There are a few reasons behind the yearly high. Lower fees on the BNB Chain might mean users are more likely to trade there, said Katie Talati, head of research at Arca, trying to explain the surge in volume. Another reason, she suggested, could be due to Binance’s popularity in the world of centralized exchanges. “It makes sense that users get routed to BNB Chain after using Binance,” she said. Source
Ether (ETH), the second-largest cryptocurrency by market capitalization, rose more than 1% to hover around $1,830 Monday afternoon. Among other digital assets, LDO, the governance token for the liquid staking platform Lido, surged 11% to trade at $2.15, while indexing protocol The Graph’s GRT token jumped more than 12% to trade at $0.12. Original
On May 15, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” which revealed that digital asset investment products experienced another week of consecutive outflows, with a total of $54 million exiting the market. This brings “the total outflow to US$200m, representing 0.6% of total assets under management (AuM),” CoinShares reported. Weekly crypto asset flows. Source: CoinShares According to the report, Bitcoin (BTC) funds witnessed outflows of $38 million. Over the past four weeks, total BTC outflows amounted to $160 million, accounting for 80% of all…
Midway through May and bitcoin has mostly fallen lower, as markets digested several key pieces of economic data. The headline was another rate hike by the Federal Reserve, which came as U.S. non-farm payrolls rose marginally higher than expected. Heading into the last fortnight of the month, could bulls be on the brink of returning? Current Market Status At the halfway point of May, bitcoin has fallen to a two-month low, as market sentiment shifted bearish, following April’s strong gains. With several key data points all being released in a…
That setup would ensure Hector’s own employees would have final say over all proposals considered by the DAO. The only non-employee, the pseudonymous Sonoro, is currently the chief of a group of “oracles,” community members who currently have the power to write HIPs but under the new setup have the right to review and comment on proposals. Source
Bitcoin’s price broke below its 55-day resistance at $27,000 on May 12, down 12.3% in 30 days. But more importantly, it decoupled from the S&P 500 Index, which is basically flat from 30 days ago and 15% below its all-time high. Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView As the chart indicates, for some reason, Bitcoin (BTC) investors believe that the favorable macroeconomic trends for risk markets were overshadowed by the increasing risk perception of the cryptocurrency sector. Financial crisis could fuel Bitcoin’s price increase…
Amazon is preparing to develop and implement a new “search” functionality for its online web store featuring a ChatGPT-like interface. A pair of job postings first spotted by Bloomberg spell out the company’s plans, which state in unambiguous language that Amazon intends to reinvent its long-standing search feature. In a job listing for a “Sr Technical Program Manager,” the company states: “We are working on a new AI-first initiative to re-architect and reinvent the way we do search through the use of extremely large scale next-generation deep learning techniques.” The…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Daily transactions for dogecoin, the meme-based cryptocurrency, soared to an all-time high, surpassing bitcoin and litecoin. With a record of 650,000 transactions, dogecoin’s network activity surpassed other major tokens. Dogecoin on-chain activity surges In recent times, there has been a notable surge in on-chain activity within the dogecoin network, which can be primarily attributed to the adoption of the DRC20 token standard. The Dogecoin community embraced the DRC20 standard, leading to a significant increase in activity…
Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a study by blockchain analyst Elliptic. Asian countries make up three of the four top targets for the so-called Hermit Kingdom’s hackers, Elliptic found. The study, commissioned and reported on by Japanese financial publication Nikkei, looked at losses of cryptocurrency from cyberattacks originating in North Korea from 2017 through 2022. The study took into account both hacking and ransomware attacks. It described the attacks as a “national strategy.” Related: Binance to reenter Japan via acquired regulated exchange…
Bitcoin’s price declined for eight consecutive days through May 13, totaling a 9.4% correction. The last time such a losing streak happened was on June 14, 2022, after the Celsius lending platform halted withdrawals and FUD — fear, uncertainty and doubt — emerged from United States software firm MicroStrategy’s loan being liquidated at $21,000. Nothing remotely similar happened as Bitcoin (BTC) retested the $25,800 support on May 12, apart from the network congestion and increased transaction fees. Traders and analysts speculated that a coordinated attack was aimed at causing network instability. Bitcoin is…