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Latest crypto news: What happened on the crypto market as of August 4 morning

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daily crypto news

Daily crypto news: Starbucks will develop loyalty program with web3 tools, Solana developers found alleged culprit of ecosystem exploit, ZBExchange withdrew cryptocurrency for nearly $5 million – these and other news in our review

Bitcoin (BTC) started Thursday with a rise, according to CoinMarketCap. The cryptocurrency is trading at $23,123. Bitcoin’s 24-hour low was recorded at $22,790 and its high was at $23,578.

In the top 10 most capitalized cryptocurrencies, Binance Coin has the best results for the day (+6.85) and week (+11.24). Within the last seven days and 24 hours, all cryptocurrencies except Cardano and a lot of stablecoins showed positive dynamics. ADA’s loss for the week was 0.39%.

According to Latest crypto news, in the top 100 most capitalized cryptocurrencies, according to the resource CoinGecko, the best result for the day (+34.7%) and week (+109.1%) was recorded at Optimism. Cronos was the most actively losing price in the last 24 hours ( 8.88%). Tennessee (-20.0%) recorded the largest losses during the week.

A cryptocurrency worth almost $5 million was withdrawn from the hot wallet of cryptocurrency exchange ZBExchange. The assets fell into the hands of fraudsters because of the hacking of the trading platform. The attackers sold the obtained cryptocurrency for Ethereum on a lot of decentralized crypto-exchanges. 

The developers of the cryptoproject Solana, whose ecosystem was exploited on the night of August 2 to 3, 2022, found the culprit. While investigating the incident, the organization’s team discovered that the security breach was related to Slope’s mobile cryptocurrency wallet.

Earlier, the project team urged users, for security purposes, to move cryptocurrency to cold storage and shared recommendations. The details of the incident are still under investigation.

The popular coffee chain Starbucks is planning to launch a loyalty program based on web3. This, during a phone conversation with investors, was announced by the company’s CEO, Howard Schultz. According to Schultz, the program will allow Starbucks to introduce new methods of customer engagement, expanding its approach to the “digital community” as well as increasing the list of available rewards. The company previously said it intends to enter the NFT marketplace by the end of 2022.


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First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days

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[PRESS RELEASE – London, United Kingdom, February 21st, 2024]

Bitcoin Dogs has now raised a total of $3.1M in the first 6 days of its historic presale. The project’s BRC-20 token, 0DOG, is the first-ever ICO on the Bitcoin blockchain.

Bitcoin Dogs leverages the recent Ordinals protocol to break new ground in the Bitcoin ecosystem and the team plans to launch a 10k-strong NFT collection later this year.

The opportunity to be part of history has been a key selling point for the brand, fuelled no doubt by the token price increasing every three days, until the presale ends on Friday, 15th March – after which the token will become available for trading.

In less than 6 days, the Bitcoin Dogs’ X community has surged past 80k followers, with a further 14.5k actively discussing the project in the Telegram community.

Bitcoin Dogs (0DOG) is available on the official website.

The Road Ahead For Bitcoin Dogs

Beyond the historic ICO that has launched the 0DOG token, Bitcoin Dogs has a very comprehensive roadmap as outlined in its whitepaper, comprising a new play-to-earn game as well as one of the largest collections of Bitcoin NFTs to date.

Retro 8-bit graphics bring the Bitcoin Dogs universe to life, a subtle nod to early NFT collections like CryptoPunks as well as classic pet simulator games such as Tamagotchi.

Gameplay is heavily integrated with social media, a mechanism designed to build community and take the game to a wider audience. Sharing progress allows players the chance to earn in-game currency, which they can then use to compete against other players in hair-raising races and dog-themed competitions.

Price Drivers For 0DOG

There are a whole host of factors likely contributing to the success of Bitcoin Dogs, including strong project fundamentals and a resurgent crypto market led by Bitcoin, alongside a powerful value proposition.

Bitcoin Dogs offers a tangible product, with a game and NFT collection on the horizon. The project roadmap is also clear, with a long-term strategy to sustain interest beyond the ICO.

