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Cardano (ADA) has finally broken out of its long-term downtrend, climbing to a five-month high and capturing the attention of crypto investors. After months of consolidation within a descending parallel channel, the bulls appear to be in control. While many traders focus on Cardano price, analysts suggest that a smaller altcoin, Remittix, might offer a faster path to substantial gains, with its utility-driven platform and real-world applications catching the eye of whales. With a first CEX listing reveal approaching at $20M, early investors are positioning themselves for a potential surge. Cardano Price Breaks Out After Long-Term Downtrend Since reaching the price of $1.32 in December 2024, the Cardano price has been locked in a declining parallel channel. The structure was confirmed by multiple bounces at the $0.60 support, thus forming a triple bottom. Analysts project that Cardano price could climb toward $1.84 to $2.06, marking the start of a more parabolic phase. Despite the breakout, the price of Cardano can experience resistance at some psychological levels, and corrections can be expected. Momentum indicators, transaction volume, and watchlists on active addresses are the factors traders should monitor to measure sustainability. Nonetheless, the breakout indicates a high possibility of a persistent rise, making ADA a top watch in the mid-cap altcoin space. Shifting Focus: Why Remittix Is Gaining Investor Attention While Cardano price trends upward, Remittix (RTX) is quietly building momentum. Currently priced at $0.0944, Remittix has raised over $19.8 million and sold more than 604 million tokens. Its real-world use cases in cross-border payments, DeFi, and crypto-to-fiat transfers are attracting investors who prioritize utility over hype. With whales and retail investors alike showing growing interest, Remittix is positioned as one of the breakout altcoins to watch in 2025. Key Highlights Driving Remittix Growth Q3 Wallet Launch enabling low-fee cross-border payments. The 40% Token Bonus for early adopters is still available. Upcoming First CEX Listing at $20M raised. Real Utility supports 40+ cryptocurrencies and 30+ fiat currencies. Strong Community Support with rapid adoption momentum. Analysts Eye $3 Potential While Cardano Consolidates Experts suggest that while Cardano price could reach $2+ over the coming months, Remittix may hit a higher relative gain first due to its smaller market capitalization and active development. The upcoming wallet launch, real-use adoption, and first CEX listing reveal create multiple catalysts that could drive the token’s value significantly higher. Investors seeking exposure to crypto projects with real-world functionality are increasingly looking at Remittix, particularly as the Cardano price faces potential resistance and slower momentum. The combination of early access benefits, a strong roadmap, and growing user adoption makes RTX a standout choice for smart money in 2025. Discover the future of PayFi with Remittix by checking out their project here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix $250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content. Read More

Solana’s rally toward $300 has hit a pause, with the long-anticipated ETF decision pushed back until October. While Solana Price remains under pressure, traders are scanning the market for new opportunities. Many are shifting to Remittix, a rising PayFi project redefining cross-border payments with speed and low fees. As momentum cools for SOL, investors are betting that RTX could be the next breakout token. Solana Price Today Holds Firm As Fundamentals Strengthen The crypto market is still watching Solana closely, but the wait for approval on a spot ETF drags on. The SEC is expected to make its ruling in October, putting the brakes on short-term hopes for a major rally. For now, the SOL Price Prediction of $300 looks paused, even as infrastructure growth remains strong. Recent Solana News highlighted that core metrics outpaced expectations. Total value locked jumped 30% to $8.6 billion, staking climbed 25% to $60 billion, and liquid staking penetration reached 12.2%. Despite lower memecoin trading, fundamentals show stability. Average daily DEX volumes fell 45% to $2.5 billion, yet validator decentralization improved, and the Nakamoto coefficient now sits at 21. Upgrades like Anza’s Alpenglow protocol could cut finality times to under 150 milliseconds, bolstering long-term confidence in Solana Price Prediction models. Institutional adoption also holds promise. With the Solana Staking ETF already live and more spot ETF filings pending, optimism for Solana Price growth persists. Still, traders checking the SOL Price today recognize that volatility and delays may keep near-term gains capped. Meanwhile, some investors are hedging bets with Remittix, a payments-driven token climbing toward its first CEX listing. While SOL Price consolidates, RTX’s