Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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TON losses 18% over the weekend. Will it bounce back soon?

Key takeaways

  • TON is down 18% over the weekend following Durov’s arrest.
  • $0DOG officially begins trading on Gate.io and MEXC exchanges.

TON dips Below $6 following Telegram CEO’s arrest

TON, The Open Network’s native coin, is trading below $6 after losing 18% of its value over the weekend. The poor performance comes after Pavel Durov, Telegram’s founder and CEO, was arrested in France on Saturday. 

At press time, TON is trading at $5.64 and has dropped to the tenth place in the market. If the bearish trend continues, TON could drop below the $5.5 mark in the coming hours. However, Durov’s release could see the coin rally higher in the short term. 

What is Bitcoin Dogs?

The cryptocurrency market continues to churn out excellent projects that provide unique value propositions to investors and users. Bitcoin Dogs has joined this rank after raising over $13 million during its presale. 

Bitcoin Dogs is a new project leveraging the growth of the Bitcoin blockchain to become a leading coin. As the first BRC-20 token ICO on the Bitcoin network, Bitcoin Dogs adds another layer of utility to the blockchain. 

It combines the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture to build a solid project. 

After raising $13 million during its presale, Bitcoin Dogs is now trading on the Gate.io, Unisat, and MEXC cryptocurrency exchanges. The team is now focusing on rolling out its various products. 

Bitcoin Dogs is launching the biggest NFT mint on the Bitcoin network. The team seeks to make the Bitcoin network a leading smart contracts blockchain, similar to Ethereum, Solana, and BNBChain. 

$0DOG trades above $0.02

Bitcoin Dogs completed its presale and is now trading on three cryptocurrency exchanges. $0DOG has been listed on three Tier-1 crypto exchanges: Gate.io, Mexc, and Unisat.

Data obtained from MEXC showed that $0DOG is trading at $0.02181 per coin. Users can purchase $0DOG on MEXC and Gate.io. However, the only Bitcoin Dogs trading pair available currently is the 0DOG/USDT pair. The crypto exchanges could launch other $0DOG pairs as the project builds liquidity. 

Should you buy the Bitcoin Dogs token from the crypto exchanges?

If you are interested in investing in the Bitcoin Dogs project, you can only buy the tokens via the above-mentioned cryptocurrency exchanges. This could be an excellent opportunity for investors to purchase $0DOG before it lists on more centralised and decentralised cryptocurrency exchanges. 

Bitcoin Dogs could be a big winner in this bull run thanks to the project’s unique proposition to investors and users.

The post TON losses 18% over the weekend. Will it bounce back soon? appeared first on CoinJournal.

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Whale doubles down on SOL as traders eye Bitcoin Dogs

  • Solana reclaimed the $160 level over the weekend to see SOL bulls reach the highest level since August 9.
  • As a whale doubles down on SOL, what’s the outlook for Bitcoin Dogs?

Bitcoin recovered from a slight setback to trade above $64,000 on August 25, with this coming as the market reacted to news of the arrest of Telegram founder Pavel Durov.

Despite the double-digit dips for Toncoin, Bitcoin held near $64k and Solana retested the $160 price level, while traders continued to show bullishness for Bitcoin Dogs.

Whale stakes $4.5 million Solana (SOL)

News of Telegram founder Pavel Durov’s arrest in France attracted negative reaction across crypto. Top coins declined alongside Toncoin (TON), the cryptocurrency powering The Open Network blockchain that’s increasingly being integrated with encrypted messaging platform.

Here’s a comment from Edward Snowden:

Despite the downside pressure, Bitcoin remained near $64,000 and Ethereum changed hands near $2,700. Meanwhile, Solana reached highs of $160 for the first time since early August.

A whale took advantage of the early slip to add to their SOL holdings. Per details by Lookonchain, a whale bought over 28k Solana (SOL) tokens worth over $4.5 million, which they proceeded to stake.

The whale’s big move is in spite of the Solana network seeing fierce competition in the meme coin space from TRON. Over the past week, SunPump platform has taken a significant bite into Pump.fun’s dominance, including in terms of revenue.

Is Bitcoin Dogs worth buying in current market?

As analysts across the market have suggested in recent weeks, various cryptocurrencies could offer a notable opportunity for a long-term bet.

BTC stands out for its potential breakout to a new all-time high. Meanwhile, traders hunting for the next gem are likely to find tokens such as Bitcoin Dogs potential opportunities.

The Bitcoin Dogs token is the BRC-20 token that completed the first-ever presale on Bitcoin. After making its debut on Gate.io, MEXC and Unisat, the 0DOG token has quickly listed on Uniswap and DEXTools. OKX Web3 wallet also support the 0DOG token.

In the lead up to Bitcoin Dogs’ listing on MEXC and Gate.io, top analysts suggested that this might a good buying opportunity for those eyeing 0DOG.

Conclusion

While Solana’s value has bounced off a multi-week hurdle, investors are bullish on SOL. Toncoin and Notcoin, which have tanked in the wake of Durov’s arrest, may yet bounce as the broader market eyes recovery.

Meanwhile, Bitcoin Dogs has the potential to be a good long-term opportunity, particularly the project’s blend of play-to-earn, NFTs and DeFi on Bitcoin. After the token’s listing on Gate.io, MEXC and Uniswap, 0DOG may be worth watching should other top exchanges follow suit and provide further visibility.

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

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Judge denies Kraken motion to dismiss SEC lawsuit

  • US District Judge William H. Orrick has ruled that the US Securities and Exchange Commission has a plausible case against crypto exchange Kraken.
  • According to the judge, the SEC’s lawsuit against Kraken will proceed.

