Microstrategy, the software giant is set to release its balance sheet report soon. Meanwhile, investors are wondering if Bitcoin (BTC) still leads their holdings given Bitcoin’s recent price drop. Two other tokens that have gained attention in the crypto space are Ripple (XRP) and Pomerdoge (POMD). While Ripple’s SEC case has taken a new turn, Pomerdoge is conquering the blockchain gaming space with its token presale. Click Here To Find Out More About The Pomerdoge (POMD) Presale MicroStrategy Reveals Balance Sheet, Where Is Bitcoin (BTC)? MicroStrategy, a public firm known for its high Bitcoin purchase is set to announce its Q2 2023 earnings report today. Despite criticism, the company remains committed to using Bitcoin as a hedge against inflation. Many were not expecting that MicroStrategy would have sold some of its Bitcoin holdings. Moreover, the company’s former CEO has reiterated that MicroStrategy will not sell its Bitcoin. Interestingly, the firm has over 152,333 BTC worth about $4.5 billion at an average price of $29,668. Meanwhile, Bitcoin has dropped below the crucial $29,000 price point. According to CoinMarketCap, it is trading at $28,853.77 after falling 1.85% in the last 24 hours. This drop comes after the US SEC filed a lawsuit against Richard Heart and his crypto ventures, PulseX, PulseChain, and Hex. Ripple (XRP) Remains Bullish Despite Breaching Critical Support According to recent developments, the proceedings of the SEC vs. Terraform Labs case have cast doubt on Ripple’s victory. The Judge presiding over the Terraform Labs case had dismissed Ripple’s victory. Consequently, due to these developments, XRP has fallen below the $0.7 area. Besides, the token has been fluctuating between the $0.965 and $0.666 levels in the past month. Nevertheless, if the ruling in the SEC vs. Ripple lawsuit is officially questioned, the XRP price could plummet by 25%. Such a move would bring XRP down to the $0.520 support level of $0.520. In a worst-case scenario, the altcoin might even drop as low as $0.392. Currently, XRP is trading at $0.687532, a 2.35% price decline in the last 24 hours. Pomerdoge (POMD) Outperforms the Crypto Market Pomerdoge (POMD) is building a play-to-earn game that will transform the crypto and blockchain gaming space. Interestingly, the platform has attracted investors from across the crypto ecosystem with its token presale. The upcoming blockchain-based game, “Pomergame” adds to the anticipation, promising unprecedented thrills and rewards for players. Pomergame functions as the central hub for enjoyment and rewards, providing players with the opportunity to connect, compete, and earn. Gamers can enhance their characters or avatars to elite levels and create customized digital items for their virtual personas. Furthermore, players have the opportunity to engage in exciting battles, fighting their Pomerdoge against other members. Another feature of the ecosystem is Pomerplace, an upcoming marketplace. Players will be able to buy, sell, and trade valuable in-game items on the marketplace. The ecosystem takes pride in its NFT collection, featuring 7,777 digital collectibles. This will be accessible to only Pomerdoge holders. Currently in its first stage, the presale offers POMD tokens at just $0.007. Market experts have forecasted a 17x price surge soon and 5,000% gains by the end of 2023. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

MicroStrategy co-founder and former CEO Michael Saylor has stated that potential Spot Bitcoin ETF approvals will not influence the company’s “Bitcoin Strategy.” MicroStrategy Has A Unique Bitcoin Offering During a discussion with Bloomberg on August 2, Saylor stated that even if the SEC approves the spot Bitcoin ETF applications, it would not affect his company’s offerings. According to him, MicroStrategy’s Bitcoin offering offers a unique proposition that the spot Bitcoin ETFs cannot emulate. Saylor echoed similar sentiments during the earnings call on August 1 when he stated that MicroStrategy’s unique “Bitcoin operating strategy” will make it stand out even when spot Bitcoin ETFs arrive. The ex-CEO explained that, “We can tap into leverage because we’re an operating company, which an ETF couldn’t do so we view it as being beneficial to the entire ecosystem.” However, he believes these spot ETFs are good for the crypto industry as they will welcome institutional investors who boast more than enough liquidity into the space. Differentiating his company’s offering from spot ETFs, he stated: MicroStrategy had filed an application to the SEC to sell up to $750 million in Class A common stock. Saylor also confirmed that his company would use the potential proceeds of this stock sale to “acquire Bitcoin.” MicroStrategy’s Chief Financial Officer, Andrew Kang, had also confirmed that the proceeds from the proposed sale will be used for “the purchase of Bitcoin as well as the repurchase or repayment of outstanding debt.” Saylor’s Faith In Bitcoin Paying Off Saylor’s MicroStrategy, which happens to be one of the largest holders of Bitcoin, started buying the cryptocurrency in 2020 as a hedge against inflation. The company’s purchases largely resulted from Saylor’s faith in the token as he continued to advocate for it despite the recent market conditions in the crypto market. Saylor stepped down as the CEO a year ago just to focus on the company’s Bitcoin purchasing strategy. This strategy seems to be paying off as it provides an edge for the company over its competitors, with the MSTR stocks rising tremendously since MicroStrategy’s adoption of Bitcoin. As revealed by Saylor in a tweet, MicroStrategy’s stocks have risen by 254% since 2020 when it started buying Bitcoin, with this performance putting the company above some key assets and big tech stocks in terms of performance. Saylor is not relenting as he confirmed that the goal is to “accumulate as much Bitcoin as we can” when quizzed about how much more Bitcoin the company intends to add to their existing holdings of 152,800 BTC.

