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Welcome back to Chain Reaction. To get a roundup of TechCrunch’s biggest and most important crypto stories delivered to your inbox every Thursday at 12 p.m. PT, subscribe here. The NFT space isn’t doing too well right now. Although it seems like there’s a new project being launched every week, there’s less and less money being spent in the space. In July, NFT sales totaled $495.6 million, down 23% from $646.1 million in June, according to data from NFT aggregator CryptoSlam. This marks the fifth consecutive month of NFT sales falling since February, when the sector saw sales hit $1.2…

Widely followed crypto analyst and trader Inmortal says that one Dogecoin (DOGE) rival is in the early stages of a lengthy rally. The pseudonymous analyst tells his 232,000 followers on the social media platform X that Dogecoin competitor Floki (FLOKI) is just beginning its ascent. “+40%, no dips. We are just getting started.” Source: Inmortal/X Earlier this month, Inmortal predicted that “god candles” would be coming for FLOKI. At time of writing, FLOKI is trading at $0.000079 and is down 77% from its all-time high. Inmortal also has his eye on Solana (SOL). According to the trader, next month will…

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Daily price action in the SOL/BTC pair is beginning to paint a sharply different picture from the one that dominated the first quarter, according to a chart shared on Sunday by veteran trader Josh Olszewicz. The one-day chart sets…

Gold-backed cryptocurrencies have spiked in value amid the global trade war unleashed by US President Donald Trump’s April 2 tariffs.Tether Gold (XAUT) and Paxos Gold (PAXG) reached all-time highs on April 22, with Tether Gold touching $3,529 and Paxos Gold recording a peak of $3,520, according to data from CoinMarketCap. Two other gold-backed cryptocurrencies — Quorium (QGOLD) and Kinesis Gold (KAU) — have seen rises of 8.5% and 7.6%, respectively, in the past 30 days. All four tokens are up 40% or more in the past 12 months, CoinGecko data shows.Related: Tether clocks $13B in 2024 profits, US bond holdings…

Hi! This is Hsiao-Wei and Tomasz co-writing this blog post. We’ve now been in our new Co-Executive Director roles for almost a month. The honeymoon is over, it’s time to get moving. A Moment of Transition and Opportunity Ethereum has always been a journey: a constantly evolving ecosystem powered by people who believe in building a more open and decentralized world. While the Ethereum Foundation (EF) may be a decade old, it remains willing to reinvent itself. This year, EF embraced a new leadership model with dual Executive Directors. This design brings diverse and complementary perspectives, enhancing our ability to…

Tennis Australia is expanding its NFT ball art offering for this year’s Australian Open, saying it is in it for the long haul despite the uncertainty in the crypto market.The Open last year launched an “AO Artball” collection as the hype around all things crypto peaked, with 6,776 ball artworks sold as non-fungible tokens (NFTs) that are linked to 19cm x 19cm plots on the court at Melbourne Park.An additional 2,454 NFTs are on offer this year.Inside the strange world of NFTsNon-fungible tokens are a crypto asset that confers ownership of a digital item – in this case unique artwork…

Ripple won’t pursue an IPO, citing billions in cash and focus on strategic acquisitions XRP remains central to Ripple’s ecosystem, supporting cross-border payments and blockchain integration Ripple is putting growth over its public listing ambitions. Speaking to CNBC, President Monica Long confirmed the blockchain company has no immediate plans to go public, pointing to strong liquidity and a focus on acquisitions to drive expansion. Current financial standing Backed by a strong cash position, the San Francisco-based blockchain firm sees no urgent need to tap public markets. In her interview, Long stated, “At this moment, we have a lot of liquidity,…

A groundbreaking study from the Cambridge Centre for Alternative Finance (CCAF) claims that the United States now dominates Bitcoin mining, controlling as much as 75.4% of the global hashing power. “The U.S. has solidified its position as the largest global mining hub (75.4% of reported activity),” the CCAF reports, based on a survey of 49 mining firms representing nearly half the Bitcoin network’s hashrate.  This concentration, equating to roughly 600 exahashes per second (EH/s) of the global 796 EH/s, raises a pressing concern: Is Bitcoin mining becoming dangerously centralized in the U.S., and what risks does this pose for the…

Trump-backed World Liberty Financial appears to be offloading Ethereum following increasing losses as ETH plunges below $1,500. According to data shared on X by Lookonchain, on Apr. 9, a wallet linked to WLFI reportedly sold 5,471 Ethereum (ETH) for around $8 million, at a price of $1,465 per coin. The sale represents a major loss. WLFI had previously spent around $210 million to acquire 67,498 ETH at an average price of $3,259. At current prices, the firm is sitting on an unrealized loss of roughly $125 million. Despite the losses, the company has been actively expanding its product lineup. On…

Wallet interoperability still remains the vision for Web3 gaming, according to Arthur Madrid, the co-founder and CEO of the decentralized metaverse and gaming platform The Sandbox. In an exclusive interview with Cointelegraph at the Crypto Polo event in Dubai, Madrid and his fellow The Sandbox co-founder and chief operating officer, Sebastien Borget, told Cointelegraph that Web3 gaming interoperability remains the goal for The Sandbox. Madrid said: “So, the vision is still kind of obvious for us. It’s like you need to be able to play any games using one wallet that will enable you to combine the utilities of all that you…