Historical net outflows from GBTC amount to $19.6 billion, as per the statistics.

With a current total net asset value of $54.35 billion, spot Bitcoin ETFs have been on a positive note.

Despite withdrawals in early August, demand in spot Bitcoin exchange-traded funds (ETFs) based in the US has persisted. Despite outflows in prior weeks, spot Bitcoin ETFs had a total weekly net inflow of $32.58 million on Aug. 16, according to data from SoSoValue. Net outflow of spot Bitcoin ETFs hit $169 million on August 9 after having dropped to $80.69 million on August 2.

Moreover, despite $72.9 million leaving the Grayscale Bitcoin Trust on August 16, the net inflow for spot Bitcoin ETFs reached $36 million. Although other spot Bitcoin ETFs are regularly receiving inflows of capital, GBTC has been suffering a persistent loss of capital.

Good Inflows Consistently

Historical net outflows from GBTC amount to $19.6 billion, as per the statistics. On the other hand, the Grayscale Bitcoin Mini Trust ETF maintained its total net inflows of $288 million on Aug. 16, as there was no net outflow.

On August 16th, the Fidelity Bitcoin Fund ETF received $61.3 million, which was the largest net inflow. The sum of all net inflows throughout its history now stands at $9.8 billion. On the same day, the iShares Bitcoin Trust ETF, which is managed by BlackRock, also had a substantial net inflow of $20.38 million, raising its entire historical total to $20.38 billion.

With a current total net asset value of $54.35 billion, spot Bitcoin ETFs have been receiving good inflows for some time. There is a current ETF net asset ratio of 4.65%, which shows that the market value of ETFs is 4.65% of Bitcoin’s total market value.

Highlighted Crypto News Today:

WazirX Restores Investor Balances After $234 Million Hack

The withdrawal suspension took place at 1 pm IST on July 18, the day of the hacking.

One of WazirX’s multisignature wallets was the focus of the breach on July 18.

The Indian cryptocurrency exchange WazirX has restored investor balances, almost one month after a huge hack shook the company and stole $234 million from users’ Safe Multisig wallets. Despite these developments, many customers are worried and angry since they do not know when they will be able to withdraw their money.

Updated on August 16th, WazirX said they are focusing on two primary issues. First one is fixing problems with cryptocurrency balances and second one is finding a solution for Indian Rupee (INR) balances. Also, the business is now waiting for confirmation from partners who can help resolve these concerns, and they claim that continued legal examination is necessary for these solutions.

Moreover, the planned maintenance that started at 2 am on August 16 was successfully completed, according to a previous post from WazirX. Earlier, all activities on their platform were temporarily suspended for maintenance.

No Withdrawal Timeline

Following the withdrawal suspension at 1 pm IST on July 18, the day of the hacking, the exchange announced that all trades executed after that time had been reversed. Customers may now see the money in their accounts after this maintenance. Which had been going on for over a month.

Investors are furious because they need their money now. But there is no set date for when they can get it. The situation has taken a turn for the worst as investors were strongly against the exchange’s original plan. For a socialist 55/45 loss-sharing arrangement.

One of WazirX’s multisignature wallets was the focus of the breach on July 18. This wallet held a remarkable $234 million, or more than 45 percent of total investor money. It would be very difficult for WazirX to repay all investor cash with just 55% of customer funds left.

Highlighted Crypto News Today:

Leading Crypto Gainers Spotted Over the Past 24 Hours

It has just achieved a new milestone, becoming the sixth-largest dollar-pegged token.

Now PYUSD is officially ahead of USDD, Tron’s stablecoin.

The cryptocurrency market is mired in neutral sentiment, with only little rebounds sprinkled. The market leader in cryptocurrencies, Bitcoin, has increased its value by about 2% since yesterday, eyeing the $60,000 mark. Nevertheless, today’s main attraction is Paypal USD (PYUSD. A dollar-pegged token that has seen tremendous growth in recent days, occupying the position of the sixth biggest stablecoin.

Popular for international transactions and a variety of payment methods, digital payment service provider PayPal has grown in popularity in recent years. In addition, crypto investors prefer this brand since it is crypto-friendly. Especially, because of the release of PYUSD, a widely used stablecoin that is tied to the dollar.

Substantial Progress

Upon its introduction to the market in August 2023, PYUSD quickly became the center of attention. Not only has it added 500,000 transactions to the network, but it has also been ranked among the top 10 stablecoins. It has just achieved a new milestone, becoming the sixth-largest dollar-pegged token, thanks to an $140.9M increase in its supply in only 10 days.

Now PYUSD is officially ahead of USDD, Tron’s stablecoin, as well as USDB, PAXG, TUSD, and many more in the market. According to Coingecko, all of this occurred during the last month, during which time its market cap increased by nearly 97%.

According to Solscan data, the market worth of this token increased from around $651 million on August 6 to more than $791.6 million on August 17.

Most notably, 56.7% of the minting is taking place on Solana, which is much greater than Ethereum. Given that cryptocurrency exchange Bybit has announced the integration of this token on Solana, this may potentially increase even more.

Highlighted Crypto News Today:

Leading Crypto Gainers Spotted Over the Past 24 Hours

MicroStrategy ETF MSTX has seen a sharp increase in trading volumes.

South Korea’s recent investment in Microstrategy stocks reflects a strong demand for the company’s shares.

MicroStrategy ETF, MSTX, has recently experienced a significant increase in trading volumes. It is driven by the increased volatility in the cryptocurrency and tech markets. Known for its heavy exposure to Bitcoin and tech stocks, MSTX has become a go-to choice for traders looking to capitalise on rapid market movements.

Eric Balchunas, Bloomberg’s ETF Strategist, noted the remarkable performance of the Microstrategy ETF. Highlighted its impressive trading volumes within just two days of its launch. On its second day of trading, MSTX saw $34 million in trading activity, surpassing its initial day’s figures and outpacing other ETFs such as $NVDL, which experienced significantly lower activity in their early days.

