Month: May 2023

Multichain sees significant token drop amid ongoing transaction delays

The decentralized cross-chain protocol Multichain is grappling with severe transaction delays, causing its native token, MULTI, to plummet 29.4%, even as the team works on a resolution and reassures users of the safety of their funds. In recent developments, the native token for the cross-chain bridge Multichain, also known as MULTI, experienced a sharp drop of 29.4% today, down to a trading value of $5.02 as per data from CoinGecko. This sudden downfall came in the wake of reports by users experiencing stuck transactions, which sparked concerns in the community.…

Elon Musk tells investors to be careful in crypto investments, still likes DOGE

Elon Musk recently said DOGE is his favorite cryptocurrency but warned investors to exercise caution when dealing with investments in the crypto space. Elon Musk warns against heavy investments in crypto Despite liking dogecoin, multi-billionaire Elon Musk recently noted that he would not advise anyone to bet huge on crypto. Elon Musk was speaking at an interview with the Wall Street Journal. Elon Musk just gave his current views on crypto on an interview with WSJ “Dogecoin is my favorite because it has the best humor and it has dogs”…

MATIC sees more than 80% decline in transaction volume

Polygon (MATIC) saw significant growth in 2021 but has since experienced a decline in transactions, raising concerns about its future. Examining the current state of Polygon Polygon, an Ethereum blockchain scaling solution that aims to enhance the network’s scalability and reduce transaction costs, has been a subject of interest and speculation among crypto enthusiasts.  However, recent data reveals its transaction volume is falling. According to a tweet by analytics blockchain analytics firm IntoTheBlock, Polygon’s daily transaction count has plummeted to approximately 2,000, marking an 81.38% decline from its peak earlier…

Nanjing unveils metaverse platform for local web3 development

Nanjing City in China has introduced the China Blockchain Technology and Application Innovation Platform with the aim of establishing the China metaverse technology and application innovation platform. The foundation for metaverse research and development Led by Nanjing University of Information Science & Technology (NUIST), a newly established Chinese state-backed organization has announced the launch of a platform dedicated to metaverse research and development. NEWS: Nanjing, the capital city of China’s eastern Jiangsu province, has launched a metaverse platform to enhance research in related fields. 📰: https://t.co/iJVTndtwvR pic.twitter.com/VNNK2eAitp — CoinGecko (@coingecko) May 24,…

BTC Holds Below $27K Amid Macro Uncertainties

Bitcoin was recently trading at $26,362, down about 3.1% over the past 24 hours. The largest cryptocurrency by market capitalization had been hovering in a narrow range before dipping below its recent $26,500 support early Wednesday. Markets have been roiled by an ongoing debt ceiling stalemate and inflationary and crypto regulatory concerns. Federal Open Market Committee minutes showing a difference of opinion among U.S. central bankers about further rate hikes did little if anything, to soothe markets – crypto or otherwise. Source

Ripple defense attorney files motion to withdraw from SEC case

Kylie Chiseul Kim, a key defense attorney for Ripple Labs in its ongoing litigation against the SEC, has submitted a motion to withdraw from the case due to her departure from the law firm representing Ripple. In a development from the high-profile litigation between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC), Ripple’s defense attorney, Kylie Chiseul Kim, has submitted a motion to the Southern District of New York, seeking to withdraw from the case. Kim has been a key legal figure in this ongoing lawsuit and…