Day: September 6, 2023

Bitcoin Price Drops to Lowest in 6 Months as Crypto Market Anticipates ETF Decision

Bitcoin, which rose after Grayscale won its SEC case, has fallen to its lowest point since March as the market awaits an ETF decision. Bitcoin (BTC) is not keeping up with the bulls as it fell 1% in 24 hours, crashing below the $25,700 mark. The price is some distance from last week when Bitcoin crossed the $28,000 level after a US Court of Appeals took Grayscale’s side in its court battle with the United States Securities and Exchange Commission (SEC) regarding the investment manager’s intention to convert its GBTC Trust into…

A Bullish Opportunity In Disguise?

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Shiba Inu (SHIB) has been making headlines once again, but this time for all the wrong reasons. The popular meme token has been under sustained selling pressure, leading to a significant crack in a critical support level.  Despite the recent launch of Shibarium, a blockchain platform aimed at enhancing the SHIB ecosystem, the bearish sentiment seems to have a firm grip on the token’s price chart, raising concerns about the long-term outlook. The crack in SHIB’s armor became evident as it breached the crucial $0.00000807 support level, resulting in a…

CBDCs will gradually displace private banks, says Russian lawmaker

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Central bank digital currencies (CBDCs) and blockchain technology are likely to displace traditional banks, according to a Russian lawmaker. Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking system will “fade away” with the adoption of the digital ruble, local news agency RIA reported. “As for the role of banks, I think that their role will decrease in the future with the development of blockchain,” Aksakov said at a meeting of the media forum AIF Media. Private banks…

DYdX to launch decentralized order book exchange on Cosmos: KBW 2023

Decentralized exchange (DEX) platform dYdX plans to offer a “purely decentralized” order book exchange as it migrates its ecosystem from the Ethereum network to the interchain network Cosmos. At the Korea Blockchain Week 2023, Cointelegraph’s Andrew Fenton spoke with dYdX Foundation CEO Charles d’Haussy about the DEX’s plans to implement decentralized order books on their exchange and how they plan to shift their ecosystem onto a new blockchain network. Attendees at the Korea Blockchain Week 2023 held in Seoul, South Korea. Source: Cointelegraph In the interview, d’Haussy told Cointelegraph that…

dYdX to launch decentralized order books exchange on Cosmos: KBW 2023

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Decentralized exchange (DEX) platform dYdX is planning to offer a “purely decentralized” order books exchange as they migrate their ecosystem from the Ethereum network to the interchain network Cosmos. At the Korea Blockchain Week 2023, Cointelegraph’s Andrew Fenton spoke with dYdX Foundation CEO Charles d’Haussy about the DEX’s plans to implement decentralized order books on their exchange and how they plan to shift their ecosystem onto a new blockchain network. Attendees at the Korea Blockchain Week 2023 held in Seoul, South Korea. Source: Cointelegraph In the interview, d’Haussy told Cointelegraph…

SOMA Finance to Issue the First Retail Compliant Digital Security

“We have been working quietly but diligently to develop the necessary technology to launch arevolutionary decentralized marketplace for digital assets, compliant digital securities, and NFTswhile liaising with regulators to provide a highly regulated decentralized financial platform,” saidWilliam B. Heyn, co-founder and co-CEO, SOMA.finance and CEO of Tritaurian Capital.” Source

India G20 confirms ‘active discussions’ around global crypto framework

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Under India’s G20 presidency, active discussions around establishing a global framework for cryptocurrencies are underway, India’s minister of finance Nirmala Sitharaman has said.  On Aug. 28, Indian Prime Minister Narendra Modi pushed for global collaboration on formulating crypto regulations among G20 (Group of 20) member states, which include 19 countries and the European Union. Modi believes that emerging technologies — like cryptocurrencies — that have global impact should be accompanied by regulations and framework that is adhered to globally. Sitharaman confirmed that the G20 members are working toward this vision…

New $20M fund eyes blockchain gaming and NFTs

A group of cryptocurrency venture investors has established a $20 million fund to invest in undervalued Web3 projects and companies focused on blockchain gaming and digital collectibles. Alpha Protocol Ventures (APV) will look to invest in a variety of projects across the Web3 ecosystem, its CEO and founder Vagelis Diamantis told Cointelegraph in an email interview. He said that gaming and collectibles will be a priority focus, while decentralized finance, layer-1 and layer-2 protocols will also fall within the scope of the fund’s capital allocation. “We will also explore projects…

Marathon’s Bitcoin mining rate fell 9% in August

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United States-based crypto mining operator Marathon Digital Holdings produced 1,072 Bitcoin (BTC) in August — 9% less than in July but five times more than in August 2022. On Sept. 5, Marathon shared the unaudited BTC production and miner installation updates for August. According to the press release, the company increased its U.S. operational hash rate by 2% month-over-month to 19.1 exahashes in August, and it increased its installed hash rate by 1% month-over-month to 23.1 exahashes. The rise occurred due to the upgrade of Bitmain Antminer S19j Pro miners…

Solana, Aptos, APE & More Token Unlocks Coming This September

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September is gearing up to be a pivotal month in the crypto space, with a series of substantial token unlocks for Solana, ApeCoin, Worldcoin, Optimism, dYdX and Aptos on the horizon. Popular crypto voices, @TheDeFinvestor and @wacy_time1, have taken to Twitter to provide insights, speculations, and analyses on these impending events. Here’s a consolidated look at their perspectives. ApeCoin (APE) Set to witness one of the most significant unlocks this month, APE will release $54.8 million, which represents 11% of its circulating supply, on Sept. 17. Both influencers highlighted the…