News Explorer — Bitcoin, Ethereum, Dogecoin Swiped in $21M SBI Hack, Says Sleuth Decrypt
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Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, have donated $21 million in Bitcoin (188 BTC) to the Digital Freedom Fund PAC. This move is a direct effort to support President Donald Trump’s vision of making the United States a global leader in cryptocurrency. Gemini Founders Winklevoss Twins Back Trump Crypto Vision The
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]]>Bitcoin critic Peter Schiff has sparked a debate on X by calling the 21 million BTC supply cap arbitrary. He raised questions about Bitcoin’s scarcity amid the recent rally to an ATH of $118K, claiming that its perceived value is based more on public belief than actual scarcity, triggering a wave of responses across the
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]]>Cardano Up 13% & Rising, $2.1M in 1Fuel’s ICO Steers More ADA Holders into 100x Predicted ICO Launch Coinspeaker
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$2.1M Milestone: Shiba Inu and Dogecoin Join Major 1FUEL’s ICO Market Entry: Is This One To Watch? cryptodnes.bg
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Key takeaways
- A soft U.S. inflation report later today could see Bitcoin rally above the $97k level.
- iDEGEN’s presale surpasses $21m ahead of the Feb. 27 listing.
Bitcoin trades above $96k ahead of CPI
The cryptocurrency market has been bearish this week, with BTC dipping below $94k on Tuesday. However, it is trading above $96k per coin and could rally higher on CPI news later today.
Analysts expect the January U.S. CPI report to show limited progress on inflation. It’s expected to show that the cost of living increased by 0.3% month-on-month in January, slowing down from December’s 0.4% rise.
This will be positive news for risk-based assets like Bitcoin, and BTC’s price could surge past the $97k mark in the coming hours.
What is iDEGEN?
The cryptocurrency market is bearish this week, but investors continue to push more funds into new and promising projects. iDEGEN is a promising project that has attracted millions of dollars from investors.
It is a meme project that leverages the benefits of AI to create the next billion-dollar memecoin. The project has raised over $20 million in its presale and allocated the money to launch several products and services.
According to the whitepaper, iDEGEN is an AI tool that primarily functions as such. It continuously evolves and adapts by leveraging community feeds on X. While iDEGEN is powered by AI, degens ultimately raise the tool.
Its native token, $IDGN, will power various activities within the ecosystem. Although it will launch as a memecoin, iDEGEN will offer various utilities to its community and the broader crypto space.
Its launch as a memecoin stems from the recent growth of the meme narrative in the crypto space. Last year, the memecoin ecosystem grew from a $20 billion market cap to $120 billion, representing a 500% growth within 12 months.
The $IDGN launch on exchanges will occur in roughly two weeks. Once it goes live, it could become one of the best-performing coins in the broader crypto market.
iDEGEN users feed the tool their data through tweets, tags, and comments. The iDEGEN tool absorbs the post and adds it to its knowledge base; that’s how it learns. Furthermore, iDEGEN posts on X every 60 minutes and can generate and post memes.
iDEGEN’s presale hits $21m
Despite the current market conditions, the iDEGEN project continues to achieve new milestones. The presale has now officially surpassed $21 million from early investors.
In the current stage, the $IDGN token is worth $0.0236, and its price will increase to $0.0259 in the next stage. In the final presale stage, it will be worth $0.038, giving early investors a massive ROI before the token launches on exchanges.
Once the presale ends, iDEGEN’s native token will list on centralised and decentralised trading platforms.
Is it ideal to invest in iDEGEN before its exchange listing?
The iDEGEN presale is still ongoing but will end in 14 days. It could become one of the biggest performers in the market once the $IDGN token is listed on cryptocurrency exchanges.
Its unique value proposition makes it an interesting memecoin. iDEGEN could gain massive adoption within the crypto ecosystem as its tool offers an excellent use case. Early investors stand a chance to earn excellent ROI once $IDGN goes live.
- The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
- Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup.
- MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC
KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset.
A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million.
KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC.
On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagship cryptocurrency.
KULR Technology Group, Inc. ( $KULR ) begins its Bitcoin Treasury strategy with the purchase of 217.18 $BTC for $21M, averaging $96,556 per BTC.
Using $COIN ’s Prime platform for custody and wallets, KULR is allocating up to 90% of surplus cash to BTC.https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
— KULR Technology (@KULRTech) December 26, 2024
With sentiment extremely bullish amid the anticipation around pro-crypto Donald Trump’s administration, several companies have adopted or disclosed plans to add BTC to their treasury strategies..
These include Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.
