Paxful, founded in 2015, has established itself as one of the world’s prominent peer-to-peer Bitcoin marketplaces, with a strong mission to enable financial access for individuals globally. Boasting an extensive user base of 9 million and offering over 350 payment options, the platform has garnered substantial popularity. However, on July 7, Ray Youssef, the former CEO of Paxful, conveyed a message to the platform’s users, urging them to cease trading activities. Financial Instability And Comparisons To FTX Collapse Youssef expressed concerns about the current state of Paxful, claiming that the company is now solely focused on paying legal bills and cautioned that no African or non-American should trust any IS corporation. These warnings from Youssef were prompted by reports that Paxful had removed the reserve funds amount from the platform’s status page. Related Reading: Paxful CEO Says He Has ‘Lost’ 5 Bank Accounts Reserve funds are often savings accounts or highly liquid assets placed aside to cover unforeseen financial responsibilities, and Youssef believes that Paxful’s lack of reserves puts the company at risk of financial instability. Without these funds, Paxful may struggle to manage cash flow fluctuations, fulfill immediate financial obligations, or respond effectively to emergencies. Consequently, this situation has the potential to jeopardize Paxful’s survival. Youssef also concurred with a Twitter user who compared Paxful and the collapse of FTX. The user highlighted that FTX, despite being one of the world’s largest cryptocurrency exchanges at the time, had filed for bankruptcy. This collapse was triggered by Changpeng Zhao, the CEO of Binance, announcing that his exchange would be dumping its FTT Token holdings, amounting to around $2 billion. The bank run that followed this announcement opened up a web of lies and mismanagement that led to the eventual collapse of the exchange. The announcement caused a sharp decline in the price of FTT and generated concern among investors. As a result, traders hurriedly withdrew their funds from FTX, leading the company to confront a substantial $8 billion shortfall. To prevent a similar case like FTX bankruptcy, Youssef advised Paxful users to withdraw their funds until further investigation is conducted to uncover the truth behind the situation. Related Reading: FTX Puts Sale Of $500 Million Stake In AI Firm Anthropic On Hold Youssef’s Concerns And Allegations Post-Departure From Paxful Trading on various P2P marketplaces, including Paxful, was temporarily suspended in early April due to regulatory reasons. When Paxful announced the resumption of services, Ray Youssef, who had already left the organization, expressed his uncertainty regarding the current state of affairs and emphasized his inability to vouch for anything happening within Paxful. Since he departed from the exchange, Youssef has been actively promoting Civkit, the platform he founded. While many of his followers have praised his efforts, accusations have labeled him an attention seeker. Additionally, some individuals have accused him of leveraging his influence to undermine competitors and rivals in the industry.

The Layer 2 crypto projects hold stronger communities and users. Shibarium gaining popularity with its effective crypto community. On the global crypto market, there are several Ethereum Layer 2 (L2) Crypto Projects kept in the process. Some of them include Polygon (MATIC), Shibarium (SHIB), and Arbitrum (ARB). Get dive in with the most popular Layer 2 projects among the communities in the crypto market Polygon Polygon (MATIC), one of the Ethereum Layer 2 scaling solutions that have kept building the developing networks for interface stability and adaptability. Thereby the crypto communities focussed on the assurance provided with security, and interoperability on the network. Shibarium Shibarium (SHIB), the forthcoming Layer 2 just like Polygon based on Ethereum, gained popularity before its launch. This project has an efficient background of success in the meantime in which the solutions are turning out extraordinary. Arbitrum Arbitrum (ARB), the most recently launched token doesn’t include its native token so the investment in Layer 2 depends on optimistic rollups. Meanwhile, Arbitrum focuses on the congestion resolution on Ethereum through 40K transactions per second (TPS) costing about two cents or less in fees. Comparison of Various L2 Projects The most popular Polygon which has low gas fees and throughput over the higher transactions, is for the developers and investors on the platform. The compatibility of ARB in which the uniqueness of learning the developers for the programming language. The Shibarium Layer 2 layer increases the expansion of the ecosystem though the launch hasn’t happened yet. Concurrently, the Shibarium official launch date hasn’t been released. Crypto enthusiasts have effective transaction speeds with an abrupt increase and decrease in the result of gas prices. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for. Related Crypto News: Graph Goes L2: Arbitrum Integration Supercharges Scalability

The Bitcoin ETF has the potential to be a turning point for traditional institutions. Jay Clayton stated that it is remarkable for the crypto market. Jay Clayton, former Chairman of the U.S. Securities and Exchange Commission, shared his thoughts on the major traditional financial institutions’ Bitcoin ETF requests. He stated that the spot Bitcoin ETF should be approved. Moreover, he mentioned the crypto market’s significant growth and benefits from the Bitcoin ETF. The crypto market continues to experience remarkable growth and has captured the attention of investors and traders. Traditional banks applied to the SEC to provide Bitcoin ETFs in response to the significant development of the crypto market. Blackrock, Fidelity, Invesco, and several other institutional players have filed spot Bitcoin Exchange Traded Funds (ETF). Jay Clayton’s Perspectives on Bitcoin ETF In a recent interview, Jay Clayton stated that it is remarkable for the crypto market that big institutions like Blackrock want to put their reputation behind Bitcoin. He also said that the BTC ETF approvals are hard to resist. Moreover, the BTC ETF has the potential to be the turning point for traditional institutions with its significant development. Traditional Financial Institutions Filed For Bitcoin ETF The traditional institutions have surprised the whole crypto market with the continuous filing of Bitcoin ETFs. Following Blackrock’s request, several firms have continuously shown interest in the BTC ETF. While the institutions are waiting to get approved by the SEC, the former SEC chair’s statement got the attention of the crypto community. He believes spot products are less drag and more efficient for investors, and these institutions know the market better than anybody else. Clayton also noted that the approvals would need the regularity safeguards that depend on the recent establishment by the SEC. And also, the SEC regulations are thorough. With continuous filing, traditional banks signaled their interest in crypto and the turnover of traditional financial institutions. However, approval depends on the SEC’s decision. Recently, the SEC rejected the BTC ETF filing, saying that the filings were not sufficiently clear and comprehensive. After the SEC comments, the institutions updated and refiled their filings. The firms and the whole crypto community are waiting to see who will be the first to launch the spot BTC ETF.