real-world utility narrative is pulling attention as a potential breakout play. Remittix Delivers Fast Payments As Solana Price Today Slides While Solana Price action faces turbulence, some traders are shifting their focus to Remittix. Unlike speculative projects that rely on hype, Remittix is building tangible infrastructure for cross-border payments. At $0.0944, the token has already raised over $19.8 million with over 604 million RTX sold, proving strong investor conviction even as other networks face setbacks. What makes this different is real-world impact. Imagine a freelancer in Nigeria receiving stablecoins from a U.S. client. With Remittix, they can convert crypto to naira and receive funds in their bank within minutes. No slow wires. No inflated fees. This is crypto solving problems today, not in theory. The Remittix Wallet beta launches September 15, opening testing to select community members. The project is closing in on its $20M milestone, which will trigger the first CEX listing reveal. Each transaction avoids forex fees and lands in fiat accounts quickly, bridging crypto and traditional banking. Merchants can use their Pay API to accept crypto but settle instantly in local currency, removing volatility risk. Momentum is undeniable. With stability built into its ecosystem and a $250,000 Remittix Giveaway attracting global attention, RTX could be the standout as traders reassess their positions. Discover the future of PayFi with Remittix by checking out their project here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix $250K Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content. Read More

With blue-chip crypto assets struggling to maintain momentum, investors are increasingly turning to the best crypto under $1 opportunities with real-world utility, rapid adoption potential, and explosive upside. Among them, Tron (TRX), Hedera (HBAR), and Remittix (RTX) stand out as projects trading at pennies today that could hit dollars tomorrow. As Bitcoin dominance slips, institutional money is rotating into undervalued crypto projects with strong fundamentals, creating a sweet spot for early-stage crypto investment. Tron Holds Steady Near Resistance Tron (TRX) trades at $0.3581, climbing 2.16% on the day as it pushes toward $0.409 resistance. With support established above $0.305, TRX shows accumulation patterns that signal quiet confidence among bigger players. Long-term projections place Tron at $2.00 by 2026, a 460% leap from current levels, achievable if adoption in gaming, entertainment, and decentralized content continues at pace. Its lightning-fast transactions and expanding developer base keep Tron positioned as a fast-growing crypto infrastructure play. Hedera Eyes Recovery Despite Volatility Hedera (HBAR) trades around $0.2446 after recent pullbacks, but technical setups point toward a rebound to $0.32 in the coming months. Enterprise adoption remains its strongest card, with governing council members and Hashgraph technology separating it from traditional blockchain peers. Forecasts through 2026 put HBAR between $0.41-$0.93, making today’s sub-$0.25 entry appealing for investors willing to hold through volatility. Hedera remains a high-growth crypto candidate for those betting on enterprise-driven adoption. Remittix: The PayFi Revolution You Can’t Afford to Miss Here’s where things get urgent: Remittix (RTX) is not just another under-$1 altcoin; it’s a PayFi powerhouse priced at $0.0944 and on the brink of a breakout. With $19.8M already raised and 604M+ tokens sold, the project is only days away from crossing the $20M milestone. When that happens, tier-one CEX listings go live, and history shows presale buyers see the steepest gains. Remittix solves a $19 trillion payments problem with real utility: Instant bank transfers across 30+ countries Transparent FX conversion in 30+ fiat currencies Low-fee, multichain architecture (Ethereum + Solana, with more to come) Deflationary tokenomics designed for long-term holder upside Beta wallet launching Sept 15, 2025, with real crypto-to-fiat capability This isn’t theory; milestones are confirmed, partnerships in place, and a full CertiK audit completed. Investors aren’t buying hype; they’re buying a working payment solution already positioned for mass adoption. $250,000 Giveaway + Presale Deadline = No Excuses To prove conviction, the team launched a $250,000 community giveaway, perfectly timed with the presale’s final stretch. But here’s the catch: once $20M is hit, the 40% presale bonus disappears forever. From then on, tokens hit exchanges at market-driven prices. Miss this moment, and you’ll be buying Remittix at a premium from those who got in now. Tron and Hedera look strong, but Remittix is in hyper-growth mode. Early investors here are not just speculating they’re positioning ahead of one of 2025’s biggest catalysts. The choice is simple: act now and lock in RTX under $0.10 with a 40% bonus or watch from the sidelines as others ride the PayFi wave to life-changing returns. Discover the future of PayFi with Remittix by checking out their project here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix $250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content. Read More

