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Magic Eden's $5 billion token airdrop has sparked concerns about cryptocurrency wallet security The unusual requirement for users to download a dedicated Magic Eden wallet to claim their airdrop raised red flags among industry experts, who cited potential security risks violating best practices. While early trading of the ME token saw a brief, inflated valuation of $15 billion, this quickly dropped to approximately $5 billion as more users claimed their airdrops, highlighting the volatility and potential security vulnerabilities associated with this unconventional distribution method.

MicroStrategy's latest Bitcoin acquisition—15,400 BTC for $1.5 billion—further cements its status as a major corporate Bitcoin holder, now owning close to 2% of all circulating Bitcoin. This significant purchase, financed through an at-the-market equity offering, comes as CEO Michael Saylor continues to advocate for Bitcoin adoption, even pitching the asset to Microsoft. The acquisition, concluded last week, boosts the value of MicroStrategy's Bitcoin holdings to approximately $38.2 billion at current market prices. This follows a trend of institutional Bitcoin purchases, underscoring persistent institutional interest in the cryptocurrency. The average cost basis for MicroStrategy's entire Bitcoin portfolio remains at $58,263 per coin.

The meteoric rise of XRP, nearing a 100% increase in the past week, is driven by unprecedented activity from large investors, often referred to as "whales." This intense whale activity, evidenced by monitoring substantial transactions between wallets and exchanges, signals a dramatic shift in market sentiment. The cryptocurrency's remarkable 430% surge over the last month has reached levels unseen since 2018, defying numerous analysts' forecasts. This rally, initiated in early November following the US Republican electoral win, is largely attributed to a resurgence of investor confidence in US-based crypto projects, including Ripple Labs, XRP's parent company. The abnormally high volume of large transactions strongly suggests significant involvement from key players in orchestrating this dramatic price appreciation.

VimaPay and Inwizo Partner at SIGMA Europe Summit Malta 2024 The VimaPay team recently returned from the SIGMA Europe Summit Malta 2024, a leading event bringing together top experts and innovators in the iGaming industry. The experience was invaluable, filled with inspiring presentations, productive networking opportunities, and exposure to cutting-edge industry technologies. At the summit, we actively engaged with potential partners, discussed new collaborations, and showcased the benefits of our payment system. SIGMA Europe Summit Malta 2024 provided an excellent platform for establishing new business contacts and expanding our network. Stay tuned for updates on our exciting new projects and partnerships! #VimaPay #SIGMASummit #Malta2024 #iGaming #Payments

Bitcoin Surges Past $81,000, Dogecoin Makes Big Gains Bitcoin (BTC) started the week strong, soaring past $81,000 on Monday. The surge follows a six-day rally that saw record-breaking trading volumes over the weekend. The broader CoinDesk 20 (CD20) index, which tracks the top 20 cryptocurrencies by market capitalization, rose 4.5% in the past 24 hours. Dogecoin and Shiba Inu, both meme-based cryptocurrencies, led the gains among major cryptocurrencies, adding 30% in the past 24 hours. The market's upward momentum could be attributed to Donald Trump's recent presidential win and the anticipation of a strategic Bitcoin reserve, which he promised during his July campaign. Bitcoin's weekend trading volumes were unusually high, reaching almost $100 billion. This is seen as a positive sign in the crypto market, as trading volumes typically decline over the weekend when many institutional investors and professional traders are less active. Futures premiums on Bitcoin-tracked products are increasing, indicating a bullish sentiment among traders. The popularity of the $80,000 call option on Deribit suggests that some dealers are hedging their positions around this key price level.

Bitcoin experienced a significant dip in the past 24 hours, shedding nearly 4% of its value and falling from $72,500 to just over $69,000. This decline coincided with a 5.5% drop in the overall cryptocurrency market capitalization.Adding fuel to the fire, the Fear and Greed Index, a widely-watched sentiment gauge, hit "extreme greed" levels on Thursday, a historical indicator of potential market corrections. This signals a shift in market sentiment, potentially away from bullish optimism.Furthermore, the fact that nearly 90% of futures positions were long, indicating an expectation of price increases, adds further weight to the notion of a potential market top, despite the recent bullish trend. This suggests that the market could be poised for a correction, even though many investors were optimistic about Bitcoin's future.

Ahead of the U.S. election, investors are making big bets on Bitcoin, pouring money into funds that track its price. This surge in investment comes as many believe a return of former President Donald Trump could be positive for the cryptocurrency market, though they also anticipate wild price swings during the election week.This week, Bitcoin saw a major inflow of funds. On Wednesday alone, $917.2 million flowed into Bitcoin-tracking exchange-traded funds (ETFs), marking the largest single-day increase since March, according to Block, a data and news provider.This suggests that investors are making big moves in preparation for the election results, hoping to capitalize on potential market shifts. While some see a Trump win as beneficial for Bitcoin, the election week itself is expected to be volatile, creating a risk-reward scenario for investors.

Bitcoin Could Reach $125,000 by Year-End if Trump Wins, $75,000 if Harris Does: Standard Chartered Standard Chartered predicts Bitcoin will soar to new record highs by the end of the year, regardless of the outcome of the US presidential election.The bank forecasts Bitcoin could reach $125,000 if Donald Trump secures another term, or $75,000 if Kamala Harris emerges victorious. The report highlights that favorable regulatory changes, regardless of the winning candidate, will fuel Bitcoin's growth.

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Fed Rate Cut Uncertainty Grips Markets, Bitcoin Stalls  "Rarely has the market gone into the Fed meeting with maximum uncertainty (halfway between 25bps and 50bps)," noted Marc Chandler, chief market strategist at Bannockburn Global Forex.The Federal Reserve faces a split decision on Wednesday as markets price in a 50% probability for both a 25 basis point (bps) and a 50 bps rate cut. This uncertainty has fueled volatility in financial markets, with Bitcoin particularly feeling the heat.Bitcoin has pulled back from above $60,000 amid the rate cut uncertainty, stalling its recent upward momentum from lows of $52,530. At press time, Bitcoin was trading around $58,700.Traders are divided on the size of the impending rate cut, with the Fed funds futures showing a 50% chance for both a 25 bps cut to the 5%-5.25% range and a 50 bps cut to the 4.7%-5% range. This division sets the stage for potential volatility in financial markets following Wednesday's decision.