Standard Chartered, one of the world’s leading banks, has raised its long-term Bitcoin price forecast, predicting that the value of the flagship cryptocurrency could reach $120,000 by the end of 2024. This upward revision comes as the bank acknowledges the potential for miners to hold a larger share of the newly minted Bitcoin supply. With the recent surge in Bitcoin’s price, Standard Chartered sees an opportunity for miners to reduce their selling activities, which could have implications for the cryptocurrency’s scarcity and future value. Miners’ Role In Bitcoin Value Proposition Miners hold a significant position within the crypto ecosystem, as they are responsible for the creation and upkeep of the network. And Standard Chartered’s forecast of Bitcoin reaching $120,000 by the end of 2024 is rooted in the notion that miners may adapt their selling practices to cover operational expenses, particularly the costs of electricity required for mining activities. Related Reading: Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024 By reducing the portion of newly generated Bitcoins they sell, miners can balance their cash inflows while simultaneously decreasing the overall supply of Bitcoin available in the market. This adjustment in selling behavior has the potential to impact the supply-demand dynamics of Bitcoin and potentially contribute to a surge in its value. The rationale behind Standard Chartered’s prediction lies in the assumption that miners, who currently produce approximately 900 new BTC daily on a global scale, will opt to hold onto a larger portion of their newly minted coins. By doing so, they can cover their operational costs more efficiently. If this adjustment occurs and the proportion of BTC sold by miners decreases, it could lead to a reduction in the net supply of Bitcoin by roughly 250,000 BTC per year. Such a decrease in supply has the potential to exert upward pressure on the value of Bitcoin as demand potentially outpaces the available coins in circulation. Factors Driving Standard Chartered’s Optimism Standard Chartered’s revised forecast is underpinned by the expectation that increased profitability for miners per Bitcoin mined will encourage them to hold onto a larger portion of their newly minted supply. Geoff Kendrick, a top FX analyst at the bank, suggests that as Bitcoin’s price approaches the $50,000 threshold, miners may reduce the proportion of BTC they sell from 100% to approximately 20-30%. This reduction in daily supply, from 900 BTC to a range of 180-270, would equate to a significant reduction in net BTC supply of roughly 250,000 BTC per year. Furthermore, Kendrick points to an upcoming event that will halve the number of BTC that can be mined each day, which is an intrinsic feature of Bitcoin’s design. This mechanism, known as the “halving,” gradually limits the supply of new BTC to maintain scarcity and mitigate inflation. By combining the potential reduction in miner selling with the forthcoming halving, Standard Chartered anticipates an environment conducive to a sustained increase in Bitcoin’s price over the long term. Meanwhile, over the past day, Bitcoin has traded below the $31,000 level particularly, with a market price of $30,441, at the time of writing. Nevertheless, the asset is seeing 1% gains in the last 24 hours with a 24-hour trading volume of $10.6 billion. Featured image from Unsplash, Chart from TradingView

LAS VEGAS–(BUSINESS WIRE)–$AGREE #AGREE—Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, (“Ault Alliance” or the “Company”), announced today that it plans to explore a pathway that will allow it to issue a special dividend payable in Bitcoin to stockholders. The Company intends to collaborate with regulatory authorities, its transfer agent and others, which may include a trusted custodian, to determine what is required in order to pay a special dividend in Bitcoin. The planned dividend would be paid from Bitcoin generated by the Company’s wholly owned subsidiary, BitNile, Inc. (“BNI”). As previously announced, BNI issued an unaudited update on its Bitcoin mining operations reporting BNI’s mining operations is currently operating at an operational hash rate of 2.1 exahashes per second with approximately 9,000 of its Bitcoin miners at its Michigan data center and 10,000 Bitcoin miners that are being hosted through its strategic collaboration with Core Scientific, Inc. The annualized gross value of Bitcoin currently being mined utilizing BNI’s miners is more than $55 million, or approximately 1,800 Bitcoin, based on current market conditions, including a current trading price of Bitcoin at $30,400 and a mining difficulty of 50.65 trillion. Ault Alliance remains dedicated to its core mission of driving innovation and delivering exceptional value to its stockholders. With the increasing popularity and adoption of cryptocurrencies, Ault Alliance recognizes the potential of Bitcoin as a valuable asset for its stockholders. The idea of potentially issuing a Bitcoin dividend is aimed at providing a forward-thinking approach to stockholder value enhancement. By leveraging its Bitcoin mining operations, Ault Alliance seeks to provide an alternative investment opportunity and potential long-term value appreciation for its stockholders. Ault Alliance is also exploring ways to facilitate the effectuation of its conceptual design for stockholders who may not be familiar or comfortable with receiving a dividend in Bitcoin itself. Ault Alliance would, with the intention of addressing the preferences of all of its stockholders, accomplish this objective by offering its stockholders as of the ex-dividend date a choice of receiving actual Bitcoin or a cash payment equal to the dollar value of the Bitcoin as of such ex-dividend date. “By exploring a possible Bitcoin dividend, we aim to stay at the forefront of technological advancements and provide additional value to our stockholders,” said Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance. “We believe that cryptocurrencies, especially Bitcoin, hold tremendous potential for the future, and we want our stockholders to benefit from this exciting opportunity.” In order to ensure compliance with regulatory requirements and promote transparency, Ault Alliance will be working closely with relevant regulatory authorities throughout the process. The Company is committed to adhering to the highest standards of corporate governance and regulatory compliance in all its operations. At this time, the Company has not declared a dividend and there can be no assurances that it will declare a dividend payable in Bitcoin or a Bitcoin-denominated cash payment, if at all. The Company has not yet determined what procedures would be required to permit stockholders to receive a dividend in Bitcoin, and even if the Company is able to pay a special dividend in Bitcoin, there are no guarantees that all stockholders will be permitted by their local governmental bodies to receive the dividend in Bitcoin. Ault Alliance notes that all estimates and other projections are subject to the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations. For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/. About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.ault.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10‑Q and 8-K. All filings are available at https://www.sec.gov/ and on the Company’s website at https://www.ault.com/. Contacts [email protected] or 1-888-753-2235

