Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service called Hydra Pay. This eagerly anticipated solution comes at a crucial moment for Cardano’s native cryptocurrency, ADA, which has recently faced significant challenges following the United States Securities and Exchange Commission’s classification of the token as a security. In the midst of these regulatory challenges, ADA managed to defy the odds and soar with an impressive 11% gain, according to an ADA price report. However, as of the time of writing, the price of ADA has once again dipped into the red zone. Steady Development Activity But Declining ADA Price Raises Concerns Cardano, a prominent blockchain platform, is currently experiencing a slight setback as the price of ADA has shed 0.3% of its value in the past 24 hours, with a seven-day decline of 3.0%, according to data from Coingecko. As of now, ADA is valued at $0.285. Despite the recent fluctuations in ADA’s price, Cardano’s development activity (see figure below) has remained stable throughout 2023, in stark contrast to the erratic swings witnessed in the latter half of 2022. ADA Whale’s Tweet Fuels Anticipation Of Crypto’s Price According to ADA Whale, Hydra Pay holds the promise of revolutionizing micropayments within the Web3 realm. While no official announcement has been made by Cardano regarding this prospective feature, the mere teaser has ignited a wave of anticipation among fans and industry observers alike. The anticipation surrounding Hydra Pay stems from its potential to positively impact the price of ADA in the near term. Micropayments play a crucial role in the emerging Web3 ecosystem, enabling seamless and cost-effective transactions for various online services, content creators, and decentralized applications (dApps). If Hydra Pay delivers on its promise of revolutionizing this space, it could attract significant attention and usage within the Cardano ecosystem. Increased adoption of Hydra Pay could lead to a surge in demand for ADA tokens, as users seek to utilize the payment service for their micro-transactions. This heightened demand, coupled with the limited supply of ADA tokens, has the potential to drive up the price of ADA in the market. (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 Cardanians.io (CRDNS pool) – Medium

The platform has crypto assets of $176 million at the moment. The defunct crypto hedge firm Three Arrows Capital still owes Voyager $650 million. Almost a year after shutting down operations and filing for Chapter 11 bankruptcy, on June 23 of this year, insolvent crypto lender Voyager Digital permitted investors to begin withdrawals. Dune Analytics reports that since then, over $250 million has left the platform. Voyager reopened withdrawals to customers on June 23. The platform has crypto assets of $176 million at the moment, with a Clean Asset ratio of 96.15 percent. It comprises 2,287.4 bitcoins, 27,363.7 ether, 18,558,340 USDC, 2,060 trillion SHIB, and other altcoins. Soon after the Terra ecosystem collapsed, draining more than $40 billion from investors, Voyager Digital filed for bankruptcy. The crypto lender collapsed into insolvency as a result of a significant liquidity issue brought on by the influx of withdrawal requests. Partial Withdrawals The bankruptcy plan was approved by the court on May 17. The first payout for valid claims will be 35.72 percent, as per the plan. After 30 days, they may withdraw this sum in either fiat money or cryptocurrency via the Voyager app. The defunct crypto hedge firm Three Arrows Capital still owes Voyager $650 million. After the first distribution to creditors is complete, the major emphasis will be on recovering more assets to distribute to customers, who will be able to withdraw slightly over 35% of their funds. Creditors may also obtain access to an extra $445 million in client cash pending the outcome of Alameda Research’s preference claim against Voyager. Until at least the middle of September 2023, this issue is unlikely to be settled. Highlighted Crypto News Today: BABYDOGE Builds a Chance of Being in Demand, How?

Baby Doge Coin continues to burn a huge number of tokens. Currently, the BABYDOGE is falling by 2.76% in the crypto market. A silent-breaking BABYDOGE burn has become the highlighter of the crypto community over the last 24 hours. This effective Baby Doge Coin (BABYDOGE), the meme cryptocurrency just burnt its tokens at a jaw-dropping state. The absolute drop in the circulation supply of the Baby Doge Coin in the town has made a critical move in the total supply and demand. And, the current market capitalization of the same tends to fall by 1.76% at a value of $203.7 million. Sustainability of Baby Doge Coin However, the global crypto market capitalization is kept decreasing at a gradual level of depreciation overall compared to the last day. The BABYDOGE burn tracker reports and accounts for the current burn stats. An abrupt change in trading volume has become surprising since the market is low by 16.65% with a value of $2.71 million. This is with respect to the current circulation supply of 36.15% in its total value. Reports of BABYDOGE Burn So far, over the last 24 hours, it is reported that a certain set of BABYDOGE burn happened. The most worthiest BABYDOGE burn is accounted to be 136,297,352,058 worth nearly $188 and the highest of all is 314,729,120,128 worth approximately $421. BABYDOGE 24H Price Chart (Source: CoinMarketCap) As per the CoinMarketCap, the current market price is $0.000000001337 and is depreciating at 2.76%. The trading volume is rating at $2.58M with a fall of $23.21%. With this, crypto enthusiasts hope that this continuous burn create a huge demand in the crypto market. Related Crypto News: Baby Doge Coin (BABYDOGE) Price Prediction 2023

