Russia is reportedly considering using stablecoins to make international payments, according to state-run media. According to a new report by Russian state publication Izvestia, Russia is looking to legalize the use of stablecoins to make cross-border payments. The report didn’t mention what type of stablecoins the Russian government is considering. The Deputy Chairman of Russia’s …
Monthly archives: July 2024
Blockchain Technology: Ensuring Security and Transparency in Online Betting
The rise of blockchain technology has brought about a wave of positive transformations across multiple sectors, including online gambling. This cutting-edge technology ensures safety and openness in tackling concerns within the gambling sector. Blockchain technology functions as a decentralized ledger system that securely logs transactions across a network of computers. Each transaction gets bundled into …
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VanEck and 21Shares Have Filed for Solana ETFs; Approval Odds Are Uncertain
Each fund would invest in SOL, which is currently the fifth largest cryptocurrency by market cap. Two asset management firms, VanEck and 21Shares, have applied to offer Solana spot exchange-traded funds (ETFs). VanEck filed its application with the U.S. Securities and Exchange Commission (SEC) on June 27, while 21Shares filed its application on June 28. …
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Unlock Financial Freedom with KK Miner: Generate $1,000 in Passive Income Every Day
KK Miner provides a straightforward way to mine without having to understand the complexities associated with traditional hardware. KK Miner is the world’s leading cloud mining platform, known for its highly profitable contracts. We provide a simple way to mine without the need to understand the complexities associated with traditional hardware. Become a part of …
Russia contemplating permanently legalizing stablecoins for cross-border payments
The Russian government is contemplating the official legalization of stablecoins for international transactions to simplify cross-border payments for Russian companies amid ongoing sanctions, Izvestia reported on July 3, citing the Russian central bank. According to the report, the Central Bank of the Russia Federation (CBR) is actively discussing proposals to permit the use of these …
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Low Bitcoin volatility marks potential market maturation amid steady prices
Onchain Highlights DEFINITION: Realized volatility is the standard deviation of returns from the mean return of a market. High values in realized volatility indicate a high-risk phase in that market. It is measured on log returns over a fixed time horizon or a rolling window to obtain a time-dependent observable. While implied volatility refers to …
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Europe’s largest Bitcoin miner Northern Data to launch IPO in the US
Europe’s largest Bitcoin miner, Northern Data AG, has announced plans for a substantial initial public offering (IPO) in the US at a valuation between $10 billion and $16 billion. The IPO, which will be held on the Nasdaq stock exchange, is scheduled for the first half of 2025 and may also include selling a minority …
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UAE banks signal digital asset demand with Taurus, Zand collaboration
Swiss crypto firm Taurus Managing Director Bashir Kazour said traditional financial institutions in the UAE, like banks, are eager to launch digital asset services. Kazour made the statement amid the firm’s new partnership with Zand, the UAE’s first digital bank, to offer digital asset services. Zand to leverage Taurus solutions Through the partnership, Zand will …
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Chainlink to handle on-chain NAV for Sygnum’s $50 million tokenized Matter Labs treasury
Fidelity International and Sygnum have partnered with Chainlink to bring Net Asset Value (NAV) data on-chain, as announced on July 3. This partnership marks showcases the potential advancement through tokenized assets, enhancing transparency and accessibility for fund data. Specifically, it will support Sygnum’s on-chain representation of units of Fidelity International’s $6.9 billion Institutional Liquidity Fund, …
Bitcoin correlation to S&P 500 goes negative indicating potential bottom
Quick Take Bitcoin (BTC) has often mirrored the S&P 500 (SPX), with periods of positive correlation in the past five years, notably during the COVID-19 pandemic in 2020 and 2021, where both assets traded nearly 1:1. This trend continued towards the end of 2021 and throughout 2022, as both BTC and the SPX declined in …
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KuCoin to enforce 7.5% VAT on Nigerian trades amid regulatory changes
Crypto exchange KuCoin said it would start collecting a 7.5% value-added tax on trading fees from its Nigerian users on July 8. According to a July 3 statement, the firm said: “Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (“VAT”) at a rate of 7.5% on transaction fees in each trade …
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Lido sees around 100k increase in staked Ethereum amid SEC scrutiny
Lido has reported a rise in staked Ethereum on its platform despite the US Securities and Exchange Commission (SEC) classifying its staking programs as securities in its lawsuit against Consensys. Staked Ethereum increase A July 2 report showed that Lido users staked an additional 95,616 ETH between June 24 and July 1. This increased the …
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Layerzero Integrates Flare, Enabling Connectivity to 75 Blockchains
Layerzero has integrated with Flare, a layer one (L1) blockchain, to connect it with 75 other blockchains. This integration aims to broaden the scope of decentralized applications (dapps) and improve data sharing across networks. Flare and Layerzero Partnership Aims to Enhance Dapp Accessibility According to an announcement shared with Bitcoin.com News, this integration represents an …
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Bitcoin Market in Flux: Glassnode Analysis Highlights Key Insights
Despite Bitcoin’s sideways price action, market profitability remains strong, according to a recent report by onchain analysis firm Glassnode. The report highlights significant trends in investor behavior and market conditions that may signal future volatility. Amid Market Fear, Bitcoin Investors Hold Substantial Gains As Bitcoin trades in the $60,000 range, Glassnode noted a palpable fear …
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Marathon Digital Reports Increase in Hashrate, Holds 18,536 BTC
Marathon Digital Holdings, Inc. released its unaudited bitcoin production and miner installation updates for June 2024. The company’s operational hashrate increased slightly, and its bitcoin holdings reached 18,536 BTC. Marathon Digital Reports June 2024 Bitcoin Production In June 2024, Marathon‘s (Nasdaq: MARA) average operational hashrate grew by 2% month-over-month to 26.3 exahash per second (EH/s). …
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