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DOGE open interest up 19% amid price ‘breaking out’ to monthly high

Doge interest among future traders is ramping up amid the price ‘breaking out’ to its highest in 34 days.

Traders are ramping up their positions on Dogecoin as its price "breaks out," reaching its highest monthly level on July 20. However, not all are convinced that the bullish pattern is confirmed just yet.

“DOGE is breaking out and looks primed for an aggressive up move,” pseudonymous crypto trader Shelby wrote in a July 20 X post. They reiterated that Doge’s price breaking out has previously been “a catalyst” for other altcoins to follow, including Floki (FLOKI) and Shiba Inu (SHIB), which have increased 37% and 3.89% respectively, according to CoinMarketCap data.

Meanwhile crypto trading accounts Cheds and CryptoBoss pointed to the “nice base break” on Dogecoin’s price, claiming that it is “breaking out.” DOGE is currently trading at $0.1336, up 18.82% over the past seven days.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

New zero energy storage tech could lead to immortal blockchains

Today’s tech allows us to preserve data for thousands of years with zero energy usage, tomorrow’s could ensure Satoshi’s vision lives on forever.

Recent advances in the field of long-term storage could form the basis for the development of immutable digital ledgers capable of storing data for millions of years without power. In other words: immortal blockchains.

At its core, blockchain technology operates on the simple premise that data is demonstrably safer in a decentralized ledger than it is on a centralized server.

In the event of a local outage, such as the failure of a power grid, the ledger remains safe as long as there are nodes elsewhere still in operation. A centralized server can only store and serve data for as long as it’s powered.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

Pudgy Penguins lands in Pixelverse, Ether ETFs, and more: Hodler’s Digest, July 14-20

Pudgy Penguins gets a character in Pixelverse’s mini-game, the influence of ETFs on ETH price, and Craig Wright admits he’s not Satoshi.

The face of the popular non-fungible token (NFT) collection Pudgy Penguins will be integrated as a character on Pixelverses mini-game on Telegram. On July 16, Pixelverse announced that it would introduce the Pudgy Penguins character Pudgy into the game, joining other crypto favorites such as Doge from the Dogecoin memecoin and Mew, a character that represents a Solana memecoin. The integration allows players to play the character in the Pixelverse game. A standalone Pudgy Penguins mobile game is slated for release sometime in 2025. While the NFT market is down, some experts argued that the space is experiencing a correction cycle.

Craig Wright issued a legal disclaimer on the home page of his website on July 16, emphatically stating that he is not the pseudonymous creator of Bitcoin, Satoshi Nakamoto. The disclaimer cited the recent ruling from the United Kingdoms High Court of Justice and directed website traffic to the summary of the findings presented by the Crypto Open Patent Alliance. The disclaimer admits that Wright was not the author of the Bitcoin white paper and concedes that the computer scientist does not hold a copyright to the technology outlined in the white paper.

United States spot Ether exchange-traded funds (ETFs) will have a rough start but could have a bigger impact on the assets price than Bitcoin ETFs did for BTC, according to Bitwise chief investment officer Matt Hougan. According to Hougan, one reason Ether ETFs will have a bigger impact on the assets price is that Ethers inflation rate effectively amounts to zero, given the widespread usage of Ethereum-based applications compared to the small amount of ETH created daily.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

Ethereum ETFs are coming — Here’s what you need to know

Are you ready for the July 23 launch of nine spot Ethereum ETFs? Here's what you need to know to start trading.

After years of regulatory pushback and countless amended registration filings, spot Ether (ETH) exchange-traded funds (ETFs) are finally hitting the market. 

For the first time, shares of publicly-traded Ethereum (ETH) ETFs will be listed alongside the likes of Apple Inc (AAPL) and SPDR S&P 500 ETF Trust (SPY) on some of the United States’ most popular brokerage platforms.

The anticipated listings are a defining moment for cryptocurrency markets and an opportunity for millions of US institutional and retail investors. Here’s what you need to know to make the most of it.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

Meta reportedly cut metaverse budget by 20% as Q2 earnings call looms

Despite Q1 company earnings rising 27% year-over-year, Reality Labs will have to cut costs.

Meta will reportedly cut the budget of its Reality Labs, the division responsible for developing the company’s metaverse hardware and software, by about 20% between now and 2026. 

This comes via a report from The Information and aligns with recent indications that Meta plans to shift Reality Labs into production mode ahead of several high-profile hardware launches slated over the next couple of years.

