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Binance CEO called DeFi one of the most innovative spaces in the FinTech market, however, added that it is relatively a very new sector and investors should weigh the risks as many DeFi projects are likely to fail. Decentralized Finance (DeFi) is one of the fastest-growing sectors of the FinTech industry. Over the last few weeks, the DeFi activity on the Ethereum blockchain has surged massively. Besides, the exploding price value of cryptocurrencies like Chainlink (LINK) has pushed the DeFi market cap over $15 billion. Recently, Changpeng Zhao, CEO of…
The price of Bitcoin (BTC) has increased from $9,088 to $11,800 since July 1 by more than 30%. With it, the volume of top-tier cryptocurrency exchanges has surged to a staggering $334 billion. A report from CryptoCompare released by Bitcoin futures exchange BitMEX says: “In July, Top-Tier volumes increased 42.1% to $334bn while Lower-Tier volumes decreased 38.1% to $224bn. Top-Tier exchanges now represent 60% of total spot volume.” The $334 billion figure does not account for the so-called “lower-tier” exchanges, as described by the researchers. The volume of top-tier exchanges…
Bitcoin’s hash rate has soared to record highs, some analysts say it might kick the price out of its rut. Original
The Blockchain Education Alliance launched by blockchain accelerator MouseBelt has gained several noteworthy new members. Ashlie Meredith, the head of education for MouseBelt Blockchain Accelerator, told Cointelegraph on Aug. 17 that the new members include brewing company Anheuser-Busch InBev, Dutch bank ING, cryptocurrency exchange Multi.io, and luxury car company Rolls Royce. The addition of these firms makes 26 current members in the organization. According to MouseBelt, these companies have been utilizing blockchain technology for up to five years. Blockchain Education Alliance was involved in a three-day conference which streamed nonstop…
Chiliz.net and Socios.com, a major industry tandem specializing in blockchain-based fan tokens, are rolling out their Visa debit card. As officially announced on Aug. 14, the Socios.com Visa debit card allows global fans to “be more than a fan” — earn fan tokens-powered financial rewards and club-related benefits from making purchases through the card. Alexandre Dreyfus, CEO at Chiliz and Socios, told Cointelegraph that the new debit card is now being tested by a limited pool of users. According to the executive, the Socios.com visa debit Card will roll out…
In 2013, Vitalik Buterin released the Ethereum Whitepaper, describing a “Next-Generation Smart Contract and Decentralized Application Platform” that was also termed a “world computer.” A year later, US$18.4 million was raised by Buterin in an ICO, and by January 2018 the market cap of Ethereum climbed to a staggering $100 billion. This meteoric rise has as much to do with philosophy as it does with technology. Ethereum has captured the imagination of an emerging class of crypto-natives, looking to redistribute power away from centralized organizations. The platform became the driving…
CryptoCompare’s cryptocurrency Exchange Review for July 2020 has recently been published, giving an insight into last month’s exchange volume data and trends. Key points of interest include a flippening of sorts in the spot market, with the majority of volume now being traded on top-tier rather than lower-tier exchanges, and derivatives continuing to make ground on spot markets as they gain overall market share. As Cointelegraph reported, CryptoCompare also publishes an Exchange Benchmark, which ranks more than 165 global spot exchanges. Exchanges which are graded AA–B are considered top-tier, while…
Big corporations have chipped in the Bitcoin mining game as America’s crypto mining company Marathon Patent Group enters long-term purchase agreement with China’s mining manufacturer Bitmains for its next-generation S-19 Pro Miners. As per the latest information from Blockchain.com Bitcoin (BTC) seven-day average hash rate has reached a new record-high of 129.075 TH/s. The previous record of the BTC network was just 15 days back on July 29. The hash rate is the measure of computing power required to mine and add new blocks in the Bitcoin network. It also…
XRP has been performing well over recent weeks, shaking off the multi-year bear market that it went through. Since the start of July, the leading cryptocurrency has gained around 50% against the dollar, outperforming Bitcoin. Although XRP is far from the best performing altcoin, analysts say the asset is cleared to move higher. There is one analyst, who heads the technical analysis team at a prominent crypto research company, that argues that XRP is at the start of a bull run. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi…