The post "Bitcoin hits a new high number of Wholecoiner addresses, with more than one million" first appeared on 36crypto.com News.
Bitcoin's new metric in the cryptocurrency market observed that the base unit of bitcoin address holding one whole BTC is more than one million for the first time. Maximalist data from IntoTheBlock shows that 1,010,777 addresses can be termed "wholecoiners," evidencing the growth of the number of Bitcoin investors.
Though there is no fixed value of holding a whole coin for a wholecoiner, it is a popular term used in bitcoin forums to denote an entity that owns one or more bitcoins. This is a sign of the expanding popularity of bitcoins and budding confidence in it as an appropriate investment tool. Furthermore, this trend indicates the increased necessity of Bitcoin as a reliable stored-value instrument in uncertain market situations.
The wholecoiner addresses increase, has been depicted in IntoTheBlock. This is not a one-time rise but a continuously ascending line. As Bitcoin progresses in relevancy and age, the count of addresses containing at least one BTC has been consistently going up. This continuance of growth implies that people are inclined towards Bitcoin and embracing it more as a store of high value and long-term gains as much as investors take risks for wealth creation.
Significance of Wholecoiner Achievement Amid Bitcoin's Supply Limit and Current Market Dynamics
Having more than a million wholecoiner addresses can be considered important, given that the world's leading crypto – Bitcoin- has a supply limit of 21 million. This fixed limit increases the worth of at least one Bitcoin since its global demand is steadily rising. The scarcity of #Bitcoin is another critical component in the continuous appeal to invest wholecoiners because each new one is a larger piece of the pie.
However, address accumulation continues to rise, though it is down around 17% from its all-time high near $74,000 established in mid-March. The drop came after a social buzz on the possible approval of ETFs linked to cryptocurrencies in the United States. Bitcoin is on the rise, slightly valued at $61,592, up by only 0.04% within the last day.
Such a recent market behavior also coincides with new expectations in reducing the interest rate in the USA, which also affected investor perceptions of risky instruments, including cryptocurrencies. While investors battle in such an unpredictable global economy, the rising of the wholecoiner addresses signals that Bitcoin remains attractive as an instrument to hedge the regular stock market swings.
This is quite significant for Bitcoin and its people, as it demonstrates not only incremental growth in terms of Bitcoin but a rather consistent movement towards the expansion of institutions and ordinary people interested in this asset. While a wholecoiner status is relatively less critical at present due to the volatility in the market and emerging structures of digital money, the continuous changes in the scenario are going to emphasize how important or how necessary it is to turn into a wholecoiner from an altcoin trader in the future.
#VanEck_SOL_ETFS #US_Inflation_Easing_Alert #ETH_ETFs_Approval_Predictions

The post "SEC Files Lawsuit Against Consensys, Citing Unregistered Security Operations" first appeared on 36crypto.com News.
A new legal battle has erupted in the #Ethereum space involving Consensys, one of the biggest developers for Ethereum in the United States.  This new legal case emerged barely a week after the SEC wrapped up its investigation of Ethereum 2.0, first of all, seemed to be viewed as a triumph for blockchain enthusiasts.
These concerns include serious allegations of investor protections the SEC alleges Consensys neglected to follow. The agency claims that Consensys should have registered with the agency as a broker but never did, leaving many of its investors with minimal protection. This action demonstrates that the SEC stays committed to maintaining compliance within a still-growing crypto industry sector.
Core Allegations and Compliance Challenges in the SEC's Case Against Consensys
At the heart of the allegations, the SEC points to specific activities involving the Lido and Rocket Pool staking programs. The SEC reasoned that these programs constitute securities since people entrust their tokens to a venture to make their profit. As the SEC expounds, Consensys, via MetaMask, facilitates the sale of these staking programs and services.
Not only does it make purchasing and selling easier and faster, but also the broker gives an opinion on which program may give better results. Furthermore, the SEC's scrutiny extends beyond Consensys to include other tokens such as #Polygon (MATIC) and Chiliz (CHZ), which it also labels as unregistered securities. This classification could have broader implications for digital asset market dynamics and regulatory landscape.
The wider implications of this legal case could have a major impact on the relationship between software creators, online platform operators, and U.S. investors. The laws used here might shape legal practices within the whole digital asset sector, as other firms operating in the space would likely consider how they could adopt the practices to achieve compliance.
Consensys founder Joseph Lubin has responded by stressing that the battle continues in an attempt to create the right approach for regulating blockchain and cryptocurrency. Lubin's words echo a sentiment that many crypto community members experience – a sentiment of constant conflict with such organizations as the SEC.
Based on the current speculation in the marketplace, Consensys and Lubin are confident they can tackle such complications in the future despite current issues in regulating cryptocurrencies.
Regardless of its presumable outcome, this legal process will undeniably attract the interest of all sorts of participants in cryptocurrencies and blocks. The result can not only define Consensys's further activity but also affect the regulation of crypto assets in general. This case is an excellent example of how innovation in the digital asset sector and relevant regulatory measures that aim to safeguard customers are intertwined.
#US_Inflation_Easing_Alert #VanEck_SOL_ETFS #IntroToCopytrading

