Day: June 8, 2022

Despite bearish trend, hedge funds are dipping their toes in crypto: PwC

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Traditional hedge funds are slowly embracing cryptocurrency investments but are keeping their exposure limited as the market continues to mature, according to new research from PricewaterhouseCoopers, or PwC. In its 4th Annual Global Crypto Hedge Fund Report 2022, PwC said roughly one-third of traditional hedge funds surveyed are already investing in digital assets such as Bitcoin (BTC). So-called “multi-strategy” hedge funds were most likely to invest, followed by macro strategy and equity strategy firms, respectively. Of the hedge funds currently invested in the crypto space, 57% have allocated less than…

New NFT Marketplace, myNFT, Seals $7m in Funding to Make NFTs Accessible to All – Press release Bitcoin News

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press release PRESS RELEASE. New London-based NFT marketplace platform, myNFT, has announced its upcoming launch with the news that it has received Series A funding from some of the most prominent investors in the blockchain industry. myNFT believes that the current NFT industry is filled with barriers, blocking this revolutionary technology from being accessible to everyone. Their core mission is to change this in ways that no other platform has done before – lowering costs, and supporting multi-chain payment methods, including fiat and many more features. The platform is built…

Bitcoin Miner Revenues Stay Low As Price Decline Continues

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Bitcoin miners have been one of the worse-hit following the decline in the price of the digital asset. After what can be said to be a wonderful run towards the end of 2021, the miners have now hit a rough patch where their revenues have been dropping. The previous week would prove to be no different, signaling a continuation of lower cash flow on the part of miners, as the daily miner revenues remain depressed in the first week of June. Bitcoin Miners Take A Hit Bitcoin miners have not…

Galaxy’s Novogratz Stays Optimistic on Crypto Adoption Even as Markets Languish

For crypto and equity markets, Novogratz isn’t banking on a V-shaped recovery. Instead, he predicts a combination of market bottoms, ups-and-downs and sideways movement until a “new narrative emerges” on the macro economic environment and interest rates. The U.S. Federal Reserve increasing interest rates to lower inflation is causing hiccups and unpredictability in economic models, he said, adding that he’s “preparing for kind of a longer battle.” Source

Circle Announces the Stablecoin USDC Is Now Supported by the Polygon Network – Altcoins Bitcoin News

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Circle, the issuer of the stablecoin usd coin (USDC), announced that the project is now supported on the Polygon network. The stablecoin with the second-largest market capitalization can now be withdrawn via a Circle Account and Circle APIs without the need for manual cross-chain bridge technology. Circle Reveals Polygon-Supported USDC Circle has revealed that usd coin (USDC) is now hosted on the Polygon network and the addition means USDC is now available via nine different blockchain networks. Polygon is a large crypto ecosystem with more than 19,000 decentralized applications (dapps)…

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Ethereum’s Ropsten Testnet Has Completed Its Merge

Currently, the Beacon Chain runs in parallel with the current PoW chain. The Beacon Chain is the PoS coordination chain that already has validators creating and validating new blocks in tandem with the PoW execution chain. Once the PoS chain has been adequately tested and secured, the two chains will merge and Ethereum will continue as a PoS blockchain. Source CompletedEthereumsMergeRopstenTestnet CryptoX Portal

LINK Remains Near 1-Month High, as ADA Extends Bull Run – Market Updates Bitcoin News

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LINK remained close to a one-month high earlier in today’s session, as crypto markets shook off some of Tuesday’s volatile moves. Although price volatility remained, bulls returned to show force, with ADA continuing to climb higher this week. Chainlink (LINK) LINK was trading around a one-month high during today’s session, following a recent four-day bull run. The run commenced near a support level of $6.70, and took price above its recent resistance point of $8.80. As a result of this move, LINK/USD rose to a four-week high of $8.95 late…