Crypto Weekly Roundup: WazirX Hacked, Germany Running Out Of BTC, & More

Last week, Germany completely emptied its Bitcoin reserves by sending off its final tranche. With this particular overhang on Bitcoin done, its price is continuing to recover, gaining 9.8% since the local bottom nine days ago. Let’s find out more. 

Bitcoin 

The German government has now sold all of its Bitcoin holdings – going from nearly 50,000 BTC to zero in a very short amount of time. Bitcoin has absorbed the impact and is continuing its recovery. The $BTC price is now at $58,700.

BlackRock CEO Larry Fink, once a Bitcoin skeptic, now champions the cryptocurrency as “digital gold” and a legitimate financial instrument, reflecting a broader acceptance within traditional finance.

Technology 

Agile Coretime facilitates the efficient utilization of network resources on Polkadot, providing greater economic flexibility for builders and generalizing Polkadot far beyond what was proposed in its whitepaper.

Polygon Labs, Google Cloud, and Accenture have released a white paper detailing how Web3 technology can transform traditional loyalty programs into more secure, personalized, and experience-driven models.

BlockFi will begin distributing crypto assets to eligible customers via Coinbase starting in July 2024, with distributions processed in batches and notifications sent to registered email addresses.

NFT

Former President Donald Trump has discussed plans for a fourth NFT collection, emphasizing the need for U.S. leadership in cryptocurrency and highlighting growing support from the crypto community for his reelection campaign.

Web3

Zivoe, a leading real-world asset (RWA) credit protocol, is set to make huge strides in the RWA financial sector with the introduction of its mainnet launch. Scheduled for July 31, the launch represents a key milestone for Zivoe as it enables the democratization of credit access through blockchain technology.

Lumia, a zkEVM L2 network, is now selling HyperNodes as part of its mission to increase on-chain liquidity. The decentralized HyperNode network eliminates data loss and manipulation risk and will provide unparalleled scalability and security for transactions.

Bitcoin scalability and interoperability solutions platform exSat announces the addition of BitTrade as a data validator node. The strategic partnership will see BitTrade stake over 100 BTC to help strengthen the network’s security and scalability.

Blockchain venture capital firms Hashed and B Dash Ventures announced the lineup of sponsors and key partners for the 2024 Tokyo Blockchain Leaders Summit — an event that those firms jointly organize.

Qubic, an artificial intelligence (AI) cryptocurrency, was listed on the MEXC centralized cryptocurrency exchange just as its development team announced an updated roadmap for this year.

Layer 1 blockchain Chromia has launched its long-awaited MVP mainnet, becoming the first relational blockchain to go live.

Security

India’s largest crypto exchange, WazirX, has been hacked for $235 million, leading to suspended withdrawals and significant market value drops for all involved cryptocurrencies.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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