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.

#Alert🔴 #btc #crytpoinfology
bnb

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 “widely used”exchange worldwide. The exchange celebrated its seventh anniversary and global user exceeds 200 million worldwide.
#trade #CryptoDecision #BTC☀ #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. “Congress 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,” 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 world’s 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. That’s 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, Grayscale’s 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 week’s 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 world’s 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.

#write #CryptoDecision
#bitcoin☀️ #ETFs #eth

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.

#BullorBear