Called "Avalanche Vista," the initiative will consider investing in any asset that can be tokenized.

(Getty Images)

LayerZero CEO Bryan Pellegrino at Crypto Bahamas 2022 (Danny Nelson/CoinDesk)

The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. (AgnosticPreachersKid/Wikimedia)

The latest price moves in bitcoin (BTC) and crypto markets in context for July 25, 2023. First Mover is CoinDesks daily newsletter that contextualizes the latest actions in the crypto markets.

Flashbots raises $60 million in new funding round (Pixabay)

Digital Shovel, the industry leading manufacturer of turnkey, mobile crypto mining containers, has announced the launch of their latest innovation, the NanoPOD. Designed specifically for small to medium mining operations, the NanoPOD stands out as the company's most compact and efficient offering to date, setting a new standard in size and convenience.

With a footprint small enough to fit through a 7-foot tall door and occupying a mere two standard skid spaces in a tractor trailer, the NanoPOD seeks to optimize miners space and enhance their capabilities. Similar to its larger counterparts, the m300 and i300 MiniPods, the NanoPOD offers a rugged and easy-to-deploy, all-in-one solution that can be used both indoors and outdoors.

"We at Digital Shovel are dedicated to assisting businesses in scaling their crypto mining operations with turn-key mobile units," explained CEO Scot Johnson. "The NanoPOD represents a new era of affordability and enhanced security for small to medium miners, and we are thrilled to unveil it to the mining community here at Mining Disrupt in Miami."

Key features of the NanoPOD include flexible power options, capable of supporting single phase 220-240v and three-phase 415-380v and 220-240v. With a miner capacity of up to 120 kW, the NanoPOD can house 28 Bitmain S19 Miners or 36 Whatsminers, providing ample power for optimized mining performance.

The NanoPOD also incorporates Smart PDUs, enabling individual circuit wattage monitoring, automated switching of each circuit (both manual and auto modes), an atmospheric monitoring system, heat vectoring management system, and automated fan control for effective temperature regulation.

In terms of ventilation and filtration, the NanoPOD utilizes six awning-based intakes measuring 6-24 x 24 x 4, along with six 2100 CFM blower fans. To emphasize its eco-friendly focus, the NanoPOD has been engineered with high heat recycling capabilities, allowing blower fans to be partially ducted towards buildings or greenhouses in need of heat. A remote thermostat empowers users to monitor the temperature within the structure and automatically reroute excess heat once the desired temperature is reached.

The launch of the NanoPOD marks a step forward in the Bitcoin mining industry, providing smaller miners with a highly accessible and sophisticated solution for their operations. 

Crypto traders are buying up DOGE in hopes of the token playing a larger role on Twitter, which rebranded as everything app X on Monday.

Former Celsius CEO Alex Mashinsky outside a courthouse in New York on July 25, 2023. (Anna Baydakova/CoinDesk)

The lending app was drained of funds using a read-only reentrancy bug, a type of vulnerability that is often difficult for auditors to spot.

Worldcoin co-founder Alex Blanias recent refusal to disclose the tokens distribution model has raised some eyebrows, including that of John Deaton, who has expressed his dismay at his action.

Something Fishy With Worldcoin?

A video surfaced on Twitter in which Alex Blania, during a recent Bankless interview alongside fellow co-founder Sam Altman, refused to respond to the hosts question on Worldcoins token distribution, citing the regulatory uncertainty in the US as why he couldnt answer the question. 

The Twitter user (@Pledditor) posted the video with the caption:

When a crypto founder refuses to answer questions about token distribution

In the video, the host asks Blania to explain the distribution of the WLD token and Blania is quoted as saying: Look, many of the details we cant talk about here for the regulatory uncertainty in the United States. 

The video quickly went viral and sparked controversy as to whether Worldcoin was just another ponzinomics or, indeed, Alex Blania was honest about why he couldnt answer the question. 

