Month: January 2023

Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem? 

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The 2022 crypto bear market left a deep mark on the Avalanche ecosystem. AVAX, the native token of Avalanche, dropped by a whopping 89.5%, leaving many investors scratching their heads. However, the token has seen some rebound. According to CoinMarketCap, AVAX is up 3.78% in the past 24 hours and trading at $11.53. This pump in price is due to certain bullish factors that will play a role in Avalanche’s 2023 recovery.  Developments On-chain Increasing Although the past year has been very bearish in terms of the crypto market’s pricing,…

Indonesia to launch national crypto exchange in 2023: Report

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As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority.  On Jan. 4, the head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), Didid Noordiatmoko, stated that a crypto exchange should be set up this year. The move comes as a part of broader financial reform launched in December 2022. In accordance with the reform, in the next two…

DeFi Tool Convex to Make Changes to Staking Service for Curve Token Rewards

Convex allows users to access liquidity and earn fees from Ethereum-based stablecoin exchange Curve Finance, once the largest DeFi protocols with a total value locked (TVL) of $23 billion. As of Wednesday, Curve’s TVL had dropped to $3.2 billion, in line with a broader market fall. Convex locks over $3 billion and held over $21 billion during its 2021 lifetime peak. Source BitcoinConvexcryptoexchangeCurveDeFiExchangesRewardsServiceStakingTokenTool CryptoX Portal

Indians Moved Over $3.8B to Foreign Exchanges Since Crypto Tax Rules: Research Study

Days before the 30% tax came into effect, Nischal Shetty, CEO and founder of WazirX, one of India’s biggest exchanges, said what people will do now “is find ways to not be part of the [domestic] system because people are not going to leave crypto.” The Esya Centre report found that “an estimated 17 lakh users switched” from domestic crypto exchanges to foreign counterparts. Source

Ethereum Name Service Recorded Over 2.8M Domain Registrations in 2022

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Iran court orders the release of seized crypto mining equipment

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Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy. Since 2021, Iran’s Organization for Collection and Sale of State-Owned Property (OCSSOP) has seized mining equipment — both authorized and unauthorized — due to looming power shortage concerns. However, the authorities had a change of heart amid winter as they ordered the release of the seizure. As explained by Abdolmajid Eshtehadi, the head…

Ixana Announces Developer Kit for Wi-R, a Wireless Tech That Could Help Power the Metaverse

Well, not the body exactly, but the electromagnetic field surrounding it. Ixana’s technology, called Wi-R, makes use of the body’s natural ability as a conductor. A device either held or worn can transmit data over this field incredibly efficiently — Ixana claims it uses a hundredth of energy typically used in conventional wireless connections like WiFi or Bluetooth. Source

Internet Computer (ICP) Sheds 5% In Last 24 Hours As Bulls Lose Aggressiveness

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With more than $1 billion in market cap, Internet Computer is part of the top 50 cryptocurrencies according to CoinGecko. Although the crypto market is certainly bullish on the token, the positive sentiment on the crypto has not reflected in the charts in the past days.  According to CoinGecko, the token is down by 5% in the daily timescale. However, the bi-weekly timescale shows a 12% gain.  Bullishness Up, But Why Is Internet Computer Down?  DFinity, the company that launched Internet Computer, recently integrated Bitcoin to add smart contracts to…