Analysts for Bank of America opined that the cost-cutting measures would net Meta a savings of about $3 billion.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

TSMC becomes first Asian company to reach $1T as AI demand surges

The company is now worth more than Broadcom and closing in on Meta.

Taiwan Semiconductor Manufacturing Company Limited, more commonly known as TSMC, became the first Asian firm to reach a market capitalization of more than a trillion dollars as it briefly surpassed Berkshire Hathaway on June 20 to become the eight most valuable company in the world. 

The company’s quiet rise comes on the wings of its massive portfolio of tech and manufacturing giants who source its semiconductors.

TSMC is the world’s largest semiconductor manufacturer. Its top customers include Apple, AMD, Intel, Nvidia, Intel, and Qualcomm. However, Apple is by far its largest client, thanks to the use of TSMC semiconductors in iPhones, accounting for around a fifth of its total revenue.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

South Korea’s strict laws on crypto exchanges come into force

The new regulations issued by South Korea’s watchdog to protect user assets on crypto exchanges went into effect on July 19.

The much-talked-about new regulations from South Korea’s financial security regulator, designed to protect users buying and storing crypto assets with virtual asset service providers (VASPs), came into force on July 19.

Titled the “Virtual Asset User Protection Act,” VASPs must take several steps to ensure the protection of user’s crypto, according to a July 17 statement from South Korea’s Financial Services Commission (FSC).

These include taking out insurance against hacking and malicious attacks against the user’s crypto assets, keeping the customer’s crypto assets separate from the exchange’s assets, and a requirement to keep customer deposits “safely kept in banks.”

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

Crypto firms’ vulnerability to CrowdStrike blackout: Analyst insights

Although no major crypto exchange was affected by the CrowdStrike downtime, analysts provided possible impacts in a case where they are.

The recent data blackout CrowdStrike experienced has raised questions about its potential impact on various industries, including cryptocurrency firms. Blockchain researcher and ex-CEO of Naijacrypto Chiagozie Iwu provided insights into how the disruption could have affected crypto companies and offered recommendations to mitigate associated risks.

Speaking with Cointelegraph, Iwu pointed out that blockchain-native companies, which operate on decentralized networks, are inherently more resilient to such disruptions. “For blockchain-native companies, they have nothing to worry about as the elements of node-based decentralization mitigate this risk,” he said.

However, he cautioned that centralized crypto platforms could be vulnerable to similar issues in the future. He suggested that institutions might start considering decentralized cloud-based architectures, like those of the internet Computer (Dfinity), to bolster their resilience.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

Ether price may dip after ETF ‘novelty’ wears off due to surging supply

Into The Cryptoverse founder Benjamin Cowen says if supply keeps increasing it will "revert" to similar levels before the Ethereum Merge in September 2022.

Ethereum’s price might decline after the initial buzz surrounding spot Ethereum exchange-traded funds (ETF) wears off if its supply continues to increase at the current rate, according to an analyst.

“If the supply of ETH keeps increasing by ~60k/month like it has been since April, then by Dec the supply will be back to what it was at the merge,” crypto trader and Into The Cryptoverse founder Benjamin Cowen wrote in a July 19 X post, referring to when the much-anticipated Merge transitioned Ethereum (ETH) to its current proof-of-stake consensus model in September 2022.

Ethereum, which became deflationary after the Merge, saw its supply drop by approximately 455,000 ETH by April 2024.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline

‘10:1’ odds against US Bitcoin strategic reserve by 2028: BlockTower Capital

BlockTower Capital CIO Ari Paul is prepared to “lay 10:1” against the possibility of the US creating a Bitcoin strategic reserve in the next four years.

The idea of the United States government holding a Bitcoin strategic reserve may be "bullish" for its price, but is unrealistic to actually come to fruition in the near term, according to chief information officer at BlockTower Capital, Ari Paul.

“I’d lay 10:1 against the US adding Bitcoin as a strategic reserve in the next 4 years,” Paul wrote in a July 18 X post

“With that said, plausible to me that Trump might *say* it, which would be very bullish for the BTC medium time frame,” he added, amid traders pointing out the struggle that Bitcoin (BTC) has had reclaiming the $65,000 price level as support in recent times.

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MicroStrategy’s Michael Saylor Says Bitcoin Will Hit $13,000,000 in Base-Case Scenario – Here’s His Timeline