A year ago, El Salvador’s 10-year bond yields reached 24%. The nation was able to repay $800 million in short-term debt and interest in January. El Salvador was the first nation to recognize Bitcoin (BTC) as legal cash, and this year the country’s bonds have seen gains of 60%, second only to Bitcoin’s 80%. The unexpected interest in the country’s national debt indicates a dramatic change in outlook towards the economy. A year ago, El Salvador’s 10-year bond yields reached 24%, putting it on par with other struggling nations like Ukraine and Argentina. In spite of negative reports from the media and credit rating agencies, the nation was able to repay $800 million in short-term debt and interest in January. Investors Opt to Hold Morgan Stanley anticipated last year would be a good opportunity to acquire bonds from El Salvador because they expected the government to “muddle through” making interest payments. Bond prices in the country have recently become competitive with those of other developing market countries. According to Refinitiev’s findings, the current yield on the country’s bonds is between 14% and 18%. Some investors still think it’s not time to sell out despite the gains they’ve made this year. Bond prices in El Salvador followed the same pattern as Bitcoin last year, plummeting in the summer of 2022 before recovering in the first half of 2023. Bitcoin’s latest drop below the $30,000 threshold has likely disappointed short-term investors who pounced on the current Bull Run. Maybe it’s Bitcoin’s volatility that’s attracted long-term investors. However, there are now 14.5 million BTC owned by long-term holders, according to data compiled by Glassnode. At the time of writing Bitcoin is trading at $29,851 as per data from CMC. Highlighted Crypto News Today: XDC on Fire: With a Remarkable 50% Upswing in a Week!

The number of Bitcoins in circulation held by long-term holders has hit an ATH of 14.5M BTC. On April 26, 2024, the next halving cycle will take place. Bitcoin has fallen back below the $30,000 barrier, depressing short-term investors who bought in during the recent Bull Run. Perhaps Bitcoin’s volatility is what attracted investors looking to hold for the long haul. Glassnode reports that the number of Bitcoins in circulation held by long-term holders has hit an all-time high of 14.5 million BTC. Moreover, on April 26, 2024, the next halving cycle will take place. Even while the halving event will have a negative effect on mining profitability, rising Bitcoin prices will help compensate for this. The amount of money made from each block grows in proportion to the price of Bitcoin. This, in turn, leads to a rise in the miners’ willingness to spend money on mining gear and energy. As a result, a spike in the value of Bitcoin encourages miners to invest in additional mining hardware and expand their operations. Identical Historical Pattern Early in the Asian session, Bitcoin struggled to gain traction higher, as the price remained under pressure below the $30,000 mark despite recently peaking near the $30,060 level. Bitcoin’s price trend is identical to the one developed in 2012 before and after the first halving event, crypto enthusiast Mikybull Crypto tweeted today. As another fundamental driver that could lead to enormous price increases, he mentioned the introduction of Bitcoin ETFs. He noted the parallels between the current price chart and the one from 2012 in terms of highs and lows. If Bitcoin follows its historical pattern, its price might witness a significant surge before the next halving in April of 2024. As of right now, investors have a neutral outlook on the market, as measured by the Fear & Greed Index, which is now at 55 out of 100.

Bitcoin’s six-year range inside a rising channel has drawn the attention of a curious but optimistic analyst. Previewing the price chart shows that the coin has been in range over the years, capturing all of its volatility. Despite occasional dumps and pumps, the structure is yet to be broken. By the time the screenshot was shared on July 21, Bitcoin was trading in the lower part of the rising channel, skirting the support trend line, an indicator that prices have been generally lower in recent months. The rejection of lower lows and bounce from the support trend line, the analyst says, is bullish and squarely puts back bulls in contention. Bitcoin To $175,000? According to the trader’s assessment, a breakout above the upper resistance level at around $32,000 could potentially trigger a new bull run that may see the world’s most valuable cryptocurrency retest highs of the rising channel at $175,000, a level that upbeat HODLers can mark as a feasible target. Still, considering the volatility in crypto, this bullish forecast cannot be dismissed. To illustrate, the last bull run drove Bitcoin prices from sub-$10,000 to peaks of $69,000 in less than two years. Therefore, if Bitcoin bulls push above $32,000, a price level that the analyst claim is important, it could be a bullish signal that may be the beginning of another leg up in the resumption of the bullish formation set in motion between 2020 and 2021. Bitcoin is trading below the $30,000 level at spot rates with resistance at $31,800. Despite the general optimism across the board, bulls are yet to breach July 2023 highs as prices consolidate. Halving And ETF Approval As Tailwinds? Specific triggers for the next run are unknown for now. Even so, considering past cycles, the upcoming Bitcoin halving event may provide the impetus for a leg up toward 2021 highs at $69,000. Besides, traders are closely monitoring how the spot Bitcoin exchange-traded fund (ETF) applications in the United States progresses. The US Securities and Exchange Commission (SEC) has rejected several spot Bitcoin ETF applications in the past. However, the involvement of BlackRock has been received positively, lifting prices in the past few weeks. BlackRock is the world’s largest asset manager, managing trillions. The approval of a Bitcoin ETF would ease institutional investors’ involvement in the sphere, potentially driving demand and lifting prices. Most importantly, a Bitcoin ETF legitimizes Bitcoin as an investment asset. Bitcoin is the most dominant crypto asset, and complex derivatives instruments, including exchange-traded products (ETPs), have been approved and listed in various markets across Canada, Europe, and Brazil.

