Transaction fees on the Bitcoin network have continued to decline months after its latest peak during the halving event. Data from IntoTheBlock shows that fees on the leading crypto network have decreased by 18% this week after dropping 27% from the previous one. The continuous decline has placed Bitcoin fees at their lowest since November...Read More
Wallets linked to the CoinStats exploiter recently moved almost $1 million in Ether into the controversial crypto mixing protocol Tornado Cash. The latest development comes less than a week after the leading crypt tracker said that investigations are underway. Tornado Cash Inflow Blockchain security firm CertiK flagged that two wallets associated with the CoinStats exploit...Read More
Ethereum 2.0 staking has seen significant growth, and a major milestone has been reached. As such, the deposit contract for staking Ethereum on the Beacon Chain reached an all-time high of 47.36 million ETH this week. Interestingly, this accounts for 33.9% of the entire Ethereum supply. ETH2 Staking Milestone According to the data shared by...Read More
The MiCA regulation has created an increased demand for compliant stablecoin, with Circle’s USDC emerging as a primary beneficiary of the trend. In fact, USDC is leading the demand for regulated stablecoins, according to French blockchain analytics firm Kaiko. Increased Demand For USDC After MiCA In its latest report, Kaiko revealed that non-compliant stablecoins account...Read More
Private key leaks were identified as the leading cause of crypto thefts in the second quarter of 2024 by cybersecurity firm SlowMist’s investigative branch, MisTrack. The report highlighted many instances wherein users stored their private keys or mnemonic phrases in cloud storage services like Google Docs, Tencent Docs, Baidu Cloud, and Shimo Docs. Private Key...Read More
After a decade of waiting, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. However, it appears that market players are on edge regarding the distributions and fear further sell-offs. It is important to understand that Bitcoin has already been on a decline since the beginning of June and has...Read More
The US spot Bitcoin ETFs experienced a net outflow of $20.45 million on Wednesday. Interestingly, only two of them showed activity amid market uncertainty. Grayscale’s GBTC saw a $26.99 million exit, while Fidelity’s FBTC gained $6.55 million. The remaining nine funds, including BlackRock’s IBIT, Bitwise’s BITB, and VanEck’s HODL, reported no flows. US Bitcoin ETFs’...Read More
Binance.US said that it is prepared to defend itself against the US Securities and Exchange Commission after a court ruled that the regulatory agency’s case against the crypto exchange could continue. In its official statement on X, the US arm of crypto giant Binance affirmed that the “fight continues.” Binance.US Slams SEC’s Enforcement Tactics The...Read More
Losses from hacks and rug pulls in 2024 year-to-date amount to over $473 million across 108 incidents, according to Immunefi’s latest data. This marks a 20% decrease compared to the same period in 2023, which saw losses of more than $595 million. In May 2024, victims of hacks and fraud lost $52.4 million across 21...Read More
Free speech champions across the world celebrated earlier this week as Julian Assange – founder of WikiLeaks – was finally released from a UK prison after five years behind bars. During his more than decade-long legal battle to escape persecution from multiple national governments, Assange often leaned on crypto to drive global fundraising campaigns to...Read More
On June 25, the ECB published an update on its two-year preparation phase for the digital Euro CBDC that ends in October 2025. The central bank said that privacy and data protection are its top priorities, but there are a number of disturbing features to the currency that would result in the total opposite. On...Read More
Crypto market intelligence provider IntoTheBlock published a report on Thursday comparing the best risk-adjusted methods to earn yield in the world of decentralized finance (DeFi). Despite the “nearly infinite number of composable strategies” the firm claims its most optimal to stick to “straightforward strategies,” that boil down to “only a handful of different primitives.” The...Read More
Ethereum core developer Tim Beiko reported that the Ethereum Foundation’s mailing list was leaked due to a vulnerability in SendPulse, the email automation service used by the foundation. An attacker exploited this to send phishing emails from updates@ethereum.org to subscribers. The foundation has since restricted access to the mailing list, according to the latest update...Read More
Grayscale’s GBTC has dominated in the recent wave of outflows from US spot Bitcoin ETFs, which collectively recorded a total daily net outflow of $174.45 million on Monday. This marked a week of consecutive negative flows, with Grayscale’s GBTC alone accounting for $90 million of the outflows. No Inflows Across Spot Bitcoin ETFs Interestingly, BlackRock’s...Read More
HashKey Group, a leading end-to-end digital asset financial services group in Asia, announced the upcoming public community airdrop and listing of its new native token, HSK, which is set to be unveiled in Q3 2024. The statement notes that the new HashKey native token HSK will earn applications within the entire HashKey group ecosystem and...Read More
