In recent weeks, German authorities have stepped up the sale of significant amounts of Bitcoin (BTC), resulting in increased selling pressure on the world’s largest cryptocurrency, which has fallen over 20% in the past month. 

Bitcoin Reserves On The Brink Of Exhaustion

The selling spree began last month when the German government initiated the sale of seized Bitcoin from a wallet operated by the country’s Federal Criminal Police Office, commonly known as the Bundeskriminalamt (BKA). 

The BKA sold 900 BTC in June valued at around $52 million at the time, which were part of a massive haul seized from a now-defunct movie piracy website. Subsequently, the government sold an additional 3,000 BTC worth approximately $172 million, followed by another sale of 2,739 BTC, equivalent to $155 million this week.

Adding to these figures, the latest data from blockchain analytics firm Arkham reveals that the German government’s wallet sold over 5,000 BTC on Wednesday, leaving just 15,552 BTC in its stash worth around $892 million, representing a sell-off of more than 80% of their entire stash of 50,000 BTC seized. 

Price Remains Steady As BlackRock Steps In

Despite the significant sell-off, Bitcoin has managed to maintain its price above the crucial 6-month support level of $50,000, signaling resilience in the face of the massive selling pressure witnessed in the market over the past 30 days. 

Furthermore, the recent pullback from all-time high levels has been viewed by many investors, including institutional asset managers, as a buying opportunity, contributing to the slight recovery in Bitcoin prices over the past few days. Akrham even stated in a social media post, “The German government is selling, but Blackrock is buying. 

Recent data shows that on Wednesday, the Bitcoin ETF market activity has seen a net addition of 4,862 BTC valued at $281 million, mitigating the impact of the daily sell-off by the German authorities. 

BlackRock for instance, one of the largest ETF issuer by assets under management,  increased its BTC holdings today by 2,095 BTC (worth $121.16 million), bringing its total holdings to 312,565 BTC worth $18.08 billion, playing a significant role in stabilizing and supporting the Bitcoin price. 

At the time of writing, the largest cryptocurrency on the market is trading at $57,430, almost unchanged from Tuesday’s price with a slight drop of 0.4% in the last 24 hours. Nevertheless, BTC still records a price drop of over 22% from its all-time high of $73,700 reached in mid-March. 

Featured image from DALL-E, chart from TradingView.com 

Source: NewsBTC.com

The post German Government Unloads 80% Of Bitcoin Holdings, Leaving Only $890M Behind appeared first on Crypto Breaking News.

What Are Nodes in Crypto?
A crypto node is a computer or server that connects to a blockchain network, playing an important role in maintaining the network’s integrity, security, and functionality. Nodes store, spread, and preserve the blockchain’s data, ensuring its continuity and the decentralized nature of the ledger. Below, I will take a closer look at what are nodes in crypto, their primary functions, node types, and how to set up your own crypto node.
Crypto Nodes: Summary
Crypto nodes are essential computers or servers connected to a blockchain network, crucial for maintaining the network’s functionality, security, and integrity.Nodes store, spread, and preserve blockchain data, ensuring the continuity of the ledger and facilitating the decentralized nature of the blockchain, thus eliminating risks associated with central control.Nodes operate on a peer-to-peer basis within the blockchain network, ensuring all data, like transactions and newly mined blocks, are accurately and consistently updated across all copies of the blockchain.Nodes perform critical functions such as validating new transactions through cryptographic checks and following consensus mechanisms to agree on the blockchain’s current state, ensuring uniformity and preventing fraud.Common types of nodes include full nodes, light nodes, mining nodes, archival nodes, and validator nodes, each playing unique roles in enhancing and securing blockchain networks by validating, storing, or processing blockchain transactions.
What Is a Crypto Node?
A crypto node refers to a computer or server that connects to a blockchain network and plays a crucial role in maintaining the network’s functionality, security, and integrity. These nodes store, spread, and preserve the blockchain data, thereby ensuring the continuity and decentralized nature of the ledger.