Nearly 71% of voters approved the initiative, while 2% disapproved and 27% stayed neutral. The community-owned wallet will be developed at no cost by the Joint L1 Task Force. The Terra Luna Classic (LUNC) community will administer a wallet that is owned by the community and operated by the Joint L1 Task Force (L1TF). The Terra Luna Classic community has approved LUNC validator Happy Catty Crypto’s updated proposal to avoid privatization and emphasize creating wallet infrastructure. As Proposal 11645 “L1 Team To Build Wallet Infrastructure” filed by Happy Catty Crypto gained enough votes to succeed, it is now deemed to have been successfully approved. Nearly 71% of voters approved the initiative, while 2% disapproved and 27% stayed neutral. No Development Cost The proposal has been supported by 20 validators so far. Based on the L1TF concept, the development team proposes to create a community-owned web version of Station for Terra Luna Classic. As well as iOS and Android applications and a Chrome extension. The community-owned wallet will be developed at no cost by the Joint L1 Task Force. The Joint L1 Task Force may utilize the computing budget for things like domain registration and web hosting. The plan for endpoint infrastructure will be prepared separately. It suggests that Professor Edward Kim, a respected member of the community, takes charge of the domain and other infrastructure controls. However, the community places a premium on the wallet’s infrastructure development. And the creation of an L2 team to oversee the wallet’s operations in its entirety. With a majority vote in favor, the Terra community has earlier approved the on-chain request to upgrade to Phoenix v2.4. According to CMC, the price of LUNC is $0.00008891 and is up 0.25% in the last 24 hours. Highlighted Crypto News Today: XDC on Fire: With a Remarkable 50% Upswing in a Week!

XDC spiked at an increase of 20.09% over the past 24H. The futuristic stats reports the chance of XDC reaching $0.1 anytime. The XDC Community is getting stronger with a trading volume of 38.91% worth about $17M. Currently, the spike of XDC Network (XDC) is about 20.09%. The current market price range at $0.04941 as per CoinMarketCap. XDC Network 24H Price Chart (Source: CoinMarketCap) The sudden surge is depicted to happen due to the announcement of a partnership with SBIVC. In order to increase the presence of XDC in the Japanese market, the partnership is established over a ‘Gold Sponsor of WebX Asia’ event. This is yet to happen on July 25 and 26, 2023 in Tokyo, Japan. This resembles a bullish momentum with effective market trading. However, the XDC community puts forth the upcoming chance of WebX exploration with the crypto giants of the industry. Considerably, the market hits an impactful market cap of around $694,699,959 with a drastic surge of 18.07%. Future Prediction of XDC According to crypto enthusiasts, XDC might hit a maximum of $0.05850. There is a possibility that it turns to $0.1 anytime sooner or later. As per the current market, the XDC Network resonates with the resistance levels and the support levels through the analysis. Also, the current circulating supply is around 14B tokens whereas the total supply records nearly 38B tokens. Moreover, comparing the last 7 days’ price surge, the crypto community reports that the XDC network has soared above 50% over the top listed coins in the crypto market. Related Crypto News: XDC Network (XDC) Price Prediction

