Month: May 2023

China’s Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation

Coinspeaker China’s Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation The Chinese government has pushed the country to digital economy adoption post-Covid-19 global pandemic. The country has significantly rolled out the digital yuan in anticipation to widen the adoption of its currency as a global reserve. The digital Yuan is expected to significantly help improve the overall liquidity of cryptocurrencies in the Asian continent. Moreover, Hong Kong is preparing to adopt crypto-friendly regulations next month, which has significantly attracted Chinese banks to invest in crypto…

Investors Track Pepecoin (PEPE) Whales Amid Meme Coin Mania as Bitcoin (BTC), Ether (ETH) Stagnate

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This wasn’t the only example. Bizarrely named meme tokens like RIBBIT, BOB, JEFF and WEN all experienced massive spikes in volume over the weekend. Amid this rush into meme coins, overall volume on Uniswap’s decentralized exchange surged to $150 million an hour at numerous points on Saturday, way up from the typical $16 million to $30 million, according to Dune Analytics. Original

USDT Issuer Tether to Enhance Reserves via Regular Bitcoin Purchase

Stablecoin issuer Tether has announced plans to purchase Bitcoin with 15% of realized operating profits routinely. Tether International Limited (Tether) seeks to further consolidate its reserves by purchasing Bitcoin (BTC) with its operating profits. An official post states that beginning this month, the stablecoin company will regularly allocate up to 15% of its realized net operating gains toward BTC purchases. The report also states that Tether does not see current and future BTC holdings in its reserves exceeding the Shareholder Capital Cushion. Thus, the stablecoin issuer seeks to consolidate, grow and diversify its…

Telegram Defends Its Security Architecture amid macOS Camera Exploit Risk

Telegram has implemented various security features to enhance user privacy and data protection. Popular messaging app Telegram has addressed a recent camera and security exploit that could allow attackers to gain control of a macOS device’s camera. A spokesperson for Telegram Remi Vaughn mentioned that Telegram users are not at risk by default because the exploit requires malware to be installed on the system. Notably, Software engineer Dan Revah drew attention to this exploit in a blog post on May 15. In the post, Revah claimed to have gained local…

Bitcoin on-chain metrics suggest an early bull market

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Developments like the introduction of bitcoin-based smart contracts and other key on-chain metrics suggest the global cryptocurrency market is in the early stages of another bull cycle, according to Bitfinex analysts.  Bitcoin network activity and transaction fees Despite the current decline in the bitcoin price (BTC), network activity remains robust, fueled by BRC-20-related transactions. Bitfinex analysts have revealed via the latest Bitfinex Alpha Report that BTC transaction fees have skyrocketed, partly due to increased activity in…

‘One of the greatest’ Bitcoin metrics says BTC price bull run is here

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Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says. In a tweet on May 16, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite Decentrader, revealed history repeating itself according to the RHODL Ratio metric. RHODL Ratiocreator on BTC price: “Zoom out” RHODL Ratio is a method of tracking BTC price behavior based on the realized price of the supply — the price at which coins last moved. Created by Swift in 2020, it compares the relative ages of coins…

Bitcoin self-custody advocate explains why on-ramps are key to adoption

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Software developer Jameson Lopp believes improving usability and user experience of Bitcoin (BTC) self-custody solutions and making more avenues to acquire BTC will be key in further adoption of the preeminent cryptocurrency. The co-founder of Casahodl, who’s a prominent figure in the Bitcoin and wider cryptocurrency space, spoke of the challenges in building self-custody solutions in an exclusive interview with Cointelegraph journalist Joseph Hall ahead of Miami Bitcoin Week. Related: The Bitcoin transition: How hodlers can become changemakers and drive adoption Lopp has a wealth of experience as a developer building a…

Coinbase debuts feeless USDC trading in Singapore

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto exchange giant Coinbase has begun offering zero-fee USDC trading for users in Singapore. The initiative followed a survey showing an increasing level of crypto adoption. Coinbase announced the feeless USDC trading for its Singapore customers in a statement issued on May 16. Users will now be able to buy USDC stablecoin using Singapore Dollar deposits. This move expands Coinbase’s already existing zero-fee fiat deposits for Singapore users. Apart from zero-fee USDC trading, Coinbase says it…

Ripple’s XRP Experiences 8% Price Pump Following Latest Court Twist

Observers believe Wednesday’s XRP price pump indicates that Ripple has the upper hand in its ongoing litigation with the SEC.  Ripple native token XRP recently experienced an 8% price pump following a seemingly ‘favorable’ court ruling. The digital currency’s jump came after the presiding judge in the long-drawn-out Ripple vs SEC case denied a motion filed by the regulator. Ripple’s XRP traded at 46 US cents at 12:45 pm Singapore time Wednesday. Furthermore, XRP’s recent price upswing marks the crypto’s highest climb in seven weeks. This is likely because investors interpreted Judge…