Ripple Labs Inc., the company behind the XRP token, has released its Q2 XRP Markets report. As part of the report, the company shared its XRP holdings as of March 31, 2023, and June 30, 2023. Ripple’s XRP Holdings Ripple revealed that its XRP holdings fall into two categories; wallet-held XRPs and ones in escrow lockups (Ripple releases one billion XRP monthly as part of its monthly token unlock). As of March 31, 2023 (representing the first quarter of the year), Ripple held 5,506,585,918 XRP and a further 42,800,000,013 XRP subject to on-ledger escrow. Meanwhile, as of June 30, 2023 (representing the second quarter of the year), the company held 5,551,119,094 XRP, and a further 41,900,000,005 XRP were subject to on-ledger escrow. From the report, Ripple grew its XRP holdings in Q2 as the Q2 figures are slightly up from the Q1 figures. However, its XRP tokens in escrow at the end of Q2 slightly reduced compared to the Q1 figure. Ripple Addresses Popular Misconceptions Ripple also addressed some misconceptions from the recent court ruling that XRP isn’t a security. On July 13, 2023, Judge Analisa Torres ruled in favor of Ripple in the ongoing case between the crypto company and the United States Securities and Exchange Commission (SEC). The first misconception Ripple addressed in the report was whether or not the ruling was a split decision, as several media outlets had tagged Ripple’s victory again the SEC as a ‘partial victory.’ The crypto firm has debunked this claim by categorically stating that the ruling isn’t a split decision. Ripple stated that the ruling was a big win for its firm and the crypto industry as it provides regularity clarity not only for Ripple but also to other token issuers, as they can now determine that their tokens, in and out of themselves, are not securities. The company also stated in the report that its XRP tokens were never a security. It admitted that there are instances where XRP (just like “an orange grove or a gold bar”) can be sold as an investment contract. However, such events don’t “magically transform” the token into a security. Ripple’s XRP enjoyed a significant rally following the court’s ruling, but there remain concerns that an appeal from the SEC could see the token lose most of its gains from the post-lawsuit rally. As of the time of writing, XRP is trading at $0.69, according to data from CoinGeko. Featured image from iStock, chart from Tradingview.com

Evolving airdrop strategies reward engagement, governance, and blockchain participation. Users engage with projects, testnets, and ecosystems for airdrop eligibility. As the cryptocurrency landscape continues to evolve, the allure of airdrops remains a powerful tool for projects seeking to engage users. Airdrops, which involve the free distribution of tokens to selected participants, have transformed from simple social tasks to advanced strategies aimed at rewarding early adopters and significant contributors. In this article, we delve into several promising cryptocurrency projects gearing up for Top 5 Airdrops in 2023. MetaMask MetaMask, a leading crypto wallet renowned for its user-friendly interface, is making waves with its plans to introduce a native token for governance. This move aligns with the ethos of progressive decentralization. It aims to empower users through a DAO (Decentralized Autonomous Organization) structure. Meanwhile the specifics of the airdrop remain unconfirmed. MetaMask’s pivot towards enhancing user engagement and control highlights a trend towards more airdrop incentives. Sei Network Sei Network, a Layer 1 blockchain built on Cosmos, is on the cusp of launching its mainnet. The project’s emphasis on scalability, speed, and reliability for decentralized exchanges (DEXs) sets the stage for a compelling airdrop strategy. Participants engaging with Sei Network’s testnet missions stand to earn token rewards. It underscores the project involving its community in the development process. This innovative approach demonstrates a shift towards rewarding active users. ZigZag ZigZag, a decentralized exchange operating on zkSync technology, has already released its native token, which powers its exchange DAO. While the airdrop is confirmed, its eligibility criteria will be determined by ZigZag token holders through the DAO. This democratized approach to airdrop criteria aims to reinforce the notion that participation and involvement hold the key to reaping airdrop rewards. LayerZero LayerZero’s inter-chain communication protocol, constructed on Omnichain, will revolutionize information transfer between distinct blockchain networks. While an official airdrop announcement is pending, engaging with LayerZero’s projects, particularly Stargate, is expected to shape eligibility. This approach motivates users to play an active role in the protocol’s ecosystem, potentially positioning them for upcoming airdrop opportunities. Fuel Fuel, a modular blockchain architecture, is exploring the potential for an airdrop. It follows the footsteps of Layer 2 blockchains like Arbitrum and Optimism. With its emphasis on scalability and specialization, its airdrop strategy is expected to mark another milestone in the evolution of token distribution. Moreover, The availability of the testnet serves as an entry point for enthusiasts and stakeholders to engage with the Fuel ecosystem. In Conclusion Finally, As cryptocurrency projects continue to harness the power of airdrops, the landscape is shifting towards more community-centric strategies. From empowering users through governance tokens to fostering engagement with advanced blockchain technologies, these upcoming top 5 Airdrops in 2023 signal a new era.