Journalist Key Takeaways OKB soared 38%, bouncing off its recent bottom of $88 to a high of $131 before slightly retracing to $127. Demand for Futures surged to a 10-month high, but profit takers threatened the uptrend. OKB [OKB] rallied 38%, bouncing off its recent low of $88, and broke out to a local high of $131.5 before retracing to $127 at press time.  Over this period, the altcoin’s volume rose 284% to $523 million, while its market cap bounced back, reclaiming $2 billion to $2.7 billion at press time.  Such a spike in volume and market cap reflects steady capital inflow and growing on-chain activity. But what’s driving this uptick? Demand for Futures skyrockets  Upon examining the derivatives market, interestingly, it seems that most of the recently deployed capital flowed into Futures.  According to CoinGlass, OKB’s Open Interest surged 120.7% to a 10-month high of $4.79 million. At the same time, Derivatives Volume jumped 318% to $27 million, reflecting increased participation and capital influx in Futures.  Source: CoinGlass Meanwhile, the altcoin’s Long/Short Ratio jumped to 1.075, reflecting increased demand for long positions. This often indicates that most participants rushed into the market to bet on rising prices.  OKB: Profit takers may spoil the party Notably, as prices rebounded from the recent correction, holders and investors jumped into the market and cashed out.  Source: CoinGlass According to CoinGlass, the altcoin’s Spot Netflow jumped into the positive zone. As of this writing, the Netflow was $13.47 million, a slight rise from $8.1 million the previous day.  Typically, when Netflow spikes, it suggests that exchanges are recording higher inflows compared to outflows.  As a result, OKB’s supply outside of exchanges plummeted significantly, reaching a 3-month low of 245 million. Such a decline implies that the asset is facing strong selling pressure, often a prelude to lower prices.  Source: Santiment Momentum indicators are still bullish  According to AMBCrypto, OKB has rallied amid strong demand, especially for Futures positions, over the past day.  For that reason, the altcoin’s Relative Strength Index surged to 86, reaching the overbought zone. At the same time, its positive index of Directional Movement Index (DMI) surged to 69, reflecting strong upward momentum.  Source: TradingView Often, when these indicators are in such a manner, it signals strong upward momentum largely driven by buyers but warns of volatility.  Therefore, if buyers’ momentum holds, OKB’s uptrend will continue, reclaiming $148 resistance and targeting a new high. Conversely, if profit takers overpower the market, another correction will follow with a dip to $92.7. Read More

Key Takeaways Mantle’s surge blends Bybit staking integration, whale-led accumulation, exchange outflows, and rising Open Interest. Heightened leverage could quickly intensify volatility. The market has turned its attention to Mantle [MNT] as it experienced a sharp upward momentum, supported by both rising derivatives activity and whale-driven accumulation.  At press time, Mantle traded at $1.36, marking a 15% daily surge that has attracted significant investor attention.  This move follows a week of steadily increasing speculation in the derivatives market alongside improving on-chain trends.  However, while short-term price action appears favorable, the question remains whether Mantle can extend its gains sustainably, especially as broader market volatility continues to test altcoin strength. What’s fueling Mantle’s price surge? A primary factor behind Mantle’s rally is its recent Bybit partnership, which includes staking integration that unlocks new yield opportunities for token holders.  This collaboration has enhanced accessibility for investors, driving institutional inflows and strengthening Mantle’s positioning within the broader market.  Additionally, network growth supported by increased stablecoin circulation has further fueled demand for MNT.  Therefore, the token’s price surge appears to stem not only from technical trading activity but also from fundamental ecosystem expansion.  Such developments have combined to deliver strong momentum, bringing Mantle to the forefront of trader focus. How significant is the Open Interest jump? Open Interest has climbed sharply by 43%, now standing at $112 million, reflecting a surge in speculative appetite.  This rise demonstrates that more traders are positioning aggressively on Mantle’s next price move, often a precursor to heightened volatility.  Typically, such a sharp increase in Open Interest signals renewed leverage activity, magnifying both upside and downside risks.  However, with Mantle’s price rallying alongside this spike, the momentum appears to favor bullish bets.  