Monat: August 2024

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Bitcoin Dogs to list on 3 major exchanges: Will 0DOG price explode?

  • Bitcoin Dogs (0DOG) will list on Gate.io, MEXC and Unisat on Aug. 21.
  • What does listing on the 3 crypto exchanges mean for 0DOG?

Bitcoin Dogs (0D0G) will be making its market debut with a bang as three major exchanges announce trading support.

Investors who have waited since the Bitcoin Dogs’ successful presale are excited as listings and token claims get a clearer timeline. But what does this milestone mean for 0DOG price?

Gate, MEXC to list Bitcoin Dogs

After making history as the world’s first BRC-20 token ICO on the Bitcoin network, 0DOG is poised to land on Gate.io, MEXC and Unisat. The cryptocurrency exchanges will list the play-to-earn and non-fungible token platform’s native token on Aug. 21, 2024.

This is a major milestone for the project, which secured more than $13.4 million in its presale.

In the next five days, 0DOG will be available across Gate.io, MEXC and UniSat – platforms that together have a combined trading volume of over $2.5 billion in daily trading volume. Gate.io and MEXC are top tier crypto exchanges with over $1 billion each in 24-hour volume.

Bitcoin Dogs game via Telegram mini-app

News that Bitcoin Dogs will go live on exchanges in coming days has interest in the project back to levels seen during the ICO. This also comes as the team behind the BRC-20 project hit key roadmap landmarks, including developments on the P2E ecosystem, 10K Ordinals NFTs and staking.

In the upcoming game, aspects such as PvP battles, exclusive access and mobile/Telegram app support has Bitcoin Dogs poised to hit the market as recent hits such as Kombat Hamster and Notcoin.

Recently, Telegram introduced mini apps and the in-app browser features, opening up decentralized applications to millions of users. The instant messaging platform is currently a top destination for crypto tap-to-earn and play-to-earn games, which is an ecosystem that Bitcoin Dogs also targets with its Telegram integration.

Bitcoin Dogs price forecast

Also helping Bitcoin Dogs price could be the overall developments within the Bitcoin layer-2 ecosystem. Multiple projects have interest in the decentralized finance (DeFi), gaming and metaverse market on the flagship blockchain network.

The gaming part will benefit from Bitcoin Dogs rollout of its game on Telegram.

Over 950 million monthly active users will have a chance to play the Bitcoin Dogs game via a Telegram mini-app, bringing the future of gaming to users. 0DOG will power this ecosystem and viral traction could be massive for the token’s value.

Analysts at Pantera Capital noted earlier in the year that the L2 market on Bitcoin could be a $500 billion market – a prediction that means Bitcoin Dogs’ first mover advantage puts it ahead of potential rivals.

The listing on Gate.io, MEXC and Unisat is a first major milestone that also adds to the positive catalysts for 0DOG. Savvy traders are likely to use the upcoming listing and the potential buy opportunity to add to their positions.

If interested in learning more about Bitcoin Dogs, visit the official website.

The post Bitcoin Dogs to list on 3 major exchanges: Will 0DOG price explode? appeared first on CoinJournal.

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Aptos, Celestia, SATS retreat as investors focus on DTX Exchange

Most cryptocurrencies continued their downtrend on Friday as the mood in the market remained tense as investors waited for the next catalyst. Bitcoin dropped below $59,000 while other tokens like Aptos, Celestia, and SATS fell by over 6.2% in the last 24 hours. Most of these tokens have moved into a deep bear market recently. 

It is not doom and gloom though as DTX Exchange, an upcoming hybrid crypto exchange continued firing on all cylinders, as you can see on its website here.

DTX Exchange is thriving

DTX Exchange, a company that seeks to disrupt the crypto and stocks exchange industry, has raised over $1.36 million from global investors. Its token sale is in the second stage, with the coin trading at $0.04. It will then rise to $0.04, meaning that current buyers are getting a big discount and will get more tokens than when it moves to the third stage.

DTX Exchange’s goal is to radically disrupt existing exchanges like Uniswap, Raydium, PancakeSwap, and Orca. 

As part of its strategy, the developers hope that the exchange will become an all-in-one platform for trading stocks, cryptocurrencies, commodities, and forex. No other decentralized exchange offers these assets in one platform. 

At the same time, the developers hope that the DTX token will have more utility than existing tokens like UNI, CAKE, and RAY. Users will use it to pay trading fees on the platform as well as having discounts. 

In addition, the token will give holders premium features and pay them loyalty rewards. Users will have a chance to earn rewards by staking their tokens. Staking is a process where traders earn rewards for just holding cryptocurrencies in their wallets. In some cases, these rewards could be in the double digits. 

Analysts believe that DTX Exchange has a chance to become a disruptive force in the crypto industry. Beside, the exchange plans to have deep liquidity, have advanced security features, and have more assets than other exchanges.

Celestia, Aptos, and SATS retreat

DTX Exchange is doing well as most cryptocurrencies have remained in a deep bear market. Celestia, a popular network that offers modular scaling solutions, has dropped by over 75% from its highest point this year. 

Similarly, Aptos token has crashed to $6.10 from a high of $20 in March. SATS has moved to $0.00028, down from the all-time high of over $0.00064.

