Hamster Kombat will help Toncoin surpass XRP in the cryptocurrency rankings

The Open Network proprietary blockchain token #Toncoin (#TON) has seen significant growth this year, fueled by the success of mega-popular Telegram-based games Hamster Kombat and #Notcoin.

These developments have prompted speculation that TON will eventually challenge the XRP token launched by US fintech company Ripple.

According to CoinGecko, XRP has a market capitalization of $25.6 billion, while TON has a market capitalization of $18.4 billion. Altcoins rank eighth and ninth in the market, with the relatively young Toncoin priced just 30% below XRP. Because of this, some analysts predict that TON could overtake XRP in the near future.

According to Coinedition calculation, the price of the XRP cryptocurrency will reach $0.76 by the end of 2024 and $2.50 by 2030. Meanwhile, the forecast for Toncoin is more positive - $20 by the end of 2024 and $55 by 2030.

The current price of XRP equals $0.47, while TON has this figure at $7.23. Based on this prediction, by the end of 2024, the value of XRP will increase by 68% and the value of TON will increase by over 170%. As such, it is highly likely that TON could outperform XRP as early as the foreseeable future.

Since July 2024, TON has risen 448.28%, while XRP has fallen 3.94%. The tremendous growth potential demonstrated by Toncoin could even put the digital asset on the list of the top five digital assets by market capitalization.

Additionally, according to DefiLlama, the total blockchain value (TVL) of The Open Network has risen to $718 million, a significant $21.65 million as of March 2024. Over the past three months, TVL has increased by over 4000%, leaving other decentralized funding protocols behind.

Open Network success has a lot to do with the demand for Hamster Kombat and Notcoin. Given that Hamster Kombat already has a user base of 250 million people and the game-clicker team is already planning a second #Megadrop , the prospects for the TON blockchain look pretty strong.

NEW:🚨 Hackers exploit old Rejetto HTTP File Server versions to deploy #Monero mining malware.

The critical vulnerability allows remote command execution without authentication.

#XMRig, #XenoRAT, and #Gh0stRAT are among the payloads used.

Rejetto warns against using versions 2.3m-2.4.

#CyberSecurity #XMR/USDT

🚀🚀Riot Platforms' Bitcoin Hashrate Increased By 50% in June

Riot Platforms, a major #Bitcoin mining company, saw a significant 50% increase in its hashrate in June, jumping from 14.7 EH/s to 22 EH/s. This boost led to mining 255 bitcoins, a 20% increase from May.

The hashrate surge came from completed miner installations at Riot's Corsicana facility and increased capacity utilization at Rockdale. CEO Jason Les called June a "historic month" as they exceeded their mid-year hashrate target of 21.4 EH/s.

Riot continues to hold all mined bitcoins, with their total stockpile reaching 9,334 #BTC☀ valued at $561.6 million at current prices. However, the number of bitcoins mined in June fell 45% year-over-year due to the April halving event.

With this increase, Riot has become the second-largest bitcoin miner by hashrate, surpassing CleanSpark and Core Scientific. They now trail only Marathon Digital, which boasts a hashrate of 31.5 EH/s.

Riot has ambitious plans for further growth. They aim to increase their total self-mining hashrate capacity to 31.5 EH/s by the end of 2024 and potentially reach 100 EH/s by 2027 or soon after.

In addition to their mining success, Riot also received $6.2 million in power credits in June, showcasing their ability to optimize operations and manage costs effectively.

Despite these positive developments, Riot's stock price (RIOT) fell 1.5% to $9.57 on Wednesday. The stock is down 37.9% in 2024 and 28.3% over the past 12 months, reflecting broader market challenges in the crypto mining sector.

#Write2Earn!

How options expiration will affect BTC and ETH

A huge number of Bitcoin (BTC) and Ethereum (ETH) options are set to expire today, potentially influencing the prices of these leading crypto assets. This expiration marks the end of H1 2024 and is historically the second largest in financial markets.

The expiring contracts represent $1.04 billion in BTC and $501.1 million in #ETH🔥🔥🔥🔥 . BTC's put/call ratio is 0.71, indicating a previously bullish sentiment while ETH's put/call ratio is 0.73, also suggesting prior optimism.

The current #BTC☀ maximum pain point is $57,000, while ETH's is $3,350. Short-term implied volatility for BTC has increased by 10% as recent market indicators suggest a shift towards bearish sentiment.
Bitcoin price has dropped below $55,000, trading at $54,516 with a 24-hour decline of 7.4% while ETH has fallen below $3,000, reaching around $2,800.
Some of the factors contributing to the downturn include #Mt.GOX exchange beginning payouts and the German government selling its crypto assets.

While options expiration can cause short-term price volatility, its effects typically normalize within a day. Traders remain cautious of potential price fluctuations during this period, as increased volatility may impact trading strategies and trigger stop-loss orders.

The Bitcoin Fear & Greed Index fell to 29 from yesterday's 44, signaling more fear and uncertainty in the markets. Social data from Santiment shows the markets haven't been this fearful in Bitcoin's history.

https://x.com/santimentfeed/status/1809070048805597612

The market's reaction to options expiration, combined with current news events, will likely shape short-term price movements for both BTC and ETH. However, long-term trends are generally determined by broader market factors beyond options expiration events.

Cryptocurrency Market Sees Sharp Decline Overnight

The total value of all cryptocurrencies dropped by about 6% in the last 24 hours, reaching $2.12 trillion. On July 4, this value hit its lowest point since early May.

#bitcoin☀️ price fell to $57,630 during European trading hours. Its total value decreased by 4.5% to $1.13 trillion in one day.
Bitfinex experts had predicted earlier this week that Bitcoin would drop below $60,000. They noticed long-term holders were selling their coins on exchanges.

These long-term investors had already sold some Bitcoin in May. They started selling again, causing Bitcoin's price to fall sharply.
Ethereum's price dropped to $3,166, and Binance Coin might fall below $500 soon. Dogecoin's price went down by 8% to $0.111 in a day.

#Shibalnu , another popular meme coin, lost nearly 9% of its value, dropping to $0.000015.

On Wednesday, the U.S. Federal Reserve shared notes from its meeting. They said they probably won't lower interest rates soon. Inflation is still above their 2% goal, which could cause problems for the financial system.

The Fed's decision to keep rates the same makes cryptocurrencies less attractive to some investors. Some experts think Bitcoin's price might drop to $55,000 by the end of the week.

A double top on the #BTC☀️ weekly chart and the price just broke below the the crucial $60,000 neckline. 3 days remain until the close of the weekly candle and then we'll know what's up.