As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation.
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Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play. BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp – a new May high. The pair had dipped with United States equities at the
Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a
In the United States, the White House released the national standards strategy for key and emerging technologies on May 4, identifying eight technology sectors that will have a significant economic impact in the near future. Among the eight technologies are artificial intelligence, communication and network technologies, biotechnology and semiconductors, with the inclusion of distributed ledger
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on
There’s a beacon of light in the bear market tunnel. The El Salvador nonprofit program, “My First Bitcoin” (Mi Primer Bitcoin), raised over 1 Bitcoin (BTC) in donations-not from venture capitalists and investors–but from generous Bitcoin education advocates worldwide. Donations flooded in from Venezuelans, Poles and Canadians as 100s of people around the world sent
Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States. The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 technology
Kenya’s lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible tokens (NFTs) transfers and a 15% tax on monetized online content, according to a newly introduced bill. Introduced to the Kenyan parliament on May 4, The Finance Bill, 2023 would enact a digital asset tax on “income derived from the transfer
Our weekly roundup of news from East Asia curates the industry’s most important developments. SUI rises to glory as Sun sets sights on it On Apr. 30, cryptocurrency exchange Binance unveiled two LaunchPools for the then-up-and-coming listing of Sui tokens. As a Layer-1 blockchain created by Mysten Labs, which in turn was founded by former
El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El
Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%. The risk asset comedown accompanied more mayhem
A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets. On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short
For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily
The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC. In a May 3 vote, 118 members of the state’s legislative body agreed to pass House Bill 690, with only two representatives absent and none voting against the
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great consolidation’ in the banking sector, a
There’s a narrative that’s grown up around Ethereum’s two most important co-founders, Joe Lubin and Vitalik Buterin, to explain how they went in different directions almost a decade ago. It suggests the pair fell out over the blockchain’s future direction, with the idealistic 20-year-old Buterin determined to turn Ethereum into a nonprofit foundation, while Lubin
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift mood change for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk to daily lows at the previous day’s
Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours,
Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The