In blockchain networks, nodes serve as the foundation that allows various technologies and applications to operate securely and transparently. Each node on the network holds a copy of the entire blockchain or a significant part of it and works in unison with other nodes to maintain a consistent state of the ledger. Through nodes, the blockchain achieves its decentralized nature, as they are spread across the globe and operated by different individuals or organizations, removing the risk of central control or single points of failure.
How Do Crypto Nodes Work?
Crypto nodes operate on a peer-to-peer network, forming the backbone of blockchain networks. Each node communicates with others to transmit information such as transaction data and newly mined blocks, ensuring the blockchain’s accuracy and up-to-date status across all copies. Here’s how different types of nodes contribute to the network:
Consensus Mechanism: Nodes follow a consensus mechanism, a set of rules and processes through which all the nodes agree on the current state of the blockchain. This mechanism prevents fraud and ensures that each copy of the blockchain is identical across every node.Transaction Validation: When a new transaction is made, it is broadcast to the network where nodes perform checks against previous transactions to confirm its validity using cryptographic techniques.Block Propagation: Mining nodes, after successfully creating a new block, broadcast this block to the network. Full nodes then verify the block according to the blockchain’s rules and, upon validation, add it to their version of the blockchain.
Why Are Blockchain Nodes Needed?
Nodes are fundamental to the function and security of blockchain networks. They ensure the decentralization of the network, where no single entity has control over the entire blockchain. Here are the primary reasons why nodes are indispensable:
Decentralization: By hosting and updating copies of the blockchain independently, nodes ensure that the network remains decentralized, removing any single point of failure and making the system more resilient against attacks.Security: Nodes help secure the blockchain by constantly verifying the blocks and transactions according to the consensus rules. This collective verification prevents the double-spending problem and ensures that no invalid transactions are recorded on the blockchain.Transparency and Trust: Every transaction on the blockchain is verified by multiple nodes, which ensures its correctness and immutability. This process builds trust among users and enhances transparency, as every action taken on the network is publicly verifiable.
To summarize, crypto nodes are essential for the operation, security, and integrity of blockchain networks. By participating in the consensus mechanism and validating new transactions and blocks, nodes help maintain the blockchain as a trustworthy and decentralized ledger. Light nodes, mining nodes, and full nodes each play specific roles that ensure the blockchain remains efficient and scalable while requiring varying degrees of storage space and computational power.
Types of Crypto Nodes
Each type of node plays a unique role in enhancing and securing blockchain networks, ensuring their smooth operation and the integrity of the blockchain data. Whether through validating, storing, or processing blockchain transactions, these nodes collectively maintain the decentralized and distributed nature of blockchain technology.
Here are some of the major types of blockchain nodes used by various cryptocurrencies.
Full Nodes
Full Nodes are the most robust type of nodes in blockchain networks: they maintain a complete and up-to-date copy of the entire blockchain ledger. These nodes independently verify all transactions and blocks against the blockchain’s rules, a process crucial for securing the network and preventing fraud. Full nodes play a vital role in the consensus process, as their comprehensive verification of the blockchain ensures that only valid transactions are confirmed and added to the blockchain. Operating a full node requires significant storage space and bandwidth, as it involves processing large amounts of data to keep the blockchain accurate and consistent.
Light Nodes
Light Nodes, also known as SPV (Simplified Payment Verification) or lightweight nodes, require less storage space than full nodes, making them ideal for personal computers and mobile devices. Light nodes do not store the entire blockchain. Instead, they download only the block headers—small chunks of data that contain a summary of each block. This allows light nodes to verify the authenticity of transactions without complete information contained in full blocks. By querying full nodes (that do store the entire ledger) for specific transaction data, light nodes can confirm transaction validity efficiently and participate in the network with minimal resource usage.
Mining Nodes
Mining Nodes are specialized nodes that create new blocks in the blockchain through the process known as mining. Mining involves solving complex cryptographic puzzles to discover a new block, which is then added to the blockchain. These nodes perform this crucial function by bundling unconfirmed transactions into a block and then attempting to generate an acceptable hash for the block that meets the network’s difficulty criteria. Mining nodes are critical for processing and confirming transactions, adding them to the blockchain, and generating new coins. Not all mining nodes necessarily maintain a full copy of the blockchain, but they must engage in intensive computational operations to support the network.
Archival Nodes
Archival Nodes serve as historical record-keepers for blockchain networks. Unlike full nodes, which only need to keep the most recent states of the blockchain to verify transactions, archival nodes store the entire history of the blockchain transactions without pruning any data. This type of node is crucial for network participants who need access to the entire blockchain history for purposes such as complex data analysis, auditing, or the restoration of a node’s state. Archival nodes require significant storage capacity as they accumulate more data over time.
Validator Nodes
Validator Nodes are a key component in blockchain networks that use a proof-of-stake (PoS) consensus mechanism. These nodes are responsible for validating transactions and blocks, ensuring they adhere to the network rules. Validator nodes are selected based on the amount of cryptocurrency they hold and are willing to “stake” as collateral. In return for their services and the risks they take (including the potential for penalties if they approve fraudulent transactions), validator nodes receive transaction fees and block rewards. Their role is pivotal in maintaining the network’s security and integrity without the high energy consumption associated with mining nodes.
Authority Nodes
Authority Nodes are specialized nodes found primarily in private or consortium blockchain networks. They maintain a comprehensive and authoritative copy of the blockchain ledger and have the exclusive right to validate and approve transactions. These nodes are typically operated by selected organizations or entities that have been granted special privileges due to their significant stake or trust within the network.
How to Set Up a Crypto Node
The crypto node setup process can vary slightly depending on whether one is setting up a full node, light node, or joining mining pools. Here’s a general guide to help you set up and run crypto nodes.
Choose the Type of Node: Decide if you want to run a full node, light node, miner node, or another type based on your resources and the role you want to play in the blockchain network. Full nodes require considerable storage space and bandwidth to handle the entire blockchain, while light nodes are less resource-intensive.Hardware Requirements: Ensure you have the necessary hardware. For a full node, this typically includes a reliable computer with a powerful processor, sufficient RAM (at least 8GB), and substantial hard drive space (1TB or more is recommended to accommodate the blockchain’s growth). High-speed internet with no data cap is also crucial, as nodes need to be online 24/7.Download Blockchain Software: Choose and download the appropriate blockchain client from the official website of the cryptocurrency. This software is responsible for executing the consensus algorithm and enabling your computer to act as a node. Make sure to download the latest version to keep up with network updates and improvements.Sync the Blockchain: After installing the software, the next major step is to sync your node with the blockchain. This involves downloading and verifying all previous transactions in the blockchain’s history, which can take several days for full nodes due to the size of the blockchain.Connect & Configure Your Node: Configure the node software to start automatically and ensure it is properly connected to other nodes in the network. You might need to configure your router to forward certain ports to your node’s computer. It’s essential that your node is reachable by other nodes to fully participate in the decentralized network.Join a Mining Pool (if applicable): If you are setting up a mining node and choose to join a mining pool, at this stage, you will register with the pool and configure your mining software to connect to the pool’s server. Mining pools allow individual miners to combine their computational power to increase their chances of mining a block and earning rewards.Maintain & Monitor: Regularly check and maintain your node. Updates to the node software are common, and staying updated is critical to the security and efficiency of the blockchain network. Monitoring tools can help you keep an eye on your node’s performance and connectivity.
By following these steps, you become a part of the blockchain’s decentralized nature, contributing to its security and robustness. Node operators play a vital role in the blockchain ecosystem, ensuring the integrity and continuity of the decentralized network without the oversight of a central authority.
Why Set Up a Crypto Node?
That’s all good and great, but why would an average investor even care about crypto nodes and consider getting one themselves? Well, here are some reasons why setting up a crypto node can be advantageous for investors:
Enhanced Security and Verification: By running a node, investors can independently verify transactions on the blockchain without relying on third-party services. This introduces an additional layer of security, as they can ensure that their outgoing and incoming transactions are legitimate and properly recorded on the blockchain.Direct Participation in Governance: Certain blockchain networks allow node operators to participate in governance. For investors, this can mean direct influence over decisions like protocol updates, changes to the consensus algorithm, or other important aspects that could affect the asset’s value and operation.Improved Privacy and Control: Operating a node offers greater privacy since the investor does not have to expose their transactions to third-party nodes for propagation or verification. This control extends to transaction data, which remains more confidential.Access to Real-Time Data: Running a full node gives an investor access to real-time blockchain data, which can be a critical asset for making informed investment decisions. This immediate access to new transactions and blocks allows traders to react more quickly to market movements.Potential Earning Opportunities: Depending on the blockchain, nodes might also earn transaction fees or rewards for their participation in the network, particularly in systems using a proof-of-stake (PoS) consensus mechanism. This can offer an additional income stream beyond potential capital gains from their investments.Contribution to Network Health and Decentralization: By running a node, investors contribute to the decentralization and overall health of the blockchain network. This strengthens the network’s resilience against attacks and centralization, ultimately supporting the long-term stability and reliability of their investment.

https://x.com/0xCryptoMakki/status/1809980008527708537

TON and Polygon Labs Collaborate to Bring EVM Functionality Through New TON L2

The TON Application Chain (TAC) and Polygon Labs have announced a significant collaboration to introduce Ethereum Virtual Machine (EVM) functionality to the TON ecosystem. The integration, revealed on July 9, involves the TON L2 incorporating Polygon CDK and the interoperability protocol Agglayer. This move aims to enable EVM-compatible decentralized applications (DApps) on TAC, expanding the range of services available to TON users, including decentralized finance (DeFi), gaming, and identity solutions.

TAC is described as a layer-2 network built on TON, designed to bring EVM-based decentralized applications to both TON and Telegram users. The founding team of TAC includes notable figures such as Curve founder Michael Egerov and the team behind The Open Protocol (TOP), which provides crypto wallet functionality within the Telegram app. Looking ahead, Pavel Altukhov, CEO of TAC, mentioned that TAC is planning to raise an additional $5 million in an external funding round.

Altukhov explained that the introduction of EVM compatibility is a game-changer for the TON Network. He highlighted that this will remove barriers for users and expects a surge in interest for DeFi and GameFi applications post-integration. He also mentioned the recent integration of USDT on TON and the rise of Tap-to-Earn applications, particularly through a project called Notcoin. "The expansion of the mini apps ecosystem has driven the growth of 5.8 million monthly active on-chain wallets on Telegram. TAC's integration is expected to amplify this demand further," he added.

With applications like Wallet in Telegram, the EVM-compatible integration will provide Ethereum developers access to Telegram's extensive user base, facilitating the implementation of more real-world crypto applications. Potential use cases include DeFi applications, gaming, and decentralized identity solutions.

It's not the country of Germany that's been selling millions of dollars worth of bitcoin, but a small German state called Saxony.

The state confiscated almost 50,000 BTC in January and has been selling its holdings as per standard practice for assets seized during criminal investigations, an expert said.

For days, news outlets worldwide have reported on Germany's sale of hundreds of millions of dollars worth of bitcoin {{BTC}} and the ensuing distress in markets and major sell-offs in crypto prices.

First, it's not Germany itself that is selling the cryptocurrency. It is a small state in the eastern part of the country called Saxony.

Second, though crypto fans have roasted the decision to dump so much of their beloved bitcoin, Saxony doesn't have a choice.

Earlier this year, the state's Criminal Police Office (known by its German acronym LKA) seized 49,857 bitcoin (worth almost $3 billion at current prices) from the operator of Movie2k.to, a website Saxony found guilty of money laundering and other illegal activities.

