Month: January 2023

Why Tether And USD Coin Holders Are Running To Pick Up Big Eyes Coin

Place/Date: – January 11th, 2023 at 6:20 am UTC · 3 min read Source: Big Eyes Coin A mad scramble. Greedy hands fighting each other, clawing to scoop up as much as feasibly possible to stuff into their cold wallets. Over the weekend, Big Eyes Coin (BIG) has been selling like hotcakes, having sold over $13 million in its pre-sale. Tether (USDT) and USD Coin (USDC) holders are running to pick up this up-and-coming meme coin. But why? In this article, we’ll outline some of the many reasons why so…

USDC transfer volume hit 5X USDT’s in fallout from FTX collapse

Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX. It now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode. That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times. Both stablecoins recorded surges in transfer volumes following an infamous tweet from Binance CEO Changpeng Zhao on Nov. 6…

USDC transfer volume hit 5X USDT’s in fallout from FTX collapse

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Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX and now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode. That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times. Both stablecoins recorded surges in transfer volumes following an infamous tweet from Binance CEO Changpeng Zhao on Nov. 6…

Bitget Launches Fund Custody Service With Dedicated Wallet to Elevate Safety – Press release Bitcoin News

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press release PRESS RELEASE. Victoria, Seychelles 11 Jan 2023 – Leading crypto exchange Bitget launches the Fund Custody service for professional investors and institutions. The service will provide dedicated wallets to qualified accounts to maximize protection of customers’ funds on the platform. The exchange also recently released the latest snapshot of its Merkle tree Proof of Reserves to reassure users that their assets are held in 1:1 reserves. To be qualified for the Fund Custody service, users will have to store more than or equal to 100,000 USDT worth of…

Optimism and Arbitrum flip Ethereum in combined transaction volume

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Ethereum Layer-2 (L2) on-chain activity has been increasing to the extent that the leading two networks now process more transaction volume than the Ethereum network. Layer-2 networks Arbitrum and Optimism have seen an increase in transactions over the past three months. Comparatively, aside from a few spikes, transactions on the Ethereum network have declined by around 33% since late October according to Etherscan. This has enabled the two L2s combined to flip Ethereum for this metric, according to Dune Analytics data. The chart shows Ethereum processed over 1.06 million transactions…

Proposed bill in Argentina encourages citizens to reveal crypto holdings

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Argentina’s Ministry of Economy, the country’s economic policy manager, has drafted a bill to encourage Argentines to declare their cryptocurrency holdings, using the inducement of discounted tax rates. Aimed at combating money laundering, the “Externalization of Argentine Savings” draft law was introduced by economy minister Sergio Massa, according to a Jan. 6 report by local outlet Errepar. The bill would require crypto holders to produce an affidavit — a sworn statement identifying the whereabouts of their holdings to the government. The bill proposes tax incentives to encourage citizens to declare…

World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’ – Economics Bitcoin News

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On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7% in 2023 and 2.7% in 2024. The World Bank also cited a number of adverse developments that could push the world’s economy into a deep recession. World Bank Report Urges Action on Climate Change, Increased Investment to Offset Adverse Economic Shocks…