The Indian cyber crime dept. seized crypto users bank accounts citing P2P scams. Many investors lost their funds and accounts in P2P UPI transactions. The “seizure of multiple Binance P2P-linked bank accounts” sent a shockwave through the Indian crypto community as the country stepped forward to secure the people from scams and fraudulent activities using P2P UPI transactions, following the Rs. 2 lakh (around $2420) fund scam, which is circulated in the chain. The Indian government’s ‘cyber security department’ is seizing all bank accounts using peer-to-peer technology, citing issues with scams and fraudulent activities. Many users of the largest cryptocurrency exchange, Binance and Coinbase are experiencing distressing incidents related to P2P scams in India. The issues have been ongoing since mid-April. Recently, TheNewsCrypto also published an article about the issue that still exists. However, despite the “victims’ loud calls for help,” the crypto exchange Binance, or CEO Changpeng Zhao, aka CZ, has not yet responded to anything. Also, the crypto regulators and the communities are not doing anything to address the issue. Increasing Conflicts Over Indian Crypto Accounts The cyber police are freezing the bank accounts of common citizens who have no clue if the counterparty is ‘genuine or a scammer’. Even though the victims provided the necessary details to the investigating officers, they have not received any response or assistance thus far. If one account is blocked in P2P, then all connected accounts will also be blocked. Further, netizens from the crypto community in India started posting tweets to let others know about the suspicious event. Also, the P2P scam victims have formed a telegram group named “P2P Victims: Bank Seized” to discuss the cyber crime actions. The group has more than 1,500 members, and they aim to create awareness among the public. Still, it’s unknown how many have been affected by this. Moreover, some famed people are also working on highlighting the issues. However, the government can provide some guidelines on how to proceed with the transactions without affecting the common people.

HQMENA, a leading events management company, is proud to announce the upcoming Crypto Expo Dubai 2023, set to take place on September 20-21, 2023. This highly anticipated event will bring together global experts, innovators, and thought leaders in the crypto industry to explore the latest advancements, trends, and opportunities in the Middle East. Crypto Expo Dubai 2023 aims to be the top gathering for crypto enthusiasts, entrepreneurs, investors, and decision-makers in the region. As cryptocurrency continues to revolutionize various sectors, this event offers a unique platform for networking, learning, and collaboration, enabling attendees to stay ahead of the curve and gain valuable insights into the transformative power of crypto. The event will feature a diverse range of activities, including keynote presentations, panel discussions, interactive workshops, and an exhibition showcasing cutting-edge crypto solutions. Attendees will have the opportunity to engage with industry experts and explore real-world use cases across sectors such as finance, healthcare, supply chain, energy, government, and more. “We are thrilled to host Crypto Expo Dubai 2023, bringing together the brightest minds of crypto and blockchain industry,” said Michael Xuan, CEO of HQ MENA. “Dubai has emerged as a global hub for crypto innovation, and this event will provide a dynamic platform for industry leaders, startups, and enthusiasts to connect, share knowledge, and drive the adoption of crypto across various sectors.” Dubai, renowned for its forward-thinking approach to technology and innovation, serves as an ideal backdrop for Crypto Expo Dubai 2023. The event will provide participants with a unique opportunity to engage with key stakeholders in the region, including government officials, industry leaders, investors, and regulators, fostering collaboration and paving the way for future advancements in crypto technology. Whether attendees are crypto enthusiasts, industry professionals, or crypto beginners seeking to expand their knowledge, Crypto Expo Dubai 2023 promises to deliver an immersive and insightful experience. Registration for Crypto Expo Dubai 2023 is now open. Early-bird discounts are available for a limited time. For more information and to secure your spot, please visit the official event website at www.cryptoexpodubai2023.com. Follow Us On: Facebook Linkedin Twitter Instagram YouTube Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

COMP, the native token of DeFi lending protocol Compound Finance, has drawn much attention following its positive price performance in the last day. According to data by CoinMarketCap, COMP has risen by 11.03% in the 24 hours, emerging as the top daily gainer of the market. This price rise is quite significant, as COMP recorded some price drops in the last few days, which may have prompted concerns for its numerous investors after the token’s remarkable, bullish form in recent weeks. COMP To Break Key Resistance Level? In the third week of June, COMP embarked on a stunning bullish run which saw the DeFi token gain over 125% to trade as high as $69.15 as of July 4. Related Reading: Compound (COMP) Token Rallies Over 100% After CEO Quits – Details However, after attaining this price level, COMP came under significant selling pressure, losing over 9.63% of its market value in the last week before experiencing its recent price boost today. Looking at its 4-Hour Chart, its Relative Strength Index – a tool for measuring the pace and variation of price movement – is set at 53 but is currently ascending toward the overbought zone meaning the current price uptrend may last for a while. In tandem, the token’s Moving Average Convergence Divergence (MACD) line just crossed above the signal line, which is also interpreted as a bullish signal. Analyzing its price movement, COMP faces major resistance at the $70 price zone as the token has failed to break past this barrier twice in the last three weeks. However, if the market bulls are able to sustain the current buying pressure pushing past this price level, COMP is likely to resume its initial bullish trajectory. If the token fails to break past the $70 price zone, however, it will likely fall and retest at the $50.00 price mark, which currently represents its imminent support level. At the time of writing, Compound (COMP) is trading at $58.62, with a 0.60% decline in the last hour. The token’s daily trading volume is valued at $136 million, having gained by 216.75%. General Crypto Market In Red Amidst COMP’s market gain, a majority of the crypto market is experiencing slight losses, with the total crypto market cap declining by 0.77% in the last 24 hours, according to data by CoinMarketCap. Bitcoin (BTC), the premier cryptocurrency and market leader, is down by 0.60%, while Ethereum (ETH) has also seen its market price drop by 0.56%. Related Reading: ADA Price Consolidates Below $0.30 – What Could Trigger A Sharp Decline? Other notable cryptocurrencies such as Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC) are also experiencing similar fates, losing to the tune of 1.86%, 3.54%, and 3.80%, respectively.