About a week ago, a crypto wallet that belongs to the German Federal Criminal Police Office, or BKA, started moving thousands of BTC to exchanges including Kraken, Coinbase and Bitstamp, signaling an intent to sell them. The wallet's bitcoin holdings have dwindled to 23,788.

Reactions on social media have been harsh.

"Germany selling all their #Bitcoin will go down as one of the most retarded things their politicians ever did," one X user wrote.

"Germany's govt officials are literal idiots," another said.

🇩🇪 Imagine selling the hardest money on earth #Bitcoin, for something you can print out of thin air.Germany’s govt officials are literal idiots pic.twitter.com/TlWl3Z585E

— Vivek⚡️ (@Vivek4real_) July 9, 2024

But what's happening in Germany isn't a bad investment strategy – it is merely standard procedure that applies to assets confiscated in criminal investigations, an expert said.

"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising," said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. "Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale."

The reason why the wallet belongs to the country's BKA – not Saxony itself – is probably because the police agency was involved in the initial investigation and had the technical know-how to handle such a large amount of bitcoin, he speculated. However, BKA does not have decision-making power and solely acts on instructions from the state.

In most cases, confiscated assets can only be transferred or sold with the proceeds going to the state budget once a judge rules that the state is allowed to do so, which isn't the case in this particular situation. However, states can request to initiate an emergency sale, which could be issued if the asset's value might quickly lose value or is difficult to store, for example, Ante explained.

"In the case of bitcoin, this could at least be argued on the grounds of volatility," he said.

There is evidence, however, that Saxony is trying to sell too much bitcoin at once. On Tuesday, it received $200 million back from some of the exchanges, indicating that there wasn't enough demand to buy such a huge sum.

The post Ripple News: Here’s When XRP Price Is Expected To Rally appeared first on Coinpedia Fintech News

Following the bearish week, the crypto market witnesses a massive altcoin dump. Amidst the crashing altcoins, XRP price broke below the $0.50 psychological mark with an 11% fall last week. XRP fell by 8.44% in July alone, while Bitcoin (BTC) dropped by 8.61%. Despite this, some analysts foresee an imminent market turnaround for XRP if it concludes this month.

What’s really at play?

Timeline for an XRP Price Pump

XRP is currently trading at $0.4354 amidst a bearish trend. The Ripple Effect, a prominent XRP community commentator, identified a crucial technical pattern: a breakdown of a massive triangle in XRP’s price chart. He noted that a weekly close to $0.42 could signal a sharp sell-off. He sets the potential buy targets at $0.12-$0.14 and $0.07-$0.08, calling these levels attractive entry points before an anticipated price pump between 2026 and 2030.

Impact of the Ripple v. SEC Case

Since the case began in 2020, XRP has taken a massive toll on its price regarding whether XRP is a security. A milestone was reached last July when XRP was classified as not a security, bringing optimism to the market. However, the case is now in the remedies phase and could continue until mid-2026, delaying a substantial price pump until the legal uncertainty is resolved. As per the latest update, the jury will conclude the XRP status. 

Mixed Views on Case Resolution

The Ripple Effect suggests the case could drag on until July 2026, impacting XRP’s price timeline. However, Ripple’s CEO, Brad Garlinghouse, predicts the case could conclude by the end of this year, with some industry observers expecting a ruling as early as this month. The case resolution is anticipated to lead to a significant price increase for XRP, emphasizing the importance of investor patience.

Pro-XRP lawyer Fred Rispoli predicts Judge Torres may issue a summary judgment in SEC vs. 

Ripple by month’s end. After 3 years, a resolution is near. Ripple’s recent filing strengthens their case. The XRP community awaits the verdict by 7/31, though Rispoli humorously suggests 7/13. 

Current Scenario

Meanwhile, XRP expects a massive surge in July as the case might close this month. Blockchain tracker WhaleAlert has revealed a substantial transfer of 37.39 million XRP tokens—equivalent to roughly $16.06 million—from a large XRP holder to Bitstamp, a prominent crypto exchange. This large XRP whale dump suggests a waning of bullish sentiment regarding the SEC case settlement.

While the broader crypto market remains down, could be the trigger point for the whale’s move to mitigate potential losses. XRP is trading at $0.4355, reflecting a 0.68% increase over the past 24 hours.

The crypto community eagerly awaits the end of the SEC vs Ripple battle this month.

XRP has been confirmed to be not a security, yet the final showdown is yet to take place.

Attorney Fred Rispoli expects the battle to conclude on July 13 or July 31.

The crypto community eagerly awaits a verdict in the ongoing legal battle between the SEC and Ripple Labs. The status of XRP has already been confirmed as not a security leading to a win for XRP. Yet the battle still continues. 

The SEC initially sought a hefty $2 billion penalty and an injunction prohibiting XRP sales to institutional investors. In contrast, Ripple proposed a much smaller $10 million penalty. 

Pro-crypto lawyer Fred Rispoli predicts the end of the battle on July 13 or July 31.

July 31, although I could see her doing July 13 to be poetic.

— Fred Rispoli (@freddyriz) July 2, 2024

XRP holders expect Ripple to make a massive surge in price value that could push XRP to incredible price highs. In fact, one analyst expects XRP to make a 3853% price surge towards the $17 price high.

Ripple’s Rejection and Market Impact

Ripple rejected the SEC’s offer to lower the proposed penalty to $102.6 million recently. This move could have significant repercussions for both Ripple and XRP. 

The company has already spent over $200 million on legal fees which highlights the high stakes involved. Meanwhile, XRP’s price remains suppressed compared to other major cryptocurrencies like Bitcoin and Ethereum.

Investors are closely watching Judge Analisa Torres’s ruling. If she rules A favorable ruling could set a precedent and limit unfair actions against crypto firms. Conversely, an unfavorable ruling may further dampen XRP’s prospects. 

XRP Price Outlook

Despite the uncertainty, XRP’s price shows signs of bottoming out around $0.45. The token might capitalize on bullish indicators and potentially surge above $0.5 should sentiment improve. However, the ultimate price trajectory hinges on the court’s decision.

Some optimistic scenarios suggest that a favorable ruling could propel XRP back toward its all-time high of $3.40 and even beyond, possibly reaching $10 or more. Conversely, a negative outcome may keep XRP’s price subdued.

Read Also 

Hinman Emails Reveal XRP Doesn’t Satisfy Howey’s Security Test

eBay’s Digital Wallet Reveal Reopens Crypto Case

CryptoQuant CEO: Whales Began Accumulating Bitcoin on Binance

Shiba Inu Shows Streak for a Positive July: Will 2024 Follow the Trend?

Arbitrum Has an Exceptional Month of July, Here Are The Facts

The post SEC vs. XRP Battle Could Conclude on July 13 or July 31, Where Will XRP Price go? appeared first on Crypto News Land.

Spot Ethereum ETF Nears Launch As Issuers Submit Amended Filings

Several asset managers have submitted amended filings to the SEC for the spot Ethereum ETFs. VanEck submitted an amended registration statement for its spot Ethereum ETF, now rebranded as The VanEck Ethereum Trust. Following closely, 21Shares filed a new registration for its spot Ethereum ETFs. Grayscale also joined the fray with two amended filings: one for its $28 billion Grayscale Ethereum Trust and another for a more cost-effective "mini" ETF.

The wave of filings continued with Franklin Templeton, Fidelity, and BlackRock each submitting their own amended filings for spot Ethereum ETFs. Notably, none of the filings disclosed planned fees, a detail that Bloomberg ETF analyst Eric Balchunas noted the SEC has not yet required. Balchunas suggested that another round of updates including fees is expected before final approvals, predicting a potential approval date around July 18th.

