BTC $79,000.07 -0.90%
ETH $2,479.67 -0.15%
BNB $738.62 -1.21%
XRP $1.39 -1.39%
SOL $103.77 -2.39%
TRX $0.3341 -0.32%
DOGE $0.0898 +0.59%
ADA $0.2201 +0.58%
BCH $265.35 +3.39%
LINK $12.89 +4.30%
HYPE $85.60 -2.83%
AAVE $132.26 -1.12%
SUI $0.8114 +1.43%
XLM $0.1917 +3.80%
ZEC $1,157.92 -1.97%
BTC $79,000.07 -0.90%
ETH $2,479.67 -0.15%
BNB $738.62 -1.21%
XRP $1.39 -1.39%
SOL $103.77 -2.39%
TRX $0.3341 -0.32%
DOGE $0.0898 +0.59%
ADA $0.2201 +0.58%
BCH $265.35 +3.39%
LINK $12.89 +4.30%
HYPE $85.60 -2.83%
AAVE $132.26 -1.12%
SUI $0.8114 +1.43%
XLM $0.1917 +3.80%
ZEC $1,157.92 -1.97%

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WasabiCard has completed nearly $10 million in Pre-A round financing, with participation from well-known institutions such as Vernal Capital and Avenir Group

The global stablecoin payment infrastructure platform WasabiCard today announced the completion of its Pre-A round of financing. Including previous funding, the total amount raised by the company has approached 10 million USD, with participation from four well-known institutions: Vernal Capital, Avenir Group, Vision Plus Capital, and 01VC.This round of financing will be used to build and improve the global payment infrastructure, compliance system, and key market business layout, enhancing cross-border payment service capabilities and global operational capabilities, further promoting the company's construction of a compliant, efficient, next-generation financial infrastructure aimed at the internet era.As stablecoins gradually move from trading scenarios to real commercial applications, the demand from enterprises for global payment, global card issuance, fund management, and cross-border settlement infrastructure continues to grow. WasabiCard currently serves over 500 enterprise clients globally, with a cumulative card issuance exceeding 500,000 cards and a total transaction scale surpassing 1 billion USD.In the future, WasabiCard will continue to expand its global payment network and multi-chain payment ecosystem, promoting the further implementation of stablecoin payments in global commercial scenarios.

In the Ural region of Russia, 10,000 mining machines were seized from an illegal mining site, with electricity cost losses amounting to nearly 1 billion rubles

According to Bits.media, a large illegal cryptocurrency mining operation was discovered in the city of Nizhny Tagil in Sverdlovsk Oblast, Russia, and the nearby city of Kushva. The mining operation was hidden in an abandoned industrial park and deployed about 10,000 mining machines, which were dismantled by a joint operation of the Federal Security Service of the Russian Federation, the police, and the power company.Local power companies estimate that the losses caused by the long-term illegal electricity usage of this mining operation amount to nearly 1 billion rubles (approximately 12.7 million USD). Investigators stated that its electricity consumption was sufficient to meet the lighting needs of a small city. Law enforcement has arrested three suspects, who are currently under house arrest and are being investigated for "causing property damage through deception or abuse of trust." Under Russian law, those involved could face up to 5 years in prison.Investigations revealed that the operators of the mining site accessed the power grid through intermediaries and allegedly tampered with electricity meter data to cover up the actual electricity usage. Law enforcement agencies stated that the actual electricity consumption of the mining operation was about twice the approved quota. The local energy department initially launched an investigation due to frequent voltage fluctuations, power outages, and equipment failures in the abandoned factory area, ultimately pinpointing the location of the mining operation. A local television station also produced a documentary titled "Mining" to document this operation.

Analyst: Bitcoin volatility has decreased by 56% from its quarterly peak, and the market has entered a high compression accumulation phase

On-chain analyst Axel Adler Jr stated in a recent report that the Bitcoin market has entered a significant volatility compression phase. The realized volatility over the past week (30-day moving average) has dropped from about 39 in early March this year to the current level of around 17, with a quarterly decline of over 56%, approaching historical low levels. Currently, the BTC price remains around $73,500, still below the approximately $79,500 200-day moving average. Historical experience shows that extremely low volatility often indicates that the market is accumulating energy, typically followed by a significant directional trend. However, volatility compression itself does not provide directional signals; it merely indicates that the market is about to make a new trend choice.Meanwhile, the Delta indicator, which reflects changes in market premiums (the difference between market capitalization growth rate and realized market capitalization growth rate), has been in negative territory for six consecutive months, further dropping to about -0.0013 in May. This indicator suggests that the growth rate of Bitcoin's market capitalization continues to lag behind the growth rate of realized market capitalization, indicating a contraction in market risk appetite and valuation premium.The current market exhibits a combination of "low volatility + cooling premiums," which is not a typical overheated bull market structure but rather resembles a consolidation phase after emotional cooling. If BTC subsequently returns above the 200-day moving average, and Delta rebounds to near zero, it will indicate that the market has re-entered a risk appetite expansion cycle; conversely, if volatility releases downward and Delta continues to deteriorate, it may enter a deeper risk-averse phase.In summary, Axel Adler Jr stated that the current market direction remains neutral, but the degree of compression is at a high level, and the probability of significant directional volatility in the future is continuously increasing.
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