Author: CryptoHoppers

The long-awaited distribution of Bitcoin from the collapsed Mt. Gox exchange has finally begun. This event has prompted industry veterans to share their insights, offering a range of perspectives on what the distribution could mean for investors and the market as a whole. Contrasting Views: Bearish Concerns vs. Bullish Optimism Jacob King of WhaleWire has sounded a bearish alarm, warning of a potential market downturn. King suggests that the combined effect of Mt. Gox repayments and German government sales could “easily wipe out any existing buy walls, plunging Bitcoin to new yearly lows.” He predicts a re-entry into a bear…

Mantra (OM) is up over 8% in the past 24 hours, amid broader crypto market volatility. Mantra’s bullish momentum The Relative Strength Index (RSI) indicates upward price movement in the neutral zone, suggesting potential without being overbought. Additionally, the Moving Average Convergence Divergence (MACD) has signaled bullish sentiment as the signal line crosses above the MACD line. Market sentiment surrounding Mantra remains positive, highlighted by a 7.9% surge in 24-hour trading volume, totaling over $50 million in OM tokens traded. This uptick underscores increasing investor confidence in the project’s growth prospects. OM’s technical data signals further price increases for the…

Key Takeaways Layer3’s airdrop increase to 7.5% supports its vision for a scalable omnichain infrastructure. With new funding, Layer3 plans to expand its team and operations, targeting growth in the APAC region. Share this article Layer3, a community-driven initiative focused on building an omnichain infrastructure for distribution, identity, and incentives, has adjusted its tokenomics and increased the initial airdrop to 7.5% of the total supply, Layer3 Foundation shared in a recent post on X. To match the scale of the vision for Layer3, we have made 2 key changes: • Total supply of L3: 3,333,333,333.• The initial airdrop will be…

UBS sees gold as an attractive geopolitical hedge and portfolio diversifier, rating the metal as most preferred in its investment lessons for the second half of the year report. The bank highlights strong market performance driven by AI investment and recommends diversified portfolios across various assets, regions, and sectors to navigate political and economic uncertainties. […] Source link

Bitcoin has dropped to as low as $58,000 in the last 24 hours, having failed to once again hold above the crucial support at $60,000. Different analysts have suggested that the CME gap caused this price decline and that BTC could enjoy a relief bounce going forward.  The CME Gap Caused Bitcoin To Decline Below $60,000 Crypto analyst Daan Crypto hinted in an X (formerly Twitter) post that Bitcoin experienced this recent price decline to close the CME gap around the $60,000 range. The CME gap is the difference between BTC’s price on the Chicago Mercantile Exchange (CME) futures market…

Flare, a Blockchain that is data-driven, has formed a partnership with LayerZero, a system that facilitates cross-chain communications, to distribute decentralized data across 75 Blockchains. This encompasses Ethereum and Solana.  This will enable users to employ the accessible data on 50,000 dApps belonging to Flare, which are spread across a diverse ecosystem. According to Flare Network CEO Hugo Philion, this is an absolute landmark move that will have an extremely positive impact on every user, as well as the Flare developers. He also stated that the placement of LayerZero V2 will serve as a catalyst for the advancement of Flare,…

Key Takeaways Bitcoin is nearing a 26% pullback in 46 days, its deepest retrace of the current cycle. A weekly close above $60,600 is crucial for Bitcoin to maintain its current accumulation range. Share this article Bitcoin (BTC) is currently in its deepest retrace of the current cycle, nearing a 26% pullback in 46 days. According to a recent video by the trader identified as Rekt Capital, the $58,000 price area might be volatile all quarter, serving as a baseline for BTC to take off into an upward movement. “We are still trying to hammer that base out. We are…

Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […] Source link

As Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners. On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since February. As of press time, Bitcoin rebounded above the $57,000 mark, but its previous quick plunge might signal weakness, potentially impacting sentiment among retail traders. Bitcoin daily price in USD | Source: crypto.news Blockchain research firm CryptoQuant noted that crypto beginners — who bought BTC over the past six to three months — have started moving their coins amid the…

Key Takeaways Mt Gox has moved 47,229 BTC ahead of a $9 billion payout to creditors. The transaction could influence market dynamics due to increased supply. Share this article Mt. Gox, the defunct Bitcoin exchange, transferred 47,229 BTC, worth around $2.7 billion, to a new wallet as it gears up to distribute $9 billion in Bitcoin, Bitcoin Cash, and fiat to its creditors starting in July, according to data from Arkham Intelligence. Mt. Gox now holds $8.1 billion in Bitcoin.Mt. Gox executes a $2.7 billion Bitcoin transfer to a new walletThe latest transfer follows a number of small ones made…