However, renowned crypto lawyer John Deaton, who represents some XRP holders, quickly reacted to the video in a tweet.

Deatons tweet read:

Wtf did this dude just say?  Did he literally say that he cant talk about how WorldCoin is distributed because of the regulatory uncertainty in the United States?  

If there was ever a signal to RUN AWAY as fast as you can from a project, HERE IT IS. Is he saying he cant tell you how to acquire it or what youre acquiring because he might get sued?  

Now that I think of it, is he being smart and just following legal advice or is he a moron.  

Deaton stated that Blanias action was enough reason for investors to run away from th...

Tor Ekeland, interviewed by The Daily Dot radio's Nicole Powers in 2014. (Modified by CoinDesk)

The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022.

SEC Chair Gary Gensler at a U.S. Treasury council hearing in October 2022 (Anna Moneymaker/Getty Images)

The Latin American region faces high costs and challenges of traditional settlements, as people sending money to their close ones have to deal with high rates of transfer, and a portion of the population still remains unbanked.

However, in a recent development, the Bahamas payment company, Island Pay, is now incorporating cryptocurrency for remittance transactions to make it a smoother and cheaper process.

Island Pay is set to introduce crypto wallets that utilize the stablecoin USDC as the medium of exchange. The payment firm plans to roll out the CiNKO wallet in more than 30 countries.

The wallet which caters to users in the Caribbean and LATAM regions will enable individuals to conduct transactions with vendors, make payments to others (including those without bank accounts), and fund pre-paid cards.

Island Pay CEO Richard Douglas stated:

Our goal is to continuously look for ways to advance financial inclusion in the region and enhance financial experiences for both the unbanked and banked populations.

Related Reading: Will Bitcoin Rebound? This Metric May Be The One To Watch

Crypto Revolutionizes Remittance Landscape, Advancing Financial Inclusion

By integrating crypto for remittance, Island Pay demonstrates its commitment to fostering financial inclusion and enriching monetary experiences for both banked and unbanked individuals in the region.

The incorporation of this technology will lead to significant reductions in international money transfer fees. When receiving USDC stablecoins on CiNKO, users will not be charged. They may, however, encounter gas fees, depending on the blockchain network used for the transaction.

The demand for crypto transactions has surged due to the existing challenges in conventional remittance methods. According to the World Bank, the average cost of sending $200 can be as high as 6.2%. Additionally, these transactions often take several days to process through traditional financial intermediaries.

As pointed out in Circles recent report, the technology has the potential to slash the cost of sending money abroad by a substantial 80%. This report predicts that Blockchains capacity to enhance cost savings for financial institutions engaged in cross-border transactions will reach a market cap of $10 billion by the year 203...

Bitmain Antminer mining rigs at Consensus 2022 (Christie Harkin/CoinDesk)

The Worldcoin Orb scans a QR code to kick off the iris scan in Paris. (Eliza Gkritsi/CoinDesk)

"It is with a heavy heart that I am writing today to share news about team restructuring efforts we are effectuating today," wrote CEO and co-founder Michael Wagner.

KuCoin app (Shutterstock)

Absent clear, comprehensive regulatory guidance in the U.S., crypto companies would be wise to shore up their accounting systems.

The "Skull of Satoshi," created by Canada-based artist Benjamin Von Wong, is displayed in Greenpeace's campaign for a Bitcoin code change. (Benjamin Von Wong)

A close-up of one of Riot's mining rigs. (Riot Blockchain)

Paris, France (Alexander Kagan/Unsplash)

(Danny Nelson/CoinDesk)

Swakopmund, Namibia (Grant Durr/Unsplash)

Ripples sales in 2023 have caused mixed feelings for members of the Ripple community, with many considering it bullish for the network while others see it as detrimental to XRPs price action. 

What Has Happened With Ripples Sales?

Compared to 2022, Ripple sold 37% more XRP per month in 2023, and a recent tweet by Mr. Huber, an influencer in the XRP community, drew manys attention to this development. 