The surge in activity comes amid a broader trend of heightened volatility across the financial markets. As cryptocurrencies fluctuate and tech stocks react to economic data and regulatory developments, MSTX has provided traders with opportunities for both quick profits and strategic plays. The ETF’s performance has been particularly notable due to MicroStrategy’s ongoing commitment to Bitcoin, which remains a central component of its investment strategy.

Microstrategy’s Presence in the Market

South Korea’s National Pension Service acquired $33.75 million worth of MicroStrategy shares. This recent acquisition shows the demand for MSTR stocks. 

The newly launched MicroStrategy ETF (MSTX) has been performing strongly in the market since its debut. MSTX is designed to provide 1.75x leveraged daily exposure to MicroStrategy’s stock.

Despite the overall volatility of Bitcoin, MicroStrategy’s stock has outperformed Bitcoin itself in recent months, rising over 70% in the past six months compared to Bitcoin’s 13% increase. This strong performance has likely contributed to the positive reception of the MSTX ETF. 

Highlighted Crypto News today:Investment Advisors Boost BTC ETF Holdings Amid Focus Shift

Bitcoin trades at $59K range, aiding the altcoins to spot as top gainers.

The fear and greed index is at 44, indicating neutral sentiment in the market.

The overall crypto market is briefly in the bullish array. Cryptocurrencies are returning from their lows and priced in green. Moreover, the fear and greed index stays at 44, suggesting a neutral sentiment in the market.

In the past 24 hours, the global crypto market cap has witnessed a minute increase of 0.60% to $2.08 trillion. The total crypto market volume stays at $55.79 billion, which marks a 23.80% decline. Whereas, Bitcoin (BTC) is trading at the $59.2K range, with a 1.44% increase and Ethereum (ETH) has noted a decline of 0.46% at $2.6K. 

As traders are observing the market volatility, some cryptocurrencies have captured the top gainers spot with their performance. Let’s check the top crypto gainers over the past 24 hours. 

Helium (HNT)

In the past 24 hours, HNT has increased by 6.55%, jumping from $6.66 to the current trading price of $7.20, secured first place in the top gainers list. The daily trading volume has spiked by 7% to $27.77 million, as per CMC data. Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. 

Helium price chart (Source: CMC)

HNT’s price hit a monthly high of $7.45, as the token was up by 64.87%. Over the past week, the token has spiked by 6.80%. The key resistance might be found at $8.19 and the nearby support can be at the $6 level. 

dYdX (DYDX)

DYDX has spiked by 3.61% in the past 24 hours. It increased from a low of $1.0009 to $1.07, the price at press time, became second in the gainers list. The token’s daily trading volume is slightly up by 1.33%, according to the CoinMarketCap data. dYdX is a leading decentralized exchange that supports perpetual trading. dYdX runs on smart contracts on the Ethereum blockchain. 

DYDX price chart (Source: CMC)

Over the last week, the token has gained by 2.70%. The low price was noted at $0.9767, and later climbed up to $1.0949. The initial resistance and support might be found at $2.10 and $0.99, respectively. 

Aave (AAVE)

Over the last 24 hours, AAVE surged 2.24% to trade at $111, at the time of writing. The lowest price it traded recently was at $105. Whereas, the daily trading volume is down by 11.93% to $214 million, as per CMC data. This is a native token of the protocol based on the Ethereum network. Aave users can use AAVE tokens to participate in protocol governance and earn staking rewards. 

AAVE price chart (Source: CMC)

The asset has increased by 17.76% over the past week. The asset has climbed from a low of $90.72 to $116. The major resistance might be found at $122 and the significant support can be in the $106 range. 

Disclaimer: The opinions expressed in this article are solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Highlighted Crypto News 

Can Bitcoin (BTC) Climb Up to New High Soon Amid Ongoing Volatility?

Investment advisors increased their Spot BTC ETF holdings by 3% to 9% in Q2 2024.

Hedge fund investments in BTC ETFs declined as funds shifted to BTC futures.

Despite the dip in BTC price, the ETFs saw $2.4 billion in net inflows from institutional investors.

Investment advisors have significantly increased their holdings in Spot Bitcoin ETFs during the second quarter of 2024, while hedge fund investments have slightly declined, according to a recent Coinbase report.

The proportion of institutional investment in Spot Bitcoin ETFs by investment advisors rose by 3% in Q2 2024. Investment advisors now hold 9% of total institutional investments in these ETFs. This data pertains to firms managing over $100 million in assets, which are required to file the 13-F form with the US Securities and Exchange Commission (SEC).

Coinbase anticipates this trend will continue as more brokerage houses complete their due diligence on these funds. The rise in advisor holdings follows a report that Morgan Stanley has authorized its 15,000 financial advisors to recommend spot Bitcoin ETFs to high-net-worth clients. 

Moreover, Coinbase notes that significant inflows into these ETFs might be delayed due to the summer slowdown in the US. Since July 18, Bitcoin’s price has dropped nearly 8.27% currently trading at $59,172 at the time of writing.

Hedge Funds Shift Focus to Futures as Bitcoin ETFs Attract Inflows

In contrast, Hedge fund managers have decreased their holdings in Bitcoin ETFs. This is due to their focus on exploiting price differences between Bitcoin futures and ETFs. The Chicago Mercantile Exchange (CME) saw a 15% increase in Bitcoin futures contracts during Q2 2024, reaching $2.75 billion.

Despite the overall market downturn, the ETF complex saw $2.4 billion in net inflows from institutional investors in Q2. BTC’s price fell from an all-time high of $71,333 on April 1 to $60,888 by June 30, declining about 14.6% for the quarter.

Since the launch of spot Bitcoin ETFs on January 11, 2024, net inflows have totaled $17.35 billion, highlighting continued institutional interest despite market fluctuations.