VanEck's amended registration statement saw some regulatory language regarding custody removed. This deleted section had previously described how Ethereum withdrawals would be processed through the entity designated to safeguard assets for the fund. These changes mirrored adjustments made by Bitwise the previous week, which included details on the SEC's stance regarding compliance in the crypto market.

VanEck’s filing also highlighted Gensler's call for federal legislation focused on digital asset trading to prevent transactions, products, and platforms from "falling between regulatory cracks." Similarly, 21Shares’ amended filing included disclosure language on the SEC’s regulatory efforts.

Despite the SEC approving several key filings for spot Ethereum ETFs in May, the regulator still needs to approve S-1 forms from eight asset managers. Gensler has previously stated that the approval process hinges on asset managers' ability to provide full disclosures.

How to Manage Risk When Trading Cryptocurrency All You Need to Know
Trading cryptocurrency can sometimes carry risks, especially for new traders. But there are ways to manage risks and become a smarter investor.

Cryptocurrencies are often considered to be volatile and trading them can sometimes be risky. The crypto market has also been known to experience price swings, and like every other investment, there is the chance your investment may sink in value, irrespective of how sure-shot things may seem. That said, risk management is undoubtedly one of the most important aspects of investing in cryptocurrencies.
Here are some ways to manage crypto risk.
Only invest what you can afford to lose
As with any investment, you should never invest more than you can afford to lose. This rule applies to all markets and even more so to cryptocurrencies, which can experience double-digit losses in a span of hours.
There’s no doubt that cryptocurrencies have turned several early investors into millionaires. But at the other end of the spectrum, they have left a number of novice investors in financial peril. Apart from the fact that these assets can quickly lose their value in response to ever-changing government policies, crypto trading platforms can fall victim to a hack or shutdown operations.
In 2021, dozens of people in Singapore filed police reports against a crypto trading platform called Torque. A rogue employee of the company reportedly performed unauthorized trading activities that led to significant losses and customers were restricted from using the platform.
Optimism can affect rational decision-making during market peaks, but it’s important to avoid getting caught up in the hype cycles and unsubstantiated promises. Think before investing your life savings or selling a property to buy crypto.
Move your crypto assets into cold storage
You’ve probably heard this saying from crypto folks: “Not your keys, not your coins.” Storing your assets on a centralized exchange can come with a number of risks, like site crashes, hacks and even bankruptcy. Crypto platform FTX halted withdrawals and filed for bankruptcy in November 2022, dragging much of the crypto industry down with it as it crumbled.
Transferring crypto assets to a cold storage device can mitigate some of the risks associated with trusting a centralized exchange to safeguard your funds. To clarify, a cryptocurrency exchange holds your private keys and therefore controls your assets. Cold storage, on the other hand, gives you full custody over your assets. Moreover, cold storage devices are not connected to the internet, which drastically decreases the ability of hackers and cybercriminals to access your funds. Some of the most popular cold storage devices are hardware-based and come from companies like Ledger and Trezor.
Hedge your crypto portfolio
Hedging has long been used in traditional financial markets as a form of risk management. It involves buying or selling an asset to potentially help reduce the risk of loss of an existing position or adverse price movements in an asset.
It is worth mentioning that although hedging allows you to protect your investment from adverse market swings, it also limits the potential gains from your crypto investment. Nevertheless, this is a better option than losing a significant portion of your investment.
There are several ways to hedge your crypto portfolio, such as dollar cost averaging, buying options, futures and even yield farming.
The “Dollar Cost Averaging” (DCA) strategy is one of the simplest ways to hedge a crypto investment. It entails incrementally buying or selling crypto at regular intervals rather than deploying capital in one large purchase or selling one’s entire holdings at once.
For example, let’s assume you have $1,000 to invest in Bitcoin. Instead of purchasing $1,000 worth of Bitcoin in one fell swoop, you can split your investment into $250 every week spread across a month. While you might lose some potential gains if the price of Bitcoin shoots up after your initial purchase, you’d have also saved yourself from potential losses if the price crashes.
Diversify your portfolio
When it comes to crypto or any other investment, avoid putting all your eggs in one basket. In May 2022, the price of algorithmic stablecoin terraUSD (UST), which was supposed to be pegged to the U.S. dollar, fell to 35 cents. A few days later, its accompanying cryptocurrency, LUNA, plunged from $80 to a few cents.
Do not invest in only one cryptocurrency, regardless of your conviction. Instead, spread your investment across several digital assets. You can diversify your crypto holdings by investing in projects based on their use case or technology. For instance, Bitcoin has been touted as a store of value and might be a good way to preserve wealth. Ethereum, on the other hand, has become the largest platform for decentralized applications and smart contracts. Meanwhile, a stablecoin’s value is pegged to an underlying asset, making it typically less erratic than other digital assets. It’s good to remember that there are hundreds of cryptocurrency projects trying to achieve different things.
Avoid excessive leverage
This is more of an advanced tip, but you’d be shocked at the number of beginner traders that try to margin trade. Margin is used to increase the order size and gives you the option of going long or short. Some crypto exchanges may offer leverage as high as x100.
While the idea sounds good in theory, a 1% move against you could wipe out your entire portfolio. You could lose your entire principal during a forced liquidation.
A safer approach would be sticking to lower leverage amounts, which provide more room to not only increase your gains but also a buffer zone to exit a bad trade.
The Importance of Risk Management in Crypto Trading 
Risk management is the foundation of successful crypto trading. Like any other business, crypto trading requires careful planning and execution of strategies to protect your capital from significant losses. In the crypto market, where prices can be highly erratic, improper risk management could be the thing that separates you from financial independence. In contrast, proper risk management could help you increase profits and limit losses. Therefore, risk management in crypto trading is crucial for the following reasons:
 
Preserving Capital: Effective risk management ensures your losses are minimal, predictable, and part of the strategy rather than a black-swan event that wipes your account.Emotional Control: It helps you remain calm and rational, preventing impulsive decisions driven by fear or greed.Sustainability: Proper risk management allows you to sustain your trading activities over the long term.