Ripple sold 2.22 billion XRP since 2023 started. Thats about 315 million per month. About 50% more than the usual 200 million in 2022. Now the crying is about to start. But I can reassure you. It is not XRP Tards who have bought these 2.2 billion XRP and XRP has outperformed anyway. No matter what you feel, Huber said.

It is important to mention that Mr. Huber initially made a mistake regarding the percentage increase in monthly sales from last year, which stands at 37% against the 50% he initially tweeted. He, however, quickly corrected it in a follow-up tweet.

Despite this, 37% remains a lot, and these figures will undoubtedly raise eyebrows about what is going on with Ripple and how XRPs price will react to these sales, whether it will bring about a massive rise in XRPs price or a steady decline. 

XRPs circulation does justice to these claims, as the number of XRPs in circulation has grown exponentially. XRPs circulating supply was 50.334 billion at the beginning of the year but now stands at 52.554 billion after Ripples sales and monthly escrow releases. That is an additional 2.2 billion XRPs put in circulation since January and a 4.4% increase, and the year is far from over. 

In 2021, Ripple sold 2 billion XRPs, amounting to 166 million XRPs being sold on an average monthly basis. In 2022, it sold 2.75 billion XRPs, an average of 230 million tokens sold monthly. 

In 2023, Ripple has sold 2.22 billion XRPs since the start of the year, amounting to an average of 315 million tokens sold monthly since January. That proves that Ripple has increased XRP sales massively since 2021.

What Does This Mean For Ripple And Its Community?

These figures could be both good and bad news for XRP and its community. On the positive side, it shows that there has been a greater demand for the token over the years, which signifies growth and wider adoption of the token. 

This demand may mainly be coming from institutional investors, which could undoubtedly expand the use cases of XRP beyond the cryptocurrency space. While on the negative side, having so much XRP in circulation without a deflationary mechanism could reduce the tokens value.

For now, XR...

Optimism token unlock schedule (token.unlocks.app)

(Exchange.art)

Abu Dhabi (Kamil Rogalinski/Unsplash)

Learn about the crucial differences between compilers and interpreters and how they affect code execution and development.

EraLend falls victim to $3.6 million exploit (Towfiqu Barbhuiya/Unsplash)

AI has seen massive growth in recent years, leading to comparisons with the now infamous dot-com bubble and crash of the 1990s.

Robinhood has been planning its expansion into the United Kingdom since 2019, but the project has faced multiple delays.

The on-chain analytics firm Santiment suggests that this indicator may be the one to watch to get hints about when Bitcoin might rebound.

Large Stablecoin Holders Have Seen Stagnant Supply Recently

According to Santiment, the movements of the dolphins and sharks of the top stablecoins like Tether (USDT) and USD Coin (USDC) may be relevant for the price of Bitcoin.

Generally, investors make use of these fiat-tied tokens whenever they want to escape the volatility associated with other assets in the market, like BTC. Such investors, however, are likely to buy back into the volatile cryptocurrencies, as holders who are truly exiting the space do so through fiat.

When these investors feel that the prices are right to jump back into the other coins, they simply exchange their stablecoins for them. Naturally, this shift can act as buying pressure for the market they are moving into, and thus, provide a bullish boost to the assets price.

More specifically, the combined holdings of the dolphins and sharks are of interest here. These holders generally hold between 10,000 and 100,000 BTC on their balances.

Now, here is a chart that shows how the supply of these investor cohorts has changed for USDT and USDC over the last few months:

As displayed in the above graph, the dolphins and sharks of the two largest stablecoins in the sector have seen their combined supply move mostly sideways during the last few weeks.

This means that these decently-sized investors havent been taking part in any sort of net conversions recently, whether it be swapping Bitcoin into stables, or exchanging their stables for other assets.