Karim Hijazi is a serial entrepreneur, a former US intelligence community contractor and the former director of intelligence for Mandiant. He will oversee the firm’s expanded focus on emerging technology platforms and evolving risks. TAMPA, Fla.–(BUSINESS WIRE)–SCP&CO, a private investment and fund management firm focused on emerging technology platforms, today announced the appointment of cybersecurity industry veteran and renowned cyber intelligence expert Karim Hijazi to Managing Director and General Partner. Hijazi joins the firm after a long track record as a successful cybersecurity senior executive and entrepreneur, where he founded several groundbreaking startups in the field of cyber threat intelligence. As SCP&CO’s new Managing Director, he will support the firm’s expanded focus on emerging technologies and platforms, particularly focusing on the opportunities associated with the evolution from Web2 to Web3 and cybersecurity, with a strong emphasis on new authenticity technologies to counter the growing uncertainties, risks and disruptive potential posed by rapidly evolving capabilities such as artificial intelligence (AI). Hijazi will work closely with the firm’s Fund Managing Director, Chris Pizzo, in creating a new investment strategy centered around these technologies. “Karim is one of the world’s leading authorities on cyber risk and threat intelligence, and we’re thrilled to have him join our leadership team. He will play a key role in developing our investment strategy for the emerging field of authenticity technologies, which will be increasingly vital for businesses and consumers amid the massive changes now underway in AI, cybersecurity and Web3,” said Chris Rivera, president of SCP&CO. “Our executive team has over 100 years of combined experience in technology investing, since the initial dot-com era, and we are looking ahead to how these developing technologies will dramatically transform the world around us.” “It is an honor to join SCP&CO, which has been an active investor in the technology industry for over 20 years. While many investors have been overly bullish on the upside potential of the benevolent use of these new technologies, SCP&CO is well aware of the growing risks, particularly with the intersection of AI and cybersecurity, which could have many dangerous implications for businesses, governments and society at large,” said Hijazi. “Ensuring the integrity and ethics of these technologies, and developing effective countermeasures for their worst abuses, will be a daunting challenge for our society – and a major focus for the firm moving forward.” Hijazi is a 25-year veteran of the cyber intelligence and counterintelligence industries, and previously served as a contractor for the US intelligence community, cyber threat analyst to the global oil-and-gas industry, and as director of intelligence for Mandiant. He also founded multiple cybersecurity startups which pioneered new tactics in the cyber intelligence field, including early-stage breach detection, adversary infrastructure monitoring and botnet infiltration and seizure. During his tenure at Mandiant, Hijazi played a key role in the influential APT1 report released in 2013, which conclusively linked the People’s Liberation Army of China to widespread cyber espionage activity against US interests. He has also appeared many times on national TV as a cybersecurity analyst, including CNBC, Fox Business, Bloomberg, CNN, and more. A widely recognized expert on emerging cyber threats, Hijazi will be a keynote speaker at the prestigious MENA Information Security Conference in Riyadh, Saudi Arabia this September. He also recently spoke at the Cybershield Summit in Riyadh, where he lectured international business leaders on advanced threats posed by AI and ML. Over the last 20 years, SCP&CO has completed more than 100 transactions, totaling $2.2 billion of aggregate transaction volume. This includes over $255 million of principal and advisory transactions in the technology industry alone. ABOUT SCP&CO SCP&CO is a private investment and fund management firm focused on emerging technology platforms, innovation and value investments. The firm leverages direct investing and managed funds to invest in businesses where it can provide strategic and operational impact to accelerate profitable growth. Depending on the investment vehicle, the firm invests in control positions, growth capital or venture capital to help startups and existing businesses build growing, profitable and enduring businesses. Learn more at www.scpandco.com. Contacts Michael Sias Firm 19 [email protected]

