Sony is entering Blockchain Technology! Soneium #Blockchain.
What is Soneium Blockchain? Sony's Entry into Web3 and How to build on the Minato Testnet Introduction to Sony's Blockchain Venture: Soneium Sony has entered the Web3 space with the Soneium blockchain, marking a big step in using blockchain technology. Created by Sony Block Solutions Labs (Sony BSL) and Startale Labs, Soneium aims to connect blockchain with everyday applications. The Soneium Minato public testnet and the Soneium Spark incubator are key parts of this plan, helping to drive innovation and Web3 adoption. Understanding the Soneium Blockchain Soneium is a layer-2 blockchain on Ethereum, offering a fast and cost-effective environment for developers. It is 100% compatible with EVM, is scalable, and efficient, making it suitable for entertainment, gaming, finance, and more. Unlike older blockchains, Soneium solves slow speeds and high fees, making it more user-friendly. It can be used in many areas, like improving Web3 games and NFT markets or supporting decentralized finance (DeFi). By leveraging the Op Stack and Superchain from the Optimism Foundation, Soneium provides a strong and scalable setup for developers to innovate. Exploring the Soneium Minato Public Testnet The Soneium Minato public testnet is a testing space for developers to build and test apps without risking real assets. Developers can use this space to improve their apps before the mainnet launch, ensuring a smooth transition. Potential Use Cases and Applications for Soneium Soneium's blockchain platform offers many possibilities in different industries. In entertainment and media, it can improve content distribution and rights management, creating new revenue for creators.The gaming industry can benefit from NFT integrations and decentralized game mechanics, offering true ownership for players.Supply chain management can use Soneium's transparency to improve operations.In finance, Soneium supports DeFi apps, enabling secure transactions. Conclusion: Embracing the Web3 Future with Sony and Soneium In conclusion, Soneium is a major step in Sony's effort to shape blockchain's future. With Soneium, Sony is not just embracing Web3 but actively shaping it, leading to a new era of technology. #GlobalCooperation #bitcoinâď¸ #ETHETFsApproved #GlobalMarket
US Govt Move $2 Billion worth of Bitcoin from its Silk Road crypto stash.
The United States government has stirred the crypto community by moving over $2 billion worth of Bitcoin from its Silk Road crypto stash. The recent Onchain activity by the US government followed a speech by Donald Trump at the Bitcoin conference about his plans to halt the United States selling of its BTC assets if elected.⯠The Onchain activity by the US government also sparked speculations amongst the crypto community over fears of a potential sell-off of BTC assets by the US government. If this happens, the Price of Bitcoin will be affected.⯠The transaction by the US government was picked up by blockchain analyst firm Arkham Intelligence who alerted the crypto community with a post shared on their X page.⯠âBREAKING: The US. The government just moved $2B of Bitcoin to a new address: bc1qsl993y04xnq4fyhmrt6cnmctgjjv9ukdvrk0cdâ Arkham tweeted.