A popular New York-based crypto exchange, Uphold, announced the delisting of six stablecoins in response to the upcoming MiCA regulation in the European Union, including Tether (USDT) – the largest of the cohort. This decision aligns with the Markets in Crypto Assets (MiCA) regulation, which fully takes effect on June 30th, 2024. Passed into law...Read More
The crypto market is in the red amid significant bloodshed from bitcoin (BTC) and altcoins. There is currently no bullish momentum, and BTC is hovering around key levels, falling below traders’ on-chain realized price of $65,800. Regardless, CryptoQuant analysts insist in a recent report that the market is in a bull season. Lack of Bullish...Read More
There has been increased speculation over a Bitcoin miner capitulation as hash rate increases slow down, operational costs increase, and the asset price continues to fall. Analyst James Check assessed miner-side sell pressure to determine the severity of the miner selloff in a video on June 21. Miners selling after a halving event and the...Read More
According to Token Terminal data, the monthly stablecoin transfer volume surged to over $1.68 trillion in April, marking a significant increase from the $100 billion recorded in October 2020. This 16-fold rise highlights the potential of stablecoins in enhancing financial processes and facilitating cross-border transfers. Record-Breaking Stablecoin Volumes In a recent post on X, Token...Read More
Two individuals were detained and questioned by the UK Metropolitan Police and the Financial Conduct Authority (FCA) for allegedly running an illegal cryptocurrency operation exceeding 1 billion British pounds ($1.2 billion) in the region. The FCA emphasized key registration requirements for crypto businesses and issued consumer warnings. Suspects Arrested and Questioned According to the Financial...Read More
The world’s number one and two leading cryptocurrencies by market capitalization, daily transaction volume, and crypto exchange volume have almost perfectly tied for ROI from Jan. 1 through the middle of June. For comparison, the S&P 500 Index notched up nearly 15% over that same period. But that’s more than the broad stock market benchmark...Read More
The AVAX native token for the layer-1 blockchain Avalanche is in severe pain this weekend, slumping more than 10% at one point in a fall to its lowest level since December 2023. Over the past 24 hours, the token has crashed from $27.87 to an intraday and six-month low of $24.92, according to CoinGecko. Moreover,...Read More
The 24-hour trading volume of Tether (USDT) reached $53 billion on the TRON network, surpassing payment giant Visa’s average daily trading volume of $42 billion for Q1, 2024. This comparison is particularly important given Visa’s stature as one of the world’s largest payment processors, managing billions of transactions across more than 200 countries and regions....Read More
Bitwise, a U.S. spot Bitcoin ETF issuer, predicted that the combined forces of the cryptocurrency industry and artificial intelligence (AI) could inject $20 trillion into the global GDP by 2030. The forecast was made at an annual Consensus conference in Austin, where industry leaders gathered to discuss the future of blockchain, regulation, and the vast...Read More
Events in the saga between Nigeria and Binance continue to unfold. This time, the country dropped tax charges against the exchange’s executives. According to a tweet by Nigerian journalist Alexander Onukwue, the Federal Inland Revenue Service (FIRS) of Nigeria has withdrawn the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and...Read More
Bitcoin fell to a monthly low of $65,000 on June 14 and is currently down around 5% since the same time last week. However, zooming out to view the bigger picture shows that the asset is still consolidating where it has been since early March. “Bitcoin very rarely goes this quiet,” commented analyst James Check...Read More
Bitcoin (BTC) has fallen 4.5% in the past seven days, going to a monthly low of $65,000. This plunge in the digital asset’s value could be linked to increased selling from mining entities. In the latest CryptoQuant weekly report, analysts revealed that the number of BTC sent from Bitcoin mining entities to exchanges has reached...Read More
Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million. The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since...Read More
KuCoin exchange’s research arm released a report on cryptocurrency performance in May, noting $1 billion in new investments – a slight decrease from April. The report highlighted that institutional investors predominantly favored Ethereum and EVM-focused platforms during this period. $1 Billion in Investment Earlier this week, KuCoin Research published a report indicating that in May...Read More
Blockchain intelligence firm TRM Labs has revealed that cryptocurrency deposits into crypto addresses linked to Chinese drug precursor manufacturers more than doubled in the first four months of 2024 compared to the same period in 2023. In 2023, Chinese precursor networks received over $26 million in cryptocurrency, with 97% of the over 120 manufacturers studied...Read More