The SFC of Hong Kong has upgraded two key licenses. The company is excited to expand its customer base to the retail sector. HashKey Exchange is the first cryptocurrency exchange in Hong Kong to get a license to operate for retail clients under the region’s new crypto guidelines, which are designed to turn Hong Kong into a global cryptocurrency center. HashKey Group, which includes virtual asset exchange HashKey Exchange in Hong Kong, made the announcement. The company is excited to expand its customer base beyond institutional investors and into the retail sector. The SFC of Hong Kong has upgraded two key licenses,. Thus, making it possible for HashKey to reach a new regulatory threshold. Pushing Crypto Adoption HashKey has obtained a Type 1 license, which enables the company to run a virtual asset trading platform in accordance with Hong Kong’s securities legislation. Type 7, the second, allows the company to provide automated trading services to both institutional and retail clients, as noted in the statement. Moreover, HashKey Brokerage, HashKey’s crypto over-the-counter (OTC) trading business, has also been officially launched. Following the SFC’s acceptance of a new crypto regulatory framework. The OTC platform is stated to be in accordance with local securities regulations. Moreover, HashKey’s fiat money deposit and withdrawal services are provided by Standard Chartered Bank. Venture capital, asset management, and trading are just a few of HashKey Group’s many areas of expertise. In light of Hong Kong’s efforts to become a worldwide crypto center. The group has revealed ambitions to raise $100 million to $200 million at a valuation of more than $1 billion. Hong Kong has emerged as a haven for crypto-related businesses as a result of increased regulatory scrutiny and crackdowns in various nations.

LUNC’s community has worked continually towards reviving the ecosystem’s native LUNC token. However, recent data from this artificial intelligence (AI) algorithm suggests these efforts might not be enough. LUNC’s Price Prediction PricePredictions, a state-of-the-art crypto analysis and forecasting platform, has projected Terra Classic (LUNC) to trade at around $0.000076 by the end of this month. PricePredictions combines indicators like average true range (ATR), relative strength index (RSI), and moving average convergence divergence (MACD) to make such forecasts. Suppose this projection is anything to go by, it means LUNC will experience a decrease from its current price by August 31, 2023, with LUNC currently trading at around $0.000079, according to data from CoinGeko. While this news is undoubtedly bearish for the LUNC community, there was more to cheer about following Binance removing 1.14 billion tokens from circulation as part of the LUNC burn mechanism. LUNC’s price also surged following this news, although it has since retraced. While the machine-learning prediction indicates a potential decline in LUNC’s price, it is important to note that the recent price spike following the Binance announcement demonstrates that positive developments can potentially reverse the trend of Terra Classic. Such events could potentially mean that we could see more uptrend from the token as the community continues to propose solutions that could see regain the confidence of investors and push its once stablecoin USTC to re-peg with the dollar. USTC Decision Likely To Affect LUNC Vegas, a member of the LUNC community, had earlier proposed in a tweet that the $800 million USTC tokens linked to the Ozone protocol should be returned to the Terra Classic community pool because of the ineffectiveness of the project and its failure to adhere to the proposed development plan. Meanwhile, there has been a conflicting proposal from Alex Forshaw, a co-author of the Terra Classic Revival Roadmap, who has proposed that the $800 million USTC tokens be burned instead. He believes that validators and stakers who have a strong influence on the ecosystem will most likely dump their tokens, leading to a further decline in the token’s value. While whatever proposal the community moves forward with will affect USTC’s price with the hope that it finally reclaims its peg with the US dollar, it will most likely affect LUNC’s price too. Currently, LUNC’s price is trending at $0.00007925, down 1.62% in the last 24 hours and 3.08% in the last 7 days. However, this downtrend could quickly reverse if the community is able to figure out a way to re-peg USTC to the US dollar.

MAHE, Seychelles–(BUSINESS WIRE)–The “2023 Exploring WEB3.0 Summit – Vietnam Station,” hosted by SureX at the CHAMPA ISLAND NHA TRANG–RESORT HOTEL & SPA in Vietnam, has drawn to a triumphant and resplendent conclusion. The summit, focused on cutting-edge technological concepts such as Web3.0 and DAO, assembled nearly 1000 global influencers including crypto teams, expert scholars, academic institutions, investment research bodies, corporate executives, crypto investment enthusiasts, practitioners, and other Web3.0 builders. The summit officially commenced on July 28th, 2023. In the keynote address, “Unveiling the Path to Success, Charting the Journey to the Future,” SureX Exchange’s CMO, Dato’ Seri Willie, provided an in-depth explanation of how the exchange successfully activated over one hundred thousand global users within a mere six-month span. He also displayed a distribution map of SureX global operational offices and outlined the structure of the user community. The roundtable discussion unfolded around two main topics: “In the current state of Web3’s development, how does one identify investment opportunities?” and “Imagining the Future of Web3.” Participants in this intriguing conversation included Dr. Huang Lianjin, CEO of DistributedApps.ai, One Alpha’s Business Supervisor Mr. Declan Rhys Sidey, SureX CEO and Founder Jacky Zhou, SureX Marketing Director Dato’ Seri Willie, and GateFi’s Technical Director Mr. Morgan. Mr. Jacky presented a series of views, emphasizing the need to focus on market trends and community feedback, as well as assess technological advantages and application potentials. He noted that decentralized exchanges would emerge as a trend, with Web3.0’s decentralized and cross-chain features offering convenience and security for cross-border transactions and trades among multiple tokens, that SureX Exchange would orchestrate an encrypted financial ecosystem to propel inclusive financial growth. Dato’Seri Willie, the CMO of SureX Exchange, excitedly announced a new benefit policy at the event, SureX will collaborate with a global community of several hundred thousand people to airdrop Dragon Token to all users within the SureX community. About SureX SureX, a globally leading cryptocurrency copy-trading platform, aims to build a friendly, low-barrier cryptocurrency trading ecosystem and constructs a global digital ecosystem that spans multiple countries and regions, and offering diversified digital asset financial services to users worldwide. Contacts JACKY ZHOU [email protected]

