Author: Crypto News Live

The crypto market saw two-way volatility in July as speculators reacted to events. The Federal Reserve held the benchmark interest rate at the current 23-year high for the eighth consecutive time. Bitcoin [BTC] traded fairly unchanged on the last day of July in the immediate aftermath of the Federal Open Market Committee’s interest rate decision. Meeting market expectations, Fed policymakers held the benchmark federal funds rate at the 5.25%-5.50% range. With June’s FOMC meeting in the rearview, traders now eye the first rate cut this year in September. In his remarks after the FOMC meeting, Chair Jerome Powell hinted that…

DWF Labs, a prominent crypto trading and market-making firm, is preparing to enter the booming stablecoin sector.In an Aug. 1 statement on social media platform X, Andrei Grachev, the firm’s managing partner, stated:“Following our plans to be a global web3 financial institution, I am happy to announce that DWF Labs is working on a CeDeFi synthetic stablecoin that will allow users to receive a nice yield without losing any flexibility in using their assets.”Grachev did not disclose further details about the stablecoin. However, this move signals increasing institutional interest in the stablecoin market. Over the past year, major financial institutions…

A subsidiary of Animoca Brands has launched the open beta of its new Web3-centric action game, Cosmic Bomber. Developed by industry veterans from Sony, Electronic Arts, Nintendo, Lucas Arts, and Blizzard, the game is now available to over 1.77 million holders of Moca ID, the identity layer of Animoca Brands’ network. Cosmic Bomber offers strategic gameplay, real-time PvP battles, and digital asset ownership, marking an addition to Mocaverse’s social gamification hub, Cosmic Club. Players can navigate diverse blocks, unlock special items, and avoid splash damage while competing in dynamic seasons that introduce new characters and maps. The game aims to…

The Bored Ape Yacht Club (BAYC) collection surged to the top of the non-fungible token (NFT) market with US$1.33 million in sales on July 31, according to CryptoSlam data. The collection slumped throughout July and hasn’t had a single day above US$1 million until Wednesday. The unusual surge has been attributed to Ape Finance, a project that deployed a new contract that allows traders to lock their BAYC NFTs to mint 100 million $BAYC fungible memecoins. The tokens can be burned to claim back the NFTs. One investor who identified the opportunity early boasted a US$150,000 profit in just one…

TL;DRThe DMV’s new partnership with Avalanche is going to streamline the title & registration transfer process, lowering required physical appointments and bringing 42M Californian drivers onchain in the process.Full StoryDid you know all the dreary, soulless office scenes from Fight Club were based on the director’s experience at the DMV?How did we learn that? We didn’t. We just made it up. But you believed it because everyone knows the DMV is a hellscape (with paperwork).Good news for those of you in California: those visits to the DMV are about to be heavily reduced, thanks to the department’s new partnership with…

Ethereum whales accumulated over 126,000 ETH worth $440 million in 48 hours. Metrics, however, indicated a potential reversal. Ethereum [ETH] whales have been on a shopping spree over the last 48 hours. These large holders have bought up over 126,000 ETH, worth about $440 million, per analyst ali_charts. This has created a large influx of buying pressure at a time when the overall cryptocurrency market was showing mixed signals. Exchange activity heats up Accompanying whale accumulation, exchanges have recorded an increase in activity. Major platforms showed a rise in ETH trading volumes, according to IntoTheBlock data. This uptick in exchange…

The well-known eSports gaming platform Elfin Metaverse has partnered with Coin98 Super Wallet to connect eSports and GameFi. They aim to create earning opportunities for their users through eSports and GameFi. We’re now integrated with @coin98_wallet, the leading multi-chain crypto wallet and DeFi gateway! This collaboration allows us to combine our strengths in eSports and GameFi, creating new and exciting opportunities for our communities.Get ready for some amazing surprises we’ve… pic.twitter.com/D5fH6EWF1l — Elfin Metaverse (@ElfinGames) July 31, 2024 Built on Elfin Lands, Elfin Metaverse is an open-world Metaverse and eSports platform where one can meet new users and play virtual…

Cryptocurrency trading can be a roller-coaster ride, with prices soaring to new heights one moment and plummeting the very next. Amidst this volatility, one constant remains crucial for traders: understanding their Profit and Loss (PnL). In this article, we’ll dive deep into what PnL means, how to calculate it, and why every trader needs to understand it. By the end of this guide, you’ll have a solid grasp of PnL and be better equipped to make informed trading decisions. What Is Profit and Loss? PnL, or Profit and Loss, is a critical financial metric that quantifies the net profit or…

TL;DRFull StoryWould you look at that! History was just made.But not in a good way.For the first time ever, the US national debt surpassed $35 trillion — which equates to over $105k for every living person in the country.That’s the bad news 👆This is the good news 👇The US’ accelerating debt could increase the adoption of Bitcoin and well n’ truly solidify it as a safe haven asset.The less valuable the dollar becomes → the more dollars it takes to buy BTC → BTC’s growing price is (as it always has been) its own advertisement.Preferably, we never have to get…

Two market experts recently revised their predictions for Ethereum, with one claiming that the second-largest crypto token could rise to as high as $100,000. Interestingly, these ultra-bullish predictions align with some predictions made by financial institutions. Ethereum To Rise To $50,000 Ethereum maximalist Adriano Feria predicted in an X (formerly Twitter) post that Ethereum could reach $50,000 in this market cycle. He made this bold prediction in response to Ethereum developer Eric Conner’s prediction that ETH will reach $35,000 this cycle. Conner had initially predicted that ETH would rise above $20,000 in this bull run but eventually revised his price…