The US Securities and Exchange Commission’s lawsuit against crypto exchange will proceed, a judge has ruled.

On Friday, August 23, 2024, US District Judge William Orrick denied Kraken’s motion to dismiss SEC’s lawsuit. In court documents filed on Friday, the judge noted that the regulator’s allegations that the crypto exchange had offered unregistered securities were plausible.

“Kraken does not deny it never registered with the agency, but says that it does not need to because the transactions it enables on its platform do not involve securities and do not fall within the SEC’s regulatory purview. But the SEC has plausibly alleged that at least some of the cryptocurrency  transactions that Kraken facilitates on its network constitute investment contracts, and therefore securities, and are accordingly subject to securities laws,” Judge Orrick wrote in the ruling.

Solana among alleged unregistered securities

In its lawsuit against Kraken, the SEC listed 11 cryptocurrencies it said were sold as investment contracts. These are Cardano (ADA), Algorand (ALGO), Cosmos Hub (ATOM), Filecoin (FIL), Flow (FLOW), and Internet Computer (ICP).

Others are Decentraland (MANA), Polygon (MATIC), Near (NEAR), OMG Network (OMG) and Solana (SOL).

The judge’s opinion, delivered as part of the ruling, is that “all the SEC must do is plausibly allege that at least one of these crypto assets is being traded as an investment contract to make its claims feasible.”

SEC has sued multiple crypto exchanges, including Binance and Coinbase. The regulator filed its lawsuit against Kraken in November 2023.

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Optimism opens Retro Funding 5 offering 8 million OP

  • Optimism’s Retro Funding round 5 is open for applications until September 5, 2024.
  • The Optimism team has also welcomed new Ethereum Layer-2 Soneium to the Superchain.

Optimism has announced that its Retroactive Public Goods Funding (Retro Funding) 5 round is now open for applications.

According to the platform’s announcement on August 23, Optimism (OP) contributors have until September 5 at 19:00 UTC to submit applications.

Eligible projects will win part of the 8 million OP the new round has available to Ethereum core developers, OP Stack research and development teams and OP Stack tooling developers.

Who’s eligible for Retro Funding 5?

The Retro Funding 5 round will offer rewards to projects that have generated impact within the OP ecosystem between October 2023 and August 2024. Ethereum core contributors include smart contract languages, execution clients, EVMs, testnets, and cryptography researchers.

Meanwhile, OP Stack researchers include projects that directly contribute to the OP Stack and the Optimism protocol. These include client Implementations, modules and audits. Integration and load testing infrastructure and RaaS providers are among OP Stack tooling projects eligible for the funding.

Optimism welcomes Soneium

Other news developments for Optimism related to Sony’s launch of the Soneium, an Ethereum Layer-2 chain leveraging the OP Stack. In an announcement following Soneium’s unveiling, Optimism said the L2 was now part of the Superchain.

Soneium will be a general-purpose network that will seek to bridge Web2 and Web3.

“Sony Block Solutions Labs, the joint venture between Sony Group and Startale chose to build with Optimism for its world-class tech, strong builder community, and thriving ecosystem,” Sota Watanabe, director of Sony Block Solutions Labs, said in a statement.

Watanabe is also the CEO of Startale, the platform behind Astar zkEVM and which plans to transition it to Soneium’s L2 network.

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WazirX to resume phased INR withdrawals, fees reduced by 60%

  • WazirX will resume INR withdrawals in phases starting August 26, 2024.
  • Users can withdraw up to 66% of INR balances, with fees reduced by 60%.
  • Crypto withdrawals remain suspended as WazirX implements a Singapore Scheme.

Indian cryptocurrency exchange WazirX has announced a phased resumption of Indian Rupee (INR) withdrawals starting August 26, 2024, following a major cyberattack in July that led to a substantial loss of funds.

The hack, which resulted in over $230 million being stolen, prompted the exchange to halt all withdrawals and trading to mitigate the impact and assess the situation.

Crypto withdrawals remain suspended

In a recent update, WazirX revealed that while cryptocurrency withdrawals will remain suspended, INR withdrawals will begin in stages.

Users will be able to withdraw up to 66% of their INR balances, with the process unfolding in two phases.

Between August 26 and September 8, users can withdraw up to 50% of their INR balances. From September 9 to September 22, they will be able to access the full 66% limit.

The exchange has also announced a reduction in withdrawal fees by 60%, from INR 25 to INR 10, to ease the financial burden on its users during this challenging period.

WazirX pursuing a Singapore Scheme of Arrangement

The decision to halt cryptocurrency withdrawals stems from the significant loss of ERC-20 tokens in the cyberattack, leaving WazirX with insufficient assets to meet user liabilities. To address this, the exchange has said that it will pursue a Singapore Scheme of Arrangement, a legal restructuring process aimed at ensuring a fair distribution of the remaining assets.

In the announcement issued on August 23, WazirX stated:

“We will shortly be filing an application in the High Court of Singapore to ensure that the platform has the time and breathing space it needs to pursue a restructuring under a Scheme of Arrangement.”

The proposal, which must be approved by WazirX creditors and the High Court of Singapore, is intended to facilitate an equitable resolution for all stakeholders involved.

While INR withdrawals will soon resume, users with cryptocurrency holdings will need to await further developments as WazirX works towards a comprehensive solution. The phased INR withdrawal plan marks a critical step in the exchange’s recovery process, offering some relief to affected users.

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