Month: July 2024

The ZKX Protocol, a Crypto.com-backed decentralized exchange, has shut down due to economic challenges. Following the announcement, the ZKX token plunged by over 50% in the last 24 hours. ZKX Token Plummets Over 50% On July 30, co-founder Eduard Jubany Tur announced the discontinuation of the ZKX protocol. He expressed regret, stating that despite their best efforts, they were unable to find an economically viable path for the protocol. According to data from CoinGecko, the ZKX token is currently trading at $0.01253, marking a 52.5% drop in value over the…

Bitcoin’s price recovery through July has provided some relief for miners, leading to a surge in mining activity and reduced selling pressure.  According to a July 31 report from CryptoQuant, miners are currently selling less Bitcoin (BTC) as daily miner revenues have increased by almost 50% since early July. As of July 29, miners’ hashrate was at 604 EH/s, an increase of 6% since July 9, when it reached its lowest level since Feb. 28. The report notes: “Daily miner revenues are currently around $32 million, compared to a YTD…

[PRESS RELEASE – Manila, Philippines, July 31st, 2024] Venom Foundation is thrilled to announce that $VENOM is now listed on Coins.ph, the leading crypto platform in the Philippines with over 18 million users. This strategic move represents the next significant step in Venom’s global expansion efforts, particularly into the dynamic Southeast Asian market. Key Highlights Expanding Reach in Southeast Asia: Coins.ph provides a robust platform for $VENOM, offering increased accessibility to a vast and engaged user base. With over 18 million users, Coins.ph is instrumental in the adoption and exposure…

Bitcoin traders may have finally grown tired of Mt. Gox Bitcoin “FUD,” with markets barely reacting to a new $3 billion transfer from a Mt. Gox-affiliated wallet. On July 30, Mt. Gox moved around 47,229 Bitcoin (BTC) to three “unknown wallets” over a three-hour period, according to Lookonchain. Over the period, Bitcoin stayed above $66,000 but briefly fell into the $65,000 range. At the time of publication, Bitcoin is trading at $66,105, according to CoinMarketCap data. Bitcoin worth $3.13 billion was distributed over a period of three hours. Source: Lookonchain/Arkham…

BlackRock has confirmed it has no plans to launch a Solana (SOL) ETF anytime soon, despite the roaring success of its Bitcoin and Ethereum spot ETFs launched this year. The company’s dismissal of small-cap altcoins leaves room for other asset managers to compete in this area, with some already filing to launch the product. BlackRock’s Take On A Solana ETF During a Tuesday interview with Bloomberg, BlackRock CIO Samara Cohen said a BlackRock Solana ETF launch is “not in the near term.” “We really look at the investability – what…

Bitcoin bears extended the sell-side activity after the July 30 Wall Street open as the drop below $66,000 resulted in large decrease in leveraged longs.  BTC/USD daily chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed Bitcoin (BTC) price trading at $65,798, down 2.3% over the last 24 hours. This followed a series of failed attempts to rise above $70,000, suggesting that this area is important to bears. Commenting on Bitcoin’s latest price action, popular trader Skew noted that around $800 million worth of BTC futures open interest…

[PRESS RELEASE – Dubai, United Arab Emirates, July 30th, 2024] Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will host Web3 experts to discuss “Blinks, AI, Ignition: Bridging Web3 and Web2.” This livestream will take place on Jul. 31, 2024, at 10AM UTC, and will focus on new crypto innovations that embed blockchain apps in traditional digital environments like Facebook, Twitter, et al with new crypto payment rails, unlocking productivity and ownership gains for content creators and small businesses globally. The hour-long session streamed via Bybit’s platform, will explore…

Despite the widespread criticism of the play-to-earn (P2E) model in 2023, some remained steadfast in their belief in the Web3 gaming model. They focused on discovering how to harness it as a “superpower” unlocked by the crypto space. In 2023, play-to-earn received much criticism and was generally perceived as a “flawed” system. Atari founder Nolan Bushnell said the model was the reason gamers hated crypto, while some predicted the Web3 gaming model’s downfall. Despite this, Luke Barwikowski, the CEO of the Web3 massive multiplayer online (MMO) game Pixels, continues to…

Kyiv police have detained four men, aged between 24 and 29, for the abduction and murder of a 29-year-old foreigner. The crime was driven by the motive to steal nearly 3 bitcoins (BTC), valued at approximately seven million hryvnias ($170,000). Details of The Abduction and Murder According to a report from the National Police of Ukraine, the incident unfolded around midnight when residents of a building in the Solomianskyi district heard screams and witnessed several men beating and dragging another person into a car. The victim, whose identity has not…

Crypto betting platform Polymarket has surpassed $1 billion in trading volume, with more than one-third of the volume brought on by wagers in just the last thirty days.  Polymarket witnessed $343 million in betting volume as of July 30, a significant step up from $111 million in June and $63 million in May, according to data from Dune Analytics. Polymarket surged to top $1 billion in lifetime betting volume. Source: Dune Analytics Fevered speculation over the United States presidential election has been the primary driver of the record volume.   To…