Therefore, the derivatives market reinforces confidence that traders expect continued upward pressure in the short term. Are whales driving the rally through big orders? On-chain metrics show a clear rise in whale-driven trades, as average spot order size has expanded significantly.  This suggests that larger investors are accumulating MNT, complementing the bullish narrative emerging from derivatives markets.  Whale accumulation often provides both liquidity and confidence to retail participants, strengthening the trend’s sustainability. However, while this signals stronger conviction among large holders, it can also trigger sharp profit-taking events.  Therefore, whale participation remains a double-edged factor, yet in Mantle’s case, it is leaning toward reinforcing the ongoing bullish trajectory. Do netflows confirm strong accumulation? Exchange netflow data reinforces the bullish picture, showing $9.78 million in outflows within the past day.  Consistent outflows of this magnitude suggest tokens are moving away from exchanges toward storage or staking, often reducing sell-side pressure.  This aligns with Mantle’s price climb, as reduced liquidity on exchanges can amplify upward moves when demand strengthens.  If this pattern continues, the price could remain supported by reduced immediate selling pressure and consistent whale demand. Can Mantle sustain this momentum? Mantle’s recent rally has been driven by a strong combination of exchange outflows, whale accumulation, and speculative positioning reinforced by Open Interest growth. Furthermore, its Bybit partnership and staking integration provide fundamental support beyond short-term trading catalysts.  However, sustainability depends on whether buying pressure persists in the face of increased leverage risks and potential profit-taking by whales.  For now, Mantle holds a strong bullish structure, suggesting its rally could extend further, though volatility will remain a defining factor in the coming sessions. Read More

Journalist Key Takeaways The amount of stablecoin supply has been growing recently. The surge comes from multiple blockchains, particularly Ethereum. Is this the missing puzzle for an altcoin season? The passing of two bills by the U.S. Congress to streamline regulations around stablecoins looks to be finally meeting its purpose. The GENIUS and STABLE Acts are now ensuring transparency and consumer protection. That aside, stablecoins supply is now in an upward trend. Market participants view the move as a precedence to an altcoin season. Here are the full details. Stablecoins volume hits an ATH The total stablecoins on the Ethereum [ETH] network hit an ATH of about $130 billion. This trend has been rising since the low established in August 2023. This was in support of ETH’s dominance in stablecoin issuance. Moreso, it was an indication of how public listed companies were building on ETH network. When stablecoins inflows surge, it indicates profit-taking activities or preparation to inject liquidity into non-stable crypto assets. Source: Coinvo In this case, the surge was influenced by both. What’s behind this liquidity? The surge in stablecoin liquidity was driven by the spike in supply across multiple blockchains. This supply is projected to constitute about 10% of M2 by 2030, which is about $3 Trillion. A very bullish case for all cryptos. The supply of PayPal’s PYUSD was approaching the $1 billion mark on Ethereum. On Solana [SOL], it stood at $250 million, as per Token Terminal data. Source: Token Terminal Still, the supply of the highest-capped stablecoin, USDT, was back to growth mode. This was majorly due to the capital rotation from Bitcoin [BTC]. Most of these USDT were flowing from exchanges through the TRON [TRX] network. Also, USDC monthly transfer volume on the Aptos [APT] blockchain was at record highs of $8.60 billion. The transfer count followed with a peak value of 23.2 million. With the U.S. aiming to be a hub for crypto and AI revolution, the country held a huge chunk of stablecoins. As of press time, they held $347 million in stablecoins. The U.S. is building a crypto reserve, mainly Bitcoin and Ethereum. This vast amount of stablecoins liquidity could be used to actualize their crypto reserve. Is liquidity the missing piece for an altcoin season? The question now was, could stablecoins flows unlock the next altcoin season? From these activities, the altcoin rally could be waiting for the stablecoins power. Analytically, stablecoin dominance (roughly at 4.22%) had formed an exhaustion pattern. A break below the neckline of the heads and shoulder, could ignite a full altcoin season. Source: TradingView But why is this break important? This because altcoins are inversely correlated to the paired stablecoins. More importantly, BTC dominance has to continue dropping to facilitate a full rotation. The value has dropped from 62.5o% to 59.56 in only two weeks per Niels on X (formerly Twitter). Read More