The post "Michael Saylor is Advocating for Bitcoin during Economic Volatility" first appeared on 36crypto.com News.
Whereas the economy is unstable, MicroStrategy's cofounder and chairman Michael Saylor has reassured the world that Bitcoin is the future amidst uncertainties. With interest rates sending mixed signals and potential cuts on the horizon, Saylor's stance is timely and bold. Recently, he said, "The cure for economic ills is the orange pill," and he calls Bitcoin a cure for the unknown future. This is about the 'red pill' from the Matrix movie, now as a means of getting to the deeper truth about economics, which Bitcoin represents.
Bitcoin's Current Market Dynamics and Market Watchers' Projections
Today, #bitcoin☀️ is at a turning point, reaching $62,000 after falling below $ 60,000 for several hours. It has been in a wide lateral movement, thus suggesting that it has been trading within a consolidation phase where most buying comes around the 56,500 support level while most selling is at the 73,777 resistance level.
Furthermore, the short-term task of Bitcoin supporters is to keep the currency above the critical level of $56,000. Market experts regard active buying in the $60,000-$65,500 area in the following days as a way to prevent a fall to $50,000. However, a breakdown above the $64,800 level will partially eliminate the bearish pressure and open the way for a further $70,000.
While Michael Saylor has come out strongly in defense of Bitcoin, this has alerted market players and investors. As economic indicators continue to present a complex picture, Bitcoin is closely scrutinized for signs of sustained stability or volatility.
These developments are closely watched by investors and analysts since the cryptomarkets, as a rule, do not move up easily out of trading ranges. While the debate on interest rate fluctuations continues, cryptocurrencies' ability to manage economic risks has gained attention amongst financial gurus.
Michael Saylor's unwavering support for Bitcoin underscores a significant sentiment in the crypto community: Bitcoin offers stability and potential growth amidst financial uncertainty. As economic debates persist, the cryptocurrency's performance could provide critical insights into the broader financial landscape, influencing future monetary policies and investment strategies.

#US_Inflation_Easing_Alert #VanEck_SOL_ETFS

The post "John Bollinger Expects Bitcoin to Continue to Trade in a Range Following the Pullback Attempt" first appeared on 36crypto.com News.
In a recent update, cryptocurrency market trader John Bollinger shared a message on the X social media platform that Bitcoin is in a consolidation phase. The cryptocurrency chart shows that the recent movement failed to demonstrate the expected acceleration even though the setup was favorable, as Bollinger mentioned.
Bollinger examines Bitcoin's market movements and trading implications.
John Bollinger, who popularized the Bollinger Bands trading tool, reacted to Bitcoin's performance after what seemed to have been a critical reversal signal. On June 25, he pointed at a lovely two-bar reversal at the Bollinger Bands' lower end, which typically signals the forthcoming rally. Such a pattern was traditionally one of the most preferred indicators by Bollinger, which he called his 'bread and butter' indicators as they were rock steady in pointing the market's direction.
However, this formation did not bring the expected change to the upward movement of #Bitcoin as was predicted. Earlier today, the benchmark digital currency revisited the $62,000 territory but lost the ground equally quickly, illustrating the nature of the environment.

Source: John Bollinger/X
The two-bar reversal that Bollinger has described consists of two bars of measurable trading that go beyond the present average true range or ATR, meaning a measure of volatility. For the reversal to have some chance of being effective, the first bar needs to close outside the 'Upper or Lower Bollinger Band' the next bar then goes below or above the same respective Bollinger Band. This structure is most effective for counter-trend arrangements since this provides the trader with a perfect opportunity to participate in the market.
Nevertheless, as it was considered previously, this week was somewhat more successful, and the price of Bitcoin has been fluctuating near $60,181, according to data from CoinGecko. The insignificance of following through the higher trajectory after the simple two-bar reversal indicates that the investor community is more prudently involved, probably in response to economic signals or concerns with market liquidity.
The scenario outlined by Bollinger points to a more subdued forecast for Bitcoin in the near term. It might be helpful for traders as it gives ground for expectation in a market that is often keen on steep fluctuations and speculative mania. Market participants will continue looking for new indicators indicating a change in the Bitcoin range.
In conclusion, the technical trend showed the possibility of a bullish run in Bitcoin, but the actual market signals posed the need to revisit it. John Bollinger's words can be taken as a navigator for investors when trading cryptocurrencies, especially highlighting that one needs to stay alert when trading. Once again, it will be interesting to observe the creation of such market scenarios by the investors and analysts all expecting to calculate the shift in the price of Bitcoin.
#MicroStrategyBTC #US_Inflation_Easing_Alert #VanEck_SOL_ETFS

The post "Binance Adjusts SHIB Trading Options Amid Market Dynamics: Details" first appeared on 36crypto.com News.
In a recent clarification to the Shiba Inu community, LucieSHIB, the marketing executive for the #ShibaInu (SHIB) token, addressed concerns raised by an update from the Binance exchange. The actions of Binance that announced it would delist specific trading pairs, such as the SHIB/TUSD, caused investors several goosebumps. This decision is the regular evaluation of the pairs to see how trading can be enhanced by dropping the less used pairs.
Additionally, LucieSHIB pointed out that this adjustment refers to the overall listing of the Shiba Inu token on the Binance platform. Shiba Inu is still among the cryptocurrencies Binance offers for trading, as other pairs, such as SHIB/USDT and SHIB/USDC, observe heavy trading activity. This action coordinates with the measures taken by Binance to optimize the trading experience and make trading safe for customers.
Shiba Inu Community Praised for Vigilance
Fortunately, the update arrived at the right time because volatility within the Shiba Inu ecosystem is high and frequently results in misguided information. LucieSHIB, on her part, used this opportunity to alert the community that trickery articles sometimes appear, and she urged the community to exercise caution. Proactive communication seeks to reduce cases of fraud that are common in the cryptocurrency markets, more so in volatile times. 
Binance has remained one of the most significant crypto exchanges worldwide, and such moves go a long way in ensuring that its trading market is healthy. Some of the other duos that were seen out from the platform include METIS/FDUSD LINK/TUSD and BLUR/FDUSD, as well as the SHIB/TUSD combination.
The clarification from LucieSHIB has been well-received by the Shiba Inu community, fostering a better understanding of Binance’s operational decisions. This incident underscores the importance of clear and direct communication from project leaders to ensure that investors are well-informed and not swayed by unfounded rumors. As the crypto landscape evolves, such clarity will be essential in maintaining investor confidence and market stability.
#shiba⚡ #MtGoxJulyRepayments