CHF500million deal believed to be the single largest enterprise blockchain IP investment to date LONDON–(BUSINESS WIRE)–Ayre Group founder and Antiguan/Canadian citizen Calvin Ayre has finalized agreements to take a controlling interest in nChain, the global leader in blockchain and Web3 technology, in a deal that will transform the trillion-dollar blockchain and Web3 sectors. The internet is rapidly shifting from Web2 to the decentralized, blockchain-reliant Web3. This evolution will disrupt the established internet giants who lack the technological foundations to handle the ground shifting under their feet. As Forbes recently observed, nChain’s patents “affect everything from the US$1 trillion cryptocurrency market to corporate implementations built by some of the largest companies in the world.” The deal, believed to be the single largest enterprise blockchain IP investment to date, will see Ayre Group invest up to a total of CHF500 million (€516 million/£443 million). The sum consists of an equity acquisition of nChain by the Ayre Group, an IP licensing deal for Ayre Ventures portfolio companies, and a line of credit. To date, nChain has been awarded nearly 800 technology patents with over 3,000 more presently awaiting approval, a wide-ranging intellectual property library representing the fundamental building blocks on which these next-generation internet products and services will be built. nChain’s IP is the DNA of the new internet, encompassing Web3 precursors, non-fungible tokens, smart contracts, and everything in between. nChain has a heavyweight R&D team dedicated to turning its vast IP library into workable applications. nChain was included in the LexisNexis Innovation Momentum 2023: The Global Top 100 report of companies advancing innovative solutions to today’s challenges and laying the IP foundations for further breakthroughs. Ayre Group Founder Calvin Ayre commented on the deal: “For the better part of a decade, nChain and its London-based Chief Scientist Dr. Craig Wright have been quietly amassing a patent portfolio of unparalleled scope, literally the foundational elements of enterprise blockchain, AI and Web3. My goal is to accelerate the pace of nChain’s development and increase the commercial adoption of its extensive IP library.” Ayre is a vocal supporter of the BSV Blockchain but says nChain’s patents are “blockchain-agnostic. There isn’t a single blockchain or Web3 project out there that isn’t standing on the shoulders of nChain’s patent library—the earliest, largest, and highest quality collection in this space.” BSV’s combination of unbounded scaling capacity, ultra-low transaction fees and integration with IPv6 make it the only enterprise blockchain on which the internet of the future can be fully realized. Stefan Matthews, nChain’s Co-Founder and Executive Chairman, added: “Calvin has been a strong advocate for nChain over the years. His decision to take a greater equity position in the nChain Group signifies his confidence in our business model and the value that we hold in our patent portfolio, software development and consulting services.” Christen Ager-Hanssen, nChain´s Group CEO said: “nChain’s bold mission is to catalyze an unprecedented transformation, propelling the world from Web2 to Web3 at an astounding pace. This groundbreaking shift will not only revolutionize our lives but also shake the very foundations of industries far and wide. With Calvin’s unwavering dedication and visionary leadership, nChain is poised to spearhead the creation of a trillion-dollar ecosystem, leaving an indelible mark on the world, making it a better place for generations to come.” About Ayre Group Ayre Group are a global investment group that fund ground-breaking businesses and technologies. They invest in building ventures in real estate, blockchain technology, media, publishing, health & wellness and travel & leisure. Ayre Group build and support technology and businesses that break down barriers to entry, democratize opportunity, and positively enhance people’s lives. About nChain nChain is a leading global blockchain technology company, offering software solutions, consulting services and IP licensing for clients in various industries looking to benefit from the security, transparency and scalability of the blockchain. Founded in 2015, with offices in Lichtenstein, Switzerland, the UK and Slovenia, nChain employs more than 240 staff, holds nearly 800 patents and is the developer of the Bitcoin SV Node software, Teranode, LiteClient and more. About Calvin Ayre Calvin Ayre is a celebrated entrepreneur with an established track record of building successful internet-based businesses. In the mid-1990s, he was among the first to see online gambling’s breakout potential, leading to the launch of his market-leading Bodog brand and his appearance on the cover of the 2006 Forbes ‘Billionaires’ issue. Since leaving the gaming industry, he has focused on the Ayre Group, which invests in real estate, travel & leisure, blockchain/Web3 and media/publishing projects. Ayre Group also produces the London Blockchain Conference, the world’s largest annual Government and Enterprise Blockchain conference. Contacts Lightning Sharks on behalf of Ayre Group Haris Khan, PR, and Media Manager – [email protected] – +44 (0) 7503 581 563

Etana Onboards WeStreet Credit Union in Partnership with CryptoFi to Provide Secure and Regulated Trading Environments to Members DENVER–(BUSINESS WIRE)–Etana Custody (Etana), an industry leader in digital asset custody and trade support solutions announced the successful onboarding of WeStreet Credit Union in collaboration with CryptoFi, a Cryptocurrency-as-a-Service (CaaS) company. The aim is to revolutionize the access and management of digital assets for credit union members by leveraging CryptoFi’s interface and Etana’s comprehensive custody platform, providing convenience, security, and confidence in asset management. “Our members have shown a strong demand for digital assets, and as a credit union, we place their financial well-being as our top priority. Through the collaboration between CryptoFi’s innovative software solutions and Etana’s regulated crypto custody services, we are able to provide a secure trading environment for our members and convenient access to digital assets,” said Eric Hilaire, Chief Digital Officer of WeStreet Credit Union. Through its partnership with CryptoFi, Etana aims to onboard numerous credit unions onto its custodial platform, which safeguards assets from fraud and theft. This offering enables credit unions and other financial institutions to efficiently generate revenue from digital asset services while retaining customers who may otherwise seek alternatives. Moreover, the solution is cost-effective to implement, eliminating the need for extensive in-house resources, and mitigates counterparty risk on behalf of the financial institution. “Concerns surrounding the storage of digital assets are growing among financial institutions, prompting a greater demand for a regulated custodian,” explained Brandon Russell, CEO of Etana. “By leveraging our robust custodial platform and comprehensive digital asset trading, clearing, and settlement services, we are capable of delivering bank-grade security that credit unions can rely on to provide the highest trust and confidence to their members.” Etana’s industry-leading custody and trade support solutions allow clients in more than 100 countries to manage global currencies and digital assets from a secure environment with the ability to buy and sell directly from custody, eliminating risky transfers and inefficient transactions. Its comprehensive solution utilizes integrated technology to guarantee asset availability while allowing members of credit unions to mitigate risk. Balances are readily accessible for trading through the credit union’s online member portal or mobile app, eliminating the need for lengthy or costly transfers. “By collaborating with a world-class custodian like Etana, we mitigate the risks associated with cryptocurrencies for credit unions and their members. Through the combination of our Crypto-as-a-Service (CaaS) solutions and Etana’s multi-asset custody and support, we establish a secure trading environment that enables members to manage their digital assets with confidence,” explains Kian Sarreshteh, Co-Founder and CEO of CryptoFi. About Etana Custody Etana Custody is a Colorado chartered trust company that offers a comprehensive technology platform that allows institutions, investment professionals, exchanges and individuals the tools to provide the highest level of oversight, security, and fiduciary responsibilities to its global clients. Etana’s integrated platform allows the custody of traditional G10 currencies and digital assets through its cold, hot, or MPC wallet solutions. In addition, Etana’s high compliance standards give clients peace of mind, knowing their assets will stay protected and secure. For additional information. www.etana.com. About CryptoFi CryptoFi is a Cryptocurrency-as-a-Service (CaaS) company building innovative technology solutions that expand access to digital assets. CryptoFi’s solutions seamlessly bridge the gap between traditional finance and digital assets, compliant with all regulations. CryptoFi offers a seamless crypto trading and education interface for credit union members and bank customers and a robust set of management, data analytics, marketing, and support tools. Our focus is unlocking value for our clients through increasing user acquisition and retention alongside a new stream of non-interest income, visit www.cryptofi.com About WeStreet Credit Union WeStreet Credit Union was established in 1943 on the philosophy of people helping people. Today, WeStreet has grown to over 56,000 members, $920+ million in assets, more than 200 employees, and serves 11 Northeast Oklahoma counties with 14 convenient locations. WeStreet Credit Union is a community-minded financial institution focused on serving and enriching the lives of others. By creating a welcoming and supportive atmosphere, WeStreet helps neighbors become members and members become family. For more information about WeStreet Credit Union, visit www.westreet.org Contacts Leslie Maddox [email protected]