Crypto exchange Binance US displays the strong depeg of stablecoins. Over the past week, the crypto market lost $128 million in hacks and exploits. Hacks and phishing attacks of different kinds invaded the crypto landscape in the first week of July. As a result, two major stablecoins breached their stable grounds, recording extreme lows on Binance US. On July 9, around 00:00 UTC, the largest stablecoin, Tether (USDT), depegged from its $1 parity and bottomed to an alarming low of $0.8800. Meanwhile, Circle’s USD Coin (USDC), its stablecoin rival, plunged to $0.8050 on the same day. Multichain Hack: Root Cause of the Depeg July 7 turned out to be the hack day in the crypto market. Contrary attacks commenced on the day — few without any loss of funds such as Aptos and the other with a notable $126 million loot. This USDT and USDC depeg on Binance is an aftermath of the Multichain hack. Multichain, formerly Anyswap, is a cross-chain protocol that enables crypto transfers via bridges over multiple blockchain networks. During this hack, the protocol’s Fantom Bridge was exploited. Various assets include Wrapped Bitcoin (WBTC), wrapped Ethereum (wETH), Dai (DAI), Tether (USDT), and USD Coin (USDC). Circle and Tether Freeze Millions of USDC, USDT Currently, Multichain has suspended all its services without any specific “return date.”The leading stablecoin issuers, Circle and Tether, froze 5 addresses associated with the Multichain hack. Three accounts held 63 million USDC and two accounts held 2.5 million USDT, as reported by blockchain security firm PeckShield. Highlighted Crypto News Today: Huge Funds Outflow from Multichain Protocol Raises Questions

Paris, France, July 10th, 2023, Chainwire Leveraging its successful $4.5m fundraising, Swaap launches its v2 protocol, bringing easy-to-use and powerful market-making strategies to the global DeFi community. Swaap v2 is unique in addressing key challenges such as impermanent loss which have plagued Liquidity Providers. Swaap, the cutting-edge market-making protocol for blue-chip crypto assets, is thrilled to announce the launch of its v2 protocol. With an emphasis on ease of use, state-of-the-art strategies, strong security, and solutions to impermanent loss, Swaap v2 is poised to democratize access to advanced market-making tools for the global DeFi community. What Sets Swaap v2 Apart: Making Market Making Effortless For the first time ever, Swaap v2 offers anyone – from institutions to individuals – a seamless way to engage in advanced market-making strategies. The protocol uses mathematically optimized strategies, which means it intelligently adjusts fees and asset holdings to maximize returns while minimizing risks, all on autopilot. Importantly, Swaap v2 addresses impermanent loss, a problem that has deterred many from participating as liquidity providers. The Tech Behind Swaap v2 With models built in collaboration with the Louis Bachelier Institute, a leading financial research institute, Swaap v2 brings the best of traditional financial market-making models to DeFi. It incorporates strategies that intuitively adapt to market conditions, safeguarding funds while optimizing returns. Moreover, liquidity providers can effortlessly engage with a wide array of assets across the Polygon and the Ethereum ecosystems. Launch Partners Powering Swaap v2 Swaap v2 is backed by notable launch partners to ensure robust functionality and support. Chainlink provides critical price feeds for on-chain defensive mechanisms and safeguards, further reinforcing security for Liquidity Providers. Additionally, Paraswap, Odos, and Open Ocean are onboard as aggregators, which already ensures significant volumes on the Swaap platform. FRAX, a leading stablecoin protocol, has approved a proposal to incentivize liquidity on a FRAX-ETH pool on Swaap v2 to reinforce its role as a connector token in DeFi. Built with Security at its Core In the world of DeFi, security is paramount. Swaap v2 has undergone rigorous audits by ChainSecurity & Quantstamp. Furthermore, Swaap v2 pioneers defensive modules and on-chain protections that offer users additional peace of mind. Swaap is celebrating the launch by offering Swaap tokens to the first wave of liquidity providers, seamlessly integrating them into the governance ecosystem. Liquidity Deposits to Secure Launch NFT Swapp invites users to deposit liquidity in Swaap v2 to not only unlock the full potential of their assets but also to secure exclusive launch NFT. This uniquely designed digital asset is Swapp’s way of acknowledging users early participation and commitment to the evolution of DeFi. Users who want to deposit liquidity to secure their piece of blockchain history and join the frontlines of DeFi innovation can visit this link. About Swaap Swaap is an innovative market-making protocol specializing in blue-chip crypto assets. Through pioneering models developed in collaboration with leading institutions, Swaap is revolutionizing DeFi market-making by providing liquidity providers with effortless and superior market-making strategies. Contact Head of Marketing David Costello Swaap [email protected]