In the past week, Maker (MKR) token has captured significant attention in the crypto market, surging an impressive 26%. This remarkable price action coincides with the introduction of a groundbreaking token buyback program by the leading decentralized finance (DeFi) lending platform, MakerDAO. As the DeFi ecosystem continues to expand, Maker (MKR) stands out as one of the largest and oldest DeFi lending protocols, gaining popularity for its issuance of the widely used DAI stablecoin with a market value of $4.6 billion. MKR Token Buyback Program Triggers Surge The recent surge in Maker (MKR), the governance token of the $5.3 billion decentralized finance (DeFi) lender MakerDAO, can be attributed to the implementation of a token buyback program. The token buyback scheme, named the Smart Burn Engine, is designed to remove MKR tokens from the market. The mechanism involves allocating excess DAI stablecoins from Maker’s surplus buffer to purchase MKR tokens from a UniSwap pool. The governance proposal behind this initiative aims to strengthen the token’s value and governance while actively engaging MKR holders in voting on crucial proposals. Related Reading: Dogecoin Becomes 8th-Largest Cryptocurrency After Adding $1 Billion To Market Cap According to blockchain data, the lending platform is poised to remove approximately $7 million worth of MKR governance tokens from the market over the next month through this buyback initiative. With the token’s total market capitalization standing at around $1 billion, the buyback represents a 0.7% reduction in the token’s supply per month, potentially enhancing MKR’s scarcity and value proposition. This strategic move is likely to attract further interest and investment from the crypto community. The token buyback program has already shown promising results, with MakerDAO purchasing approximately $230,000 worth of MKR tokens within the last 24 hours. This early success indicates positive momentum and investor interest in the buyback initiative. Maker: Significant Developments In 2023 In addition to the token buyback program, MakerDAO has been proactively diversifying its revenue streams by investing its DAI reserve assets into traditional financial products, such as bank loans and government bonds. This strategic decision has proven to be fruitful, as it enables the platform to generate sustainable revenue from yields, providing a solid basis for potential growth and long-term value. Unlike meme coins lacking tangible business prospects, Maker’s diversified revenue streams instill confidence in investors and the broader DeFi community, making it an attractive investment option. Related Reading: Bitfinex Hackers Surrender: Couple Agrees to Forfeit 120,000 Bitcoin in Plea Deal Beyond the token buyback and DAI reserve investments, MakerDAO is also undergoing a significant overhaul that includes upgrades for both the DAI and MKR tokens. Furthermore, the platform is transitioning into smaller autonomous organizations known as SubDAOs, which have the potential to issue their own tokens. These developments signal a dynamic future for MakerDAO and highlight the platform’s commitment to continuous innovation and progress. Over the past 24 hours, there has been a 9.98% decrease in the price. However, in the last hour alone, the price has shown a modest increase of 0.28%. As of now, the current price of MKR stands at $1,094.53. It’s important to note that Maker is currently 82.73% below its all-time high, which was recorded at $6,339.02. (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 istock, chart from TradingView.

Polygon has recently witnessed a remarkable surge in its non-fungible tokens (NFTs) sales volume and the influx of sellers participating in this burgeoning market. This growth in the NFT sector has sparked considerable interest and speculation among investors, prompting many to ponder the potential impact it may have on the price of MATIC, the native cryptocurrency of the Polygon network. However, despite the impressive surge in NFT sales volume and seller participation, a closer examination reveals that not everything works in Polygon’s favor. While the NFT market on the platform may be flourishing, other factors could impact the overall sentiment and performance of MATIC. MATIC Price Movement In Response To Metric Movement The recent MATIC price report indicates a remarkable surge in Polygon NFT sellers, recording a staggering increase of over 480% within the last 30 days. Meanwhile, MATIC’s current price stands at $0.772874 according to Coingecko, experiencing a 1.6% rally in the last 24 hours but also facing a 4.3% decline. Several factors could explain this lackluster price performance. For one, market sentiment plays a crucial role in shaping cryptocurrency prices, and during this period, overall opinion towards cryptocurrencies, including MATIC, might not have been favorable. Regulatory uncertainties, macroeconomic events, and broader market trends could have overshadowed the positive impact of the NFT growth on Polygon. However, price movements in the cryptocurrency market may only sometimes reflect immediate developments. There could be a time lag between the surge in NFT volume and its direct impact on MATIC’s price. Market reactions can be delayed, and sustained growth in NFT activity may be required to affect the token’s value significantly. Rising Competition Poses Challenge For Polygon A recent report also highlights the increasing competition that Polygon, a Layer-2 scaling solution for Ethereum, is facing within its market niche. Polygon has been known for its ability to enhance Ethereum’s performance, making it faster, cheaper, and more efficient. However, the emergence of numerous other cryptocurrencies offering similar services, including Optimism, poses a significant challenge to Polygon’s once-dominant position in the sector. In the past, Polygon enjoyed a clear lead in the Layer-2 scaling niche, capturing investor attention and interest. However, the current market dynamics indicate that this advantage has diminished. Despite its impressive features, the price of Polygon has exhibited minimal movement throughout the year, indicating subdued investor sentiment and potentially reduced demand. On the other hand, Optimism, a direct competitor to Polygon, has experienced remarkable growth over the year, with its yearly growth soaring by over 80%. (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 Coin Chapter