The ICO itself has also been a key selling point: being the first presale for Bitcoin-based tokens has attracted numerous buyers, and the short 30-day window has encouraged prospects to get in early. The increased momentum could also be driven by the price increase every three days.

The project’s proximity to Bitcoin is also a likely boon. Bitcoin has seen increased price value in 2024, stabilizing above $50k at the time of writing ahead of the next halving, scheduled for April.

With media including Cointelegraph predicting new highs in the wake of the halving, the wider market could also benefit, and if so Bitcoin Dogs is well-positioned to enjoy Bitcoin’s slipstream.

Furthermore, the BRC-20 token standard (which allows new cryptocurrencies to be deployed on, and secured by the Bitcoin blockchain) has made waves since it was unveiled in 2023. BRC-20 projects like ORDI and ORNJ have achieved rallies of 3,000% and 677%, respectively.

With potential like this at the forefront, Bitcoin Dogs aims to be the leading contender holding the BRC-20 torch. With just 23 days remaining, there is limited time before the highly anticipated open of public trading.

About Bitcoin Dogs

Bitcoin Dogs is breaking new ground in the Bitcoin ecosystem. For the first time ever, NFTs, gaming, and new token types come together to offer the first ICO on the original Bitcoin blockchain. The truly permissionless immutability of Bitcoin is being harnessed to create the 0DOG token, while a play-to-earn (P2E) gaming experience and NFT collection is being developed exclusively for 0DOG holders.

For more information (0DOG) users can visit the Bitcoin Dogs’ website.

Website | Whitepaper | Socials

Contact

Bitcoin Dogs
Bitcoin Dogs Team
pr@bitcoindogs.club

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What Is Happening With the VanEck Bitcoin ETF? Trading Volume Explodes

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The VanEck Bitcoin exchange-traded fund (ETF) experienced a somewhat unexpected development on Tuesday, exceeding $258 million in daily trading volume, marking a 14-fold increase within a single day.

Despite the achievement, VanEck’s ETF has faced a challenge keeping up with the trading volumes observed in other ETFs, such as BlackRock, Fidelity, and Grayscale, which have led daily trading volumes since last month’s launch.

VanEck’s Surprising Surge in Trading Volume

VanEck crypto-based ETF’s previous high in daily trading volume was $25.5 million. As such, the company’s ETF was surpassed in both volume and net flows by competitors such as BlackRock, Fidelity, and Grayscale.

Bloomberg’s senior ETF analyst, Eric Balchunas, expressed surprise at VanEck’s exceptional performance yesterday in a post on X. He noted that the fund experienced a significant surge in trading activity, with daily volume reaching $258 million, a fourteen-fold increase over its average.

Balchunas observed that this surge was not driven by a single large investor but rather by approximately 32,000 individual trades, representing a sixty-fold increase from its average.

Despite the remarkable uptick in trading activity, Balchunas admitted uncertainty regarding the cause behind this surge. He speculated that it could be attributed to influence from online communities like Reddit or TikTok, suggesting a possible influence from retail investors.

VanEck’s head of ETF Products, Ed Lopez, acknowledged the challenge of pinpointing the exact reasons behind ETF purchases, given their trading on the secondary market. However, he highlighted that the day’s trading displayed robust volume with tight spreads, indicating healthy market activity regardless of investor sentiment.

VanEck Cuts Fees Fueling Investor Interest

Last week, VanEck filed a notice with the Securities and Exchange Commission that it would be reducing its fee from 0.25% to 0.20% on February 21.

According to Lopez, the decision to lower the HODL’s fee has increased the interest in the fund and brought more engagement from retail investors. BlackRock and Fidelity charge a fee of 0.25%.

Meanwhile, there has been a notable surge in trading volumes for WisdomTree’s Bitcoin Fund (WBTC), with the total daily volume reaching $154 million on February 20, an approximately 1,200% increase from the average volume. On the same day, WBTC witnessed 23,000 individual trades, a substantial rise compared to a mere 221 trades on the previous Friday.