Highlighted Crypto News Today:Can Bitcoin (BTC) Climb Up to New High Soon Amid Ongoing Volatility?

Bitcoin price is struggling at $60K resistance, up by 1.42% in the last 24 hours. 

BTC has recorded a 24-hour liquidation of $27.97 million.

Despite recent recovery efforts, the largest cryptocurrency, Bitcoin (BTC), seemingly extends losses in the market. Over the past 24 hours, the asset has struggled to clear the $60K level, and a low has formed near $57.5K. 

After a brief rebound, BTC is up by 1.42%, currently trading at $59,269, marking a modest dip. Whereas, BTC’s trading volume is down by 26.55% to $25.47 billion, as per CMC data. 

Besides, the BTC Fear and Greed Index continues to stay at 25, evoking extreme fear in the market. Moreover, Bitcoin has recorded a 24-hour liquidation of $27.97 million, as per Coinglass.

Over the past 24 hours, the US spot Bitcoin ETFs recorded an inflow of $36.01 million, according to Sosovalue data. And in the last seven days, Bitcoin spot ETFs had a net inflow of $32.58 million.

Recently, Franklin Templeton, an asset management firm, filed to launch a new exchange-traded fund (ETF), ‘Franklin Crypto Index ETF.’ It aims to provide investors with a comprehensive digital asset portfolio. As per the filing, the Franklin Crypto Index ETF will follow the CF Institutional Digital Asset Index’s. Which now only includes the largest assets, BTC and ETH.

Will BTC Price Breakout?

Zooming in on the past month, Bitcoin was down by over 9%, which sharply dropped from $69,799 to $49,842. Similarly, in the last week, the token witnessed a dip of 2.41%, and the asset has been fluctuating between $61K and $56K. 

According to TradingView data, BTC’s daily relative strength index (RSI) stands at 46.18, nearing neutral market sentiment. Moreover, Bitcoin’s short-term 9-day MA stands below the long-term 21-day MA, which indicates the current bearish trend caused by the price dip. 

BTC price chart (Source: TradingView)

If BTC’s bullish momentum returns, the price might rise to $60K. The token may test subsequent resistance at $61,104. However, if the bearish trend persists, the Bitcoin price could fall to find support at $58,232 and potentially retrace to a low of $57,230.

Highlighted Crypto News

BTC Fog Founder Challenges 30 Year Sentence Igniting Legal Drama

Vitalik Buterin highlights the threat of bribery in Dark DAOs and proposes cryptographic solutions.

The integration of voting pools and zero-knowledge proofs in DAO could mitigate the risks of corruption.

The concept of Decentralised Autonomous Organizations (DAOs) has revolutionised how communities and projects govern themselves. However, as the landscape of decentralised governance evolves, new challenges emerge. Particularly the threat of bribery within “Dark DAOs.” 

Ethereum co-founder Vitalik Buterin has recently raised concerns about these threats. Emphasising the need for robust mechanisms to prevent bribery in decentralised environments. A team of researchers from Cornell University formed by Vitalik Buterin is exploring potential threats that could lead to “dark” voting systems within decentralised autonomous organisations.

A Cornell Research paper stated:

“They propose a new metric called Voting-Bloc Entropy that formalises a broad notion of decentralisation in voting on DAO proposals. We use VBE to prove several results about the decentralising effects of vote delegation, proposal bundling, bribery, and quadratic voting.”

Ensuring “proof of complete knowledge” is emerging as a critical approach to tackling these issues. By requiring participants to demonstrate comprehensive understanding and engagement before casting votes, this method aims to reduce the risk of bribery and manipulation. The approach helps create a more transparent and secure decision-making process within DAOs. Strengthening the integrity of the system and fostering trust among stakeholders in decentralised governance models.

The Vision and Challenges According to Vitalik Buterin

In a detailed blog post titled “The Promise and Challenges of Crypto + AI Applications,” Vitalik Buterin outlined various approaches to combat this issue, focusing on transparency and the integration of cryptographic tools to enhance accountability.

One of Vitalik Buterin’s key proposals is the implementation of cryptographic commitments and zero-knowledge proofs within DAO structures. These technologies could minimise the risk of bribery. Additionally, Buterin suggests the creation of “voting pools” where individuals can delegate their votes to trusted parties, reducing the influence of bribers.

Highlighted Crypto News Today:Franklin Templeton Files for Crypto Index ETF with the U.S SEC

 

 

Roman Sterlingov is facing a potential 30-year prison sentence for BTC Fog’s money laundering charges.

 Sterlingov’s lawyers argue that the recommended sentence is excessive compared to similar cases.

Roman Sterlingov, the founder of  Bitcoin Fog, a cryptocurrency mixer is challenging a potential 30-year prison sentence. It was followed by his conviction on multiple money laundering charges. In an August 15 filing with the U.S. District Court for the District of Columbia, Sterlingov’s legal team argued that the recommended sentence is excessive compared to penalties in similar cases.

In March, Sterlingov was convicted of money laundering and running an unlicensed money-transmitting business. He also violated the D.C. Money Transmitters Act. Prosecutors claimed Bitcoin Fog, run by Sterlingov from 2011 to 2021, laundered about $400 million in BTC tied to illegal activities.

Moreover, in their defense, Sterlingov’s lawyers argued that the 20 to 30-year sentence recommended by prosecutors is disproportionate. The defense claimed the evidence was mostly circumstantial and lacked key elements. Further, arguing Sterlingov’s role was more about aiding and abetting than directly running Bitcoin Fog.

Judge Randolph Daniel Moss, who is overseeing the case, had initially scheduled Sterlingov’s sentencing for August 21. The court will first address the seizure of Bitcoin Fog assets, including 1,354  inactive BTCs since 2012. They will also consider a potential $395 million financial judgment.

Nicole M. Argentieri,  Assistant Attorney General of the Justice Department’s Criminal Division said:

“As the jury’s guilty verdict shows, that belief was mistaken. The Criminal Division is committed to unmasking and prosecuting those who use technology to hide their crimes, no matter how sophisticated the scheme may be.”