Arkham also went further to describe that the transactions were made in two batches of $669 million and $1.33 billion. The funds according to Arkham were been moved to an institutional custodian with Coinbase being the most likely candidate due to its history with US government-linked wallets.⯠â UPDATE: The U.S. Government has split the $2B Bitcoin into two addresses: 10,000 BTC ($669.35M): bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek 19,800 BTC ($1.33B): bc1qngydl7hmgdtmuqjmtsyj3pcwszv0yn5mj6kz4c We believe this represents a 10,000 BTC deposit to an institutional custody/serviceâ Arkham added⯠Bitcoin declined about 1% following the transaction after it almost hit $70,000 for the first time since May.⯠Crypto Community Reacts to the Transaction⯠The crypto community especially Bitcoin enthusiasts showed concern about the recent move by the United States. The movement of over $2 billion in BTC assets points to a potential sell-off plan by the US government which created some negative sentiment in the market.⯠The development followed pro-bitcoin speeches and the promise by Donald Trump to Halt the sell-off of BTC assets owned by the US government if elected.⯠Tyler Winklevoss, co-founder of Gemini and one of the Winklevoss twins aired his opinion on the development pointing out the contradictory stance of the current US administration.⯠â On Saturday,@realDonaldTrump pledged to never sell any of the US governmentâs bitcoin. Two days later, the Biden-Harris Administration moved $2 billion of Silk Road bitcoin. Great look and a great way to reset with our industry.â Tyler posted on X⯠How is Bitcoin faring at theâŻmoment?⯠At the time of the report, Bitcoin is exchanging hands for $66,552, a 4.3% drop in price in the last 24 hours with a maximum price of $69,907 and a minimum price of $65,911.⯠The crypto asset is down 9.5% from its all-time high of $73,737 which it hit on March 14.⯠What toâŻKnow⯠Bitcoin over the weeks has fully recovered from the selling pressure of the German government offloading about $50,000 BTC resulting in Bitcoin price falling as low as $54,000.⯠The current activity by the United States government has sparked speculations about another round of sell offs which could negatively impact the price of Bitcoin $BTC
Bitcoin started the week nursing a slump that stoked fears of outflows from dedicated US exchange-traded funds. Instead dip buyers poured in cash, a pattern that for some points to a less volatile token longer term.
A net $737.5 million was added to the 11 ETFs in the four days to Thursday, steadying Bitcoin near $58,000 after a drop to $53,602 on July 5 amid sales of seized tokens and fears of disposals by creditors of the failed Mt. Gox exchange. Market participants argue the ETFs from titans including BlackRock Inc. and Fidelity Investments offer the type of bedrock demand that can temper price swings. The six-month-old portfolios have amassed about $51 billion in assets â more than 4% of Bitcoin supply â and feature hedge funds and wealth advisers as top holders. Such specialist institutions are a contrast to the individual investors lured to crypto in earlier years as a get-rich-quick trade. âThe increasing institutionalization of Bitcoin ownership will, over time, lead to decreasing volatility,â said Richard Galvin, co-founder of hedge fund DACM. Products like ETFs introduce a category of investor that is âmore likely to undertake counter-cyclical buying,â he added.
Declining Trend Gauges of Bitcoin swings have already trended lower in the past decade, though they remain higher than for assets such as stocks or gold. For example, the gap between 180-day measures of realized volatility for the token and the yellow metal has narrowed by over 100 percentage points during the period to 28 percentage points. âWhenever the gold price falls, there are many value buyers such as bullion dealers, jewelers and central banks, who buy the dip enthusiastically,â said Charlie Morris, chief investment officer at ByteTree Asset Management. âThese value buyers naturally help to quash volatility. With early institutional adoption, Bitcoin has seen growth in value buyers.â The token still periodically traverses wide price spans during a trading day â so-called range-based realized volatility â and that may spur a perception of Bitcoin as considerably more skittish overall than other assets, according to a study posted on the CFA Instituteâs Enterprising Investor forum. âWeâre a long way from Bitcoinâs volatility dropping to a level where it loses its appeal to traders,â said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider Orbit Markets. âIts volatility is still higher than almost any traditional asset.â
Shiba Inu Developers Outline Future Plans In First-Ever Interview
