Day: August 1, 2022

The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020 – Altcoins Bitcoin News

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While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the last seven months. Euro-Pegged Stablecoins Cross Half a Billion in Value Since the Start of the Year Today, most of the stablecoin economy’s value is based on tokens backed by the U.S. dollar, but a…

Polygon gains 83% in a month, but data show project has been losing traction

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Polygon (MATIC) had a promising July, gaining an impressive 83% in 30 days. The smart contract platform uses layer-2 scaling and aims to become an essential Web3 infrastructure solution. However, investors question whether the recovery is sustainable, considering lackluster deposits and active addresses data. MATIC/USD on FTX. Source: TradingView According to Cointelegraph, Polygon rallied after being selected for the Walt Disney Company’s accelerator program to build augmented reality, nonfungible token (NFT) and artificial intelligence solutions. Polygon announced on July 20 plans to implement a zero-knowledge Ethereum Virtual Machine (zkEVM), which…

Bitcoin bulls defend $23K amid warning bear market rally ‘alive and well’

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Bitcoin (BTC) tested $23,000 as support on the Aug. 1 Wall Street open with key moving averages in focus.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView 200-week moving average gets big attention Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as bulls and bears battled for control amid a tight trading range. Bitcoin had inspired with its highest weekly close since mid-June the day prior, with its monthly candle also producing the biggest gains since before last year’s $69,000 all-time highs. Among analysts and traders, however, it was the market’s…

Wright Put Forward ‘False Evidence,’ Will Receive Damages of One British pound

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What is Cryptocurrency – Basic Course for Beginners

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Blockchain cloud infrastructure company W3BCloud to go public via $1.25B SPAC

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On Monday, W3BCloud, a firm building global data centers for the Web3 and blockchain sectors, announced that it was going public via a takeover by special purpose acquisition vehicle (SPAC) Social Leverage Acquisition Corp I. ‍ Social Leverage Acquisition Corp I is listed on the New York Stock Exchange, has $345 million in trust and has received commitments from AMD, ConsenSys, SK Inc., and others for an additional $50 million in new investments. The combined transaction will value W3BCloud at $1.25 billion.  Last year, W3BCloud’s seven data centers, all of which…

Ethereum Beats Bitcoin In This Metric, Bullish For ETH’s Price?

Ethereum has been experiencing a slowdown in its bullish momentum over the weekend. The cryptocurrency managed to break the critical resistance at $1,700 but could re-test previous support levels before reclaiming higher levels. According to Wu Blockchain, Ethereum recently surpassed Bitcoin in terms of Open Interest (OI) for options contracts. This metric stands at $5.6 billion as opposed to BTC’s $4.3 billion. For the first time since the inception of these products, ETH’s price beat BTC’s open interest. As Wu Blockchain noted, most of the OI recorded for Ethereum option…

New York AG calls for whistleblowers 'deceived or affected' by the crypto market crash

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“I encourage workers in crypto companies who may have witnessed misconduct to file a whistleblower complaint,” said New York Attorney General Letitia James. New York Attorney General Letitia James has opened the doors for investors who may have witnessed misconduct at a crypto firm amid the extreme market volatility to file a complaint as a whistleblower. In a Monday notice, James called on New York-based crypto users who have been locked out of accounts at exchanges or lending platforms, unable to access funds, or “deceived about their cryptocurrency investments” to…

APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week – Market Updates Bitcoin News

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Apecoin was trading close to a two-month high on Monday, despite crypto prices mainly being in the red to start the week. Global crypto markets are currently down around 2% as of writing. Despite this, filecoin continued its own surge, with prices of the token up nearly 70% in the last seven days. Filecoin (FIL) Filecoin (FIL) was once again a notable mover in crypto, as prices of the token rose for a seventh consecutive session. Monday saw the token hit an intraday high of $11.24, which is its highest…

Socios Owner Invests $100M in FC Barcelona’s Web3 Efforts

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