Interestingly, this sideways trend has continued during the last few days, despite the plunge to the low $29,000 levels that the cryptocurrency has observed in this period.

Currently, one of our key considerations revolves around whether this behavioral pattern will continue in the incom...

In light of Twitters rebranding, Elon Musk says users can expect to conduct their entire financial world via the X platform in the coming months.

Sothebys new generative art program will record all of its sales exclusively on the Ethereum blockchain.

Cointelegraph analyst and writer Marcel Pechman explains why debt might be good for Bitcoin, and discusses JPMorgans method for trading debt instruments.

Sky Mavis executive Kathleen Osgood said that the catalyst for the revival of blockchain gaming would be an experience that understands the motivations driving users into Web3.

The platform is now among the four largest cryptocurrency exchanges by trading volume after integrating with its recently acquired wallet service BitKeep.

As the eagerly anticipated Federal Open Market Committee (FOMC) meeting approaches, the financial world is abuzz with speculation about the potential implications for Bitcoin and crypto. Tomorrow, on Wednesday, July 26th, at 2 pm EST, the FOMC will announce its interest rate decision. As usual, Federal Reserve (Fed) chair Jerome Powell will face the media at 2:30 pm EST.

According to the CME FedWatch tool, the majority of the market is expecting a 25 basis point increase (99.8%). However, the real intrigue lies in what comes after this move and whether it marks the end of the rate hike cycle.

After tomorrows decision, the market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March 2024 at the earliest, if not in May.

Tomorrow is #FOMC day, expect volatility. #Bitcoin #Crypto

98.9% probability of a 25 bps hike by the Fed.

Market expects the Fed to keep the key interest rate high for a longer period of time. A first rate cut could come in March 24 at the earliest, if not in May. pic.twitter.com/C8wscv6BMd

Jake Simmons (@realJakeSimmons) July 25, 2023

Implications For Bitcoin And Crypto

For the past 16 months, the U.S. Federal Reserve has been grappling with inflation while hiking interest rates to levels not seen in 20 years. But all signs point to a possible end of the tightening cycle. The market is firmly expecting the 0.25 bps hike to a range of 5.25 to 5.5% will be the last.

Dogecoin price hits a two-month high amid speculations that Twitters rebrand to X would add a DOGE payment option.

This is an opinion editorial by Rupert Matthews, a lecturer at the Nottingham Business School.

University education is expensive. Even within the U.K., tales of students leaving with 90,000 (about $115,000) of debt are not uncommon, which raises the question of the value that can be realized by a university degree when offset by this considerable cost.

To help manage the scale of this expenditure, it is now common for students to have part-, if not full-time, jobs, with recent figures showing this is the case for the majority of students in the U.K. The same article also stated that the time some students spend on university work suffers as a result of the time they dedicate to paid employment.

As a university educator, this situation causes me great personal discomfort, with students taking on debt to get university educations that they cannot spend sufficient time on or truly benefit from, unable to develop the critical thinking skills that university graduates are prized for. This creates a quandary for budding university students: whether their time and money is better spent on university educations, developing practical skills or simply buying bitcoin, as suggested by Bitcoin Magazines Nik Hoffman.

University education has seen further difficulties in recent years. In addition to the costs of pursuing higher education, the COVID-19 pandemic has made the line between in-person and online education increasingly blurred. Attendance and engagement has long been an issue in universities, and I can admit to having issues with those myself, where late nights made getting to a 9:00 a.m. lecture or staying for the second hours seminar beyond my constitution. Add the new option of catching up with lecture recordings or extensive material online, and the draw to attend in person can fall even further.

Potential Solutions For Higher Education

How to address this is becoming an increasingly-pressing issue for higher education, with institutions exploring options such as the earning of digital badges for completing activities or attending sessions and progress tests during modules to link engagement from earlier in those modules to final grades. Each of these options, while having potential to increase engagement, involve considerable costs to set up, and then can add additional duties on staff to administer and...

