Lưu trữ cho từ khóa: CryptoCurrency

Altcoin

Karak integrates Space and Time to power trustless rewards

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Karak is tapping into Space and Time as its zero-knowledge coprocessor solution to power the trustless slashing and rewards for its Distributed Secure services.

In an announcement, the multi-chain restaking platform stated that Space and Time’s integration will provide a crucial security layer for decentralized services within the ecosystem. Karak, built on Ethereum (ETH), is a layer-2 project that looks to bolster user protection via universal security.

A ZK proofs solution for DSSs

Space and Time is a decentralized data warehouse that functions as a verifiable compute layer for blockchain and artificial intelligence applications. The platform offers a zero-knowledge (ZK) proofs solution that scales, which is essential for smart contracts, large language models, and enterprises.

Karak will utilize this technology for its DSS, which uses restaked assets to ensure security for various providers, including data availability marketplaces and zero-knowledge coprocessors. Space and Time’s fast on-chain proofs enable developers to quickly build and deploy DSSs.

Additionally, Space and Time is developing its own distributed secure service on Karak, aimed at enhancing the platform’s ZK-compatible indexing solution. This will allow the Space and Time community to run indexing nodes.

Coinbase and Pantera Capital back Karak

Karak, which recently raised $48 million in a Series A round at a $1 billion valuation, is backed by Coinbase and Pantera Capital. The funds will be used to accelerate the development of Karak’s universal security layer for Ethereum and the broader crypto community. Karak aims to create a universal restaking layer that integrates the global crypto economy, including every asset and blockchain network.

“Many assets have lower opportunity costs versus ETH, meaning the Distributed Secure Service (DSS) has an easier and much more viable path to sustainable yields. In an ETH-only environment, a DSS has to compete against every ETH yield opportunity with a new, novel risk profile,” Karak wrote on X.

Karak’s partners in the restaking ecosystem include Swell, ether.fi, Renzo, Kelp and Puffer Finance.

Wormhole was the first DSS on Karak, while the platform recently expanded its solution to offer native staking for Maker (MKR).

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Theo Crypto News

Bitcoin

AIOZ Network halts rally as cryptocurrencies mirror Bitcoin dip

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AIOZ Network, a decentralized crypto platform focused on integrating artificial intelligence into Web3 and storage solutions, has seen its upward momentum cool off amid broader crypto market declines.

The AIOZ Network (AIOZ) token traded to highs of $0.67 on July 29 before giving up some of the gains as the altcoin market pared gains alongside Bitcoin (BTC). The DePIN project’s slight dip at the time of writing meant AIOZ hovered just above $0.60, with 24-hour gains trimmed to around 10%.

However, AIOZ’s trading volume surged by over 570% to more than $32 million, indicating rising interest as it crossed into the top 100 coins by market cap. Despite this, profit-taking activities are likely as top cryptocurrencies shed recent gains.

Bitcoin plunge drags altcoins lower

Bitcoin’s recent plunge has significantly impacted altcoins, including AIOZ. BTC touched the $70,000 mark earlier in the day but fell to around $67,200 at the time of writing. This dip came after the U.S. government moved $2 billion worth of ‘Silk Road’ bitcoins, which caused a temporary market shake-up.

The top cryptocurrency reached lows of $66,700 before stabilizing, as on-chain data showed assets being transferred to two addresses. Blockchain intelligence platform Arkham suggested that one chunk of 10,000 BTC may have been sent to an institutional custody service.

AIOZ benefitted from Sei partnership

AIOZ’s bump followed the collaboration with Sei (SEI), a Layer-1 blockchain optimized for trading processes.

On July 25, the AIOZ Network team announced its collaboration with Sei to offer builders within the L1’s ecosystem access to key infrastructure-as-a-service solutions. These include AIOZ W3S, an S3 compatible object storage feature that leverages the AIOZ network of DePIN nodes.

Other products are AIOZ W3IPFS, which is a Web3 IPFS Pinning service; AIOZ W3AI, an AI-as-a-service platform that taps into the AIOZ DePIN GPU; and AIOZ W3Stream, an infrastructure that builders can leverage to host, share, and stream video (both on-demand and live-streaming).

