Well-known online cryptocurrency analyst Altcoin Sherpa spoke about the future value of several virtual assets in the market. He predicted that the price of Ethereum (ETH), Axie Infinity (AXS), and LooksRare (LOOKS) would rise more than others as the market recovers. In his opinion, the Ethereum rate can still add from 30% to 50%, even though it...
Representatives of the KuCoin exchange have officially confirmed that they have become the first cryptocurrency trading platform to launch non-fungible token exchange-traded funds (NFT ETFs) successfully. Two days after the product launch, analysts noted retail investors' high interest in owning parts of extensive collections of digital art. The ETFs are currently linked to five highly...
Latin American media reported on the opening of the "Bitcoin Valley" (Bitcoin Walley) in Honduras. The government has launched a digital city project in the Santa Lucia region. Thus, the country joins its neighbors who have already launched a similar initiative in Central America - Bitcoin Beach in El Salvador, Bitcoin Lake in Guatemala and Bitcoin Jungle...
Popular data aggregator Glassnode reported that the second largest cryptocurrency, Ethereum, has become the subject of massive interest from traders and is facing an influx of new small and medium-sized investors. This comes after the price of the coin has risen by more than 30% in the last few days as of July 30, 2022. Thanks to...
The adoption of bitcoin as a legal tender has benefited El Salvador despite the fall in the price of the cryptocurrency. Finance Minister Alejandro Celaya announced this to Bloomberg. According to him, the introduction of digital currency has expanded access to financial services to a largely unbanked population and attracted tourists and investments. The minister admitted that the use of bitcoin...
Mining equipment manufacturer Canaan plans to open a cryptocurrency mining facility in the United States. This was announced by the company's vice president, Edward Lu, in an interview with Forkast . “Right now, the real revenue from solo or collaborative mining comes from Kazakhstan, but you will see other markets soon,” Lu said. The firm launched bitcoin mining in the Central...
Crypto financial services provider Babel Finance suffered a loss of over $280 million due to unsuccessful trading decisions with client funds. The calculations are given in the restructuring proposal, writes The Block. “During that volatile week in June when Bitcoin plummeted from $30,000 to $20,000 , unhedged positions in [own trading] accounts led to significant losses. As a result, a...
The developers of Arbitrum 's Layer 2 (L2) scaling solution have begun testing the Nitro update, designed to reduce transaction fees and increase throughput. If the tests on the Rinkeby testnet are successful, the project team will deploy the update to the leading network within two weeks. The WebAssembly Transaction Authentication System (WASM) is at the heart of Nitro....
The efforts of the EU authorities in regulating cryptocurrencies may lead to the imposition of a European model, which will damage the ability of US supervisors to create their own rules effectively. This opinion was expressed by the former chairman of the CFTC, Christopher Giancarlo, who writes CoinDesk. The former official referred to the MiCA Cryptocurrency Regulation Bill, which...
The Fed and FDIC sent a letter to Voyager Digital demanding they provide a complete list of all statements regarding state insurance of crypto broker deposits within 10 days. Seth Rosebrockfrom and Jason Gonzalez, assistant legal counsels for the two agencies, also urged management to submit a written confirmation of compliance with the regulator's requirements within two business...