This price action is mostly because of the weak sentiment in the cryptocurrency industry as the volume has dropped. Interest among investors has also waned as the number of social media mentions has dropped. The market cap of all Tether tokens in circulation has also dropped.

Still, analysts are optimistic that cryptocurrencies will start doing well this year. Besides, the end of the Summer season is continuing while the US presidential election is set to conclude in November. The Fed is also expected to slash interest rates in the next meeting. You can buy the DTX token here.

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Hackers demanded crypto ransom amid cyber attack at Paris 2024 Olympics

The Grand Palais in Paris, a prominent venue for the 2024 Summer Olympics, has become the latest victim of a high-profile cyberattack. Hackers infiltrated the venue’s digital infrastructure, demanding a significant ransom in cryptocurrency. This incident not only underscores the persistent cybersecurity threats but also highlights the increasing use of cryptocurrencies in cybercrime.

The cyberattack occurred at the beginning of August 2024, targeting the Grand Palais, which hosted several high-profile Olympic events. According to reports, the attackers gained access to sensitive financial data and threatened to release this information unless their demands for a cryptocurrency ransom were met​.

Cybersecurity Challenges & The Role of Crypto

This attack on the Olympic venue brings to light the ongoing cybersecurity challenges faced by major international events. With the world watching, the stakes are incredibly high. The attackers were essentially playing a high-stakes game, akin to a digital blackjack, where they bet on the swift response and compliance of their targets to secure the cryptocurrency ransom.

Cryptocurrencies have become a preferred medium for ransom payments due to their pseudonymous nature. The ability to transfer large sums of money quickly and with relative anonymity makes cryptocurrencies an attractive option for cybercriminals. This incident is a stark reminder of the dual-edged sword that cryptocurrencies represent – while they offer numerous benefits for legitimate users, they also provide tools for malicious actors​.

Response and Mitigation

In response to the attack, the organizing committee of the Paris 2024 Olympics worked closely with cybersecurity experts and law enforcement agencies to contain the breach and mitigate further damage. The compromised systems were secured and measures were put in place to protect other vulnerable infrastructure from similar attacks.

Furthermore, this incident is expected to prompt a reevaluation of cybersecurity measures at large-scale events. It emphasizes the need for robust, proactive security protocols and the importance of staying ahead of evolving cyber threats.

Broader Implications

The cyberattack on the Grand Palais is not an isolated incident but part of a broader trend of increasing cyber threats targeting high-profile events and institutions. It serves as a wake-up call for organizers of major events worldwide to prioritize cybersecurity and to prepare for potential threats that could disrupt operations and compromise sensitive information.

Demanding cryptocurrency ransom is a stark reminder of the vulnerabilities that exist in today’s digital landscape. As cryptocurrencies continue to gain prominence, they also attract the attention of cybercriminals looking to exploit their unique properties. This incident underscores the urgent need for enhanced cybersecurity measures to protect against such high-stakes digital threats, ensuring the safety and integrity of global events like the Olympics.

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Dubai Court of First Instance affirms crypto as a validity salary payment method

  • Dubai Court validates salary payments in cryptocurrency, shifting from prior stance.
  • The employee’s contract in the case in question included both fiat and EcoWatt tokens as payment.
  • The ruling sets a precedent for digital currency adoption in UAE’s financial transactions.

In a landmark ruling, the Dubai Court of First Instance has affirmed the validity of salary payments in cryptocurrency under employment contracts.

This ruling marks a significant shift from the court’s previous stance, highlighting a growing acceptance of digital currencies in the UAE’s legal and economic frameworks.

Employee sought payment in EcoWatt tokens

The case in question, identified as case number 1739 of 2024, involved an employee who had filed a lawsuit claiming that their employer had failed to pay both their regular wages and additional benefits that included cryptocurrencies.

The employment contract in dispute specified a monthly salary in fiat currency along with 5,250 EcoWatt tokens. The contention arose from the employer’s inability to pay the crypto portion of the salary for six months.

In 2023, the court had initially acknowledged the inclusion of EcoWatt tokens in the contract but did not enforce payment in cryptocurrency due to the lack of a clear method for valuing the tokens in fiat terms. This decision reflected a more traditional viewpoint, emphasizing the need for concrete evidence when dealing with unconventional payment forms.

However, today’s ruling represents a progressive shift. The court has now ordered the payment of the salary in EcoWatt tokens as per the employment contract, without requiring conversion to fiat currency.

Irina Heaver, a partner at UAE law firm NeosLegal, praised the decision as a step forward in integrating digital currencies into legal frameworks. Heaver noted that the court’s reliance on the UAE Civil Transactions Law and Federal Decree-Law No. 33 of 2021 in both judgments shows a consistent application of legal principles in wage determination.

Heaver emphasized that the ruling sets a positive precedent for the adoption of digital currencies in financial transactions. She stated, “This decision reflects a broader acceptance of cryptocurrency in employment contracts and highlights the court’s recognition of the evolving nature of financial transactions within the Web3 economy.”

This court ruling not only supports employees’ rights to their agreed-upon wages but also signals a significant move towards establishing the UAE as a leader in the digital economy.

The post Dubai Court of First Instance affirms crypto as a validity salary payment method appeared first on CoinJournal.