The FCA issued a stern warning to the crypto ATM operators on February 14 earlier. U.K. anti-money-laundering laws require that all crypto ATMs be registered with the FCA. The Financial Conduct Authority (FCA), Britain’s financial watchdog, “disrupted” 26 of the 34 cryptocurrency ATMs it visited and investigated since the beginning of 2023. The Financial Conduct Authority (FCA) issued a stern warning to the United Kingdom’s crypto ATM operators on February 14: either comply with legislation or shut down illicit activities. In response to the alert, the FCA and other law enforcement authorities used their authority under anti-money laundering laws to conduct investigations at 36 cryptocurrency ATMs. Operating Illegally Steve Smart, joint executive director of enforcement and market monitoring at the FCA, has spoken out against the usage of cryptocurrency ATMs more generally. Smart stated: Smart said that anyone who falls prey to fraud at crypto or Bitcoin ATMs “will not be protected” by the government or the business that owns each machine. In May and June, when the FCA officially announced the launch of the inspection effort, 18 facilities were visited. U.K. anti-money-laundering laws require that all cryptocurrency exchanges and ATMs be registered with the Financial Conduct Authority (FCA). On July 8, the Clive Police Department published a report documenting a case in which a crypto scammer pretended to be law enforcement and took $6,000 from an unsuspecting victim by threatening an arrest warrant. Scammers use intimidation and false police identification to trick victims into sending money via cryptocurrency ATMs. It is vital to remember that law enforcement agencies never initiate contact with someone and demand payment by phone or via cryptocurrency. Highlighted Crypto News Today: Daily Bitcoin Ordinals Inscriptions Jumps Over 350,000

The Federal Reserve paused rate rises last month for the first time in almost a year. Inflation has been brought down from 9% in August 2022 to 4% in May. The U.S. June Consumer Price Index (CPI) will be released on Wednesday, and the PPI will be released the following day, bringing attention back to inflation statistics after a week of major employment announcements. In the event of a drop, investors may hope that the Federal Reserve would reconsider its plan to increase interest rates by 25 basis points (bps). The Federal Reserve paused rate rises last month for the first time in almost a year, signaling a return to monetary hawkishness. Investors to Keenly Observe Inflation has been brought down from 9% in August 2022 to 4% in May thanks to the Fed’s effort, but there are now fears that the Fed may have gone too far and sent the country into a deep recession. U.S. monetary policy watchers will be looking at the June Consumer Price Index report from the Labor Department on Wednesday. The CPI has crept slowly lower from last year’s peak. The majority of economists expect the index to drop by around 3% in June, while experts, said on Monday that the index might fall by as much as 2.8%. The PPI, which tracks changes in wholesale prices, is a good indicator of what customers might expect to see at the checkout counter. May’s PPI of 1.1% annual growth was much lower than April’s 2.3% increase and far below market estimates of a 1.5% drop. In June, economists expect an outcome of 0.4%. Crypto investors will be keenly observing the statistics as it is highly likely to affect the volatility of all cryptocurrencies. Highlighted Crypto News Today: Arkham Token Sale on Binance Spurs This Massive BNB Whale Activity

Glassnode reported that the number of new inscriptions jumped to over 350k on Monday. As of January, Ordinals were live on the Bitcoin blockchain. In the aftermath of the introduction of the BRC-69 token standard, inscribing, a process for creating Bitcoin non-fungible tokens (NFTs), has seen a surge in activity. According to statistics recorded by blockchain analytics company Glassnode, the number of new inscriptions jumped to over 350,000 on Monday. Since Ordinals’s launchpad Luminex introduced the Bitcoin Request for Comment (BRC)-69 token standard on July 3. The daily total has increased by more than 250%. Over 90% of the cost of Ordinal inscriptions was eliminated with the release of the updated BRC-20 standard. Luminex stated: Rapidly Growing Userbase Till now, it seems like BTC-69 has lived up to its billing. According to statistics compiled by Dune Analytics, daily inscription costs have remained stable despite a dramatic increase in the number of new inscriptions. As of January, Ordinals were live on the Bitcoin blockchain, bringing with them the NFT and smart contracts narrative and generating investor interest in tokens such as STX, the native currency of Bitcoin’s layer 2 Stacks Network. Despite the overall NFT market decline, this surge attributes to Bitcoin’s growing user base. According to Glassnode, there were two distinct phases to the Ordinals expansion, with the first covering the time period from early February to late April. The first wave was dominated by image-based inscriptions, while the second wave, which started in May, was dominated by free-paying text-based inscriptions. Highlighted Crypto News Today: BitOasis’ License Revoked by Dubai’s Crypto Regulator

Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. However, despite this notable increase, it failed to ward off the sellers who swiftly entered the market. Can Dogecoin regain its momentum and rise again, or will it succumb to the mounting pressure from the bearish sentiment? Bitcoin (BTC) also experienced a downturn in the previous week, and this negative trend had a noticeable impact on the sentiment surrounding Dogecoin. Unfortunately, the figures did not provide a strong basis for a potential recovery in DOGE. Instead, it indicated a looming decline towards the price range of $0.053 and $0.048. DOGE Bearish Indicators Emerge The current DOGE price on CoinGecko stands at $0.0652, experiencing a modest 0.7% rally within the past 24 hours. However, it is important to note that a decline of 5.8% has been recorded over the course of the past seven days. This price movement has prompted a closer examination of the market conditions, revealing some bearish signals and underlying trends. Based on a DOGE price report, it appears that bears are preparing to exert downward pressure on prices once again. The Relative Strength Index (RSI) has slipped below the neutral 50 level, indicating a shift in momentum towards the bearish side, suggesting that selling pressure may increase in the near future. Additionally, the On-Balance Volume (OBV) has been unable to surpass a resistance level since May, reflecting a lack of interest from buyers. This suggests that market participants may be hesitant to make significant purchases, contributing to the downward pressure on DOGE prices. Although some buyers noticed the recent short-term rally and made purchases as prices slowly edged higher, it is worth noting that this rally pales in comparison to the significant surge the meme coin experienced in early April, when Dogecoin reached the $0.1 level. This discrepancy, referring to the difference between the current rally and previous ones, implies that the present market upswing may be lacking an equivalent degree of enthusiasm and support from buyers. This observation raises questions about the sustainability and strength of the crypto. Outlook For DOGE The bearish signals observed, such as the RSI dropping below the neutral 50 level and the lack of conviction from buyers indicated by the OBV, suggest a challenging road ahead for DOGE. These factors may contribute to increased selling pressure and further price declines. Considering the current market conditions, it is important to approach the outlook for DOGE with caution. The short-term rally, although relatively subdued compared to past performances, could still offer opportunities for traders looking for quick gains. However, it is vital to remain vigilant and closely monitor the market dynamics. (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

