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Join Our Telegram channel to stay up to date on breaking news coverage Meme coin mania erupted on Coinbase’s new Layer 2 Blockchain, Base, as BALD token surged into the stratosphere. At one point at the weekend Bald, seemingly named after bald Coinbase CEO Brian Armstrong, was up four million percent despite having no official website, known backer, or use. As Base is yet to be linked to the rest of the crypto ecosystem, investors on the network are unable to take profits until developers introduce a token bridge. That’s not scheduled until August 9.  So what is a $BALD token and why did it go viral? Here are some answers to those key questions:  What is BALD Token? Information about the BALD coin is currently scarce as it lacks an official website or a description on CoinMarketCap. However, it is a meme coin, whose name is believed to be a playful reference to Coinbase CEO Brian Armstrong‘s bald head. Due to its limited availability of details, further information about th

Santiment revealed that whales have been stocking up on stablecoins like USDT, USDC, DAI, and BUSD. The YTD market shares for some of the most popular stablecoins in the market have drastically changed, according to trader Ali. Only USDT and TUSD saw their YTD market shares increase. The on-chain analytics platform, Santiment, shared on Twitter today that stablecoins are being accumulated by key whale and shark wallets as the price of Bitcoin (BTC) remains below $30,000. Santiment’s data indicated that stablecoins such as Dai (DAI), Binance USD (BUSD), USD Coin (USDC), and Tether (USDT) are being targeted by these large holders. Key #whale & #shark #stablecoin wallets appear to be loading up during #Bitcoin's visit below $30k here at the end of the month. #Tether, #USDCoin, #BinanceUSD, & #Dai are all seeing supply shifting into these key wallets. Explore more with Sanbase PRO. https://t.co/vnmD8qjcov pic.twitter.com/2PB5HAgoj9 — Santiment (@san

The crypto market is witnessing significant evolution, with several innovative projects mainly Borroe (ROE), Cardano (ADA), and Polkadot (DOT) aiming to revolutionize the crypto scene. Let’s explore these projects, their Features , and explore why they are popular in the crypto and blockchain landscape. Borroe: a new era in fundraising  Borroe is introducing a platform that aims to transform fundraising practices.  Key to their vision is the integration of AI-powered risk assessment, secure blockchain technology, and streamlined payment solutions.  Through AI, Borroe ensures a secure and efficient fundraising process, instilling participant confidence and trust. The non-fungible token (NFT) marketplace at the core of Borroe’s ecosystem facilitates the easy trading of future recurring revenue NFTs between buyers and sellers on secondary markets.  You might also like: Borroe aims to shape how web3 businesses monetize services This peer-to-peer approach fosters a dynami

Immutable X (IMX), a layer-2 scaling solution on Ethereum, has risen by more than 15% after being listed on the South Korean exchange Upbit. Immutable X (IMX) experienced a remarkable price surge, with its token price leaping above $0.83, the highest level since May 6.  The catalyst behind this meteoric growth is the announcement of IMX’s listing on Upbit, one of South Korea’s leading crypto exchanges. Despite the broader market’s consolidation phase, IMX defied the trend. The trading of IMX on Upbit started at 4:00 UTC on July 28, with the exchange only accepting IMX deposits from the Ethereum (ETH) network. This significant development contributed to the token’s surge in value and strengthened its status as a powerful player in the crypto industry. You might also like: Fan tokens soar amid Upbit listing Another factor that further bolstered the value of IMX was the project’s strategic partnership with Helika Analytics. This alliance has brought exciting possibilities

The $85-billion venture capital firm launched the Sequoia Crypto Fund in February 2022. Venture capital giant Sequoia Capital reportedly downsized its crypto currency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions. Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition, folks! #CryptoInvestments $BTChttps://t.co/hfsAAd8jeV pic.twitter.com/8JvtyShg0n — Chain Review (@Chain_Review) July 27, 2023 The crypto currency fund will now focus more on backing early-stage startups, given the recent crypto industry turmoil that took away many of the opportunities to back larger companies. Another motive behind the

The Saudi Central Bank warned in 2019 that Bitcoin is “not recognized by legal entities” but hasn’t made many statements on crypto since. Hong Kong is expanding its financial collaboration with the Kingdom of Saudi Arabia, targeting agreements related to tokenization and payment s infrastructure. The Saudi Central Bank (SAMA) and the Hong Kong Monetary Authority (HKMA) on July 26 held a bilateral meeting to strengthen the integration of financial services between the two countries. As part of the meeting agenda, the HKMA and the SAMA discussed initiatives such as financial infrastructure development, open market operations, market connectivity and sustainable development. The central banks also signed a memorandum of understanding (MoU) to promote joint discussions on financial innovation. HJMA chief executive Eddie Yue (left) and SAMA governor Ayman Alsayari (right). Source: HKMA According to an official joint announcement, Hong Kong and Saudi Arabia’s authorities also took the oppor

Miami Heat all-star Jimmy Butler has requested removal from a class-action  lawsuit  against Binance. He argues that his promotional tweets didn’t endorse the securities in question.  His legal team presents three promotional tweets posted between Feb. 2 and 13, 2022. They argue that these tweets do not mention the supposed unregistered securities. Butler’s counsel believes that his tweets, rather than suggesting any specific investment, were cautionary, encouraging potential Binance customers to thoroughly research before making crypto investments.  This angle is pivotal to Butler’s defense, setting his communications apart from typical celebrity endorsements. Trust yourself. 02.13.22 Here's a message from all-star basketball forward @JimmyButler ️ pic.twitter.com/WS9XCQrlhO — Binance (@binance) February 2, 2022 Butler’s association with Binance began in 2022 when the NBA All-Star player, currently with the Miami Heat, joined a promotional campaign in collaboration with Bi

