Crypto

PENGU drops 21% in 7 days to $0.031. Analysts see key support near $0.025 with upside tied to ETF, Asia growth, and toy sales.

Protection against price drops in BlackRock's spot bitcoin (BTC) ETF, IBIT, is now at its priciest since the early April market slide.

The bank reiterated its buy rating on CORZ and raised its price target for the bitcoin miner to $22 from $16 to reflect the CoreWeave acquisition.

Shareholders can opt for a $0.05 per share in ETH or cash dividend plus a $0.35 reward for moving shares to book entry for at least 120 days.

Once-bullish crypto traders are warning of billions in potential ether liquidations and fresh downside risks for bitcoin.

The Tom Lee-led firm increased its ether stash to 1.5 million tokens last week, up from 1.15 million.

The Royal Government of Bhutan has cut its Bitcoin exposure by selling more than $92 million of the top digital asset during the recent market downturn. On Aug. 18, blockchain analysis platform Onchain Lens reported that Bhutan moved 799.69 BTC, valued at approximately $92.06 million, into two new wallets. According to the firm, these transfers […] The post Bhutan trims $92 million in government Bitcoin amid market dip appeared first on CryptoSlate.

The combined hashrate of the 13 U.S.-listed miners the bank tracks now accounts for a record high 33.6% of the global network.

Animoca Brand’s gaming token TOWER grew 8X fast than Ethereum this month; gaming investment and active wallets went up in July. Web3 Gamer. A gaming crypto token created by Animoca Brands has surged 214% over the past month and caught the eye of savvy investors after the companys popular chairman, Yat Siu, gave it a social media boost. Tower was the fifth-most popular cryptocurrency among smart investors on the Base network over the past seven days, according to onchain analytics platform Nansen. Tower is a utility token used across a slew of Animoca titles, including play-to-earn mobile defense game Crazy Kings, Crazy Defense Heroes and real-time PvP fighting game Wreck League. Siu said the hype for the token came down to excitement around the reboot of Wreck League, as well as momentum from the token trending on Base and Farcaster. Read more

Animoca Brand’s gaming token TOWER grew 8X fast than Ethereum this month; gaming investment and active wallets went up in July. Web3 Gamer. A gaming crypto token created by Animoca Brands has surged 214% over the past month and caught the eye of savvy investors after the companys popular chairman, Yat Siu, gave it a social media boost. Tower was the fifth-most popular cryptocurrency among smart investors on the Base network over the past seven days, according to onchain analytics platform Nansen. Tower is a utility token used across a slew of Animoca titles, including play-to-earn mobile defense game Crazy Kings, Crazy Defense Heroes and real-time PvP fighting game Wreck League. Siu said the hype for the token came down to excitement around the reboot of Wreck League, as well as momentum from the token trending on Base and Farcaster. Read more

A China Merchants Bank subsidiary launched a Hong Kong-based crypto exchange for professional investors after securing a virtual asset service provider license. CMB International Securities Limited, a subsidiary of the China Merchants Bank (CMB) — one of China’s top banks — launched a cryptocurrency exchange in Hong Kong. According to a Monday CMB WeChat announcement, the bank has started offering virtual asset trading services. The launch comes after the Hong Kong Securities and Futures Commission approved the bank’s application for a virtual asset service provider license in mid-July. CMB’s Hong Kong-based crypto exchange allows for 24/7 trading of Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) for eligible investors. Documentation provided by the bank clarified that only professional investors are eligible for crypto trading services. Read more

A symmetrical triangle points to $3.90 upside target if $3.26 breaks, however.

The real tokenization revolution is unfolding in private markets, unlocking access, liquidity and inclusion beyond what public stocks offer. Opinion by: Alex Svanevik, CEO of Nansen Since tokenization first gained mainstream attention during the 2017 initial coin offering boom and early blockchain projects aimed at digitizing assets such as equities and commodities, it has been crypto’s go-to pitch for modernizing finance.  For many, however, the conversation stops at tokenizing public equities, putting existing stocks onchain for fractional ownership and 24/7 trading. While these steps are nice to have, they’re a far cry from a revolution. The truth is that equities are already very efficient markets, meaning the marginal gains from deploying blockchain technology are notably small. Read more

Bitcoin Cash (BCH) was also an underperformer, declining 4.2% from Friday.

The Japanese firm's latest buy puts its holdings at almost 63% of its Bitcoin acquisition goal for this year.

ASICKey executive Samuel Li said that solo Bitcoin miners have a one in 650,000 chance of solving a block every 10 minutes with one petahash of hashpower. A solo miner successfully mined a Bitcoin block on Sunday, collecting a 3.137 BTC payout, worth about $371,000 at the time. The miner operated through the Solo CK pool, a service for solo miners. They mined block 910,440 and collected the standard 3.125 BTC and about 0.012 BTC in transaction fees. The block included 4,913 transactions, and the fees totalled $1,455.  With Bitcoin’s hashrate being dominated by massive industrial-scale mining operations, the chances of a solo miner hitting a block are slim. Yet, with efficient hardware, even smaller players can claim the same block rewards in rare instances.  Read more

Institutions are buying up Bitcoin, but the average fund manager is barely allocated to crypto. What does it mean?

A savvy trader turned a $125,000 investment into almost $43 million at its peak, before locking in almost $7 million of profit after the market downturn decreased their long positions. A cryptocurrency investor turned a $125,000 stake into a multimillion-dollar profit trading Ether on a decentralized exchange, even as whales began locking in gains after the recent rally. The savvy trader turned an initial investment of $125,000 into over $43 million at its peak in just four months before the latest market downturn hit his Ether (ETH) long position. Despite the market downturn, the trader closed all his positions, locking in a net profit of $6.86 million on Monday, generating an impressive 55-fold return on his investment, according to blockchain data platform Lookonchain. Read more

Analysts called the market move "a corrective pullback within an uptrend," ahead of Thursday’s Jackson Hole Economic Symposium.

The news comes alongside Fluidstack exercising its option to expand at WULF's Lake Mariner data center campus.