Sterlingov’s Case Highlights Crypto Sentencing Issues

Sterlingov’s case echoes similar legal battles faced by other figures in the cryptocurrency world, like Tornado Cash co-founder Roman Storm, who is set for trial in December. The defense’s filing stresses that the recommended sentence does not reflect Sterlingov’s actual involvement and that the sentencing guidelines, focused heavily on the dollar amounts, do not accurately capture his culpability.

Finally, this case highlights ongoing challenges in prosecuting complex financial crimes involving cryptocurrency, with authorities striving to balance justice with fairness in sentencing.

Highlighted Crypto News Today:Shiba Inu’s Burn Portal ‘ShibTorch’ Goes Live on Shibarium

Prominent Web3 industry investors have announced their investment and support for TOKYO BEAST, a crypto-entertainment project set to be launched by TOKYO BEAST FZCO (HQ: Dubai, hereinafter “TOKYO BEAST FZCO”).

We are also pleased to announce that TOKYO BEAST will launch as the first title to utilize Japan’s first token and chain designed exclusively for AAA games, the “TOKYO GAMES TOKEN,” in place of the originally planned proprietary “$TBZ” token.

■ What Is the TOKYO BEAST Crypto-Entertainment Project?

TOKYO BEAST is a crypto-entertainment project centered on Web3 games that has taken up the challenge of creating new entertainment experiences through the incorporation of crypto assets.

TOKYO BEAST’s Major Points of Appeal

– Game quality that strives for pure and simple fun

Boasting a unique world, engaging characters, and an exciting battle system, TOKYO BEAST can hold its own in quality against the leading smartphone games. The gaming side of the experience also serves as a way to eliminate the barriers to start playing, such as first-time NFT purchases or wallet linking, so that even the average smartphone gamer can get started without any initial hassles.

– A series of characters that boast appeal both as game characters and as collectible NFTs

The character designs have been carefully crafted so that their value will be recognizable both inside and outside the game.

– The creation of a new entertainment experience based on predicting the outcomes of battles

Win/loss prediction features based on a lawful framework will be implemented and available to enjoy both in and out of the game. Users will be able to enjoy making use of its data to predict the outcomes of battles. Those battles will be streamed live simultaneously around the world, allowing users from all across the globe to watch and experience the excitement and passion for themselves.

Service Name TOKYO BEAST Teaser Trailer https://youtu.be/0-QvJeYJ6ds Official Site https://www.tokyo-beast.com/  Official X Account https://twitter.com/TOKYOBEAST_EN Availability App Store, Google Play, PC Browser Public Launch To be released sequentially, starting in 2024

■prominent investors from the Web3 industry have announced their investment and support for TOKYO BEAST.

prominent investors from the Web3 industry have announced their investment and support. In the future, we will aim to develop TOKYO BEAST in collaboration with the members listed below.

List of Investors (honorifics omitted)

・Giulio ・Chris ・dingaling ・wale.moca ・Jonny　・Sandeep　・Josh Ong ・Elena ・VonDoom ・OMG ・NFTboi　・Ammar Zaeem　・APPLE_SODA　・AshRobin　and　more…

■ Launching as the first title to use the TOKYO GAMES TOKEN, Japan’s first AAA-game-exclusive token and blockchain!

TOKYO BEAST’s originally planned proprietary token, $TBZ, has been replaced－the game will now launch as the first title to utilize Japan’s pioneering AAA-game-exclusive token and blockchain, the TOKYO GAMES TOKEN.

What Is the TOKYO GAMES TOKEN?

– Japan’s First-Ever AAA-Game-Exclusive Token and Blockchain

The TOKYO GAMES TOKEN is a token that uses Web3 + AAA games to target gamers everywhere. It is set to carve out a completely new economic zone unlike any that has come before.

– The AAA Multi-Hit Model

The TOKYO GAMES TOKEN will be used as a common token to attract and develop multiple AAA games. These high-quality game projects will expand the economic zone while also diversifying risk.

– Base Token

The TOKYO GAMES TOKEN is developed on a proprietary chain and can be used across all gaming products. Its purpose extends beyond merely expanding the economic zone－it will also enrich the user experience by bringing together a diverse collection of games.

List of Investors (honorifics omitted) *In alphabetic order

– Japan’s No. 1 Mobile Games Company –

– Cygames, Inc. (HQ: Shibuya Ward, Tokyo-to, President and CEO: Koichi Watanabe)

– Japan’s No. 1 Web3 Company –

– gumi Inc. (HQ: Shinjuku Ward, Tokyo-to, President and CEO: Kawamoto Hiroyuki)

Brand Site –https://tokyogamestoken.com

■TOKYO BEAST FZCO Company Overview

HQ: TOKYO BEAST FZCO

Location: 001 – 33228 IFZA Business Park, DDP, Dubai, United Arab Emirates

Representative Tomoe Mizutani

＝＝＝＝＝＝

Contact for enquiries concerning this press release – TOKYO BEAST FZCO Public Relations Manager：press@tokyobeast.ae

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Grayscale Investments is meticulously refining the Ethereum Classic trust index to boost the precision of market valuations. Concurrently, Binance Coin (BNB) is on a steady path to reclaim its pricing strength, now consistently above the critical 200-day moving average. On the other hand, with the recent introduction of its team, BlockDAG presale has triggered a 1600% price surge since the project’s inception, emphasizing its potential as a top crypto coin.

Revising the Ethereum Classic Trust Index

Grayscale Investments has revised its Ethereum Classic Trust index, now including Bitfinex while removing Crypto.com from the CoinDesk Ether Classic Price Index (ECX). These changes aim to more accurately reflect current market liquidity and uphold the precision of the Ethereum Classic trust index. These periodic reviews by the Index Provider ensure that the trust’s valuation remains tightly linked to market dynamics, thereby bolstering its trustworthiness for investors.

