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  • Self-custodial Bitcoin staking protocol Babylon announces mainnet

    Self-custodial Bitcoin staking protocol Babylon announces mainnet

    • Babylon, the self-custodial Bitcoin staking protocol, will launch its mainnet on August 22, 2024.
    • The launch brings a “third native use-case of Bitcoin” to users, adding staking to its store of value and payment, Fisher Yu, co-founder of Babylon, said.

    Babylon, a self-custodial Bitcoin staking protocol, has announced the launch of its phase-1 mainnet as it eyes the growing decentralised finance market on the leading blockchain network.

    Babylon announces Bitcoin staking mainnet

    In an announcement on Monday, the protocol revealed its mainnet launch will go live on August 22, 2024. The first phase of the mainnet will allow BTC holders to stake their coins with the self-custodial protocol.

    Meanwhile, upcoming phases will see the Bitcoin protocol allow proof-of-stake networks to tap into the $1 trillion bitcoin network security. Projects that can gain access to and utilise this ecosystem include layer-2 chains, data availability layers and oracles.

    “This launch leads to the third native use-case of Bitcoin, the asset beside value storage and simple payment: stake to secure networks and earn,” Fisher Yu, co-founder of the Babylon project, said. “We expect this to enhance the crypto-economic security of PoS chains and other decentralised applications, offering them a more secure and reliable infrastructure, while at the same time unlocking the value from the idle, unencumbered $1 trillion Bitcoin ecosystem.”

    Babylon’s announcement comes after the platform raised $70 million in a funding round led by crypto venture capital firm Paradigm. Mainnet is supported by more than 200 finality providers, including Allnodes, Galaxy Digital, P2P, Figment, Luganodes, and Stakefish.

    The project has also received support from top wallets such as Binance Web3 Wallet, OKX Web3 Wallet, Bitget Wallet, Keystone and TomoWallet.

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  • Toncoin signals bullish momentum as Bitcoin Dogs gears for its debut on three exchanges

    Toncoin signals bullish momentum as Bitcoin Dogs gears for its debut on three exchanges

    Toncoin signals bullish momentum as Bitcoin Dogs gears for its debut on three exchanges
    • BARR pattern breakout signals a potential 40% rise to $9.50 for Toncoin (TON).
    • Binance listing and Injective integration boost Toncoin’s price and liquidity.
    • Bitcoin Dogs’ 0DOG token will debut on Gate.io, MEXC Official, and Unisat Wallet.

    As August progresses, Toncoin (TON) and Bitcoin Dogs, two prominent players in the cryptocurrency space are capturing the spotlight. Toncoin is showcasing impressive bullish momentum, while Bitcoin Dogs is preparing for a significant market debut.

    With the crypto market witnessing fluctuating trends, these developments offer intriguing insights into the evolving landscape of digital assets. This article delves into the bullish signals for Toncoin and the highly anticipated launch of Bitcoin Dogs on major exchanges.

    Toncoin bullish momentum and technical analysis

    Toncoin (TON) has exhibited strong bullish signals, positioning itself as one of the top-performing cryptocurrencies.

    As of August 19, 2024, Toncoin is trading at $6.82, reflecting a notable rise of 8.36% over the past week, despite a broader market decline. This surge is attributed to several key factors, including technical patterns, fundamental developments, and on-chain data.

    One of the most compelling technical indicators for Toncoin is its breakout from a Bump-and-Run Reversal (BARR) pattern. This pattern, often a precursor to significant upward movement, suggests a potential price increase of around 40%, targeting the $9.50 mark.

    The BARR setup begins with a lead-in phase, followed by a sharp downturn (bump), and culminates in a recovery and eventual breakout (run). Recent price behaviour aligns with this setup, reinforcing the bullish outlook.

    The breakout, which occurred around August 18, 2024, was marked by a sustained rise above the previous declining trendline, coupled with increased trading volume. This technical shift is further supported by Toncoin trading above its 50-day and 200-day exponential moving averages (EMAs), both of which are showing upward slopes.

    Additionally, the Relative Strength Index (RSI) remains above the neutral 50 level, indicating continued buying pressure despite short-term overbought conditions.

    Fundamental factors have also played a crucial role in Toncoin’s recent price surge. Notably, the listing of Toncoin on Binance on August 15, 2024, has significantly improved its liquidity and market accessibility.