Key Takeaways OKB [OKB], Mantle [MNT], and Aerodrome Finance [AERO] led the week with sharp price surges. In contrast, SPX6900 [SPX], Pudgy Penguins [PENGU], and Conflux [CFX] saw significant declines. This week in crypto was a rollercoaster.  Bitcoin [BTC] shot past $123k on rate-cut hopes, but inflation jitters quickly dragged it back to around $117k, pulling altcoins down with it. On the bright side, Bullish exchange’s IPO turned heads, raising $1.1 billion. Meanwhile, Ripple [XRP] stayed in the spotlight, climbing close to its old highs on ETF optimism. Still, the real action was in mid-caps, while memecoins lost steam as speculative money rotated elsewhere. OKB [OKB] — Exchange token posted a triple-digit breakout OKB [OKB] stole the spotlight this week, jumping 160%+ from a $46.57 open. It started the week stuck in its $40-$50 range, but on the 13th of August, a 125% one-day spike shot it to a new all-time high of $142. The move followed a 65.2 million token burn, creating a tight supply squeeze. RSI hit overbought, triggering a 10%+ pullback over the next couple of days, pushing it down to $122 at press time. So is OKB topping? Psychologically, FOMO is back, aligning with a risk-on market, putting this mid-cap in the spotlight as altcoin season hype builds across the market. Source: TradingView (OKB/USDT) Supporting this, OKB is seeing a 192% volume jump with 7%+ intraday moves, signaling growing accumulation and a potential bullish continuation at least for the week. If momentum holds, OKB could test the $130 supply wall soon, and a new all-time high may be on the cards in the near term. Mantle [MNT] — Finance blockchain rallied past key resistance Mantle [MNT] emerged as the second-biggest weekly winner, climbing 30%+ from a $1.04 open.  In fact, this week the mid-cap broke through the $1 supply wall that hadn’t been tested since Q1. The move clearly reinforced a strong bid support, keeping bulls in control. However, the battle isn’t over. Technically, MNT is eyeing a key supply wall at $1.40. On the bright side though, the week started with clear bull intent, and any mid-week bear pressure around $1.20 was quickly absorbed.  Even the recent 2% intraday pullback looks like a short-squeeze setup, keeping MNT in a bullish structure for the week, with a potential push toward $1.40 next. Aerodrome Finance [AERO] — Next-gen blockchain slid under bearish pressure Aerodrome Finance [AERO] took the third spot with a 22% rally from a $1.18 open, testing the $1 wall for the first time since Q1, similar to MNT. The week started with a 6% dip, as bears tried to take control. However, an 11% rebound the next day swept out late-arriving shorts, pushing AERO to $1.30 supply wall. Another bear attempt was absorbed, reinforcing an accumulation phase and pushing AERO past $1.40, meaning bulls cleared back-to-back resistance this week. If this momentum holds, AERO could target $1.50, with eyes on $2 for the quarter. A clear break there would cement bullish pressure. However, a breakdown is possible if it falters. Other notable winners Outside the majors, altcoin rockets stole the spotlight this week. Codatta [XNY] led the charge with a staggering 385% surge, followed by Imagen Network [IMAGE], which jumped 309%, and Wiki Cat [WKC], rallying 270% to round out the leaderboard. Weekly losers SPX6900 [SPX] — Market index token broke below key support SPX6900 [SPX] led the losers, sliding 20% from a $1.94 open and failing to hold $1.90 and $1.70 support. The week kicked off with a 9.5% vertical dip, but since it came after last week’s 20%+ rally to $2, it wasn’t broad market risk-off. Instead, just bulls missing key support. In other words, did-side support couldn’t defend the $2 ceiling, confirming it as a resistance zone, and bears swept up long liquidity clusters, pushing SPX down to $1.50 at press time. Source: TradingView (SPX/USDT) Price action now matters: An intraday 6.55% bounce suggests bulls may be circling back. But for a real breakout, this trend needs to hold over the next few days to flip resistance into support. If that happens, SPX could turn from the biggest loser to winner next week, marking a volatile inflection point that will determine whether it heads north or south. Pudgy Penguins [PENGU] — NFT project confirmed bullish support Pudgy Penguins [PENGU] came in second-worst this week, dropping 17% from its $0.04 open, with that level acting as a key resistance. The week started with a 9.65% dip, showing bulls didn’t defend the top and letting distribution take over. The first support test failed, triggering an 11% drop on the 14th of August. At press time, PENGU is trying to hold $0.03 for a rebound.  However, a modest 2% lift in 48 hours shows weak buying. With no memecoin-style FOMO and ongoing market risk-off, a deeper breakdown looks more likely than a strong bounce. Conflux [CFX] — Layer-1 blockchain showed a bearish structure Conflux [CFX] fell 14% from its $0.20 open, extending last week’s 3.97% loss and cementing its spot as the third-worst performer this week.  