The company’s EBITDA grew by 31% progressively to $151 million. Robinhood is getting ready for expansion in the UK. Despite a decline in revenue, Robinhood announced profitable results for the second quarter of 2023, marking the first time the firm has turned a profit since becoming public. The trading platform had an 18% decline in quarterly revenue from crypto transactions to $31 million, as reported in its financial report on August 2. From $202 million in June of last year to $193 million this year, its revenue has dropped by 4%. Managed to Turn Profit Despite a drop in revenue, the firm nevertheless managed to turn a profit of $25 million, or $0.03 per share, in the second quarter of this year. Total operational expenditures have improved over the previous several months, decreasing by about $45 million on average. The company’s EBITDA grew by 31% progressively to $151 million, with the margin increasing by 5 percentage points to 31%. Last quarter, the total assets in custody rose by 13% to $89 billion on the back of “higher equity valuations and continued net deposits.” With a net deposit of $4.1 billion, Robinhood had an annualized growth rate of 21% compared to the first quarter of 2023 for assets under custody. Net deposits were $16.1 billion in the last 12 months, up 25% year over year. In anticipation of the upcoming second-quarter earnings releases for Coinbase (COIN) and Robinhood (HOOD), Ark Invest CEO Cathie Wood allegedly dumped millions of dollars worth of shares in both companies. On the other hand, Robinhood is getting ready for expansion in the UK. Because of this, a top executive from the British fintech company Freetrade has been recruited by the US stock trading app. Highlighted Crypto News Today: ASIC Files Lawsuit Against eToro Over CFD Offerings

The market has seen the rise and fall of several cryptocurrencies lately. While projects like Cardano (ADA) and Aptos (APT) have struggled to sustain their market share, a new project, Tradecurve (TCRV), has turned out to be the favorite of crypto experts and investors. Its presale is cruising high, and is set to rake in $20 million. >>Register For The Tradecurve Presale<< Cardano (ADA) Investors Are Out Of The Money Following the decision of Robinhood to delist Cardano after the SEC lawsuit, ADA has suffered a severe drop in its market value. The trading price of Cardano (ADA) has fallen by 18% in the past seven days. As a result, Cardano is now changing hands at $0.26. This sudden and severe price crash has caused panic among Cardano investors, as the value of their investment has tanked as well. According to recent data from IntoTheBlock, about 92% of Cardano holders are currently Out of The Money (OTM). Subsequently, the trading volume of Cardano has plunged since traders are not actively engaged in ADA trading. The development activity on the Cardano network has also declined in the last week, from 21 to 17.84 at press time. FUD Around Aptos (APT) Grows Although Aptos has managed to skirt the SEC scrutiny, the FUD has grown around APT. Subsequently, the exchange rate of Aptos has hit a roadblock by falling 22% in the last week. At the time of writing, Aptos is changing hands at $6.06. According to experts, the SEC’s lawsuit against Binance and Coinbase has made Aptos investors take a more cautious approach. Meanwhile, Aptos has taken steps to increase its adoption, and network activity. Recently, Aptos joined hands with Mastercard to build identity, security, trust, and verification tools. Besides, it recently gave a grant of $3.5 million to around 50 projects to develop on the Aptos network. Aptos was one of the biggest newsmakers in 2023, as it pumped by over 400% in January, but since then, it is tumbling. Tradecurve Presale Rules Crypto Market Tradecurve is a first-of-its-kind blockchain-powered exchange that allows the trade of a wide range of assets. Since the demand for decentralized exchanges is growing at an impressive rate of over 33%, the new platform is set to become a leader in the crypto industry. Besides cryptocurrencies, users can trade in several markets, including bonds, ETFs, and other derivatives, on this platform. Moreover, traders need not open multiple accounts or undergo any KYC process to trade different assets. The cross-chain platform enables traders to create an account by using an email id, and trade instantly. It also offers the opportunity for high-leverage trading. It has implemented DeFi capabilities to ensure the privacy protection of its users. On the contrary, other centralized exchanges, like Bitcoin and Gemini, are infamous for their privacy-infringing procedures. The platform’s presale round is advancing through the fourth stage after completing three stages at a staggering growth rate. The TCRV token’s price is currently $0.025, which was just $0.01 at the beginning of the presale. Since TCRV’s market value is projected to boost by 80x before the presale ends, you must book tokens as early as possible to gain massive profits. For more information about the Tradecurve (TCRV) presale: Website: https://tradecurve.io/ Buy presale: https://app.tradecurve.io/sign-up Twitter: https://twitter.com/Tradecurveapp Telegram: https://t.me/tradecurve_official Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Ethereum’s 8th anniversary was overshadowed by a 20.70% drop in trading volume. Bearish sentiment challenges Ethereum as it aims to breach the $2,000 mark. Ethereum, the second-largest cryptocurrency finds itself amidst a bear-dominated market. The ongoing battle between the bear and the bull has intensified over the past two weeks, driving down the price. Notably, the price of ETH has decreased by 6.16% in the last month and by 2.1% within the last 7 days. This downward trend has unnerved investors, resulting in a 20.70% drop in trading volume, which now stands at $5,576,261,147. Ethereum, also touted as the Silver Cryptocurrency, recently celebrated its 8th anniversary with investors’ hopes of breaking free from its bearish grip. However, these hopes were dashed as the price remained between a low of $1,817 and a near-miss high of $1,885. Concurrently, the market capitalization has also suffered a decline of 2.10% according to CoinMarketCap, resting at $220,706,624,490. Will Ethereum Bears Continue to Rule? An analysis of the daily price chart indicates a dip below the short-term 50-day simple moving average (50 SMA), underscoring the bearish sentiment. The 50 SMA currently stands at $1,858. Despite this, recent price movements over the past two weeks suggest Ethereum’s persistent efforts to regain bullish momentum. ETH Price Chart, Source: TradingView The daily Relative Strength Index (RSI) reveals that ETH has slipped below the neutral zone at 43, signaling a potential oversold condition. If this trend continues, the ETH/USDT pair could decline to $1,813, possibly further dropping to $1,700. However, Bulls aiming to avert a short-term decline must overcome the obstacle by the 20-day Exponential Moving Average (EMA), potentially leading to an upward movement toward $2,000. Currently, CoinMarketCap indicates Ethereum price at $1,837 with a decline of 1.33%. A Bullish Hope? Recently, Eric Balchunas, Bloomberg’s senior ETF analyst, and James Seyffart have meticulously summarized pending Ethereum (ETH) futures ETF requests under U.S. SEC review. Bitwise, Roundhill, VanEck, ProShares, and Grayscale submitted filings on August 1, 2023, with Volatility Shares on July 28. Currently, SEC is processing six Ether Futures ETF packages which await approval. Decisions are anticipated by mid-October 2023. If approved, it could empower wealth managers to invest in traditional ETFs. It will potentially boost the sector and spark a bull run. Will ETH reach $2000? Share your thoughts by tweeting us at @The_NewsCrypto