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Theo Crypto News

Bitcoin

WisdomTree CEO says crypto is going ‘mainstream’

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Jonathan Steinberg, the founder and CEO of WisdomTree, believes that crypto is going mainstream and that adoption will gather pace amid further regulatory clarity.

Steinberg shared this view during an interview with CNBC’s ‘Money Movers’, commenting on Bitcoin (BTC) performance and Trump’s speech at Bitcoin 2024. He also talked about crypto going mainstream as an asset class amid current trends such as tokenization.

Trump’s speech key, Steinberg says

According to Steinberg, former President Donald Trump’s speech at the Bitcoin 2024 conference last week struck an ambitious tone and highlighted the overall sentiment around cryptocurrency’s future.

The WisdomTree CEO lauded Trump’s pro-crypto stance, noting that more than just his appearance at the Bitcoin event, the Republican nominee added a top politician’s voice to the industry’s growth. Trump vowed to fire SEC chair Gary Gensler if he wins in November’s election.

“More importantly,” Steinberg said, ”is that he’s promising regulatory clarity for crypto and digital assets broadly. I think that will have a very positive effect, not just on the crypto asset class, which is only half of the story but also blockchain-enabled finance that WisdomTree is a very early leader in.”

Bitcoin best performing asset in 15 years

In Steinberg’s opinion, Bitcoin has showcased remarkable growth since its inception 15 years ago. Within this time, BTC has emerged as the best performing asset, beating private equity. But there’s more to this feat, Steinberg noted.

“What’s so interesting about Bitcoin, with no employees and no institutional buying, it raised more than a trillion dollars. And now crypto as an asset class is well over $2 trillion. I think it’s going mainstream and will continue to go mainstream in years ahead.”

Steinberg also commented on crypto adoption across the world.

According to him, there’s nothing really complex about crypto, blockchain or things like decentralized finance and tokenization. What has previously driven people away from embracing the market and the different ecosystems built around it, is the skepticism from regulators.

“There’s nothing more transparent than blockchain and bitcoin in general,” he explained.

In his opinion, regulatory clarity and the launch of crypto exchange-traded products are some of the factors that will see the digital asset class continue to go mainstream.

WisdomTree ETFs market growth

WisdomTree, which provides several ETPs, including a spot Bitcoin ETF, recently reported its total assets under management at over $109 billion.

The New York-based firm recorded net inflows of $1.9 billion for its U.S.-listed ETFs in the second quarter of 2024 and reached total net inflows of $4.2 billion into its ETFs.

According to data by SosoValue, the WisdomTree spot Bitcoin ETF BTCW currently holds over $89.3 million worth of Bitcoin and has recorded net inflows of over $72.5 million.

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Theo Crypto News

Bitcoin

Plan B says: ‘I expect BTC price to double in 3-5 months’

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Bitcoin price could be trading at double its current value in the next three to five months, according to Plan B, crypto analyst and creator of the stock-to-flow (S2F) model.

Plan B’s Bitcoin (BTC) price projection comes as the digital asset breaks the $70,000 price level. According to the analyst, one metric stands out and is what suggests BTC could be hovering around $140,000 by November.

Plan B on Bitcoin price in 2024

On July 29, commenting on the price of bitcoin after the surge observed over the weekend, Plan B wrote on X that Bitcoin’s miner revenue had bottomed following the April 2024 halving.

“I expect bitcoin price to double from today in 3-5 months,” the analyst wrote.

Plan B sees this as the likely scenario based on the historical miner revenue, which currently shows miner capitulation is over.

“Miner revenue bottomed means less profitable miners stopped. Only the most profitable miners (with newest equipment and lowest power cost) survived, the battle is over, difficulty will pump from here. And investors will take over pricing (based on a doubled S2F ratio),” Plan B explained.

Analysts are bullish on BTC

Bitcoin surged to above $73k in March 2024, hitting the current all-time high as spot Bitcoin ETFs and halving momentum catalyzed upside momentum. However, the top coin plunged to under $60k in June as miners selling amid reduced revenue hit prices.