DUBLIN–(BUSINESS WIRE)–The “China PC Games Market & 5-Year Forecast Report 2023” report from Niko Partners, Inc. has been added to ResearchAndMarkets.com’s offering. This latest report on the PC Games market in China provides a comprehensive guide and insightful analysis to those aiming to navigate and tap into the lucrative China market. China remains a powerhouse in the global games industry. It is the largest games market globally with one-third of global PC games revenue generated domestically. At the same time, Chinese game companies are expanding their reach globally, accounting for 39% of PC games revenue worldwide. As the country reopens and its gaming sector sees a rebound, it is important to deeply understand the Chinese gaming scene from companies & games-to-watch to regulations and games licenses. And despite regulatory and licensing challenges, several international hit game titles are available in China via platforms such as Steam International. There are other loopholes in the ISBN system as well, which are important to understand. Key takeaways from the analysis: The total market for PC, mobile and console games revenue in China was $45.5 billion in 2022 and is forecast to surpass $57 billion in 2027 China continues to be the largest market in the world with one-third of global PC games revenue generated domestically By 2027 China will be home to 730 million gamers. The country’s population is declining but the number of gamers is rising. China’s market and Chinese companies cannot be ignored. Chinese companies account for 39% of PC games worldwide, including in the domestic China market Tencent and NetEase commanded a combined 61% share of domestic PC games revenue in 2022. While the duopoly continues to dominate the games market, the combined market share was lower than in 2021 due to weak performance from legacy titles and a lack of new title launches – indicating other competitors are gaining ground. The publisher projects that more than 1,000 domestic games and 100 import games will be approved in 2023, surpassing 2021 and 2022 totals. Key Topics Covered: 1. Market Size and Forecast A comprehensive market model and 5-year forecast through 2027 2. Growth Drivers and Inhibitors? Key growth drivers and inhibitors for PC games revenue in 2023 and beyond Outlook on PC Gaming after the End of zero-COVID Policy International and domestic revenue growth projections 3. PC Games Market Update? Genres to watch Games to watch Analysis on top genres and titles in 2022 Aftermath of Blizzard PC titles shutdown Other key developments 4. PC Games Market Trends? Artificial Intelligence Generated Content (AIGC) technology Cross platform games and IP Success story of indie game developers 5. Gamer Survey Results and Analysis? Findings of the proprietary survey of 1,575 Chinese gamers Qualitative and quantitative analysis on gamer demand, gaming and spending behavior, and usage for PC games 6. Top PC Games, Publishers, and Distributors? Top PC games by revenue Top PC game publishers by domestic market share Top PC game distribution platforms 7. Esports and Livestreaming? Esports industry revenue and outlook Top esports game genres and titles Gamer engagement with esports Livestreaming metrics Top platforms for watching gaming and esports content 8. Hardware and Location? Icafe and esports hotels Play-to-earn (P2E) concept and Web3 games 9. Regulations and M&A? Overview on new regulations NPPA licensing and license forecasts Investment activity Companies Mentioned 7Doc Activation Blizzard Ali Pay Alibaba Bad Mud studio Baidu BesTV Bilibili Blizzard Bungie Bytedance Capcom Changyou CMGE Digital Confectioners Digital Extremes Douyin Douyu Electronic Arts From Software G-bits Gaggle studio Giant Interactive Huya HyperGryph Kingsoft Konami Krafton Kuaishou Lightning Games Lilith Games Microsoft MiHoYo Net Dragon NetEase Ourpalm Pathea Games Perfect World Pixmain Respawn Entertainment Rockstar Games Seasun SNK Steam (Valve) Thinking Stars Tongcheng Ubisoft Wargaming We Chat WeGame Weibo Wizard Games Xiaoice Yooreka Studio Yostar For more information about this report visit https://www.researchandmarkets.com/r/azejoj About ResearchAndMarkets.com ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Contacts ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

Responding to the Sui community, the network’s newest feature adds functionality to support liquid staking apps while preserving diversity of validators GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–The Sui Network, a groundbreaking Layer 1 blockchain that leverages an object-centric data model to provide a more performant infrastructure layer for Web3, today launched functionality that enables liquid staking as part of its latest network upgrade. A high priority for the Sui community, the upgrade will enable developers to offer services allowing token holders to receive derivative tokens proportional to the value of their staked SUI tokens, opening up new possibilities within the network’s burgeoning DeFi ecosystem. The updated implementation of staking on Sui is a testament to the network’s community-driven development. Through the changes based on Sui Improvement Proposal (SIP) #6, formulated by a proactive team within the Sui community, Sui developers will now be able to offer fully non-custodial liquid staking solutions. Community approval was instrumental in launching SIP #6 on the Sui network. Because of the Sui network’s unique architecture, third-party liquid staking apps on Sui will offer the benefits of liquid staking — more incentives for staking and ultimately greater network security — without concentrating staking power in one or a few validators. In general, liquid staking consists of two parts. First, a third-party Move package issues a derivative token (e.g. on Ethereum, stETH) in the same amount as the staked token. For example, a staker of 100 Sui might receive 100 stSUI (where stSUI is a hypothetical derivative token issued by a third party package). This derivative token can be used for other purposes, traded, loaned etc. The second aspect relates to the original token, which remains staked, continuing to help secure the network as part of the consensus process. Sui’s formulation differs from those of other networks in one key respect. Other networks rely on third party liquid staking protocols for both aspects of the liquid staking process. They issue the derivative and also determine the validators where the staked tokens are delegated. On Ethereum, for example, Lido provides both of these functions. Conversely, on Sui, these two aspects remain distinct. Most importantly, unlike other networks, the staker can stake their original tokens with any validator on the network that they choose. In general, liquid staking has the benefit of promoting decentralization by offering greater utility for stakers and thus increasing the incentives to stake and secure blockchain networks. However, constraining the stakers’ choice of validator has the opposite effect by concentrating power in one or a few validators on the network. Sui’s liquid staking formulation avoids this pitfall. “Adding native support for liquid staking dApps as part of the Sui core technology addresses a clear need voiced by our community members who wanted to participate in securing the Sui Network without sacrificing liquidity,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are thankful for the continued dedication and ingenuity displayed by the Sui community in generating and approving SIP #6, and we look forward to seeing how developers will use this new functionality to build on Sui.” About Sui Network Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences. Learn more: https://sui.io Contacts [email protected]