    Furthermore, the integration of Toncoin with the decentralized finance protocol Injective on August 14, 2024, has enabled TON-based assets to be utilized within Injective’s ecosystem, enhancing its utility and adoption.

    On-chain data further supports the bullish sentiment surrounding Toncoin. Analysis shows a redistribution of tokens from large holders (whales) to smaller investors. As of August 19, 2024, the percentage of Toncoin held by addresses with 100,000 to 1,000,000 coins has declined, while the share held by addresses with 10,000 to 100,000 coins has increased.

    This shift indicates growing buying interest among mid-sized investors, often a precursor to bullish price action.

    Bitcoin Dogs’ major market debut on August 21

    In a parallel development, Bitcoin Dogs is set to make a significant market debut on August 21, 2024. The project, which raised over $13.496 million in its presale, will list its 0DOG token on three major exchanges: Gate.io, MEXC Official, and Unisat Wallet.

    This milestone marks the transition from its presale phase to active trading and is expected to generate substantial interest and trading activity.

    Bitcoin Dogs is notable for being the first-ever ICO on the Bitcoin blockchain, combining blockchain technology with canine-themed digital assets. The project features a metaverse called the Dogaverse, where users can engage in various activities, including gameplay and NFT trading centred around a canine theme.

    The presale of Bitcoin Dogs was a resounding success, and the upcoming exchange listings represent a pivotal moment for the project. The strategic choice of exchanges reflects Bitcoin Dogs’ commitment to expanding its market reach and providing ample liquidity for its tokens.

    The token claim process will also commence on August 21, allowing presale participants to access their tokens.

    Looking ahead, Bitcoin Dogs has outlined an ambitious roadmap, including a game beta, token staking, and multi-chain support. The project’s innovative blend of blockchain technology and canine culture positions it as a unique player in the crypto space, with further developments planned for late 2024 and early 2025.

    Conclusion

    As Toncoin signals bullish momentum with promising technical and fundamental indicators, and Bitcoin Dogs (0DOG) gears up for its major exchange debut, these developments underscore the dynamic nature of the cryptocurrency market.

    Investors and enthusiasts alike are keenly watching these developments, which could shape the future trajectory of these digital assets.

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

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

    Bitcoin Dogs presale
    • 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.

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  • South Korea’s national pension fund buys $34M of MicroStrategy shares

    South Korea’s national pension fund buys $34M of MicroStrategy shares

    The National Pension Service, South Korea’s national pension fund, has reported purchases of nearly $34 million in MicroStrategy shares.

    NPS is South Korea’s largest public pension fund and the third-largest in the world with over $729 billion worth of assets.

    Wu Blockchain shared the news via X:

    Details filed with the US Securities and Exchange Commission indicate the NPS acquired 245,500 of MicroStrategy shares at a total of $33.5 million. The filing relates to the fund’s investments in the quarter ending June 30, 2024.

    According to news outlet Infomax, the National Pension Service’s investment in shares of the US-based MicroStrategy accounts for 0.04% of the fund’s total investment in US stocks.

    Apart from MSTR, the fund also holds more than $51 million in Coinbase shares, $31.5 million in Roblox and over $61 million in shares of Block, Inc. The fund also holds shares of AI-chip powerhouse Nvidia, and tech giants Google and Microsoft.

    MicroStrategy shares up 92% YTD

    While the MicroStrategy stock has plummeted 20% as the crypto market struggles with choppy conditions. Despite falling from highs of $180 in mid-July to currently around $131, MSTR remains more than 92% up year-to-date.

    MicroStrategy, as well as top crypto related companies such as Coinbase, are largely bullish amid growth and projections for Bitcoin. For Michael Saylor-led MicroStrategy, part of the success has come after adopting the strategy of adding BTC to its balance sheet.

    MSTR has soared alongside Bitcoin since MicroStrategy first bought BTC in 2020, the latest surge coming amid Bitcoin’s push to reclaim $60k.

    Saylor said in a recent post on X that MSTR has outperformed 499 of the 500 stocks in the S&P 500.

    The company acquired an additional 12,222 BTC in Q2, 2024, adding more than $805 million in BTC to its haul. Currently, MicroStrategy holds 226,500 BTC worth over $13 billion.

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  • After raising over $13M in presale Bitcoin Dogs will list on three exchanges on August 21

    After raising over $13M in presale Bitcoin Dogs will list on three exchanges on August 21

    Bitcoin Dogs will list on three exchanges on August 21
    • Bitcoin Dogs raised over $13M in presale.
    • The 0DOG token will be listed on Gate.io, MEXC Official, and Unisat Wallet on August 21.
    • The token claims will open on the same day when the token gets listed on the three exchanges.