Best Risk Management Strategies When Trading Crypto 
When applied wisely, risk management strategies can help crypto traders mitigate potential losses and improve their overall trading outcomes. Here are some popular strategies to manage the risks in crypto trading: 
Choose a Reliable Crypto Trading Platform 
One of the first steps when embarking on your crypto journey is selecting a reliable platform to buy, sell, hold, or use your crypto assets. Choosing a reputable and secure cryptocurrency exchange is one of the most fundamental risk management strategies for crypto trading. 
Look for exchanges with a strong security and regulatory compliance track record, such as Binance. For instance, Biannce has multiple security layers that protect you from potential losses due to security breaches. In addition, having been a key player in the industry for more than six years, Binance has a global user base spanning millions of users, offers deep liquidity, and a wide variety of crypto gems to discover and trade. 
Pick a Secure Storage Option to Hold Your Crypto Assets 
 Store your crypto assets securely based on your needs. For long-term storage, consider hardware wallets like Ledger or Trezor. These devices provide an extra layer of protection against online threats. Use hot wallets with two-factor authentication (2FA) enabled for smaller amounts.
Pick the safest way to store your cryptos. 
Do Your Own Research (DYOR)
Always research a cryptocurrency thoroughly before investing. Analyze its technology, use case, team, and community support. For instance, before investing in Bitcoin, understand its decentralized nature and potential as a means of exchange or store of value. 
Analyzing a cryptocurrency involves three aspects, namely:
Fundamental analysis, where you should explore the inner workings of a cryptocurrency.Technical analysis, where you should explore the price metrics of a cryptocurrency, its upside potential, and its overvalued or undervalued appearance. Sentiment analysis, where you should explore the sentiment surrounding the cryptocurrency.
Determine Position Sizing 
Determine how much of your capital to allocate to each trade. Use the 1-2% rule, meaning never risk more than 1-2% of your total portfolio on a single trade. This protects your capital in case of adverse price movements.
The possibility of making significant returns in crypto trading persuades traders to spend 30%, 50%, or even 100% of their trading capital. However, this is a risky decision that could jeopardize your finances. According to the golden rule, never put all your eggs in one basket.
Ready Your Entry and Exit Strategies 
Have clear, well-defined entry and exit points for your trades. For example, you might enter a trade when a cryptocurrency breaks above a particular resistance level and exit when it reaches a predetermined profit target.
Common Risk Management Mistakes in Crypto Trading
Learning from your mistakes in the past is an excellent but costly approach to success. Crypto trading, like any other type of trading, is based on clear ideas and strategies that all crypto traders, particularly newcomers, must adhere to.
If you are new to purchasing or trading cryptocurrency, the following are some common mistakes that traders make that you should avoid:
Trading Without a Strategy and Goal: Trading without a clear plan can lead to losses. Consider your profit goals, risk tolerance, and investment timeline when developing a strategy.Short-term Planning: The cryptocurrency market is highly volatile. It's often more beneficial to consider long-term investments.Excessive Diversification: Over-diversification can lead to holding many underperforming assets. Diversify only when you understand the fundamental principles of different types of investments.Using a Non-reputed Cryptocurrency Exchange: New traders should choose a dependable, trustworthy, and secure exchange. The components of trust and security are often overlooked.Lack of Fundamental and Technical Analysis Knowledge: Trading without understanding market fundamentals can lead to losses. We recommend you learn the market's fundamental and technical analysis before starting to trade.Investing Money You Can't Afford to Lose: Cryptocurrency is highly volatile, and the risk of massive losses accompanies incredible profits. Be aware of the risks involved and plan for the worst-case scenario.
Closing Thoughts  
In conclusion, mastering risk management in crypto trading is not an option; it's a necessity. The crypto market's wild swings can be lucrative but can also wipe out your investments if not managed properly. You can confidently navigate this thrilling but treacherous landscape by diversifying, sizing your positions sensibly, setting stop losses, and regularly reviewing your portfolio.

Luxembourg-based cryptocurrency exchange Bitstamp has puzzled the XRP community with a mysterious post that shows the XRP logo superimposed onto a full moon.

Alongside the picture, the exchange posted a caption that reads, "I took this picture of the moon last night."

Within the crypto jargon, "to the moon" is one of the most overused phrases, alongside its various derivatives. The phrase indicates extreme bullish sentiment, with market participants anticipating rapid price appreciation.

The origin of the phrase is rather unclear since it is not unique to the crypto space, but it is believed that it was first used within this specific context in a post on the legendary Bitcointalk forum all the way back in 2013.

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In December 2020, Bitstamp became the first major cryptocurrency exchange to suspend XRP trading due to Ripple's legal troubles with the U.S. Securities and Exchange Commission. However, it relisted the token after Judge Analisa Torres ruled that secondary XRP sales were not securities last July.

"Mooning" is likely a foreign concept for XRP holders, considering that the token has been mostly underperforming the broader market over the past year. Following a brief rally fueled by the Torres ruling, it has failed to see any semblance of bullish momentum. The token is still down 87% from its all-time high that was logged in early 2018.

It is worth noting that Ripple acquired a stake in the world's longest-running exchange last year in order to diversify its businesses and boost Ripple's international standing. 

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Recently, Bitrue, a pro-XRP exchange, stirred some controversy after explicitly telling its users to go all-in on the Ripple-affiliated token amid a market correction.

In other news, commission-free Robinhood announced that it would acquire Bitstamp in 2025.

Pro-XRP lawyer Fred Rispoli, founder of HODL Law, has made an epic prediction about when Judge Analisa Torres will issue a summary judgment decision in the U.S. Securities and Exchange Commission (SEC) vs. Ripple lawsuit.

Rispoli indicated that after over three years of legal proceedings, the protracted legal dispute could see a potential resolution by the end of this month.

High-Stakes XRP Lawsuit To End This Month?

With crypto market commentators and XRP investors alike anticipating the verdict in the longstanding case between Ripple and the SEC, attorney Fred Rispoli has speculated a potential end date for the lawsuit.

In a recent post on X, Rispoli noted a recent filing, specifically Ripple’s Notice of Supplemental Authority, citing the recent ruling by Judge Amy Berman Jackson in the United States Securities and Exchange Commission v. Binance case. Judge Jackson’s ruling strengthened an earlier precedent set in SEC v. Ripple by New York Judge Analisa Torres, which established that the sale of XRP on exchanges and through algorithms did not satisfy the SEC’s criteria to qualify as an investment contract.

Rispoli opined, “Just got a notice of a filing in SEC vs Ripple case, and my heart skipped a beat…but don’t worry, no ruling just yet. It was Ripple’s notice to Judge Torres of the Binance decision last week.”

Ripple has contended that similar to the Binance lawsuit, sales of XRP on secondary markets did not constitute securities sales under US federal laws. Ripple also pointed to the lack of regulatory clarity to bolster its argument against the securities regulator.

When asked by an X user going by the online moniker Crypto Moon Amsterdam when he expects Judge Torres’s verdict to come in, Rispoli responded:

“July 31, although I could see her doing July 13 to be poetic.”

The prominent attorney is referring to the momentous date of July 13, marking the anniversary of the landmark 2023 ruling by Judge Torres, which gave the XRP price a shot in the arm.

Ripple and the SEC have been in the remedies phase, with the agency asking a New York judge to impose a nearly $2 billion fine against the San Fransciso-based blockchain payments startup. The SEC recently considerably slashed its request to $103 million — but Ripple maintains the civil penalty should be no more than $10 million.

As of press time, XRP was changing hands at $0.4257, marking a 1.6% drop on the day.

FET token holders face a Monday deadline to participate in the ASI Merge Migration Queue.

FET trading volume surged 38.58%, but the token experienced recent price volatility.

Despite bullish sentiment, significant long position liquidations have occurred.

FET token holders on decentralized Ethereum wallets face a critical deadline to participate in the ASI Merge Migration Queue or risk liquidation, prompting increased trading activity and price volatility for the Fetch.ai project’s token.

As highlighted by Fetch.ai on its official X (formerly Twitter) account, the deadline is fast approaching; Monday, and failure to participate could lead to liquidation. This urgency has driven significant activity in the FET market, reflected in recent price movements and trading volumes.

As of writing, FET is trading at $1.20, showing a modest increase of 0.42% in the past 24 hours. This price action comes with a notable rise in trading volume, which spiked by 38.58% to $162,448,947, indicating increased trading activity. The market capitalization also rose by 0.42% to $3,024,743,486, reinforcing positive sentiment.

In the latest price trend analysis, FET experienced a recent high of approximately $1.1964 before experiencing a significant drop. However, the price found strong support around $1.05, demonstrated by a quick recovery after dropping to this low point. The current price of $1.20 is just above the previous resistance level of $1.1964, suggesting a new support level and potential bullish momentum.

The key support level for FET is around $1.05, and the immediate resistance is near $1.1964. Since the current trading price is $1.20, this suggests a possible breakout, with a chance of establishing new support at this level. If the bullish trend continues, future resistance levels could be around psychological benchmarks like $1.25 and $1.30.

According to Coinglass data, trading volume for FET derivatives has risen by 24.73% to $143.06 million, yet open interest has decreased by 3.38% to $31.67 million. The long/short ratio over the past 24 hours is 0.9294, showing a slight dominance of short positions.

The FET long/short ratio is a bullish 2.6258, with top traders also showing strong bullish sentiment. Despite this, long positions have faced significant liquidations, with $316,860 liquidated in the past 24 hours, including $289,210 from long positions.

The post Last Chance for FET Holders: Don’t Miss the ASI Merge Migration Deadline appeared first on Coin Edition.

