Day: July 6, 2023

Aave, Radiant Among Firms Adopting Balancer’s 8020 Initiative for Tackling Lack of Liquidity in DeFi

In order to participate in protocol governance at the moment, token holders must stake the protocol’s native token, which reduces the circulating supply and capital on decentralized exchanges. Under the new model, holders can stake Balancer Pool Tokens (BPTs), allowing them to take part in governance proposals while the underlying protocol’s token remains in the pool to provide liquidity to swaps. Source

Bitcoin’s correlation with S&P 500 falls to a 2-year low

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to Coin Metrics’ State of the Network report for Q2 2023, there has been a notable reduction in the 90-day correlation between the cryptocurrency market and equities represented by the S&P 500 index. This marks a deviation from the trend observed in 2022. In H1 2023, bitcoin rose 82%, ranking it third in terms of growth among assets with a market capitalization exceeding $1 billion. Only lido (LDO) and bitcoin cash (BCH) outperformed bitcoin in…

Will 2023 Be the Year of the Bitcoin ETF?

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As of right now, there’s still no spot bitcoin ETF trading in the U.S., but BlackRock’s filing a few weeks ago signaled to the industry that the time may be coming when that changes. Over the past few weeks, we’ve seen half a dozen new applications for a spot bitcoin ETF in the U.S. Has the market evolved enough to support an ETF, and can companies provide the SEC with enough assurances that an ETF would be safe? Original

Towards a More Responsible AI — Casper Labs

While this remains an unlikely reality, it’s far more plausible today than when the film was released nearly 40 years ago – and it’s a topic we can no longer afford to ignore. Over the past decade, generative AI systems have made remarkable progress around image recognition, reading comprehension and language understanding, to the point where they can credibly mimic, and eventually surpass, human capabilities. While most AI development to date has focused on training large language models to generate text, the rapid pace of innovation with no real oversight…

BTC price abruptly dips below $30K as Bitcoin daily candle turns sour

Bitcoin (BTC) continued snap volatility after the July 6 Wall Street open as yearly highs gave way to a comedown. BTC/USD 1-hour chart. Source: TradingView Bitcoin suddenly falls to new July lows Data from Cointelegraph Markets Pro and TradingView followed BTC price action as it seesawed around the $30,000 mark. Bitcoin had surged to its highest levels since mid-2022 earlier in the day, but the party ended up short lived as the largest cryptocurrency gave back all its gains. BTC/USD even set new July lows on Bitstamp, so far bottoming…

8 ways crypto mining companies can effectively embrace ESG practices 

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Companies across industries are focused on improving their environmental, social and governance practices, and with good reason. In addition to having the desire to do good for its own sake, businesses are very aware that more and more investors are taking a company’s ESG standards and practices into account when making investment decisions. Crypto mining companies would do well to look into how they too can keep ESG practices in mind, and in light of a common criticism levied at the crypto industry — that it has a large carbon…

What is the ZK industry up to? Rollups, multichain bridges and VCs

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Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information.  The technology is vital for Ethereum layer-2 solutions to achieve blockchain scalability, and to the privacy and security of ZK transaction networks. The top ZK tokens, such as Polygon (MATIC) and Zcash (ZEC), have surpassed $9 billion in market cap since their inception. Given the increasing focus on ZK technology and the…

AI Crypto Trading Bots Are the New ‘Edge’

Some traders, for example, swear by using chart patterns such as “head and shoulders,” which looks like a small hill on the left, then a big hill in the middle, then another small hill on the right. The theory is that this is bearish and a potential signal to sell. (You’d also look at many other factors, of course.) The AI bot could scour every single cryptocurrency — and every trading pair, not just BTC/USD but more exotic ones like SOL/BTC — at every second around the clock, hunting for…

Crypto Miner HIVE Blockchain Rebrands to Drive AI Expansion

HIVE Blockchain Technologies Ltd. has declared its plan to strategically rebrand, including a transition to the new name “HIVE Digital Technologies Ltd.” This rebranding initiative is designed to mirror the company’s progression into the realm of high-performance computing (HPC) data centres, utilizing Nvidia’s superior Graphics Processing Unit (GPU) chips to tap into the burgeoning trend of widespread adoption in the field of Artificial Intelligence (AI). Established in 2017, HIVE has been an innovative leader in the domain of cryptocurrency mining. The upcoming name change signifies a major strategic shift to…

4 reasons why Ethereum price can’t break $1,970

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Ether (ETH) price faced resistance after hitting the $1,970 level on July 3. A number of factors capped the rally, including higher odds of more interest rate hikes in the coming months and a tighter regulatory cryptocurrency environment. Macro headwinds from the Fed Besides the external factors, the Ethereum network has faced withdrawals from its smart contract applications, which also put the June rally in check. Investors now question whether the tailwinds from Bitcoin’s (BTC) ETF requests have faded, opening room for a correction down to the $1,700 level last…