August 7, 2023

Short Bitcoin Outflows Halt for the First Time in 14 Weeks: CoinShares Report

The summer period’s lackluster trading activity is evident as digital asset investment products recorded outflows of $107 million this week. The profit-taking has gathered tremendous pace lately, with weekly trading volumes in investment products 36% below the year-to-date average. The wider on-exchange market has experienced a more significant decline, with volumes down 62% relative to...
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Cardano Records Impressive 49% QoQ Growth in Dapp Transactions; 10% Rise in TVL: Report

Cardano (ADA) has shown promising indications of growth in Q2 despite lackluster market activity. Emerging infrastructure such as stablecoins, programming languages, and wallets are helping Cardano developers to craft advanced applications enriched with enhanced user experiences, according to a new report by Messari. The blockchain intelligence platform reported that the Cardano ecosystem has managed to...
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MakerDAO’s Spark Protocol Blocks VPN Use; Privacy Advocates Cry Foul

MakerDAO’s recently launched lending platform, Spark Protocol, has courted significant backlash over its decision to ban VPN users on the front end. The initial motive was to prevent US-based users from accessing the platform. But it prohibits anyone from using a VPN regardless of whether or not they are situated within the US. This has...
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71-Year Old Israeli Lady Who Made 100X on Her BTC Investment Dismisses Lawsuit Against Uncooperating Local Bank

Esther Freeman – a 70-year-old Israeli resident who turned a $3,000 BTC investment into over $320,000 in 2021 – has terminated the legal battle with Bank Hapoalim. The latter was unwilling to accept her crypto profits, casting doubts on the source of the funds she used to hop on the Bitcoin bandwagon. Her investment is...
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Litecoin Price Analysis: Analyst Identifies Crucial Support Level Amid Bearish Sentiment

After the Litecoin bulls fell short in capitalizing on the recent halving event, a surge in bearish sentiment has taken hold. Noted analyst Crypto Tony anticipates that Litecoin’s price could find a temporary support level around $65, presenting an attractive short-entry opportunity. It’s worth noting that this setup might be invalidated if the LTC price...
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Over $200 Million Worth of Major Tokens to be Unlocked This Week: What You Need to Know

Crypto tokens worth upwards of $212 million are set to unlock this week. According to the latest data, five projects – Dao Maker (DAO), STEPN (GMT), Internet Computer (ICP), BitMEX (BMEX), Aptos (APT), The Sandbox (SAND), according to data compiled by DropsTab. The token unlocks could potentially create some significant sell pressure. Token Unlocks: Weekly...
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Kenyan Police Raided Worldcoin Warehouse in Nairobi: Report

Kenyan police officers have reportedly raided a warehouse belonging to the recently launched crypto project Worldcoin, carting away documents and machines for investigative purposes. According to a report by local media KahawaTungu, police officers showed up at the Nairobi-based warehouse over the weekend with a search warrant and multi-agency officials. They left with equipment believed...
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CryptoMinerBros Celebrates 5 Years of Building the Future in the Crypto Mining Community

[Press Release – Kowloon city, HongKong, August 7th, 2023] Founded in August 2018 and headquartered in Hong Kong, Crypto Miner Bros has become one of the leading crypto mining hardware distributors within five years of its launch. With a dedicated team of blockchain experts, e-commerce specialists, and crypto mining professionals, Crypto Miner Bros has become...
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PayPal Launches USD Stablecoin For Payments and Transfers

Global payments giant PayPal has deepened its footsteps into the crypto industry by launching a dollar-backed stablecoin dubbed PayPal USD (PYUSD). The move makes PayPal one of the first large U.S. financial companies to launch its own stablecoin despite regulatory uncertainty around crypto assets in the country.  As a USD-pegged stablecoin, PayPal USD maintains a...
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Here’s a List of Some of the Tokens the SEC Has Called a Security so Far

The cryptocurrency data aggregator CoinGecko added a new section on its website showing the top 48 crypto assets deemed securities by the US SEC.  The combined market capitalization of those digital currencies is currently over $91 billion, representing 7.5% of the whole $1.21 billion cap.  CoinGecko introduced a new index that tracks the performance of some...
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Singapore’s MAS will Invest up to $111 million in the Fintech Innovation Scheme!

The Monetary Authority of Singapore (MAS) will invest up to S$150 million ($111 million) in its Financial Sector Technology and Innovation Scheme (FSTI 3.0) to support projects in the field of cutting-edge technologies or solutions developed for the region. FSTI 3.0 will include three new tracks, including enhanced mentoring for start-ups, a focus on environmentally,...
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Elon Musk’s Favorite Crypto Will be on X, Even if There Will be no X Coin

Responding to a Dogecoin influencer warning about scam coins, Elon Musk said Friday that X will never launch a token. And we never will — Elon Musk (@elonmusk) August 5, 2023 While that may be so, make no mistake about it — crypto and finance feature heavily in Musk’s plans for X.com. He recently teased...
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Drivechains

Abstract: In this piece we evaluate Paul Sztorc’s BIP-300 and BIP-301 Drivechain proposals. We assess the sidechain peg-out system and the benefits of blind merge mining. In particular we discuss some of the Bitcoin mining economic and incentive arguments around sidechains. There are potentially higher mining costs associated with merge mining and the claim that...
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Chancer Announces BitMart Exchange Listing as Presale Races Past $1m Mark

[Press Release – London, United Kingdom, August 7th, 2023] Chancer, one of the most exciting new crypto projects in 2023, has raced past the significant $1 million fundraising milestone. This coincides with the announcement that their first exchange listing will take place on BitMart – a hugely popular exchange with users in over 180 countries...
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Bitcoin (BTC) $ 97,439.11 4.18%
Ethereum (ETH) $ 3,131.79 0.25%
Tether (USDT) $ 1.00 0.10%
Solana (SOL) $ 241.61 1.36%
BNB (BNB) $ 609.33 1.07%
XRP (XRP) $ 1.13 1.90%
Dogecoin (DOGE) $ 0.382437 2.66%
USDC (USDC) $ 0.999976 0.07%
Lido Staked Ether (STETH) $ 3,128.67 0.26%
Cardano (ADA) $ 0.776893 7.74%