Bone ShibaSwap positioned itself among the top gainers. The trading price of Maker (MKR) has shown an increase of over 15.09% in the last 24 hours. The crypto market has experienced remarkable growth and significant developments in recent days. There were new coins introduced in the crypto market that gained the attention of investors and traders. As investors are closely watching the crypto market’s volatility, some cryptocurrencies have captured the top gainer spot with a standout performance. Let’s observe the cryptocurrencies that emerged as the top gainers in the crypto market. According to CoinMarketCap, XDC Network (XDC), Bone ShibaSwap (BONE), and Maker (MKR) are the top gainers in the last 24 hours. XDC Network (XDC) XDC Network (XDC) has emerged as the top gainer in the crypto market. The cryptocurrency XDC has continued its positive trend over the last few weeks and has shown a significant surge of 16.18%, capturing the attention of investors. XDC Network (XDC) Trading Price Chart (Source: CoinMarketCap) At the time of writing, the trading price of XDC Network is $0.06806, with an increase of over 16.18% in the last 24 hours. The daily trading volume of XDC has experienced a surge of over 74.26%, according to CoinMarketCap. Moreover, the XDC trading price is expected to maintain strong bullish momentum in the coming days. Bone ShibaSwap (BONE) Bone ShibaSwap, the governance token for the ShibaSwap and one of the Shiba Inu ecosystem tokens, has skyrocketed over 8.23% in the last 24 hours. With a significant surge, it positioned itself among the top gainers list. BONE has shown strong bullish momentum following the announcement of Shibarium’s launch date. Bone ShibaSwap (BONE) Trading Price Chart (Source: CoinMarketCap) At the time of writing, the trading price of Bone ShibaSwap is $1.65, with an increase of over 8.23%. The daily trading volume of BONE has experienced a surge of 18.53%, according to CoinMarketCap. The surge is expected to continue as the Shibarium launch nears. Maker (MKR) Maker (MKR), the governance token of MakerDAO, has been consistently on the rise over the past few weeks. The price surge is being supported by investors who want to accumulate large amounts of cryptocurrencies. With its impressive performance, MKR joins the top gainers in the crypto market. Maker (MKR) Trading Price Surge (Source: CoinMarketCap) At the time of writing, the trading price of Maker (MKR) is $1,318, with an increase of over 15.09% in the last 24 hours. The daily trading volume of MKR has experienced a surge of 18.11%, according to CoinMarketCap.

Binance Coin (BNB) has recently exhibited a period of price consolidation, displaying a lateral movement within the range of $245 to $234 over the past two weeks. This intriguing price action has given rise to a bullish reversal pattern known as the inverted head and shoulders, hinting at potential future price movements. The inverted head and shoulders pattern is a popular technical analysis formation, often indicating a potential trend reversal. It consists of three main components: a low, followed by a lower low forming the “head,” and then another low resembling a “shoulder.” The crucial point of this pattern lies at the “neckline,” which is a horizontal resistance level connecting the highs of the head and the two shoulders. A breakout above this neckline is typically a bullish signal, indicating a potential price upswing. BNB’s Potential For Recovery And Growth The pattern signifies a shift from a downtrend to an uptrend, suggesting that selling pressure may be waning and buying interest could be building up. Currently priced at $244 according to CoinGecko, BNB has experienced a minute 0.4% increase in the past 24 hours, and a 3.8% increase over the last seven days. Analyzing the price action reveals the emergence of the aforementioned inverted head and shoulders pattern. If the buyers can successfully uphold this newly formed support level, it could pave the way for a potential 10% recovery, potentially propelling the price toward the upper trendline of the established channel pattern. Binance Expands Influence With Japan Launch In a significant move, Binance, the world’s largest cryptocurrency exchange, has launched its Japan subsidiary – Binance Japan K.K. The inauguration of this platform introduces BNB to the Japanese market for the first time, contributing to a slight weekly price uptick. This expansion into Japan signifies Binance’s commitment to broader global outreach and adoption of its native token, BNB. Binance Coin’s recent price action, characterized by a tight consolidation range, has unveiled an inverted head and shoulders pattern. This technical indication, if validated, could usher in a trend reversal and a potential price surge. Additionally, Binance’s strategic expansion into Japan through its subsidiary launch has introduced BNB to a new market, underlining its prominence and potential for further growth. As the cryptocurrency market evolves, these developments may play a pivotal role in shaping BNB’s trajectory in the coming weeks. (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 Securities.io