Shiba Inu Developers Outline Future Plans In First-Ever Interview The once anonymous leaders, Shytoshi Kusama and Kaal Dhairya, of the worldâs largest decentralized community, Shiba Inu (CRYPTO: SHIB), have broken their silence in their first-ever interview with Arabian Business. What Happened: After weeks of negotiations and security protocols, the interview occurred in a cafĂŠ at 3 a.m. in the morning. Both Kusama and Dhairya remained completely concealed during the interview and the subsequent photoshoot. Once an Uber driver in Los Angeles and a food delivery courier in New York, Kusama, and Dhairya now helm the second most-traded cryptocurrency in 2023, second only to Bitcoin. Under Kusamaâs leadership, Shiba Inu has seen its valuations swing between $10 billion and $41 billion. Their ambition is to make Shiba Inu the worldâs first trillion-dollar decentralized entity. Currently, less than 5% of the world is on crypto. They predict that memes will be the gateway to crypto and blockchain while Shiba Inu will be the brand that will lead the world from Web2 to Web3. Kusama added that by the end of 2024 they will hand everything over to the community and we step away. He stated that there will be committees of people who will lead certain things. Why It Matters: Shytoshi and Kaal revealed that Ryoshi had a specific plan to create five tokens (SHIB, BONE, LEASH, TREAT, SHI) and multiple pieces of technology. He initially assumed if someone could build all these things, then it could overtake Dogecoin. "That was also the plan â he was the Dogecoin killer.". Arabian Business reported, citing Dhariya, that SHIB is all about creating memes and that is what they want, "People build their things with it, and our job is to give them the ability to amplify their message." Kusama noted that while people think they are just a meme but they have a structure that can let them do business with anyone in this world. #meme #shiba #doge⥠$SHIB
Over 140,000 BTC, worth around $9 billion, were transferred from Mt. Gox wallets to an unknown address in thirteen transactions, possibly as part of a plan to repay creditors by October 31, 2024.
PayPal's PYUSD stablecoin supply has grown by 90% after it expanded to the Solana blockchain in May, with its market capitalization surpassing the $500 million mark as of July 8. According to DeFillama data, PYUSD's total supply on Solana and Ethereum has reached approximately $520 million on July 8. A breakdown of its supply across the two chains shows that $399 million, representing 77% of the total supply, is on Ethereum, while $118.65 million, equivalent to 23% of its supply, is on Solana. However, further analysis of the data shows that its adoption on the Solana network is rising, with the supply on the network rising roughly 58% during the past week. In contrast, PYUSD supply on Ethereum dropped 6% during the same period. Unsurprisingly, the increased supply and improved adoption also boosted its trading volume. Data from Visa and blockchain analytics platform Allium Labs shows PYUSD's weekly transaction volume exceeded $500 million at the end of last month, up from previous averages of around $150 million. This rapid growth prompted Solana developer Paul Fidika to describe PYUSD as a "sleeper hit on Solana" because it bolsters the blockchain network "as a legit financial alternative". Market observers noted that PYUSD's integration with leading Solana-based DeFi protocols is helping it build an ecosystem on the blockchain network. Solana has one of the largest thriving DeFi ecosystems, with the total value of assets locked on it ranking among the top five in the industry, according to DeFillama data. The stablecoin is available on major Solana-based DEXS Jupiter and Orca, which are reportedly introducing new products designed to encourage its use. Furthermore, the stablecoin has also been integrated into Solana's largest lending and liquidity protocol, Kamino Finance. Tom Wan, an analyst at 21 shares, pointed out that the DeFi platform offers a 23% annual percentage yield (APY) on PYUSD, which has proven attractive to investors seeking yield opportunities. #money #sol #payment #btc
Global crypto trading is only just beginning to take off, as a study from CoinWire predicts that industry trading volume will exceed $108 trillion by the end of 2024. The study revealed that the end-of-year estimate is 90% higher than in 2022. The United States leads with the highest projected crypto trading volume for the year, surpassing $2 trillion. While the US may lead in crypto trading volume, Europe leads the market in global cryptocurrency transaction value, accounting for 37.32%. Europe is one of the most proactive regions in the world when it comes to defining its cryptocurrency industry through regulations. These regulations are designed to help lawmakers understand financial technology and provide traders and exchanges with clear guidelines for navigating the market. The European Union's landmark Markets in Crypto-Assets Regulation came into partial