Hamburg-based Berenberg Capital Markets recently highlighted the upcoming Bitcoin halving event as a potential trigger for the bullish case of Microstrategy, a United States-based software firm, in a recent research note. The research note emphasized that Microstrategy, with a bullish price target of $430, primarily derives its value from its substantial holdings of over 150,000 BTC. And Berenberg expects the historical trend of Bitcoin rallying after each halving to repeat. Halving Events And Bitcoin’s Market Impact Halving events are significant occurrences in the Bitcoin network that happen approximately every four years. During these events, the rate of new coin issuance is reduced by 50%, resulting in a slower influx of new Bitcoins into the market. The upcoming fourth Bitcoin halving, scheduled for April 26, 2024, is expected to follow this pattern. Berenberg’s recent research note highlighted the historical trend observed in the previous three halvings and suggested that a pre-halving rally could potentially commence in about four months. If this rally follows a similar trajectory to previous halvings. It could persist until approximately October 2025, according to the research note. Berenberg noted: Correlation Between Bitcoin And Microstrategy’s Stock According to the research note, there is a strong correlation between Microstrategy’s stock price and the price of Bitcoin, estimated to be around 0.90. If the fourth bitcoin halving triggers a significant rally in the price of the cryptocurrency, it is likely that Microstrategy’s stock will follow suit. This forecast is due to the positive outlook for Bitcoin’s post-halving performance contributing to the anticipation of a potential rally in Microstrategy’s stock price. Following the release of Berenberg’s research note, Microstrategy’s stock, with the ticker symbol MSTR, has already witnessed a notable surge of 7% in the past day. The stock, which was trading below its current price range in the previous month, is now valued at $407. The market’s positive response reflects the optimism surrounding the potential impact of the upcoming Bitcoin halving event on Microstrategy’s performance. Furthermore, it is worth noting that the concept of halving has since been associated with significant market movements in the past. And investors closely monitor these events for potential opportunities. The reduction in new coin issuance, combined with market demand, has historically contributed to price appreciation in Bitcoin. As such, the anticipation of the upcoming halving has sparked interest and speculation among market participants. Berenberg’s analysis adds to the narrative that the halving event could have a bullish impact on the price of Bitcoin. And, consequently, on companies like Microstrategy, which holds a substantial amount of Bitcoin on its balance sheet. Featured image from Blockchain Reporter, Chart from TradingView

Dubai, United Arab Emirates, July 11th, 2023, Chainwire Pikamoon, an emerging Ethereum blockchain game, has raised $3.6 million in its ongoing ICO to bring more value to the Ethereum ecosystem and revolutionise the blockchain gaming space. Pikamoon would launch the world’s most immersive metaverse game and a first-of-its-kind earning model that allows players to withdraw their in-game rewards directly to their wallet or bank account without the need for a third party. Pikamoon focuses on becoming the most realistic metaverse game where players can get a 360-degree experience of the growing virtual space through unparalleled gameplay, stunning visuals, and innovative DeFi features. Drawing inspiration from legendary games like Fortnite, Pokemon, and FIFA, the Ethereum game has leaped forward and is prepared to blend NFTs, video gaming, and metaverse entertainment perfectly. The Pikamoon game is built on Unity, the world’s most advanced game development technology, to create the stunning visuals and architecture needed to give players a truly immersive experience. Additionally, Pikamoon is built across two blockchains: Ethereum and MultiversX (formerly Elrond). While Ethereum provides scalability, MultiversX complements it by providing efficiency and ensuring the game is environmentally friendly by reducing carbon emissions generated by transactions. This dual blockchain feature ensures that the Pikamoon ecosystem can cater to legions of gamers without any lag. Gaming enthusiasts and smart investors are convinced Pikamoon is the future of gaming, and this is evident in how fast phase one and phase two of the ICO sold out. In the first phase, one PIKA sold for $0.0002, which increased to $0.0004 in the second phase, and now in the third and last phase, one PIKA is selling for $0.0006 and selling out faster. Notable partners of this Ethereum-based game include future-thinking Web3 brands such as Ethereum, Transak, Cryptonews.com, Kevuru Games, and MultiversX. This line-up of industry leaders further reinforces the credibility of the project, reaffirming the fact that the team is committed to building the best of the best gaming projects. Pikamoon offers investors the opportunity to enter what is strategically seen as a huge market of the Metaverse and gaming on the Ethereum blockchain. A core feature of the PIKA token is its deflationary nature. Whenever a sell or transfer transaction occurs in the Pikamoon ecosystem, 0.5% of the tokens involved in the transaction are burned forever, translating into more profits for long-term investors. The much-talked-about presale, which is still on, uses Ethereum as its base currency, becoming the new favorite of the Ethereum community. This seamless integration with Ethereum not only simplifies the investment process for eager investors but also strengthens the overall Ethereum ecosystem. About Pikamoon Pikamoon makes metaverse gameplay exciting and rewarding for players of all age groups. The Pikamoon’s metaverse, the Pikaverse, offers players endless opportunities to explore, battle, trade, and earn a living within the game. It operates on two blockchains, Ethereum and MultiversX, ensuring smooth and glitch-free gameplay for every player. Similarly, Pikamoon’s unique earning model allows players to easily monetize gameplay, solidifying its place as one of the best metaverse games on the market. Find out more about Pikamoon (PIKA) Website | Where to purchase PIKA | Twitter | Telegram Contact Founder Nick Evans Pikamoon [email protected]