The looming prospect of a U.S. Department of Justice (DOJ) action against Binance, the largest crypto exchange, may hold a silver lining for Bitcoin and the broader markets. Even if this sounds crazy at first, there are good arguments for it. Rumors have been swirling for weeks about a potential DOJ action against Binance, a threat that has cast a long shadow over the markets, leading to increased volatility and uncertainty among investors. Yesterday’s report by Semafor has rekindled the rumor, but also gave it a new perspective, hinting that these developments may be a blessing in disguise for Bitcoin and crypto markets. According to the Semafor report, the DOJ is contemplating fraud charges against Binance but is also weighing the potential repercussions to consumers and the crypto market at large. Citing sources familiar with the matter, the report suggests that federal prosecutors are concerned that an indictment could trigger a “bank run” similar to the calamitous fate that befell the now-bankrupt FTX platform. This fear arises from the concern that a potential indictment could lead to a rapid withdrawal of funds, causing consumers to lose their money and potentially trigger a wider panic in the Bitcoin and crypto markets. To circumvent such a catastrophe, the prosecutors are exploring other options like levying fines or establishing deferred or non-prosecution agreements. What Does This Mean For Bitcoin And Crypto Markets? Interestingly, some crypto market analysts and commentators view this ongoing saga as a potential boon. Macro analyst Alex Kruger, in a recent Twitter post, speculated, “Too Big to Jail? Call me crazy but this seems bullish if true.” This statement captures the sentiment that if Binance is considered too important to be hit with crippling charges, the DOJ could explore less harmful alternatives. A similar view is held by renowned analyst Pentoshi, who said, “It doesn’t mean they won’t drop the hammer either. I think calling it “bullish” is a bit extreme since they are considering dropping the hammer. And if not billions in fines and CZ likely gone. But I def don’t think it’d as bearish as headlines first said at all. Bullish would be no DoJ involvement.” The prospect of the DOJ acting against Binance could also provide a much-needed clarity to the market. If Binance were indeed vulnerable to a bank run, it would quickly become apparent whether the exchange holds sufficient reserves. However, so far, Binance has impressively weathered previous “stress tests”, as highlighted by CEO “CZ” in a Twitter post in mid-December last year after the Mazars audit rumors, stating, “We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us.” This sentiment is echoed by CryptoQuant CEO Ki Young-Ju who shared data supporting the strength of Binance’s user balances despite constant rumors of insolvency. He stated: At press time, the BNB price stood at $239.5.