Cardano has leaped considerably in the realm of DeFi activities, particularly in terms of Total Value Locked (TVL), despite the somewhat lackluster performance of ADA itself. 

TVL refers to the total value of assets locked within various decentralized finance protocols and applications on the Cardano blockchain. An increasing TVL can have several positive implications for the Cardano ecosystem.

The significance of TVL lies in its reflection of the overall engagement and adoption of DeFi projects built on Cardano. A higher TVL indicates greater trust and confidence in these decentralized financial services.

It demonstrates that users are willing to lock their assets within the ecosystem, utilizing various DeFi protocols for lending, borrowing, staking, and other financial activities.

Cardano TVL Surges Amid Price Decline

ADA has experienced a recent decline in its price, with the latest data from Coingecko showing it currently stands at $0.305. Over the past 24 hours, the price has faced a modest 0.4% decline, and over the last seven days, it has decreased by a mere 0.3%. Despite these losses, there is a notable silver lining in the form of Cardanos TVL on the network.

The surge in Cardanos TVL by 28% in the last three months indicates a growing interest in the DeFi activities offered by the network. It reflects growing confidence among users willing to lock their assets in decentralized applications, such as lending platforms, decentralized exchanges, and liquidity pools.

This increased participation can foster the development of a vibrant and robust DeFi ecosystem on Cardano, offering users a wide range of financial services.

...

Timothy Massad, the former CFTC chairman, highlighted the benefits of stablecoins and urged regulators not to discredit their utility.

The project has faced criticism from within the fintech world over its dystopian features and privacy concerns.

Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come how much lower can bears manage?

China launches worlds first blockchain satellite into space, meanwhile, McDonalds Hong Kong brings McNuggets into the Metaverse.

As the year 2023 continues to unfold, Bitcoins retreat below the pivotal $30,000 mark raises questions about the overall strength and stability of the cryptocurrency market.

Once, the crypto market held a significant lead over traditional stocks, according to Bloomberg. However, this advantage seems to be dwindling as Bitcoin a leading market indicator exhibits signs of struggle. The year-to-date rise of the top 100 digital tokens now stands at 46%, narrowing the gap with the 41% increase of the tech-driven Nasdaq 100 Index.

Technology stocks, particularly those influenced by artificial intelligence hype, have been rapidly gaining ground. This surge resulted in the Nasdaq 100 Index briefly surpassing the MVIS CryptoCompare Digital Assets 100 Index in June.

Impact of Regulatory Changes And Fed Decisions

Previously, the crypto market received a positive push from both regulatory efforts on digital assets that face a stumbling block in US court on digital assets and the hope that spot Bitcoin exchange-traded funds (ETFs) would be authorized in the US.  However, these boosting factors have waned.

Investors are now cautiously considering how the anticipated interest-rate hike by the Federal Reserve could impact both traditional and digital markets.

According to Caroline Mauron, co-founder of digital-asset derivatives liquidity provider OrBit Markets, the rally has lost momentum since the initial excitement sparked by the ETF news. There are no other visible catalysts on the horizon, she noted.

She also hinted at a potential silver lining, pointing out that the downside risk should be limited as the Fed is near the end of the current rate hiking cycle, which should support risk assets including crypto.

Bitcoin Chart Patterns Signal Warning Signs

Further cause for concern is seen in the various chart patterns that track Bitcoins performance. A key indicator, Bitcoins 20-week Bollinger bandwidth, has contracted...

An inside view of the Orb, Worldcoin's custom hardware that makes cryptographic IDs based on iris scans. (Worldcoin)

NFT mystery boxes are curated collections of unknown digital assets, offering buyers the excitement of discovering the contents after purchase.

The decentralized game publisher said its team had witnessed a significant rise in phishing attempts within its community and in the Arbitrum ecosystem.

The state seeks someone with connections and expertise in the blockchain industry, promising a $150,000 annual salary.

