Ripple, the company behind XRP, is scheduled to release another 1 billion XRP tokens on July 1st. This is a regular event for Ripple, but it can drive down the price of XRP because it increases the number of tokens available for purchase.

Ripple has been doing this since 2017, releasing 1 billion XRP every month on the first day. They use specific accounts to manage these releases.

In July, 500 million XRP will come from two accounts and another 500 million from a different account.

This July release is part of a larger trend. In June, Ripple not only released the usual 1 billion XRP, but they also added an extra 200 million, making it their biggest sell-off ever. They then sold most of these extra tokens throughout the month.

Historically, these Ripple sell-offs tend to hurt the price of XRP. In fact, so far in 2024, only a few days after a sell-off did the price actually go up. With XRP already having a rough year, this July release could put further downward pressure on the price.

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#crypto #cryptocurrency #cryptoawaz #cryptonews #XRP #ripple

Software giant MicroStrategy keeps adding to its massive Bitcoin collection. The company recently bought another 12,000 Bitcoins, bringing its total holdings to a staggering 226,331, worth almost $15 billion. This makes them the undisputed king of corporate Bitcoin ownership.

MicroStrategy's buying spree started in April and continued until June. They paid an average of $65,883 per Bitcoin, spending roughly $780 million in total. This latest purchase strengthens their belief in Bitcoin's future potential.

With this acquisition, MicroStrategy now controls roughly 1% of all Bitcoins in existence. They've invested a total of $8.33 billion to build this impressive stockpile, averaging $36,798 per Bitcoin. Interestingly, they raised most of the funds for these purchases by selling convertible notes, a strategy they've used successfully before.

MicroStrategy's CEO, Michael Saylor, is a big Bitcoin believer. He sees it as a shield against inflation and a reliable way to store value. This belief has driven the company's aggressive Bitcoin buying strategy throughout the year. Their stock price reflects this strategy too, soaring over 345% in the past year, despite a recent dip.

MicroStrategy's dedication to Bitcoin is clear. They've strategically acquired a massive amount of Bitcoin, funded by convertible note offerings, and are now the world's leading corporate Bitcoin holder. Their actions are influencing other companies and paving the way for wider Bitcoin adoption.

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#crypto #cryptocurrency #bitcoin #BTC #cryptoawaz #cryptonews #microstrategy

German government is cashing in on a massive Bitcoin haul they seized from operators of a movie piracy website.

Over the past day, they've sold $195 million worth of Bitcoin, likely through major exchanges like Coinbase and Kraken. This is just the beginning, though, as they still hold onto a whopping $3.05 billion in Bitcoin.

This big sell-off isn't surprising. Recently, German authorities have been moving large amounts of Bitcoin around, hinting at future sales. The Bitcoin they're selling came from the operators of Movie2k, a defunct piracy website. The suspects actually handed over the Bitcoin (almost 50,000 worth!) to the German police back in January.

Unsurprisingly, all this selling is pushing down the price of Bitcoin. It's dropped almost 1% in the last day and nearly 3% in the last week. But not everyone is panicking. Companies like MicroStrategy are still buying big, recently scooping up $786 million worth of Bitcoin.

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#crypto #cryptocurrency #bitcoin #BTC #cryptoawaz #cryptonews #german #government

Staying informed and educated is the best way of navigating in the crypto landscape ...

follow up on my previous post, the image below is how scammers lure in people .

be very mindful they have no means of approving merchant accounts as binance approval procedure is stringent ...

Such tactics are only used to bring in naive people and they end up scamming them by either taking their money or they ask for access of their account which results in draining of all funds ...

It is our duty to educate others in the community on how to avoid such individuals , and raise awareness ...

#StayCalmHODLOn

HELP Binance ,Safeguard yourself ...

Majority of Pakistani Binance users must have seen or heard about the p2p "chain dispute" scam going on where your accounts get blocked ...

the biggest reason for such scams to work is how easily scammers are buying KYC'd Binance accounts . They buy these accounts for $20 - $60 which seems like free money while this act results in massive issues for others ...

if you ever get approached don't just ignore , rather report that profile and if you see someone in a local community make people aware of this issue (may be share this as a screenshot ?)

If it didn't happen with you yet, it's just a matter of time when it will. Help others - Help yourself 🙏

#SafeInvestingWithBinance

$ETH ETF is not a game changer , it was bound to happen eventually and the trend will follow ...

Future Trading is Haram ?

yup ... just because you don't like it doesn't make it halal ...

Futures trading is considered haram (forbidden) in Islamic finance and law (Shariah) for several reasons:

1. *Speculation*: Futures trading involves speculating on the future price of an asset, which is considered a form of gambling (Maysir). Islamic law prohibits gambling and any transactions that involve excessive uncertainty (Gharar).

2. *Lack of physical possession*: In futures trading, the underlying asset is not physically possessed or exchanged, which goes against the Islamic principle of ownership and possession (Qabadayn).

3. *Excessive leverage*: Futures trading often involves high levels of leverage, which can lead to excessive debt and financial risk, contradicting Islamic finance's emphasis on prudent risk management and debt avoidance.

4. *No inherent value*: Futures contracts have no inherent value and do not represent a tangible asset, which conflicts with Islamic finance's focus on real economic activity and asset-backed transactions.

5. *Potential for exploitation*: Futures trading can involve exploitative practices, such as manipulating prices or taking advantage of asymmetric information, which goes against Islamic ethics of fairness and justice (Adl).

Former Zipmex Thailand CEO Akarlap Yimwilai faces serious accusations of fraud and deception from the Thai SEC.

He's suspected of illegally transferring customer funds overseas before informing users about changes in terms, violating regulations and potentially constituting fraud.

An SEC investigation uncovered discrepancies between reported and actual funds, leading to accusations of false statements and fraudulent activities. This resulted in a swift shutdown of Zipmex Thailand's trading and app, leaving users in limbo.

While legal action is recommended against Yimwilai, the SEC emphasizes due process. This case highlights the regulatory scrutiny faced by crypto exchanges and the importance of transparency and compliance.

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#crypto #cryptocurrency #cryptonews #thailand #zipmex

$45,000

where you see $BTC headed ?

It's just binance testing if their platform can show these candles when it eventually becomes a routine matter.