Further sell-off pressure from the German government’s BTC dump, crypto market’s reaction to the broader macro environment, and Mt. Gox news pushed Bitcoin price to lows of $55,600 in early July.

Analysts are now bullish on BTC rebounding higher, with potential catalysts including the upcoming U.S. election and further clarity in crypto regulation. Meanwhile, U.S. Senator Cynthia Lummis announced plans to introduce a Bitcoin reserve bill, and Trump said his administration would support such a move if he wins a second term in November.

Tron founder Justin Sun commented that China also needs to act, noting policy competition around this topic between China and the U.S. will benefit crypto.

Also, speaking at the Bitcoin 2024 conference in Nashville on July 26, Michael Saylor offered a bull case scenario where BTC price hits a staggering $49 million in 2045.

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Theo Crypto News

DeFi

Coinbase hacker jailed 3.5 years for stealing from over 500 users

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A hacker has been sent to prison for draining over $900,000 from the accounts of several Coinbase users.

Elliot Gunton, a resident of the United Kingdom, and his accomplices designed fake websites that mimicked the prominent cryptocurrency exchange. Coinbase users trying to log into the exchange were redirected to these malicious websites, resulting in their accounts being compromised.

These websites are typically designed to collect user data. When a victim enters their log-in information, the sensitive data is recorded and sent to the attackers.

While the exact details of Gunton’s tactics were not disclosed, Judge Alice Robinson of the Norwich Crown Court said the scheme was “highly sophisticated” and was the result of significant planning and technical expertise.”

The phishing scheme was reportedly active between 2018 and 2019. According to a 2020 Chainlysis report, the period saw a significant uptick in crypto crimes, with over  $4.3 billion worth of cryptocurrencies lost to various hacks and scams.

Gunton, who was 17 at the time, infiltrated over 500 Coinbase accounts and siphoned over $900,000. One United States resident allegedly lost over $16,000, while others were drained for hundreds and thousands of dollars.

He pleaded guilty to charges of conspiracy to commit fraud outside the UK and money laundering and is facing 43 months in prison.

Meanwhile, Coinbase has become the most impersonated crypto platform among global brands. According to a June 24 report from Mailsuite, the crypto exchange’s brand was tied to 416 reported phishing attacks over the past four years.

Most recently, on July 8, scammers pretended to be Coinbase employees and stole $1.7 million from a victim’s self-custody wallet. The victim was socially engineered into clicking a phishing link that compromised a part of his key phrase.

Scammers have also mimicked Coinbase Pro, Coinbase’s now-defunct professional trading platform. In May, an Indian national was charged with stealing $37 million in crypto from unsuspecting users via the fake Coinbase pro phishing website.

Security firm SlowMist has marked phishing as one of the leading causes behind crypto thefts in the second quarter of 2024. 

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Theo Crypto News

DeFi

BRETT surges 12% to become top gaining meme coin

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Brett, the largest meme coin on the Base Blockchain, surged by over 12% on Monday as positive sentiment spread through the crypto and stock markets.

At the time of writing, Brett (BRETT) was still up 11.7%, trading at $0.1395, according to data from crypto.news. Over the same period, the meme coin, inspired by a character from the “Boy’s Club” comic, had a daily trading volume of $50.7 million.

BRETT 24-hour price chart | Source: crypto.news

BRETT has now become the 71st largest cryptocurrency, with its market cap exceeding $1.38 trillion. Despite this rise, BRETT remains down 27.8% from its all-time high of $0.1939.

The surge in BRETT follows an increase in Bitcoin (BTC), the largest crypto asset by market cap, which rose by 3.1% over the past day to $69,471 on Monday. This came after Republican candidate Donald Trump revealed plans to make Bitcoin a national strategic asset if elected in November.

Bitcoin’s 24-hour lows and highs were recorded at $67,320 and $69,842, respectively.

The meme coin sector also saw minor gains, rising nearly 3.4% in the past 24 hours, with its market cap reaching $55.5 billion.

Bitcoin’s performance often influences the broader cryptocurrency market, including meme coins. When Bitcoin performs well, it typically boosts investor confidence and interest in altcoins, creating a positive feedback loop that drives up prices.