Bullish CAKE price prediction for 2023 is $1.968 to $2.576. PancakeSwap (CAKE) price might reach $5 soon. Bearish CAKE price prediction for 2023 is $0.960. In this PancakeSwap (CAKE) price prediction 2023, 2024-2030, we will analyze the price patterns of CAKE by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION PancakeSwap (CAKE) Current Market Status What is PancakeSwap (CAKE)? PancakeSwap (CAKE) 24H Technicals PANCAKESWAP (CAKE) PRICE PREDICTION 2023 PancakeSwap (CAKE) Support and Resistance Levels PancakeSwap (CAKE) Price Prediction 2023 — RVOL, MA & RSI PancakeSwap (CAKE) Price Prediction 2023 — ADX, RVI Comparison of CAKE with BTC, ETH PANCAKESWAP (CAKE)PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ PancakeSwap (CAKE) Current Market Status Current Price $1.54 24 – Hour Price Change 0.44% Down 24 – Hour Trading Volume $25,759,607 Market Cap $325,875,338 Circulating Supply 211,996,105 CAKE All – Time High $44.18 (On Apr 30, 2021) All – Time Low $0.0002318 (On Sep 29, 2020) LTC Current Market Status (Source: CoinMarketCap) PancakeSwap 24H Technicals (Source: TradingView) What is PancakeSwap (CAKE) TICKER CAKE BLOCKCHAIN PancakeSwap blockchain CATEGORY Public blockchain platform LAUNCHED ON September 2020 UTILITIES Governance, Fast Transactions, gas fees & rewards A decentralized finance (DeFi) protocol called PancakeSwap is an automated market maker (AMM) that enables users to trade tokens, leasing out liquidity in exchange for commissions. It was launched in 2020 and is a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. Users of PancakeSwap can trade against a liquidity pool using an automated market maker methodology. Users fill these pools by contributing money, in exchange for which they are given liquidity provider (LP) tokens. Token swaps, liquidity, provision and farming, staking perpetual trading, lottery, NFT marketplace, and launchpad are the various features that PancakeSwap offers to its users. It is one of the few DEXs that gives users access to a range of financial products in a single interface for a more well-rounded DeFi experience. Users of PancakeSwap can additionally farm the additional tokens – CAKE and SYRUP. Users can deposit LP tokens, looking them up in a process that rewards users with CAKE. Users can bet CAKE tokens to acquire SYRUP, which also serves as a governance token within the exchange. PancakeSwap (CAKE) Price Prediction 2023 PancakeSwap (CAKE) ranks 98th on CoinMarketCap in terms of its market capitalization. The overview of the PancakeSwap price prediction for 2023 is explained below with a daily time frame. CAKE/USDT Symmetric Triangle Pattern (Source: TradingView) In the above chart, PancakeSwap (CAKE) laid out a symmetric triangle pattern. The symmetric Triangle pattern is formed by two converging trendlines. In this pattern, the upper trendline of the triangle connects the highs. The lower trendline of the triangle connects the lows. At the time of analysis, the price of PancakeSwap (CAKE) was recorded at $1.54. If the pattern trend continues, then the price of CAKE might reach the resistance levels of $1.790 and $2.199. If the trend reverses, then the price of CAKE may fall to the support of $1.307. PancakeSwap (CAKE) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of PancakeSwap (CAKE) in 2023. CAKE/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as resistance and support levels of PancakeSwap (CAKE) for 2023. Resistance Level 1 $1.968 Resistance Level 2 $2.576 Support Level 1 $1.351 Support Level 2 $0.960 CAKE Resistance & Support Levels PancakeSwap (CAKE) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (CAKE) are shown in the chart below. CAKE /USDT RVOL, MA, RSI (Source: Tradingview) From the readings on the chart above, we can make the following inferences regarding the current PancakeSwap (CAKE) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $1.498Price = $1.558 (50MA<Price) Bullish/Uptrend Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 56.40 <30 = Oversold 50-70 = Neutral >70 = Overbought Neutral Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak volume PancakeSwap (CAKE) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of PancakeSwap (CAKE) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). CAKE /USDT ADX, RVI (Source: Tradingview) From the readings on the chart above, we can make the following inferences regarding the price momentum of PancakeSwap (CAKE). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 26.058 Strong Trend Relative Volatility Index (RVI) Volatility over a specific period 52.36 <50 = Low >50 = High High volatility Comparison of CAKE with BTC, ETH Let us now compare the price movements of PancakeSwap (CAKE) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs CAKE Price Comparison (Source: Tradingview) From the above chart, we can interpret that the price action of CAKE is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of CAKE also increases or decreases respectively. PancakeSwap (CAKE) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of PancakeSwap (CAKE) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price PancakeSwap (CAKE) Price Prediction 2024 $7 $4 PancakeSwap (CAKE) Price Prediction 2025 $9 $3 PancakeSwap (CAKE) Price Prediction 2026 $10 $2 PancakeSwap (CAKE) Price Prediction 2027 $12 $1 PancakeSwap (CAKE) Price Prediction 2028 $14 $0.8 PancakeSwap (CAKE) Price Prediction 2029 $16 $0.75 PancakeSwap (CAKE) Price Prediction 2030 $20 $0.5 Conclusion If PancakeSwap (CAKE) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish PancakeSwap (CAKE) price prediction for 2023 is $2.576. Comparatively, if unfavorable sentiment is triggered, the bearish PancakeSwap (CAKE) price prediction for 2023 is $0.960. If the market momentum and investors’ sentiment positively elevates, then PancakeSwap (CAKE) might hit $5. Furthermore, with future upgrades and advancements in the PancakeSwap ecosystem, CAKE might surpass its current all-time high (ATH) of $44.18. and mark its new ATH. FAQ 1. What is PancakeSwap (CAKE)? PancakeSwap(CAKE) is the native utility token of PancakeSwap. PancakeSwap is a decentralized exchange (DEX) native to the Binance Smart chain. 2. Where can you buy PancakeSwap (CAKE)? Traders can trade PancakeSwap (CAKE) on the following cryptocurrency exchanges such as Binance, Deepcoin, Bitrue, BingX, and Bybit. 3. Will PancakeSwap (CAKE) record a new ATH soon? With the ongoing developments and upgrades within the PancakeSwap platform, PancakeSwap (CAKE) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of PancakeSwap (CAKE)? PancakeSwap (CAKE) hit its current all-time high (ATH) of $44.18 on April 30, 2021. 5. What is the lowest price of PancakeSwap (CAKE)? According to CoinMarketCap, CAKE hit its all-time low (ATL) of $0.0002318 On September 29, 2020. 6. Will PancakeSwap (CAKE) hit $5? If PancakeSwap (CAKE) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon. 7. What will be the PancakeSwap (CAKE) price by 2024? PancakeSwap (CAKE) price might reach $7 by 2024. 8. What will be the PancakeSwap (CAKE) price by 2025? PancakeSwap (CAKE) price might reach $9 by 2025. 9. What will be the PancakeSwap (CAKE) price by 2026? PancakeSwap (CAKE) price might reach $10 by 2026. 10. What will be the PancakeSwap (CAKE) price by 2027? PancakeSwap (CAKE) price might reach $12 by 2027. Top Crypto Predictions Aptos (APT) Price Prediction 2023 Enjin Coin (ENJ) Price Prediction 2023 Chainlink (LINK) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

On-chain data shows that Litecoin traders are showing signs of capitulation as the asset’s much-anticipated halving event is only a few hours away now. Is Litecoin Halving A Buy The Rumor, Sell The News Event? The “halving” here refers to a periodic event where Litecoin’s block rewards (that is, rewards that miners receive for mining blocks) are permanently cut down in half. This event takes place approximately every four years and the next one, which would be the third, is scheduled to happen in around five hours if data from the mining platform NiceHash is to go by. This third halving event will reduce the cryptocurrency’s block rewards from 12.5 LTC to 6.25 LTC. Historically, these events have been important for the asset, as they mark points where the cryptocurrency’s production rate (which is nothing but the block rewards, as miners releasing these coins is the only way to mint new LTC) shrinks, and hence, the coin becomes more scarce. As these halving events are so significant, the market naturally speculates around them, leading to the coin experiencing volatility. In a new tweet, the on-chain analytics firm Santiment has revealed how the traders have been behaving in anticipation of today’s Litecoin halving. In the above graph, Santiment has attached the data of two metrics related to LTC: “social dominance” and the “ratio of on-chain transaction volume in profit to loss.” The former of these tells us what percentage of discussion on social media related to the 100 largest assets in the cryptocurrency sector is coming from Litecoin alone. From the chart, it’s visible that this indicator has observed a large spike today, showing that investors are participating in a large number of discussions related to today’s halving. The other indicator keeps track of the ratio between the profit-taking and loss-taking volumes on the network. As displayed in the graph, this metric has taken a plunge below the 1 mark recently. The ratio being less than 1 implies that loss-taking is the dominant force on the market at the moment. The loss volume is not only more than the profit volume right now, but it’s actually outweighing it at a ratio of more than 2:1. This extraordinary loss-taking may be coming from the investors who purchased coins ahead of the halving believing it to be a bullish event, but as Litecoin has only gone down lower recently, the holders have panicked and are selling at losses in an attempt to avoid going further underwater. The high social dominance of the asset may also likewise be because of FUD-related discussions blowing up. Based on these signs, it’s possible that Litecoin may be going through a classic “buy the rumor, sell the news” event. LTC Price At the time of writing, Litecoin is trading around $91, up 1% in the last week.