Investors rush to take advantage of a price difference, known as an arbitrage opportunity. Binance.US will stop processing U.S. dollar withdrawals on July 20. There is a discount of around $2600 and $150, respectively, on the global spot price of Bitcoin and Ethereum, which are now trading near $27,500 and $1700 on the Binance U.S exchange. Following the US SEC lawsuit and the suspension of USD deposits and withdrawals, USDT has remained depegged to the USD at $0.91. On the cryptocurrency exchange, there are other altcoins that are selling at a discount. Massive Arbitrage Opportunity On Binance U.S, Bitcoin and Ethereum both rose by 2%, as investors rush to take advantage of a price difference, known as an arbitrage opportunity. The only individuals who can take advantage of this supposedly improved arbitrage opportunity are those who already have USD on Binance U.S. For over a month, US deposits have been unavailable. Binance.US will stop processing U.S. dollar withdrawals on July 20. The future of Binance in the U.S has been called into question by the cryptocurrency community, as several top executives leave the cryptocurrency exchange. Veteran trader Peter Brandt also took notice of the USDT depeg on Binance.US, accusing Binance CEO CZ and calling it the “scam of the decade.” He said that the same exchange had allowed to sell Bitcoin for $8,000 while the cryptocurrency was selling elsewhere for $60,000. According to him, CZ should be questioned by the community about this. In addition, investors’ continued holdings caused balances on exchanges to dwindle, causing liquidity concerns in the crypto market. Binance and Coinbase, two of the largest global cryptocurrency exchanges, are among those using a variety of methods and promotions to boost market liquidity. Highlighted Crypto News Today: Chaos on Binance US: Top Stablecoins Hit by Silent Crisis

In the fast-moving crypto world, one altcoin made particularly high waves last week: Solana. Within the top 100 cryptocurrencies by market cap, the SOL price recorded the second highest price increase within the last seven days with 8.5%. And the unexpected surge in price for many has catapulted the SOL token to arguably the most crucial resistance at the moment: the 200-day exponential moving average (EMA). Looking at the 1-day chart, the Solana share price was able to break above the 38.2% Fibonacci retracement level at $19.71, as predicted in our last chart analysis, and subsequently crossed the psychologically important $20.00 mark. While the first attempt failed, the Solana bulls celebrated a resounding success in the second attempt. However, as predicted in our last price analysis, there was increased selling pressure at the 200-day EMA currently at $21.97, to which the bulls succumbed. Similar to the last week of June, a consolidation may now be needed first to reset the technical indicators. In mid-June, SOL posted a 26% rally, followed by a seven day consolidation (bull flag). A similar scenario could be possible now. A retest of the 38.2% Fibonacci level at $19.71 could be on the table. Remarkably, the pressure on the bulls is huge as the Solana token has failed to break the 200-day EMA since April 2022. The most recent rejection occurred in April 2023, followed by a 44% crash. However, the external circumstances in the crypto market are different now. Due to the hope for a Bitcoin spot ETF, new life has been breathed into the altcoin market as well. Solana, despite its strong fundamentals, has been hit particularly hard by the FTX drama and more recently the SEC’s declaration of it as a security. Accordingly, a recovery offers plenty of upside potential. If the 200-day EMA breaks, the 50% Fibonacci retracement level (at $23.36) would certainly be only a short intermediate level before the yearly high at $27.00, which also coincides with the 61.8% Fibonacci level. A break above this chart level could open the floodgates for an even more massive rally. However, in addition to a general uptrend in the overall crypto market, this will certainly require a Solana-specific catalyst. For the recent rally, this does not really seem to exist. Reasons Behind The Recent Solana Price Rally While there isn’t a specific identifiable catalyst for Solana’s recent pump, several factors seem to be contributing to its upward trajectory. One driver has been the announcement of partnerships with notable entities. For instance, Coca-Cola in Serbia collaborated with Solana’s NFT platform, SolSea, to offer limited edition hoodies accompanied by NFTs during a music event. Moreover, Solana’s popularity on social media platforms cannot be overlooked, as on-chain data firm Santiment noted. The bullish sentiment surrounding Solana has reached new heights, with Reddit forums buzzing about the coin’s potential. Market influencers and Reddit traders have likely played a role in driving Solana’s price action, as their influence on market movements is well-documented. This social media hype has undoubtedly added fuel to the fire, propelling SOL’s price even higher. Interestingly, Solana faced a regulatory hurdle in June when it was threatened with delistings from several US exchanges due SEC lawsuits. However, the allegation that SOL is an unregistered security is vehemently denied by the Solana Foundation. Regardless of the ultimate outcome, this regulatory uncertainty has cast a shadow over Solana’s future, indicating potential challenges ahead. But despite these obstacles, Solana has demonstrated resilience. After weathering the storm caused by the FTX bankruptcy, the platform has made an impressive recovery. Its technology, which enables rapid and reliable decentralized applications and cryptocurrency services, continues to captivate the market. This allure, coupled with the platform’s promising performance, has piqued the interest of investors and fueled expectations of further gains. So while the exact catalyst behind Solana’s surge remains elusive, the combination of partnerships, social media buzz, and its resilient technology paints a picture of a cryptocurrency on the rise.