The post "Circle Burns 150 Million USDC Tokens in Significant Blockchain Transaction" first appeared on 36crypto.com News.
Circle, the issuer of USD Coin (USDC), has recently burned 150 million #USDC✅ tokens, equivalent to around $150 million. Whale Alert, a blockchain alert service, described the transaction on Ethereum. Circle switched the USDC to a null address, which caused a buzz in the community since it was impossible to access it.
This significant burning event is part of a broader trend observed over recent months. On Monday, Circle incinerated over $61.3 million worth of USDC tokens. Blockchain records indicate that the null address used by Circle for these burns often receives small-value inbound transfers, with some transactions recorded just minutes before.
Circle $1.061 Billion USDC Token Burn by May's End
Minting and burning USDC can also be described using the information found on Circle’s official site. Whenever the business deposits the USD into its Circle Account, Circle sends the equivalent amount of USDC to the business account. This process is known as minting, making the initial circulation of USDC higher than designed. On the other hand, when a business intends to sell a particular amount of USDC for USD, it will transfer USDC to its Circle Mint account and request for USD conversion. This process is called burning, which can be understood as the disposal of USDC.
The recent $150 million transaction reflects a business entity redeeming significant stablecoins from Circle. Whale Alert tracked large-value USDC redemptions totaling over $371 million this month. By the end of May, Circle had also burned over $1.061 billion in USDC tokens. One of the most notable transactions occurred on March 14, 2023, when Circle destroyed $2.2 billion USDC tokens daily.
Circle recently burned 150 million USDC tokens, a relatively significant transaction within the context of cryptocurrencies. This points to constant action even when there is no large-scale redemption of USDC. Given such priorities and as the blockchain community intensifies the monitoring of these transactions, such massive burns’ rationales are something that causes interest and concern.

#MtGoxJulyRepayments #CryptoPCEWatch

The post "Ripple CEO Brad Garlinghouse Criticizes SEC Chair Over Comments on Crypto Executives" first appeared on 36crypto.com News.
#Ripple💰 CEO Brad Garlinghouse recently criticized US Securities and Exchange Commission (SEC) Chair Gary Gensler's comments regarding cryptocurrency leaders fearing jail time. Gensler stated that several prominent individuals in the Bitcoin industry are either in jail, soon to be imprisoned, or awaiting extradition. Garlinghouse claimed that Gensler ignored the FTX collapse and accused him of having a solid relationship with FTX founder Sam Bankman-Fried.
Gensler has already received criticism for his connections to Bankman-Fried. Last year, US Representative Patrick McHenry, chairman of the House Financial Services Committee, brought up the subject. Bankman-Fried was sentenced to 25 years in federal prison in March for his role in various fraudulent enterprises. The collapse of the FTX exchange affected hundreds of thousands of customers, leading to widespread criticism of the SEC for not acting sooner.
Ripple CEO's Response to Regulatory Failures
Following the #FTX collapse, Garlinghouse emphasized that authorities should discourage "horrible behavior" to make carrying out scams like FTX more challenging. He chastised the SEC for its slow response, which allowed the calamity to occur. Garlinghouse stated that regulators safeguard the public and preserve market integrity.
In a recent social media post, Garlinghouse commented on Binance's deal with the Department of Justice. He emphasized that the SEC was not involved in the remark, questioning the agency's effectiveness. Garlinghouse's statements highlight his concerns about the SEC's ability to control the cryptocurrency business effectively.
Garlinghouse's criticism of Gensler and the SEC reflects a broader concern among bitcoin industry participants about regulatory oversight. The Ripple CEO's words highlight the need for more proactive and effective regulation to prevent fraud and protect customers. As the cryptocurrency market evolves, regulators like the SEC will play an increasingly crucial role in ensuring a fair and transparent environment for all participants.

#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide

The post "Dogecoin's 2024 Performance and Potential Ahead" first appeared on 36crypto.com News.
#Dogecoin (DOGE), the original meme cryptocurrency, has performed consistently but uneventfully in 2024, with a gradual fall and little volatility. This tendency has led many analysts to question the coin's potential for a significant price increase in the foreseeable future. DOGE has primarily trended downward or sideways this year, failing to demonstrate the spectacular growth observed in prior years. Historical data shows that Dogecoin saw tremendous price surges, including gains of more than 30,000% and 6,000% from previous lows.
Dogecoin Faces Correction Amidst Optimistic Long-term Outlook
Dogecoin is repeating prior trends after reaching an all-time high. Typically, after a Bitcoin halving event, DOGE takes eight to nine months to begin a significant rise. With the most recent Bitcoin halving only two months ago, analysts believe that a meaningful breakthrough for Dogecoin may not occur until late 2024 or early 2025.
Despite the low market sentiment, there are signs that DOGE may rise. Analysts believe the present bullish trend may meet corrective pressures, perhaps retracing DOGE's price to the 8-10 cent region. Such retracements have typically been followed by recovery periods and subsequent price rises. Furthermore, Dogecoin's historical association with broader meme currency market moves fuels optimism about its future possibilities. DOGE has historically surged with fresh interest in meme coins, implying that a rise in meme popularity could lead to renewed investor interest and potential price spikes.
While Dogecoin's performance in 2024 has been marked by steadiness and a lack of enthusiasm, market experts and investors remain optimistic about a possible comeback. As the cryptocurrency market changes and external variables influence investor mood, DOGE's future trajectory will be actively watched for signs of fresh bullish momentum.
#CryptoPCEWatch #MtGoxJulyRepayments