The Bitcoin price is up 2.57% in the last 24 hours as per data from CMC. MicroStrategy has revealed that the company holds 152,800 Bitcoins. Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has experienced a slight recovery after reaching a weekly low of $28,657 on August 1. The trading price of BTC has crossed the $29K mark and is showing significant bullish momentum. After several days of trading in consolidation, Bitcoin is back in action with a positive price surge. Yesterday, Bitcoin experienced a downtrend that resulted in a drop below the $29K mark. However, the price drop came to a halt after an announcement from MicroStrategy. The company plans to sell up to $750 million in stock to fund Bitcoin purchases. Following the announcement, the trading price of Bitcoin has shown an increase of over 2.57% in the last 24 hours. Furthermore, MicroStrategy has revealed that the company held 152,800 Bitcoins and added 12,333 in the second quarter of 2023. This is the largest single-quarter increase since the Q2 of 2021. Bitcoin (BTC) Price Analysis: 24-Hour Timeframe At the time of writing, the trading price of Bitcoin is $29,632, with an increase of 2.57% in the last 24 hours. The daily trading volume of BTC has experienced a surge of 53.65%, according to CoinMarketCap. The trading price is inching closer to the $30K level, and the community is expecting BTC to breach the $30 mark soon. Bitcoin Trading Price Chart (Source: TradingView) The daily trading price chart shows that the BTC is returning to bullish momentum as the current price is trading above the 50-day exponential moving average (50 EMA). Moreover, according to the RSI indicator, BTC is neutral and inching closer to the overbought zone. According to the data, if Bitcoin continues its bullish momentum, it will reach the nearest resistance of $30,000. If the trend continues, the price will break through $30,380 and even advance to surpass $31,000. On the other hand, another drop may begin if BTC fails to break the $30,000 resistance level. Moreover, it can go all the way below the support level at $28,410, and if the downtrend continues, BTC may trade below the $28K mark.

If you are looking to get the maximum benefit in the crypto market, experts recommend investing in Tradecurve (TCRV). Meanwhile, the ongoing market turmoil has crippled Binance (BNB) and Uniswap (UNI), making them unattractive among investors. Tradecurve has launched its much-anticipated presale, and its early investors are likely to have an adrenaline-pumped growth experience with enormous gains. Its presale is turning out to be a massive success, with the market value predicted to explode by 100x in 2023. >>Register For The Tradecurve Presale<< France Initiates Investigations Against Binance (BNB) The situation seems to be getting worse for Binance (BNB), which is already trapped in troubled waters. After the SEC filed a lawsuit against Binance for violating US laws, the market value of BNB has been in a free fall. Now, some media reports suggest that the French authorities have also initiated an investigation against Binance under anti-money laundering procedures. On the sidelines of these regulatory crackdowns, Binance has announced that it will exit the Netherlands as it has failed to get a license from the Dutch central bank. The Netherlands is the second country from where Binance is departing this year, with Canada being the first one. Hence, Binance investors are constantly in fear as the market of BNB is shrinking rapidly. Meanwhile, the price of Binance has fallen by more than 21% in the past month, and is currently hovering at $243.34. Uniswap (UNI) Launches Version 4 Recently, Uniswap (UNI) launched its Version 4, which provides developers with a range of new features. The price trajectory of Uniswap has positively responded to the update. Uniswap’s market value has increased by 11% in the last week, and is currently standing at $4.47. Under its Version 4, Uniswap has introduced the “hooks” feature, which is a smart contract allowing developers to expand upon existing liquidity pools. However, Uniswap Version 4 has faced criticism within the open-source community. Crypto developers have stated that Uniswap’s claim of being open-source is misleading. Uniswap Version 4 has used Business Source License 1.1 (BSL), which will prevent the public and developers from using the code for commercial or production purposes for up to four years. Tradecurve Records Unprecedented Market Popularity As two leading centralized exchanges, Binance and Coinbase, have faced a lawsuit that can hurt their survival. Crypto traders turned toward decentralized exchanges in a large number. A research report has suggested that the growth rate of decentralized exchanges in Q1 2023 was 33.4%. This surpassed the 16.9% growth rate of centralized exchanges. Tradecurve (TCRV) is a new blockchain-powered exchange helping users trade various assets with a single account. This platform requires no KYC check. Hence, users’ privacy is ensured. On the other hand, exchanges like Coinbase and Gemini ask for, and store the personal information of traders. The platform functions on the proof-of-work mechanism, and has negative balance protection too. The ongoing fifth stage of the TCRV presale is selling out fast, and the token is currently available for $0.025. Experts are certain that TCRV’s value will skyrocket 50 times during the presale. Also early buyers can receive a 100x profit in 2023. 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

The company issued a statement saying it had been communicating with the committee. The information from the probe would be used to better shape U.S. policy towards China. BlackRock, a firm that manages $9 trillion in assets, is under investigation by the US government for possible illegal Chinese investments. Legislators are concerned that Americans’ retirement savings are being used to prop up Chinese companies that the United States has blacklisted due to security and human rights concerns. According to the WSJ, BlackRock, and MSCI were informed on Monday about the investigations by the House of Representatives Select Committee. BlackRock is under investigation by the US government only two weeks after the SEC acknowledged BlackRock’s Spot Bitcoin ETF application. National Security Threat Moreover, it is hoped that the information gleaned from the probe would be used to better shape U.S. policy towards China, notably with respect to the movement of capital from the United States. U.S. corporations are “exacerbating an already significant national-security threat and undermining American values,” the letters argued because they are diverting “massive flows of American capital” to such Chinese enterprises. Both the panel’s Republican chairman, Wisconsin Representative Mike Gallagher, and the panel’s top Democrat, Illinois Representative Raja Krishnamoorthi, signed the letters. The panel also notes that BlackRock has invested over $429 million across five different investments in similar Chinese businesses. Moreover, the company issued a statement saying it had been communicating with the committee to address its concerns. The firm stated: Many investors utilize indexes compiled by MSCI to form the basis of their portfolios. Over $13 trillion in assets are measured against MSCI’s products. The company issued a statement saying it is investigating the committee’s concerns. Highlighted Crypto News Today: ApeCoin (APE) Hits Record Low Amid Market Struggles

Worldcoin has introduced an iris-scanning-based worldwide identification mechanism. According to CMC, the token’s price has increased by 4.57% n the last 24 hours. On Wednesday, the Kenyan Ministry of the Interior announced on its Facebook page that it had suspended activities of Worldcoin, while the country’s financial, security, and data protection services investigated the legality and data security of the project. The Ministry stated: Rising Criticism Over Data Collection To verify the authenticity of its users, Worldcoin has introduced an iris-scanning-based worldwide identification mechanism. According to the project, this is likely to be very important in a future where AI-powered bots take part in economic activity. However, the signup procedure and the gathering of biometric data in developing nations have been criticized and even accused of being exploitative. As reported earlier, Worldcoin is under investigation by many European agencies, including the Bavarian data protection body. Kenya is the first country to entirely halt the company’s operations pending the outcome of an investigation by local authorities. According to the ministry, this decision was made as a measure of preventative security. Until the appropriate authorities have evaluated the project and given their approval, it will remain on hold. Sam Altman, CEO of OpenAI, also co-founded Worldcoin, which has come under heavy criticism from privacy advocates. Since the introduction of the project last week, users who have had their irises scanned have been rewarded with WLD tokens. According to data from CMC, the token’s price has increased by 4.57%, to $2.41, in the last 24 hours. Highlighted Crypto News Today: Could MicroStrategy Be Behind Bitcoin’s (BTC) Recent Pump?