Shiba Inu (SHIB) has emerged as a force to be reckoned with in the digital asset landscape despite the lack of significant bullish momentum in the past few weeks. However, recent events have catapulted this canine-inspired cryptocurrency into the spotlight, as an astonishing 3 trillion SHIB tokens were accumulated by investors. Cryptocurrencies are renowned for their inherent volatility, and Shiba Inu is no exception. The token’s meteoric popularity and the passionate community backing it have contributed to its roller-coaster journey on the market. But with the recent accumulation of such an astronomical number of SHIB tokens, questions arise about how this development will reverberate throughout the ecosystem and influence its market value. SHIB Token Accumulation And Price Stability A recent SHIB price report highlights a notable surge in SHIB token accumulation by investors, indicating heightened interest and confidence in the cryptocurrency. With approximately 3 trillion SHIB tokens, amounting to a significant value of over $23 million being bought from exchanges within a two-day period, it appears that investors are actively seeking to bolster their positions in the Shiba Inu ecosystem. Despite the substantial increase in token accumulation, the Shiba Inu price has not witnessed any significant change, leaving investors somewhat disconcerted. A lack of price movement often results in a scenario where investors adopt a “wait-and-see” approach, keeping their holdings static rather than engaging in active trades. This phenomenon, commonly known as “sitting ducks,” can hinder the overall liquidity and dynamism of the SHIB market. Based on the latest data from crypto market tracker Coingecko, the current price of SHIB stands at $0.00000785. Over the past 24 hours, the token has experienced a modest 1.2% rally, which indicates some level of short-term market activity. However, over the last seven days, SHIB has faced a decline of 5.8%, hinting at potential challenges in sustaining positive price momentum. Shibarium’s Potential Meanwhile, Shiba Inu is gearing up to introduce an innovative layer-2 solution known as Shibarium, aiming to revolutionize the process of purchasing SHIB tokens by enhancing cost-effectiveness, efficiency, and speed. This highly anticipated L2 network has garnered immense excitement within the Shiba Inu community, with investors hailing it as the potential catalyst for propelling SHIB’s price to unprecedented heights, even setting the ambitious target of reaching $0.01. The impending launch of Shibarium has ignited a surge of optimism among SHIB enthusiasts, as it promises to address the inherent limitations of the current token acquisition process. By leveraging the power of layer-2 technology, the network intends to streamline transactions and reduce fees, making the buying experience more accessible and seamless for users. (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 Currency Analytics

Over the past week, Ethereum (ETH) registered the highest inflows into centralized exchanges (CEX) in the past two months. These significant asset movements have suggested a potential price dip for ETH. CoinGecko data shows that the second-largest cryptocurrency has been experiencing a slight price decline, losing 2.5% of its value in the past week. As of this writing, the Ether token changes hand at $1,892.65, with a negligible 0.2% gain in the last 24 hours. Ethereum Registers $383 Million Worth Of ETH In CEX Inflows According to data from IntoTheBlock, Ethereum witnessed the largest inflows into centralized exchanges in the past two months. The data analytics platform found that at least $383 million worth of ETH was deposited into these exchanges. IntoTheBlock also revealed that a significant percentage of the CEX inflows came from a single address and in a single transaction. This deposit came from an old wallet that accumulated 61,216 ETH during the Ethereum Initial Coin Offering (ICO). This pre-mine wallet had been dormant for eight years, with its constituent ETH worth more than $116 million untouched. On Wednesday, July 19, this address became activated, and its stash of Ether tokens was abruptly moved to another address associated with the Kraken exchange. Data from Whale Alert shows that a significant amount of Ether tokens has been transferred to crypto exchanges by several whales over the past week. Notably, more than 200,000 Ether tokens have been transferred to Coinbase in separate transactions within this period. Indeed, the movement of massive amounts of ETH to centralized exchanges can signal impending selling pressure, which can drive the asset’s price down. However, not all large transfers to an exchange precipitate a downward price movement, as the whales might not intend to sell immediately or all at once. Total ETH Staked Reaches All-Time High The Ethereum network has been experiencing a steady increase in the total amount of ETH staked on the blockchain. According to data from IntoTheBlock, this figure has reached $52.3 billion, representing its highest value ever. The data analytics company also noted that with an increasing amount of staked ETH, the Ethereum blockchain is bound to become even more secure, as there will be a corresponding decrease in the risk of the network being taken over by a single entity. It is worth noting that this surge in staking activity can be linked to the successful launch of the Shapella upgrade. The Shapella upgrade offered a new dimension to ETH staking, as investors can now lock and unlock their assets at will. This increased flexibility eliminated a substantial portion of risk that has been attributed to ETH staking in the past.

This motion was filed on Thursday in the US Bankruptcy Court. More than $70B in claims for fraud and other actions against Celsius are outstanding. Insolvent Celsius Network LLC has struck a deal that will simplify its legal proceedings. The company has reportedly offered an extra 5% on its claims if a large number of its account holders agree to take part in a legal settlement over allegations of managerial wrongdoing. Celsius Network’s arrangements may make it simpler for the crypto lender to liquidate and repay consumers’ assets. With a bonus added to the assets account holders would get under the Chapter 11 plan, Celsius and its unsecured creditors’ committee said they had reached an agreement to settle the committee’s class action fraud claim against Celsius. They said the savings would be “astronomical” and the time it took to get clients their crypto back would be cut significantly. Streamlining Repayment Process Moreover, in a move to approve the deal, the cryptocurrency lender said that the suggested arrangement with the committee of unsecured creditors “avoids the delay and costs of potentially protracted litigation.” This motion was filed on Thursday in the US Bankruptcy Court of the Southern District of New York. More than $70B in claims for fraud and other legal actions against Celsius are currently outstanding. This is according to the settlement motion presented by Celsius and the committee on Thursday. It was emphasized in the statement that account holders are not obligated to accept the settlement. And might continue to file proofs of claim against the debtors if they so want. Since “Custody” account holders already have an existing agreement with Celsius from March, they are excluded from the settlement. Highlighted Crypto News Today: Indonesia to Launch National Crypto Exchange by July End