Bitcoin has reached a critical juncture in its current market cycle, according to a recent analysis conducted by on-chain analytics firm Glassnode. The data reveals striking similarities to historical patterns, raising questions about the potential emergence of a familiar phenomenon: the re-accumulation period. A Resilient Market: Bitcoin Holds Firm At Mid-Cycle The Glassnode analysis reveals that Bitcoin is consolidating around the $30,000 mark, which acts as a significant mid-point within the 2021-2023 cycle. The historical significance of this level is not to be overlooked, as it has been tested repeatedly in previous cycles. Remarkably, the mid-cycle phenomenon is not exclusive to the current cycle; similar mid-cycle points were observed in both 2013-2016 and 2018-2019, displaying analogous supply dynamics. As Bitcoin currently hovers around the $30,000 mid-point, approximately 75% of the total supply is currently held in a profitable state, while the remaining 25% remains in a loss position. This balance of supply held in profit versus loss is reminiscent of equilibrium points witnessed during previous cycles, indicating a potential re-accumulation period. As Glassnode explains, “This 75:25 balance of supply held in profit:loss is the equilibrium point for Bitcoin. 50% of all trading days have seen a higher Profit-to-Loss balance, and 50% a lower one.” Such equilibrium points have historically required time for the market to digest and re-consolidate around, often accompanied by a period of sideways trading and volatility. This has become known as the “re-accumulation period.” At the moment, The supply held “in-loss” has declined to just 4.79 million BTC, reaching similar levels seen in July 2021 ($30k), July 2020 ($9.2k), April 2016 ($6.5k), and March 2016 ($425). Robust Recovery And Historical Comparisons According to Glassnode, Bitcoin’s price performance in 2023 has demonstrated remarkable resilience, with a maximum drawdown of only -18% thus far, a shallow correction compared to previous cycles. This suggests a substantial underlying demand for the asset and indicates a potential strong degree of investor support. Glassnode’s analysis further highlights the similarities between the current recovery rally and those observed in prior cycles. Historically, recovery rallies following a similar magnitude move off the cycle’s bottom often marked the genesis of a new cyclical uptrend. While exceptions exist, the parallels between the current recovery and those of the past offer an intriguing possibility for Bitcoin’s future trajectory. The report notes, “With the exception of 2019, all prior cycles which experienced a similar magnitude move off the bottom were, in fact, the genesis point of a new cyclical uptrend.” Remarkably, previous re-accumulation periods were characterized by a lack of macro market direction and tending to trade sideways. “With the market back at this equilibrium point, it remains to be seen if a similarly lengthy and choppy process is needed to overcome it,” concludes Glassnode. The Takeaway: Will History Repeat For BTC? Glassnode’s analysis unveils a fascinating narrative within Bitcoin’s ongoing market cycle. The emergence of the mid-cycle point and the familiar supply dynamics indicate that historical patterns are repeating themselves. While no crystal ball can predict the future with certainty, these insights offer intriguing possibilities for Bitcoin’s trajectory. At press time, the BTC price was at $30,626 and remained in the trading range of the last two weeks.

Close to 24 million Ether is locked up among 744,000 validators. Lido accounts for roughly 32% of all staked ETH due to its user-friendly staking model. On Monday, the total amount staked hit about $45 billion, representing nearly 20% of all Ethereum in circulation. This landmark achievement perfectly encapsulates the growth of Ethereum. Tokens are pledged to the network so that they will remain secure in exchange for financial compensation. According to a dashboard built by the user hildobby on Dune Analytics, as of right now, close to 24 million Ether is locked up among 744,000 validators who process transactions. Ditched Proof-of-work To verify transactions and earn transaction fees, validators on the Ethereum blockchain must stake at least 32 ETH. This proof-of-stake consensus methodology is used by a number of blockchains, including Ethereum. After considerable anticipation, Ethereum finally made the switch to proof-of-stake from proof-of-work in September of last year. Proof-of-work is an energy-intensive procedure employed by networks like Bitcoin. And until an update in April of this year made it possible, staked Ethereum couldn’t be withdrawn for months. Moreover, before the critical Shanghai update that allowed staking withdrawals, around $29 billion worth of Ethereum, or 14.5 percent of ETH in circulation, was staked. This significant accomplishment on Monday highlights Ethereum’s progress toward a consensus approach that is eventually more environmentally friendly. When it comes to staking Ethereum, the most popular option is Lido Finance, the biggest liquid staking protocol on the crypto market. According to Dune, it accounts for roughly 32% of all staked Ethereum due to its user-friendly staking model (any amount of ETH may be staked in return for a staked Ethereum token, or “stETH”). Highlighted Crypto News Today: DeFi Protocol Arcadia Finance Hacked for $455,000

