners. Evaluate your needs and choose the tool that best suits your crypto trading activity and tax filing requirements.

FAQ

Litecoin’s active addresses have doubled, signaling robust network engagement. Meanwhile, the PEPE price changes also reflect notable market activity. Amid these shifts, BlockDAG revolutionizes mining with its X1 mining app, now launched on the App Store, accelerating its timeline by two months. This strategic advancement boosts BlockDAG’s presale figures to $57.1 million and mining sales to $3.6 million, underscoring BlockDAG as the best crypto to mine. With immediate mining available on Devnet, the platform offers unprecedented opportunities for early participants to capitalize on potential gains.

Litecoin’s Network Activity Surges 

This month has seen a significant uptick in the Litecoin blockchain’s activity. Data from blockchain analytics firm Santiment reveals that the number of Litecoin active addresses has more than doubled recently, escalating from 345,000 in May to over 700,000 currently. This surge in Litecoin active addresses indicates a heightened level of transactions and interactions within the network.

The increase in Litecoin active addresses is not just a numeric rise but a broader engagement across the network. Interestingly, Litecoin’s active addresses now surpass those of heavyweight cryptocurrencies Bitcoin and Ethereum. This growth in Litecoin’s active addresses showcases its enduring relevance and innovation within the cryptocurrency landscape.

PEPE Price Trends: A Snapshot of Market Dynamics

The PEPE price has recently captured the attention of the cryptocurrency market with a notable rise of 11.60% in just under 72 hours, showcasing a robust bullish momentum amidst a mix of market signals. Current insights reveal that the PEPE price has nudged up by 2.56% in the last 24 hours, reaching $0.0000116, according to CoinMarketCap. 

Market analysis highlights that the recent PEPE price increase is closely tied to significant liquidation activities. Historical trends indicate that when these elements align, the PEPE price often experiences a surge, presenting a cautiously optimistic outlook for its near future.

Transforming Crypto Mining: BlockDAG’s X1 Miner App Goes Live

BlockDAG has revolutionized crypto mining, releasing its X1 mobile mining app on the Apple App Store. This release has spiked miner sales to $3.6 million and accelerated the presale to a staggering $57.1 million. The X1 is one of the best crypto mining apps, offering an intuitive interface and advanced security features directly from a user’s smartphone.

The X1 app allows miners to operate from any location anytime, eliminating the need for bulky, energy-consuming home rigs. Registration is straightforward, enabling users to start mining up to 20 BDAG coins daily. This easy access to mining introduces a greener, more user-friendly approach to cryptocurrency mining.

Additionally, the app’s referral program offers the potential to significantly boost mining rates by inviting new users to the platform. This increases the individual’s earnings and expands the mining community, enhancing the network’s overall strength and efficiency.

BlockDAG’s innovative strategy doesn’t just stop at mobile access; it ensures that all mining activities begin on the Devnet, with future transitions planned to the testnet and, ultimately, the Mainnet. This allows miners to follow their progress and see their holdings increase in real-time. Given these exciting developments, starting with the X1 app could be a wise move for those looking to capitalize on early mining benefits and watch their assets grow as BlockDAG continues to lead in the crypto-mining sector.

Seize the Future of Mining with BlockDAG

While Litecoin’s active addresses and PEPE’s price fluctuations highlight the volatile nature of the crypto market, BlockDAG presents a more promising opportunity. By launching the X1 app and enabling mining two months ahead of the initial schedule, BlockDAG has accelerated its roadmap and solidified its status as the best crypto to mine. With the presale already reaching $57.1 million and mining sales surging to $3.6 million, now is an ideal time for forward-thinking users to consider BlockDAG’s potential for substantial returns.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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_{Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.}

Bitcoin is at a “pivotal point” as several onchain metrics signal further downside, while whales experience the fastest Bitcoin accumulation rate in more than a year, according to a new CryptoQuant report.

Bitcoin (BTC) has been in a downtrend since turning away from its new all-time high in March. Over the last month, Bitcoin’s price action has been characterized by a series of lower highs and lower lows, reaching a two-month low at $53,500 on July 5.

Despite rebounding back above $57,000, continued Bitcoin selling by the German government and Mt. Gox repayments threaten further losses for BTC.

