Day: December 22, 2021

Jack Dorsey Disses Ethereum, Web3 In Twitter Rampage

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Twitter ex-CEO Jack Dorsey has admittedly never been a fan of Ethereum and has been quite open about his stance on the cryptocurrency. Dorsey has always been a Bitcoin maximalist through and through, showing support for the pioneer cryptocurrency at every turn. Even going as far as stepping down as Twitter CEO to focus more on Block, a venture which focuses solely on building with bitcoin. Despite being vocal about not being a supporter of ethereum, Dorsey does get asked a fair bit what he thinks about the asset and…

Uniswap Launches on Polygon, Driving MATIC to All-Time Highs

Popular decentralized exchange Uniswap and Ethereum scaling solution Polygon announced that all Uniswap V3 contracts are officially deployed to the Polygon mainnet on Wednesday, a few days after UNI holders voted to pass a governance proposal to do so. Amid the latest development, prices of MATIC and UNI were both in the green, with MATIC, the native assets of the Polygon network, hitting a fresh all-time high of $2.66 earlier today. “Ethereum introduced a noble vision of an open, borderless economic system accessible to everyone,” Mihailo Bjelic, co-founder of Polygon…

Uniswap Launches on Polygon Driving MATIC to All-Time Highs

Popular decentralized exchange Uniswap and Ethereum scaling solution Polygon announced that all Uniswap V3 contracts are officially deployed to the Polygon mainnet on Wednesday, a few days after UNI holders voted to pass a governance proposal to do so. Amid the latest development, prices of MATIC and UNI were both in the green, with MATIC, the native assets of the Polygon network, hitting a fresh all-time high of $2.66 earlier today. “Ethereum introduced a noble vision of an open, borderless economic system accessible to everyone,” Mihailo Bjelic, co-founder of Polygon…

Growth Of Bitcoin ETFs & Other Instruments Doesn’t Support Supply Shock Narrative

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Data shows while the Bitcoin supply present on exchanges has been trending down, growth in other investment vehicles like ETFs and WBTC has been making up for this drop. Bitcoin Exchange Reserves Decline, But ETF And Other Instruments Enjoy Growth As per the latest report from Arcane Research, BTC exchange reserves have seen significant decline this year, but the growth in newer investment instruments like ETFs has made up for it. The “exchange reserve” is an indicator that measures the total amount of Bitcoin currently stored in wallets of all…

Turkish Lira Slump Contributes to Rise in Turkey’s Daily Crypto Trades to Over One Million – Economics Bitcoin News

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The popularity of cryptocurrencies in economically embattled Turkey has continued to surge with the number of daily trades now surpassing one million, a report has said. This surge in trades has been attributed to the depreciating lira which plunged to a new low against the USD on December 20. Lira Plunges Cryptocurrency trades in inflation-stricken Turkey have surged to above one million per day for the first time since March, a Reuters report citing Chainalysis and Kaiko data has said. According to the report, the return to over a million…

Hive Blockchain on track to mine more Bitcoin, less Ether this quarter

Publicly traded crypto mining firm Hive Blockchain is expecting to produce 6,900 Ether (ETH) and 670 Bitcoin (BTC) for the fiscal quarter ending on Dec. 31, marking a respective drop and increase over that of the previous quarter. In a Wednesday notice to shareholders, Hive said it had mined 6,280 Ether from Oct. 1 to Dec. 21, and was on track to mine more than 65 ETH daily for the remainder of 2021. This projected total — 6,900 ETH — would represent a decrease of more than 20% from the 8,688 ETH…

Market Gets Cozy With Bitcoin? Why BTC Is Set For A Short Squeeze

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Trading at $48,747 with a 1.1% profit in the past day, Bitcoin remains rangebound. The first crypto by market cap has been unable to break from the $45,500 to $49,500 channel in the last 7-days, but a combination of factors could increase volatility soon. BTC moving sideways in the 4-hour chart. Source: BTCUSD Tradingview Related Reading | TA: Bitcoin Gains Momentum, Why Rally Isn’t Over Yet NewsBTC has been reporting on the possibility of a short squeeze for Bitcoin. The recent price action was most likely the result of the…

Bored Ape Yacht Club NFTs catch up to CryptoPunks, flips floor price

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The price of the cheapest Bored Ape NFT for sale is now 53.9 Ether (ETH), or $215,067, while the minimum asking price for a CryptoPunk is 52.69 ETH, which is currently worth $210,239, according to OpenSea. All month long there has been speculation about the possibility of Bored Ape flipping CryptoPunks in terms of NFT floor price. Earlier this week, Cointelegraph did a deep dive into the potential factors that could affect the value of one collection over the other. Whether owners had a preference for intellectual property rights or over…

What Is Loopring and What’s Driving Its Rise?

You may have heard of other blockchains, such as Avalanche and Solana, that also claim to be faster and cheaper than Ethereum. However, unlike Loopring, these are known as layer 1 blockchains. This simply means they are independent blockchains with their own validators, just like Ethereum. Source

Scalability or stability? Solana network outages show work still needed

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Solana is a highly scalable decentralized blockchain developed with a unique method of ordering transactions that significantly improves its transaction throughput, to the point that it has consistently been processing over 2,500 transactions per second. It claims to be able to process 50,000 transactions per second. The power of Solana’s cheap transactions is felt when it’s time to pay transaction fees, with users being able to move funds on the network for a fraction of a cent. By comparison, the average transaction fee on the Bitcoin network is around $1.80, even after…