Cryptocurrencies pegged to the U.S. dollar have grown exponentially in the past several years. Stablecoins, as their name implies, offer much-needed stability to traders who use them to store value, deploy capital, and exit their trades. Due to their inherent relation to Bitcoin and other cryptocurrencies, stablecoins are solid indicators of the broader market performance, as …
Continue reading “Research: Stablecoin supply on exchanges reaches all-time high”
AArk Invest’s trading data for July 25 shows that it sold over 1.41 million Coinbase Global Inc shares due to poor stock performance amid the bear market and an ongoing investigation by the SEC. Coinbase shares closed at $52.93 on July 25, after three Ark funds sold off part of their portfolio. Details of the …
Rio de Janeiro’s secretary of finance and planning, Andrea Senko, recently revealed in an interview that her team is looking to spur the adoption of Bitcoin (BTC) by adding the digital asset to the city’s treasury portfolio. What do officials have in mind exactly? Senko believes that by integrating Bitcoin into Rio de Janeiro’s financial, …
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Ethereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s session. These gains came as prices rose for a second consecutive day, with tron also extending recent gains during hump day. Overall, the crypto market cap is 1.51% higher as of writing. Ethereum Classic (ETC) Ethereum classic (ETC) …
Continue reading “Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains”
On Tuesday, the Christopher Wallace Estate, managers of the Notorious B.I.G.’s music, fashion, film, and unreleased archives, dropped a collection of 3,000 non-fungible tokens (NFTs) that sold out in ten minutes. The digital collectibles were dropped via the NFT platform Oneof, and owners of the new NFTs now have the licensing rights to the audio …
Authorities in Russia are preparing a number of changes to existing laws in order to adopt rules for the country’s market for non-fungible tokens, or NFTs. A working group has discussed the matter and proposed solutions to legally define and regulate transactions with the digital collectibles. Economy Ministry Takes Initiative to Regulate NFTs in Russia …
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Bitcoin was trading marginally higher on Wednesday, as traders were preparing for today’s interest rate decision. The Federal Reserve is expected to hike rates by 75 basis points for the second month running, as inflation in the United States continues to rise to multi-decade highs. Ethereum was also in the green, rebounding from Tuesday’s losses. …
Months after rolling out its first collection of non-fungible tokens (NFTs), the Dubai Police has said it will launch the next collection at the 2022 edition of The Gulf Information Technology Expo (GITEX). People from outside the country will also get a chance to own the next Dubai Police NFT collection. First Government Entity in …
Despite most cryptocurrency markets being red, Ethereum Classic rockets 14% in 24 hours. The ETC price increased to $27 on July 27, representing a 100% gain nine days after bottoming out at $13.35. The optimism surrounding Ethereum’s expected network upgrade in September has significantly affected its price recovery. ETC: Optimization driven by Ethereum 2.0 drives …
The International Monetary Fund has said that the crash in Bitcoin prices has not affected global financial stability. The financial institution released a report titled the “World Economic Outlook Update: Gloomy and More Uncertain,” acknowledging that the sell-off has not harmed the financial system. IMF says the crypto crash has not affected the financial stability …
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Last week, the cryptocurrency market entered a relief rally as Bitcoin reclaimed mid-June levels of around $24K. However, the market is tanking again, with cryptocurrencies returning to test lower support levels. Crypto market cap sustains $1 trillion At the time of writing, the global cryptocurrency market cap was sitting at slightly above $1 trillion, according …
Continue reading “Crypto market tumbles again as it struggles to retain a $1 trillion market cap”
A Shark Tank investor is deeply concerned about how the impending wave of regulation will affect the cryptocurrency space. In a new post, billionaire Mark Cuban tells his 8.7 million Twitter followers that in light of a recent U.S. Securities and Exchange Commission (SEC) lawsuit alleging insider trading by a Coinbase employee, he anticipates even …
Summary: USDT stablecoin issuer Tether cleared the air on its short-term debts, again. The digital asset company debunked rumors that claimed Tether holds a massive amount of Chinese commercial paper. The statement released today also addressed the threat of such misinformation to the broader crypto industry. CTO Paolo Ardoino stated that the firm’s commercial paper …
Summary: Do Kwon is required to notify authorities should he enter South Korea. Investigators served the request as Kwon is believed to be in Singapore. Departure bans were also served to several top-ranking Terra executives and managers like Shin Hyun-Seong, the co-founder of Terraform Labs. The move comes after prosecutors raided the offices of seven …
A Singapore-based payment solution provider is going to use On-Demand Liquidity (ODL), Ripple’s XRP-powered cross-border payment product. FOMO Pay will use ODL to improve its cross-border treasury flows, according to a new press release from Ripple. The fintech company, which was founded in 2015, aims to use the cross-border payment product to get constant access …
