Crypto

SOL’s price is painting a textbook cup-and-handle pattern breakout with a price target of around $6,300. Key takeaways: SOL price has climbed to a five-month high, driven by strong technicals and rising network activity.  Solana’s cup-and-handle pattern targets a SOL price of as high as $6,300. Read more

Ethereum ETFs smash records with $2.12B weekly inflows, outshining Bitcoin as institutional investors pile into the surging altcoin.

As US conservatives rapidly shape the crypto landscape through policy, funding and grassroots adoption, progressives remain divided and hesitant. Progressives lack a unified strategy and risk losing relevance. Opinion by: Michael Rovner When US President Donald Trump called for America to become “the crypto capital of the planet,” he acknowledged a growing sentiment among his supporters. Crypto is no longer simply an asset class or subculture to this group; it’s a parallel financial system being shaped by tech-savvy conservatives for political and economic ends. Political campaigns now use crypto as core fundraising infrastructure. Conservative lawmakers, strategists and donors use it to reshape decisions, particularly in places with fewer regulations. This has created an environment shaped by right-leaning values, with progressives essentially sitting it out. Read more

XRP reaches 7.2 million wallets as whale outflows drop 94% and price holds $3.50 after hitting $3.65.

The company bought Bitcoin at an average price of $118,940 per coin last week.

From GPUs to AI deals, Bitcoin miners are finding new lifelines beyond crypto. AI is becoming a major revenue stream for them. The 2024 Bitcoin halving reduced block rewards to 3.125 BTC, cutting miners’ income in half. This change, combined with higher electricity costs, expensive equipment maintenance and increased competition, made traditional mining less profitable. Many mining companies struggled to maintain their profit margins and began exploring other revenue sources. Although Bitcoin mining relies on devices called ASICs, mining companies have access to energy-dense data centers and power infrastructure. As demand for AI compute skyrockets, many miners are repurposing or upgrading their facilities with GPUs to support AI training and inference workloads.  Read more

Security firms such as Sygnia and Seal911, along with Solana and Wormhole, are aiding CoinDCX in tracing and freezing stolen funds.

Aave’s community overwhelmingly approved a proposal to license a centralized version of its lending protocol for deployment on Kraken’s Ink blockchain. A proposal for the decentralized finance (DeFi) lending protocol Aave to launch a centralized version of its service on the crypto exchange Kraken’s Ink blockchain has received widespread approval among the community. An Aave request for comment (ARFC) for the deployment of a whitelabel version of Aave v3 for the Ink Foundation, the organization behind the Ink blockchain, was approved with 99.8% of the votes cast in favor. An ARFC acts as a preliminary offchain vote before proceeding with a full decentralized autonomous organization (DAO) vote. The next phase involves drafting an Aave improvement proposal (AIP) that will be voted onchain. Read more

BitGo confidentially submits S-1 filing to the Securities and Exchange Commission amid $100 billion in assets under custody and growing international expansion. Digital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industry’s continued push toward mainstream financial markets. On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock. At the time of filing, no determination was made on the number of shares or price range of the stock offering. As of publication, the registration statement had not yet appeared on the SEC’s EDGAR database. Read more

A smart whale opened four positions worth over $120 million cumulatively, longing these four popular cryptocurrencies.

CryptoPunks remained the top NFT collection by market capitalization, with a valuation of $1.8 billion, according to NFT Price Floor. Ethereum-based non-fungible tokens (NFT) collections took over the latest seven-day sales rankings, accounting for nine of the top 10 collections by total sales volumes.  On Monday, CryptoSlam data showed nine of last week’s top 10 collections by sales volume were Ethereum-based NFTs, including popular collections CryptoPunks, Pudgy Penguins, Moonbirds and Azuki. The only non-Ethereum collection in the top 10 was the Polygon-based Courtyard NFTs.  Read more

NextGen Digital Platforms Inc. has officially entered the world of corporate crypto treasury strategies with the acquisition of $1 million worth of Bitcoin.  The post Canada’s NextGen Digital Launches Crypto Treasury Strategy with $1M Bitcoin Acquisition appeared first on Cryptonews.

A veteran hacker warns how quantum computing could quietly dismantle the cryptography securing Bitcoin and blockchains. A hacker-turned-defender warns that most of the industry is asleep on crypto’s existential threat: quantum computing. David Carvalho, CEO of post-quantum infrastructure firm Naoris Protocol, began hacking at the age of 13, experimenting with spam emails to attract job offers and gain attention from employers. Eventually, that curiosity shifted into formal cybersecurity work, where he used the same skills to defend systems instead of probing them. Today, he builds quantum-resilient systems for decentralized networks and claims that the cryptographic foundations of blockchains like Bitcoin and Ethereum are dangerously outdated. Read more

An unknown user bought 45 CryptoPunks, causing major NFT collections to surge—including Pudgy Penguins and its Solana token.

