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Month: September 2022
Bitcoin ETF Inflows Returns After Abysmal Phase
The outflows from bitcoin ETFs in the last couple of months suggested strong bearish sentiment among institutional investors. However, there seemed to be a change in the tide last week when a remarkable inflow trend was recorded over a three-day period. These inflows into the BTC ETFs that provide long exposure showed that investors were expecting further upside for the digital asset, and the decline in short BTC exposure speaks truth to this. ProShares Outflows And Inflows The ProShares Bitcoin ETFs are the most popular in the market. The BITO…
Shiba Inu Burn Rate Accelerates By 3,000%, Will It Impact Price?
The meme coin currently under the spotlight for its token-burning campaign hit a new burn rate high this Monday. Shiba Inu, the dog crypto, burned close to 200 million coins within the last 24 hours. According to SHIB Burn data, the burn rate of Shib tokens has spiked by about 3000% in the space of 1 day. Furthermore, most of the tokens sent to Shiba Inu’s burn wallet are from individual whale accounts. This burn initiative has taken off big since the beginning of this month. More than 500 million…
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Bitcoin Retests $20K While CEL Holds Gains Amidst Market Bleeding
The world’s foremost cryptocurrency, Bitcoin, has had an eventful week as it briefly hit the $22,500 benchmark on Friday. The crypto has been having a hard time for the past month, trading below $20,000. Detractors even went so far as to predict a $12,000 drop for the token amid the broader market’s bearish turn. Yet it rallied last week, breaking the $22,000 resistance mark before dropping again. Today, Bitcoin has climbed back and is currently trading around the $20,000 mark. Meanwhile, as the crypto ecosystem undergoes bearish turns in the…
Hardware wallets to take similar approach to potential Ethereum hard fork
Ethereum’s blockchain Merge is expected to take place around 05:05 UTC on Sept. 15. It is a milestone that marks a full transition towards Proof-of-Stake (PoS) for Ethereum, and eliminates the need for energy-intensive mining by a projected 99.9% when compared to Proof of Work (PoW). Some miners are also getting ready for a hard fork that would allow them to continue using PoW consensus. Forked coins have proven to be lucrative in the past. The holders of Ethereum (ETH), for example, came to possess an equivalent amount of Ethereum Classic…
Ethereum Mainstay Hudson Jameson on What Makes the Merge Monumental
Ethereum’s transition to proof-of-stake is like changing the engine of a moving car, where the car is the execution layer (EL) that processes the data and transactions and the engine is the consensus layer (CL) that determines how the transactions are built into blocks to make the chain. Because of this, Ethereum has execution clients (currently a choice of four) and consensus clients (currently a choice of five) that can be mixed and matched to enable security of the chain. Source
Coinbase to educate users on policies held by local politicians with new app integration
On Sept 14, Coinbase Co-Founder and CEO Brian Armstrong announced the company’s plans to begin integrating crypto policy efforts into its app. According to him, this will help the company’s 103 million verified users know where their local political leaders and representatives stand when it comes to cryptocurrency. 1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live. pic.twitter.com/3GqWZIioZQ — Brian Armstrong (@brian_armstrong) September 14,…
SEC Sues ‘Chicago Crypto Capital’, Employees for Illegally Selling BXY Tokens
BXY is a token aligned with the defunct crypto exchange Beaxy, according to the complaint. Hoping to raise capital and create a strong user base, Beaxy sold investors on a token that it said could generate ICO-era gains. it had an agreement with CCC to sell them as well. CCC pocketed 3 cents of every 5 cent sale, the complaint said. Source BXYCapitalChicagoCryptoEmployeesIllegallySECSellingSuesTokens CryptoX Portal
SEC Sues ‘Chicago Crypto Capital,’ Employees for Illegally Selling BXY Tokens
BXY is a token aligned with the defunct crypto exchange Beaxy, according to the complaint. Hoping to raise capital and create a strong user base, Beaxy sold investors on a token that it said could generate initial coin offering (ICO)-era high gains. It had an agreement with CCC to sell them as well. CCC pocketed 3 cents of every 5 cent sale, the complaint said. Source