Solana Firedancer Client $1M Bug Bounty Begins This Week

YEREVAN (CoinChapter.com) — Solana developers have a new opportunity to earn up to $1 million by finding bugs in the “Firedancer” validator client. This bug bounty program begins on Wednesday and offers substantial rewards for critical bug discoveries.

$1M Firedancer Bug Bounty by Jump Crypto

Jump Crypto is offering the bug bounty program and it is being hosted on the Immunefi platform. The program will run for 42 days from July 10 to August 21. The total rewards pool is $1 million, with the maximum payout for a single bounty set at $1 million, paid in USD Coin (USDC).

Boost Your Skills: Firedancer Bug Bounty. Source: @CantelopePeel

Participants must register and complete Know Your Client (KYC) details to join the program. Bugs found on Firedancer v0.1 will be reviewed within 24 hours on weekdays. This is the first bug bounty program specifically for Firedancer.

Enhancing Solana’s Network Performance

Firedancer, developed by Jump Crypto’s engineer Cantelope Peel, aims to improve Solana’s network performance. As an independent validator client, Firedancer processes transactions and builds blocks on Solana’s $60 billion network.

Firedancer is designed to address issues with Google’s QUIC protocol. The protocol has had difficulties processing transactions during high network activity. Peel and his team are actively testing the first versions of Solana’s consensus and fork choice algorithms. Peel mentioned,

“We are also working on live voting and various other little bits around that.”

Firedancer Update: Testing and Progress. Source: @CantelopePeel Firedancer’s Development and Key Milestones

Notably, the Firedancer project began on January 30, 2023. It was first tested on a Solana testnet in November 2023. The client is implemented in C and C++ languages to handle high trading volumes. Solana Labs co-founder and CEO Anatoly Yakovenko noted that Firedancer can increase the speed of the Solana network.

Peel proposed a similar version of Firedancer for Ethereum in March, but no significant developments have been reported since.

At press time, SOL traded at $139.

Solana ETF Filing Impact on Price. Source: CoinMarketCap

The post Solana Firedancer Client $1M Bug Bounty Begins This Week appeared first on CoinChapter.

Ripple’s XRP has experienced significant whale movements in the past 24 hours, coinciding with the critical juncture in the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). This activity has sparked speculation of further whale movements as the case nears its conclusion.
XRP Whale Shifts 37M Tokens
According to Whale Alert, a notable XRP whale transferred 37.39 million XRP tokens, worth approximately $16.06 million, to the Bitstamp crypto exchange from an unknown wallet. This large transaction comes ahead of the expected resolution of the Ripple vs. SEC case.
Legal Insights and Case Timeline
Fred Rispoli, a prominent advocate for Ripple, has provided insights into the potential end dates for the ongoing SEC vs. Ripple case, suggesting that the case could be resolved by either July 31 or July 13. The latter date is particularly significant as it marks the anniversary of a crucial ruling by Federal Court Judge Annalisa Torres.
On July 13, 2023, Judge Torres concluded that XRP is a commodity when sold to the general public. In her Summary Judgment, she stated, “Therefore, having considered the economic reality and totality of circumstances surrounding the Institutional Sales, the court concludes that Ripple’s Institutional Sales of XRP constituted the unregistered offer and sale of investment contracts in violation of Section 5 of the Securities Act.”
This decision was a landmark moment for Ripple, leading to a surge in XRP’s price by over 100%. It also set a precedent influencing other legal battles in the cryptocurrency space. Recently, Judge Amy Berman Jackson of the US District Court for the District of Columbia dismissed some SEC charges against Binance, pertaining to the sales of BNB tokens on the secondary market. Judge Jackson ruled that the SEC failed to allege facts indicating that secondary market sales of BNB tokens were securities transactions. She also denied the SEC’s claim that Binance’s fiat-backed stablecoin, BUSD, qualifies as an investment contract.
Ripple's Defense Strategy
Ripple has leveraged Judge Jackson’s ruling to strengthen its defense, highlighting the regulatory uncertainty in the crypto industry. Ripple argues that it did not act with "reckless disregard" for the law due to this ambiguous regulatory environment.
Market Reaction and Analysis
Despite these legal developments, the XRP whale’s recent exchange dump indicates a waning bullish sentiment towards the SEC case settlement. The cryptocurrency market is experiencing a downturn, with XRP prices dipping nearly 4%. This whale movement might be an attempt to limit losses.
XRP has struggled to maintain its position above the critical $0.4250 resistance zone. Currently, XRP is trading below both the $0.4250 mark and the 100-hourly Simple Moving Average (SMA), reflecting a bearish market sentiment.
An analysis of the XRP/USD hourly chart shows a bearish trend line with resistance around $0.4250. For XRP to initiate a significant recovery, it needs to break through this resistance, but it faces additional hurdles at $0.4350 and $0.450, limiting its near-term upside potential.
Today, XRP managed to surpass the $0.4220 level despite the bearish trend, with the next target being the $0.4380 mark. Beyond this, the $0.450 level stands as a formidable resistance point. Any gains above this could potentially propel the price toward the $0.4650 resistance. However, current technical indicators do not support such a bullish scenario.
Recent trading sessions have seen XRP fail to overcome the $0.450 resistance, triggering a fresh decline. This pattern mirrors the price movements of Bitcoin and Ethereum. As bears dominate, XRP has dropped below critical support levels, including $0.4320 and $0.4250.
$XRP #XRP #Ripple

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Notcoin (NOT) has exploded onto the scene this year, turning mindless screen tapping into a digital gold rush.

This TON blockchain newcomer started as a viral crypto game but has quickly become a serious altcoin.

And investors are now wondering: Can NOT breach its all-time high and hit $0.1 before the end of 2024?

Notcoin – The Tap-to-Earn Crypto Sensation

Notcoin made its mark through a combo of simple gaming mechanics and blockchain tech.

What started as a “Tap-to-Earn” game on Telegram quickly snowballed into a viral phenomenon – amassing over 35 million users at its peak.

The game’s native token, NOT, briefly flirted with a $3 billion market cap in early June.

This coincided with NOT hitting an all-time high price of $0.0289.

However, since June’s high, NOT’s value has been all over the place.

NOT took a nosedive throughout June and early July, eventually settling at a low of $0.0091.

It represented a 68% drop in NOT’s price in just one month.

But investors aren’t counting it out just yet since the token has shown signs of life in the past few days.

Since Friday’s low, NOT has rebounded by a whopping 65%.

Spot trading volumes have also rocketed, indicating investors might be gearing up for another rally.

Can NOT Hit $0.01 Before the End of the Year?

Can Notcoin leap to $0.1 by the end of the year?

Let’s crunch the numbers: It would take a 557% jump from today’s price of $0.0152.

Sure, NOT has had a rally like this before, but that was when it was just a small token.

Even its all-time high of $0.289 was still a far cry from the $0.1 mark.

But here’s where things might get interesting.

Notcoin’s team isn’t idly sitting by – they have ambitious plans for the future.

These plans include shifting from Tap-to-Earn to a new “Explore-to-Earn” model.

They’re also cooking up staking opportunities, discussing new crypto games, and even talking about onboarding the next 300 million people into Web3.

So, can NOT actually hit $0.1 in 2024?

Notcoin’s team is aiming high, but the climb to $0.1 is a bit of a long shot – and it’s made more challenging given the current market conditions.

However, if the rebound continues and the team’s new initiatives gain traction, there might be scope to return to June’s all-time highs before the end of the year.

Which Other Gaming Cryptos Could Rise in 2024?

While Notcoin’s journey has been exciting, it’s not the only gaming crypto drawing attention.

Let’s shift our focus to PlayDoge (PLAY) – a project that combines memes, nostalgia, and Play-to-Earn mechanics in a unique way.  

