Month: May 2023

SUI price drops 70% from market debut top amid excessive supply concerns

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The price of Sui (SUI) has dropped sharply after its market debut across leading cryptocurrency exchanges. On May 5, the SUI price was $1.26 per token, down about 70% from its record high of around $4, established two days ago on Binance. Interestingly, on other exchanges like Kraken, the token’s market top was $1.60 or lower, suggesting it was in “price discovery” mode after the launch. SUI/USD daily price chart. Source: TradingView Still, SUI maintains its overall market gains, up nearly 1,200% from its market debut. Early SUI price fundamentals…

Stripe Expands Access to Its Fiat-to-Crypto Onramp with New Hosted Option

The Stripe-hosted onramp was created with Web3 companies in mind. It is designed to cater to their varied use cases. Stripe, a financial infrastructure provider for businesses, has launched a fiat-to-crypto onramp to make it easier for Web3 companies to help their US-based clients to buy cryptocurrency. According to a Thursday release by the firm, it is also making the onramp to all Web3 users, including those on the waitlist. Businesses that provide crypto and blockchain-enabled products or services often face onboarding challenges when potential customers do not own the…

U.S. Adds 253K Jobs in April, Topping Expectations for 180K; Bitcoin (BTC) price dips on the news

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Social relevance, speculation drives PEPE surge

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Memecoins have been part and parcel of the cryptocurrency space since the inception of Dogecoin back in 2013, with fortunes made and ruined in equal measure. But a new token on the block caused a stir in recent weeks, as Pepe (PEPE) grabs a chunk of the memecoin market share from plucky investors. As previously reported by Cointelegraph, PEPE saw a 2,000% boom in value following its launch in late April 2023. The token’s rally is primarily attributed to zealous memecoin hype, with the project widely shared on Twitter over the past…

US Treasury Yield Spikes as Investors Fear Recurring Banking Crisis

Amid the broader banking crisis, investors are still concerned about the next move of the government in terms of Federal Reserve policy. United States Treasury yields spiked earlier today after fluctuations experienced on Thursday. The yield on the 10-year Treasury went up by almost 5 basis points or 3.407% while that of the 2-year Treasury jumped by 9 basis points or 3.823%. The percentage surge covered up some of the losses encountered in the previous trading day. The Treasury yield dip that happened earlier left investors with jitters about a…

PEPE memecoin hits $1 billion market cap fueled by Binance listing

The frog-themed memecoin Pepe (PEPE) surged over 85% in the last 24 hours and surpassed a $1 billion market cap three weeks after it was first launched on April 14, 2023. PEPE memecoin price breaks $0.000003 on May 5. Source: CoinGecko Ironically, the core value proposition of PEPE is that there isn’t one. The official website for the cryptocurrency features a disclaimer that describes investment in the token in the following manner: “$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal…

BNP Paribas Will Link Digital Yuan to Bank Accounts for Promoting CBDC Use: Report

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Stronghold Digital Partners With Canaan Subsidiary to Boost Bitcoin Mining Capacity by 400 PH/s – Mining Bitcoin News

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Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total hashrate capacity of 400 petahash per second (PH/s) by the end of June. Stronghold Digital’s Hosting Agreement With Canaan Subsidiary Aims to Increase Bitcoin Mining Capabilities On May 4, 2023, Stronghold Digital Mining, Inc. (Nasdaq:…

How blockchains can solve greenwashing and contribute to climate action

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As concerns about climate change and environmental sustainability continue to grow, many organizations are turning to innovative solutions to help address these pressing issues. One such solution is blockchain technology, which has the potential to revolutionize sustainability efforts across a variety of industries.  On April 25, a World Economic Forum (WEF) whitepaper featured blockchain as a tool to fight climate change. The whitepaper highlighted the benefits of using blockchains in the climate action community. From improving market transparency to democratizing access to climate action, the WEF wrote about various benefits…