The post "Solana Introduces ZK Compression to Boost Scalability" first appeared on 36crypto.com News.
Solana is now positioning itself to change the face of blockchain by implementing Zero-Knowledge (ZK) proofs on top of layer one (L1) blockchain. Also known as Layer 2 Scaling Solutions, this newer approach can boost scalability efficiency by up to 10,000 times and diminish the costs of on-chain operations. This approach allows #Solana to address one of the most pressing problems in the blockchain industry right now, namely the on-chain state compression problem.
Among them, the on-chain state management's lack of extensibility results in imposing some of the traditional constraints on platforms such as Solana. However, the numerous costs incurred in maintaining and evolving the on-chain state have been challenges to extending applications SCs coherently. Solana's use of ZK compression on L1 minimizes these challenges because the computation occurs on the main chain. The scaling of applications makes this move helpful to developers in extending a strong foundation for an application that shouldn't require another scaling service.
Solana Revolutionizes with ZK Compression Paradigm
It is essential to distinguish that using the ZK compression paradigm does not only lie in computational benefits. Minimizing the on-chain state means that Solana opens the door for broader adaptation of those solutions and continuous innovation in its ecosystem. That means developers can now unlock a whole range of prospects, as they may tackle complicated applications and use Solana's improved scalability at a much lower cost. For instance, the cost of airdrops could drop from $260,000 to just $50, transforming blockchain economics and making it more accessible for both developers and users.
With the integration of Quantitative ZK compression, scaling can be seen as the most rapid advancement on the Solana blockchain. It solves their issues, like cost and effectiveness, which have made the decentralized applications challenging to implement. Such activities of Solana depict increased confidence in making blockchain suitable for different purposes.
In the future, Solana, for instance, will hint at some aspects of its adoption of this new form of technology. However, this has been fostered by a community of trusted developers, and features such as Firedancer and async execution are still being developed. It is worth noting that Solana embarked on trying to make their network even more scalable and efficient. Besides, this strategic decision enhances Solana's competitive edge and cements the firm's commanding position within the blockchain market.
Blockchain work caters to a promising advancement in the building of blockchain framework
In this regard, the organic integration of ZK compression in Solana's L1 setting can be labeled as one of the most significant breakthroughs for blockchain scalability. This way, Solana ensures the density of on-chain data and helps developers make DApps more effective by cutting expenses. Thus, in the development of the ecosystem, Solana shows the density and inventiveness to build the future of blockchain.
These goals will enable Solana to expand beyond its current niche and become the go-to platform for scalable, low-cost, decentralized applications. The decision to implement ZK compression directly on the L1 is also part of Solana's approach of always striving to remain ahead of the curve when incorporating new solutions within the context of blockchain technology. With this development, Solana firmly establishes itself in the continuous transformation and expansion of the crypto ecosystem to address the growing customer base.

The post "Igloo Inc. Forms to Enhance On-Chain Crypto Experience" first appeared on 36crypto.com News.
Igloo Inc., a newly introduced parent company, unites the famous NFT brand Pudgy Penguins and the leading #NFT​ licensing platform OverpassIP. It is a significant collaboration that changes the perception and experience of new crypto users when using digital assets. The company's mission is to directly onboard as many users as possible to the blockchain layer to advance the consumer crypto movement.
Contrary to most projects, Igloo focuses on enabling the everyday use of cryptocurrencies by improving the user experience on the blockchain. Calling it simplicity, Igloo has laid out its marketing strategy to make the cryptocurrency product as appealing to as many people as possible.
Pudgy Penguins is the Flagship Brand
Pudgy Penguins, established in 2021, will act as the primary or keynote brand to Igloo's ecosystem brands. The NFT project has evolved from being just an unorganized sector where people reproduce their work and sell it as art, NFT brands are now well-formed brands that not only seek to operate in the digital world but also evoke emotions from the viewers. It is argued that this hostility is fundamental to developing much-needed trust and familiarity with crypto.
To this effect, Pudgy Penguins has agreed with Walmart stores and Target. Also, in 2020, the project declared a partnership with Mythical Games – an experienced game developer, to create engaging video games based on a mobile application. The titles of these games are still upcoming and will undergo a soft launch in 2025.
The current data shows Pudgy Penguins' floor price is around 9.13 ETH, equivalent to $30,700. Market capitalization is within the region of $274 million, and the actual volume of transactions over the last 24 hours equals $ 1mln for the NFT project. These figures show that Pudgy Penguins are now a major player in the NFT space and are making a significant impact.
Future Plans and Vision of Igloo Inc
Igloo Inc. aims to establish a long-term blockchain environment for the firm and its partners. The company's idea is to expand the number of available features shortly to achieve the company's ultimate mission of creating a one-stop-app-design experience. This campaign seeks to push cryptocurrency into the future, where it is easily understandable and enjoyable.
By focusing on the on-chain experience and leveraging the popularity of Pudgy Penguins, Igloo Inc. is poised to play a pivotal role in the consumer crypto revolution. The company's strategic partnerships and innovative approach highlight its commitment to enhancing the crypto experience for newcomers and seasoned users.

#CryptoPCEWatch

The post "Bitcoin Poised for Potential Rally Amid Favorable Liquidity Conditions" first appeared on 36crypto.com News.
Bitcoin, despite trading at the lower levels of its monthly range, is showing signs of potential upward movement. The current distribution of liquidity suggests a favorable environment for price growth. A chart indicates that the highest selling pressure exceeds the $70,000 threshold. Consequently, a reversal is likely with the introduction of some buying volume.
Bitcoin Poised for Sharp Price Upswing
This is why liquidity in the $ 70,000-$ 80,000 bracket shows a highly skewed claim on liquidation leverage. This means that once it rises, it can move to these high-liquidity zones quickly, thus drawing investors. Therefore, below the indicated levels, selling pressure decreases, hence providing a background for price increases.
Currently, support for #bitcoin☀️ is around $57,000, just above the 200-day moving average. This technical support level is essential for sustaining more optimistic trends. It remains crucial for Bitcoin to maintain this level of support and attract buyers again toward the target price of $72,500 and above.
Thus, massive buying might initiate a flamewar that would lead to the activation of Stop Out Level and force-collar at $70,000, with ample buying available at that level. Studying Bitcoin's history and movements in the market, people have understood that the upsides in the overall liquidity lead to sharp upswings in price. Therefore, a high volume of buying and sentiments pointing to the upward market could be considered factors that could help drive this trajectory.
Current Trends and Ability to Forecast
Even though the current market indicators point to bear-dominated markets, the liquidity levels hint at a reversal. Both traders and investors should watch any buying signals and other barometers of the start of this expected move. In this context, it is necessary to focus on the changing nature of the market's liquidity, which is one of the critical aspects. As we can see, there is ample risk above $70,000, yet enough buying pressure can push the price quickly.
Furthermore, past experiences and market tendencies suggest that while sides are significantly tilted to the topside, Bitcoin increases tremendously in value. This increase in buying volume and better market sentiments may enable this ascending pattern.

