Bitcoin Wobbles: Brief Rally Fizzles as Price Dips

Bitcoin Wobbles: Brief Rally Fizzles as Price Dips

Bitcoin's price action took a wild ride yesterday! According to market data, volatility returned during Wall Street trading hours.

The price initially surged to local highs of $67,250, sparking some optimism. However, this enthusiasm was short-lived as sellers stepped in, pushing Bitcoin down to $64,050 within hours. This marked Bitcoin's lowest point since mid-May, leaving many market observers scratching their heads.

Popular trader Skew offered some insight, suggesting that the initial bounce was primarily driven by buying on Coinbase and Bitfinex. However, without further positive catalysts, the rally fizzled out.

Where does Bitcoin go from here? The recent price action underscores the ever-present volatility in the cryptocurrency market. Stay tuned for further updates as the situation unfolds.

Crypto Scams Target Trump Supporters After Endorsement

Following Donald Trump's endorsement of cryptocurrency and his campaign's announcement to accept crypto donations, scams have surged, targeting his loyal supporters. Fraudsters have created fake crypto websites and misleading donation centers to deceive donors.

Netcraft, a London-based cybersecurity firm, has monitored these scams, noting a spike in fraudulent schemes posing as the Trump campaign. Scammers use slightly misspelled web domains, such as “donalbjtrump[.]com” and “doonaldjtrump[.]com,” to trick supporters into donating. These sites feature fake crypto donation centers, diverting funds from well-meaning donors.

After Trump's guilty verdict, scammers quickly adapted their tactics, exploiting the urgency felt by his supporters. With the Trump campaign raising over $50M in 24 hours, significant amounts may have been diverted to these scams. Fraudsters replicate legitimate crypto payment systems and even impersonate other platforms like Coingate and Plisio. Traditional payment methods are also targeted, redirecting users to the official campaign site only for non-crypto payments.

Netcraft's interaction with a scammer revealed detailed threat intelligence, including bank accounts and payment app information used for money laundering. Supporters should verify donation sites' legitimacy to avoid falling victim to these schemes.

Ronin Announces zkEVM: Scaling Up the Gaming Blockchain

Gaming blockchain Ronin unveiled its latest innovation today - Ronin zkEVM. This new layer-2 solution leverages cutting-edge technology to massively increase network capacity. With millions of daily users, Ronin is dedicated to supporting the growth of its gaming partners and fostering a thriving ecosystem.

Built using a customized Polygon toolkit, Ronin zkEVM empowers game studios to develop innovative experiences and reach wider audiences. This aligns with Sky Mavis' vision, as stated by CEO Trung Nguyen: to create a unified gaming environment where players can seamlessly trade assets and tokens across different games.

Get ready for a new era of scalable gaming with Ronin zkEVM!

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