    Bitcoin Dogs Club has announced the official listing of its 0DOG token on three major exchanges, following a successful presale that raised over $13.496 million.

    The highly anticipated exchange listing is set for August 21, 2024, and marks a significant milestone for the innovative project that combines the appeal of blockchain technology with the excitement of canine-themed digital assets. Investors and enthusiasts alike are gearing up for this momentous occasion, as Bitcoin Dogs prepares to make its mark in the crypto world.

    The crypto community has shown great interest in Bitcoin Dogs

    Bitcoin Dogs Club concluded its presale phase with remarkable success, accumulating $13,496,294.3.

    The presale success underscores the strong interest and support from the crypto community for the project, which is distinguished by its unique integration of blockchain and canine-themed elements.

    The presale not only highlights the enthusiasm surrounding Bitcoin Dogs but also sets the stage for its upcoming market debut.

    Listing on Gate.io, MEXC Official, and Unisat Wallet

    The announced listing on three prominent exchanges: Gate.io, MEXC Official, and Unisat Wallet on August 21 further represents a significant opportunity for the $0DOG token, offering access to billions in daily trading volume and millions of users globally.

    The strategic choice of exchanges reflects Bitcoin Dogs’ commitment to broadening its market reach and providing ample liquidity for its tokens.

    The listing will mark the beginning of a new chapter for Bitcoin Dogs, as the project transitions from its presale phase to active trading.

    The token claim process will also be available on the same day, allowing presale participants to access their tokens. This move is anticipated to generate substantial interest and trading activity, positioning Bitcoin Dogs as a prominent player in the crypto space.

    What sets Bitcoin Dogs apart”

    Bitcoin Dogs is not just another cryptocurrency project; it’s an innovative blend of blockchain technology and canine culture. As the first-ever ICO on the Bitcoin blockchain, Bitcoin Dogs combines the traditional appeal of cryptocurrencies with a unique twist that appeals to both crypto enthusiasts and dog lovers.

    The project features a metaverse called the Dogaverse, where users can engage in various activities, including gameplay and NFT trading, all centred around a canine theme.

    The project’s presale tokenomics were designed to attract and reward early supporters. With a total supply of 900 million $0DOG tokens, 90% were available for purchase in the presale, with prices escalating every three days during the sale period.

    Looking ahead, Bitcoin Dogs has laid out an ambitious roadmap that includes several key milestones. In Q1 2024, the project planned to debut its NFT collection and initiate token staking. The beta version of the Bitcoin Dogs Game was also introduced, setting the stage for a full game launch in Q3 2024.

    The roadmap further outlines the introduction of multi-chain support and governance voting by Q4 2024, with plans for metaverse expansion and partnership growth in early 2025.

    The upcoming exchange listings represent a pivotal moment for Bitcoin Dogs, positioning the project for increased visibility and engagement within the crypto community.

    As August 21 approaches, all eyes will be on Bitcoin Dogs as it embarks on this exciting new phase, promising to bring innovation and excitement to the world of blockchain and cryptocurrency.

    For more information on how to claim and trade the 0DOG token, you can visit the official Bitcoin Dogs Club website here.

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  • Crypto price prediction: Sui, Bitcoin, Poodlana

    Crypto price prediction: Sui, Bitcoin, Poodlana

    SUI’s bullish momentum has has boosted it to the day’s top gainer among cryptos as Bitcoin struggles to break the crucial zone of $60,000. Meanwhile, Poodlana has meme coin traders at the edge of their chairs with less than 100 hours to go before it hits the public shelves.

    SUI is the day’s top gainer

    Among the trending cryptocurrencies in the new week is SUI. As at the time of writing, it was the top gainer among cryptocurrencies with its price up by 20.52% in the past 24 hours as indicated by CoinMarketCap. Notably, it has maintained this impressive momentum for days; having risen by 118.82% in the past 7 days.

    Bull traders’ optimism has continued to boost the altcoin following Grayscale Investments’ announcement on 7th August. While launching two new investment trusts for Sui (SUI) and Bittensor (TAO) tokens, the firm’s head of product & research, Rayhaneh Sharif-Askary stated, “We are excited to add Bittensor and Sui to our product suite, and believe Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain”.

