A widely followed crypto analyst says decentralized borrowing and lending protocol Aave is bound to surge once the bear market is over. In a new video, pseudonymous Coin Bureau host Guy tells his 2.08 million subscribers that AAVE remains undervalued during the current market downturn. “Today, Aave’s ecosystem reserve only holds 1.7. million AAVE, according …
Monthly archives: July 2022
Crypto Exchange BitMEX Says One Metric Reveals When Bitcoin Bear Market Will End
Crypto trading platform BitMEX is revealing one metric that it says could signal the end of the bear market. In a new blog post, BitMEX says that based on Bitcoin’s Market Value to Realized Value Ratio (MVRV), BTC is currently early in the bear cycle compared to previous bear markets. MVRV is the ratio of …
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Ethereum devs confirm the perpetual date for The Merge
Ethereum network is nearing the merger phase of its crucial transition from proof-of-work (PoW) mining consensus to proof-of-stake (PoS). Ethereum (ETH) devs offered a perpetual merger date during a conference call on Thursday. The conference call saw core Ethereum developer Tim Beiko, who runs core protocol meetings, propose September 19 as the tentative target date for …
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Germany and the US share the top spot in the global crypto rankings: report
Germany and the United States shared the spoils in the latest quarterly global cryptocurrency rankings released by analytics firm Coincub. The two countries now share the top rankings, with Germany making space for the rising U.S., having topped the first quarter rankings for 2022. Their dominance is due to progressive regulatory environments and major Bitcoin (BTC) …
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Bitcoin whales still ‘hibernating’ as BTC price nears $21K
Bitcoin (BTC) hit $21,000 for the first time in several days on July 15 as markets enjoyed what one trader called “summer relief.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Altcoin rebound eyed as BTC price adds 11% Data from Cointelegraph Markets Pro and TradingView showed BTC/USD grinding higher overnight to just tap the $21,000 mark …
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ECB report likens PoW to fossil fuel cars, PoS to electric vehicles
Amid the soaring inflation, the European Central Bank (ECB) has found time to sum up its concerns about the “significant carbon footprint” of Bitcoin (BTC) and other cryptocurrencies, which require vast amounts of computational power. ECB published the report titled “Mining the environment – is climate risk priced into crypto-assets?” on July 12. In the report, the …
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CFTC Adds 34 Crypto Entities to the RED List
The Commodity Futures Trading Commission has added 34 crypto entities to its RED list. The entities were added to the list because they have not registered with the agency. The CFTC and other U.S. financial regulators are currently working on regulating the crypto market, and a policy may arrive this year. The United States Commodity …
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Q2 2022 Web3 Security Report: 48 Major Exploits, $718.34M Lost | Beosin & Footprint Analytics
In the second quarter of 2022, 48 major attacks were monitored in the Web3 space, with total losses of approximately $718.34 million, down approximately 40 percent from $1.2 billion in the first quarter and approximately 2.42 times the losses in Q1 2021 ($296.56 million). Click here to download the full Q2 web3 security report, or …
South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset
The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end of 2023. A Safer Crypto Ecosystem …
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Bitfinex to Donate $1.3 Million Worth of BTC and USDT to Communities in El Salvador
The crypto exchange Bitfinex announced on Thursday that the trading platform plans to donate 36 bitcoin and $600K worth of tether tokens to help bolster communities and small businesses located in El Salvador. According to Bitfinex, the funds will initially target small businesses in Salvadoran communities located in Apopa, Ilopango, and Soyapango. Donated Funds to …
Shanghai Aims to Grow a $52 Billion Metaverse Cluster by 2025
The Government of the city of Shanghai has proposed a group of guidelines to help it shift into a metaverse power. The plan of action defines each one of the technologies that the municipality needs to focus on to achieve the goals of building a $52 billion metaverse economy, while at the same time helping …
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5 Best Cryptocurrency to Buy for the Weekend Rally – July 2022 Week 2
The cryptocurrency market has had a boost in the past day, decoupling a little from stock markets. Its total cap has pushed to $974 billion, representing a rise of 4.5% in the past 24 hours and 8% in the past 48. Major coins have, on average, risen in proportion with the market, although some have …
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BREAKING NEWS: Celsius is Filing for Chapter 11 Bankruptcy ‘imminently’
One of the most popular crypto lending platforms, Celsius has reportedly filed for chapter 11 bankruptcy protection. In such form of bankruptcy, the debtor remains “in possession”, has the powers and responsibilities of a trustee, may continue to handle the business, and, with court approval, may borrow new money. Quite recently, Celsius said it would …
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Here’s What’s Next for Bitcoin, Ethereum and Cardano, According to Trader Who Predicted 2022 BTC Collapse
A widely followed crypto trader is outlining the path forward for three major digital assets, including Bitcoin (BTC) and Ethereum (ETH). Starting with BTC, pseudonymous crypto trader Capo tells his 443,000 Twitter followers that the flagship digital asset will hit new lows if it falls below the $19,000 level. According to Capo, Bitcoin’s recent rise …
Aussie FPA supports ‘crypto rule book’ and regulation of exchanges
The Financial Planning Association of Australia (FPA) has shown its support for the “crypto rule book” idea and called for regulating exchanges instead of crypto assets. In May, the Australian Law Reform Council (ALRC) proposed to tackle crypto regulation through a rule book-style framework which sets out a series of gradually updated compliance principles for …
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