Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned. The Swedish central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report entitled, “Cryptocurrencies and their impact on financial stability,” the
Automated market makers are a true public good in crypto, enabling genuinely decentralized trading 24/7 and supporting the wider DeFi ecosystems. But they’re not without a host of problems, writes digital economist and academic Christos A. Makridis. The decentralized finance (DeFi) market has surged since 2021, growing from just over $20 billion to nearly $160
The Republic of Palau announced Friday that it will issue identification cards to its digital residents in the form of nonfungible tokens (NFTs) on Binance’s BNB Chain blockchain. Binance founder and CEO Changpeng Zhao (CZ) was on hand in the Pacific Island nation for the unveiling of the NFTs and to meet with Palauan President
In modern times of rapid globalization and digitization, technological developments have now reached such proportions that the usage of cryptocurrencies is no new phenomenon. The technology behind blockchain opens the internet for financial services by replacing trust, a fundamental component of the financial system for centuries, with transparency integrated into a decentralized network. Thereby, blockchain
Ethereum’s native token Ether (ETH) resumed its decline against Bitcoin (BTC) two days after a successful rehearsal of its proof-of-stake (PoS) algorithm on its longest-running testnet “Ropsten.” The ETH/BTC fell by 2.5% to 0.0586 on June 10. The pair’s downside move came as a part of a correction that had started a day before when
Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold off to a daily low of $28,852
Ethereum has broken below $1,700 since July 2021. At that time, ETH’s price was reacting to the downside due to an increase in selling pressure across the crypto market. Related Reading | TA: Ethereum Holds Key Support, Why ETH Must Clear This Hurdle This time, Ethereum seems to be reacting to poor macro-economic conditions, and a
The battle for higher profitability between Bitcoin and Ethereum has been a long-running one. These two cryptocurrencies command the most market share in the market, and by extension, have the most supporters. Despite operating in the same space, the rivalry between them has been unparalleled. It doesn’t just end at the networks themselves but flows
On a sun-splashed day in the Swiss Alps, the chief technology officer of Bitfinex and Tether, Paolo Ardoino, shed light on the Plan B Lugano strategy, Tether as an onramp into Bitcoin (BTC) and —crucially — his favorite pizza toppings. Fresh off the plane from Norway, where Ardoino attended an increasingly Bitcoiner-friendly event, the Oslo
Ether (ETH) is down 25% in just a month and even the recent upgrade to a proof-of-stake (PoS) consensus on the Ropsten testnet failed to move the altcoin’s price. The merge is meant to address energy-use issues and open a path for higher transaction output, but the actual full transition for the Ethereum network is
Litecoin is one of the earliest alternative coins (altcoins) that came to light after Bitcoin (BTC). Created in October 2011, it is now the 20th most valuable cryptocurrency, boasting a market capitalization of over $4 billion, according to CoinMarketCap data. The MimbleWimble upgrade was first conceived more than two years ago as part of the
Terra (LUNA2) reversed a portion of the losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions. LUNA2 traders are shorting it In detail, LUNA2’s price soared from $2 to as high as $3.58. The volatile intraday move
The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities. Kwon was
The founder of financial tech company Block Inc., Jack Dorsey announced he is collaborating with the rapper Jay-Z by launching a Bitcoin Academy in Brooklyn. The Bitcoin Academy’s mission aims to empower and provide education to the region. The project’s website further details that residents of Marcy House, located in Brooklyn, New York will be
Positive price movements during bear markets are noteworthy primarily because they can help identify projects that have a good chance of surviving until the next bull cycle . Generally, price action in June has been stagnant for a majority of the crypto market because traders are nervous about Bitcoin’s (BTC) oscillation around the $30,000 support
The inventor of Ethereum Vitalik Buterin was the unintended recipient of 1 million OP tokens from this network’s scalability solution Optimism. The team behind this project addressed concerns about a potential exploit related to the launch of their governance token. Related Reading | TA: Bitcoin Stuck In Key Range, Why A Major Breakout Is Possible As
Osmosis, a decentralized exchange (DEX) built on the Cosmos network, was halted just before 3:00 am EST on Wednesday after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million. The bug was first identified in a Reddit post on the official Cosmos Network page. The user, Straight-Hat3855, brought attention to a “serious
Traditional hedge funds are slowly embracing cryptocurrency investments but are keeping their exposure limited as the market continues to mature, according to new research from PricewaterhouseCoopers, or PwC. In its 4th Annual Global Crypto Hedge Fund Report 2022, PwC said roughly one-third of traditional hedge funds surveyed are already investing in digital assets such as
Bitcoin (BTC) continues to trade in a range with the local tops and bottoms coinciding with increased whale activity in the region, according to on-chain analytics resource Whalemap. The range-bound action in Bitcoin has kept the analysts guessing and a few expect the consolidation to continue for some more time, while others anticipate another leg
Veteran futures trader Peter Brandt has suggested that the price of Ether (ETH) could drop to as low as $1,268 in the coming month, but the consensus view of 15,500 members of the CoinMarketCap community is that the price will hit roughly $3,131 by June 30. The Ethereum network is now in the final steps