VanEck’s Bitcoin Trust currently ranks as the seventh-largest spot Bitcoin ETF, boasting assets under management (AUM) totaling $191.9 million. In contrast, WisdomTree’s fund holds the smallest AUM, standing at $29.4 million, according to data from Dune Analytics.

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As Starknet Lists on Binance, Could Meme Kombat Follow After Hitting $10m Presale Target?

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Yesterday, Starknet (STRK), the layer-2 scaling solution for Ethereum, was listed on Binance and immediately hit a $2.4 billion market cap.

As one of the most talked-about Ethereum scaling solutions, Starknet’s listing signals the growing adoption of layer-2 technologies.

With meme coins also driving interest in the market, could Meme Kombat (MK) be next to attain a Binance listing after hitting its $10m presale target?

Starknet Trading Volumes Explode Past $1.6bn After Binance Debut

Starknet’s listing on Binance featured multiple spot trading pairs, including against USDT, BTC, FDUSD, and TRY.

Deposits opened at 12:00 UTC, with withdrawals and trading beginning at 13:00 UTC.

Almost immediately, trading volumes for STRK rocketed and have hit $1.6 billion since the token went live.

Starknet’s developers used various methods for token distribution, including airdrops and eligibility programs.

The Starknet Foundation distributed over 700 million STRK tokens out of 900 million set aside, with recipients including those who helped secure Ethereum and contribute to Starknet’s open-source ecosystem.

Additional community rebates and initiatives are planned going forward.

However, due to regulation, distributions of STRK were not available to those based in the US.

With solid tokenomics and strong community backing, Starknet seems poised for further growth.

STRK’s price has dipped 47% since yesterday’s peak, yet given that the token is still less than 24 hours old, volatility is to be expected as the market finds its footing.

The Features Behind Starknet’s Goal of Becoming the Go-To Ethereum Scaling Solution

Starknet operates as a validity rollup, processing Ethereum transactions off-chain before submitting cryptographic proofs to the mainnet.

This reduces congestion on Ethereum, enabling faster and cheaper transactions.

Starknet uses “STARK proofs” to aid with this setup, which provide solid long-term security compared to other protocols.

Additionally, Starknet introduces Cairo, a purpose-built programming language for writing STARK-proving computations more easily.

Unlike some layer-2 scaling solutions, Starknet remains fully permissionless and decentralized.

This gives developers flexibility similar to building directly on the Ethereum mainnet while still benefiting from Starknet’s massive scaling capabilities.

With an ability to handle 500 transactions per second (TPS) currently and the goal of reaching millions per second, Starknet aims to provide the scale needed to support mainstream use of dApps and digital services.

If Starknet can leverage the ongoing hype around its Binance launch, there’s a belief among some crypto community members that it could be the go-to scaling solution for Ethereum.

Meme Kombat Hits $10m Funding Target, But Will MK List on Binance Next?

With Starknet listed on Binance, attention now turns to other emerging projects that could follow a similar trajectory.

One potential candidate is Meme Kombat, which has taken the crypto world by storm with its unique combination of memes, staking, and gambling.

Having reached its $10 million presale funding goal, the native MK token seems primed for a major exchange listing soon.

Unlike many meme coins, Meme Kombat distinguishes itself through innovative features like AI-powered battles between popular meme characters and generous staking rewards up to 99% APY.

This combination of game elements and passive income is designed to create a thriving community and deliver long-term success.

Additionally, Meme Kombat has already attained endorsements from leading crypto YouTubers and analysts, suggesting strong faith in its potential.

For example, YouTuber Michael Wrubel told his 310,000 subscribers that it could be the “next 100x gaming meme crypto.”

With Meme Kombat’s presale funding target achieved, interested investors have one final chance to buy MK tokens for $0.279 before the exchange listings occur.

There’s now a countdown timer on the official Meme Kombat website, showing the number of days remaining before MK trading goes live.

No specific exchanges have yet been announced for the initial listing.

However, early investors in the Meme Kombat Telegram channel have begun to speculate that Binance, or another Tier-1 platform, could be lined up to support the first official MK trading pair.

With just 13 days to go before MK goes live, all eyes are on this trending token to see how it performs on the open market.

Visit Meme Kombat Presale

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