Day: August 29, 2023

Shibarium wallets surpass 100K after SHIB devs relaunch bridge

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Shibarium, a new layer-2 blockchain for Shiba Inu (SHIB) has surpassed 100,000 wallets on its platform with 35,000 coming within 24 hours of Shibarium’s relaunch on Aug. 28. Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, confirmed Shibarium was back up and running in an Aug. 28 blog post. At the time, Kusama noted that Shibarium tallied 65,000 wallets across 350,000 transactions — however, those figures have rocketed upwards since, respectively increasing 55.8% and 20.2%, according to Shiariumscan.io. Shibarium’s block explorer shows that 101,277 wallets have now facilitated…

Bitcoin Price Still Vulnerable Unless It Surges Past $26,500

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Bitcoin price is attempting an upside break above the $26,200 resistance. BTC must clear $26,200 and $26,500 to start a decent recovery wave. Bitcoin is still struggling to clear the $26,500 resistance zone. The price is trading above $26,000 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase if it clears $26,200 and $26,500. Bitcoin Price Faces Hurdles Bitcoin…

1inch Investment Fund buys $10m worth of Ethereum

1inch Investment Fund has purchased 6,088 ETH for $10 million, taking advantage of the Ethereum price dip. 1inch stacks up more ETH In a move that’s caught the crypto community’s attention, the 1inch Investment Fund recently acquired 6,088 Ethereum (ETH) for a whopping $10 million, according to blockchain analytics platform Lookonchain.   The purchase was made at a price of $1,655 per Ether, bolstering the fund’s holdings and revealing their confidence in the token’s future price move despite the ongoing crypto winter. The researchers also revealed that the investment fund purchased…

Binance considers exit from Russia following sanction violations

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they…

A Crash Like Amazon’s? This Scenario Could Push Bitcoin Back To $10,000

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Bitcoin (BTC), the leading cryptocurrency in the market, has experienced a significant decline since mid-August, resulting in a stagnant price within a newly formed range. This decline has occurred amidst what many believe is an extended bear market in cryptocurrency, causing concerns about the future of Bitcoin’s bull cycles.  Bloomberg Intelligence’s Senior Macro Strategist, Mike McGlone, has drawn attention to the current similarities between BTC’s trajectory and the infamous crash of Amazon in the 2000s during the “Dot Com Bubble.”  McGlone’s analysis emphasizes the importance of learning from history and…

Solana-based Clockwork to shutter citing ‘limited commercial upside’

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The developers behind Solana-based smart contract automation project Clockwork is set to turn off key infrastructure for the protocol at the end of October, citing “limited commercial upside.” In a series of X (Twitter) posts on Aug. 27, Clockwork founder Nick Garfield Garfield said he and the team will stop active development of the protocol and on Oct. 31 will turn off its nodes on devnet and mainnet. Garfield cited “simple opportunity cost” as the reason for the team stepping back from Clockwork, admitting there were limited commercial benefits to…

HashKey officially launches as Hong Kong’s first retail crypto exchange

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied HashKey Exchange has officially opened its doors, marking its entry as the first licensed retail virtual asset exchange in Hong Kong. HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has officially commenced operations. The launch event was a collaborative effort among representatives from the Hong Kong Special Administrative Region (HKSAR) government, major banking institutions, insurance companies, and Big 4 auditing firms. 🌐 It’s a momentous day! HashKey Exchange Grand Launch is TODAY, and we’re…

Bitcoin Miner Revenue Rapidly Falling, What Happens Next?

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Bitcoin miners are churning less in revenue, looking at trackers on August 28. According to Hashrate Index data, a platform that tracks the correlation between hash rate and revenue accrued by miners over time, income generated from Bitcoin mining operations is at near record lows. Bitcoin Miner Revenue Declining At $0.059 per Tera Hash (TH) daily, the trend doesn’t look exciting for Bitcoin miners as it is cents away from $0.056, a level recorded in late November 2022. At the depth of last year’s crypto winter when prices fell, cracking below…

Europe’s first Bitcoin ETF receives ESG label

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Jacobi Asset Management declares its Bitcoin ETF as an ESG-compliant fund under EU rules. Europe’s first Bitcoin exchange-traded fund (ETF) has been declared as an Article 8 fund by its issuer, marking a bold intersection of cryptocurrency and ESG (environmental, social, and governance) investing. By receiving this designation, the fund is legally obligated under European Union rules to advance ESG causes.  Jacobi FT Wilshire Bitcoin ETF joins a diverse portfolio of Article 8 financial products, a…

Friend.tech threatens to punish users if they use copycat apps

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Crypto’s newest decentralized social media (DeSo) app friend.tech has been met with intense criticism over a decision to punish users who opt in to forks or copycat versions of its tokenized social media platform.  “To make sure loyal users are rewarded fairly during our beta, users moving to forks and copies will automatically opt out of earning Points and forfeit existing points,” wrote the official friend.tech X account in an Aug. 28 tweet. We expect @friendtech clones and other types of copies will emerge. To make sure loyal users are…