PlayDoge Unleashes Nostalgia on the Crypto Market & Raises $5.4M in Presale

PlayDoge has the charm of Doge memes with a nostalgic nod to the Tamagotchis of the ‘90s.

It’s not just a meme coin – it’s a comprehensive crypto-gaming ecosystem.

Currently in presale, PlayDoge has raised over $5.4 million in funding, with early investors able to snag PLAY tokens for $0.00516 each.

However, this price will rise over time, thanks to the presale’s tier-based structure.

So, why all the early hype?

Imagine this: You wake up, grab your phone, and are greeted by your very own digital Doge pet.

This pet needs feeding, training, and playtime – with every interaction netting you PLAY tokens as a reward.

If you care for your pet successfully, you might just end up on PlayDoge’s monthly leaderboard, which will net you more PLAY.

But be careful.

If you neglect your Doge pet, it might run away, forcing you to start over.

It’s a blend of retro vibes and crypto rewards that hasn’t been seen before in the crypto market.

And it’s all underpinned by a built-in staking protocol offering estimated annual yields of 104%.  

No wonder over 9,300 people have opted to join PlayDoge’s Telegram channel.

With all this positivity, there’s real potential for PLAY to match Notcoin’s rise earlier in the year – and potentially even beat it.

Visit PlayDoge Presale

Crypto market took a big hit last week $BTC Alone did a 15% drop. The fear is now taking over as Altcoins market is down over 50% on average since the last peak.
Will the market continue to push down or the worst is over? This is what we will discuss in this article. We will have a look at Bitcoin weekly chart and see what we can expect based on my observance.
Before we Dig into current price action let me share what I said in my last BTC update.

In my last Bitcoin update i mentioned i have not seen BTC doing what it is doing right now in the last 3 bull runs. i Also mentioned that $59-60k zone will be a key zone to hold for bulls on weekly scale.
Last week we saw price broke under $59k and dipped down to $53600
Now Lets take a look at what we can expect next based on charts.
BTCUUSD (Weekly)

Without any doubt Bitcoin clearly broke below the range it was forming for the last 16 weeks. Not being a bias trader we need to accept that the structure on the weekly is broken unless we see the price bounce back above $60k and holds.
What can we expect?
As long as we don't see price bounce back above $60k on the weekly closing basis, You can expect more down side from BTC. The next closet zone we have on the weekly chart is an area between $45k- $51900.

Bitcoin dipping down to this zone can represent a great opportunity to slowly buy if the zone comes.
What is the scenario if price doesn't drop?
For every trade plan there is an invalidation level and just like that if BTC moves back above $60k and it holds up there. This will likely indicate that bears should not expect more downside and flip their bias.
Something like this lets say. 👇

A weekly close back inside the broken range will make this a fake out and price will start to push higher.
BTCUSD (Daily)

When the high timeframe is bearish lower timeframes will always provide bounce in between specifically when everyone starts calling for lower price. Whales take the opportunity to liquidate them. After weekly candle close there were multiple posts people were calling for lower prices and it's always favor the MM's to run the market into opposite direction.
Looking at the daily chart you can clearly see the price is trading below the key daily support and in my opinion this current bounce in market changes nothing.

As long as we don't see this happen i'll be on the bears side. I do not have any reason to be bullish on $BTC knowing the fact that we have a weekly consolidation break down.
I mentioned the invalidation plan as well. I will wait for a better trader opportunity based on weekly scale.

I hope you learned something from this update and i would love to read your thoughts on BTC as well. Let me know what you think.

During the market decline, JasmyCoin has dropped 16% in the last week, but analysts remain optimistic about an upcoming price increase. The crypto market faces a severe downturn, with Bitcoin’s price dropping to $55,000.

Navigating such a dip is challenging, but altcoins that recover swiftly demonstrate strong resilience in the market. $JASMY experienced a significant rally following misinterpreted news of a partnership with Apple. However, the ensuing hype led to a sell-off, which was worsened by Bitcoin’s current decline.

With Bitcoin holding a market dominance of 53.22%, its volatility impacts most altcoins. Analysts are now examining $JASMY’s chart to predict the next steps for this rapidly growing altcoin.

$JASMY Price Prediction

Currently, JasmyCoin is priced at $0.0229 with a 24-hour trading volume of $299.23 million and a market cap of $1.13 billion. Over the past 24 hours, $JASMY’s price has decreased by 3.50%. The Relative Strength Index (RSI) is at 39.72, indicating a neutral market stance.

Despite the significant drop in value, $JASMY is still trading above the 200-day simple moving average (SMA) of $0.0176. The key resistance level for JasmyCoin is at $0.259, and breaking above this is essential for continued bullish momentum.

However, it’s more likely that JasmyCoin will encounter resistance, leading to consolidation and a potential drop below $0.205. The future price of JasmyCoin largely hinges on maintaining positive momentum, which is closely tied to broader market trends, especially Bitcoin’s performance.

For in-depth JasmyCoin price predictions, view the video above and subscribe to his YouTube channel. Additionally, join Jacob Crypto Bury’s Discord channel for trading insights and updates on upcoming crypto presales.

Binance Investors Bullish on Jasmy Coin with 127 Million Coin Purchase

Over the past five days, Binance has seen a massive purchase of 127 million $JASMY coins, indicating strong investor interest and confidence. This surge in buying on Binance may signal growing recognition of JasmyCoin’s potential to transform data handling and monetization.

The increased purchases could stem from heightened awareness and appreciation of JasmyCoin’s unique market value. Substantial acquisitions like these typically suggest that investors anticipate significant growth or positive changes ahead.

These major buy-ins often precede notable price increases and heightened market activity. Investors expecting upcoming developments or strategic partnerships could drive the coin’s value higher.

PlayDoge Presale Surpasses $5.4 Million Milestone

In the volatile world of cryptocurrency, uncertainty always looms. However, amidst this backdrop, the significant surge in purchases stands as a promising sign for the future of Jasmy coin.

Investors and market observers are also closely monitoring PlayDoge, a new entrant in the play-to-earn (P2E) meme coin arena, which recently achieved a noteworthy milestone with its ongoing presale surpassing $5.4 million.

Currently priced at $0.00516 per PLAY token, many investors see this as an opportune moment to accumulate before potential future price increases. The presale accepts purchases in $BNB, $ETH, $USDT, and fiat currencies. Potential investors can visit our guide on how to buy $PLAY token here.

PlayDoge introduces a novel concept inspired by the 90’s virtual pet craze, where users can earn cryptocurrency by nurturing their virtual Doge companion in retro 2D-pixel art reminiscent of the Tamagotchi game.

The more care users invest in their pets, the greater their rewards in PLAY tokens, amplified by an incentive-driven leaderboard. Additionally, players can stake their $PLAY tokens, yielding attractive annual percentage yields (APYs) of up to 104%.

Source – PlayDoge Twitter

The presale’s success is evident, with over 180 million $PLAY tokens staked thus far, emphasizing community engagement. With a total token supply capped at 9.4 billion, half allocated to presale participants, PlayDoge ensures substantial community involvement.

Furthermore, 12% of tokens are earmarked for staking rewards, incentivizing long-term investor commitment. SolidProof’s audit of PlayDoge’s smart contracts has bolstered investor confidence, affirming the project’s security and reliability.

This aligns well with the playful ethos of the meme coin market, as evidenced by the increasing interest in the $PLAY presale, underscoring P2E’s growth potential. With early momentum unabated, PlayDoge appears poised to emerge as a standout meme coin launch of 2024.

For the most recent updates on the PlayDoge presale, follow their X page (formerly Twitter) or join their Telegram channel. To take part in the $PLAY token presale visit playdoge.io.