The CFDs available on the eToro platform are leveraged derivatives. The regulator also said that the platform did not have an adequate screening process. The Australian Securities and Investments Commission (ASIC) has launched a lawsuit against eToro, a stock and crypto trading platform. This is over allegedly allowing its users to engage in “high risk” leverage derivative products, specifically CFDs. On Thursday, August 3rd, ASIC released a statement claiming that eToro Aus Capital Ltd. had failed to meet distribution and design requirements for their CFD product. The CFDs (Contracts for Difference) available on the eToro platform are leveraged derivatives. No Adequate Screening Process Foreign exchange rates, stock market indexes, single stocks, commodities, and cryptocurrencies are just some of the assets on which purchasers may speculate using contracts for difference (CFDs). When providing leveraged derivative contracts to ordinary investors, the trading platform allegedly did not conduct enough screening. “High risk and volatile” is how ASIC described eToro’s CFDs. The regulator also said that the platform did not have an adequate screening process in place. In order to keep out consumers who shouldn’t be using the trading product. In addition, ASIC stated: The regulator has also claimed that eToro’s products were aimed at “far too broad” of an audience, with some users having a limited grasp of the dangers associated with CFD trading. On the other hand, after four tokens were identified as securities in litigation filed by the U.S SEC, eToro suspended trading in these tokens in the United States. Highlighted Crypto News Today: Worldcoin Aims To Expand Iris-Scanning Tech Via Open Source

Kaspa continues to captivate the blockchain sphere with its interesting nature as a Directed Acyclic Graph (DAG)-based proof-of-work (PoW) platform. Emerging onto the scene precisely when the blockchain realm was searching for an Ethereum (ETH) alternative, Kaspa’s protocol arrived as a timely solution. This came after Ethereum’s transition from proof-of-work to a proof-of-stake (PoS) framework the previous year. A DAG-based PoW is a variation of the traditional proof-of-work consensus mechanism used in blockchain systems. In a typical blockchain PoW system, miners compete to solve complex mathematical puzzles in order to add new blocks to the blockchain. This process requires significant computational power and energy consumption. The native coin of the Kaspa ecosystem, KAS, has recently generated significant attention. Its performance has been notably impressive, even in a challenging bear market. Currently priced at $0.04792611, according to CoinGecko data, KAS has exhibited a 17.3% surge in the last 24 hours. Over the past seven days, KAS has demonstrated an impressive climb of 23.3%. Driving Forces Behind KAS Coin’s Remarkable Growth Kaspa’s recent surge in prominence can be attributed to a strategic move that has set the stage for its remarkable growth trajectory. The blockchain platform has successfully concluded a crowdfund endeavor with a clear objective: securing a prestigious Tier-1 Exchange listing for its native token, KAS. The crowdfund, which reached its conclusion on Aug. 2, aimed to amass a substantial sum of $30,000, drawing contributions in USDT and KAS tokens. Insights into this crowdfund achievement, provided through an update via reliable sources, promise to be unveiled shortly. The anticipation surrounding these forthcoming details suggests a direct correlation between this significant milestone and the recent surge in KAS’s valuation. An astute Twitter user even pointed out an intriguing phenomenon: many traders appear to be divesting their Bitcoin holdings to acquire KAS tokens. Diverse Investor Engagement Fuels Kaspa’s Rise A July Medium blog post by Kaspa shines a light on the purposeful allocation of funds raised through this ambitious campaign. The primary objective of the amassed funds is to fulfill the listing fee requirements established by a centralized exchange (CEX) set to list the KAS token. The CEX will judiciously utilize this substantial capital to orchestrate an extensive and impactful advertising campaign. While the loyal native community has undeniably been a cornerstone of Kaspa’s growth, the entry of investors from diverse protocols, including Ethereum, has significantly fortified the project’s standing on a broader spectrum. As noted in a recent report, this influx of interest has magnified Kaspa’s allure, establishing it as an attractive proposition for a wider audience. In a distinct departure from its competitors, Kaspa has distinguished itself through its remarkable capacity to process an impressive 100 blocks per second. This exceptional throughput rate introduces a level of efficiency that renders it exceptionally suited for enterprise adoption. This technical prowess demonstrates Kaspa’s commitment to scalability and opens doors to a myriad of real-world applications. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Pexels

Hashkey will become the city’s first licensed Compliant Exchange for Crypto. Livio Weng, Hashkey Group COO, tweeted that a good card is coming. The Hong Kong Securities Regulatory Commission will approve the compliant exchange for the first time to provide service to retail investors. This approval comes after the Hong Kong Securities Regulatory Commission introduced cryptocurrency trading guidance for retail investors under a new set of licensing rules. On August 3, Livio Weng, Hashkey Group COO and former CEO of Huobi Global tweeted that “A good card is coming” with the image of the Hashkey exchange. This announcement boosts anticipation in the crypto community. Hashkey Group’s COO reveals through the announcement that the Hong Kong Securities Regulatory Commission will approve the compliant exchange. Hashkey Group is an end-to-end digital asset financial service group. It offers new investment opportunities and solutions for institutions. It becomes the city’s first licensed trading platform with the upgrade of its existing license. Hashkey Pro and OSL firms have secured compliance status by following Hong Kong’s regulatory standards. As of now, Hashkey Pro and OSL are the only two compliant exchanges. Moreover, only spot transactions for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) are available. This move comes as Hong Kong pushes to become the hub of cryptocurrencies.