In fact, the dip reinforced a bearish structure, as the altcoin failed to hold key support, though it has been consolidating around $0.17 for the past three days, showing some attempt at stabilization. Demand is slowly emerging, but orderbook depth remains thin, meaning accumulation isn’t strong enough to offset selling pressure. This vulnerability triggered a 10%+ slide on the 14th of August. If this trend continues, CFX risks losing the $0.17 support, which could pave the way for a deeper correction toward $0.15 next week, making it a level to watch closely for traders. Other notable losers In the broader market, downside volatility hit hard. SOON [SOON] led the losers with a 43% drop, followed by Yala [YALA], down 41%, and Rei [REI], which slipped 40% as momentum sharply cooled. Conclusion This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart. Read More

Journalist Key takeaways Japan, once a crypto pioneer, now lags behind. Meanwhile, countries like Norway and Kazakhstan are embracing institutional crypto exposure. Japan helped usher in the crypto era, but it’s quickly falling behind. Despite its early start, the country now holds just 1-2% of global Bitcoin [BTC] reserves, with daily trading volumes under 1,000 BTC. Meanwhile, heavyweight institutions elsewhere are charging ahead. Norway’s boosted its Bitcoin exposure by 83% in Q2 alone, now holding over 11,600 BTC. There’s a widening institutional gap, one that Japan may struggle to close under its current rules. Japan is on the sidelines Japan may have led early crypto adoption, but its footprint in today’s Bitcoin economy is surprisingly small. Local exchanges hold just 1-2% of global Bitcoin reserves, and daily spot trading volume hovers under 1,000 BTC; dwarfed by giants like Binance and Coinbase. Source: CryptoQuant The reasons are structural: Japan’s market is shaped by some of the world’s tightest regulations, a retail-first user base, and a preference for derivatives over spot trading. As a result, Japan plays a limited role in global price discovery. While its framework prioritizes investor safety, the country’s Bitcoin influence remains narrow. Norway’s BTC exposure increases While Japan sticks to caution, Norway is ramping up its crypto bets… indirectly. The world’s largest sovereign wealth fund, worth $1.7 trillion, has increased its Bitcoin exposure by 192% over the past year. Though the fund doesn’t hold BTC outright, it owns equity in crypto-forward firms like Coinbase, Metaplanet, and Strategy, giving it exposure to over 7,100 BTC. Source: X Its investment in Strategy alone surged 133% year-over-year, while its Coinbase stake nearly doubled. A global shift In July, Kazakhstan’s sovereign wealth fund revealed plans to convert a portion of its assets into crypto. According to National Bank chief Timur Suleimenov, the move is supposed to boost long-term returns and reduce reliance on traditional reserves like gold and foreign currency. As more state-backed funds begin exploring digital assets, crypto is no longer fringe. Read More

A crypto influencer has been sentenced to just over a year in prison for what US prosecutors called a large-scale cryptojacking operation that defrauded two major cloud computing providers. The Department of Justice (DOJ) said on Friday that a Brooklyn federal court sentenced Charles O. Parks III, who also went by “CP3O,” to one year and one day in prison for the scheme that defrauded the computing providers of more than $3.5 million in resources. Parks used fake corporate identities such as “MultiMillionaire LLC” and “CP3O LLC” to trick two unnamed cloud providers into granting him elevated computing privileges, which he exploited to mine nearly $1 million worth of Ether (ETH), Litecoin (LTC), and Monero (XMR) between January and August 2021, prosecutors said. Cryptojacking is when resources such as computing power or electricity are used without permission to mine crypto. Parks pleaded guilty to wire fraud in December after also facing charges of money laundering and unlawful transactions that carried a potential 50-year maximum prison sentence. “Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency — and today’s sentencing holds him fully accountable for his deceitful actions,” said New York City Police Department commissioner Jessica S. Tisch. Parks lied to misuse computing resources: DOJ According to the DOJ, Parks told one provider he would use the computing resources to build an online training firm focused on media, tech and business strategy. He told the company that he aimed to serve 10,000 students — but prosecutors said “in reality, there was no training company, and there were no students,” and the resources were used to mine crypto. Parks deflected when the providers started inquiring about “questionable data usage and mounting unpaid subscription balances,” the DOJ added. Crypto laundered to buy luxury items According to prosecutors, Parks laundered the crypto mined through the providers through crypto exchanges, a non-fungible token (NFT) marketplace, online payment processors and banks, converting them into cash to fund luxury purchases, including a Mercedes-Benz, jewelry, and first-class travel.  