effect on June 30, focusing on stablecoins. In December, additional regulations for crypto asset service providers are set to come into effect. This legislative framework, which has been in the works since 2020, is the EU's first set of uniform market rules for crypto assets. The survey expects Europe's cryptocurrency trading volume to hit $40.5 trillion in 2024, a 2.7-fold increase from its $15 trillion in 2022. Asia ranks second with 36.17% of the world's cryptocurrency transaction value. The conclusions found in the study were made by analyzing centralized exchanges with trust scores higher than six on CoinGecko based on web traffic by country, supported languages, headquarters location and trading time zones. Another finding revealed that Binance dominates in over 100 countries worldwide in the crypto exchange market, with a trading volume of $2.77 trillion. Binance.US was also dominant in the same number of countries, although it has a lower trading volume of $3.9 billion. According to the study, this makes Binance the most âwidely usedâexchange worldwide. The exchange celebrated its seventh anniversary and global user exceeds 200 million worldwide. #trade #CryptoDecision #BTCâ #eth
A bipartisan group of United States senators has renewed efforts to push through laws that will ban members of Congress from trading stocks. In a July 9 letter to House Speaker Mike Johnson and Democratic Leader Hakeem Jeffries, a bipartisan group of 20 senators proposed an amendment to the Stop Trading on Congressional Knowledge Act c 2012 to stop lawmakers from stock trading. âCongress should not be here to makeabuck"said US Senator Josh Hawley at a press conference. "There is no reason why members of Congress ought to be profiting off of the information that only they get and the rest of the American people don't get." The Senators also noted that 97 members had traded stocks where the committees they oversaw had a direct impact and that members of Congress had, on average, outperformed the S&P 500 by 17.5%. The senators cited a recent investigation that found that one in seven sitting members of Congress had violated the STOCK Act between 2021 and 2023. The proposed amendment to the STOCK Act would ban sitting congresspeople from trading within 90 days of the bill being signed. Additionally, it would ban the sitting president, vice president, and the spouses and dependent children of all sitting Congress members from trading stocks beginning in March 2027. The penalty for violating the new laws would be a fine of 10% of the value of the asset traded, a significant step up from the current penalty, which is just $250 per transgression. "It is abundantly clear that more is needed to stop this type of behavior that is not only unethical but also undermines the public trust in our democratic institutions,â wrote the Senators in their letter. "Members of Congress should be working in service of their constituents, not using their positions to line their own pockets" Senator Golden said in a July 9 statement. Members of the House first proposed major amendments to the STOCK Act in January 2022, in a letter addressed to then-Speaker Nancy Pelosi and Minority Leader Kevin McCarthy. #trade #stock #govt #money
Bitcoin ETFs See Best Weekly Inflows Since May After Price fall
After the price of the worldâs largest cryptocurrency dropped to its lowest level since February a week ago, dip buyers returned in a big way to give Bitcoin exchange-traded funds their best inflows in more than a month.
Spot Bitcoin ETFs took in $882 million during the week ended July 11, with an average of $175 million coming in per day, according to JPMorgan data. Thatâs most inflows since the period ended May 23.
Bitcoin funds of BlackRock and Fidelity led the surge, taking in $403 million and $361 million, respectively. Meanwhile, Grayscaleâs ETF continued its streak of bleeding cash and lost almost $87 million.
This was the second consecutive period of fund growth, with the prior week scoring $166 million of inflows. That broke three weekâs of outflows that saw Bitcoin ETFs lose over $1.1 billion.
The latest wave of ETF inflows comes after the price of Bitcoin sagged below $54,000 on July 5 to its lowest level since February.
The price of the worldâs largest cryptocurrency got hammered amid anxiety that Mt. Gox creditors would offload tokens that they recovered from the failed exchange. At the same time, German authorities began selling over 50,000 Bitcoin that they had seized. The authorities are set to finish liquidating holdings near the end of July, according to a July 10 report from JPMorgan.
The price of Bitcoin hovered around $58,000 mid-day Friday, up more than 8% from the low reached on July 5.
one of the best way to loss money with cryptocurrency is by been greedy and the best way to make money is to invest the money during bull or bear market in other physical assets.