Day: August 27, 2023

The rise of blockchain gaming in Asia has just begun

Asia has massive potential to become the driving force of the worldwide adoption of web3 games and blockchain in years to come. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Asia has been a prominent player in the gaming industry for some time, generating a significant amount of the world’s gaming revenue. One study uncovered that Asia is home to approximately 55 percent of the world’s blockchain gamers, and these users generate roughly 52 percent…

BONE Coin Surges 15% On Weekly Chart Amid Crypto Turbulence

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In the aftermath of the crypto market sell-off, BONE/USD currently trades at $1.31 in the last 24 hours, with a trading volume of $8.8 billion. This marks an over 11% price increase in the last seven days. If the Bone Shiba swap continues following the current market trends, the coin will soon hike to 20% next week.  A significant recent event that has piqued the interest of investors and enthusiasts is the relaunch of Shibarium, the decentralized exchange tied to BONEUSD. This relaunch has breathed new life into the BONE…

Friend.tech fees drop 70% following $1.7m peak

Earnings on the decentralized social platform Friend.tech plummeted in tandem with its number of daily users. According to the latest data from DeFiLlama, Friend.tech’s earnings started to fall, with more than 70% lower fees by the end of the week compared to its peak. The number of daily added users also fell, marking an almost 80% decrease. Friend.tech fees | Source: DefiLlama At the height of its popularity, Friend.tech was the highest revenue-generating entity in decentralized finance (defi). It gained as many as 100,000 users in a few days. A…

Binance sheds light on low-cap altcoin risk management process

In an email conversation with crypto.news, a Binance spokesperson discussed the exchange’s risk management approach and confirmed initiating contact with low-market cap altcoin projects. The initiative is part of Binance’s overall strategy to bolster trading activities on its platform and curb risks for its users. Binance aims to enhance liquidity protection Binance has confirmed initiating contact with low-market cap altcoin projects as part of its strategy to bolster trading activities on its platform and curb risks for its users. In the past week, the cryptocurrency exchange reportedly contacted various low-cap…

Balancer exploited in nearly $900k after vulnerability warning

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Ethereum automated market maker and decentralized finance protocol Balancer was exploited for nearly $900,000, the protocol confirmed on X (formerly Twitter) on Aug. 27, just days after disclosing a vulnerability that affected several pools. An Ethereum address allegedly belonging to the attacker has been revealed by blockchain security expert Meier Dolev. Following the exploit, the address received two transfers of Dai (DAI) stablecoin worth $636,812 and $257,527, respectively, bringing its total balance to over $893,978. “Balancer is aware of an exploit related to the vulnerability below,” the protocol’s team posted…

USDC market cap hits two-year low even after Coinbase stake

The USD Coin (USDC) market cap is currently at a two-year low, with analysts saying it’s yet to fully recover after depegging earlier in the year. Data from CoinGecko shows that USDC has a market value just north of $26 billion — its lowest level since July 2021, when it stood at $25.1 billion. The stablecoin is still the sixth largest cryptocurrency by market capitalization, but it has fallen further away, in terms of dominance, from its biggest competitor, Tether (USDT), which is currently valued at $82.7 billion. Only a…

SEC appeal a bust? Judge’s ruling will favor XRP, crypto attorney predicts

Judge Analisa Torres will likely reject the U.S. Securities and Exchange Commission’s (SEC) interlocutory appeal, according to attorney John Deaton. Speaking at the first annual onXDC Live blockchain conference held in Texas, Deaton — founder of Crypto-Law.us and managing partner of the Deaton Law Firm — claimed the SEC had not actually appealed against the ruling that favored Ripple’s XRP. According to Deaton, Torres, who ruled that XRP is not a security if sold on secondary markets, has only allowed the regulator to file a motion for an interlocutory appeal.…

Bitcoin price stability creates lucrative setups in TON, XMR, MNT and QNT

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Bitcoin (BTC) has gone silent over the weekend. CryptoQuant CEO Ki Young Ju said in a recent post on X (formerly Twitter) that Bitcoin’s velocity has declined to a 3-year low. He said this could either be considered positive as whales were holding on to their positions or negative because the transfer to new investors was not happening. The range-bound action continues to perplex investors about the next possible trending move. In that regard, there was a positive commentary from JPMorgan analysts who said that Bitcoin’s downtrend could be ending.…

Hashdex joins fray, seeks spot Bitcoin ETF on heels of Grayscale setback

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto asset manager Hashdex has ignited excitement by submitting an application to the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF. The filing outlines that the Hashdex Bitcoin ETF intends to directly source its Bitcoin assets from exchanges affiliated with the Chicago Mercantile Exchange market. Seasoned analysts, including James Seyffart from Bloomberg, have dissected the application, revealing a strategy primarily centered on exchange-traded position transactions.  This method involves trading futures contracts in exchange…

Pepe gains mildly despite rug pull concerns

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Pepe Coin (PEPE) has thrust itself back into the spotlight, but this time conversations revolve around its recent underperformance — a substantial 19% decline over the past week. However, the meme token posted a slight gain today.  Currently valued at $0.0000008969 as of press time, Pepe Coin has managed a minor 3.9% uptick in the last twenty-four hours according to Coinmarketcap data. PEPE’s volatility levels are however low as the Bollinger bands, used in volatility estimation,…