An indictment from April 2024 said Parkes created multiple accounts with a subsidiary of “cloud computing and consumer electronic device headquartered in Seattle, Washington,” and a firm that makes “personal computers and related services headquartered in Redmond, Washington.” He was ordered to forfeit $500,000 and the Mercedes-Benz, with a court to decide restitution at a later date. Parks used crypto gains to build a reputation Prosecutors said Parks had boasted about his profits online in an attempt to earn credibility as a crypto influencer, sharing tips for achieving what he called a “MultiMillionaire Mentality” in a September 2022 YouTube video. Related: Bitcoin miners and AI firms compete for cheap sustainable energy His website, which is still online, promoted a subscription-based self-improvement and wealth coaching program for $10 a month, with optional one-on-one consulting at $150 per month and rewards paid in his crypto token. Parks (pictured) also went by the moniker “CP30,” a humanoid robot from the Sci-Fi franchise Star Wars. Source: MultiMillionaire LLC But US Attorney Nocella Jr said that Parks wasn’t the innovator and thought leader he had branded himself to be. “In the end he was merely a fraudster whose secret to getting rich quick was lying and stealing.” Magazine: Altcoin season 2025 is almost here… but the rules have changed Read More

Key takeaways: China’s central bank stimulus could redirect liquidity into cryptocurrencies. Rising US Treasury yields suggest lower risk aversion, supporting potential recovery in altcoin markets. Central banks stimulate growth by reducing interest rates or enabling special financing conditions, effectively increasing the money supply. This dynamic benefits risk assets such as stocks and cryptocurrencies. Traders now question if the Chinese central bank’s next move will provide the liquidity boost that finally drives altcoins beyond their previous all-time highs. Economic stimulus is beneficial for the cryptocurrency market A March 2025 21Shares report highlighted a striking 94% correlation between Bitcoin’s (BTC) price and global liquidity, surpassing both the S&P 500 and gold. Altcoin market capitalization, excluding stablecoins, USD. Source: TradingView / Cointelegraph Currently, the US M0 monetary base is $5.8 trillion, followed by $5.4 trillion in the eurozone, $5.2 trillion in China, and $4.4 trillion in Japan, according to Porkopolis Economics. With China accounting for 19.5% of global domestic product, its monetary policy decisions remain crucial, even when the US Federal Reserve dominates headlines.  Top monetary assets, USD. Source: Porkopolis Economics On Thursday, China reported a 0.1% decline in July retail sales compared with the prior month. Goldman Sachs estimates show that in July alone, investments in fixed assets fell 5.3% year-over-year, the steepest contraction since March 2020. Meanwhile, industrial production rose by just 0.4% during the month. China’s survey-based urban unemployment rate also climbed to 5.2% in July, up from 5% in June.  Bloomberg Economics analysts Chang Shu and Eric Zhu noted that the People’s Bank of China (PBOC) could introduce stimulus measures “as soon as September.” Similarly, economists at Nomura and Commerzbank argued that it is only a matter of time before stronger support policies arrive. Still, even if the PBOC adopts a more expansionist stance, cryptocurrency investors may hesitate if global recession fears intensify. US consumer sentiment deteriorates, but traders are not fearful The University of Michigan’s consumer survey, released on Friday, showed that 60% of Americans expect unemployment to worsen over the next year, a sentiment last recorded during the 2008–09 financial crisis. Yet markets have remained resilient. The S&P 500 closed at a new all-time high, while yields on 5-year Treasurys also moved higher, suggesting investors still lean toward optimism. Related: Bitcoin’s all-time high gains vanished hours later: Here’s why US 5-year Treasury yields. Source: TradingView / Cointelegraph When recession fears rise, demand typically increases for assets backed by the US government, allowing investors to accept lower yields. After dropping to 3.74% on Aug. 4, the lowest level in more than three months, 5-year Treasury yields rebounded to 3.83% on Friday. The move indicates traders are becoming less risk-averse, opening space for a rebound in altcoin market capitalization. If China follows through with stronger stimulus, that added liquidity could be the catalyst for a broad rotation into risk assets. In such a scenario, the push from the PBOC may be enough to propel cryptocurrencies to fresh all-time highs. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Read More