    A look at its daily price chart shows SUI above the 50-day EMA and an RSI of 68. Besides, it has risen past the descending channel; aspects that point to a strong bullish trend. In the short term, it will likely be range-bound between 1.1360 and 0.9710 as bulls gather enough momentum to retest June’s high at 1.1785. On the flipside, a pullback past the aforementioned support level may have it drop to 0.8858 before rallying further.

    Poodlana’s pre-sale is in its last 100-hour leg

    While SUI has been one of the trending cryptos in recent sessions, a greater hype lies in one of the newest projects – Poodlana. Indeed, with all the facts and excitement around it, it may end up being the biggest Solana listing of 2024; possibly even outperfoming Dogecoin.

    With less than 100 hours to go before the presale ends, the project has already raised $6.76 million. In addition to the popularity of meme coins, POODL’s status has largely been boosted by its association with luxury. It is named after the Poodle; a dog breed associated with luxury fashion especially in Asia. Besides, it has packaged itself as The Hermes of Crypto.

    Notably, Poodlana buyers are optimistic that it will continue on an uptrend once it starts trading an hour after the end of its presale. Granted, those buying at its current price of $0.0499 already have gains locked with the next stage price set for $0.0539. This means that with a modest investment of $150, you get 3,006 tokens. In the next 20 hours, that will equate to 2,782 tokens; a significant difference, right? You can learn more about Poodlana token here.

    Bitcoin struggles around $60,000

    While the extreme fear experienced a week ago appears to have eased, the hesitance is still pulpable. As such, Bitcoin is struggling to break past the $60,000 zone in this week’s first trade session.

    On a daily chart, it continues to trade below the 25 and 50-day EMAs. This substantiates last week’s outlook of a dead cat bounce. In the short term, the range between 57,121 and 61,925 is worth watching.

     

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  • Marathon Digital to raise $250M through convertible senior notes for Bitcoin purchase

    Marathon Digital to raise $250M through convertible senior notes for Bitcoin purchase

    Marathon Digital to raise $250M through convertible senior notes for Bitcoin purchase
    • Marathon Digital plans to raise $250M via convertible senior notes for Bitcoin buying.
    • The funds will also support corporate initiatives, including debt repayment and expansions.
    • The company holds over 20,800 BTC, worth $1.2B, more than double its nearest competitor.

    Marathon Digital, a leading Bitcoin mining company, has announced plans to raise $250 million through a private offering of convertible senior notes, aimed at increasing its Bitcoin (BTC) holdings and funding general corporate purposes.

    The notes, which will be offered exclusively to qualified institutional buyers, will pay interest semi-annually and are set to mature on September 1, 2031. The specific interest rate and conversion rate will be determined during the pricing process.

    The raised funds will not only be used to purchase more Bitcoin but also to support various corporate initiatives, including working capital, strategic acquisitions, expansion of existing assets, and debt repayment.

    Marathon Digital’s move shows confidence in Bitcoin

    This move comes as Marathon Digital continues to solidify its position as the largest Bitcoin miner globally.

    The company currently holds over 20,800 BTC, valued at approximately $1.2 billion, which is more than double the amount held by its closest competitor, Hut 8.

    Marathon has been actively increasing its Bitcoin reserves, adding more than $124 million worth of the cryptocurrency in July 2024 alone.

    Despite a significant price drop at the beginning of August, Bitcoin has shown resilience, rebounding and trading above $60,000, marking a 16% increase in the last seven days and Marathon’s aggressive acquisition strategy underscores its confidence in Bitcoin’s long-term potential and stability.

    Marathon’s commitment to increasing its Bitcoin holdings highlights the growing trend of companies integrating cryptocurrencies into their balance sheets, reflecting broader confidence in the future of digital assets.

    As large institutional players like Marathon continue to accumulate Bitcoin, the trend is seen as a bullish signal for the market, potentially influencing other investors to follow suit.

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  • Coinbase and MicroStrategy climb as Bitcoin reclaims $59k

    Coinbase and MicroStrategy climb as Bitcoin reclaims $59k

    • Coinbase and MicroStrategy stocks rose 6% and 7% respectively as Bitcoin surged to above $59,000.
    • Analysts say crypto markets may be choppy amid potential bearish catalysts.

    Coinbase and MicroStrategy stocks have climbed more than 6% each on Aug. 8 (as of 2 pm ET), gains that come as the price of Bitcoin broke above $59,000.