Curve DAO (CRV) has established itself as a prominent DeFi platform, renowned for providing ample liquidity, particularly for stablecoins. However, an unfortunate security breach occurred over the weekend, causing a significant decrease in both the total funds entrusted to Curve and the value of its native token, CRV, which serves as a means of transaction within the protocol. According to a report from Bloomberg, this decline in CRV’s price has put the substantial sum of over $100 million in loans at risk of being liquidated, posing a serious challenge for Curve Finance’s founder, Michael Egorov. As news of the potential liquidation of the Curve Founder’s assets spread, the sentiment among investors turned increasingly fearful, resulting in a notable impact on the CRV market’s price action in recent days. Many are now questioning whether there is any hope for a recovery. CRV Price Analysis: Mixed Trends Prompt Speculation On Sentiment According to CoinGecko, the price of CRV currently stands at $0.563, reflecting a decrease of -2.40% in the last 24 hours. Additionally, over the past seven days, CRV has experienced a significant decline of 22.1%. Despite the recent uptick, a bearish sentiment overshadows the CRV token’s prospects. Notably, a fundamental support level lies at the $0.5 mark, which underwent testing in November and December 2022. Furthermore, a potential positive price response might be witnessed at the $0.32 support level from October and November 2020. Unveiling Potential Shifts In Sentiment An intriguing observation comes from the CRV price report, highlighting a sudden spike in previously dormant Open Interest (OI) charts within the past 48 hours. This occurrence coincided with a period of losses for the Curve DAO token on the chart. A noteworthy development emerged during the recent rebound from $0.5 as the OI continued its ascent. This phenomenon raises the question: could this point to a direction toward bullish sentiment? As the CRV token navigates these mixed trends, market participants contemplate the interplay between short-term gains, historical support levels, and the evolving Open Interest dynamics. The complex mosaic of these factors will likely shape the sentiment and direction of CRV’s journey in the days to come. Egorov Responds To Contagion Concerns Amidst CRV Incident Meanwhile, Egorov talked to Bloomberg in the same report, shedding light on his strategic approach to mitigate the impact of the ongoing liquidation threat. He shared his focus on diminishing the sizes of his loans as a precautionary measure. Speaking about the potential contagion effects of the situation, Egorov conveyed his perspective in an email to the publication: (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 Bankless Times

MakerDAO (MKR) has navigated a tumultuous path in the Decentralized Finance (DeFi) market since June, marked by regulatory pressures and various challenges numerous projects face. Nonetheless, a shift in focus has occurred as altcoins, spearheaded by MKR, appear to overshadow this turbulence. Presently, the value of MKR on CoinGecko stands at $1,346, showing a noteworthy 9.1% surge within the past 24 hours, accompanied by an impressive week-long ascent of 18.0%. From mid-June, MKR has achieved an increase exceeding 115%. This growth has effectively diminished the proportion of investors encountering losses by a significant margin of 26%. MKR Price Report Reveals Sustained Accumulation, Whale Activity MKR has emerged as a notable hotbed of investor interest, with a recent price report shedding light on intriguing market dynamics. The journey of MKR’s price has been marked by a distinct trend of accumulation (see chart below) that has been underway since March, underscoring the growing interest and confidence among investors. As the calendar flipped to June, the accumulation of MKR gained considerable traction. Notably, this month saw a strategic move by prominent investors, often called “whales,” who opted to divest a portion of their holdings. This strategic decision, seemingly aimed at capitalizing on profits, had the unintended consequence of temporarily affecting the supply. However, the cryptocurrency market is known for its intricate interplays, and MKR’s case was no exception. While whales reduced their holdings, more oversized wallet holders recognized an opportune moment and swiftly absorbed the newly available supply. This orchestrated shift in ownership demonstrated the agility and resilience of the MKR ecosystem. Resurging Interest In DeFi Tokens DeFi has recently witnessed a fascinating shift in dynamics, drawing attention from analysts and investors. Glassnode’s insightful observations highlight a distinct surge of interest in DeFi tokens sparked by lackluster performances within the ecosystem. The backdrop against which this resurgence unfolds is crucial to understanding its significance. The previous dip in DeFi token prices was undeniably attributed to a significant event – the release of a memo by the US Securities and Exchange Commission (SEC). This regulatory communication deemed approximately 68 tokens unregistered securities, casting a shadow of uncertainty over the DeFi landscape. Amidst the tumultuous landscape, the resurgence of interest is indeed noteworthy. Glassnode’s analytical lens zooms in on this intriguing development, offering valuable insights into the changing sentiment. The data analysis firm aptly captures the essence of this rebound: This assessment not only underscores the significance of the current uptick but also draws parallels to a prior period, hinting at the potential of a sustained trajectory. (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 The Coin Republic

The U.S SEC had earlier stated that it cannot approve a spot ETF. BlackRock’s participation, though, has given investors cause for hope. There are now six Ethereum Futures ETFs pending clearance from the U.S Securities and Exchange Commission. Several big participants are vying for dominance as they seek approval for an Ethereum futures ETF. These are from Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale. On August 1st, Bloomberg’s senior ETF analyst Eric Balchunas announced the applications. The Ether Strategy ETF was proposed by Volatility Shares in a filing with the SEC on July 28. To do this, rather than buying Ether outright, they would invest in Ether Futures contracts traded on the Chicago Mercantile Exchange (CME) that are settled in cash. Volatility Shares has applied for a new exchange-traded fund (ETF) after their previous ETF, the 2x Bitcoin Strategy ETF (BITX), became the first leveraged Bitcoin futures ETF in the United States. Ray of Hope for Investors Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, Proshares Short Ether Strategy ETF, and Grayscale Ethereum Futures ETF are all Ethereum futures ETF submissions that are in the race for dominating the league. Due to market manipulation and a lack of investor protection, the U.S SEC had earlier stated that it cannot approve a spot ETF. BlackRock’s participation, though, has given investors cause for hope that they may find a way out. ETH Price Chart/ Source: CoinMarketCap On the other hand, the price of Ethereum (ETH) is following Bitcoin’s lead and consolidating sideways as it maintains its dominance below the 50-day exponential moving average (EMA) at the $1,870 mark. The altcoin may be in for a decline if volatility increases owing to Bitcoin’s effect on ETH. However, it is up 1.18% in the last 24 hours and is now trading at $1857 as per data from CMC.

