Blockchain Press Releases
CoinEx Research Releases July Cryptocurrency Market Report: Volatility, Resilience, and Growth
HONG KONG, Aug. 13, 2024 /PRNewswire/ — CoinEx Research has published its detailed analysis of the cryptocurrency market for July, shedding light on significant price swings, market resilience, and various influential factors shaping the landscape.
Market Volatility and Recovery
July witnessed dramatic fluctuations in Bitcoin’s price, plummeting to a low of $53,500 before rebounding to $70,000, and ultimately stabilizing between $64,000 and $66,000. This volatility was influenced by several key factors:
German Government Sell-off
The sale of 50,000 bitcoins by the German government created substantial market pressure. Despite this, the market exhibited remarkable resilience, quickly absorbing the excess supply and preventing a prolonged downturn.
Strong ETF Inflows
Bitcoin ETFs saw an impressive net inflow of $3.1 billion in July, a significant increase from June’s $666 million. This surge reflects growing institutional interest and suggests an accelerating convergence between traditional financial markets and cryptocurrency markets. The strong ETF inflows have provided additional liquidity and stability to the Bitcoin market, helping to mitigate short-term price volatility and laying the groundwork for future growth.
Mt. Gox Distribution
With 59,000 of the 142,000 recovered bitcoins distributed to creditors through exchanges like Kraken and Bitstamp, the market faces potential additional supply pressure. However, given the market’s ability to absorb large sell-offs, such as the German government’s, experts believe this new supply will be effectively managed over the coming months.
Political Developments
The Bitcoin Conference held in Nashville featured speeches by presidential candidates Donald Trump and Robert F. Kennedy Jr., both of whom expressed pro-crypto stances. Trump proposed establishing a strategic Bitcoin reserve for the nation, while Kennedy suggested the Treasury Department purchase 550 bitcoins daily until the U.S. has a reserve of 4 million bitcoins. These proposals highlight the growing political recognition of cryptocurrencies and, if implemented, could lead to a more favorable regulatory environment, attracting further institutional investment.
Ethereum ETF Launch
Following the approval of Bitcoin ETFs earlier this year, nine spot Ethereum ETFs began trading on July 22. Despite initial outflows totaling $542 million, including a $1.97 billion outflow from Grayscale’s ETHE fund, these ETFs mark a significant milestone. Analysts anticipate that if the outflow rate stabilizes, the pressure on Ether’s price, which dropped from $3,500 to $3,000, may ease within 1-2 months.
Solana’s Rise
Solana has emerged as a standout performer, particularly within the meme token sector. The Pump.fun platform, which created over 1.5 million meme tokens, generated 510,000 SOL in revenue. On-chain data shows Solana surpassing Ethereum in daily active users and daily transactions, and even overtaking Ethereum in DEX trading volume for the first time in July. This trend underscores the innovation and competitiveness within the cryptocurrency ecosystem.
Improving Liquidity
Stablecoin net issuance of $290 million in July signals improving market liquidity, nearing levels seen last December. This recovery suggests the onset of the next wave of market growth. Comparing to August 2021, when stablecoin inflows continued to rise after a two-month correction, industry insiders expect stronger inflows in August and September, potentially enhancing market liquidity and upward momentum.
Conclusion
Despite the challenges and volatility experienced in July, the cryptocurrency market, particularly Bitcoin, has demonstrated significant resilience and maturity. Strong ETF inflows, improving liquidity, and growing institutional interest paint a potentially positive outlook for Bitcoin. However, investors should remain cautious of ongoing factors like the Mt. Gox distribution and broader economic trends. The cryptocurrency market continues to evolve, with key developments such as Solana’s rise and the launch of Ethereum ETFs indicating a dynamic and competitive landscape ahead.
About CoinEx
Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 5 million users across 200+ countries and regions.
CoinEx Research remains committed to providing in-depth analyses and insights into the evolving cryptocurrency market, helping investors navigate through the complexities and opportunities that lie ahead.
