The Ethereum network will undergo a major upgrade on Aug. 4, as the long-awaited London hard fork is expected to launch at block 12,965,000. The transition is part of a roadmap leading to the Ethereum 2.0 release, which aims to migrate the network to a proof-of-stake consensus mechanism. By no longer depending on the intense …
Category archives: Trending Crypto news
Santander’s UK arm follows Barclays in banning payments to Binance
Spain-based bank Santander’s U.K. business will no longer be allowing its customers to send payments to Binance, citing warnings from the Financial Conduct Authority. Several replies from Santander’s U.K. Twitter help account today said the bank has “decided to prevent payments” to the world’s biggest crypto exchange in an effort to prevent fraud. The bank …
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Balancer launches stable pools for like-kind swaps
Balancer, a popular automated market maker for cryptocurrencies, has launched a new protocol feature designed to lower fees and improve the trading execution for like-kind waps. Stable pools “are designed specifically for assets that trade at a similar price,” wrote Fernando Martinelli, the co-founder and CEO of Balancer Labs. As such, the pools increase capital …
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Goldman Sachs Analyzes Ethereum, Says Second-Largest Crypto Asset May Pose Serious Challenge to Bitcoin
Goldman Sachs says that Ethereum (ETH) could replace Bitcoin (BTC) as the dominant digital store of value. In a new note to clients, the financial giant says that while BTC has the stronger brand, Ethereum likely has the highest number of real use cases, reports Business Insider. ADVERTISEMENT But the bank does not see …
Bitcoin’s Legal Tender Status in El Salvador May Invite Sanctions, Says Top Economist – Here’s Why
Steve Hanke, a professor of applied economics at John Hopkins University, says that El Salvador’s adoption of Bitcoin as a legal tender places the country at risk of sanctions. ADVERTISEMENT Hanke, who is also the director of the Troubled Currencies Project at the Cato Institute in Washington D.C., says that the step El Salvador …
Thailand’s central bank warns against using digital currencies for payments
The Bank of Thailand has issued a warning to crypto holders who use their digital assets as a medium of exchange, saying if these practices become widespread it may take strong regulatory measures. In a Thursday statement, the central bank said anyone who engaged in the trade of digital assets for goods and services, as …
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Bitcoin electricity consumption falls to November 2020 levels: Data
Bitcoin’s total estimated annual electricity consumption has plummeted nearly 60%, falling from the all-time peak above 143 terawatt-hours (TWh) in May to as low as 62 TWh in early July, according to data from Cambridge Bitcoin Electricity Consumption Index (CBECI). This is the lowest energy consumption rate recorded since early November 2020. At the time …
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Highly Anticipated Ethereum Hardfork Locked In for Launch
The highly anticipated London hard fork designed to overhaul the controversial Ethereum fee structure is rolling out soon, according to a project team member. Tim Beiko, the lead coordinator of several Ethereum upgrades, says the hard fork should land on August 4th. ADVERTISEMENT EIP-1559 is one of many upgrades that will make up the …
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Airbnb is exploiting its users, but decentralized alternatives are possible
Anybody who uses Airbnb knows that the company is resting on its laurels as the first mover in the home-sharing economy 1.0, but its dominance rests atop exploitation of the hosts and guests that are actually doing the sharing and creating the value. The guests pay too much and the hosts are paid too little. …
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Is this the most annoying — or valuable — man in DeFi?
Even Chris Blec’s biggest supporters acknowledge he can be as subtle as a sledgehammer when he’s pushing for transparency from DeFi projects on Twitter. The founder of DeFi Watch puts noses out of joint across the industry — whether he’s hammering Polygon for putting billions in the hands of two developers with admin keys or …
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Bitcoin price at risk of $30K retest following bearish triangle breakdown
Bitcoin’s (BTC) price looks poised to retest $30,000 as traders continued to pull back from upside bets on a spell of a bearish technical pattern. Dubbed as a Symmetrical Triangle, the structure forms when an asset fluctuates between two converging trendlines. In doing so, the asset rebounds after testing the Triangle’s lower trendline as support …
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Fiat-to-crypto onramp Simplex integrates SEPA Instant for European partners
Cryptocurrency payment provider Simplex has added SEPA Instant to its list of payment methods, giving European partners the ability to move funds into digital assets with greater ease and flexibility. SEPA stands for Single European Payment Arena, which enables payment harmonization across the European Union. With SEPA Instant, credit transfers are processed and settled within …
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Five-Year Game Plan for Cardano Unveiled, Targeting Banks and Fortune 500 Companies
The CEO of the Cardano Foundation, Frederik Gregaard, says onboarding mainstream financial institutions and large corporations is part of a five-year growth strategy for the fifth-largest blockchain project by market cap. Gregaard says the Swiss-based foundation, which is responsible for overseeing and supervising the growth of Cardano, is looking to partner with mainstream financial institutions …
Korean investigation finds $1.48B in illegal overseas crypto transactions
An interagency investigation into suspected crypto fraud and money laundering in South Korea has led to the discovery of 1.69 trillion won (about $1.48 billion) in illegal overseas cryptocurrency transactions. According to The Korea Times, 33 people have been implicated by the Seoul Central Customs for contravening the country’s ban on overseas crypto trading. Detailing …
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Bitcoin price will likely shrug off $530M GBTC unlock in July — analysis
Bitcoin (BTC) will not move much after Grayscale’s giant 16,000 BTC unlocking date after all, says crypto trading firm QCP Capital. In its latest market update released on July 8, analysts downplayed the popular theory that GBTC will cause BTC price volatility in the coming weeks. No “significant impact” expected from GBTC As Cointelegraph reported, …
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