New Cryptocurrency on the Rise Amid Bitcoin and Ethereum Fall: Fundraising Reaches $12 Million in Presale
In the realm of technology and cryptocurrency, the week has been buzzing with a host of significant developments. Here's a rundown of some of the key events that have caught our attention.
Cryptocurrency
- Ripple's historic win against the SEC has been attributed to the relentless advocacy of the XRP army, a testament to the power of community support in the crypto space.
- Bitcoin Hyper's presale has raised an impressive $12 million, reflecting strong investor interest. The presale offers staking rewards with an attractive Annual Percentage Yield (APY) of 91%. Bitcoin Hyper is set to become the first-ever Bitcoin Layer-2 blockchain to utilise ZK-rollup technology, aiming to address network issues and unlock new use cases. However, the identities of the project's founders remain unspecified as of now.
- Bitcoin's current value stands at $110,100, marking a 4.6% decline this week. Despite this, the overall outlook for the crypto market remains optimistic, hinting at a potential shakeout before another upward move.
- Ethereum's current value is experiencing a 2.1% decline today, but it remains up 3.9% over the past week. Notably, Ethereum's first DeFi game has gone live, adding a new layer of interactivity to the platform.
- Meanwhile, an Ethereum ICO investor resurfaced with a $4.3B bag, potentially implying a potential sell-off in the near future.
- On the meme coin front, TOKEN6900 is entering the final 2 days of its presale.
Tech and Finance
- Google services went dark in Eastern Europe, with countries like [details needed] being affected the most.
- President Vladimir Putin rejected top bankers' warning that Russia's economy is stagnating.
- Broadcom stock surged 4% after earnings beat and a $10 billion custom chip order.
- Robinhood was added to the S&P 500, causing stocks to surge 7%.
- Musk's Tesla Robotaxi app beat Uber and Waymo in downloads amid a new safety plan.
- BitMine pumped $358M into Ethereum, further solidifying institutional investments in the cryptocurrency.
- Regulatory developments like GENIUS are helping to legitimise the crypto industry and encourage adoption.
- Kazakhstan is testing crypto cards with Mastercard, a step towards wider crypto adoption in the region.
In the world of technology and finance, it's clear that innovation and change are the order of the day. Stay tuned for more updates as these stories continue to unfold.
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