Fumio Kishida described Web3 as a new form of capitalism in a keynote address at the WebX conference in Japan.

Bitcoin whales are witnessing a historic exodus. @CryptoVizArt, a senior researcher at Glassnode has shed light on the significant shifts within the whale cohort in a new analysis.

Bitcoin Whales Impact: Unveiling The Numbers

In a remarkable revelation, the research highlights the substantial impact of whales on recent market activity. According to the data, 34% of sell pressure in the last 30 day was from Binance whales. These influential entities have been instrumental in shaping the recent market dynamics.

Moreover, the research also highlights a trend in whale behavior: a noteworthy decline in the total balance of whale entities on exchanges. In the last 30 days, the report states, Whale Flow to Exchanges witnessed the largest monthly balance decline in history, hitting -148,000 BTC/month. This dramatic decline marks a significant shift within the whale cohort, raising intriguing questions about their motives and strategies.

As the market witnessed the rally above $31,000, the influx of whale funds to exchanges surged remarkably. Glassnodes data reveals that whale inflow volumes reached an impressive +16,300 BTC/day, signifying their active involvement in recent market movements. Notably, this whale dominance accounted for 41% of all exchange inflows, which is comparable to both the LUNA crash (39%) and the failure of FTX (33%).

Throughout June and July, whale inflows have sustained an elevated inflow bias of between 4,000 to 6,500 BTC/day. Among all exchanges, Binance emerged as the primary destination for whale inflows. The report discloses that around 82% of whale-to-exchange flows were heading into Binance. In contrast, Coinbase accounted for 6.8%, and all other exchanges account for 11.2%.

While the overall balance of whales may have declined, @CryptoVizArts analysis points to intriguing internal dynamics within the whale cohort. As some whales increased their balances, others experienced declines. This phenomenon led the researcher to introduce the concept of Whale Reshuffling, suggesting that not all whales follow the same strategy.

The examination of the whale cohort over the last 30 days shows that whales with more than 100,000 BTC have recorded an increase of +6,000 BTC, whales with 10k-100k BTC have decreased their account balance by -49.0k BTC and whales with 1k-10k BTC have increased their account balance by +33.8k BTC. However, in aggregate, the whale group has seen just -8.7k BTC in net outflows.

Just 20 days after Mark Zuckerbergs Meta launched Threads to rival Elon Musks X, TikTok joined the race by allowing users to create and post text-based content.

AuthorJeff Wilser stares into the Orb. (Jeff Wilser/CoinDesk)

Capitol of the United States, Washington, D.C. USA (Louis Velazquez/Unsplash)

As XDC, the digital token for XinFin Network, exhibits a powerful display of bullish momentum, the cryptocurrency market is humming enthusiastically. XDC has increased by an incredible 74% in just one week, impressing traders and investors with its massive rise.

The altcoins ascent over the past 30 days has been remarkable; it has seen a substantial 56% increase, solidifying its place as one of the markets most exciting digital assets. The altcoin has demonstrated its strength by trading at a startling 100% premium over its January opening.

XDCs price at the time of writing was $0.058, up 16.6% in the last 24 hours. At cryptocurrency market tracker Coingecko, the token continues to lead the list of the top 100 coins for the week.

XDC Dominates Weekly Rankings

XDC Network is a blockchain platform for businesses and developers who want to build decentralized apps (dApps) on an efficient and scalable blockchain infrastructure.

The platform is built on an enhanced Ethereum codebase and is compatible with the Ethereum Virtual Machine (EVM).

In order to attain the target price of $1, analysts predict that the value of the XDC token will increase by a factor of about 24. This suggests a big potential for growth and offers a chance for investors looking for significant returns.

XDC has previously shown significant price appreciation. From its lowest price of $0.050 in June 2021, the tokens value increased by slightly more than three times in just two months.

In August 2021, XDC reached its highest recorded price of $0.18 thanks to this outstanding performance. Such a sharp price increase demonstrates the tokens intrinsic volatility and ability to provide substantial returns in a short amount of time.