Shiba Inu (SHIB), a cryptocurrency featuring an adorable dog-inspired logo, has witnessed a remarkable surge in large transactions. However, there’s more to the recent surge than initially meets the eye. What is the driving force behind the significant increase in Shiba Inu transactions? Could this be indicative of a larger trend unfolding in the cryptocurrency space? Amidst the noticeable surge in substantial SHIB transactions, it is crucial to acknowledge the significant outflows from prominent holders. This particular observation prompts us to question the underlying motives driving these transactions and the potential consequences they may have on the market. Substantial Surge In SHIB Transactions A remarkable surge in substantial Shiba Inu (SHIB) transactions has recently been reported. According to a SHIB price report, these transactions witnessed an astonishing spike, skyrocketing by an impressive 454% last Thursday. Within the span of 24 hours, the cumulative number of these transactions reached an astounding 6.36 trillion tokens, translating into a substantial increase of $36.38 million in monetary terms. Although there was a slight decrease in volume during the subsequent 24-hour period, the level remained significantly high. During the weekend, the recorded value settled at 4.49 trillion SHIB or $34.38 million. The ongoing enthusiasm and involvement in the Shiba Inu token indicate a consistent commitment to its engagement. Shiba Inu: Market Response And Price Analysis The surge in substantial SHIB transactions and the sustained interest and activity surrounding the Shiba Inu token raise questions about their potential impact on its price. While the reported increase in transactions reflects heightened market engagement, it does not directly indicate the direction of the SHIB price. SHIB on CoinGecko is at $0.00000760. Over the past 24 hours, there has been a slight decline of 1.0% in its price, while the seven-day period has witnessed a marginal decrease of 0.2%. The price of SHIB is influenced by a multitude of factors, including supply and demand dynamics, market sentiment, and overall cryptocurrency market conditions. Large transactions alone may not be sufficient to determine the price movement of SHIB, as they could be attributed to various motivations, including profit-taking, portfolio rebalancing, or strategic moves by institutional investors. While the surge in transactions may initially suggest increased demand and positive market sentiment, the subsequent decline in volume could have mixed effects on the price of Shiba Inu. The decrease in transaction volume might indicate a temporary slowdown in buying pressure, potentially exerting downward pressure on the token’s price. (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: Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images

Either an unauthorized party has gained access to the account or the admin. Multichain made the announcement that it will be temporarily suspending services. According to on-chain analyst Lookonchain, Fake_Phishing183873 got 5,434 ETH after swapping 10.2M $USDT received from Multichain through anyUSDT Token address. Additionally, yesterday Fake_Phishing183873 got 67.76 $WBTC ($2.05M) from Multichain to the anyWBTC Token address. It was the MPC address that initiated the withdrawal. Either an unauthorized party has gained access to the account or the admin is moving funds to ensure their security. Hackers show no indications of stopping their constant onslaught. A phishing link was widely shared on Twitter shortly after the Multichain incident. Trapping Users Thru Phishing Links There has been a lot of buzz on Twitter about the fraudulent distribution of Fantom (FTM) to users, which has been deceptively attributed to the Multichain assault. The affected individuals were tricked into clicking on a phishing link that seemed to come from the non-profit Fantom Foundation, which is responsible for the Fantom network. As a result of the alleged exploitation of the cross-chain router protocol Multichain, stablecoin issuers Circle and Tether have frozen approximately $65 million in assets. The decision was made after a significant funds outflow on July 6 from the Multichain MPC bridge. The 0xScope knowledge graph protocol reports that the funds in at least three wallets that received USDC from Multichain have been frozen. More than $2.5 million in Tether USDT was reportedly frozen from two addresses that appeared on Etherscan’s list of “Multichain Suspicious Addresses.” No one knows what triggered the unusual wealth transfer. Multichain made the announcement on Twitter that it will be temporarily suspending existing services, albeit no return date was given. Highlighted Crypto News Today: Spain Becomes the Largest Operational Market for Worldcoin’s Project

The launch of Threads took place on July 5. Crypto Twitter figures expose fake accounts on Threads. According to reports, numerous prominent Crypto Twitter users have already issued warnings regarding the presence of imposter accounts on Meta’s new microblogging app, Threads. Threads, which introduced on July 5, has witnessed a surge in registrations, with the number of sign-ups exceeding 98 million in the days that followed. Nevertheless, it remains considerably behind Twitter’s projected 450 million user count. Wombex Finance, a decentralized finance platform, took to Twitter on July 8 to share a screenshot of an imposter account on Threads masquerading as their official account. Also they alerted users about the possibility of it being a scam. Emphasizing that their project does not have a presence on the platform. The NFT influencer Leonidas, who boasts a substantial follower base of over 93,000, issued a warning a day before their audience. Alerted them to the presence of scammers on Threads. Leonidas emphasized that not only their account but also other significant NFT accounts are being impersonated. Taking action, Leonidas revealed their newly created account on Threads, aiming to combat the impersonators effectively. Highlighted Crypto News Today Meta (Facebook) All Set to Launch Twitter Rival ‘Thread’ on July 6