Despite notable price fluctuations, the Ethereum Classic Trust (ETCG) holds considerable potential for long-term appreciation. According to InvestingPro, despite recent downturns, the trust recorded a one-year return of 48.55%, highlighting its potential for steadfast investors. This scenario suggests a profitable, though speculative, opportunity in the ever-changing realm of digital currencies.

BNB’s Recovery Path

Binance Coin (BNB) is making strides to recover its former market position, with recent price movements elevating it beyond the 200-day moving average—a sign of a bullish trend. This resurgence follows a significant drop from its peak of $710 to $458, spurred by broader market sell-offs and internal challenges like legal disputes and shifts in management.

BNB is now stabilizing at about $573, indicating a robust potential for further advancement. This stabilization underscores BNB’s capacity for resilience within the fluctuating crypto market.

BlockDAG’s Team Introduction Spurs Monumental Presale Growth

The crypto community has warmly received the introduction of BlockDAG’s elite team, led by CEO Antony Turner. With a rich history in crypto innovation from SwissOne Capital to Spirit Blockchain, Turner infuses BlockDAG with profound knowledge and insight.

Turner recently expressed, “Our aim is to integrate leading crypto technologies to bridge prevailing gaps, ensuring our blockchain is swift, scalable, sustainable, and community-focused.”

This vision has fueled a significant presale boost for BlockDAG, now priced at $0.017 in its 21st batch, marking a striking 1600% growth from its start. Turner emphasizes community and stakeholder involvement, “Our growth is powered by community feedback, shaping our ambitious roadmap and forthcoming mainnet debut.”

The leadership team, including cybersecurity expert Dr. Prof. Youssef Khaoulaj and esteemed computer scientist Maurice Herlihy, emphasizes the platform’s commitment to security and innovative development.

With the investment community rallying behind BlockDAG, the presale has amassed an impressive $66.4 million. The sale of over 10,600 miners, bringing in an additional $4.3 million, has not only enhanced financial metrics but also affirmed BlockDAG’s position as a prime candidate among 2024’s top crypto assets. Turner adds, “We aim to go beyond typical blockchain applications; we are pioneering a blockchain revolution that values innovation and inclusivity.”

Closing reflections

Amid updates and rebounds, BlockDAG differentiates itself through not only numbers but through visionary leadership and innovative strategies, marking a significant shift towards blockchain preeminence. With BlockDAG’s unprecedented 1600% growth post-team reveal, it not only solidifies its status as a 2024 crypto leader but also redefines market expectations in the crypto landscape.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

In a world where a housewife’s role often seems confined to managing the home, one remarkable woman changed her life with a simple but bold decision. She invested $5,000 in Ethereum when it was just $10 per coin. As Ethereum’s value soared, her investment grew to an impressive $250,000, transforming her financial future.

Her story reflects the exciting potential of BlockDAG today. Just like her Ethereum investment, BlockDAG is offering a new chance for those ready to embrace it. With its user-friendly low code/no code technology, BlockDAG makes it easy for anyone, even those with no technical background, to get into crypto.

As BlockDAG’s presale surpasses $66.4 million and its coin value jumps by 1600%, this is a golden opportunity for beginners to achieve the kind of success Ethereum once provided.

How a Housewife’s $5K Turned into $250K with Ethereum?

The crypto market has often been seen as a high-stakes game that is reserved for those who have deep pockets or deep financial knowledge. Yet, sometimes it’s the everyday person who finds unexpected success.

Such is the story of a housewife, who with just $5,000 took a leap of faith in Ethereum when its cost was a mere $10 per coin. It was a cautious move for her as she had heard a bit about cryptocurrencies and their potential but didn’t know the complexities of it. Still, her desire to diversify her savings led her to invest in a then-less-popular Ethereum crypto, and she considered this worth trying.

For her, this decision was the blend of curiosity and desire to secure a better future with her family. However, this small amount was everything for her as it was her overall savings. As months passed, Ethereum began to make waves in the crypto market. Its value climbed steadily and her $5000 turned into an astonishing $250,000 a few years later. This transformation was nothing short of miraculous for her.

This newfound wealth allowed her to pay off her debts, and give her children a better and secure future without any financial crisis. Her decision to invest in Ethereum turned her life into a clear example that a calculated risk has the potential to transform life in the best way ever.

BlockDAG Next to Turn Minor Holdings into Major Returns

The story of the housewife who earned great returns from her early investment in Ethereum is inspirational. But is BlockDAG the next Ethereum? BlockDAG’s ecosystem shows its potential for a similar growth chance. Its low-code/no-code platform is easy to use, making it simple for people without technical skills to buy cryptocurrencies.

BlockDAG keeps its platform simple and easy to use, making the complex world of blockchain understandable for everyone. This approach attracts a wide range of users, leading to more growth and activity on its dashboard. Moreover, BlockDAG is committed to transparency and security, ensuring that every transaction and operation is clear and secure for users, and building trust in the platform.

BlockDAG’s ongoing presale has already raised over $66.4 million, with the coin’s value jumping by 1600% from the initial $0.001 price to $0.017 in the current batch 21. Imagine buying $5,000 worth of BDAG coins now in the current batch: when the coin reaches $0.05 in the final batch, the holdings will grow to about $14,705.88. This potential for high returns, combined with a focus on security and transparency, makes BlockDAG a compelling option for those looking to get similar returns to those experienced by early Ethereum investors.

BlockDAG to Turn Small Bets into Big Wins

To wrap up, the story of a housewife who turned a small investment into a big fortune with Ethereum shows what’s possible in the world of cryptocurrency. In today’s market, BlockDAG offers a similar opportunity as a new budding crypto that breaking records. Its presale success of $66.4 million and growth show BlockDAG’s future potential to turn a small amount into much more. Buying into BlockDAG isn’t just about earning quick profits; it’s about seizing an opportunity to potentially secure financial stability for life.