XDC price reached its highest level since January 2022. The XDC token defies market decline and surges 35.54% in a day to reach $0.86. Singapore-based XinFin Network native cryptocurrency XDC has witnessed a significant rally for five consecutive days to reach its highest level since January 2022. The token’s price surged more than 300% from its monthly low, hitting an impressive $0.08 from $0.03. Despite a 1.88% decline in the global cryptocurrency market, XDC Network shattered its prolonged bearish trend and observed upswings. In contrast, major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) experienced drops of 1.68% and 1.27%, respectively. Top Gainers List (Source: CoinMarketCap) However, XDC price climbed over 35.54% in the last 24-hour, propelling its price to the $0.8 mark. Also, the token has dominated the top gainers list in the crypto market, as per CoinMarketCap data. XDC 24-Hour Price Analysis At the time of writing, XDC Network traded at $0.86 with a 24 hour trading volume of over $27.9 million, up 37%. The daily chart reveals a strong bullish trend for XDC, with the token surging above the crucial resistance level at $0.065. XDC Price Chart (Source: Tradingview) Further, the XDC price has risen above the 50-day exponential moving average (EMA), signaling an uptrend. Also, the cryptocurrency’s Relative Strength Index (RSI) entered overbought territory at 8.46. According to the data, if the token continues its bullish momentum, it will reach the resistance of $0.09. If the trend continues, the price will break through $0.12 and even advance to surpass $0.5. If the bear occupies the trend, XDC price will fall to the $0.5 to $0.4 mark. XinFin Network, a hybrid blockchain platform, aims to emerge as a leading alternative to established chains like Ethereum, Cardano, and Hedera Hashgraph in the blockchain industry. Also, the platform offers support for smart contracts, decentralized applications (DApps), and seamless cross-border transactions. Recently, the network made headlines with its participation in an upcoming event in Toronto, Canada, indicating its growing influence and presence in the blockchain industry.

Bitcoin price is moving lower below $29,500. BTC could start a fresh increase if there is a close above the $30,000 resistance zone. Bitcoin is slowly moving lower below the $29,500 pivot level. The price is trading below $29,300 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $29,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase toward the $29,750 resistance zone. Bitcoin Price Starts Fresh Decline Bitcoin price struggled to clear the $30,000 resistance zone. BTC started a fresh decline below the $29,750 and $29,500 support levels. There was a close below $29,200 and the 100 hourly Simple moving average. The price even spiked below the $29,000 level. A low is formed near $28,932 and the price is now consolidating losses. The price is now trading near the 23.6% Fib retracement level of the downward move from the $30,000 swing high to the $28,932 low. Bitcoin is now trading below $29,300 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $29,100 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $29,275 zone and the 100 hourly Simple moving average. The first major resistance is still near the $29,450 level or the 50% Fib retracement level of the downward move from the $30,000 swing high to the $28,932 low. Source: BTCUSD on TradingView.com The next major resistance is near the $29,750 level, above which the price might rise toward the $30,000 resistance zone. A close above the $30,000 resistance zone could start a decent increase. In the stated case, the price may even surpass the $30,400 resistance. More Losses In BTC? If Bitcoin fails to clear the $29,450 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,100 level and the trend line. The next major support is near the $28,750 level, below which the price could accelerate lower. The next support is near the $28,40 level. Any more losses might call for a move toward the $28,000 level in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,100, followed by $28,750. Major Resistance Levels – $29,450, $29,750, and $30,000.

Remote-First-Company/SAN DIEGO–(BUSINESS WIRE)–Coinbase Global, Inc. announced today that Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Oppenheimer 26th Annual Technology, Internet & Communications Conference on Wednesday, August 9, 2023 at 2:55 pm ET / 11:55 am PT. A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com. Disclosure Information Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our Twitter feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s Twitter feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. About Coinbase Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy. Contacts Press: [email protected] Investor Relations: [email protected]

According to Etherscan data, the number of active ERC-20 addresses has not changed much in 2023. It has stayed between 200,000 and 300,000 while Ethereum prices stagnate below July 2023 highs. As of August 2, there were about 275,000 active ERC-20 addresses, up from 156,000 on June 18. Although activity has been low overall, there was a significant increase on June 11, with over 446,000 active ERC-20 addresses. Ethereum’s price trajectory has been tumultuous in tandem with this activity pattern, looking at the charts. For instance, Ethereum bulls have failed to breach the $2,100 liquidation level posted in the latter stages of H1 2023. Ethereum Prices Volatile, Few Coins Burned At the moment, ETH prices hover around the $1,800 range, teetering precariously and likely to drop, looking at candlestick arrangements in the daily chart. Although Ethereum has been bullish in the past two months, bulls have been tamed, and a drop below the $1,800 level may signal a shift from bullish to bearish in the medium term. With ETH under pressure, the number of active ERC-20 addresses remains constant and relatively lower than the 2021 peaks. This means there is less demand for ETH, which is used to pay transaction fees. As a result, gas fees are lower because there is less competition for block space. Typically, this would encourage more people to participate and even deploy complex contracts in decentralized finance (DeFi). With EIP-1559 in the equation, low activity means fewer coins are taken out of circulation. Despite low network activity, the protocol continues to issue 2 ETH after each validated block, watering down deflationary effects enforced by EIP-1559. DeFi Activities Falling Falling activity could be attributed to the waning interest in decentralized finance (DeFi) activities over recent months. As of August 2, the total value locked (TVL) remains below $50 billion, with a significant portion of assets tied in Ethereum. DeFi projects like LidoDAO, Curve, and Uniswap facilitate the trading of ERC-20 tokens. Furthermore, on-chain data highlights USDT as the most actively transacted token. Given its position as the third-largest coin by market cap, with substantial circulation in Ethereum and Tron networks, such a trend is expected. Looking back at ERC-20 transactions from June and July, it is evident that transfers stayed constant despite temporary price increases. Ethereum prices rose from $1,630 to $2,000 between mid-June and mid-July 2023, but ETH is now lower. On-chain ERC-20 activity has remained stable despite price volatility. It’s unclear whether there will be a change in activity as prices continue to drop. However, lower prices may force token holders to wait and see, leading to less activity.

