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Bitcoin surges past $65k to push 90% of holders into profit

  • BTC price rose to $65,500 on major exchanges, a 7-week high.
  • The upside sees most Bitcoin holders in profit, which IntoTheBlock puts at over 90%

Bitcoin has spiked past $65,000, reaching the highest price level since early August 2024. The surge to the $65k level, with BTC hitting $65,500 on Coinbase, has put more than 90% of Bitcoin holders into profit.

Notably, the surge has other coins looking to break higher. Ethereum has strengthened above $2,600, BNB is above $600 and Solana has jumped to $157.

BTC/USD price chart. Source: TradingView

BTC hits 7-week high

In recent weeks, Bitcoin had struggled to breach resistance at $60k.

However, once bulls did, the flagship cryptocurrency has run to a seven-week high last seen on August 2, 2024. The coin’s price hit the $65.5k area on most major crypto exchanges to see it retest a level likely to be key for both bulls and bears.

Earlier in the day, on-chain analytics platform IntoTheBlock noted that more than 90% of BTC holders would swing profitable if Bitcoin crossed the $65k.

This has happened and with recent profit taking deals in mind, bulls may need further strengthening to continue higher. Short term, the key levels are at $68k and $70k – which could include a potential retest of the all-time high of $73k reached in March.

Alternatively, bears may take advantage and return prices lower – a scenario witnessed in July/early August as BTC declined from highs of $70k.

The post Bitcoin surges past $65k to push 90% of holders into profit appeared first on CoinJournal.

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Uphold’s Topper integrates with Ledger hardware wallet

  • Uphold’s Topper integrates with Ledger hardware wallet’s Ledger Live software for seamless fiat-to-crypto transactions.
  • The Integration aims to challenge traditional banking and improve crypto accessibility.
  • Following the integration, Ledger hardware now offers 14 on-ramps but only one off-ramp, enhancing user options.

In a significant move to enhance cryptocurrency accessibility, Uphold’s fiat-to-crypto on-ramp, Topper, has officially integrated with Ledger Wallet, a leading hardware wallet.

This integration is set to transform the way users engage with digital assets, allowing for seamless fiat-to-crypto transactions directly through the Ledger Live application.

The integration of Topper expands the purchasing options available within Ledger Live, which now supports over 200 digital assets. Users can now buy cryptocurrencies like Bitcoin using fiat currencies such as the US dollar, facilitating a more straightforward entry into the crypto market.

Ledger Wallet expanding its on-ramp options

Ledger has long been regarded as the gold standard in hardware wallets, having sold over 7 million devices since its inception in 2014.

Ledger’s Vice President of International Development, Jean-François Rochet, highlighted the importance of this partnership, stating, “This integration creates a balanced mix of localized and global offerings for our users.”

Currently, Ledger features 14 on-ramp solutions, significantly outpacing its one off-ramp option. This disparity highlights the company’s ongoing efforts to enhance user experience by expanding fiat, crypto, and geographical coverage.

The integration also aims to challenge conventional banking services, a sentiment echoed by Topper CEO Robin O’Connell, who noted that the partnership aligns with Uphold’s mission to provide modern alternatives to traditional banking. With Topper, users can enjoy higher approval rates and a simplified payment process, further encouraging crypto adoption.

Uphold’s commitment to transparency and security has earned it a reputation as one of the most compliant platforms in the industry. The company uniquely routes orders across 30 trading venues, ensuring optimal execution and liquidity while maintaining 100% reserved assets. This approach not only enhances user trust but also distinguishes Uphold in an increasingly competitive landscape.

While Ledger’s hardware wallets do not require KYC (Know Your Customer) identification for transactions, the integration necessitates KYC checks for on-ramp services provided by Topper. O’Connell emphasized the importance of a streamlined onboarding experience, aiming to validate users efficiently without burdening them with extensive requirements.

As the digital asset landscape continues to evolve, the integration of Uphold’s Topper with Ledger Live represents a pivotal step toward making cryptocurrency more accessible and user-friendly. With ongoing advancements in financial technology, both companies are poised to reshape how individuals interact with money, providing secure and innovative alternatives to traditional banking systems.

The post Uphold’s Topper integrates with Ledger hardware wallet appeared first on CoinJournal.

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Synesis Foundation partners with AirMoney DEGN for DePIN-focused consumer hardware

  • Synesis Foundation and AirMoney DEGN partner to enhance AI and DePIN hardware.
  • AirMoney DEGN device will support AI data validation and reward users in crypto.
  • Partnership boosts decentralized data validation and expands DePIN utility.

Synesis Foundation has announced an exciting partnership with AirMoney DEGN to accelerate the adoption of decentralized hardware within the AI and Decentralized Physical Infrastructure Network (DePIN) sectors.

This collaboration marks a significant milestone, as it supports the introduction of Solana’s first AI data pre-processing solution, while also enhancing the utility of DePIN-focused hardware. The partnership aims to revolutionize data validation for AI clients and increase participation in the DePIN economy.

Expanding the utility of AirMoney DEGN

The AirMoney DEGN device goes beyond the capabilities of a standard crypto wallet, enabling users to securely trade crypto assets, interact with web3 games, and participate in the DePIN ecosystem.

By integrating Synesis Foundation’s AI pre-processing solution, the device offers users the opportunity to engage in data validation tasks for AI clients, earning rewards in the process. This provides a unique dual functionality for DePIN hardware users, allowing them to not only manage digital assets but also contribute to AI data campaigns through decentralized consensus mechanisms.

Synesis Foundation will build a dedicated application for the AirMoney DEGN device, enabling hardware holders to participate in tasks such as validating Reinforcement Learning with Human Feedback (RLHF) data.

This innovative solution is poised to increase awareness of decentralized infrastructure solutions, offering greater opportunities for users to earn rewards through Proof of Activity (PoA) and become active participants in the DePIN economy.

Revolutionizing AI data validation on Solana

As one of the first AI projects on Solana, Synesis Foundation has already processed over 1.5 million AI data transactions on-chain. The foundation’s new RLHF campaign allows AirMoney DEGN owners to participate in validating critical frontier data, further boosting their crypto earnings while supporting the AI economy.

This collaboration reflects the growing convergence between AI, blockchain, and DePIN, as dedicated hardware solutions like AirMoney DEGN provide an avenue for decentralized data sourcing and validation, creating a new paradigm for AI solutions on Solana.

The post Synesis Foundation partners with AirMoney DEGN for DePIN-focused consumer hardware appeared first on CoinJournal.