The CryptoQuant report reveals that the profit and loss (P&L) index is hovering around its 365-day moving average (MA). The onchain data provider explains that if this index drops below its 365-day, Bitcoin could embark on a major correction as those seen in previous drawdowns.

“A crossover to the downside has been associated with major corrections (May-July 2021) or the start of a bear market (November-December 2021). See red circles.”

CryptoQuant’s Bitcoin bull-bear market cycle indicator is also approaching a critical level and could “switch to bear market if prices decline further.”

The chart below shows that the indicator is currently playing out in a similar way it did in March 2020, May 2021 and November 2021. A drop below the neutral line will mean that the market has switched to a bear phase, pointing to further declines.

According to CryptoQuant, these two metrics show that Bitcoin is at “a level where a local bottom can form or a major ‘summer-of-2021’ style correction can occur.”

In addition, Tether’s (USDT) market cap growth has stalled, suggesting that a rally might be hard to come by as historical recoveries can be attributed to a rise in stablecoin liquidity, CryptoQuant added. Growth in the market of USDT is often considered a key driver of bull markets.

“USDT market capitalization is still slowing down. Bitcoin price typically rallies as more liquidity enters the crypto market via USDT minting, a condition that has still not been met.”

Related: Price analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Meanwhile, Bitcoin whales have been aggressively accumulating as the recent downswing gave large holders an opportunity to buy more on the dip, boosting their stack by 6.3% over the past month, the fastest pace since April 2023.

CryptoQuant said that this indicates “rising demand for Bitcoin” at lower levels. This is corroborated by increased inflows into US-based spot Bitcoin exchange-traded funds (ETFs).

Data from SoSo Value shows that despite BTC’s price drop to four-month lows on July 5, institutional investors poured $143.1 million into spot Bitcoin ETFs that day. This was followed by $294.9 million and $216.4 million net inflows on July 8 and July 9, respectively.

This institutional support has counterbalanced the selling pressure while simultaneously demonstrating BTC’s acceptance within the financial mainstream.

From a technical perspective, Bitcoin’s short-term resistance rests at $59,000, embraced by the 200-day simple moving average, as observed by Benjamin Cowen, founder of the “Into The Cryptoverse” newsletter.

Note that the price has been sealed below this level since breaching it on July 4, and bulls were required to flip it back into support to avoid further losses.

“This is the 200D SMA and would also correspond to a backtest of the trend line that BTC broke down from.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

In a long-awaited move, Mt. Gox, the infamous Bitcoin exchange that collapsed in 2014, has finally started repaying its creditors. 

This resolution to one of crypto’s most notorious scandals is not just closing a chapter to one of Bitcoin’s darkest hours but is also actively shaping the asset’s market dynamics in real time.

On July 5, Nobuaki Kobayashi — the rehabilitation trustee for Mt. Gox — announced the commencement of debt repayments to creditors in Bitcoin (BTC) and Bitcoin Cash (BCH). The repayments are facilitated through a complex network of exchanges, with each entity playing a crucial role in distributing the funds.

The scale of the repayments is staggering. According to available data, approximately 47,288 BTC, valued at roughly $2.7 billion, has already been moved from Mt. Gox-associated wallets to new addresses.

This is just the beginning, with a total of around 140,000 BTC — worth a whopping $9 billion at current prices — set to be returned to the victims in the coming weeks. The sheer magnitude of the transfers has put the entire crypto market on edge, with traders and investors closely monitoring every movement.

Moreover, on paper, the repayment process seems to be quite a logistical feat, with five exchanges, namely Bitbank, SBI VC Trade, Bitstamp, Kraken and BitGo, tasked with distributing the funds. Each exchange has its own timeline for processing the payouts, ranging from immediate distribution to a 90-day window.

Both Japanese exchanges — Bitbank and SBI VC Trade — have already completed their distributions, processing the payments within hours of receiving the funds. This swift action relieved creditors but also contributed to the ongoing market volatility as some recipients quickly sold their newly acquired Bitcoin.

Bitstamp also pledged to expedite its distributions, with exchange officials stating that it is committed to compensating investors earlier than its given 60-day window.

A ripple effect in motion

The immediate impact on Bitcoin’s price was swift. As news of the repayments spread, Bitcoin plummeted from approximately $62,000 to as low as $53,600 on July 4 — a 10% drop in a matter of hours.