Bitcoin price is nowhere near setting new all-time highs, but an important long-term price average is doing so, day after day, month after month. What is this moving average being referenced, and what does it setting new highs potentially mean? Meet The Moving Train: The 50-Month Moving Average As Bitcoin and the rest of the crypto market grind painfully sideways, a key measure using a moving average of BTCUSD price action is rising steadily, now at its highest point ever historically. The moving average in reference is the 50-month moving average (50MA). To calculate the span, simply take the last 50 months worth of BTCUSD closing prices, add them together, then divide them by the 50 (the number of months worth of data in the period). Traders use moving averages for a variety of reasons. This includes as trend-following tool, as trend lines, and for timing entries and exits. Such signals trigger when price passes above or below the span, or if two moving averages crossover one another in a two-moving average system. These are called a golden cross or death cross. What The 50MA Hitting ATHs Means For Bitcoin The 50-month moving average making new all-time highs, general means the primary trend is still up. The chart above shows the long-term uptrend clearly without the noise of candlesticks or price action. With the candlesticks turned back on, Bitcoin is above the span — another bullish sign. BTCUSD closed above the 50MA back in March 2023 and has since held above it for several months. Notably, Bitcoin lost this level for the first time back in June 2022. Meanwhile, the top cryptocurrency bottomed precisely at the 50MA in 2018 and again in 2020. The 50MA is currently at $26,353 and could act as support of retested. If lost, it could be a sign the longer-term trend is turning bearish. The 200-week moving average, another similar high timeframe price indicator that is used widely in technical analysis, is also at a similar level and trending upwards. This chart originally appeared in Issue #14 of CoinChartist (VIP). Subscribe for free.

Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, has recently suggested that Bitcoin’s (BTC) underperformance compared to the stock market may be a warning sign for investors. BTC’s Failure To Outshine In A Bull Market McGlone notes that Bitcoin has declined compared to the Nasdaq 100 stock index since its 2021 peak and April bounce. This waning performance may presage rising headwinds not only for Bitcoin but also for the broader crypto market. McGlone stated: Notably, McGlone points to the most aggressive liquidity pull from central banks in history, which may be a significant factor in Bitcoin’s underperformance. The Federal Reserve (Fed) is still sighting in 3Q, despite the producer price index finished-goods gauge at minus 3.1% and dropping from 2022’s 18.3% peak at its fastest pace since 1948, which may be part of what underperforming Bitcoin is “sniffing out,” according to McGlone. On a one-year basis to August 1st, Bitcoin is up just over 20%, similar to the Nasdaq, yet the crypto’s volatility is about two times greater. McGlone believes Bitcoin’s underperformance may be a warning sign for the broader market. The fact that Bitcoin is not outperforming as it should be in an everything-bull market could indicate that more significant market issues are at play, particularly in the face of aggressive liquidity pulls from central banks. Bitcoin And Ethereum Volatility At Historic Lows In a statement shared with NewsBTC Luuk Strijers, the Chief Commercial Officer at Deribit, a prominent cryptocurrency derivatives exchange, has recently stated that the Deribit Volatility Index (DVOL) for both Bitcoin and Ethereum is currently trading at an all-time low. This is a significant development, especially since the DVOL for ETH is trading below the DVOL for BTC, which is a rare occurrence and may have been caused by the activity of a single large trader, commonly known as a whale. Despite the current low levels of volatility, Luuk Strijers highlights that the market is anticipating a considerable upswing in volatility shortly. This expectation is driven by several factors, including the upcoming ruling on the Blackrock spot Exchange-Traded Fund (ETF) and the approaching Bitcoin Halving. Strijers notes that Deribit has been observing signs of these expectations in the market, such as the significant steepness of the term structure, with June ’24 trades at approximately 50, and the enduring call skew. These indicators suggest that the market is anticipating increased volatility and potential price movements shortly, despite the current low levels of volatility. The Blackrock spot ETF ruling is anticipated to impact the cryptocurrency market significantly. If approved, the ETF will allow investors to gain exposure to Bitcoin without directly holding the cryptocurrency, potentially increasing demand and driving up prices. On the other hand, if the ruling is not approved, it may lead to a temporary drop in prices and increased volatility. The approaching Bitcoin Halvening, which is expected to occur in 2024, is another factor contributing to the anticipation of increased volatility, according to Strijers. The Halvening is a significant event in the Bitcoin network that occurs roughly every four years, where the block reward for Bitcoin miners is cut in half. This tends to reduce the supply of Bitcoin on the market, potentially driving up prices and increasing volatility. Despite the current low levels of volatility, Strijers suggests that investors and traders should remain vigilant and prepare for potential price movements and increased volatility in the cryptocurrency market. At the time of writing, BTC is trading at $29,100, representing a slight increase of 0.8% in the past 24 hours. Featured image from iStock, chart from TradingView.com

