Day: May 7, 2023

Binance closes BTC withdrawals amid congestion on the Bitcoin network

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Crypto exchange Binance closed Bitcoin (BTC) withdrawals on May 7 due to an alleged overflow of transactions on the Bitcoin network.  Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed at the time of writing. The mempool is known as the “waiting area” for incoming transactions before they are verified independently by each node on the network. Bitcoin mempool at 16:42 UTC on May 7. Source: mempool.space Binance tweeted that BTC withdrawals had resumed after nearly an hour of halting. Outflows on the crypto exchange peaked on…

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees – Bitcoin News

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In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current rate of $8.82 per transaction as of May 7. Bitcoin miners are struggling to keep up with the demand, leaving many users frustrated and unable to complete their transactions in a timely manner. Bitcoin Network…

What is a Wells notice, explained

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A Wells notice is not a final determination of guilt or wrongdoing, meaning that the recipient has the chance to respond and make a case before any administrative action is initiated. The Wells notice procedure, though, is a clue that the SEC is considering taking action, and how it turns out might have a big impact on the recipient and any linked investors. Consider the case where the SEC is looking into possible insider trading offenses at a publicly traded business. The SEC suspects that one of the company’s officials…

Despite regulatory concerns, bitcoin and digitoads interest growing among crypto investors

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The shadow of regulatory action has been looming over the global crypto industry for some time now. The FTX crash and the recent SEC action against cryptocurrency exchange Coinbase are some of the grim reminders of troubled times. Among concerns about regulatory action, cryptocurrency users are gravitating towards more dependable crypto projects like Bitcoin and DigiToads. While bitcoin (BTC) is one of the earliest cryptocurrencies rolled out, digitoads is a popular meme coin due to the project’s…

Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days – Blockchain Bitcoin News

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Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million. More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth $279M The BRC20 token standard, which is built on top of the Bitcoin network, is gaining momentum and the BRC20 token economy is flourishing. As of Sunday, May 7, 2023, the BRC20 token economy is…

Expert believes that crypto has the potential to improve e-commerce

The advent of cryptocurrency has generated immense buzz in the tech and finance sectors. Over the past few years, the use of crypto as a legitimate payment option for goods and services has steadily gained traction.  Initially, digital currency adoption was confined to technology enthusiasts, but it has increasingly permeated mainstream commerce. Particularly, the integration of cryptocurrencies into e-commerce is poised to transform the industry by proffering enhanced security, speed, and cost-effectiveness. This integration has created a paradigm shift that promises to significantly alter the way businesses process transactions.  According…

Upgrade to Bring Bitcoin Cash Smart Contracts, Ted Cruz on BTC, Global De-Dollarization Efforts — Week in Review – The Weekly Bitcoin News

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Software developer Jason Dreyzehner says smart contracts “comparable to Ethereum,” but remarkably more efficient will be made possible by the May 15 upgrade coming to the Bitcoin Cash network. In other news, the world’s largest regional organization, the Shanghai Cooperation Organization (SCO) plans to switch to settlements in national currencies, moving away from the U.S. dollar. This and more, just below, in the latest Bitcoin.com News Week in Review. Bitcoin Cash Smart Contracts ‘Comparable to Those on Ethereum’ Possible via May Upgrade, ‘1000x Efficiency Advantage’: Dev Jason Dreyzehner Pro-freedom technologies…

PEPE holders plateauing after meme coin listing on Binance

The number of pepe coin (PEPE) holders has flat-lined, reading from Etherscan data on May 7. PEPE, a meme coin that has zero utility but is meant to build on the legacy of “Pepe the Frog”, is one of the hottest tokens, reading from the general interest of the crypto trading community. PEPE is rallying, number of holders plateauing The meme coin has surged over 1,200% in the last week alone, outperforming popular coins like bitcoin (BTC) and ethereum (ETH). Despite the significance of these currencies and their position in the crypto…

PEPE flips XRP, ADA to be the third most traded token on Binance

Pepe coin (PEPE), the viral meme coin with zero utility, is now the third most actively traded token on the Binance’s futures market flipping ripple (XRP), cardano (ADA), and others, statistics on May 7 show. PEPE’s trading volumes rise When writing, bitcoin (BTC) and ethereum (ETH), paired with USDT, the world’s most liquid stablecoin, only topped PEPE. Associated BTC and ETH trading volumes in the past 24 hours stood at $12.4b and $7.8b, respectively, despite a notable price contraction. PEPE is popular: Binance Meanwhile, the 1000PEPEUSDT perpetual was the third…

The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?

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On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend. ETH price holding key support Ether’s price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago. Moreover, the price volatility dropped on Kraken in…