Related

JasmyCoin Price Prediction for Today, July 6 – JASMY Technical Analysis

5 Best Cheap Crypto to Buy Under 1 Dollar – Cat in a Dogs World, JasmyCoin, Ethena, Wormhole 

New Dog-Themed Meme Coin With P2E Elements PlayDoge Tops $5m In Parabolic ICO

Biaoqing Price Prediction: BIAO Plummets 21% As Traders Pivot To Tamagotchi Remake PlayDoge And Its 126% APY

Bitcoin Spot ETFs Saw $143M in Inflows, Highest in a Month

Data from Farside Investors revealed that US spot Bitcoin ETFs experienced their highest net inflows in a month, with $143.1 million pouring in on July 6. This influx occurred after Bitcoin's price dipped below $54,000, indicating that investors saw the lower prices as a prime buying opportunity.

Despite recent market volatility, the significant inflows into these ETFs suggest that institutional investors and large-scale buyers are capitalizing on the dip in Bitcoin's price to accumulate more BTC at reduced prices.

Leading the pack was the Fidelity Wise Origin Bitcoin Fund (FBTC), which attracted $117 million. The Bitwise Bitcoin ETF (BITB) followed with net inflows of $30.2 million. Additionally, the ARK 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust (HODL) recorded inflows of $11.3 million and $12.8 million, respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $28.6 million.

Hunter Horsley, CEO of Bitwise Asset Management, emphasized his team's efficiency in acquiring Bitcoin at a cost of less than half a basis point. He also noted the strong outlook for Bitcoin, portraying the current market conditions as an advantageous buying opportunity for both new and existing investors. "The outlook for Bitcoin has never been stronger. For many who don’t yet have exposure, this week is a chance to buy the dip," Horsley stated. During the first week of July, the Bitwise Bitcoin ETF (BITB) registered inflows exceeding $66 million, boosting its total Bitcoin holdings to over 38,000 BTC.

The recent dip in Bitcoin's price, which fell to a five-month low of $53,905, was influenced by a few factors, such as the German government's BTC liquidations, and reimbursement of Bitcoin from collapsed crypto exchange Mt. Gox. The exchange transferred 47,229 Bitcoin, worth approximately $2.71 billion at current prices, to a new wallet address in its first significant transaction since May.

The crypto market is experiencing significant selling pressure these days. This turbulence has affected major cryptocurrencies, including XRP, which has dropped to its lowest price point since March 2023.

In response to the community's growing concerns about the price collapse, Ripple's chief technology officer, David Schwartz, addressed the issue by emphasizing XRP's utility rather than its investment potential.

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Schwartz explained that the current price enables users to acquire enough XRP to facilitate a payment for precisely the worth of the cryptocurrency. He stressed that this underscores XRP's primary function as a medium of exchange, which facilitates fast and cost-effective cross-border transactions, despite the market crash.

Some community members, however, expressed dissatisfaction with such comments, accusing the Ripple CTO of deviating from previous statements and manipulating the narrative. Critics pointed out past remarks suggesting XRP's price would not remain low and accused Schwartz of trolling and dishonesty.

Is XRP really investment instrument?

Schwartz then clarified his position, insisting that his recent comments were consistent with his earlier statements. He reiterated that his focus has always been on XRP's functional utility in payment systems rather than its price as an investment asset.

It does not deviate. It expresses precisely the same idea.https://t.co/Vkk1C9b7jh

— David "JoelKatz" Schwartz (@JoelKatz) July 7, 2024

Schwartz's reply aimed to shut down the speculation and reaffirm his stance on the fundamental purpose of XRP.

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Despite the current market challenges, the emphasis on XRP's utility highlights what may be a long-term strategy of promoting it as a practical tool for efficient and affordable international payments.

However, the question arises — is XRP really an investment instrument?

The Smart Money concept means using large capital information to make decisions about the purchase and sale of assets. Large players in the market, such as Central Banks, market makers and exchanges, use their large capital and unique algorithms to set prices for certain levels, achieving their goals and objectives. The analytical work of professional traders is not to use complex indicators, but to recognize traces of smart money in the market using Price Action and Smart Money analysis.

The goal of this course is – to teach you a simple basic trading model based on the concept of Smart Money so that you cease to be liquidity

Who are Smart Money Traders?
Smart Money is a major market participant, such as banks and financial funds, which have a lot of capital and use unique algorithms, to deliver prices to certain levels in accordance with their goals and objectives. The goal for the Smart Money trader is to follow the major players using the markers that they leave in their warrants and market applications. Thus, traders can use these tracks to make decisions about their own market positions.

FOCUSING IN MISDING

First of all, you need to monitor past events on the market, as large participants leave open positions that must be closed, and they must go a certain way. To continue the price movement, banks and foundations perform a certain algorithm of actions that guarantees their success and profit.

WHICH SMOKE CAPITAL LIKES?

Smart money can eliminate not only retail traders, but also other banks and funds that are less experienced. Some large companies can also act stupidly, controlling large sums of money and earning profit from the commissions of their customers and investors.

If everyone starts using the Smart Money concept, then it will not stop working?
Even if all market participants use this approach, manipulation will continue and prices will be tested to close open positions. Smart capital cannot do without it. The concept of smart money is an approach that is used for profitable trading. While money is circulating on the market, the Smart Money concept will work
Benefits of Smart Money
Smart Money is one of the strategies that relies on following major players in the market, such as banks and financial funds. These participants have significant capital and use unique algorithms to achieve their goals and objectives.
One of the benefits of Smart Money is that it allows traders to use information that is not available to the general public. Thus, traders can benefit by following major players in the market who know more than ordinary traders.
In addition, Smart Money Strategy helps to avoid mistakes that other traders often make, such as emotional reactions in the market or too frequent trading. This strategy also allows traders to improve their market position and earn more money.
In general, Smart Money provides traders with the opportunity to use unique information and avoid typical errors, which can improve their market results. However, as with any other strategy, success depends on many factors, including market knowledge, trading skills, and proper risk management.

Despite market volatility, Ethereum (ETH) surged 3.1% to over $3,500, showing remarkable resilience.

Analysts predict Ethereum could rally to $4,723.5 or higher, with a surge to $6,300 by late July 2024.

4lMt Gox sell offs and German dumping caused turbulence, but the market is recovering.

Following a dip in the general crypto market, Ethereum has shown remarkable resilience by regaining footing. The world’s second-largest cryptocurrency by market capitalization has surged by 3.1% in the past 24 hours, bringing its price to just above $3,500. 

$ETH (Ethereum)'s $4,723.5 target goes UNCHANGED, meaning a near +60% upside from here could still take place, and prices may be poised for even more… https://t.co/XXNLUGyvNy

— JAVON MARKS (@JavonTM1) July 5, 2024

This positive momentum comes after the U.S. Securities and Exchange Commission (SEC) dropped its investigation into Ethereum without filing any charges. The SEC’s decision to close the investigation has provided a much-needed boost to the crypto market. 

Investors and traders had been closely monitoring the situation, fearing potential regulatory action against Ethereum. However, the lack of charges has alleviated concerns and allowed ETH to recover.

Despite the recent volatility, Ethereum’s overall performance remains impressive. The price of Ethereum has increased by 13.8%. over the past month. This resilience signals growing confidence in Ethereum’s long-term potential.

Bitcoin (BTC) is trading at $56,744 after gaining by 2.68% in the past 24 hours. The bullish sentiment from traders has contributed to this upward trend amid a 6.9% weekly dip.

Javon Marks, a crypto analyst, believes that Ethereum might rally to $4,723.5 or higher. Additionally, longer-term forecasts for Ethereum are optimistic. 

Some analysts predict a surge to over $6,300 by late July 2024, followed by a temporary dip to $3,700 before rallying to peak above $7,300 in March 2025. 

The Mt Gox anticipated selloffs and German dumping have significantly contributed to the recent crypto market turbulence. However, the market is regaining steadily as the dust settles.

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