Buy BlockDAG in Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Polkadot (DOT) recently caught attention with its price attempting a recovery, climbing over 30% in just three sessions. However, it still faces significant selling pressure and struggles to break past the $5 mark, casting doubts on its near-term prospects. Similarly, Kaspa’s (KAS) prediction shows mixed signals, with sharp price fluctuations and uncertain investor confidence.

During these market challenges, BlockDAG (BDAG) shows a different path. Recently listed on CoinMarketCap and leading the charts on CoinSniper, BlockDAG is aiming to break into the top 30 on CoinMarketCap soon. These listings indicate BlockDAG’s credibility and potential for substantial growth. With a successful presale that has already raised $66.2 million, BlockDAG is set to drive significant market momentum, attracting new and seasoned buyers.

Polkadot (DOT) Price Recovery: What’s Next After 30% Rise?

Polkadot (DOT) is experiencing a price reversal after a significant downturn. It saw a sharp rebound, gaining over 30% in just three sessions. Despite mixed results, Polkadot’s DOT token is trading at $4.72, up 2.36% today, but still shows a long-term bearish trend. The token has consistently fallen, losing about 40% in the past two months and dropping below the crucial $5 demand zone.

Technically, Polkadot is still under pressure. The token’s RSI and MACD indicate a potential reversal, but bearish trends could continue unless it surpasses the $7 mark. Social metrics also reveal a downtick, indicating a drop in investor enthusiasm. The funding rate for DOT remains negative, pointing to a continued bearish outlook.

Kaspa Prediction: Will It Bounce Back After the Recent Market Crash?

Kaspa (KAS) has been a focus of intense discussion among crypto analysts. Recently, its trading volume surged by 180%, a sign of renewed interest. Despite a recent spike in activity, the token’s price dropped over 25% in a day to $0.1315. Just a week ago, Kaspa was nearing the $1 milestone, but a sudden market crash has cast doubt on its short-term prospects.

Kaspa’s future is unclear, with opinions split. Some analysts attribute the downturn to profit-taking, while others view it as a brief dip before a possible rally. Kaspa’s price trends and market mood indicate it must rebuild investor trust before potentially hitting $1 again.

BlockDAG’s Momentum on CoinMarketCap and CoinSniper

BlockDAG has recently secured listings on two of the most influential platforms in the crypto space: CoinMarketCap and CoinSniper. These listings are not just about recognition; they signify BlockDAG’s growing influence and credibility in the market.

BlockDAG is now on CoinMarketCap, a site that follows top cryptocurrencies. This helps more people, especially experienced crypto buyers, follow the market trends. They use the site’s tools to help make smart choices.

BlockDAG’s performance on CoinSniper has been impressive. Due to its robust community support and significant attention from crypto whales, it has surged to the top of the trending charts. With over 3,271 boosts on CoinSniper, BlockDAG is resonating with early adopters and new buyers.

This momentum is further supported by BlockDAG’s successful presale, which has already raised an astounding $66.4 million. The presale, now in Batch 21, has seen the BDAG coin price skyrocket by 1600%, from an initial price of $0.001 to $0.017, making it one of the most lucrative opportunities in the market today.

The implications of these listings are profound. As BlockDAG continues to gain traction on CoinMarketCap, it is predicted to break into the top 30 rankings soon. Such a ranking would strengthen its status as a leading cryptocurrency and attract multiple new contributors looking for high-growth opportunities.

The presale success and strong community backing further justify BlockDAG’s strategic direction. This creates a sense of urgency among buyers to get in early before the coin’s price surges even higher.

Wrapping Up

In a market where Polkadot struggles to maintain its footing, and Kaspa faces uncertain prospects, BlockDAG appears as a strong contender. With its recent listings on CoinMarketCap and CoinSniper, BlockDAG is well on its way to becoming a top-tier cryptocurrency.

These milestones, combined with its impressive presale performance make BlockDAG the best crypto for those looking to capitalise on the next big opportunity. BlockDAG can potentially hit the top 30 on Market Cap faster than other coins and become the best crypto to buy.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Matrix Chain is redefining the decentralized finance (DeFi) landscape with a strong commitment to transparency and security, prioritizing the community's needs at every step. This focus has driven the platform to merge advanced blockchain technology with DeFi, creating a decentralized powerhouse on the BNB Chain.

Leading the Way in DeFi Staking on BNB Chain
Matrix Chain leverages smart contracts and a Proof of Stake (PoS) consensus mechanism, empowering its community to play an active role in governance and ecosystem development. This isn't just talk; the platform has undergone rigorous audits by top security experts and firms like Cyberscope and TrustCova. The audit process thoroughly examined everything from the source code to smart contracts and consensus mechanisms, confirming that Matrix Chain meets the highest security standards. Users can rest assured knowing their transactions and data are secure within the Matrix Smart Chain.
The PoS mechanism at the heart of Matrix Chain ensures that transactions are validated and the network remains secure. Unlike the energy-intensive Proof of Work (PoW) systems, Matrix Chain’s PoS selects validators based on the amount of coins they stake. This method is not only more secure and scalable, but it’s also kinder to the environment. The result? A blockchain network that's built to last, designed to handle the growing demands of the digital economy.
Matrix Chain’s innovative mining mechanism has driven demand for the MTC token, creating a supply squeeze that’s pushing the token’s value higher. As more users flock to the platform, the supply of MTC tightens, fueling a dynamic market environment. This scarcity, combined with active user participation, has positioned MTC as a sought-after asset, with growing confidence in its future potential.
Remarkable Achievements and Going Global
Matrix Chain's success isn’t confined to one region. The project has expanded its community footprint across Dubai, Malaysia, South Korea, Vietnam, Australia, Indonesia, and more. With a reported daily trading volume of $5.4 million on PancakeSwap, MTC is among the top three fastest-growing coins on the BNB Chain, boasting an incredible 920x increase. 
This growth speaks volumes about the strength of its community, which now includes 300,000 active users. And this is just the beginning—Matrix Chain has set its sights on reaching 100 million users by 2026, a goal that underscores its dedication to transparency, security, and user-centered innovation.
Vision 2025: Expanding Reach and Enhancing User Experience within the Ecosystem

Looking ahead, Matrix Chain is poised to drive the digital economy forward. By 2025, the ecosystem will be anchored by the advanced Matrix Wallet, the high-performance Matrix Exchange, and the groundbreaking Matrix Smart Chain. 
The PoS mechanism will ensure swift transactions, minimal fees, and exceptional scalability, laying the groundwork for Matrix Chain to become an integral part of everyday life.