The firm said in a statement that the decision was made by its shareholders. All Bundle customers are urged to remove their funds no later than September 12, 2023. Bundle, a social payments app popular in Nigeria, has announced it would be discontinuing its cryptocurrency exchange service. As part of the shareholders’ decision to reorganize the firm to concentrate on Cashlink, Bundle announced on its blog on July 20 that it will halt operations of its exchange services. The firm said in a statement that the decision was made by its shareholders because of the increasing importance of providing payment solutions suitable for the Web3 and blockchain ecosystem. Users Urged to Withdraw Funds It confirmed that customers without Nigerian naira or other currencies on Bundle will be unable to register for an account, put assets into their Bundle wallet, exchange assets in their Bundle wallet (except for USDT), or withdraw using Cashlink. All Bundle customers are urged to remove their funds from the app no later than September 12, 2023, as per the accompanying message. In order to withdraw funds effectively, however, the corporation outlined specific procedures for its consumers in Nigeria, Ghana, Kenya, and other francophone nations. Users in these countries may transfer their Bundle cash to their choice of cryptocurrency exchange. Cashlink and P2P express are two methods that Nigerians may utilize to get their hands on naira or transfer money to their bank accounts. If their account balance is less than $10, they may cash out using the link given to them. In October 2021, Nigeria introduced eNaira, the first Central Bank Digital Currency (CBDC) in Africa and the second in the world. Since then, several other nations have announced plans to introduce their own CBDCs. Highlighted Crypto News Today: British Court Accepts Craig Wright’s Appeal in Bitcoin Copyright Lawsuit

Craig Wright has claimed to be Bitcoin’s creator since 2016. The trial is scheduled to commence at the beginning of 2024. On July 20, a British court accepted an appeal and allowed Craig Wright the ability to present evidence in court to support his claim that the Bitcoin file format is sufficiently well-defined to be protected by copyright. Wright, who has claimed to be Bitcoin’s creator since 2016, filed a lawsuit against 13 Bitcoin Core developers and a group of firms including Coinbase for allegedly infringing on his copyright to the Bitcoin white paper, its file format, and the Bitcoin blockchain database. The judgment overturned a lower court’s February finding. That Wright had failed to provide adequate evidence of fixation (the initial recording of work) in the Bitcoin file format. Trial to Commence in 2024 Moreover, the Bitcoin Legal Defense Fund (BLDF), which acts as the developers’ legal representation, contends that Wright has failed to provide sufficient evidence that he is the enigmatic figurehead behind the Bitcoin white paper and database. BLDF stated: The trial is scheduled to commence at the beginning of 2024. Users have the freedom to incorporate Bitcoin’s source code into their own projects, even if those projects are proprietary. Since the Bitcoin code is open-sourced and freely distributed under a license from the Massachusetts Institute of Technology. However, Wright has claimed that the Bitcoin Core developers are part of a “Bitcoin Partnership,” a single body with power over the Bitcoin network. The fact that British courts are even considering his claims, as BLDF sees it, is very worrisome. Highlighted Crypto News Today: Whale Bitcoin Address Activated After 11 Years as BTC Stays Below 30K!

The price of the XDC Network token, XDC, has increased for a total of five consecutive days and is currently trading at its highest level since April 2022. The token climbed more than 40% from its lowest point this month to its highest level. At the time of writing, XDC was priced at 0.049, up a solid 16.6% in the last 24 hours. But it was the token’s seven-day performance that was most impressive when it soared 50%, dominating the list of the weekend’s top 100 coin listing at crypto market tracker Coingecko. XDC Network has experienced an improvement of 97.17% so far this year. The price of the token is rising with a chance of trend reversal, recovering from the trendline to hit new peaks while bumping up against resistance at $0.04 and support at $0.03. It is anticipated that strong support will raise prices and establish new demand regions. The coin has gone over the 50-day and 25-day moving averages on the daily chart, which is positive. The market capitalization of XDC Network’s token is now $683,630,126 following recent price movement. Most importantly, since this price was the highest on June 1st, XDC is clinging to a key resistance level. The Relative Strength Index (RSI) has risen to an overbought state. Enterprises can use the XDC Network (XDC), as it is a blockchain that has both public and private components. It’s the XinFin Network’s fuel token, allowing for a wide range of blockchain applications. Enterprises wishing to create or extend their infrastructure in a blockchain ecosystem will find the network’s interoperable smart contracts and frictionless payments appealing. The 2017-founded XDC Network has seen price swings during the course of its existence. It experienced a period of fall after achieving its all-time high of $0.17 during the 2021 bull cycle, before reaching new lows in July 2022. It experienced an upsurge in 2023 and spiked to a high of $0.050 before becoming volatile with sporadic upward and negative swings. XDC is currently challenging the $0.049 level, and an increase of 10% would enable it to test its 2023 highs once more. Meanwhile, XDC network’s unexpected linear rise, despite its relative obscurity, happened at the same time as Bitcoin briefly fell below $30. The introduction of Chain IDE was a major factor in this rise. This year, XDC could reach a price of $0.05850 if it maintains its upward trend. However, if the market’s opinion changes, the price might fall below $0.02993. With continued improvements, XDC is poised to shatter its existing price of $0.049. As developers tirelessly work to enhance the network’s performance, security, and functionality, XDC could attract attention from investors and blockchain enthusiasts alike. (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 Ledgernomic