#MtGoxJulyRepayments

The post "Mt Gox Set to Distribute Bitcoin and Bitcoin Cash to Creditors in July 2024" first appeared on 36crypto.com News.
In a significant development for cryptocurrency stakeholders, Mt Gox has announced that it will begin distributing Bitcoin and Bitcoin Cash to its creditors starting July 2024. This decision came after a long restoration period after the platform's distressing failure in 2014, which caused turmoil in the global landscape of cryptocurrencies.
The process of repaying the invested amount will be lengthy, along with handling large numbers of creditors, and it is estimated that thousands of individuals will have their stakes in the digital assets. There was a high-profile failure of Mt Gox, a famous digital currency exchange platform, that lost 850,000 #Bitcoins due to a cyberattack, raising questions about the safety standards of the Bitcoin exchanges. But now, after ten years, each holder will recover about 140,000 Bitcoins that belong to them.
The repayment plan, confirmed by Mt Gox's trustee, involves a structured release of funds that ensures equity and transparency. The creditors can get paid in Bitcoin, Bitcoin Cash, and any other fiat currency;" the choice is theirs. This heuristic was applied purposely due to flexibility in the existing policies that aim to meet the needs of the affected parties.
However, this repayment exercise is among the elements of the rehabilitation program adopted by the Tokyo District Court in 2018. Since then, many procedural issues, apart from the natural obstacles, have hindered the repayment, and many logistical factors have delayed it. But then the trustee's office cleared all obstacles for payment, and distributions are beginning as planned.
Increased security measures have also been adopted to ensure that the distribution process is not interrupted. Extensive cryptography techniques are believed to help protect the disbursement process from cybercrime. Further, robust and perennial surveillance and live reporting will guarantee that the process will continue operating in an open and protected style.
Mt Gox Case Could Mark Turning Point
Before the date of distribution, the trustee guarantees that all the repayments will be made strictly following legal provisions governing the payment systems under the laws of Japan. Creditors have been encouraged to enter their account information with their various banks and to confirm all their details so that there is an orderly transfer of the funds.
Furthermore, the decentralized finance community considers the future of cryptocurrency an opportunity to revive investors' lost trust in the central digital asset exchange. Given historical misfortunes, the successful completion of the Mt Gox case could prove to be a turning point in the safety and soundness of #cryptocurrency and its handling.
#MtGoxJulyRepayments

The post "Circle CEO Jeremy Allaire's Optimism on the Future of Cryptocurrency" first appeared on 36crypto.com News.
Circle CEO Jeremy Allaire has been leading the company behind the #USDC✅ stablecoin for 11 years. According to him, now is the time when he is most optimistic about the future of cryptocurrencies. Why exactly now? He explained this in his recent post at X. 
Allaire's View on the Crypto Market
Jeremy Allaire explains that his view on the crypto market is based on the experience and knowledge of 35 years of observing the life cycles of Internet technologies.
“We’ve seen an unrelenting march of open networks, open protocols, and open software, with layer upon layer of infrastructure on the internet that deepens its utility for society and the economy,” he says.
Allaire points out that the Internet used to lack trust, without which it was limited in terms of the utility it could provide to the world. There was no way to fully trust data, transactions, or computation, leading to a deepening dependence on hyper-centralized structures (corporate and government). However, the role of the Internet in society was increasingly growing, and its ability to perform an increasingly important function in the organization of society and the economy was evident.
He notes that after the emergence of #Bitcoin developers began to think more deeply about how they could extend the foundations of cryptocurrencies to provide a more generalized Internet infrastructure that could become fundamental to society and the economy. 
Allaire sees the current state of cryptocurrencies as a new layer of Internet infrastructure that adds an important component of trust that was not previously present. He argues that this allows the industry and the technology behind it to significantly impact social and economic functions.
“This is what drew me into this space” Allaire notes.
The Future of Cryptocurrency
Allaire noted that he is particularly interested in breakthroughs in ZK technology in modern industry. He envisions a future where cryptographic computing is at the heart of important applications across a variety of industries. Over the past two years, this technology has been increasingly perceived as an important part of solving the blockchain trilemma by supporting scalability and interoperability without compromising privacy.
Currently, zkSync is one of the most popular ZK Layer 2 projects in 2024. The coin has gained popularity due to its technical advantages that help ensure speed, efficiency, and privacy for Ethereum users, making it a key player in the development and integration of blockchain applications. Currently, zkSync is available for trading on many cryptocurrency exchanges, including Gate.io, OKX, WhiteBIT, and others.
He also pointed out the growing recognition of digital assets in the global financial system, as well as the fact that clear regulatory frameworks are emerging around the world. 
“Bitcoin has become one of the largest and most important alternative investment assets on the planet,” Allaire says.
He added that the largest asset management companies are now offering blockchain-based products and services, including direct regulated access to Bitcoin through spot and futures exchange products around the world.
Aller also emphasized the widespread adoption of stablecoins, which he considers the "killer app" of cryptocurrencies. He predicted that by the end of 2025, stablecoins will be legally recognized as digital currencies in almost all major jurisdictions, potentially transforming the market.
Conclusion
Jeremy Allaire believes that the current moment is the most important for cryptocurrency technologies and their future role in society and the economy. His many years of experience observing the development of Internet technologies allows him to view cryptocurrencies as a new stage of the Internet infrastructure that brings the necessary component of trust to expand their influence on global finance and technological progress.