    The Coinbase (COIN) stock traded around $192.30 while MicroStrategy’s MSTR hovered near $134. 23.

    Read more: Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Bitcoin’s surge sees it extend recent momentum since reclaiming support above $50,000. According to data on CoinGecko, the flagship cryptocurrency is up 7% in the past 24 hours. Losses over the past week have shrunk to about 5%.

    Amid this, crypto analyst Ali Martinez says long-term holders have aggressively bought the recent dip.

    Short term outlook

    This positive movement for BTC comes as XRP led the crypto market higher after the latest court ruling in the Ripple vs. SEC case. XRP traded to above $0.63 to help Stellar (XLM) and other altcoins higher. Ethereum also breached the $2,600 mark.

    However, XRP is poised at a key resistance zone and Ethereum may yet have to battle bearish pressure from potential selling.

    “There is a potential cap on the topside in the near term with Jump Trading continuing its ETH liquidations (21,394 $wstETH ~$63.6M left) and Plus Token Ponzi 2 ETH wallets moving a total of 25,757 ETH ($63.1M) in the last 30 hours,” analysts at QCP Capital wrote.

    The broader market is also still largely tinged with caution as analysts point to jitters around the global macro environment and geopolitical tensions in the Middle East. In this case, crypto could still see a retreat amid a choppy month or so.

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  • Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B
    • Michael Saylor personally holds $1 billion in Bitcoin, owning 17,732 BTC.
    • MicroStrategy holds 226,500 BTC, valued at over $12 billion, with a $37,000 average cost.
    • Saylor views Bitcoin as a superior, secure asset and advocates continuous investment.

    In a recent interview on Bloomberg Television, Michael Saylor, the Chairman of MicroStrategy, revealed he holds Bitcoin worth approximately $1 billion.

    This makes him one of the most prominent BTC holders in the world, joining the ranks of figures such as Binance Founder Changpeng Zhao, the Winklevoss Twins, and Satoshi Nakamoto.

    Michael Saylor has not sold any of his BTC holdings

    Saylor’s endorsement of Bitcoin as a capital investment asset is both passionate and unwavering. In his discussion with Bloomberg’s Sonali Basak on August 7, Saylor confirmed that he possesses a significant personal stack of Bitcoin, which he first disclosed four years ago.

    At that time, he announced owning 17,732 BTC, a figure that has only grown since.

    Despite the significant appreciation of Bitcoin’s value over the years, Saylor has not sold any of his holdings, continuously acquiring more of the cryptocurrency.

    Seeing Bitcoin as a generational wealth asset

    For Saylor, Bitcoin represents more than just a speculative investment. He describes it as a revolutionary financial tool, superior to both physical and traditional financial capital.

    According to Saylor, Bitcoin is an unparalleled asset that offers generational wealth potential for individuals, families, corporations, and even countries. His commitment to Bitcoin is rooted in its perceived stability and security, as well as its ability to preserve value over time.

    During the interview, Saylor emphasized his belief that “there is never a bad time to buy Bitcoin.” He likened Bitcoin to “cyber Manhattan,” suggesting that investing in it is akin to acquiring prime real estate in the most coveted location.

    This analogy highlights his conviction that Bitcoin, as a scarce and desirable asset, will always hold significant value, regardless of market fluctuations.

    MicroStrategy has accumulated 226,500 BTC under Saylor’s leadership

    Saylor’s investment philosophy extends beyond his personal holdings to his leadership of MicroStrategy. Under his guidance, the company has amassed a substantial Bitcoin reserve, totalling 226,500 BTC, valued at over $12 billion.

    This massive investment represents a significant portion of the company’s balance sheet. MicroStrategy’s average cost per Bitcoin stands at approximately $37,000, and the company is set to execute a 10-to-1 stock split, which could further impact its financial structure and stock performance.

    In addition to discussing his personal holdings, Saylor also addressed Bitcoin’s broader implications for corporate finance. He asserts that Bitcoin can “fix” corporate balance sheets by providing a secure and stable asset for long-term investment.

    Saylor points to Bitcoin’s immense computational and electrical power, which he argues makes it “nation state resistant” and “nuclear-hardened.” He proudly notes that the Bitcoin network consumes more electricity than the United States Navy, a testament to its robust security and resilience.

    However, Saylor’s enthusiasm for Bitcoin is not just limited to its investment potential. He views cryptocurrency as a groundbreaking technological advancement, with the power to reshape financial systems globally.

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