Brett’s rally was also supported by the continued success of the Base blockchain ecosystem. Launched in 2023 by Coinbase, Base has accumulated over $1.727 billion in defi assets, making it the 6th largest chain in the industry, surpassing popular networks like Cardano (ADA), Avalanche (AVAX), and Polygon (MATIC).

Additionally, Brett and other altcoins benefited from a rebound in the US stock market, indicating a risk-on sentiment among investors. The Dow Jones index rose by over 650 points, while the S&P 500 and Nasdaq 100 gained over 55 and 175 basis points, respectively.

In the past 24 hours, Brett has shown a notable upward trend, as reflected in its price chart. The price climbed steadily from around $0.123 to approximately $0.140, indicating a strong bullish movement.

From a technical perspective, Brett has formed a morning star pattern, a well-known reversal signal. Historically, the token has seen double-digit gains when this pattern appears. For instance, on July 12, the formation of this pattern led to a 40% increase in the token’s price.

However, there is a possibility that this rebound could be a dead cat bounce, where an asset experiences a brief rise before resuming its bearish trend.

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Theo Crypto News

DeFi

Bitcoin Cash surges 13%, becomes top gainer in crypto market today

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Bitcoin Cash has experienced a notable increase of over 13% in the past 24 hours, making it the top gainer among the leading 100 cryptocurrencies on July 29.

At the time of writing, Bitcoin Cash (BCH) had surged by 13.6% over the last 24 hours and was exchanging hands at $451. The crypto asset’s daily trading volume was hovering around $427 million, per data from crypto.news.

BCH 24-hour price chart | Source: crypto.news

Moreover, the cryptocurrency’s market cap stood at $8.75 billion, making it the 16th largest crypto asset, per CoinGecko. Despite the recent price rise, the token is still down 88.3% from its all-time high of $3785.8, reached on Dec. 20, 20217.

Originating from a hard fork of Bitcoin in 2017, Bitcoin Cash was created following disagreements within the Bitcoin community regarding proposed upgrades. Like its predecessor, Bitcoin Cash operates on a Proof of Work (PoW) mechanism, has a capped supply of 21 million coins and undergoes a halving event every four years. The reward for mining Bitcoin Cash is currently set at 6.25 BCH.

A notable distinction between Bitcoin and Bitcoin Cash is the block size; Bitcoin Cash supports blocks of up to 32 MB, significantly larger than Bitcoin’s 1 MB limit. This larger block size enables Bitcoin Cash to process a greater number of transactions within the same time frame.

The recent price rally underscores a rising interest from investors, particularly retail traders, in more economically priced alternatives to Bitcoin, which currently trades around $70,000 per unit.

While Bitcoin remains one of the priciest crypto assets, making full ownership challenging for some investors, Bitcoin Cash and similar hard forks present more accessible investment opportunities due to their lower price points.

The recent surge in Bitcoin Cash (BCH) is partially attributed to Kraken’s successful distribution of Bitcoin and Bitcoin Cash to customers affected by the 2014 Mt. Gox hack. This distribution occurred on July 27, 2024, marking a crucial step in resolving the long-standing Mt. Gox case.

Additionally, significant whale activity has been reported with notable purchases of BCH, as indicated by the whale tracker “FishTheWhales” on their July 29 post.

A trading analyst known as Dz_4L highlighted on X that Bitcoin Cash has emerged from an inverse head and shoulders pattern, suggesting a bullish trend. He predicts that BCH could see a further 15-20% price increase based on this momentum.

Meanwhile, interest in Bitcoin has spiked following former President Donald Trump’s announcement about major initiatives involving digital assets, including a proposal for a national Bitcoin reserve in the U.S.

As of now, Bitcoin (BTC) is trading at $69,716, having increased by 3.23% over the last 24 hours, with a low of $67,314 and a high of $69,804 within the same timeframe.

Other leading altcoins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) have also posted modest gains. The overall crypto market sentiment is positive, with the Market Fear & Greed Index displaying a score of 63 (Greed) out of 100.

The global cryptocurrency market capitalization currently stands at $2.48 trillion, reflecting a growth of 3.34% in the past 24 hours.