Tron (TRX) surpassed its key resistance level to hit its 18-month high. A surge of 241% in the daily trading volume indicates a boost in investors’ sentiment. TRON holds the second-highest TVL, following the top contender Ethereum. TRON (TRX), the native cryptocurrency of the Tron blockchain, has entered the top gainers list with a 24-hour gain of over 8%. TRX staged a rally to an 18-month high of $0.09439, marking its highest peak since January 2022. Astoundingly, as per TradingView, around 00:00 UTC, TRX experienced a 17% surge — from $0.08043 to $0.09439 — within a specific 4-hour time frame. This price rally is presumably tied to a suspicious $62 million stablecoin minting by TRON founder Justin Sun. Apart from this, another positive trigger could be the rising traction of TRON-based USDT in Latin America. Let’s analyze the price movement of this cryptocurrency and decode its further growth trajectory. TRON (TRX): 24H Price Analysis Over the past three weeks, TRON (TRX) has been in a bullish state. The daily price chart highlights the current price movement above the 50-day exponential moving average (50EMA). Meanwhile, the daily relative strength index (RSI) has surged above 70, moving into the overbought zone. TRX/USDT Daily Price Chart (Source: TradingView) Furthermore, the average directional index (ADX) of TRON (TRX) rose above 25 to denote a strong trend. However, at the time of writing, the price of TRX was at $0.08714 — 7.68% down from its intraday high. According to CoinMarketCap data, the altcoin stood with a market cap of $7,823,845,007 and a bullish 24-hour trading volume of $590,275,728. Also, TRON continues to stand tall as the second-largest TVL holder, with $5.75 billion, after Ethereum. TRON (TRX) Eyes a New Price Target TRX executed a positive breakout from its horizontal channel by flipping its key resistance level of $0.0857. On a positive note, if TRX sustains a commendable uptrend, it would gain its entry into the $0.1 level. If TRX fails to defend this rally, there are possibilities for the altcoin to retrace to its support levels: $0.0857 and $0.0717. Target Resistance $0.1036 Critical Support Levels $0.0847; $0.0717 Highlighted Crypto News Today Whale Bitcoin Address Activated After 11 Years as BTC Stays Below 30K!

Do Kwon, co-founder of Terraform Labs, has used the XRP judgment as a precedent. The SEC has called the judgment a “wrongful decision,” suggesting a strong reaction. A potential setback for the XRP community may be on the horizon as the US SEC hinted on Friday that it intends to appeal the Summary Judgement in the Ripple vs. SEC dispute. The federal regulatory body has said that it intends to review the judgement since it was a “wrongful decision.” Intriguingly, it suggested that the SEC staff was contemplating other avenues for reviewing the judgement. Do Kwon, co-founder of Terraform Labs, is being sued over charges of fraud and has used the XRP judgement as precedent. Kwon argued that the government could not bring charges against him because of Judge Torres’s judgement that the sale of XRP is not a security. All Eyes on SEC Furthermore, the US SEC responded on Friday by filing a petition in the Terraform Labs case, arguing that the court shouldn’t take into account the Ripple judgement since the SEC plans to review it. The filing read: Moreover, the SEC has called the judgement a “wrongful decision,” suggesting a strong reaction to a request to review the verdict. Following Ripple’s partial victory over the SEC, the value of XRP, the company’s native cryptocurrency, has surged dramatically. As a consequence of this successful legal battle, XRP has been relisted on major cryptocurrency exchanges, leading to an increase in both demand and trading volume. Highlighted Crypto News Today: Whale Bitcoin Address Activated After 11 Years as BTC Stays Below 30K!

An inactive Bitcoin holder transacted 1,037 BTC to another address. Bitcoin has seen a drop from $30K. Earlier on Saturday, an inactive Bitcoin holder transferred a huge BTC after a decade. The transaction is recorded with 0.0000753 BTC worth 2.25 USD on Whale Alert, a crypto analyzer. Furthermore, the current whale transaction happened from the dormant address of the sender ‘1MchKSZg4E…hp9UAiNZ96’ to ‘bc1qtl80rm…ss8w8lfx0y’. During the transaction, 31,080,234 USD of 1,037 BTC is recorded. It is reported that the inactive whale has been activated after an account of 11.3 years. Current Status of Bitcoin The current analysis on CoinMarketCap shows the BTC price with a drop below $30K. Over a 92.55% circulating supply, Bitcoin’s trading volume has fallen by 31.78% in the last 24 hours. Yet, the market capitalization has reached more than $580M to date. Bitcoin (BTC) 24H Price Chart (Source: CoinMarketCap) As per the future price prediction, it was expected that Bitcoin would reach $36K within this year. Unfortunately, it has fallen back to $29,870.51 which is a 0.18% rise compared to the previous day. Crypto enthusiasts are keen on noticing that Bitcoin would create a jaw-dropping moment with a huge spike anytime sooner. Related Crypto News: Bitcoin (BTC) Price Prediction 2023