Media Contact:
Company name: MATRIX CHAIN LTD (15332488)
Contact person: KUNDE, Jake
Email: support@matrixchain.space
Website: matrixchain.space
City: London
Country: United Kingdom

The deployment of the auto burn function is one of the long-term pledges by the developers.

The portal will only burn the base fees that customers pay.

The Shiba Inu ecosystem’s Shibarium is undergoing a massive transformation. The creators of the memecoin project have finally released the ShibTorch, a gateway for the automated burning of SHIB, after months of conjecture.

The deployment of the auto burn function is one of the long-term pledges made by the ecosystem developers. Even though the community was kept in the dark about the name and debut date of ShibTorch until today, it has not failed to impress.

Automated Burning

Moreover, to maintain its position as one of the leading meme coins, Shiba Inu prioritizes the burning of its surplus supply. In the past, the memecoin community’s goodwill was crucial in burning down the surplus of SHIB in circulation. The overall quantity burned might vary greatly since this burning is mostly done manually.

Shiba Inu has been fighting an uphill battle to be resilient as of late. Thanks to the stress of all this uncertain burning. With ShibTorch, things are about to change. The need of burning tokens rests on three pillars, as the team elucidated. Among these are measures to rein in inflation, cut down on supply to boost value, and reward holders with the possibility of future appreciation.

According to Lucie, the marketing executive, the portal will only burn the base fees that customers pay, as stated in the ShibTorch operating model. The burn contract will get this base charge first, and validators will receive payments second.

Furthermore, users may initiate a Shibarium burn procedure by amassing BONE. Last but not least, the BONE gets burned from circulation after being converted to SHIB on Ethereum. Even if manual burning is no longer an option, the majority of ShibTorch’s functionality is still determined by the community.

Highlighted Crypto News Today:

Ripple (XRP) Price Slips as Holders Take Profits

The Franklin Crypto Index ETF will follow the CF Institutional Digital Asset Index’s performance.

The first crypto index ETF to apply for approval was the Hashdex Nasdaq Crypto Index ETF.

According to a filing made on August 16 with the U.S SEC, asset manager Franklin Templeton is planning to introduce a new exchange-traded fund (ETF) that would serve as a comprehensive cryptocurrency portfolio. According to the paperwork, the Franklin Crypto Index ETF will follow the CF Institutional Digital Asset Index’s. Which now only includes BTC and ETH performance.

Furthermore, the ETF may hold more varieties of cryptocurrencies in the future. But according to the filing, it will invest in digital assets in proportion to their weights in the underlying index in order to reach its investment goal.

Next Natural Move

Moreover, with the introduction of Bitcoin ETF in January and Ethereum ETF in July, crypto index ETFs are quickly becoming the focus of crypto ETF issuers. Also, Franklin Crypto Index ETF is one of the first to join this trend. The first crypto index ETF to apply for regulatory approval was the Hashdex Nasdaq Crypto Index ETF. And now the new index ETF by Franklin will compete with it.

Since indices are efficient for investors, the next natural step is index exchange-traded funds (ETFs), such as the S&P 500 ETF. When it comes to cryptocurrency, this will remain unchanged, according to Katalin Tischhauser, head of investment research at Sygnum.

Since the Securities and Exchange Commission (SEC) has only approved BTC and ETH to be included in ETFs so far. Tischhauser said that crypto index ETFs are now confined to just two digital currencies.

With $25 billion in AUM, Grayscale is the biggest crypto fund issuer. They have hinted that they would be interested in getting in on crypto index ETFs.

Highlighted Crypto News Today:

Ripple (XRP) Price Slips as Holders Take Profits

A lot of people are trying to get formal permission, but it’s still a tough procedure.

Leading figures in the crypto world have taken notice of Turkey’s burgeoning market.

A number of prominent cryptocurrency exchanges, including KuCoin and Coinbase, have recently filed for crypto licenses in Turkey. Since August 9, when 47 exchanges, including Binance and OKX, among others, filed for the license, 29 more crypto exchanges have applied, according to the most recent update from Turkey’s Capital Markets Board (CMB).

Leading figures in the digital asset world have taken notice of Turkey’s burgeoning cryptocurrency market. It is worth mentioning that a number of prominent cryptocurrency exchanges, such as Coinbase and KuCoin, have recently submitted licensing applications. This shows how serious the big firms are in breaking into the Turkish market.

Regulatory Compliance

Another factor contributing to the recent uptick in applications is the “Law on Amendments To The Capital Markets Law” that Turkey enacted at the beginning of July. Service providers in the country’s cryptocurrency market were the primary targets of this regulatory posture.

The number of exchanges requesting the license has skyrocketed since the regulation was enacted, according to the CMB report. Major participants like Coinbase and KuCoin were not on the list of 47 exchanges that have applied as of August 9. The list includes OKX, Binance, and others. With the addition of the participants, however, the most recent update revealed that the number has risen to 76.

A lot of people are trying to get formal permission, but it’s still a tough procedure. Being included in the “List of Those in Operation” does not ensure quick clearance, as the CMB has stressed. However, it points towards how crypto exchanges are taking regulatory compliance seriously in recent times.