A total of 37,705,012,600 XDC coins are available, with a circulating supply of 13,851,401,350 and a market cap of $812 million for XDC.

Strong Price Performance

...

Binance Logo (Danny Nelson/CoinDesk)

Kishida reiterated Web3 is part of the new form of capitalism, referring to his flagship economic policy intended to drive growth and wealth distribution. (Photo by Takayuki Masuda)

The crypto bills could hand power to the purportedly more crypto-friendly CFTC and better define the SECs jurisdiction.

The Bitcoin Implied Volatility Index has fallen to its lowest levels since the crypto options exchange launched the tracker in early 2021.

Dogecoin is gaining bullish momentum above the $0.075 resistance against the US Dollar. DOGE could extend its rally toward the $0.085 resistance zone.

• DOGE is currently trading in a bullish zone above $0.072 resistance against the US dollar.
• The price is trading well above the $0.075 zone and the 100 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $0.0725 on the 4-hours chart of the DOGE/USD pair (data source from Kraken).
• The price is up nearly 10% and might extend its increase above $0.080.

Dogecoin Price Gains Strength

In the last Dogecoin price prediction, we discussed how DOGE could surge 10%. The price did form a base above the $0.0680 level and started a fresh rally.

The price cleared the $0.072 and $0.0725 resistance levels, outperforming Bitcoin and Ethereum. It is up over 10% and trading near the $0.0780 resistance. A high is formed near $0.0780 and the price is now consolidating gains.

DOGE is trading well above the $0.0725 zone and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $0.0725 on the 4-hours chart of the DOGE/USD pair. The pair is now trading above the 23.6% Fib retracement level of the recent rally from the $0.0695 swing low to the $0.0780 high.

Source: DOGEUSD on TradingView.com

On the upside, the price is facing resistance near the $0.0780 level. The first major resistance is near the $0.080 level. A close above the $0.080 resistance might send the price toward the $0.0820 resistance. The next major resistance is near $0.0832. Any more gains might send the price toward the $0.085 level.

Are Dips Limited in D...

A subtle change in Elon Musks Twitter bio has reignited rumors Dogecoin may soon be used for payments on Musks everything app.

0.00010 BTC = 2.93 USD
1.00 USD = 0.00003 BTC
Converter

Binance, Changpeng Zhao and former compliance chief Samuel Lim intend to file two motions to dismiss a March lawsuit from the CFTC.

OpenAI has quietly pulled the plug on its AI Classifier, which aimed to help teachers, professors and others distinguish between human- and AI-written text

Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.

Bitcoin daily chart. (CoinDesk Indices)

Federal Reserve Chair Jerome Powell speaks at the Brookings Institute in 2022. (Helene Braun/CoinDesk)

US Presidential candidate Robert F. Kennedy Jr. was recently announced as a speaker at the upcoming Mining Disrupt 2023, a highly anticipated event in the Bitcoin mining community, taking place in Miami on July 25-27th at the Miami Airport Convention Center.

Robert F. Kennedy Jr. also spoke at the Bitcoin 2023 conference earlier this year in Miami. Since then, the presidential candidate has only increased his devotion to Bitcoin, announcing that if elected president he would back the US dollar with BTC, and also eliminate capital gains taxes on bitcoin to dollar conversions.

Mining Disrupt will also feature a strong lineup of keynotes and discussion panels, starring expert speakers in the Bitcoin mining space, allowing attendees to learn more about and stay updated on the latest products, strategies, and tendencies in the mining industry. The event organizers expect around 5,000 attendees at this year's conference, making it one of the larger Bitcoin conferences of the year.

Michael Cruz, Mining Disrupt founder and co-owner, reflected on how far the conference has come in the last few years: What started as the Mining Disrupt telegram group for miners over 6 years ago, turned in to our first official trade show in 2019, and now, we are thrilled to be celebrating our 5th year anniversary. What an amazing ride! We are very thankful for all the support.