Dogecoin continues to cement itself as the largest meme coin by market cap, displaying signs of renewed enthusiasm every so often. This week, the meme-inspired cryptocurrency added over $1 billion to its market cap, making it the 8th-largest crypto. This was a result of Dogecoin’s surge of over 10%, boosting its market cap to more than $10 billion in a matter of hours. Dogecoin Pushes Solana To Number 9 Dogecoin has come a long way since its creation as a joke. Fueled by the hype on social media, the meme cryptocurrency has skyrocketed up the rankings to become the 8th-largest cryptocurrency by market cap. The price of Dogecoin recently crossed over the $0.070 resistance level to reach $0.076. As a result, more than $1 billion was added to its market cap, surging from $9.67 billion to $10.66 billion. Although its price has now dropped to $0.074 at the time of writing, Dogecoin still has a $10.35 billion market cap, pushing Solana down to the number 9 spot. On the other hand, Solana is down by 7% in a 7-day timeframe and has lost more than $1.4 billion in market cap. What’s Pushing The Price? A big part of Dogecoin’s past success has come mostly from social media hype and a few influential people and groups hyping it up. A major influence is billionaire Elon Musk. Ever since Musk began tweeting about the meme coin, Dogecoin has gained more attention from crypto investors and his tweets praising the crypto have led to major spikes in interest and price. The latest spike in the price of Dogecoin seems to have come from rumors of Tesla retaining the cryptocurrency in its payment page source code. Dogecoin is the second cryptocurrency to be accepted by the automobile manufacturer after Tesla added Bitcoin as an option back in 2021. However, Tesla has since discontinued the option to pay with Bitcoin and has deleted the option in the source code of its payment page. DOGE Price Prediction Dogecoin (DOGE) is currently trading at $0.07378, ranging between $0.065 and $0.075 for the past week. If the $0.075 resistance is broken through, we could see DOGE rise to as high as its February price of $0.096. Interestingly, the asset has bounced off the $0.060 support level multiple times since August 2022, making it a significant support for the meme coin. So a break below $0.060 could see DOGE fall to its lowest point in over a year. While Dogecoin lacks the scarcity of Bitcoin or the smart contract capabilities of Ethereum, it’s won over an enthusiastic community of supporters and has become relatively stable over the years. However, Dogecoin is still a very volatile investment, and its value is largely based on social media hype rather than real-world utility.

South Park’s Kenny McCormick may be perpetually doomed, but his latest venture in the world of cryptocurrency is anything but. Burn Kenny, the new hilariously irreverent meme coin has raised over $400,000 in market cap on its presale, leaving fans excited for what’s to come. Inspired by the beloved South Park character, Burn Kenny is a super deflationary token that’s designed to do one thing – get burnt. How Burn Kenny’s Meme Coin Token Burning Could Benefit Investors Burn Kenny’s token burning process is designed to gradually decrease the total supply of the token, creating scarcity and potentially increasing the value of the remaining tokens. The process works by gradually burning a portion of the total token supply over a set period until a predetermined percentage of the tokens have been destroyed. In Burn Kenny’s case, 30% of the total token supply will be burnt over three days, starting 24 hours after the token’s initial listing. This will be done by sending a portion of the tokens straight to the “fiery depths of token hell,” effectively removing them from circulation. The burning process will continue at a rate of 10% every 24 hours until the 30% burn target is reached. The value of the remaining tokens could potentially increase as a result of the token-burning process, as there will be fewer tokens in circulation. This creates a situation of increased demand for the remaining tokens, which could drive up their price. With a total token supply of 6,666,666,666, an arbitrary number Burn Kenny’s tokenomics are as unique as the character himself. The presale accounts for 40% of the total token supply, while another 30% will be thrown into the Uniswap liquidity pool, locked for three months. The remaining 30% will be sent straight to the fiery depths of token hell, gradually burnt over three days, starting 24 hours after listing. By the end of Q3 2023, the team behind Burn Kenny aims to have fulfilled all their roadmap goals. In recent updates, they have announced that they have deployed the contract, paired and locked Liquidity Pool (LP), and updated DexTools with hot pairs ready for trading. These preparations are all essential steps in ensuring a smooth and successful launch for Burn Kenny. Deploying the contract and pairing and locking LP are key technical components of the launch process. The contract deployment involves setting up the smart contract that will govern the token and ensure its functionality. In addition to these technical preparations, the Burn Kenny team has also been working to build hype and generate excitement for the launch. They have noted that Ethereum is trending and that DexTools is ready for hot pairs, which could help to drive interest and increase demand for the token. Burn Kenny’s irreverent approach to cryptocurrency and its use of the South Park character Kenny McCormick as its mascot give it a distinct personality and make it stand out from other meme coins. Of course, like any meme coin, Burn Kenny’s success will ultimately depend on the strength of its community and the demand for its tokens. However, its unique concept and approach to the meme coin genre could potentially make it a standout project in the crowded world of cryptocurrency. Featured image from Burn Kenny on Twitter, chart from TradingView.com

