Bitcoin’s dull range-bound action is likely to continue for a few more days as the bulls and the bears battle for control of BTC price. Bitcoin (BTC) is witnessing a see-saw battle between the bulls and the bears. After receiving more than $595 million in inflows into the spot Bitcoin exchange-traded funds on May 3 and May 6, the tide turned on May 7 with an outflow of $15.7 million, according to Farside Investors data. Irrespective of the short-term uncertainty, crypto bull Anthony Pompliano remains bullish for the long term. While speaking to CNBC, Pomp said that Bitcoin’s 200-day simple mo ..read more

Despite strong demand for crypto-savvy workers, there exists a shortage of highly-experienced employees. Amid an industry boom, crypto education initiatives are quickly gaining traction.  On May 7, organizers of the Women in Tech Global Summit 2024 announced that they would incorporate Unstoppable Domain's technology for its own Web3 top-level domain (TLD). Dubbed ".WITG," the digital identity domain, assignable to each participant, will allow users to network as well as access education and training at the intersection of technologies such as blockchain and artificial intelligence.  ..read more

The Morpheus Network and 6079 are leading a movement to challenge the supremacy of Big Tech giants by employing decentralized, permissionless AI technology. The world of artificial intelligence (AI) has become crowded by a small group of Big Tech companies vying for the largest cut of the market. This could lead to an elite few gatekeeping arguably the world’s most powerful technology. However, two companies are looking to shift the direction of the AI space toward decentralization using Web3 technologies. The Morpheus Network, an open-source network building decentralized AI smart agents, an ..read more

The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers while Treasury writes a report. A bill has been introduced in the United States House of Representatives to ban cryptocurrency mixers for two years. Called the Blockchain Integrity Act, it is sponsored by five Democratic congressmen led by Sean Casten.  Casten defined a crypto mixer in a statement as a pool that allows users to “generate a new address and withdraw their funds without revealing the link between the depositor and withdrawal addresses.” The bill would temporarily prohibit f ..read more

Analysts forecast a Bitcoin run to $265,000, but it could take longer than investors expect. Bitcoin’s (BTC) price could continue its uptrend and triple its market capitalization, propelling its price above $260,000, according to founder and CEO of on-chain and market analytics firm CryptoQuant Ki Young Ju. “Bitcoin network fundamentals could support a market cap three times its current size compared to the last cyclical top,” Young Ju explained in a May 8 post on X. Young Ju was referring to a chart comparing BTC’s price and the associated hash rate to market capitalization ratio, highlighti ..read more

The rewards will be active until July 7 and will incentivize users to trade, earn, deposit, and borrow on the platform. Crypto lending protocol Nexo is allocating 10 million NEXO tokens, worth $12.5 million at the time of publication, to its users.  "Stack points, multiply your gains, and unlock more surprises," wrote Nexo developers on May 8 regarding the protocol's sixth anniversary. "The Nexonomics-inspired hunt is designed to reward new and existing users for exploring the Nexo ecosystem." From now until July 7, Nexo users can receive up to 0.01 points per $1 of asset top-ups, 10 poi ..read more

Coincheck and Thunder Bridge Capital filed their registration statement with the SEC, bringing their merger and Nasdaq listing closer to completion. Japanese crypto exchange Coincheck and Thunder Bridge Capital have taken one step closer to the completion of their merger transaction and Nasdaq listing. According to a May 7 news release, the companies filed their registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC), marking a milestone in their two-year journey toward a planned public offering.  Over the past months, the companies filed multiple confid ..read more

The role of crypto market makers is poorly understood: do they simply ensure crypto trades go through… or do they manipulate crypto markets? Few ordinary crypto holders understand the role of market makers. At the simplest level, market makers provide liquidity to keep assets tradable in the cryptocurrency market, ensuring that if a user tries to buy or sell a coin on a particular exchange, theyre usually able to. However, unethical market makers also manipulate token prices, inflate volumes and conduct pump and dumps. Many cryptocurrency projects hire them to goose their performance metrics ..read more

Despite the criticism, TradFi institutions still prefer using public blockchains for real-world asset tokenization. Public blockchains are still not adequate for executing large amounts of transactions, according to JPMorgan. During the BIS Innovation Summit on May 7, Umar Farooq, the CEO of JPMorgan’s Onyx blockchain-based payment platform said: The CEO’s comments came in response to the Unified Ledger, a concept introduced by the Bank of International Settlements (BIS) last year, that aims to support central bank money flows, tokenized deposits, and digital assets on its network. Read more ..read more

The entertainment-focused Hyperchain aims to provide a robust infrastructure for gaming, AI and SocialFi-related protocols. Sophon, an entertainment-focused zkSync Hyperchain, has secured $60 million worth of Wrapped Ether (wETH) through its node sale. The funding will be used to launch Sophon, an artificial intelligence (AI) and gaming-focused ecosystem built as a modular rollup leveraging zero knowledge (ZK) technology, aiming to launch in the third quarter of 2024. The $60 million node sale is considered high for an emerging project. Part of the node sale’s success can be attributed to the ..read more