Gabriel Rodriguez, co-owner of Mining Disrupt, emphasizes the essence of the event as a true B2B Expo and conference, uniting leading companies in Bitcoin mining from around the globe under one roof. With over 100 sponsors and exhibitors, their shared goals revolve around building trust and fostering the growth of the young mining industry.

Those who wish to learn more about this two day, three night event can read more on their website here.

Gas flaring / Getty Images

BTC daily price (CoinDesk)

Sam Bankman-Fried. (Elizabeth Napolitano / CoinDesk)

(Robert Lukeman/Unsplash)

Digital asset fund flows (CoinShares)

Elon Musk (Daniel Oberhaus/Flickr)

Twitter and Doge Icons (Twitter)

Russian President Vladimir Putin. (DimitroSevastopol/Pixabay)

The EU has passed new crypto laws (Pixabay)

The Worldcoin Orb scans a QR code to kick off the iris scan in Paris. (Eliza Gkritsi/CoinDesk)

Vitalik Buterin spoke to reporters during an exclusive event at ETHSeoul. (CoinDesk)

The Orb. (Worldcoin)

(Ripple Labs)

(Yuichiro Chino/Getty Images)

Though the Bitcoin halving will reduce rewards for miners, the prospects for the industry remain bright and innovations like Ordinals promise more demand for miner services in the future.

Worldcoin co-founders Alex Blania and Sam Altman (Marc Olivier/Worldcoin)

(James MacDonald/Getty Images)

(Getty Images)

A judge in New York has approved a joint request from the SEC and Coinbase to settle dates for opening briefs and all subsequent responses.

Shiba Inu (SHIB) is the second largest meme coin and has a special feature compared to Dogecoin: token burns. Hardly any other topic is discussed more frequently in the SHIB community (besides Shibarium) and causes confusion in the process. Everywhere you can read: Billions of SHIB burned, this is what happens to the price.

But hardly anyone emphasizes that SHIB Burns basically have no significant impact on the price, at least not with the current volumes. Also, because the total circulating supply of SHIB of 589,346,914,631,298.1 SHIB is gigantic, large numbers can quickly create a mirage.

The SHIB burn tracker, the most popular service for monitoring SHIB burns, has stepped forward to address the misconceptions and shed light on the factors driving SHIBs price movements.

SHIB Burns X Shiba Inu Price

The expert emphasizes the essential role of demand and uniform investments in shaping SHIBs price, rather than relying solely on token burns. Burning a substantial number of tokens, while seemingly impactful, cannot significantly influence the price without continuous and substantial token purchases to match the current buying rate. As the analyst puts it, Burning 10 billion tokens in a week will not impact the price when there are far larger transfers being purchased daily and prices have just sustained.

The crux of SHIBs price dynamics lies in the fundamental economic principles of supply and demand. Token burning can contribute to scarcity and reduced supply, but it is demand that imparts value to the token. As the burn tracker aptly notes, A token can burn 90% of their supply, but if theres no demand for that token, then it holds no value. In other words, burning alone cannot enhance SHIBs value; rather, it is the surge in demand coupled with decreased supply that can positively influence its price.

The role of major holders, mainly centralized exchanges, also holds significance in the SHIB ecosystem. The tracker points out that the top 100 accounts (excluding the burn address) for $SHIB hold near 400T of the tokens supply. These major holders impact liquidity and accessibility for traders, influencing the tokens overall market behavior.

While acknowledging the potential impact of token burning, the tracker urges caution against overemphasizing it as the sole driver of SHIBs price success. Success should be evaluated holistically, and arbitrary price targets should not dictate a tokens journey. As the SHIB tracker suggests, A tokens success doesnt always mean reaching a specific price, like $0.01. Many have their own price goals. Instead, long-term growth and adoption, as well as continuous community interest and participatio...

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