Solana is up 7.02% at $22.14, with a market valuation of $8.8 billion as of press time. Pal has predicted that the price of Solana would rise above $400. In the last week, the cryptocurrency market as a whole has been on the upswing, with Solana (SOL) at the forefront with a 15.54% surge in the last 7 days. Solana (SOL) is up 7.02% at $22.14, with a market valuation of $8.8 billion as of press time. Raoul Pal, a seasoned investor, has expressed his unwavering optimism about a future price increase in Solana (SOL). In a recent interview with InvestAnswers, Pal speculated that following Ethereum’s 2018 bottom, Solana might mostly follow in ETH’s footsteps. Surge by a Factor of 20 The price of ETH increased by a factor of 47 at that time. According to Pal, even if Solana can’t match Ethereum’s success, it still has a chance to grow by a factor of 20. This estimate seems reasonable to him in light of Solana’s long-standing protocol and the obvious increase in network and ecosystem activity, he says. Pal has predicted that the price of Solana would rise to above $400 if his forecast comes true. If this were to occur, it would be a significant gain from its previous bull market high of $259.96. Contrary to the rest of the cryptocurrency market, Solana (SOL) has been doing well over the last week. Solana’s (SOL) price is being influenced by the ongoing bullish momentum and is now trading above the $20 resistance mark. There may not be a single cause for the recent increase in SOL prices, but several macro factors and overall momentum. Moreover, Pal continues by saying he anticipates Bitcoin (BTC) could increase by a factor of two to three from its all-time high. Highlighted Crypto News Today: Shiba Inu and LEASH Take the Lead in CMC Trends: Here’s Why

Two notices were issued on July 10 by the Virtual Assets Regulatory Authority (VARA). The regulator did not specify which requirements BitOasis had not met. Due to BitOasis’s failure to comply with regulatory requirements within the allotted time limit, the crypto regulator in Dubai has suspended the exchange’s operating license. Two notices were issued on July 10 by the Virtual Assets Regulatory Authority (VARA). Stating that enforcement action had been taken against BitOasis and that the Dubai-based company was under review. No Firm Granted FMP License Yet BitOasis was awarded a conditional license on April 12. Nevertheless, VARA said that the company was unable to begin operations unless “key conditions over 30-60 day timeframes” were satisfied. BitOasis’ “Licence for Institutional and Qualified Retail Investors remains ‘non-operational,'” according to VARA’s statement, however, the regulator did not specify which requirements BitOasis had not met. According to a blog post published in May, BitOasis was the first company in Dubai to get a “minimum viable product operational license” from VARA, enabling it to provide broker-dealer services to eligible institutional and retail investors in the emirate. For a Full Market Product (FMP) license to be given, this is the last stage in a lengthy procedure. As of right now, no company has been granted an FMP license by VARA. According to VARA, BitOasis must adhere to the terms of its existing license in order to apply for the FMP license. Moreover, as per the regulator, the organization would “continue to monitor the situation for regulatory compliance remediation.” The regulator reprimanded Su Zhu and Kyle Davies, founders of defunct crypto hedge firm Three Arrows Capital, in April. VARA discovered that they were advertising their unlicensed cryptocurrency exchange OPNX in Dubai. Highlighted Crypto News Today: DeFi Protocol Arcadia Finance Hacked for $455,000

After the Arkham token sale news, Binance observed one of the huge BNB deposits in the last 12 hours. The daily trading volume of BNB surged 180% to stand at $895 million. Blockchain analytics Lookonchain reported a huge BNB transfer that occurred on Binance in the last 12 hours. An anonymous whale moved nearly 141,835 BNB, worth $35.1 million, to 4 prominent Binance deposit addresses. Notably, the upcoming Arkham (ARKM) token sale on Binance Launchpad is detected as the most probable reason behind this whale activity. This event has spurred the daily trading volume of BNB to spike by 180% over the past 24 hours. BNB Surges Ahead of Arkham (ARKM) Token Sale Crypto exchange Binance announced its 32nd IEO on its native launchpad — the Arkham (ARKM) token sale — on Monday. ARKM will be the native token of Arkham Intel Exchange, a crypto data marketplace of Arkham Intelligence, a renowned blockchain intelligence platform. With the motto to “deanonymize the blockchain,” this marketplace enables users to trade on-chain data. On July 18, the ARKM token allocation to users, based on the count of the locked BNB, will be determined. To participate in this, users will have to accumulate and lock in Binance Coin (BNB). BNB Weekly Price Chart (Source: CoinMarketCap) In the wake of this speculative IEO, the BNB price observed a bullish rally over the past 24 hours. On Binance, the price of BNB/USDT jumped 7% from $231 to $248 at press time. At the time of writing, BNB traded at $248.12 with a 24-hour trading volume of $895,672,635. Highlighted Crypto News Today: Binance Launchpad All Set To Host Arkham (ARKM) Token Sale

