Bitcoin Sidechain Plasma Gears Up for Late Summer Mainnet Launch Following Successful ICO

Plasma, an EVM-compatible Bitcoin sidechain optimized for stablecoin transactions, is set to launch its mainnet by late summer 2025, as announced by CEO Paul Faecks. The project, which recently concluded a successful ICO, aims to become the leading solution for efficient stablecoin transfers. A public pre-sale is scheduled to commence at least 40 days prior to the mainnet activation, with specific restrictions for U.S. participants. This development marks a significant milestone in Bitcoin's ecosystem, enhancing its utility for stablecoin transactions.

Bitcoin Sidechain Plasma Targets Late Summer Mainnet Launch After Successful ICO

Plasma, a stablecoin-optimized bitcoin sidechain, is preparing for its mainnet launch by late summer, according to CEO Paul Faecks. The EVM-compatible blockchain aims to specialize in stablecoin transactions, positioning itself as the premier solution for moving stablecoins efficiently.

The project will initiate a public pre-sale at least 40 days before mainnet activation, with U.S. participants facing a 12-month token lock-up to comply with regulatory requirements. If summer ends on September 22, the XPL pre-sale WOULD commence by August 13 at the latest.

Plasma's launch comes amid growing stablecoin momentum, fueled by Circle's recent IPO, U.S. legislative developments, and increasing corporate interest in stablecoin issuance. The sidechain promises specialized optimizations for stablecoin transactions while maintaining compatibility with Ethereum's VIRTUAL machine.

Startup Raises $6M to Shield Bitcoin from Quantum Computing Threats

Project Eleven has secured $6 million in seed funding to address quantum computing's potential to compromise Bitcoin's cryptographic security. The round was co-led by Variant and Quantonation, with participation from Castle Island Ventures, Nebular, and Formation.

Quantum computing remains theoretical but poses an existential threat to current blockchain encryption methods. "Every wallet, every account holder, every smart contract key must upgrade to quantum-safe cryptography," the startup warned. The funding will accelerate development of post-quantum cryptographic solutions for digital assets.

Bitcoin's Historic Crash to Below $0.01 on Mt. Gox

Bitcoin's resilience today contrasts sharply with its volatile past. On this day 14 years ago, the cryptocurrency plummeted to nearly zero in a localized crash on Mt. Gox, then the dominant exchange for BTC trading. The incident, though minor in scale with just 2,000 BTC lost, underscored the fragility of early crypto markets.

Mt. Gox was Bitcoin's sole price discovery venue in 2011, handling virtually all trading volume. The crash followed a peak above $26 earlier that June—a high that would stand for nearly two years. Observers watched in real time as prices collapsed without a single uptick, a stark reminder of crypto's speculative infancy.

Today's institutional adoption has rendered such extreme scenarios improbable. Bitcoin now plays a gold-like role in digital finance, with its zero-risk scenario dismissed even by skeptics. The Mt. Gox episode remains a cautionary tale about centralized points of failure in decentralized ecosystems.

Nasdaq-Listed Healthcare Firm Prenetics Allocates $20 Million to Bitcoin Treasury

Prenetics Global Limited, a Nasdaq-listed health sciences company, has made a bold MOVE into digital assets by purchasing $20 million worth of Bitcoin for its corporate treasury. The firm acquired 187.42 BTC at an average price of $106,712 through Kraken's custody platform, signaling the start of a comprehensive Bitcoin strategy approved by its board.

The healthcare company plans to integrate Bitcoin into its consumer health platforms and operations, with CEO Danny Yeung framing the investment as part of a "new era" where genomics, personalized medicine, and digital assets converge. Prenetics hinted at further expansion of its Bitcoin holdings, joining a growing list of corporations adopting cryptocurrency treasury strategies.

Notably, the company has enlisted a Trump-linked crypto advisor to guide its digital asset initiatives. This move comes as institutional adoption of Bitcoin continues to accelerate across diverse industries, including the traditionally conservative healthcare sector.

Bitcoin's June Breakout Hinges on Geopolitical Stability and Market Dynamics

Bitcoin's price action remains range-bound NEAR all-time highs, with traders anticipating a continuation of the bullish trend. Veteran analyst Kaleo notes a striking dissonance: despite $2.408 billion flowing into BTC ETFs between June 9-18, prices retreated from $110,000 to $104,000—a divergence suggesting either hidden sell pressure or accumulation beneath the surface.

The cryptocurrency market weathered the FOMC volatility cycle with remarkable resilience. Weekly charts show BTC testing but failing to breach its 2024 peak, though it maintains position above all key moving averages. A weekly Fair Value Gap and subdued RSI readings compared to last year's frenzy suggest room for upward momentum.

All eyes now turn to the S&P 500's impending breakout attempt. Historical parallels with the COVID-era recovery raise questions about renewed correlation between BTC and traditional markets. The Iranian geopolitical situation emerges as an unexpected variable that could catalyze Bitcoin's next major move.

Bitcoin Price: $125K or $90K? Here’s What To Expect

Bitcoin's price action remains range-bound as bulls and bears clash for control, with geopolitical tensions like the Israel-Iran conflict adding to the volatility. Analysts project a potential surge to $125,000 amid bullish sentiment or a drop to $90,000 if bearish forces dominate.

The Federal Reserve's hawkish stance on interest rates and elevated inflation expectations continue to weigh on markets. Meanwhile, Bitcoin ETFs have absorbed over $24 billion in demand since mid-April, yet price momentum remains stagnant. Wednesday alone saw $388 million in inflows, highlighting institutional interest despite muted price action.

QCP Capital notes cautious positioning as front-end implied volatilities dip, erasing recent gains. The imbalance between positive ETF flows and stagnant prices underscores the market's unreliable nature, with 10x Research pointing to selective bias in highlighting bullish factors while ignoring bearish signals.