The Indian crypto exchange announced a recovery program of up to 25% for ethical hackers who can help recover the stolen stablecoins. Indian cryptocurrency exchange CoinDXC announced a recovery effort after falling victim to a $44 million exploit on Friday, with the firm pledging a bounty for ethical hackers who help retrieve the stolen funds. CoinDXC’s internal accounts used for “liquidity provision” were exploited on Friday, leading to $44 million worth of cryptocurrency being stolen, while user funds remained unaffected. In an effort to recover the stolen funds, CoinDCX CEO Sumit Gupta announced a new recovery bounty program that offers white hat hackers up to 25% of any recovered funds they can help trace and retrieve. Read more

Hashed Emergent’s Vishal Achanta told Cointelegraph that COINS Act aims to turn India from a “regulatory minefield” into a destination of choice for the crypto community. Web3 venture firm Hashed Emergent and policy advisory group Black Dot have released a model crypto law aimed at clarifying India’s regulatory framework for digital assets. Announced Monday, the Crypto-systems Oversight, Innovation and Strategy (COINS) Act offers a legislative blueprint to support a clearer, industry-led policy environment for crypto in India. The model law is non-binding and does not carry any legal effect unless formally introduced and passed by the Indian parliament.  Still, the framework offers policymakers a blueprint for crypto-related digital rights, including self-custody, protocol access and financial privacy. It also addresses key legal pain points in the country such as punitive taxation, regulatory uncertainty and the absence of a dedicated crypto regulator.  The model law recommends the creation of a new regulato...

Michael Saylor’s Strategy made a fresh $739.8 million investment in Bitcoin last week, with total holdings now reaching 607,770 BTC. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued stacking Bitcoin last week as the cryptocurrency surged past $122,000 for the first time on July 14. Strategy acquired 6,220 Bitcoin (BTC) for $739.8 million during the week ending Sunday, according to a US Securities and Exchange Commission filing on Monday. Strategy’s new Bitcoin purchases were made at an average price $118,940 per coin, with BTC starting the week at historic levels above $122,000 before dropping to an intraweek low of $116,000 and consolidating at around $118,000, according to CoinGecko. Read more

Chinese blockchain Conflux launched Conflux 3.0 network and unveiled a new offshore yuan-backed stablecoin targeting “Belt and Road” cross-border payments. Chinese blockchain Conflux announced a third version of its public network and introduced a new stablecoin backed by offshore Chinese yuan. According to a report from the Shanghai municipal government on Sunday, Conflux announced the developments during a three-day conference over the weekend. At the event, Conflux unveiled a partnership with fintech firm AnchorX and information technology security firm Eastcompeace to support the launch of an offshore yuan-backed stablecoin. The news follows AnchorX receiving in-principle approval for its yuan-pegged stablecoin AxCNH by Kazakhstan’s regulator, the Astana Financial Services Authority, in late February. It is unclear whether Conflux’s stablecoin is AxCNH or a separate project, and the involved companies had not responded to Cointelegraph’s inquiries by publication. Read more

The company plans to launch “one of the largest onchain ETH positions of any public entity” by generating ETH-denominated returns through staking and DeFi participation. A team of crypto-native researchers and public market experts is preparing to launch what it calls the largest yield-bearing Ether fund targeting institutional investors. The company, called Ether Machine, plans to create a publicly traded vehicle offering institutional-grade exposure to Ethereum infrastructure and Ether (ETH) yield, it announced on Monday. It is co-founded by Andrew Keys, a former board member and head of global business development at Consensys, and David Merin, a former corporate development executive at Consensys who now serves as Ether Machine’s CEO. Read more

Ether lost due to bugs and user errors has surged 44% since March 2023, according to Conor Grogan, head of product at Coinbase. Ether lost forever due to user errors and bugs has climbed to 913,111 ETH — around 0.76% of the current circulating supply, according to Coinbase’s head of product, Conor Grogan. Grogan shared the estimate on X on Sunday, noting that the lost Ether (ETH) due to human error and bugs now accounts for more than $3.43 billion at current market prices. When including 5.3 million ETH destroyed via Ethereum Improvement Proposal 1559 (EIP-1559) since 2021, the share of ETH lost is even higher. Read more