Month: May 2023

Bitcoin down to $27.5k while BTC addresses surge to new ATH

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The largest cryptocurrency by market cap, bitcoin (BTC), is on a downward move for the third consecutive day despite the growing number of its holders. Bitcoin’s price drop started on May 6, when the asset was trading at around $29,700. As the global crypto market cap started to fall from the $1.2 trillion mark to $1.13 trillion at the time of writing, the flagship digital currency also recorded its three-day consecutive decline. According to crypto.news data,…

Elon Musk Tweets on Purging Inactive Twitter Accounts from Database

Elon Musk assured the community that a lot of usernames would become available after the purging. According to Elon Musk, his newly-possessed social media app, Twitter will be mopping up some accounts from its database. The purging of inactive accounts by Twitter will open up a handful of desired usernames for interested users. For a while now, Twitter has promised to add more usernames to its platform. However, the social media app has failed to carry out any meaningful effort to reinstate those usernames. Twitter earlier implemented a new policy…

Paxful Resumes Trading after Month-Long Hiatus

The internal issues of Paxful stem from nothing else but the sour relationship between co-founders Youssef and Schaback. Peer-to-peer (P2P) Bitcoin trading platform Paxful has announced that normalcy has now returned to its marketplace. This follows after some internal issues and regulatory pressure forced the platform to suspend all activities, barely a month ago. In a recent blog post, however, Paxful has now confirmed its reopening while also sharing the reason behind the suspension. The firm noted that, at the time, the decision was in the best interest of the…

Deloitte blockchain initiative focuses on digital identity verification

Deloitte Consulting ventures into the blockchain realm by developing digital credentials using the KILT Protocol, with the potential to transform industries such as banking, e-commerce, and decentralized finance. Deloitte Consulting just revealed its new movement into the realm of blockchain technology. The firm intends to develop digital credentials for multiple purposes, such as regulatory compliance in the banking sector, decentralized finance, and age verification in e-commerce. By basing these reusable credentials on the KILT blockchain, Deloitte aims to enhance the efficiency of identity verification processes for both businesses and consumers.…

Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues – Exchanges Bitcoin News

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Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces It Is Working on Implementing Lightning Network Withdrawals Leading cryptocurrency exchange Binance has recently announced it is working to integrate Lightning Network, a bitcoin-based scaling solution, into its platform. The exchange made the…

Ordinal Token (ORDI) sees $93m in volume immediately after CEX listing

The Ordinal Token (ORDI) has made history by recording a staggering $93 million trading volume within just 12 hours after its first-ever centralized exchange (CEX) listing. The massive trading volume marks a major milestone for the first BRC-20 token on the market, leaving many in awe of the token’s performance and prompting questions. Listing on Gate.io Ordinals are gaining popularity in the bitcoin world as a new form of digital assets similar to NFTs. The unique feature of Ordinals is that users are inscribing images, video games, and other content…

Ordinals inscriptions approach 4.8M, nearly doubling in just over a week

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The number of Ordinals inscriptions on the Bitcoin (BTC) network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days.  While the Ordinals protocol was initially used to mint images as non-fungible tokens (NFTs), users began to realize that they could use text-based inscriptions to create fungible tokens in a similar way to those minted via the ERC-20 token standard on the Ethereum (ETH) network. The total number of Bitcoin Ordinals inscriptions since December 14. Source: Dune Analytics. These text base…

Ron Paul States Federal Reserve’s ‘Decade of Near 0% Rates’ Caused Today’s Financial Crisis – Economics Bitcoin News

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Former House Representative Ron Paul has presented his stance when it comes to the financial crisis that the U.S. is currently facing. Paul stated that the continued application of quantitative easing (QE), a policy used to increase the money supply, and the decades of almost null interest rates, are what nurtured the current financial crisis the U.S. is facing. Ron Paul Believes Federal Reserve’s Policies Created Today’s US Financial Crisis Ron Paul, former representative and presidential candidate, has recently talked about the financial crisis the U.S. is facing. According to…