Cryptonews

As the ink dried on this new chapter of cryptocurrency folklore, the market cap did a little dip, settling at around $5.04 billion – a mere trifling sum! The Initial Coin Offering (ICO) had more excitement than a squirrel at a nut festival, lasting just 12 minutes on July 12, where eager investors practically trampled each other to secure a piece of the action, raising $500 million by hawking 125 billion tokens. Talk about a valuation that would make even the most hardened marketeers raise an eyebrow! 🧐

This latest funding propels Function—formerly known as Ignition—into the limelight as it endeavors to unshackle institutional yield opportunities from the clutches of bitcoin, that oh-so-glamorous yet tragically underutilized digital darling in the world of decentralized finance (DeFi). 🧐

This juicy news comes from Theminermag, a trade publication for the cryptocurrency mining industry that keeps you up-to-date on the latest news and research on institutional bitcoin mining companies. You know, the ones who make all the big moves and shake up the market.

As the shadows of on-chain signals and volume patterns encircle us like ominous figures from a Dostoevsky novel, the possibility of a fleeting price weakness dances before our eyes, mocking our hopes unless those sacred key levels yield! 🧐

The bitcoin

According to crypto.news, ALGO hit a 5-month high of $0.289 on July 14. As of press time, it’s trading slightly lower at $0.27, but still up a whopping 80% from its year-to-date low in April. Talk about a comeback kid! 🏆

Our beloved Dogecoin (DOGE), clad in the finery of fresh support at the venerable $0.19, now dances just shy of the exalted $0.20. After a flirtation with a 14% gain, it inexplicably decided to take a little tumble, down about 8% in the last 24 hours. One could almost call it a melodramatic soap opera, wouldn’t you agree?

And lo, the ProShares Ultra XRP ETF now enters the stage, claiming to deliver a “2x daily XRP return.” Ah, the sweet sounds of leveraged assets—so tempting, so volatile! In its prospectus, ProShares takes a moment to share the excitement of potentially explosive returns, but—surprise, surprise—warns about the risks of following the exchange’s guidelines. It’s as if they’re handing you a loaded gun and reminding you to be careful not to shoot yourself in the foot.

Announced on the 14th of July, the model is rolling out in collaboration with Four.Meme, a meme-centric ecosystem valued at an impressive $360 million. So, what does this mean for us, the ever-curious masses? Well, now, users can purchase tokens using the mighty BNB (because who doesn’t love BNB?) during a token generation event. And as demand heats up, so too does the price—bubbling upwards along a curve that’s both thrilling and mathematically elegant. The price will rise. The price will fall. Just like life itself, really.

TRM Labs, those clever sleuths, reported that the platform’s web infrastructure, including its clearnet mirror, became unreachable in early July 📆. No seizure notice has been posted, which is a bit odd, don’t you think? 🤔 Although it’s possible that law enforcement shut down the site in a covert operation, most signs point to the operators making off with user funds, like a thief in the night 🕷️.