This sharp decline triggered a wave of liquidations across the crypto market, with over $425 million in leveraged positions being wiped out. The volatility wasn’t limited to Bitcoin; the entire cryptocurrency market felt the tremors, with many altcoins experiencing double-digit percentage drops.

However, the market’s reaction wasn’t solely due to Mt. Gox. Coinciding with these repayments was news of the German government offloading hundreds of millions of dollars worth of Bitcoin seized from criminal activities.

On July 8, a German government-labeled crypto wallet sold around $900 million worth of Bitcoin, transferring roughly 16,309 BTC in multiple transactions to various external addresses, marking its largest single-day Bitcoin liquidation.

Recent: Labour victory in UK elections renews crypto industry optimism

Some of the transfers were directed to crypto exchanges such as Bitstamp, Coinbase and Kraken, as well as market makers such as Flow Traders and Cumberland DRW.

With the German government now around halfway through its selling spree, reducing its holdings to 23,788 BTC from 50,000 BTC, traders expect Bitcoin prices to stabilize and potentially climb again once the immediate selling pressure eases.

The fall of Mt. Gox

A visit to the history books is important to understand the magnitude of the current repayment scheme.

Founded in 2010 by Jed McCaleb and later sold to Mark Karpelès in 2011, Mt. Gox quickly became the world’s largest Bitcoin exchange, handling a staggering 70% of all global BTC transactions at its peak.

This dominance made it the go-to platform for early Bitcoin adopters and played a crucial role in establishing Bitcoin’s legitimacy in its formative years. However, in February 2014, Mt. Gox suspended all Bitcoin withdrawals, citing technical issues. The truth soon emerged that the exchange had lost approximately 850,000 BTC in a long-standing security breach.

This loss, valued at roughly $450 million at the time, would be worth over $48 billion at today’s prices. The event sent shockwaves through the crypto community and severely damaged Bitcoin’s reputation, setting back mainstream adoption efforts by years.

The fallout was immediate and severe. Mt. Gox filed for bankruptcy, leaving thousands of customers in limbo. In 2018, the case shifted to civil rehabilitation, offering a glimmer of hope to creditors. In 2019, Karpeles was convicted of falsifying financial records, adding yet another layer to the complex legal saga.

However, a legitimate plan of action emerged in 2020 when Kobayashi announced a draft rehabilitation scheme. The plan faced numerous delays and revisions over the next couple of years, mainly due to various legal and logistical challenges. In 2023, the repayment deadline was extended once again to sometime in the third or fourth quarters of 2024.

Throughout this period, the crypto landscape continued to evolve, with new exchanges rising to prominence and regulatory frameworks beginning to take shape.

Bitcoin’s rocky road ahead

The commencement of Mt. Gox repayments has injected a new level of volatility into an already dynamic crypto market. However, as the dust settles, a more nuanced picture seems to be emerging. For instance, Bitcoin has shown immense resilience since July 5, rebounding to around $59,000 after its initial plunge to $53,600.

The market’s ability to absorb such a large influx of supply speaks to the increased liquidity and maturity of the cryptocurrency ecosystem compared to its state during Mt. Gox’s collapse. In fact, some analysts even believe that much of this selling pressure was already “priced in” before the event itself, thus explaining the relatively quick price recovery.

Recent: Memecoins and AI are pushing Gamefi out of the spotlight

Furthermore, some large investors viewed the price dip as a buying opportunity, as evidenced by increased inflows into US-based spot Bitcoin exchange-traded funds (ETFs). This institutional support has counterbalanced the selling pressure while simultaneously demonstrating BTC’s acceptance within the financial mainstream.

Shifting back to the broader macroeconomic landscape, the upcoming US Consumer Price Index (CPI) report and Federal Reserve Chair Jerome Powell’s testimony before the US Congress are also being closely watched since they could significantly influence Bitcoin’s price trajectory in the coming months.

Also, the US presidential election on Nov. 5 could very well be another wild card, with some speculating about a possible “Trump Trade” rally if the former president wins, given his recent overtures to the crypto community.

The broader crypto market also shows signs of decoupling from Bitcoin’s movements. Ether (ETH), for instance, has stayed above the $3,000 mark despite BTC market volatility.