TWIC: BREAKING — Doge Mining About To Roll Out On NEO Miners Next Week
This week has been a whirlwind of developments in the crypto world, with the possibility of a $14 billion Bitcoin sell-off from Mt. Gox and the US government looming, Telegram’s CEO facing legal trouble in France, and exciting news for miners as Dogecoin (DOGE) mining prepares to launch on Neo Miners next week. Let’s dive into the key stories shaping the week.
1. Mt. Gox and US Gov’t Could Introduce $14 Billion Bitcoin Selling Pressure
2. Telegram CEO Pavel Durov Faces Legal Trouble in Paris
3. Altcoins Flashing Buy Signals Amid Historic Lows
4. Doge Mining: the official roll-out will begin next week
Mt. Gox and US Gov’t Could Introduce $14 Billion Bitcoin Selling Pressure
Bitcoin’s sluggish momentum could extend into September, with nearly $15 billion worth of additional selling pressure potentially flooding the market. Over $14.8 billion worth of Bitcoin could soon be introduced as the US government holds over 203,000 BTC worth $12.1 billion, while defunct crypto exchange Mt. Gox is preparing to distribute another 46,000 BTC worth over $2.7 billion.
The Mt. Gox repayments, scheduled before the end of 2024, may not significantly impact the market, according to a report from Kaiko. Kraken’s liquidity profile suggests that even with the added pressure, structural issues affecting the broader market are unlikely.
Despite fears of a major sell-off, many Mt. Gox creditors, who have seen their BTC appreciate over 8,500% in value since the hack, have yet to sell during previous distributions.
Telegram CEO Pavel Durov Faces Legal Trouble in Paris
This week, Telegram founder and CEO Pavel Durov faced legal trouble in France after being taken to court from custody. Durov’s legal issues stem from charges including conspiracy, money laundering, and providing cryptology services without prior declaration. French prosecutors have yet to issue a final decision on the case, with further developments expected as Durov’s custody period ends and the investigation continues.
Altcoins Flashing Buy Signals Amid Historic Lows
Altcoins may be in a prime accumulation phase as flashing buy signals suggest the market could be at its bottom. Crypto trader Luke Martin highlighted that altcoins are at “sell your house to buy more” levels, a sentiment he previously saw before Bitcoin’s sixfold price surge in 2020.
While the total altcoin market cap remains down 47% from its all-time high, some analysts believe that the current consolidation could trigger an upside rally, particularly with Bitcoin dominance nearing potential peaks.
BREAKING — Doge Mining About To Roll Out On NEO Miners Next Week
The MXC Foundation has announced that the official roll-out of Dogecoin (DOGE) mining on Neo Miners will begin next week. This exciting new feature will be accessible via the AXS app, allowing users to mine DOGE directly using their Neo Miner hardware.
The MXC Foundation, known for its innovative approach to decentralized mining and blockchain infrastructure, has been working on integrating Dogecoin into its ecosystem for several months. With the upcoming launch, Neo Miner users will be able to diversify their mining operations by adding DOGE to their portfolios alongside other supported tokens.
This move is expected to bring fresh attention to Dogecoin mining, particularly for those seeking a simplified, user-friendly mining solution. By utilizing the AXS app, miners can easily manage their operations from their smartphones, making it more accessible to both newcomers and seasoned miners.
the officiall roll-out will begin next week, and excitement is building as the countdown begins for this next evolution in decentralized mining.