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Theo Crypto News

Bitcoin

Cantor Fitzgerald CEO unveils $2b Bitcoin financing initiative 

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Cantor Fitzgerald, a major U.S. financial services firm, has announced the launch of a Bitcoin financing business with an initial $2 billion in funding.

The firm’s CEO and chairman Howard Lutnick announced the move on July 27 at the Bitcoin 2024 conference in Nashville, Tennessee. Cantor — a major global financial player with $13.2 billion in assets under management — is expanding its support for Bitcoin (BTC).

According to the company’s press release, also published on July 27, the finance giant will begin with an initial $2 billion in financing and has plans for substantial growth in the future. The new initiative will provide leverage to investors who hold the leading cryptocurrency with the firm.

“We are excited to help unlock Bitcoin’s full potential and continue bridging the gap between traditional finance and digital assets,” Lutnick was quoted as saying in the announcement.

To kick off its venture, Cantor Fitzgerald says it will collaborate with “select Bitcoin custodians,” not yet specifying which particular firms.

Cantor’s CEO at Bitcoin 2024

During his address at the conference in Nasvhille, Lutnick defended the historically controversial leading stablecoin issuer, Tether (USDT), describing the asset as “incredibly well-capitalized” and emphasizing its vital role in the cryptocurrency market. He underscored the significance of stablecoins in enabling transactions and maintaining liquidity within the digital asset space.

Lutnick also drew a parallel between BTC and gold, advocating for Bitcoin’s unrestricted global trading.

As noted in the press release, the firm is one of the 24 primary dealers authorized to transact with the Federal Reserve Bank of New York.

The introduction of spot Bitcoin ETFs in the U.S. at the beginning of this year has already paved the way for increased institutional investment, and Cantor Fitzgerald’s financing business is likely to bolster this trend further.

Trump’s pro-crypto keynote at Bitcoin 2024

In related news, during the Bitcoin 2024 conference, former president Donald Trump encouraged attendees to “never sell your Bitcoin,” pledging that if re-elected, his administration would maintain a national “stockpile” of the flagship cryptocurrency.

Trump also proposed the creation of a crypto advisory council to develop favorable regulations and pledged to fire much-criticized U.S. Securities and Exchange Commission Chair Gary Gensler, positioning himself as a strong advocate for the cryptocurrency industry.

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Theo Crypto News

Altcoin

JasmyCoin emerges as top gainer amid increased social activity

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JasmyCoin has emerged as the top 24-hour gainer among the leading 100 cryptocurrencies as investors discuss further bullish momentum on social platforms.

The native token of the Japanese company Jasmy Corporation, JasmyCoin (JASMY), surged 7% in the past 24 hours and is trading at $0.032 at the time of writing. The asset’s market cap surpassed the $1.5 billion mark, making it the 53rd-largest digital currency at the reporting time.

JASMY price, RSI, social volume and exchange activity – July 28 | Source: Santiment

JASMY’s daily trading volume increased by 102%, reaching $224 million. 

Notably, JasmyCoin emerged as one of the top gainers on July 27 as the token’s price rallied by 12%.

According to data provided by Santiment, the social activity around JasmyCoin has been consistently rising over the past five days when the asset was changing hands at $0.029 before taking a deep dive to the $0.025 mark. Data shows that the JASMY social volume increased by six times since July 23.

Per data from the market intelligence platform, the JASMY exchange inflow surged from 65.4 million to 105.3 million tokens over the past 24 hours. This movement hints at potential short-term profit-taking as JasmyCoin briefly touched a local high of $0.033 yesterday, July 27.

The exchange inflow, however, registered a smaller surge than the amount of tokens leaving the exchanges. According to Santiment, the JasmyCoin exchange inflow rose from 58.2 million to 86.6 million coins in the past 24 hours.

At this point, more investors are looking for potential profit-taking if the JASMY price rallies.

Data from Santiment shows that the JasmyCoin Relative Strength Index is currently sitting at 61. The indicator shows that the asset is slightly overbought at this price point and a price correction would be expected due to its high volatility.

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Theo Crypto News