Litecoin has completed its much-anticipated halving event today, but it seems the investors have reacted by participating in a selloff. Litecoin Has Completed Its Third Halving, Block Rewards Now Down To 6.25 LTC The “halving” event is where LTC’s block rewards are permanently cut in half. This event is periodic, occurring approximately every four years or roughly every 840,000 blocks miners hash. Today’s halving was Litecoin’s third, meaning its block rewards have been cut three times since its genesis. In the first halving, the cryptocurrency saw its block rewards go from an initial 50 LTC to 25 LTC, and with the second, the tips dropped further to 12.5 LTC. With the latest halving event, miners’ rewards for solving blocks have been cut down further to 6.25 LTC. The reason that halvings even exist is because they serve as a measure for controlling the asset’s inflation. These block rewards that miners receive are the only way to introduce fresh tokens into the circulating supply, so cutting them down repeatedly makes sure that the cryptocurrency’s supply goes up slower and slower. Eventually, when the halvings would keep on happening, the block rewards would approach zero. This would occur approximately in 2142. After this point, the asset’s supply will hit the maximum cap, and the miners will have to rely on transaction fees to pay off their running costs. As halvings are important events, it’s natural that there has been a lot of discussion around this latest event as it has approached. During the start of July, the asset had observed a sharp rally towards the $114 mark, as the market had perhaps become hopeful for the halving, which was only one month away. This rally, however, ran out of steam soon enough, and since then, LTC has struggled to put together any significant bullish momentum. Today’s halving hasn’t been able to change anything in this matter, either, as Litecoin has only plummeted further instead. It would appear that the event has indeed been a buy the rumor, sell the news type of scenario. Following the latest plummet, Litecoin has gone below the $87 level and is down almost 7% during the past 24 hours. These high losses mean that LTC has been the poorest-performing coin out of the top cryptocurrencies by market cap in this period. While the price performance of the asset might have been poor, LTC supporters may take solace in the fact that the asset has come forward a lot in terms of other network-related metrics since the previous halving, as data from IntoTheBlock shows: Interestingly, the price at which both halvings happened was approximately the same. The cryptocurrency seems to have done well in terms of userbase and utility-related growth. This impressive rise in adoption may be because Litecoin offers cheap and fast transactions compared to some other networks like Bitcoin. LTC investors can only hope, however, that this growth may also show up in the price.

Shiba Inu, a cryptocurrency that originated as a meme but has now solidified its market presence, is making waves with the ‘Shibarium’ launch on the horizon. Data from IntoTheBlock reveals that the crypto’s whales – entities holding large quantities – have shifted billions of SHIB tokens in the past 24 hours. This vast movement of funds coincides with an increase in Shiba Inu’s large transaction volume, reaching roughly 1.13 trillion SHIB. It appears that large-scale investors are making their moves in anticipation of the cryptocurrency’s next big announcement, which is likely to be the Shibarium launch. Whales And Burn Rates – Shiba Inu Active Market The metric of large transaction volumes serves as a key indicator, offering a snapshot of the activities carried out by prominent players, often called ‘whales,’ within the crypto ecosystem during a specific timeframe. This measure mainly provides valuable insights into the magnitude of transactions made by these influential participants on any given day, reflecting their potential impact on the market dynamics. IntoTheBlock defines large transactions as transfers exceeding $100,000. And as it stands, the recent activity shows increasing movements on the Shiba Inu market, with whales adjusting their holdings. Simultaneously, there has been a significant uptick in the burning of SHIB tokens, doubling in the past 24 hours. According to data from Shibburn, a platform solely for tracking Shiba Inu burn activities, over 62 million SHIB tokens have been eliminated from circulation in the past day, increasing the total SHIB burn rate by 220% over the same period. Notably, this deliberate reduction of available tokens is a strategy often used in the crypto sphere to create scarcity and potentially drive up the value of the remaining tokens in the long, in this case, the price of SHIB. The Shibarium Anticipation The recent activity among SHIB’s largest holders may be connected to the upcoming Shibarium launch. Bitcoin advocate Davinci Jeremie has recently expressed his bullish sentiment on X (formerly known as Twitter), stating, “Big things are happening for Shib looking forward to [seeing] what happens.” Further fuelling the anticipation, the official SHIB account on X also hinted at the community with a post featuring a cheerful expression of a Shiba Inu dog. However, the specifics of what these “big things” could be remain uncertain, further stoking the fires of curiosity and excitement among the Shiba Inu investors. However, as the curtain rises on the next chapter for Shiba Inu, the recent flurry of whale activity and the increased burn rate underline a market bracing for impact. Whether the coming changes propel SHIB to new heights or steer it down another path is a story that remains to be written. Meanwhile, Shiba Inu token SHIB has seen quite a retrace in the past 24 hours following a more than 5% increase over the past 7 days. At the time of writing, SHIB trades for $0.00000817 down by 1.1% in the past 24 hours. Featured image from Unsplash, Chart from TradingView