Month: January 2023

Crypto Stocks Pare Off Losses in Wake of Broader Industry Revival

The digital currency ecosystem is a very volatile one, and what seems to constitute the basis for the current growth trend today may not necessarily be fueling the market momentum tomorrow. Many crypto stocks are seeing an impressive start to the year, riding on the back of the sustained rally in the broader digital currency ecosystem. The combined market capitalization of the cryptocurrency industry is currently pegged at $995.26 billion, up 0.67% in the past 24 hours after surging as high as $1.03 trillion earlier this week. Crypto stocks including…

Ethereum Layer-2 Platform, ZKSync, Releases New SDK in Swift

ZKSync, an Ethereum layer-2 platform designed to scale transaction throughput using zero-knowledge (ZK) proofs and Rollups, has released a new software development kit (SDK) in Swift. ZKSync Releases SDK in Swift In a tweet on January 17, ZKSync said the goal is to make their features more accessible to developers and dApps. With a Swift SDK, ZKSync would support more platforms and use cases, especially for teams building iOS and macOS applications on ZKSync 2.0. We want to make zkSync 2.0’s features accessible to more developers and applications, so we’ve released…

Solana Foundation, Ripple, and GBBC Partner to Accelerate Crypto Solutions for Climate Change

Solana Foundation, Ripple, and GBBC will work on finding ways of mitigating environmental risks as well as applying the best practices for climate-related crypto efforts in different sectors. Solana Foundation and Ripple Labs Inc have announced their partnership with the Global Blockchain Business Council (GBBC), the largest industry association for the blockchain technology and digital assets community, to promote the use of crypto-based solutions for issues related to climate change. Solana Foundation, Ripple, GBBC: Common Climate Initiative Within the partnership, a new non-profit organization has been formed. Called Blockchain x Climate Leadership Network (BxC),…

Coinbase stops Japan operations amid trading slump

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Despite Bitcoin (BTC) returning to pre-FTX collapse price levels, the contagion still affects the industry, forcing Coinbase cryptocurrency exchange to close operations in Japan. Coinbase officially announced on Jan. 18 that the firm will be terminating operations in Japan and conduct a complete review of its business in the country due to market conditions. All Coinbase Japan customers will have about a month to withdraw their fiat and crypto holdings from the platform by Feb. 16. After Feb. 17, the remaining crypto assets held by Coinbase Japan customers will be…

Crypto Observers Maintain Risk On Bias as US Debt Ceiling Nears

“The debt ceiling never used to be an issue and was always raised without much fight. But then, in 2011, it became a huge issue and the economy took a hit that lasted for a few months, and the Federal credit rating was downgraded. While most politicians should remember that time, or at least understand their recent history, this time might also be different because this group of House Republicans is clearly looking to shake things up,” Wes Hansen, director of trading and operations at crypto fund Arca, said in…

Crypto Hedge Funds Recorded Nearly 50% Loss in 2022

Though the result calls for concerns, it is still not the worst performance seen in the last five years. According to research firm BarclayHedge, hedge funds fell by approximately 50% by the end of the year.  This follows after a recent Reuters report surfaced, detailing how crypto hedge funds went through a significantly rough patch last year. In total, BarclayHedge tracked an index of 47 crypto hedge funds. And though it kept them anonymous, data suggests they posted a loss of over 47% for the year. BarclayHedge Says FTX May…

Shiba Inu Price Jumps By 21%, Here’s Why

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While the broader crypto market has been trending sideways in the past 24 hours following its stellar rally over the past two weeks, Shiba Inu (SHIB) is bucking the trend, posting a whopping 21% price. The trading volume of the meme coin has exploded by 150% to $810 million within the last 24 hours. A look at the 1-day chart reveals that the Shiba Inu price approached the lower end of the key resistance zone at $0.000013, but was rejected initially. At press time, SHIB was trading at $0.00001254, reaching…

Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations – Metaverse Bitcoin News

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The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the Metaverse to 20 Urban Spots Shanghai, China is quickly moving to integrate the metaverse as part of the lives of its citizens. The Shanghai Municipal Commission of Economy and Informatization recently announced a pilot program…