Bitcoin (BTC) extended its decline by more than 3% this week as bears maintained selling pressure. Although the price fell below the Short-Term Hold Realized Price (STH-RP) of $64,230, the bears were unable to deepen the correction. This suggests that bulls are trying to defend STH-RP, the total cost basis for Bitcoin holders, i.e. wallets that store Bitcoin for 155 days or less.Bitcoin weakness has led to continued outflows from spot Bitcoin exchange-traded funds since June 13, according to data from Farside Investors. This suggests that Bitcoin investors are nervous about the near-term outlook.Daily view of cryptocurrency market data. source:…
Author: Crypto Flexs
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Average daily trading volume for the stablecoin Tether (USDT) on the Tron (TRX) blockchain has surpassed that of credit card giant Visa, according to new data. Market intelligence firm Lookonchain said in a new post on social media platform Visa stayed at $42 billion. “USDT 24-hour trading volume on the Tron network is $53 billion, exceeding Visa’s average daily trading volume. In the first quarter of 2024, Visa transaction volume was $3.78 trillion, with average daily transaction volume of $42 billion.” Source: LookonchainX According to a chart from Lookonchain, in the same 24-hour period, USDT recorded over 2 million transfers,…
Binance Simple Earn has announced a new promotional campaign for its AVA (AVA) Simple Earn flexible product. According to Binance, users who subscribe to this product can enjoy an exclusive bonus tiered annual percentage rate (APR) of up to 6% in addition to real-time APR rewards. Promotion Details The promotion period runs from 00:00 UTC on June 21, 2024 to 23:59 UTC on September 18, 2024. Subscriptions are on a first-come, first-served basis and users must adhere to the terms and conditions set forth by Binance Simple Earn. Compensation payment structure APR rewards per bonus…
Solana has experienced a steady decline over the past seven days. Despite applying the Solana ETF, negative market sentiment persisted. After a sustained downward trend, Solana (SOL) became overvalued after Canadian digital asset management company 3iQ applied for a SOL ETF. In its report, 3iQ reported on “3iQ Corp is pleased to announce that it has filed a preliminary prospectus for the Canadian Solana Fund (QSOL) in an initial public offering.” Applying for QSOL is a golden opportunity for traders and enthusiasts as it provides the opportunity to enjoy profits through SOL staking. Likewise, increasing the investment pool broadens the…
In response to the growing regulatory and reporting needs in the Web3 space, Fireblocks announced a strategic partnership with TRES Finance. According to Fireblocks.com, the collaboration aims to provide comprehensive automation for Web3 accounting, tax and auditing. Automated Web3 Financial Solutions This partnership leverages TRES Finance’s proprietary Financial Data Lake (FDL), which integrates and contextualizes financial data from thousands of Web3 endpoints. This rich data is integrated into TRES Finance’s FinOS platform, allowing companies to easily generate auditable reports. As the complexity of Web3 financial operations increases, the automation provided by TRES Finance simplifies the…
Bitcoin (BTC) is preparing the perfect conditions for a new BTC price breakout, two classic indicators suggest.Popular trader Roman makes the case for continued bullishness in BTC/USD in his latest analysis on X (formerly Twitter).Traders: Check the BTC price closing each week to identify key signalsDespite disappointing holders for most of June, Bitcoin remains a solid bet for a higher period when things look much better.Some argue that BTC price action is simply consolidating below all-time highs in classic bull market action that can last for months.But for Roman, a return to the good times we’ve seen before may be…
Popular rapper Curtis James Jackson III, better known as “50 Cent,” claimed that his X account and website were hacked by hackers promoting a cryptocurrency pump-and-dump token scam.The fraudulent developer, also known as “Rug Pull,” created a new cryptocurrency token, “GUNIT,” and used Jackson’s large I pulled it up. Afterwards, the token price plummeted to $0.00016.On June 21, Jackson posted to his 32.8 million Instagram followers claiming that his“Twitter worked quickly to relock my account. “Whoever did this made $300 million in 30 minutes,” Jackson said before declaring he had “nothing to do with this cryptocurrency.”Source: 50 CentHe posted three…
Pocket FM and ElevenLabs have joined forces to revolutionize content creation with the launch of AI Audio Series, cutting-edge voice AI capabilities now accessible globally. This groundbreaking partnership opens a new chapter in storytelling, empowering writers to easily transform their stories into incredible audio series. Revolutionizing content creation The partnership between Pocket FM and ElevenLabs marks a groundbreaking leap forward in voice AI technology. By leveraging ElevenLabs’ expertise in this field, Pocket FM has achieved remarkable milestones in the experimentation phase, reducing costs by up to 90%. Through this integration, the company has also doubled…
Fox has revealed its plans to join the Ethereum Layer 2 ecosystem. This move was made to significantly strengthen the Polygon-based content verification platform. Verification’s footprint extends beyond Fox. Because the cryptocurrency industry is often focused on the speculative frenzy surrounding asset prices, the disruptive potential of blockchain technology in industries other than finance is often overlooked. However, incumbent companies are increasingly looking beyond this speculative veil and leveraging blockchain technology to streamline operations and solve new problems. Among these companies is Fox Corporation, a leading media company.In January 2024, Fox launched Veri, a content verification platform that leverages the…
OpenAI has announced a groundbreaking development with the introduction of a consistency model that aims to speed up creation operations across a variety of media types, including images, audio, and video. This new model addresses the limitations of existing diffusion models that rely on an iterative sampling process that results in slow generation times. Advances in diffusion models Diffusion models have played an important role in advancing generative AI, especially in the creation of high-quality images, sounds, and videos. However, its dependence on repeated sampling was a notable drawback and slowed down output generation. According…