USD Coin (USDC), Circle’s dollar-pegged stablecoin, seemingly lost one of its biggest competitive advantages over its rival, Tether (USDT). Major crypto exchange Coinbase made an important change on the USD Coin page on its website following an audit which revealed that not all of USDC’s reserves were held in cash. This rain contrary to the …
Continue reading “Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin”
Bitcoin (BTC) reserves on derivatives exchanges have dropped to levels last seen before the May price crash. Data from on-chain analytics service CryptoQuant confirmed that as of Tuesday, derivatives reserves totaled 1.256 million BTC — the least since May 11. Institutions repeat Q4 2020 Against a backdrop of institutional interest returning to cryptocurrency instruments such …
Continue reading “Institutions are buying Bitcoin like it’s late 2020”
A popular crypto analyst says Bitcoin and Ethereum can pull off massive rallies before the end of 2021 as traders underestimate the second leg of the bull market. Justin Bennett tells his 61,600 Twitter followers that he expects Bitcoin to launch a staggering rally, well above the six-figure level, should the leading cryptocurrency shatter its …
Leaders in the crypto industry continue to speak up as the bipartisan $1 trillion infrastructure bill, known for implementing tighter rules on crypto businesses and expanding reporting requirements for brokers, passed the United States Senate. Billionaire investor and Bitcoin (BTC) proponent Mark Cuban is one of them. Speaking to The Washington Post over the weekend, …
Continue reading “Mark Cuban likens shutting off crypto growth to stopping e-commerce in 1995”
On July 29, Cointelegraph reported that provisions had been hastily added to the infrastructure bill that sought to raise $28 billion through expanded taxation and impose stringent third-party reporting requirements for any entity deemed to comprise a cryptocurrency “broker.” The provision’s broad language sent shockwaves across the crypto community, with onlookers noting that software developers, …
Continue reading “US Senator claims support for crypto amendments despite blocking bill”
Shark Tank host Kevin O’Leary has become an official spokesman for Sam Bankman-Fried’s FTX crypto exchange and will be paid in crypto and receive equity as part of the deal. According to an Aug.10 announcement, the partnership with FTX Trading Ltd. and West Realm Shires Services Inc. (owners of FTX.US and FTX.com) will see O’Leary …
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A cryptocurrency enthusiast who exploited a bug in the ICON network to mint a large amount of its native ICX token can pursue entitlement claims according to a California federal judge. On Monday, Aug. 9, U.S. District Judge William H. Orrick said that the case raises novel questions about digital property. He added that plaintiff …
Continue reading “Man who minted 14M ICX tokens due to a bug can pursue lawsuit to keep them”
Paypal-owned payments firm Venmo has launched a new crypto ‘cash back’ feature that includes zero transactions on crypto purchases. According to an Aug. 10 announcement, Venmo’s “Cash Back to Crypto” service went live yesterday and enables credit card customers to spend their cashback rewards on digital assets hosted on the platform. Say hello to Cash …
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The theoretical deflationary properties of Ethereum’s London upgrade last week have already been seen in action on the blockchain with almost 800 “deflationary blocks” produced. A spike in the Ethereum transaction fee burn rate has resulted in at least two hours when the supply was deflationary. The network has come under heavy load over the …
Continue reading “Ethereum supply flips briefly into deflation as gas fees spike”
Coinbase generated $2.23 billion of revenue for the second quarter of 2021, as Ethereum (ETH) trading volume surpassed Bitcoin (BTC) for the first time on the platform. Coinbase posted its Q2 report on Aug. 10 and the crypto exchange’s revenue beat analyst predictions — with industry standard financial estimators Refinitiv forecasting $1.78 billion in expected …
Continue reading “Coinbase’s Q2 profits top $1.6B as ETH volume surpasses BTC’s for the first time”
Among the more than 11,000 listed cryptocurrencies exist a few projects that offer a revolutionary use case capable of improving the way society operates through the integration of blockchain technology. One such project is Helium (HNT), a decentralized peer-to-peer 5G wireless network that made headlines on Aug. 10 thanks to the successful completion of a …
Continue reading “Helium (HNT) gains 40% after $111M fundraise and 100K active nodes milestone”
Popular analyst Will Clemente says Bitcoin remains undervalued based on the strength of the leading cryptocurrency’s on-chain fundamentals. In his latest weekly overview, Clemente highlights two surging on-chain metrics, which he says are significantly outpacing the rise of BTC’s value. ADVERTISEMENT “In blue, illiquid supply shock ratio, which compares the movement of coins from …
Cardano (ADA) has been in the spotlight lately and this is partially because of its early 2021 price performance and the fact that its huge fan base has been anxiously awaiting the launch of the network’s smart contract capability in the upcoming Alonzo upgrade. While the rise of DeFi took place and the total value …
Continue reading “Cardano price is hot, but data shows pro investors haven’t warmed up yet”
Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago. According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH) …
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The non-fungible token (NFT) marketplace OpenSea is shattering its previous transaction volume records as NFTs continue to take off. OpenSea processed about $78.8 million in transaction volume on August 8th, smashing the previous record set only two days prior of nearly $70.5 million, according to blockchain research tool Dune Analytics. ADVERTISEMENT By comparison, OpenSea …
Continue reading “NFT Marketplace Reaches $78,000,000 in Daily Volume, Shattering All-Time High”