Encryptus is thrilled to unveil the expansion of its fiat support for major crypto assets in the EU zone. This significant development aims to simplify the process of buying and selling cryptocurrencies for European users, granting users a seamless access to Bitcoin (BTC), USDT, USDC and GBPT against EUR and GBP in addition to US Dollars. This significant development expands Encryptus’ capabilities and enables the provision of a wider range of crypto-asset off-ramp and on-ramp services to institutions, including institutional investors, sovereign wealth funds, venture capitalists, asset management companies, fund managers, and high-net-worth individuals in most European countries. Encryptus was granted the VASP authorisation in July 2022 and was additionally added to the Lithuanian Crypto Operators register in Feb 2023. The firm is authorized to operate as a “Cryptocurrency Exchange Operator” and “Cryptocurrency Wallet Operator” in Lithuania; an European Union member country. Encryptus envisions an exciting future where users across Europe can effortlessly engage in converting major crypto assets to and from fiat, while also benefiting from the introduction of additional stable coins like GBPT to further enhance the offering. Token to token trading is not supported and only major crypto assets are supported. Buying and Selling Now Easier for European Users Encryptus offers a full proof eco-system that is well integrated with TRM Labs for Wallet and Coin Monitoring, KYC (Know Your Customer) and KYB (Know Your Business) onboarding online and self-custody with FireBlocks. The user experience is seamless because both Institutions and HNWIs can be fully onboarded by using a fully automated onboarding solution. In addition the ecosystem offers only clean cryptocurrencies when buying and selling. The users must bring their own wallets when buying crypto assets against fiat. Prior to buying, whitelisting as a service is offered on the platform. This is a unique service and not really available on any major platforms. The Encryptus services are also available to partners that allows them to consume the liquidity and technology via ready APIs. Businesses and Traditional companies can also launch their own OTC desk by fulfilling all the necessary KYB, Enhanced Due Diligence (EDD) As part of this cooperative effort, Encryptus has been actively developing local banking relationships and fostering local talent. According to Shantnoo Saxsena, the founder of Encryptus, Looking ahead, Encryptus also aims to bolster its competitive advantage in the banking sector, particularly in comparison to other jurisdictions vying for cryptocurrency-related business. The favorable cryptocurrency regulation in our region enables us to explore and support initiatives that contribute to the growth of the crypto ecosystem in Europe. Overall, it is important to note that Encryptus does not provide services to sanctioned countries and clients. In addition the services are not available to residents and citizens of the US, Canada and Japan. The users must submit their government approved ID and an address proof before using our bank payout services. The partners get access to our APIs only after finishing their KYB (Know Your Business) with Encryptus. About Encryptus Started as an advisory company in 2021, Encryptus has grown into becoming one of the major players in revolutionizing cryptocurrency payouts and pay-ins for businesses, HNWIs or institutional investors with big orders than doing so on open markets. The trading desk enables this by providing a secure and efficient solution that enhances seamless receipt of cryptocurrency and offers the option to convert it into local currency, eliminating intermediaries and reducing transaction fees. Additionally, Encryptus offers reliable off-ramp services, allowing users to convert cryptocurrency into local currency with full compliance to regulations. This provides a safe environment where users can transact confidently and securely. Lastly, Encryptus provides advanced APIs for streamlined payout processes, allowing exchanges and businesses to automate payouts and optimize operations. The platform ensures secure transactions for purchasing gift cards, mobile top-ups, and payments to employees, partners, and suppliers. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Worldcoin’s expansion to Spain resulted in a significant increase in World ID usage. Spain has become the fastest-growing operational market in Europe for Worldcoin. Worldcoin, the blockchain project by OpenAI CEO Sam Altman, has announced that 150,000 people in Spain have signed up for the World ID. Moreover, with this remarkable milestone, Spain has become the fastest-growing operational market in Europe for the Worldcoin project. This is a significant achievement for Worldcoin after its launch in Madrid over a year ago. On July 9, Worldcoin tweeted that Spain has become the largest market in Europe, with more than 20,000 new users added each month. Moreover, the World ID registration for neighboring Portugal has surpassed 1% of the total population. World ID is Worldcoin’s identity protocol that uses zero-knowledge proofs and biometrics. It allows people to digitally prove their identity and uniqueness. Worldcoin’s Expansion to Spain According to the report, Worldcoin has expanded access to the World ID throughout Spain. After the expansion, the country has become the leading operational market. The sudden surge comes after the country’s significant development in the Artificial Intelligence (AI) sector. Since the start of 2020, Spain has made remarkable progress in the development of Artificial intelligence. The country has strengthened itself to become the new heart of the AI sector in the European Union. The significant advancements in the AI sector are expected to be the major reason for the increase in World ID usage. This advancement in technology required the need to verify the online activity in Spain connected with humans. Worldcoin’s World ID becomes the solution for Spain’s needs. After the launch in Madrid, more than 150K people have registered for the World ID over the past year. And also, there are 20K people registered for the World ID each month after the expansion. Moreover, with this significant milestone, it is now included in Barcelona. It allows the Worldcoin Operator location to be available throughout the country to support the increasing interest in the project. Highlighted Crypto News Today: Blockonomics Empowers Global Merchants Through Decentralized Finance