Highlighted Crypto News Today:

Ripple (XRP) Price Slips as Holders Take Profits

The goal of this MoU is to enhance current and future efforts pertaining to digital credentials.

The MIMOS has inked a MoU with the crypto project’s foundation, Tools for Humanity.

Sam Altman’s Worldcoin is back in the news after forming a partnership with MIMOS Berhad, the applied research and development arm of the Malaysian government. Official statements from both organizations have been publicized today, announcing their partnership to promote digital proof of humanness across Malaysia.

The country’s digital infrastructure is set to be upgraded to include the cutting-edge technology from the AI project. Which is happening at a time when AI-related technologies are being adopted at a rapid pace throughout the world.

Banking on Digital Proof of Humanness

As per a Worldcoin official announcement on X today, August 16, the MIMOS has inked a memorandum of understanding (MoU) with the crypto project’s foundation, Tools for Humanity (TFH), and MyEG, a well-known e-government services provider, to incorporate the AI project’s technology into the nation’s digital infrastructure.

Moreover, the goal of this memorandum of understanding is to enhance current and future efforts pertaining to digital credentials. By using the protocol and TFH technologies developed as part of the AI project. Also, the corporation went on to say in its press statement that this proves digital proof of humanness is important in this AI era.

Furthermore, the Malaysian operations of Sam Altman’s AI meets crypto project will provide users with access to humanness verifications. Via the use of TFH’s state-of-the-art iris imaging technology, as per the terms of the MoU. This tech is known as the World Orb.

In addition, the collaboration will grow into other important domains. Such as joint Orb production and connecting World Chain to the national blockchain infrastructure of Malaysia.

Highlighted Crypto News Today:

Ripple (XRP) Price Slips as Holders Take Profits

XRP price drops 5% in a week, trading at $0.55 due to increased profit-taking.

MVRV ratio at 48% indicates overvaluation, prompting holders to sell.

Technical indicators suggest a potential drop to $0.52 or recovery to $0.60, depending on demand.

Ripple (XRP) has experienced a notable decline over the past week amidst mixed market conditions. This price action comes as a direct result of XRP holders capitalizing on the profitability of recent daily transactions, contributing to a sustained sell-off.

The Market Value to Realized Value (MVRV) ratio, a key metric for assessing an asset’s valuation, currently stands at 48% for XRP. This elevated figure suggests that the token is trading well above its average acquisition cost, a situation that often prompts holders to liquidate their positions for profit.

The MVRV ratio’s current reading indicates that a substantial portion of XRP holders are in the green, fueling the ongoing wave of token distribution.

XRP traders cashing out

Complementing the MVRV data, XRP’s Network Realized Profit/Loss (NPL) metric has consistently registered positive values since the beginning of the month. This trend confirms that the majority of XRP traders are closing their positions at a profit, further exacerbating the selling pressure on the token.

Source:  Santiment

The NPL’s positive readings serve as a clear indicator of the market’s profit-taking sentiment, which typically creates downward pressure on an asset’s price.

The exodus of liquidity from the XRP market is further evidenced by the negative Chaikin Money Flow (CMF) indicator. Since August 11, the CMF has remained below the zero line, signaling ongoing market weakness.

When coupled with a declining price, a negative CMF often portends an extended downturn, raising concerns about XRP’s near-term price trajectory.

Looking ahead, the coin’s price action will likely be dictated by the interplay between ongoing profit-taking and potential new demand. In the absence of a major influx of buyers to counterbalance the current selling pressure, XRP could see its price retreat to the $0.52 level.  

The cryptocurrency market is witnessing a significant influx of liquidity following the minting of $1 billion USDT by Tether Treasury. This minting event brings Tether’s total issuance to an impressive 23 billion USDT over the past year, marking a substantial increase in market liquidity and investor confidence.

This fresh minting has led to a substantial transfer of USDT stablecoins to major centralized exchanges. In particular, Cumberland, a prominent trading firm, moved $183.2 million USDT immediately post-mint to various exchanges. Since August 5, Cumberland has injected $906.7 million USDT into exchanges such as Coinbase, Kraken, OKX, and Binance. 

This latest minting follows similar large-scale issuances, including a $1 billion USDT mint in July and a $3 billion USDT mint in March, both of which influenced the price movements of Bitcoin and other cryptocurrencies. 

Adding to the liquidity influx, Circle has also been actively minting USDC. Recently, $102,329,362 USDC was minted at the USDC Treasury on August 12, following a $250,000,000 USDC mint on August 8. 

The combined $1.35 billion injection of USDT and USDC into the market is expected to significantly impact the overall market environment, particularly emerging projects like DigiHorse (DIGI). 

DigiHorse (DIGI) Gains Traction Amid Market Activity

Amid these liquidity movements, DigiHorse (DIGI), an innovative platform offering AI-powered NFTs and blockchain-based racehorse gaming, has been gaining traction. With its unique offering and ongoing presale, DigiHorse has positioned itself as a promising alternative in the crypto space. 

The presale, which offers 450,000,000 DIGI tokens, is projected to reach a value of $33.75 million as the token price rises from $0.003333 in Stage 1 to an anticipated $0.075 at listing. This significant potential return is drawing attention from investors looking for the next big opportunity in the crypto market.

DigiHorse’s play-to-earn model, coupled with evolving NFTs that adapt and grow, is generating excitement among investors and gaming enthusiasts alike. The platform’s innovative approach is setting it apart from other projects, making it a key player to watch as the market continues to evolve.

As the market adapts to the influx of liquidity, DigiHorse (DIGI) stands to benefit from the rising investor activity, solidifying its position as a promising alternative in the blockchain gaming space. 

For more information and to participate in the DigiHorse (DIGI) presale, visit the official DigiHorse Empires website.

Twitter: https://x.com/DHorseEmpires

Telegram: https://t.me/DigiHorseEmpiresOfficial

Website: https://digihorseempires.io

Presale: Join Now

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.