Metaplanet became known as ‘Asia’s MicroStrategy’ after adopting the BTC strategy to lead the Asian charge. MicroStrategy has regularly bought Bitcoin since its first purchase in 2020, and currently holds 444,262 BTC acquired for over $27 billion.
“The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL noted in its announcement on Boxing Day. Coinbase Prime will offer custody and wallet services for KURL’s haul of BTC.
Bitcoin traded around $95,670 at the time of writing, about 3% down in the past 24 hours.
American energy management company KULR Technology Group Inc. (NYSE American: KULR) on Thursday caused a market stir, revealing that it purchased 217.18 BTC for $21 million. The decision to accumulate the crypto amid the recent market volatility comes falling in line with the firm’s Bitcoin Treasury strategy launched earlier this month.
KULR Acquires $21M Worth BTC Sparking Market Discussions
In an official press release dated December 26, KULR Technology Group, Inc. announced that it had completed the purchase of 217.18 BTC for approximately $21 million. Per the company’s announcement, the average price for the purchase was registered as $96,556.53 per Bitcoin.
Notably, the massive purchase falls in line with the energy management company’s Bitcoin Treasury strategy announced on December 4, i.e., earlier this month. For context, the firm’s new treasury plan boasts of allocating up to 90% of its surplus cash to purchase the flagship crypto. As an initial effort forging ahead with this endeavor, KULR announced the purchase of $21 million worth of BTC, as mentioned above.
Also, the firm chose the Coinbase Prime platform to avail of custody, USDC, and self-custodial wallet services for its BTC. Altogether, the massive purchase has set off waves of discussions across the broader industry as the crypto market currently faces turbulence whilst the purchase paves a bullish path for the crypto’s future movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Hybrid DTX Exchange Teases With $2.1M Presale While Chainlink and Shiba Inu Prices Lag Crypto News Flash
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In the early hours of Monday, a dormant whale moved $21 million worth of 4 DeFi tokens to the crypto exchange Binance. The news received mixed reactions from the community, which worries about an incoming dump amid the recent retrace of the crypto market.
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Whale Deposits $21 Million In DeFi Tokens To Binance
On Monday, on-chain analytic firm Spotonchain reported a dormant whale had deposited around $13 million in crypto to Binance. After a year of holding, The whale sent 3,800 Maker (MKR) and 20,000 Aave (AAVE) to Binance.
The firm later revealed that the whale was seemingly Tron founder Justin Sun. Three of the 13 addresses believed to be owned by Sun were wallets that conducted the transfers.
Per the post, the whale deposited $21 million worth of 4 DeFi tokens to Binance in 30 minutes. The addresses sent 93,979 AAVE, worth around $11.26 million, and 3,800 MKR tokens.
The addresses purchased the MKR tokens in June 2023 for $2.43 million, acquiring the 3,800 tokens at an average price of $641.81. Meanwhile, the AAVE tokens were bought from June 2023 until January 2024 at an average price of $87.14.
At the time of the post, the crypto whale had around $7 million in estimated profits, $6.74 million from MKR, and $252,000 from AAVE.
Additionally, Sun sent over 4,000 and 200,000 Compound (COMP) and Liquity (LQTY) tokens to the exchange. The transactions account for 4,178 COMP, worth around $245,000, and 203,823 LQTY, worth approximately $217,000.
Are Sun’s Transfers Bearish Or Bullish?
The deposits raised concerns among the crypto community as deposits on exchanges are considered bearish and could significantly decrease a token’s price if dumped.
Nonetheless, some considered Sun’s movements as a bullish signal. An X user stated his optimism, claiming that whales “always deposit during the consolidation before the breakout.”
Similarly, other crypto investors believe it’s “time to load up on DeFi” and that “Justin is about to give us generational entry.”
It’s worth noting that the community closely follows Tron’s founder’s on-chain movements. As reported by NewsBTC, Sun is suspected to be the whale behind some of the massive Ethereum (ETH) purchases from Q1 2024. Sun seemingly bought over $891 million worth of ETH during the buying spree.
Despite the community’s reaction, the 4 DeFi tokens sent to Binance didn’t react significantly to the transactions.
After the news, AAVE saw a mild 1.4% drop to the $91.26 level before recovering the $92 support zone. The token saw a 12.4% drop on Friday following the recent market downturn.
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Similarly, MKR saw a sharp 10.6% decline over the weekend, falling from the $2,600 to the $2,300 price range. However, the token has seen a 3.1% price decrease in the last 24 hours. MKR dropped by 1.8% after the news but failed to recover in the following hours, currently trading below $2,400.
Featured Image from Unsplash.com, Chart from TradingView.com
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