Day: November 27, 2022

The reason bots dominate crypto gaming? Cash-grubbing developers incentivize them

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Think back to the communities you’ve been genuinely excited to be a part of throughout your life. It’s likely these were groups formed on the basis of shared interests, right? That’s because we feel a sense of belonging when we bond with others over any particular thing we feel a particular way about. For example, I love games, and I never get tired of exploring or fostering communities where I can meet other gamers.  That’s how I know that the current GameFi space is no breeding ground for gamers like…

Coinbase Launches New Initiative To Promote Crypto Exchange Transparency and On-Chain Accounting

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US crypto exchange giant Coinbase is launching an initiative to help encourage more transparency among firms in the industry, particularly in regard to proof of reserves. In a blog post, Coinbase says it’s exploring new ways to prove reserves using more crypto-native methods, plus announcing a $500,000 developer grant program to encourage others to do so as well. Coinbase says that following the collapse of crypto exchange FTX, investors in the space deserve assurance that they’ll have the ability to withdraw their funds after depositing to centralized platforms. The firm…

Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit – Markets and Prices Bitcoin News

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While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest FTT wallet with 45.85 million tokens worth $61.44 million. FTT Remains Above $1 per Unit During the Past 2 Weeks Since the FTX Collapse It’s been over two weeks since FTX filed for Chapter 11…

What’s Next For Cardano Price As It Auctions At $0.31?

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The Cardano price continues to suffer a downtrend throughout the month of November. Over the last 24 hours, ADA registered a 0.6% depreciation. ADA’s next upcoming trading sessions remain crucial as the market is expected to move out of lateral trading. Depending on how quickly it breaks through its current resistance. The bears continue to pull down the price level. Bears will continue to succeed if ADA doesn’t claim the $0.36 price. A buying resurgence could help ADA move upwards, marking the start of bullish price action. Continued demand for…

Bitcoin ‘millionaire’ wallets drop 80% in year of BTC price bear market

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Bitcoin (BTC) millionaires are becoming an increasingly rare breed as numbers fall 80% in a year. According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with a BTC balance worth $1 million or more. 1 year, 90,000 fewer million-dollar BTC wallets In yet another indication of how far the crypto market has fallen since Bitcoin’s last all-time highs, Bitcoin millionaires have been seriously feeling the pinch. Glassnode, which tracks multiple cohorts of BTC wallets, confirms that as of Nov. 25, there were 23,245…

Kraken’s Jesse Powell Says He’ll Call Out Problems in Crypto, Weighs In on Exchanges Showing Proof of Reserves

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Kraken founder and former chief executive Jesse Powell says he’s looking to publicly point out problems in the crypto space, starting with the issue of exchanges sharing their proof of reserves. Following the high-profile collapse of FTX, crypto exchanges have been scrambling to provide evidence of a one-to-one ratio of reserves to investors’ assets in an effort to increase transparency. According to Powell, a proof-of-reserve audit is valid if it comes with proof of client balances and wallet control. “I said I was going to be more assertive with calling…

A Dozen Digital Assets Record Double-Digit Gains as Crypto Markets Begin to Heal After FTX’s Collapse – Markets and Prices Bitcoin News

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At the time of writing the global cryptocurrency market capitalization is hovering around $842 billion on Sunday, Nov. 27, 2022. Bitcoin prices consolidated since the start of the week, as seven-day stats indicate the price of bitcoin has dropped by 0.02% this week. Meanwhile, while bitcoin prices remain static, a number of alternative crypto assets have recorded double-digit gains this week. Crypto Economy Hovers Above the $800 Billion Zone as a Dozen Tokens Record Double-Digit Gains Bitcoin (BTC) on Sunday is currently trading for $16,550 per unit and prices have…