New data shows institutional investors are jumping on the opportunity to buy Bitcoin and one of Ethereum’s main competitors. In its latest Digital Asset Fund Flows Weekly report, CoinShares finds digital asset investment products enjoyed inflows nearing $90 million last week, with leading crypto asset Bitcoin taking the lion’s share. “Digital asset investment products saw inflows …
Monthly archives: May 2022
Ripple CEO Brad Garlinghouse Says NFTs Are Underhyped – Here’s Why
The CEO of San Francisco-based payments company Ripple Labs says the ability of non-fungible tokens (NFTs) to tokenize various kinds of assets is being underutilized. In a recent interview with Cointelegraph at the World Economic Forum, Garlinghouse says that NFTs will become more widely used once investors realize how useful they can be. “Back in …
Continue reading “Ripple CEO Brad Garlinghouse Says NFTs Are Underhyped – Here’s Why”
Tron (TRX) Surpasses $6,000,000,000 in Total Value Locked Amid Explosion of USDD Algorithmic Stablecoin
An under-the-radar altcoin’s total value locked (TVL) is on the rise as its affiliated algorithmic stablecoin continues to capture more market share. Tron (TRX), a project originally designed to serve as a decentralized storage and distribution platform for social media and digital entertainment content, is now the third-largest blockchain in terms of TVL at $6.03 …
Bitcoin (BTC) on Verge of Bullish Rebound, According to Top Analyst – Here’s His Target
A closely tracked crypto strategist and trader is predicting a strong Bitcoin (BTC) bounce in the coming weeks. In a new strategy session, analyst Kevin Svenson tells his 69,000 YouTube subscribers a BTC rally is likely incoming after the top crypto asset by market cap printed nine consecutive red candles on the weekly chart. “But …
Binance to launch Africa crypto awareness tour as adoption ramps up
With a 1,200% increase in received crypto volume between 2020 and 2021, the accelerated adoption of digital assets in Africa has captured the attention of multiple companies and organizations looking to take part in this growing market. Set to take place in June, the Blockchain and Cryptocurrency Awareness Tour (BCAT) is a Binance-powered ongoing awareness campaign that …
Continue reading “Binance to launch Africa crypto awareness tour as adoption ramps up”
UN agency head sees ‘massive opportunities’ in crypto: WEF 2022
The United Nations is smitten with distributed ledger technology (DLT). In a conversation with Cointelegraph at WEF 2022, United Nations International Computing Centre (UNICC) director Sameer Chauhan explained the “massive opportunities” he sees in cryptocurrencies. [embedded content] A former traditional finance executive and head of the UNICC since 2018, Chauhan has seen the rise and …
Continue reading “UN agency head sees ‘massive opportunities’ in crypto: WEF 2022”
Basel Committee presses on with restrictive requirements for banks’ crypto holdings
The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end. In a Tuesday press release, the committee issued the following statement, which …
DeFi isn’t dead, it just needs to fix these 3 critical problems
The persistent challenges faced by decentralized finance have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken …
Continue reading “DeFi isn’t dead, it just needs to fix these 3 critical problems”
CoinShares CEO Declares the Company Lost $21M Due to UST’s Depeg, States it Was a Humbling Lesson
Summary: CoinShares has released its 2021 Financial Annual Report. In the report, CoinShares CEO has stated that the company suffered a £17 million ($21.45 million) loss from its DeFi activities related to UST. CoinShares CEO has defined the loss as a humbling lesson for himself and the team. He also added that the events will …
BNB Chain Updates Roadmap, to Introduce Sidechains, META Apes, a Metaverse and Open Source Code
Summary: The team at BNB Chain has released an updated roadmap of the project. At the core of the roadmap is increased decentralization, sidechains, META Apes, a Metaverse, and open-source code. Binance Coin (BNB) continues to trade above the $300 support, with $350 the next resistance level. The team at BNB Chain has announced the …
Terra’s Mirror Protocol Stops Ongoing Exploit Dead on Its Tracks That Had Already Siphoned Off $2M in Assets
Summary: The team at the Terra-based Mirror Protocol has stopped an ongoing exploit that had already siphoned off $2 million in assets. The exploit was made possible through a faulty price Oracle that quoted the price of LUNC at around 5 UST when it was much lower. The attacker then loaded up on collateral and …
Tron’s DeFi activity spikes following the USDD launch
The collapse of the Terra USD (UST) stablecoin created several hurdles for the stablecoin networks. While some stablecoins have been stress tested since the UST crash, some have maintained a steady performance. The Tron stablecoin, USDD, was launched a few days before UST collapsed. USDD is an algorithmic stablecoin whose peg is maintained by the …
Continue reading “Tron’s DeFi activity spikes following the USDD launch”
Immutable X Price Prediction: IMX Is Bracing Up for a Downing Return
Immutable (IMX) Price Prediction – May 31An indication has surfaced to suggest the IMX/USD market activity is bracing up for a downing return in the near time. The base instrument’s valuation has been trading around $1.06 at an average percentage rate of 7.74 negative. Immutable X (IMX) Price Statistics:IMX price now – $1.07IMX market cap …
Continue reading “Immutable X Price Prediction: IMX Is Bracing Up for a Downing Return”
Prada become the latest luxury brand to release NFTs
Non-fungible tokens (NFTs) have become increasingly popular over the past year. The growing popularity of NFTs has been adopted by some of the most luxurious brands globally, including Balenciaga, Balmain, and Gucci. Prada is joining these companies, and it is moving into the world of NFTs. Prada is planning to release its own NFT collection …
Continue reading “Prada become the latest luxury brand to release NFTs”
South Korean authorities investigate possible price manipulation in Terra crash
The recent collapse of the Terra LUNA token and the Terra USD (UST) stablecoin has spooked the market because of the increased fears of increased regulatory attention. It was reported that some investors had filed a report with Singapore authorities because of the crash. Now, South Korea could be following suit. South Korean law enforcement …
Continue reading “South Korean authorities investigate possible price manipulation in Terra crash”