Hodler’s Digest, July 14-20 – Cointelegraph Magazine

High Tales This Week

Pixelverse to place Pudgy Penguin character on Telegram mini sport

The face of the favored non-fungible token (NFT) assortment Pudgy Penguins might be built-in as a personality on Pixelverse’s mini-game on Telegram. On July 16, Pixelverse introduced that it might introduce the Pudgy Penguins character “Pudgy” into the sport, becoming a member of different crypto favorites resembling Doge from the Dogecoin memecoin and Mew, a personality that represents a Solana memecoin. The combination permits gamers to play the character within the Pixelverse sport. A standalone Pudgy Penguins cellular sport is slated for launch someday in 2025. Whereas the NFT market is down, some consultants argued that the area is experiencing a correction cycle.

Craig Wright admits he’s not Satoshi, points disclaimer on his web site

Craig Wright issued a authorized disclaimer on the house web page of his web site on July 16, emphatically stating that he’s not the pseudonymous creator of Bitcoin, Satoshi Nakamoto. The disclaimer cited the latest ruling from the UK’s Excessive Court docket of Justice and directed web site visitors to the abstract of the findings offered by the Crypto Open Patent Alliance. The disclaimer admits that Wright was not the writer of the Bitcoin white paper and concedes that the pc scientist doesn’t maintain a copyright to the know-how outlined within the white paper.

Ethereum ETFs could have an even bigger influence on ETH value: Bitwise

United States spot Ether exchange-traded funds (ETFs) could have a tough begin however may have an even bigger influence on the asset’s value than Bitcoin ETFs did for BTC, in accordance with Bitwise chief funding officer Matt Hougan. In line with Hougan, one cause Ether ETFs could have an even bigger influence on the asset’s value is that Ether’s inflation price successfully quantities to zero, given the widespread utilization of Ethereum-based functions in comparison with the “small quantity of ETH” created day by day.

State Avenue eyes blockchain leap with stablecoin, deposit token: Report

State Avenue has taken a severe curiosity in blockchain settlement know-how. In line with Bloomberg, the worldwide asset supervisor is contemplating creating its personal stablecoin and deposit token. As well as, it might leverage its funding in UK-based cost startup Fnality to create new settlement choices and be part of “digital-cash consortium efforts.” State Avenue created a devoted digital finance division in 2021. That division later noticed layoffs, however was revived and built-in into the primary enterprise this yr.

Trump reportedly ‘in good spirits,’ will nonetheless attend Nashville BTC convention

Former United States President Donald Trump nonetheless plans to talk on the Bitcoin Convention in Nashville, Tennessee, regardless of having survived an assassination try on July 13 in Pennsylvania, in accordance with David Bailey, one of many occasion’s organizers and the CEO of Bitcoin Journal. The occasion runs from July 25 via July 27, with Trump slated to talk on July 27.

Winners and Losers

On the finish of the week, Bitcoin (BTC) is at $66,239, Ether (ETH) at $3,486 and XRP at $0.56. The full market cap is at $2.42 trillion, in accordance with CoinMarketCap.

Among the many greatest 100 cryptocurrencies, the highest three altcoin gainers of the week are dogwifhat (WIF) at 61%, Worldcoin (WLD) at 55.94% and Arweave (AR) at 48.98%. 

The highest three altcoin losers of the week are Uniswap (UNI) at 1.45%, TRON (TRX) at -1.19% and Gnosis (GNO) at -0.45%.

For more information on crypto costs, be sure to learn Cointelegraph’s market evaluation.

Most Memorable Quotations

“If you happen to see a ‘pro-crypto’ politician at this time, it’s price it to discover their underlying values, and see which aspect they’ll prioritize if a battle does come up.”

Vitalik Buterin, co-founder of Ethereum

“Bitcoin L2s aren’t simply an innovation; they’re a necessity for the evolving crypto ecosystem in Asia.”

Robbie Liu, head of Asia at Polyhedra Community

“Innovation is not elective however important for navigating future challenges, requiring steady pursuit of excellence.”

The Worldwide Affiliation for Trusted Blockchain Functions

“We imagine that cryptocurrency ought to convey day by day advantages to humanity, not simply sit in a financial institution vault.”