Wall Street Memes has raised $13M in presales, showcasing strong community support. The creators of WSM are known for their successful Wall St Bulls NFT collection. The meme coins season continues to dominate the cryptocurrency market, with new meme coins every month. The new cryptocurrency called “Wall Street Memes (WSM)” emerged as a recent standout player in the crypto community. In just a month, the community-focused meme coin has raised an impressive $13 million in presale, solidifying its strong community backing and grabbing the attention of major crypto exchanges. Following the PEPE coin frenzy, which attracted crypto investors with a significant return, the journey of Wall Street Memes began. The meme coin secured about $300,000 on its first day of sales. Over the following month, this figure skyrocketed to an astonishing $13.1 million, indicating a remarkable level of investor trust and enthusiasm for the project. Wall Street Memes Current Status (Source: wallstmemes) Wall Street Memes (WSM) Emergence WSM’s creators, renowned for the successful Wall St Bulls NFT collection that sold out within 30 minutes of its launch, responded to market demand by launching this new meme coin. However, Wall Street Memes draws inspiration from the GameStop saga. Also, it aims to challenge traditional financial structures through the power of memes. Further, Wall Street Memes is an ERC-20 token with a maximum supply of 2 billion. To kick off, the project has allocated 50% of its token supply for a presale event. This distribution strategy has garnered significant interest. As it provides early supporters with an opportunity to acquire WSM tokens before they become publicly available. Additionally, 30% of the token supply has been reserved for community rewards, further incentivizing participation and fostering community engagement. The WSM token’s current price is $0.031 per token. Moreover, the rapid growth of Wall Street Memes has positioned them as a promising prospect for major crypto exchanges, including industry giants like Binance. With meme coins like Pepe and Shiba Inu showcasing significant price growth in recent months,WSM’s explosive entry into the market demonstrates the ongoing popularity of meme-based cryptocurrency (PEPE 2.0 and SHIB 2.0).

Cardano’s price is struggling below the $0.30 zone. ADA could start a sharp decline if it breaks the $0.2765 support zone in the near term. ADA price is moving lower below the $0.292 support against the US dollar. The price is trading below $0.290 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could decline heavily if the bulls fail to protect the $0.2765 support zone. Cardano’s ADA Price Faces Uphill Task This past week, Cardano’s price attempted a fresh increase above the $0.285 zone. The price climbed above the $0.295 resistance zone but the bears were active near the $0.30 zone. A high was formed near $0.3015 before there was a fresh decline. The price declined below the $0.285 level and tested the $0.2765 support. It is now consolidating losses below $0.292, similar to Bitcoin and Ethereum. There was a minor recovery wave above the 50% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. However, the bears were active above the $0.290 level. ADA is now trading below $0.290 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA/USD pair. On the upside, immediate resistance is near the $0.288 zone and the 100 simple moving average (4 hours). Source: ADAUSD on TradingView.com The first major resistance is forming near the $0.292 zone or the 61.8% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. The next key resistance might be $0.30. If there is a close above the $0.30 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone. More Losses in ADA? If Cardano’s price fails to climb above the $0.292 resistance level, it could continue to move down. Immediate support on the downside is near the $0.2815 level and the trend line. The next major support is near the $0.2765 level. A downside break below the $0.2765 level could open the doors for a sharp fresh decline toward $0.255. The next major support is near the $0.232 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.2815, $0.2765, and $0.255. Major Resistance Levels – $0.288, $0.292, and $0.300.

Litecoin (LTC) has recently faced a significant decline in its price, with bears gaining momentum as it slumps below the crucial $100 mark. LTC, often referred to as the “silver to Bitcoin’s gold,” has been a favorite among investors seeking an alternative to the pioneer cryptocurrency. The bearish momentum behind Litecoin’s decline raises questions about the factors driving this price slump and the potential implications for the broader cryptocurrency market. Will Litecoin be able to regain its strength and recover from this setback, or is there more downside ahead? Bears Pull LTC Price Down Litecoin is currently experiencing a downturn in its price, with CoinGecko reporting it at $93.52. This marks a significant decline of 4.5% within the last 24 hours and a substantial seven-day slump of 17.2%. As the price slips below the crucial $100 mark, traders and investors are closely monitoring the situation and assessing the potential factors that could influence LTC’s rebound. The recent dip below $100 has sparked concerns among market participants, indicating that sellers might be gaining the upper hand. Traders and investors are now paying close attention to the $90-$92 price range as a critical zone that could determine the outcome of the ongoing battle between the bulls and the bears. According to an LTC price report, if the price manages to hold above this level and the bulls can regain control, it could indicate a potential recovery for LTC. However, a breach of this support zone may further fuel the bearish sentiment and lead to additional downward pressure on Litecoin’s price. Insights And Technical Factors To Consider To anticipate how Litecoin will rebound from this slump, traders and investors should closely examine various insights and technical factors. Factors such as trading volume, price patterns, and support/resistance levels should be considered to gauge the strength of a potential rebound. Apart from technical considerations, market sentiment and external factors also play a crucial role in Litecoin’s price movement. As the broader cryptocurrency market often influences individual assets, monitoring industry-wide trends becomes vital. Traders and investors should keep a close eye on Bitcoin, the leading cryptocurrency, as Litecoin has often displayed a strong correlation with its price movements. If Bitcoin experiences a significant recovery, it could potentially boost sentiment across the cryptocurrency market and provide support for Litecoin’s rebound. Any positive developments in terms of regulatory clarity or major adoption announcements may also generate renewed interest in Litecoin and drive its price higher. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Pexels