PEPE recently reached a new peak, driven by the significant hype surrounding Bitcoin Exchange-Traded Funds (ETFs). However, as the initial excitement surrounding ETFs subsided, Bitcoin (BTC) experienced a period of fluctuation. Notably, during this time, PEPE has been gradually making lower highs. Amidst these fluctuations, it becomes essential to examine the underlying factors that have contributed to the declining trend in PEPE’s price perfomance. Are there external market forces at play, or is it indicative of a broader shift in the cryptocurrency landscape? Additionally, how will this development impact the future trajectory of PEPE and other cryptocurrencies? PEPE Price Performance: From Highs To Fluctuations PEPE recently reached a new high of $0.00000190. However, its current price on CoinGecko stands at $0.00000152, reflecting a modest 4.3% rally in the past 24 hours. Nevertheless, over the course of the last seven days, PEPE has experienced a significant decline of 13%. Technical indicators further emphasize the shift in PEPE’s price trajectory. A PEPE price report highlights that various indicators have flashed sell signals. Notably, the Relative Strength Index (RSI) has made lower highs, indicating a decline in buying pressure over the past few days. Moreover, the On Balance Volume has eased, suggesting a decrease in demand, while the Average Directional Index (ADX) has dropped below 20, indicating a lack of a strong trend for PEPE. These technical signals hint at the challenges PEPE has faced in the face of its recent fluctuations. Altcoins’ Massive Pullbacks Amidst Bitcoin’s Extended Consolidation Meanwhile, Bitcoin (BTC) has entered a phase of extended consolidation, with its price fluctuating above the $30,000 mark for nearly two weeks. This prolonged period of stability, coupled with intermittent fluctuations, has had a cascading effect on the broader cryptocurrency market, leading to significant pullbacks in most altcoins, including PEPE. BTC’s status as the leading cryptocurrency makes its price movements a crucial factor influencing the market sentiment and performance of other digital assets. When Bitcoin experiences extended consolidation, investors and traders often exercise caution and become more hesitant to make significant moves. As a result, altcoins, which rely on BTC’s stability and positive market sentiment, tend to be more susceptible to pullbacks and corrections. The pullbacks in altcoins have been notable, with many experiencing substantial declines in value during this period of Bitcoin’s consolidation. The high correlation between Bitcoin and altcoins like PEPE exacerbates the impact of the crypto’s fluctuations on their prices. As the alpha coin’s consolidation continues, closely monitoring its price movements and assessing the subsequent impact on altcoins and meme coins like PEPE becomes paramount for market watchers. (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 PBS

Shiba Inu (SHIB) burn rate surged more than 3800%. Recent SHIB whale transactions show positive signs, reaching the highest level since April. Shiba Inu (SHIB), the popular meme coin, has experienced an astounding surge in its burn rate, leading to the removal of a staggering number of tokens from circulation. According to data from Shibburn, the burn rate of SHIB skyrocketed by more than 3,800% on July 10, resulting in the permanent elimination of 508,958,446 SHIB tokens. Shiba Inu’s burn rate surges amidst mounting excitement for Shibarium’s public launch, which is confirmed to take place in August at the Blockchain Futurist Conference in Toronto, Canada. Shiba Inu (SHIB) Burn Rate (Source: Shibburn) At the time of writing, the SHIB burn rate had climbed over 2688% by sending 59,98,46,344 SHIB to dead wallets. Despite a recent slowdown in the burning rate over the past week, the current spike has reignited interest in the project. Shiba Inu (SHIB) Market Cap Shrinks Shiba Inu (SHIB) is currently priced at $0.00000760, a decrease of over 91% from its previous all-time high of $0.00008845, which was recorded on October 28, 2021. Also, the meme coin sees a marginal decrease in market capitalization; currently valued at $4.47 billion, resulting in a lower ranking of 19th place. But still, positive signs in whale transactions and token circulation have caught the attention of market observers. Whale transactions have reached their highest level in three months, further fueling renewed interest in SHIB. The tweet from Santiment revealed that 14 separate whales transferred over $1 million as of July 6. Further, Shiba Inu continues to generate buzz and intrigue within the meme coin community. Shiba Inu (SHIB) Price Chart (Source: Tradingview) Also, the price of Shiba Inu soared over 0.66% in a day and 11% in a month. Further, the Shiba Inu moving average (MA) indicates the short-term pullback. Recommended for you Shiba Inu (SHIB) Price Prediction 2023 Breaking: Shibarium Launch Date Confirmed, Shiba Inu Fans Wait Is Over!

The current price of Polygon (MATIC) is $0.7412. In the past 24 hours, MATIC has increased by 9.33% . Polygon (MATIC) price continues to surge, benefiting from the positive momentum generated by the Polygon 2.0 initiative. The recent expansion of the blockchain’s network capabilities contributed to a significant surge in the MATIC price. MATIC price chart (source:TradingView) As of now, MATIC is at $0.7412, with a 24-hour trading volume of $530,110,599. Within the last 24 hours, MATIC has demonstrated a notable growth of 9.33%. Analyzing the trading movements in the crypto market, MATIC’s Relative Strength Index (RSI) currently stands at 58.77, indicating that MATIC is currently in a neutral state without being overbought or oversold. Additionally, Polygon Lab made headlines last month with the unveiling of Polygon 2.0, a comprehensive upgrade package that aims to establish the Value Layer of the internet. Through this initiative, Polygon envisions an ecosystem that facilitates effortless value generation, exchange, and programming for its users. Furthermore, over the past few years, Polygon has actively pursued partnerships with mainstream companies, solidifying its position among the top cryptocurrencies. Also, In a recent development, the layer 2 scaling platform has joined forces with telecommunications giant Deutsche Telekom. As part of this collaboration, Deutsche Telekom will act as one of the validators on the Polygon Proof-of-Stake (PoS) network. Highlighted Crypto News Today Polygon (MATIC) Price Prediction 2023