Andrey Lazutkin, chief know-how officer at Tangem

“Have in mind after launch there’s flows after which add’l ETH merchandise I’m positive, then Solana, after which.. it’s most likely by no means going to finish. The dam has damaged.”

Eric Balchunas, senior ETF analyst at Bloomberg

“China’s concern with crypto has at all times been the capital flight. […] Cryptocurrencies additional democratize finance and allow capital flight for center and low-income courses.”

Mikko Ohtamaa, CEO and co-founder of Buying and selling Technique

Prediction of the week

Merchants eye $71.5K Bitcoin value as open curiosity jumps 13%

Bitcoin may very well be headed towards the $71,500 mark after breaching the $65,000 value level on Tuesday primarily based on historic patterns, as noticed by crypto merchants.

The worth rebound has additionally elevated curiosity amongst future merchants betting on Bitcoin’s near-term value actions. “Breaking $65,000 would imply value could be prepared to maneuver contained in the $65,000-$71,500 area,” pseudonymous crypto dealer Rekt Capital wrote in a July 16 X submit, when Bitcoin was hovering simply shy of $65,000.

Nonetheless, an enormous quantity of quick positions are liable to being liquidated at $71,500, that means many future merchants are assured the worth received’t attain that stage for now. Roughly $1.47 billion briefly positions might be wiped at $71,500, in accordance with CoinGlass information.

FUD of the Week

Indian crypto alternate falls sufferer to $235M hack

Indian cryptocurrency alternate WazirX allegedly suffered a big safety breach on July 18, resulting in the lack of roughly $235 million. The hack concerned a number of suspicious transactions from WazirX’s Protected Multisig pockets, detected on the Ethereum blockchain by Web3 safety agency Cyvers. The hacker shortly exchanged the stolen belongings into varied cryptocurrencies, together with Ether, Tether, Pepe and others. In response to the incident, WazirX has paused withdrawals and is claimed to be investigating the breach.

Mt. Gox collectors report a number of ‘brute-force’ makes an attempt on their accounts

A Mt. Gox creditor subreddit has been awash with experiences over the week from customers seeing a number of login makes an attempt on their accounts — sparking fears of a possible cyberattack. In a subreddit for Mt. Gox collectors often called “r/mtgoxinsolvency,” a number of customers reported points logging into their accounts on the Mt. Gox web site, whereas others shared screenshots exhibiting numerous unauthorized log-in makes an attempt on their accounts. The defunct crypto alternate has now distributed 36% of the Bitcoin to collectors after not too long ago shifting over 140,000 Bitcoin, price nearly $9 billion, to a recognized chilly pockets and two unknown addresses.

Li​.Fi protocol attacked, $10M drained

Li.Fi, an utility programming interface for Ethereum Digital Machine and Solana swaps and bridging, was attacked on July 16, ensuing within the lack of over $10 million in cryptocurrencies. Li.Fi warned its neighborhood on X that customers shouldn’t work together with Li.Fi-powered functions till additional discover. Later, a Li.Fi spokesperson knowledgeable Cointelegraph that the “sensible contract exploit” had been contained and the “affected sensible contract side disabled.” Roughly $10 million in crypto holdings have been drained, which additionally affected the Arbitrum blockchain.

High Journal Items of the Week

Saudi Arabia’s Riyadh could also be crypto’s sleeping big: Crypto Metropolis Information

Whereas crypto should function in a grey area in Saudi Arabia, the nation’s expertise pool and burgeoning gaming sector holds promise for Net.

Coinbase is not going to point out ‘crypto’ in 5 years: Avichal Garg, X Corridor of Flame

Electrical Capital co-founder Avichal Garg believes that spot Bitcoin ETFs have helped ease the blow from the collapse of crypto alternate FTX.

Crypto-Sec: Evolve Financial institution suffers information breach, Turbo Toad fanatic loses $3.6K

A Turbo Toad fanatic misplaced over $3,000 from a phishing assault, Microsoft patched one more “zero-click” Workplace vulnerability, and Evolve leaked 33TB of buyer information to ransomware attackers.

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Cointelegraph Journal writers and reporters contributed to this text.