Summary: Layer 2 transactions on Ethereum’s blockchain hit a new seven-day high, Orbiter Finance data showed. Orbiter’s dashboard recorded over 5.78 million transactions between October 27 and November 2. Arbitrum led the L2 pack with around 46.59% of layer 2 transactions carried out on the protocol. Transactions on Ethereum’s mainnet only exceeded L2s by about …
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Payments processor Stripe laid off 14% of its workforce — over 1,100 employees, CEO Patrick Collison announced in an email on Nov. 3. Collison attributed the layoffs to two “mistakes” by the leadership team — overestimating 2022 growth prospects and increasing operating costs. He wrote: “We were much too optimistic about the internet economy’s near-term …
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The firm also paid some of its former executives and board members before it filed for bankruptcy. 1 min read Updated: November 3, 2022 at 4:53 pm Cover art/illustration via CryptoSlate Bankrupt Bitcoin (BTC) mining data center operator Compute North paid its top executives over $3 million in benefits before filing for bankruptcy on Sept. …
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CryptoSlate’s analysis of realized price and cost basis revealed that Bitcoin could potentially break its current resistance as early as the second quarter of 2023. 2 min read Updated: November 3, 2022 at 2:15 pm Cover art/illustration via CryptoSlate CryptoSlate’s analysis of Bitcoin’s (BTC) realized price and cost basis cohorts revealed that the transition from …
Geopolitical Analyst Nick Giambruno called Nigeria’s eNaira project a “massive failure” while saying the outcome has not been “what the elites hoped for.” The eNaira launched on Oct. 25, 2021, with President Muhammadu Buhari saying Africa’s first Central Bank Digital Currency (CBDC) would “increase remittances, foster cross-border trade, improve financial inclusion and enable the government …
Changes on Cronje’s verified Twitter account and LinkedIn account has sparked rumors that he is back in the industry. 1 min read Updated: November 3, 2022 at 2:14 pm Cover art/illustration via CryptoSlate Fantom (FTM) is up 24% over the last 24 hours to $0.27 amid rumors that DeFi trailblazer Andre Cronje is returning to …
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CryptoQuant co-founder Ki Young Ju said the Chinese government is a crypto whale, despite its negative posture toward the industry. FUN FACT: Government of China🇨🇳 is a crypto whale. Chinese authorities seized 194k BTC, 833k ETH, and others from the PlusToken scam in 2019. They forfeited these $6 billion-worth assets to the national treasury. FWIW, …
Continue reading “China holds $3.9B worth of Bitcoin despite anti-crypto stance”
On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority of the Monetary Policy Committee (MPC) members voted in favor of the 75bps increase. …
Polygon rose to its highest level since August, as the token climbed by as much as 10% on Thursday. Today’s rise comes despite cryptocurrency markets mainly residing in the red, with the global market cap down 0.41% as of writing. Flow was another notable expectation to today’s declines, climbing by 14% earlier in the day. …
The Open Metaverse Alliance, OMA3, was launched by a group of Web3 dedicated companies in order to create standards for an interconnected metaverse. The organization, formed by companies such as Animoca Brands, Dapper Labs, The Sandbox, and Unstoppable Domains, stated its objective was to achieve a decentralized, community-led, and user ownership-oriented open metaverse. Open Metaverse …
Bitcoin fell towards the $20,000 mark on Thursday, after the U.S. Federal Reserve once again moved to increase interest rates. The Fed hiked rates by 75 basis points (bps), as it chose to maintain its current hawkish policy. Ethereum, which initially surged on the news, was also lower in today’s session. Bitcoin Bitcoin (BTC) dropped …
Crypto legal expert Jeremy Hogan says the amicus briefs filed in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple are harming the SEC’s case. Hogan says the amicus briefs are strengthening Ripple’s case in the lawsuit the markets regulator filed against Ripple alleging XRP to be an unregistered security. “One of the things …
After an impressive 23.7% rally between Oct. 25 and Oct. 31, Binance Chain BNB, has faced a strong rejection from the $330 resistance. Is it possible that the two-day 6% sell-off from the $337.80 peak could indicate that further trouble is ahead? Let’s take a look at what the data shows. BNB Coin (BNB) 12-hour …
Despite the turbulence that broke out in the crypto market this summer, there is an important long-term marker that should be considered in any complex assessment — the combination of adoption and regulation. The latest report by EUBlockchain Observatory, named “EU Blockchain Ecosystem Developments,” tries to measure this combination within the European Union, combining the …
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The building of the metaverse is an ongoing process. Sebastien Borget, co-founder of The Sandbox metaverse, even called the future of the metaverse evolving. Speaking to Cointelegraph’s Gareth Jenkinson at the Web Summit tech conference in Portugal on Nov. 3, Borget said that what we see today in The Sandbox is “the natural evolution of …