#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide

The post "Tether to Discontinue Support for USDT on EOS and Algorand" first appeared on 36crypto.com News.
Tether Inc, the issuer of the largest stablecoin by volume, USDT, has announced that it will cease issuing the stablecoin on the EOS and Algorand blockchain. This development is part of a broader strategy taken by the company to maintain a robust and innovative blockchain ecosystem.
Tether keeps to this standard by continually assessing the current transport layers, in a bid to strike a balance between maintainability, usage, and community interest. After checking these factors, the crypto firm has resolved to discontinue its services on the aforementioned blockchain effective immediately.
EOS and Algorand Did Not Meet Tether Security Assessment
According to the released statement, Tether considers the interest of the crypto community, stressing that it plays an important role in choosing specific blockchains for USDT. Tether evaluates factors like the network’s security architecture to guarantee the safety, usability, and sustainability of the blockchain before integration. However, after careful assessment, the company has decided to cease support for EOS and Algorand blockchains.
Per the statement, Tether will stop minting USDT on the aforementioned blockchain effective June 24. Additionally, Tether has assured the public that it will continue redeeming USDT on EOS and Algorand till June 2025.
"Tether will continue to redeem USD₮ on EOS and Algorand as usual for the next 12 months. Further changes may be evaluated and announced around that time," the statement reads.
The company promised to continue supporting protocols and blockchains that the community finds useful. #USDT users who use the affected platforms are assured of a smooth transition with minimal disruptions. Tether maintains that its goal is to deliver a good user experience, emphasizing its commitment to facilitating a seamless transition.
With a reserve amount of $18 trillion, there is only $17 million USDT among 39,000 investors in Algorand, based on on-chain data. There are 32,000 holders of $85 million USDT coins on EOS. These figures are incredibly low for the $112 billion market cap token when compared to other chains.
Following this removal, USDT is now available on the following blockchains; Avalanche, Celo, Kava (Cosmos), Ethereum, Liquid Network, NEAR, Polkadot, Solana, Tezos, TON, and Tron. Notably, Ethereum and Tron hold the major supply of the stablecoin.
#MtGoxJulyRepayments #CryptoPCEWatch #MicroStrategу #BinanceTournament

The post "Over 85 Million XRP Moved To and From CEXs Amid Price Drop, What is Happening?" first appeared on 36crypto.com News.
XRP, the fifth-largest cryptocurrency by market cap, has made headlines again this week after a substantial amount of the coins, up to the tune of 85 million were reportedly shifted between centralized cryptocurrency exchanges. Interestingly, this comes amid a significant decline in the price of the asset today, June 24. Consequently, this has raised concerns about the XRP future price projection, as investors continue to hope for a rally above the $0.5 mark. The global crypto market is currently experiencing a downtrend, with the majority of the coins trading in the red zone according to the crypto heat map.
Whales Move Over 85 Million XRP Across CEXs
According to recent data shared by WhaleAlert, a popular crypto large transaction tracker, three significant XRP transactions were spotted over the last 24 hours. Each of these transactions carried at least 26 million coins. Per the data, the first transaction happened approximately 18 hours ago from the time of writing, shifting exactly 30,820,000 (30.8 million) XRP coins from a wallet labeled "unknown" to the Luxebourg-based crypto exchange, Bitstamp.
The value of this transfer was approximately $14.9 million. However, upon further check, it was revealed that the entity behind this transaction was the renowned wallet 'r4wf7...4Rzn' known to move millions of XRP to Bitstamp and Bitso exchanges.

Source: WhaleAlert
Over the past months, this whale has transferred staggering amounts of XRP to and from the aforementioned exchanges. While many speculate that the whale is associated with the issuing company Ripple, others say that it might be a large investor selling off his holdings.
Following this, another transaction carrying 26,234,427 XRP (worth $12.4 million) from Binance, the world's largest cryptocurrency exchange by trade volume, to an unidentified wallet was spotted. Shortly after, the same whale moved another 28,218,783 XRP (valued at $13.5 million) to another anonymous wallet.
Importantly, when cryptocurrencies of such amounts are moved to a crypto exchange, it is generally seen as a sell-off, however, when they are transferred from a crypto exchange to a wallet, it is often interpreted as accumulations, signaling confidence in the future outlook of the project. While the reasons behind the transfer are unknown, it is sure to have caught the interest of market participants.
XRP Price Declines Amid Whale Movements
Meanwhile, the price of XRP has exhibited consolidation over the last month, trading within a certain range. According to data from Coinstats, the XRP is currently trading at $0.481, signifying a 0.69% drop in the last 24 hours. While the price of the asset is taking a nosedive, the trading volume over the last day has surged significantly. Per the data, XRP's 24-hour trading volume has skyrocketed by 178.74% to $1.09 billion.

Additionally, #XRP has been trading between the lows and highs of $0.4682 and $0.4842 in the last 24 hours, and between $0.4702 and $0.5174 in the last 30 days. This price represents an 85.9% decrease from its all-time high of $3.40 attained on January 7, 2018. Lastly, the derivatives volume increased by 364.09% to $1 billion, and XRP's futures open interest (OI) surged by 3.26% to $575.95 million.

The post "Metaplanet Inc. Announces Major Bitcoin Purchase Through Bond Issuance" first appeared on 36crypto.com News.
Japanese investment firm Metaplanet Inc. saw a significant rise in its stock price, jumping over 12% on Monday morning. This surge resulted from the company’s revelation that its board of directors has endorsed a decision to buy one billion yen worth of bitcoins, or approximately $6.26 million. The funds for this acquisition will be generated via an upcoming bond offer to be floated soon.
On Monday, the Tokyo-listed company announced its intention to purchase more Bitcoins through a statement. This will be done through the public offering of a second series of guaranteed ordinary bonds. The 1 billion yen bonds will also be registered, with interest at the rate of 0. 5%, and will mature on June 25, 2025. The bonds are due for payment on June 26, 2024. Buying Bitcoin will use the funds that will be raised through the public, said Metaplanet.
Stock Surge and Previous Bitcoin Investments
Google Finance said Metaplanet’s stock surged approximately 12.2% in the morning session. This recent move to issue bonds for #bitcoin purchases follows the company’s acquisition of an additional 250 million yen earlier this month. The firm said it had about 141.07 BTC on June 11 after releasing its first-quarter earnings report. Data from Bitcointreasuries also confirms that Metaplanet had bought bitcoin on April 23, May 10, and June 11.
The economic conditions in Japan led the company to navigate its strategic management by using Bitcoin as a treasury reserve asset. So, in May, Metaplanet officially declared the company’s treasury management strategy change.
Purchasing Prospective and Key Strategies
The actions of Metaplanet can be seen as an indication of an increasing trend of using cryptocurrencies as part of various companies' treasury reserves. Some companies like Metaplanet consider it possible to use bonds to obtain capital to invest in bitcoins, specifically to purchase bitcoin with the hope of long-term profitability of digital currencies.
To sum up, it is rather sensible to consider Metaplanet Inc.’s idea to use bond issuance to acquire bitcoins - evidence of the new efficiencies in corporate finance approaches. The latest bond offering immediately followed by buying bitcoins shows that Metaplanet is not averse to experimenting with its financial aspects.

