Day: May 8, 2023

Liechtenstein Considers Enabling Bitcoin Payments for Government Services

Among the possible uses of Bitcoin, we should mention enabling citizens to make deposits in Bitcoin and immediately exchange them for the national currency of Liechtenstein – the Swiss franc. Liechtenstein might become a country with Bitcoin (BTC) adopted on the governmental level. According to Liechtenstein Prime Minister Daniel Risch, the country is exploring the use of Bitcoin and considering enabling its citizens to pay for government services with the crypto. As per the interview of Daniel Risch with the German newspaper Handelsblatt, “a payment option with Bitcoin is coming”. Prime Minister…

Mysten Labs Partners with Multiple Gaming Ecosystems to Launch Games on Sui from May 15th

Web3 facilitator Mysten Labs will roll out immersive games on its Sui protocol next week in collaboration with select partners. Mysten Labs has revealed 11 gaming partners for its Sui blockchain network, which goes live a week from now on May 15th. In addition to generating $300 million for the Sui Mainnet launched last week, Mysten Labs plans to launch high-end games on its Sui protocol. In an interview with GamesBeat, CEO Evan Cheng provided insight into the workings of its decentralized gaming agenda. Cheng explained that players could gain instant access to Mysten’s…

Aave Community Passes Proposal to Deploy on Ethereum Layer 2 Metis Network

The network will offer 100,000 native metis (METIS) tokens as a liquidity mining incentive for Aave users on the network that will be distributed over a six-month period. Elsewhere, a token mining reward program will distribute 4,000 METIS to participating protocols commensurate with the percentage of monthly transactions generated. Source AaveCommunityDeployEthereumLayerMetisNetworkPassesProposal CryptoX Portal

Central Bank’s Gold Purchases Make ‘Record Breaking Start’ in Q1 2023; 228.4 Tonnes Added to World Reserves – Economics Bitcoin News

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Central banks have continued to consistently purchase gold during the first quarter of 2023, according to the latest report of the World Gold Council (WGC), the global gold statistics organization. Central banks added nearly 230 tonnes of gold to their national reserves, representing a 176% rise compared to the purchases made in Q1 2022. World Gold Council Registers Strong Gold Demand From Central Banks Central banks have registered a strong demand for gold during the first quarter of the year, according to the latest report of the World Gold Council…

Pepe’s sudden drop leaves whale 500k in the red

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The price of new memecoin Pepe (PEPE) has plunged more than 42% only days after reaching its all-time high on May 6, leaving at least one investor with hundreds of thousands in paper losses.  According to blockchain analytics service Lookonchain, one crypto “whale” purchased 962.3 billion Pepe tokens using 70 Wrapped Bitcoin (WBTC) and 470 Ether (ETH) for an average price of $0.000003122 on May 5. PEPE has, however, fallen 42% from its all-time high since then, according to CoinGecko. The crypto investor’s PEPE holdings are now estimated to be worth…

‘Bitcoin is not under attack:’ BTC maxis allay fears of a DoS offensive

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A sudden spike in Bitcoin (BTC) transaction fees and unconfirmed transactions sparked concern on Crypto Twitter over the weekend of a potential Denial of Service (DoS) “attack” on the network.  Some Bitcoin analysts and commentators have been quick to allay these fears from their respective followers. Bitcoin average transaction fees are currently $19.20, or 0.00068 BTC, according to BitInfoCharts. Meanwhile, according to Mempool Space, the backlog of transactions at time of writing stood at 459,341. The increased demand on the network has even caused total fees per block to temporarily exceed…

Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Crypto Miners, Experts Say – Mining Bitcoin News

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Increasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half of Kazakhstan’s Cryptocurrency Miners The Russian Federation has a chance to increase its leadership in the field of crypto mining, against the backdrop of negative developments for the industry elsewhere. According to specialists from Intelion…

Binance halts Bitcoin withdrawals for the second time in 12 hours

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Bitcoin (BTC) withdrawals on Binance have again been temporarily shuttered, with the crypto exchange claiming it was due to a large backlog of pending withdrawals. Binance tweeted on May 8 that it closed off BTC withdrawals “temporarily” as there was a “large volume of pending transactions.” It added the transactions are still pending, as its “set fees did not anticipate the recent surge in [Bitcoin] network gas fees.” There is a large volume of withdrawal transactions from Binance still pending as our set fees did not anticipate the recent surge…