MicroStrategy plans to raise up to $750 million through a stock sale to buy more Bitcoin (BTC). The news pushes Bitcoin’s price close to the $30,000 mark. The total value of MicroStrategy’s Bitcoin holdings is $4.5 billion at current market prices. MicroStrategy, the software developer with a massive Bitcoin (BTC) stash, intends to raise up to $750 million by selling more stock. The company plans to utilize the fund to buy additional Bitcoin, further solidifying its position as one of the largest corporate holders of BTC in the United States. The announcement came through a filing with the U.S. Securities and Exchange Commission (SEC) late Tuesday. As a result, the price of Bitcoin soared over 4% from $28,785 to $29,987. At the time of writing, BTC traded at $29,648 with a 24-hour trading volume of $19.7 billion, marking a surge of 52%. Bitcoin (BTC) Price Chart (Source: CoinMarketCap) MicroStrategy Profits on Bitcoin (BTC) MicroStrategy CEO Michael Saylor has been at the forefront of the company’s involvement with Bitcoin, making billion-dollar purchases of BTC since the pandemic hit. However, MicroStrategy reported a significant turnaround in profitability posting a net income of $22.2 million, in their Q2 earnings results filing. This marks a substantial development from the prior-year period, which saw a net loss of $1.1 billion. The surge in profitability can be attributed in part to a smaller digital asset impairment loss of $24.1 million, compared to a massive $917.8 million loss in Q2 2022. Further, during the second quarter of 2023, MicroStrategy added 12,333 Bitcoin, marking the largest rally in a single quarter since Q2 2021. In addition to that, the company acquired another 467 BTC on July 30. However, Michael Saylor’s company witnessed a notable increase in Bitcoin holdings, with 152,800 BTC in its possession as of July 31, 2023. That brings the total value of its Bitcoin balance to $4.5 billion at current market prices. MicroStrategy’s steadfast commitment to Bitcoin investment has proven successful as the digital asset continues to gain prominence in the financial world. With the upcoming stock sale, the company aims to strengthen its position in the crypto market and capitalize on the potential future appreciation of Bitcoin’s price. Highlighted News Today Did FTX SBF Attempt to Intimidate a Key Witness?

ApeCoin is facing challenges just days after Yuga Labs held an invitation-only event. The token has fallen from its all-time high to its new low by a whopping 93%. With further assault on the company’s “blue chip” Bored Ape Yacht Club NFT collection, ApeCoin, which powers Yuga Labs’ vast Otherside metaverse game and other apps, hit a record low on Tuesday. According to CMC, the value of ApeCoin, dropped to $1.77 late Monday and early Tuesday. The token had recovered to $1.81 as of this writing, up 1.60% in the last 24 hours and 8.89% down in the last 7 days. Terrible Decline Following its spectacular growth in 2021 and 2022, Bored Apes Yacht Club NFTs established its 10,000 simian-centered valuables. In April 2022, as Yuga’s Otherside game readied to release NFT-based parcels of land that will allow players to customize their own locations in the online world, the minimum price of BAYC reached 152 ETH, or $429,000. But ever since the prices of BAYC NFTs have fallen terribly due to overall market decline. The floor price of the BAYC collection (the price of the cheapest NFT posted) just barely passed $52,000 worth of Ethereum in early July, marking a new all-time low. ApeCoin is facing challenges just days after Yuga Labs held an invitation-only event where forty NFT owners and diehard fans were given the chance to explore unreleased areas of the Otherside game. The initial price of one ApeCoin was $8.54 in March last year; by April 2022, it had risen to $26.70. However, ApeCoin has fallen from its all-time high to its new low by a whopping 93%, and it has fallen 73% from its yearly high of $6.67. Highlighted Crypto News Today: Could MicroStrategy Be Behind Bitcoin’s (BTC) Recent Pump?

Bitcoin (BTC) saw a significant resurgence over the past few hours after hitting the lowest price since June 21 at $28,641 yesterday. At press time, BTC has experienced a 3.7% hike from its low. In fact, BTC even brushed past the $30,000 mark, indicating a substantial shift in market sentiment. So, the question begs. Why Is Bitcoin Up Today? “The entire short build-up of the past couple days just got wiped,” tweeted analyst Byzantine General. Data from Coinglass backs this claim and shows that BTC short positions amounting to $27.8 million were liquidated yesterday, followed by an additional $13.45 million today. This accounts for the most significant short liquidation since July 14, undeniably playing a significant role in the current price movement. But perhaps the most influential reason for the sudden shift in market sentiment was MicroStrategy’s recent announcement. The company stated that it will conduct stock sales worth $750 million. After the announcement, the Bitcoin community was abuzz with speculation that Michael Saylor might make additional, gigantic BTC purchases. “As with prior programs, we may use the proceeds for general corporate purposes, which include the purchase of Bitcoin as well as the repurchase or repayment of our outstanding debt,” said Andrew Kang, MicroStrategy’s CFO during a recent earnings call. While it remains unclear if the entire proceeds will be funneled into Bitcoin, the likelihood of a substantial chunk is certain. Directly after this announcement, Bitcoin surged by 1.6% within one hour. On-chain analysis firm Santiment tweeted: “Bitcoin has breached back above $30k once again, with assistance from the many traders who capitulated during the past week of price declines. Volume is rising to kick off August, & this psychological resistance cross may shift sentiment positive.” The chart shared by the firm shows that yesterday trading volume picked up steam again, rising to the highest level since six weeks. Also, the lowest amount of profit / loss taking in 7 months indicates a capitulation event. Analyst @52Skew added that the Bitcoin on the Binance spot market experienced a “real spot demand” which he wanted to see for a strong price reaction. “Note the limit bid wall that pushed up price; typical with PvP conditions to force limit chasing. Marked notable liquidity on the orderbook,” the analyst stated. What’s Next? However, he also cautioned that the 4-hour chart is so far looking like a classic Swing Failure Pattern (SFP) into a higher time-frame support / resistance. The Swing Failure Pattern, or SFP, is a type of reversal pattern where traders target stop-losses above a key swing low or below a key swing high to manipulate the price direction by generating enough liquidity. Nevertheless, the market appears to be brimming with anticipation. As per @DaanCrypto: “If price starts ranging here I’d look for another sweep of the lows and consolidation there. $28.5 & 29.5K are the areas of interest.” Meanwhile, a break above the resistance zone at the monthly and weekly open between $29,236 and $29,300 would validate a bullish scenario where the price targets $30,000. At press time, BTC wasn’t able to reclaim the red resistance zone and was trading at $29,606.