The post "The Future of Money: Insights from Coinbase Latest Report" first appeared on 36crypto.com News.
"Crypto is the future of money," Coinbase emphasizes in its latest report, “The State of Crypto”. It notes that during the first quarter of 2024, Fortune 100 companies announced a record number of blockchain and Web3 initiatives. However, the biggest obstacle for them was the lack of reliable specialists and the necessary skills. In addition to this, the declining share of American crypto developers further aggravates the situation. Currently, only one out of four developers is from the United States, which is 14% less than in the last five years. But despite this, interest in blockchain technology remains high.
Crypto Helps to Update the Financial System
#Coinbase draws attention to a significant reduction in the number of crypto developers in the United States. Executives of Fortune 500 companies are concerned about the lack of reliable specialists, seeing this as a bigger obstacle to the introduction of cryptocurrencies than regulatory issues.
At the same time, small businesses are interested in finding cryptocurrency-savvy candidates for future positions in technical, financial, and legal departments. About 68% of respondents believe that blockchain and cryptocurrencies can solve financial problems such as processing time and transaction fees.
“The market infrastructure on which we have been issuing, trading, and wrapping assets into portfolios is 50 years old... What we are starting to see with blockchain technologies is that there are ways to improve that tremendously. There are ways to cut processing times, get more real-time information, and enable 24/7/365 trading because we live in a global world where our businesses operate around the clock.” said Sandy Kaull, Franklin Templeton’s head of digital assets.
Volodymyr Nosov, CEO of WhiteBIT, shares similar views, noting: "Despite the volatility, Bitcoin is gold for the new generation. Young investors won't invest in gold, they believe in the digital age [...] Blockchain is the future that needs to be understood."
Coinbase notes that recent years have been a period of experimentation with on-chain, but technology and financial companies have found the best formula between product and market. In the first quarter, these two sectors accounted for 8 out of 10 on-chain initiatives, which shows an upward trend compared to 2023, when they accounted for almost 6 out of 10. 
In addition, interest in using on-chain technology for customer transactions extends not only to financial companies, but also to the retail, healthcare, and consumer goods industries. These include:
Exploring crypto as a form of payment for remote or global regionImplementing play-to-earn mechanics to enhance the video game experienceLetting healthcare patients and customers use digital wallets to pay for products and serviceAccepting healthcare donations in cryptoBlockchain- and NFT-based restaurant loyalty programs
Rising Interest in Using Stablecoins
After that, Coinbase analyzes how #Stablecoins are gradually beginning to play an increasingly important role in the global economy. In the first quarter of 2024, the daily volume of stablecoin transactions broke records and reached $150 billion. 
Stablecoins mitigate the volatility of popular cryptocurrencies such as Bitcoin, making them more suitable for daily transactions. They are widely used for cross-border payments and trading in other cryptocurrencies.
More than 50% of the surveyed companies noted that the introduction of stablecoins could open up new business opportunities. The relative stability of the stablecoins makes them attractive for companies seeking to avoid the fluctuations typical of other cryptocurrencies. Another reason for the attractiveness of stablecoins is low transaction fees and faster processing times.
Pegah Soltani, Head of Payment Products at Ripple, similarly spoke about cross-border payments worldwide. She explained that payment standards vary greatly from country to country. For example, using SWIFT or TIPS in Europe and FedNow in the US requires different protocols, limiting data quality and detail.
As a result, these systems operate as closed networks that interact inefficiently with each other, requiring significant manual intervention and ultimately leading to an unsatisfactory payment experience.
According to Coinbase, the efficiency and cost-effectiveness of cryptocurrency transactions are compelling arguments in favor of their implementation. In addition, 76% of small businesses express interest in cryptocurrency's potential benefits, indicating a broad willingness to explore these technologies.
Compass Coffee, mentioned by Coinbase in its report, is already actively implementing payments in stablecoins. With many customers switching from cash to cards, the company said it was tired of paying high transaction fees, funds that could be reinvested in the business. That is why it started offering stablecoins as an alternative payment method.
“Accepting crypto payments could be transformational for our business. 
 We hope to help transform retail experiences by accepting USDC” said Michael Haft, Compass Coffee Founder and CEO
Summary
Coinbase's State of Crypto report emphasizes the importance of cryptocurrencies as the future of money. The first quarter of 2024 showed a significant increase in blockchain and Web3 initiatives among Fortune 100 companies, despite the lack of qualified specialists and the decline in the share of American crypto developers. However, despite these challenges, interest in blockchain technology remains high.