An American couple accused of laundering billions of dollars worth of Bitcoin stolen from the 2016 hacking of virtual currency exchange Bitfinex has entered into a plea agreement, according to court records reported by Reuters. Heather Morgan, who used the hip-hop alias “Razzlekhan” to push her music online, and her husband Ilya Lichtenstein were arrested earlier this year and are set to appear for a plea hearing on August 3 before Senior Judge Colleen Kollar-Kotelly in Washington. Laundered Bitcoin Exceeds $4.5 Billion Ilya Lichtenstein and Heather Morgan, both residents of New York, are facing charges for allegedly conspiring to launder the proceeds of 119,754 Bitcoin (BTC) that were stolen from Bitfinex in 2016. After the hacker breached the platform’s systems and initiated over 2,000 unauthorized transactions, the stolen Bitcoin was transferred to a digital wallet controlled by Lichtenstein. Over five years, approximately 25,000 of those stolen Bitcoin were moved out of Lichtenstein’s wallet via a complex money-laundering process, which ultimately resulted in some of the stolen funds being deposited into financial accounts controlled by the couple. More than 94,000 Bitcoin, the remainder of the stolen funds, were left in the wallet used to receive and store the illegal proceeds from the hack. However, after executing court-authorized search warrants for online accounts controlled by Lichtenstein and Morgan, special agents accessed files in an online account controlled by Lichtenstein. These files contained the private keys required to access the digital wallet that directly received the funds stolen from Bitfinex, enabling law enforcement to lawfully seize and recover over 94,000 Bitcoin, valued at over $3.6 billion at the time of seizure. According to the criminal complaint, Lichtenstein and Morgan used various sophisticated laundering techniques, including setting up online accounts using fictitious identities, automating transactions using computer programs, depositing the stolen funds into accounts at virtual currency exchanges and darknet markets, converting Bitcoin to other forms of virtual currency, and using U.S.-based business accounts to legitimize their banking activity. While Bitcoin was worth $71 million at the time of the hack, it had appreciated to over $4.5 billion at the time of their arrest earlier this year. Prosecutors are now seeking to have the pair forfeit assets worth around $3 billion, including cash from bank accounts and tokens from crypto wallets. Additionally, prosecutors are seeking to have the couple forfeit gold coins that were “excavated and recovered by law enforcement” from an undisclosed location in California. At present, Bitcoin remains the largest cryptocurrency in the market, based on trading volume and capitalization. It is currently trading at $29,860, which is relatively stable compared to the previous 24 hours, with a slight increase of 0.5%. Featured image from Unsplash, chart from TradingView.com

The official Shiba Inu Twitter account announced the news to the crypto community at large. The price of Shibarium’s governance token, Bone ShibaSwap (BONE), has increased by 2%. Ahead of the highly-anticipated August release of the Layer-2 blockchain Shibarium, the Shiba Inu ecosystem’s governance token Bone ShibaSwap (BONE) has secured a listing on a prominent crypto exchange. The official Shiba Inu Twitter account announced the news to the crypto community at large. Earlier today, the BONE gas token from Shibarium was listed on Changelly, which facilitates cross-chain swaps. The popular gas token is actively pursuing listings on other major exchanges as well. All Eyes on Upcoming Launch Furthermore, the Shiba Inu team is hard at work preparing for the official hackathons ETHToronto and ETHWomen, as well as the Blockchain Futurist Conference, all of which will take place in Toronto, Canada, in August. The conference will include Shiba Inu as one of its sponsors, while Shytoshi Kusama will appear virtually and deliver a speech using AI. According to Shytoshi Kusama, the long-awaited Shibarium mainnet will also be discussed and, most likely, released during the event. He pointed out that the date represents both the origin of Ethereum and the third anniversary of Shiba Inu. Moreover, Shytoshi Kusama recently issued a warning to the SHIB army about potential cryptocurrency wallet fraudsters. Moreover, the price of Shibarium’s gas token, Bone ShibaSwap (BONE), has increased by 2% over the previous 24 hours and is now trading at $1.29, as per data from CMC. Data from IntoTheBlock shows that over the last 30 days, Shiba Inu billionaire addresses (those holding between 100 billion and 1 trillion SHIB) have collected trillions of SHIB. Investors and traders alike are stocking up on SHIB, ahead of the Shibarium mainnet launch. Highlighted Crypto News Today: Indonesia to Launch National Crypto Exchange by July End