View original content:https://www.prnewswire.co.uk/news-releases/coinex-research-releases-july-cryptocurrency-market-report-volatility-resilience-and-growth-302220739.html
“The Game is On”
TAIPEI, Jan. 23, 2025 /PRNewswire/ — TiltPlay, a gaming platform offering fast-paced and engaging casual games, is proud to announce its official launch on the Soneium ecosystem. This launch positions TiltPlay as dynamic, skill-focused gaming experience to the Web3 space.
TiltPlay combines accessible gameplay with innovative technology to deliver a seamless experience across platforms, including Telegram mini-apps and web browsers. The platform’s unique approach introduces:
- Exciting Game Variety: A growing library of casual games designed to challenge and entertain.
- Skill-Based Progression: Players are rewarded for their mastery and expertise, ensuring a fair and fun competitive environment.
- Web3 Integration: Built on Soneium, providing a decentralized and secure gaming experience.
“With TiltPlay, we’re redefining mini-games by putting fun and skill at the forefront,” said Jeffrey Huang, Product Director at TiltPlay. “Our collaboration with the Soneium ecosystem allows us to deliver a platform that’s accessible, enjoyable, and innovative for all players.”
TiltPlay is now live, inviting gamers worldwide to dive into its features, test their skills, and connect with a vibrant community.
For more information about TiltPlay, visit TiltPlay.gg.
Photo – https://mma.prnewswire.com/media/2603496/TiltPlay_launches_a_gaming_platform_Soneium.jpg
View original content:https://www.prnewswire.co.uk/news-releases/tiltplay-launches-as-a-gaming-platform-on-the-soneium-ecosystem-302357392.html
Blockchain Press Releases
Purchasers of Quantstamp QSP Tokens May Be Eligible for Payment from the Quantstamp Fair Fund
COSTA MESA, Calif., Jan. 22, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., the SEC-appointed Fund Administrator.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Quantstamp, Inc.
Administrative Proceeding File No. 3-21535
This Notice is Pursuant to a Distribution Plan approved by the United States Securities and
Exchange Commission in the captioned matter.
If you purchased or acquired Quantstamp QSP tokens from October 1, 2017, through July 20, 2023, inclusive, you may be eligible for a distribution from the Fair Fund created in the Securities and Exchange Commission (“SEC”) administrative proceeding captioned above (the “Fair Fund”).
The Fair Fund is being distributed pursuant to a Distribution Plan (the “Plan”) approved by the SEC. The Plan provides for the distribution of the Fair Fund to compensate investors based on their losses, due to the misconduct of Quantstamp, Inc. described in the SEC’s administrative proceeding, on the purchase of QSP tokens from October 1, 2017 through July 20, 2023. You can view and download a copy of the SEC’s order and the Plan on the Important Documents tab on the website for this matter: www.QuantstampFairFund.com/documents.
To be considered for eligibility for a Distribution Payment from the Fair Fund, you must timely submit a completed Claim Form online or via mail. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time (“EST”) on April 10, 2025. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, received) by April 10, 2025.
You may complete the Claim Form online here: www.QuantstampFairFund.com/form/claim. Alternatively, you may download a paper copy from of the Claim Form on the Important Documents page www.QuantstampFairFund.com/documents, or request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-215-6101, for submission by mail to the address set forth on the Claim Form.
ADDITIONAL INFORMATION
Additional information regarding the Fair Fund, including copies of the Plan, the Plan Notice, the Claim Form, and other relevant documents may be found at www.QuantstampFairFund.com. You may request copies or seek additional information by contacting the Fund Administrator.
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Email: |
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Call: |
833-215-6101 |
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Write: |
Quantstamp Fair Fund |
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Fund Administrator |
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P.O. Box 25381 |
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Santa Ana, CA 92799 |
Logo – https://mma.prnewswire.com/media/1232750/New_Simpluris_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/purchasers-of-quantstamp-qsp-tokens-may-be-eligible-for-payment-from-the-quantstamp-fair-fund-302357433.html
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
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