Officially Live On Domestic Transactions FEDNOW’s deployment promises to offer individuals and businesses across the country quicker and more effective payment processing. To ensure a flawless and error-free live environment, the decision was made to initially restrict its activities to domestic transactions. advertisement The introduction of FEDNOW has been eagerly anticipated, and its successful implementation is regarded as a crucial first step toward modernizing the U.S. payment system. The new technology runs in real-time, making it possible to send funds instantly between banks, speed up settlements, and improve overall financial efficiency. First vice president of the Federal Reserve Bank of Boston and FedNow program leader Ken Montgomery recommended further involvement from the financial institutions. Global figures indicate that the ecosystem for quick payments was worth $100 trillion in 2021. Additionally, Asian nations like China and India are do

Join Our Telegram channel to stay up to date on breaking news coverage Now worth $1.92 billion, crypto mining is expected to become a $7 billion industry in 2032. That growth could be more if not for the prevalent misconceptions around it. These misgivings have created a perception that mining is difficult. The reality, however, is that mining is easier than it seems. Through technological advancements over the last 10 years, crypto mining has aligned more with the world’s environmental and economic goals. Common Misconceptions About Mining That Are Holding Back Crypto Adoption From Newsweek’s long-debunked article titled “Bitcoin mining on Track to Consume All of the World’s Energy by 2020” to a reminder about mining’s energy consumption during Coinbase’s rise, the mainstream media narrative has always rallied against Bitcoin. Their efforts have given rise to many misconceptions. Bitcoin’s Energy Consumption Equates to Carbon Emissions Crypto skeptics have spun this narrat

This shows that the top US equity indices have been closing the gap with the 2023 gains in the crypto market. The rise in the value of the top 100 digital tokens has slowed down to 46% so far this year, which is not much higher than the 41% increase in the Nasdaq 100 Index of technology stocks. The tech stock index received a boost from the excitement around artificial intelligence products, briefly surpassing the MVIS CryptoCompare Digital Assets 100 Index in June. advertisement Courtesy: Bloomberg Chart Patterns Flag Caution for Bitcoin Some chart patterns are indicating that investors should be careful. The Bollinger bandwidth for Bitcoin’s 20-week period has become the narrowest it has been in seven years. This means that the movements of Bitcoin could become more intense, especially if certain important levels are broken. The Bollinger study helps us understand how much the price of Bitcoin is changing over time. Furthermore, the BTC price has give

Join Our Telegram channel to stay up to date on breaking news coverage Lawyers for Sam Bankman-Fried accepted a gag order against him in his criminal fraud trial but asked for the government, new FTX CEO John Ray, and other witnesses to be gagged as well. The prosecution’s request for Bankman-Fried to be gagged followed its allegations that he leaked the diaries of former FTX colleague Caroline Ellison to the New York Times to undermine her credibility as a witness in his trial. Bankman-Fried’s lawyers wrote in a letter filed yesterday that their client had done nothing wrong and argued that he had the right to counter what it called almost uniformly negative press coverage about him. “This toxic media environment has been created and fostered in multiple fora by many of Mr. Bankman-Fried’s detractors – most notably, the current CEO of the FTX Debtor entities, John J. Ray III, who has routinely (and gratuitously) attacked and vilified Mr. Bankman-Fried,’’ they said. Sam Bankm

LINK, FIL, SNX and THETA are starting to look bullish right as Bitcoin prepares for a volatile price move. Bitcoin (BTC) is struggling to rise above the overhead resistance at $31,000 but a minor positive is that the bulls have not allowed the price to dive below the $29,500 support. This suggests that a catalyst may be needed for the price to break out from its range. On the macroeconomic front, the Federal Reserve’s meeting on July 25 and 26 is an important event to keep an eye on. The FedWatch Tool shows a 99.2% probability of a 25 basis point rate hike in the meeting. If that happens, the markets may not witness a knee-jerk reaction as the hike seems to have been priced in. However, any surprise move by the Fed could thrust the price out of the range. Crypto market data daily view. Source: Coin360 Several analysts expect the range to break soon but there is no consensus on the direction of the breakout. If the price breaks below the range, analysts expect a significant downside.

No More Quick Gains From Bitcoin? According to on-chain specialist Gustavo Faria , the Spent Output Profit Ratio (SOPR) for the STH cohort was very close to 1. Every currency that has been swapped on-chain has its realized profit and loss disclosed by SOPR. The present sellers will experience a loss if the value is less than 1. On the other side, a higher value indicates that the seller is making money. advertisement Following the bullish BTC era, the SOPR range was meant to act as a support area. That hasn’t happened, though. A push toward 1 suggests that the majority of STH were making minimal to no progress, the financial analyst said.  The LTH has a bigger spent profit than the STH if this statistic is exceptionally high. And when this occurs, it suggests that BTC might be close to the market’s peak. However, 1.38 was a comparatively low result for the SOPR ratio. As a result, Bitcoin can be viewed as being closer to the bottom than the top.