In the rapidly evolving world of cryptocurrencies, centralized services and stringent regulations frequently overshadow the original vision of decentralization. Despite this, Blockonomics stands out as one of the few payment gateways that adheres to the decentralized ethos of cryptocurrencies. What is the issue? Bitcoin (BTC), the first cryptocurrency, was created to allow for decentralized Peer-to-Peer (P2P) transactions without the use of intermediaries. However, as Bitcoin’s adoption grew, the majority of payment gateways began to lean toward centralization. These gateways implemented stringent identity checks and closely monitored funds, jeopardizing the privacy and control that cryptocurrencies were designed to provide. The growing regulatory landscape, as well as the need to comply with stringent Know Your Customer (KYC) requirements, have all contributed to this trend of centralization. Blockonomics provides a refreshing alternative to traditional centralized payment gateways by empowering global merchants and giving them complete control over their funds. The platform provides a secure and private payment solution for the growing number of businesses embracing cryptocurrencies by allowing merchants to retain complete control over their funds and eliminating the need for third parties. Why Blockonomics? Blockonomics, in stark contrast to the current trend of centralization, emerges as a beacon of decentralized finance for global merchants. Unsurprisingly, it offers a distinct set of features that set it apart from other payment gateways by restoring control to users. Firstly, Blockonomics facilitates direct-to-wallet payments, as opposed to traditional gateways that hold funds on behalf of users. Payments are deposited directly into the merchant’s wallet, giving them complete control over their funds. Furthermore, this approach eliminates the need for KYC documentation, protecting both merchants and customers’ privacy. In this way, merchants can benefit from accepting Bitcoin payments without jeopardizing their privacy or burdening their customers with lengthy identity verification procedures. Blockonomics also integrates seamlessly with a variety of e-commerce platforms, making it simple for merchants to begin accepting Bitcoin payments. Merchants can start using the service in under five minutes thanks to a simple setup process. Secondly, Blockonomics charges low transaction fees, allowing merchants to maximize their profits from Bitcoin payments. Blockonomics improves the financial viability of accepting cryptocurrencies by lowering the costs associated with payment processing. Moreover, recognizing the importance of dependable customer support, Blockonomics offers merchants round-the-clock assistance. Whether it’s a technical question or a payment-related issue, merchants can rely on Blockonomics to respond quickly. Next, Blockonomics provides dedicated plugins for most content management systems (CMS), including WordPress, OpenCart, PrestaShop and Shopify. These plugins simplify the integration process and ensure that merchants and their customers have a pleasant payment experience. Tracking, accepting, and invoicing BTC payments with Blockonomics Blockonomics goes beyond being a conventional payment gateway by providing additional tools to merchants to improve their crypto experience. For starters, merchants can easily track multiple wallets and addresses using Blockonomics’ wallet watcher feature. This feature gives merchants real-time visibility into transactions and allows them to receive email notifications whenever payments are made. In addition, merchants can seamlessly generate invoices in fiat currency and receive payments in Bitcoin using Blockonomics’ invoicing tool. This tool ensures that merchants are paid the correct amount based on the current Bitcoin price, simplifying the invoicing process and mitigating the risks of price volatility. So, what’s the verdict? In an era dominated by centralized payment gateways, Blockonomics takes a firm stance in support of cryptocurrencies‘ original vision, namely decentralization. Whereas most Bitcoin payment gateways have fallen victim to centralization and increased regulatory scrutiny, Blockonomics remains committed to providing the benefits of decentralized finance to global merchants. Blockonomics also has over 40,000 users worldwide and has established itself as a trustworthy, safe, and dependable partner for merchants looking to accept Bitcoin payments in their e-commerce stores. Each online sale is also deposited directly into the respective merchant’s wallet, once again removing the need for any intermediaries. Ultimately, Blockonomics successfully distinguishes itself among payment gateways by providing global merchants with decentralized finance capabilities. It provides a secure, private, and efficient solution for merchants to track, accept, and invoice Bitcoin payments through its user-friendly integration, low fees, 24/7 support, dedicated CMS plugins, direct-to-wallet payments, and no KYC requirements. By adhering to true decentralization principles, Blockonomics acts as a catalyst for the widespread adoption of cryptocurrencies, allowing merchants to reap the benefits of everything DeFi has to offer.Check out the official website as well as the Twitter, YouTube, and TikTok channels for more information and regular updates.

Bitcoin price is moving lower below the $30,500 pivot level. BTC could decline heavily if there is a close below the $29,800 support zone in the near term. Bitcoin is moving lower below the $30,500 support zone. The price is trading below $30,500 and the 100 hourly Simple moving average. There was a break below a contracting triangle with support near $30,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline if it stays below $31,200 for a long time. Bitcoin Price Shows Bearish Signs Bitcoin price moved into the red zone after it broke the $30,500 support zone. BTC traded below the $30,000 level but the downsides were limited. The price seems to be trading in a range above the $29,850 support zone. There was a move above the 23.6% Fib retracement level of the downward move from the $31,630 swing high to the $29,868 low. The price even attempted a fresh increase above the $30,500 resistance but failed. Bitcoin is now trading below $30,500 and the 100 hourly Simple moving average. There was also a break below a contracting triangle with support near $30,200 on the hourly chart of the BTC/USD pair. If there is another increase, the price might face resistance near the $30,300 level and the 100 hourly Simple moving average. The next resistance is near the $30,500 zone, above which the price might retest $30,750. It is close to the 50% Fib retracement level of the downward move from the $31,630 swing high to the $29,868 low. Source: BTCUSD on TradingView.com If the bulls push the price above the $30,750 level, there could be a drift toward $31,000. The next major resistance is near the $31,400 level. Any more gains could open the doors for a move toward the $32,000 resistance zone. More Losses in BTC? If Bitcoin’s price fails to clear the $30,300 resistance, it could continue to move down. Immediate support on the downside is near the $30,000 level. The next major support is near the $29,850 level, below which there could be a drop toward $29,400. Any more losses might send the price toward the $28,800 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,850, followed by $29,400. Major Resistance Levels – $30,300, $30,500, and $30,750.