Author: James Wilson
Bitcoin price hovered near $63,000 on Aug. 1 as US ETF outflows, weakening momentum and regulatory uncertainty kept buyers on the sidelines. Summary Bitcoin price is testing the $63,150 Fibonacci support after retreating from July’s $66,900 high. US spot Bitcoin ETFs recorded $265 million in net outflows on July 31. 4-hour money flow fell to −0.22, indicating sustained selling pressure. Liquidation clusters near $62,000 and $65,000 could shape Bitcoin’s next move. Bitcoin price struggles to hold $63,000 According to data from crypto.news, Bitcoin (BTC) price traded at approximately $63,082 at the time of writing after briefly falling below $63,000 during…
Proof of work is a consensus mechanism that forces computers to spend measurable energy solving a mathematical puzzle before they can add a new block of transactions to a blockchain. It is the reason bitcoin has value as a settlement network and the reason that network consumes more electricity than some countries. Summary Proof of work requires miners to find a hash output below a target threshold by repeatedly guessing a nonce value, consuming real computational energy in the process. Bitcoin adjusts its mining difficulty every 2,016 blocks, roughly every two weeks, to maintain an average block time of 10…
A zero-knowledge proof lets one party prove to another that a statement is true without revealing any information beyond the truth of the statement itself. It is the cryptographic technique behind blockchain privacy, scalable rollups, and a growing number of identity verification systems. Summary Zero-knowledge proofs allow a prover to convince a verifier that a computation was performed correctly without revealing the underlying data, enabling both privacy and scalability on blockchains. The two main families of zero-knowledge proofs used in blockchain are zk-SNARKs, which require an initial trusted setup ceremony, and zk-STARKs, which do not require trusted setup but produce…
A testnet is a separate blockchain network that mirrors a production chain’s rules and functionality but uses tokens with no monetary value. It is where developers break things, test upgrades, and discover bugs before those bugs can cost anyone real money. Summary A testnet is a blockchain network that runs the same software as a mainnet but uses valueless tokens, allowing developers to test smart contracts, protocol upgrades, and applications without financial risk. Ethereum has run multiple testnets over its history, with Sepolia and Holesky serving as the primary public testing environments as of 2026 after the deprecation of Goerli.…
Strategy shares fell 4.56% to $93.28 on July 31 after the company reported an $8.22 billion quarterly loss and prioritized restoring its STRC preferred stock to its $100 par value. Summary Strategy stock closed at $93.28, approaching its lower Bollinger Band at $90.31. The company reported an $8.22 billion net loss after recording an $8.32 billion unrealized Bitcoin loss. Michael Saylor said Strategy would hold both cash and Bitcoin instead of directing all available capital toward BTC. Analysts at Benchmark and H.C. Wainwright maintained their buy ratings despite the sell-off. Strategy stock slides after $8.22B quarterly loss Strategy stock traded…
Cathie Wood’s ARK Invest bought 109,129 Circle shares after the stablecoin issuer secured a limited-purpose trust charter in New York. Summary ARK acquired about $6.83 million in Circle shares across three exchange-traded funds. Circle received a limited-purpose trust charter from the New York Department of Financial Services. CRCL closed 2.54% lower at $62.61 on July 31 despite the regulatory approval. Circle plans to gradually transfer USDC issuance to its New York trust entity. ARK Invest adds 109,129 Circle shares ARK purchased 77,103 Circle shares through its flagship ARK Innovation ETF, according to the firm’s daily trade disclosures. The ARK Next…
SpaceX stock remained under pressure near a record low as traders prepared for the company’s first post-IPO earnings report and the release of 911.5 million insider shares. Summary SpaceX shares fell 3.41% to $108 on July 31, their lowest close since the June IPO. SPCX lost about 36% in July, extending its decline from the July 1 price of $171. About 911.5 million insider shares are expected to become eligible for sale on Aug. 6. The one-hour chart places immediate support at $107.10, with resistance near $121.09. SpaceX stock extends its post-IPO decline SpaceX stock closed July 31 at $108,…
Bitget has upgraded its Bitcoin-backed BGBTC asset with daily BTC-denominated rewards, cross-chain transfers through Chainlink CCIP, and independent oversight from Gauntlet. Summary BGBTC holders will receive daily rewards denominated in Bitcoin following the upgrade. Chainlink CCIP will serve as BGBTC’s canonical cross-chain infrastructure. Gauntlet will independently oversee the asset’s underlying yield strategies. BGBTC remains backed by Bitcoin at a 1:1 ratio, according to Bitget. Bitget adds daily Bitcoin rewards to BGBTC Bitget said the upgraded BGBTC will distribute daily rewards denominated in BTC to token holders. The asset is designed to maintain a 1:1 peg with Bitcoin while allowing users…
A mainnet is the production version of a blockchain network where transactions carry real economic value and are permanently recorded. When a cryptocurrency project launches its mainnet, it moves from concept to reality, and every line of code becomes a financial commitment. Summary A mainnet is a fully operational blockchain network where tokens have real market value, transactions are irreversible, and the consensus mechanism secures actual economic activity. Mainnet launches are milestone events that typically follow months or years of testnet development, security audits, and community governance processes. Hard forks and protocol upgrades on a mainnet are high stakes operations…
Moneyflip CEO Marcos Arturo Kleiman Tronllan faces a federal murder-for-hire charge after allegedly paying undercover agents $40,000 to kidnap and kill a businessman over an unpaid debt. Summary Kleiman allegedly agreed to pay $40,000 to kidnap and murder a Mexican businessman. Prosecutors said the final payments included $5,000 in cash and about 25,000 USDT. Undercover agents previously had Kleiman convert approximately $750,000 into cryptocurrency. The federal charge carries up to 10 years in prison and a $250,000 fine. Moneyflip CEO arrested in Miami Homeland Security Investigations agents arrested Kleiman in Miami on July 30 in connection with a federal complaint…