#Microstrategy #CertiKvsKraken #BinanceTournament

The post "Martin Shkreli Allegedly Violates Parole Terms by Creating Cryptocurrency Token" first appeared on 36crypto.com News.
A popular crypto influencer, Adam Cochran, recently tweeted that Martin Shkreli, nicknamed "Pharma Bro," violated his parole terms by creating tokens. Cochran also provided information about the terms given to Shkreli, which state that one cannot be self-employed dealing with clients' money or funds.
The fuss is caused by the Solana-based token known as DJT, short for DJ Tucker. Instead, the crypto community suggested that Erapla had affiliations with Donald Trump, specifically his son. However, the guessing ended after Shkreli took to the media, claiming ownership of the token after being presented with a bounty of $150,000 by Arkham Intelligence, who was willing to award any person who could prove they were behind the making of the token.
Shkreli had been convicted of securities fraud and conspiracy in 2017 and was sent to prison for seven years in 2018. In 2022, he got a three-year parole, and he was later moved to community confinement. Crypto analyst ZachXBT explained Shkreli's involvement in the #DJT token. The South African citizen was fired after six weeks, and the former stock trader, Steve Madden, returned to the company.
Shkreli Allegedly Violated Parole
In his post, ZachXBT explained that he took the bait offered by Arkham Intelligence, and STM's bounty had Shkreli panic in a direct message to him that he has 'over 1,000 proofs on the creation of DJT token'. After that, Shkreli opened a space on X, saying that he had issued it with the help of Barron Trump. He said this, uncertain whether the Trump family would support his testimony.
Nevertheless, Cochrn's focus on the legal consequences of Shkreli's deeds captured everyone's attention. The court barred Shkreli from being involved in any form of financial activity and, therefore, the funding source for the DJT coin, which had a reported link with Shkreli's offshore Kucoin account. Cochran said these things about Barron: "So either he went to jail for fraud, or he sought out an investment deal for Barron and then went to jail for violating his parole."
The revelation has elicited much debate among cryptograph users and the public domain. This explains that if Shkreli is found to have violated the parole conditions aimed at any business involvement after the fraud conviction, he is subject to legal repercussions.
All in all, Shkreli's creation of the DJT token raises a set of legal concerns. The case illustrates the continued watch placed on those who have committed offenses related to financial fraud and their plans for engaging in cryptocurrencies.

The post "XRP Community Outraged Over SEC's Favoritism Towards Ethereum" first appeared on 36crypto.com News.
The #XRP community is expressing outrage over what they perceive as the SEC's favoritism towards Ethereum, sparking calls for legal action. Such controversy arose due to the recent act of the SEC to dismiss the suit that challenged the security aspect of Ethereum in parallel with approving a physical Ether-based ETF. This action has raised a bitter comparison with the ongoing legal struggle that Ripple has against the US SEC, increasing claims of regulatory duality.
Some members have especially criticized Bill Morgan, who actively engages in the XRP community and has expressed most of the perceived Helium favoritism. This is further evidenced by the fact that Ethereum was only given a "second pass" nearly half a decade later from the famous Hinman speech at the SEC while not being a security.
XRP Supporters Demand Performance Improvements Now
This has angered XRP supporters, who have demanded improvements in its performance. As the pseudonymous analyst @digitalassetbuy has said, the SEC's actions are criminal, and #Ripple must sue the SEC and its bosses, Brad Garlinghouse and Chris Larsen; the controversy is called "ETHGATE." As a result, the analyst pointed out that Ripple has spent more than $100 million on issues with the SEC during the past three years, while Ethereum has not.
One analyst was struck that the SEC felt compelled to write a letter to ConsenSys if #Ethereum is decentralized. Morgan fired back and declared, "A decentralization factor is also a made-up concept; no one has explained how it applies or why it inherently gets a token, more or less a security or commodity; it is a catch-all phrase that just attempts to argue a token can somehow instantly become a commodity if it falls outside of the SEC's grasp.
Speculations on the SEC's approach to future listings and its inconsistent treatment of cryptocurrencies have kept the topic hot in the crypto community. The XRP community's demand for legal action against such market manipulations and the constant changes in cryptocurrency markets demonstrate that all these have deeper concerns about legal regulation and the legal developments underlying the issue.

The post "Convex Finance (CVX) Price Surges Over 100% Amid Record-Breaking Trading Volumes" first appeared on 36crypto.com News.
#ConvexFinance (CVX) has experienced a remarkable price surge, increasing by over 100% within 24 hours. This has been synchronized with the Record Trading Volumes across the world's top cryptocurrency trading platforms.
On June 16, the post of crypto analyst Wu Blockchain, CVX/USDT spot trading had a new daily record trading volume of nearly $32 million on Binance. Bybit also recorded significant activity, with CVX USDT perpetual contract trading volume hitting $120 million.

This surge in CVX's price follows insights from crypto investor CrediBULL Crypto, who shared their journey with Convex Finance. The said investor began to acquire the CVX in early 2021 at roughly $5. Thanks to the bi-weekly "bribes or incentives' represented by high APR, which has attracted people to start staking in CVX as the holders are rewarded bi-weekly, Many CVX holders have been able to recover their initial investment within a year. These incentives offered practically 30% APR and increased with it as the price rose, allowing the investor to get back the funded amount in a shorter time than calculated.
Although already having gone high up to $60, #CVX had a decrease and settled at $2; thus, taking advantage of this situation, the investor decided to triple his position in the company and bought it at $ 2 to achieve the targeted position. Since the APR is still approximately 25%, the investor hopes to recoup their investment within the next five calendar years while holding much more of it as they patiently await higher new record highs to reap future gains.
Renewed Interest in Convex Finance Amidst DeFi Growth
Long-term investors' trading activity and opinion towards Convex Finance demonstrate interest in the digital asset. The advancement comes when increasing emphasis is on yield amplifiers and DeFi platforms.

Convex Finance (CVX) currently trades at $4.03, with a 24-hour trading volume of $174,861,508.83. The digital asset has increased 82.40% in the last 24 hours and 68.87% over the past seven days. The rising price of CVX and trading volume signal the community's desire to invest more in DeFi solutions. New-generation platforms like Convex Finance can benefit genuine investors seeking significant returns. This increasing attention on DeFi is evident, as this sector can revolutionize the present financial services businesses and deliver yield-generation options.

Convex Finance's recent performance reflects a broader trend within the cryptocurrency market, emphasizing the importance of DeFi platforms. CVX's potential for future growth remains strong as it attracts significant trading volumes and investor interest.